Charitv reei51ration numh@r 11?A£6S IEn8l¥Thd Walesl Company reeistfation number 06785041 AGE UK NORTH CUMBRIA ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 AGE UK NORTH CUMBRIA LEGAL AND ADMINISTRATIVE INFORMATION Trnttees Mr stuart Irvin8 (Chairl Mr5 Brenda Hill (T￿aSu￿rI Mrs Jeannie Pè51ey Ivice Chairl MrAndrew 5hekell Mr Chris Fuller Ms Gillian Linton M5 Aljson Hampson Senlor managément tpam Alison Arnbrose Johanna Foster Chief executive officer Other senk)r management Charlty number 1128565 Company number 06785041 Règistered office 20 Spencer Street Carlisle Cumbria CAI IBG Audltor Saint & Co. Sterllng House Wavell Drive Rosehill Carlisle CAI 2SA AGE UK NORTH CUMBRIA CONTENTS Chaies report Trustees, report Independent auditorfs repDrt 7-10 ststement of linanc¢al activities li 8alance sheet ststernentof cash flow5 14 Note5to the nnancial 5wemenTS 15-35 AGE UK NORTH CUMBRIA CHAIR'S REPORT FOR THE YEAR EIVDED 31 MARCH 2025 Age UK North Cumbria rernalns dedicated to irnprovinE the live5 of older people across our region. Overthe pJ5tyear. we have taken slgniflcant Steps forward most notab￿ expandin8 our area of operation from Carlisle and Eden to include West Cumbrfa, Teflerted in our name change to AEe UK North Cumbria This chanEe reflects OUT ongoing commitment to meetin8 the needs of older people whereverthey lfve, ensurlng that supportand a(IvKe are acce55ible to all who need them. As part of this growth. we have Invested In new Premises and services acmss West Cumbri4 including the opening a new advice and retsil outlet in WDrkington and further outlets in Keswick and Cockermouth. These developments mark an exciting new chapterfor the organisation. strengthenlng our presence in local rcmrwnities and allowing us to reach mts￿ people than Èver befoTe. The pastyear has also brought unprecedented challenges. Risingemployer National In5ufdnEe contrsbutions. the ongoing cost- of-Iivin8 crisis, and the increas1r￿ popularty of onllne resale platforms have all pla￿d pressure on our resources and rÈtra Ferformance. In addith?n. fluctuations in value of donated goods have fvrther impacted in¢Dme. Despite these headwlnds, Age UK North Cumbr13 contlnues to show remarkable resilien￿ thanks to the hard worK commitmen¢ and creativity of our staff. volunteers. and partner5. We have continued to deliver a wlde range of essentTal servi￿$ 10 thou5and5 of older people. from information and advi￿ to social support. helping Indivlduals maintrin their independEnce, dignity. and wellbeing. We have a150 5trenEthened our collaboration with local èuthoritles, the NHS, and other voluntsry sector partr£rs, ensuring older people remaln at the heart of our shared commuTrity efforts. Looking ahead, we remain optimlstlc and ambitlOU5. The expansion Into West Cumbrla offers new opportunltle5 to innovate, build partnerships. and develop servlces ihat ￿flect the changing needs of our ageing kX)pulation. We will continue to adapt to financHI and soclal challenges with determination and cornpa551on. gulded byour mission to make later life a more posltlve and fvmlling experience for all. On behalf of the eoard ol Trustees. I would like to emtend rny heartfeltthank5 to all 5tsff. volunteers, stspporters, and my fellow trustees for their ongoing dedication and enthusiasm. Together. we continue to make a tsnEible difference in the Ilves of dder people across North and West Cumbria. Stuart Irving Chalrman Date.. 1i1.lil.LS AGE UK NORTH CUMBRIA TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH2025 The trustees present their annual report and financial statemÈntsforthe yearended 31 March 2025. The financial statements have been prepared in accordance with the accounting policie5 set out In note I to the finaThclal staternent5 and compty with the charity's goveming document. the Companie5 Act 2006 and "Accounting and Reporting by Charitie5.' Statement ol Recommended Practice applicable to charlties preparing their account5 in accordance with the Financ*1 Reporting Stsndard appltcable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191. Oblertlves and artivltles Summary of the objetts ofihe ¢harity Age UK North Cumbria seeks to promote the relief of elderly people in any mannerwhich now or hereafter May be deemed bv law to be charltsble in and around North Cumbrla or otherwise In the County of Curnbria Ihereinafter called "the area of benefit'l. Mi55ion Statement Age UK North Cumbria seek to promote the £ontributions olde¥ people make to society and to promote their interests by workin8 Wlth and for them to help make older life a fulfilling and enjoyable experience. We have ￿ferred to the Èuidance contained in the Charity Commi55ion's general guidance on public benefit when reviewing our alms and objectives and in planning our future actNities. In particular. the trustees condder how planned activitTes will contribute to the aims and objectives they have set. Charity'5 alms and the Char￿eS It seeks to make throu£h its activilie$ To Improve the quality of life ol frail and elderly people To help towards the maintaining of independence To broaden interest and stimulate 5elf-improvement To combat loneliness To promote health and a healthy lifest￿e To provide advice and information ro be alert for opportunities to influence and educate publ￿ opininn nvpr it%ll•s whlch eont•rn th• vAllbein£ of the elderly population and to be ready if necessary to campaign on their behalf. ro explore new OppOrtun￿e$ and respond to them and to engage Sn research especially into areas of need within To work with and look for ways ol co-operaiin8 Wlth statutory and other voluntary bodies and increase our ability to influence service provision with our key partner5. To promote link5 Wlth other AEe UK organlsations and trj plty #n 3pprowiate part in thg A8e UK structUTCd Ot national, regional 3nd county level. To ensure the highest standards in all our enterprises. To provide an apDroprlaie structure of manaeem@nt. g31arlpd WDrkers and vtslunt90rs tO8•ther with appropriate eqtsipment to 5USt3in and develop these a￿3$. To raise and maintain the finance needed to achieve all these èlm5. The trustees have paid due regard to Euidance Issued by thÈ Chxrity Cnmmission In dotlding what 3Ctlvities the charity should undertake. AthiÈvements and pèrForman¢e Age UK North Cumbria are 5UPFQrted by the dedicatlon and cornmitment of its strong team of 120+ volunteers to cleliver the services and actwities which are so vital to older people in North Cumbria. Volunteers a￿ our m05t valuable and vital asset and brlng a unigue perspettive to our work offering over two hundred hours per week of voluntary service. We are also inéebted to the ChaiT and Board of Trustees for their leadership and direction. Between 2024125 Age UK North Cumbria helped and supported over4.505 older people In the North Cumbria area. AGE UK NORTH CUMBRIA TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORn (CONTINUED) FOR THE YEAR EAIDED 31 MARCH2025 Home Support OuT'Home Support, service 0￿r$ much needed 5UPPOrt to vulnerable peo￿e, helping them remaln independent in their own homes. The service 15 delivered by a professional team of experienced and Compas￿Onate paid employees, there ss a nominal charge to help recover any expenditure InC￿rred. Well@Horne Well@Home is a bespoke h05Pltol discharge service funded by the Northeast and North Cumbria NHS partnership. It include5 assisted discharge from hospital with up ro fourweeks wrap around support to aid iecovery and prevent readmission. Retail I Shops We have 51X shops across our a￿a, Cèrlisle, Br4mpton. Alston. Worklngton, Cockerrnouth and Keswick. The Income generated in our retail outlets contribute5 toward5 the core costs of deliverinE Dur diverse range of service5. A huge thank you must 80 to all the volunteers who help us to open each shop every day, their support is app￿cIated. Campaigns l Fundralslng Gift Aid is our rnain fund rdisin8 activity with over £14,000 ralsed between 202412025. CampèiEll5 thi5 year included the Winter Warmth campaign which was in collaboration with Cumbria Community Foundatlon and the Household supportfund which we distributed on behalf of Westmorland and Furness Council. Inforniation and Advice 5er¥ite This service provides free, accesslble Information on a wide lange of15sues. Including welfare benefits. income maKimis¥tion. housing. and health care. Welf4￿ benefits informatlon Is the rn05t sou8ht-after advlce. Flnancial Inclusion Is an important element of add￿ssing need5, ès It increases opportunitie5 in terms of social activities, transp)rt. domest￿ support and alds and adaptations. The additional Income is an added benefit to the local econotny. Figures from April 2024 to March 2025.. Totsl Enquir￿$ 4,282 The total arnount of benetits and arrears secured in the period between April 2024 ènd March 2025 Is £2,381,773. This 15 made up ol £1,798.647 annual galn and £583,126 in back payments. Winter Warmth grants- £90,600, 'AEe UK North Cumbria act a5 adrninistrators for Cumbria Cornmunity Foundation in diJtrSbutins 6rants to lowincorrr household5 LQ lielp LIIEITI ydy fvi fuEI 105t5 overthe Win￿[. The Inforrnation and Advlce Teatn continue to have a proactive presence withln the COrnFnunity by delivering p￿sentations. talks ané attending networkevents. Holiday Let5 Kirksrone corrage and l HaEI Trteight5 are a￿lIable for use by statt and volunteets of Age UK North Cumbria. The propertles are rnanaged by the resorts, Whitbarrow kloliday Village and Wild Rose Holiday Park. quallty 5tandard5 AQS IAQPS CQ5 IS027001 The organisation is reElsre￿d with the Fundraislng Regulator. Financlal Tevlew Revlew of the financ5al posltlon of thè chafity The Intoming Resources for the year ended 315t March 2025 were El,133,217. Outgoing Resources amounted to £1,049.450. Donation5 01 £10,959 We￿ received during the year togEther with legacies of £27,000. The donation5 Include a generous donation of £8,000 from The David Snowdon Trust forwhich we are extremely grateful. Shop sales decreased to E284.651. The overnll surplu5 for the perlod 1$ £84,498. AGE UK NORTH CUMBRIA TRUSTEES, REPORT (INCWDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 ReJer¥es polity In order to ensure continuity of se￿ce to our cllents, the management committee hopes to have reserves equal to a year, expenditure lon contlnuing artNltlesl for each service. currently El,049,450. Th15 should 85¥e sufficlent time to make altematyve arranEEments for Services in the event of discontinuation of funding, stsff who have been employed continuously for more than 2 years would requlre redundancy payments from reserves rfthe tharity had to cease. On 315t MaTch 2025 totsl reserves were £1,615,228 of whlch £352,878 were re5trlcted and £330,720 We￿ held as investments for a Bequest. which leaves ￿mainIng re5erve5 on 31 March 2025 of £931.630. These reserves are current rnar8inally le5S than those required to be In line with thE Iharity'5 re5Erve PDliEy. The tru5tee5 felt that even with the [￿ent doubling of our operating area. such reserves should enable the charity to secure seNce5 for the future. The trustees are mindful of the large deficits that have occurred in pastyears and wish the charity to futril i(s mission Statement foi many years to come. Included in the ￿$trthd reseffts is £219,905 whlch can only be reallsed by dispostnE of ts￿1b￿ fixed assets and inve$trnEnt propETty. PrincipalfundlTrB SOu￿e5 The charity achieves it5 income Irom three maiTh source5'. Dlrertlund.rnisinK and inwme yneRlion From its six shops From fund-ralslng events and collettion$ Age UK Income Gefteratlort InitiatNe5 Grants from other tharities The charity actively seeks grants from other charitabk grnnt making bodies induding the National Lottery Cornmunity Fund. Henry Lof15dale Trust and David Sncwdon Trust. Grants afe noted in the financial statements, (notes four& fivel. To maximise income and preserve rapitsl. The Board aims to maxirn15e the total investrnent return within the oblectives of mairthininB intome while contlnuing to preserve the ￿81 value of investrnents and lo maKlrnlse Income on Imiested restricted funds. Malor r15kslowhl¢h the tharlty 1$ exposed The rruslees nave examined the rnajor srrdTrgK. busine55 and opern￿nal risks to Whith the charsty 15 exposeo. In partkular those rtlated to operations and finance. and conflrm that systÈms have been established to enable regular ￿pOrtS to be prodU￿d 50 that the ne￿$sory aeps can be tskefi to le￿en these risk5. Thi5 w¢Jrk has ¥Jentified that fiThancial sustainabllity Is the major financial risk for the Charity. A key element In the rnanagement of financlal rlsk Is a regular review of èvallable liquid funds to settle debts as they fall due, re8ular liaison wlth the bank aiid acLlve InaiiatSeineiiL of iiddy dybtvi) irvdltut5 bdlaniE5 t¢J en5ufE 5ufflEIEllt WDrWng caprtal by Ihe Charty. AttenUon ha5 8150 been focussed on non-financial Tisk5. ari5ingfrom flre. health artd safetyof staff and clients. management of fundin& Infection eomtrol and fchDd hygiene. These risk5 are managed by ensuring accteditstlon 15 UP to dhte, having robust policie5 ané procedu￿$ in place and regular awa￿neSS training for stsff and volunteers workin8 in these opeTrtional areas. We have engaged consultsnt5. Watershed. a cornpany whlch provlde5 Infomiatlon and advice on Ernployrnent Law matter5 through its con5ultanc¥ programme. Kym Allen are erygaged as consu5tants to provkle Heahh and safetyadvI￿ and Informatlon. AGE UK NORTH CUMBRIA TRU5TEES' REPORT (INCWDING DIREcfoRS' REPORn {CONTINUED FOR THE YEAR ENDED 31 MARCH2025 Strurtur4 governance and mat)a84mont fjo¥ernlng document e UK North Cumbrla 15 4 company Ilrnlted by 8uarantee (Company Number 067850411 and is a reG￿tered charity no 1128565. It15 govemed by its ts)nstitutDn which ￿ in it5 Memorandum of Arttck5 of A5soriation last amended 16th Ottober 2024. The trustees, who ale also the directors for the purpose of company law, and who served durfng the year and up to the date of Signatu￿ of the financial 5tstements were.. Mrstuart Irving Ichairl Mr5 Brenda Hill ITreasurerl Mr5 Jeannie Pa51ey Ivice Chairl MrAndrew Shekell Mr Chr15 Fuller Ms Gilli4n Linton Ms ￿150￿ H¥rnpson Mrjonty Hanlon (Reslgned 14 ottober 20241 Method5 adoptedforth• wNitm*nt and 3ppolnlment of new trustees Membership of the Board shall con5iStof.. lil The Chalr elected by member5 of the owdnisation lill Such other number of persons elected by the members of the Organisa￿On as may frorn tlme to tlme be determlned In regulatlons adopted and issued in accordance with Clause 25 of the Constitution. liiil Those per50n5 CO￿Pted bythe Board of Trustees In accordance wlth Clause 27 of the Constltutlon. All new and potential tru5tee5 are &ven a Trustee Inductton Pack. which Clearly explain5 their role, In terms of personal and legal duties. Trustees are aL%o 8iven the opportunlty to access trainln& either Icully or nationalty to develop their skilLs and keep iheii knowledge current Tru5tee5 ore also Invited to visit our services ènd activf£ies and Spend time with staff on thelr partliular prulEa5. An annual lJu¢Jget15 allocated forTru5tee rraimng. Or%anisational 5tNcturEof the£harilv and how decisions ère made The Board of Trustee5 fwe times during the year and were responsible for strategic directlon, policy development and financial viabllity of the charity. The Chief Executwe acts as Secretsry to the Board and all operational matters are delegated to thls post. The Trustee5 recewe written reports from the Chief Executsve. Senior managers. prolett staff and other workinz groupson a reRuLir ba515. Pay Poliryfor Spnlorstaff The Trustees consider that the Board and the Senlor ManaEement Tearn comprlse the key management personnel of the Charity in charge of di￿rtin[and controlling. runnsng and operating the Chèrity on a day to day basis. All Trustees glye of thelr tirne freelv and no Tru5tse recelved remunemion In the year. Ootails of Truste0s' arp dI%t1n%￿ In 1? tn thp counts. The pay of the senior stsff 15 reviewed annually and noTmally increased in accordan￿ wlth average earnlny. In wew of the nature of the Charity, the Tru5tee5 Use the National Jolnt Councll INJCI salary sca￿$ as a tenchmark. Levels of pay are subjett to affordability4 job evaluation and nece55ary market adjustmenL AGE UK NORTH CUMBRIA TRU5fEES' REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEqR ENDED 31 MARCII ZQZ5 ststement of trustees, respon51bilitie5 The trustees. who are a150 the dlrertors of Age UK North Cumbrla for the purpose of company law, are responsibk for preparirw the Trustees. Report and the finantial 5tatEmEnts in acEordance with applicable law and Unlted Kln8dom Actounting 5tas)dards (United Kingdom Generally Ac￿pIed Accounttng PrartI￿1. Cornpany Law requires the trustees to prepare financial statements foT each financial year which give a true and fair view of the ttate of affairs ttf the charity and of the incoming resources and appllcation of resour￿$, Includint the income and e¥pEndrture, ol the charitable companyfor that year. In preparlngthese financlal ststements, thetrustee5 are requlred to: - select suitsble accounting policies and then app￿ them consi5tendv* observe the methods and prlnclples In Charities SORP; . make judEernents and estimates that are reasonable and prudent- state whether applicable UK Accountln8 Stsnd8rds have been followed, 5ubjert to any materlal departures dlsclosed aNI explained Inthe financial 5taternents,' and prepare the financial ststernents on the going concern basls unless Inappropriate to presume that the charlty wlll contlnue In Ope￿IDn. The twsrees are Te$ponslble for keeping adequate accountlng records that disclose vAth reasonable ac¢urncy at any time the rinancial posltlon of the charity and enable them to Ènsure that the finantial 5tètement5 comply with the Companles Act 2006. They are also responsible for safeguardlng the assets of the ¢harity and herKe for taking reasonable steps for the p￿ventIOn and detection of fraud and other irregularities. AudStor Each of the trustees ha5 confirmed that there Is no Information of which they are aware which is relevantto the aud1¢ but of which the auditcr is unaware. They have further confirmed that they have tsken appropriats steps to identify Such relevant nformatlon and to establish that the auditor 15 aware of such information. Small Company Provislon5 This ￿pOrt has been p￿Pared in acrordance with the provi51ons appllcable to companies entttled to the small companle5 exemption. Th¢ trustee>, reportwoj opproved by the D￿rd olTrustees. Mr5tuart Irylng (Chairl 17 NoVeM￿r 2025 AGE UK NORTH CUMBRIA INDEPENDENT AUDrroR'S REPORT TO THE TRUSTEES OF AGE UK NORTH CUMBRIA Opinion We have aUd￿d the Ilnanclal ststemeTht5 Of UK North Cumbria (the charfty'l for the year ended 31 March 2025 which tomprlse the statemert of financial actwitles, the balantr sheet, the statement of cash flows and note5 to the flnancial Statements. including significant accounting pDliC￿5. The financial reporting framework that has bEen applied in thelr preparatlon Is appllcable law and Unrted Kingdom Accounting Stsndards. Includlng Flnonclal ReportSnt stsndard 102 The Financlal Reportin8 stsndard applicable in the UK and Republic of Ireland (United Kln8dom Generally Accepted Accountln8 praCt￿e). In ouropinlr)D, thE finarKT315tstements- gNe a true and fair view of the state of the chawtsble companV5 affairs as at 31 March 2025 and of its incoming re50urce5 and appliCa￿on of resourcES, for the yearthen ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounfjryg Practice,. and have been prepared in accordance wlth the requlrements of the CompaniesAtt 2006. Baslsfor oplnlon We ccr¥Jucted our audit in accordance vAth International Standards on Auditing IUKI IISA5 IUKII and applicable law. Our respcnsbilities under those 5tsndards are further described in the Auditoes r@spon5ibilities for the audit of the financial statements section ol our report. We are independent of the charlty in accordance with the ethical requirement5 that are relevantto our audlt of the financial statements in the UK. Includlng the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained Is sufficier¥t and appropriate to provlde a basls forouropinion. Con¢luslon5 relatlnE to EolnE ¢oneem In auditing the financlal ststements, WÈ have coneluded that the trustee5' use of the going con￿rn basis of accounting in the preparation of the fin3nclal statements is 8ppropriate. Based £th tFse workwe have performed, we have not Identwled any material unteftsintie5 relating to events or COnd￿l￿nstha¢ 1ndwidual￿ or collectively, may Cast significant doubt on the charity's abilty to contlnue a5 3 going concern fof a period of at 1gastlwq￿ months frorn wh•n th4 fln•¢)Cial %tat•m•nts ar• authoriEed for issue. Our Tesponslbllities and the responslbilitie5 of the tru5tee5 With respect to golryg ￿ry￿rn a￿ descrlbed In the relevant rtknn% nf this rprKJrt other information Tliy vlliyi iTifuiiiidtlvii EV￿vrI￿5 the InfuTtn6tlDTr IniludEd In thE re[￿rt other Ihan Ihe flnoncial STaTernen￿ and auditols report thereon. The trurtees are responsible lor the other information contsined wSthin the annual report Chjr opinion on the financial 5tstements doe5 not cover the other informatlon and we do not express any form of assurance conclusion thereon. Our responsibi1Sty Is to read the other Inforiiiatiuil dTid, iii duiii¥ ¥J, iviijldvr whether the gthEr Informatlon is materially incon5iStent with the flnanclal ststements or our knowledge obtsined in the course of the audit, or otheThvise appear5 to be materially mi$stated. If we identify such material inconsistencies or app&￿nt material misstaternents. we are reguired to deterrnine whether thlj sl¥eJ rise to a material mlsstatetnent in the financlal 5totements themselves. If, based on the Work we have performed, we condude that there is a matsrlal mlsstatement ol th15 Other information. we are re9ulred to reportthatfacL We ha¥e nothlng to report In thls re8ard. AGE UK NORTH CUMBRIA INDEPENDENT AUDITOR'5 REPORT (CONTINUED) TO THE TRUSTEES OF AGE UK NQRTH CUMBRIA Matters on whlch we are reqUI￿d ￿ report by eKeption We have nothing to report in respect of the followlng matters in reltitiDn to which the Charities IAccounts and Report51 eguEations 2008 Tequires us to reportto you if. in ouropinion.. the inf(Irmation 8iven in the flnancial statements Is Inconslstent in any material respect with the trustees. report- or sufficient accounting records hove not been kept; or the financial 5tsternents are not In ag￿ementwlth the accounting rEtotd5' or we have not recelved allthe Informatlon and explanafjons we rtquire forouraudit. Responsibllrtles of trustees As explained more fully in the strtement of tru5tees' ¥espon5ibilitie5. the trustees. who are also the ditectcr5 of the charlty for the purpose of company law, aTr responsible for the preparation of the flnanclal statements and for bein8 satisfied that thev ¢ive a true and fair view. and for such internal control as thE trustee5 deterrnine is necessary to enable the preparatlon of financial statements that are free from materlal mlsstatement, whether due to fraud or error. In preparing the financial staternents. the trustees are responsible for asse$5inE the charity's ablllty to contlnue as a golng CDncern, di5c105ing. as applicable, matters related to Eoing concern and using the going concern basis of accounting unle55 the trustees elther Intend to liquidate the tharitsble cornparw orto cease operations, or have no ￿alIStICaLtErnati¥e but to d050. Audltor's re5ponslbllltles lorthe audit of the finan¢lal 5tsternent5 We have been appointsd as auditor under settion 144 of the Chhritie5 Act 2Qll and report in accordance with the Act and relewdnt regulations made or hawng effectthereunrler. Our objectives are to obtain reasonable assurance about whether the financlal ￿aterne￿ts a5 3 whole a￿ free from material misstatement whether due to fraud or Error, bnd to i55ue an auditor's reportthat Includes our oplnion. Reasonable assulance is a high level of assurance but is nol ) Euaiantee that an audit conducted in accordance with 15As IUKI will alway5 detect a material mlsttètement whÈn it eX￿t5. Misststements can arise from fraud or error and are consldèred material if, indivK4uallv or in the aggregate, they could reasonably be expetted to influence the economic declsion5 of users taken on the basis of these financlal ststements. AGE UK NORTH CUMBRIA INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEE5 OF AGE UK NORTH CUMBRIA Irregularities, irKluding fraud. are Instance$ ol nonrtlngend date. The surplus DrdEfKit cn revaluatign 15 recogn15ed In proflt of10s5. L8 Flxed asset Irpjestments Fixed asset investments a￿ initially measured at tronsaction price ex¢ludint tranuction costs. and are subsequently measured at fair value at each reporting date. Changes In falr value are ￿e0￿niSed in net lncome1lexpendltu￿l for the year. Transaction costs ère eX￿nSed a5 incurred. A subsidlary Is an erbtlty controlled bythe charlty. Control15 the power to go¥ern the financial and operating pollcie5 of the entlty so as to obtain benefit51rom its aCtiVrt￿S. 1.9 Impalrment of fmd assets At eHch roportSng @nd date. th• th#rity r0v1w￿ thq carryin6 amounts of its tsn8ibl¢ assets to determine whether there 15 any indication that th05E a55ets have suffered an impairment loss. If any such indication exists, the recoverable amount of the a55et 15 e5tSmated in order to determine the extent of the impairrnent loss Ilf any). i.io Stocks The Charty hold5 5tsKk5 of donated goods In the shoy. These 5tock5 are glfted and are consequenity Mt Wdlued untll Sold. putrh43ed for re5o1e are ¥filued ai tli¥ Iowei uf ¢v)l oiid Iivt le￿113&ble value. Net realisable value is the estimated selling price less all estlmated costs of completion and costs to be incurred In arketI￿ selling and dlstrfbutlon. 1.11 Cash andra5h equivalents ash and cash equivalents include cash in hand, deprssits held atcall with banks and othershorr-term Ilould Investments w￿h 01￿1ftaI maturitiesof three months or less. 17- AGE UK NORTH CUMBRIA NOTE5 TO THE FINANCIAL sfATEMETrirs IcoMriNUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountirbg polirie5 Icontinuedl 1.12 Financial i￿truMert5 The tharity hè5 elected to apply the pyovisions of Settion 11 'Basic Financial In5trurnerts' and Sectlon 12 '0ther Finanual InstNments Issues, of FRS 102 to all of ltsflnancl?I Instruments. Flnanclal instruments are recoKni5ed in the char"ty's baL4nce sheet when the charity become5 Party to the contractual provisK)ns of the instrumenL Flnandal assets and Ilabllltles are offset. with the net amounts presented In the flnandal starements, when there is legally enforceable ri8ht tQ Set off the ￿c08n15ed amount5 and there is an Intention to settle on a net basi4 or to reallse the assetand settle the Ikibilty simuh3noou51 8oslcfinon¢i#lossets Basil finaniial 055Et5. whKh include debtOTS and cash and bank balan￿5. are ￿n￿lalIV measured at tr6n5aCtion price Includlng transattion costs and a￿ subsequently carried at amortised cost uslng the effettive Interest method unless the arran8*ment ¢on5titute5 a financing transaction, where the transactlon is measured at the present value of the future receipts discounted at a market rate of intere5L FinancSal assets classified as rE£eivablE Wlthin one veèr are not amorti5ed. Bo5kflnundolllobil1￿e5 Ba51c financial liabilities, including ¢￿dItorS and bonk IDèns are Initlally recognlsed at transactlon price unle55 the arrangement constitutes a flnèncing trdnsactiOTh, where the debt instrument is measured at the pffsent value ol the future payments d15counted at a market rate of Interesi. Flnancial liabilitlE5 classified a5 paydble within one year are not arnOrt￿ed. Debt in5trurnents a￿ sub5equentty carried at amortised c05t. U51ng the effecive Inte￿$t rate mEthod. Trade creditor5 are obligations to pay for goods or servlces that have been ècqulred in the ordinary course of operatlons frorn 5uppllet5. Arnount5 paydble are cla551fled a5 currenr Iiab11111es If payment Is Jue within onE year or les5. If nol they are P￿sented as nonn- ¢an¢ell8ble operating lease5. which fall due as follDW$'. 2025 20Z4 Within one year Between two ènd fNe years In over five years 47,460 82,350 537,618 32,043 59,650 542,428 667.428 634,121 R¢l4tsd p•rtytiansaEtIon5 In the p￿V￿u5 year ican Health & Fitness CIO had a trustee in common with the tharity with no majority control in either charity. Uuring tne veèr, the trustee resigned tmm Ican He3￿h & Fitness CIO and there are no transactions between the two charitie512024.. £9,335). Subsidiarfes Detslls olthe ¢harlty'S subsidiaries at 31 March 2025 are asfollows.. Name of undertakSn8 Ro1151ered office Nature of buslness Cla55 of shares held % Held Dlreth Indirect Age UK Caili51E & Ede Enterprlses Llmited UK Dormani Ordinary Share5 iOO.LK) AGE UK NORTH CUMBRIA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR TME YEAR EhTDELI 31 MARCH Z025 Subsldlarles (ContiNedl The aggregate capitsl and re5erve$ and the resu￿ for the year of subsidiarie5 excluded from consolSdation was as follows." Narne of undertakln8 ProlhllLossl Capii•l ond Reserve$ Age UK Carlisle & Eden Enterprises Llmited 13,6871 The Charity'5 trading subsbjiarycompany. Age UK C•Tli51e & Eden Enterprises Limited, was dissofved on 1st April 2025. ContinKen¢ies Contirynt liabslities: Prior to l Aprll 2009 former employees of Age Concern Eden partSdpated In a defined contribthry pension scheme through the Pensions Trust. one part of which gives tertain guarantees to memters. The transfer ol etnployees to Age UK North Cumbria meant membership ol the Pertsion Trust Scheme terrninated and triggered a liakn'lity to the Scheme equal to the full buy out cost for employees affÈcted. Age Concern Eden paid É11.238 to covÈrthe technical deficit The residual liability, estimated by independent actuarles at £34.151 in Septernber 2009. is guaranteed by Age UK North Cumbria. The Tesiduol liabilitywill vary accordingto th¢ value of the Pension Tru5tfvnd assets and residual liabilities. Contingent 0$5ets: The charlty has been made aware of one legacy due to It at the year end, however the amount of the legary Is no¢ yet known, therefo￿ no amount ha5 been included in the tinancial statsments in respect of this. sh genernted from operations 20Z5 2024 surplus fort￿ year 84,498 87,831 Adjustments for: Investment Income recognlsed In statemellt of financlal attivitles Fairvalue Bain5 and1055e5 on inve5trnenls Dep￿CIatIOn and irnpairment of tsngible fixed a55ets 127,3321 17311 18,668 126,7021 126,2B81 11.127 Movements In worklng capltal: Decreasellincreasel In siocks Il¥lLl¥d)¥lldyii¥d)E Iii dEbtur5 IDecreasel/increase In creditors IDe¢rea5el in deferred income 321 149,7281 135,9581 187,1621 11.226) 1,591 63.754 111.9161 Cash labsorbed byllynerated from operations 197,4241 98,171 AGE UK NORTH CUMBRIA NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 37 Analysis of change5 In net fvnd$ AtIAprl 2024 Cashlljws PA 31 Mark 2025 Cash at bank and In hand 1.187.160 196,0221 1,091.138 Obligations underfinance leases 13,8411 12,9461 1.183.319 195,1271 1,088.192 .35.