REGISTERED CHARITY NUMBER: 1154403 Report of the Trustees and Financlal Statoments for the Year Ended 31 March 2025 for Age Concern North Wales Central Trading as Age Conne¢ts North Wales Central Salisbury & Company Chartéred Accountants Irish Square Upper Denbigh Road Sl Asaph Denbighshire LL17 ORN
Age Concern North Wales Central Trading as Age Connects North Wales Central Contents of the Financial Statements forthe year ended 31 March 2025 Page Report of the Tru5t8es Indopandent Examiner's Report Statement of Flnancial Actlvltles Balance Sho•t Notes to the Financlal Ststements 10 to 18 Dotailgd Statement of Flnanclal Actlvltles 19 to 20
Age Concern North Wales Central Trading as Age Connects North Wales Central Report of the Trustees forthe year ended 31 March 2025 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the finaneial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charitr'es preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 leffeclive 1 January 20191. OBJECTIVES AND ACTIVITIES Objectives and aims The purpose of the Charity is to promote the relief of older people in a manner which is now or hereafter may be deemed by law lo be charitable in and around Conwy County and Denbigh5hire County or any other area coterminous with the operation of the Belsi Cadwaladr University Health Board and lo provide goods and services as approved from lime lo time by the Age Connects North Wales Central board of trustees. The charity aims lo both represent and support older people, in a tsilored. flexible manner which is sensitive to their needs. In fulfilling our purpose, w&: Provide information and advice so that older people Can make infomed choices and c8n actively participate in decisions about the challenges and opportunities of ageing. Listen and offer empathy to older people in need Represent the views and interests of individuals, groups and Communities Provide support in both groups and on an individual basis Work with other relevant organisalions Raise public awaraness of issues relating lo older peopl8 Housing help older people secure suitable. affordable and ac¢essible housing Provide a link beNveen people. services and the community. Ensure people have a¢¢ess lo reliable, sustainable and inclusive transport. Digital inclusion support people to gain access lo digital technologies Page 1
Age Concern North Wales Central Trading as Age Connects North Wales Central Report of the Trustees for the arended 31 March 2025 OBJECTIVES AND ACTIVITIES Main Activities The main activities of the Charity which look place during the year were for public benefit. These were as follows.. Age Friendly Communities: Introducing the eight domains of the World Health Organisations priorities for Age Friendly communities by active engagement within local communities. Delivered in conjunction with Conwy and Denbighshire Councils. Forum members actively engaged the process in both counties, infoming the action plan for the delivery of Age Friendly Communities. Age Connects Wales: Partnership of S other Age Connects located across Wales, coming together lo support older people and lobby govemmenl agencies and services that support older people in Wales. Cold Busterl LEAP: Energy advicg and holp with applying for attendance allowance. Communlty Navlgator: Supportlng so¢lal pre$¢rtbing through Ilnking people with community services and groups. Happy Feet: Chargeablè toenail cutting semce delivered by self-employed pra¢tilioners. Hubbublolder Peoples Forums: Community forums involving activities, speakers, and feedback about services. Inlonnation and Adviee: Infomiation & Advice with a cèntralised telephone helpdesk. events, and pr6sentstion$. Homellf•: Social enterprise providing support for citizens to maintain their lifestyles and continue to live indep8ndontly . This is a ¢har9eable service. Paper pals: Assislanco in completing forms and organising paperwork. Hope: Hope is a partnership initsative led by Age Cymru in Connection with Age Connects Wales. This projèct provides advo¢acy for older people aged S0+ and carers across Wales. Trustees confirm that they have had due regard lo the guidance issued by the Charity Commission relating to public benefit when planning the activities for the year. Page 2
Age Concem North Wales Central Trading as Age Connects North Wales Central Report of the Trustees for the year ended 31 March 2025 ACHIEVEMENTS AND PERFORMANCE Charitable activities As with previous years, 2024125 has been very busy in meeting the ch211enges and changes within the organisation. We continue lo pul the needs and experiences of our selvice users at the centre of our service provision and delivery. We raise awareness and understanding of our services through our newsletters. forums and through attending partnership events. We also work in partnership with other organisalions lo ensure that older people are made aware of services that may be available to them. We continue to support our seNice users and forum members by providing them with opportunities to meet and discuss issues that are important to them. We also raise awareness of opportunities to partieipale in debates and surveys that may affect their lives, we also commit to national campaigns such as Falls Prevention and Intemational Older Peoples Days. We are committed to age friendly practices to ensure that we Can deliver services and information that is accessible and give older people a voice. We listen lo what older people tell us and this fom)s the basis of our work. Our staff are often asked to participate al eventslconferences to ensure that older people are repsented and others are made aware of the Challenges that may face an ageing population. We continue to develop our policies and govemance documents in line with current practices and legislation. Our forum membership ensures that we are kept aware of gaps in provision across services that can affect their lives and ability lo live independently. As a result of this we can share this information with olher organisations in the $8Ctor. To this end we participate in local, regional and national partnerships. Our programmes and achievements includé: Coldbuster is now delivered in partnership with Eco Agililyl Bierce under the auspices ol LEAP ILocal Energy Action Project). This offers small energy saving measu$ and tariff swapping lo eligible households. 78 households were assisted with this project We also assisted 89 individuals to obtsin attendance allowance this year, this equates lo an additional £5644 to a person's income, Communlty Navigator Conwy Wesl Navigator services. This seNice provides support for up to 10 weeks depending on client need and increasingly seeing more complex cases. because of this factor the support often extends past 10 weeks. delivered 1988 appointments across Conwy Wesl. provldlng support and signposting to other Happy Feet- delivered 545 appointments across DenbighSh1 and Conwy Hubbublolder Peoples Forums - ¢Jelivering fonjms across Denbighshire and Conwy. Forums are usually held every 4 - weeks across various locations in both counties. The venu9s and limes are advortised in the newsletters and on the web511e. There were 65 forums, 28 social events, 6 infomiats'on days and 32 neknrking events. 40+ forum members were signposted lo other organisalions. Forum members attended-. Care and repair conference, Age Cymru age dlscrimination Conference, North Wales Women's Health Event Colwyn Bay Conversations. Guest speakers included, Llais. Vision Support, North Wales Police, Falls prevention team, county and town councillors.The age range of attendees ranged from 70 - 90+ Topics discussed included local and national issues, assisted dyin9 bill, palliative care, bin collection housing and transport, pay and display car parks requiring smart phones and downloading apps. Age Friendly Community domain topics. Some members also were encouraged lo join other groups and discussions. Newsl8tt8rs readership. And participation. Readership includes professional bodies and community groups such as University of the Third Age. these are currently delivered to ovar 4.000+ people with 700 subscribers and provide opportunities for Infomation and Advice 8n5wered 1016 calls. The service provides a wde scope of information and advice including access lo social activities, help at home, help with finances, bereavement and tran5PQrt issue5. The service adopts a holistic approach lo service delivery signposting to other seniices where feasiblè. As part of the service, we conduct feedback and salisf8Ction surveys, callers often comment how helpful il's been lo have SOTneone to talk to and can refer them on to other services, people are often unaware of the eStenCe of services that could be helpful lo them. Page 3
Age Concern North Wales Central Trading as Age Connocts North Wales Central Report of the Trustees for the yearended 31 March 2025 Homa Lifo- social enterprise designed to help people enjoy a quality of life and maintsin their independence. Demand for this service is high and continues lo grow. We delivered 3031 hours of support. We are continually advertising for staff to help us expand our service and to meet demand. Key to our Future - funding to support and develop our business model for Homelife in Conwy Hope- this a low-level advocacy service doliver8d in partnership with Age Cymru, offering citizens support with issues affecting their everyday lives. Staffing levels remain at similar levels owing lo the development of our social enterprises and our ability to retain suitable staff. The Charity ¢onlinues to embed itself in the communities in Denbighshire and Conwy and lo work in partnership wslh other organisalions. We would like to thank all indiwduals and familles who make donallons to support our work. we are grateful for your support. FINANCIAL REVIEW Principal funding $our¢es As in previous years, much of our funding during the year has been from Conwy and Denbighshire County Councils and Belsi Cadwaladr University Health 8oard. These were by way of service level agreements whereby Age Connects North Wales Central provides procured seNices lo an aged minimum standard. Monitoring and reporting procedures are particularly rigorous as we continue lo provide value for money lo the public purse. Services funded by these are shown in Note 3 to the accounts. Grants and fees continue lo be received from other sources, and these are for specific purposes or are in respect of a seNIc8 provided. Again, the major funders have been included in Note 3 to the accounts. Overall income of £262,351 was slightly higher than the previous year, bul our costs are rising in terms of increases in employment requlrements During the next three years we are looking al way5 of developing our social enterprises so thai we can ¢onsolidale our future income and try and become less lIant on grant funding. ACNWC have a current pension deficit valued at £1,382 under FRS102. This is a defined benefit scheme for which we wlll continue lo be a member of. We will follow the govemment's requirement for Auto Enrolmenl in August 2017 under a defined contribution scheme in order to avoid any further long terms pension liabilities. Reserves policy It is the policy of the oharity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six months of indirect expenditure. The Twslees wnsider that reserves al this level will ensure that. in the event of a significant drop in funding, they will be able lo continue the charity's current activities while consideration is given lo ways in which additional funds may be raised. The board Considers that the minimum level of reseNes has been mainlain&d throughout the yèar. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing Document The Charity is controlled by its goveming document. which constitutes a Charitable Incorporated Organisation {CIOI. The Charity became a CIO on 30th October 2013, from the previous unincorporated body regISted under charity number 1029964. Page 4
Age Concern North Wales Central Trading as Age Connects North Wales Central Report of the Trustees for the year ended 31 March 2025 STRUCTURE. GOVERNANCE AND MANAGEMENT Recruitment and Appointrnent of New Trustees One third of trustees retire al each AGM. These are the longest serving trustees, which are eligible for re-election for up to 8 years. Prospective Trustees are nominated by members of Age Connects North Wales Central and elections are held if the number of nominations exceeds the number of trustee vacaneies. Trustees reeeive induction to their rolg. together with any on-going learning. training andlor development in response lo identified need. The responsibilities of Charity Trustees are outlined in the Charity Commission publication 'The Essential Trustee. lupdaled July 20151. Trustees musl be over 18 years of age and not be disqualified under Sects'on 181A of the Charities Act 2011 because of bankruptcy or convietion for an offence of dishonesty or deception. Applicants should only become a Trustee if they-. are prepared lo give the necessary lirne and effort lo the govemance of the Charity Can help the Charity achieve ils aims through their expertise or commitment understand and accept that Irusleeship carries legal duties and responsibilities Oryanisational structure The activity of Age Connects North Wales Central are controlled by the Board of Trustees. This consists of three elected members lo the Board. Meellngs are ¢onvened and serviced by the Chief Executive Officer of Agè Connects North Wal8s Central. Mr W A Latham is chair of the Trustees The remainlng board conslsl of Mr Eiflon Hughes and Mrs Susan Wright The Board of Trustees meet al least six times per annum. In addition, there is one General Meeting per year, which is the Annu81 General Meeting. Minutes a kept of each meeting and, if they so wsh, members of Age Connects North Wales Centr81 are welcome lo examine the minutes 81 any reasonable time. The Board is responsible for setting the strategic direction of thg Charity, whilst responsibility for day-to-day operational management lies wlh the Chief Executive Officer. Age Connects North Wales Cantral benefits from the commitment of up lo 3 volunteers, who are actively involved in a rang• of projects and servicès REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 1154403 (England and Wales) Règistèrèd Charity number 11 $4403 Reglstered offlce Eirianla Community Centre Factory Place Denbigh Denbighshire LL16 3TS Trustees Mr W A Latham (Chairperson) Mrs Susan Wright Mr Eifion Vvyn Hughes- appointed 26111124 Independent Examiner Salisbury & Company Chartered Aceountanl$ Irish Square Upper Denbigh Road Sl Asaph Denbighshire LL17 ORN Approved by order of the board of trustees on . 16. and signed on ils behalf by.. Page 5
Agè Concèrn North Walès Cantral Trading as Age Connects North Wales Central Report of the Trustees for the year ended 31 Mar¢h 2025 Mr W A Latham - Trustee Page 6
Independent Examinèls Report to the Trustees of Age Concern North Wales Central Independent examinefs report to thè trustees of Age Concern North Wales Central I'the Compan) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025. Responsibilities and basis of report As the charity's trustees of the Company land also its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordan¢e with the requirements of the Companies Act 2006 Ilhe 2006 Acl'l. Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and a eligible for independ8nl examination. l Ptsrt in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 I'the 2011 Acl'l. In carrying out my examination I have followèd the Directions given by the Charity Commission under Section 145151 {b} of the 2011 Act. Independent examinerfs ststement Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confim that I am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examination. l Confirm that no matters have come to my attention in connection with the examination giving me cause lo believe: accounting records were not kept in respect of the Company as qUired by Section 386 of the 2006 Act,. or the accounts do not accord wlh those records., or the accounts do not comply with the accounting requirements of Section 396 Of the 2006 Act other than any requirement that Ihe accounts give a true and fair view which is not a matter considered as part of an inéependenl examination., or the accounts have not been prepared in accordance wlh thè methods and prfnciples of the Statemènt of Recommended Practice for accounting and reporting by charities lapplicable to charities preparing Ihgir accounts in accordance wlh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102}). I have no concems and have come across no other matters in connection with the examination to which attontion should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Jason Malischok ACA Salisbury & Company Chartered Accountants Irish Square Upper Denbigh Road St Asaph Denbighshire LL17 ORN Date.. zg c)1 Page 7
Age Concern North Wales Central Trading as Age Connects North Wales Central statement of Financial Activities for the year ended 31 March 202S 2025 Total funds 2024 Totsl funds Unrestricted funds Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2,739 4.304 7.043 2.701 Charitablg activities Supporting older people 52,673 132.265 184.938 172.442 Other trading activities Investment income 2,415 1,276 66.679 69.094 1.276 58.519 936 Total 59,103 203.248 262,351 234,598 EXPENDITURE ON Charitable actlvitles Supporting older people Depreciation 60.859 136 245,810 306.669 136 243,489 147 Totsl 60,995 245,810 306,805 243,636 NET INCOMEI{EXPENDITUREI Transfers bgtWo•n funds 11.892} 127.235} 142,562) 27,236 144,4541 19,038} 13 Not movèment in funds 129,127} 115,3261 144.4531 19,038) RECONCILIATION OF FUNDS Totsl funds brou9hl forward 77,875 45,833 123,708 132,746 TOTAL FUNDS CARRIED FORWARD 48,748 30,507 79,255 123,708 The r)otes fomi part of these financial ststements Page 8
Age Concern North Wales Central Trading as Age Connects North Wales Central Balance Sheet 31 March 2025 2025 Totsl funds 2024 Total funds Unrestricted funds Restricted funds Notes FIXED ASSETS Tangible assets 10 1,986 1.986 2,486 CURRENT ASSETS Debtors Cash al bank and in hand 9,135 47,901 9,135 78,408 3,548 126,111 30.507 57,036 30.507 87,543 129,659 CREDITORS Amounts falling due wllhin one year 12 110,274} {10,2741 {8,437} NET CURRENT ASSETS 46,762 30,507 77.269 121,222 TOTAL ASSETS LESS CURRENT LIABIUTIES 48,748 30,507 79.255 123,708 NET ASSETS 48,748 30,507 79,255 123,708 FUNDS Unreslricled funds Restricted funds 13 48.748 30,507 77,875 45.833 TOTAL FUNDS 79,255 123.708 The chartlable Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025. The members havè not r8quired the company to obtain an audit of ils financial stslements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006. The Iru8tees acknOedge their responsibilitie¥ for lal ensuring that the charitable company keeps accounting records that comply with Sèelions 386 and 387 of the Companies Act 2006 and preparing financial slalemenls which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of ils surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of Ihe Companies Act 2006 relating to financial statements. so far as applicable to the charitable company. Ibl These financial statements have been prepared in accordance wlh the provisions applicable lo charitable companies subject to the small companies regime. The financial 3talernenls were approved by the Board of Trustees and aulhorised for issue on and were signed on its behalf by.. Eg 2L)Z6 Mr W A Latham - Trustee The notes form part of these financial statements Page 9
Age Concem Ntsrth WaSes Central Trading as Age Connects North Wales Central Notes to the Financial Statements for the year ended 31 March 2025 ACCOUNTING POLICIES Basis of preparlng the financial ststements The financial statements of the charitable company, which is a public benefit entity under FRS 102. have been prepared in accordance with the Charities SORP IFRS 102) 'Accounling and Reporting by Charities." Slalemenl of Recommended Practice applicable to charities preparing their accounts in accordance wlh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191., Financial Reporting Standard 102 'The Financial Reporting Standard applicable in Ihe UK and Republic of Ireland, and the Companies Act 2006. The financial slalements have been prepared under the historical cost convention. Income All income is recognised in the Staternent of Financial Activities once the charity has enlitlemenl lo the funds, il 1$ probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure. il 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related lo the category. Where costs ¢annol be directly attributed lo particular headings they have been allocated lo activities on 8 basis consislenl with the use of resources. Tangible fixed assets Depreciation is provided al the following annual rates in order to write off each ass81 over ils estimated useful life. Fixtures and fittings Offiee equipment 330/0 on reducing balance 20•/y on reducing balance Taxation The charity is exempt from Corporation lax on its charitsble actsvities. Fund accounting Unreslrfcled funds be used in accordance with the charitable objectives al the discretion of thè trustees. Restricted funds can only be used for particular reslri¢led purposes within the objects of the charity. Restrictions aris8 when spocifièd by the donor or when funds are raised for particular reslricled purposes. Further explanation of the nature and purpose of éach fund is includèd in the notés lo the financial slat6m8nts. Hire purchase and lèasing commltments Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. DONATIONS AND LEGACIES 2025 2024 Donations Commissions 6.986 57 2.661 40 7.043 2,701 Page 10 continued...
Age Concern North Wales Central Trading as Age Connects North Wales Central Notes to the Financial Statements - continued forthe year ended 31 March 2025 OTHER TRADING ACTIVITIES 2025 2024 Toe Nails Homé Life Income 2,415 66.679 2,519 56,000 69.094 58.519 INVESTMENT INCOME 2025 2024 Deposit account interest 1.276 936 INCOME FROM CHARITABLE ACTivrriES 2025 2024 Activity Supporting older people Grants 184.938 172,442 Grants ceiVed, included in the above, aTr as follow5.. 2025 2024 Conwy CBC - Forums Denbighshlre CC - Information & Advice Denbighshire CC - Forums Denbighshire Community Navigator- DCC Coldbuslerl LEAP Conwg Wesl Community Navigator - 8CUHB Hope CVSC- paperpals E¢0 Agility Age Friendly Conwy CC Age Friendly Denbigh5hire CC Conwy East Community Navigator Key lo our future Conwy Borough Council- Community Navigator 12,682 18,274 15,017 12,382 19.885 14,404 11,328 13.900 29.417 1.599 5,990 1,600 16,195 4.135 15.300 20,000 24.101 9.418 33,740 91,496 196,422 172,441 NET INCOMEIIEXPENDITURE) Nat incomel{gxpenditurel is staled after charglngll¢dltlngl- 2025 2024 Auditors, remuneration for non audit work Depreciation owned assets Other operating leases 5,146 500 4,850 3,774 147 5,900 Page 11 continued...
Age Concern North Wales Central Trading as Age Connects North Wales Central Notes to the Financial Statements - Continued tor the year ended 31 March 2025 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remunerab'on or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024. Trustees. expenses There were no trustees, expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024. STAFF COSTS The average monthly number of employees during the year was as follows.. 2025 18 2024 16 Full & part lime staff No employees re¢eived emoluments in ex¢ess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVIT]ES Unrestricted funds Restricted funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 2,647 2,701 Charltable actlvltles Supporting tslder people 55,610 116,832 172,442 Olh8r trading activilias Investment income 2,519 936 56.000 58,519 936 Total 61,712 172,886 234,598 EXPENDITURE ON Charitable activities Supporting older people Depreciation 60,853 147 182.636 243,489 147 Total 61,000 182,636 243,636 NET INCOMEIIEXPENDITUREI Transfers between funds 712 123,8011 19.7501 23,801 19,0381 Net movement In funds (23,0891 14,051 (9.0381 RECONCILIATION OF FUNDS Total funds brought forward 100,965 31,781 132,746 TOTAL FUNDS CARRIED FORWARD 77,876 45.832 123,708 Page 12 continued...
Age Concern North Wales Central Trading as Age Connects North Wales Central Notes to the Financial Statements . continued for the year ended 31 March 2025 10. TANGIBLE FIXED ASSETS Fixtures and rittings Office equipment Totals COST At 1 April 2024 and 31 March 2025 3.023 5,972 8,995 DEPRECIATION Al 1 April 2024 Charge for year 3,009 3,500 495 6.509 500 At 31 March 2025 3,014 3,995 7.009 NET BOOK VALUE At 31 March 2025 1,977 1,986 At 31 March 2024 14 2,472 2.486 11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Trad8 debtors Prepayments and accrued income 8,904 231 3,548 9,135 3.548 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Trade creditors Social security and olh&r taxes Accrued expenses 757 2.488 5.192 3,982 6,292 10,274 8,437 Page 13 continued...
Age Concern North Wales Central Trading as Age Connects North Wales Central Notes to the Financial Ststements - continued fr>r the year ended 31 March 2025 13. MOVEMENT IN FUNDS Net movement in funds Transfers between funds Al 3113125 At 114124 Unrestricted funds General fund Social Enterprise OPF Denbighshire ColdbuslerlLeap 71,384 3,374 369 1.118 16,7531 130.4461 44,312 369 4,067 2,949 3,542 3,211 77,875 11,8921 127.2351 48,748 Restricted funds Older Peoples Forums Denbighshire Community Navigator- DCC Information & Advice Conwy Community Navigator Home Life Hope 121.0791 21.079 18.096 11,645 15.083 18,096 11.280 13651 {16.8231 14,4171 122 1,740 4.417 1,009 1.131 45.833 142.5621 27,236 30.507 TOTAL FUNDS 123,708 144,4541 79,255 Nel movement in fvnds, induded in the above are as follows.. Incoming resourees Resources expended Movement in funds Unrestri¢ted funds General fund Social Enterprise OPF Denbighshire ColdbuslerlLeap 1,321 4,942 24,435 28,405 2,053 14.573} 123.3171 135,1581 3,374 369 1,118 {6,7531 59,103 160,99S} {1,8921 Restrlcted funds Older Peoples Forums Information & Advice Conwy Community Navigator Home Life Hope 13.507 17.941 80.007 90,193 1,600 134,5861 118.3061 196.8301 194.8101 11,4781 121,0791 13651 116,8231 14,4171 122 203.248 1245.8101 142,5621 TOTAL FUNDS 262,351 1306.805} 144,4541 Page 14 onlinued...
Age Conrn North Wales Central Trading as Age Connects North Wales Central Notes to tho Financial Statements - continued for the year ended 31 March 2025 13. MOVEMENT IN FUNDS . continued Comparatlves for movement in funds Net movement in funds Transfers beeen fund5 At 3113124 At 114123 Unrgstricted funds General fund Social Enterprise OPF Denbighshire ColdbusterlLeap 98.180 12.1401 18551 2.949 757 {24,656) 855 71,384 2,949 3.542 2.785 100,965 711 (23,8011 77.875 Restricted funds Older Peoples Forums Denbighshire Community Navigator- DCC Information & Advic8 Conwy Community Navigator Home Life Hope 11,099) 6,968 8,075 23,605 16,5151 747 112,507} 11.128 3,570 18.522} 13,6801 262 13.606 18,096 11,645 15.083 10.195 1.009 31,781 19,749} 23.801 45.833 TOTAL FUNDS 132,746 19.0381 123,708 Comparative nel movement in funds. included in the above are as follows.. Incoming resoUe$ Resources expended Movement in fund$ Unrestrlcted funds General fund Social Enterprise OPF Denbighshire ColdbuslerlLeap 1,130 4,520 29,704 26,359 13,2701 15,3751 126.7551 125,6021 {2,1401 18551 2,949 757 61.713 161.0021 711 Restricted funds Older Peoples Forums Denbighshire Community Navigator- DCC Information & Advice Conwy Community Navigator Home Life Hope 16.517 11,328 19,885 49,417 74,138 1,600 129.0241 {200} 116,315> 157,939> 177,818) 11,338} (12,5071 11,128 3,570 18,522} 13,680} 262 172,885 {182,634} 19,749} TOTAL FUNDS 234,598 (243,636} 19,038} Page 15 ontinued...
Age Concem North Wales Central Trading as Age Connects North Wales Cèntral Notes to the Financial Statements - continued for the year ended 31 March 2025 14. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2025. 15. DEFINED BENEFIT PENSION SCHEME The company participates in the scheme. a rnulti-employer scheme which provides benefits to some 521 non-associated participating employers. The scheme is a defined benefit scheme in the UK. It is not possible for the company to obtain sufficient information to enable it lo account for the scheme as a defined benefit scheme. Therefore it accounts for the scheme as a defined contribution scheme. The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, sel out the framework for funding defined benefit occupalitsnal pension schemes in the UK. Thé seh8m• is classified as a 'last-man standing arrang8menl'. Therefora the company is potentially liable for other participati'ng employers, obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scherne. A full actuarial valuation for the scheme was carried out at 30 September 2023. Thls valuation showed a$s8ts of £514.9m, liabilities of £531.Om and a deficit of £16.1 m. To eliminate this funding shortfall. the Trustee has asked the participating employers lo pay additional contributions to the scheme as follows.. Deficit contributions From 1 April 2025 10 31 March 2028.. £2,100,000 per annurn payable monthly Unless a concession has been agreed with the Trustee the tenm to 31 March 2028 applies. Note that the scheme's previous valuation was carried out with an effective date of 30 Seplomber 2020. This valuation showed assets of £800.3m, liabilities of £831.9m and a deficit of £31.6m. To eliminate this funding shortfall, the Trustee asked the participating employers lo pay additional Contributions to the scheme as follows.. Doficit contributions From 1 April 2022 10 31 January 2025.. £3,312,000 per annum payab18 monthly The recov8ry plan contributions are allocat&d lo each participating employèr in line with their estimated share of th8 Series 1 and Series 2 s¢heme liabilities. Where the scheme is in deficit and where the company has agreed lo a deficit fundin9 arrangement the company recognises a liability for this obligation. The amount cognised is the nel present value of the deficit reduction ¢trntribulions payable under the agreement that relates lo the deficit. The present value is calculated using the discount rate detsiled in these disclosures. The unwinding of the discount rale is recognised as a finance cost. Près•nt valuès of provisions 31 March 2025 l£sl 31 March 2024 l£sl 31 March 2023 l£sl Present value of provision 1,382 718 1.536 Page 16 continued...
Age Concern North Wales Central Trading as Age Conneds North Wales Central Notes to the Financial Statements - Continued for the year ended 31 March 2025 15. DEFINED BENEFIT PENSION SCHEME- continued Reconciliation of opening and closing provisions Period Ending 31 March 2025 {£sl Period Ending 31 March 2024 l£s) Provisions al start of period Unwinding of the discount factor (interest expense) Deficit eonlribulion paid Remeasuremenls - impact of any change in assumptions Remeasuremenls - amendments lo the contribution schedule provision al end of period 718 19 {7321 1,536 59 {878) 1,368 1,382 718 Income and expenditure impact Period Ending 31 March 2025 l£sl Period Ending 31 Mar¢h 2024 l£sl Interest expense Rerneasurements - impact of any change in assumptions Remeasurements - amendments to the contribution schedule Contributions paid in respect of future servi¢e' Costs recognised in income and expenditure account 19 59 1.368 'ineludes defined contribution schemes and future servic8 contributions li.e. excluding any deficit reduction payments) to defined benefit s¢hemes which are Irealed as defined ¢onlribulion schemes. To be Completed by the company. Assumptlon$ 31 March 2025 /0 per annum 31 March 2024 '/0 per arsnum 31 March 2023 '/0 per annum Rate of discount 5.31 5.52 The discount rates shown above are the equivalent single discount rates which, when used to discount the future recovery plan contributions due. wou5d give the same results as using a full AA corporate bond yield curve to dis¢ounl the same recovery plan contributions. The following schedule detsils the deficit contributions agreed betsveen the company and the scheme at each year end persod: Deficit contribution$ s¢h¢dule Year ending 31 March 2025 l£sl 31 March 2024 l£sl 31 March 2023 l£sl Year 1 Year 2 Year 3 Year 4 Year 5 493 493 493 732 878 732 Page 17 continued...
Age Concern North Wales Central Trading as Age Connects North Wales Central Notes to the Financial Statements - continued for the year ended 31 March 2025 15. DEFINED BENEFIT PENSION SCHEME- continued The company must recognise a liability measured as the present value of the contributions payable that arise from the deficit recovery agreement and the resulting expense in the income and expenditure account i.e. the unwinding of the discount rate as a finance cost in the period in which it arises. It is thèse contributions that have been used to derive the company's balance sheet liability. Page 18
Age Concern North Wales Central Trading as Age Connects North Wales Central Detailed Statement of Financial Activities forthe yearended 31 March 2025 2025 2024 INCOME AND ENDOWMENTS Donation5 and legacles Donations Commissions 6,986 57 2.661 40 7,043 2.701 Other trading activities Toe Nails Home Life Inrne 2,415 66,679 2,519 56,000 69.094 58,519 Investment income Deposit a¢¢ounl interest 1,276 936 Charitable a¢tivltlos Grants 184.938 172,442 Total incornlng re$ources 262.351 234,598 EXPENDITURE Charitable actlvltles W8ges So¢ial security Postsge and stationery Travelling expenses Subsistence and entertalnlng Recharged support costs 175,018 6.054 127,418 3,460 186 6.835 669 44,214 6,738 124 49,211 237.152 182,782 Support costs Management Wages Rent and rates Telephone Postage and stationery Advertising Room hire Travelling expenses Subsisten¢e and entertaining Equipment hire Rapairs and renewals Subscriptions Training costs Recharged support costs IT and computer Recruitment Expenses Carried forward 45,958 4,850 7,634 15,232 300 292 5.860 757 7,270 4,277 1,874 1.869 149,2091 5,504 8,360 60,828 50.412 5,900 5,867 12,493 39 522 3,829 435 6,837 3.954 1,788 3.048 144,2141 3,173 54.083 This page does not fonn part of the statutory financial ststements Page 19
Age Concern North Wales Central Trading as Age Connects North Wales Central Detailed Statement of Financial Activities for the yearonded 31 March 2025 2025 2024 Management Brought forward Fixtures and fittings Computer equipment 60,828 54.083 494 140 61,327 54,230 Financ¢ Bank charges 517 405 Governance costs Auditors, remuneration for non audit work Legal and professional fees 5,146 2,663 3.774 2.445 7,809 6,219 Total resources expended 306,805 243,636 Net expenditure 144,4541 19,0381 This page does not fom part of the statutory financial statements Page 20