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2023-03-31-accounts

Page
Trustees report 1-19
Statement
oftrustees		 responsibilities 20
Independent
auditor's		 report 21-23
Statement
offinancial		 activities 24-25
Balance sheet 26 - 27
Statement ofcash flows 28
Notes to the financial statements 29-53

Reference and administrative and administrative details
Charity name Children
in Wales —Plant		 Yng Nghymru
Charity number 1020313
Company number 2805996
VAT registration number 850934516
Registered office 21 Windsor Place
Cardiff
CF103BY
Trustees Fateha Ahmed, EYST
Suman
Bhogal (Treasurer)
Cheme Bi)a, Faith in Families
Sarah Crawley, Bamardo's Wales (Cymru)
Kyle Eldddge - appointed 12 October 2022
Dr Nia John, Royal College of Paediatrics and Child Health
Wales
Deborah Jones, Voices From Care
Helen Jones (Chair)
Liam Maguire - appointed 12 October 2022
Jacqueline
Murphy, TGP Cymru
Dr Nigel Thomas
Bethan Webber, Home-Start Cymru
Jennifer Williams,
Conwy		 County Borough Council
Dr David Williams
Secretary Hugh Russell - appointed 3July 2023
Key Management Personnel Hugh Russell - Chief Executive
Sean O' Neil - Policy Director
Fiona Probert -Administration Manager
Caroline Taylor - Administration Manager
Paula Timms - Business Development Director
Stephanie
Garbutt - Finance		 and Operations Director
Sarah James - Policy information and Communications Oificer
Auditors Azets Audit Services
Ty Derw Lime Tree Court
Cardiff Gate Business Park
Cardiff
CF23 8AB
'Bankers HSBC
75 Llandennis
Road
Cardiff
CF236EE
CAF Bank Ltd
25 Kings Hill Avenue
-18-

Kings Hill
West Mailing
MEf94TA
Solicitors Hugh James
Two Central Sqaure
Cardiff
CF101FS
Geldards
4 Capital Quarter
Tyndall Street
Cardiff
CF104BZ
Darwin
Gray
9Cathedral Road
Pontcanna
Cardiff
CF11 9HA
Investment Advisors RBC Brewin Doplhin
2 Central Square
Cardiff
CF101FS

As restated As restated
Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2023 2023 2023 2022 2022 2022
Notes 5 6 6 6
Income and end en f
Donations and
legacies 4,152 5,058 9,210 18,435 18,435
Charitable
activities		 321,835 1,210,340 1,532,175 325,825 987,659 1,313,484
Investments 16,399 16,399 13,051 13,051
Other income 40,000 40,000
Total income 382,386 1,215,398 1,597,784 357,311 987,659 1,344,970
Exgaudituragn;
Charitable
activities		 8 406,252 1,175,776 1,582,028 437,382 1,035,024 1,472,406
Other 14,325 14,325
Total expenditure 420,577 1,175,776 1,596,353 437,382 1,035,024 1,472,406
Net gains/(losses) on
investments 14 (28,440) (28,440) 19,415 19,415
Net (outgoing)/incoming
resources before
transfers (66,631) 39,622 (27,009) (60,656) (47,365) (108,021)
Gross transfers
between funds 9,192 (9,192) 469 (469)
Net (outgoing)/incoming
resources (57,439) 30,430 (27,009) (60,187) (47,834) (108,021)
Other recognised gains and losses
Actuarial
gain on
defined benefit
pension schemes 2,074,000 2,074,000 920,000 920,000
Net movement in funds 2,016,561 30,430 2,046,991 859,813 (47,834) 811,979
Fund balances at 1 April
2022 (410,254) 27,988 (382,266) (1,270,067) 75,822 (1,194,245)
Fund balances at 31
March 2023 1,606,307 58,418 1,664,725 (410,254) 27,988 (382,266)

2023 2022
As restated
Notes 6
Fixed assets
Tangible assets 15 6,825 10,042
Investments 16 371,621 401,237
378,446 411,279
Current assets
Debtors 17 113,667 113,608
Cash at bank and in hand 363,408 287,272
477,075 400,880
Creditors: amounts falling due within
one year 18 (144,562) (109,286)
Net current assets 332,493 291,594
Total assets less current liabilities 710,939 702,873
Creditors: amounts falling due after
more than one year 20 (41,214) (57,139)
Net assets excluding pension surplus/(deficit) 669,725 645,734
De6ned benefit pension surplus/
(deficit) 22 995,000 (1,028,000)
Net assets/(liabilities) 1,664,725 (382,266)
Income funds
Restricted funds 23 58,418 27,988
llazatggteU9006
General unrestricted funds 611,307 617,746
Pension reserve 995,000 (1,028,000)
1,606,307 (410,254)
1,664,725 (382,266)

2023 2022
Notes 8
Cash flows from operating activities
Cash generated
from operations		 28 62,678 4,810
Investing activities
Purchase oftangible fixed assets (7,993)
Purchase of investinents (141,628) (51,868)
Proceeds on disposal of investments 142,804 54,549
Investment income received 16,399 13,051
Net cash generated
from investing
activities 17,575 7,739
Financing activities
Repayment of borrowings (4,117) (840)
Net cash used in financing activities (4,117) (840)
Net Increase
In cash and cash equivalents		 76,136 11,709
Cash and cash equivalents at beginning ofyear 287,272 275,563
Cash and cash equivalents at end of year 363,408 287,272

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2023 2022
2 8
Welsh Government- Core grant 744,700 680,000
Welsh Government - Children's Act 40,566 97,358
Welsh Government- Parent Participation 31,047
Voices from Care 57,034 67,224
Welsh Government- Price of Pupil Poverty Programme 69,175 63,836
WCVA 3,501
The Young Foundation 8,000
British Youth Council 10,000
Welsh Government- Young Carem 6,118 14,000
Welsh Government - SSSG 10,000
Welsh Government- Additional Learning Needs Grant 179,164
Various Placement Grants I Kickstart Scheme 18,423 3,386
Welsh Government- Third Sector Voter Registration Support Grant 9,000 9,000
National
Museum		 Cardiif 2,500
Welsh Government - NYSG 13,500
Welsh Government - Informal use ofWelsh 24,034
Equality and Human Rights Commission 3,000
WCVA- Volunteering Wales 19,987
Other 19,586
1,229,762 870,459
5 Investments
Unrestricted Unrestricted
funds funds
2023 2022
5
income from listed investments 15,768 12,736
Interest receivable 631 315
16,399 13,051
7 Other income
Unrestricted Total
funds
2023 2022
5 5
Other income 40,000
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Unrestricted Unrestricted Total
funds
2023 2022
6 2
Legal &professional fees 14,325
Support costs
Support Governance 2023 Support Governance 2022
costs costs costs costs
8 6 6 6
Depreciation 3,217 3,217 3,176 3,176
Insurance 7,458 7,458 5,458 5,458
Repairs &renewals 4,569 4,569 7,162 7,162
Travel &subsistence 26,766 26,766 15,630 15,630
Communication 52,915 52,915 78,127 78,127
Rent 43,117 43,117 46,770 46,770
Other premises costs 32,094 32,094 23,862 23,862
Bank charges/bad debts 26,818 26,818 36,293 36,293
Irrecoverable
VAT		 19,315 19,315 28,896 28,896
Audit fees 10,755 10,755 13,809 13,809
Legal and professional 3,213 3,213 3,665 3,665
Trustees expenses 26 26 134 134
216,269 13,994 230,263 245,374 17,608 262,982
Analysed
between
Charitable
activities		 216,269 13,994 230,263 245,374 17,608 262,982
Net movement
in funds		 Net movement
in funds		 2023 2022
8
Net movement in funds is stated after charging/(crediting)
Fees payable to the company's auditor for the audit ofthe company's financial
statements 10,755 13,809
Depreciation ofowned tangible fixed assets 3,217 3,176

2023 2022
Number Number
Employees 29 26
Employment costs As restated
2023 2022
E 6
Wages and salaries 777,760 692,780
Social security costs 73,256 64,729
Other pension costs 216,517 349,949
1,067,533 1,107,458

15 Tangible fixed assets Tangible fixed assets
Office Furnitum Computers Total
equipment
6 6 8 6
Cost
At 1 April 2022 10,297 924 7,384 18,605
At 31 March 2023 10,297 924 7,384 18,605
Depreciation and impairment
At 1 April 2022 2,725 554 5,284 8,563
Depreciation charged in the year 2,528 139 550 3,217
At 31 March 2023 5,253 693 5,834 11,780
Carrying amount
At 31 March 2023 5,044 231 1,550 6,825
At 31 March 2022 7,573 369 2,100 10,042
16 Fixed asset investments
Listed Cash in Total
investments portfolio
Cost or valuation
At 1 April 2022 399,390 1,847 401,237
Additions 141,628 141,628
Valuation changes (28,440) (28,440)
Cash movement 4,792 4,792
Disposals (147,596) (147,596)
At 31 March 2023 364,982 6,639 371,621
Carrying
amount
At 31 March 2023 364,982 6,639 371,621
At 31 March 2022 399,390 1,847 401,237
17 Debtors
2023 2022
Amounts falling due within one year: 6 6
Trade debtors 95,923 86,563
Prepayments and accrued income 17,744 27,045
113,667 113,608

18 Creditors: amounts Creditors: amounts falling due falling due within one year As restated
2023 2022
Notes 6 6
Borrowings 5,906 4,607
Other taxation and social security 9,884 5,859
Deferred income 19 38,131 12,347
Trade creditors 53,121 38,120
Other creditors 14,302 10,509
Accruals 23,238 37,844
144,582 109,286
19 Deferred income
2023 2022
6 6
Adsing from government grants 977
Arising from membership, training and contract
income 38,131 11,370
38,131 12,347
Movements
in the year:
Balance brought forward 12,347 1,617
Income received 319,464 209.856
Income released (293,680) (199,126)
Balance carried forward 38,131 12,347
20 Creditors: amounts falling due after more than one year As restated
2023 2022
6
Borrowings 20,195 25,611
Other creditors 21,019 31,528
41,214 57,139

22 Retirement
benefit		 schemes (Continued)
Key assumptions
2023 2022
Discount rate 4.7 2.70
Expected rate ofincrease ofpensions in payment 2.7 3.00
Expected rate ofsalary increases 3.7 4.00
Mortality assumptions
The assumed
life expectations		 on retirement at age 65are:
2023 2022
Years Years
Retiring today
- Males 22.6 22.1
- Females 24.7 24.6
Retiring
in 20 years
- Males 23.2 23.2
- Females 25.8 26
Amounts
recognised		 in the profit and loss account:
2023 2022
2
Current service cost 215,000 285,000
Net interest on defined benefit liability/(asset) 26,000 36,000
Other costs and income 7,000 53,000
Total costs 248,000 374,000
Amounts
taken to other comprehensive		 income:
2023 2022
6 6
Actual return on scheme assets 95,000 (504,000)
Less: calculated
interest element		 147,000 101,000
Return on scheme assets excluding interest income 242,000 (403,000)
Actuarial changes
related to obligations		 (2,316,000) (517,000)

The
amounts		 included in the balance sheet adising from the charity's
obligations
in		 respect of defined benefit plans are as follows:
2023 2022
5
Present value of defined benefit obligations 4,455,000 6,421,000
Fair value ofplan assets (5,450,000) (5,393,000)
(Surplus)/deficit in scheme (995,000) 1,028,000
Movements
in		 the present value ofdefined benefit obligations:
2023
Liabilities at 1 April 2022 6,421,000
Current service cost 215,000
Past service cost 7,000
Benefits paid (76,000)
Contdibutions from scheme members 31,000
Actuarial
gains and losses		 (2,316,000)
Interest cost 173,000
At 31 March 2023 4,455,000
Movements
in the fair value of plan assets:
2023
f.
Fair value ofassets at 1 April 2022 5,393,000
Interest income 147,000
Return on plan assets (excluding amounts included in net interest) (242,000)
Benefits paid (76,000)
Contributions
by the employer		 197,000
Contributions
by scheme members		 31,000
At 31 March 2023 5,450,000

Retirement benefit schemes IContinued)
The fair value ofplan assets at the reporting period end was as follows:
2023 2022
6 6
Equity instruments 3,701,000 3,641,000
Debt instruments 1,183,000 1,256,000
Property 392,000 372,000
Cash 174,000 124,000
5,450,000 5,393,000

28 Cash generated
from		 operations operations 2023 2022
8 6
Surplus for the year (27,009) (108,021)
Adjustments
for:
Investment
income recognised		 in statement offinancial activities (16,399) (13,051)
Fair value gains and losses on investments 28,440 (19,415)
Depreciation
and impairment
oftangible fixed assets		 3,217 3,176
Difference between
pension charge and cash contributions		 51,000 117,000
Movements
in working		 capital:
(Increase)/decrease
in		 debtors (59) 6,668
(Decrease)/increase
in		 creditors (2,296) 7,723
Increase
in deferred
income		 25,784 10,730
Cash generated
from		 operations 62,678 4,810
29 Analysis ofchanges in net funds
At 1 April 2022 Cash ticwsAt 31Msmh 2023
K 6
Cash at bank and
in hand		 287,272 76,136 363,408
Loans falling due within one year (4,607) (1,299) (5,906)
Loans falling due after more than one year (25,611) 5,416 (20,195)
257,054 80,253 337,307

30 Custodian Funds - Edward Nicholl Trust (Continued)
Assets held at 31 March
2023 2022
6 6
Funds held in the trust bank account 25,372 49,595
Fair value ofthe investment portfolio by investment managers 1,415,087 1,518,288
Total assets 1,440,459 1,567,883

Changes to the balance sheet
At 31 March 2022
As previously AdJustment As
reported restated
6 6
Creditors due within one year
Other creditors (75,964) (10,509) (86,473)
Creditors due after one year
Other creditors (31,528) (31,528)
Net assets (340,229) (42,037) (362,266)
Capital funds
Restricted funds 120,544 (92,556) 27,988
Unrestricted
funds		 1,3 (460,773) 50,519 (410,254)
Total equity (340,229) (42,037) (382,266)

At 31 March 2022 31 March 2022
As previously Adjustment As
reported restated
2 K
Changes to the profit and loss account
Period ended 31 March 2022
As previously Adjustment As restated
reported
6 5
Income from:
Donations and legacies 18,435 18,435
Charitable activities 1,313,484 1,313,484
Investments 13,051 13,051
1,344,970 1,344,970
Expenditure on:
Charitable activities 1,2 1,313,369 159,037 1,472,406
(1,313,369) (159,037) (1,472,406)
Net gains on investments 19,415 19,415
Income/expenditure for the year 51,016 (159,037) (108,021)
Actuarial gain/(loss) on defined bene6t pension
scheme 2 803,000 117,000 920,000
Net movement in funds 854,016 (42,037) 811,979