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2024-03-31-accounts

ACTION FOR CARERS (OXFORDSHIRE) LTD REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

REGISTERED CHARITY NUMBER: 1149577 COMPANY NUMBER: 08125002

ACTION FOR CARERS (OXFORDSHIRE) LTD

CONTENTS
LEGAL AND ADMINISTRATIVE INFORMATION 1
TRUSTEES’ REPORT 2
INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES 12
STATEMENT OF FINANCIAL ACTIVITIES
(INCLUDING INCOME AND EXPENDITURE ACCOUNT) 16
BALANCE SHEET 17
NOTES TO THE FINANCIAL STATEMENTS 18
INCOME AND EXPENDITURE ACCOUNT 28

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ACTION FOR CARERS (OXFORDSHIRE) LTD

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr A Lane Mr W Norton Dr J Wardle (Resigned 9 September 2024) Mrs S Foulsham Ms J Buckingham Dr M J Watts (Resigned 31 November 2023) Ms R H Graham Ms H Scott (Appointed 9 September 2024) Chief Executive Mr P Ringer Secretary Ms J Elliott Charity number 1149577 Company number 08125002 Registered office Unit 9 Napier Court Barton Lane Abingdon OX14 3YT Auditors Wenn Townsend 30 St Giles Oxford OX1 3LE Bankers Lloyds Bank Carfax branch 1 High St Oxford OX1 4AA

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TRUSTEES’ REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

Objectives and activities

Charitable purpose

The objects of the charity to promote the relief of carers in any manner which now or hereafter may be deemed by law to be charitable in and around Oxfordshire (hereinafter called "the area of benefit") the charity shall have the following powers exercisable in furtherance of its said object but not further or otherwise, namely;

(1) to provide and assist in the provision of information, advice and offer other assistance to carers.

(2) to encourage and provide services for those requiring care which take account of the needs of carers and if thought fit to make reasonable charges for any services provided hereunder.

(3) to raise public awareness, principally in the county of Oxfordshire.

(4) to communicate between carers, policy makers and other services supporting carers, enabling carers to have an effective voice and an informed representation in policy making and service development.

(5) to encourage the exchange by carers, policy makers and other services of useful information and best practice in carers' issues and promote and encourage carers' groups and support schemes principally in Oxfordshire.

(6) to pursue any other charitable purpose.

Our overall vision: unpaid carers of all ages in Oxfordshire are valued and supported in living their lives to the fullest. Our priorities are:

Priority 1: To identify carers and effectively support them, improving their health and wellbeing and providing opportunities for a break from their caring role.

Priority 2: To safeguard adult and young carers at risk who need more support to look after themselves, particularly during times of change and transition.

Priority 3: To encourage and enable carers to have an active life outside their caring role, including fulfilling their education, employment, and training potential.

Our commitments

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Our Values:

Caring

Listening and amplifying people’s voices Enabling and empowering, working alongside people to identify solutions Passionate for better Collaborative

The strategic objectives set out in our organisational strategy 2022-25 are available on our website.

CHAIR & HEAD OF SERVICE REPORT

At Action for Carers Oxfordshire we exist to make life better for unpaid carers. We do not do this alone. We have an amazing community who support us and work with us to thank.

Let us begin with the people at the heart of our work. The thousands of unpaid and informal carers we supported this year, who have in turn provided us inspiration, motivation, and insights from which we continue to learn from; and to our colleagues and volunteers, including our Board of Trustees, who put carers at the heart of their work, we couldn’t have the impact we have had without your efforts, determination, and compassion.

Thank you to our individual funders and supporters who believe in us and back us all the way. Most notably Oxfordshire County Council, and the people who work for them. You enable us to do great work, scale our impact and offer your skills and expertise in kind to that end, thank you. We deeply appreciate your trust, your enthusiasm, and your support. To our campaigners who stand up, speak out, and are counted. Thank you. You are a powerful voice amplifying what matters most on the side of carers.

2023-24 was a year of both change and challenges. We thank the outgoing CEO, Penny Thewlis, who after a considerable tenure of 23 years, including 7 years as CEO, stepped down in September with a plan to put the charities mission of living life to the full into practice herself, and to Kay Francis (Head of Service) who left during 2023. While this report talks about our work last year, we cannot but reflect on these challenging times – the crisis in health and social care, the relentless impact of the cost-of-living increases, the lingering aftereffects of the coronavirus pandemic has had on people cared for and their carers lives, and the consequences of that for us at Action for Carers Oxfordshire.

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This is our first joint Annual Report as Chair and new Head of Service. We have both taken on our roles with a very clear recognition of the impact that Action for Carers Oxfordshire can have through changing and challenging times. Delivering positive impact for people is what drives us, as does the exciting potential we see ahead. Our support for carers and our workforce must adapt to weather the seasons. It is an important and exciting time to be leading this charity.

We are optimistic about our future, and on a good financial footing to be able to plan wisely yet ambitiously. We take that responsibility seriously and always with the knowledge that every penny matters in terms of the support that we can offer to each carer across the county.

Public Benefit

The Trustees take into account the Charity Commission’s guidance on public benefit and are able to confirm that the activities of Action for Carers Oxfordshire, which are designed to promote the welfare of carers, are in line with that guidance, as set out in in the Chair’s report below.

We work with all unpaid carers across the county but focus most resource on tackling inequality and reaching carers who face a struggle, whether through low income, poor health, the extent of their caring responsibilities and / or isolation and loneliness.

Achievements and performance

Looking back – Our achievements against our agreed objectives for 2023-24 were:

  1. Focus on ensuring that the new Carer Strategy is delivered and that carers are involved in monitoring its progress against measurable priorities.

The All-age Unpaid Carers Strategy for Oxfordshire was launched in August 2023, following consultation and co-production with carers and professionals. Our clearly defined objectives are regularly monitored through an action plan overseen by a panel co-chaired by an unpaid carer and attended by professionals and carers.

  1. Develop our own organisational strategy , closely aligned to the Oxfordshire strategy, to set out a clear direction of travel for Action for Carers.

The All-age Unpaid Carers Strategy for Oxfordshire is the basis of the charity’s direction of travel, mirroring the priorities for unpaid carers across the County.

  1. Launch the new Carers Oxfordshire ID Card, to increase the identification of carers and registration with GPs.

The Carers ID card has been launched, with 360 cards issued to carers empowering them to be identified as carers. The card supports carers to request inclusion in discharge planning from hospital, to show to employers or emergency workers and gives links to useful tools and advice.

“Receiving support has made a great deal of difference to me already, knowing that there is recognition is probably the most powerful way to support unpaid carers. And knowing that you are not alone.”

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TRUSTEES’ REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

  1. Further develop the wellbeing and short breaks offers for Carers, to improve carers’ resilience and health and wellbeing.

Our wellbeing offers have expanded to include discounted membership for physical activities with Better Sports and Leisure (GLL), in addition to offers from ‘Carefree’ providing carers much needed respite breaks, a laundry service, spa breaks and ‘spa at home’ packs, bespoke carer courses with Abingdon and Witney College alongside financial support with funding for general courses, counselling and ‘Feet up Fridays’ a pre-cooked food offer.

“I was able to have time away with my partner for the first time in 8 years since our daughter was born. This was a welcomed break being able to rest, relax and recharge myself.”

5. Foster partnerships with other organisations supporting carers, to build on the peer support systems for carers in Oxfordshire.

The team work alongside organisations across the County, delivering training, running stalls at information events and supporting carer champions. This has included Oxford Health, Banbury medical centre, SEND children groups, Oxfordshire Parent Carer Forum, Dementia Oxfordshire and Age UK Community Links. We have supported carers groups including in Wallingford, Banbury and Benson, attended schools and surgery wellbeing events and ensured the team are embedded in their communities.

  1. Use the storytelling methodology to raise awareness of carers and to value their too-often invisible contribution.

Our carer voices work included a storytelling project, jointly funded by NHS England, creating a platform for carers to share their experiences and celebrate their journeys, culminating in a showcase event in November attended by carers, social care and health professionals. The stories are being used to shape our services.

  1. Further improve our CRM system (database), to reduce the need for carers to re-tell their stories and to improve our service data.

The CRM has been further improved to meet the needs of the service and is firmly embedded into our work.

Looking back – the year in numbers (2023-24)

Who we are

What we did

Approximately 72% self-referred (approached us themselves directly for support) and 28% were referred to us by professionals for support.

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TRUSTEES’ REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

Caring saps your energy & confidence - The support from the team puts into perspective how much you are doing & how valuable it is, allowing you to socialise more confidently.

How well we did it

I have appreciated being able to talk through and think about my situation with a professional who listened, was sensitive and understood.

The difference it made in people’s lives

At the end of our support, we ask carers for their feedback, from the 225 people who replied;

95% carers felt our support helped them focus on their physical health and 96% on their mental wellbeing.

95% felt it helped them find local services and support, and 98% felt it helped them access information and advice.

95% felt their confidence to continue in their caring role had improved.

96% of carers were satisfied or very satisfied with the support they received.

It has meant so much feeling understood, and feeling someone genuinely cares about me as a carer. I am thankful for the support I have been given.

Knowing that there are people who genuinely care and want to find ways to support me in my caring role, has really helped me not feel so isolated.

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TRUSTEES’ REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

Plans for future periods

Looking forwards (2024-25)

In the context of this being the last year of our current strategy (‘Our Plan 2022-25’) the emphasis for the year ahead will be on: compliance and quality improvement, baselining our impact in terms of the public benefit we achieve, developing our next strategy, and working towards financial sustainability. The underpinning principles of how we want to go about that work together are: to work as one team (with shared purpose), with clarity over assigned responsibilities, using data & evidence to make and then take informed decisions, and encouraging professional curiosity. The programmes, projects, and initiatives we have agreed are grouped under four performance areas with overarching objectives, put simply, as:

Impact To apply what works, demonstrate impact, keep learning. People To have safe, skilled, and supported staff & volunteers. Enablers To be responsive, adaptable, and be fit for the future. Finance To work towards financial sustainability, plan investment to ‘grow’.

Financial review

In the year to 31 March 2024 income of £1,001k (2023: £1,031k) was generated. This was principally from contract income, accounting for 94% of income in the year (2023: 98%).

Expenditure in the year was £1,108k (2023: £987k) leading to a deficit of £(70k) (2023: surplus £26k). The deficit was planned and a designated fund set up in 2023 was utilised.

Investments including policy

At the year end investments were valued at £353k (2023: £315k). An unrealised gain of £37k was recognised (2023: unrealised loss £(18k)).

The listed investments are held on a long-term basis. There is a mixed objective of growth and income. Investment performance is measured on a total return basis.

All investments are held with CCLA. The charity invests in three different funds within CCLA to diversify risk. CCLA actively manage the funds in which the charity is invested.

The charity’s ethical policy precludes direct or indirect investment in companies that generate more than 10% of revenue from alcohol, firearms, or tobacco. At the year end, 24% of the investments are held in ethical funds.

Short term reserves are kept on short-term deposit and in bank accounts and are treated as cash.

Investments are regularly reviewed by the Finance Review Group. Changes in investment strategy are approved by the Trustees.

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TRUSTEES’ REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

Fundraising

Grants and donations are sought for charitable activities not covered by contract income.

All Fundraising activity in the year was in-house, using the Fundraising Code as a guide and no third parties were involved. No fundraising complaints were received during the year.

The charity is aware that some donors or potential donors may be vulnerable. The charity has guidance for staff to identify vulnerable donors and how to work with them, ensuring that no undue pressure is placed on a person to donate.

The charity is not currently registered with the Fundraising Regulator due to the low level of Fundraising activity.

Reserves policy

The trustees have assessed the requirements for reserves. They have used a model that looks separately at the required reserves under the following headings:

Calculations are based on assessments and experience, and will vary from year to year, but the latest version shows £385k. The calculated free reserves at 31 March 2024 were £452k.

At 31 March 2024, the total funds were £469,590. These comprised: £ 12,400 – designated funds £ 457,190 – general funds

The designated fund balance relates to planned expenditure on a multi-year IT investment project. At the end of the year £12,400 remained in the fund anticipated to be used in the coming year.

Trustees are satisfied that on this basis the charity has reserves within the desired range for the coming year.

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TRUSTEES’ REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

Risk management

The Trustees of Action for Carers (Oxfordshire) Ltd have carried out a review of the risks which are present as we take forward our strategy and work programmes.

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Risk Mitigations and actions
System failure or cyber attack, involving Antivirus protection, daily back ups and cyber
breakdown of computers and finance systems insurance
causing loss of records and management data
Dependence on a small number of income Strong funder relationships, looking to assess
streams / public service contracts fundraising potential and income diversification.
Reputational damage, caused by actions of Staff and volunteer handbooks combined with
staff, volunteers or trustees. regular training.
Failure to meet contracted client service levels Quality spot checks, staff training
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Risks are also considered within an overall risk framework to ensure that the organisation can best bolster its lines of defence and manage risks appropriately.

Structure, governance and management

Action for Carers (Oxfordshire) Ltd is a registered Charity, Number 1149577 (registered 1 November 2012). It was incorporated as a company limited by guarantee on 29 June 2012, Company Number 08125002, under Memorandum of Association, which established the objects and powers of the Charitable Company and is governed under its Articles of Association.

Action for Carers (Oxfordshire) Ltd commenced charitable activities on 1 January 2013. A revised set of Articles was approved by the trustees on 10[th] July 2020

Members guarantee to contribute an amount not exceeding £10 to the assets of the charitable company in the event of winding up.

Connected charities

Action for Carers (Oxfordshire) Ltd is a member of the Age UK Oxfordshire Group of organisations. Age UK Oxfordshire has a controlling interest in Action for Carers (Oxfordshire) Ltd through majority membership of the Board. The accounts for Action for Carers (Oxfordshire) Ltd are reported in their own right and consolidated as part of the Age UK Oxfordshire group.

Age UK Oxfordshire is a Brand Partner of Age UK and a member of the Age England Association.

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TRUSTEES’ REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

Organisation structure

The charity is governed by a board of not less than five trustees. Charity trustees are appointed by the existing board and hold office for an initial term of three years.

Currently full board meetings are held four times a year as required by the articles, and report to the bimonthly trustee meetings held by the parent Age UK Oxfordshire.

The board believes that the finances of the Charity can be better monitored in a smaller group with a more focused financial background inviting other trustees as and when appropriate. This role has been delegated to Age UK Oxfordshire Finance Review Group by the Board, and reports to the Board through a Chairperson appointed by the Board.

The Board of Trustees is responsible for the appointment of the Chief Executive, who manages the organisation with the support of a senior management team.

Method of recruitment and appointment of trustees

Trustees are appointed to the Board of Action for Carers (Oxfordshire) Ltd under Article 5 of its Articles of Association. Trustees are appointed for an initial period of three years, and may be re-elected for two further terms of three years each. In exceptional circumstances a fourth and final three year term may be agreed to by the trustees.

Key management remuneration

The directors consider the board of directors, who are the Charity’s trustees, and the senior management team comprise the key management personnel of the charity in charge of directing, running and operating Action for Carers (Oxfordshire) Ltd on a day to day basis. All directors give of their time freely and none received remuneration in the year. The pay of senior staff is reviewed annually with reference to similar organisations of a similar size.

Statement of trustees' responsibilities

The trustees, who are also the directors of Action for Carers (Oxfordshire) Ltd for the purpose of company law, are responsible for preparing the Trustees' Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these accounts, the trustees are required to:

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TRUSTEES’ REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

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

Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The trustees' report was approved by the Board of Trustees.

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

Mr A Lane (Chair) Trustee Dated: 9 September 2024

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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS

Opinion

We have audited the financial statements of Action for Carers (Oxfordshire) Limited (the ‘charitable company’) for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility

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INDEPENDENT AUDITORS REPORT TO THE TRUSTEES (continued)

is to read the other information and, in doing so, consider whether the other information is materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine

whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report.

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

Responsibilities of Trustees

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

In preparing the financial statements, the Trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using

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INDEPENDENT AUDITORS REPORT TO THE TRUSTEES (continued)

the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

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

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

  1. At the planning stage of the audit we gain an understanding of the laws and regulations which apply to the company and how the management seek to comply with those laws regulations. This helps us to plan appropriate risk assessments.

  2. During the audit we focused on relevant risk areas and review the compliance with the laws and regulations by making relevant enquiries and undertaking corroboration, for example by reviewing Board Minutes and other documentation.

  3. We assessed the risk of material misstatement in the financial statements including as a result of fraud and undertook procedures including:

  4. a. Reviewing the controls set in place by management

  5. b. Making enquiries of management as to whether they consider fraud or other irregularity may have taken place, or where such opportunity might exist

  6. c. Challenging management assumptions with regard to accounting estimates

  7. d. Identifying and testing journal entries, particularly those which appear to be unusual by size or nature

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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INDEPENDENT AUDITORS REPORT TO THE TRUSTEES (continued)

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

Use of our report

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

Benjamin Hayes FCA (Senior Statutory Auditor) For and on behalf of Wenn Townsend Chartered Accountants Statutory Auditor

9[th] September 2024

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STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024

Total Total
Notes 2024 2023
£ £
Income from:
Voluntary income 3 10,700 2,619
Charitable activities 4 968,754 1,018,819
Investment income 5 21,633 9,556
─────── ───────
Total income 1,001,087 1,030,994
─────── ───────
Expenditure on:
Raising funds 10,192 25,362
Costs of charitable activities 1,098,005 961,483
Other - 393
─────── ───────
Total resources expended 6 1,108,197 987,238
─────── ───────
Net gains/(losses) on investments 10 37,472 (18,083)
─────── ───────
Net movement in funds (69,638) 25,673
─────── ───────
Fund balance at 1 April 2023 539,228 513,555
─────── ───────
Fund balances at 31 March 2024 469,590 539,228
═══════ ═══════

The statement of financial activities also complies with the requirements for an income and expenditure accounts under the Companies Act 2006.

All of the above results are derived from continuing activities. There are no other gains and losses other than those stated above.

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BALANCE SHEET AS AT 31 MARCH 2024

BALANCE SHEET
AS AT 31 MARCH 2024
2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 9 4,872 1,028
Investments 10 352,787 315,315
─────── ───────
357,659 316,343
Current Assets
Debtors 11 17,737 29,389
Cash at bank and in hand 296,129 295,311
─────── ───────
313,866 324,700
Creditors: amounts falling
due within one year		 12 (201,935) (101,815)
─────── ───────
Net current assets 111,931 222,885
─────── ───────
Total assets less current 469,590 539,228
liabilities ═══════ ═══════
Income funds
Unrestricted funds 14
Designated funds 12,400 75,000
General funds 457,190 464,228
─────── ───────
469,590 539,228
═══════ ═══════

These accounts have been prepared in accordance with provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 9[th] September 2024 and are signed on its behalf by:

…………………………………………. …………………………………………. Mr A Lane (Chair) - Trustee Mr W Norton - Trustee

Company Registration no. 08125002

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

1 Accounting policies

1.1 General information and basis of preparation

Action for Carers is a charitable company limited by guarantee in England / Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities are detailed in the Trustees’ Report.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

1.2 Charitable funds

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

Designated funds are funds set aside, out of unrestricted funds by the Trustees and applied towards specific purposes, as identified by the Trustees.

Restricted funds are represented by income received for specific purposes as laid down by the Donors. Expenditure meeting the criteria of the specific purposes is charged against the funds, together with fair allocation of overheads and supports costs.

1.3 Income recognition

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

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NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1.3 Income recognition (continued)

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example, the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure.

No amount is included in the financial statements for volunteer time in line with the SORP. Further detail is given in the Trustees’ Annual Report.

For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.

Income generated from the supply of goods and services is included in full in the Statement of Financial Activities in the period in which the supply is made.

1.4 Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

Staff costs are charged to activities on the basis of staff time spent on those activities.

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ACTION FOR CARERS (OXFORDSHIRE) LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1.5 Support costs allocation

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources.

Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.

The analysis of these costs is included in note 5.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

1.7 Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains / (losses) on investments’ in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

1.8 Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

1.9 Retirement benefits

The charity participates in the Age UK Group Personal Pension Plan run by Scottish Widows, a defined contribution scheme.

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ACTION FOR CARERS (OXFORDSHIRE) LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

1.10 Leases

All leases of equipment are considered to be operating leases, and rentals are charged against revenue, when incurred. No assets are held under Hire Purchase Agreements.

1.11 Tax

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

1.12 Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.

1.13 Cash flow statement

As it is a ‘qualifying entity’ the charity has taken advantage of the exemption in sections 1.8 to 1.13 of FRS 102 from the requirement to prepare a cash flow statement.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the Trustees 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 estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting 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 periods where the revision affects both current and future periods.

3 Voluntary income

Voluntary income
2024 2023
£ £
Donations 700 2,119
Grants 10,000 500
───── ─────
10,700 2,619
═════ ═════

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ACTION FOR CARERS (OXFORDSHIRE) LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

4 Charitable activities
2024 2023
£ £
Contract income 937,302 1,013,334
Other income 31,452 5,485
───── ─────
968,754 1,018,819
═════ ═════
5 Investment income
2024 2023
£ £
Interest receivable 21,633 9,556
═════ ═════
6 Total resources expended
Staff Other
Total		 Total
Costs Depreciation costs
2024		 2023
£ £ £
£		 £
Costs of generating funds 10,192 - -
10,192		 25,362
Charitable activities
Activities undertaken directly 383,411 1,843 548,686
933,940		 792,325
Support costs 84,145 - 79,920
164,065		 169,551
───── ───── ─────
─────		 ─────
467,556 1,843 628,606
1,098,005		 987,238
───── ───── ─────
─────		 ─────
For the year ended 31 March 2024 477,748 1,843 628,606
1,108,197
═════ ═════ ═════
═════
For the year ended 31 March 2023 481,214 514 505,510 987,238
═════ ═════ ═════ ═════
7 Net incoming resources
2024 2023
£ £
These are stated after charging:
Depreciation of owned assets 1,843 514
Auditor’s remuneration – audit fee 4,305 2,786
═════ ═════

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ACTION FOR CARERS (OXFORDSHIRE) LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

8.1 Staff costs and employee benefits

The average monthly number of employees during the year was:

2024 2023
Number Number
Direct charitable 19 21
Administration and support 3 2
───── ─────
Total 22 23
═════ ═════
2024 2023
£ £
Wages and salaries 425,964 431,268
Social security costs 30,140 30,334
Pension contributions 12,897 13,360
Recruitment, retention and training 8,747 6,252
───── ─────
Total 477,748 481,214
═════ ═════

There were no employees whose annual remuneration was £60,000 or more (2023: £Nil).

8.2 Trustees' and key management personnel remuneration and expenses

The trustees neither received nor waived any remuneration during the year (2023: £Nil).

The total amount of employee benefits received by key management personnel is £Nil (2023: £Nil). The Trust considers its key management personnel compromise the Chief Executive and Director of Finance and Resources of the parent charity, who are employed by and receive remuneration from the parent charity.

No trustees are accruing pension arrangements.

The trustees did not have any expenses reimbursed during the year (2023: £Nil).

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ACTION FOR CARERS (OXFORDSHIRE) LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

9 Tangible fixed assets

Leasehold
Improvements Equipment Total
£ £ £
Cost
At 1 April 2023 4,111 5,435 9,546
Additions for the year - 5,687 5,687
───── ───── ─────
At 31 March 2024 4,111 11,122 15,233
═════ ═════ ═════
Depreciation
At 1 April 2023 3,083 5,435 8,518
Charge for the year 515 1,328 1,843
───── ───── ─────
At 31 March 2024 3,598 6,763 10,361
═════ ═════ ═════
Carrying value
At 31 March 2024 513 4,359 4,872
═════ ═════ ═════
At 31 March 2023 1,028 - 1,028
═════ ═════ ═════
10. Fixed asset investments
At 1 April Purchases Revaluation At 31
2023 at cost March 2024
£ £ £ £
Listed investments at valuation 315,315 - 37,472 352,787
═════ ═════ ═════ ═════

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ACTION FOR CARERS (OXFORDSHIRE) LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

11 Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors - 4,554
Due from group undertakings 17,467 21,674
VAT - 3,138
Other debtors - 23
Prepayments 270 -
───── ─────
17,737 29,389
═════ ═════
12 Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 1,172 17,569
Taxation and social security 10,334 5,755
Amounts due to group undertakings 35,499 12,078
Other creditors 2,387 9,167
Accruals and deferred income 152,543 57,246
───── ─────
201,935 101,815
═════ ═════

13 Group personal pension plan

Defined contribution

The charity operates a defined contributions pension scheme set up with Scottish Widows (Money4Life – scheme number 88647601).

The total pension cost for Action for Carers (Oxfordshire) Ltd for the year was £12,897 (2023: £13,359). £2,388 of contributions (2023: £2,399) were outstanding at the balance sheet date.

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ACTION FOR CARERS (OXFORDSHIRE) LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

14 Funds

A summary of the funds’ movements for the year is disclosed below.

Unrestricted Funds

The unrestricted funds of the Charity consist of freely available General Reserves. The charity seeks to maintain adequate reserves to cover anticipated management infrastructure and administrative costs to enable the charity to operate through any sudden reduction in funding and negotiate, if possible, alternative funding or make other suitable arrangements for service users.

Restricted Funds

There are currently no restricted reserves on the balance sheet.

Designated Funds

The trustees have set aside a sum of £25,000 of unrestricted reserves to cover the completion of IT investments planned for 2023 to 2025, and £50,000 to cover the planned deficit for 2023/24. £62,400 were used in 2023/24, leaving a balance of £12,400 carried forward for remaining anticipated costs for the IT investment project.

Funds movement summary

Balance at Balance at
1 April 2023 Income Expenditure Gains/Tfrs 31 March 2024
£ £ £ £ £
Unrestricted
General 464,228 1,001,087 (1,095,597) 87,472 457,190
Designated 75,000 - (12,600) (50,000) 12,400
─────── ─────── ─────── ─────── ───────
539,228 1,001,087 (1,108,197) 37,472 469,590
═══════ ═══════ ═══════ ═══════ ═══════

15 Related party Transactions

No guarantees have been given or received (2023: none).

The company was a wholly owned subsidiary of Age UK Oxfordshire (registered company number: 04328143) throughout the current year. Age UK Oxfordshire is a registered charity incorporated in England.

In accordance with SORP (FRS 102), the charity company has taken advantage of the exemption from the requirement to disclose transactions with group companies on the grounds that consolidated financial statements are prepared by the ultimate parent company. These accounts are available at Companies House.

There were no other related party transactions and balances that require disclosure.

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ACTION FOR CARERS (OXFORDSHIRE) LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

16 Operating lease commitments

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2024 2023
£ £
Within one year 41,515 41,515
Between two and five years 3,460 41,515
───── ─────
44,975 83,030
═════ ═════

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ACTION FOR CARERS (OXFORDSHIRE) LTD

INCOME AND EXPENDITURE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
£ £
Total income 1,001,087 1,030,994
─────── ───────
Expenditure
Salaries 469,001 474,962
Other staff costs 199,083 185,887
Volunteer costs 17 42
Premises 119,299 35,691
Office running costs 105,620 66,040
IT costs 17,012 46,531
Marketing costs 303 332
Legal and professional 10,718 2,896
Bank charges 1,218 393
Conferences 4,335 5,184
Depreciation 1,843 514
Management costs 164,065 168,766
Bad debts 15,683 -
─────── ───────
Total expenditure 1,108,197 987,238
─────── ───────
Unrealised gain/(loss) on investments 37,472 (18,083)
─────── ───────
Net income (69,638) 25,673
═══════ ═══════

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