Charity registration number 1076680 (England and Wales) Company registration number 3516328 DIGARTREF CYF. ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 A11 АЕНБУФАВ 11/12/2025 COMPANIES HOUSE
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DIGARTREF CYF. LEGAL AND ADMINISTRATIVE INFORMATION Trustees Secretary Charity number Company number Registered office • Auditor Accountant M Blackburn J G Fraser KA Grifths B A Hughes J Morgan ME Roberts K Grifiths E Lloyd Burns H Buckingham M Pulford A Greenough 1076680 3516328 Units 1, 2, 4 & 5 Holyhead Enterprise Centre Kingsland Road Holyhead Anglesey LL65 2HY Crestmere Limited Unit F1, Intec Ffordd y Parc Parc Menai Bangor Gwynedd United Kingdom LL57 4FG Azets Brynford House 21 Brynford Street Holywell Flintshire United Kingdom CH8 7RD Appointed 4 October 2024 (Appointed 11 Octobe 2024) (Appointed 1 April 2025)
DIGARTREF CYF. CONTENTS Trustees' report Statement of Trustees' responsibilities Independent auditors report Statement of financial activities Balance sheet Statement of cash flows Notes to the financial statements Page 1-4 5 6-8 9 10 - 11 12 13-27
DIGARTREF CYF. TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The trustees present their annual report and financial statements for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts i accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" Objectives and activities The company was formed to promote the relief of those who are homeless in Northwest Wales, to offer then support in their areas of need, and to support them in achieving independent living. Public benefit The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake and how successful outcomes should be evaluated. Achievements and performance Significant activities and achievements against objectives The overall performance of the charity throughout 2024/25 has been excellent and all services have been able to meet the needs of those within our community affected by homelessness. An in-depth overview of Digartref Cy's achievements and performance over the year will be outlined in its 2025 Annual Report, which will be published in time for the AGM in October 2025. Digartref Cyf's Supported housing services for young people aged 16 to 25 continue to be highly utilized, with a steady source of referrals being received via the local authority, with few voids suffered during the financial year What is notable is that it is becoming more difficult to move people on to an affordable long-term home due to the lack of options available to them e.g. very few one bed accommodation in the social housing sector, along with high number of people on the housing allocations register, and limited choice in the private rented sector wher competition is high and weekly rent charges are unaffordable for the client group. This means that young people are staying with the charity for longer than was the case a couple of years ago. To prevent homelessness from occurring in the first place for young people in particular, the local authority has beer keen to utilise the Charity's highly successful Mediation and Family Led Intervention programme. One of the mair aims of this service is to reduce the instances of family relationship breakdown which can often lead to young people being asked to leave the family home, causing the young person to have to present as homeless to the local authority. In seeking to adopt a preventative approach to this situation, the local authority has allocated just under 40k of Housing Support Grant to this service, providing longer term financial security for the charity's Mediation an -amily Led Intervention programme and increasing its ability to continue to positively impact on reducing yout! - 1-
DIGARTREF CYF. TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 much needed and utilised services. Digartref Cyf was also successful in securing a further one year's funding from the Welsh Government under the Youth Innovation Grant, and through working in partnership with the Isle of Anglesey County Council was able to continue delivering the Llety Pontio Project. This project enables the provision of temporary accommodation with support for young people aged 16 to 25 who might otherwise have to be accommodated in emergency B&B To summarise, this has been a challenging and busy 12 months for the charity financially, due mainly to the loss of long term established funding and the requirement to secure new funding streams as well as maintaining others hrough the retendering process. Thanks to the hard work of key staff and the support of the Trustees, the financi hallenges that presented themselves were overcome, allowing for the continuation and expansion of Digartre Cyf's homeless prevention services. Financial review Reserves policy It is the policy of the charity that unrestricted funds which have not been designated for a specific use should b maintained at a level equivalent to between three and six month's expenditure. The trustees consider that reserves at this alies ensure that deration is give a ways at drop andia the maybe aise one reares has been maintained throughout the year. -2-
DIGARTREF CYF. TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Plans for future periods community against the ever-challenging funding stream changes. In addition to the continued successful delivery of some of the charity's core services, Digartref Cyf have been 26, we are highly optimistic that we will be able to report on its success in meeting the needs of young people in the next year's annual accounts, and the charity's annual report. The charity has been able to realise one of its long-term goals, which is to redevelop one of its assets, the Holyhead Enterprise Centre into a Homeless Hub. Enabling the re-siting of the Lighthouse Day Centre into a purpose designed facility. This will assist in ensuring there is capacity to support the increased numbers of individuals accessing the service over the last few years and support an effective partnership approach to providing wrap around services to some of the most vulnerable individuals in our society. This has been made possible through the support of the National Lottery Community Fund "People & Places" having awarded a capital grant allocation of £500,000, In addition the Community Facilities Programme has awarded a further £300,000. Without this substantial financial support, the exciting new development would not have been possible. The related construction work is currently under way, and we anticipate a return to the building in late August earty September 2025. The success of its future operation will be reported on in the coming years. Unfortunately, the charity and its close working partners such as the local authority continue to have to manage the high level of demand on related services. It is highly likely that this will continue to be the case for the foreseeable future. The charity continues to work with and support people with complex needs, those that may find it difficult to access and maintain accommodation for multiple reasons. This is further compounded by issues of affordability, accessibility, and limited suitable housing stock. The high cost-of-living continues to impact our service users and our staff daily. The aim of the charity it to continue to provide support for those that needed it and provide a competitive salary and renumeration package for those who work Diagrtref Cyf. Structure, governance and management The charity is a company limited by guarantee and governed in accordance wih its Memorandum amd Articles of Association. -3-
DIGARTREF CYF. TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The trustees, who are also the directors for the purpose of company law, and who served during the year and up t the date of signature of the financial statements were M Blackburn J G Fraser KA Griffiths B A Hughes D LI Jones C A Kirkwood N Lane J Morgan FD P Morgan-Hamilton Resigned 19 May 2025 Resigned 13 July 2024 (Resigned 26 February 2025) (Resigned 10 January 2025) ME Roberts K Griffiths E Lloyd Burns H Buckingham M Pulford (Appointed 4 October 2024) (Appointed 11 October 2024) (Appointed 1 April 2025) Recruitment and appointment of trustees latters and monitor operation None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up. Auditor In accordance with the company's articles, a resolution proposing that Azets be reappointed as auditor of the company will be put at a General Meeting. The Trustees' report was approved by the Board of Trustees. A Greenough Creamouf 9 December 2025 -4-
DIGARTREF CYF. STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025 The arise Trustes also ta directors or a stare is in or are or a eleanore in Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 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 charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; • make judgements and estimates that are reasonable and prudent • state whether applicable UK Accounting Standards have been followed, subject to any material departure: disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. - 5-
DIGARTREF CYF. INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF DIGARTREF CYF. Opinion We have audited the financial statements of Digartref Cyf. (the 'charity') for the year ended 31 March 2025 which Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). 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, for the year then ended; - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; 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 Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity 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 onditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a goin oncern 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 other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. 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 ir the course of 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. Matters on which we are required to report by exception We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: the information given in the financial statements is inconsistent in any material respect with the Trustees' report; or - sufficient accounting records have not been kept; or the financial statements are not in agreement with the accounting records; or we have not received all the information and explanations we require for our audit. - 6-
DIGARTREF CYF. INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF DIGARTREF CYF. Auditor's responsibilities for the audit of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. 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 an auditor's report 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. A further description of our responsibilities is available on the Financial Reporting Council's website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. Extent to which the audit was considered capable of detecting irregularities, including fraud Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council's website, to detect material misstatements in respect of irregularities, including fraud. We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud. In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included: • Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud; • Reviewing minutes of meetings of those charged with governance; • Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the entity through enquiry and inspection; • Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations; • Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financiai statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. - 7-
DIGARTREF CYF. INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF DIGARTREF CYF. This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's 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 charity and the charity's Barrie Buels FCCA FCIE For and on behalf of (Senior Statutory Auditor) Crestmere Limited Chartered Certified Accountants Statutory Auditor 9 December 2025 Unit F1, Intec Ffordd y Parc Parc Menai Bangor United Kingdom LL57 4FG - 8 -
DIGARTREF CYF. FOR THE YEAR ENDED 31 MARCH 2025 Notes Unrestricted Restricted funds funds 2025 2025 € Income from: Donations and legacies Charitable activities Other trading activities Investments Total income Expenditure on: Charitable activities 6 7 Actuarial gains/(losses) in respect of pension 13 schemes Net incoming resources before transfers Gross transfers between funds Net income/(expenditure) for the year/ Net movement in funds Fund balances at 1 April 2024 Fund balances at 31 March 2025 11,907 1,583,308 74,283 18,732 1,688,230 1,553,672 43,000 177,558 18,444 196,002 1,024,245 1,220,247 Total Unrestricted Restricted funds funds 2025 € 2024 € 2024 11,907 : 1.583,308 : 74,283 18,732 1,688,230 - 1,553,672 - 43,000 - 177,558 (18,444) - (18,444) 177,558 259,327 1,283,572 240,883 1,461,130 7,845 1,352,820 65,826 9,602 1,436,093 1,423,846 (6,000) 6,247 18,444 24,691 999,554 1,024,245 Total 2024 7,845 : 1,352,820 : 65,826 9,602 1,436,093 1,423,846 (6,000) - 6,247 (18,444) - (18,444) 6,247 277,771 1,277,325 259,327 1,283,572 The statement of financial activities includes all gains and losses recognised in the year. he statement of financial activities includes all gains and losses recognised in the year. All income and expenditur erive from continuing activitie he statement of financial activities also complies with the requirements for an income and expenditure accou nder the Companies Act 200 - 9-
DIGARTREF CYF. BALANCE SHEET AS AT 31 MARCH 2025 Fixed assets Tangible assets Current assets Debtors Cash at bank and in hand Creditors: amounts falling due within one year Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year Provisions for liabilities Net assets Income funds Restricted funds Unrestricted funds Designated funds General unrestricted funds Notes 15 16 2025 1,028,192 17 391,744 1,226,115 1,617,859 (634,405) 18 19 983,454 2,011,646 (490,516) (60,000) 1,461,130 21 22 240,883 228,314 991,933 1,220,247 1,461,130 - 10 - 2024 € 534,640 63,016 1,188,458 1,251,474 (399,542) 851,932 1,386,572 - (103,000) 1,283,572 259,327 228,314 795,931 1,024,245 1,283,572
DIGARTREF CYF. BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Acl 2006, for the year ended 31 March 2025. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The Comers la A 210, ree yearn question in in an dunce of is faion stalements under the requirements These financial statements have been prepared in accordance with the provisions applicable to companies subjec to the small companies regime. The financial statements were approved by the Trustees on 9 December 2025 embeltyles Trustee Company registration number 3516328 =ting - 11 -
DIGARTREF CYF. STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 Cash flows from operating activities Cash generated from operations Investing activities Purchase of tangible fixed assets Proceeds from disposal of investments Investment income received Net cash (used in)/generated from investing activities Financing activities Repayment of bank loans Net cash used in financing activities Net increase in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year Notes 25 486,880 (510,955) 43,000 18,732 (449,223) - - 37,657 1,188,458 1,226,115 - 12- 2024 € 384,850 (6,000) 9,602 3,602 (6,317) (6,317) 382,135 806,323 1,188,458
DIGARTREF CYF. NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 1 Accounting policies Charity information Digartef Cyf. is a private company limited by guarantee incorporated in England and Wales. The registered office is Units 1, 2, 4 & 5 Holyhead Enterprise Centre, Kingsland Road, Holyhead, Anglesey, LL65 2HY. 1.1 The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met the amounts can be measured reliably, and it is probable that income will be received. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution contingen asseknown, and receipt is expected. If the amount is not known, the legacy is treated as e - 13-
DIGARTREF CYF. NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 1 Accounting policies 1.5 (Continued) Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Freehold land and buildings Leasehold land and buildings Freehold improvements Equipment, fixtures and fittings Office Equipment Not depreciated 25 years straight line 25 years straight line 30% reducing balance 30% reducing balance The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceed: and the carrying value of the asset, and is recognised in the statement of financial activities Deprecaition is provided at the rate of 30% (reducing balance) per annum on equipment, fixture and fitings. Indvidual items costing less than £1,000 are not capitalised. Premises acquired and developed by the Charity are depreciated on a straight line basis over a period of 25 years starting in the year of commencement of operations from these premises following their acquisition and redevelopment. Impairment reviews are carried out on a regular basis. 1.7 Impairment of fixed assets At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indicatio exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less. 1.9 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. - 14 -
DIGARTREF CYF. NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 1 Accounting policies (Continued) Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilites 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. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.10 Provisions Provisions are recognised when the charity has a legal or constructive present obligation as a result of a past event, it is probable that the charity will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation. The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in net income/(expenditure) in the period in which it arises. 1.11 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 2 Critical accounting estimates and judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accountin estimates are recognised in the period in which the estimate is revised where the revision affects only tha period or in the period of the revision and future periods where the revision affects both current and future - 15 -
DIGARTREF CYF. NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 3 Income from donations and legacies Unrestricted funds 2025 11,907 Unrestricted funds 2024 7,845 Donations and gifts 4 Income from charitable activities Unrestricted funds 2025 1,583,308 Unrestricted funds 2024 € 1,352,820 5 Unrestricted funds Grants and rents Grants received amounted to £1,205,621 (2024: £1,141,825) Rents received amounted to £377,687 (2024: £210,995) Income from other trading activities 6 Office charges and contributions Management income Other trading activities Income from investments Unrestricted Unrestricted funds funds 2025 2024 € 74,283 - 74,283 56,073 9,753 65,826 Bank interest received Unrestricted Unrestricted funds 2025 funds € 2024 € 18,732 9,602 - 16-
DIGARTREF CYF. NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 7 Expenditure on charitable activities Direct costs Staff costs Depreciation and impairment Rent, rates and insurance Heat and light Advertising and recruitment Support, travel and subsistence Training costs Other charitable expenditure Share of support and governance costs (see note 8) Governance Unrestricted Unrestricted funds 2025 funds € 2024 € 1,116,801 936,882 17,403 19,731 161,477 138,734 38,918 36,011 3,058 2,134 21,815 18,074 14,078 14,809 168,198 252,152 1,541,748 1,418,527 11,924 1,553,672. 1,553,672 5,319 1,423,846 1,423,846 8 Analysis by fund Unrestricted funds Support costs allocated to activities Governance costs Analysed between: Unrestricted funds Governance costs comprise: Audit fees Legal and professional AGM costs 2025 € 11,924 11,924 2025 € 3,120 8,055 749 11,924 2024 5,319 5,319 2024 3,120 1,512 687 5,319 - 17-
DIGARTREF CYF. NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 9 Net movement in funds The net movement in funds is stated after charging/(crediting): Fees payable for the audit of the charity's financial statements Depreciation of owned tangible fixed assets 2025 2024 € 17420 3,120 19,731 10 Trustees 11 None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. Expenses paid to trustees amounted to Enil (2024: Enil) Employees The average monthly number of employees during the year was: Llys y Gwynt and Floating Support staff Coedlys and Floating Support staff Outreach staff Learning for Life and Mediation Lighthouse & Resettlement/Canada Gardens Rural Homelessness (Lottery) Relief staff Chief Executive Officer and managers Finance and administration staff Cleaners and caretakers Total Employment costs Wages and salaries 2025 Number 8 7 3 3 5 3 2 4 3 2 40 2025 € 1,116,801 Only one employee received emoluments in excess of £60,000, falling in the band of £60,000 to £70,000. 2024 Number 8 7 3 3 5 3 2 4 3 2 40 2024 € 936,882 - 18-
DIGARTREF CYF. NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 12 Pension scheme - Defined Benefit The company participates in the The Social Housing Pension Scheme (the Scheme), a multi-employer scheme which provides benefits to some 500 non-associated employers. The scheme is a defined benefit scheme in the UK. The Scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on occupational pension schemes in the UK he last triennial valuation of the scheme for funding purposes was carried out as at 30 September 2017. Thi aluation revealed a deficit of £1,522m. A Recovery Plan has been put in place with the aim of removing th deficit by 30 September 2026. The Scheme is classified as a 'last-man standing arrangement. Therefore the company is potentially liable for other participating employers' obligations if those employers are unable to meet their share of the scheme leficit following withdrawal from the Scheme. Participating employers are legally required to meet their shar of the Scheme deficit on an annuity purchase basis on withdrawal from the Scheme For financing years ending on or after 31 March 2019, it is possible to obtain sufficient information to enable the company to account for the Scheme as a defined benefit scheme. Actuarial valuations of the scheme were carried out as at 30 September 2024 to inform the liabilities for the accounting year ended 31 March 2025. The liabilities are compared, at the accounting date, with the company's fair share of the Scheme's total assets to calculate the company's net deficit or surplus. Present Values of Defined Benefit Obligation, Fair Value of Assets and Defined Benefit Asset (Liability) 31 March 2025 E000's Fair value of plan assets Present value of defined benefit obligation Surplus (deficit) in plan Defined benefit asset (liability) to be recognised 382 442 (60) (60) 31 March 2024 £OOO's 447 550 (103) Reconciliation of the Impact of the Asset Ceiling Period ended 31 March 2025 €O00's Impact of asset ceiling at start of period Effect of the asset ceiling included in net interest cost ctuarial losses (gains) on asset ceilin npact of assets ceiling at end of perio : - 19 -
DIGARTREF CYF. NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 12 Pension scheme - Defined Benefit Reconciliation of Opening and Closing Balances of the Defined Benefit Obligations Period ended 31 March 2025 £000's 550 (Continued) Defined benefit obligation at start of period Current service cost Expenses Interest expense Member contributions Actuarial losses (gains) due to scheme experienc ctuarial losses (gains) due to changes in demographic assumption Actuarial losses (gains) due to changes in financial assumptions Benefits paid and expenses Defined benefit obligation at end of period Reconciliation of Opening and Closing Balances of the Fair Value of Plan Assets - (60) (16) 442 Period ended 31 March 2025 £000's 447 22 (100) Fair value of plan assets at start of period Interest income Experience on plan assets (excluding amounts included in interest income) - gain (loss) Employer contributions Member contributions Benefits paid and expens at end of period The actual return on the plan assets (including any changes in share of assets) over the period ended 31 March 2025 was (£78,000) Defined Benefit Costs Recognised in Stateent of Comprehensive Income (SOCI) Period from 31 March 2024 to 31 March 2025 €000's Current service cost Expenses Net interest expense Defined benefit costs recognised in Statement of Comprehemsive Income (SoCI) Defined Benefit Costs Recognised in Other Comprehensive Income (OCI) 3 5 8 Experience on plan assets (excluding amounts included in net interest cost) - gain(loss) Experience gains and losses arising on the plan liabilities - gain (loss) Effects of changes in the demographic assumptions underlying the present value of the defined benefit obligation - gain(loss) Effects of changes in the financial assumptions underlying the present value of the defined benefit obligation - gain(loss) Total actuarial gains and losses (before restriction due to some of the surplus not being recognisable) - gain(loss) Total amount recognised in Other Comprehensive Income - gain (loss) Period ended 31 March 2025 (€000's) (100) 60 - 22 22 - 20-
DIGARTREF CYF. NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 12 Pension scheme - Defined Benefit (Continued) Key Assumptions 31 March 2025 % per annum 31 March 2024 % per annum Discount Rate inflation (RPI) Inflation (CPI) Salary Growth Allowance for commutation of pension for cash at retirement 5.85 3.09 2.79 3.79 75% of max allowance 4.90 3.15 2.78 3.78 75% of max allowance The mortality assumptions adopted at 31 March 2024 imply the following life expectancies: Life expectancy at age 65 (Years) Male retiring in 2024 Female retiring in 2024 Male retiring in 2044 Female retiring in 2044 20.5 23.0 21.7 24.5 Assets Global Equity 31 March 2025 (£000's) 43 Absolute Return Distressed Opportunities Credit Relative Value Alternative Risk Premia 31 March 2024 (f000's) 45 17 16 14 Liquid Alternatives Emerging Market Debt Risk Sharing Insurance-Linked Securities Property Infrastructure Real Assets Private Debt Opportunistic Illiquid Credit 26 2 18 45 - 18 17 Private Debt Credit Investment Grade Credit High Yield Opportunistic Credit Cash Corporate Bond Fund 5 Liquid Credit Long Lease Property Secured Income 6 Liability Driven Investment Currency Hedging Jet Current Asset 1 Total Assets 382 9 - 3 13 182 1 447 one of the fair values of the assets shown above include any direct investments in the employer's ov nancial instruments or any property occupied by, or other assets used by, the employe - 21-
DIGARTREF CYF. NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 13 Actuarial gains/(losses) In respect of pension schemes Actuarial gain/(loss) in respect of pension schemes Unrestricted Unrestricted funds funds 2025 2024 43,000 (6,000) 14 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 15 Tangible fixed assets Freehold land Freehold and bulldings improvements € € Cost At 1 April 2024 697,949 Additions At 31 March 2025 697,949 510,955 510,955 Equipment, fixtures and netings 177,781 - Total 177,781 875,730 510,955 1,386,685 Depreciation and impairment At 1 April 2024 Depreciation charged in the year At 31 March 2025 181,412 11,972 193,384 : 159,678 5,431 165,109 341,090 17,403 358,493 Carrying amount At 31 March 2025 At 31 March 2024 504,565 516,537 510,955 12,672 18,103 1,028,192 534,640 The Trustees are of the opinion that the net book value if buildings does not exceed open market value at the balance sheet date. 16 Debtors Amounts falling due within one year: 2025 € 2024 € Trade debtors Other debtors Prepayments and accrued income 144,409 236,023 11,312 391,744 10,373 34,030 18,613 63,016 - 22-
DIGARTREF CYF. NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 17 Creditors: amounts falling due within one year Other taxation and social security Deferred grants Trade creditors Other creditors Accruals Notes 20 18 Creditors: amounts falling due after more than one year Notes 20 Capital grants 19 Provisions for liabilities Retirement benefit obligations Movements on provisions: 20 At 1 April 2024 Reversal of provision At 31 March 2025 Government grants Deferred income is included in the financial statements as follows: Deferred income is included within: Current liabilities Non-current liabilities Movements in the year: - 23- 2025 € 14,870 386,463 215,991 5,882 11,199 634,405 2025 € 490,516 2025 60,000 2025 € 386,463 490,516 876,979 2024 € 13,694 322,435 19,239 14,951 29,223 399,542 2024 € 2024 € 103,000 103,000 (43,000) 60,000 2024 322,435 - 322,435
DIGARTREF CYF. NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 20 Government grants Deferred income at 1 April 2024 Released from previous periods Resources deferred in the year Deferred income at 31 March 2025 322,435 (322,435) 876,979 876,979 (Continued) 36,811 (36,811) 322,435 322,435 - 24 -
DIGARTREF CYF. NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 21 Restricted funds Thusesticted funds of the chatty comple the unopended balances of donations and grants held on trust subject lo spacil contions by donors as to how they may 5-7----- 277,771 (18,444) 259,327 (18,444) 240,883 Restricted Income fund 22 Designated funds Dignated mortal mentin 37,979 200,000 : (8,665) (9,665) 28,314 200,000 228,314 € 28,314 200,000 228,314 - 25-
DIGARTREF CYF. NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 23 Analysis of net assets between funds At 31 March 2025: Tangible assets Current assets/(liabilities) Long term liabilities Provisions At 31 March 2024: Tangible assets Current assets/(liabilities) Provisions Unrestricted funds 2025 € 1,028,192 742,571 (490,516) (60,000) 1,220,247 Unrestricted funds 2024 € 534,640 592,605 (103,000) 1,024,245 Restricted funds 2025 € 240,883 : 240,883 Restricted funds 2024 € 259,327 259,327 24 Related party transactions There were no disclosable related party transactions during the year (2024 - none). 25 Cash generated from operations Surplus for the year Adjustments for: Investment income recognised in statement of financial activities (Gain)/loss on disposal of investments Depreciation and impairment of tangible fixed assets Movements in working capital: (Increase)/decrease in debtors Increase in creditors Increase/(decrease) in provisions Increase in deferred income Cash generated from operations 2025 € 177,558 (18,732) (43,000) 17,403 (328,728) 170,835 (43,000) 554,544 486,880 - 26- Total 1,028,192 983,454 (490,516) (60,000) 1,461,130 Total 2024 534,640 851,932 (103,000) 1,283,572 2024 € 6,247 (9,602) 6,000 19,731 37,102 33,748 6,000 285,624 384,850
DIGARTREF CYF. NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 26 Analysis of changes in net funds The charity had no material debt during the year. - 27 -