Age UK Dorchester Flnancial SLthments for th• Year Ended 30 March 2022 Reference and Adminstrative Details Trustre$ and Dlrectovs Mr N Bundy MrNJHyde Mrs J House Mrs J Matthews Mrs C NaUghn Mrs S Joyce Mr C Keen Chi•f Ex•euliv• and coMty Se¢vetry Mr D Th¢xp {Resigned 5th Swember 2022) Mrs T Lew$ (Started 5th September 20221 Prin¢ipal oific• and Roglsl•red Offiu. Units 1&2 5 Crown Sqr Poundbury DT1 3EN Charity Trading Ilam• Age UK North. Souih, West t)orset Extemal Examlners Darkii Mlr Lwniied 24e Deverd Road Charlton Dofchester Do¥sel DT2 9UD B•nk•rs CAF Bank Limited 25 King$ Hill Avenue lfjThp Hi West Malling Kent ME194JQ *ABV47. 1310112023 COMPANIES HOUSE A14
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Age UK D(rthe$ler TN$lee De¢lors' Report For the Year Ended 30 March 2022 The Twstees are also the direth for the purFose of company law) are Fleased to present their annual reF<srt and finanual ststements for the period ended 30 March 2022. The proVisS of the statement of Recommended Pra1.ACCQUftting aThJ Rem)rting by Chanties. ISORP FRS 102- inylemenled 1 January 2015) have been adopted in prepwirg the arnual pOrt and financial slatgftwnts of the crIty. STRUCTURE. GOVERNANCE AND MANAGEMENT Governlng Do¢um•nt aTrd C¢)nsutt0n Age UK Dorthester Ltd is a registered charity. tharity nunthr 1142519. and a CnY knmrted by guarantee. company 07614504. The carty's wistered office 1$ Unils 182, 5 Crowm Square, Poundbury, Oor5et, DT1 3EN. The maxinum10"1ty of each rrerrber is limrted to £1. At 30 March 2022. tre coMY had 6 nEnkners. 6 of ve also the charws TNstee Director Age UK Dorchester is govemed by ib VenK)randLm and ofA$sociatn. Age UK Dorcl•r woted as a cunpffj mited by grantee on 26 Awil 2011. The Trustees also the Diredofs ofthe nnY for the purposes of company law. The Trustee 8oarf must nSist of * least three Trustees. Trustees are appointed for terns of 3 years and at the end of Ihe 3 years may offer themselves for re-election by the 1berS of Age UK Dorchester if they ish to do so in accordano the ConvanS Alts"C of Assou"ation. In aj"0n. the Tnjstees may trom time to Iwne appoint any MeMr as a TNstee to ejlher fill a casual vxancy or add to their number. No other petsons or bods exlemal to the charity are entitled to appoirrt persons to the TnJstee Board. The follofjng peoFle re Trustees of the charity duriry the peri¢xl ar#J since the period end: Mr N 8undy Mr N D Grassby MrNJHyde Mrs J House Mrs J Malthew5 Mrs C Naughton Mrs S Joyce Mr C Keenan (Chair) Rewd 13 Jarw 2022 Induction of Tru5te•s Ne%Y appointed Tru$tees are FVIded ilh an IndIon to UK DorGhester arKI are mentored by established Trustees as necessary. Responsibilrty for strategy. Fth"w. governan aj review tses UK Oor¢heslerfs tTUStee5 also ad as direthrs of the cornpany). The tsustees meet every ftnths. in order to undertake these n)Yes. lrylerrntsb"on of slrategy arKI polry. a5 as daY-tdaY nJnniny of the charity was ddegated to the chÈf execJJts"ve officer. vkno. aloThJ rnembers of stsff and neaty 200 volunteers, SUred that the ser¥Ths provthd rW the lS Oftt older population n the service The key m?nagement personnel lor the oryanisalw)n s the Chief Exeartive Olfi¢er. The salary ve1 was set a Tevie•¥ of simtsr sEed Age UKS in Ihe in 2021. SirKe then the Chtef ExecJJlive Crfficer has receNed txst of li¥w inueages contertth the rest of the slaff gwp. Age UK Dorchester i1S 40% of a Irathng subgthary {ith A9e UK Bwmemouth and Age cOnM North Dorset groLPI Age Concem in Dorset Ltd. This trading Company was domwt during 2021r22. Page 2
Ag• UK Dh$Ier Twstee th'rectcrfs, Rert For tr Year Ended 30 Marth 2022 Age UK Dorchester also ovms 50% Iwth Age UK BJrneUlh. Poole East Dorset) of a second trading subsidiary, Age UK t)orset Enterprises Ltd, %thich was incorporated as a private limited company on 10 Marth 2016. ThÉs ¢panY the cunmisgoned SeCe for Cognitive StinvJlation Therapy aTrJ the contracl comrnenced on the 1st 2021 for 3 yeaf5 an Opt to extsnd fty to an additional peri¢xl on 1 year. Risk Managem•nt The may risk5 to charity is exposed ha been iderthfied and reviethed by the trustees, and procedures established to manage these ii5ks. Risk marragement procdures are set in Krtemal pothcy and prO(Ure d(KUFFntknn. The (anty maintains approwiate levels of inyJranc, and routin re¥ivhs fffjan(¥al hIlh in onjer to ensure the on.gong prlSion of its chantable obJectr4es. Invosknont Management The charty invested £250.000 in a COIF investm1 fund in 2018119. OBJECTIVES AND ACTMTIES The purpose of the drty and the objects forth it is eSIab.shed. and to it is specihcally restrthd, a$ set out in the Meanrn of AsS1)n are lo proThe ts fo11n9 pUr)SeS for the benefit of the PiC andlor older people in WKI arDund Dorset: . ryeventing or lin9 the poverty of okjer people. advanong ecmjcation, preventing or reln9 sickness, dlse or sufferrg in okler Fwjle {thether emots.0r1, mental or physical). omoliro equalrty and dtveiwty. ' promotirKJ Ihe huffAn rwJhts ololder WlFle aC[darKelIh the Lkneal Declaration of Humart Rsghts. assislirg older people in need by reason 01 ill health, dtsthlty. final hardship. exdusicffl or other disadvantage. and . such ¢)trer tharitable wrp)ses forthe benefft of okler Feople as thè Trlee$ may from time to decide. The outcoff of this beiry Ihe proKlon ofthe elbeing ofohler pee. Summary of charitab Activilie5 Age UK Dorchester delivered a diverse edUcatial and ueats've progranyne during the peric¥J in the Jrtheran¢x of its ChanIab obJe¢tNes. Full ¢Jetails of the chartable a¢b"wbes are set out in more detail under the Ac1events arvj Perfoffl heading bekFw. Public B•n•fft Ttte Twstees have pavj due regard to the Charity Coffrfniswon'$ ldan on puNic tenefft in decKling the activItS undertaken by the chanty during the perJd. The Twstees are satisfied that the informati provbjed in the rep and ac{Unts meets the pukn1 reprytiry requyemerts. The educational and cre8ts.ve cramMe delNefed duriffj the peFiCJ acPweved the chantys puw as set out above for the benefrt of the pubkc. Pap3
Age UK I)or¢tster Tnjstee Directors, Report For the Year ErKlèd 30 March 2022 Ag• UK tk>rclMst•r has tho foll vi¥ion and obp¢tives: North, South and Wesl Dorset is a great Fla lor older peo. they feel valued and can live ith dignity and choice. Where all ser¥ice providers and sLU10ry agerS a seen as helpfijl, suppoitive and cariry. Aim5 To Identrfy. reswnd and asstst okler people in North, South and West Dorset, vkno a in negj by reascfj of ill heallh. disability. financia hardship. social exdusion cr other disaavantsge To build an organi5ation that is influentsal. attractre. val1 armj effe¢tsve to ensure we can enab older people to remain independent and enTr)y lrfe . To help older F¢ople be socaally connect8J thro Ihe de¥ekIWt Of Organisalion vknich" financtally sustainakAe through the acquisrtion of db¥eTse and ethic funding strearr To kyomote the b%ellbeing of okler Feople by te¢onyrwJ a strategic partner of the major statutory, non statutory and VCS organisali0 affecl ts li¥es of older people in North, South and West DSe1 To supp)rt okjer lo Ip4e in their o%fft hor for as l¢)TrJ as they nt aThJ ensurirg thal okjer peoples voKes in North, So(Ah and West DOet VKINKluaty •xl c¢lle(%ty heard and responded lo. The charity's legal purpose {rt5 ociNe) is to womote the relief of okjer people in any manner vthich deemed by law lo be charitable. at the distteknn of Ouftruslees. We lo identsfy the mst 5unificant Issues vknich have an effe& on older peoe'S lIbeIng. and delop vknich feel best rreet these reed$. The reblive pows anted to the organisalion by the COnlIun to athieve Ihis Ide.. To encourage, Ornote and orgarllse direct semces appropnale to Ihe ftets of irK1NwJual ar•J groups of older pewe". . To join in and CcOperate vthh other charilies. voluntary organtIonS and statutory aUltntieS to achieve the above oty'erAi¥e." To promote and carry out re5earc. aThJ . To arrange and w0Ve meeth"rvJs. lethj5. fAasses arnj trainry. In order to achieve the eh8rty$ airrs and 0tr4e(aNe4 rt airr6 to be able to ryovpJe the fdiow"ThJ services across our area of benef Welfare benefits". Informatson ar¥J advi., . A(fvo¢a¢y arKI Ca$evr . Physical 0j enKStional suppyL Wellbwng.. Exercsse.. . Ht)me SuFport . Befriending and xxia1isatic. Handy person IT tuth'on., and CoJnitNe Stlmldan Therapy in conjunL#ion with UK { BouMeffLth. Poole aTrJ Easl Dorset I The charity uses a mixiure of quanblabve and qualbtative evaluati¢ to assess howthell meet our obJ"ectwes. 11 reviews service tak&up regulty. measure 0 aThJ undertake qualty monitoring. It 11. ere affordable pracb"¢bk, ftx$ additional resou on areas 7httere it is known that there is need, and it can delNer posibve outcoThs for older rthpie. The thanty akn take the deasion to stop setmces ffiere the cLJst outrighs Ihe benefft.
Ag• UK l>tt¢hestrr Trustee Directors. Rep(xl For the Year ErKled 30 Math 2022 Aim¥ and Obi•ctiv•s for th• Future Having established a new ¥1%(. val, priorities arJ apkyoved a strategc pk3n. Estate and Finan Strategies the Tvustees are kJokirvJ to ccmtinue delvlery of the key aims aThJ ot4'ecti¥es. HowEver. as ¥th many other tYglsaIS the paThJerrK chged the charthes focus and it moved irrto errErgency response rnJe during the first knck¢JyAn. Workirvj in partnership thilh DoTret Council and other partners the charity delivered a highty valwl response Servi for oldeT people aczoss the Council area. The pandern reqred change5 in 5y5tems, processes. arHI equipment. The charity invested to enable home thi19 al the outset of the panrn. and as a result vras able to lake caljs Ihrougl home4MseJ stsff. The lessons leamed during the panderrdc rove infomwd Trustees on new pnorbbes. rth¥ SeTh needs and nwways of vthirg. With parthership w>fknng at the heart of the dHrilies Vision lhe is Conlviued and substsntial focu$ on developing strategi¢ links across Dorset and more idety. Operational service$ 111 ¢ontbnue lo grow through delivery of a new Business Plan whilst Investhnt in staff V•il ensure an even higher level of professional service is Sustained deliNTring the best semce possib to older Feople in Dorset o need our he. The sale ofourfonner head offtt. R¢)won Ci)ttage. Dorthesterwas Lxryleted on the 24th June 221 aThJ % purchased a new head office at Units 1 & 2. 5 Crown Square, Pounthury on the 11th January 2022. This is a new. environmentalty fnendty head offKe weThwse$ artd wll enable the staff to Drk in more modem. ow pbn and adaptle bdffj9 ugny up to date teclrnlruy. The Tfustees will also continue to Ik10 03den the ¢haiiBs irrre Sour in partiCLdar increase ftJndraing and grant genernled inrne. The thafty IMII continue to raise its profile l¢xalty and ill focus on both tradth.onal and new nthods of conThun¢iLM). Twstees have direrled the developnt ofa new Peryle Strategy tAthich tAill fvrfher the tllbeing of leaThts. ACHIEVEMENTS AND PERFORMANCE What dld we dellver during 2021- 202 er 13,000 record8J enqUirS to Rec4on and Information aThJ Athicet&•n Our volunteer tfritter$ team w0vjed over 7.500 houts of tfrieTrairy . Our Beneffts advisots bfoutht in over£1m of benefts for people We allocaled a direct community resporhse to over 2.300 peopje. It is eskn"mated that ¢)ver 70% of these required multiple visits . independent living team took on ¢wer 400 new dts. providing wth a pery)nalsed seNce airned at transfomng th•r Iwes. . The Cognityve StimuLatiw TrraFry proganlrn is ryUnCl1On W1 Age UK (Boumeffouth, Poo and East Dry%et) Page 5
Agfr UK DorCter Trustee Directo. Rewl For the Year Erthd 30 Marth 2022 T Alle Proffile ofthose supported: by Age Group April 2021-March 22 450 350 250 150 loo Uryfer50 5fy59 nk79 999 I&A users by location 36% The Trustees reCOgnr the invaluable done by ¢)w slaff and *InteerS aemss all the seNi areas.
Age UK tthhestrr TNstee Oirecors' Report For Year Ended 30 M1 2022 SeNic• O•¥•lown•nt Prioriti•s 2021. 2022 Relail The charity operaled 3 slys in Dortheer. Brityrt and vleYnuIh. Afterthe COVKI lockdoN4ns the charty nsIdered the fnances of the shops and found Ihat the redLKlion in foolfall on the High Streets the ino)me had been swJnffjKanty redu. Foot¢aro The chanty opered a nuTh>er of cknKs aL¥055 the Wea Ttsre clients wwld * approxinly 6 Yek intervals to have their nails cut. When the charty was abFe to open up again after the Covid ILKkdos a number of locatiLs that had previ¢)usty been used for dnics { e9 doctors suwes } did not reopen to the chanty aThJ coukj rK)t therefore open our clinics. The nurrw of dients after the The Chief Exe¢Ltlive inrtiated a Recovery operkn.on thich was des$ne(I to ty and irtrease the reta income arKI inrJease Ihe number of fo¢rtca dients. Sadty neithervx)rked and Ihe Board of Twstees had tr> make a decisw regardiry a major restnJ¢Xu of the charty in order to safeguard it for the Jlure. The Chief Exlrtlve PTc¥luced a detsikd report fly the TnBtees retry held on the 9th March 2022 settiThJ QLrt 0[1$. The de¢isickS of Trustees ere.. 1 To dose all retail operalions as they had been Ma.ng bsse$ for nny yea 2 To close foOtre oPerat- ts had a3abn been makirwj k6ses arkl IhvJe no likelitrKwd of an ukrtum in numbers of clienls 3 To close Ctienl Lraison a$ the cod no knger be substantiated 4 To reganIZe the SenKJr Management Team Ihe result that there be one less position. The Dorchester shop lease VAS coming to an end so %fdS not reneed. The BrJFKJrt shop vms dosed artd TerrAined so unlil the break pwiod in the lease The Weymulh shop h•J sonb"me left on the lease until it 8¢ld a break wnt. A decish)n taken to dose the retail aspec but to use the premEes as a'hub. vtsre a nurTthr of organisatior could utilise the space and share the costs. This 3thed and opened as the wey1Thth Infomation Shop in eaty Aprl 2022. As regards foot¢a cl$ taken M by exiskn"w forA¢p staff but wi a pri4Yate capaaty. Cther ¢tients made arran9ements cttwloolrare ¥0¥lets. The resu of the restrucbjring that a numberol staff were FYde redundant after all the offiaal The restructuring deswd tr• sigiyfKanty red the expthbjre forthe tharity tAthilst aL%o recognizing that some inojme Dukl akn be knst butthatthe expdire Srys exceed the loss in income. Sadty. in hindsight arKI one can aVayS be V+ise in hiidsight. rt should have been realized much eartier th the ReVery Operation was not and the restnJcbJfe inits.ated possibly sever rtth$ eadier. This could have saved the charity in excess of £200.000 with the Ult that the operational deficit would not have been as IM9h as it is sho. The charty has contir to opwate the othw services dekn.led in aims aThJ obpctNes ab(Ne and the Trustees are keen to see these exparKI posgbk. During the year charity was successfil in obtaining a number of grants *pre irstwmental in sustsining the of Ihe tharity. Page 7
Ag• UK DN¢hestsr Trustee Directh. Rep1 For the Year Ended 30 March 2022 FINANCIAL REVIEW Financial Position Incoming resourres in the £772,371 (2021: £879.227). Of thi5 £334.189 rded to estn"¢tsd actiwties12021: É413.500). Thwe also an unrealised gain an investrnent of £38,360 {2021.' unrealised gain of £64.$32). The lale0 g•n and buldirbgs recognised in previous years was realised on the disposal of Rowan Coltage. £678.724 transferred to the Profit and Loss Reserve lin 2021 an unrealtsed gain of £380.470 rewiiserfj. An Operan deficit of £348.449 adNe•ed duriThJ the peiiod12021: surplus of £367,987}. but thi5 iludeS the net unrealised revaluation gains on fixed assets and inve51ments of £38.36012021'. £445.002). This has been funded by a of unrestn.ded and restricted reserves. Al the balanre sheet dale total l¢estn.¢1ed reserves re £752.64212021.' £21X.2661. Restri¢twJ reseNe$ al the balan sheet date pre £260.071 {2021'. £1.154.896). The ¢harity maintains a cash ban of £284.45812021'. £183.139). aThJ has net ojrrent assets of £247,495 {2021: £195.3071. In addition. the charity ha5 a COIF investment account valued at £368.213 12021.. £329.853). Tot net assets are £1.013.47712021.. £1.361.162). The %ze of the operatM)nal defiot of £348.449 came as a suryBe to the Board of TNstees as the Chief Executsve at the lime had infomwd the Tnstees meethng on the 9th March 2022 that due to the failed ReVery Plan and loss of #Kome M Retsil ar Footcare etc the wwled ¢)perats'onal deficbt would be £210,000 . The OTvJinal agreed defrut for the yw 21- 2022 vras £1XJ.LYX) in reccgnth'fm of Ihe r to restart many services from a pcorw positTron than prK)r to Ic¢kdv4¥n and to ntinue to address social isolation. The aclual deficit of £348,449 is 190% htsrthan ts sxiginal agreed defKit It reported to the 8oarf of Twstee5 1st June 2022 thal Ihe OrganilOn,6 rw in a sound p¢%rtion' and a revis&J 'tolanced' dget for 20- 20TJ of £765.LKIO 4fdS presented to them. This h•J been revised from ts l91n budget of £674.OCKI due to an increased nnI beiry set aside for pay IrTeaSe5 ler in the year. the National Insurance wveases. Ihe INing wage IneaSe aThJ an increase in travel expenses to 45p per mile. A5 detaikd ab)ve in this rep)rt under'Airrts Otpthes for Ihe Tukne, tr c8rity sc1 rts former head office. Rowan Cottage. Dorrtsler aThJ wrchased a new fad offic al Unrts 1 & 2. 5 Crown Square. pThdbUry. The ShOd be congdere $3¥irvJs the fulurt due to thè modwn. environmental nature of the ne head offi. The ¢hanty ¢onlinues lo use from a legacy. receNed in 201S116 specificalty to help c4der people are lonely or isolated. The Twstees have risk assessed the fin101 Iwiion of ts thaiiy arKI consider itlo be Viable and sustainae in the rnedium to long temi. Reserves Policy In 2019 the trustees awjroved a reseNes pc4y. They are mindful of the need to relain Sulent reserves to proted the thaity in fijture aTrJ consider that the sale ofthe propeity thryll enable the charity to hold gjfficient unStrth Teser¥es. Tr 2015116 legw enabd re5tn.cted reserves lo be held in the charty'$ accijunts. The Tru51ee5 th"re¢ttrJ that the be spent over the rrdium term17 to 10 yeats or by 2022- 20251 on the speofic area the benefiaary stiwlaled. P*Je 8
Ag• UK Dorchesl•r Trustee DiTector5' Report Forthe Year Ended 30 Marth 2022 Funds In Dofficlt The charity has no funds that ¥e in defKbL Going Cottern The Trustees have no unwtaintEs f>)ncerThrYJ the thitys at#lty to contThJe as a g)irg concem. PLANS FOR FUTURE PERIODS The trtee$. F4ans Inde the continuatson of broening r and serwces across the full extent of its a3 of benefit lluth of thi5 deVekJpnrt 15 designed lo be sew-fvnding. SLKh as home support. Some of it. such as reduung isolation, ry01n9 fijnded by the Lartiert legacy. HovEver, reliance on the gacy funding f( thi5 inwortarrt and war¢led ¢harilable funckn wll reduce over the next 3 years. it is therefore planned Ihal other inconx sources leg ants> •11 need to be found in order to continue to enswe the Ity ofthis inwtant seN¢e. The Board of Tntstees ha de¢thd that the dlIty wai n¢rt fesun any retsil orfoot¢are wowsion in the Ilre. TRUSTEES. RESPONSIBILITES Thg Trustees {vtho are also Direclors of Age UK Doychestsr for the purposes of company law) responsib for preparing the Tnjstees. Rep)rt and ts financial statements in aco)rdance wilh appli¢able1ow3nd United lQry(kni Standads (Unrted lfjng(IDm Generalty Acwted Accounting PradicE). C¢Jrnpany law requires the Trustees to Prepa finan¢i4 slatements for each financial year, thich give a true and lair ¥W of the slate of affaits of the chalitae conwany and of the incoming resources and application of resources, including the incoffle and expenthture. of the charitabbe company ftt tha penod. In prepaiing these financial statewrnt5. the Tn15tees required to." 181 selecl appropriale accountirrfj polictes then apply them consstenty. Ibl observe the nthds aThJ prirOes ift the Charities SORP: Icl make judgements and estimates that are reaSCfflab and pwuderrt" Idl slate vthether applieable accounting stsndards have been f1¢Y•a. sut4ect to any material departures disdosed and eXained in the finantial stalertnts". and lel prepare the finantsal st3tennts on the going c4ncem basis unless tt is wppropriate to wesut that the ¢hailtae cryny 111 ¢th¥iue in ¢)peration. The TSlee3 are al respmsible for keeFing a(kwe aC1v4 records disclose reascy)ab a¢curacy at afty time tr financial posibon of the Chaiitable company and to enable them to ertsure that the financia statements comply with the Ci>mpanies Acts 2006. They are also resp¢)nsible for safeguarding the assets of the chantable coryany arvj herte fortskn"rwJ reasonab steps for the In so faras the Trustees are al". there is no relevant inf0mli0n of vthich the charitable o)mpanYs examiners are UnaOre,. and the Trustees have taken all steps th they 0ht to have tsken to make themselves awBre of any relevant it)rrr•ll to eslablish that the examirws we Wre ofthat inlrKTTHtv. The Tn are respJnstrAe forthe Mainten WKI intewity oflhe ¢• and financial infonnatKJn induded on the Charitable mparry'S et6rte. Le91'on in the Unrted "rjd0rn goveming the preparation and disSenynati of financial staterrwts may drffer beglan in other jurisdicti'ons. Page 9
Age UK Dorchester Trustee Directors. Report For the Year Ended 30 March 2022 This report has been prepared in xcwlance vitth AccounbNJ and Reportin9 by Charitvas: Statement of Recommended Practice applicable to charities preparing their accounls in ac(#xdance wth the Financial Rewrting Standard applble in the UK and Republt of Ireland (FRS 102} (effective 1 January 2015} and in accordance the prows$ apF4table to cownies subj.ect to the small companies regime. Apwoved by the board on 5 Odober 2022 and ggned on tr*ir behalf Chairman of Trustees Page 10
Age iIK Dorchester Exiemal Examinerfs Report For the Year Ended 30 March 2022 Indep•ndent mmin•rfa rèport to the trnstees of Ago UK Dor¢hester Limgd (h• Cpy'j I report on the chanty tfustees on my examInatn ofthe xcc4Jnts cl the Company for the year ended 30 March 2022. Re5ponslbNllles and bagls ot report As the charivs trustees of the Company {and also its directors for the puOse5 of company law) you are responsible for the prgparabon of the act4)unts in accordano wrth the reqLtirements of the Companies Act 20C6 Ilhe 2006AcV). Having satisfd myself that Ihe accourts ofthe Crxnpany are rK wared io be audited under Part 16 of ttte 2006 Act and are eligible for independent examinatton. I report in respecl of my examination of your charitys ac¢ourts as Carried oul ¥Jrtder seclion 145 of the Charities Acl 2011 (Ihe 2011 Act'l. In carrying out my examirtation I have folkywed the Dweclions gren by Charity C¢)mmission under section 14515} . (b) of the 2011 Independent exafflin•fs stalement Since the Compan$ gross income exeded £250.000 yow examNw must be a membèr of a body listed in se¢lton 145 of Ihe 2011 Act. I that l am quahfied lo undertake the &Yamination because l a member of the Institute of Ch•tefed kcountants in ErKJlarKI and W, thtch is one ofthe h'stod b¢¥J5. I havo ¢thTrpleted my examination. I confirm that rn matters have CA)me to my attentton in connection with the examfftatton gi%ing me cause lo befieve: 1. accounting rrdS re not kept in w of the Cc•npany as required by Secti 386 of the 20[ Act., or 2. the acCnts do not with those fecorfs.. or 3. the accounts do rtot compty with the alI¥j rewirunents of section 396 ofthe 2006 Aet other than any requirement that the accounts gNe a and f"r och is not a mr considered as part of an independent examination., or 4. the accounts ha¥8 not been prepared wi accordan¢e Vith the mthmls and principtes of the Statement of Recommended Practe for acctyjnting and reporting by dArittes lapplicable to charities preparing their accounts in accordance wtth Financk41 Rep)rtmg Slandard appkable in the UK and Republic of Ireland {FRS 10231. attentK)n should be Ihi5 report in (xderlo enth a proper erstarling of the accounts to b& reached. Signed.. Name.. Rosie Darkinthliler LLB {Hons} 8FP FCA Institute ofthe Charte0 Accountants in England and Wales 24e Deverel Road. Chadlon D¢yn, Oorche51er. Dorset DT2 9UD ISli• Address.. Date". 11
Age UK Dothter Slalernenl of lindLaivJ ¥bJ For IPéYe8r 30 2072 Donaiims and ga Other tradiThJ xtwrt 16.768 157.491 16.768 157,491 113.499 65,528 735 113.499 65.528 735 174.345 174.345 179.762 179.762 choritab aLvit8'. Income from seNK*s Grants and conlrac15 203.522 ,257 11.174 143,242 142,723 143,242 436,397 119.826 43,242 323,015 11.174 293,674 119.826 ExpIlOI item". Recovery of htsttyK VAT 17.073 17.OTJ 43B 182 879 227 Exp•ndityr• w: Ra1ftg knnds Chardable aLlwtr5 2.266 296.850 185.191 67.891 275.946 586.384 862.330 224,362 4n.79B 253. 703.160 510D) 5886yJ 11591KI 409553 546fj89 G•insl(S)ssesl on revdluatbjn fr4&J assets Unrealed gaInl05$esI on fftveskner 3W.470 64.532 380.470 64.532 10 3&, 3B. N•tInw{•xPdoI 56 174 311813 367987 6rn.n4 (W8.7241 Rttonclllthn offw T¢tJ Furtd$ bfoughl foNArd .26S I.154. 1.%1.IV2 19).0¥2 843,CQ3 993.175 713 206286 11S4896 1361182 PaJ• 12
BalaTh2 Sheet ** 2021 FIX a8s•ts Tangbk assets Imie$tment$ 10 Totsl fix•d assets DebtOf3 and prepayiwts Cash at aThl in 113.t155 64.139 183.139 Totsl a#Bots 397.513 247,278 Liabilltles 12 I1.018) {51.971) 247.495 195.307 Total ass•ts Ims ¢yrYtyrt liabilitss 1361 162 Th•funds of the ¢1 General fvjnds Designaled fiJThl$ 13 13 702.642 ' 156,266 752.642 Fixed asset funds Restricl•d fund5 13 13 678.724 476.1n 250.071 Total charlty fwYl• 101271 1361162 For the finala] year in west&)n the owwas erniiled to exemW 47T ofthe C(wanies Ad 2016 rdating to small effiiwie5. sedion 476 ofthe Companies Act 2(. Th&se accounts have been prepared In atr(thce wilh Ihe SXWSiLTh appat to cOMpw %ieca to Ihe small ' Nif*L P Sv5AN Jbyc 13
Age UK Dortlwsler Statement of Cash Flo For the Yew Ended 30 March 2022 2022 2021 Cash Ilow from Opefallng activilies Net movement in lunds for the period" {348,449) 367.987 Adjuslmenls to cash I1(yS from rrrfa$h ttem$ DeplatIOn and amortisat*)n Unrealised gan on investment Unrealised gain on woperty Finance income 4.248 {38.360) 5.125 (64,5321 (380,470) {735) (86> (382,64n 172,625) Working catal aU¥1mertts De¢reasey lin¢rease) in debtors Increasel {de¢rease) in uedrtors (48.916) 96,047 18.822 31,710 Net cash used in qjeratng aclibry (333.516) {22.093) Cash flows from investing activltl•s Interest from investments Purchase of investrnents 735 Net cash wovided by in¥esknJ actvil 735 Capital exndItr0 Payment to acqui tsngthle fixed assets Receipts from the sale of tangible fixed assets 1393,251) 828.000 (10.6151 Change in cash equivalents li the pemd 101.319 (31,9731 Cash and cash equivalents at the begnning of the period 183.139 215.112 C•sh •nd cash 1¥alents at the end of th• lIOd 284 458 183139 14
Ay UK Oorchester
Note5 to FInar1 Statemthits
Ftsrt Yt8r Endal Xl Marth 2022
1 A¢¢ounling Pollcles
1.1 General infonnlOn and ba¥18 01 a¢¢ounWTrB
A98 UK C¥ychester is a comF4ny Ivnit•J ty guarwfye inc(¥w4bJ ui the Uned ratn cowry8n5 Act.
The rnaximvm IlIlty ofexh 15 lit to £1. The •Jre55 ofthe regtered offic8 is gNen on p•3e 1. The
natty• of lh• thanty's opwabryBarnl its priYHl aclwths ar• s•t£yJt Trknaè8s r•rtan pagè$2- 10.
The finanoal sts¢ements teen Pler0d In £ sterfwg on the hL%tuica cc6t b3515, ¥Ath the except of Land and
Buildings (which We ValU?1 in 20191201 cdaD th AaUntIng and Rep)rtiThJ by ChariÈs.' Statement
of Recjjrnrnended Practi to thartyes preparirvj th•raccounts acc<xdarKe wrth tl Financial Re[KIn9
StaTrJard apF4Kablè in lh• UK ReputA¢ of Irelwd IFRS 1W21 leffedi¥e 1 Jpdwwy 20151- Ictsrites SORP IFFiS
10211 and the Companies Act 2(Th.
Tha chaiity meetsthe dthknn ofa Publ ler FRS I(12. Assrfs and We irialty al
1.2 Incorne
All irKome is inc1jd in strtenI of FanCIal Acb"th Wh the thanty is enbved to ino)me aThJ the amount
n be quanlhlJ with réasornab atojracy. Tr followiNJ speoft F
Age UK Dorel81•y NDt•$ to thtr Financi81 Statemet Foithe Year Ende(130 ma 2022 1.S Operating lea$¢s Lease$ ift whiL subanlidFy all the risks aThJ rewath are retaired by the Iwor ¥e da$8thed a$ cperating aSe$ RentsLs payable ur¥Jer operating le$ a Charged to the Sla¢ement of FiTrancAal ArAiwtse$ as irKwred over the tem) of Ihe kase. The has OP8rknJ kn•5 forsLTh• Ot the prèm fmm whith it OP8rates. The tth of kased pTrmises wairs wih the ksgjr. 1.8 Flxed assets Where assets we pChased. IW stabJ * Iher oJ51 pbjs any I11nl of acouisition, less depre¢iatK)n. Where red assets are donated. Ihey are Stated at thw estimated mathe¢ value ¢)n 5$ d8PTeciabon. Whwe assets have been revakd. are Vall al a wofessK)nal mathèt valuation whKh is r8vMved every fNe years. D8preaation is eharged Mi respect cl assets arnl 15 catultsl $0 as to write off the c051 of the Freeltd laTh# arvj Ix#'klir95 Lon9 koseho offi equipment Computer ewvmerrt Molot Vehi¢fe$ Ibuilythp onty} 0.1% strap31rt I )tar kasel 10% strdJht li IIMYA straBht I 25% redng 1.7 In¥e•lmenl8 Inves1m in trndod ld5 ar• $tal•J at mathot wal a$ at 30 Mar¢h 2ty22. Rèalised gains aThJ knsses inestrnents e cah>JktèJ as the dYererts tsetsn the woc8ed5 and c05t unalLed gain$ and ktsses a rak>Jld as th¢ JIffwer tetswn Its marketvalte a11he yeai end and operrvJ martet valu8 or purchase ¢Je rf ler. as aJju5bJ for UnSe 9airts fx kJss6s in kYWDUS whth have been 81ininated on di5ptisal. Rèaksed we not sep•r•bJ Statwwt ol Fiwrial Activ'es. INv•sbn8rts il gJby(l•ry are stated at cost. 1.8 Oebtorn A¢uu&J irwn• ts Indd at the amowl to the thwity at th? slwt dai 1.9 ¢a$h at and in hand Cash at t•nk and in har#1 i1eS cash and sIrt to hty3hty Ibi1 wmslments that we re•Jty corwertibK8 lo a known anKunt ol cash ¥KJ we $it kn an in vu8. 1.10 Creditoi¥ Credrtors and pro¥tsions are recc•JnisèJ Te the charty has a present resulling from a past event that will wobaW fesun in the trster of to a third paty and the lo settle the obfuatrtn ran be measured or 1.11 P•nsion5 The chanty operates a defined c1mtllbutn sdvne forthe tstrrt of its empbJpe5. Tr ¥then rts assets are hekl by irJependent rnarwr5 Conlritxrtions are reccgnised in th8 statent of FanC1 ALtiYitBs in thg pèrA)d ) hKh IW parable in •c¢Wdw4h ofthe The charlty is abo part ol a Merro dgfiwl berwfrt pern sthwn•. th• assets aNI Iral)ilrfs ofwhth are not separately kny pa>Th•nts arn Staknrt OfF¥181A¢1th5 in Il n0d in wl>th they 16
Ag• UK Dovchestrr Notes to the Financial Statwnents For Ihe Year Ended 30 March 2022 1.12 Taxalion The company 15 a rn9¢tw•J and 0 IPefe nrl Imtleto lXto exlent Ihat ils ir[& gains are aFpb¢able to thartabk purposes tty. val •SJed tsx was not Teo)¥erable by Ihe company aTrJ is thereforB In¢ded in th& rekvant Djsts in the Statwneni of FinaniiActvrts. At Ihe start ofthe a)21.2 faral year, the Charty registered for * put in a retrospectwe darn in relathx to Value Pthed Tax. whtt dal•J bk to 2015116 financKal year. Thi5 was shon as an 8xcepknnal of wlcomtr •i tre Stathent of FI1?•1 Aelwils. 1.13 Fund accountlng rpose and are as 9enwal fuTrts. RestrKted furJs arv to bè used for speof¢ puryoses as pJ by LI(¥. EynL1rture rrwts terion is chargtsj to the lthj. togeiherwilh a far of mawnwt ar SUFPYt 03sts as aFPTowate. 2 Donations and legacies Tqstri¢tsd Funds Fund 2022 T¢strkled Fund• F¥nd Fund$ 2021 Donations aTrJ 9rfts Legaaes 16.153 615 16.153 615 113.4 113.499 16 768 1134¥a 3 Other tradirtg activltles R••trict•d Total Fund• Fund 22 R•8trict8d Total Funds 2021 tri¢tsd Saks ofdonaw gwds etc. Commissions Distrbutron trorn joint verts• Fundra$ing adiwt*$ Letting income Mi5ollarwus 146.588 146,588 ,899 9.477 62B 9.477 7.589 157.491 157.491 65.528 4 Expenditure on raising funds R•stricted Total Fund Funds 2021 rq#triclDd Fund Fund8 2022 Fund• Trathng c( 2.266 296.850 185.191 67.891 253.082 2. 296.8XI 253.082 17
Age UK tlovchestsr Notss to the Finanual Stattynents Ff th& Year Ended 30 Mah 222 S Expenditure on charltsble activlties lriclod Funds Fund 2022 rrttrictsd Funds Fund Fundg 2021 Managernent Cowd. 19 Personal an4 ¢Jay ca Infomiation. ad¥th and Fundtaising Soaal Well b•NJ Nail cuttiThJ prq¢4 Get Up and Go IT Skills Prison Befrienthrvj 172,789 34.673 7,462 3.Ot7 8.814 33.IfJ7 19.orJ 11.585 3.861 29,699 43.e64 15,178 12.467 28.150 52.340 224 11.831 52,C60 15.446 73,363 27,645 80.490 54.&57 21,389 63.616 118.473 210 21.599 68.399 68.399 17.015 17.015 .243 .243 744 19.773 21.117 19.773 21.117 1.4 194.358 10.531 10,531 16.403 9.534 175,459 785 .139 9.$34 78.(VJ3 224 1,499 H¢yre Support Melod¢s for memories Househok1 Supwt Grant HandYrsOn Cognrtwe Svpp¢)rt Thernpy Maintenanc• C¢)Jriiwe SuFPOrt Therapy 194,358 97.366 5S1 2.474 6.272 13.829 16.>)3 6.334 1.378 15.7 9J.378 15. 14.302 14.302 5.124 5.124 1.300 A¢c4)untarKyand aLvJit 478 796 . Covhl 19 5UPPCrt ojsts wer8 alated across the reknanl cost centres in both firIal Governrnentlurtowjh 5UFPWt 15 aLs0 sh¢Jwn as akred KrD55 ts oJ5t in this nLe. 6 Net lexp¢nditurelfin¢om¢ for the period This is slated after thargiTrJ.' 2022 2021 Oepreckqtio AccLJuntsnw cNgrges lTrJependent ¢wInat le1 Audit services 4.248 5,124 400 1.865 7 Trustee dlrecto NO ofthe truste8 th"rdors (tx any persor6 ¥tth IrmI [8C1 arry mUrat dwiryJ the Ferbxl 12021." non•l and none wer• rlltr5ed trab4iry eyin5es in thw'r ro a5 trustse512021." none). 18
A9• UK D¢r¢h•st¥ Notes to Ihe Finanoal Statemtnts Forthe Year Ended 30 ma 2022 8 Employees and employment costs 2022 2021 Wages and sa&re$ Soaal seDJTrty Costs Pensb)n ¢>)sts &34.357 713.861 45,338 35,404 26.910 24,743 6 605 774 008 The ¢haiity operates a fined wrfftibulbjn )n scheme. The ¢harye forthe Fri)d represents contribLrtions payabk by the Chkn to the sdw a1 arrthmt•J to £26.91012021.. £24,7r81. contrul totAUiNJ £4.10912021.. £5,027) wer• pardt48 trjthe at ts eNJ ol th? period and ¥e in crBditor5. No iTrlDiidual empte was pJ o¥er £60.IKI)12021". wel. The key management personnel of the charty is corts•J8rèd 10 te thè Chef Execubvè Off¢er. The tcrtal ¢c6ts to t charity ofernF4tye• for tl kerf managmenl Fersonrl we £53.Bt112021.. £52.8231. The average montNy he8nI Inwnber rAslaff W)*3}dm¥J was: 2022 2021 All staff 87 9 Tangible fix•d ass•ts Cornw Totsl Leasehold Fillings and Equiprnent 2022 Land and Vehicles Cost As at 30 Marth 2021 Additx)n5 Iha year Unrealsed on revaluatb)n Eliminated on dk%posal As at 30 Marth 2022 10.615 0 882.844 10.CN 393.251 381.127 12.124 1872.2291 0 1872.2291 10.OS4 403.866 10.61$ 381.127 12,124 DepCiation As at 30 Marth 2ff21 Chwge foT Eliminated on thspos As at 30 MaTth 2022 46,883 4,248 144.2291 6,902 1.212 10,C64 144.2291 1.212 10.054 N•t Book Val As al 30 Marth 21522 5.307 380.745 10.912 396,964 As al 30 Marth 2(Y21 82B.O(K) 7.961 835.961 19
Age UK Oorchestèr Notes to the Financkil Statrts Forih• Ye¥ Ended >)Math 2022 10 Inveslments 20 2021 Ag• cOnM in fxxset Lnrted Age UK Dorset Entwwses LwThted COIF lnvestsnentA¢Lrt ,213 329,853 368 254 Th? clithy owrts 40 slores of £1 eth represenb.rg 4LPA isyjed shaTr t•tal Mi a i¢¥nt 4rrturÈ tmpany. Age Concem in DO8t Limrted Ir8gi51ergJ fA40257 in ENJkThJ aThJ Wabsl. The joint ventwe company was established in eon1unLli wrth Age BwnwNuth arKI Age Norfh tk¥set lo pThid8 servKe5 across ¢n 1 Oclober 2011. JI servicas provided by Conc•m in Dowi Lvnrted have now althcwgh the ¢tynpany retan5 sufficnt fL#)ds to en8b the repaymenl ol al the share oryinalty sub5¢ in frjl. The charty owns 1 share of £1, rewesenimg cl the eariial in a prrt ¥trdufe ¢4)mpaTry. Age UK Dorset Enterprises Limrte(I Iwtstsred rMrnteT ICQ54906 in England Wathl. TheiThnt Ventu company was estsbWie(I In 1}unC$M wrth Ag8 UK Lwnknd to pThh1• s•r¥tss ar9 Dors for owyer peoth. Age UK thy5et Entwses Lrnrted math nodi5trilwlx of to UK CythÈster iimrted aThY Age UK Boumemoulh Limrted uTrJer the gfft sckn12021". no pr wwp di%lrlyJtedl. See riote 3 ttsr fvrther dtals. Ag? UK t)orset Enterprises Iwhth bewne domwnt at the end ofthe 2019f20financpl year) reccffimen¢Jed tradir#J in the year. deli¥erirvJ Servi in relation to CrAJrMb¥e SurmrtTh8fdPy. The final 5taternènts for that o)mpany hove not yet l>een prepwed. but the ccfflpary exFeded to break e¥en, with nD th"striburab profft. There were In 2018119 thacharty bought 1592.41 L•ls of a COIF Chanls 1ftent FLmd. The dsdrures of historical cost and market Val are ncied 2022 2021 As at 30103r21 Addittons Net Unw1 Ilow$Vgain$ Morkel val at 33122 329.854 265,322 Histori¢al Cost a$ at 3CV03r22 H6tOri¢o1 Cost 0$ at 3¢Y01 250,000 Investments at Market C£9ed. UK ProFety FWKI 329 854 Thg Tru hekl the rn1 {tyv oftr v4kn}.' COIF Charitvds Pfoperty FuTrJ 368 214 Investsmwrt Val$ ar• ated w)t•t 11 Debtors 2022 2021 SuThJry del)tors Prepaymerts VAT 50,166 13,973 14,931 13,164
Ap UK tlovchestsr Noks to the FInar1 Ststmnts For Yew End•J Mah 2022 12 Creditors: Amounts falling due one year 2022 2021 Trad8 crit5 4,109 10,342 135,121 5,115 11.008 .848 Tax and soaal SeIlty 150.018 51.971 13 Statement of fvnds sat Inc¢¥M Expen Trnnsfer ol Gains and A8 at valuion 1088e8 30mW22 surplus on disp¢>8•1 30103121 Unre8kncted lundB Gener31 lunds 156.2 4W182 1570.5301 678.724 702,642 Desl9nated fvnd8 b 8uildin9 resèrva 50,0 Totsb unre•tri¢ted lunds 266 438 182 678 724 e Flxed •Met funds 678 724 Restricted funds d Informat)n and advice inckhling wetsre tenefits. wami homes 19.CQ9 44,607 IS3.6161 e Government grant- f Co9nitNe Stimulation Therapy g Maintertat of C(w StInLeIn Therapy h Management i Prison j Belriendirg k W¥ll bw.rvj l Le9aey 11,174 111.1741 149,8881 (15.7) 19,074 3,107 34.673 134.6731 119,5811 121.1171 116.6491 1317,1261 7,874 26.562 22,450 38,360 177,732 47.679 456.498 T)tsl r•strt¢tsd fun 476 172 29S 530 549 YJ1 Total fund• 1 361 162 1 120 521 36360 1012 713 b The build9 resw¥e has been put ashle for th required the bulhJu. c The red a55et fund or revaluat reserve was a tethnical reseThe to r811 the Unreaed revaluation 9aM on Ihe prolty folknwmg Ihe sak agreed on 24rt)Y21. K8 a techn rese. Ihe fu1$ we available for eenditU. On ¢Jisposal in 2021122. the revavation surpkjs was transferred to relained 8amings. ij The InfomatN)n and a¢fvte reserve ¢o%ers granls to the of infOmaty and advice, includiThJ wam) Ho5 fundiry Iwlwth carne from Eon aFpk8S toschwrt•s to tift9 ar insulalion and ar$ to benefrts entitements chethsl. • The GoverrThnt GMtfurtjh fwthwere aFWvJ aga¥1 ewditure on staff saari85 duriThJ th? year. l The NHS has provthd want hJrJry toswyAt the of dasses Iwhth assist vrarding off dernenlial. g Age UK has pfovKJed grant futhdthg to $Ltyt Ihe (Ytyision ofMartenar ctrJfirti stimuLatth therapy. h Various fuTrJmg Pro¥ed 9rants to SW>F•)rt man3ement arkl IT costs reLqted to fv rurrir9 of fronline 21
A9e in( Oor¢hesfer Notes to the Financial Statements For thg Y8aT EwwJ•d xi Marth 2022 i Age UK piow(le(l a grwtto enab Ihe PT0vfy of support to obJeT P&)ple in wisorts. Tr•s cD4ers prov#ling infomation, advice aThJ athts. ar#1 help5 Wrth yeparir9 to le the prtson. The ¢trac1 is fty 2 years an commèndad A51 2020. j Various 9rants hav• l)een provithd to SW)KKMttr of a bofrdiwJ serw. to h rlUc kJnefir&ss aTh) Sla1 isolats'on. k Various grants ha¥e b•tn provpjed to supwl tt wov¢t¢ffi of a ete"ry servi. whith hdF6 to r•JLTh lornlin85S and social is0on. l The fvnd wi5•s a Wy pro¥vJ¥J by Ihèestsle ofltr iho use ol I0eSS aThl is0.0. 14 Anaty818 of net assets bet¥%wn funds Unro8t- Re8t4iclod Tolal Fund• Unrest- FUJKI 2022 vteted Funds Restrfictsd Total Fvnd Funds 20 Fund¥ Fixed assets Curyent 8S8ets Creditors due wittn OF year 505.147 397.513 1150.0181 260.071 765.21B 397.513 1150.0181 589.150 247.278 151.9711 576,7Ci$ 1.165.855 247,278 151,9711 1 012 713 576 705 1361 162 15 Finan¢ial commllments As at 30 Marc 21r22 the thwitywa5 ccmmiied to mirq the foxir¥J paymnts l•as¢s". 2022 2021 Land and buildin9& Expirlng 2- 5 Other. Expwing 2- 5 y8ars a0.0 4,513 1,789 4.513 81.789 A5 at 30 March 2022 th• tharity was ¢LVTmlted to makir¥J Ihe folk7•n"rvJ p•m•ts urthr ¢¢traS for seNK8 charges.. L¥nd and building•: Expwing 2- 5 yogrs 16 Related party transactlons The charQ¥ undwiook no tr8nsaLIiLTh with ts stynl ¥•nlurn conp•iy. Concem in tkr8at Linrted. During the pwiod Age UK DOhester re1 Erril in fees or recha amtyJnts12021". £Thbl A9e Corrmn in t>81 Limrted. The chanty uThyert no rylh its jthrt bwbJre rjymparry. P4e IM Dorset Entetse5 Limited (AUKDELI. Durin9 the year no management fees LY r8charyed amLyJnts were recvab fr&i) AUKOEL12021.. £nill. Enil was outstandng at the ar end12021.. £nill. [[j yearAUKDEL £Thl salary c4sts on 1)tha¥Of UK Cwthester "Mrted {2021". tniD. £nil was outstanding al the >ar end12021." £nill. No profrts We duled bac toAgÈ UK Ctthestw Lonited12021.. £. £nli wa5 ryJtslanthryJ al JEar8TrJ12021.. Al #* al the aUrt duefrryn AUKDEL was £ritl12021". £riD.
A9e UK Dor¢h•Jtrr Not85 lo the FK•a1 Slatements Forthe Ye¥ End Mah 2022 17 Company limited by guarants• Th8 charity was irK¢rwred as a c4)mpany Ivnitgj by guarantee ha5 no 9fva captsl. The guaraniee to the ccmpany i8 £1 Irmber OD the wThJir¥J of IPe cthN)any. 18 Pension and simllar obllgatlons Th? chanty paritsptss in a TPT RO1mert sokAn5- Th8 Gro1h Plan sclm8, a rnufo"mployer%eme wh prowdes beThyffts some 1.3LX) n-aSS(ted empbyers. The a defmed tenefrt thme #i the UK. It 15 not Possible for ihe tharty to oblain suffwt Informat to ¢Trab it to acojurrt lor the stheme as a fined benefft 8ch8m•. TtLy¥ rt xcounts sdw• as a d•fn•J sch•Y. The s()e is sut¥'edto th8furnliY¥J leg"slatson 011 in Ihe 2Crf)4 whKh Ca nto forte Oec8mb8T 2005. Ths. toyether wth tknmerts iSsd by Pens•Jns ReguL4toT ard Tthical knarial StandBrd5 issu&J by the Finanial RepOrtW Councl. set crtrt thefrWnerk for f1rJ deknj t¢nefft ¢¥pab0ThaI pension sthtyn•s in the UK Th8 scheme is ¢Lgssird as a'L7st-man stand1 arraTrJemerf. There charty habte for crther partPatIr9 employers. obga"¢ts rf $¢ empfoyws a unabk to rneet their sharn ofthg Sche def11 followAng Tmthdrawal from Ihe $(the. Particpatry empbprs are rLyuirèJ to net ther $hafÈ ofthe SChe defrt on an annuty purchose basis cffj tYwaItr(ffi tt scPne. A full actuar1 valu8tJn ts the scheme wd5 ojt at 30 Septemter 2014. This valuaixln shcthed assels of £793m. liabilities 01 £971)n and a thfKJl d£77Tm. To dvminate this fvnd¥g sh¢rtl. Ihe Trustee asked Ihe partupatiTYJ 8MpIots kn pay aadit)nal controulions to the sthm from 1 12016 to 30 S8Ptwnber 225 of £12,945,440 per annum monthty and mr31r9 ty 3% exh 1st Aw"Il. Irun 1 April 2016 to 30 September 2028 of £54.560 per annum Ipayatsle morfity in¢reasty by 3% eath on 1st April). Unbss a CO$0 has agr8ed tr• Trttst8• t•rm to 30 S•pteffber 2025 8ppIios. Series 1 Serie8 2 Sch8Th f1185. Where tts scheN i8 in defKrt and Ihe Ixymwy has W to a thfot lutsJir8 wr•wnefit the recognise5 a Irdknlrty for thrs ci)ligab"on. The 0Urtt rec(snwd is the npl present Val of the defic4t reduclion contributions payabkn under a9rewnent th relates to Ihe Ilefrt ThB pSent valL 15 calcukted usiny thB discount rate dètsled in th•5e disdc6m. unwiidiThJ oftt dwjunt rnte 15 rwii50d as a cost. The ¢haity ha$ ¢eNed aj¥ that trere w&% • est&)wled debt d £7.W(2J." £10.W281 on Ihe withjrawal liabilty in resFett cl the scheme at 30 septemb 2021. As Jw)ted abJ4, the Jual liat4ty onty te kK•n rf the thgrity wthjraws frcqn the SChe[r and this h•J not ocoJrrJ at the d* 0fth rwl