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2024-03-31-accounts

Registered number: 07517777 Charity number: 1142414

AGE WELL EAST LIMITED

(A company limited by guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

AGE WELL EAST LIMITED (A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the charity, its Trustees and advisers 1
Trustees' report 2 - 10
Independent auditors' report on the financial statements 11 - 14
Statement of financial activities 15
Balance sheet 16
Statement of cash flows 17
Notes to the financial statements 18 - 38

AGE WELL EAST LIMITED (A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024

Trustees C J Andrews
N W J Avery, Chair
C N Bennett
E A Bloomfield
A Georgeson (resigned 24 September 2024)
V M Loaiza (resigned 1 August 2023)
E L L McCullagh (appointed 2 May 2023)
A K Sheppard (resigned 1 August 2023)
T P B Singh
S White
J A Wiggins, Treasurer (resigned 24 September 2024)
Company registered
number
07517777
Charity registered
number
1142414
Registered office
63 North Hill
Colchester
Essex
CO1 1PX
Company secretary
C J Andrews
Chief executive officer
T Harrison
Independent auditors
Griffin Chapman
Statutory Auditor and Chartered Accountants
4 & 5 The Cedars, Apex 12
Old Ipswich Road
Colchester
Essex
CO7 7QR
Bankers
The Co-Operative Bank Plc
PO Box 250
Skelmersdale
WN8 6WT

Page 1

AGE WELL EAST LIMITED (A company limited by guarantee)

TRUSTEES’ REPORT FOR THE YEAR ENDING 31 MARCH 2024

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Public benefit:

In setting objectives, developing strategies, and undertaking activities the Trustees have given careful consideration to the Charity Commission's general guidance on public benefit.

Vision

To be the go-to place for people to feel connected, informed, and included as they grow older.

Mission

To support and empower people to age well.

Values

Trust, Excellence, Community.

ACHIEVEMENT AND PERFORMANCE

Annual overview

The last 12 months have been challenging for all charities due to the economic climate and the reduction in NHS and Local Authority funding. We have also had to contend with the reduction in funding opportunities from other traditional sources including Trusts and Foundations.

The impact of the financial challenges and the increased demand for our services led us to review our cost base whilst diversifying our income streams to ensure greater control of Age Well Easts’ financial position in the short, medium, and long term.

This year saw our Fundraising initiatives expand and develop; we introduced the corporate element to the Christmas appeal whereby local businesses supported Age Well East by way of sponsorship, this was a huge success and raised £2,350 in unrestricted income.

We also successfully completed our very own AWE-SUM fundraising event, where staff, along with friends and family undertook a range of fundraising activities to raise vital funds for Age Well East, these activities included sky diving, half marathons and bake sales and thanks to the generosity of our community, the sum of £7,456 was raised.

We were honoured to be selected as ‘Charity of the Season’ by a local restaurant, which organised several fundraising activities with all proceeds benefiting Age Well East and a very generous donation made. It also raised our profile within the community and shone a spotlight on our services.

As outlined in our marketing strategy, we successfully enhanced brand awareness through collaborative efforts with clients, volunteers, and staff. This initiative has culminated in the creation of a new general video for Age Well East, which effectively narrates our story, and showcases the services we provide.

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AGE WELL EAST LIMITED (A company limited by guarantee)

TRUSTEES’ REPORT FOR THE YEAR ENDING 31 MARCH 2024

We continue to share client feedback and case studies, where permission has been provided, across our social media platforms, providing real-time insights into the impact of our services and by sharing these experiences, we hope to resonate with individuals who may be facing similar challenges, raising awareness of Age Well East and Illustrating the range of support we offer, encouraging those in need to reach out to us.

Age Well East continues to source funding from recognised and traditional sources and work collaboratively with a range of stakeholders. This approach has helped to secure two new contracts offering mental wellbeing care and support for carers, which will be delivered in 2024/25.

In addition, we achieved “One to Watch” status a “Good company to work for” with Best Companies and retained our accreditation for ISO9001 and ISO27001.

We could not operate without the support provided by our team, encapsulated in our 1Team ethos which includes our dedicated volunteers, staff and Trustees.

This year our Team have delivered the following:

Welfare and Advice Service

Age Well East’s Advice and Welfare service covered three complementary teams providing assistance with needs arising for advice matters, dementia support and information and mental wellbeing needs. The focus on supporting client welfare provides the link between each, seeking to provide early intervention and the prevention of escalating need towards more acute services.

Our Advice work through this time assisted people in later years across Northeast Essex to increase their collective annual incomes by £1.7m through access to welfare benefits and entitlements. This was an increase of 22% on the previous year. Overall client numbers accessing the service grew by 4% to 858 and case numbers were also up by 5% to 1176. Referrals to the service through this time continued to highlight difficulties relating to ill health and long-term disability and Caseworkers worked hard to support clients to access entitlements and assistance with housing and care issues to support their ability to age well, living independently for as long as possible in their communities.

The largest themes of activity focused on assistance with Attendance Allowance applications (422), blue badge disabled parking permits (297) and benefits checks (209).

Dementia Services

Our Dementia work expanded considerably through 2023/24 with support, information and advice provided on a 1-1 basis across the community, assistance to support improved wellbeing for patients affected by the symptoms of sundowning whilst in Colchester general hospital and information and advice for patients recently diagnosed with Dementia. These projects enabled us to work closer with ESNEFT (East Suffolk, Northeast Essex Foundation Trust) and EPUT (Essex Partnership University Trust) to deliver interventions and support for people across Northeast Essex in community, acute general hospital, and mental health settings.

Our overall client activity through this year grew by around 92% to 415 cases for assistance. A key aspect of this growth in our work was the delivery of structured assessments of dementia for clients making claims for blue badge disabled parking permits with the team handling 92 such requests, an increase of 116% on the previous year. At this stage we remain the only voluntary sector organisation authorised to provide this service across Northeast Essex enabling members of the community to receive both this assistance and separately help to complete associated digital application form through our Advice team.

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AGE WELL EAST LIMITED (A company limited by guarantee)

TRUSTEES’ REPORT FOR THE YEAR ENDING 31 MARCH 2024

The experience, understanding and knowledge enabled us to successfully chair the dementia friendly community groups and as a result we supported 10 organisations to develop their own plans to develop their activities in more inclusive ways to meet the needs of people living with or affected by Dementia.

Bereavement and End of Life

The Bereavement service continues to offer one-on-one volunteer support, along with two online support groups, two walking groups, and recently launched 2 in-person support groups across North East Essex.

During 2023/24, the service supported a total of 112 clients.

We have also strengthened our partnerships with local bereavement services. Our Bereavement Coordinators have been nominated for Compassionate Community Champion status in recognition of their outstanding work.

In 2023/24, our Compassionate Companion volunteers provided comfort and companionship to 7 individuals in the final months of their lives. We are also developing a one-to-one support service for those at the end of life. This initiative, which will be provided by an EOL Coordinator, will offer sensitive and therapeutic guidance on important topics such as talking about death, Lasting Power of Attorney, Advance Decisions/Care Plans, ReSPECT forms, funeral planning, and religious considerations.

Mental Wellbeing

Our Mental Wellbeing service remained busy through the period of 2023/24 assisting people with complex wellbeing needs, often exacerbated by delays in accessing local therapeutic services. Our Coordinator worked hard to support people experiencing mental health crises, referring to more acute services and providing emotional support and advice with issues relating to challenging caring roles pain management, delays in access to elective surgery, anxiety, and depression. Many of the 50 people referred to the service experienced mental health difficulties as an impact of the Covid 19 pandemic and in 30 cases focus was given to identifying ways to support improved mental wellbeing to prevent crisis in the future.

The learning taken from client feedback and themes of support enabled the service to identify ways of strengthening the impact of our support, identifying needs and opportunities for clients to feedback their experiences of mental wellbeing and of services they have received. Towards the end of the year these ideas provided the basis for a funding bid to extend and develop the activities provided through this service which was subsequently successfully awarded to enable service delivery through 2024/25.

The success of our approach in providing welfare and assistance to people in later years and their families enabled Age Well East to shape a successful funding bid to extend our assistance for unpaid carers in later years. This grant funding through the Essex County Council Community Carers fund has enabled us to develop a service to complement the client focused work we deliver to enable more holistic working and to support the main delivery of unpaid carers services across Essex from 2024.

We extend thanks to all our funders who have supported the delivery of our Advice and Welfare services through 2023/24 as without this our work would not be possible.

Groups and Activities

In 2023/24, 765 groups and clubs were held at our community space called the Veranda, with a total of 6,894 attendees.

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AGE WELL EAST LIMITED (A company limited by guarantee)

TRUSTEES’ REPORT FOR THE YEAR ENDING 31 MARCH 2024

We offer a wide range of weekly community groups at the Veranda, including Knit & Natter, Art Club, Crafting, Dementia Support, Games Club, and Tai Chi, as well as Coffee & Company and a Lunch Club. Additionally, we host a monthly legal clinic and a technical support drop-in service.

We currently support 4 volunteer led, dementia friendly, external groups, which take place in Brightlingsea, Mersea Road, Stanway and Witham.

Befriending

In 2023/24, the befriending service had 265 active volunteers, with 103 newly on-boarded during the year.

The service received an average of 83 referrals per month, many of whom were homebound. In response to the growing demand, three online social groups were introduced: the Evening Friendship Group, Crafts & Laughs, and a Book Club. These groups have attracted 115 attendees, alongside a weekly in-person friendship group in Thurrock.

A total of 272 clients received befriender companionship, with 84 successfully transitioning to community groups and clubs.

Beyond reducing loneliness and isolation, the team also enhances clients' overall wellbeing by completing external referrals. Through initial assessments and ongoing conversations, the team has made 356 referrals to external agencies such as social services, Essex Fire Rescue Services, Hearing Help Essex, mental health services, community agents, and EWS stop smoking. These efforts have improved clients' safety and wellbeing.

FINANCIAL REVIEW

Financial position

Age Well East has been through a financially challenging period due to the current economic climate, with the reduction in available funding opportunities. We were fortunate and grateful to our Donors and Partners to start the period with a good amount of secured funding that had been awarded in previous periods, this ensured we were able to rise to the increase in demand for our services.

In the period under review 2023/2024 income totalled £1,034,473 reflecting a decrease on the previous year of 23%.

Over the period our expenses totalled £1,173,389 which included above inflation pay awards to accommodate the impact of increases in the minimum wage. To enable services to be delivered to meet the increase in demand, costs where possible were rightsized and efficiencies made which resulted in a 2.6% year on year decrease in expenditure.

Overall the net deficit for the year was (£138,916). During 2023/24 restricted reserves bought forwards of £107,330 were utilised on projects during this year as planned’ .

Investment policy and objectives

There are no funds available for long term investment due to the nature of the charities current and projected cashflows. Our objective is to proactively seek and develop diverse funding sources.

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AGE WELL EAST LIMITED (A company limited by guarantee)

TRUSTEES’ REPORT FOR THE YEAR ENDING 31 MARCH 2024

Reserves Policy

In developing Age Well East’s Reserves Policy, Trustees have considered the following:

The nature of our funds

Income Streams

Our analysis based on the above suggests that Age Well East needs a medium-to-high level of free reserves.

Considering the current financial position of the charity, and the analysis cited above, the Board has decided that Age Well East should hold free reserves sufficient to wind up the charity at a minimum, and aim for one month’s operating costs, plus redundancy costs and £10k contingency. The calculation methodology will allow for yearly inflationary movements.

In meeting service user needs trustees acknowledge that there may be times during the year when the actual level of reserves is below the desired level, this will be identified by monthly financial reporting and that actions will be taken by management and trustees to return reserves to the desired level as soon as possible.

Going Concern

The trustees have assessed the ability of the Charity to continue as a going concern. The assessment considers the risks and uncertainties that could impact on the ability of the Charity to continue as a going concern for at least the 12-month period from approval of the financial statements.

In reaching their conclusions, trustees have reviewed draft budgets, formal forecasts, cash flow and reserves forecasts, contingency plans, and availability and liquidity of assets. The forecast has been extended beyond the minimum 12-month period required for the going concern evaluation, to March 2026. Critical to the achievement of this forecast is the ability of the Charity to identify new sources of funding and have taken a prudent approach to the likelihood of success in each element of the funding pipeline.

Going concern – key risks and uncertainties

Following cost cutting measures undertaken during 2024, the majority of costs are payroll costs which are largely predictable. However there is now very little scope for any further reduction in core costs. The chief uncertainty and risk is around the Charity’s estimate of the value of new sources of income. We have used a risk based model to make this estimate which we believe to be prudent, however it must be recognised that there remains a risk of insufficient income to support the charity as a going concern.

Going concern – conclusions

The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern. The trustees have a reasonable expectation that the Charity has sufficient resources and reserves to continue in operational existence for at least 12 months from the approval of the financial statements, and therefore the going concern basis is adopted in the financial statements.

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AGE WELL EAST LIMITED (A company limited by guarantee)

TRUSTEES’ REPORT FOR THE YEAR ENDING 31 MARCH 2024

ACKNOWLEDGEMENTS

The Board of Trustees would like to record its thanks to all the generous donors who have supported our work through the financial year.

With special thanks to:

Anne Rylands Programmes Alliance EOL (St Helena Hospice) Asda Foundation B&Q Foundation Brentwood Borough Council Brightlingsea and District Rotary Club CCG Frailty Strengthening Advice CCG Partnership IAPT Charles S French Charitable Trust Colchester City Council Colchester Borough Homes CVS Tendring Dixie Rose Findlay Charitable Trust Elise Pilkington Trust Essex Alliance Essex Community Foundation Essex County Council Francis Winham Foundation Garfield Weston Foundation John Walter Wynne Lord Belstead Charitable Trust Masonic Charitable Foundation Matchroom Foundation MSE Charity National Lottery Community Fund National Lottery Jubilee Fund Nationwide Building Society NHS Suffolk and North East Essex ICB Oak Foundation Our Colchester Business Improvement District Provide CIC Rachel Margaret Hills Charitable Trust Rank Foundation Screwfix Foundation Sir Jules Thorne Charitable Trust Stanway Parish Council The Harebell Centenary Fund Thurrock District Council Truemark Trust Tudor Trust Walter Farthing Trust

Many individuals remember us in their will or in memory of loved ones. Their generosity benefits others across Essex and we are glad to express our gratitude but do not name the donors.

We also receive many regular donations. Without the generosity of so many people, Age Well East would not be able to achieve the level of services that we currently provide, especially to those experiencing isolation, loneliness, and poverty.

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AGE WELL EAST LIMITED (A company limited by guarantee)

TRUSTEES’ REPORT FOR THE YEAR ENDING 31 MARCH 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

Structure and governance.

Age Well East is a registered charity and is incorporated as a company limited by guarantee. The activities are governed by a Memorandum and Articles of Association 1 February 2011, as amended 9 May 2012, 14 April 2016, 30 October 2018, 29 August 2019, 31st December 2019, and 21 September 2021.

Trustees and organisational structure

The members of the Board of Trustees are the Trustees of the charity and are also the directors of the company for company law purposes. Trustees are elected at the Annual General Meeting of the company for a period of three years from the date of their election. They are eligible for re-election after that period, except that the Chair may serve for a maximum of six consecutive years. The board may co-opt Trustees during the year, to serve until the conclusion of the next Annual General Meeting.

The Trustees have complied with their duty to have due regard to the guidance on public benefit published by the charity commission in exercising their powers or duties. The Board of Trustees administers the charity and meets every three months. A Finance, Audit, Risk and Governance Sub Committee (FARG) and an Operations Sub-Committee meet every 3 months and report to the Board on any risks or major delivery issues.

A Chief Executive Officer is appointed by the Trustees to manage the day-to-day operations of the charity, and a Senior Leadership Team is in place.

Induction and training of new trustees

Those wishing to become a trustee of Age Well East meet in the first instance with the Chair of the Board.

The prospective Trustee would then be formally interviewed by a minimum of two Age Well East Trustees and the Chief Executive, who make their recommendations to the Board of Trustees.

If the Board of Trustees agrees to appoint the prospective Trustee, he or she would be invited to attend a Board meeting and if all parties are in agreement the Board, then elects or co-elects until the annual general meeting.

All new Trustees meet with the Chair of the Board and the Chief executive Officer once officially appointed. In addition they offered time with each of the senior managers in order to gain a better understanding of the operational side of the charity.

Arrangements for setting pay and remuneration for key management

All job roles within Age Well East are benchmarked against the same or similar roles within the charity sector. This ensures that true and fair is provided, Age Well East remain competitive within the sector and are able to retain and recruit the best candidates for all roles. Trustee’s set and approve pay for senior management.

Risk management

The risk matrix is held by and reviewed at every Finance, Audit and Risk Trustee Committee and all major risks are escalated and reviewed at the main Board of Trustees meeting quarterly. The Board can confirm the required risk processes and systems have been put in place to enable effective management and reporting.

2024 - 2027 objectives

To ensure the medium- and long-term sustainability of Age Well East the Team have devised and developed a three-year strategy covering all business-critical aspects of the operation and financial management of the charity.

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AGE WELL EAST LIMITED (A company limited by guarantee)

TRUSTEES’ REPORT FOR THE YEAR ENDING 31 MARCH 2024

The Age Well East 2024/27 strategy is driven by our Vision, Mission, and Values which are encompassed in the strategic goals as follows:

Team

Our “One Team” philosophy is to establish a structured individual career development path which empowers staff, fosters confidence and a sense of Community, in turn, cultivating engagement within our whole organisation.

By creating a culture of Trust, inclusivity, belonging and empowerment, we aim to instil a sense of personal value and investment in every team member, motivating them to become Excellent in their roles and contribute to our collective success.

This will be validated by the achievement of World Class status via the Best Companies accreditation.

Services

This strategy offers an alternative paradigm for the services and support provided by Age Well East. This new paradigm shift is based on a different set of beliefs encapsulated within the Human Learning Systems. (HLS)

Age Well East’s interpretation of and approach to the HLS in overview is as follows:

We will actively develop service user reference groups to support and bring enhanced validation to our work and development. This would involve reference groups to consult on organisational development , service user trustee roles, service user representation within interview panels and ambassadorial roles.

Communication

Internal: By 2027 the “Everyone is an ambassador” culture is living and breathing within the organisation.

External: By 2027 we will be utilising our existing resources and leveraging Trustee networks to actively raise awareness consistently and effectively.

By empowering Trustees to take a more active role and leveraging existing data for informed decisionmaking, we aim to identify, address, and promote the needs of our services effectively.

Additionally, we will strive to forge new connections and cultivate Ambassadors for our organisation to expand our reach and impact.

Finance

By proactively seeking diverse funding sources and avoiding reliance solely on external funding, we aim to maintain control over our budget and operations thus ensuring stability and flexibility in achieving our organisational goals.

We will have secured funding on a long-term rolling basis, minimising the likelihood of gaps and redundancies, while exploring alternative streams that provide us with budgetary autonomy.

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AGE WELL EAST LIMITED (A company limited by guarantee)

TRUSTEES’ REPORT FOR THE YEAR ENDING 31 MARCH 2024

2027 annual targets and breakdown

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Age Well East Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

AUDITORS

The auditors, Griffin Chapman will be proposed for re-appointment at the forthcoming Annual General Meeting.

Approved by order of the board of trustees on ................................ and signed on its behalf by:

........................................................................ N W J Avery - Trustee

Page 10

AGE WELL EAST LIMITED (A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF AGE WELL EAST LIMITED

Opinion

We have audited the financial statements of Age Well East Limited (the 'charity') for the year ended 31 March 2024 which comprise the Statement of financial activities, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

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AGE WELL EAST LIMITED (A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF AGE WELL EAST LIMITED (CONTINUED)

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditors' report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 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 knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

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AGE WELL EAST LIMITED (A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF AGE WELL EAST LIMITED (CONTINUED)

Responsibilities of trustees

As explained more fully in the Trustees' responsibilities statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company's 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 charitable company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory requirements applicable to the charitable company and considered that the most significant are the Companies Act 2006, UK financial reporting standards as issued by the Financial Reporting Council and UK taxation legislation.

We obtained an understanding of how the charitable company complies with these requirements by discussions with management and those charged with governance.

We assessed the risk of material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it might occur, by holding discussions with management and those charged with governance. We assessed the managements own identification processes and assessment of risks, to ensure internal procedures and controls would help mitigate and identify such issues.

We reviewed and tested the appropriateness of journals and other adjustments, assessed areas where judgement had been used and tested significant transactions for the appropriateness of the accounting treatment.

We enquire of management and those charged with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations. We reviewed legal correspondence and Trustee meeting minutes to identify any matters of fraud or non-compliance.

Based on this understanding, we designed specific appropriate audit procedures to identify instances of noncompliance with laws and regulations. This included making enquiries of management and those charged with governance and obtaining additional corroborative evidence as required.

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AGE WELL EAST LIMITED (A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF AGE WELL EAST LIMITED (CONTINUED)

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with 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-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Thomas Maddocks FCA FMAAT (Senior statutory auditor)

for and on behalf of Griffin Chapman Statutory Auditor and Chartered Accountants 4 & 5 The Cedars, Apex 12 Old Ipswich Road Colchester Essex CO7 7QR

Date:

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AGE WELL EAST LIMITED (A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024

Note
Income from:
Donations and legacies
4
Charitable activities
5
Investments
7
Total income
Expenditure on:
Raising funds
8
Charitable activities
9
Total expenditure
Net (expenditure)/income
Transfers between funds
19
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Restricted
funds
2024
£
-
950,265
-
950,265
404
1,013,364
1,013,768
(63,503)
(19,008)
(82,511)
117,660
(82,511)
35,149		 Unrestricted
funds
2024
£
50,983
27,647
5,578
84,208
6,090
153,531
159,621
(75,413)
19,008
(56,405)
157,182
(56,405)
100,777		 Total
funds
2024
£
50,983
977,912
5,578
1,034,473
6,494
1,166,895
1,173,389
(138,916)
-
(138,916)
274,842
(138,916)
135,926		 Total
funds
2023
£
38,988
1,286,856
2,044
1,327,888
10,365
1,198,717
1,209,082
118,806
-
118,806
156,036
118,806
274,842

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 18 to 38 form part of these financial statements.

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(A company limited by guarantee) REGISTERED NUMBER: 07517777

AGE WELL EAST LIMITED

BALANCE SHEET AS AT 31 MARCH 2024

Note
Fixed assets
Intangible assets
14
Tangible assets
15
Current assets
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within one
year
17
Net current assets
Total assets less current liabilities
Net assets excluding pension asset
Total net assets
Charity funds
Restricted funds
19
Unrestricted funds
19
Total funds		 58,232
184,058
242,290
(144,546)		 2024
£
5,485
32,697
38,182
97,744
135,926
135,926
135,926
35,149
100,777
135,926		 68,584
673,441
742,025
(520,126)		 2023
£
-
52,943
52,943
221,899
274,842
274,842
274,842
117,660
157,182
274,842

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees on _______ and signed on their behalf by:

................................................

N W J Avery

The notes on pages 18 to 38 form part of these financial statements.

Page 16

AGE WELL EAST LIMITED (A company limited by guarantee)

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024

Cash flows from operating activities
Net cash used in operating activities
Cash flows from investing activities
Interest received
Purchase of tangible fixed assets
Net cash used in investing activities
Cash flows from financing activities
Net cash provided by financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
The notes on pages 18 to 38 form part of these financial statements		 2024
£
(487,555)
5,578
(7,406)
(1,828)
-
(489,383)
673,441
184,058		 2023
£
(181,504)
2,044
(25,010)
(22,966)
-
(204,470)
877,911
673,441

Page 17

AGE WELL EAST LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. General information

Age Well East Limited is a company limited by guarantee, registered in England and Wales, registration number 07517777. The address of the registered office is 63 North Hill, Colchester, Essex, CO1 1PX. It is also a registered charity, registration number 1142414. Further details are included in the Trustee's Report.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Age Well East Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

Page 18

AGE WELL EAST LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2. Accounting policies (continued)

2.2 Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the charity, can be reliably measured.

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Voluntary income is received by way of grants and donations and is included in full when receivable.

Gift Aid recoveries on donations from individuals are recognised in the same period as the donation.

Donated services are included at the value to the charity where this can be quantified, and where they have been supplied by local businesses in the course of their normal activities. The value of services provided by volunteers has not been included in these financial statements.

Page 19

AGE WELL EAST LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2. Accounting policies (continued)

2.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

2.4 Allocation and apportionment of costs

Direct costs are allocated against the activities as incurred. Other costs have been apportioned over the activities inline with time spent on those activities by employees in supporting roles.

2.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.6 Intangible assets and amortisation

Intangible assets are capitalised and recognised when future economic benefits are probable, and the cost or value of the asset can be measured reliably.

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Amortisation is provided on intangible assets at rates calculated to write off the cost of each asset on a straight-line basis over its expected useful life.

Amortisation is provided on the following basis:

Intangible assets - 25 % Straight line

Page 20

AGE WELL EAST LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2. Accounting policies (continued)

2.7 Tangible fixed assets and depreciation

Tangible fixed assets are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following basis:

Plant and machinery - 25% Straight line
Fixtures and fittings - 15% Reducing balance
Property improvements - Over the period of the lease

2.8 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.9 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.10 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

2.11 Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Page 21

AGE WELL EAST LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2. Accounting policies (continued)

2.12 Pensions

The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.

2.13 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

3. Critical accounting estimates and areas of judgment

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. There are no estimates and assumptions that are considered to have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

4. Income from donations and legacies

Unrestricted
funds
2024
£
Donations
50,369
Legacies
614
50,983
Total 2023
38,988		 Total
funds
2024
£
50,369
614
50,983
38,988		 Total
funds
2023
£
30,202
8,786
38,988

Page 22

AGE WELL EAST LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

5. Income from charitable activities

Income from charitable activities - Grants
Income from charitable activities - Contracts
Income from charitable activities - Cafe
Total 2023		 Restricted
funds
2024
Unrestricted
funds
2024
£
£
658,485
10,238
291,780
-
-
17,409
950,265
27,647
1,270,199
16,657		 Total
funds
2024
£
668,723
291,780
17,409
977,912
1,286,856		 Total
funds
2023
£
974,885
295,314
16,657
1,286,856

6. Income from other trading activities

7. Investment income

Unrestricted
funds
2024
£
Interest received
5,578
Total 2023
2,044		 Total
funds
2024
£
5,578
2,044		 Total
funds
2023
£
2,044

Page 23

AGE WELL EAST LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

8. Expenditure on raising funds

Costs of raising voluntary income

Restricted
funds
2024
£
Finance costs
404
Total 2023
238
Other trading expenses
Unrestricted
funds
2024
£
Cafe expenses
6,090
Total 2023
10,127		 Total
funds
2024
£
404
238
Total
funds
2024
£
6,090
10,127		 Total
funds
2023
£
238
Total
funds
2023
£
10,127

9. Analysis of expenditure on charitable activities Summary by fund type

Activity costs
Total 2023		 Restricted
funds
2024
Unrestricted
funds
2024
£
£
1,013,364
153,531
1,198,717
-		 Total
2024
£
1,166,895
1,198,717		 Total
2023
£
1,198,717

Page 24

AGE WELL EAST LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

10. Analysis of expenditure by activities

Management, fundraising and support
services
Total 2023		 Direct
costs
2024
£
728,987
721,847		 Support
costs
2024
£
437,908
476,870		 Total
funds
2024
£
1,166,895
1,198,717		 Total
funds
2023
£
1,198,717

Analysis of direct costs

Staff costs
Depreciation
Rent & premises costs
Running costs
Travel expenses
Professional fees
Subcontractors
Insurance
Advertising & Marketing
Total 2023		 Direct
activity
costs
2024
£
566,352
14,643
25,494
22,765
16,836
7,287
62,290
9,816
3,504
728,987
721,847		 Total
funds
2024
£
566,352
14,643
25,494
22,765
16,836
7,287
62,290
9,816
3,504
728,987
721,847		 Total
funds
2023
£
552,076
18,989
31,067
32,202
12,900
35,890
27,500
8,820
2,403
721,847

Page 25

AGE WELL EAST LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

10. Analysis of expenditure by activities (continued)

Analysis of support costs

Support
activity
costs
2024
£
Staff costs
327,567
Depreciation
7,524
Travel expenses
189
Professional fees
-
Bank charges
-
Office costs and IT
63,593
Training and HR costs
31,690
Governance costs
7,345
437,908
Total 2023
476,870
11.
Auditors' remuneration
Fees payable to the charity's auditor for the audit of the charity's annual
accounts
Fees payable to the charity's auditor in respect of:
All non-audit services not included above		 Total
funds
2024
£
327,567
7,524
189
-
-
63,593
31,690
7,345
437,908
476,870
2024
£
4,500
750		 Total
funds
2023
£
367,114
-
677
1,819
395
57,113
43,528
6,224
476,870
2023
£
5,500
725

Page 26

AGE WELL EAST LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

12. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2024
£
812,688
57,540
23,691
893,919		 2023
£
835,674
56,999
26,517
919,190

Included within the above are contractual redundancy payments totalling under £5,000 made during the year.

The average number of persons employed by the charity during the year was as follows:

2024 2023
No. No.
Employees 40 44

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

2024 2023
No. No.
In the band £60,001 - £70,000 2 -
In the band £70,001 - £80,000 - 1

The key management personnel of the charity comprise the trustees and the senior management team. The amount of employee benefits (including employer pension contributions) received by key management personnel for their services to the charity were £261,581 (2023 : £194,474).

13. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2023 - £NIL) .

During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £NIL) .

Page 27

AGE WELL EAST LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
14.
Intangible assets
Cost
Additions
At 31 March 2024
Amortisation
Charge for the year
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023		 Intangible
Assets
£
5,808
5,808
323
323
5,485
-

Page 28

AGE WELL EAST LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

15. Tangible fixed assets

Cost or valuation
At 1 April 2023
Additions
At 31 March 2024
Depreciation
At 1 April 2023
Charge for the year
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023
Debtors
Due within one year
Trade debtors
Other debtors
Prepayments and accrued income		 Improvements
to property
£
38,799
-
38,799
21,142
6,638
27,780
11,019
17,657		 Plant and
machinery
£
90,396
984
91,380
57,573
14,365
71,938
19,442
32,823		 Fixtures and
fittings
£
8,914
614
9,528
6,451
841
7,292
2,236
2,463
2024
£
24,315
818
33,099
58,232		 Total
£
138,109
1,598
139,707
85,166
21,844
107,010
32,697
52,943
2023
£
24,610
875
43,099
68,584

16. Debtors

Page 29

AGE WELL EAST LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

17. Creditors: Amounts falling due within one year

Trade creditors
Other creditors
Accruals and deferred income		 2024
£
14,942
22,487
107,117
144,546		 2023
£
28,308
36,163
455,655
520,126

18. Financial instruments

Financial assets
Financial assets measured at fair value through income and expenditure
Financial liabilities
Other financial liabilities measured at fair value through income and
expenditure		 2024
£
25,133
2024
£
37,429		 2023
£
25,485
2023
£
64,471

Financial assets measured at fair value through income and expenditure and comprise debtors and sundry debtors.

Financial liabilities measured at fair value through income and expenditure comprise trade creditors and other creditors.

Page 30

AGE WELL EAST LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

19. Statement of funds

Statement of funds - current year

Unrestricted funds
General Funds - all funds
Restricted funds
Communities
Building
Alliance End of Life
Armed Forces Covenant
Tudor Trust
CCG - Dementia
CCG - Fraility
CCG - Partnership
Essex Wellbeing Service
Garfield Weston
Government and Local
Authorities
MSE
Nationwide
Other trusts and foundations
Suffolk & NE Essex ICB
Sundowning
National Lottery Community
Fund - Reaching Communities
National Lottery - Platinum
Jubilee Fund
Masonic Charitable Foundation
The Hareball Centenary Fund
Thurrock BC Befriending
VCSE Data Matas
Total of funds		 Balance at 1
April 2023
£
157,182
849
4,663
952
879
1,646
915
16,901
1,758
-
-
11,818
-
-
52,830
15,921
681
1,000
6,847
-
-
-
117,660
274,842		 Income
£
84,208
-
-
9,239
-
35,000
-
8,750
300,439
291,780
30,000
29,454
4,994
12,405
10,000
16,913
76,365
21,480
21,667
10,000
52,771
19,008
950,265
1,034,473		 Expenditure
£
(159,621)
-
-
(9,867)
(439)
(36,646)
(784)
(25,651)
(301,318)
(291,780)
(30,000)
(40,146)
(4,994)
(12,405)
(36,093)
(32,834)
(77,046)
(22,480)
(28,514)
(10,000)
(52,771)
-
(1,013,768)
(1,173,389)		 Transfers
in/out
£
19,008
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(19,008)
(19,008)
-		 Balance at 31
March 2024
£
100,777
849
4,663
324
440
-
131
-
879
-
-
1,126
-
-
26,737
-
-
-
-
-
-
-
35,149
135,926

Page 31

AGE WELL EAST LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

19. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
General Funds - all funds
Restricted funds
CEO fund
Communities
Building
Veranda
Emotional Support
Alliance End of Life
Armed Forces Covenant
Tudor Trust
Catalyst
CCG - Dementia
CCG - Fraility
CCG - Partnership
ECC-Bereavement
ECC-COMF
Government & Local
Authorities
NHS
Trusts and Foundations
Essex Well Being
Suffolk & NE Essex ICB
Sundowning
ECC - Cost of living
Thurrock BC Befriending
National Lottery - Platinum
Jubilee Fund
National Lottery - Community
Fund Reaching Communities
Masonic Charitable Foundation		 Balance at
1 April 2022
£
145,705
-
935
8,834
561
1
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Income
£
141,264
-
-
-
-
-
952
33,532
36,381
31,513
915
26,250
299,561
90,000
1,051
34,405
21,069
129,589
295,314
19,583
32,191
52,265
27,507
44,546
10,000		 Expenditure
£
(129,162)
(261)
(86)
(4,168)
(563)
(366)
-
(32,653)
(34,735)
(31,513)
-
(9,349)
(297,803)
(90,000)
-
(23,637)
(20,869)
(75,959)
(295,314)
(3,663)
(32,191)
(52,265)
(27,507)
(43,865)
(3,153)		 Transfers
in/out
£
(625)
261
-
(3)
2
365
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Balance at
31 March
2023
£
157,182
-
849
4,663
-
-
952
879
1,646
-
915
16,901
1,758
-
1,051
10,768
200
53,630
-
15,920
-
-
-
681
6,847

Page 32

AGE WELL EAST LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

19. Statement of funds (continued)

Statement of funds - prior year (continued)

Balance at
Balance at Transfers 31 March
1 April 2022 Income Expenditure in/out 2023
£ £ £ £ £
10,331 1,186,624 (1,079,920) 625 117,660
Total of funds 156,036 1,327,888 (1,209,082) - 274,842
Summary of funds
Summary of funds - current year
Balance at 1 Transfers Balance at 31
April 2023 Income Expenditure in/out March 2024
£ £ £ £ £
General funds 157,182 84,208 (159,621) 19,008 100,777
Restricted funds 117,660 950,265 (1,013,768) (19,008) 35,149
274,842 1,034,473 (1,173,389) - 135,926
Summary of funds - prior year
Balance at
Balance at Transfers 31 March
1 April 2022 Income Expenditure in/out 2023
£ £ £ £ £
General funds 145,705 141,264 (129,162) (625) 157,182
Restricted funds 10,331 1,186,624 (1,079,920) 625 117,660
156,036 1,327,888 (1,209,082) - 274,842

20. Summary of funds

Page 33

AGE WELL EAST LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

21. Analysis of net assets between funds

Analysis of net assets between funds - current period

Tangible fixed assets
Intangible fixed assets
Current assets
Creditors due within one year
Difference
Total		 Restricted
funds
2024
Unrestricted
funds
2024
£
£
12,767
19,930
-
5,485
132,400
109,890
(104,394)
(40,152)
(5,624)
5,624
35,149
100,777		 Total
funds
2024
£
32,697
5,485
242,290
(144,546)
-
135,926

Analysis of net assets between funds - prior period

Tangible fixed assets
Current assets
Creditors due within one year
Total		 Restricted
funds
2023
£
30,944
582,228
(495,512)
117,660		 Unrestricted
funds
2023
£
21,999
159,797
(24,614)
157,182		 Total
funds
2023
£
52,943
742,025
(520,126)
274,842

Page 34

AGE WELL EAST LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

21. Analysis of net assets between funds (continued)

The amounts shown in the previous note which are carried forward relate to expenditure which will take place after the year-end in accordance with the terms and conditions of the grants.

The funding received is given for the various activities of the charity. The restricted grants are awarded for specific purposes and therefore expended in accordance with the terms and conditions of the award and per the timeline specified by the funder.

Funding for the year to 31 March 2024 has been received for the purposes as follows:

Alliance End of Life - In collaboration with St Helena Hospice, this funding enables us to train and support a dedicated team of qualified volunteers to provide end-of life support as Compassionate Companions, for individuals who had no one to support them at their end-of life.

Tudor Trust - this three year grant has helped us further develop our Emotional Support services and provide a range of services to people during emotionally challenging times. Including End of life support, one to one bereavement support and group bereavement support. We have made an immediate, practical, and long-lasting positive impact on the lives of those who need our support. Reducing pressure on acute services through concentrated, targeted emotional support.

CCG Partnership - is an ongoing collaborative partnership with EPUT, ESNEFT and CCG to provide holistic mental wellbeing support for an increasing number of people in later years experiencing mental health issues for the first time. This funding enables us to provide dedicated telephone and one-to-one early intervention support within the community and make referrals towards appropriate clinical services to reduce new presentations to impact emergency services and escalations in mental declines towards acute inpatient services.

Governments and Local Authorities - Various smaller grants were received from the Government and Local Authorities to support the delivery of our core services.

Trusts and Foundations - Various smaller grants were received from the Government and Local Authorities to support the delivery of our core services.

Essex Well Being Contract - this is a 5 year contract to offer community friendship services to anyone in Essex who is over 18, with the aim to end loneliness. They provide one to one volunteer friendship (Befriending), pen friending and access to social groups and activities to empower people to live well.

Suffolk & NE Essex ICB Sundowning - This grant is funding a pilot scheme allowing two Age Well East dementia co-ordinators covering two wards each at Colchester Hospital, four wards in total for 56 hours per week providing a person centred approach to wellbeing and a supported mental and physical activity program to decrease anxiety and reduce triggers. This scheme ended early during the year due to differing objectives to Colchester hospital.

Thurrock BC Befriending - this grant enables Age Well East to Offer a befriending service to Thurrock Borough residents who are lonely and possibly suffering isolation from the community. Support includes face to face visits in the home, community companions and weekly telephone calls.

National Lottery Platinum Jubilee Fund - Age Well East were able to mark the significant National moment of the Queens Platinum Jubilee, we hosted community celebrations, creative workshops and legacy building activities to bring our diverse Northeast Essex communities together.

National Lottery Community Fund Reaching Communities - This grant supports our advice service to help remove financial burdens for people and avert declining physical and mental health. It provides the

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AGE WELL EAST LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

21. Analysis of net assets between funds (continued)

means to maintain independence and prevent longer-term and more acute decline through timely advice and accurate completion of lengthy complex forms for income/health related entitlements. We aim to empower people towards increased levels of self-managing their circumstances, through coaching with digital-forms and processes, through to accessing the things which enable people to sustain independent living, such as home help and funding available to pay for it.

Masonic Charitable Foundation - This grant enables Age Well East to offer holistic advice and welfare support to those aged 60+ who are socially disadvantaged and/or living with long term health conditions and disbilities, experiencing hardships that obstruct social connection and community engagement.

Garfield Weston Foundation - this grant is to support the central team salary costs for our core support services, fundraising and to grow and improve the IT infrastructure and digital communications.

Nationwide Building Society - this grant is to support the delivery of core welfare and advice services in the local community.

The Hareball Centenary Fund - this grant is to support the delivery of core welfare and advice services in the local community.

VCSE Data Matas - this grant was for updating IT systems, databases and data security, the grant was not fully utilised during the previous year so a proportion was provided to be returned. It was determind that this was not required and the balance of funds could be allocatted against other projects of a similar nature.

22. Reconciliation of net movement in funds to net cash flow from operating activities

Net income/expenditure for the period (as per Statement of Financial
Activities)
Adjustments for:
Depreciation charges
Amortisation charges
Interest received
Decrease in debtors
Decrease in creditors
Net cash used in operating activities		 2024
£
(138,916)
21,844
323
(5,578)
10,352
(375,580)
(487,555)		 2023
£
118,806
18,989
-
(2,044)
131,192
(448,447)
(181,504)

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AGE WELL EAST LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

23. Analysis of cash and cash equivalents

Cash in hand
Total cash and cash equivalents
Analysis of changes in net debt
Cash at bank and in hand		 At 1 April
2023
£
673,441
673,441		 2024
£
184,058
184,058
Cash flows
£
(489,383)
(489,383)		 2023
£
673,441
673,441
At 31 March
2024
£
184,058
184,058

24. Analysis of changes in net debt

25. Pension commitments

The charitable company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charitable company in an independently administered fund. The pension cost charge represents contributions payable by the charitable company to the fund and amounted to £23,691 (2023 - £26,517) at the year end £3,559 (2023- £3,348) were outstanding, payable to the fund and are included in creditors.

26. Operating lease commitments

At 31 March 2024 the charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:

2024 2023
£ £
Not later than 1 year 6,000 12,000

27. Members' liability

Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £1 for the debts and liabilities contracted before he/she ceases to be a member.

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AGE WELL EAST LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

28. Related party transactions

During the year the charity received £nil grants (2023 : £834) from donors whose trustees include a trustee of Age Well East Ltd.

The charity leases its premises at 63 North Hill from a trustee. The rent paid in the year was £12,000 (2023 : £12,000).

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