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 DrO1￿1¢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 Ma￿h 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 trn*t r)f liwno whir.h hA* inrrg_x*gd IhA finxnr.ixl r)rAq*urÈs 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 ne￿ork (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 ne￿rkS 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 serVI￿S 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. Appr0￿matelY 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 Se￿iCe$ 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. StrU￿￿re. 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 cha￿1n 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 sta￿n]e￿I5 Ili¥ g01Trg GonGem bas15 unlees 11 ts Inapproprfaie to presume thar the charfw VAII cononue In operauon. Th8 trustees ar8 r8sponslble for k6eplng sufficlènt ￿￿OUn￿ng records that disdose wlth reasonabl¢ ac￿raCY Qt any lirne the flnan¢ial posluon of th8 charity and 8nabl8 Ih8m lo e￿sUrE., 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 prefe￿nCe 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 AC￿pted ￿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 DrO1￿leh 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 Cu￿ent 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$ssts 1,168,829 1,279,229 The funds ofthe eh4rlty R8strid8d Income fvnd Unrestricled ￿ndS 21 78,608 1,090,223 137.S98 1,141,631 1,168.820 1,270 fj20 Tlie nnafLial Stat￿11￿[1￿ wvity by on . 202 w c c c P- O ¢0 0£ OW) ￿>￿C1￿CL O O- o In EHOI o(n u) &zic(LU AGE UK BROMSGROVE REDDITCH AND WYRE FOREST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 22 Unrestrlcted funds The unrestricted funds of the charity Comprise the unexp8nd&d balances of donations and grants which are not subject to specific conoillons by donors and grantors as lo how they may be used. These include designal8d funds which have bèen sel aslde out of unrestricted funds by the trustees for sp8afic purposes. At 1 Apfll 2023 Incomlng resources Resources xpended Transf¢rs At 31 March 2024 Gèneral funds 1.141,631 1.108,358 11,175,178} 15.412 1.090.223 Previous year: At 1 April 2022 Incoming resources Resources expended Tran5fvrs At 31 March 2023 General funds 1.076.513 1.108,247 11,043,129} 1,141,631 Analysis of net assets between funds Unrestricted funds 2024 Rèstri¢ted funds 2024 Total 2024 At 31 Mar¢h 2024- Tangible assets Current asselsllliabililiesl Provisions 83.373 1,143,250 1136,4001 83.373 1.221,856 1136,4001 78,606 1,090,223 78.606 1.168,829 Unrestrl¢t•d funds 2023 Re$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 0￿rating 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-