Company registration number.. 03017158
Charity reglstration number: 1046783
Perthyn
{A eompany limited by guarantee
Annual Report end Flnancial Statements
for the Year Ended 31 March 2024
HSJ Audit Limite
Statutory Auditors
Severn House
Hazell Drive
Newport
South Wales
NPIO 8FY

Perthyn
Contents
Paqe
Trustees. Annu81 Report (including Strateglc Report)
Independent Auditorfs Report
10-14
Statement of Flnanclal Actlvltles
15-16
Balance Sheet
17
Statement of Cash Flows
18
Notes to the Flnanclal Statements
18-45

Perthyn
Trustees. Annual Report For The Year Ended 31 March 2024
INTRODUCTION
The Trustees, who are also directors of the charSty for the purposes of the Companies Act
2006, are pleased to present their annual report together with the financial statements of the
charlty for the year ended 31st March 2024,
The financial statements have been prepared in accordance wlth the accounting policles set
out In Note I to the financial statements and comply wlth the charitrfs Artlcles of Assoclation,
the Companies Act 2006 and Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable to charities preparlng their accounts in accordance with
the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)
(effective 01 January 2019).
OBJECTIVES AND ACTIVITIES
Purpose: Why we do what we do
Perthyn's primary activlty is provldlng support to people with learnino disabilitSes, autism and
complex health and emotlonal support requirements, to enable them to fulfil their maximum
individual potential and live full and valued lives in their communitles.
Vlsion: What our future looks like when our goals are accompllshed
Perthyn's vision is f or people with disabilities and autism to have the right support to live lives
filled with opportunities, self-determinatlon and meaningful relationships, with a real sense
of belonging in the community.
Mlsslon: What we alm to do
Perthyn's mission Is to dellver the right amount of individualised support so everyone,
regardless of their previous opportunities or the complexities of theirsupport, can live the
life they choose, being visibly active and contrlbutlng In the communlty In Ilne with our
organisation's values.
Values
Integrity
Resilience
Empowerment
Accomplishment
Core
Values
Innovation
Belonging
Accountability
Inclusivity

Perthyn
Trustees. Annual Report For The Year Ended 31 March 2024
Strategy
It is our intentlon to malntaln our current posltion as a quality provlder of individualised
support so people can live the life they choose, being vislbly actlve in the communlty
regardless of the complexlty of thelr support. whilst growlng our offerlng and expanding to
ensure our future viability and offerjob security for our current and future workforce.
Publlc Beneflt Statement
Trustees review Perthyn's aims, objectives and actlvltles each year. This revlew conslders
the outcomes and achlevements of the previous twelve months, focusing on key
departmental activities and the degree to which speclfied and aqreed targets have been met.
Trustees refer to the guldance contalned In the Charity Commlsslon's general guidance on
public benefit when reviewing alms and objectlves and in planning future activltles.
ACHIEVEMENT AND PERFORMANCE
General Overvlew
Perthyn was established in1995 as a registered charity and a company limited by guarantee.
We operate on a'not-for-profit, basis, so Invest all our funding in the provlslon of personal
and I ndlvlduallsed su pport to people wlth a learning disablllty, and the workf orce that
supports this. We are reglstered with both CQC (Care Quality Comrnlsslon) and CIW (Care
Inspectorate Walesland work with a number of local authorltles and he81th commlssloners.
We malnly support people vla the Supported Llvlng Model, but also provide bespoke
communSty day opportunities and specialised residentlal, transition'step down, services for
people with complex support requirements.
Perthyn'8 skllls and experlence In plannlng and delivering support for people with complex
health needs, multiple d isabi lities, autismi personallty dlsorder, behaviour that can
challenge, or where previous cornrnunlty Ilvlnq arrangements have falled, means we can
effectively support people who require a more intenslve level of SUPPDrt to achleve posltive
outcomes and an improved quality of Ilfe wlthln the community.
We are now entering our next 3-year strateglc planning cycle wlth Increasingly more complex
and diverse requirements requiring more ways to provide personalised support. This is also
time of political change wlth a new'soclal care reform. seeklng to deliver consistencyi
sustaSnabillty and hlgh-quality care, which is balanced wlth Increasing financial pressures
and shortfalls.

Perthyn
Trustees. Annual Report For The Year Ended 51 March 2024
Key Characteristics:
2023-24
2022-23
Number of people supported las at 31 March)
183
192
Number of stafflheadcount as at 31 March)
492
727
Turnover
£22,031,367
£23,011.597
Local Authorltles we worked wlth durlnq 2023-24;
Wales: Cardiff, Swansea, Carmarthenshire, Pembrokeshire & Powys
England: Nottlnghamshire, Northamptonshire & Shropshlre
Operatlonal Performance
Perthyn entered the 2023-24 flnanclal year wlth planned but slgnlflcant changes to the
organisation's leadershlp. In partlcular after several years leadSng Perthyn our former CEO,
Steve Cox, retlred on 31 March 2023 and we at Perthyn would like to take thls opportunity to
express our sincere qratltude for Steve's commitment and leadershSp. Steve was part of the
ground-breaking"All Wales Strategy. in the1980s which called for an end to people with a
learning disabillty Ilvlng hldden lives. Since then Steve has held a number of senlor posltions
in organisations working in the soclal care sector, demonstrating pioneering values and
prlnclples, and malntalned staunch commitment and strateolc dlrection through the various
challenges faced by soclal care, IncludSng most recently steering Perthyn through the COVID-
19 pandemlc, We thank Steve and wish him the very best for a long and fulf1115ng retlrement.
Beth Radford now reaches the end of her first year as Perthyn's CEO following 14 years in
senior leadership roles at Perthyn and a career commltted to social care. Beth has facllltated
the development of the 2024-27 StrategSc Plan, setting the strategic direction for the next
three years which reflects our vision and encompasses current demands and external
factors.
One of our key ongoing objectlves Is to increase peoples, Independence and reduce thelr
reliance on paid support wherever possible, and as such we are committed to sharing this
Information wlth our commissioners. This does lead to a reductlon In the overall hours we
provide and the funded services within existing contracts. Concurrently the commissioned
rates funded do not necessarily increase in tandem with National and Real Llving Wage and
i nf lationary rates whlch has resulted i n some contracts no longer belnq f Inancially vlable.
Consequently the decision has been taken to hand back these contracts to commissioners
afteryears of consultation, namely the contracts held with the Northamptonshire Councils
came to an end March 2024. These are the two key factors which have led to turnover
decreasing over the last two years,. while this has reduced the size of the organisation, it has
however provided the opportunity for resources to instead be invested into more value-
adding activities.

Perthyn
Trustees. Annual Report For The Year Ended 31 March 2024
The Strategic Plan will also facilitate a more flexlble working model that offers benefits to the
people we support and our employees, including hybrid working, systems and technology
enhancements and effective communication.
FINANCIAL REVIEW
Flnanclal Performance
The overall deficlt for the year ended 31 March 2024 was £828.64312023: £596.593 deflcltl.
The overall level of funds carried forward Into 2024-25 amounts to £1,448,114 compared with
the £2,276,758 brought into 2023-24. The cumulative unrestrlcted reserves decreased to
£1,077,021 (2023: £1.882.9711.
Note:
l. Funds are restricted either on geographlcal qrounds to recognise the fundlnq from various
local authority areas, or by the terms and conditions laid down by the donor. Although local
authority funds are r8Stricted, thelr expendlture remalns In support of Perthyn's primary
objectives.
2. The funding for the year was recelved from those local authDrltles with whom Perthyn has
Sgrvice agreements. In addition Perthyn received Supportlng People grant fundlng from
those same local authorities, health funding from local health boards and payments from or
on behalf of the people being supported in respect of houslng benefit and other
contributlons.
3. The prlnclpal cost for the year continued to be the salarles and re18ted costs of the staff
that are necessarily employed to meet Perthyn's contract obligations. Perthyn also meets the
cost of accommodation on behalf of the people being supported, including rent, housSng
assoclatlons, service charges and other houslng management costs.
4. Perthyn continues to incur increased pension costs and actuarlal losses as SHPS moves
slowly towards flnanclal stability, and also the annual graduated Increases in the employer
contrlbutions of the'Auto Enrolment. employee pension scheme.
Investment Pollcy
The Investment policy the Trustees have adopted Is deslgned to generate returns at low risk
and Is regularly reviewed by the FSnance & Buslness Development Scrutiny Committee. Any
Income not used during the year is re-lnvested with the original capital sum. Any other
investments relat8 only to surplus monles held from time to time. whlch are placed on short
term deposlt.

Perthyn
Trustees. Annual Report For The Year Ended 31 March 2024
Significant flnancial rlsk considerations
The Executive Management Team have identlfied to the Trustees that the following financial
risks are most i n need of proitective policies..
l. The loss of service contracts and the resultant financial costs to Perthyn.
2. The cost of malntalning appropriate levels of support in the event of a reductlon in the
scope andlor value of any service contract.
3. The cost of ensuring that all properties, including the Resldentlal Care Home, are safe,
appropriately compllant and at all times flt for purpose,
4. The SHPS Defined Benefit pension scheme and the impact of fluctuatin9 valuations.
To address these potential problems the Trustees have adopted the Reserves Policy outllned
below.
Reserves Pollcy
Analysis of rlsk to Perthyn's contracted operations and moral obligatlons to those we support
has recoonlsed the need to hold reserves In respect of eventualitSes which may include, inter
alla, the following:
l. To ensure that if the funding levels for support are significantly reduced then appropriate
levels of support can still be provided whilst an appropriate exlt strateqy is negotiated
wlth the relevant funder.
2. To make provision for other potential liabilities as a result of contracts belnq termlnated,
reduced or wlthdrawn. Such liabilities could include redundancy costs, buying out leases,
severance of contracted commitments, etc.
3. Maintenance of Perthyn-owned properties and assets to meet safety standards,
insurance and other obligations.
4, Replacement of essential assets.
5. To be able to respond to statutory changes.
Perthyn is subject to per5odic contract retendering in all areas, which could result in the loss
or reduction of a contract. Any such event would trigger pre-prepared actlon plans to
minimise the impact on Perthyn's operations and financlal stability. The advice of a contract
reduction or loss would be immediately brought to the attention of the Trustees. and then
considered at relevant Scrutiny Committee meetings.
The Trustees annually revlew Perthyn's reserves pollcy to ensure it protects against the
identlf led rlsks.

Perthyn
Trustees. Annual Report For The Year Ended 31 March 2024
Future Plans
Perthyn operates in a constantly changing environment and needs to respond to legislative
and regulatory changes. commlssioning developments. cost pressures, and tender
opportunlties. Trustees meet regularly with the Executive Management Team to consider
and agree how the organisation should respond and evolve. Perthyn considers tendering
opportunities as they arise, taking into account our capacity and resources, welghlng thls up
with the aims and requlrements of the tender speciflcations, along with how they fit wlth our
values and ethos. The 3 year Strategic Plan sets out Perthyn's overarching alms and
objectives.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Constltutlon and Governing Document
Perthyn is a company Ilmlted by guarantee and not havlng a share capital, registered In
England and Wales (company registration number 030171581, and is governed by its
Memorandum and Artlcles of Assoclatlon. Perthyn Is also reqlstered with the Charity
Commlsslon Icharity registration number10467631. The Trustees are also dlrectors of the
Charltable company.
Recrultment, appolntment and tralnlng of new Trustees
New Trustees, who are appointed by existing Trustees. are provlded wlth an induction pack
(including relevant guldance on Trustee roles and responslblllties), an Induction programme,
and any additional training that Might be requlred. Thls process Is under regular review,
Organlsatlonal Structure
The Board of Trustees meets five times each year and Trustees are responslble for
formulating policles and procedures, for setting strategic direction, and for ensuring
approprlate levels of internal control. The day to day running of Perthyn Is the responsibillty
of the Chief Executive Officer and the Executive Management Team who report to Trustees
at regular Board and Scrutlny Commlttee meetlngs.
Sub-commlttee I worklng group structur•
A commlttee structure is in place to assist and strengthen the Trustees. oversight of
activities. During 2023-24 the sub-commlttee structure was reviewed and updated to best
allgn with activity and project groupings, strateglc conversations and Head of Department
areas of responsibillty. The committees and meeting frequencies are as follows:
Flnance & Business Development Scrutlny Committee15 meetings annually)
Workforce Scrutiny Committee (quarterly meetings)
Systems & Processes Scrutiny Committee (quarterly meetings)
Supporting People Scrutiny Committee Iquarterly meetings)
Trustee and Executlve Management Annual Governance Day

Perthyn
Trustees. Annual Report For The Year Ended 31 March 2024
The Chalr of the Board of Trustees also meets monthly wlth the Chief Executive Officer.
The Auditors have direct and confidential access to the Chair of the Board of Trustees should
they so require.
Employment Pollcies
Employmènt of dlsabled persons
It is the pollcy that disabled persons shall be consldered for employment, career
development and promotion on the basis of their aptitude and abilities in common with all
employees.
REFERENCEAND ADMINISTRATIVE DETAILS
Charlty Name
Perthyn
Charlty Number
1048763
Company Number
03017158 (England and Wales)
Reglstered Address Vivian Court
Llys Felin Newydd
Phoenix Way
Swansea
SA7 9FG
Trustees
Colin Downhamlchairl
Andrew Thomas
Bernice Brown
Anne DunbarlAppointed 29 March 20231
Usmaan Rahman (Resigned 31 January 2024)
Company Secretary Beth Radford (Appolnted 01 Aprll 20231
Senlor Management Beth Radford (Chief Executlve Officer)
Kat Angell (Executive Director, Finance & Business Development)
Erlka Gostelow (Executlve Director, Support & Incluslonl
Gareth Matthews (Executlve Director, Development & Compliance)
lan Higgins (Head of Support & Inclusion, England)
Emma ReeslHead of Support & Inclusion, Wales)
Choi TanglHead of Finance)
Hayley Thomson (Head of Health. Safety & QA)
lan Duggan (Head of Human Resources)
Gary Darch IHead of Recruitment, Learnlng & Development)
Simon Hardwicke (Head of PBS Services)
Andy Johnson (Dlrector of ICT Services)

Perthyn
Trustees, Annual Report For The Year Ended 31 March 2024
HSJ Audit Limited
Severn House, Hazell Drive, Newport, NPIO 8FY
Audltors
Bankers
Bank of Scotland
One Kingsway, Cardiff, CFIO 3YB
Solicitors
Geldard's LLP
Dvmfrles House, Dumfries Place, Cardiff, CFIO 3ZF

Perthyn
Trustees. Annual Report For The Year Ended 31 March 2024
STATEMENT OF TRUSTEES. RESPONSIBILITIES
The Trustees Iwho are also the directors of Perthyn forthe purposes of company lawl are
responsible for preparing their Annual Report and the flnancial statements in accordance
with applicable law and United Klngdom Generally Accepted Accounting Practice,
Company law requlres the Trustees to prepare financial statements for each financial year
which give a true and fair view of the state of affairs of the charitable company and of the
Incomlng resources and application of resovrces, including the income and expenditure, of
the charltable company for that perlod. In preparing those financial statements, the Trustees
are required to:
select sultable accountlng policies and then apply them conslstently
observe the methods and principles in the Charity SORP
makejudgements and estimates that are reasonable and prudent
prepare the flnancial statements on the going concern basis unless it is inappropriate
to presume that the charitable company w511 contlnue in business.
The Twstees are responslble for keeplng 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 f inanclal statements comply with the Companies Act 2006.
They are also responslble for safeguardlng the ass@ts of the charitable company and hence
for taking reasonable steps for the preventlon and detectlon of fraud and other irregularltles.
In so far as the Trustees are aware:
there is no relevant audit information of whlch the charitable company's auditors are
unaware., and
the Trustees have taken all steps that they ought to have taken to make themselves
aware of any relevant audit information and to establish that the auditors are aware of
that information.
Report of the Trustees, incorporating a strategic report, approved by order of the Board of
Trustees, as the company dlrectors, on18 December 2024 and signed on the board's behalf
by:
Signed:
Dated:
Colin Downham (Chairl

Perthyn
Independent Audltorfs Report to the Members of Perthyn
Oplnlon
We have audited the financial statements of Perthyn (the 'charity'l for the year ended 31
March 2024, whlch comprise the Statement of Flnancial Activities, Balance Sheet,
Statement of Cash Flows, and Notes to the Financial Statements, Includlno a summary
of slgnlflcant accountlng policies. The flnanclal reportlnq framework that has been
applied in their preparation Is United Kingdom Accountlng Standards, comprising
Charltles SORP - FRS 102 'The Financial Reportlng Standard applicable in the UK and
Republic of Ireland, and applicable law (United Kingdom Generally Accepted Accountlng
Practlce).
In our oplnlon the flnancial statements:
glve a true and falr view of the state of the charltys affairs as at 31 March 2024 and of
its incoming resources and appllcation of resources, including its Income and
expenditure, for the year then ended;
have been properly prepared In accordance with Unlted Klngdom Generally
Accepted Accountlng Practlce: and
have been prepared In accordance w5th the requlrements of the Companies Act
2006.
Bas18 for oplnlon
Wè conducted our audit in accordance wlth Internatlonal Standards on Auditing IUKI
IISAS (UK)) and applicable law. Our responsibilities under those standards are further
described in the audltor responsibilities for the audlt of the flnanclal statements
section of our report. We are independent of the charity in accordance with the ethlcal
requirements that are relevant to our audit of the flnanelal statements In the UK,
Includlng the FRC'S Ethical Standard, and the provislons available for small entities, in
the circumstances set out In note to the financlal statements, and we have fulfilled our
other ethical responsibilities in accordance with these requirements. We believe that
the audit evidence we have obtained is sufflclent and approprlate to provlde a basis for
our oplnion,
Page 10

Perthyn
Independent Audltovs Report to the Members of Perthyn
Concluslons relatlng to golng concem
In auditlng the financial statements, we have concluded that the trustees use of the
going concern basls of accountlng In the preparation of the financial statements is
appropriate.
Based on the work we have performed, we have not Identified any material
unoertai nties reSatSng to events or conditions that, individually or collectively, may cast
Si9nificant doubt on the charity's ability to continue as a golng concern for a period of
at least twelve months from when the original financial statements were authorlsed for
issue.
Our responsibilitles and the responslbllities of the trustees with respect to going
concern are described in the relevant sections of this report,
Other Informatlon
The trustees are responsible for the other information. The other Informallon
comprises the Informatlon Included In the annual report, other than the financial
statements and our audltorfs report thereon. Our oplnlon on the f inancial statements
does not cover thg oth8r information and, except to the extent otherwise explicitly
stated In our report, we do not express any form of assurance conclusion thereon.
In connectlon with our audit of the flnancial statements, our responsibility is to read
the other Information and, in doing so, consider whether the other Information is
materially inconsistent with the financial statements or our knowlèdge obtained in the
audlt or otherwise appears to be materially misstated. If we Identlfy such materlal
inconsistencies or apparent material misstatements. we are required to determine
whether there is a material misstatement in the financial statements or a materlal
misstatement of the other informatSon. If, based on the work we have performed, we
conclude that there is a material misstatement of thls other Information, we are
requ ired to report that f act.
We have nothlng to report in thls regard,
Oplnlon on othermatters prescrfbed bythe Companles Act 2006
In ouropinlon, based on thework undertaken In the courseof the 8udlt".
the informatlon given in the for the flnancial year for which the financial statements
are prepared is consistent with the financial statements; and
the has been prepared in accordance with applicable legal requirements.
Matters on whlch we are requlred to report by exceptlon
In the light of our knowledge and understanding of the charity and its environment
obtained in the course of the audit, we have not identified material misstatements in
the flnancial statement. We have nothing to report in respect of the following matters
where the Cornpanies Act 2006 requires us to reportto you if, in ouropinion..
Page11

Perthyn
Independent Audltorfs Report to the Members of Perthyn
adequate accounting records have not been kept, or returns adequate for our audit
have not been received from branches not vlsited by us; or
the flnancial statements are not In agreement with the accountlng records and
returns; or
certain disclosures of trustees remuneration specified by law are not made., or
we have not received all the informatlon and explanations we require for our audlt.
Responslbllltles of trustees
As explained more fully In the (set out on page I, the trustees are responsible for the
preparation of the financial statements and for being satisfied that they gSve a true and
fair vlew, and for such Internal control as the trustees determlne Is necessary to enable
the preparation of financial statements that are free from material misstatement,
whether due to fraud or error.
In preparing the flnancial statements, the trustees are responsible for assessing the
charlty's ablllty to contlnue as a golng concern, disclosingi as applicable, matters
related to golng concern and uslng the going concern basls of accountlng unless the
trustees either intend to liquidate the charity or to cease operations, or have no
reallstlc alternatlve but to do so.
Audltor responglbllltles for the audlt of the flnanclal statements
Our objectives are to obtaln reasonable assurance about whether the flnancl81
statements as a whole are free from material misstatement, whether due to fraud or
error, and to issue an auditorfs report that Includes our oplnlon. Reasonable assurance
Is a high level of assurance, but is not a guarantee that an audit conducted in
accordance with ISAS IUKI will always dètect a material misstatement when it exists.
Misstatements can arlse from fraud or error and are consldered materlal If, Indlvidually
or in the aggregate, they could reasonably be expected to influence the economlc
decislons of users taken on the basls of these financlal statements.
The extent to whlch our procedures are capable of detecting Irregularitles, including
fraud is detailed below:
Page12

Perthyn
Independent Audltorfs Report to tho Members of Perthyn
Our planning procedures identify the legal and regulatory frameworks applicable to the
operations and financial statements of the group. These are reviewed internally with
the audlt team Including relevant industry experlence and expectations as well as
externally with the client management. The key laws and re9ulations we considered in
thls context were the UK Companies ACT 2006, Charities Act 2011 and relevant tax
legislation.
Once Identlfled. we assess the risks of material mlsstatements in relation to the laws
and regulations, irregularitles, includi ng f raud and adjust our testing accord ingly. Our
audit procedures Include:
Discusslng wlth Trustees and managernent whlch areas of the buslness they belleve
to be more susceptlble to fraud, and whether they have any knowledge or susplclon of
fraudulent activities.,
Obtaining an understanding of the key controls put in place by the group to address
rlsks Identified, assessin9 the effectiveness of those and discussing how these are
maintained and monitored internally;
Assesslng the rlsk of management overrlde and review and testlng of journal entrles
made Into the accountlng system.,
Challenging assumptions and judgements made by the group in relation to the
sSgnlflcant accounting estimates employed In the preparation of the financial
statements;
Discussions wlth Trustees and management the legal and regulatory obllgatSons of
the business and whether they have any knowledge or suspicion of non compliance.
Despite the audit being planned and conducted in acoordance with ISAS IUKI there
remains an unavoldable rlsk that material misstatements in the flnanclal statements
may not be detected owin9 to inherent limitations of the audit, and that by their very
nature, any such instances of f raud or irregularities likely involve collusion, forgery,
i ntentional misrepresentatlon, or the overri de of i nternal controls.
A further descriptlon of our responsibilities is available on the Flnancial Reportlng
Council's website at: www.frc.org.uklauditorsresponsibilities. This description forms
part of otjr auditorfs report.
Page13

Perthyn
Independent Audltorfs Report to the Members of Perthyn
Use of our report
This report is made solely to the charitable companls trustees, 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 charlty's trustees those matters we are
required to state to thern in an audltorfs report and for no other purpose. To the fullest
extent permltted by law, we do not accept or assume responsibility to anyone other
than the charitable company and Its trustees as a body, for our audit work, for this
report, orforthe opinionswe have formed.
Mr
rew Hill FCCA ACA DChA BFP(Senior Statutory Auditor)
For and on behalf of HSJ Audit Limited, Statutory Audltor
Severn House
Hazell Drlve
Newport
South Wales
NPIO 8FY
18 December2024
Page14

Perthyn
Statement of Flnanclal Actlvltles for the Year Ended 31 March 2024
Ilncludlng Income and Exp8ndlture Account and Statement of Total Recognl8ed Galns
and Losse8)
Unrestrlcted Restrlcted
funds
funds
Totsl
2024
Note
Incorne and Endowments from:
Charitable actSvitles
Investment income
4,193,159 17,826,096 22,019,255
12,112
12,112
Total income
4,205,271 17,826,096
22,031,367
Expendlture on:
Charitable activities
4,999 437
17,832,573) (22 832 010
Total expenditure
14,999,437) (17,832,573) 122,832,010)
Net expenditure
Transfers between funds
1794,1661
16,216
16,477)
(16,2161
(800,6431
Other recognlsed galn8 and108808
Actuarial gains on defined benefit
pension schemes
28,000
28,000
Net movement in funds
1805,950)
(22,6931
1828,6431
Reconclllatlon of fund8
Total funds brought forward
1,882,971
393,786
2,276,757
Total funds carrled forward
19
1,077,021
371,093
1,448,114
The notes on pages19 to 45 form an integral part of these financial statements.
Page15

Perthyn
Statement of Flnanclal Actlvltles for the Year Ended 31 March 2024
(Includlng Income and Expendlture Account and Statement of Total Reco9n18ed Galn8
and Lossès)
Unrestrlcted Restrlcted
fund8
funds
Total
2023
£ (A8 restatodl
Note
Income and Endowments from:
Charitable actlvities
Investment income
6,081,636 16,928,027 23,009,663
1,933
1,934
Total income
6,083,569 16,928,028
23,011,597
Expondlture on:
Charitable actlvltles
(5,742,538) (17,676,652)
23,419,190
Total expenditure
Net Incomellexpend5ture)
Transfers between funds
(5,742,538)
17,676,652) 123,419,190)
341,031
(937,9741
1748,624)
937,974
(407,593)
other recoqn18ed galn8 and108se8
Actuarlal gains on defined benefit
penslon schemes
Net movement In funds
1189,0001
189,000
(785,9431
189,350
1596,593)
R￿OnC111atlon of fund8
Total funds brought forward
Total funds carried forward
2,668,915
204,436
2,873,351
19
1,882,972
393,786
2,276,758
All of the charity's activities derive from contlnulng operatlons during the 8bove two
periods.
The funds breakdown for 2023 Is shown In note19.
The notes on pages 19 to 45 form an integral part of these financial statements.
Page16

Perthyn
(Reglstratlon number: 03017158)
Balance Sheet as at 31 March 2024
2024
2023
£(As restated)
Note
Flxed a88et8
Tangible assets
Current assets
Debtors
Investments
Cash at bank and in hand
596,460
612,791
12
1,359,259
372,438
864,585
2,596,282
1,265,690
360,326
1,818,333
3,444,349
13
Credltors: Amounts falllng due wlthln one year
Net current assets
14
880,500
968,322
1,735,782
2,476,027
Total 8S8ets18gs curr8nt118bllltle8
2,332,242
3.088,818
Provlslons
16
884 128
812 060
Net assets
1,448,114
2,276,768
Fund8 of the charlty:
Restrlcted Income funds
Restrlcted funds
371,093
393,788
Unrestrlcted Income funds
Unrestrlcted funds
Revaluation reserve
936,629
141392
1,737,580
145,392
Total unrestricted funds
1,077,021
1,882,972
Total fund8
19
1,448,114
2,276,758
The financial statements on pages 15 to 45 were approved by the trustees, and
authorised for issue on18 December 2024 and signed on their behalf by..
Cali￿ o. k (I
The notes on pages10 to 36 form an integral part of these financial statements.
Page17

Perthyn
ststernent of Cash Flows for the Year Ended 31 March 2024
2024
2023
£(As restated)
Note
Cash flow8 from operatlng actlvltles
Net cash expenditure
Adjustments to cash flow8 from non-cash Items
Depreclatlon
Investment income
1828,6431
1596,593)
16,331
(12,1121
1824,424)
16,781
(1,9341
(581,7461
Worklng capltal adjustments
(Increaselldecrease in debtors
IDecreasellincrease in credltors
Increaselldecreasel in provisions
Increaselldecreasel In deferred Income
12
14
16
193,5691
194,9881
44,068
3,033
849,086
117,482
178,7421
128,4171
Net cash flows from operating actlvltles
1965,8601
279,663
Cash flows from Inv88tlng actlvltle8
Interest receivable and similar income
12,112
1,934
Net Idecreaseylncrease In cash and cash
equivalents
Cash and cash equivalents at l April
Cash and cash equivalents at 31 March
(953,7481
281,597
1,818,333
1,536,736
864,585
1,818,333
All of the cash flows are derlved from contlnulng operatlons durlng the above two
periods.
The notes on pages19 to 45 form an integral part of these flnancial statements.
Page18

Perthyn
Notes to the Flnancial Statementsforthe Year End8d 31 March 2024
I Charlty status
The charity is Ilmited by guarantee, Incorporated in Wales, and consequently does not
have share capital. Each of the trustees is liable to contribute an amount not exceeding
£1 towards the assetsof the charity in the event of Ilquldation.
The address of its registered office is:
Vlvlan Court
Llys Felin Newydd
Pheonix Way
Swansea
SA7 9FG
These flnancial statements were authorSsed for issue by the trustees on 18 December
2024.
2 Accountlng pollcles
Summary of slgnlf Icant accountlng pollcles and kay accountlng e8tlm8tos
The principal accounting policies applied In the preparation of these flnanclal
statements are set out below. These policies have been eonslstently applled to all the
years presentgd, unless otherwise stated.
Statement of compllance
The financial statements have been prepared In accordance with Accountlng 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 IFRS 102)) Ilssued in October 20191
(Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and
Repub15c of Ireland IFRS102)and the Cornpanies Act 2006.
Basls of preparatlon
Perthyn meets the definition of a publlc benefit entity under FRS 102. Assets and
liabilities are Inltially recognised at historical cost or transactlon value unless
otherwise stated in the relevant accounting policy notes.
Golng concern
The trustees consider that there are no material uncertainties about the charity's
ability to contSnue as a going concern nor any significant areas of uncertalnty that
affect the carrying value of assets held by the charity.
Page19

Perthyn
Notes to the Flnanclal Ststement8 for the Year Ended 31 March 2024
Prlor perlod errors
Under-statement of opening creditors and unrestrlcted reserves.
Relatlnq to
prlor
Relatlng to Relatlng to perlods
the current the prlor before the
perlod
perlod prlor perlod
dlsclosed Indlsclosed Indlsclos8d In
thése
these
those
flnanclal fln8nclal flnanclal
8t8temèntg Statornents Statement8
Other creditors
124,793
124,793
{124,7961 1124,7931
General unrestricted funds
Upon completion of the financial statements for the year ended 31 March 2025 It has
become apparent that creditor balances, relatlng to accruals and deferred income
were understated as at 31 March 2024. This prior period error became apparent when
completing the annual reconclllatlon between opening accruals and deferred income
and closing balances of the same.
On tracing the variance back, it is evident that the Statement of Financlal Act5vltles was
not affected for the current or previous period, with the relevant error being adjusted
through opening reserves as at l April 2022.
Income and endowments
Defwredlneome
Oeferred income represents amounts received for future periods and is released to
Incoming resources in the period for which, it has been received. Such income Is only
deferred when:
The donor specif les that the grant or donation must only be used In future accounting
periods; or
The donor has imposed conditions which must be met before the charity has
unconditional entltlement.
Investmentlneome
Dlvidends are recognised once the dividend has been declared and notlflcatlon has
been received of the dividend due.
Page 20

Perthyn
Notes to the Flnanclal Statements for the Year Ended 31 March 2024
Charftable actlvltles
All incoming resources are included in the statement of financial activities when the
charity Is entitled to the income and the amount can be quantified with reasonable
accuracy. The following specific policies are applied to partlcular cate9ories of income.
Housing benefit claimed on behalf of all service users is accounted for on a receivable
basis.
Grants and service level agreements to support the provlsion of care are accounted for
in the financial year to whlch they relate. Grants recelved to finance the cost of flxed
asset are recognised as restricted funds and used to finance the annual depreciation
charge.
Carers allowance awarded by the Welsh Government relates to a one-off flat rate
payment of £500 for ellgible carers, to reward the hard work and commitment of soclal
care staff who have provided essential care to the most vulnerable citizens during the
COVIO-19 pandemlc(20231.
Income from charitable activities includes incorne recognised as earned las the related
goods or services are provided) under contract.
Expendlture
Llabilitles are recognised as soon as there is a legal or constructive obligation
committing the charity to the expenditure, All expenditure is accounted for on an
accruals basis and has been classified under headings that agoregate all costs related
to the category.
Charltable actlvltles
Charltable expenditure comprises those costs incurred by the charity in the delivery of
Its activities and services for its beneficiaries. It includes both costs that can be
allocated dlrectly to such activities and those costs of an indirect nature necessary to
support them.
Support CO8t8
Support costs Include central functions and have been allocated to activlty cost
categories on a basis consistent with the use of resources, for example, allocating
property costs by floor areas, or per caplta, staff costs by the time spent and other
costs by thelr usage.
Page 21

Perthyn
Notes to the Flnanclal Statements for the Year Ended 31 March 2024
Qovernance cost8
Governance costs include costs of the preparation and examination of the statutory
accounts, the costs of trustee meetings and the cost of any legal advice to trustees on
governance or constitutional matters.
Taxatlon
The charlty is considered to pass the tests set out in Paragraph I Schedule 6 of the
Finance Act 2010 and therefore it meets the definition of a charitable company for UK
corporatlon tax purposes. Accordingly, the charity is potentially exempt from taxation
in respect of Income or capital gains received within categories covered by Chapter 3
Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable
Galns Act 1992, to the extent that such Income or gains are app15ed exclusively to
charltable purposes.
Tanglble flxed assets
Individual fixed assets costlng £1,500.00 or more are initially recorded at cost, less any
subsequent accumulated depreclatlon and subsequent accumulated Impairment
losses.
Depreclatlon and amortl8atlon
Depreclatlon Is provlded on tangible fixed assets so as to write off the cost or
valuation, less any estlmated residual value, over thelr expected useful economic life
as follows:
A88et cla88
Motor vehicles
Flxtures & f Ittlngs
Freehold bulldlngs
Freehold land
D8precl8tlon method and rate
25 /0 Stralght Ilne basss
15 /• Stra ight line basis
2 /0 Straight line basis
Current asset Investments
Current asset Investments are Included at the lower of cost and net realisable valu8 1
market value.
Page 22

Perthyn
Notes to the Flnanclal Ststements for the Year Ended 31 March 2024
Trade debtors
Trade debtors are amounts due from customers for merchandlse sold or servlces
performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently
measured at amortlsed cost using the effectlve interest method, less provision for
Impalrment. 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 orlginal terms of the receivables.
Cash and cash equlvalent8
Cash and cash equivalents comprlse cash on hand and call deposits, and other
short-term hlghly Ilquid investments that are readily convertible to a known amount of
cash and are subject to an insignificant rlsk of change in value.
Trade credltors
Trade creditors are obligations to pay for goods or services that have been acquired In
the ordlnary course of business from suppliers. Accounts payable are classlfied as
current liabilities if the charlty does not have an unconditlonal rlght, 8t the end of the
reportlng perlod, 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 recognlsed Initially at the transactlon prlce and subsequently
measured at amortlsed cost using the effective interest method.
Provlslons
ProvisSons are recognised when the charity has an obligation at the reportlng date as a
result of a past event, it Is probable that the charlty wlll be requlred to settle that
obllgatlon and a reliable estimate can be made of the amount of the obligatlon.
Fund structure
Unrestricted Income funds are general funds that are available for use at the trustees
discreti on in f urtherance of the objectives of the charity,
Oeslgnated funds are unrestricted funds set aside for specific purposes at the
discretion of the trustees.
Restrlcted income funds are those donated for use in a particular area or for specific
purposes. the use of which is restricted to that area or purpose.
Page 23

Perthyn
Notes to the Flnanclal Ststements for the Year Ended 31 March 2024
Penslons and other post retlrement obllgatlons
The Charity participates in the SocSal Houslng Pension Scheme ISHPSI. This is a
defined benefit scheme for which the assets and Ilabllltles are calculated by an
Independent quallfled actuary. Contributions towards the current cost of the scheme
as well as towards the past service def icit are recorded throuqh the year. At the year
end an Actuarlal assessment is conducted and the impact of any gains or losses
recorded in the financial statements.
3 Income from charltable actlvltle8
Unre8trlcted
funds
General
Restrlcted
funds
Total
2024
Total
2023
Care Services
4,193,159
17,826,096
22,019,255 23,009,663
Unre8trlct8d
funds
General
Restrlcted
fund8
Total
2024
Total
2023
Housing Beneflt
Servlce User Recharge
Care Funding Fees
Repairs, renewals & internal
decorations
Care contributlon
Training and other income
Carer allowance
Covid-19 local authority
1,246,157
21,219
2.467,824
1,246,157
1,101,346
21,219
11,633
17,826,096 20,293,920 20,806,642
81,870
90,002
32,475
253,612
81.870
90,002
32,475
253,612
76,402
103,321
660,248
230,280
19,791
17,826,096 22,019,255 23,009,663
4,193,159
4 Investment Income
Unrestrlcted
funds
General
Total
2024
Total
2023
Interest receivable and similar income",
Interest receivable on bank deposits
12,112
12,112
1,934
Page 24

J ro o LN
C4

Jiil-l

lil-

Perthyn
Notes to the Flnanclal Ststements for the Year Ended 31 March 2024
7 Not Incomlngloutgolng resource8
Net outgoing resources for the year include:
2024
2023
Operatlng leases- other assets
Audit fees
Other non-audit servlces
Depreciation of fixed assets
242,086
9,100
2,000
16,311
288,859
12,255
1.550
16,781
8 Trustees remuneratlon and oxpen808
Durlng the year the charity made the following transactions wlth trustees:
Trustee expenses totalllnq £76812023.. £1.5671 were re-lmbursed durlng the year.
No trustees, nor any persons connected with them, have received any remuneration
from the charlty durlng the year.
g Staff co8t8
The aggregate payroll costs were as follows:
2024
2025
Staff costs durlng the year were:
Wages and salarles
Soclal security costs
Penslon costs
16,800,729
1,517,654
656,271
18,974,654
16.911.605
1,618,844
670,874
19,201,123
The monthly average number of persons (including senior management I leadership
team) employed by the charity during the year expressed as full time equivalents was as
f ollows:
2024
2023
O perational
Off Ice
605
62
687
617
62
879
Page 28

Perthyn
Notes to the Flnanclal Ststement8 for the Year Ended 31 March 2024
The number of employees whose emoluments fell within the following bands was,.
2024
2023
No
£60,001- £70,000
£70,001- £80,000
£80,001- £90,000
£90,001- £100,000
£100,001- £110,000
The total employee benefits of the key manaqement personnel of the charlty were
£838,53912023- £739,977).
Page 29

Perthyn
Notes to the Flnanclal Stst8ment8 for tho Year Ended 31 March 2024
10 Taxatlon
The charlty Is a reglstered charlty and Is therefore exempt from taxation.
11 Tanglble flxed assets
Land and Fumlture and
bulldlngs
equlpment Motorvehlcle8
Total
Cost
At1 April 2023
Dlsposals
750,000
40.748
37,876
13,800
804,546
137,8761
At 31 March 2024
750,000
2,870
13,800
766,670
Depreclatlon
At l Aprll 2023
Charge forthe year
Ellminated on disposals
At 31 March 2024
139,633
15,000
39,223
430
137,8761
12,899
901
191,755
18,331
37,8761
154,633
1,777
13,800
170,210
Net bookvalue
At 31 March 2024
595,367
1,093
596.460
At 31 March 2023
810,367
1,523
901
812,791
Page 30

Perthyn
Notes to thè Flnanclal Statements for the Year Ended 31 March 2024
Rev8luatlon
The fair value of the compan￿$ Buildings was revalued on 5 November 2015 by Lambert
Smlth Hamptln Chartered Buildlng Surveyors, an independent valuer,
This valuation was based upon open market value which is deemed to be not materlally
different from existlng use basis.
Had this class of asset been measured on a historical cost basis, their carrying afflount
would have been £396,00012023 £407,000).
12 Dgbtor8
2024
2023
Trade debtors
Prepayments
Accrued income
1,203,150
155,354
755
1,359.259
892,514
373,176
1,265,690
13 Cash and cash equlvalent8
2024
2023
Cash on hand
Cash at bank
386
864,199
864,585
623
1817 710
1,818,333
14 Credltors.. amountgfalllng due wlthln one year
2024
2023
£ (As restated)
241,672
372,275
229,732
100,026
Trade creditors
Other taxation and social securlty
Other creditors
Accruals
Oeferred incorne
194,071
348.077
161,793
128,909
860,500
968,322
Page 31

Perthyn
Notes to the Flnanclal Statements for the Year Ended 31 March 2024
2024
2023
Deferred income at l April 2023
Resources deferred in the period
Amounts released from previous periods
24,617
27,650
24,6171
51.034
24,617
151.034
Deferred income at year end
27,650
24,617
Page32

Perthyn
Notes to the Flnanclal Statements for the Year Ended 31 March 2024
15 Obllgatlons under leases and hlre purchase contracts
Operatlng lease commltment8
Total future minimum lease payments under non-cancellable operating leases are as
follows:
2024
2023
Land and bulldlng8
Wlthin one year
Between one and five years
109,333
309,850
419.183
97,325
43,000
140,325
18 Provlslon8
Penslon
contrlbutlons Property & IT
provlslon
Provlslon
Totsl
At l Aprll 2023
Charged to the statement of recognlsed
gains and losses
Decrease due to passage of time and
change in discount rate
1737,0001
(75,0601
1812,0601
(44,0681
(44,0881
128,0001
128,000)
At 31 March 2024
765,0001
1119,1281
1884,1281
17 Pen8lon and other schemes
Def Ined contrlbutlon p8n8lon Scheme
The charity operates a deflned contrlbution pension scheme, The pension cost charge
for the year represents contributions payable by the charity to the scheme and
amounted to £503,44712023- £670,874).
Page 33

Perthyn
Note9 to the Flnanclal Statements for the Year Ended 31 March 2024
Deflned beneflt pen81on 8cheme8
Soclal Houslng Penslon Scheme
The Scheme Is funded and is contracted-out of the State Pension scheme.
SHPS is a multi-employer defined beneflt scheme. Employer partlclpatlon In the
Scheme is subject to adherence with the employer responsibilities and obligations as
set out in the'SHPS House Policles and Rules Employer Gulde..
An employer can elect to operate different benefit structures for thelr actlve members
and thelr new entrants. An employer can only operate one open defined benefit
structure at any one tlme. An open benefit structure Is one whlch new entrants are able
tojoin.
Perthyn currently operates final salary with a 1160th accrual rate, final salary with a
1170th accrual rate and final salary wlth a 1180th accrual rate beneflt structure for
actlve members.
The Trustee commisslons an actuarl81 valuatlon of the Scheme every three years. The
main purpose of the valuatlon Is to determlne the flnanclal posltlon of the Scheme In
order to determine the level of future oontributions required, in respect of each benefit
structure, so that the Scheme can meet Its pension obligations as they fall due. From
April 2007 the split of the total contribution rate between member and employer is set
at individual employer level, subject to the employer paying no less than 50 /D of the
total contrlbution rate. From l April 2010 the requirement for employers to pay at least
50 /a of the total contrlbutlon rate no longer applies.
The actuarial valuatlon assesses whether the Scheme's assets at the valuatlon date are
likely to be sufficient to pay the pension benefits accrued by members as at the
valuation date. Asset values are calculated by reference to market levels. Accrued
pension benefits are valued by discounting expected future benefit payments using a
discount rate calculated by reference to the expected future Investment returns.
Page34

Perthyn
Notes to tho Flnanclal Statements for the Year Ended 31 March 2024
The date of the most recent comprehensive actuarial valuation was 30 September
2023. The average duration of the deflned benefSt obligatlon at the period ended 31
March 2024 is 14 years.
Assumptions for future Inflatlon Ilnked pension increases (where applicable) are based
on the approprlate headline inflation index, adjusted where necessary to reflect any
caps and collars, bearing in mind the proxlmlty of the future inflatlon assumption to
those caps and collars and the expected variability of future inflation increases. These
assumptions are set out below in full.
Note that these represent all possible assurnptiDns that could apply to scheme
benef Its, and in practice not all of these assumptions will be used.
The total cost relatlnq to deflned benefit schemes for the year recognlsed In proflt or
loss as an expense was168,00012023- £164,000).
The total cost relating to deflned benefit schemes for the year included In the cost of
anasset was-12023- £-).
Page 35

Perthyn
Notes to the Flnanclal Statement8 for the Year Ended 31 March 2024
Reconciliation of scheme assets and liabilities to assets and liabilities recognlsed
The atnounts recognised in the statement of financial position are as follows:
2024
2023
Fair value of scheme assets
Present value of defined benefit obligation
3,177,000
3,271,000
(3,942,000] (4,008,000)
Deflned benefit pension scheme deficit
1765,0001
1737,000)
Defined beneflt obligatlon
Changes In the defined beneflt obllgatlon are as follows:
2024
Present value at start of year
Interest cost
Aetuar5al galns and losses
Benefits paid
Present value at end of year
4,008,000
188,000
162,000
1416,000
3,942,000
Falr value of scheme assets
Changes in the falr value of scheme assets are as follows:
2024
Fair value at start of year
Interest income
Employer contributions
Benef its paid
3,271,000
148,000
174,000
1416,0001
Fair value at end of year
3,177.000
Analysls of assets
The major categorles of scheme assets are as follows:
Page 36

Perthyn
Notes to the Flnanclal Statements for the Year Ended 31 March 2024
2024
2023
Global Equity
Absolute Return
Distressed Opportunlties
Credit Relative Value
Alternative risk Premia
Emerging Markets Debt
Risk sharing
Insurance-Linked Securities
316,000
124,000
112,000
104.000
101,000
41,000
186,000
16,000
1,000,000
61,000
35,000
99,000
123.000
6,000
18.000
241,000
83.000
666,000
Return on scheme assets
2024
2023
Return on scheme assets
148,000
1,757,000
The pension scheme has not invested in any of the charity's own financial instruments
or in properties or other assets used by the charity.
Principal actuarial assumptions
The principal actuarial assumptions at the statement of f inancial position date are as
f ollows..
2024
2023
Discount rate assumptlon
InflationlRPI)assumption
InflationlCPI)assumption
Pensionable earnings increases assumptlons
4.90
3.15
2.78
3.78
75.00
75.00
4.87
3.19
2.75
3.75
75.00
75.00
Page 37

Perthyn
Notes to tho Flnanclal Statements for the Year Ended 31 March 2024
Postretlrementmort8llty8ssumptlons
2024
Year8
21.00
23.00
22.00
24.00
2023
Years
21.00
23.00
22.00
25.00
Current UK pensioners at retirement age - male
Current UK pensioners at retirement age- female
Future UK pensloners at retlrement age- male
Future UK pensioners at retirement age- female
Page 38

Perthyn
Notes to the Flnanclal Ststemont8 for the Year Ended 31 March 2024
18 Other long-tem employment and termlnatlon beneflts
Penslon Trust's Growth Plan
The GrDWth Plan is a multi-employer penslon Plan which is in most respects a money
purchase arrangement but It has some guarantees. Contributions paid into the Growth
Plan up to and including September 2001 were converted to defined amounts of
penslon payable from Normal Retlrement Date. From October 2001 contributions were
Invested in personal funds whlch have a Capital guarantee and whlch are converted to
pension on retirement, either within the Growth Plan or by the purchase of an annuity.
The Plan Is funded and Is not contracted out of the state scheme. The rules of the
Growth Plan allow for the declaration of bonuses andl or Investment credlts Sf this Is
wlthln the flnancial capaclty of the Plan assessed on a prudent basis.
Bonuses l investment credits are not guaranteed and are declared at the discretion of
the Plan's Trustee. The Trustee commisslons an actuarial valuation of the Growth Plan
every 3 years. The main purpose of the valuation is to determlne the flnancial position
of the Plan and so determine the future prospects for discretionary bonuses andl or
Investment credits. The actuarial valuation assesses whether the Plan's assets at the
valuation date are likely to be sufficient to pay the pension benefits accrued by
members as at the valuation date. Asset values are calculated by reference to market
levels. Accrued pension benefits are valued by dlscounting expected future benefit
payments using a discount rate calculated by reference to the expected future
Investment returns.
Perthyn offers the Growth Plan as an AVC investment option for members of the Social
Housing Pension Scheme The members pay contributions at a rate of their cholce, The
Drganlsatlon does not pay any contrlbutlons to the Growth Plan.
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Perthyn
Notes to the Flnanclal Ststement8 for the Ye8r Ended 31 March 2024
20Analysl8 of net as8ets between funds
Total fund9 at
31 March
2024
Unrestrlcted funds
General
Deslgnated
Restrlcted
funds
Tangible flxed assets
Current assets
Current liabilities
Provisions
459.068
1,456,663
(860,5001
1884,128)
137.392
768,526
596,460
2,596,282
1860,5001
1884,1281
371,093
Total net assets
171,103
905,918
371,093
1,448,114
Total funds at
31 March
2023
£ (A8 restated)
612,791
3,444,349
(968,3221
1812,0601
Unre8trlcted funds
General
D881qnated
Re8trlcted
fund8
Tanqlble flxed assets
Current assets
Current liabilities
Provisions
471,399
1,982,037
(968,3221
1812,060
141,392
1,068,526
393,786
Total net assets
673,054
1,209,918
393,786
2,276,758
21 Analysls of net fund8
Flnanclnq At 31 March
At l Aprll 2023 cash flows
2024
Cash at bank and in hand
Current asset investments
1,818,333
360 326
(953,7481
6,556
864.585
366,882
Net debt
2,178,659
1947,1921
1,231,467
Page 44

Perthyn
Notes to the Flnanclal Statements forthe Year Ended 31 March 2024
Flnanclng At 31 March
At1 Aprll 2022 cash flows
2023
Cash at bank and in hand
Current asset investments
1,536,736
374 331
281,597
114,005)
1,818,333
360,326
Net debt
1,911,067
267,592
2,178,659
Page 45