The trustees present their annual report and financial statements for the year ended 31 March 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the company's governing document, the Companies Act 2006 and "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).

Keep Wales Tidy exists to protect, preserve, and enhance the environment of Wales for the benefit of current and future generations. Our mission is supported by education, advocacy, and community action – helping people across Wales understand the importance of their natural environment and empowering them to take practical steps to protect it.

Our work is underpinned by our values:

• Passionate

• Together

• Bold

• Inspiring

• Responsible

We remain committed to our 2022–2030, strategy 'Beautiful Wales' (https://impact.keepwalestidy.cymru/beautiful-wales/), which sets out our long-term ambition to:

• Eradicate litter and waste

• Empower young people

• Create and restore green spaces

• Set standards for environmental excellence

Public Benefit

The Trustees confirm that they have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit. The work of Keep Wales Tidy contributes to improved community health and wellbeing, greater access to nature, biodiversity recovery, and reduced environmental degradation. Our work is open and inclusive, with targeted support for communities most in need.

A Year of Impact

2024/25 was another year of growth and impact for Keep Wales Tidy. Despite continued pressures on public funding, we expanded delivery, reached new communities, and scaled up our influence across policy and practice.

Highlights include:

• 652 new community gardens created through our Local Places for Nature programme

• 28,000+ volunteers supported across Wales

• 90%+ of schools engaged in the Eco-Schools programme, making Wales the first country to meet UNESCO’s Green Education Partnership target

• A record number of Green Flag Awards for community-run parks and open spaces

• AI-driven behavioural campaigns targeting roadside litter in urban areas

These achievements are set out in more detail in our full Impact Report that can be found here - https://impact.keepwalestidy.cymru/impact-report/impact-report-2024-2025.

Financial Health and Sustainability

We ended the year in a healthy financial position, delivering a modest surplus and maintaining strong cash flow and reserves. We remain mindful, however, of the wider financial climate. Our reliance on short-term, often project-specific government grants continues to pose a risk to long-term sustainability - particularly given ongoing pressures on public sector budgets in Wales.

We have taken proactive steps to address this challenge, including:

• Growing our unrestricted income through commercial activity and contract services

• Reviewing internal cost structures to improve efficiency

• Developing measurement of our impact and SROI

We are also playing our part in arguing for more realistic recognition of necessary overheads and multi-year programmes that are necessary for the long-term sustainability of the Third Sector.

Looking Ahead

Our priorities for the coming year include:

• Deepening our influence on litter, reuse and circular economy policy in Wales

• Driving forward commercial opportunities in line with our objectives

• Strengthening our core infrastructure, especially around data, digital, and impact measurement

• Continuing to build new partnerships across public, private and third sectors

We remain ambitious about our ability to deliver transformative environmental change, and confident in our ability to do so in a financially responsible and mission-driven way.

Conclusion

We are proud of the work undertaken by Keep Wales Tidy in 2024/25 - not only the scale of what was achieved, but the spirit in which it was done. In an increasingly complex operating environment, the organisation has shown agility, creativity, and resilience.

We extend our sincere thanks to our staff, volunteers, trustees, partners and funders - and look forward to building on these achievements in the year ahead.

Our total income of £6.49m was relatively well-diversified, though predominantly restricted to our key specific programmes such as Local Places for Nature, LEQ and Policy and Eco-Schools.

In addition to this Welsh Government funding, we were successful in securing significant other new grant funding during the year, including from the UK Government Shared Prosperity Fund which enabled us to work at a local level in some authorities across Wales.

In addition to contributions from the funding described above, we also secured income from trusts and foundations, including the Swire Charitable Trust (received in 23/24) and Garfield Weston Foundation which allowed us to work at a grass roots level with communities across Wales, and we saw a growth in our trading and contract services 94% of which was unrestricted income.

Our unrestricted funds increased by over £264,000 during the year and our total charitable activities income grew by over 40%. We increased our employee headcount to enable delivery of all of our key programmes.

The diversity in funding has helped build organisational resilience and provides greater flexibility for strategic investment in our future priorities. It is a strong and stable platform on which we can build in future years.

Key developments:

• A modest surplus was achieved

• We recorded a modest investment gain during the year, driven by the growth of the fund we invest with and the reinvestment of dividend income

• We continue to operate from a position of strength, with net assets growing and still exceeding £2 million at year end

Reserves Policy

Our policy remains to hold unrestricted reserves sufficient to cover at least three months’ core operating costs. As of 31 March 2025:

• The designated reserve for working capital stood at £750,000

• A further £300,000 is held as a strategic development reserve to invest in revenue-generating and diversification activity

The Audit and Risk Committee, supported by the Treasurer and a task and finish group, has been reviewing our reserves and investment policy to ensure it remains aligned with organisational needs and market conditions. A recommendation will be brought to the Board at the first meeting of the new financial year.

Governing document

• Keep Wales Tidy is incorporated as a private company limited by guarantee and governed by Articles of Association last amended by a special resolution of the Board of Trustees on 21st February 2024.

• From 1972 to 31 May 2000, the organisation operated as part of the Keep Britain Tidy Campaign. From 1 April 2000 to 23 September 2007, it operated under the name of Environmental Campaigns Cymru. A special resolution changed the name to Keep Wales Tidy on 24 September 2007.

Recruitment and appointment of new trustees

• The Articles of Association provide for between 3 and 14 Trustees, who are the Directors of the Company. Trustees serve for a maximum term of three years but may be appointed to serve two further terms of not more than three years each. Appointment is by election at the Annual General Meeting during September each year.

• Before inviting nominations, the Trustees review their skills to try to attract members with relevant experience and other skills to the Board. The Chair and Executive Officers are appointed by the Trustees from among their number. Each newly appointed Trustee completes a declaration of interest that is reviewed annually thereafter.

Induction and training of new trustees

• An induction pack is issued to new trustees which includes the Memorandum and Articles of Association, Charity Commission leaflet CC3 (The Essential Trustee), a detailed description of the Structure, Organisation and Staffing of the Company, and details of the Company's Professional Advisors.

Trustees are encouraged to attend relevant training courses to develop their skills and trustee training is provided by professional advisors.

Key management personnel

• The pay of key management personnel is reviewed annually alongside a general review of all staff salaries. Salaries are benchmarked against comparable size charities who operate in the region. Policies and the risk register are reviewed regularly and to a schedule.

Organisational structure

• The Board convenes at least four times each year and holds an additional strategic planning/training day. The Trustees have delegated management of the organisation to the Chief Executive, who reports on performance against Strategic and Operational initiatives approved by the Trustees.

• The Board oversees performance through a range of committees, including Audit, Policy, Remuneration, and Commercial. Trustees also participate in regular “deep dive” sessions into key areas of the charity’s work, helping to inform strategic direction and risk oversight.

• There are also several staff-led operational committees, that trustees are invited to attend and contribute. These include Keep Wales Tidy's Net Zero Group, EDI, Staff Consultation and Wellbeing Groups.

• The Chief Executive has responsibility for planning, developing, and implementing the services and strategies for Keep Wales Tidy within clear policies and protocols set by the Trustees. He ensures that the appropriate staff team is recruited and supported to provide the skills and expertise needed to run a successful organisation and that the values of Keep Wales Tidy are observed.

The Business Services Director, who is also the Company Secretary, has operational responsibility for Finance and Human Resources and reports via the Treasurer and Audit Committee on the financial position of the organisation. Management reports are prepared quarterly for the Board and the management team.

Risk Management

The Board maintains a comprehensive risk register, reviewed biannually. Key risks in the current period include:

• Post-2025 Funding Uncertainty: There is a lack of clarity around core funding beyond the current government grant cycle, posing a risk to long-term planning and sustainability.

• Transition to New Operating Model: The charity is changing how it delivers its work, placing greater reliance on third-party partners to deliver short-term projects that exceed internal staff capacity. There is a risk that the new model may not deliver the intended impact or efficiencies if it is not fully embedded, adequately resourced, or supported by delivery partners and internal teams.

• Income Diversification Challenge: The organisation is pursuing an ambitious strategy to grow unrestricted income through private and commercial sources. There is a risk that this approach may not generate sufficient revenue at the pace required to offset reductions in public funding.

Mitigations are in place for all identified risks, with regular oversight by the Audit and Risk Committee. Where appropriate, the charity also invests in internal systems, insurance, and expert advice to ensure risks are proportionately managed.

Reference and administrative details

Registered Company number

04011164 (England and Wales)

Registered Charity number

1082058

Registered office

Spark

Maindy Road

Cardiff

Wales CF24 4HQ

Trustees and Directors

Mr. Andrew Stumpf - Chair

Ms. Lesley Babb

Mr. Essex Havard

Ms. Gwenan Jenkins-Jones - resigned 28 May 2025

Mr. Mike Leeson

Ms. Rebekah Stone

Mr. Stephen Wiliams

Ms.Kay Zdzieblo

Ms Ceri Davies

Mr Lloyd Harris

Mr David King MBE

Ms Luisa Pastore

Ms Alana Wyn Smith

Company Secretary

Mrs. Philipa McGrath

Auditors

Azets Audit Services

Ty Derw, Lime Tree Court

Cardiff Gate Business Park

Cardiff

CF23 8AB

Bankers

Cooperative Bank Plc

PO Box 101

1 Balloon Street

Manchester

M60 4EP

Monmouthshire Building Society

John Frost Square
Newport
NP20 1PX

Nationwide

47/48 Regent Street

Swindon

SN1 1JS

Nat West

250 Bishopsgate

London

EC2M 4AA

Solicitors

Geldards LLP

4 Capital Quarter

Tyndall Street

Cardiff

CF10 4BZ

Investment Managers

Edentree Investment Management

24 Monument Street

London

EC3R 8AJ

Key Management Personnel: Senior Management Team

The trustees, who are also the directors of Keep Wales Tidy for the purpose of company law, are responsible for preparing the Trustees' Report 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 company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

- select suitable accounting policies and then apply them consistently;

- observe the methods and principles in the Charities SORP;

- make judgements and estimates that are reasonable and prudent; and

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in operation.

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the charity and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

In accordance with the company's articles, a resolution proposing that Azets Audit Services be reappointed as auditor of the company will be put at a General Meeting.

The trustees' report was approved by the Board of Trustees.

Opinion

We have audited the financial statements of Keep Wales Tidy (the ‘company’) for the year ended 31 March 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (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 2025 and of its incoming resources and application of resources, for the year then ended;

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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the 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.

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 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. 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 course of 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.

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

the information given in the financial statements is inconsistent in any material respect with the trustees' report; or

sufficient accounting records have not been kept; or

the financial statements are not in agreement with the accounting records; or

we have not received all the information and explanations we require for our audit.

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the company for the purpose 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 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.

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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 an auditor's report 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.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework.  Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion.  This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

• Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud; 

• Reviewing minutes of meetings of those charged with governance;

• Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the entity through enquiry and inspection; 

• Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations;

• Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias. 

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation.  This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.  The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's 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 charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Azets Audit Services is eligible for appointment as auditor of the company by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025, although an audit has been carried out under section 144 of the Charities Act 2011.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.

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

Keep Wales Tidy is a private company limited by guarantee incorporated in England and Wales. The registered office is Spark, Maindy Road, Cardiff, CF24 4HQ, Wales.

The financial statements have been prepared in accordance with the company's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The company is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below.

At the time of approving the financial statements, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Unrestricted funds are expendable at the discretion of the trustees in furtherance of the objects of the charity; the fund comprises the accumulated surpluses and deficits of unrestricted income and expenditure.

Designated funds are unrestricted funds of the charity which have been set aside to fund particular future activities of the charity.

Restricted funds are those where the donor has imposed restrictions on the use of the funds that are binding. Income arising on restricted funds and expenditure incurred in respect of these funds are reflected through the Statement of Financial Activities.

Funds are transferred from restricted to unrestricted when the initial restrictions no longer apply. If any restricted fund falls into deficit, transfers are made from unrestricted reserves to cover the additional expenditure.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Cash donations are recognised on receipt. Other donations are recognised once the company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

In the case of performance related grants, income must only be recognised to the extent that the charity has provided the specified goods or services as entitlement to the grant and only occurs when the performance related conditions are met. Capital grants are credited to the statement of financial activities as and when receivable and depreciation charged is offset against the grant income, in a restricted fund.

Earned income and project income is recognised when the service is provided.

Sponsorship income is recognised in the period to which the sponsorship takes place. Any amounts received in advance are deferred.

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

Dividend income is recognised in the period to which it relates.

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT which cannot be recovered. Certain expenditure is directly attributable to the specific activities and has been included in those cost categories. Certain other costs, which are attributable to more than one activity, are apportioned across cost categories on the basis of head count on each activity.

Governance costs

Governance costs include the external audit costs and costs associated with the board meetings of the company, including trustees' expenses.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Capital expenditure will be defined as:

• Any single piece of equipment, costing £2,500 or more (exc. VAT) that has an estimated economic / operational life of more than 3 years.

• Any fixtures and fittings costing £2,500 or more (exc. VAT) that have an estimated economic / operational life of more than 3 years.

Expenditure of a capital nature will be recorded on the KWT Asset Register.

If an item is purchased via grant funding and depreciation would preclude claiming the item, then the item will not be capitalised.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

At each reporting end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Cash and cash equivalents 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 are shown within borrowings in current liabilities.

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

As a registered charity, Keep Wales Tidy is entitled to the exemption from taxation in respect of income and capital gains received with sections 478-489 of the Corporation Tax Act 2010 and section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects purposes only.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Rentals payable under operating leases, including any lease incentives received, are charged as an expense on a straight line basis over the term of the relevant lease.

In the application of the company’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The 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 where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

There is nothing to report in this regard.

Sponsorship

Project income

Earned income

Single use carrier bag

Grants received

Sundry income

Charitable Expenditure

Charitable Expenditure

General project management

Publicity and promotion

Group support

Establishment costs

Meeting and conference

Training and other staff costs

Travel and subsistence

ICT costs

Legal and professional

General project management

Publicity and promotion

Establishment costs

Meeting and conference

Training and other staff costs

Travel and subsistence

Legal and professional

Irrecoverable VAT

ICT Costs

Governance costs includes payments to the auditors of £15,635 (2024: £14,320) for audit fees. Amounts totalling £1,000 (2024: £nil) were paid to the auditors in respect of non-audit services provided.

During the year 1 (2024: 2) trustee(s) were reimbursed a total of £59 (2023: £462) for travel and subsistence costs.

The average monthly number of employees during the year was:

Key management personnel

During the year the total remuneration (including gross salary, employer's national insurance contributions and employer's pension contributions) totalled £329,503 (2024: £317,305) for 4 employees (2024: 4 employees).

Contributions totaling £31,003 (2024: £17,380) were made to defined contribution pension schemes on behalf of employees whose emoluments exceed £60,000.

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

The designated working capital reserves fund has been set up to ensure the charity always has access to three months working capital.

A strategic business development fund has been put in place to enable the charity to develop and make the most of new opportunities.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

The company operates a defined contribution pension scheme with Scottish Widows. During the year contributions were made amounting to £324,056 (2024: £254,130). There were no amounts outstanding at the current or previous year end.

There were no related party transactions during the year (2024 - none) other than those disclosed elsewhere in the financial statements.

The company had no debt during the year.