COMPANY REGISTRATION NUMBER: 2931254
CHARITY REGISTRATION NUMBER: 1049341
E.L.l.T.E. Supported Employment Agency Limited
Company Limited by Guarantee
Financial Statements
31 March 2024
WALTER HUNTER & CO LIMITED
Chartered accountants & statutory auditor
24 Bridge Street
Newport
South Wales
NP20 4SF

E.L.l.T.E. Supported Employment Agency Limited
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2024
Page
Trustees, annual report (incorporating the director's report)
Independent auditor's report to the members
Statement of financial activities (including income and
expenditure account)
13
Statement of financial position
16
Statement of cash flows
17
Notes to the financial statements
18
The following pages do not fonn part of the financial statements
Detailed statement of financial activities
36

E.L.l.T.E. Supported Employment Agency Limited
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Director's Report)
Year ended 31 March 2024
The trustees, who are also the directors for the purposes of company law, present their report and the
financial statements of the charity for the year ended 31 March 2024.
Reference and administrative details
Registered charity name
E.L.l.T.E. Supported Employment Agency Limited
Charity registration number
1049341
Company registration number 2931254
Principal office and registered 8 Magden Park
office
Green Meadow
Llantrisant
Rhondda Cynon Taf
CF72 8XT
The trustees
Miss R Baker
MrA Hole
Mr R Jones
Mrs G Owens
Mrs E Rock
Ms M Whelan
(Resigned 12 July 2023)
Company secretary
Mrs AP Wayman
Auditor
Walter Hunter & Co Limited
Chartered accountants & statutory auditor
24 Bridge Street
Newport
South Wales
NP20 4SF
Structure, governance and management
Nature of the Governing Document and Constitution of the Charity
The Charity is a Company Limited by Guarantee" company registration number 2931254. Registered
charity number 1049341.
The methods adopted for the recruitment and appointment of new trustees
The organisation is managed by a voluntary management committee whose role is to set the overall
objectives for ELITE and to ensure the charity is keeping within its legal and moral obligations. The
Management Committee holds the ultimate power and responsibility for ELITE.
The structure of the Management Committee includes members with a diverse range in skills and
expertise. Individuals are elected by the members at the Annual General Meeting.

E.L.l.T.E. Supported Employment Agency Limited
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2024
Structure, governance and management (continued)
The policies and procedures adopted for the induction and training of trustees
New trustees are given an induction by the chief Executive Officer following completion of the relevant
legal declaration and satisfactory checks being completed. A skills review is completed on a regular
basis by all committee members.
The name of the Chief Executive Officer and other senior staff members to whom day to day
management of the charity was delegated during the 2022123 year by the charity trustees
Chief Executive OffI￿r
Finance Manager
Operations Manager
Group Enterprise Manager
Group Administration Manager
Training Manager
Mrs Andrea Ilvayman
Mrs Pearl Dickson
Mrs Sian Clarke
Mr lan Thomas
Ms Erika James
Mr Chris English
The organisational structure of the charity and how decisions are made
The Management Committee is responsible for the organisation's strategy and policy framework. The
day-to4ay management of the charity and implementation of that framework is delegated to the Chief
Executive OffI￿r and senior management team.
The major risks to which the Charity is exposed and reviews and systems to mitigate risks
Retrospective funding of the Charity imposes a financial risk on the organisation in terms of cash flow,
and whilst these funds are dependable Government based funds. they can be precarious in terms of
when they can be expected. We therefore have to balance our range of funds, be￿een funding,
trading and grants, to enable regular cash flow. this includes requesting retrospective funding from a
number of sources to be paid within a 30 day period. We are most exposed in terms of cash flow by
the DWP'S Access to Work Funding, which at present is very unpredictable, as we extend the number
of Supported Internships, Supported Shared Apprenticeships and in work support, we offer across the
South Wales area.
Objectives and activities
A summary of the purposes of the charity as set out in its governing document
ELITE'S objective are..
The relief of those in need, particularly in South and West Wales, by reason of disability,
youth, age, ill health, financial hardship or other disadvantsge by aiding them to advance
into employment and in pursuing any other objects for the well-being of those people which
are now or hereafter may be deemed by law to be charitable.
To promote the rights and well-being of those people in need through helping secure paid
employment.

E.L.l.T.E. Supported Employment Agency Limited
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2024
Objectives and activities (continued)
Summary of main aims, activities and achievement in relation to those purposes for the public
benefit
The vision that shapes our annual activities remains the promotion and fostering of equality of
opportunity for disabled people and those at disadvantage by the provision of one to one support and
training of individuals as follows..
Guidance and counselling incorporating specialised person centred assessments, action
planning and local employment awareness.
Employment preparation courses incorporating employment visits, employment tasters,
work awareness factors such as interview preparation, health & safety, rights &
responsibilities and social awareness.
Enabling individuals to a¢￿sS and maintain paid employment via specialised and structured
one-to-one support and training.
Raising awareness to local employers in relation to gcM)d practice in the recruitment and
employment of disabled people.
The charity also has the general aim of contributing to the quality of life of disabled people, throughout
South, West, Mid and East Wales by expanding their horizons through the above activities which
would enable improved finances, social integration and development of independence.
Contribution made by volunteers
ELITE values every one of its volunteers and the hours that they commit to our Charity throughout
each year. During the 23124 financial year. their work had an estimated value of £12,672, which
enabled a range of additional support and administration to be provided to our participants and across
our social enterprises. This equated to approximately 1,056 hours of volunteer time, contributed
across the whole of the Charity. In response to our volunteerfs contributions, we welcome them to
attend all training offered to our paid staff, social events, and we feel ifs really important to nominate
them for a range of awards to recognise their commitment and contribution. Likewise, we also
demonstrate their achievements through our range of social media posts and ne￿orkS.
Public Benefit
In shaping our objectives for the year and planning our activities, the Trustees have considered the
Charity Commission's guidance on public benefit. including the guidance on public benefit and fee
charging. The charity relies on grants and fee generated to cover its operating costs. In setting our
fees and the range of grants that we pursue, the Trustees give careful consideration to the
accessibility of our services for all.
Strategic report
The following sections for achievements and performance and financial review form the strategic
report of the charity.

E.L.l.T.E. Supported Employment Agency Limited
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2024
Achievements and performance
Summary of the main achievements of the charity, identifying the difference the charity's work
has made to the circumstances of its beneficiaries and any wider benefits to society as a whole
Throughout the financial year the Charity continued to support more than 300 disabled or
disadvantaged people in terms of their employment ambitions, including paid work, training, and
volunteering, operating across 16 counties in South, East, West, and Mid Wales. These activities
occurred within our social enterprises and within our communities, enabling individual's vocational
development and independence.
We continued our DWP Restsrt contract as a sulFcontractor for Serco, working with Jobcentres at
Llantrisant, Pontypridd, Aberdare, and Ebbw Vale. This Servi￿ assists those individuals who are
experiencing unemployment, to pursue employment, through a range of one-to-one support.
The Charity recognised that 23124 was its final years of the Engage to Change Project for youths with
learning disabilitiesldifficulties and autism, plus the Jobsense Project for people with sight loss or
hearing loss. These projects were operated to not only provide services, but to also influence future
government policy. As such, this financial year saw establishment in Welsh Government employment
and training provision, through their work with ELITE and other partners, embedding Supported
Shared Apprenticeships for disabled people. who required enhanced levels of support, alongside the
Supported Job Growth Wales Plus Programme. for young disabled people aged 16 to 19, to
experience gateway opportunities to employment alongside their peers.
Likewise, we saw continuance of Supported Intemships being operated by ELITE, alongside College
and Employer Partners to provide supported vocational internship experiences to young people with
learning disabilitiesldifficulties or autism. In total ten internship programmes were operated, providing
72 young people with a vocational experience in their final year in FE. The programme suc￿SsfUllY
enables young people to transition to employment from education, with more than 40% of young
people gaining employment at programme end, with numbers growing beyond this period, due to the
experience they've developed.
We also continued a pilot programme of an Adjustment Passport for Disabled People with the DWP'S
Access to Work Policy team, to aid the support individuals can achieve in terms of employment
support.
There were also a range of significant developments across our Social Enterprises in 23124, which
enabled job security for our staff along with training and support opportunities for others.
ELITE Paper Solutions developed a working relationship with Gower Granary to take our eco animal
bedding to a larger scale market, this is still in its infancy. Our programme is a great example of
Circular Economy practices in Wales and as such has been acknowledged by Cardiff Metropolitan
University. Likewise, in February 24 we CoMmen￿d a Project Pilot "Feedcycle" to repurpose NHS
plastics into other commodities. This is a collaboration bebNeen EPS, Cwm Taf Morgannwg UHB and
Pulse Plastics, Blaenau Gwent.
ELITE Clothing Solutions created a collaboration betsveen two social enterprises and a SME in Wales,
to tender for the Transport for Wales uniform and workwear contract. This was awarded to our Welsh
consortium in August 2023. It is the first of its kind in Wales. Throughout the remainder of 23124 we
have designed and developed the uniform needs of stsff at Transport for Wales.

E.L.l.T.E. Supported Employment Agency Limited
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2024
Financial review
Transactions and Financial position
The financial statements are set out on pages 13 to 34. These financial statements have been
prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the
Republic of Ireland,, the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.
The Statement of Financial Activities shown on page 13 to 15 to the accounts discloses net outgoing
resources for the year of £428.910 {2023. net outgoing £220,512).
The total reserves at the year end stand at £618,316 (2023: £1,047,226).
Reserves Policy
To maintain our seNices across the organisation we aim to hold up to six months running costs, to
ensure that we can maintain services for this period of time for our participants, while we strive to
attract new funds. Our reserves have been considerably challenged during 23124, due to retrospective
funding, and mirrors the experiences of many charities across the UK.
Investment Policy
The organisation has just one investment account, but this generally assists our current accounts in
terms of cash flow. The majority of our Charity's investments are held in buildings capital (although
mortgaged) to ensure that we can operate our ServI￿S in the longer term. This includes rental of our
properties too.
Specific changes in fixed assets
All movements in fixed assets are shown in notes 19 and 20 to the accounts.

E.L.l.T.E. Supported Employment Agency Limited
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2024
Plans for future periods
The Trustees have noted the deficit prodU￿d in the year ended 31 March 2024 (as noted in the
Statement of Financial Activities on Page 13). They are also cognizant that deficits have continued in
the current financial period. To address this, the charity has entered into detailed and lengthy
discussions with another, larger charity with a view to the charities combining as a group. The charity
has undertaken due diligence on this charity and is aware that the charity seeking to combine with
E.L.l.T.E is well able to provide additional funding as well as having much expertise and experience in
the Sector. A draft Combination Statement has been produced, and the combination will, with near
certainty, take place in March 2025. Accordingly, after having considered the matter carefully, and
having regard to other factors such as potential contracts in the pipeline, the Trustees consider, with
reasonable certainty, that the charity will continue to operate for the next 12 months.
In the next year we aim to continue our ethical environmental perspectives, particularly in terms of the
social enterprise building that we now own. Our ambition for the future is to utilise alternative energy
sources at this site and we'll continue our work in this area in 24125. In line with this, we will continue
to reuse, renew, and repurpose waste streams within our organisation, whether through our general
operations or in line with the ServI￿S offered at each of our social enterprises. We plan to roll out our
findings of the Feedcycle Project, with the aim of embedding this work within other NHS bodies across
Wales, plus other Public, Private and Third Sector organisations. This diversification is crucial to our
financial sustainability- We aim to conduct a range of this work in partnership with the NHS and
Lyreco's Wellbeing Wales ambitions. We recognise that to pursue the range of our plans, that we will
need to attract new funding and grants to the Charity, to implement these developments.
We plan to continue influencing Welsh Government in terms of employment and training opportunities
for disabled people. Likewise, we will continue working with employers in line with our Disability
Confident Leader status, to enable their development as inclusive employers.
We plan to continue our development work with Colleges and Employers across Wales to increase the
number of Supported Internship opportunities, supporting more young disabled people in the transition
from education to employment. In terms of our social enterprises, we plan to offer more opportunities
of apprenticeships, gaining work through our pursuance of contracts via the Public Sector, to enable
sustainability. Our social enterprises will also continue offering vocational opportunities to schools,
colleges and individuals in our communities to enable their economic engagement.
We are also aware of development and funding opportunities on the horizon, and plan to submit
applications to operate the UK Government DINP Programme currently named Universal Support and
the National Lottery Community Fund's Sustainable Steps Wales
Green Careers. Both of these
programmes will enable us to provide one to one job coach support to disabled individuals in terms of
their employment ambitions.
Trustees. responsibilities statement
The trustees, who are also directors for the purposes of company law, are responsible for preparing
the trustees, report and the financial statements in accordan￿ with applicable law and United
Kingdom Accounting Standards (United Kingdom Generally AC￿pted Accounting Practice).
Company law requires the charity trustees to prepare financial ststements for each year which give a
true and fair view of the state of affairs of the charitable company and the incoming resources and
application of resources, including the income and expenditure, for that period.

E.L.l.T.E. Supported Employment Agency Limited
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2024
In preparing these financial statements, the trustees are required to=
select suitable accounting policies and then apply them consistently-
observe the methods and principles in the applicable Charities SORP;
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards have been followed, subject to any material
departures disclosed and explained in the financial statements.,
prepare the financial statements on the going cOn￿M basis unless it is inappropriate to presume
that the charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and
explain the charity's transactions and disclose with reasonable accuracy at any time the financial
position of the charity and enable them to ensure that the financial statements comply with the
Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence
for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Auditor
Each of the persons who is a trustee at the date of approval of this report confirms that..
so far as they are aware, there is no relevant audit information of which the charity's auditor is
unaware., and
they have taken all steps that they ought to have taken as a trustee to make themselves aware of
any relevant audit information and to establish that the charity's auditor is aware of that
information.
The trustees, annual report and the strategic report were approved on 16 January 2025 and signed on
behalf of the board of trustees by-
MrA Hole
Trustee
Mr R Jones
Trustee

E.L.l.T.E. Supported Employment Agency Limited
Company Limited by Guarantee
Independent Auditor's Report to the Members of E.L.l.T.E. Supported
Employment Agency Limited
Year ended 31 March 2024
Opinion
We have audited the financial statements of E.L.l.T.E. Supported Employment Agency Limited {the
'charity') for the year ended 31 March 2024 which comprise the statement of financial activities
(including income and expenditure account), statement of financial position, statement of cash flows
and the related notes, including a summary of significant accounting policies. The financial reporting
framework that has been applied in their preparation is applicable law and United Kingdom Accounting
Standards, including FRS 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..
give a true and fair view of the stste of the charity's affairs as at 31 March 2024 and of its
incoming resources and application of resour￿$, including its income and expenditure, for the
year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Practice.,
have been prepared in accordan￿ with the requirements of the Companies Act 2006.
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 charity 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.
We note the detailed explanations given by the Trustees in Note 3 (Going Concern) to these financial
statements. The negotiations with the third-paty charity interested in combining with this charity are
well advanced. The evidence available indicates that the combination should take place before the
next financial year-end, and that this charity has financial reseNes to fund any future deficits as well
as to fund the future expansion of this organisation in due course.
Our responsibilities and the responsibilities of the trustees with respect to going con￿rn are described
in the relevant sections of this report.

E.L.l.T.E. Supported Employment Agency Limited
Company Limited by Guarantee
Independent Auditor's Report to the Members of E.L.l.T.E. Supported
Employment Agency Limited (continued)
Year ended 31 March 2024
Other inforniation
The other information comprises the information included in the annual report, other than the financial
statements and our auditor's report thereon. The trustees are responsible for the other information.
Our opinion on the financial statements does not cover the other information and, except to the extent
otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other
information and, in doing so, consider whether the other information is materially inconsistent with the
financial statements or our knowledge obtained in the audit or otherwise appears to be materially
misstated. If we identify such material inconsistencies or apparent material misstatements, we are
required to determine whether there is a material misstatement in the financial statements or a
material misstatement of the other information. 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..
the information given in the trustees, report for the financial year for which the financial
ststements are prepared is consistent with the financial statements., and
the trustees, report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charity and its environment obtained in the
course of the audit, we have not identified material misstatements in the trustees, 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..
adequate accounting records have not been kept, or returns adequate for our audit have not
been received from branches not visited by us., or
the financial statements are not in agreement with the accounting records and returns,. or
rtain disclosures of trustees, remuneration specified by law are not made,. or
we have not received all the information and explanations we require for our audit.

E.L.l.T.E. Supported Employment Agency Limited
Company Limited by Guarantee
Independent Auditor's Report to the Members of E.L.l.T.E. Supported
Employment Agency Limited (continued)
Year ended 31 March 2024
Responsibilities of trustees
As explained more fully in the trustees, responsibilities statement, the trustees (who are also the
directors 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 charity'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 charity or to cease
operations, or have no realistic alternative but to do so.
Auditorfs 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 when it
exists. Misstatements can arise from fraud or error and are considered material if, individually or in the
aggregate, they could reasonabty 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=
By enquiring with senior management and those charged with governance all area of risk
identified were considered and any potential litigation or claim, if any, were noted
Ensuring by enquiry that there were no issues of non-compliance with laws and regulations
relating to tax and compliance
By obtaining an understanding of the company's policies and procedures on Complian￿ with
laws and regulations, and with best accounting practice
Noting issues discussed with Directors and the Senior Management Team as this relates to
risks faced by the company
Reviewing information received from the company's solicitors, if any. and discussing their
contents with the Directors
Reviewing disclosures in the financial statements and testing to supporting documentation to
assess compliance with applicable laws and regulations
Auditing the risk of management overrides of controls including testing journal entries and
other adjustments for appropriateness and evaluating the business rationale of significant
transactions outside the nomial course of business
10

E.L.l.T.E. Supported Employment Agency Limited
Company Limited by Guarantee
Independent Auditor's Report to the Members of E.L.l.T.E. Supported
Employment Agency Limited (continued)
Year ended 31 March 2024
As part of an audit in accordance with ISAS (UK), we exercise professional judgment and maintain
professional scepticism throughout the audit. We also:
Identify and assess the risks of material misstatement of the financial statements, whether due to
fraud or error, design and perform audit procedures responsive to those risks, and obtain audit
evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not
detecting a material misststement resulting from fraud is higher than for one resulting from error,
as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override
of internal control.
Obtain an understsnding of internal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by the trustees.
Conclude on the appropriateness of the trustees. use of the going concern basis of accounting
and, based on the audit evidence obtained, whether a material uncertainty exists related to
events or conditions that may cast significant doubt on the charity's ability to continue as a going
concern. If we conclude that a material uncertainty exists, we are required to draw attention in
our auditor's report to the related disclosures in the financial statements or, if such disclosures
are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained
up to the date of our auditorfs report. However, future events or conditions may cause the charity
to ￿ase to continue as a going COn￿M.
Evaluate the overall presentation, structure and content of the financial statements, including the
disclosures, and whether the financial statements represent the underlying transactions and
events in a manner that achieves fair presentation.

E.L.l.T.E. Supported Employment Agency Limited
Company Limited by Guarantee
Independent Auditor's Report to the Members of E.L.l.T.E. Supported
Employment Agency Limited (continued)
Year ended 31 March 2024
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 audiL
Use of our report
This report is made solely to the charity'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
charity's members those matters we are required to state to them in an auditorfs report and for no
other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to
anyone other than the charity and the charity's members as a body, for our audit work, for this report,
or for the opinions we have formed.
eL.J..
Jonathan Rhodes Bsc BFP FCA (Senior Statutory Auditor)
For and on behalf of
Walter Hunter & Co Limited
Chartered accountants & statutory auditor
24 Bridge Street
Newport
South Wales
NP20 4SF
16 January 2025
12

E.L.l.T.E. Supported Employment Agency Limited
Company Limited by Guarantee
statement of Financial Activities
(including income and expenditure account)
Year ended 31 March 2024
2024
Total from
(x)ntinuiThJ Discmtinued
creraticms
operdtions Total funds
2023
Total from
cmtinuing Discontinued
operdtions
OFerations
Unresthcted Restrth
funds
nds
Tot81 funds
Income and endowments
Donations and legacies
Charitable actiwties
Trading acts"vits"es
Investment incotne
8,000
1,070,132
826,279
86,268
8,000
1,687.596
814,110
86,268
8,000
1,687,596
B26.279
86,26B
617,464
2,419,458
701.774
51,292
2,419,458
701,774
51,292
12,169
Total income
1,990,679
617.464
2.595.974
12.169
2.608,143
3.172.524
3.172.524
Expenditure
Expenditu￿ on raising fvnds".
Costs of other trading 8Ctivrfcies
ExpendrtU￿ on chantable aCti￿1￿e$ 10,11
Other experKliture
Totsl expen￿￿Ure
7.503
2.321.158
7.503
3.143.721
7.503
3.213.800
892.642
70.079
3.392.062
974
3.392.062
974
2,328.661
892.642
3.151.224
70.079
3.221,303
3.393.036
3.393.036
Net gains on yoperties
15
184.250
184.250
184.250
Net expenditure and net movement in
funds
1153.7321
1275.1781
1371.CKIOI
157.910}
1428,9101 1220.5121
1220.5121
The statement of financial activities (including income and expenditure account)
continues on the following page.
The notes on pages 1B to 34 forni partof these financial statements.
13

E.L.l.T.E. Supported Employment Agency Limited
Company Limited by Guarantee
statement of Financial Activities
(including income and expenditure account)
Year ended 31 March 2024
2024
Total from
(x)ntinuiThJ Discmtinued
creraticms
operdtions Total funds
2023
Total from
cmtinuing Discontinued
operdtions
OFerations
Unresthcted Restrth
funds
nds
Tot81 funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
713,031
334.195
1,047,226
1,047,226
1,267.738
1.267,738
559,299
59.017
618.316
157.9101
560,406
1,047.226
1,047,226
The staternent of finanoal activthe5 indudes all gains aThJ ILEses recryJnised in the year.
The statement of financial activities (including income and expenditure account)
continues on the following page.
The notes on pages 1B to 34 forni partof these financial statements.

E.L.l.T.E. Supported Employment Agency Limited
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account) (continued)
Year ended 31 March 2024
The Trustees have noted the deficit prodU￿d in the year ended 31 March 2024 (as noted in the
Statement of Financial Activities on Page 13). They are also cognizant that deficits have continued in
the current financial period. To address this, the charity has entered into detailed and lengthy
discussions with another, larger charity with a view to the charities combining as a group. The charity
has undertaken due diligence on this charity and is aware that the charity seeking to combine with
E.L.l.T.E is well able to provide additional funding as well as having much expertise and experience in
the Sector. A draft Combination Statement has been produced, and the combination will, with near
certainty, take place in March 2025. Accordingly, after having considered the matter carefully, and
having regard to other factors such as potential contracts in the pipeline, the Trustees consider, with
reasonable certainty, that the charity will continue to operate for the next 12 months.
The notes on pages 18 to 34 forni part of these financial statements.
15

E.L.l.T.E. Supported Employment Agency Limited
Company Limited by Guarantee
Statement of Financial Position
31 March 2024
2024
2023
Note
Fixed assets
Tangible fixed assets
Investments
20 1,080,760
21
175,000
1,255,760
944,677
165,000
1,109,677
Current assets
Stocks
Debtors
Cash at bank and in hand
22
23
6,658
732,971
167,247
3,583
566,014
458,810
906,876
1,028,407
Creditors: amounts falling due within one year
Net current assets
24
771,057
290,807
135,819
737,600
Total assets less current liabilities
1,391,579
1,847,277
Creditors: amounts falling due after more than one year
Net assets
25
773,263
800,051
618,316
1,047,226
Funds of the charity
Restricted funds
Unrestricted funds..
Revaluation reseNe
Other unrestricted income funds
59,017
334,195
22,927
536,372
22,927
690,104
Total unrestricted funds
559,299
713,031
Total charity funds
27
618,316
1,047,226
These financial statements were approved by the board of trustees and authorised for issue on 16
January 2025, and are signed on behalf of the board by..
MrA Hole
Trustee
Mr R Jones
Trustee
The notes on pages 18 to 34 forni part of these financial statements.
16

E.L.l.T.E. Supported Employment Agency Limited
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 March 2024
2024
2023
Note
Cash generated from operations
29
(289,249) (438,962)
Interest paid
Interest received
(48,658)
2,933
(38,010)
447
Net cash used in operating activities
(334,974) (476,525)
Cash flows from investing activities
Dividends, interest and rents from investments
Purchase of tangible assets
Net cash froml{used in) investing acts-vities
83,335
50,845
(18,730) (930,862)
64,605
(880,017)
Cash flows from financing activities
Proceeds from borrowings
Repayments of borrowings
Net cash (used in)Ifrom financing activities
821,246
(61,285)
759,961
(21,194)
(21,194)
Net decrease in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
(291,563)
458,810
(596,581)
1,055,391
167,247
458,810
The notes on pages 18 to 34 forni part of these financial statements.
17

E.L.l.T.E. Supported Employment Agency Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
General information
The charity is a public benefit entity and a private company limited by guarantee, registered in
England and Wales and a registered charity in England and Wales. The address of the
registered Offi￿ is 8 Magden Park, Green Meadow, Llantrisant, Rhondda Cynon Taf, CF72 8XT.
Statement of compliance
These financial statements have been prepared in Complian￿ with FRS 102, 'The Financial
Reporting Standard applicable in the UK and the Republic of Ireland,, the 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) {Charities
SORP (FRS 102)) and the Companies Act 2006.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the
revaluation of certain financial assets and liabilities and investment properties measured at fair
value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concem
The Trustees have noted the deficit produced in the year ended 31 March 2024 (as noted in the
Statement of Financial Activities on Page 13). They are also cognizant that deficits have
continued in the current financial period. To address this, the charity has entered into detailed
and lengthy discussions with another, larger charity with a view to the charities combining as a
group. The charity has undertaken due diligence on this charity and is aware that the charity
seeking to combine with E.L.l.T.E is well able to provide additional funding as well as having
much expertise and experience in the Sector. A draft Combination Statement has been
produced, and the combination will. with near certainty. take place in March 2025. Accordingly,
after having considered the matter careful￿. and having regard to other factors such as potential
contracts in the pipeline, the Trustees consider. with reasonable certainty, that the charity will
continue to operate for the next 12 months.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements,
estimates and assumptions that affect the amounts reported. These estimates and judgements
are continually reviewed and are based on experience and other factors, including expectstions
of future events that are believed to be reasonable under the circumstances.
Income L3x
As a charity, E.L.l.T.E. Supported Employment Agency Limited. is exempt from tax on its income
and gains, to the extent that such income or gains are applied exclusively to charitable purposes.
No tax charges have arisen in the charity.
18

E.L.l.T.E. Supported Employment Agency Limited
Company Limited by Guarantee
Notes to the Financial Statements (conlinuedj
Year ended 31 March 2024
Accounting policies (continued)
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the
charity's purposes.
Designated funds are unrestricted funds eannarked by the trustees for particular future project or
commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or
through the terms of an appeal and fall into one of sub-classes.. restricted income funds or
endowment funds.
There is no formal policy of transfer be￿een funds or on the allocation of funds to designated
funds other than described above.
Incoming resources
All income is included in the statement of financial activities when entitlement has passed to the
charity, it is probable that the economic benefits associated with the transaction will flow to the
charity and the amount can be reliably measured. The following specific policies are applied to
particular categories of income"
income from donations or grants is recognised when there is evidence of entitlement to the gift,
receipt is probable and its amount can be measured reliably.
income from contracts for the supply of services is recognised with the delivery of the
contracted service. This is classified as unrestricted funds unless there is a contractual
requirement for it to be spent on a particular purpose and returned if unspent, in which case it
may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any
VAT which cannot be fully recovered, and is classified under headings of the statement of
financial activities to which it relates.
expenditure on charitable acttvities includes all costs incurred by a charity in undertaking
activities that further its charitable aims for the benefit of its beneficiaries, including those support
costs and costs relating to the governance of the charity apportioned to charitable activities.
other expenditure includes all expenditure that is neither related to raising funds for the charity
nor part of its expenditure on charitable activities.
19

E.L.l.T.E. Supported Employment Agency Limited
Company Limited by Guarantee
Notes to the Financial Statements (conlinuedj
Year ended 31 March 2024
Accounting policies (continued)
Resources expended (continued)
All costs are allocated to expenditure categories reflecting the use of the resour￿. Direct costs
attributable to a single activity are allocated directly to that activity. Shared costs are apprortioned
be￿een the activities they contribute to on a reasonable, justifiable and consistent basis.
Irrecoverable VAT
Irrecoverable VAT is charged against the category of reSoUr￿S expended for which it was
incurred.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The
aggregate benefit of lease incentives is recognised as a reduction to expense over the lease
term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any
accumulated depreciation and impairment losses. Any tangible assets carried at revalued
amounts are recorded at the fair value at the date of revaluation less any subsequent
accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other
recognised gains and losses, unless it reverses a charge for impairment that has previously been
recognised as expenditure within the statement of financial activities. A decrease in the carrying
amount of an asset as a result of revaluation, is recognised in other recognised gains and losses,
except to which it offsets any previous revaluation gain, in which case the loss is shown within
other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual
value, over the useful economic life of that asset as follows:
Freehold property
Plant and machinery
Fixtures and fittings
Computer equipment
Improvements to propety
20A per annum straight-line
33 /0 per annum straight-line
15 /0 per annum straight-line
33 /0 per annum straight-line
33 % per annum straight-line
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly
attributable expenditure.
Investment propety is revalued to its fair value at each reporting date and any changes in fair
value are recognised in income or expenditure.
20

E.L.l.T.E. Supported Employment Agency Limited
Company Limited by Guarantee
Notes to the Financial Statements (conlinuedj
Year ended 31 March 2024
Accounting policies (continued)
Investment property (continued)
If a reliable measure of fair value is no longer available without undue cost or effort for an item of
investment property. it shall be transferred to tangible assets and treated as such until it is
expected that fair value will be reliably measurable on an on-going basis.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and
sell. Cost includes all costs of purchase. costs of conversion and other costs incurred in bringing
the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a paty to the
contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount re￿1vable or payable including
any related transaction costs, unless the arrangement constitutes a financing transaction, where
it is recognised at the present value of the future payments discounted at a market rate of
interest for a similar debt instrument
Current assets and current liabilities are subsequently measured at the cash or other
consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence
of impairment at the end of each reporting date. If there is objective evidence of impairment, an
impairment loss is recognised under the appropriate heading in the statement of financial
activities in which the initial gain was recognised.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not
result in a carrying amount of the financial asset that eX￿edS what the carrying amount would
have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which
the related service is provided. Prepaid contributions are recognised as an asset to the extent
that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the
reporting date in which the employees render the related service, the liability is measured on a
discounted present value basis. The unwinding of the discount is recognised as an expense in
the period in which it arises.
21

E.L.l.T.E. Supported Employment Agency Limited
Company Limited by Guarantee
Notes to the Financial Statements (conlinuedj
Year ended 31 March 2024
Limited by guarantee
The charity is incorporated under the Companies Act 2006 and is limited by guarantee, each
member having to contribute such amounts not exceeding £10 as may be required in the event
of the company being wound up whilst they are still a member or within one year thereafter.
Number of members of the charity as at 31 March 2024 is 5 (2023: 6).
Donations and legacies
Unrestricted Total Funds Unrestricted Totsl Funds
Funds
2024
Funds
2023
Donations
Donations
8.000
8.000
Charitable activities
Unrestricted
Funds
Restricted Total Funds
Funds
2024
2024
Local Authority grants
Action on Hearing (Job Sense East Wales)
Welsh Government {JobSense West Wales &
Valleys)
DOE Ac￿sS to Work
The Big Lottery Fund (Engage 2 Change)
SERCO (Restart)
Supported Apprenticeships, Internships &
Traineeships
DWP Kickstart
ITEC Income
Other income
60,877
8,727
60,877
8,727
373,351
373,351
208,933
85,181
383,635
208,933
85,181
383,635
451,391
451,391
26,173
89,328
115,501
1,070,132
617,464
1,687,596
Unrestricted
Funds
Restricted Total Funds
Funds
2023
2023
Local Authority grants
Action on Hearing (Job Sense East Wales)
Welsh Government {JobSense West Wales &
Valleys)
DOE Access to Work
The Big Lottery Fund (Engage 2 Change)
SERCO (Restart)
Supported Apprenticeships. Internships &
Traineeships
DWP Kickstart
ITEC Income
Other income
64,763
15,850
64,763
15,850
474,854
474,854
127,108
891,301
464,261
127,108
891,301
464,261
287,101
32,782
287,101
32,782
18,000
43,438
18,000
40,966
2.472
913,724
1,505,734
2,419,458
22

E.L.l.T.E. Supported Employment Agency Limited
Company Limited by Guarantee
Notes to the Financial Statements (conlinuedj
Year ended 31 March 2024
Trading activities
Unrestricted Totsl Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Fundraising events
Paper Solutions
Clothing Solutions
Training Solutions
Catering Enterprise
6,828
376,503
402,290
28,489
12,169
6,828
376,503
402,290
28,489
12,169
447,221
188,812
65,741
447,221
188,812
65,741
826,279
826,279
701,774
701,774
Investment income
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Income from investment properties
Bank interest re￿1vable
83,335
2,933
83,335
2,933
50,845
447
50,845
447
86,268
86,268
51,292
51,292
Costs of other trading activities
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Costs of other trading activities -
Staging events
7.503
7.503
23

E.L.l.T.E. Supported Employment Agency Limited
Company Limited by Guarantee
Notes to the Financial Statements (conlinuedj
Year ended 31 March 2024
10. Expenditure on charitable activities by fund type
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Work Preparation, Job Matching and In Work Support
Paper Solutions
Clothing Solutions
Training Solutions
Catering Enterprise
Support costs
998,964
614,462
448,566
59,152
72,782
127,232
787,204
77,996
1,786,168
692,458
448,566
59,152
72,782
154,674
27,442
2,321,158
892,642
3,213,800
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Work Preparation, Job Matching and In Work Support
Paper Solutions
Clothing Solutions
Training Solutions
Catering Enterprise
Support costs
750,623
535,836
182,056
50,309
1,448,242
105,692
132,028
2,198,865
641,528
314,084
50,309
164,099
23,177
187,276
1,682,923
1,709,139
3,392,062
11. Expenditure on charitable activities by activty type
Activities
undertaken
directly Support costs
Total funds
2024
Total fund
2023
Work Preparation, Job Matching and In
Work Support
Paper Solutions
Clothing Solutions
Training Solutions
Catering Enterprise
Governance costs
1,786.168
692,458
448,566
59.152
72.782
(12,793)
87,904
62.362
7.124
4.877
5.200
1,773,375
780,362
510,928
66,276
77,659
5,200
2,284,311
658,088
383,284
61,379
5,000
3.059.126
154.674
3,213,800
3,392,062

E.L.l.T.E. Supported Employment Agency Limited
Company Limited by Guarantee
Notes to the Financial Statements (condns
Year ended 31 March 2024
12. Analysis of support costs
Employer
SUp￿rt &
Training
Grants
Paper
S(Aubons
Clothing
9￿utionS
Traini
Catering
&Autions Enterprise Total 2024 Totsl 2022
Finan￿ costs
Governan￿ ￿)st8
Depreoation
Intemal recharges
46.580
36 606
19.547
1110.3261
674
10.550
33.492
43.188
121
1.959
3.148
57.134
102
792
710
5.520
393
47.870
49.907
56,897
42,329
63,174
81,773
4,484
17.5931
87.904
62.362
7,124
4,877
154.674
187,276
25

E.L.l.T.E. Supported Employment Agency Limited
Company Limited by Guarantee
Notes to the Financial Statements (conlinuedj
Year ended 31 March 2024
13. Other expenditure
Unrestricted Totsl Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Loss on disposal of tangible fixed
assets held for charity's own use
974
974
14. Net gains on properties
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Net gains on properties
184,250
184,250
The properties of the charity were valued on 19 December 2024 by Brinsons Chartered
Surveyors & Estate Agents, Market Street, Caerphilty, CF83 1 NX on an existing use basis. The
Trustees consider the fair value of the properties to be the same as at 31 March 2024. See
notes 19 and 20 to the financial statements.
15. Net expenditure
Net expenditure is stated after chargingl(crediting)=
2024
2023
Depreciation of tangible fixed assets
Loss on disposal of tangible fixed assets
Operating lease rentals
Net gains on properties (Note 14)
56,897
81,773
974
64,327
64,428
184,250
16. Auditors remuneration
2024
2023
Fees payable for the audit of the financial statements
5,200
5,000
Fees payable to the charity's auditor and its associates for other seNices=
Other non-audit services
12,932
3,500
26

E.L.l.T.E. Supported Employment Agency Limited
Company Limited by Guarantee
Notes to the Financial Statements (conlinuedj
Year ended 31 March 2024
17. Staff costs
The total staff costs and employee benefits ft)r the reporting period are analysed as follows:
2024
2023
Wages and salaries
Social security costs
Employer contributions to pension plans
2,003,749
135,693
68,672
2,303,343
179,369
71,675
2,208,114
2,554,387
The average head count of employees during the year was 133 (2023.. 132). The average
number of full-time equivalent employees during the year is analysed as follows=
2024
No.
2023
No.
Administrative & Finance staff
Staff employed on Charitable Activities
73
91
80
97
The number of employees whose remuneration for the year fell within the following bands, were..
2024
2023
No.
No.
£70,000 to £79,999
£80,000 to £89,999
Key Management Personnel
Key management personnel include all persons that have authority and responsibility for
planning, directing and controlling the activities of the charity. The total compensation paid to key
management personnel for services provided to the charity was £293,604 (2023.'£287,852).
18. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were
received by the trustees (2023.. £nil).
No trustee expenses have been incurred (2023: £nil).
27

E.L.l.T.E. Supported Employment Agency Limited
Company Limited by Guarantee
Notes to the Financial Statements (conlinuedj
Year ended 31 March 2024
19. Tangible fixed assets
Improvemen
tsto
propety
Freehold Plant and Fixtures and Computer
property machinery
fittings equipment
Total
Cost or
valuation
At 1 Apr 2023
Additions
Revaluations
893,622
212,227
18,112
42.721
68,049
618
67,560 1,284,179
18,730
174,250
174,250
At 31 Mar 2024
1,067,872
230,339
42,721
68,667
67,560 1,477,159
Depreciation
At 1 Apr 2023
Charge for the
year
17,872
181,303
31.181
41,586
67,560
339,502
31,315
4,763
20,819
56,897
At 31 Mar 2024
17,872
212,618
35,944
62,405
67,560
396,399
Carrying amount
At 31 Mar 2024
1,050,000
17,721
6,777
6,262
1,080,760
At 31 Mar 2023
875,750
30,924
11,540
26,463
944,677
Details of the loan relating to the freehold propety can be found at notes 23 and 24 to the
accounts.
Tangible fixed assets held at valuation
The propety at Units 1-5 Viaduct House. Merthyr Industrial Park, Pentrebach, Merthyr Tydfil,
CF48 4DR was valued on 19 December 2024 by Brinsons Chartered Surveyors & Estste Agents,
Market Street, Caerphilly. CF83 1 NX on an existing use basis. The Trustees consider the fair
value to be the same as at 31 March 2024.
28

E.L.l.T.E. Supported Employment Agency Limited
Company Limited by Guarantee
Notes to the Financial Statements (conlinuedj
Year ended 31 March 2024
20. Investments
Investment
properties
Valuation
At 1 April 2023
Additions
Fair value movements
165,000
10,000
At 31 March 2024
175,000
Impairnient
At 1 April 2023 and 31 March 2024
Carrying amount
At 31 March 2024
175,000
At 31 March 2023
165,000
All investments shown above are held at valuation.
Investment properties
The investment propety at 15 Talbot Road. Talbot Green, Ponytail, RCT, CF72 8AD was valued
on 19 December 2024 by Brinsons Chartered Surveyors & Estate Agents, Market Street,
Caerphilly, CF83 1 NX on an existing use basis. The Trustees consider the fair value to be the
same as at 31 March 2024.
21. Stocks
2024
2023
Stocks
6,658
3,583
22. Debtors
2024
2023
Trade debtors
Prepayments and accrued income
632,921
100,050
525,252
40,762
732,971
566,014
29

E.L.l.T.E. Supported Employment Agency Limited
Company Limited by Guarantee
Notes to the Financial Statements (conlinuedj
Year ended 31 March 2024
23. Creditors: amounts falling due within one year
2024
2023
Bank loan
Trade creditors
Accruals and deferred income
Social security and other taxes
Pension contributions unpaid
Other creditors
26,789
372,024
16,041
163,901
12,585
179,717
21,195
16,480
19,641
72,974
13,642
146,875
771,057
290,807
A bank loan of £828,000 was taken out in May 2022 to facilitate the purchase of Units 1-5
Viaduct House, Merthyr Tydfil. The loan is repayable over 20 years at an interest rate of
5.299 %. The loan is secured against this propety and the charity's investment propety.
24. Creditors: amounts falling due after more than one year
2024
2023
Bank loan
773,263
800,051
A bank loan of £828,000 was taken out in May 2022 to facilitate the purchase of Units 1-5
Viaduct House, Merthyr Tydfil. The loan is repayable over 20 years at an interest rate of
The loan is secured against this property and the charity's investment property.
25. Pensions and other post retirement benefrts
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined
contribution plans was £68,672 (2023: £71,675).
30

E.L.l.T.E. Supported Employment Agency Limited
Company Limited by Guarantee
Notes to the Financial Statements (conlinuedj
Year ended 31 March 2024
26. Analysis of charitable funds
Unrestricted funds
At
1 Apr 2023
Gains and
At
losses 31 Mar 2024
Income Expenditure
Transfers
General funds
Revaluation
reserve
Capital
Expenditure Fund
Project
Development
Fund
Redundancy
Fund
Project
Sustainment Fund
690,104 1.990,679 (2,328.661)
184,250
536,372
22,927
22,927
713.031 1.990,679 (2,328.661)
184,250
559,299
At
1 Apr 2022
Gains and
At
losses 31 Mar 2023
Income Expenditure
Transfers
General funds
Revaluation
reserve
Capital
Expenditure Fund
Project
Development
Fund
Redundancy
Fund
Project
Sustainment Fund
232,211 1,666,790 (1,683,897)
475,000
690,104
22,927
22,927
255,000
(255,000)
140,000
(140.000)
20.000
(20.000)
60,000
(60,000)
730.138 1.666.790 (1,683.897)
713,031
31

E.L.l.T.E. Supported Employment Agency Limited
Company Limited by Guarantee
Notes to the Financial Statements (conlinuedj
Year ended 31 March 2024
26. Analysis of charitable funds (continued)
Restricted funds
At
1 Apr 2023
Gains and
At
losses 31 Mar 2024
Income Expenditure
Transfers
Local Authority
ELITE Paper
Solutions
ELITE Clothing
Solutions
Engage 2 Change
Jobsense West
Wales & Valleys
Jobsense East
Wales
Landfill
Communities
Fund
ITEC
Merthyr Roots
WCVA
Barclays Bank plc
SBRI
40,637
60,877
(53,829)
47,685
289,910
85,181
(375,091)
3,648
373,351
(376,999)
8.727
(8.727)
16.667
(16.667)
1,094
(1,094)
71,567
(60,235)
(892,642)
11,332
334,195
617,464
59,017
At
1 Apr 2022
Gains and
At
losses 31 Mar 2023
Income Expenditure
Transfers
Local Authority
ELITE Paper
Solutions
ELITE Clothing
Solutions
Engage 2 Change
Jobsense West
Wales & Valleys
Jobsense East
Wales
Landfill
Communities
Fund
ITEC
Merthyr Roots
WCVA
Barclays Bank plc
SBRI
44,308
64.763
(68.434)
40,637
28,807
(28.807)
105,000
257,603
(105,000)
(858,994)
891,301
289,910
18,548
397,845
(412,745)
3,648
92,859
(92,859)
33,333
18,000
6,154
1,479
(33,333)
(18,000)
(6,154)
(1,479)
(83,334)
83,334
537,600 1,505,734 (1,709,139)
334,195
32

E.L.l.T.E. Supported Employment Agency Limited
Company Limited by Guarantee
Notes to the Financial Statements (conlinuedj
Year ended 31 March 2024
26. Analysis of charitable funds (continued)
Local Authorities
Our local authority funding enables ELITE to provide supported employment service to adults
with learning disabilities across the counties of Rhondda Cynon Taff, Bridgend and Powys.
Engage to Change
The Engage to Change Project is funded by the Big Lottery {derived from Welsh Government's
dispersal of dormant account funds). The project is operated in conjunction with Consortium
Partners Agoriad Cyf, LDW, Cardiff University and All Wales People First. The aim of the
Project is to enable supported employment opportunities for 1,000 young people aged 16 to 25
who have either a learning disability, learning difficulty or ASD, living in Wales. It is the highest
funded project ever awarded by the Big Lottery in Wales and is the largest transition project of its
kind across Europe.
27. Anatysis of net assets between funds
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Tangible fixed assets
Investments
Current assets
Creditors less than 1 year
Creditors greater than 1 year
Net assets
1.080.760
1,080,760
175.000
175,000
668.142
238,734
906,876
(591,340) (179,717) (771,057)
(773,263)
(773,263)
559.299
618,316
59,017
Unrestricted
Funds
Restricted Total Funds
Funds
2023
Tangible fixed assets
Investments
Current assets
Creditors less than 1 year
Creditors greater than 1 year
Net assets
944,677
165,000
601,269
(197,864)
(800,051)
713,031
944,677
165,000
427,138
1,028,407
(92,943) (290,807)
(800,051)
1,047,226
334,195
33

E.L.l.T.E. Supported Employment Agency Limited
Company Limited by Guarantee
Notes to the Financial Statements (conlinuedj
Year ended 31 March 2024
28. Cash generated from operations
2024
2023
Net expenditure
(428,910)
(220,512)
Adjustments for..
Depreciation of tangible fixed assets
Net gains on properties
Dividends, interest and rents from investments
Other interest receivable and similar income
Interest payable and similar charges
Loss on disposal of tangible fixed assets
Accrued income
56,897
(184,2501
(83,335>
12,9331
48,658
81,773
(50,845)
{447)
38,010
974
(1,302)
(3,600)
Changes in."
Stocks
Trade and other debtors
Trade and other creditors
13,075)
(166,957)
478,256
{566)
(183,714)
(102,333)
{289,249)
(438,962)
29. Anatysis of changes in net debt
At
At 1 Apr 2023 Cash flows 31 Mar 2024
Cash at bank and in hand
Debt due within one year
Debt due after one year
458.810
167,247
(21.1951
(26,789)
(800,051)
(773,263)
(362,436) (270,3691 (632,805)
(291,5631
15,5941
26,788
30. Operating lease commitments
The total future minimum lease payments under non-cancellable operating leases are as follows-
2024
2023
Not later than 1 year
Later than 1 year and not later than 5 years
52,268
36,715
45,144
70,438
88,983
115,582