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← Cymdeithas Mudiadau Gwirfoddol Ceredigion / Ceredigion Association Of Voluntary Organisations

2025-03-31-accounts

Impact Report 2024-2025 Cymdeithas Mudiadau CAiiO . CAVO of Voluntary Organisations Cefnogi Trydydd Sector Cymru Third Sector Support Woles

CAVO Impact Report 2024-2025

Foreward

Welcome to the 2024-2025 Annual Impact Report which captures the achievements of the

Ceredigion Association of Voluntary Organisations (CAVO) Team.

It is once again a pleasure to present CAVO's Annual Impact Report. We extend our thanks to everyone who has supported our work during the past year, to our Board of Trustees for their guidance and commitment and to our staff team for their enthusiasm and dedication.

CAVO are a Third Sector Support Wales (TSSW) delivery partner, a consortium of county voluntary councils (CVCs) and Wales Council for Voluntary Action (WCVA). TSSW’s collective ambitions and aspirations are reflected in our four pillars of activity:

volunteering, good governance, engagement and influencing and sustainable funding.

CAVO is committed to working positively with others and continue to collaborate on a number of key strategic partnerships across Ceredigion and West Wales including the Ceredigion Public Services Baord and the West Wales Regional Partnership Board.

Many thanks to our funding partners for their continued commitment which has enabled us to support the vital work of the third sector and volunteers in Ceredigion. Through this we were able to support and fund the inspirational work of voluntary community groups and volunteers across Ceredigion.

John L Jones, Chair of Trustees Hazel Lloyd Lubran, Chief Officer

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CAVO Impact Report 2024-2025

CAVO Staff 2024/2025

Chief Executive

Finance & Business Operations Manager

Engagement & Collaboration Manager

Support & Skills Manager Communications & Fundraising Officer Volunteering Officer

Supportive Communities Officer Valuing Volunteering Officer

Hazel Lloyd Lubran

Christine Glasson

Chesca Ross Teleri Davies Rebecca Kirby Trish Lewis

Callum Jones Ann-Marie Benson

CAVO Trustees 2024/2025

John Jones Chair Anne Pratt Vice-Chair William Morris Treasurer Dylan Wilson-Lewis Rhiannon Hanniford-Hanks Meirion Thomas (Since November 2024)

Independent Auditors: Bevan and Buckland Employment / Health & SAGE Safety Advice:

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CAVO Impact Report 2024-2025

Performance 2024/2025 Who we worked with: 106 376 268 Organisations Interactions with Attendees at networks, supported with direct third, public and partnerships, forums, information and advice private sectors events and training

Volunteering: 191 Volunteering Wales. New Volunteering opportunities created on 30 Volunteering Wales

Volunteers supported with volunteering and new volunteers registered on Volunteering Wales.

CAVO Grant Schemes:

£280,522 Funding distributed to third sector organisations via CAVO

76

Organisations supported through CAVO grant schemes

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CAVO Impact Report 2024-2025

G ~~ood Governance~~

Wellbeing Goals

This pillar of activity contributes to the following Wellbeing Goals:

A Wales of cohesive communities A resilient Wales A more equal Wales

Our Goal

How we help

Those involved in running third sector organisations effectively lead their organisations and maintain high standards of governance.

Information, news and up-dates through our websites, e-bulletins, blogs, meetings, networks and learning opportunities, including events on charity law, good governance and safeguarding. Bespoke information, guidance and learning for organisations and trustees on implementing good governance policies and practices. Specialist safeguarding information, advice, training and events.

Spotlight

Through the UK Governments Shared Prosperity Fund the CAVO Team worked with CWMPAS to engage with social enterprises across Ceredigion and encourge more enterprise in the Sector. In December a Start Something Good session was held to explore transport solutions.

Staff continue to work closely with colleagues in other support agencies including the Charity Commission, Cwmpas, CTA Wales and Antur Cymru. Several Groups have been supported to engage with the Charity Commission including Hen Ysgol Cross Inn and Lampeter Family Centre.

CAVO continue to develop the Ceredigion Connect platform as an online space for third sector groups, communities and volunteers to share information, learn and network.

A resource developed by Third Sector Support Wales, Whether you’re new to the third sector or want to take your skills to the next level, our free resources are designed to help you stay informed, improve your knowledge and connect with others.

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CAVO Impact Report 2024-2025

In ~~fluencing and~~ Engagement

Wellbeing Goals

This pillar of activity contributes to the following Wellbeing Goals –

A Resilient Wales, A Healthier Wales, A More Equal Wales.

Our Goal

Public policies and services are improved through the influence of third sector organisations (working with TSSW).

How we help

Information, news and up-dates on policy developments through our websites, e-bulletins, blogs, meetings, networks and events.

Spotlight

The CAVO Team continue to play an active role as a partner on the Ceredigion Public Services Board and it’s delivery groups including the Ceredigion Tackling Poverty Group and the Cardigan and Lampeter Wellbeing Groups.

Through the Cynnal y Cardi Partnership, CAVO have worked with Severn Wye Energy to audit energy usage at several community owned buildings and identified measures to reduce costs and increase efficiency.

The Welsh Government Regional Integration Fund has enabled the CAVO Team to work with colleagues at Ceredigion County Council to collaborate with a network of community anchor groups and hubs across Ceredigion to identify training and support needs to enable them to continue to develop crucial services within their communities. The CAVO Team have worked with communities to prevent ill health and improve people’s wellbeing through volunteering and community connection. Along with colleagues in Mentera and Ceredigion County Council, CAVO have helped to distribute funding to support access to food.

infoengine Infoengine, a free online directory of third sectorcommunity services, connected to Dewis Cymru.

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CAVO Impact Report 2024-2025

S ~~ustainable Funding~~

Wellbeing Goals

This pillar of activity contributes to the following Wellbeing Goals –

A prosperous Wales A Resilient Wales

Our Goal

Third sector services contribute to community wellbeing.

How we help

Information and resources on our websites, social media, learning programme and events, including regional events. Funding Wales, an online database of funding opportunities. Host digital opportunities to engage with funders. Bespoke guidance on funding bids and application processes. Administer the Youth Led Grant and the Caring Communities Innovation Scheme to distribute monies from the Regional Integration Fund (RIF), Welsh Government Warm Welcome Fund and Loneliness and Isolation Funding.

Involvement in the decision-making process for the Cynnal y Cardi panel, Cambrian Railway Partnership Grant and the Dr Dewi Davies Endowment Fund.

Spotlight

CAVO continue to work with partners to administer Grant Schemes and actively seek opportunities to grow the funds to support the third sector and communities. During 2024-25 we distributed over 150 grants across Ceredigion to support young volunteers, welcome spaces and age friendly schemes to name a few areas. Through the Multiply stream of the UK Shared Prosperity Fund, CAVO administered an investment fund to allow third sector groups to deliver activities to improve numeracy skills across the community.

The Ceredigion Funders Forum continues to meet to bring together key funders to network, share information and opportunities to collaborate.

Meet the Funder sessions were organisaed to give groups in Ceredigion direct access to staff from funders including Children in Need, Poscode Lottery and the National Churches Trust.

Funding Wales

Funding Wales, a FREE online Funding search tool, developed for community and voluntary groups in Wales.

Search through database containing hundreds of grants, awards and other forms of financial assistance from a variety of sources Link you in to guidance and support for Third Sector groups

To access the portal go to https://funding.cymru.

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CAVO Impact Report 2024-2025

V ~~olunteering~~ This pillar of activity contributes to the following Wellbeing Goals – Wellbeing ~~ik~~ A Wales of Cohesive Communities Goals A Wales of Vibrant Culture and thriving Welsh Language

Our Goal

Wales benefits and thrives because of volunteering.

How we help

Promote the national Volunteering Wales digital platform, a database of volunteering opportunities. Information, news and up-dates through our websites, e- bulletins, blogs, meetings, networks, events and learning opportunities. Bespoke advice to volunteers and organisations and facilitation of the Ceredigion Volunteer Organisers Network (CVON). Support people to support volunteers and share skills through the Ceredigion Connect platform.

Spotlight

The CAVO Team have continued to facilitate the Ceredigion Volunteer Organisers Network (CVON) to bring together those who support volunteers to share experiences and explore topics such as Tempo Timebanking, the DBS service and how to best use social media to support volunteer recruitment.

During the first week in June the CAVO Team organised a number of promotional events and activities to mark Volunteers Week which culminated in a Volunteer Awards Ceremony in Aberporth Village Hall to celebrate individuals that make a difference in communities.

CAVO staff continue to supported the Open University to develop their Volunteering Course and have worked with the JCP Team to deliver a series of well supported Volunteering and Skills Fairs across Ceredigion.

Volunteering Wales

Volunteering Wales is a digital portal that supports volunteer recruitment and placement for those wanting to volunteer and organisations that want to find volunteers. The portal also provides additional functions such as logging hours and email update of opportunities.

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CAVO Impact Report 2024-2025

Financial Summary

Income for 2024-2025

----- Start of picture text -----
Other Income
£45,386 (
Core Funding
£234,435 (
Grants For Distribution
£376,399 (
Projects Funding (other sources)
£260,261 (
----- End of picture text -----

Expenditure for 2024-2025 Governance & Support Costs £27,864 (

----- Start of picture text -----
Grants Distributed
Charitable Activities
£339,461 (
£399,205 (
----- End of picture text -----

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CAVO Impact Report 2024-2025

What Next?

Collaborate with Third Sector Managers and Trustees to ensure that they have opportunities to network, collaborate and grow.

Identify opportunities to grow our existing grant scheme to invest in the Third Sector and community activities.

Ensure that the third sector has access to data and tools to support the development of services and measure and their impact.

Create opportunities to enable more people to be active citizens and make a difference to their own lives and the lives of others.

Ensure that the third sector influences the work of local and regional Strategic Partnerships.

Promote the role of third sector groups in engaging with citizens across Ceredigion and reaching those in greatest need.

Support the third sector to generate income, reduce costs and safeguard their future.

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CAVO Impact Report 2024-2025

Membership List

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CAVO Bryndulais 67 Bridge Street Lampeter Ceredigion SA48 7AB

01570 423 232 gen@cavo.org.uk www.cavo.org.uk

CAVO wish to thank the funders who support our work and the work of the sector across Ceredigion, including Welsh Government, the Hywel Dda University Health Board and the UK Shared Prosperity Fund supported by Ceredigion County Council.

CAVO is a Registered Charity (1061364) and Company Limited by Guarantee (33323924)

REGISTERED COMPANY NUMBER: 03323924 (England and Wales) REGISTERED CHARITY NUMBER: 1061364

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION/CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS

45 High Street Haverfordwest Pembrokeshire SA61 2BP

Bevan Buckland LLP Chartered Accountants

CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION/CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Page
Report of the Trustees 1 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Statement of Financial Position 7
Statement of Cash Flows 8
Notes to the Statement of Cash Flows 9
Notes to the Financial Statements 10 to 26
Detailed Statement of Financial Activities 27 to 28

CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION/CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

CAVO, as the County Voluntary Council (CVC) for Ceredigion, works across four pillars of activity to support the third sector in Ceredigion -

We deliver our services in collaboration with key partners through -

Ensuring our work delivers our aim

CAVO's Business Plan is delivered by an annual Work Plan which is developed by trustees and staff to ensure that our future activities are in-line with our aims as a Charity.

Significant activities

Good governance

CAVO has a small but well established team of experienced staff to support groups to set up and manage projects, provide information on legal issues and new developments affecting the sector. Our work is delivered in collaboration with other specialist orgaisations.

Sustainable funding

CAVO staff have been influential in the administration and allocation of several key funds in Ceredigion including Welsh Government funding through the Ceredigion Youth Led Grants, Regional Integration Funding as members of the West Wales Regional Partnership Board and working with Ceredigion County Council colleagues to distribute funding to age friendly communities and community food projects. CAVO are also active members of the Cynnal y Cardi Partnership which distributed the UK Government Shared Prosperity Fund in Ceredigion.

Volunteering

The Volunteering Team promote volunteering and provide information, advice and support to help people chose the right volunteering opportunity and offer advice to organisations on how to recruit, retain and support volunteers. The team pro-actively encourages the use of the Volunteering Wales website to promote volunteering opportunities in Ceredigion.

Engagement & Influence

As the umbrella body for the third sector in Ceredigion, the team represents the voice of the sector on a number of key strategic partnerships, fora and planning groups locally & regionally, including the Ceredigion Public Services Board (PSB) and its Project Groups, along with the West Wales Regional Partnership Board and its relevant workstreams. Ceredigion third sector fora and briefing sessions are arranged to ensure that the sector is informed of developments and has an opportunity to engage in strategy, policy and service development.

Public benefit

The trustees have a duty to report on 'public benefit' by explaining the significant activities undertaken in order to carry out the aims for the public benefit, and achievements measured against those aims. In addition, the trustees will be required to confirm that they have had regard to the Charity Commission's guidance on public benefit.

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CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION/CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

ACHIEVEMENTS AND PERFORMANCE Charitable activities

A review of activities is available in a separate annual report, presented at the Annual General Meeting.

FINANCIAL REVIEW

Financial position

The results of the charitable company are shown in the Statement of Financial Activities on page 6.

UNRESTRICTED FUND

2025 2024
£ £
Net surplus/(deficit) reserves (Before transfers and pension) 113,597 27,196
Net surplus/(deficit) reserves (After transfers and pension) (209,879) 220,732
Actuarial gain/(loss) (included above) (320,000) 188,000
RESTRICTED FUND
2025 2024
Net (deficit)/surplus reserves (Before transfers) 63,271 (72,146)
Net (deficit)/surplus reserves (After transfers) 66,747 (77,682)

Investment policy and objectives

The trustees' investment powers are governed by the Memorandum and Articles of Association. The trustees have a policy of keeping any surplus as liquid funds in high interest-bearing short-term deposits, which can be accessed readily.

In July 2022 Trustees opted to open an account with the Flagstone Investment Platform to decrease the risk identified by the Trustees associated with holding balances which exceed the £85,000 FSCS compensation protection limit in one bank.

Reserves policy

The trustees aim to set aside reserves to provide financial stability and the means for the development of the charitable company's principal activity. Following consideration of the major risks the charitable company faces, a three tier policy on reserves has been established. This will establish reserves to meet short term changes, reserves to enable planning for growth and long term reserves to reduce the risks posed by large external changes in funding. The level of reserves required under the new policy is regularly reviewed and the trustees feel that in light of the current financial climate it is prudent to maintain reserves at their current level. The trustees are currently confident that the charitable company can meet contributions from projected future income.

Going concern

There are no material uncertainties about the charity's ability to continue as a going concern.

FUTURE PLANS

Details of future developments are available in a separate annual report, presented at the Annual General Meeting.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The organisation is a charitable company limited by guarantee, incorporated on 25 February 1997 and registered as a charity on 18 March 1997. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association.

Recruitment and appointment of new trustees

Members of the board of trustees, who are directors for the purpose of company law and trustees for the purpose of charity law, who served during the year and up to the date of this report, are set out below. The trustees are appointed by the members at the Annual General Meeting or otherwise appointed by the trustees where there is a vacancy. One third of the trustees retire at each Annual General Meeting by rotation. If willing to act, they can be reappointed.

Prior to each Annual General Meeting, member organisations are encouraged to nominate individuals for appointment. The Board may also appoint a person willing to act as a trustee to either fill a vacancy or as an additional trustee.

The board meets bi-monthly. A full time chief executive, appointed by the trustees, manages the day to day operations of the charity.

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CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION/CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT Induction and training of new trustees

New trustees receive a comprehensive induction pack and have the benefit of an induction session to brief them on their legal obligations under charity and company law, the content of which includes the Memorandum and Articles of Association, the committee and decision making process and business plan. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role and a training session feedback form has been devised so that information gathered at events can be passed on to all trustees.

Risk management

The trustees have conducted a review of the major risks to which the charitable company is exposed and systems have been established to mitigate those risks and enable regular reports to be produced so that the necessary steps can be taken to lessen those risks. Internal risks are minimised by the implementation of procedures for authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of the charitable company. These procedures are periodically reviewed to ensure that they still meet the needs of the charitable company.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

03323924 (England and Wales)

Registered Charity number 1061364

Registered office

Bryndulais 67 Bridge Street Lampeter Ceredigion SA48 7AB

Trustees

J L Jones - CAVO Chair W J Morris - Treasurer A C Pratt - Vice Chair D Wilson-Lewis Ms R Hanniford-Hanks M Thomas (appointed 27.11.24)

Company Secretary

H Lloyd Lubran

Independent Examiner

Bevan Buckland LLP Chartered Accountants 45 High Street Haverfordwest Pembrokeshire SA61 2BP

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CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION/CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

REFERENCE AND ADMINISTRATIVE DETAILS Bankers

CAF Cash Limited PO Box 289 West Malling Kent ME19 4TA

Scottish Widows 67 Morrison Street Edinburgh EH3 8YJ Virgin Money Jubilee House Gosforth Newcastle upon Tyne NE3 4PL

Investment Platform

Flagstone Group Ltd 1st Floor, Clarence House 26-27 Oxendon Street London SW1Y 4EL Approved by order of the board of trustees on 7 October 2025 and signed on its behalf by:

W J Morris - Treasurer - Trustee

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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION/CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS

Independent examiner's report to the trustees of CAVO ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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

Alun Evans FCA

Bevan Buckland LLP Chartered Accountants 45 High Street Haverfordwest Pembrokeshire SA61 2BP

21 October 2025

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CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION/CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

Notes
INCOME AND ENDOWMENTS FROM
Charitable activities
3
Grants receivable
Investment income
2
Other income
Total
EXPENDITURE ON
Charitable activities
4
Charitable activity
Grants payable
Defined benefit pension costs
Total
NET INCOME/(EXPENDITURE)
Transfers between funds
14
Other recognised gains/(losses)
Actuarial gains/(losses) on defined benefit
schemes
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
231,110
27,115
18,271
276,496
183,899
-
(21,000)
162,899
113,597
(3,476)
(320,000)
(209,879)
814,591
604,712		 Restricted
funds
£
645,902
-
-
645,902
582,631
-
-
582,631
63,271
3,476
-
66,747
779,544
846,291		 2025
Total
funds
£
877,012
27,115
18,271
922,398
766,530
-
(21,000)
745,530
176,868
-
(320,000)
(143,132)
1,594,135
1,451,003		 2024
Total
funds
£
514,751
24,293
34,633
573,677
360,195
268,432
(10,000)
618,627
(44,950)
-
188,000
143,050
1,451,085
1,594,135

The notes form part of these financial statements

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CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION/CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS

STATEMENT OF FINANCIAL POSITION 31 MARCH 2025

2025 2024
Unrestricted Restricted Total Total
funds funds funds funds
Notes £ £ £ £
FIXED ASSETS
Tangible assets 11 408 349,592 350,000 352,500
CURRENT ASSETS
Debtors 12 11,192 47,083 58,275 100,459
Cash at bank 605,269 451,029 1,056,298 895,882
616,461 498,112 1,114,573 996,341
CREDITORS
Amounts falling due within one year Amounts falling due within one year
13		 (12,157) (1,413) (13,570) (53,706)
NET CURRENT ASSETS 604,304 496,699 1,101,003 942,635
TOTAL ASSETS LESS CURRENT LIABILITIES TOTAL ASSETS LESS CURRENT LIABILITIES 604,712 846,291 1,451,003 1,295,135
PENSION ASSET 15 - - - 299,000
NET ASSETS 604,712 846,291 1,451,003 1,594,135
FUNDS 14
Unrestricted funds 604,712 814,591
Restricted funds 846,291 779,544
TOTAL FUNDS 1,451,003 1,594,135

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 7 October 2025 and were signed on its behalf by:

W J Morris - Treasurer - Trustee

The notes form part of these financial statements

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CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION/CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by/(used in) operating activities
Cash flows from investing activities
Interest received
Net cash provided by investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2025
£
133,301
133,301
27,115
27,115
160,416
895,882
1,056,298		 2024
£
(186,009)
(186,009)
24,293
24,293
(161,716)
1,057,598
895,882

The notes form part of these financial statements

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CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION/CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS

NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income/(expenditure) for the reporting period (as per the
Statement of Financial Activities)
Adjustments for:
Depreciation charges
Interest received
Decrease/(increase) in debtors
Decrease in creditors
Difference between pension charge and cash contributions
Net cash provided by/(used in) operations		 2025
£
176,868
2,500
(27,115)
42,184
(40,136)
(21,000)
133,301		 2024
£
(44,950)
2,500
(24,293)
(6,747)
(102,519)
(10,000)
(186,009)

2. ANALYSIS OF CHANGES IN NET FUNDS

Net cash
Cash at bank
Total		 At 1.4.24
£
895,882
895,882
895,882		 Cash flow
£
160,416
160,416
160,416		 At 31.3.25
£
1,056,298
1,056,298
1,056,298

The notes form part of these financial statements

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CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION/CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.

Income

Income is recognised when the Charity has entitlement to the funds, any performance conditions attached the the item (s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Where income has related expenditure (as with fundraising or contract income) the income and related expenditure are reported gross in the Statement of Financial activities.

Donations and grants are recognised when receivable. In the event that a donation is subject to fulfilling performance conditions before the Charity is entitled to the funds, the income is deferred and not recognised until i t is probable that the that those conditions will be fulfilled in the reporting period.

Interest on deposits held is included when receivable and the amount can be measured reliably by the Charity which is normally upon notification of the interest paid or by the bank.

Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of the resources.

Support costs are made up of administration and management, finance costs and governance costs. Governance costs are those costs incurred in connection with the compliance with constitutional and statutory requirements of the Charity.

Grants paid are recognised in the Statement of Financial Activities once approved for payment.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Allocation and apportionment of costs

The cost of overall direction and administration on each activity, comprising the salary and overhead costs of the central function, is apportioned to the activity on the basis of staff time or income as relevant.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided to write off the cost less estimated residual value of tangible fixed assets by equal instalments over their estimated useful economic lives as follows:

Freehold property - 1% on cost - Fixtures and fittings 20% straight line Computer equipment - 100% on cost

All fixed assets are held for continuing use in the charity's activities and are recorded at cost at the time of acquisition. Impairment reviews are carried out where necessary. The property was revalued in 2015 from £275,709 to £370,000.

Taxation

The company is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore meets the definition of a charitable company for UK corporation tax purposes.

Fund accounting

Unrestricted funds are incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds.

Page 10

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CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION/CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

1. ACCOUNTING POLICIES - continued

Fund accounting

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Expenditure which meets these criteria is charged to the fund, together with a fair allocation of management and support costs.

Designated funds are funds earmarked by the trustees for a particular purposes. They are not restricted and make up the unrestricted reserves.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The company operates a defined benefit scheme for its eligible employees as part of the Dyfed Local Authority Pension Fund. The assets of the scheme are held separately from those of the charity. Pension costs are assessed in accordance with actuarial advice and based on the most recent actuarial valuation of the scheme, which was last carried out on 31 March 2025. These costs are accounted for on the basis of charging the cost of providing pensions over the period during which the charity benefits from employees services. The scheme was closed to new employees in the year to 31 March 2017.

The pension cost for the year ending 31 March 2025 is based on the result of the actuarial valuation of the scheme as at 31 March 2025 using the assumptions as per note 15.

The contributions made in respect of the accounting period to 31 March 2025 amounted to £46,093 (25.05% of the gross pay of eligible member employees), (2024 £43,494). The agreed contributions until the next actuarial review of the scheme as at 31 March 2026 will be 23% per annum. In addition lump sum payments are being made annually to be applied to the past service deficit. These payments are as follows:

2017-2018 : £13,900 2018-2019 : £11,200 2019-2020 : £11,600 2020-2021: £12,000 2021-2022 £ 8,000 2022-2023 £6,200 2023-2024 £nil 2024-2025 £nil

An analysis of the fair value of the assets of the scheme, movement in the scheme and rate of return is disclosed in note 16. The pension scheme deficit is recognised in full on the balance sheet in accordance with FRS102.

In addition the charity has opened a defined contribution scheme for new employees, with Nest. Contributions made in the year amounted to £3,897 (2024 £2,815).

Debtors

Trade and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid net of any discounts due. Accrued income is included at best estimate of the amounts receivable at the balance sheet date.

Cash and cash equivalents

Cash and cash equivalents comprise cash in hand and demand deposits that are readily convertible to a known amount of cash and are subject to an insignificant risk to changes in value.

Creditors

Creditors are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any trade discounts due.

Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Going concern

The trustees have considered the financial performance of the Charity for the foreseeable future, in particular, the next 12 to 18 months and are confident that the Charity is a going concern.

Page 11

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CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION/CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

1. ACCOUNTING POLICIES - continued

Debtors

Current asset investments

Current asset investments comprise cash deposits held with banks with notice periods of greater than 90 days.

2. INVESTMENT INCOME

Deposit account interest
3.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Grants
Grants receivable
Grants received, included in the above, are as follows:
Welsh Gov't -Third Sector Support Wales Infrastructure Core Grant
Welsh Gov't Third Sector Support Wales Youth Led Grants Scheme
WCVA Youth Volunteering Grant
Hywel Dda UHB Public Health County Led Preventions
Welsh Gov't - Loneliness and Social Isolation Fund
Welsh Gov't Regional Investment Fund
Welsh Gov't - Warm Welcome Spaces
UK Gov't Shared Prosperity Fund - Valuing Voluneers
UK Gov't Shared Prosperity Fund - Boosting Energy Efficiency
UK Gov't Shared Prosperity Fund - Communities Count Multiply Programme
UK Gov't Shared Prosperity Fund - Catalyst for Care
Welsh Gov't Transformation Fund - Hywel Dda UHB Transformation on
Porth Gofal Heath and Care
Welsh Gov't Transformation Fund - Hywel Dda UHB Transformation Porth
Gofal Holding Funds
Welsh Gov't - Safeguarding Training Fund
Welsh Gov't - Storm Damage Fund
Ceredigion CC Direct Food Support
Ceredigion CC Age Friendly Grants
Royal Foundation
CCC RIF Catalyst for Care

All funding received during this financial year was from the Welsh Government.

4. CHARITABLE ACTIVITIES COSTS

Charitable activity Direct
Costs
£
399,205		 Grant
funding of
activities
(see note
5)
£
339,461		 Support
costs (see
note 6)
£
27,864		 Totals
£
766,530

Page 12

continued...

CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION/CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

5. GRANTS PAYABLE

Grants payable 2025
£
339,461		 2024
£
268,432

The charitable company has in the year administered a grants scheme funded through WCVA Youth Led Grants Scheme. The charity invite and assesses applications together with other interested parties and awards funding to projects which fulfil the providers' scheme rules. In addition, it has also administered a grants scheme as part of the Caring Communities Innovation Fund.

6. SUPPORT COSTS

6. SUPPORT COSTS
Management
£
Charitable activity 27,864
Support costs, included in the above, are as follows:
Management
2025 2024
Charitable Total
activity activities
£ £
Trustees' expenses 373 519
Insurance 2,957 2,588
Professional fees 7,521 4,421
Sundries 218 130
Other premises expenses 11,146 6,851
Heat and light 5,343 3,394
Governance 477 566
Bank charges 60 60
Investment charges (735) 1,181
AGM 504 84
Central costs recharged 22,660 8,458
Contribution to central costs (22,660) (8,458)
27,864 19,794
7. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
2025 2024
£ £
Depreciation - owned assets 2,500 2,500
Independent examination fee (including VAT) 4,914 4,680

Page 13

continued...

CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION/CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees' expenses

Trustees' expenses

2025 2024
£ £
373 519

There were no transactions with trustees other than the payment of trustee's travelling expenses at the agreed rates as detailed above. All trustees were paid expenses in the year.

9. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs		 2025
£
262,191
21,054
49,990		 2024
£
236,606
18,325
46,570
333,235 301,501

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

Direct charitable
Management and administration		 2025
5
3
8		 2024
5
3
8

No employees received emoluments in excess of £60,000.

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Charitable activities
Grants receivable
Investment income
Other income
Total
EXPENDITURE ON
Charitable activities
Charitable activity
Grants payable
Defined benefit pension costs
Total
NET INCOME/(EXPENDITURE)
Transfers between funds
Other recognised gains/(losses)
Actuarial gains on defined benefit schemes
Net movement in funds		 Unrestricted
funds
£
203,626
24,293
34,633		 Restricted
funds
£
311,125
-
-		 Total
funds
£
514,751
24,293
34,633
573,677
360,195
268,432
(10,000)
618,627
(44,950)
-
188,000
143,050
262,552
234,356
11,000
(10,000)
235,356
27,196
5,536
188,000
220,732		 311,125
125,839
257,432
-
383,271
(72,146)
(5,536)
-
(77,682)

Page 14

continued...

CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION/CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued

RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
11.
TANGIBLE FIXED ASSETS
COST
At 1 April 2024 and 31 March 2025
DEPRECIATION
At 1 April 2024
Charge for year
At 31 March 2025
NET BOOK VALUE
At 31 March 2025
At 31 March 2024		 Freehold
property
£
370,000
17,500
2,500
20,000
350,000
352,500		 Unrestricted
funds
£
593,859
814,591
Fixtures
and
fittings
£
67,966
67,966
-
67,966
-
-		 Restricted
funds
£
857,226
779,544
Computer
equipment
£
20,510
20,510
-
20,510
-
-		 Total
funds
£
1,451,085
1,594,135
Totals
£
458,476
105,976
2,500
108,476
350,000
352,500

The property was revalued in 2015 from £275,709 to £370,000, originally purchased through a National Lottery Charities Board grant in 2000 and can not be sold without the prior written consent of the Lottery Board.The trustees confirmed that a valuation of the property will take place in the year ended 31 March 2026.

12.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Accounts receivable
Other debtors
Prepayments and accrued income
13.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Accounts payable
Other creditors
Accruals and deferred income		 2025
£
47,895
6,776
3,604
58,275
2025
£
8,832
4,738
-
13,570		 2024
£
85,288
10,607
4,564
100,459
2024
£
10,988
4,608
38,110
53,706

Page 15

continued...

CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION/CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

14. MOVEMENT IN FUNDS

Unrestricted funds
General Fund
Designated Funds
Welsh Government Volunteering 21
Volunteer Bureau
Restricted funds
Property Fund
Youth Led Grant Fund
Integrated Care Fund
Revaluation Reserve
Primary Care Screening
Hywel Dda UHB Public Health County Led
Prevention
Welsh Gov't Transformation Fund -
Community Hubs
Welsh Gov't Winter Pressures Grant
Welsh Gov't Transformation Fund -
Regional Investment Cardigan Town
Welsh Gov't Regional Integration Fund -
Volunteering
Welsh Gov't Transformation Fund
Welsh Gov't Warm Spaces
Welsh Gov't Loneliness and Social
Isolation Fund
Welsh Gov't Transformation Fund - Hywel
dda UHB Porth Gofal Holding Funds
UK Gov't Shared Prosperity Fund - Valuing
Volunteers
UK Gov't Boosting Energy Efficiency
UK Gov't Shared Prosperity Fund -
Communities Count Multiply Programme
UK Gov't Shared Prosperity Fund - Catalyst
for Care
Welsh Gov't Transformation Fund Hywel
Dda UHB Porth Gofal Health & Care
Royal Foundation Fund
CCC Age Friendly Grants
CCC Direct Food & Capital Funds &
Mentera
WCVA Safeguarding Training
WCVA Storm Damage Funding
CCC RIF Catalyst for Care
Welsh Gov't Transformation Fund -
Regional Investment Lampteter Town
TOTAL FUNDS		 At 1.4.24
£
621,047
131,345
62,199
-
814,591
267,801
5,449
108,331
94,291
2,750
53,139
34
4,714
20,672
77,596
66,700
8,053
29,766
17,464
-
-
-
-
22,784
-
-
-
-
-
-
-
779,544
1,594,135		 Net
movement
in funds
£
(154,237)
-
(5,432)
(46,734)
(206,403)
-
(5,329)
(42,083)
-
(2,750)
15,726
(34)
(4,379)
-
53,740
-
866
(1,000)
(7,371)
(2,017)
(28)
(1,443)
(108)
-
22,125
334
11,482
5,917
15,000
4,623
-
63,271
(143,132)		 Transfers
between
funds
£
(50,210)
-
-
46,734
(3,476)
-
(120)
335
-
-
-
-
(335)
-
(36,769)
-
-
-
-
2,017
28
1,443
108
-
-
-
-
-
-
-
36,769
3,476
-		 At
31.3.25
£
416,600
131,345
56,767
-
604,712
267,801
-
66,583
94,291
-
68,865
-
-
20,672
94,567
66,700
8,919
28,766
10,093
-
-
-
-
22,784
22,125
334
11,482
5,917
15,000
4,623
36,769
846,291
1,451,003

Page 16

continued...

CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION/CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

14. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General Fund
Welsh Government Volunteering 21
Volunteer Bureau
Restricted funds
Youth Led Grant Fund
Integrated Care Fund
Primary Care Screening
Hywel Dda UHB Public Health County Led
Prevention
Welsh Gov't Transformation Fund -
Community Hubs
Welsh Gov't Winter Pressures Grant
Welsh Gov't Regional Integration Fund -
Volunteering
Welsh Gov't Warm Spaces
Welsh Gov't Loneliness and Social
Isolation Fund
Welsh Gov't Transformation Fund - Hywel
dda UHB Porth Gofal Holding Funds
UK Gov't Shared Prosperity Fund - Valuing
Volunteers
UK Gov't Boosting Energy Efficiency
UK Gov't Shared Prosperity Fund -
Communities Count Multiply Programme
UK Gov't Shared Prosperity Fund - Catalyst
for Care
Royal Foundation Fund
CCC Age Friendly Grants
CCC Direct Food & Capital Funds &
Mentera
WCVA Safeguarding Training
WCVA Storm Damage Funding
CCC RIF Catalyst for Care
TOTAL FUNDS		 Incoming
resources
£
276,496
-
-
276,496
6,650
-
-
32,500
-
-
133,110
26,141
-
-
59,871
11,576
167,813
74,547
22,125
9,000
71,652
5,917
15,000
10,000
645,902
922,398		 Resources
expended
£
(110,733)
(5,432)
(46,734)
(162,899)
(11,979)
(42,083)
(2,750)
(16,774)
(34)
(4,379)
(79,370)
(25,275)
(1,000)
(7,371)
(61,888)
(11,604)
(169,256)
(74,655)
-
(8,666)
(60,170)
-
-
(5,377)
(582,631)
(745,530)		 Gains and
Movement
losses
in funds
£
£
(320,000)
(154,237)
-
(5,432)
-
(46,734)
(320,000)
(206,403)
-
(5,329)
-
(42,083)
-
(2,750)
-
15,726
-
(34)
-
(4,379)
-
53,740
-
866
-
(1,000)
-
(7,371)
-
(2,017)
-
(28)
-
(1,443)
-
(108)
-
22,125
-
334
-
11,482
-
5,917
-
15,000
-
4,623
-
63,271
(320,000)
(143,132)

Page 17

continued...

CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION/CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

14. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General Fund
Designated Funds
Volunteer Centre
Welsh Government Volunteering 21
Restricted funds
Property Fund
Youth Led Grant Fund
Integrated Care Fund
Revaluation Reserve
Primary Care Screening
Hywel Dda UHB Public Health County Led
Prevention
Welsh Gov't Transformation Fund -
Community Hubs
Welsh Gov't Winter Pressures Grant
Welsh Gov't Transformation Fund -
Regional Investment Cardigan Town
Welsh Gov't Regional Integration Fund -
Volunteering
Hywel Dda UHB Social Prescribing
Welsh Gov't Transformation Fund
Welsh Gov't Warm Spaces
Welsh Gov't Loneliness and Social
Isolation Fund
Welsh Gov't Transformation Fund - Hywel
dda UHB Porth Gofal Holding Funds
UK Gov't Shared Prosperity Fund - Valuing
Volunteers
UK Gov't Shared Prosperity Fund -
Communities Count Multiply Programme
UK Gov't Shared Prosperity Fund - Catalyst
for Care
Welsh Gov't Transformation Fund Hywel
Dda UHB Porth Gofal Health & Care
TOTAL FUNDS		 At 1.4.23
£
388,220
120,345
-
85,294
593,859
267,801
-
243,218
94,291
11,500
51,376
21,061
20,850
18,517
3,750
5,650
66,700
8,053
21,777
22,682
-
-
-
-
857,226
1,451,085		 Net
movement
in funds
£
281,666
-
(43,375)
(23,095)
215,196
-
5,449
(124,240)
-
(8,250)
1,263
(1,102)
(16,136)
-
36,769
-
-
-
8,324
3,107
(26)
15
(103)
22,784
(72,146)
143,050		 Transfers
between
funds
£
(48,839)
11,000
43,375
-
5,536
-
-
(10,647)
-
(500)
500
(19,925)
-
2,155
37,077
(5,650)
-
-
(335)
(8,325)
26
(15)
103
-
(5,536)
-		 At
31.3.24
£
621,047
131,345
-
62,199
814,591
267,801
5,449
108,331
94,291
2,750
53,139
34
4,714
20,672
77,596
-
66,700
8,053
29,766
17,464
-
-
-
22,784
779,544
1,594,135

Page 18

continued...

CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION/CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

14. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General Fund
Volunteer Centre
Welsh Government Volunteering 21
Restricted funds
Youth Led Grant Fund
Integrated Care Fund
Primary Care Screening
Hywel Dda UHB Public Health County Led
Prevention
Welsh Gov't Transformation Fund -
Community Hubs
Welsh Gov't Winter Pressures Grant
Welsh Gov't Regional Integration Fund -
Volunteering
Welsh Gov't Loneliness and Social
Isolation Fund
Welsh Gov't Transformation Fund - Hywel
dda UHB Porth Gofal Holding Funds
UK Gov't Shared Prosperity Fund - Valuing
Volunteers
UK Gov't Boosting Energy Efficiency
UK Gov't Shared Prosperity Fund -
Communities Count Multiply Programme
UK Gov't Shared Prosperity Fund - Catalyst
for Care
Welsh Gov't Transformation Fund Hywel
Dda UHB Porth Gofal Health & Care
TOTAL FUNDS		 Incoming
resources
£
262,552
-
-
262,552
6,650
-
-
26,950
-
-
81,250
20,454
93,681
30,584
7,074
2,300
8,303
33,879
311,125
573,677		 Resources
expended
£
(168,886)
(43,375)
(23,095)
(235,356)
(1,201)
(124,240)
(8,250)
(25,687)
(1,102)
(16,136)
(44,481)
(12,130)
(90,574)
(30,610)
(7,074)
(2,285)
(8,406)
(11,095)
(383,271)
(618,627)		 Gains and
Movement
losses
in funds
£
£
188,000
281,666
-
(43,375)
-
(23,095)
188,000
215,196
-
5,449
-
(124,240)
-
(8,250)
-
1,263
-
(1,102)
-
(16,136)
-
36,769
-
8,324
-
3,107
-
(26)
-
-
-
15
-
(103)
-
22,784
-
(72,146)
188,000
143,050

Page 19

continued...

CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION/CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

14. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General Fund
Designated Funds
Volunteer Centre
Welsh Government Volunteering 21
Volunteer Bureau
Restricted funds
Property Fund
Youth Led Grant Fund
Integrated Care Fund
Revaluation Reserve
Primary Care Screening
Hywel Dda UHB Public Health County Led
Prevention
Welsh Gov't Transformation Fund -
Community Hubs
Welsh Gov't Winter Pressures Grant
Welsh Gov't Transformation Fund -
Regional Investment Cardigan Town
Welsh Gov't Regional Integration Fund -
Volunteering
Hywel Dda UHB Social Prescribing
Welsh Gov't Transformation Fund
Welsh Gov't Warm Spaces
Welsh Gov't Loneliness and Social
Isolation Fund
Welsh Gov't Transformation Fund - Hywel
dda UHB Porth Gofal Holding Funds
UK Gov't Shared Prosperity Fund - Valuing
Volunteers
UK Gov't Boosting Energy Efficiency
UK Gov't Shared Prosperity Fund -
Communities Count Multiply Programme
UK Gov't Shared Prosperity Fund - Catalyst
for Care
Welsh Gov't Transformation Fund Hywel
Dda UHB Porth Gofal Health & Care
Royal Foundation Fund
CCC Age Friendly Grants
CCC Direct Food & Capital Funds &
Mentera
WCVA Safeguarding Training
WCVA Storm Damage Funding
CCC RIF Catalyst for Care
Welsh Gov't Transformation Fund -
Regional Investment Lampteter Town
TOTAL FUNDS		 At 1.4.23
£
388,220
120,345
-
85,294
-
593,859
267,801
-
243,218
94,291
11,500
51,376
21,061
20,850
18,517
3,750
5,650
66,700
8,053
21,777
22,682
-
-
-
-
-
-
-
-
-
-
-
-
857,226
1,451,085		 Net
movement
in funds
£
127,429
-
(43,375)
(28,527)
(46,734)
8,793
-
120
(166,323)
-
(11,000)
16,989
(1,136)
(20,515)
-
90,509
-
-
866
7,324
(4,264)
(2,043)
(28)
(1,428)
(211)
22,784
22,125
334
11,482
5,917
15,000
4,623
-
(8,875)
(82)		 Transfers
between
funds
£
(99,049)
11,000
43,375
-
46,734
2,060
-
(120)
(10,312)
-
(500)
500
(19,925)
(335)
2,155
308
(5,650)
-
-
(335)
(8,325)
2,043
28
1,428
211
-
-
-
-
-
-
-
36,769
(2,060)
-		 At
31.3.25
£
416,600
131,345
-
56,767
-
604,712
267,801
-
66,583
94,291
-
68,865
-
-
20,672
94,567
-
66,700
8,919
28,766
10,093
-
-
-
-
22,784
22,125
334
11,482
5,917
15,000
4,623
36,769
846,291
1,451,003

Page 20

continued...

CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION/CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

14. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming
resources
£
Unrestricted funds
General Fund
539,048
Volunteer Centre
-
Welsh Government Volunteering 21
-
Volunteer Bureau
-
539,048
Restricted funds
Youth Led Grant Fund
13,300
Integrated Care Fund
-
Primary Care Screening
-
Hywel Dda UHB Public Health County Led
Prevention
59,450
Welsh Gov't Transformation Fund -
Community Hubs
-
Welsh Gov't Winter Pressures Grant
-
Welsh Gov't Regional Integration Fund -
Volunteering
214,360
Welsh Gov't Warm Spaces
26,141
Welsh Gov't Loneliness and Social
Isolation Fund
20,454
Welsh Gov't Transformation Fund - Hywel
dda UHB Porth Gofal Holding Funds
93,681
UK Gov't Shared Prosperity Fund - Valuing
Volunteers
90,455
UK Gov't Boosting Energy Efficiency
18,650
UK Gov't Shared Prosperity Fund -
Communities Count Multiply Programme
170,113
UK Gov't Shared Prosperity Fund - Catalyst
for Care
82,850
Welsh Gov't Transformation Fund Hywel
Dda UHB Porth Gofal Health & Care
33,879
Royal Foundation Fund
22,125
CCC Age Friendly Grants
9,000
CCC Direct Food & Capital Funds &
Mentera
71,652
WCVA Safeguarding Training
5,917
WCVA Storm Damage Funding
15,000
CCC RIF Catalyst for Care
10,000
957,027
TOTAL FUNDS
1,496,075
(		 Resources
expended
£
(279,619)
(43,375)
(28,527)
(46,734)
(398,255)
(13,180)
(166,323)
(11,000)
(42,461)
(1,136)
(20,515)
(123,851)
(25,275)
(13,130)
(97,945)
(92,498)
(18,678)
(171,541)
(83,061)
(11,095)
-
(8,666)
(60,170)
-
-
(5,377)
(965,902)
1,364,157)		 Gains and
Movement
losses
in funds
£
£
(132,000)
127,429
-
(43,375)
-
(28,527)
-
(46,734)
(132,000)
8,793
-
120
-
(166,323)
-
(11,000)
-
16,989
-
(1,136)
-
(20,515)
-
90,509
-
866
-
7,324
-
(4,264)
-
(2,043)
-
(28)
-
(1,428)
-
(211)
-
22,784
-
22,125
-
334
-
11,482
-
5,917
-
15,000
-
4,623
-
(8,875)
(132,000)
(82)

Page 21

continued...

CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION/CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

14. MOVEMENT IN FUNDS - continued

RESERVES
Restricted funds
Project funds
Revaluation reserve
Total restricted funds
Unrestricted funds
General reserves
Pension fund
Designated fund
Total funds
DESIGNATED RESERVES
Designated staff contingency fund
Designated office premises fund
Designated IT development fund
Designated Galluogi 3/Enable 3 fund		 2024
685,253
94,291
779,544
384,246
299,000
131,345
1,594,135
2024
75,000
28,269
23,076
5,000
131,345		 Movement
66,747
-
66,867
89,121
(299,000)
-
(143,132)
Movement
-
-
-
-
-		 2025
752,000
94,291
846,291
473,367
-
131,345
1,451,003
2025
75,000
28,269
23,076
5,000
131,345

PURPOSE OF RESTRICTED FUNDS

Property Fund

This fund relates to the purchase of office premises for the charity in 2001, which was funded by the National Lottery Community Fund with a grant of £284,414. This fund is retained as a restricted fund under the terms of the grant, which state that the building cannot be sold for 80 years from the date of the grant. In the opinion of the trustees, it is reasonable to set this fund against the pension liability for the purpose of calculating free reserves, as in the very remote likelihood of the pension liability crystallising, it should prove possible to realise the property fund to meet it.

Integrated Care Fund

Administered by the seven regional partnership boards established under the Social Services and Wellbeing (Wales) Act 2014, this fund helps health boards and partners to work together to support:

The fund helps support older people to maintain their independence and remain at home, avoiding unnecessary admissions to hospital or residential care and delays when someone is due to be discharged from care.

Revaluation Reserve

This reserve represents the increase in the value of the freehold property when it was revalued in 2015 from £275,709 to £370,000.

Hywel Dda UHB Public Health County Led Prevention Funding

Develop resources and support individuals, communities and third sector groups to exchange skills, resources and knowledge with a focus on the 5 Ways to Wellbeing, tackling hardship and keeping warm and well using the Connect Ceredigion tool.

Welsh Government Transformation Fund - Regional Investment Cardigan Town

The West Wales Regional Partnership Boards programme to deliver change to meet the priorities of the Welsh Governments "A Healthier Wales". This fund was established to enable the Third Sector to develop and deliver services to meet identified gaps in health and care support in Cardigan.

Welsh Government Regional Integration Fund - Volunteering

This project is funded by the Health and Social Care Regional Integration Fund (the RIF), which supports Regional Partnership Boards to provide a renewed focus on community based care, emotional health and well-being, supporting families to stay together safely, care experienced children, home from hospital services and accommodation based solutions.

Page 22

continued...

CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION/CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

14. MOVEMENT IN FUNDS - continued

Welsh Government Transformation Fund

The West Wales Regional Partnership Board programme to deliver change to meet the priorities outlined in the Welsh Governments "A Healthier Wales" Strategy. CAVO is a key delivery partner for the "Creating Connection for All" priority action which aims to incentivise active citizenship, based on an intergenerational approach that fosters and nurtures connections to alleviate loneliness and isolation prevalent in many of our communities..

Welsh Government Warm Spaces

This fund represents monies provided to assist with the opening up of 'warm hubs'. The methodology behind this was to welcome people struggling with the rising cost of living and to help local organisations set up spaces for local people to access.

Welsh Government loneliness and Social Isolation Fund

Funding from Welsh Government to distribute as grants to build the capability and sustainability of front line grass roots voluntary and community organisations in Ceredigion that bring people of all ages together and help them build social connections.

Welsh Government Transformation Fund - Hywel Dda UHB Porth Gofal

The West Wales Regional Partnership Boards programme to deliver change to meet the priorities of the Welsh Governments "A Healthier Wales". This fund was established to enable the Third Sector to develop and deliver services to meet identified gaps in health and care support in Cardigan.

Welsh Government Transformation Fund - Hywel Dda UHB Porth Gofal - Health and Care

The West Wales Regional Partnership Board programme to deliver change to meet the priorities outlined in the Welsh Governments “A Healthier Wales” Strategy. This project was to explore opportunities for the Third Sector to be involved in decision making processes and support packages

Royal Foundation Fund

The Royal Foundation Grant was provided to support communities to develop opportunities to learn, connect and grow green spaces.

Ceredigion County Council Age Friendly Fund

This fund was provided to fund actions to create Age Friendly Communities that enable people to age well and live a good later life.

Ceredigion County Council Direct Food & Capital Funds

This money was provided to fund projects aimed at people with Protected Characteristics, that align to the 6 Key Issues of the Partneriaeth Bwyd Ceredigion.

Mentera Food Grant - - capital funding to support community food projects that support the priorities of the Partneriaeth Bwyd Ceredigion

TSSW Safeguarding grant fund

As part of the wider uplift to the TSSW Safeguarding service in 24/25, funding was assigned to CAVO to deliver safeguarding activities to the Third Sector in Ceredigion.

TSSW Storm Damage Fund

This fund was provided to support communities affected by Storm Darragh and invest in preparedness measures.

Ceredigion County Council RIF Catalyst for Care Fund

The purpose of this fund is to develop social enterprises and enterprising approaches in the third sector to support the health and care of people in Ceredigion.

Welsh Government Transformation Fund - Regional Investment Lampeter Town

The West Wales Regional Partnership Boards programme to deliver change to meet the priorities of the Welsh Governments "A Healthier Wales". This fund was established to enable the Third Sector to develop and deliver services to meet identified gaps in health and care support in Lampeter..

Page 23

continued...

CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION/CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

14. MOVEMENT IN FUNDS - continued

PURPOSE OF DESIGNATED FUNDS

Designated Staff Contingency Fund

This fund has been designated to meet potential future costs such as redundancy and unexpected increases in the rate of pension contributions.

Designated Office Premises and Furniture Replacement Fund

This fund has been designated by the trustees to assist with the refurbishment, renovation and maintenance of the office building and replacement of furniture and equipment as required.

Designated IT Development Fund

This fund has been designated to enable CAVO to maintain IT systems at the consistent high standard required to support the charity's activities.

Designated Galluogi 3/Enable 3 Fund

This fund has been designated to provide start up support to a new regional entity established with PAVS & CAVS to support our work with volunteers and the third sector across West Wales.

15. EMPLOYEE BENEFIT OBLIGATIONS

Defined benefit scheme

The company operates a defined benefit scheme in the UK. A full actuarial valuation was carried out at 31 March 2025.

The amounts recognised in the Statement of Financial Activities are as follows:

Current service cost
Net interest from net defined benefit
asset/liability
Past service cost
Administration expenses
Actual return on plan assets		 Defined benefit
pension plans
2025
2024
£
£
39,000
37,000
86,000
83,000
-
-
1,000
1,000
126,000
121,000
49,000
200,000

Changes in the present value of the defined benefit obligation are as follows:

Opening defined benefit obligation
Current service cost
Contributions by scheme participants
Interest cost
Loss/(gain) on assumptions
Benefits paid
Impact of asset ceiling		 Defined benefit
pension plans
2025
2024
£
£
1,751,000
1,724,000
39,000
37,000
12,000
11,000
86,000
83,000
(275,000)
(75,000)
(40,000)
(29,000)
544,000
-
2,117,000
1,751,000

Page 24

continued...

CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION/CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

15. EMPLOYEE BENEFIT OBLIGATIONS - continued

Changes in the fair value of scheme assets are as follows:

Opening fair value of scheme assets
Administration expenses
Contributions by employer
Contributions by scheme participants
Benefits paid
Interest on plan assets
Remeasurements (assets)		 Defined benefit
pension plans
2025
2024
£
£
2,050,000
1,825,000
(1,000)
(1,000)
46,000
43,000
12,000
11,000
(40,000)
(29,000)
101,000
88,000
(51,000)
113,000
2,117,000
2,050,000		 Defined benefit
pension plans
2025
2024
£
£
2,050,000
1,825,000
(1,000)
(1,000)
46,000
43,000
12,000
11,000
(40,000)
(29,000)
101,000
88,000
(51,000)
113,000
2,117,000
2,050,000
2,050,000

The amounts recognised in other recognised gains and losses are as follows:

Impact of asset ceiling
Actuarial gains/(losses)		 Defined benefit
pension plans
2025
2024
£
£
(544,000)
-
224,000
188,000
(320,000)
188,000		 Defined benefit
pension plans
2025
2024
£
£
(544,000)
-
224,000
188,000
(320,000)
188,000
188,000

The major categories of scheme assets as amounts of total scheme assets are as follows:

Equities
Other bonds
Property
Cash liquidity
Other		 Defined benefit
pension plans
2025
2024
£
£
1,535,000
1,492,000
195,000
193,000
220,000
252,000
19,000
10,000
148,000
103,000
2,117,000
2,050,000		 Defined benefit
pension plans
2025
2024
£
£
1,535,000
1,492,000
195,000
193,000
220,000
252,000
19,000
10,000
148,000
103,000
2,117,000
2,050,000
2,050,000

Principal actuarial assumptions at the Statement of Financial Position date (expressed as weighted averages):

2025 2024
Discount rate 5.90% 4.90%
Future salary increases 4.10% 4.10%
Future pension increases 2.70% 2.70%
CPI inflation 2.60% 2.60%

The contributions made in respect of the accounting period to 31 March 2025 amounted to £46,093 (2024 £44,494) of which nothing was outstanding at the year end.

Defined contribution scheme

The charity has opened a defined contribution scheme for new employees. The assets of the scheme are held in a Nest independently managed scheme. The costs charged represent contributions made during the year and amounted to £3,897 (2024 £2,815). £nil was outstanding at 31 March 2025 (2024 £480).

Page 25

continued...

CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION/CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

16. CONTINGENT LIABILITIES

There were no contingent liabilities as at 31 March 2025 (2024: Nil).

17. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2025.

18. MEMBERS' LIABILITY

Members of the charitable company guarantee to contribute an amount not exceeding £1 to the assets of the company in the event of a winding up.

Page 26

CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION/CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted
Restricted
funds
funds
£
£
INCOME AND ENDOWMENTS
Investment income
Deposit account interest
27,115
-
Charitable activities
Grants
231,110
645,902
Other income
Income generation
18,271
-
Management fees
-
-
18,271
-
Total incoming resources
276,496
645,902
EXPENDITURE
Charitable activities
Wages
111,776
150,415
Social security
6,109
14,945
Pensions
47,483
2,507
Telephone
1,883
-
Postage, printing, stationery
282
-
Travel and subsistence
1,787
3,811
Training
400
50
Subscriptions and affiliations
609
-
Advertising and promotion
256
18,052
Computer maintenance and software
5,389
52
Recruitment
-
-
Timebanking project
-
-
SPF Investors in volunteers
-
-
SPF C4Care - CWMPAS
-
29,630
SPF RIF project equipment
-
1,269
Depreciation of property
2,500
-
Grants to organisations
1,725
337,736
180,199
558,467
Defined benefit pension costs
Interest on pension scheme liabilities
(21,000)
-
Support costs
Management
Trustees' expenses
319
54
Insurance
2,957
-
Professional fees
6,021
1,500
Sundries
68
150
Other premises expenses
11,146
-
Heat and light
5,343
-
Governance
477
-
Bank charges
60
-
Investment charges
(735)
-
AGM
504
-
Central costs recharged
200
22,460
Carried forward
26,360
24,164		 2025
Total
funds
£
27,115
877,012
18,271
-
18,271
922,398
262,191
21,054
49,990
1,883
282
5,598
450
609
18,308
5,441
-
-
-
29,630
1,269
2,500
339,461
738,666
(21,000)
373
2,957
7,521
218
11,146
5,343
477
60
(735)
504
22,660
50,524		 2024
Total
funds
£
24,293
514,751
17,918
16,715
34,633
573,677
236,606
18,325
46,570
1,654
315
3,905
1,057
1,355
986
14,160
22
9,058
3,888
-
-
2,500
268,432
608,833
(10,000)
519
2,588
4,421
130
6,851
3,394
566
60
1,181
84
8,458
28,252

This page does not form part of the statutory financial statements

Page 27

CYMDEITHAS MUDIADAU GWIRFODDOL CEREDIGION/CEREDIGION ASSOCIATION OF VOLUNTARY ORGANISATIONS

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted
Restricted
funds
funds
£
£
Management
Brought forward
26,360
24,164
Contribution to central costs
(22,660)
-
3,700
24,164
Total resources expended
162,899
582,631
Net (expenditure)/income
113,597
63,271		 2025
Total
funds
£
50,524
(22,660)
27,864
745,530
176,868		 2024
Total
funds
£
28,252
(8,458)
19,794
618,627
(44,950)

This page does not form part of the statutory financial statements

Page 28

INDEPENDEMt EXAMINER'5 REPORT TO THE TRUSTEES OF CyuDE￿ HAS MVDIADAU GWIRFODDOL CEREDIG1141CEREDICJ(4 AS5(tIATION OF VIKUNTARY ORGANIsA￿oN5 h>erKlent exarnin￿$ rep￿rt to the twustees ofCAVO fthe Cownyl I rermyt lOtr￿ th¥ty tnjstees ￿ rty the atoxmts Of￿ Ccw fry thè 31 Marth 2025. ResponsibllitiÈS and basis of rewrt As chtys trustees ofthe laKI a150 Tts Orecknr5 fcff Ihe purFK15es c4 C(￿￿￿￿ lawl yvu arB resputh f re myself Ihat ￿ atcthnls of thÈ C(xnrtsny è rewirèl k) be urKlÈr Part 16 of Ihe Ad and ¥e dwji￿e for iTvJepvKknt examinatson. I repLYI In Tespwl of my eyamnakn d yout dwty's as carrd cxjt undw Secton 145 of CFk4nbÈs Act 2011 I'￿ 2011 Act'l. In carwro my eLwniiatKffi I kve fokFed tl"[ect￿ given by Ihe Charty CornmiSsK￿ ur¥J8f 14451 Ibl ofthe 2011 ACL hmlependent exarninerfs ststement &ntÈ your th2rty's gross Intt>mÈ exceeded £250.(m y(xJr examinu nxst be a nnknr ol a listed W. l ￿ confifm Ihat l am qualtfied ￿￿ertake the eXa￿nall￿ of the In5tibJ ol (￿artered in Engl￿ and Waes. L8 ￿}e ofthe ltsted trx)thes. ex￿Inati(￿ gr￿r￿j rne cause to beheve." accounfr.ry recoryjs were n(rt kept in resp￿1 Ll ihe Corn￿Y as wured by Seckn 3e6 ofihe 2c￿6 Acf. or the 2cccKJnL8 th) Th)t acc￿d with records." or the acc(yJnts do tM)t c¢)rTyty requittsyn￿ts of Secbw 3% of the Act ott￿[ lh￿ any requiren￿l thal Ihe acccAJnL8 grie a Inje far is a matter c￿￿thred as pari of Indepermjent eXanit￿ti￿.. or the act￿nts have not been prepared in ￿c￿da￿e the ol the slate￿nt frf Rec£YllnEnded Prathce accwntry aTrJ reFKwThr¥J by chanbe5 laWiL31Ie lo d￿rit￿5 pTeparY¥J Iheir accounts in ￿1h FIrkqnC￿ RerMybroJ StsTrt¥d apr￿￿￿e in the UK and R¥)Ubl￿ of Ireland IFRS 10211. un E￿ar￿ FCA BuLknd LLP Chartered AcccKJntarts 45 Huh Street verfordwest Pembr(esh"r8 SA612BP 21 OctrA)er 2025