COMPANY REGISTRATION NUMBER: 02239398
CHARITY REGISTRATION NUMBER: 1062140
Wales Quality Centre
Company Limited by Guarantee
Unaudited Financial Statements
30 June 2024
CARSTON ETL
Chartered accountanls
1 st Floor, Tudor House
16 Cathedral Road
Cardiff
CF119LJ

Wales Quality Centre
Company Limited by Guarantee
Flnancial Statements
Year ended 30 June 2024
Page
Trustees, annual report (incorporating the director's report)
Independent examinerfs report to the trustees
statement of financial activities (including income and
expenditure account)
Stalement of financial position
Notes to the financial statements

Wales Quality Centre
Company Limited by Guarantea
Trustees. Annual Report (Incorporating the Director's Raport)
Year ended 30 June 2024
The twstees, who are also the directors for the purposes of company law. present their report and the
unaudited financial statements of the charity for the year ended 30 June 2024.
REFERENCE AND ADMINISTRATIVE DETAILS
Reglstered charlty namg
Wales Quality Centre
Charlty reglstratlon number
1062140
Company rogistratlon number 2239398
Prlnclpal offlce and registered Waterton Centre
offlco
Waterton Industrial Estate
Bridgend
Rhondda Cynon Taff
CF313wr
The trustees
D A Phillips
Pyip
P Miers
J Daniels
J Bowen
C Quinn
C Thompson
R O'Neill
H John
Resigned 28 February 2024
Resigned 16 October 2024
Appointed 14 May 2024
Independent examlner
FaRana Ahmed FCCA
Carslon ETL
1 st Floor, Tudor House
16 Cathedral Road
Cardrff
CF119LJ
OBJECTIVES AND ACTIVITIES
The trustees confirm that they have referred to the guidance contained in the Charity Commi88ion's
general guidance on public benefit when reviewing the Wales Quality Centre aims and objectives and
in planning future activities.
The charity's declared objectlve is to promote and improve th8 cause of qualbty management, innovation
and organisational competence in Wales. The policy remains to provide advice to member and other
org8nisations in Wales on qualty and other related matters, to provide appropriate training seNices, to
act as a focus for the spreading of best practice. The Centre's mission has been exiended to promote
and nurture a culture of innovative competitiveness which will give Wales a world class private and
public sector.

Wales Quallty Centre
Company Limited by Guarants8
Trustees. Annual Report (Incorporating the Director's Report) (conbnuedj
Year ended 30 June 2024
ACHIEVEMENTS AND PERFORMANCE
Wales Quality Centre maintsined its position for providing first dass training and business improvement
support and advisory services, focusing on innovative thinking, to organisations throughout Wales. This
supported by the high level of positive customer feedback available for scrutiny by appropriate parties.
We have continued to expand the portfolio of flexible, quality and organisational developmenl services
available to member organisations and the wider market. Our market spans a wide field of economic
activity including manufacturing. service sector, health, education, local government, and public
authoriti8S.
The year under review, 12 months to June 2024, continued to be a difficult year for Welsh businesses,
there continues to be high levels of attrition and employee movement across all sectors, r8sulting in
skills and experiential challenge for businesses Demand for our services has been high.
We continue to support through implementation support, advice and training and have seen increased
interest in particular for our 6 Sigma 8ffici8ncy 8avings programm8, real projects undertaken by
organisations as part of our tralnln9 programmè continues to realis8 achleved savings for organisation
of £millions.
The importance of Wales Quality Centre's role to Wales PIC continues to be as relevant now as to any
previous lime. We have expanded our portfolio to meet changing needs and have worked flexibly to
provide support in difficult times. Our portfolio of training continues to expand along with membership
events and partnership working with organisations.
FINANCIAL REVIEW
We have continued to bulld on tradlng from the previous year and are encouraged by the resilience and
innovation of Welsh Business.
It Is reassurfng to see Such a high demand for our services, reflecting our Members planning and
upskilling for future growth. It is testament to the mindset and culture of organisations who engage with
the centre.
Our financial position 18 sound, as 18 future demand for our 8ervices, and we look forward to furth•r
supporting our customers through the coming year, it truly makes us proud to be Welsh.
R•vlew of the flnanclal p081tlon at tho end of the accountlng perlod
Total income durlng the year was £225,609 (2023.. £297,875). Total expenditure amounted to £249.465
(2023: £323,358).
Overall a deficit of £23,858 (2023.. £25,483) during the year, detailed breakdown of the income and
expenditure fomis part of the notes to the accounts.
Summary of Resorves
At the year-end unre51ricted reseNes were £292,659 {2023'. £316,515). The level of free reserves
available was £290,926 (2023.. £315,026).
Reserves Policy
The minimum reserves policy continues unchanged from the previous year, wlth thls in mind, the
govefflor5 have agreed to continue with the following policy..
The Board's policy is to maintain reserves at a level which would fund at least three months. expenditure
in salaries and ovetheads wf(houl income. When expenditure levels reach and remain at a level which
threatens that policy, action is tsken, through restructuring and downsizing the organisation, to reduce
expenditure accordingly.

Wales Quality Centre
Company Llmited by Guarantee
Trustses, Annual Report (Incorporating the Director's Report) (ce￿IlnUed)
Year ended 30 June 2024
We have increased our reserve levels in recent years to provide operational flexibility in uncertain times,
and to provide free services to support our members. We have now utilised some of this surplus to
improve our Member experience, to develop our website and d￿lta1 operations and intend to deliver a
high profile keynote Member event later in the year.
We have no issues with our reserve levels at present, these have remained sufficient and stabje. Vle
8nticipated a reduction in our resenies of around £30.000 last year and our performance was in linewith
our projections. For the 2024 to 2025 year our intention is to further utilise our reserves for further
improvements and events. We anticipate a trading loss of around £50,000 to achieve this.
Rl8k Management
It is the govemors, responsibility to be conscious of and identify the major risks to which Wales Qualty
Centre is exposed and to review the 8yStem8 and intemal controls that have been established to mitigate
those ri8k8.
They are satisfied that the necessary systems and internal controls are put in place together with
mechanisms to ensure that Ihey continue to operate satisfactorily. All Board and s8nior management
meeting agenda8 have been drawn up to ensure that strategic and operational rl$ks In relation to the
Business Plan are assessed and mitigating strategies put in place where necessary. Wales Quality
Centre continually looks to strengthen its intemal structure and senior management team to facilitate
more strategic and risk-ba8ed approach to planning, decision-making and operational delivery.
We contlnue to digftlse and upgrade our operatlons for business continulty planning.
Plans for future perlod8
The outlook remains uncertain for Welsh business and remains volatile for the coming year..
Accordingly, we base our position for the coming year on maintaining a stable financial po8ltion, whilst
investing in our Member experience.
The organisation will continue to fo¢us on further development and sustainability within the context set
out in its operational plan. The core capabilrties and capacity of the organisation will continue to be
broadened to meet customer demand, and opportunities for new proj8cts will be explored and
developed.
Resources will continue to be managed carefully and further consideration will be given to positioning
the organisation to enable it to meet challenges and opportunities.
Going ft)pNard, the Wales Qualty Centre will continue to develop Strategic alliances with other
complimentary service providers in Wales. The objective is to share knowledge to promote recent
concepts behind business improvement and innovation, and raise awareness and competence acros5
our customer base.
STRUCTURE. GOVERNANCE AND MANAGEMENT
Wal&s Quality Centre is a company limrted by guarantee, governed by ils Memorandum and Articles of
Association which were adopted 29 June 1989 and amended 1 December 1994. The company became
a registered charily on 29 April 1997.
The Board of Governors is responsible for the overall governance of the charity. Goverr)ors, who can
be invited to stand for election by the Chairman and, with the approval of the members, are elected to
the Board. Invitations are also s8nt to member organisations to propose a representative to stand for
election to the Board.

Wales Quality Centre
Company Llmlted by Guarantee
Trustees. Annual Raport (Incorporatlng the Directorfs Report)
Year ended 30 June 2024
The govemors are fam1118r￿ryth the work of the Wales Qualty Centre, having been Invofved as mernb8r8.
customers and assoclates prlor to Joining th8 Board.
New govemors ere requlred to attend a training 8e&8bn o)verlng the following:
the management of the Centre, Includlng the obllgattons of the ￿¥emIng Board and Memorandum
and Articla$ which Set out th8 oper81ional framework;
the adminlstratlon of the Centre indudlng resources, mèmborshlp support and servlce do1￿1ery.
current flnancial p031tlon a8 set out In the publlshed IFnand81 statomonts
the future plan8 and 8trategy
Gov8mors m88t on a regular b8818 att8ndlng a mlnlmum of four 808rd maètlngs a year. The 808rd's
Ex8culve Sub Commltt88. comprl8lng thè Chalr and VIC8 Chalr, vAth the Chlef Execufjve. rn88ts to
monltor the perfonn8nc8 of the Centre on a regular basls. At the8e meetlng8, the Board revlews
strategy and operatk>nal pgrfom8n¢o and sets operallng plan¥ and budgets.
The Board delegatss the exe￿1$8 of certain powers regarding th8 management and admlnistration c
the tharity as 8et out below. This 18 controll8d by reporting to the Board so that all declsions made
und8r d818gat8d pow8rs can be ratlfi8d by the Board In due course.
Ex•cullve Commltt••
The Execulive Committee c4Jmprises Ihe Chalr 8fKI WIC8 Chair, wtth the Chief Execut6ve. The
comrnittee m88ts periodically. It is charged wtth r8viewlng th8 8tr8tegy, pollcy and management of the
(l)aWs finance and resourc88 and advlslng the Boa￿1 accordlngly. The commlttea ensures propar
procedures ar& In place to manage financlal resourc88 prudendy and 8nsur8s that HR policies and
pro¢eduMs aro In Ilna vAth (￿rr￿ntIag1SIatIOn arnj good praGtItXJ.
Chlef Ex•eutlv•
The Chlef Executlve18 responslble for the d8y-to-day management of th8 ¢harltls aff81rs and where
aprmpriata. proposlng and Impl8mentlng policl8s agreed by the Board of Governors.
Small company provl•lon•
Thls report has b8en prepared kn accord8nce wlth the provlsions appllcable to companles entlUe(I to the
small comp8nl88 examplon.
The tru8te86' annual r8POrt was approved on ....
truste88 by:
2L•.¥and SIgn￿ on behalf of the board of
Twslee
Name

Wales Quality Centre
Company Limited by Guarantee
Independent Examinerfs Report to the Trustees of Wales Quality Centre
Year ended 30 June 2024
I report to the trustees on my examination of the financial statements of Wales Qualty Centre ('the
charity) for the year ended 30 June 2024.
Responslbllltles and basls of report
As the trustees of the company (and also its directors for the purposes of company law) you are
responsible for the preparation of the financial statements 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 18
of the 2006 Act and are eligible for independent examination, I report in respect of my examination of
the charity's accounts as carried out under section 145 of the Charities Act 2011 {'the 2011 Act,). In
carying out my examination I have followed th8 Dir8Ctions giv8n by the Charity Commission under
section 145(5)(b) of the 2011 Act.
Indopend•nt oxamlngr's statement
I have completed my examination. I confim that no matters have come to my attention in connectlon
with the examination giving me cause to believe:
accounting records were not kept in respect of the charity as required by section 386 of the
2006 Act., or
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the
2008 Act other than any requirement that the accounts give a 'true and fairf view which is not
a matter considered as part of an independent exarnination; or
th• financial $tst•m•nt$ have not been prepared in accordance with the methods and
prlncipl88 of tho Statement of Recommended Practice for accounting and reporting by
charrties applicable to charrties 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 wlth the examination to which
attention should be drawn in this report in order to enable a proper understanding of the accounts to be
ached.
orL
Farzana Ahmed FCCA
Independent Examiner
Carston ETL
1st Floor, Tudor House
16 Cathedral Road
Cardiff
CF119LJ
Date: ityloilitsz

Wales Quality Centre
Company Llmlted by Guarantsé
Statement of Financial Activities
(including income and expenditure account)
Year ended 30 June 2024
2024
Unrestricted
funds Total fund8 Total funds
2023
Income and endowments
Donations and legacies
Charitable activities
Investment income
21,240
200,021
4,348
21,240
200,021
4,348
18,152
279,566
2,157
Total Income
225,609
226,609
297,875
Expendlturn
Expenditure on charitable activities
Total •xpandltur•
249,465
249,465
323,358
323,358
249,465
249,466
Net eX￿ndItUr• and n•t movèm•nt In funds
(23,856)
(23,856)
{25,483)
R8eon¢illatlon of funds
Total funds brought fO￿ard
Total funds carrled fonNard
316,515
292,659
316,616
292,659
341,998
316.515
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The notes on pages 8 to 16 fonn part of these financial statements.

Wales Quality Centre
Company Llmlted by Guarante•
Statement of Flnanclal Posltlon
30 June 2024
2024
2023
Flxed a880ts
Tanglble flxed assets
16
1,733
1.489
Curront a860ts
Debtor8
Cash at bank and in hand
16
22.724
315.960
338.884
49,388
322.998
372,384
Crndltor8: amounts falllng du• wlthln onè yoar
Not currant as80ts
17
47,758
57.358
315,026
316,515
316.515
290,926
292.659
292.659
Total a88ot8 lèb• currant Ilabllltles
N•t a•80ts
Fund8 of tho charfty
Unre8trfcted funds
292.659
318,616
316,516
Total charlty funds
19
292,659
For Ihe year ending 30 June 2024 lh8 charlty w88 entiued to exemption from audit under sectlon 477 of
th8 Companles Act 2006 relatSng to 8mall coNpgnles.
Diractors, rnsponslbllitios:
The memb8rs have not required the crxnpany to obtaln an audlt of Its flnanclal statements for tho
year In questlon In accordance wth Sectlon 476:
Tha dlroctors a¢knowl8dge ihalr respon31￿1￿•sforCOmptylng with the requlrements of tha Act wlth
respect to accounting ￿CordS and the preparatlon of flnandal ststemerts.
These fflnanclal stat8m8nt8 have b88n prepared In 8ccord8nce wth the provlslons 8pplicable to
companies subject to th8 small companies, r8gkn8.
Thes8 financlal Statements wer8 approved by the Ix>ard of trustees and aulhorised for issue on 11,10 112 0%
February 2025. and are signed on behalf of the t10a￿l by..
Trustee
Company registtatton number: 02239398
The nolos on pagos 8 to 15 forni partof th0$0 flnanol•l statam•nt8.

Wales Quality Centre
Company Llmlted by Guarantee
Notss to the Financial Statemants
Year ended 30 June 2024
General informatlon
The charty is a public benefrt entity and a private company limited by guarantee, registered in
England and Wales and a registered charity in England and Wales. The address of the registered
office is Waterton Centre, Waterton Industrial Estate, Bridgend. Rhondda Cynon Taff, CF313wr.
Statsmont of compllance
These financial statements have been prepared in compliance with FRS 102, The Financial
Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities
SORP {FRS 102)) and the Compani8s Act 2006.
Accountlng poli¢i•s
B•$l$ of proparatlon
The financial statements have been pr8pared on the historical cost basis,
The financial statements are prepared in sterling, which 18 the functional currency of the entty.
Golng concern
There are no material uneertainti6s about the charitls ability to continue.
Judgements and key sources ot estlmatlon uncertalnty
The preparation of the financial atatèmants requlres management to make judgements, estimates
and assumptions that affect the amounts reported. These estimates and judgements are
continually reviewed and are based on experience and other factors, including expectstions of
future events that ar8 believed to be reasonable under the circumstances.
There are no judgements or 80urces of estimation uncertainty that have a material effect on tha80
account6.
Fund accountlng
Unrestricted funds are available for use at the discretion of the trustees to further any of the
charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or
commitment.
Restricted funds are subjected to restrictions on their expenditure dedared by the donor or through
the terms of an appeal, and fall into one of trNO sub-classes: restricted income funds or endowment
funds.

Wales Quality Centre
Company Limited by Guarantee
Notes to the FlnancSal Statements (¢ontlnuedJ
Year ended 30 June 2024
Accounting pollcles (contlnu•d)
Incomlng re$our¢es
All incoming resources are included in the statement of financial activities when entitlement has
passed to the charty,. it is probable that the economic benefits associated with the transaction will
flow to the charity and the amount can be reliably measured. The following specffic policies ar8
applied to particular calegories of income..
income from donations or grants is recognised when th8r8 IS 8vid8nce of entitlement to the
gfft, receipt is probable and ils amount rAn be measured reliably.
legacy income is recognised when receipt is probable and entitlement 18 88t8blished.
income from donated goods is measured at the falr value of the goods unless this Is
impractical to measure reliably, in which case the value is derived from the cost lo the donor
or the estimated resale value. Donated facilities and services are recognised in the accounts
when received if the value can be reliably measured. No amounts are included for the
contribution of general volunteer$.
income from contracts for the supply of swvices is recogni8ed with the delivery of the
contracted service. This is classified as unrestricted funds unless there is a contractual
requirement for it to b8 spent on a particular purpose and returned if unspent. in which case
it may be regarded as restricted.
Resources oxpondod
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any
VAT which cannot be fully recovered, and is classified under headings of the ststement of financial
activit188 to which it relates-
expenditure on raising funds includes the costs of all fundraising activities, evantg, non-
charitable trading activities, and the sale of donated goods.
expenditu￿ on charitable activities includes all costs incurred by a charity in undertaking
activitie5 that further ils ch8rrtable aims for the benefit of its beneficiaries, including those
support costs and costs relating to the govemance of the charity apportioned to charrtable
activities.
other expenditure includes all expenditure that is neither relatad to raising funds for the charity
nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Dir8Ct costs
attributable to a single activity are allocaled directly to that activity. Shared costs are apportioned
btheen the activities they contribute to on a reasonable, justifiable and consistent basis.
Operatlng leases
Lease payments are recognised as an expense over the lease tenn on a 5traighl-line basis. The
aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term,
on a straight-line basis.

Wales Quality Centre
Company Llmltsd by Guarantee
Notes to the Financlal Statements (contlnuodj
Year ended 30 June 2024
Accounllng pollcigs fconUnu•d)
Tanglble assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated
depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded
at the fair valu8 at th8 date of rev81uation less any subsequent accumulated depreciation and
subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other
recognised gains and losses, unless St reverses a charge for impairment that has previously been
recognised as expenditure within the statement of financial activities. A d8crease in the carrying
amount of an asset as a result of revaluation, is recognised in other recognised gains and losses,
except to which it offsets any prevlous revaluation gain, in which case the loss 1$ shown within
other recognised gains and losse5 on the statement of financial activities.
Depreclatlon
Depreciation is calculated so as to write off the cost or valuation of an a88et, less its residual value.
over the useful economic life of that asset as follows:
Fixtur88 & fittings
Computer Equipment
250A straFght line
250A straight line
Flnan¢lal Instruments
A financial asset or a financial liability is recognised only when the entity becomes a p8ty to the
contractual provisions of the instrument. Baslc financial instruments are initially recognised at the
amount receivable or payable including any related transactlon costs, unless the arrangement
constitutes a financing transaction, where it is recognised at the present value of the future
payments dSscounted at a market rate of interest for a similar debt instrument. Current asset5 and
current liabilities are subsequently measured at the cash or other consideration expected to be
paid or received and not discounted.
Deflned contrlbutlon plans
Contributions to defined contribution plans are recognised as an expense in the period in which
the related service is provided. Prepaid contributions are recognised as an asset to the extent that
the prepayment will lead to a reduction in future payments or a cash refund.
Limit6d by guarantoo
Each member of the Board of Twste•s has undertaken to guarantee the Charty'g debts to the
sum of £1 each.
qo

Wales Quality Centre
Company Limited by Guarantse
Notes to the Financial Statements (contlnuedj
Year ended 30 June 2024
Donations and legacies
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Sub8crlptlons
Subscriptions
21,240
21,240
16,152
16,152
Charltabl• activltl8s
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Training and business advisory
seNices
200,021
200,021
279,566
279,586
Inv68tmont income
Unrestricted Total Funds Unrestricted Total Fund8
Funds
2024
Funds
2023
Bank Int8r6st r8calved
4,348
2,157
2,157
Expondlture on charltable actlvltles by fund typ•
Unrestricted Total Fund$ Unreslricted Total Funds
Funds
2024
Fund8
2023
Training and business advisory
seNices
Support C06ts
203,467
45,998
249,465
203,467
45,998
249.466
278,245
45,113
323,358
278,245
45,113
323,358
Expendlture on charitsblo actlvltles by activ5ty type
Activiti88
undertaken
directly
Support Total funds
costs
2024
Total fund
2023
Training and business advisory
services
Govem8nce costs
203,468
42,857
3,140
246,326
3,140
320,657
2,701
203,468
45,997
249,465
323,358
11

Wales Quality Centre
Company Limited by Guarantee
Notes to the Financial Ststements {continuedJ
Year ended 30 June 2024
10. Analysls of support Costs
Analysis of
support costs Total 2024 Total 2023
staff costs
Governance costs
42,858
3.140
42,858
3,140
45.998
42.412
2,701
45,998
45.113
11. Net expondlturo
Net expenditure is stated after chargingl{crediting>'.
2024
2023
Depreciation of tangible fixed assets
672
1,412
12. Independent examlnatlon fees
2024
2023
Fees payable to the independent examiner for-
Independent examination of the financial statements
2,900
2,700
13. Staff costs
The total staff costs and employee benefits for th• r•porting perlod are analysed as follows..
2024
2023
Wages and salaries
Social security costs
Employer contributions to pension plans
129,651
4.273
3,267
137.191
146,937
4,496
3,440
154,873
The average head count of empbyees durlng the year was 3 {2023: 4). The average number of
full-time equivalent employees during the year 1$ anatysed as follows:
2024
No.
2023
No.
Number of administration & charitable staff
The number of employees whose remuneration for the year fell within the following bands, were..
2024
2023
No.
£60,000 to £69,999
£70.000 to £79,999
Key Management Personnel
Key management personnel include all persons that have authority and responsibilty for planning,
directing and controlling the activities of the charty. The total compensation paid to key
management personnel for ser4ices provided to the charity was £86.282 (2023:£84,434).
12

Wales Quality Centre
Company Limited by Guarantee
Notes to the Financial Statements (contknuedj
Year ended 30 June 2024
14. Trustee r•muneratlon and expenses
D A Phillips (existing twstee) was appointed as Chief Executive from the 1 stAugust 2018 and also
Continues her position as a trustee. The total remuneration receiv8d by D A Phillips in her capa¢ty
as Chief Executives of the company amounted to £86,282 (2023: £84,434). No remuneration was
received for any services provided as trustee.
No remuneration or other benefft8 from employment with the charty or a related entty were
received by the other trustees.
No trustee expenses have been incurred.
16. Tanglblo flxéd a$s•ts
Fixtures and
flttings
Equipment
Total
Cost
At 1 Juty 2023
Addiiion8
6,196
17,994
916
24,190
916
At 30 June 2024
6,196
18,910
26,106
Depreclatlon
At 1 July 2023
Charge for the year
At 30 June 2024
6,196
16,505
672
22,701
672
6,196
17,177
23.373
Carylng amount
At 30 June 2024
1,733
1,489
1,733
1,489
At 30 June 2023
16. Debtors
2024
2023
Trade debtors
Prepayments and accrued income
other debtors
19.600
3.124
46,778
1,457
1,153
22,724
49,388
17. Crodltor8: amounts falllng due wlthln one yoar
2024
2023
Trade creditors
Accruals and deferred income
Soci81 security snd other taxes
Other creditors
8,265
31,489
7,147
857
23.841
29,738
2,540
1,239
47,758
57,358
13

Wales Quality Centre
Company Llmlted by Guarantee
Notes to the Financial Ststements (contlnu•d)
Year ended 30 June 2024
18. Pension8 and other post-retlrement benèfits
Deflned contrlbutlon plans
The amount recognised in income or expenditure a8 an expense in relation to defined contribution
plans was £3,267 <2023.. £3,440).
19. Analysls of charltable funds
Unrestrlcted funds
At
1 Juty 2023
At30
Income Expenditure June 2024
General funds
316,515
225,609
(249,465)
292,659
At
1 July 2022
At30
June 2023
Income Expenditure
General funds
341,998
297,875
1323,358)
316.515
20. Analysls of net assets between funds
Unrestricted Total Funds
Funds
2024
Tangible fixed assets
Current assets
Creditors less than 1 y&8r
Net assets
1,733
338,684
147,758)
292,659
1,733
338,684
(47,758)
292,659
Unrestricted Total Funds
Funds
2023
Tangible fixed assets
Current assets
Creditors less than 1 y88r
Not assets
1,489
372,384
(57,358)
316,515
1,489
372,384
157,358)
316,515
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Wales Quality Centre
Company Limited by Guarantee
Notes to thè Flnanclal Ststements (conthiued)
Year ended 30 June 2024
21. Operatlng lease commitments
The totsl future minlmum lease payments under non-cancellable operating leases are as follows:
2024
2023
Not later than 1 year
Later than 1 year and not later than 5 years
756
4,536
5,292
793
793
22. Related partlos
D A Phillips (existing trustee) was appointed as Chief Executive from the 1stAugust 2018 and also
continues her position as a trustee. The total remuneration received by D A Phillips in her capacity
as Chief Executives of the company amunted to £86,282 (2023.. £84,434). No remuneration was
received for any ser¥ices provid•d as trustee.
Members get 25% discount on consultancy and tralning.
15