# _**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** - To promote such other exclusively charitable purposes as the Trustees in their absolute discretion from time to time determine for the benefit of carers and their families and dependants to the extent permitted by each of the laws of England and Wales, Scotland and Northern Ireland as applicable. 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: - To alleviate the conditions of life amongst people who are caring or who have cared for older, ill, disabled, or otherwise infirm persons (hereinafter called “carers”) and who are in, or risk finding themselves in, necessitous circumstances, and of dependants of carers being dependants who are themselves in necessitous circumstances, and for that purpose to promote the material welfare of such carers. ## **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 - To relieve and alleviate, and to advance, promote, encourage and assist in the relief or alleviation of all kinds of mental and physical infirmity, sickness, disablement or illness including mental illness attributable to caring, amongst carers and those persons for whom they are caring. 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. - To advance education concerning caring amongst carers and the public. ## 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: - The charity’s dependence on voluntary income and in particular significant major gifts to fund running costs. To mitigate this risk we have developed a long term income generation strategy to invest in, grow and diversify our income streams to ensure sustainability. We have created a single income generation Directorate bringing Fundraising and Earned Income together. We have also invested in new income generating posts which would be cost neutral in the budget year. - Effective compliance with the Data Protection and Responsible Fundraising regulations and practices including the GDPR regulations. We will continue to review all our policies and procedures and CRM systems, the training of 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. - The information security risk associated with a cyber-attack. - In the year we have continued to make improvements to the general stability and security of our IT systems to ensure secure access. Our cyber security will be reviewed annually, and action will be taken based on recommendations that arise from the review. Data breach identification and reporting procedure exists which enables the Data Protection Advisor to report appropriate breaches to the ICO within 72 hours. - The challenge to recruit and retain high calibre staff is mirrored across all sectors. We have continued to review our recruitment and induction processes to ensure that it continues to remain effective and consistent across the organisation. We have benchmarked our compensation and benefits package. We have reviewed our staff support and review framework. We undertake regular staff surveys and feedback. We continue to review our policies, procedures and guidance. 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** - All income streams are risk assessed, and likelihood is tested against prior year performance and amounts secured to date for the following three financial years. Restricted income is only included in the budget when contracts are signed or are near certain to be renewed. - Expenditure is reviewed annually and a regular review of the top ten suppliers is undertaken. - We have budgeted to achieve a small deficit in 2025-26 on unrestricted income and expenditure reflecting the challenging economic climate. But we remain committed to holding six months of unrestricted reserves, to enable us to continue to meet our commitments to carers with confidence. - We will continue to ensure that restricted expenditure is only committed when funding is approved. - All budgeted restricted income is fully identified. - Budgets and forecasts are actively monitored monthly by the senior management team. There is detailed scrutiny by the Finance and Resources Committee and reports to the Board of financial position every quarter. - Cash flow and secured income analysis form a part of the monthly management accounts which are reviewed by both the charity’s Senior Management Team and the Finance and Resources Committee ahead of it going to the Board. - Our programme of work is approved by the Board at the start of the financial year. Any new activity is subject to a detailed review and is only undertaken if fully funded. - Our business model can be easily scaled up or down subject to funding being secured or renewed. 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). - The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). - The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. 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** - Select suitable accounting policies and then apply them consistently; - Observe the methods and principles in the Charities Statement of Recommended Practice (SORP); - They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 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: - Make judgements and estimates that are reasonable and prudent; - State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements; and - Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. - There is no relevant audit information of which the charitable company’s auditors are unaware; and - The Trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. 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: - give a true and fair view of the state of the charitable company’s affairs as at 31 March 2025, and of its incoming resources and application of resources, including its income and expenditure, for the year 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 Companies Act 2006, the Charities and Trustee Investment (Scotland) Act 2005 and regulation 8 of the Charities Accounts (Scotland) Regulations 2006. ## **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: - the information given in the trustees’ report, which includes the directors’ report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and - the directors’ report included within the trustees’ report has been prepared in accordance with applicable legal requirements. 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: - adequate and proper accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or - the financial statements are not in agreement with the accounting records and returns; or - certain disclosures of trustees’ remuneration specified by law are not made; or - we have not received all the information and explanations we require for our audit; or - the trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemptions in preparing the directors’ report and from the requirement to prepare a strategic report. ## **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: - Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud; - Reviewing minutes of meetings of those charged with governance; - Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the charitable company through enquiry and inspection; - Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;w - Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indication of potential bias. 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: - Costs of raising funds comprise of trading costs and the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it, as well as the cost of any activities with a fundraising purpose. - Expenditure on charitable activities includes the costs of delivering services, exhibitions and other educational activities undertaken to further the purposes of the charity and their associated support costs. - Other expenditure represents those items not falling into any other heading. 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: - Leasehold property 2% and 5% - Fixtures and fittings 20% - Computer equipment 20% 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**