Age UK spent £1.17m on redundancy payouts in 2013, on top of £1.18m in 2012, and has made around 100 more staff redundant since the end of its last financial year.

This latest round of layoffs will see the charity incurring further costs that will be reflected in the current year’s accounts.

However, it expects to achieve salary savings going forward of nearly £4m a year just from the latest round of redundancies.

The Age UK Group’s annual accounts for the year to 31 March 2013, published this week, confirm previous reports of around 100 recent redundancies at the organisation, prompted by a review of its structure.

It says the majority of these changes will be reflected in the 2013/14 accounts “with an estimated 100 redundancies in total resulting in an ongoing salary reduction of nearly £4m in a future full year, plus other savings in expenditure such as from procurement”.

Age UK also states in the notes to the accounts that the total redundancy cost for 2013 was £1.173m, just less than 2012’s £1.182m.

Nevertheless, the group finished the 2013 period with 1,973 full-time equivalent staff, 42 more than at the end of 2012.  Some 38 staff earned over £60,000, compared with 41 in 2012.

Age UK’s overall income dropped by 5.2 per cent over the year to £158.9m, due mainly to a drop in fundraising income from donations and legacies. Yet spending on charitable activities fell by just 3 per cent. The charity spent £78m on charitable activities, well above the total fundraising income of £43.6m.  This was possible thanks to the contribution from the charity’s trading subsidiaries, including shops, insurance and other joint ventures.