2025-03-31-accounts

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REGISTERED COMPANY NUMBER: 03407991 (England and Wales) REGISTERED CHARITY NUMBER: 1063949

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 FOR DEWIS LIMITED

Bevan Buckland LLP Chartered Accountants And Statutory Auditors Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA? 9LA

DEWIS LIMITED

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

		Page
Report of the Trustees	1	1 to5
Report of the Independent Auditors	6	6 to8
Statement of Financial Activities		9
Statement of Financial Position		10
Statement of Cash Flows		11
Notes to the Statement of Cash Flows		12
Notes to the Financial Statements	13	13 to22
Detailed Statement of Financial Activities	23	23 to24

DEWIS LIMITED

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

Charitable Objects

"to carry on for the benefit of the community the business of providing housing and associated amenities for persons in necessitous circumstances upon terms appropriate to their means and providing for aged persons in need thereof housing and any associated amenities specially designed or adapted to meet the disabilities and requirements of such persons. In providing housing and associated amenities for persons in necessitous circumstances, the charity is able to rent properties to those in such circumstances."

VISION

Our vision is that we live in a society where youth homelessness is rare, temporary and exceptional. Where every young person has access to support and the resources to overcome homelessness and build a brighter future for themselves.

MISSION STATEMENT

Our mission statement is to alleviate homelessness by providing specialist support to young people, especially those with complex needs, who are homeless or at risk of being homeless, aiming to improve their current circumstances and build resilience for the future. We do this by offering flexible, quality supported housing services to meet individual needs. We create positive change and independence through coproduction with the young people who are the core of our delivery combined with responsive outcomes focussed support.

VALUES

o Respect, Promote and Encourage o Include, Consult and Support o Empower, Listen and Learn

Page 1

DEWIS LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

OBJECTIVES AND ACTIVITIES Significant activities

OBJECTIVES AND ACTIVITIES Significant activities
Significant activities Summarised below are the referrals and accommodation statistics during the	Summarised below are the referrals and accommodation statistics during the
	2024/2025
Supported Accommodation Scheme
No of Referrals Received	68
No of Referrals Accommodated	11
C/F Accommodated	6
Total No Accommodated	17
Crisis Support Scheme
No of Referrals Received	21
No of Referrals Accommodated	16
C/F Accommodated	2
Total No Accommodated	18
Rapid Support and Step Down Scheme
No of Referrals Received	11
No of Referrals Accommodated	7
C/F Accommodated	8
Total No Accommodated	15
Transition Support Scheme
No of Referrals Received	23
No of Referrals Accommodated	7
C/F Accommodated	5
Total No Accommodated	12
Bond Board Scheme
No of Referrals Received	128
No of Referrals Accommodated	10
C/F Accommodated	12
Total No Accommodated	22
TOTAL NUMBERS Organisation:
No of Referrals Received	251
No of Referrals Accommodated	51
C/F Accommodated	33
Total No Accommodated	84

Public benefit

When planning our activities for the year, we have considered the Charity Commission's guidance on public benefit, in particular, the focus of our activities continues to be providing supported accommodation and related services to young people aged 16 -25. We also work closely with all our partners to address identified needs within the strategies of the Local Authority and Welsh Government.

FINANCIAL REVIEW

Principal funding sources

The principal funding sources for the charity aside from rental receipts from Housing Benefit payments are by way of grants and contract income mainly from Neath Port Talbot and Bridgend County Borough Councils and the Welsh Government.

Under the Memorandum and Articles of Association, the charity has the powers to invest any way the trustees wish. The Trustees, having regard to the liquidity requirements of operating the charity and to the reserves policy, have the intention of keeping any surplus funds available in interest bearing deposit accounts.

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DEWIS LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

FINANCIAL REVIEW

Reserves policy

The Board has set out the charity's reserve policy to enable trustees to be in proper financial control of the organisation and meet its legal obligations. The reserve policy is a product of the charity's strategic planning, budgeting and risk management process. This policy is non static and will be reviewed on an annual basis by the Board of Trustees.

The Board has set the reserves policy based on the following:-

• -Contingency planning-critical costs

• -Reserves to meet the medium term strategic plan

• -Reserves to match any capital spend

• -Any remaining reserves represents the 'true free reserves' of the charity

On reviewing the reserves policy annually the Board will review the organisation's financial circumstances and operational environment and ensure that the level of reserves is monitored as part of the budget and financial reporting process.

ACHIEVEMENTS AND IMPACT DURING THE YEAR

During 2024-25 we received 251 referrals for accommodation. A total of 84 young people were accommodated across our services and supported to enable them to develop the independence skills and housing related support outcomes they need to move on into sustainable accommodation. We increased our footprint in Neath Port Talbot, expanding our number of units of accommodation across Neath Port Talbot and Bridgend to a total of 41 across both areas. We received ongoing Enhance support from Lloyds Foundation Grant to enable us to deliver our Strategic and Business Plan.

PROGRESS AGAINST OUR STRATEGIC PRIORITIES 2024/25

We successfully delivered our Business Plan Objectives under our three key strands: Building Strengths; Agility; Collaboration and Innovation across the year. We achieved our outcomes as detailed below:

1. Building Strengths

We benefitted from the Lloyds Foundation Grant Enhance Support to upskill our team in Trauma-Informed and Strengths-based training to underpin our work with young people. We focussed our work around consistent support and evidence-based outcomes. We engaged in network events to promote and celebrate our work with young people. We targeted our fundraising to strengthen our core and add value to our delivery offer to young people.

2. Agility

We engaged positively with those who commission our services to understand the local challenges and continued to promote our 'can do' culture to support them in meeting the presenting needs. We used feedback from monitoring and review to ensure delivery of quality services and outcomes for those we support. We retested our delivery service models, staffing models and financial models for rigour, and have expanded our delivery team in line with our additional contracts/units of accommodation. We developed our services to meet presenting needs, mobilising a 4-bed UASC/Care Leavers Service and a further 3-bed Care Leavers Service during the year. We have continued to respond to the wellbeing needs of those we support through our South Wales Police Commissioners Office Adverse Childhood Experiences Funding and ongoing Regional Integrated Funds to improve outcomes for those we support.

3. Collaboration and Innovation

We worked with our partners through participation in National, Regional and Local consultation, service review, workshops and forums. We engaged positively in service review of our Bond Scheme to closely align this to commissioning priorities in addressing housing need and move on for young people. We used feedback from our stakeholders including the young people we support, professionals who support them and commissioners to feed into our service improvements, and used this learning in our service development work. We worked with commissioners to further extend our footprint in Neath Port Talbot, developing services to meet presenting needs, extending our units of accommodation from 35 to 41 by the end of the year.

FUTURE PLANNING

We undertook our annual Business Planning processes in Quarter 4, working with our Trustees and Staff Team, and reflecting on feedback from our stakeholders to review our impact and what's worked; celebrate our achievements in 2024-25; and plan for the 2025-26 Financial Year under the overarching umbrella of our Strategic Plan 2022-2027. During 2025-26, we will be allocating our strategic funds in training staff to embed our trauma-informed and strength-based work; preparing for commissioning/re-commissioning opportunities by employing a Fundraiser to support our value added work and improving our Social Media presence via external commissioned support. Additionally, we will invest in cyclical upgrade of IT equipment to support our migration to Windows 11. Importantly, we will be continuing to review our offer to respond to the future needs of those who commission and are accommodated within our services.

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DEWIS LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The organisation was first established in 1987 as Port Talbot and Afan Single Housing Society. During 1997 the charity changed its name to Dewis and the organisation became a charitable company limited by guarantee, incorporated on 18 July 1997 and registered as a charity on 13 August 1997. The company was established under a Memorandum of Association, which established the objects and powers of the company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.

Recruitment and appointment of new trustees

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 2024. 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).

Organisational structure

Dewis Limited has a Board of Trustees, which meets on a quarterly basis and is responsible for the strategies and policies of the charity. A scheme of delegation is in place and day to day responsibility for the provision of the services rests with the Director and the Senior Leadership Team.

Induction and training of new trustees

Each Board member will receive a Terms of Reference and Trustee Code of Conduct, Trustees if appointed to specific roles such as the Chair, Vice Chair or Treasurer will receive detailed role descriptions. There is an initial induction where the training needs of each Trustee are considered through a skills audit exercise. Formal training if required is accessed based on identified needs.

Risk management

The Trustees actively review the major risks which the charity faces on a quarterly basis and believe that maintaining our free reserves at the levels stated in the note 15 in the Financial Statements, combined with our annual review of the controls over key financial systems carried our through an internal audit programme, will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which we face and confirm that they have established systems to mitigate the significant risks based on a cycle of continuous review.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

03407991 (England and Wales)

Registered Charity number

1063949

Registered office

4 7 Station Road Port Talbot West Glamorgan SA13 1NW

Trustees

Mrs L Evans (resigned 9.5.24) Ms C Dunstan (resigned 15.10.24) Mrs M Pilliner Mr J N Davies Mrs R Teague Mr K Hedges Mrs KE Perry-Jones (appointed 8.8.24) Mrs NE Singleton (appointed 15.10.24)

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DEWIS LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

REFERENCE AND ADMINISTRATIVE DETAILS

Auditors

Bevan Buckland LLP Chartered Accountants And Statutory Auditors Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA? 9LA

Solicitors

JCP Solicitors Venture Court Waterside Business Park Valley Way Enterprise Park Swansea SA68QP

Bankers

Lloyds TSB Station Road Port Talbot SA13 1JA

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Dewis Limited for the purposes of company law) are responsible for Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charity SORP;

• make judgements and estimates that are reasonable and prudent;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

• there is no relevant audit information of which the charitable company's auditors are unaware; and

• the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

AUDITORS

The auditors, Bevan Buckland LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.[J ] .. and signed on its behalf by: Approved by order of the board of trustees on ... /.'1: /.O.j.1e.zr. ..._

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF DEWIS LIMITED

Opinion

We have audited the financial statements of Dewis Limited (the 'charitable company') for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In our opinion the financial statements:

• give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the Report of the Trustees has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

• We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

• adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or the financial statements are not in agreement with the accounting records and returns; or certain disclosures of trustees' remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit; or

• the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF DEWIS LIMITED

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Extent to which the audit was considered capable of detecting irregularities, including fraud

We identify and assess the risks of material misstatement of the Financial Statements, whether due to fraud or error, and then, design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

We discussed our audit independence complying with the Revised Ethical Standard 2019 with the engagement team members whilst planning the audit and continually monitored our independence throughout the process.

Identifying and assessing potential risks related to irregularities.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

• enquiring of management, including obtaining and reviewing supporting documentation, concerning the charitable company's policies and procedures relating to:

a) identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;

b) detecting and responding to the risks of fraud and whether they have knowledge of any actual. suspected or alleged fraud;

c) the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations;

• discussing among the engagement team how and where fraud might occur in the financial statements and any potential indicators of fraud.

• obtaining an understanding of the legal and regulatory frameworks that the charitable company operates in, focusing on those laws and regulations that had a direct effect on the financial statements or that had a fundamental effect on the operations of the charitable company, the key laws and regulations we considered in this context included the UK Companies Act and relevant tax legislation.

Audit response to risks identified

In addition to the above, our procedures to respond to risks identified included the following:

• reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with relevant laws and regulations;

• enquiring of management concerning actual and potential litigation and claims; performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; - reading minutes of meetings of those charged with governance;

• in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments;

• assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and - evaluating the operational rationale of any significant transactions that are unusual or outside the normal course of operations.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF DEWIS LIMITED

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Llinos Williams (Senior Statutory Auditor) for and on behalf of Bevan Buckland LLP Chartered Accountants And Statutory Auditors Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA? 9LA Date: .J .. . 110 .. l.zs ............. . 4.-

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DEWIS LIMITED

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

				2025	2024
		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
	Notes	£	£	£	£
INCOME AND ENDOWMENTS FROM
Donations and legacies	2	1,137		1,137	1,286
Charitable activities	4
Charitable Activities		1,330,401	98,353	1,428,754	1,200,788
Investment income	3	13,243		13,243	7,649
Other income		17,968		17,968	16,820
Total		1,362,749	98,353	1,461,102	1,226,543
EXPENDITURE ON
Charitable activities	5
Charitable Activities		1,283,224	106,353	1,389,577	1,221,991
NET INCOME/(EXPENDITURE) Transfers between funds	18	79,525 200	(8,000) (200)	71,525	4,552
Net movement in funds		79,725	(8,200)	71,525	4,552
RECONCILIATION OF FUNDS
Total funds brought forward		741,355	14,600	755,955	751,403
TOTAL FUNDS CARRIED FORWARD		821,080	6,400	827,480	755,955

The notes form part of these financial statements

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DEWIS LIMITED

STATEMENT OF FINANCIAL POSITION 31 MARCH 2025

				2025	2024
		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
	Notes	£	£	£	£
FIXED ASSETS
Tangible assets	12	243,807	6,400	250,207	258,138
Investments	13				85,000
		243,807	6,400	250,207	343,138
CURRENT ASSETS
Debtors	14	146,041		146,041	138,809
Investments	15	220,000		220,000	139,479
Cash at bank and in hand		229,046		229,046	168,616
		595,087		595,087	446,904
CREDITORS
Amounts falling due within one year	16	(17,814)		(17,814)	(34,087)
NET CURRENT ASSETS		577,273		577,273	412,817
TOTAL ASSETS LESS CURRENT LIABILITIES	TOTAL ASSETS LESS CURRENT LIABILITIES	821,080	6,400	827,480	755,955
NET ASSETS		821,080	6,400	827,480	755,955
FUNDS	18
Unrestricted funds				821,080	741,355
Restricted funds				6,400	14,600
TOTAL FUNDS				827,480	755,955

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 .[l] and were signed on its behalf by: ... H+:.[J] O. .1.. QZS. . ...........

The notes form part of these financial statements

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DEWIS LIMITED

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

	2025	2024
Notes	£	£
Cash flows from operating activities
Cash generated from operations	42,351	(1,784)
Net cash provided by/(used in) operating activities	42,351	(1,784)
Cash flows from investing activities
Funds used for current investment	(80,521)
Purchase of fixed asset investments Sale of tangible fixed assets	357	(85,000)
Sale of fixed asset investments	85,000
Purchase of current investment		(3,727)
Interest received	13,243	7,649
Net cash provided by/(used in) investing activities	18,079	(81,078)
Cash flows from financing activities Funds received from current investments		85,000
Net cash provided by financing activities		85,000
Change in cash and cash equivalents in
the reporting period	60,430	2,138
Cash and cash equivalents at the se agin Doee Sepa eeeaAs
beginning of the reporting period	168,616	166,478
Cash and cash equivalents at the end of
the reporting period	229,046	168,616

The notes form part o gerian fe a la Gy[f ] these financial statements gs fat SE isicteypes 2

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DEWIS LIMITED

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

1.

2.

NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025	NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES		RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
		2025	2024
		£	£
Net income for the reporting period (as per the Statement of Financial
Activities)		71,525	4,552
Adjustments for:
Depreciation charges		7,574	8,086
Interest received		(13,243)	(7,649)
Increase in debtors		(7,232)	(9,359)
(Decrease )/increase in creditors		(16,273)	2,586
Net cash provided by/(used in) operations		42,351	(1,784)
ANALYSIS OF CHANGES IN NET FUNDS
	At 1.4.24	Cash flow	At 31.3.25
	£	£	£
Net cash
Cash at bank and in hand	168,616	60,430	229,046
	168,616	60,430	229,046
Liquid resources Deposits included in cash
Current asset investments	139,479	80,521	220,000
	139,479	80,521	220,000
Total	308,095	140,951	449,046

The notes form part of these financial statements

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DEWIS LIMITED

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, with the exception of investments which are included at market value.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when received. Gifts in kind are valued at their estimated value to the charity and included under the appropriate headings.

Grants for immediate expenditure are accounted for when they become receivable. Grants received for specific purposes are treated as restricted funds. Grants restricted to future accounting periods are deferred and recognised in these periods.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category.

All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis e.g per scheme, estimated usage.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - 2% on cost Fixtures and fittings - 15% on cost

There is no depreciation on land.

Assets below £3,000 are not capitalised but included within expenses.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

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.

Designated funds are unrestricted funds earmarked by the Board for particular purposes falling in future time periods. Designated funds in place as at 31st March 2025 are to cover future project expenditure not yet incurred.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

continued ...

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DEWIS LIMITED

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

1. ACCOUNTING POLICIES - continued

Allocation of support and governance costs

Support costs are those functions that assist the work of the Charitable Company but do not directly undertake charitable activities. Support costs have been allocated between governance costs and other support costs. Governance costs comprise all costs involving the public accountability of the Charitable Company and its compliance with regulation and good practice. These costs include costs related to statutory audit and legal fees together with apportionment of overhead and support costs.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remains with the lessor are charged to the statement of financial activities on a straight-line basis over the period of the lease.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Cash at Bank

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss

If there is a decrease in the impairment loss ansmg from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Basic financial liabilities

Basic financial liabilities, including creditors.that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Page 14

continued ...

DEWIS LIMITED

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

1. ACCOUNTING POLICIES - continued

Creditors

Creditors and provisions 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 and provisions are normally recognised at their settlement amount after allowing for any discount due.

Functional and Presentation Currency

The company's functional and presentation currency is pounds sterling.

Going Concern

The Trustees consider that there are no material uncertainties about the Charitable Company's ability to continue as a going concern.

2. DONATIONS AND LEGACIES

3.

4.

DONATIONS AND LEGACIES
		2025	2024
		£	£
Donations		1,137	1,286
INVESTMENT INCOME
		2025	2024
		£	£
Interest receivable		13,243	7,649
INCOME FROM CHARITABLE ACTIVITIES	INCOME FROM CHARITABLE ACTIVITIES
		2025	2024
	Activity	£	£
Rent receivable	Charitable Activities	509,496	434,302
BCBC Contract RSASDS	Charitable Activities	414,108	389,057
NPTCBC Contract UASC
Park	Charitable Activities	39,698	38,197
NPTCBC Contract CSS	Charitable Activities	188,714	188,191
Grants	Charitable Activities	100,853	151,041
NPTCBC Contract UASC 29	Charitable Activities	167,959
NPTCBC Contract Swan	Charitable Activities	7,926
		1,428,754	1,200,788
Grants received, included in the above, are as follows:	Grants received, included in the above, are as follows:
		2025	2024
		£	£
NPTCBC Food Poverty		250	5,000
WG Bond Board Grant		35,648	35,648
WG TSS Grant		44,808	44,808
Lloyds Bank Foundation			25,000
Moondance Grant			8,000
Mental Health Grant		12,017	12,017
South Wales Police ACE's Grant		3,380	13,156
Crime Beat West Glamorgan			2,000
M Davies Grant			912
NPTCVS Discretionary C.O.L			3,500
NPTCVS Youth Fund		1,000	1,000
Tesco Blue Coin		500
MaryHomfrey		2,000
CommunityCohesionFund		1,250
		100,853	151,041

continued ...

Page 15

DEWIS LIMITED

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

5.	CHARITABLE ACTIVITIES COSTS
			Support
		Direct	costs (see
		Costs	note 6)	Totals
		£	£	£
	Charitable Activities	1,364,783	24,794	1,389,577
6.	SUPPORT COSTS
				Support
				costs
				£
	Charitable Activities			24,794
7.	NET INCOME/{EXPENDITURE)
	Net income/(expenditure) is stated after charging/(crediting):
			2025	2024
			£	£
	Auditors' remuneration		8,278	10,920
	Depreciation - owned assets		7,574	8,086
8.	TRUSTEES' REMUNERATION AND BENEFITS
	The trustees received no emoluments from the charitable company.
	Trustees' expenses
	No trustees were reimbursed expenses in 2025 or 2024.
9.	STAFF COSTS
			2025	2024
			£	£
	Wages and salaries		728,720	714,219
	Other pension costs		28,287	24,951
			757,007	739,170
	The average monthly number of employees during the year was as follows:
			2025	2024
	Senior Management Team Office Staff		3 1	3 1
	Support Staff		22	21
			26	25

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

continued ...

Page 16

DEWIS LIMITED

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

10. KEY MANAGEMENT

The total employee benefits of the key management personnel of the charity were £101,264 (2024 £97,326).

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

12.

	Unrestricted	Restricted	Total
	funds	funds	funds
	£	£	£
INCOME AND ENDOWMENTS FROM
Donations and legacies	1,286		1,286
Charitable activities
Charitable Activities	1,077,659	123,129	1,200,788
Investment income	7,649		7,649
Other income	16,820		16,820
Total	1,103,414	123,129	1,226,543
EXPENDITURE ON
Charitable activities
Charitable Activities	1,103,700	118,291	1,221,991
NET INCOME/(EXPENDITURE) Transfers between funds	(286) 139	4,838 (139)	4,552
Net movement in funds	(147)	4,699	4,552
RECONCILIATION OF FUNDS
Total funds brought forward	741,502	9,901	751,403
TOTAL FUNDS CARRIED FORWARD	741,355	14,600	755,955
TANGIBLE FIXED ASSETS
		Fixtures
	Freehold	and
	property	fittings	Totals
	£	£	£
COST
At 1 April 2024	338,149	52,151	390,300
Disposals		(11,485)	(11,485)
At 31 March 2025	338,149	40,666	378,815
DEPRECIATION
At 1 April 2024 Charge for year	85,963 5,513	46,199 2,061	132,162 7,574
Eliminated on disposal		(11,128)	(11,128)
At 31 March 2025	91,476	37,132	128,608
NET BOOK VALUE
At 31 March 2025	246,673	3,534	250,207
At 31 March 2024	252,186	5,952	258,138

continued ...

Page 17

DEWIS LIMITED

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

13. FIXED ASSET INVESTMENTS

FIXED ASSET INVESTMENTS
	Cash and
	settlements
	pending
	£
MARKET VALUE
At 1 April 2024	85,000
Disposals	(85,000)
At 31 March 2025
NET BOOK VALUE
At 31 March 2025
At 31 March 2024	85,000

There were no investment assets outside the UK.

This relates to cash on deposit with a maturity of more than one year held for investment purposes rather than to meet short-term cash commitments as they fall due. There are no such investments at year end 2025.

At the balance sheet date the average maturity of the deposits was 20.5 months (2023 no deposits). The average interest rate was 5.2%.

14.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

	2025	2024
	£	£
Trade debtors	101,370	78,199
Other debtors	30,224	47,987
Prepayments and accrued income	14,447	12,623
	146,041	138,809

15. CURRENT ASSET INVESTMENTS

CURRENT ASSET INVESTMENTS
	2025	2024
	£	£
Cash on deposit	220,000	139,479

This relates to cash on deposit with a maturity of less than one year held for investment purposes rather than to meet short-term cash commitments as they fall due.

At the balance sheet date the average maturity of the deposits was 6 months. The average interest rate was 3.4%

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

	2025	2024
	£	£
Trade creditors	4,121	18,306
Accruals and deferred income	13,693	15,781
	17,814	34,087

continued ...

Page 18

DEWIS LIMITED

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

17. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

				2025	2024
				£	£
	Within one year				2,160
18.	MOVEMENT IN FUNDS
			Net	Transfers
			movement	between	At
		At 1.4.24	in funds	funds	31.3.25
		£	£	£	£
	Unrestricted funds
	General fund	20,599	79,525	(79,524)	20,600
	Designated Funds-Capital Assets	251,538		(7,731)	243,807
	Designated Fund-Capital Spend	25,000			25,000
	Designated Funds-contingency
	planning-critical costs	315,000			315,000
	Designated Funds-Strategic planning	104,218		70,792	175,010
	Lloyds Foundation Grant	25,000		(25,000)
	Designated Funds-IT equipment, Media,
	Fundraiser Post			41,663	41,663
		741,355	79,525	200	821,080
	Restricted funds
	Restricted Funds- Capital spend building	6,600		(200)	6,400
	Moondance	8,000	(8,000)
		14,600	(8,000)	(200)	6,400
	TOTAL FUNDS	755,955	71,525		827,480

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

	Incoming	Resources	Movement
	resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	1,360,749	(1,281,224)	79,525
Mary Homfrey	2,000	(2,000)
	1,362,749	(1,283,224)	79,525
Restricted funds
Moondance		(8,000)	(8,000)
Mental Health Grant	12,017	(12,017)
South Wales Police ACE's Grant NPTCBC -Food Poverty	3,380 250	(3,380) (250)
Bond Grant	35,648	(35,648)
WG TSS Grant	44,808	(44,808)
NPTCVS Youth Fund	1,000	(1,000)
Community Cohesion Fund	1,250	(1,250)
	98,353	(106,353)	(8,000)
TOTAL FUNDS	1,461,102	(1,389,577)	71,525

continued ...

Page 19

DEWIS LIMITED

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

18. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Comparatives for movement in funds
		Net	Transfers
		movement	between	At
	At 1.4.23	in funds	funds	31.3.24
	£	£	£	£
Unrestricted funds
General fund	23,327	(6,536)	3,808	20,599
Designated Funds-Capital Assets	259,425		(7,887)	251,538
Designated Fund-Capital Spend	25,000			25,000
Designated Funds-contingency
planning-critical costs	300,000		15,000	315,000
Designated Funds-Strategic planning	115,000		(10,782)	104,218
Lloyds Foundation Grant	18,750	6,250		25,000
	741,502	(286)	139	741,355
Restricted funds
Restricted Funds- Capital spend building	6,800		(200)	6,600
Moondance	3,101	4,838	61	8,000
	9,901	4,838	(139)	14,600
TOTAL FUNDS	751,403	4,552		755,955

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

	Incoming	Resources	Movement
	resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	1,078,414	(1,084,950)	(6,536)
Lloyds Foundation Grant	25,000	(18,750)	6,250
	1,103,414	(1,103,700)	(286)
Restricted funds
Moondance	8,000	(3,162)	4,838
Mental Health Grant	12,017	(12,017)
South Wales Police ACE's Grant	13,156	(13,156)
NPTCBC -Food Poverty	5,000	(5,000)
Bond Grant	35,648	(35,648)
WG TSS Grant	44,808	(44,808)
NPTCVS Discretionary C.O.L	3,500	(3,500)
NPTCVS Youth Fund	1,000	(1,000)
	123,129	(118,291)	4,838
TOTAL FUNDS	1,226,543	(1,221,991 )	4,552

Page 20

continued ...

DEWIS LIMITED

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

18. MOVEMENT IN FUNDS - continued

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

		Net	Transfers
		movement	between	At
	At 1.4.23	in funds	funds	31.3.25
	£	£	£	£
Unrestricted funds
General fund	23,327	72,989	(75,716)	20,600
Designated Funds-Capital Assets	259,425		(15,618)	243,807
Designated Fund-Capital Spend	25,000			25,000
Designated Funds-contingency
planning-critical costs	300,000		15,000	315,000
Designated Funds-Strategic planning	115,000		60,010	175,010
Lloyds Foundation Grant	18,750	6,250	(25,000)
Designated Funds-IT equipment, Media,
Fundraiser Post			41,663	41,663
	741,502	79,239	339	821,080
Restricted funds
Restricted Funds- Capital spend building	6,800		(400)	6,400
Moondance	3,101	(3,162)	61
	9,901	(3,162)	(339)	6,400
TOTAL FUNDS	751,403	76,077		827,480

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

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:	A current year 12 months and prior year 12 months combined net movement in funds, included in the above are	A current year 12 months and prior year 12 months combined net movement in funds, included in the above are	A current year 12 months and prior year 12 months combined net movement in funds, included in the above are
	Incoming	Resources	Movement
	resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	2,439,163	(2,366,174)	72,989
Lloyds Foundation Grant	25,000	(18,750)	6,250
Mary Homfrey	2,000	(2,000)
	2,466,163	(2,386,924)	79,239
Restricted funds
Moondance	8,000	(11,162)	(3,162)
Mental Health Grant	24,034	(24,034)
South Wales Police ACE's Grant	16,536	(16,536)
NPTCBC -Food Poverty	5,250	(5,250)
Bond Grant	71,296	(71,296)
WG TSS Grant	89,616	(89,616)
NPTCVS Discretionary C.O.L	3,500	(3,500)
NPTCVS Youth Fund	2,000	(2,000)
Community Cohesion Fund	1,250	(1,250)
	221,482	(224,644)	(3,162)
TOTAL FUNDS	2,687,645	(2,611,568)	76,077

Funds

Unrestricted Designated Funds

Capital assets

The capital assets designated fund represents the surpluses which have been spent on capital assets. These surpluses are not available since the cash has been committed on such assets.

continued ...

Page 21

DEWIS LIMITED

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

18. MOVEMENT IN FUNDS - continued

Funds - continued

Capital spend

This represents capital funds that have been committed to capital spend at the year end for the next few years.

Contingency planning-critical costs

These funds have been designated to make sure that in the event of any major catastrophic issues the trustees are in a position to bring the charity to a controlled close and be able to meet all financial liabilities, lease obligations etc.

Strategic planning

The trustees have set a medium term, 5 year plan which sets out what the charity's is aiming to achieve over this period.

To achieve this plan the funds have been designated. The designated funds also include any projects planned within the medium term.

Designated Funds-IT equipment, Media, Fundraiser Post

These funds have been designated to purchase future IT equipment. These funds have been created by transferring funds from Strategic planning.

Restricted Funds

Capital spend building

The balance of restricted funds carried forward includes grants for the purchase of fixed assets and leases. Outgoing resources charged to the fund represent depreciation of fixed assets.

Lloyd Foundation, Moondance

These both grants were received within 23/24 but was for the period 1.4.24 to 31.3.2025. These were carried forward in reserves as at 1.4.24 and have now been spent within this year.

This has resulted in a transfer from Lloyds foundation funds in year to unrestricted funds to ensure the income goes against the costs incurred in the year.

19. RELATED PARTY DISCLOSURES

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

Page 22

DEWIS LIMITED

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

FOR THE YEAR ENDED 31 MARCH 2025	FOR THE YEAR ENDED 31 MARCH 2025
	2025	2024
	£	£
INCOME AND ENDOWMENTS
Donations and legacies
Donations	1,137	1,286
Investment income
Interest receivable	13,243	7,649
Charitable activities
Rent receivable	509,496	434,302
BCBC Contract RSASDS	414,108	389,057
NPTCBC Contract UASC Park	39,698	38,197
NPTCBC Contract CSS	188,714	188,191
Grants	100,853	151,041
NPTCBC Contract UASC 29	167,959
NPTCBC Contract Swan	7,926
	1,428,754	1,200,788
Other income
Sundry income	7,040	4,408
Bond claim reimbursement	1,675	455
Social services reimbursement	9,253	11,957
	17,968	16,820
Total incoming resources	1,461,102	1,226,543
EXPENDITURE
Charitable activities
Wages	728,720	714,219
Pensions	28,287	24,951
Rates and water	14,829	9,795
Insurance	9,301	7,740
Light and heat	47,286	49,741
Telephone	17,110	12,421
Postage.stationery, photocopier.IT	14,547	14,880
Sundries	357	27
Travel	7,251	7,839
Bank charges	137	303
Cleaning	3,966	3,682
Repairs, maintenance, renewals	33,533	30,415
Training and subscriptions	2,776	4,759
H.A.Management charge	166,481	124,045
Bond Guarantee Claims	1,675	455
IT systems	18,145	9,592
Grant -Community Cohesion Fund TSS office premises costs	1,250 10,697	12,222
Set up costs (29) Central office costs Social services YP costs	7,532 8,162	4,705 8,758 11,755
Security costs	200,996	127,514
Grant Expense Moondance	8,000	3,162
Grant Expense NPT CVS Youth Fund	921	1,000
Grant Expense	25,250	5,001
Bad debt		259
Carried forward	1,357,209	1,189,240

This page does not form part of the statutory financial statements

Page 23

DEWIS LIMITED

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

	2025	2024
	£	£
Charitable activities
Brought forward Depn of freehold property Depn of fixtures and fittings	1,357,209 5,513 2,061	1,189,240 5,513 2,573
	1,364,783	1,197,326
Support costs
Support costs
Auditors' remuneration	8,278	10,920
Accountancy	3,750	3,500
Governance costs	12,766	10,245
	24,794	24,665
Total resources expended	1,389,577	1,221,991
Net income	71,525	4,552

This page does not form part of the statutory financial statements

Page24

' ...

REGISTERED COMPANY NUMBER: 03407991 (England and Wales) REGISTERED CHARITY NUMBER: 1063949

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 FOR DEWIS LIMITED

Bevan Buckland LLP Chartered Accountants And Statutory Auditors Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA? 9LA

DEWIS LIMITED

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

		Page
Report of the Trustees	1	1 to5
Report of the Independent Auditors	6	6 to8
Statement of Financial Activities		9
Statement of Financial Position		10
Statement of Cash Flows		11
Notes to the Statement of Cash Flows		12
Notes to the Financial Statements	13	13 to22
Detailed Statement of Financial Activities	23	23 to24

DEWIS LIMITED

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

Charitable Objects

"to carry on for the benefit of the community the business of providing housing and associated amenities for persons in necessitous circumstances upon terms appropriate to their means and providing for aged persons in need thereof housing and any associated amenities specially designed or adapted to meet the disabilities and requirements of such persons. In providing housing and associated amenities for persons in necessitous circumstances, the charity is able to rent properties to those in such circumstances."

VISION

Our vision is that we live in a society where youth homelessness is rare, temporary and exceptional. Where every young person has access to support and the resources to overcome homelessness and build a brighter future for themselves.

MISSION STATEMENT

Our mission statement is to alleviate homelessness by providing specialist support to young people, especially those with complex needs, who are homeless or at risk of being homeless, aiming to improve their current circumstances and build resilience for the future. We do this by offering flexible, quality supported housing services to meet individual needs. We create positive change and independence through coproduction with the young people who are the core of our delivery combined with responsive outcomes focussed support.

VALUES

o Respect, Promote and Encourage o Include, Consult and Support o Empower, Listen and Learn

Page 1

DEWIS LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

OBJECTIVES AND ACTIVITIES Significant activities

OBJECTIVES AND ACTIVITIES Significant activities
Significant activities Summarised below are the referrals and accommodation statistics during the	Summarised below are the referrals and accommodation statistics during the
	2024/2025
Supported Accommodation Scheme
No of Referrals Received	68
No of Referrals Accommodated	11
C/F Accommodated	6
Total No Accommodated	17
Crisis Support Scheme
No of Referrals Received	21
No of Referrals Accommodated	16
C/F Accommodated	2
Total No Accommodated	18
Rapid Support and Step Down Scheme
No of Referrals Received	11
No of Referrals Accommodated	7
C/F Accommodated	8
Total No Accommodated	15
Transition Support Scheme
No of Referrals Received	23
No of Referrals Accommodated	7
C/F Accommodated	5
Total No Accommodated	12
Bond Board Scheme
No of Referrals Received	128
No of Referrals Accommodated	10
C/F Accommodated	12
Total No Accommodated	22
TOTAL NUMBERS Organisation:
No of Referrals Received	251
No of Referrals Accommodated	51
C/F Accommodated	33
Total No Accommodated	84

Public benefit

When planning our activities for the year, we have considered the Charity Commission's guidance on public benefit, in particular, the focus of our activities continues to be providing supported accommodation and related services to young people aged 16 -25. We also work closely with all our partners to address identified needs within the strategies of the Local Authority and Welsh Government.

FINANCIAL REVIEW

Principal funding sources

The principal funding sources for the charity aside from rental receipts from Housing Benefit payments are by way of grants and contract income mainly from Neath Port Talbot and Bridgend County Borough Councils and the Welsh Government.

Under the Memorandum and Articles of Association, the charity has the powers to invest any way the trustees wish. The Trustees, having regard to the liquidity requirements of operating the charity and to the reserves policy, have the intention of keeping any surplus funds available in interest bearing deposit accounts.

Page2

DEWIS LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

FINANCIAL REVIEW

Reserves policy

The Board has set out the charity's reserve policy to enable trustees to be in proper financial control of the organisation and meet its legal obligations. The reserve policy is a product of the charity's strategic planning, budgeting and risk management process. This policy is non static and will be reviewed on an annual basis by the Board of Trustees.

The Board has set the reserves policy based on the following:-

• -Contingency planning-critical costs

• -Reserves to meet the medium term strategic plan

• -Reserves to match any capital spend

• -Any remaining reserves represents the 'true free reserves' of the charity

On reviewing the reserves policy annually the Board will review the organisation's financial circumstances and operational environment and ensure that the level of reserves is monitored as part of the budget and financial reporting process.

ACHIEVEMENTS AND IMPACT DURING THE YEAR

During 2024-25 we received 251 referrals for accommodation. A total of 84 young people were accommodated across our services and supported to enable them to develop the independence skills and housing related support outcomes they need to move on into sustainable accommodation. We increased our footprint in Neath Port Talbot, expanding our number of units of accommodation across Neath Port Talbot and Bridgend to a total of 41 across both areas. We received ongoing Enhance support from Lloyds Foundation Grant to enable us to deliver our Strategic and Business Plan.

PROGRESS AGAINST OUR STRATEGIC PRIORITIES 2024/25

We successfully delivered our Business Plan Objectives under our three key strands: Building Strengths; Agility; Collaboration and Innovation across the year. We achieved our outcomes as detailed below:

1. Building Strengths

We benefitted from the Lloyds Foundation Grant Enhance Support to upskill our team in Trauma-Informed and Strengths-based training to underpin our work with young people. We focussed our work around consistent support and evidence-based outcomes. We engaged in network events to promote and celebrate our work with young people. We targeted our fundraising to strengthen our core and add value to our delivery offer to young people.

2. Agility

We engaged positively with those who commission our services to understand the local challenges and continued to promote our 'can do' culture to support them in meeting the presenting needs. We used feedback from monitoring and review to ensure delivery of quality services and outcomes for those we support. We retested our delivery service models, staffing models and financial models for rigour, and have expanded our delivery team in line with our additional contracts/units of accommodation. We developed our services to meet presenting needs, mobilising a 4-bed UASC/Care Leavers Service and a further 3-bed Care Leavers Service during the year. We have continued to respond to the wellbeing needs of those we support through our South Wales Police Commissioners Office Adverse Childhood Experiences Funding and ongoing Regional Integrated Funds to improve outcomes for those we support.

3. Collaboration and Innovation

We worked with our partners through participation in National, Regional and Local consultation, service review, workshops and forums. We engaged positively in service review of our Bond Scheme to closely align this to commissioning priorities in addressing housing need and move on for young people. We used feedback from our stakeholders including the young people we support, professionals who support them and commissioners to feed into our service improvements, and used this learning in our service development work. We worked with commissioners to further extend our footprint in Neath Port Talbot, developing services to meet presenting needs, extending our units of accommodation from 35 to 41 by the end of the year.

FUTURE PLANNING

We undertook our annual Business Planning processes in Quarter 4, working with our Trustees and Staff Team, and reflecting on feedback from our stakeholders to review our impact and what's worked; celebrate our achievements in 2024-25; and plan for the 2025-26 Financial Year under the overarching umbrella of our Strategic Plan 2022-2027. During 2025-26, we will be allocating our strategic funds in training staff to embed our trauma-informed and strength-based work; preparing for commissioning/re-commissioning opportunities by employing a Fundraiser to support our value added work and improving our Social Media presence via external commissioned support. Additionally, we will invest in cyclical upgrade of IT equipment to support our migration to Windows 11. Importantly, we will be continuing to review our offer to respond to the future needs of those who commission and are accommodated within our services.

Page3

DEWIS LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The organisation was first established in 1987 as Port Talbot and Afan Single Housing Society. During 1997 the charity changed its name to Dewis and the organisation became a charitable company limited by guarantee, incorporated on 18 July 1997 and registered as a charity on 13 August 1997. The company was established under a Memorandum of Association, which established the objects and powers of the company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.

Recruitment and appointment of new trustees

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 2024. 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).

Organisational structure

Dewis Limited has a Board of Trustees, which meets on a quarterly basis and is responsible for the strategies and policies of the charity. A scheme of delegation is in place and day to day responsibility for the provision of the services rests with the Director and the Senior Leadership Team.

Induction and training of new trustees

Each Board member will receive a Terms of Reference and Trustee Code of Conduct, Trustees if appointed to specific roles such as the Chair, Vice Chair or Treasurer will receive detailed role descriptions. There is an initial induction where the training needs of each Trustee are considered through a skills audit exercise. Formal training if required is accessed based on identified needs.

Risk management

The Trustees actively review the major risks which the charity faces on a quarterly basis and believe that maintaining our free reserves at the levels stated in the note 15 in the Financial Statements, combined with our annual review of the controls over key financial systems carried our through an internal audit programme, will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which we face and confirm that they have established systems to mitigate the significant risks based on a cycle of continuous review.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

03407991 (England and Wales)

Registered Charity number

1063949

Registered office

4 7 Station Road Port Talbot West Glamorgan SA13 1NW

Trustees

Mrs L Evans (resigned 9.5.24) Ms C Dunstan (resigned 15.10.24) Mrs M Pilliner Mr J N Davies Mrs R Teague Mr K Hedges Mrs KE Perry-Jones (appointed 8.8.24) Mrs NE Singleton (appointed 15.10.24)

Page 4

DEWIS LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

REFERENCE AND ADMINISTRATIVE DETAILS

Auditors

Bevan Buckland LLP Chartered Accountants And Statutory Auditors Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA? 9LA

Solicitors

JCP Solicitors Venture Court Waterside Business Park Valley Way Enterprise Park Swansea SA68QP

Bankers

Lloyds TSB Station Road Port Talbot SA13 1JA

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Dewis Limited for the purposes of company law) are responsible for Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charity SORP;

• make judgements and estimates that are reasonable and prudent;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

• there is no relevant audit information of which the charitable company's auditors are unaware; and

• the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

AUDITORS

The auditors, Bevan Buckland LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.[J ] .. and signed on its behalf by: Approved by order of the board of trustees on ... /.'1: /.O.j.1e.zr. ..._

Page5

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF DEWIS LIMITED

Opinion

We have audited the financial statements of Dewis Limited (the 'charitable company') for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In our opinion the financial statements:

• give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the Report of the Trustees has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

• We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

• adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or the financial statements are not in agreement with the accounting records and returns; or certain disclosures of trustees' remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit; or

• the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.

Page6

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF DEWIS LIMITED

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Extent to which the audit was considered capable of detecting irregularities, including fraud

We identify and assess the risks of material misstatement of the Financial Statements, whether due to fraud or error, and then, design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

We discussed our audit independence complying with the Revised Ethical Standard 2019 with the engagement team members whilst planning the audit and continually monitored our independence throughout the process.

Identifying and assessing potential risks related to irregularities.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

• enquiring of management, including obtaining and reviewing supporting documentation, concerning the charitable company's policies and procedures relating to:

a) identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;

b) detecting and responding to the risks of fraud and whether they have knowledge of any actual. suspected or alleged fraud;

c) the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations;

• discussing among the engagement team how and where fraud might occur in the financial statements and any potential indicators of fraud.

• obtaining an understanding of the legal and regulatory frameworks that the charitable company operates in, focusing on those laws and regulations that had a direct effect on the financial statements or that had a fundamental effect on the operations of the charitable company, the key laws and regulations we considered in this context included the UK Companies Act and relevant tax legislation.

Audit response to risks identified

In addition to the above, our procedures to respond to risks identified included the following:

• reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with relevant laws and regulations;

• enquiring of management concerning actual and potential litigation and claims; performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; - reading minutes of meetings of those charged with governance;

• in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments;

• assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and - evaluating the operational rationale of any significant transactions that are unusual or outside the normal course of operations.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Page 7

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF DEWIS LIMITED

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Llinos Williams (Senior Statutory Auditor) for and on behalf of Bevan Buckland LLP Chartered Accountants And Statutory Auditors Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA? 9LA Date: .J .. . 110 .. l.zs ............. . 4.-

Page8

DEWIS LIMITED

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

				2025	2024
		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
	Notes	£	£	£	£
INCOME AND ENDOWMENTS FROM
Donations and legacies	2	1,137		1,137	1,286
Charitable activities	4
Charitable Activities		1,330,401	98,353	1,428,754	1,200,788
Investment income	3	13,243		13,243	7,649
Other income		17,968		17,968	16,820
Total		1,362,749	98,353	1,461,102	1,226,543
EXPENDITURE ON
Charitable activities	5
Charitable Activities		1,283,224	106,353	1,389,577	1,221,991
NET INCOME/(EXPENDITURE) Transfers between funds	18	79,525 200	(8,000) (200)	71,525	4,552
Net movement in funds		79,725	(8,200)	71,525	4,552
RECONCILIATION OF FUNDS
Total funds brought forward		741,355	14,600	755,955	751,403
TOTAL FUNDS CARRIED FORWARD		821,080	6,400	827,480	755,955

The notes form part of these financial statements

Page 9

DEWIS LIMITED

STATEMENT OF FINANCIAL POSITION 31 MARCH 2025

				2025	2024
		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
	Notes	£	£	£	£
FIXED ASSETS
Tangible assets	12	243,807	6,400	250,207	258,138
Investments	13				85,000
		243,807	6,400	250,207	343,138
CURRENT ASSETS
Debtors	14	146,041		146,041	138,809
Investments	15	220,000		220,000	139,479
Cash at bank and in hand		229,046		229,046	168,616
		595,087		595,087	446,904
CREDITORS
Amounts falling due within one year	16	(17,814)		(17,814)	(34,087)
NET CURRENT ASSETS		577,273		577,273	412,817
TOTAL ASSETS LESS CURRENT LIABILITIES	TOTAL ASSETS LESS CURRENT LIABILITIES	821,080	6,400	827,480	755,955
NET ASSETS		821,080	6,400	827,480	755,955
FUNDS	18
Unrestricted funds				821,080	741,355
Restricted funds				6,400	14,600
TOTAL FUNDS				827,480	755,955

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 .[l] and were signed on its behalf by: ... H+:.[J] O. .1.. QZS. . ...........

The notes form part of these financial statements

Page 10

DEWIS LIMITED

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

	2025	2024
Notes	£	£
Cash flows from operating activities
Cash generated from operations	42,351	(1,784)
Net cash provided by/(used in) operating activities	42,351	(1,784)
Cash flows from investing activities
Funds used for current investment	(80,521)
Purchase of fixed asset investments Sale of tangible fixed assets	357	(85,000)
Sale of fixed asset investments	85,000
Purchase of current investment		(3,727)
Interest received	13,243	7,649
Net cash provided by/(used in) investing activities	18,079	(81,078)
Cash flows from financing activities Funds received from current investments		85,000
Net cash provided by financing activities		85,000
Change in cash and cash equivalents in
the reporting period	60,430	2,138
Cash and cash equivalents at the se agin Doee Sepa eeeaAs
beginning of the reporting period	168,616	166,478
Cash and cash equivalents at the end of
the reporting period	229,046	168,616

The notes form part o gerian fe a la Gy[f ] these financial statements gs fat SE isicteypes 2

Page 11

DEWIS LIMITED

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

1.

2.

NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025	NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES		RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
		2025	2024
		£	£
Net income for the reporting period (as per the Statement of Financial
Activities)		71,525	4,552
Adjustments for:
Depreciation charges		7,574	8,086
Interest received		(13,243)	(7,649)
Increase in debtors		(7,232)	(9,359)
(Decrease )/increase in creditors		(16,273)	2,586
Net cash provided by/(used in) operations		42,351	(1,784)
ANALYSIS OF CHANGES IN NET FUNDS
	At 1.4.24	Cash flow	At 31.3.25
	£	£	£
Net cash
Cash at bank and in hand	168,616	60,430	229,046
	168,616	60,430	229,046
Liquid resources Deposits included in cash
Current asset investments	139,479	80,521	220,000
	139,479	80,521	220,000
Total	308,095	140,951	449,046

The notes form part of these financial statements

Page 12

DEWIS LIMITED

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, with the exception of investments which are included at market value.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when received. Gifts in kind are valued at their estimated value to the charity and included under the appropriate headings.

Grants for immediate expenditure are accounted for when they become receivable. Grants received for specific purposes are treated as restricted funds. Grants restricted to future accounting periods are deferred and recognised in these periods.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category.

All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis e.g per scheme, estimated usage.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - 2% on cost Fixtures and fittings - 15% on cost

There is no depreciation on land.

Assets below £3,000 are not capitalised but included within expenses.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

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.

Designated funds are unrestricted funds earmarked by the Board for particular purposes falling in future time periods. Designated funds in place as at 31st March 2025 are to cover future project expenditure not yet incurred.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

continued ...

Page 13

DEWIS LIMITED

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

1. ACCOUNTING POLICIES - continued

Allocation of support and governance costs

Support costs are those functions that assist the work of the Charitable Company but do not directly undertake charitable activities. Support costs have been allocated between governance costs and other support costs. Governance costs comprise all costs involving the public accountability of the Charitable Company and its compliance with regulation and good practice. These costs include costs related to statutory audit and legal fees together with apportionment of overhead and support costs.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remains with the lessor are charged to the statement of financial activities on a straight-line basis over the period of the lease.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Cash at Bank

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss

If there is a decrease in the impairment loss ansmg from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Basic financial liabilities

Basic financial liabilities, including creditors.that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Page 14

continued ...

DEWIS LIMITED

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

1. ACCOUNTING POLICIES - continued

Creditors

Creditors and provisions 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 and provisions are normally recognised at their settlement amount after allowing for any discount due.

Functional and Presentation Currency

The company's functional and presentation currency is pounds sterling.

Going Concern

The Trustees consider that there are no material uncertainties about the Charitable Company's ability to continue as a going concern.

2. DONATIONS AND LEGACIES

3.

4.

DONATIONS AND LEGACIES
		2025	2024
		£	£
Donations		1,137	1,286
INVESTMENT INCOME
		2025	2024
		£	£
Interest receivable		13,243	7,649
INCOME FROM CHARITABLE ACTIVITIES	INCOME FROM CHARITABLE ACTIVITIES
		2025	2024
	Activity	£	£
Rent receivable	Charitable Activities	509,496	434,302
BCBC Contract RSASDS	Charitable Activities	414,108	389,057
NPTCBC Contract UASC
Park	Charitable Activities	39,698	38,197
NPTCBC Contract CSS	Charitable Activities	188,714	188,191
Grants	Charitable Activities	100,853	151,041
NPTCBC Contract UASC 29	Charitable Activities	167,959
NPTCBC Contract Swan	Charitable Activities	7,926
		1,428,754	1,200,788
Grants received, included in the above, are as follows:	Grants received, included in the above, are as follows:
		2025	2024
		£	£
NPTCBC Food Poverty		250	5,000
WG Bond Board Grant		35,648	35,648
WG TSS Grant		44,808	44,808
Lloyds Bank Foundation			25,000
Moondance Grant			8,000
Mental Health Grant		12,017	12,017
South Wales Police ACE's Grant		3,380	13,156
Crime Beat West Glamorgan			2,000
M Davies Grant			912
NPTCVS Discretionary C.O.L			3,500
NPTCVS Youth Fund		1,000	1,000
Tesco Blue Coin		500
MaryHomfrey		2,000
CommunityCohesionFund		1,250
		100,853	151,041

continued ...

Page 15

DEWIS LIMITED

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

5.	CHARITABLE ACTIVITIES COSTS
			Support
		Direct	costs (see
		Costs	note 6)	Totals
		£	£	£
	Charitable Activities	1,364,783	24,794	1,389,577
6.	SUPPORT COSTS
				Support
				costs
				£
	Charitable Activities			24,794
7.	NET INCOME/{EXPENDITURE)
	Net income/(expenditure) is stated after charging/(crediting):
			2025	2024
			£	£
	Auditors' remuneration		8,278	10,920
	Depreciation - owned assets		7,574	8,086
8.	TRUSTEES' REMUNERATION AND BENEFITS
	The trustees received no emoluments from the charitable company.
	Trustees' expenses
	No trustees were reimbursed expenses in 2025 or 2024.
9.	STAFF COSTS
			2025	2024
			£	£
	Wages and salaries		728,720	714,219
	Other pension costs		28,287	24,951
			757,007	739,170
	The average monthly number of employees during the year was as follows:
			2025	2024
	Senior Management Team Office Staff		3 1	3 1
	Support Staff		22	21
			26	25

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

continued ...

Page 16

DEWIS LIMITED

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

10. KEY MANAGEMENT

The total employee benefits of the key management personnel of the charity were £101,264 (2024 £97,326).

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

12.

	Unrestricted	Restricted	Total
	funds	funds	funds
	£	£	£
INCOME AND ENDOWMENTS FROM
Donations and legacies	1,286		1,286
Charitable activities
Charitable Activities	1,077,659	123,129	1,200,788
Investment income	7,649		7,649
Other income	16,820		16,820
Total	1,103,414	123,129	1,226,543
EXPENDITURE ON
Charitable activities
Charitable Activities	1,103,700	118,291	1,221,991
NET INCOME/(EXPENDITURE) Transfers between funds	(286) 139	4,838 (139)	4,552
Net movement in funds	(147)	4,699	4,552
RECONCILIATION OF FUNDS
Total funds brought forward	741,502	9,901	751,403
TOTAL FUNDS CARRIED FORWARD	741,355	14,600	755,955
TANGIBLE FIXED ASSETS
		Fixtures
	Freehold	and
	property	fittings	Totals
	£	£	£
COST
At 1 April 2024	338,149	52,151	390,300
Disposals		(11,485)	(11,485)
At 31 March 2025	338,149	40,666	378,815
DEPRECIATION
At 1 April 2024 Charge for year	85,963 5,513	46,199 2,061	132,162 7,574
Eliminated on disposal		(11,128)	(11,128)
At 31 March 2025	91,476	37,132	128,608
NET BOOK VALUE
At 31 March 2025	246,673	3,534	250,207
At 31 March 2024	252,186	5,952	258,138

continued ...

Page 17

DEWIS LIMITED

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

13. FIXED ASSET INVESTMENTS

FIXED ASSET INVESTMENTS
	Cash and
	settlements
	pending
	£
MARKET VALUE
At 1 April 2024	85,000
Disposals	(85,000)
At 31 March 2025
NET BOOK VALUE
At 31 March 2025
At 31 March 2024	85,000

There were no investment assets outside the UK.

This relates to cash on deposit with a maturity of more than one year held for investment purposes rather than to meet short-term cash commitments as they fall due. There are no such investments at year end 2025.

At the balance sheet date the average maturity of the deposits was 20.5 months (2023 no deposits). The average interest rate was 5.2%.

14.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

	2025	2024
	£	£
Trade debtors	101,370	78,199
Other debtors	30,224	47,987
Prepayments and accrued income	14,447	12,623
	146,041	138,809

15. CURRENT ASSET INVESTMENTS

CURRENT ASSET INVESTMENTS
	2025	2024
	£	£
Cash on deposit	220,000	139,479

This relates to cash on deposit with a maturity of less than one year held for investment purposes rather than to meet short-term cash commitments as they fall due.

At the balance sheet date the average maturity of the deposits was 6 months. The average interest rate was 3.4%

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

	2025	2024
	£	£
Trade creditors	4,121	18,306
Accruals and deferred income	13,693	15,781
	17,814	34,087

continued ...

Page 18

DEWIS LIMITED

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

17. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

				2025	2024
				£	£
	Within one year				2,160
18.	MOVEMENT IN FUNDS
			Net	Transfers
			movement	between	At
		At 1.4.24	in funds	funds	31.3.25
		£	£	£	£
	Unrestricted funds
	General fund	20,599	79,525	(79,524)	20,600
	Designated Funds-Capital Assets	251,538		(7,731)	243,807
	Designated Fund-Capital Spend	25,000			25,000
	Designated Funds-contingency
	planning-critical costs	315,000			315,000
	Designated Funds-Strategic planning	104,218		70,792	175,010
	Lloyds Foundation Grant	25,000		(25,000)
	Designated Funds-IT equipment, Media,
	Fundraiser Post			41,663	41,663
		741,355	79,525	200	821,080
	Restricted funds
	Restricted Funds- Capital spend building	6,600		(200)	6,400
	Moondance	8,000	(8,000)
		14,600	(8,000)	(200)	6,400
	TOTAL FUNDS	755,955	71,525		827,480

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

	Incoming	Resources	Movement
	resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	1,360,749	(1,281,224)	79,525
Mary Homfrey	2,000	(2,000)
	1,362,749	(1,283,224)	79,525
Restricted funds
Moondance		(8,000)	(8,000)
Mental Health Grant	12,017	(12,017)
South Wales Police ACE's Grant NPTCBC -Food Poverty	3,380 250	(3,380) (250)
Bond Grant	35,648	(35,648)
WG TSS Grant	44,808	(44,808)
NPTCVS Youth Fund	1,000	(1,000)
Community Cohesion Fund	1,250	(1,250)
	98,353	(106,353)	(8,000)
TOTAL FUNDS	1,461,102	(1,389,577)	71,525

continued ...

Page 19

DEWIS LIMITED

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

18. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Comparatives for movement in funds
		Net	Transfers
		movement	between	At
	At 1.4.23	in funds	funds	31.3.24
	£	£	£	£
Unrestricted funds
General fund	23,327	(6,536)	3,808	20,599
Designated Funds-Capital Assets	259,425		(7,887)	251,538
Designated Fund-Capital Spend	25,000			25,000
Designated Funds-contingency
planning-critical costs	300,000		15,000	315,000
Designated Funds-Strategic planning	115,000		(10,782)	104,218
Lloyds Foundation Grant	18,750	6,250		25,000
	741,502	(286)	139	741,355
Restricted funds
Restricted Funds- Capital spend building	6,800		(200)	6,600
Moondance	3,101	4,838	61	8,000
	9,901	4,838	(139)	14,600
TOTAL FUNDS	751,403	4,552		755,955

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

	Incoming	Resources	Movement
	resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	1,078,414	(1,084,950)	(6,536)
Lloyds Foundation Grant	25,000	(18,750)	6,250
	1,103,414	(1,103,700)	(286)
Restricted funds
Moondance	8,000	(3,162)	4,838
Mental Health Grant	12,017	(12,017)
South Wales Police ACE's Grant	13,156	(13,156)
NPTCBC -Food Poverty	5,000	(5,000)
Bond Grant	35,648	(35,648)
WG TSS Grant	44,808	(44,808)
NPTCVS Discretionary C.O.L	3,500	(3,500)
NPTCVS Youth Fund	1,000	(1,000)
	123,129	(118,291)	4,838
TOTAL FUNDS	1,226,543	(1,221,991 )	4,552

Page 20

continued ...

DEWIS LIMITED

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

18. MOVEMENT IN FUNDS - continued

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

		Net	Transfers
		movement	between	At
	At 1.4.23	in funds	funds	31.3.25
	£	£	£	£
Unrestricted funds
General fund	23,327	72,989	(75,716)	20,600
Designated Funds-Capital Assets	259,425		(15,618)	243,807
Designated Fund-Capital Spend	25,000			25,000
Designated Funds-contingency
planning-critical costs	300,000		15,000	315,000
Designated Funds-Strategic planning	115,000		60,010	175,010
Lloyds Foundation Grant	18,750	6,250	(25,000)
Designated Funds-IT equipment, Media,
Fundraiser Post			41,663	41,663
	741,502	79,239	339	821,080
Restricted funds
Restricted Funds- Capital spend building	6,800		(400)	6,400
Moondance	3,101	(3,162)	61
	9,901	(3,162)	(339)	6,400
TOTAL FUNDS	751,403	76,077		827,480

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

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:	A current year 12 months and prior year 12 months combined net movement in funds, included in the above are	A current year 12 months and prior year 12 months combined net movement in funds, included in the above are	A current year 12 months and prior year 12 months combined net movement in funds, included in the above are
	Incoming	Resources	Movement
	resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	2,439,163	(2,366,174)	72,989
Lloyds Foundation Grant	25,000	(18,750)	6,250
Mary Homfrey	2,000	(2,000)
	2,466,163	(2,386,924)	79,239
Restricted funds
Moondance	8,000	(11,162)	(3,162)
Mental Health Grant	24,034	(24,034)
South Wales Police ACE's Grant	16,536	(16,536)
NPTCBC -Food Poverty	5,250	(5,250)
Bond Grant	71,296	(71,296)
WG TSS Grant	89,616	(89,616)
NPTCVS Discretionary C.O.L	3,500	(3,500)
NPTCVS Youth Fund	2,000	(2,000)
Community Cohesion Fund	1,250	(1,250)
	221,482	(224,644)	(3,162)
TOTAL FUNDS	2,687,645	(2,611,568)	76,077

Funds

Unrestricted Designated Funds

Capital assets

The capital assets designated fund represents the surpluses which have been spent on capital assets. These surpluses are not available since the cash has been committed on such assets.

continued ...

Page 21

DEWIS LIMITED

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

18. MOVEMENT IN FUNDS - continued

Funds - continued

Capital spend

This represents capital funds that have been committed to capital spend at the year end for the next few years.

Contingency planning-critical costs

These funds have been designated to make sure that in the event of any major catastrophic issues the trustees are in a position to bring the charity to a controlled close and be able to meet all financial liabilities, lease obligations etc.

Strategic planning

The trustees have set a medium term, 5 year plan which sets out what the charity's is aiming to achieve over this period.

To achieve this plan the funds have been designated. The designated funds also include any projects planned within the medium term.

Designated Funds-IT equipment, Media, Fundraiser Post

These funds have been designated to purchase future IT equipment. These funds have been created by transferring funds from Strategic planning.

Restricted Funds

Capital spend building

The balance of restricted funds carried forward includes grants for the purchase of fixed assets and leases. Outgoing resources charged to the fund represent depreciation of fixed assets.

Lloyd Foundation, Moondance

These both grants were received within 23/24 but was for the period 1.4.24 to 31.3.2025. These were carried forward in reserves as at 1.4.24 and have now been spent within this year.

This has resulted in a transfer from Lloyds foundation funds in year to unrestricted funds to ensure the income goes against the costs incurred in the year.

19. RELATED PARTY DISCLOSURES

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

Page 22

DEWIS LIMITED

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

FOR THE YEAR ENDED 31 MARCH 2025	FOR THE YEAR ENDED 31 MARCH 2025
	2025	2024
	£	£
INCOME AND ENDOWMENTS
Donations and legacies
Donations	1,137	1,286
Investment income
Interest receivable	13,243	7,649
Charitable activities
Rent receivable	509,496	434,302
BCBC Contract RSASDS	414,108	389,057
NPTCBC Contract UASC Park	39,698	38,197
NPTCBC Contract CSS	188,714	188,191
Grants	100,853	151,041
NPTCBC Contract UASC 29	167,959
NPTCBC Contract Swan	7,926
	1,428,754	1,200,788
Other income
Sundry income	7,040	4,408
Bond claim reimbursement	1,675	455
Social services reimbursement	9,253	11,957
	17,968	16,820
Total incoming resources	1,461,102	1,226,543
EXPENDITURE
Charitable activities
Wages	728,720	714,219
Pensions	28,287	24,951
Rates and water	14,829	9,795
Insurance	9,301	7,740
Light and heat	47,286	49,741
Telephone	17,110	12,421
Postage.stationery, photocopier.IT	14,547	14,880
Sundries	357	27
Travel	7,251	7,839
Bank charges	137	303
Cleaning	3,966	3,682
Repairs, maintenance, renewals	33,533	30,415
Training and subscriptions	2,776	4,759
H.A.Management charge	166,481	124,045
Bond Guarantee Claims	1,675	455
IT systems	18,145	9,592
Grant -Community Cohesion Fund TSS office premises costs	1,250 10,697	12,222
Set up costs (29) Central office costs Social services YP costs	7,532 8,162	4,705 8,758 11,755
Security costs	200,996	127,514
Grant Expense Moondance	8,000	3,162
Grant Expense NPT CVS Youth Fund	921	1,000
Grant Expense	25,250	5,001
Bad debt		259
Carried forward	1,357,209	1,189,240

This page does not form part of the statutory financial statements

Page 23

DEWIS LIMITED

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

	2025	2024
	£	£
Charitable activities
Brought forward Depn of freehold property Depn of fixtures and fittings	1,357,209 5,513 2,061	1,189,240 5,513 2,573
	1,364,783	1,197,326
Support costs
Support costs
Auditors' remuneration	8,278	10,920
Accountancy	3,750	3,500
Governance costs	12,766	10,245
	24,794	24,665
Total resources expended	1,389,577	1,221,991
Net income	71,525	4,552

This page does not form part of the statutory financial statements

Page24

P a g e 1 | 20

Audit Findings Report

Table of Contents

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||| |---|---| |Executive Summary|............................................................................................................................................................ 2| |Introduction|....................................................................................................................................................................... 4| |Materiality|.......................................................................................................................................................................... 5| |Areas of significant risk|...................................................................................................................................................... 6| |Additional areas of audit focus|.......................................................................................................................................... 7| |Summary of misstatements|............................................................................................................................................... 8| |Internal Controls|................................................................................................................................................................ 9| |Appendix 1 - Independence and objectivity|................................................................................................................... 11| |Appendix 2 - Other Matters|............................................................................................................................................. 12| |Appendix 3 – Accounting Estimates|................................................................................................................................ 13| |Appendix 4 – Strategic, Financial & Governance Health Check|...................................................................................... 14| |Appendix 5 – FRS 102: Time of change|............................................................................................................................ 15| |Appendix 6 – Risks of Cyber Crime|.................................................................................................................................. 17|

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The contents of this report relate only to those matters which came to our attention during the conduct of our normal audit procedures which are designed primarily for the purpose of expressing our opinion on the financial statements and giving a value for money conclusion. Our audit is not designed to test all internal controls or identify all areas of control weakness. The terms and conditions, under which our audit will be performed, including our roles and responsibilities as auditors, are set out in our letters of engagement. These have been issued separately.

However, where, as part of our testing, we identify any control weaknesses, we will report these to you. In consequence, our work cannot be relied upon to disclose defalcations or other irregularities, or to include all possible improvements in internal control that a more extensive special examination might identify. We do not accept any responsibility for any loss occasioned to any third party acting, or refraining from acting on the basis of the content of this report, as this report was not prepared for, nor intended for, any other purpose.

P a g e 1 | 18

Audit Findings Report

Executive Summary

This report highlights the key issues affecting the results of the charity and the preparation of the financial statements for the year ended 31 March 2025 . It is also used to report our audit findings to management and those charged with governance in accordance with the requirements of International Standard on Auditing (UK) 260.

We are required to report whether, in our opinion, the charity ’s financial statements give a true and fair view of the financial position of the organisation and its income and expenditure for the year and whether they have been properly prepared in accordance with FRS 102.

Status of our audit	We have completed the majority of our audit work and the following items are outstanding: • Final financial statements • Signed letter of representation
Audit opinion	At the time of issuing this audit findings report and subject to a satisfactory conclusion to outstanding items, we expect to issue anunmodified audit opinion, as a result of concluding that the financial statements of the entity present a true and fair view.
Materiality	• Planning materiality:£29,000 • Final materiality:£29,00 • Benchmark used:2% of income
Audit risks & other areas of focus	We have no significant issues to note regarding significant audit risks and other areas of focus.
Accounting estimate and judgements	We have highlighted 4 key estimates and judgements. We have no issues to report in this area and considered the process of estimation to be appropriate and key assumptions to be well balanced for these items.
Internal controls	We have identified no internal control issues this year or in prior year.
Adjusted misstatements	• Number of adjustments made: 4 • Aggregated financial impact:£475 • Profit and loss impact: Increase in surplus

P a g e 2 | 18

Audit Findings Report

Unadjusted misstatements	• Number of unadjusted misstatements identified: 0 • Aggregated financial impact: none • Profit and loss impact: n/a
Independence	We are not aware of any relationships between Bevan Buckland LLP and the organisation, that in our professional judgement, may reasonably be thought to bear on our integrity, independence and objectivity at the date of the audit plan. Threats have been noted in our report and the safeguards applied.

P a g e 3 | 18

Audit Findings Report

Introduction

Purpose of this Report

The auditing findings report presents the observations arising from the audit that are significant to the responsibility of those charged with governance to oversee the financial reporting process, as required by International Standard on Auditing (UK) 260.

Responsibilities of the Auditor and Board

As auditor we are responsible for performing the audit in accordance with International Standards on Auditing (UK), which is directed towards forming and expressing an opinion on the financial statements that have been prepared by management with the oversight of those charged with governance.

The audit of the financial statements does not relieve management or those charged with governance their responsibilities for the preparation of the financial statements.

Objectives of our audit

The auditor’s objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes the auditor’s opinion.

Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with International Standards on Auditing (UK) will always detect a material misstatement when it exists.

Our audit work is designed to form an opinion on whether the financial statements:

• Give a true and fair view of the state of the charity affairs as at 31[st] March 2025 and of the charity’s income and expenditure for the year then ended;

• Have been properly prepared in accordance with:

• The Companies Act 2006;

• The Charity SORP – The statement of Recommended Practice for charities;

• UK Generally Accepted Accounting Practicing, namely FRS 102.

P a g e 4 | 18

Audit Findings Report

Materiality

In performing our audit, we apply the concept of materiality, following the requirements of International Standard on Auditing (UK) (ISA) 320: Materiality in planning and performing an audit. The standard states that 'misstatements, including omissions, are considered to be material if they, individually or in the aggregate, could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements.

In our audit plan presented to you in May 2025 we reported our planning materiality used in planning our overall audit strategy. In line with ISA (UK) 450, prior to the evaluation of uncorrected misstatements, we have considered whether it necessary to revise materiality.

As planning materiality was based on 2% turnover we have revisited our actual materiality to consider actual result for the period. Our audit work has been carried out using the revised materiality so has had no impact on our audit testing.

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Benchmark Planning Final
Entity 2% of income £29,000 £29,000
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We are obliged to report uncorrected omissions or misstatements other than those which are ‘clearly trivial’ to those charged with governance. We have applied the de minimis level of 5% of overall materiality reported in our audit planning report to the final materiality.

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

P a g e 5 | 18

Audit Findings Report

Areas of significant risk

We raised a number of significant risks in our audit plan where we detailed work we would be carrying out as part of our audit procedures. We performed procedures during the audit to address each of these risks and ensure the financial statements are free from a material misstatement. We set out our audit work and any other issues that we wish to bring to your attention

Audit risk	Work completed, issues & assurance gained
Revenue recognition	We examined and tested the process through which
	management has identified and quantified income.
There is a presumption that revenue recognition is	We also performed substantive testing on a sample
a significant risk on every audit engagement (ISA	of transactions and a proof in total calculation for
(UK) 240).	the rental income. We performed a number of
	Computer aided auditing techniques to gain further
Material misstatements due to fraudulent reporting	assurance.
can often results from an overstatement or
revenues, due to the potential to inappropriately	No issues were found in this area. Based on the
move the timing and basis of revenue recognition as	work undertaken we are satisfied that revenue
well as the potential to record fictious revenue.	recognition is not materially misstated.

Management Override of Controls Management override of controls should be considered a risk on every engagement (ISA (UK&I) 240.74) Management at various levels within an organisation are in the unique position to perpetrate fraud because of their ability to manipulate results by overriding controls that otherwise appear to be operating effectively. Material misstatements can arise from management overriding controls which are in place or by manipulating the results to achieve targets and the expectations of stake holders.

During the course of our audit we have undertaken the following procedures:

• Considered indication of management bias in accounting estimates and their overall appropriateness;

• Reviewing journal entries and other adjustments made at the end of the accounting period.

There are no issues we wish to bring to your attention arising from the procedures undertaken.

Completeness of grant income To determine that grants are included in the correct period in the financial statements and therefore matched against the corresponding costs.

We reviewed grants and reconciled them to the appropriate costs to ensure all included in the correct financial year.

Unused grants have been carried forward to be used against related costs next year in accordance with the Charities SORP.

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Audit Findings Report

Additional areas of audit focus

Although not considered to be significant risks, we raised a number of additional areas/risks given specific consideration due to the nature of the area and the risk of material misstatement in our audit plan. We performed procedures during the audit to address each of these areas/risks and ensure the financial statements are free from a material misstatement.

Audit risk	Work completed, issues & assurance gained
Fund balances and transfers To ensure the income and costs in each scheme appear accurate and are in line with previous year.	We agreed transfers between funds. We ensured income brought forward have been used against the related costs this year. The income and costs in each scheme have been checked to ensure that they have been allocated to correct scheme. Funds and transfers have been done correctly.

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Audit Findings Report

Summary of misstatements

We are required to report all items above our trivial threshold to those charged with governance, whether or not the financial statements have been adjusted by management.

Unadjusted misstatements

Below is a summary of any potential adjustments identified during the course of our audit except for those deemed trivial. In line with ISA (UK) 450 ‘Evaluation of misstatements identified during the audit’ we will require a written representation confirming the reasoning for not making these adjustments.

There are no unadjusted misstatements

Adjusted misstatements

	Income Statement	Income Statement	Balance sheet	Balance sheet
	Dr £	Cr £	Dr £	Cr £
1	420	-	-	420
Movement inprepayments from lastyear’sprepayments to thisyear
2	-	1,826	1,826	-
Movement in accruals from last years accruals to this year. 3 357 - 11,128 11,485
Old assets this year was scrapped and one asset for Giant Grave property had not been written down to nil, so asset wrote off.
4	574	-	-	574
Increase in depreciation, aprovision made but this is the extra depreciation needed toget accounts right.
Total	1,351	1,826	12,954	12,479

The overall impact of the adjustments would result in a £475 positive surplus.

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Audit Findings Report

Internal Controls

The purpose of an audit is to express an opinion on the financial statements. The matters reported here are limited to those deficiencies we have identified during the course of the audit and that we have concluded are of sufficient importance to merit being reported to you.

Our audit included consideration of internal controls relevant to the preparation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of internal control. We considered and walked through the internal controls for year ended 31 March 2025.

Control issues are categorised according to the level of risk attached:

A significant weakness that presents a risk of material misstatement and/or the potential of financial loss. A recommendation that should be taken into consideration immediately.

A significant deficiency that presents a risk of significant misstatement and/or an area where business efficiency needs to be enhanced. A recommendation that should be taken into consideration in the near future.

A deficiency that presents a risk of inconsequential misstatement. A recommendation that should be addressed when practical.

We have identified the following number of control issues in the year:

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- - -
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We identified no internal control issues.

P a g e 9 | 18

Audit Findings Report

Follow up on prior year audit control weaknesses

The following summarises the progress made to implement recommendations identified in our prior year audit findings reports.

We identified no internal control issues in our prior year audit findings report.

General recommendations

A control weakness refers to a deficiency or failure in an internal control system that could potentially lead to errors, fraud, or inefficiency in financial reporting or operations. A general recommendation, on the other hand, is a suggestion or advice made by the auditor for improving business practices, internal controls, or operational efficiency.

These are often based on best practices or improvements that could strengthen the organisation but are not necessarily immediate threats. General recommendations are typically less urgent or critical than control weaknesses. They suggest areas where improvements can be made, but they are not indicative of immediate risk or non-compliance.

Area

Recommendation

Internal control formulisation

With the growth in company there is minimal formally documented controls in place. Internal controls enable the company to keep the operating efficiently and effectively and the controls can help maintain compliance with regulations. Not having documented controls can also hinder transition periods such as growth and succession. A formally document is produced documenting key controls to spread a company wide effective control to minimize risks, protect assets and promote the company’s objectives.

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Appendix 1 - Independence and objectivity

ISA 260 ‘Communication with those charged with Governance’ and good practice require us to outline the following:

• Details of all relationships between Bevan Buckland LLP and Dewis Limited.

• Confirmation that the auditor complies with Ethical Standards.

• Safeguards in place to eliminate identified threats to independence.

Bevan Buckland LLP is required to maintain independence from Dewis Limited in line with the Ethical Standard (2019) issued by the Financial Reporting Council (FRC) and the ethical pronouncements established by the auditor's relevant professional body, in our case the Institute of Chartered Accountants in England & Wales. In addition, our reputation and continued success as a firm depends on us maintaining auditor independence.

Independence and ethical standards

In our judgement we have complied with the UK regulatory and professional requirements including the Ethical Standard (2019) issued by the FRC. We are not aware of any relationships between Bevan Buckland LLP and Dewis Limited, that in our professional judgement, may reasonably be thought to bear on our integrity, independence and objectivity at the date of the audit plan. As a result we are able to express an objective opinion on the financial statements.

How we ensure this:

• We have made enquires of all Bevan Buckland LLP teams providing services to you for compliance matters to ensure our independence is maintained.

• Reviewing and assessing our independence is a continual process throughout the audit cycle.

• We have procedures in place to ensure that any conflicts of interest of which we are aware are communicated to the board of management and appropriate action taken.

• Engagement letter stating that those charged with governance notify us if they become aware of any person becoming connected with Bevan Buckland LLP.

• Written representations from those charged with governance confirming there are no such matters at the conclusion of the audit

Safeguards

Threat	Safeguard
Accountancy work	Dewis management will agree any journals needed to complete the financial statements
Payroll services	Payroll is performed by the payroll department at Bevan Buckland LLP, which are completely independent to the audit staff.

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Appendix 2 - Other Matters

Fraud	Our audit approach is designed to obtain reasonable assurance that the financial statements as a whole are free from material misstatement due to fraud. It is those charge with governance’s responsibility for the design, implementation and maintenance of internal control to prevent and detect fraud. We have not been made aware of any material incidents in the period and no other issues have been identified during the course of our audit.
Laws & regulations	You have not made us aware of any significant incidents of non-compliance with relevant laws and regulations and we have not identified any incidences from our audit work.
Written representations	A letter of representation has been requested from the board, including specific representations. This has been provided externally to this report.
Related parties	In forming an opinion on the financial statements, we are required to evaluate whether identified related party relationships and transactions have been appropriately accounted for and disclosed. We have not identified any significant matters in this area. Written representations will be obtained from those charged with governance that: • they have disclosed to us the identity of related parties that they are aware; and • they have appropriately accounted for and disclosed such relationships and transactions.
Disclosures	Our review found no material omissions in the financial statements
Accounting policies	The accounting policies used to prepare the financial statements are considered to be appropriate and are in accordance with the relevant accounting standards.
Subsequent events	We are required to obtain evidence about whether events occurring between the date of the financial statements and the date of the auditors report require adjustment of, or disclosure in, the financial statements in accordance with UK GAAP. Included in the letter of representation is a point confirming all events subsequent to the balance sheet date that requires adjustment or disclosure have been done so.

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Appendix 3 – Accounting Estimates

Accounting estimates vary widely in nature and are required to be made by management when the monetary amounts cannot be directly observed. The measurement of these monetary amounts is subject to estimation uncertainty, which reflects inherent limitations in knowledge or data. The process of making accounting estimates involves selecting and applying a method using assumptions and data, which requires judgement by management and can give rise to complexity in measurement. We have outlined below a summary and how we assess the key accounting judgements applied by management.

We consider the estimate to potentially be materially misstated and disagree with judgements used to derive the estimate or estimation process

We consider it unlikely that the estimate is materially misstated, however we consider assumptions used in the estimation process to be optimistic

We consider it unlikely that the estimate is materially misstated, however we consider assumptions used in the estimation process to be cautious

We consider the process of estimation to be appropriate and key assumptions to be well balanced

As part of the requirements of ISA (UK) 540 we will require written representations whether the methods, significant assumptions and the data used in making the accounting estimates and the related party disclosures are appropriate to achieve recognition, measurement or disclosure that is in accordance with applicable reporting framework and as such has been included on the draft letter of representation provided.

	Key Estimate	Value £’000	Status/Recommendation
	Economic life of assets (depreciation)	£7,574	An estimation of the useful economic life of the organisation’s assets and are based on industry standards adjusted to reflect the charity own experience and maintenance procedure.- Estimate is as expected.
	Bad debt provision	nil	Provision is made to the extent that they are considered by management not to be recoverable at their full value. The level of provision is based on historical experience and future expectations, this year it is concluded that a bad debt provision is not required. -From bad debt audit work we can also conclude no bad debt provision is necessary.
	Prepayments	£14,446	Prepayments have been prepared from invoices received in the year.-as per our audit work they appear acceptable.
	Accruals	£12,836	Accruals have been based on actual invoices where available and estimated based on latest available information. -as per our audit work they appear acceptable.

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Appendix 4 – Strategic, Financial & Governance Health Check

Strategic Check	Current year	Prior year
Organisation states strategic objectives and reports progress against these
objectives
Are the activities of the organisation in line with the organisation objectives?
Organisation has a long term strategy/plan?
Organisation produces an annual budget and report against budget?
Financial Check	Current year	Prior year
Unrestricted surplus (before pension adjustment)
Net current assets
Positive “free reserves”
Reserves policy in place & reserves in line with this policy?
Appropriate level of reserves are required?
Documented financial controls?

Risk Check	Current year	Prior year
Risk register in place?
Risk register regularly reviewed
Have all risks been identified?
Appropriate actions taken in response to risks identified?

Governance Check	Current year	Prior year
Sufficient board meetings held in the year with minutes kept?
Is the financial reporting to the board clear, transparent, readily understood by all board members at each meeting?
Have the board reviewed their internal controls recently?
Have the board carried out a skills audit?
Do you have procedures in place to deal with conflicts of interest?

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Appendix 5 – FRS 102: Time of change

The FRS released their exposure draft FRED 82 in December 2022 and the finalised amendments published in March 2024 for changes to UK GAAP.

When do changes become effective

The changes to FRS 102 will become effective for periods starting on or after 1[st] January 2026 , with early application permitted. The is one exception, new disclosure requirements about supplier finance arrangements must be provided for periods commencing on or after 1 January 2025.

At face value, this seems quite far away, but you will need to collect data, make accounting judgements and implement systems/tools ahead of this date.

What are the major changes

Revenue recognition

Amendments to section 23 of FRS 102, a five step model of revenue recognition has been introduced based on IFRS 15. The new approach will apply to all contracts with customers and requires businesses to identify the distinct performance obligations or promises to deliver goods or services. The five step model approach requires:

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----- Start of picture text -----
||| |---|---| |Step 1|•Identify the contract(s) with a customer| |•Identify the performance obligations within that contract –| |Step 2| |e.g. to deliver goods or services| |Step 3|•Determine the transaction price| |Step 4|•Allocate the price between performance obligations| |•Recognise revenue for each performance obligation as (or| |Step 5| |at the point when) it is fulfilled|

----- End of picture text -----

Currently, if you hit a ‘roadblock’ when recognising revenue, a common sense call from a range of potential options is made. There will be a right answer under the new five step approach. Revenue accounting will be more consistent, but it will also mean that organisation who have picked a different answer – not the ‘chosen one’ in the new rules – may need to change. This could impact the timing of revenue recognition.

Lease Accounting

Like the IFRS approach all leases will be brought on to the balance sheet, so if the organisation uses operating leases you will be effected. The removal of the distinction between an operating lease and finance lease means:

• Upon commencement of a lease a right of use asset will be recognise and a corresponding lease liability for the present value of future lease payments; and

• Instead of operating lease expenses in the profit and loss/income and expenditure an interest expense will be recognised and depreciation of the right of use asset.

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Note there are two exemptions to this rule which would be disclosed:

• Leases running for less than 12 months from their start, or (on transition) less than 12 months from the start of the first year under new rules, can optionally continue to be expensed as short-term leases; and

• Leases for assets which (when new) were worth less than a small car – which will capture most laptops, photocopiers, or coffee machines – can optionally continue to be expensed as low value leases.

Considerations

Revenue recognition

Ask yourself the following questions to better understand how the changes will affect your organisation:

• Do you understand the new five step model and which of your organisations revenue streams could be impacted?

• Do any of your contracts have multiple goods or services that might need ‘unbundling’?

• Do any contracts have variable consideration or other complexities that may need accounting judgements?

• Will we need to update any processes or controls for the changes?

• How confident could you apply the five step model?

Lease Accounting

As part of the planning process consider:

• What leases does the organisation have? Are there any short term or low value leases?

• How do you determine the lease liability:

• That is the term? Initial non-cancellable period in addition to any other period at the start of the lease where both parties are reasonably certain to extend;

• What are the lease payments over the period?

• Can you value the right of use asset?

• What would be your discount factor?

Other impacts on the organisation

Loan covenants

Changes in timing of revenue recognition and bring leases on to the balance sheet will affect EBITA, ratios, debt covenants, etc. This will depend on what agreements state about changes to UK GAAP and new lending before application will differ compared to current lending.

Budget/forecasts

You will need to consider the impact of changes before they become effective for periods starting on or after 1[st] January 2026 as part of your budget setting for they first year they are effective.

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Appendix 6 – Risks of Cyber Crime

Risks to organisations from Cyber Crime

• Financial Loss : Cyber-attacks can lead to significant financial losses.

• Data Breach : Sensitive data about employees, volunteers, donors, and beneficiaries can be stolen.

• Reputation Damage : A cyber-attack can harm the charity’s reputation.

• Service Disruption : Attacks can disrupt the charity’s operations and services.

Here are some of the most common types of cyberattacks:

1. Malware :

• Description : Malicious software designed to harm or exploit any programmable device, service, or network.

• Examples : Ransomware, spyware, trojans, worms.

2. Phishing :

• Description : Fraudulent attempts to obtain sensitive information by disguising as a trustworthy entity.

• Examples : Spear phishing, whaling, smishing (SMS phishing), vishing (voice phishing).

3. Denial-of-Service (DoS) Attacks :

• Description : Overwhelming a network or service with traffic to make it unavailable to users.

• o Variants : Distributed Denial-of-Service (DDoS) attacks.

4. Spoofing :

• Description : Disguising as a known or trusted source to gain access to systems or data.

• Examples : Email spoofing, domain spoofing, ARP spoofing.

5. Identity-Based Attacks :

• Description : Exploiting stolen credentials to gain unauthorized access.

• Examples : Man-in-the-middle attacks, credential stuffing, brute force attacks.

6. Code Injection Attacks :

• Description : Injecting malicious code into a vulnerable application to alter its behavior.

• Examples : SQL injection, cross-site scripting (XSS), malvertising.

7. Supply Chain Attacks :

• Description : Targeting third-party vendors to compromise their clients.

• Examples : Injecting malicious code into software updates.

8. Social Engineering Attacks :

• Description : Manipulating individuals into divulging confidential information.

• Examples : Pretexting, business email compromise (BEC), disinformation campaigns.

• Insider Threats :

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• Description : Threats from within the organization, often by employees or former employees.

• Motivations : Financial gain, coercion, negligence.

10. DNS Tunneling :

• Description : Using DNS queries and responses to bypass security measures and transmit data.

• Impact : Allows hackers to extract data or control systems.

• IoT-Based Attacks :

• Description : Targeting Internet of Things (IoT) devices to gain control or steal data.

• Examples : Compromising smart devices, creating botnets.

• AI-Powered Attacks :

• Description : Using artificial intelligence to enhance the effectiveness of cyberattacks.

• Examples : Deepfakes, AI-generated social engineering.

Preventive Measures

• Awareness : Ensure everyone in the charity is aware of cyber risks.

• Training : Provide cyber security training to trustees, employees, and volunteers.

• Policies : Develop and implement policies to respond to cyber attacks.

By understanding these risks and threats, organisations can take steps to protect themselves and mitigate potential damage.

ee. >. National Cyber G oy fi ese EAS Secu rity Centre a part of GCHO Alpe

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Bevan::Buckland LLP Chartered accountants, tax and financial planners "Your Local Financial Team" Ground Floor, Cardigan House, Castle Court, Swansea Enterprise Park, Swansea. SA7 9LA 01792 410100 [e-mail] ) (f