2025-03-31-accounts

Gs,ey Welsh Ambulance Service =e” CHARITY

Welsh Ambulance Services NHS Trust Charity Annual Report and Accounts 2024-25

Charity Registration Number 1050084

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THANK YOU AND WELCOME

We are delighted to bring you the Welsh Ambulance Services NHS Trust Charity’s Annual Report for 2024-25.

We would like to extend our heartfelt and sincere thanks to everyone in our communities who has supported our charity. Thanks to your generosity, the Welsh Ambulance Service Charity was able to provide invaluable support to our patients, staff and volunteers, and improve the ways in which they provide vital services to our patients.

We would also like to thank the Trust’s staff and volunteers. The way in which you consistently deliver high standards of patient care is often directly linked to the additional support that can be provided to you, thanks to the donations and legacies that the Charity receives.

In October 2024, we welcomed our first Head of Charity – a key milestone for the development of the Charity. The Charity has an exciting future ahead, as we look to capitalise on new opportunities for fundraising and for collaboration between the Trust and Charity.

The Charity’s new strategic ambition sets out a clear path for how the Charity can provide additional benefit to patients throughout Wales, and we look forward to seeing the fruits of this work over the coming years.

With the appointment of a new Fundraising and Communications Officer (in October 2025), and the development of a new Fundraising Plan, the Charity’s main priority is to increase income and financial resilience over the next three years – which will in turn enable the Charity to invest in new, innovative projects that will benefit patients, staff and volunteers throughout Wales.

We sincerely hope that you will continue to support us. Please look out for more ways to do that over the coming year by keeping an eye on our website and on social media.

Many thanks again and I hope you enjoy reading this year’s report.

Colin Dennis Chair of the Corporate Trustee

Peter Curran Non-Executive Director and Chair of Charity Committee

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CONTENTS

1.	OUR PURPOSE, ACHIEVEMENTS AND PLANS .......................................................................................................... 4
1.1	Our Purpose ...................................................................................................................................................................... 4
1.2	How we help ..................................................................................................................................................................... 4
1.3	Our plans for 2025-26 and beyond ......................................................................................................................... 4
1.4	Our Strategic Objectives .............................................................................................................................................. 5
2.	OUR IMPACT ......................................................................................................................................................................... 6
2.1	Thank you for your generosity .................................................................................................................................. 6
2.2	Case Study – Our Community Welfare Responders .......................................................................................... 7
2.3	Case Study – WAST Netball Team ............................................................................................................................ 8
3.	OUR FINANCES ..................................................................................................................................................................... 9
3.1	Income ................................................................................................................................................................................ 9
3.2	Expenditure .....................................................................................................................................................................10
3.3	Overall Financial Position as at 31 March 2025 .................................................................................................11
3.4	Reserves Policy ..............................................................................................................................................................11
4.	OUR GOVERNANCE ..........................................................................................................................................................12
4.1	Structure, Governance and Management of the Charity ...............................................................................12
4.2	Our advisors ....................................................................................................................................................................14
4.3	Risk Management .........................................................................................................................................................14
4.4	Annex 1 – Membership of the WAST Trust Board as Corporate Trustee ................................................16
5.	ANNUAL ACCOUNTS .......................................................................................................................................................17

Pictured: Colleagues from Blackwood Ambulance Station run the CDF10K 2025 in aid of the Welsh Ambulance Service Charity

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1. OUR PURPOSE, ACHIEVEMENTS AND PLANS

1.1 Our Purpose

The Welsh Ambulance Service Charity is the official charity of the Welsh Ambulance Services University NHS Trust (WAST). The charity has the following charitable object:

The Trustee shall hold the trust fund upon trust to apply the income and at their discretion so far as may be permissible, the capital, for any charitable purpose or purposes relating to the National Health Service.

1.2 How we help

The Charity works closely with WAST to ensure that it allocates funding to areas where it can make the greatest impact.

We do not replace NHS funding but use the generous donations we receive to support WAST to provide services and activities over and above what the NHS can provide.

Ultimately, as per our charitable objects, all of the Charity’s expenditure benefits the patients and communities served by WAST. This includes projects that support our staff and volunteer wellbeing , where this has a demonstrable impact on the ability of our staff to care for sick patients.

In 2024-25, the Charity continued to use its donations to provide practical and emotional support for staff. This is always appreciated, particularly through the challenging winter period. The wellbeing support we funded supported our people to continue to be able to provide the highest quality of care for our patients during this very difficult period.

The Charity also purchased items to provide more welcoming surroundings for crews , which supported their wellbeing and provided additional training resources to further enhance the quality and standards of care provided by our people.

Thanks to a grant from NHS Charities Together, awarded in 2023-24, the Charity launched its Sports Fund during 2024-25. This fund is open to WAST staff and volunteers who wish to take part in sports or physical activities with other colleagues, benefitting their mental and physical wellbeing. In 2024-25, five sports teams benefitted from this funding, with further awards due to be made during 2025-26.

A further grant from NHS Charities Together, also awarded during 2023-24, means that the Charity can continue to support the Trust’s Volunteer Service through equipment and staffing costs. Thanks to this generous funding, the Charity has funded staffing costs to support the training and induction of the Trust’s Community Welfare Responders. This allows these vital volunteer roles to be able to respond to appropriate calls within the community, providing on-scene observations to remote clinicians.

1.3 Our plans for 2025-26 and beyond

In May 2025, the Corporate Trustee approved the Charity’s Strategic Objectives, which will guide our future growth and charitable activities. With the development of a new strategic purpose for the

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Charity, the Trust and Charity will work together to establish how this can be achieved in practice, through close partnership.

One of the goals for the next year will be to establish a series of flagship public fundraising appeals that clearly demonstrate how charitable funding can enhance the statutory and commissioned services provided by the Trust.

With the appointment of a new Head of Charity, and a Fundraising and Communications Officer, the Charity aims to develop new fundraising streams over the coming years. A new Fundraising Plan and Charity Delivery Plan have been developed, demonstrating how the Charity plans to meet its Strategic Objectives over the next three years.

The outlook for fundraising in the UK in 2025-26 is still expected to remain challenging and competitive. A key priority will be ensuring that the Charity can reach new audiences through marketing and communications, and demonstrate its impact more effectively, through a strong casefor-support. The Charity also plans to diversify its income streams to ensure that it is not over-reliant on any one funding source.

The Charity continues to benefit from grant funding from NHS Charities Together. In October 2025, the Charity was one of 13 NHS ambulance charities supported by the Community Resilience Grants Fund, made possible thanks to a successful partnership with Omaze. We are incredibly grateful to NHS Charities Together for this continued investment in our work.

1.4 Our Strategic Objectives

In May 2025, the Corporate Trustee approved three new strategic objectives for the Charity. These objectives were developed in consultation with staff and volunteers, and will help to define the purpose of the Charity. As the Charity continues to grow, the objectives will be used to prioritise charitable expenditure, and to inform how the Charity plans its future fundraising activities.

Objective 1:

The Charity will help WAST to support the wellbeing and development of its staff and volunteers, resulting in a healthier, happier and more experienced workforce

Objective 2:

The Charity will support WAST to build community resilience throughout Wales

Objective 3:

The Charity will support WAST to provide enhanced patient care, through additional projects and/or capital investment, and through testing new models of delivery

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2. OUR IMPACT

2.1 Thank you for your generosity

Every year, many patients and their families choose to make a donation to the Welsh Ambulance Service Charity, as a way of saying thank you to the Trust’s staff and volunteers. We are so grateful for your support, which in turn helps us to support our staff, volunteers and patients right across Wales.

Here is a selection of some of the messages we received during the past year.

“You're making a difference. Thank you. It is tough out there but please keep going.”

“This donation is for the Wish Ambulance to say a very big thank you from our family for helping our dad get to our mum's funeral. It meant so much to him and to all of us and it would not have been possible without the generosity of …the two lovely volunteers.”

“A BIG thank you to…the wonderful paramedics who accompanied us to our daughter's wedding at the weekend in the 'Wish Ambulance.' Their presence enabled us to have the most wonderful day - an absolute gift.”

“For the brilliant off-duty paramedic that was so calm on the train when helping {a patient]. What would we do without people like you?”

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2.2 Case Study – Community Welfare Responders

The introduction of Community Welfare Responders (CWRs) to WAST is an example of how the Welsh Ambulance Service Charity can support WAST to deliver innovative projects that support emergency patient care. Thanks to funding from NHS Charities Together’s Ambulance Grant, WAST has recruited, trained, and supported more than 300 new volunteers, bringing compassionate, community-based help directly to patients across Wales.

CWR volunteers are trained to attend appropriate 999 calls in their local communities. They carry out initial observations and relay this information directly to clinicians in our contact centres. This immediate assessment helps clinicians determine the safest and most appropriate care pathway for each patient, whether that is dispatching an ambulance, arranging a GP follow-up, or providing alternative clinical advice.

The NHS Charities Together Ambulance Services Grant has funded:

• Recruitment of four dedicated Support Officers who train volunteers, provide day-to-day operational support, and act as a single point of contact

• Purchase of essential observation equipment, uniforms, and resources

• Development of the systems and infrastructure required to safely deploy volunteers to urgent care calls

Without the support of the Welsh Ambulance Service Charity and the grant funding it can access, this innovative project and the community benefit it delivers simply could not exist.

CWRs have already supported thousands of calls across Wales, offering reassurance to patients and valuable clinical insight to control room teams. Each interaction demonstrates how volunteer-led urgent care can strengthen system capacity, reduce pressure on frontline crews, and improve patient experience.

For clinicians, the presence of a trained volunteer on scene provides real-time intelligence that improves decision-making and ensures ambulances are targeted to the patients who need them most.

“What the volunteers do is help us get to that safest solution. It makes a significant impact on how safely we are able to care for patients and it makes a difference to how we are best able to support patients who are at home…and are concerned for their health.” Liam Williams, Executive Director of Quality and Nursing

The CWR programme demonstrates the real impact that the Welsh Ambulance Service Charity can make within the Trust by helping to test and pilot a model that builds resilience, supports patients closer to home, and contributes directly to the Trust’s strategic ambitions. It is a clear example of how the Charity can support the Trust to create long-term and meaningful improvements to the services it provides.

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2.3 Case Study – WAST South Wales Netball Team

The WAST South Wales Netball Team is a brand-new sports team that provides staff with the opportunity to develop wellbeing, teamwork and connection across the Welsh Ambulance Service.

Prior to the Welsh Ambulance Service Charity’s support, the team didn’t exist. The need for the club and people wanting to get involved were always there, but efforts to get a team up and running had always fallen short. There were just too many barriers, with the initial start-up costs being the biggest barrier of all.

Thanks to the Charity’s support, and funding from NHS Charities Together, the team’s founders were finally able to realise their vision and bring the netball team to life. Support from the Charity covered kit, training equipment, court hire and match costs, ensuring that finances weren’t a barrier for anyone wanting to take part.

The result is a team that now brings together colleagues from across all directorates and provides a space where staff can stay active, socialise, and unwind from the pressures of frontline and support roles. Players describe the netball sessions as a weekly outlet for both mental and physical wellbeing.

“WAST Netball has played a huge role in improving both my mental and physical health. Being part of a supportive team has lifted my confidence and helped me build relationships outside my usual work area. Without the charity’s support, I wouldn’t have access to such a positive and empowering space.”

Since forming, the team has already won three of its first four matches, boosting morale especially for those new to the game. Players describe it as exactly what they need after a long week. But the real victory is the tangible impact it has had on staff wellbeing.

“WAST Netball has greatly improved my physical and mental health. It’s made WAST come together from all areas and I’ve made new friends. The support from the Charity has made a massive difference.”

The Welsh Ambulance Service Charity has been able to remove the barriers that had historically prevented a netball team getting off the ground. Through the Charity’s support, all staff members, including shift workers who are often excluded from participating in team sports, can enjoy the physical, mental, and social benefits that netball offers. Plus, through providing funding for a new kit, the Charity has helped give the team its identity which in turn has helped create a community where colleagues support each other both on and off the court.

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3. OUR FINANCES

3.1 Income

All income received is held in either unrestricted, designated, or restricted funds, dependent on conditions (if any) of the donation, legacy, or grant.

During 2024-25, 100% of the charity’s voluntary income (donations and legacies) was unrestricted. The Charity is grateful for all donations received, which enable us to deliver activities that will benefit staff, volunteers and patients. Wherever possible, the Charity will always encourage donors to make unrestricted donations, as this allows the Charity to utilise those funds where they are most needed at the time. Please note that the charity’s grant income is restricted for the purposes of that set-out within its grant applications.

The chart below shows our main sources of income in 2024-25 which total £66,838:

Donations £14,231 (2023/24 £19,435)

21% of the charity’s income has come from patients and their families wanting to show appreciation for the care and support they have received from our people.

We remain extremely grateful for all the support the public and staff have given us to help realise our aims.

Legacies £30,000 (2023/24 £164,886)

The charity received one legacy during 2024-25. The Welsh Ambulance Service Charity is grateful for all legacies and thankful to those who think of us when making their will.

Investment Income £22,607 (2023/24 £10,799)

This investment income comes in the form of dividends and interest from investment and cash balances held by the charity.

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3.2 Expenditure

During 2024-25 the charity has continued to support a wide range of charitable and health related activities across the WAST. Charitable expenditure is made with consideration given to public benefit and a process of review and evaluation is carried out on funding requests to ensure they align with the charity’s objects.

Examples of projects funded by the Charity during this period include:

• Project and staffing costs to help recruit and train Community Welfare Responders as part of the Trust’s Volunteer Service. Funded by NHS Charities Together, this project helps to support better remote clinical decision making through on-scene observations by volunteers.

• Wellbeing and mindfulness activities for our staff and volunteers, and practical wellbeing support for colleagues.

• The launch of the Charity’s Sports Fund, supported by NHS Charities Together. In 2024-25 the Charity awarded funding to five of WAST’s sports teams, to help support colleagues with their physical and mental wellbeing.

• Training bursaries for two staff members, enabling them to continue their professional development above and beyond what’s possible through NHS funding, and therefore helping to provide improved patient care.

Analysis of expenditure on charitable activities

In 2024-25 expenditure on charitable activities totalled £228,179 (2023/24 £105,039). The expenditure categories were as follows:

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Raising Funds

The total amount spent raising funds for 2024-25 was £18,338, of which £3,129 are support costs.

Management and administration costs

The total management and administration costs for 2024-25 were £42,068. This represents 4.4% of the opening fund balances held as at 1st April 2024.

Investments and performance

The charity holds investment units with CCLA Good Investment. These investments are managed by CCLA. No additional purchases were made during 2024-25. During 2024-25 the market value of the investments decreased by £5,567.

3.3 Overall Financial Position as at 31 March 2025

The value of the Charity as at 31 March 2025 was £761,640. This is a decrease of £185,246 from the previous year. This decrease in the value of the Charity is mainly due the planned expenditure of restricted grants received in previous years, including major grants from NHS Charities Together.

3.4 Reserves Policy

There were no recurrent commitments in 2024-25, other than the £10,000 management fee (and similarly into 2025-26) against unrestricted charitable fund balances. Note that the Charity’s commitment to invest in a Head of Charity and Fundraising Officer have been allocated to a designated fund to ensure these costs are met for the 2-year fixed term periods on which the positions have been awarded.

The Corporate Trustee considers that donations should be applied within a reasonable period of receipt, as long as there are no approved long-term plans that require accumulation of balances, and that expenditure represents appropriate use of funds.

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4. OUR GOVERNANCE

4.1 Structure, Governance and Management of the Charity

Corporate Trustee

The charity has a sole Corporate Trustee which is the Welsh Ambulance Services University NHS Trust. Responsibility for the management and use of funds held on trust lies with the Trust as the sole Corporate Trustee.

The Chair and Non-Executive Directors of the Trust Board are appointed by the Cabinet Secretary for Health and Social Care in Wales, with the Executive Directors being appointed in accordance with the Trust’s Standing Orders.

New members of the Trust Board are provided with appropriate induction and training. Orientation documentation provided for new members includes the previous year's annual reports and financial statements, and relevant charity information. Membership of the Trust Board from 1 April 2024 to 31 March 2025 is set out in Annex 1.

The charity does not make any payment for remuneration, nor does it reimburse expenses to the above individuals for activities undertaken in their capacity as Corporate Trustee.

Trustees are required to disclose all relevant interests, register them with the Trust and withdraw from decisions where a conflict arises. Any related party transactions are referred to in the accounts.

Linked Charity

The Charity’s registration includes a linked charity, Welsh Ambulance Services NHS Trust General Fund, with registration number 1050084-1.

Serious Incident Reporting

The Charity Commission requires all charities to report any serious incidents, including any adverse events that may cause significant harm to a charity’s beneficiaries, operations, reputation or finances. There were no such reportable incidents during 2024-25.

Charity Committee

The Charity Committee met four times in 2024-25 and reported to the Corporate Trustee on each occasion. The Corporate Trustee delegates to the Charity Committee to:

Strategic Development and Delivery

• Oversee and contribute to the development of the Charity’s long-term strategy

• Receive assurance on the implementation of the strategy.

Fundraising

• Approve and regularly review the fundraising plan for the charity, ensuring its compliance with Charity Commission legislation and guidance, and all other relevant regulatory requirements.

• Receive assurance on the implementation of the fundraising plan.

• Ensure systems, processes and communication are in place around fundraising, staff engagement and funding commitments.

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Charitable Funds

• Ensure the management of charitable funds is carried out within the terms of its Declaration of Trust and relevant legislation, including any Charity Commission regulations.

• Be aware of and have regard to the guidance on public benefit.

• Endorse income targets and expenditure budgets for approval by the Corporate Trustee.

• Ensure systems and processes are in place to receive, account for, deploy and invest charitable funds, and review periodic income and expenditure statements.

• Receive assurance from any panels or sub-committees established by the Committee on the use of charitable funds in accordance with their terms of reference to ensure that any such use is in accordance with the aims and purposes of the charitable fund or donation.

• Consider and authorise expenditure with a value above £5,000, subject to a recommendation from the Executive Leadership Team.

• Receive and endorse the annual report, annual return and financial accounts, and consider the annual report from the auditors before submission to the Corporate Trustee for approval.

Investment

• Consider and agree an investment strategy for the safe and secure investment of funds not immediately required for use, taking into account any appropriate ethical considerations.

• Consider the appointment of external investment advisors and operational fund managers.

• Review the performance of investments on a regular basis (with the external investments advisors where appointed) to ensure the optimum return from surplus funds.

Policy and Risk

• Approve appropriate policies and monitor principal risks to the charity.

Membership of Charity Committee

Membership of the Charity Committee from 1 April 2024 - 31 March 2025 was:

Committee Members

• (from 01 April 2024 31 December 2024) Ceri Jackson Committee Member (Chair from 05 May 2022-31 December 2024) Bethan Evans Committee Member Hannah Rowan Committee Member

Committee Members

• (from 01 January 2025 31 March 2025) Peter Curran Committee Member (Chair from 01 January 2025) Ceri Jackson Committee Member Hannah Rowan Committee Member

Prescribed Attendees for the Committee

Chris Turley Executive Director of Finance and Corporate Resources (Treasurer) Lee Brooks Executive Director of Operations Andy Swinburn Executive Director of Paramedicine Estelle Hitchon Director of Partnerships & Engagement Trish Mills Director of Corporate Governance / Board Secretary Liz Rogers Deputy Director of People and Culture

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Julie Boalch Chair of Bids Panel Jo Kelso Chair of Bursary Panel David Hopkins Head of Charity (from 7 October 2024) Damon Turner Trade Union Partner Hugh Parry Trade Union Partner Marcus Viggers Trade Union Partner

The Corporate Trustee keeps under review the membership of the Charity Committee as part of its annual effectiveness review.

The Trust does not currently operate a system whereby fund managers are delegated responsibility for administration of certain funds. Instead, the Charity Committee established the Bids Panel and the Bursary Panel for the granting of applications for use of charitable funds. The Panels report respectively into the committee at each meeting. Guidance is in place to aid the Panels in the application of funds.

The object of the charity is such that all expenditure is for the benefit of the National Health Service and as such is for public benefit. The Corporate Trustee, Charity Committee and Panels are aware of their duties in relation to public benefit.

Registered address

The registered address of the Charity is Ty Elwy, Ffordd Richard Davies, St Asaph Business Park, St Asaph, Denbighshire, LL17 0LJ

4.2 Our advisors

Bankers

The charity has retained the banking services during the year of Barclays Bank plc, Corporate Banking Centre, 70 Kingsway, Swansea SA1 5JB

External Auditors

The charity auditors during the year were Audit Wales, 1 Capital Quarter, Tyndall Street, Cardiff, CF10 4BZ.

Investment Manager

CCLA Good Investment, One Angel Lane, London, EC4R 3AB

4.3 Risk Management

The Charity is committed to actively and effectively managing risk as a key element in the successful delivery of its business and strategic objectives. Managing risk is a key, collective responsibility of the Charity Committee and is an integral part of the governance arrangements and activities to support decision making, and to strengthen and positively impact the development of its future ambitions.

Work has been undertaken throughout 2024-25 to progress the development and management of a suite of risks that the Charity faces. A Charity Risk Register has been established and is presented to the Charity Committee at each meeting. An increased focus on identifying and articulating risks will continue as the strategic direction evolves.

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Risk Profile

The risk profile of the Charity is subject to senior management and committee scrutiny. As at the end of the financial year, there was one open risk relating to the application of grants and one closed risk relating to Charity accounts. Work was ongoing to develop risks relating to themes including compliance with legal and regulatory frameworks, governance and management of funds and fundraising targets. This profile is in addition to two key risks relating to financial controls and investments, the detail of which is set out below.

Financial controls risk

The financial controls which operate in relation to the charitable funds are the same as those which apply to the Trust and are determined in the Standing Orders and Standing Financial Instructions. The purpose of these controls is to ensure that the charitable fund is not exposed to any major financial risks. The controls in place are subject to continuous review by the Finance Directorate and subject to annual external audit review.

Financial reports detailing income and expenditure together with analysis of significant financial changes are reported to each Charity Committee meeting. The Corporate Trustee approves the annual accounts and annual report of the Charity every year prior to submission to the Charity Commission.

Audit Wales undertakes the annual, external audit of charity accounts. Given the size of the Charity this is typically carried out as an independent examination, with a full audit performed periodically. A full audit was completed in 2021-22 after which the process reverted to independent examinations in the following financial years.

Investment risk

The risk relates to the uncertainty in the investment markets and volatility in yield. This is mitigated by investing in a portfolio of investments through the professional advice of investment managers. Our investment managers are CCLA and an update on the investment is included in the finance reports considered at each Charity Committee meeting with monthly monitoring of the investment by the Finance Team.

The Charity’s investment policy is to hold a minimum of 20% in interest earning bank accounts and a maximum of 50% in fixed income or equity funds. This is to obtain the maximum return on investment with the minimum of risk to the funds.

The Charity does not currently have a policy of making grants to bodies other than to the Trust and none were made during the 2024-25 financial year. A report to the Charity Committee in 2023 provided assurance to the Corporate Trustee on the ethical investment.

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4.4 Annex 1 – Membership of the WAST Trust Board as Corporate Trustee

Voting members (between 1 April 2024 - 31 March 2025) included :

• Colin Dennis, Chair of the Trust Board

• Rhiannon Beaumont-Wood, Non-Executive Director from 11 November 2024

• Jayne Beeslee, Non-Executive Director from 19 August 2024

• Peter Curran, Non-Executive Director

• Bethan Evans, Non-Executive Director

• Professor Hayley Hutchings, Non-Executive Director from 11 November 2024

• Ceri Jackson, Interim Vice-Chair until 30 June 2024, and Vice-Chair from 01 July 2024

• Hannah Rowan, Non-Executive Director

• Jason Killens, Chief Executive Officer of the Trust

• Lee Brooks, Executive Director of Operations

• Rachel Marsh, Executive Director of Strategy, Planning & Performance

• Chris Turley, Executive Director of Finance & Corporate Resources

• Andy Swinburn, Executive Director of Paramedicine

• Liam Williams, Executive Director of Quality & Nursing

• Joga Singh, Non-Executive Director until 31 August 2024

• Professor Kevin Davies, Non-Executive Director until 30 September 2024

Non-voting members (between 1 April 2024 - 31 March 2025) included :

• Estelle Hitchon, Director of Partnerships and Engagement

• Carl Kneeshaw, Director of People from 01 November 2024

• Angela Lewis, Director of People and Culture until 31 October 2024, Director of Culture Change from 01 November 2024

• Jonny Sammut, Director of Digital Services

• Trish Mills, Director of Corporate Governance / Board Secretary

• Hugh Parry, Trade Union Representative

• Damon Turner, Trade Union Representative

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1. ANNUAL ACCOUNTS 17

WELSH AMBULANCE SERVICES NHS TRUST CHARITY Funds Held on Trust Accounts 2024-25

WELSH AMBULANCE SERVICES NHS TRUST CHARITY

The accounts for Funds Held on Trust.

FOREWORD

The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.

STATUTORY BACKGROUND

The NHS Trust is the corporate trustee of the funds held on trust under paragraph 16c of Schedule 2 of the NHS and Community Care Act 1990.

The Trustee has been appointed under s11 of the NHS and Community Care Act 1990.

The Welsh Ambulance Services NHS Trust charitable funds held on trust are registered with the Charity Commission and include funds in respect of Ambulance services throughout Wales.

MAIN PURPOSE OF THE FUNDS HELD ON TRUST

The main purpose of the charitable funds held on trust is to apply income for any charitable purposes relating to the National Health Service wholly or mainly for the services provided by the Welsh Ambulance Services NHS Trust. On the 1st April 2024 the Trust's name was changed to Welsh Ambulance Services University NHS Trust.

WELSH AMBULANCE SERVICES NHS TRUST CHARITY Funds Held on Trust Accounts 2024-25

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

Note Incoming resources Incoming resources from generated funds Donations and legacies 2 Charitable activities 3 Investment income 4 Total incoming resources Expenditure on Raising Funds 5 Charitable activities 6 Total resources expended Gains/(Losses) on investment assets Net incoming /(outgoing) resources before transfers	Unrestricted funds £ 44,231 0 22,607	Restricted funds £ 0 0 0	Endowment funds £ 0 0 0	Total 2024-25 £ 44,231 0 22,607	Total 2023-24 £ 184,321 427,080 10,799
	66,838	0	0	66,838	622,200
	3,129 65,771	15,209 162,408	0	18,338 228,179	105,039
	68,900	177,617	0	246,517	105,039
	(5,567)	0	0	(5,567)	30,715
	(7,629)	(177,617)	0	(185,246)	547,876
Transfers between funds	0	0	0	0	0
Net movement in funds Fund balances brought forward as at 1 April 2024
	(7,629)	(177,617)	0	(185,246)	547,876
	394,305	552,581	0	946,886	399,010
Fund balances carried forward as at 31 March 2025	386,676	374,964	0	761,640	946,886

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WELSH AMBULANCE SERVICES NHS TRUST CHARITY Funds Held on Trust Accounts 2024-25

BALANCE SHEET AS AT 31 MARCH 2025

		Unrestricted	Restricted	Endowment	Total	Total
		funds	funds	funds	2024-25	2023-24
						*restated
		£	£	£	£	£
	Note
Fixed assets
Investments	11/12	274,672	0	0	274,672	280,239
Total fixed assets		274,672	0	0	274,672	280,239
Current assets
Debtors	13	3,032	86,514	0	89,546	278,199
Investments	14	121,604	321,053	0	442,657	376,492
Cash at bank and in hand		16,839	0	0	16,839	71,554
Total current assets		141,475	407,567	0	549,042	726,245
Liabilities
Creditors: Amounts falling
due within one year	15	29,471	32,603	0	62,074	59,598
Net current assets		112,004	374,964	0	486,968	666,647
Total assets less current liabilities		386,676	374,964	0	761,640	946,886
Funds of the charity:
Unrestricted income funds		386,676	0	0	386,676	394,305
Restricted income funds		0	374,964	0	374,964	552,581
Total funds	16	386,676	374,964	0	761,640	946,886

Chris Turley .................................... Executive Director of Finance & Corporate Resources

Colin Dennis…...................................... Chair of Corporate Trustee

29th January 2026

29th January 2026

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WELSH AMBULANCE SERVICES NHS TRUST CHARITY Funds Held on Trust Accounts 2024-25

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

Note Cash flows from operating activities: Net cash provided by (used in) operating activities 17 Cash flows from investing activities: Purchase of Investments 11 Sale of Investments Net cash provided by (used in) investing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the begining of the 18 reporting period Cash and cash equivalents at the end of the 18 reporting period	Total Funds 2024-25 £ 11,450 0 0 0 11,450 448,046 459,496	Total Funds 2023-24 £ 183,397
		0 0
		0
		183,397 264,649
		448,046

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WELSH AMBULANCE SERVICES NHS TRUST CHARITY Funds Held on Trust Accounts 2024-25

NOTES TO THE ACCOUNTS

Accounting policies

1.1 Accounting convention Basis of preparation

The financial statements have been prepared under the historic cost convention, with the exception of investments which are included at fair value.

The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The Trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern. There are no material uncertainties affecting the current year’s accounts.

In future years, the key risks to the Charity are a fall in income from donations or investment income but the trustees have arrangements in place to mitigate those risks (see the reserves sections of the annual report for more information).

1.2 Funds structure

Where there is a legal restriction on the purpose to which a fund may be put, the fund is classified either as:

• ●A restricted fund or

• ●An endowment fund.

Restricted funds are those where the donor has provided for the donation to be spent in furtherance of a specified charitable purpose. The Charity’s restricted funds usually result from legacies for specified purposes.

Endowment funds arise when the donor has expressly provided that the gift is to be invested and only the income of the fund may be spent. These funds are sub analysed between those where the Trustees have the discretion to spend the capital (expendable endowment) and those where there is no discretion to expend the capital (permanent endowment).

The charity has no permanent endowment funds, and has nine restricted funds. Of the nine, six have arisen from legacies; one during 2011/12 (identified in 24/25), one during 2015/16, one during 2017/18, one during 2020/21, and two created in 2023/24. The other three are grants from NHS Charities Together.

Those funds which are neither endowment nor restricted income funds, are unrestricted income funds which are sub analysed between designated (ear-marked) funds where the Trustees have set aside amounts to be used for specific purposes or which reflect the non-binding wishes of donors and unrestricted funds which are at the Trustees’ discretion, including the general fund which represents the charity’s reserves. The major funds held in each of these categories are disclosed in note 16.

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WELSH AMBULANCE SERVICES NHS TRUST CHARITY Funds Held on Trust Accounts 2024-25

Accounting policies (continued)

1.3 Incoming resources a) All incoming resources are recognised once the charity has entitlement to the resources, it is probable (more likely than not) that the resources will be received and the monetary value of incoming resources can be measured with sufficient reliability.

Where there are terms or conditions attached to incoming resources, particularly grants, then these terms or conditions must be met before the income is recognised as the entitlement condition will not be satisfied until that point. Where terms or conditions have not been met or uncertainty exists as to whether they can be met then the relevant income is not recognised in the year but deferred and shown on the balance sheet as deferred income.

b) Legacies

Legacies are accounted for as incoming resources either upon receipt or where the receipt of the legacy is probable.

Receipt is probable when:

● Confirmation has been received from the representatives of the estate(s) that probate has been granted

● The executors have established that there are sufficient assets in the estate to pay the legacy and ● All conditions attached to the legacy have been fulfilled or are within the charity’s control.

If there is uncertainty as to the amount of the legacy and it cannot be reliably estimated then the legacy is shown as a contingent asset until all of the conditions for income recognition are met.

c) Intangible income

Intangible income (e.g. the provision of free accommodation) is included in the accounts with an equivalent amount in outgoing resources, if there is a financial cost borne by another party. The value placed on such income is the financial cost of the third party providing the resources.

1.4 Resources expended

Expenditure is recognised when and to the extent that a liability is incurred. In accounts prepared on the accruals basis, liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure as described in Financial Reporting Standard 5 and 12. A liability will arise when a charity is under an obligation to make a transfer of value to a third party as a result of past transactions or events

b) Support Costs

In undertaking any activity there may be support costs incurred that, whilst necessary to deliver an activity, do not themselves produce or constitute the output of the charitable activity. Similarly, costs will be incurred in supporting income generation activities such as fundraising, and supporting governance of the charity.

Support costs do not, in themselves, constitute an activity, instead they enable output-creating activities to be undertaken.

c) Governance costs

Governance costs comprise all costs incurred in the governance of the charity. These costs include costs related to statutory account preparation and audit together with strategic management costs. Governance costs are apportioned as described in note 7 to the accounts.

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WELSH AMBULANCE SERVICES NHS TRUST CHARITY Funds Held on Trust Accounts 2024-25

Accounting policies (continued)

1.5 Investment fixed assets

Investment fixed assets are shown at market value. The following points should be taken into account when the valuations are being undertaken:-

• (i) Quoted stocks and shares are included in the balance sheet at bid-market price, ex-div;

• (ii) Other investment fixed assets are included at the trustee's best estimate market value.

• (iii) The date and amounts of the valuations;

• (iv) Where historical cost records are available, the carrying amount that would have been included in the financial statements had the investment assets been carried at historical cost less depreciation;

• (v) Whether the person(s) carrying out the valuation is (are) internal or external to the entity;

• (vi) Where the trustee is not aware of any material change in value and therefore the valuation(s) have not been updated, a statement to that effect; and

• (vii) Where the valuation has not been updated, or is not a full valuation, the date of the last full valuation.

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WELSH AMBULANCE SERVICES NHS TRUST CHARITY Funds Held on Trust Accounts 2024-25

2. Donations and legacies

2. Donations and legacies	2. Donations and legacies
Unrestricted funds £ Donations 14,231 Legacies 30,000 44,231		Restricted Income funds £ 0 0	Endowment funds £ 0 0	Total 2024-25 £ 14,231 30,000	Total 2023-24 £ 19,435 164,886
	44,231	0	0	44,231	184,321

There was a material legacy of £30k received in 2024/25 (£149k 2023/24).

3. Income from charitable activities

3. Income from charitable activities	3. Income from charitable activities
Unrestricted funds £ Activity Grants & Contracts Patient Education and Welfare 0 Grants & Contracts Staff Education and Welfare 0 0		Restricted Income funds £ 0 0	Endowment funds £ 0 0	Total 2024-25 £ 0 0	Total 2023-24 £ 333,889 93,191
	0	0	0	0	427,080

All grants received in the above are from NHS Charities Together

4. Investment income

Unrestricted funds £ Investments in a common deposit/investment fund 22,607 22,607	Unrestricted funds £ Investments in a common deposit/investment fund 22,607 22,607	Restricted Income funds £ 0	Endowment funds £ 0	Total 2024-25 £ 22,607	Total 2023-24 £ 10,799
	22,607	0	0	22,607	10,799

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WELSH AMBULANCE SERVICES NHS TRUST CHARITY Funds Held on Trust Accounts 2024-25

5. Details of resources expended - Raising Funds

Fundraising Office Fundraising Events Support Costs Total	Unrestricted funds £ 0 0 3,129 3,129	Restricted funds £ 0 15,209 0 15,209	Total 2024-25 £ 0 15,209 3,129 18,338	Total 2023-24 £ 0 0 0
				0

6. Details of resources expended - Charitable Activities

Patient Education and Welfare Staff Education and Welfare Total	Activities undertaken directly £ 141,240 48,000 189,240	Support costs £ 29,062 9,877 38,939	Total 2024-25 £ 170,302 57,877 228,179	Total 2023-24 £ 35,230 69,809
				105,039

7. Allocation of support costs

Support and overhead costs are allocated over charitable activities. Governance costs are those support costs which relate to the strategic and day to day management of the charity.

External audit Internal audit Producing statutory accounts Strategic management cost Total Governance Finance & Administration Other costs	Raising funds £ 149 126 149 320 744 2,385 0 3,129	Charitable activities £ 1,851 1,567 1,851 3,987 9,256 29,683 0 38,939	Total 2024-25 £ 2,000 1,693 2,000 4,307 10,000 32,068 0 42,068	Total 2023-24 £ 2,000 1,330 1,700 5,570
				10,600 0 0
				10,600

Of the above a recharge of £10,000 (2023/24 £10,000) was made during the year from the Welsh Ambulance Services University NHS Trust to the Charity.

Support costs are significantly higher this year compared to 2023-24 due to the charity employing a new head of charity in October 2024.

Raising Funds Charitable activities	Unrestricted funds £ 3,129 30,889 34,018	Restricted funds £ 0 8,050 8,050	Total 2024-25 £ 3,129 38,939 42,068	Total 2023-24 £ 0 Expenditure 10,600 Expenditure 10,600 Basis of apportionment

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WELSH AMBULANCE SERVICES NHS TRUST CHARITY Funds Held on Trust Accounts 2024-25

8. Auditor's remuneration

The auditor's remuneration for 2024-25 is £2,000 (2023-24 £2,000).

9. Staff Costs

Wages and salaries Social security costs Pension costs	Total 2024-25 £ 130,294 12,860 18,434	Total 2023-24 £ 21,219 1,882 3,051
	161,588	26,152

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

Support Staff Governance	2024-25 5 0	2023-24 5 0
	5	5

Employees who undertake work for charitable activities are directly employed by The Welsh Ambulance Services NHS Trust. Their costs are then recharged to the charity.

10. Transfer between funds

There has been one transfer of £8,422 from unrestricted to restricted. This is from a legacy received in 2011/12, which has been newly identified as restricted. This has been presented as a prior period adjustment in the accounts.

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WELSH AMBULANCE SERVICES NHS TRUST CHARITY Funds Held on Trust Accounts 2024-25

11. Analysis of fixed asset investments

Market value at 1 April 2024 Less: Disposal at carrying value Add: Acquisitions at cost Net gain / (loss) on revaluation Market value at 31 March 2025	Total Total 2024-25 2023-24 £ £ 280,239 249,524 0 0 0 0 (5,567) 30,715 274,672 280,239

12. Analysis of market value

Investments in a common deposit/investment fund Total market value of fixed asset investments	Total Total 2024-25 2023-24 £ £ 274,672 280,239 274,672 280,239

The investment fund above is invested in the COIF Charities Investment Fund and the investment valuation has been performed by CCLA Good Investment.

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WELSH AMBULANCE SERVICES NHS TRUST CHARITY Funds Held on Trust Accounts 2024-25

13. Analysis of debtors

Amounts falling due within one year: Trade debtors Prepayments Accrued income Other debtors Sub-total Amounts due over one year: Trade debtors Prepayments Accrued income Other debtors Sub-total Total debtors	Total 2024-25 £ 0 2,580 86,966 0 89,546 0 0 0 0 0 89,546	Total 2023-24 £ 0 750 190,935 0
		191,685
		0 0 86,514 0
		86,514
		278,199

14. Current asset investments

The current asset investments of £442,657 (2023-24 - £376,492) are sums held on deposit to facilitate cash flow.

No current asset investments were held in non cash investments or outside the UK during the year.

15. Analysis of creditors

Amounts falling due within one year: Trade creditors Other creditors Sub-total Amounts due over one year: Loans and overdrafts Trade creditors Other creditors Accruals Deferred income Sub-total Total creditors	Total 2024-25 £ 25,521 36,553 62,074 0 0 0 0 0 0 62,074	Total 2023-24 £ 750 58,848
		59,598
		0 0 0 0 0
		0
		59,598

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WELSH AMBULANCE SERVICES NHS TRUST CHARITY Funds Held on Trust Accounts 2024-25

16. Analysis of funds - unrestricted, unrestricted designated and restricted funds

Unrestricted Funds General Funds Designated Funds & Reserves Restricted Funds NHSCT Development NHSCT Stage 3 Grant NHSCT Ambulance Grant Heart Attack Victims Holyhead Patient Benefit Colwyn Bay Station EMS Ambulance	Balance at 1 April 2024 restated* £** 128,074 266,231	New designation /receipts £ 42,162 24,676	Utilised/ released £ (38,046) (30,854)	Gross transfer between funds £ 0 0	Gains and losses £ 0 (5,567)	Balance at 31 March 2025 £ 132,190 254,486 386,676 0 27,143 118,507 13,336 5,000 148,886 137
	394,305	66,838	(68,900)	0	(5,567)
	23,259 43,682 256,326 13,336 5,000 148,886 137	0 0 0 0 0 0 0	(23,259) (16,539) (137,819) 0 0 0 0	0 0 0 0 0 0 0	0 0 0 0 0 0 0
Ambulance Equipment Fund	53,533	0	0	0	0	53,533
Blaenau Ffestiniog Fund	8,422	0	0	0	0	8,422 374,964
	552,581	0	(177,617)	0	0
Total Funds	946,886	66,838	(246,517)	0	(5,567)	761,640

17. Reconciliation of net income / expenditure to net cash flow from

operating activities

	Total 2024-25 £	Total 2023-24 £
Net income / (expenditure) (per Statement of Financial Activities)	(185,246)	547,876
Adjustment for: (Gains) / losses on investments (Increase) / decrease in debtors Increase / (decrease) in creditors	5,567 188,653 2,476	(30,715) (275,457) (58,307)
Net cash provided by (used in) operating activities	11,450	183,397
18. Analysis of cash and cash equivalents Cash at bank and in hand Notice deposits (less than 3 months)	Total 2024-25 £ 16,839 442,657	Total 2023-24 £ 71,554 376,492
	459,496	448,046

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WELSH AMBULANCE SERVICES NHS TRUST CHARITY Funds Held on Trust Accounts 2024-25

19. Pooling scheme

An official pooling scheme is operated for investments relating to the following schemes:

COIF Charities Deposit Fund

The scheme was registered with the Charity Commission on 28th March 2000.

20. Related party transactions

During the year neither the trustee or members of the key management staff or parties related to them has undertaken any material transactions with the Welsh Ambulance Services University NHS Trust Funds Held on Trust.

Board Members (and other senior staff) take decisions both on Charity and Exchequer matters but endeavour to keep the interests of each discrete and do not seek to benefit personally from such decisions. Declarations of personal interest have been made in both capacities and are available to be inspected by the public.

A recharge of governance costs of £10,000 (2023/24 £10,000) was made during the year from the Welsh Ambulance Services University NHS Trust to the charity.

The Summary Financial statements of the Welsh Ambulance Services University NHS Trust are included in the annual report and accounts.

21. Post balance sheet events

The accounting statements are required to reflect conditions applying at the end of the financial year. No adjustments have therefore been made in respect of changes to the market value of investments following the end of the accounting period.

The Charity receives a quarterly portfolio report from its investment managers and the investments held by the Charity have increased by £2,863 to the end of September 2025, as detailed below:

Investments	31 March 2025 £ 274,672	Purchase / (Sale) of Units £ 0	30 September 2025 £ 277,535	Movement 0 2,863	Movement % 1.04%

In addition to receiving the half-yearly portfolio report, the Charity also reviews the market value of the investments on a weekly basis to ensure the impact of any market movements are kept to a minimum.

22. Trustees' remuneration, benefits and expenses

The charity does not make any payments for remuneration nor to reimburse expenses to the charity trustees for their work undertaken as trustee.

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WELSH AMBULANCE SERVICES NHS TRUST CHARITY Funds Held on Trust Accounts 2024-25

STATEMENT OF TRUSTEE'S RESPONSIBILITIES

The trustee is responsible for preparing the Trustee's Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the trustee to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustee is required to:

• •select suitable accounting policies and then apply them consistently;

• •observe the methods and principles in the Charities SORP;

• •make judgments and estimates that are reasonable and prudent;

• •state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements ;

• •prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustee is responsible for keeping proper accounting records that 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 Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008. 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.

The trustee is responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

By order of the trustee

Signed:

Colin Dennis ................................................. Chair of Corporate Trustee 29th January 2026 f “| whe W Chris Turley ................................................... Executive Director of Finance and Corporate Resources 29th January 2026

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WELSH AMBULANCE SERVICES NHS TRUST CHARITY Funds Held on Trust Accounts 2024-25

Report of the independent examiner to the trustee of the Welsh Ambulance Services NHS Trust Charity

I report on the accounts of Welsh Ambulance Services NHS Trust Charity for the year ended 31 March 2025 which are set out on pages 1 to 14.

Responsibilities and basis of report

As the charity's trustee, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the Act). You are satisfied that the accounts are not required to be audited by charity law and have chosen instead to have an independent examination.

I report in respect of my examination of your charity’s accounts as carried out under section 150(3) of the Act. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the Act.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently, I express no opinion as to whether the accounts present a ‘true and fair’ view and my report is limited to those specific matters set out in the independent examiner’s statement.

Independent examiner’s statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

• accounting records were not kept as required by section 130 of the Act; or

• the accounts do not accord with those records; or

• the accounts do not comply with the applicable requirements concerning the form and content set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination; or

• the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Adrian Crompton 1 Capital Quarter Auditor General for Wales Tyndall Street 30 January 2026 Cardiff

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