REGISTERED COMPANY NUMBER: 03407991 (England and Wales)

REGISTERED CHARITY NUMBER: 1063949

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2025

FOR

DEWIS LIMITED

Page

Report of the Trustees

1

to

6

Report of the Independent Auditors

7

to

9

Statement of Financial Activities

10

Statement of Financial Position

11

Statement of Cash Flows

12

Notes to the Statement of Cash Flows

13

Notes to the Financial Statements

14

to

23

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Charitable Objects

"to carry on for the benefit of the community the business of providing housing and associated amenities for persons in necessitous circumstances upon terms appropriate to their means and providing for aged persons in need thereof housing and any associated amenities specially designed or adapted to meet the disabilities and requirements of such persons. In providing housing and associated amenities for persons in necessitous circumstances, the charity is able to rent properties to those in such circumstances."

VISION

Our vision is that we live in a society where youth homelessness is rare, temporary and exceptional. Where every young person has access to support and the resources to overcome homelessness and build a brighter future for themselves.

MISSION STATEMENT

Our mission statement is to alleviate homelessness by providing specialist support to young people, especially those with complex needs, who are homeless or at risk of being homeless, aiming to improve their current circumstances and build resilience for the future. We do this by offering flexible, quality supported housing services to meet individual needs. We create positive change and independence through coproduction with the young people who are the core of our delivery combined with responsive outcomes focussed support.

VALUES

o Respect, Promote and Encourage

o Include, Consult and Support

o Empower, Listen and Learn

Significant activities

Summarised below are the referrals and accommodation statistics during the

2024/2025

Supported Accommodation Scheme

No of Referrals Received

68

No of Referrals Accommodated

11

C/F Accommodated

6

Total No Accommodated

17

Crisis Support Scheme

No of Referrals Received

21

No of Referrals Accommodated

16

C/F Accommodated

2

Total No Accommodated

18

Rapid Support and Step Down Scheme

No of Referrals Received

11

No of Referrals Accommodated

7

C/F Accommodated

8

Total No Accommodated

15

Transition Support Scheme

No of Referrals Received

23

No of Referrals Accommodated

7

C/F Accommodated

5

Total No Accommodated

12

Bond Board Scheme

No of Referrals Received

128

No of Referrals Accommodated

10

C/F Accommodated

12

Total No Accommodated

22

TOTAL NUMBERS Organisation:

No of Referrals Received

251

No of Referrals Accommodated

51

C/F Accommodated

33

Total No Accommodated

84

Public benefit

When planning our activities for the year, we have considered the Charity Commission's guidance on public benefit, in particular, the focus of our activities continues to be providing supported accommodation and related services to young people aged 16 - 25. We also work closely with all our partners to address identified needs within the strategies of the Local Authority and Welsh Government.

FINANCIAL REVIEW

Principal funding sources

The principal funding sources for the charity aside from rental receipts from Housing Benefit payments are by way of grants and contract income mainly from Neath Port Talbot and Bridgend County Borough Councils and the Welsh Government.

Under the Memorandum and Articles of Association, the charity has the powers to invest any way the trustees wish. The Trustees, having regard to the liquidity requirements of operating the charity and to the reserves policy, have the intention of keeping any surplus funds available in interest bearing deposit accounts.

Reserves policy

The Board has set out the charity’s reserve policy to enable trustees to be in proper financial control of the organisation and meet its legal obligations. The reserve policy is a product of the charity's strategic planning, budgeting and risk management process. This policy is non static and will be reviewed on an annual basis by the Board of Trustees.

The Board has set the reserves policy based on the following:-

-Contingency planning-critical costs

-Reserves to meet the medium term strategic plan

-Reserves to match any capital spend

-Any remaining reserves represents the 'true free reserves' of the charity

On reviewing the reserves policy annually the Board will review the organisation's financial circumstances and operational environment and ensure that the level of reserves is monitored as part of the budget and financial reporting process.

ACHIEVEMENTS AND IMPACT DURING THE YEAR

During 2024-25 we received 251 referrals for accommodation. A total of 84 young people were accommodated across our services and supported to enable them to develop the independence skills and housing related support outcomes they need to move on into sustainable accommodation. We increased our footprint in Neath Port Talbot, expanding our number of units of accommodation across Neath Port Talbot and Bridgend to a total of 41 across both areas. We received ongoing Enhance support from Lloyds Foundation Grant to enable us to deliver our Strategic and Business Plan.

PROGRESS AGAINST OUR STRATEGIC PRIORITIES 2024/25

We successfully delivered our Business Plan Objectives under our three key strands: Building Strengths; Agility; Collaboration and Innovation across the year. We achieved our outcomes as detailed below:

1. Building Strengths

We benefitted from the Lloyds Foundation Grant Enhance Support to upskill our team in Trauma-Informed and Strengths-based training to underpin our work with young people. We focussed our work around consistent support and evidence-based outcomes. We engaged in network events to promote and celebrate our work with young people. We targeted our fundraising to strengthen our core and add value to our delivery offer to young people.

2. Agility

We engaged positively with those who commission our services to understand the local challenges and continued to promote our 'can do' culture to support them in meeting the presenting needs. We used feedback from monitoring and review to ensure delivery of quality services and outcomes for those we support. We retested our delivery service models, staffing models and financial models for rigour, and have expanded our delivery team in line with our additional contracts/units of accommodation. We developed our services to meet presenting needs, mobilising a 4-bed UASC/Care Leavers Service and a further 3-bed Care Leavers Service during the year. We have continued to respond to the wellbeing needs of those we support through our South Wales Police Commissioners Office Adverse Childhood Experiences Funding and ongoing Regional Integrated Funds to improve outcomes for those we support.

3. Collaboration and Innovation

We worked with our partners through participation in National, Regional and Local consultation, service review, workshops and forums. We engaged positively in service review of our Bond Scheme to closely align this to commissioning priorities in addressing housing need and move on for young people. We used feedback from our stakeholders including the young people we support, professionals who support them and commissioners to feed into our service improvements, and used this learning in our service development work. We worked with commissioners to further extend our footprint in Neath Port Talbot, developing services to meet presenting needs, extending our units of accommodation from 35 to 41 by the end of the year.

FUTURE PLANNING

We undertook our annual Business Planning processes in Quarter 4, working with our Trustees and Staff Team, and reflecting on feedback from our stakeholders to review our impact and what's worked; celebrate our achievements in 2024-25; and plan for the 2025-26 Financial Year under the overarching umbrella of our Strategic Plan 2022-2027. During 2025-26, we will be allocating our strategic funds in training staff to embed our trauma-informed and strength-based work; preparing for commissioning/re-commissioning opportunities by employing a Fundraiser to support our value added work and improving our Social Media presence via external commissioned support. Additionally, we will invest in cyclical upgrade of IT equipment to support our migration to Windows 11. Importantly, we will be continuing to review our offer to respond to the future needs of those who commission and are accommodated within our services.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

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

The organisation was first established in 1987 as Port Talbot and Afan Single Housing Society. During 1997 the charity changed its name to Dewis and the organisation became a charitable company limited by guarantee, incorporated on 18 July 1997 and registered as a charity on 13 August 1997. The company was established under a Memorandum of Association, which established the objects and powers of the company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.

Recruitment and appointment of new trustees

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Organisational structure

Dewis Limited has a Board of Trustees, which meets on a quarterly basis and is responsible for the strategies and policies of the charity. A scheme of delegation is in place and day to day responsibility for the provision of the services rests with the Director and the Senior Leadership Team.

Induction and training of new trustees

Each Board member will receive a Terms of Reference and Trustee Code of Conduct, Trustees if appointed to specific roles such as the Chair, Vice Chair or Treasurer will receive detailed role descriptions. There is an initial induction where the training needs of each Trustee are considered through a skills audit exercise. Formal training if required is accessed based on identified needs.

Risk management

The Trustees actively review the major risks which the charity faces on a quarterly basis and believe that maintaining our free reserves at the levels stated in the note 15 in the Financial Statements, combined with our annual review of the controls over key financial systems carried our through an internal audit programme, will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which we face and confirm that they have established systems to mitigate the significant risks based on a cycle of continuous review.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

03407991 (England and Wales)

Registered Charity number

1063949

Registered office

47 Station Road

Port Talbot

West Glamorgan

SA13 1NW

Trustees

Mrs L Evans (resigned 9.5.24)

Ms C Dunstan (resigned 15.10.24)

Mrs M Pilliner

Mr J N Davies

Mrs R Teague

Mr K Hedges

Mrs K E Perry-Jones (appointed 8.8.24)

Mrs N E Singleton (appointed 15.10.24)

Auditors

Bevan Buckland LLP

Chartered Accountants

And Statutory Auditors

Ground Floor Cardigan House

Castle Court

Swansea Enterprise Park

Swansea

SA7 9LA

Solicitors

JCP Solicitors

Venture Court

Waterside Business Park

Valley Way

Enterprise Park

Swansea

SA6 8QP

Bankers

Lloyds TSB

Station Road

Port Talbot

SA13 1JA

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Dewis Limited 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) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the trustees must not approve the financial statements unless they are satisfied that they 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 Charities 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.

AUDITORS

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

Approved by order of the board of trustees on 14 October 2025 and signed on its behalf by:

Mrs R Teague - Trustee

Opinion

We have audited the financial statements of Dewis Limited (the 'charitable company') for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows 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), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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, including its income and expenditure, for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; 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.

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

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

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

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

Identifying and assessing potential risks related to irregularities.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

- enquiring of management, including obtaining and reviewing supporting documentation, concerning the charitable company's policies and procedures relating to:

a) identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;

b) detecting and responding to the risks of fraud and whether they have knowledge of any actual. suspected or alleged fraud;

c) the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations;

- discussing among the engagement team how and where fraud might occur in the financial statements and any potential indicators of fraud.

- obtaining an understanding of the legal and regulatory frameworks that the charitable 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 charitable company, the key laws and regulations we considered in this context included the UK Companies Act and relevant tax legislation.

Audit response to risks identified

In addition to the above, our procedures to respond to risks identified included the following:

- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with relevant laws and regulations;

- enquiring of management concerning actual and potential litigation and claims; performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

- reading minutes of meetings of those charged with governance;

- in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments;

- assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and

- evaluating the operational rationale of any significant transactions that are unusual or outside the normal course of operations.

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

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

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.

Llinos Williams (Senior Statutory Auditor)

for and on behalf of Bevan Buckland LLP

Chartered Accountants

And Statutory Auditors

Ground Floor Cardigan House

Castle Court

Swansea Enterprise Park

Swansea

SA7 9LA

14 October 2025

2025

2024

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

1,137

-

1,137

1,286

Charitable activities

4

Charitable Activities

1,330,401

98,353

1,428,754

1,200,788

Investment income

3

13,243

-

13,243

7,649

Other income

17,968

-

17,968

16,820

Total

1,362,749

98,353

1,461,102

1,226,543

EXPENDITURE ON

Charitable activities

5

Charitable Activities

1,283,224

106,353

1,389,577

1,221,991

NET INCOME/(EXPENDITURE)

79,525

(8,000

)

71,525

4,552

Transfers between funds

18

200

(200

)

-

-

Net movement in funds

79,725

(8,200

)

71,525

4,552

RECONCILIATION OF FUNDS

Total funds brought forward

741,355

14,600

755,955

751,403

TOTAL FUNDS CARRIED FORWARD

821,080

6,400

827,480

755,955

2025

2024

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

12

243,807

6,400

250,207

258,138

Investments

13

-

-

-

85,000

243,807

6,400

250,207

343,138

CURRENT ASSETS

Debtors

14

146,041

-

146,041

138,809

Investments

15

220,000

-

220,000

139,479

Cash at bank and in hand

229,046

-

229,046

168,616

595,087

-

595,087

446,904

CREDITORS

Amounts falling due within one year

16

(17,814

)

-

(17,814

)

(34,087

)

NET CURRENT ASSETS

577,273

-

577,273

412,817

TOTAL ASSETS LESS CURRENT LIABILITIES

821,080

6,400

827,480

755,955

NET ASSETS

821,080

6,400

827,480

755,955

FUNDS

18

Unrestricted funds

821,080

741,355

Restricted funds

6,400

14,600

TOTAL FUNDS

827,480

755,955

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 14 October 2025 and were signed on its behalf by:

Mrs R Teague - Trustee

Cash flows from operating activities

Cash generated from operations

1

42,351

(1,784

)

Net cash provided by/(used in) operating activities

42,351

(1,784

)

Cash flows from investing activities

Funds used for current investment

(80,521

)

-

Purchase of fixed asset investments

-

(85,000

)

Sale of tangible fixed assets

357

-

Sale of fixed asset investments

85,000

-

Purchase of current investment

-

(3,727

)

Interest received

13,243

7,649

Net cash provided by/(used in) investing activities

18,079

(81,078

)

Cash flows from financing activities

Funds received from current investments

-

85,000

Net cash provided by financing activities

-

85,000

Change in cash and cash equivalents in the reporting period

60,430

2,138

Cash and cash equivalents at the beginning of the reporting period

168,616

166,478

Cash and cash equivalents at the end of the reporting period

229,046

168,616

1.	RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

2025

2024

£

£

Net income for the reporting period (as per the Statement of Financial Activities)

71,525

4,552

Adjustments for:

Depreciation charges

7,574

8,086

Interest received

(13,243

)

(7,649

)

Increase in debtors

(7,232

)

(9,359

)

(Decrease)/increase in creditors

(16,273

)

2,586

Net cash provided by/(used in) operations

42,351

(1,784

)

2.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.24

Cash flow

At 31.3.25

£

£

£

Net cash

Cash at bank and in hand

168,616

60,430

229,046

168,616

60,430

229,046

Liquid resources

Deposits included in cash

-

-

-

Current asset investments

139,479

80,521

220,000

139,479

80,521

220,000

Total

308,095

140,951

449,046

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.

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.

Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when received. Gifts in kind are valued at their estimated value to the charity and included under the appropriate headings.

Grants for immediate expenditure are accounted for when they become receivable. Grants received for specific purposes are treated as restricted funds. Grants restricted to future accounting periods are deferred and recognised in these periods.

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.

All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis e.g per scheme, estimated usage.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Fixtures and fittings

-

15% on cost

There is no depreciation on land.

Assets below £3,000 are not capitalised but included within expenses.

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.

Designated funds are unrestricted funds earmarked by the Board for particular purposes falling in future time periods. Designated funds in place as at 31st March 2025 are to cover future project expenditure not yet incurred.

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.

Allocation of support and governance costs

Support costs are those functions that assist the work of the Charitable Company but do not directly undertake charitable activities. Support costs have been allocated between governance costs and other support costs. Governance costs comprise all costs involving the public accountability of the Charitable Company and its compliance with regulation and good practice. These costs include costs related to statutory audit and legal fees together with apportionment of overhead and support costs.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remains with the lessor are charged to the statement of financial activities on a straight-line basis over the period of the lease.

Financial instruments

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

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.

Cash at Bank

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.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Basic financial liabilities

Basic financial liabilities, including creditors,that are classified as debt, 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.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business 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.

Creditors

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 discount due.

Functional and Presentation Currency

The company's functional and presentation currency is pounds sterling.

Going Concern

The Trustees consider that there are no material uncertainties about the Charitable Company's ability to continue as a going concern.

2.	DONATIONS AND LEGACIES

2025

2024

£

£

Donations

1,137

1,286

3.	INVESTMENT INCOME

2025

2024

£

£

Interest receivable

13,243

7,649

4.	INCOME FROM CHARITABLE ACTIVITIES

2025

2024

Activity

£

£

Rent receivable

Charitable Activities

509,496

434,302

BCBC Contract RSASDS

Charitable Activities

414,108

389,057

NPTCBC Contract UASC Park

Charitable Activities

39,698

38,197

NPTCBC Contract CSS

Charitable Activities

188,714

188,191

Grants

Charitable Activities

100,853

151,041

NPTCBC Contract UASC 29

Charitable Activities

167,959

-

NPTCBC Contract Swan

Charitable Activities

7,926

-

1,428,754

1,200,788

Grants received, included in the above, are as follows:

2025

2024

£

£

NPTCBC Food Poverty

250

5,000

WG Bond Board Grant

35,648

35,648

WG TSS Grant

44,808

44,808

Lloyds Bank Foundation

-

25,000

Moondance Grant

-

8,000

Mental Health Grant

12,017

12,017

South Wales Police ACE's Grant

3,380

13,156

Crime Beat West Glamorgan

-

2,000

M Davies Grant

-

912

NPTCVS Discretionary C.O.L

-

3,500

NPTCVS Youth Fund

1,000

1,000

Tesco Blue Coin

500

-

MaryHomfrey

2,000

-

CommunityCohesionFund

1,250

-

100,853

151,041

5.	CHARITABLE ACTIVITIES COSTS

Support

Direct

costs (see

Costs

note 6)

Totals

£

£

£

Charitable Activities

1,364,783

24,794

1,389,577

6.	SUPPORT COSTS

Support

costs

£

Charitable Activities

24,794

7.	NET INCOME/(EXPENDITURE)

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

2025

2024

£

£

Auditors' remuneration

8,278

10,920

Depreciation - owned assets

7,574

8,086

8.	TRUSTEES' REMUNERATION AND BENEFITS

The trustees received no emoluments from the charitable company.

Trustees' expenses

No trustees were reimbursed expenses in 2025 or 2024.

9.	STAFF COSTS

2025

2024

£

£

Wages and salaries

728,720

714,219

Other pension costs

28,287

24,951

757,007

739,170

The average monthly number of employees during the year was as follows:

2025

2024

Senior Management Team

3

3

Office Staff

1

1

Support Staff

22

21

26

25

No employees received emoluments in excess of £60,000.