2022-10-31-accounts

3 Birkbeck Street, LONDON E2 6JY Tel [phone] [e-mail]

Wise Age Annual Report

Year ending 31[st] October 2022

Wise Age Ltd is a registered charity (charity number 1188629.) Wise Age is the leading specialist 50+ age & employment charity in London This is our third AGM since becoming a registered charity – we were previously a not-for-profit company limited by guarantee and we still retain this limited company status.

1 Objectives and Activities

Wise Age’s Objects, as specified in our Articles of Association, are specifically restricted to: The promotion of equality and diversity for public benefit by:

• a) The elimination of discrimination on the grounds of race, gender, disability, age, sexual orientation, and religion.

• b) Advancing education and raising awareness in equality and diversity.

• c) Conducting or commissioning research on equality and diversity issues and publishing the results to the public.

• d) Cultivating a sentiment in favour of equality and diversity.

As a charity with a specific remit on grounds of age, the above Objects all primarily apply to age issues, though we do also aim to ensure that we apply the same criteria to all protected characteristics. Our activities are as follows:

• a) We work to eliminate age discrimination in all aspects of life, particularly employment.

• b) We offer practical support for over 50s looking for employment or self-employment and promote the benefits of employing older workers to employers.

• c) We show employers the benefits of age diversity in the workplace, matching their needs with older working age adults (50+) seeking work. we carry out research and lobby on behalf of older workers drawing on best practice from across the UK and the EU and our own successful experiences.

• d) We also provide best practice training for organisations wanting to develop employment support services for the 50+ or interested in improving the quality of their existing provision.

• e) Wise Age also campaigns for the active involvement of older people in developing age-friendly cities and services and uses a holistic approach to overcome older people’s poverty, social isolation and loneliness, while promoting intergenerational communication and understanding.

The Trustees have had regard to the Charity Commission’s guidance on public benefit.

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Registered Charity Number: 1188629 Registered Company Number: 08277094

3 Birkbeck Street, LONDON E2 6JY Tel [phone] [e-mail]

During the year under consideration, Wise Age ~~delivered thed~~ elivered the following projects in full or in part, and these generated our income for the year.:

1. Department for Work and Pensions Flexible Support Fund contracts EL061, EL0110, EL111 and EL0112 these contracts cover support for unemployed over 50s in the London Boroughs of Tower Hamlets, Newham and Hackney (all were so-called Category 2 contracts for those who have been long-term unemployed and need more support to become employable. There were no Category 4 contracts with paid employment outcomes).

2. London Councils/European Social Fund contract for the London Borough of Tower Hamlets, to support people who are long-term unemployed of economically inactive towards employability. Delivery of this contract had already ended at the time of the 2020 Annual Report, but as of 31[st] October 2021 we were still awaiting final reconciliations and settlement due to London Councils internal issues.

3. A Grant from City Bridge Trust via London Recovery Board for the provision of IT equipment to digitally excluded clients in the form of loan of relevant devices, as well as online support via our website.

4. A grant from Trust for London to enable delivery of support around employment to over-50s in all London Boroughs, support London businesses in becoming more age-friendly, and improve our website and social media.

5. EQUIP, with funding from ESF via Paddington Development Trust. This was to provide support to over50s living in Hackney and Tower Hamlets who are looking to move towards and into work and training.

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Registered Charity Number: 1188629 Registered Company Number: 08277094

3 Birkbeck Street, LONDON E2 6JY Tel [phone] contact wisea e.or Page 2 of 63 Departmenl for Work & LONDON COMMUNITY F¢PnMRF FIINn European Union P•nRinn European Social Fund Registered Charity Number: 1188629 Registered Company Number: 08277094

3 Birkbeck Street, LONDON E2 6JY Tel [phone] [e-mail]

2 Achievements and Performance

During the year under consideration, Wise Age had delivered, or was still delivering, the following projects:

1. Department for Work and Pensions Flexible Support Fund contracts EL0110, EL111 and EL0112 - these contracts cover support for unemployed over 50s in the London Boroughs of Tower Hamlets, Newham and Hackney (all were so-called Category 2 contracts for those who have been long-term unemployed and need more support to become employable. There were no Category 4 contracts with paid employment outcomes). The Annual Accounts also show an adjustment for EL061 which had actually been completed in the previous financial year.

2. London Councils/European Social Fund contract for the London Borough of Tower Hamlets, to support people who are long-term unemployed of economically inactive towards employability. Delivery of this contract had already ended at the time of the 2020 Annual Report, but final reconciliations and settlement were delayed due to London Councils internal issues, so our final payment was received in the financial year being reported.

3. A Grant from City Bridge Trust via London Recovery ~~Board (B~~ oard (London Community Response Fund) for the provision of IT equipment to digitally excluded clients in the form of loan of relevant devices, as well as online support via our website. 5 laptops and 10 tablets had been purchased as of 31[st] October 2022.

4. A grant from Trust for London to enable delivery of support around employment to over-50s in all London Boroughs, support London businesses in becoming more age-friendly, and improve our website and social media. At 31[st] October we had fully supported 60 individual 50+ clients (target 120) and had 82 more registered who were either being contacted or already receiving support. Some of these clients also attended optional group sessions over Zoom, and some took advantage of the personal support offered by our ~~lifecoachl~~ ife coach. Support to employers ~~had h~~ as been more challenging ~~progessed less swiftly,~~ and we were reviewing how best to deliver this ~~element throughe~~ lement through various initiatives in time for the contract end date of June 2023.

5. EQUIP, with funding from ESF via Paddington Development Trust. This was to provide support to over50s living in Hackney and Tower Hamlets who are looking to move towards and into work and training.

Also key to achieving our objectives is to influence decision makers across London and publicise the employment issues facing older workers, as well as the importance and value of an age diverse workforce. In the year under consideration this has been achieved through:

1. Using our website to publicise material on age and employment including updated guides for over 50s workers and employers.

2. Using social media including Facebook, Twitter and ~~LinkedinL~~ inkedIn to publicise the role of Wise Age and employment issues for over 50s.

Registered Charity Number: 1188629 Registered Company Number: 08277094

3 Birkbeck Street, LONDON E2 6JY Tel [phone] [e-mail]

1. Reviewing latest research on trends affecting over 50s and age friendly employment. This includes a regular analysis of ONS statistics and London specific employment data sets.

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4.	We have been active in lobbying the Greater London Authority and London Boroughs in pursuing an age friendly employment agenda in London. We have helped co-produce the draft Employment section of the forthcoming Age Friendly Action Plan for London and have worked closely with GLA members
	and officers in developing more employment support measures . We also helped shape the London Recovery Board mission on helping Londoners into good work particularly for those older workers facing multiple d isadvantages.

1. We have worked with several London Boroughs such as Sutton and Hackney to help shape age friendly action plans and employment issues. 6. We have also publicised the broader issues ~~of economico~~ f economic and social challenges facing older Londoners particularly poverty and race issues and helped plan a major conference on Poverty of older people in London which was held in late 2022.

2. We have worked closely with other age ~~organsiationso~~ rganisations in London and are core members of the London Age Friendly Forum and participated in its campaigns focusing on disadvantage notably digital inclusion, transport issues including the removal of free travel for over 60s before 9am.

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Registered Charity Number: 1188629 Registered Company Number: 08277094

Page ~~34~~ of 6 ~~f 4~~

3 Birkbeck Street, LONDON E2 6JY Tel [phone] [e-mail]

3 Financial Review

The Company’s last inspected Annual Accounts are appended to this Report. They are made up to end October 2022. They show:

• income of £73,656.91,

• expenditure of £83,619.64, and therefore

• a deficit of -£9,862.73 NB This is largely as a result of a -£8,064.52 adjustment for accounting purposes.

• Net current assets are shown as ~~£846.04£~~ 846.04.

Clearly the deficit and resulting low current assets are cause for concern which the board of trustees was urgently addressing. The main reason was that, following the end of the DWP contracts EL110, 111 and 12, which were issued under the initial Dynamic Purchasing System (DPS), this funding stream ended and was replaced by DPS2. The requirements for funders were considerably more stringent and it took us many months to comply fully with these new requirements. Among a whole raft of new requirements, we had to obtain Cyber Essentials Accreditation, which we succeeded in doing, and we hare now Cyber Essentials accredited and were also approved as a DPS2 supplier. However, as of 31[st] October 2022 we had not succeeded in gaining any new DWP contracts though we had a programme of applying for new contracts on a regular basis ~~. .~~ This ~~though~~ adversely affected our income stream during this time period.

The Board has developed a fund-raising strategy with ~~a fundraisinga~~ fundraising ~~sub groups~~ ubgroup discussed at each Board meeting and works on grant applications from a range of funding sources. ~~. .~~

The Board also aims to build up reserves of £8,000 s soon s this can be achieved.

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Registered Charity Number: 1188629 Registered Company Number: 08277094

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3 Birkbeck Street, LONDON E2 6JY Tel [phone] [e-mail]

4 Structure, Governance and Management

The charity’s governing documents are its Memorandum and Articles of Association. We are a company limited by guarantee, and also a charity registered with the Charities Commission.

The Board of Trustees currently comprised six trustees ~~ato~~ n October 31[st] ~~2022,~~ 2022, and a seventh applicant was scheduled for interview. Board Meetings are also attended by the Chief Executive and the Finance Officer.

The procedure for appointing new trustees is that we may, by ordinary resolution, appoint a person who is willing to be a trustee/director and that we may determine the rotation in which any additional trustees/directors are to retire.

5 Reference and Administrative Details

The Trustees delegate day-to-day management of the charity to the Chief Executive and any other consultants engaged by the charity to deliver services on its behalf.

The current trustees are Valery Small, Peter Murphy, Tim Whitaker, and Nadeya Zaman, Sunny Singh (Sandeep Rana) and Abbas Nurbhai. New applicant Suleman Bhana was scheduled for interview in November ~~20222~~ 022, and we were continuing to advertise for and recruit new board members.

The Chief Executive is Chris Walsh.

The Finance Officer is Barbara Deason.

The accounts are inspected by William Burke BSc Econ Hons, Member of the Association of Accounting Technicians.

Appendix 1 – Annual Accounts Year End October 31[st] , 2022

Registered Charity Number: 1188629 Registered Company Number: 08277094

3 Birkbeck Street, LONDON E2 6JY Tel [phone] contact wisea e.or Page 46-of 64 Departmenl for Work & LONDON COMMUNITY F¢PnMRF FIINn European Union P•nRinn European Social Fund Registered Charity Number: 1188629 Registered Company Number: 08277094

Turnover
LONDON COUNCILSESF	82,403.59		f.2,4O3.59
TrustforLondon		824,630.44	824,630.44
Paddington Development
Trust(EQUIP)	f74,937.5O		8L4,937.50
DWP EAST LONDONEL110, EL111,andEL112	E35,008,00		835,008.00
DWPELO5B	f0.00		f 0.00
DWPELO61	-88,062.54		-88,062.54
DWP ELO43	80.00		f0.00
DWP ELO44	r0.00		f 0.00
ConnectHackney	f 0.00		f 0.00
LondonCommunityResponse Fund(LCRF)	84,739.92		84,739.92
GROSSSURPLUS	849,426.47	f24,63O.44	f73,656.91
Other Income	80.00	f0.00	f 0.00
Interest	f0.00	r0.00	f 0.00
	849,026.47	f.24,630.44	873,656.97

GROSSSURPLUS Other Income Interest Expenditure	849,426.47 80.00 f0.00 849,026.47	f24,63O.44 f0.00 r0.00 f.24,630.44	f73,656.91 f 0.00 f 0.00 873,656.97
RentandRates	f 0.00		80.00
ConsultancyFees	853,922.65	f24,797.35	E78,72O.00
TrainingVenue	82,749.O4		82,709.04
Travel	f 0.00		r0.00
Phones	f792.22		f792.22
Website/Webmaster	€0.00		€0.00
Legal,lnsurance	€1,381.06	f478.29	f.7,799.35
Marketing &Officesupplies	€388,56	E74,BO	[403.36
Equipment& Software	f143.88		E143.BB
AgePlatformEurope	€0.00		f 0.00
Other	f151.80		f151.80
	f5B,B89.2o	f24,630.44	€83,519.64
Surplus	-f9,862.73	f 0.00	-f9,862.73
Total fundsfromlast year	f.Lo,708.77	80.00	Eto,7aB.77
TotalFunds	EB46.O4	f0.00	EB46.O4

31st October 2022
CURRENT ASSETS
Debtors	83,994.00
Cashinbank andathand	829,697.78
	833,691.78
CREDITORS
Amountfallingduewithin 6months	8.5,483.75
Incomein Advance	827,362.00
NET CURRENT ASSETS	8846.03
TOTAL ASSETS LESS CURRENTLIABILITIES

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF WISE AGE

I report on the accounts for the year ended 31 October 2022.

. Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider an audit is not required for this year (under section 144 2 of the Charities Act 2011 and that an independent examination is required.

It is my responsibility to:

• Examine the accounts under section 145 of the above Act.

• To follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145 5b of the above Act: and

• To state whether particular matters have come to my attention.

. Basis of the independent examiner’s report

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items and disclosures in the accounts and seeking explanation from you as trustees concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent examiners statement

In connection with my examination, no matter has come to my attention:

• 1) Which gives me reasonable cause to believe that, in any material aspect, the requirements

. to keep accounting records in accordance with Section 130 of the above act and

. to prepare accounts which accords with the accounting records and comply with the accounting requirements of the above act

. have not been met or

• 2) To which, in my opinion, attention should be drawn in order to enable a proper understanding of the account to be reached

William Burke BSc Econ Hons

Member of the Association of Accounting Technicians:

Address: 27 Alderton Way, Loughton Essex IG10 3EQ

Date: 26[th] March 2023