Registered number: 08398889 Charity number: 1151398
Age UK Thanet Limited
(A company limited by guarantee)
Unaudited
Trustees' report and financial statements For the year ended 31 March 2025
Age UK Thanet Limited (A company limited by guarantee)
Contents
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 7 |
| Independent examiner's report | 8 - 9 |
| Statement of financial activities | 10 |
| Balance sheet | 11 |
| Statement of cash flows | 12 |
| Notes to the financial statements | 13 - 29 |
Age UK Thanet Limited
(A company limited by guarantee)
Reference and administrative details of the Charity, its Trustees and advisers For the year ended 31 March 2025
| Trustees | Shirley Tomlinson, Chairperson |
|---|---|
| Justine Crane (resigned 25 July 2025) | |
| Jayne Prentice-Whitney | |
| Titilola Uliem | |
| Wayne Robert Smith (appointed 7 July 2025) | |
| Company registered number 08398889 Charity registered number 1151398 Registered office Randolph House Zion Place Margate Kent CT9 1RP Chief executive officer Vanessa Wood Accountants Kreston Reeves LLP Maritime Place Quayside Chatham Maritime Chatham Kent ME4 4QZ Independent Examiner Samantha Rouse FCCA DChA Kreston Reeves LLP Maritime Place Quayside Chatham Maritime Chatham Kent ME4 4QZ |
Page 1
Age UK Thanet Limited
(A company limited by guarantee)
Trustees' report For the year ended 31 March 2025
The Trustees present their annual report together with the financial statements of the Charity for the year 1 April 2024 to 31 March 2025. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
Mission and Vision
The mission and vision of Age UK Thanet Ltd is to provide a warm and welcoming Community Hub that offers activities, fun and information to anyone over the age of 50 living in Thanet.
Purpose
Our purpose is to provide Colourful and Amazing Lives (Ask CAL) with Holistic Services and approach to enable individuals to remain at home offering choice and companionship and to reduce loneliness and isolation.
We ensure that through the ever-changing environment we are adaptable and able to diversify to meet the needs of the people in Thanet. Working in partnership with statutory and voluntary organisations to empower and promote an age-friendly community.
Public Benefit Statement
The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the organisation's aims and objectives and in planning future activities.
Achievements and performance
a. Main achievements of the Charity
Age UK Thanet has an operating surplus for the year of £76,170 (2024: surplus £89,238).
With knowledge of the challenges ahead the CEO and team worked hard to find solutions to be prepared for these ongoing concerns which have been successful and achieved a profit for the year.
The fiscal year, 2024/2025, has been a constant challenge for Age UK Thanet in slowly seeking ways to find opportunities to support the organisation in moving forward in the cost-of-living crisis. Changes in funding opportunities and uncertainty of contracts from Kent County Council, with lack of clarification have put severe pressure on services. High service demand but with lack of uplifts has had a detrimental impact on overheads with ever-increasing market costs. This together with the potential risk of skilled staff leaving due to uncertainty about contracts for which they are employed has been a huge concern.
Page 2
Age UK Thanet Limited (A company limited by guarantee)
Trustees' report (continued) For the year ended 31 March 2025
Achievements and performance (continued)
All services have fluctuated in number due to the high volume of clients requiring support. The Wellbeing Contract has flourished with numbers and individuals over 50 participating in our wellbeing activities across Thanet, ensuring each person is empowered to remain both mentally and physically well with companionship to reduce loneliness and isolation and improve physical fitness. The Telephone Befriending Service provides a valuable service connecting with those who are isolated and lonely and who look forward to a weekly call from our volunteers. Our Volunteer Co-ordinator has worked tirelessly to recruit wonderful volunteers across all services to deliver an ever-increasing need of support to our beneficiaries. The new partnership with Kent and Medway Talking Therapies has opened a new door of collaboration and ensuring the elderly and frail have the opportunity of accessing support for their mental wellbeing and breaking down barriers. This ensures that a weekly phone call is delivered by staff /volunteers to a client until they start their therapy and highlighting any concerns and ensuring the person is supported in a holistic approach.
Age UK Thanet’s Information and Advice Service also has a waiting list of over a month for referrals from people who require support with their benefits. We are waiting for our Quality Audit in May. We have a valuable member of staff and four amazing volunteers who support daily to ensure that clients have the correct Information and how to navigate an intricate system of benefits.
Ask CAL support at home, with an integrated approach, has seen numbers fluctuating during the past year. The Ask Cal service is managed by a diligent Co-ordinator and supported by a team of nine employees. The past year has seen clients choosing to remain at home, providing them with choice and flexibility, from walks, cleaning, shopping, and attending appointments. There has been a sharp increase in requests for team members to accompany clients to health appointments, thereby retaining their independence.
Buddy Box’ hot-meal delivery service has fluctuated over the year due to an increase in clients needing long term care and hospital admissions. Our hot-meal service provides the most vulnerable with a nutritious meal and a welfare call. The plan to move to Millmead Community Centre at the end of April 2025 will further open doors to support more people with healthy meals delivered by our team of new kitchen staff.
Our dedicated Dementia and Me Organiser continues to help individuals on a one-to-one basis and to support families in managing the challenges of dementia. With individual support plans and connections to local services and resources, we can help our clients navigate the changing needs that come with dementia through group activities and Dementia cafes.
Our fully trained Health Care Foot Practitioners are as busy as ever supporting clients in the comfort of their own home, treating all types of footcare conditions. Even clients with medical conditions such as diabetes can be reviewed and treated.
The Handyperson waiting list continues to grow due to the need for client support with gardening, painting, and other household tasks. Accordingly, we continue to look for recruitment of self-employed staff to meet demand.
The ART contract providing rapid and integrated care to local patients continues to work well, enabling clients to remain at home with both medical and social support.
Our future plans are to secure funding and sustainability and develop services to meet the ever-changing needs of the community. We continue to engage with clients and volunteers regularly to discuss such changes and explain why costs for services may need to increase over the next year.
We are also looking for a new Hub which provides Age UK Thanet Ltd with more scope to deliver activities and services and collaborate with other stakeholders. Our wish is to grow alongside Health colleagues to support individuals efficiently and reduce support on the Health and Social Services, both under immense pressure. The Board of Trustees supports the sale of the building and our new endeavours. Our long-term plan is to continue to move to an Integrated Health Hub in Broadstairs. The immediate plan is to move to Millmead Community Centre and continue delivering all services and activities effective May 2025.
Page 3
Age UK Thanet Limited (A company limited by guarantee)
Trustees' report (continued) For the year ended 31 March 2025
Financial review
a. Going concern
Trustees are required to consider whether financial statements can properly be prepared based on continuing as a going concern, meaning that the charity is financially stable enough to meet its obligations and continue its business for the foreseeable future.
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity will have adequate resources to continue operations for the near future.
b. Reserves policy
The Trustees have reviewed the reserves of the charity and established a policy under which the unrestricted reserves held by the charity should be between four and six months of the charity’s direct costs of operation. This amounts to £300,000 (2024: £300,000).
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Restricted reserves amounted to £72025 on 31 March 2025 (2024: £30,635)
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Unrestricted general reserves amounted to £480,858 on 31 March 2025 (2024: £424,368)
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Free reserves amounted to £505,858 on 31 March 2025 (2024: £449,368).
c. Risk management
The Trustees assess the major risks to which the charitable company is exposed and have satisfied themselves that systems are in place to mitigate its exposure to major risks.
The Governance Board and the Chief Executive Officer continue to review risk factors and constraints, we look at the impact to the organisation and the reduction of risk through mitigation. The Risk Management Policy is regularly reviewed and revised. The main risks are identified below.
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Potential risk - Trustee Board risks – We have one new Trustee who brings a great wealth of knowledge to IT and will be a great asset with the support of moving the organisation. The Chair remains in situ due to the need of continuity and support through the move as this has been discussed thoroughly at Board Meetings and the Board agreed it would be detrimental to the organisation if the Chair changed until the move has been completed and there is a time of resettlement and adjustment. The sale/move will be completed in 2025, and it is important that there is stability within the Board including the Chair, Treasurer, Vice Chair, and the new Trustee. There is an advert out for a Trustee Role to join to ensure there is adequate support within the organisation.
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Potential risk - Operational risks - Service provision/customer satisfaction - Steps to mitigate the risk – To seek long–term funding to meet the shortfalls of services and look at increasing pay structure. To increase prices of services for clients with cost of living remaining high. Age UK Thanet is also working with smaller charities and CICs to reach more individuals/communities/diversity across Thanet. We have achieved collaborative work with other Age UKs across Kent and Medway which has enabled more services for the community and consistency across the area.
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Potential risk - Finance - Budgetary control and financial reporting. Steps to mitigate risk - the resolute Finance and Strategy Manager has worked extremely hard over the past year to reduce non-payers and ensure all budgets are correct. Thus, ensuring up to date reports and figures and stopping non-payers within a month and more streamlined policies and procedures to follow to account for all monies. Looking at and understanding full cost recovery and clear strategies moving forwards over the next five-year plan.
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Age UK Thanet Limited (A company limited by guarantee)
Trustees' report (continued) For the year ended 31 March 2025
- Potential risk - Environmental or external factors - adverse publicity. Steps to mitigate risk - continue to implement complaints procedures (both internal and external), agree proper review procedures for complaints in line with our policies and procedures.
d. Results for the year
Income for the year amounted to £830,204 (2024 - £833,896). Expenditure amounted to £754,034 (2024 - £744,658). As a result, the charity generated a surplus of £76,170 (2024 - surplus of £89,238). On 31 March 2025 total funds amounted to £1,173,420 (2024 - £1,097,250).
The Trustees regularly review detailed financial reports and a budget has been set and approved for the next 12 months
Structure, governance and management
a. Constitution
Starting life in 1940 as the Old People’s Welfare Committee, we later joined twenty other national voluntary organisations to become the National Old People’s Welfare Committee in 1944.
In 1971 Age Concern came into existence and in 2012 we became a full-brand partner of Age UK.
Age UK Thanet Limited was incorporated as a private company limited by guarantee on 12th February 2013 (Company Number 08398889) and registered with the Charity Commission on 26th March 2013 (Charity Number 1151398).
The charitable charity is governed by its Memorandum and Articles of Association as adopted on 12th February 2013 and subsequently amended on 12 April 2016 and 20 August 2021.
b. Methods of appointment or election of Trustees
Trustees are recruited from a wide range of backgrounds to ensure an appropriate mix of skills and experience. Trustees are provided with a copy of the Constitution and the document 'The Essential Trustee - What You Need to Know (CC3)'. These two documents provide Trustees with full details of the objectives and their personal and legal duties. In addition, we provide policies for Trustees which further clarify these responsibilities.
The minimum number of Board Members shall not be less than three, including a Chairperson who is elected at each Annual General Meeting. Trustees can use their discretion to increase the length of term of office if this is in the best interest of the Board and Age UK Thanet. Accordingly, the decision to keep the Chair in situ until the office move has been completed and time allowed for adjustments is considered to be in the best interest of Age UK Thanet.
Age UK Thanet Ltd has a robust professional Board of Trustees, led by our Chief Executive Officer, with a unified vision and mission for the future.
c. Pay policy for key management personnel
The Trustees consider that they and the senior management team comprise the key management personnel of the charity in charge of directing and controlling, running, and operating the charity daily.
All Trustees give of their time freely and no Trustee received remuneration in the year.
Page 5
Age UK Thanet Limited (A company limited by guarantee)
Trustees' report (continued) For the year ended 31 March 2025
Structure, governance and management (continued)
d. Board of Trustees
Many thanks to each Trustee as their knowledge and dedication is appreciated.
Thanks, on behalf of all the Board of Trustees, go out to all the staff and at Age UK Thanet for their support through what has been another busy and transformational year. They have shown flexibility and commitment, which stands out. We must not forget the incredible work our volunteers do in the various areas. Our volunteers are recognised as a vital part of the success of Age UK Thanet and its future. Thank you; you are all appreciated.
The Management Team has shown commitment and resourcefulness during the tumultuous period, and I want to personally thank them for their amazing flair and skill set which enables Age UK Thanet to lead on a new way of working and as a result transforms the charity into a modern organisation.
Plans for future periods
Our plans are to continue to spearhead what we believe will enable Age UK Thanet to be an innovative charity, that meets the ever-changing needs of an ageing population. Our priorities for next year are the following:
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Ensuring informed choice and health and wellbeing are at the forefront of our objectives.
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To continue to financially strengthen the organisation and increase its cash reserves, thereby ensuring financial sustainability.
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To create a holistic, community-based service to enhance, enable and facilitate people to live independently within their own homes and enjoy their lives.
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Further development community engagement and for partnership working to play a strong role in the wider community.
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To invest in the quality of the services and to generate more unrestricted revenue in line with the changing financial climate that all of the voluntary sectors are currently facing.
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To maintain the highest level of safeguarding and compliance with Health and Safety regulations.
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To reach Ethnic Minority Groups and be inclusive of all communities in Thanet.
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To be an equal opportunities employer and promote equality and diversity within the organisation creating a safe environment for employees, volunteers and clients.
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To build on our efforts to become a climate neutral organisation.
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To be open to any opportunities that will further enable Age UK Thanet to develop high quality services and will increase the financial sustainability of the organisation.
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To work alongside Health Colleagues and develop a new way of working to meet the needs of members of the community together. Bringing Health and the Third Sector in line by creating one Hub.
Page 6
Age UK Thanet Limited (A company limited by guarantee)
Trustees' report (continued) For the year ended 31 March 2025
Social responsibility
Age UK Thanet as a charity is there for its community and the community is at the heart of everything we do. With our resources we provide the best possible services and try to meet the needs of our 50 plus population in the Thanet area. Next to our community involvement we want to continue our social responsibility but also consider environmental sustainability when conducting business to ensure responsible, ethical, and ongoing success. We are realistic and understand that to have a positive impact it needs to be a shared and collective effort by all organisations and individuals. As an organisation we want to take our responsibility seriously and therefore we strive to become as climate neutral as possible. Some of the measures we have taken already are going as paperless as possible, sourcing our food locally. We want to continue this path and incorporate becoming more climate neutral into everyday practices. Lastly, Age UK Thanet is an inclusive organisation and we value, involve, and respect all individuals and organisations, we will strive to continue supporting them to reach their full potential. We are an equal opportunity employer and pride ourselves on our equality and diversity. In the next budget year, we will increase our efforts to include all diverse groups in the community.
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements 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.
Approved by order of the members of the board of Trustees and signed on their behalf by:
Shirley Tomlinson Date: {12SWeldon
Page 7
Age UK Thanet Limited (A company limited by guarantee)
Independent examiner's report
For the year ended 31 March 2025
Independent examiner's report to the Trustees of Age UK Thanet Limited ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2025.
Responsibilities and basis of report
As the Trustees of the Charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
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the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Page 8
Age UK Thanet Limited
(A company limited by guarantee)
Independent examiner's report (continued) For the year ended 31 March 2025
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed:
Dated: 1 December 2025
S M Rouse FCCA DChA Kreston Reeves LLP Chatham Maritime
Page 9
Age UK Thanet Limited
(A company limited by guarantee)
Statement of financial activities (incorporating income and expenditure account) For the year ended 31 March 2025
| Note Income from: Donations and legacies 3 Charitable activities 4 Other trading activities 5 Investments 6 Total income Expenditure on: Raising funds 7 Charitable activities 8 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Restricted funds 2025 £ 215,067 - - - 215,067 - 173,677 173,677 41,390 30,635 41,390 72,025 |
Unrestricted funds 2025 £ 296,094 316,173 - 2,870 615,137 361 579,996 580,357 34,780 1,066,615 34,780 1,101,395 |
Total funds 2025 £ 511,161 316,173 - 2,870 830,204 361 753,673 754,034 76,170 1,097,250 76,170 1,173,420 |
As restated Total funds 2024 £ 423,977 384,754 22,229 2,936 |
|---|---|---|---|---|
| 833,896 | ||||
| 8,265 736,393 |
||||
| 744,658 | ||||
| 89,238 | ||||
| 1,008,012 89,238 |
||||
| 1,097,250 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 13 to 29 form part of these financial statements.
Page 10
Age UK Thanet Limited (A company limited by guarantee) Registered number: 08398889
Balance sheet As at 31 March 2025
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | |||
| Fixed assets | |||||
| Tangible assets | 13 | 595,537 | 617,247 | ||
| Current assets | |||||
| Stocks | 14 | 2,600 | 2,710 | ||
| Debtors | 15 | 37,789 | 41,916 | ||
| Investments | 16 | 75,100 | 75,100 | ||
| Cash at bank and in hand | 487,584 | 388,196 | |||
| 603,073 | 507,922 | ||||
| Creditors: amounts falling due within one | |||||
| year | 17 | (25,190) | (27,919) | ||
| Net current assets | 577,883 | 480,003 | |||
| Total net assets | 1,173,420 | 1,097,250 | |||
| Charity funds | |||||
| Restricted funds | 18 | 72,025 | 30,635 | ||
| Unrestricted funds | 18 | 1,101,395 | 1,066,615 | ||
| Total funds | 1,173,420 | 1,097,250 |
The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
Shirley Tomlinson
Date:
The notes on pages 13 to 29 form part of these financial statements.
Page 11
Age UK Thanet Limited (A company limited by guarantee)
Statement of cash flows For the year ended 31 March 2025
| Cash flows from operating activities Net cash provided by/(used in) operating activities (see note 21) Cash flows from investing activities Purchase of fixed assets Purchase of investments Net cash provided by/(used in) investing activities Cash flows from financing activities Repayments of HP agreements Net cash provided by/(used in) financing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year |
2025 £ 99,388 - - - - - 99,388 388,196 487,584 |
2024 £ 119,920 |
|---|---|---|
| (4,977) (100) |
||
| (5,077) | ||
| (2,612) | ||
| (2,612) | ||
| 112,231 275,965 |
||
| 388,196 |
The notes on pages 13 to 29 form part of these financial statements
Page 12
Age UK Thanet Limited (A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2025
1. General information
Age UK Thanet is a company limited by guarantee with the company registration number 08398889 and the charity registration number 1151398. The address of the registered office is Randolph House, Zion Place, Margate, Kent, CT9 1RP. The nature of the charity's operations and principal activities is to promote the well-being of all older people and to make later life a fulfilling and enjoyable experience.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Age UK Thanet Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The financial statements are presented in British Sterling and are rounded to the nearest Pound.
2.2 Going concern
The Trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the Charity has adequate resources to continue in operational existence for the foreseeable future and there are no material uncertainties about the Charity's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
2.3 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
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Age UK Thanet Limited (A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2025
2. Accounting policies (continued)
2.4 Tangible fixed assets and depreciation
Tangible fixed assets costing £250 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.
Depreciation is provided on the following basis:
| Freehold property | - | 2% straight line |
|---|---|---|
| Motor vehicles | - | 25% reducing balance |
| Office equipment | - | 15% reducing balance |
| Computer equipment | - | 20% reducing balance |
2.5 Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.6 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.7 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.8 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.9 Pensions
The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.
2.10 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
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Age UK Thanet Limited (A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2025
2. Accounting policies (continued)
2.11 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
2.12 Taxation
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
2.13 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.14 Gift Aid
In the case of a Gift Aid payment made, income is accrued when the payment is payable under a legal obligation. Measurement is at the fair value receivable, which will normally be the transaction value.
Where the right to receive Gift Aid has been established, the amount receivable is recognised as investment income in the Statement of financial activities.
Page 15
Age UK Thanet Limited (A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2025
2. Accounting policies (continued)
2.15 Operating leases
Rentals paid under operating leases are charged to the Statement of financial activities on a straightline basis over the lease term.
2.16 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out below:
Fixed asset fund - represents the fixed assets owned by the charity, less any loans payable on those assets.
Redundancy fund- represents monies designated towards any future redundancy costs.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out below.
Kent Community Foundation - The funding from the Kent Community Foundation has enabled the provision of online services to the isolated and lonely over 50's in Thanet.
Garfield Weston - We received a major donation towards our Community Hub Project in the prior year, which offers significant support to approx. 125 local people 50+ coming from all corners of Thanet. Funding was primarily allocated towards salary shortfalls for our team, who are invaluable and work extremely hard to support locals with high support needs.
SEK-COM Fund - SEK-COM provided funding to enable integration after Covid, by enabling us to provide activities in the community and one-to-one visits. This project ceased in the prior year.
KCC Community Navigator – The community navigator service provides information and guidance, emotional and practical support, or help access a range of community, health and social care options to people over 55 years old or are an adult carer.
Age UK Herne Bay - We received a funding contract for the Dementia and Me organiser in the year.
Page 16
Age UK Thanet Limited (A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2025
2. Accounting policies (continued)
2.16 Fund accounting (continued)
Colyer Fergusson Fund - This funding is to enhance the Information and Advice Service. To reach more people who require support with benefit checks at home and at the Hub.
Age UK SKC Cost of Living Fund - To encourage individuals to attend the Hub and access physical activities and clubs, and have free hot drinks and meals. To reduce isolation and loneliness and increase wellbeing both mentally and physically.
Kent NHS and Medway Diabetes Peer Support Programme - To provide Peer To Peer Support to adults 18 plus who are living with Diabetes Type 1 and Type 2. To encourage people to support each other and access health services and seek advice.
Vita Health Talking Therapies Fund - This fund is sponsored by NHS-Vita Health Group and it's purpose is to implement NHS talking therapies across Kent and Medway.
Thanet District Council Household Support - This fund is used to support those in need and help with the rising cost of living.
3. Income from donations and legacies
| Donations Grants Total 2024 as restated |
Restricted funds 2025 £ - 215,067 215,067 212,977 |
Unrestricted funds 2025 £ 8,044 288,050 296,094 211,000 |
Total funds 2025 £ 8,044 503,117 511,161 423,977 |
As restated Total funds 2024 £ 10,021 413,956 |
|---|---|---|---|---|
| 423,977 | ||||
During the year, the Trustees have reviewed how the income is declared in the financial statements and have reclassified the income disclosure to better reflect the charities activities. As such the prior year disclosures have been restated to reflect these changes.
Page 17
Age UK Thanet Limited
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2025
4. Income from charitable activities
| Day Centre Buddy Boxes ASK CAL service Total 2024 as restated |
Unrestricted funds 2025 £ 21,039 153,014 142,120 316,173 384,754 |
Total funds 2025 £ 21,039 153,014 142,120 316,173 384,754 |
As restated Total funds 2024 £ 48,431 200,599 135,724 |
|---|---|---|---|
| 384,754 | |||
5. Income from other trading activities
Income from fundraising events
| Shop Total 2024 as restated Investment income Interest receivable Total 2024 |
Unrestricted funds 2025 £ - 22,229 Unrestricted funds 2025 £ 2,870 2,936 |
Total funds 2025 £ - 22,229 Total funds 2025 £ 2,870 2,936 |
As restated Total funds 2024 £ 22,229 |
|---|---|---|---|
| Total funds 2024 £ 2,936 |
|||
6. Investment income
Page 18
Age UK Thanet Limited
(A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2025
| 7. Expenditure on raising funds Fundraising expenses Charity shop rent Fundraising expenses Stock adjustment 8. Analysis of expenditure on charitable activities Summary by fund type Restricted funds 2025 £ Day Centre and contract costs 173,677 Total 2024 202,342 9. Analysis of expenditure by activities Activities undertaken directly 2025 £ Day Centre and contract costs 638,357 Total 2024 623,246 |
Unrestricted funds 2025 £ - 251 110 361 Unrestricted funds 2025 £ 579,996 534,051 Support costs 2025 £ 115,316 113,147 |
Total funds 2025 £ - 251 110 361 Total 2025 £ 753,673 736,393 Total funds 2025 £ 753,673 736,393 |
Total funds 2024 £ 8,333 892 (960) |
|---|---|---|---|
| 8,265 Total 2024 £ 736,393 Total funds 2024 £ 736,393 |
Page 19
Age UK Thanet Limited (A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2025
9. Analysis of expenditure by activities (continued)
Analysis of direct costs
| Staff costs Depreciation Other staff costs Meals Motor and travel Events and activities Laundry and cleaning Household support Other expenses Total 2024 |
Activities 2025 £ 448,425 21,710 2,586 70,632 19,361 56,292 5,079 13,467 805 638,357 623,246 |
Total funds 2025 £ 448,425 21,710 2,586 70,632 19,361 56,292 5,079 13,467 805 638,357 623,246 |
Total funds 2024 £ 477,248 22,904 1,723 79,566 23,903 12,182 4,625 - 1,095 |
|---|---|---|---|
| 623,246 | |||
Page 20
Age UK Thanet Limited (A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2025
9. Analysis of expenditure by activities (continued)
Analysis of support costs
| Activities 2025 £ Rates and water 3,501 Light and heat 19,063 Insurance 14,119 Computer costs 18,881 Premises repairs and maintenance 6,662 Telephone 6,501 Postage, stationery and advertising 2,005 Travel and subsistence 7,327 Accountancy and independent examination fees 12,396 Other governance costs 4,828 HP interest charge - Sundry expenses 5,068 Legal and professional fees 13,325 Grants repaid 1,640 115,316 Total 2024 113,147 10. Independent examiner's remuneration Fees payable to the Charity's independent examiner for the independent examination of the Charity's annual accounts 11. Staff costs Wages and salaries Social security costs Contribution to defined contribution pension schemes |
Total funds 2025 £ 3,501 19,063 14,119 18,881 6,662 6,501 2,005 7,327 12,396 4,828 - 5,068 13,325 1,640 115,316 113,147 2025 £ 3,930 2025 £ 420,481 21,304 6,640 448,425 |
Total funds 2024 £ 3,007 22,497 10,460 16,270 10,472 7,878 3,217 7,936 12,616 5,512 48 8,682 3,632 920 |
|---|---|---|
| 113,147 | ||
| 2024 £ 3,800 |
||
| 2024 £ 448,529 21,579 7,140 |
||
| 477,248 |
Page 21
Age UK Thanet Limited (A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2025
11. Staff costs (continued)
The average number of persons employed by the Charity during the year was as follows:
| 2025 | 2024 | |
|---|---|---|
| No. | No. | |
| Employees | 25 | 33 |
No employee received remuneration amounting to more than £60,000 in either year.
The Trustees consider the Board of Trustees and the senior management team comprise the key management personnel of the charity in charge of directing, controlling, running and operating the charity on a day to day basis. As detailed below, no Trustees received remuneration during the year. The remuneration to key management totalled £83,222 (2024: £104,680).
12. Trustees' remuneration and expenses
During the year ended 31 March 2025, no Trustees received any remuneration or other benefits (2024 - £NIL).
During the year ended 31 March 2025, no Trustee expenses have been incurred (2024 - £NIL).
Page 22
Age UK Thanet Limited (A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2025
13. Tangible fixed assets
| Cost or valuation At 1 April 2024 At 31 March 2025 Depreciation At 1 April 2024 Charge for the year At 31 March 2025 Net book value At 31 March 2025 At 31 March 2024 Stocks Consumables Debtors Due within one year Trade debtors Other debtors Prepayments and accrued income |
Freehold property £ 666,261 666,261 93,275 13,325 106,600 559,661 572,986 |
Motor vehicles £ 68,147 68,147 57,280 2,718 59,998 8,149 10,867 |
Fixtures and fittings £ 98,217 98,217 64,823 5,667 70,490 27,727 33,394 2025 £ 2,600 2025 £ 25,237 100 12,452 37,789 |
Total £ 832,625 |
|---|---|---|---|---|
| 832,625 | ||||
| 215,378 21,710 |
||||
| 237,088 | ||||
| 595,537 | ||||
| 617,247 | ||||
| 2024 £ 2,710 2024 £ 26,130 282 15,504 |
||||
| 41,916 |
14. Stocks
15. Debtors
Page 23
Age UK Thanet Limited (A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2025
16. Current asset investments
| Bank deposit account Creditors: Amounts falling due within one year Trade creditors Other taxation and social security Other creditors Accruals and deferred income |
2025 £ 75,100 2025 £ 10,855 4,914 2,994 6,427 25,190 |
2024 £ 75,100 |
|---|---|---|
| 2024 £ 11,504 5,278 3,114 8,023 |
||
| 27,919 |
17. Creditors: Amounts falling due within one year
Page 24
Age UK Thanet Limited (A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2025
18. Statement of funds
Statement of funds - current year
| Unrestricted funds Designated funds Fixed asset fund Redundancy fund General funds General Fund Total Unrestricted funds Restricted funds KCC Community Navigator Age UK Herne Bay Colyer Fergusson Fund Age UK SKC Cost of living fund Kent NHS and Medway Diabetes Peer Support programme Thanet District Council Household Support Vita Health- Talking thereapies Total of funds |
Balance at 1 April 2024 £ 617,247 25,000 642,247 424,368 1,066,615 - - 20,027 - 10,608 - - 30,635 1,097,250 |
Income £ - - - 615,137 615,137 25,348 39,733 30,000 8,526 32,116 30,000 49,344 215,067 830,204 |
Expenditure £ - - - (580,357) (580,357) (25,348) (39,733) (20,027) (8,526) (26,710) (30,000) (23,333) (173,677) (754,034) |
Transfers in/out £ (21,710) - (21,710) 21,710 - - - - - - - - - - |
Balance at 31 March 2025 £ 595,537 25,000 |
|---|---|---|---|---|---|
| 620,537 | |||||
| 480,858 1,101,395 |
|||||
| - - 30,000 - 16,014 - 26,011 |
|||||
| 72,025 | |||||
| 1,173,420 |
Page 25
Age UK Thanet Limited (A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2025
18. Statement of funds (continued)
Statement of funds - prior year
| Unrestricted funds Designated funds Fixed asset fund Redundancy fund General funds General Fund Total Unrestricted funds Restricted funds KCC Community Navigator Kent Community Foundation Garfield Weston SEK-COM Fund Age UK Herne Bay Colyer Fergusson Fund Age UK SKC Cost of living fund Kent NHS and Medway Diabetes Peer Support programme Total of funds |
Balance at 1 April 2023 £ 632,562 25,000 657,562 330,450 988,012 - 5,000 15,000 - - - - - 20,000 1,008,012 |
Income £ - - - 620,919 620,919 50,696 10,000 - 56,501 24,495 30,000 30,579 10,706 212,977 833,896 |
Expenditure £ - - - (542,316) (542,316) (50,696) (15,000) (15,000) (56,501) (24,495) (9,973) (30,579) (98) (202,342) (744,658) |
Transfers in/out £ (15,315) - (15,315) 15,315 - - - - - - - - - - - |
Balance at 31 March 2024 £ 617,247 25,000 |
|---|---|---|---|---|---|
| 642,247 | |||||
| 424,368 1,066,615 |
|||||
| - - - - - 20,027 - 10,608 |
|||||
| 30,635 | |||||
| 1,097,250 |
Page 26
Age UK Thanet Limited (A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2025
19. Summary of funds
Summary of funds - current year
| Designated funds General funds Restricted funds |
Balance at 1 April 2024 £ 642,247 424,368 30,635 1,097,250 Balance at 1 April 2023 £ 657,562 330,450 20,000 1,008,012 |
Income £ - 615,137 215,067 830,204 Income £ - 620,919 212,977 833,896 |
Expenditure £ - (580,357) (173,677) (754,034) Expenditure £ - (542,316) (202,342) (744,658) |
Transfers in/out £ (21,710) 21,710 - - Transfers in/out £ (15,315) 15,315 - - |
Balance at 31 March 2025 £ 620,537 480,858 72,025 |
|---|---|---|---|---|---|
| 1,173,420 | |||||
| Balance at 31 March 2024 £ 642,247 424,368 30,635 |
|||||
| Summary of funds - prior year | |||||
| Designated funds General funds Restricted funds |
|||||
| 1,097,250 |
20. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Tangible fixed assets Current assets Creditors due within one year Total |
Restricted funds 2025 £ - 72,025 - 72,025 |
Unrestricted funds 2025 £ 595,537 531,048 (25,190) 1,101,395 |
Total funds 2025 £ 595,537 603,073 (25,190) |
|---|---|---|---|
| 1,173,420 |
Page 27
Age UK Thanet Limited (A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2025
20. Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
| Tangible fixed assets Current assets Creditors due within one year Total |
Restricted funds 2024 £ - 30,635 - 30,635 |
Unrestricted funds 2024 £ 617,247 477,287 (27,919) 1,066,615 |
Total funds 2024 £ 617,247 507,922 (27,919) |
|---|---|---|---|
| 1,097,250 |
21. Reconciliation of net movement in funds to net cash flow from operating activities
| Net income for the year (as per Statement of Financial Activities) Adjustments for: Depreciation charges Decrease/(increase) in stocks Decrease in debtors Decrease in creditors Net cash provided by operating activities 22. Analysis of cash and cash equivalents Cash in hand Total cash and cash equivalents |
2025 £ 76,170 21,710 110 4,127 (2,729) 99,388 2025 £ 487,584 487,584 |
2024 £ 89,238 22,904 (960) 15,000 (6,262) |
|---|---|---|
| 119,920 2024 £ 388,196 |
||
| 388,196 |
Page 28
Age UK Thanet Limited (A company limited by guarantee)
Notes to the financial statements For the year ended 31 March 2025
23. Analysis of changes in net debt
| Cash at bank and in hand Liquid investments |
At 1 April 2024 £ 388,196 75,100 463,296 |
Cash flows £ 99,388 - 99,388 |
At 31 March 2025 £ 487,584 75,100 |
|---|---|---|---|
| 562,684 |
24. Pension commitments
The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £6,640 (2024 - £7,140). A balance of £1,020 (2024 - £1,266) was payable to the scheme at the balance sheet date and is included in creditors.
25. Operating lease commitments
At 31 March 2025 the Charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:
| 2025 | 2024 | |||
|---|---|---|---|---|
| £ | £ | |||
| Not later than | 1 | year | 7,020 | - |
26. Members' liability
Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £1 for the debts and liabilities contracted before he/she ceases to be a member.
27. Related party transactions
The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity at 31 March 2025.
Page 29