COMPANY REGISTRATION NUMBER: 4037005
CHARITY REGISTRATION NUMBER: 1090949
Pembrokeshire Frame Limited
Company Limited by Guarantee
Unaudited Financial Statements
31 March 2024

Pembrokeshire Frame Limited
Company Limlted by Guarantee
Financial Statements
Year ended 31 March 2024
Pages
Trustees, annual report (incorporating the director's report)
Independent examiner's report to the trustees
Statement of financial activities (including income and expenditure
account)
1to5
Statement of financial position
Statement of cash flows
Notes to the financial statements
10t021
The following pages do not form part of the financial slatements
Detailed statement of financial activities
23

Pembrokeshire Frame Limited
Company Llmlted by Guarantee
Trustees, Annual Report (Incorporating the Director's Report)
Year ended 31 March 2024
The Iruslees, who are also the directors for the purposes of company law, present their report and Ihe unaudited
financial statements of the charity for the year ended 31 March 2024.
Reference and administrative detalls
Registered charity name
Pembrokeshlre Frame Limited
Charity ragistralion numbèr
1090949
Company reglstratlon number
4037005
Prln¢ipal offlce and registerod
offl¢e
Old Press Buildings
Old Hakin Road
Merlins Bridg&
Hav8rfordw8St
P8mbrokeshlre
SA61 1XF
The trustees
Mr A S Harries
Mr P G Smith
Ms D J Brown
Mrs E A Clarke
(Appointed 8 December 2023)
Independent examln8r
Bruce Evens (Senior Independent Examln8r}
Hamllton HDUS8
Hamilton Terrace
Mllford Haven
Pembrokeshire
SA73 3JP

Pembrokeshire Frame Limited
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) (conllnued)
Year ended 31 March 2024
Structure, governance and management
Governlng document
The ¢harily is a limited company, registration number 4037005, and is governed by its Memorandum and Articles of
Association. Pembrokeshire Frame Limited is also registered with the Charity Commission, number 1090949. The
trustees are also directors of the charitable company.
Appointment, induction and trainlng of new Irustees
Potential trustees serve a probationary period of Six months co-opted to Ihe board prior lo election by members at an
AGM It is planned that trustees wi15 bring lo the board a range of skills frorn business, professional, social car& and
community backgrounds relevant to Ihe Charilvs operational and social obJecliv8s. Potanlial now trustees ar8
intervi8wed and provided with a Gomprehensive induction to the organlsation, an inductlon pack and relevant
guidance on trustee related roles and responsibilities. Ongoing opportunities are offored for trustees to attend
training courses.
The charity has a close working relalionship with Pembrokeshire County Council, which nominates a representative
to the Board as an advisor for any issues which may arise regarding the Local Authority Contract.
Organlsatlonal structure
The Iruslees are responsible for formulating policies and procedures and for ensuring the correct level of internal
conlfOI.
The day lo day runnlng of the charlty Is the responslblllty of the Chlef Officer Paul Hughes and the management
tearr, who report to the trustees at thelr regular meetlngs. The charity also undertak88 soclal accounting annually.
Financlal controls
Conlrol over Ihe client affairs is affected by an inspection by the trustees.
Related partles
The charity has a close working relationship with Pembrokeshire County Council, which nominates a trustee,
Rlsk managèment
The Iruslees have recognlsed the loss of grant fundlng and a fallure of Its duly of care lo the service users as Ils
malor risks.
To miligate Ihe loss of funding, a resetves policy has beer) created to enable the principal objectives to continue and
to meet any statutory or contractual commitments which may arise as a result of Ihe loss. Suitable levels of
supervision, training and procedures have been pul in place to ensure the standard of care is of the highest level.
Internal controls and internal audit procedures have also been implemented lo safeguard against risks. The charity
has the appropriate levels of insurance to cover public liability, fiéelity and other areas relevant to its operations.
Objectlves and a¢tivitle8
Objectivos and alms
To promote and provlde educatlon, training and employment opporlunlties lo persons with or recovering from mental
111 health andlor a learning disability and persons who are considered lo be socially excluded to enable them to test
their ability lo undertake meaningful occupalion or work, develop new skills and change the direction of their lives.
Significant activities
The chalitvs activities include the provision of education, training and employment opportunities to those with and
recovering from menlal ill health andlor a learning disability and for those who are socially excluded. Opportunities
are provided through a community re-use project involving the collection, refurbishment and redistribution of
unwanted furniture and household goods and a horticultural and woodland management project based on organic
principles.

Pembrokeshire Frame Limited
Company Limited by Guarantee
Trustees. Annual Report {Incorporating the Director's Report) (contlnuod)
Year ended 31 March 2024
Achievoments and performancè
Charitable activities
The financial year April 2023 to March 2024 has seen the charity continue to build on the successes of the previous
financial year. Through the provision of grant support and revenue we have continued to invest in our services and
buildings through the provision of new projects, staff and equipment.
The new Textiles Across Pembrokeshire Prolect, TAP, has grown slgnificandy during the year and offers
opporlunilies in our Merlin's Bridge base and also in Pembroke Dock al the VC Gallery. We created the
Foundil@FRAME fashion label which was used lo promote the reuse of materials lo make new items of clothing. In
January 2024 we held our first fashion show al Pembrokeshire College at which a wide array of items that had been
crealed by our team were shared with those who 8ltenéed. FRAME has seen a a significant increase in the amounl
of clothing donated to us and this has helped to significanlly increase the quanlity and quality of items that we now
sell as pre-loved clothing. This was fealured on BBC Radio and Television. The One-of-a-kind furniture upcycling
project 81so began offering workshops at the VC Gallery sile. The Furniture Surgery continued to develop the
sophistication and range of work undertaken by our participants. We were able to offer Fix It Friday" sessions to
mernbers of the public who wished to learn upholstery skills while working on an item from home. An opporlunity also
arose to create an addilional sales area in the Green Shed. The café area was vacated in July and after consulting
slaff the House of FRAME retail space was created. This sells vintage and high value items along with a range of
unusual items.
Pembrokeshire FRAME Ltd continued to operate the relail showrooms at Merfin's Bridge and Pembroke Dock. The
performance of the retail outlets was very good with income again increasing significantly on the previous year. The
shop in Merlin's Bridge undement a renovation with the creation of a new clothing area with a changing room. The
Pembroke Dock store und8rw8nt significant change with the retail floor spac8 increased by 80 % . This enabled the
creation of a dedlcaled clothing area, sales area for the upcycling prolecls as well as space for items from the Hous8
of FRAME.
The success of the projects and relail stores is buill upon the efforts of our teams who dilligently sort and Pfepare the
donations we receive.
The charity'5 Fuel Poverty Support Worker conlinues to support people to ensure that they get access lo the right
support through the cost-of-living crisis, access to th6 Priorities Service Register and raise awareness of the dangers
of Carbon Monoxide in the home. He continues to work very closely with an increasing number of local and national
third sector groups to develop expertise and impact the quality of the support we can provide. Through this work we
have supported over 250 applications for financial relief or support. This work has saved our clients over £15,000.
We have also been able to provide warm packs to over 200 people.
Pembrokeshire FRAME Ltd continued to provide support lo homeless famili8S through the provlslon of fre8 furniture
and household Items. We supported 64 individuals or families across PembrokeshSre with donatlons valued al
£19,000 which also included delivery of Ihe items. This work was supported by a grant from Pembrokeshire County
Council.
We also have offered support to other local charities such 8s Greenacres Animal Rescue Ihrough the provision of
pre-loved towels and blankets. We once again delivered Christmas parcels for PATCH to some of the most
disadvantaged families across Pembrokeshire, ensuring that their children had presents on Christmas Day.
Pembrokeshire FRAME Ltd also achieved the "Approved Reuse Centre" standard through our membership and
collaboration with the Reuse Network. This standard was achieved via a 2-day audit of our policies, procedures and
processes across the full range of activities that we undertake. This slandard can be used to assure our customers
of Ihe quality of practice in the area of reuse. We also once 2gain achieved the Green Dragon Environmental
Standard which audits our usa of resources and our impact on our environment. This year we were praised for the
progress mado on reducing the uso of energy and on increasing the amount of material sent for rècycling.

Pembrokeshire Frame Limited
Company Limited by Guarantea
Trustees. Annual Report (Incorporating the Director's Report) {contlnuodJ
Year ended 31 March 2024
Pembrokeshire FRAME Lld continued to deliver the contract wilh Pembrokeshire County Council on its Bulky Waste
and Second Stage Processing which supported work experience opporlunilies for people with disabilities and or
recovering from mental heallh problems.
The Board of Directors wish lo thank all the participants, volunteers and staff for their continuing hard work and
amazing cornmilment lo the work of Pembrokeshire FRAME Ltd.
Ensuring we deliver our needs
We review our aims, objectives and activities each year. This review looks al what We achieved and the outcome5 of
our work in the previous 12 months. The review also holps us ensure our aims, objeGtive5 and activities r8mained
focu88d on our stated obj8Ctiv8s. W8 have referred lo the guidance contain8d in the Charity Commission's general
guldance on publlc benefit when r8viewing our aims and obj&Gtlves and In planning our future activitl8s. Each year
we 19St Ihe delivery of our objectives and aclivlties through our independently examined soclal accounting process.
Financlal review
Reserves pollcy
The Iruslees believe that the charity should hold financial reserwes (the "Emergency Operating Reserve"
because..
EOR)
1 11 has no endowment funding and is entirely dependent for income upon donor funding, contracts and servlc818V61
agreements from year lo year whlch Is in8Vltably subject to fluctuation;
211 requires prot8clion against and the ability to continue operating despite catastrophic or lesser damaging evenls.
The Iruslees believe that the minimum level of the EOR should be the equivalent of six months operating costs
calculated and reviewed annually and believe that the EOR should be built up to the desired level in stages
consistent with Ihe charily's overall financial position and ils need to maintain and develop its charitable aclivities.
The current level of the EOR is £nil, with essential running cosls currently amounting to approximately £86,000 per
month based on existing contracts giving a target EOR of £516,000. Efforts lo build up th8 EOR to this level will
continue In line with this pollcy.
Results
The charity is reportlng an overall deficit for the year ended 31 March 2024 of £45,182 compared with a surplus of
£32,207 in 2023. The deficit for the year has decreased funds carried fomard from £1,729,665 to £1,684,482 of
which £1,218.449 relates to restricted funds.
The level of unrestricted reserves al the balance sheet date was £466,033.
Investment powers
Under the memorandum and artScles of association, the charlty has the power to make any Investment which the
Irusleas see fit.

Pembrokeshire Frame Limited
Company Limited by Guarantee
Trustees. Annual Report {Incorporating the Director's Report) {¢onllnu4d)
Year ended 31 March 2024
Plans for future perlods
Future developments
Further development The Community Fridge.
Further development of Green Shed Community Reuse Centre and activities.
Development of upholstery project and social enterprise
Developrnenl of community partnerships
Continue to seek and source funding
Development of Website
Development of ecommerce
The Board of Directors wish to say thank you to all the volunteers 8nd staff for their conlinuing hard work and
amazing commitment to FRAME during this period.
Indep8ndent examlner
A resolution lo reappoint Evens & Co Ltd as independent examiners lo the charity will be proposed at the annual
general meeting.
Small company provSslons
This report has been prepared in accordance with the provisions applicable lo companies entitled to the small
companies ex8mption.
The Iruslees, annual report was approved on 20 November 2024 and signed on behalf of the board of trustees by:
Mrs E A Clarke
Trustee

Pembrokeshire Frame Limited
Company Limited by Guarantee
Independent Examinerfs Report to the Trustees of Pembrokeshire Frame Limited
Year ended 31 March 2024
I report to the Iruslees on my examination of the financial statemenls of Pembrokeshire Frame Limited ('Ihe charitw)
for the year ended 31 March 2024.
Respon81bllltles and basls of report
The charity's Irustees are responsible for the preparation of the accounts. The charitls trustees consider that an
audit is not required for this year under section 144 of the Charities Act 2011 ("the Charities Act") and that an
independenl examination is needed. It is my responsibility lo
examine the accounts under section 145 of the Charities Act,
to follow the procedures laid down in the general Directions given by the Charily Commission (under section
14515}Ib) of Ihe Charities Act. and
to stale whether particular matters have come to my attention.
My examination was carried out in accordance with the general Direclions given by the Charity Commission. An
examination includes a review of the accounting records kept by the charity and a Comparison of the accounts
presented with those records. 11 also includes consideration of any unusual items or disclosures in the acGounls, and
seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide
all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts
present a 'true and fair view, and the report is limited to those matters sel out in the next statement.
Independent examiner's statement
Since the charily's gross income exceeded £250,000 your examiner must be a member of a body listed in section
145 of Ihe 2011 Act. I confirm that l am qualified lo undertake the examination because l am a member of Ihe
Institute of Chartered Accounlants in England and Wales (ICAEW), which is one of the listed bodies.
In connectiori wilh my examination, no matter has come to my altenlion which gives me cause lo believe that in, any
malelial respect.,
th8 accounting records wer6 not kept in accordance with section 130 of th6 Charities Act; or
th8 accounts dld not accord with the accountlng rècords; or
the accounts dld not comply with the applicabl8 requirements concernlng the form and conlent of accounts
set out in Ihe Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts
gSve a'true 8nd falr, vlew which is not a matter considered as part of an Independent examination.
I have come across no other matlers in connection with the examination lo which attention should be drawn in this
report in order to enable a proper understanding of the accounts to be reached.
Bruc
Evens (Senior Independent Examiner)
Independent Examiner
Hamilton House
Hamilton Terrac&
Milford Haven
Pembrokeshlre
SA73 3JP

Pembrokeshire Frame Limited
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 March 2024
2024
Reslricled
funds
2023
Unrestricted
funds
Total funds
Total funds
Nate
Income and endowments
Donations and legacies
Charitable activities
Investment income
Other income
18,362
881.640
3,358
13,981
917,341
18,362
946.718
3,358
13,981
982,419
7,398
1.007,572
343
22.121
65.078
Total incorne
65,078
1,037,434
Expendlture
Expendilure on charitable activities
Total axpendlture
9,10
(888,380)
1888,380)
(139,222} (1,027,602) 11,005,227)
{139,222) (1,027,602) (1,005,227)
Net lexpendlturè)lincome and nét movement In
funds
28,961
(74,144>
(45,1831
32,207
Reconclllallon of funds
Total funds brou9ht forward
Total funds Garrled forward
437,072
1,292,593
1,218,449
1,729,665
1,684,482
1,697,458
466.033
1,729.665
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The notos on pages 10 to 21 form part ofthese flnancial statements.

Pembrokeshire Frame Limited
Company Limited by Guarantee
Statement of Financial Position
31 March 2024
2024
2023
Notè
Flxed assets
Tangible fixed assets
18
1,201,954
1,345,566
Current assets
Stock
Debtors
Cash at bank and in hand
19
20
5,363
27,816
777,798
810,977
4,013
60,749
678,596
743,358
Creditor5: amounts falling due wlthln one year
Net current assets
21
(54,092}
(66,172)
677.186
2,022,752
756,885
1,958,839
Total assats less current liabilltles
Credltors: amounts falllng due after more than one year
N8t assets
22
(274,357)
1,684,482
1293,087)
1,729,665
Funds of th8 charlly
Reslricled funds
UnrestrScled funds
1,218,449
466.033
1,292,593
437,072
Tolal charity funds
23
1,684,482
1,729,665
For the year ending 31 March 2024 the charity was entitled to exemplion from audil under section 477 of the
Companies Acl 2006 relating lo small companies.
Directors, responsibilities:
The members have not required the company to obtain an audit of ils financial stalemenls for the year in
question in accordance with section 476.,
The direclors acknowledge their responsibilities for complying wilh the requirements of the Act with respect lo
accounting records and the preparation of financial statements.
Th058 financlal statemenls have been prepared In accordance with the provlslons appllcable to companles subject to
the small companies, regime.
These financial statements were approved by the board of truslees 8nd authorised for issue on 20 November 2024,
and are signed on behalf of the board by=
Mrs E A Clarke
Trustee
The notes on pages 10 to 21 form part of these financial statements.

Pembrokeshire Frame Limited
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 March 2024
2024
2023
Cash flows from operating activities
Net lexpendilurellincome
{45,1831
32,207
Adjustments for..
Depreciation of tangible fixed assets
Other inleresl receivable and similar income
Interest payable and similar charges
34,358
{3,3581
31,270
40,167
(3431
21.445
Chang9s in..
Stock
Tradg and other debtors
Trade and other credltors
{1,3501
32,933
(9,7701
38,900
6,980
(46,249)
(473)
53,734
Cash generated from operations
Interest paid
Interest received
(31,270)
3,358
10,988
(21,445)
343
Nel Cash from operating activities
32,632
Cash flows from investing activiti8s
Purchase of tangible assets
Proceeds from sale of tangible assets
Net cash fromllused inl investing activities
(22.939)
132,193
109.254
(4,940>
4,484
(456)
Cash flows from financlng activlties
Proceeds from borrowings
Proceeds from hire purchase agreemenls
Nel cash used In financing actlvi118s
{11,279)
19,761)
{21,040)
(13,7251
(15,4801
(29,2051
Net Increas6 In cash and cash equlvalents
Cash and cash equivalents at beglnnlng of year
Cash and cash equivalenls at end of year
99,202
678,596
777,798
2,971
675,625
678,596
The notes on pages 10 to 21 form part of these financial stat6ments.

Pembrokeshire Frame Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
Gèneral information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and
Wales and a registered charity in England and Wales. The address of the registered office is Old Press
Buildings, Old Hakin Road, Merlins Bridge, Haverfordw8sl, Pembrokeshire, SA611XF.
Statement of compliance
Thes8 financial statements have been prepared In compliance with FRS 102, 'Th8 Financlal Reporting
Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice
applicable to charities preparing Iheir accounts in accordance with the Financial Reporting Slandard applicable
in Ihe UK and Republic of Ireland {FRS 1021 (Charilies SORP IFRS 102)) and the Companies Act 2006.
Accountlng pollcles
Basis of preparatlon
Th8 flnancial statements have been prepared on Ihe hlstorical cost basls, as modifled by th8 revaluation of
cerlaln flnanclal assets and liabilities and Investment propertl8s measured at fair value through Income or
expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Golng concern
Ther8 are no material uncerlalntles about the charSVs ability to conlSnue.
Governance cost5
Governance costs include costs of the preparation and examination of the stalulory accounls, the costs of
Iruslee meetings and Ihe cost of any legal advice to trustees on governance or constitutional matters.
Taxallon
The charlty Is exempt from corporation tax on Ils charllable actlvlties.
Capital goods scheme
Under the capital goods schemè which is followed by th8 charity, differences are written off lo tha profit and
loss in the year they occur.
Judgements and key sources of 8Stlmatlon uncertainly
Thè preparation of the financial statements requires management to make judgernents, estimates and
assumptions that affecl Ihe amounls reporled. These estimates and judgements are continually reviewed and
are based on experience and other faclors, including expectations of future events thal are believed to be
reasonable under the circumstances.
10-

Pembrokeshire Frame Limited
Company Limlted by Guarantee
Notes to the Financial Statements l¢onllnu6d)
Year ended 31 March 2024
Accounting policies (contlnuedj
Fund accounting
Unrestricted income funds are general funds that are available for use al the Iruslees, discretion in furtherance
of the objectives of the charity.
Restricted funds are those donated for use In a partlcular area or for speclflc purposes, the use of which Is
roslricled to that area or purpose.
Furlher explanation of the nature and purpose of each fund is included in th8 notes to the financial slatements.
Incomlng resources
All incoming rasourc8s are included in the statem8nt of financial activities when enti118m6nl has pass8d to tha
charity,. it Is probabl& that the economlc benèfits assoclated with th& transaction will flow lo the charity and the
amount Can be reliably measured. The following speclflc policies are applled to particular categorles of Income..
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is
probable and its amount can be measured reliably.
legacy income is recognised when receipt is probable and entitlement Is established.
income from donated goods is measured at the fair value of the goods unless this is impractical to
measure reliably, in which case the value is derived from the cost lo the donor or the estimated resale
valuo. Donated facilitias and services are recognised in the accounts when rec8iV8d if th8 value can be
r8liably measured. No amounts are included for the contribulion of general volunlaars.
income from contracts for the supply of services is recognised wilh the delivery of the contracted service.
This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a
particular purpose and returned if unspent, in which case il may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liabilily is incurred. Expendilure includes any VAT which
cannot be fully recovered, and is classified under headings of the slalemenl of financial activili8s lo which il
relates..
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable Irading
activities, and the sale of donated goods.
expenditure on charitable aclivities includes all costs incurred by a charity in underlaking activities that
further its charitable aims for the benefit of ils beneficiaries, including those support costs and costs
relating to the governance of the charily apporlioned to charitable activities.
other expendilure includes all expenditure that is neilher related to raising funds for Ihe charity nor part of
ils expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a
single activity are allocated directly to that aclivity. Shared costs are apportioned be￿een the activities they
contribute to on a reasonable, justifiable and consistent basis.

Pembrokeshire Frame Limited
Company Llmited by Guarantee
Notes to the Financial Statements {¢ontlnued)
Year ended 31 March 2024
Accounting policie5 (conllnuèd)
Tangible assets
Tangible assets are initially recorded al cost, and subsequently stated at cost less any accumulated
depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair
Value al the dale of revaluation less any subsequenl accumulated depreciation and subsequent accumulated
impairment losses.
Depreciation
Deprecialion is calcu18ted so as to write off the cost or valuation of an asset, less its residual value, over the
useful economic life of that assel as follows..
Land and buildings
Other plant and machinery etc
2010 Straight line
150/9 and 25 % on a reducing balance basis
Impalrment of flxed assets
A review for indicators of impairmenl is carried oul al each reporting date, with the recoverable amount being
eslimaled where such indicators exist Where the carrying value exceeds the recoverable amounl, the asset is
imp8 ired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible lo estimate the recoverable amount of an
individual asset. an estimate 15 made of the recoverable amount of the cash-generaling unit to which the asset
belongs. The cash-generating unil is the smallest identifiable graup of 8ssels that includes the asset and
gen&rales cash inflows that largely independent of the cash inflows from other assets or groups of assets.
stocks
Stocks are measured at the lower of cosl and estimated selling price less costs to complete and sell. Cost
includes all costs of purchase, cosls of conversion and other costs incurred in bringing the stock to ils present
location and Condition.
Flnancial Instruments
A financial asset or a financial liability is recognised only when the entity becomes a parly lo the contractual
provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related
transaction costs, unless the arrangement conslilutes a financing transaction, where it is recognised at the
present value of the future payments discounted at a markel rate of inleresl for a similar debt instrument.
Current assets and current liabilities are subsequently measured al the cash amount or olher consideration
exp8cted lo be paid or re¢Èiv&d and not discounlod.
Debt instrumenls are subsequenlly measured at amorlised cost.
Llmlted by guarantee
The company is limited by guarantee and therefore does not have any share capital.
Th81 iabilily of the memb&rs in the event of Ihe company being liquidaled is limited to £1 per member.
12-

Pembrokeshire Frame Limited
Company Limlted by Guarantee
Notes to the Financial Statements (contlnuedj
Year ended 31 March 2024
Donations and legacies
Unrestricted Total Funds
Funds
2024
Unrestricted
Funds
Total Funds
2023
Donatlons
Donations
18,362
18,362
7,398
7,398
C haritable activltles
Unrestricted
Funds
Restricted
Funds
Total Funds
2024
Shop income
Training incorne
Grant5
Contracts and servicè18V81 agreem8nls
525,776
525,776
40,000
315,864
65,078
105,078
315,864
946,718
881,640
65,078
Unrestricted
Funds
Restricted
Funds
Total Funds
2023
Shop income
Training income
Grants
Contracts and service level agreements
464,125
340
35,000
304,417
803,882
464.125
340
238,690
304,417
203,690
203,690
1,007,572
Investment Income
Unrestricted Total Funds
Funds
2024
Unreslrlcted
Funds
Tot81 Funds
2023
Deposlt account Interest
3,358
3,358
343
343
Other Incoma
Unrestricted Total Funds
Funds
2024
Unrestricted
Funds
Total Funds
2023
Rental income
13,981
13,981
22,121
22,121
13-

Pembrokeshire Frame Limited
Company Limited by Guarantee
Notes to the Financial Statements (oontlnu•d)
Year ended 31 March 2024
Expenditure on charitable activities by fund type
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Charity shop, service level & training
Core activities
Second slage processing
Bulky household
Support costs
121,934
201,050
47,255
97,163
420,978
55,981
83,241
177,915
284,291
47,255
97,163
420,978
888.380
139,222
1,027,602
Unreslrlcted
Funds
Restricted
Funds
Total Funds
2023
Charity shop, servlce level & training
Cofe activities
Second stage processing
Bulky household
Support costs
145,267
79,559
41,640
71,063
424,779
762,308
88,138
154,781
233,405
234,340
41,640
71,063
424,779
242,919
1,005,227
10. Exp8ndltur8 on charltable actlvltles by actlvlly type
Activities
undertaken
directly Support costs
Total funds
2024 Total fund 2023
Charlty shop, s8rvlc8 level & Iralnlng
Cora actlvitles
Second stage processlng
Bulky household
Governance costs
177,915
284,291
47,255
97,163
64,428
290,728
21,840
36,792
7,190
420,978
242,343
575,019
69,095
133,955
7,190
1,027,602
311,694
486,624
62,946
133,367
10,596
606,624
1,005,227
11. AnalysSs of support costs
Analysis of
support costs
Total 2024
Total 2023
Staff cosls
Premises
General office
Finance costs
Governance costs
260,503
117,664
4,351
31,270
7,190
420,978
260,503
117,664
4,351
31,270
7,190
420,978
304,381
85,376
4,081
20,345
10,596
424,779
14-

Pembrokeshire Frame Limited
Company Limited by Guarantee
Notes to the Financial Statements (¢onllnu8d)
Year ended 31 March 2024
12. Net (expenditure)lincome
Nel (expenditure)lincome is stated after chargingl(cr6diling)'.
2024
2023
Depreciation of tangible fixed assets
34,358
40,167
13. Auditors rèmuneration
2024
2023
Fees payable for Ihe audit of the financial statements
10.596
14. Independent examlners fees
2024
2023
Fees payable to the independent examiner for..
Independent examinatlon of the financial statements
7,190
15. Staff costs
The total staff cosls and employee beneflts for the r@porting period ar8 analysed as follows..
2024
2023
Wages and salaries
Social security costs
702,752
45,438
748,190
593,960
37,727
631,687
The average head counl of employees during the year was 42 {2023.' 39). Th8 average number of full-time
equivalent employees during th6 year is analysed as follows..
2024
No.
2023
No.
Number of employees
42
39
No employee received employee benefits of more than £60,000 during the year (2023.. Nill.
16. Trustee remuneratlon and expenses
None of the trustees have bean paid any remuneratlon (2023 £nlll or recolved any other baneflts from an
employment with their charity or a related entity.
17. Transfers between funds
In accordance with S214{el of SORP 2005 the value of fixed assets has been transferred from restricted to
unrestricted funds as the asset has been purchased from a restricted fund donation but the asset is held for a
general and not a restricted purpose.
15.

Pembrokeshire Frame Limited
Company Limited by Guarantee
Notes to the Financial Statements (¢ontlnu¢d)
Year ended 31 March 2024
18. Tangiblo fixed as58ts
Land and Olhor plant and
buildings
machinery elc
Total
Cost
At1 April 2023
Additions
Disposals
At 31 March 2024
1,533,912
22,939
(173,0261
1,383,825
221,744
1,755,656
22,939
(194.921)
1,583,674
(21,895)
199,849
Depreclatlon
At 1 April 2023
Charge for the year
Disposals
At 31 March 2024
235,527
25,017
141 ,5271
219,017
174,563
9,341
{21,201)
162,703
410,090
34,358
(62,728)
381,720
Carrylng amount
At 31 March 2024
1,164,808
1,298,385
37,146
47,181
1,201,954
1,345,566
At 31 March 2023
Flnance 18ases and hlre purchaso contracts
Included wilhin the carrying value of tangible fixed assets are the following amounts relating to assels held
under finance leases or hire purchase a9reemenls'.
Motor vahlcles
At 31 March 2024
17,749
23,666
At 31 March 2023
19. Stocks
2024
2023
Stock
5,363
4,013
20. Debtors
2024
2023
Trade debtors
Other deblors
23,129
4,687
27,816
48,497
12,252
60,749
Olher deblors includes an amount of £nil (2023 - £nill falling due after more than one year.
16-

Pembrokeshire Frame Limited
Company Limited by Guarantee
Notes to the Financial Statements (conllnuod)
Year ended 31 March 2024
21. Creditors: amounts falling due within onè yèar
2024
2023
Loans and overdrafts (secured)
Trade creditors
Hire purchase agreements Isecuredl
Social security and other tsxes
other creditors
12,856
9,805
6,491
16,758
8,182
54,092
11,897
13,414
9.760
19,559
11,542
66,172
The loan facili1188 are secured by legal charges held by Pembrokeshire County Council over the properties of
th8 company.
The hire purchase creditors are secured againsl Ihe assets to which they relate.
22. Credltors: amounts falllng duè aftèr more than one year
2024
2023
Loans and overdrafts (secured)
Hire purchase agreements (secured)
273,225
1,132
274,357
285,463
7,624
293,087
Included within creditors.. amounts falling due after more than one year is an amount of £221,801 (2023..
£237,877) in respect of liabilities payable or repayable by inslalments which fall due for payment after more
than five years from the reporting date.
Monthly repayments of £2,897.05 du8 on the 251h of each month and an interest rat8 of 7.820/0 applies to th&
mortgage.
23. Analysls of charltable funds
Unrastrlcted funds
At
Expenditure 31 March 2024
At 1 April 2023
Income
General funds
437.072
917.341
(888.3801
466,033
At
Expenditure 31 March 2023
At 1 April 2022
Income
General funds
365,636
833,744
(762,3081
437,072
Unrestricted income funds are general funds thal are available for the use al the Irustees, discretion in
furtherance of the objectives of the charity.
17-

Pembrokeshire Frame Limited
Company Limited by Guarantea
Notes to the Financial Statements {¢onllnu•d)
Year ended 31 March 2024
23. Analysis of charitable funds (contlnuod)
Restrl¢tèd funds
At
Expenditure 31 March 2024
At 1 April 2023
Income
Hywel Davies
PCC grant new building
PCC grant refurbish &xisling building
Community fridge 9rant (WCVA)
Zero waste schools
Milford Haven Port Authority
Bags of Care
WCVA- Penny the Polar Bear
WCVA- Green Sh&d Re-us8 Project
P. Dock Communlty Frldg8
Neighbourly {Aldll
WCVA- VWG Small Grant
Klck-start Grant
PAVS- Maln Scaf
Poslcode Community
Nalional Lottery
Bluestone Resorts Ltd
Persimmon Homes
Pembrokeshire Coast National Park
Moondance Foundation
PCC- Homeless Support Grant
Lloyds Bank Foundalion
Hywel Davies Trust- Wellbeing Grant
Hywel Davies Trust- Core Funding Grant
Wales & West Ulilities- Fuel Poverty
PAVS- Making It Happen
PAVS- Slow Cooker Project
M Davies Charity- Restricted Grant
WCVA- Sustainable Fashion Restricted
Nalional Lottery- Awards for All
Soup Making Project
570,879
149,851
570,879
149.851
462.000
462,000
1,494
1,494
1,569
1,569
4,543
3,778
25,565
11,284
30,000
11,167)
24,910
468
(24,598)
4,855
4,246
(25,565)
111,284)
115,0001
(21,7731
15.000
2,060
25,000
5,000
27,797
{3,7791
127,7971
{4,4261
15.000)
(139,222)
1,221
9,700
5,000
65,078
5,274
1.292,593
1,218,449
At
Expendlture 31 March 2023
At 1 April 2022
Incom8
Hywel Davies
PCC 9ranl new building
PCC grant refurbish exisling building
Community fridge grant (WCVA>
Zeio wasle schools
Milford Haven Port Authority
Bags of Care
WCVA- Penny the Polar Bear
WCVA- Green Shed Re-use Project
P. Dock Community Fridge
2,501
570,879
149,851
26,671
462,000
300
356
1,494
93
2,500
{2,501)
570,879
149,851
126,6711
462,000
{3001
13561
1,494
(93)
(931)
1,569
18-

Pembrokeshire Frame Limited
Company Limited by Guarantee
Notes to the Financial Statements {¢ontlnu¢dJ
Year ended 31 March 2024
23. Analysis of charitable funds fcontlnued)
Neighbourly (Aldi)
WCVA- VWG Small Grant
Kick-slart Grant
PAVS- Main Scaf
Poslcode Community
National Lottery
Bluestone Resorts Ltd
Persimmon Homes
Pembrokeshire Coast National Park
Moondance Foundation
PCC- Hoffleless Support Grant
Lloyds Bank Foundation
Hywel Davies Trust- Wellbging Grant
Hywel Davies Trust- Corè Funding Grant
Wales & Wesl Utilltle5- Fuel Poverty
PAVS- Maklng It Happen
PAVS- Slow Cooker Proleel
M Davies Charity- Restrlcled Grant
WCVA- Sustainable Fashion Reslricted
National Lottery- Awards for All
Solsp Making Projecl
317
(1.893)
1,026
13171
11071
{8,896)
191
120,0001
{10,0001
(9001
(1,0001
124,9591
134,6931
(18,2221
119,3081
{13,7161
115,0001
126,1671
(9,4851
(2.5001
2,000
7,870
20,000
10,000
900
1.000
24,959-
39,236
2,000
17,623
4.543
3,778.
25,565
11,284
30,000
(1,167)
20,000-
27,25ti
25,000
45,000
25,000
9,485-
2,500-
5,000
34,585-
5,000
27,797
(6.7881
1.331.822
203,690
(242,919)
1,292,593
l tyrooty
19-

Pembrokeshire Frame Limited
Company Limited by Guarantee
Notes to the Financial Statements IGonllnuod)
Year ended 31 March 2024
23. Analysis of charitablg funds (contlnuéd)
Hwel Davies - grant received to fund the purchase of mobility scooters.
PCC grant new building - grant received to fund new Merlins Bridge property.
PCC grant refurbish exlsllng buildlng orant received to refurbish existing Merlins Bridge property.
Communily Fridge Grant {WCVA)- grant recèived to sel up communily fridge project.
Zefo Waste Schools - grant received lo run pilot project to increase recycling in schools.
Milford Haven Port Authority- grant received for signage on Charity van.
Bags of Care - granl received to fund tesco bags of care
WCVA- Penny the Polar Be8r- grant to set up new mascot and campaign
WCVA- Green Shed Re-use Project- grant to aid re-use projects
P. Dock Comm Fridge - grant rec8lved to set up community frldge project
Neighbourly IAldi}- grant to help with ongoing community fridge prolecls
WCVA- VWG small grant- grant received for upholstery project
Kick-slart Grant grant received for upholstery training and painting workshop Iraining
PAVS. Main Scaf- grant recelved lo hold a series of upholstery and palnllng workshops free to the public
Poslcode Lottery - grant received for core funding
National Lottery- grant received for co-ordinator costs for zero waste shop in Pembroke Dock
BIu8Stona Resorts Ltd- grant received to purchase a fridge for Pembroke Dock community fridg8
Persirnmon Homes - grant received for equipment for r&upholstery
Pembrokeshire Coast National Park- grant received to set up zero waste shop in Pembroke Dock
Moondance Foundation - grant received for wages and training for re-upholstery support worker
PCC - Homeless Support Grant- grant recelved to provlde furniture when ie-homing homeless cltlzens
Lloyds Bank Foundalion - grant received for core funding
Hywel Davies Trust- Wellbeing Grant- grant received to support employment of a well-being support worker
Hywel Davies Trust- Core Funding Grant - grant received lo support individuals in gaining work experience
Wales & West Utilities - Fuel Poverty- granl received lo support the Fuel Poverly Officer raise awareness
PAVS- Making It Happen - grant received lo provide free meals during the school holidays
PAVS- Slow Cooker Project- grant received to support families cook heallhy meals
M Davias Charity- Restricted Grant- grant received to support the reopening of our kitchen to provide meals
20-

Pembrokeshire Frame Limited
Company Limited by Guarantee
Notes to the Financial Statements foonllnugd)
Year ended 31 March 2024
23. AnalysSs of charltable funds (contlnued)
WCVA- Sustainable Fashion Restricted - grant received to improve the reuse of clothing donated to the charity
Nalional Lottery Awards For AJI - grant received for wages and equipment for new staff for painted furniture
Soup Making Project- grant received to provide soup makers, ingredlents and recipe cards for disadvanlaged
24. Analysls of net assets between funds
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Tangible fixed assets
Current assets
Creditors greater Ihan 1 year
Net a8set8
445,405
294,985
(274,357)
466,033
756,549
461,900
1,201,954
756,885
1274,357)
1,684,482
1,218,449
Unrestricted
Funds
Reslricted
Funds
Total Funds
2023
Tangible fixed assets
Current assets
Creditors greater than 1 year
Net assets
514,893
215,266
{293,087)
437,072
830,673
461,920
1,345,566
677,186
(293,0871
1,729,665
1,292,593
25. Analysls of changes In net debt
Al 1 Apr 2023
Cash flows At 31 Mar 2024
Cash at bank and in hand
Debl due within one year
Debt due after one year
678,596
(21 ,6571
(293,0871
363,852
99,202
2,310
18,730
120,242
777,798
(19,347
1274,357)
484,094
21

Pembrokeshire Frame Limited
Company Limited by Guarantee
Management Information
Year ended 31 March 2024
The following pag88 do not form part of Iha flnanclal slat8ments.
22-

Pembrokeshire Frame Limited
Company Limited by Guarantee
Detailed Statement of Financial Activilies
Year ended 31 March 2024
2024
2023
Income and endowments
Donations and legacles
Donations
18,362
7,398
Charltable activities
Shop income
Training income
Grants
Contracts and service level agreements
525,776
464,125
340
238.690
304,417
105,078
315,864
946,718
1,007,572
Investment Income
D8POSIt accounl interest
3,358
343
Other Income
Rental income
13,981
22,121
Total incorne
982,419
1,037,434
Expendlturo
Expèndltu re on charltable actlvltles
Purchases
Wages and salaries
Employer's NIC
Repairs and maintenance
other establishment
Motor vehicle expenses
Legal and professional fees
Telephone
Depreciation
Intèrèst on b8nk loans and overdrafts
Other Interest payable and similar charge5
Volunteer expenses
Stall training
Capital good5 scheme & parllal exemption
ProliU(loss) on disposal of fixed asset
(106,196)
(159,884)
(702,752)
(593,960)
{45,4381
(37,727)
{14,4531
{9,311)
{65,4021
(57,4681
(48,8761
(38,5011
(30,545)
18,532}
(26,452)
127,199)
(34,358)
140,167)
{7,573)
(6,969)
{23,697)
(14,476)
(10,252)
(8,976)
{2,6541
(1.160)
2,240
2,170
88,806
13,0671
{1,027,602) 11,005,227)
Total expenditure
(1,027,602) (1,005,227)
Net18xp8nditure)lin¢ome
{45,183)
32,207
-23-