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2025-03-31-accounts

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Company registration number: 01499927 Charity registration number: 281820

Plymouth Age Concern

(A company limited by guarantee)

Annual Report and Financial Statements

for the Year Ended 31 March 2025

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Plymouth Age Concern

Contents

Reference and Administrative Details 1 to 2
Trustees' Report 3 to 16
Statement of Trustee's' Responsibilities 17
Independent Auditor's Report 18 to 21
Statement of Financial Activities 22 to 23
Balance Sheet 24
Statement of Cash Flows 25
Notes to the Financial Statements 26 to 46

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Plymouth Age Concern

Reference and Administrative Details

Trustees E Bombieri
P Burroughs
M Creek - Chair
S Hobbs (resigned 17/05/24)
R Marinelli
R Nightingale (resigned 22/04/24)
J Swales (appointed 27/06/24)
F Thomson-Alberts (resigned 13/3/25)
N Watts (appointed 17/05/24 and resigned 09/09/24)
B Wright (resigned 27/06/24)
M Potterton (resigned 15/03/24)
Company Registration Number 01499927
Charity Registration Number 281820
Registered Office William & Patricia Venton Centre
Astor Drive
Mount Gould
Plymouth
Devon
PL4 9RD
Chief Executive Officer David Wood (resigned 31/05/24)
Richard Baker (appointed 1/1/25)
Secretary David Wood (resigned 31/05/24)
Richard Baker (appointed 13/3/25)
Auditor PKF Francis Clark
Statutory Auditor
Melville Building East
Unit 18, 23 Royal William Yard
Plymouth
Devon
PL1 3GW
Bankers National Westminster Bank Plc
740 Waterside Drive
Aztec West
Almondsbury
Bristol
BS99 5BD
Investment advisors Close Asset Management Limited
10 Crown Place
London
EC2A 4FT

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Plymouth Age Concern

Reference and Administrative Details

Investment advisors

Brewin Dolphin Limited 12 Smithfield Street London EC1A 9LA

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Plymouth Age Concern

Trustees' Report

The Trustee's, who are directors for the purposes of company law, present the annual report together with the financial statements and auditor's report of the charitable company for the year ended 31 March 2025.

The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

The Charity also trades under the name Age UK Plymouth.

Objectives and activities

a. Policies and objectives

The Charity’s objectives were set out in the Articles of Association when it was established and are now embodied in it’s Mission Statement which reads:

‘Age UK Plymouth exists to care for and work with older people and their carers in and around the City of Plymouth to improve their quality of life through the promotion of choice, opportunity and independence’.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

The Trustee's confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

b. Strategies for achieving objectives

To achieve our Mission , we aim to improve the well being of those in Later Life by;

Our Vision

Our Values

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Plymouth Age Concern

Trustees' Report

c. Activities undertaken to achieve objectives

The Board of Trustees, the Chief Executive Officer and the senior management team formally aim to undertake a review of the Charity’s aims objectives and activities each year. This normally takes place at a strategy day and the review considers what has been achieved within the previous 12 months and where the charity aligns itself within a national and local agenda that has older people at the forefront. Given the charity is enhancing current services and seeking to develop new services it is imperative that this review takes place annually, unless there are extenuating circumstances which prevent it occurring.

d. Main activities undertaken to further the Charity's purposes for the public benefit

The Charities Act 2006 introduced the requirement for Charities to show they provide public benefit. The Executive Committee refers to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the Charity’s aims and objectives each year and in planning future activities. The Trustees consider that the services delivered by the Charity very clearly provide an identifiable benefit to its service users, who are older people living in Plymouth and the surrounding area, aiming to ensure that none of that cohort of citizens is precluded from sharing in those services by reason of economic hardship. At every board meeting, Trustees discuss the public benefit that Age UK Plymouth is providing, it being raison d'etre.

The relief of those in need by reason of age has been codified as a charitable purpose by the Charities Act 2006. Age UK Plymouth interacts with over 800 older people each month through its services and is therefore playing an essential role within the City and in local communities.

The Charity helps older people to maintain their independence, enhance their quality of life, make informed choices and realise their rights. Every client is special and a client centred approach is taken throughout the Charity.

The Charity has a mixture of clients, many are able to pay fees for the services provided, whilst other receive support from Plymouth City Council or the NHS. Age UK Plymouth also provides many services which are free at the point of delivery - the Information and Advice service being an example of one which assists older people to remain in control and able to make informed choices on issues that may affect their independence, financial health and wellbeing. In addition, the Charity has a Wellbeing Hub that encourages those in the local community to drop in for individual advice and support.

Diversity and equal access to Age UK Plymouth services are extremely important to the Charity and service planning always takes account of any under represented groups.

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Plymouth Age Concern

Trustees' Report

Achievements and Performance

a. Review of activities

Services and Support

(a) Information and Advice

A free, independent and confidential information and advice on a range of issues relating to those age 50+. In particular we specialise in welfare benefits/income maximisation, consumer advice, housing advice, social care advice and home energy efficiency information.

The Information and Advice service had 6163 contacts with the local community (20% decrease from previous year). Of these clients, 760 were new clients requiring advice (12% decrease from previous year).

The Information and Advice service has been hugely successful in securing £2,726,845 in benefit income for older people across the city (18% increase from previous year) and supported 415 clients to the value of £2,029,342 with Attendance Allowance claims alone.

(b) Help at Home and Community Support

The Help at Home and Community Support service offers an essential person-centred high-quality and flexible service to people aged 50 and over, living in and around the City of Plymouth. This service is tailored to people’s individual needs and includes shopping, cleaning, assisted trips, gardening, companionship and much more. The Community Support Assistants play a vital role assisting those who need additional support enabling many to continue to live happily in their own homes whilst improving their confidence and general wellbeing.

The Help at Home and Community Support service in numerical terms supported 755 older people to continue living in their own home, maximising their independence, whilst helping with the activities of daily living. The team provided an astonishing, 27,196 visits a total of 27,813 support hours to older people during the year.

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Plymouth Age Concern

Trustees' Report

(c) Day Care / Day Opportunities

For older people who need individual additional care and support the Charity offers an outstanding day care provision. The William and Patricia Venton Day Centre operates 4 days a week (5 days since April 2025) and provides day care and day opportunities for older people, who may be physically frail, have become socially isolated or simply want to benefit from peer group support. The atmosphere within the Day Centre is always positive and a number of wonderful volunteers of all ages and backgrounds provide additional support. Providing this level of day care enables carers the time and the opportunity to have some free time or respite and allows them to focus their endeavours elsewhere.

The Day Centre offers a range of events, activities, singalongs, competitions, quizzes and more all geared towards stimulating the mind and body and improving the wellbeing and mental health of those attending. There is a three-course quality and freshly cooked meal provided every day and clients eat this in a newly refurbished dining room. The ability to use our podiatry and hairdressing service has been well received by clients.

As well as a variety of activities available within the service, clients and their carers can choose from a menu of social, leisure and learning opportunities to meet their identified abilities and preferences. Service users are regularly consulted on the quality of service and the proposed programme of activities via service user forums and service user questionnaires. Feedback is so important.

During 2024/25, there were 2,702 attendances (7% increase from previous year) at the William & Patricia Venton Day Centre. This level of attendance is an indicator of the need and quality of the service provided.

(d) Dementia Day Centre

The Dementia Day Centre is based in the William Venton Centre in Plymstock and provides a range of specialist dementia services and activities for people over the age of 50 who have memory loss, cognitive impairment and dementia. The atmosphere within the Dementia Day Centre is always buoyant and a number of wonderful volunteers of all ages and backgrounds provide additional necessary support. Providing this level of dementia day care enables carers the time and the opportunity to have some free time or respite and allows them to focus their endeavours elsewhere. The Dementia Day Centre has both the client and the carer at the heart of the service and operates five days per week. There is a high quality two course freshly cooked meal provided every day and individual preferences are easily catered for.

There are a variety of activities available within this service and clients can benefit from a menu of social, leisure and learning opportunities to meet their identified abilities and preferences. Carers are regularly consulted on the quality of service and the proposed programme of activities via service user forums and service user questionnaires. The Dementia Day Centre provides a level of excellence that meets the needs of the clients, but equally provides much needed respite for their carers. The relationships between staff, volunteers and the clients and their carers is first class.

During 2024/25 there were 3,050 attendances at the Dementia Day Centre. This level of attendance is a great indicator of the need and the demand for the service.

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Plymouth Age Concern

Trustees' Report

(e) Short-Term Care Centre

Since the Short-Term Care Centre (STCC) opened it acted as a catalyst enabling a great deal of effective service development to take place throughout the year and has made an enormous difference to the flow of patients from hospital to home throughout the City and it has been lauded for its effectiveness and impact.

It continued to be an excellent development and the STCC helped people recover from illness and reduces the time spent in hospital to the benefit of the individual and others needing hospital treatment. The STCC was operated in partnership with Livewell Southwest and had 24 en-suite bedrooms providing a safe place for patients to stay after they have been in hospital. This could be for anything up to four weeks and the aim is that when people leave the STCC they are feeling much better and ready to go home and to live as independently as possible. Age UK Plymouth provided all the catering requirements within the STCC and this includes breakfast, dinner and an evening provision. The Charity also worked seamlessly with Livewell Southwest providing a housekeeping and maintenance service that ensures that the daily needs of patients are met in the most constructive and joined up manner.

Unfortunately, Age UK Plymouth were informed in April 2025 that NHS Devon had taken the decision to close the Short-Term Care Centre service from May 2025.

(f) Discharge Support

The advent of the STCC has acted as a catalyst for change and for providing the opportunity to deliver new services. Age UK Plymouth provides support to patients being discharged from the STCC, from Mount Gould and Derriford Hospital. The support the charity provides is person centred and is tailored to meet the needs of the individual patient. Age UK Plymouth supports patients who live within the City of Plymouth being discharged on either pathway 0 or pathway 1. The service includes shopping, cleaning, simple food preparation picking up prescriptions, confidence building, benefits check, the opening of mail, companionship and much more. It has become such an important component of the discharge provision across the City and has quickly become one of the most crucial services provided by Age UK Plymouth.

In the year ended March 31st 2025 Age UK Plymouth provided packages of care to 745 patients being discharged from the STCC, Mount Gould or Derriford Hospital. This equates to 6,735 hours of support enabling a smoother transition home and a reduction in the pressure exerted on NHS services across the City. The support provided to those in need cannot be underestimated.

(g) Veterans Support

Age UK Plymouth has been fortunate to have received financial support from the Armed Forces Covenant Trust and this year introduced a counselling and wellbeing support service for Veterans over the age of 50 living or working in Plymouth. This free and friendly service has been provided to help Veterans access the support they require to build and maintain good mental health.

The Charity saw 3,577 Veterans attendances across the year with 2,316 attending “Sticky Bun” mornings on a Tuesday. In addition, 828 Veterans attended the weekend brunches and 433 were involved with the walking football service. The development of our Veterans services has been incredibly welcome and has exceeded original expectations. The Charity has received enormous support from those attending.

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Plymouth Age Concern

Trustees' Report

(h) Wellbeing Hub

The Wellbeing Hub continues to develop and prosper and as part of Plymouth’s integrated wider network of Wellbeing Hubs, all supported by Plymouth City Council. The Wellbeing Hub has an ageing well focus and promotes activities, workshops and events including a Friday “Community Cuppa” session that is well supported and vital to so many from a companionship perspective. As well as having a dedicated IT, befriending and phone friends service the Wellbeing Hub provides an outreach into the most at need areas of Plymouth, campaigns to raise awareness of loneliness, promotes and signposts older people to local available services. The Wellbeing Hub also provides advice with managing long term health conditions through a partnership with Livewell Southwest that enables drop-in sessions for health checks to be made available in the community. Importantly we are also able to facilitate the delivery of vaccines from local health providers to the community.

(i) Volunteering

Age UK Plymouth began its work in 1942 as a Charity which was operated entirely by volunteers. Today the support of volunteers remains crucial to the Charity’s continued success. The Charity provides a Volunteer Service which offers a variety of rewarding opportunities to people of all ages. Volunteers gain new skills and experience, and the Charity and the clients benefit from their involvement in our service provision. Our volunteer service also provides excellent opportunities for those people seeking practical experience to prepare them 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 clients really do engage in a manner that adds so much value to the overall volunteering experience.

At the end of March 2025, the charity had 42 registered volunteers who contributed thousands of hours of volunteer support. This does not include corporate volunteers who have supported the charity throughout the year on a range of activities including maintenance of the William and Patricia Venton Centre.

(j) External Relationships

The Charity continues to work to develop mutually beneficial relationships and partnerships in Plymouth and beyond.

The Charity has maintained and developed close working and very effective relationships with Plymouth City Council. This is mirrored by regular contact with the city’s Members of Parliament. In addition, the Charity has excellent relationships with the NHS Commissioners.

Age UK Plymouth places high importance upon working with and learning from other voluntary and community sector organisations in the city.

Age UK Plymouth works in association with the thirteen other Age UKs in the South West, and retains a good and improving close working relationship with Age UK at a national level.

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Plymouth Age Concern

Trustees' Report

b. Equal opportunities and fair access statement

Age UK Plymouth is completely opposed to all forms of unlawful and unfair discrimination and is committed to ensuring that no person (employee, volunteer, service user or other) will be treated unfairly by the Charity because of a protected characteristic:

Our commitment to equality and diversity is laid down in the Charity’s Equality and Diversity Policy.

c. Safeguarding of adults statement

Age UK Plymouth will not tolerate any form of abuse and believes that all older people should be able to live in an environment which is safe from abuse. The Charity will ensure that individual rights and organisational values are promoted and upheld in their work with older people. Any allegations or suspicion of abuse will be reported and investigated. In order to safeguard adults at risk of harm who use the Charity’s services, robust, safe recruitment procedures will be carried out in relation to all staff and volunteers according to the Charity’s Safeguarding of Adults Policy. The Charity also has a formal written policy for the safeguarding of children. The Charity’s Safety, Quality, Services Committee meets regularly and this group comprises trustees and senior staff members.

Financial review

a. Going concern

The Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the Going Concern basis in preparing the financial statements. Further details regarding the adoption of the Going Concern basis can be found in the accounting policies. It is the intention of the trustees that the Going Concern accounting policy will be used by the Charity going forward.

The Charity made a loss of £302,851 over the year and it has been a challenging trading period with more clients requiring support through the continued cost-of-living crisis. The increasing volume of activity is seen as a hugely positive development as Age UK Plymouth embeds itself further in the City. Net current assets have increased from £58,076 to £134,410 and this is a welcome development.

It is noted that the cost of charitable activities exceeds the income from such charitable activities and the trustees are aware of the need to enhance the flow of unrestricted income. This remains a high priority for the Charity.

The Charity has been loss making in previous years and whilst facing and dealing with a number of challenges has been forecasting future deficits.

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Plymouth Age Concern

Trustees' Report

In January 2025 a new CEO joined the charity. In March 2025 the board of trustees agreed a restructure proposal that would see the closure of the Help at Home service and a reduction in our business services teams in response to the reduced size of the organisation. The service had struggled to achieve full cost recovery for a number of years and the charity deemed that it was no longer viable to subsidise the service. The trustees also proposed to release £626,600 from the endowment fund, which was agreed by the Charity Commission in the following year 2025/26. At the same time the trustees used their powers to borrow £125,000 from the endowment fund in 2024/45 to ensure appropriate levels of cash-flow (this £125,000 is included in the total £626,600 released post year end). Whilst this borrowing was agreed and is reflected in the accounts, the charity did not need to access these funds in the financial year and the obligation to repay the loan to the endowment has been dissolved in the financial year 2025/26. Cash-flow in the charity has improved since and the charity is now in a stable position, forecasting a significantly smaller deficit for the coming year.

The Trustees along with the senior management team and the Finance and Investment Committee will continue to scrutinise 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 cashflow issues that may be faced in a difficult trading period. The Finance and Investment Committee meets quarterly and reviews the performance of the Charity.

The Trustees believe that the Charity has made substantial progress as it has continue to evolve in 2024/25. In addition, the trustees are delighted with the progress made in both Day Centres, the development of new services such as Discharge Support and the increasingly successful Information and Advice service.

b. Reserves policy

The Charity needs to hold reserves for the following principal reasons:

i. To produce income to be used for funding such deficits as arise from the Charity’s operations; ii. To meet any deficits not covered by income in any one year;

iii. To meet major items of unforeseen expenditure;

iv. To meet the costs of necessary building refurbishment, repairs and renewals;

v. To enable the Charity to continue its core operations for a period of at least six months, even in the event of major withdrawal of external funding.

The Charity will therefore endeavour to maintain a level of reserves appropriate to the financial climate in which it is operating, with particular reference to potential major financial risks (such as loss of funding) and the Charity’s commitment to the many people it serves.

The Charity recognises that investments held within its unrestricted funds are technically available to be spent on the general purposes of the Charity but recognises also that the usage of the investments in this manner would correspondingly reduce their income earning capacity.

Free reserves as at 31 March 2025 amounted to £103,839 (2024: £58,076). The Charity considers that its present level of free reserves satisfies the criteria set out above, and no action is deemed to be necessary at the present time to change these levels.

The Charity will review both the level of its reserves and its policy on reserves bi-annually.

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Plymouth Age Concern

Trustees' Report

c. Material investments policy

The Charity has a formal Investment policy in place (TR 003) which is reviewed periodically by the Executive Committee.

The investments are held as a long term reserve against any future shortfall in income against expenditure.

• Age UK Plymouth’s investment objective is to maintain and, if possible, enhance the real value of the reserves represented by its investments

• Age UK Plymouth requires an income in order to fulfil its charitable purposes. This income should be consistent with market conditions.

• Age UK Plymouth aims to achieve the best financial return within the level of risk considered to be acceptable.

d. Ethical Investment

The Charity will not knowingly invest in a company or product which will have a detrimental effect on the health or potential wellbeing of older people.

The Charity will not directly invest in tobacco industries.

e. Principal funding

The Charity’s principal funding sources are:

• Statutory authority funding for block contracts for our Day Centres and Discharge Service

Charges are made for each of the Charity’s main services - Day Care, Dementia Day Care and Help at Home. These are reviewed annually to reflect rising costs, whilst considering the Charity’s ethos and core values.

Investment income arises from the Charity’s investment portfolios. All investments are held in securities quoted on the London Stock Exchange, and each of the two major portfolios are managed on a discretionary basis by two different investment managers, who normally meet with the Finance and Investment Committee of the Charity on an annual basis.

All income from investments, together with interest on cash deposits, is used towards meeting the costs of providing services.

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Plymouth Age Concern

Trustees' Report

f. Review of 2024-2025

The Statement of Financial Activities shows the Incoming Resources of the Charity, Resources Expended during the year, the various transfers between Funds and the Fund balances at the year end.

Incoming resources in total amounted to £2,181,036 which is £223,551 more than the previous year. This is an incredibly encouraging development.

Resources expended amounted to £2,480,630 which is £104,415 more than the previous year and reflects the increased level of activity across the charity. The net incoming resources after also adding losses on investments of £3,257 (2024: gain of £19,017) were a loss of £302,851 (2024: loss of £399,713).

The figures show an improvement on financial performance compared to the previous year, but also evidence the continued effect of the cost-of-living crisis that is impacting across the country for individuals, families, communities, trusts, foundations and the corporate sector. The cost-of-living crisis and an ageing population operating in tandem means there is a continued increasing need to support older people locally. It is a challenging climate to operate within.

Resources expended break down into 98.43% spent on the direct provision of Charitable Activities,1.57% on Costs on Generating Funds.

The Balance Sheet as at 31 March 2025 shows that the Net Assets of the Charity have decreased by £302,851 to £1,975,115 reflecting the items detailed above.

All of the assets of the Charity are held for the purpose of the provision of its services. The movements in fixed assets during the year are set out in note 14 to the financial statements. The tangible fixed assets figure of £1,039,851 represent the written down value of the buildings, vehicles, furniture and equipment owned or leased by the Charity.

The Investments of £800,854 are held for the purposes of providing income to defray the expenses of the Charity’s services. Interest on cash and bank deposits is used for the same purpose. All investments have been acquired in accordance with the powers contained in the Articles of Association.

The position of the Endowment Funds, Restricted Funds and Unrestricted Funds as at 31st March 2025, reflects the operation of the Heads of Agreement and the funds released under Section 282 Charities Act, as set out in note 19 to the Accounts.

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Plymouth Age Concern

Trustees' Report

a. Constitution

Age UK Plymouth is registered as Plymouth Age Concern, a Charity (No. 281820) and a Company Limited by guarantee (No. 1499927). The Charity was incorporated as a Company on 4th June 1980.

The Charity is governed by its Articles of Association dated 28 September 2011. In the event of the Charity being wound up, Members are required to contribute an amount not exceeding £1.

Trustees will ensure that the Charity makes use of the Self-Assessment Form that is contained within the Charity Governance Code as part of its commitment to good and improved governance.

b. Methods of appointment or election of Trustees

All the powers of the Charity are vested in the Executive Committee, which is responsible for the proper management of the Charity. For the purposes of the Charities Act 2006, the Members of the Executive Committee are the Trustees of the Charity; for the purposes of the Companies Act 2006, the Members of the Executive Committee are also the Directors of the Company. The Executive Committee must consist of between 5 and 15 members, who may only be appointed from amongst the membership of the Charity.

The directors of the company are also charity trustees for the purposes of charity law and under the company’s Articles are known as members of the Executive Committee. There were 8 Trustees on the Executive Committee of Age UK Plymouth as at 31 March 2024. The Articles of Association set out the conditions under which trustees are appointed and describe the election process:

“The Trustees when complete consist of at least five and not more than 15 persons who being individuals are over the age of 18, all of whom must support the Objects, be a Member and have signed a written declaration of willingness to act as a charity trustee of the Charity. If any Trustee is a corporate body it must act through a named representative whose contact details are notified to the Trustees and there must be at least one individual Trustee” (20.1).

Trustees are elected by the Members or co opted by the Trustees (20.2). The Charity may by ordinary resolution appoint a person who is willing to act to be a Trustee and determine the rotation in which any additional Trustees are to retire (20.3). The Trustees may at any time co opt any individual who is eligible (20.1) as a Trustee to fill a vacancy in their number or (subject to the maximum number permitted by Article 20.1) as an additional Trustee.” (20.4).

The Executive Committee recognises the importance of maintaining the balance of skills and professional backgrounds and seeks to ensure that awareness of the needs of older people in Plymouth and the best interests of the Charity is reflected in the makeup of the trustee body. This is achieved through formal recruitment and selection processes which take account of the specific trustee skills required. The Charity also ensures that the recruitment process takes full account of equality and diversity and that the Trustee Board reflects the community in which it serves.

All members of the Executive Committee give their time voluntarily and receive no benefits from the Charity.

The Board of Trustees can also appoint honorary officers from amongst its members (President and Vice President) and are also responsible for nominating the Charity’s Patron(s).

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Plymouth Age Concern

Trustees' Report

c. Organisational structure and decision making policies

The Executive Committee have overall responsibility for the governance of the Charity. It meets at least four times a year and is supported by the Finance and Investment Committee and the Services, Quality, Safety Committee. All Committees are comprised of members of the Executive Committee.

The Chief Executive Officer leads the Senior Management Team in the day-to-day management of the Charity, working within the financial framework, procedures and policies laid down by the Executive Committee.

Each main area of the Charity’s work is headed by an appropriately trained member of staff/manager who, in turn, is responsible to the Senior Management Team.

As at 31st March 2025 the Charity employed 103 paid staff, of which 28 were full time employees, 75 were part time, together with 42 registered volunteers.

The Charity prepares an Annual Plan and Budget each year, and its operation, expenditure and income are reviewed regularly to monitor compliance or otherwise.

d. Policies adopted for the induction and training of Trustees

The Charity aims to ensure that everyone interested in standing as a Trustee is fully informed of what the role involves and this is reflected in the recruitment and induction process.

New Trustees attend an induction session at the Charity’s head office and at the William Venton Centre and are also offered a guided tour of all Charity services by the Chair and/or the Chief Executive Officer.

The induction session includes:

•An overview of the organisation, its culture 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 including the Articles of Association, the last audited accounts and annual review.

*Future plans and objectives

*Meeting the Heads of all Departments and visits to the Day Centre, Dementia Day Centre and Short-Term Care Centre

It is intended that all new Trustees receive a comprehensive induction pack which includes a trustee handbook, information relating to the above and information from the Charity Commission on the responsibilities of Trustees. Trustees also attend training courses and legal seminars to maintain and enhance their charity law knowledge.

e. Related party relationships

Age UK Plymouth (registered as Plymouth Age Concern) is an independent charity, although it is a Brand Partner of Age UK the National Charity and a member of the Age England Association.

The Charity has one wholly owned subsidiary company ‘Plymouth 50+ Ltd’ which is currently a dormant company.

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Plymouth Age Concern

Trustees' Report

f. Financial risk management

The Board of Trustees have overall responsibility for ensuring that the Charity has an appropriate system of controls, including financial controls. The Charity’s systems of internal control are designed to provide reasonable assurance against material financial loss to the Charity.

A formal risk management register and action plan is in place across the charity, which is reviewed and tested bi-annually. Risks are also mitigated through policies and procedures covering all areas of operational practice.

The Finance and Investment Committee oversees the work on risk management, reviewing the risk register, and making recommendations to the Board of Trustees when appropriate. The Chief Executive Officer presents the risk register to the Board of Trustees at every meeting.

Plans for future periods

In the absence of a Chief Executive Officer until January 2025, the Chair of the Board worked closely with the trustees and the senior management team to ensure that the charity continued to operate effectively, meeting the needs of our beneficiaries. Since our new Chief Executive Officer joined the charity in January 2025, the charity has begun planning for future periods. There has been a lot of change in the charity in the last nine months. This has resulted from planned changes to services and staffing agreed by the trustee board, but also in response to changes in the services commissioned by NHS Devon. The charity has been agile in its response to these changes, adapting to change and evolving to meet the needs of its clients.

The charity has drafted a three-year strategic plan which covers 2025/26-2028/29. This will focus on three phases to Plan, Transform, and Deliver improvement across the organisation. We are now undertaking work to ensure that this strategy reflects the voices and needs of the full demographic which the charity exists to serve. This includes increasing the provision of services for the 50-67 years age bracket.

Aligned with the three-year strategy document will be a:

Disclosure of information to auditor

Each member has taken steps that they ought to have taken as a member in order to make themselves aware of any relevant audit information and to establish that the Charity's auditor is aware of that information. The Trustee's confirm that there is no relevant information that they know of and of which they know the auditor is unaware.

Small companies provision statement

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

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Plymouth Age Concern

Trustees' Report

11 December 2025 The annual report was approved by the Trustee's of the Charity on .................... and signed on its behalf by:

......................................... M Creek - Chair Trustee

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Plymouth Age Concern

Statement of Trustee's' Responsibilities

The Trustee's (who are also the directors of Plymouth Age Concern for the purposes of company law) are responsible for preparing the Trustee's' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the Trustee's to prepare financial statements for each financial year. Under company law the Trustee's must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustee's are required to:

The Trustee's are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustee's are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

11 December 2025 Approved by the Trustee's of the Charity on .................... and signed on its behalf by:

......................................... M Creek - Chair Trustee

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Plymouth Age Concern

Independent Auditor's Report to the Members of Plymouth Age Concern

Opinion

We have audited the financial statements of Plymouth Age Concern (the 'Charity') for the year ended 31 March 2025, which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

The Trustee's are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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Plymouth Age Concern

Independent Auditor's Report to the Members of Plymouth Age Concern

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

We have nothing to report in this regard.

Opinion on other matter prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of Trustee's

As explained more fully in the Statement of Trustee's' Responsibilities (set out on page 17), the Trustee's are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustee's determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

Auditor responsibilities for the audit of the financial statements

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

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Plymouth Age Concern

Independent Auditor's Report to the Members of Plymouth Age Concern

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

We considered those laws and regulations that have a direct impact on the preparation of the financial statements, including, but not limited to FRS 102 (effective 1 January 2019) - (Charities SORP), the Companies Act 2006 and the Charities Act 2011. In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the charity’s ability to operate or to avoid a material penalty.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks related to fraudulent financial reporting, in particular to grant funding received.

Audit procedures performed by the engagement team include, but were not limited to, discussions and inquiries with management of compliance with laws and regulations (specifically CQS for Care Quality, QAA for advice, Food safety and Health and safety regulations), reviewing grant funding agreements, and reviewing board minutes and significant legal costs incurred in the year. We also addressed the risk of management override of internal controls, including testing of journals and evaluating whether there was evidence of bias by the Trustees that represented a risk of material misstatement due to fraud.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements. This risk increases the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements as we are less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment, collusion, omission or misrepresentation.

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

Use of our report

This report is made solely to the charitable company's Trustee's, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charity's Trustee's those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its Trustee's as a body, for our audit work, for this report, or for the opinions we have formed.

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Plymouth Age Concern

Independent Auditor's Report to the Members of Plymouth Age Concern

----- Start of picture text -----
......................................
----- End of picture text -----

...................................... Louise Bridgett (Senior Statutory Auditor) For and on behalf of PKF Francis Clark, Statutory Auditor

Melville Building East Unit 18, 23 Royal William Yard Plymouth Devon PL1 3GW 16 December 2025 Date:.............................

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Plymouth Age Concern

Statement of Financial Activities for the Year Ended 31 March 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
3
Charitable activities
4
Investment income
5
Other income
6
Total income
Expenditure on:
Raising funds
7
Charitable activities
8
Total expenditure
Gains/(losses) on
investments
Net (expenditure)/income
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
20		 Unrestricted
funds
£
119,306
1,854,989
6,343
40,451
2,021,089
(32,994)
(2,282,185)
(2,315,179)
92,664
(201,426)
344,425
142,999
408,184
551,183		 Restricted
funds
£
91,782
44,904
-
-
136,686
(22)
(104,372)
(104,394)
-
32,292
(28,000)
4,292
53,034
57,326		 Endowment
funds
£
-
-
23,261
-
23,261
(5,982)
(55,075)
(61,057)
(95,921)
(133,717)
(316,425)
(450,142)
1,816,748
1,366,606		 Total
2025
£
211,088
1,899,893
29,604
40,451
2,181,036
(38,998)
(2,441,632)
(2,480,630)
(3,257)
(302,851)
-
(302,851)
2,277,966
1,975,115

The notes on pages 26 to 46 form an integral part of these financial statements. Page 22

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Plymouth Age Concern

Statement of Financial Activities for the Year Ended 31 March 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
3
Charitable activities
4
Investment income
5
Other income
6
Total income
Expenditure on:
Raising funds
7
Charitable activities
8
Total expenditure
Gains/(losses) on
investment assets
Net expenditure
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
20		 Unrestricted
funds
£
131,695
1,613,771
11,540
20,805
1,777,811
(17,327)
(2,109,418)
(2,126,745)
(19,180)
(368,114)
(368,114)
776,298
408,184		 Restricted
funds
£
93,549
60,141
-
-
153,690
-
(182,230)
(182,230)
-
(28,540)
(28,540)
81,574
53,034		 Endowment
funds
£
-
-
25,984
-
25,984
(12,165)
(55,075)
(67,240)
38,197
(3,059)
(3,059)
1,819,807
1,816,748		 Total
2024
£
225,244
1,673,912
37,524
20,805
1,957,485
(29,492)
(2,346,723)
(2,376,215)
19,017
(399,713)
(399,713)
2,677,679
2,277,966

All of the Charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2025 and 2024 is shown in note 20.

The notes on pages 26 to 46 form an integral part of these financial statements. Page 23

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Plymouth Age Concern

(Registration number: 01499927) Balance Sheet as at 31 March 2025

Note
Fixed assets
Tangible assets
13
Investments
14
Current assets
Stocks
15
Debtors
16
Cash at bank and in hand
Creditors: Amounts falling due within one year
17
Net current assets
Net assets
Funds of the Charity:
Endowment funds
20
Restricted income funds
Restricted funds
20
Unrestricted income funds
Unrestricted funds
Total funds
20		 2025
£
1,039,851
800,854
1,840,705
4,476
163,213
108,244
275,933
(141,523)
134,410
1,975,115
1,366,606
57,326
551,183
1,975,115		 2024
£
1,113,956
1,105,934
2,219,890
2,837
252,994
111,373
367,204
(309,128)
58,076
2,277,966
1,816,748
53,034
408,184
2,277,966

The financial statements on pages 22 to 46 were approved by the Trustee's, and authorised for issue on .................... 11 December 2025 and signed on their behalf by:

......................................... M Creek - Chair Trustee

The notes on pages 26 to 46 form an integral part of these financial statements. Page 24

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Plymouth Age Concern

Statement of Cash Flows for the Year Ended 31 March 2025

Note
Cash flows from operating activities
Net cash income/(expenditure)
Adjustments to cash flows from non-cash items
Depreciation
7
Investment income
5
(Profit)/loss on disposal of tangible fixed assets
Revaluation of investments
Working capital adjustments
Increase in stocks
15
Decrease in debtors
16
(Decrease)/increase in creditors
17
Net cash flows from operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
13
Purchase of investments
14
Sale of investments
Income from dividends
5
Proceeds on sale of tangible fixed assets
Net cash flows from investing activities
Net decrease in cash and cash equivalents
Cash and cash equivalents at 1 April
Cash and cash equivalents at 31 March		 2025
£
(302,851)
89,244
(29,604)
(339)
3,257
(240,293)
(1,639)
89,781
(167,605)
(319,756)
(19,300)
(370,736)
672,559
29,604
4,500
316,627
(3,129)
111,373
108,244		 2024
£
(399,713)
88,434
(37,524)
563
(19,017)
(367,257)
(135)
39,739
156,750
(170,903)
(63,344)
(124,967)
310,732
37,524
3,446
163,391
(7,512)
118,885
111,373

All of the cash flows are derived from continuing operations during the above two periods.

The notes on pages 26 to 46 form an integral part of these financial statements. Page 25

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Plymouth Age Concern

Notes to the Financial Statements for the Year Ended 31 March 2025

1 Charity status

The Charity is a company limited by guarantee and does not have a share capital. Every member of the Company undertakes to contribute to the assets of the Company if it is wound up during the period he or she is a member, or within one year afterwards, for payments of debts and liabilities of the Company contracted before the time at which he or she ceases to be a member, and of the costs, charges and expenses of winding up the same and for the adjustments of the rights of contributories among themselves, such as amounts as may be required not exceeding £1. The company is registered in England and Wales and is a public benifit entity. The registered office is at The William & Patricia Venton Centre, Astor Drive, Mount Gould, Plymouth, PL4 9RD. The registered number is 01499927.

2 Accounting policies

Basis of preperation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Plymouth Age Concern meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The presentational currency is pounds sterling and the financial statements are rounded to the nearest £.

Going concern

The Trustees have reviewed the circumstances of the Charity and consider that there are adequate resources to continue its operations for the forseeable future. As a result, the Trustees have continued to adopt the going concern basis of accounting in preparing the financial statements.

A further review of the going concern status of the Charity is located within the Trustees' Report.

Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

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Plymouth Age Concern

Notes to the Financial Statements for the Year Ended 31 March 2025

Donations and legacies

Donations are recognised when the Charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the Charity before the Charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the Charity and it is probable that these conditions will be fulfilled in the reporting period.

The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.

Government Grants

Government grants are credited to the Statement of Financial Activities as the related expenditure is incurred.

Deferred income

Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:

Investment income

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

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Plymouth Age Concern

Notes to the Financial Statements for the Year Ended 31 March 2025

Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the proportion of the asset's use.

All expenditure is inclusive of irrecoverable VAT.

Raising funds

Expenditure on raising funds includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Charitable activities

Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Governance costs

These include the costs attributable to the Charity’s compliance with constitutional and statutory requirements, including audit, strategic management and Trustee's meetings and reimbursed expenses.

Tangible fixed assets

Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benifits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangilble fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement cost.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

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Plymouth Age Concern

Notes to the Financial Statements for the Year Ended 31 March 2025

Asset class Depreciation method and rate
Freehold property 2% straight line on buildings, 0% on
land
Motor vehicles 15% reducing balance
Fixtures and fittings 15% to 30% reducing balance

Fixed asset investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as 'Gains/(Losses) on investments' in the Statement of Financial Activities.

Investments in subsidiaries are valued at cost less provision for impairment.

Stock

Stocks are valued at the lower of cost and net realisable value after making due allowances for absolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Cash at bank and in hand

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

Liabilities and provisions

Liabilities 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 will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount 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 settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

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Plymouth Age Concern

Notes to the Financial Statements for the Year Ended 31 March 2025

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the Charity becomes a party to the contractual provisions of the instrument.

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

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the Charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the Charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the Charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

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Plymouth Age Concern

Notes to the Financial Statements for the Year Ended 31 March 2025

Critical accounting estimates and areas of judgement

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The preparation of the financial statements requires management to make judgements, estimates and assumptions that effect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ from thoes estimates. Whilst there is a level of assumption in these judgements, the Trustees feel these are unlikely to have a significant effect on, or cause material error to the amounts recognised in the financial statements.

Management exercise judgement in the recognition of income from legacies. Judgement is applied to establish entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable.

3 Income from donations and legacies

Donations from individuals
Legacies
Grants		 Unrestricted
funds
General
£
45,749
1,860
71,697
119,306		 Restricted
funds
£
-
-
91,782
91,782		 Total
2025
£
45,749
1,860
163,479
211,088		 Total
2024
£
51,121
80,574
93,549
225,244

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Plymouth Age Concern

Notes to the Financial Statements for the Year Ended 31 March 2025

Income from donations and legacies of £119,306 (2024: £131,695) is unrestricted and £91,782 (2024: £93,549) restricted.

4 Income from charitable activities

Care services
Short term care centre		 Unrestricted
funds
Designated
£
1,373,918
481,071
1,854,989		 Restricted
funds
£
16,904
28,000
44,904		 Total
2025
£
1,390,822
509,071
1,899,893		 Total
2024
£
1,215,389
458,523
1,673,912

Income from charitable activities of £1,854,989 (2024: £1,613,771) is unrestricted and £44,904 (2024: £60,141) restricted.

5 Investment income

Income from listed
investments		 Unrestricted
funds
General
£
6,343		 Endowment
funds
Permanent
£
23,261		 Total
2025
£
29,604		 Total
2024
£
37,524

Income from investments of £6,343 (2024: £11,540) is unrestricted and £23,261 (2024: £25,984) endowment funds.

6 Other income

Unrestricted
funds Total Total
General 2025 2024
£ £ £
Rental and other income 40,451 40,451 20,805

Other income of £40,451 (2024: £20,805) is unrestricted and £nil (2024: £nil) is restricted.

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Plymouth Age Concern

Notes to the Financial Statements for the Year Ended 31 March 2025

7 Expenditure on raising funds

a) Costs of trading activities

Fundraising Unrestricted
funds
General
£
31,227
31,227		 Restricted
funds
£
22
22		 Total
2025
£
31,249
31,249		 Total
2024
£
20,444
20,444

£31,227 (2024: £14,351) of the above expenditure was attributable to general unrestricted funds, £22 (2024: £nil) to restricted funds and £nil (2024: £6,093) to endowment funds.

b) Investment management costs

Investment management fees Unrestricted
funds
General
£
1,767
1,767		 Endowment
funds
Permanent
£
5,982
5,982		 Total
2025
£
7,749
7,749		 Total
2024
£
9,048
9,048

£1,767 (2024: £2,976) of the above expenditure was attributable to general unrestricted funds and £5,982 (2024: £6,072) to endowment funds.

8 Expenditure on charitable activities

Note
Staff costs
Allocated support
costs
9
Governance costs
9		 Unrestricted
funds
General
£
1,829,071
413,964
39,150
2,282,185		 Restricted
funds
£
62,848
41,524
-
104,372		 Endowment
funds
Permanent
£
-
55,075
-
55,075		 Total
2025
£
1,891,919
510,563
39,150
2,441,632

£2,270,565 (2024: £2,111,026) of the above expenditure was atrributable to general unrestricted funds and £11,620 (2024: £15,719) to general designated funds.

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Plymouth Age Concern

Notes to the Financial Statements for the Year Ended 31 March 2025

Unrestricted
funds
Note
General
£
Staff costs
1,678,236
Allocated support
costs
9
401,763
Governance costs
9
29,419
2,109,418
Analysis of support costs
Depreciation
Equipment purchases and maintenance
Printing, postage, stationery and advertising
Financial and admin costs
Premises costs
(Profit) / loss on disposal of fixed assets
9
Analysis of governance costs
Governance costs
Audit fees
Audit of the financial statements
Other fees paid to auditors
Legal fees		 Restricted
funds
£
139,068
43,162
-
182,230
Activity
support
costs
£
89,244
93,511
23,579
23,371
281,197
(339)
510,563
Unrestricted
funds
General
£
16,000
6,002
17,148
39,150		 Endowment
funds
Permanent
£
-
55,075
-
55,075
2025
£
89,244
93,511
23,579
23,371
281,197
(339)
510,563
Total
2025
£
16,000
6,002
17,148
39,150		 Total
2024
£
1,817,304
500,000
29,419
2,346,723
2024
£
88,434
76,112
25,497
28,091
281,303
563
500,000
Total
2024
£
15,000
4,568
9,851
29,419

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Plymouth Age Concern

Notes to the Financial Statements for the Year Ended 31 March 2025

10 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the year were:
Wages and salaries
Social security costs
Pension costs
Other staff costs		 2025
£
1,687,909
111,088
27,181
65,741
1,891,919		 2024
£
1,648,760
96,923
26,105
45,516
1,817,304

The monthly average number of persons (including senior management / leadership team) employed by the Charity during the year expressed as full time equivalents was as follows:

Average Employees 2025
No
103		 2024
No
108

The number of employees whose emoluments fell within the following bands was:

£60,001 - £70,000 2024
No
1

The total employee benefits of the key management personnel of the Charity were £251,023 (2024 - £367,541).

11 Trustee's remuneration and expenses

No Trustees, nor any persons connected with them, have received any remuneration from the Charity during the year.

No trustees have received any reimbursed expenses or any other benefits from the charity during the year.

12 Taxation

The Charity is a registered charity and is therefore exempt from taxation.

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Plymouth Age Concern

Notes to the Financial Statements for the Year Ended 31 March 2025

13 Tangible fixed assets

Cost
At 1 April 2024
Additions
Disposals
At 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
Eliminated on disposals
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Land and
buildings
£
3,191,603
-
-
3,191,603
2,258,252
58,751
-
2,317,003
874,600
933,351		 Furniture and
equipment
£
580,844
19,300
(2,517)
597,627
412,643
28,632
(2,264)
439,011
158,616
168,201		 Motor
vehicles
£
24,710
-
(9,696)
15,014
12,306
1,861
(5,788)
8,379
6,635
12,404		 Total
£
3,797,157
19,300
(12,213)
3,804,244
2,683,201
89,244
(8,052)
2,764,393
1,039,851
1,113,956

The cost of land and buildings includes non-depreciable land of £510,000 (2024: £510,000). The amount held on capital funds at the year end is the net book value of freehold land and buildings known as the William and Patricia Venton centre of £874,599 (2024: £933,351). This value was calculated by an independent surveyor in April 2019 and an impairment adjustment was made in the 2020 accounts to recognise the decrease in the building's fair value.

14 Fixed asset investments

Shares in group undertakings and participating interests
Listed investments		 2025
£
1
800,853
800,854		 2024
£
1
1,105,933
1,105,934

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Plymouth Age Concern

Notes to the Financial Statements for the Year Ended 31 March 2025

Shares in group undertakings and participating interests

Cost
At 1 April 2024
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024
Listed investments
Cost or Valuation
At 1 April 2024
Revaluation
Additions
Disposals
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Subsidiary
undertakings
£
1
1
1
1
Listed
investments
£
1,105,933
(3,257)
370,736
(672,559)
800,853
800,853
1,105,933		 Total
£
1
1
1
1
Total
£
1,105,933
(3,257)
370,736
(672,559)
800,853
800,853
1,105,933

Details of undertakings

Details of the investments in which the Charity holds 20% or more of the nominal value of any class of share capital are as follows:

Country of Proportion of voting Principal
Undertaking incorporation Holding rights and shares held activity
2025
2024
Subsidiary undertakings
Plymouth 50+ Ltd England and
Wales		 Ordinary 0%
100%		 Dormant
Company

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Plymouth Age Concern

Notes to the Financial Statements for the Year Ended 31 March 2025

15 Stock
Stocks
16 Debtors
Trade debtors
Prepayments
Accrued income
Other debtors
17 Creditors: amounts falling due within one year
Trade creditors
Other loans
Other taxation and social security
Other creditors
Accruals
Deferred income
Deferred income at 1 April 2024
Resources deferred in the period
Amounts released from previous periods
Deferred income at year end		 2025
£
4,476
2025
£
113,496
13,094
35,869
754
163,213
2025
£
23,406
5,747
24,000
59,922
26,608
1,840
141,523
2025
£
(150,701)
1,840
150,701
1,840		 2024
£
2,837
2024
£
229,214
17,254
5,412
1,114
252,994
2024
£
106,770
-
22,754
7,645
21,258
150,701
309,128
2024
£
(98,139)
150,701
98,139
150,701

18 Obligations under leases and hire purchase contracts

Operating lease commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

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Plymouth Age Concern

Notes to the Financial Statements for the Year Ended 31 March 2025

Other
Within one year
Between one and five years		 2025
£
7,214
4,724
11,938		 2024
£
5,438
8,504
13,942

19 Pension and other schemes

Defined contribution pension scheme

The Charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the Charity to the scheme and amounted to £27,181 (2024 - £26,105). Contributions totaling £5,456 (2024 - £5,133) were payable to the scheme at the end of the year and are included in creditors.

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Plymouth Age Concern

Notes to the Financial Statements for the Year Ended 31 March 2025

20 Funds
Unrestricted funds
General
General Funds
Designated
Mount Gould refurbishment
Total unrestricted funds
Restricted funds
National Grid - Community Matters
Other restricted projects
Restricted funds spent on fixed assets
Independent Age Cost of Living
Discharge Contracts
Cost of Living Response Fund
Sky Community Fund
Regi-Mental Wellbeing Club
Health & Wellbeing Donation Waitrose
HSBC DDC Refurbish dining room
Norman Family Charitable Trust
STCC Maintenance Fund
Well Being Hub Funding		 Balance at 1
April 2024
£
231,944
176,240
408,184
3,243
148
11,808
5,353
1,875
5,000
499
5,200
112
225
17
19,553
-		 Income
£
2,021,089
-
2,021,089
-
-
-
-
-
7,500
-
32,836
-
-
-
-
16,904
Page 40		 Expenditure
£
(2,303,559)
(11,620)
(2,315,179)
(3,243)
(139)
(3,277)
(5,353)
(1,875)
(12,500)
(328)
(33,634)
(112)
-
(17)
(15,524)
(16,904)		 Transfers
in/out
£
437,089
-
437,089
-
-
18,286
-
-
-
-
-
-
-
-
(1,000)
-		 Gains/
(losses)
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Balance at 31
March 2025
£
386,563
164,620
551,183
-
9
26,817
-
-
-
171
4,402
-
225
-
3,029
-

Docusign Envelope ID: 6CBF0856-F8A1-41B8-AA59-64EB65494AF2Docusign Envelope ID: 3223151A-0EB1-48B0-8F87-E9E55E7455D0

Plymouth Age Concern

Notes to the Financial Statements for the Year Ended 31 March 2025

C & J Clark Limited Employees 1922 Trust
Francis Winham Foundation
Sky Community Fund 24 - Dig and Dine
One Stop Community - Groundwork UK
Arnold Clark Community Fund
The Grace Trust
The Clare Milne Trust
STCC Maintenance Fund 2024-25
The Hobson Charity
Percy Bilton Charity
Simpson Charitable Trust
National Grid Electricity Distribution - Community
W O Street Charitable Foundation
Co-op Local Community Fund
The D'Oyly Carte Charitable Fund
Total restricted funds
Endowment funds
Permanent
William and Patricia Venton Centre Endowment
Fund
Total funds		 Balance at 1
April 2024
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
53,033
1,816,748
2,277,965		 Income
£
5,000
6,420
2,500
1,000
500
3,000
7,000
28,000
8,095
4,168
1,000
5,000
3,000
500
4,263
136,686
23,261
2,181,036		 Expenditure
£
(1,879)
(2,793)
-
(1,000)
(230)
-
(835)
-
-
-
-
(4,750)
-
-
-
(104,393)
(61,057)
(2,480,629)		 Transfers
in/out
£
-
(680)
-
-
-
-
(4,343)
(28,000)
(8,095)
(4,168)
-
-
-
-
-
(28,000)
(409,089)
-		 Gains/
(losses)
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(3,257)
(3,257)		 Balance at 31
March 2025
£
3,121
2,947
2,500
-
270
3,000
1,822
-
-
-
1,000
250
3,000
500
4,263
57,326
1,366,606
1,975,115

Page 41

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Plymouth Age Concern

Notes to the Financial Statements for the Year Ended 31 March 2025

The specific purposes for which the funds are to be applied are as follows:

Designated funds

£176,240 has been designated by Trustees from unrestricted funds for the refurbishment of the Mount Gould premises. The closing position represents the net book value of the assets at the year end.

William and Patricia Venton Centre endowment fund

The net book value of the William and Patricia Venton Centre is included under Endowment funds as it was part of the original gift, along with the Brewin Dolphin investment portfolio value. At the year end there was a facility to borrow £125k from the permanent endowment fund, the charity had not taken advantage of this facility at the year end.

Restricted funds

National Grid Community Matters – this fund was received from National Grid Electricity Distribution in respect of their Community Fund to support our Active Living Project.

Independent Age Cost of Living – this fund represents money received to fund a member of staff within the I&A team.

Discharge Pilot – this represents funding from PCC to enable the support of discharges from Hospital with the aim of reducing pressures faced by the NHS, freeing up domiciliary care workers and supporting patients to return to independent living.

Cost of Living – this fund is received from AGE UK to fund staff who provide support to those with the rising cost of living.

Sky Community Fund – this fund represents monies received for planters for the garden and other gardening equipment from Sky.

Regi Mental Wellbeing Club – this fund received from The Armed Forces Covenant Fund Trust, allows us to run our wellbeing veterans project to enable social engagement, reduce loneliness and support with mental health.

Waitrose Health & Wellbeing - this represents funding towards our Indoor Garden at the Day Centre received from Waitrose.

HSBC DDC Refurb Dining Room - this fund represents monies received from HSBC to help refurbish to dining room at the Dementia Day Centre.

Norman Family Charitable Trust - this fund received from The Norman Family Trust was used to assist with the purchase of new chairs for the Day Centre.

STCC Maintenance Fund - this represents funds received from NHS Devon for the repairs and maintenance of the Short-Term Care Centre.

Well Being Hub - this represents monies received from PCC to fund the Wellbeing Hub advisor for 2023/24.

Page 42

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Plymouth Age Concern

Notes to the Financial Statements for the Year Ended 31 March 2025

C & J Clark Employees 1922 Trust - A Fund to support energy bills to help reduce energy costs and a Discretionary Fund to support Emergency Costs that may arise.

Francis Winham Foundation -To Fund the purchase of Day Centre Chairs.

Sky Community Fund 24 - To fund that start up of a Dig n Dine Club.

One Stop Community - Groundwork UK - To Support Emergency Food Parcels using the Discharge Service.

Arnold Clark Community Fund a fund towards the re-upholstering of new chairs and tables for the Lemon Room.

The Grace Trust - a fund to support the replacement of Old Furniture.

The Claire Milne Trust - a fund to improve the Kitchen facilities at WPVC.

The Hobson Charity - this fund was received to assist with repairs of the facilities at Age UK Plymouth specifically the renewal of the flooring in the Lemon Room, Day Centre corridor and hairdressing suite along with replacing 2 radiators to be dementia friendly ones.

Simpson Charitable Trust - this fund was received to help support running costs of our Forget Me Nots service.

Percy Bilton Charity - this represents monies received to put towards the purchase of an activity touch screen for use in the Lemon Room.

National Grid Community Matters 2024 - this fund was received to distribute warm packs and energy efficient measures to the community.

W O Street Charitable Foundation - this fund was received to support the improvements of the Lemon Room.

Coop Local Community Fund - this is a local fund which has been awarded for use in Forget Me Nots.

The D’Oyly Care Charitable Fund - a fund to support Dementia Friendly Music Sessions.

Page 43

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Plymouth Age Concern

Notes to the Financial Statements for the Year Ended 31 March 2025

Unrestricted funds
General
General Funds
Designated
Mount Gould
refurbishment
Total
unrestricted
funds
Restricted
Funds
National Grid -
Community
Matters
Other restricted
projects
Restricted
funds spent on
fixed assets
Independent
Age Cost of
Living
Discharge
Contracts
Cost of Living
Response Fund
Plymouth
Veterans Club
Sky Community
Fund
Regi-Mental
Wellbeing Club
National Grid -
Communirty
Matters
Health &
Wellbeing
Donation
Waitrose
HSBC DDC
Refurbish
dining room		 Balance at 1
April 2023
£
584,339
191,959
776,298
5,078
2,689
15,066
11,070
36,651
10,000
1,020
-
-
-
-
-		 Income
£
1,777,811
-
1,777,811
-
-
-
20,000
12,960
22,500
-
2,500
32,836
3,929
400
484		 Expenditure
£
(2,111,026)
(15,719)
(2,126,745)
(1,835)
(2,540)
(3,258)
(25,717)
(47,736)
(27,500)
(1,020)
(2,001)
(27,636)
(3,929)
(288)
(259)		 Gains/
(losses)
£
(19,180)
-
(19,180)
-
-
-
-
-
-
-
-
-
-
-
-		 Balance at 31
March 2024
£
231,944
176,240
408,184
3,243
149
11,808
5,353
1,875
5,000
-
499
5,200
-
112
225

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Docusign Envelope ID: 6CBF0856-F8A1-41B8-AA59-64EB65494AF2Docusign Envelope ID: 3223151A-0EB1-48B0-8F87-E9E55E7455D0

Plymouth Age Concern

Notes to the Financial Statements for the Year Ended 31 March 2025

Balance at 1
April 2023
£
Income
£
Welcome
Spaces
-
3,400
Screwfix
Foundation Day
Centre
-
5,000
Norman Family
Charitable Trust
-
2,500
STCC
Maintenance
Fund
-
28,000
Well Being Hub
-
19,181
Total restricted
funds
81,574
153,690
Endowment funds
Permanent
William and
Patricia Venton
Centre
Endowment
Fund
1,819,807
25,984
Total funds
2,677,679
1,957,485
21 Analysis of net assets between funds
Unrestricted
funds
£
Tangible fixed assets
322,344
Fixed asset investments
125,000
Current assets
245,362
Current liabilities
(141,523)
Total net assets
551,183		 Expenditure
£
(3,400)
(5,000)
(2,483)
(8,447)
(19,181)
(182,230)
(67,240)
(2,376,215)
Restricted
funds
£
26,754
-
30,572
-
57,326		 Gains/
(losses)
£
-
-
-
-
-
-
38,197
19,017
Permanent
Endowment
fund
£
690,753
675,853
-
-
1,366,606		 Balance at 31
March 2024
£
-
-
17
19,553
-
53,034
1,816,748
2,277,966
Total funds
2025
£
1,039,851
800,853
275,934
(141,523)
1,975,115

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Docusign Envelope ID: 6CBF0856-F8A1-41B8-AA59-64EB65494AF2Docusign Envelope ID: 3223151A-0EB1-48B0-8F87-E9E55E7455D0

Plymouth Age Concern

Notes to the Financial Statements for the Year Ended 31 March 2025

Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Total net assets
22 Analysis of net funds
Cash at bank and in hand
Net cash		 Unrestricted
funds
£
164,959
185,149
367,204
(309,128)
408,184		 Restricted
funds
£
11,745
41,289
-
-
53,034
At 1 April
2024
£
111,373
111,373		 Permanent
Endowment
fund
£
937,252
879,496
-
-
1,816,748
Financing
cash flows
£
(3,129)
(3,129)		 Total funds
2024
£
1,113,956
1,105,934
367,204
(309,128)
2,277,966
At 31 March
2025
£
108,244
108,244

23 Related party transactions

There were no related party transactions in the year.

24 Non-adjusting events after the financial period

Post year end the Charity, as a trustee of the endowment fund used its power under s282 of the Charities Act 2011 to release two sums from the Fund of all restrictions. These were the £125,000 of borrowing made pre year end and a further £501,600

25 William and Patricia Venton Centre endowment fund

The endowment fund is made up of tangible fixed assets (property) and listed investments. On the 18th March 2025 a Trustees' Resolution under s282 of the Charities Act 2011 was passed lending of £125,000 of the fund to unrestricted charity reserves to be repaid within 20 years. The remaining transfers from the fund shown in note 20 represent the realisation of investment fund assets and a reclassification of refurbishment assets to unrestricted reserves which had been attributed to endowment funds.

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