REGISTERED COMPANY NUMBER.. 07345521 (England and Wales) REGISTERED CHARITY NUMBER: 1137821 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR AGE CONNECTS CARDIFF AND THE VALE LIMITED MHA ststutory Auditor Elfed House Oak Tree Court Cardiff Gate Business Park CARDIFF County of Cardiff CF23 8RS
AGE CONNECTS CARDIFF AND THE VALE LIMITED CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Chairman's Report Report of the Trustees 2 to 11 Report of the Indendent Auditors 12 to 13 Statement of Financial Activities 14 Balance Sheet 15 Cash Flow Ststement 16 Notes to the Cash Flow Statement 17 Notes to the Financial Statements 18 to 28
AGE CONNECTS CARDIFF AND THE VALE LIMITED CHAIRMAN'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 The year ending 31 March 2024 saw nolable changes in both services delivered and the staffing structure at senior levels within the Charity. The end of the year also saw the planned retirement of Jeff Hawkins CEO after over 30 years of service with Ihe Charrty and the appointment of Maxine Johnson as his successor. The work of the Charity conlinues to be made up of commissioned services from Cardiff and the Vale Heallh Board, Cardiff Council and the Vale of Glamorgan Council and older people. Supported by our 250 Volunteers which offers more than 23,000 hours of support lo vulnerable older people in Cardiff and the Vale At the Board level worf( has continued in developing the commercial subcommittee which has met during the year to review current commercial activities of the Charity. The Volunteer panel has been established and chaired by a Trustee giving a direct line of sight from the Volunteers to the Board Next year we would also like to recruit at least 70 more Volunteers. Thanks to all our staff and volunteers for all their hard work and commitment during this year Stuart Young Chairman Page 1
AGE CONNECTS CARDIFF AND THE VALE LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statemenls of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounling and Reporting by Charities= Slatemenl of Recommended Praclice applicable to charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). OBJECTIVES AND ACTIVITIES Our Purpose To promote the relief of elderfy people in any manner which is charitsble in and around the City and County of Cardiff and the County of the Vale of Glamorgan. Our Vision To live in a society where older people are respected and enabled to meet their aspirations. The Board of Directors have reviewed the organisation's core values, operational objective, aims and strategies, these are restated as Core Values Professional Ouf Staff and volunteers pride themselves on their professionalism. Deliver on Promises We commit to fulfil all that is promised. Quality Communications Promotional coverage and feedback following all joint activities. Understanding We take pride in our woth. are skilled. knowledgeable and treat people faidy. Trusted We have a long-slanding reputation in the community- Person Centred We put people first. Operational Objective To help, support and enable older people to maintain their Independen and improve the quality of their lives. Aims To recruit and train staff and volunteers to meet our objectives. To be proactive in seeking partnerships to improve the care and support for older people and deliver products and seiS. The five strategies employed to achieve our objectlve are to". Raise the profile of the Charity Ensure sustainable volunteering Provide informalion and support servi$ that promote health and wellbeing, independence and empowement Provide a first point of contact for enquiries to the Charity Fundraise Our Activities The charity provides a range of direct support services to older people including: Advocacy in the community and in residential care Financial Advocacy in the form of welfare rights Products such as Will making, lasling power of attomey and stairlifts LEAP - Free energy saving audits, aimed at saving people money Wellbeing café Good neighbour volunteer schemes An ageing well programme A nail cutting servi A Community Support Project Page 2
AGE CONNECTS CARDIFF AND THE VALE LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 OBJECTIVES AND ACTIVITIES We offer thanks to all those organisations lisled on pages 21 and 22 and to the following supporting Ofganisations: Jane Hodge Foundation Home Instead Bolt Removal TeleGare and Meals on eelS Cardiff Care UK Quality Solicitors - JA Hughes Wendy Hopkins Family Law Berry Smith Solicitors Passmores BNI Reliance Cardiff Penguin Wealth Planet Leasing Cardiff Nutrition Utility Warehouse - save money with us Phoenix HR Acom Stsirlifts Bums Pet Nutrilion Photodrome Glamorgan Voluntary Service (GVS) WCVA Big Lottery Fund Wales Lloyds Bank ZOKIT Marketing Purks Asda Pollards Print Severn-bay Insuran LEAP Rhys Welsh - Web & graphic markeling Carabina IT WHQS Charitsble Activities - Who Benefits The trustees confirm that they have paid regard to the Charity Commissions public benefit guidance. The beneficiaries of the Charity's work are demonstrated in this report. The Charity recorded more than 4,000 requests for help during 2023124 with our stals showing that: 52Yo of our dienls live in the Vale of Glamorgan with a slightly smaller proportion of 480k living in Cardiff. 79 /0 of clients were over 70 years of age, with 40 /• over 80 and 70kn being over 90 years of age. 59% were female with 41 /4 being male. To deal with these 4,000 plus requests.. 26 slaff An active team of 250 volunteers who provided more than 23,000 hours of support which has an estimated value of more than £239,000 yearly (minimum wage) Wellbelng Centre Our Wellbeing Centre in Barry which is partially funded by Cardiff & Vale University Board, Ihe Vale Council as well as café sales provides-. A café for older people lo meet & make new friends (38 Hotion Rd, Barry). Healthy Ageing opportunities which include exercise. craft, & social classes. A one stop centre for information wilh staff & volunteers on hand and clinics provided by partner organisation. Volunteering opportunities to get older people involved in the community- Health screening seNices Outreach work across the Vale - information provision and low-level advocacy These ServIS were provided by 1 part-time staff and an active team of 15 volunteers. Page 3
AGE CONNECTS CARDIFF AND THE VALE LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Nail Cutting SeNice Out nail CLrtting social enterprise, funded by the fees charged, provided: 3,346 basic toenail cutting appointments for 999 different clients Appointments cost £24 per home visit (increased to £30 in January 2024) and £18 for a clinic visit (increased to £20 in January 2024). Established 4 new clinics in Penarth. St Athan. Cowbridge and Dinas Po's Home visits were temporarily stopped in Cardiff due to staff shortages but continued in the Vale of Glamorgan Made a small loss which will be Itxsking to rectify in 2024125. Volunteer Support Schemes {Good Neighbour & Community Support Project) Our Good Neighbours Scheme provides support to isolated older people without friends or family to help them. SeICes indude.. Information on what support is available or answers to queries A volunteer visitor for company Shopping support Help with transport or an escort to attend appointments Regular phone calls for a chat and to check that everything is OK In 2024 the Vale Good Neighbours service (funded by Vale Council) experienced.. 1.173 new requests for information and support With 110 clients receiving volunteer support for befriending or shopping support These services were provided by 3 part-time staff and an actNe team of 62 volunteers (20 mole volunteered and have now left). Community Support Project Our Community Support Project provides similar services in Cardiff and is fvnded by Henry Smith Charity. 698 clients accessing the project wrth 309 clients reIVing volunteer support for befriending, shopping and practical support These services were provided by 3 part-lime staff and an active team of 125 volunteerfs (88 more volunteered and have now left) Outcome surveys of both Good Neighbours and Communlty Support project clients show that: 89Vo Strongly agree or agree that the shopping Servi helped them stay independent & living in their own home. 910/0 agree that befriending seN1$ provided helped reduce feeling of isolation. 920/0 agree that the seNice received from Age Connects has Improved their quality of life. 970/0 volunteers report that Ihey have had a positive volunteering experien. Community & Care Home Advocacy Service We provide advocacy services in care homes and community settings. We are routinely visiting care homes once every quarter. In addition, we respond to individual refetTals from either the Advocacy Gateway. Social servIs or from other sources such as family or friends. We a150 ViSIt care homes at the request of the Vale and Cardiffs Joint Quality Monitoring Meetings (JQMM). We also delivered community home visits across Cardiff and the Vale. During 2023124 we made on average 208 care homes visits, this included a few virtual visits and some telephone calls. We supported 80 people with Independènt Professional Advocacy (IPA) in Cardiff which included individual care home referrals for both Cardiff and the Vale involving 1.007 interactions. In addition. we supported 144 clients through our community advocacy in the Vale with 698 interactions. Al the end of March. we had notification from the NDTI that we had successfully ¢ompleted the QPM assessment process and would be re-awarded the Advocacy QPM for a period of three years. Page 4
AGE CONNECTS CARDIFF AND THE VALE LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The Vale Welfare Rights Service The Service provides support to older people aged 60 + to maximise their income through benefrt entitlement as well as dealing with general benefit enquiries. The SeNice provided support to complete benefit applications over the telephone and home visits where required or rf the application was more complex. In the year 2023124 the servi reiVed 656 referrals and generated over £923,130 in extra benefit income {if each benefit awarded is given an 18-month value). Cardiff Welfare Rights Service - Independent Age The Charity was sUsSful in its application for a grant from Independent Age. We We one of 50 organisations that received £40.000 from Independent Age, to help those struggling with the cosl of living by maximising their income through benefit enlitlement and help with completing fomis. The service began in mid-December 2022 and aims to mirror our service in the Vale of Glamorgan by meeting the demand from older people in Ihe Cardiff area. It means we can make a positive differen to people across the two counties. In Ihe year 2023124 the Service reiVed 411 referrals and genefated over £848,064 in extra benefrt income (if each benefit awarded is given an 18-month value). Broker Service The Broker Service works in partnership with Cardiff Community Resource Teams (CRTS). C1 Vale Contact Centre. the Vale Community Resource Service al Barry Hospital and Vale Community Care GP Clusters to support vulnerable individuals. their families. and carers with hospital discharge and to avoid hospital admissions. Referrals a accepled from Health & Social Care professionals. The Community Liaison OffirS are involved in both step up and stepdown refetrals. In 2023124 the SeNice in Cardiff dealt with 354 referrals, provided 301 home visils and 1,061 contacts with Clients, Private and Statutory services ensuring provision of correct support to meet identified need. The Service in the Vale reIVed 575 enquiries resulting in 507 referrals, an increase in 161 referrals {47Vo) compared to 346 in the previous year The Vale servi has an open referral pathway and accepts referrals from Health, Social Care, and the public. The Discharge Support Service Discharge Support Officers (DSOS) worked wilhin the Integrated Discharge Service (IDS) in Cardiff and the Vale lo assist hospital palients over the age of 60 and their families with discharge planning. This SeNice was TUPE'd across to the University Health Board on 1st July 2022. Page 5
AGE CONNECTS CARDIFF AND THE VALE LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW Financial overview Total incoming resou$ were £695,953. Total resources expended were £714,828, leaving net expendtture of £18.875. Pricing policy for charged services Our pricing policy for activities includes charges or suggested donations for services and this reflects our aspiration to enable older people, regardless of their means, to take part in our activities. Nail Cutting Service - The charge for the sep4ice has increased to £20 for dinic visits and £30 for home visits due to inflationary pressures. If clients are slruggling financially there is the oplion to receive a £6 discount. The Pri is set below the current private sector rate of £40 to £50 and was introduced by the Charity as a service to address the real problems older people have in getting access to a quality seNice at a reasonable price. Additional resources have been accessed and invested and further applications for development support, to allow us to expand the service are being developed. Shopping Support - Requesls for shopping support have decreased since the end of the pandemic and the increased availability of supemiarket home delivery options. Age Connects provide shopping support to between 30 and 50 clients on a weekly basis, a small charge of £5 is made to help cover costs of the servi. Wellbeing Centre - Originally set up in 1990 lo address the ageing well agenda, the Cent charges a reasonable rate for beverages and healthy eating snacks for customers using the facilities. A considerable programme of health and socÉal activities are provided and organised in the community for which an allendance charge is made to cover the costs of tutors and venuelrefreshment costs. Reserves policy The trustees are of the opinion that free reseeS should be in the gion of £300,000. The Charity provides a range of services funded by public sector bodies. During the year the Board decided lo withdraw from Ihose conlracts that were economically difficult for the charity to deliver given the short contract period, and where the changing employment environment. meant recruitment to staff posts was challenging. resulting in our inability to meet the requirements of the contract., All public sector funding arrangements will be reviewed in the lead-up lo April 2025. Given the charity's current reliance on these sour$ of funding the trustees need to ensure the Charity has sufficient reserves to.. Cover short to medium term fluctuations in incoming resources. Invest in methods lo generate alternative sources of funding. Cover employment related obligations. Cover medium lerm lease commitments. The charity resee5 as at March 2024 are £488k. of which £474k are unrestricted funds. these are also the free resreves. Our frirecast deficit for 2024125 that was presented to the Board was a deficit of £44k. This was recently revised this to a deficit of £54k because of the 3% wage award and updated LEAP figures. We are trying to get to a break-even position and planning to stem the deficit in future periods. The Board was satisfied that the level of reserves and current operating model means thal the Charity can be considered a going concern. The trustees will review the reserves policy in the next financial year. Page 6
AGE CONNECTS CARDIFF AND THE VALE LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 FUTURE PLANS The organisalion has carried out further reviews and a risk assessmenl related to longer term funding and the relationship with the public sedor. The organisalion has achieved the Advocacy Quality performance Mark, which will be held for 3 years. The organisation has achieved the enhanced workpla Health Award. A new management structure was put in place and a well-being suryey was undertaken wilh all slaff. Our plans include: Equality, Diversity & Inclusion Training. and accreditation for the organisalion Celebrating 50 yeats of Age Conneols Cardiff and the Vale and fundraise on the 50 years theme Applying for funding for a Wellbeing Co-ordinator Recruit 70 new volunteers Increase our income through LEAP Increase our ino)me through fundraising inttiatives Increase income through social enterprises Marketing and Partnerships Income generation plans will provide fijnds towards meeting the requirements of our Volunteering Programme. Significant effort is being made lo fully realise the potential of the partnerships and relationships we have and is developing through all fomis of communication. including a variety of social media platfomis and press aclNity. The Marketing and Partnership Manager continues to build on raising the charity profile and generating new streams of income. Clear targets have been set for income arising from fundraising. donations. commercial partnerships, and product sales and given the ongoing restrictions and limitations placed on what activities are possible, the team continues to strive to meet this targel by finding innovative ways in which fundraising is still viable. We have invested in social media aGlivity,' Marketing Purks are assisting in fulfilling this ambition and results so far are promising. Our website has been updated. Our online presen plays a pivotal role in our success with a current following of approximately 7k across all social media platfomis. which continues to grow. We woth hard lo expand our reach which includes Facebook (2.8k followers), Instagram (1,126 followers). X (2.051 followers). and Linkedln (1 k followers)- This helps us to recruit new volunteers. tell our stories, and raise awareness. Our fundraising events have been re*stablished and we are seeking new opportunities for the links we have with businesses and supporters. One part-time staff member covers Ihe Markeling and Fundraising Function. Given the limited resources, our largets need to be realistic, however. there is still much activity planned for this coming financial year. We will On again be taking part, for the 5th consecutive year, in the Big Give Match Funding Christmas Challenge. We hope to match our previous yeavs SucsS with a target of 7.sk to fundraise. We continue to work well with local businesses and national alike. The larger organisations often have the potential for match funding which allows our fundraising efforts to go further. Through neorkIng and building relationships with such partners, we can recruit Participants ft)r fundraisefs, promote volunteering opportunities, and spread the word about our work with Itxal older people. Due lo rising costs, we have had to reduce our charity magazine Lrfetimes from being mailed to our database from fouf times per year lo just 0. This A4 20-page magazine has been in existence for almost 20 years and is well reiVed by our readership of 3.000. We endeavour to make each edition as infonnative and interesting as possible and continue to receive ongoing support from advertisers and readers alike. Through our partnership agreement with Acom Stairlifts, we can earn income when a stairlift referral from ourselves is ompleted. This is at no extra cost to our clients and has resulted in an additional in¢ome slream of over 4k for Ihe chariiy in the last finanaal year. We are still in the early stages of building our partnership as the Cardiff and Vale of Glamorgan LEAP Energy Survey supplier. LEAP provides free energy-saving advice for our clients and also assesses the home, and any electrical white g¢)ods that are over 8 years of age. provide certain white goods lenergy-saving products can be provided. This will lake time lo develop and promote but we hope in time that this service will not only help many save on their energy costs but also generate much-needed income. Page 7
AGE CONNECTS CARDIFF AND THE VALE LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document Age Connects Cardiff and the Vale Limited is a registered charity no 1137821 and a Company limited by guarantee Company number 7345521. The subscribers to the memorandum of the company are first members of the charity and the trustees of Age Connects Cardiff and the Vale are also trustees of the George Hill Snook Charity for the Aged. Registered Charity number 213285. Membership Membership is open to other individuals or organisations who apply to the charity to be members and where the application has been approved by trustees. The full details are sel out in the Articles of Associalion for 8 Charitable Company. Recrultment and appointment of new trustees No one may be appointed or conlinue as a trustee if he or she would be disqualified from acting under the provisions of clause 36 of the Articles of Ass¢xiation. The number of trustees shall nol be less than three but (unless otheNiise detemiined by ordinary resolution) shall not be subject to any maximum. Trustees will be appointed at Annual General Meetings of the Charity, on the recommendation of the trustees. At each Annual General Meeting one third of the trustees or. if their number is not three or a multiple of three, the number nearest lo one third must retire from office. Oryanisational structure The Board has the overall responsibility for the govemartce of the Charity. It meets at least four times a year and is supported by work groups or committees when necessary. The Chief Executtve leads the Management Team in the day to day management of the Charity, working within the financial framework. procedures and policies set down by the board. The Chief Executive has delegated authority for human resource planning, employmenl, seNice development and finance. Induction and training of new trustees Trustees take an active role in succession planning. Potential trustees are initially provided with reports that will enable them to judge whether to pursue an appointment. Application forms are completed prior to an interview with Ihe Chair of the charity and the Chief Executive. If candidates are regarded as suitable, and wish to pursue an appointment, an orientation session is arranged. This forms part of the ongoing induction process and involves meetings with key staff, attendance at seminars and Commtttees and at least one Board meeting. Following satisfactory completion of the recruttment process the Board will recommend appoinknent as a trustee. Pay policy for senior staff The d1ctOrS and also trustees of the charity give their time freely and no diredor received remuneration in the year. Details of directors, expenses are disclosed in the notes to Ihe accounts. The pay of senior managers is considered to be commensurate with posts of a similar natu within the local third seclor. The pay of senior staff (CEO and Managers) and all other staff is reviewed annually in June. The pay policy of the charity is to apply any uplift in salary across the whole organisation. In setting the annual pay rate, the directors lake into account the average increase in eamings across the whole economy, the private sector, the public sector, Relail Price Index (RPI) and the Consumer Price Index (CPI) and on the charity's ability to meet such costs. There was a decision for a 30kn wage award in June 2024. Page 8
AGE CONNECTS CARDIFF AND THE VALE LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Related parties and co-operations with other organisations The Charity is an active member of Age Connects Wales. None of the trustees receive remuneration or benefit from their work with the charity. Any connection beeen a trustee or senior manager of the charity associated with the woth of the harity must be disclosed to the full board in the same way as other contractual relationships with related third parties. A register of interests is maintained and at every board meeting Board members are offered the opportunity to declare any conflicts of inleresl or related party Iransactions. The Charity has a close working relationship with Age Connects Wales relating specifically to the work of Chief Executive Officers at a strategic and policy level to support campaigning and influencing work across Wales. Age Connecls Wales is owned by the six members Age Connecls organisations in Wales, being.. Age Connects Cardiff and the Vale Age Connects Morgannwg Age Connects Torfaen Age Connects North Wales Central Age Connects North East Wales Age Connects Neath Port Talbot The organisation was set up in 2013 and a membership fee was introduced to pump prime the stsrt-up costs. Risk management This remains a challenging environment. The outcome of commissioning arrangements for the charItS seTvices remains unrtain beyond 2024. Efforts to diversify income continue to show progress with current reseNes demonstrating good financial management and increases in unrestricted income. Furthering this effort remains a key focu5 for the charity. The development of specific action plans and a review of the chatity's resetves policy means the charity has mitigated the risks that have been identified. In addition, further consideration has been given to the risks associated with non-public sector activity, including marketing and promotion. income generation, Workfor planning, and volunteer sustainability. Specific plans have been approved to address risk and development opportunities. these include investment in income generation, markeling, and promotion. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 07345521 (England and Wales) Registered Charity number 1137821 Registered office Unit 10. Sbectwm Bwlch Road Faiater Cardiff CF5 3EF Page 9
AGE CONNECTS CARDIFF AND THE VALE LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Trustees C Harvey S Young - Chair R Bright A Carter N Jarvis G Watts J Manley F Evans Resigned 2010512024 Appointed 2910112024 Chief Executive M Johnson J Hawkins Appointed 2810212024 Resigned 2810212024 Operational Managers J Corley M Coffin G Bohun Deceased 0410812024 Finance & Governance Officer J Bowling Marketing & Partnerships Officer K Fletcher Company Secretary M Johnson J Hawkins Appointed 2810212024 Resigned 2810212024 Auditors MHA Statutory Auditor Elfed House Oak Tree Court Cardiff Gate Business Park CARDIFF County of Cardiff CF23 8RS Solicitors Dan Dowen Legal and Commercial Law Berry Smith Lawyers Haywood House Dumfries Place Cardiff CF10 3GA Bankers Barclays Bank LEICESTER LE87 2BB COIF Bank LONDON EC4V 4ET STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustees (who are also the directors of Age Connects Cardiff and the Vale Limited for the purposes of company law) are responsible for preparing the Annual Report and the financial slatements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally AcrEpted Accounting Pra1). Page 10
AGE CONNECTS CARDIFF AhlDTHE VALE LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENOED 31 MARCH 2024 STATEMENT OF TRUSTEES. RESPONSI8ILmES - eonttnued Company law requires the trustees to prepare financièl statsmentg for e3ch financi81 year which give a true and fair vitw of tre of ?tf3irs of the ¢ha¢ttsbl¢ cumpBny and of th& incomtng resources and Èpplicdl"on of SOurCeS, Indudirg tho inrne and èxpenditrJre. ol the ¢haritsEla compgny for that period. In preparing those finanoal atements. twsts are requir&d to select suilabl8 accovntrvJ policies and then apply them Conssleny. obs8Ne the methods and principles ln the Charity SORP". make ludgerLS arKS esbmafrs that are re¥S0ble and prudent. prepare the fjn8ncial ststements on Ihe going conc£m S{S unless It is inappropri9fe trj presume that the oharitablg conTrany wi51 iorsbnue in bustness The trustses arè reSponSe ler keeping proper accountng rettords whrh disdose aSOnable accurJ¢y at any tim the fin8rK4al ptsstion ot the th3ritable company aThJ to en8ble them kn eroure that finanal sfAternents comply the CompanÈes Act 6. They Jie alw resptsnsible for salegu#rding the awts of the charitable company and hence for tang rèasonatle steps foi prewenbon and detscton of fraud and other irrogul8ri1ios. In so tar as the tsusteeg are awar•. th8re Is no relenI aud¢t Infomation of whb thè charFtsblo company's aLdibrs are unaware.. and the Irustees have tsken all stsps that they ought to h8ve takon tr) m8ke themselves gVaFe ol •ny relevant alxlit irformatK)n and to establish auditors ar8 awdre of that infom)atien. . and sgned on tts bÈh21f by.. Approv9d by orrfer of the Board of TNstpes on . S WYoutVJ- stee Page 11
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF AGE CONNECTS CARDIFF AND THE VALE LIMITED Oplnlon We have audited the financial statements of Age Connects Cardiff and the Vale Limited (the 'charitable company,) for the year ended 31 March 2024 which comprise the Statement of Financial Aclivilies, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom AuntIng Standards (United Kingdom Generally Accepted Acmunting Practice). In our opinion the financial ststements.. give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of sources. including its income and expenditure, for the year then ended,. have been properly prepared in accordan with United Kingdom Generally Apted Accounling Practice,. and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with Intemational Standards on Auditing (UK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance wilh the ethical requirements that are relevant to our audit of the financial slatemenls in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordan with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concem basis of accounling in the preparation of the financial statements is appropriate. Based on the work we have performed, we have nol identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at leasl Iwelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going conom are described in the relevant sections of this report. Other infomiation The trustees are responsible for the other infomiation. The other information comprises the inft)rmation included in the Annual Report. other than the financial statemenls and our Report of the Independent Auditors thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any fom of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so. consider whether the olher information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such malerial inconsistencies or apparent material misstaternents, we are reqLSired to determine whether this gives rise to a material misslatement in Ihe financial statements themselves. If, based on the worf( we have perfomied, we conclude that there is a material misslatemenl of this other information, we are required to report thal fact. We have nothing to report in this regard. Oplnlons on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audtt.. the information given in the Report of the Trustees for the financial year for which the financial statemenls are prepared is consistent with the financial statements,- and the Report of the Trustees has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstalements in the Report of the Trustees. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not been kepl or retums adequate for our audit have nol been re*ived from branches not visited by us,. or the financial statements are not in agreement with the arxounling records and retums., or certain disclosures of trustees, remuneration specified by law are not made; or we have not received all the infomiation and explanations we require for our audit., or the Irustees were not entitled to take advantage of the small companies exemption from the requirement lo prepare strategic Report or in preparing the Report of the Trustees. Page 12
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF AGE CONNECTS CARDIFF AND THE VALE LIMITED Responsibilities of trustees As explained more fully in the Statemenl of Trustees, Responsibilities. the trustees (who are also the directors of Ihe charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a Irue and fair view, and for such internal control as the trustees detemine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company's abilily to ¢ontinue as a going concern, disclosing, as applicable, matters related lo going concem and using the going concem basis of accounting unless the truslees either intend to liquidate the charitable company or lo cease operations, or have no realistic alternative bul to do so. Our responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial slatements as a whole are free from material misstatement. whether due to fraud or error. and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always delecl a malerial misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in Ihe aggregate. they could reasonably be expected to influen the economic decisions of users tsken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularlties, including fraud is detailed below= Enquirtes of management, those charged with govemance around actual and potential litigation and claims-, Performing audit work over the risk of management override of controls. including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business- Reviewing minutes of meetings of those charged with govemance: Evaluating the reasons for any large or unusual transactions- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with re9ulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial ststements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional GOnalMent. forgery, collusion, omission or misrepresentation. A further descriplion of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uklauditorsresponsibilities. This description fomis part of our Report of the Independent Auditors. Use of our report This report is made solely to the charitable company's members, as a bo(ty, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might slate to Ihe charitable company's members those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent pemiitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the harilable company's members as a body, for our audit work, for this report, or for the opinions we have formed. Julia Mortimer (Senior Ststutory Auditor) for and on behalf of MHA Statutory Auditor CARDIFF CF23 8RS MHA is the trading name of Maclntyre Hudson LLP. a limited liability partnership in England and Wales (registered number OC312313) Page 13
AGE CONNECTS CARDIFF AND THE VALE LIMITED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 2024 Tolal fvnds 2023 Total funds Unrestricted funds Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 90,864 90,864 87,450 Charltable activities Community Support Informalion and Advice Ageing Well 61,053 127,071 104,743 180,082 102.205 8,098 241,135 229,276 112,841 193,580 214,359 107,928 Other trading aclivities Investment income 4,314 17.523 4.314 17,523 1.113 6.923 Total 405,568 290.385 695,953 611.353 EXPENDITURE ON Raising funds Charitable activities Community Support Information and Advice Ageing Well Partnership development 64,019 65.452 115.014 179.045 180,082 102.205 8.098 911 244,101 167,657 123,112 179.956 231,149 168.321 105.205 241,000 Total 423,532 291,296 714,828 745,675 NET INCOMEI{EXPENDITURE) {17,964) (911) (18,875) (134,322) RECONCILIATION OF FUNDS Total funds brought forward 491,887 14,536 506,423 640,745 TOTAL FUNDS CARRIED FORWARD 473,923 13.625 487,548 506.423 The noles form part of these financial statements Page 14
AGE CONNECTS CARDIFF AP40 THE VALE LIMITED BALANCE SHEEr 31 PAARCH 2024 2Q2.1 2Q Tvlal IuTvJ5 rrfEstrEIu FIXED ASSErs l!ibe-.Imcrds CURRENT ASSETS 16 31.862 .484 Cash #l bank 477 649 48.ogt 57.2Q2 S55 X.5 563.528 CREDITtJRS .,24 440 j 143.57YI 1680'_71 CURREXT ASSETS 473.923 13.625 4e7.ste TOTAL ASSETS LESS CURREhlT UAauTrES 473.923 13.625 NET ASSETS 487 54 5Dct.423 FUNOS UF'.fESirfC& knnd5 RegIti¢¢ lund5 -923 13,675 491.e87 14_53E TOTAL FU14DS .187.518 JtrWJ.23 $ubiEcl ts Ittp 51na'.j .odn.'ts rEoime rinanciai sfal(TmoD.15 eE £lPF.Ttx.pd by [- ol TJ$5 ar*J 45<1 Ioi IS$tr bYEIC or. ,'ts by S Ywr.g- T4 Qsto Tht i)olcs lorpyi pail of I1¢2¢ s J:pl?..5
AGE CONNECTS CARDIFF AND THE VALE LIMITED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operating activities Cash generated from operations 161.442) Net cash used in operating activilies 161,442) Cash flows fn)m investing activities Interest received 17.523 Nel cash provided by investing aclivities 17,523 Change In cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period (24,341) (154.519) 548,044 702.563 Cash and cash equivalents at the end of the reporting period 523,703 548,044 The notes form part of these financial statements Page 16
AGE CONNECTS CARDIFF AND THE VALE LIMITED NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net expenditure for the reporting period {as per the Ststement of Financial Activities) Adjustments for: Losses on investments Interest received {Increase)Idecrease in deblors Increasel(decrease) in creditors (18,875) (134,322) (17,523) (17,378) 11,910 (6,923) 2,624 22,821 Net cash used In operations 41,864) 161.442) ANALYSIS OF CHANGES IN NET FUNDS At 114123 Cash flow At 3113124 Net cash Cash at bank 548.044 24.341 523,703 548.044 24,341 523.703 Total 548.IM4 24,341 523.703 The notes form part of these financial statements Pa9e 17
AGE CONNECTS CARDIFF AND THE VALE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 STATUTORY INFORMATION Age Conneds Cardiff and The Vale is a company limited by guarantee incorporated in Wales within the United Kingdom. The registered office is Unit 4 Cleeve House, Lambourne Crescenl, Llanishen. Cardiff CF14 5GP. The financial statements are presented in Sterling {£). the company's functional currency, and rounded to the nearest pound. The principal activities and nature of the charity's operations is lo support and champion older people who are isolated, vulnerable or in poverty. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consislently applied to all years presented unless othetwise stated. ACCOUNTING POLICIES Basis of preparing the financlal statements The financial statements of the charitable company, which is a public benefft entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounling and Reportin9 by Charities." Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019),. Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention with the exception of investments which are included at market value. There have been no material departures from Financial Reporting Standard 102. Preparation of the accounts on a going concern basis The financial statements have been prepared on a going cOnM basis, with the company having confimiation in place from many of its funders up to 31 March 2025 and adequate free reserves to support the organisation. In addition, the charity continues to raise funds from Trusts and individuals, enabling a range of support programmes. Preparation of consolidated fjnancial statements The financial statements contain infomiation about Age C¢)nnects Cardiff and Ihe Vale Limited as an individual company and do not contain consolidaled financial information as the parent of a group. The charity is exempt under Section 399{2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, il is probable thal the income will be received and the amount can be measured reliably. This indudes capital grants. Donations and legacles income Donations and legacies income includes donations, gifts and grants thal provide core funding or are of a general nalure and is recognised where there is entitlement. probability of receipt and the amount can be measured with sufficient reliability. Such income is only deferred when the donor specifies it must be used in future accounting perFods or the donor has imposed conditions which must be met before the charity has unconditional ent¢tlement. Income from charitable activlties Incoming resources from charitable activities includès income received under contract or where entitlement to grant funding is subject lo specific perfomiance conditions. This income is recognised as the related SeNiS are provided and there is entitlement, probability of receipt and the amount can be measured with sufficient reliability. Income is deferred when the amounts received are in advance of the performance of Ihe setvice or event to which they late. Page 18 continued...
AGE CONNECTS CARDIFF AND THE VALE LIMITED NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES - continued Income Incoming resources from other trading activities includes income received under contract. This income is recognised as the related services are provided and Ihere is entitlement. probability of receipt and the amount can be measured with sufficient reliability. Income is deferred when the amounls received are in advance of Ihe perfomiants of the service or event to which they relate. Invesknent income Investment income is recognised on a receivable basis. Expenditure Liabilities are recognised as expenditure as s¢)on as there is a legal or constructive obligation committing the charity to that expenditure, it is probable Ihat a transfer of economic benefits will be required in seltlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an 3ruar$ basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consislent Wtlh the use of resources. Expenditure indudes any VAT which cannot be fully recovered and is reporled as part of the expenditure to which it relates. Expenditure on charitable activities comprises those costs incurred by the charity in the delivery of its activities and seNices foi its beneficiaries. It indudes both costs thal can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Support costs are those costs that. whilst necessary to delNer an activity, do not themsefves Produ or constitute the output of the charitable activity. This includes govemance costs which are those costs associated with meeting the constitutional and statutory requirements of the charity and include the audil and accountancy fees and costs linked to the strategic management of the tharity as well as a proportion of salaries based on an approximation of time spent in this area. Allocation and apportionment of costs Support costs are those functions that assist the work of the charÈty but do not directly undertake charitable actNities. Support costs include staff costs, finance costs, general office and premises costs, depreciation and govemance costs which support the aclivities of the charity. These costs have been allocated beeen charitable activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly., others are apportioned on an appropriate basis. Direct expenditure is apportioned to each project on an actual basis. Tangible fixed assets Fixed assets are initially recorded at cost. Fixed assets costing more than £1,000 are Gapitalised by Ihe charÈty. Depreciation is calculated so as to wrile off the cosl of an asset, less its estimate residual value over the usefvl economic life of the asset as follows: Fixtures, fittings and equipment Small ilems of project equipment 25P/o per annum of cost 100% per annum of cost Taxation The charity is exempt from corporation tax on ils charitable activities. Fund accounting Unrestricted funds are available for use al Ihe trustees, discretion for any purpose within the objects of the ¢harity. Restricted funds have been reiVed with stipulation from the donor as to the purpose for which they may be used. Designated funds are unrestricted funds eamarked by the board for particular purposes in the future. Transfers from unfestricted to restricted funds are made when required to support underfunded activitses. Page 19 continued...
AGE CONNECTS CARDIFF AND THE VALE LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES - continued Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. Debtors Trade deblors and other debtors are recognised at the settlement amount due. Prepayments are valued at the amoLtnt prepaid. Creditors Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds lo a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any Irade discounts due. Operating leases Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straighl line basis over the period of the lease. Pension costs and other post-retirement benefits The charitable company operates a defined contribution pension scheme. Contributions payable to the charttable company's pension scheme are charged to the Statemenl of Financial Activities in the period to which Ihey relate. Terniination payments The charitable company recognises termination benefits as a liability and an expense only when the entity is demonstrably commttted either to terminale the employment of an employee or group of employees before the normal retirement date or to provide terminabon beneffts as a result of an offer made in order to encourage voluntary redundancy. DONATIONS AND LEGACIES 2024 2023 Donationslfundraising Legaciesrrrust Funds Grants 54,164 13,200 23,500 64,950 2.500 20,000 90,864 87,450 Grants received, included in the above, are as follows: 2024 2023 Peoples Postcode Lottery Garfield Weston Foundation 13,500 10,OIXI 10.000 10.000 23,500 20,000 Page 20 continued...
AGE CONNECTS CARDIFF AND THE VALE LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 OTHER TRADING ACTIVITIES 2024 2023 Trading 4,314 1,113 INVESTMENT INCOME 2024 2023 Bank interest 17,523 INCOME FROM CHARITABLE ACTIVITIES 2024 2023 Activity Community Support Communty Support Community Support Community Support Information and Advi Information and Advice Information and Advice Ageing Well Ageing Well Ageing Well Grants Other Project donations Ifundraising Fees for the provision of SeNiS Grants Project donations Ifundraising Fees for the provision of services Grants Other Project donations ffundraising Fees for the provision of services 180.082 13,378 5.823 41,852 102.205 11,218 115,853 8,098 74.883 1.262 146,178 2,083 45.319 71.551 6,325 136.483 11,475 69,624 4.137 Ageing Well 28.598 22,692 583.252 515.867 Grants received, included in the above, are as follows= 2024 2023 Cardiff County Council Vale of Glamorgan Council Henry Smith Foundation Age Cymtij Glamorgan Voluntary SeNices Groundwoth UK - Tesco Bags of Help Waterloo Foundation Independent Age National Grid Communily Matters 65.391 117,245 60,000 2,400 10.560 375 87,697 115,558 2,400 8,363 1,125 5,000 5.586 3,475 34.414 290,385 229,204 Page 21 continued.
AGE CONNECTS CARDIFF AND THE VALE LIMITED NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 RAISING FUNDS Other trading activities 2024 2023 Impairment losses CHARITABLE ACTIVITIES COSTS Direct Costs (see note 9) Support costs (see note 10) Tolals Community Support Infomialion and Advice Ageing Well Partnership development 203.901 154,120 107,491 173.962 40,200 13,537 15,621 5.994 244,101 167,657 123.112 179,956 639.474 75.352 714.826 DIRECT COSTS OF CHARITABLE ACTIVITIES 2024 2023 Slaff costs Other costs 501.221 138.253 543,836 107.169 639,474 651.005 10. SUPPORT COSTS Salaries and expenses Other support osts Governance costs Totals Community Support Information and Advi Ageing Well Partnership development 21.151 19,049 13.537 11.508 40,200 13.537 15.621 5.994 4.113 25.264 44,094 5,994 75,352 Salaries and expenses and office costs relate to administration carried out on behalf of operational adivities. Allocation is on the basis of an estimate of staff time. Other support costs relate to rent, utilities, insurance. lelephone, IT support and systems. payroll et¢. Allocation is on the basis of an estimate of usage. 11. NET INCOMEI{EXPENDITURE) Nel incomel(expenditure) is slated after chargingl(crediling}'. 2024 2023 Auditors, remuneration 5,994 5,994 Page 22 continued...
AGE CONNECTS CARDIFF AND THE VALE LIMITED NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 12. TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2024 or for the year ended 31 March 2023. Trustees, expenses No expenses were paid lo truslees for the year ended 31 March 2024 or for year ended 31 March 2023. 13. STAFF COSTS 2024 2023 Salaries Social security Pension contributions 480,885 28.243 17,357 540.061 29,778 18,788 526.485 588.627 Number of employees Equivalent full time employees 27 18 30 20 No employee received emoluments in excess of £60.000. The total key managemenl personnel remuneration benefits paid during the year was £181.838 (2023.. £261,904). Included within staff cosls are temiination payment5 afflounting to £1.688 (2023.. £40,000). Page 23 continued...
AGE CONNECTS CARDIFF AND THE VALE LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 14. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds Restricted funds Totsl funds INCOME AND ENDOWMENTS FROM Donations and legacies 87,450 87,450 Charitable actlvitles Community Support Information and Advice Ageing Well 47,402 142,808 96,453 146,178 71,551 11,475 193,580 214,359 107.928 Other trading activilies Investment income 1.113 6,923 1,113 6,923 Total 382.149 229,2¢)4 611.353 EXPENDITURE ON Charitable activities Community Support Information and Advice Ageing Well Partnership development 39,712 96.770 92,847 241.000 191,437 71,551 12,358 231.149 168,321 105,205 241,000 Total 470,329 275,346 745,675 NET INCOMEI(EXPENDITURE) Transfers between funds {88,180) 843 (46.142) 843 {134,322) Net movement in funds (89,023) {45,299) (134.322) RECONCILIATION OF FUNDS Total funds broughl forward 580,910 59,835 640.745 TOTAL FUNDS CARRIED FORWARD 491,887 14.536 S[,423 15. FIXED ASSET INVESTMENTS There were no investment assets outside the UK. The company's investments at the balanrE sheet d81e in the share capital of companies indude the following-. Age Concern Cardiff and the Vale of Glamorgan Enterprises Llmlted Registered office- Nature of busines5'. Domiant company Class of share.. Ordinary holding 100 Age Connects Cardiff and the Vale Limited held 2 shares in Age Concern Cardiff and the Vale of Glamorgan Enterprises Limited at 31 March 2024. The investment has been impaired due to Age Concern Cardiff and the Vale of Gl8morgan Enterprises Limited being dissolved via voluntary strike-off on 11 June 2024. Page 24 continued...
AGE CONNECTS CARDIFF AND THE VALE LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Prepayments and accrued income 31,862 17. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors Social security and olher taxes Other creditors Accruals and deferred income 9,336 10.188 1.554 46,939 3.927 8,386 1,556 68.017 56,107 Included within accruals and deferred income above is the following deferred income= 2024 2023 Deferred income brought forward Released lo SOFA Additional income deferred in the year 34,974 (34.974) 40.780 47,744 (47.744) 34,974 40,780 34.974 The deferred income relates to funding received in advance of service delivery. 18. LEASING AGREEMENTS Minimum lease payments under non-cancellable operating leases fall due as follows.. 2024 2023 Wrthin one year Belween one and five years 25.870 2,205 9,255 28,075 9.255 Operating lease payments recognised as an expense during the year amount to £31,026 {2023: £42,794). 19. MOVEMENT IN FUNDS Net movement in funds At 3113124 At 114123 Unrestricted funds General fund 491,887 (17,964) 473,923 Restricted funds Pendoylan and Welsh St Donats Recreation Fund (PD) 14,536 (911) 13,625 TOTAL FUNDS 506 423 18,875> 487,548 Page 25 continued...
AGE CONNECTS CARDIFF AND THE VALE LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 19. MOVEMENT IN FUNDS - continued Net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movemenl in funds Unrestrlcted funds General fund 405,568 (423,532) (17,964) Restrfcted funds Broker seice (CS) Community Volunteer Support (CS) Vale Good Neighbours (CS) Advocacy and residential care {1 & A) Cardiff Welfare Rights (l & A) Hope Advocacy Project (l & A) Pendoylan and Welsh St Donats Recreation Fund (PD) Stronger Communities {AW) 85,000 62.265 32,817 65,391 34,414 2,400 (85,000) (62.265) (32,817) (65,391) (34.414) (2,400) (911) 8.098) (911) 8.098 290,385 291.296 911 TOTAL FUNDS 695,953 714,828) 18.875) Comparatives for movement in funds Net movement in funds Transfers between funds At 3113123 At 114r22 Unrestricted funds General fund 580,910 (88,180) {843) 491,887 Restricted funds Community Volunteer Support (CS) Senior Health Shop (AW) Pendoylan and Welsh St Donats Recreation Fund (PD) 45.259 (45,259) (883) 883 14.576 40) 14.536 59,835 46.142 843 14.536 TOTAL FUNDS 640,745 134.322) 506.423 Page 26 continued...
AGE CONNECTS CARDIFF AND THE VALE LIMITED NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 19. MOVEMENT IN FUNDS- continued Comparative net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 382,149 (470,329) (88,180) Restricted funds Broker Service (CS) Community Volunteer Support (cs) Vale Good Neighbours (CS) Advocacy and residential care (l & A) Cardrff Welfare Rights11 & A) Hope Advocacy Project (l & A) Senior Health Shop (AW) 85,000 26,839 34.339 61,982 7,169 2,400 11,475 (85.O¢X)) {72,098) (34.339) (61,982) {7,169) {2,400} 12,358 {45.259) 883 229,204 275.346 46.142 TOTAL FUNDS 611,353 745,675) 134,322) Restricted funds Community Support (cs)- Volunteer befriending and support to older people in the communty Support to older people discharged from hospital. Activities to promote community cohesion by addressing the negative stereotypes between generations. Infomiation and advi {1 & A) - Assisling older people, both in the community and in residential care to resolve disputes and exercise their rights. Assisting with daims for benefits and fom completion. Assisting older people in moving into residential care. Ageing Well (AW) - Programmes to involve older people to promote better health. Pendoylan & St Donats Trust Funding received in the year following the winding up of the twst to be used for development in the area. 20. EMPLOYEE BENEFIT OBLIGATIONS The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charrty in independently adminislered funds. The pension cost charge represents contributions paid by the charity to the lund and amounled to £17.357 (2023.. £18.788). Contributions outstanding at the year end amounted to £nil {2023.' £nil.) 21. RELATED PARTY DISCLOSURES During the year, the charity received donations of £120 (2023.. £120) from 1 tTUStee (2023.. 1 trustee). During the year the charity entered into transactions in the ordinary course of business with related parties as follows.. Name Nature of transaction 2024 2023 Other related parties= WHQS Ltd Expenditure paid to 6,624 Severn-bay Insurance Expenditure paid to 1.634 Movo Insurance Expenditure paid to Income reiVed from 2,436 Page 27 continued...
AGE CONNECTS CARDIFF AND THE VALE LIMITED NOTES TO THE FINANCIAL STATEMENTS - Continued FOR THE YEAR ENDED 31 MARCH 2024 21. RELATED PARTY DISCLOSURES - contlnued During the financial year, A Hawkins who is a ¢lose family member of the Chief Ex6CUtive J Hawkins {prior to his resignation) was employed as a member of the nail cutting team. During this period of employment she received £681 (2023= £8,368). Page 28