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2025-03-31-accounts

Bolton Annual Impact Report ageuK Let's chan e how we age 2024

Forward from our Chief Executive

2024–25 has been a year of progress, partnership and pride for Age UK Bolton, and my first with the organisation! Across our borough, we’ve supported thousands of older people to live well, stay connected and feel valued — often at the times they needed it most.

From helping someone return home safely after a hospital stay, to unlocking vital financial support, or simply offering a friendly voice when loneliness feels overwhelming — our work is rooted in compassion and community. These pages capture that impact in numbers and in stories, but behind every achievement is something much more powerful: the people who make it happen.

I could not be prouder of the Age UK Bolton team — our staff, volunteers and trustees — whose professionalism, care and dedication shine through every single day. They are the heartbeat of this organisation. Whether on hospital wards, in community centres, or out in neighbourhoods across Bolton, they embody what it means to serve with purpose and humanity.

This report is deliberately littered with partners, and we make no apology for that. Collaboration is at the heart of who we are and how we work. A key outcome — as evidenced throughout the case studies — is connection, and we can’t create that by working in isolation. Locally, regionally and nationally, Age UK Bolton prides itself on the partnerships it forges and the systems it helps to shape. Collaboration is key, and we thank every one of our partners for leaning into the opportunities, the work and the challenges alongside us.

The year has also been one of renewal and shared confidence. Together with our partners across health, local government, business and the voluntary sector, we are proving that Bolton’s strength lies in its collective spirit. We are building a borough where older people are not defined by age or circumstance, but supported to live with dignity, independence and hope.

As you read this report, I hope you will feel inspired by what we’ve achieved together — and reminded that our work depends on the continued kindness and collaboration of others. Whether you’ve given your time, your expertise or your support, you are part of this story too.

Thank you for standing with us, for believing in what we do, and for helping us make Bolton a place where everyone can age well.

Lauren McKechnie

Chief Executive, Age UK Bolton

Contents

Contents
Our Trustees and Finances 3
Communications and Engagement 4
Information and Advice 5
Home From Hospital 7
Strength and Balance 9
AgeingWell 11
Ageing in Place Pathfinder 12
Volunteering 14
Social Prescribing 15
LookingForward and Thank You 17

135 social prescribing referrals to Age UK Bolton

Facebook interactions 3,977

2

Annual Report 2024-25

Our Trustees

Our Board of Trustees provides the strategic leadership, guidance and governance that underpin everything we do. Each brings their own experience, insight and dedication to ensuring Age UK Bolton continues to serve older people with integrity, compassion and impact. Thank you to our trustees:

John Cooper – Chair Rupert Cecil – Honorary Treasurer Margaret Rothwell Darren Clare Dr. Arun Kallat Cllr. Andy Morgan Stephen Smart Emma Wood

Our 2024-25 Finances

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8.4%
2.1%
4.1%
Total
income
£1,475,175
83.5%
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Our total income for 2024-25 was £1,475,175. This came from the following:

Grants and similar income.............£1,044,522 Dividends.................................................£51,839 Donations and legacies........................£22,151 Ageing Well Centre................................£25,655 Other incomes......................................£105,220

In total, we spent £1,407,067 in 2024-25. This was spent across the following areas:

Funded services...................................£991,090 Ageing Well Centre..............................£167,324 Other services......................................£248,653

3

Annual Report 2024-25

Communications and Engagement Amplifying our Voice and Visibility

This year marked a turning point for Communications and Engagement at Age UK Bolton.

Internally, a new bi-weekly staff newsletter has become an essential touchpoint for our 50 employees working across two sites and multiple community locations. It keeps colleagues connected through organisational news, system updates and good-news stories, reinforcing our sense of shared purpose.

Under refreshed leadership, our internal and external communications were re-imagined to breathe new life into the Age UK Bolton brand and reaffirm our position as a dynamic, trusted, and highly regarded local charity within the national Age UK network.

Attention to detail also featured strongly: a new, unified email signature was introduced to strengthen consistency and professionalism across all external communications.

A major focus was revitalising our social media presence through consistent posting, creative video content, and a platform-specific approach. In the final two quarters alone, we gained almost 300 new followers across Facebook, Instagram and LinkedIn. Over a third of these came from LinkedIn, which has evolved into a key space for building local partnerships and sector visibility.

At the start of Q2, a new Public Relations and Media Plan was developed to strengthen our profile both locally and within the wider charity sector. In February, national coverage followed when Age UK Bolton was gifted 200 shares by local publishing company LetzCre8, featured by Civil Society magazine. This led to a further opportunity to contribute a thought leadership article on share gifting to Charity Finance magazine; a milestone moment for our growing sector voice.

One post showcasing our collaboration with Bolton Wanderers in the Community achieved 88 reactions, demonstrating the reach and resonance of partnership storytelling.

Through these combined efforts, Age UK Bolton’s communications have evolved from informationsharing to influence-building – increasing visibility, deepening partnerships, and strengthening our identity as a modern, forward-thinking charity rooted in the heart of Bolton.

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identity as a modern, forward-thinking charity rooted
interactions in the heart of Bolton.
on Facebook
3977
staff
12 newsletters
Annual Report 2024-25 4
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Information and Advice

£1,642,862.85 secured through benefits and entitlements

1203 new clients

4234 contacts made

Empowering Older People to live with Dignity and Security

Without your help, I wouldn’t have known where to turn. Walter, Information and Advice client

Home From Hospital A Bridge Back to Independence

For many of Bolton’s most vulnerable residents, leaving hospital can be daunting. Age UK Bolton’s Home from Hospital service provides a vital bridge between hospital discharge and life at home — helping people regain confidence, rebuild independence, and reduce the risk of readmission.

Over the past year, the service has supported 1,954 people through Discharge & Aftercare and 1,813 through Admissions Avoidance, achieving an outstanding 1.34% 30-day readmission rate — significantly below the Bolton average of 8.4%.

The complexity of cases continues to grow, with many clients experiencing challenges such as poor mental health, addiction, and cognitive decline. Yet through compassion, persistence, and teamwork, our coordinators have consistently risen to meet these needs.

30-day re-admission 1.34% rate (Bolton avg. 8.4%)

1954 clients supported throughDishcarge & Aftercare

clients supported through 1813 Admissions Avoidance

Maintaining a seven-day presence on hospital wards, the team deliver rapid, person-centred interventions — from comprehensive needs assessments to practical and emotional support that helps people safely settle back at home.

Small but meaningful improvements have strengthened our visibility this year: branded T-shirts and jackets now ensure staff are easily identifiable across hospital and community settings, making it simpler for patients and families to approach them for help.

Even under pressure, the team’s resilience has never faltered. In Quarter 4 alone, they supported 443 Discharge & Aftercare and 341 Admissions Avoidance clients — navigating ward closures and operational pressures without compromising care

.

Behind the numbers lies an unwavering commitment to humanity. Peer supervision sessions introduced this year have provided space for reflection, helping staff manage the emotional intensity of their work and prioritise their own wellbeing — because compassionate care starts with a supported team.

Through dedication, partnership, and empathy, the Home from Hospital team continue to ensure that every discharge isn’t just safe — it’s a genuine step towards recovery and independence.

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Annual Report 2024-25 7
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Strength and Balance Keeping Bolton Moving, Connected and Confident

2189

individuals attending sessions

instructor-led 1049 sessions delivered

12,982

total attendances at sessions

I really don’t know what I would do without Age UK Bolton’s classes. I know I would have deteriorated even further if I hadn’t attended these sessions. Pat, 65, Strength and Balance client

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Pat’s Story
Regaining Strength, Balance and Confidence
At 65, Pat had always lived an active life. But when she began experiencing balance
problems two years ago, her confidence started to fade. Although she hadn’t
fallen, the fear of falling took hold — limiting her independence and leaving her
feeling anxious and isolated.
Her GP referred her to the local Balance and Activity Clinic, but with a waiting list of
48 weeks, Pat needed support sooner. In November 2023, she turned to Age UK
Bolton’s Strength and Balance Service.
Pat began attending weekly sessions designed to improve strength, balance and
mobility. The classes didn’t just help physically — they offered companionship,
encouragement and a renewed sense of belonging. She later joined a Backward
Chaining class at Nuffield Health, learning practical techniques to safely get up
from the floor if she ever did fall.
When her NHS clinic appointment was cancelled in June 2024, Pat was relieved to
know she could continue progressing with Age UK Bolton. With each session, her
confidence grew. Today, she feels stronger, more independent and far better
prepared for the future.
Key outcomes included:
Improved physical strength and confidence
Reduced social isolation
Ongoing falls prevention training and support
Pat’s story shows how early intervention and community-based support can
prevent decline, reduce pressure on health services and, most importantly,
restore confidence and independence.
Annual Report 2024-25 10
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Ageing Well Connection, Creativity and Community

This year, Age UK Bolton’s Ageing Well service continued to bring people together across the borough — offering friendship, food, creativity and care at a time when many older adults face isolation, rising costs and health challenges.

Volunteer-led lunch groups saw their highest attendance since 2020 , a testament to their enduring value. Members at Hulton Lane described the groups perfectly: “good food, good value, and even better company.”

Our Befriending Service has continued to change lives in quiet but powerful ways. For some, a weekly visit is the highlight of their week — a chance to chat, share memories, and feel truly seen. When one volunteer, Billy, began visiting Ken twice a week, what started as a match soon became a genuine friendship. Another volunteer, Geraldine, still visits her befriendee even after his move into residential care — proof that these relationships last far beyond circumstance.

The Ageing Well Centre has flourished into a vibrant hub for learning, laughter and wellbeing. In Quarter 4 alone , we hosted 70 weekly activities — from Zumba Gold and Pat-a-Cake cookery to craft sessions, book clubs and lively tea dances. Special highlights included an intergenerational Friendship Café , showcasing a local artist’s handmade models and performances by local schoolchildren — moments that filled the Centre with warmth and joy.

A major milestone this year was securing £20,000 from the Omaze ‘No Home for Loneliness’ Fund , enabling recruitment of a third Ageing Well Coordinator . This role will expand our community offer and strengthen befriending matches, ensuring more older people have the companionship and connection they deserve.

Through friendship, creativity and shared experience, Age UK Bolton’s Ageing Well service continues to prove that growing older doesn’t mean growing isolated — it means growing together.

5084 hours of befriending 6965 hot meals served

attendances at 3600 activities in Little Lever

18 different activities deliverered Ageing in Place Pathfinder: Little Lever Belonging, Purpose and Community Pride

Village Voices Choir

Breaking Down Barriers Through Music and Friendship

In Little Lever, community spirit took centre stage at a community concert organised as part of the Ageing in Place Pathfinder.

The event brought together people of all ages and backgrounds for an afternoon filled with music, laughter, and connection. Age UK Bolton’s Village Voices Choir performed alongside Happy Signs CIC, creating a truly inclusive celebration that bridged generations and abilities.

Among the performers were members of Bolton Cares, a group of younger older adults, who took to the stage with confidence — performing to an audience of over 100. Their energy and enthusiasm inspired everyone in the room and created a powerful sense of shared pride and belonging.

Many participants came with their families — some with several generations attending together — reinforcing the concert’s central theme of togetherness. The event didn’t just entertain; it strengthened bonds across the community and reminded everyone of the joy that comes from connection and inclusion.

This concert is a shining example of how projects like AiPP create ripple effects of positivity — breaking down barriers, nurturing intergenerational relationships, and building stronger, more connected communities across Bolton.

Poem by Muriel,
95, about ‘You,
Me and a Cup of
Tea’; an AiPP
social club in
Little Lever		 It’s Club Day!
Sitting at home on my chair
I really didn’t care
About getting out and about
It didn’t make me want to shout
A different life I have, enclosed
Getting about in my night clothes
Friends always phone me
The problems I don’t see
This is usually me
I wake up in the morning
When I’ve finished yawning
I’m going to get out
So ‘Yes!’ I’m going to shout
I’m going to the club
I’ll be listening to the hub
I’ll hear all the stories
And hear what they have to tell,
It’s like someone has rung a bell
It’s really very good
I was asked to join the club
It’s like I know everyone
I look forward to the day
Hear what people say
As I walk through the door
They pull up a chair
So we can all share
The biscuits and tea
For us all to see
From the lovely people
Who have set us free
No more being alone
Sitting on my chair at home
So’ Thanks for today!’
I’m on my way.

Volunteering The Heart of Age UK Bolton

Volunteers remain at the heart of everything we do. This year, over 200 passionate individuals gave their time, skills and care to support older people across Bolton, from running lunch clubs and doing regular befriending visits, to helping at our offices and community activities.

Behind the scenes, improvements to recruitment and onboarding have strengthened the volunteer journey , ensuring that everyone joining Age UK Bolton feels welcomed, supported and valued from day one.

Some of our volunteers have given their time for decades! At the beginning of the year, we proudly celebrated Ann, who reached an incredible 25 years of voluntary service at the Wright Place lunch club in Harwood — a true example of the commitment and kindness that defines our organisation.

Volunteers were also recognised at our Annual General Meeting 2023/24 , where the Mayor and Mayoress of Bolton presented long service awards to those with 5, 10, and 25 years of dedication. It was a moment to reflect on the extraordinary people who make Age UK Bolton what it is — a community built on care, compassion and connection.

200 active volunteers

hours of volunteering 28,356

426

total referrals to Rumworth PCN for Social Prescribing

referrals made to Age UK Bolton services

135

Harold’s Story Rebuilding Confidence and Mobility

After years of declining mobility, Harold found himself increasingly housebound. Living alone, he relied on furniture and a walking stick to move around his home and hadn’t been able to leave the house independently for more than two years. A recent fall — which left him with a head injury, though thankfully not requiring hospitalisation — had shaken his confidence even further.

When his GP referred him to Age UK Bolton’s Social Prescribing Link Worker , Harold explained that he spent most of his time in the kitchen, where the smaller space made moving around easier. Previous home adaptations, including a handrail on the stairs and a shower seat, had helped, but he still struggled with mobility and independence.

Recognising the difference that coordinated support could make, the Link Worker referred Harold to the community therapy team for physiotherapy and occupational therapy input. They also encouraged him to consider using a rollator to help him regain confidence and get back out into the community.

Six weeks later, a follow-up call revealed real progress. The therapy team had provided Harold with a wheeled walker, and he was now receiving regular physiotherapy sessions. Most importantly, his outlook had completely changed.

“They have been absolutely brilliant, and I am now more determined about getting out. I feel so much more confident. Thank you.”

With a little encouragement and the right support, Harold has taken huge steps — both literally and emotionally — towards independence. His determination and renewed confidence are a powerful reminder of how early intervention can transform lives.

I am now more determined about getting out. I feel so much more confident.

Looking Forward and Thank You

As we look ahead to 2025–26, our focus remains clear: to build on strong foundations while continuing to evolve as a modern, values-led charity rooted in the heart of Bolton.

The year ahead will see the establishment of the Age UK Greater Manchester Collective — a powerful new platform that brings together local Age UKs across the city region. This collaborative network will amplify our collective voice of influence and advocacy for older people, ensuring that their experiences, challenges and aspirations are heard across Greater Manchester’s systems and decision-making spaces.

At the same time, we will continue to invest in our people and culture — ensuring that Age UK Bolton remains a progressive, values-driven and person-centred employer. By nurturing our workforce, we strengthen the quality, compassion and professionalism that define our services.

Sustainability will also be a key focus. We will work closely with existing and new partners to secure long-term funding, protect essential services and ensure the charity’s financial resilience for years to come.

None of this work would be possible without the unwavering commitment of our staff, volunteers, trustees, partners and supporters . Your compassion and belief in what we do continue to shape the lives of thousands of older people across Bolton — helping them feel valued, supported and connected.

Together, we are building a future where everyone, at every age, can live well and age well in Bolton.

Annual Report 2024-25

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17
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Thank you to our corporate partners this year. If you’re interested in working with us, please get in touch. Age UK Bolton The Square 53-55 Victoria Square Bolton BL1 1RZ

Website: ageuk.org.uk/bolton Email: enquiries@ageukbolton.org.uk Phone: 01204 382 411

Donate now Every donation helps us change how we age in Bolton.

Scan the QR code or visit www.ageuk.org.uk/bolton

Registered charity no. 223240

Age UK Bolton

Trustees' Report and Consolidated Financial Statements

For the year ended 31 March 2025

Charity Registration Number - 223240

Age UK Bolton

Trustees' Report and Financial Statements

For the year ended 31 March 2025

Contents Page
STRATEGIC REPORT
1.1 Objectives and activities 1
1.2 Performance and achievements 1
1.3 Financial review 2
GOVERNANCE
2.1 Reference and administrative details 4
2.2 Structure, governance and management 4
2.3 Public benefit 5
2.4 Statement of Trustees' Responsibilities 5
FINANCIAL STATEMENTS
Independent auditor's report 6
Consolidated Statement of Financial Activities 9
Consolidated and Charity Balance Sheets 10
Consolidated Statement of Cash Flows 11
Notes to the Financial Statements 12

Page 1

Age UK Bolton

For the year ended 31 March 2025

Report of the Trustees

The Trustees present their annual report and financial statements for the year ended 31 March 2025. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the Charity.

1 STRATEGIC REPORT

1.1 Objectives and activities

Object of the Charity

The object of the Charity is to promote the relief of older people in any manner which now is or hereafter may be deemed by law to be charitable in and around Bolton. In setting out our objectives the Trustees have given due regard and careful consideration to the Charity Commission’s general guidance on public benefit.

The relevant powers granted to it by the constitution to achieve this are:

Details of services and activities delivered during 2024-25 are set out in the Annual Report

Current and future objectives

1.2 Performance and achievements

The year 2024–25 has been one of progress, partnership and purpose for Age UK Bolton. Across the borough, we supported 13,796 older people to live well, stay connected and feel valued — often at the times they needed it most. Our work has spanned practical help, emotional support and system-wide collaboration, ensuring that ageing well is a reality, not an aspiration.

Expanding Reach and Access

Demand for our services continued to grow, driven by cost-of-living pressures and health system challenges. In response, we strengthened capacity and streamlined processes to eliminate waiting lists in our Information & Advice service, enabling timely support for over a thousand new clients. This service remained a vital lifeline, helping residents navigate complex systems and secure entitlements that restore dignity and independence.

Supporting Transitions and Independence

Our Home from Hospital team provided a critical bridge between discharge and recovery, maintaining a seven-day presence on hospital wards and delivering person-centred interventions that reduced readmission rates far below the local average. These efforts ensured that hundreds of vulnerable residents returned home safely, with confidence and care.

Page 2

Age UK Bolton

For the year ended 31 March 2025

Report of the Trustees

1.2 Performance and achievements (continued)

Promoting Health and Connection

Through our Strength & Balance programme, we delivered over a thousand instructor-led sessions, reaching more people than ever before. Innovative developments, such as the new Postural Stability Instructor programme and specialist classes for those with pulmonary conditions, reinforced our commitment to falls prevention and holistic wellbeing. Alongside physical health, our Ageing Well service continued to combat isolation through befriending, lunch clubs and creative activities — hosting record attendance and transforming our Ageing Well Centre into a vibrant hub of learning and laughter.

Community-Led Innovation

The Ageing in Place Pathfinder in Little Lever deepened its impact, with 18 resident-led initiatives fostering belonging and pride. From supper clubs to intergenerational concerts, these activities demonstrated the power of co-design and local voice in shaping inclusive communities.

Embedding Partnership and Influence

Collaboration remained central to our approach. We worked with health partners, local government, and the voluntary sector to deliver integrated support — from social prescribing initiatives that reconnected residents with purpose, to joint campaigns tackling pension credit uptake. Our refreshed communications strategy amplified this work, strengthening visibility and sector influence through creative storytelling and national media coverage.

Volunteers at the Heart

Over 200 volunteers contributed more than 28,000 hours of time, care and expertise. Their commitment — some spanning decades — continues to define our identity as a charity rooted in compassion and community.

Through these achievements, Age UK Bolton has demonstrated resilience, innovation and unwavering dedication to older people. Every success reflects a shared endeavour — staff, volunteers, partners and supporters working together to make Bolton a place where everyone can age well.

1.3 Financial review

Reserves policy

The Charity’s Trustees conduct an annual review of the level of unrestricted reserves, by considering risks associated with service development and delivery, the various income streams, expenditure plans and balance sheet items. This enables an estimate to be made of the level of reserves that are sufficient :

In making their judgement on the level of unrestricted reserves the Trustees take account of the following issues and risks :

In doing so the Trustees are supported by regular financial reports and forecasts and on the basis of information and advice provided by the Honorary Treasurer and Chief Executive.

Page 3

Age UK Bolton

For the year ended 31 March 2025

Report of the Trustees

1.3 Financial review (continued)

Investment policy

In order to obtain improved returns on capital the Charity has appointed Brown Shipley to manage and invest surplus cash funds on a low-risk and long term basis. In addition the Charity has two small long-term investments in ordinary shares issued by Lloyds Bank plc and Groupe Eurotunnel S.A in the name of the Honorary Treasurer as nominee for Age UK Bolton.

The Charity has not specified any particular ethical stance or companies to avoid and rely on the investment managers in this respect. They have confirmed that the portfolio is managed in line with their general view that companies that they invest in are socially responsible.

Grant making

The Charity is not currently involved in the awarding of grants or funded contracts.

Income and expenditure

The accounts reflect net surplus income of £68,108 (2024 - surplus expenditure of £49,235) before taking account of the revaluation of investments and actuarial adjustments to the defined benefit scheme. The increase in value of investments was £23,875 (2024 - £135,589) reflecting the impact of the restructure of the investment portfolio.

Income for the year was £1,475,175 compared with £1,205,110 in the previous year. Interest and dividends for the year were £51,839 compared with £53,607 in the previous year. Both the current trading environment and the current public sector funding climate remain challenging.

Overheads for the year were £1,407,067 compared with £1,254,345 in the previous year, an increase of 12.18%

Balance Sheet

As regards balance sheet strength, the Charity’s net assets at 31 March 2025 amounted to £2,487,355 compared with £2,395,372 at 31 March 2024 (the increase of £91,983 being the surplus income for the year of £68,108 and the increase in market value of our investment portfolio of £23,875. At the two year ends, the total assets comprised :

2025 2024
£ £
Tangible fixed assets and investments 2,336,954 2,571,754
Bank balances and short term deposits 273,576 326,405
Total net assets 2,487,355 2,395,372

Forecasts for Financial Year to 31st March 2025

At their meeting on 5 March 2025, the Trustees approved a deficit budget for 2025–26 of £389,074 . This forecast reflects a strategic recalibration of salary grades across the organisation, alongside increases in employer National Insurance contributions and general running costs. These adjustments were considered essential to maintain competitiveness, retain talent and ensure the continued delivery of high-quality, person-centred services.

While the approved budget anticipates a significant call on reserves, this remains consistent with the Charity’s Use of Reserves Policy and is underpinned by a clear plan to mitigate the deficit during the year. Based on our track record and forward planning, we expect to improve performance through a combination of:

New service development aligned to local needs and commissioning priorities

Diversification of income stream s, including grant funding, partnerships and social enterprise activity Careful cost management to ensure efficiency without compromising impact

The Trustees remain confident that these measures, coupled with strong governance and proactive financial oversight, will reduce the forecast deficit substantially by year-end. This approach reflects our commitment to sustainability while continuing to invest in the people, partnerships and services that enable older people in Bolton to live well and age well.

Page 4

Age UK Bolton

Report of the Trustees

For the year ended 31 March 2025

2 GOVERNANCE

2.1 Reference and administrative details

Registered charity number 223240 Principal office The Square 53 - 55 Victoria Square Bolton BL1 1RZ Honorary President His Worship the Mayor of Bolton Trustees John Cooper - Chairman Margaret Rothwell Andrew Morgan Dr Arun Kallat Becci Martin (appointed 11 April 2025) Co-opted Trustees Rupert Cecil - Honorary Treasurer (appointed 19 July 2024) Darren Clare (appointed 29 July 2024) Stephen Smart (appointed 15 July 2024) Chief Executive Lauren McKechnie Auditor Xeinadin Audit Limited 100 Barbirolli Square Manchester M2 3BD Bankers Lloyds Bank Bolton BL1 1DB Brown Shipley Private Banking 3 Hardman Street Manchester M3 3HF

2.2 Structure, governance and management

Governing document

Age UK Bolton is an unincorporated association governed by a constitution.

Appointment or renewal of Trustees

Age UK Bolton’s Board of Trustees (including the Chair) is normally elected on an annual basis at the Annual General Meeting. The Board also has the power to co-opt a limited number of members.

New Trustees are supported through an individual induction process including details on their responsibilities as Trustees and are encouraged to meet staff, volunteers and people who use our services.

Organisational structure and decision making

The Board of Trustees usually meets up to six times per year and is responsible for the governance of the organisation.

Decisions on the day to day operation of the Charity are taken by the Chief Executive and the senior management of the organisation. The Board receives regular reports from the Chief Executive on operational matters and from the Honorary Treasurer on financial performance.

Key decisions and matters with significant implications for the organisation are brought to the Board of Trustees for resolution. These include inter alia:

Age UK Bolton kage Report of the Trustee5 For the year ended 31 March 2025 2.2 Strurtur¢ gtrdernaK• rnani8eM￿ (ton￿￿￿ed) Rel•ted part¥ The net Profits of the comp4ny Age UK Bolton Enterprfse5 Limited are pald over to the Charity A8È UK Bolton under the Current United Kingdom gift ald leglslatson. 2.1 PubllcbEntfi¢ We have refeThed to the public bellefit guidance contained in thÈ CharltyCommts%on's ieneral ￿ldance on put4ic benefr¢ wth reviewin8 our objectives and planning our fvture actlvifies. The aim5 of A8e UK BoltoN are undertaken specffirally to ensure the Iharttable objects meet the publit ￿nefit requirementand theCharlti Act 2011. 2.4 St¢m¢nt dTNstee5' Respon51bllit1•5 The Trustees are re5ppnsible for preparing tho finantial statements in ￿cordanCe with applitable 18w and Unlted Kingdom Accounting Standards IUThted ￿n£doM fjenerally Accepted Practlcel. The law aNilitable to charitw in Er￿land & Wale5 requires the Trustees to prepare financial statements for each financial year which wve a true and lair vlew of the State of affalrs of the Charity and ol the In£ominE resourtes and applicztlgn of resour￿$ of the Chorlty for that period. lfi preparlng these fInar￿la1 statements, the TrusteÈs are required to". Selectsultsble acc¥untln8 pollcles aThl then 3pply them tonsistentty.. Observeihe methodsand prlnciples in the CharStles SOftP 2015 IFRS 1021: Moke lud8ernÈnts ènd Èstimate5 that are reasonable and prudenE.' State whether applicable accourrtingstandards have been followed; ènd Prepare the finanual rtotemerts on a golng concern bas1$ unless ￿ is InapproprSate to presume that the Charfty wlll continue in business. The Tru#ees are responslble for keepln8 proper accounfjw record5 that d15c105• With reasonable accuracy at any tlme the thnanrial posltlon of the Chailty and enable them to ensure that the financial ststements compty with Cha¥Stles Act 2Qll. the Charltles IAt¢ounts and Reports) Re8ul3tloA5 2Q08 and the provlsions of the trust deed. They are also re5Ponsibie for safÈguardin8 the assets of the Charty and hence for takin8 reascFnable Steps for ihe prevention and detert1￿ of fraud arnl other IrregulaAtie5. The systems of internal control are deslgned to provlde reasonable, but not ab￿￿te, èassurance ￿InSt material misstatement ol loss. Intemal control proce5se5 irnplemented by the Trustee5 IndudÉ.' &Ereement of polky and service development oblettlves byTrustees,' An annual budget approved bythe Tru5tEes.' Regular con5ideratiDll by the Trustees of firban¢ial results Includin8 variance from bud8ttsand forecasts.. Delegatlon of authorityto approprlate levels of rnanagement- and Idéntificatk)n and management of risk. On aw of the Trustees.. John Cooper Chairman Rupertcetll oTh)raryTreasurer 19 ND¥ember 2025

Page 6

Age UK Bolton

Independent Auditor's Report to the Members

For the year ended 31 March 2025

We have audited the financial statements of Age UK Bolton (the 'Parent Charitable Company’) and its subsidiary (the 'Group') for the year ended 31 March 2025 which comprise the Consolidated Statement of Financial Activities, Consolidated Balance Sheet, Charity Balance, Consolidated Statement of Cash Flows and notes to the financial statements, including a summary of 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Charitable Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charitable Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The Trustees are responsible for the other information. The other information comprises the information included in the Trustees' report other than the financial statements and our auditor’s report thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in 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 there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Page 7

Age UK Bolton

Independent Auditor's Report to the Members (continued)

For the year ended 31 March 2025

Responsibilities of Trustees

As explained more fully in the Statement of Trustees’ Responsibilities set out on page 6, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the Charitable Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Charitable Company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities 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 relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities including fraud and non-compliance with laws and regulations we have considered the following:

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas: income recognition. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory frameworks that the Charitable Company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included UK Companies Act, Charities Act, Health and Safety Laws and Environmental Regulations.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the Charitable Company's ability to operate or to avoid a material penalty.

Page 8

Age UK Bolton

Independent Auditor's Report to the Members (continued)

For the year ended 31 March 2025

Audit response to risks identified

Our procedures to respond to risks identified included the following:

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members including internal specialists, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the Charity’s Members, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the Charity’s Members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and the Charity’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Michael Garrett (Senior Statutory Auditor) For and on behalf of Xeinadin Audit Limited 100 Barbirolli Square Manchester M2 3BD

19 November 2025

Xeinadin Audit Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

Page 9

Age UK Bolton

Consolidated Statement of Financial Activities

For the year ended 31 March 2025

Notes
INCOME
Income from donations and legacies
Other trading income
-
Home Services
1
-
Home Instead
1
Investment income
2
Income from charitable activities
-
Bolton Council - Befriending/support services to older adults
-
Bolton NHS - CCG - Falls Prevention Service
-
Bolton NHS - CCG - Home from Hospital
-
Bolton NHS - CCG - Admissions Avoidance
-
Ageing Well Centre
-
Other income
-
Other grants
Total income
EXPENDITURE
Expenditure on raising funds
Fundraising trading: cost of goods sold & other costs
-
Home services
6
Expenditure on charitable activities
-
Preventative services
6
-
Falls prevention service
6
-
Home from hospital service
6
-
Admissions Avoidance
6
-
Other services
6
-
Ageing Well Centre
6
-
Governance costs
6
Total expenditure
Net gains and losses on investments
9
Net movement in funds
Total funds brought forward
Total funds carried forward
12
Net income (expenditure) and net movement in
funds before exceptional costs, gains and losses on
investments and actuarial gains and losses on
pension scheme		 Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
2025
2025
2025
2024
£
£
£
£
22,151
-
22,151
25,602
218,790
-
218,790
186,111
6,998
6,998
2,558
51,839
-
51,839
53,607
53,055
-
53,055
52,016
111,348
-
111,348
144,844
270,038
-
270,038
269,614
155,830
-
155,830
53,453
25,655
-
25,655
21,774
105,220
-
105,220
5,452
454,251
-
454,251
390,079
1,475,175
-
1,475,175
1,205,110
194,390
194,390
182,572
143,152
-
143,152
119,701
203,217
-
203,217
217,667
317,500
-
317,500
288,513
120,828
-
120,828
104,680
249,161
-
249,161
202,477
159,389
8,130
167,519
125,585
11,300
-
11,300
13,150
1,398,937
8,130
1,407,067
1,254,345
76,238
(8,130)
68,108
(49,235)
23,875
-
23,875
135,589
100,113
(8,130)
91,983
86,354
2,163,788
231,584
2,395,372
2,314,018
2,263,901
223,454
2,487,355
2,400,372

·, g 10

Age UK Bolton

Consolidated and Charity Balance Sheets

As at 31 March 2025

Notes
Fixed assets
Tangible assets
8
9
10
11
12
Investments
Current assets
Debtors
Cash at bank and in hand
Short term deposits
Creditors: amounts falling due
within one year
Net current assets(liabilities)
Net assets
Represented by:
Restricted income funds
Unrestricted income funds
-
Funds retained within non-
charitable subsidiary
12
-
General funds
12
Designated funds
12
Unrestricted funds excluding pension liabilit
Total Charity funds		 Group
Charity
2025
2024
2025
£
£
£
214,467
222,597
214,467
2,122,487
2,349,157
2,122,489
2,336,954
2,571,754
2,336,956
357,739
123,723
40,120
255,880
268,226
207,680
17,696
58,179
17,696
2024
£
222,S97
2,349,159
2,571,756
206,079
184,014
58,179
631,315
450,128
629,496
(480,914)
(626,510)
(479,097)
150,401
(176,382)
150,399
448,272
(624,656)
(176,384)
2,487,355
2,395,372
2,487,355
223,454
231,584
223,454
2,129,529
2,029,416
2,129,529
134,372
134,372
134,372
2,263,901
2,163,788
2,263,901
2,487,355
2,395,372
2,487,355
2,395,372
231,584
2,029,416
134,372
2,163,788
2,395,372

Total Charity funds

The ancial statements on pages 10 to 21 were approved by the Board of Trustees and signed on its behalf by:

John Cooper Chairman

�/ Rupert Cecil Honorary Treasurer

19 November 2025

Page 11

Age UK Bolton

Consolidated Statement of Cash Flows

For the year ended 31 March 2025

Net cash flow from operating activities
Cash flow from investing activities
Purchase of investments
Disposals of investments
Net cash flow from investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents brought forward
Cash and cash equivalents carried forward
Cash and cash equivalents consists of:
Cash at bank and in hand
Short term deposits
Net cash flow from operating activities
Depreciation
Pension scheme adjustment
Increase in debtors
(Decrease) increase in creditors
Net movement in funds before exceptional costs,
gains and losses on investments and actuarial gains
and losses on pension scheme		 2025
2024
£
£
(303,374)
(56,909)
(1,399,691)
(1,421,588)
1,650,236
1,564,702
250,545
143,114
(52,829)
86,205
326,405
240,200
273,576
326,405
255,880
268,226
17,696
58,179
273,576
326,405
68,108
(49,235)
8,130
8,130
-
(5,000)
(234,016)
(72,460)
(145,596)
61,656
(303,374)
(56,909)

Page 12

Age UK Bolton

Notes to the Financial Statements

For the year ended 31 March 2025

General information

Age UK Bolton is a registered Charity (Charity number 223240) and is an unincorporated association governed by its constitution.

The Charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.

Accounting policies

Basis of preparation of financial statements

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional and presentational currency of the Charity.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Consolidation

These financial statements consolidate the results of the Charity and its wholly-owned subsidiary, Age UK Bolton Enterprises Limited which is owned by the Charity by way of the Trustees as nominees. All intra-group transactions are eliminated on consolidation. A separate Statement of Financial Activities, or income and expenditure account, for the Charity itself is not presented because the Charity has taken advantage of the available exemptions.

Income

All income is directly apportioned to the relevant category of income as disclosed on the face of the Statement of Financial Activities.

Grants

Grants, including grants for the purchase of fixed assets, are recognised in full in the Statement of Financial Activities in the year in which they are receivable, except for those grants which are for a specific future period, in which case the relevant amount is deferred to that period.

Investment income

Income from investments is included in the Statement of Financial activities in the year in which it is receivable.

Other income

Other income is recognised in full in the Statement of Financial Activities in the year in which it is receivable with the exception of fundraising events where income is recognised by reference to the event date.

Deferred income

Income is deferred on fundraising events where the actual event has not taken place as at the year end.

Legacies

Legacies are recognised upon receipt of amounts due.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.

Page 13

Age UK Bolton

Notes to the Financial Statements

For the year ended 31 March 2025

Expenditure (continued)

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangement entered into, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the Charity after deducting all of its financial liabilities.

Fixed asset investments

Investments are stated at market value, as at the balance sheet date. The Statement of Financial Activities includes the net gains or losses arising on revaluation and disposals throughout the year.

The investments are held as a reserve fund and are not available for funding general overheads.

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and opening market value or cost in the year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.

Tangible fixed assets and depreciation

Expenditure on fixed assets has been capitalised and included at cost on the Balance Sheet as Tangible Fixed Assets. Any related grants are shown as restricted fixed asset funds which fund future depreciation of the assets.

Fixed assets are depreciated so as to write off cost or valuation, less anticipated residual value, over their anticipated useful lives, on a straight line basis, as follows:

lives, on a straight line basis, as follows:
Long leasehold property 2%
Equipment 25 to 33.33%

Fund accounting

Unrestricted funds comprise accumulated surpluses and deficits that are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donors or which have been raised by the Charity for particular purposes. The aim and use of each restricted fund is set out in the notes to the financial statements. The fixed asset fund balance represents future depreciation of assets originally purchased using restricted funds and which the donor specified must be retained.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

Taxation

Age UK Bolton is a registered Charity and has no liabilities to taxation. It is able to recover taxation on Gift Aid and Investment Income. The whole of the taxable profits of the subsidiary, Age UK Bolton Enterprises Limited are donated to the Charity.

Pension costs

The Charity contributes to the Age UK Retirement Benefits Scheme, which is a defined benefits scheme, at rates set by the Scheme Actuary and advised to the Board by the Scheme Administrator. The Scheme is a multi employer pension scheme.

Page 14

Age UK Bolton

Notes to the Financial Statements

For the year ended 31 March 2025

Pension costs (continued)

In respect of the Scheme, assets are measured using market values and liabilities are measured using the projected unit actuarial method and are discounted at the current rate of return on a high quality corporate bond of equivalent term and currency to the liability. Any increase in the present value of the liabilities expected to arise from employee service in the year is charged against net income. The expected return on assets and the increase during the year in the present value of liabilities arising from the passage of time are included within net income. Actuarial gains and losses are recognised within the net movement of funds. The Scheme's net deficit is recognised on the balance sheet.

The Charity also offers a stakeholder pension arrangement to staff. The pension cost charge represents contributions payable by the Charity in respect of the year.

Liquid resources

Liquid resources represent funds held on deposit with recognised banks and building societies.

Going concern

The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the Charity to be able to continue as a going concern.

Page 15

Age UK Bolton

Notes to the Financial Statements

For the year ended 31 March 2025

1 Commercial trading operations

The wholly-owned trading subsidiary, Age UK Bolton Enterprises Limited, provided tailor-made insurance products to meet the needs of people in later life. This service ceased in March 2018. The provision of Home Services commenced in March 2019. A summary of the trading results is shown below:

Summary profit and loss account

Summary profit and loss account
Turnover
Other income
Administrative expenses
Donation to parent company
Retained profit for the year
The assets and liabilities of the subsidiary were:
Debtors
Cash at bank
Creditors: amounts falling due within one year
Net assets		 2025
2024
£
£
225,788
188,668
5,509
1,000
(204,925)
(182,795)
(26,372)
(6,873)
-
-
2025
2024
£
£
28,929
18,622
48,200
84,212
(77,128)
(102,832)
2
2

2 Investment income
Investment income
Dividends from listed UK investments
Bank interest receivable		 2025
2024
£
£
51,839
53,607
-
-
51,839
53,607
3 Net movement in funds Group Charity
2025 2024 2025 2024
£ £ £ £
Net movement in funds is stated after charging:
Depreciation of tangible fixed assets 8,130 8,130 8,130 8,130
Auditor's remuneration 11,300 11,300 9,900 9,900

4 Taxation

The Charity is exempt from tax on its charitable activities.

5 Trustees remuneration

No Trustee received any remuneration from the Charity during the year.

No out of pocket expenses were reimbursed to any Trustee in either the current year or the previous period.

Age UK Bolton

Page 16

Notes to the financial statements

For the year ended 31 March 2025

6

Expenditure

diture
2024
Total		 £ 1,012,146 (5,000) 4,636 66,599 50 - 9,384 26,255 7,119 21,030 59,434 - 37,501 7,061 8,130 1,254,345
2025
Total		 £ 1,081,148 - 4,399 76,910 293 - 49,496 64,280 376 21,028 53,199 - 41,897 5,911 8,130 1,407,067 -
Governance costs £ 11,300 11,300 13,150
Management &
Administration		 £ 254,050 - 867 7,098 293 49,496 52,980 376 21,028 53,199 (439,387) - -
Ageing Well Centre £ 63,910 1,535 - - 46,136 41,897 5,911 8,130 167,519 125,585
Other services £ 128,090 - 240 - 120,831 249,161 202,477
Admissions
Avoidance		 £ 67,325 239 537 - 52,727 120,828 104,680
Home from hospital
service		 £ 213,518 - 27,089 - 76,893 317,500 288,513
Falls prevention
service		 £ 137,457 525 12,509 - 52,726 203,217 217,667
Preventative
services		 £ 50,730 1,233 1,115 - 90,074 143,152 119,701
Home Services (2018
Insurance products
& services)		 £ 166,068 - 28,322 - 194,390 182,572
Basis of allocation Direct Direct Direct Direct Direct Direct Direct Direct Direct Direct Direct Direct Direct Direct Direct
Costs directly allocated to activities Staff salaries FRS 102 adjustment Volunteers Other staff costs Advertising and publicity Accommodation Communications Audit and accountancy Professional fees Investment Portfolio Fees Other expenses Management charge Learning and activities centre - Running - Trading - Depreciation TOTAL - 2025 TOTAL - 2024

Page 17

Age UK Bolton

Notes to the Financial Statements

For the year ended 31 March 2025

7 Analysis of staff costs 2025 2024
£ £
Salaries and wages 1,020,039 969,606
Social security costs 73,040 68,798
Pension costs - executive 59,398 35,304
Pension costs - stakeholder 5,580 5,038
1,158,057 1,078,746
The average monthly number of employees, analysed by function, were: No. No.
Chief executive 1 1
Services 21 22
Administration 4 7
Home services 21 16
47 46
8 Tangible fixed assets Long leasehold
land &
Group and Charity buildings Equipment Total
£ £ £
Cost
At 1 April 2024 406,501 66,299 472,800
Additions - - -
Disposals - - -
At 31 March 2025 406,501 66,299 472,800
Depreciation
At 1 April 2024 183,904 66,299 250,203
Charge for the year 8,130 - 8,130
Disposals - - -
At 31 March 2025 192,034 66,299 258,333
Net book value
At 31 March 2025 214,467 - 214,467
At 1 April 2024 222,597 - 222,597

The cost of long leasehold land and buildings includes £4,000 in respect of land.

9
Fixed asset investments
Cost or market value
At 31 March 2025
At 1 April 2024		 Shares in
subsidiary
Listed
undertakings
investments
Total
£
£
£
2
2,122,487
2,122,489
2
2,356,882
2,356,884

Shares in subsidiary undertakings

The trading company, Age UK Bolton Enterprises Limited, is a wholly owned subsidiary of the Charity which owns 100% of the issued share capital of the company.

Age UK Enterprises Limited was established to support the Charity and any profits earned are donated to the Charity annually.

Page 18

Age UK Bolton

Notes to the Financial Statements

For the year ended 31 March 2025

Investments at market value

Investments at market value
Group and Charity
At 1 April 2024
Additions
Disposals
Change in market value
At 31 March 2025		 2025
2024
£
£
2,349,157
2,356,682
1,399,691
1,421,588
(1,650,236)
(1,564,702)
23,875
135,589
2,122,487
2,349,157

All investments are carried at their market value. Investment in equities and fixed interest securities are all traded in quoted public markets including the London Stock Exchange. Holdings in common investment funds, unit trusts and open ended investment companies are at bid price. Asset sales and purchases are recognised at the date of trade at cost (that is their transaction value).

Equities
Bonds
Structured products
Other investments		 1,005,842
1,080,956
507,141
572,408
449,243
427,895
160,261
267,898
2,122,487
2,349,157
Debtors
Trade debtors
Other debtors and prepayments
Amounts owed by group undertakings		 2025
2024
2025
2024
£
£
£
£
324,315
93,831
324,175
93,231
33,424
29,892
4,635
11,870
-
-
75,310
100,978
Charity
Group
357,739
123,723
404,120
206,079

10 Debtors

11
Creditors: Amounts falling due within one year
Trade creditors
Taxation and social security
Other creditors and accruals		 2025
2024
2025
2024
£
£
£
£
10,474
82,943
10,387
82,943
10,977
55,992
10,977
46,784
459,463
487,575
457,733
494,929
Group
Charity
480,914
626,510
479,097
624,656

Page 19

Age UK Bolton

Notes to the Financial Statements

For the year ended 31 March 2025

12
Movement in funds - Group and Charity
Restricted funds:
Learning and Activities Centre
Fixed assets
Total restricted funds
Unrestricted funds:
Other charitable funds
Designated funds - property maintenance
Designated funds - restructuring
Total unrestricted funds excluding pension reserve
Total funds		 Balance at
Balance at
1 April
31 March
2024
Income
Expenditure
Transfer
2025
£
£
£
£
£
231,584
-
(8,130)
-
223,454
231,584
-
(8,130)
-
223,454
2,029,416
1,499,050
(1,398,937)
-
2,129,529
87,565
-
-
-
87,565
46,807
-
-
-
46,807
2,163,788
1,499,050
(1,398,937)
-
2,263,901
2,395,372
1,499,050
(1,407,067)
-
2,487,355

Purposes of restricted funds

All of the above represent the principal sources of funding for the Learning and Activities Centre land and buildings. In the opinion of the Trustees, these funds have been applied entirely to the purposes for which they were received. Depreciation on the land and buildings acquired with these funds has been allocated to this fund in the current year and will continue to be in future years in accordance with the accounting policies of the Charity.

13
Analysis of total funds
Tangible fixed assets
Investments
Net current assets (liabilities)		 General
Designated
Restricted
31 March
31 March
Funds
Funds
Funds
2025
2024
£
£
£
£
£
-
-
214,467
214,467
222,597
1,988,115
134,372
-
2,122,487
2,349,157
141,414
-
8,987
150,401
(176,382)
2,129,529
134,372
223,454
2,487,355
2,395,372

14 Pension schemes

Age UK Retirement Benefits Scheme

The Charity participates in a multi employer defined benefits pension scheme, the Age UK Retirement Benefit Scheme (the "Scheme"). The Scheme is closed to new entrants and to future benefit accrual from 30 November 2008.

A full actuarial valuation of the Scheme was carried out as at 31 March 2022 and the results of this valuation have been updated to 31 March 2025 by a qualified independent actuary.

The results of the latest funding valuation at 31 March 2022 have been adjusted to the balance sheet date taking account of experience over the period since 31 March 2022, changes in market conditions and differences in the financial and demographic assumptions. The present value of the defined benefit obligation was measured using the Projected Unit Method.

Page 20

Age UK Bolton

Notes to the Financial Statements

For the year ended 31 March 2025

The principal assumptions used to calculate the liabilities under FRS 102 are set out below :

The principal assumptions used to calculate the liabilities under FRS 102 are set out below : 2025 2024
% %
RPI Inflation 3.10 3.20
CPI Inflation 2.30 2.40
Future increases in deferred pensions 2.30 2.40
Pension increases
- RPI inflation subject to a minimum of 3% pa and a maximum of 5% pa 3.65 3.70
- RPI inflation subject to a maximum of 2.5% pa 2.00 2.10
Discount rate for Scheme liabilities 5.80 4.90

Allowance has been made for all members to exchange 80% of the maximum cash allowance available upon retirement.

The mortality assumptions are: S3P base tables projected by year of birth assuming future improvements in line with CMI 2021 core projections with a long-term rate of improvement of 1.25% pa.

The assumed life expectancies on retirement at age 65 are:

The assumed life expectancies on retirement at age 65 are: 2025 2024
Years Years
Life expectancy for male currently aged 65 86.70 86.70
Life expectancy for female currently aged 65 88.70 88.60
Life expectancy at 65 for male currently aged 45 88.00 88.00
Life expectancy at 65 for female currently aged 45 90.10 90.10

Age UK Retirement Benefits Scheme

Major categories of scheme assets as a percentage of total assets

Major categories of scheme assets as a percentage of total assets 2025 2024
% %
Equities 9.70 14.50
Diversified Growth - 4.90
Infrastructure 14.50 13.40
Matching assets / bonds 69.90 63.70
Cash 5.90 3.50

None of the scheme's assets are invested in any property or other assets used by the employer.

Movement in surplus in the year:
At 1 April 2024
Contributions by employer
Interest on pension liabilities
Expected return on scheme assets
Benefits paid and expenses
Actuarial gains (losses)
At 31 March 2025		 2025
2024
2025
2024
2025
2024
£
£
£
£
£
£
195,000
195,000
(184,000)
(183,000)
11,000
12,000
6,000
6,000
6,000
6,000
(9,000)
(9,000)
(9,000)
(9,000)
9,000
9,000
9,000
9,000
(10,000)
(10,000)
9,000
9,000
(1,000)
(1,000)
(14,000)
(5,000)
23,000
(1,000)
9,000
(6,000)
Net surplus (deficit)
Scheme assets
Pension liabilities
186,000
195,000
(161,000)
(184,000)
25,000
11,000

In accordance with the report of the actuary, the surplus at 31 March 2025 and 31 March 2024 has not been recognised as an asset in the accounts.

No adjustment has been made to either the profit and loss account or statement of other comprehensive income in respect of the above.

Page 21

Age UK Bolton

Notes to the Financial Statements

For the year ended 31 March 2025

14 Pension schemes (continued)

The adjustments attributable to the Statement of Financial Activities are as follows:
Contributions
Interest on pension scheme liabilities
Expected return on scheme assets
Benefits paid and expenses
The amounts attributable to the Statement of Other Comprehensive Income are as follows:
Asset losses arising during the year
Liability gains (losses) arising during the year
Unrecognised asset movement		 2025
2024
£
£
6,000
6,000
(9,000)
(9,000)
9,000
9,000
(1,000)
(1,000)
5,000
5,000
2025
2024
£
£
(14,000)
(5,000)
23,000
(1,000)
(14,000)
1,000
(5,000)
(5,000)

Age UK Stakeholder Pension Scheme

The Scheme commenced on 1 October 2001 and was made available to all employees who were not already members of the Age UK Retirement Benefits Scheme.

15 Financial risk management objectives and policies

The company holds or issues financial instruments in order to achieve three main objectives, being:

(a) to finance its operations;

(b) to manage its exposure to interest risks arising from its operations and from its sources of finance; and

(c) for trading purposes.

In addition, the company has various other financial assets and liabilities such as trade debtors and trade creditors arising directly from the company's operations.

Transactions in financial instruments result in the company assuming or transferring to another party one or more of the financial risks described below.

Interest rate risk

The company usually operates with sufficient funds so that borrowings are seldom required. On any necessary borrowings the company would be exposed to fair value interest rate risk on its fixed rate borrowings and cash flow interest rate risk on bank overdrafts and loans.

Credit risk

Investments of cash surpluses and borrowings are made through banks and companies which must fulfil credit rating criteria approved by the Board.

All customers who wish to trade on credit terms are subject to credit verification procedures. Trade debtors are reviewed on a regular basis and provision is made for doubtful debts when necessary.

Liquidity risk

The company manages its cash and borrowing requirements in order to maximise interest income and minimise interest expense, whilst ensuring the company has sufficient liquid resources to meet the operating needs of the business.

16 Indemnity insurance

Age UK provides insurance for the Trustees and officers of the Charity against liability arising from wrongful acts in relation to the Charity.

17 Ultimate control

There is no ultimate controlling party.