| Page | |||
|---|---|---|---|
| Chairman's | statement | ||
| Trustees report | 2 - 21 | ||
| Statement | oftrustees | responsibilities | 22 |
| Independent | auditor's | report | 23-25 |
| Statement | offinancial | activities | 26 |
| Balance sheet | 27-28 | ||
| Statement | ofcash flows | 29 | |
| Notes to the financial | statements | 30-47 |
| Reference | and administrative | and administrative | details | ||||
|---|---|---|---|---|---|---|---|
| Charity name | Early Years Wales | 2018T/A Early Years Wales | |||||
| Charity number | 1056381 | ||||||
| Company | number | 3164233 | |||||
| Principal and registered | office | Unit 1 |
|||||
| Coopers Yard | |||||||
| Curran Road | |||||||
| Cardiff | |||||||
| CF105NB | |||||||
| Trustees | Carolyn Asante- appointed | 3/2/23 | |||||
| Dr David Dallimore | |||||||
| Kathiyn Leighfield |
- appointed | 2/2/23 | |||||
| Tom Maclean - appointed | 2/2/23 | ||||||
| Lisa Owen | |||||||
| Jamie Powell | |||||||
| Dr Mirain Rhys - resigned | 27/6/22 | ||||||
| Mike Thorne (Chair) | |||||||
| Victoffia Wright | |||||||
| Secretary | David Goodger | ||||||
| Auditors | Azets Audit Services | ||||||
| Ty Derw | |||||||
| Lime Tree Court | |||||||
| Cardiff Gate Business Park | |||||||
| Cardiff | |||||||
| CF23 8AB | |||||||
| Bankers | Barclays Bank | ||||||
| 51 Hope Street, | |||||||
| Wrexham | |||||||
| LL11 1BE | |||||||
| Investment | providers | COLA | |||||
| Senator House | |||||||
| 85 Queen Victoria | Street | ||||||
| London | |||||||
| EC4V4ET |
| Unrestdicted | Restricted | Total | Unrestricted | Restricted | Total | ||||
|---|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | ||||||
| 2023 | 2023 | 2023 | 2022 | 2022 | 2022 | ||||
| Notes | 6 | 6 | F | 6 | 6 | ||||
| Income and | n | ow | |||||||
| Donations snd |
|||||||||
| legacies | 419 | 419 | 300 | 9,964 | 10,264 | ||||
| Charitable activities |
29,956 | 1,181,143 | 1,211,099 | 8,431 | 1,116,671 | 1,125,102 | |||
| Investments | 32,351 | 32,351 | 15,932 | 15,932 | |||||
| Other income | 615 | 615 | 2,851 | 2,851 | |||||
| Total income | 63,341 | 1,181,143 | 1,244,484 | 27,514 | 1,126,635 | 1,154,149 | |||
| gKPCnnlt~iL. | |||||||||
| Charitable activities |
88,519 | 1,213,040 | 1,301,559 | 126,460 | 1,053,958 | 1,180,418 | |||
| Net gains/(losses) investments |
on 11 |
(53,656) | (53,656) | 1,594 | 1,594 | ||||
| Gross transfers | |||||||||
| between funds |
60,180 | (60,180) | |||||||
| Net movement | in | funds | (78,834) | (31,897) | (110,731) | (37,172) | 12,497 | (24,675) | |
| Fund balances | at 1 April | ||||||||
| 2022 | 1,384,103 | 57,284 | 1,441,387 | 1,421,275 | 44,787 | 1,466,062 | |||
| Fund balances | at | 31 | |||||||
| INarch 2023 | 1,305,269 | 25,387 | 1,330,656 | 1,384,103 | 57,284 | 1,441,387 |
| 2023 | 2022 | |||||
|---|---|---|---|---|---|---|
| Notes | 8 | |||||
| Fixed assets | ||||||
| Intangible assets |
17 | 23,100 | 31,350 | |||
| Tangible assets | 16 | 1,880 | 3,299 | |||
| Investments | 19 | 1,059,745 | 1,113,401 | |||
| 1,084,725 | 1,148,050 | |||||
| Current assets | ||||||
| Debtors | 21 | 238,686 | 48,304 | |||
| Cash at bank and in | hand | 118,545 | 295,566 | |||
| 357,231 | 343,870 | |||||
| Creditors: amounts | falling due within | |||||
| one year | (111,300) | (50,533) | ||||
| Net current assets | 245,931 | 293,337 | ||||
| Total assets less current liabilities | 1,330,656 | 1,441,387 | ||||
| Income funds | ||||||
| Restricted funds | 24 | 25,387 | 57,264 | |||
| Unrastdctedfttads | ||||||
| Designated funds |
25 | 60,555 | 238,040 | |||
| General unrestricted | funds | 1,244,714 | 1,146,063 | |||
| 1,305,269 | 1,384,103 | |||||
| 1,330,656 | 1,441,387 |
| 2023 | 2022 | |||||||
|---|---|---|---|---|---|---|---|---|
| Notes | 6 | 6 | ||||||
| Cash flows from operating | activities | |||||||
| Cash absorbed by operations |
29 | (209,372) | (64,676) | |||||
| Investing | activities | |||||||
| Purchase | ofintangible assets | (16,500) | ||||||
| Purchase | oftangible fixed assets | (2,820) | ||||||
| Purchase | ofinvestments | (1,164,464) | ||||||
| Proceeds | from disposal of | investments | 1,164,464 | |||||
| Investment | income received | 32,351 | 15,932 | |||||
| Net cash | generated from/(used |
in) | ||||||
| investing | activities | 32,351 | (3,388) | |||||
| Net cash | used in financing | activities | ||||||
| Net decrease in cash and |
cash | equivalents | (177,021) | (68,064) | ||||
| Cash and | cash equivalents | at beginning | ofyear | 295,566 | 363,630 | |||
| Cash and | cash equivalents | at end of | year | 118,545 | 295,566 |
| 2023 | 2022 | ||||||
|---|---|---|---|---|---|---|---|
| E | |||||||
| Membership | 150 | 40 | |||||
| Courses and training | 16,165 | ||||||
| Grants | 1,181,143 | 1,116,671 | |||||
| Quality assurance | 9,511 | 2,949 | |||||
| Sale ofpublications and promotional items |
4,130 | 5,442 | |||||
| 1,211,099 | 1,125,102 | ||||||
| Analysis by fund |
|||||||
| Unrestricted funds |
29,956 | 8,431 | |||||
| Restricted funds | 1,181,143 | 1,116,671 | |||||
| 1,211,099 | 1,125,102 | ||||||
| Grants were received from the following | sources: | ||||||
| 2023 | 2022 | ||||||
| 2 | 2 | ||||||
| Welsh Government -CWLWM |
673,898 | 572,708 | |||||
| Welsh Government - Cynllyn |
Plethu | 29,167 | |||||
| Welsh Government -DCELLS: Early |
Years | Co-Ordinator | 60,000 | 54,250 | |||
| Welsh Government- Welsh Language |
Department | 50,000 | 50,000 | ||||
| Carmarthenshire County Council - Children's |
Services | 12,500 | 13,187 | ||||
| Ceredigion County Council - Family Information |
Service | 5,000 | 4,472 | ||||
| Conwy County Borough Council - Education | Services | 5,000 | 20,300 | ||||
| Denbighshire County Council |
- Flying | Start | 8,093 | 8,093 | |||
| Flintshire County Council |
80,333 | 58,651 | |||||
| Isle ofAnglesey County Council |
8,750 | 8,750 | |||||
| Moondance Foundation |
35,000 | 10,000 | |||||
| Monmouthshire County Council |
6,000 | 6,000 | |||||
| Mudiad Ysgolion Meithrin | 1,500 | 3,975 | |||||
| Newport City Council -RSG |
95,000 | 208,000 | |||||
| PACEY Cymru | 520 | ||||||
| Swansea City Council - Early |
Intervention | Service | 14,990 | 12,527 | |||
| Welsh Active Early Years Project | 92,892 | 85,758 | |||||
| Wrexham County Council |
2,500 | ||||||
| 1,181,143 | 1,116,671 |
| Unrestricted | Unrestricted |
|---|---|
| funds | funds |
| 2023 | 2022 |
| 6 | |
| 32,351 | 15,932 |
| Unrestricted | Unrestricted |
|---|---|
| funds | funds |
| 2023 | 2022 |
| 6 | |
| 615 | 2,851 |
| 2023 | 2022 | ||
|---|---|---|---|
| 8 | 8 | ||
| Staffcosts | 764,037 | 679,727 | |
| Depreciation and impairment |
1,154 | 736 | |
| Grant funding returned |
2,787 | ||
| Bank and other charges | 64 | ||
| Computer, internet costs and telephone |
24,219 | 28,995 | |
| Insurance | 483 | 158 | |
| Other costs | 3,348 | 774 | |
| Other staff costs | 12,529 | 92,393 | |
| Events | 19,938 | 22,226 | |
| Printing, post and stationery |
32,226 | 34,997 | |
| Professional fees |
6,069 | 18,328 | |
| Publications, training |
and subscriptions | 81,576 | 36,315 |
| Quality assurance | 4,967 | 805 | |
| Premises costs | 95,270 | 70,217 | |
| Travel and subsistence | 20,192 | 10,943 | |
| 1,068,859 | 996,614 | ||
| Grant funding ofactivities (see note 9) |
130,646 | 100,167 | |
| Share ofsupport costs (see note 10) | 91,651 | 72,589 | |
| Share ofgovernance | costs (see note 10) | 10,403 | 11,048 |
| 1,301,559 | 1,180,418 | ||
| Analysis by fund |
|||
| Unrestricted funds |
88,519 | 126,460 | |
| Restricted funds | 1,213,040 | 1,053,958 | |
| 1,301,559 | 1,180,418 | ||
| Grants payable | |||
| 2023 | 2022 | ||
| 6 | 6 | ||
| South East Wales | 67,938 | 48,221 | |
| Moondance Foundation |
35,000 | 10,000 | |
| Early Years Wales small grants | 27,708 | 41,946 | |
| 130,646 | 100,167 |
| Supportcosts | |||||||
|---|---|---|---|---|---|---|---|
| Support | Governance | 2023 | Support | Governance | 2022 | ||
| costs | costs | costs | costs | ||||
| 8 | 6 | 8 | |||||
| Staffcosts | 19,663 | 19,663 | 20,620 | 20,620 | |||
| Depreciation | 8,516 | 8,516 | 6,096 | 6,096 | |||
| Bank and other charges | 1,593 | 1,593 | 1,038 | 1,038 | |||
| ITand telephone | 11,054 | 11,054 | 9,405 | 9,405 | |||
| Premises costs | 1,415 | 1,415 | 1,195 | 1,195 | |||
| Insurance | 10,359 | 10,359 | 11,572 | 11,572 | |||
| Professional fees | 11,108 | 11,108 | 3,049 | 3,049 | |||
| Publications, training |
and | ||||||
| subscriptions | 506 | 506 | 662 | 662 | |||
| Travel and subsistence | 296 | 296 | 49 | 49 | |||
| Other stalf costs | 1,912 | 1,912 | 2,752 | 2,752 | |||
| Printing, post and |
|||||||
| stationery | 25,229 | 25,229 | 16,151 | 16,151 | |||
| Audit fees | 9,420 | 9,420 | 9,330 | 9,330 | |||
| Trustee expenses and | |||||||
| meeting costs | 983 | 983 | 1,718 | 1,718 | |||
| 91,651 | 10,403 | 102,054 | 72,589 | 11,048 | 83,637 | ||
| Analysed between |
|||||||
| Charitable activities |
91,651 | 10,403 | 102,054 | 72,589 | 11,048 | 83,637 |
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2023 | 2022 | ||
| 8 | |||
| Revaluation | ofinvestments | (53,656) | 1,594 |
| Number ofe | mployee | s | |||
|---|---|---|---|---|---|
| The average | monthly | number ofemployees | during the year was: | ||
| 2023 | 2022 | ||||
| Number | Number | ||||
| Functional | 18 | 19 | |||
| Support | 10 | 10 | |||
| 28 | 29 | ||||
| Employment | costs | 2023 | 2022 | ||
| 6 | 6 | ||||
| Wages and salaries | 695,550 | 627,233 | |||
| Social security costs | 59,629 | 48,050 | |||
| Other pension costs | 28,521 | 25,064 | |||
| 783,700 | 700,347 |
| The company operates a defined contribution |
The company operates a defined contribution |
The company operates a defined contribution |
The company operates a defined contribution |
The company operates a defined contribution |
pension scheme. | pension scheme. | The assets ofthe scheme are held | The assets ofthe scheme are held | separately | |
|---|---|---|---|---|---|---|---|---|---|---|
| from those | of the company | in an independently | administered | fund. The pension |
cost charge | represents | ||||
| contributions | payable | by the company to the | fund | and amounted | to 528,521 (2022 - | 625,064).There were no | ||||
| amounts outstanding |
at the year end in the current | or previous year. | ||||||||
| 17 | Intangible fixed assets |
|||||||||
| Webeite | ||||||||||
| 8 | ||||||||||
| Cost | ||||||||||
| At 1 April 2022 and 31 | March | 2023 | 41,250 | |||||||
| Amortisation | and impairment | |||||||||
| At 1 April 2022 | 9,900 | |||||||||
| Amortisation | charged | for the year | 8,250 | |||||||
| At 31 March | 2023 | 18,150 | ||||||||
| Carrying amount |
||||||||||
| At 31 March | 2023 | 23,100 | ||||||||
| At 31 March | 2022 | 31,350 | ||||||||
| 18 | Tangible fixed assets | |||||||||
| Office | Computer | Total | ||||||||
| equipment | equipment | |||||||||
| 6 | 6 | |||||||||
| Cost | ||||||||||
| At 1 April 2022 | 83,410 | 18,954 | 102,364 | |||||||
| At 31 March | 2023 | 83,410 | 18,954 | 102,364 | ||||||
| Depreciation | and impairment | |||||||||
| At 1 April 2022 | 80,590 | 18,475 | 99,065 | |||||||
| Depreciation | charged | in the year | 940 | 479 | 1,419 | |||||
| At 31 March | 2023 | 81,530 | 18,954 | 100,484 | ||||||
| Carrying amount |
||||||||||
| At 31 March | 2023 | 1,880 | 1,880 | |||||||
| At 31 March | 2022 | 2,820 | 479 | 3,299 |
| Fixed as | set investments | |
|---|---|---|
| Listed | ||
| investments | ||
| E | ||
| Cost or | valuation | |
| At 1 April | 2022 | 1,113,401 |
| Valuation | changes | (53,656) |
| At 31 March 2023 | 1,059,745 | |
| Carrying | amount | |
| At 31 March 2023 | 1,059,745 | |
| At 31 March 2022 | 1,113,401 |
| 20 Financial |
in | stru | ments | |||||
|---|---|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||||
| E | E | |||||||
| Carrying | amount offinancial assets | |||||||
| Instruments | measured at fair value through |
profit or loss | 1,059,745 | 1,113,401 | ||||
| 21 | Debtors | |||||||
| 2023 | 2022 | |||||||
| Amounts falling |
due | within one year: | E | |||||
| Trade debtors | 9,638 | 25,109 | ||||||
| Prepayments | and | accrued income | 229,048 | 23,195 | ||||
| 238,686 | 48,304 | |||||||
| 22 | Creditors: amounts | falling due within one year | ||||||
| 2023 | 2022 | |||||||
| Notes | E | E | ||||||
| Other taxation | and social security | 16,787 | ||||||
| Deferred income | 23 | 23,329 | 21,974 | |||||
| Trade creditors | 55,063 | 17,579 | ||||||
| Other creditors | 5,830 | 1,445 | ||||||
| Accruals | 10,291 | 9,535 | ||||||
| 111,300 | 50,533 |
| 2023 | 2022 | |||||
|---|---|---|---|---|---|---|
| 6 | ||||||
| Arising from government | grants | 21,504 | 21,504 | |||
| Arising from membership | and training | income | 1,825 | 470 | ||
| 23,329 | 21,974 | |||||
| Deferred income | is included | in the financial statements as follows: | ||||
| 2023 | 2022 | |||||
| 6 | 6 | |||||
| Balance brought | forward | 21,974 | 26,654 | |||
| Income received | 39,174 | 21,974 | ||||
| Income released | (37,819) | (26,654) | ||||
| Balance carried | forward | 23,329 | 21,974 |
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| LLI | I- Z | IJ.0 |
| 2023 | 2022 | |||||||
|---|---|---|---|---|---|---|---|---|
| 6 | ||||||||
| Within one year | 41,345 | 36,835 | ||||||
| Between two and five years | 51,391 | 760 | ||||||
| 92,736 | 37,595 | |||||||
| 29 | Cash generated from operations |
2023 | 2022 | |||||
| 6 | 8 | |||||||
| Deficit for the year | (110,731) | (24,675) | ||||||
| Adjustments for: |
||||||||
| Investment income recognised |
in statement | offinancial | activities | (32,351) | (15,932) | |||
| Fair value gains and losses on | investments | 53,856 | (1,594) | |||||
| Amortisation and impairment |
ofintangible | assets | 8,250 | |||||
| Depreciation and impairment |
oftangible | fixed assets | 1,420 | 6,832 | ||||
| Movements in working capital: |
||||||||
| (Increase) in debtors |
(190,383) | (28,992) | ||||||
| Increase in creditors |
59,412 | 4,365 | ||||||
| Increase/(decrease) in deferred |
income | 1,355 | (4,880) | |||||
| Cash absorbed by operations |
(209,372) | (64,676) | ||||||
| 30 | Analysis ofchanges in net funds |
|||||||
| The charity had no debt during | the year. |