Charity r•9lStration numb•r 1165891 AGE UK BROMSGROVE REDDITCH AND WYRE FOREST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
AGE UK BROMSGROVE REDDITCH AND WYRE FOREST LEGAL AND ADMINISTRATIVE INFORMATION Tru•te? Mrs K sharpe Mr J Godsall Mr D Williams Dr J Shapiro Mrs L Chatwin Mr D Savage M$ G Malkin (Appointed 23 May 20231 (Appointed 12 October 20231 (Appointed 12 October 20231 Chief Executlvè OffiG8r Ms AAllen Charlty number 1165891 Prln¢lpal address 51 Windsor Street Bromsgrove Worce51ershire 860 2BJ Auditor Omierod Rutter Limited The Oakley Kiddemiinsler Road DrO11¢h Worcestershire WR9 9AY Bankers CAF Bank 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ Natwesl Bank PIC 11 We3t¢rn Boulevgrd B8d@ Island Leiceslgr LE2 7EJ
AGE UK BROMSGROVE REDDITCH AND WYRE FOREST CONTENTS Page Trustees. report Independent auditorf5 report Statement of financial aclivitias 10 Balance sheet 11 Statement of cash flows 12 Notes to the financial statements 13-28
AGE UK BROMSGROVE REDDITCH AND WYRE FOREST TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 Thg CEO and Trustees present their annual port and financlal statsments for the year ended 31 Mah 2024. The financial slalements have been prepared in accordance with the accounting policies sel out in note 1 to the financial slalements and Comply with the charity's goveming docurnenl, the Charities Act 2011 and 'Accounling and Repo.ng by Charities.. Slalemenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporling Standard applicable in the UK and Republic of Ireland IFRS 102}. (effective 1 January 2019}. Oblectlves and actfvltles The objects for which the Charitable Incorporated Organisalion is established and lo which it is specifically Teslricted are lo promote the followng purtx)s8s for banefil of th8 public andlor older people in and around th8 area of benefit.. Preventing or relieving the poverty of older people. Advancing education for older people. Preventing or relieving slckness, disease OT suffering In older people Iwhelher emotional. mental or physicall. Promoting equality and diversity in relation lo older people. Assisting older people in need by reason of ill-heallh, dlsabllity, financlal hardshSp, sodal exclusion or other di5advantages,' and To promote such other charitable purposes (which may be for the benefit of persons other than older people) as the Trustees may from lime to lime decide where such purposes are directly or indirecdy aligned lo or further any one or more of the above. Chalrfs Report 202312024 has sepn thp continiJg.d ri%k in trnt r)f liwno whir.h hA inrrg_xgd IhA finxnr.ixl r)rAqurÈs fxrAd hy i1* All Thanks lo the resilience and dedicated work of our staff and volunteers we continue lo thrive. l am also pleased lo report that we continue lo work with other local AGE UK charities which has benefitted the clients within North and South Worcestershire. Changes on the Board have ensured we continue to have Trustees with a broad mix of skills and experience to support our work. We welGomed, during 2023124 the followi1i9 Tiustee Board memkrs- Lucy Chatwin C?ail MAlkin David Savage
AGE UK BROMSGROVE REDDITCH AND WYRE FOREST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achievements and Performance As an org8nisalion we will continue to build on èxistin9 SèIVICaS 8nd ¢on¢entrate on thè dèlivéry of high-qu81ty services lo people over the age of SO in North Worcestershire. Retail Total shop income was £748.128 which was a decrease of £11.357 compared to 2022123. This was mainly due lo (he temporary closure of the Malchborough shop in O¢lobgr 2023. A leaking roof caused a Considerable amount of damp and mould. This closure resulted in a loss for Matchborough of £15,812 compared to the previous year. Our fvmiture shop on the High Street, in Bromsgrove. has completed its second full financial year. Total income was £187,447 which resulted in a profil of £81,106. Providence Road. Bromsgrove, had their best year so lar with income of £201,098 an¢J made a profil of £114,089. The income was £14,919 up on the previous year. The total sales for eaay were £65,169 which was down £7.442 compared to the previous year, also due to Matchborough being closed from October a5 their 2022123 sales were £11.83312024 £7,839). Rags income was £27,459 a small increase compared lo the previous year. This was slightly surpri3ing as the rag price continues lo drop due lo a backlog of stock wailing to go lo Africa. Information and Advi¢e Serrfice The Information & Advi team comprises a Service Manager, six I&A Officers, kn I&A Assistants and volunteers. The sèrvice operates from the Head Office on Windsor Street in Bromsgrove and is delivered by telephone. email and face-lo-face meetings. Throughout 2023-24, the I&A Setvice promded face-to-face appointments with advisers from 09=00 to 16.'00. five days a weeK at Ihe office In tjromsgrove ano tsy home visil. I here was a150 a drop-ln seNi¢e at brom5grove olfice on four days a week- a day of closure was introduced from November 2023 as a means of managing demand. The service continued to face ¢hallenges arising from the energylcost-of-living Crisis, leading to an increase in the number of clients requesting advi about claiming welfare benefits. The complexity of client enquiries also increased, with clients requiring multiple Contacts with advisers to achieve the desired outcomes of benefits awarded, Blue Bad9è obtsin$d, and re1$Pp0rt provision bging put in place. By March 2023 we had recruited and trained four new staff members. Going into 2023124 with a full Complement of staff pul the service in a qood Dosity'on lo increase the number of appointments available. and this remained the case until one adviser left the service in September. A new part-time adviser was re¢ruited in Novamber 2023 but during their tralning period of six months. they were unable lo take on enquiries independently. In 2023124 the serwce engaged with 3,818 clients12023 - 2.8581, of which 1,62712023 - 1.7361 were new to Age UK BRWF. There were 5.877 enquiries. 12023 - 7,009} made by these clients with issues relating to welfare benefits being the most common enquiry 12.635 enquirios on this topicl. Clients were assisted lo Claim welfare benefits worth £1.308.267.00 annually12023- £958,593). 'Each individual client may initiate several enquiries covering a(fvice topics such as welfare benefits, social Care, and housing. Age UK BRWF remained a partner in the Worcestershire Advice Network IWANI and this neork (led by Citizens AdvSce Worcesterl was successful in bidding for a contract with Worcestershire County Council lo providg Information & Advice across Worcestershire, wth funding secured for three years from October 2023. The service also received another r(HJnd of fvnding from Age UK'S EON Warm Homes Project undertaking benefit checks and energy saving advice lo minimise the impact of fuel poverty belween Seplernber 2023 and March 2024.
AGE UK BROMSGROVE REDDITCH AND WYRE FOREST TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 At Home Service The Al Home sèrvice, which provides cleaning and gardening services. continues to provide a service to around 200 clients per month, a slight decline since last year due to a shortage of staff. Recruilmenl is still one of o¢Jr biggest challenges as wilhoul new staff we cannot move fonNard and grow the service as quickly as we would like. This is something the Charity will continue lo address by advertising through multiple channels and by attending local Job fairs and employment events. Referrals for cleaning continu8 to come in daily which shows there is still a mud)-needed demand for the seNice across our three geographical areas. Our Footcare seNce has also seen a rise in referrals. especially in the Wyre Forest area. All three dinies continue to prove popular. Befn'endin and Care Calls Service With the pandemic now behind us the demand for services from the local communities served by Age UK BRWF continues to grow. Whilst many of the older populabon remain at home, and with some families no longer working from home or having that flexibilrty. our services remain a lifeline for many. Our Befriendars provide more than companionship. They are a lifeline lo the wider community and encourage membgrs to engage wth othcrs. to actively scck out ncw acquaintanccs and rcconncct with old friends. Whcrc appropriate, support is given to rejoin activities previously enjoyed and lo foster confidence lo rebuild nerkS which were lost during thè pandemic. Age UK BRWF was awarded £72.367 in National Lottery Funding in June 2023 to enable us lo dèliver these wtal socialisation serVIS for a further three years. The Befriending volunteers now take members tol Short walks. engage In Age UK LIKVVF organise¢J Outings. and even lo join in mild exercise classes where appropriate. Social connection to the wider community is an essential part of maintaining the health and wellbelng of our older community, helping to allevlate the loneliness and fear resulllng from two years of pandemic induced isolation. Although many older people were lonely and isolated before the pandemic the support of Age UK BRWF has helped lo inlroduce such people back into society, encouraging them lo enjoy the basic human need for eompanionship and social interaction. 142 referrals were made to the Befriendingl Care Call Servi during 2023124. comprising weekty face to face visits or telephone calls. An average face lo face contact lasts 2.5 hours, whilst a call can take 30 minutes dependent on an individuals, p•rgonal circumstances and whother thoy noed additional support. Appr0matelY 350 Cardslletters are sent out annually al Christmas. for Birthdays and lo cheer people up. We currenuy have 52 volunteers suppo"n9 this valuable setvice but are actively looking for more. Regular 'get logelhers, for Befrienders and their clients are proving suc¢essftJl, and il is gratifwng to $99 new friendships being formed. Everyone looks forward to these monthly rNeetings over a cup of tea. The serw remains a key free service at Age UK BRWF and one which we conts'nue to support and develop. Activities Feedback surveys distributed across all of Age UK BRWF'S Groups & Activities al the beginning of the year resulted in 80 responses. 98.8Qlo of those that responded saitj that they felt that the Age UK BRWF sessions were well run, which was pa"CularlY positive given the relocation of the Charity's long-established Communily House Groups lin Reddilchl lo the YMCA Willow Trees Community Centre in January 2023. following Reddilch Borough Council's announcement of ils intention to sell Community House. The eslablishmenl of Willow Trees as a key Age UK BRWF venue In Redditch was reinforced by the hosting of a 'Community Get Together, event al the Centre in June (funded by a grant from Reddilch Borough Council's VCS fundl, one result of which was the eslablishmenl of a new Age UK BRWF Foot Carg clinic al the Centre. Funding from Bromsgrove District Council's Social Pres¢ribing Fund onabled the launch of a new Art Group al Amphlett Hall lin Bromsgrovel in September and a Tai Chi Class in Ca15hill al the beginning of Odober. During the Autumn, the Amphlett Hall Computer Group also hosted three cotnmunity Information & Coffee Momings focusing on 'lNin9-¢n-the-online-worfd'.
AGE UK BROMSGROVE REDDITCH AND WYRE FOREST TRUSTEES, REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The Tullp Tree Friendship Group celebrated its lead volunteer, Chris Hall, being named Age UK 8RWF's 2023 Volunteer of the Year with partnership opportunities also being explored with the 'Kidderminsler Town on Tour, project to develop new activities in Wyre Forest. Bromsgrove Men In Sheds continued lo be one of the Charity's most popular groups with weekly session nLJmb8fS increasing frotn four to six during the course of the year, induding the introduction of a 'mixed' gender Session in March 2024. During the course of the year the Shed held several events. including 'Twiddle Board Day, supporting members of the Ormerod Rutter team in making Twiddle lo help local people living with dementia. and hosting the NHS Health Bus lo raise awareness of men's health, as well as continuing lo be involved in a range of community projects. By the final quarter of the 2023-34 financial year, average weekly attendance across all Age UK BRWF Groups & Activities had increased lo over 200 people. Fundin for Pro ects The following is a summary of additional funds, we have received from Trusts, Organisalions and Local Authorities for specEfic projects during 202312024 Lottery Fund £23,109To support our Befrignding Setvice Reddit¢h Borough Council Age UK £1,996 To develop activities in Redditch £28,204 For support during the cost of living crisis Bromsgrove District Council £1,492 To SupportActivities in Reddilch Donations and Fundraisin Donations for I&A were £2,318 and for Men In Sheds tolalled £6.694 The renewal of the Shed Share Scheme continued lo raise £1,705 towards Men In Sheds operating costs. We recelved one legacy of £29J in 2023124 Volunteers Our Volunteers are vgry important to us. Thelr support Is Invaluable and they are a ts1 part of the Age UK BRWF Team. Our volunteers provide support in a variety of ways.. assisting in our Charity shops.. answering th9 phones and completing forms within the Information and Advice Setvi¢e,' helping to organise and njn activrties,. assisting Age UK BRWF with fundraising,. and becoming Befriend8rs. Finan¢ial revigw The main contributions to the Charity's finances for ils services continue lo be from ils Retail Shops. At Home Service, Charitable Trusts and Local Aulhorilies. Charitable giving by individuals also makes an important contribution lo our SeiCe$ and activities. During the year to 31 March 2024, the Charity received total income of £1,164,43412023- £1,198.1311. In the same period, £1,274,834 12023 £1,078,431) was spent in pursuit of the Charity's objects. generating a deficit of £110,40012023 - Surplus £119,700). As at 31 March 2024 £78,60612023 - £137.5981 w85 held as restricted funds and £1.090,22312023 - £1.141.6311 was held as unrestricted funds. Our trading activity made a surpllts of £46,000, the overall defiol is largely as a result of dealing with historic revisions relating to the under reporting of depreciation and dilapidation provisions. Reserves policy Age UK Bromsgrove, Redditch and Vvyre Forest continue to monitor their level of reserves. Our policy is to designate not less than £200,000 of the Charity's reserves for cessation and adverse trading conditions.
AGE UK BROMSGROVE REDDITCH AND WYRE FOREST TRUSTEES, REPORT (CONTINUED FOR THE YEAR ENDED 31 MARCH 2024 Plans for future parlods A 3 year corporate plan has been agreed up to 2026. Our major focus for the coming year is lo increase the retsil part of our ath"vilies. to help fund our charitable functions. The Matchborough Shop. in Redditch, reopened on 22 July 2024 and is currently doing well. Our new shop in Winyales Cenlre, in Reddilch opened. on 15th August 2024 and il is planned to open OUT first shop in Kidderminsler during the year. StrUre. governance and management Age UK Bromsgrove, Reddit¢h and Wyre Forest is a Charitable Incorporated Organisation ICIO}. The Charity is governed by ils Constitution adopted in 2016 and reviewed and updated in 2021. The trustees who seNed durlng the year and up to the dale of Signatu of the flnanclal slalements were.. Mr R J Cusiance (Resigned 2 May 20241 Mr J Burbeck (Resigned 24 August 20241 hArs K Sharpe Ms P Capel Ms M Snook Mr J Godsall Mr D Williams Dr J Shapiro Mrs L cha1n Mr D Savage Ms G Malkin (Resigned 16 May 20241 (Resigned 15 February 20241 (Appointed 23 May 20231 (Appointed 12 October 2023} IAppoint•¢J 12 O¢tob•r 2023} The Chlef Execuuve Offlce has a team of five Senior Managers induding the Deputy CEO. Durfng 202312024 the Board convened quarterly, and the Chief Executive OffKer met regulaTly with the Chair. The Charity's strate9ie dtsa$ione ere tsken by thg Board with its day to day oporation6 dèlagatod to the Chigf Executive and her team. Pay and remuneration decisions are taken by the Board based on th8 advice of the Chief Exgcutive and benchmarked to reflect market conditions. We conllnue lo be part of the Agg UK Brand Partngrship and meet its membership requirements. We regularly attend Age UK Regional Meeting and Age UK Conferences throughout the year. We also regularly participate in forums, boards, partnership and group meetings within Worcestershire. Brornsgrovè, Reddilch and Wyre Forest and the wider Worcestershire area. Risk Managernent A risk register is in place. circulated lo Board rnembers quarterty. and the risks are reviewed and discussed as necessary al every Board meeting. All areas of adivily are reviewed and poliaes and procedures relating to them updated. Specific policies such as those relating lo vulnerable adults are in place and staff attend relevant safeguarding training as required by their roles. Major risks are identified and have mitigation procedures in place. which are reviewed periodically. I necessary insurances are in place. including professional indemnTty. and are reviewed regularfy. DBS checks are carrled out as necessary for those staff. volunteers and Trustees for whom they are required.
AGE UK BROMSGROVE REDDITCH AND WYRE FOREST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 stat8mént of trustÈ•$' ré8pon8lbllltl88 The tnJsteos 8re responslble for weparing the Trustees. Report and the finanLll31 statements In accordance wth applieablo law and Untted KingdDm Accounting Standards ILtr)it8d Klngdom Generally Aceept8d Accountlng Practic81. Th61gw appllcèble to chari1185 in England and Wales requires thg tW81ees to prepar6 financlal statern8nts for aach financial year which give a true and fair view of the state of affairs of th8 charity and of tha incomlng resour¢8s and appllcalon ol resources of the tharity for that year. In preparing these finanaal statements, the Iruslees a requir8d to.. se16¢1 sullabIe aGcounting polieles 2nd then apply them consistenly,. observe the methods and prlnciples in th8 Charftiès SORP.. m£ke judgements and estimate5 that are reasonable and prud8nl', sl8t& whelher appllc•tAe accounllng s18ndards have been follow&l. subject to any materfal departures dlsdosed and explalned in the finanaal slatwnents." and prepare the financAal stan]eI5 Ili¥ g01Trg GonGem bas15 unlees 11 ts Inapproprfaie to presume thar the charfw VAII cononue In operauon. Th8 trustees ar8 r8sponslble for k6eplng sufficlènt OUnng records that disdose wlth reasonabl¢ acraCY Qt any lirne the flnan¢ial posluon of th8 charity and 8nabl8 Ih8m lo esUrE., that tha flnanaal statements comply with thg" Charities Act 2011, the Charity IA¢counts and Reports) Ragul8tion$ ')008 and the provisions of the trust deed. Théy ara also rèsponslble for safeguardlno the 8s80ts of the ch8rftv sid hence for tsking r6asonabla steps for thè pr8V8nNon and d&lfj¢tion of fraud and other Irregularitias. The tru51e8s' repar.- was approved by thè BoBrd ofTrust. Dr J Shayro Chalr Date= ...
AGE UK BROMSGROVE REDDITCH AND WYRE FOREST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF AGE UK BROMSGROVE REDDITCH AND WYRE FOREST Opinion We have audited the financial statements of Age UK Bromsgrove Reddilch and Wyre Forest Ilhe 'charity'} for the year ended 31 March 2024 whlch comprise the statement of financial aclivilies, the balance sheet, the statement of cash flows and notes to the financial stalemenls, including 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 FinanGial R8poKting Standard &pplicabl8 in the UK and Republic of Ir8land (United Kingdom Generally Accepted Accounting Praclicel. In our opinion, the financial slalements.. give a true and fair view of the stale of the charity's affairs as at 31 March 2024 and of its incoming resources and application of resources, for the year then ended.. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with tha r8quirèm8nts of the Charities Act 2011. Basls for opinion We conducted our audit in accordance with International Standards on Auditlng IUKI IISAS (UKII and applicable law. Our responsibilities Under those standards are further described in the Audilorfs responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical rcquircmcnts that are relevant to our audit of th8 financial st8t8ments in the UK, in¢luding the FRC'8 Ethi(al Standard, and we have fulfilled our other ethical responsibilities in accordance with these requi ments. We believe that the audit evidence we have oblwn8d is sufficient and appropriate lo provide a basis for our opinion. Conclusions relatlng to golng Concern In auditing the financial statements, we have concluded that the trustees, use of the golng concem basis of accountsng In the preparation ot the tinancial statements is appropriate. Based on the work we have perfomied. we have not identified any material uncertainties relating lo events or condltlons ihai, ineividually or colleuively, may cast significant doubi on the charily's abiliiy io Continue as a going concern for a period of al least twelve months from when the financAal slalements are aulhorised for issue. Our respDnslbllltles and the responslbllllles of Ihe trustees wllh respea io golng concem a descrlbed In ihe relevant sections of this report. Other infomation The other information comprises the infomiation included in the annual report other than the financial ststemenls and our auditor's report Ihereon, The Iruslees are responsible for the other Information contsSned within the annual report. Our opinion on the financial slalemenls does not cover the other information and we do not express any fom) of assurance conclusion Ihereon. Our responsibility is lo read the other information and, in doing so, consider whether the other infomiation is materially in¢onsislenl with the financial stslements or our knowledge obtained in the course of the audit. or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to determine whether this gives rise lo a material misslatemgnt in the financial statements themselvès. If, based on the work we have p&rformed, we con¢lude that there is a material misslalement of this other infomiation, we are required to report that fact. We have nothing lo report in this regard. Matters on which wè are required to report by exception We have nothing lo report in respèct of the following matters in rèlation lo which thè Charitiés IA¢cotJnts and Reports) Regulations 2008 require us to report to you if, in our opinion.. the information given in the financial statements is inconsistent in any material respect with the trustees, report.. or sufficient a¢counting records have not been kept.. or the financial ststements are not in agreement with the accounting records.. or we have not received all the Informatton and explanatlons we requlre for our audll.
AGE UK BROMSGROVE REDDITCH AND WYRE FOREST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF AGE UK BROMSGROVE REDDITCH AND WfRE FOREST Responsibilities of trustees As explained more fully in the statement of Iruste8s' responsibilities, the trustees are responsible for the preparation ol the financial statements and for being satisligd that Ihey give a true and fair view. and lor such internal control as the trustees determine is necessary lo enable the preparab'on of financial ststements that are free from material misstalemenl, whether due lo fraud or efror. In pieparing the financial slatomenls, the truslees are responsible for assessing the charity's ability to continue as a going concern. disclosing, as applicable. matters related to going concern and using the going concem basis of accounting unless the trustees either intend to cease operations. or have no reali51ic alternative but to do so. Auditor'5 responslbllities for the audit of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relèvant regulations made or having effect Ihereunder. Our objectives are to obtain reasonable assurance aboill whether the financial slalements as 8 whole are free from material misstatement, whether due lo fraud or error, and lo issue an auditorfs report that inclLJdes our opinion. Reasonable assurance is a high level of 8ssuran¢e bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material misstatement when it exists_ Misstaternents can arisè from fr8kJd or error and are considered material rf, individually or in the aggregate, they could reasonably be expected to influence the economic decisK)ns of users taken on the basis of these financial slalements. The exient to which our procedures are capable of detecting irregularities. including fraud. is detailed below. Based on our understsnding of the charity, wa identified the principal risks of non-compliance with laws and regulations including those that have a direct impact on the preparation of the financial statements and the exlenl lo which non-compliance might have a material effect on the financial slalements. Audit procedures performed Intludod digtugsions with management, review of board meeting minuies, testing of journals. designing and performing audit procedures and challenging assumptions and judgements made by management in relation lo accounting eslimales. There are inherent limitations in Iho audit procedures described above. We are less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflectéd in the financial statpmants. Alqn. tha risk nf nnt dotftrting a matorial miqqtatement due to fraud is higher than Ihg risk of not deteeting one resulting from error. as fraud may involve (Seliberale coneèalmenl by, for èxample. forgery or Intentional misrepresentations. or through collusion. A further description of our responsibilities is available on the Financial Reporting Council's website al= https'.11 www.frc.org.uklaudilorsresponsibilitias. This d8scription forms part of our audilols report. Other mattgrs Your attention is drawn lo the fact that the charity has prepared financial statements in accordance wilh-Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland IFRS 102}. las amended) in prefenCe to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 whlch Is referre(I lo In the exlanl regulations bul has now been wlthdrawn. This has been done in order for the financial slalemenls lo provide a true and fair view in accordance with Current Generally ACpted COunting Practice.
AGE UK BROMSGROVE REDDITCH AND WYRE FOREST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF AGE UK BROMSGROVE REDDITCH AND WYRE FOREST Use of our report Thi5 report is made solely to the charily's tiustees, as a body. in accordance wilh part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might stale to the charity's Iruslees those matters we are required to slate to them in an auditorfs report and lor no other purpose. To the fullest extent pemitted by law, we do not accept or assume responsibility to anyone other than the charity and the charty's trustaes as a body. for our audit work. lor this loport. or for tha opinions we have forrnod. Colm McGrory FCA (Senior Statutory Audltor) for and on behalf of Ormerod Rutter LSmlted a5.Ji.o. J20a* Chartered Accountants Statutory Audltor The Oakley Kiddemiinsler Road DrO1leh Worcestershire WR9 gAY
AGE UK BROMSGROVE REDDITCH AND WYRE FOREST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Restricted fund5 funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Notgs Incomè and endowments fTOm: Donallons and legacles Charitable activities Other trading activitlas Investments Other income 44.661 270.027 765,624 13,315 14,731 44,661 326,103 765,624 13,315 14,731 36,217 287,291 782,900 1.839 36,217 377,175 782,900 1.839 56.076 89,884 Total incom• 1,108,358 56,076 1,164,434 1.108.247 89.884 1,198.131 Expenditure on: Raising funds Charitable activities 724,125 451,053 61.476 38,180 785,601 489,233 667.310 375,819 22.444 12,858 689,754 388.677 Total expendlture 1,175,178 99,656 1.274,834 1.043,129 35,302 1.078.431 Nel incomellexpenditurel 166,8201 143,5801 1110,400} 65,118 54,582 119.700 Transfers between furFds 15,412 115,4121 Net movement in funds 12 151,4081 158.9921 {110,4001 65,118 54,582 119.700 Reconciliation of funds,. Fund balances at 1 April 2023 1.141,631 137,598 1,279,229 1,076,513 83,016 1,159.529 Fund balances at 31 March 2024 1.090,223 78,606 1,168.829 1.141.631 137,598 1,279,229 The slalemenl of financi81 aotivities includes all gains and Ioss8s recognisad in the year. All incom8 and expenditure derive from Continuing actiwlies. 10-
AGE UK BROMSGROVE REDDITCH AND WYRE FOREST BALANCE SHEET AS A T 351 MARCH 2024 2024 2023 Not¢s Fixed ass8ts Tangible assets 16 83.373 140.147 Cuent assets Debt¢r8 Cash at b8nk and in hand 17 61,606 1,199,998 104.293 1,133.585 1.281.604 1,237.878 Credltors: amounts falllng due wlthln one year 18 139.7481 {98.7981 Net ¢urrent assets 1221.856 1,139,082 Total assets l&ss current liabllitles 1 POS,229 1,279,229 Provlslons for IlablIltles 1136,4JO) Net assets excluding penslon Ilability 1.168.629 1,279.229 Net a$ssts 1,168,829 1,279,229 The funds ofthe eh4rlty R8strid8d Income fvnd Unrestricled ndS 21 78,608 1,090,223 137.S98 1,141,631 1,168.820 1,270 fj20 Tlie nnafLial Stat11[1 wvity by on . 202<k Dr J Shapiro Chalr
AGE UK BROMSGROVE REDDITCH AND WYRE FOREST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operatlng activities Cash generated from operations 27 66.470 114,331 Investing activities Purchase of tangible fixed assets Investmènt income received {13,3721 13,315 13001 1.839 Net cash {tssed Inllg8narated from investing activitlos 1571 1,539 Net cash usod In flnan¢ing activitles Net Increase In cash and cash •qulv41ents 66.413 115.870 Cash and cash equivalents at beglnning of year 1.133,585 1.017.715 Cash and cash equivalents at end of year 1,199,998 1,133.585 12-
AGE UK BROMSGROVE REDDITCH AND WYRE FOREST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting poll¢ies Charlty Information Age UK Bromsgrove Reddilch and Wyre Forest is a charitable incorporated organisalion ICIOI wlh the Charity Commission for England and Wales. The registered office is 51 Windsor Street. Bromsgrove. wOrlershire, 860 28J. 1.1 Accounting eonventlon The accounts have been prepared in accordance with the charity's constitution, the Charities Act 2011 and 'Accounting and Reporting by Charities.. Slalement of Recommended Practi applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Sreland IFRS 1021 las amended for accounting periods commencing from 1 January 20161. The charity is a Public Benefit Entity as defined by FRS 102. The ffnanci81 ststemenls are Prepared in sterling. which is the functs'onal currency of the ¢harty- Monetsry amounts in these financial statements are rounded lo the nearest £. The flnancial stslemonts have been prepared under the historical cost convention. The principal accovnling policies adopted are sel out below. 1.2 G¢ing Concern At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources lo continue in operational existence for the foreseeable future. Thu5 the tru5tee5 continue to adopt the going concern basis of accounting in preparing the financial staleThenls. 1.3 Charltable funds Unrestricted funds are available for use at the discretion of the trustees in furtheran of their charitable objoctives. Restricted funds are subject to specific conditions by donoTS or grantors as to how they may be used. The purposos and uses of tlie restri¢t¢iJ funds ar¢ set gut in IlTre notes ¢0 11)¢ fiiiaiiGial stateiiients. 1.4 Incoming resources Income is rewgnised when the charity 15 legally enlilled to il after any perforrnance con¢Jilions have been met. the amounts can be measured reliably, and il is probable that incotne will be received. Cash donations a recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tsx recoverable In lation lo donations recetved under Gift AWJ or deeds of covenant is recognised al the lime of the donation. Legacies are recognised on receipt or otherwise the charity has been notified of an impending distribution, the amount is known. and receipt is expected. If the amount is not known, the legacy is treated as a conlingenl asset. A55ets lor distributKJn are recognised only when distributed. Assets given for use by the charity ale recognised when receivable. Stocks of undistributed donated goods are not valued for balance sheet purposes. 13-
AGE UK BROMSGROVE REDDITCH AND WYRE FOREST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcles Icontlnued) 1.5 Resources expended Expenditure is recognised once there is a legal or construcllve obligation lo transfer economSc benefit lo a third party. il is probable that a transfer of economic beneffts wll be required in settlernenl. and the arnounl of Ihe obligation can be measured rellably. Expenditure is classified by 8¢livity. The costs of each activity are made up ot the total of dlreet Costs and shared costs, including support ¢osls involved in undertaking each activity. Direct costs attributable lo a single 8Ctlvity are allocated directly lo that aclivily. Shad costs which contribute to more than one aclivty and support costs which are not attributable to a single activity 8T& apportioned between those activities on a basis nsistenl with the us@ of resources. Central staff costs are allocated on the basis of lime spent, and depreciation charges are allocated on the portion of the asset's use. Resources expended for the cost of generating funds. govemance and charitable activities are included in the Stslement of Financial A¢tivities on an accrual's basis and are matched against in¢ome resources. Where costs cannot be diredy attributèd to particular hèadings thay havè bèan allocatèd to activiuès on a basis consistent with the use of resources. 1.6 Tangible fFxed assets Assets costing £500 or more are capilalised as tangible fixed assets and are carried at cost or valuation. net of depreclalion and any impairmonl losses. Depreciation is recognised so as lo write off the c051 or valuation of assets less their residual values over their useful lives tsn the following bases.. Fraahold land and buildings Fixtures and fittings Computer equipment Motor vehicles 50 years on cost 5 years on cost 3 years on cost 5 years on cost The gain or loss arising on the disposal of an asset is determined as th8 difference beOn the sal@ proceeds and the carrying value of the asset, and is recognised In the statement of financial activities. 1.7 Impairment of fixed assets Al each reporting end dale, the charity reviews the carying amounts of ils tangible assets lo determine whether Ihere is any indication that those assets have suffered an irnpairmenl loss. If any such indication exists, the recoverable amount of the asset is ests'maled in order to determine the extent of the impairment loss lif any). 1.8 Cash and cash equivalents Cash and ca$h equivalents include cash in hand, deposits held at call with banks, other short-lerm liquid investments with original malurilies of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. Baslc fAnanGial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction prl¢e including Iran5action costs and are subsequently cariied at amortise(I cost using the effective interest method unless the arrangement constitutes a financing Iransaclion, where the transaction is measured al the present value of the future reipts discounted al a market rale of interest. Finanaal assets lassified as receivable within one year are not amortised. 14-
AGE UK BROMSGROVE REDDITCH AND WYRE FOREST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles Icontlnugdl Basic financial liabilities Basic financial liabilities. including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing Iransaclion. where the debt instrument is measured 81 the present value of the future payments diseounled al a market rale of interest. FinancSal liabilities dassified as payable within one year are not amortised. Trade creditors a obligations lo pay for goods or servlces that have been acquired in the ordinary course of operats'ons from suppliers. Amounts payable are ela5sified as current liabilities if payment is due within one year or less. If not. they are presented as non-currenl liabili118s. Trade creditors are recognlsed InlUally al transaction pric8 and subsequently measured at amortiS8d cost using th8 èffective interest method. Derèeognitlon of flnanclal Ilabllltles Financial liabilities are derecognis8d when the charity's contractual Obligatn$ gxpire OT are discharged or cancelled. 1.9 Provlslons Provisions are recognised when the charity has a legal or conslru¢live present obligation as a result of a past event, it is probable that the charlty wlll be requlred to settle that obllgation and a reliable estitnate can be made of the amount of the obligation. The amount recognised as a provision is the best estimate of the consideiation required to settle the present obligation at the reporting end dale, laknng into account the risks and uncertainties surrounding the obligation. Where the effect of the lime value of money is material. the amount expected lo be required lo settle the obli9ation i& ieGogni5ed at present value. When a provision is m¢a&ufEd at present value, the unwindin9 of the discount is recognised as a finance cost in net incomel(èxpendilurel in the period in which il arises. 1.10 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. 1.11 Retirement benefits Pxympnt to dpfined contrbution retirement benefit srth¢m$ arè c.haro•.d #s #n p¥p9n. A thAy fAII dij 1.12 Grant policy Capital grants are recognised as designated income when receivable and this shows a true and fair vlew. In a¢cordan¢e wrth the Charities SORP IFRS 1021. 1.13 Government grants Govemment grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be mel and the grants will be received. A gmnt that Specifies performance conditions is recogni5ed in income when the performance conditions arg mel. Where a grant does not specify performance conditions il is recognised in income when the proceeds are received or receivable. A grant received before the rectsgnition criteria are satisfied is recognised as a 15-
AGE UK BROMSGROVE REDDITCH AND WYRE FOREST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Critical a¢¢ounting estimates and judy•monts In th8 application of the charity's accounting policies, the trustees arè required to make judgements, eslimales and assumptions about the carying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on hislorlcal experience and other factors that are considered lo be relevant. Adual results may differ Irom thèse 8slimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in whid) the estimate is revised where the revision affo¢ls only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Donations and 1ogacle$ 2024 2023 Donations and gifts 44.661 36.217 Donations and gifts Donations Legacies Gift aid Other 20,745 290 21,921 1,705 16,862 19,355 44,661 36,217 Income from charitable activities 2024 2023 Grants receivable Fees and charges 119,112 206.991 179,637 197.538 326,103 377.175 Analysls by fund Unrestricted funds Reslricled funds 270,027 56,076 287,291 89.884 326,103 377.175 16-
AGE UK BROMSGROVE REDDITCH AND WYRE FOREST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from charltable activitles {Conllnued) Performance related grants analysis 2024 2023 Age UK Partnershlp Worcester County Council Age UK Benefits National Lottery Funding Ki¢kslart Other Worcestershire Advice Network Age UK- Cost of Living SoEial prescribing 10.000 10.000 24,167 12,055 15,434 14,575 8.599 29,807 10,000 55,000 22,110 23,109 1.996 31.500 28.905 1.492 119,112 179,637 Other tradlng aetivities 2024 2023 Activities for generation of fun(Js Membership subscriptions and sponsorships which S in substance a payment goods and services 765,084 782.850 50 Other trading activities 765,624 782.900 I0$tments 2024 2023 Interest receivable 13.315 1.839 Other income 2024 2023 Commissions Income VAT recovered 2,862 11,869 14.731 17-
AGE UK BROMSGROVE REDDITCH AND WYRE FOREST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Ralslng funds Unrestrictsd Restricted funds funds 2024 2024 Total Total 2024 2023 raisin and ublicrt Other fundraising costs Depreciation and impairment Support costs 641.994 3.873 78,258 641,994 3,873 139,734 584.746 5.102 99,906 61,476 724,125 61,476 785,601 689,754 For the year gnded 31 March 2023 Fundraislng and publicity 667,310 22.444 689,754 18-
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AGE UK BROMSGROVE REDDITCH AND WYRE FOREST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 10 Descrlptlon of charltable activities InfoTmation & Advice To offer help and support on a range of topics including soclal care. benefits and penslon adce. staying safe. W8rm and independent al home as well as support for carers. Social Activities A variety of classes and activities to keep people active. Practical Su ort Help al Home service 10 5UPPOrt people to remain independent in their own homes and the bfyfiignding service lo support people in their own homes through regular Calls or visits. Governance To sUPPOrt the running of the charity. Pro ects Projects to support the specific n8eds of th8 community. 11 Sijpport eostg Support Governance costs costs 2024 2023 Staff Costs Depreciation Professional 16es Office costs Telephone. printing and postage Sundry èxpenses Bank charges Rent. rates and ulililies Activities Accountancy fees 124,822 66,273 6.841 16901 199 125.021 66.273 6,841 16901 114,707 Yo allocation 3,661 % allocation 10,768 % allocation 4.081 Yo allocation % allocation 11,810 {1.2131 587 14.007 208 20 78 11.830 11,1351 587 14.838 208 8,339 8,126 2,327 % allocation 1,528 % allocation 13,168 % allocation 11401 % allocation 7.494 Governance 831 8,339 222,645 9,467 232.112 165.700 Analysed bètween Fundraising Charitable activities 139,734 82,911 139,734 92.378 99.906 65.794 9,467 222.645 9,467 232,112 165,700 Govemanc8 costs indudes fees to the auditor of £8.339 for audlt fees 12023.. £7,494 for audit fees). -21
AGE UK BROMSGROVE REDDITCH AND WYRE FOREST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 MARCH 2024 12 Net movement In funds 2024 2023 The net movement in funds is stsled after thargingl(¢reditingl: Depreciation of owned tsngible fixed assets 70.146 8,763 13 Trustees None of the trustees (or any p8rsons connected with Ih8ml rec8ivèd any remuneration or benefits frorn the charity durlng the year. 14 Employees Number of 8mploy¢es Th8 avèrage monthly numbèr of èmployèe$ during the year was.. 2024 Number 2023 Number Employees 84 80 Employment costs 2024 2023 Wages and salartes Social security Lusts othgr pension costs 767,306 31.444 13.666 719.945 24.454 10,647 812.416 755,046 There were no employees whose annual remuneration was £60,000 or more. The key management peThfjonnel are represented by the roles within management and finance. The totsl employee benefits {in¢luding employer pension conlribulionsl received by key management personnel was £93,355 {2023'. £83,866). 15 Taxatlon The charity Is exempt Irom laxalion on ils a¢tivilies because all 115 income is applied for charitable purposes. 22-
AGE UK BROMSGROVE REDDITCH AND WYRE FOREST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AIARCH 2024 16 Tangible flx8d assots Fr¢ehold land Flxlure8 and and buildings rittlngs Comput8r equlpment Motor vehicl9$ Total Cost At 1 April 2023 Additions Disposals 148,219 31.928 38,827 13,372 110,9341 16,912 235,886 13,372 {44,6301 (21,6351 112.0611 Al 31 March 2024 126.584 19,867 41,265 16,912 204,628 Depreciation and impairment Al 1 April 2023 Depre¢ialion charged in the year Eliminated in respect of disposals 23,130 65.324 121.6351 16,870 3,873 112,0611 38,827 949 110,9341 16,912 95,739 70,146 {44,630} At 31 March 2024 66.819 8,682 28,842 16,912 121,255 Carrylng amount At 31 March 2024 59.765 11,185 12,423 83.373 Al 31 March 2023 125.089 15.058 140,147 17 Debtors 2024 2023 Amounts falllng due wlthln one year: Trade debtors Other debtors Prepayments and accrued income 19,027 5,441 37,138 18,893 5.551 79,849 61,606 104.293 18 Credllors: amounts falling due within one year 2024 2023 Other taxation and social security Trade creditors Other creditors AGcruals and defgrred income 8,667 12.327 6,965 18.534 49,470 23.827 18.754 39.748 98.796 -23-
AGE UK BROMSGROVE REDDITCH AND WYRE FOREST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Provlsions for15abilities 2024 2023 136,400 Movoments on provlslons: Additional provisions In the year 136,400 20 Retirement b•nefrt schemes The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently admini51ered lund. The charge io profit or loss in respect of defined contributron schemes was £13,66612023.' £10,647). -24-
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AGE UK BROMSGROVE REDDITCH AND WYRE FOREST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 22 Unrestrlcted funds The unrestricted funds of the charity Comprise the unexp8nd&d balances of donations and grants which are not subject to specific conoillons by donors and grantors as lo how they may be used. These include designal8d funds which have bèen sel aslde out of unrestricted funds by the trustees for sp8afic purposes. At 1 Apfll 2023 Incomlng resources Resources xpended Transf¢rs At 31 March 2024 Gèneral funds 1.141,631 1.108,358 11,175,178} 15.412 1.090.223 Previous year: At 1 April 2022 Incoming resources Resources expended Tran5fvrs At 31 March 2023 General funds 1.076.513 1.108,247 11,043,129} 1,141,631 Analysis of net assets between funds Unrestricted funds 2024 Rèstri¢ted funds 2024 Total 2024 At 31 Mar¢h 2024- Tangible assets Current asselsllliabililiesl Provisions 83.373 1,143,250 1136,4001 83.373 1.221,856 1136,4001 78,606 1,090,223 78.606 1.168,829 Unrestrl¢t•d funds 2023 Re$trfct8d funds 2023 Totsl 2023 At 31 Mar¢h 2023- Tangibl8 assets Current asselsllliabililies) 140,147 1.001.484 140,147 1,139,082 137,598 1.141.631 137,598 1.279.229 -27-
AGE UK BROMSGROVE REDDITCH AND WYRE FOREST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2024 24 Oparating lease commilmgnls Lessee At the reporting end dale the d)arily had oulstsnding commltments for future minlmum lease payments under non-cancellable 0rating leases, whi¢h fall due as lolk)ws.' 2024 2023 Within one year Between two and flve yeais In over five years 62.929 124,854 60,168 55,929 131,807 69,668 247,951 257,404 Lease paymgnts recognlsed as an expense totslled £50,97912023.. £63,240). 25 Llablllty of n7Ember5 If the CIO is wound up, the members of the CIO have no liability lo contribute to its assets and no personal responsibility for settling ils debts and liabilities. 26 Related party transactlons There were no disclosable related party transactions during the year12023'. none). 27 Cash generated from operations 2024 2023 (Deficilllsurpus for the year {110.4001 119,700 Adjustments for.. Investment income recognised in statement of financial actimties Depreciation and impairrnent (rf tangible fixed assets 113,3151 70,146 11.839} 8.763 Movements in working capital.. Decreasel{increasel in detslors (Deueasellincrease in creditors (Decrease) in provisions 42,687 159,0481 136.400 {54,633} 42,340 Cash generated from operations 66,470 114.331 28 Analysis of change5 in net funds The charity had no material debt during the year. -28-