Company registTr¢ion llther. 07S40805 Charity re8istration number: 1141415 Age UK South Lakeland Ltd known as A8e UK South Lakeland (A company limiied by ¥uDrantc¢) AnnuAI R¢port and Finan¢io1 Sl#t¢m¢n for thc A8e UK South Lakclarml Ltd Group for ihe Yeor Ended 31 March 2024 Stables TIKJmpson & Briseoe Chartered Aeeouniants & Statutory Auditors Lowther How4¢ towther Streei Kendal Cumbria LA9 4DX
Age UK South Llkeland Ltd as Age iJK South Lakelgnd CoDteDts Referenee and Adminislrntive D&ails Tnwted Rep)rt 2to8 Ind4)endent Auditort Report 910 11 Consolidated Ststemettt ofFin8ncio1 Adivili 1210 13 Consolidoted Bal She¢t Balance Sheet ConsolidAtsd Statement of C•Jh FioB 16 Nol¢6 th¢ S¢a*nKnts 171044
Age UK South IAke12nd Ltd knoyrn as Age UK South Lakeland Reference •nd Adminlstratlve Detalls Chlr C M Twjst Chief Execlltlve Offleer P Whikley Senlor MallagemtDt l L¢dershlp M Kitclu. Fitithet Mkna8er Team G Hartley. Head of RetaiVlrK(MrK Gcncration H Kitthing. Demi Chief Execthive Ch*rlty R¢EkntrAtloll Number 1141415 Collwny Regls¢ra¢lon Nller 07540805 The ctrority is io Eng]alld. 17 Finkle Street Kendal Cwnbria IA9 4AB Registered Offlee Audltor Stables Tkntryson & Bri5coe L&)vrther House er Street Kendal Cumbria LA9 4DX Solleltors 28A Finkle Styeet Kendal LA9 4AB BaDkers Barclays Bank PLC 9 Highgate Kendal LA9 4DF Pa¥e I
Age UK South Lakeland Ltd known as Age UK South Lakeland Trustees, Report Th¢ trustees, who are directorg for the purpos¢5 of ¢ompany law. present ihe atlnual r¢port together with the fumncial Statements and audilors, repon of the chdritablc ¢¢)mpany for thc ye8r ended 31 March 2024. Tr rinancial Staments have been prepared in accordance with the accouniing polici&% Set out in notes to the accourtis and cornply with th¢ ¢harity's governing dument, the Charities A¢t 2011 and Accounting atMI ReporLing by Charities.. Stam¢nt of Recommended Practice applicabl¢ to charities prepariTh¥ thcir Ounts in xcordance with the Financial Reporting Stsndard applicable in the UK and R¢public of Ireland publisbed in oOber 2019. Trustees and offieers The truste&s and officers serving during the year and siD¢e the year end were as follows: Trustee5'. J Airey (appointed 7 Jwie 2023) C E Lewis B J Mccann S Newell C M Twist Chair: C M Twist Chief Exccutive OtrLcer= H Tomlinson (resigned 31 December 2023) P Whiteley (appointed l Janry 20241 Senior Manogement l Ladership P L£wi5 {re5igncd 31 DeecmbEr 2023) P Whiteley Iresigned 31 Dec¢mb¢r 2023) M Kitchen H Kit¢hing Iresigned 31 December 2023) G Hanley H Kitchin8 {appoin*d l January 20241 Objectlves and aetivldes Obie¢ts and Alw$ Th¢ trust¢cs of Age UK Souih Lakeland consider their purpose is to govern an Organi110n that exists ts) improve the lives of older peopl¢ in South Lak¢land. Our ambi(ion is that in South k¢land ¢v¢ryoD¢ later life= - Has a de¢enl income - Can feel well 8nd enjoy life as much a5 Possible - Ctyn ac¢¢ss high quality he81th atml services - Feels cotnfortable. safe and sc¢ur¢ at home - Fecls valued by thcir local communiry with opportunities to Joi voluntter, Icarn or work - A5 a Citizen wilh rights, has their voice heard and can influence deei5ions thar affect them Pag¢ 2
Age iIK Soutti Lakeland Ltd known as Age UK Sovth Lakeld Trustees. Report Our strategy as we work towdrd our objects and all over the three )Tws is to work with 8tyJ for older pcople in onkrlo: - PTovid¢ iDform8tÈOTL advice and $1S¢t that helps pp)ple to ¥¢css atKI exercise choice to m best use of their resouTC¢S a1 itTWVC thcir cxpuiaKe ofdaily life - Help build 5trongtt commwiiii¢s inuease pcople's Social contsd atMI wellbeing - Support the development of nKJre [upve health and Klfawe seryi¢es thai offer p¢x>pl¢ holistic and tiTrtely setvices refleciing th¢ir need5 and ¢trcUTfta - Help the voices of older people and thetr lived CXPETience to heard - Generate indq)endcnt incoThK streams that et¥ble to invest in aclivity lch is not a eurrertt public stttor priority Our ambition cannot be achieved only by our adion within South L4keland. We will CODtsnue w work and thr¢)ugh Age UK nationally, with whom w¢ are Brand Pne[S and have a shared overnll strategy. We will also work the other Age UK groups and any other patthus across Cumbria share ourambilion. As we develop our annual tMLSill¢S5 plan5 )ch ou¢ deliver owstrategy. will: . Gather and use evid¢n¢e - Involve older proplc - Respond to th¢ particular challenges of dispersed afftl nwal ccrtnm1ticS in South Lakeland Develop pamerships and the for 5tr0n8 CollalatIOn within the third secior and with 5tstutory or8ani5ations - Seek to enswe thai ow iDPUt Coptributes to lasting inwroyements f(t individuals and their ¢ommvniti¢s W¢ have adopted a of values vthich should b¢ evid¢nl to oldcr peopl4 our our VolunerS and our parlnets in all as15 of Try art to: - Be re5PeCt6Jl - Be inclusive - Be positive Bc reali&i¢ . Be cMpo[]ng - Make a difference in people's lives. FuRdrni5u¥¥ thclosmres Age UK South lakeland follows the Age UK Fwmlraisirg Charter thich has been deve1wl with our domrs and older people in mtnd aTKI does not use professional fuThJrdisers or involve cornnl¢ll1 parti¢ipator& Th¢r¢ have been no complaints about fimdraising aclivity this ye•r. Further det8i]s can be found at hitP5Jlwww.ageAth.org.uklget.involve4Vfundrni5eJfithising<harterl. bli¢ bemefv Th¢ Chariry w0S with lo¢al older rryle to Ip them rdain their IThkpertdee and exucise real choice in their live& We aim to do this by". - delivering services thai help to th¢ of old¢r pwple and fit with the othcr ILKal service5 in the communities in which they livc- - informin8 and advising older people of their ri8hts and opti - advo¢ating for and on behalf of older people on issues which rnaLt¢r them as indivhduals or eommuniii Consistently znd constsntly to ensurc wc fully uThlwstand their ed& The tnLgiee8 ¢onfJrni that hav¢ ¢omplied with the rwuirefflents ofsection 17 of the Charities A¢¢ 2011 to have due regard to the public knefit gUidae p)blished by the Clwity CornrtUS5ion for England and Wales.
Age UK South L2keland Ltd known as Age UK South Lakeland Trnstses, Report AchIements performD¢¢ The operational and finan¢ial planning for the yeAr April 2023 to March 2024 was very positive. We eontinucd to work towards some fom of normality after the world recovcred from the ongoing effects of th¢ COVID 19 pandemic. The continuation of the war in Ukraine has still had an impact on the world economy. Issues such as htgh energy prices still affected those t•tho are most vulnerable in our society. During this fLnan¢ial year, we have conunued io build on our re-introdvction of ow social cngasellnt prOgranu¢S. Dcspiie thr pandcmic now king sorne tiTne bchind us rethestablishing rnaDy of th¢ clubs and activities has continuod to be a chAllenge. Notwithstanding this, there h&5 bccn an anwing response io these )cial et)gagemen¢ opportunities rcopcning. the pro8r8m goes from str¢ngth to strength. Every weck there are over Thventy different exercT5e related events happening across South Lakeland. Our Lunch club5 or¢ also nearly back to fvll strength with twenty-five back up and rnnning every month. Oyr ¢li¢nt service5 team have ntinued to support the older people of South Lakeland. The team delivered 3.120 resp¢)nse5 to requests for inforniation and 2.206 cli¢nts were support¢d to completion for casework. Unrestri¢ted revcnue 8enerdtion com¢s mostly from our retailing aciivities. In this financial year we achicvcd a record 5a1¢5 l¢v¢l of £1.528,180 across our retsil estatc and online operations. This ¢onKs after a significant program of restnJcDJrirtg following a change in the leadership of ¢h¢ r¢tailinE division. From that signifi¢8nt sale5 level. when all direct operational ¢osts of the retsilinE divasion are dedu¢t¢d. that left a surplus contribution to the charity's overheads and operationol costs of £466.738, thi5 equates to an above averdge ¢ontribution of 30.54°A. The rethiling division h&s been ehallen8ed by Tapid increases in the cost of employmenl locally. This is beca¢ there h&5 been a proliferation of charity shops opening in the area offering higher salaries than has been th¢ estsblished norni. As part of th¢ir progrdm of restructuring the new rethil management amended the retail pay scales to better reflect the eurrent local market trends. Grants andlor COntrts prowde a source of restricted income for the ¢harity, however there is a n¢¢d to ensure that any grant or contract does noi divert the charity from its agreed strategic plan. We also need to remain awdrt of th¢ PDkntial fDr contracts in pffiÈculaY tD develop rmwl&l dependency ort the contrdctin8 organisaiion, and thus chan8in8 the ov¢rdll foc% of the charity. Cuffently the chariry does not ¢ngage in any contract or subcontract work. We also concentrate our grant application efforts on those gyanl providers who offer grants for projects or workstreaTh5 proposed by the prospective 8rantee. The SMT Continue to review all contraci and grant oppor)JnitlC5, all 8rydnt applications are completed internally. In ihis flnancial year the tgam completed twclvc Trt applicatio to various potential funder& We were suce¢s5ful in securing six grants with a total value to the Charity of £103.309. This equates to a success rnte of 50% against a naiional average suece& of approxima]Y 16%. Thes¢ su¢¢¢&sful grants were in addition lo grant ndIng that we enjoyed from the pr¢viou5 year's awards, that rolled In 2023124. As the year prowsed li became increasingly difficult to identify appropriat¢ grant opportunilies for the tharity. Page 4
Age UK South Lakelydnd Ltd known as Age UK South L2keland Trustees, Report Flnanclal rthtw Poli¢y on r¢s¢rv The Tntstee5 mairttain reserves. whieh are Charity fund$ to be realised at short notice if required. Should the funds fall below the ayeed level. immediate ep$ would be taken to reinstate them by cutting project expendittwe. Properry values are noi thken into account in calcularing these reserves. The Tte¢S rcvi¢w the re5erv¢s on an annual basis. and for the year 2023r24 ¢onsidefed £400,000 to be a reasonable holding. reviewing the level for the year 2023124 ihe Trustees accounted for the following.. - Norn?al day io day fluctuations in workin8 Capital and c4$11 flow. Three months of salary and renMI obligations based on the 2023124 budge( were considered en appropriaie amounl. - Possible tmerycncie& Such as c110 of trdding at onc ofthc rctail units for thc salc of donatcd goods or thc loss of thre¢ months, s21es for the Kendal Furniture Warehouse. As at 31 Mah 2024 th¢ ¢harity as 8 group held funds totslling £1.376.925 of which £428,118 wa$ hold rangible and inthngible a&8ets and £100.451 was the planned investment in services for 2024125. This left £848,356 of whÉch £76.749 reprc5cntcd rcstrictcd fund& and £400,000 the corc holding so that free rrVeS had increased in ihe year from £152,049 to £371.607. This is in line wilh the ¢h8Titys obj¢¢tiv¢ of providing s¢rvi¢es while rnaintaining sufficient reseryes. Prf•¢lpalfundlftRso4rces Th¢'charity'obtains fiThdinB foT its chaTitable adivitteB frorn a rdnEe Df BTrnt fiJ)JdeTS 1Cludin¥ the Bi¥ i and Age UK. It also aitTh8 to improve fijnding from its range of charity shops and online sales to support our work of improving the lives of th¢ old¢r people of our district. Investsnentpollcy*ndobJ¢dives ATAMOS Private Invcstrnents rnanage the organisation's investment portfolio on behalf of the TTvsiees. The Tnlee5 r¢vi¢w inv¢stm¢nt perfornian¢¢ ¢very six TnontlLs and r¢¢¢iv¢ reports from the investrnent company every quarter. The Trustrcs consider that the guiding principle of the agrEed investment policy is to generate ds for ihe Chviry. but that they will not invest in a particular business in circumstances where such itwestment mi8ht hamper the work of A8c UK South L4kcland by alienatin8 actual or potential financial support¢r& CBILS loan m4DagemeDt During the year the TNstees and Senior Management Team reviewed the on8OLn8 costs of 5crvicittg the CBILS loan and took thc decision w r¢pay th¢ loan in full. This has saved lh¢ Charity a significant amount of int¢rcst r¢payment Charges. O¥edlv¢s 4ndpoUel¢s The Group's a¢tivities expose it lo a nUrnr of flnancial risks includin¥ credil risk, flow risk and liquidity risk. The Charity does not use derivative financial instnunents. Page 5
Age UK South Lakeland Ltd known 2s Age UK South Lakeland Trustees, Report Cashflow risk The Group's activities expose it primarily to the financial risks of ¢hange5 in economic conditions, fimding availability and inve5im¢nt iTEcom¢ rdtes. Credll rfsk Th¢ Group's prin¢ipal financial assets are bank balances and cash. trnde and other r¢¢¢ivable& and investments. Where ony risk relatts to trade receivables an allowance for impairnwnt is made. The crcdit rL5k on liquid funds 15 limited be¢ause the ¢ounterp8rties are banks with hi8h ¢redit•rntings aSSied by international credit-rnting aBencics. The Group h&s no significant concentration of credi¢ risk, with exposure 5prcad over a large number of counterparties and customers. Liquidity rlsk In order to maintain liquidity to enswe that sutTi¢ient funds are Available for i)n8oin8 operatiOTL8 and developments, Ihc Group uses a mixDJre of long-temi and shon-tem irtvestment& Further delIS rcgarding liquidity risk can be found in the statenI of x¢ounring policies in the finaTrcial 51atements. S(rn¢tsr& govern4n¢e vénd nnagement olgoverning documenl The charity i$ a wmpany limit¢d by guardnl¢¢. Th¢ ¢ompany took ovcr the assels ofthe charity known as Age UK South Lak¢land (chariiy nw)th¢r 508390) on l April 2011 and is now re¥isiercd as Charity nun]b¢r 1141415. A&¢ UK South LakelaDd is an ind¢p¢nd¢ni charily r¢gRslercd with the ChArity CO15s1on and 8overncd by group of tnLSt¢¢s who have b¢¢n ¢l¢ctcd by the membership of the charity. The Charity h85 been operating lo¢lly sinee April 1978. R¢cruilmenl andappwntmenl olirnllees The Chair is electrd for thrtc years aTrJ shall not serve more than thrc¢ wnsecutive temLs of office. In accordance with the governing document the Tr51CC& can ciH)pt up to on¢ third of their number during the cours¢ of ihe reporting persod. Covopied tnre£S must be rerflected at the folloThin8 AGM. One ihiTd of the board retires by rotstion at each AGM and is eligible for re¢lection at that AGM. Only one Trust¢e has s¢rv¢d for longer than nine years. Thi$ appointtneni has been reviewed and it is felt thai Ihe value in ternis of knowledge of the organisation and understandin8 of b¢neficiaries far outiveighs any possible risks. Indmclion ond oftrMJle¢s All new TrnteeS are offered the opporwnity to mttt with key staff in the OrnIsatiOn, and are given copies of Board of Trttte$, minutes and pupers for the past six ttnths. the m05t recen¢ Tnle¢s, Ann(Ml Rcport and Accounts. a copy of the Constitution and CC3 - Thc Essential Tn1cC (Charity Commission). The Board of Tru5R¢s adopd ¢he Charity Governance Code aThJ usc it to review Board performan¢¢ and identify training ed$. Pa8e 6
Age UK South IAkeland Ltd known a8 Age UK South Lakelgnd Trnstees, Report ArrnMg¢M¢ntsfors¢thHg ¢y In December 2017 a benchmarkin8 cxer¢ise was unduth by extem81 co¢wJltsnts set the lary levels for the senior managYn%nt team. The intention is to repeat this IhMarkIng exercise on a rtgular basis. The charity and its 5ub5idiaries are mamged on A bmsis by the Senior Management Team who r¢pon artd meei with the Board of Tnjstres on a nwnthly b1 Oversighi of the budg¢tinB and moniti)ring of managemeni accounts is condu¢d by the Chir of Tnutee5 ort a nnthlY btsi& She liatses with the auditors to produce the year end sthtuiory aceounts. The B04rd of T1¢¢$ is restIble for thc m#na8enKni of risks faced by the Charity. There is 8 fom7al annual rcview, bui risks id¢ntifi¢d a65¢S5ed. eThllmls e4abl1s1d throu¥hl the year. Key ¢ontrols during 2023f24 have in¢11¢d.. . FornMI agetykn for Ail comnuttee and B(rd adivity. - Cornpr¢hcnsiv¢ 5tr¥le8i¢ pl8nnin& bud8etin8 and maM8etw4 accoun& - Esublished org8ni5ationil structyres and lir ofrewiin - Cletr authori110n and approval levels. - Procedures as required by low for the prottction of wlner#ble adtslL% and ehildren. The Board of Tntsw is saiisfied thai major risks been identified and measur¢$ 4r¢ tn pl8¢¢ to ertsure thai Ih¢y •T¢ ad¢quat¢ly miti8ated whert necessary. Relatlomhlw wlth related rt5 Age UK Thc charity is i br pann¢r with the nAtion81 charity A UK and is part of• Ofllre than 125 brond p4rlnets a¢ross land and I] b¢d in Waks, Nortlm IrelaThl •NI Scodarml. As a brand panner with A8e UK the truses hav¢ 4ced io deliver a local infomation and advice scrvic¢ Working with old¢r p¢opl¢. Thi5 15 part o(a widtt ran8e of infommtion, advice aThl wathicgl services. Age UK Soutb IAktlnd Trdlts8 CIC Age UK South Lak¢latKI Trading CIC The cbity set up a wknlly QWDcd subsidiary to take over and develop the small amouni of uading d(w in new gr$. The subsidiary sthrd trading on l January 2017 and ttased tr8din8 by 31 Marth 2023. It stsuck off ¢M JO Awil 2024. Ch4rltek CIC Chorilek CIC was sei up a5 another tradin8 Subsid1 M l Novonber 2019. This had not sLar*d trIn¥ 31 March 2024. This remlins nOTh&tradind0rnI&n1. Page 7
Age UK South Lakeland Ltd known as Age UK South Lakeland Trustees, Report StatemeTht of tn15tees' responslbllldes Thc trstee5 (who are also the dIlOrS of Age UK South Lakeikrtd Ltd for th¢ purposes of company law) are Tesponsiblc for preparing the trustees, rcport and the financial 5tatcrnents in /¢cordan¢e with applicable law and Uniced Kingdom Accounting Standards (United Kingdom Gen¢rally Accepted Accountin8 Practicek including FRS 102'The Finawial R¢poning Standard applicable in the UK and Republic of Ireland.. Company law requires th¢ tru5tc¢$ to prcpar¢ financial stat¢ments for each flnancsal y¢ar. Und¢r compatty law thc trustees must not approve the finaneial stateTnents unless they are satisfied that they give a trne and fair view of thc statc of affairs of the PaTent Charithble company and the wup and of the incoming resources and applicaiion of resourcas. includkng its incotnc and cxpenditur4 of the charitsble group for that period. In preparing Ihese finaneia151at¢rnents, the ttlte¢S are required to.. selecl suitable *ecowititig policies and apply them consistendy: obsery¢ ihc methods and principles in the Charities SORP: muke judgemcnts and estimat¢s that are reasonabl¢ and pnert( stste whether applicable accounting 5t2ndards, comprising FRS 102 have been follow¢d. subject to any material departures dis¢los¢d and explained in the fiDan¢ial ststemeThts- aThJ prqjarc thc financial statements on the going conc basis unle&s it is inwr(yiate to presume that the parent charitable coTs]pany will continue in busin5. The tThst¢es are responsible for keepin¥ proper accoun(ing records that ¢an dEI05e with reasonable aecurdcy at any IiTne the financial posiÈion of th¢ parent ¢haritsbl¢ company and the group and enablo thcm to ¢nsure thai th¢ finan¢i81 st8iem¢tits Comply wilh ihe CoEnpanic5 Aci 2006. are also responsible for safeguarding the assers of the parenl charithble ¢omp#ny and the group and hence for tsking reasonable 5teP5 for thc prevention and detection of fraud and other irregularities. Th¢ "trusli%s ar¥ r¢spvnsli li fiTrr 'th¢ rnaEni¢naiK. atia iT2"1¥y. of th¥. i{)rporaié arla ritldnLial Lnfortnafioti includcd on the charitable ¢0mpaThs website. Legislation governing the prepardtion and diss¢mination or financial statements nmy differ from IrgL51ation in other jurisdictions. Di5¢10sure of infoTnutton to avdltor Ea¢h trust¢¢ has taken steps that thcy oughi to have as a trSe in ord¢r to make themselves avmre of any relevant audil infornjation 8t to establish that the Charit$ audttor is aware of that inf0mlIon. The trwt¢es confinn tha( there is no levant infomwtion thai know of and of which they know the audilor is uDaware. The atmual wjon was approved by the tntstees of the clwiry on 31 July 2024 and signed on its bdlf by.. CMTwst Chair and trustee Pa8e 8
Age UK South LAkelAnd Ltd known as Age UK South Lakeland Tndependent Audltor'5 Report to the Members of Age UK South Lakeland Ltd Oplnlo We have audited the financial statcmertts of Age UK Sou(h Lakclartd Lid (the '¢harithblc parent Compan And its subsidiaries {Ih¢ 'group) for th¢ year end 31 Mh 2024, which cornprisc lh¢ coTOI1d31 Statement of Finyncial Activities. Consolidated Balance Sheet. Balance Sheet, Consolidated Staiemeni of Cash Flows and Notes io ihe Financial Staiements, in¢ludin8 a summary of significgnt accounting tmilicies. The financial reporting framework that has been ipplied in their preparation is United Kingdorn Accounting S¢and4Tds. c¢)mprisin8 Chariti&s SORP- FRS 102 The Financial Reportin8 Siandard applicable in the UK and Republic of Ircland. and applicable liw (United Kingdom G¢nerally Aepted Ac¢ounLing ptICe). In our opinion lh¢ financial slat¢m¢nts'. give * tr &nd fair view of the sta of the 8roup's and pareni chariiy's alTairs as at 31 March 2024 4nd of ils incoming resourc¢5 and applicalion of r¢sourc¢$, including its incomc and cxpcndi¢ure. for th¢ y¢8r th¢n ¢nd¢d: have been properly pPred in ac¢ordAnLe with United Kingdom Gcnerlllly Accepted Accounlin¥ Praclice: and hpv¢ b¢¢n prered in Jc¢ordJn¢¢ wilh the requir¢ments ofihe Comprties Aci 2006. Bisli for oplnloTr We conducied our 4udil in u¢cord4ncc with International S14nd4rds on Audi¢in8 (UK) (ISAI IUK)) And applic&ble law. Our responsibilities under ihosc standords are fvrther describcd in dic Audir responsibilities for the audit of the finTrn¢inl s¢Df¢m¢nts s¢ction of our report. Wc are indcpendent of dic Broup in accordance with th¢ ethieal r¢quirements thot arc relevant lo our audit of th¢ financial siatemenis in the UK. including the FRC. Eihical Standard, and we have lfilled our other ¢thic&l r¢$poTrsibilitle8 in a¢¢ordon¢¢ wth th¢se requirements. We believe thai the audii cvidence we have obtaind is sufficieni and appropria to PTovide o basis for our C•nc1uilts relillng to golmg coneern In auditing ihe finan¢kal statements, we hyv¢ coneluded ihat the trusieei use of the 8oing concern basis of accounting in the weparation of the financial 5tatefflenta i$ ipproprial¢. Bosed on the work we hav¢ pcrfomwd. wc havc not id¢ntifi¢d any m&tLYi41 un¢crtain1i¢5 r¢lu¢ing to ¢vcnt$ or conditions thal individually or collcclively, may cost significant doubt on thc group's Ability io continue a5 a going concern for a period of at least twelve llK)nths from when the original finafteial stitemertts were authorised for tlle. Our responsibilities and the responsibiliiies of the tNStecs r¢sp¢¢l to going concern ore dcscribed in the r¢l¢v8nt 8¢¢tion5 of this rcport. Other InformAtlon The tn1¢¢¥ are r¢sponsibl¢ for th¢ other information. Thc other infortTMlion compriscs the inforn)itiotJ included in the annual rcport. othcr than th¢ fiDan¢io15tatemcnts atKI our auditor'5 rert thereon. Our opinion on the rthancial statements dDes Iiot cover the other infornjation and, cx¢cpt to thc ext¢nt otherwise ¢xpli¢itly $tatcd in oyr rcport. w¢ do not cxprc&s any forn of assuran¢c concl10n thcreort. P88e 9
Age UK South Lakeland Lld known Yds Age UK South Lakeland Independent Auditor's Report to the Members of Age UK South Lakeland Ltd conneelion with our at]dit of the financial statements. our responsibili¢y is to rcad the other infornwlion and, in doing so. consider whether thc otbcr infOrntioll is materially in¢oDsistent with the finan¢ial statements or our knowledge obtained in the audit orotherwise appears to t¢ materially misstatcd. If we identify such material inconsisiellcies or 4w8rent [Dater1 mlsstatettts. we are requir¢d to detem)ine whether there is a material misstat¢m¢nt ID th¢ financial ststements or a m&terial misstatement of the other infomution. If, bas on the Work we have perforn)ed, we conclude that there is a Merial misstatement of this other infornJatior4 we ar¢ iequircd to report that fact. We have nothing to report in this r¢g•rd. Oplnloth OD Other lltter prescribed by the Companies Act 2006 In our opinion. based om ihe work undertaken ID the course of the audit.. th¢ inforniation given in the Tnjstees, Report for the financial year for which th¢ financial stAtements are prepared is eonsistent with th¢ financial 3tat¢m¢nts' and the Tn]stees' Report has been preped in accordance with applicabl¢ legal requirements. Matters on whkkn we Ire req•ired to repDrt by exceptlon In the light of our knowledge aThJ understandin8 of the group and the ¢harÉtable company and its environm¢nt obtsin¢d in th¢ wurs¢ of th¢ audil we h¥4v¢ no¢ identified m&terial misstatements in the Tnle¢s, ReporL We ha nothing to report in respect of the following rnattcrs where the Companies Act 20[ reqUIS us to report to you if. in our opinion.. adequate accounting records have not been kqjt by the parent ¢haritsble company. or r¢turns ad¢quate for ouraudit h&ve not been received from branches nol Visited by us: or the patent charitsble CoMpY fmancial Stements are not in agreement with the accounting rttords and rewrns. or certain di10SreS of ttvstees remuneration specified by law are not madtr, or we have not reeesved all the infornution and explanations wo require for our audit. Responslblmtks oftnr5tees As ¢xplain¢d nwT¢ fully in th¢ Ststement of trustees, re5POOStbilities (set out on page 8), the tswstres are responsible for the preparation of the fmancial statcments and for being satisfied that they give a true and fair view, and for such internal control as the tntstees detern]ine is necessary io enabl¢ th¢ Prepotation of ftswicial ststements that are free from nMt¢ri81 misstat¢m¢Dt. whether du¢ to frnud orerror. In preparing the financial staiements. the trusiees are responsible for &ssessing the charity's ability to continue as going concern, disclosing. applicable. matters related to going concern and using the 80ing ¢onc¢m basis of accounting unless the ttwtees either intend to liquidate th¢ charity or to Ce opcrations. or have no re81i5tic alternative but w do so. Page 10
Age UK South Lakeland Ltd known as Age UK South IAk¢12nd Independent Auditor's Report to the Members of Age UK South Lakeland Ltd Audltor respollsiblmtles for the audlt Df the Il•anthl stateDTr Our objcctiv&s are io obtsin re&sonabl¢ assuranc¢ aboui Tthther the fmwKial statem¢n as a wthole arc frec from rnat¢rial rnisslateThnL whdkn to fraud or error. and issue am auditor's report ihat ilUdeS our opinion. Rewnable a5surwe is 8 high level of ¥&%uwance. is rwjt a 8uarantee that an audit conducted in accordance wtth ISAS {UK) will always dettti a material misswtemmt kn it extsts. Misstatements can arise from fraud or error and are considered ma11 if. individually or in the aggregate. they could reasonably b¢ exFK¢t¢d to influ¢¢ the economic decisions of users taken on thc basis of the5c finaKial sthtements. The extent lo which our proredw¢s are eapble of delting irreguigritie& IludIng fraud is dethiled belov. W¢ IdeIr1ed are&s of law5 and re8ulatiotts that could ieasonably be expecd to have a marial effect on the flltancial s¢aiements from our experience from di8awions with nwwg¢m¢nl. W¢ reviewed any retated Orre1en records of trustee JDcetiDgs w assess uM)pliance with IM and regu12ti0rs and discu&sed cwrent p)siiion with nwa8erncnL Wc the alIt team were alcrt for any indicatiOThS of Twjn-coryliance thTvugIut the Budil work W¢ 8&%S5ed the clwity's polici&% on frIJ risks. No insrances of a¢tyal. suspect¢d or alleged frnud wwe ideniified by us orthe charity in the year. Be¢ of th¢ inlwen¢ IiTniWion5 of an audi( there is a risk that VK will deieet all irreBularitie& including thL)se leading to a marial mi&8thiement ill the financial sthments or non-compliance with regulation. Thts risk inueases the moTe that compliancc with a law OT regulation is reThJved from the events aNJ tr8nsaciions reflee¢ed in the financial sratements, as we wÉll be likety ro be¢onK aware of instances of non-cornpliance. The risk is also 8reater re8arding irregularities occuNinB due to frdtyj rdther than ermr. as fraud involves intentional ¢onc¢almen( forgery. ¢ollustofy ornission or mt5rqKesentation. Use repDrl This report is made 501ely to the charithble paMt cornpatWs trustees, as a b(Mty, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our a11 Work ha5 ten u[ertaken so that WC rni8ht srate to the group's tsvstees those matters wc ar¢ r¢quired to state to them in an atsditor's rerrfjrt aTMi for no otkn rpOse. To the Ilest exnt permitted by law. we do not accepi or assume resp(sI111ty to anyon¢ other than th¢ ¢haritabl¢ parcni company aml its In as a b(y, for our audit for this T¢Tl or for th¢ opinions we have Helen Holmes Bsc FCA (Senior Sthttllory Audiior) For and on behalf of Stablcs Thown & Brtscoe. Ststuiory Auditor Lowdr Howe Lothr Str¢¢t Kertdal Cumbria LA9 4DX 5 August 2024 Pa8ell
Age UK South Lakeland Ltd known 4s Age UK South Lakeland Consolidv4ted StYdt¢m¢nt of Flnanelal Actlvltles for the Year Ended 31 March 2024 (Including Conwlldated Ineome and Expendlthre Account and Statement of Total Recognised Galns and Losses) UDrestricted funds Restrkted Dds Total 2024 Note Ineome Endowments from: Donations and legacies Charithble activities Other trading activiiies Investment income 52,677 10,000 1.528.180 11,697 52,677 432,896 ,528.180 11.697 422,896 Total income 1.602,554 422.896 2,025,450 EXpelture OD: Raisitjg funds Charitabl¢ a¢tivili¢s {1,067,306) (513,791) (1,067,306) 1885.623) 371.832) T0181 expenditure Gainsllossc5 on inv¢stm¢ni assets (1.581,097) 37,965 (371.832) (1.952,929) 37,965 Net income 59,422 SI,(4 110.486 Net movement in fimds 59,422 51,(164 110.486 RecoD¢lllatlon of funds Total fijnds brou8ht forw¥rd Tothl fidS earried ftitmwd 1.240.754 25.685 1.266.439 25 1.300.176 76.749 1,376,925 The noics on pa8¢5 17 10 44 forn? an inle8ral p8rt of these rmwla] stal¢ments. Page 12
Age UK South iAkeland Ltd known as Age UK South Lakeland Consolldated Statement of Flnantial Adivlties for the Year Ended 31 March 2024 (Includlng Consolldated Income ind Exp¢Ddlthre Account and Statement ofTotsl Recognlsed Glns and isses) Unresirld¢d R¢strlct fund Tot1 2023 Note lrteothe EndowmKnti from: Donations and le7t1 Charithble tiVitieS Oih¢r tr]ng activities Investmeni incoft 60,649 57.800 1.372.095 5J29 60,649 438,055 1,372,095 5,329 380255 Tothl income 1.495.873 380255 1.876.128 Exptndlture on: Rii$inB Charithble livItieS 11.077.530) {550,6931 (1.077.530) (927,675 (376.982) Tothl expenditure Gain105¢5 on inYesim#ii 11,628.223) 34.342 (376.982> (1005,2051 34,342 Net (¢xpenditweyincorn¢ 166.692 163.419 Net movement in funds {166,692) 3273 1163.4191 R¢¢on¢lil#tloD Of Tothl fvnds brought fortrd Tothl funds fAfTi¢d forh•rd 1.407.446 22.412 1.429.858 25 1.240.754 1.266 439 All of ihe group's aclivilies derive fmm contimiing ¢pernt1 during I1 8bov¢ tsvo p¢riod& The funds breakdowj for 2023 is shown in Th)te 25. The notes on p48¢5 17 to 44 forni inte1 part of fuwKial Pagt 13
Age UK South Lakeland Ltd known as Age UK South Lakeland (Registration number: 07540805) CoDsolld2ted Balance Sheet as at 31 March 2024 2024 2023 Note Fixd 455ets IntsngEble assets Tangible ets Invesimenls 15 16 107,202 441.597 554,004 428,118 597.825 1,025,943 1,102.803 Current ¥ss¢ts Stocks Debtor8 Cosh ai bank and in hand 18 19 20 23,684 78.477 357.727 32,275 63.243 381.610 459.888 477.128 Creditors: AmouDt$ f8lllDg due wlthlD year 21 1108,906) (207.431 Net ¢urrent 455¢ts 350.982 269.697 TO¢ Assets less current li#bilitles 1.376.925 1,372,500 Creditors: Amouttt$ f#MiDg due after Jnore than one yeaT Ne¢ assets 22 (106,061) ,376.925 1.266,439 FuDd5 Df the group: Restrict iD¢ome funds Restricted fiu)ds 76.749 25,685 Unrestrlcted Income funds UDr¢stri¢t¢d .300,176 1.240.754 Total funds 25 .376.925 1266,439 The fman¢ial sla(cments on pa8es 12 44 were approved by the Intsiees. and authori5¢d for i&su¢ on 31 July 2024 8nd signed on th¢ir behalf by.. CMTwst Chair and trllstr The noies on pages 17 44 forni ort integrnl part of ihes¢ fuwicial sth*ment& Page 14
Age UK South Lakeland Ltd IOn as Age UK South Lakeland IRegi5tration number: 07540805) Balance Sheet as at 31 March 2024 21124 2023 Note Flx¢d &sS¢tS Inrangible assets Tangible ets Investments 15 16 107202 441597 554,004 428,118 597.825 1.025.943 1.102.803 Current assets Sto¢ks Debtors Cash &t bank and in hTKI 23,684 79,982 357,678 19 20 132,798 351J39 461 J44 484.137 Credltors: Amounts f811ing duc withth on¢ year 21 1108,3561 (213223 Net ¢yrr¢nt a$ts 352,988 270.914 Totsl Asstts l¢M tutrnit Ilbllltl 1.378.931 1,373.717 (106.061) 1.267,656 Credltors: Amount5 f8lllng due after more than one year 22 N¢t wsets 1,378.931 Funds of the ¢hrity: Restricted in¢on funds Restricted thnds 76,749 25.685 UDrestrl¢¢¢d In¢ome funds Uthrestrieted ffijnds 1.302.182 1.241.971 Total ftynds 25 1.378931 1.267.656 The financiAI statements on pages 12 44 were approved by ihe tnstees, and authoriscd for ISS on 31 July 2024 and sÈgDed OD their behalf by.. C M Twist Chair and trustee The notes on page5 17 to 44 fomi an intewal part of these fllwlcial staiemenls. Pa8e 15
Age UK South Lakeland Ltd knoivn 95 Age UK South Lakeland Con5011dated Statement of Cish Flows for the Year Ended 31 Mar¢h 2024 2024 2023 Note Caih llows from operatlng actlvld N¢¢ cash in¢om&lexpenditurel 110,486 {163.419) Adjustments to eash flows from non418h Iten DepreeiAlion Amortisation Investment in¢om¢ RevaluAtion of InveMen Impa)rnni loss on disposal of fixed ass¢ts held for the group's own we 40,483 14.217 111,697) (37.963) 36.401 14.217 15.329) 34,342 92,985 208.511 183.788) WorklD8 ¢apltwl odjuitmen Decre&% in slocks (Increde¢re8S¢ in deb1$ (DecreaseYincre&se in creditors Incre8s¢1(d¢¢r¢a5¢1 in d¢fcTr¢d incon Net ush flo from opemting activities CAih flowi fr•m Imvestlng attlvltl In¢er¢51 re¢¢ivabl¢ and similar income Purchase ofintan8ible fixed asseLS Purc$¢ of t8ngibl¢ fixed asscts Purchose of investments SAI¢ ofinvestmen 18 19 21 22 8,591 (15,234) 168,788) 15,717 37.802 23.220 68.985 27,925) 148,797 18.294 11,697 5.329 122,720) 137,199) (1,406.187) 1.404,520 15 16 (27.005) 1540,170) 534.313 Nei ¢#sh flows from invesiing tiVitieS 121,165) 156.257) Caih IIov41 from flTranelng ietlvltlei R¢panent of loans atul borniwin8S Nei decrease in CAsh and Cash equiYal¢nts Cash and cash cquivalcrtts l April Cash and cash cquivalertts at 31 March 21 151.515 45,454 (23.883) 381,610 183.417) 465.027 357.727 381,610 All of the cash flows are derived from contirtuing operations during the above Iwo perio The notes on pa8es 17 44 fonn sn inte} part of these financial Ststrments. Page 16
Age UK South iAkeland Ltd known gs Age UK South Lakeland Notes to the Flngncial Statements for the Year Ended 31 March 2024 I Charfty stltus The charity is limiied by guaranlee. IncoTwn in En8111. 3nd COWU¢Dtly d0¢5 hav¢ 51we caPEI. Eacli of the ¢nJses is liable Contribu an •ny)uoi not cAeding £1 Thv•rds the of the tharity in th¢ ¢v¢nt or liquid8tion. The address ofits reytted orrC i 17 Finkl¢ Str¢¢t Kendal Ctsmbria LA9 4AB Theje financial 8ments were authori5ed f(f ISA by trusN on 31 July 2024. 2 A¢¢outsdni poll¢l Summary of ilgnln¢ant •¢countln% polklu 44d key ¢couo¢lTr8 ethm•¢ The principal accountin8 p)lici¢s appli¢d in the preparation of th¢ financial ststen%nts are sc¢ ou¢ below. These policiu hve been eonsistcntly applied th all yews wesentrd. unless othetmise srAied. StateTheDt or£0p11•¢C The tharity tonsiibjtes # publi¢ b¢rt¢fii Olty as defin¢d by FRS 102. Tr fin¢1 have b¢e prepared in accordance with Accoun¢in8 R¢wJrting by Ch8ri1i¢s.' Sthiement of Recommended Pra¢¢ic appli¢4ble 10 thirilies prq)Arin8 iheif aeeotsnts in e0rdance wilh the Financial Reporting Standard applicable in th¢ UK and R¢publi¢ of Ireland isw¢d in l)ethber 2019. the FinarKial Rcportin8 Sthndard Applicable in the Uniied Kingdom and Republic ofirelaTrJ (FRS 102k the awri11 Aci 2011. the CryEpnies Art 2006 and UK Generally Acceplcd AccoLthiing Praclice. Buls of prepAfAth)n A8e UK South LakelaThJ Ltd meets the definiuon ora public bcnefil entity under FRS 102. Assets and liabililies are initially recols¢d Bt historic41 cosl or transaction valu¢ unlw othmvis¢ Sl¢d in the rel¢vant ccouniin¥ policy noles. The firn¢la1 staiements are prepa in swling vthieh i& the ¢wrw ofthe chwity •TrJ )und to the ne&tt £. Bzi15 of ¢oTrwlldtlo The consolidated fithancial sthkments consolithte financial of the chrity and its subsidiary undertakin85 drdwn w> to 31 March 2024. No athment of financial adi11t& is praed for the chvity Is pennitted by c(ion 408 of the Companies Aci 2006. Th¢ ¢harity made a surplus aft¢r tax for the fjnkntial year of£1 11275 {2023- d¢fi¢it of £162 JIO). Pa8e 17
Age UK South Lakeland Ltd known as Age UK South Lakeland Notes to the Financi21 Statements for the Year Ended 31 Mareh 2024 A subsidiary is 8th entity controlled by the ¢harity. Control is 2chieved where ihe charity h25 the power to goyern thc financial gnd op¢r8ting policies of an entity so as io obtsin benefits from its aciiviries. Thc r¢5uits of subsidiaries acquired or disposed of during the y¢ar ¥r¢ included in the statement of financial acriyiiies from the effective date of acquisition or up to the eff¢ciivc dale of disposal. as appropriai¢. Where neeessary, adjustments are made to the fina11 sthtements of subsidiarie5 to brin8 their a0tIng policies into line with those used by the group. Tr puhas¢ mdhod of accounting is ll%cd to account for busine55 colnbinations that resuli in the acqui51tion of subsidiarics by the 8roup. The cost of a busines5 combination is measured as the fair value of the assets give equity ÈnstTUTnents is$u¢d and liabÉlities in¢wred or assumed at the date of exchange, plus ¢osts direcdy attributable to the business ¢ombin*ion. Identifiable assets acquired and liabiliti¢$ and contingeni liabilities assumed in a bu51ne55 cofTthination are rneasured initially at their fair value6 at the acquisition date. Any ¢xc¢ss of the cost of the bu5in¢ss combination over the acquirer's interest in the rtet fair valu¢ of the ideniifiable e liabiliiies and ¢ontin8eni liabiliiies recogntd is recorded as 8oodwll. Inter•compaDy rransaclions. balances and unrealised gains on tranwtion5 between the charity and its subsidiAri&8. wliieh are related parti¢5. are elimin3ted in full. Intra-group losses are also eliminated but may indicate 8n impairnKnt that requires recognition in the consolidatcd financial slatcments. A¢wuniing policies of subsidiaries have been changed where nece&sary to ensure consisi¢n¢y with the policies adopted by the group. Non-controlling Int¢r in the net of consolidated subsidiaries ¢ id¢ntifLed S¢P8rat¢ly from the 0Up'S equity therein. Non•conrrolling interests Co[]st of th¢ amount of those interests at the date of the Original businc5s cornbination and th¢ noTrcontrolling sharebolder's share of ¢hang¢s in equity 5incc th¢ date of the combination. Total comprehensive income is attributcd to nonwcontrolling interests even if this results in the nonthcontrollin8 interests having a deficit balance. GOI8 concertt The tnJstec$ con5idcr that thcrc are no material uncertaintics about the group's ability to continue as a going eoncern nor any signifi¢ant ar¢as of uncenainry that affect the carrying value of as5cts held by the group. Changes in 4¢covnting estlmate Chang¢ in d¢precladon pole The ¢stimat¢d ¢wnomi¢ lif¢ of th¢ capitalised sollware p1atftJm has been extended to 10 ye¥7 ftjllowing the su¢c¢ss ofthe Cornp eHub. Intome ad endowments All incomE is recognised oncc thc cbaTity has ¢ntitlcrnenl to thc in¢om¢. it is probablc th&t the income will be received arml the n0t ofthe incomc receivable can be measured r¢liably. Page 18
Age UK South Lakeland Ltd knojvn 25 Age UK South Lakeland Notes to the Flnydnclal Statements for the Year Ended 31 Mar¢h 2024 Douolions leg4ci¢ DOtionS are reCognis when th¢ ¢harity been notified in WTiting of both the amount aTMI settlemeni date. In the event that a donation is subject to condiiions that rwuire a level of perforniance by ihe charity before the charity is cntitled to thc fvnds. the income is deferred and not recognised until either those conditions are fully met. or the fvifilmeni of those cottditions is wholly within the ¢ontyol of the charity and it is probable ihat th&se conditions will b¢ fvifLll¢d in th¢ r¢porting period. Lega¢y gifts are reeoBnised on a case by c&se bRsis following the 8rAni of probate when thc administratorlexecutor for the estate h&s eommunicated in writing both the amount and settlcmeni datc. In th¢ event that the gift is in th¢ form of an at other than cLsh or A fimnciol asset traded on & reco8nised slock ex¢h&tt8e, re¢o8niiion is subject the volue of th¢ gift being r¢liably m¢4sur4hl¢ wth J dcgree of reasort&ble ¥nd th¢ lill¢ to a$6¢t hgvinB been iransfcrred the chariry. Grants reeelmble Grants 4r¢ wco8nh8¢d when th¢ group hos entiilemcnt to the thnds and ony conditions linked to th¢ grants have been mct. Where pcrfornianc¢ condÉtion$ fjrc aitathcd the granl and are yet to be m¢1. lh¢ in¢om¢ is r¢¢o8rtised as a liability and included on the balancc 5h¢et as deferrcd in¢om¢ bc rcleased. D¢f¢rr¢d iwome wpre$ett¢s ornouftts rec¢ivcd for future periods and is releA%d io incomin¥ resources in the period for which. li has been received. Su¢h income is only de(err¢d wh¢n'. - Th¢ donor sp¢¢ifi IhHI thg rInt or donaLion must only bc used in fuiurc accouiitin8 periods.. or - The donor has impo8d condilions which musi bc m¢t before ili¢ chwily h85 un¢ondilioDal ¢nliLl¢rnenL, ftr¥d Incomin8 resources from lax reclaims are included in the S(aiement of FinAncial ActivilieB At th¢ Sn¢ li aB thc gift io which ihcy rclaic. Expendlturo All expendi¢ur¢ is rccognised on¢¢ iher¢ is & le881 or Construetive obliiaiion ih*t expenditure, li is probable settleinent is required and the Amount can b¢ mca5ur¢d reliably. All costs OTC allwat¢d to th¢ applicable xpenditurc headin8 that Bg8re8alc 5imilllr ¢Dsts lo that category. Wh¢rc costs ¢onnot be directly •ttributed to PaTiÉcular headin thcy havc bEcn allocaicd on a basis consislcnt with thc usc of resources, with central staff cosrs allocated on the basis of time spcnl. and d¢prcciation chJrg¢5 allo¢pt¢d on th¢ portion of the &et'S use. Othcr 5UPPOrt costs are allocated based on the sprcad of staff costs. These are cosis incurred in attracting voluntary incomc, lh¢ man88em¢nt of invthents and those incurred i trading activities that raise funds. Ch4Athbie aclivtsles Charitable expenditure comprises those costs Incyed by th¢ ¢harity in the delivery of its activitieg and service5 for its berteficiaries. It includes both costs thit ¢¥n b¢ allo¢oied dire¢tly to such 8¢tiviti¢s and th¢w ¢osts of #n indircct nature nccu5ary to support them. Pa8¢ 19
Age UK South Lakeland Ltd known as Age UK South LAke12nd Notes to the nanCIal Statements for the Year Ended 31 March 2024 GMniprovlslon5 Provisions for 8Tants are made when the int¢niion (o make a grant has been communicated ¢0 the recipient but there is uncertainty about either ihe timing of the 8rant or ihe arnount of grant payable. Support C05t5 Support Costs include central functions and have been allocated kn activity cost categories on a b&sis wnsis¢eni wilh Éhe use of resources, for ¢xarnpl¢. allocating prop¢rty ¢osts by floor are&s, or per capit4 stsff costs by the time Spent and other costs by their wge. Governanet eosts These in¢lud¢ ihe Costs attributable to the charity's compliaTt with nStItUtIOnal and stath¢ory r¢quirem¢n including audit. sirate8ic Tnanagement and tntees, meetings and reimbuTsed expenses. TAXatlo The chirity 1$ considered to pass the iesrs sei oui in Parah I Schedu]¢ 6 of the Fimttce Act 2010 and t1¢fOre it meets the definition of a charitable company for UK ¢orpor8tion tax purposes. Accordingly, the Charity is poterktially exempt from taxation in respect of in¢om¢ or capithl 8ains r¢c¢iv¢d within categories vered by Chapter 3 Part I l of ihc Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. to the exi¢nt that suth income or gains are applied exclusively to ¢hari¢able purpose& lTrl*nglbk Assets 1ntsnb1e assets are stated in the Balance Sheet a¢ Cost le&s aUMUlE4t£d anrtISation and impwimwnt. They are amortised on a $lrdight line basis over their estimatrd usethl lives. Tnble fix¢d ¥$5ets Individual fixed assets coAing £250.00 or more are initially rec¢)rd¢d al ¢osL Amortlsatlo AmDrtisalion L5 provided on intangib5¢ fixed wets so to write off the cos4 less any ¢stinMted residual val over their ¢xp¢¢tcd u5¢fu] ¢wnomi¢ life as follows: Asset elass Softwar¢ platforn Amortlsatlom method and r#te IOtsA straight line DepredatlDn &morti58tlon Deprcciation is provided on tangible fixed assets so as to write off the ¢051 or valuaiion. Ics5 any e5tirnat¢d residual value. over their expecttd useful economic life as ftsllows- Asset flass Land and buildings Leasehold property Fixth, fittings and equipment Motor vehicles Deprecl8tlon method and rate 2Yo straight line Strai8ht linc over the life ofthe lease Over 3- 5 yew3 33% straight linc Page 20
Age UK South iakeland Ltd knoTrn as Age UK Sollth Lakelamd Notes to the Thn#n¢lal StstenDts for the Year Ended 31 March 2024 lry#lrmtht offlxed as#ts Intart8ible aAI tangible fixed are revieThrd for I111 chan8ts in circunL%tsn¢es or events indicate that the caTryin8 value of the fixed assets may not be re¥¢13b1e. An iMlMt loss 1$ recognised wlwr the 0verable amount is Iw than the ca7n8 value. Research and development Development expenditAwe inTed on an iThJividual pyojtsx 15 arricd fwward WITh its firturc recoverability can reasonably b¢ r¢garded &s &ssured. ADY expeTrJiiure carrted forward is auy)rtised in line with the expected tUre income from the related project Ftsed #sset Invtstmettts Fixed assd invesunents, other than PTogramrr¢ relatcd are includ¢d at rnarkct value at thc balaDCC sheet date. Realised gal and on invcsthKnts ale ¢alculaied as thE difference betweEn sales proceed5 and their market value at the 51art of the year, or their subsequent cosL and are charged or crediteAi to the Statemeni of Financial Activiti&% in the peri(Kl of di. Unrealised gains and losses repres¢nt the movement in nwket valu¢s during th¢ year and are credited OT tharged to th¢ Stat¢ment of Activilhes ba1 on the rnakn value at the year en Stock is valued at the lower of Cost and esrimated selling price less ¢osts io Complew and s¢11, afler due regard for obsolete and slow moving stocks. is derniined using the fitsi-in. firsi-oui (FIFO) method. Trade debton Trdde debtors are due from ¢t0 for mer¢1$¢ sold or seryices perfornKd in the Ordinary urse of bwsit1s. Trade debtor5 are rccoBnised ai the tradIon pric& A povision for the impairnient of tr•Je debtors is esrablished when ther¢ ts ¢AJje¢tsv¢ evidence that the chariry will Thjt be able to collt all amunts due according to the original terno of the receivabl¢& C*sh alld ¢8sh oqlllvlilellts Cash and ¢&sh equivalents wnpri5e on hand ITMI call deposits. atMI othtr short-temi highly liquid Invements that are readily convenible to a anVrt of cash and a subjeci to an insignificant risk of change in value. Trade creditors Trade creditors are obligatior to pay for or seTvice5 that have been acquired in the ordinary eour5e of business from suppliers. A¢¢ounts payabl¢ are classified as currwlt liabilities if the chariry does not have an wwondiiional at the end of the retIng to defer settlement of the creditor for at le&st hvclvc months after the rep)rting date. If there 1$ an rndItiol right to defer sertl¢m¢ni for at lew Thvelve nwnths After the rep)rtin8 date, they are Nesenied as lith"lilies. Pa8¢ 21
Age UK South Lakeland Ltd known AS Age UK South Lakeland Notes to the Flnanelal Statements for th¢ Year Ended 31 Mareh 2024 Borrowln8$ Interest-be1nÈ borrowings initially record at fair value. ncl of transaction costs. Intercst-bearing borrowings aT¢ subscquently ca)Tied At amortised cosk with the difference b¢tw¢cn ihe proceeds. nel of transaction costs, and the amouni due on redemption being recogntsed Hs u charge to ihe Stalement of Financial Activities over the peTiod of the rtlevAnt born)wing. Interest expense is recwised on the b15 of th¢ effective irtt¢r¢s1 mthod and is included in Intere payable 4nd similiT charges. Borrowings are classified AS cuffeni liabilities unless the charity has an uncondi¢ional righ¢ to defer settlemcnt of the liability for at1¢os1 tw¢lv¢ months oft¢r ihe r¢p)rtlll8 dat¢. Fund structure Unrestricted income funds are 8eneral funds that Are available for use ai the tnL8t¢¢s' discretion in fiwtherance of the objeciives of ihe 8mUP. Restricted income fimds are those donated for use in o particular or for sp¢¢ifi¢ pur4 the use of which is resirictsd to Lhot area or purpos¢. P¢n$l•mi •hd other 11 r*tlr¢m¢n¢ obll¥atl•ns Th¢ p¢nsion ¢osts ¢h4r8 in th¢ fin4n¢ial 5tat¢men¢S r¢pres¢nt the contribution payable by the charity dyrin8 the yeAr. Classlflerflo Financi&l Assets and financial liabilitie5 are re¢o8nised when (he 8n)up becomes a party to the contrneNal provisions of the irtstNment. Financiol liabilities and equity instrnment8 are clusified accordin8 to th¢ subst•n¢¢ of thc conlractual 8rrang¢mcn15 eniered into. An cquity instrument ij Any ¢ontra¢t that evidences a rcsidual int¢r¢st in ¢h¢ Issets of the group ofter deduciin8 all of its liabilities. Page 22
Age UK South IakelaDd Ltd known as Age UK South L2ke12Dd Notes to the Flnanc5al StatenDts for the Yur Ended 31 March 2024 All financial o&sets and liibiliiies are iniiially measwed at ThaDSa¢iion price (including transaction ¢05¢5), except for th05¢ financial &ssets c1&s5ified &s at fair valuc through profil or lo&s. which are initially mca5urcd at fllir valuc (which i5 TK)rn)ally the tr¢t10th price excIling tra1CtbOn costs), unless the arrangement constitute5 a rinancing transaction. Ir arrdngement ConlIu5 a finathcinE Inn¢0. the financial asset or financial liability is M¢ured al the preseni lue of th¢ future pats di5¢fAmt¢d al a maTk¢t rat¢ of interest for a similv debt instrunL FiTwiciiI a&sets #rtd liabiliiits are only offset in the s¢•temeni of finaKial sItion and only when th¢r¢ exists 8 legally enforctsble ri8ht lo set off the rewised and the 8ro4J intrnds either seNle on a nei basis, or to r¢JliK the assct and 5¢tt1e thc liability simu1thncoly. Financial ve dtteeo8nised Thl onty VAM a) rights to the cash flows from the financial assffl expire or arc sculed bl th¢ youp transf¢ts to another party Substantially all of the risks and r¢wwrd$ of owmcrship of the fLnwKi#l or c) wup. despTte having retained som4 but not all. SilfI¢lt risks and rew8rds ofownership. ha6 tran5fcrrd Conthkl orth¢ ¥55¢1 anotlKr Tty. Financial liBbililiM d¢[C1$¢d only the Obli1 sp¢¢ifKd in th¢ eomtraci is disciwpj. ¢elled or cxpires. Investhjents in nonMIeiblc preference and noTrpuN•ble ordiAQry or prefere¢ shares I¢¢ shArcs ar¢ publicly traded or their fair valuc 15 reliably measurabk) rneaSUTcd 8t (air value throu8h profit or Ios8. Wherc fair vlue e1nrt be MUr liablY. inves$nts ore Measu al wst less impoirn. Invesiments in subsidiaries and 1&1¢$ are al cost less impairment. For Investm in sub5idiari¢s gquired for considerntion Incl18 the issue of shares qUalI.n$ for meryer rtlief. eost is meAsUd by reference to the norninal value of the shaves i5JwI plus fair value of other ¢on5tdwJ¢ion. Any pranium 1$ iOred. Falr vql¥e ixst evidence of fair value is a qtyjted wiee for an idertiul asset in •dive morkeL When quoted prices Are llvaIlable. Ihe price of a rtteni tr8ns4ction for an id¢nli¢¥l ¥55et provides evid¢n¢¢ offair vjlue as lon8 as there h45 not b¢¢n o signifKant chanBe in t¢(0M1¢ ¢iuM$1&ts or a si8nificani lapse of time 5inc¢ the transoction took pl4ce. If the nmrkci is not 4¢tive and reeent tsansaciions of an identical Lsset on their own are not i Bood tlMle of fair 1¢. the fair value is ¢Hirn•t&l by usin8 a valuarion ¢echnique.
Age UK South Lakeland Ltd known as Age UK South Lakeland Notes to the Flnancial Statements for the Year Ended 31 March 2024 3 Inco)ne from donallons and legadei Unre5trlcted nds General Total 2024 Total 2023 Donations and legacies. Donations from IndividlS Lcgaci&% Gift aid reclaimed Gtants. including ¢apitsl ants. Donations from community groups Other inco from donatioDs and le8acics 12.513 19.900 259 12513 19.900 259 16,923 16,118 20,005 20.005 16,993 10.615 52.677 52,677 60.649 4 from ¢hartt4ble actlvltk5 UMr¢stri¢t¢d funds General Restrlcted ds Totsl 2024 Bi8 Lottery R¢contr¢tiag Curnbria Winter Wamtth. CCF wts Building R¢silien¢e Adult Community Mcntal Hulth CCC Public Health Social Engagement Cost of living response fijnd Money Really Matters- Indpendent Age ASDA FodatIOn Eric Wright Tnt EON Warrn Homes Plus Age UK Support Services Agtte# Baekbou5¢ Charitable Trust Bereavement Support Grant 41,891 1110.981J 36,000 73.963 10,000 31063 19,784 400 30,1) 29.815 41.891 IIJO.980 36.0(M) 73.963 10,0 32.063 19.784 30,0(KI 29,815 10.0 15,000 33.0(K) 10.000 15,000 33.000 10,000 422,896 432.896 Utsrestri¢ted funds General Restrlcted Totsl 2023 Big Lottery Rxorniecling Cumbria Winter Wamith- CCF 8rants Buildin8 Resilience Adult Community Mentsl Health 42,331 124,650 21,937 24,925 42,331 124,650 21,937 24,925 Page 24
Age UK South Llkeland Ltd knoivn a$ Age UK Soutb Lakeland Notes to the Flngntigl Ststements for the Year Ended 31 Mareh 2024 UDrtstrieied Totsl 2023 General Poverty Redu¢tion FuThJing Rayne Foundation Eri¢ Wright TnLSt EON HAndyperson Home E4Krgy EON Warm Horncs Pl$ SLDC Emergency FuThl Barrow. TIM)MOW Age UK Support Seryi¢es CwDbria CCF 8rant for redistribution CCF Cwnbna Cuppa Grnnt AeS Backhouse Charitsble Tnjst BereavellKnt Support Grant Gateway Group 30.C(KJ 20.000 30.(XKJ 20.LNYJ 47.500 47.5(Kl 62 15.075 15.075 500 200 lo,0 39.690 958 15,(KJO 15,¢X)O 29.927 21XI 10.c J9.690 958 15.lm 29.927 3(K) 57.81X) 380255 438.055 5 from other tr•dipg ¢livit funds General T•)tsl 2024 Tot1 2023 Trading inco Shop income from sale of dona(ed Boods aThl 1,476,778 48.054 3.348 1.476.778 48,054 3348 1292,074 75,857 4,164 Sales of good8 and services Other tradin8 income 1528,180 1528,180 lJ72,095 6 IDvestment Ioe Totsl 2023 General 21ll4 11.697 11.697 5J29 Page 25
Age UK South Lakeland Ltd known As Age UK South L2kelaDd Notes to the Financial Statements for the Year Ended 31 MArch 2024 7 Expendl¢ure on r¥Jlslng funds a) Costs ofgener&tiDg donxtlons and lega¢leB Unrestrlcted funds Gethernl Tot81 2024 Note Ethical soles trainin8 23 23 b) Costs of tradlng Artlvltles Unre5tritted funds To¢81 2024 TotAI 2023 GeTher*l Note Ret•ll tr8dlDg fosts". Staff costs Costs of goods sold Trading subsidiary wsts Events and conferences Property costs Marketing and publicity Deprrfiaiion. amortisatiott and other similar 634.217 48.069 149 1,080 254.167 355 634,217 48,069 149 1.080 254,167 355 624.030 84.839 134 65 223.237 21633 22,633 18,531 Otherdire¢i costs of activities for geymting fwids Business developm¢nl costs (excluding staft 89,653 89,653 115.377 7.495 1.073,868 1,061.442 1061,442
Age UK South Lakeland Ltd knoivD as Age UK South LakelaDd Notes to the Flnanelal StstemeDts for tke Yur Ended 31 Mareh 2024 ¢) lTrvestmeAt maThwffleut ¢•sts UDreslrl¢ted funds Gethtrnl Total 2024 Total 2023 Other investmeni managent costs: An¥)unls plble lo investm¢nt n]ana8ers 5.841 5.841 5.841 5.841 Allotlted iupport Total eosts Dlreet ¢0 Costs of g¢rteratitl8 donations and lewies Costs of tradin8 a¢tiw¢ie5 Investsneni mAnageml ujs 23 1,029.861 5.841 23 1,061,442 5.841 31.581 Total for 2024 1,035.725 31.581 ,067,306 Allot•tod Dlr¢¢t ¢oMs IPpOrt ¢Mts Totvjl 2023 Costs of tradin8 activities IrtV¢Stsn¢ttt IYW4ymryit 1.043J88 30,479 1,073,867 3.662 1.047.050 30.479 077 529 8 Expendlture eharltable etMI Uthrestrfe¢ed Rutrleted r•nds Totsl 2024 Centrl Cornm1 A¢li(m Team Grants diAr1bcd Govemance ¢os IntsngiblL¥ written th nil 384.924 306.721 65,111 691,645 65.111 35,882 92.985 35,882 92.985 513.791 371.832 885.623 Pa8e 27
Age UK South Lakeland Ltd known As Age UK South Lakeland Notes to the Flnanclal Statements for the Year Ended 31 March 2024 Umrestrlcted fund% G¢n¢rl Rethlcted ruthds TotAI 2023 Community Aeii¢)n Tewn GranL% disiribuicd Governance sts 511509 191528 184.454 704.037 184.454 39.185 927.676 39,185 550.694 376,982 Ddertake dlreetly Attlvlty pport cNti 2024 Community Aclion Te4m Grants dlsiribed Govcrnance Intsn8ibles written nil 354.781 65.511 336.864 691.645 35.882 35.882 92.985 512.877 Attfvlty dertaken dtttly 885 623 Attmty •upport 2023 Cornrnunity A¢lioD T¢am Grants distributed Governance 403.117 184.454 300.920 704.037 184.454 39.185 39.185 587 927 676 £513,791 {2023 - £550.694) of ihe above expMditure attributsble to unr¢51ricted fundq and £371,832 (2023 - £376.982) to restricied fiu Pa8e 28
Age UK Soutb Lakeland Ltd known as Age UK South Lxkeland Notes to the Financial Stalennts for the Year Ended 31 March 2024 9 Analyds of governnet and 8UPPDrt ¢osts Governance cvts Unrestrici¢d fndS GeDtral Tot1 2024 Total 2023 Staff costs Wage5 and Salaries Social security costs Pension costs Odr Costs Audit fees Audit ofthe financial sthtements Other ftts paid audilors L¢8al fefs Cost of tnlee nKctings Loan interes¢ Allocated support costs 11294 856 445 12294 856 445 13.622 1.084 596 25 4.620 4.764 93 1.679 3.765 7,344 4,620 4.764 93 1.679 3.765 7.344 4.21Xfr 5.505 81 1,642 7,518 4,912 35.882 35.882 39.185 10 Net incorn1thoteO1ttg resources Net incomillgl(ouigoingl Tesources (or the year irKI. 21)24 2023 Audi¢ fees Impairn*nt loss on disposal of frned assets h¢ld for gr0'S ovm use tkpreciation of fix¢d assets Amortisauon of software developt 4.620 92.985 40.483 4200 36.401 14.217 Page 29
Age UK South Lakel¥nd Ltd known as Age UK South iAkeland Notes to the Flnrdncial Statements for the Year Ended 31 March 2024 I l Trnstees remunerthin During th¢ year the group made the followiD8 tranlON$ with trugee5: R Klrkwood £Nil 12023: £563) of expenses were re1m1mw to R Ki0)d during thc year. C M Twlg¢ £260 (2023.. £Nil) of expenses w¢r¢ T¢1mbUr to C M Thvist dwin8 the yeu. B J M¢CinTr £48 (2023.. £Ntl} oreXpe •re reinthur5ed to B J Mecann durin8 the year. No trust¢¢s. nor Any pusons with thenK have rtteived wy r¢Mu10Th frorn the 8Youp durinB th¢ No trusitt8 hAve received any other benefits from the ehority dwin8 the yar. 12 Statf ¢•sts The a88re8atr payroll cost8 %re as follows.. 2024 2•23 S¢aff coili durln8 the yeAr were: Wa8es and salaries S121 $¢¢yrity ¢OSts Pension 1$ Other staff eosts 970.062 63.425 34.578 1.011.894 70.517 36.922 4.236 1 102585 1 123569 The monthly average mber of (itiCI1]n8 senior I l¢ad¢rship tearn) ernploycd by the p durin¥ the ycar exprcss¢d 85 full equival¢nts WIS Is follows: 2024 No 2023 Operations ind Specialist servi¢ 0rgani53tiol support Income gethcrntbon and relail 10 30 32 50 49 Durin8 the ye&r, the group mide redundary and/ trrniinalion pyments which io¢alled £28.00012023- £Nil). The tru5(¢¢s nwde ¢x-gratia payments lotslling £28.OIXI w two nxmbers of senior mana8¢m¢nt tum on their retirement to refleci the fxt thai ihey worked iwoNI their r11¢£ . No ery10 received ernoluwts of than £60.(th thirinB the year. Pase 30
Age UK South L•kel•nd Ltd known as Age UK South Lakeland Notes to the Fln#nel81 Stslements for the Yur Ended 31 Mgreh 2024 The tothl employee benefirs of the key mana8¢mert perstmel of the 8roup were £245.731 {2023- £274.037). 13 Audltoys. remuperltlo 21124 2023 Audit of the finanei#l staiemenis 4.620 4.200 Other fees to udltors The auditing of ac¢ounts of any 8ssQCiate ofthe chatiiy Audif.reftd llfnce ser4ices Taxation complian¢¢ 5¢rvi All other non-audit services 550 3.465 480 269 1.770 2.680 215 5.505 14 T•xAtlon The uP is a re8iStered clwiry and iB therefore ¢xuw from wuon. P8e31
Age UK South Lakeland Ltd known as Age UK South Lakeland Notes to the Flnan¢lAI statennts for the Year Ended 31 Mydrch 2024 15 IntaDglble fixed asscts Group Softw4re deYelDprnent Total Cost At l April 2023 246.830 246.830 At 31 March 2024 246.830 246.830 Amortlsxtlon At l April 2023 Charge for thc year Writedownllba¢k) to recoverable amount 139.628 14,217 92,985 139,628 14217 92.985 At 31 March 2024 246,830 246,830 Net book value Al 31 March 2024 At 31 March 2023 107,202 107202 Charltv Software development Total Cost At l April 2023 246,830 246.830 At 31 Mah 2024 246.830 246,830 Amortis#fjon At l April 2023 Charge for the year writed0w(back) lo recoverable amounl 139,628 14,217 92.985 139,628 14,217 92.985 Al 31 March 2024 246,830 246,830 Net book value Al 31 Mar¢h 2024 Al 31 March 2023 107.202 107,202 The Compass cHub is valued 81 the c05t of components and staff lime. Buycharity is v&lued ai ihe eost of developm¢Dt not including staff time. Pa8e 32
Age UK South Lakeland Ltd known as Age UK South L2ke12nd Notes to the Financial Statements for the Year Ended 31 March 2024 16 Tanglble fl%ed assets Group LaDd and buildlngs rnlture And equlpn*nt Motorvehlcl Total Cost At l April 2023 Additions 635.454 266,698 27,005 25,1Th) 927.252 27.(X)5 At 31 March 2024 635,454 293,703 25,1(KJ 954,257 DepTefi2tion At l April 2023 chge for the year 227.280 19.603 249,756 16.760 8.620 4.120 485,656 40.483 At 31 March 2024 246.883 266.516 12.740 526,139 Net book vilue At 31 March 2024 388,571 27,187 12.360 428,118 At 31 Mch 2023 408,174 16,942 16.480 441,596 Includcd within the net book value of land and buildings 8bov¢ is £370.740 (2023 - £381067) in rcspect of freehold land and buildings and £17.831 (2023- £26,108) In respcc¢ of leaseholds. Pa8e 33
Age UK South Lakeland Ltd known as Age UK &buth Lakeland Notes to the FlThndal Stalements for the Year Ended 31 Mareh 2024 Land and bmudl FKrDlture and UlpTrt MotQT v¢kkl Tot1 Colt At l April 2023 Addilions 635.454 25.100 927.252 27.005 27,(¥)S At 31 M8rch 2024 635.454 293.703 25.100 954257 Deprffladon At l April 2023 Chor¥c foT th¢ ycar 227.280 19.603 249.756 16.760 8.620 4.120 485,656 40,483 A¢ 31 March 2024 246.883 266.516 526,139 Net book Ai 31 M8rch 2024 388.571 428118 A¢ 31 Mah 2023 408.174 16,942 16.480 Includcd within the book value of lathl I1 buildings abovc is £370.740 12023 - £382.067) in r¢e¢l of freehold18nd and buildings and £17,831 {2023- £26.108) in res1 of leaseknlds. 17 Flxed Auet Group 2024 2023 Other investnKnis 597.825 554.004 D¢¢alb of undertAklnRs tkthils of the invesmxots in 1¢h the w IMAds 20% or of thc nomi1 value of any Cl of share Capital are as followts.. Pa8e 34
Age UK South Lakeland Ltd known as Age UK South Lakeland Notes to the Flnanelal sttennts for the Yeydr Ended 31 March 2024 Country of IncoryoratlD Proportlon of votlng rfghl$ Prlthelpll shares held actlvlty UndertAklnR HoldlThg 2024 2023 Subgldlary undertaklngs Tradin8 subskdiary of Age Sou¢h Lakel&nd Age UK South Lokelalld En8land and Wales Limit¢d by Trading CIC 10104067 8uarantee loo% 1000 UK Online trading subsidiary of A8e UK South Lak¢land ChArit¢k CIC England and Wale$ Limited 12294358 8U8raniee 10 10(y Other Inv¢8tm¢nts Llsted Inv¢8tments Cash held In porrfollo Tot•1 Coit or V#lu*tlon At l April 2023 Revalualion Additions Disposal8 542,251 37,965 256,481 271,992 11.752 554,003 37,965 540,170 534,313 283.689 262,321 At 31 March 2024 $64,705 33,120 597 825 Net book vglue At 31 March 2024 $64,705 33,120 597 825 At 31 March 2023 542,251 11.752 554,003 P#Be 35
Age UK South iAkeland Ltd knowD as Age UK South IAkel#Dd Notes to the Financial Statements for the Year Ended 31 Mareh 2024 Charlty 2024 2023 Othcr inveslmen 597,825 554.004 Other knvdtJDents Usted knvtttments Cash held I portfollo Cost or Valuado Al l April 2023 Revalu81ion AdditiOllS Disposals 542,251 37.965 256.481 11,752 554.003 37.965 540.170 534 313 283,689 262.321 At 31 March 2024 564,705 33.120 597,825 Ne¢ book Ylu¢ At 31 Mar¢h 2024 33,120 597.825 At 31 March 2023 $42251 11,752 18 Sioek Group Chrity 2024 202J 2024 2023 Finithcd 32.275 19 Debtors Chirlty 2024 2023 2024 21123 Trade debtors DLK from group und¢rthkin85 Prepayin¢rhts VAT recovernblc 22.864 13.789 22,864 IJ05 42,632 12.981 13.789 68.338 37.930 12.741 42.632 12.981 37.930 11.524 78.477 63.243 132,798 Pa8¢ 36
Age UK South Laknland Ltd knoTvn AS Age UK Sollth Lakeland Notrs to the nancIal Sttements for the year Ended 31 March 2024 20 Cash •nd wplvxltuts Chrtty 2024 21111 2•24 2023 C•sh on h8nd Cash at bank 1252 1.193 380.417 1252 356,426 1.193 350.146 357 727 381.610 357,678 351.339 21 Cr¢dl¢on: fllllng dut wlthln oThe ye•r Grwp Chrfty 2•23 2024 2023 Bank loans Trade creditors Rewurces held for third partics Other laxation and 50ciai secwity Other ¢redilors AccnJ•ls Deferred income 45.454 39.132 61.032 16,162 5.624 15,027 45.454 46.169 61.032 16,162 5.624 13.782 25.0 40J83 40.583 14.784 (328) 13.150 14.784 (328) 12,6(Kl 207,431 108J56 De[red Income 2024 Groop Def¢ed ai l Awil 2023 R¢soyr¢es d¢frrr¢d in the period Arnounts released from PT¢ViOW periods 25,0(KJ 40.717 25,01 Def¢ed incomc 4131 Marth 2024 40.717 2024 Chrlty Deferred ineome It l April 2023 ResouTces deferred tn p¢riod Amounts rcleued from previous periods 25.000 40,717 25,0(Kl Defeffed income at 31 March 2024 40.717 Page 37
Age UK South Lakeland Ltd l(Down As Age UK Soulh Lakeland Notes to the Flnanclal Statements for the Year Ended 31 March 2024 Resources held for Thlrd P4rtlu as agent or eustodlan trustee Brought rorwrd Group and Charfty R¢¢elved P4ld out C8rrled forward Big Lottery Eart ICC Locality gr8nt and Public Health Locality gT8rtt 61,032 161,435 (222.4671 61.032 161,435 (222.4671 22 Cr¢dltori: amout8 falllhg duc after one y¢Ar Group Chrfty 2024 2023 2024 2023 Bank loans 106.061 23 ObU8Atloni under leaiu And blr¢ pr¢bIle ¢(th¢rAets Operadni leAR eommltments To¢pl mknimum lease payments und¢r nonan¢ellable op¢ro¢ln8 le48¢1 are os follow5: Group Chgrlty 2024 11123 2024 2023 d and bulldlngi Within one year Betw¢¢n onc and five years After five yetrs 192,860 203,038 82.963 164.631 220,841 121,275 199.620 216.975 86,625 164.631 220.841 121,275 506,747 478 861 506,747 503 220 Otber Within onc year ,939 24 Pe810 Dd oth¢r ichemel Defined ¢ontrlbutlon penslon sthen The Broup operates a defined contribution pension scheme. Th¢ p¢nsion Cost Char for the year rrThts ntributions payable by the group to the scheme and amounted to £34,578 (2023- £36.922). PaBe 38
Age UK South Lakeland Ltd Itnown as Age UK South Lakeland Notes to the Ffnanelal Statements for the YeAr Ended 31 March 2024 25 Fundi Group Bal8nfe BlaThee Other t31 At l Aprtl IntomlHg Resourtoi rccognls¢d March 2023 ¢xpeDd¢d Trnn$feri iAlnsl{losw) 2024 Unrestrlc¢ed GeneMI Remainin unrcstTicd fund8 152,049 1.602.554 (1,433,411) 12,450 37,965 371.607 Deslgiilltsd D¢signat¢d fund$- 4$ per charity 1.088,705 147,686 928 569 Tot•1 unrutrttted (undi 1,240,754 1.602.554 (1,581,097) 37,965 1.300,176 Reitrlcted fundi Restrieied thnds as per ¢h¥rlty 371832 422,896 L 76.749 Total CliDdi 1.266,439 2 025 450 (1.952,929 37,965 1376 925 BglAnce Other •tJA At l Aprll InmIng Resour¢ei reeo8nlsed March 21)22 r•soyrces expended Tr4n$fers KaIno0¥$I¥) 2Q23 Vnroitrl¢l¢d Gewer41 Remaining unrcstricied funds 231.528 1,495,873 (1,577,605) 36,595 (34,342) 152,049 Dc5ignat¢d fund$- a5 p¢r hority 1,175,918 (50,6181 (36,5951 1,088 705 Total unrestrlctcd thndi 1.407.446 1.495.873 (1.6282231 (34.342) 1.240.754 Restrl¢ted Restricted fijnds as per charity 22,412 376,982 380,255 L 25.685 1,266,439 Page 39
Age UK South Lakelgnd Ltd knoivn 85 Age UK South Lakeland Notes to the Flnanclal Statements for the Year Ended 31 March 2024 Charlty B41Ance t31 March 2024 BAl•nce Other 8t l Aprll ID¢omlng Res0r¢¢5 recognl8<d 2023 resour<e8 expended Trhrf¢rs galnsl(losse5) Unrestrl¢ied fundi GenMI Rcmaining uDr¢stri¢t¢d fvnds 153.266 1,602.474 (1.432,5421 12.450 37,965 373,013 Deslgn4l¢d Fixed asset nd General core rcserve Planned investment in services Provision for upgrnde of IT Bnd telhOne systems 548,799 400,000 (147.686) 27,005 428.118 400,000 49,906 50,545 100.451 90.000 1.088 705 147,686 12,450 928.569 Total unrtttrttted fllnd8 1.241,971 1,602,474 (1.580.228 37,965 1.302,182 Reitrkted funds Building Resilience CCC Public H¢alth Social En8a8emcni E ON Warni Ilomes plus BIB Loit¢ry R¢Gonn¢¢(in Cumbria Adult Community Merttal Health Eric WTight Tn¢ Cumbria Community Foundation Winter Warniih AgD¢s Backhou5e Charitoblc Trusi Bereavemcrtt Support GrAni Poverty Reduciion Fundin ASDA Foundation Cost of livin8 respoMe fund 36,000 {36,0001 10.LN)o 29.815 {10,0001 (29,8151 41,891 {41,8911 73.963 30.(M)O {73.963} (30,0(KII 1,140 I(),980 157,110) 45.010 9,090 15,CKIO 17,687) 16,403 10,000 33,000 (30,791) 12.209 5,000 15,OiW)) 1400) 400 32.063 (32.063) PaBe 40
Age UK South Lakeland Ltd known As Age UK South Lakeland Note$ to the Ffnanclal Sttements for the Year Ended 31 Mareh 2024 Balance 8t31 MAreh 2024 Balance Other al l ApTU Infomlng R¢sour¢¢s recognlsed 2023 regources eKp¢nd¢d Trqnsfeys g•lDsI(10$5e$) Motw Reilly Matters- Indpendeni A Ambleside M&sonic Lodge 19.784 (16,798} 13141 2,986 455 Total restrttted fundi 25.685 422,896 371.8321 76.749 Total 1267 656 2,025.370 (1.952,060 37.965 1378.931 B4iAnce BalAn£e Other at31 at l Aprll Itteomlni Resour¢ r¢eo£nlsed March 2022 re50ure expended Tran#fern ¥Aln81(lossu) 2023 Unrestrleted fun G¢nMI Remiining unrestricted fijnds Deslgnaled Fixed osset fund Gcn¢ral ¢¢>r¢ r¢s¢rv¢ Planned inveBttneni in services Provision for pde of IT and telephone s¢M& 231.636 1.431,801 {1.512.4241 36,595 (34.3421 153.266 539.498 400,000 150,6181 59,919 548,799 400.000 146,420 (96.514) 49.906 90,000 ,175,918 50,6181 36,595 1,088,70S Total vnrertrleled tundi 1.407,554 1431801 (1,563.042 1241.971 Restrltted funds Buildin8 Regilience NlOnwide grant E ON HHE Handyperson Home ener8y E ON Wami Homes plus BL8 Lottery Reconnectln8 Cumbria SLDC Emer8ency fi1 Cumbria Community Foundation Winter Warmth Cumbria CCF Grant for rcdistribuitort 7,313 21,937 24.925 129,2501 (24,92SI 62 15.075 (621 {15.0751 42.331 500 {42.3311 15001 7,680 124,650 1131.1) 1.140 39.690 {39,61)01 Page41
Age UK South Lakeland Ltd knojvn as Age UK South Lakeland Notes to the FlnantlAI Statements for the Year Ended 31 March 2024 Balance BalaDce Other 4¢31 at l Aprll Ineomlng Resources reeognl$e4t March 2022 re50urce5 expended Transfers g<105$eS) 2023 A8nes Backhou5¢ charib Trust CCF Cumbria Cuppa Grant Bereavement Sw)port Grnni Poverty Reduction Fundin8 Rayne Fowidaiion Grdnt Barrow. Thornbarrow Ambleside M*soni¢ L8¢ Gat¢way Group 6.964 15.000 958 15,000 30.0 20,000 (12.874) (958) {5,000) (25.000) (20,000) (200) 9,090 10,000 5.OIN) 455 455 29.927 (29.927) Total restrlctsd funds 22,412 380255 376.982) 25.685 Total funds 1.429,966 1.812.056 (1.940,024) 34,342) 1267,656 The specifi¢ purposes for which the fimds are to be applied are as follows: Cumbria Community Foundation - Wtnter Wamith Grnnts: The partner or8ani5ation will distribute grants on behalf of Cumbria Community Foundation to individuals to alleviate winter r¢latcd hardship across South L4keland. Age UK E.On Betlts take up.. E.ort Wern Homes Progfamme- Benefit Entitlemcnt Checks Age UK E.On Horne Ener8y Check5.. E.on Warn? Homes Pro8Tarnme- Home Energy Check5 Rayne Foundation. The Eric Wright TrusL Age UK - No Place Like Home. Big Lottcry Community Fund - Compass Connections.. Expanding Cornpa&5 Outside Cumbria and developmeni of Compass. Cumbria County Council - South takeland local tcam - Fa115 Prevention Work.. To deliver falls prevention awareness in the community Age UK- Think Digital.. To deliver di8ital awaren aTMI support Big Lott¢ry Commimity Fund- Stayin¥ Connecied: To pUhaS¢ laptops.table¢s- lo support digitsl ¢ngemen( Arnied Forces Covenani Fund - Ve¢eratLS Slhould Not be Forgotten: To d¢liver Compas6 work specifically its veterans of the Arnd Forc Pagc 42
Age UK South Lakeland Ltd Imown as Age UK South Lakeland Notes to the Flnanelal Statements for the Year Ended 31 March 2024 20 All41ys fyf ntt Amets betweeD fundi Gr•wp Tot fvndy al 31 March 2024 Unrestrletod funds Gentral Dt818nated Restrltted funds TAngible fixed assets Ftxed a85et investments Current asse¢s CutTenl liabilities 428,118 5txi,451 428.118 597.825 459,888 108.906 97,374 383,139 108 906 76.749 Total ncl &85¢18 371607 928 569 1376.925 TotAI fllndi at 31 M8T¢h 2013 Unreitrl¢t¢d fundi General DulgnAted Rostrl¢t¢d ruTrdi Intsngiblc fixed Asscts Tangible fixed assets Fixed assel invc6lments Curr¢nl a55¢ts Currcni liabilities Cr¢dift)ts ovcr l yc•r Total nct ¢¢$ 107,202 441,597 539,906 107.202 441.597 554,004 477.128 (207.431) 14,098 451.443 1207,431) 106.061 25.685 152,049 1088,705 25,685 1266 439 P•g¢ 43
Age UK South Lakeland Ltd known as Age UK South Lakelind Notes to the Flnanelal StstemeDts for the Year Ended 31 March 2024 Charlty Total tsnds qt 31 March 2024 Unr¢strl¢t¢d fund5 G¢n¢rAI D¢ilgnatcd Restrleted funds Tangible fjxed #ssetg Fixed 8s5¢t investments Current ossels Current liabilities 428.118 500,451 428,1 18 597.825 461,344 108 356) 97.374 384.S95 108.356 76,749 Totsl net a&s¢ts 373.613 928,569 1.378.931 Total funds At 31 Mgrch 2023 Umrmtrletod GenerAI Reytrlcted funds DeilgThated Inrangible fixed assets TanBible fixed H88¢ts Fixgd asscl inv¢stsnen Cuffent hsstts Current liabililics Cr¢ditors over l y¢ar Tot41 n¢[ &ssets 107.202 441.597 539.906 107,202 441J97 554.004 484,138 1213,2231 106,061 14,098 458.4S3 (2132231 106,061 25,685 133267 1088,705 1.267 657 27 R¢l4t¢d p4w trins•¢tloni Group There were no Telated party trsnsA¢tions in ihe year. ChArlty There were no related porty transwions in th¢ year. Page 44