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2024-03-31-accounts

REGISTERED COMPANY NUMBER: 2805996 (Wales) REGISTERED CHARITY NUMBER: 1020313

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

CHILDREN IN WALES - PLANT YNG NGHYMRU

Bevan Buckland LLP Chartered Accountants And Statutory Auditors Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA

CHILDREN IN WALES - PLANT YNG NGHYMRU

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

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**Report of the Trustees. ** 1 1
to23
Report of the Independent Auditors 24 24
to27
Statement of Financial Activities 28
Balance Sheet 29
Cash Flow Statement 30
Notes to the Cash Flow Statement 31
Notes to the Financial Statements 32 32
to48
Detailed Statement of Financial Activities 49 49
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CHILDREN IN WALES - PLANT YNG NGHYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

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

OBJECTIVES AND ACTIVITIES Objectives and alms

Children in Wales promotes, advocates and supports full implementation of the United Nations Convention on the Rights of the Child. It covers a wide range of issues including promoting effective early intervention services and improving the lives of vulnerable and disadvantaged children, young people and families in Wales and those who are discriminated against. It also promotes positive parenting, family support and good quality childcare. A particularly important part of the work involves an enhanced model of children and young people's participation across Wales so that their views are heard by government and policy makers. This programme of work is known as Cymru lfanc/Young Wales and also involves training for both children and young people and the workforce.

This year has marked the 30th anniversary of the organisation becoming a charity and a number of events have marked this milestone, providing the opportunity to not only celebrate achievements since the organisation's inception but to look forward to new plans to continue with our work to embed children's rights across Wales. Among the reflective elements of this work a book 'Pause Play, Fast Foward', drafted by young people, was published and printed and launched at an event at the Senedd, sponsored by Jane Dodds MS. This event provided opportunities for Members of the Senedd to re confirm their commitment to. the UNCRC.

Financial challenges continue to have a negative effect for many children, young people and families in Wales and our annual poverty survey this year also raised concerns about the effects of this on their mental health and well-being. Consequently, this has been a key focus of our work during the year.

Looking internally, to mitigate against high costs of office rental and services the organisation has taken the decision to move our office base to a shared facility and work has been undertaken this year to find an ideal location. We have continued to make savings around travel and subsistence costs through online working methods. We are mindful too of the effects of climate change, and the organisation continued to work to reduce its impact on the environment

Volunteering has substantially strengthened again this year for the organisation, with 200 young people on-boarded. This has helped to embed the voice of young people across a wide range of projects and themes. Two new projects, a Peer Research scheme and a partnership project with the Football Association of Wales, have helped to develop exciting new participatory working models which we hope to cascade to other organisations in Wales.

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OBJECTIVES AND ACTIVITIES Objectives and alms

Internal development work has continued through the year to help strengthen the organisation, for example:

These measures have allowed Children in Wales to continue its aim to improve the well-being outcomes of children, young people and families in Wales through the following strategic objectives:

Work to improve the lives of children and young people in Wales, especially those in need or marginalised was delivered through the following activities:

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OBJECTIVES AND ACTIVITIES Objectives and aims

Children in Wales reviews its aims, objectives and activities annually. This review looks at what has been achieved and the outcomes of the activity in the previous 12 months. The review also looks at the success of each key activity and the outcomes achieved. The review helps ensure that the aims, objectives and activities remain focussed on the stated purposes. In the furtherance of these aims, the Trustees of Children in Wales have complied with the duty in S4 of the Charities Act 2011 to have due regard to the Charity Commission's published general and sub-sector guidance concerning the operation of the Public Benefit requirement under the Act. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.

The first outcome is that more children and young people, especially those who may have more difficulty getting their views heard, will have the opportunity to have a voice to influence Welsh Government and other policy makers. The national model of children and young people's participation, 'Cymru lfanc/Young Wales' creates a platform through online, social media and a dedicated website as well as national and regional meetings, direct engagement with local authority Youth Forums, schools and third sector organisations that support groups of vulnerable children and young people to participate in policy and practice matters that affect them.

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OBJECTIVES AND ACTIVITIES Objectives and aims

The second outcome of the work of Children in Wales includes an active range of organisations and individuals linked together in a pr[o] active network resulting in improved policy and practice for the benefit of all children and young people in Wales. Equal access to Children in Wales' services is vital to successful outcomes.

Children and young people and members of the multi-disciplinary and cross sector children's workforce will:

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STRATEGIC REPORT

Achievements and performance

Using the framework of the UNCRC, in particular in increasing children and young people's participation, combating child poverty and supporting families, the main objectives for the year were as follows:

Objective 1: To inform and enable children and young people to participate effectively and have their views heard by Ministers and policy makers through 'Young Wales' - 'Cymru lfanc'

Outcome: Children and young people are enabled to understand and engage in influencing and developing policy and practice in accordance with the National Children and Young People's National Participation Standards for Wales for Wates. Children and young people are enabled to develop their knowledge and skills in relation to contributing to and influencing policy makers and practitioners. Children and young people are enabled to develop their knowledge, understanding and skills through engagement with Ministers and policymakers.

Objective met through:

Cymru lfanc/Young Wales is the national participation hub, working to provide information to enable and empower children and young people to participate effectively and have their views heard by Welsh Government policy, in order to inform policy and practice development.

Children and young people took part in surveys looking at issues relating to child and family poverty

The views of children and young people of all ages and from across Wales continued to be sought throughout the year, and formed the basis for 16 consultation responses to Welsh Government. Examples include:

All Wales Travel Behaviour Code: The Welsh Government commissioned Children in Wales to gather the voices of young people's views on the All Wales Travel Behaviour Code. Twelve focus group sessions were delivered across six school settings with a total of 69 children and young people between the ages of 5 and 16 taking part. Thirty six recommendations were made to Welsh Government as part of this work and overall the children and young people felt that there was a lack of awareness of the Code, that they needed to be updated and that the Code should be accessible for them. Children in Wales will be developing the Code with Welsh Government through a co-production model in 2024 to 2025 as a result of the recommendation from this initial consultation.

Children's Rights Impact Assessment (CRIA) and pupil engagement - Independent Schools: The Welsh Government commissioned Children in Wales to gather young people's views on The Independent School Standards (Wales) Regulations 2023, and gather feedback and insights from pupils on all aspects of the Regulations which included all 7 Standards. Three focus group sessions were held across three different independent school settings. Ten recommendations were made to Welsh Government as part of this work and overall young people wanted their schools to be safe, supportive and inclusive environments.

Through Cymru lfanc I Young Wales, children. and young people were provided with the opportunity to meet with Ministers, lead officials and policy makers at Welsh Government. For example, young people met with Ministers at the National Youth Stakeholders Group (Mental Health and Wellbeing), through the WG's Budget Improvement Plan Group and the Young Carers Group where young people participated in a panel discussion with a group of professionals including Ministers, MSs, local government representatives, trade unions, Social Care Wales and Carers Wales. This year at their annual conference event children were enabled to discuss matters with a wide range of lead officials and with the Minister for Social Justice and the Deputy Minister for Social Services. Further opportunities were provided during the year for groups of children to meet with the Minister for Finance and Local Government, the Chair of the Finance Committee, and the Chair of the Children, Young People and Education Committee.

Throughout the year, work continued to develop the Cymru lfanc - Young Wales brand, including via new media such as films available on the website. Bi-monthly e-bulletins were distributed and posts were regularly shared on the Young Wales Cymru lfanc Twitter and lnstagram feeds.

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During this year, volunteering has more than doubled within the Young Wales Project, with the objective of broadening connections with a wide demographic of young people and across all the regions of Wales. 200 young volunteers were on-boarded. Volunteers are provided with a comprehensive induction, including an opportunity to take part in an accredited learning and development pathway and can join the Young Wales Project Board, or different special interest groups for example. Meetings took place at residentials, standalone sessions and online.

Growing from an idea put forward by one of our young volunteers, a group of young people created a celebratory book, 'Pause, Play, Fast Forward: the journey of Children in Wales'. The book sets out the story of children's rights in Wales and also includes contributions from past Chief Executives, the Children's Commissioner and the Deputy Minister for Social Services. The book was launched at an event at the Senedd sponsored by Jane Dodds MS.

Events for young people:

On Saturday 18th November 2023, Children in Wales celebrated World Children's Day via our annual Young Wales Festival at Swansea University, Bay Campus. The event offered over 120 young people the opportunity to engage with crucial decision makers, including the Minister for Social Justice, the Deputy Minister for Social Services and Senior Policy Managers for the Welsh Government

Four 3 day residential events for young people were held in different regions throughout the year. Each event provided accredited training sessions for the young people, opportunities to work with government officials to provide their views on various consultations and allowed them to learn new skills.

Objective 2: To enhance the connections, engagement and knowledge of the cross sector children, young people and family support workforce in respect of:

Outcome: the children and young people's cross sector workforce will be more informed, better connected, more engaged and better equipped to contribute effectively to supporting the delivery of national priorities including the participation of children and young people

Objective met through:

Events and training sessions 2023-2024

A number of in-person, online and hybrid events and training sessions was held during the year for the children and families workforce and other stakeholders. These events included:

Fast-Forward: The Story of Children in Wales

Briefing services

Children in Wales produces a number of briefings and newsletters for members and networks.

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The a-briefing is circulated fortnightly and keeps our members up-to-date with the latest policy developments and news across the sector. The Young Wales newsletter was distributed bi-monthly with the latest news and information for young people and participation workers.

Social media

Children in Wales uses Twitter, linkedln and Facebook to promote its activities and resources, as well as new policy and documents using our accounts @ChildreninWales and @plantyngnghymru.

Young Wales also has a separate Twitter account, @YoungWalesCIW and information is also promoted through lnstagram@YoungWalesCIW.

Information Support

Children in Wales staff continued to provide information and signposting for professionals and members of the charity; responding to queries by phone, email; through network meetings and through our training service. A wide range of issues were covered such as navigating resources, accessing information pertaining to local/national services, advice around safeguarding procedures and much more.

Children in Wales and 'Young Wales' websites

The website continues to be developed with more content being added regularly. The website is a key resource and gateway to Children in Wales' policy and other information, as well as news from the sector. It is updated weekly with policy information, resources and news.

Part of the website features an integrated learning management system (LMS) showcasing the organisation's training programme and webinar series enabling automated booking and payment systems. The website also provides an area accessed by members to provide additional information and resources.

The Parents Connect Wales Hub was created and added to the website in • March. The Hub focuses on empowering the voices of parents and carers to promote children's rights and features videos, stories and support for parents and professionals who work with parents.

Presentations, workshops, contributions and information provided at conferences and events

This year, Children in Wales' staff have participated in a range of activities facilitated by external bodies, such as research, dialogue and online events, which contribute to our key representative function as an umbrella organisation and our national role in policy and strategic development.

Publications

This year Children in Wales produced a number of publications, including:

Public information

During the year, Children in Wales continued work to raise public and professional awareness of both the problems affecting children, young people and families in Wales and ways that their lives can be improved. One of the ways in which we carried out this work was through our quarterly magazine, which is published and available online, in the Members' section of our website, for all members to download. Each magazine is themed and combines information about policy development, research and contributions from member organisations. Four editions of the Children in Wales members' magazine were published, with two being shared on the website (open to all) as a celebration of Children in Wales' 30th anniversary.

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The themes for 2023/24 were as follows:

Influencing and Advocacy

CIW leads and works with a broad range of stakeholders to identify and pursue opportunities for influencing· change, actively working with others through our professional networks, thematic projects and the opportunities for advocacy through our involvement in a broad range of external meetings, dialogue, media and events. Notable activities during the year included:

• Children's Rights - The UNCRC Committee published their Concluding Observation this year informed by the publication of the State of Children's Rights in Wales report on behalf of civil society organisations and our evidence session with young people. We attended the examination of governments in Geneva alongside young people and had an opportunity to update the UN Committee to inform their scrutiny sessions. Contributed a chapter on children's rights in Wales report for Eurochild.

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The Media and lnterviewsfartlcles

Children in Wales has responded to a number of media enquiries relating to issues affecting children, young people and families - with the Chief Executive delivering comments and interviews _in English and Welsh, and Children in Wales' work being referenced in numerous outlets. This year, a particular focus from the media was around findings from the Children in Wales Poverty Report.

Children in Wales Annual Report

Children in Wales' Annual Report 2023/24 was produced as a downloadable colour document.

Objective 3: To effectively influence and contribute to policy and practice development, aligned with Welsh Government National Strategy and priorities from the cross sector children and families workforce, member organisations as well as from Young Wales

Outcome: Children and young people will be put at the centre of national policy making through enabling and strengthening the voice of the multi-disciplinary cross sector work force (professionals and volunteers) through effective representation mechanisms

Objective met through:

Consultation Responses

16 Consultation responses and inputs into responses from a variety of perspectives were produced and submitted during the year. Our members and partners were engaged through our professional networks and electronically throughout the period to inform our responses to Welsh Government, relevant UK Government and enquiries held by Committees of the Senedd.

Notable responses were submitted to the following

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Provide Information and liaison for the TSPC and associated Ministerial meetings

Children in Wales continued to be the representative body for the Children and Families sector on the WCVA Third Sector Partnership Council, participating in meetings across the year, representing the views of the sector on a variety of issues. These issues were largely connected to the impact of the cost-of-living crisis upon children and young people and the need for models of sustainable funding for the third sector who work with them, as well as the importance of giving full regard to children and young people's third sector workforce in policy development and decision making.

Meetings have been held and ongoing relationships developed with Welsh Government Ministers, Deputy Ministers and officials across a range of WG departments, as well as Senedd members, including cross-party members of the CYPE Committee. This has included meetings with children's spokespeople in the Senedd; regular meetings with our MS chair of the Cross Party Group on Children and Families, and meetings with the OM for Social Services and Minister for Social Justice.

Policy Council

The Policy Council allows a broad selection of children and families organisations to network at a policy-maker level to consider pertinent issues with colleagues and to develop collaborative activity. It also enables Children in Wales' trustees and policy staff to hear the views of leaders of key organisations in order for the strategic direction of Children in Wales' work to be informed by them so that key priorities can be established. There were three meetings during the year with invited speakers including Welsh Government officials, the Clerk to the Senedd Committee on Children,

rights, child poverty, and care experienced children.

Forums, Networks and Groups

A wide range of professional development Forums, Networks and Groups were facilitated by Children in Wales regularly, mostly online enabling attendance from participants throughout Wales. Most groups meet at least quarterly and many are supplemented by some form of engagement such as electronic, development of position papers, consultation responses or evidence for Welsh Government meetings or the Senedd Cymru I Welsh Parliament between meetings. These include:

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Contributing to the development and implementation of WG policies through representation role in Welsh Government and other Groups

As the umbrella body in Wales for the children, young people and families sector, Children in Wales highlights the concerns and promising practice of its multi-agency, cross sector members and partners and children and young people (through Young Wales priorities) to facilitate the development of an integrated children, young people's and families agenda in Wales through representation on a number of groups. This allows us to feed into policy development and practice. During 2023-24, we were involved in the following groups:

Representation on Welsh Government Groups

Non Welsh Government groups

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International

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Achievement and performance

Other Funded Project Work

During the year, Children in Wales was also involved in the following funded project work:

Social Care Third Sector Grant"

Funding from Welsh Government Social Care department to provide training to the social care workforce from a children's rights awareness raising perspective, engaging with members to disseminate knowledge and good practice. This year we have developed a new training course and accompanying set of resources to support the creative engagement of Care Experienced children and young people. CIW also continued its delivery of a Safeguarding course in British Sign Language.

Young Carers

With funding from Welsh Government, Children in Wales has continued to 'facilitate the Young Carers Professional Network through meetings and support. This year we held an in person network meeting at the Wales Young Carers Festival in mid Wales.

Independent Review Mechanism

Children in Wales hosts the work of the Independent Review Mechanism Cymru and has secured a further 3 years contract to deliver this valuable service. The purpose of the IRM is to increase public confidence in the transparency of the approvals process and to encourage more people to consider fostering or adopting some of the most vulnerable children in our society.

During 2023-24 the IRM received 10 applications which were all concerned with fostering decisions. The panels are compiled of a balance of social workers and lay members who all have experience of fosteriAg and adoption and are completely independent of the agency who is making the decision about suitability. Many of the applications are from kinship carers and we are developing our expertise in managing complex cases involving family and friends of children in the childcare system. The IRM staff have continued in their work to develop and modernise the service to ensure that it is accessible and sustainable for all parties. New panel members have. been recruited with particular emphasis on increasing diversity of the panel and representation of people who have lived experience of fostering and adoption.

Tackling the Impact of Poverty on Education Programme

Funded by Welsh Government, the project entered its fifth phase this year. A universal approach continued with a focus on guides as an effective tool to help schools mitigate against the impact of poverty in their setting, with a key focus on the successful promotion of the guides and additional resources to all schools across Wales. The additional resources included a full toolkit and offer of support to help schools implement the guides, with more than 300 schools across all local authority areas in Wales (@20%) had received and benefitted from these resources. Other key work over this period has been the full update and rebranding of earlier guides, the addition of two mini-guides ('Tackling Poverty Related Bullying' and 'Mitigating the Impact of Poverty in STEM Education'); further case studies of best practice to inspire schools and an independent Final Evaluation Report for the whole programme (2019 - March 2024) outlining the positive impact the resources and programme have had. At the culmination of the programme all additional toolkit resources will sit on Welsh Government's digital learning platform Hwb, as well as on the Children in Wales website.

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Achievement and performance Getting Ready Project

Funded by the Welsh Government Housing and Homelessness Division and delivered in partnership with Voices from Care Cymru, the Getting Ready project is complementing the When I am Ready scheme by providing support and information for young people to safely transition from care. It includes considerations around delaying leaving care, where this is appropriate and possible, and reducing the risk of homelessness and housing instability. Children in Wales has worked with local authorities to develop a package of bespoke resources for care experienced young people across Wales on a range of thematic areas, notably financial education and budgeting, and have released tailored resources for four local authority areas. We have been delivering workshops to a range of professionals and foster carers, as well as workshops for care experienced children across Wales. Working with our delivery partner Voices from Care Cymru, we successfully secured funding for 2024-25

Parent's Connect Wales

Parents Connect Wales is in its first full year of funding as it works to support parents and local organisations across Wales who are currently engaging parents as part of their work. An online 'hub' was launched in February 2024, to provide a platform to gather parents' views and share information. The Hub consists of co-produced posters and resources; lived experience videos, photo stories and information on the UNCRC. The results of this work have been shared widely with organisations across Wales. Additionally, Parents Connect Wales has established a professional's networJ<; with 11 O members, a parent advisory group with 6 parent representatives and has local representatives in each of the local authorities in Wales.

Football Association of Wales (FAW) Partnership Project - Embedding a Model of participation & engagement

Funded by WCVA, this grant is for a period of 18 months from October 2023. The project aims to support the FAW to establish effective and meaningful participation with their National Youth Council and youth engagement through utilising the expertise and knowledge of Children i,:1 Wales in relation to our engagement model of a rights/participatory approach. Key staff within the FAW have been trained on rights and participation with recruitment and induction of young people for the Youth Council developed and altered to align with a more effective participatory approach. CIW staff have been involved in both FAW national youth conferences (south & north) and have started to develop a package/how to guide to enable FAW to continue with this work. Learning and evaluation from this work will support the potential of offering this service to other organisations in the future.

Peer Research & Climate Change

Funded by the Community Knowledge Fund as part of UK Research and Innovation initially for a period of 12 months from September, this has now been extended for a further 3 months. The project is co-produced with young people, providing them with the training and skills to become peer-researchers on a topic of importance to them. In this case, the young people felt there was a gap in relation to understanding of young people and living a sustainable life in a current cost of living crisis. Young people reached out and engaged with a number of children & young people across Wales through surveys and focus groups building towards developing a report to disseminate their findings, and are looking at funding opportunities to develop a summit for young people in Wales.

Children (Removal of Defence of Reasonable Punishment) (Wales) Act 2020 - Children and Young People Children in Wales secured continued funding from the Welsh Government to deliver work in support of the implementation of the Children Act. This year, bilingual resources including guidance, e-learning package and a poster were completed ready for distribution and promotion in early 2024.

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Achievement and performance Further funded projects included:

Membership

At the end of 2023/24 Children in Wales had 310 members, of which 220 were organisations, 49 were individuals and 41 were students and young people. The uplift can be mostly attributed to an additional 15 member organisations who have joined, plus a handful of new individuals and students.

Development and delivery of training and consultancy

During the year 2023-2024 we have trained over 4000 people who work with children, young people and their families in Wales. Whilst the majority of our delivery has remained online, which has the benefits of being a convenient and economically competitive option, there has been a gradual growth of requests for in person training. We have welcomed this development and recognise the unique benefits of coming together in a shared space to engage and share ideas and experiences more fully.

The biggest area of training delivery is that which we provide for organisations commissioning bespoke courses for their staff groups, with the majority of this coming from returning customers. We have been flexible in meeting the demands of the workforce providing training that is a mixture of online and face-to-face, and during weekends and evenings.

We have fully engaged with the implementation of the National Safeguarding Training Learning and Development Standards hosted by Social Care Wales. We have supported many practitioners in the Childcare sector to be compliant with the updated National Minimum Standards for Regulated Childcare before the November deadline. We have maintained and extended close ties with Local Authority training departments as well as providing focussed training for organisations delivering supported housing, fostering, play and advocacy services.

As a national child rights organisation, our established in house training team continued to promote the implementation of the UNCRC across all courses. This included promoting hands on techniques for direct work to engage young people who are care experienced, and training on why and how to facilitate the participation of children and young people including those in the early years of life. We appreciated the grant funding provided through the Welsh Government that enabled us to deliver fully interactive sessions to the child and family workforce at no charge. These sessions were well attended and inspired many practitioners to try out new ways to listen to children and young people and to put their views at the heart of their activities.

As ever we have been working to keep up with the current trends and the difficulties facing children, young people and families. To this end, we have responded to our members' requests, by developing and running new courses, and adapting existing training, including Child Poverty Awareness, Understanding and Responding to Knife Crime, Supporting Unaccompanied Asylum Seeking children and Child Sexual Abuse. We continue to draw upon the expertise of our Associate Trainers to deliver specific pieces of training and consultancy, augmenting and supplementing the range of courses we offer. These have covered topics such as Motivational Interviewing, ADHD, Autisf1'l in Early Years, Life Joumey training, Telling Children Difficult Information, Mindfulness in the Workplace, Supervision, Management and Leadership. Our range of associate trainers has grown so that we are able to continue to respond to the changing workforce needs of the children's sector.

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Financial position Fundraising

fundraising activity of member agencies.

Principal Funding Sources

During the year the Charity raised its income principally from the Welsh Government, membership fees, other grant funders, training and consultancy.

Project funding from the Welsh Government has been a major source of revenue and has been used to employ staff and to implement the work programme with the associated operational costs. The trustees continue to look at means of generating a diverse base of income streams without adversely affecting member organisations to supplement and underpin its primary purpose, including existing work programmes and activities. The Trustees investment in developing training activities has continued to be developed over the year.

Reserves statement

Restricted funds of £127,426 (2023 - £58,418) will be used during the year for purposes for which they are received.

At the year-end, the charity had an unrestricted surplus in reserves of £770,399 (2023: £1,606,307). Of these reserves, £3,517 was tied up in-tangible fixed assets, £382,117 in investments.

The free reserves available to the charity (excluding tangible fixed assets) were £766,882 (2023 £604,482).

The financial reserves that have been set aside since the formation of the organisation are to provide financial stability and the means for the development of the principal activity and support new initiatives. The longer term aim of trustees is to maintain the free reserves at a level that is at least equivalent to three months running costs of the full staffing complement which could exceed £300,000. It will continue to build its training, conferences and events programme as well as developing its membership activity t_o generate income.

The charity has a balance sheet surplus as at 31 March 2024

Investment policy

Trustees regularly review the amount that the organisation requires, to ensure that it is adequate to fulfil the organisation's continuing obligations. Trustees take professional advice towards the investments; currently adopting a cautious low to medium risk approach.

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Financial review

As Children in Wales moves into 2024/25, building on the momentum developed during our thirtieth anniversary celebrations, we will do so from a new workspace, with a renewed focus and shared sense of purpose enhanced as we bring together a new strategy.

Our goals for the year to come include:

After a collaborative decision-making process, we will move the organisation to a new, more collaborative office space to both enhance our connectivity with other, likeminded organisations, and to ensure that our place of work is accessible to all colleagues and young people. This move is intended to further reduce our outgoings as we continue to work to ensure the long-term sustainability of CiW.

Launching a new, multi-year strategy, through which our newly adopted values will run. Based on an extensive consultation exercise with key stakeholders (trustees, colleagues, CiW members, young people, Welsh Government, and others), the strategy, and its subsequent implementation period, will provide the foundation for CiW to improve its relationships with members and add to the size and variety of our membership; bring in new income from a more diverse range of sources; and demonstrate to Welsh Government and others our intended medium-term direction. further securing the confidence of key funders in our ability to deliver mutually beneficial outcomes.

Extending our work with parents, through both the Parents Connect programme and via the inclusion of the views of parents in our Child Poverty survey for the first time.

Responding to and seek to influence political changes in tandem with, and on behalf of, our members.

Enhance our participation work with young people via the continued delivery of high quality residentials and shorter sessions, as well as via the Young Wales Festival and a new partidpation approach called the Big Conversation. We will also seek to increase numbers and broaden the diversity of our Young Wales volunteers through methods like increasing participation at events such as the Urdd Eisteddfod.

Internally, we will seek to improve our approach to inclusion and anti-racism via training, cross-team discussion and the re-establishment of an internal working group tasked with enhancing our approach to EDI.

We will further increase our focus on safeguarding, a key issue for the organisation given the nature of our work and, as a representative body, the need to be demonstrably excellent in our safeguarding policy and practice. To this end we will build on safeguarding enhancement delivered in 23/24 (such as the addition of two more Designated Safeguarding Leads within the team) by completing a safeguarding audit of the organisation, the response to the recommendations of which will be delivered by a newly established Safeguarding Group, featuring representation from across CiW (including Senior Leadership Team and the Trustees).

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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

Children in Wales is both a Registered Charity and a Company Limited by Guarantee governed by its Articles of Association dated 9 October 2012.

Children in wares is a membership organisation. Full membership is open to organisations and individuals from third, statutory and independent sectors who support the strategic aims of the charity. Membership is also open to young people and volunteers.

The activities of the organisation are driven for the benefit of children and young people in Wales. The Charity and its members are dedicated to a programme of activities based on the mutual desire to benefit children and young people across Wales regardless of gender, class or ethnic background. The activities of the organisation are driven for the benefit of children, young people and their families in Wales. The organisation's approach is inclusive and public participation is encouraged through service user engagement in activities. In particular the Children in Wales 'Young Wales' initiative supports and empowers children and young people to have their say and influence government. Families and carers are also able to have their voices heard through the charity's work with parents and carers.

The organisation is governed by a Trustee Board, comprising up to 12 trustees that meets not less than three times in each financial year (usually quarterly). There is also a Finance & Human Resources Committee (F&HR Sub Committee) that meets quarterly in advance of the Trustee Board. The Trustees elect and appoint the members of the F&HR Committee from the Trustee Board. The F&HR Committee is responsible, under the direction of the Trustees for the overall finances and human resources of the Charity and exercises the powers given to it as approved by the Trustee Board. The Trustee Board has oversight of its work through reports to each of the Trustee Board meetings and the Trustee Board may amend these powers from time to time.

A Policy Council meets three times per year to consider and make recommendations about children and young people's policy issues to the Trustee Board, but has no governance function. The Policy Council comprises up to ten pre-appointed members from key bodies, with a further 21 elected places from the membership, plus the 12 Trustees who are automatically members of the Policy Council.

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CHILDREN IN WALES - PLANT YNG NGHYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

Recruitment and appointment of new trustees

All current members of Children in Wales are eligible to nominate and stand for election. and to vote. Members of the Trustee Board must be Members of Children in Wales (by virtue of organisational or individual membership). The Trustee Board comprises up to nine elected and three appointed Trustees. Trustees can serve for up to two consecutive terms of office of three years, following which there must be a break of at least two years before they are eligible to stand for re-election.

Honorary Officers are either appointed at the AGM or elected by the Trustee Board from Board members in a subsequent board meeting.

In order to achieve a balance of representation on the Trustee Board to reflect the diversity of the Charity, Trustees may co-opt additional members following the AGM.

Functions of the Trustee Board include:

The Trustee Board is accountable in varying degrees to a variety of individuals and organisations including service users, members, funders, the Charity Commission and Companies House. Trustee Board members are required to sign a Code of Conduct declaration and Register of Interests.

All members of the Trustee Board give their time voluntarily and receive no benefits from the charity. All expenses reclaimed from the charity are set out in Note 10 to the accounts.

Trustee induction and training

New trustees receive an induction pack containing the following enclosures:

Children in Wales Background Information

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CHILDREN IN WALES - PLANt YNG NGHYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

Prior to their first meeting the new Trustee meets key employees and other trustees, and receives an introduction to the organisation. During their tenure, Trustees are given regular information for trustees from the Charity Commission and other sources and advised of training opportunities and other events relevant to their role.

Organisational structure

The Chief Executive is responsible for the day to day management of the organisation and is accountable to the F&HR Committee for financial and human resources matters, and overall to the Trustee Board. Hugh Russell was appointed as Chief Executive and took up his post in July 2023. Sean O'Neill (Policy Director) and Paula Timms (Business Development and Delivery Director) served as joint interim Chief Executive following the previous Chief Executive's resignation in November 2022. The Policy Director, the Delivery Director, Finance & Operations Director, Administration Manager, and the HR Officer, join the Chief Executive to form the Senior Leadership Team which is in charge of the charity's day to day operation. On 31st March 2024 there were 13 full time and 18 part time staff employed by Children in Wales.

Salaries are reviewed through a benchmarking process in line with other charities. The total employee benefits of the 5 key management personnel of the Charity are as detailed in Note 7 of the financial statements.

Relationships with related parties

Numerous children's organisations in Wales are involved with Children in Wales in a variety of way_s. Many are members, others send staff and/or young people to conferences, events, seminars, workshops and training events. As the national representative body for the children's sector in Wales on the Third Sector Partnership Council, Children in Wales also works in partnership with the other national representative bodies such as the Wales Council for Voluntary Action (WCVA).

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CHILDREN IN WALES • PLANT YNG NGHYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management

The Trustee Board conducts a review of the major risks to which the organisation is exposed. A risk register is maintained and is updated regularly by staff and quarterly with Trustees with appropriate action plans. Where necessary, systems and procedures have been established to mitigate the risks the charity faces.

The three key risks that Trustees identified during 2023/24 were:

  1. A Strategic & Financial Risk because the Charity's main funding is drawn from restricted project grants from Welsh Government rather than as core or unrestricted funds. This could potentially lead to deflection from the basis upon which the organisation was formed and offers a challenge to its neutral umbrella representation function. A reduction in grant funding could lead to reduction in work with a consequent reduction in size of the charity. To mitigate this, staff and trustees are advocating to funders the need for core funding to exercise the national umbrella representational function and also developing an income generation strategy to diversify funding. The organisational strategic direction is regularly reviewed with project partners and clear messages are communicated to members and wider stakeholders. Investment in ensuring that relationships with Welsh Government remain constructive and that CiWs impact is clearly and regularly demonstrated is a management priority, both in terms of achieving our mission, but also in mitigating this risk.

  2. An Operational Risk in relation to safeguarding as the organisation increases its face-to-face direct work with children and young people. This risk is mitigated through intensive staff training, the appointment of several Designated Safeguarding Leads and regularly reviewed protocols, processes, risk assessments and the commissioning of an internal safeguarding audit, due to report in 24/25.

  3. A Financial Risk due to the underfunding of the Pension fund. This risk, which has been a concern for the organisation for several years, has now been resolved by moving all staff to a new pension provider and closing the old Local Government Pension Scheme.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 2805996 (Wales)

Registered Charity number

1020313

Registered office

Cardiff University Social Science Research Park Maindy Road Cardiff Glamorgan CF244HQ

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CHILDREN IN WALES - PLANT YNG NGHYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

Trustees

S Bhogal S Crawley D Jones Dr J Hails ( appointed 7.11.23) H Jones L Maguire J Murphy H Perry (appointed 4.6.24)

K Simmons (appointed 7.11.23) H Uddin (appointed 11.3.24) J Williams B Webber (resigned 12.3.24) C Bija (resigned 7.11.23)

N John (resigned 7.11.23) F Ahmed (resigned 26.9.23) K Eldridge (resigned 7.11.23) N Patrick (resigned 7.11.23)

Company Secretary

HD P Russell

Auditors

Bevan Buckland LLP Chartered Accountants And 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 Children in Wales - Plant Yng Nghymru 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 which 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

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.

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CHILDREN IN WALES - PLANT YNG NGHYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued

In so far as the trustees are aware:

AUDITORS

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

Report of the trustees, incorporati'!9. a strategic report, approved by order of the board of trustees, as the company directors, on ...... 1.C, ... ,.!L .. f...{f. .................. and signed on the board's behalf by:

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CHILDREN IN WALES - PLANT YNG NGHYMRU

Opinion

We have audited the financial statements of Children in Wales - Plant Yng Nghymru (the 'charitable company') for the year ended 31 March 2024 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:

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.

Prior year Audit by Another Auditor

The financial statements of the Charitable Company for the period ended 31 March 2023 were audited by another auditor who expressed an unmodified opinion. We have reviewed the predecessor auditor's report and considered its implications on the current year's financial statements.

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CHILDREN IN WALES - PLANT YNG NGHYMRU

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

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:

Responslblllties 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.

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CHILDREN IN WALES • PLANT YNG NGHYMRU

Our responsibilities for the audit of the financial statements

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

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

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

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

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

Identifying and assessing potential risks related to irregularities.

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

Audit response to risks identified

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

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.

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CHILDREN IN WALES - PLANT YNG NGHYMRU

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.

Michael Jones (Senior Statutory Auditor) for and on behalf of Bevan Buckland LLP Chartered Accountants And Statutory Auditors Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA Date: ... Ir//cf;.f?.?:.4-: ................ .

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CHILDREN IN WALES - PLANT YNG NGHYMRU

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Unrestricted Restricted Total Total
funds funds funds funds
Notes £ £ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 2,850 5,250 8,100 9,210
Charitable activities 5
Better connected CYP & w/force 86,114 304,385 390,499 374,845
Influencing practice & development through
representation & Consultation 99,151 350,471 449,622 431,597
Better informed CYP & w/force 123,931 438,057 561,988 539,457
Membership & Support Services 16,895 59,712 76,607 80,093
Governance Costs 24,396 86,222 110,618 106,183
Other trading activities 3 316,084 316,084 40,000
Investment income 4 16,587 16,587 16,399
Total 686,008 1,244,097 1,930,105 1,597,784
EXPENDITURE ON
Charitable activities 6
Better connected CYP & w/force
Influencing practice & development through		 147,791 323,149 470,940 449,138
representation & Consultation
Better informed CYP & w/force
Membership & Support Services		 150,474
217,650
21,497		 329,026
475,911
47,003		 479,500
693,561
68,500		 420,423
661,393
65,399
Support Costs 2,439 2,439
Total 539,851 1,175,089 1,714,940 1,596,353
Net gains/(losses) on investments 12,935 12,935 (28,440)
NET INCOME/(EXPENDITURE) 159,092 69,008 228,100 (27,009)
Other recognised gains/(losses)
Gains/(losses) on revaluation of fixed assets Gains/(losses) on revaluation of fixed assets {995.000) (995,000) 2,074,000
Net movement In funds (835,908) 69,008 (766,900) 2,046,991
RECONCILIATION OF FUNDS
Total funds brought forward 1,606,307 58,418 1,664,725 (382,266)
TOTAL FUNDS CARRIED FORWARD 770,399 127,426 897,825 1,664,725

The notes form part of these financial statements

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CHILDREN IN WALES - PLANT YNG NGHYMRU

BALANCE SHEET 31 MARCH 2024

2024 2023
Unrestricted
funds		 Restricted
funds		 Total
funds		 Total
funds
Notes £ £ £
FIXED ASSETS
Tangible assets 12 3,517 3,517 6,825
Investments 13 382,117 382,117 371,621
385,634 385,634 378,446
CURRENT ASSETS
Debtors 14 380,433 380,433 113,667
Cash at bank and in hand 158,903 127,426 286,329 363,408
539,336 127,426 666,762 477,075
CREDITORS
Amounts falling due within one year 15 (138,799) (138,799) (144,582)
NET CURRENT ASSETS 400,537 127,426 527,963 332,493
TOTAL ASSETS LESS CURRENT
LIABILITIES 786,171 127,426 913,597 710,939
CREDITORS
Amounts falling due after more than one year Amounts falling due after more than one year
16		 (15,772) (15,772) (41,214)
PENSION ASSET 20 995,000
NET ASSETS 770,399 127,426 897,825 1~~,~~664,725
FUNDS 19
Unrestricted funds 770,399 1,606,307
Restricted funds 127,426 58,418
TOTAL FUNDS 897,825 1!664i725

approved by the Board of Trustees and authorised for issue on ere signed on its behalf by:

The notes form part of these financial statements

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CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
Notes £ £
Cash flows from operating activities
Cash generated from operations		 1 (90,999) 62,678
Net cash (used in)/provided by operating activities Net cash (used in)/provided by operating activities (90,999) 62,678
Cash flows from investing activities
Purchase of fixed asset investments
Purchase of investment property		 (98,804)
(12,935)		 (139,781)
Sale of fixed asset investments 114,178 112,517
Sale of investment property 28,440
Interest received 16,587 16,399
Net cash provided by investing activities 19,026 17,575
Cash flows from financing activities
Loan repayments in year		 (5,106) (4,117)
Net cash used in financing activities (5,106) (4,117)
Change in cash and cash equivalents
in the reporting period		 (77,079) 76,136
Cash and cash equivalents at the
beginning of the reporting period		 363,408 287,272
Cash and cash equivalents at the end
of the reporting period		 286,329 363,408

The notes form part of these financial statements

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CHILDREN IN WALES· PLANT YNG NGHYMRU

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024

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

RECONCILIATION OF NET INCOMEl(EXPENDITURE) TO NET CASH FLOW FROM OPERATING
ACTIVITIES		 RECONCILIATION OF NET INCOMEl(EXPENDITURE) TO NET CASH FLOW FROM OPERATING RECONCILIATION OF NET INCOMEl(EXPENDITURE) TO NET CASH FLOW FROM OPERATING
2024 2023
£ £
Net incomel(expenditure) for the reporting period (as per the
Statement of Financial Activities)
Adjustments for:
Depreciation charges		 228,100
3,307		 (27,009)
3,217
(Gain)/losses on investments (12,935) 28,440
Interest received (16,587) (16,399)
Increase in debtors (266,766) (59)
(Decrease)/increase in creditors
Difference between pension charge and cash contributions		 (26,118) 23,488
51,000
Net cash (used ln)lprovided by operations (90,999) 62,678

2. ANALYSIS OF CHANGES IN NET FUNDS

At 1.4.23 Cash flow At 31.3.24
£ £ £
Net cash
Cash at bank and in hand 363,408 (77,079) 286,329
363,408 (77,079) 286,329
Debt
Debts falling due within 1 year
Debts falling due after 1 year		 (5,906)
(20,195)		 684
4,423		 (5,222)
(15,772)
{26,101) 5,107 (20,994)
Total 337,307 (71,972) 265,335

The notes form part of these financial statements

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, unless otherwise stated in the relevant accounting policy. The principal accounting policies adopted are set out below.

Going Concern

At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the accounts.

Critical accounting judgements and key sources of estimation uncertainty·

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimate_s are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key Sources of estimation uncertainty

Defined benefit of estimation uncertainty

As set out in the notes, the charity operates a defined benefit pension scheme for all qualifying employees. The accounting cost of these benefits and the present value of the pension liabilities involved judgements about uncertain events including such factors as the life expectancy of members, the salary progression of current employees, price inflation and the discount rate used to calculate the net present value of the future pension payments. Estimates are used for all of these factors in determining the pension costs and liabilities incorporated in the financial statements. The assumptions reflect historical experience and judgement regarding future expectations and external actuarial specialists are also used to assist the exercise.

In the prior year, the management carefully considered the extent to which a pension asset should be recognised under accounting standards, and following advice and guidance given under FRS102, have considered recognising the full pension asset in line with the actuary valuation.

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.

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDEll 31 MARCH 2024

1. ACCOUNTING POLICIES - continued

Income

Income is primarily devised from grant income supporting the principal objects of the charity. The following specific policies are applied to particular categories of income. Grant income is recognised when it is reasonably certain to be received and only deferred where the donor has imposed restrictions on the expenditure or resources which amount to pre-conditions on use.

Investment income is included when receivable.

Membership , training and consultancy income is recognised in the period to which is relates 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.

Expenditure on charitable activities includes all costs relating to the furtherance of the charity's objectives as stated in the trustees report and their associated support costs. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.

Costs are allocated between direct charitable expenditure and other expenditure according to the nature of the cost. VVhere items relate to more than one category they are apportioned between the categories according to the nature of the cost.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity.

All resources expended are classified under activity headings that aggregate all costs related to the category.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance to their charitable objectives.

Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and users of the designated funds are set out in the notes to the financial statements.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Tangible fixed assets

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

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NOTES TO THE FINANCIAL STATEMENTS· continued FOR THE YEAR ENDED 31 MARCH 2024

1. ACCOUNTING POLICIES -continued

Tangible fixed assets

Computer equipment - 33% on cost

It is the charity's accounting policy to not capitalise items with an individual value of £2,000 or less.

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 recognised in the statement fo financial activities.

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.

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 company has a present obligation (legal and constructive) 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.

Financial instruments

The charitable company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at

Financial assets classified as receivable within one year are not amortised.

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

1. ACCOUNTING POLICIES - continued

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. 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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest Financial liabilities classified as payable within one year are not amortised.

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.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled

Custodian Funds

The charity holds certain funds as a custodian on behalf of other entities. These custodian funds are held separately from the charity's own funds and are not included in the charity's Statement of Financial Activities. As of 31 March 2024, the total amount of custodian funds held was £1,508,709 (2023 £1,440,459. These funds are held in accordance with specific terms and conditions agreed upon with the fund beneficiaries.

Page 35

continued ...

CHILDREN IN WALES - PLANT YNG NGHYMRU NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

2. DONATIONS AND LEGACIES

DONATIONS AND LEGACIES
2024 2023
£ £
Donations 8,100 8,100
9,210
OTHER TRADING ACTIVITIES
2024 2023
£ £
Other Income 316,084 40,000
-=
~~==~~=

3. OTHER TRADING ACTIVITIES

Included within other income is an amount of £307,000 relating to the exit from the defined benefit pension scheme (for further information please refer to Note 19).

4. INVESTMENT INCOME

INVESTMENT INCOME
2024 2023
£ £
Deposit account interest 410 631
Income from listed investments 16,177 15,768
16,587 16,399

5. INCOME FROM CHARITABLE ACTIVITIES

INCOME FROM CHARITABLE ACTIVITIES
Influencing
Better
connected		 practice
& development
through		 Better
informed
CYP& representation CYP&
w/force & Consultation w/force
£ £ £
Grants 303,277 349,194 436,462
Consultancy 32,474 37,391 46,736
Membership Subscriptions 2,771 3,190 3,987
Training income 51,977 59,847 74,803
Miscellaneous income
Seminar and event income
390,499 449,622 561,988

Page 36

continued ...

CHILDREN IN WALES - PLANT YNG NGHYMRU

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

5. INCOME FROM CHARITABLE ACTIVITIES - continued

2024 2023
Membership
& Support
Services		 Governance
Costs		 Total
activities		 Total
activities
£ £ £ £
Grants 59,495 85,909 1,234,337 1,229,762
Consultancy 6,371 9,200 132,172 125,103
Membership Subscriptions 544 785 11,277 6,558
Training income 10,197 14,724 211,548 162,018
Miscellaneous income ·8,538
Seminar and event income 196
76~~,~~607 110~~,~~618 1,589,334 1,532~~,~~175
Grants received, included in the above, are as follows: Grants received, included in the above, are as follows:
2024 2023
£ £
Welsh Government - Core Grant
Welsh Government - Children's Act
Welsh Government - Parent Participation		 794,501
27,044
43,521		 744,700
40,566
31,047
Voices from Care 45,378 57,034
Welsh Government - Price of Pupil Poverty Programme 79,288 69,175
WCVA 80,694 3,501
The Young Foundation 80,392 8,000
British Youth Council 10,000
Welsh Government - Young Carers 6,118
Welsh Government - SSSG 10,000 10,000
Welsh Government - Additional Learning Needs Grants
Welsh Government- Grants/ Kickstart Scheme		 35,601 179,164
18,423
Welsh Government - Third Sector Voter Registration Support Grant
National Museum Cardiff
Welsh Government - NYSG		 Welsh Government - Third Sector Voter Registration Support Grant 9,000
2,500
13,500
Welsh Government-
Informal use of Welsh		 24,034
Equality and Human Rights Commission
The National Lottery		 9,950 3,000
CTM Early Years Transformation 6,153
BBC Children in Need 6,815
Electoral Commission 15,000
1,234,337 1,229?62

continued ...

Page 37

CHILDREN IN WALES - PLANT YNG NGHYMRU

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

6. CHARITABLE ACTIVITIES COSTS

6. CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities		 Support
Direct (see note costs (see
Costs 7) note 8) Totals
£ £ £ £
Better connected CYP & w/force
Influencing practice & development		 383,814 1,467 85,659 470,940
through representation & 390,798 1,492 87,210 479,500
Consultation
Better informed CYP & w/force
Membership & Support Services		 565,260
55,829		 2,158
213		 126,143
12,458		 693,561
68,500
Support Costs 2,439 21439
1,398,140 5,330 311,470 1,714,940
7. GRANTS PAYABLE
2024 2023
£ £
Better connected CYP & w/force
Influencing practice&development through representation&		 1,467
1,492		 42,915
43,695
Consultation
Better informed CYP&w/force
Membership & Support Services		 2,158
213		 63,201
6,242
5,330 156,053
The total grants paid to institutions during the year was as follows:
2024 2023
£ .£
Grants 5,330 156,053
8. SUPPORT COSTS
Support
costs
£
Better connected CYP & w/force 85,659
Influencing practice & development
through representation & Consultation
Better informed CYP & w/force
Membership & Support Services		 87,210
126,143
12,458
311,470

continued ...

Page 38

CHILDREN IN WALES - PLANT YNG NGHYMRU

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

9. NET INCOME/(EXPENDITURE)

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

2024 2023
£ £
Auditors' remuneration 10,450 10,755
Auditors' remuneration for non audit work 3,000 3,213
Depreciation - owned assets 3,308 3,217

10. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.

Trustees' expenses

Trustees' expenses

2024 2023
£ £
23 26

11. STAFF COSTS

STAFF COSTS
2024 2023
£ £
Wages and salaries 930,833 777,760
Social security costs 90,645 73,256
Other pension costs 140,738 216,517
1,162,216 1,067,533

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

Employees

2024 2023
30 29-

The total employee benefits of the key management personnel of the charity was £245,972 (2023: £313,394).

There were no employees whose annual remuneration was £60,000 or more in both the current year and prior year.

continued ...

Page 39

CHILDREN IN WALES - PLANT YNG NGHYMRU

NOTES TO THE FINANCIAL STATEMENTS· continued FOR THE YEAR ENDED 31 MARCH 2024

12. TANGIBLE FIXED ASSETS

12. TANGIBLE FIXED ASSETS
Fixtures
Plant and
machinery		 and
fittings		 Computer
equipment		 Totals
£ £ £ £
COST
At 1 April 2023 and 31 March 2024 924 10,297 7,384 18,605
DEPRECIATION
At 1 April 2023 693 5,253 5,834 11,780
Charge for year 139 2,619 550 3,308
At 31 March 2024 832 7,872 6,384 15,088
NET BOOK VALUE
At 31 March 2024 92 2.425 1,000 3,517
At 31 March 2023 231 5,044 1~~1~~sso 6,825
13. FIXED ASSET INVESTMENTS
Listed
investments		 Cash in
portfolio		 Totals
£ £ £
MARKET VALUE
At 1 April 2023 364,982 6,639 371,621
Additions 98,804 98,804
Disposals (101,243) (101,243)
Revaluations
Exchange differences		 15,384 (2,449) 15,384
(2,449)
At 31 March 2024 377,927 4,190 382,117
NET BOOK VALUE
At 31 March 2024 377,927 4,190 382,117
At 31 March 2023 364,982 6,639 371,621
There were no investment assets outside the UK.
Cost or valuation at 31 March 2024 is represented by:
Listed Cash in
investments portfolio Totals
£ £ £
Valuation in 2024 377,927 4,190 382,117

Page40

continued ...

CHILDREN IN WALES - PLANT YNG NGHYMRU

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

FOR THE YEAR ENDED 31 MARCH 2024
14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 54,181 95,923
Other debtors 307,000
Prepayments and accrued income 19,252 17,744
380,433 113,667
15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts (see note 17) 5,222 5,906
Trade creditors 11,093 53,121
VAT 4,541 9,884
Other creditors 14,302
Accruals and deferred income 13,108 38,130
Accrued expenses 104,835 23,239
138,799 144,582
16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Bank loans (see note 17) 15,772 20,195
Other creditors 21,019
15~~,~~772 41,214
17. LOANS
An analysis of the maturity of loans is given below:
2024 2023
£ £
Amounts falling due within one year on demand:
Bank loans 5,222 5,906
Amounts falling between one and two years:
Bank loans - 1-2 years 5,012 5,012
Amounts falling due between two and five years:
Bank loans - 2-5 years 4,577 4,577
Amounts falling due in more than five years:
Repayable otherwise than by instalments:
Bank loans more 5 yrs non-inst		 6,183 101606
Page 41 continued ...

CHILDREN IN WALES - PLANT YNG NGHYMRU

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

18. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024 2023
£ £
Within one year
Between one and five years		 24,288
1,032		 44,814
173,487
In more than five years 103,630
25,320 **321,931 **
19. MOVEMENT IN FUNDS
Net Transfers
At 1.4.23 movement
in funds		 between
funds		 At
31.3.24
£ £ £ £
Unrestricted funds
General fund 611,307 (835,908) 995,000 770,399
Pension Reserve 995,000 (995,000)
1,606,307 (835,908) 770,399
Restricted funds
Various small grants 15,404 49,210 64,614
WG - Children in Wales Grant 35,246 (35,246)
WG informal use of Welsh Consultancy 7,768 (7,768)
WCVA Volunteer Co-ordinator **62,812 ** 62,812
58,418 691008 127,426
TOTAL FUNDS 1,664,725 (766,900) 897,825
Net movement in funds, included· in the above are as follows:
Incoming
resources		 Resources
expended		 Gains and
losses		 Movement
in funds
£ £ £ £
Unrestricted funds
General fund 686,008 (539,851) (982,065) (835,908)
Restricted funds
Getting Ready Project 45,378 (45,378)
Price of Pupil Poverty 79,288 (79,288)
Various small grants 132,360 (83,150) 49,210
WG - Children in Wales Grant
WG informal use of Welsh Consultancy
WCVA Volunteer Co-ordinator
Sponsorship YW Festival
WG-CA		 870,122
8,011
80,694
1,200
27,044		 (905,368)
(15,779)
(17,882)
(1,200)
**(27104 ) **		 (35,246)
(7,768)
62,812
1,2441097 (1,175,089) 69,008
TOTAL FUNDS 1,930,105 (1,714,940) (982,065) (766,900)
Page42 continued ...

Chartered accountants, tax and financial planners CHILDREN IN WALES - PLANT YNG NGHYMRU

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

19. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Comparatives for movement in funds
Net Transfers
movement between At
At 1.4.22 in funds funds 31.3.23
£ £ £ £
Unrestricted funds
General fund 617,749 (15,633) 9,191 611,307
Pension Reserve (1,028,000) 2,023,000 995,000
(410,251) 2,007,367 9,191 1,606,307
Restricted funds
Getting Ready Project
Price of Pupil Poverty		 1,094
3,770		 (1,094)
(3,770)
Various small grants 5,051 16,688 (6,335) 15,404
WG -Children in Wales Grant 20,078 15,168 35,246
WG informal use of Welsh Consultancy 7,768 7,768
WCVA Volunteer Co-ordinator (2,008) 2,008
27,985 39,624 (9,191) 58,418
TOTAL FUNDS (382,266) 2,046,991 1,664,725

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£ £ £ £
Unrestricted funds
General fund
Pension Reserve		 382,386 (420,579) 22,560
2,023,000		 (15,633)
2,023,000
382,386 (420,579) 2,045,560 2,007,367
Restricted funds
Getting Ready Project
Price of Pupil Poverty		 57,034
69,175		 (57,034)
(69,175)
TSANA ALN Training Project 18,116 (18,116)
Various small grants 85,599 (68,911) 16,688
WG -ALN Distribution Grant 145,126 (145,126)
WG - Children in Wales Grant 816,313 (801,145) 15,168
WG informal use of Welsh Consultancy 24,035 (16,267) 7 768
1,215,398 (1,175.774) 39,624
TOTAL FUNDS 1,597z784 (1,596,353) 2,045,560 2,0461991

continued ...

Page43

CHILDREN IN WALES - PLANT YNG NGHYMRU

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

19. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Net Transfers
movement between At
At 1 .4.22 in funds funds 31.3.24
£ £ £ £
Unrestricted funds
General fund
Pension Reserve		 617,749
(1,028,000)		 (851,541)
210231000		 1,004,191
(995,000)		 770,399
(410,251) 1,171,459 9,191 770,399
Restricted funds
Getting Ready Project
Price of Pupil Poverty		 1,094
3,770		 (1,094)
(3,770)
Various small grants 5,051 65,898 (6,335) 64,614
WG - Children in Wales Grant
WCVA Volunteer Co-ordinator		 20,078
(2,008)		 (20,078)
62,812		 2,008 62,812
27~~1~~985 108~~1~~632 (9,191) 127,426
TOTAL FUNDS (3821266) 1,280,091 897,825

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

A current year 12 months and prior year 12 months combined net movement in funds, included in the
above are as follows:		 A current year 12 months and prior year 12 months combined net movement in funds, included in the A current year 12 months and prior year 12 months combined net movement in funds, included in the A current year 12 months and prior year 12 months combined net movement in funds, included in the A current year 12 months and prior year 12 months combined net movement in funds, included in the
Incoming Resources Gains and Movement
resources expended losses in funds
£ £ £ £
Unrestricted funds
General fund 1,068,394 (960,430) (959,505) (851,541)
Pension Reserve 2,023,000 2,023 ~~1~~000
1,068,394 (960,430) 1,063,495 1,171,459
Restricted funds
Getting Ready Project
Price of Pupil Poverty
TSANA ALN Training Project		 102,412
148,463
18,116		 (102,412)
(148,463)
(18,116)
Various small grants 217,959 (152,061) 65,898
WG - ALN Distribution Grant 145,126 (145,126)
WG - Children in Wales Grant
WG informal use of Welsh Consultancy		 1,686,435
32,046		 (1,706,513)
(32,046)		 (20,078)
WCVA Volunteer Co-ordinator 80,694 (17,882) 62,812
Sponsorship YW Festival 1,200 (1,200)
WG-CA 27,044 (27,044)
2,459,495 (2,350,863) 108,632
TOTAL FUNDS 3,527,889 (3,311,293) 1,063,495 1,280,091

Getting Ready Project - Grant aim is to increase the housing support available to vulnerable young people who are transitioning from local authority care.

Page44

continued . .

CHILDREN IN WALES - PLANT YNG NGHYMRU

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

19. MOVEMENT IN FUNDS - continued

Price of Pupil Poverty - Funding received is to develop a suite of guides aimed at schools and educations to raise awareness of the impact of poverty on pupils. Furthermore a designated officer is to be recruited to work directly with schools for training and support.

Welsh Government ALN Distribution grant - Award of Funding in relation to grant funding for distribution to Additional Learning Needs organisations for costs incurred to increase understanding of the new ALN system.

Welsh Government Children in Wales Grant - grant to deliver a project entitled 'Tackling poverty and promoting children's rights- children and families policy, practice and strategic development programme.

Welsh Government - Informal Use of Welsh Government on the informal use to Welsh.

WCVA Volunteer Co-ordinator - Support grant to employ a Volunteer Coordinator in to encourage the engagement of new young volunteers inti the third sector.

20. EMPLOYEE BENEFIT OBLIGATIONS

Defined benefit scheme

During the year, the Trustees reviewed the position of the defined benefit pension scheme and the result of a possible exit from the scheme.

An exercise was carried out by Aon to determine the value of the scheme as at 1st February 2024 which provided a surplus on exit from the fund, the Trustees made the decision after following a employee consultation to exit the scheme.

The surplus in the Fund upon exit of the Employer as at 1st February 2024 (the 'Exit Date'), is set out in the table below.

The surplus in the Fund upon exit of the Employer as at 1st February 2024 (the 'Exit Date'), is set out in
the table below.		 The surplus in the Fund upon exit of the Employer as at 1st February 2024 (the 'Exit Date'), is set out in
£m's
Assets 5.325
Liabilities (5.018)
Total surplus at Exit date 0.307

The exit valuation has been carried out based on the following circumstances at the exit date of the Employers as advised by the Administering Authority:

Before the exit from the pension scheme, the company particpated in the Cardiff and Vale Local Government Pension Scheme which is a defined benefit scheme based on final pensionable salary. The assets of the scheme are held separately from those of the charity.

The scheme actuary carries our a triennial valuation of the scheme in order to assess funding requirements. The most recent valuation was carried out by Aon as at 31 March 2022 which has been updated to reflect conditions at the balance sheet date. The assumptions that have the most significant effect on the results of the valuation are those relating to the rate of return on investment and the rate of increase in salaries and pensions.

Page 45

continued ...

CHILDREN IN WALES· PLANT YNG NGHYMRU

NOTES TO THE FINANCIAL STATEMENTS· continued FOR THE YEAR ENDED 31 MARCH 2024

20. EMPLOYEE BENEFIT OBLIGATIONS - continued

The amounts recognised in the Statement of Financial Activities are as follows:

Defined bene Defined benefit
pension plans pension plans
2024 2023
£ £
Current service cost
Netinterest from net defined benefit
asset/liability		 215,000
173,000
Past service cost 7,000
395,000

Actual return on plan assets

Changes in the present value of the defined benefit obligation are as follows:

Defined benefit Defined benefit
pension plans
2024 2023
£ £
Opening defined benefit obligation 6,421,000
Current service cost
Past service cost		 215,000
7,000
Contributions by scheme participants 31,000
Interest cost 173,000
Actuarial losses/(gains) (2,316,000)
Benefits paid (76,000)
4,455,000

Changes in the fair value of scheme assets are as follows:

Changes in the fair value of scheme assets are as follows: Changes in the fair value of scheme assets are as follows:
Defined benefit Defined benefit
pension plans
2024 2023
£ £
Opening fair value of scheme assets 5,393,000
Contributions by employer
Contributions by scheme participants		 197,000
31,000
Interest income
Benefits paid		 147,000
(76,000)
Assets other remeasurement (242,000)
5,450,000

Page46

continued ...

CHILDREN IN WALES - PLANT YNG NGHYMRU

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

20. EMPLOYEE BENEFIT OBLIGATIONS - continued

The amounts recognised in other recognised gains and losses are as follows:

The amounts recognised in other recognised gains and losses are as follows: The amounts recognised in other recognised gains and losses are as follows: The amounts recognised in other recognised gains and losses are as follows:
Defined benefit
pension plans pension plans
2024 2023
£ £
Assets other remeasurement (242, 000)
(242,000)

Defined contribution schemes

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charge to the profit and loss in respect of defined contribution schemes was £35,034 (2023: £7,252). Amounts outstanding at the year end totalled £4,845 (2023: £ nil).

21. RELATED PARTY DISCLOSURES

The charity and Voices From Care Cymru have common trustees.

During the year income receivable from Voices From Care Cymru totalled £46,928 (2023: £57,114) in respect of. membership, training and reimbursement for the 'Getting Ready Project'. £14,079 (2023: £14,344) was outdistancing at the year end and is included within trade debtors.

There were no other related part transactions to disclose.

continued ...

Page47

CHILDREN IN WALES - PLANT YNG NGHYMRU

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

2024 2023
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 8,100 9,210
Other trading activities
Other Income 316,084 40,000
Investment income
Deposit account interest 410 631
Income from listed investments 16,177 15,768
16,587 16,399
Charitable activities
Grants 1,234,337 1,229,762
Consultancy
Membership Subscriptions
Training income		 132,172
11,277
211,548		 125,103
6,558
162,018
Miscellaneous income 8,538
Seminar and event income 196
1,589,334 1,5321175
Total incoming resources 1,930,105 1,597,784
EXPENDITURE
Charitable activities
Wages 1,162,216 1,067,533
Investment management fees 14,907 12,193
legal and Professional fees 33,487 14,325
Meetings & conference expenses 71,491 9,229
Recruitment 8,488 14,286
Training & Consultancy 107,551 92,471
Grants to institutions 5,330 156,053
1,403,470 1,366,090
Support costs
Support costs
Trustees' expenses 23 26
Auditors' remuneration 10,450 10,755
Auditors' remuneration for non audit work 3,000 3,213
Insurance
Carried forward		 4,022
17,495		 7,458
21,452

This page does not form part of the statutory financial statements

Page49

CHILDREN IN WALES - PLANT YNG NGHYMRU

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

FOR THE YEAR ENDED 31 MARCH 2024
FOR THE YEAR ENDED 31 MARCH 2024 2024 2023
£ £
Support costs
Brought forward		 17,495 21,452
Travel and subsistence 32,081 26,766
Repairs and renewals
Communication		 52,538
97,910		 4,569
52,915
Rent 45,000 43,117
Other premises costs 29,912 32,094
Bank Charges/Bad Debts 1,518 26,818
Irrecoverable VAT
Depreciation of tangible fixed assets		 31,709
3,307		 19,315
3,217
311,470 230,263
Total resources expended 1,714,940 1,596,353
Net income before gains and losses 215,165 1,431
Realised recognised gains and losses
Realised gains/(losses) on fixed asset
investments 12,935 (28,440)
Net income/(expenditure) 228,100 (27,009)

This page does not form part of the statutory financial statements

Page 50