Charlty Reglstratlon No: 1146462 Company Reglstration No.. 07928260 (England & Wales) Berkshire ageuK AGE UK BERKSHIRE Annual Report & Audited Flnanclal Statements for the year ended 31 March 2024
Age UK Berkshire CONTENTS Page Legal & Administrative Information Trustees Annual Report (Includlng Dlrectors Report) Auditors Report 10-12 Statement of Financial Activities 13 Balance Sheet 14 Statement of Cashflows 15 Notes to the Accounts 16-28 Page 1
Age UK Berkshire LEGAL AND ADMINISTRATIVE INFORMATION Truslaes Roger Chester Paul Chrimes Sharon Trimby lThvan Owen Jit Patel Helena Hughes Steve Foster Chair Treasurer appointed 11 October 2023 appointed 11 October 2023 appointed 11 October 2023 Chlef Exocullvo Offlcor Flona Price Charfty number 1146462 Company number 07928260 Prfnclpal &ldrn•s Un5t 119 Broad Street Mall Oxford Road ReadirYJ Berkshlr8 RG17QE Reglstorod offlc• Unlt 119 Broad Street Mall Oxford Road Reading Berkshire RG17QE Audltorn Gavln Whltter FCA CTA Gibson Whitter LlmKed Larch House, Parklands BusSness Park Forest Road Denmead Waterloovllle Hampshire P07 6XP Bankern Barclays Bank plc Broad Street Reading Berkshire RG14RP CAF Bank 25 Kings Hlll Avenue Klngs Hlll West Malling Kent ME19 4JQ Invéstm•nt Managers Quilter Cheviot Asset Management Long Acre London WC2 9RA Page 2
AGE UK BERKSHIRE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their report and financial statements for the year ended 31 March 2024. The accounts have been prepared in accordance With the accounting policies set out in note 1 to the accounts and comply with the charitable company's Memorandum and Articles of Association. the Companies Act 2006. the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland {FRS102). and 'Accountlng and Reportlng by Charities: Statement of Recommended Pr8Ctlce applicable to charltles preparing their accounts in accordance with the Financial Reporting Standard applicable In the UK arKI Republic of Ireland (FRS 102)" (published in October 2019). OBJECTIVES AND ACTIVITIES Prfnclpal obJ•ctlv•s The Charitable objectives of Age UK Berkshire are to relieve older people resident in the county of Berkshlre who are in need by providing seprfices, facilities or items calculated to relieve the needs of such persons. and such purposes as are charitable accordlng to the laws of England and Wales for the benefit of the publlc. In golng about our yrk and establishlng our aims and objectives, the Trustees have given careful consideration to the Charity Commission's guidance on public benefit. We work In partnership and collaboration with other local charities, voluntary bodies. statutory authorities and organisations In providing education and assisting older people in need by reason of111-health, dlsability, Ilnanclal hardshlp, soclal exclusion or other disadvantage. Prlnclpal actlvltl•s Infomiation & Advice on a wide range of issues affectlng older people, Includlng welfar8 benefft8, finance, penslons and social care to people aged 50 or older In Borkshire, thelr famlly, frlends or carers; Befrfendlng In Readlng, Bracknell and West Berkshlre: our team of dedlcated and carlng volunteers vlsit clients in thelr own homes or speak to them on the phone to provide companionship and engagement in friendly conversation. Wa also now deliver befriending to those with mildl moderate dementia; Active Living for older people: helping older people keep active and discov8r new activiti8S, rekindle old hobbies and find new friends in their community; Carers support in West Berkshire and Wokingham: helping carers look after their ovm health and wellbeing. connecting with other carers and infonnation and advlce. Dementia Coordination including making areas dementia friendly in Wokingham. West Berkshire and Windsor and Maidenhead. Dementia activities for people with dementia and their (zrers including cafes. seated gymnastics, Maintenance Cognitlve Stimulation Therapy and slnglng groups; Easy Shop assists wlth onllne grocery shopplng glvlng regular and rellable grocery shopplng delivered to the persons home; Handyperson Seprfice carrying out a range of small household repalrs and minor adaptatlons In the home helping maintain independence as much as po&sible; Page 3
AGE UK BERKSHIRE TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (continued) FOR THE YEAR ENDED 31 MARCH 2024 Prfnclpal acllvlll•s (contlnued) Home Help Plus to support Independent Ilvlng. Indudes general household cleaning and supportlng attendance at appolntments, shopplng and papeThvork; Home from Hospltal servlce In partnership with Wokingham Borough Coundl and Bracknell Forest Council to provide short term support in the transition from hospital back home, Includlng practical support, infomiation and advice and signposting to other relevant Services; Dementia seNices providing ongoing one-to-one support for people wlth memory loss or livlng with dementia, and allowing periods of respite for carers. Structure, governance and management The Charity Is 8 company Ilmlted by guarantee Incorporated on 30 January 2012 and govemed by it8 Articles of Association. Operations commenced on 1 April 2012. Ag8 UK Berkshire was fonned from Age Concem Berkshlre whlch was first estsbllshed as a chartty In 1964 but had been In exlstence Since 1958. It was registered as a charity under the Charltl88 Act 2011 on 26th February 2008. None of the Trustees have any beneficial interest in the charitable company. All of the Trustees are volunteers. Trustees are assisted to fulfil their duties by the chief executive and by other advisor3. who offer Infonnatlon and asslstance In undertaklng all thelr governance tssks. It Is the responslblllty of the Truste8S to meet to make balanced, proportlonate and clear declslons about the future of the charitable company, and make all disclosures about the organisatlon. Through consideration of reports on financial management, income, expenditure, liquidity, Investrnents and of forecasts for the next twelve months, Trustees have analysed any risks to the company alongside the strategic plan for groW(h, and have identified no mat8rlal uncertalnties that cast doubt about the abllty of the company to continu6 88 a going concem. The Trustees, who are also tha dlractors for tha purposa of ccThpany law, and who served durln9 the year were.. Roger Chester Paul Chrimes Sharon Trimby lThvan Owen Jlt Patel Helena Hughes Steva Foster Chair Treasurer appolnted 11 October 2023 appolnted 11 October 2023 appointed 11 October 2023 Tru8ts• Appointm•n( Inductlon and Tralnlng We regularly complete skills audits to ensure that we have the correct balance of skills in our trustee board. When recruiting trustees. we concentrate on utilising this audit to support any skillsl knowledge gaps. Potential trustees are asked to demonstrate their skills and knowledge ft)r the role. Our trustee induction and tralnlng programme ensures that they are equipped wlth knowledge of the organisation, its activities and aims and have a clear understanding of their role as a trustee. Our trustee induction programme is in place which indudes introduction to the charity and organisation, visiting our servic6s, meeting staff and volunteers. It also includes safeguarding training and training about the role of a trustee. We have yearfy trustee training in place which covers changes to guidance for trustees and updates on charity commission guidance and Support for trustees. Page 4
AGE UK BERKSHIRE TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (continued) FOR THE YEAR ENDED 31 MARCH 2024 Organisational Structure The Board of Trustees are responslbte for making strategic and policy decisions, approval of budgets, the sale or purchase of major assets such as land, and the startinglending of services under local authority contracts or others. The operational and daY-tdaY decisions are rnade by the Chlef Executive Officer and the senior management team. Network Age UK Berkshire is a brand partner wlth Age UK, which was formed In 2009 by the merger of Age Concem and Help the Aged. The trustees of Age UK Berkshire agreed in March 2016 to re-slgn the brand partnership agreement between Age UK and the local charity Age UK Berkshire. The brand partnarship is currgntly undgr review and a new version is expected to be signed in late 2024. Age UK Berkshire works in partnership wlth a number of different local organisations Includlng, Berkshire Youth. Promise Inclusion. The Llnk Vlsiting Schame, Understsnding Dementia, Reading MENCAP, Communicare and Get Berkshire Active. We are part of The Reading Advlce Netth)rk. We work closely wlth other Age Ubcs and Age Concems across Berkshlre and the surroundlng counties to ensure that together we are able to respond to the needs of people in later life. As ever, none of the galns wa have made, or the increasing reputatlon wo enjoy amongst all our stakeholders, would be possible without the support, enthusiasm and dedication our CEO, Fiona Prlce and all of our staff and volunteers. On behalf of the Trustees, once agaln It gives me great pleasure to extend our grateful thanks and appreciation for their superlative efforts. Our Statement of Financial Affairs shows an increase in our Fund Balances of just under £800k, but analysing those accounts shows that activities under management control generated £88k, which gfvan that the InGrease In National Minimum Wage intr(xluced in April 2024 increased our wage and salary costs by almost £70k indicates the vulnerablllty of op8ratlng charitable actlvities because muth of our Income Is fixed In the short tem). As Is our practlce, our annu81 budgat alms for a breakeven posltlon, excluding our Infomiatbn and Advice and Befriending s6rvSc8s vthlch are determined as our prfmary core objectives and for whlch demand for these SeIce8 outstrlps grants. Deflclts resulting from this are financed from unrestricted reserves. Donations and legacies have served to provide us with financial security, vthich we gratefully acknowledge. This gives us a very strong platform on which to d8velop support throughout Berkshire, as outlined In the CEO'S reFX)rt. Our annual Away Day gtves us the opportunlty to revlew and update our progress toward meetlng the future direction and aspirations of Age UK Berkshire. l am pleased to report that, effective from 1 September 2024 we have entered Into a Memorandum of Understandlng wrth Age Concem Wlndsor to support them over the next three years to develop charged for sepllces and underpln thelr flnanclal position. This is consistent with our aim to roll out a full range of services and support to the age groups wlthin our puniiew - this agreement will increase our profile in East Berkshire and substantSally Increase our %vhole Counw aspirations, as well as help more older people to live well - or better. We also noted that that services to clients in their own homes delivered by other agencSes Is decllning by moving to either group activiti8s or phone contact. We believe that this may lead to social Isolation and drfficulty for some accessing infomiatK)n and support in this digital age. It makes true the observation that when asked, most will say 'l'm ok" or'jusl fine, thank you. when, in fact, meeting that individual in their own home may find that not to be the case - and eadier intervention in these instances can lead to improvements and help to keep people In thelr own home5 longer, with obvious benefrts to all. We believe that reliance on the charity sector by statutory bodies will become greater over the near tenn and think it likely that seniice delivery will become pared to legal minima, increasing the demand within our sector, particularly for Infomation and Advlce. where, in order to ensure comprehensive support where this is called for. time and therefore staffing costs per client are increasing. The charity sector is an increasingly vital component in dellverlng senilces and support to those over 50 and, frequently. also their families and carers. Page 5
AGE UK BERKSHIRE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (continued) FOR THE YEAR ENDED 31 MARCH 2023 HAIRMANS REPORT continued Our commitment to develop further our organisation In dellverlng qualty services, whether through or on behalf of statutory bodies or via our"charged for sepiice8 remains the very focus of our strategy. Roger Chester Chair of the Board of Trustees ACHIEVEMENTS AND PERFORMANCE We have continued to grow our reach and impact thls year. The type and length of support now required tends to require longer and more complex interventions for more people as new challenges arise, partiGularly around the rA)St of living, mental health issues and digital exclusion. Our local authorty commissioned services continue to grow and our fundlng for these remalns relatively stable, although llth the increases in costs (especially staffing costs) many of these have seen a real reduction in income levels versus costs. We continue to deliver services to a high stsndard that offer great value for money and outcomes to cc*nmlssioners, cllents and the general public. Hlghllghts In thls p•rlod Includ•: Ka•plng In Touch S•rvlca - deslgnad to support older people for a longer perlod of time- keepSng In touch with them- talking through their issuesl concerns and supporting them wlth early support to prev8nV delay any crfsl8 events In their Ilves. thls project has been supported by Woklngham Borough councll and has recently been commlssioned for the long temi. Domantla Frf•ndly - Ensurlng communlties, individuals and businesse8 understand the needs of people with dementia and their carers is a key focus. We work with a wide variety of stakeholders In the area to improve knowledge and understanding of dementia to ensure barriers to support are broken down and they feel included In their local area. Car•rn - Our work and support Sn this area continues to grow - ensurfng that carers are recognlsed and supported. We have carers support groups. deliver home vlsits and offer a wlde variety of infomiation and advice. In addition, we ensure that carers voices are heard in local authority strategies to ensure that they have access to re8plte arKI timely assessments In the future. Malntenance Cognltlve Stlmulallon Thorapy (MCST) and Damontla Actlvltl•s - w8 continue to expand our actlvities in this area ansuring there is a g(xxl variety of locally based activities whlch offer support to thoso wllh dementia and carers at the same tlme. Cost of Llvlng - the numbers of older people comlng through to our information and advice service has risen, the majority of these clients have come forward for benefrt checks, issues around paying bills or to apply for the household support fund (we have administered to older people in Wokingham Borough councll residents). We have worked with several local authorities to feedback on the needs and support required for older people through the current crisis and seek to ensure that they deliver easily accessible solutions (including those ft)r people who are not digitally enabled). We are part of the Hardship Alliance in Wokingham Borough bvorking with partners to ensure that all those who need help and support with the cost of living crisis have access to infomiation, advice and support. Integrated Carn System8 - as we work across the old County of Berkshire we are covered by 2 Integrated Care Systems. Our CEO is the Chair of the Buckinghamshire. Oxfordshire and Berkshire West (BOB) Ageing Well group and has been involved in influencing and inputting into their strategy and forward plan, ensuring that the health and wellbeing needs of older people and their carers are reflected in their forward strategy. Page 6
AGE UK BERKSHIRE TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (continued) FOR THE YEAR ENDED 31 MARCH 2024 OUR VOLUNTEERS We are continually grateful to our volunteers who support in the valuable delivery of our services. Their time and comrnitrnent to the organisation and the older people we support makes a real difference to the outcomes our clients receive. We have invested in our volunteer support to ensure can continue to recruit new volunteers. We continue to expand our volunteer numbers and the areas they support us with. PLANS FOR THE FUTURE Slrat•9y, bu•lnM8 plan and budgat Our updated strategy reflects our desire to support more older people across the Berkshire area and with our increase in legacy income this means we can plan and begin to deliver more of our seprfices across the whole of the Berf(shire area. Our prlorltles golng forward Include: Extend5ng our home from hospltal servlce Into further geogr8phlcal areas Investlng In our Inforniation arKI advlce servlce to ensure we can support tha Increased demand for thls key servlce Extending our handyperson service to new areas ExtendSng and revlewlng our actlve Ilvlng actlvltles Investing in our marketing and communications presence Ensuring we have acce&8ible hubs for oldor p8opl8 to access our servlces face to face. In 2024 we have ensured that our new services, staff and volunteers are fimily embedded in the charity and that we maxlmlse our hollstlc support to older people, ensurlng a wlde clrcle of support whllst improvlng thelr overall health and wellbeirg. Infiuondng and repr•••ntatlon Age UK Berkshire is proud to be regarded as an effective and infiuential partnèr in the area induding wlth the voluntary sector. health and social care authorlties. The support and collaboration of our partners Is Invaluable and we look forward to contlnulng to develop and evolve these relationships In the best Interests of older people. We work closely with Age UK to influence on a national basis and meet regularty wtth local MP'S to ensure that the needs and voice of older people is heard. Our work with the Reading Older People's Worf(ing Gr(xJp ensures collaboration and Cooperation between the local council and older people in Reading. Equallty, dlvor81ty and Inclualon We are committed to Serving all older people In our community. We are further embedding and continuously improving equality. diversity and indusion across service delivery. employment and volunteering. We are part of the Windrush consortium in Reading delivering activities and support to the generation and work closely with Reading Museum. Carfbbean Assoclations Group (CAG) and ACRE to maximise impact and awareness of thls work. Page 7
AGE UK BERKSHIRE TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (cx)ntinued) FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW The organisation Is funded by statutory authorities, grant funders, and our chargeable services, as well as from donatlons & legacles received. The charitable CoMpanS income totalled £1,736.856 {2023: £942,508), includlng dationS & legacies received of £543.267 (2023: 14,817). The charity generated a surplus of nat Incomlng resources before transfers of £674,178 (2023: £105,282). As 8t the y8ar ending 31 March 2024, the Charlty had unrestrfcted reseNes of £1.939.509 (2023: £1,133,764) of which £543,000 (2023., £543,000) have been deslgnated by the Trustees for future planned development. and remaining free reserves of £1.386,813 (2023: £579,793). Rosorves Pollcy Age UK B8rkshire Trustees consider tha( taking full account of the range of ser¥ices that are now provided to old and vulnerable people, reserves should be sufficlent to cover the flexibility required to cover cash flow and maintain adequate working capital of existing and budgeted increases in the services provided. Furthermore, Sn order to finance targeted growth over tha next 5 years, through the setting up of services which are Intended to become self-furKling. Trustees allocate funds from unrestricted resenies in respect of Identifled opportunitles to support mora older people. The Trustees regularly revlew the reserves, Including an assessment of the rlsks of unplanned dosure and potentlal IlabilitSes, and the policy in light of ongoing changes to the charity. Rlsk Managemont The organisation has a robust risk management procedure in place and this is reviowed and revised by the senlor management team and trustees on a regular basis. The blggest risk to the organlsatlon Is the income recelved from statutory bodies (both as contracts and grants). We have plans In place to mitigate this over the short and long term, these include: dSversificatlon of Sncome, commitment to expanding our fundraising, developing our marketing and communications to enhance our directly sold services and developing new partnerships that add reach or depth to the portfolio of services we provide. Page 8
AGE UK BERKSHIRE TRUSTEES, RESPONSIBILITY STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees. who are also directors of the charlty are responslble for preparlng the Trustees, Report and financial statements in accordance with appli¢abl8 law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Cornpany law requires th8 trustees to prepare financial ststements for each financial year, which give a true and fair view of th8 State of affairs of the charitsble company and of the incoming r&8ources and application of resources of the charitable cornpany for the year. In preparfng those finandal statements, the trustees are requlred to: select sultsble accountlng pollcies and then apply them conslstently; observe the methods and principles in the Charities SORP 2019 (FRS 102).. make judgements and estirnates that are reasonable and prudent. state whether applicable UK Accounting Stsndards have been followed, subject to any material departur8s disd08ed and explained in the financial Statements. prepare the financial statements on the golng concam basis unless It Is Inapproprlate to pre8ume that the company wlll contlnue In oparation. The trustees are responslble for keeplng prOr accountlng records whlch dlsclose wlth reasonable accuracy at any tlme the flnancial posltlon of tho company and to anable tham 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 detectSon of fraud and other Irregularities. Th18 report has been prepared In accordance wlth the Statement of Recommended Practlce: Accountlng and Reportlng by Chariti8s 2019 (FRS 102) and in accordanc8 wlth the special provlslons of Part 15 of the Companles Act 2006 relating to small companies. Approved by the TrusteeslDlrectors on 4 December 2024 and slgned on ts behalf by: Roge hester (Dec 6, 2024 09:51 GMT) Roger Chester Chalr of the Board of Trustees Page 9
AGE UK BERKSHIRE AUDITORS REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Opinlon We have audlted the finandal statements of Ag8 UK Berkshire (the charitable company) for the year ended 31 March 2024 which comprise the Statement of Financial Activities. Balance Sheet, Statement of Cashflows and notes to the financial statements. including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Stsndards. including Financial Reportlng Standard 102 The Finan.81 Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinlon the financlal statements: gNe a true and falr vlew of the state of the charftable company's affalrs as at 31 March 2024, and of its incoming resources and applScatlon of resources, Includlng Its Income and expenditure. for the year then ended; have b88n propedy prepared In accordance wlth Unlted Klngdom Generally Acceptad Accountlng Practice,. and h8ve been prepared in accordance wSth the requirements of the Companlas Act 21)06 and the Charities Act 2011, Bas1$ for oplnlon We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responslbilitles under those standards are further described in the Auditors, responsibilities for the audSt of the flnanclal statements sectlon of our raport. We are Independent of the charitable company In accordance with the ethical requirements that are relevant to our audit of the financial statements in Ihe UK, induding the FRC'S Ethlcal Standard. and we have fulfilled our other ethical responsibilities in accordance with these requlrements. We belleve that the audit evidence we have obtsined is suffiaent and appropriate to provide a basls for our opinton. Conclu•lon$ r•latlng to golng concom In auditlng the financlal statements, we have conduded that the tru8t8e8' use of the golng concem basls of accounting in the preparatlon of the financlal statements Is appropriate. Based on the work we have perfomied, we have not Klentified any materlal uncertalntles relating to events or conditions that, individually or collectively. may cast slgnlficant doubt on the charitable company's ablllty to contlnue as a going concem for a period of at least twelve month8 from when the financial statements are authorised for issue. Our responslbllttSes and the responsibllltles of the trustees wlth respect to golng concem are descrfbed in the relevant sectlons of this report. Oth•r Inforniatlon The trustees are responsible for the other infomiatlon. Th8 Other Infomiation comprises the inforrnation Snduded in the Annual Raport, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financlal statements does not cover the other infomiation and, except to the extent otherwise expllcrtly stated in our report, we do not express any ft)nn of assurance condusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other infonnation and, in doing so, consider whether the other infomiation is materially Inconsistent with the financial slatements or our knowledge obtained in the audit or otherwise appears to be mater5ally misstated. If we identffy such material inconsist8ncies or apparent mat8ri81 misstatements, we are required to detemilne whether this gives rise to a material misststement in the financial statements themselves. If, based on the work we have perfomied. 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. Page 10
AGE UK BERKSHIRE AUDITORS REPORT TO THE TRUSTEES (continued) FOR THE YEAR ENDED 31 MARCH 2024 Clnlons on other mattern prnscrfbed by tho Companles Act 2006 In our opinlon, based on the work undertaken In th& c(xJrse of the audit: the information given In the trustees, report, whlch Includes the dlrectors, report prepared for the purposes of company law, for the flnancial year for which the financlal statements are prepared is consistent with the financial statements., and the directors, report included within the trustees. report has been prepared in accordance with applicable legal requirements. Matters on whlch w• arn rnqulrnd to rnport by exceptlon We hav8 nothlng to report in rasp8Ct of the followlng matters where the Charlties (Accounts and Reports) Regulatlons 2008 requires us to report to you If, in our oplnS0n: the Informatlon glven In the Report of the Trustees Is Snconslstent In any materfal respect with the financial statements; or the charitable company has not kept adequate accountlng records; or the finarKial Statements are not in agreement with the accounting records and retums; or we have not received all the Inf0MtIOn and explanation8 we requlre for our audlt. Re•ponslbllltlg• of trnstO0• As explained more fully In the Statement of Trustees, Responslbllltles, the trustees (who are also the dlrectors of the charftable company for the purposes of company law) are responslble for the preparation of the financial ststaments and for being satisfied that they give a true and fair view, and for such intemal control as the trustees detemilne is necessary to enable the preparation of finanaal statements that are free from material misstatement, whether due to fraud or error. In preparfng the tlnanclal statements. the trustees are responslble for assessing the charStable company's ability to continue as a going concern. disdosing. as applicable. matters related to going concem and using the going concern basis of accounting unless the trustees etther Intend to Ilquidate the charitable company or to cease operatlons, or have no reallstic altematlve but to do so. Our rnsponslbllltl•8 for th• audlt of the Ilnanclal stat•m•nts We have been appolnted as auditors under Section 144 of Ihe Chafltles Act 2011 and report In accordance with the Act and relevant regulations made or havlng effect thereunder. Our objectives are to obtain reasonable 8ssur8nce about whether the financial statements as a whole are free from materfal misstatement, whether due to fraud or error, and to issue a Report of the Independent Audltors 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) w511 always detect a mat8rlal misstatement when k 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 ten on the basis of these financial statements. Page 11
AGE UK BERKSHIRE AUDITORS REPORT TO THE TRUSTEES (continued) FOR THE YEAR ENDED 31 MARCH 2024 The extent to which our procedures are capable of detecting irregularitss, induding fraud is detsiled below: We designed audit procedures to respond to the risK recognising that the risk of not detecting a materlal misstatement due to fraud Is higher than the risk of not detecting one resulting from error, as fraud may involv8 deliberate concealment by, for example, forgery, mbsrepresentations or through collusion. Procedures p8rfomi8d by the group audit team Included: Discusslons with management regarding known or suspectad instances of non-compliance wlth laws and regulations,. and Assessing loumals entrles as part of our planned audit approach. Evaluatlon of management Incentlves and opportunltles for fraudulent manlpulatlon of the fin8nclal statements Sndudlng management overrSde, and considering that the prfncSpal risk were related to the postlng of Inapproprlate loumal entrles to Improve the result for the year. There are Inherent Ilmltatlons In the audlt procedures d8scrlb8d abov8 and the further ramoved non- compllance with laws and regulatlons is from tho avènts and transactions reflected In the financial statements, the less likely we would become aware of it. As in all of our audits we also addressed the rfsk of management overrSde of internal controls, Includlng testlng Journals and evaluatlng whether there was evklence of blas by the trustees that repr&sented a rtsk of materfal m18Statement due to fraud. A further descrlption of our responsibilltles for the audit of the financial statements Is located on the Flnancial Reporting Council's website at . This description foms part of our Report of the Independent Auditors. U8• of our rnport Thls report Is made solely to the charltable company's trustees, as 8 body, Sn accordanc8 wSth Part 4 (* the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that We might state to the charitable companls trustees those matters we are requlred to state to them in an auditors, report and for no other purpose. To the fullest extent permltted by law, y do not accept or assume responsibility to anyone other than the charitable company and the charitable company's trustees as a body, for our audit work, for this report, or for tha opinions we have fomed. Eligible to act as an audltor in temis of Section 1212 of the Companies Act 2006 Gavln Whitter FCA CTA Senior St8tthoryAuditor Date: For and on behalf of: Ip Gibson Whitter Limited Larch House. Parklands Business Part( Forest Road Denmead Waterloovi118 Hampshire P07 6XP Page 12
AGE UK BERKSHIRE STATEMENT OF FINANCIAL ACTIVITIES (including Income & Expenditure Account) FOR THE YEAR ENDED 31 MARCH 2024 Unrnstrlct•d R•strfctad funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Notos Incom• and ondowments from. Donations & legacies Charitable Activities Other trading activities Investments Other Income 543,267 1.089,854 73 42,070 543,267 51,362 1,141,216 73 42,070 11,517 828,093 118 29,530 225 3,300 69.725 14,817 897,818 118 29,530 225 Totsl Incom• 1,685,494 51,362 1,736,856 869,483 73,025 942,508 Ralslng fund5 Charltable Actlvltles 9,224 9,224 61318 1053 454 8,124 771750 8,124 829 103 Total r•sourc•8 •xwnd•d 1,001,360 61,318 1,062,678 779,874 57,353 837,227 N•t Incoffllngl(outgolng) r••ourc•s b•for• tran8f•r• 684134 (9,956) 674,178 89,610 15,672 105,282 Transfers between funds Actuarfal galnl(loss) on defined benefit penslon Realis8dlUnreallsed galns on Inv8Stm8nts (980) 38,000 986 (2,549) 241,000 2,549 38,000 241,000 84,597 84.597 (86,617) (86,617) N•t In¢omel(oxpendlture) lor the year I n•t movoment In funds 805,745 (8,970) 796,775 241,444 18,221 259,665 Fund balances at 1 April 2023 1,133,764 18,221 1,151,985 892,320 892,320 Fund balancos at 31 March 2024 1,939,509 9,251 1,948,760 1,133.764 18,221 1,151,985 The ststement of financlal actlvities Includes all gains and losses recognised in the year. All Income and expenditure derlves from continuing activities. The statement of financial activltles also complies wlth the requirament for an income and expenditure account under the Companies Act 2006. Page 14
AGE UK BERKSHIRE BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Notes Flxed assets Tangible fixed assets Investrnents 13 14 9,696 1716272 1,725,968 10.971 954.057 965.028 Currnnt assets Debtors Cash at bank and in hand 15 122,672 96.105 337.790 433.895 388,618 Credltorn: amounts lalllng duo wlthln 1 year 111938 Not currenl as•ots Not A88Ots bofore pen8lon Ilablllty 319 792 2,045.760 321,957 1,286,985 Defined benefrt pension Scheme liability (97.000) (135,000) Nol A880ts 1,948,760 1,151,985 Fund• Unrestrlcted funds DesTrgnated funds Dafined benefit penslon scheme15ablllty 1,493,509 543.000 725.764 543,000 135 000 1,133,764 19 1,939,509 RestriGt8d funds N•t funda 17 18 1 151985 The charitable company Is entitled to the exemption from the audit requirement contalned In sectlon 477 of the Companies Act 2006, for the year ended 31 March 2024. No member of the charitable company has deposited a notlce. pursuant to section 476. requiring an audit of those accounts. The Trustees acknowledge their responsibillty for complying with the requirements of the Companles Act 2006 wlth respect to accounting records and the preparatSon of accounts. These financlal statements have been prepared in accordance wlth the provislons applicable to companies subject to the small companies reglrne. The accounts were approved by the Board of Trustees on 4 December 2024. Roge hester (Dec 6, 2024 09:51 GMT) Roger Chester Chair of Trustees Company Number 07928260 Page 15
AGE UK BERKSHIRE STATEMENT OF CASH FLOWS AS AT 31 MARCH 2023 2024 2023 Cash flows from operatlng actlvltle5 Net movement in funds for the year Investment income Interest received Depreciation Fixed asset retirement Investment management fees (Increase)Idecrease in debtors Increasel(decrease) in creditors 674,178 (36,842) (5,228) 7,845 105,282 (29,392) {138) 10,234 9,224 (26,567) 43,112 8,124 140,113 53,033 Net cash provld•d byl(u8ed In) oporatlng actlvltlos 579.498 287,256 Cash flow from Inve8tlng actlvltles Transfers {to)Ifrom Investments Purchase of fixed assets Interest received (650,000) (6,570) 5.228 (2,208) 138 Net cash used In Inve8tlng Actlvltlos 651.342 2,070 Net Incroasol(docreaso) In cash and cash equlvalents (71,844) 285,186 Cash and cash equlvalents at 1 Aprll 2023 Cash and cash equlvalents at 31 March 2024 337,790 52,604 Cash and cash equlvalents conslsts of.. Cash at bank and in hand 337 790 Page 16
AGE UK BERKSHIRE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024 1 Accountlng pollclos Charlty Infomiatlon Age UK Berkshire is a charitsble company limlted by guarantee, incorporated In England and Wales. The register8d office is 119 Broad Street Mall. Reading. Berkshire. RG17QE. Age UK Berkshire was the sole shareholder of Age UK Berkshire Trading Ltd., incorporated in D8cember 2012 to trade in non-charitable activities and products. Profits from this cornpany Vre donated via gift-aid to Age UK Berkshire, The non-charitable purposes ceased In 2018 followlng whlch Age UK Berkshlre Tradlng Ltd. became donnant. There were no assets remaining. It has now been removed from th8 Reglster of Companles h8vlng been formally dissolvad on 20 Jun8 2023. 1.1 Accountlng conv•ntlon The financial staternants have been prepared in accordance with the charitable companys memorandum and artlcles of association, the Companles Act 2006, th8 Financial Reporting Standard applicable In the United Kingdorn and Republlc of Ireland (FRS102). AccounlSng and Reporting by Charities: Statement of R8comm8nded Practice applicable to charityes preparing their accounts in accordance with the Financial Reporting Standard appllcable In the UK and Republic of Ireland issued in October 2019, UK Generally Accepted Accountlng Practice and appllcable charrty and company law. The charStable company is a Public Benefit Entity as defined by FRS102. The financial ststements are prepared In sterflng, which is the functional curroncy of the charitsble company. Monetary arnounts Sn these financial statements ar8 rounded to the nearest £. The flnancial statemgnts have been prepared under the hlstorfcal cost conventlon. The principal accounung pollcles adopted are set out b610w. 1.2 Golng concem At the tlme of approvlng the flnanclal statements, the Trustees have revlewed tha golng concem of tha charlty and conslder that the charity h8S 8dèquat8 resource8 to contlnue In operational ex18tence for the fore8eeable futur8. 1.3 Charltable funds Unrestrlcted and deslgnated funds are avallable for use at dlscretlon of the Trustees In furtherance of thelr charltab18 oblectlves, Restricted funds are subject to speclflc condltlons by donors as to how they may ba used. Tho purposes and usos of the restrScted funds are Set out in the note8 to the accounts. Transfers are made betsveen funds when adequate Justificatk)n 8nd supportSng evidence Is provided. 1.4 Funds Hold a• Agènt and Custodlan Tru•t•• Funds Held as Agent Where the charity holds and administers funds as an agent on behalf of third parties. receipt of these funds are not treated as income of the charity nor are distribution of these funds treated as expenditure of the charity. Balances held on behalf of third parties aro disclosed in the notes to the financial ststements, along wlth a reconcllSatlon of movements In the year. Funds received and distributed in the capacity of agent are accounted for on a cash basls. The balance of funds held at the year end is not recognised as an asset within the financial statements as the funds are not within the control of the charity. Funds Held as Custodian Twstse Where the charity acts as a custodian Irustee, it holds and administers funds for third parties but has no dlscretion over their use. These funds do not fonn part of the charitys own resources and are therefore excluded from the Statement of Flnanclal Actrvities. The balances held as custodian trustee are disclosed in the notes to the financial statements, with a detailed analysls of the funds held, movements during tha year. and the year-end balance. Page 17
AGE UK BERKSHIRE NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 MARCH 2024 1 Accountlng pollcl•s (continued) 1.5 Incomlng resources Grants are accounted for on an accruals basis and allocated between funds according to the basis of the grant being provided. Grant income is recognised when the charity is entitled to it after performance conditi'ons have been met, the amounts can be measured reliabty and it is probable that the income will be received. Where the charitable company Is requlred to repay any part of the grant a provision is made for the amount due to be repald. All income is Included In the statement of financial activities when the charltable company Is entltled to the Income and the amount can ba quantified wlth reasonable accuracy. The following specrfic policies ar8 applied to particular categorles of Incoma: (i) Vduntary income Is recelved by way of donatlons and gifts and is included In full In the statement of financial activities when receivable. (il) Donated services and facilities are included at the value lo the charitable company where thls can be quantlfled. The value of servlces provSd8d by volunteers has not been Included In these financ5al statements as St Ss dlfflcult to quantlfy thls value wlth reasonable accuracy. (111) Investment Income 58 Included when receivable. (iv) Incom8 from charitable activitles relate to grants and servlc8 lev81 agreements. Th8s8 aré rècorded when the charitable company becomes unconditionally entitled to the grant or the perfomiance criteria of the serviGe level agreement has been satisfied. 1.6 R•8ourc•• •xp•ndod Expenditure Is recognised on an accruals basls a8 a Ilablllty18 Incurred. Expend5ture includes any VAT which cannot b8 fully recovered, and is reported as part of the expenditure to which It relates: (l) Expendlture on raislng funds comprise the costs assodated wth attracting voluntsry Income and the costs of fundralslng actlvltles. (li) Charitable expenditure comprlses those costs Incurred by the charitable company in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to Such actlvltles and those costs of an indirect nature n8c8ssary to support them. {111) All costs are allocated betrNeen the expendbture categorfes In the statement of financlal actlvltl88 on a bas18 designed to raflact the us8 of the resource. Costs relatlng to a particular actlvlty are allocated dlreclly, other are apportJoned on an appropriate basis. 1.7 Tanglbl• flxed a$$•ts Tangible fixed assets are Inltlally rneasured at cost or. where donated, at valuation at th8 tlma of acquisitlon. DepreciatK>n is provided at rates calculated to write off the cost less estimated residual value of each asset over Its axpected useful lrfe, as foll0v. Fixtures Fumiture & equlpment Computers 6 years straight line 3 years straight line 3 year3 Straight Ilne The gain or loss arlslng on the disposal of an ass8t is d8termin8d as th8 difference between the sale proceeds and the carrying value of the asset, and Is recognised in net incomel{expenditure) for thè year. 1.8 Impalrnient of fixed assets At each reporting end date, the charitable company reviews the carrylng amounts of rts tangible assets to detemilne whether there is any indication that those ass8ts have suffered an irnpainnent loss. If any such indication exists. the recoverable amount of the asset is estimated in order to deterniine the extent of the impainnent loss (if any). 1.9 Cash and cash equivalents Cash and cash 8quivalents include cash In hand. deposits held at call wlth banks, oth8r short-temi liquid investrnents with original maturiti8s of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. Page 18
AGE UK BERKSHIRE NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 MARCH 2024 1 Accounting policios (continued) 1.10 Flnanclal Instruments The charitable company has elected to apply the provlslons of Section 11 'Basic Financial Instrum8nts' and S8Ction 12 '0ther Financial Instruments Issues, of FRS102 to all of its financial Instruments. Financial instruments are recognised in the charitable companjls balance sheet when tha charitable company becomes paty to the contractual provlsions of the instrument. Financial assets and liabilities are offset. wlth the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognlsed amounts and there Is an Intentlon to settle on a net basls or to realise the asset and settle the liabilty simultaneously. Baslc Ilnanclal assots Basic financlal assets, whlch Indude debtors and cash and bank balanc88, are Initially measured at transactlon prfce including transaction costs and are subsequently carrled at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction. where the transaction is measured at the present value of the future receipt8 dlscounted at a market rate of interest. Flnancial assets classified as recelvable wlthln one spar are not amortlsed. Ba•k Ilnanclal Ilabllltle• Baslc financlal IlabS1itles, Including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financlng transaction, where the debt instrument Is measured at the present value of the future payments discounted at a market rate of interest. Financlal liabilities classtfied as payable within one year are not amortls8d. Debt Instruments are subsequ8ntly carrled at 8mortSsed cost, U85ng the effectlve Interest rate method. Trade credltors are obligations to pay for goods or seNices that have been acquired In the ordinary course of operations from suppliers, Amounts payable are classlfied as current Ilabilities If payment Is due within one year or less. If not, they are presented as non-current liabillties. Trade creditors are recognised Inltlally at transactlon prlce and subsequently measured at amortlsed cost uslng the effective interest method. D•rocognltlon of flnanclal Ilabllltl•¥ Financial Ilabllltles are derecognised when tha charitable companys contractU81 oblSgatlons expire or are discharged or cancelled. 1.11 Employee benoflts The cost of any unused hollday entltlernent is recognised in the period in which the employee's servlces are received. Termination benefits are recognlsed immedlately as an expense when the charitable company is demonstrably committed to terminate the employment of an employee or to provide temlnation benefits. 1.12 R•tlrnm•nt bonofits In respect of some stsff the charitable company contributes to a superannuatlon scheme at rates sel by the scheme actuary and advised to the charitable company by Ihe scheme administrator. For other Staff, the charitsble company operated a defined contrlbutlon scheme under autowenrolment. ContrSbutk)ns payable are charged to the stst8ment of financial activities in the year in which they are payable. 1.13 Operatlng Leases Rentals payable under operating leases are charged as an expense as they fall due. 1.14 Crnditors and provlsions Creditors and provisions are recognised where the charitable company has a present obligation resulting from a past event that will probably result in th8 transfer of funds to a third party and the amount due to settle the obligatk)n can be rneasured or estimated reliably. Creditors and provisions are nomially recognised at their settlement value. Page 19
AGE UK BERKSHIRE NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 MARCH 2024 1.15 Debtors Debtors are recognised at the settlement amount due. 1.16 InvlMents Investrnents are Includ8d at closlng mld-market values at the balance sheet date. Gains and losses on revaluation are taken to the Statement of Financial Activities. Investments are managed by Quilter Cheviot Asset Management, Long Acre, London. WC2 9RA. 1.17 Taxatlon The charitable Company is exempt from corporatlon tax on Sts charftable activlties. 2 Crltlcal accountlng ••tlmate• and Judgements In the application of th8 charitab18 company s accounting policies, the Trustee8 are required to make Judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The e8tlmates and underlylng assumptlons are revlewed on an ongolng basls. Revlslons to accountlng estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future perSods where the revlslon affects both current and future periods. There were no Judgment or matarfal astSmation uncertainties 8ffectlng the reported financial performance in the current or prbr year. 3 Donallon• and16gaclo8 Unr••trlct•d R••trlct•d fund8 funds 2024 2024 Total Total 2024 2023 Donations and gifts Legacies receivable 9,947 533 320 9,947 14.317 500 543,267 543,267 14.817 For the year ended 31 March 2023 11,517 3.300 14,817 4 Charftable actlvltle• Unrestrlct•d R•gtrlct•d 2024 2024 T¢)tal 2024 Total 2023 Active Living Befrfending Charged for Services Crisis Prevention Support Dementia Support Grant Admlnlstration Help Around the Homa Infomiatlon & Advice Non-seNice specific 40.170 67,926 186,876 282.997 289,820 18,454 18,857 10,714 58,624 26.750 86,783 80,516 197,590 136.016 282,997 154,010 292,157 236.618 43,500 149,896 141,024 59,119 49.343 050 2.337 149,896 59,119 1,089,854 51,362 1,141,216 897.818 For the year ended 31 March 2023 828,093 69,725 897,818 Page 20
AGE UK BERKSHIRE NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 MARCH 2024 4 Charltabl• Actlvltes (continued) The above income includes local authority grants of £861.309 (2023: £625.020) In relation to service level agreements,specific govemment funded projects and adrninistration of the Household Support Fund. Unrestrlcted Restrldgd Total 2024 2024 2024 Total 2023 GranVSeDilce level agreements Charged for Services Grant incom8 839,411 237,393 839,411 625,020 237.393 177,533 1,089,854 828,093 51.362 1,141.216 897,818 69, 725 897,818 For the year ended 31 March 2023 5 Othèr tradlng aGtlvltle• Unr•strlct•d Rostrfctod fund8 funds 2024 2024 Total Total 2024 2023 Fundraising Income For the year ended 31 March 2023 6 Inv•8tm•nt Incom• 73 73 118 118 It8 2024 2023 Investment income Bank interest 36.842 228 29,392 138 All Investment Income for the current and prlor year was unrestrfcted. 7 Othar Incom• 2024 2023 Other Income All other Income for the current and prfor year was unrèstrfcted. Unrn$trl¢t•d R•strlct•d fund• funds 2024 2024 225 8 Cogt of ralslng funds Totsl Total 2024 2023 Investment management fees For the year ended 31 March 2023 8,124 8,124 9 Charftablo actlvlty owndftur• Unrostrlctod R•8trlct•d fund• funds 2024 2024 Total Total 2024 2023 Active Living Befriending Service Charged for Servlces Crisis Prevention Support Dementla Support Grant Administration Help Around the Home Infomiation & Advice Non-project specif 8,376 26.773 193,952 115.709 183,749 29.284 10.566 10,714 31 37,660 29.211 37.339 42.092 204.668 168.110 115,740 46.905 187.211 144,919 7,261 35.279 77,273 72,189 38,446 25.538 839 7,261 77,273 38.446 839 645.117 327.999 19.020 992.136 771, 750 61,318 706,435 564,243 327,999 254,581 10.279 61,318 1,053,454 829,103 57,353 829,103 Support costs (see note 10) Govemance costs (see note 10) For the year ended 31 March 2023 Page 21
AGE UK BERKSHIRE NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 MARCH 2024 10 Support and gov•mance costs Unre8trfcted Restrfcted funds funds 2024 2024 Total Total 2024 2023 Support Staff costs Administration costs Depreciatlon Fixed Asset retirement 178,700 141,454 178,700 159,987 141,454 84,360 7,845 10,234 Gov•rnanc• Auditllndependent examinatlon Accountancy Legal and profe3sk)nal fees Tru8tee8' meeting expenses 6,570 6.570 1,850 6.912 1,517 4.288 518 4,288 518 347,019 347,019 264,860 For the year ended 31 ma 2023 260,573 4,287 264,860 Govomanca sts Includes £nil (2023: £2,000) In respect of the independent examination, and £6,570 (2023: £nll) In respect of the audlt. 11 Tru•ts•• None of the Tru8tees (or any per8on8 connected with them) received any remuneration or relmbursed expense8 during the current or prlor year. The Charity8 Insurance pollcy Includes trustee Indemnlty Insurance. 12 Employe•• Numbor of •mploy•o• The average monthly nurnber of employees durfng the year was: Management Other 2024 2023 Numb•r Number 45 47 Employment costs 2024 2023 Wages and salarles Social security costs Pension costs Other staff costs 575,085 455.102 28,876 21.645 18.044 22,598 653.968 527,994 There were no employees vthose annual remuneration was £60.000 or more. The aggregate remumeration of key management personnel during the year was £83,637 (2023: £87.230) In a(Sdition, a great amount of tlme, the value of whith has not been reflected in these financial statements, is donated by our many volunteers. Page 22
AGE UK BERKSHIRE NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 MARCH 2024 13 Tanglblo Flxed Assets Offlc• Equlprnent Flxturns & Flttlngs Computer Equlpment Total Cost At 1 April 2023 Additions Disposals At 31 March 2024 6.935 27,483 27,944 6,570 62,362 6,570 6,935 27,483 34.514 68,932 Dopreclatlon At 1 April 2023 Depreciation charge during the year Eliminated on dlsposal At 1 Aprll 2023 6,935 18,322 4.581 26,134 3,264 51,391 7,845 6,935 22,903 29,398 59,236 Net Book Value At 1 Aprll 2023 9,161 1,810 10.971 At 31 March 2024 4,580 5,116 9,696 14 Invo8tm•nts Investments held by the charftsble company are extemally managed by Qullter Cheviot. An annual report has been provided by them as follows: 2024 2023 Market valu8 at 01 Aprll 2023 Additions in the year Cash introduced Obsposal proceeds Realised and unrealised galns Market value of Inve8tmenl8 at 31 March 2024 936,117 311,528 986,636 91,857 (153,218} (55,759) 86,617 936,117 1,179,025 Hlstorlcal cost of Investments 933 220 927 524 Cash held by investment manager 537 247 Total valu• of Invostrnonts at 31 March 2024 1,716,272 954,057 Investments at market value comprised of: UK fixed interest securities Equities Altemative Investments Cash and Cash Products 339,802 671,546 117,182 587 742 198,755 561,781 118,096 75,425 Total market valu• of Inv•stm•nts at 31 March 2024 1.716,2n 954.057 Page 23
AGE UK BERKSHIRE NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 MARCH 2024 15 Dgbtors: amounts falllng due wlthln one year: 2024 2023 Trade debtors Prepayments and accrued income Other debtors 41,724 80,384 74,514 19.464 122,672 96.105 16 Crndltord: amounts falllng du• wlthln on• ar. 2024 2023 Trada crédltors Other taxatlon and sod81 securlty Other creditors Accruals & deferred income 20,375 12,387 3.069 14.201 8.220 19,818 68.826 111,938 17 Rostrlcted funds Mov•m•nl In funds Balance at Incomlng Resource• 1 Aprll 2023 rnsourc•s •xponded Balanc• at 31 March 2024 Tran8f•rn Age UK COL grant Twyford Gardeners West Berks Wlnter Fund Woklngham Unlted Charities Bracknell ForesVFrlmley NHS utley Famlly Foundatlon - Power of Muslc 10,000 29,265 2,240 (39,421) {3,070) <7,221) (40) (10,566) 156 830 7,221 960 8,291 18,857 18,221 51,362 (61,318) 986 9,251 Prioryear Movement In fund• Balanc• at Incomlng Ro8ourc•• 1 Aprll 2022 r•sourc•• expendod BalanGg at 31 March 2023 Trnnsf•r8 Age UK COL granl Mobbs Memorial Trust NHS Charities Together Twyford Gardeners West Berks Winter Fund Wokingham Untted Charftles 10,000 3,300 8,725 10,000 (3.300) (8,725) (2,549) (42,779) 2,549 50,000 7,221 73.025 (57.353) 2,$49 18.221 Page 24
AGE UK BERKSHIRE NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 MARCH 2024 17 Restrlcted funds (continued) e UK Cost of Livin Grant - providing domestic support for older p8opI8 to maintain thalr independence through the provision of handyperson and gardening, maintain or increase attendance at physical activity sessions or social groups. ord Gardeners - Gardenlngl allotment project In Twsrfordl Ruscomba utillslng the power of gardènlng to improve older peoples mental health, West B rk hi Win Household support for persons of pensionable age, including infomiation & advice. Wokin ham United Charities - a grant towards hospltal transport costs for the resldents of Woklngham Borough Council when other avenues aren't avallablelapproprlate. ra Friml NH - a grant to support the Befriending Seprfice in Bracknell. rnil Found tion P - a grant to support Memory Lane dementia singlng groups. 18 Analy818 of not a880ts tWo6n fund• Not Curr•nt Flxod A•80ts Inv•stm•nts A88•ts I (Llabllltlesl 110,541 200,000 Dofln•d Bonoflt P•n•lon 8ch0me Total 2024 Unrestrlcted general fund Designated fund Pension fund Restricted fund 9,696 1.373,272 343,000 1,493.509 543,000 197,000) (97,000) 9,696 1,716,272 319,792 (97,000) 1,948,760 Net Current Assgts / (Llabllltles) 103.736 200,000 Defined Benefft Penslon Scheme Piioryear Fixed Assets Investments Total 2023 Unrestricted gonar81 fvnd Designated fund Pension fund Restn'cted fund 10,971 611,057 343,000 725. 764 543,000 (135,000) (135,000) tO,971 954,057 321,957 (135,000) 1, 151,985 19 Pon•lon$ The charitable company is a member of the Royal County of Berkshlre Penslon Fund. ThSs is a muftl- employer scheme of which the charitsble companys share of the underfylng assets and Ilablliles can be Klentified. Funding approach: The Employer currently participates in the Admitted Bodies pool with other employers in order to share experience of risks they are 6xpos8d to in the Fund. At tha 2022 valuation. the d8ficrt for th8 whole pool was CAlculated and allocated to each employer in proportion to their value of liabilities. The next reallocation will be caThied out in the 2025 valuation, should the Employer r8main in the pool. Each employer within the pool pays a contribution rate based on the cost of benefits of the individual membership of the Fund. Page 25
AGE UK BERKSHIRE NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 MARCH 2024 19 Pgnslons (continued) The followin9 figures have been taken from the Actuarial Valuation of the scheme carried out by Barnett Waddingham at 31 March 2024 The main assumptiDns used buy the actuary were as follows.. Discount rate Pension increases (CPI) Salary Increases From 1 January 2013 the expected rate of retum on asset is replaced by a single net interest cost which will effectlvely set the expected return equal to IAS19 discount rate. 31 March 2024 31 March 2023 4.85% 2.90% 3.90% 2.90% 3.90% 31 March 2024 31 March 2023 £000 Net pension assat as reported by Actuary Estimated employer assets Present value of scheme118bilitles N•t Pon•lon aM•V{Ilablllty) 703 838 (135) 197) Tho rgconclllallon of as•ets wa•: 31 March 2024 31 March 2023 £000 £000 Opening fair value of scheme assets Interest on Assets Retum on Ass8ts less Interest Admlnlstratlon expenses Actuarlal (lossesygalns Contrlbutlons by employer Contributlons by schame partScSpants Beneflts pald (esl) 703 33 29 713 18 {17) 25 (1) 12 11 58 (1) 12 10 38 703 Th• r•conclllatlon of Ilabllltl•s wa•: 31 March 2024 31 March 2023 £000 £000 Openlng defined benefit obllgatlon S8rvlc8 cost Interest cost Change in Financial assumptions Change in demographlc assumptlons Experience {loss)Igain on defined b8nefrt obllgation Benefits paid Contributions by scheme participants Closlng d•flnad b•n•fit obllgatlon 838 1,089 27 28 (360) (31) 132 (58) (4) (13) 138) 10 838 Amount r•cognlsod In th• Actuarlos Proflt and Loss Account 31 March 2024 31 March 2023 £000 Serlce cosl Net interest on defined liabilty (asset) Administratlon expenses Net rnv•nuo cost l (income) 27 10 17 38 Actuarfal (lossygaln on defined beneflt ponslon 31 March 2024 31 March 2023 £000 Increasel{decrease} in fair value of scheme assets (Increaseydecrease In defined benefrt obligation Actuarfal (Ios8)Igaln on defined benefit penslon (10) 251 241 38 Pag8 26
AGE UK BERKSHIRE NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 MARCH 2024 20 Operatlng lease commltments At the reporting end date the charitable company had outstsnding commitrnents for future minimum lease payTnents under non-cancellable operating leases. which fall due as follows: 2024 2023 Within one year B8tween two and five years More than five years 29,170 62,559 29,170 91.963 91,729 121,133 21 Rolated Party Tran8actlon8 No directorltrustee recelved any remuneratSon or wa8 relmbur8ed for any expenses In the year (2023: £nll). There were no other related paty transactlons. 22 Funds held as Ag•nt and Custodlan Trusts• The charity administers funds on behalf of other organisation8 as an agent and a8 a custodian trustee. These funds are not included within the statement of financial activities as they do not represent the charity8 own resources. The balance of these monies held do not belong to the charity and are not indudad in these accounts. The movements on these funds and the balances held at the year end are detalled below. Analy&'s of funds held as an Agent and as Custodlan Trustee Capaclty of Op•nlng Holdlng Balanc• Agent Funds R•celv•d Funds Pald Out Clo•lng Balanc• Dementla Frlendly We8t Berkshire (DFWB) West Berkshire Houslng Support Fund Anonyrnou8 7,810 (2,843) 4,967 Agent 40,000 (2.040) 37,960 Agent (2,127) 14,775 (3.905) 8.743 (2.127) 62,585 (8.788) 51,671 Advocacy Cllents Custodian Trustee 448,786 255,660 (342,201) 362,246 Total funds hold as Agont and Cu8lodlan Tru•ts• 446,659 318.246 (350.989) 413,916 Dementla Frfendly West Berkshlre (DFWB).. held as Agent, DFWB is a group of individuals, volunteers and organisations, including local businesses, the local authorty, the emergency services, charities and more who aro committed to working together to make West Berkshire more dementia friendly. They work together with peopla livlng with dementia and their carers to ensure their voices are heard. The aim and purpose Is to raise awareness of d8m8ntla, Increase th8 range and div8rsity of s8rvic85 available, reduc8 lonlin8ss and isolatlon, and incraasa inclusivty and support. The fund was pr8viously administered by West B8rkshirn Council. West B•rkshlrn Housohold Support fund.. held as Agent and distrlbutlng on behalf of West Berkshire Council. Funding is to support the residents of West Befkshire wrth food, energy, wider essentials relating to food and energy {l.e. dothing), and household essentlals. Anonymous Fund.. held as Agent from donors who wish to remain anonymous to award small grants to older people aged 60+ who are resldent in Berkshlre who are In need of some financial asslstance. Appllcations can only be made once per annum wilh a maximum of £1,800 and only one award can be made in any 3 year peri¢xl. Any award must be for the purchase of goods or services, there are no cash awards. Page 27
AGE UK BERKSHIRE NOTES TO THE ACCOUNTS (continued) FOR THE YEAR ENDED 31 MARCH 2024 22 Funds held as Agent and Custodlan Trustee (continued) Advocacy Clients." held as Custodian Trusteo. Thè charity provid8s financial advocacy services to old8r p8opl8. A Barclays Bank plc Client Account is maintsined to hold monies held on behalf of advocacy dients, plus a Current Account and Savings account for working capitsl on day to day Spending. Individual records for each client are maintained, with income and expenditure being detailed. The charity has no involvement in the decision-making process regardlng the expendlture of these funds and no beneficial interest in the assets. THANK YOU Age UK B•rkshlrn would Ilk• to •xt8nd th•lr thanks to th•lr fund•r• and supportars, Includlng: Wokingham Borough Counc51 West Berkshlre Coundl Reading Borough Councll Bracknell Forast Councll Frfmley ICB Twyford & Ruscomb Parish Coundl8 Wokingham United Chariti88 Sp•clal thanks to the legator• who loft mon•y to us In th•lr wlll: Edna Hlgglns Helen Mosselmans Sheila Coates-Perkin Page 28