Charity registration number 1082058 Company registration number 04011164 (England and Wales) KEEP WALES TIDY ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
KEEP WALES TIDY CONTENTS Page Trustees, report Statement of trustees. responsibilities Independent auditorfs report 10-12 Statement of financial activities 13 Balance sheet 14 statement of cash flows 15 Notes to the financial statements 16-30
KEEP WALES TIDY TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annual report and financial statements for the year ended 31 March 2024. 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 company's goveming document, the Companies Act 2006 and "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 In accordance with the Memorandum of Assoaation. the objects for which the Company is established are.. The protection, preseNation, and enhancement of the environments of town and country in Wales, for the general benefit of the Welsh nation at large. The education of all sectors of the Community and the promotion of awareness of the ways in which the environment is at risk, and of ways in which this can be minimised so that the use of sustainable waste management praCtIS may be encouraged. At Keep Wales Tidy we.. Take action to make a positive difference. Put people at the heart of everything we do. Protect our environment for now and for the fLrture. Our vision is "a beautiful Wales cared for and enjoyed by everyone" To bring about our vision and to spell out what it means in practical terms, we think that a beautiful Wales= Consists of responsible communities and businesses that enjoy a clean and attractive urban, rural, and coastal environment. Recognises that environmental education is at the centre of achieving the IAÈles we want and where future generations appreciate the value of our natural environment and wildlife. Benefits from a neOrk of accessible, high-quality green and blue spaces -such as parks, footpaths, nature reserves, rivers, canals, lakes, and beaches-which are available for everyone to enjoy. Public Benefit Keep Wales Tidy works to achieve "A beaLrtiful Vwdles, cared for and enjoyed by everyone." We believe all the people of Wales and its visitors benefit from a cleaner and greener country. This includes fewer places blighted by litter, fly-tipping, unauthorised graffiti, and dog-fouling, together with better access to the countryside, improved biodiversity and more community and green spaces. Keep Wdles Tidy welcomes participation from people across Wdles and we do not discriminate or restrict access to our work. We celebrate diversity and are committed to continuing to create an inclusive environment for all. Our Values We continue to work by and weave our values into everything we do. Decision-making procedures, company policies, and staff reflection meetings are some examples of how we reflect our values through our work. Passionate - Proud to care for Wales and our communities. Together- Strength in partnership. Bold - Ready to challenge and innovate. Inspiring - Supporting people to be the change. Responsible- Always considering the impact of our Yrk.
KEEP WALES TIDY TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achievements and performance Overview of the Year- 2023124 2023-2024 has been a period of considerable progress across all Keep Wales Tidy's programmes. We are delighted to have seen many projects grow in both scale and impact this year, thanks to increased support from existing funders and the introdudion of several new funding streams. To meet the rising demand for our services, we have increased our headcount, including the creation of a small number of new managerial roles to ensure efficient operational delivery, while maintaining our regional organisational structure. Our commitment to a local, community-focused approach continues, now bolstered by an expanded offir neork. In response to findings in our most recent Investors in People Award. where we retained our gold standard, we invested in a range of training and well-being initiatives for our staff. This achievement not only reflects our commitment to creating a positive work environment but also plays a crucial role in attracting and retaining talented individuals who are passionate about our mission. Being a great place to work ensures that we continue to draw in the best people to help us achieve our goals, and we were delighted to be noted as the 51h best Not for Profit to work for {UK-wide) in a rent Best Companies poll. As in previous years, we remain committed to ensuring a balanced mix of restricted and unrestricted funding to support our activities, and we wll continue to explore the development of new commercial income streams to reduce our dependence on restricted grant fvnding in future. Delivering against our Strategic Plan 2022-2030 - Beautiful Wales Our strategy for the decade, Beautifijl Vwdles, remains an ambitious and relevant one. To realise the aims it sets out. Keep Wales Tidy works collaboratively with government, public bodies, schools, and local communities to take positive sustainable actions. with long-term benefits for our health, well-being, and natural environment. As outlined in that strategy. Keep Wales Tidls work can be categorised into 4 pillars, namely 'Eradicating Litter and Waste,, 'Empowering Young People,. 'Creating and Restoring Green Spaces,. and 'Setting Standards for Environmental Sustainability,. The following section highlights how we performed against those pillars over the course of this year- Eradicating Litter and Waste In 2023124, 28,833 volunteers spent 70.272 hours supporting our Local Environmental Quality work, making use of our Caru Cymru litter pickings hubs. litter-free zones, and litter champion programme to do so. Litter Picking Hubs: This year. there were 236 active litter picking hubs across Wales. These hubs, where we lend volunteers kit free of charge. have become focal points for community action, supporting the work of 5,836 volunteers (a 3x increase on the previous year), all making a meaningful contribution towards ensuring deaner public spaS for Welsh communities. Litter Free Zones.. The number of organisations signed up as Litter Free Zones (both schools and businesses) increased to 412, with 3,129 volunteers making use of them throughout the year. This remarkable growth stands out as a near-doubling in engagement compared to previous years Policy: We continue to work closely with the Welsh Govemment to inform their LEQ (Local Environment Quality) policy work, with Extended Producer Responsibility IEPR) payments and the revision of the Code of practi on Litter and Refuse {COPLARI being priorities this year. We also engaged in relevant consultations with stakeholders across the UK, advocating for policies that further our charitable aims, such as the ban on single use plastics and emerging concerns around single use vapes. Campaigns: Our 'Make Memortes Not Mess. campaign was refreshed during the year, delivering a comprehensive package of digital media and outdoor advertising throughout August. The campaign raised awareness of tourism-linked-litter and encouraged the public to enjoy natural spaces responsibly.
KEEP WALES TIDY TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 We also worf(ed dosely with Hubbub, Ellipsis Earth, and local authority partners to deliver an innovative, Al-enabled roadside litter campaign in Cardiff and the Vale of Glamorgan which led to a reduction of 230kn in littering inStsn$ locally. Empowering Young People Young people, and providing them with the skills, experience, and knowledge they need to become future climate leaders, are central to Keep Wales Tidy's mission. This commitment is exemplified by our Youth Board. a panel of 1etr25-year-olds who help shape our work by contributing their lived experien, ideas, and constructive challenges at quarterly meelings. It is a vital part of our governan process and ensures that the voices of future generations inform our decision-making processes. The YoLrth Board operates under a mission statement defined by its members.. °Empowering young leaders to build a more beautiful Wales through bold action and diverse voices.. In addition. our Eco-schools Wales programme worked with over 1.100 schools during the year. which includes more than 900kn of primary schools. Eco-schools is designed to empower and inspire young people to make positive environmental changes to their school and wder community. while building on their skills, including numeracy and literacy, and encompassing Education for Suslainable Development and Global Citizenship. In Wales in 2023124, 112 schools advanced to higher award levels, with 87 Platinum Eco-schools participating in National Eco Committee events. Creating and Restoring Green Spaces Accessible green spaces provide a haven for people and nature. improve health and well-being, and protect Biodiversity. Through our conservation work we.. Engage local communities. organisations. the public sector, and schools to create biodiverse, pollinator spaces and community food growng opportunities across Wales. Support communities to improve nature on their doorsteps by creating new community gardens across Wales. Focus activities in deprived. urban. and peri-urban area. that suffer from a lack of accessible green space. Tailor our programmes to ensure they are fully indusive and prioritise the people who need them most. Local Places for Nature. funded by Vlelsh Govemment. is our flagship green spaces programme, where we provide and install pre-paid community gardens that support nature and enhance biodiversity within local communities, particularly those within urban and peri-urban areas: In 2023124. we approved and installed 286 garden packages. providing tools, equipment, and support to communities across Wales. The feedback from recipients has been overwhelmingly positive, most highlighting the project's success in improving local biodiversity. participant mental health, and community cohesion. Some of these sites have also gone on to receive Green Flag for Parks community awards, highlighting the exceptional efforts made by volunteers to care for and enhance these sites once installed. We were also successful in securing development funding from the National Lottery Heritage Fund for a new 'Urban Long Forest, project. building on our previous experience with the Long Forest initiative. The project aims to raise awareness and involve urban communities in looking after hedgerows and ancient trees, and we will be working in partnership with Coed Cadw, Adult Learning Wales, Llais y Goedwig and local authorities to further develop the project over the next financial year. Setting Standards for Environmental Sustainability Ensuring environmental quality sits at the core of Keep INales Tidy's purpose. In 2023124, a record 280 Green Flag for Parks Awards were awarded in Wales, with 180 of those being Community Green Flag Awards,. these are awarded to community Sltes that are maintained and run by volunteers.
KEEP WALES TIDY TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 In addition to the 25 Full Blue Flag avRrds awarded in 2023124, 14 beaches in Wales were also awarded the Green Coast Awards which recognizes 'hidden gems, along the Welsh coastline. A total of 12 beaches achieved the Seaside Award for the standard of their facilities and water quality with three new sites at Llantsvit Major. Penarth. and Souihemdown. In future years we will continue to manage and grow participation in award programmes which drive environmental excellence. We will also continue to work with the Welsh Government and local authorities to ensure that these standards are recognised as key performance indicators. Furthermore, The Tidy Wales Awards continue to play a vital role in recognising and celebrating the eXptIOnal efforts of volunteers and communities across Wales in maintaining high environmental standards. This year's event was held at the Royal Welsh College of Music and Drama, and we were delighted to be joined by over 100 incredible Change makers at the event, as well as our ambassadors, sponsors, and partners. Foundation for Environmental Education (FEE) Membership As a proud member of the Foundation for Environmental Education (FEE), Keep Wales Tidy holds the exclusive rights to deliver several of their prestigious environmental programmes in Wales. induding Eco-schools, Blue Flag for beaches, and Green Key. Our partnership wth FEE not only enhances the qualty and reach of our programmes but also aligns us with global efforts to promote environmental education and sustainable practices. Through this membership, we collaborate th global partners on a range of relevant issues, contributs-ng to global change and ensuring that Wales remains at the forefront of environmental sustainability initiatives. Measurement and Evaluation We are committed to measuring the impact of our initiatives and tracking progress towards our objectives. We do this through a range of primary and secondary research, induding our annual LEAMS activity, continuous project evaluation, surveys, and the collection of volunteer data through our bespoke e-count Cymru platform. These insights directly inform our operational and policy priorities, including our work on EPR and DRS (Deposit Returns Scheme). We also use a range of visualisation platforms to highlight the impact of our projects, including Openstreetmap. These maps are hosted on our website on the relevant project pages. Local Places for Nature - htt s'.Iluma enstreetma .frlenlma Ilocal- laces-for-nature 450995 Eco Schools - htt s'.Ilkee walestid mruleco-schoolsniow-it-workslour-schoolsl Green Flag for Parks- htt s:Ilkee walestid mrulour-worklawardsl reen-fla arksl CoastAwards- htt s.Ilkee walestid mrulour-worklawardslwales-coast-awardsl Litter Picking Hubs- htt s.'Ilkee walestid mrulcaru- mrullitter- ickin -hubs1 Litter Free Zones- htt s.'Ilkee walests'd mrulcaru.c mrullitter-free-zonesl We are currently developing a public platfomi which y11 enable extemal partners to explore this and other volunteer data through a centralised interactive map - htt s'.Ilkee walestid mrulim Financial Performance Our financial position remains stable. supported by positive cash flow management and a number of successful grant funding applications. We have continued to manage our resources efficiently, ensuring that we can sustain our activities and expand our impact. Notable financial highlights indude.. Grants and Funding.. We secured funding from the Shared Prosperity Fund and various trusts and foundations, enabling the continuation and expansion of key programmes. This financial support has been vital in maintaining our operations and developing new initiatives. Unrestricted Reserves.. Efforts are ongoing to build up our unrestricted reserves, which have been reduced in recent years. These reserves are crucial for our long-term sustainability, providing a buffer against future uncertainties and enabling us to invest in growth opportunities.
KEEP WALES TIDY TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Looking Ahead As we move into the next finanaal year, our focus wll remain on expanding our reach and impact. Key areas of focus will include.. Educational Programmes Expansion" We plan to expand our educational programmes to reach more schools and young people, particularfy those in secondary schools. In expanding our reach to secondary schools, we aim to ensure continuity of environmental education from eady learning to lifelong habits. This 'lust to dust, approach ensures that young people carry fomard the lessons learned about sustainability, reinforcing positive behaviours as they grow. Financial Stability.. Ensuring continued financial slability and building our unrestricted reserves will be key priorities. We will seek diverse funding sources and implement prudent financial management practices to support our long-term growth and sustainability. Conclusion We are proud of the progress made in 2023-2024 and remain committed to our mission of keeping Wales tidy. The achievements outlined in this report would not have been possible without the hard work and dedication of our staff, volunteers, and partners. We extend our heartfelt thanks to everyone involved and look forward to another year of positive impact. Our continued success relies on the collective efft)rts of our community, and we are excited to build on this year's accomplishments to fijrther enhance the environmental quality and well-being of Wales. Financial review There has been a breadth and depth of grant funding this year supporting many areas of our work including nature, litter and waste, policy, and education. We have also benefited from a healthy unrestricted commercial revenue stream. Unrestricted funds increased by £131,815 during the year. The investment was changed from the Amity Baland fund in October 2023 due to its closure. Overall, there was a small loss in the value of the investment of £13,340. The Board has set up a new financial reserves policy 'task and finish, group reporting to the audit and risk committee and Board. The group will look at relevant policies and investments, working wilh extemal professional advisors wherever necessary. Towards the end of quarter 4, the charity relocated offices to a managed service site. This will mean significant savings on such costs in 2024125 and offering stsff a more pleasant working environment. We continue to hold a strong balance sheet position wth total assets (less liabilities} of more than £2m (including the £1.3m investment). Future risks continue to be the lack of long-temi fvture guaranteed income. During the year, work has progressed on the previously identified Commercial approach. It is seen as prudent to identify this as a risk and a potential benefit. Investment and Reserves Policy The Board of Trustees considers the Resenies Policy for Keep V*dles Tidy annually. The current policy is that the Company should maintain an unrestricted reserve sufficient to fund three months, working capital wth any remaining unreslricted reserve to be used to cover ongoing company liabilities. The designated reseNe for working capital on 31 March 2024 was £750,000. The Trustees have also identified a requirement for a reserve to invest in areas where there is the potential to develop revenue-eaming activities andlor diversify income Sour$. The designated reseNe for strategic business development on 31 March 2024 was £300,000. Structure, governance and management Governing document Keep Wales Tidy is incorporated as a private company limited by guarantee and govemed by Articles of Association last amended by a special resolution of the Board of Trustees on 21 st February 2024. From 1972 to 31 May 2000, the Organisation operated as part of the Keep Britain Tidy Campaign. From 1 April 2000 to 23 September 2007. the organisation operated under the name of Environmental Campaigns Cymru. A special resolution changed the name to Keep Wdles Tidy on 24 September 2007.
KEEP WALES TIDY TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Recruitment and appointment of new trustees The Articles of Association provide for between three and 14 Trustees. who are the Directors of the Company. Trustees serve for a maximum term of three years but may be appointed to serve for two further terms of not more than three years each. Appointment is by election at the Annual General Meeting during September each year. Before inviting nominations, the Trustees review their skills to try to attract members with relevant experience and other skills to the Board. The Chair and Executive offirS are appointed by the Trustees from among their number. Each nevly appointed Trustee completes a Declaration of Interest, which is reviewed annually thereafter. Induction and training of newtrustees An induction pack is issued to new trustees which includes the Memorandum and Articles of Association, Charity Commission leaflet CC3 (The Essential Trustee), a detailed description of the Structure, Organisation and Staffing of the Company, and details of the Company's Professional Advisors. Trustees are encouraged to attend relevant training courses to develop their skills and trustee training is provided by professional advisors. Organisational structure The Board convenes at least four times each year and holds an additional strategic planningltraining day. The Trustees have delegated management of the organisation to the Chief Executive, who reports on perfom)ance against Strategic and Operational inilialives approved by the Trustees. An Audit Committee consisting of the Chair of Audit. Treasurer. and other serving Trustees meets four times a year to oversee risk management. intemal and extemal audit procedures. and the general management practices of the organisation. The Board also makes use of other sutrFcommittees. established to address specific priority areas. These include the Remuneration Committee, Policy Committee. and the Commercial Committee. There are also several staff-led operational committees, to which trustees are invited to attend and contribute. These indude Keep Wales Tidy's Net Zero Group, EDI Group, Staff Consultation and Wellbeing Groups. The Chief Executive has resF)onsibility for planning, developing, and implementing the services and strategies for Keep Wales Tidy within clear policies and protocols set by the Trustees. He ensures that the appropriate staff team is recruited and supported to provide the skills and expertise needed to run a successful organisation and that the values of Keep Wales Tidy are upheld. The Business Services Director, who is also the Company Secretary, has operational responsibility for Finance and Human Resources and reports via the Treasurer and Audit Committee on the financial position of the organisation. Management accounts are prepared quarterly for the Board and the management team. Risk management On a bi-annual basis, the Trustees review an assessment of the risks to which the Charity is exposed, including Business, Financial, Operational, and Health & Safety risks. PrOdureS and reporting regimes have been introduced to manage and redu identified potential risks. Trustees have agreed on clear lines of delegation and authority to staff and have involved staff in the recognition of risk in all their activities. A 'deep dive. session takes place at each Board meeting into a key area to ensure that Trustees have a thorough understanding of the charity's projects, and the proactive management of potential risks. This year's deep dive sessions included commercial activity. local places for nature, and extended producer responsibility. The key risk identified for 2023124 is fvture funding from 2025 onwards. The Board continues to review and update the risk register and all existing and potential new risks. Vvhilst the charity's financial investment. approach to equality. diversity and inclusion and failure of suppliers to deliver are noted as having the potential for significant impact on the charity, the Board believe that each of these risks is regularly reviewed. and action is taken to mitigate the level of the risk.
KEEP WALES TIDY TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Reference and administrative details Registered Company number 04011164 {England and Wales) Registered Charity number 1082058 Registered office Spark Maindy road Cardiff Wales CF24 4HQ Trustees and Directors Mr. A Stumpf - Chair Ms. Lesley Babb Mr. Essex Havard Ms. Gwenan Jenkins-Jones Mr. Mike Lesson Ms. Rebekah Stone Mr. Stephen Williams Ms.Kay Zdzieblo Dr. Michelle Webber- resigned 1511112023 Ms Ceri Davies- appointed 271912023 Mr Lloyd Harris - appointed 271912023 Mr David King MBE - appointed 271912023 Ms Luisa Pastore- appointed 271912023 Ms Alana Wn Smith - appointed 271912023 Company Secretary Mrs. Phillipa McGrath Auditors Azets Audit seices Ty Derw, Lime Tree Court Cardiff Gate Business Park Cardiff CF23 8AB Bankers Cooperative Bank PIC PO Box 101 1 Balloon Street Manchester M60 4EP Solicitors Geldards LLP 4 Capital Quarter Tyndall Street Cardiff CF10 4BZ
KEEP WALES TIDY TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Investment Managers Edentree Investment Management 24 Monument Street London EC3R 8AJ Key Management Personnel: Senior Management Team Chief ExecLrtive'. Owen Derbeyshire Business Services Director Philippa McGrath Operations Director Louise Tambini Marketing Director Joanna Golley Auditor In accordance with the company's articles, a resolution proposing that Azets Audit Services 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 Stumpf Trustee 26 September 2024
KEEP WALES TIDY STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The trustees, who are also the directors of Keep IAÈles Tidy for the purpose of company law, are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi}. Company Law requires the trustees to prepare financial ststements for each financial year which give a true and fair view of the state of affairs of the company and of the incoming resou$ 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- obseNe 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 departures disclosed and explained in the financial statements., and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the company will conlinue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the charity and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
KEEP WALES TIDY INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF KEEP WALES TIDY Opinion We have audited the financial statements of Keep Wales Tidy {the 'company'l for the year ended 31 March 2024 which comprise the statement of financial activities. the balance sheet. the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, induding Financial 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 2024 and of its incoming resources and application of resources. for the year then ended.. have been properfy prepared in accordance with United Kingdom Generally Accepted Accounting Practice: and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with Intemational Standards on Auditing (UK) (ISAS IUK)} and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities ft)r the audit of the financial statements section of our report. We are independent of the 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 suffiaent and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have conduded 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 perfomied, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concem 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 wth respect to going concern are described in the relevant sections of this report. Other information The other information comprises the infomiation included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other infomiation contained within the annual report. Our opinion on the financial statements does not cover the other infomiation 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 wth the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misststed. 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 misststement of this other infomiation, we are required to report that fact. We have nothing to report in this regard. Matters on which we are reqUId to port by exception We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports} Regulations 2008 require 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 infom)ation and explanations we require for our audit. 10-
KEEP WALES TIDY INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF KEEP WALES TIDY Responsibilities of trustees As explained more fully in the statement of trustees, responsibilities, the trustees, who are also the directors of the company for the purpose 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 intemal 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 company's ability to continue as a going concern, disclosing, as applicable, matters related to going concem 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 altemative but to do so. Auditorfs responsibilities for the audit of the financial statements We have been appoinled as auditor under section 144 of the Charities Act 2011 and report in a¢cordan¢e 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 lo issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance th ISAS (UK} will always detect a material misstatement vthen 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=Il www.frc.org.uklauditorsresponsibilities. 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 th 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 perfomi 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-mpli8n with laws and regulations, including fraud, we designed procedures which included.. Enquiry of management and those charged with goveman¢e around actual and potential litigation and claims as well as actual. suspected and alleged fraud- Reviewing minutes of meetings of those charged Yth governance., Assessing the extent of compliance wth 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 viill 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 financial 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 intemal control. 11
KEEP WALES TIDY INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF KEEP WALES TIDY Use of our report 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 trustees as a body, for our audit work. forthis report. or for the opinions we have formed. Ac2Y haF Azets Audit Services 21 October 2024 Chartered Accountants Statutory Auditor Ty DeTW, Lime Tree Court Cardiff Gate Business Park Cardiff United Kingdom CF23 8AB Azets Audit Services is eligible for appointment as auditor of the company by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006. 12-
KEEP WALES TIDY STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Notes Income from: Donations and legacies Charitable activities Other trading activities Investments 17,136 395,526 17,136 4,466,CEO 34,456 199,719 22,500 5,369,734 56,956 5,569,453 4,070,534 15.500 84.742 15.500 84.742 13,500 70,122 13,500 70,122 Total income 512.904 4.070.534 4,583.438 317,797 5.392,234 5,710.031 enditure on: Charitsble activities 367,749 4,827,206 5,194,955 459,898 5,304,467 5,764,365 Net gainsl(losses) on investments 12 {13.340) (13.340) (125,669) {125,669) Net movement in funds 131.815 (756.672) (624.857) (267,770) 87,767 (180.003) Fund balances at 1 April 2023 1.355,176 1.278.955 2,634,131 1,622,946 1,191,188 2,814,134 Fund balances at 31 March 2024 1,486,991 522,283 2,009,274 1,355,176 1,278,955 2,634,131 The statement of financial activits'es indudes all gains and losses recognised in the year. All income and expenditure derive from continuing activits-es. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. 13-
KEEP WALES TIDY BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Notes Fixed assets Tangible assets Investments 13 14 2.280 1,317.068 1,246.742 1,319,348 1,246,742 Current assets Debtors Cash at bank and in hand 15 345,072 685,962 459,271 1,248,092 1,031.034 1,707,363 Creditors: amounts falling due within one year 16 (341.108) (319.974) Net cuent assets 689.926 1,387.389 Total assets less curnt liabilities 2,009,274 2,634,131 Income funds Restricted funds Unrestricted funds Designated funds General unrestricted funds 18 522,283 1,278,955 17 1,050.000 436,991 1,050,000 305,176 1,486.991 1,355,176 2,009.274 2,634.131 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024, although an audit has been carried out under section 144 of the Charities Act 2011. 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 members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006. for the year in question in accordance viith section 476. These financial slatements have been prepared in accordan wtth the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the Trustees on 26 September 2024 A Stumpf Trustee Company registration number 04011164 14-
KEEP WALES TIDY STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flov from operating activities Cash (absorbed by)Igenerated from operations 23 (559,786) 663,859 Investing activities Purchase of tangible fixed assets Purchase of investments Proceeds from disposal of investments Investment income received (3,420) (1,293.243) 1,209.577 84.742 (66,894) 70,122 Net cash (used in)Igenerated from investing activities (2,344) 3,228 Net cash used in financing activities Net (decrease)lincrease in cash and cash equivalents (562.130) 667.087 Cash and cash equivalents at beginning of year 1,248,092 581,005 Cash and cash equivalents at end of year 685,962 1,248,092 15-
KEEP WALES TIDY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charity information Keep Wales Tidy is a private company limited by guarantee incorporated in England and Wales. The registered office is Spark, Maindy Road, Cardiff, CF24 4HQ, Wales. 1.1 Accounting convention The financial statements have been prepared in accordance with the company's goveming document, the Companies Act 2006. FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland" ('FRS 102") and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to chanties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 20191. The company is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below. 1.2 Going concem At the time of approving the financial statements. the trustees have a reasonable expectation that the company has adequate resources to continue in operalional existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in prepanng the financial statements. 1.3 Charitable funds Unrestricted funds are expendable at the discretion of the twstees in furtherance of the objects of the charity; the fund comprises the accumulated surpluses and deficits of unrestricted income and expenditure. Designated funds are unrestricted funds of the Charity vthi¢h have b*n set aside to fvnd particular future activities of the charity. Restricted funds are those vthere the donor has imposed restrictions on the use of the funds that are binding. Income arising on restricted funds and expenditure incurred in respect of these funds are reflected through the Statement of Financial Activities. Funds are transferred from restricted to unrestricted when the initial restrictions no longer apply. If any restricted fund falls into deficit. transfers are made from unrestricted reserves to cover the additional expenditure. Further explanation of the nature and purpose of each fvnd is induded in the notes to the financial statements. 1.4 Income Income is recognised when the company 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. Cash donations are recognised on reipt. Other donations are recognised On the company has been notified of the donation, unless perfomance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. 16-
KEEP WALES TIDY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies {Continued) In the case of performance related grants, income musl only be recognised to the extent that the charity has provided the specified goods or seNices as entitlement to the grant and only occurs when the performance related conditions are met. Capital grants are credited to the statement of financial activities as and when receivable and depreciation Charged is offset against the grant income, in a restricted fvnd. Eamed income and project income is recognised when the service is provided. Sponsorship income is recognised in the period to which the sponsorship takes place. Any amounts received in advance are deferred. Interest on funds is included when receivable and the amount can be measured reliably by the charity,. this is nomially upon notification of the interest paid by the bank. Dividend income is recognised in the period to which it relates. 1.5 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. Liabilities in respect of the Caru Cymru project partner expenditure are recognised once a valid partner daim has been received and verified. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned beeen those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of any VAT which cannot be recovered. Certain expenditure is directly attributable to the specific activities and has been included in those cost categories. Certain other costs, which are attributable to more than one activity, are apportioned across cost categories on the basis of head count on each activity. Governance costs Governance costs include the extemal audit costs and costs assoaated with the board meetings of the company, including trustees, expenses. 17-
KEEP WALES TIDY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies {Continued) 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. Capital expenditure will be defined as.. Any single piece of equipment. costing £2,500 or more (exc. VAT) that has an estimated economic l operational life of more than 3 years. Any fixtures and fittings costing £2,500 or more (ex¢. VAT) that have an estimated economic I operational life of more than 3 years. Expenditure of a capital nature will be recorded on the KASset Register. If an item is purchased via grant funding and depreciation would predude claiming the item. then the item wll not be capitalised. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases= Fixtures and fittings Computer equipment Other equipment Office Equipment straight line over 3 years Straight line over 3 years Straight line over 3 years Straight line over 3 years The gain or loss arising on the disposal of an asset is detemiined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial ath'vities. 1.7 Fixed asset investments Fixed asset investments are initially measured at transaction pri excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomel(expenditure) for the year. Transaction costs are expensed as incurred. 1.8 Impairment of fixed assets At each reporting end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impaimient loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impaimient loss (if any). 1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call wrth banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.10 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 balan sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, wth 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. 18-
KEEP WALES TIDY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies {Continued) Basic financial assets Basic financial assets, which indude debtors and cash and bank balan$, 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 al the present value of the fvture receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Derecognition of financial assets Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant nsks and rewards of ownership are retained but control of the asset has transfeed to another paty that is able to sell the asset in its entirety to an unrelated third paty. 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 dassified 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 effeclive interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the company's contractual obligats-ons expire or are discharged or cancelled. 1.11 Taxation As a registered charity, Keep Wales Tidy is entitled to the exemption from taxation in respect of income and capital gains received with sections 478489 of the Corporation Tax Act 2010 and section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects purposes only. 1.12 Employee benefits The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. 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 company is demonstrably committed to terminate the employment of an employee or to provide termination benefits. 1.13 Retirement benefits Payments to defined contribution rets'rement benefit schemes are charged as an expense as they fall due. 1.14 Leases Rentals payable under operating leases, induding any lease incentives reived, are Charged as an expense on a straight line basis over the term of the relevant lease. 19-
KEEP WALES TIDY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Critical accounting estimates and judgements In the application of the company's accounting policies. the trustees are required to make judgements, estimates and assumptions about the carying 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 accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods vthere the revision affects both current and future periods. Donations and legacies Unrestricted funds Unrestricted Restricted funds funds Total 2024 2023 2023 2023 Donations and gifts 17,136 34,456 22,500 56,956 Other trading activities Unrestricted Unrestricted funds funds 2024 2023 Sponsorship 15,500 13,500 -20-
KEEP WALES TIDY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charitable activities 2024 2023 Project income Earned income Single use carrier bag Grants received Sundry income 30,517 609,814 62,065 3,759,491 4,173 51,000 163,885 22,674 5,310,060 21,834 4,466,060 5,569,453 Analysis by fund Unrestricted funds Restricted funds 395,526 199,719 4,070,534 5,369,734 4,466,060 5,569,453 Grants Create Your Space Duffryn Welsh Government- Eco Schools Denbighshire County Council Welsh Government- Caru Cymru Welsh Government- Local PlaS for Nature Heritage Lottery Fund Alun Turing Sport Wales WG Core Grant - Policy Communication and Development Green Flag for Parks Garfield Weston Foundation UK Government- North Wales SPF Pobl Carmarthenshire CC Pembs CC Powys CC Swansea CC Vale CC Swire Foundation Eroclad - Planet Passionate Fund 25,348 430,000 34.257 519.034 8,120 (455) 2,661,421 2,211,850 1,454,780 499,962 21,425 48,395 729,139 58,224 75,000 38,150 3,212 32,294 17,195 47.115 25,890 12,529 50,000 4,000 62,666 3,759,491 5,310,060 21
KEEP WALES TIDY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Investments Unrestricted Unrestricted funds funds 2024 2023 Income from listed investments Interest receivable 70,055 14,687 68,657 1,465 84,742 70,122 Charitable activities Charitable Charitsble Expenditure Expenditure 2024 2023 Staff costs Depreciation and impaimient General project management Publicity and promotion Group support Establishment costs Meeting and Conference Training and other staff costs Travel and subsistence ICT costs Legal and professional Irrecoverable VAT 2,177,658 2,189,332 1,140 1,940,988 2,518.336 123,617 137.277 19,747 18.767 9,031 9,019 10,927 3,273 66,049 99,821 85,597 84,555 21,278 13,604 36,254 24,635 3,274 4,492,286 5,101,893 Share of support costs (see note 8) Share of governance costs (see note 8) 688,349 14,320 656.672 5.800 5,194,955 5,764,365 Analysis by fund Unrestricted funds Restricted funds 367,749 459,898 4,827,206 5,304,467 5,194,955 5,764,365
KEEP WALES TIDY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support costs Support Governance costs costs 2024 Support Governance costs costs 2023 staff costs General project management Publicity and promotion Establishment costs Meeting and conference Training and other staff cosls Travel and subsistence Legal and professional Irrecoverable VAT ICT Costs 440,004 440,004 352,675 352,675 721 10.170 60.205 8.286 721 10.170 60.205 8.286 2,434 11.760 53.755 12.064 2,434 11,760 53,755 12.064 2,080 7,546 36,714 29,927 92,696 2,080 9,174 6,889 46,618 41,960 119,343 9,174 6,889 46,618 41,960 119,343 36,714 29,927 92,696 Audit fees 14.320 14.320 5,800 5,800 688.349 14.320 702.669 656.672 5,800 662.472 Analysed between Charitable activities 688.349 14.320 702.669 656.672 5,800 662.472 Governan costs includes payments to the auditors of £14,320 (2023- £5,800) for audit fees. Trustees During the year 2 {2023= 3) trustees Vre reimbursed a total of £462 (2023.. £453) for travel and subsistence costs. 10 Employees The average monthly number of employees during the year was.. 2024 Number 2023 Number Direct charitable Governance Administration 56 61 Total 67 70 -23-
KEEP WALES TIDY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 10 Employees {Continued) Employment Costs 2024 2023 Wages and salaries Social security costs Other pension costs 2,155,994 207,538 254,130 2,096,663 202,829 242,515 2,617,662 2,542,007 Key management personnel During the year the total remuneration (including gross salary, employers national insurance contributions and employer's pension contributions) totalled £317,305 (2023.. £307,260) for 4 employees (2023.. 5 employees). The number of employees whose annual remuneration was more than £60,000 is as follows= 2024 Number 2023 Number Beeen £60,000 and £70,000 Beeen £80,001 and £90,000 Contributions totaling £17,380 (2023.. £7,102) were made to defined contribution pension schemes on behalf of employees whose emoluments exceed £60,000. 11 Taxation The charity is exempt from tax on income and gains falling vrfithin section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 12 Net gainsl(losses) on investments Unrestricted Unrestricted funds funds 2024 2023 Revaluation of investments (13,340) {125,669) -24-
KEEP WALES TIDY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Tangible fixed assets Fixtures and fittings Computer equipment Other equipment Office Equipment Total Cost At 1 April 2023 Additions 2.198 74,061 2,562 3,420 32,981 111,802 3,420 At 31 March 2024 2.198 74,061 5,982 32.981 115.222 Depreciation and impaimient At 1 April 2023 Depreciation charged in the year 2,198 74,061 2,562 1,140 32,981 111,802 1,140 At 31 March 2024 2,198 74,061 3,702 32,981 112,942 Carrying amount At 31 March 2024 2,280 2,280 At 31 March 2023 14 Fixed asset investments Listed investments Cost or valuation At 1 April 2023 Additions Valuation changes Disposals 1,246.742 1,293,243 {13,340) {1,209,577) At 31 March 2024 1,317,068 Carrying amount At 31 March 2024 1,317,068 At 31 March 2023 1,246,742 -25-
KEEP WALES TIDY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15 Debtors 2024 2023 Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrued income 157,265 160,461 27,346 60.147 345.348 53.776 345,072 459,271 16 Creditors: amounts falling due within one year 2024 2023 Other taxation and social security Trade creditors Other creditors Accruals and deferred income 96,253 93,916 8,595 142,344 65.682 146,211 342 107.739 341,108 319,974 17 Designated funds The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.. Movement in funds Incoming Balance at resources 1 April 2023 Movement in funds Incoming Balance at resources 31 March 2024 Balance at 1 April 2022 Working capital reserves Strategic development fund 750,000 300,000 750,000 300.000 750.000 300.000 1.050,000 1,050,000 1,050.000 The designated working capital reserves fund has been set up to ensure the charity always has access to three months working capital. A strategic business development fund of £300k has been put in place to enable the charity to develop and make the most of new opportunities. -26-
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KEEP WALES TIDY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 20 Operating lease commitments At the reporting end date the company had outstanding commitments for future minimum lease payments under nOn-CanlIable operating leases. vthich fall due as follows: 2024 2023 Within one year Beeen and five years 13,472 330 27,679 691 13,802 28,370 21 Pension schemes The company operates a defined contribution pension scheme with Scottish Widows. During the year contributions were made amounting to £254,130 {2023: £242.515). There were no amounts outstanding at the current or previous year end. 22 Related paty transactions There were no disdosable related party transactions during the year (2023 - none). Transactions with related parties There were no related paty transactions to note during the cuent or previous year other than those disclosed elsewhere in the notes to the financial statements. 23 Cash generated from operations 2024 2023 Deficit for the year 1624.857) (180.003) Adjustments for= Investment income recognised in statement of financial activities Fair value gains and losses on investments Depreciation and impairment of tangible fixed assets (84,742) 13,340 1,140 {70,122) 125,669 Movements in working capital.. Decrease in debtors Increase in creditors 114,199 21.134 755,002 33,313 Cash labsorbed by)Igenerated from operations 1559,786) 663.859 24 Anatysis of changes in net funds The company had no debt during the year. -30-