Charity registration number 1045890 Company registration number 2995805 (England and Wales) CYFANNOL WOMEN'S AID LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
CYFANNOL WOMEN'S AID LIMITED CONTENTS Page Trustees report Statement of trustees responsibilities 15 Independersl auditor's report 16-18 statement of finan¢ial aotivilies 19 Balance sheet 20 Slatement of cash flows 21 Notes lo the financial statements 22-41
CYFANNOL WOMEN'S AID LIMITED TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annual report and financial statements for the year ended 31 March 2024. The financial slalements have been prepared in accordance with the accounting policies set oul in the notes lo the financial statements and comply with the charity's goveming document, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing the accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effeclive 1 January 2019)" Objectives and activities OVERVIEW Vision Everyone is empowered to flourish in a life free from Violence Against Women, Domestic Abuse and Sexual Violenc Mission To deliw acnJssGn(a raryof person andtram4rrfornd sffiryce5toanypuson, particthartywomen orchildren, who FAsexperRnced anylomi ofWJolence Asainst Women Domestic Abyseand sex{lYCe, r4Trrdless oltheir needs andthe muthpledisadvantage5 theyfate. Values Integrity Sell.Awareness Cdlabornti RvAlience Dedicaiion Ambilion ewi con Inually evo learning, evaluating and adapting. is Slralegic Goals needsolourc(thmvDII. D]4ne team
CYFANNOL WOMEN'S AID LIMITED TRUSTEES REPORT (CONTINUED){INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Commitment of purpose: Cyfannol Women's Aid (Cyfannol) believes that a world without domestic abuse and sexual violence is one lo aspire to. We believe that all people who are victim5 of abuse and violence should receive person-led and trauma- infortrted services. We acknowledge that overwhelmingly. domestic abuse and sexual violence is committed against women and that VAWDASV is a gender-based issue and a cause and consequence of gender inequality. As a charity, our key role is therefore lo support women and children to flee abus& and violence, recover from their experiences and to flourish in a life in which violence and abuse no longer happens to them. This ideology will be reflected in our charity name. mission, vision and values. Cyfannol recognls@s that gender idenlily is an important issue. and we believe in people's righl to self-dèfine. Our services specifically for women will welcome anyone who's gender inlersecls with Ihat of female and anyone who believes il's the right servico for them. We 90 through an in-depth assessment with anyone tho wants to access any of our support Setvices in order lo ascertain which service is right for them. based on their individual situation and needs, as well as external risk factors. We have a range of options available that allow us to be flexible. including dispersed refuge properties Iself-conlained accommodation tjnits) across Gwent. as well as outreach and communily-based support services. We will continue lo deliver some services thal are accessible to people of any gender. including some of our sexual violence services, Our Independent Domestic Violence Advocacy serViS and our Children and Young People servlces. Wherg there are opportunities lo expand our support through funding intended for all people, we will consider.. The importance of the Opportunity in terms of advancing our mission." Whether Cyfannol's unique and holislic approach can improve provision in that area- and- Whether we are best placed to tender independenlly or with a trusled partner. In the continual evolution of our serVis. we listen to many voices. We speak directly to the women. childfen and other people that are experts through experience, asking Ihem ath)ul their needs. how our services have impacted on their lives and what additional setvices are required. We lislen lo our leam, asking them to share Iheir experiences, asking where Ihey feel we work well and where improvemenls can be made. Finally, we speak lo the range of partners, funders and commissioners who support our work lo identify how they view us and Ihe services we deliver. We will continually adapt in response to the emerging needs of the people who use our services and in response to the challenges and opportunities created from the extemal environrnent. A¢tlvitles~ Summary: Cyfannol supports people across Gwent who have experienced any form of Violence against Women, Domestic Abuse or Sexual Violence, Ihrough refuge, outreach and community-based services. Wilh established Hwb's in Pontypool. Abergavenny, Ebbw Vale and Newport and more than 45 years of experience, our dedicated teams help people lo feel safer, recover from their experiences and rebuild their lives. empowering individuals lo flourish in a life free from violence against women, domestic abuse and sexual violence (VAWDASVI Public Benefit- As sel out above all our charitable activities are undertaken lo further our charitable Pufposes for the Public Benefit. The Trustees have referred lo the guidance contained in the Charity Commission's 'Charities and Public Benefil.. general guidance on Public Benefit when reviewing Ihe charity's aims and objectives and in planning its future activities. In particular, the Trustees consider how planned activities will conlribute lo the aims and objeclives Ihal have been sel.
CYFANNOL WOMEN'S AID LIMITED TRUSTEES REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Achievements and performance Accommodation Services- 275 beneficiaries Our accommodation is available lo people experiencing and form of Violence Against Women. Domestic Abuse and Sexual Violencè (VAWDASV) We offer 3 different iypes of accommodation- Refuge Supported Housing (for women exploited through the sex industry) Longer-term move-on (Tai Cytannol) Refuge We are able to support over 50 people at any one lime. offering a mix of communal refuge space and self-conlained dispersed flats and houses, a15 with different levels of support available. This broad portfoliD means that we can accommodate women and families wilh different needs and requirements, including Ihose who.. Prefer to live alone Benefit from living with others Benefit from having the support team on sile 2417 Have mulliple and c0-occurr1r needs Have larger families andlor older children (including dependant adult children) Hav8 disabilities and carers Have a pel. including dogs We also have 1 flal and 1 family sized home Ihat afe suitable for people of all genders. Supported Houslng for women exploited through the sex industry 'Arcadia' is a unique provision in Wales offering 5 women. who are experiencing exploilalion through the sex induslry, a home. Women have specialist support and security services available 2417, a piivale bedroom, shared facilities. therapy hwb and garden. Tai Cyfannol We offer women who have previously used our services, particularly our refuge services, the opportunity to move into longer term transilional accommodation. We have a mix of 2 and 3 bedroom homes, offered at affordable local market rents and meeting Welsh Qualily Housing Slandaids. Women don't need lo continue accessing suppori after moving into Tai Cyfannol accommodation unless Ihey wish to. Our first 2 homes were established in Torfaen and Blaenau Gwent and in Ihe eafly part 202412025 Tai Cyfannol will expand into Monmouthshire and Caerphilly. Support impact within Refuge and Arcadia is measured though the Housing Support Grant National Outcomes framework, which evidences the main Purpose ol the grant in relation to the following primary outcomes: People have been able lo engage with housing related support services (advice, information and assistance) and are beller informed aboul the options available lo them andlor know where to go lor asslslance People have been able lo access emergencyllemporary accommodalion or short-term supported accommodation People can access and sustain a sultale seltled home People can manage their existing accommodalionlhome which prevents them from either bacoming homeless or from h8ving to access fflore coslly public services {e.g. health. social care seNicesl
CYFANNOL WOMEN'S AID LIMITED TRUSTEES REPORT (CONTINUED){INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 And individual progress againsl the following secondary outcomes: People have positive and heallhy relationships with people in thelr life People feel safe People have independence and control of Iheir day lo day 5ives People are engaged in something meaningful to them People's physical health is good People are managing the impact oflheir dependency People's mental health and wellbeing is good Communlty Services- 1,024 beneficlaries Our community services incorporate ctisis intervention, groupwork programmes and longer-lerm tenancy support in Torfaen. Monmouthshire, Blaenau Gwent and Newport. Our Hwb's in Pontypool, Abergavenny and Ebbw Vale provide crisis intervention. emotional and practical support to women. either by phone or in person. Support can be accessed by any woman on a one-off or on-going basis. People of all genders can access the ServIS at the Ebbw Vake Hwb. Referrals are accepted from agencies, as well as individuals themselves. Some crisis referrals are received via police Public Protection Notices IPPN}, whereby individuals have given consent to be contacted by a domestic abuse a9ency following an incident. Women requiring ongoing support receive support lo manage their tenancies. finance. relalionships, safety and on- going educalionltraining aspirations. Group work figures incorporate the Own My Life programme, Recovery Toolkit and STAR Group, which mums attend alongside their children (see section 5, below, for further information). Area Torfaen Service Community Services Group work Community Services Group work Community Services GTOUP work Group work Number of people 365 wom&n 35 women 260 women 38 women 239 women and men 33 women 54 women Monmouthshire Blaenau Gwent Newport 'The figures in the lable do not include PPN contacts where individuals did not access further support. Impact is measured though the use of the Supporting People National Outcomes framework which monitors distance travelled by women las explained in l }. Chlldren and Young People's Support- 150 beneflclarles We offer a range of Children and Young People's Support Services. comprising of.. Mentoring programme for boys Girls Groups 1:15UPPOrt STAR Group Ar Trac Support Services (see section 5. below) The Mentoring Project is delivered across Monmouthshire and Torfaen to boys aged &16 who have experienced domestic abuse. The aim is to help them wilh behavioural challenges and managing feelings they might be experiencing. A mentor will engage with a child once a week for 9 months (under 11sl or once a week for 8 weeks, as part of a group (11-16 yrs}.
CYFANNOL WOMEN'S AID LIMITED TRUSTEES REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The mentoring project supports the child lo.. feel more self-confident.. ielale better lo others,. develop a stronger sense of responsibility., understand the consequences of their actions,. improve their concentration., and improve attendance and attainment at school. Girls Groups are for girts aged 11-15 across Monmoulhshire who have previously lived in a home where there was an unhealthy relationship between adults. These supportive, peer-led groups meet weekly for 8 weeks to work on small art and craft projects. The sessions offer an opportunity for the girls to listen and support each other. whilst developing Iheir understanding of heallhy relationships. These groups focus on.- Expressing ourselves in healthy and appropriale ways- Positive communication; Building self-esteem. Resilience; and Coping strategies. The STAR Group programme 7-11 is for children who have experienced familial domestic abuse. Their parent or main caregiver allends a group al the same lime to help them strengthen their relationship with Ihew child. The group runs over 10 weeks and covers healthy relationships, domestic abuse, keeping safe, feelings, managing anxiety and anger and resilience. The programme supports children to feel safe, express their feelings in a safe way. understand that the abuse is nol their fault. leam how lo communicate more positively with their non abusive parent. We offer 1.1 Support across Gwent to help children and young people feel emotionally and practically supported following their experience of domestic abuse. The aim is lo empower Ihem to make positive choices in Ihair present and future, feel safe, and gain knowledge and skills in how to slay safe. Our Young Person's Independent Domestic Violence Advisors provide specialist advocacy and support for young people aged 11-18 affecled by domestic abuse and identified as at high risk of serious harm. This service is for young people who have grown up in households where domestic abuse is presenl, and young people who arelhave experienced violence or threats of violence in their own relationships (intimate or other). Iiiteryeiitioii One-to-one m&nloring Mentor-led boys groups Glrls Groups STAR Group 1.1 Support Nuinber Df beneficiaiiE5 7 boys 30 boys 11 girls 11 children 91 children Ar Trac Project: Children and Young People's Support in Blaenau Gwent & Newport beneftciaries 177 The Ar Trac project launched in April 2020 to support children and young people aged 5-16, who have experienced or witnessed domestic abuse and who are exhibiting difficulties with Iheir family and peer relationships. Ar Trac is delivered across 10 areas by 5 regional project partners. Cyfannol is the lead partner, overseeing the project, and delivering interventions within Newport and Blaenau Gwent.- The project brings together a range of interventions, CprOdUCed by local agencies with children and young people. Ar Trac's suite of age-appropriate services are tailored based on the individual needs and strengths of Ihe child and their family. As such, the project and what it offers will continue to evolve. Activity Number of people engaged Number of 1-2-11 mentoring I peer mentoring sessions delivered Number of group programme sessions delivered Total number 177 439 75
CYFANNOL WOMEN'S AID LIMITED TRUSTEES REPORT (CONTINUED){INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Horizon Sexual Violence Servlces (Gwent wide)- 545 beneficiaries Our speciallst Horizon Sexual Violence Services offer a range of support for people of all genders across Gwent: Independent Sexual Violence Advisors (ISVA) for adults and children who have experienced any form of sexual violence or childhood sextjal abuse. Therapeutic interventions, including counselling services for children and young people and adult suNivors of childhood sexual abuse. Group work programmes (such as Sexual Violence Recovery Toolkit), peer support and group-based creative therapies Sexual Exploitalion Advocacy Indicator Cllents recelving ISVA support Clients receiving counselling Groupwork attendees Sexual Exploltatlon Counselling waiting list at end of period Survivors who had accessed criminal justice s Total number 116 201 72 75 118 81 stem The impact of ISVA support is measured in line with the Lime Culture Risk and Needs Assessment, which monitors distance travelled in key areas of need= Harm from Olhers; Health and Medical,. Mental Health and PShOlDglC8l Wellbeing,. Coping Mechanism. Alcohol and Drug Use,. Safeguarding. Criminal Justice- Employment and Education; Finance., Accommodation and Housing- Immigration and Residence. Impact for counselling is measured using the C.O.R.E Therapy Assessment and End of Therapy Forms which involve client's self-assessment of Well-being, Symptoms, Functioning and Risk. Boost (Gwent wide)- 18 beneficiaries Gwent Boost is a partnership project aimed to empow8r individuals with lived experiences by providing opportunities within Iheir communities. Cyfannol Women's Aid is co-delivering the Targeted Peer Advisor Programme wilh St Giles Trust. We support by recruiting women with lived experiences to become peer advisors and help with breaking down the barriers preventing women with lived experience attending work. These peer advisors will go into support roles where their lived experience can be used in a positive way. The programme offers training, placement, professional development, and support around the framework of Level 3 Advice and Guidance qualification, giving the peer advisors the skills and qualifications to move into employment and make progress in the new lives. Tabw (Gwent and South Wales police force areas)- 49 beneficiaries Tabw provides emotional support and advocacy for viclim-survivors of police perpetrated Violence Against Women, Domestic Abuse and Sexual Violence who live or work in the South Wales or Gwenl Police force areas. The project also offers this support to police colleagues. This imparlial and confidential service is delivered in partnership with Vale Domestic Abuse Services. The specialist service is required because viclim-sutvivors of police perpetrated domestic abuse face increased and unique challenges, due lo the power Imbalan caused by the profession of the perpetrator. There are additional challenges faced by polico force employees who experience impact in both their personal and professional lives. The Independent Polico Perpetrated Domestic Violence Advisor {IPPVA) specialists provide emotional and practical SLlPPOrt to encourage viclim-survivors to reach out. responding to Iheir wider negds. Tha servic8 providas advocacy through the criminal, civil and if appropriate, the police internal processes.
CYFANNOL WOMEN'S AID LIMITED TRUSTEES REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Financial review The charity made a lolal surplus of £105,074 for Ihe year ended 31 March 2024 {2023'. £323,792) consisting of an unrestlicled surplus of £47,200 {2023-. £320,774) and a reslricled surplus of £57,874 {2023'. surplus.. £3,018) before transfers. Cyfannol finances ils activities through speciffic funding streams including Government funding, private grant providers and through raising our own income Ihough rental income. Our main funders are.. SetViC81 Project Accommodalion & Community Services Funderl Conlractorl Grant Welsh Government Housing Support Grant via Torfaen County Bofough Council, Monmouthshire Counly Council. Blaenau Gwent County Borough Council & Neviporl Clty Council The National Lotlery Community Fund via Ihe Wallich as the Lead Partner South Wales Poli & Crime Commissioner via Vale DAS as Ihe Lead Parlner The National Lottery Community Fund Gweni Police & Crime Commissioner Welsh Government VAWDASV Thirif Sector Revenue Grant Ministry of Justi The Home Office BBC Children in Need The Home Office via Welsh Women's Aid Welsh Government Sustainable Social Services Furid Horizon Sexual Violence SeICes CYP Services Other The National Lottery Communily Fund (Digital) Moondance Foundation Hodge Foundation Welsh Government VAWDASV Capital Grant Cyfannol has a number of policies and procedures in place to ensure that funds are controlled, monilored and checked against Ihe annual budget for income and expenditure. These procedures set out the detail by which staff are required lo carry out their duties in this particular area of work. They also set out the specific lasks involved in undertaking this area of work and identify who is responsible for carrying them out. Investment Pollcy The Board of Trustees have the power lo invest in such assets as Ihey see fil. monies not immediately required for the furtherance of its objects.
CYFANNOL WOMEN'S AID LIMITED TRUSTEES REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Reserves Pollcy The Board of Trusle8s recognise their obligalion to protect the organisation from risk of insolvency or serious disruption of ils work with women who have suffered outcomes of domestic abuse and also to apply the Charity's Income within a reasonable time of receipt for the benefit of its clients and tho organisation. Income is generaled in tho main from Ihe organisalions, aclivilies. therefore il is the intention of Ihe Trustees that reserves will be created and maintained from surpluses. It is the Trustees, assessment thal possible liabilities would be 5 months outgoings of up lo £1,e6,7B3 to cover legal obligations and liabilities based on 1000/0 ongoing conlractual commitments (all short-term capital grants and short-term Covid grants have been deducled from Ihe calculations)- The resee$ of the charily at the year-end were £2.790.70g {2023= £2.685,635) consisling of unreslricled rese@$ of £2,661,994 (2023.. £2,377,036) and restricted reserves of £128.71512023: £308.5991. The free reserves of the charity {unreslricted reserves, less fixed assets and other designated funds) totalled £1,458,231 (2023. £1,466,129). The level of free reserves 18 currently below the charity's r8seNe policy. The plan is to build Ihe free reserves over time and to work towards achieving the charity's reserves policy. Over the last few years, significant progress has been made towards this. Annual Statement on Fundraising This statement covers the requirement charities must follow as set out in the Charities (Protection and Social Investment) Act 2016. Cyfannol WA is regislered wilh the Fundraising Regulator and are commilled lo the Fundraising Promis& and adherence lo the Ccide of Fundraising Practice. Our Charity Development & Fundraising Manager is a full member of the Institute of Fundraising. In 2023124 il cost us £4,359.631 lo provide Violence against Women. Domestic Abuse, and Sexual Vidence services in Gwent. Appioximalely 61°h of this came from slatulory sources, 29Yo from rental income, 8010 came from trusts and foundations, 10/. from donations and 1 /[* from other income and investments. OLtr lundraising effort involves encouraging donations through 9rant applicalions, and community fundraising activity. All fundraising activity lo date has been carried out in-house, and we have no immediate plans lo engage third party professional fundraisers. Policies and procedures are in place covering all aspects of fundraising, including donations from vulnerable people, and dealing with complaints. Over the last 12 months, we have been successful in allaining new granls for revenue and capital projects. Plans for the forthcoming year We recognise thal challenges within fundraising will continue over the next 12 months as people and organisalions have more demand on their resources. Our Fundraisiro Strategy is a working document and is frequenlly reviewed. Key activity wilhin Ihis strategy will include.. A continued focus on trusl and foundalton support, particularly in the development of children and young people services. A new approach lo legacy and corporale gifting Increased stewarding activity lo beller engage with our supporters, funders. and commissioners. Funding priorities for 202412025: Sexual Vi018nce support services Adult 8ducational groupwork Children & Young People Services CriSi[Med1ale VA WDASV support in Newpi)rt Relenlffon and expansion wilhin the Housing Support Grant programme
CYFANNOL WOMEN'S AID LIMITED TRUSTEES REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Statement of Risk Management Cyfannol WA is committed lo ensuring effective financial management Ihrough a system of monitoring, checks and controls, and to ensure that financial malleis ale considered al a strategic level and Ihal there is forward planning. The above includes a managed approach lo financial issues which may presenl a rÈsk to the organisalion. The organisalion has in place a system of business planning which indudes an account of currenl and future operational activily and the financial implications. Effective financial management will be achieved through the following aclivilies: A Strategic Plan incorporating the Fundraising Slralegy. establishing an annual budgel.. Reporting and monitoring income and expenditure.. A system of delegated aulhorily regarding financial management. The process of auditing accounts., and A process of PESTLE scanning and Strategic Risk Management The sector in which we operate. contlnues lo face many challenges and risks. As we move into 2024-2025 the challenges and risks reflected in Ihis strategy and Dur priorities for action. include: There is a housing crisis across the UK and Wales which is deeply impacting survivors of dorneslic abuse, exacerbated by the cosl-of-living crisis. This means we a seeing women and children slaying longer in refuge due a lack of suitable accommodation lo move onto, which can In some case5 be detrimental to their recovery. This also means there are le55 refuge spaS available to wotnen in crisis. with demand on spaces outstripping supply. Cyfannol has long been committed lo providing quality. trauma-informed. person-led services, that 8re informed by the experts by experience. We are conscious that these approaches could be better developed acrc6s the charity and there is a need for enhanced training and a plan lo underpin a consistency and effectiveness of our approaches. With 2 of our Housing Support Grant conlracls due to go out to tender during 202412025 and some other grant funding endinglapproaching renewal, there is a risk of reduction in our overall income and the breath of seThices we offer. 2023124 was very challenging for Cyfannol in terms of navigating some commissioner's decisions and approaches. Whilst commlssioners say they welcome consortia and partnership approaches, the reality is that 'financial envelopes, are not realistic and opportunities to work with lik&mind organisations are becoming les5 and less viable. There are now less support services available to people in Gwent who have experienced sexual viol&nce. Recruilmenl and retention remain a challenge within the sector as we move into Ihe financial year 202412025, though the overall piclure has improved. We still face significant compelilion between our sectDr and similar roles in Local Aulhorilies, due to the unfair differentials in salary and pension levels. Supporting the wellbeing of our leam members through the cost-of-living crisis, whilsl 51ruggling lo recruit, whilst dealing wilh the lack of inflationary uplist in grants and contracts has been a significant challen9e. Brexit. pandemic recovery, worldwide unrest, and the UK cost of living crisis continues lo impact of the peopl8 we SLtpport, our team and how we run the charity. We have, as expected, experienced several knock-on effects, including increases in costs, reduced donations. a change in the funding climate due to the increased demand on trusls and foundations and changes to law and legislalion. We remain very conscious of the emerging changes in society and the conversallons in the sector atDund gender, inlerseclionalily and how VAWDASV seTvices aren't as well designed as they could be for some Ltnder- iepresented groups including women ol global majority. We are mindful Ihal individuals have their own unique needs, and we want to provide a more equitable and accessible seNice.
CYFANNOL WOMEN'S AID LIMITED TRUSTEES REPORT {CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Plans for future periods With the above challenges and risks in mind, we have considered the key opportunlties and priorilEs for 202412025 to be= Continuing lo expand Tai Cytannol across Gwent, offering quality, affordable long-lerm move-on homes lo women and their families. is rocognised as being of high importance in the Welsh Government's VAWDASV Strategy. We have an opportunity to continue applying for capital grants lo support this endeavor plus investing our own reserves. Concluding initial exploralive thinking and planning on how lo improve our trauma informed responses and progressing real improvements during though improved training. shared consistent underslanding and Ihrough tilising tho voices of experts through experience. Investing lime and energy lo gel 'tender ready. so that when the opportunities open on the market we are in the besl posilion possible to move quickly, describing our unique offer in a creativè and visual way and ensuring our funding model is up lo dale so that resulting seNices are properly resourced. Funding and developing the following services will receive high priority in 202412025.. SBxual Vi018nc8 SUPPOrt services Adult educational groupwork Children & Young People Semces CriSi#Mmdlat& VAWDASV support in Newport As the largest provider of VAWDASV services In Gwenl, we recognise thal we can &xtend our sliategic networking. doing morè to target our external communications, and leading conversations lo highllght our specialism and expertise. This includes responding to networking opportunities driven by business and cross- sector inilialives to boost awareness of Cylannol in the wider community and build links to support both communications and fundraising. The need for the voices of people we support lo be at the heart of our organis81ional developments has never been grea16r, as competition for funding becomes ever more fierce. We will be facilitating this formally during 2024 by introducing a new Engagement Officer role lo the communications and development leam, with responsibilily for selling up a participation group to inform developmenl planning. Cyfannol has good cash reseNes and a growing physical asset base, Ihough only generates a small amount of unrestricted income and il is getling more challenging lo fund some projects and address gaps as the charily grows. There is a dependency on contracts, wilh a reduction in accessibility of trust and foundation funding. There will be opportunities in 202412025 to expand our reach. and we will continue lo exploie ways to diversify our income streams, building on 2023's corporale and legacy giving successes. Internally, Cyfannol is in a strong position with ils team and culiure. Whilst disparity still exists between the Charity sector and others (such as Local Authority) which continues to impact our recruilmenl and relenlion, we have seen positive changes, including an increase in the numbers of quality applications. and more applications from and appointments of people wilh diverse backgrounds and protected characlerlstics. We are offering a more competitive package including higher salaries following a recent external independeiil benchmarking exercise and a small uplifi in HSG funding lor 202412025. supporting us lo become a Real Living Wage Employer. To evolve our cullure further, we will ensure that we employ people who not only have the right skills and experiences bul are also a good match to the organisalion's values and workplace behaviour expeclalions. We will continue lo encouiage diversity within our workforce and further our employment offer, relenlion incentives and succession planning. 10-
CYFANNOL WOMEN'S AID LIMITED TRUSTEES REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 With our annual team Survey providing us insight into some inconsislencies in how we induct, Irain, manage loams and support team members, a key focus will be to bring about organisalional consistency, focu5sing on the well-belng, leaming, developmenl and recognilion of our team members lo foster an environment ol safely and stability. Cost savings on re-negotiated supplier conlracls have already started lo flow through. Dufing 2024125 we will continue to build on this work to ensure that Cytannol receives the most effective seNices possible al the most efficient price point. Cyfannol h8s key strengths related to our purpose and values, Ihough we know from recent studies we could do more to reach more minoritized. global majorily and inteiseclional communities. We welcome and endorse Ihe Welsh Government Anli-racism plan and understand we have a parl to play in making Wales gn 8ntÈ-racist nation. We have recently secured updated training for our leam and are developing our related plans. 11
CYFANNOL WOMEN'S AID LIMITED TRUSTEES REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 structure, governance and management Board of Trustees The following members of the Board have held office since: Ceri Meloy (since Novemb8r 2019) Ann Hodgson {since January 2022) Susan Legge (since January 20221 Emma Louise Brule (since February 2023) Vilija Norke (since Augus12023) Anne O'Donahue (since February 2024) Jodie Mccarthy-mills {sinco Novemljor 2024) Stephen Dwyer (since November 2024) All Trustees are also members of the company with Ihg exception of appointees and c(>opted members. Under the Companies Act 2006 definition. all members of the Board are directors of the company. In accordance with the Articles of Association all members of the Board retire at each Annual General Meeling and are eligible for re-election. Governlng Document Cyfannol Women's Aid ICWA) is a charitable company limited by guarantee. which was incorporated on 29 November 1994. The compar)y was established under a Memorandum ofAssociation which eslablished the objec15 and powers of the charitable company. In the event of the company being wound up members are required lo contribute an amount not exceeding £1 towards any shortfall. Trustee Induction and Tralnlng The trustees, as company directors. have overall responsibility for the management of the organisalion as outlined in the Standing Orders reflected in the Conslilulion and are governed under its Articles of Association. The Board of Trustees have responsibility of ensuring the organisalion operates within the law and within the confines of any contract il has in place wilh other bodies such as grant giving organisalions. housing associalions, and local aulhorilies. The Trustees work collectively ensuring the business of Ihe organisation15 conducted openly and with inlegrily, ensuring that CWA operates within the teTms of the conslitulion and overall aims and objectives ol the organisalion. The Board of Trustees are responsible for defining the stralegic direction of the group, for monitottng and regulating the standards of service delivery and lor overseeing the financia5 affairs of the group. The day-to-day management of the group is delegated lo the organisalions. CEO as laid out in Ihe System of Delegated Powers. The Trustees ensuré that new members are recruited or elected on a syslematic and continuous basis in older that there is always a core of experienced members. Election of Irltslees is undertaken having regard to the constitution and lakes place at the AGM. New Iruslees are sought who have experience in related areas of work and who have an understanding of Violence Against Women, DomesticAbuse and Sexual Violence. They receive induclion training that involves a visit to the offices and a meeling with the CEO and other workers. They are provided with a copy of Standing Orders and Delegated Authority and information relating to a description of the service. There is a role description for Trustees and in addition new Truslees are provided with up to dale information on the role of Trustees and a guide lo U)e relevant National Occupational Standards. Key management personnel The criteria used for setting the pay and remuneration of the charity's key management personnel remuneration is currently based on the maikel value. comparing salary levels lor core roles across similar size charities lo ensure the pay rates are compelilive. 12-
CYFANNOL WOMEN'S AID LIMITED TRUSTEES REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Reference and administrative details Registerod charily nama Cyfannol VVDmen's Aid Charity number 1045890 Company regi5tratlon number 2995805 Registered offlce 3 Town Bridge Buildings Park Road Pontypool Torfaen NP4 6JE Trustees Ann Hodgson- Chair Emma Brule- Vice Chair Vilij2 Uzkurnyle- Treasurer - appoinled 01108123 Ceri Meloy Susan Legge Anne O'Donoghue - appointed 06102124 Slephen Dwyer- appointed 12111124 Jodie Mccarthy Mills 8ppointed 12111124 Emma Rose- resigned 01105123 Delyth Prilchard - resigned 07106123 Catherine Perkins - resigned 07111123 Kay Perrott - resigned 12111124 Secretary Emma Rose - resigned 07111123 Kay Perrott - appoinled 07111123, resigned 12111124 Anne O'Donoghue - appointed 12111124 Key Management Personnel Helen Swain - Chief Executive Officer Joanna Parry- Director of Support SeNices Deanna Parry- Director of People & Culture Debra Richaids- Director of Communications & Development Sarah Screen- Director of Finance & Business Services Sally Howells - Director of Sexual Violence Services Ilo August 2023) Helen Kell - Director of Income and Development Ilo May 2023} Auditors A2ets Audit Services Chartered Accountants and Stalutory Auditors Ty Derw. Lime Tree Courl Cardiff Business Park Cardiff CF23 8AB Bankers Unity Tst Bank 4 Brindley Place Birmingham B12HB 13-
CYFANNOL WOMEN'S AID LIMITED TRUSTEES REPORT {CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Auditor In accordance with the company's articles, a resolution proposing that Azets Audit Services be reappoinled as auditors of the company will be pul al a General Meeting. Disclosure of information to auditor Each of the Iruslees has confirmed that there is no information of which they are aware which is levant lo the audit, bul of which the auditor is unaware. They have further confirmed that they have taken appropriate sleps to identify such relevant information and to eslablish that Ihe auditor is aware of such information. The Iruslees report was approved by the Board of Trustees. A Hodgson Chai Dated.. 14-
CYFANNOL WOMEN'S AID LIMITED STATEMENT OF TRUSTEES RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The trustees, who are also the directors of Cyfannol Vvomen's Aid Limited for Ihe purpose of company law, are responsible for preparing the Trustees Report and the financial slalements in accordance with applicable law and Unlled KingdDm Accounling Standards (United Kingdom Generally Accepted Accounting Praclicel. Company Law requiies the trustees lo prepare financial statements for each financial year which giv6 a Irue and fair view of the slate of affairs of the charity and of the iricoming resources and application of resources, including the income and expendilure, of the charilable company for that year. In preparing Ihese financial slalements. the trustees are requlred to.. select suitable accounting policies and then apply Ihem consistently- observe the methods and principles in the Charilies SORP- make judgemeiils and estimates Ihat are reasonable and prudenl- slate whether applicable UK Accounling Standards have been lollowed, subject lo any material departures disclosed and explained in the financial statements- and prepare the financial statements on the gotng concern basi5 unless it is inappropriate to presume thal the charity will conlillue in operation. The trustees are responsible for keeping adequate aGcounting reGords Ihal disclose with reasonable accuracy at any lime the financial position of the charity and enable them to ensure that the financial statemen Is comply with the Companies Act 2006. They are also responsible for safeguarding the assels of the chaiily and hence for taking reasonable steps for Ihe prevention and detection of fraud and other irregularities. The Iru8lees are responsible for the maintenance ar7d integrity of the charily and financial information included on the charity's website. Le91slation in the United Kingdom governing Ihe preparation and dissemination of financial slalemenls may differ from legislation in other jurisdictions. 15-
CYFANNOL WOMEN'S AID LIMITED INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF CYFANNOL WOMEN'S AID LIMITED Opinion We have audlted the financial statements of Cyfannol Women's Aid Limited (Ihe 'charity'} for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet, the slalement of cash flows and notes lo the financial slalemenls. including significant accounting policies. The financial reporting framework Ihat has been applied in Iheir preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Sland8rd 102 The Financial Reporting S18nd8rd applicab16 in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial slatemenls.. give a true and fair view of the slate of the charitable company's affairs as at 31 March 2024 and of ils incoming resources and application of reSoUrs, for the year then ended- have been properly prepared in accordan with United Kingdom Generally Accepted Accounting practi., and have been prepared in accordance with the requirements ol the Companies Act 2006. Basis for opinion We conducted our aLidit in accordance with International Slaridards on Auditing {UK) (ISAS IUKI} and applicable law. Our responsibilities under those standards are further described In the Audilorfs responsibillties for Ihe audit ol Ihe lin8nci21 stalemenls section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant lo our audit of Ihe financial statements in the UK. including the FRC'S Ethical Slandard, and we have fulfilled our other ethical responsibilities in accordance wilh these requirements. We believe that the audit evidencè we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions Telating to going concem In auditing the financial slalements, we have concluded that the Irustees use of the going concern basis of accounting in Ihe preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material unceriainlies relating lo events or condilions Ihal, individually or colleclively, may casl significant doubl on Ihe charity's ability lo crjnlinue as a going concern for a period of al least twelve months from when the financial statements are aulhorised for issue. Our responsibililies and the responsibilities of Ihe Iruslees with respect lo going concern are described in the relevant sections of this report. Other Informatlon The other information comprises the information included in Ihe annual report other than the finarrial slalements and our audiloi's report Ihereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover Ihe other information and we do not express any form of assurance conclusion Ihereon. Our respoi)sibility is to read the other information and, in doing so, consider whelher thè other informaliori is materially inconsislent with Ihe financial stalemenls or our knowledge obtained in the course of the audil, or Otheise appears to be malersally misstated. If we idenlify Such material inconsistencies or apparent material misstatements, we are required lo determine whelher this gives rise to a malerial misslatemenl in the financial statements themselves. If, based on the work we have performed, we conclude thal Ihere is a material misslalemenl of this olher information. we are required to report that fact. We have nothing to report in this regard. Matters on which we are required to report by exception We have nothing lo report in respect of Ihe folloiving mallers in relation lo which the Charities {Accounls and Reporisl Regulations 2008 require us to reporl lo you if, in our opinion.. the iiiformalion given in the financial statements is inconsistent in any material respect with the Iruslees report.. or sufficient accounting records have nol been kept., or the financial slalemenls are not in agreement wilh the accounting records: or we have not retteivod all the information and explanations wo require for our audit. 16-
CYFANNOL WOMEN'S AID LIMITED INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE TRUSTEES OF CYFANNOL WOMEN'S AID LIMITED Responsibilities of trustees As explained more fully in the statement of Iruslees responsibilities. the trustees, who are also the directors of the charity for the purpose 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 inlernal conlrol as the Iruslees determine is necessary lo enable the preparation of financial statements that are free from material misstalemenl. whether due lo fraud or efror. In preparing the financial slalements, the trustees are responsible for assessing the charity's ability to continue as a goin9 concern, disclosing, as applicable. malters related lo going concern and using the going concern basis of accounting unless Ihe Iruslees either intend to liquidate the charitable company or lo cease operations, or have no realistic allernalive but to do so. Auditor's responsibilities for the audit of the financial slatemenls We have been appointed as auditor under section 144 of the Charities Acl 2011 and report in accordance with Ihe Acl and relevant regulations made or having effect thereunder. Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misslalement, whether due to fraud or error. and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee th81 an audit conducted in accordance wilh ISAS {UK} will always delect a material misstatement when it exists. Misstatements can arise from fraud or error and are consideied material if, individually or in the aggregate, Ihey could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. A further description of our responsibilities is available on the Financial Reporting Council's website al.. htlps'.11 www.frc.org.uklauditorsresponsibilities. This descriplion forms part of our auditor's report. Extent to which the audit was considered capable of detecting irregularities, including fraud Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities. outlined above and on the Financial Reporting Council's website, lo detect malerlal misslatemenls in respect of irregularities, including fraud. We obtain an(J update our underslanding of the enlity, ils activities, ils control environment, and likely future developments, including in relation lo the legal and regulatory framework applicable and how the enlily is complying wilh Ihal framework. Based on Ihis underslanding, we identify and assess the risks of material misstalemenl of the financlal statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriale lo provide a basis for our opinion. This includes consideration of the risk of acts by the enlily Ihat were contrary to applicable Saw8 and regulations, including fraud. In response lo the risk of irregularities and non-compliance with lay and regulations. including fraud, we designed procedures which included.. Enquiry of managemenl and those charged with governance around actual and potential liligalion and claims as well as actual, suspected and alleged fraud- Reviewing tninutes of meetings of those charged wilh governance., Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financi81 slatemenls or the operations of the enlily through enquiry and inspection- Reviewing financial slalement disclosures and testing lo supporting documentation lo assess compliance wilh applicable laws and regulations. Performing audit work over the risk of management bias and override of controls, including lesling of journal entries and other adjustments for appropriateness, ev21u81ing the business r21ionale of significant transactions outside the normal course of business and revievling accounting eslimales for indicators of potenllal bias. Because of the inherent limifalions of an audit. there is a risk Ihat we will not detect all irregularities, Including those leading to a material misstatement in the financial slatemerits or non-compliance with regulation. This risk increases the more Ihal compliance with a law or regulation is removed from Ihe events and trarisactions reflected in the financial stalemenls, as we will be less likely to become aware of instances of norFcompliance. The risk of not detecling a material misslatÈmenl resulling Irom fraud 15 higher than for one iesullin9 from error, as fraud may involve collusion, forgery, inlen(ional omissions, misrepresentations. 01 the override of internal control. 17
CYFANNOL WOMEN'S AID LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF CYFANNOL WOMEN'S AID LIMITED Use of our report Tliis report is made solely lo the ch8rily's trustees. as a body, in accordance with part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might stale lo the charity's Iiuslees those malters wo ar6 required lo stale to Ihem in an auditor's report and for no other purpose. To Ihe fullesl éxtent permilled by law, we do nol accept or assume responsibilily to anyone other than Ihe charity and the charily's trustees as a body. for our audil work, for this report. or for Ihè opinions we have formed. Aw Azets Audit Serrfices 17 December 2024 Chartered Accountants statutory Auditor Ty Derw, Lime Tree Court Cardiff Gate Business Park Cardiff United Kingdom CF23 8AB Azets Audit Servlces is eligible for appoinlmenl as auditor of the charily by virlue of its eligibility for appoinlm6nt as audilor of a COTnpany under section 1212 ofthe Compani8s Act 2006. 18-
CYFANNOL WOMEN'S AID LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Reslri¢ted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Notes ome from. Donations and legacies Charitable activities Other trading activities Investments 49.308 2,721.039 49,308 4,379.960 62,287 2.809,711 62,287 4,361,129 1,658.921 1,551,418 11,766 23.671 11.766 23,671 14,617 5.421 14,617 5,421 Total income 2,805.784 1.658.921 4,464.705 2,892.036 1,551,418 4,443,454 Charitable activities 2,758.584 1,601.047 4.359.631 2,571,262 1,548,400 4,119,662 Net incoming resources before transfers 47.200 57,874 105,074 320,774 3,018 323,792 Gross transfers between funds 237,758 {237,758) (5,0141 5,014 Net incomol(8xp8ndltura) for the yearl Net movement in funds 284.958 (179,884) 105.074 315.760 8,032 323,792 Fund balances al 1 April 2023 2,377,036 308,599 2,685,635 2,061,276 300.567 2,361,843 Fund balances at 31 March 2024 2,661.994 128,715 2,790,709 2,377,036 308,599 2,685,635 The slalemenl of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from conlir)uing activities. The statement of financial activities also complies wilh the requiremenls for an income and expendituie accounl under the Cornpanies Act 2006. 19-
CYFANNOL WOMEN'S AID LIMITED BALANCE SHEET AS AT31 MARCH 2024 2024 2023 Notes Fixed assets Tangible assets Current assets Deblors Cash al bank and in hand 14 920.644 738.915 15 637,433 1.516.099 331.989 1,784,465 2.153.532 2.116.454 Creditors.. amounts falling due wlthln one year 16 (283,467) {169.734} Net current assets 1,870,065 1,946,720 Total assets less current liabilities 2.790,709 2,685,635 Income funds Restricted funds strict d f Designated funds General unrestricted funds 19 128.715 308.599 nr 20 1.203.763 1,458,231 910,907 1,466.129 2,661,994 2.377,036 2,790,709 2.685,635 The company is enlilled lo the exemption Irom the audit requirement contained in section 477 of the Companies Act 2006, for Ihe year ended 31 March 2024, although an audil has been carried out under section 144 of the Charities Act2011. The directors acknowledge their responsibililies for complying wilh Ihe iequirements of the Companies Act 2006 wilh respect lo accoursling records and th8 preparation of financial statements. The members have nol required the company lo obtain an audit of ils financial slatemenls under the requirements of Ihe Companies Act 2006, for the year in question in accordance with section 476. These financial slalement5 have been prepared in accordance with the provisions applicable to companies stsbjecl lo Ilie small companies Fegime. The fi ancial stalernenls were approved by the Tnjslees on . A Hodgson Trustee Company Registration No. 2995B05 -20-
CYFANNOL WOMEN'S AID LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operatin9 activities Cash (absorbed byllgeneraled from operalions 25 {63.655) 397,975 Investing actlvitles Purchase of tangible fixed assets Inveslment income received (228,382) 23.671 (81,877) 5.421 Net Cash used in investing activitie5 (204,711) 176.4561 Net cash used in financing actlvllles Not Idecrease)Ilncrease In cash and cash equlvalents (268,366) 321.519 Cash and cash equivalents at beginning of year 1,784,465 1.462,946 Cash and cash equivalents at end of year 1.516.099 1,784,465 21
CYFANNOL WOMEN'S AID LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounttng policiès Charity information Cyfannol Women's Aid Llmited is a private company limited by guarantee incorporated in England and Wales. The registered office is 3 Town Bridge Buildings, Park Road, Ponlypool, Torfaen, NP4 6JE. 1.1 Accountlng convention The financial stalemenls have been prepared in accordan with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing iheiT accounts in accordance wilh Ihe Financial Reporting Standard applicable ii) the UK and Republic of Ireland (FRS 1021 (effective 1 January 2019)" The charity is a Public Benefil Enlily as defined by FRS 102. The financial slalemenls are prepared in sterling. which is the functional currency of the charity. Monetary aniounls in these financial slalements are rounded to the nearest £. The financial slalemenls have been Pfepared under the historical cost convenlion. The principal accounting policies adopled are set out below. 1.2 Going concern At the lime Df approving the financial slalements, the truslees have a reasonable expectation that the charity has adequate resources lo continue in operational existence for the foreseeable future. Thus Ihe trustees continue lo adopt the going concern basis of accounting in preparing the financial stalemenls. 1.3 Charitable funds Unreslilcted funds are available for use al Ihe discretion of the Iruslees in furtherance of their charilable Gbjeclives. Designatèd funds comprise funds which have been sel aside at the discretion of the trustees for stEcific purposes. The purposes and uses of Ihe designated funds are set out in Ihe notes to the fi'nancial slalemenls. Reslricled funds are subject to specific condilions by donors as to how they may be used. The purtK)ses and uses of the reslricted fund5 are set out in the notes to Ihe financial statements. 1.4 Income Income is recognised when tho charily is legally entitled lo il after any performance condition5 have been met, the amounls can be measured rellably, and it is probable that income will be received. Cash donations are recognised on receipt. other donalions are recognised once th& charity has beon notified of Ihe donation, unless performance conditions reqL¢ire deferral of the amounl. Income lax recoverable in relation lo donations received under Gift Aid or deeds of covenanl is recognised at the lime of the donation. Income frorn grants, whether 'capilal' grants Dr 'revenue' granls. is recognised when the charity has enliilemenl lo the funds, any performance conditions attached to the grants have been mel, it is probable that the income will be received and the amount can be measured reliably and is not delerred. Capital grants are released lo the Slalemeiil of Financial Activilies in the year of receipt. Fixed assets relating to capilal granls are capilalised, and depreciation charged is offset againsl the grant income, in a restricled fund. 22-
CYFANNOL WOMEN'S AID LIMITED MOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) Investment income is included when receivable. Rental income and housing benefit income is accounted for in the period lo which the service has been provided. No amounts are included in the financial statements for seFvices donated by volunteers. Turnover is measured al Ihe fair value of the consideralion received or receivable and represents amounls receivable for goods and services provided in the normal course of business, nel of discounts. VAT and other sales related taxes. 1.5 ExpenditUTe Expendituie is recognised once there is a legal or conslructive obligalion lo make a payment to a third parly. it is probable that settlement will be required and the arnount of the obligalion can be measured reliaily. Irrecoverable VAT is charged as a cosl against the activity for which the expenditure was incurred. Costs are allocaled between the different categories according to the nature of the cost. Where costs are shared. they are apporiioned beiweon the calegories on a basis consislent with the use of Ihe iesources. Chafilab1e expenditu comprises those costs incurred by the charity in the delivery of ils activities. includes both costs that can be allocated directly lo such activities and Ihose cosls of an indirecl nature necessary lo support them. Governance costs include those costs associated wlth meellng the conslilutional and stalulory requirements of the charity and include the audil fee and costs linked to the slralegic management of the charity. Support costs iiiclude central functions and have been allocated to activity Cost categories on a basls consistent wilh the use of resources. 1.6 Tangible fixed assets Tangible lixed assets are inilially measured at cost ar subsequently measured al cost or valu81ion, net of depreciation and any impairment losses. Depreciation is recognised so as lo write off Ihe cost or vallsalion of assets less their residual values over their useful lives on the following bases.. Refuges Offjice equipment Fixtures, fillings & therapy shed Motor vehicles 2% on cost 25QA on cost 250A on cost 25¢A on net tK)ok value The gain 01 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 Ihe statement of financial aclivilies. It is the charity's policy to not capitalise cotnputer equipmenl where the individual value of the item does not exceed £2.000. 1.7 Impalrment of Ilxed assets At each reporting end dale, the charity reviews the carrying amounts of its tangible assets lo delermine whelher there is any indication that Ihose assets have suffered an impairment loss. If any such indallOn exists. the recoverable amounl of the assel is eslimaled in order lo determine the exlenl of Ihe impairment loss (if any). -23-
CYFANNOL WOMEN'S AID LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) 1.8 Cash and cash equivalents Cash and cash equivalents indude cash in hand, doposits held at call wilh banks, other short-term liquid inveslmenls with original malurilies ol three tnonlhs or less. and bank oveidrafts. Bank overdrafts are sliown within borrowings in current liabililies. 1.9 Financial instruments The charity has elecled lo apply the provisions of Section 11 'Basic Financial Instruments, and Seclion 12 'Olher Financlal Inslrumenls Issues. of FRS 102 to all ol ils financial inslrumenls. Financial instruments are recognised in the charitrfs balance sheet when the charity becomes party lo the contractual provisions of Ihe instrument. Financial assets and liabilities are offset, with the nel amounls presented in Ihe financial slalemenls. when there is a legally enforceable right lo sel off the recognised amounts and there is an intention lo setlle on a ne¢ basis or to realise the asset and settle Ihe liability simultaneously. Basic flnancial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured al transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the Iransaclion is measured al Ihe present value of the future receipts discounted at a market rale of inleresl. Financial assets clasgified as receivable wilhin one year are not amortised. Derecognition offinancial assets Financial assets are derecognised only when the contractual rights lo Ihe cash flows from the asset expire or are sellled, or wheii the charity transfers the financial asset and substantially all the risks and rewards of ownership lo anolher enlily, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able lo sell the assel in its entirety to an unrelated third party. Basic financial liabilAtles Basic financial liabilities, including creditors and bank loans are initially recognised al transaction price unless the arrangement conslilules a financing transaction. where the debt instrument is measured 81 the present value of the future payments discounled al a market rate of interest. Financial liabilities classified as payable wilhin one year are not amortised. TTade creditors are obligations lo pay for goods or seNices that have been acquired in Ihe ordinary course of operatlons from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presenled as non-currenl liabilities. Trade creditors are recognised initially 21 Ir8nsaclion Price and subseqLtenlly measured al amortised cosl using the effective inlere81 method. Derecogni(ion of linancial liabilities Financial liabililies are dereco9nised when the charity's conlraclual obligations expire or are discharged or cancelled. 1.10 Employee benefits The costs of short-lerm employee benefits are recognised as a liability and an expense, unless those costs are required lo be recognised as part of the cosl of stock or fixed assels. The cost of any unused holiday enlillement is recognised in Ihe period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide terminallon benefits. -24-
CYFANNOL WOMEN'S AID LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) 1.11 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. 1.12 Taxation As a registered charity. Cyfannol Women's Aid Ltd is entitled to the exemption from taxatlDn in respect of income and capital gains received with sections 478-489 of the Corporation Tax Acl 2010 and seclion 256 of Ihe Taxation of Chargeable Gains Act 1992 lo the extent that these are applied lo ils charitable objects purposes only. 1.13 Operatlng leases Rentals payable under operaling leases. are charged as an expense on a straighl line basis over Ihe term of the relevant lease. Critical accounting estimates and judgement5 In the application of Ihe charity's accounting policies, the Iruslees are required lo make judgements, eslimales and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The eslimales and associated assumptions are based on historical experience and Dlher factors Ihal are considered lo be relevanl. Actual results may differ from these eslimales. The estimates and underlying assumplions are reviewed on an ongoing basis. Revisions lo accounling eslimates are recognised in the pefiod in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where Ihe revision affects both current and future periods. Donations and legacies Unrestricted Unreslficled funds funds 2024 2023 Donations and gifts 49.308 62,287 25-
CYFANNOL WOMEN'S AID LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 other trading activilies Unrestricted Unrestrtcted funds fund5 2024 2023 Other income 11.766 14,617 26-
CYFANNOL WOMEN'S AID LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charitable activities 2024 2023 Grants Rents and service charge income 3.069,862 3,193,411 1,310,098 1,167,718 4,379,960 4,361.129 Analysi5 by fund Unreslrlcled funds Restricted funds 2.721.039 2,809,711 1.658.921 1,551,418 4,379,960 4.361.129 Grants Torfaen County Borough Council BBC Children in Need The National Lottery Communily Fund Gwent Police and Crime Commissioners MonmDulhshire County Council Newport City Council Blaenau Gwent County Borough Council Violence Against Women, Domestic Abuse and Sexual Violence I WG Violence Against Women, Domestic Abuse and Sexual Violence Ministry of Justice Welsh Women's Aid Welsh Govemmenl VAWDASV capital granl Welsh Government Hodge Foundation High Sheiiff of Gwent Home OlC2 cyp Turn2Us South Wales Police and Crime Commissioners Wallich Olher 458.935 41,115 197.702 206.834 143,723 263,701 475,311 499,181 49,460 370,469 186,027 183,559 312,542 442,338 151,228 19,674 214,017 60,663 71,339 198.885 629,982 15,000 619,762 14,037 5,000 31,118 500 262,021 25,200 22,718 44.601 12,795 33,838 3,069.862 3,193.411 -27-
CYFANNOL WOMEN'S AID LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Investments Unrestricted Unrestrictod funds funds 2024 2023 Interest receivable 23.671 5,421 Charitable activities 2024 2023 Slaff costs DepreGialion and impairment Other staff cosls Premises costs Office costs Repairs and renewals Insurance Legal, consultancy. professional and HR costs Subscription and membership fees Bank and credit card charges Resources Accommodation costs Donalions 1.755.404 1,804,958 46,653 38,910 260,886 248,606 6,140 35,925 71,073 101,892 3,427 10,576 12,804 7,388 9,822 27.725 1,089 7.729 445 93,122 602,204 1.191 107,658 674,235 1,519 2,950,710 2,980,671 Grant funding of activities (see nole 8) 528.010 427.938 Share of support costs (see note 9) Share ol governance costs {see note 9) 856.624 24,287 699.781 11,272 4,359,631 4,119,662 Analysis by fund Unrestricted funds Restricted funds 2,758,584 2,571,262 1,601,047 1,548,400 4.359,631 4,119,662 -28-
CYFANNOL WOMEN'S AID LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Grants payablo 2024 2023 Granls to institutions.. Calan DVS Cardiff Womens Aid Gorwel Wesl Wales Domestic Abuse Service RASASC Other 159,792 92.582 111,315 99,431 57,390 7.500 125.097 106,936 80,985 103,733 11,187 528.010 427,938 -29-
CYFANNOL WOMEN'S AID LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support costs Support Govemance costs costs 2024 Support Governance costs costs 2023 Staff costs other staff costs Premises costs Office costs Repairs Insurance Legal, consultancy and professional fees Subscripliorj and membership fees Bank and Gredil card charges Resources Accomodation costs 471.185 95,531 125.531 125.941 11.121 4,923 471.185 95.531 125.531 125.941 11.121 4,923 376,973 26.657 115,023 135.549 762 11.532 376.973 26.657 115,023 135,549 762 11,532 9.950 9,950 21.157 21,157 5,220 5,220 3,647 3,647 2,068 4,062 1,092 2.068 4,062 1,092 1,118 83 7,280 1,118 83 1,280 Audit & accountancy AGM, Iruslee training and other costs 22,293 22,293 8,160 8.160 1,994 1.994 3.172 3,112 856,624 24.287 880,911 699,781 11,272 711,053 Analysed between Charitable aclivilies 856.624 24.287 880,911 699,781 11,272 711,053 Governanc8 costs includes payments to the auditors of £15,329 (2023- £7,160) for audit fees and £6,964 (2023.. £1.000) for accountancy fees. Contained within legal, consultancy and professional fees are payroll services provided by the auditor of £4,018 {2023= £3,247). 10 Net movement in funds 2024 2023 Nel movemenl in funds is slated after chargingl(crediling) Fees payable to the company's audilor for Ihe audit of Ihe company's financial slalemenls Depreciation of owned tangible fixed assets 22,293 46.653 8,160 38,910 11 Trustees None of the Iruslees (or any persons connected with them) received any remuneralion 01 benefits from Ihe charity during the year. No Iruslees were reimbursed for expenses during the current or prior year. -30-
CYFANNOL WOMEN'S AID LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 12 Employees The average monthly number of employees during the year was: 2024 Number 2023 Number Total staff 94 96 Employment Costs 2024 2023 Wages and salaries Social security costs Other pension costs 2,016,963 171.452 38,174 1,971,941 171,386 38,604 2,226,589 2,181,931 Key management personnel The key tnanagement personnel of the charity durtng the perlod are noled in the trustees report. The total employee benefits received by Ihe key managemènt personnel during the year was £316,178 (2023.. £352,078). Redundancy The charity paid redundancy costs to the value of £32,654 during the year {2023: £nil). There were no amounls outstanding al the cuTrenl or prior year end. Pensions The company operates a defined contribulion pension scheme. The assets of the scheme are held separalely from those of the company in an independently administered fund. The pension cosl charge represent5 contributions payable by the company to the fund. The total contributions paid by the charily during Ihe year tolalled £38.174 (2023.. £38,604). There were amounts outstanding al the year end of £6,883 (2023.. £6,414)- The number of employees whose annual remuneration was more than £60.000 is as follows- 2024 Number 2023 Number £60.001 to £70,000 13 Taxatlon The charity is exempt fiom lax on income and gains falling wilhln section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the exlenl that Ihese are applied to ils tharitable objects. 31
CYFANNOL WOMEN'S AID LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 14 Tangtble fixed assets Refuges Fixluies, MotQT vehlcles fittings & therapy Shed Total Cost Al 1 April 2023 Additions 669,245 224.349 141,384 4,033 37,289 847,918 228,382 Al 31 March 2024 893,594 145,417 37,289 1,076,300 Depreciation and Impairrnent At 1 April 2023 Depreciation charged in Ihe year 52,172 15,224 44,242 25,254 12,589 6,175 109,003 46,653 At 31 March 2024 67,396 69,496 18.764 155,656 Carrylng amount At 31 March 2024 826,198 75.921 18.525 920,644 At 31 March 2023 617.073 97,142 24,700 738,915 15 Deblors 2024 2023 Amounts falllng due within one year: Trade debtors Other debtors Prepayments and accrued income 380,319 27,839 229,275 110.853 1,015 220.121 637.433 331,989 16 Creditors: amounts falling due wtthin one year 2024 2023 Notes other taxation and social security Deferred income Trade creditors Other creditors Accruals 29,596 40,119 10.513 77,528 8,256 33.318 18 205,310 8,788 39.773 283,467 169,734 -32-
CYFANNOL WOMEN'S AID LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Retlremont benefit schemes Defined contribution schemes The charity operates a defined contribution pension scheme for all qualifying employees. The assels of the scheTne are held separately from those of the charity in an independenuy administered fund. The charge to profit or loss in respect of defined conlribubon schemes was £38,17412023 - £38,604}. 18 Deferred Income 2024 2023 Arisir¥g from grants 10.513 10,513 Deferred income is included in the financial statements as follows: 2024 2023 Balance brought fOard Income received Income released 10,513 21,228 359,754 1370,469) (10,513) Balance carried forward 10,513
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CYFANNOL WOMEN'S AID LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 22 Share capital The company is limited by guarantee and has no share capital. Each director of the company has agreed Ihal. in the event of a winding-up, they will contribute an amount not exceeding £1 tDwards any shortfall. 23 Operating lease commitments At the reporting end date the charity had oulslanding commilments for future minimum lease payments under non-cancellable operating leases, which fall due as follows-. 2024 2023 Within one year Between two and five years In over five years 11.925 19,366 5,909 40.326 6,705 37.200 47,031 Lessor At the reporting end date Ihe charity had contracted with tenants for the following minimum lease paymenls.. 2024 2023 Wilhin one year 459 459 24 Related party transactions There were no disclosable related party transactions during the year (2023 - none). 25 Cash generated from operations 2024 2023 Surplus for the year 105.074 323.792 Adjlfslments for: Investment income recognised in stalement of financial activities Depreciation and impairment of tangible fixed assets 123,671) 46,653 (5,421) 38,910 MoveTllenls in working cBpilal- {Increaselldècrease in debtors Increasel{decreasel in credilors (Decrease) deferred income (305,444) 124,246 (10,513) 99,487 {48,078) 110,715) Cash (absorbed by)Igenerated from operations (63.655) 397.975 -40-
CYFANNOL WOMEN'S AID LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 26 Analysis of changes in nÈt funds The charity had no debt during Ihe year. 41