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REGISTERED COMPANY NUMBER: 03958840 (Wales)
REGISTERED CHARITY NUMBER: 1114492













FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023

FOR

AWEL AMAN TAWE

AWEL AMAN TAWE






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Report of the Trustees 1 to 6

Report of the Independent Auditors 7 to 9

Statement of Financial Activities 10

Balance Sheet 11

Cash Flow Statement 12

Notes to the Cash Flow Statement 13

Notes to the Financial Statements 14 to 28

AWEL AMAN TAWE (REGISTERED NUMBER: 03958840)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023


The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES
Objectives and aims
The charitable company is a non-profit making organisation whose objectives are:

- To advance the education of the public, in particular but not exclusively in energy efficiency and renewable resources for the public benefit;

- The preservation and conservation of the environment through the promotion and use of renewable energy and energy saving measures;

- The relief of poverty;

- To conduct research and development relating to the utilisation of energy conservation practices and renewable energy technologies and to use the research for the public benefit;

- To provide or assist in the provisions of recreational facilities in the interests of social welfare with a view to advancing education and improving the conditions of life for those for whom the facilities are primarily intended;

- The relief of unemployment for the public benefit, in particular but not exclusively by the provision of advice, training and support for the unemployed;

- The relief of sickness and the preservation and protection of good health among people residing permanently or temporarily in South Wales and further afield;

- The promotion of the arts, culture and heritage; and

- Such other charitable purposes as may from time to time be determined.


The charitable company's income derives from contracts and grants from local and central government, charitable trusts, donations and trading activities.


AWEL AMAN TAWE (REGISTERED NUMBER: 03958840)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023

ACHIEVEMENT AND PERFORMANCE
Charitable activities
Annual Report - 2023

The overall aims of the charity are to tackle climate change in Wales and enable local regeneration in the Upper Swansea and Amman Valley. To help achieve this, we:

- Engage people in climate change action
- Tackle fuel poverty
- Low carbon, education and arts projects
- Educational and arts programme
- Create jobs

These aims are delivered by Awel Aman Tawe (AAT), in part, through the two co-ops it set up, These are Awel Co-op (community wind farm) and Egni Co-op (installs rooftop solar on schools, community buildings and businesses in Wales). AAT employs staff to manage these co-ops and develop further projects. We've included information about both co-ops here as we want readers to gain an understanding of the full scope of our work.

Engage people in climate change action
Combined, our two co-ops, Awel and Egni, reduced carbon dioxide emissions by more than 3,000 tonnes and supplied the equivalent of more than 4,000 homes in 2023. Total installed capacity was 9,310 kWp and we generated 15,676,049 kWh of clean electricity in 2023. Egni remains the largest rooftop solar co-op in the UK.

We have nearly 1500 members in our co-ops. We have also over 50 schools and community groups who are members and they own over £100k of the shares, giving them a sustainable income stream. We estimate that there are over 50,000 people in these groups which now co-own the Awel and Egni Co-ops. Members include the local rugby and football clubs, over 40 schools, Merched y Wawr, the Food Bank and the Friends of Pontardawe Centre.

Education: our Education Officer, Jen James, continues to deliver a successful programme of work 'We are Energy Warriors'. This engages 40 schools with Egni solar panels and those close to Awel Co-op's wind farm in a range of sustainability and carbon reduction activities. It builds on our partnership with another charity, Energy Sparks and the STEM Ambassadors programme. Energy Sparks www.energysparks.uk has an educational portal for schools which displays electricity, gas and solar generation data in an accessible way, with a range of educational materials. Jen's work with pupils this year also included developing low-carbon model houses, arts workshops from foraged nature-based materials, and a multi-school conference on reducing energy.

We were honoured that our co-founders, Emily Hinshelwood and Dan McCallum, were chosen by the outgoing Commissioner, Sophie Howe, as members of 100 Changemakers who exemplify the Future Generations Act. The new Commissioner, Derek Walker, visited Hwb y Gors and our wind farm in 2023

Tackle fuel poverty
Egni Co-op: we now have 93 sites across Wales with 4.64 MWp of capacity. These sites saved £310k in 2023 in electricity costs (compared to £119k/year in 2022) - this increased saving is due to the higher onsite electricity costs that our sites have been paying, and Egni's solar electricity is now far cheaper by comparison. Many of our community buildings are playing a key role during the cost of living crisis, providing foodbanks and other vital services.

We won a tender with Pembrokeshire County Council to install solar on 16 schools and 4 leisure centres. Our Education programme was key to this due to additional carbon savings and pupil engagement it delivers. We continue our work with Newport Council. Overall, we are working on a pipeline of over 2MW of solar on community, business and school rooftop sites.

We have secured Redress funds to employ two fuel poverty/energy efficiency advisors for domestic households. They will be starting employment in 2024.

Hwb y Gors

AWEL AMAN TAWE (REGISTERED NUMBER: 03958840)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023

Hwb y Gors: we started refurbishment of the former Cwmgors Primary School in January 2021 and have been continuing its development it as zero carbon education, arts and enterprise centre. We've secured £2.1m of capital and loan funding towards the refurbishment and retrofitting costs. Progress can be seen on https://www.facebook.com/hwbygors. We have installed 90kW of solar and a 50kW ground source heat pump. We are engaging the community in some of the redevelopment through a range of community arts projects using textiles, stained glass and tilemaking. These draw on local heritage and nature. The opening has been delayed as we were required to secure an additional full planning permission for our Sustainable Drainage Scheme (SUDs) in the rear playground - the SUDs design incorporates the footpath around the building and hence fire exits etc, so it has not be possible to open the building prior to the SUDs work being completed. We aim to open towards the end of 2024.

Community Projects
Over 800 people have been involved in a range of engagement projects. This includes the arts projects mentioned above, and also a range of other circular economy and biodiversity events and activities. We have a core group of volunteers involved and the group won the Environmental Volunteers of the Year in the NPTCVS Voluntary Sector Awards. We work with the Local Area Coordinators and Social Prescribers to involve vulnerable people and those suffering from isolation, low-level mental health issues and bereavements.
- Repair Café: monthly repair café since February 2023, including an additional school repair café with the eco committee to repair uniforms and toys. In 2023, a total of 183 repairs were completed by our volunteers for 147 people.
- Gardening Club. The group built a food garden with equipment from Keep Wales Tidy and continues to meet weekly growing food and planting wild habitat areas.
- Weekly Stitch Club which evolved out of the heritage textile project.
- Trac Cymru: we have been selected to take part in a Welsh folk music project. This will be starting in 2024.

Taith Co-op
We have two electric vehicles and work with vulnerable groups in SW Wales to enable them to access services and support. In particular, we work with people with learning difficulties, disabilities, carers and the elderly. One of the vehicles has a wheelchair ramp. Our Taith Manager, Sachá Petrie, was shortlisted as Transport Champion of the Year at the national Community Transport Association awards. Between January 2023 and December 2023 we have supported 1965 passengers who have made 2938 journeys travelling a total of 34,497 miles. This has saved over 9.09 tonnes of carbon emissions.

Other projects
- We have secured planning permission for a ground mounted solar farm next to our turbines on the Gwrhyd. The solar would share the grid connection with our existing wind farm and we have secured agreement that we can install up to 2.23 MW of solar under our grid connection agreement. We are now securing additional agreements, developing the financial model and aim to build in 2025.

- We are also assessing the feasibility of developing 3 additional wind turbines on the Gwrhyd with a capacity of 9MW.

- We have signed MoUs with a commercial developer ESB/Coriolis for a 20% shared ownership community stake in Y Bryn windfarm near Port Talbot. We are working with Neath Port Talbot CVS (NPTCVS) and Bridgend Association for Voluntary Organisations (BAVO) on the shared ownership element https://www.ybryn-windfarm.cymru/

- We have also signed MoUs with Renantis Ltd for a stake in the Mynydd Fforch Dwm project https://mfdwindfarm.co.uk/. This is a 20MW wind farm and 6MW of solar near the village of Tonmawr, Neath Port Talbot. We are working in partnership with NPTCVS. We signed MOUs in July 2023 and the project was submitted for planning in Q3 2023.

- We have supported a number of energy efficiency surveys of community groups, rugby and football clubs in Wales. This has led to a number being successful in securing funding for solar panels, more efficient boilers and other measures.

Create Jobs
We increased our staffing numbers from 9 in 2022 to 14 people in 2023. This equates to an increase in Full Time Equivalent jobs from 7 to 11.

We were awarded 2-year funding from the Welsh Government Energy Service to employ two Development Managers. Jenny Carlisle was recruited to manage Egni and she will be supported by Anne Sawhney who will also work on other energy projects. Both will start in 2024. Jenny will manage Mike Switzer and Ellie Critchley who work on the operational and development side of Egni. We are very sad that Rosie Gillam will be leaving us in 2024 - Rosie has been a force of nature for Egni and is leaving to focus on her community resilience project, Fynnon, close to home in Pembrokeshire. Rosie will be doing a handover for Jenny and Anne, and will continue in her role as an Egni Director so we are lucky to retain her skills and knowledge. We have also appointed Stacey Mangan full time to increase our administration capacity for Egni and Awel Co-op. Stacey replaces Ilona Shadrach who was part time and has now left us to focus on her Masters and other projects. We wish to thank Ilona for all her work over the years she was with us.

AWEL AMAN TAWE (REGISTERED NUMBER: 03958840)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023


ACHIEVEMENT AND PERFORMANCE
Donors
We would like to thank all our donors and the public for their support in 2023.

FINANCIAL REVIEW
Reserves policy
Unrestricted General Charity Reserves as of 31st December 2023 are shown as £168,173 (note 19 of the accounts).

Trustees agree to hold 6 months running costs for the charity - this is based on the unrestricted Annual Expenditure of £725,549 as shown in the accounts less Solar Panel revenue of £251,904.
'-+ 10% contingency.

The reserves target equates to £260,505

Free reserves relate to general reserves over and above the reserves target. As reserves target exceeds general reserves there are no free reserves as at 31st December 2023.

Awel Aman Tawe aims to build up reserves in future years to
1) meet the reserves target; and
2) to generate free reserves enable it to continue and to expand the services it currently provides and develop new projects in the future.

This policy will be reviewed annually or when significant changes occur within the organisation.

In 2022 the Trustees agreed to designate funds towards Hwb y Gors which aligns with the charity's objectives.

Investments and other powers
The trustees have the power to expend the funds of the charitable company in such manner as they consider being beneficial for the achievement of the charitable company's objects. They are also empowered to invest such part of the funds as they see fit in the furtherance of the objects of the charitable company.

Financial Statements
The trustees consider that in view of the non-profit making status of the charitable company's activities, the terms "profit and loss" are not appropriate to giving a true and fair view. Accordingly, under the provisions of the Companies Act 2006, the term "profit and loss account" has been replaced by "income and expenditure account", and the words "profit" and "loss" by "surplus" and "deficit".

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The organisation was incorporated on 9th March 2000 and registered as a charity on the 1st June 2006.

Recruitment and appointment of new trustees
The directors of the charitable company are also charity trustees for the purpose of charity law. The rules regarding the number of directors and their appointment, reappointment and removal are contained in the Articles of Association to which reference should be made.

Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees actively review the major risks which the charitable company faces on a regular basis and we believe that maintaining our free reserves at sufficient levels to enable the charity to continue and expand the services they provide. The trustees have also examined other operational and business risks which we face and confirm that we have established systems to mitigate the significant risks.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
03958840 (Wales)


AWEL AMAN TAWE (REGISTERED NUMBER: 03958840)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023

Registered Charity number
1114492

Registered office
76-78 Gwilym Road
Cwmllynfell
Swansea
SA9 2GN

Trustees
B Jones
D Stonehouse
C McGurgan
B E Edwards
M Jervis
Ms H Roach
Ms K J Powis
Dr C M Maby
A W Lloyd
C B Johnes

Company Secretary
D McCallum

Auditors
Bevan Buckland LLP
Chartered Accountants
And Statutory Auditors
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA

Bankers
The Co - operative Bank
P.O. Box 250
Delf House
Southway
Skelmersdale
WN8 6WT

STATEMENT OF TRUSTEES' RESPONSIBILITIES
The trustees (who are also the directors of Awel Aman Tawe for the purposes of company law) are responsible for preparing the Report of the Trustees 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 which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the 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 in the Charity SORP;
-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 charitable 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 charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.


AWEL AMAN TAWE (REGISTERED NUMBER: 03958840)

REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2023


STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued
In so far as the trustees are aware:

-there is no relevant audit information of which the charitable company's auditors are unaware; and
-the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

AUDITORS
The auditors, Bevan Buckland LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Approved by order of the board of trustees on 25 September 2024 and signed on its behalf by:





B E Edwards - Trustee

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
AWEL AMAN TAWE

Opinion
We have audited the financial statements of Awel Aman Tawe (the 'charitable company') for the year ended 31 December 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement 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 (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the charitable company's affairs as at 31 December 2023 and of its 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.

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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the 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
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors 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 this gives rise to a material misstatement in the financial statements themselves. 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 Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Trustees has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
- the 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 take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
AWEL AMAN TAWE


Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities, 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 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 charitable company or to cease operations, or have no realistic alternative but to do so.

Our 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 a Report of the Independent Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Extent to which the audit was considered capable of detecting irregularities, including fraud
We identify and assess the risks of material misstatement of the Financial Statements, whether due to fraud or error, and then, design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

We discussed our audit independence complying with the Revised Ethical Standard 2019 with the engagement team members whilst planning the audit and continually monitored our independence throughout the process.

Identifying and assessing potential risks related to irregularities.
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:
- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;
- detecting and responding to the risks of fraud and whether they have knowledge of any actual. suspected or alleged fraud;
- the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations;
- discussing among the engagement team how and where fraud might occur in the financial statements and any potential indicators of fraud.
- obtaining an understanding of the legal and regulatory frameworks that the Charity operates in, focusing on those laws and regulations that had a direct effect on the financial statements or that had a fundamental effect on the operations of the Charity, The key laws and regulations we considered in this context included the UK Companies Act and relevant tax legislation.

Audit response to risks identified
In addition to the above, our procedures to respond to risks identified included the following:
- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with relevant laws and regulations;
- enquiring 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;
- reading minutes of meetings of those charged with governance;
- in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments;
- assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and
- evaluating the operational rationale of any significant transactions that are unusual or outside the normal course of operations.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

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 Report of the Independent Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
AWEL AMAN TAWE


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. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' 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, for our audit work, for this report, or for the opinions we have formed.




Alison Vickers (Senior Statutory Auditor)
for and on behalf of Bevan Buckland LLP
Chartered Accountants
And Statutory Auditors
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA

25 September 2024

AWEL AMAN TAWE

STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 DECEMBER 2023

2023 2022
Unrestricted Restricted Total Total
funds funds funds funds
Notes £    £    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 228,313 - 228,313 100,000

Charitable activities 5
Grant Income 61,902 383,352 445,254 701,355

Other trading activities 3 399,645 - 399,645 350,342
Investment income 4 6,244 - 6,244 10,620
Total 696,104 383,352 1,079,456 1,162,317

EXPENDITURE ON
Charitable activities 6
Energy and environmental projects 725,549 139,982 865,531 702,121

NET INCOME/(EXPENDITURE) (29,445 ) 243,370 213,925 460,196


RECONCILIATION OF FUNDS
Total funds brought forward 1,090,509 1,103,877 2,194,386 1,734,190

TOTAL FUNDS CARRIED FORWARD 1,061,064 1,347,247 2,408,311 2,194,386

AWEL AMAN TAWE (REGISTERED NUMBER: 03958840)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Unrestricted Restricted Total Total
funds funds funds funds
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 12 2,193,891 1,218,777 3,412,668 2,891,009
Investments 13 2,001 - 2,001 12,082
2,195,892 1,218,777 3,414,669 2,903,091

CURRENT ASSETS
Debtors 14 225,763 115,342 341,105 529,468
Cash at bank and in hand 263,521 13,128 276,649 178,510
489,284 128,470 617,754 707,978

CREDITORS
Amounts falling due within one year 15 (274,700 ) - (274,700 ) (188,734 )

NET CURRENT ASSETS 214,584 128,470 343,054 519,244

TOTAL ASSETS LESS CURRENT LIABILITIES 2,410,476 1,347,247 3,757,723 3,422,335

CREDITORS
Amounts falling due after more than one year 16 (1,349,412 ) - (1,349,412 ) (1,227,949 )

NET ASSETS 1,061,064 1,347,247 2,408,311 2,194,386
FUNDS 19
Unrestricted funds 1,061,064 1,090,509
Restricted funds 1,347,247 1,103,877
TOTAL FUNDS 2,408,311 2,194,386

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 25 September 2024 and were signed on its behalf by:





B E Edwards - Trustee

AWEL AMAN TAWE

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023

2023 2022
Notes £    £   

Cash flows from operating activities
Cash generated from operations 1 433,951 688,032
Interest paid (218,485 ) (147,050 )
Net cash provided by operating activities 215,466 540,982

Cash flows from investing activities
Purchase of tangible fixed assets (607,263 ) (1,021,614 )
Sale of fixed asset investments 10,081 89,919
Net cash used in investing activities (597,182 ) (931,695 )

Cash flows from financing activities
New loans in year (200,000 ) (100,000 )
Loan repayments in year 328,395 -
Related party loan movement 351,460 339,896
Net cash provided by financing activities 479,855 239,896

Change in cash and cash equivalents in
the reporting period

98,139

(150,817

)
Cash and cash equivalents at the
beginning of the reporting period

178,510

329,327
Cash and cash equivalents at the end of
the reporting period

276,649

178,510

AWEL AMAN TAWE

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
2023 2022
£    £   
Net income for the reporting period (as per the Statement of Financial
Activities)

213,925

460,196
Adjustments for:
Depreciation charges 85,605 68,025
Interest paid 218,485 147,050
Increase in debtors (128,226 ) (42,967 )
Increase in creditors 44,162 55,728
Net cash provided by operations 433,951 688,032


2. ANALYSIS OF CHANGES IN NET DEBT

At 1.1.23 Cash flow At 31.12.23
£    £    £   
Net cash
Cash at bank and in hand 178,510 98,139 276,649
178,510 98,139 276,649

Debt
Debts falling due within 1 year (78,051 ) (6,934 ) (84,985 )
Debts falling due after 1 year (1,227,949 ) (121,463 ) (1,349,412 )
(1,306,000 ) (128,397 ) (1,434,397 )
Total (1,127,490 ) (30,258 ) (1,157,748 )

AWEL AMAN TAWE

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The accounts are prepared in sterling

The charity constitutes a public benefit entity as defined by FRS 102.

Legal status of the charity
The charity is private limited company by guarantee incorporated in England and Wales and has no share capital.

Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Donations, are recognised when the Charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.

Income on consultancy and contracts is recognised on an accruals basis and recognised in the period in which it relates to.

Income from Solar Panels is recognised over the period of electricity generation on an accruals basis.

Management charge income is recognised in relation to the period which the management services apply to, on an accruals basis.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to that category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Allocation of support costs
Support costs are those functions that assist the work of the charity but do not directly relate to charitable activities. Support costs include back office costs, insurance and governance costs which support the charity's activities. These costs have been allocated to expenditure on charitable activities

Depreciation
Depreciation of fixed assets is calculated to write off their cost less any residual value over their estimated useful lives as follows:

AWEL AMAN TAWE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

1. ACCOUNTING POLICIES - continued

Depreciation

Freehold landNo depreciation
Freehold buildings2% straight line
Solar panels5% straight line
Plant & machinery:Additions pre 200815% reducing balance
Additions 2008 onwards25% straight line
Office equipment:Additions pre 200815% reducing balance
Additions 2008 onwards25% straight line



Assets purchased which have a value of less than £1,000 are expensed to the profit and loss account in the year of purchase.

Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.


Pensions
Contributions are charged to the income and expenditure account as they become payable in accordance with the rules of the scheme.

Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Cash at bank and in hand
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts arc shown within borrowings in current liabilities.

Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Fixed asset Investments
Shares held in fixed asset investments are held at cost.

Significant management judgements and key sources of estimation uncertainty

AWEL AMAN TAWE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

1. ACCOUNTING POLICIES - continued

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances. The results of which form the basis of making the judgements about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised and in any future periods affected.

Significant management judgements
The following are management judgements in applying the accounting policies of the charity that have the most significant effect on the amounts recognised in the financial statements.

Estimation of the useful economic life of buildings,solar panels, plant and machinery and office equipment.

2. DONATIONS AND LEGACIES
2023 2022
£    £   
Donations 228,313 100,000

3. OTHER TRADING ACTIVITIES
2023 2022
£    £   
Contracts and consultancy 16,764 117,653
Co-op Management 107,874 100,817
Solar panel revenue 251,904 131,872
Transport trading income 9,845 -
Energy surveys 13,258 -
399,645 350,342

4. INVESTMENT INCOME
2023 2022
£    £   
Investment income 6,244 10,620

Investment income includes interest earned on share capital invested in Awel Ltd and Egni.


AWEL AMAN TAWE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

5. INCOME FROM CHARITABLE ACTIVITIES
2023 2022
Activity £    £   
Grants Grant Income 445,254 701,355

Grants received, included in the above, are as follows:
2023 2022
£    £   
YouCoop - 1,577
Awel y Gwrhyd CIC - S106 Community Benefit 61,902 33,642
Awel y Gwrhyd CIC - Common Land - 22,428
Community Energy Fund Award (Younity) 3,750 -
WCVA - Kickstart - 9,834
Community Facilities Programme – Welsh Government - 50,000
Western Valleys Community Transport Scheme, Community Transport
Association - Welsh Government

-

115,575
Third Sector Resilience Fund – Wales Council for Voluntary Action (WCVA) - 50,000
People and Places - The National Lottery Community Fund - 100,000
Welsh Government’s Landfill Disposal Tax Communities Scheme – Wales
Council for Voluntary Action (WCVA)

-

49,600
Garfield Weston Foundation - 15,000
Ein MIlltir Sqwar Defibrillator - 1,679
Morel Trust - Hwb y Gors - 3,000
Clothworkers Foundation - Hwb y Gors - 100,000
West Glamorgan Regional Partnership-Learning Disabilities Fund - 11,537
Heritage Lottery - Ein Milltir Sqwar - 39,400
Heritage Lottery - Hwb y Gors - 20,000
Ashley Family Foundation - Hwb y Gors - 25,000
Welsh Government Energy Service- Gwrhyd Solar/Wind - 25,000
Bus Services Support Grant- Community Transport- NPTCBC 7,652 6,297
NPTCVS UK Community Renewal Fund – Third Sector Grants Scheme - 24,616
Other grant income - (2,830 )
National Lottery - Hwb y Gors 60,000 -
Coalfields Regeneration 7,000 -
Baily Thomas 3,000 -
National Grid - Community Matters 4,150 -
National Lottery - Sensory Story of Energy 10,000 -
SBUHB RIF Third Sector 19,851 -
NPTCBC Valleys & Villages - Hwb y Gors 185,000 -
Tai Tarian Garden Project 500 -
Pembrokeshire Coast National Park Authority - We Are Energy Warriors 16,449 -
Pobl - Repair Cafe 1,000 -
NPTCVS - UK Shared Prosperity 65,000 -
445,254 701,355


AWEL AMAN TAWE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. CHARITABLE ACTIVITIES COSTS
Support
Direct costs (see
Costs note 7) Totals
£    £    £   
Energy and environmental projects 818,660 46,871 865,531

7. SUPPORT COSTS
Support
costs
£   
Energy and environmental projects 46,871

8. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2023 2022
£    £   
Depreciation - owned assets 85,604 68,025
Auditors remuneration - audit services 9,000 9,000
Auditors remuneration - accountancy and other services 4,500 4,500

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.


10. STAFF COSTS

2023 2022
£    £   
Wages and Salaries 324,091 247,070
Social Security Costs 28,448 18,204
Pension Costs 17,206 12,577
369,747 277,850


The staff costs are included in a number of the expense headings within the detailed income and expenditure account.

The average number of employees during the year was as follows:
2023 2022
Management/ Finance 5 5
Projects 8 7
13 12

No employee was paid more than £60,000.


AWEL AMAN TAWE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

10. STAFF COSTS - continued

The Key Management Personnel of the Charity received remuneration of £120,467 (2022: £87,476) , this includes gross salary paid, employers national insurance contributions and employers pension contributions. The number of staff classed as key management was 3 for 2023 and 2 for 2022.

Defined Contribution Pension Scheme

The charitable company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charitable company in an independently administered fund.

The pension cost charge represents contributions payable by the charitable company to the fund and amounted to £17,206 (2022: £12,577)

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
funds funds funds
£    £    £   
INCOME AND ENDOWMENTS FROM
Donations and legacies 100,000 - 100,000

Charitable activities
Grant Income 54,817 646,538 701,355

Other trading activities 350,342 - 350,342
Investment income 10,620 - 10,620
Total 515,779 646,538 1,162,317

EXPENDITURE ON
Charitable activities
Energy and environmental projects 462,124 239,997 702,121

NET INCOME 53,655 406,541 460,196
Transfers between funds 99,413 (99,413 ) -
Net movement in funds 153,068 307,128 460,196

RECONCILIATION OF FUNDS
Total funds brought forward 937,441 796,749 1,734,190

TOTAL FUNDS CARRIED FORWARD 1,090,509 1,103,877 2,194,386


AWEL AMAN TAWE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

12. TANGIBLE FIXED ASSETS
Freehold Solar Plant and
property panels machinery
£    £    £   
COST
At 1 January 2023 1,791,266 1,132,139 106,688
Additions 600,159 - 3,861
Disposals - - (8,953 )
At 31 December 2023 2,391,425 1,132,139 101,596
DEPRECIATION
At 1 January 2023 39,234 138,725 15,300
Charge for year 2,491 56,607 5,623
Eliminated on disposal - - (8,953 )
At 31 December 2023 41,725 195,332 11,970
NET BOOK VALUE
At 31 December 2023 2,349,700 936,807 89,626
At 31 December 2022 1,752,032 993,414 91,388

Office Motor
Equipment vehicles Totals
£    £    £   
COST
At 1 January 2023 27,981 80,328 3,138,402
Additions 3,243 - 607,263
Disposals (92 ) - (9,045 )
At 31 December 2023 31,132 80,328 3,736,620
DEPRECIATION
At 1 January 2023 26,269 27,865 247,393
Charge for year 801 20,082 85,604
Eliminated on disposal (92 ) - (9,045 )
At 31 December 2023 26,978 47,947 323,952
NET BOOK VALUE
At 31 December 2023 4,154 32,381 3,412,668
At 31 December 2022 1,712 52,463 2,891,009

13. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
MARKET VALUE
At 1 January 2023 12,082
Disposals (10,081 )
At 31 December 2023 2,001
NET BOOK VALUE
At 31 December 2023 2,001
At 31 December 2022 12,082

AWEL AMAN TAWE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

13. FIXED ASSET INVESTMENTS - continued

There were no investment assets outside the UK.

Fixed Asset investments include £1 of share capital in Awel Limited (a Co-operative and Community Benefit Society) and £2,000 of share capital in Trydani (a Co-operative and Community Benefit Society).

£10.1k of shares were repaid to Awel Aman Tawe in the year at nominal value from Egni (a Co-operative and Community Benefit Society).

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 16,823 21,885
Amounts owed by related parties 67,095 383,684
Other debtors 177,531 78,522
VAT - 9,983
Prepayments and accrued income 79,656 35,394
341,105 529,468

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans (see note 17) 84,985 78,051
Trade creditors 48,179 28,646
Amounts owed to related parties 34,870 -
Social security and other taxes 2,946 2,408
VAT 5,861 -
Other creditors 3,942 3,930
Accruals and deferred income 93,917 75,699
274,700 188,734

16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other loans (see note 17) 1,349,412 1,227,949

17. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year on demand:
Other loans 84,985 78,051
Amounts falling between one and two years:
Other loans - 1-2 years 85,717 80,905
Amounts falling due between two and five years:
Other loans - 2-5 years 245,022 233,825
Amounts falling due in more than five years:

Repayable by instalments:
Other loans more than 5yrs 1,018,673 913,219

AWEL AMAN TAWE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

17. LOANS - continued


Egni had previously provided loans to pay for the purchase and installation costs of solar panels (PV) and the purchase and installation of a Ground Source Heat Pump (GSHP) on behalf of AAT.

Amounts owed to Egni included within loans is as follows:
2023 2022

Solar Panel (PV) loan 948,236 1,005,824
Ground Source Heat pump (GSHP) loan 84,067 83,843


18. SECURED DEBTS

The following hold a charge against the freehold land and property of the charity

NPTCBC - dated Dec 2022
WCVA - dated Dec 2022 and Dec 2006
Big Lottery Fund - dated April 2022

19. MOVEMENT IN FUNDS
Net Transfers
movement between At
At 1.1.23 in funds funds 31.12.23
£    £    £    £   
Unrestricted funds
General charity reserves 254,909 (29,445 ) (57,291 ) 168,173
Designated Asset Fund - Capital 533,518 - 225,976 759,494
Designated Long Term Investments 12,082 - (10,081 ) 2,001
Hwb y Gors 290,000 - (158,604 ) 131,396
1,090,509 (29,445 ) - 1,061,064
Restricted funds
Third Sector Resilience Fund – Wales
Council for Voluntary Action (WCVA)

12,500

(12,500

)

-

-
We are Energy Warriors - 1,645 - 1,645
Garfield Weston Foundation 30,000 - (30,000 ) -
Restricted Hwb y Gors capital fund 1,051,491 (67,372 ) 234,658 1,218,777
Ein Milltir Sgwar - Defibrillator 1,679 (1,679 ) - -
Welsh Government Energy Service - Gwrhyd
Solar & Wind Project

8,207

(8,207

)

-

-
Younity - Powering Communities - 2,750 - 2,750
NPTCVS UK Shared Prosperity - 65,000 (65,000 ) -
Repair Cafe - 1,000 - 1,000
Tai Tarian - Garden Project - 500 - 500
NPTCBC Valleys & Villages - 185,000 (69,658 ) 115,342
National Lottery - Sensory Story of Energy - 7,233 - 7,233
National Lottery - Hwb y Gors - 60,000 (60,000 ) -
Coalfields Regeneration - 7,000 (7,000 ) -
Baily Thomas - 3,000 (3,000 ) -
1,103,877 243,370 - 1,347,247
TOTAL FUNDS 2,194,386 213,925 - 2,408,311

AWEL AMAN TAWE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

19. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General charity reserves 696,104 (725,549 ) (29,445 )

Restricted funds
Third Sector Resilience Fund – Wales
Council for Voluntary Action (WCVA)

-

(12,500

)

(12,500

)
We are Energy Warriors 16,449 (14,804 ) 1,645
Restricted Hwb y Gors capital fund - (67,372 ) (67,372 )
Ein Milltir Sgwar - Defibrillator - (1,679 ) (1,679 )
Bus Services Support Grant - Community
Transport (BSSG) NPT

7,652

(7,652

)

-
Welsh Government Energy Service - Gwrhyd
Solar & Wind Project

-

(8,207

)

(8,207

)
Younity - Powering Communities 3,750 (1,000 ) 2,750
NPTCVS UK Shared Prosperity 65,000 - 65,000
Repair Cafe 1,000 - 1,000
Tai Tarian - Garden Project 500 - 500
NPTCBC Valleys & Villages 185,000 - 185,000
SBUHB - RIF 3rd Sector 19,851 (19,851 ) -
National Lottery - Sensory Story of Energy 10,000 (2,767 ) 7,233
National Grid - Community Matters 4,150 (4,150 ) -
National Lottery - Hwb y Gors 60,000 - 60,000
Coalfields Regeneration 7,000 - 7,000
Baily Thomas 3,000 - 3,000
383,352 (139,982 ) 243,370
TOTAL FUNDS 1,079,456 (865,531 ) 213,925


AWEL AMAN TAWE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

19. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net Transfers
movement between At
At 1.1.22 in funds funds 31.12.22
£    £    £    £   
Unrestricted funds
General charity reserves 200,416 153,068 (98,575 ) 254,909
Designated Asset Fund - Capital 635,024 - (101,506 ) 533,518
Designated Long Term Investments 102,001 - (89,919 ) 12,082
Hwb y Gors - (99,413 ) 389,413 290,000
937,441 53,655 99,413 1,090,509
Restricted funds
People and Places - The National Lottery
Community Fund

88,757

100,000

(188,757

)

-
Transforming Towns, Neath Port Talbot
County Borough Council (NPTCBC)

98,891

-

(98,891

)

-
Arts Council of Wales 37,242 (37,242 ) - -
Margaret Davies Charity 5,000 - (5,000 ) -
Moondance Foundation 100,000 - (100,000 ) -
Welsh Government’s Landfill Disposal Tax
Communities Scheme – Wales Council for
Voluntary Action (WCVA)


-


49,600


(49,600


)


-
Western Valleys Community Transport
Scheme, Community Transport Association
- Welsh Government


93,116


80,000


(173,116


)


-
Third Sector Resilience Fund – Wales
Council for Voluntary Action (WCVA)

37,500

(25,000

)

-

12,500
Community Facilities Programme – Welsh
Government

-

50,000

(50,000

)

-
Garfield Weston Foundation 15,000 15,000 - 30,000
Awards for All - The National Lottery
Community Fund

10,000

(10,000

)

-

-
Restricted Hwb y Gors capital fund 311,243 20,000 720,248 1,051,491
Ein Milltir Sgwar - Defibrillator - 1,679 - 1,679
Bus Services Support Grant - Community
Transport (BSSG) NPT

-

6,297

(6,297

)

-
Heritage Lottery fund - Ein Militir Sgwar - 20,000 (20,000 ) -
Morel Trust fund - 3,000 (3,000 ) -
Clothworkers Foundation - Hwb y Gors - 100,000 (100,000 ) -
Ashley Family Foundation Fund - Hwb y
Gors

-

25,000

(25,000

)

-
Welsh Government Energy Service - Gwrhyd
Solar & Wind Project

-

8,207

-

8,207
796,749 406,541 (99,413 ) 1,103,877
TOTAL FUNDS 1,734,190 460,196 - 2,194,386

AWEL AMAN TAWE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

19. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£    £    £   
Unrestricted funds
General charity reserves 515,779 (362,711 ) 153,068
Hwb y Gors - (99,413 ) (99,413 )
515,779 (462,124 ) 53,655
Restricted funds
People and Places - The National Lottery
Community Fund

100,000

-

100,000
Arts Council of Wales - (37,242 ) (37,242 )
Welsh Government’s Landfill Disposal Tax
Communities Scheme – Wales Council for
Voluntary Action (WCVA)


49,600


-


49,600
Western Valleys Community Transport
Scheme, Community Transport Association
- Welsh Government


115,575


(35,575


)


80,000
Third Sector Resilience Fund – Wales
Council for Voluntary Action (WCVA)

50,000

(75,000

)

(25,000

)
WCVA- Kick start 9,834 (9,834 ) -
Community Facilities Programme – Welsh
Government

50,000

-

50,000
Garfield Weston Foundation 15,000 - 15,000
Awards for All - The National Lottery
Community Fund

-

(10,000

)

(10,000

)
Restricted Hwb y Gors capital fund 20,000 - 20,000
Transport - Learning Disabilites Fund 11,537 (11,537 ) -
Ein Milltir Sgwar - Defibrillator 1,679 - 1,679
Bus Services Support Grant - Community
Transport (BSSG) NPT

6,297

-

6,297
Heritage Lottery fund - Ein Militir Sgwar 59,400 (39,400 ) 20,000
NPTCVS UK Community Renewal Fund –
Third Sector Grants Scheme

4,616

(4,616

)

-
Morel Trust fund 3,000 - 3,000
Clothworkers Foundation - Hwb y Gors 100,000 - 100,000
Ashley Family Foundation Fund - Hwb y
Gors

25,000

-

25,000
Welsh Government Energy Service - Gwrhyd
Solar & Wind Project

25,000

(16,793

)

8,207
646,538 (239,997 ) 406,541
TOTAL FUNDS 1,162,317 (702,121 ) 460,196

Unrestricted & Designated Funds

Unrestricted General Charity Reserves as of 31st December 2023 are shown as £168,173.

Trustees agree to hold 6 months running costs for the charity - this is based on the unrestricted Annual Expenditure of £725,549 as shown in the accounts less Solar Panel revenue of £251,904.
'-+ 10% contingency.

The reserves target equates to £260,505

Free reserves relate to general reserves over and above the reserves target. As reserves target exceeds general reserves there are no free reserves as at 31st December 2023.


AWEL AMAN TAWE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

19. MOVEMENT IN FUNDS - continued

In 2022 the Trustees agreed to designate funds towards Hwb y Gors which aligns with the charity's objectives.

Designated capital funds carried forward represent monies received towards capital expenditure,

Designated investment funds represent amounts held by the Charity in investments at the year end.


Restricted Funds

Details of specific Restricted funds are noted below:

- Rural Development Programme (RDP) - Gwrhyd Solar - this is funding towards a Feasibility Study for a ground mounted solar scheme

- People and Places - The National Lottery Community Fund - this is funding towards the Hwb y Gors refurbishment project

- Transforming Towns, Neath Port Talbot County Borough Council (NPTCBC) - this is funding towards the Hwb y Gors refurbishment project

- Arts Council of Wales - this is funding towards various community arts projects, as well as towards the Hwb y Gors refurbishment project

- Margaret Davies Charity - this is funding towards the Hwb y Gors refurbishment project

- Moondance Foundation - this is funding towards the Hwb y Gors refurbishment project

- Welsh Government's Landfill Disposal Tax Communities Scheme - Wales Council for Voluntary Action (WCVA) - this is funding towards the Hwb y Gors refurbishment project

- Western Valleys Community Transport Scheme, Community Transport Association - Welsh Government - this is funding towards the Community transport scheme

- Third Sector Resilience Fund - Wales Council for Voluntary Action (WCVA) - this is funding towards additional staffing and capacity development

- Community Facilities Programme - Welsh Government - this is funding towards the Hwb y Gors refurbishment project

- Garfield Weston Foundation - this is funding towards the Hwb y Gors refurbishment project

- Awards for All - The National Lottery Community Fund - this is funding towards community arts projects, as well as towards the Hwb y Gors refurbishment project

- Welsh Government Energy Service - Gwrhyd Solar & Wind Project - this is funding towards a feasibility study for a ground mounted solar and wind scheme

-Transport, Learning Disabilities Fund: this is towards staff salaries and running costs for providing this community transport service

Ein Milltir Sqwar - Debrillitor: this will be located at Hwb y Gors for public use

Bus Services Support Grant (BSSG) NPT: to support community transport in NPT

Heritage Lottery Fund: funding towards heritage craft projects and lime render work at Hwb y Gors

NPTCVS Community Renewal Fund: funding towards craft projects at Hwb y Gors

Morel Trust: funding forward Hwb y Gors refurbishment

Clothworkers Foundation: funding forward Hwb y Gors refurbishment

AWEL AMAN TAWE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

19. MOVEMENT IN FUNDS - continued


Ashley Family Foundation: towards ceramics project and kitting out pottery studio at Hwb y Gors

Transfers between funds

Transfers between restricted funds
These transfers represent restricted funds that have been received and spent on the Hwb y Gors development.

The closing balance on the restricted fund of £1,218,777 represents all sources of capital funding the charity has received in respect of this development.

Transfers between restricted and unrestricted funds
These transfers represents the direct revenue spend on the Hwb y Gors development , together with management time in respect of this development, where the costs were reflected in general unrestricted funds.

20. RELATED PARTY DISCLOSURES

Awel y Gwrhyd (community wind farm)
Awel y Gwrhyd CIC is a 100% subsidiary of Awel Limited and both Awel Limited and Awel y Gwrhyd CIC are managed and administrated by Awel Aman Tawe.

Included within debtors is a balance of £11,431 (2022 £41,198) due from Awel y Gwrhyd CIC, this balance is made up of costs incurred by Awel Aman Tawe on behalf of Awel y Gwrhyd CIC due for recharge.

During the year Awel Aman Tawe received S106 Community Benefit and Common Land income from Awel y Gwrhyd CIC of £61,902 (2022 £56,071) and charged management and admin fees of £25,680 (2022 £24,000).

During the year, a donation of £150,000 was made to Awel Aman Tawe by Awel y Gwrhyd (2022 £100,000)

Awel Limited
Awel Aman Tawe holds share capital in Awel Limited (a cooperative and community benefit company) of £1 at the year end which represents <25% of the voting rights of Awel Limited.

Included within other debtors is a balance of £55,663 (2022: £38,041) due from Awel Ltd, this balance is made up of various loans and recharges due from Awel Ltd at the year end.

During the year Awel Aman Tawe provided management and administration services to Awel Limited totalling £25,680 (2022 £24,000).

Other related parties
As agreed by Trustees, during the year Emily Hinshelwood, co-founder of the Charity and partner of Dan McCallum (company secretary) provided consultancy services on a freelance basis totalling £9,337 (2022: £27,686) to manage the Hwb y Gors renovation and development project.

Trustees in Awel Aman Tawe held shares in Awel Ltd totalling £4,805 and total interest receivable thereon for 2023 was £241.

Trustees in Awel Aman Tawe held shares in Egni totalling £24,466 and total interest receivable thereon for 2023 was £328.

Staff of Awel Aman Tawe held shares in Awel Ltd totalling £477 and received interest of £33.

Staff in Awel Aman Tawe held shares in Egni totalling £15,270 and received interest of £492.


AWEL AMAN TAWE

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

21. EGNI CYDWEITHREDOL

Awel Aman Tawe (AAT) held no shares in Egni Co-op (a cooperative and community benefit company) at the year end.

Egni Co-op (Egni) repaid shares totalling £10,081 to AAT during the year to 31 December 2023.

There are no staff employed by Egni and all administration and management faculties are provided by Awel Aman Tawe (AAT). AAT and Egni are related parties based on similar directors/trusteeships.

During the year AAT charged Egni a management & administration charge of £56,514 (2022: £52,817), plus project/ consultancy charges of £nil (2022: £108,464).

These charges are a contribution towards AAT's costs of employing three solar development staff, the finance and administration team, and the Education Officer who works with schools that have Egni solar panels, and other schools as required.

Egni previously provided loans to pay for the purchase and installation costs of solar panels (PV) and the purchase and installation of a Ground Source Heat Pump (GSHP) on behalf of AAT.

Interest is charged on a variable rate on the PV loan and will mirror the amount of income less depreciation incurred by AAT in each period. The interest on the GSHP loan is charged at 6%.

The balance owed by AAT to Egni as at 31 December 2023 in relation to the PV loan was £948,236 (2022: £1,005,824). The balance owed by AAT to Egni as at 31 December 2023 in relation to the GSHP loan was £84,066 (2022: £83,843).

The reason for using both Egni and AAT for FiT preregistrations and for each organisation to then own panels was to maximise FiT income to the project and make the overall scheme more financially viable. In effect, our larger installs are more viable and enabled us to do smaller installs on primary schools and community buildings. This was permitted under Ofgem rules to support community energy - not for profit legal entities were allowed to share a grid connection and both were eligible for FiT. Since March 2021, when the FiT income ended, all installs have been funded and installed by Egni Co-op alone.

During the year, £251,904 was generated from Awel Aman Tawe's solar panels.

From time to time Egni and AAT will also pay bills on behalf of the other organisation. These amounts are typically balanced at year end and repaid in the following period. The balance of these items at year end was £1,014 owed by Egni to AAT.

There was a further balance owed by Egni to AAT at year end of £33,908, in relation to recharges (including VAT) issued in FY23 but not paid until FY24.

The total net amounts owed by AAT to Egni as at 31 December 2023 was £1,067,174 (2022: £786,197).