OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2025-03-31-accounts

Driving equality, support and recognition

TRUSTEES’ ANNUAL REPORT AND ACCOUNTS 2024-25

Registered charity number 246329 (England & Wales) and SC039307(Scotland) Company limited by guarantee registered in England and Wales number 864097

Trustees’ Annual Report and Accounts 2024-25

Report of the Trustees

The Trustees present their report and audited financial statements for the year ended 31 March 2025. The financial statements comply with current statutory requirements, our Memorandum and Articles of Association and the Statement of Recommended Practice – Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

Legal and administrative information

Our aims

into contact with carers to ensure that they support carers in the best possible way. We host a forum and run on-line meet-ups, providing carers with peer support, knowledge and resilience to keep themselves informed, healthy and well. And we campaign to make life better for carers across the UK.

The Memorandum of Association sets out our aims for public benefit. They are:

Public benefit and how our activities deliver it

Structure, Governance and Management

The Trustees, supported by their committees, approve the overall strategy. The operational management of the charity is delegated to the Chief Executive, supported by a Senior Management Team, who make regular reports on progress against the agreed Business Plan to the quarterly meetings of the Board.

We have a duty to have due regard to the Charity Commission’s public benefit guidance, under Section 17 of the Charities Act 2011. We are confident that we meet those public benefit requirements having taken Charity Commission guidance into consideration. Our vision is a society that recognises, values and supports carers. We believe we meet the public benefit requirements through the range of activities we undertake, including through our free confidential National helpline and our email advice service. We also provide advice to employers and professionals who are committed to supporting carers and we work in partnership with other organisations that come

Matters reserved specifically for Board decision include the following: strategy; annual budgets; financial reporting and controls; structure and controls; board membership and other appointments; remuneration policy; corporate governance; key organisational policies; major financial transactions; procedures for Board decisions between Board meetings.

Report of the Report of the Trustees Trustees

Financial review 2024–25

Statement of Trustees’ responsibilities

Financial statements 2024–25

Notes to the financial statements

Carers UK Trustees’ Annual Report and Accounts 2024–25

02

Trustees’ Annual Report and Accounts 2024-25

There are four sub-committees and three Nation Committees of the Board.

Finance and Resources Committee

The Committee is responsible for reviewing the annual budget and for monitoring the performance of the organisation against its annual budget and business plan. The Committee is also responsible for monitoring and reviewing policies and processes in place for the identification and management of risk, the scope and effectiveness of the external audit and the appointment of an external auditor.

Governance, Constitution and Membership Committee

The Committee is responsible for reviewing the Articles of Association, developing governance policies, overseeing the arrangements for the Annual General Meeting and having strategic oversight of Carers UK membership.

Nominations Committee

The Committee is responsible for identifying and nominating candidates for appointment to the Board and its sub-committees. It is tasked with ensuring that there is always a majority of carer members. It is also responsible for supporting Board learning and development.

Remuneration Committee

The Committee sets and annually reviews the Chief Executive’s remuneration. It is also responsible for approving Senior Management Team salaries. The Committee is chaired by the Chair or Treasurer, and its membership is the Honorary Officers of Carers UK. This is the Treasurer, Chair and Vice Chair.

Nations Committees

The Scotland, Northern Ireland and Wales Committees each contribute to the dimensions of the Carers UK strategy and corporate plan in the Nations, the work of the Nations and the preparation and implementation of the Nations work plan.

Board of Trustees

In line with Carers UK’s aims in terms of public benefit, the charity is governed by a Board, the majority of whom are carers.

The number of Board members may not be more than 15. Board members are appointed for a term of four years and must stand down for a minimum of a year after two consecutive terms of office. The appointment must be approved by the members at the next Annual General Meeting which shall confirm the appointment.

On joining, Board members undergo an induction programme with training being provided during the year where necessary. They receive the constitution, the current five-year strategy and information about the organisation and its activities. Induction also includes meeting key staff within the charity.

Staff

During the year, the Senior Management Team comprised the: Chief Executive, Chief Operating Officer, Director of Carer Services, Director of Income Generation and Communications, Director of Policy and Public Affairs and Director of Devolved Nations.

The Senior Management team is responsible for the day to day running of the organisation in line with the agreed strategy, and makes recommendations to the Board.

Remuneration Policy

Carers UK is committed to a remuneration strategy that enables the charity to attract and retain appropriately skilled, experienced and qualified staff who can help realise our vision of a society that respects, values and supports carers. Remuneration comprises salary, pension contributions and other benefits and is periodically, but as a minimum of every three years, benchmarked against those for people in comparable roles and organisations.

Responsible Fundraising

At Carers UK our members, supporters and volunteers matter to us a great deal. They are a vital part of what we do and we could not do our work without them.

We have always aspired to the very highest standards and continually work to review and strengthen our procedures to ensure these standards are always met.

We are registered with the Fundraising Regulator

Report of the Report of the Trustees Trustees

Financial review 2024–25

Statement of Trustees’ responsibilities

Financial statements 2024–25

Notes to the financial statements

Carers UK Trustees’ Annual Report and Accounts 2024–25

03

Trustees’ Annual Report and Accounts 2024-25

and we take seriously our commitment to uphold their code of conduct within our fundraising to meet best practice within the sector.

We received no complaints from members, supporters or volunteers as a result of our fundraising activity in the year. We have not worked with professional fundraisers or commercial participators in the year. Should we receive any complaints we take them extremely seriously. This helps us to remain accountable to our members, supporters and volunteers and ultimately improve how we work because of the feedback we receive.

Maintaining data security and privacy is an absolute priority for us, not just to meet our legal obligations but to build trust with those who support our carers movement.

We undertake organisational training to ensure that staff meet our expectations of best practice for data protection. Carers UK will not swap or sell data with other organisations. We respect the wishes of any member, supporter or volunteer who no longer wishes to hear from us or who prefers to receive contact through certain channels, or not receive contact from Carers UK at all.

During the year, we did not have any third parties fundraising directly with the public on our behalf.

Carers UK has policies in place explicitly for the protection of vulnerable people. Donations from individuals are an important source of income for Carers UK. We will never take the generosity of our donors for granted.

Protecting the public

Since 2010, Carers UK has had a policy in place explicitly for the safeguarding of children and adults at risk. All staff are trained in its meaning and application. The policy has been circulated to all staff who have signed an acknowledgement that they have read and understood it and know how to escalate a safeguarding issue.

Governance Review

As we continue to grow it is important that the governance structures continue to be fit for purpose for the next stages. We continuously review our governance and operations to best prepare for the future.

Financial Risk Management

We are pleased to report that we have maintained a positive position in a challenging year. Our unrestricted deficit was £13.95k, whilst all our restricted funds have continued to be matched with our programmes.

Our reserves stood at £3.94m and includes unrestricted general funds of £2.1m, sufficient to cover 6.1 months of unrestricted expenditure (2024: 6.3 months). We are pleased to have achieved this level of reserves cover, in a challenging environment. This will further strengthen our financial position to ensure we are well placed to continue our work to support unpaid carers.

To maintain financial sustainability and deliver sufficient income to meet ongoing financial commitments and deliver our strategic goals

we have robust internal financial controls and policies in place.

Our strategy is to invest, grow and diversify our multi-year income streams.

The Finance and Resources Committee regularly review our financial performance and risks. This is monitored through the use of key financial and performance indicators which are reported at each meeting. A phased budget and quarterly re-forecasting, enables the senior management team and managers to link financial performance with resources and activity.

Plans for the future

2025 is Carers UK’s 60th year. To make sure of our continued success we will build on the learnings of this year and from the last five decades. We will maximise all opportunities that this presents to us; embracing new ways of working by continuing to evolve our support for carers and to invest in and grow newly identified income streams so that we can make a greater difference than ever before to the lives of carers.

Principal Risks and Uncertainties

The Finance and Resources Committee has delegated authority from the Board to ensure that a review of the major risks to which the charity is exposed is conducted and that systems have been established to mitigate those risks. The Board receives a summary report quarterly and detailed report at least once a year.

Carers UK has a comprehensive risk management process in place to identify

Report of the Report of the Trustees Trustees

Financial review 2024–25

Statement of Trustees’ responsibilities

Financial statements 2024–25

Notes to the financial statements

Carers UK Trustees’ Annual Report and Accounts 2024–25

04

Trustees’ Annual Report and Accounts 2024-25

and address the major financial, operational, governance, reputational and regulatory risks which might impact on its ability to meet its objectives. Carers UK has an organisational risk register which records the major risks,

the controls in place to mitigate those risks and actions required, if appropriate. The Senior Management team reviews and updates the register on a quarterly basis.

Internal risks are minimised by the implementation of procedures for authorisation of all transactions and programmes and to ensure quality of delivery for all operational aspects of the services provided. A Finance Procedures Manual has been adopted as part of the charity’s policies and procedures to ensure that financial control procedures are applied uniformly across the charity.

Carers UK has identified the following key strategic risks:

our staff and we will put in place a system to ensure we have taken the necessary steps to ensure compliance. Access to personal data is limited to those who require such access for work purposes.

Financial and scenario planning is in place to respond to any changes to Government guidance and income forecast.

These risks are subject to ongoing monitoring by the Senior Management team. Carers UK also has a strategic business plan with aims, objectives and key performance indicators that are monitored monthly by the Senior

Management team and also by the Board to ensure the effective delivery of the plan and the management of risk.

Report of the Report of the Trustees Trustees

Financial review 2024–25

Statement of Trustees’ responsibilities

Financial statements 2024–25

Notes to the financial statements

Carers UK Trustees’ Annual Report and Accounts 2024–25

05

Trustees’ Annual Report and Accounts 2024-25

Administrative details

Trustees (continued)

Vice Presidents

Rt Hon the Baroness Bottomley of Nettlestone PC DL

Eleanor Bradley (Treasurer) FR/R

Tim Anfilogoff

Don Brereton CB

Wendy Chamberlain (from 20 November 2024)

Dr Helen Brown FR

Margaret Dangoor GCM

Ian Peters

Beverley Harden

The Baroness Pitkeathley OBE Dame Philippa Russell DBE Caroline Walters OBE

Colin Harper (Chair Northern Ireland Committee) (until 9 October 2024)

Flora Martin MBE (Chair of Scotland Committee)

Patrons

Sivakhanthan Shanmuganathan

Johnnie Walker MBE (until 31 December 2024)

Visala James

Tiggy Walker

Saran Evans Chair of Wales Committee (until 24 January 2025)

Trustees

Somaya Akhtar FR (from 9 October 2024)

Nick Baird CMG CVO (Chair) FR/GCM/N/R

Anthony Hatter (from 9 October 2024)

Virginia Pulbrook (Vice Chair) FR/R

David Josephs (from 9 October 2024)

FR Member of the Finance and Resources Committee

GCM Member of the Governance, Constitution and Membership Committee

N Nominations Committee

R Member of the Remuneration Committee

Marnie Woodward FR (from 9 October 2024)

Special advisor to the Board

Andrew Chapman (from July 2025)

For the purposes of the

Companies Act 2006, members of the Board of Trustees, none of whom receives remuneration, are deemed directors of the company. They are approved by the members of Carers UK, or co- opted by the Board, in accordance with the requirements of the Memorandum and Articles of Association.

Chief Executive

Helen Walker

Company Secretary

Marie Magimay

Principal Bankers

Triodos Bank 20 Deanery Road, Bristol, BS1 5AS

Solicitors

Bates, Wells & Braithwaite 2–6 Cannon Street, London EC4M 6YH

Russell Cooke 2 Putney Hill, London, SW15 6AB

Auditor

Azets Audit Services 2nd Floor, Regis House, 45 King William St, London, EC4R 9AN

Investment manager

Rathbone Investment Management 8 Finsbury Circus, London, EC2M 7AZ

Organisation Status

Carers UK is a company limited by guarantee and a charity registered in England and Wales, and in Scotland, governed by its Memorandum and Articles of Association.

The company’s registered office is 20 Great Dover Street, London SE1 4LX.

Report of the Report of the Trustees Trustees

Financial review 2024–25

Statement of Trustees’ responsibilities

Financial statements 2024–25

Notes to the financial statements

Carers UK Trustees’ Annual Report and Accounts 2024–25

06

Trustees’ Annual Report and Accounts 2024-25

Financial review 2024–25

We are pleased to report that despite the challenges faced 2025 was a successful year in terms of progress made in the fourth year of our Vision 2025 plan. For the year ending March 2025 Carers UK achieved a total income of £4.78m against total expenditure of £4.80m giving an overall operating deficit of £25k. Within this, we had an unrestricted surplus of £13.95k. The restricted deficit of £39.4k is fully covered, from relevant restricted reserves brought forward where programmes run across more than one financial year.

Cashflow

Income

There was a cash outflow during the year.

Total income for the year increased by £135k to £4.78m. Unrestricted income increased by £702k in 2025 to £3.29m. Restricted income decreased by £567k to £1.49m as multi year programmes ended.

During the year we spent a total of £4.3m on charitable activities. We increased unrestricted expenditure on charitable activities by £738k (36%) to £2.76m. Restricted expenditure decreased by £979k (39%) to £1.52m, mainly due to multi-year funding programmes coming to an end. The overall spending on charitable activities is £242k lower compared to last year due to this.

Reserves

Carers UK holds three different kinds of reserves funds: restricted funds, designated funds and general funds. At the end of 2024–2025 our total reserves were £3,944,370.

Donations and legacies were £2.19m in the year an increase of £760k from 2024. Within this, corporates increased by £547k to £1.35m and legacies increased by £257k to £388k.

The overall cost of fundraising increased by 19% (£81k) to £516k. This investment is reflected in the 53% increase in voluntary income to £2.2m in the year. Our overall fundraising return (including grants and donations) was £6.63 for each £1 spent (2024: £7.93 for each £1 spent).

General funds are funds that are easily realisable and exclude restricted and designated funds. Carers UK reserves policy is to maintain a level of general reserves that will enable us to maintain and support the continuity of our programme of support to carers and provide sufficient working capital in the event of an unexpected loss of income or increase in expenditure. To mitigate any income risk due to the impact of inflation, cost of living and fuel crises the Board have agreed that we should hold the general reserves fund between three to six months forward expenditure. At 31 March 2025 the general reserve fund increased by 1% to £2.11m. This is equivalent to 6.1 months of 2025 budgeted unrestricted expenditure of

Incoming resources from charitable activities, received primarily from grants, statutory funding, consultancy and subscriptions, decreased by £584k (19%) to £2.49m. This was due to a £791k (39%) decrease in restricted income from grants and trusts, which is offset against an increase of £777k in unrestricted voluntary income.

We have been able to commit 88%* (2024: 91%) of expenditure to our core work of making life better for carers.

Expenditure

* Charitable expenditure is 88% (2024:91%) of total resources expended excluding other resources expended.

Overall, our total resources expended for the year were £4.80m, £161k lower compared to last year (2024: £4.96m).

Report of the Trustees

Financial review Financial review 2024–25 2024–25

Statement of Trustees’ responsibilities

Financial statements 2024–25

Notes to the financial statements

Carers UK Trustees’ Annual Report and Accounts 2024–25

07

Trustees’ Annual Report and Accounts 2024-25

£4m. We will endeavour to continue holding six months reserves which will give us the confidence to meet the challenges of the years ahead as we continue to operate with a high level of uncertainty around what fundraising activity will be possible over the next few years.

The designated fund includes the property fund which reflects the balance sheet value of the property and is shown net of the loan secured against the property and a development fund of £1.15m ring-fenced specifically for the development of future projects including phase 2 of the CRM project and our 60th anniversary programme of events.

Our restricted reserves are funds received for undertaking an activity specified by the donor or funder when making the gift. This decreased by 28% to £98k as major programmes of work, ended in the year.

Investment policy

Investments are held to complement and support the reserves policy, requiring funds to be available at short notice to deal with a significant and sudden fall in income. The main investment objective is to protect capital and to invest in liquid assets. It is also intended to be a long-term investment and as a result we are not overly concerned by an in-year reduction. During the year the Board reviewed our investment policy and agreed that surplus funds should continue to be invested in charity ethical pooled funds due to the current economic uncertainty. On 31 March 2025 the investment was made up of: pooled funds valued at £725,676 plus £1,761,341 was held in bank deposits. The pooled funds decreased by 0.1% (£770) in the year. Details can be found in Note 9b.

Going concern review

The Board and Senior Management team carry out an annual review of the charity’s financial position and performance as part of our budget setting process. We have assessed projected future income, expenditure and cash flows over the period to 31 March 2026, and analysed the strength of the charity’s reserves, liquid assets and its ability to withstand a material fall in income. We have considered the stability and diversity of various income streams in making this assessment, particularly in light of the impact of the external climate. We are also actively working to secure new income sources in 2025-26 to fund planned activities into the next couple of years.

In summary

We have carefully considered the impact of the external economic climate and we are still confident there are no material uncertainties in the next 12 months.

We have concluded that there is a reasonable expectation that the charity has adequate resources to continue its activities for the foreseeable future. Therefore, we have continued to adopt the going concern basis in preparing the financial statements.

Report of the Trustees

Financial review Financial review 2024–25 2024–25

Statement of Trustees’ responsibilities

Financial statements 2024–25

Notes to the financial statements

Carers UK Trustees’ Annual Report and Accounts 2024–25

08

Trustees’ Annual Report and Accounts 2024-25

Statement of Trustees’ responsibilities

The Trustees (who are also directors of Carers UK for the purposes of company law) are responsible for preparing the report of the Trustees’ and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare adequate financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.

In preparing these financial statements, the Trustees are required to:

Report of the Trustees

Financial review 2024–25

Statement Statement of Trustees’ of Trustees’ responsibilities responsibilities

Financial statements 2024–25

Notes to the financial statements

Auditors

Azets Audit Services were appointed as the charitable company’s auditors during the year and have expressed their willingness to continue to act as the charitable company’s auditors in that capacity.

In so far as the Trustees are aware:

Approved by the Trustees on 16 July 2025 and signed on their behalf by:

Nick Baird (Chair)

Eleanor Bradley (Treasurer)

Carers UK Trustees’ Annual Report and Accounts 2024–25

09

Trustees’ Annual Report and Accounts 2024-25

Independent Auditor’s report

We have audited the financial statements of Carers UK (the ‘charitable company’) for the year ended 31 March 2025 which comprise the statement of financial activities, balance sheet, statement of cash flows and notes to the financial statements, including 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 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 other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. 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.

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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Report of the Trustees

Financial review 2024–25

Statement Statement of Trustees’ of Trustees’ responsibilities responsibilities

Financial statements 2024–25

Notes to the financial statements

Carers UK Trustees’ Annual Report and Accounts 2024–25

10

Trustees’ Annual Report and Accounts 2024-25

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the trustees’ responsibilities statement, the trustees (who are

also the directors of the charitable company for the purposes of company law) 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 44(1) (c) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with the Acts 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, which include:

Because of the inherent limitations of an audit, there is a risk that we will not detect

Report of the Trustees

Financial review 2024–25

Statement Statement of Trustees’ of Trustees’ responsibilities responsibilities

Financial statements 2024–25

Notes to the financial statements

Carers UK Trustees’ Annual Report and Accounts 2024–25

11

Trustees’ Annual Report and Accounts 2024-25

all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: 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 charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and to the charitable company’s trustees, as a body, in accordance with Regulation 10 of the Charities Accounts (Scotland) Regulations 2006. Our audit work has been undertaken so that we might state to the charitable company’s members and trustees 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 charitable company, the charitable company’s members as a body, and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Report of the Trustees

Financial review 2024–25

Statement Statement of Trustees’ of Trustees’ responsibilities responsibilities

Financial statements 2024–25

Notes to the financial statements

John Howard (Senior Statutory Auditor)

for and on behalf of:

Azets Audit Services

Chartered Accountants, Statutory Auditor, 2nd Floor, Regis House, 45 King William St., London EC4R 9AN

Date: 10 September 2025

Carers UK Trustees’ Annual Report and Accounts 2024–25

12

Report of the Trustees

Financial review 2024–25

Statement of Trustees’ responsibilities

Financial Financial statements statements 2024–25 2024–25

Notes to the financial statements

Carers UK Trustees’ Annual Report and Accounts 2024–25

13

Trustees’ Annual Report and Accounts 2024-25

Statement of financial activities

(incorporating an Income and Expenditure Account) for the year ended 31 March 2025

----- Start of picture text -----
Notes Unrestricted Funds Restricted Funds 2025 Unrestricted Funds Restricted Funds 2024
----- End of picture text -----

Income from:
Donations & Legacies
2
Charitable Activities
3
Equality
Support
Recognition
Total Charitable Activities
Investments
Publication Sales
Misc Income
Total income
Expenditure on:
5
Raising funds:
Fundraising costs
Charitable Activities
Equality
Support
Recognition
Total Charitable Activities
Total Expenditure
Net incoming/(outgoing) resources before transfers
6
Unrealised Gains/(Losses) on Investments
9b
Transfers between Funds
Net Movements in Funds for the year
13a
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 £
£
£
2,077,825
108,019
2,185,844
425,105
465,587
890,692
404,301
594,260
998,561
280,957
318,247
599,204
1,110,363
1,378,094
2,488,457
102,175
-
102,175
-
-
-
2,510
-
2,510
104,685
-
104,685
3,292,873
1,486,113
4,778,986
516,493
-
516,493
644,739
581,301
1,226,040
1,055,874
519,590
1,575,464
1,061,817
424,623
1,486,440
2,762,430
1,525,514
4,287,944
3,278,923
1,525,514
4,804,437
13,950
(39,401)
(25,451)
(21,197)
-
(21,197)
(1,957)
1,957
-
(9,204)
(37,444)
(46,648)
3,855,186
135,832
3,991,018
3,845,982
98,388
3,944,370		 £
£
£
1,300,662
125,228
1,425,890
448,113
590,427
1,038,540
434,498
909,360
1,343,858
270,969
418,703
689,672
1,153,580
1,918,490
3,072,070
89,548
-
89,548
326
422.00
748
46,890
8,948.00
55,838
136,764
9,370.00
146,134
2,591,006
2,053,088
4,644,094
435,391
-
435,391
500,638
812,264
1,312,902
773,672
1,007,131
1,780,803
750,490
685,622
1,436,112
2,024,800
2,505,017
4,529,817
2,460,191
2,505,017
4,965,208
130,815
(451,929)
(321,114)
48,116
-
48,116
535,168
(535,168)
-
714,099
(987,097)
(272,998)
3,141,087
1,122,929
4,264,016
3,855,186
135,832
3,991,018

Report of the Trustees

Financial review 2024–25

Statement of Trustees’ responsibilities

Financial Financial statements statements 2024–25 2024–25

Notes to the financial statements

All of the above results are derived from continuing activities. There were no other recognised gains and losses other than those stated above. Movements in funds are disclosed in Note 13 to the financial statements.

Carers UK Trustees’ Annual Report and Accounts 2024–25

14

Trustees’ Annual Report and Accounts 2024-25

Balance sheet

Company number: 00864097

as at 31 March 2025

Balance sheet
as at 31 March 2025
Company number: 00864097		 Balance sheet
as at 31 March 2025
Company number: 00864097		 Balance sheet
as at 31 March 2025
Company number: 00864097		 Balance sheet
as at 31 March 2025
Company number: 00864097		 Balance sheet
as at 31 March 2025
Company number: 00864097
Notes
2025
2024
~~LU~~
£ £
Fixed assets
Tangible fixed assets 9a 1,036,737 1,106,569
Investments 9b 2,487,017 2,074,307
Total fixed assets 3,523,754 3,180,876
Current assets
Debtors 10 730,584 985,845
Cash at bank and in hand 866,793 1,412,335
Total current assets 1,597,378 2,398,180
Current Liabilities
Creditors: amounts falling due within one year
Net current assets		 11a (779,705)
817,672		 (1,149,038)
1,913,472
~~—~~
Creditors: amounts falling due after one year 11b (397,056) (439,000)
Net Assets less current liabilities less
Creditors falling due after one year		 420,616 810,142
Total Net Assets 3,944,370 3,991,018
Funds 13
Restricted 98,388 135,832
Designated Funds 1,738,016 1,766,893
General 2,107,966 2,088,293
Total funds 3,944,370 3,991,018

The financial statements have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.

Approved by the Board of Trustees on 16 July 2025 and signed on its behalf by:

Nick Baird (Chair)

Eleanor Bradley (Treasurer)

Report of the Trustees

Financial review 2024–25

Statement of Trustees’ responsibilities

Financial Financial statements statements 2024–25 2024–25

Notes to the financial statements

The notes on pages 17 to 32 form part of these financial statements.

Carers UK Trustees’ Annual Report and Accounts 2024–25

15

Trustees’ Annual Report and Accounts 2024-25

Statement of cash flows

for the year ended 31 March 2025

2025
£
(46,648)
(102,175)
69,832
21,197
255,261
(370,324)
(172,857)
102,175
(433,907)
(40,954)
(545,543)
1,412,335
866,792		 2024
Reconciliation of operating surplus to net cash outfow from operating activities
Net outgoing resources before revaluations
Investment income
Depreciation charges
Unrealised (gains)/losses on investment
(Increase)/Decrease in debtors
Increase/(Decrease) in creditors
Net cash outfow from operating activities
Cash Flows from investing activities
Investment income
Cash Flows from Capital Expenditure
Purchase of Investments
Cash Flows from fnancing activities
Repayments of borrowings
Change in cash and cash equivalents in the year
Cash and cash equivalents brought forward
Cash and liquid resources as at 31 March		 £
(272,998)
(89,548)
71,458
(48,116)
(93,325)
(1,052,292)
(1,484,821)
89,548
(366,022)
(46,055)
(1,807,350)
3,219,685
1,412,335

Report of the Trustees

Financial review 2024–25

Statement of Trustees’ responsibilities

Financial Financial statements statements 2024–25 2024–25

Notes to the financial statements

Carers UK Trustees’ Annual Report and Accounts 2024–25

16

Trustees’ Annual Report and Accounts 2024-25

Notes to the financial statements

England. The subsidiary remained dormant throughout the financial year. The financial statements are therefore not consolidated.

For the year ended 31 March 2025

1 Accounting policies

c) Reporting period

The financial statements cover the year to 31 March 2025.

a) Statutory Information

Carers UK Limited is a charitable company limited by guarantee and is incorporated in the United Kingdom.

d) Public benefit entity

The registered office address is 20 Great Dover Street London SE1 4LX.

The charitable company meets the definition of a public benefit entity under FRS 102.

b) Basis of preparation

e) Going concern

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 Standard applicable in the UK and Republic of Ireland (FRS 102 ) - (Charities SORP FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006.

The trustees consider that there are no material uncertainties about the charitable company’s ability to continue as a going concern. Key judgements that the charitable company has made which have a significant effect on the accounts include estimating the liability from multi-year grant commitments. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy or note.

Due to the current challenging external environment the trustees have exercised even more caution with regard to the charity and consideration is given to the effects of outside elements on the charitable company’s core activities. The close relationships which the

The charitable company owns the whole of the issued ordinary share capital of Carers UK Trading limited, a company registered in

company has with its funders has enabled the trustees to place reliance on the future funding requirements continuing to be met and therefore consider that the charitable company can continue as a going concern.

f) Recognition of income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and that the amount can be measured reliably.

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income received in advance for the provision of specified service is deferred until the criteria for income recognition are met.

Corporate subscriptions are received for the Employers for Carers scheme. The subscriptions provide employers access to resources throughout the subscription period, which is usually one year. Our accounting policy is to recognise the subscription income as the benefits are provided. The estimate for accounting purposes is to recognise the subscription income at the point of initial subscription or renewal, as this is when most of the services are provided.

Report of the Trustees

Financial review 2024–25

Statement of Trustees’ responsibilities

Financial statements 2024–25

Notes to the Notes to the financial financial statements statements

Carers UK Trustees’ Annual Report and Accounts 2024–25

17

Trustees’ Annual Report and Accounts 2024-25

The charity receives a number of legacies and maintains a pipeline of notifications. The charity uses a portfolio approach to estimate the monetary value of the income that may be received from legacies to which entitlement is established and probate is granted. Receipt of a legacy is only considered probable when the amount can be measured reliably. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is not treated as a contingent asset and disclosed if material.

g) Donations of gifts, services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), volunteer time is not recognised so refer to the trustees’ annual report for more information about their contribution.

On receipt, donated gifts, professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

h) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

i) Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.

j) Recognition of expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

k) Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include office costs, finance, personnel, payroll and governance costs which support the Trusts programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 5.

l) Tangible fixed assets

Items of equipment are capitalised where the purchase price exceeds £10,000. Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

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

Report of the Trustees

Financial review 2024–25

Statement of Trustees’ responsibilities

Financial statements 2024–25

Notes to the Notes to the financial financial statements statements

Carers UK Trustees’ Annual Report and Accounts 2024–25

18

Trustees’ Annual Report and Accounts 2024-25

m) Debtors

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

n) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of six months or less from the date of acquisition or opening of the deposit or similar account.

o) Creditors and provisions

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

q) Listed Investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. Any change in fair value will be recognised in the statement of financial activities.

r) Pensions

The charity contributes to a stakeholder pension scheme on behalf of its staff, and the cost is recognised as incurred. This is a defined contribution scheme.

s) Taxation status

As a charity Carers UK Limited is exempt from taxation of income and gains falling within Section 505 of the Taxes Act 1988 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent these are applied charitably. No tax charge has arisen in the year.

Report of the Trustees

Financial review 2024–25

Statement of Trustees’ responsibilities

Financial statements 2024–25

Notes to the Notes to the financial financial statements statements

p) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Carers UK Trustees’ Annual Report and Accounts 2024–25

19

Trustees’ Annual Report and Accounts 2024-25

2 Voluntary Income

Unrestricted Funds
Restricted Funds
2025
£
£
£
84,165
779
84,944
-
97,000
97,000
388,053
-
388,053
1,344,645
10,240
1,354,885
130,560
-
130,560
67,773
-
67,773
4,727
-
4,727
57,902
-
57,902
2,077,825
108,019
2,185,844		 Unrestricted Funds
Restricted Funds
2024
Donations and Gifts inc. Membership
Funding for DH Strategic Partners Programme (a)
Legacies
Corporates
Trusts
Fundraising Events
Tax reclaims
Payroll Giving		 £
£
£
79,617
110
79,727
-
97,000
97,000
129,921
646
130,567
805,023
2,500
807,523
167,246
24,972
192,218
42,633
-
42,633
7,375
-
7,375
68,847
-
68,847
1,300,662
125,228
1,425,890

(a) Relates to a grant receivable from Department of Health (DH) as part of the Strategic Partners Programme shared between Carers Trust and Carers UK.

Report of the Trustees

Financial review 2024–25

Statement of Trustees’ responsibilities Financial statements 2024–25

Notes to the Notes to the financial financial statements statements

3 Incoming resources from charitable activities

a. current year

----- Start of picture text -----
Incoming resources from charitable activities (current year) Grants & Trusts – See Note 4 Conferences Training & Subscriptions & Consultancy 2025 2024
----- End of picture text -----

Equality
Support
Recognition		 £
£
£
£
417,849
29,559
443,284
890,692
531,631
55,477
411,453
998,561
288,699
26,865
283,640
599,204
1,238,179
111,901
1,138,377
2,488,457		 £
1,038,540
1,343,858
689,672
3,072,070

b. prior year

----- Start of picture text -----
Incoming resources from charitable activities (prior year) Grants & Trusts – See Note 4 Conferences Training & Subscriptions & Consultancy 2024 2023
£ £ £ £ £
Equality 630,181 15,363 392,996 1,038,540 1,295,931
Support 933,993 24,093 385,772 1,343,858 1,606,544
Recognition 464,759 18,421 206,492 689,672 997,332
2,028,933 57,877 985,260 3,072,070 3,899,807
----- End of picture text -----

Carers UK Trustees’ Annual Report and Accounts 2024–25

20

Trustees’ Annual Report and Accounts 2024-25

4 Grants and Donations Receivable

The Grants and Donations listed below were expended in accordance with the terms specified in each individual grant.

2025
£
17,631
55,000
-
-
74,790
35,000
-
-
50,000
299,069
22,465
13,746
260,930
132,776
20,000
13,300
15,802
69,195
1,500
156,975
-		 2024
Sport England
Pears Foundation
Marie-Louise von Motesiczky Charitable Trust
Tribe
abrdn Financial Fairness Trust
Dulverton Trust
The Covid 19 Support Fund
J H Rausing Trust
Lloyds Foundation
Scottish Government
The Robertson Trust
Other Scotland Trusts< £15000
Welsh Government Sustainable Social Services Grant
Carers Trust Wales
Big Lottery
Other Wales grants< £15000
DHSSPS (N.I): Core Grant
Community Foundation for N Ireland
Other N Ireland grants<£15,000
Anonymous Funders
Other Nationwide grants< £25,000
TOTAL GRANTS RECEIVED FOR CHARITABLE ACTIVITIES		 £
109,000
50,000
100,000
189,301
55,000
35,000
447,564
45,000
-
299,069
15,000
15,050
260,000
132,776
-
1,200
15,802
136,146
-
118,025
5,000
1,238,179 2,028,933

Report of the Trustees

Financial review 2024–25

Statement of Trustees’ responsibilities

Financial statements 2024–25

Notes to the Notes to the financial financial statements statements

Carers UK Trustees’ Annual Report and Accounts 2024–25

21

Trustees’ Annual Report and Accounts 2024-25

5 Total resources expended

a. current year

a. current year
Cost of
Fundraising costs
Carers
Equality
Carers
Support
Carers
Recognition
Governance
Costs
Support Costs
2025
£
£
£
£
£
£
£
355,503
753,438
921,379
844,644
-
278,944
3,153,908
160,990
-
-
-
-
-
160,990
-
-
-
-
-
146,137
146,137
-
-
-
-
-
111,182
111,182
-
-
-
-
-
157,204
157,204
-
-
-
-
26,433
-
26,433
-
-
-
-
15,700
-
15,700
-
20,949
20,949
27,932
-
-
69,830
-
260,024
414,113
288,916
-
-
963,053
516,493
1,034,411
1,356,441
1,161,492
42,133
693,467
4,804,437
-
208,834
202,753
281,880
-
(693,467)
-
-
12,600
15,408
14,125
(42,133)
-
-
516,493
1,255,845
1,574,602
1,457,497
-
-
4,804,437		 2024
Staff Costs (Note 7)
Fundraising costs
Finance
Information Technology
General Administration
AGM and Trustees travel
Audit Fees
Depreciation
Direct costs
Total
Support Costs - allocated by
staff time apportionment
Governance Costs
Total resources expended		 £
3,080,517
154,221
136,529
91,021
157,208
48,702
15,700
71,458
1,209,852
4,965,208
-
-
4,965,208

Report of the Trustees

Financial review 2024–25

Statement of Trustees’ responsibilities Financial statements 2024–25

Notes to the Notes to the financial financial statements statements

Carers UK Trustees’ Annual Report and Accounts 2024–25

22

Trustees’ Annual Report and Accounts 2024-25

5 Total resources expended

b. prior year

----- Start of picture text -----
Cost of Carers Carers Carers Governance
Fundraising costs Equality Support Recognition Costs Support Costs 2024 2023
£ £ £ £ £ £ £ £
Staff Costs (Note 7) 281,170 749,109 1,028,489 743,423 - 278,326 3,080,517 3,244,737
Fundraising costs 154,221 - - - - - 154,221 206,026
Finance - - - - - 136,529 136,529 139,805
Information Technology - - - - - 91,021 91,021 119,721
General Administration - - - - - 157,208 157,208 161,896
AGM and Trustees travel - - - - 48,702 - 48,702 24,024
Audit Fees - - - - 15,700 - 15,700 11,500
Depreciation - 21,437 21,437 28,584 - - 71,458 71,515
Direct costs - 322,833 515,418 371,601 - - 1,209,852 972,063
Total 435,391 1,093,379 1,565,344 1,143,608 64,402 663,084 4,965,208 4,951,287
Support Costs - allocated by - 200,386 189,185 273,513 - (663,084) - -
staff time apportionment
Governance Costs - 19,137 26,274 18,991 (64,402) - - -
Total resources expended 435,391 1,312,902 1,780,803 1,436,112 - - 4,965,208 4,951,287
----- End of picture text -----

Report of the Trustees

Financial review 2024–25

Statement of Trustees’ responsibilities Financial statements 2024–25

Notes to the Notes to the financial financial statements statements

5c Grants awarded

5c Grants awarded
2025
£
48,500		 2024
Department of Health (DH): Strategic Partners Programme
Total		 £
36,375
48,500 36,375

Carers UK Trustees’ Annual Report and Accounts 2024–25

23

Trustees’ Annual Report and Accounts 2024-25

6 Net incoming resources for the year

2025
This is stated after charging /(crediting):
£
Depreciation
69,831
Trustees' remuneration
-
Trustees' reimbursed expenses: Travel, subsistence and care expenses
921
Auditors’ remuneration
15,700
Over provision in prior year
-
Operating lease rentals
-		 2024
£
71,458
-
378
15,700
-
-

7 Staff costs and numbers

2025
£
2,716,983
277,303
159,622
-
3,153,908
2,876,605
2025
No.
54
6
9
69
2025
1
1
1
2
1		 2024
Salaries and Allowances
Social Security Costs
Pension Costs
Redundancy costs
Total emoluments paid to staff were:
The average weekly number of employees (based on
head count) during the year was as follows:
Charitable
Support
Fundraising
Number of employees' earning over £60,000
£100,001 – £110,000
£90,001 – £100,000
£80,001 – £90,000
£70,001–£80,000
£60,001–£70,000		 £
2,625,361
269,020
149,073
37,063
3,080,517
2,811,497
2024
No.
50
8
8
66
2024
1
-
2
2
2

The total employee benefits including pension contributions and employer’s national insurance of the key management personnel were £607,644 (2024: £668,421).

The charity trustees were not paid or received any other benefits from employment with the charity in the year (2024: £nil).

No charity trustee received payment for professional or other services supplied to the charity (2024: £nil).

Report of the Trustees

Financial review 2024–25

Statement of Trustees’ responsibilities

Financial statements 2024–25

Notes to the Notes to the financial financial statements statements

Carers UK Trustees’ Annual Report and Accounts 2024–25

24

Trustees’ Annual Report and Accounts 2024-25

8 Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

The charity’s trading subsidiary Carers UK Trading Ltd gift aids available profits to the charity. Its charge to corporation tax in the year was:

2025
£
UK Corporation tax at 20% (2020: 20%)
-		 2024
£
-

9a Tangible fixed assets

Report of the Trustees

Financial review 2024–25

Statement of Trustees’ responsibilities

Financial statements 2024–25

Notes to the Notes to the financial financial statements statements

----- Start of picture text -----
Long Leasehold Leasehold Office/Gen Total
Building Improvements Equipment
----- End of picture text -----

Cost
At 1 April 2024
Additions
At 31 March 2025
Accumulated depreciation
At 1 April 2024
Charge for year
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 £
£
£
£
1,361,012
803,651
36,295
2,200,958
-
-
-
-
1,361,012
803,651
36,295
2,200,958
428,772
631,751
33,866
1,094,389
27,220
40,183
2,429
69,832
455,992
671,934
36,295
1,164,221
905,020
131,717
-
1,036,737
932,240
171,900
2,429
1,106,569

Carers UK Trustees’ Annual Report and Accounts 2024–25

25

Trustees’ Annual Report and Accounts 2024-25

9b Investments

2025
£
2,074,307
433,907
-
(21,197)
2,487,017
2,250,000		 2024
Market value at the start of the year
Additions at historic cost
Disposal proceeds
Unrealised gains / (loss)
Market value at the end of the year
Historical cost at the year end		 £
1,660,169
366,022
-
48,116
2,074,307
1,900,000

All of the investment is held in UK Unit Trust Management units or cash. Of the £2,487,017, the amount held in pooled funds was £725,676, the remainder £1,761,341

Report of the Trustees

Financial review 2024–25

Statement of Trustees’ responsibilities

Financial statements 2024–25

Notes to the Notes to the financial financial statements statements

10 Debtors

2025
£
651,387
-
38,813
40,384
730,584		 2024
Trade debtors
Other debtors
Prepayments
Accrued income		 £
564,888
-
17,945
403,012
985,845

Carers UK Trustees’ Annual Report and Accounts 2024–25

26

Trustees’ Annual Report and Accounts 2024-25

11a Creditors: amounts due within one year

2025
£
108,996
49,642
163,610
457,457
779,705		 2024
Amounts due within one year
Trade creditors incl other creditors
Bank loans
Other Taxes & Social Security
Accruals and deferred income		 £
78,600
48,651
161,196
860,591
1,149,038
2025
£
754,225
(754,225)
342,251
342,251		 2024
Deferred income
Balance at the beginning of the year
Amount released to income in the year
Amount deferred in the year
Balance at the end of the year		 £
1,758,611
(1,203,611)
199,225
754,225

Report of the Trustees

Financial review 2024–25

Statement of Trustees’ responsibilities

Financial statements 2024–25

Notes to the Notes to the financial financial statements statements

11b Creditors: amounts falling due after one year

Amount due within one year 2025
£
237,666
159,390
397,056		 2024
Amounts falling due after one year
Loan payable due after one year and less than fve years
Loan payable due after fve years		 £
223,642
215,358
439,000

Carers UK Trustees’ Annual Report and Accounts 2024–25

27

Trustees’ Annual Report and Accounts 2024-25

12 Analysis of net assets between funds

a current year

----- Start of picture text -----
Restricted funds Designated funds General funds Total funds
----- End of picture text -----

Restricted funds Designated funds General funds Total funds
£ £ £ £
Tangible fxed assets - 1,036,737 - 1,036,737
Investments - - 2,487,017 2,487,017
Net current assets 98,388 1,098,335 (392,447) 804,276
Long term liabilities - (397,056) - (397,056)
Net assets at the end of the year 98,388 1,738,016 2,094,570 3,930,974

b prior year

----- Start of picture text -----
Restricted funds Designated funds General funds Total funds
----- End of picture text -----

Report of the Trustees

Financial review 2024–25

Statement of Trustees’ responsibilities

Financial statements 2024–25

Notes to the Notes to the financial financial statements statements

£ £ £ £
Tangible fxed assets - 1,104,140 2,429 1,106,569
Investments - - 2,074,307 2,074,307
Net current assets 135,832 1,101,753 11,557 1,249,142
Long term liabilities - (439,000) - (439,000)
Net assets at the end of the year 135,832 1,766,893 2,088,293 3,991,018

Carers UK Trustees’ Annual Report and Accounts 2024–25

28

Trustees’ Annual Report and Accounts 2024-25

13 Movement in funds

a current year

As at 1 April 2024
Incoming Resources
Resources expended
Transfers between Funds
As at 31 March 2025
Restricted funds:
Carers Support
DHSC Health & Wellbeing Alliance
Dulverton Trust
Pears Foundation
Sport England
abrdn Financial Fairness Trust
CRM Funding
Lloyds Foundation
Carers Trust - Carers Wales Joint Funding
Big Lottery Wales
Nation Offces:
Northern Ireland
Scotland
Wales		 £
£
£
£
£
-
4,000
4,000
-
-
-
97,000
97,000
-
-
-
35,000
35,000
-
-
-
55,000
55,000
-
-
-
17,631
17,631
-
-
22,251
74,790
74,790
-
22,251
-
156,975
156,975
-
-
-
50,000
50,000
-
-
-
132,776
132,129
-
647
-
20,000
10,132
-
9,868
24,050
107,829
133,832
1,953
0
-
393,986
393,990
4
-0
89,531
341,126
365,035
-
65,622
Total Restricted funds 135,832
1,486,113
1,525,514
1,957
98,388
As at 1 April 2024
Incoming Resources
Resources expended
Transfers between Funds
As at 31 March 2025
Unrestricted funds:
Designated Funds
Future projects funding
Loan liability
Offce fund
Total Designated Funds
General Funds
Total General Funds
Total Unrestricted Funds
Total Funds		 £
£
£
£
£
1,154,460
-
-
-
1,154,460
(487,652)
-
-
40,955
(446,697)
1,100,085
-
69,832
-
1,030,253
1,766,893
-
69,832
40,955
1,738,016
2,088,293
3,271,676
3,209,091
(42,912)
2,107,966
2,088,293
3,271,676
3,209,091
(42,912)
2,107,966
3,855,186
3,271,676
3,278,923
(1,957)
3,845,982
3,991,018
4,757,789
4,804,437
-
3,944,370

Report of the Trustees

Financial review 2024–25

Statement of Trustees’ responsibilities

Financial statements 2024–25

Notes to the Notes to the financial financial statements statements

Carers UK Trustees’ Annual Report and Accounts 2024–25

29

Trustees’ Annual Report and Accounts 2024-25

13 Movement in funds

b prior year

As at 1 April 2023
Incoming Resources
Resources expended
Transfers between Funds
As at 31 March 2024
Restricted funds:
Carers Services
DHSC Health & Wellbeing Alliance
The Covid 19 Support Fund
Sport England
abrdn Financial Trust
CRM Funding
Tribe
Virgin Media O2
Nation Offces:
Northern Ireland
Scotland
Wales		 £
£
£
£
£
-
5,000
5,000
-
-
-
97,000
97,000
-
-
262,294
447,564
716,206
6,348
-
-
133,972
133,972
-
-
-
55,000
32,749
-
22,251
162,780
118,025
280,806
1
-
(44,863)
189,300
199,231
54,794
-
653,186
-
-
(653,186)
-
-
179,129
186,466
31,387
24,050
-
385,700
415,381
29,681
-
89,532
442,398
438,206
(4,193)
89,531
Total Restricted funds 1,122,929
2,053,088
2,505,017
(535,168)
135,832
As at 1 April 2023
Incoming Resources
Resources expended
Transfers between Funds
As at 31 March 2024
Unrestricted funds:
Designated Funds
Future projects funding
Loan liability
Offce fund
Total Designated Funds
General Funds
Total General Funds
Total Unrestricted Funds
Total Funds		 £
£
£
£
£
1,154,460
-
-
-
1,154,460
(533,706)
-
-
46,054
(487,652)
1,171,543
-
71,458
-
1,100,085
1,792,297
-
71,458
46,054
1,766,893
1,348,790
2,639,122
2,388,733
489,114
2,088,293
1,348,790
2,639,122
2,388,733
489,114
2,088,293
3,141,087
2,639,122
2,460,191
535,168
3,855,186
4,264,016
4,692,210
4,965,208
-
3,991,018

Report of the Trustees

Financial review 2024–25

Statement of Trustees’ responsibilities

Financial statements 2024–25

Notes to the Notes to the financial financial statements statements

Carers UK Trustees’ Annual Report and Accounts 2024–25

30

Trustees’ Annual Report and Accounts 2024-25

Description of funds

(a) Designated Funds

----- Start of picture text -----
Office Fund This represents the net book value of the leasehold and improvements to the building at 20 Great Dover Street, London, SE1 4LX
Loan liability This represents the loan amount secured against the building.
Future projects funding This represents the amount designated by the trustees to fund future projects and provide contingency for increasing costs.
----- End of picture text -----

Transfers within designated funds relate to the annual repayment of the loan liability, and the trustees' formation of the future projects designated fund.

(b) Restricted Funds
Information and Advice Funding to support the adviceline team donated by Garfeld Weston and Barclays Bank.
Carers Support Funding to support carers research
DHSC Health & Wellbeing Alliance Grant received from Department of Health as part of the Strategic Partners Programme shared between Carers Trust and Carers UK.
Communications, Campaigns, Media & Public Affairs Funding to support the advice and advocacy work undertaken by Carers UK Limited to promote carers rights.
Barclays Funding to assist in the development of programmes designed to assist commercial organisations in helping carers within their workforces.
Tribe Funding to support the Healthy Ageing Trailblazers project.
Primary Care Navigator Contract to improve identifcation and support of carers within the primary care system within the boroughs of Westminster, Kensington &
Chelseaand Hammersmith & Fulham.
Memberships & Volunteers To enter into a mutually benefcial strategic partnership to improve the lives of Carers across the UK.
CRM Funding Funding to help the development of Carers new CRM system.
Sport England Funding to support a project to enable carers to access the benefts of physical activities. This is awarded in arrears which can lead to a
negative fund position at a given point in time.
abrdn Financial Fairness Trust Funding to encourage parliamentary engagement to reduce carer injustice and poverty.
COVID 19 Support Fund Funding to help Carers UK continue to deliver it's programmes of help and support to Carers during the pandemic.
Virgin Media O2 Funder has agreed that this is funding can be used to help develop and expand Carers UK core support and advice systems to all parts of the
UK.
Nation Offces:
Wales		 This relates to funds held in respect of offces based in Northern Ireland, Wales and Scotland.
Funding from the Welsh Government and others in support of our work in Wales.
Scotland Funding from the Scottish Government and others in support of our work in Scotland.
Northern Ireland Funding from the Northern Irish Assembly, Health Boards and Trusts in support of our work in Northern Ireland.
Branches:
West Sussex Carers Fund A legacy left for the beneft of carers in West Sussex.

Report of the Trustees

Financial review 2024–25

Statement of Trustees’ responsibilities Financial statements 2024–25

Notes to the Notes to the financial financial statements statements

Carers UK Trustees’ Annual Report and Accounts 2024–25

31

Trustees’ Annual Report and Accounts 2024-25

14 Related party transactions

There are no related party transactions to disclose for 2025 (2024: none).

There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

Report of the Trustees

Financial review 2024–25

Statement of Trustees’ responsibilities Financial statements 2024–25

Notes to the Notes to the financial financial statements statements

Carers UK Trustees’ Annual Report and Accounts 2024–25

32

Across the UK today 5.8 million people are carers – supporting a loved one who is older, disabled or seriously ill.

Carers UK is here to listen, to give carers expert information and tailored advice. We champion the rights of carers and support them in finding new ways to manage at home, at work, or in their community.

We’re here to make life better for carers.

Carers UK

20 Great Dover Street London SE1 4LX

T 020 7378 4999 | E info@carersuk.org

@carersuk /carersuk /carers-uk @carers_uk @carers_uk /carers-uk

Carers UK is a charity registered in England and Wales (246329) and in Scotland (SC039307) and a company limited by guarantee registered in England and Wales (864097). Registered office 20 Great Dover Street, London SE1 4LX. © Carers UK July 2025. UK4133_0725_TAR

carersuk.org