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← Vision 21 (Cyfle Cymru)

2022-03-31-accounts

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VISION 21 | CHANGING LIVES

COMPANY NUMBER: 3045325 REGISTERED CHARITY NUMBER; 1046097

VISION 21 (CYFLE CYMRU) (A COMPANY LIMITED BY GUARANTEE)

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2022

VISION 21 (CYFLE CYMRU)

REPORT OF THE TRUSTEES AND DIRECTORS TO THE MEMBERS OF VISION 21 (CYFLE CYMRU) YEAR ENDED 31 MARCH 2022

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|||||||| |---|---|---|---|---|---|---| |Page| |LEGAL AND|ADMINISTRATIVE|INFORMATION|3| |REPORT OF|THE|TRUSTEES AND|DIRECTORS|4-12| |INDEPENDENT AUDITORS|REPORT|T2=|46| |STATEMENT OF|FINANCIAL|ACTIVITIES| |(INCLUDING THE INCOME AND|EXPENDITURE ACCOUNT)|16| |BALANCE|SHEET|17| |CASH|FLOW|STATEMENT|18| |NOTES TO|THE|FINANCIAL|STATEMENTS|19|-|31|

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VISION 21 (CYFLE CYMRU)

REPORT OF THE TRUSTEES AND DIRECTORS TO THE MEMBERS OF VISION 21 (CYFLE CYMRU) YEAR ENDED 31 MARCH 2022

VISION 21 (CYFLE CYMRU)

LEGAL AND ADMINISTRATIVE INFORMATION YEAR ENDED 31 MARCH 2022

Directors and Trustees

Alan Pursell (Chair) Michael Clark (Vice Chair) Clare Cooze (Treasurer) Michael Winter Barry Shiers MBE John Grimes

Secretary

Wayne Lewis

Chief Executive Officer

Wayne Lewis

Registered Office

Unit 12 Fieldway Maes-y-Coed Road Heath Cardiff CF14 4HY

Company Number

3045325

Registered Charity Number 1046097

Auditors

HSJ Audit Limited

Severn House Hazell Drive Newport NP10 8FY

Bankers

Lloyds Bank City Branch 45 Newport Road Cardiff CF24 OTW

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VISION 21 (CYFLE CYMRU)

TO THE MEMBERS OF VISION 21 (CYFLE CYMRU) YEAR ENDED 31 MARCH 2022

A message from the Chair and Chief Executive

Welcome to Vision 21's annual report for the year ended 31% March 2022, the report concentrates on Vision 21’s performance in 2021/22.

The year has seen the start of the rebuilding of the organisation after the pandemic. We have taken on new staff and said goodbye to old ones who have left for pastures new. We want to thank the staff, trainees and volunteers for their resilience, ingenuity and constant support of Vision 21. Without these wonderful people, we wouldn't be the organisation we are.

The rebuilding, as always, started with our trainees and staff. The trainees have always had input into what we do as an organisation, but the last few years have shown that their input is now more important than ever and together we will shape the direction we move in. More of their ideas and designs are being used in the products we make and sell and it is great to see their pride and selfesteem grow.

Moving through the pandemic in the last twelve months has not been easy. There has been a great deal of uncertainty around the rules imposed by the Welsh government and moving in and out of lockdowns. This got more difficult when the rules for those working in social care, was different from the rest of the UK public. This caused issues for trainees and staff alike, as the constant switching from day to day life and “Vision” life was confusing and frustrating. This did result in some parents and carers becoming distressed at the differences, but as always, our staff helped to support them through this difficult time.

We are very lucky to have the support and understanding of some brilliant local authorities, who have worked with us tirelessly to make sure that we can continue to support those who need it most and makea difference to the lives of not only our trainees, but also their families and friends.

We have had grants in 2021/22 from Children in Need and Cardiff and the Vale College (CAVC). Both of these grants have allowed us to continue to support people with learning disabilities in environments that allow them to grow and prosper. The grant from CAVC in particular, allowed us to make improvements to The Lodge on Allensbank Road and will go some way to futureproofing the organisation by helping make the building safer and more suitable for use by staff and trainees. Thank you for your support.

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VISION 21 (CYFLE CYMRU)

REPORT OF THE TRUSTEES AND DIRECTORS TO THE MEMBERS OF VISION 21 (CYFLE CYMRU) YEAR ENDED 31 MARCH 2022

To everyone who has donated to us this year, be it time or money, thank you.

We would like to especially thank all of our Trustees for their continued commitment to the organisation and for helping make Vision 21 the best it can be. The Chair and CEO are very proud to be part of such a wonderful organisation.

Alan Pursell, Chair

Wayne Lewis CEO

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VISION 21 (CYFLE CYMRU)

TO THE MEMBERS OF VISION 21 (CYFLE CYMRU) YEAR ENDED 31 MARCH 2022

The Trustees present their report and audited financial statements for the year ended 31 March 2022.

Structure, Governance and Management

Vision 21 (Cyfle Cymru) is a charitable company limited by guarantee, established under a Memorandum of Association, which defines the objectives and powers of the company; it is governed under its Articles of Association. Vision 21 (Cyfle Cymru) is a registered charity. Reference and administrative information The company and charity numbers, the registered office and details of the Trustees and Chief Executive can be found found on page 3 of these these financial statements. Objectives and Activities Vision 21 (Cyfle Cymru)’s charitable objectives and principal activity is to advance the education of disabled persons and those with learning disabilities in particular, by providing environments in which they may be trained in vocational skills with a view to finding employment, so that they may play a full part in the community. In order to fulfil the objectives Vision 21 provides vocational training in 11 different projects that operate as social enterprises and 2 teaching projects; vocational areas covered include catering, horticulture, woodwork, crafts and pottery, retail and office skills, with teaching in ICT.

The company and charity numbers, the registered office and details of the Trustees and Chief Executive can be found found on page 3 of these these financial statements.

Recruitment and Appointment of Board of Trustees

The Directors of the company are also charity Trustees for the purpose of charity law.

All Board of Trustee positions are subject to receipt of satisfactory references, DBS checks and compliance with our declaration of eligibility. New Trustees are required to apply in writing and attend an interview; successful candidates attend as observers for three consecutive Board meetings before being co-opted to the Board.

Trustees Induction and Training

Trustees receive induction training covering background information and the work of the Board. Informal meetings and attendance at committees are encouraged followed by a formal process of application and selection. Additional training is offered from time to time, which contributes to the effectiveness and skills of our Trustees.

Risk Management

The Trustees and senior staff identify and review the major risks to which they believe the charity is exposed. These relate particularly to finance, health and safety, staffing and safeguarding. These risks are mitigated by having clear and robust policies, strong interna! controls and by maintaining adequate reserves to provide sufficient resources in the event of adverse conditions.

Organisational Structure

Vision 21 (Cyfle Cymru) is governed by a Board of Trustees that takes overall responsibility for its work and delegates day to day management and medium-term development to the Senior

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VISION 21 (CYFLE CYMRU)

TO THE MEMBERS OF VISION 21 (CYFLE CYMRU) YEAR ENDED 31 MARCH 2022

Management Team led by the Chief Executive. The Trustees meet regularly to manage the charity's affairs, meetings will take place quarterly, with item specific meetings in between as needed. Our Staff

We would be unable to deliver outstanding and innovative vocational training without the hard work, dedication loyalty and support of our staff. We currently employ around 46 members of staff (2021 -50) who represent the equivalent of 35 (2021 - 40) full time employees. We aim to encourage and support them to realise their full potential.

Their dedication, passion and commitment to Vision 21 and its trainees is exceptional.

Volunteers

Over the years Vision 21 has been fortunate to be supported by an army of regular volunteers, plus those who volunteer as part of their education and training, and corporate volunteers who help on our projects or at special events. This has been somewhat impacted by the pandemic but has started to grow again and we have had the privilege of meeting some wonderful new people.

Throughout the year we helped support 10 work placements, 7 social work undergrads from Cardiff Met and 3 Art Psychotherapy post grads from USW. During their time with us, they learned so much from our trainees and staff and went away with a much better understanding of people with learning disabilities and what they are capable of. This is massively important for ALL future social workers and anyone working within the health and social care sector, and Vision 21 will continue to support this the best we can.

Since the start of the year, we have welcomed back 15 regular volunteers into our projects, some old, some new. They have been a great help to trainees and staff alike and brought with them a fresh perspective and an eagerness to not only learn but pass along their skills as well.

We would like to thank the incredible TR33 who helped with an issue we had with a forty foot poplar tree that was encroaching on one of our neighbours property. Not only did they provide a brilliant service and helped make the tree safe, they did it for free because they love what we do as an organisation. Another army of corporate volunteers who helped us out at Sbectrwm was the staff from Wates. They dismantled one large poly tunnel, a twenty foot shed that was rotten and filled two large skips with rubbish. They also paid for the skips!

We have been incredibly fortunate as an organisation over the years, to attract such brilliant people, who want to give up their time and use their skills and knowledge to benefit our trainees and our projects. The Board, staff team and trainees are extremely grateful to all our volunteers and can’t wait to continue to build on the work we've done together.

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VISION 21 (CYFLE CYMRU)

TO THE MEMBERS OF VISION 21 (CYFLE CYMRU) YEAR ENDED 31 MARCH 2022

Achievements and Performance

Due to the pandemicwe setthefollowing priorities for 2021/22:
ee
Respond~tothe crisis toensurethe
Vision 21's Covid Policy is a livedocument that		 Due to the pandemicwe setthefollowing priorities for 2021/22:
ee
Respond~tothe crisis toensurethe
Vision 21's Covid Policy is a livedocument that
safetyandwellbeing ofourtrainees, isconstantly being updated and refined
staffandvolunteers. depending onthecurrentgovernmentadvice.
Wehave maintained throughout the last
twelve months guidelines that helped keep our
people safeand limitthe spread ofcovid 19.
In addition to this,we bought 11 air purifiers
forthe winter monthswhen the airflow in
projects would be reduced dueto cold
weather. Wesupported our staffand trainees
in being vaccinated and supplied masks, visors
and lateral flow tests.
Recover—thebusinesswhenWelsh All ofour projectsreopened in the lasttwelve
Government instructions allowby re-
months, with all butone projectwelcoming
openingour projectswhilstfollowing		 trainee’s back. Trainees returned to projects in
WelshGovernment rulesandguidance
in relation toCovid 19. distancing. Training restartedand production
ofproducts started to begin again.
Regrow-thefinal partofthestrategy Asmentioned, trainingand production has
willbetoregrowthecharity;although
not likelyto be implemented in moretimeto developnewproduct lines,new
2021/22. productdesignsand trynewareas oftraining.
This regrowth will continue through 2022/23
andbeyond.

We set the following longer term strategic objectives: To ensure the financial stability of Vision 21 by maximising our income from all sources and seeking maximum diversity in income sources. To ensure that Vision 21 complies with all the applicable parts of the Social Services and Wellbeing Act

To adopt best practice in the way that the charity is governed and managed These objectives underpin our strategic priorities with the aim of continuous improvement in our service to those with learning disabilities. The staff and volunteers share our values, ethos and a sense of pride in being able to empower trainees and make a positive difference to their lives. These are articulated in Vision 21's values which are:

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VISION 21 (CYFLE CYMRU)

TO THE MEMBERS OF VISION 21 (CYFLE CYMRU) YEAR ENDED 31 MARCH 2022

Happy __We put trainee’s happiness at the heart of everything we do.

Together \Ne work together to be the difference.

Change We embrace change to be the best.

Quality We provide quality in everything we do.

We aim to be a leader in Wales for vocational training for those with learning disabilities and a model of best practice in social enterprise.

Financial Review

The net movement in funds for the year amounted to an increase of £257,723 compared to an increase of £409,795 in 2021. Overall incoming resources decreased by £241,018 (2020 - decrease of £50,532) from £2,047,837 to £1,806,819. Much of this difference was due to the furlough scheme ending in September, and staff returning from furlough during the year as we were able to open up more of our projects post lockdown.

Trustees decided that some of the reserves gained during furlough should be reinvested into the staff teams through a planned 3 year wage increase. This would not only support staff through financially difficult times, but to also help move the organisation towards becoming a “real living” wage employer and help Vision 21 retain staff and be more attractive in the jobs market. From 2022/23 to 2024/25 a planned increase of 6% (22/23), 4% (23/24) and 4% (24/25) will be budgeted for, with £114,703 of reserves being highlighted for use to support this increase.

The proportion of income from sustainable sources (comprising student fees, primary purpose trading and rental income) was 83% in 2022 compared to 66% in 2021 (£1,510,765 in 2022 compared to £1,430,675 in 2021), this increase in sustainable income is due to students in supported accommodation returning to projects while the Local Authorities continued to support us by paying for some sessions unattended, rental income and sales from trading activities also increased by £14,811 and £43,589 respectively.

The charity continued to receive support from Cardiff Council towards its training projects. Income from a franchise agreement with Cardiff and the Vale College provided £117,031 (2021 - £117,032) of funding to support the education of students.

Expenditure during the period primarily supported the training of students and the trading activities of the social enterprises.

We plan to develop and invest in our current projects in 2022/23, three areas we will look to develop and improve are:

Community Garden

This is another priority for the next 12 months. A great deal of work has been carried out so far, with a great deal more to go. We havea brilliant new member of staff at the Garden project, who has brought with them a new energy and desire to make the project the best it can be. The focus will be

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VISION 21 (CYFLE CYMRU) TO THE MEMBERS OF VISION 21 (CYFLE CYMRU) YEAR ENDED 31 MARCH 2022

on making the garden more accessible for everyone, with a new patio area and paths being laid. An accessible stage is being planned, along with a new retail area being created.

Technology Craft Project

Again another priority for the next twelve months. There is a brand new staff team within this project, with a diverse skills, knowledge and experience. The focus will be on planning out the best use of space, trying out new areas for training and learning and getting trainees to work together by planning work and carrying out various tasks with a specific end. For example, there are plans for creating films that can be used to market Vision 21 and tell the world about what we do.

Being more environmentally friendly

Like a lot of organisations, we are aware of our environmental impact on the world and how we can keep this as minimal as possible. In the next twelve months, we hope to install solar panels at Sbectrwm, improve our heating systems and upgrade any of our electrics to make them more energy efficient.

The charity strives to maintain unrestricted funds, which are free reserves of the charity, at a level which equates to approximately six months unrestricted expenditure of £870,000 (2021 - £900,000). The charity maintains reserves to:

Free reserves are the unrestricted funds of the charity less any funds that could only be realised by disposing of fixed assets held for charity use. As of the 31* of March 2022 free reserves of the charity were £1,440,000 (2021 - £1,007,000) this is above the level set out in our policy by £570,000 (2021 — above by £107,000) which gives us currently around 10 months running costs which is a great position to be in with potential uncertain times ahead post the pandemic and with large increases in general running costs expected especially in food and utility costs.

Investment Policy

Vision 21's investment policy is to place funds not required for immediate use on short or medium — term deposit with UK institutions that provide security and flexibility at low risk.

Remuneration Policy

Our approach to remuneration is designed to ensure that we can attract and retain the talented and motivated people we need to achieve our mission and deliver our strategic goals. It is applied consistently across the organisation, including the Key Management personnel. We aim to pay within benchmarked ranges for the sector and within the context of affordability.

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VISION 21 (CYFLE CYMRU) TO THE MEMBERS OF VISION 21 (CYFLE CYMRU) YEAR ENDED 31 MARCH 2022

Future Strategy

The strategy for the next twelve months will revolve around re-growing our existing projects and making them as financially viable as possible. A large part of this will rely on getting the trainee numbers back to where they were pre Covid, or as close as possible and spending our money wisely. We will look to invest in both our staff and their projects and give them the tools they need to be the best they can be and to build on the work we already do.

As always, we will work with the local authorities and respond to any needs identified by them and their citizens. We will continue to work with our trainees to make sure what we offer in terms of service is relevant, needed and of a quality that our trainees deserve. We will continue to be responsive and adaptable and support our people when they need.

The priorities we will set will be:

Public Benefit Statement

The charity’s objective and principal activity is the education and training of adults with learning disabilities, by providing training in vocational skills in real work settings, that develop ability, confidence and social skills. In 2021/22 over 300 adults with learning disabilities have benefitted from our training in ten social enterprises and two teaching projects. As well as learning vocational skills, trainees gain in confidence, improve their skills in reading, writing, ICT and learn social skills such as teamwork and customer care.

As a community and locally based charity there is a wider benefit in that the community embrace and support the work of Vision 21 (Cyfle Cymru). In return, the local communities benefit from our training and our social ethos. In 2021/22 we provided work experience and training for students studying Social Work, Psychotherapy, Nursing, Teacher training, Health and Social Care and students from Cardiff University’s School of Social Science and school students on work experience. Due to the pandemic, this was put on hold. However, with projects reopening and trainees returning, we will once again look to help support and mentor the social care staff of the future. We are also involved with the local business community, with organisations such as Companies House and United Welsh Housing, providing much welcomed volunteers to Vision 21 as part of their own staff development. The Sbectrwm Community Centre, as a community resource, attracted over 28,000 visitors in the year ended 31 March 2022.

A key aim of the charity is to promote awareness and contact between those with learning disabilities and the public. We do this by making sure that our trainees are visible and active as part of the community. Our trainees serve the public in our admin project, garden nursery and catering projects and work on public facing projects such as Cardiff parks and gardens; trainees also staff our stalls in Christmas markets and help with the delivery of products and services. The more involvement our

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VISION 21 (CYFLE CYMRU)

TO THE MEMBERS OF VISION 21 (CYFLE CYMRU) YEAR ENDED 31 MARCH 2022

trainees have with a wide range of people and organisations the better the understanding and acceptance of those with learning disabilities. This is something we look to build on once the impact of the pandemic has diminished and it is safer to do so.

The Trustees have referred to the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.

Responsibilities of the Board of Trustees

Company law requires the Board of Trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing those financial statements, the Board of Trustees should follow best practice and:

The Board of Trustees is responsible for maintaining 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. The Board of Trustees is 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.

Members of the Board of Trustees

In accordance with company law, as the company’s Directors, we certify that so far as we are aware, there is no relevant audit information of which the company's auditors are unaware. We confirm that we have taken all the necessary steps in order to make ourselves aware of any relevant audit information and to establish that the charity's auditors are aware of that information.

This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (FRS102) and in accordance with the requirements of the Companies Act 2006.

Approved by the Board of Directors and Trustees on 01/12/2021 and signed on its behalf by:

Alan Pursell - Chair Date:

Clare Cooze - Treasurer

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VISION 21 (CYFLE CYMRU)

TO THE MEMBERS OF VISION 21 (CYFLE CYMRU) YEAR ENDED 31 MARCH 2022

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF VISION 21 (CYFLE CYMRU)

Opinion

We have audited the financial statements of Vision 21 (Cyfle Cymru) (the ‘charitable company’) for the year ended 31 March 2022 which comprise Statement of financial Activities, Balance Sheet, Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (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 Auditor’s 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 other information comprises the information included in the trustees annual report’, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report®. 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. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with

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VISION 21 (CYFLE CYMRU) TO THE MEMBERS OF VISION 21 (CYFLE CYMRU) YEAR ENDED 31 MARCH 2022

the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

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 strategic report and the directors’ report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement [set out on page 12], 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.

Auditor’s 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 an auditor’s report 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

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VISION 21 (CYFLE CYMRU) REPORT OF THE TRUSTEES AND DIRECTORS TO THE MEMBERS OF VISION 21 (CYFLE CYMRU) YEAR ENDED 31 MARCH 2022

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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.fre.org.uk/Our-Work/A udit/Audit-and-assurance/Standards-andguidance/Standards-and-guidance-for-auditors/Auditors-responsibilities-for-audit/Description-ofauditors-responsibilities-for-audit.aspx. This description forms part of our auditor’s report. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

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 auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume resnonsibility to anyone other than the charitable company and the charitable company’s members as“@’bodv. for ouvzaudit work, for this report, or for the opinions we have formed.

MrlAndrew Hill FCC& ACA DChA BFP (Senior Statutory Auditor) For and on behalf of HSJ Audit Limited, Statutory Auditor

Signature: Md. CTF

Severn House, Hazell Drive, Newport, NP10 8FY

Date: 12/ 1D/ 2027.

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VISION 21 - CYFLE CYMRU

INCLUDING THE INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2022

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

All income and expenditure derive from continuing activities. derive from continuing activities. derive from continuing activities. derive from continuing activities.
a Oe OT!
Total Total
Unrestricted Restricted Funds Funds
Funds Funds 2022 2021
£ £ £ £
Notes
INCOMEAND ENDOWMENT FROM
Donationsand legacies:
Grants receivable 3 8,820 142,141 150,961 475,213
Donations 4 21,588 - 21,588 19,455
Investment income:
Bank interest 5 152 - 152 3,463
Charitable activities:
Grants receivable 3 117,031 - 117,031 117,031
Student training fees 1,081,432 1,081,432 = 1,059,742
Primary purpose trading activities 356,811 - 356,811 313,222
Rent and service charges 72,522 - 72,522 57,710
Other income 6,322 - 6,322 2,001
Total 1,664,678 142,141 1,806,819 2,047,837
EXPENDITURE ON
Raising funds
Costs ofgenerating voluntary income 7 7511 - 7,511 4,537
Charitable activities 7 1,273,243 268,342 1,541,585 1,633,505
Total 1,280,754 268,342 1,549,096 1,638,042
Net income / (expenditure) 383,924 (126,201) 257,723 409,795
Transfers - . ° -
Net movement in funds 383,924 (126,201) 257,723 409,795
Total fundsbroughtforward 1,642,835 164,235 1,807,070 1,397,275
_ 7
Total funds carried forward 12. ~~ 2,026,759 38,034 2,064,793 1,807,070

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VISION 21 - CYFLE CYMRU

BALANCE SHEET

AS AT 31 MARCH 2022

Notes 2022 2021
£ £
FIXED ASSETS
Tangible assets 9 586,221 635,344
CURRENTASSETS
Stock 16 19,777 28,014
Debtors 10 208,270 246,073
Cash at bank and in hand 1,349,120 1,012,878
1,577,167 1,286,965
LIABILITIES
Creditors:Amounts fallingduewithinoneyear "1 98.595 115,239
NETCURRENT ASSETS 1,478,572 1,171,726
TOTALASSETS LESSCURRENT LIABILITIES 2,064,793 1,807,070
Creditors:Amounts falling due aftermorethan oneyear . -
NETASSETS 2,064,793 1,807,070
THE FUNDS OF THE CHARITY
Restricted incomefunds 12 38,034 164,235
Unrestricted incomefunds 12 1,912,056 1.642.835
Designated funds 17 114,703 .
TOTALFUNDS 2,064,793 1,807,070

Approved for issue by the Board of Directors and Trustees on 08/12/2022 and signed on its behalf.

Alan Pursell - Chair

Clare Cooze - Treasurer

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VISION 21 - CYFLE CYMRU

CASH FLOW STATEMENT AS AT 31 MARCH 2022

AS AT 31 MARCH 2022
Notes 2022 2021
£ £
Cash Flowsfrom Operating Activities 13 359,734 391,755
Cash Flowsfrom Investing Activities 13 (23,491) (64,025)
Cash Flowsfrom Financing Activities 43 ‘ -
Increase/ (Decrease) in Cash 336,243 327,730
Reconciliation
Increase/ (decrease) in Cash 336,243 327,730
Cash flowfrom debtand lease financing . z
NET FUNDS at 1stApril 1,012,878 685,148
NET FUNDS at 31st March ' 1,349,121 1,012,878

Page 18

VISION 21 (CYFLE CYMRU)

FOR THE YEAR ENDED 31 MARCH 2022

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 2015)’, 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.

Fund Accounting

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity.

Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.

Restricted funds are subjected to restrictions on their expenditure imposed by the donor.

Income

i) Voluntary income

Voluntary income is received by way of grants and donations and is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.

ii) Investment income

Investment income is included when receivable.

tii) Charitable activities

Incoming resources from charitable trading activity are accounted for when earned. Incoming resources from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.

Expenditure

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be recovered.

Costs of generating voluntary income comprise the costs associated with attracting grant income.

Charitable activities comprise those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. The resources expended on each charitable activity are disclosed in the notes to the financial statements.

Page 19

VISION 21 (CYFLE CYMRU)

FOR THE YEAR ENDED 31 MARCH 2022

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.

Support costs

Support costs are those costs that, whilst necessary to deliver an activity, do not in themselves produce or constitute the output of the charitable activity. Support costs include central office functions such as general management, budgeting and accounting, information technology, human resources and financing.

Where possible support costs have been allocated directly to the activity cost category to which they relate. Staff support costs that cannot be directly attributed have been apportioned based on actual time spent. Staff support costs allocated to charitable activities have been further apportioned between charitable activities based on direct staff costs.

Other costs that cannot be directly attributed to an activity cost category have been allocated in proportion to staff direct costs and staff support costs.

Allocation of support costs includes an element of judgement and consideration has been given to the materiality of the amounts involved and the cost-benefit of the approach taken.

Stock

Stock is valued at the lower of cost and net realisable value.

Depreciation

Depreciation is provided in order to write off the cost of fixed assets over their estimated useful lives as follows:

Freehold building 50 years Leasehold building 28 years (life of lease) Motor vehicles 4 years Equipment, fixtures, Furniture and fittings 5 years or as agreed by the board Computers 3 years

Tangible Fixed Assets

Fixed assets are stated in the balance sheet at cost less depreciation.

All assets with an initial cost over £2,000 are capitalised.

Trade debtors

Trade debtors are amounts due from customers for goods sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the Charity will not be able to collect all amounts due according to the original terms of the receivables.

Page 20

VISION 21 (CYFLE CYMRU)

FOR THE YEAR ENDED 31 MARCH 2022

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the Charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Rentals payable under operating leases are charged in the Statement of Financial Activities on a straight line basis over the lease term.

Donated Facilities & Services

Donated facilities and services are included in the accounts at an amount that is considered to be the value to the Charity. This is deemed to be the amount that the Charity would pay in the open market for an alternative provision equivalent to the donation.

Pensions

The company operates a defined contribution private pension scheme, with employer contributions made to individual employee policies at the rate of 6% of gross pay. The annual contributions payable are charged to the Statement of Financial Activities.

Page 21

VISION 21 (CYFLE CYMRU) FOR THE YEAR ENDED 31 MARCH 2022

2. NET INCOME / (EXPENDITURE)

The net income / (expenditure) for the year are stated after charging:

The net income / (expenditure) for the year are stated after charging:
2022 2021
£ £
Depreciation oftangible fixed assets -owned 72,767 68,044
Depreciation oftangible fixed assets - held under finance lease : -
Operating leases - land and buildings 30,136 19,086
Auditors’ remuneration 3,450 3,350
Auditors’remunerationinrespectofotherservices - -

3. GRANTS RECEIVABLE

Unrestricted Restricted Total Funds Total Funds
Funds Funds 2022 2021
f £ £ £
=.
BBC Children in Need - 28,684 28,684 19,693
C3SC - . - 3,524
National Lottery Community Fund 8,465 8,465 81,682
Vale ofGlamorgan Glamorgan : . - 10,000
CardiffCC CC - - - 48,000
Furlough Scheme - 84,796 84,795 289,314
Edward Gostling Funding = - - 2,000
Wolfson Foundation 3 e 21,000
CaerphillyCBC 8,820 > 8,820 -
CAVC 20,196 20,196 -
8,820 142,141 150,961 475,213
Cardiff City Council - “ - -
Cardiffand and Vale College 117,031 - 117,031 117,031
117,031 - 117,031 117,031
ee __ 125,851 ‘142,141 267,692 592,244

Page 22

VISION 21 (CYFLE CYMRU)

FOR THE YEAR ENDED 31 MARCH 2022

4. DONATIONS AND FUNDRAISING

Unrestricted Restricted
Funds Funds 2022 2021
Barbara Gill : - : 1,500
Restorative Wales 2,000 - 2,000 =
Miscellaneous 4,588 4,588 2,955
CardiffCountyCouncil - Asset Transfer 15,000 15,000 15,000
21,588 - 21,588 19,455

Only individual donations over £500 are shown separately.

5. INVESTMENT INCOME

Unrestricted Restricted
Funds Funds 2022 2021
£ £ £ Fa
Bank interest 152 - 152 3,463
=a 452 . 152 3,463

6. ALLOCATION OF SUPPORT COSTS

The charity allocates its support costs as shown in the table below in accordance with the bases of allocation set out in the accounting policies.

Total
Support Total Support
Costs Costs
Staff costs Other costs 2022 2021
£ £ £ £
Generating Voluntary Income 6,367 1,144 7,511 4537
Charitable Activities 208,218 144,449 352,667 362,670
Governance Costs 8042 5,944 13,986 13,647
222,627 151,537 374,164 380,854

Page 23

VISION 21 (CYFLE CYMRU)

FOR THE YEAR ENDED 31 MARCH 2022

7. ANALYSIS OF TOTAL EXPENDITURE

Direct Costs Direct Costs Direct Costs Support Costs Support Costs Total Total
Staff Other Staff Other 2022 2021
£ £ £ £ £ £
Z
Raising Funds . 6,367 1,144 7,511 4,537
Charitable activities
StudentTraining 714,279 342,625 198,182 136,154 1,391,240 1,516,439
CommunityCentre 36,147 81,881 10,036 8,295 136,359 103,419
750,426 424,506 208,218 144,449 1,527,599 1,624,395
Governance costs - - 8,042 5,944 13,986 13,647
750,426 424,506 222,627 151,537 1,549,096 1,638,042
8. STAFF COSTS
—_—————w—w—w——=<éT—TT?s —_—————w—w—w——=<éT—TT?s——=<—s—s—""C- ee 022 OT
ee
Salaries and Remunerations		 ee ee 859,192 996,803
Social Security 61,557 68,716
Pension Contributions 49,346 56,988
970,095 1,112,507
The average number of staffemployed during the year was:
2022 2021
Direct Charitable work 38 49
Administration : 9 10
47 59
8. STAFF COSTS
—_—————w—w—w——=<éT—TT?s——=<—s—s—""C- ee 022 OT
ee
Salaries and Remunerations		 859,192 996,803
Social Security 61,557 68,716
Pension Contributions 49,346 56,988
970,095 1,112,507

The trustees received no remuneration for their services in the year (2021 — NIL); expenditure incurred in relation to the trustees was also NIL (2021 - NIL)

During the year, Vision 21 (Cyfle Cymu) paid key management gross salaries totalling £159,542 (2021 - £167,398) including a 6% employers pension contribution. Key management is 6 individuals (2021 - 3) who directly impact upon the strategic direction of the Charity. There were no employees of Vision 21 paid over £60,000 (2021 — NIL)

Page 24

VISION 21 (CYFLE CYMRU) FOR THE YEAR ENDED 31 MARCH 2022

9. FIXED ASSETS

Freehold — Leasehold Freehold — Leasehold Motor Equipment, Computer
Building Building Vehicles —-Fixtures& Equipment
Fittings Total
£ £ £ £ £ £
COST
As at 1 April 2021 215,616 1,107,200 28,078 267,288 95,896 1,714,078
Additions - 13,794 - 9,850 = 23,644
Disposals ¢ 2 : : =
Asat 31 March 2022 215,616 1,120,994 28,078 277,138 95,896 1,737,722
DEPRECIATION
As at 1 April 2021 117,638 585,399 20,948 261,206 93,543 1,078,734
Chargeforyear 4,386 55,240 5,034 7,061 1,046 72,767
Disposals - : - - E
Asat31 March2022 122,024 640,639 25,982 268,267 94,589 1,151,501
NET BOOK VALUE
Asat 31 March2022 93,592 480,355 2,096 8,871 1,307 586,221
Asat31March2021 97,978 521,801 7,130 6,082 2,354 635,344

10. DEBTORS

10. DEBTORS
2022 2021
£ £
Trade debtors 140,400 171,496
Otherdebtors 48,763 48,763
Prepayments and accrued income 19,107 25,814
208,270 246,073

Included in trade debtors is a bad debt provision of £32,425 (2021 - £2,425).

Page 25

VISION 21 (CYFLE CYMRU)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

11. CREDITORS

11. CREDITORS
2022 2021
£ £
Amounts falling due within one year:
Trade creditors 40,798 49,995
Taxation and Social Security 35,502 43,247
Deferred income « 2
Accruals 15,870 21,997
Other creditors 6,425 -
98,595 115,239

Page 26

VISION 21 (CYFLE CYMRU)

FOR THE YEAR ENDED 31 MARCH 2022

12. MOVEMENT IN FUNDS

Balance at Transfers Balance at
1st April Resources Resources To/ 31st March
2021 Incoming Outgoing (From) 2022
f £ £ _¢£ £
UNRESTRICTED FUNDS
General reserve 1,642,835 1,664,678 (1,280,754) (114,703) 1,912,056
Designated Funds - : 114,703 114,703
Total unrestricted funds
__		 1,642,835 1,664,678 (1,280,754) -__ 2,026,759
RESTRICTED FUNDS
BBC Children in Need 9,874 28,684 (28,684) - 9,874
C3SC 3,524 = = - 3,524
Millenium Stadium Charitable Trust 1,993 - - . 1,993
National LotteryCommunity Fund 146,397 8,465 (154,862) - -
Furlough Scheme 84,796 (84,796) - -
CAVC 20,196 = S 20,196
Waterloo Foundation 2,447 - - - 2,447
Totalrestricted funds 164,235 142,141 (268,342) i S
TOTAL 1,807,070 1,806,819 (1,549,096) =
-		 ~—2,064,793

Page 27

VISION 21 (CYFLE CYMRU)

FOR THE YEAR ENDED 31 MARCH 2022

12. MOVEMENT IN FUNDS (CONT.)

Name of Fund Description, nature and purposes of the fund Designated Funds The board of trustees has designated £114,703 from general reserves as part of a 3 year plan to becomea living wage employer and to make planned annual increases to all other members of staff to stay competitive with others in the social care sector to aid in staff retention.

BBC Children in Need

Millennium Stadium Charitable Trust

A three year grant provided by the BBC Children in Need to fund school holiday projects run by Creative Choices, new funding secured for July 19 - June 22.

Funding to develop textiles within our crafts project

Funding awarded to build an extension to the café at Sbectrwm and refurbish the kitchen and seating areas.

c3sc

Funding provided to encourage people with learning disabilities to exercise include increasing their sense of control and promoting positive attitudes.

CAVC Funding provided to repair the Oaks roof. Waterloo Foundation Funding provided to develop and

Funding provided to develop and implement online learning and social sessions during Covid 19.

Page 28

VISION 21 (CYFLE CYMRU)

FOR THE YEAR ENDED 31 MARCH 2022

13. ANALYSIS OF CASH FLOWS

==> picture [479 x 331] intentionally omitted <==

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |2022|2021| |£|£| |CASH|FLOWS|FROM|OPERATING|ACTIVITIES| |Net|Movement|in|Funds|257,723|409,795| |Depreciation|charges|72,767|68,044| |Profit|on|sale|of|assets|-| |Finance|costs|:|-| |Finance|income|(152)|(3,463)| |Decrease|/|(increase)|in|stocks|8,237|10,675| |Decrease|/|(increase)|in|debtors|37,803|(66,027)| |(Decrease)|/|increase|in|creditors|(16,644)|(27,229)| |(Decrease)|/|increase|in|provisions|-|-| |Net|Cash|Flow|359,734|391,755| |CASH|FLOWS|FROM|INVESTING|ACTIVITIES| |Purchase|of|Fixed|Assets|(23,643)|(67,488)| |Disposal|of|Fixed|Assets|.|*| |Interest|received|152|3463| |Net Cash|Flow|(23,491)|(64,025)|

----- End of picture text -----

There were no cash flows from financing activity

14. ANALYSIS OF NET ASSETS

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----- Start of picture text -----
|||||| |---|---|---|---|---| |Tangible|Other|Net| |Fixed|Assets|Assets|Total| |-|£|£| |Restricted|funds|-|38,034|38,034| |Unrestricted|funds|586,221|1,325,835|1,912,056| |Designated|funds|114,703|114,703| |586,221|1,478,572|2,064,793|

----- End of picture text -----

Page 29

VISION 21 (CYFLE CYMRU)

FOR THE YEAR ENDED 31 MARCH 2022

15. FINANCIAL COMMITMENTS

The charity's commitments for operating lease payments all relate to land and buildings. The total future minimum lease commitments, analysed according to the lease expiry dates, are as follows:

2022 2021
£ £
- within oneyear 21,633 21,633
- between one and five years 74,303 2,000
- after five years 74,708 1,400
170,644 25,033

During the year, £30,136 (2021 - £21,633) was recognised as an expense in the profit and loss account in respect of operating leases.

Cardiff Council have transferred use of The Lodge at The Oaks Garden Nursery on an asset transfer on a 50 year lease (44 years remaining). The Lodge is currently partly used as a base for the existing project and as office space for the project managers. Donated facilities and services are included in the accounts at an amount that is considered to be the value to the Charity. We have therefore included £15,000 as Income in Kind, along with a corresponding entry in Rent, which is based on what the office spaces would have cost the Charity on the open market.

16. STOCK

The company had a stock level of £19,777 as at the 31% March 2022 (2021 - £28,014). This comprised of finished goods and materials within the projects that were unsold as at the year end.

17. PENSIONS COST

The company operates a defined contribution private pension scheme, with employer contributions made to individual employee policies at the rate of 6% of gross pay. The charge to the Statement of Financial Activities for the year is £49,346 (2021 - £56,989); £6,036 of outstanding pension contributions (2021 - £8,554) are included in other creditors.

18. TAXATION

The company has obtained charitable status under Section 505(1a) and (1c) Income and Corporation Taxes Act 1988 and has only undertaken primary purpose activities during the year and is, therefore exempt from Corporation Tax.

Page 30

VISION 21 (CYFLE CYMRU)

FOR THE YEAR ENDED 31 MARCH 2022

19. COMPARATIVE FOR THE STATEMENT OF FINANCIAL ACTIVITIES

==> picture [516 x 542] intentionally omitted <==

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |Total|Total| |Unrestricted|Restricted|Funds|Funds| |Funds|Funds|2021|2020| |£|£|£|£| |Notes| |INCOME AND|ENDOWMENT|FROM| |Donations|and|legacies:| |Grants|receivable|3|58,000|417,213|475,213|134,905| |Donations|4|19,455|-|19,455|43,515| |Investment|income:| |Bank|interest|5|3,463|-|3,463|3,709| |Charitable|activities:| |Grants|receivable|3|117,031|.|117,031|170,419| |Student|training|fees|1,059,742|-|1,059,742|=|1,189,574| |Primary|purpose|trading|activities|313,222|-|313,222|458,125| |Rent|and|service|charges|57,710|-|57,710|91,893| |Other|income|2,001|-|2,001|6,230| |Total|1,630,624|417,213|2,047,837|2,098,370| |EXPENDITURE|ON| |Raising|funds| |Costs of generating|voluntary income|Fs|4,537|-|4,537|6,175| |Charitable|activities|7|1,301,060|332,445|1,633,505|1,989,207| |Total|-|1,305,597|332,445|1,638,042|1,995,382| |Net|income /|(expenditure)|325,027|84,768|409,795|102,988| |Transfers|.|°|.|.| |Net movement|in funds|325,027|84,768|409,795|102,988| |Total|funds|brought forward|1,317,808|79,467|1,397,275|1,294,287| |Total|funds carried|forward|12.|1,642,835|164,235|1,807,070|1,397,275|

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Page 31