Registsred number: 01499927 Charlty number: 281820 PLYMOUTH AGE CONCERN TRADING AS AGE UK PLYMOUTH (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ? Bishop Fleming PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARApifEE) CONTENTS Page Reforenc• and Admlnl•tr•lfve Detall8 of the Charlty, Its Tru•tees and Advl•frr• Trustse$' Raport Indopendent Audltov•' Report on the Fln•n¢lal Stal•m•nt• 19-22 Slatom•nt of Flnanclal Actlviti•s 23 BalanG• Shoet 24 stal•m•nt of Cash Flow¥ 25 Not•• to th• Fln•nclal Stst•ment• 26-46 PLYMOUTH AGE CONCERN IA COMPANY LINirrED BY GUARANTEEI REFERENCE AND ADMINISTRATIVE DEfAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023 TN8tO08 B Wright, Chair E Bombieri G Easson (resigned 7 July 2022) S Hobb8 M Creek P Burroughs F Thomson (appointed 7 July 2022) N Watt (appointed 7 July 2022, ￿sIgned 7 August 2023) R Nightingale (appointed 1 March 2023) M Potterton (appointed 1 March 20231 R Marinelli {app￿'nted 15 June 20231 Company r•gi•ter•d nurnb•r 01499927 Charlty rngl•ternd numb•r 281820 Regl¥t•r•d offlc• William & Patricia Venton Centre Astor Drive Mount Gould Plymouth Devon PL4 9RD Company •oer•t•ry David Wood Chl•f •xecutiv• offl¢•r David Wood IDdfrp•nd•nt audltorn Bishop Fleming LLP Chartered Accountants Sall Quay House 4 North Ea9t Quay Sutton Harbour Plymouth PL4 OBN Bankers National Westrninster Bank PIC 740 Waterside o￿Ve Aztec West Almondsbury Bristol BS99 5BD Investment advi•or• Close Asset Management Limited 10 Crown Place London EC2A 4FT Page 1 PLYMOUTH AGE CONCERN (A COMPANY LIM￿E0 BY GUARANTEE) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 IAARCH 2023 Inva8tmont adv1￿rn Brewn Dolphin Limited 12 Smithfield Street London EC1A 9BD Page 2 PLYMOUTH AGE CONCERN (A COMPANY LIMtrED BY GUARANTEEI TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2023 The Truslees present their annual report together with the audited financial statements of the Charity for the 1 April 2022 to 31 March 2023. The Annual Report serves the purpose5 Of both a Trustees. report and directors, report under company law. The Trustees confimi that the Annual Report and financial statements of the charitsble company comply with the cuffent statutory requirements, the requirements of the charitable company'g govefning document and the provisions of the Statement of Recommended Practi￿ ISORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS1021 (effective 1 January 20191. SSnce the Charity qualifie8 as small under section 382 of the Companies Act 2008. the Strategic report required of Medium and large companies under the Companios Act 2006 (Strategic Report and Director8, Report) Regulatlons 2013 has been omitted. The Charity also trades under the names Age UK Plymouth. OBJECTIVES AND ACTIVITIES Pollcles and obJectlve• The objects for which the Charty 18 Ostoblished are set out In the Articles of Aggociation and are now embodied in the Ml••lon Statement which reads: 'Age UK Plymouth exists to c8r8 for and work with oldor people and their carers in and around the Clty of Plymouth to improve Iheir qu811ty of Ille through the promotion ol choice. opporiunity and independence,. In settlng objectives 8nd planning for aclivittes, the Tru8tees hav8 given due con¥ideratlon to general guidanGe published by the Charity Commis8ion relatlng to public benefit, IndLbding the guid8n¢e 'Publlc benefrt= running a chanty IP82>'. b. Strateglo• for achlevlng obJectlve• To achieve our Ml••ion, we aim to improve Ihe well being of those In later life by,. Underst8ndlng and responding to Individual needs Enabling independent I￿Ing Delivering excellent seNices Advocacy Bnd Empowerment Working in partnership Using innovative ideas Our Vlslon Love Later Lrfe in Plymouth Our Value• Trusted, Compassionate. Innovative c. Actlvltles undfrrtak•n io achieve objectives The Board of Trustees, the Chief Executrde Officer and the senior management team formally undertak@ review of the Charity's aims objectives and aelivili&s each year. This takes place at 8 Strategy day and the review considers what has been achieved withln the previous 12 months and where the charity aligns itsew ¥￿thin a national and Ioc81 agenda that has older people at the forefront. Given the charity is enhancing current Services and looknng to develop new ¥eT¥iGes it is imperative that this review takes pEace annualty. Page 3 PLYMOUTH AGE CONCERN IA COMPANY LIMITED BY GUARANTEEI TRUSTEES, REPORT (CONTINUED FOR THE YEAR ENDED 31 MARCH 2023 d. Main activllles undertaken to further the Charlty's Purp￿?* for the publlc benefit The Charities Act 2006 introduced the requirement for Charities to show they provide public benefft. The Executive Committee refers to the guidance contained in the Charity Commission's general guidance on public benefit when Teviewing the Charity's aims and oblectives each ye¥r and in planning future activities. The Trustees ¢onsider that the services delivered by the Charity provide a very clearly identifiable benefrt to Its service users, who are older people living in Plymouth and the surrounding area. and that none of that group of citizen¥ is precluded from sharing in those seTvice3 by reason of economic hardship. At every board meeling, Trustees discu¥s the public benefit that Age UK Plymouth 15 providing. The relief of those In need by rea50n of age has been codified as a charitable purpose by the Charities Act 2006. Age UK Plymouth interacts with up to 2,300 older people each month through its services and is therefore playing an e898ntial role within the City and in local communities. The Charity helps older people lo malntain thèir independence, enhance theSr qualrty of Ilfe, make informed choices and realise their rightg. Every dient is special and 8 client centred approach is tsken throughout th8 arity. The Charity ha5 a mix of clienls. many pay fees for the 8ervlce$ provided whllsl oth8r recéive gUPPOrt from Plymouth City Councll or Ihe NHS. Age UK Plymouth also provides many services whlch are free St the point of delivery a crucial one being the Information and Advice Se￿iCe which assists older peopl8 to remain in control and able to make informed Choices on i88ues Ihat may affect their Independence, financi81 health and wellbeing. In addition, the Charity provides free Dementia Awareness training and has a Wellbeing Hub that encourage8 tho¥e in the loc81 ujmmunity to drop in for individual advice and support. The Charlty also introduced free seNlces in re8ponse to the Coronavirus Covid 19 p3ndemic and many of these such a8 Befriending and Phone Friends have continued and are now part of the core offer. Diversity and equal access lo Age UK Plyrnouth ¥eNices are very important issues for the Charty and s61yice planning always tskes account ol any under r8presented group8. HOW WE MAKE A DIFFERENCE FOR OUR CLIENTS... Day Cantr• "I think the ¥laff are absolutely excellent for wh3t they do and Il'g not just the Staff it's the fact that everybody, well It's a comradery, we're like one happy family they make you feel at ease straighl away. Before, l used to be like a herrnit stuck in my bedroom for nearty 10 year8 and ever since I've been coming here I've been 8 101 better and the 9taff have IlteralSy bent over backwards lo help me. It's done me a heck of a lot of good, literally. Il's literally brought me out of my shell and I would mis¥ this place. I missed it last week when I was in hospital. I literally missed Ihis place. l ￿allY did. I'd be lost without it, I really would" "I know this place has changed my life. It has 9aved rne from a life that I wa8 not enjoying. I look forward to coming in and the staff are just vffjnderful, so caring 8nd so thoughtful and kind" "I don't think I would still be here If it wasn't for the ¥tsff in this building. They make me smlle and being here is the best part of my week. I have made new friends an(i I feel part of something rather than sitting at home v￿tchIng the TV anfl t8lking to nobody. Thank you" "I wish I could come to this Day Centre every day and I mean ￿￿ekendS too. l am always so disappointed when I wake up and ￿9119e it is not a day when I will come in and meet the smiling, happy and vMnderful people that look after me so well. The food is always wonderful and l think l always have a clean platel. "My daughter gol me back here. l used lo come here years ago but we didn't do anything like this, it was all different. But I do enjoy coming, I come three Ilmes a week on Mondays, Wednesdays and Fridays. I think they're wonderful, everybody, even in the office... they do watch over us all the time. Page 4 PLYMOUTH AGE CONCERN IA COMPANY LIMITED BY GUARANTEEI TRUSTEES. REPORT {COTrtllNUED) FOR THE YEAR ENDED 31 MARCH 2023 Dementia Day Centre 'He is sometimes apprehensive about coming in but as soon as he is her8 he flips and is dancing and smiling. The staff here are absolutely fantsstic. He loves being here 8nd there is a sense of family here, like an extended family he can be part of. I can't Speak highky enough about the place. "It gives his wife the chance to have a break, a valuable 8 hours to have a breather. It rnakes such difference not jU8t to him bul to her as well. The staff are a￿ayS putting on activilies that he loves. 'One of the staff member¥ is such a gentleman. he really is. I like him, everyone really like¥ him. He rnak•s 8uch a difference. I didn't do much before I came here and I really like it here. Jolly Elder• Club "The club is a real-life saver providlng company, fun and laughter vh)ich lasts for days. l especially enjoy the activitie$ but wsh I w85 quick enough to keep up Wbth the exeTcise8 etc to music. People are so friendty and helpful. I have a great time and always look forward to coming lo thi8 gTOUP.° .1 do enjoy coming to the Frid8y group as irs made me feel better about myself, meeting new p8oplo of all ages. I'M having fun, good conversations and pl8ying games. I look forward to going ther8 every week. I a￿ayS thought these sorts of dub8 wore not for me but I have now changed my mind. All the ladles vtho Attend the dub are 80 friendly" Infom)atlon And Advlce Yhank you for the help you gave m8 to fill In the forms for Attendance Allowanc8 and Blue Badge. I have been successful wilh both and thls VAII enable me to have better quality of life. So I can't thank you enough for a51 you did. 'On behalf of my molher I would like to say thank you for all your help regarding her Attendance Allowance and Blue Badge application. She has been awarded the higher r8te of and we are still waiting lo hear the outcome of the BB. Thank you 80 much again" 'Many thanks for your very helpful advice and as8i8tsn¢e. You are highly recommended for us eld8dy people. We are lucky to have Ago UK In Plymouth. 'Since speaking to you about an applScation for Attendance Allowance in late February, l am happy to tell you my application has been suwes8ful. It was a wonderful surprise to receive 8 payment into my ban .1 would like to say Ihank you and your leam for all the help you have been given me in claiming Attend8nce Alowance, I have been grante(1 £68 plweek which without your gu￿lance I would never applied. Thank you once again" Help at Home "I would like lo give feedback on a staff member who was incredibly engaging and supportive to an older lady she wa5 SUPPOrting at the Royal William Yard late this morning. The support worker was extremely patient, lowng. friendly and kind - which was so heartfett and great to see. I wa5 sat next to her with my puppy and I via8 emotional listening in" Your staff member has transformed my garden from an overgrovm area with Ivy to a beautrful planted open space. He took me to Plants Gal0￿ to buy bulbs and shrubs to enhance my garden. l am deluhted with the area .1 am thrilled with the work of your staff member 8nd she Is having a real impact on kmjth myself and my husband'5 lives. It makes such a difference. Page 5 PLYMOUTH AGE CONCERN (A COMPANY LIMttED BY GUARANTEEI TRUSTEES. REPORT (CONTINUED FOR THE YEAR ENDED 31 MARCH 2023 Dlscharye Yhank you so much for helping me with my housework and for tsknng m8 Out. I have looked fopth¥aTd to It every week. You are a lovely kind empathetlc lady with a wonderful sense of humour and I have enjoyed the lun whilst I have gained strength" We are very grateful for your help and kindnes5. You came along when we needed someone to sort out the cha05 and you did. We would hav8 Struggled wthout the sUPPOrt of Age UK Plymouth. We are fortunate to have you all so nearby. "Thank you for all the 8upport you provided aft8r my husband's oper8tlon. You aided u8 In the very best way you could and l am very grateful for all your support. We are now in a much better place but we gol Ihere with your generoslty and support" OUR CLIENTS ArrENDING EVENTS IN OUR DINING ROOM "I'm 80 years old and I've worked 811 my lrfe. I live on my own because I've been a widow for 20 ye8rs. And I 1Sve locally 50 It's not far for me to come but I know I would h8ve help if I needed some lo get here and since then I've never looked back. Everybody is 80 kind, they have so much information to give. if you need help vlth ben8fits or thlngs like that they can help you. And you can Slay for lunches. they lay on lovely dancing thlng5 and relaxing thing8 for people and really kx)k after everyone extremely well up here and ti'8 a pleasure to come" "I have struggled with 8nxiety and wory about being in large groups. I found it difflcult at first bul I now look forward to coming along to the Veterans Sticky Bun moming and my mental health has been given a boost. I lave the amount of food I can eat 88 well. 'The food 18 always so lovely. It 18 always just 80 perfect and it Is my only meal of the day and that Is important. Eating here is making a huge dlfferenG8 to me and I feel l am puttlng on weightl l am lold that ig good thing by my farnily" How wo makg a differenc8 for our voluntser•... °There are many thlngs that I bve about being a volunteer at Age UK Plymouth but the one thSng that stands out most for me is being able lo connect & build 8 bond wth the cllent'8, putting a 8mlle on their face8 and making their time spent in our car8 the begt it can be" 'It brings go much pleasure and joy. The tearn in the Day Centre are the best they've ever been. M8ke8 me feel valued even though l arn not as mobile or energetic anymore "What I like best is when a now client neTvousty joins us for thelr first one-hour gession, telling me they feel little scared of IT but within 15 minutes are laughing at how much they ar8 leaming reali5ing and making mi8takes actually doesn't break Ihe thing. They can't wati for next week for thelr next lesson even though I give them homeworkl" "Feeling included and a valuable member of a 'family" "l enjoy Working as a team with the Dementia Day Centre staff at Plymstock and meeting and Chatting to lovely clients" Mhat I like about volunteering with AGE UK Plymouth is the happine55 that I bring to rny phone friends" Page 6 PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEEI TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 Achievements and Perfomiance Review of a¢tlvltles S•rvic•s and Support lai Infomiation and Advice. This seNice offers Infomation and advlce on 8 wide range of matters Includlng social care. welfare benefits, and legal matters. The Information and Advtce service had 8.037 contacts wth the local community and this was an increase of 60°/o on the previous year. Of these client8, 1,544 were new clients and this Is an increage of 33% on 21-22.. 64318%) were underthe age of65 1125114%) were aged 65-74 1447118Uk) weie aged 75-84 964 (12%) were aged 85-95 3,858 {48°h} age de18ils not recorded The InformatSon and Advice seNlce generated £2,971,196 in benefit income for older people auoss the City. Thls is an incredible increase of 177% on last year when the figure was £1,073,000. In particular we supported, 1,507 client8 to the value of £427,479 with their Household Support Fund. Th858 figures ghow the Immenge value of the Infomiation and Advice servi¢e to the people of Plymouth. 24.164 information and 8dvice leaflet5 were distributed lo IndivSduals. groups and professionals throughout Plymouth. The Age UK National Information Line received 5,212 calls from older people living In P￿rnouth. These callers were all given detsils about Age UK Plyrnoulh and how to contact. Ib) Help •t Hom• and Communlty Support The Help at Home and Community Support service offerg 8n e88entlal p8r8on-centred hlgh-quality and flexible Service to people aged 50 and over, living in and around the Cty of Plymouth. This service is tailored to people's Individual needs and includes ghopping, cleaning. 8S8lsted trips, gardening, companionship and much more. The Community Support Assistants play a vital role a¥¥isting those who need 8d(liliono1 support enabling many to continue to liva happily in their own home8 whilst improving their confidence and general wellb8ing. The Help at Home and Community Support gervic8 in nurnerical terms supported 1,067 older people to continue living in their own horne, maximlging their independence, whilst helping with the aclivtties of daily living. The team provided an 8Stonishing 23,799 support hours lo older people during the year. It Is an absolutely vitsl service and a life Ilne to 80 many people living alone in the City. Icl Day Care l Day Opportunitigj For older people who need indiwdual 2ddrt￿nal care and support, the Charity offers an oulst8nding day care provision. The William and Patricia Venton Day Centre operates 4 days a week and provides day care and day opportunities for older people, who may be physically frail, have become socially i5018ted or simply want to benefrt from peer group 8UPPOrt. The atmosphere within the Day Centre 15 always positive and 8 number of wonderful volunteers of all ages and backgrounds provide additional support. Providing this level of day care enables carers the time and the opportunty to have some free time or respite and allows thern to focus their endeavours elsewhere. Page 7 PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 The Day Centre offers a range of events. activilles, $ingalong5, competitions, quizzes and more all ge8red towards stimulating the mind and body and improving Ihe wellbeing and mental health of those attending. There 1$ a three-course quality and freshly cooked meal Provided every day and clients eat this in a newly relurbish8d dining room. As well as 8 variety of activities available within the service. client5 and their carars can choose from a menu of social. leisure and leaming opportunities to meet their identified abilities and preferences. Seplice us&rs are regularly consulted on the quality of Servi￿ and the proposed programme of activities via Se￿iCe user forums and service user questionnaires. Feedback is 80 important. During 2022123, there were 2,226 attendances gt the Willlam & Patricia Venlon Day Centre. This was a 31 % increase on last year and this level of grovAh 18 an indicator of the need and quality of th8 8enJice providod. (d> Domentlo Day Contre The Dement18 Day Centre is based in the William Venton Centre in Plymstock and provide$ a range of specialist dementia service5 and activitie¥ for people over the age of 50 who have memory loss, cognitive impairment and demenlia. The alrnosphere within the Dementia Day Centre is always buoyant and a number of wonderful volunteers of 811 ages and backgrounds provide addition81 necessary support. Providing this level of dementia day care enable$ carers the tirne and the opportunity lo have some free lime or respite and allows them lo focus their endeavours elsewhere. The Dementia Day Centre has bolh the client and the carer at the heart of the $ervic8 and operates fiv6 days per week. There 18 8 high quality tM+O cour88 freshly Cooked meal provided every day and individual preferences are easily calered for. There are a variety of activitie8 available within this serrfice and dients can benefit from a menu of social, leisure and learning opportunities to meet their identlfied 8bililies and preferen¢es. Carers are regularly consulted on the quality of service and the proposed programme of activities via service user forums and 88rvice user questionnaire$. The Dernentia Day Centre provides a level of excellence that meelg the needs of the clients, bul equally provides much needed respite for th8lT C8rer$. The relationships belween staff, volunteers and the clients and theii carers is first class. During 2022123 there were 2.918 attendances at the Dementia Dgy Centre. Thls 18 8 17% Increase on la8t ye3r and is a great indicator of the need and tha demand for the servica. (el Short-T•rm Caro Centre The Short-Term Care Centre (STCC) opened for the first tim8 in 2022123 and it has acted as 8 catalyst enabling 8 great deal of effective 3ervice development lo lake place throughout the year. Age UK Ptymouth worked in partnership wlth Ptymouth City Council and Ihe NHS Devon Clinical Commissioning Group to refurbish the upper two flcKJrs of Ihe Wlliam and Palrlcia Venton Centre. Plymouth City Council invested In exress of £600,000 and Age UK Plymouth over £300,000. It has mad6 an enorrnous difference to the flow of patients from hospital to home throughout the City and il ha5 been lauded for its effectivenegs and irnpa￿. It ha5 been an excellent development and the STCC helps people recover from illne53 8nd reduce5 the time spent in hospital to the benefit of the individual and others needing hospital treatment. The STCC is being operated in partnership with Livewell Southwest and has 24 en-suite bedrooms providing a safe place for patients to stay after they have been in hospital. This could be foT anylhing up to four weeks and the aim is that when people leave the STCC they are feeling much better 8nd ready to go home and to live as independently as possible. Age UK Plymoulh provides all the catering requirements within the STCC and this includes. breakfast, dinner and an evening provision. The Charity also works seamlessly with Livewell Southwesl providing a housekeeping and maintenanGe service that ensures that the daity needs of patients a￿ met in the most constructive and joined up mannei. In 2022123, 436 patients Stayed in the STCC. The average stay was 20 days and 201 of these patients left with no or minimal care. This is an extremely positive outcome. 41 patients which is less than 10% needed readmission to hospital either direct from the STCC or at 8 later stage from home. Page 8 PLYMOUTH AGE CONCERN IA COMPANY LIM￿ED BY GUARANTEE TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 (fj DisGharye Support Th8 advent of the STCC has acted as a catalyst for change and for providing the opportunity to dellver new ¥ervices. As from March 2022, Age UK Plymouth stsrted to provlde 9UPPOrt to pstients being discharged from the STCC, from Mount Gould and in June from Derriford Hospital. The support the Gharily providers is person Centred and is tailored to meet the needs of the individual patient. Age UK Plymouth supports patients who Ilve wilhin the City of Plymouth being discharged on erlher pathway O or p8thway 1. The service includes shopping, deaning. simple food preparation picking up prescriptions. confidence building, benefrts check, the opening of mail, companionship and much more. It hag become ¥uch an important component of th8 discharge provision 8cr058 the City and has quickly become one of the most crucial services provided by Age UK Plymouth. In the year ended March 3181 2023 Age UK Plymouth provided packages of care lo 380 patients belng discharged from the STCC, Mount Gould or Oerrlford Hospital. This equates to 4,560 hours of support enabling a smoother transition home and a reduclion in the pressure exerted on NHS 8er¥i¢es across the City. The support provided to those in need cannot be und8re81im8ted. lg) Demontlo Awar•no•s Training In 2022123 the Charity continued to offer free training and information on demenlia and dellvered Dementia Awar8n853 8e¥sion8 and Dementia Friends tr3ining. The overall objective is the determlnation to make Plymouth a dement18 friendly city by engaging wth schools, universities, the priv8te sector 8nd the public sector lo enhanc8 the underst8nding of the impact that dementia has not lust on the Individual concerned but also on lamily, frlends and colleagues, staff at Plymouth City Councll, Unlver8ity Hospllals Plymouth, City College Plymouth, Livewell SouthY￿St, Care Homeg. the FSre SeNice. 8chool3, college8. vlsitor attractions and the corpryate sector have all benefitted from the free training provided. Ihl V•ter•n• Support Age UK Plymouth has been fortun8te to have received finanGi81 support from the Armed Forces Covenant Trust 8nd this year Introduced a ¢ouns8lling and wellbeing 8UPPOrt service for Veterans over the age of 50 INing or working in Plymouth. This free and friendly 5eNice has been provided to help Veterans access the support they requlre lo build and maintain good mental hearth. The Charity Saw 1,839 Veter8nB attendances acros5 the year with 1,121 attending 'Sticky Bun mornings on a Tuesday. In addition, 457 Veterans attended the weekend brunches and 233 becarne involved wllh the walking football Se￿iCe. The development of our Velerans services h89 been inGredibly welcome and has exceeded original expect8tlons. The Charlty has received enormous support from those attending. (11 Wellbolng Hub The Wellbelng Hub continues to develop and prosper and as part of Plymouth's integrated thryder nelwork of Wellbeing Hubs, all supported by Plymouth City Council. The Wellbeing Hub has an 8geing well focus and promotes adivities, workshops 8nd evenls including a Friday "Communty Cuppa. session that is well supported and vital to 80 many from a companionship perspecllve. As well as having a dedicated IT, befriending and phone friends Service the Wellbeing Hub provides an outrea¢h into the most at need areas of Plymouth, campaions to iaise awarene88 of loneliness. promotes and signpostg older people to local available sep4ices. The Wellbeing Hub a150 provides advice ¥￿th managing long tem heafth conditions through a partnership wth Livewell Southwest that enables drop in sessions to be made available in the community. Page 9 PLYMOUTH AGE CONCERN (A COMPANY LIMrfED BY GUARANTEE) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 Ul Volunteerlng Age UK Plymouth began its work in 1942 as a Chaiity which was operated entirely by volunteers. Today the support of volunteers remains uucial to the Charity's contlnued success. The Charity provides 8 Volunteer Service which offers a variety of rewarding opportunitie9 to people of all ages. Volunteers gain new skills and experience, and the Charty and the clients benefrt from their involvement in our service provision. Our volunteer seTvice also provides excellent opportunities for those people seeking practical experience to prepaTe Ihem for job Seeking or as practice placement as part of their academic study. The Charity also supports young people of school age with work experience and intergenerational activities and the cSi8nt8 really do eng8ge in a manner that adds 80 much value to the overall volunteering experience. At the end of March 2023. the charity had 53 Tegistered volunt88r8 who Contributed 9,117 hours of volunteeT support. Thls doe9 not include corporate volunteers who have supported the charity throughout Ihe year on range of activitie8 including the upgrade of our garden at the Wlliam and Patriua Venton Centre. (k) Infomiation, Educatlon and Talks Presentations and talks are provided to voluntary groups, local businesses, locol health providers and commissioners. schools, ¢ollege8 and UniVe￿itieS throughout the year by our experienced and knowledgeable staffing tearn. As a result of learnings from the coronawru8 pandemic many of these events take place on Zoom or Teams although face to face presentstiong do have more impact. 11) External R•latlon*hlp• The Charity contlnues to work to develop mutually benefiaal relationships end partnarshlps In Plymouth and beyond. The Charty has malnlalned and developed clo88 worklng and very effective relationshlps with Plymoulh Cty Council, bolh at officer and member level. Thi3 is mirrored by regular contact with the city's two Member5 of Parliament. In addition, the Charity has excellent relationships with the NHS Gornmissioners. These close and effective working relationships have become increasingly apparent 8ince we opened the 5hort-temi care centre al our Wlliam and Patricia Venton Centre. Age UK Plymouth was responsible for encouraging voluntary sector COOTdinated approach to 8UPPOrting older people through the coronaviN8 pandemic and whilst Age UK Plymouth was the catslyst for Ihls, Plymouth C'rty Council coordlnated the meetings of the voluntary sector. These meelings continue and this is of benefit to the VCSE sector and the local community. Age UK Plymouth places high importance upon working with and learning from other voluntary and community sector organlsalions in the city- This has seen the Charity in contact wth Improving Lives Plymouth. Mernory Matters, Elder Tree, Zebra. Tha Wolsey Trust and many more. Age UK Plymouth works in association with the thirteen other Age UKS in the South West, and retains a good working relationship with Age UK at a national level. The Charity smoothty went Ihrough Age UK'S Charlty Quality Standards Audil in 2022123 and thig resulted in Age UK Plyrnouth being awarded the Charity Qualty standards Certificate. Page 10 PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEEI TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 b. Equal opportunitie8 and filr accoss 8tat¢ment Age UK Ptymouth is completely opposed to all forms of unlawful and unfair di5crimlnation and is committed lo ensuring that no person (employee, volunteer, service user or other) wll be trealed unfairly by the Chaiity because of 8 protected characteristic.. Disability Gendgr reassignment Marriage or civil p8rtneT5hip Pregnancy or maternty Race Religlon and belief Sex Sexual orientalion Our commltment lo equality and dlvergity Is18ld down in the Charity's Equality and Diversrty Policy. . Safoguardlng of adult's •tatomont Age UK Plymouth will not toler8t8 any form of abu80 and b81ieves that all older people should be able to IN8 in an environment which is safe from abuse. The Charity wlll ensure that individual right5 and organl$ational values are promoted and upheld in their work with older people. Any allegations OT suspicion of abuse will b8 reported and invesligaled. In order to Safeguafd adults at risk of harm who use the Charity's gervices, robust, Safe recruitment procedures will be carried out in relat￿n to all ¥tsff and volunteers according to the ChaTIty' Safeguarding of AdU￿S Pollcy. The Charrty also has a formal written policy for the safeguarding of children. The Charity's Safely, Quality, Sepii¢e$ Cornmittee meet8 regularly and this group Gomprise8 trusteeg and senior staff members. FINANCIAL REVIEW . Golng concern The TfU8lees have 8 reasonable expectation that the Ch81ity has adequate resources to contlnue in operational existence for the foreseeable future. For this reason, they continue to adopt the Going Concem basis in preparing the financial statements. Further details reg8fding the adoption of the Going Concern basis n be found in the accounting policies. It is Ihe intention of the trustees Ihat the Going Concern accounling policy wll be used by the Charity going forward. The Charity m8de a1085 of £352,308 over the year and it ha8 been a challenging trading period ￿th more clients requiring support through the cost of living crisis. The Charity has expanded and income has grown dramatically. by 99.5010 on the previous year. Expenditure has grown less and by 90.70A. The increasing volume of activty is seen as a hugely positive development as Age UK Plymouth embeds itself further in the City. Net current a8881s have increased from £179,767 to £281,942 and this Is 8 welcome development. tt is noted that the cost of charitable 8Ctlvities exceeds the incorne from such charitable activities and the trustee$ 8re aware of the need to enhance the flow of unrestricted income. This is 8 high priority for the Charity. Slaffing costs have increased significantly but at a much lower rate than the corresponding in¢rea8e in income levels and this is a positive indicator. The Charity ha¥ been 1055 making in previous years and whilst facing and dealing wlth a number of challenges has been forecasting fvture deficits. Many of these challenges have now been addressed 8nd the Trustees believe that the charity is maknng significant progress in financial terms whilst also supporting a growing number of older people bmthin the city of Plymouth. The level of service developmenl has been exceptional. Page 11 PLYMOUTH AGE CONCERN (A COMPANY LIM￿ED BY GUARANTEE) TRUSTEES. REPORT {CONTINUED FOR THE YEAR ENDED 31 MARCH 2023 The Trustees have been delvjhted by the impact made by the very experienced Chief Executive Officer Ytho was appointed in May 2021. He has StTengthened the senior management team, raised morale and significantly enhanced relationships wth key stakeholderg further embedding the Charity in the City and wthin local communities. The opening in May 2022 of the Short-TeTm Care Centre on the top ttvo floors of the William and PatTicia Venton Centre has made an enormous dlfference to the Charity, strengthening its income base, enhancing its current services and being the catatyst that has allowed new services, 3ueh as discharge support, to be introduced. The development of the Short-Term Care Centre is part of a longer-term plan that 15 already enBuring that Age UK Plymouth has a higher profile locally, is more aligned with key st8keholdeT9, is SUPPQrting more older people in need and through an enhanced fundraising focus more engaged with the corporate sector. The senior management team and the Finance and Investment Committee ￿11 contlnue to 5crulinige and monitor performance and cashflow on an ongoing basis. There is an awareness that the Charity has significant investments that could be realised to support any ca8hflow Issues that rnay be faced in a difficult troding period. The ChaTlty is expecting to make a loss in the year ending 3111 March 2024 before returning lo a surplu8 the following financial year. Current 9ervice8 are being enhanced and new seniices are in the proc888 of being adopted vthh the exp8ctstion of Improving financlal performance. The Finance and Investment Committee meets quarterly and reviews the performancè of the Charity. Th8 Trustees b81ieve that the Charity has made substsnlial progre88 in 2023 and that it 18 operatlng a¢r088 its seTvice$ at a significantly higher level than in previous y8ar8. In addition, the trustees are delighted with the progress made in both Day Cenlres. Ihe development of new services such as Discharge Support and Ihe increasingly 3uccessfvl Infonnalion and Advice servic8. The Irustees have every expect8tion Ihal Age UK Plymouth will continue to support even more client8 In future years and believe that the Charfty 18 In a very 8trong and envi8ble p051tion. b. Ro•ervo• pollcy The Charity needs to hokl reserves for the following prinGip81 reasons.. To produce incorne to b6 used for funding such deficits as arise from the CharRy's operalionB- To meet any deficrts not coveTed by income in any one year., To meet major rtemg of unforegeen expenditure., To meet the costs of necessary building refurbishrnent, repairs and renewals,. To enable the Charty to continue itg core operatlons for a period of at least Six months, even in the event of major withdrawal of extemal fvnding. The Charity wll therefore endeavour to maintain a level of reserves appropriate to the financial climate in which it is operating, with particular reference to potential major financlal ri8ks18uch as loss ol funding) and Ihe charity's commitment to the many people it serves. The Charity recognises that investments held within its unre5trided funds are technically availab18 to be spent on the general purposes of the Chartty but recognises also that Ihe usage of Ihe investments in this rn8nner would corre8pondingly reduce their income eaming capacity. The Charity con¥iderg that tt8 present level of free reserves salisfies the criteria set out above, and no action is deemed lo be necessary at the present lime to change these levels. The Charity will r8view both the level of its reserves and Its policy on reserves bi-annually. Page 12 PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEEI TRUSTEES, REPORT ICONnNUEDI FOR THE YEAR ENDED 31 MARCH 2023 . Matgri41 Invtttments pollcy The Charity has a formal Investment policy in place (TR 003) which is reviewed periodicalty by the Executive Commitiee. The Inv881men15 are held a5 a long term reseNe 8g8inst any fvture shortfall in income against expenditure. Age UK Plymouth's investment objectiv8 is to maintain and, if po55ible, enhance Ihe real value of the reserves repr88ented by Its investments Age UK Plymouth requires an income in order to fvlfil its charitable purpose5. This income should be consistent with market conditions. Age UK Plymouth aim¥ to achieve the best financial retum within Ihe level of rlsk consid8red to be acceptable. d. Ethlcal Inve•tm•nt The Charity ￿11 not knowingty invest in a company or produGt whith will have a detrlmenlal effect on the health or pot8ntial wellbeing of older people. The Charity wll not directly inve8t In tobacco industrles. •. Prlnclpal fundlng The Charfty's principal fvnding sources are.. Statutory authority fundlng for block contracts for our Day Centre8 and Discharge Servlce Grant5, donations, legacies and fundraising activitles Fees and charges for Ihe services the charity provldes to clients and to the Short-Terni Care Centre Investment income Charge5 are mad6 for each of the Char6ty's main se￿￿CeS Day Care. Dementia Day Care and Help 8t Home. These are rewawed annually to reflect rlsing costs. whilst considering the Charity's elh08 and corn valueg. Investrnenl Income arise5 from the Charfty's investrnent portfollos. All investments are held in securtties quoted on the London Stock Exchange, and each of the Iwo major portfolios Bre managed on a discretionary basis by Iwo different investment managers, who nomally meet with the Flnance and Investment Committee of the Charity on an annual b8818. All income Irom investments, together wlth Intere8t on cash deposits, is used towards meeting the costs of providing services. f. R&vlew of 2022-2023 The Statement of Financial Activities shows the Incoming Resource9 of the Charty, Resources Expended during the year. the various transfers betrRen Fund5 8nd the Fund balances at the year and. Incoming resources in total amounted to £2,124,991 which 18 1,059,827 more than the previou5 year. This Is an incredibly encouraging development. Resources expended amounted to £2,396.148 which is £1.139,667 more than the previous year and refiects the increased level of activity across the charily. The net inrnming resources after also adding 1055es on investments of £81,151 {2022= gain of 160.694) were a loss of £352,30812022.'10ss of £30,623)- Page 13 PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARAwfEEI TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 The figures are affecled by th8 C05t of living crisis thal is impacting across the country for Individua15, families, communilles, trusts, foundations and the corpor8te sector. The cost of liwng crisis and an ageing population operating in tandem means there is an increasing need to support older people locally. It is a challenging climate to operate within. Resources expended break down into 98.13% spent on the direct provision of Charitable Activities,1.87% on Costs on Generating Fund8. The Balance Sheet as at 31 Mar¢h 2023 shows Ihat the Net Assels of the Charlty have decreased by £352,308 to £2,877,679 rellecting the Items detailed above. All of the as88ts of the Charty arts hold for the purpose of the provi8Ion of 118 servic85. The movements in fixed a55et5 during the year are set out in note 14 to the financial statements. The tangible fixed assets figure of £1,143.055 represent the written down value of the buildings, vehicles, furniture and equlpment owned or 1888ed by the Ch8TIty. The Investmen1$ of £1,272,682 ara held for the purposes of providing income to defray the expen8es of the Charity'9 services. Interest on cash 8nd bank deposits is used for the ￿me purpose. Al inve8tments have been acquired in accoldan￿ with the powers Gont8ined in the Articleg of As￿￿?tIon. The position of the Endowmenl Funds, Reslricled Funds and Unrestricted Funds as al 318t March 2023, reflects the operation of the Heads of Agreement and the funds reloased under SeGtion 282 Charities Act, as Set out in note 19 to the Account8. STRUCTURE, GOVERNANCE AND MANAGEMENT . Con•lltutlon Age UK Plyrnouth is registered as Plymouth Age Con¢em, a Charlty (No. 28182018nd 8 Company LlmSted by guarantee (No. 1499927). The Charity was incorporated as a Company on 4th June 1980. The ch8r.ty is governed by its Article8 of As50¢iation dated 28 September 2011. In the event of the Charity being wound up, Members are required to contribute an amount not exceeding £1.00. Trustees will ensure that the Charity makes us8 of the Self-Asse58ment Form that ig contained MAthin the Chal￿ Governance Code as part of its commitment to good and improved governance. b. M•thod$ of appolnlm•nt or electlon of Trustee• All the powers of the Charity are vested in the Executive Committee, whlch is regponsible for Ihe proper management of the Charity. For the purp09es of Ihe Charotles Act 2006, the Members of the Executive Committee are the Trustees of Ihe Charity., for Ihe PUTpose5 of the Companles Act 2006, the Members of the Executive Committee are also the Directors of the Company. The Executive Committee must conslst of between 5 and 15 members, who may onby be appointed from amongst the membership of the Charity. The direclors of the company are also charity trustees for the purp05e3 of charity law and under the company's Artldes are known as members of the Executive Committee. There were g Trustees on the Executive Committee of Age UK Plymouth as at 31 March 2023. The Artides of Association set out the onditions under which trustees are appointed and descrlbe the election PrO￿5s. 'The Trustees vthen complete consist of at least five and not rnore than 15 persons who being individuals are over the age of 18, all ofwhom must 5UPPOrt the Objects, be a Member and have signed a written dedaration of willingness to act as a charty trustee of the Charity- If any Trustee is a corporate body it must act Ihrough a named representstive vthose contact details are notlfied to the Trustees and there must be at 18a5t one individual Trustee"120.1). Page 14 PLYMOUTH AGE CONCERN IA COMPANY LlhllTED BY GUARANTEE) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Tru51ees are elected by the Members or co opted by the Trustees (20.2). The Charity may by ordinary resoluts.on appoint 8 person who is willing to act to be a Twslee and detemiine the rotation in which any additional Trustees are to retire {20.31. The TfUSlee$ may at any time co opt any individual who is eligible (20.11 as a TNstee to fill a vacancy in their number or (subject to the maximum number pemiitted by Article 20.11 as an additional Trustee.. (20.4). The Executive Cornrnittee recognise$ the importance of maintaining the balanca of skills and professional backgrounds and seeks lo ensure that awareness of the needs of oldeT peopte in Plymouth and the best interests of Ihe Charity is reflected in the makeup of the trustee body. This is 8¢hieved through formal recruitment and selection processes which tske account of the speciflc trustee skills required. The Charity also ensure8 that the recruitment proress takes full account of equ81ty and dfverslty and that the Trust88 Board refleGts the community in ￿lch it seryes. All members of the Executive Committ8e give their time voluntarily and receive no benefits from the Charity. The Board of Trugt888 Gan also appoint honorary officers from amongst it8 members (Presrdent and Vice President) and are also r88pon¥ible for nominating the Charity's Patron(81. c. OrganlJatlon•l •tru¢tur• and do¢i•ion maklng pollcl•• The Executlve Committ88 have overall respon8ibilty for the governance of the Charity. It meet8 at least four time5 a year and Is supported by the Finance and Investment Committee and the se￿iCe8, Quallty, Safety Committeo. All Commlttees are Comprised of members of the Executive Commlttee. The Chief ExecutNe Officer leads the Senior Management Team in the day to day management of the Charity, working withln the fin8nd81 framework, procedures and policies laid down by Ihe ExecutNe Committee. Each main area of the Charity'8 work is headed by an 8ppropriately Irained member of 8t8fflmanager vtho, In turn, ig responslble to the Senior Management Team. As at 318t March 2023 the Charty employod 105 paid Staff, of which 25 were full time employ885, 80 were p8rt tlme. together with 53 registered volunteers. The CharKy PTepare$ an Annual Plan and Budget each year, and its operation, expenditure and income are revlewed regularly to rnonrtor compliance or otheN8e. d. Policles adopted for the InductSon and tralnlng of Tru•ieo4 The Charity aims to en¥ure that everyone interegted in standlng as a Tru51e8 is fully informed of what the role involveg and this is reflected in the recruitment and induction process. New Trustees attend an induction session at the Charity'g head offKe and at the Wlliam Venton Centre and are also offe￿d 8 guided tour of all Charity services by the Chair andlor the Chlef Exocutlve Officer. The induction gegsion Indudes: An overview of the organisation. its cuKure and values The obligations and duties of the Executive Committee Members {collectively and individually) The key documents which set out the operational framework for the Charity induding the Articles of Association, the last audited a￿o￿nIS and annu31 review. Future plans and obiectsves Meeting the Heads of all Departments and visits to the Day Centre. Dementi8 Day Cenlre and Short- Term Care Centre Page 15 PLYMOUTH AGE CONCERN IA COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 AJI new Trustees recelve 8 comprehensive Induction pack which includes a trustee handbook, infomiation relating lo the above and information from the Charity Commission on the responsibilities of Trustees. Trustees algo attend training courses and legal seminars to maintain and enhance their charity law knO￿adge. o. Related party relationships Age UK Plymouth Iregist8red as Plymouth Age Concem) is an Independent charlty, atthough K is a Brand Partner of Age UK the Notion81 Charity and a member of the Age England Association. The Chadty has one vtholly owned subsidiary company 'Plyrnouth 50+ Ltd, which 1$ currentSy 8 dom)ant ccmpany. f. Finan¢lal rl$k manag?m?nt The Executive Committee have over811 responslbilty for ensurfng that the Charity has an appropriate system of controls, including financial rontrol8. The Charity'g systems of Internal control are designed lo provide rea8onabl8 assurance againgl material finanu811085 to the Charty. A lom81 risk management regisler and action plan 18 In pl8ce across the charity. vthich18 reviewed and tested bl-8nnually. Risks are a180 mitigated through policies and procedures covering 911 8r888 of operational practlce. The Flnance ané Investment Committ68 oversees the work on risk management, reviewing the risk regi¥ter, and making recommendations to the Executive Committee when appropriate. The Chief Execulive Offlcer presents the risk regisler to the Executive Committee at every meeling. PLANS FOR FUTURE PERIODS The Chief Executive Officer 18 worklng closely wlth the tru5t8e8 and the senior management team to ensure Ihat Ihe charity beneftls from the enormous progres¥ made in the last Iwo y88rs. The development of the Short-Term Care Centre has already acted as a Catalyst that Is enabling existing $eNic8s lo be enhanced and new services Buch as di8charge support to be fine-tuned and developed. Age UK Plymouth will provide further servi¢es and in 2024 should 8tart operating its own Cornmunty Meals service. The Chief Ex8culive Officer and the senior management team will continue to work closety with the Iruslees on servic8 development and brand value opportunities. A senior management away d8y and a trustee's ¥tr8tegy day will look to add more value and focus operational ambitions in a cohesive and aligned manner. Age UK Plymouth wlll in the 2024-2026 Buslness Plan set ambitiOU5 but deliverable financial end operational tsrgets. These will include.. That we vlll aim to increase the numbeTS of oldei people 8UPPOrted by Age UK Plymouth by at least 10% year on year and with a grealer focus on working in communities, and wlth partners. acros5 the Clty. What we will carnpalgn effectivety on behalf of those in Later Life in Plyrnouth particularly through the cost of living crisis. Thal all our st8ff and volunteers will have access to Iralning and career developrnent opportunitie8, and will be encouraged to promote and deliver service growth aligned with our plans. Ensudng we have staff welfare and wellbeing embedded in our cullure. That we will continue to work in partnership with Plyrnouth City Council, Livewell Soulhwest and the NHS Commissioners to benefrt from potential Serv￿Ce development opportunrb85.These partnerships are already prowng to be very successful and crucially delivering additlonal much needed support to those in later life in the City. That we will continue to innovate and look to enhance the support we provide to clients in a manner that has those individuals at the very heart of our delN8ry rnechanigms. Page 16 PLYMOUTH AGE CONCERN {A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Continuing to develop the Wlliam Venton Centre as a specialist Dementia Day Care Centre and deliver a level of service that exceeds client and carer expectations. That we wll use new technologies. processes and services lo irnprove 8eThfjce user experience, and staff productlvity. That we will seek to enhance existing sep4ices and develop new sorvice5 that are relevant and appealing to our existing and potential client base. That we will focus on improving at all levels and build on the progregs made acro¥$ 811 our seNices - induding in our Short-Term Care Centre. Day Centre, Dementia Day Cenlre, Help al Home service, Discharge ¥ervice, Dementia Awareness delivery. Information 8nd Advlce gervice. Jolly Elders. Veterans support, Wellbeing Hub, Befriending and more. That we wlll consult regularty wtlh service users, Garers, Staff, volunteers, and vthen approprlate stskeholders, funders and commissioners to improve service delivery. That we will work with 8 wide range of partners to share best pracllce and leaming. avoid duplication, and to dellver services and support that prevent loneliness, and the problems associated with ageing, to increasing numbers of older people in Plymouth. Ajigned ￿￿th and included in the three-year Busine8s Plan (2024-20261 wlll be Services Development plan Fundraising plan Communic8tions and Marketing plan People Strategy STATEMENT OF TRUSTEES. RESPON81BILITIES The Trustees (who 8Te also the directors of the Charity for the purp08es of company lawl are responsible for preparing the Trustees, Report and the financial $lalement8 In acGordance with applicable law and United Kingdom Accounting Standards {Uniled Kingdom Generally A¢¢epted Accounting Pr8Cticel. Company law requlres the Tru8t66s to prepare financlal Stslements for each financb31 year. Under company law, the Truste88 must not approve the financial statements unless they are $ati¥fied that they give a true and fair view of the st8le of affairs of Ihe Charity and of its incoming resources and application of re¥ource8. including ils Income and expendrture, for that perlod. In preparing these financial statements, the Trustees 8Te requlred to.. Select gUitab18 accounting policies and then appty them consistently,. Obserrfe the method8 and principles of the Charities SORP IFRS 1021,. Make Judgments and 8ccounUng estimates that are reasonable and pTudent', Slate whether applicable UK Accounting Standards (FRS 1021 h8ve been followed, subject to any material departures disclosed and explained in the fin8nclal statements; Prepare the financial ststements on the going concern basis unless it 15 In8ppropri8te to presuffle that the Charity will continue in business. The Trustees are responsible for keeping adequ8te accounting records that are sufficient lo show and explain the Charity's transactions and disclose wth reasonable accuracy 8t any time the financial position of the Charity and enabl? them to ensure Ihat the financial stalernents comply with the Companies Act 2006. They are a150 responsible for safeguarding the a55ets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other itregulartties. Page 17 PLYMOUTH AGE CONCERN (A COMPANY LIMrrED BY GUARANTEE) TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 DISCLOSURE OF INFORMATION TO AUDrroRS Each of the persons vtho are Trustees at the time vthen this Trustees. R8POrt is approved has confirmed th8L' So far 88 Ihat Trustee i¥ aware, there is no relevant audlt information of which the charity's audslors are unaware, and That Trustee has taken all the steps thal ought to have been taken as a Trustee in order lo be aware of any relevfjnl audit inf0m￿t￿)Tr and to eet8bli8h that the charity's auditors ara aware of Ih8t infomation. AUDITORS The Trvsleeg 8re gr8teful for the Support and diligence provlded by the Charity's auditor8. Bishop Fleming LLP. A motlon thanking the auditors and accepting the Tru9tee8 Report and financial statements foT the year ended 3191 March 2023 will be proposed at the next Annual General Meeting and approved by order of the members of the Board of Tru¥tees and signed on their behalf by- Benny Wrfght (Chalr of Tru•tse•) Page 18 PLYMOUTH AGE CONCERN IA COMPANY LIMITED 8Y GUARANTEE) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF PLYMOUTH AGE CONCERN OPINION We have audited the financial statements of Plymouth Age Concern {the 'charity'l for the year ended 31 March 2023 which comprise the Statement of Financi81 Activities, the Balance Sheet, the Statement of Cash Flows and the related notes. including a summary of significant accounting policies. The financial repo￿.ng framework that has been applied in their preparation is applicable law and United Kingdom A¢eounting Standards, including Financlal Reporting Standard 102 'The Flnancial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdorn Generally Accepted Accounting Practice). In our 0￿.n￿on the financi81 statements.. give a true and fair view of the slate of the charitable company's affairs ag 8t 31 March 2023 and of its incoming resources and apF4ication of resource5, including ils income and expendilure for the year then ended., have been properly prepared in accordance wllh Unitsd Klngdom Generally Accepted Accounting Practice,. and have been prepared In accordance with the requirermnls of the Companies Act 2006. 8ASIS FOR OPINION We conducled our audit in accordance wlth International Standards on Auditing IUKI {ISAs IUK)) and applScable law. Our responsibilities under those standards are fijrther de5rribed in the Auditors, Tesponsibililies for th8 audit of the financial statements section of our report. We are independent of the charitsble company in 8ccordance with the ethical requirements that are relevant lo our audit of the financial Ststements in the United Kingdom, Including the Financial Reporting Council's Ethical Stand8rd, and we have fulfilled our other ethical respon5ibilits.es in accordance with these requirements. We b81ieve that the audlt evidence wa have ob18ined is sufficienl and appropriate to provide a ba&s for our opinion. CONCLUSIONS RELATING TO GOING CONCERN In auditing the flnanaal stalernents, we have concluded that the Tnjgtees, use of the going concem basis of accounting in the preparation of the financial statement5 IS appropriate. 888ed on the work we have perfomied, we have not identified any material uncert8lnties relating to evenls or Gonditions that, individually QT collectively, may cast Significant doubt on the charitable comp8ny's abllity to conllnue as a going concem for a period of at least Iwefve months from when the finandal statements are aulhorised for Issue. Our responsibilities and the responsibilities of the Trustees Wth respect to going concem are de%ribed in the relevant sections of this reporL OTHER INFORMATION The other informatlon comprises the Infomialion induded in the Annual Report other than the finandal ststemenls and our Auditors, Report thereon. The Trustees are responsible for the other infom)ation contained within the Annual Report. Our opinion on the financial statsrnents does not cover the other infomation and, except lo the extent otherwise explicitly slated 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, ￿nSider vthether the other information Is matenally incon￿stent with the financial statements or our knowledge obtained in the course of the audit, or olheN4ise appears to be materially misstated. If we identify Such material inconsistencies or apparent m8terial misstslements, we are required to delemiine whether this gives rise to a material misstatement in the finan￿al statements themselves. If, based on the work we have performed, we condude that there 1$ a material misstatement of this olher information. we are required to report that fad. We h8ve nothing to report in this regard. Page19 PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDrroRS' REPORT TO THE MEMBERS OF PLYMOUTM AGE CONCERN ICONnK OPINION ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006 In our opinion. based on the work undertaken in the course of the audlt,. the Infomiation given in the Trustee5' Report for the finanry81 year for whlch Ihe financial ststemenls are prepa￿￿ is consistent with the financial ststements. the Trustees, Report has been prepared in accordance wllh 8pplicable leg31 requirements. MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION In the light of our knowledge and under5tsnding of the charitable company and its environment obtained in the course of the audit. we have not identified material mis81atements in the Tru5tees' Raport. We have nolhing lo report in respect of the following matters in relation lo which Companies Act 2006 requires us lo report to you if. in our oplnion.. adequate accounting records have not been kept, or retums adequate lor our audlt have not been received from branches not visited by u8.. or the flnancial statements ara not in agreement with the accounting record8 and returns., or certain disclosures of Trustees, Temuneration specified by law are not made,, or we have not received all the infomalion 8nd explanation5 we requiTe for our audit.. or the Trustees were not enlilled to Prepa￿ the financial statements in accordance with the sm811 companles regime 8nd take 8dvanl8ge of the small ¢ompanie8' exemptions in preparing the Trustees, Report and from the requiTemenl to prepare a Strategic RepoTL RESPONSIBILITIES OF TRUSTEES As explained more fully in the Trustees, Responsibilities Statement, the TnJstee8 Iwho are also the d1￿Clor5 of the charitable company for the purposes of company lawl are responsible for the preparation of th6 financial 5ts1emenls 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 preparats'on of financial statements that are free from material mi551alemenl, whether due to fraud or error. In preparing the financial statements, th8 TN8lees are responsible for assessing the charitable company's abillty to continue as a going concern, disclosing, as applicable, matters related lo goSng concem and using the going concern basis of accounting unless the Trustee5 either intend to liquidate the chantable company or lo cease operations. or have no realistic alternative bul to do 50. Page 20 PLYMOUTH AGE CONCERN IA COMPANY LIMITED BY GUARANTEEI INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF PLYMOUTH AGE CONCERN ICONTINUEDI AUDITORS. RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material mi5Statement. whether due lo fraud or error. and to 155ue an Auditors, Report that includes our opinion. Reasonable assurance is a high level of assurance. bul is not a guarantee that an audit conducted in accordance with ISA5 IUKI will alw8ys delect a material misslalement when il exists. Misstatement5 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 basls of these financial statements. Irreau18rities, including fraud, are Instances of non-compllance with laws and regulations. We design procedures In line with our ￿SPonSIbl}It1e5, Outlined above. to detect material misstatements in respect of irregulanlies, Including fraud. The extent lo whlch our procedures are capable of delecling irregularibes, including fraud is detailed below.. We have considered the nature of the sector, control environment and finanaal performance., We h8ve considered the results of enquiries with management and trustees in relation to their cywn idenlificalion and assessment of the risk of irregularities wllhin the ents'ty; We have revlewed the documentation of key processes and rontrols and performed walklhroughs of transaction5 to confirm that the systems are operating in line with documentation., We have obtained and reviewed the Charity's documentation of their policies and procedures relating to.. Identsfying, ev8luatlon and complylng with lews and regulation5 and whether they weT8 aware of any instances of non-compliance., Detecting and responding to the rlsk5 of fraud and whether they have knowledge of any actual, 8uspecled or alleged fraud., The intemal controls established to mitig8te rlsk$ of fraud or noncompliance with laws and regulations., We have considered the m8tter8 discussed among the audit engagement team regarding how and where fraud might occur in the finanrial statements and any potenlial indlcators of fraud. As a result of these procedures, we have considered the opportunrties and incentives that may exist wthin the organlsation for fraud and identified the hlghesl area of Tisk lo be in relation lo income recognition. with particular risk in ￿latiOn to year-end cul off. In common with all audits under ISAS IUKI we are also required to perform specific proredures to respond to the nsk of management override. We have also obtained an understanding of the legal and regulatory frameworks that the Charity operate8 in, focusing on provisions of those laws and regulallons that had a direct effect on the deteminab'on of material amounts and disclosures In the financial slatemenls. The key laws and regulations we considered in this context included the Charities Act 2011, Charity SORP 2019, UK Companies Act, and FRS102. In addition, we considered the provistong of other laws and ￿ulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the Charity's ability to operate or avoid a material penalty. These included the Health & Social Care Act, data protection legislation, health and safety regulations, safeguarding regulations and employment legislation. Our procedure5 to respond to risks identified Included Ihe followng.. Reviewing the finanaal s18tement disclosures and testing to supporting documentallon lo assess compliance with provlsions of relevant laws and regulations described as having a direct effect on the financial statements., Performing analyb'cal procedures to identify unusual or unexpected relationships that may indicate risks of material misslatemenl due to fraud., Reviewing board meeting mlnutes., Enquiring of management in relation to a¢lual and potential claims or litsgations., Performing detailed transactional testing in relation to the rerAJgnition of income. specifically grants with a particular focus around year*nd cul ofTr, and In addres51ng the risk of fraud through management override of ¢ontrols, lesling the appropriateness of IOLSmal entries and other adjuslmenls,. assessing whether the judgments made in accounting estimates are indicative of potential bias and evaluating the business ralonale of significant transaGtions that are unusual or outside the normal course of bu¥inv3S. Page 21 PLYMOUTH AGE CONCERN IA COMPANY LIMITED BY GUARANTEE) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF PLYMOUTH AGE CONCERN ICONTINUED) We also communicated identified laws and regulations and potential fraud risks to all members of the engagement team and remained alert lo possible indicators of fraud or nonrycompliance wth laws and regulations throughout the audit. As a result of the inherent limitations of an audit. there Is a risk that not all ifregularities, including a material misslalement In financial statements or non-compliance with regulation. well be detected by us. The risk increases the further removed compliance with a law and regulation is from the ev8n15 and transactions reflected in the financial staternents, given we will be less likely lo be aware of it, or should the irregularity occur as 3 result of fraud rather than 8 one-off error. as thls may involve intentional concealment, forgery, collusion. omission or misrepresentation. A further de8criplion of our responsibilities for the audil of the financial statements is located on the Financial Reporting Council's webslte al.. www .uk18udilorsres ibilities. This description forms part of our Auditors, Report. USE OF OUR REPORT Thls report Is made solely to the Charitys members, as a body, in accordance wth Chapter 3 of Part 16 of the Companies Act 2006. OUT audit work has been undertaken so that we might state to the Charlty'8 mernbers those matters we are required lo stste lo them in an Audilor5' Report and for no other purpose. To the fvllest extent permitted by law, we do not accept or assume respon5ibllity lo anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions w? have fonned. Pamela Tuckott FCA DChA {S•nlor Statutory Audltor) for and on behalf of 81shop Flemlng LLP Chartered A¢¢ounlanls Slatulory Auditors Sall Quay House 4 North East Quay Sutton Harbour Ptymouth PL4 OBN Date.. Page 22 PLYMOUTH AGE CONCERN IA COMPANY LI￿￿ED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDrruRE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2023 EndovHnenl funds 2023 Restricted Unrostricted funds fund• 2023 2023 Total lunds 2023 Total fundg 2022 Note Income and endowments fr(wn: Donatlons on¢J legacies Charitable activltSes Investments other income 570,364 488,707 219N23 762,138 21,657 56,936 789,787 1,220.845 48,762 65,697 182,352 798,633 52,062 32,117 27,103 8,661 Total Incoffle and endowments 27,106 1,047,732 1,050,164 2,124,991 1,065,164 Expondlturo on: Ralsing funds Charitable advltles 6,093 68,752 38,804 1,229,571 44,897 2,361,251 40,959 1,215,522 10 1,062,928 Tolal expondltur• 64,845 1,062,928 1,268,375 2,396,148 1.256,481 Nel lexpenditurell Income belore n•t 110•1o¥1l gain• on Inve¥Jtment• Nel gainslllossesl on Investments 137,740) 115,196) 1218,2211 1271,157) 1191,317) 79,248 1160,389) 160.694 Net (•xp•ndlturell Incorng Transfers belween funds 41,508 115,196) 1378,620) 1352,308) {30.6231 18 120829) 20.419 Net rnovomont In fund• 41,508 135,6251 1358,191) 1352,3081 130,6231 R¢conclllalion of fund•: Total funds brought forward Nel movement in lunds 1,778,299 41,508 117,199 (36.6251 1,134,489 (368.191) 3,029,987 (352,3081 3,060,610 130.6231 Tolal funds Gjrriod forward 1,819,807 81,574 776,298 2,677,679 3.029,987 The Statement of Financial Actlvities includes all gains and105ses ￿cOgniSed in the year. The not95 Qn pages 26 to 46 fom part of these financial statements. Page 23 PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEEI REGISTERED NUM8ER:01499927 BALANCE SHEET AS AT 31 MARCH 2023 2023 2022 Nots Flxed assets Tangible assets Investrnents 14 15 1.143,055 1,272,682 1.133,992 1,718.228 2,415,737 2,850,220 Current amats Slocks Debtors Cash at bank and in hand 2.702 292,733 118,886 3,518 193,515 185,191 18 414,320 382,224 Credltors.. amounts falling due within one year 17 1152,3781 1202,457) N•t current avd•t• 261,942 179,767 Total nfrt a•8•ts 2,677.679 3,029,987 ChwrSty fund• Endowment fiJnd8 Restricled funds UnreslTiCted funds 18 18 18 1,819,807 81,574 776,298 1,778,299 117,199 1,134,489 Totsl funds 2,677,679 3,029,987 The Trustees acknowledge their re$ponsibllilie8 for complying wlth the requirements of the Act with respect to accountin9 re￿rdS and preparation of financial stalements. The financial slalemen15 have been prepared In accordance wlth the provlslons 8pplicabte to entities 5ubjact to the small companie5 regime. The financial statements were approved and 8Uthorised for issue by the Trustees and signed on their behalf by.. B Wrlght (Chair of Trusleesl Date.. The notes on pages 26 to 46 fom part of these fin8nual statements. Page 24 PLYMOUTH AGE CONCERN IA COMPANY LIMtTED BY GUARANTEE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Note Ca•h Ilows operating •ctlvltle• Net cash used in operating activities 21 1306.4891 {129,203) Cash flo￿ from Inve•tlng activitl Diviéends, Interests and rent5 from investments Proceeds from the sale of tangible fixed assets Purchase of tsngible fixed assetg Proceeds from sale of investments Purchase of investments Management of liquid Tesources 48,762 52.062 15511 196,290) 1217,8941 424,960 966,548 1124,852) 1592,9761 112,397) 115,2351 Not cash providod by Invo•tlng •ctlvltl•• 240,183 191,954 Chango In ca•h and c••h oqu5val•nts In Ihe year Cash and cash equiv8ient8 al the beginning of the year (66,3061 185,191 62,751 122,440 C••h and c••h •qulvalent• at the •nd of th• year 22 118,885 185,191 The notes on pages 28 to 46 forrn part of these financi81 statements Page 25 PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 GENERAL INFORMATION The Charity is 8 Company limited by guarantee and does not have share Capital. Every member of the Company undertakes lo contribute to the assets of the Company if it is wound up during the period he or She i¥ g member, or wthin one year aftetwards, for payments of debts and liabilits'es of the Company contracted before the time at which he or she ceases lo be a member, and of the costs. charges and expenses of winding up the same and for the adjustment of the rights of the contribulories among themselves, such as amount5 as may be required not ex￿edIng £1. The Cornpany is registered in England and Wales 8nd is a public benefit entity. The registered offi'ce is at The William & Patnaa Venton Centre. Astor Drfve, Mount Gould. Plymouth, PL4 9RD. The registered number is 01499927. ACCOUNTING POLICIES 2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS The fi'nancial statements have been prepared in 8ccordance with Ihe Charities SORP {FRS 1021 Accounting and Reporting by Charilie5.' Statement of Recommended Practsce applicable to chants'es preparing their accounts in accordance with the Finanaal Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 leffective 1 January 2019), the Financi81 Reporbng Stsndard applicable in the UK and Republic of Ireland IFRS 102) and the Companies Act 2006. Plymouth Age Concern meets the definition of a publlc benefit entity under FRS 102. A58ets and liabilities are initially recoynised at historical cost or tr8nsaclion value unless otherwise staled in the relevant accounting pollry. The presentational currency is pounds sterling and Ihe financi81 statements are rounded to the ne8rest £. 2.2 GOING CONCERN The Trustees have reviewed thè circumstsnces of the Charity and consider thal there are adequate resources lo continue 118 operations for the foreseeable fvture. As a result, the Trustees have continued lo adopt the going concern basi5 of accounting in preparing the financial statements. A further review of the golng concern status of the Charity is located within the TTusleés' Report. Page 26 PLYMOUTH AGE CONCERN IA COMPANY LIMfrED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR TPIE YEAR ENDED 31 MARCH 2023 ACCOUNTING POLICIES Icontlnuedl 2A INCOME l income Is re¢ognised once the Ch8rfty has entilement lo the income, il is probable that the income will be re￿iVed 8rsd the amount of income receivable can be measured reliably. The recognit+on of Income from legacies is dependent on est8blishing enty'tlement. the probability of receipt and the ability to esb'mate with sufficient accuracy the amount receivable. Evidence of entillemenl lo a legacy exists when the Charity has sufficient evidence that a gift has been left lo them (through knowledge of the existence of a valid wll and the death of tha benefaclorl and the executor is satisfied thal the property in question will not be required lo satisfy claims in the estate. Receipt of a legacy musl be recognised when il is probable that it wll be received and the fair value of the amount receivable, which will generally be the exp8Cted cash amount to be distributed to the Charlty, can be reliably measure(l. Grants are Included in the Statement of Financial Activiti85 on a Tr¢eiv8ble bwJls. The balance of income received for specific purposes but not expended duTing the period is shown In the relevant funds on the Balanu Sheet. Where income is Teceived in advance of entitlement of receipt. its recognibon 15 deferred and inGluded in creditors as deferred income. Where e￿￿tlement occurs before Incorne18 recelved, the Income Is accrued. Income tax recoverable in relation to Investment income is recogni86d at the time the Investment Income is receivable. Other income is recognised in the period in which it is receivat48 and to the extent the goods have been provided or on completion of the seNice. 2A EXPENDITURE Expenditurelg recognised once Ih8re is a legal or constructive obligation to transfer economic benefit to a third paty, it is probable that a transfer of ewnomic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is c18ssified by acltvity. The costs of each activity are made up of the total of diTecl Gosls and shared cosls. including 5UPPOrt costs involved in undertaking each activty. Dlrect Costs attributable to a single activity are allocated direclly to that activity. Shared costs whlch contribute to more than one activity and support costs which are not attributable lo a single activity are apportioned between those activities on a basis con515tent wlth the uge of resources. Central staff costs are allocated on the basis of time spent, and dep￿claI10n charges allocated on the portlon of the asset's use. ExPend￿ure on raising funds Indudes all expenditure incurred by the Charity to r8ise funds for its charitable purposes and indudes wsts of all fvndraising activities events and no￿￿9r1t8b1e trading. Expenditure on thantable actlvitles Is incurred on diredy undertaking the activities which further the Charitys objectives, as well 85 any assoaated support costs. All expenditure 18 inclusive of irrecoverable VAT. 2.5 GOVERNMENT GRANTS Government grants are credited to the Ststement of Financial Activib'es as the related expenditure is incurred. Page 27 PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 AccouiillNG POLICIES IcontlDued) 2.6 TANGIBLE FIXED ASSETS AND DEPRECIATION Tangible fixed assets costing £500 or more are capilalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised al cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment 105se5. All costs incurred to bring a tsngible fixed asset into Its intended working condition should be included in the measurement of cosL Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual v81ue over their estim8ted useful lives, using the slraight-lin8 method. Depreciation Is provided on the following basl9'. Freehold property MotOT vehicles FixtUTes and fittings 2% slraight-llne on buildings, 0% on land 15% straight lin8 15% 10 30•A reduung balance 2.7 INVESTMENTS Fixed asset investments are a form of financlal Instrument and are inib'alty recogftlsed at Ihelr transaction cost and subsequently measured 8t fair value al the Balance Sheet date, unle¥s the value cannol be measured reliably In which case it is measured at cost les5 irnpaiTmenL Investment gains and lo$se9. whether r8ali5ed or unrealised, 8re combined and presented as 'Gainsl{Losse$l on Investments, in the Statement of Financial Activities. Investments In sub8idlaries are valued at wst less provision for impairment, 2.8 STOCKS Stocks are valued at the lower of cost and nel realisable value after makr'ng due allowance for obsolete and slow-moving stocks. Cost includes 811 direct Costs snd an appropriate proporb'on of fixed and variable overheads. 2.9 CASH AT BANK AND IN HAND Cash at b8nk and in hand Includes cash and short-term highly liquid investments with a short maturity of three months or less from the dale of acquisition or opening of the deposit or similar account. 2.10 LIABILITIES AND PROVISIONS Liabilibes are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit wll be required in settlement, and the amount of the settlement can be estimated reliably. Liabllilles are recognbsed at the amount that the Charity anticipates it will pay to setue the debt or the amounl it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settl& the obligation. Where the effe¢l of the time value of money is material, the provision is based on the present value of those amounts. discounted al the pr￿taX discount rate that reflects the risks speGifiG to the liability. The unwindlng of the discount is recognised in the Statement of Financial Activities as a finance cost. Page 28 PLYMOUTH AGE CONCERN IA COMPANY LIMrrED 8Y GUARANTEE> NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 ACCOUNTING POLICIES Icontlnued) 2.11 PENSIONS The Charity operates a deflned contribution pension scheme and the pension charge represents Ihe amounts payable by the Charity lo the fund in respect of the year. 2.12 FUND ACCOUNTING General funds are unre5tricled funds which are availablè for use al the discretion of the Trustees in fijrtherance of the general objectives of the Charity and which have not been designated for other purposes. Designated fvnds compri% unrestricted fvnds that have been set aside by the Truste88 for particular purposes. The aim and use of each deslgnated fund Is sel out in the notes to the finanejal statements. Restricted funds are funds which are lo be used in accordance with specific reslriclions imposed by donors or which have been raised by the Charity for parb'cular purposes. The costs of raising and admirsislerfng such lunds are charged against the specific fund. The aim and usa of each reBtricted fvnd ig sel out in the notes to the financial statements. Investment income, gain$ and Ioss88 are allocated to the appropTiale fvnd. CRITICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGEMENT Estimates and judgements afft continually evaluated and are b89ed on hi5toricbl experience and other factors. including expectations of future events that believed to be reasonable under the ¢i￿umstanCes, Cdlical accountlng esllmates and 8ssumplion8'. The preparation of the fi'nancial statements requires management to make judgements, estimates and assumpty'ons that effect the amounts reported for assets ané liabllities as at the balance sheet dale and the arnounts reported for revenues and expenses during the year. However, the nature of estimats'on means that actual outcomes could differ from Ihose eslimales. Whilst there is a level of assumption in these judgements, the Trustees feel these are unlikely lo have a significant effect on. or cause material error to the amounts recogniseé in the financial 5ts1emenls. Management exerrise judgement in the recognition of income from legacies. Judgement is applled to e5tsblish entiUement, the probability of receipt and the abillty to estimate sufficient accuracy the amount receivable. Page 29 PLYMOUTH AGE CONCERN IA COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 INCOME FROM DONATIONS AND LEGACIES Rostrlctod Unrn•trfcled funds funds 2023 2023 Total fund8 2023 Donatlons Legacies Grants 19,802 199,621 19,802 199,621 570,364 570,364 57D,364 219,423 789,787 Restricted Unre8￿Cted funds nds 2022 2022 Total fund8 2022 Donalion8 Legacies Grants 4,990 77,831 11,580 82,821 11,580 81,777 6,174 81.777 8,174 covitk19 Grant 92,941 89,411 182.352 INCOME FROM CHARITABLE ACTIVITIES Restrlctod Unmtrlctod fund• funds 2023 2023 Total fund• 2023 Car8 servlces Short term care centre 1,943 466,764 680,138 72.000 682,081 538,764 468,707 752,138 1,220,845 Page 30 PLYMOUTH AGE CONCERN IA COMPANY LIMrrED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 INCOME FROM CHARITABLE ACTIVITIES ICONTINUEDI Restricted Unrestricted funds funds 2022 2022 Tot81 fvnds 2022 Care services Short term care centre 100,679 654.394 43,580 755,073 43,560 100,879 697,954 798,633 INVESTMENT INCOME Endobwnent Unmtrlctgd fund• funds 2023 2023 Tot•1 funds 2023 Income from listed investrnent5 27,105 21,657 48,762 Endowment Unrestricted fund8 funds 2022 2022 Total funds 2D22 Income from listed Investment8 33,708 18,354 52,062 OTHER INCOMING RESOURCES Ro•tricted Unre8trlcled lund• funds 2023 2023 Total fund• 2023 Rental and ¢)ther income 8,661 56,936 65,597 Page 31 PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 OTHER INCOMING RESOURCES ICONTINUEDI Unre$th'cted funds 2022 Tolal fvnds 2022 Rental and other income 32,117 32,117 EXPENDfwRE ON RAISING FUNDS FUNDRAISING TRADING EXPENSES UnrnBtrlcl•d fund• 2023 Total fund• 2023 Ralslng funds 32,502 32,502 Unrestrocted funds 2022 Total fund8 2022 Raising funds 25,724 25,724 INVESTMENT MANAGEMENT COSTS Endowment Unrnstrlcted funds funds 2023 2023 Total fund• 2023 Investment management fees 6,093 6.302 12,396 Page 32 PLYMOUTH AGE CONCERN IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 INVESTMENT MANAGEMENT COSTS ICONTINUED) Endowment Unrestricted nds funds 2022 2022 Total lunds 2022 Investment man3g8menl fees 8,370 6,885 15,235 10. ANALYSIS OF EXPENDrruRE BY ACTIVITIES A¢tlvltlo• undortaken dlroctly 2023 Support ¢o•t• 2023 Total lund• 2023 Cgre Seryices 1,605.446 745.803 2,351,261 Actlvlties undertaken directly 2022 Support costs 2022 Total funds 2022 Care Services 914,933 300,589 1,215,522 ANALYSIS OF SUPPORT COSTS Caro Servlces 2023 Total fund¥ 2023 Oepreciation Equipment purchases and maintenance Printing, postage, stationery and aévertislng Financial and administrats.ve costs Professional fees Premise5 costs Governance wsts 87,227 71,597 18,817 8.437 12,160 535,565 12,000 87,227 71,597 18,817 8N37 12,160 535,565 12,000 745,803 74S,803 Page 33 PLYMOUTH AGE CONCERN {A COMPANY LIM￿ED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 10. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED ANALYSIS OF SUPPORT COSTS Icontlnued) Ca Services 2022 Total fund8 2022 Depreciation Equlpment purchases and maintenance Printing. postage, $18tlonery and advertising Finanaal and adminlstratsve costs Professional fe8S IG8inyLoss on disposal of assets Premlses costs Governance wst8 69,508 15,041 13,667 9,468 27,954 3,211 151,740 10,000 69,508 15,041 13,667 9,468 27,954 3,211 151,740 10.000 300,589 300,589 11. AUDITORS. REMUNERATION 2023 2022 Fees payable to the Charlty's audltor for the audlt of the Charity's annual accounts 12,000 10,000 Fees payable to the Charity'$ auditor in re5Fe¢t ot. All non-8udlt services not included above 1,540 1,400 12. STAFF COSTS 2023 2022 Wages and salaries Social security costs Contribution to defined contrlbution pension schemes 1.361.281 73,351 20,386 809,179 36,790 10.637 1,455.018 855,606 Page 34 PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 12. STAFF COSTS ICONTINUED The average number of per80ns employed by the Chaiity during the year was as follows: 2023 No. 2022 No. Average Employees 99 87 No employee receNed remuneration amounting to More than £60,000 in either year. Key management personnel, induding the Chief Executs've and other Senior Management Team rnembers, received remuneration {inrluding employer pension contribuliong, excludlng employerfs national insurance contributions) during the year tolalling £194,676 avegerage headcount.. 5 12022.. £147,287 - av8rage headcount.. 41. 13. TRUSTEES. REMUNERATION AND EXPENSES During the year, no Trustees received any remuner3tlon or other benefits {2022- £NILI. During the year ended 31 March 2023, no Trustee exp8n8es have been incurred12022 - £NILI. Page 35 PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 14. TANGIBLE FIXED ASSETS Freohold proporty Motor Flxtur•s and vehlcles fltting8 Total COST OR VALUATION At 1 April 2022 Addrtions Transfers betsveen dasses 2,996,502 67.467 127,634 24,710 663,988 28,823 1127,634) 3.675,200 96,290 At 31 March 2023 3,181,603 24,710 555,177 3,771,490 DEPRECIATION At 1 April 2022 Charge for th8 year 2,140,524 58,752 7.$42 2,575 393,142 25,900 2,541,208 87,227 Al 31 March 2023 2,199,276 10.117 419,(M2 2,628,435 NET BOOK VALUE At 31 March 2023 992,327 14,693 136,136 1,143,055 At 31 March 2022 855,978 17,188 260,846 1,133,992 The c08t of land and buildings includes non4eprecoble land of £510,00012022.' £510,000). The amount held on c8pllal fijnds 8t the year end is the net book value of freehold land and buildings known as the Willlam & Patricia Venlon Centre which is £992,327 12022. £855,978). This was valued by an independent surveyor in April 2019 and was impaired in the 2020 account$ lo re￿gnise the decrease In the bulldings fair value. Page 36 PLYMOUTH AGE CONCERN IA COMPANY LIMITED BY GUARApifEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 15. FIXED ASSET INVESTMENTS Investments in sub8ldiary Llsted ompanle8 Investment• Total COST OR VALUATION Al 1 April 2022 Addlllons Disposa15 Revaluations 1,716,227 124,862 1412,5631 1155,8361 1,716,228 124,852 1412,563) 1156,835) AT 31 MARCH 2023 1,272,681 1,272,682 NET BOOK VALUE AT 31 MARCH 2023 1,272.681 1,272,682 AT 31 MARCH 2022 1,716,227 1,716,228 PRINCIPAL SUBSIDIARIES The followng was 8 8ub8idi3ry undertaking of th• Ch8dty'. R•glst•r•d offlce or prlncipil Prlnclpal actlvlty plac• of bu•ln8•• Nam• Company numb•r Plymouth 50+ Ltd Idormanti 08350229 The William & Patricia Ventoncenlre, Astor Drive. Mount Gould,Plymoulh, PL4 9RD. Dorni8nt Company Cla•s of ¥hare8 Holdlng Includad In ¢onsolldatlon Or(linary 100% No The financial results of the subsidi8ry for th8 year were= Name Not ￿get3 Plymouth 50+ Ltd (dormant) Page 37 PLYf•lOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 16. DEBTORS 2023 2022 DUE WITHIN ONE YEAR Trade debtors Other debtors Prepayments and accrued incorne 78,001 927 215,805 185,388 1,914 6,213 292.733 193,515 17. CREDITORS: AMOUNT8 FALLING DUE WITHIN ONE YEAR 2023 2022 Trade CTeditor8 Olher taxats'on and social secunty other creditors Accruals and deferred income 12,777 21,880 2,601 115,220 49.863 16,309 29,779 106,508 152,378 202,457 2023 2022 Deferred income at 1 April 2022 Resources deferred during the year Amounts released from wevious penods 90,720 98,139 (90,7201 90,720 98,139 90,720 The deferred incorne balance relates to short teTm care centre contract Income received In advan￿. Page 38 PLYMOUTH AGE CONCERN (A COMPANY LIMftED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 18. STATEMENT OF FUNDS STATEMENT OF FUNDS - CURRENT YEAR Balance at 31 March 2023 Balanco at 1 Aprll 2022 Transfers inloul G•lns1 {Losses) Incom• Expendlluve UNRESTRICTED FUNDS DESIGNATED FUNDS Mount Gould refurblshment 208,864 116,705) 191,959 GENERAL FUNDS General Funds 925,825 1.060,154 {1,251,670) 20N29 1160,399) 684,339 TOTAL UNRESTRICTED FUNDS 1,134N89 1.050,154 11,268,375) 20,429 1160,3991 776,298 ENDOWMENT FUNDS Endowment Fund 1,778,299 27,105 164,8461 79,248 1.819,807 Page 39 PLYMOUTH AGE CONCERN IA COMPANY LIMrrED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 18. STATEMENT OF FUNDS ICONTINUEDI Balance at 31 March 2023 Balan¢9 at 1 Aprll 2022 Translevs inlout Galn•l ILoMesl Income Expendltur• RESTRICTED FUNDS National Grid - Communlty MatteT5 Edward Gostllng Foundation The National Lottery Westem Power Dlstrubtion Other restricted projects Restricted funds 8penl on r￿ed assets Independent Age Cost of Llvlng Dlschafge Contracts Cost of LNing Response Fund Phone Friends- Community Plymouth Veterans Club HSF Grant Wellbeing Hub 9,608 14,5301 5,078 19,OlXI 119.0001 22.955 122,9561 3,820 12,5001 13,B201 21.983 11,432 124,8981 15,8281 2.689 19A02 14,3381 15,066 20,01)0 18,9301 11,070 468.707 (432,056 36,651 10,000 10,000 12.757 (1,976 110,7811 9,083 655 26.564 15,$90 476,000 14,89S (23,633 (476,655 (41.4691 1,020 117,199 1,047,732 11,062,928 120h291 81.674 TOTAL OF FUNDS 3,029,987 2,124,991 12,396,148) 181,1511 2,677,679 Page 40 PLYMOUTH AGE CONCERN (A COMPANY LIMtrED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 18. STATEMENT OF FUNDS ICONTINUED Deslgnated funds £131,000 has been designated by Trustees from unrestricted funds for the refurbishment of the Mount Goulé Premises. This was fully spent in year. The transfer in to this fund relates to other capital expenditure incurred on this refurbishmenL The closing p)51tion repreBents the NBV of the assets at the year end. Endowment funds The net book value of the Wllliam and Patricla Venton Centre is induded under Endowment fvnds as it was part of the original gift, along with the Brewln Dolphin invest￿￿nt portfolio valu&. R8*trlct•d lund• Venlon Centre Refu￿ois￿ment Grant - this fund represents a grant rec8N8d from The Venton TTU51 for refvrbishment works. Mayfiower Sparks 400 - this Tepresents lunding received from Plymouth City Council to deliver a creative projeGt to celebrate the 400th anniversary of The Mayflower. The PTolecl has been extended unts'l Juty 2021. Staff Events Committee - thlg fund rep￿sentS income from staff fundraising which is to be spent on charitable aclivlties voted by the member8. cO￿P Communlty Fund- this fund repTesent5 a reslricted donation from The Covop Communlty Fund to pay for cream le88, demantla lunches and day trbps. Coronavirus Job Retention Fund - this fund represents income received from HMRC to specifically fund the salaries of furloughed staff. The Nabonal Lottery this fund represents a grant to enable social engagement and reduce loneliness and for ongoing Support during the Covid-19 pandemic. Amed Force8 Covenant - th18 Tepresenls Income to Use for communlty projects that reduce isolation and loneliness. Western Power Disth'bution this represents income from Western Power 88 part of their 'in thls togetherf fund to help communities recover from the Covid-19 pandemic. Olher Restricted Prolects - this represents Income from E151e Pilkington to purchase a van for home visits, Ptymoulh City Council to purchase PPE and cleaning items for infection control, income re￿iVed as part of the Big Bike Revival in order to make wcling more assessable to everyone and Francis Winham Foundalon and Mclay Dementia TTU5t for items to Use in the dementsa centre. This also indudes giants from Clolhortks Foundation, MO￿150￿3, SWW Neighbourhood Fund. All restricted funds are lo be used in furtherance of the Charitys objects. Restricted funds spent on fixed assets - thls represents the net book value of assels of ￿¥trIcted fixed asset5. Kickstart - this represents income from the government to create new jobs for 16-24 year olds on Universal Credrt who are at risk of long temi unemployment. Phone Friends - Community - this fund repre5ent5 income from Plymouth City Council, lo support our COVID 19"phone friend" service to transition to a face to face activity serv￿. Wellbeing Hub - this fund repre5ent5 Income from PIyTnouth City Counril to create rooms to be used as part of the new Mount Gould Ageing Wellbeing Hub, in order lo make a￿esS to services easier for the ommunity. Page41 PLYMOUTH AGE CONCERN (A COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 STATEMENT OF FUNDS {CONTINUEDI STATEMENT OF FUNDS - PRIOR YEAR Balance at 31 M8rch 2022 88lance at 1 April 2021 Transfers inlcArt Gainsl (Losses) Income Expenditure UNRESTRICTED FUNDS DESIGNATED FUNOS Mount Gould refurbishment 131,000 77.664 208,6e4 GENERAL FUNDS General Funds 675,132 837,836 1992,155) 116.347) 421,359 925.825 TOTAL UNRESTRICTED FUNDS 8C6,132 837,836 1992,155) 61,317 421,359 1,134,489 ENDOWMENT FUNDS Endowment Fund 2,101,366 33,708 (63,4451 132,6651 {260,685) 1,778,299 Page 42 PLYMOUTH AGE CONCERN IA COMPANY LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 STATEMENT OF FUNDS (CONTINUEDI 8alance at 31 March 2022 Balance at 1 Apri12021 Tran8fers inlout Gainsl {Losses) Income Expenditure RESTRICTED FUNDS Coronavirus Job Retention Fund Venton Centre Refurbishment Grant Maynower Sparks 400 Staff events committee cO￿P communlty fund The Nats'onal Lottery Anned Forces Covenant Western Power Distrublion 8.174 16.174) 12,418 112,4181 19991 282 12821 4,032 14,0321 77,278 164.323) 22,955 395 (395) 3,820 3,820 Other restricted projects Restricted funds spent on fixed assets Kickslart Phone Frlends - Communlty Wellbeing Hub 28,666 85.714 (70,4771 112,2021 31,701 25,222 {5,8201 155,2131 19,402 55,213 19,955 26.564 17,198} 12,757 26,564 153,112 193,620 1200,881) 128,652) 117,199 TOTAL OF FUNDS 3,060,610 1,065,164 {1,256,4811 160,694 3,029.987 Page 43 PLYMOUTH AGE CONCERN IA COMPANY LIMrrED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 19. SUMMARY OF FUNDS SUMMARY OF FUNDS- CURRENT YEAR Balanco at 31 March 2023 Balanco 411 Aprfl 2022 Tron8fers Inlout Galnsl (Losses) Income Expendblurn Designated fund5 General funds Endowment funds Restricted fvnds 208,664 925,825 (16,7051 1,050,154 11,261,670) 191,959 584,339 20,429 1160,399) 1,778,299 117.199 27,105 164,846 1,047,732 11,062,928 79,248 1,819,807 81,674 120,4291 3,029,987 2,124,991 12,396,148) 181.1511 2,677,679 SUMMARY OF FUNDS- PRIOR YEAR Balance at 31 Mar¢h 2022 B81ance al 1 April 2021 Translers inlout Galnsl (Los¥es) Income Exp8nditur8 Deslgnated funds 131,000 675,132 77,664 118,3471 208,664 925,825 General funds Endovmienl funds Restricted fijnds 837,836 1992,1551 421,359 2,101,366 153,112 33,708 193,620 163,445) 200,881) 132,6651 {260,6651 128,6521 1,778,299 117,199 3,C60,610 1,065,164 11,256.481) 160,694 3,029.987 20. ANALYSIS OF NET ASSETS BETWEEN FUNDS ANALYSIS OF NET ASSETS BETWEEN FUNDS- CURRENT YEAR Endowment funds 2023 Re8trleted Unrestricted fund8 fund8 2023 2023 Total fund• 2023 Tangible fixed assets Fixed asset investrnents Current assets Creditors due within one year 992,327 827,480 15,066 135,662 445,202 347.812 1152,3781 1,143,055 1,272,682 414.320 1152,378) 66,508 TOTAL 1,819,807 81,574 776,298 2.677.679 Page 44 PLYMOUTH AGE CONCERN (A COMPANY LIMrrED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 20. ANALYSIS OF NET ASSETS BETWEEN FUNDS (CONTINUED) ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR Endowment fund5 2022 Restricted Unrestr'cted funds funds 2022 2022 Total fijnds 2022 Tanglble fixed assets Fixed asset investments Current as6ets 855,978 922.321 19,402 258,612 1,133,992 793,907 1,716,228 284,427 382,224 1202,4571 1202,457) 97,797 Creditors due within one yesr TOTAL 1,778.299 117,199 1,134,489 3.029,987 RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES 21. 2023 2022 Nel expenditure for the year la8 per Statement of Financial Aclivilies) 1352,3081 {30,6231 ADJUSTMENTS FOR: Depreciation charges {Gain5iilosses on investments Dividends. Inlere8ts and rents from investments Loss on the $81e of fixed assets Decreasel{increasel in stoL*8 Increase in debtors Incre8selldecreasel in credltor8 87,227 155,836 146,762) 69,508 1160,6941 152,0621 2,660 (2,1401 173,650) 117,798 816 199,218) 150,079) NET CASH USED IN OPERATING ACTMTIES (306,4891 {129,203) 22. ANALYSIS OF CASH AND CASH EQUIVALENTS 2023 2022 Cash in hand 118,885 185,191 TOTAL CASH AND CASH EQUIVALENTS 118,885 185,191 Page 45 PLYMOUTH AGE CONCERN IA COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 23. ANALYSIS OF CHANGES IN NET DEBT At 1 Aprll 2022 Ca•h 11ows At 31 March 2023 Ca8h at bank and in hand 185,191 (66.3061 118,885 PENSION COMMITMENTS The Chartty operates a defined contribub'on pension schem8. The assets of the scheme are held separately from those of the Charity In an independenuy administered fund. The pension cost charge represents contnbutions payable by the Chanty lo the fund and arnounled to £20,386 (2022.. £10,637). £Nil12022.' £1,684) was payable to the fund at the balance sheet date and is induded in creditors. 25. OPERAnNG LEASE COMMITMENT8 At 31 March 2023 the Charity had comrnltments to make luture mlnimurn lease payments under non- C8ncellable operatlng leases 88 follow8.. 2023 2022 Not later than 1 year Later th8n 1 year and not later than 5 yèars 7,001 12,633 3,835 7,031 19,634 10.866 RELATED PAR￿ TRANSACTIONS The Charity has not entered Into any related party transaction during the year, nor are there any outstanding balance$ owing between related parties and the Ch8rlty at 31 March 2023. CONTROLLING PARTY The Charity's ultimate controlling paty is the Board of Trustees. Page 46