Wait for report on Heyday spending

Age Concern England will not reveal how the £5m invested in its subsidiary Heyday was spent until it publishes its annual report later this year.

The current financial year ends on 5 April. The report is not expected to be released until this summer at the earliest.

Age Concern England declined to say how much it spent on advertising for and since Heyday's launch last May or how much it paid to create a new website for the organisation.

Up to 33 Heyday staff face redundancy after the organisation failed to hit its membership targets. Three senior staff from Age Concern subsidiaries have resigned over their concerns at the way Heyday was run (Third Sector, 14 February).

A spokesman for Age Concern said: "Details of Heyday income and expenditure will be disclosed in the usual way when the annual report and accounts are published later in the year."

Heyday is a membership organisation for people nearing retirement.

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