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** **----- Start of picture text -----**
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. **----- Start of picture text -----**
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. **----- Start of picture text -----**
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_ **----- Start of picture text -----**
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** **----- Start of picture text -----**
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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: - To encourage, promote and organise direct services appropriate to the needs of older people. - To work in partnership with other organisations with a similar goal. - To engage in research and the provision and publication of information. Details of services and activities delivered during 2024-25 are set out in the Annual Report ## **Current and future objectives** - To deliver high quality, accessible services, activities and learning opportunities, to enable those over 50 to remain safe, independent, mentally, physically and socially active and to enjoy a fulfilled later life ; - To strive with others to ensure that older people are not seen as a drain on society but as the valuable resource and assets they are ; - To ensure that older people are listened to and that their views inform and influence both our work and wider service and policy development ; - To be a sustainable, fit for purpose, relevant and evolving organisation focussed on the needs and aspirations of all older people in Bolton ; - To value, respect and support our staff, volunteers, customers and partners ; - To promote and respect equality and diversity in all our policies, operations and relationships. ## **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 : - To allow sufficient time for re-organisation in the event of a downturn in income or asset values ; - To meet its commitment and obligations ; - To protect on-going services and assets ; - To enable the Charity to meet its objectives including through new service development. In making their judgement on the level of unrestricted reserves the Trustees take account of the following issues and risks : - Over dependence on any single source of income - The likelihood of a downturn in any income streams - The period of time needed to identify and re-establish income streams - The period of time required to adjust or downsize the Charity’s operations - Whether there is adequate control over budgets and assets. 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: - Policy development and review - Organisational priorities - Significant organisational change - Major service developments - Risk identification, management 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: - give a true and fair view of the state of the Charitable Company’s and Group's affairs as at 31 March 2025 and of its income and expenditure, for the period then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Charities Act 2011. ## **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: - the information given in the Trustees’ report is inconsistent in any material respect with the financial statements; or - sufficient accounting records have not been kept; or - the financial statements are not in agreement with the accounting records and returns; or - we have not received all the information and explanations we require for our audit. 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: - The nature of the industry and sector, control environment and business performance including the Charitable Company's remuneration policies,: - Results of the enquiries of management about their own identification and assessment of the risks of irregularities; - Any matters we have identified having obtained and reviewed the company's documentation of their policies and procedures relating to: - identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of noncompliance; - detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; - the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; - the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. 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: - reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; - enquiring of management concerning actual and potential litigation and claims; - performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; - reading minutes of meetings of those charged with governance and reviewing correspondence with HMRC; and - in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business. 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. - Expenditure on raising funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes. - Expenditure on charitable activities comprises those costs incurred by the Charity in the delivery of its activities and service for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. - Governance costs comprise all costs involving the accountability of the Charity and its compliance with regulation and good practice. These costs include charges related to the independent examination and legal fees together with an apportionment of overheads and support costs. Page 13 Age UK Bolton ## Notes to the Financial Statements For the year ended 31 March 2025 ## **Expenditure (continued)** - All costs are allocated between the expenditure categories in the Statement of Financial Activities on a basis to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis e.g. Floor area or estimated usage as set out in Note 6 to the financial statements. ## **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 - **9 Fixed asset investments (continued)** **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 - **14 Pension schemes (continued)** 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.