2024-12-31-accounts

AGE CONCERN GX PLUS CIO

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31[ST] DECEMBER 2024

Charity Registration Number 1202662

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AGE CONCERN GX PLUS CIO

CONTENTS

	PAGE
KEY INFORMATION	3
REPORT OF THE TRUSTEES	4
REPORT OF THE INDEPENDENT EXAMINER	7
ACCOUNTS	8

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AGE CONCERN GX PLUS CIO

KEY INFORMATION

CHARITY NUMBER TRUSTEES: ADDRESS PHONE EMAIL WEBSITE INDEPENDENT EXAMINER BANKERS INVESTMENT MANAGERS

1202662 Christine Burgess Chair Jeffrey Coteman Treasurer Sara Sabine Secretary Karen Dickson Donna Rooks Resigned 05/08/2024 Barbara Helen O’Farrell Appointed 12/08/2024 Murray Bruce Stewart Appointed 30/05/2024 59 Sycamore Road Chalfont St Giles Buckinghamshire, HP8 4LG 01494 870611 [e-mail] www.ageconcern-gxplus.co.uk Russell Barnes-Heath 25 Cranefield Drive Watford, Herts. WD25 9TX Lloyds Bank Plc Flagstone Group Ltd Penn Road, Hazlemere 1stFloor, Clairville House High Wycombe, HP15 7LN 26-27 Oxenden Street London SW1Y 4EL St James Place Wealth Management Administration Centre PO Box 9034, Chelmsford, CM99 2XA

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AGE CONCERN GX PLUS CIO REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

The Trustees are pleased to present their report and accounts for the year ended 31[st] December 2024.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's constitution, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

The objects of the charity is to promote the welfare of local older people and ease social isolation of that group. The area covered is Gerrards Cross and the Chalfonts, although not exclusively.

The information centre in Chalfont St Peter provides help, advice and assistance on a whole range of issues affecting elderly people, Blue Badge, Attendance Allowance, Pension Credit and many other issues of concern for elderly people.

The Trustees arrange activities such as Talks, Games, Coffee mornings, lunches, dementia group, and subsidise Chiropody and Earwax removal.

These accounts reflect the activity of Age Concern GX Plus CIO up to 31[st] December 2024.

On the 30[th] June 2023 the Trustees agreed a 6-year lease on premises at 8 Market Place, Chalfont St Peter, with an annual rental of £15k, with a 2 year break clause dated 30[th] June 2025. The purpose was to increase the profile of the charity in the local community offering help and advice to older people.

Investment powers and policy

The Trustees have the power to invest monies not immediately required as they think fit. The funds have been invested with a view to increasing their value but without excessive risk. The aim is to ensure the long-term financial future of the charity.

Funds for longer term investment are with St James Wealth Place Management and the value of this investment is regularly monitored. The Trustees continue to retain other funds on deposit with Flagstone Group Ltd with interest bearing deposit accounts with various banks, protected within the £85,000 Financial Services Compensation Scheme.

Public benefit statement

In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission’s guidance on public benefit, including the guidance ‘public benefit: running a charity (PD2)’. The achievements and activities above demonstrate the public benefit arising through the charity’s activities.

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AGE CONCERN GX PLUS CIO REPORT OF THE TRUSTEES (CON’T) FOR THE YEAR ENDED 31 DECEMBER 2024

Financial review

The financial results for the year are set out in the Statements of Financial Activities. The charity recorded a net deficit of £40,162 ( 2023 £43,085) for the period. The financial position at the period end revealed by the Balance Sheet shows net current assets or working capital of £786,436 (2023 £791,127).

Reserves Policy & Funds

The Trustees consider it prudent to always retain £70,000 free reserves which represents approximately 1 year's running costs. In addition, a reserve covering the lease to the ‘Break Date’ 30th June 2025, amounting to £7,500, a total reserve of £77,500.

There are no future committed funds, and this leaves some £700k of unallocated free reserves to be spent on appropriate and approved projects in the future.

There are no restricted funds at present and so all funds held are unrestricted.

Structure, governance and management

Governing document

The organisation is a Charitable Incorporated Organisation (CIO), established in 2023 and registered as a charity with the Charity Commission on 6 April 2023 under registration number 1202662. The organisation is governed by a constitution which sets out the objects and powers of the charity and governs the actions of the trustees.

Recruitment and appointment of Trustees

The management of the charity is the responsibility of the trustees who are elected under the terms of the constitution.

Organisation Structure

The activities of the charity are governed by the trustees who meet four times a year with other meetings arranged as necessary. Day to day management is delegated to individual trustees who report at each trustee meeting. We have approximately 45 volunteers and the trustees are very grateful for their support.

Trustee induction and training

The trustees maintain a good working knowledge of charity governance and best practice by regular reading of charity press articles and guidance produced by the Charity Commission and other Government and voluntary organisation advisory websites. New trustees are given copies of previous minutes and attend an induction session given by an experienced trustee.

Risk Management

The Trustees have assessed the major risks to which the Charity is exposed and are satisfied that systems are in place to mitigate exposure to them.

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AGE CONCERN GX PLUS CIO REPORT OF THE TRUSTEES (CON’T) FOR THE YEAR ENDED 31 DECEMBER 2024

We will continue with our long standing and successful activities including chiropody, an Ear Wax removal clinic, chair Yoga and exercise classes; these are run by qualified and insured personnel. We also offered subsidised lunches in local pubs.

Statement of Trustees’ responsibilities

The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.

In preparing these accounts, the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the charity's constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the charity and the financial information included on the charity’s website in accordance with legislation in the United Kingdom governing the preparation and dissemination of accounts.

The Trustees’ report was approved and signed on its behalf by:

Christine Burgess Chair of the Trustees

Date: 24[th] April 2025

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AGE CONCERN GX PLUS CIO

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF AGE CONCERN GX PLUS CIO

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2024.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act. In carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Russell Barnes-Heath 25 Cranefield Drive Watford, Herts. WD25 9TX

Date: 24[th] April 2025

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AGE CONCERN GX PLUS CIO

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME & EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2024

Note Income Donations 2 Charitable Activities 3 Interest Total Income Expenditure Charitable Expenditure 4 Total expenditure Surplus/(Deficit) for the period Net gains/(losses) on investments 6 Net movement in funds Reserves brought forward 12 Total funds, carried forward	2024 2023 6,351 2,390 22,758 17,117 19,241 4,300 _ 48,350 23,807 88,512 66,892 _ 88,512 66,892 _ (40,162) (43,085) 35,471 35,759 (4,691) (7,326) 791,127 798,453 __ 786,436 791,127

The statement of financial activities includes all gains and losses recognised in the period.

All income and expenditure derive from continuing activities.

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AGE CONCERN GX PLUS CIO

BALANCE SHEET AT 31[ST] DECEMBER 2024

Note Investments St James Place Wealth Management 6 Flagstone Group Ltd 6 Current assets Cash at bank and in hand Debtors and prepayments 7 Current Liabilities Creditors 8 Net asset Reserves brought forward Net movement in funds 12 Balance at 31st December 2024	2024 2023 363,284 627,813 400,455 146,943 10,071 6,326 13,579 18,245 (953) (8,200) __ 786,436 791,127 791,127 798,453 (4,691) (7,326) ___ 786,436 791,127

The accounts were approved by the Trustees on: 24[th] April 2025

Christine Burgess Jeffrey Coteman Chair of Trustees Trustee

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AGE CONCERN GX PLUS CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Note 1 - Accounting Policies

Accounting convention

The accounts have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The accounts have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these accounts are rounded to the nearest £.

The accounts have been prepared on a going concern basis under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

Income Recognition

All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably, and it is probable that the income will be received.

Expenditure Recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured reliably.

Fixed Assets Investments

Investments comprise assets held to generate future income. All investment assets are shown on the balance sheet at market value at the balance sheet date. The market value has been determined by the Investment Manager. Unrealised gains or losses arising on the revaluation of investment assets are included in the Statement of Financial Activities.

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AGE CONCERN GX PLUS CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Funds

Unrestricted Funds

These represent the remaining income funds of the charity that are available for spending on the general purposes of the charity.

Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount repaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and in hand includes cash and short-term cash deposits.

Creditors and provisions

Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Judgement and key sources of estimation uncertainty

In the application of the Charity’s accounting policies, the Charity is required to make judgments, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Note 2 – Donations

During the period the charity benefitted from donations totalling £6,351.

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AGE CONCERN GX PLUS CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Note 3 Income from charitable activities Contribution from Chiropody Note 4 Expenditure on charitable activities Venue costs Chiropody Lunches/Meals Other Events Support costs (note 5) Note 5 Support costs Payroll Costs Premises Rent & Rates Utility costs Insurance Legal & Professional Administration and miscellaneous costs Finance charges Governance costs: Examiner’s remuneration	2024 2023 £ £ 22,758 17,117
	22,758 17,117
	2024 2023 £ £ 8,650 6,675 26,363 19,213 1,846 1,264 578 3,227 51,075 36,513
	88,512 66,892
	2024 2023 £ £ 24,739 11,034 16,038 8,095 1,857 967 1,723 554 - 5,718 5,700 7,123 1,018 322 - 2,700
	51,075 36,513

All support costs are allocated to expenditure on charitable activities as the vast majority of time and effort of the charity is focussed here.

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AGE CONCERN GX PLUS CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIO ENDED 31 DECEMBER 2024

Note 6 - Investments

ote 6 - Investments
	St James
	Place Wealth
	Management	Flagstones	Total
	£	£	£
Cost or valuation
	-	-	-
At 1stJanuary 2024	627,813	146,943	774,756
Transfers	(300,000)	230.558	(69,442)
Valuation changes	35,471	22,954	58,425
Finance costs	-	-	-
	───────	───────	───────
Carrying amount
At 31stDecember 2024	363,284	400,455	763,739
	═══════	═══════	═══════

Funds invested with St James Place Wealth Management are shown in the Balance Sheet at the encashment value at 31[st] December 2024.

All of the above investments are allocated as follows:

ll of the above investments are allocated as follows:
	£
UK Equities	19,617
Overseas Equities	294,987
Cash held within the investment portfolio	48,680
	───────
Total	363,284
	═══════

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AGE CONCERN GX PLUS CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Note 7 - Debtors and Prepayments

Note 7 - Debtors and Prepayments
	2024 2023
	£ £
Rent Deposit/Prepayment	7,625 7,625
Insurance Prepayment	1,751 1,592
Accrued Interest	2,548 6,267
Sundry Debtors	1,655 2,761
Total Debtors	13,579 18,245
	══════════════
Note 8 – Creditors
	2024 2023
	£ £
Independent Examiner’s Fees	- 2,700
Other Creditors	953 5,500
Total Creditors	953 8,200
	══════════════

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AGE CONCERN GX PLUS CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Note 9 - Trustees

None of the trustees received any remuneration during the period. One trustee received reimbursement of expenses of £300 during the period.

Note 10 - Employees

Two staff were employed during the period.

Note 11 - Related Party Transactions

Related party transactions during the period amounted to £2001

Note 12 - Movement in Funds

	At	Net	Transfer	At
	01.01.24	Movement	Between	31.12.24
		In funds	Funds
	£	£	£	£
Unrestricted funds	791,127	(4,691)	-	786,436
TOTAL FUNDS	791,127	(4,691)	-	786,436

_ _ _

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