Age UK's income and charitable spending rise

Accounts for the year to 2012 also show that its pension scheme caused a fall in total funds on its balance sheet

Age UK
Age UK

The income of Age UK rose by £11.3m to £167.7m in the year to March 2012, according to its annual report and accounts filed this week.

The accounts also show that the charity spent £80.4m – less than half its total income – on charitable activities, compared with £72.5m the previous year. Almost all the rest was spent on raising funds.

Voluntary income, which cost £6.5m to raise, was £50.1m. The charity raised £109.3m from charity shops, insurance and other trading, but spent £77.3m to raise that income.

Age UK spent £1.8m less than it earned in the year, but the total funds on its balance sheet fell by £6.7m because of a loss in the value of its defined-benefit pension scheme.

A joint statement by chair Dianne Jeffrey and chief executive Tom Wright said that the charity had had "a strong year financially" and had continued to deliver on its core mission of improving later life.

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