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← Wales Quality Centre

2025-06-30-accounts

COMPANY REGISTRATION NUMBER: 02239398 CHARITY REGISTRATION NUMBER: 1062140

Wales Quality Centre Company Limited by Guarantee Unaudited Financial Statements 30 June 2025

CARSTON ETL Chartered accountants ist Floor, Tudor House 16 Cathedral Road Cardiff CF11 9LJ

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Wales Quality Centre

Company Limited by Guarantee

Financial Statements

Year ended 30 June 2025

Page
Trustees’ annual report (incorporating the director's report) 1
Independent examiner's reportto thetrustees 5
Statement offinancial activities (including income and
expenditure account) 6
Statement offinancial position 7
Notestothefinancialstatements 8

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Wales Quality Centre

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director's Report)

Year ended 30 June 2025

The trustees, 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 2025.

Reference and administrative details

Registered charity name Wales Quality Centre Charity registration number 1062140 Company registration number 2239398 Principal office and registered Waterton Centre office Waterton Industrial Estate Bridgend Rhondda Cynon Taff CF31 3WT

The trustees

D A Phillips P Yip P Miers J Daniels J Bowen Resigned 3 September 2025 C Quinn H John Appointed 14 May 2024

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Senior management
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DA Phillips Resigned 30 May 2025 P Anthony Appointed 19 May 2025 Independent examiner Farzana Ahmed FCCA Carston ETL 1st Floor, Tudor House 16 Cathedral Road Cardiff CF11 9LJ

Objectives and activities

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Wales Quality Centre aims and objectives and in planning future activities.

The charity's declared objective is to promote and improve the cause of quality management, innovation and organisational competence in Wales. The policy remains to provide advice to member and other organisations in Wales on quality and other related matters, to provide appropriate training services, to act as a focus for the spreading of best practice. The Centre's mission has been extended to promote and nurture a culture of innovative competitiveness which will give Wales a world class private and public sector.

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Wales Quality Centre

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director's Report) (continued

Year ended 30 June 2025

Achievements and performance

Wales Quality Centre maintained its position for providing first class training and business improvement support and advisory services, focusing on innovative thinking, to organisations throughout Wales. This is 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 development 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 authorities. The year under review, 12 months to June 2025, has continued to be a difficult year for Welsh businesses, there continues to be high levels of attrition and employee movement across all sectors, resulting in a 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 continued interest for our 6 Sigma efficiency savings programme, real projects undertaken by organisations as part of our training programme continues to realise substantial savings for organisations.

The importance of Wales Quality Centre's role to Wales Plc continues to be as relevant now as to any previous time. 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 build on trading from the previous year and are encouraged by the resilience and innovation of Welsh Business.

it is reassuring 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 is sound, as is future demand for our services, and we look forward to further supporting our customers through the coming year, it truly makes us proud to be Welsh.

Review of the financial position at the end of the accounting period Total income during the year was £227,667 (2024: £225,609). Total expenditure amounted to £295,957 (2024: £249,465).

Overall a deficit of £68,290 (2024: £23,856) during the year, detailed breakdown of the income and expenditure forms part of the notes to the accounts.

Summary of Reserves

At the year end unrestricted reserves were £224,369 (2024: £292,659). The level of free reserves available was £223,593 (2024: £290,927).

Reserves Policy

The minimum reserves policy continues unchanged from the previous year, with this in mind, the governors 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 overheads without income, When expenditure levels reach and remain at a level which threatens that policy, action is taken, through restructuring and downsizing the organisation, to reduce expenditure accordingly.

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Wales Quality Centre

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director's Report) (continued

Year ended 30 June 2025

Having 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 further develop our website and digital operations and to deliver a high profile keynote Member event which was well attended and achieved a good level of customer appreciation.

We have no issues with our reserve levels, these have remained sufficient and stable. We planned for a trading loss of around £50K during the year to invest in the Members experiences and to deliver our Best Practice event. We delivered within budget and have retained our reserves.

Risk Management

It is the governors’ responsibility to be conscious of and identify the major risks to which Wales Quality Centre is exposed and to review the systems and internal controls that have been established to mitigate those risks.

They are satisfied that the necessary systems and internal controls are put in place together with mechanisms to ensure that they continue to operate satisfactorily. All Board and senior management meeting agendas have been drawn up to ensure that strategic and operational risks in relation to the Business Plan are assessed and mitigating strategies put in place where necessary. Wales Quality Centre continually looks to strengthen its internal structure and senior management team to facilitate a more strategic and risk-based approach to planning, decision-making and operational delivery.

Ongoing business continuity planning continues to be a priority.

Plans for future periods

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 position.

The organisation will continue to focus on further development and sustainability within the context set out in its operational plan. The core capabilities and capacity of the organisation will continue to be broadened to meet customer demand, and opportunities for new projects 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 forward, the Wales Quality 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 across our customer base.

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Wales Quality Centre

Company Limited by Guarantee

Trustees’ Annual Report (Incorporating the Director’s Report) (continued)

Year ended 30 June 2025

Structure, governance and management

Wales Quality Centre is a company limited by guarantee, governed by its Memorandum and Articles of Association which were adopted 29 June 1989 and amended 1 December 1994. The company became a registered charity on 29 April 1997.

The Board of Governors is responsible for the overall governance of the charity. Governors, 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 sent to member organisations to propose a representative to stand for election to the Board.

The governors are familiar with the work of the Wales Quality Centre, having been involved as members, customers and associates prior to joining the Board.

New governors are required to attend a training session covering the following:

Governors meet on a regular basis attending a minimum of four Board meetings a year. The Board's Executive Sub Committee, comprising the Chair and Vice Chair, with the Chief Executive, meets to monitor the performance of the Centre on a regular basis. At these meetings, the Board reviews strategy and operational performance and sets operating plans and budgets.

The Board delegates the exercise of certain powers regarding the management and administration of the charity as set out below. This is controlled by reporting to the Board so that all decisions made under delegated powers can be ratified by the Board in due course.

Executive Committee

The Executive Committee comprises the Chair and Vice Chair, with the Chief Executive. The committee meets periodically. It is charged with reviewing the strategy, policy and management of the charity's finance and resources and advising the Board accordingly. The committee ensures proper procedures are in place to manage financial resources prudently and ensures that HR policies and procedures are in line with current legislation and good practice.

Chief Executive

The Chief Executive is responsible for the day-to-day management of the charity's affairs and where appropriate, proposing and implementing policies agreed by the Board of Governors.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The trustees' annual report was approved on 1202-2 Band signed on behalf of the board of trustees by:

prit Miers - chair.M4. Piece?Meats

Name

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Wales Quality Centre

Company Limited by Guarantee

Independent Examiner's Report to the Trustees of Wales Quality Centre

Year ended 30 June 2025

| report to the trustees on my examination of the financial statements of Wales Quality Centre (‘the charity’) for the year ended 30 June 2025.

Responsibilities and basis 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 16 of the 2006 Act and are eligible for independent examination, | 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 carrying out my examination | have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

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

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

  2. the financial statements do not accord with those records; or

  3. the financial statements 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 financial statements 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).

| have no concems 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.

Farzana Ahmed FCCA Independent Examiner Carston ETL 1st Floor, Tudor House 16 Cathedral Road Cardiff CF11 9LJ

Date: 62. loz} oat

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Wales Quality Centre

Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year ended 30 June 2025

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|||||||| |---|---|---|---|---|---|---| |2025|2024| |Unrestricted| |funds|Totalfunds|Total|funds| |Note|£|£|£| |Income|and|endowments| |Donations|and|legacies|5|16,845|16,845|21,240| |Charitable|activities|6|207,190|207,190|200,021| |Investment|income|7|3,632|3,632|4,348| |Total|income|227,667|227,667|225,609| |Expenditure| |Expenditure on|charitable|activities|8,9|295,957|295,957|249,465| |Total expenditure|295,957|295,957|249,465| |Net expenditure|and net movement|in funds|(68,290)|(68,290)|(23,856)| |Reconciliation|of funds| |Total|funds|brought forward|292,659|292,659|316,515| |Total funds|carried forward|224,369|224,369|292,659|

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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 15 form part of these financial statements.

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Wales Quality Centre Company Limited by Guarantee

Notes to the Financial Statements

Year ended 30 June 2025

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|||||||| |---|---|---|---|---|---|---| |2025|2024.| |Note|£|£|£| |Fixed|assets| |Tangible|fixed|assets|15|776|1,733| |Current|assets| |Debtors|16|66,051|22,724| |Cash|at bank|and|in|hand|230,827|315,960| |296,878|338,684| |Creditors:|amounts|falling|due within one year|17|73,285|47,758| |Net|current|assets|223,593|290,926| |Total assets|less|current|liabilities|224,369|292,659| |Net|assets|224,369|292,659| |Funds|of the|charity| |Unrestricted|funds|224,369|292,659| |Total|charity funds|19|224,369|292,659|

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For the year ending 30 June 2025 ithe charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors’ responsibilities:

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

These financial statements were approved by the board of trustees and authorised for issue on +. Few 2026, and are signed on behalf of the board by:

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Trustee
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Phil Miers - chair, Lerch Sane. Meets
Name
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Company registration number: 02239398

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Wales Quality Centre

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 30 June 2025

1. General information

The charity is a public benefit 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, CF31 3WT.

2. Statement of compliance

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 Companies Act 2006.

3. Accounting policies

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Basis of preparation

The financial statements have been prepared on the historical cost basis.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires 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 expectations of future events that are believed to be reasonable under the circumstances. There are no judgements or sources of estimation uncertainty that have a material effect on these accounts.

Fund accounting

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 declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

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Wales Quality Centre

Company Limited by Guarantee Notes to the Financial Statements (continueg)

Year ended 30 June 2025

3. Accounting policies (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; 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 specific policies are applied to particular categories of income:

Resources expended

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 statement of

financial activities to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis,

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Wales Quality Centre

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 30 June 2025

3. Accounting policies (continued)

Tangible 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 value at the date of revaluation 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 it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease 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 previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Depreciation

.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Fixtures & fittings - 25% straight line Computer Equipment - 25% straight line

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Defined contribution 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.

4. Limited by guarantee

Each member of the Board of Trustees has undertaken to guarantee the Charity's debts to the sum of £1 each.

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Wales Quality Centre

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 30 June 2025

5. Donations and legacies

Unrestricted Total Funds Unrestricted Total Funds
Funds 2025 Funds 2024
£ £ £ £
Subscriptions
Subscriptions 16,845 16,845 21,240 21,240
6. Charitable activities
Unrestricted Total Funds Unrestricted Total Funds
Funds 2025 Funds 2024
£ £ £ £
Training and business advisory
services 207,190 207,190 200,021 200,021
7. Investmentincome
Unrestricted Total Funds Unrestricted Total Funds
Funds 2025 Funds 2024
£ £ £ £
Bank interest received 3,632 3,632 4,348 4,348
8. Expenditure on charitable activities byfund type
Unrestricted Total Funds Unrestricted Total Funds
Funds 2025 Funds 2024.
£ £ £ £
Training and business advisory
services
Support costs		 231,538
64,419		 231,538
64,419		 203,468
45,997		 203,468
45,997
295,957 295,957 249,465 249,465
9. Expenditure on charitable activities by activitytype
Activities
undertaken
directly		 Support
cosis		 Totalfunds
2025		 — Totalfund
2024
£ £ £ £
Training and business advisory
services
Governance costs		 231,538
-		 61,168
3,251		 292,706
3,251		 246,326
3,139
231,538 64,419 295,957 249,465

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Wales Quality Centre

Company Limited by Guarantee

Notes to the Financial Statements (continuea)

Year ended 30 June 2025

10. Analysis of support costs

Analysis of
support costs Total 2025 Total 2024
£ £ £
Staffcosts 61,168 61,168 42,858
Govemancecosts 3,251 3,251 3,140
64,419 64,419 45,998
11. Netexpenditure
Net expenditure is stated after charging/(crediting):
2025 2024
£ £
Depreciation of tangiblefixedassets 957 672
12. Independentexamination fees
2025 2024
£ £
Fees payable to the independentexaminer for:
Independent examination ofthe financial statements 3,250 3,140
13. Staffcosts
The total staff costs and employee benefits forthe reporting period are analysed as follows:
2025 2024
£ £
Wages and salaries 173,020 129,651
Social security costs 1,767 4,273
Employer contributions to pension plans 4,585 3,267
179,372 137,191
The average head count ofemployees during the yearwas 3 (2024: 3). The average number of
full-timeequivalentemployeesduringtheyearisanalysedasfollows:
2025 2024
No. No.
Number of administration & charitable staff 3 3
The number ofemployees whose remuneration forthe year fell within the following bands, were:
2025 2024
No. No.
£70,000 to £79,999 1
£100,000 to £109,999 1
4 4

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Wales Quality Centre

Company Limited by Guarantee

Notes to the Financial Statements (continueq)

Year ended 30 June 2025

Key Management Personnel

Key management personnel! include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The total compensation paid to key management personnel for services provided to the charity was £124,408 (2024:£86,282),

14. Trustee remuneration and expenses

D A Phillips (existing trustee) was appointed as Chief Executive from the ist August 2018 and also continues her position as a trustee. She resigned from her position as Chief Executive on the 30 May 2025. The total remuneration received by D A Phillips in her capacity as Chief Executives of the company amounted to £124,408 (2024: £86,282). No remuneration was received for any services provided as trustee. No remuneration or other benefits from employment with the charity or a related entity were received by the other trustees.

No trustee expenses have been incurred.

15. Tangible fixed assets

Fixtures and
fittings Equipment Total
£ £ £
Cost
At 1 July2024and 30June2025 6,196 18,910 25,106
Depreciation
At 1 July2024 6,196 17,177 23,373
Charge fortheyear - 957 957
At 30June 2025 6,196 18,134 24,330
Carrying amount
At 30June 2025 _ 776 776
At30 June 2024 - 1,733 1,733
16. Debtors
2025 2024
£ £
Tradedebtors 63,482 19,600
Prepayments andaccrued income 2,569 3,124
66,051 22,724

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Wales Quality Centre

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 30 June 2025

17. Creditors: amounts falling due within one year

2025 2024
£ £
Trade creditors
Accrualsanddeferredincome		 9,947
47,344		 8,265
31,489
Social securityand othertaxes
Other creditors		 12,346
3,648		 7,147
857
73,285 47,758

18. Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £4,585 (2024: £3,267).

19. Analysis of charitable funds

Unrestricted funds

At
At 30 June 202
1 July2024 Income Expenditure 5
£ £ £ £
General funds 292,659 227,667 (295,957) 224,369
At At
1 July2023 Income Expenditure 30June2024
£ £ £ £
General funds 316,515 225,609 (249,465) 292,659

20. Analysis of net assets between funds

Unrestricted Total Funds
Funds 2025
£ £
Tangible fixed assets 776 776
Currentassets 296,878 296,878
Creditors lessthan 1 year (73,285) (73,285)
Netassets 224,369 224,369
Unrestricted Total Funds
Funds 2024
£ £
Tangible fixed assets 1,732 1,732
Current assets 338,683 338,683
Creditors lessthan 1 year (47,756) (47,756)
Netassets 292,659 292,659

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Wales Quality Centre

Company Limited by Guarantee

Notes to the Financial Statements (continue)

Year ended 30 June 2025

21. Operating lease commitments

The total future minimum lease payments under non-cancellable operating leases are The total future minimum lease payments under non-cancellable operating leases are as follows:
2025 2024
£ £
Not faterthan 1 year 756 756
Later than 1 yearand not laterthan 5 years 3,528 4,536
4,284 5,292

22. Related parties

D A Phillips (existing trustee) was appointed as Chief Executive from the ist August 2018 and also continues her position as a trustee. She resigned from her position as Chief executive on the 30 May 2025. The total remuneration received by D A Phillips in her capacity as Chief Executives of the company amounted to £124,408 (2023: £86,282). No remuneration was received for any services provided as trustee.

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