REGISTERED COMPANY NUMBER: 14521351 (England and Wales)

REGISTERED CHARITY NUMBER: 1202082

FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2025

FOR

SWANSEA WOMEN'S AID

Page

Report of the Trustees

1

to

5

Report of the Independent Auditors

6

to

8

Statement of Financial Activities

9

Balance Sheet

10

Cash Flow Statement

11

Notes to the Cash Flow Statement

12

Notes to the Financial Statements

13

to

27

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).

The objectives are as follows:

a) the relief of women and their children who have suffered or are experiencing violence against women, domestic abuse and sexual violence by the provision of temporary accommodation and/or support;

b) to educate and inform the public, the media, the police, the courts, social services and other authorities with respect to violence against women, domestic abuse and sexual violence, in all its forms, against women and children.

Strategic Aims

To provide cost effective, high quality services that best address the immediate and longer term needs of women and children, enabling them to move forward positively and build successful independent lives.

To maximise the sustainability of SWA through prudent governance, diversification of income streams and effective appraisal of the optimum way forward whilst recognising and valuing our workforce - staff and volunteers.

Swansea Women's Aid Key Priorities for 2024-25

The priorities and progress made are outlined below:

Priority 1: Women and children to be able to access specialist high quality provision that is appropriate for their needs at the time they need it.

This requires strong management and highly motivated staff and volunteers.

Progress made is outlined below:

Recruitment and Appointment to the Trustee Board

As set out in the SWA Articles of Association, trustees can join the Board during the year but are confirmed as trustees after successful completion of an initial six- month probationary period. Trustees can serve terms of either one year, two years or three years.

There is an active recruitment process for trustees in recognition of the need to ensure there is an effective mix of skills on the Board. When recruiting members, the Board has regard for the need for a range of specialist skills and knowledge to ensure that it can operate effectively and fulfil its legal, strategic and operational responsibilities, such as fundraising/funding, HR, specialism relating to violence against women, domestic abuse and sexual violence (VAWDASV), health and safety etc.

Trustee Board members' induction and training

New members of the Trustee Board undergo an orientation to brief them on their legal obligations, the content of the constitution, the Board and decision making processes, the functioning and structure of the services, the business plan and recent financial performance. During induction, they visit each project to familiarise themselves with the services of SWA. The Trustee Board is encouraged to participate in internal and external training events that will further their skills and knowledge in undertaking their roles.

Organisational structure

SWA operates as a hierarchy and the responsibility for the day-to-day management of the organisation is delegated to the Chief Executive, whilst the Trustee Board meets on a bi-monthly basis and is responsible for strategic direction and policy.

The Chief Executive ensures that the organisation delivers quality services that are effectively managed and reviewed and evaluated by service users. This includes the supervision of staff and also ensuring that all staff - paid and unpaid- continue to develop their skills and working practices in line with best practice and have access to support, activities and clinical supervision to maximise their wellbeing.

All members of the Trustee Board and staff aim to keep up to date on all social and legislative practices, policies and procedures and the organisation works to a strict set of operational procedures which follow good practice and meet key stakeholders' requirements.

OBJECTIVES AND ACTIVITIES

Swansea Women's Aid Services

SWA offers specialist violence against women, domestic abuse and sexual violence (VAWDASV) services and operates within a quality framework, providing a strengths-based, needs-led, trauma informed and gender-responsive model of intervention in line with the Change That Lasts approach to build resilience and support long term freedom from abuse for survivors of domestic abuse.

Support is offered over the phone and via face-to-face appointments and specialist group work at our central office and the Swansea Domestic Abuse One Stop Shop (OSS). Children's services offer face-to-face support sessions and specialist preventative interventions in school and college settings. Hybrid working has continued across the organisation in recognition of the benefits it offered.

Current services are as follows:

-

Supported Housing project - offers 17 units of accommodation - 13 bedrooms across two refuges and four safe houses. All of these offer women and children escaping domestic abuse safe temporary accommodation and can be accessed on a 24/7 basis.

-

DAISE (Domestic Abuse, Information, Support and Empowerment) project - offers support to women in the community at their point of crisis through phone and face-to-face appointments, as well as drop-in sessions at the OSS. Specialist group work programmes also delivered, Freedom Programme, Own My Life Recovery Toolkit and Bridging the Gap, face-to-face throughout the year.

-

Supplementary services - free counselling available.

-

CHYPS (Children and Young People's Service) - offers support to children and young people (CYP) aged 5 - 25 years via face-to-face 1:1 appointments and specialist group work, play therapy and play activities. Healthy relationship workshops are delivered in schools and colleges to raise awareness of VAWDASV and the team also offers Rebuilding the Bond workshops to parent survivors to provide information/support that enhances the healing of the parent-child relationship

-

SWAN (Support, Wellbeing, Advocacy, eNablement) project - supports women exploited by the sex industry on the streets, in brothels and/or online, offering an evening outreach service 4 nights a week and crisis/ongoing support via the daytime support service.

-

Coproduction Centre - run by and for survivors to support those newly recovering, providing a great opportunity for skills and confidence building in a peer supported environment; women can also take part in strategic influencing with policy makers/service planners.

-

24-hour helpline - offers access to emergency accommodation and information and support to women and children experiencing VAWDASV.

Service User Review and Evaluation of Services

This is key to ensuring that services meet the needs of the women, children and young people accessing them. Service user evaluation is encouraged at all levels and forms an inherent part of service reviews with changes being made as a result.

Outcomes attainment

Across all services, support outcomes attainment is excellent and meets or exceeds stakeholders' expectations. Staff and the women we support work together to achieve collective outcomes.

Raising Awareness of VAWDASV Issues

SWA provides bespoke training to statutory and voluntary agencies on VAWDASV. We also respond to press enquiries and have undertaken a range of face-to-face and virtual presentations to raise awareness of our services and VAWDASV issues in general.

Priority 2: To increase the sustainability of the organisation

To maximise the sustainability of SWA through prudent governance, diversification of income streams and effective appraisal of the optimum way forward whilst recognising and valuing our workforce - staff and volunteers.

Risk management

The Trustee Board has a duty to identify and review the risks to which the organisation is exposed and to ensure that appropriate controls are in place to provide reasonable assurance against fraud, error and threats to business sustainability or the provision of services.

The SWA Organisational Risk Assessment Action Plan is regularly reviewed throughout the year to ensure the organisation continues to meet its legislative requirements and remains financially viable.

All significant new initiatives, major commitments and investment projects are subject to formal authorisation by the Board.

Diversification of funding base

There has been an increased focus on maximising sources of unrestricted funding and funding applications this year to widen the funding base of the organisation in order to lessen the impact of possible future funding cuts from statutory sources, build on capacity and enhance the future sustainability of the organisation.

SWA's registration as a charity with the Charities Commission in 2023 has opened up trust funding opportunities that were previously not available to SWA as a society.

Quality Assurance

SWA has an internal Quality Assurance framework that guarantees that service delivery meets the required standards and stakeholder monitoring requirements are met.

We hold the Welsh Women's Aid National Quality Service Standard (NQSS) award that demonstrate excellence in specialist VAWDASV service delivery, management and governance.

.

In addition, we hold the 'Achieving' Level of the FairPlay Employer Award for Gender Equality via the Agile Nation 2 project at Chwarae Teg.

SWA is also a Disability Confident Committed employer.

Strategic plan

SWA continues to work towards achieving the priorities set out in its 2024-2026 strategic plan which includes a focus on diversifying funding streams, strengthening its fundraising expertise, review of human resource functions to improve staff retention and career progression and a restructure to ensure the effective, high quality delivery of services and improve staff wellbeing.

Seren Môr Network

SWA continues to be a member of the Seren Môr Network. Other consortium members are:

-

BAWSO

-

New Pathways

-

Stori

-

Thrive Domestic Abuse Services

The main aim and purpose of the network is to strengthen, sustain, develop and protect VAWDASV services across the Western Bay region

The network is keen to work closely with other key partners to ensure that it is supporting priority aims and objectives, providing services that meet the needs of those facing VAWDASV issues across the Swansea Bay region and delivering the highest quality of services.

Partnership working

This continues to be key when looking at the way forward, given the national focus on regionalisation and the drive for collaborative working. SWA is a member of Welsh Women's Aid and part of the wider network of specialist VAWDASV providers in Wales and the UK. As such, it is essential that work is undertaken to expand the links with other agencies and look at collaborative opportunities.

In the next year, SWA will continue to look for potential partners to build its capacity and enhance organisational sustainability.

ACHIEVEMENTS AND PERFORMANCE

Women and children supported during the year are as follows:

Project

Number of Women/CYP supported

Refuge & safe houses

69

DAISE

501

Supplementary services

10

CHYPS - 1:1/group work

111

CHYPS - healthy relationship workshops

112

CHYPS - parenting workshops

10

Co-production Centre

92

SWAN

158

Helpline

1096

Achievements during the year are as follows:

-

Relocation of central office to a prime city centre site that incorporates the co-production centre and enables SWA to deliver all of its community and children's services under one roof

-

Establishment of senior management team, adding capacity and strength to our organisational structure

-

Ongoing successful appeals via social media for emergency supplies of food, clothing, bedding, mobile phones etc.

-

Increased diversification of funding through trusts, donations, community fundraising etc.

-

Continued growth of coproduction centre by survivor co-production volunteers.

FINANCIAL REVIEW

Financial position

The organisation achieved a surplus of £91,202 this year (2024: surplus of £18,434) and total net assets stand at £732,828 (2024: £641,626).

Reserves

As at 31st March 2025 the unrestricted free reserves were £449,193. The majority of the organisation's income is grant funded and it is recognised that there is a need to build up reserves should this be reduced, in order to continue services until alternative sources of incomes are secured. The reserves policy of SWA states that the organisation is to establish reserves at the equivalent of three months running costs.

Principal Funding Sources

- The City and County of Swansea

- Lottery Community Fund

- South Wales Police and Crime Commissioner

- The Henry Smith Charity

- Waterloo Foundation

- Leathersellers' Foundation

- Welsh Government VAWDASV Capital Grant Scheme

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Swansea Women's Aid (SWA) is a company limited by guarantee and registered as a charity with the Charities Commission.

SWA is governed by its Articles of Association and reports annually to Companies House and the Charities Commission. In the event of the organisation winding up, its members are required to contribute an amount not exceeding £1.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

14521351 (England and Wales)

Registered Charity number

1202082

Registered office

8-10 Caer Street

Swansea

SA1 3PP

Trustees

Clare Tregoning

Chair

Avril Llewellyn

Treasurer

Heather Cooper

Ann Collins

Lynne Isaac

Sarah Jones

Georgina Cornelius

Appointed 20th November 2024

Karen Haynes

Appointed 20th November 2024

Auditors

Bevan Buckland LLP (Statutory Auditors)

Ground Floor Cardigan House

Castle Court

Swansea Enterprise Park

Swansea

SA7 9LA

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Swansea Women's Aid 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. 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 (Statutory Auditors), has expressed its willingness to continue in that capacity.

Approved by order of the board of trustees on 26 November 2025 and signed on its behalf by:

C E Tregoning - Trustee

Opinion

We have audited the financial statements of Swansea Women's Aid (the 'charitable company') for the year ended 31 March 2025 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 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; 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 2024 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 andnon-compliance with laws and regulations, our procedures included the following:

Enquiring of management, including obtaining and reviewing supporting documentation, concerning the Charity'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;

-

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

-

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

-

obtaining an understanding of the legal and regulatory frameworks that the Charity operates in, focusing on those laws and regulations that had a direct effect on the financial statements or that had a fundamental effect on the operations of the Charity, The key laws and regulations we considered in this context included the UK Companies Act and relevant tax legislation.

Audit response to risks identified

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

-

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

-

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

-

reading minutes of meetings of those charged with governance;

-

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

-

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

-

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

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

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

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 (Statutory Auditors)

Ground Floor Cardigan House

Castle Court

Swansea Enterprise Park

Swansea

SA7 9LA

3 December 2025

2025

2024

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

3

19,745

-

19,745

18,433

Charitable activities

5

Charitable Activities

7,449

1,107,968

1,115,417

930,532

Rents Received

247,863

-

247,863

219,637

Investment income

4

4,387

-

4,387

4,643

Other income

-

-

-

1,674

Total

279,444

1,107,968

1,387,412

1,174,919

EXPENDITURE ON

Charitable activities

6

Charitable Activities

277,420

1,018,790

1,296,210

1,156,485

NET INCOME

2,024

89,178

91,202

18,434

Transfers between funds

16

(2,515

)

2,515

-

-

Net movement in funds

(491

)

91,693

91,202

18,434

RECONCILIATION OF FUNDS

Total funds brought forward

449,684

191,942

641,626

623,192

TOTAL FUNDS CARRIED FORWARD

449,193

283,635

732,828

641,626

2025

2024

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

12

17,791

-

17,791

7,678

CURRENT ASSETS

Stocks

13

150

-

150

150

Debtors

14

104,599

-

104,599

39,743

Cash at bank and in hand

374,477

283,635

658,112

651,555

479,226

283,635

762,861

691,448

CREDITORS

Amounts falling due within one year

15

(47,824

)

-

(47,824

)

(57,500

)

NET CURRENT ASSETS

431,402

283,635

715,037

633,948

TOTAL ASSETS LESS CURRENT LIABILITIES

449,193

283,635

732,828

641,626

NET ASSETS

449,193

283,635

732,828

641,626

FUNDS

16

Unrestricted funds

449,193

449,684

Restricted funds

283,635

191,942

TOTAL FUNDS

732,828

641,626

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 26 November 2025 and were signed on its behalf by:

C E Tregoning - Trustee

Cash flows from operating activities

Cash generated from operations

1

21,353

(18,030

)

Net cash provided by/(used in) operating activities

21,353

(18,030

)

Cash flows from investing activities

Purchase of tangible fixed assets

(19,183

)

-

Interest received

4,387

4,643

Net cash (used in)/provided by investing activities

(14,796

)

4,643

Change in cash and cash equivalents in the reporting period

6,557

(13,387

)

Cash and cash equivalents at the beginning of the reporting period

651,555

664,942

Cash and cash equivalents at the end of the reporting period

658,112

651,555

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)

91,202

18,434

Adjustments for:

Depreciation charges

9,070

6,003

Interest received

(4,387

)

(4,643

)

Increase in debtors

(64,856

)

(13,033

)

Decrease in creditors

(9,676

)

(24,791

)

Net cash provided by/(used in) operations

21,353

(18,030

)

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

651,555

6,557

658,112

651,555

6,557

658,112

Total

651,555

6,557

658,112

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.

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

Income

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

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

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

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

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

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all 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.

Tangible fixed assets

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

Fixtures and fittings

25%

Motor vehicles

25%

Computer equipment

25%

Cost comprises the purchase price of the asset and expenditure directly attributable to the acquisition of the item.

A fixed asset is derecognised upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. 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 credited or charged to the income statement.

Impairment of fixed assets

The charity performs impairment testing where there are any indicators of impairment. Impairment is calculated as the difference between the carrying value and the recoverable value of the asset. Recoverable value is the higher of net realisable value and estimated value in use at the date the impairment loss is recognised. Value in use represents the present value of expected future discounted cash flows. If incurred, impairment is recognised immediately in the income statement.

Where an impairment loss subsequently reverses, the carrying value of the asset is increased to the revised estimate of the recoverable amount, but so that the increased carrying value does not exceed the carrying value that would have been determined if no impairment loss had been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately as a credit to the income statement.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from corporation tax on its charitable activities.

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.

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.

Fund accounting

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

Designated funds are unrestricted funds earmarked by the trustees for particular purposes falling in future periods.

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.

Operating leases

Rentals paid under operating leases are charged to the SOFA on a straight line basis over the period of the lease.

Financial Instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic 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.

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.

Derecognition of financial assets

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

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 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.

2.	CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

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

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

Pension scheme assets are measured at fair value and liabilities are measured on an actuarial basis using the projected unit method and discounted at a rate equivalent to the current rate of return on a high quality corporate bond of equivalent currency and term to the scheme liabilities. The actuarial valuations are obtained at least triennially and are updated at each balance sheet date. The resulting defined benefit asset or liability, net of the related deferred tax, is presented separately after other net assets on the face of the balance sheet.

Estimation Uncertainty

The charity makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. Management consider their to be no estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

3.	DONATIONS AND LEGACIES

2025

2024

£

£

Donations

19,745

18,433

4.	INVESTMENT INCOME

2025

2024

£

£

Deposit account interest

4,387

4,643

5.	INCOME FROM CHARITABLE ACTIVITIES

2025

2024

Activity

£

£

Grants

Charitable Activities

1,115,417

930,532

Rent Received

Rents Received

247,863

219,637

1,363,280

1,150,169

Grants received, included in the above, are as follows

2025

2024

£

£

Children in Need

7,198

38,490

National Lottery Community Fund

250,892

166,346

Welsh Women's Aid

55,280

68,570

South Wales Police and Crime Commissioner

84,897

84,897

City & County of Swansea

439,389

413,258

WCVA

8,937

24,936

Henry Smith Charity

119,600

59,200

Austin Bailey Grant

-

1,480

Waterloo Foundation

21,432

25,000

National Grid

-

9,448

Moondance

-

33,377

Enabling Communities

-

5,530

National Lottery - Awards for All

20,000

-

Leather Sellers

20,000

-

Welsh Government

76,594

-

Screwfix

5,000

-

Charities Trust

6,198

-

1,115,417

930,532

6.	CHARITABLE ACTIVITIES COSTS

Support

Direct

costs (see

Costs

note 7)

Totals

£

£

£

Charitable Activities

1,120,410

175,800

1,296,210

7.	SUPPORT COSTS

2025

2024

£

£

Auditors' remuneration

10,565

9,770

Office expenses

57,733

56,969

Governance

2,594

3,392

Insurance

5,904

5,030

Consultancy

20,194

15,492

Recruitment

2,112

1,515

Supervision and training

34,163

13,590

Trustee expenditure

-

57

Bad debts

3,752

-

Relocation costs

38,783

-

175,800

105,815