2023-03-31-accounts - Age UK Bolton

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FINANCIAL S	TATEMENTS
Independent	examiner's	report
Consolidated	Statement	of Financial Activities	10
Consolidated	and Charity	Balance Sheets
Consohdated	Statement	ofCash Flows	12
Notes to the	Financial Statements		13

					Unrestricted	Restricted	Total	Total
					Funds	Furl dc	Fuilds	Funds
				Notes	2023	2023	2023	2022
INCOME					E	E	E	E
Income from donations	and legacies				14,645		14,645	11,204
Other trading income
Home Services					155,911		155,911	97,694
Home Instead					274		274	914
Investment income					66,833		66,833	60,258
Income from charitable	acriviries
Bolton Council- Befriending/support				sevices to older adults	50,995		50,995	49,995
Bolton NHS - CCG -	Falls Prevention			Service	163,586		163,586	72,000
Bolton NHS - CCG -	Home from		Hospital		245,369		245,369	230,182
Bolton NHS - CCG -	Admissions		Avoidance		93,714		93,714
Ageing Well Centre					16,812		16,812	6,667
Otherincome					42,947		42,947	8,228
Other grants					130,346		130,346	171,213
Total income					981,432		981,432	708,355
EXPENDITURE
Expenditure on raising funds
Fundiaising trading cast		afgoods sold gi ocher costs
Home services					146,537		146,537	103,035
Ex pen di tare on chari raale activities
Preventative services					108,082		108,082	101,415
Falls prevention service					163,585		163,585	72,000
Home from hospital		service			244,620		244,620	230,182
Admissions Avoidance					93,714		93,714
Other services					181,973		181,973	201,552
Ageing Well Centre					106,071	8,296	114,367	86,410
Governance costs					6,750		6,750	5,725
Total expenditure					1,051,332	8,296	1,059,628	800,319
Net income (expendiruref		and ner movementin
funds before exceptional		costs, gains and losses on
investments and acruarial		gains and losses on
pension scheme					(69,900)	(8,296)	(78,196)	(91,964)
Net gains and losses on investments					(228,759)		(228,759)	62,777
Actuarial gain (loss) on defined benefit pension
scheme				14	(5,000)		(5,000)	(3,000)
Net movement in funds					(303,659)	(8,296)	(311,955)	(32,187)
Total funds brought forward					2,386,950	239,023	2,625,973	2,658,160
Total funds carried forward				12	2,083,291	230,727	2,314,018	2,625,973

								Group		Charity
							Notes	2023	2022	2023	2022
								E	E	E	E
Fixed assets
Tangible assets								230,727	239,023	230,727	239,023
Investments								2,356,682	2,455,815	2,356,684	2,455,817
								2,587,409	2,694,838	2,587,411	2,694,840
Current assets
Debtors							10	51,263	33,320	60,567	46,041
Cash at bank and in	hand							196,428	87,936	174,083	64,537
Short term deposits								43,772	125,578	43,772	125,578
								291,463	246,834	278,422	236,156
Creditors: amounts	falling		due
within one year								(564,854)	(315,699)	(551,815)	(305,023)
Net current liabilities								(273,391)	(68,865)	(273,393)	(68,867)
Net assets excluding		pension		liability				2,314,018	2,625,973	2,314,018	2,625,973
Pension liability							14
Net assets including		pension		liability				2,314,018	2,625,973	2,314,018	2,625,973
Represented by:
Restricted income funds							12	230,727	239,023	230,727	239,023
Unrestricted income		funds
Funds retained	within		non-
charitable subsidiary							12
General funds							12	1,948,919	2,286,950	1,948,919	2,286,950
Designated funds							12	134,372	100,000	134,372	100,000
Unrestricted funds excluding					pension	gobiriry		2,083,291	2,386,950	2,083,291	2,386,950
Total funds excluding		pension		reserve				2,314,018	2,625,973	2,314,018	2,625,973
Pension reserve							12
Total Charity funds							12	2,314,018	2,625,973	2,314,018	2,625,973

					2023	2022
					8	5
Net cash flow from operating		activities			156,312	17,527
					156,312	17,527
Cash flow from investing activities
Purchase ofinvestments					(2,631,167)	(522,267)
Disposals ofinvestments					2,501,541	595,342
Net cash flow from investing	activities				(129,626)	73,075
Change in cash and cash equivalents			in the year		26,686	90,602
Cash and cash equivalents brought			forward		213,514	122,912
Cash and cash equivalents carried forward					240,200	213,514
Cash and cash equivalents consists			of:
Cash at bank and in hand					196,428	87,936
Short term deposits					43,772	125,578
					240,200	213,514
Net cash flow from operating		activities
Net movement in funds before		exceptional costs,
gains and losses on investments		and	actuarial	gains
and losses on pension scheme					(78,196)	(91,964)
Depreciation					8,296	8,296
Pension scheme adjustment					(5,000)	(5,000)
Decrease/(increase) in debtors					(17,943)	(8,610)
(Decrease)/increase in creditors					249,155	114,805
					156,312	17,527

Summary	profit and loss account	profit and loss account		2023	2022
				E	E
Turnover				156,185	98,608
Otherincome				1,016	5,177
Administrative expenses				(147,289)	(103,785)
Donation	to parent	company		(9,912)
Retained	profit for	the year
The assets and liabilities ofthe subsidiary			were;	2023	2022
				E	E
Debtors				20,353	13,987
Cash at bank				22,345	23,399
Creditors:	amounts	falling due withm one	year	(42,696)	(37,384)
Net assets

2	Investment	income	income			2023	2022
						E	E
	Dividends from		listed UK investments			66,833	60,258
	Bank interest	receivable
						66,833	60,258
3	Net movement		in funds	Group		Charity
				2023	2022	2023	2022
				E	E	E	E
	Net movement		in funds is stated after charging:
	Depreaation	of	tangible fixed assets	8,296	8,296	8,296	8,296
	Independent	examination		8,203	5,725	7,453	4,975

Expenditure
	NN0 0 N			OO I	0 C	I	0d	m 0	44 (h0	I mm	m	44 D I d					D I m	OO	4 IO	Ct 41
				D																OO
	mId0 0 Id			IO vl IO	0	4 Oj			d N I I	tD 0 d 4 I	m 0 44 44	I m I	m I d m N	0 Ol 44			I m	Ol 4 Oi	O Ih 44	44 IO Dl Cl
Governance costs		0									C I
											O
	Management & Administration	'4		I Cj	0 C	m OD			m	CtI 0	I	m m	m	m 40 D	Oh D Ct O
Ageing Well Centre		ol		C											Ct			0 D	D Oh «i	Ot m	0 D
															m
	Other services	ol		Ct C			C													IIh	II
				C																OO	Cj
	Admissions	0				m									4		Ct 410			4 I
	Avoidance														m					m Ih
Home fromhospital		0					CI mI								m C		CCC			0 Ot	OO
	service						m								h		C				C
Falls prevention		0		Ih										0							000
	sendjce			40 C											mm						I
	preventative	'u				Cj								CC			CIt Ct			44 C	1
	services																			40 Cl	0
Home Services (2018 Insurance products		0		Oh																I h D	Cm' C
	&services)
Basis ofallocation				I 0	I 0	4 0	O0	0	Cj	0	I 0	Il 0	Il 0	4' 0	4 CI		~ 0	I 0	I 0
																I
		0									C0					Ol
		41 4 O I 41 OU	41 O		C E 'tl 0 I4	4I 0	0 D 0 I I 41 «41 0		0 O E E 0 4	O E E0 o	E Ol Ol 4 4	0 I O	I CV	C 4 0	I 0 4 EI0	O C «I	0 C L IC	114 C 'D	L0 4 'a 0 0	m0 N 4 0	0

7	Analysis ofstaff costs							2023	2022
								E	E
	Salaries and wages							891,123	557,418
	Social security costs							57,242	37,132
	Pension costs - executive							30,111	24,627
	Pension costs - stakeholder							5,580	5,580
								984,056	624,758
	The average monthly	number ofemployees,		analysed	by function, were			No.	No.
	Chief executive							1	1
	Services							20	15
	Administration							6	6
	Home services							15	9
								42	31
8	Tangible fixed assets					Long leasehold
						land	&
	Group and Charity					buildings		Equipment	Total
							E	E	E
	Cost
	At 1Apnl 2022					406,501		66,299	472,800
	Additions
	Disposals
	At 31March 2023					406,501		66,299	472,800
	Depreciation
	At 1April 2022					167,478		66,299	233,777
	Charge forthe year					8,296			8,296
	Disposals
	At31March 2023					175,774		66,299	242,073
	Net book value
	At 31March 2023					230,727			230,727
	At 1April 2022					239,023			239,023
	The cost of long leasehold		land and buildings	mcludes	E4,000 in respect of land.
9	Fixed asset investments					Shares	in
						subsidiary		Listed
						undertakings		investments	Total
	Cost or market value						E		E
	At 31March 2023					2		2,356,682	2,356,684
	At 1April 2022					2		2,356,682	2,356,684

Fixed asset investments (continued) Investments at market value
	2023	2022
Group and Charity	E	E
At 1April 2022	2,455,815	2,466,113
Additions	2,631,167	522,267
Disposals	(2,501,541)	(595,342)
Change m market value	(228,759)	62,777
At 31March 2023	2,356,682	2,455,815

Equities		1,370,993	1,438,394
Bonds		536,555	728,605
Structured	products	49,556	49,950
Gold and other commodities		46,806	77,595
Real estate		96,314
Other investments		256,458	161,271
		2,356,682	2,455,815

Debtors			Group		Charity
			2023	2022	2023	2022
			E	E	E	E
Trade debtors			46,802	14,590	30,910	13,904
Other debtors		and prepayments	4,461	18,730		5,429
Amounts	owed	by group undertakings			29,657	26,708
			51,263	33,320	60567	46 041

Creditors;	Amounts	falling due within one year	Group		Charity
			2023	2022	2023	2022
			E	E	E	E
Trade creditors			46,322	78,795	34,033	78,795
Taxation	and sooal	security	15,997	10,882	15,997	10,882
Other creditors and		accruals	502,535	226,022	501,785	215,346
Amounts	owed to group undertakings
			564,854	315,699	551,815	305,023

Movement in funds - Group	Movement in funds - Group	and Charity	and Charity	Balance at				Balance at
				1April				31March
learning				2022	Income	Expenditure	Transfer	2023
Restricted funds:				E	E	E	E	E
and Activities Centre
Fixed assets				239,023		(8,296)		230,727
Total restricted funds				239,023		(8,296)		230,727
Unrestricted funds:
Other charitable funds				2,286,950	752,673	(1,056,332)	(34,372)	1,948,919
Designoted funds	- property	mainrenonce		100,000			(12,435)	87,565
Designoted funds	- restructuring						46,807	46,807
Total unrestricted	funds excluding		pension reserve	2,386,950	752,673	(1,056,332)		2,083,291
Pension reserve					(5,000)	5,000
Total funds				2,625,973	747,673	(1,059,628)		2,314,018

Analysis oftotal funds	General	Designated	Restricted	31March	31March
	Funds	Funds	Funds	2023	2022
	E	E	E	E	E
Tangible fixed assets			230,727	230,727	239,023
Investments	2,269,117	87,565		2,356,682	2,455,815
Net current assets (liabilities)	(273,391)			(273,391)	(68,865)
Pension reserve
	1,995,726	87,565	230,727	2,314,018	2,625,973

Pension schemes (continued)	Pension schemes (continued)
The pnnopal	assumptions used to calculate the habilities		under	FRS 102are set out below:	2023	2022
						Yo
RPI Inflation					3.25	3.60
CPI Inflation					2.45	2.80
Rate ofincrease in salaries					N/A	N/A
Pension increases
- RPI mflation	subject to a minimum	of39' pa and a maximum		of59( pa	3.70	3.60
- RPI inflation	subject to a maximum	of2.59' pa			2.10	2.50
Discount rate	for Scheme liabilities				4.85	2.80

The assumed life expectancies on	retirement	retirement	retirement	retirement	at age 65are:	2023	2022
						Years	Years
Life expectancy for male currently	aged		65			86.80	87.10
Life expectancy for female currently		aged		65		88.80	89.50
Life expectancy at 65for male currently			aged		45	88.10	88.10
Life expectancy at 65for female currently				aged 45		90.20	90.60
Age UK Retirement Benefits Scheme
Major categories ofscheme assets	as a		percentage oftotal assets			2023	2022
						Yo
Equities						9.10	16.70
Diversified Growth						4.80	12.60
Infrastructure						13.00	9.50
Matching assets / bonds						70.20	59.90
Cash						2.90	1.30

Movement in surplus in the year:	Scheme	assets	Pension	liabilities	Net surplus	(deficit)
	2023	2022	2023	2022	2023	2022
	E	E	E	E	6	E
At 1Apnl 2022	266,000	257,000	(249,000)	(259,000)	17,000	(2,000)
Contnbutions by employer	6,000	6,000			6,000	6,000
Interest on pension liabilities			(7,000)	(5,000)	(7,000)	(5,000)
Expected return on scheme assets	7,000	5,000			7,000	5,000
Benefits paid and expenses	(11,000)	(9,000)	10,000	8,000	(1,000)	(1,000)
Actuanal gains (losses)	(73,000)	7,000	63,000	7,000	(10,000)	14,000
At 31March 2023	195,000	266,000	(183,000)	(249,000)	12,000	17,000

Pension sche	mes (continued)	mes (continued)
The amounts	recognised in the Statement of Financial Activities are as follows:		2023	2022
			6	E
Contributions			(6,000)	(6,000)
Interest on pension scheme liabilities			7,000	5,000
Expected return on scheme assets			(7,000)	(5,000)
Benefits paid	and expenses		1,000	1,000
			(5,000)	(5,000)
The amounts	recognised in the Net Movement	in Funds are as follows:	2023	2022
			6	E
Asset gains (losses) arising dunng the year			(73,000)	7,000
Liabdity gains	(losses) ansmg during the year		63,000	7,000
Unrecognised	asset movement		5,000	(17,000)
			(5,000)	(3,000)