REGISTERED COMPANY NUMBER: 06541083 (England and Wales)

REGISTERED CHARITY NUMBER: 1123615

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026

FOR

CWM TAF MORGANNWG MIND

Page

Report of the Trustees

1

to

7

Independent Examiner's Report

8

Statement of Financial Activities

9

Balance Sheet

10

to

11

Cash Flow Statement

12

Notes to the Cash Flow Statement

13

Notes to the Financial Statements

14

to

29

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 2026. 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 Trustee Report includes the Report of the Directors' as required by company law.

OBJECTIVES AND ACTIVITIES

Objectives and aims

Our vision

We won't give up until everyone experiencing a mental health problem gets both support and respect.

Our mission

To provide quality services across the Cwm Taf Morgannwg region that promote positive mental health and wellbeing.

Our values:

- We provide hope beyond surviving.

- We have compassion for ourselves and others.

- We are passionate about building resilience and wellbeing

We are:

Open - We reach out to anyone who needs us.

Together - We're stronger in partnerships.

Responsive - We listen, we act.

Independent - We speak out fearlessly.

Unstoppable - We never give up.

Strategic priorities

1. More adults get the support they need as quickly and seamlessly as possible, with a focus on ensuring our services meet the diverse needs of our population and is as preventative as possible.

2. Develop our services so that more children and young people are better equipped and supported to manage their own mental health and wellbeing.

3. Increase our partnership work to help to alleviate some of the key issues that continually contribute to poor mental health, such as poverty, financial pressure, housing or homelessness and work.

4. Lived experience is embedded through our organisation to ensure our services keep pace with the help people require and so we can support wider system change.

As part of this, we are continuing our development of a Stepped Support Service that allows us to speed-up and reduce barriers to support, as well as provide greater prevention of mental health escalating. By Stepped Support we mean a range of different services that can support people from low to severe mental health and emotional wellbeing challenges.

Service User Involvement

Cwm Taf Morgannwg Mind seek to involve service users in a number of ways:

- Through Service User Representation at Trustee Board Level

- Through employing people with direct lived experience

- Through consistently evaluating peoples experience of using our services

- Through co-producing our strategy

- Through info@ctmmind.org.uk

- Through presenting topical issues through social media and communicating openly

- Through - http:/www.ctmmind.org.uk/get-involved/ offering wider involvement in Mind

We evaluate the views of people using our services throughout the year and analyse this data to strive for improvement, we know that a range of service user involvement approaches are required in order to truly engage and empower those using our services.

We also remain committed to the work of Mind Cymru and its Policy and Public Affairs role, getting local peoples' voices into Welsh Government Consultations which is a priority for us and the Mind Network in Wales.

Summary of Activities:

Mind Supported Self Help

A Mind National product, a programme of self-directed support for people experiencing moderate mental health conditions such as anxiety and depression. Co-located in Primary Care Services, working alongside GP Practices and Primary Care Cluster Teams by providing patients with mental health interventions in the 'watchful waiting' period. This service is provided to adults, as well as children with low school attendance.

Talking Treatments

Also known as counselling or psychotherapy, the charity is a registered member of the British Association for Counselling and Psychotherapy (BACP) and provides counselling services in partnership with the NHS and Local Primary Care Mental Health Support Services. We're also funded by the Armed Forces Covenant Fund to provide counselling and money advice to veterans.

Trauma-Informed Counselling

Providing trauma-informed counselling services to vulnerable people to people who are homeless or in temporary

accommodation

Independent Advocacy

Providing independent financial advocacy services to people receiving care and treatment under the Mental Health Act within the Cwm Taf Morgannwg University Health Board region, including Royal Glamorgan Hospital and other local health and inpatient services - empowering people to use their voice and defend their rights and responsibilities. Independent community advocacy for people with mental health problems struggling to have their voice heard by statutory services, e.g., social services. Supporting veterans and individuals receiving inpatient mental health care with financial difficulties.

Carers Services

Working with carers who are exposed to loneliness and isolation, delivering a range of wellbeing initiatives to create a sense of belonging in communities, mattering as individuals and speaking out on people's behalf when their rights are not upheld.

Public benefit

We have complied with the duty in section 17 of the 2011 Charities Act to have due regard to guidance published by the Commission in respect of our duty to provide public benefit.

Volunteers

We have two volunteer roles which include board volunteers and Student Counsellors.

Long term objectives

The charity co-produced it's 2025-28 strategy during 2024-25 and four strategy priorities were agreed. These are shown above.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

Summary of Achievements and Performance

The charity has worked extremely hard over the past year to reach as many people as possible, as we know our services make a significant difference to people's lives. We've also focussed on increasing our income, extending our support and enhancing our governance and corporate functions.

In addition, we consulted with hundreds of people and professionals across the region in developing a new, 3-year strategy for 2025-28. This strategy will provide clear direction and focus for the organisation and exciting service development opportunities.

In developing the strategy, we have increased and deepened our partnerships and this will help provide more holistic support to help reduce some of the issues that contribute to poor mental health, such as financial challenges, housing, education and employment/unemployment.

How We Measure Success

Cwm Taf Morgannwg Mind apply a variety of different measures across our range of services to demonstrate successful outcomes delivered by our service, we apply the Mind Outcomes Toolkit which allows us to report on our impact to commissioners and grant funders. We have developed our 'Theory of Change' methodology, enhanced resources, centralised data processes, developed policy and continue to monitor and evaluate our effectiveness.

FINANCIAL REVIEW

Principal funding sources

We would like to thank Cwm Taf Morgannwg University Health Board, Merthyr Tydfil County Borough Council, Rhondda Cynon Taf County Borough Council, Armed Forces Covenant Fund, Henry Smith, Garfield Western Foundation, Moondance Foundation, The National Lottery and Mind National for their continued investment in our services.

Reserves policy

Our Free Reserves shown in our 2025-2026 accounts are £717,155 which is above the agreed targeted reserves policy of £244,968 but is considered a prudent level of reserves given the current economic environment.

The Trustees have identified the charity's needs, key risks and have identified key elements to mitigate and/or manage those risks, as follows:

1. Financial Resilience - investing reserves wisely in property and the development of a viable social enterprise

2. Reliance on a concentrated supplier base for contracts

3. Reliance upon the application of reserves to maintain financial capacity

Financial Resilience

The charity's CEO and leadership team work with the board to consider how to enhance our financial resilience. This includes how we can enhance our systems and processes to reduce risks and where we can save money, gain new income and diversify our income.

FUTURE PLANS

We are taking forward plans to sustainably deliver our strategy and have so far gained funding to develop steps 1-3 of our Stepped Support Service, which includes Emotional Listening and Support and Single Session Therapy.

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.

Cwm Taf Morgannwg Mind's governing documents are its Memorandum and Articles of Association (amended 23rd October 2015). The Organisation has been incorporated since 1st July 2008.

Recruitment and appointment of new trustees

All applications have to be returned to the Board Secretariat by post and are invited in for formal discussions to get to know the charity and their roles and responsibilities, these discussions are led by the Charity Chairman. Depending on skill, knowledge, experience and suitability, they will be interviewed by the Trustee Board, or its delegated deputies, as part of the appointment process. The Chief Executive Officer will arrange a meeting with the newly appointed trustees to arrange an induction and provide insight.

Organisational structure

Cwm Taf Morgannwg Mind have a Trustee Board who meet quarterly and are responsible for overall charity governance. At present, the Board has several professional members from a variety of backgrounds relevant to the charity as well as other Trustees with skills that are invaluable to the Organisation. The Trustee Board may develop sub-committees to lead specific organisational developments in line with its duties under the Mind Quality Mark, a quality framework endorsed by the Charity Commission in England and Wales.

The Board delegate strategic management to the CEO who is accountable for delivering on our vision, mission values and goals. The CEO maintains strategic relationships with our commissioners or 'purchasers of services'.

The CEO manages and provides leadership to the Strategic Leadership and Management Group (SLMG), with support and supervision in line with Mind Quality Management (MQM) and organisational policy.

Induction and training of new trustees

Trustees are already familiar with the practical work of the charity and are encouraged to spend time within the Organisation. Additionally, new trustees are invited and encouraged to attend a series of short informal training sessions to familiarise themselves with the charity and the context within which it operates, these will be carried out within the organisation.These are jointly led by the Chair and CEO of the charity and cover:

- The obligations of Trustees

- The main documents which set out the operational framework for the charity including the memorandum and

Articles of Association and the current strategy.

- Resourcing and the current financial position as set out in the latest published accounts.

- Future plans and objectives

In addition, the Trustee members are offered a structured learning and development programme.

The Charity Commission publication "The Essential Trustee" is distributed to all the new trustees along with the latest financial statements, and minutes of the three previous Trustee Board meetings.

Cwm Taf Morgannwg Mind have produced an induction programme, which is constantly updated and implemented.

Organisational governance processes are followed inline with the Charity Commission and the Mind Quality Mark standards.

Key management remuneration

The charity sets its own pay structures using market intelligence, cost of living rises are determined by the Board of Trustees in line with the charities affordability and scoping of the public and charity sectors remuneration benchmarks.

Wider network

Our affiliation to Mind and working in collaboration with the Mind Network means that we are strategically aligned to the national priorities in Mind and therefore work to achieve a sustainable network, for which we play a key role at national and local level.

Related parties

Cwm Taf Morgannwg Mind is affiliated to Mind (The National Mental Health Charity) via a federated charity structure. Cwm Taf Morgannwg Mind has formally contracted with Mind via the Federation Agreement which specifies its formal relationship.

The charity has close relationships with the following organisations:

Related parties - Membership.

The charity has close relationships and is a member of the following organisations:

1. Wales Council for Voluntary Action (WCVA)

2. Bridgend Association of Voluntary Organisations (BAVO)

3. RCT Interlink

4. Voluntary Action Merthyr Tydfil (VAMT)

5. Welsh Government

Public Sector Commissioner

- Cwm Taf Morgannwg University Health Board

- Rhondda GP Cluster

Partner Organisations

- Mind Cymru - The Voice of the Mind Network in Wales

- Local Minds across Wales and England

- Cynon Taf Housing Group

- Citizens Advice covering RCT, Merthyr Tyfil and Bridgend counties

Funders (Grants)

- Henry Smith

- Armed Forces Covenant Fund

- Wales & West Utilities

- Moondance Foundation

- Garfield Weston Foundation

- Individual donors, sponsors and fundraisers.

- The National Lottery Community Fund

The organisation is a member of the Cwm Taf 3rd Sector Mental Health Forum and has representation on various sub-groups and many community groups including:

- One Mind in Wales

- Mental Health Partnership Board

- Cwm Taf Morgannwg Regional Partnership Board

Risk management

The trustees apply a risk management framework which will comprise an annual review of the risks the charity may face, and the establishment of systems and procedures to mitigate risks identified.

To implement procedures designed to minimise any potential impact to the charity should those risks arise, several policies have been introduced and adopted by the board of trustees which are focused on the Organisational Structure and risks associated therein.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

06541083 (England and Wales)

Registered Charity number

1123615

Registered office

88 High Street

Merthyr Tydfil

CF47 8UG

Trustees

Councillor Clive T Jones - Chair

Mr Gerwyn Butler - Treasurer - resigned 22nd September 2025

Ms Lisa M Thomas - resigned 23rd June 2025

Ms Joanna Markham

Mr Benjamin H Trewartha

Mr David Price

Ms Lynnette Thomas

Mrs Helen Whitfield-Williams

Mr Ian John Diment

Mrs Helen Anne Smith

Consultants

Simon Lambert (HR)

Charity CEO and day-to-day management

Mr Kieran Harris

Independent Examiner

R.I. Knoyle ACA FCCA

Baker Knoyle Chartered Accountants

Orbit Business Centre

Merthyr Tydfil

CF48 1DL

Bankers

Barclays Bank Plc

47 High Street

Merthyr Tydifl

CF47 8DL

Approved by order of the board of trustees on 17 September 2026 and signed on its behalf by:

C T Jones - Trustee

Independent examiner's report to the trustees of Cwm Taf Morgannwg Mind ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2026.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1.	accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

2.	the accounts do not accord with those records; or

3.	the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4.

the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

R.I. Knoyle ACA FCCA

Baker Knoyle Chartered Accountants

Orbit Business Centre

Merthyr Tydfil

CF48 1DL

17 September 2026

2026

2025

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

11,566

39,354

50,920

55,770

Charitable activities

5

Recovery Services

81,853

179,405

261,258

372,957

Enterprise

236,310

122,893

359,203

357,344

Other trading activities

3

6,926

-

6,926

4,970

Investment income

4

16,396

-

16,396

18,237

Total

353,051

341,652

694,703

809,278

EXPENDITURE ON

Charitable activities

6

Core Administration

106,371

-

106,371

180,213

Recovery Services

76,160

220,673

296,833

349,496

Housing Support Services

-

-

-

54,670

Enterprise

225,400

123,407

348,807

339,353

Total

407,931

344,080

752,011

923,732

NET INCOME/(EXPENDITURE)

(54,880

)

(2,428

)

(57,308

)

(114,454

)

Transfers between funds

18

137,576

(137,576

)

-

-

Net movement in funds

82,696

(140,004

)

(57,308

)

(114,454

)

RECONCILIATION OF FUNDS

Total funds brought forward

833,877

161,523

995,400

1,109,854

TOTAL FUNDS CARRIED FORWARD

916,573

21,519

938,092

995,400

2026

2025

Notes

£

£

FIXED ASSETS

Tangible assets

13

943

1,179

CURRENT ASSETS

Debtors

14

52,848

52,884

Cash at bank

971,855

1,038,390

1,024,703

1,091,274

CREDITORS

Amounts falling due within one year

15

(87,554

)

(97,053

)

NET CURRENT ASSETS

937,149

994,221

TOTAL ASSETS LESS CURRENT LIABILITIES

938,092

995,400

NET ASSETS

938,092

995,400

FUNDS

18

Unrestricted funds

916,573

833,877

Restricted funds

21,519

161,523

TOTAL FUNDS

938,092

995,400

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)	ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

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 17 September 2026 and were signed on its behalf by:

C T Jones - Trustee

Cash flows from operating activities

Cash generated from operations

1

(82,931

)

21,358

Net cash (used in)/provided by operating activities

(82,931

)

21,358

Cash flows from investing activities

Interest received

16,396

18,237

Net cash provided by investing activities

16,396

18,237

Change in cash and cash equivalents in the reporting period

(66,535

)

39,595

Cash and cash equivalents at the beginning of the reporting period

1,038,390

998,795

Cash and cash equivalents at the end of the reporting period

971,855

1,038,390

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

2026

2025

£

£

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

(57,308

)

(114,454

)

Adjustments for:

Depreciation charges

236

295

Interest received

(16,396

)

(18,237

)

Decrease in debtors

36

114,678

(Decrease)/increase in creditors

(9,499

)

39,076

Net cash (used in)/provided by operations

(82,931

)

21,358

2.	ANALYSIS OF CHANGES IN NET FUNDS

At 1/4/25

Cash flow

At 31/3/26

£

£

£

Net cash

Cash at bank

1,038,390

(66,535

)

971,855

1,038,390

(66,535

)

971,855

Total

1,038,390

(66,535

)

971,855

1.	ACCOUNTING POLICIES

Organizational status

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 organisation is a company limited by guarantee and a registered charity, both registered in England & Wales.The directors are the trustees and are set out on page 9, they form a board of trustees which sets the strategic direction of the charity and monitors the performance of the organisation against its goals. The aims and objectives and rules for governance are set out in the charitable company's Memorandum and Articles of Association.

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.

The following specific policies are applied:

Voluntary income received by way of grants, gifts or donation is included in full on receipt unless it is subject to a condition when it is treated as deferred income.

Deferred income. Income or grants received in advance are held as deferred income and carried forward to future accounting periods to be released when the defined purposes of the work or project have been completed, approved or certified.

Gifts in kind are included in the income and expenditure account where they are applied in carrying out charitable activities, where the company would otherwise have to purchase the donated facility and the benefit is both quantifiable and material. The quantifiable benefit is shown as both incoming and expended resources within the appropriate funds. Where the gift is an asset it is treated as income and taken to stock or fixed assets as appropriate. The value of services provided by volunteers is not quantified.

Investment income is included when receivable.

Trading income is recognised when earned.

Government Grant Income comprises specific project related direct support. See note 2, Incoming Resources, for amounts.

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.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes the costs that can be attributed directly to those activities and those costs of an indirect nature necessary to support them.

All expenditure is allocated between the 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 between categories on a basis that fairly reflects their usage.

Charitable activities

During the year the charity revised its charitable activities to include the four main service functions together with Core Administration. The four main service functions being Recovery Service, Housing Support Services, Primary Care Prevention and Enterprise. Prior year SoFA activities have also been revised to reflect the change.

Tangible fixed assets

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

Plant and machinery

-

20% on reducing balance and 15% on reducing balance

Motor vehicles

-

25% on cost

Tangible Fixed Assets are included in the balance sheet at historic cost less accumulated depreciation. Grant receipts which fund fixed asset acquisitions are taken to restricted funds and the appropriate depreciation charge is made against those funds over the expected useful life of the asset.

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 those unrestricted funds set aside by the Board for a specific purpose.

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

Pension costs

Pension costs are contributions made by the charitable company to both employees own personal pension schemes together with contributions made to the employees government work place pension scheme.

Leased assets

Fixed assets acquired under finance leases are included in the balance sheet at historic cost less accumulated depreciation. The present value of future rentals is shown as a liability. Interest payable in each period is charged as an expended resource in proportion to the amount outstanding under the lease. operating lease rentals are charged as expended resources as incurred.

Ex-Gratia Termination Payment

Termination benefits are payable when employment is terminated by the Charity before the normal retirement date, or whenever an employee accepts voluntary redundancy in exchange for these benefits. The Charity recognises termination benefits when it is demonstrably committed to either

(i) terminating the employment of current employees according to a detailed formal plan without possibility of withdrawal or (ii) providing termination benefits as a result of an offer made to encourage voluntary redundancy.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.

Going concern

In common with many other similar organisations, we find ourselves in the situation where some grant-funded projects and guaranteed contract-terms are due to end within our next financial year.

Our principal commissioned services has been confirmed until 31 December pending a review of third sector commissioning arrangements. The trustees are confident that sufficient funding sources will be agreed to allow the organisation to move forward in a similar manner to recent years, and have considered the options for the organisation in the medium term.

The trustees feel it appropriate to prepare the accounts on a going concern basis.

2.	DONATIONS AND LEGACIES

2026

2025

£

£

Donations

11,247

10,036

Gift aid

321

134

Grants

39,352

45,600

50,920

55,770

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

2026

2025

£

£

Moondance Foundation

25,842

-

Henry Smith

13,510

25,600

Garfield Western

-

20,000

39,352

45,600

3.	OTHER TRADING ACTIVITIES

2026

2025

£

£

Fundraising events

6,926

4,970

4.	INVESTMENT INCOME

2026

2025

£

£

Deposit account interest

16,396

18,237

5.	INCOME FROM CHARITABLE ACTIVITIES

2026

2025

Activity

£

£

Charitable activity income

Recovery Services

261,258

372,957

Charitable activity income

Enterprise

359,203

357,344

620,461

730,301

6.	CHARITABLE ACTIVITIES COSTS

Support

Direct

costs (see

Costs

note 7)

Totals

£

£

£

Core Administration

80,859

25,512

106,371

Recovery Services

262,742

34,091

296,833

Enterprise

308,748

40,059

348,807

652,349

99,662

752,011

7.	SUPPORT COSTS

Human

Governance

Management

Finance

resources

costs

Totals

£

£

£

£

£

Core Administration

13,372

4,458

4,458

3,224

25,512

Recovery Services

19,725

6,575

6,575

1,216

34,091

Enterprise

23,179

7,726

7,726

1,428

40,059

56,276

18,759

18,759

5,868

99,662

8.	NET INCOME/(EXPENDITURE)

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

2026

2025

£

£

Depreciation - owned assets

236

295

Pension contributions

26,888

29,582

Accountancy Fees

2,400

3,800

Other Payroll & Accountancy Services

2,208

2,292

Redundancy Payment

-

8,599

Independent Examiners Fees

1,260

1,200

9.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2026 nor for the year ended 31 March 2025.

Trustees' expenses

One trustee received expense payments totalling £77 (2025: £151) for the year. These payments were reimbursement of travelling expenses.

10.	STAFF COSTS

2026

2025

£

£

Wages and salaries

518,614

619,123

Other pension costs

26,888

29,582

545,502

648,705

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

2026

2025

Full time equivalent

18

21

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

2026

2025

£60,001 - £70,000

1

1

Average employee head count for the year was 18.

Included within wages and salaries is Employers' NI contributions of £50,029 (2025:£42,376).

Included within wages and salaries is £Nil (2025: £8,599) for redundancy paid during the year.

The key management of the charity comprises the Chief Executive Officer, including the Interim Executive Officers.The total benefits of the the key management personnel of the charity was £76,375 (2025: £72,999).

11.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

funds

funds

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

10,092

45,678

55,770

Charitable activities

Recovery Services

164,202

208,755

372,957

Enterprise

236,791

120,553

357,344

Other trading activities

4,970

-

4,970

Investment income

18,237

-

18,237

Total

434,292

374,986

809,278

EXPENDITURE ON