Charlty Re9l$trotlon No. 1139S47 Company Registration No. 07413632 (England and Wlalèsl AGE UK STOCKPORT AND ITS SUBSIDIARIES ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 AGE UK STOCKPORT AND ITS SUBSIDIARIES LEGAL AND ADMINISTRATION Trust&•s Ms Susan Carpentier Ajting. Chair Ms Lauren Ridgway, Vice Chair Mr Stephen Clarke Mr Paul Carter Ms Anna Magner Mr Sam Singh (Appointed 26 September 20221 Company secretary Ms Margaret J Brade Chief exe¢utlve officer Ms Margaret J Brade Company registered nUM￿r 07413632 Charlty règlst•r¥d numb•r 1139547 R•gi8tered office Commonweal 56 Wellinglon Street Stodtport Cheshire SK1 3AQ Independent audltor's Jackson Stephen LLP James House Slonecross Business Park Yew Tree Way Warrington Cheshire WA3 3JD Bankers C(TrOpgralive Bank PLC 1 Sl Pelerfs Square Stockport Cheshire SK1 1NX Insuranc• Brok•rs Towergate MIA Kings Court Lon(Jon Road Stevenage Hertfordshire SG12GA AGE UK STOCKPORT AND ITS SUBSIDIARIES CONTENTS Page Trustees, rew)rt Statement of Trustees. responsibilitie5 16 Independent auditorfs report 17-20 Consolidated statement of financial activitKqs 21 Group balance sheet 22 Company balance sheet 23 Consolidated slatern8nl of cash flows 24 Notes lo the financial ststements 25-42 AGE UK STOCKPORT AND ITS SUBSIDIARIES TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2023 The Trustees present their annual report, which also coniains the requirements of a directors. report under the Companies Act 2006, and the audited financial statements for the year ended 31 March 2023. The financial stslernenls have b8erh prepared in accordance with the accounb.ng tK>licies sel out in note 1 and comply with the Charity's govèrning document, thè Companies Act 2006 and -Accounting and RÈrK)rting by Charities." Statement of Recommended Practic8 applicablè to charitsès prèparing thèir annual accounts in accordancè with thè Financial Reporting Standard applicable in the UK and Republic ol Ireland {FRS1021 leffective 1 January 20191.. Legal and administrative details are provided on a separate infonnalion page al the front ol these financial ststements. Since the Group and Ch8rity Qualify as small under sg¢tK>n 383 of the Companies Act 2006, the Group Slr8l&gi¢ Report réqLJired ol medium and large companiès under the Companies Acl 2006 Istrategic Report and Directors. Report) Regulations 2013 has been omitted Objective5 and activiti08 a. Pallel•$ and obSoetlve$ Age UK Stockport's I'AUKS'I Memorandum and Articles las amended December 20221 set out the objects for which the Charity is established and lo wh￿h it is specifically restricted, and are io promote the following purposes for the benefit of Ihe public andlor older people in and around Ihe area ol benefit (SI￿kport). 11 preventing or relieving the povety of older people.. 21 advancing education lor older p80pIe' 31 preventing or relieving sickness, disease or suffering in older people Iwheiher emotional, mental or phy5icall', 41 promoting equality and diversity in rglalion lo older people", 51 assisting older people in need by reason of ill-heallh. disabilty. financial hardship, social exclusion or other disadvantagè,. and 61 lo promole such other charitable purposes {which may be for the benefit ol persons other than older people) as the Iruslees may from time lo lime decide where such purposes are directty or indirecuy aligned lo or further any one or more of the above. Our key purpose statemenls were established in Ihe r8porb.ng year 2017118 aft8r compreh8nsiv8 stak8hold8r consultation and were developed further through consultation wilh staff in 2019120 by esiablishing a set ol behaviours to demonstrate the values. The key statemenls have been reviewed through internal consullation and confirmed by the Board in March 2021 and February 2023. Our VISION is for Stockport to be a place where every(￿8 is able to make the most of later life, living as valued members of their communities. Our MISSION - Age UK Stockport- working k)¢alty for your wellbeing. Our VALUES arg based on bging a caring. ￿Mm{lnity focusgd organisation and arg as foll¢)ws.' Connected- working with respect lor all in a fair and equiiable manner. arKI together with olhers in Ihe local community. Confident- in our integrity and our effecliveness: w(YkirvJ with a P05Ttive, bold and sUPPOrtive approach. Creative- adaptable, innovaiive, and resourcelul.. solulions and outo)me focused. P¥ge 1 AGE UK STOCKPORT AND ITS SUBSIDIARIES TRUSTEES. REPORT- continued FOR THE YEAR ENDED 31 MARCH 2023 Objectives and activities (continued) b. Strategiès for achieving obigctives Age UK Stockport Is an independent IcKal charty that cares aLx)ut local people's lrfe experiences as they gel older. The four strategic aims were again reviewed al the slart of the y8ar in view of the many exlemal changes and challengos. 11 was agreed to retain the aims as an appropriate framework for 2022123 as= To collaborate- We will work wNh local people. organisatKsns, and communities to understand what they do and how we can work together. To be active- We will be both proactive and reswn5ive in what we do and how we work. To influtrnce- We will listen and respond lo the voices of people lo influerhce locally and ￿YOnd. To be eff6ctive- W8 will be a Credible, high proffile. r8specled organisalion. At the end of the year at a February 2023 Board Away Day the above four aims were again confirmed, however worf( is ongoing internally on updating the descriptions and actions for a new Business Plan in 2024. During tho reporting year we conlinutrd ¢0 increase focus on areas of new re￿VanCe and import8n¢tr, 8$ key issues idgnlified as part ol effective recovery Irom Ihe pandemic years. This has included embedding the fdlowing into Ihe wider stratégy and implementation planning.. Staft Wellbeing Good working practices I hybrid working Social Value element Digital Strategy and planning Equity Diversity & Inclusion Addrtsssing Inequ81ilies Environmental awareness and policies We will always work lo our vision, mission and in line with our values and challenge ourselves to conlinually improve through commitment lo high quality standard5. Everything we do align5 with and is consistent with delivering on these objectives and commilmenls. Through continuing change. the organisalion remains critically aware of ils eommitmenl and responsibilities lo local people in later life. including ensuriThJ Ihal the voice of older people is heard. The following stralegies ensure we remain relevant. responsive. and effective. External Environment We plan and dgliver through taking a robusl and proactive approach to understanding all aspects of the environment in which the organisation works and al all levels - localty, regionally, and nalionally. Ongoing analysis is continually undertaken around macro areas ol Political, Economic. Social. Technological, Legal. and Environmental. In addition, Ethics and Demographics artr considered as particulady relevant lo this organisalion ISTEEPLEDI. Positively managing extern81 relationships wrth a wide variety of often changing Stakeholders has also been maintained throughout. This enables continual responsivenèss in the moment, bul also lèaming lessons and seeking opportunities from the wider context. The general social and political dimate has u)nlinued to te one of sustained Un￿rtaInty and the economic situation has continued lo translate locally to signtficant pressure on ts)th indivKluals and on all sources of organisalional funding. Alongside this there is a now Constant need to give time to stsying alert and aware of te¢hnologi¢al Changes $0 we ¢an spond positively to threats such as cyber securily and take up opportunities to assist our staff and our beneficiaries in this area that increasingly dominales day lo day life. At Ihe time of writi'rrfJ ihis has started to indude awareness of the many facets and potential of Artificial Intelligence IAII. Within the arena of he8th 8nd soci81 care this hès also combined wrth increases in other pressures, reflecting nation81 Irends, around hospital admission and discharge, social Ca￿ capacity generally and pariicularfy recruitment challenges seen across all sectors. Working wthin the new Greater Manchester Integraled Care System abngside significant issues with the local ccFcoordinating structures. has contributed to an increased complex, uncertain and last-changing environrnenl lo work in and plan in. Page 2 AGE UK STOCKPORT AND ITS SUBSIDIARIES TRUSTEES. REPORT- continued FOR THE YEAR ENDED 31 MARCH 2023 Objectives and activities (continued) Continuous awareness and responsiveness to all these shifting laclors has enabled Age UK Stockport lo remain responsive in positively dealing with new threats and risks and also identifying new opportunities for our beneficiarie5 and the organisalion. Eff8etlv• Plannlng & Strong Manaym•nt As noted last year, the organisation's positive response to the unprecedented demands of the Covid pandernic was made FK)ssible and effective by the Board and senior m8n8gemenl conlinving to use an estsbli5h8d agile and ernergenl planning process. to enable it to respond positively to many types ol change and deal with all lev&ls of uncertainly. As the pandemic continued into a second year. the emergency response plan 012020 was replaced in early 2021 with a new 3-year recovery focused plan, again based on emergenl approaches. This p(ovNled an appropriale and robust management framework for delivery in each area, including in strong recovery throughoul the reFM)rting year. C¢ntlnuatl¢n and D•¥•lopm•nt Last year's 2021-2022 report noted a year of￿0 halves- starting wilh the continuatton ofthe Emergency Crisis Response framework and developing as the Covid pandemic eased into the start ol the work on recovery in a significantly changed environrnenl. Recovery across all aspects of the organisation. central services and delivery, proved throughout the reporting year and beyond lo b8 ch811enging and c(xnpltrx, and much of our time is still spent responding to the many aspects of these challenggs and complexities. The agile and emergent planning approach has meant Age UK Stockport has conknnued to reshape, repurpose services and develop new services throughout the year. direcuy responding lo different and changing needs of residents and other stakeholders. This has not only changed from the pandemic years but is also now s￿nIfiCant1Y changed by the ongoing cost ol living crisis. This continues lo involve balancing innovation lor new services and a¢livilies with k99ping tried and tested services within the offer to our beneficiaries. We have also been keen to consider and where relevant incorporate learning from the pandemic rasponse particularty regarding digiial developments. Collal)oratlon$ AUKS dglivers sorvices dirgctly but also togfjthgr wilh olhors whorgvor this can bg bonofi¢ial and effectiv8. This is a core part of our approach, and consistenl with our value ol beiThJ 'connecled', to ensure the most benefit lor our beneficiaries. This has been strongly evidenced since 2015 byAge UK Stockport being a fvll part of all the major collaborations delivering prevenlalive services in Stockport. that ended in March 2022. Following three svccessful lenders the reporting year was thg first full year of delivering nèw Preventative services with old and new partners under 5+2-year contracts. So, Age UK Stockport is again playing a full part in alliances, neh¥orks and collaboralions, conlinuing as a member ol The Prevention Alliance, a renewed Collaboration around Wellbeing al Home l Home Support Services and a new partnership focused on Domestic Abuse. The organisatKJn's invofvemenl in the Collat￿rationS around Hospital Dischargo at Stepping Hill Hospital was conlinugd in Ihe year as part of an increasingly complex response to discharge pressures across Greater Manchester. We also developed further positive collaborations with the Council and local communilies around the ongoing Active Aging Local Pilot and our Age UK Greater Manchester partners ar￿n￿ Nulrition, and other smaller pieces of community focused aclivilies. Collaborations formed during thè challenges of the pandemic were scaled back as part ol recovèry, howevèr the ngw relalionships were posiii'vely maintained for working in the fvture. In addition, significant collaborations across Ihe third sector and between sectors stsrted during that time were being developed into a new forurn for sharing and joint working. Age UK Sto¢kport was an active part of the Voluntsry Se¢tor Forums thrgughout the year. Age UK Stockport also becamo a 'trusled partner, wlh St(tkport Coun¢il in distribution of Ihe Govemment DWP Household Support Grant. Page 3 AGE UK STOCKPORT AND ITS SUBSIDIARIES TRUSTEES. REPORT- continued FOR THE YEAR ENDED 31 MARCH 2023 Objectives and activities (continued) This also included a fantastic partnership wilh Sky Cafes which al Ihe yearond was actively IrK)king at seeking premises for establishing a physical Digital Hub supported by funding from Sky. the Council. grants and Age UK Stockport. In fact, the Digital Hub was opened in June 2023 an¢J will be fulty repcvted on in the next annual report. For all at Age UK Stockport we are proud to have delivered on Our mission of supp￿ting people's wellbeing, and on our values of 'connection' and strategic aims of 'collaboratson'. This level of collaboration involved a wide range of partners, of different areas of interest and S￿eS arHJ across sectors locally. regionally. and nationalty. This commitment to effective connections ha5 meant we have contirhued to contribute lo and lo le8m and benefft from an increased numb8r of other organisations and agencies in many ways. Brand PartnèrshSp Age UK Stockport is currenuy 8 'Brand partner, in a federal network of local Age UK'S. Each Age UK is 8 separate and legally constituted ¢harity in its own right. The brand partnership wilh Age UK nats'onal, enables the organisalion lo bengfil from being part of a larger and nationally re¢ryJnised brand whilsl remaining $tron9ly Committed to its rools a$ a local and indapgndent Stockport charity. It has also proV￿ed some opportunities lor funding through Eon and Cosl of Living grants. The federal relationship is caplured in detail in a Brand Partner Agreement which had been extended because of the pandemi¢ disruption and was due lor renewal in March 2022", however due to so many continued uncertainties and ongoing prgssurgs it was extended again unlil 31 March 2024 to enable Ihe work lo be undertaken over a ¢wo-year period. Work on the new agreement, underpinned by a new 'shafed strategy. was developing ihroughout the reportin9 year and adivity has increased signif1cantly at the time of writing as March 2024 approached. ¢. Actlvltlos undertaken to achleve obJectlvoJ Overall. th8 key factors that lead to good governanc8, slrong management and quality delivery ar8 our people, our management and support, our systems and infrastructur8, our collaborations las above) and our commitment to quality. The main activities for achieving twr objectives and delivering on the mission ol tho organisation are the dèlivery ol a ran98 of support $grvices and activitiès as detailèd below. In 2021 and 2022 the activitigs Wgre not in any sgnso a continuation of previous yèars as gvgrything was stOPPgd, repurposed, or changed lo respond to thg pandOM￿ and then thg bgginnings of recovery. In the reporting year il has continued to be challenging lo respond in the midst of changes and uncertainties. All aspects of planning and delivery have become noticeably more complex and requires ever more agility and flexibility in response. In 8ddilion. lo ensure things h8ppen as they should and lo ensure relevant and effective quality in all areas, a lot happen5 behind the scene5 to maintain an effi¢ienl. effective. fit-for-purpose organisation. The investment in a new Central Setvice Manager post was agreed to support this important work thal sits behind the servicè activilies and delivèry. People As a service and activity based Charity. ouf main and 9￿alest assets a￿ our people. The stsff. volunteers and Iruslees arg mainly local people with local kno￿￿edge. Across the various parts or areas of the organisation they are skilled and many have impressive levels of experience and qualificatsons, choosing to bring that into the sector. Many have been with us a long time, some over 20 years but equally we have benefiled greatly from new staff wilh new ideas and questions. All care about Stockport people and communities and particularly the challenges that can come as we age and have shown continued energy 8nd commilfflent lo our ffl1ssK)n and values al all levels of the organis3lion. OLJr volunteers work in many different roles in thè community, backdfice or direcdy with clients, and not only make many of our services possible by giving (heir time freely, but also bring many benefits induding a true community perspective. Recovery from the pandemic years is slow but there is a stror¥J c¢Jmmitmenl lo continue lo support and increase the return in volunteering across Age UK st￿kpOrt. External assessors have again noted that there is an"impressively value driven and committed workforce at all levels" and each mernber of staff and volunteers are an imw)rtant part of this. Page 4 AGE UK STOCKPORT AND ITS SUBSIDIARIES TRUSTEES. REPORT- continued FOR THE YEAR ENDED 31 MARCH 2023 Oblèctlvès and actlvltlès {contlnu8d) Taking care of people and all aspects of their wellbeing. physical. mental emotsonal and social. becarne a heightened locus throughout the pandemic, remained a high priority in recovery and it is positive to see it is now expected and embedded in good org8nisalional working prath.ces that we are enthusrJsbc to develop. Management and Support This has been kept under review during the rew)rting year particularly in response to the wider policy and structures of health and social care. Ch8nges planrhed in the previous year were ifflplemenled lo ensure the fflanagerllenl structure was both financially Sustainab￿ and could effectively adjust to remain appropriate lor the new environment. The slimmed down senior team of CEO and Operational Leads from April 22 slill had a challenging year adjusting their time and energy commitments to changing structures and demands. However, increases and changes in second tier managers and the new Central Services Manager role taking away much of the day to day involvement with organisalional areas of responsibility 811 provided them with more lime lo maintain an overview of operational delivery. Communicab'on remained a priority throughout the reporling year, in all respects, but particularfy regarding supporting staff lo have what clarity and guidance was possible in changing and uncertain times. A new pattem was developed, stepping down from the intensity of the pandemic peri(xl, with 8 regular service inform8lK)n sheet for 8a5y access to possibly relevant data and an increased use of Ihe monthly Team Briefing. Sysl•ms and lnfra$tru￿Uro This involves a range of critical areas for safe. compliant, and effective operations in all aspects of the organisation. Essentially il includes systems and processes to support staff to delivèr, lo lulfil efficient recording and enable required reporting. In support of delivery. it also inclu(les core areas such as financial processes. comprehensive policies and pr¢)cedures, Human Resource, H8alth and Safety and Safeguarding management and increased focus on internal ommunications and Wgllbeing. All involv8 varying levels of te¢hnology and for both planned and unplann&dlungXPO¢tod reason5 a significant amount of time has been invesled in this area in the reporting year and b8yond. This locus and investment in keeping pace with digilal and teCh￿l0g1¢el improvements involved all the major systems, exlemal and internal IT systems, safely systems and lelephone infraslruclure. A movg lo a new ¢loud-based IT supplier was implemented at the start of th8 year lollowing an in4lepth review in the previous year and ènabled èasier collaborative working. However due to dissatisfaction with the supplier il was then deemed necessary to change again al the end of the year. The biggest area of change was the unexpected loss of the organisalion's bespoke intranet 8nd HR systems. Issues with the supplier became 8 concern during the year and comprehensive mitigation plans were developed in case of failure. The system evenlually w9nt offline without waming in eady March 2023 and whilst the mitigation plans protected most data there was some loss and new systems had to be broughl online in a nJ)re unscheduled way that had been anticipated taking up a lol of central staff tirne and energy. The new systems are currenlly being fully implemenled. In addition, the telephone airangements were due for renew81, so the opportunity was tsken lo embrace new technology, manage wsts and maximi$9 existing systems. $0 the physical infrastructure was ropla¢od with TEAMS phongs from February 2Q23. Finally, investrnenl was made by bringing in a consultant into developing our client database, Charity Log, and reporting technology Power Bi built lo support service leads to improve reporting and line managers to inform performance management. This inv8stment work is continuing as a vital elèment in m88ting our own and commissionars raporting requirements. The changes made in the previous year to our main Commonweal office premises have better supported more flexible and hybrid working. However further consultslion with staff around working practices is planned lo enable the Board lo rgview th$ level of hybrid working and Ihersforo the offi¢$ space g¢yng forwards. Page S AGE UK STOCKPORT AND ITS SUBSIDIARIES TRUSTEES. REPORT- continued FOR THE YEAR ENDED 31 MARCH 2023 Obje¢tiv¥s and a¢tivitie$ l¢ontinuedl Quality Ensuring the quality of our work in both the delivery of our seryices and in being an effective and efficient organisation is seen a5 8 vital laclor in delivering orh our objectives. This commitrnent and focus were again maintsined throughout the year by undertaking a selected nLJmber ol exlemally and independenuy assessed siandards to ensure quality remained consistent through the many and continuing changes. Age UK Stockport has continued to have signrficanl success wtth highly regarded and extemally validated stsndards which in 2022123 included.. The AGE UK CHARITY QUALITY STANDARD ICQS) was renewed in Au9USt 2021 and gxtended in August 2022 ahead of a full reassessment in 2023, which al the time of writing has been completed. The International Quality mark Is0￿01 was successfully reassessed in January 2023 as part of a three-year certification running unts'l January 2024. The International Information Governance Oualty Mark IS027001 was successfully recertified for a Ihree-year period in Sgptember 2022. CYBER ESSENTIALS, gained in April 2021 was renewed in August 2022 to ensure the organisalion is following good practice lor protection from the increasing threats ol cybèr secuflty. The AGE UK INFORMATION AND ADVICE QUALITY PROGRAMME IIAQPI showing Ihat we offer a quality assured service was achieved in September 2019 and renewed in July 2022. The GREATER MANCHESTER EMPLOYMENT CHARTER was committed to with work planned for the 2023124. The Centre for Ageing Better Age-FTiendly EThployer Pledge was signed up lo in March 2023 and is being actively progressed. The standards are regulaTly reviewed to ensure we are balancing relevance and benefits and the financial and ts'ma costs for the charity. On this basis Investors in People was not renewed in the year and ISO 9001 will be reviewed at the next &year recertilic8lion point. d. Maln actlvltl•s undertaken to further th• ¢harlty'$ purpos•$ for the publ1¢ b•n&fft All Age UK Slockport's work is based on supporting kjcal people's wellbeiro. That is, to stay well, safe and living independently in their communities lor as long as ￿sSIble. The focus continues lo be on prevention antl building resilience, and with direct care and support in cenlres, the c(¥nmunity and in the home where needed. Throughout the reporting year we continued to provide practical, emotional, and social support to local people and their families, friends and carers through a holistic and strength-based approach and individually focused person-led delivery. These were delivered in the hospilal, in the communily and in people s homes. This included.. Information and advice and guidance where needed. Financial support with benefits including a focus on Blue Badge applications. Individual 5UPPOrt through the PreventK)n Alliance services- SlocktK>rt Support Hub and Your Support. Wellbeing al Homg Support through Ihg new Hmi8 Supwrt SeMc8. Hoarding and 06cluttering Specialist Support. Domeslic Abuse Support. Hospiial Discharge support for all pathways. Handy Help and Gardening Services. Social isolation and Befriending. A range of community activilies and Servi￿ all focused on supporting wellbeing- Ihe f￿￿S in the year was on social gngagément, walk and tslk, digitsl support, and active aging projects such as the Brinnington Local Pilot and Walking Football. On demand individual Ca￿ and support through charged-for supsx)rt services- Tandem Support Service and the Day Services delivered through Step Out st￿k￿l. Volunleering. Page 6 AGE UK STOCKPORT AND ITS SUBSIDIARIES TRUSTEES. REPORT- continued FOR THE YEAR ENDED 31 MARCH 2023 Oblèctlvès and actlvltlès (contlnu8d) We work with our Social Value Policy to caplure the ￿der social benefft. value, and impact our work delivers across the local area. This includes.. A main office base in the town Supporting loc81 employment and volunteering. A public prosen¢e by working within the new Stockport Town Centre Hub. Being a good local employer of 60+ slaff with over 80% Stockwjrt residents. Supporting apprenticeship in areas of digilal and adminislralion. Providing work placements for Pure Innovaknons. Providing support and mentoring to other organisations. Actively using Local Suppliers wherever possible with over 80% success. Promoting participation and engagement in many ways including positive volunteering. 95% of volunteers are local Stockw)rt residents. Being an engaged and active member of the local Voluntary Sector. Synergy and Sector 3. Being 8 positive part ol a number of coll8boralions l alliances I nelwcwks and p8rtners. Local commitment lo environmental awareness and suslainability- Promoting equity and fairness atxoss everylhing w8 do. and est*cially for people as they agg. We are continuing to develop new ways of reporting on this work in the (uture. A¢hlev•ments and performance . Key perfomianc• indicator8 The charity and group have continued lo achieve the objeciwe of delivering support and services to local peopl8 throughout the reporting year. As in all previous years this support W8s delivered al the hospital, in the community, and in people's homes when needed and all focused on our overarching missKJn of supportin9 [￿ple'S wellbeing. As expected, the main costs and agreed investmenl made to enable Ihe organisations positive response to the pandemic was reflected in the previous year 202112022 wilh a large defKat. The finances in the reporting year setued back to more Usual levels. b. Rovl•w of actlvlll•s The reporting year conlinuwj lo be locuse(l on the complex and mulli-faceled work of recovery from the previous two pandemic years and with a new focus on sh8ping the future of all aspects of the organis81ion lo positively rospond lo the new environment. The total number of 'contacts' made in the year was 45,979 Ihrough the different services and activib'es and including repeal contact to some individuals. Within this high-level contact activity 9,952 people were more directly supported and 6,674 people with case work The most signrficant feature of the year was. as in 2022, the continued increase in the complexty of the work which involves us working dosefy with many parlners to ad)ieve good outcomes for people. The above numbers show the high level ol acliwly. bul they do not indicale the significant positive ripple and often a wave that comes frorn most actions, bringing addilional benefiis to the individual and to their family and wider networks and community. Work is still ongoing lo better capture and measure the benefits and the wider value that comes from the work of the organisation. Delivery was through direct Age UK Stockrx)rt services and aciivities and through the collaborations mentioned in this report. Directly deliv&r8d s8rvic&s and actwitiès f￿Used on providing a rangg of pra¢ti¢al assistance supporting paoplg to live indépèndently and safély at home and includ8d the following". Page 7 AGE UK STOCKPORT AND ITS SUBSIDIARIES TRUSTEES. REPORT- continued FOR THE YEAR ENDED 31 MARCH 2023 A¢hie¥¢m•nts and ￿rfOrnIart¢0 {¢ontinuedl The Home Support Services (part of the new Earfy Help & Prevention Services) provided support to 1,698 people through 1,035 Age UK Stockport directty, and 663 through our partners Stockport Homes Iskylight, Signpost for Carers and Dis8bilily Stockport. This was the fir51 year of a new service so b.me energy went into mobilising all aspects. A specialist hoarding and decIL￿eling service worked with 93 people over a longer period and often coordinating across many other agencies to reach desired positive outcomes. A group to support those dealing with decluttering was also set up in collaboration with Spark. Handy Help and Gardening dgalt with 9.489 reqtjests ￿ support. handy help Ith in the home and a range of gardenin9 services. The Easy Shop service ceased lo be funded in April 2022 so was supw)rted from reserves for the reporting year to allow time lor support lo be provided lo find allemalive supwrt and lo give r*ople time lo adjust for th& planned mov& of the service lo a charged for service from April 2023. During the year 1.323 people were supported, showing th& ellective progress as down from 5,611 when fully funded. Age UK Stockport also ￿Came part ol the Sloc*port CLwncil Trusted Partner scheme enabling people to access the Govemmenl's l DWP Household Support Fund lo support with both winter warmth and cost of living challenges. Apart Irom a contribution lo admin costs the lund was fully dislribuled loi assistanc8 with while goods, @nergy (gas and el&ctricl top ups, household repairs. boiler repairs ¢y feplacemenls and shopping vouchers. As part of other work. a further 1,623 people were assisted generally with more minor home environmental issues. A core aspect of our work is on encour89ing and SUPk)Orting scoal engagement in all respects. This together has Involved 4,432 contacts. This included 159 Befriending contacts which was lunded from rosèrv8s for the first nin8 months ol the y9ar wth soma wel¢ome Coun¢il funding given to assisl dealing wilh tho growing wailing lists in Ihg last quarlor and into the following year. Digital Support was also given in 480 contacts. Our Public Office cl¢)sed in September 2020: howevef, SUPPOrt covering 8 wide range of general infomialion 8nd 8dvice, particularly benefits and blue badges, continued Ihroughoul the year. This Vdas mainly delivered on the telephone and online to 1,368 people, and like previous years, involved circa £1.2 millions ol bènefits daims. These new ways of working have been maintained as they have enabled more people to be conlacled and SUPPDrted. By the end of the year plans were also lo again offer some appropriate opportunity for face4(>f8ce Infomalion and Advice where nèede¢J. We ¢ontinugd throughout lo provide individual carg and support through both free and chargod-for Services. The Tandem support service provided 1,296 hours ol direct support to people al home or in the community. Direct support and respite were also provided lo many Carers, all in addition to other wide-ranging Sup￿ to Carers embedded across the organisation's services. OLJr work in thg Hospital remained high on the agènda as part of lackling the ongoing ch3lleng8s of èffèctive hospital discharge. A reduced team of staff from the 2021 newly fornied Hospiial Discharge Service worked dosely within the multi- agency Integrated Transfer Team at the Hospilal dealing with 5.502 referrals. This induded 792 referrals for placements to long term care. The number ol peopl& bènefiting from general SUP￿)rt, events and aclivities continued to increase over the yèar as anxiety about reengaging gradLJally ￿d￿ced. This included re-establishing valued groups from pre pandemic ts'mes, such as SDund Minds Group, contribub'ng to 321 mental healih support sessions. Ajso new groups such as Welcome Wednesdays with SlockFK)rt College and new activity-based engagement through lunding for a Local Pilot Scheme in Brinnington providing 660 great activitie5 such as Walking Football. Communrty Walks. and Confidence Walks. From circulation lists and website usagg tho numbers of peoplo b$nofiting from otrt News Sheet are also increasing. Other key services are delivered in partnership with others. wilh Age UK Stockport workers embedded within partnerships that deliver Earfy Help and PreventK)n Services. These were commissioned by Stockport Council from April 2022 and were made up of eight services, including the Home Support delivered by Age UK Stockport and partners noted above. This was thè first yaar of dèlivéry of thèsè s6rvices. so timè and ènèrgy wènt into mobilising all aspècts. Page 8 AGE UK STOCKPORT AND ITS SUBSIDIARIES TRUSTEES. REPORT- continued FOR THE YEAR ENDED 31 MARCH 2023 Achl•v8mènts and p8rfornianc• Icontlnuadl Age UK Stockport is part of two other partnerships that are reported separately as follows. A5 part of The Prevention Alliance ITPAI wth our partners Stockport Homes sk￿Ight. Jigsaw Support, Talk Listen Change and Nacro. The TPA delivers the central Slockport Supporl Hub which dealt wilh 5,794 referrals in its firsl reporb'ng year, all ol which were received vis telephone or online referral syslem. Information & Advice was provided on 2,741occasions with a wide range of other support induding 847 referrals to focNJbanks. The Support Hub also referred 1,551 people to other services within the Earfy Help & Prevention group. inclu(Jing 491 to Age UK Stockport's Home Support. Also as part ofThe p￿ventIon Alliance ITPAI 'Your Support, Age UK Siockport and other alliance partner workers provide a dedicated key worker to help people make changes lo improve health and wellbeing. Your Support dealt with 1.367 referrals. Work included advice on 708 occasions, digital support on 741 occasions, 299 BSL interpreter sessions for 33 people, and onward referrals or signp05ting on 417 and 547 occasion5. As part of a new partnership delivering the Domestic Abuse Support service for those unsafe in a relationship, ong skilled Age UK Stockport worker is embedded in the leam with partners Stockport Without Abuse, Stockport Homes Skylight, and Talk Listen Change. The service received 594 referrals and supported 111 people over the year. Step Out Stockport The subsidiary company Step Out Stockport has provided day services and activities sin¢e 2014 and forms part of thesg consolidated accounts. Step Out offers important seryices. highly valued by its members and is also included on the SMBC day services framework. From the start. Slep Out has sel oul plans and actions to ensure it is delivering a quality service that is meeting Ioc81 needs and covering ils costs to ensure future sustsinability. As in the previous year, a lot of detsiled work was undertaken during this reporting year focused on achieving these two outcomes. 2020 and 2021 were untypical pandemic y•afS for Step Out wth inle¢tion control measures limiting numbers and only financial support from the Council enabling continued opening for the most vulnerable members. That is those members whostr ntseds, orfamily situations were wartled as very vulnerable and in need of the support. Al the start of th& reporting year April 22 plans were developing lo relax the limits on numbers required for safe infection control and open Slep Out up lo higher numbers, re¢ognising the nee(1 lo fetum lo the I￿￿$ of rg-estsblishing a sustainable model. During the year, 3,782 sessions were dg1iv¢red by a dedicated team of staff. The main issue idenlrfied as a risk continues lo be the declining stsle of the building the services are delivered from and the need for good future plans ol m8inlenance. Unller the tenancy via st￿kpOrt Council's agents, discussions are ongoing to tscklg this challenge. c. Invostment pollcy and perlormanc• Over811 responsibility for investment of the Charity's lunds lies ￿th Ihe full Board of Trustees and Directors. To support this, thè organisab'on has a comprehensivè Investm8nt Policy that is r8view8d atlgast annually by th8 Board. This policy provides Ihe framework for making investment decisions, helping ihe Board to manage the charity's resources effectively. This includes underslanding and selting the Board's balan￿d altslude to risk. setting out clear investment objectives and setting out policies and procedures for appointing external experts as required. The Board manages the rèsources available for investmenl wi¢h advice from appointed indèpendent &xperts. The advisors provide monthly reports and attend to report dI￿dY to the Board in JulylAugust each year. The reappointmènt is also reviewed annually, and the Board noted again Ihis year that ihey remain an award-winning company. Throughout the year the market was challenging and volatile, and at the time of writing continues to be. so the quality of professional advice has been e55enlial. The charty's freehold property at Commonweal is a functional assetand a key strand in the long-temi investment strategy, so a designated fund ensures investment in maintenance. The value of the property had fluctuated over the year due to the unpredictable market and the potential effects of town ¢Jevelopments. The future use is being kept under ongoing review as its use has significantly changed in the post-parKlemic perKxl. A review of working practices and staff use is planned for early 2024 when optKJns wll be develo￿d. Page 9 AGE UK STOCKPORT AND ITS SUBSIDIARIES TRUSTEES. REPORT- continued FOR THE YEAR ENDED 31 MARCH 2023 Achl•v8m•nts and p8rformanc8 (contlnu8d) Overall, the Board is satisfied that the policy and performance remain the most appropriate for the current situation, particularly recognising the unpredictable fLrture. FlnancSal revlaw a. Going concem As noted in the 2021 report, a delicil budget had been expected in view ofthe many exlemal ¢hallenge5 from the p8ndemic and changes and costs in meeting them. However, in facl thal year finished posib'vely due to monies received in support of the Covid resFrt)nse and expenditure saved from closed off￿eS. As expected, the deficit did roll over and the year April 2021 to March 2022 saw a high defiat thatwas carefully monitored and accepted in the exceptional situation. It is therefore K>sitive lo see the accounts settling and moving away from the significani fluctuations of the covid years. The Board recognisgs Ihal 9￿1 govemance is essential for success and that the Board have a key role by ensuring the proper procedures and policies are in place to manage the charity's resources effectively. This has involved comprehensive risk management. clear designated funds to support service delivery commitments. investments, and commitment lo the appropriate use of reserves lo effectively support delivery 8s well as to secure future suslainabilily. The level ol resèrves has been maintainèd at six months of charit8ble eX￿nditUre. After making appropriate enquiries, the twslees have a reasonable expectstion that the charity has adequate resources lo continue in operational existence for the foreseeable fvture. The securing of three new five plus ￿0-year contracts from April 22 and recognised positive work in Hospital discharge has provided foundation to thi5, plus the receipt ol other grants and an expected legacy in the coming Iwefve I twenty-four months has strengthenèd this view. For this reason, thèy continue 10 8dopl the going concem basis in preparin9 the financial slalemenls. Further details regarding Ihg adoption of the going concern basis can be found in the A¢¢ounting Policios. b. Reservos pollcy Age UK Stockport's reserves policy is ￿VieWed annually and continues lo be based on a free reserves approach. Total funds held al 31 March 2023 We￿ £2,653.114 compared lo £2,276,748 al 31 March 2022. Designated funds held 8131 March 2023 were £1,239,818 compared to £1,659,818 al 31 March 2022. Free Reserves al 3131 March 2023 were £173,051 Free reserves are defined as unreslricled funds which have not been earmarketl and may btr used generally lo further the charity's objeclives. e. Mat•rlal Investments polbey The reserves policy and the cautious investment of funds is as detailed above. 11 is Trcognised that reserves are held lo htrlp the Charity operate effectively and lo be effedively spent on the charity's purpose. After reviewing and maintaining thg rg$erve$18vel th9 Board made a careful dèsigna1￿In of funds against known andlor planned expenditur8 in Novèmber 22. This included a continuab'on ol the designatson regarding the spending ol reserves to support agreed areas of both delivery and development, part of Ihe Board's commitment to use the organisalion's resources for public benefit and is being carefully monitored Ihrough Ihe Truslee Finance and General Purposes Commiitee. Page 10 AGE UK STOCKPORT AND ITS SUBSIDIARIES TRUSTEES. REPORT- continued FOR THE YEAR ENDED 31 MARCH 2023 Finan¢ial re¥igw l¢ontinued) d. Principal funding The main elements of income and expenditure We￿ as folk)ws= Income Charitable activf(ies Activities for generating funds Donations & legacies Investment incomtr 2023 2022 2021 85% 80% 75° 10% 17% 17% 4% 2¥. 1% 1% Expenditurn 2023 2022 2021 Charitable activ((￿5 Cost of gtsneraling funds Governance costs 81.3% 80.6% 82.8% 10.4% 11.4% 12.3% 8.3% 8.0% 4.9% Incoma shows 8gain a strong fo(>J8 on charrtable incom6 an¢J an active approach lo generating incom& to d881 with charitable spending deficits. The changes in the income percentages were 18rgely due lo the monies received under the Government DWP Household Support Grant and Stockport MBC Trusted Partner scheme. Donations and legacies. always unprgdictable, werg higher due lo a legacy receipl. Expenditure and Governance costs remained consistent with the previous year. Al the year-end, as in the previous year. a deficit budgel was accepted 2023124 to ensure needed sgrvlces continued to ba SUPPOrted and funds would be available for conlinuation ol recovery and idèntified d8velopment. This included specific dacisions by the Board to continue lo support thrge key areas.. to cover ¢entral ¢osts to gnable participation in vitsl preventative collaboration5', providing some inveslmenl lo return io developing essenlial social care support services., and supporting volunteering and belriending an(J slxial istyalion services. Stwcturei gov•m8n¢• and managem•nt . Constltutlon The charity is registered as a charitable c(ynpany {charity number 11395471 limited by guarantee and was set up by Mgmorandum of Association. The Board takes a proactive approach to governance and undertakes regular checks and external assessments to benchmark against respected codes an¢J standaT(Js. This includes Charity Commission guidan￿ and the Charity Govern8nctr Code framework as recenily refreshed. This enaues Ihe Boar¢J lo have confidence in the organisalion's strong govgrnan¢g for the futurg. b. Mathods of appolntmont or el•ctlon of Trusto•s The Directors of the company, who are the Charity Trustees, fom the Board of Age UK st￿kport which is thg governing tx)dy of th8 organisats'on. Th8 manag8m8nt of the charity and the group is the responsibility of the Trust88S. Trustees are elecled by the members at ihe Annual General Meeting or cTropted by the Board under the terms of the Articles of Association, which prescribes 6 elected members plus a chairperson. New Board members are elected or c opted lor the skills 8nd expenence they can bring lo the Board and are not required lo members al the lime of election bul bgcomg m$mb$rs on appointment. Dtlring reporting year the￿ was one va¢an¢y. The organisation has benefited from a stable and experienced Board over several years, with positive succession planning leading to both the appointment of a PTOPOrtion of new Irustees and a change of Chair in 2018119. Following a vacancy al the end of the last year a new Trustee was appointed during the reporting year, therefore maintaining a pos11ive balance of èxperience and the challenga of new idèas, which assists thè Board trj increasè divèrsity, bè responsivè lo chang8 and be forward looking. Page 11 AGE UK STOCKPORT AND ITS SUBSIDIARIES TRUSTEES. REPORT- continued FOR THE YEAR ENDED 31 MARCH 2023 Structur8, govèrnancè and manag8m8nt Icontlnuédl . Organisational structure and decisionwmaking policies Board members are re5pon5ible for the proper governance of the Charty and deter￿ine the strategy and policy to be undertaken in accordance with the objeclives as stated in the Memorandum and Articles. They seek to achieve the objectives and work for public benefit and wider social value while at the same time ensuring that the Charity is not exposed to undue risk. Thtr full Board generally meets lormally six times a year and operates lo estsblished term5 01 reference and within a Conflict-of-lnterest Pdicy with dèclarations of interèst a standing agenda item. The Board receives ￿pOrtS from two standing sub-committees and other task andlor time limited s￿￿cOmMitteeS as required. 11 also receives a report from the Chief Executive at each meeting together with other reports as appropriate relating to services, governance issues and I or the wider environment that the organisation works in. The Chief Executive and other members of the Senior Leadership Team r8gu18rfy attend and inf(*m the Board. The Trustee sub-committees include a fomially constsluled Finance and General Purposes Committee, which meets prior lo each of the Board meetings to provide more detailed oversMJht of finances and other governance issues and make recommendations lo the full Board. The Finance officer attend5 this meeting to present the accounts and provide any information or detail needed. The second standing committee. Risk & Quality. provides more detailed Scrutiny of the Ri8k Register and quality work and stsndards. In additson, a succession sub-committee is maintained as appropriate. Other subrting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Stsndards, in¢luding Finan¢ial Reporting Stsndard 102-Th8 Financial Reporting Standard applicable in the UK and Republic of Ireland Iuniled Kingdom Generally Accepted Accounii'ng Praclicel". In our opinion. the financial slatemenls.. givo a truè and lair view of the stale of the group's and the parent Charitable company's affairs as at 31 March 2023 and of the group's incc#ning resources and application ofresources. lor the year Ihen ended., have been properly Prepa￿ in accordance with United Kingdom Generally Accepted A¢counting Practice,. and have been prepared in accordance with the requirements of the Companies Act 20L￿. Basls for oplnlon We conducted our audit in accorda￿$ with InlernatIc￿aI Standard$ on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Audiiorfs responsibilities for the audit of the accounts section of our report. We are indep8ndent of the charitable company in accordance with the ethical requirements that are relevant lo our audit ol the accounts in the UK, including the FRC'S Ethical Standard, and we have lulfilled wr other ethical r$S￿nsIbIlItieS in a¢cordan¢e with thesg requirements. We believe that the audrt evidence we have obtain8d is sufficient and appropriate to provide a basis for our opinion. Concluslon5 relatlng to golng concorn In auditing the financial slalemenls, we have concluded Ihal the Trustees use of the golng concern basls of accounting in the preparation ol the financial stalement is appropriale. Based on the work we have perfomed. we have not identified any material uncertainties relating lo events or conditions that, individually or collectively. may c8sI significant ¢Joubl on the charity's ability to continue as going concern for a period of al least ￿efve mmlhs from when the financial stalemenls ar8 aulhorised for issue. Our responsibilf(ies and the responsibilitie5 01 the Trustees wilh respect to going concem are described in the relevant sections of this report. Oth•r Infomi¥tion The olher inlormatK)n comprises the inforn)al￿n included in the annual report, other than the financial statements and our auditor's report thereon. ThetrUs1￿areres￿wtsllle for other infomiakn cy)ntained within the annual repK¥t. Our opinion on the financial slatemenis does nol cover the other information and, except to the exlenl otherwise explicidy staled in our report, we do not express any form of 8s5ur8nce conclusion thgreon. Our responsibility is to read thg Other information and, in doing $0, consider whether the othgr information is materially inconsistent with the financial statements or our knowledge obtainèd in the audrt or otherwise appears to be maierially miss(aled. If we identify such material inconsislencies or apparent material misstatements, we are require(I to determine whether Ihis gives rise to a material misstatement in the financial statements themselves. If, based ¢)n the work we have performed, we Gonclude that there is a material misstatamènt of this othgr information, we arg requirèd to rew)rt that fact. We have nothing lo report in this regard. Page 17 AGE UK STOCKPORT AND ITS SUBSIDIARIES INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF AGE UK STOCKPORT- Continued Oplnlons on other mattèrs prèscribed by th• Companles Act 2006 In our opinion, based on the work undertaken in the course of our audit.. the information given in the Truslees. Reportfor the financial yearforwhich the financial statements are prèpared, which indudes thè dirèctorfs rep￿1 prepared for the purposès of company law. is consistènt with the financial slatemenls., and the directors. rety)rt included within the Truslees. Report has been prepared in accordance wf(h applicable legal requirements. Matt¢rs on whl¢h w¢ ar¢ r¢qUIr￿ to report by exception In the light ol the knowledge and understanding ol the charitab￿ company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors, report included within the Trustees, Report. We have nothing to report in respect of the following matters in relation lo which the Companies Act 2006 rgquirgs us lo report to you if, in our opinion." adequate accounting records have not been kept bylhe parent charitable company, or relums adequate for our audit have not been received from branches nol visited by us., or the p8renl ch8ritsble company finanual statements are not in agreement with the accounting records and returns, or certain disclosures of trustees. remuneration specified by law are not made.. or we have not received all the infom)ation and expLqnalions we require for our audit-, or the Trustees were no¢ entitled lo prepare ihe financial statements in accordance with the small companies regime and tske allvanlage ol the small companies, exemptsons in preparing the Trusl8e8' r8port and from the requirement lo prepare a strategic report. R•spons5bllltle8 of tho Trustees As explained more fully in the Statement ol Trustees. Responsibilities. Ihe Trustees. who are a150 the directors of the charity lof the purpose of comp8ny18w. are responsible f¢x the Pfeparats'on of the financial statements and for being salisfigd Ihal Ihgy give a true and lair vigw, and lor such internal control a$ the Trust&es determine is necessary to enable (he preparat￿n of financial slalemenls that are free from malerial misstatement, whether due lo Iraud or e￿01. In preparing ihe financial statements, the Trustees are responsible for assessing the charity's ability to conlinue as a going concern. disclosing. as applicable, mallers relaled lo going concern and using the going concein basis of accounting unless the Trustees either intend lo Ilouidale the ch8ri1able company or to Cease operations, or have no realisbc alternative bul lo do so. Aud5tor's responslbilltles tor the audit ot tho financlal statements Our objects'ves are lo obtain reasonable assurance about whether the financial statements as a whole are free from materi81 mi55tatemenl. whether due lo fr8u¢J or error. and lo issue an 8uditorf5 re￿rI that includes our opinion. Reasonable assurance is a high level of assurance, ixjt is not a guarantee that an audit ¢ondu¢led in accordance with ISAS IUKI will a￿layS delect a malerial misstalement when it èxis&. Misstatements can arise from fraud or erTor and are considered material if. individually or in Ihe aggregate. they could reasonably be expected lo influence the economic decisions ol users taken on Ihe basis of these financial statements. Irrggularitlgs, including fraud, are instan¢gs of non-¢omplian¢g with laws and regulations. We design procedures in line with our responsibilities. outlined at(Jve. to delecl material misstatements in respect of irregLJlarities, including fraud. The extent to which our procedures are capablè of detecting irregularities, including fraud, is detaile¢J below. Pag¥ 18 AGE UK STOCKPORT AND ITS SUBSIDIARIES INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF AGE UK STOCKPORT- Continued Based on our understanding ol the charilable company and sector, we identified that the principal risks of non-compliance with laws and regulats'ons relaled to, but were not limited to, the Companies Act 2006, the Charities Act 2011. employment, pension and health and safety legislation anij we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered thosè laws and regulations that have a dirèct impact on the prèparation of the financial statemènts such as the Companies Act 2006 and the Charities. Statement of Recommended Practi￿. We evaluated managernent's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related to man8gem8nl bias in accounting eslimales and ju(Igements and th8 risk of frau(l in revenue recognition. Our procedures to respond to risks idenknfied included the following.. reviewing the financial sl8lement di￿105Ures and testing lo supporting clocumentslion lo assess compliance with provisions of relevant laws and regulations described as having a dir￿¢ effect on the financial slatgments- enquiring of management aboLrt actual and potential libgation and daims, their policies and procedures to prevent and detect fraud as well as wheiher they have knowledge of any actual, suspected or 8lleged Ir8ud; performing 8n8lylical procedur8s to identify any unusual or unexpected relationships that may indi¢alg risks of material misstalemenl due lo Ifaud". reading rninutes of meetings of those charged wilh govemance; obtaining an understanding of provisions and holding discussions with management lo understand the basis of recognits'on or non-recognilion of provisK)ns.' and in adtlressing the risk ol fraud through management overr#Je of controls". testing the appropriateness of journal gnlrigs., assessing whether Ihe accounting eslimales, judgements and decisions made by management are indicative of a potential bias,. and evaluating ihe business ratKsnalg of any significant transactions (hal are unusual or outside the nomial course of business. We also Communicated relevant Klenlified18WS 8nd regulations and potential fr8ud risks lo all engagement t9am members and remained alert lo any indication$ ol fraud or non-wnpliance with laws and regulations throughout th9 audit. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial Iransaclions, Ihe less likely il is that we would become aware ol non- compliance. Auditing standards also limit the audit pr￿edureS required to idenlrfy non-compliance with laws and rggulations to enquiry of thè dirg¢tors and other managèmgnt and thg inspection ol regulatory and 18gal correspondence, if any. Malerial misstalements that arise due to fraud can be harder to delect than those that arise from error as Ihey may involve delitserale concealment or o)IIu5ion. A further description of our responsibilities for the audi¢ of Ihe financial statements is localod on tho Financial Reporting Council's website at.. htt .'IIwvthf.Irc.o .uklauditorsres nsibilitses. This description forms part of our auditor's report. Pag¥ 19 AGE UK STOCKPORT AND ITS SUBSIDIARIES INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF AGE UK STOCKPORT- Continued Usa of our rnport This report is made solèty to the charitablè CoMpan￿S m$M￿r$. as a body, in a¢¢ordance with Chapter 3 of Part 16 01 the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to stale lo them in an audilors. report and for no other purpose. To the fullest exient permitted by law, we do not accept or assume responsibility to anyone othor than th9 ¢harilable company and the thaiitsble company's mgmbers as a body. for our audit woik, lor this report. or for the opinions we have fomied. Chrlstoph•r Moss Bse F.C. IS•nSor Statutory Audltarl for and on behalf of Jackson Steph8n LLP 1211212023 Chartered Accountants Statutory Auditor James House Stonecross Business Park Yew Tree Way Warrington Cheshire WA3 3JD Pay¥ Xl AGE UK STOCKPORT AND ITS SUBSIDIARIES CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023 Rèstricted Unréstricted nds funds 2023 2023 Total funds 2023 Total fvnds 2022 Note Income from: Donations and legacies Charitable aclNities Other trading acts'vilies Inv8Stments 87.203 1.100.013 211.040 87,203 1.702,191 211,040 1,590 25,843 983,844 272,47 7 11,340 602,178 1.590 602.178 1.399.846 2.002.024 1,233,438 Total In¢omè Expenditurè (￿.. Raising funds Charitable aclNities 194,379 1.444.680 194,379 1,668,476 182,817 1,424,944 223.796 Total oxponditur• Net incomellexpendlturel before not loss•sVgalns on Inv•stm•nts 223.796 378.382 1,639.059 1239.2131 1,862,855 139.169 1,607, 767 (3T4,323) Nel Ilossesllgains on inves1￿ntS Net Incom•lltxp•ndltur•} Transfers belw8en funds Othor r•cognlsod galnsl(loss•s) Revaluation surplus on property Net movement In fund 1101,5031 1340,7161 {101,5031 37,666 3,268 378.382 (371,055) 16 338.700 {2,0161 338,700 376,366 378.382 (371,055) R•¢on¢iliation of funds.. Total funds broLJght forward Net movement in funds 523,163 378.382 1.753,585 12,0161 2,276,748 376,366 2,647,803 (371,055? Total funds Carrled forward 1.545 1.751,569 2,653,114 2,276, 748 The Consolidated statement of financial activilies includes all gains and losses recognised in the year. The notes on pages 25 to 42 form part of these financial slatements. Pag¥ 21 AGE UK STOCKPORT AND ITS SUBSIDIARIES **CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2023** |**Fixed assets**
Tangible assets
Investments
**Current assets**
Debtor
Cash at bank and in hand
**Note**
12
13
14
20
Creditors: amounts falling due within one
15
year
**Net current assets**
**Total net assets**
**Charity funds**
Restricted funds
Unrestricted fnds
Designated funds
General funds
Revaluation reserve
Total unrestricted funds
**Total funds**
16
16
16
16|319,094
631,400|||**2023**
£
742,678
1,153,493
1,896,171
756,943
2,653,114
901,545
1,751,569
2,653,114
_124,755_
_502,825_
_627,580_
_(159,501)_
_1,659,818_
_93,767_|_2022_
£
_428,673_
_1,379,996_
_1,808,669_
_468,079_| |---|---|---|---|---|---| ||950,494
(193,551)
1,239,818
173,051
338,700||||| |||||2,653,114|_2,276,748_
_523,163_
_1,753,585_| ||||||| ||||||_2,276,748_| These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The notes on pages 25 to 42 form part of these financial statements. Approved for issue on 01/12/2023 Ms Susan Carpentier Alting **Chair** **Page22** AGE UK STOCKPORT AND ITS SUBSIDIARIES **COMPANY BALANCE SHEET AS AT 31 MARCH 2023** |**Fixed assets**
Tangible assets
Investments
**Current assets**
Debtor
Cash at bank and in hand
Creditors: amounts falling due within one
year
**Net current assets**
**Total net assets**
**Charity funds**
Restricted funds
Unrestricted fnds
Designated funds
General funds
Revaluation reserve
Total unrestricted funds
**Total funds**
**Note**
12
13
14
15
310,479
541,741
852,220
(169,596)
1,239,818
144,274
338,700|**2023**
£
742,678
1,153,495
1,896,173
682,624
2,578,797
856,005
1,722,792
2,578,797
_106,797_
_411,489_
_518,286_
_(140,700)_
_1,659,818_
_48,816_
_2022_
£
_428,673_
_1,379,998_
_1,808,671_
_377,586_
_2,186,257 _
_477,623_
1,708,634
_2,186,257_| |---|---| As permitted by s408 of the Companies Act 2006, the charity has not presented its own Statement of Financial Activities and related notes. The charity's surplus was £392,540 (2022 - £354,952 loss). These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The notes on pages 25 to 42 form part of these financial statements. Approved for issue on 01/12/2023 Ms Susan Carpentier Alting **Chair** **Page23** AGE UK STOCKPORT AND ITS SUBSIDIARIES CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Cash flows from operating activities Net cash provided byllused inl operating activities 19 27,502 1273,4041 Cash flows from investing activitie5 Interest received 1.590 125,COO 669 Withdrawals from investment Proceeds from the sale of tsngible fixed 8ssets Purchasg of tangiblg fixed assets 5.750 25,517 28,249 Net cash Provided byllus¢d inl Inv•stlng a¢tlvitles 101.073 121,8301 Cash flows from Ilnanclng activStlès Net cash provld•d by financ5ng activities Change In ¢ash and cash •quSval8nts In the year Cash and cash equivalents at the beginning ol the year 128,575 1295,2341 $02.825 798 059 Cash and cash oqulval•nts •t lh• •nd of the yoar 631,400 502,82S The notes on pages 25 lo 42 form part of these financial statements. Pag8 24 AGE UK STOCKPORT AND ITS SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accountlng policl8s Charity Information Age UK Stockport is a prwate company limited by guarantee incorporated in England and Wales. The registered addrtrss is Commonweal. 56 Wellington StreeL Sl¢xkport. Cheshire, SK1 3AQ. 1.1 Accountlng Conv•ntlon The accounts have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 and 'Accounting ar￿ Reporb"ng by Charilie5'. Stslefflent ol Recofflmended Practice applicablg lo ¢harib'es preparing Iheir a¢¢ounts in a¢cordan¢e with th8 Financial Reporbn9 stsndard applicablg in the UK and Republic of Ireland IFRS 1021" las amended for a¢¢ounling periods commgncing from 1 January 20191. The charity is a Public Benefil Enlity as defined by FRS 102. The accounts are prepared in Sterling, which is functional c￿￿enCY ofthe charity. Monetary amounts in these financial statements are rounded lo the nearest £. The financial statements have begn prepared under Ihe hi$tori¢al Cost convention, modified to include the revaluation of freehold properbes. The prin¢ipal a¢￿unting policies adopted a￿ sel out below.. 1.2 Company status The charity 15 a company limited by guarantee. without share c8Pital. In the event of the charity being wound up, the liability in respect of the 9uaranlee is limiled lo £1 per member of Ihe charity. 1.3 Going concern Alter making appropriate enquwies, the trustees have a reasonable expectation that the charity has adequate resources lo continue in operational existence for the lore5eeable future. For this reason, they continue lo adopt the going concem basis in prep8ring these financial statements. 1.4 Ba$ls for consolldatlon The consolidated financial slalemenls comprise Age UK Slockp)rt, and its trading subsidiary, Step Out Stockport, along with th8 non-trading subsidiary. Age UK Stockport Trading Limited. The results of th8 $ubsidiari8s are consolidated on a line by line basis. The summarised Profil and Loss Accounl for the year ended 31 March 2023 and Balance Sheet as al 31 March 2023 for Slep Out Stockport and Age UK Stockport Trading Limited are given in the notes to these accounts. The charity has availed iiself olthe provisions of ihe Companies Act and adapted the Companies Aci formats lo reflect the special nature of Ihe charity's activitses. No separate SOFA has been presented for the charity alone as permrtted by Sects'on 408 of the Companies Act 2006 and Paragraph 397 ofthe SORP. No separate cash flow statement has been presenled for the charity alone as pemitted by FRS 102 °The Financial Reporting Standard applicable in the UK and Republic ol Ireland-. Pag¥ 25 AGE UK STOCKPORT AND ITS SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 1.5 Incom8 All income is recognised once the Charity has enliuement to the ino)me, it is probable that the income will be received and the amount of In￿rne r￿Nable can be measured reliably. Thè rècognition of incom8 from legacies is dependent on establishing entitlemènt, the probability of receipt and the ability to estimale with sufficient accuracy the amount le￿1Vable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence thal a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when il is probable that il will be re¢trived and the fair value of Ihe amount re¢eivabl&, which will generally b& the expected cash amount to be distributed to the Charity. can be reliably measured. Grants are included in the Consolidated Statement of Financial Activities on a Teceivable basis. The balance of income received for specific purp¢)se5 bul not expended during the period is shown in the re18vanl funds on Ihe Balance Sheet. Where income is received in advan¢e of ents'llemenl of receipt, ils recognition is deferred and included in creditors as deferred inwme. Wl)eie entillemenl o¢¢urs bgforg income is r&¢eived, the income is accrued. Gifts in kind clonaled for tlistribvlion aro induded al valuation and recognised as income when they are distributed to the projects. Gifts donated for resale are included as income when they are sold. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the lime of the donation. Income tsx recoverable in relation to investment income is r8cognised al the time the investment income is receivable. 1.6 Exp•ndlture Expendilure is recognised once there is a legal or constructive obligatson to transfer economic benefit to a third party, it is probable that a transfer ol economic benefits will be required in settlemenl and Ihe amount of the obligation can be measured reliably. Expendilure is cjassified by activity. The costs of each activity are made up of the lot81 of dire¢l costs and shared costs, Including support costs involved in under¢8king each a¢livily. Dirgct costs attributsble to a single activity arg allo¢ated directly to thal activity. Shargd wsts which ¢ontributg lo more Ihan ong activity and supporl ￿$ts which are not atlributablg to a singlg acts'vily are apportioned between those actsvitses on a basis consistent with the use of resources. Central staff costs are allocated on the basis ol limo spent, and deprecialK)n charges all￿ted on the portion of the asset's use. Expenditure on raising funds includes all expendtiure incurred by the Group lo raise lunds for ils ch8rrt8blg purposes and includ9$ CO$t$ of all fvndraising adivitie$ evgnts and non4haritablg trading. Expenditure on charitable activibes is incurred on direclty undertaking the activitie5 which further the Group's objective5, as well as any asswiated support costs. All expenditure is inclusive of irr8coverable VAT. Gov•rnm¢nt grants Government grants relatsng lo tangible fixed assets are treated as deferred income and released to the Consolidated Statement of Financial Acliviiies over the expecled useful lives of the assets concerned. Other grants are credited lo the Con501idated Siatemenl of Financial Activities as the related expenditure is incurred. Int•rast r8c8lvabl• Interest on funds held on deposit is included when r￿1Vable and the amount can be measured reliably by the Group,. this is normally upon notificalion of the interest paid or payable by the institution with whom the funds are detx)sited. Pay¥ 26 AGE UK STOCKPORT AND ITS SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Tangible fixed assets and depreciation Tangible fixed assets are Initially recognised al c05t. After recognition, under the cost model. tangible fixèd assets arè measured at cost less accumulated depreciation and any accumulated impairment lossès. All costs incurred lo bring a tangible fixed assel into its inlended working condition should be included in the measurernent of cost. Properties whose fair value can be measurwj reliabty are held under the revaluation rnodel and are carried al a revalued amount, btring their lair value al the dale of valuation less any subsequent a¢¢umulaled impairment losses. The fair value of the land and buildings is usually considered to be their market value. Revaluation gains and losses are recognised in the consolidated statement of financial activf(ies. Dgpre¢ialion is Charged so as loalbtxle Ihe cost of langible fixed assets less their residual value overtheir gslimaled useful lives. Depreciation is provided on the following base5- Freehold property Motor Vehicles Fixtures and fittings 1% per annum on a straight lino basis 5 years >5 years 1.10 Invostrnents Fixed asset investments are a lom of financial instrument and afe initially ￿cOgnised at Ihelr transaction cost and subsequently Measu￿ al lair valve at the Balance Sheet date, unlgss the valug cannot bg measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are comth'ned and presented as 'Gains ILossesl on investments, in the Consolidated Slalemenl ol Financi81 Activities. Invgstrnenls in subsidiaries arg valug(l al cost less provision for impaimient. Invgstments hold as fixod assgls arg shown al cost less provisicffl fcff impaim)ent. 1.11 Debtors Trade and other deblors are recognised al the setuemenl 8m¢xJnl after any trade discount offered. Prepayments are valued al Ihe amount p￿paid nel ol any trade discounts due. 1.12 Cash at bank and In hand Cash at bank and in hand indLKl8s cash and short-temi hiqhly liquid investmants wilh a short maturity of three months or less from the dale of acquisition or opening of the deposit or similar account. L5abilities and provisions Liabilities are recognised when there is an obligation al the Balance Sheet dale as a result of a past event, il is probable that a transfer of economic benefit will requiTed in settlement, and Ihtr amount of the settlement can be estimat&d reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debl or the amounl il has received as advanced payments lor the goods or ServI￿S it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Whero the effect of the time value ol money is material, the provision is based on the P￿sent value ofthose amounts, discounled at Ihe pre-iax discount rale thal reflects the risks specific lo the liability. The unwinding of the discounl is recognised in the Consolidaled Stalement of Financial Aclivilies as a finance cost. Pag¥ 27 AGE UK STOCKPORT AND ITS SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 1.14 Financial instruments The Group only has financial assets arvJ financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at thèir sÈtUemÈnt valuè with the èxception of bank loans which are subsequenuy mèasured at amortised cost using the effectsve inieresl method. 1.15 Pensions The Group operates a defined contribution pension ￿erne arHJ the pension charge represents the 8mounls payable by the Group lo the lund in respect of Ihe year Redundancy costs Redundancy costs are payable when employment is terminated befo￿ the nornial relirernent dale. or whenever an employee accepts voluntary redundancy in exchange for these benefits. The charity rgcognises redundancy costs when il is demonstrably committed lo either teminating the employment of Current employees according to a detailed fomial plan without possibility of withdrawal or providing termination benefits as a result of an offer made to encourage voluntary redundancy. 1.17 Fund a￿￿u￿tIng General funds are unreslri¢l8d fvn¢Js which are available lor use 81 the discretion of the Trusltres in furthgrancg ol Ihg 9engral objectives ol Ihe Group and which have nol Wn designated lor other purposes. Designated funds comprise unreslricled funds that have begn sel aside by the Trustees for particular purposes. Thé aim and usg ol each designated fund is s81 oul in the t)ot8S to th8 financial stat8monts. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The c051s of raising and adrninislering such funds are charged against the Specif￿ lund. The aim and use ol each restricted fund is s81 out in the not8$ to the financial statements. 2. Income from donatlons and legxles R•strbct•d Unr•strfct8d funds funds 2023 2023 Total funds 2023 Tot81 Fund$ 2022 Donations Government grants 87,203 87,203 19,064 6, 779 25,843 87,203 87,203 Total 2022 25,843 25,843 Pay8 28 AGE UK STOCKPORT AND ITS SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 3. Incomè from charitablè actlviti8s Restricted nds 2023 Unrestricted funds 2023 Total nds 2023 Total funds 2022 547.480 982,422 1,529.902 867,507 Contract services Other income Other grants 90,107 27,484 1,100,013 90,107 82,182 1,702,191 46,068 70,269 983,844 54,698 602.178 Total 2022 178.514 805,330 983,844 4. Income from other tradlng actlvlties Unrestrlcted Total Funds Funds 2023 Total Funds 2023 2022 Fundraising trading income 211,040 211.040 211,040 211,040 272,411 212,411 Total 2022 212,411 212.411 5. Inv•$tm•nt Incom• Unrestrlct•d Total Funds Funds 2023 Total Funds 2023 2022 Dividends receivable Bank interest receivable 70,671 669 1.5 1,5 1,590 1,590 11,340 Total 2022 11,340 11.340 Pag¥ 29 AGE UK STOCKPORT AND ITS SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Expenditure on raising funds Fundraising trading expenses Unrostrf¢t¢d funds 2023 Total funds 2023 Total funds 2022 Slep Out Stockport expenses Wages and salaries National insurance Pension costs 53.281 137,410 2.791 897 194,379 53,281 137,410 2,791 897 194,379 60,612 119,845 7, 172 588 182,817 Total 2022 182.817 182.817 Analy$ls of •xpendlture on charltable actlvltles Summary by fund typ• Ro$trl¢t•d funds 2023 Unmtrf¢ted funds 2023 Totsl funds 2023 Total fijnds 2022 Governance costs 1.742 200,870 152.218 331.716 2S3. 144 21 5.489 153,960 532,586 253,144 216,118 512,668 128,606 473,277 242, 776 147,859 414,032 24,394 Prevention Services Hospital Sgrvices Carers and Direct Care Serwces 629 Community Support Other charitsble expenditure 20.555 492.113 223,796 1.444,680 1,668,476 1,424,944 Totsl 2022 241,4 1,183,544 1,424.944 Pay8 AGE UK STOCKPORT AND ITS SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Analysls of oxpèndltur• by acthlti•s Activities undèrtakon directly 2023 Support costs T¢tsl funds 2023 Total funds 2022 2023 Governance costs 153,960 153.960 128,606 Prevention Services 532.586 532.586 4T3,277 Hospital SerNice 253,144 253.144 242,7T6 Carers and Dirscl Care Serv 216.118 216.118 141,859 Community Support 512,668 512.668 414,032 Other charitable expen(Jiture 24,394 1.514,516 153,960 1,668,476 1,424,944 Total 2022 1.296.338 128,606 1,424,944 Audbtor8' r•mun•ratlon 2023 2022 Fg9s payablg to the charity's auditor for the audil of the ¢harity annual accounts 7,800 9,000 Fees payable to the charitys auditor in respect of.. All non-audit services not included in the abov8 1,500 9.300 7,500 70,500 Pag¥ 31 AGE UK STOCKPORT AND ITS SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 10. Staff costs Group 2023 Cmup 2022 Wages and salaries Social security costs Contribution lo defined contribution pension st*emes 1.076,660 73,510 31,323 1,073,473 66,130 32.850 1.181,493 7, 7 72,453 During the year, the charity m8de redundèncy p8yments lotslling £nil (2022.. £13,496> There are no amounts relating to redundancy costs on the baLance sheet at the year end date (2022.. £nil). The av•rag• numb•r of parsons employed by the Charity durlng th• year was as follows.. Group 2023 G￿￿p 2022 Employegs 63 No employee received remuneration amoLJnling lo more Ihan £60.￿0 in either year. 11. Twst••s' remuneratlon and expen￿3 During the year, no Trustees received any remuneration or other benefits (2022 £nilJ. During the year ended 31 Mar¢h 2023. noTrustee expenses have incurred (2022 - £nilJ. Pag¥ 32 AGE UK STOCKPORT AND ITS SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 12. Tangible fixed assets Group and Company Fixtures and fltting$ Freehokl property Motor vohi¢l*s Total Cost or valuatw)n Al 1 April 2022 395.0(￿• 29.333 93,775 518,108 Additions 25,517 25.517 Revaluations 338,7 338,700 At 31 March 2023 733.700 29,333 119,292 882,325 DepreCiat￿n Al 1 April 2022 19,376 70,059 89.435 Charge for the year 23.7 2,389 24,123 50,212 Al 31 March 2023 23,7th) 21,765 94,182 139,647 Nel book value Al 31 March 2023 710,000 7.568 25,110 742,678 At 31 March 2022 395,OGQ 9,957 23, 716 428,673 The freehold pfoperty was valued on an open market basis on 24 April 2023 by A Thornton, a qualified firm of commercial propBty agents ind8p8ndent from the charity. The dir8Ctors considar tha valuation to be appropriate as at 31 March 2023. The carrying amount under the c05l model of the assets which have been revalued would have been £316,279 (2022. £327,201J. Pag¥ 33 AGE UK STOCKPORT AND ITS SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 13. Fixed asset investments Othèr fixad asset investments Group Cost or valuation At 1 April 2022 Additions 1.379.996 Change in market valu8 Withdrawal 1101,5031 1125,0001 1.153,493 At 31 March 2023 Not book valu• At 31 March 2023 1,153,493 Al 31 March 2022 1,379,996 All fixed asset investments are held in the UK. Investments In Other fixed subsldiary ass•t companifrs Investmonts Total Cha￿ty Cost or valuatlon At 1 April 2022 Additions Change in market value 1,379,996 1,379,998 {101,5031 1101,5031 Withdrawal {125,0001 1125,0001 At 31 March 2023 1.153,493 1,153,495 Net book value Al 31 March 2023 1.153,493 1,153,495 At 31 Mar¢h 2022 1,379,996 1,379,998 Pag¥ 34 AGE UK STOCKPORT AND ITS SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 13. Fixed asset investments Icontinuedl Principal $ub$idiarioS The following were subsidiary undertakings of the Charity.. Registered office or prlnciple place of busln8ss CommOrw￿l1, 56 Wellinglon Street. Stockpxvt. SK1 2A0 Cornmonweal. $6 Wellinglon Street. st￿k[￿*t, SK1 2AQ Company numbèr 08881836 Cla$$ of sharès Ordinary In¢lud•d In Holdlng consolldatlon 100.1. Yes Namès Step Out Stockport Age UK Stockport Trading Limited 02956519 (￿inary 100% Yes The financial resutts ol the subsidiaries for the year v￿re. Incomo Expondi¢urn Nam•s Los$ for tho poriod Not £ assotBllliabilitlos1 Step Out Stockport Age UK Stockport Trading Limited 211,040 {227.055} 11591 116,0151 11591 74,476 11571 14. Dobtorn Group 2023 GtDUP 2022 Company Comp8ny 2023 2022 Trade debtors Amounts owed by group undgrtakings Other debtors Prepaymtrnts and accNed inccffle 289,778 113.048 268,710 12,453 5,408 23,908 95,057 5,408 23,908 73 71,694 73 11,694 319,094 124, 755 310,479 106, 797 15. Cr¢ditors= Amounts falling du• ￿thIn on• year Group 2023 Group 2022 Company Company 2023 2022 Trade credrfcor5 Amounts owed lo group undertakings Other taxab'on and social security Other ¢rgditors Accruals 53,383 18,985 30,528 IT,863 5,607 56,372 55,186 5.672 125,245 8.154 6.769 57,062 55,186 28.268 125,245 8,154 S,669 193.551 159,501 169,596 140,7QO Pag¥ 35 AGE UK STOCKPORT AND ITS SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 1& statement of funds Stat•m•nt of funds- currènt y•ar A$at 0110412022 In¢om• EX￿nditUre Transftrs Galn Asat 11055esl 3110312023 Unrestrlctèd Funds Designated funds General contingency fund A¢¢ommodation and maintenance fijnd Property and activit￿S fund IT and inlr8slru¢ture fund Sp8cifi¢ Contingency lund Vehicle replacement fund Services delivery fund Ernergency planning fund Fundraising markeling fund 792,930 135,191 792,930 135,191 145,(HXI 1145.0001 70,011 259,000 66,301 105,000 37,885 48,500 70,011 1259.000 66,301 105,000 37,885 32,500 116,0001 1659818 420 000 1 239818 General fundB Property lund General reserve 395,( 1301.2331 {23,7fy)1 {1,615,3591 338,7 420,000 1101.5031 710,000 1198.2491 1.399.846 1399 846 1639 059 420 000 237 197 511751 Total unrestrlcted fundB 1 753 585 1399,846 1639.059 237 197 1751,569 Rostrlcted fundB Day care services fund 224,536 224,536 Other restricted fund Age UK grants DWP Household support fund Hospital Discharge support Clim81& action now fund Active 8geing activities 298,627 17.725 94.547 {S2.3501 {39.8491 264,002 54,698 300.000 1131.5971 168,403 101.000 51.887 37.019 101,000 51,887 37,019 523,163 602,178 223.796 901.545 Total of funds 2.276,748 2.002,024 1.862.855 237,197 2.653.114 Pay8 AGE UK STOCKPORT AND ITS SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 16. Statement of funds Stat•m•nt of funds- prlor y•ar Asat 0110412021 Income Expenditure Transfers Gainsl Asat 11055e51 3110312022 Unrg$trietod Funds D¢$ignat¢d fund$ General contingency fund Accommodation and maintenance fund Property and acbviligs fund IT and infrastructure fund Property Legacy fund Spe¢ifi¢ Contingency fund Vehicle rgplacgmenl fund Services delivery fund Emergency planning fund Fundraising marketing fund 792,930 142.315 792,930 135,191 {7,1241 245.(rf)O 1100.000 145,000 83,061 38.000 259,000 78,250 105,000 37,885 98,500 {13,0501 70,011 138,0001 259,000 66,301 105,000 37,885 48,500 {11.9491 150,0001 1,879.941 32,123 188,000 1 659.818 G•n•ral funds Property fund General reseNe 395,(N)O 1386,2661 395,000 1301,2331 1.054.924 {1,334,2381 381,079 3,268 8,734 1.054,924 1,334,238 361.079 93,767 Total unr•strlct•d lunds 1,888.675 1054,924 1,366.361 173.079 1,753,585 Restrlcted fundB Prevention services fund 155,323 1155.3231 Day care services fund 242,292 117.7561 224,536 Other restricted fund Agg UK winter pressures Walking l(K)tball Community champions Tackling inequalities 361,513 87.265 32.463 11.171 40.935 6,680 1150.1511 132,4631 {11,1711 {40,9351 16.6801 298,627 759,128 178,514 241,400 173,079 523,163 Total of funds 2.647,803 1.233,438 1,607,761 3,268 2.276.748 Pay8 37 AGE UK STOCKPORT AND ITS SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 16. Stat8mènt of funds Icontinu4dl Designated funds Thè G•n•ral Contlng•ncy Fund Represents funds set aside to miligale the risks and vulnerabiliti'es identif*d as parl of Ihe agreed Reserves Policy. The w)licy is to ensure that sufficient fvnds are available to meet committed costs for a period of six months of both restricted and unrestricted funds and this level has been maintained. Increases in income were in large part due to a limited lime involvement in distributing assistance to local residents around winter warmth and cost of living through a GoveinmenVDWP stheme. The ftjnd was ther8fore not increased and ltrft und)anged for this year 8nd will be fully reviewed in 2024. The Accommodation and Maintenance Fund The fund was 85tablished lo provide sufficient funds lo maintsin the building al Commonweal, which represents 8 key functional asset. As the Charity's administrative base. il is essential lo the efficient provision ol services and in re¢gnl years il has been a key lacloi in enabling parts'cipab'on in tenders. The balance is maintained lo refl8¢1 likely si9nifi¢anl costs regarding the windows and exterior decoration and possible costs regarding the extemal area at the rear ol the premises. As thi5 trend continues the Fund has been closed. Th¢ Prop?rty and Actlvltle5 fund The fund was rgpurposed in 2020 to be part of pandemic recovery in respect of seeking new allernalives lo the public presence previously offered by the office in Merseyway. which was closed in 2020. This is still an evolving environment with optsons still under consideration. However. the fund was reduced in 2022 as plans are now focused on shared space5 rather than the high costs of any wholly ownedlrenled location. Thi5 will be reviewed as part of the property review planned for 2024. Th8 IT and Infrastructure Fund Includes communications, infrastructure systems and supports the organisation's digital development and strategy. Following changes in 2022 the balance olthe fund has been maintained lo supw)rt further implementation oflhe digital strategy. Tho Spèclfl¢ Contlng•n¢y Fund Represents funds set aside as a contingery against a budgeted deficit and to support tha Charrty pursuing a development and investment budget to meel identified needs local older people. The Tru51ees have continued il Invest from reserves in services. including Befriending, So(ial isolation wofk and Digital support all repurposed lor supporting people during the ongoing pandemic recovery challenges. bul will do so through the budget and this Fund has b99n c10$9d. The Vehicle Replacement Fund Represents funds Sel aside lo purchase replacement vans use(1 in the Handy Help Service and was roduced in 2022 when a replacement vehicle was pur¢hased. A wider vehicle replacement review ￿MaInS on hold to check the future plans and to consider environmantal impact on the procurement options. Th8 Services Delivery Fund The fund w85 sel up lo respond to dual pressures ¢xJtside of the budget. Firstly, delivery in spe¢ifi¢ servicoslaclivities that fèll outsidg of the nèw local commissioning stratègy. and secondly to act a$ a ¢onting8n¢y for wssibla cantral support cosis beyond budget allocations. The fund has been maintained lo support this commrtment as, whilst new contracts are in place from April 2022, Ihey are sb'll finanaally stretched in lemis of contribution to central costs. This was further used to support being pari of the Councils trusted partner scheme which came wrth low administrative support. In 2023124 il will also be used to support a shortfall flowing a low inflation uplift in the NHS Foundation Trust contract lor Hospital DischargÈ Support. The Emergency Planning Fund Represents a fund set aside to provide general backup in Ihe case of an emergency event. The fund was reduced in the previous year lo refiect that more redundancy is buim into sorne other parts of the budget. 11 has been maintained this year al what is eslim8led to be a ￿%)￿ level for additional business continuity issues. Pag¥ 38 AGE UK STOCKPORT AND ITS SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 16. Stat•m8nt of fun(Is Icontlnu•dl The Fundraising Marketing Fund The fund is to support the costs of plans for inc¥eased markeling of charged-for services. fundraising and new developments. Marketing continuès to devèlop induding new opportunities with Al, other digital and social media developments and fundraising plans despile being delayed by the pandemic. The fund was reduced to reflect the current market. General fund5 The Property Fund has been set up to assist in identifying those fiJnds that are not free funds and it represents the net book value of the property. The general reserve represents the free lunds of the tharity thal when in surplus are notdesignaled for specific wrposgs. Restricted funds The Day Care Seryl¢o5 Fund Represents funds don81gd lo support the delivery 8n¢J development ol day Ca￿ services providtrd by Slep Out Stockport. Following Ihe allocalion of managemenl cosis ¢0 Age UK Stwkport lof supplying all cenlral support and management costs, the year finished with a deficit that reduced the Restricted Fund accLJrdingly. Other Restrlcted Fund Represent grant monies received including wor11 in hospitsls an¢J the community. 11 also includes a wide range of Wgllbeing support and general prgven¢ative work. In Ihe reporting year Ihis included money to support Social Isolation and 88fri8nding, a Small Transport Fund and a grant lo providg prevention $upport to vulnerable clienls. Ago UK Grant5 Represents various grants from Of admrnlsle￿0 through Age UK. The18rgesl is the EON Warm Homes Funds whlch supported both Benefit claims and wami homes 1nl0miat￿n and rgsourcgs. It also included a Tackling Ingqualities granl. the gnd of a Transport grant and a Cost of liviThJ grant that supportgd Infomialion & Advicg sgrvico$ through a secondment from Cilllens Adv￿8. DWP Household Support Fund- Tru$t•d Partner S¢heme The HSF Fund is a national granl scheme funded by the Departn*nl of Works & Pensions adminislergd Ihrough Stockport SMBC to S9Vgn I(￿1 VCSE organisations. including Age UK Stockport. Tho purpose of thg fund is to support vulnerable households in most need ol support to help with significantly rising living costs. Hospital Discharge Support Receivgd al the year end and related to a 9ranl focused on suprxxting additional staffing and ￿sourCeS for discharge. Cllmat• Actlon Now Fund Provided work and resources in people's homes lo support gooj environmenlal action and contributed to saving energy use 8nd costs. The activity took place in SloGkport wards that financially SVPFK>rted the CAN Fund. Actlvo Agelng Actlvltl•s This includes the Local Pilot. fvnded through Stockprxi MBC, which provides staffing costs in support of activities contributing io the ONE Stockpc¥i Active Communities Siralegic Nelwork. It also included additional funding broughl in lo support specific activ￿.es, such as Vvalking Football. Pay8 AGE UK STOCKPORT AND ITS SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 17. Analysls of nat assèts b8tw••n funds Analysis of net assets between fund5-current year Unr•strlctèd Total funds fund 2023 Restricted funds 2023 2023 Tangible fixed assets Fixed assgt investmgnls Current assets Creditors due within one year 742,678 742,678 1,153,493 1,153,493 48,949 950,494 1193,5511 1193,5511 1,751,$69 2.653,114 9)1.545 901,545 Analysls of not ass•ts b•tw•on fvnds - prlor ￿31 RestrKted Unrestncled funds fijnds 2022 2022 Total funds 2022 Tangible fixed assets Fixed asset investments Currenl assels Creditors due within one year Total 428,673 428,873 1,379,996 1,379,996 104,417 627,580 159,501 159,501 523, 163 523,163 1.753,585 2,276,748 Pay# 40 AGE UK STOCKPORT AND ITS SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 18. Net income from trading The company has 100% control of Step Stockport ISOS), which is incorporated in the United Kingdom and regisleied in England and Wales (Company Registration No". 088818361. The subsidiary provides adult ca seNicas. The company also owns 100% of the shares in Age UK Stockport Trading Limited IAUKSTI, which is incorporated in the United Kingdom arHJ registered in England (Company Registrats"on No.. 029565191. The subsidiary did not trade in thg year. All incom8 and expanditu￿ for both the above subsidiariès has beèn consolidated on a line by line basis in th8 SOFA. The accounts for the year ended 31 March 2023 have been audited and will be filed at Companies House. A summary of the financial positions for the year en(le(131 March 2023 are given below". ProfSt and loss account 2023 sos 2022 sos 2023 AUKST 2022 AUKST Tumover Cost ol sales Gross profit Adminislralive expenses Loss for the year 211,040 174,823 36,217 52.232 212,411 153,090 59,321 77.077 159 159 Balanc• sheot 2023 sos 2022 sos 2023 AUKST 2022 AUKST Current assets Creditors- falling due wiihin one year Nel assets 110.601 36.125 74,476 114.899 24.408 90.491 126 283 157 35 33 Share capital Profil and loss reserves Total 8quity 74,476 74,476 90,491 90.491 159 157 The Step Out Stockport and Age UK Stockport Trading Limited figures as shown above relating to the provision of adult care services have b￿￿ included as income and expenditure in the Staternenl of Financial Activitie5 and the ￿lated notes rather than commercial trading yrations, to better ￿fflect the natu￿ ofthe Charity's activities. AGE UK STOCKPORT AND ITS SUBSIDIARIES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 19. R8conelllatlon of nèt mov•m•nt In funds to nèt cash flow from 0￿ratIng actlvhl•s Group 2023 Gmup 2022 Net incomelexpenditure for the year las per Statement of Financial Activities) 376,366 (371,055) Adjustments for.. Depreciation th8rges (Profitllloss on disposal RevalLJation of property Losses on investments Dividends received Interest received Ilncreaselldecreas8 in debto Increasg in creditors 50.212 23,593 {5, 750) 1338,7001 101.503 (3,268) (10,671) (669) 83, 182 11,234 11.5901 1194,3391 34,050 27,502 (273,404) Nel cash provided by I (used inl operating acbvTtses 20. Analy818 of cash and cash equbval•nts Group 2023 Gmup 2022 Cash in hand 631,400 502,825 21. Analysls of changes In net debt Other non cash At31 ¢hanges March 2023 At1 April 2022 Cash flows Cash at bank and in hand 502.825 128,575 631,400 502.825 128.575 631,400 22. Ponsion commitments The charity operates a defined contributions pension scheme. The assets of the scheme are hèld separately from those of the charily in an independently adminisiered fund. The pension cost charge represents contributions payable by the group lo the fund and amounted to £31.323 {2022.. £32,850). Contributions totalling £nil {2022.. £nill were payable to the fund at the balance sh￿1 date and are included in ¢ieLlllo￿. 23. Related party transactions There were no related party transactions in the year. Pag¥ 42