## **Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee)**
## **Trading as Age UK Cornwall & the Isles of Scilly**
## **Trustees’ annual report and financial statements**
## **For the year ended 31 March 2024**
Company registration number 02452302 Charity registration number 900542
“Our aim is to enrich the quality of life for older people in Cornwall and the Isles of Scilly”
Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
## Contents
|Contents||
|---|---|
||_Page_|
|Members|1|
|Trustees’ annual report|2 – 14|
|Independent auditors’ report|15 – 18|
|Consolidated statement of financial activities|19|
|Company statement of financial activities|20|
|Consolidated and company balance sheets|21|
|Group statement of cash flows|22|
|Notes to the group statement of cash flows|23|
|Notes to the financial statements|24 – 42|
Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
## Members
## **Membership Includes:**
Mrs K Gannon Mrs MM Ford (resigned 19 December 2024) Mr C Garrick (resigned 19 December 2024) Mrs S Hancock (resigned 19 December 2024) Mrs AA Burley Mr PM Jefferson Mrs P Dewhurst Mrs K Carey Mrs H Cridland Mrs CA Gilmore
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Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
## Trustees’ annual report
_For the year ended 31 March 2024_
The trustees present their annual report for the year ended 31 March 2024, together with the audited financial statements for the year which are prepared to meet the requirements for a director’s report and financial statements for Companies Act purposes.
The financial statements comply with the Charities Act 2011, Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting for Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **Purpose and activities**
## **1. Our charitable purposes**
We are the voice of age in Cornwall and the Isles of Scilly. We were established in 1972 as Age Concern Cornwall and in October 2011, we became Age UK Cornwall and the Isles of Scilly, a brand partner of Age UK formed by the merger of Age Concern England and Help the Aged.
We are the leading independent charity in Cornwall and the Isles of Scilly working to improve the wellbeing of people in later life. Our organisation and its subsidiary company, Transport Access People (TAP), has five basic purposes:
- i. To provide navigation, support, products and services that promote independence, control and choice;
- ii. To provide support to communities, geographically and those of shared interest and/or identity, and volunteers so that they might offer support to individuals and families;
- iii. To improve public awareness by providing opportunities for people as they age, and in later life, to have their voices heard and by transmitting the needs and views of older people;
- iv. To support our staff teams to explore and promote new and creative ways of meeting established and newly identified needs affecting people, as they age, and in later life, their families, carers and communities; and
- v. To work in partnership with others to promote wellbeing, individual and community resilience and sustainable support and services.
## **Our vision, mission, and principles**
Our vision is about the art of what is possible; we want to make a reality of the future we all want and play an active role in nurturing communities where people have opportunities to flourish in later life.
Our mission is simple: **“to improve the wellbeing of people in later life”** and **“to inspire people and communities to age and live well”** . We will realise this through vital navigation, support and community engagement.
Our principles underpin what we do and form the backbone of our priorities and our plans.
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Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
## Trustees’ annual report
_For the year ended 31 March 2024_
## **Purpose and activities (continued)**
## _**Our principles:**_
_**We are inclusive**_ **–** we treat people as we would like to be treated ourselves and we will work with people of all ages, abilities, characteristics and lifestyles to enable and support well-being.
_**We are respectful**_ **–** we are all human beings deserving of respect from one another.
_**We are positive –**_ we focus on the positive aspects of later life and show what’s good about age. We can’t always do everything we could do when we were younger, but there are things that we can do now that we couldn’t before; things that we know now that we didn’t know before and sometimes time to do things that we couldn’t before.
_**We are truthful and realistic –**_ we are honest, even if things are sometimes difficult to say. We talk openly and directly, truthfully and naturally; we will put the needs of people in later life above the organisational self-interest and we will be honest about what works and what doesn’t.
_**We offer solutions and benefits**_ - people use and buy things that will benefit them. We provide services for people who are vulnerable, sometimes frail, isolated and lonely and we are proud of what we do. We will only provide products and services that improve quality of life.
## **Our values**
We are a value based organisation and our values guide us with our approach and our aims. They also guide our service delivery, our training and our work with our partners.
_**Caring** –_ we aim to be approachable, accessible, responsible and empathetic; caring about what people in later life think and what they need and the needs and ambitions of our staff and volunteers.
_**Effectiveness** –_ we aim to have the best standards we can in all our services, focussing clearly on our Code of Conduct, continual improvement and being open to feedback and challenge.
_**Influencing –**_ we aim to create opportunities to enable the voice of people to be heard on matters that concern them and to use their voices to change attitudes and perceptions of ageing.
_**Enabling –**_ we aim to maximise individual independence by offering people as little or as much help as they need to help themselves and by brokering solutions with and on behalf of people.
_**Innovation** –_ we aim to find new and diverse ways of doing things that meet the needs of people in later life and take managed risks in exploring new ways forward.
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Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
## Trustees’ annual report
_For the year ended 31 March 2024_
## **Purpose and activities (continued)**
## **2. Our progress**
A review of our services is available in the annual Review on our website www.ageukcornwall.org.uk. The extracts below represent a snapshot of activity, a review of key priorities and our vision for the forthcoming year.
From April 2023 to March 2024, we provided information, services, transport, and assistance to over 50,000 people. Our activity across all services was:
- 41,526 calls were answered by Gateway and our TAP teams; 99% of the actions recorded on Charitylog were considered successful.
- 504 individuals were supported by our Advice and Information team
- £946,728.64 in annualised entitlements, were realised for people we have supported
- 486 individuals were supported through our day services, and we provided 21,108 sessions
- 586 referrals for Inclusion Matters Support
- 3,266 individuals were transported and supported to their hospital appointments, through _C_ 66,297 journeys
- 17,030 journeys were provided for private passengers, and 9,659 passenger journeys were carried out on Dial-A-Ride Services
-
- 602 clients were provided with 18,438 weekly, fortnightly, or monthly Home Support services
- 237 volunteers gave up thousands of hours of time, across multiple volunteering opportunities
- 36,318 contacts were made with 7,193 Clients as recorded on Charitylog
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Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
## Trustees’ annual report
_For the year ended 31 March 2024_
## **Purpose and activities (continued)**
Over the last 12 months, we have continued our focus on creating stability and supporting people through turbulent times. This includes:
- Reviewing and reshaping parts of our organisational structure to incorporate new services and contracts.
- Reviewing the financial sustainability of all our services and identifying long-term financial plans.
- Gateway and our community wellbeing offers, with a guided conversation to support the individual to engage with the right support, are now central to our organisation’s charitable activities.
- Expanding our Gateway offer to include new services such as WorkWell and supporting national charities i.e. MS Society, Macmillan, etc
- Working with partners to grow our ability to support and navigate to the most relevant organisation, agency or group using the knowledge and contacts we have gathered.
- Establishing a network of volunteers and working with community hubs, groups, and partners to grow this resource to enable the individual, who needs a little more help, to access support and to become socially active, through peer support and confidence building.
- Focusing on conversations about “what matters to me”, connecting our services with others to shape around individual needs and wants.
- Reviewing, transforming, and strengthening our approach to business critical infrastructure requirements, including legislative compliance and quality standards.
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Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
## Trustees’ annual report
_For the year ended 31 March 2024_
## **3. Our priorities**
Our focus this year is to continue to evolve an organisational structure that is sustainable, financially balanced and creates a foundation that is fit for the future. We have four simple priorities:
- To work with partners (VCSE and statutory) to expand our Gateway and advice services into a space for people to tell their story, to navigate to the right place at the right time and create connection between statutory services and all the community can offer.
- To create sustainable and resilient care, transport connectivity and support services including working with local groups, organisations and partners to nurture a menu of support and an effective network of volunteers.
- To work in partnership to create a range of holistic activities, products and services to meet people’s and communities’ needs.
- To engage and support our staff and volunteer teams to take control of their activities, develop their skills, and prioritise their own well-being.
With our Executive Board, we have set measurements to assess success, including:
- Consistently developing and reviewing our Gateway offer to ensure that at least 95% of contacts are supported to navigate and engage with the support that matters to them – this is measured by the satisfaction of callers.
- Improving processes in volunteer recruitment to strengthen the number of volunteers supported into activities within 56 days of logging their interest with us.
- Ensuring that all staff and volunteer teams have consistent induction and support; undergoing regular surveys, focus groups and discussions to embed a culture of well-being, positive challenge, continual improvement and self-responsibility.
- Working in partnership with like-minded organisations to continue the development of a simple point of contact to community activity.
- Meet the quality standards for information and advice as identified by Age UK national. To meet the accreditation standards required to underpin our services and contracts held.
- Continue to develop an Innovation Investment plan with Trustees and our teams focusing on the development of new ideas, new ways of delivering existing services and, sustainable charging for services.
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Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
Trustees’ annual report _For the year ended 31 March 2024_
## **Purpose and activities (continued)**
## **4. Our assets**
Our ability to provide, thrive and survive is dependent on the quality of our staff team, our volunteers and on our funding.
## **Our employees**
We are blessed with a quality of employees that any organisation would be proud of. Recent years have continued to be challenging and our focus has been on striving to create a workforce that is resilient, supportive, responsible, and engaged. Our Healthy Workplace Team pursues new ways to support our teams with hybrid working and through inclusive practice; together with team meetings, newsletters, blogs and forums. We are constantly finding opportunities to engage and respond to requests, ideas, compliments, and complaints, ensuring that each is used as a mechanism for review and improvement.
## **Our volunteers**
Our work would not be possible without the commitment and contribution made by our bank of dynamic and professional volunteers who freely give their time for the benefit of seniors in the county and beyond. We have volunteers from a wide range of backgrounds making a tremendous difference to the quality of life of seniors and their families. Volunteers are the glue that holds rural communities such as ours together and we are privileged that so many decide to work with us to achieve our goals.
The charity is not just grateful but dependent on the unstinting efforts of its volunteers, including our Trustees, who are involved in all aspects of the provision of our services. The legacy from the pandemic and seemingly never-ending era of austerity continues to endure in the way volunteers want, and are able, to engage with us. It continues to impact on the availability of volunteers and the roles that they can fulfil. However, their willingness to get involved in activities that support those impacted by the contemporary challenges continues to be fantastic.
## **Our funders**
We are indebted to all those who provide legacies, donate funds and provide resources in kind to our charity and we use this resource wisely and sensitively. Without such generosity, we would not be able to provide the range of support and services to our seniors in Cornwall and the Isles of Scilly.
## **5. Our Subsidiary Companies**
## **TAP – Transport Access People**
Our TAP subsidiary company continued to generate ideas and solutions to the transport difficulties experienced by vulnerable people in Cornwall and beyond during the year. It has been referenced in several national reviews on partnership working and the subject of national interest. We are indebted to our superb Director of Transport, the transport team and volunteer drivers for their hard work, their continued ability to take on more work and their enduring commitment.
Following the loss of one of the TAP commissioned contracts, the board of directors have considered the viability of this company moving forwards and have agreed that TAP will cease to trade from 1 February 2025. The team and senior managers have been working with the support of trustees to manage this decision, mindful that there are people who rely on the service for access to health, and important, appointments.
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Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
## Trustees’ annual report
_For the year ended 31 March 2024_
## **Purpose and activities (continued)**
The future of these services is never clear with a constant rolling programme of contracting however we are confident that with appropriate adjustments to the operational model TAP can continue to offer a unique and creative solution to transport in Cornwall and beyond.
## **Age Concern Cornwall Trading**
Age Concern Cornwall Trading ceased trading at the end of March 2018.
## **Employee and service user involvement**
Employees and service users have been consulted on issues of concern to them by means of regular meetings, newsletters, and forum. Our steering groups, team meetings, newsletters and forums are opportunities to engage and respond to requests, ideas and complaints ensuring that each is used as a mechanism for review and improvement.
All staff have given outstanding and supportive service during 2023/2024. For those no longer on the “payroll” we wish them well. For those still with us, “keep up the good work”.
## **Fundraising**
Age UK Cornwall and The Isles of Scilly carries out fundraising across all areas of the charity and employs a part time Charity Fundraiser who takes responsibility for our relationship with external bodies and businesses, who promote the organisation and where corporate fundraising takes place.
Small amounts are raised by our Day Centres through fetes, raffle type activities, and sponsored events.
The Charity is registered with the Fundraising Regulator and has complied with the scheme at all times.
The Charity has not received any complaints regarding any aspect of its fundraising activities and is mindful of the need to protect vulnerable people, many of whom attend our day centres and related events.
As a charity committed to supporting people in later life, we seek to ensure that all staff and volunteers involved in the charity adhere to our Code of Conduct, which not only respects the rights and freedoms of our teams but also the people supported through all of our activities.
## **Financial review and results for the year**
The group statement of financial activities for the year is set out on page 21 of the financial statements. A summary of the financial results and the work of the charity are set out below.
## **Income generation**
The group’s income available for the charitable application increased from £3,784,959 to £4,728,651. Income from charitable activities increasing from £3,406,028 to £4,530,933. Donations and legacies decreased from £352,853 to £125,992. This level of income is a great achievement and the charity thanks all the staff and volunteers for their hard work.
## **Investment income**
Investment income has increased from £26,078 to £71,726 this year (2023: increased from £2,645 to £26,078).
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Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
## Trustees’ annual report
_For the year ended 31 March 2024_
## **Expenditure and services**
Transport Access People at a cost of £919,898 (2023: £1,008,284) and Active Living at a cost of £863,537 (2023: £610,767) continue to be a significant part of the group’s activities, as is Gateway Support Programme at a cost of £632,785 (2023: £227,158), Home & Hospital at a cost of £764,456 (2023: £344,675), Social Prescribing (Cornwall) at a cost of £415,342 (2023: £342,323) and Inclusion Matters at a cost of £139,354 (2023: £165,572).
## **Reserves policy**
Sufficient funds are required to be held in the reserves of Age UK Cornwall & The Isles of Scilly to provide:
- Working capital equivalent to between three- and six-month’s expenditure
- Protection against the unpredicted loss of funding and
- A hedge against liabilities
The Trustees have established a policy whereby the charity’s unrestricted funds not committed or invested in tangible fixed assets (‘the free reserves’) held by the charity should be between 3 and 6 months of the resources expended, which equates to £1,200,000 in general funds. At this level the Trustees feel that they would be able to continue the current activities of the charity. In the event of a significant drop in funding, it would obviously be necessary to consider how the funding would be replaced or activities changed.
At the end of March 2024, the free reserves, which amount to £1,103,986 held in the general fund, are slightly below this this range.
Sufficient reserves should be retained under each of the restricted funds to meet the charity’s obligations under that fund.
The level of reserves is monitored and reviewed by the Trustees quarterly and forms part of the responsibilities of the Finance Sub Committee.
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Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
## Trustees’ annual report
_For the year ended 31 March 2024_
## **Fund accounting policy**
Restricted funds are to be used for specified purposes as laid down by the donor. Expenditure, which meets these criteria, is identified to the fund, together with a fair allocation of overheads and support costs.
Unrestricted funds are donations and other incoming resources receivable or generated for the general work of the Charity.
Designated funds are unrestricted funds earmarked by the trustees for particular purposes.
## **Investment policy and objectives**
In view of the limited financial reserves available to finance the operations of the charity, the Trustees have decided that it would not be appropriate to invest surplus funds long term. Instead the funds are invested in a COIF Charities Deposit Fund in order to be readily available to meet any short-term cash requirements.
## **Reference and administrative details**
Registered name Age Concern in Cornwall and the Isles of Scilly Operating name Age UK Cornwall & the Isles of Scilly Company registration number 02452302 Charity registration number 900542
## **Trustees**
The following trustees constitute directors of the company for the purpose of the Companies Act 2006.
Mrs K Gannon * (Treasurer) Mrs MM Ford * (Chair – resigned 19 December 2024) Mr C Garrick (Vice Chair – resigned 19 December 2024) Mrs S Hancock (Resigned 19 December 2024) Mrs AA Burley * Mr PM Jefferson Mrs P Dewhurst Mrs K Carey (Chair from 19 December 2024) Mrs H Cridland (Appointed 19 December 2024) Mrs CA Gilmore (Appointed 19 December 2024)
No trustees have any beneficial interest in the charitable company. All trustees are members of the charitable company and guarantee to contribute £1 in the event of a winding up. Trustees are elected by the members.
All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 11 to the financial statements.
- Member of the finance subcommittee.
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Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
## Trustees’ annual report
_For the year ended 31 March 2024_
## **Key Management Personnel**
|Chief Executive|Mrs T Roose|
|---|---|
|Director of Finance|Mr S Perry|
|Director of Transport|Miss A Lewis|
|Director of Transformation|Mr K Yates|
|Principal address of the charity|Boscawen House|
||Chapel Hill|
||TRURO|
||Cornwall|
||TR1 3BN|
||www.ageukcornwall.org.uk|
|Registered office|Peat House|
||Newham Road|
||TRURO|
||Cornwall|
||TR1 2DP|
|Bankers|Lloyds Bank Plc|
||7 Boscawen Street|
||TRURO|
||Cornwall|
||TR1 2QT|
|Solicitors (general matters)|Coodes|
||Elizabeth House|
||Castle Street|
||TRURO|
||Cornwall|
||TR1 3AP|
|Solicitors (employment)|Nash & Co|
||Beaumont House|
||Beaumont Park|
||PLYMOUTH|
||Devon|
||PL4 9BD|
|Auditors|RRL LLP|
||Peat House|
||Newham Road|
||TRURO|
||Cornwall|
||TR1 2DP|
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Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
## Trustees’ annual report
_For the year ended 31 March 2024_
## **Structure, governance and management**
## **Governing document**
Age Concern in Cornwall and the Isles of Scilly is a charity established as a company limited by guarantee and was set up in 1989. It is governed by the Memorandum and Articles of Association dated 13 December 1989 as amended on 19 August 1998, 10 September 2003 and 9 December 2012. It is registered as a charity with the Charity Commission. In the event of winding up the members agree to contribute an amount not exceeding £1 to the assets of the charity.
## **Recruitment and induction of trustees**
A panel comprising of existing trustees selects members of the Trustees Board. Applications for Trusteeship are sought by contacting local Age Concern groups and member organisations in Cornwall and requesting nominations for vacancies. Trustees serve for a three-year period and at the end of that period they may be re-elected for a further three year period. New trustees are inducted into the workings of the charity.
## **Organisation**
Age Concern in Cornwall and the Isles of Scilly is an independent charity although it is in contact with other similar charities and in particular shares information with the network of charities under the Age UK umbrella.
The trustees are responsible for the overall management and conduct of the charity and meet regularly throughout the year. They receive reports from a sub-committee on specific matters.
The day to day management of Age Concern in Cornwall and the Isles of Scilly is delegated to the Chief Executive. Each of the activities undertaken is controlled by a manager who reports to the Chief Executive.
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Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
## Trustees’ annual report
_For the year ended 31 March 2024_
## **Risk management strategy**
Unanticipated risks and unintended events can present risks to the charity and others. Age Concern in Cornwall and the Isles of Scilly has a better chance of averting the risks if everyone concerned makes informed choices and decisions based on the best possible information and an analysis of the options available. We cannot avert all risks, but we can take precautions to lessen the impact with good planning and well considered and timely responses.
The process for developing a risk management strategy involves people at all levels of the organisation and includes:
- The risk assessment phase including gathering information, reviewing potential risks and an analysis of our organisational strengths and weaknesses.
- The risk analysis stage focusing on categorising and prioritising the risks identified.
- The risk management phase including the development of a plan to deal with risks, agreeing and communicating the plan and reviewing the organisational policies and practices.
The trustees have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing its aims and objectives and in planning future activities. In particular the trustees consider how planned activities will contribute to the aims and objectives set.
## **Related parties**
The charity has two wholly owned subsidiaries as follows:
- Transport Access People Limited – operates a transport service
- Age Concern Cornwall Trading Limited – dormant
The performance of these subsidiaries is disclosed in note 13 of the financial statements.
## **Pay policy for senior staff**
The directors consider the board of directors, who are the charity’s trustees, and the senior management team comprise the key management personnel of the charity to be in charge of directing and controlling, running and operating the charity on a day-to-day basis. All directors give of their time freely and no director received any remuneration in the year. Details of directors’ expenses and related party transactions are disclosed in note 11 to the financial statements.
The pay of the senior staff is reviewed annually and normally increased in accordance with average earnings. In view of the nature of the charity, the directors benchmark against pay levels in other similar organisations.
## **Auditors**
A resolution proposing RRL LLP be reappointed as auditors of the group and the company will be put to the Annual General Meeting.
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Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
## Trustees’ annual report
_For the year ended 31 March 2024_
## **Statement of trustees’ responsibilities**
The trustees (who are also directors of Age Concern in Cornwall and the Isles of Scilly, for the purposes of company law) are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees 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 group and charitable company and of the incoming resources and application of resources, including income and expenditure of the group and charitable company for that period. In preparing those financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently.
- observe the methods and principles of the Charities SORP 2019 (FRS 102);
- make judgements and estimates that are reasonable and prudent.
- state whether applicable UK Accounting Standards has been followed; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and charitable company will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **Statement of disclosure to auditor**
In so far as the trustees are aware, there is no relevant audit information of which the group and charitable company’s auditors are unaware. Additionally, the trustees have taken all the steps that they ought to have taken as trustees in order to make themselves aware of any relevant audit information and to establish that the group and charitable company’s auditors are aware of that information.
This report has been prepared in accordance with the special provision of Part 15 of the Companies Act 2006 relating to small companies.
In approving the Trustees’ Annual Report, we also approve the Strategic report included therein, in our capacity as company directors.
By order of the trustees Peat House Newham Road TRURO Cornwall TR1 2DP **K Carey** _Trustee_ 16 January 2025
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Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
## Independent auditors’ report to the members of Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee)
We have audited the financial statements of Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) (the ‘parent charitable company’) and its subsidiaries (the ‘group’) for the year ended 31 March 2024 which comprise of the income and expenditure account, group statement of financial activities, group and company balance sheet, group statement of cash flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice).
## **Opinion**
In our opinion the financial statements:
- give a true and fair view of the state of the group’s and parent charitable company’s affairs as at 31 March 2024, and of the group’s incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities Act 2011.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
- the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
- the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the group’s or parent charitable company’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
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Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
Independent auditors’ report to the members of Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee)
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the trustees’ report incorporating the directors’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the directors’ report has been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of our knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 and the Charities Act 2011 requires us to report to you if, in our opinion:
- adequate and sufficient accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent charitable company’s financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors’ remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime take advantage of the small companies’ exemption in preparing the directors’ report and from the requirement to prepare a strategic report.
16
Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
Independent auditors’ report to the members of Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee)
## **Responsibilities of trustees**
As explained more fully in the trustees’ responsibilities statement set out on page 14, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the group’s and parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.
## **Auditor’s responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
- Obtain an understanding of the legal and regulatory frameworks applicable to the charity and the sector in which they operate. We determined that the following laws and regulations were most significant: the Charities Act 2011 and the Companies Act 2006;
- Review of the disclosures in the financial statements and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
- Enquiries of management concerning actual and potential litigation and claims;
- Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
- Reviewing minutes of meetings and correspondence with regulators;
- Performing audit work in connection with the risk of management override of controls, including testing journal entries for reasonableness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for potential bias.
We also communicate relevant identified laws and regulations and potential fraud risk to all engagement team members and remain alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
Our audit approach also considered the opportunities and incentives that may exist within the company for fraud and identified the greatest potential for fraud being in respect of cut off and completion risk around revenue recognition. Under ISA (UK) we are also required to undertake procedures to respond to the risk of management override of controls. Our procedures included the following:
17
Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
## Independent auditors’ report to the members of Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee)
· Undertaking transactional testing on revenue
· Performing cut off testing on income
· Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale for significant transactions outside the normal course of business
· Reviewing estimates and judgements made in the accounts for any indication of bias and challenged assumptions used by management in making estimates.
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 or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
## **Use of our report**
This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and to the charitable company’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s members and its trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
**Josh Stevens ACA (Senior Statutory Auditor)** For and on behalf of RRL LLP _Chartered Accountants Statutory Auditors_
Peat House Newham Road TRURO TR1 2DP
30 January 2025
18
## Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
## Consolidated statement of financial activities (incorporating income and expenditure account)
_For the year ended 31 March 2024_
||||||**2024**|2023|
|---|---|---|---|---|---|---|
|||Restricted|Endowment|Unrestricted|**Total**|Total|
||_Notes_|funds|funds|funds|**funds**|funds|
|||£|£|£|**£**|£|
|**Income from:**|||||||
|Donations and legacies|_3_|1,609|-|124,383|**125,992**|352,853|
|Charitable activities|_4_|1,815,797|-|2,715,136|**4,530,933**|3,406,028|
|Investment income|_5_|-|-|71,726|**71,726**|26,078|
|||________|________|________|**________**|________|
|**Total income**||1,817,406|-|2,911,245|**4,728,651**|3,784,959|
|||________|________|________|**________**|________|
|**Expenditure on:**|||||||
|Charitable activities|_7_|1,709,050|-|3,238,434|**4,947,484**|3,695,677|
|||________|________|________|**________**|________|
|**Total expenditure**|_8_|1,709,050|-|3,238,434|**4,947,484**|3,695,677|
|||________|________|________|**________**|________|
|Net gains/(losses) on investments||-|-|3,507|**3,507**|**(4,724)**|
|||________|________|________|**________**|________|
|**Net (expenditure)/**|||||||
|**income for year**|_9_|108,356|-|(323,682)|**(215,326)**|84,558|
|Transfers||159,592|-|(159,592)|**-**|-|
|||________|________|________|**________**|________|
|**Net movement in funds**||267,948|-|(483,274)|**(215,326)**|84,558|
|Total funds brought forward||224,722|324,602|2,565,943|**3,115,267**|3,030,709|
|||________|________|________|**________**|________|
|**Total funds carried forward**||492,670|324,602|2,082,669|**2,899,941**|3,115,267|
All income and expenditure are derived from continuing activities.
19
## Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
## Company statement of financial activities (incorporating income and expenditure account)
_For the year ended 31 March 2024_
||||||**2024**|2023|
|---|---|---|---|---|---|---|
|||Restricted|Endowment|Unrestricted|**Total**|Total|
||_Notes_|funds|funds|funds|**funds**|funds|
|||£|£|£|**£**|£|
|**Income from:**|||||||
|Donations and legacies|_3_|1,609|-|124,383|**125,992**|352,853|
|Charitable activities|_4_|1,815,797|-|1,799,713|**3,615,510**|2,448,414|
|Investment income|_5_|-|-|75,425|**75,425**|26,078|
|||________|________|________|**________**|________|
|**Total income**||1,817,406|-|1,999,521|**3,816,927**|2,827,345|
|||________|________|________|**________**|________|
|**Expenditure on:**|||||||
|Charitable activities|_7_|1,709,050|-|2,332,536|**4,041,586**|2,734,301|
|||________|________|________|**________**|________|
|**Total expenditure**|_8_|1,709,050|-|2,332,536|**4,041,586**|2,734,301|
|||________|________|________|**________**|________|
|Net gains/(losses) on investments||-|-|3,507|**3,507**|(4,724)|
|||________|________|________|**________**|________|
|**Net (expenditure)/**|||||||
|**income for year**|_9_|108,356|-|(329,508)|**(221,152)**|88,320|
|Transfers||159,592|-|(159,592)|**-**|-|
|||________|________|________|**________**|________|
|**Net movement in funds**||267,948|-|(489,100)|**(221,152)**|88,320|
|Total funds brought forward||224,722|324,602|2,562,598|**3,111,922**|3,023,602|
|||________|________|________|**________**|________|
|**Total funds carried forward**||492,670|324,602|2,073,498|**2,890,770**|3,111,922|
20
## Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
## Consolidated and company balance sheets _As at 31 March 2024_
|||**Group**|Group|**Company**|Company|
|---|---|---|---|---|---|
|||**2024**|2023|**2024**|2023|
||_Notes_|**£**|£|**£**|£|
|**Fixed assets**||||||
|Tangible assets|_12_|**230,447**|245,260|**228,949**|245,260|
|Investments|_13_|**-**|-|**9**|9|
|||**________**|________|**________**|________|
|**Total fixed assets**||**230,447**|245,260|**228,958**|245,269|
|||**________**|________|**________**|________|
|**Current assets**||||||
|Stock|_14_|**2,777**|2,227|**2,777**|2,227|
|Debtors|_15_|**600,131**|434,708|**527,115**|382,319|
|Investments|_16_|**77,141**|73,634|**77,141**|73,634|
|Cash at bank and in hand|_17_|**2,279,906**|4,344,470|**2,249,634**|4,249,810|
|||**________**|________|**________**|________|
|**Total current assets**||**2,959,955**|4,855,039|**2,856,667**|4,707,990|
|**Creditors: amounts falling due**||||||
|**within one year**|_18_|**(290,461)**|(1,985,032)|**(194,855)**|(1,841,337)|
|||**________**|________|**________**|________|
|**Net current assets**||**2,669,494**|2,870,007|**2,661,812**|2,866,653|
|||**________**|________|**________**|________|
|**Net assets**|_20_|**2,889,941**|3,115,267|**2,890,770**|3,111,922|
|**Funds of the charity**||||||
|Restricted funds|_21_|**492,670**|224,722|**492,670**|224,722|
|Endowment funds|_22_|**324,602**|324,602|**324,602**|324,602|
|||**________**|________|**________**|________|
|||**817,272**|549,324|**817,272**|549,324|
|||**________**|________|**________**|________|
|_Unrestricted funds_||||||
|Designated funds|_23_|**978,683**|1,358,017|**978,683**|1,358,017|
|Revaluation reserve|_23_|**-**|-|**-**|-|
|General fund|_24_|**1,103,986**|1,207,926|**1,094,815**|1,204,581|
|||**________**|________|**________**|________|
|||**2,082,669**|2,565,943|**2,073,498**|2,562,598|
|||**________**|________|**________**|________|
|**Total charity funds**||**2,899,941**|3,115,267|**2,890,770**|3,111,922|
The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and constitute the financial statements required by the Companies Act 2006 and are for circulation to members of the company.
Signed on behalf of the trustees by:
## **K Carey** _Trustee_
Approved and authorised for issue by the trustees on: 16 January 2025
Company Registration No. 02452302
21
Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
|Group statement of cash flows||||||
|---|---|---|---|---|---|
|_For the year ended 31 March 2024_||||||
||||**2024**||2023|
||_Notes_|**£**|**£**|£|£|
|**Cash flows from operating activities:**||||||
|Net cash generated in operating activities|_1_||**(2,076,987)**||1,897,853|
|**Cash flows from investing activities:**||||||
|Investment income received||**71,726**||26,078||
|Proceeds from disposal of fixed assets||**-**||4,700||
|Fixed asset additions||**(59,303)**||(20,624)||
|||**________**||________||
|Net cash generated by/(used in) investing||||||
|activities|||**12,423**||10,154|
|**Change in cash and cash equivalents**||||||
|**in the reporting period**|||**(2,064,564)**||1,908,007|
|Cash and cash equivalents at the||||||
|beginning of the reporting period|||**4,344,470**||2,436,463|
|**Cash and cash equivalents at the end**||||||
|**of the reporting period**|_2_||**2,279,906**||4,344,470|
22
Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
## Notes to the group statement of cash flows
_For the year ended 31 March 2024_
## **1 Reconciliation of net income/(expenditure) to net cash inflow from operating activities**
|||**2024**|2023|
|---|---|---|---|
|||**£**|£|
||Net (expenditure)/income for the reporting period (as per the|||
||statement of financial activities)|**(215,326)**|84,558|
||_Adjusted for:_|||
||Depreciation|**74,116**|67,630|
||Investment income|**(71,726)**|(26,078)|
||(Profit)/loss on disposal of fixed assets|**-**|(4,700)|
||(Gains)/losses on investments|**(3,507)**|4,724|
||(Increase)/decrease in stock|**(550)**|(907)|
||Decrease/(increase) in debtors|**(165,423)**|8,875|
||Increase/(decrease) in creditors within one year|**(1,694,571)**|1,763,751|
|||**________**|________|
||**Net cash inflow from operating activities**|**(2,076,987)**|1,897,853|
|**2**|**Analysis of cash and cash equivalents**|||
|||**2024**|2023|
|||**£**|£|
||Cash in hand|**3,818**|1,937|
||PLEO Prepaid Cards|**8,265**|-|
||Cash in bank – current accounts|**759,673**|2,905,979|
||Cash in bank – deposit accounts|**1,508,150**|1,436,554|
|||**________**|________|
||**Total cash and cash equivalents**|**2,279,906**|4,344,470|
23
Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
## Notes
_(forming part of the financial statements)_
## 1 **Constitution**
The company is limited by guarantee incorporated in England and does not have a share capital. In the event of the company being wound up each member is liable to contribute a sum not exceeding £1. There were 8 members at 31 March 2024 (2023: 8).
## 2 **Accounting policies**
The following accounting policies have been adopted in dealing with items which are considered material in relation to the preparation of the company’s financial statements.
## 2.1
## _**Basis of preparation**_
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic (FRS 102) and the Companies Act 2006.
Age Concern in Cornwall and the Isles of Scilly 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 note.
These financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts are rounded to the nearest £.
The consolidated financial statements have been prepared in respect of Age Concern in Cornwall and the Isles of Scilly, Transport Access People Limited and Age Concern Cornwall Trading Limited. The results of Transport Access People Limited and Age Concern Cornwall Trading Limited have been incorporated into the consolidated statement of financial activities and the consolidated balance sheet on a line by line basis.
## 2.2 _**Income**_
Voluntary income is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Such income is only deferred when:
- The donor specifies that the grant or donation must only be used in future accounting periods; or
- The donor has imposed conditions which must be met before the charity has unconditional entitlement.
Intangible income is not included unless it represents goods or services which would otherwise be purchased.
Legacies are recognised in the financial statements in the period to which the charity becomes entitled to the income, unless it is incapable of financial measurement.
Income from trading activities is recognised as earned (as the related goods and services are provided).
Investment income is recognised on a receivable basis.
Income from charitable activities includes income received under contract or where entitlement to grant funding is subject to specific performance conditions it is recognised as earned (as the related goods or services are provided). Grant income included in this category provides funding to support performance activities and is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Income is deferred when performance related grants are received in advance of the activity to which they relate.
## 2.3
## _**Expenditure**_
Expenditure is included on an accruals basis. The irrecoverable element of VAT is included with the expense to which it relates. Expenditure is recognised when a liability is incurred.
Governance costs represent the cost of relevant staff and office costs, board expenses, audit and accountancy fees.
24
Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
## Notes
_(forming part of the financial statements)_
## 2 **Accounting policies (continued)**
## 2.3 _**Expenditure (continued)**_
The majority of costs are directly attributable to specific activities. Certain shared costs are apportioned to activities in furtherance of the objects of the charity. Shared staff costs and office costs are apportioned on the basis of the estimated usage by each cost centre of services provided.
## 2.4 _**Funds**_
Restricted funds are to be used for specified purposes as laid down by the donor. Expenditure which meets the criteria is identified to the fund, together with a fair allocation of overheads and support costs.
Unrestricted funds are donations and other incoming resources received or generated for any of the charity’s objectives.
Designated funds are unrestricted funds earmarked by the trustees for particular purposes.
Endowment funds capital is required to be retained in perpetuity.
## 2.5 _**Pension costs**_
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The amount charged to the Statement of Financial Activities represents the contributions payable to the scheme in respect of the accounting period.
## 2.6 _**Operating leases**_
Rental charges are charged in the statement of financial activities on a straight line basis over the life of the lease.
## 2.7 _**Tangible fixed assets and depreciation**_
Tangible fixed assets over £1,000 are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is provided on tangible fixed assets to write off the cost less the estimated residual value of tangible fixed assets by equal instalments over their estimated useful lives as follows:
|Fixtures and fittings:||
|---|---|
|- Furniture|10 years|
|- Telephone system|5 years|
|- Electrical equipment|1 – 3 years|
|Motor vehicles|5 - 10 years|
|Electric Vehicles & Chargepoints|7 years|
## 2.8 _**Investments**_
Fixed asset investments are stated in the financial statements at cost. Current asset investments are stated at valuation. The aggregate surplus or deficit on annual revaluation is transferred to a revaluation reserve.
## 2.9 _**Stocks**_
Stocks are valued at the lower of cost and net realisable value. Donated goods are not valued when held as stock.
25
## Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
## Notes
_(forming part of the financial statements)_
- 2 **Accounting policies (continued)**
## 2.10 _**Debtors and creditors**_
Debtors receivable and creditors payable within one year are recorded at transaction value.
## 2.11 _**Taxation**_
The company is an exempt charity within the meaning of Schedule 3 of the Charities Act 2011 and is considered to pass the test set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
26
## Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
## Notes
_(forming part of the financial statements)_
- 3 **Donations and legacies (Group and Company)**
|||||**2024**|2023|
|---|---|---|---|---|---|
|||Restricted|Unrestricted|**Total**|Unrestricted|
|||funds|funds|**funds**|funds|
|||£|£|**£**|£|
||Individuals|1,609|52,819|**54,428**|45,309|
||Legacies|-|71,564|**71,564**|307,544|
|||________|________|**________**|________|
|||1,609|124,383|**125,992**|352,853|
|4|**Income from charitable activities (Group and Company)**|||||
|||||**2024**|2023|
|||Restricted|Unrestricted|**Total**|Total|
|||funds|funds|**funds**|funds|
|||£|£|**£**|£|
||Active Living Services|-|871,570|**871,570**|658,955|
||COMF funding|-|-|**-**|(10,000)|
||Cost of Living Fund|19,125|-|**19,125**|-|
||Gateway Support Programme|754,070|-|**754,070**|330,000|
||Home and Hospital|780,000|-|**780,000**|414,000|
||Home Support Grant|204,500|-|**204,500**|45,000|
||Inclusion Matters|-|178,308|**178,308**|180,309|
||Informal Carers Service|-|88,138|**88,138**|87,860|
||LINCos|-|-|**-**|28,779|
||Macmillan Link Navigation|37,740|-|**37,740**|29,097|
||Older Peoples Project|-|20,328|**20,328**|-|
||Peer Support Worker|-|-|**-**|16,940|
||Penzance Youth Team|588|-|**588**|16,892|
||People In Mind|-|100,324|**100,324**|-|
||Personal Health Budget|-|24,546|**24,546**|-|
||Rejuvenate Too|-|-|**-**|10,000|
||Respiratory Care Post|-|-|**-**|29,500|
||Social Prescribing (Cornwall)|-|435,847|**435,847**|367,878|
||Social Prescribing Development|-|2,058|**2,058**|71,134|
||Transport|-|24,064|**24,064**|71,830|
||Veterans Should Not Be Forgotten|-|-|**-**|14,433|
||Other projects|19,774|54,530|**74,304**|85,807|
|||**________**|________|**________**|________|
||**Total income – Company**|1,815,797|1,799,713|**3,615,510**|**2,448,414**|
||Transport Access People Limited|-|929,421|**929,421**|1,004,521|
||Elimination of intercompany|||||
||transactions on consolidation|-|(13,998)|**(13,998)**|(46,907)|
|||**________**|________|**________**|**________**|
||**Total income – Group**|1,815,797|2,715,136|**4,530,933**|3,406,028|
Government funding included above totalled £268,551 (2023: £122,131) which consisted of £222,951 from Cornwall Council to support home support, older people, transport projects and £45,600 from the Council for the Isles of Scilly for the Isles of Scilly minibus.
27
## Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
## Notes
_(forming part of the financial statements)_
|5|**Investment income**|||||
|---|---|---|---|---|---|
|||**Group**|Group|**Company**|Company|
|||**2024**|2023|**2024**|2023|
|||**£**|£|**£**|£|
||Gift Aid from subsidiary undertaking|**-**|-|**3,699**|-|
||Bank interest receivable|**71,726**|26,078|**71,726**|26,078|
|||**________**|________|**________**|________|
|||**71,726**|26,078|**75,425**|26,078|
The donation received under gift aid from the subsidiary companies reflects the amount expected to be received in respect of the results for the year ended 31 March 2024. As disclosed in those financial statements the gift aid donation is no longer accrued at year end, however the Trustees of the charity have accrued for this income in the Charity’s financial statements as notification of entitlement to this income had been received at the year end.
## 6 **Taxation**
As the company is a registered charity it is exempt from corporation tax.
28
## Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
## Notes
_(forming part of the financial statements)_
## 7 **Expenditure on charitable activities – Group and Company**
||Restricted|Unrestricted|**2024**|2023|
|---|---|---|---|---|
||funds|funds|**Total**|Total|
||||**Funds**|funds|
||£|£|**£**|£|
|Active Living|-|863,537|**863,537**|610,767|
|Building on Steps into Wellness|-|-|**-**|39,139|
|Capital Assets Fund|-|73,616|**73,616**|67,630|
|COMF Funding|-|42,702|**42,702**|47,416|
|Community Hubs Programme|-|10,635|**10,635**|-|
|Cost of Living Response Fund|19,035|-|**19,035**|-|
|Covid 19 Response Fund|-|-|**-**|8,066|
|Daycentre Development Fund|-|19,545|**19,545**|20,882|
|Gateway Contingency Fund|46,688|-|**46,688**|-|
|Gateway Support Programme|632,785|-|**632,785**|227,158|
|Governance|-|33,347|**33,347**|26,749|
|Home and Hospital|764,456|-|**764,456**|344,675|
|Home Support Grant|204,500|-|**204,500**|45,000|
|Inclusion Matters|-|139,354|**139,354**|165,572|
|Informal Carers Services|-|71,308|**71,308**|48,211|
|Interreg (Age Independently)|-|-|**-**|1,481|
|LINCos|-|-|**-**|33,461|
|Macmillan Link Navigation|33,073|-|**33,073**|26,827|
|Older Peoples Project|-|27,825|**27,825**|-|
|Penzance Youth Project|4,146|-|**4,146**|13,334|
|People in Mind|-|90,991|**90,991**|-|
|Personal Health Budgets|-|24,546|**24,546**|-|
|Rejuvenate Too|-|59,015|**59,015**|97,652|
|Respiratory Care Post|-|-|**-**|30,994|
|Social Prescribing (Cornwall)|-|415,342|**415,342**|342,323|
|Social Prescribing Community Development|-|3,992|**3,992**|69,200|
|Step into Wellness|-|45,720|**45,720**|41,738|
|Transport|-|83,941|**83,941**|79,104|
|Veterans Should Not Be Forgotten|-|-|**-**|24,764|
|Other projects|4,367|327,120|**331,487**|322,158|
||**________**|________|**________**|________|
|**Total expenditure – Company**|1,709,050|2,332,536|**4,041,586**|2,734,301|
|Transport Access People Limited|-|919,898|**919,898**|1,008,284|
|Elimination of intercompany transactions on|||||
|consolidation|-|(14,000)|**(14,000)**|(46,908)|
||**________**|________|**________**|________|
|**Total expenditure – Group**|1,709,050|3,238,434|**4,947,484**|3,695,677|
29
## Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly Notes
_(forming part of the financial statements)_
## 8 **Total expenditure – Group and Company**
|_Expenditure represents the following_||Premises|Transport|Purchases,|General||||||
|---|---|---|---|---|---|---|---|---|---|---|
|_direct and apportioned costs_|Staff|and|and|provisions|office|Legal and|||**Group**|**Company**|
||costs|equipment|travel|and partner|expenses|professional|Depreciation|Other|**total**|**total**|
|||||payments|||||||
||£|£|£|£|£|£|£|£|**£**|**£**|
|Transport Access People Limited|80,915|9,630|800,255|-|12,084|-|500|466|**903,850**|**-**|
|Active Living|556,699|76,623|70,669|55,746|29,844|-|-|4,580|**794,161**|**808,161**|
|COMF Funding|38,592|720|-|-|390|-|-|-|**39,702**|**39,702**|
|Community Hubs Programme|-|10,635|-|-|-|-|-|-|**10,635**|**10,635**|
|Cost of Living Response Fund|7,305|1,530|-|-|2,700|-|-|-|**11,535**|**11,535**|
|Daycentre Development Fund|13,301|6,244|-|-|-|-|-|-|**19,545**|**19,545**|
|Gateway Contingency Fund|200|8,928|560|37,000|-|-|-|-|**46,688**|**46,688**|
|Gateway Support Programme|213,751|8,573|1,585|380,021|11,161|-|-|114|**615,205**|**615,205**|
|Go For Gold|-|-|3,669|1,374|-|4,904|-|19|**9,966**|**9,966**|
|Home & Hospital|375,493|10,137|27,690|309,028|37,570|4,538|-|-|**764,456**|**764,456**|
|Home Support Grant|-|-|-|184,870|-|-|-|-|**184,870**|**184,870**|
|Inclusion Matters|107,769|9,985|4,221|31|6,249|-|-|769|**129,024**|**129,024**|
|Informal Care Service|52,611|5,788|-|-|4,739|-|-|-|**63,138**|**63,138**|
|Macmillan Link Navigation|11,020|1,500|2,042|4|1,119|15,280|-|-|**30,965**|**30,965**|
|Older Peoples Project|16,761|-|454|8,640|370|-|-|-|**26,225**|**26,225**|
|People in Mind|68,395|4,737|3,552|-|3,772|-|-|38|**80,494**|**80,494**|
|Rejuvenate Too|49,292|2,049|606|-|2,064|-|-|-|**54,011**|**54,011**|
|Social Prescribing (Cornwall)|376,727|5,148|8,616|70|8,081|-|-|1,686|**400,328**|**400,328**|
|Social Prescribing Development|2,583|-|1,409|-|-|-|-|-|**3,992**|**3,992**|
|Staff Volunteer Training|5,426|187|1,808|408|17|4,671|-|1,043|**13,560**|**13,560**|
|Step into Wellness|33,699|1,370|5,122|59|2,376|-|-|94|**42,720**|**42,720**|
|Transport|38,798|3,754|31,411|-|2,568|-|-|554|**77,085**|**77,085**|
|Other Projects|222,895|63,571|24,962|8,964|(16,848)|4,703|73,616|5,660|**387,523**|**387,523**|
|Support costs|141,206|16,161|-|-|40,364|3,478|-|-|**201,209**|**190,211**|
|Governance costs|13,857|1,796|76|-|2,484|17,801|-|583|**36,597**|**31,547**|
||________|________|________|________|________|________|________|________|________|________|
|**2024 Total**|**2,427,295**|**249,066**|**988,707**|**986,215**|**151,104**|**55,375**|**74,116**|**15,606**|**4,947,484**|**4,041,586**|
||________|________|________|________|________|________|________|________|________|________|
|2023 Total|1,889,698|182,669|981,641|360,392|151,648|51,554|67,630|10,445|3,695,677|2,734,301|
30
## Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
## Notes
_(forming part of the financial statements)_
- 9 **Net income/(expenditure) for the year**
|9|**Net income/(expenditure) for the year**||||||
|---|---|---|---|---|---|---|
|||**Group**|Group|**Company**||Company|
|||**2024**|2023||**2024**|2023|
|||**£**|£||**£**|£|
||Net expenditure is stated after charging:||||||
||Operating leases|**32,000**|32,000||**32,000**|32,000|
||Depreciation|**74,116**|67,630||**73,616**|67,630|
||(Gain)/loss on disposal of fixed assets|**-**|(4,700)||**-**|(4,700)|
||Governance expenditure includes:||||||
||_Auditors remuneration:_||||||
||For audit services|**8,500**|6,650||**5,000**|4,400|
||For other services|**3,405**|2,800||**1,850**|1,800|
|||**________**|________|**________**||________|
|||**11,905**|9,450||**6,850**|6,200|
|10|**Payroll costs – Group**||||||
||||||**2024**|2023|
||||||**£**|£|
||Wages and salaries|||**2,240,280**||1,723,604|
||Social security costs||||**154,467**|119,155|
||Pension contributions||||**36,236**|26,188|
|||||**________**||________|
|||||**2,430,983**||1,868,947|
||The average number of full time equivalent persons employed during the year was as follows:||||||
||||||**2024**|2023|
||Charitable activities||||**73**|57|
||Management and administration of the charity||||**12**|11|
|||||**________**||________|
||||||**85**|68|
||Expressed as average head count of persons employed during the year||||**154**|119|
|The number of employees whose annual remuneration was £60,000 or more were:|The number of employees whose annual remuneration was £60,000 or more were:||||The number of employees whose annual remuneration was £60,000 or more were:||
||||||**2024**|2023|
||£60,000 – £70,000||||**-**|1|
The total remuneration and benefits of key management personnel for the year were £209,763 (2023: £206,469).
The group contributes to a defined contribution pension scheme. The pension cost charge for the period represents contributions payable by the group to the fund and amounted to £36,236 (2023: £26,188). There were outstanding contributions at the year end of £7,969 (2023: £5,814).
31
Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
## Notes
_(forming part of the financial statements)_
## 11 **Related party transactions**
The trustees of the charity are the directors under company law and received no remuneration (2023: £Nil). No expenses were claimed by trustees during the year or preceding year. There were no related party transactions during the year or the preceding year.
## 12 **Tangible fixed assets**
|**Tangible fixed assets**||||
|---|---|---|---|
|**Group**|**Motor**|**Fixtures**||
||**vehicles**|**and fittings**|**Total**|
||**£**|**£**|**£**|
|**_Cost_**||||
|At 1 April 2023|372,464|236,299|608,763|
|Additions|50,050|9,253|59,303|
|Disposals|-|-|-|
||________|________|________|
|At 31 March 2024|422,514|245,552|668,066|
||________|________|________|
|**_Depreciation_**||||
|At 1 April 2023|184,197|179,306|363,503|
|Charge for the year|54,114|20,002|74,116|
|On disposals|-|-|-|
||________|________|________|
|At 31 March 2024|238,311|199,308|437,619|
||________|________|________|
|**_Net book value_**||||
|**At 31 March 2024**|**184,203**|**46,244**|**230,447**|
|At 31 March 2023|188,267|56,993|245,260|
|**Tangible fixed assets**||||
|**Company**|**Motor**|**Fixtures**|**Total**|
||**vehicles**|**and fittings**||
||**£**|**£**|**£**|
|**_Cost_**||||
|At 1 April 2023|372,464|236,299|608,763|
|Additions|50,050|7,255|57,305|
|Disposals|-|-|-|
||________|________|________|
|At 31 March 2024|422,514|243,554|666,068|
||________|________|________|
|**_Depreciation_**||||
|At 1 April 2023|184,197|179,306|363,503|
|Charge for the year|54,114|19,502|73,616|
|On disposals|-|-|-|
||________|________|________|
|At 31 March 2024|238,311|198,808|437,119|
||________|________|________|
|**_Net book value_**||||
|**At 31 March 2024**|**184,203**|**44,746**|**228,949**|
|At 31 March 2023|188,267|56,993|245,260|
32
Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
## Notes
_(forming part of the financial statements)_
- 13 **Investments – Company**
**£**
_**Investment in subsidiaries at cost:**_ **At 31 March 2024 and 2023 9**
The company holds the whole of the issued share capital of Transport Access People Limited, a company registered in England and Wales number 04559010. The principal activity is the operation of a transport service.
|service.|||
|---|---|---|
||**2024**|2023|
||**£**|£|
|**Summary profit and loss account**|||
|Turnover|**929,421**|1,004,522|
|Administrative expenses|**(919,898)**|(1,008,284)|
||**________**|________|
|Net profit/(loss)|**9,523**|(3,762)|
|**The assets and liabilities of the subsidiary were:**|||
|Total assets|**243,812**|189,219|
|Creditors: amounts due within one year|**(230,943)**|(185,873)|
||**________**|________|
|Total net assets|**12,869**|3,346|
|Aggregate share capital and reserves|**12,869**|3,346|
The company holds the whole of the issued share capital of Age Concern Cornwall Trading Limited, a company registered in England and Wales number 02499635. The principal activity is insurance broking activity. This trade ceased on 31 March 2018.
||**2024**|**2023**|
|---|---|---|
||**£**|**£**|
|**Summary profit and loss account**|||
|Turnover|**-**|-|
|Administrative expenses|**-**|-|
||**________**|________|
|Net profit|**-**|-|
|**The assets and liabilities of the subsidiary were:**|||
|Total assets|**8**|8|
|Creditors: amounts due within one year|**-**|-|
||**________**|________|
|Total net assets|**8**|8|
|Aggregate share capital and reserves|**8**|8|
The above profits are passed to the charity by way of a gift aid donation each year. Subsequently no corporation tax liability arises in either trading subsidiary.
33
## Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
## Notes
_(forming part of the financial statements)_
## 14 **Stock – Group and Company**
|14|**Stock – Group and Company**|||||
|---|---|---|---|---|---|
|||||**2024**|2023|
|||||**£**|£|
||Consumables|||**2,777**|2,227|
|15|**Debtors**|||||
|||**Group**|Group|**Company**|Company|
|||**2024**|2023|**2024**|2023|
|||**£**|£|**£**|£|
||Trade debtors|**402,889**|387,897|**190,847**|245,634|
||Subsidiary undertakings|**-**|-|**135,327**|92,477|
||Other debtors|**179,999**|26,787|**183,698**|26,727|
||Prepayments and accrued income|**17,243**|20,024|**17,243**|17,481|
|||**________**|________|**________**|________|
|||**600,131**|434,708|**527,115**|382,319|
Other debtors includes donations from subsidiaries of £3,699 (2023: £Nil).
## 16 **Investments – Group and Company**
||**COIF Charities**|
|---|---|
||**Fixed Interest Shares**|
||**£**|
|**_Valuation_**||
|At 1 April 2023|73,634|
|Revaluation in year|3,507|
||________|
|**At 31 March 2024**|**77,141**|
The cost of the above investment at 31 March 2024 was £80,000 (2023: £80,000).
## 17 **Cash at bank and in hand**
|**Cash at bank and in hand**|||||
|---|---|---|---|---|
||**Group**|Group|**Company**|Company|
||**2024**|2023|**2024**|2023|
||**£**|£|**£**|£|
|Cash held on deposit|**1,508,150**|1,436,554|**1,508,150**|1,433,554|
|PLEO Prepaid Cards|**8,265**|-|**8,265**|-|
|Cash held on current account and cash in|||||
|hand|**763,491**|2,907,916|**733,219**|2,816,256|
||**________**|________|**________**|________|
||**2,279,906**|4,344,470|**2,249,634**|4,249,810|
34
## Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
## Notes
_(forming part of the financial statements)_
## 18 **Creditors: amounts falling due within one year**
||**Group**|Group|**Company**|Company|
|---|---|---|---|---|
||**2024**|2023|**2024**|2023|
||**£**|£|**£**|£|
|Bank overdraft|**-**|50,307|**-**|-|
|Trade creditors|**79,221**|81,929|**22,974**|26,334|
|Taxation and social security|**91,760**|81,670|**57,291**|46,869|
|Other creditors|**78,088**|14,553|**77,198**|14,561|
|Accruals|**41,392**|16,573|**37,392**|13,573|
|Deferred income (see note 19)|**-**|1,740,000|**-**|1,740,000|
||**________**|________|**________**|________|
||**290,461**|1,985,032|**194,855**|1,841,337|
Included within other creditors are funds held on behalf of others totalling £67,089 (2023: £nil), some of which the charity acts as an agent for. Total income received by the charity on their behalf was £457,884 (2023: £nil) and total expenditure paid by the charity on their behalf was £390,795 (2023: £nil).
## 19 **Deferred income**
||**Group**|Group|**Company**|Company|
|---|---|---|---|---|
||**2024**|2023|**2024**|2023|
||**£**|£|**£**|£|
|At 1 April 2023|**1,740,000**|-|**1,740,000**|-|
|Released to income in year|**(1,740,000)**|-|**(1,740,000)**|-|
|Deferred in year|**-**|1,740,000|**-**|1,740,000|
||**________**|________|**________**|________|
||**-**|1,740,000|**-**|1,740,000|
Deferred income in the prior year related to income received for activities due to take place in the 2023/24 year and therefore the income recognition criteria had not been met.
## 20 **Analysis of group net assets between funds – current year**
||**Restricted**|**Endowment**|**Unrestricted**|**Total**|
|---|---|---|---|---|
||**Funds**|**funds**|**Funds**|**funds**|
||**£**|**£**|**£**|**£**|
|Fund balances at 31 March 2024 as|||||
|represented by:|||||
|Tangible fixed assets|-|-|230,447|**230,447**|
|Current assets|498,959|324,602|2,136,394|**2,959,955**|
|Current liabilities|(6,289)|-|(284,172)|**(290,461)**|
||________|________|________|**________**|
|Total net assets|492,670|324,602|2,082,669|**2,899,941**|
35
## Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
## Notes
_(forming part of the financial statements)_
20 **Analysis of group net assets between funds – prior year (continued)**
||||**Restricted**|**Endowment**
**Unrestricted**|**Endowment**
**Unrestricted**|**Endowment**
**Unrestricted**|**Total**||
|---|---|---|---|---|---|---|---|---|
||||**funds**||**funds**|**Funds**|**funds**||
||||**£**||**£**|**£**|**£**||
|Fund balances at 31 March 2023 as|||||||||
|represented by:|||||||||
|Tangible fixed assets|||-||-
245,260||**245,260**||
|Current assets|||225,442||324,602
4,304,995||**4,855,039**||
|Current liabilities|||(720)|(720)|-
(1,984,312)||**(1,985,032)**||
||||________|________
________|||**________**||
|Total net assets|||224,722||324,602
2,565,943||**3,115,267**||
|**Restricted funds – Group and Company - current year**|||||||||
||||Brought|Income|Income
Expenditure|Transfers|**Carried**||
||||forward||||**forward**||
||||£|£|£
£|£|£|**£**|
|Legacy/gifts|||**1,904**|-|-
(922)|-|-
**982**||
|Gateway Support Programme|||**-**|754,070|754,070
(632,785)|(7,240)|**114,045**||
|Gateway Support Programme|||||||||
|Contingency|||**-**|-|-
(46,688)|97,507|97,507
**50,819**||
|Home and Hospital|||**-**|780,000|780,000
(764,456)|69,325|69,325
**84,869**||
|Perranarworthal Legacy|||**212,523**|-|-
-|-|**212,523**||
|Walking Group Newquay|||**1,113**|-|-
(1,113)|-|-|**-**|
|Cost of Living Fund|||**-**|19,125|19,125
(19,035)|-|-
**90**||
|Home Support Grant|||**-**|204,500|204,500
(204,500)|-|-|**-**|
|Macmillan Link Navigation|||**2,270**|38,803|(33,073)|-|**8,000**||
|Other|||**6,912**|20,908|20,908
(6,478)|-|-
**21,342**||
||||**________**
________||________
________|________|**________**||
||||**224,722**
1,817,406||1,817,406
(1,709,050)|159,592|**492,670**||
|_Purpose of funds:_|||||||||
|Legacy/gifts||-|Funds from various sources for specific use.|||Funds from various sources for specific use.|||
|Gateway Support Programme||-|Funding for a community based referral and telephone helpline|||Funding for a community based referral and telephone helpline|||
||||service.||||||
|Gateway
Support|Programme||||||||
|Contingency||-|To support the Gateway Support Programme||||||
|Home and Hospital||-|Funding to provide support for patients discharged from hospital.|||||Funding to provide support for patients discharged from hospital.|
|Perranarworthal Legacy||-|To provide Day Care Service in Perranarworthal.||To provide Day Care Service in Perranarworthal.||||
|Walking Group Newquay||-|Funding for walking group incorporating beach clean.||||||
|Cost of Living Fund||-|To provide a warm space and hot food.|To provide a warm space and hot food.||To provide a warm space and hot food.|||
|Home Support Grant||-|To support residents over 55 most in need and to help with the rising||||To support residents over 55 most in need and to help with the rising||
||||cost of living|cost of living|||||
|Macmillan Link Navigation||-|To provide online digital resources for people or families touched by|||||To provide online digital resources for people or families touched by|
||||cancer.||||||
|Other||-|Various small projects.||||||
## 21 **Restricted funds – Group and Company - current year**
To support residents over 55 most in need and to help with the rising cost of living
36
Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
## Notes
_(forming part of the financial statements)_
## 21 **Restricted funds – Group and Company – prior year (continued)**
|||Brought
Income|Expenditure|Transfers|Transfers|Transfers|**Carried**|
|---|---|---|---|---|---|---|---|
|||forward|||||**forward**|
|||£
£|£||£|£|**£**|
|Legacy/gifts||7,794
-|(5,890)|||-|**1,904**|
|Interreg (Age-in)||1,482
-|(1,482)|||-|**-**|
|LINCos||4,682
28,779|(33,461)|||-|**-**|
|Perranarworthal Legacy||215,403
-|(2,880)|||-|**212,523**|
|Walking Group Newquay||4,217
-|(3,104)|||-|**1,113**|
|Home Support Grant||-
45,000|(45,000)|||-|**-**|
|Macmillan Link Navigation||-
29,097|(26,827)|||-|**2,270**|
|Other||13,352
56,333|(52,777)||(9,996)||**6,912**|
|||________
________|________|________|||**________**|
|||246,930
159,209|(171,421)||(9,996)||**224,722**|
|_Purpose of funds:_||||||||
|Legacy/gifts|-|Funds from various sources for specific use.||Funds from various sources for specific use.||||
|Interreg (Age-in)|-|The impact on the welfare of individuals of planning, environment,|||||The impact on the welfare of individuals of planning, environment,|
|||transport, and other social factors.||||||
|LINCos|-|Promoting Research & Innovation.||||||
|Perranarworthal Legacy|-|To provide Day Care Service in Perranarworthal.||||||
|Walking Group Newquay|-|Funding for walking group incorporating beach clean||Funding for walking group incorporating beach clean||Funding for walking group incorporating beach clean||
|Home Support Grant|-|To support residents over 55 most in need and to help with rising cost||||||
|||of living.||||||
|Macmillan Link Navigation|-|To provide online digital resources for people or families touched by|||To provide online digital resources for people or families touched by|||
|||cancer.||||||
|Other|-|Various small projects.||||||
- Various small projects.
## 22 **Endowment funds – Group and Company – current year**
|||Brought|Income|Expenditure|Expenditure|Transfers|**Carried**|
|---|---|---|---|---|---|---|---|
|||forward|||||**forward**|
|||£|£||£|£|**£**|
|Perranarworthal Legacy||324,602|-||-|-|**324,602**|
|**Endowment funds – Group and Company – prior year**||||||||
|||Brought|Income|Expenditure||Transfers|**Carried**|
|||forward|||||**forward**|
|||£|£||£|£|**£**|
|Perranarworthal Legacy||324,602|-||-|-|**324,602**|
|_Purpose of funds:_||||||||
|Perranarworthal Legacy|-|To provide a Day Care centre in Perranarworthal.||To provide a Day Care centre in Perranarworthal.||||
37
Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
## Notes
_(forming part of the financial statements)_
- 23 **Unrestricted funds – current year**
|**Group and company**|Brought|Income and|Expenditure|Transfers|**Carried**|
|---|---|---|---|---|---|
||forward|gains|and losses||**forward**|
||£|£|£|£|**£**|
|_Designated funds:_||||||
|Benevolent fund|9,878|-|(1,048)|-|**8,830**|
|Capital Equipment Replacement||||||
|Fund|100,000|-|-|(50,000)|**50,000**|
|Capital fund|245,260|-|(73,616)|57,305|**228,949**|
|Clients Hardship Fund|19,500|-|(321)|-|**19,179**|
|Community Fund|216,890|-|-|110,361|**327,251**|
|Community Hubs Programme|200,000|-|(10,635)|(139,365)|**50,000**|
|Day Centre Development Fund|19,545|-|(19,545)|-|**-**|
|Gateway Contingency Fund|50,507|-|-|(50,507)|**-**|
|Go for Gold 50/20 Celebrations|8,881|-|(9,966)|1,085|**-**|
|Minibus replacement fund|23,038|-|-|-|**23,038**|
|Organisational and contingency||||||
|fund|150,000|-|-|(150,000)|**-**|
|Resilience and recovery fund|50,000|-|-|(50,000)|**-**|
|Service development fund|127,634|-|(29,522)|50,000|**148,112**|
|Sustainable (EV) transport||||||
|infrastructure capital fund|100,000|-|-|-|**100,000**|
|Volunteers training|36,884|-|(13,560)|-|**23,324**|
||________|________|________|________|**________**|
||1,358,017|-|(158,213)|(221,121)|**978,683**|
|Revaluation reserve|-|3,507|-|(3,507)|**-**|
## _Purpose of funds_
_(where not obvious from description above):_
- Benevolent fund - To provide help to older people in times of financial need. -
- Day Centre Development Fund Funds for the redevelopment of Daycentre services. -
- Volunteers training To fund training for staff and volunteer organisations. -
- Minibus replacement fund To purchase and maintain community minibuses. -
- Capital fund Fund representing net book value of fixed assets funded by unrestricted reserves.
38
Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
## Notes
_(forming part of the financial statements)_
|**Unrestricted funds – prior year**||||||
|---|---|---|---|---|---|
|**Group and company**|Brought|Income and|Expenditure|Transfers|**Carried**|
||Forward|gains|and losses||**forward**|
||£|£|£|£|**£**|
|_Designated funds:_||||||
|Benevolent fund|3,821|-|(450)|6,507|**9,878**|
|Day Centre Development Fund||||||
||-|-|-|100,000|**100,000**|
|Local group funds|292,266|-|(67,630)|20,624|**245,260**|
|Volunteers training|20,000|-|(500)|-|**19,500**|
|Minibus replacement fund|87,894|-|-|128,996|**216,890**|
|Capital fund|150,000|-|-|50,000|**200,000**|
|Organisational and contingency|50,000|-|-|(50,000)|**-**|
|fund||||||
|Covid PPE infection control fund|40,427|-|(20,882)|-|**19,545**|
|Resilience and recovery fund|-|-|(12,576)|63,083|**50,507**|
|Service development fund|8,041|10,000|(19,160)|10,000|**8,881**|
|Sustainable (EV) transport|6,507|-|-|(6,507)|**-**|
|infrastructure capital fund||||||
|Go for Gold 50/20 Celebrations|25,838|19,700|-|(22,500)|**23,038**|
|Clients Hardship Fund|||.|||
||150,000|-|-|-|**150,000**|
|Community Hubs Programme|50,000|-|-|-|**50,000**|
|Community Fund|50,000|-|(10,204)|87,838|**127,634**|
|Sustainable (EV) transport||||||
|infrastructure capital fund|50,000|-|-|50,000|**100,000**|
|Volunteers training|54,324|-|(17,440)|-|**36,884**|
||________|________|________|________|**________**|
||1,039,118|29,700|(148,842)|438,041|**1,358,017**|
|Revaluation reserve|-|-|(4,724)|4,724|**-**|
## _Purpose of funds:_
_(where not obvious from description above):_
- Benevolent fund - To provide help to older people in times of financial need. -
- Day Centre Development Fund Funds for the redevelopment of Daycentre services. -
- Local groups funds To provide funds specifically for local groups in Cornwall. -
- Volunteers training To fund training for staff and volunteer organisations. -
- Minibus replacement fund To purchase and maintain community minibuses. -
- Capital fund Fund representing net book value of fixed assets funded by unrestricted reserves.
39
Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
## Notes
_(forming part of the financial statements)_
## 24 **Unrestricted funds - current year**
|**Unrestricted funds - current year**|||||
|---|---|---|---|---|
||**Group**|Group|**Company**|Company|
||**2024**|2023|**2024**|2023|
||**£**|£|**£**|£|
|**_General fund_**|||||
|Brought forward|**1,207,926**|1,420,059|**1,204,581**|1,412,952|
|Income|**2,911,245**|3,596,050|**1,999,521**|2,638,436|
|Expenditure|**(3,080,221)**|(3,375,414)|**(2,174,323)**|(2,414,038)|
|Transfers between funds|**65,036**|(432,769)|**65,036**|(432,769)|
||**________**|________|**________**|________|
|**Carried forward**|**1,103,986**|1,207,926|**1,094,815**|1,204,581|
|**Unrestricted funds – prior year**|||||
||**Group**|Group|**Company**|Company|
||**2023**|2022|**2023**|2022|
||**£**|£|**£**|£|
|**_General fund_**|||||
|Brought forward|**1,420,059**|969,590|**1,412,952**|962,786|
|Income|**3,596,050**|3,201,519|**2,638,436**|2,227,534|
|Expenditure|**(3,375,414)**|(2,435,599)|**(2,414,038)**|(1,461,917)|
|Transfers between funds|**(432,769)**|(315,451)|**(432,769)**|(315,451)|
||**________**|________|**________**|________|
|**Carried forward**|**1,207,926**|1,420,059|**1,204,581**|1,412,952|
## 25 **Financial commitments**
At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable leases for land and buildings which fall due as follows:
||||**Group**|Group|**Company**|Company|
|---|---|---|---|---|---|---|
||||**2024**|2023|**2024**|2023|
||||**£**|£|**£**|£|
|Expiring within 1 year|Expiring within 1 year|Expiring within 1 year|**32,000**|32,000|**32,000**|32,000|
|Expiring within 2 – 5 years|Expiring within 2 – 5 years|Expiring within 2 – 5 years|**21,333**|53,333|**21,333**|53,333|
||||**________**|________|**________**|________|
||||**53,333**|85,333|**53,333**|85,333|
## 26 **Contingent asset – legacies**
At year end the charity had been notified of a significant legacy that has not been included in the Statement of Financial Activities because the conditions for recognition have not been met as at year end.
40
Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
## Notes
_(forming part of the financial statements)_
## 27 **Consolidated statement of financial activities – comparative period**
||||||**2023**|
|---|---|---|---|---|---|
|||Restricted|Endowment|Unrestricted|**Total**|
||_Notes_|funds|funds|funds|**funds**|
|||£|£|£|**£**|
|**Income from:**||||||
|Donations and legacies|_3_|-|-|352,853|**352,853**|
|Charitable activities|_4_|159,209|-|3,246,819|**3,406,028**|
|Investment income|_5_|-|-|26,078|**26,078**|
|||________|________|________|**________**|
|**Total income**||159,209|-|3,625,750|**3,784,959**|
|||________|________|________|**________**|
|**Expenditure on:**||||||
|Raising funds:||||||
|Charitable activities|_7_|171,421|-|3,524,256|**3,695,677**|
|||________|________|________|**________**|
|**Total expenditure**|_8_|171,421|-|3,524,256|**3,695,677**|
|||________|________|________|**________**|
|Net losses on investments||-|-|(4,724)|**(4,724)**|
|||________|________|________|**________**|
|**Net (expenditure)/ income for year**||||||
||_9_|(12,212)|-|96,770|**84,558**|
|Transfers||(9,996)|-|9,996|**-**|
|||________|________|________|**________**|
|**Net movement in funds**||(22,208)|-|106,766|**84,558**|
|Total funds brought forward||246,930|324,602|2,459,177|**3,030,709**|
|||________|________|________|**________**|
|**Total funds carried forward**||224,722|324,602|2,565,943|**3,115,267**|
41
Age Concern in Cornwall and the Isles of Scilly (Limited by Guarantee) Trading as Age UK Cornwall & the Isles of Scilly
## Notes
_(forming part of the financial statements)_
## 28 **Company statement of financial activities – prior year**
||||||**2023**|
|---|---|---|---|---|---|
|||Restricted|Endowment|Unrestricted|**Total**|
||Notes|funds|funds|funds|**funds**|
|||£|£|£|**£**|
|**Income from:**||||||
|Donations and legacies|3|-|-|352,853|**352,853**|
|Charitable activities|4|159,209|-|2,289,205|**2,448,414**|
|Investment income|5|-|-|26,078|**26,078**|
|||________|________|________|**________**|
|**Total income**||159,209|-|2,668,136|**2,827,345**|
|||________|________|________|**________**|
|**Expenditure on:**||||||
|Raising funds:||||||
|Charitable activities|7|171,421|-|2,562,880|**2,734,301**|
|||________|________|________|**________**|
|**Total expenditure**|8|171,421|-|2,562,880|**2,734,301**|
|||________|________|________|**________**|
|Net losses on investments||-|-|(4,724)|**(4,724)**|
|||________|________|________|**________**|
|**Net (expenditure)/ income for**||||||
|**year**|9|(12,212)|-|100,532|**88,320**|
|Transfers||(9,996)|-|9,996|**-**|
|||________|________|________|**________**|
|**Net movement in funds**||(22,208)|-|110,528|**88,320**|
|Total funds brought forward||246,930|324,602|2,452,070|**3,023,602**|
|||________|________|________|**________**|
|**Total funds carried forward**||224,722|324,602|2,562,598|**3,111,922**|
## 29 **Post Balance Sheet Event**
Following year end, due to the loss of a significant contract, the decision was made by the board of directors that Transport Access People Limited will cease to trade from 1 February 2024 and become essentially dormant.
## 30 **Auditor’s liability limitation agreement**
For the year ended 31 March 2024, the charity entered into a liability limitation agreement with its auditors, the principal terms of which limit the liability of the auditors to £5,000,000 in relation to their responsibilities as auditors of the charity. The date this was agreed by the charity was 19 December 2024.
42