REGISTERED COMPANY NUMBER: 09574555 (England and Wales)

REGISTERED CHARITY NUMBER: 1163542

Report of the Trustees and

Financial Statements for the Year Ended 31 March 2025

for

Care & Repair Cymru 2015

Page

Report of the Trustees

1

to

7

Report of the Independent Auditors

8

to

9

Statement of Financial Activities

10

Balance Sheet

11

Cash Flow Statement

12

Notes to the Cash Flow Statement

13

Notes to the Financial Statements

14

to

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).

Structure, Governance and Management

Care & Repair Cymru 2015 Ltd is a national charity that actively works to ensure that older people (homeowners and private tenants) in Wales can live independently in safe, warm, accessible homes.

The Memorandum and Articles of Association of Care & Repair Cymru 2015 Ltd were adopted by Special Resolution dated 5 May 2015. Registration with the Charity Commission was on 14 September 2015.

The Directors, as charity Trustees, have control of the Charity and are collectively known as the Board of Management. The Board of Management when complete consists of a minimum of seven individuals and a maximum of eleven.

(a)

up to nine Trustees elected by the Members of the Charity (the "Elected Trustees"); and

(b)

up to two Trustees appointed by the Board from the Care & Repair Agency Representative Group (the "Appointed Trustees").

The Elected Trustees shall be elected by the Members at the AGM (subject to article 10.13) by ballot in such a manner as the Chair of the meeting directs. One third (or the number nearest, but not less than one third) of the Elected Trustees must retire each year at the AGM.

Appointed Trustees shall be appointed and removed from time to time by the Trustees of the Charity. Trustees may determine the practice by which it makes any such decisions regarding appointments or removals of Appointed

Trustees.

The Trustees shall, at every AGM, elect a Chair from amongst their own number to hold office. The maximum term of office is five years and the Chair must at all times remain a Trustee and Member of the Charity.

None of the trustees receive remuneration other than out of pocket expenses from their work with the charity.

Our objectives and activities

As a registered charity our objectives are to:

(a)

Alone or in conjunction with others (including the Care & Repair Agencies referred to below) to relieve the needs of people in Wales who are disadvantaged by reason of age, ill-health, or disability ("disadvantaged people"), and in particular their housing needs, for the public benefit by:

i)

Championing the housing needs of disadvantaged people living in owner occupied and private rented housing through the effective national lobbying and continued development of national partnerships;

ii)

Promoting the linkages between health, housing and social care;

iii)

Researching, publicising, campaigning, and raising public awareness about housing problems faced by disadvantaged people, and suggesting suitable policy and service solutions to government, statutory bodies, educational establishments and third sector to alleviate such housing needs; and

iv)

Provision of services that help identify, publicise, and alleviate housing needs faced by disadvantaged people.

(b)

Promote the voluntary sector by promoting the efficiency and effectiveness of voluntary organisations working to relieve the needs of disadvantaged people in Wales for the benefit of the public by;

i)

Providing services and advice to Care & Repair Agencies in Wales on grant funding applications, and information on the performance of Care & Repair Agencies across Wales and outcomes achieved for disadvantaged people;

ii)

Promoting Care & Repair services through all media, strategic, political, and voluntary networks;

iii)

Informing, advising, and supporting Care & Repair Agencies to deliver services that address individual disadvantaged people's housing needs;

iv)

Advising Care & Repair Agencies on matters relating to the current political, economic, and demographic changes that impact on the lives of disadvantaged people;

v)

Safeguarding the values, standards, service quality and brand of the Care & Repair Movement ("the Movement") and developing good practice guidance and sound information.

vi)

Protecting substantial public monies invested in the Movement by developing robust systems that monitor and evaluate the quality of services and outcomes delivered; and

vii)

Providing a trusted and experienced platform for debate, innovation, and information on the housing needs of disadvantaged people in Wales.

In shaping our objectives, the trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2).

Organisation and staffing

Staffing establishment during 2024-25 was 16 (14 FTEs), the same as 2023/24. During the year, there was one leaver (Partnership and Funding Officer) two new starters (Corporate Services Officer (maternity cover) and Policy Officer), and one internal secondment to the new fixed term post of Older Not Colder Project Manager.

One elected Board member resigned at the September 2024 AGM. One appointed Board member resigned as Agency Chairs representative, while another Agency Chair was appointed in their place. There was one vacancy for elected trustee after the AGM.

The organisation continued to work successfully under our post Covid Hybrid Working Policy, with staff working at least two days in the office and three days remote working.

Following notice of retirement of the Head of Agency Support and Development, there was an internal Management reorganisation, duly consulted with staff, which took effect in February 2024 to enable effective handover of the work of the outgoing Head of Service.

Achievements and Performance

Front line outcomes delivered and supported.

Our leadership, direct activities, fundraising, and support helped deliver the following outcomes for older people living in poor housing in 2024/25:

-

64,669 (-4%) combined service types delivered to support safe independent living at home.

-

£21.9 million housing repair and improvement work across all our services.

-

65,557 (+9%) jobs completed.

-

These jobs included 24,933 Rapid Response Adaptations, supporting hospital discharges, and preventing admissions to hospital and residential care.

-

92% (+1%) told us that their independence and wellbeing had improved.

-

97% (+1%) told us they would recommend Care & Repair to others.

-

£12.56 million of unclaimed benefit entitlements claimed for older people across all our services, helping beneficiaries to better afford food, transport and pay energy and other bills.

-

3,316 (+2%) people with sensory loss, stroke and dementia supported to adapt their homes and live independently through our specialist "Managing Better" service.

-

5,786 (+23%) patients supported with a quicker safe discharge home through our "Hospital to a Healthier Home" service based in 17 hospitals across Wales. We undertook 3,083 Healthy Homes Assessments following which 7,192 home improvement and adaptations jobs were completed with £1.52m million in grants accessed for patients to pay for this work. This led to an estimated 29,046 bed days saved.

-

135 Care & Repair Agency clients helped through our hardship funds, helping alleviate fuel poverty, tackling unsafe gas installations, and older people living in poor housing conditions with a total cost of works of £173,528, of which our hardship funds contributed £59,832.

Other work to support Care & Repair Agencies, develop and improve services:

-

In year successful application to WG for £500,000 additional RRAP funding for C&R Agencies in 2024-25).

-

Through our representation work in 2024/25, secured an additional £1.5m capital for RRAP and £1.2m core revenue for Care & Repair as a Movement in 2025/26.

-

Managed the national SLA for H2HH and led work with LHBs on funding services. Successfully achieved funding for a further year of Hospital to a Healthier Home funding from four local health boards, April 2024 to March 2025, and 5 months funding from one health board, while a single tender commissioning process is put in place for 3 years future funding. Funding of £488,438 in 2024-25 will enable the service to continue in 17 hospitals.

-

Continued work on the design and development of the new bespoke CRM and reporting database for the whole Movement, implemented in all Agencies by the end of March 2025.

-

Prepared and presented performance Evaluation Reports to Boards of all C&R Agencies, to help support good governance in performance monitoring.

-

Held consultation events with Agency Chief Officers and Chairs and developed a new Five-Year Strategy for Care & Repair, with further work and co-production to follow during 2024 on priority setting and action planning to meet the objectives set.

-

Through our Policy and Public Affairs Work, developed a key ask of a new Safety Net Grant for tackling serious and urgent housing disrepair for Care & Repair clients, and progressing this ask with the senior politicians and civil servants in Welsh Government.

Representation, advocacy, policy and influencing work:

Significant work was undertaken to influence government policy, represent the needs of older people, and share key policy updates and good practice with Care & Repair Agencies. Highlights are as follows:

-

Published two new reports: 'Leaky Homes and a Lack of Support', and 'Home Safety: How Improving Electrics is Changing Lives in Wales alongside media and political pick-up.

-

Prepared the following written submissions:

i)

Five Welsh Government consultations

ii)

Two UK Government consultations

iii)

Thirteen Ofgem consultations

iv)

Two Senedd and two UK Government committees

v)

Miscellaneous submissions to consultations including Member Bill on BSL, third sector partner policy statement and gas supplier business plans.

-

Gave oral evidence to the Housing and Local Government Committee on the Role of Local Authorities in Hospital Discharge.

-

Gave oral evidence to the Equality and Social Justice Committee on the Warm Homes Programme.

-

Gave oral evidence to the UK Work and Pension's Committee inquiry on Pensioner Poverty.

-

Various presentations on our main key asks, including a 'safety-net grant for hazardous disrepair' in older people's homes to external stakeholders, including Ministerial Advisory Forum on Ageing, and Cross-Party Group on Housing, Cross Party Group in Fuel Poverty and Energy Efficiency.

-

Provided a briefing of political and policy developments from governments and stakeholders every week to CRC staff and Agency Chief Officers, with ad hoc additional deep-dive briefings.

-

Panellist at the Tai Conference session on 'A Right to Adequate Housing'

-

Panellist at the National Energy Action Fuel Poverty Forums and their national 'Housing and Health' conference.

-

Panellist at Policy Forum Wales: 'Next steps for heat and heat networks in Wales'.

-

Meeting with Health and Social Care Minister via WCVA Health and Social Care Group.

-

Continued secretariat role for the Cross-Party Group on Housing.

-

Vice Chair of the National Falls Prevention Taskforce.

-

Input into WG stakeholder group on 'Fair Rents and a Right to Adequate Housing Green Paper', and inputted feedback on white paper.

-

Continued evidence provided to Cab. Sec for Housing and Local Government on our ask for a housing safety-net grant, providing written evidence for ongoing dialogue.

-

Sit on various public health research groups including 'indoor air quality', 'hoarding' and 'accessible housing partnership'.

-

Research partnership with Public Health Wales using Hospital to a Healthier Home data to find readmission rate of service.

-

Continue to represent Care & Repair at stakeholder groups including:

i)

Ministerial Advisory Forum on Ageing (MAFA)

ii)

WG Fuel Poverty Advisory Panel.

iii)

Age Alliance Wales.

iv)

Vice Chair of the Wales Prudent Falls Prevention Task Force

v)

Cross-Party Groups on Housing, Energy Efficiency, Older People/Ageing and Intergenerational Solidarity.

vi)

Fuel Poverty Coalition Cymru.

vii)

Digital Inclusion Alliance Wales

viii )

Home First Community of Practice, Accommodation Based Solutions Community of Practice, and Goal 6 Action Group for Six Goals for Urgent and Emergency Care.

ix)

WG Health & Social Care Planning Group.

PR, Communications and Marketing

Some of the key highlights and achievements were:

-

UK General Election Manifesto published in collaboration with Care & Repair Scotland.

-

New attractive advice brochure for clients created, with 10,000 printed and distributed to Agencies.

-

Conference 2024 - marketing, social media, planning, coordinating, QR codes, programme, banners, printed materials, etc.

-

Care & Repair Cymru annual Impact Report published, highlighting our successes over the last 12 months.

-

Launch of new 5-Year Strategy for Care & Repair in Wales. Launch included a visit from the new Cabinet Secretary for Housing and Local Government to a client near Pontypool.

-

Care & Repair 45 Year Anniversary event held at the Senedd. New history timeline and celebration video create for the event, which attracted MS and key stakeholders.

-

Christmas Gift Box Appeal in collaboration with Age Cymru and Age Connects. With nine C&R Agencies involved and over 500 gift boxes received it was our best ever appeal.

-

The Care & Repair Ambassador scheme attracted six new volunteers in the first year. Some have already had visits from MSs, and others have joined our events.

-

ONC national advertising campaign held through winter 2024-25. Overall, the campaign attracted more than 200 new referrals to the ONC service.

-

Safety-Net Grant campaign solidified with a dedicated web page, publicity and pledge card. The campaign has now attracted pledges of support from NHS, council and third sector partners.

-

2026 Senedd Election Manifesto published and launched at political party conferences in Spring 2025. The Safety Net Grant campaign is central to the manifesto.

Fundraising and income

Our fundraising and income generation work during 2024-25 raised a total of £153,840. Some highlights were:

-

£6,743 from Annual Conference

-

£5,250 from our commercial membership scheme.

-

£72,939 from project management of Hospital to a Healthier Home, NEA Warm Homes Healthy Futures project, Older Not Colder (Wales & West Utilities), National Lottery Community Fund Hardship Fund, Bridgend Dementia First and SAIL research.

-

£7,477 from desk rental and meeting room hire.

-

£1,399 general donations.

-

£18,005 bank interest.

-

£40,000 from our corporate partnership with Wales & West Utilities.

Financial Review

On the balance sheet, the charitable company is reporting total funds carried forward of £328,618 for the year ended 31 March 2025 compared to £247,440 for the previous period.

The reason for the increase in our balance sheet in 2024-25 is the increase in restricted funds, Wales & West Utilities for Older Not Colder (£4,154), and a decrease in the pension deficit amount of £85,000 from the annual revaluation. In addition, the charity performed very well on income generation, returning a surplus of £81,177. This represents a good financial year, achieved by good financial planning and in year financial management, and a prudent approach.

Care & Repair Cymru's policy is to hold general unrestricted reserves to cover at least three months contractual requirements in the unlikely event of the charity winding down. The main costs would include redundancy payments, contractual service commitments and other winding down costs. The current reserves target was set in February 25 at £228,579. The surplus of unrestricted free reserves over and above this is £186,443 and trustees will consider appropriate use of this during 2025-26.

Trustees are acutely aware of the financial challenges faced by the organisation, including the pension deficit, and risks to grant and project funding. We repay regular annual amounts, as agreed with The Pensions Trust Retirement Services (TPT), which serves to reduce Care & Repair Cymru's pension deficit amount every year. We have met these deficit payments for many years, and despite this have made surpluses for the past several years and grown our general unrestricted reserves.

We regularly receive reports and participate in discussions on financial strategy, through quarterly Board meetings, and Board Planning days, the next of which will be held during October 2025. Our Finance and Risk Committee apply additional scrutiny to our finances, financial planning, and risk management at least three times a year. We plan for different financial risks and have taken a long-term approach to sustainability and diversifying our income streams through an income generation strategy that commenced in 2015. Since then, our funds and income have become more diverse, and we continue to invest in income generation and applications to Trusts, Foundations, National Lottery, and others.

Through regular communications between the Board and CEO, trustees consider future funding strategy and priorities that help support financial sustainability. In the staffing structure, there is currently a Business Development Manager, and Funding and Partnerships Officer, partly financed through designated reserves, who work on funding applications, income generation and new business development.

As trustees, we recognise that grant funding and other sources of funding require constant hard work, with no quick fixes. Through our representation work, we achieved an increase of 15% core grant funding from WG for 2025/26. Our strategy is that we will continue to invest resources into retaining and growing core grant funding, applications for new projects, continuation of existing projects, and income generation during 2025-26. As a result of the retirement of the Head of Agency Support & Development in March 2025 a management reorganisation and new staff structure was implemented in February 2025.

In relation to the organisation being a "going concern" over the 12 months from July 2025, trustees are satisfied that this is the case. This is because our two key grant funding streams (core and Managing Better) have been confirmed for 2025-26 by Welsh Government. Trustees have approved a balanced budget in 2025-26. This includes use of £41,000 designated reserves, and an income target of £145,000 (a similar amount to that achieved in 2024/25), to supplement grant funding, with many income streams being robust and in place long-term giving trustees confidence that the income target will be met. As mentioned above, we also have healthy levels of reserves. However, funding after March 2026 is yet to be confirmed.

As outlined above, trustees are aware of and have plans in place to tackle future financial challenges. However, the charity does rely on annual grant funding and trustees are aware of the continued potential long-term financial pressures and risk to economic stability from the continuing wars in Ukraine and the Middle East.

Risk Management

Trustees review risks facing the charity on a regular basis at Board meetings, in line with its adopted risk management policy. The Risk Register is discussed and scrutinised regularly and in more detail by the Finance & Risk Committee.

Acknowledgements

As Trustees of Care & Repair Cymru, we would like to thank everyone involved in our work during 2024-25, in particular Care & Repair Agencies, Welsh Government, national and local partners, third sector partners, and all our funders. We would also like to thank all our staff team at Care & Repair Cymru for their hard work in delivering a range of different services, and for making such a difference to the quality of life of older people across Wales.

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.

Reference and administrative details

Registered Company Number

09574555 (England and Wales)

Registered Charity Number

1163542

Registered Office

Mariners House

Trident Court

East Moors Road

Cardiff

CF24 5TD

Trustees

Chairperson

Andrew Vye

Individual

Appointed September 24

Sarah Willey

Individual

Resigned September 24

Vice Chair

Elizabeth Warwick

Individual

Appointed September 24

Treasurer

Fay Satherley

Individual

Trustees

Christopher Binding

Agency Representative

Gwynne Jones

Individual

Appointed September 24

Clare Strowbridge

Individual

Sally Davies

Individual

John Hunt

Individual

Resigned September 24

Karen Athanatos

Individual

Neil Bradshaw

Individual

Victoria Evans

Agency Representative

Appointed September 24

Co-opted

Rhodri Owen

Individual

Observers

Jim McKirdle

Welsh Local Government Association

Honorary Vice- President

Sharon Mainwaring

Individual

Chief Executive

Chris Jones

Secretary

Chris Jones

Statutory Auditors

Menzies LLP

5th Floor Hodge House

114-116 St Mary Street

Cardiff

CF10 1DY

Statement of trustees' responsibilities

The trustees (who are also the directors of Care & Repair Cymru 2015 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, Menzies LLP, Statutory Auditors, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Approved by order of the board of trustees on 8 July 2025 and signed on its behalf by:

A Vye - Trustee

Opinion

We have audited the financial statements of Care & Repair Cymru 2015 (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:

Our planning procedures identify the legal and regulatory frameworks applicable to the operations and financial statements of the company. These are reviewed internally with the audit team including relevant industry experience and expectations as well as externally with the client management. The key laws and regulations we considered in this context were the UK Companies Act 2006, UK GAAP (FRS 102) and relevant tax legislation.

Once identified, we assess the risks of material misstatements in relation to the laws and regulations, irregularities, including fraud and adjust our testing accordingly. Our audit procedures include:

- Discussing with Director and management which areas of the business they believe to be more susceptible to fraud, and whether they have any knowledge or suspicion of fraudulent activities;

- Obtaining an understanding of the key controls put in place by the company to address risks identified, assessing the effectiveness of those and discussing how these are maintained and monitored internally;

- Assessing the risk of management override and review and testing of journal entries made into the accounting system;

- Discussing with Director and Management the legal and regulatory obligations of the business and whether they have any knowledge or suspicion of non compliance.

Despite the audit being planned and conducted in accordance with ISAs (UK) there remains an unavoidable risk that material misstatements in the financial statements may not be detected owing to inherent limitations of the audit, and that by their very nature, any such instances of fraud or irregularities likely involve collusion, forgery, intentional misrepresentation, or the override of internal controls.

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.

Victoria Carter (Senior Statutory Auditor)

for and on behalf of Menzies LLP, Statutory Auditors

5th Floor Hodge House

114-116 St Mary Street

Cardiff

CF10 1DY

15 September 2025

2025

2024

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

Income and endowments from

Donations and legacies

2

48,627

-

48,627

73,735

Charitable activities

4

Charitable activities

574,810

2,037,487

2,612,297

2,080,475

Investment income

3

25,482

-

25,482

21,662

Other income

5

100,598

-

100,598

70,420

Total

749,517

2,037,487

2,787,004

2,246,292

Expenditure on

Raising funds

6

6,228

-

6,228

3,870

Charitable activities

7

Charitable activities

669,871

2,037,728

2,707,599

2,014,735

Total

676,099

2,037,728

2,713,827

2,018,605

NET INCOME/(EXPENDITURE)

73,418

(241

)

73,177

227,687

Other recognised gains/(losses)

Actuarial gains/(losses) on defined benefit schemes

8,000

-

8,000

(61,000

)

Net movement in funds

81,418

(241

)

81,177

166,687

Reconciliation of funds

Total funds brought forward

84,656

162,785

247,441

80,753

Total funds carried forward

166,074

162,544

328,618

247,440

2025

2024

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

Fixed assets

Intangible assets

14

10,204

-

10,204

13,806

Tangible assets

15

14,862

-

14,862

16,010

25,066

-

25,066

29,816

Current assets

Debtors

16

170,235

-

170,235

82,816

Cash at bank and in hand

677,326

162,544

839,870

789,303

847,561

162,544

1,010,105

872,119

Creditors

Amounts falling due within one year

17

(426,553

)

-

(426,553

)

(289,495

)

Net current assets

421,008

162,544

583,552

582,624

Total assets less current liabilities

446,074

162,544

608,618

612,440

Creditors

Amounts falling due after more than one year

18

(280,000

)

-

(280,000

)

(365,000

)

NET ASSETS

166,074

162,544

328,618

247,440

Funds

20

Unrestricted funds

166,074

84,655

Restricted funds

162,544

162,785

Total funds

328,618

247,440

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 8 July 2025 and were signed on its behalf by:

A Vye - Trustee

Cash flows from operating activities

Cash generated from operations

1

37,271

272,740

Net cash provided by operating activities

37,271

272,740

Cash flows from investing activities

Purchase of tangible fixed assets

(5,072

)

(12,597

)

Sale of tangible fixed assets

363

-

Interest received

18,005

15,470

Net cash provided by investing activities

13,296

2,873

Change in cash and cash equivalents in the reporting period

50,567

275,613

Cash and cash equivalents at the beginning of the reporting period

789,303

513,690

Cash and cash equivalents at the end of the reporting period

839,870

789,303

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)

73,177

227,687

Adjustments for:

Depreciation charges

9,422

8,286

Loss on disposal of fixed assets

37

-

Interest received

(18,005

)

(15,470

)

(Increase)/decrease in debtors

(87,419

)

100,414

Increase in creditors

52,059

12,823

Difference between pension charge and cash contributions

8,000

(61,000

)

Net cash provided by operations

37,271

272,740

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

789,303

50,567

839,870

789,303

50,567

839,870

Total

789,303

50,567

839,870

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.

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.

Cash donations are recognised on receipt. Other donations are recognised once the charity 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.

Contracted income is recognised in the period in which the service is provided with any amounts received in advance being deferred.

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.

Intangible fixed assets

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

Website costs - 20% on cost

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 - 20 - 33.3% on cost

Computer Equipment - 25% on cost

Taxation

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

Fund accounting

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

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

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

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2.	Donations and legacies

2025

2024

£

£

Donations

48,627

73,735

3.	Investment income

2025

2024

£

£

Rents received

7,477

6,192

Deposit account interest

18,005

15,470

25,482

21,662

4.	Income from charitable activities

2025

2024

Activity

£

£

Welsh Government

Charitable activities

538,242

538,243

Welsh Government - Managing Better

Charitable activities

700,000

700,000

Local Health Board

Charitable activities

456,719

493,230

Wales and West Utilities - CO Alarm Project

Charitable activities

10,096

9,904

Gas safety

Charitable activities

14,714

10,457

Health & Social Care

Charitable activities

-

3,756

Sobell Foundation

Charitable activities

10,000

10,000

Wolfson Foundation

Charitable activities

-

3,375

Database Project Manager

Charitable activities

36,568

82,171

National Lottery

Charitable activities

44,974

19,383

Oakdale Trust

Charitable activities

1,117

1,240

Veterans Hardship

Charitable activities

1,250

750

Wales & West Utilities - Older not colder

Charitable activities

587,732

146,933

Aneurin Bevan Health Board

Charitable activities

123,728

61,033

Electrical Safety First

Charitable activities

16,271

-

NEA Warm Homes

Charitable activities

60,000

-

Safe and Warm Homes

Charitable activities

10,886

-

2,612,297

2,080,475

5.	Other income

2025

2024

£

£

Other Income

100,598

70,420