Company registration number.. 07540805 Charity registration number.. 1141415 Age UK South Cumbria Ltd known as Age UK South Cumblla Iformerly Age UK South Lakeland) {A company limited by guarantee) Annual Report and Financial Ststements for the Year Ended 31 March 2025 Slables Thompson & Briscoe Chartered Accountants & Statutory Auditors Lowther House Lowther Street Kendal Cumbria LA9 4DX
Age UK South Cumbria Ltd known as Age UK South Cumbria (formerly Age UK South Lakeland) Contents Reference and Administrative Delails Trnslees, Report 2to9 Independent Audwtors, Report 10t012 Statement of Financial Activities 13to14 Balance Sheet 15 Notes lo the Financial Statements 16to38
Age UK South Cumbria Ltd known as Age UK South Cumbria (formerfy Age UK South Lakeland) Reference and Administrative Detalls Chair C M Twist Chief Executive Officer P Whiteley Senior Management l Leadership H Kilching. Deputy Chief Executive Team M Kitchen. Finance Manager G Hartley, Head of Retailllncome Generation ChaTity R8gistration Number 1141415 Company Registration Numb8r 07540805 The charity is incorporated in England. 17 Finkle Slreei Kendal Cumbria LA9 4AB Registered Offic8 Auditor Stables Thompson & Briscoe Chartered Accountants & Statutory Auditors Lowther House Lowlher Street Kendal Cumbria LA9 4DX Sollcitors: Renshaws 28A Finkle Street Kendal Cumbria LA9 4AB Bankers Barclays Bank PLC 9 Highgate Kendal CLtmbria LA9 4DF Page 1
Age UK South Cumbria Ltd known as Age UK South Cumbria (formerly Age UK South Lakeland) Trustees, Report The trustees. who are directots for the pury)oses of company law, present the annual report together with the financial statements and auditors, report of the charitable company for the year ended 31 March 2025. The financial statements have been prepared In accordance with the accounting [l¢leS set out in notes to the accounts and comply with the charity's governing document. the Charities Act 2011 and Accounling and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting St8ndard applicable in the UK and Republle of Ireland published in October 2019. Objeclives and activltles Objects andaims The twstees of Age UK South Cumbria wllsider their purpose is to govem an organisation that exists to improve the lives of older people in South Cumbria. Our ambition is that in South Cumbria, everyone in later life= Has a decent income Can feel well and enjoy life as much as possible - Can access high quality health and care services Feels comfortable, safe alld secure at home Feels valued by their local community with opportunities to loin, volunteer, learn or work As a cilizen with rights, has their voice heard and can influence decisiolls that affect them Our strategy as we work toward our objects and aims over the next three years is to work with and for older people in order to.. Provide information, advlce and 8ssislance that helps people to aCsS benefits and exercise choice to make best use of their resources and improve their experience of daily life Help build stronger communities that increase people's social contact and wellbelno Support the development of more restx)nsive health and welfare services ihal offer people holistic and timely services reflecting their needs and circumstsnces Help the voices of older people and their lived experience to be heard Generate independent income streams that enable us to invest in activity which is r¢ot a current public sector priority Page 2
Age UK South Cumbria Ltd known as Age UK South Cumbria (formerly Age UK South Lakeland) Trustees, Report 0yes, strategios andactivities Our ambition cznnot be achieved only by our action within South Cumbria. We will continue to work with and through Age UK nationally, with whom we are Brand Partners and have a shared overBII strategy. We will also work with the other Age UK groups and any other partners across Cumbria who share our ambition. As we develop our annual business plans which set oul our actions to deliver our strategy, we will: - Gather and use evidence Involve older people Respond lo the particular challenges of dispersed and rural communities in South Cumbria Develop partnerships and the means for strong co112boration within the third sector and with statutory organisations Seek to ensure that our input contributes to lasting improvements for individuals and their communities We have adopted É set of values which should be evident to older people, our staff, our volunteers and our partners in all aspects of our work. They are to.. - Be respecfful Be inclusive Be positive Be realistic Be empowering Make a difference in people's lives. Fundr8ising dClOsureS Age UK South Cumbria follows the Age UK Fundraising Charter which has been developed with our donors and older people in mind and does not use professional fundraisers or involve commercial participators. There have been no complaints about fundraising activity this year. Further delai15 can be found at https'.Ilwww.ageuk.org.uklget-involvedlfundraiselfundraising-charterl. Public benefit The charity works with local older people to help them retain their independence and exercise real choice in their lives. We aim to do this by.. delivering services that help to meet the needs of older people and fit with the other local services in the communities in which they live., informing and advising older people of their rights and options., advocating for and on behalf of older people on issues which matter to them as individuals or communities. consistently and constsntly to ensure we fully understand their needs. The trustees confim) that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Achievements and performance The operational and financial planning for the year April 2024 to March 2025 was very positive. In the previous year we had worked hard to achieve some level of normality following the COVID 19 pandemic. During this year we have continued lo build on this work as well as adjusting lo Signifint changes in our Senior Leadership Team. The continuation of the war in Ukraine continues to impact on the world economy. Issues such as high energy prices still affecl those who are most vulnerable in our society. Page 3
Age UK South Cumbria Ltd known as Age UK South Cumbria (formerly Age UK South Lakeland) Trustees, Report During this financial year, our social engagement programme has continued to slrengthen. Every week there are over twenty-five different exercise related events happening across South Cumbria. Our Lunch clubs are also back to full strength with new ones opening all the time. Our client Services team have continued to support the 05der people of South Cumbria. The team delivered 2,7(K) responses to requests for information and 1,993 clients were supported to complelion for casework. Unrestricled revenue generation comes mostly from our retailing 8Ctivities. In this financial year we achieved a sales level of £1,520,885 across our retsil estate and online operations. From that significant sales level, when all the direct operational costs of the retailing division are deducted, that left a surplus contribution to the charity's overheads and operational costs of £396.828. The retalling division has continued to be ch211enged by rapid increases in the cost of employment locally. As part of the wider re-slrucluring of the charity, retail pay scales are reviewed annually to better reflect the currenl local market trends. Grants andlor contracts provide a source of restricted income for ihe charity, however there is a need lo ensure thet any grant or contract does not divert the charity from its agreed strategic plan. We also need to remain aware of the potential for contracts in particular lo develop financial dependency on the contracting organizalion, and thus changing the overall focus of the charity- Currently the charity does nol engage in any contract or subcontract work. We also concentrate our grant application efforts on those grant providers who offer grants for projects or workstreams proposed by the prospective grantee. The SMT continues to review all contract and grant opportunities, all grant 8pplications are completed internally. In this financial year the team completed nine grant applications to various potential lunders. We were successful in securing eight grants with a total value lo the charity of £466,895 over the life of those grants. It should be noted some of these grants were mulii-year This equates to a success rate of 88Yo against a national average SUc$S of approximately 16%. These successful grants were in addition to grant funding Ihal we enjoyed from ihe previous year's awards, that rolled into 2024125. The acquisition of grant funding remains challenging but we continue to pro£ctively seek appropriate sources of fvnding. Financial revlew The chErity's income was £2,001,626, very similar to 2024 which was £2,025.370. Expenses were £1.986,19812024 - £1,952,060) resulting in a surplus of £21,277 after gains of £5,849 on investmenls 12024- £111,275 after gains of £37,965). Page 4
Age UK South Cumbria Ltd known as Age UK South Cumbri8 (formerty Age UK South Lakeland) Trustees, Report Pollcy on reseThes The Trustees maintain resetves, which are Charity fvnds to be realised at short notice if required. Should the funds fall below the agreed level, immediate steps would be taken to reinstate them by cutting project expenditure. Property values are not taken into account in calculating these reserves. The Trustees review the reserves on an annual basis, and for the year 2024125 considered £561,000 lo be a reasonable holding. In reviewing the level for the year 2Q24125 the Trustees accounted for the followng.. Nomial day to day fluctuations in working capital and cash flow. Three months of salary and rental obligations based on the 2024125 budget were considered an appropriate amount. Possible emergencies. such a5 cessation of trading 8t one of the retail units for the sale of donated goods or the loss of three months, sales for the Kendal Furniture Warehouse. As at 31 March 2025 the charity as a group held funds lotaling £1,400.208 of which £388,862 was held as tangible and intsngible assets and £104,179 was the planned investment in services for 2025126. This left £907.167 of which £47,395 represented restricted fvnds, and £561.000 the core holding so that free reserves had decreased in the year Irom £373,613 to £298,772. This is in line with the charity's objective of providiw seTvices while maintaining sufficient reseryes. Pnnapal funding sourtss The charity obtains funding for its charitable activities from a range of grant funders including the Big Lottery and Age UK. It also aims to improve ftjnding from its range of charity shops and online sales to support our work of improving the lives ol the older people of our district. Invesln7entpolicyandobJectiYes ATAMOS Private Investments manage the organisation's investment portfolio on behalf of the Trustees. The Trustees review investment performance every six months 2nd receive reports from the invesbment company every quarter. The Trustees consider that the guiding principle of the agreed investment policy is to generate funds for the Charity, but that they will not invest in a particular business in circumstances where such investment might hamper the work of Age UK South Lakeland by alienating actual or potential financial supporters. Plans for future periods Alms8nd keyobjectlves foi future perfods Earlier this year the Board considered whether lo merge with Age UK Barrow and District. Following discussions with the Age UK Barrow and District Board ar)d a period of due diligence. it was agreed that such 8 merger should be progressed. Since this decision was taken a lol of work has taken place lo progress the merger and it is intended for this to be completed on 1 st April 2025. The result of this merger is that Age UK South Cumbria will oper8te on E much wider footprint taking in South Cumbria, which can be defined as the areas covered by the previous local councils of South Lakeland District Council and BatTOW District Council. Ttustees and officers The trustees and officers serving during the year and Sin the year end were as follows: Page 5
Age UK South Cumbria Ltd known as Age UK South Cumbria (formerly Age UK South Lakeland) Trustees. Report Tnjstees: J Airey P Leahy (appointed 25 September 20241 C E Lewis (resigned 30 September 20241 B J Mecann S Newell C M Twisl Ch81r'. C M Twist Chief Executive Officer- P Whiteley Senior Management l Leadership H Kilching. Deputy Chief Executive Team.. M Kitchen, Finance Manager G Hartley, Head of Retsilllncome Generation Structure, governance and management Nature ofgoverning documenl The charity is a company limited by guarantee. The company took over the assets of the charity known as Age UK South L8keland Icharity number 5083901 on 1 April 2011 and is now registered as charity number 1141415. Age UK South CLtmbria is an independent charity registered wilh the Charity Commission and govemed by a group of trustees who have been elected by the membership of the charity. The charity has been operating locally since April 1978. Recniifrpwl 8ndappoinfrnent orinjsiees The Chair is elected for three years and shall not seNe more than two consecutive terms of office. In 8ccordance with the governing document the Trustees can co-opt up to one third of their number during the course of the reporting period. Cowopted irustees must be relected al the following AGM. One third of the board retire5 by rotstion at e8ch AGM and is eligible for re-election at that AGM. Only one Trustee has served for longer than nine years. This appointment has been reviewed and it is felt that the value in terms of knowledge of the organisation and understanding of benefieiaries far outweighs any possible risks. Inducuon andlraining of Irustees All new Tnjstees are offered the opportunity to meet with key staff in the organisation, and are given copies of Board of Trustee5' minules and papers for the past six months, the most recent Trustees, Annual Report and Accounts, a copy Df the Constitution and CC3 - The Essenlial Trustee (Charity Commission). The Board of Trustees h8ve adopted the Charity Govemance Ccmge and use il to review Board performance and identify training needs. Page 6
Age UK South Cumbria Ltd knovm as Age UK South Cumbria (formerly Age UK South Lakeland) Trustees, Report RiskmanagenRnt The Board of Trustee5 is responsible for the m8nagement of risks faced by the Charfy- There is a formal annual review, but risks are identified and assessed, and conlr(As estsblished, throughout the year. Key controls during 2024125 have included.. Formal agendas for all committee and Board activity. Comprehensive strategic planning, budgeting and management accounting. Established organisational structures and lines of reporting. Clear authorisation and approval levels. Procedures as required by law for the protection of vulrierable adults and children. The Board of Trustees is satisfied that major risks have been identified and measures are in place to ensure that they are adequately mitigated where necessary. Org8niS8tionBI stnKture The charity and ils subsidiaries are managed on a day-to-day basis by the Senior Management Tea who report and meet with the Board of Trustees on a monthly basis. Oversight of the budgeting and monitoring of management accounts is conducted by the Chair of Trustees on a monthly basis. She liaises wih ihe auditors lo produce the year end slatulory accounts. Relationships with relakd parties Age UK The charity is a brand partrser with the national charity Age UK and is part of a ne0 of more than 125 brand partners across England and local partners based in Wales, Northem Ireland and Scotland. As a brand partner with Age UK the trustees have agreed to deliver a local information and advi service working with older people. This is part of a wider range of inlormation, advice and practical support seNices. Page 7
Age UK South Cumbria Ltd known as Age UK South Cumbria (fonnerly Age UK South Lakeland) Trustees, Report Financial instruments Objectives andpolic$ The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The charity does not use derivative financial instruments. Cash flownsk The charity's activities expose il primarily to the fin8ncial risks of changes in economie conditions, funding availability and investment income rates. Creditnsk The charty's principal fillancial assets are bank balances and cash, trade and other receivables, and investments. Where any risk relates to trade receivables an allowance for impairmenl is made. The credit risk on liquid funds is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencie5. The charity has no significant concentration of credit risk, with exposure spread over a large number ol counterparties and customers. Liquidity iisk In order to maintsin liquidity to ensure that sufficient fijnds are available for ongoing operations and future developments, the tharity uses a mixture of long-lerm and short-temi investments. Further det8ils regarding liquidity risk can be found in the Statement of accounting policies in the financial statements. Statement of trustees. responsibilities The trustees (who are also the directors of Age UK South Cumbria Ltd for the purposes of company 12wI are responsible for preparing the trustees. report and the financial statements in accordance with 8pplicable law and United Kingdom Accounting Slandards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 'The Financi81 Reporting Standard applicable in the UK and Republic of Ireland" The report and accounts have been prepared in accordance with th8 provisions in the Companies Act 2006 relating to small companies. Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources 2nd application of resources, including its income and expenditure, of ihe charitable company for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and apply them consistently., obserye the methods and principles in the Charities SORP., make judgements and e5timate5 that are reasonable and prudent.. state whether applicable Bccounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements., and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. Page 8
Age UK South Cumbria Ltd known as Age UK South Cumbria (formerly Age UK South L8keland) Trustees, Report The trusiees are responslble for keeping proper accounting records that can disclose WFih reasonable accuracy al any time the financial posilion of the charitable company and enable them lo ensure th8t the financial statements comply with the Companies Acl 2006. They are also responsible for safegu8iding the assets of the charitable company and hence for tsking reasonable steps for the prevention and detection ot fraud and other irregularities. The trustees are responsible for the maintenance and Integrlty of the corporate and financial information included on the charitable company's website. Legislation goveming the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Disclosure of Information to auditor Each trustee has taken steps that they oughl to have taken as a trustee in order lo make themselves aware of any relevanl audit Informatio and to establish that the charity's auditor is aware of that information. The trustees confimi that there is no relevant information that they know of and of which they know the auditor is unaware. Small (xJmpanie$ provision ststement This report has been prepared in accordance wtth the small companies regime under the Companies Act 2006. The Qnnual report was approved by the Irustees of the charty on 30 July 2025 and signed on its behalf by: C M Twist Chair and trustee Page 9
Age UK South Cumbria Ltd known as Age UK South Cumbria (formerly Age UK South Lakeland) Independent Auditorfs Report to the Members of Age UK South Cumbria Ltd Opinion We have audited the financial statements of Age UK South Cumbria Ltd (the 'charily') for the year ended 31 March 2025. which comprise the Statement of Financial Activities, Balance Sheet, and Notes to the Financial Statements, including a summary of significant accounting policies. The linallcial reporting framework that has been applied in their preparation is Uniled Kingdom Accounting Standards, comprising Charities SORP - FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, and applicable law (United Kingdom Generally Accepted Accounting Practice). In our opinion the finencial ststements: give a true and fair view of the slate of the ch8ritVs affairs as 8131 March 2025 8nd of its incoming resources and application of resources, including ils income and expenditure, for the year the have been properly prepared in accordance with Ur¢iled Kingdom Generally Accepted Accounting Practice- and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with International Standards on Auditing (UK} IISAS IUKII and appllcable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financ581 statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant lo our audit of the financial ststements in the UK. including the FRC'S Ethical Standard, and the provisions available for small entities, in the circumstances sel out in note lo the financial statement5. and we have fulfilled our oiher ethical responsibilities in accordance with these requirements. We believe Ihal the audit evidence we have obtsined is suffi'cient and appropriale to provide a basis for our opinion. Conclusions relaling to golng concem In auditing the financial statemenls. we have concluded that the INstees use of the going concem basis ol accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relaling lo events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at le8St twelve months from when the original financial stalements were authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going conrn are described in the relevant sedions of this report. Other Infonnatlon The trustees are responsible for the other infom)alion. The other irrformation comprises the Information included in the annual report, other than the financial statements and our auditol's report thereon. Our opinion on the financial statements does not cover the other information and, expt to the extent otherwise explicitly slated in our report, we do not express any form of assurance onclusion Ihereon. Page 10
Age UK South Cumbria Ltd known as Age UK South Cumbria (formerly Age UK South Lakeland) Independent Auditorfs Report to the Members of Age UK South Cumbria Ltd In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knoedge obtained in the audit or otheNise appears to be materially missl8ted. If we identlfy such material Inconsistencies or apparent materi81 misstatements, we are required to determine whelher there is a material misstatement in the financial statements Dr a material misstatement of the other information. If, based on the work we have perfomieé, we conclude that there is a material misstatement of this other irrform8tion, we a required to report that fact. We have nothing to report in this regard. Oplnion on other matter pre3cribed by the Companies Act 2006 Irs our opinion, based on the work undertaken in the course of the audil- the information given in the Tnjstees, Report for the financial year for which the financial statements are prepared is consistent with ihe financial statements., and the Trustees. Report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of our knowledge and understanding of the charity and ils environment obtèlned In the course of the audit, we have not identified material misstatements in the Trustees. Report. We have llDlhing to report in respect of the following rnatters where the Companies Act 2006 requires us to report lo you if, in our opinion.. adequale accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us., or the ffnanci81 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 infomiation and explanations we require for our audit. Responsibilities of trustees As explained more fully in the Statement of trustees, responsibilities {sel out on page 8 and 9), the Irustees are responslble for the preparation of the financial statements and for being satisfied that they give a true 8nd fair view. and for such internal control as the Injstees determine is necessary to enable the preparation of financial s18tements that are free from material misststement, whether due lo fraud or error. In preparing the fin2ncial statements. the trustees are responsible for assessing the charitvs ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations. or have no realistic alternative but to do so. Page 11
Age UK South Cumbria Ltd known as Age UK South Cumbria (formerly Age UK South Lakeland) Independent Auditorfs Report to the Members of Age UK South Cumbria Ltd Auditor responsibilities for the audit of the financial statements Our objectives are lo obtain reasonable assurance 8bout whether the financial statements as a whole are tree from material misstatement, whether due lo fraud or error, and lo issue an auditor'5 report that includes our opinion. Re8sonable assurance is a high level of assuran, but is not a guarantee that an audil conducted in accordance with ISAS {UK) will always detect a Mateal misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could re850nably be expected to influence the economic decisions of users laken on the basis of ihese financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.. We identified areas of laws and regulations that could reasonably be expected lo have a material effect on the financial ststements from our experience and from discussions with management. We reviewed any related correspondence and records of trustee meetings to assess compliance with laws and regulations and discussed the current position with management. We ensured the audit team were alert for any indications of non-compliance throughout the audit work. We assessed the charity's wlicies and procedures on fraud risks. No instances of actual, suspected or alleged fraud were identified by us or the charity in the year. Because of the inherent limilalions of an auéit, there is ? risk that we will not detect all irregularities, including those leading lo a material misstatement in the fillancial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non<ompliance. The risk is also greater regarding irregularities occurring due to fraud rather than error. as fraud involves Intentlonal concealmenl. forgery, collusion, omission or misrepresentation. Helen Holmes Bsc FCA (Senior Statutory Auditor) For and on behalf of Stsbles Thompson & Briscoe, Statutory Auditor Lowther House Lowther Street Kendal Cumbria LA9 4DX Page 12
Age UK South Cumbria Ltd known as Age UK South Cumbria (formerly Age UK South Lakeland) Statement of Financial Activities for the Year Ended 31 March 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted nds Restricled funds Total 2025 Note Income and Endowments from: Donations and legacies Charitsble activities (Xher trading activities Investment income Other income 36,068 12,500 1,520,884 35,106 25,614 36,068 383,954 1,520,884 35,106 25,614 371,454 Total income 1,630,172 371,454 2,001,626 Expenditure on.. Raising funds Charitable activities {1,133,1651 452.225 11,133,165) 853 033 400 808 Total expenditure Gainsllosses on inveslment assets {1,585,3901 5,849 1400,8081 (1,986,198) Net incomel(expendlturel 50,631 29,354 21,277 Net movemenl in funds 50,631 (29,3541 21,277 Reconciliation of funds Total funds brought foard Total funds canied loard 1,302,182 76,749 1.378,931 25 1352813 1400 208 The notes on pages 16 to 38 form an integral part of these financial statements. Page 13
Age UK South Cumbria Ltd known as Age UK South Cumbria (formerly Age UK South Lakeland) Statement of Financial Activities for the Year Ended 31 March 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestrictèd funds Restricled funds Total 2024 Note Income and Endowments from.. Donalions and legacies Charitsble activities other Irading activities Investment income 52,597 10,000 1,528,180 11,697 52,597 432,896 1,528,180 422,896 Total income 1,602,474 422,896 2,025.370 Expenditure on.. Raising funds Charitable activities 11.066,987} 513241 11,066,987) 885,073 371,832 Total expenditure Gainsllosses on investment assets 11,580,228) 37.965 1371.8321 11,952,060) 37,965 Net income 60,211 51,064 111,275 Net movement in funds 60,211 51,064 111,275 Reconciliation of funds Total funds brought forward Total funds carried foNiard 1,241,971 25,685 1,267.656 25 1302 182 1,378,931 All of the charily's activities derive from continulng oper8tions during the above two periods. The funds breakdown for 2024 is shown in note 25. The notes on pages 16 to 38 form an integral part of those ftnancial 51atements. Page 14
Age UK South Cumbria Ltd known as Age UK South Cumbria (formerly Age UK South Lakeland) (Registration number: 07540805) Balance Sheet as at 31 March 2025 2025 2024 Note Fixed assets Intangible assets Tangible assets Investments 16 17 18 40,320 348,542 624,581 428,118 597,825 1,013,443 1,025,943 Current assets Stocks Debtors Cash at bank and in h8nd 19 20 21 18.747 87,231 379,825 485,803 23,684 79,982 357,678 461,344 Creditor3: Amounts tslling due within one year 22 108,356 Not current as58ts 386,765 352,988 Net assets 1400,208 1,378,931 Fund$ of the charlty: Restricted income funds Restricted funds 47,395 76,749 Unrestricted income funds Unrestricted funds 1,352,813 1.400,208 1,302,182 Total funds 25 1,378,931 These financial statements have been prepared in accordance wlth the special provisions relating to ompanies subj'ect to the small companies regime within Part 15 of the Companies Act 2006. The financial statement5 on pages 13 to 38 were approved by the Iwstees, and authorised for i5stse on 30 July 2025 and signed on their behalf by.. C M Twist Chair and trustee The notes on pages 16 10 38 fomi an integral part of these financial statements. Page 15
Age UK South Cumbria Ltd known as Age UK South Cumbria (formerly Age UK South Lakeland) Notes to the Financial Statements for the Year Ended 31 March 2025 1 Charlty status The charity is limited by guarantee, incorporated in England, 8nd consequently does not have share apital. Each of the truslees is liable to contribule an amotjnt not exceeding £1 towards the assets of the charity in the event of liquidation. The address of its registered office is.. 17 Finkle Street Kendal Cumbria LA9 4AB These financial stetements were authorised for issve by the Irustees on 30 July 2025. 2 Accounting policies Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial statements are set oul below. These policies have been consislently applied to all the years presenled, unless otherwise stated. Statement of compliance The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommer¢d8d Practice appIlble lo charities preparing their accounts in accordance with the Financial Reporting St8ndard Epplicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland {FRS 1021, the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Praclice. Basis of preparatlon Age UK South Cumbria Ltd meets the definilion of a public benefit entity under FRS 102. Assels and liabilities are inltially recognised at historical cost or iransaction value unless otherwse stated in the relevant accounting pollcy notes. The financial ststements are prepared in slerling which is the functional currency of the charity and rounded to the nearest £. Going concern The trustee5 consider that there are no material uncertainties about the charity's ability to continue as e going concern nor any significant areas of uncertainty Ihal affect the carrying value of assets held by the charity. Income and endowments All Income Is recognised once the charity has entitlement to the income, it15 probable that the Income will be received and the amount of the income receivable can be measured reliably. Page 16
Age UK South Cumbria Ltd known as Age UK South Cumbria (formerly Age UK South Lakeland) Notes to the Financial Statements for the Year Ended 31 March 2025 Donations andleo8cles Donations are recognised vjhen the charity has been notified Writing of boih the amount and settleTnenl date. In the event thal a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the fuTFds, the income is deferred and not recognised until either those conditions are fLtlly met. or the fulfilmenl of those conditions is wholly within the control of the charity and it is probable that these conditions will be fLslfilled in the reporting period. Legacy gifts are recognised on a case by case basis followino the grant of probate when the edministratorlexecutor for the estzte has communicated in writing both the amount and settlement date. In the event that ihe gift Is in the form of an asset other th8n cÈsh or a financial asset traded on a recognised stock exchange, recognition is subject to the value of Ihe gift being reliably measurable with a degree of reasoneble accuracy and the title to the asset having been transferred to the charily. Grants re1vable Grants are recognised when the charity has an enlillement to the funds and any condltlons Ilnked to the grants have been met. Where performance conditions are attached to the grant and are yet to be et, the income is recognised as a liabilty and included on the balance sheet as Qeferred income to be released. Defeffed income Deferred Income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when: The donor specifies thal the grant or donation musl only be used in fLtlure accounting periods.. or The donor has imposed conditions which must be met before the charity has unconditional entitlement. Investmenl income Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. Expenditure All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All cos15 are allocated to the applicable expenditure heading that aggregote similar costs to that category. Where costs cannot be dirertly attributed lo particular headings they have been allocated on a basis consistent with the se of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Rai&ng funds These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds. Page 17
Age UK South Cumbri8 Ltd known as Age UK South Cumbria (formerly Age UK South Lakeland) Notes to the Financial Statements for the Year Ended 31 March 2025 Charitabki activItS Charitable expenditure comprises those costs incurred by the charity in the delivery of its activitie5 and services for ils beneficiaries. It includes both costs that can be allocaled directly to such activities and those costs of an indirect nature necessary to support them. Gtsntprowslons Provisions for grants are made when the intention lo make a grant has been communicated lo the recipient but there is uncertainty about either the timing of the grant or Ihe amounl of grant payable. Support costs Support costs include central functions and have been allocated lo activity cost categoiies on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. Governance costs These include the costs atttibutable to the charity's compliance with constltutional and statutory requirement5. including audit. strategic management and trustees, meetings and reimbursed expenses. Taxation The charity is considered lo pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore il meets the definition of a charitable company for UK corporation lax purposes. Accordingly, the charity is potent1211y exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Sectio 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Intangible assets Intangible assets are stated in the Balance Sheet at cost less accumulated amortisation and impaiment. They are amorlsed on a straigm Ilne b8sls over thelr estimated useful lives. Tangible fixed assets Indlvidual fixed assets C0sng £250.00 or more are initlally recorded at cost. Amortisation Amortisation is provided on intangible fixed assets so as to wrlte off the cost, less any estimated residual value, over their expected useful economic life as follows.. Asset class Software platfoms AmortiS8tion method and rate 10% Straight line DepciatIon and amortisation Depreciation is provided on tangible fixed assets so as to write off the cosl or valuation, less any estimated residual value, over their expecled usefijl economic life as follows-. Page 18
Age UK South Cumbria Ltd known as Age UK South Cumbria (formerly Age UK South Lakeland) Notes to the Financial Ststernents for the Year Ended 31 March 2025 Asset class Land and buildings Leasehold property Fixtures, fittings and equipment Motor vehicles Depreciation melhod and rate 2% straight line Straight line over the life of the lease Over 3- 5 years straight line Over 3- 5 years straight line Impairment of fixed assets Intangible and tangible fixed assets are reviewed for impairment when changes in circumstances or events indicate that the carrying value of the fixed assets may not be recoverable. An impairment loss is recognised where the recoverable zmount is less than the carying value. Research and devetopment Development expenditure incurred ON an individual project is carried forward when its future recoverability can reasonably be regarded as assured. Any expenditure carried forward is amort15ed i line with the expected future income from the related project. Fixed asset investments Fixed asset investments, other than programme related investments. are included at markel value at the balance sheet date. Realised gains and losses on investments are calculated as ihe difference between sales proceeds and their market value at the start of the year, or their sijbsequent cost, and 8re charged or creditèd to the Statement of Financial Activities in the period of disposal. Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end. Stock Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stocks. Cost is determined using the first-in, firsl-out IFIFOI method. Trade debtors Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors 8re recognlsed 8t the transaction prlce. A provision for the impairment of trade debtors Is establlshed when there is objective evidence that the charity will not be able lo collect all amounts due according lo the original temis of Ihe receivables. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Page 19
Age UK South Cumbria Ltd known as Age UK South Cumbria (formerly Age UK South Lakeland) Notes to the Financi81 Ststements for the Year Ended 31 March 2025 Trade Creditors Trade creditors are obligatlons lo pay for goods or servlces that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional rigm, at the end of the reporting period, to defer setuemenl of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlemeni for at least twelve months after the reporting date, they are presented as non-current Trade creditots are recognised at the transaction price. Borrowings Interest-bearing borrowings are initially recorded at fair value, nel of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference beeen the proceeds, net of transaction costs, and the amount due on redemption being recognised as charge to the Statement of Financial Activities over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest melhod and is included in interest payable and similar chErges. Borrowings are classified as current liabilities unle55 the charity hBs an uncorbdition81 right to defer settlement of the liability for at least twelve months after the reporting date. Foreign exchange Transactions in foreign currencies are recorded at the rale of exchange al the date of the transaction. Monetary assets and li8bilities denominated in foreign currencies at the balance sheet date are reported at the rates of exchange prevailing al that date. The results of overseas operations are translated at the average rates of exchange during the period and their balance sheets at Ihe rates ruling al the balance sheet date. Exchange differences arising on translation of the opening net assets and results of overseas operations are reported in other comprohensive income and accumul£ted in equity (attributed to non-controlling interests as appropriate). Other exchange differences are recognlsed in the Statement of Financial Activities in the period in which they arise excepl for. 11 exchange differences on transactions entered into to hedge certain foreign currerw risks (see 21 exchange differences arising on gain5 or 105ses on nonamonet3ry items which are recognised in other comprehensive income; and 31 in the case of the consolidated financial statements, exchange ditterences on monetary items receivable from or payable to a foreign operation for which settlement is neither planned nor likely to occur {therefore forming part of the nel investment in the foreign operalionl, which are recognised in other comprehensive income and reported under equity. Page 20
Age UK South Cumbria Ltd known as Age UK Soulh Cumbria (formerly Age UK South Lakeland) Notes to the Financial Statements for the Year Ended 31 March 2025 Fund stnjcture Unrestricted income funds are general funds that are available for use at the twstees, discretion in furtherance of the objectives of the group. Restricted income funds are those donated for use in a parttcular area or for specific pUoses, the use of which is restricted lo that area or purpose. Pensions and other post retirement obligations The pension costs charged in the financial statements represent the contribution payable by the charity during the year. Financial inslruments Classification Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument. Financial liabilities and equity instruments are dassified according to the substsnce of the contractual arrangements entered inlo. An equity instrument is any contract that evidences a residual Interest In the assets of the charity after deducting all of ils liabilities. Recogn11n andmeasUrenn1 All financial assets and liabilities are inilially measured at trans8Ction price {including transaction costs), except for those finÉncial assets classified as at fair value through profil or loss, which are initially measured al fair value (which is normally the transaclion price excluding transaction costs), unless the arrangement constitutes 8 financing transaction. If an arrangement constitutes 8 financing transaction. the financial asset or financial liability is measured al the present value of the future payments discounl8d at a madiet rate ol interest for a similar debt instrument. Flnancial assets and liabilities are only offset in the slatemenl of firbancial position when, and only when there exists a legally enforceable right 10 Set off the recognised arnounts and the charity intends either lo settle on a net basis, or to realise the asset and settle the liability simultaneously. Financial assets are derecognised when and only when al the contractual rights to the cash flows from the financi81 asset expire or are settled, bl the charity transfers to another paty substsntially all of the risks and rewards of ownership of the financial asset, or cl the charity. despite having retained some, but not als, significant risks and rewards of ownership. has transferred control of the asset to another party. Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires. Page 21
Age UK South Cumbria Ltd known as Age UK South Cumbria (fomierly Age UK South Lakeland) Notes to the Financial Statements for the Year Ended 31 March 2025 Invesinpents Investments in non-convertible preference shares and non-puttable ordinary or preference shares {where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measured reliably, investments are measured at cost less impairment. Investments in subsidiaries and associates are measured at cost less imp8irment. For investments in subsidiaries acquired for cor)sideration including the issue of shares qualifying for merger relief, cost is measured by reference to the nominal value of the shares issued plus fair value of other consideration. Any premium is ignored. F8ir v81ue me8surnnent The best evidence of fair value is a quoted price for an identical assel in an active marf(et. When quoted prices are unavailable, the price of a recent transaction for an identic81 asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. 11 the market is not active and recent transactions of an identical asset on their own are not a good estimate of fair value, the fair value is estimated by using a valuation technique. Page 22
Age UK South Cumbria Ltd known as Age UK South Cumbria (formerly Age UK South Lakeland) Notes to the Financial Statements for the Year Ended 31 March 2025 3 Income from donations and legacies Unrestrlcted nds General Total 2025 Total 2024 Donations and legacies- Donations from individuals Legacies Gift ald reclaimed Grants, including capital grants- Donations from community groups 11,928 1,515 148 11,928 1,515 148 12,513 19,820 259 22,477 22,477 20,005 36,068 36,068 52,597 4 Income from charitable activities Unrestricted funds Designated Restricted funds Total 2025 W&CF Money Advice Fund Big Lottery Reconnecting Cumbria WinterWarmlh- CCF grants Building Resilience Cost of living response fund Age UK Bereavement Support Money Really Malters - Indpendent Age Age UK More Money for You Energy Saving Trust Eleclricity North West CCF Fibrus Fund Eric Wright Trust EON Warm Homes Plus Age UK Supwrt Seryices 33,717 63,210 63,000 38,750 7,355 18,360 19,783 31,339 10,211 12,290 2,000 36,000 35,439 33,717 63,210 63,000 38,750 7,355 18,360 19,783 31,339 10,211 12,290 2,000 36,000 35,439 12,500 12,500 12,500 371,454 383,954 Page 23
Age UK South Cumbria Ltd known as Age UK South Cumbria (formerly Age UK South Lakeland) Notes to the Financial Statements for the Year Ended 31 March 2025 Unr8stricted funds General Restricted funds Total 2024 Big Lottery Reconnecting Cumbria Winter Warmth - CCF grants Building Resilience Adult Community Mental Health CCC Public Health &Kial Engagement Cost of living response fund Money Really Matters - Indpendent Age ASDA Foundation Eric Wright Trust EON Warm Homes Plus Age UK Support Services Agnes Backhouse Charwtable Trust Bereavement Support Grant 41,891 100,980 36,000 73.963 10,000 32,063 19,784 400 30,000 29,815 41,891 100,980 36,000 73,963 10,000 32,063 19,784 400 30,000 29,815 10,000 15,000 33,000 432,896 10,000 15,000 33,000 422,896 10,000 5 Income from other trading aclivilies Unrestricted funds General Total fund8 Total 2024 Trading income,. Shop income from sale of donated goods and setvices Sales of goods and services Other trading income 1,470,996 46,455 3,433 1,470,996 46,455 3,433 1,476,778 48,054 3,348 1,520.884 1,520.884 1,528.180 Page 24
Age UK South Cumbria Ltd known as Age UK South Cumbria (formerly Age UK South Lakeland) Notes to the Financial Statements for the Year Ended 31 March 2025 6 Investment InMe Unrestricted funds General Total 2025 Totsl 2024 Interest receivable and similar income., Interest receivable on bank deposits Other income from fixed asset investments 3,466 3,466 31,640 35,106 11,697 11,697 7 Other income Unrestrtctsd funds General Totsl 2025 Busine55 interuption insurence 25,614 25,614 8 Expenditure on raising funds a) Costs of ldIng actlvltfies Unrestrfct funds Total 2025 Total 2024 General Note Staff Costs Costs of goods sold Events and conferences Property rentsl income costs Marketing and publicity Depreciation, amortisation and other similar costs Other direct costs of activities lor generating funds Allocated support costs 723,761 42,827 723,761 42,827 634,217 47,899 1,080 254,167 355 245.795 245,795 24,098 24,098 22,633 76.191 11.385 76,191 11,385 89,653 11,119 1,061 123 10 1 124057 1,124,057 Page 25
Age UK South Cumbria Ltd known as Age UK South Cumbria (formerly Age UK South Lakeland) Notes to the Financial Ststements for Ihe Year Ended 31 March 2025 b) Investment management costs Unreslricted funds General Total 2025 Note Other Investment management costs., Amounts payable to investmenl managers 9,108 9,108 9,108 9,108 Unrestricted funds General Total 2024 Other investm8nt management costs,. Amounts payable t() investment managers 5.841 5,841 5,841 5,841 cl Olher costs of generating donations and legacies Unrestricted funds General Total 2025 Note Allocated support costs 11,385 11,385 Unrestricied funds General Totsl 2024 Note Allocated support costs 11,119 Allocate(I support costs 11,119 Totsl 2025 Dlrecl costs Costs of Ir8dlng acllvhles Investment management costs Other cosls of generating funds 1,077,189 9,108 35,483 1,112,672 9,108 11.385 11,385 1,086,297 46,868 1 133,165 Page 26
Age UK South Cumbria Ltd known as Age UK South Cumbria (formerly Age UK South Lakeland) Notes to the Financial Statements for the Year Ended 31 March 2025 Allocated support costs Total 2024 Direct costs Costs of generating donations and legacies Costs of trading activities Investment management costs Other Costs of generating funds 23 1,018,423 5,841 23 1,050,004 5,841 11,119 31,581 11,119 1024 287 1 066 987 9 Expendilure on charitable activities Unrestricted funds General Restricted funds Totsl 2025 Community Action Team Grants distributed Govemance costs Freehold revaluation 363,764 296,948 103,860 660,712 103,860 32,741 55,720 853,033 32,741 55,720 452,225 Unrestricted funds General Restricted funds Total 2024 c0munity Action Te8m Grants distributed Govemance costs Intangibles written to nil 384,924 306,721 65,111 691,645 65,111 35,882 92,985 885,623 35,882 92,985 513791 371,832 Activity undertaken directly Activity support costs 2025 Community Action Team Grants distributed Govemance Freehold revaluation 282,125 103,860 378,587 660,712 103,860 32,741 55,720 32,741 55,720 385,985 467,048 853,033 Page 27
Age UK South Cumbria Ltd known as Age UK South Cumbria (formerly Age UK South Lakeland) Notes to the Financial Statements for the Year Ended 31 March 2025 ActNity undertaken direclly Activity support costs 2024 Community Action Team Grants dislributsd Governance Intangibles written to nil 354,781 65,111 336,864 691.645 65,111 35.882 92,985 35,882 92,985 512,877 372,746 885,623 In addition to the expenditure an8lysed above, there are also govemance costs of £32,741 12024 £35,332) which relate directly to charitable activities. See note 10 for further details. 10 Analysis of governance and support costs Govemance costs Unrestricied funds General Total 2025 Stsff costs Wages and salaries Social security costs Pension costs Other staff costs Audit fee5 Auéil of the fln8nclal statements Other fees paid lo auditors Legal fees Other govemance costs Allocaled support costs 12,178 1,012 479 19 12,178 1.012 479 19 4,850 5,299 65 1,302 7,537 4.850 5,299 65 1,302 7,537 32,741 32.741 Unrestricted funds Gene1 Total 2024 Staff costs Wages and salaries Social secltrity costs Pension costs Other staff costs 12,294 856 445 22 12,294 856 445 22 Page 28
Age UK South Cumbria Ltd known as Age UK South Cumbria (formerfy Age UK South Lakeland) Notes to the Financial Statements for the Year Ended 31 March 2025 Unrestricied funds General Totsl 2024 Audit fees Audit of the financial statements Other fees paid lo euditors Legal fees Other governance costs Allocated support costs 4,620 4,214 93 5,444 7,344 4,620 4,214 93 5,444 7,344 35,332 35,332 11 Not incomingloutgoing resources Net incoming resour$ for the year include.. 2025 2024 Audit fees Impairment loss on disposal of fixed assets held for the charitls own use 4,850 4,620 55,720 49,347 92,985 54,701 Depreciation of fixed assets 12 Trustees remuneration and expenses During the year the charity made the following tr8risactions with trustees.. P Leahy £402 {2024'. £Nil) of expenses were reimbursed to P Leahy during the year. B J Mccann £362 (2024.. £481 of expenses were reimbursed to B J Mccann during the year. C M Twist £580 (2024". £2601 of expenses were reimbursed to C M Twist during the year. No trustees, rK)r any persons connected with Ihem, have received any remuneration from the charity during the year. No trustees have refjVed any other benefits from the charity during the year. 13 Stsff costs The aggregate payroll costs were es follows.. Page 29
Age UK South Cumbria Ltd known as Age UK South Cumbria (formerly Age UK South Lakeland) Notes to the Financial Ststements for the Year Ended 31 March 2025 2025 2024 Stsff costs during ihe year were.. Wages and salaries Social security costs Pension costs Other staff costs 1,068,656 68,775 38,198 970,062 63.425 34,578 1,178,324 1,102,585 The monthly average number of persons (including senior management I leadership team) 8mployed by the charity during the year expressed as full time equivalenls was as follows-. 2025 No 2024 No Operdtions and specialist services Organisalional support Irkcome generation and retsil 33 32 50 50 Durlng the year. the charlty made redundancy andlor tem)Inailon payments whlch iotalled £NII12024 - £28,000). Last year the trustees made ex-gralia payments totalling £28.000 to two members of the senior management team on their retirement to reflect the fact that they worf(ed beYod their notice period. No employee received emoluments of more than £60,000 during the year. The tolal employee benefits of the key management personnel of the charity were £214,565 12024 - £245,731). 14 Auditors. remuneration 2025 2024 Audit of the financial ststements 4,850 4,620 Other fees to auditors Audit-related assurance service5 Taxation compliance services All other non-audit services 3,650 740 909 3,465 480 269 Page 30
Age UK South Cumbria Ltd known 8s Age UK South Cumbria (formerly Age UK South Lakeland) Notes to the Financial Statements for the Year Ended 31 March 2025 15 Taxation The charity is a registered charity and is therefore exempt from taxation. 16 Intanglble fixed assets Soknre development Totsl Cost Al 1 April 2024 Additions Disposals 246,830 44,800 142,174 246,830 44,800 142,174 At 31 March 2025 149,456 149,456 Amortisalion At 1 April 2024 Charge for the year Eliminated on disposals At 31 March 2025 246,830 4,480 142.174 246,830 4,480 142,174 109,136 109,136 Net book value At 31 March 2025 40,320 40,320 At 31 March 2024 17 Tangible fixed assets Land and buildings Furniture and equipment Motor vehicles Totsl Cost At 1 April 2024 Additions 635,454 293,703 21,012 25.100 954,257 21,012 At 31 March 2025 635,454 314.715 25,100 975,269 Depreclation At 1 April 2D24 Charge for the year At 31 March 2025 246,883 74,929 266,516 21,539 12,740 4,120 526,139 100,588 321.812 288,055 16,860 626,727 Net book value At 31 March 2025 313.642 26.660 8,240 348,542 Page 31
Age UK South Cumbria Ltd known as Age UK South Cumbria (fomierty Age UK South Lakeland) Notes to the Financial Statements for the Year Ended 31 March 2025 Land and buildings Fumiture and 8quipment Molor vehicles Total At 31 March 2024 388 571 428118 Included within the nel book value of land and buildings above Is £305,000 12024 - £370,740) In respect ot freehold land and buildings and £8,64212024- £17,831) in respect of leaseholds. Revaluation The fair value of the company's Land and buildings was revalued on 23 August 2024 by Edwln Thompson LLP, Chartered Surveyors, an independenl valuer. The valuation was done lo determine the market value of the freehold property. Had this class of asset been measured on a historical cost basis, their carrying arnnt would have been £360,720 {2024 - £370,740). 18 Fixed asset investmeftts 2025 2024 Other investments 624.581 597 825 Other Investments Llsted investments Unllsted investments Total Cost or Valuation Ai 1 April 2024 Revaluation Additions Disposals 564,705 5,849 92.358 59.457 33,120 597,825 5,849 172,721 151,814 80,363 92,357 At 31 March 2025 603,455 21,126 624,581 Net book value Ai 31 March 2025 603,455 21,126 624,581 At 31 March 2024 564.705 33,120 597,825 Unlisted investmenls con7prise cash held as part of Ihe portfolio. Page 32
Age UK South Cumbria Ltd known as Age UK South Cumbria (formerly Age UK South Lakeland) Notes to the Financial Ststemenls for the Year Ended 31 March 2025 19 Stock 2025 2024 Finished good5 18.747 23,684 20 Debtors 2025 2024 Trade debtors Due from group undertakings Prepayments VAT recoverable 18,420 22,864 1,505 42,632 12,981 79.982 53,488 15,323 87,231 The charity was notified of two legacies before the year which were not received by the year end. In each case the likely amount to be received has been diffieuK to identity due to the terms of the wills and the number of other charities involved. It is estimated that the amounts involved msy be 8foLtnd £39,000 and £2,000. 21 Cash and c8sh equivalents 2025 2024 Cash on hznd Cash at bank Short-term deposits 1,276 208,184 170,365 379,825 1,252 356,426 357,678 22 Creditors: 8mounts falling due within one year 2025 2024 Trade creditors Resources held on behalf of third parties Other taxation and soci81 security Other creditors Accruals Deferred income 27,941 19,894 19,711 4,272 14,930 12,290 99,038 40,583 14,784 {3281 12,600 40,717 108,356 Page 33
Age UK South Cumbria Ltd known as Age UK South Cumbria (fomierfy Age UK South Lakeland) Notes lo the Financial Statements for the Ye8r Ended 31 March 2025 2025 2024 Deferred income at 1 April 2024 Resources deferred in the pertod Amounts released from previous periods 40,717 12,290 40.717 25,000 40,717 25.000 Deferred income at year end 40,717 Funds manage(1 for third Pae$ The charity also managed the funds for Reconnecting Cumbri8 ill the year, receiving and distributing £171,877 (2024 - £224,466) in the year. 23 Obligations under leases and hire purchase contracts Operating lease commilmenis Totsl future minimum lease payments under non-cancellable operating leases are as follows= 2025 2024 Land and buildings Within one year Between one and five years Afterflve years 191,240 284,188 102,812 199,620 216,975 86.625 578,240 Other Within one year Between one and five years After five year5 5,780 5.189 746 8,939 11.715 8,939 24 Penston and other schemes Defined contribution penslon scheme The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £38.198 {2024 £34,578). Page 34
Age UK South Cumbria Ltd known as Age UK South Cumbria (formerly Age UK South Lakeland) Notes to the Financial Statements for the Year Ended 31 March 2025 25 Funds Balance Balan Other at31 at 1 April Incoming Resources recognised March 2024 resources expend Transfersgainsl(losses) 2025 Unrestricted funds General General funds 373,613 1,630,172 11,480,322) 1230,5401 5,849 298,772 Deswnated Fixed asset fijnd G&neral core reseNe Planned investment in services 428,118 400,000 1105,068) 65,812 161.000 388,862 561,000 100,451 928,569 104,179 105,068 1,054,041 Total unrestricted funds 1302 182 1630 172 11585 390 5 849 1352 813 Restricted funds Building Resilience E ON Warm Homes plus Big Lottery Reconnecting Cumbria Eric Wright Trust W&FC Money Advice Fund Cumbria Community Foundation Winter Warmth Agnes Backhouse Charltable Trust Age UK More Money for You Bereavoment Support Grant Cost of living response fund Money Really M8tters- Indpendent Age Energy Saving Trust CCF Fibrus Fund Ambleside Masonic Lodge Electricity North West 38,750 35,439 130,164) 135,439) 8,586 63,210 36,000 163,210) 130.000) 6,000 33,717 133,717) 45,010 63,000 (99,0651 16,403 14,654) 11,749 31,339 123.767) 7,572 12,209 18,360 (30,5691 7,355 17,355) 2,986 19,783 10,211 2.000 122,7691 15,668) 12,000) 1141) 12,290 4,543 141 12,290 Page 35
Age UK South Cumbria Ltd known as Age UK South Cumbria (formerly Age UK South Lakeland) Notes to the Financial Statements for the Year Ended 31 March 2025 Balance B818nce Other ai31 at 1 Aprll Incoming Resources recognised March 2024 resources expended Tr8nsfersgainsl(losses) 2025 Total restrlcted funds 76 749 371454 400,808 47,395 Total funds 1,378,931 2,001,626 {1,986,198 5,849 1,400,208 Balance Balance Other at31 at 1 April Incoming Resources recognised March 2023 sources expended Transfersgainsl(lossesl 2024 Unrestricted funds Genero1 General funds 153,266 1,602,474 (1,432,542) 12,450 37,965 373,613 Design8ted Flxed asset fund General core reseNe P18nned investment in seNices Provision for upgrade ot IT and telephone systems 548,799 400.000 (147,686) 27.005 428,118 400,000 49,906 50,545 100,451 90,000 90,000 1,088.705 147 686 12,450 928,569 Total unrestricted funds 1241 971 1,602,474 11,580,228 37,965 1,302,182 Restricted Building Resilience CCC Public Health Social Engagement E ON Warm Homes plus Big Lottery ReconneCng Cumbria Adult Community Mental Health Eric Wright Trust Cumbria Community Foundation Winter Wam)Ih Agnes Backhouse Charitable Trust Bereavement Support Grant Poverty Reduction Funding 36.000 136,000) 10,000 29,815 110,000) 129.815) 41,891 141.891) 73,963 30,000 173,963) 130,000) 1,140 100,980 157,110) 45,010 9,090 15,000 17,687) 16.403 10,000 33,000 130.791) 12.209 5,000 (5,000) Page 36
Age UK South Cumbria Ltd known as Age UK South Cumbria (formerly Age UK South Lakeland) Notes to the Financial Statements for the Year Ended 31 March 2025 Balanc8 Balance Other 8t31 at 1 April Incoming Resources recognised March 2023 resources expettded Transfersgalnslllossesl 2024 ASDA Foundatlon Cost of living response fund Money Really Matters - Indpendent Age Ambleside Masonic Lodge 41X) 1400) 32,063 (32,063) 19,784 (16,798) 314 2,986 141 455 Totsl restricte(i funds 25,685 422,896 371,832 76,749 Totsl funds 1.267,656 2,025,370 11952,060 37,965 1,378,931 The specific purposes for which the funds are to be applied are as follows.. Cumbria Community Foundation Winter Wamith Grants.. The partner organisation will distribute grants on behalf of Cumbria Community Foundation to individuals to alleviate winter related hardship across South Lake18nd. Age UK E.On Benefits take up.. E.on Warm Homes Programme - Benefit Entltlement Checks Age UK E.On Home Energy Checks.. E.on Wgrm Homes Programme - Home Energy Checks Rayne Foundation, The Eric Wright Trusi, Age UK - No Place Like Home, Big Lottery Community Fund- Compass Connections= Expanding Compass outside Cumbria and development of Compass. Cumbria County Council - Souih Lakeland local team Falls Prevention Work: To deliver falls prevention awareness in the community Age UK- Think Digital.. To deliver digital awareness and support Big Lottery Community Fund Slaying Connected.. To purchase 18Ptops,tablets engagement Arn1 Forces Covenant Fund Veterans Should Not be Forgotlen.. To dellver Compass work specifically to veterans of the Armed Forces lo support digital 26 Analysis of nel assets betsveen funds Toial funds at 31 March 2025 Unrestrlcted funds General Designated Restricted funds Intangible fixed assets Tangible fixed assets Fixed asset investrments Current assets Current liabilities 40,320 348,542 561.000 104,179 40,320 348,542 624.581 485,803 99,038 63,581 334,229 99,038 47,395 Total net assets 298,772 1,054,041 47,395 1,400,208 Page 37
Age UK South Cumbria Ltd known as Age UK South Cumbria (formerly Age UK Soulh Lakeland) Notes to the Financial Statements for the Year Ended 31 March 2025 Total fund5 at 31 M8r 2024 Unrestricted funds General Designated Restricled funds Tangible fixed assets Fixed asset investments Current assets Current liabilities 428.118 500.451 428,118 597,825 461,344 108,356 97,374 384,595 108,356 76,749 Totsl nel assets 373,613 928.569 76,749 1,378,931 27 Relatsd party transaclions There were no related paty transactions in the year. Page 38