AGE CONCERN WOLVERHAMPTON (A COMPANY LIMITED BY GUARANTEE) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2013

Transcription

1 0101 Annual Report and Accounts AGE CONCERN WOLVERHAMPTON (A COMPANY LIMITED BY GUARANTEE) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2013 Company Registration Number Charity Number JORDAN & COMPANY Chartered Accountants & Statutory Auditor Knighton House 62 Hagley Road Stourbridge West Midlands DY8 1QD

2 AGE CONCERN WOLVERHAMPTON Trading as AGE UK WOLVERHAMPTON Contents Page Chairman s message 1 Chief Executive s message 2 Trustees Report - Statement of Mission and Objectives 3 Trustees Report - Our achievements in Planning for the future 14 Financial Review Auditors Report 21 Financial Statements 23 Age UK Wolverhampton Trustees and Advisers 35

3 Chairman s message The past year has been another of constant change. The funding position remains difficult and in consequence a number of loyal members of staff who have served the organisation faithfully over many years have left either by taking redundancy or early retirement. In addition we lost for personal reasons the services of our very able Chief Executive Rosie Paskins to whom I would wish to pay tribute for the work that she did during the time of uncertainty. But we were extremely fortunate in being able to obtain the services of Susan Spencer with her experience both in general community work and in Age UK at a regional and national level. In consequence Susan was able to hit the ground running and to continue the work of putting Age UK Wolverhampton on to a sound long term financial footing. Alongside the change in the grants regime there has also been a significant change in funding culture, a move away from the giving of general grants to funding for specific projects with very specific outcomes and outputs. This represents a new way of working for the organisation but I am delighted with the way in which both the staff and volunteers have addressed the issues which this brings to the fore. One of the major casualties was of course the closure of the pop-in restaurant. This was authorised by the trustees with very great regret but unfortunately there was no other viable financial option. There are other people to whom I would wish to express my thanks. In particular, I thank our large army of volunteers. These giving their time freely make an enormous contribution both in terms of work done and also in terms of value for money. Without our trusty volunteers we would not be able to continue at any effective level. I would also like to express my thanks to fellow Trustees for the work that they do which once again is entirely voluntary and in the current climate in voluntary community work there have been major decisions that the Trustees have had to face and make. Finally I would wish to thank our supporters within the city of Wolverhampton and its environs. The support that we have been given during a difficult financial year has been tremendous and without this support life would have been even more difficult. So despite the current difficulties which all voluntary and community organisations face, we look forward to the future with hope and confidence. Rev A.G. Kinch Chairman Age UK Wolverhampton 1

4 Chief Executive s message I am pleased to have joined Age UK Wolverhampton and look forward to working with and for older people across the city in the coming years. The organisation has a track record to be proud of. Underpinning everything we have done in the past year has been the provision of information and advice to ensure that older people know their entitlements and are able to access quality services and support. The quality of the advice we provide is helped by our link to our national partner, Age UK and by our links across local communities. In the past year we have continued to bring together groups of older people for activities and social contact and to provide one to one support, recognising that loneliness and isolation have a direct impact on older people s health and sense of well-being. A year ago the Trustees identified some key priorities for 2012/13. Embedding the new structure was an early priority and this has been achieved. The Initial Contact Team at Hupton House represent the success of this, a valuable source of information about our own programmes and services and about services of partner organisations and other agencies across the city. We would like to see Age UK Wolverhampton as the first port of call for anyone seeking information or support for an older citizen of Wolverhampton - either themselves, a relative, a neighbour, or someone they are caring for. In the past year we have taken steps to raise awareness of the full range of the work we do, and we will continue to raise our profile. Responding to the changing funding environment, a year ago Trustees set in place a strategy to develop the organisation s financial sustainability. Already the benefits of this are showing our trading arm continues to invest in our charitable activities, we have opened a shop as a Joint Venture with Age UK and we are drawing in the valuable support of individuals and companies through our fundraising programmes. In the year we explored and planned for the launch of our Help at Home service, which makes a small charge to provide practical help that cannot be funded in other ways. We can only achieve our aims by working in partnership with other organisations and community groups across Wolverhampton. We will continue to build close links and to work with others to ensure the voices of older people are heard and that issues of concern to older people are raised and tackled. I would like to thank the Trustees and all the staff and volunteers for the welcome they have given me. I also wish to pay tribute to the work of my predecessor, Rosie Paskins, who did so much to move the organisation forward. I look forward to continuing to develop quality services for older people in Wolverhampton, to bring people together to tackle loneliness and isolation and to provide practical help to maintain independence. Susan Spencer Chief Executive 2

5 TRUSTEES REPORT The purpose of Age UK Wolverhampton is to promote the well-being of all older people and to help to make later life a fulfilling and enjoyable experience To achieve this aim, throughout all our activities we: Provide support to older people to reduce their risk of isolation and loneliness Enable older people to achieve and maintain their independence Enable older people to have a voice that is heard Enable older people to know and assert their rights and have access to quality services and products Reduce the negative impact of life-changing events on the lives of older people Our services are available to all older people in Wolverhampton. Across our programmes we take steps to reach individuals who are most at risk of losing their independence, aiming to reach people who: have a small social network survive on a low income recently suffered a fall have been in hospital have experienced crime suffered a bereavement have dementia or dementia like symptoms undertake unpaid caring responsibilities A total of 2,950 people accessed our services in the year from April 2012 to March This compares to 2,566 in

6 Our achievements in We have provided information and advice to ensure that older people know their entitlements and are able to access quality services and support Our Information and Advice service is trusted and well known to the older people of Wolverhampton, other advice agencies, Adults and Communities and other organisations. Age UK Wolverhampton is often the first port of call for people over 50 seeking advice and assistance. During 2012/13 our advisers provided specialist and in-depth advice to 969 individuals. Older people come to us for information and advice on a wide range of issues relating to health and wellbeing including Welfare Benefits, Housing, Residential and Non-Residential Care matters, Consumer problems, Money matters, Health. By far the biggest area of enquiry related to Welfare Benefits which accounted for 59% of enquiries in 2012/13. During the year our advisors helped local older people take-up 659,117 of benefits. Advice is provided face to face and via telephone, , and post. Our experience shows that older people have a strong preference for face to face advice. In the year we delivered Information and Advice at 3 GP Practices (East Park, Coalway Road, Penn and Bradley Medical Centre). We also ran outreach sessions to deliver energy saving advice, funded by Age UK and EON, at Fallings Park Fire Station; Hope Project at Heath Town Community Centre; New Seasons Community Centre and Tong Court. We were able to offer a small number of home visits for people who are housebound. Our staff and volunteers reflect the wide cultural demography of Wolverhampton. Our team is able to provide advice in a number of community languages including Hindi, Punjabi, Gujerati and Mandarin. In 2012/13 we invested in new facilities and equipment at our City Centre base in Darlington Street and have trained and developed our Initial Contact Team. The focus of the investment was to improve access to Information and Advice and to our Trading team. In 2012/13 our Initial Contact Team provided information on 7,096 matters; they signposted to external organisations on 810 issues and made 2,546 referrals to Age UK Wolverhampton s services. In an average month 87 older people access our one to one in depth advice service and our Initial Contact Team provide 600 pieces of information that enable older people and their carers to make informed choices. Our premises are centrally located, close to public transport, fully accessible for people with disabilities, provide a safe environment and are dementia friendly. Our reception area is open and welcoming, we have a designated area for drop-in advice and confidential interview rooms for advice appointments. 4

7 Our information and advice has benefited from the link to Age UK s specialist information and research Age UK Wolverhampton is an independent partner of the national charity Age UK. This has enabled us to draw on the expertise, knowledge, and resources of our national partner and to network with other local Age UKs around the country. Our partnership with Age UK provides access to 144 different Age UK publications written specifically on matters of concern for older people. This information is available in print and online via the website. We deliver impartial, relevant and reliable information and advice that ensures people over 50, their families and carers have the information they need when they need it. Older people come to us for information and advice on a wide range of issues relating to health and well-being including welfare benefits; housing; residential and non-residential care matters; consumer problems; money matters; health. Our partnership with Age UK ensures we deliver detailed, accurate information that is constantly updated. Via our website people can view and print off factsheets on topics including Finding a Care Home; What To Do When Someone Dies; how to look after yourself or someone you care for in extreme weather. We have extended the range of information we provide about services and support available to older people in Wolverhampton Through our Initial Contact Team and the Information and Advice service we have built a wealth of knowledge of the organisations and services which support older people, their families and carers across the City. It is a key part of our role to provide information about other services, activities and support available to older people through signposting and referral. In the year we have maintained strong links with external partners including Adults and Communities, Falls Prevention Service, Volunteer Bureau, One Voice, Community Safety Partnership, Over 50s Forum, Carer Support. We work closely with these organisations to ensure our advice and information service contributes to maintaining independent living for older people, their families and carers and enables them to make informed choices and remain independent. Where an individual s needs fall outside of our knowledge and expertise we are able to refer to our network of partner agencies to provide specialist assistance. We are members of WAAC (Wolverhampton Advice Agencies Consortium) and the Advice Services Transition Fund. 5

8 We have continued to provide one to one support to older people to reduce their risk of isolation and loneliness Many of our services are designed to provide support to older people who are lonely and at risk of becoming isolated from the community. Telephone Support Our volunteers provide a weekly telephone call to potentially vulnerable older people, offering information and the opportunity to have a friendly and informal chat. We make regular weekly contact with housebound individuals, and refer people to other services if appropriate. Over 7,000 calls were made during the year, and volunteers gave over 360 hours of their time to this service. The telephone support service, which is provided by volunteers, is very much appreciated and our service users tell us that as a result of this service they feel more valued as a member of the community and feel much better for having someone to talk to. They would certainly recommend us to other people in the same position. Visiting We offer weekly home visits to older people who have recently been discharged from hospital or who are considered vulnerable and at risk of isolation or loneliness. Over a few weeks these visits ensure regular contact, support and assistance in times of significant life changes. For those being discharged from hospital our visits provide a safety net to ensure progress is maintained. Our visitors are able to track the person s progress and provide accurate and timely signposting on to other services and support available within Age UK Wolverhampton and across the city. 79 people have been supported through a total of 647 visits in the year by our volunteers. Feedback from service users tells us that having someone visiting them regularly makes them feel less isolated, less lonely and more independent. We have continued to bring together groups of older people for activities and social contact, aiming to reduce loneliness and isolation Luncheon Clubs Our Luncheon Clubs are situated around the City and are available to older people from all sections of society. Activities are available at most of the venues, such as gentle exercise, quizzes and reminiscence sessions. During 2012/13, we continued to run 6 luncheon clubs, which provided important social opportunities and activities for over 52 people per week, and served over 2,000 lunches. 6

9 Friendship Club Our Friendship Club caters for those who are alone or lonely and would like to talk to like-minded people and socialise. The Friendship Club used to meet in our restaurant. Since that closed they have continued to meet regularly and have increased their numbers. The Club now meets every Thursday morning at a local café and has 20 regular members who get together for conversation and social contact. Accompanied holidays Our accompanied holidays are support for individuals who are active but lack the confidence to go away on holiday, aimed particularly at those who have been ill or had a fall or have lost someone close to them and are struggling to adjust to life without them. Our volunteers travel and stay at the hotel with the group to provide reassurance and support. In the year 5 volunteers have supported 17 people on holidays, to Morecambe and to Torquay. We have run exercise groups to promote health and well-being Young at Heart Staying active in later life helps people remain physically independent. Activities are organised in response to what older people tell us they would like. In 2012/13 we have delivered sessions including Yoga, Line Dancing, and seated exercise to music. These sessions provide physical and mental stimulation for older people, enabling them to live a more active later life with fewer falls and accidents. Keep Active We received one year funding from the Primary Care Trust to deliver city-wide exercise sessions to encourage older people to stay active. 13 Keep Active groups were established with a total of 240 participants. These took place at 10 venues located in areas of multiple deprivation including East Park, St Peters, Bushbury South and Low Hill. Over 50% of the Keep Active participants were aged 76 years or over. 58% of participants were from black, asian and minority ethnic communities. We have provided individual support for people in later life to reduce the negative impact of life-changing events on their lives We have a proven track record of reaching those most at risk, who may be on a low income, socially isolated, people who have suffered a bereavement, people suffering from dementia and people living in areas of multiple deprivation. 7

10 Full of Life We provide short term one to one support to help people through challenging times. In 2012/13 we supported 121 individuals with a variety of practical help and support. The support has ranged from helping people to do or carry their shopping after an illness or hospital stay, to helping turn a mattress, and to accompanying people to hospital appointments. Supportive Hospital Discharge We offer a take you home service from New Cross Hospital for older people who are assessed as low-risk. We settle them safely in their home and follow up by home visit or telephone call to ensure that all is well. In 2012/13 the service was offered to 990 patients with over 97% (967) accepting the support and being taken home. The feedback from service users in the year was overwhelmingly positive, with patients telling us that the service benefited them by making them feel safe and supported when coming home from hospital. The service also helped to reduce the risk of these people being re-admitted to hospital. We have delivered talks and information sessions in local communities In addition to our core Information and Advice service, we deliver specialist information to groups and organisations in communities across Wolverhampton. These sessions are planned around current and relevant topics. Our talks and information sessions Keeping Warm in Winter Safety and Security in your Home Falls Prevention Keeping Active and Improving Mobility Healthy Eating Volunteering opportunites In the year we delivered advice on welfare benefits through 15 outreach sessions in community locations. We also ran advice sessions with timed appointments to link older people to external specialists for advice on Will Writing or Tax Advice for Older People. Individuals and groups attending these sessions span all interest groups and cultures. Talks are delivered in a wide range of accessible venues, with minority language support from staff and volunteers. 8

11 We have provided support in the home to maintain independence Safety support We help people stay safe at home through the supply and fitting of safety and security items such as key safes, door chains, smoke alarms and window locks. We also give security advice and support, provide practical Falls Prevention facilities/advice and liaise with the Fire Service to provide fire prevention visits during our home visit. In 2012/13, 176 individuals used our safety support service, receiving over 300 different safety and security items. Word of Mouth Traders Directory In 2013 we worked with Trading Standards to update our Word of Mouth Directory which provides information about trusted local traders, recommended by older people themselves. Action to improve Energy Efficiency In 2012/13 our Spread the Warmth projects provided information and advice focusing specifically on measures to combat fuel poverty and to reduce the impact of cold weather for older people. We delivered active education sessions to 6 local groups of older people on the importance of keeping warm, good nutrition, exercise to keep warm, and home safety, using the Age UK recipe booklet and the Staying Warm booklet to support this. Funding provided through Department of Health Cosy Homes grants, Wilkinsons Winter grants and Age UK Preparing for Winter grants enabled us to offer energy efficient products. We undertook electric blanket safety testing for local older people and supplied replacement energy efficient electric blankets where appropriate. We also distributed day blankets (slankets). Through all our programmes we made referrals to our home safety assessment service for heating assessments, advice on draught insulation and general security checks. In 2012/13 we reached a wide range of people in later life We have reached people in disadvantaged areas In 2012/13 21% of people who accessed our services lived in Wolverhampton s most disadvantaged wards - East Park, Graiseley, Heath Town. We have reached people of different ages in later life. 15% of people who accessed our services in the year were over 85 more than double the city population of 6%. 5% of service users were aged 55 and under. 9

12 We have reached across different communities We recruit staff and volunteers with first-hand knowledge of the challenges faced by older people within minority communities. Through the year 35% of our staff and 33% of our volunteers were from minority communities. In 2012/13 23% of people using our services were from black, asian and minority ethnic communities. In Wolverhampton as a whole 16% of older people were from Black & Minority Ethnic Communities. 10

13 IT & digital inclusion We make it a priority within all of our programmes to support individuals to make greater use of computers, aiming to increase the number of people over 50 who access information over the internet. We recognise that there may be significant barriers to overcome, so in 2012/13 we started twice weekly drop-in IT sessions at Hupton House, in partnership with the Over 50s Forum. In these sessions volunteer IT mentors support individuals to gain basic IT skills and to access information via the internet. We set up our website in August 2012, linked to Age UK s national website. Month on month the number of visitors to our website increased, reaching 371 in March Our volunteers We could not undertake all the work we do without the magnificent support of our volunteers. They cover a range of activities, from administration support, visiting, insurance and IT. In 2012/13 they collectively donated 8,294 hours. A vital contribution to our work, volunteers time can also be valued in financial terms, at Living Wage this amounts to 65,427 donated time in the year, or to 105,500 using the recommended guide of 12 an hour. During 2012/2013 over 135 people gave their time as volunteers. The age of volunteers ranged between 16 and % of these volunteers were from black, asian and minority ethnic communities. Volunteering does not happen without effective support. Within Age UK Wolverhampton we provided organisational support amounting to 48,000 in the year. Until August 2012 we received a grant from Lloyds TSB Foundation to fund our volunteer development manager, which enabled us to 11

14 develop and focus our volunteering programme. As a result we have improved the overall volunteering experience and therefore the services provided for local people. Some of these volunteers are also beneficiaries. The volunteer development manager has reviewed all areas of the volunteering programme to ensure that we recruit the right volunteers with the right skills to the right roles. Where applicable we have trained volunteers in new skills to enable them to feel supported and confident within their roles. We held 11 volunteer enrolment sessions through which we recruited 35 new volunteers in the year. The volunteer service inductions have remained an important part of the programme, as this allows volunteers to be inducted into each service area. In addition to this a new volunteer handbook has been produced and rolled out to new and existing volunteers. The handbook has provided volunteers with useful information on health & safety, supervision & support, safeguarding adults. Throughout the year we organised 4 Age UK Wolverhampton volunteer/staff induction days called getting to know Age UK Wolverhampton and 41 people attended these events. These induction days have continued to prove very useful, as the induction provides volunteers with a greater understanding and awareness of the organisation, the services we provide to service users, safeguarding adults procedures and the importance of volunteering to all our programmes. To celebrate Volunteer s Week we invited all volunteers to attend from across the services to recognise the valuable contribution they make to the organisation. This is an important event in our yearly calendar, as we gain feedback from volunteers, arrange training workshops, and are able to present long service awards for 5, 10, 15 and 20 years of service. Volunteer meetings are arranged and they are encouraged to attend to get an update on organisational changes, receive training and it s an opportunity for them to socialise with other volunteers. As an organisation we were very pleased to see that 100% of the volunteers who completed the volunteer satisfaction questionnaire said they would recommend Age UK Wolverhampton to a friend or relative as a good place to volunteer. The volunteers also highlighted that through volunteering they have: increased their awareness of local communities increased their confidence & social skills welcomed the opportunity to develop social networks through volunteering. What did people think of the services we provided in 2012/13? We conduct regular customer satisfaction surveys with 10% of our clients which clearly demonstrate the further outcomes of our work. In 2012/13, 71% of people using our Information and Advice service told us that they feel more independent; 51% were more aware of their choices and 51% told us that their income has been increased. These results inform development of new services and improvements to existing services. A regular report of all compliments and complaints received is submitted to the Quality Committee for review and recommendations on appropriate action. The Committee also reviews the efficiency of their handling. 12

15 We welcome and encourage feedback from older people and carers who use our services, both negative and positive. We have a Customer Feedback Policy which ensures their effective handling and a system to ensure that we listen and use the information to continually improve. Service user satisfaction and key outcome by service Would you recommend us? Key Outcome achievement Trading I&A Supportive Discharge Service Safety Support Luncheon Clubs Visiting Service Telephone Support 98% 100% 100% 100% 100% 100% Less Worry 80% Increased Knowledge measured by: Increased awareness of choices 51% Increased legal rights knowledge 11% Felt safe & Supported when brought home from hospital 100%* *based on 9 months of this exact wording of question Feel safe & secure when opening the door 63% * *based on 9 months of this exact wording of question Gives a reason to go out 94.5% Made new friends 100% Someone to talk to 100% Someone to talk to 100% Insurance products The trading activities of Age UK Wolverhampton are delivered through our trading subsidiary Mainstack Limited and Age UK Enterprises. Income was generated through the sale of quality products including general insurance for home, car, motor breakdown and travel. Net income is covenanted to the charity to enable us to continue to meet the needs of older people. Wills Service We offer a Will Writing Service, which is provided by an independent professional through prebooked appointments, for a relatively low fee. Over 1,000 people enquired about and made use of this service in Tax Help Service We also offer free tax advice by volunteer qualified accountants and arranged through a tax charity. 149 people were able to make use of this service during the year. 13

16 Planning for the future As last year, in the coming winter our Spread The Warmth initiatives will highlight the issue of unnecessary deaths of older people in cold weather. Through all our programmes we will provide information and advice about practical steps that individuals can take to keep warm. We will continue our 3 year funding strategy to diversify our income streams in order to increase the financial sustainability of our charitable activities. We will launch Help at Home as a charged-for service to offer practical help for older people to enable them to stay living independently in their own home for as long as possible. The service will offer general cleaning, help with laundry and ironing, cooking a simple meal, light gardening and accompanying to appointments or shopping. During 2013/14 we anticipate a significant number of enquiries coming from people contacting us on behalf of a relative or friend and we will take this into account in our information and our promotion material. We see the website, telephone and as becoming more significant access routes for family and friends, especially those living elsewhere who may be concerned about an older relative in Wolverhampton. We will continue to build our links with local organisations and explore opportunities to work together for the benefit of older people, their families and carers. We will be working as a core partner in the Big Lottery funded programme Fulfilling Lives: Ageing Better to tackle loneliness and isolation among older people. We will continue the marketing initiatives started in 2012/13, and we will develop our use of social media to promote all the services we provide. Risk Management Policy All the major risks to which the Charity is exposed have been identified by the Trustees and actions agreed at appropriate Committee and Board Meetings to mitigate those risks. The Trustees are satisfied that risk is kept at a level commensurate with the Charity s overall operations. Strategic Risks: The Board recognises the importance of providing clear strategic direction to ensure we achieve the charity s strategic objectives while facing the challenges of a rapidly changing funding environment. Forging strategic alliances with partner organisations will be a key element in the development of existing and new services for older people in Wolverhampton. Internal Financial Risks: Our trading covenant falling below target would be a significant financial risk for the organisation. Management resources are in place to achieve targets and to increase our marketing activity. The risk of financial mismanagement and, in the extreme, fraudulent activity is minimised within Age UK Wolverhampton by having in place robust financial controls and policies and procedures for safe management of financial resources. 14

17 External Financial Risks: The largest risk identified is the potential impact of a significant reduction in key funding. In common with most charities, Age UK recognises the changing funding environment and seeks to minimise reliance upon any single source of funding for its services. Trustees have developed a 3 year funding strategy to address this by diversifying our income streams. It is the task of the Chief Executive to implement this strategy and to liaise closely with all funders to identify diverse funding opportunities. Reputational risks: There is a risk that the strategy to increase the proportion of unrestricted income from trading, retail and the introduction of a charged for service may be seen as a move away from our charitable principles. This risk will be addressed through clear messages that all unrestricted income from these sources goes back to the charity to support the cost of our programmes. Any service user dissatisfaction may cause a risk to our reputation. Our Quality Committee reviews all complaints and undertakes satisfaction surveys of 10% of our service users. These surveys show consistently high levels of satisfaction with the services and support provided. Our funding In 2012 a three year Income Generation Strategy was developed to move the charity to a more sustainable financial position. The aim of the Strategy is to diversify our income streams, to reduce over-reliance on public funds and to increase unrestricted funds. Wolverhampton City Council has provided funding for our wide range of Preventative Services for older people, and has continued to support the organisation s core management costs. We value this support, but Trustees recognise that in the current funding climate steps need to be taken to reduce the proportion of our income from one source. In 2012/13 our social enterprise arm, Mainstack Limited, generated 52,868 income for our charitable activities through the sale of insurance and financial products that have been designed & robustly tested to meet the needs of older people. The closure of the restaurant in January 2013 was a big step and concern has been expressed by some service users, however this did remove a financial drain on the organisation. In this year Trustees agreed to invest 25,000 from free reserves to open a shop in Bilston as a joint venture with Age UK. It is anticipated that this shop will generate a new source of income for our charitable programmes and will provide a base to deliver our trading programme and information and advice. Last year Trustees set an objective to develop a charged-for service to provide practical support in the home. Trustees recognised that this help could not be funded through grant income, but is a service that is needed by older people in Wolverhampton. Plans have been drawn up and the new Help at Home Service will be launched in 2013, offering practical help for older people to enable them to stay living independently in their own home for as long as possible In the year Trustees also agreed an investment from free reserves to create a dedicated Income Generation post. As a result, steps have been taken to increase support for our services through charitable donations from local companies and individuals. We continue to receive valuable support from people who remember our work through legacies. 15

18 We have continued to receive valuable support through charitable grants & donations. We are grateful for the support of E:ON and Age UK for energy efficiency action in the year, and for the Barrow Cadbury Trust s contribution towards the cost of our refurbishment of the ground floor at Hupton House. Financial review 2012/13 A summary of the financial activities undertaken by the charity is set out below. The overall position at the end of the year showed a net deficit of 64,498. During the year the charity undertook an extensive staffing restructure at a cost of 57,000 (including defined-benefit pension strain of 22,000) and began new initiatives for income generation, with the object of reducing dependence upon public sector funding; at a cost of 14,000. The core activities, before restructure and income generation initiatives showed a small surplus of 7,000. The levels of unrestricted reserves at the year-end were 503,000. This includes reserves tied to our property, a reserve of 118,000 to cover our pension liability, and designated reserves of 60,000 Free reserves were 209,000, represented by cash or net current assets likely to become cash within one month. Reserves Policy The Trustees maintain a clear policy on reserves, preferring, where possible, to designate available reserves to new service delivery rather than cash accumulation at the bank (after due provision for all appropriate legal and commercial necessities).designated Reserves of 60,000 are held for investment in the Age UK shop in Bilston, Income Generation and setting up the Help at Home Service. The Trustees are aware of the defined benefit pension scheme liability as detailed in the notes to the accounts and a cash backed provision of 118,000 has been set aside within the reserves. The Trustees are conscious that the future advice from the Pensions Actuary may, in the light of current market conditions, require an increase in the provision made and will bear this in mind when deciding on the use of unrestricted reserves. The current policy states that free reserves should not fall below the equivalent of 3 months normal operational expenditure. Governance structure Structure, Governance and Management The day-to-day management of Age UK Wolverhampton is ultimately the responsibility of the Chief Executive, delegated by the Trustees. The Chief Executive is also responsible, with the Board of 16

19 Trustees, for the strategic direction of the organisation and the development and delivery of services and projects within it. An audit of Board skills was carried out at the end of this year and an action plan developed to address skills gaps through co-options and the recruitment of new Trustees. Governing Document Age Concern Wolverhampton, trading as Age UK Wolverhampton, is a charitable company limited by guarantee; it became incorporated on 8th August 1995 after beginning life as the Old People's Welfare Council (O.P.W.C.) in The company was established under a Memorandum of Association that established the objects and powers of the charitable company and is governed by its Articles of Association. In the event of the company being wound up members are each required to contribute an amount not exceeding 1. Individual membership of Age UK Wolverhampton Individual members must be sympathetic to the Mission and Objectives of Age UK Wolverhampton and the aim of this new category is to bring specific skills to the organisation. Individual members may come from any sector and will have full rights to vote and be nominated to the Board. Recruitment and Appointment of Board of Trustees Although Age UK Wolverhampton is a small to medium sized organisation, it is a complex one operating in what is an increasingly challenging environment. It is therefore important that the skills and competencies of the Trustee body are maintained at a high level. Age UK Wolverhampton is involved in a very diverse range of activities as outlined in this report and therefore the Trustee body needs to demonstrate a broad range as well as a high level of skills in carrying out its governance role. Under the requirements of the Articles of Association the members of the Board are elected to serve for a period of three years after which they must be re-elected at the next Annual General Meeting. Trustees Induction and Training A familiarisation meeting is arranged with the Chief Executive which is intended to provide new Trustees with an overall perspective of the organisation and an insight into the work of Age UK Wolverhampton. They receive a pack with information relating to Age UK Wolverhampton, its history, work, services and funding and the relationship with the trading subsidiary company, Mainstack Limited. New Trustees are also required to attend a day s induction along with new staff and volunteers. The strategic direction of Age UK Wolverhampton is discussed at regular Board and Management development days, priorities for the year are set and the overarching development plan is agreed. All Trustees not only serve on the main Board but also are actively involved in one or more of the Committees of the Board:- Business Development and Governance Financial Performance and Risk Management 17

20 Quality Income Generation Liaison Committee In addition to these regular Committees, the Board uses task and finish groups to address particular issues. Following review by a task and finish group new governance arrangements have been implemented in 2012/13. The trading subsidiary company, Mainstack Limited, has a separate Board and governance structure. Organisation Structure Age UK Wolverhampton has a Board of Trustees comprising 8 members plus the Chair. The Board meets quarterly and is responsible for the strategic direction and policy of the Charity. In addition, the City Council nominate a councillor with representational (observer) status on the board. The Chief Executive has delegated responsibility from the Board for the provision and management of services and the day-to-day operation of Age UK Wolverhampton. The Chief Executive works closely with the Management Team to ensure a consistent and sustainable approach to service delivery and to achieve the strategic objectives of the organisation. The Chief Executive manages and supervises all senior managers and acts as Approved Person to the trading company of Mainstack Limited. The Chief Executive is supervised by the Chairman of the Board. Age UK Wolverhampton has on its staffing establishment at year end 35 staff. Many of these staff are part time, we therefore have the equivalent of just over 24 full time staff involved in the delivery of the services and programmes of Age UK Wolverhampton. Quality Control Age UK Wolverhampton has in place a robust quality assurance system which ensures it meets its contractual obligations and delivers a high standard of service at all times. We have held ISO 9001 since February 2011 and were reapproved on 11th February Quality Audits are undertaken monthly by the Management Team and are a standing agenda item at Management Team Meetings. The Board of Trustees monitor quality through its Quality Committee which meets on a quarterly basis. The Quality Committee is responsible for the oversight of quality delivery of existing products and services, including performance against contracts and the organisation s quality of operation and delivery. Statement of Trustees responsibilities The Trustees are responsible for preparing the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. 18

21 Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing those financial statements, the Trustees are required to: select suitable accounting policies and then apply them consistently make judgements and estimates that are reasonable and prudent prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure the financial statements comply with the Companies Act The Trustees are also responsible for safeguarding the assets of the company and for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the Trustees are aware: there is no relevant audit information of which the company s auditor is unaware and the Trustees have taken all the steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. 19

22 Auditor In accordance with Section 487(2) of the Companies Act 2006 a resolution proposing the re-appointment of Jordan & Company will be submitted to the next Annual General Meeting. Small company provision This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act Registered Office: 93 Darlington Street Wolverhampton West Midlands WV1 4EX Signed by order of the Trustees Susan Spencer Company Secretary Approved by the Trustees on 4 th November

23 INDEPENDENT AUDITOR S REPORT TO THE TRUSTEES YEAR ENDED 31ST MARCH 2013 We have audited the financial statements of Age Concern Wolverhampton for the year ended 31 st March 2013 on pages 23 to 34. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Respective responsibilities of trustees and auditor As explained more fully in the Trustees Responsibilities Statement on page the trustees, (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of financial statements and for being satisfied that they give a true and fair view. We have been appointed auditor under the Companies Act 2006 and section 151 of the Charities Act 2011 and report in accordance with those Acts. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board s Ethical Standards for Auditors. Scope of the audit of the financial statements An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or error. This includes an assessment of: whether the accounting policies are appropriate to the charitable company s circumstances and have been consistently applied and adequately disclosed; the reasonableness of significant accounting estimates made by the trustees; and the overall presentation of the financial statements. In addition, we read all the financial and non-financial information in the Trustees Annual Report to identify material inconsistencies with the audited financial statements. If we become aware of any apparent material misstatements or inconsistencies we consider the implications for our report. Opinion on financial statements In our opinion the financial statements: give a true and fair view of the state of the group s and the parent charitable company s affairs as at 31 st March 2013, 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 Opinion on other matter prescribed by the Companies Act 2006 In our opinion the information given in the Trustees Annual Report for the financial year for which the financial statements are prepared is consistent with the financial statements. 21

24 INDEPENDENT AUDITOR S REPORT TO THE TRUSTEES (CONTINUED) YEAR ENDED 31ST MARCH 2013 Matters on which we are required to report by exception We have nothing to report in respect of the following matters where the Companies Act 2006 and the Charities Act 2011 requires us to report to you if, in our opinion: the parent charitable company has not kept adequate and sufficient accounting records, or returns adequate for our audit have not been received from branches not visited by us; or the parent charitable company financial statements are not in agreement with the accounting records and returns; or certain disclosures of trustees remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit; or the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies exemption in preparing the Trustees Annual Report. M.A. Jordan (Senior statutory auditor) for and on behalf of Jordan & Company, Statutory Auditor Knighton House, 62 Hagley Road, Stourbridge, West Midlands, DY8 1QD 4 th November 2013 Jordan & Company is eligible to act as an auditor in terms of section 1212 of the Companies Act

25 CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) YEAR ENDED 31ST MARCH 2013 Unrestricted Restricted Total Funds Total Funds Funds Funds Notes Incoming resources Income from Charitable Services 3 13, , , ,538 Legacies and Donations 9,492-9,492 11,364 Activities from generating funds: Non-charitable trading 4 156, , ,642 Operations 5 11,828-11,828 18,398 Investment income 6 5,614-5,614 3,036 Total incoming resources 197, , , ,978 Resources expended Costs of generating funds: Fundraising Costs 24,808-24, Commercial trading operations 4 103, , ,700 Sub total cost of generating funds 128, , ,751 Charitable activities 105, , , ,095 Governance costs 16,549 43,184 59,733 64,381 Total resources expended 7 250, , , ,227 Net income (outgoing) (53,248) (4,250) (57,498) 38,751 resources before provisions Movement in Defined Benefit Pensions Scheme Liability 21 7,000) - (7,000) (46,000) Net Movement in funds (60,248) (4,250) (64,498) (7,249) Reconciliation of funds Total funds brought forward 563,145 10, , ,080 Total funds carried forward 502,897 6, , ,831 The statement of financial activities includes all gains and losses recognised in the year. All incoming resources and resources expended derive from continuing activities. 23

26 CONSOLIDATED AND CHARITY BALANCE SHEETS YEAR ENDED 31ST MARCH 2013 Group Charity Notes Fixed assets Tangible assets , , , ,599 Investments , , , ,699 Current assets Stock 15 1,823 3,074 1,823 1,633 Debtors 16 82,717 64,765 98,456 67,434 Cash at bank and in hand 309, , , , , , , ,292 Creditors: amounts falling due within one year 17 (60,222) (26,416) (53,651) (18,160) Net current assets 333, , , ,132 Total assets less current liabilities 627, , , ,831 Defined Benefits Pension Scheme Liability 21 (118,000) (111,000) (118,000) (111,000) Net assets including pension liability 509, , , ,831 Unrestricted funds General , , , ,145 Restricted funds 19 6,436 10,686 6,436 10, , , , ,831 These financial statements have been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act These financial statements were approved by the members of the Board of Trustees on 4th November 2013 and are signed on their behalf by: Rev. A G Kinch Company Registration Number