Cfjmpgny reglstratlon number: 03661S62 Cjwlty regtstrjdw nurnbr. 1078995 TWO RHYfHMS LTD TRusfEES' REPORT AND UNAUDrrED FINANCIAL sfATEMeMTS FOR THE YEAR ENDED 31 MARCH 2025 C•thedral Road C4rflff CFII 9trL4 Page Indq>end¢rt exam1￿$ Report St*eTh*rt of Anandal k¥vl¥es (Induthng Income and gxp￿dknre fvmxrt) Statermnt of Poslilon 9-10 Notes to the Rnandal Ststem 11-17 The followlng pages do not form pwt of the staakny att(Kmts: Detalled Statement of Anarthl AC￿ {Induth8 frKome and Exp•thirè Account) 18-20 Company tlo. 036BIS62 Yrustaqs. Report For The Year Ended 31 M•Vth 2025 The trustees present thelr report and the nnancl81 statements lor th• year ended 31 March 2025. ObJertlve$ and Actlvltl Alm• and ObJe¢tlv•* The financlal statements have been prepared In accordance wlth the occounttng pollcles set out In note I to the ftnanclal statements and tomplv viith the ch?rtty'S 9ovemlng document. the Companles Att 2006 and "Attountln9 and RepwUn9 by Charttles- Statement of Recommended Prnctlce ppllcable to charlttes p￿partfi9 their accotsnts In acconlbnee wlth tho Financial Repo￿n9 StaTrJbrd applluble In the UK and Republk of Irelènd {FRS 102) leffectlve l January 20191". Publ1¢ B•n¢llt To Provlde educatlonal and Therapeutlc progrnmmes lor the benefit ol people wlth profound physlcal and teamlryj dlsobllltles by nurturlng trtailvlty and self-confldenee through parteclpaiion In the creatlve arts ond through the dellvery of wowkshop trnlnlng. The trustees conflrrn that they hjve complted wlth th¢ r¢qulr•ments of Sertlon 17 of Ihe Chjrltles Art 2011 to due rtyard to the Charfty Cornmlyslon's guldanco on publlc beneflt. Athla¥omonts and Parfornianco Maln Achl•vem•nts O¥orvJffjw of Flnjndal Yonr 2024129 Thls year has been one of tranSl￿On, 9rowth. and achleyament for th• Iwo Rhythms. We have navlgateil oryanlsatlonal chJnges, expjndqd our phy%tcal presence, and celebrnted key mSlestones, all made posslble by the dedlcatton and pamlon of our stall. who •nsvr• the thadty ¢)perJte• smoothly overy djy, W¢ enter th¢ next phose wlth optlrnlsm lor further growth and lrnpact, In Aprll 2024, a néw I￿alr, wlth a longstandlng connettion to the th•rlty. was appolnted. Nèw knjrtaei lolned In Autumn 2024, SUPPOrted by a succe#Alon plan to maintaln oovemanct contlnulty Ind brlng In Iresh perspértlves ￿ temil èxplre. The charlty formally rebranded In May 2024. chonglng Its name from'Touch Tr￿t Umlted. to'￿ Rhythms Ltd * r4glst•r•d wlth Comp•nl•i Mou and the Chadty Commlsslon. In August 2024. the Touth Trurt Foundatlon was closed. and Its lunctlons were lully Intogrjted Into Tho Rhythmi Ltd. Our second slte opened late In 2024. provldlng •ddltlonal copadty, Improved access lor guerts and ¢arers, enhonced stor•ge and 8drnlnlstratlon 5Pate, and gre•i•r optr•tlon•l flexlblllty. Th• Sli• h•£ been well recelved by Iht tommunlty. compllmerttlng th• ortglnal locatlon and welook forword to ddvlng Its usjge to cJpJclty. In March 2025, the thartty celebratedlts 25th annlversary wlth an event #t the Senedd, att¢hd¢d by gu¢st$, f•mlll¢s, carets. partners, itakehold•rn. and Julle Morgan MS. The event hlghllghted the charfty'$ a¢hlev¢m¢nts and offers apportunltles lor greater polltlul ¢ngJg•mert to Influence arts d h•alth polly 4fid fvrth•r sypport tho ¢ommunlty we s•rv•. ..CONTINveD For T*￿ Year Ended 31 M¥th 2025 Resourdng kvds ha¥r l)een conslstw* IhmJ9hout th55 y**. wAth onty ) In £tsitr&ts. All c(Krtraaed stsff remaln In post. In September 2024, we recrulted four new. Part-￿Me Crea￿ve Facllliator5. Some of whom wlll pwovlde the nec¥4ry capa¢Sty for tyjr secoThl slte. As thelr tralnlng spanned several months. these new colleag￿$ worked alowJstde the extsbng team. galnlThg valuable exPerftn￿. Jn the Autumn of 2024. OUr'Pwr￿rr* Prc*Jects Ilanw to a ne￿￿-￿*t& 'HÈad of Programme,. T1￿5 ¢harwJe rellécts our new pdorltte5 to broaden the wogramTho and reath famSThes ar￿ parudpants. It atso IAthd5 on ourwork wlth the Unlversity of South Wale5, helplng io artfculaie a dlnlcal ba*$ for our To assist thts role. a wrt-tlffle'Pro9rnmme Ass151anV was appolnted on a SiX-mth)th ternporary contracL M•rnbershlp The re¥lsed membership rnodel has successfvlly retslned as rftany membews a5 however. provlders confjnue to face finaftoal and optrattonal pretylres due to thè onwng lrnpart of the cost-of41¥tn9 ulsls on the health and sooal care sector& Membershlp remalns a key el•nent PY4rtfternhlps Durln9 the year. the thadty ¢¢(labonttd wlth the Unl¥er* of Soth ￿e$ on an Indewdent researth syoject e¥aluaUn9 the work ofTwo Rhythms. From late 2024 tv earty 2025. fooJ5 grou￿ condLthLI wlth lattdlles. caregiver5. wovlder members. and Tryo R￿m5 staff. Earfy n1￿1Th95 are womlsln9. ark1 partlc*ant leedbad( ￿11 help Infom the ttwws futUTÈ growth plans. The results of ihe study are due to be publlshed In &Jmrner 2025. In Sprlng 2Q25, the D￿¢￿￿• Outreach Project fvnded by tt* Mccarthy & Stone FowthUon. cth)wr*ed. Th15 Inlllatfve brought Two Rhythms. sesslons to a senlor m provlder. benefitin9 35 re9dents a5 a5 thetr famllles and carets. Delivèred ¢>vÈr slx rnonths. ihe projett thduded the creaiion ol a'sensw memw ￿t. to akni part6dpants to conllnue with the objetts used durfng the sesslons. Foll¢)wlng vnlver5ally posftfj¥e Flmndal Revlèw Hmnclal Po￿[￿n F•mrd Iwlr to FIM•d•l Year 2025126 • DeVelO￿l￿t of a comkYeh￿$fve shte9k plan Ivr the cornlng years, settlr4 Out tl*t dwilys Iw-term goa& and mllestty* • Revlew of the organlsatk)n* Mbslon and vlslon wlth lry>ut Irom trustees ar￿ siaff. •tsurlTrg they accurately refiert PUWP05e and fvture dlrecuon. • Publleatl¢)n of academk F*search step to engagln9 new pathews ar￿ Stakeho￿ to broaden our reach and Im • Update of ihe govemlrMJ docuffwt tQ fellect the ttwivs r*w name and enswe that the dutyptWJn of rAr•thitYes aThJ m•Trbershlp rnètd￿ our curyent wwk and remalr6 dear. ojrrent and tit lor purpo CONnNUEO Th*ees' Aeport (contlnuad) For The Year Ended 31 Mardb 2025 xanckl Posltlon- ￿ntInUed • Management of hek1 funds aid reset%*s ty pladn9 them In a ￿k￿biterest acc￿ hdplng th￿ to g&)traie better retums and support futyjre Inwme needs. • Recrultrnent of addliSonal trustees ￿ A￿nn 202$ 10 5treftgth￿ g¢*ert￿ and in new thlls and experierte. Reser¥•s Pollcv rnonths of essertwal ¢osts. and tht5 ts re￿e1¥ed p￿￿(alty. The free reserves of Ihe tharity. as of 31st Marth 2C124t repre￿1•1 funds fr• mllable 10 spend. arKwndn9 to £218.162. Governlng The chaW Is cofitrolkd by rts g)¥emirwJ document. a deed of tntsL and C￿nStiti￿ a Ilmked compary* Ilrnlted by guaTrrtee, 35 deflned by the Companles Act 2006. The Mar*gement Comrnlttee condutted a review ol Ihe m)itir risks to whkh the d*rtty ts exposed. A ¢ Tr¥ppMlb* for *re￿r￿{Tr9 A th• thaitty tnffjtQQs oftheC4mparrf (•nd tho Its dlrothrl trthe pu Itot th• oftho Compiny •FE Mt rèwrqd to bv uknP¥t 10 d Iha 2006 Attand arn etlqlb* fv I r•ptht ITh respoct ol •xamlnakn otyour KLtNtnts 414¥nl•d w4¥on 145 olth ChorltteB Art 2011 y out mv exwxln•Uon I followed th• DlrndloA8 by th• Commith ¥n¢or Se¢Uon 145(5) (b) Of the 2011 2011 W. In In M¢¢*+ 145 41#* XIAI l unRn Ihtlarnqu ¢• undtylth the e¥arnlnB¥on bEWAa I af, *thkh1soK olthe I 3 th¢ Ibwndal JtsiBrrronts ¢tu vrfth the requlr4ments ol**¢n 396 ofthe 200S Act•llwll• wy rnqthTh¢rtihtiJ aco)Itnri a true and hlr vlew vthlth li fflot a Matterconthv￿ afan Ind¢￿t tr4mlrwtton' or 4 the Ilntndal 8tii¢mth Mt b¢¢ awurAlrffj and rtl by thrfues ap rod IN wlth th mthod8 and wtndpkn oftho Ststemert of fternrnmn￿ Pmdlta tsr th UK 8nd Romi (FRS IOZ , to thoTiUes wop&rfng thqlr a(co￿ts IN wlth ¢h FlnBnd41 Rfjportlw styftthrd appt1￿ In Ca CFAI 9HA Two Rhythms Ltd Ststsmont ol Flnandal Aetl¥lttes (Indudln9 Encomé and Ewrtdlturo A (5.651) {5,6511 {133.313) 11051 1133,4181 (18.971> {220,0411 (49,2551 1269.2961 1204,192} {57.6601 5.987 151,6731 193.292 NRT (ExpeNDrnIRE)IINCOME Tran$l•rs b•two•n lund$ 17 {139,9711 139,97J {197,6311 145,958 151,6731 193,292 NET MOVEMENT IM FVNOS RECONCILIATXON OF FUNDS: Total funds brought forward TOTAL FUNDS CAweD VORWARD 218,162 20,531 51.180 269.342 76,050 197,138 217,669 269,342 17 Th• notes ￿ Pa9￿ 11 to 17 fom part ol th￿0 ftnandal Ititemqnts. P•9¢ 7 For The Yur End•d 31 14Br¢h 2025 2024 fimd• fund INCOME AND EIIDOWIIE14TS PROM¥ Donarions ar￿ legatyes Charltable ac¥vltles'. Charltoble Actlvltle5 Inv•8tmen 206.798 138.886 50.818 189,704 982 346,666 50.818 397.484 EXPeNDrnIRe 011: Charftable Kllvllles: amlng dlsabll1￿S tharltaNe fvxtlvltf•l (159,804) (25,4171 1185.221> (18.971} {18.9711 1178.77S1 (25.4171 1204,1921 l67.891 25,401 193,292 NeT INCO•IE IieT MOVEMENT IN AINDS RECONCIUATION OP FIINDSI Total funds brought lorwar TOTAL FUNDS CAIIRZED FOAWAAD 167.891 25,401 193.292 SO.271 218.162 25.779 76,050 SI.180 269,342 17 Th• noths on paw 11 to 17 forni part rf thtt• flnandal #•t•iitriis. At JI •tsvEh 44.1x1 I97j￿ 24 48.2 197.138 382 287.993 7,713) 20,531 197J30 214669 269J42 20.$31 197.138 21 24S31 197.130 217,669 269J42 197,U• 20,531 214162 217.669 269,342 On b*foflh¢both1 l(0112120Z F(* The Year Errf1￿ 31 March 2025 Tryo Rhythms Ltd Is a cowry Ilmlted by guarantee, Erwland & Wales• regIts￿ nurnber 03681562 aNI wlsteyed thadty ￿rnber 1078995. The reglstered offlce ts . The financ1￿ gtstemerts have prepared In acconlance ¥vlth the Ch•rities SORP IFRS 1021 "Ac. 2025 2024 Wages and salaTiÈS Soclal sewrfty costs Other penskjn cosrs 154.477 2,215 2,981 159,673 130,9S4 4,028 2,503 137,485 No wnployees recelved employee benefits (excludln9 ernployer penslon costs) for the F¢POrtFng perjod of more than £60,000. 11. Av•rn9e Number of Employee Averag• ThJmber of employees durlng the yèar wa5.. 812024: 8) 12. Tan9lble A#•ets Lllnd f4 Propertv Le••ehold Plant & Flxlures & Machlnory Flttln9S Total As at l Aprll 2024 As at 31 March 2025 90.657 90.657 21,119 21,119 40,163 40,163 151.939 151,939 D¢pre¢l4tlo• A5 at l Apdl 2024 As at 31 March 2025 90,6S? 90.657 21.119 21.119 40,163 40,163 151.939 151.939 Ilot Book V¥lye As at 31 March 202$ As at l Aprm 2024 13. Debto 2025 2024 Due wlthlth one year Tradè debtows 4.094 6.611 Page 14 Two Rhythms Ltd Ntst￿ to th• HD4n¢lal Staternents (contlTrued) For Tho Y•ar 31 Marth 2025 14. Cmdltovs: Amounts Fallln# Du• Wlthln Orw Y¢•r 2025 2024 Trade credltors Other credltors Taxatlon and soc*1 sec￿fty Accruals and deferred Incorne 11,447 797 6.177 9,292 27,713 8.318 2.572 7.761 18,651 15. 1)efetrthl Income Deferred Income movements In the year We￿ as follows.. 2025 2024 Balance at the start of the pertod Income deferred In the current Pe￿0d Amounts ￿leaSed In Income from prevlous perfods Balance at the eftd of tht period 1.980 1.988 1.980 (1.988) 1.980 (1,980) 16. Pwwlon Commltments The charftable company operdtes a defined cortrfbutlon pensl¢)n sthème. The assets ol th• St￿Me are held separately from those of the tharftable company In an Independenily admln15tered fvnd. Durfjng the year the charge to the 5¢aternent of fina￿la1 4rt6vltles In respert of defined contrlbuvon schemes was £2.981 {2024: £2.5031. At tr* ststsment of financtal posltion date contrlbutions of ENIL were due to the fvnd and are included In credltors. 17. Mov¢m¢rt fn Pyndg Asat31 A8ati Marth Aprll 2024 lTrc•mo Expendnur• Transfers 2025 Vnrestrl¢t¢d funds General: GeneTrl unre5trlcted l￿d Educatton and Therapy 218.162 147.568 14.813 {220.041) 1125.158) (14.813) 20.531 Total UhMgirlct•d fund$ 218.162 162.381 {220,0411 1139,971) Re#trfct￿ fvnds Restrlrted Funds 362 1363) ..co￿￿NuED PJge 15 Two RhYthA￿ Ltd Not¢$ to the FlTranclal Statements (c•ntlnued} For The Year Ended 31 March 2025 GVS PO8L Trust Foundlng Communlty Foundatton Wales YMCA Blackemore Mccarthy srone Founrfatlon NL Tr Hafan CFW Vnlverslty Research Cardlff Educatlonal ErKlowrnert Fund Location 2 CPC WCVA Reslllan Business Invesbnent Rèvenue Support Contlng¢ncy 19,347 1.000 19,587 4,000 loo 6,784 16.944 (18.607) 117.678) (1.000) (12.337) {26,937) {155) (4,000) iioo) (6,784) 19,687 155 6,677 6,887 (1,551) (2.895) 5.126 3,992 7,350 5.985 7.350 14.813 981 19901 85,190 84,000 5.489 (8,8281 (4,8831 3,902 990 85.190 84,000 5.489 Total ro¥trlct4d funds 51.180 55,242 (49,2SS1 139,971 197.138 T•)tal fvnds 269.342 217,623 {269,2961 217,669 at31 Mar 11.280) (133.418) (18,971) 1269,296) {204.192) (51,673) 193.292 IIEf (EXPENDrruRE}IIHCOME Page 20 f4rfur• (tsl llno *lth ow ml•*n •fid Ytsiqn). Inlarn rorni *hlth Is slfted V•rTl&•Y•r Endod 31 Day to dy for opv4llon oftl* thrtty wtth the CtrtkfExeuJtrdo Ottkv(C￿). ThD CW 14kn JtyK• . Dlre¢t¢r(•ppolnted 0¥0911024) Samvsrnpu. 0lrEdor Nvs Fothn JoanM- Olrrthr ( olrted 2610gn025) Jorns. ( ted 26mn02S) 036$￿61 Cardwr t7119HA P4go 4