# **Annual Report 2023 - 2024** Annual Report 2023 - 2024 Early Years Wales ## Contents **4.** Chairperson’s Report **5.** Early Years Wales’ Strategic Pillars **6.** Sustainable, quality childcare businesses, charities, and parent-led groups **12.** A qualified, valued, and skilled workforce at all levels (including volunteers and volunteer managers) **24.** Support for parents of children in the early years; support for parent-led groups (e.g., Parent and Toddler groups) **26.** Promoting a positive start for all children through their early years (0-5) **32.** Advocacy for the providers and users of early childhood education and care **35.** Our future plans **39.** Annual Report and Financial Statements Annual Report 2023 - 2024 Early Years Wales ## Annual Report and Financial Statements **1.** Chairman’s statement **2.** Trustees report **9.** Statement of trustees responsibilities **10.** Independent auditors report **13.** Statement of financial activities **14.** Balance sheet **16.** Statement of cashflows **17.** Notes to the financial statements **Photo credits (opposite clockwise):** Sunshine Pre-school Creative Learning, Little Chickens Moondance Funding, Sunshines Pre-school Creative Learning, Santes Fair Creative Learning Early Years Wales Annual Report 2023 - 2024 bj IT t.ar Annual Report 2023 - 2024 Early Years Wales ## Chairperson’s Report **As I’m sure you will agree, we seem to be living in increasingly uncertain times but helping children achieve their potential is a fantastic investment in a collective and positive future. Providing effective support to children in their earliest years is critical to their development which is fundamentally why Early Years Wales exists - to support those who are supporting children to help them fulfil their potential. And as a membership organisation we’re getting stronger - with over 1,750 members across Wales – an increase of over 1,000 since 2020!** This report provides details about all of the things that Early Years Wales has been doing over the past year to help our members and the children and families that they in turn support. Whether it’s funding, professional training, child development, business advice, quality assurance or the work we do to advocate for the sector, everything we do is focused on the needs of our members. of specialist support to all of our members across Wales – not just those in areas where local councils fund us. We’re also really aware of the tough times that many families have been having over recent years and the difficult situation that tight budgets have created for many early childhood services. This is why we’re spending more of our time advocating for our members with Government and other public bodies to make sure that early years services are given the status and funding they deserve. In the coming year we want to carry on increasing our membership and become an even better organisation in the service of our members and of children and their families so that we can help deliver the high quality learning, play and care services that children in Wales deserve. **David Dallimore Chair of Trustees** And because we want to keep growing and become even more responsive, we’re focused on making Early Years Wales a better organisation. Over the past year we’ve recruited a number of new Trustees to strengthen our Board and I’m particularly pleased to have more diversity and more practitioners represented. We’ve also had to respond to changes in the way that local authorities are working. This means fewer locally-based Early Years Wales staff, but we’re increasing the range 4 Annual Report 2023 - 2024 Early Years Wales ## Early Years Wales’ Strategic Pillars **Our work is operationally delivered through five interdependent pillars of activity. Each pillar aspires to support, value, and enhance the early years sector in Wales and each pillar is of equal value.** With over 60-years of sector experience and extensive staff knowledge, Early Years Wales is a trusted organisation for working with the sector and for providing research based and evidence-led policy and practice support. Early Years Wales aims to provide confidence to our members and our funders by being an organisation that is long-established, robustly governed, and provides a high-quality, supportive environment for our staff. We are focused on delivering value for money. **Sustainable, quality A qualified, valued, Support for parents of Promoting a positive Advocacy for the childcare businesses, and skilled workforce children in the early start for all children providers and users charities, and parentat all levels (including years; support for through their early of early childhood led groups volunteers and parent-led groups years (0-5) education and care volunteer managers) (e.g., Parent and Toddler groups)** Annual Report 2023 - 2024 Early Years Wales ## Sustainable, quality childcare businesses, charities, and parent-led groups ## **What we did** **We distributed £36.76k grant funding to the childcare and early years sector.** This funding, supported by Moondance Foundation, allowed **83** settings to receive financial support to sustain, expand, or enhance their services. These sustainability grants have protected settings from closure and helped settings with essential funds needed to maintain or enhance their services during challenging financial periods. **We provided 12 monthly bulletins and worked with 1,720 unique childcare members across the full range of the childcare and early years sector.** Our officers have made **411** visits, **15,896** phone/email contacts, and attended **180** LA meetings in support of the partnership working we undertake. **We have supported 423 charity providers of childcare in Wales.** During 2023/24 we helped establish **13** new Charitable Incorporated Organisations (CIOs) and provided support to **194** _CIOs to help them meet their duties and compliances with the Charity Commission_ . In line with CIO constitutions, we have supported **52** Trustee Boards with training. Sadly, some charities closed their services in 2023/24 we helped **11** Trustee Boards to close their charities in line with the Charity Commission’s regulations and procedures. We have redistributed £2500 charity funds to similar charities following a charity dissolution process. 6[4] Annual Report 2023 - 2024 Early Years Wales **We have embarked on a project to review our QfA scheme and as of October 2023 our new ‘online’ QfA Assessment Tool became available to purchase for our members.** During 2023/24, we sold **45** Initial Assessment Tools, of which **7** providers successfully achieved their QfA status. The new QfA process is about more than the assessment; our QfA is a reflection and improvement process that includes a professional dialogue to help recognise the providers’ successes and prioritise areas of development. You can hear more about this quality scheme by clicking here, including the comments made by providers about how the scheme helps them in their work. **In support of the expansion of Flying Start in Wales, our team has helped 18 settings gain accreditation with their local authority to deliver Flying Start funded childcare for 2-year-olds.** The process of tendering can be daunting for all, but for small childcare providers, or those that have not been familiar with the processes to date, it can feel even more challenging. Early Years Wales has helped **18** providers with the information and support they needed to successfully become Flying Start providers of funded childcare. 7 Annual Report 2023 - 2024 Early Years Wales ## Moondance and Early Years Wales; working in partnership to support childcare providers in Wales In 2023/24 Moondance provided Early Years Wales with **£30000** of grant funding to support the childcare sector. This funding was ring-fenced in our budget and 100% of the funding went directly to members. Early Years Wales took the decision in 2021 to not charge any service charges or staff time to administering grants from our partnership with Moondance. » In 2023/24 the grant funding supported **31** providers of childcare across **12** local authority areas. ## **How the grants helped** The applications for grants covered a wide range of needs. This included the additional benefit of free membership to Early Years Wales, which enabled every recipient of a grant to receive the full range of member benefits available through our membership offer. As a result of the partnership with Moondance we registered **61** additional members with Early Years Wales. The applicants for support requested help with short-term sustainability issues caused by inflation, utility cost rises, or unexpected rent increases. As we know, the market volatility in 2023 and 2024 was unprecedented and many small organisations found this a challenge due to operating on very small margins. Other applicants benefited from set-up costs which helped them establish new or extended services for children in their area. Some examples include, new outdoor forest play area, sensory playroom, set-up community toddler groups, new wraparound, marketing and family events. 8 Annual Report 2023 - 2024 Early Years Wales In support of partnership working, some of the grant funding allowed childcare providers to purchase insurances, memberships or resources from partner organisations like NDNA Cymru and PACEY Cymru. We enabled this link because the provider was able to demonstrate how the grant would help them and there was no need for us as a facilitator of the grant funding to be protective or restrictive towards wider partnership working. 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10 Annual Report 2023 - 2024 Early Years Wales ## **Case study** ## Creative Childminders on Conwy beach; Environmental Artist workshop The May 2023 issue of _small_ **talk** magazine featured an article from a group of childminders in Conwy, who had been awarded funding through the small grant scheme to run an art session on the beach with local artist, Tim Pugh. Read the article in full here ## **What did the recipients say?** “This is fantastic news thank you very much!!! We all really appreciate the support from the panel and can assure you that the money goes to such a wonderful setting and superb staff.” **“This has more than helped (and sort of saved me). I get paid weekly with the Teaching Agency and would not have been able to make payments without your help. Huge thanks to you for everything. I honestly mean that from the bottom of my heart.”** **“That is great news thank you so much for supporting our playgroup. The award of £1,000 will make such a big difference to the playgroup.”** “Thank you so much, that’s going to be such a benefit to the children’s safety.” 11 Early Years Wales **----- Start of picture text -----**
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## A qualified, valued, and skilled workforce at all levels (including volunteers and volunteer managers) ## **What we did** **We provided 32 training opportunities, plus 7 Lunch and Learn sessions across 3 terms during 2023/24.** Our training planners outline the availability of training across the diversity of our member interests and are updated each quarter. The offers we provide include helping with leadership and management, practice and pedagogy, and updating policies and procedures. Through our **Foundation Learning** grant funding additional training was provided including ‘Getting to know your children’ observation training, an introduction to ‘Through the eyes of a child’ and ‘Nature Notes’ resources by led by an external consultant, Nia Beynon. Additionally, a recorded webinar on supporting the ‘Quiet, Shy and Anxious child’ was commissioned in partnership with Dr Susan Davis and Dr Rhiannon Packer from Cardiff Metropolitan University. The Foundation Learning Excellence Programme grant has allowed the developments of two excellent resources; ‘Nature Notes’ resource and ‘Through the eyes of a child’ supporting practitioners to introduce a combination of rhymes/ songs with children and a guide for practitioners’ professional development. Two case studies captured childcare providers’ approaches to their anti-racism journey. These will be published on ~~7~~ Hwb when approved by the Welsh Government alongside our previous case studies. We also hosted two in-person events focused on helping practitioners with the three-enablers in the Curriculum for the funded non-maintained nursery settings in Wales attended by over **80** practitioners across Wales. 12 Annual Report 2023 - 2024 Early Years Wales **During 2023/24 we recruited into our Welsh language team and successfully achieved the Welsh Language commissioner’s Cynnig Cymraeg recognition for our contributions to the Welsh language. We are one of 100 organisations in Wales with this accreditation.** **145** of our members have been supported to embark on **Camau** , proving opportunities for **327** practitioners to access Welsh language learning opportunities. This work allows the staff to learn the Welsh language from beginner to fluency delivered as an asynchronous learning journey. **42** of our members have embarked on the **Welsh Promise** . This scheme underpins the practitioners’ own language development with support to develop the language offer in the setting. 13 | **“The children have loved the sessions, after the first one, we noticed them singing more songs in Welsh and using phrases around the classroom and in their play, particularly role play. After the last session the children have been more engaged with the books and soft toys creating their own stories and using Welsh words that they are familiar with.” - St Paul’s Flying Start** ; iy pas. | ag ee a : ay The **Cydweith Cymraeg** has completed its pilot year, which saw **12** settings engage in the project across Wales. The piloting stage was a great success, with settings embracing the opportunities to embed the Welsh language through music and play. Read about the project in full here S **Photo credit:** Have fun with language! _small_ **talk** , (May 2024), pg 14 - 15 Early Years Wales **----- Start of picture text -----**
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We hosted a number of events highlighting Welsh language practice and development. **Cymraeg in the Curriculum** was delivered to **18** members and facilitated conversations regarding the implementation of the Welsh language in the Curriculum for Wales. We have also hosted four **‘Loving the Language’** sessions that look at spoken languages that are not English, and how all settings work with home-languages in promotion of bilingualism and celebrated the Welsh language and culture with **36** childcare providers during our **Gwyl Fach** event in St Fagans in South Wales, where we focused on the use of Welsh language, rhymes, stories, and culture to enhance practice. 15 Annual Report 2023 - 2024 **----- Start of picture text -----**
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“Since completing the course, we have seen significant improvement in many areas of our nursery. There is more encouragement between staff members to use Welsh more often and consistently in the setting. We have embedded more Welsh activities and stories into the nursery than before. Our aim is to continue this for the future, organising play, stories and activities based around the Welsh language, including trips to better understand Welsh culture and heritage.” - Aberporth Bilingual Playgroup on completing Camau. Click here to discover how the setting achieved a fully bilingual approach. **Photo credit:** a A Snapshot of Bilingual Excellence in the early years, | , _small_ —, **talk** , (May 2023, pg 08 - 10 Annual Report 2023 - 2024 Early Years Wales “What started with my journey on developing my professional career, has embarked on a journey for the whole team. The work we are doing is not in addition to what we need to do, it is now embedded into our everyday practice.” - St Padarn’s Playgroup on their commitment to the Welsh Promise. Click here to read more. **Photo credit:** A New Managers Perspective on Embracing Cultural Diversity, _small_ **talk** , (February 2024, pg 09 - 11 Annual Report 2023 - 2024 **----- Start of picture text -----**
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**To help our members with policy updates we have held webinars and meetings to outline new or planned changes to practice.** During 2023 we were joined by Welsh Government and our incoming Chair, David Dallimore to outline to members the importance of the recent Early Childhood Play, Learning and Care policies in Wales. We held member meetings to discuss changes to safeguarding requirements and have provided safeguarding training to **130** practitioners. Our staff also provided updated information to members on the National Minimum Standards (NMS) for childcare providers, the proposed Professional Register of the workforce, and how the settings can work with children to increase the opportunities for childcentred decision making during the day. **As part of our social-funded partnership, Cwlwm, we presented to the Senedd Scrutiny panel for Social Justice on the accessibility and availability of ALN support in childcare.** Our work to help members with ALN access, provision and support focuses on two distinct approaches. Through our communications and forums, we help members with the implementation of the policies and their practice along with bespoke requests responding to member enquiries. We also provided support through funded-service level agreements in four local authority areas. This work either directly provided the brokerage and application processes on behalf of the local authorities or worked directly with settings in support of practice enhancement where an identified need was made by the local authority. Through the brokerage/ application processes we managed and facilitated funding for **38** children were identified, assessed with partnership working with the local authority and other agencies, and placed in **34** settings around Wales with the associated staff support (1:1 or as required through the planned support). **Image:** What is the threshold for safeguarding? _small_ **talk** , (October 2023), pg 14 - 15 Click here to ~~o~~ read. a 18 Annual Report 2023 - 2024 Early Years Wales ## **The difference we made** The following case study highlights the impact of Play, Move, Thrive delivered in partnership with Sport RCT. Rebecca, from Cwmclydach Primary School’s individual feedback is captured within this powerful video. 19 Annual Report 2023 - 2024 Early Years Wales ## Download the case study to read in full here 20 Annual Report 2023 - 2024 **----- Start of picture text -----**
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## **Anti-racism coaching programme in partnership with the Black Nursery Manager, Apex Educate, and Representation Matters** In 2023 we worked with Liz Pemberton, Rachel Clarke and Aisha Thomas to facilitate the delivery of a highly successful coaching programme for early years practitioners. This course focused on childcare provider leaders and aimed to go beyond one-off training and take a longer and more sustained approach to racial literacy and early years practice. The outline of the course is shared below (note in present tense as advertised at the time). ## **What we promise in this course** This exciting coaching course runs across most of the academic year. Our course is aimed at Early Years practitioners and Primary school participants, who want to learn about anti-racist practice and how to plan and teach with an antiracist lens. It will involve exploring values and beliefs held, as well as opportunities to reflect on current practice. Gap tasks will be set between sessions to support the development of anti-racist knowledge and reflection. The course is led by three anti-racist consultants, who have worked across educational sectors and beyond. All are passionate people who believe in the necessity for a more anti-racist comprehensive program for educators. This course will: , Facilitate conversation and reflection Prompt thought Nudge beliefs and thinking Outline anti-racist actions that can be taken The course will run every month for 10 months. . 21 Early Years Wales **----- Start of picture text -----**
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## **What happened** We worked with **ten** providers of childcare across Wales. We selected the participants through an expression of interest application process. We asked each applicant to demonstrate that they would commit to the programme, work between the sessions on tasks, reading and deeper learning, and had the support from the staff/management structures in their setting. Over the course of the programme our participants substantially raised their understanding of anti-racist practice. The impact of this was reflected through their personal journeys. Our three consultants were outstanding, individually and collectively. Their coaching was personal, focused, sensitive and supporting when needed, and challenging and direct when required. All participants would agree that for everyone engaged in the process, including our three staff colleagues, honesty, deep reflection, and learning took place. Misconceptions and biases were challenged with research-backed information, integrity, and personal living experiences from the consultants. This openness helped build trust and greater understanding for the participants. As a direct result of the coaching one setting enrolled all their practitioners on entry level training and made anti-racist practice a feature of their staff development conversations in every meeting. A second multi-chain setting used their staff development meeting with over **100** childcare practitioners to share their learning and reflect on how they needed to make changes to their practice and their parental **seven** welcome policies across all settings. Every provider that embarked on the training took the time to engage in meaningful conversations with their wider staff team and purposeful reflections about their practice. A third setting discussed how the superficial representation they had included in their setting had been replaced by meaningful and child age-appropriate activities. One great example originated from the children’s interest in what the practitioners were drinking during their breaks from their safety cups. This resulted in a practitioner finding a book called ‘Teatime around the world’ and exploring the 22 Annual Report 2023 - 2024 Early Years Wales potential of tea [the drink]. The activities spiralling from this included sampling different teas, finding where tea is grown on maps and pictures, undertaking art activities with tea leaves and tea, and a family asking to visit to share their SriLankan heritage and tea making. The children made nettle tea and herbal tea from their garden and wildlife areas and understood more about the drink, the cultures, and choices people make. Liz Pemberton www.theblacknurserymanager.com Rachel Clarke www.apex-educate.co.uk Individually, course participants reported their own development. Practitioners were sharing how they had taken this work into their everyday life. One practitioner discussed how they witnessed something racially motivated in their supermarket and ‘could not walk past’, but felt they had to speak up and support the target of the racialised language. This participant also shared how they had started re-framing labelling language people in her village used when discussing fellow residents who were not racialised as white. A second practitioner discussed how normalised language in her community was being reflected by the children in her setting and that prior to the training it was addressed but only upon hearing the words spoken. As a result of the training, the staff planned to and addressed the issues directly, working with the community, the owners of a retail shop and the children. Staff redirected the racialised language by giving the retail owner a name, a value, and demonstrating the positive relationship the shop has with the people in the community. The business owner visited the setting, and the children visited the shop building positive relationships. These brief vignettes are a few of the many that could showcase how significant and powerful the coaching course was. Aisha Thomas www.repmatters.co.uk Of course, none of this was possible without the coaching provided by Liz Pemberton, Rachel Clarke and Aisha Thomas. They deserve all the credit and plaudits for this programme of learning and our delegates and Early Years Wales is grateful to all three consultants for the excellent programme of learning. 23 Early Years Wales **----- Start of picture text -----**
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## Support for parents of children in the early years; support for parentled groups (e.g., Parent and Toddler groups) ## **What we did** **As so much of the policy landscape has changed in Wales in recent years, our policy pack for the Parent and Toddler groups was updated in 2023/24.** This important pack aims to provide the organisers of parent and toddler groups with the knowledge and information to help them run their settings effectively. The pack has been made available to current members of Early Years Wales as a free downloadable resource. **During 2023/24 we continued to provide our training offer Active Baby and You and Active Baby at Home courses.** This training supports parents and professionals with key information about the child development pathway that babies are on. The focus is to improve the opportunities for movement with the children through the use of freely available resources that the professionals and parents can access at home. This movement promoting training aims to help everyone with the knowledge about the whole-child benefits of movement and facilitates practical invitations to move with children and to connect with the baby in their formative years. **We launched a new, Play Move, Thrive area on our website.** This area includes videos, resources and guides for parents and practitioners. The resources allow a freely accessible basic package of support, alongside more in-depth learning materials that are available following practitioner or parental attendance at one of the courses named above. We think all parents should be informed of some of the key information about a child’s first **1,000 days** and have made this available to all. 24 Annual Report 2023 - 2024 **----- Start of picture text -----**
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## The difference we made **Supporting parents and young children to have highly positive experiences through** _smalll_ **talk magazine.** During 2023/24 Early Years Wales _small_ **talk** magazine tackled several important issues that affect families away from the setting. Some of those articles can be read by clicking on the images below. Brush-up on Dental Health (May 2023) The Importance of Sound (May 2023) Everyone deserves a well-furnished home (October 2023) What is Juvenile Idiopathic Arthritis (February 2024) ie **Photo credit:** Everyone deserves a well-furnished home, _small_ **talk** , (October 2023), 25 Annual Report 2023 - 2024 **----- Start of picture text -----**
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## Promoting a positive start for all children through their early years (0-5) **Promoting wide-spread understanding of the importance of the first 1,000 days of childhood.** Through all our communication channels and programmes in 2023/24 we have shared the latest research in child development and neuroscience with our members, stakeholders and elected representatives. We were delighted to ||i read from the incoming First Minister, Vaughan Gethin about his focus on the first => | 1,000 days for children. We established a partnership with Alberta Family Wellness Centre and have translated their asset pack on the Brain Journey they authored and promoted in partnership with Oxford University into Welsh. ## **During 2023/24 we worked with the Open University to co-author a child-** **development module of learning, ‘Incredible Years’.** This Open University hosted learning module aims to help anyone with a professional interest in working with children to understand the developmental journey they undertake and how children need play, experiences, language and communication and movement to develop ‘ holistically. The online module will become part of the Open Universities module of learning for continuous professional development in early years pedagogy. |‘ i learning for continuous professional development in early years pedagogy. **All staff in Early Years Wales have undertaken basic training in neurological development of children and the brain journey concepts.** presentations and made connections to policies and practices that have robust an Om , ' **All staff in Early Years Wales have undertaken basic training in neurological development of children and the brain journey concepts.** We have begun to share and disseminate the brain journey information to our stakeholders through presentations and made connections to policies and practices that have robust evidence-based impact on children in early years. Our plans for 2024/2025 include rolling-out this information more widely; both to practitioners and parents. 26 Annual Report 2023 - 2024 Early Years Wales **Working in partnership with Aneurin Bevan University Health Board (ABUHB), we have undertaken a pilot project to support the community practitioners to understand how movement, language and opportunities daily help young children’s development.** This project aimed to help ABUHB with some of the challenges around infant obesity. Our approach connects the movement children undertake to their development. It includes reference to children’s progressions from primitive reflexes to postural control and how these developments help children with learning, communication, self and co-regulation, and executive function. ## **What we did** **Following our event Movement Matters: Holistic child development through the lens of physical development** we were approached by Public Heath Gwent to deliver our umbrella physical literacy training to **five** local authorities across Gwent. The programme consisted of our Active Baby (0 -18 months), Active Toddler (18 months – 3 years), and Active Child (3 - 5 years) training courses. Working with early years stakeholders and community sports development officers we were required to provide a post-delivery evaluation of training to assess the impact of the training and how it has been embedded into their practice. We were supported by the Healthy and Sustainable Pre-School Scheme Officers who will support the implementation across each area. In total, we ran **5** Active Baby, **5** Active Toddler, and **4** Active Child sessions with **146** attendees across all programmes. For more information on the courses, click here 27 Annual Report 2023 - 2024 Early Years Wales ## **What the participants said** **----- Start of picture text -----**
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28 Annual Report 2023 - 2024 Early Years Wales **Creative Learning in the Early Years.** Our jointly funded project working in partnership with Paul Hamlyn Foundation, Arts Council of Wales, and externally evaluated by Cwmpas has continued to develop excitingly. During 2023/24 **12** settings completed the initial pilot with some incredible journeys noted in the report. Also during this period we facilitated the engagement of Mudiad Meithrin into the project, and recruited an additional twenty settings to work with us during year 2. The training provided has supported **12** creative professionals to work in the early years sector. Click the cover image to read the report in full **----- Start of picture text -----**
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“Opportunities to move creatively and be physically expressive are vital to the development of early years children. As a dance artist, I am fortunate to spend time playing with young children to support their physical development and communication. It is often difficult to tell who is having more fun wriggling like a worm, jumping like a frog or flying like a butterfly! The smiles are infectious, passing from one child to another around the group, and the giggling always adds another beautiful layer to music I use to help support and stimulate movement that sparks children’s imaginations.” - Angharad Harrop, Dance Artist Click here to read the article in full **----- Start of picture text -----**
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‘Through real life experiences, children learn about the interrelationship of all living things. SS This helps them to think about the bigger questions of the environment, sustainability and climate change.’ (Froebel Trust: 2022) Camau Cyntaf Rhydyfelin took art in the Creative Learning in the Early Years programme. Their area of focus was on engaging with nature and outdoor learning. The impact this project had on one child in particular was extraordinary. Click here to read the article in full **Photo credit:** j How can we support the next generation to be more efficient and sustainable?, q - a FiiieBa Lies ! small_ **talk** = , (May 2024), pg 07 - 09 — 7s ay Annual Report 2023 - 2024 Early Years Wales ## Advocacy for the providers and users of early childhood education and care **Challenging funding levels for the childcare sector.** During autumn 2023 we recognised the challenges childcare providers would face in meeting the uplifts to the Living Wage from April 2024. We surveyed our membership and reported their concerns to the Welsh Government in January 2024. Our report highlighted the concern about financial viability and sustainability in the current economic climate. The report summary is provided here. We have worked closely with policy makers to raise awareness of the financial challenges that the sector faces from April 2024. We continue to advocate for further investment into the early years sector in Wales. **During 2023/24 we worked with the Welsh Government cross-party groups on poverty, and children and families, and represented the childcare sector in response to reports about the impact of childcare costs on family budgets and poverty.** We attended two report launch events at the Senedd and one hosted in a family centre in RCT led by Oxfam Cymru. Working with the cross-party group on poverty, and the Welsh Government cross-party group for children and families, Early Years Wales has attended four meetings during 2023/24 to provide the perspective of the childcare and early years sector. 32 Annual Report 2023 - 2024 Early Years Wales ## **In June 2023, we hosted our awards and conference event.** The awards, supported by prizes and contributions from Community Playthings for all category winners recognised the positive and innovative work that the providers of childcare undertake in Wales. (See case study below for information). The conference keynote speakers were: Laura Henry-Allain MBE - how stories and narrative support an anti-racist approach in early years Alice Sharpe - the power of imagination - Paul Isaacs - ‘Live as a fruit salad’, reflecting on the many presentations of autism and behaviours that people with autism use. Our summary playreel highlights the enthusiasm, joy, and networking that the event brought with it. For all our winners, the value they place on the recognition for the work they do with children is clear. 33 **----- Start of picture text -----**
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## Positive difference... We believe that the early years and childcare sector makes a significant and lasting positive difference to children and our awards aim to recognise excellence, promote the impact of the work that practitioners do, and raise the profile of the sector. Read all about our 2023 winners here **Photo credit:** Early Years Wales Annual Report 2023 - 2024 **----- Start of picture text -----**
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## Our future plans **As an organisation we are continually reflecting on the value of our services and the opportunities that we want to offer for our members. The following outlines some of our plans for 2024 and 2025.** **Free membership offer** – our Trustee Board voted to extend our free membership offer in 2024-2025. The majority of this is funded from our invested reserves. We are grateful to the Moondance Foundation for their sponsorship of the free membership offer for home-based childcare providers and charity childcare providers. This funding substantially supports our offer and extends our reach. **Asynchronous learning** – our learning portfolio continues to develop. This year our focus shifts towards more asynchronous learning content as we recognise that the opportunity to attend scheduled sessions in the day and evening remains challenging for our members. Our Play, Move, Thrive offer, and our related member content in our Shop area begins our population of some consistently available asynchronous learning material. **Supporting the transmission of the Welsh language** – our plans to support greater parental engagement in their children’s use of Welsh include more interaction with Parent and Toddler groups and more support to help parents develop the confidence to use Welsh with their children. **Staffing changes** – we have undertaken a staffing structure review and significantly altered our management structure to reflect our key priorities and budget resources. **----- Start of picture text -----**
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**Updated membership offers and benefits** – we are reframing our membership offers and updating the range of products and services we provide for each member category. 35 Annual Report 2023 - 2024 Early Years Wales **Partnership working with DARPL** - we continue to demonstrate leadership in the sector with our contribution to DARPL, and the work taking place at strategic and operational levels to embed anti-racist practice into early years in Wales. Our journey to date is summarised in our CEO’s case study hosted on the ~~—__~~ DARPL website. This work is supported by our bespoke training and learning offer focused on the early years of childhood and the work practitioners can do in their settings and with the families they support. We are working with DARPL on updated practitioner training. - **Website updates** – we are updating our website. This work will help us improve our public projection and share a better user journey to our products and services. **Office footprint** - we have rationalised our office footprint to allow staff to work more agilely. This reduction in liability from our estates frees up capacity for greater investment into people and services. **Photo credit (Back page): Creative Movement in the Early Years** , _small_ **talk** , (October 2023), pg 22 - 25 36 **----- Start of picture text -----**
earlyyearswales Early Years Wales
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www.earlyyears.wales
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Charity registration number 1056381 Company registration number 03164233 (England and Wales) EARLY YEARS WALES 2018 TIA EARLY YEARS WALES ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 EARLYYEARS WALES 2018 TIA EARLY YEARS WALES CONTENTS Page Trustees report Statement of trustees responsibilities Independent auditorfs report 9-11 statement of financial activities 12 Balance sheet 13-14 Statement of cash flows 15 Notes to the financial statements 16-34 EARLYYEARS WALES 2018 TIA EARLY YEARS WALES TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annual report and financial statements for the year ended 31 March 2024. The financial stalements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's goveming document, the Companies Act 2006 and "Accounting and Reporting by Charities= Statement of Recommended practi￿ applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).. Objectives and activities The purposes of the charity as set out in the goveming documents and articles are: For the public benefit, alone or in conjunction with other organisations. the promotion and advan￿ment of the education, development and care of preschool children in Wales by: a. Providing support and guidance induding upon governan￿, regulation. planning, quality improvement and workforce development to organisations and individuals that provide for the education and care of preschool children: and b. Encouraging parents, carers and families of preschool children to understand their needs and to provide for their needs by engaging them in activities that promote their education, development and care. Early Years Wales, main activity is to support all children, adults with childcare responsibilities and eady years providers to give every child across Wales the best start in life. We believe that all families have the right to high- quality play. education and care opportunities to help their children reach their potential. Our strategic aim: To support all pre-school children. their families and early years providers to give every child across Wales the best start in life. Our objectives.. 1. Supporting the early years providers and the early years workforce 2. Supporting parents, carers and families to participate in play 3. Promoting the work of Eady Years Wales widely 4. Contributing to policy implementation at National and local levels 5. Developing partnerships 6. Maintaining and developing the organisation's govemance and management 7. Recruiting and developing staff and volunteers 8. Seeking and managing funding to maintain and expand our services We aim to facilitate giving children the best start in life by providing ServI￿S that promote child development and support families throughout Wales. This is achieved by supporting members to provide eady intervention and family service programmes. We offer high-quality support and representation for our members and offering our own accredited quality assurance schemes. The charity also works collaboratively with other organisalions. including other early years, childcare, education, playwork charities and statutory agencies to deliver our services. The charity promotes and delivers access to affordable. flexible, and high-quality childcare provision. Early Years Wales has always promoted the value of parental participation in their child's development. This was a founding objective of the organisation and we continue to develop ways to ensure that families are supported from the birth of a child and throughout their early years. We see our role as providing our members with information, guidance, offering a listening ear and supporting them to achieve their goals. We measure our Suc￿sS in achieving these objectives by analysing the impact of our work through our reporting and monitoring and through case studies. Through our work, Early yea￿ Wales seeks to support its members by encouraging discussion about early years services. We keep them updated on changes to legal requirements and assist with planning to sustain their businesses. EARLYYEARS WALES 2018 TIA EARLY YEARS WALES TRUSTEES REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 In addition. we provide targeted one-to-one support., news about the eady years sector. and signposting to qualifications and training opportunities. Eady Years Wales, dedicated Foundation Phase support, Welsh Language support, our Quality for All quality assurance scheme, our Healthy and Active project, and the development of support publications and resources all seNe to improve quality in the sector. We recognise that many early years providers operate in a diverse range of environments which can be challenging. These include rural communities and areas of disadvantage. Many settings are reliant on a mixed economy of funding e.g., Flying Start, Early Entitlement for & and 4-year-olds and parent fees, and the Childcare Offer. These factors can challenge sustainability, as can local and national funding initiatives. Our aim is to inform. support and signpost so that these issues Gan be addressed, and capacity maintsined. The Trustees have paid due regard to guidance issued by the Charity Commission's public benefit guidance in deciding what activities the charity should undertake and in planning future activities. Due diliger￿e is given to how planned future activities will contribule lo the strategic aim. Achievements and performance See full document for our review of the achievements and perforniance of Early Years Wales in 2023124. EARLYYEARS WALES 2018 TIA EARLY YEARS WALES TRUSTEES REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Financial review Incoming Resources Incoming resources for the year ended 31 March 2024 was £979,367 {2023'. £1,244.484). Income from charitable activities was £935,630 and has increased from £1.211,099. Resources Expended Resources expended during the year ended 31 March 2024 were £1,191,939 (2023= £1,301.5591- Results Net outgoing resources for the year were £116.649 {2023= deficit of £110,731). Before investment gains {2023= losses), an unrestricted deficit of £196.124 was generated (2023.. deficit of £25,178) and a £16,448 restricted deficit generated12023'. £31,897 deficit). Cash Flow Cash flow remains strong, holding £212,481 (2023: £118,545) in cash. Principal Risks and Activity The principal risk identified by the Trustees is our reliance on short-temi funding. We are seeking to mitigate this by widening our training offer, increasing our member services and resources, and moving towards strategies that can diversify income sources. Cyber Security We work to the best-practice principles of Cyber Essentials. All data is stored and accessible only through an encrypted gateway. All equipment is monitored on a 6-monthly basis. All data is backed-up routinely and unique Gopies are held to prevent data loss. Investmenl Powers and Policy The Trustees. having regard to the liquidity requirements of the charity have previously operated a policy of keeping surplus cash balan￿S as liquid as possible and any surplus balances will be invested in deposit accounts. Market volatility continues to limit the growth in the investment, and having set a deficit budget. we have used funding from our reserves to support our programme of delivery. There has been no negative impact on the dividend retum we have achieved. and our investment is monitored closely by the Board and reviewed annually with the investment management company. Our Investment Policy Statement is reviewed annually by the Board. Reserves Policy We have ulilised some of our reserves over the past years to continue what we believe to be essential services. With increased opportunities for partnership working. the association needs to be in a strong and s(xJnd position to be confident in applying for funds. The Charity receives extemal funding in the fomi of grants and contracts to support its very important activities in the furtheran￿ of charitable objectives. Such funding sources are subject to change and cannot be guaranteed. In addition, the Charity undertakes project-driven work for which restricted income is re￿ived. The Trustees in the past considered that the level of reserves needed to be sufficient to cover 12 months, running costs. As the organisation holds over this amount, the Trustees are now looking to utilise some of that money for Gharitable aims and review the designation for further funds. In the budget for 2022123, the Trustees designated £280,000 to be allocated to the projects identified below: Central Support Services Governance Healthy and Active Fund match-funding People Development and Leaming Welsh Translation At the reporting date, free rese￿eS were £1.170.595 (2023: £1.244,714) representing unrestricted funds less tangible fixed assels less designated reserves. The remaining funds are held with an aspiration to achieve income that the charity can spend on its aims. EARLYYEARS WALES 2018 TIA EARLY YEARS WALES TRUSTEES REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Structure, governance and management Governing Document Early Years Wales is a charity and company limited by guarantee and is govemed by memorandum and articles dated 12 July 2018. Directors and Trustees The directors of the charitable company (the Charity) are its Trustees, for the purposes of charity law and throughout this report they are collectively referred to as the Trustees. Appointment of Trustees As set out in the current Articles of Association, the Chair. Wice Chair and Treasurer are elected by the Trustees and members. The Company Secretary is appointed by the Trustees. The Trustees are recruited using a variety of methods ranging from general advertisements. direct approach where specific skills or experiences are sought. and referrals. Trustees are appointed for a period of four years and can be reappointed for a further four years before stepping down for at least 12 months. Trustees are a blend of Earfy Years Wales members representing the early years sector, and volunteers with skills and experience from professional and personal experien￿. CcFopted Trustees may also be appointed. Trustee Induction and Training Trustees are inducted into Eady Years Wales by the CEO and Chair. There is bespoke and generic Trustee training available. Organisation The Board of Trustees, which can have up to 20 members. administers the Charity and sets the overal mission, direction, and strategies of Earty Years Wales. It scrutinizes performance to secure effective implementation of strategy as well as approving budgets and monitoring membership and the risk assessment register. Details of implementation and execution are the responsibility of the senior management team led by the Chief Executive Officer. This ensures that.. 1. The organisation stays focused on its mission and strategy. 2. Key strategic and policy decisions are made by the board, and 3. Support and constructive challenge are given by the Trustees to the senior management team and the Chief Executive. The board meets six times a year. The finance group meets in the interim months be￿een board meetings. Related Parties There are no related paty transactions relating to the financial year 2023124 {2023- nil). All interests are required to be declared and signed in the Trustees Declaration of Interests proforma as required under Early Years Wales, code of governance. A conflict-of-interest register is kept and updated annually or when appropriate. In addition, all Trustees are asked to declare any interest pertinent to the agenda at all Board Meetings. We have plans to ulilise Trustee expertise in support of our Anti-racist action plan and will report this in 2024125 subject to any related party benefiting from payment for professional skills and services. EARLYYEARS WALES 2018 TIA EARLY YEARS WALES TRUSTEES REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Key Management Personnel The Trustees consider that key management personnel are the senior staff. consisting of: Chief Executive - Dave Goodger National Development Manager- Maggie Kelly North Wales Manager- Moya Williams West Wales Manager- Elaine Jones {retired January 2024) South Wales Manager- Andrea Wright People Learning and Development Manager- Julie Powell PA and Office Manager- Julie Besley Finance Manager- Lisa Mcmullen Pay Policy for Staff. Salaries for all staff are approved by the full Board and are sel at market rate. Early Years Wales is a Real Living Wage employer. Employment Policies Early Years Wales policy is to give full and fair consideration to applications for employment made by disabled persons, having regard to their aptitudes and abilities. Disabled employees receive appropriate training to promote their career development within the charity. Employees who become disabled are retrained in their existing posts where possible or retrained for suitable alternative posts. Regular meetings are held with all staff. Employees are kept well informed about the progress and position of the charity by regular departmental meetings. Risk Management Early Years Wales considers itself to be a 'risk intelligent. organisation. taking appropriately managed risks in an increasingly difficult environment. Our risk register and risk management prO￿dureS are fully embe(kJed within the organisation. The risk register is updated and reviewed by Trustees and Senior Managers at the Board Meetings. Covid-19 Response During 2023124 there were no disruptions caused by Covid-19. EARLYYEARS WALES 2018 TIA EARLY YEARS WALES TRUSTEES REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Reference and administrative details Charity name Earfy Years Wales 2018 TIA Early Years Wales Charity number 1056381 Company number 3164233 Principal and registered office Unit 1 Coopers Yard Curran Road Cardiff CF10 5NB Trustees Carolyn Asante Dr David Dallimore (Chair) Kathryn Leighfield Tom Maclean - resigned 01102124 Lisa Owen Jamie Powell Emily RI￿ - appointed 01102124 Mike Thome - resigned 31103124 Victoria Wright- resigned 01102124 Jocelyn Elmer- appointed 01102124 Jaziea Farag - appointed 01102124 Gabriella M8redith- appointed 07112123 Clare Murphy - appointed 01102124 Secretary David Goodger Auditors Azets Audit servI￿s Ty Derw Lime Tree Court Cardiff Gate Business Park Cardiff CF23 8AB Bankers Bardays Bank 51 Hope Street, Wrexham LL11 1BE Investment providers CCLA Senator House 85 Queen Victoria Street London EC4V 4ET EARLY YEARS WALES 201 TIA EARLY YEARS WALES TRUSTEES REPORT ICONTINUEDIIINCLUDING DIRE¢TQfl8' REPORT) FOR IHE YEAR. ENDED JI 2074 In •cwd•nM 4¥Sth the ¢4)fftWpVs ariklts. a rescth1lK￿ wopoÈlftq thatbxéts knll bt at auditDr of thè c ASATJf rdARCrt 2024 Oe, loi Ihg VCgT endryd 31 IAaith 2024, in iudll has bKn wi•d undqr ucoon 144 Df Ctharitp 2011. The diretth]r& their I￿ponSIbl[l￿ Iyv Corn￿￿1n9 wllb Ib¢ iequltvffdonts rf V¥r Conwdos Ad 2U06 th re5PEU w xuurtw recwds ihe rAèpar>T￿ ol f￿￿al ￿a￿nan￿. ThB T[￿￿kW￿5 wued Ihe lo of ¥¢•t4pn•rqTr the t¥quirvrnyryts ol thB GompJnlBi 2C(& IDr the year in in accordance wnh 47 Thè&è knBTtIB hasv ￿ rwEpaipd in Tmrfh Ihe Byplicable to lo Ihq 4nwl corYw••J r•glm TM fflnanc41 wèré by ,.---.. .--- ... D4¥1d ￿llIn￿)I* ¢halr CWp￿Y Re95•ty￿ 03161Z39 EARLYYEARS WALES 2018 TIA EARLY YEARS WALES STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operating activities Cash absorbed by operations 29 (57.5091 1209.3721 Investing activities Proceeds from disposal of investments Investment income received 120.000 31.445 32,351 Net cash generated from investing activities 151,445 32,351 Net cash used in financing activities Net increasel(decrease) in cash and cash equivalents 93.936 1177,0211 Cash and Gash equivalenls at beginning of year 118,545 295,566 Cash and cash equivalents at end of year 212,481 118,545 15- EARLYYEARS WALES 2018 TIA EARLY YEARS WALES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charity infonnation Early Years Wales 2018 is a prrvate company limrted by guarantee incorporated in England and Wales. The registered office is Unit 1, Coopers Yard, Curran Road, Cardiff CF10 5NB. 1.1 Accounting convention The financial statements have been prepared in accordan￿ with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in steding. which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below. 1.2 Going concem At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existen￿ for the foreseeable future. Thus the trustees continue to adopt the going concem basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricled funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Designated funds comprise fvnds which have been set aside at the discretion of the trustees for SFecific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements. Restricted funds are subject to specific conditions by donors as to how they may be used. The purp)ses and uses of the restricted funds are set out in the notes to the financial statements. 1.4 Incoming resources Income is recognised when the charity is legally entided to it after any perfonnance conditions have been met, the amounts can be measured reliably, and it is probable that income wll be received. Cash donations are recognised on re￿IPt. Other donations are recognised On￿ the charity has been notified of the donation, unless performance conditions require defe￿al of the amount. Incoming reSoUr￿S from charitable activities indudes income re￿iVed under contract or where entitlement to grant funding is subject to specific performance condilions. This income is recognised as the related services are provided and there is entitlement. probability of receipt and the amount can be measured with sufficient reliability. Income is deferred when the amounts received are in advan￿ of the perf0mlan￿ of the service or event to which they relate. Income from memberships is recognised in the period in which the membership covers. Any income re￿iVed in advance is deferred. Income from training and course income is recognised in the period to which the service is provided. Any income received in advance is deferred. Income from interest and dividends is included in the accounts when receipt is probable and the an￿Unt receivable can be measured reliably. 16- EARLYYEARS WALES 2018 TIA EARLY YEARS WALES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) 1.5 Resources expended Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditu￿ is classified by activity. The costs of each activity are made up of the lotal of dIr￿t costs and shared costs, including support costs involved in undertaking each activity- Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support cosls which are not attributable to a single activity are apportioned between those activities on a basis consislent with the use of reSoUr￿s. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. Expenditure on charitable aclivities includes all costs relating to the furtheran￿ of the charitys objectives as stated in the trustees report and their associated support costs. Support costs have been allocated between govemance costs and other supporl. Govemance cosls comprise all costs involving public accountability of the charity and its compliance with regulation and good practice. Support costs include central functions and have been allocated to activity cost categories on a ￿sIS consistent wilh the use of resources and the amount of time spent on activities for staff costs. Where the charity gives a grant with conditions for its payment being a specific level of Servi￿ or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output. Where there are no conditions attaching to the grant that enables the donor charity to realistically avoid the commitmenl, a liability for the fvll funding obligation must be recognised. 1.6 Intangible fixed assets other than goodwill Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases= Website 20Yo Straight line 1.7 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequendy rneasur8d at cost or valuation, net of depreciation and any impaimient losses. Depreciation is recognised so as lo write off the cost or valuation of assets less their residual values over their useful lives on the following basis: Office equipment Computer equipment 33.3 % straight line 33.3% straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the Garying value of the asset. and is recognised in the statement of financial activities. It is the charity's policy to not capitalise computer equipment where the individual value of the item does not ex￿ed £2,000. 17- EARLYYEARS WALES 2018 TIA EARLY YEARS WALES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) 1.8 Fixed asset investments Fixed asset investments are initially measured at transaction price exduding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomel(expenditure) for the year. Transaction costs are expensed as incurred. 1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with bank5, Other short-temi liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.10 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues. of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balan￿ sheet when the charity becomes party to the contractual provisions of the instnjmenl. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction. where the transaction is measured at the present value of the future re￿Ipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amorlised. Derecognition of financial assets Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelaled third party. Basic financial liabilities Basic financial liabilities, induding creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are dassified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amorlised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or can￿lled. 18- EARLYYEARS WALES 2018 TIA EARLY YEARS WALES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) 1.11 Employee benefits The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed lo terminate the employment of an employee or to provide termination benefits. 1.12 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. 1.13 Leases Rentals payable under operating leases, induding any lease incentives received, are charged as an expense on a slraight line basis over the lerm of the relevant lease. 1.14 Taxation As a registered charity, the charity is entitled to the exemption from taxation in respect of income and capital gains received with sections 478489 of the Corporation Tax Act 2010 and section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects purposes only. Critical accounting estimates and judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are Gonsidered lo be relevant. Actual results may differ from these estimates. The estimates and undedying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Donations and legacies Unrestricted Unrestricted funds funds 2024 2023 Donations and gifts 10,427 419 19- EARLYYEARS WALES 2018 TIA EARLY YEARS WALES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charitable activities 2024 2023 Membership Courses and training Grants Quality assurance Sale of publications and promotional items Other income 150 16,165 1.181,143 9,511 4,130 30,270 883,828 12,555 5,065 3,912 935,630 1,211,099 Analysis by fund Unrestricted funds Restricted fvnds 51,802 883,828 29,956 1.181,143 935,630 1,211,099 Grants were received from the following sources: 2024 2023 Welsh Government - CWLWM Welsh Government - Cynllyn Plethu Welsh Government - DCELLS: Early Years C¢TrOrdinator Welsh Government- Welsh Language Department Camiarthenshire County Council - Children's Services Ceredigion County Council - Family Infomiation Service Conwy County Borough Council- Education Services Denbighshire County Council - Flying Start Flintshire County Council Isle ofAnglesey County Council MoondanGe Foundation Monmouthshire County Council Mudiad Ysgolion Meithrin Newport City Council - RSG PACEY Cymru Swansea City Council - Early Intervention Service Welsh Active Earfy Years Project Wrexham County Council 473,898 50,000 60,000 50,000 673,898 29,167 60,000 50,000 12,500 5,000 5,000 8,093 80,333 8,750 35,000 6,000 1,500 95,000 520 14,990 92,892 2,500 5,000 7,500 8,093 55,207 8,750 30,000 6,000 106,890 14,990 7,500 883,828 1.181.143 -20- EARLYYEARS WALES 2018 TIA EARLY YEARS WALES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Investments Unrestricted Unrestricted funds funds 2024 2023 Interest and dividends receivable 31,445 32,351 Other income Unrestricted Unrestricted funds funds 2024 2023 Other income 1,865 615 21 EARLYYEARS WALES 2018 TIA EARLY YEARS WALES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charitable activities 2024 2023 Staff costs Depreciation and impaimient Grant funding retumed Bank and other charges Computer, internet costs and telephone Insurance Other costs Other staff Gosts Events Printing. post and stationery Professional fees Publications, training and subscriptions Quality assurance Premises costs Travel and subsistence 713,797 9,190 25,380 128 24,961 954 467 8,984 38,486 37,266 {893) 55,513 1,912 76,378 22,433 764,037 1.154 2,787 24,219 483 3,348 12,529 19,938 32,226 6,069 81,576 4,967 95,270 20,192 1.014,956 1.068.859 Grant funding of activities (see note 9) 74,852 130,646 Share of support costs (see note 10) Share of governan￿ costs (see note 10) 84,207 17,924 91,651 10,403 1,191,939 1.301,559 Analysis by fund Unrestricted funds Restricted funds 291,663 900,276 88,519 1,213,040 1.191,939 1,301.559 Grants payable 2024 2023 South East Wales Eady Years Wales small grants 37,629 37,223 67,938 62,708 74,852 130,646 -22- EARLYYEARS WALES 2018 TIA EARLY YEARS WALES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Grants payable (Continued) During the year the charity awarded £74,852 {2023- £130.646) in grants to organisations and £nil (2023- £nil) to individuals. The number of grants awarded to member organisations during the year totslled 230 (2023- 2111, the smallest grant given was £18 (2023: £8) and the largest £2.650 (2023= £1,128}. 10 Support costs Support Governance costs costs 2024 Support Governance costs costs 2023 Staff costs Depreciation Bank and other charges IT and telephone Premises costs Insurance Professional fees Publications, training and subscriptions Travel and subsisten Other staff costs Printing. post and stationery 23.249 23.249 19,663 8,516 1.593 11.054 1,415 10,359 11,108 19,663 8,516 1.593 11.054 1,415 10,359 11,108 1.308 9.127 1.924 8.610 11.788 1.308 9.127 1,924 8,610 11,788 313 313 506 296 1.912 506 296 1,912 2.818 2.818 25.063 25.063 25.229 25.229 Audit fees Trustee expenses and meeting costs 17,280 17.280 9,420 9,420 983 983 84.207 17,924 102.131 91.651 10,403 102,054 Analysed between Charitable activities 84,207 17.924 102,131 91.651 10,403 102,054 Governance costs indudes payments to the auditors of £14,400 for audit fees (2023- £7,500) and accountancy fees of £2,880 (2023.. £1,920). -23- EARLYYEARS WALES 2018 TIA EARLY YEARS WALES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 11 Nel gainsl(losses) on investments Unrestricted Unrestricted funds funds 2024 2023 Revaluation of investments Gainl(loss} on sale of investments 92,649 3,274 153,6561 95,923 153,6561 12 Trustees None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the current or prior year. No trustees {2023: 1 trustee) were reimbursed for IT equipment during the year. 12023: £200) 4 trustees 12023.. 3) were reimbursed £1,302 (2023- £732) for travel and subsistence expenses. 13 Taxation The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the exient that these are applied to its charitable objects. -24- EARLYYEARS WALES 2018 TIA EARLY YEARS WALES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 14 Employees Number of employees The average monthly number of employees during the year was: 2024 Number 2023 Number Functional Support 17 18 10 25 28 Employment costs 2024 2023 Wages and salaries Social security costs Other pension costs 659,766 51,574 25,706 695,550 59,629 28,521 737,046 783.700 The full time equivalent number of stsff employed throughout the year was 23 (2023= 24)- Included within wages and salaries costs are redundancy payments totalling £14.252 (2023= £nil}. As at the current year end £nil was outstsnding. There were no employees whose annual remuneration was £60,000 or more. 15 Key management personnel The key management personnel re￿iVed remuneration totalling £320.655 (2023: £321.542). The key management personnel of the charity during the year were the National Development Manager, Wesl Wales Manager, North Wales Manager, South Wales Manager. PA and Office Manager. the CEO. the People, Learning and Development Manager and the Finance Manager. 16 Pension commitments The company operates a defined contribution pension scheme. The assets of the 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 £25,706 (2023 - £28,521). There were no amounts outstanding at the year end in the current or previous year. -25- EARLYYEARS WALES 2018 TIA EARLY YEARS WALES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Intangible fixed assets Website Cost At 1 April 2023 and 31 March 2024 41.250 Amortisation and impaimient At 1 April 2023 Amortisation charged for the year 18,150 8.250 At 31 March 2024 26,400 Carrying amount At 31 March 2024 14,850 At 31 March 2023 23,100 18 Tangible fixed assets Office equipment Computer oquipmont Total Cost At 1 April 2023 83,410 18,954 102,364 At 31 March 2024 83.410 18.954 102.364 Depreciation and impairment At 1 April 2023 Depreciation charged in the year 81.530 940 18.954 100,484 940 At 31 March 2024 82,470 18,954 101,424 Carrying amount At 31 March 2024 940 940 At 31 March 2023 1,880 1,880 -26- EARLYYEARS WALES 2018 TIA EARLY YEARS WALES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Fixed asset investments Listed investments Cost or valuation At 1 April 2023 Valuation changes Disposals 1,059,745 92,649 (116,7261 At 31 March 2024 1,035,668 Carrying amount At 31 March 2024 1.035,668 At 31 March 2023 1.059,745 20 Financial instruments 2024 2023 Carrying amount of financial assets Instruments measured at fair value through profit or loss 1.035,668 1,059.745 21 Debtors 2024 2023 Amounts falling due within one year. Trade debtors Prepaymenls and accrued income 8,680 22,595 9,638 229,048 31,275 238,686 22 Creditors: amounts falling due within one year 2024 2023 Notes Other taxation and social security Deferred income Trade creditors Other creditors Accruals 12,529 47,624 1,440 1,912 17,702 16,787 23,329 55,063 5,830 10,291 23 81,207 111,300 -27- EARLYYEARS WALES 2018 TIA EARLY YEARS WALES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 23 Deferred income 2024 2023 Arising from government grants Arising from membership and training income 21,504 26,120 21,504 1,825 47,624 23,329 Deferred income is included in the financial statements as follows= 2024 2023 Balance brought forward Income received Income released 23,329 46,984 (22,689) 21,974 39.174 {37.8191 Balance carried fO￿ard 47,624 23,329 -28- EARLYYEARS WALES 2018 TIA EARLY YEARS WALES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 24 ReslriGted funds The income funds of the charity indude restricted funds comprising the following unexpended balan￿S of donations and grants held on trust for specific purposes- Movement in funds Incoming Resourcès Balance at resources expended 1 April 2023 Movement in funds Incoming R8sourc&s Balancè at resources expended 31 March 2024 Balance at 1 April 2022 Welsh Govemment County funds Moondance Foundation PACEY Cymru 813,065 332.558 (813,065) (364.455) 633.898 219.930 (633,898) (236,378) 57.284 25.387 8.939 35,000 (35,000) 30,000 (30,000) 520 (520) 57.284 1,181,143 (1,213,040) 25,387 883,828 (902,576) 8,939 Welsh Government - CWLWM. Awarded to the Cwlwm Partnership of Earfy Years Wales, Clybiau Plant Cymru Kids, Clubs, NDNA Cymru, Mudiad Meithrin and PACEY Cymru. Cwlwm's brief is lo support Welsh Govemment's aim to ensure that families across Wales can access affordable, quality childcare providing innovative solutions to create flexible childcare and play opportunities to meet the needs of parents and their families. To tackle issues within the Childcare and Play sector. These indude but are not restricted to- SLEtsinability, workforce development and gaps in childcare provision, especially as far as Welsh-medium childcarelplay and provision in rural areas are concemed. By working together. innovative solutions to flexible childcAre and play opportunities. and wraparound care to meet the needs of parents and families in all parts of Wales is achieved. Welsh Government - Education Directorate - Foundalion Phase Development Officer. To provide expert support to members delivering the Foundation Phase in the non-maintained early years sector, through a programme of face-t(kface visits, email support and signposting. Ceredigion County Council - Family Infomiation Services. To support members with termly visits to registered settings, support with CIW requirements grant applications and business health checks. Carmarthenshire County Council - Children's Service. To support members to deliver quality provision by termly contact telephonelemail business support and visits, CIW requirements support start-uplexpansion of places. representation at local meetings. promoting Quality for All scheme. Pembrokeshire County Council. To support member childcare providers by contact through face to face and e-mail contact, raising the standard of settings and promoting Quality for All award, to promote uptske of workforce training. Swansea City Council - Early Inlervention Service. Support indudes, attending meetings, support lo conduct CSA refresh, conducting feasibility study on expansion of childcare services, supporl to register and comply with CIW NMS. Promotion of Healthy Snack Award and Healthy and Sustainable pre-school schemes Isle of Anglesey County Council. To provide business, managerial and administralive advice and support to local committees, leaders and paid staff. Forward training needs to the Authority and the Children and Young People's Partnership. Provide support to the Referral Scheme and the SEN Specialist Teacher and attend any relevant specialist training to be ready for significant changes. Flintshire County Council. To provide support to early years providers to be sustainable businesses via visits, email, phone or office support. -29- EARLYYEARS WALES 2018 TIA EARLY YEARS WALES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Reslricted funds (Continued) Flintshire County Council (Childcare Partnership) To provide business support for member settings in Flintshire, via development worker visits. email or telephone support. Additional needs & Brokerage co- ordinator supporting settings. children. families and the local authority with all aspects of their referral schemes. Denbighshire County Council (Flying Start) To provide business support and guidan￿ to members providing Flying Start services in Denbighshire via visits to settings, email or telephone. Welsh Government Welsh Language Support Funding to promote the existence of 'Camau' by engaging with the sector and encouraging employers to take advantage of the training available. Ensuring resources are available to supporl leamers, sharing all Cwlwm partner resour￿5 loo where possible and lo provide aftercare support as required for leamers and the settings they work in. Newport City Council. Childcare contract project led by Early Years Wales to provide business support to all providers including childminders and out of school clubs via visits, emaillphone and virtual calls. Early Years Wales administers and runs the Eady Years Wales Additional Needs Refe￿al scheme, coordinator supports settings. parents and children as part of the scheme as well as supporting children accessing funds from the childcare offer. Newport City Council Education Services. Additional Needs Referral scheme Goordinator administers funding for 1-1 support for children with ALN who access education through the notFmaintained sector. This scheme runs as part of the main scheme within the Newport childcare contract. Monmouthshire County Council. To provide support to member settings in Monmouthshire. Support for business skills, legal compliance and promotion of quality is provided via email, telephone and face to face visits. Healthy and Active Fund. This is a 3 year project, Early Years Wales have partnered with Welsh Gymnastics to deliver the Welsh Active Early Years Programme across Wales. The multi skills movement and play based activity programme will be delivered directly to children and parentslcarers at community based venues and outdoor spaces as well as delivering training to childcare practitioners on physical literacy for O-3 year olds. Donations Received to fund specific geographical areas as well as supporting training, resources and support funding for a child wilh Additional Leaming Needs. Moondance Foundation Early Years Wales worked in collaboration with the Moondance Foundation to facilitate the administration of grants in response to Covid. A £30.000 grant was received by Early Years Wales and was distributed in full to member settings using an application process agreed in advance with moondan￿. Early Years Wales would like to note their thanks to MOOndan￿ for the support to the early years sector through this funding. PACEY Cymru - a contribution to c(Hlelivery of funding. -30- 00￿¢￿> ¢£1 (D (D Ln o O ¢iJ O ￿ ¢5) O ¢5) m(N¢DOCO *Ln**¢DOCO CWIXJ0017)Or mU)rO*O¢J) GJ (D U) GJ (D O C (o(Dr w E CLCQCi(Juwiiu> LU￿z £00 E5 O)LU C TJ CL ¢JLLuE L>￿ CÉ U3u >LL>u InLL> LU￿z OOLnr oco* ￿¢0￿1￿) iJmc 000)¢J) *¢D* ¢5) (D 7J* LU￿z EARLYYEARS WALES 2018 TIA EARLY YEARS WALES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 27 Related party transartions There were no disclosable related party transactions during the year (2023- none). 28 Operating lease commitments At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases. which fall due as follows- 2024 2023 Within one year Be￿een and five years 39,993 32,312 41,345 51.391 72,305 92,736 29 Cash generated from operations 2024 2023 Deficit for the year (116,6491 (110,7311 Adjustments for.. Investment income recognised in statement of financial activities Gain on disposal of investments Fair value gains and losses on investments Amortisation and impaimient of intangible assets Depreciation and impaimient of tangible fixed assets (31.445) (3,274) (92.649) 132.3511 53.656 8.250 1,420 9,190 Movements in working Gapitsl.. Decreasel{inGreasel in debtors (Decreasellincrease in creditors Increase in deferred income 207,411 (54,3881 24,295 1190,3831 59,412 1,355 Cash absorbed by operations (57,509) 1209,3721 30 Analysis of changes in net funds The charity had no debt during the year.