REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
31 MARCH 2024 |
FOR |
INTERLINK RCT |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED |
31 MARCH 2024 |
FOR |
INTERLINK RCT |
INTERLINK RCT |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Report of the Trustees | 1 | to | 9 |
Report of the Independent Auditors | 10 | to | 12 |
Statement of Financial Activities | 13 |
Balance Sheet | 14 |
Cash Flow Statement | 15 |
Notes to the Cash Flow Statement | 16 |
Notes to the Financial Statements | 17 | to | 27 |
INTERLINK RCT (REGISTERED NUMBER: 07549533) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2024 |
TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024 |
The trustees present their report along with the financial statements for the year ended 31 March 2024. This report has been prepared in accordance with the Section 419(2) of the Companies Act 2006. The financial statements have been prepared in accordance with the accounting policies on page 16 and comply with the Charity's constitution and applicable law. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Interlink RCT is a members-led charity focused on creating connected, resourceful and sustainable communities; where people develop trust, respect and understanding, have good health and can access the resources they need. By encouraging people and communities to recognise and work with the assets the community already has - such as its people, buildings and land - communities can act on what really matters. |
CONSTITUTION AND OBJECTS |
The original constitution of Interlink was adopted on 23 January 1997 amended by special resolution on 26 March 1998 and further amended at a special General Meeting on 20 September 2001 and is a registered charity. The objects of the Charity are the promotion of any charitable purpose for the benefit of the community in the County Borough of Rhondda Cynon Taf and surrounding area as defined in the Local Government (Wales) Act 1994. Following a special resolution at the Annual General Meeting on the 1st December 2010, the charity adopted new memorandum and articles and became incorporated as a Company Limited by Guarantee on the 2nd March 2011. The new charity was registered with the Charity Commission on the 4th April 2011. |
Interlink RCT's updated charitable objectives were approved at the AGM in November 2022 after being pre-approved by the Charity Commission. Interlink RCT's charity objects were changed from, |
'The objects for which the Charity is established are to promote any charitable purpose for the benefit of the community in the County Borough of Rhondda Cynon Taff, as defined in the Local Government (Wales) Act 1994, and surrounding areas (hereinafter referred to as 'the area of benefit').' |
to, |
'The charity objects are specifically restricted to the following: |
(1) To promote any charitable purposes for the benefit of the public, for the benefit of the community in the County Borough of Rhondda Cynon Taff, as defined in the Local Government (Wales) Act 1994, and surrounding areas (hereinafter referred to as 'the area of benefit'), and in particular but not exclusively, build the capacity of third sector organisations and provide them with the necessary support, information and services to enable them to pursue or contribute to any such charitable purpose. |
(2) To promote, organise and facilitate co-operation and partnership working between third sector, statutory and other relevant bodies in the achievement of the above purposes within the area of benefit, and to that end to bring together into membership of the Charity persons and organisations engaged in the furtherance of the said purposes within the area of benefit.' |
TRUSTEES |
The trustees in office during the period and at the date of this report are set out on page 8. Trustees are elected for a term of three years at the Annual General Meeting by the membership and are required to sign a declaration of their eligibility to serve. Trustees have taken responsibility for monitoring the Charity's activities through the Executive Committee. |
The constitution was amended to move toward non-member trustees to serve for three years with the same voting rights as member trustees to replace coopted trustees that served for a one-year term. Non-member Directors will be appointed in the same way as member Directors and under the same terms and voting rights as member Directors. The number of non-member directors shall be not more than three, including non- member Directors. The Trustee Handbook was amended to reflect these changes and to state only one Officer's role can be filled by a non-member trustee at any one time. |
INTERLINK RCT (REGISTERED NUMBER: 07549533) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2024 |
Induction and Training Procedures |
All trustees are offered training in respect of trustee roles and responsibilities and are required to attend an induction session with another trustee after the annual meeting as part of trustee mentoring using a buddy system. Trustees are offered a range of opportunities throughout the year to develop their knowledge and skills to effectively fulfil their role and a skills audit used to assess and address gaps. |
RISK REVIEW |
The Trustees have conducted their own review of the major risks to which the charity is exposed, and systems including a risk register established to mitigate those risks. Internal risks are minimised by effective management of the Charity's activities and the implementation of budgetary and financial procedures, which are subject to at least annual review to ensure that they still meet the needs of the Charity. This was another challenging year with the cost-of-living crisis following the Covid 19 pandemic. Interlink RCT trustees had to continue to address the challenges it and its members face while still trying to deliver planned services to support local people and communities. Despite the investments not increasing in value, healthy Charity reserves provide scope to trustees to invest in priority areas in 2024/25. |
Interlink's main areas of work continue to focus on: |
- Community Advice and Support - providing information, advice, training and funding to support volunteers and community and voluntary organisations. |
- Volunteering - supporting volunteers and volunteer organisations. |
-Wellbeing - finding out what matters to individuals and communities, and working in partnership to provide information, advice and support. |
- Involving people and communities - supporting people, volunteers, and community and voluntary organisations to be listened to and involved, to take action and to influence those things that matter to them. |
Interlink, as a County Voluntary Council is a member of Third Sector Support Wales who provide a universal service across Wales based on supporting the following four pillars: |
- Volunteering |
- Good Governance |
- Thriving and Sustainable Third Sector |
- Influencing and Strategic Engagement |
OUR VISION |
We believe that volunteering and community action will lead to connected, resourceful and sustainable communities, where people are treated fairly, have good health and have the resources they need. We believe in supporting communities to be connected, resourceful and sustainable. |
Connected |
Communities have a greater impact when volunteers, informal and formal community and voluntary organisations and partners are connected and work together towards shared goals. |
Resourceful |
When communities have the power and resources to lead, they quickly find ways to work together using what they have to overcome difficulties, seek new opportunities and take action. |
Sustainable |
Sustainable communities develop where everyone has the opportunity to be involved, connected and valued for the contribution they make to the wellbeing of their community. |
OUR MISSION |
To work with others to understand and build on the strengths of local people and communities to address what matters. |
OUR VALUES AND PRINCIPLES |
- We value the work of all volunteers, informal and formal community groups and voluntary organisations. |
- We promote equality, diversity, inclusion and social justice including the Welsh language and culture. |
INTERLINK RCT (REGISTERED NUMBER: 07549533) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2024 |
- We act sustainability by taking into account the environmental, economic and social issues experienced by local people and communities. |
PUBLIC BENEFIT |
The trustees confirm they have complied with their duty in section 17(5) of the Charities Act 2011 to have due regard for public benefit. The objects for which the Charity is established are to promote any charitable purpose for the benefit of the community in the County Borough of Rhondda Cynon Taf and surrounding area. The achievements of the Charity in meeting these objects between 1st April 2023 to 31st March 2024 have been summarised in this report. Interlink increased its membership from 537 to 641 in this period. The focus of public benefit during the year was supporting community and voluntary organisations, promoting volunteering, and supporting improvements in mental health and wellbeing. |
ACHIEVEMENTS AND PERFORMANCE APRIL 2023 TO MARCH 2024 |
SUPPORTING COMMUNITY AND VOLUNTARY GROUPS - OUR MEMBERS |
The Community Advice Team had a busy year supporting volunteering and, community and voluntary groups across Rhondda Cynon Taf. The Team gets each group the support and advice they need with the peer support programme. Interlink pays for peer-to-peer advice between community and voluntary organisations with the payment going to the host organisation of the person providing the peer support, investing in and providing support to our members through our members. |
The Team dealt with 543 requests with a focus on funding as groups looked to access to grants so that groups could respond rapidly as more people required support due to the increase in the cost of living. Interlink RCT received funding from the Graig Fatha community benefit fund from the turbines operated by Ripple Energy providing small grants to community and voluntary groups to tackle climate change and help with the health and wellbeing and the cost of living, for example, to provide warm places and food through food banks and food pantries to local communities. |
Grant Funding |
Interlink RCT supported over 200 groups raise over £1,959,972 in grants to support local community groups and activities and help people with the cost of living. Key funders for our work to support local community and voluntary groups include Welsh Government, RCTCBC and Pen Y Cymoedd Community Wind Farm CIC and Ripple Energy (Graig Fatha Windfarm). |
The Team worked closely with RCTCBC to deliver Shared Prosperity Fund on-line webinars to raise awareness of the opportunity for local groups to access these UK Levelling Up Funds to replace the former EU funding. We also appreciate the vital funding to groups from important funders such as The Moondance Foundation, the Big Lottery and Coalfields Regeneration Trust. |
Our internal grants programme administered £200,660 on behalf of: |
- Ripple Energy (Graig Fatha Windfarm) |
- Taf Ely Windfarm |
- Sydney Albert Fund |
- Graig and Penycoedcae Grant Scheme |
- WCVA Youth Led Grant Scheme. |
This resulted in supporting an incredible community response to people of all ages and abilities throughout RCT to respond to the cost-of-living crisis, improve health and wellbeing and contribute to reducing the impact of climate change. |
Connect RCT |
Connect RCT was launched in 2021 and has continued to grow and develop, adding advertising volunteer opportunities. At the end of 2024, with numbers growing month by month, 221 new members had been added with 225 live activities and 85 volunteering opportunities. |
Training, Networks and Events |
Interlink held 52 sessions, engaging 1186 participants, consisting of: |
INTERLINK RCT (REGISTERED NUMBER: 07549533) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2024 |
- Events such as our Voluntary Sector Conference and AGM 'Investing in Our Members' and 'Youth Work' was attended by over 80 people with members telling us to focus on funding, networking, relationships, safe lace and support for young people and climate change. |
- Training such as '7 Ways to Fundraise', Safeguarding and Managing Risk. |
- Networks such as the Children, Young People and Families Network |
- On-line events such as three sessions with RCTCBC / RCT Together to support groups applying for grants from the Shared Prosperity Fund. |
Climate Change and energy Efficiency |
Interlink carried out a range of work linked to sustainability and climate change including supporting the development of and events with the hugely successful RCT Climate Action Network. A successful partnership with Pen Y Cymoedd Wind Farm CIC, Coalfields Regeneration Trust and RCTCBC provided free Energy Efficiency Audits and follow-up work and grants to community buildings to reduce their energy bills and carbon footprint. |
VOLUNTEERING |
Volunteers continued to provide a vast and diverse range of essential support in every community in RCT throughout the winter months as residents and groups faced rising heating bills and cost of food and other essential items. Through small grants, groups were able to cover their heating bills, volunteer expenses and purchase food, and able to open longer and more often to provide people with the support they needed. Other highlights included: |
- Launching the volunteer section on Connect RCT which allowed people to search for opportunities themselves with 85 volunteering opportunities registered. |
- Promoting our youth-led grant scheme with 7 organisations receiving a share of £6,000. |
- During Volunteers Week 2023 Interlink awarded 58 volunteers with certificates to say 'thank you' for their wonderful volunteering for 26 diverse groups. A film promoted the diversity of volunteering in RCT featuring Rhondda Foodbank, Turn Ponty Blue, Pentre Comrades Club, and Grow Rhondda. |
- Other highlights included a campaign to recruit volunteer befrienders with Age Connects Morgannwg and Welcome Friends; a social media campaign and webinar on promoting volunteer opportunities on Connect RCT; and Interlink staff volunteering to plant fruit and vegetable at Down to Zero. |
INTERLINK RCT (REGISTERED NUMBER: 07549533) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2024 |
ACHIEVEMENT AND PERFORMANCE |
HEALTH AND WELLBEING |
The Wellbeing Coordination Service provides support to people with poor health to address their non-medical needs through support and services provided by community and voluntary groups in their local community. This year, partnership working continued to develop with the Council's RCT Together Team resulting in a steady stream of referrals. |
The Wellbeing Team continued to map the borough, identifying new groups, and helping to promote and support. There were some challenges with recruitment, capacity and a huge increase in referrals particularly around fuel and food poverty. |
There were 2769 referrals into the service, with 1756 referrals out into community support. In total, the team provided 22 448 hours of support and made 4163 signposts to a diverse range of support provided by local groups. |
The Wellbeing Coordination Service continues to be funded via the Regional Integration Fund (RIF) at a level of £448 720. A Social Return on Investment (SROI) calculation was carries out and for every £1 invested in the project £4.48 of social value is created. |
Highlights include: |
- A referral pathway into the Team was developed with the North Cynon COPD Pilot project with Public Health Wales which demonstrated it was successful in helping those with COPD and other chronic lung conditions in identifying nonclinical means of support. |
- In collaboration with the GP Taff Cluster, funding was made available for a spot commission of befriending provision with Red Cross |
Befriending Services - funding activities continued to be supported via the Regional Integrated Fund (Regional Partnership Board) with £150,000 for 3 projects. Services provided vital links for people addressing the impact of loneliness and isolation, supporting people to connect to their communities. Three previously funded services were unable to continue due to rising costs with no increase in funding, highlighting issues of the lack of sufficient and secure funding for vital services being provided by community and voluntary organisations. |
HEALTH AND SOCIAL CARE |
Interlink's Deputy Chief Executive leads health, social care and wellbeing, facilitates a Health and Social Care Network, and works closely with RCTCBC Together and Cwm Taf University Health Board on a wide range of projects and partnerships. Highlights included: |
- Dementia Grant Scheme - this scheme took a regional focus with 3 organisations delivering a regional, collaborative service for people living with dementia and their Carers. A total of £150,000 was distributed to provide essential accessible services and activities for people with dementia and the people who care for them. |
- Amser Carers Trust Grant Scheme -11 projects were supported to provide short breaks to unpaid Carers across RCT and Merthyr. A total of £80 000 was distributed to projects providing a flexible range of support from overnight stays to day trips, cinema visits and vouchers to enable them to have a break from their caring role. |
- Green Outdoor Social Prescribing Network - continued to meet quarterly with a successful outdoor meeting where members highlighted their work in green social prescribing and benefitted from outdoor health activities. |
MENTAL HEALTH DEVELOPMENT AND INVOLVEMENT |
Interlink RCT have moved from two to one combined role of a Development and Involvement Officer role working with people with lived experience and groups in RCT and with colleagues in the CTM region. Interlink continued to support the Cwm Taf Morgannwg Mental Health Forum and work with CTM University Health Board on several projects to involve and gather the view of people who have used mental health services. |
EQUALITY, DIVERSITY AND INCLUSION |
Interlink appointed a member of staff as the Equality Diversity and Inclusion (EDI) Champion (2 hours/week) from May to November 2023 leading on the Cultural Competency Scheme. Interlink achieved a Silver Plus Award which included staff and trustee training. The success of the role led to Interlink investing in increased capacity to increase the hours and extend the role for the role for 2024/2025. |
INTERLINK RCT (REGISTERED NUMBER: 07549533) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2024 |
FINANCIAL REVIEW |
Principal Funding Sources |
Principal funding sources include Welsh Government, Cwm Taf Morgannwg University Health Board, the Cwm Taf Morgannwg Regional Partnership Board, Rhondda Cynon Taf County Borough Council and Pen y Cymoedd Wind Farm Community Fund CIC. |
Results |
Total incoming resources exceeded resources expended by £307,794. After transfers, the unrestricted funds reported a deficit of £26,657. The performance of the charity has exceeded expectations in such a difficult and uncertain economic climate. The level of available reserves, ie. the total unrestricted reserves less amounts invested in fixed assets and designated reserves amounted to £803,043. |
Reserves Policy |
The reserves policy is reviewed annually by the Executive Committee and the Financial and Resources Subgroup in line with Interlink's business and financial planning process. The trustees have examined the charity's requirements for reserves in light of the main risks of the organisation using a risk assessment process and taken action to reduce the major risks faced by the charity. The trustees have built up reserves equivalent to over six months operational costs, to cover, amongst other considerations, potential redundancy costs, as nearly all Interlink's income is approved on a 12-month basis and the charity needs to manage the risk of losing large contracts at short notice. |
The investment portfolio reduced during the last quarter of 2023/24 due to market turbulence and the trustees will take further advice on how to maximise our income while keeping within our low risk and strict ethical requirements. The Executive Committee has forecasted that because of the significant challenges faced by Interlink and its members, those reserves will be used in 2023-24 to: |
- Invest in our strategic objectives, maintain current staffing levels and increase capacity to deliver support to members to recover form Covid 19. |
- To reduce cash at bank and increase our investment portfolio. |
INTERLINK RCT (REGISTERED NUMBER: 07549533) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2024 |
FUTURE PLANS |
Strategic Objectives 2024-2027 |
Interlink RCT will work alongside our members, the community and voluntary sector (the Sector) to build their capacity to act on what matters to them and the volunteers and communities they support. We will work as an integrated team and use technology to support our members to: |
- Evidence and promote their involvement with and impact on the cost of living and community wellbeing. |
- Have the information and advice they need to access resources and financial support. |
- Share knowledge through networks and work together to identify and deliver partnership opportunities. |
To achieve this, we will: |
- Be an ethical, inclusive, and effective charity with a clear purpose. |
- Listen to and respond to what matters to our members. |
- Evaluate and learn from what we do. |
- Support community action on climate change. |
- We will focus on our purpose, supporting volunteers, community and voluntary groups - our 'Golden Thread'. |
- We will work as one organisation to deliver this 'Golden Thread'. |
- We will be clear on everyone's roles in delivering this 'Golden Thread.' |
- We will support our members to promote their impact. |
- We will support our members to connect with decision makers and funders. |
What we believe: |
- The real impact on people and communities is made by our members. |
- Our members are essential to improving community wellbeing and supporting people with the cost of living. |
- The better we deliver our 'Golden Thread' the more impact we will have. |
- We must involve, value and invest in our staff team and trustees to achieve our outcomes. |
What will help us to achieve our outcomes? |
- Our relationships and involvement of volunteers, our members and networks. |
- Our reach through digital platforms and on-line sources, such as Connect RCT and social media. |
- Our Wellbeing Coordination Team's ability to promote community wellbeing. |
- The commitment of our larger partners such as Welsh Government, Rhondda Cynon Taff County Borough Council and Cwm Taf Morgannwg University Health Board to work with our members. |
- Collecting, managing and using information and evidence as one organisation to inform what we do. |
This work contributes to our long-term outcome, |
'The community and voluntary sector are sustainably resourced and valued by the community, decision-makers, and funders, with the skills and capacity to evidence the difference they make to community wellbeing''. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
Interlink operates under rules defined by its governing documents, both as a charity, as defined by the Charities Act, 2011; and limited company limited by guarantee, as defined by the Companies Act 2006. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
Registered Charity number |
Registered office |
INTERLINK RCT (REGISTERED NUMBER: 07549533) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2024 |
Trustees |
Pauline Richards | Valleys Kids | Chair to Dec 2023 |
Janet Whiteman |
New Horizons Mental Health |
Vice Chair to Dec 2023, then Chair from Jan 2024 |
Richard Flowerdew | RCT Scouts | Treasurer to Dec 2023 |
Stephen Davis | Spectacle Theatre | Secretary from Dec 2023 |
Lisa Wills | Arts Factory | Treasurer from Jan 2024 |
Alison Theaker | Eye to Eye Counselling Service |
Richard Walters | Gilfach Goch Community Association |
Katy Thomas | Mothers Matter |
Richard Cox | Ategi |
Dilys Jouvenat |
Non-member Trustee (formerly co-opted) |
Tony Hendrickson |
Non-member Trustee (formerly co-opted) |
Auditors |
Ground Floor Cardigan House |
Castle Court |
Swansea Enterprise Park |
Swansea |
SA7 9LA |
Bankers |
HSBC Bank Plc |
10 Portland Street |
SWANSEA |
SA1 3DF |
STATEMENT OF TRUSTEES' RESPONSIBILITIES |
The trustees (who are also the directors of Interlink RCT 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. |
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. |
INTERLINK RCT (REGISTERED NUMBER: 07549533) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2024 |
STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued |
Company and charitable law require the Executive Board to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing those financial statements, the management committee should follow best practice and: |
- select suitable accounting policies and then apply them consistently; |
- make judgements and estimates that are reasonable and prudent; and |
- prepare financial statements on the going concern basis unless it is inappropriate to assume that the charitable company will continue on that basis. |
The Executive Board is responsible for maintaining proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ascertain to ensure that the financial statements comply with the Companies Act 2006. The Management Committee is 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. |
Members of the Executive Board |
Members of the Executive Board, who are directors for the purpose of company law and trustees for the purpose of charity law, who served during the year and up to the date of this report are set out on page 1. |
In accordance with company law, as the company's directors, we certify that: |
-so far as we are aware, there is no relevant audit information of which the company's auditors are unaware; and |
as the directors of the company, we have taken all the necessary steps in order to make ourselves aware of any relevant audit information and to establish that the charity's auditors are aware of that information. |
Approved by order of the board of trustees on |
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF |
INTERLINK RCT |
Opinion |
We have audited the financial statements of Interlink RCT (the 'charitable company') for the year ended 31 March 2024 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 March 2024 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 |
INTERLINK RCT |
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 |
- | enquiring of management, including obtaining and reviewing support documentation, concerning the company's policies and procedures relating to: |
- | 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; |
- | 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 company 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 company, The key laws and regulations we considered in this context included the UK Companies Act and relevant tax legislation. |
Audit response to the 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 and reviewing correspondence with HMRC; |
- | n 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 business rationale of any significant transactions that are unusual or outside the normal course of business. |
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 |
INTERLINK RCT |
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. |
for and on behalf of |
Castle Court |
Swansea Enterprise Park |
Swansea |
SA7 9LA |
INTERLINK RCT |
STATEMENT OF FINANCIAL ACTIVITIES |
FOR THE YEAR ENDED 31 MARCH 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Charitable activities | 4 |
Other trading activities | 2 |
Investment income | 3 |
Other income |
Total |
EXPENDITURE ON |
Raising funds | 5 |
Charitable activities | 6 |
Total |
Net gains/(losses) on investments | ( |
) |
NET INCOME/(EXPENDITURE) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 1,195,104 |
INTERLINK RCT (REGISTERED NUMBER: 07549533) |
BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 12 |
Investments | 13 |
CURRENT ASSETS |
Debtors | 14 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 15 | ( |
) | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 17 |
Unrestricted funds | 1,020,989 |
Restricted funds | 174,115 |
TOTAL FUNDS | 1,195,104 |
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 |
INTERLINK RCT |
CASH FLOW STATEMENT |
FOR THE YEAR ENDED 31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | 235,084 | (16,931 | ) |
Net cash provided by/(used in) operating activities | 235,084 | (16,931 | ) |
Cash flows from investing activities |
Purchase of fixed asset investments | (80,463 | ) | (31,810 | ) |
Sale of fixed asset investments | 68,431 | 29,332 |
Interest received | 17,504 | 3,418 |
Dividends received | 8,322 | 6,008 |
Net cash provided by investing activities | 13,794 | 6,948 |
Change in cash and cash equivalents in the reporting period |
248,878 |
(9,983 |
) |
Cash and cash equivalents at the beginning of the reporting period |
805,080 |
815,063 |
Cash and cash equivalents at the end of the reporting period |
1,053,958 |
805,080 |
INTERLINK RCT |
NOTES TO THE CASH FLOW STATEMENT |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES |
2024 | 2023 |
£ | £ |
Net income/(expenditure) for the reporting period (as per the Statement of Financial Activities) |
371,295 |
(41,652 |
) |
Adjustments for: |
Depreciation charges | 1,426 | 1,425 |
(Gain)/losses on investments | (38,534 | ) | 24,731 |
Interest received | (17,504 | ) | (3,418 | ) |
Dividends received | (8,322 | ) | (6,008 | ) |
(Increase)/decrease in debtors | (66,568 | ) | 55,081 |
Decrease in creditors | (6,709 | ) | (47,090 | ) |
Net cash provided by/(used in) operations | 235,084 | (16,931 | ) |
2. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1.4.23 | Cash flow | At 31.3.24 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 805,080 | 248,878 | 1,053,958 |
805,080 | 248,878 | 1,053,958 |
Total | 805,080 | 248,878 | 1,053,958 |
INTERLINK RCT |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
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 cost related to the 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 and apportionment of costs |
Costs are allocated against grants they relate to. Where restricted funds have outstanding amounts which relate to core expenditure, these are transferred to core. |
Tangible fixed assets |
Fixed assets are stated at cost less accumulated depreciation. The costs of minor additions costing below £1,000 are not capitalied. |
Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life as follows: |
Leasehold property | Straight line over length of lease |
Fixtures, fittings and equipment | 25% Straight line |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
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. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
Pension costs and other post-retirement benefits |
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. |
Debtors |
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. |
Cash at bank and in hand |
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. |
INTERLINK RCT |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | ACCOUNTING POLICIES - continued |
Creditors and provisions |
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. |
Donated services |
In accordance with the charities SORP (FRS 102), the general volunteer time provided to the charitable company is not recognised and refer to the trustees' report for more information about their contribution. |
Costs of raising funds |
The costs of raising funds consist of investment management costs and certain legal fees. |
Expenditure on charitable activities |
Expenditure on charitable activities include grants made, governance and support costs. |
Realised gains and losses |
All gains and losses are taken to the statement of financial activities as they arise. Realised gains and losses on investment are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and the carrying value. Realised and unrealised investment gains and losses are combined in the statement of financial activities. |
Leasing |
Rentals applicable to operating leases are charged to the statement of financial activities over the period in which the cost is incurred. |
Allocation of support costs |
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the activities of the charity. These costs have been allocated between cost of raising funds and expenditure on charitable activates. |
Pension |
The charity operates a defined contribution pension scheme for employees. The asset of the scheme are held separately from those of the charity. The annual contributions payable are charged to the statements of financial activities. |
2. | OTHER TRADING ACTIVITIES |
2024 | 2023 |
£ | £ |
Consultancy and training | 2,500 | 7,800 |
3. | INVESTMENT INCOME |
2024 | 2023 |
£ | £ |
Other fixed asset invest - FII | 8,322 | 6,008 |
Deposit account interest |
Interest on cash deposits | 244 | 389 |
INTERLINK RCT |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
4. | INCOME FROM CHARITABLE ACTIVITIES |
2024 | 2023 |
Activity | £ | £ |
Grants | Grants and contracts | 1,480,026 | 1,123,042 |
Grants received, included in the above, are as follows: |
2024 | 2023 |
£ | £ |
WG (WCVA) TSSW Grant | 248,252 | 259,176 |
WG (WCVA) Youth-led Grant Scheme | 6,650 | 6,650 |
RCT County Borough Council | 71,900 | 71,900 |
CTMUHB (BSB / Core) | 21,458 | 21,141 |
Grants Administered for other Organisations | 90,500 | 5,500 |
Building Communities Trust Penywaun | 102,454 | 15,750 |
WG Healthy and Active Fund | - | 90,359 |
RIF Wellbeing Coordination Service | 574,443 | 580,266 |
Penycymoedd Community Wind Farm CIC | 48,416 | 1,979 |
Cwm Taf Public Service Board | 23,803 | 12,000 |
Ripple Energy Community Benefit Fund | 287,150 | 58,321 |
Institute of Leadership | 5,000 | - |
1,480,026 | 1,123,042 |
5. | RAISING FUNDS |
Investment management costs |
2024 | 2023 |
£ | £ |
Portfolio management | 4,177 | 3,893 |
6. | CHARITABLE ACTIVITIES COSTS |
Support |
Direct | costs (see |
Costs | note 7) | Totals |
£ | £ | £ |
Charitable activities | 1,172,308 | 9,175 | 1,181,483 |
7. | SUPPORT COSTS |
Support |
costs |
£ |
Charitable activities | 9,175 |
8. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2024 | 2023 |
£ | £ |
Auditors' remuneration | 9,175 | 7,279 |
Depreciation - owned assets |
INTERLINK RCT |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
9. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. |
10. | STAFF COSTS |
2024 | 2023 |
Gross wages and salaries | £628,367 | £683,055 |
Social security costs | £62,917 | £70,121 |
Pension costs | £50,797 | £54,522 |
£742,081 | £807,698 |
The average monthly number of employees during the year was as follows: |
2024 | 2023 |
Employee |
Management team of the charity are made up of the Chief Executive Officer, Deputy Chief Executive Officer, Business and Finance Manager, Community Advice team manager and Wellbeing Services Manager totalling £211,947. |
There were no volunteers during the year. |
11. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Charitable activities |
Other trading activities |
Investment income |
Other income |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Total |
Net gains/(losses) on investments | ( |
) | ( |
) |
INTERLINK RCT |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
11. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) |
Transfers between funds | 95,978 | (95,978 | ) | - |
Net movement in funds | ( |
) | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 1,032,729 | 204,027 |
TOTAL FUNDS CARRIED FORWARD | 1,020,989 | 174,115 | 1,195,104 |
12. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1 April 2023 and 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
13. | FIXED ASSET INVESTMENTS |
Listed |
investments |
£ |
MARKET VALUE |
At 1 April 2023 |
Additions |
Disposals | ( |
) |
Revaluations |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 | 418,718 |
At 31 March 2023 | 368,152 |
There were no investment assets outside the UK. |
INTERLINK RCT |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
13. | FIXED ASSET INVESTMENTS - continued |
Cost or valuation at 31 March 2024 is represented by: |
Listed |
investments |
£ |
Valuation in 2021 | 16,953 |
Valuation in 2023 | (22,253 | ) |
Valuation in 2024 | 50,566 |
Cost | 373,452 |
418,718 |
Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year. |
The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub-sectors. |
14. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Other debtors |
Prepayments and accrued income |
15. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade creditors |
Social security and other taxes |
Other creditors |
Accrued expenses |
16. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
INTERLINK RCT |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
17. | MOVEMENT IN FUNDS |
Net |
movement | At |
At 1.4.23 | in funds | 31.3.24 |
£ | £ | £ |
Unrestricted funds |
Core | 1,020,989 | 26,531 | 1,047,520 |
Restricted funds |
CTMUHB (Building Strong Bridges/Core) | - | 10,449 | 10,449 |
Grants Administered for other organisations | 5,548 | 1,760 | 7,308 |
Building Communities Trust Penywaun | 79,246 | (8,590 | ) | 70,656 |
Graig and Penycoedcae Community Fund | 10,515 | (10,443 | ) | 72 |
ICF Grants | 20,005 | - | 20,005 |
RIF Wellbeing Coordination Service | 33,094 | 104,673 | 137,767 |
Mental Health Digital Inclusion Grant | 13,707 | (1,973 | ) | 11,734 |
Mental Health | - | 45,067 | 45,067 |
Cwm Taf Public Service Board (Climate Action) |
12,000 |
23,803 |
35,803 |
Ripple Energy Community Benefit Fund | - | 169,018 | 169,018 |
Amser Carers Trust Grant | - | 6,000 | 6,000 |
Institute of Leadership | - | 5,000 | 5,000 |
344,764 |
TOTAL FUNDS | 371,295 | 1,566,399 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Gains and | Movement |
resources | expended | losses | in funds |
£ | £ | £ | £ |
Unrestricted funds |
Core | 435,072 | (447,075 | ) | 38,534 | 26,531 |
Restricted funds |
CTMUHB (Building Strong Bridges/Core) | 38,136 | (27,687 | ) | - | 10,449 |
Grants Administered for other organisations | 2,500 | (740 | ) | - | 1,760 |
Building Communities Trust Penywaun | 102,454 | (111,044 | ) | - | (8,590 | ) |
Graig and Penycoedcae Community Fund | - | (10,443 | ) | - | (10,443 | ) |
RIF Wellbeing Coordination Service | 448,720 | (344,047 | ) | - | 104,673 |
Mental Health Digital Inclusion Grant | - | (1,973 | ) | - | (1,973 | ) |
Mental Health | 87,586 | (42,519 | ) | - | 45,067 |
Cwm Taf Public Service Board (Climate Action) |
23,803 |
- |
- |
23,803 |
Ripple Energy Community Benefit Fund | 287,150 | (118,132 | ) | - | 169,018 |
Amser Carers Trust Grant | 88,000 | (82,000 | ) | - | 6,000 |
Institute of Leadership | 5,000 | - | - | 5,000 |
( |
) | 344,764 |
TOTAL FUNDS | ( |
) | 371,295 |
INTERLINK RCT |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
17. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net | Transfers |
movement | between | At |
At 1.4.22 | in funds | funds | 31.3.23 |
£ | £ | £ | £ |
Unrestricted funds |
Core | 1,032,729 | (107,718 | ) | 95,978 | 1,020,989 |
Restricted funds |
CTMUHB (Building Strong Bridges/Core) | - | 9,372 | (9,372 | ) | - |
Grants Administered for other organisations | 4,979 | 569 | - | 5,548 |
Building Communities Trust Penywaun | 116,508 | (32,999 | ) | (4,263 | ) | 79,246 |
Penycymoedd Community Windfarm Fund CIC |
- |
365 |
(365 |
) |
- |
Graig and Penycoedcae Community Fund | 10,515 | - | - | 10,515 |
Sports Wales Healthy and Action Fund | 1,680 | 5,649 | (7,329 | ) | - |
ICF Grants | 20,005 | - | - | 20,005 |
RIF Wellbeing Coordination Service | 15,641 | 69,192 | (51,739 | ) | 33,094 |
Mental Health Digital Inclusion Grant | 16,134 | (2,427 | ) | - | 13,707 |
Mental Health | 9,439 | 10,746 | (20,185 | ) | - |
Mental Health Service User Grant | 6,264 | (6,662 | ) | 398 | - |
ICF Slippage | 2,862 | (2,573 | ) | (289 | ) | - |
Cwm Taf Public Service Board (Climate Action) |
- |
12,000 |
- |
12,000 |
Ripple Energy Community Benefit Fund | - | 2,834 | (2,834 | ) | - |
204,027 | 66,066 | (95,978 | ) | 174,115 |
TOTAL FUNDS | 1,236,756 | (41,652 | ) | - | 1,195,104 |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Gains and | Movement |
resources | expended | losses | in funds |
£ | £ | £ | £ |
Unrestricted funds |
Core | 379,005 | (461,992 | ) | (24,731 | ) | (107,718 | ) |
Restricted funds |
CTMUHB (Building Strong Bridges/Core) | 37,572 | (28,200 | ) | - | 9,372 |
Grants Administered for other organisations | 5,500 | (4,931 | ) | - | 569 |
Building Communities Trust Penywaun | 15,750 | (48,749 | ) | - | (32,999 | ) |
Penycymoedd Community Windfarm Fund CIC |
1,979 |
(1,614 |
) |
- |
365 |
Sports Wales Healthy and Action Fund | 90,359 | (84,710 | ) | - | 5,649 |
RIF Wellbeing Coordination Service | 448,720 | (379,528 | ) | - | 69,192 |
Mental Health Digital Inclusion Grant | - | (2,427 | ) | - | (2,427 | ) |
Mental Health | 93,974 | (83,228 | ) | - | 10,746 |
Mental Health Service User Grant | - | (6,662 | ) | - | (6,662 | ) |
ICF Slippage | - | (2,573 | ) | - | (2,573 | ) |
Cwm Taf Public Service Board (Climate Action) |
12,000 |
- |
- |
12,000 |
Ripple Energy Community Benefit Fund | 58,321 | (55,487 | ) | - | 2,834 |
764,175 | (698,109 | ) | - | 66,066 |
TOTAL FUNDS | 1,143,180 | (1,160,101 | ) | (24,731 | ) | (41,652 | ) |
INTERLINK RCT |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
17. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined position is as follows: |
Net | Transfers |
movement | between | At |
At 1.4.22 | in funds | funds | 31.3.24 |
£ | £ | £ | £ |
Unrestricted funds |
Core | 1,032,729 | (81,187 | ) | 95,978 | 1,047,520 |
Restricted funds |
CTMUHB (Building Strong Bridges/Core) | - | 19,821 | (9,372 | ) | 10,449 |
Grants Administered for other organisations | 4,979 | 2,329 | - | 7,308 |
Building Communities Trust Penywaun | 116,508 | (41,589 | ) | (4,263 | ) | 70,656 |
Penycymoedd Community Windfarm Fund CIC |
- |
365 |
(365 |
) |
- |
Graig and Penycoedcae Community Fund | 10,515 | (10,443 | ) | - | 72 |
Sports Wales Healthy and Action Fund | 1,680 | 5,649 | (7,329 | ) | - |
ICF Grants | 20,005 | - | - | 20,005 |
RIF Wellbeing Coordination Service | 15,641 | 173,865 | (51,739 | ) | 137,767 |
Mental Health Digital Inclusion Grant | 16,134 | (4,400 | ) | - | 11,734 |
Mental Health | 9,439 | 55,813 | (20,185 | ) | 45,067 |
Mental Health Service User Grant | 6,264 | (6,662 | ) | 398 | - |
ICF Slippage | 2,862 | (2,573 | ) | (289 | ) | - |
Cwm Taf Public Service Board (Climate Action) |
- |
35,803 |
- |
35,803 |
Ripple Energy Community Benefit Fund | - | 171,852 | (2,834 | ) | 169,018 |
Amser Carers Trust Grant | - | 6,000 | - | 6,000 |
Institute of Leadership | - | 5,000 | - | 5,000 |
204,027 | 410,830 | (95,978 | ) | 518,879 |
TOTAL FUNDS | 1,236,756 | 329,643 | - | 1,566,399 |
INTERLINK RCT |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
17. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Gains and | Movement |
resources | expended | losses | in funds |
£ | £ | £ | £ |
Unrestricted funds |
Core | 814,077 | (909,067 | ) | 13,803 | (81,187 | ) |
Restricted funds |
CTMUHB (Building Strong Bridges/Core) | 75,708 | (55,887 | ) | - | 19,821 |
Grants Administered for other organisations | 8,000 | (5,671 | ) | - | 2,329 |
Building Communities Trust Penywaun | 118,204 | (159,793 | ) | - | (41,589 | ) |
Penycymoedd Community Windfarm Fund CIC |
1,979 |
(1,614 |
) |
- |
365 |
Graig and Penycoedcae Community Fund | - | (10,443 | ) | - | (10,443 | ) |
Sports Wales Healthy and Action Fund | 90,359 | (84,710 | ) | - | 5,649 |
RIF Wellbeing Coordination Service | 897,440 | (723,575 | ) | - | 173,865 |
Mental Health Digital Inclusion Grant | - | (4,400 | ) | - | (4,400 | ) |
Mental Health | 181,560 | (125,747 | ) | - | 55,813 |
Mental Health Service User Grant | - | (6,662 | ) | - | (6,662 | ) |
ICF Slippage | - | (2,573 | ) | - | (2,573 | ) |
Cwm Taf Public Service Board (Climate Action) |
35,803 |
- |
- |
35,803 |
Ripple Energy Community Benefit Fund | 345,471 | (173,619 | ) | - | 171,852 |
Amser Carers Trust Grant | 88,000 | (82,000 | ) | - | 6,000 |
Institute of Leadership | 5,000 | - | - | 5,000 |
1,847,524 | (1,436,694 | ) | - | 410,830 |
TOTAL FUNDS | 2,661,601 | (2,345,761 | ) | 13,803 | 329,643 |
18. | RELATED PARTY DISCLOSURES |
Due to the nature of the organisation and its members and trustees being drawn from a wide range of local organisations, it is inevitable that transactions will take place with organisations in which a member / trustee of the organisation may have an interest. |
19. | RESTRICTED FUNDS |
Welsh Government - Third Sector Support Wales |
Interlink receives funding from Welsh Government through WCVA to provide support, advice and training to community and voluntary groups and promote volunteering. |
Cwm Taf Morgannwg University Health Board (CTMUHB) - Mental Health |
Interlink delivers a service level agreement to work with community and voluntary organisations, people with lived experience and statutory services to design, develop and integrate mental health services in the community. |
Cwm Taf Morgannwg University Health Board (CTMUHB) - Building Strong Bridges |
Along with a core development grant, this service level agreement with CTMUHB enables Interlink to involve and represent community and voluntary organisations in working in partnership with the Cwm Taf Morgannwg University Health Board, other statutory partners and strategic partnerships. It supports Interlink in its role to provide advice, information and networking opportunities to enable community and voluntary organisations to fully contribute to improving health, social care and wellbeing. |
Rhondda Cynon Taf County Borough Council (RCTCBC). |
Interlink delivers a service level agreement to support community and voluntary groups, promote volunteering and provide local services working alongside RCTCBC. |
INTERLINK RCT |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
19. | RESTRICTED FUNDS - continued |
Welsh Government Healthy and Active Fund - BeActive RCT |
Interlink works alongside local community and voluntary organisations to deliver a national action research programme to improve mental and physical wellbeing to support people to access local outdoor activities provided by and in the local community. |
Welsh Government Regional Investment Fund (RIF) |
The Fund enables Interlink to employ a team of Wellbeing Coordinators to work with GP's and other health and social care professionals in primary care to assist people to find support to address their social, emotional and or practical needs, working closely with community and voluntary groups and other partners. |
Welsh Government Youth-led Grant Scheme |
The 'VolFactor' is a youth-led grant scheme, funded annually through WCVA from Welsh Government, administered by Interlink. Applications were made to a Young People's Panel who award grants to youth- led projects to support young people's volunteering. |
Building Communities Trust Penywaun |
Interlink is the grant recipient body for the Penywaun Invest Local Group, employing a Community Development Officer to support the groups address local priorities. Invest Local is funded by the Big Lottery Fund and managed by Building Communities Trust (BCT). |
Penycymoedd Windfarm Community Fund CIC |
Interlink employed a Community Advice Coordinator to deliver advice and support to community voluntary organisations applying to the Penycymoedd Windfarm Community Fund in the area covered by the Fund in partnership with Neath Port Talbot CVS. |
Mental Health Digital Inclusion Grant |
Cwm Taf Morgannwg University Health Board provided funding for Interlink RCT to work with people with lived experience of mental health and mental health organisations to develop a website to promote and provide feedback on mental health services in Cwm Taf Morgannwg. |
Cwm Taf Public Service Board |
Interlink RCT received support from Cwm Taf Public Service Board to identify and promote those community and voluntary organisations supporting volunteers to take action on climate change. |
GRANTS ON BEHALF OF OTHER ORGANISATIONS |
Ventient Energy - Taff Ely Wind Farm Grants |
The Taff Ely Wind Farm Community Fund allows Interlink to provide small grants in the area of benefit of the wind farm operated by Ventient Energy Limited. |
The Graig and Penycoedcae Community Fund |
The Fund resulted from a one off payment to the local community related to the development of the Berthlwyd Solar Farm, Penycoedcae providing a local grant scheme administered by Interlink RCT. |
The Ripple Energy Community Benefit Fund |
Interlink manages a community benefit scheme from payments by Ripple Energy related to the Graig Fatha Wind Farm in Coedely by providing small grants to improve health and wellbeing, tackle climate change and help with the cost of living. |
Unrestricted Funds (Core) |
The unrestricted (core) funds are available to be spent or invested for any of the purposes of the charity. |