COMPANY REGISTRATION NUMBER: 4037005 CHARITY REGISTRATION NUMBER: 1090949 Pembrokeshire Frame Limited Company Limited by Guarantee Unaudited Financial Statements 31 March 2025
Pembrokeshire Frame Limited Company Limited by Guarantee Financial Statements Year ended 31 March 2025 Pages Trustees, annual report (incorporating the directorfs report) 1to13 Independent examiner's report to the trustees 14 Statement of financial activities (including income and expenditure account) 15 Slatement of financial position 16 Statement of cash flows 17 Notes to the financial statements 18to28 The following pages do not form part of the financlal statements Detailed statement of financial activities 30
Pembrokeshire Frame Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) Year ended 31 March 2025 The Iruslees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2025. Reference and administrative detalls Register8d charity nam8 Pembrokeshire Frame Limited Charity registratlon number 1090949 Company reglstratlon number 4037005 Prlnclpal offlce and reglstered offlce Old Press Buildings Old Hakin Road Merlin's Bridge Haverfordwest Pembrokeshire SA61 1XF The trustees Mr A S Harries - Treasurer Mrs M C Stonehill Mr P M Jones Mr P G Smith Ms D J Brown Mrs E A Clarke- Chair (Appointed 8 December 2024) (Appointed 6 December 2024) (Resigned 15 August 20241 Ind&pendent examlner Bruce Evens (Senior Independent Examiner) Hamillon House Hamilton Terrace Milford Haven Pembrokeshire SA73 3JP
Pembrokeshire Frame Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) fcontlnuedj Year ended 31 March 2025 Structure. governance and management Governing docufflent The charity 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. Appolntment. Inductlon and tralnlng of new trustees Potential trustees may be co-opled to the board prior to election by members at an AGM. It is planned that trustees will bring to the board a range of skills from business, professional, social care and community backgrounds relevant to the Charity's operational and social objectives. Potential new trustees are interviewed and provided with a comprehensive induction to the organisation, an induction pack and relevant guidance on trustee related roles and responsibilities. Ongoing opportunities are offered for trustee51o attend training courses. Thecharity has a close working relationship wilh Pembrokeshire County Council, which can nominate a representative to the Board as an advisor for any issues which may arise regarding the Local Authorily Conlracl. Organisational structure The Iruslees are responsible for formulating policies and procedures and for ensuring the correct level of internal conlrol. The day lo day running of the charity is the responsibilily of the Chief Executive Officer Ellen Petts who took over from Chief Officer Paul Hughes in December 2024 and the management team, who report lo the trustees at their regular meetings. The charity also undertakes social accounting annually. Flnanclal controls Control over the client affairs is affected by an inspection by the trustees. Related partles The charity has a close working relationship with Pembrokeshire County Council, which can nominate an advisor to the Board. Rlsk management The trustees have recognised the loss of grant funding and a failure of its duty of care to the seNice users as it8 major risks. To mitigate the loss of funding, a reserves policy has been created to enable the principal objective5 to continue and to meet any statutory or contractual commitments which may arise as a result of the loss. Suitable levels of supervision, training and procedures have been put in place to ensure the standard of care is of Ihe highest level. Internal controls and internal audit procedures have also been implemented to safeguard against risks. The charity has the appropriate levels of insurance to cover public liability, fidelity and other areas relevant to its operations.
Pembrokeshire Frame Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) fcontlnued) Year ended 31 March 2025 Objectlves and actlvltles Company Misslon FRAME promotes social inclusion through meaningful supported reuse and upcycling training and services. It also reduces carbon and helps alleviate the effects of poverty by providing low cost reused household items. Charltable ObJectlve5 To promote and provide education, training and employment opportunities lo persons from any disability group or those who are socially excluded. FRAME aims to provide pathways to meaningful work, skill development and life- changing opportunities while championing environmental sustainabilily through reuse and recycling. Slgnlflcanl acllvltles The charity's activities include the provision of education, training and employment opportunilies to those with and recovering frorn 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.
Pembrokeshire Frame Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (¢onllnu¢d) Year ended 31 March 2025 Achievements and performance Charitable activities Whilst the year from April 2024 to March 2025 has undoubtedly been challenging, much has been accomplished through the diverse and highly valued work of Pembrokeshire FRAME. We afe uniquely placed within our county as the only charity providing supported-employment opportunities via reuse and recycling services. With a hislory going back over 30 years, we are a well loved and respected anchor organisation in Pembrokeshire. We continue to operate popular and successful Retall Showrooms at Merlin's Bridge and Pembroke Dock where high-quality reused furniture and household items are made available at affordable prices to local communities. Following some renovation and reorganisation in 2024 in each retail space, we have seen continued growth in retail revenue at both locations, bucking the trend of decline experienced by other charity retail operators nationally. Sitting alongside, dovelailing with our relail reuse sales, we continue to operate a number of projects, the output of which rnakes our sales proposition distinctive and with appeal to a wider customer audience. Our Textlles Acros5 Pembrokeshlre, TAP, project has not only produced a significant increase in retail sales of our carefully sorted recycled clothing but also includes our own label vintage brand 'Found it at FRAME" The team's workshops give participants hands-on experience in sorting, repairing, and repurposing discarded garments, giving them new life for resale in our outlets, extending the life of textiles, and reducing landfill. The project provides a supported route into textile reuse offering practical skills in sewing, mending, calegorising, and resale preparation. The TAP project supported 20 participants, repaired or reused 20,873 garments and delivered 20 workshops. In November 2024, the textile team was recognised for ils contribution to community development, receiving the Team award from Pembrokeshire Association of Voluntary Services. Our specialist Furnlture Surgery operates throughout the week and provides supported training and public facing 'Fix it Friday workshops These affordable hands-on sessions invite local residents to restore treasured pieces while learning upholstery techniques. Led by FRAME'S in-house upholstery expert, the project delivers confidence and skill building for participants of all abilities, teaching volunteers and participants a wide range of furniture upcycling and upholstery skills. The majority of reupholstered items are sold in our retail shops promoting circularity and community pride, but a limited number of commissions are also accepted. The team provided 535 hours of Fix il Friday training, 151 workshop sessions and diverted 2563kg from landfill. 'It's more than just fixing a chair- it's fixing confidence, People come in unsure and leave with skills they didn't think they had, Our 'On8 of a Klnd" celebrates creativity, sustainability, and transformation. The project focuses on restoring and artistically reimagining older or unusual household items through painting, decoupage, and woodwork. Supported by a specialist project lead, participants are taught to assess, repair, and enhance each piece to showroom standard. These products are combined with newly upholstered items in areas of our retail showrooms that combine in our uniquely curated House of Frame areas. 28 workshops were delivered and 2823kg were diverted from landfill with the involvement of 88 participants. 'House of FRAME" blends quality, originality and reuse selling donated vintage, high value and unique reused household items, The shop is entirely staffed by volunteers so makes a valuable contribution to our bottom line as well as widening our customer base to include those seeking out higher-value items. Blueskys is a therapeutic gardening and growing initiative supporting wellbeing and environmental connection through outdoor volunteer work.
Pembrokeshire Frame Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2025 Our wood workshop supports us in mending and reworking wood-content items that we can reuselresell rather Ihan them being wasted. As in all our projects it also provides valuable skill training opportunities around wood and furniture reuse. The wide range of repair work Carried out in thè workshop enables furniture to be restored to a saleable condition and saves wastage. The Green Shed is our community reuse centre and hub for local engagement, education, and hands-on volunteering. Together, these initiatives form a dynamic ecosystem of circular economy activity - supporting people to learn, grow and contribute, while advancing sustainability across Pembrokeshire. Additional key areas wilhin our diverse but linked Work portfolio are Continuing to deliver Pembrokeshire County Council contracts for collection of Bulky Household Wasle and Second Stage Processing (breaking down components and separating for recycling). FRAME have operated these conlracls for over eighteen years. Funded by Wales and West Utilities, our FRAME'S Fuel Poverty Support Project offers direct person- centred support lo individuals and households facing energy hardship. Through advice, advocacy and practical help, the team reached over 1,500 people this year, providing targeted assistance al 75 local events. They distributed 156 warm packs and achieved £24,231 in financial benefit through grants, vouchers, and cost-saving advice. Support included help accessing DAF payments, Children in Need essentials, tariff reviews with Dwr Cymru and provision of slow cookers to support energy-efficient cooking. 'Our role isn't just about reducing fuel bills it's about helping people feel supported, valued and more confident in managing day-to-day challenges, That's what FRAME is all about." Our Furniture Support service provides and delivers low-cost or funded furniture and household items to low-income local residents in-need. This service is for people referred to Pembrokeshire FRAME, and has been partially funded by grants from Pembrokeshire County Council and South Hook LNG. Frame On-line. FRAME carefully sorts donated goods and lists up to 1000 items per week on various platforms including Ebay and Vinted. We began claiming Gift Aid, where applicable, on collections of furniture. This is a revenue stream with potential lo increase in fulure and is captured and processed by our new EPOS system that h8s also provided us with greatly improved data on our retail sales mix. Our Impact In Soclal Value Statlstlcs by Stakeholder- from Soclal Value Engln8 Households helped £1,602,172162.97 % ) Employees benefilling £408,346116.05 % ) Tonnes of C02 saved £178,98617.050/01 People £169,362 (6.660/0) Volunteer Hours £107,55414.23% ) Tonnes £77,942 (3.060/0) Our Impact at an Indivldual Level "Since joining FRAME, I've gained confidence, grown through new skills and support and found a community that's been there for me both practically and emotionally" Jodie
Pembrokeshire Frame Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (conllnued) Year ended 31 March 2025 "Honestly, this place has changed me. I now feel like I have a purpose in life, I've also learned that when I give people a chance, l actually like them., Ryan Mor8 About our Impact Since being established in 1993, FRAME continues to be a pioneering social enterprise and charity operating across Wesl Wales and delivering person-centred support, training, and volunteering opportunities through the practical application of circular economy principles - turning waste into opportunity and exclusion into empowerment. Purpose- driven, we build inclusive low-carbon Communities by addressing two of society's biggest challenges.. environmental waste and social inequality. FRAME does this by focusing our impact across four interlinked pillars. l. People We tackle social exclusion by providing meaningful training, supported employment and volunteering for people experiencing disadvantage, including mental health challenges, disability, poverty, or long-term unemployment. 1162 volunteer days contributed. 40 local people employed in reducing the environmental impact of otherwise wasted materials. 1544 individuals supported by our Fuel Poverty Team, accessing guidance, savings, and vital resources. Inclusive projeds across textiles, furniture, gardening, and retail. 2. Planet Through reuse, repair and upcycling, we extend the life of materials, reduce landfill and contribute to nalional zero waste goals. 1001 tonnes of household items collected. 789 lonnes of materials diverted from landfill by being reused or recycled. First Carbon Impact Report for the organisation completed, informing future steps towards our own net zero future. 3. Place We operate a network ofwelcoming spaces - from our furniture showrooms to our textile and gardening hubs - where individuals connect, learn and contribute to their local area. Projects located in Merlln's Bridge, Pembroke Dock and at the Green Shed Strong partnerships with Pembrokeshlre County Councll and local organisations Active presence at 75 communlty events through our fuel poverty work. 4, Practlce As an anchor organisalion, FRAME plays a strategic role in shaping a circular economy across Pembrokeshire. We work collaboratively with public, private and third sector partners to share knowledge, strengthen capacity and champion the integration of social inclusion within environmental solutions. Strategic alignment with.. Well-being of Future Generations (Wales) Act 2015 Welsh Government's Circular Economy Strategy - Beyond Recycling UN Sustainable Development Goals (SDGS) Pembrokeshire County Council Environmental Services Strategy {2025-20301 Ccmmilment to continuous learning and improvement, supported by our first Carbon Impact Report Strong governance, transparent leadership and embedded co-production values. Whal we do- Social Value by Outcome Through our unique, person-centred model of support that combines.. Supported employment and volunteering for people distanced from the labour market. Training in green skllls, including upcycling textiles, textile repair, gardening, and reuse retail. Waste reduction through reuse, repair, and circular enterprise - helping to meet Wales's zero waste and net zero carbon ambitions. We achieve social value by outcome as follows..
Pembrokeshire Frame Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (¢ontlnued) Year ended 31 March 2025 Fuel Advice £1,249,894149.12 % ) Families receiving free items £352,278 (13.850/0 Employees £297,932 {11.71 % ) Reduced C02 £178,986 (7.03 /0) Improved Wellbeing £107,965 (4.240/0) Volunteering Hours £107,552 {4.23 %) Employment Training £72,591 (2.850/0) Reduction in Landfill £63,304 (2.49 % ) Training for Employees £37,82211.490/0) Daycare Support and activities £33,409 {1.310hl Service Level Agreements £27,988 (1.100/0) Charity Shop Activity £14,638 {0.58 % ) (Calculations from Social Value Engine) Strategic flt and pollcy allgnment Pembrokeshire FRAME'S work contributes to a wide range of policy goals and frameworks at the local, national, and global levels. Our activities around reuse. repair, skills development, and inclusion align with Wales's circular economy ambitions, the Well-being of Future Generations framework, local government strategies, the UN Sustainable Development Goals ISDGSI, and broader Environmental, Social and Governance (ESGI principles. FRAME Impact Area W8l8h Gov & Local Strategy Well-belngGoal8 SDGS ESG Themes People Beyond Recycling: Tools for communily action PCC Strategy.. Behaviour chang8, communlty-led reusa A Prosperous Wales Amore Equal Wales A Healthlerwales SDG 4.. Quality Education SDG11: Sustainable Communities Social Iskllls. Inclusion, wellbeing) Planet B8yond RecyclingTargets:. 70% r8cycling by 2025- Zero Waste to landfill - Net zero carbon by 2050 PCC Str8tegy: Prevention, reuse A Resilient Wales • SDG 12., A Globally Rgsponsible Responsib18 Consumption Wales SDG 13.. Climot8 Action Envlronmental (waste, clrcula¥ity, carbon) Place Beyond Recycling: Keeping resources Ioc81 PCC: Enhancing environmental sustainabi1Sty A Wales of Cohesive Communities A Vibrant Culture • SDG 17: Partnerships SDG 11.. Sustainable Communities Social I Environmental (local d8llvery, community benefit) Practlce Partnership with PCC & third sector A Glob811y Responsible Wales SDG 17: Partnerships for the Goals Governance (accountability, partnershi psl Focus on co-design 8nd sh8red responsibility
Pembrokeshire Frame Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (contlnued) Year ended 31 March 2025 Delivering the national circular economy strategy Pembrokeshire FRAME'S mission and operations strongly align with the vision and core principles of 8eyond Recycling the Welsh Government's strategy to transition Wales to a zero waste, net zero carbon nation by 2050. This strategy moves beyond traditional recycling to prioritise system-wide circular thinking, with the following guiding principles.. 1. Prevention first FRAME prioritises waste prevention by promoting reuse, repair, and upcycling reducing demand for virgin materials and landfill. Our social enterprises exiend the life of household items and materials thal would otheise be discarded. 2. Circular thinking across the system Our model embeds circular economy practices across multiple touchpoints - from retail and education to volunteering and public partnerships. By making reuse and repair mainstream, we are helping to shift Pembrokeshire's economy from a linear to a circular System. 3. Making the right thlng the easy thing to do FRAME provides accessible reuse options through our furniture showrooms, texiile hubs, and community education. By combining convenience with affordability, we enable sustainable choices for all, including low-income households. 4. Keeping resources local AII FRAME activities are rooted in local communities. We keep valuable materials, skills, and enterprise within Pembrokeshire, supporting local jobs, supply chains, and wellbeing through resource stewardship. S. Shared responslbllSty We work closely with local authorities, businesses, and community organisations to co-deliver circular economy outcomes. FRAME is a practical example of shared responsibility in action where citizens, Ihird sector, and government collaborate on sustainable solutions, 6. Evldence-based actlon FRAME monitors ils environmental and social impacts, using real data to drive decisions and improve services. Our conlribulions to waste diversion, skills development, and community wellbeing support the broader outcomes of the circular econorny transition. 7. A Just transltlon At the heart of our work is a commitment to inclusion, fairness, and opportunity. FRAME supports individuals facing barriers - such as poverty, disability, or mental health challenges to access meaningful work and build green skills for the future. Together, these principles reflect the ethos of Pembrokeshire FRAME and reinforce our role as a community-based driver of Wales's circular economy transformation. Delivering th8 Future Genoratlons Well-belng Goals Pembrokeshire FRAME'S projects deliver tangible, local impact that aligns closely with the seven well-being goals enshrined in the Well-being of Future Generations Act. Below, we map our core activilies and outcomes to each goal, demonstrating our contribution to building a more sustainable, inclusive, and resilient Wales. 1. A Prosperous Wales A nation that develops a skilled and well-educaled populalion.. and which encourages a low carbon society. FRAME Contribution: Skills development and employability through creative reuse and repair workshops.. TAP project leaches sewing ancl textile repair, with three staff employed and 20 participants supported. Furniture Surgery teaches volunteers upholstery and upcycling skills, with weekly training sessions and public "Fix it Friday" workshops. One of a Kind and wood workshop projects build skills in furniture restoration, woodwork, and creative design. Our projects generate green job pathways and build local capacity for low-carbon enterprise. 2. A Resilient Wales A nation which maintains and enhances a biodiverse natural environment, with healthy functioning ecosystems.. and which supports global sustainability.
Pembrokeshire Frame Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2025 FRAME Contribution: Diverted 1,001 tonnes of household items from landfill. Reused or recycled an additional 789 tonnes of materials. PreseNed the useful life of textiles, wood, and furniture conserving raw materials and prolecting natural habitats. Initiated our first Carbon Impact Report, laying the groundwork for planned reductions toward net zero. 3. A Healthier Wales A society in which people's physical and mental well-being is maximised and in which choices and behaviours that benefit future health are understood. FRAME Contrlbutlon: Volunteer and training programmes provide purpose, structure, and mental wellbeing benefits to individuals facing challenges such as mental health issues, poverty, and social isolation. Fix it Friday and TAP sessions foster community participation and emotional fulfilment through creative activity. A safe, supportive environment for participants to rebuild confidence and self-worth. 4. A More Equal Wales A society that enables people to fulfil their potential no matter what their background or circumstances. FRAME Contrlbutlon: Delivers inclusive opportunities for individuals facing barriers such as.. Disability Unemployment Mental ill health Fuel poverty TAP, Furniture Surgery, and One of a Kind projects actively support people who have been excluded from mainslream training or employment. The Fuel Poverty Support Team supported 1,544 individuals, providing £24,231 in direcl financial benefils and critical advocacy for essenlial services access. S. A Wales of Coheslve Communltles Attractive, viable, safe, and well-connected communilies. FRAME Contrlbutlon: Our retail showrooms and reuse hubs are community anchors that bring people together around shared values of sustainability and inclusion. 75 community events delivered through our fuel poverty work strengthened connections across Pembrokeshire's neighbourhoods. TAP, Furniture Surgery, and public workshops create spaces of belonging and contribution, especially for those at risk of exclusion. 6. A Wales of Vlbrant Culture and Thriving Welsh Language A society that promotes and protects culture, heritage, and the Welsh language. FRAME Contrlbutlon: Restores and celebrates traditional furniture and textile skills, keeping craft heritage alive through hands- on learning. Our creative reuse projects honour local resourcefulness and craftsmanship, integrating old with new in ways that reflect Pembrokeshire'5 identity. FRAME'S activities are place-based and rooted in local character, contributing to cultural resilience. 7. A Globally Responsible Wales A nation which lakes account of whether doing something could make a positive contribution to global well-being.
Pembrokeshire Frame Limited Company Limited by Guarantee Trustees, Annual Report {Incorporating the Director's Report) fcontlnued) Year ended 31 March 2025 FRAME Contribution: Aligned with the UN Sustainable Development Goals (SDGS 4, 11, 12, 13, and 17). Our activities reduce demand for imported goods and virgin materials, lowering global resource pressures. Carbon Impact Report commissioned in 2024 signals FRAME'S commitment to climate responsibility, wilh planned actions toward net zero. Contributes to national targets such as Zero Waste by 2050 and a Nel Zero Wales From Setbacks to Success Our deficit in the 2024125 financial year is largely the result of statulory minimum wage increases and higher utility costs, combined with a reduction in grant funding. Current Improvements During the year, Pembrokeshire FRAME has undergone considerable organisational change within both the Management and the Board. Our previous Chief Officer resigned and our long-standing previous Chair retired. 4 members ofthe Management team left the charity, two through planned retirements and the other to pursue new opportunities. Thenewchair, Board, ChiefExecutive Officer and Managers are all aligned with a drivelo see Pembrokeshire FRAME not just survive bul thrive. The new CEOS first priority was to conduct an in-depth consultalion with staff 8nd stakeholders to establish how and what people felt about FRAME and its missions and values. From this period of consultation, already in 2025 FRAME have made changes and improved communications in the following areas.. Updated our mission, vision and values in association with the both internal and external stakeholders Improved internal communications by reinstating regular meeting of managers and teams Ensured that our Members Council has resumed a regular meeting schedule and operates al the core of the charity as intended Met regularly with Pembrokeshire County Council and other external stakeholders like Bluestone re current and future contract opportunities Increased networking in the areas of reuse and sustainability Further improved Pembrokeshire FRAME as an oulward looking organisation, keen to Collaborate on any beneficial opportunities More regular dialogue with our accountants and auditors Ellen commented I was incredibly proud to take over the helm of this long-eslablished anchor charity in November 2024. FRAME has a well-deserved reputation to uphold in the community for supporting local vulnerable adults via engagement in the reuse, upcycling, and recycling of polentially wasted household items. Diverting over 1000 tonnes of otheiSe 'landfilled" materials for reuse or recycling this year is incrediblel Most important of all is the fact that FRAME has been able to provide a valuable and supported place of work to 96 supported participants Ihis year, with over a thousand hours provided to help individuals gain the self-confidence and skills that supported employment providesl" The Board has a new Chair, with experience of Accountancy, Marketing and Fundraising. Adrian Harris, a qualified Chartered Accountant has been appointed Treasurer and two Trustees appointed in December bring their valuable experiences to the Board covering marketing and communications, charity sector experience, education, training and neurodiversity. The Board plans to run a renewed board recruitment in quarter three this year, further strengthening the board. 10
Pembrokeshire Frame Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) {conllnugd) Year ended 31 March 2025 Future Plans in 25126 we have secured the services of the Cranfield Trust who are helping us to achieve better financial budgeting, forecasting, and business planning and have on-boarded an experienced Financial Manager, both of whom have already provided immensely valuable advice, support, and financial modelling. In 25126, via our new CEO we are developing new revenue streams based on our existing resources and expertise, including new funding support for our supported-employmenl work. In 25126, we are building a stronger management and board capacity with a new senior leadership group made up of locally experienced skilled individuals who bring growth and innovation capacity during this transitional period. In 25126 we are developing our staff and volunteer workforce, including introducing a new Volunteer and Supported Employment Strategy and a Three Corner Stone Staff Commitment Plan. In 25126 we are developing new links for supported employment including via Access to Work ad Pembrokeshire Council's supported employment Do IT framework In 25126 we are pursuing our provision of green skills via starting lo operate the planned-for Footholdl Planed Lottery funded 16 - 25-year Green Skills project for West Wales. In 25126, we have increased our funded Pembrokeshire College training provision threefold for the school year from September 2025. In 25126 we are growing our partnership with Bluestone Wales and our providing circular services and sust8inable wooden Ihal will continue to grow. In 25126, with another yeals funding for our Fuel Poverty Project from Wales & West, with potential for uplift in project services via our growing stakeholder provision for the Warm Wales agenda in the region. In 25126 we will produce a carbon reduction plan further contributing to regional Zero Waste and Net Zero strategies. In 25126 we will engage with our local authority better to provide increased contract services relating to housing, supported employment and reuse services. Thank youl The Board of Directors want to thank all the participanls, volunteers and staff for their continuing hard work and amazing comrnilment to the work of Pembrokeshire FRAME Ltd. during this period. We would also like to extend our sincere thanks to all those who have contributed funding, time, expertise, and encouragement in supporting our mission of creating opportunities for people, protecting the planet, and promoting community-led change. On an individual level we thank all our customers and donors. At an organisation level we are grateful to.. Pembrokeshire County Council Welsh Government WCVA (Wales Council for Voluntary Action) PAVS {Pembrokeshire Association of Voluntary Services) Wales and West Utilities The Moondance Foundation South Hook LNG
Pembrokeshire Frame Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (Contlnued) Year ended 31 March 2025 Revised Mission, Vision and Values Misslon FFIAM E promotes social inclusion through meaningful supported reuse and upcycling training and services. It also reduces carbon and helps alleviate the effects of poverty by providing low-cost reused household items. Vlslon To cultivate a community where individuals of all abilities thrive and are rewarded to drive positive change towards a fairer and more sustainable local economy via the provision of reuse and recovery seiCe5. Valu&s R- To treat all staff, clients and individuals with kindness and RESPECT. To be EMPOWERING to all staff, clients and volunteers. S To act in a SUSTAINABLE manner as an organisation, valuing materials and aiming to reduce FRAME'S environmental impact al all times. P- to behave and act PROFESSIONALLY while working for FRAME. E - to be EMPATHETIC and non-judgemenlal when dealing wilh all inlernal and external stakeholder groups. C - lo COMMUNICATE in an open and responsive manner actively listening and acting on participant responses and feedback. T - lo be TOLERANT and fair, respecting diversity, inclusivity and confidentiality in all aspects of the organisalion, operations. Ensuring we dèliver our needs We have recently completed a comprehensive review of our aims and objectives. This review, which involved both internal and external stakeholders is what has resulted in refreshed and more current mission, vision and values statements, which are still in accordance with our original aims and objectives. The mission, vision and values are regularly and widely circulated within the charily to guide our activities and behaviours. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
Pembrokeshire Frame Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2025 Financlal revlew Reserves poll¢y The Iruslees believe that the charity should hold financial reserves (the "Emergency Operating Reserve" because.. EOR) 1 It has no endowment funding and is entirely dependenl for income upon retail trading, donor funding, contracts from year lo year which is inevitably subject to fluctualion., 2 It requires protection against and the ability to continue operating despite catastrophic or lesser damaging events. The Iruslees believe that the ideal 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 charity's overall financial position and its need to maintain and develop its charitable activities. In the short term the trustees aim to reach an EOR of 3 months operating costs but are aware of the need to return to achieving a surplus in order to facilitate this. The current level of the EOR is £19D,000, wilh essential running costs currenlly amounting lo approximately £89,000 per month based on existing contracts giving a target EOR of £534,000. Efforts to build up the EOR to this level will continue in line with this policy, but with Ihe shorter term objective of reaching 3 months of operating costs totalling £267,000 at current rates. Results The charity is reporting an overall deficit for the year ended 31 March 2025 of £76,099 compared with a deficit of £45,183 in 2024. The deficit for the year has decreased funds carried forward from £1,684,48210 £1,608,383 of which £482,411 relate5 to restricted funds. The level of unrestricted reserves at the balance sheet date was £1,125,972. Investment powers Under the memorandum and articles of association, the charity has the power to make any investment which the trustees see fit. In view of the reserves position, the charity currently uses only interest earning bank accounts. Independent exarnlner A resolution to reappoint Evens & Co Ltd as independent examiners to the charity will be proposed at the annual general meeting. Small company provlslons This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. The Iruslees, annual report was approved on 6 October 2025 and signed on behalf of the board of trustees by.. ri Mrs E A Clarke Chair 13
Pembrokeshire Frame Limited Company Limited by Guarantee Independent Examiner's Report to the Trustees of Pembrokeshire Frame Limited Year ended 31 March 2025 I report to the trustees on my examination of the financial statements of Pembrokeshire Frame Limited {'the charity,) for the year ended 31 March 2025, Responslbllltles and basis of report The charity's trustees are responsible for the preparation of the accounls. The charity's trustees consider that an audit is not required for Ihis year under section 144 of the Charities Act 2011 1"Ihe Charities Act") and that an independent examination is needed. It is my responsibility to examine the accounts under section 145 of the Charities Act, lo follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5llb) of the Charities Act, and to slate whether particular matters have come to my attention. My examination was carried out in accordance with the general Directions 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. It also includes consideration of any unusual items or disclosures in the accounts, 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 set out in the next stalement. Independent examlnerfs statement Since the charity's gross income exceeded £250,000 your examiner musl be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies. In connection with my examination, no matter has come to my attenlion which gives me cause to believe that in, any material respect.. the accounting records were not kepl in accordance with section 130 of the Charities Act., or the accounts did not accord with the accounting records; or the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 otherthan any requirement that the accounts give a'lrue and fair, view which is not a matter considered as part of an independent examination. I have come acro55 no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Bruce Evens (Senior Independent Examiner) Independent Examiner Hamilton House Hamilton Terrace Milford Haven Pembrokeshire SA73 3JP 14
Pembrokeshire Frame Limited Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2025 2025 Restricted funds 2024 Unrestricted funds Total funds Total funds Notè Income and endowments Donations and legacies Charitable activities Investment income other income 60,245 839,171 4,491 17,330 60,245 905,615 4,491 17,330 18,362 946,718 3,358 13,981 66,444 Total income 921,237 66,444 987,681 982,419 Expenditure Expenditure on charitable activities Total expendlture 9,10 (982,028) 1982,028} 181,752) 11,063,780) (1,027,602) {81,7521 11,063,780) (1,027,602) Net expenditure 160,7911 (15,308) 176,099} (45,183) Transfers between funds 720,730 (720,730) Net mov8rn8nt In funds 659,939 (736,038) (76,0991 145,1831 Reconclllatlon of funds Total funds brought forward Total funds carrled fOrard 466,033 1,218,449 1,684,482 1,729,665 1,125,972 482,411 1,608,383 1,684,482 The statement of financial activities includes all gains and losses recognised in the year. All incorne and expenditure derive from continuing activities. The notes on pages 18 to 28 form part of these financial statements. 15
Pembrokeshire Frame Limited Company Limited by Guarantee Statement of Financial Position 31 March 2025 2025 2024 Note Fixed assets Tangible fixed assets Investrnents 17 18 1,181,096 1,201,954 1,181,097 1,201,954 Current assets Stock Debtors Cash at bank and in hand 19 20 3,270 65,971 684,057 5,363 27,816 777,798 753,298 810,977 Credltors: amounts falllng due wlthln one year Net current assets 21 (65,7721 (54,092) 756,885 687,526 1,868,623 Total assets less current Ilabllltles 1,958,839 Credltors: amounts falllng due after more than one year Net assets 22 {260,240) 1,608,383 (274,357) 1,884,482 Funds of the charlty Restricted funds Unrestricted funds 482,411 1,125,972 1,608,383 1,218,449 466,033 Total charity funds 23 1,684,482 For the year ending 31 March 2025 the charity was entitled to exemplion from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities.. The members have not required the company to obtain an audit of ils financial statements for the year in question in accorclance with section 478., The directors acknowledge their responsibilities for complying with the requirements of the Act with respect lo accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the Small companies, regime. These financial statements were approved by the board of trustees and authorised for issue on 6 October 2025, and are signed on behalf ofthe board by.. f [4 ILL Mrs E A Clarke Chair The notes on pages 18 to 28 fomi part of these tlnanclal statements. 16
Pembrokeshire Frame Limited Company Limited by Guarantee Statement of Cash Flows Year ended 31 March 2025 2025 2024 Cash flows from operatlng actlvltles Nel expenditure 176,099) {45,183) Adjustm8nls for Depreciation of tangible fixed assets other interest receivable and similar income InteTesl payable and similar charges Lossl(gainsl on disposal of tangible fixed assets 31,411 (4,491) 28,245 8,953 34,358 13,3581 31,270 (88,806) Changes in.. stock Trade and other debtors Trade and other creditors 2,093 138,165) 16,122 131,9211 11,3501 32,933 19,7701 (49,906) Cash generated from operations Interest paid Interest received 128,2451 4,491 (31,270) 3,358 Net cash used in operaling activities (55,6751 (77,818) Cash flows from Investlng actlvltles Purchase of tangible asset5 Proceeds from sale of tangible assets Acquisition of subsidiaries Net cash (used inllfrom investing aclivities (19,606) (22,939) 220,999 11) (19,507) 198,060 Cash flows from flnanclng actlvllles Proceeds from borrowings Proceeds fiom hire purchase agreements Net cash used in financing activities (12,068) (6,4911 118,559) (11,279) {9,7611 (21,0401 Net Ide¢reaselllncrease In cash and cash equlvalents Cash and cash equivalents at beglnnlng of year Cash and cash equlvalents at end of year 193,741) 777,798 99,202 678,596 684,057 777,798 The notes on pages 18 to 28 form part of these financlal statements. 17
Pembrokeshire Frame Limited Company Limited by Guarantee Notes to the Financial Ststements Year ended 31 March 2025 General 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 ofthe registered office is Old Press Buildings, Old Hakin Road, Merlin's Bridge, Haverfordwest, Pembrokeshire, SA61 1XF. Statement of compllance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the 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 1021 (Charities SORP IFRS 102)) and the Companies Act 2006. Accountlng pollcles Basls of preparatlon The financial statements have been prepared on the historical cost basis. as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entily. Golng concern There are no material uncertainties about the charity's ability to continue. Governance costs Governance costs include costs of the preparation and examination of the statutory accounts, the cosls of trustee meetings and the cost of any legal advice to trustees on governance or constitulional matters. Taxatlon The charity is exempt from corporation lax on its charitable activities. Capltal goods scheme Under the capital goods scheme which is followed by the charily, differences are written off to the profit and loss in the year they occur. Judgements and key sourc88 of e8tlmation uncertalnty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affecl the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Fund accounting Unre51ricted income funds are general funds that are available for use at the trustees, discretion in furtherance of the objectives of the charity. Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted lo that area or purpose. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 18
Pembrokeshire Frame Limited Company Limited by Guarantee Notes to the Financial Statements (¢onflnuedJ Year ended 31 March 2025 Accounting pollcles (contlnued) Incoming resources All incoming resources are included in the statement of financial activities when enlitlement has passed to the charity,. it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories 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 atthe fair value ofthe goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with 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 it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates.. expenditure on raising funds includes the costs of all fundraising activities, events, non-charilable trading activities, and Ihe sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charily apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable aclivilies. All costs are allocated to expenditure categories reflecting the use of the resource. Direct cosls attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. Tanglble assets Tangible assets are initially recorded at cost, and subsequently slated al cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the dale of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Depreclation Depreciation is calculated so as to wrile off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows.. Land and buildings Other plant and machinery etc 20/0 Straight line 150/0 and 25,/0 on a reducing balance basis 19
Pembrokeshire Frame Limited Company Limited by Guarantee Notes to the Financial Statements (¢ontlnuedJ Year ended 31 March 2025 Accounting policies (Contlnued) I nvestments Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment. Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure. lrnpalrment of fixed assets A ieview for indicators of impairmenl is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is irnpaiied accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generaling unil lo which the asset belongs. The cash-generating unil is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets, stocks Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and olher costs incurred in bringing the stock to its present location and condition. Flnanclal Instruments A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any relaled transaction costs, unle55 the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interesl for a similar debt instrument. Current assets and current liabilities are subsequently measured at the cash amount or other consideration expected lo be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Llmlted by guarantee The company is limited by guarantee and therefore does not have any share capital. The liability of the members in the event of the company being liquidaled is limited to £1 per member. Donations and legacies Unrestricted Total Funds Funds 2025 Unreslricted Funds Total Funds 2024 Donatlons Donations 10,245 10,245 18,362 18,362 20
Pembrokeshire Frame Limited Company Limited by Guarantee Notes to the Financial Statements (Conllnued) Year ended 31 March 2025 Donations and legacles (contlnued) Unrestricted Total Funds Funds 2025 Unrestricted Funds Total Funds 2024 Legacies Legacies 50,000 so,000 60,245 60,245 18,362 18,362 Charitable activities Unrestricted Funds Restricted Tolal Funds Funds 2025 Retail Grants PCC and other contracts 507,443 507,443 66,444 331,728 905,615 66,444 331,728 839,171 86,444 Unrestricted Funds Restricted Funds Total Funds 2024 Retail Grants PCC and other contracts 525,776 40.000 315.864 525,776 105,078 315,864 65,078 881,640 65,078 946,718 Investment Income Unrestricted Total Funds Funds 2025 Unrestricted Funds Total Funds 2024 Deposit account interest 4,491 4,491 3,358 3,358 Other Income Unrestricled Total Funds Funds 2025 Unrestricted Funds Total Funds 2024 Rental income 17,330 17,330 13,981 13,981 21
Pembrokeshire Frame Limited Company Limited by Guarantee Notes to the Financial Statements (¢ontlnuedJ Year ended 31 March 2025 Expenditure on charitable activities by fund type Unrestricted Funds Restricted Total Funds Funds 2025 Retail PCC contracts Other contracts Support costs 379,668 232,158 25,624 344,578 34,062 42,940 4,750 413,730 275,098 30,374 344,578 982,028 81,752 1,063,780 Unrestricted Funds Restricted Funds Total Funds 2024 Retail PCC contracts Other contracts Support costs 321,248 196,576 17,598 352,958 102,677 36,545 423,925 233,121 17,598 352,958 888,380 139,222 1,027,602 10. Expendlture on charltable actlvltles by actlvlty type Activities undertaken directly Support costs Total funds 2025 Total fund 2024 Retail PCC contracts Other contracts Goveinance co818 413,730 275,098 30,374 200,655 122,695 13,537 7,691 614,385 397,793 43,911 7,691 1,063,780 630,924 360,676 28,812 7,190 719,202 344,578 1,027,602 11. Analysis of support costs Analysis of support costs Total 2025 Total 2024 Staff costs Premises General office Finance costs Governance costs 159,271 125,244 25,229 27,143 7,691 159,271 125,244 25,229 27,143 7,691 160,939 118,026 35,897 30,906 7,190 344,578 344,578 352,958 12. Net expenditure Net expenditure is staled after chargingl(creditingl'. 2025 2024 Depreciation of tangible fixed assets 31,411 34,358 22
Pembrokeshire Frame Limited Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2025 13. Independent examiners fees 2025 2024 Fees payable to the independent examiner for-. Independent examination of the financial statements 7,691 7,190 14. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows.. 2025 2024 Wages and salaries Social security costs 726,998 49,283 776,281 702,752 45,438 748,190 The average head count of employees during the year was 42 (2024.. 42). The average number of full-time equ ivalenl employees during the year is analysed as follow5.. 2025 No. 2024 No. Number of employees 42 42 No employee received employee benefits of more than £60,000 during the year {2024.. Nil). 15. Trustee remun8ratlon and expenses None of the trustees have been paid any remuneration (2024 £nill or received any other benefits from an employment with their charity or a relaled entity. 16. Transfers between funds In accordance with S214(el of SORP 2005 the value of fixed assets has been Iransferred from restricted lo unreslricled funds as the assel has been purchased from a restricted fund donation but the asset is held for a general and not a restricted purpose. 17. Tanglble flxed assets Land and Other plant and buildings machinery elc Total Cost Al 1 April 2024 Additions Disposals At 31 March 2025 1,383,825 19,506 199,849 1,583,674 19,506 (23,738) 1,579,442 (23,738) 176,111 1,403,331 Depreciatlon Al 1 April 2024 Charge for the year Disposals At 31 March 2025 219,017 25,407 162,703 6,004 114,7851 153,922 381,720 31,411 (14,785) 398,346 244,424 Carrying amount At 31 March 2025 1,158,907 22,189 1,181,096 1,201,954 At 31 March 2024 1,164,808 37,146 23
Pembrokeshire Frame Limited Company Limited by Guarantee Notes to the Financial Statements (Continued) Year ended 31 March 2025 17. Tangibl8 fixed assets (contlnued) Flnanc8 leases and hlre purchase contracts I ncluded within the carrying value of tangible fixed assels are the following amounts relating to assets held under finance leases or hire purchase agreements.. Motor vehlcles At 31 March 2025 7,752 Al 31 March 2024 17,749 18. Investments Shares In group undertakings Cost Al 1 April 2024 Additions At 31 March 2025 lrnpalrment At 1 Aprll 2024 and 31 March 2025 Carrylng amount At 31 March 2026 Al 31 March 2024 All investments shown above are held at cost. The Ch8rily owns 1000/¢ ofthe share capital of Pembrokeshire Frame Enterprises Limited, a company reglstered in England and Wales. Pembrokeshire Frame Enterprises Limited was incorporated on 5 July 2018 and has nol traded in the yearto 31 March 2025. Underthe provision of section 398 of the Companies Act 2006 the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the Charity as an individual entity. 19. Stocks 2025 2024 Stock 3,270 5,363 20. Debtors 2025 2024 Trade debtors other debtors 2,877 63,094 23,129 4,687 65,971 27.816 Other debtors includes an amount of £nil (2024 £nill falling due after more than one year. 24
Pembrokeshire Frame Limited Company Limited by Guarantee Notes to the Financial Statements l¢ontlnuedJ Year ended 31 March 2025 21. Creditors: amounts falling due wlthln one year 2025 2024 Loans and overdrafts (secured) Trade creditors Hire purchase agreements (secured) Social security and other taxes Other creditors 13,773 11,730 1,132 20,441 18,696 65,772 12,856 9,805 6,491 16,758 8,182 54,092 The loan facilities are secured by legal charges held by Pembrokeshire Counly Council over the properties of the company. The hire purchase creditors are secured against the assets to which they relate. 22. Ciedltors: amounts falllng due after more than one year 2025 2024 Loans and overdrafts (secured) Hire purchase agreements Isecuredl 260,240 273,225 1,132 260,240 274,357 Included within creditors.. amounts falling due after more Ihan one year is an amount of £194,015 {2024'. £221 ,801 } in respect of liabilities payable or repayable by instalments which fall due for payment after more Ihan five years from the reporting date. Monthly repayments of £2,781.37 due on the 25th of each month and an interest rale of 7.140/0 applies to the mortgage. 23, Analysls of charltable funds Unrestricted funds At Transfers 31 March 202S At 1 April 2024 Income Expenditure General funds 466,033 921,237 {982,0281 720,730 1,125,972 Al Transfers 31 March 2024 At 1 April 2023 Income Expenditure General funds 437,072 917,341 (888,380) 466,033 Unrestricted income funds are general funds Ihat are available for the use al the trustees, discretion in furtherance of the objectives of the charity. 2S
Pembrokeshire Frame Limited Company Limited by Guarantee Notes to the Financial Statements {conlinuedJ Year ended 31 March 2025 23. Analysis of charitable funds (continued) Restricted funds At Transfers 31 March 2025 Al 1 April 2024 Income Expenditure PCC grant new building PCC grant refurbish existing building Zero waste schools WCVA- Penny the Polar Bear P. Dock Community Fridge 570,879 (570,8791 149,851 462,000 (149,851) 462,000 1,494 1,569 (1 ,494) {1 ,569) Moondance Foundation PCC- Homeless Support Grant Lloyds Bank Foundation Hywel Davies Trust- Wellbeing Grant Hywel Davies Trust- Core Funding Grant Wales & Wesl Utilities - Fuel Poverty M Davies Charity- Restricted Grant WCVA- Sustainable Fashion Restricted National Lottery - Awards for All Soup Making Project South Hook LNG - Grant for deliveries for people in CflSIS 4,855 19,250 (5,358) 18,747 4,246 (4,248) 15,000 (15,0001 2,060 30,548 (31,1941 1,414 1,221 {1,221) 10,646 110,646) 5,274 (5,274) (1,0001 1,000 5,000 (4,750) (81,7521 250 1,218,449 66,444 (720,730> 482,411 26
Pembrokeshire Frame Limited Company Limited by Guarantee Notes to the Financial Statements (eonllnued) Year ended 31 March 2025 23. Analysis of charitable funds (¢ontlnu•dJ At Transfers 31 March 2024 At 1 April 2023 Income Expenditure PCC grant new building PCC grant refurbish existing building Zero waste schools WCVA- Penny the Polar Bear P. Dock Community Fridge Noondance Foundation PCC- Homeless Support Grant Lloyds Bank Foundation Hywel Davies Trust - Wellbeing Grant Hywel Davies Trust - Core Funding Grant Wale5 & West Utilities- Fuel Poverty M Davies Charity- Restricted Grant WCVA - Sustainable Fashion Restricted National Lottery - Awards for All Soup Making Project South Hook LNG - Grant for deliveries for people in crisis 570,879 570,879 149,851 462,000 149,851 462,000 1,494 1,569 4,543 1,494 1,569 4,855 24,910 124,5981 3,778 25,565 468 4,246 {25,565) 11,284 (11,284) 30,000 (15,000) 15,000 (1,167) 25,000 121,7731 2,060 5,000 (3,7791 1,221 27,797 127,7971 9,700 5,000 (4,426) 15,000) 5,274 1,292,593 65,078 (139,222) 1,218,449 PCC grant new building grant received to fund new Merlin's Bridge Property - the Green Shed. PCC grant refurbish existing building grant received to refurbish existing Merlin's Bridge property. Zero Waste Schools- grant received lo run pilot project to increase recycling in schools. This project was paused during covid and then éiscontinued due lo changes in legislation. Pembrokeshire FRAME are in negotiations with PCC and Welsh Government lo use the funds for a similar project. WCVA- Penny the Polar Bear- grant to set up new mascot and campaign Pembroke Dock Comm Fridge - grant received to set up community fridge project Moondance Foundation - grant received for wages and training for re-upholstery support worker PCC - Homeless Support Granl - grant received to provide furniture when re-homing homeless Citizens Lloyds Bank Foundation - grant received for core funding Hywel Davies Trust - Wellbeing Grant- grant received lo support employmenl of a well-being support worker Hywel Davies Trust- Core Funding Grant- grant received to help cover increased utility costs. 27
Pembrokeshire Frame Limited Company Limited by Guarantee Notes to the Financial Statements fconlinuedj Year ended 31 March 2025 23. Analysls of charitable funds (¢onllnued) Wales & West Utilities - Fuel Poverty - grant received to support the Fuel Poverty Officer raise awareness M Davies Charity- Restricted Grant - grant received to support the reopening of our kitchen to provide meals WCVA- Sustainable Fashion Restricted - grant received to improve the reuse of clothing donated lo the charity National Lottery Awards For All- grant received for wages and equipment for new staff for painted furniture Soup Making Project - grant received to provide soup makers, ingredients and recipe cards for disadvantaged South Hook LNG - grant received to provide delivery services for furniture to people in crisis 24. Analysls of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2025 Tangible fixed assets Investments Current assets Creditors greater than 1 year Net assets 1,181,096 1,181,096 205,115 (260,2401 1,125,972 482,411 687,526 1260,240) 1,608,383 482,411 Unrestricted Funds Restricted Funds Total Funds 2024 Tangible fixed assets I nveslments Current assets Creditors greater than 1 year Net assets 445,405 756,549 1,201,954 294,985 (274,357) 466,033 461,900 756,885 (274,357) 1,684,482 1,218,449 26. Analysls of changes In net debt At 1 Apr 2024 Cash flows At 31 Mar 2025 Cash at bank and in hand Debt due within one year Debt due after one year 777,798 119,347) (274,357) 484,094 (93,7411 4,442 14,117 684,057 (14,905) 1260,240 408,912 175,1821 28
Pembrokeshire Frame Limited Company Limited by Guarantee Management Information Year ended 31 March 2025 The followlng pages do not form part of the flnanclal statements. 29
Pembrokeshire Frame Limited Company Limited by Guarantee Detailed Statement of Financial Activities Year ended 31 March 2025 2025 2024 Income and endowments Donations and legacles Donations Legacies 10,245 50,000 18,362 60,245 18,362 Charitable actlvltles Retail Grants PCC and other contracts 507,443 66,444 331,728 525,776 105,078 315,864 905,615 946,718 Investment Income Deposit account interest 4,491 3,358 Other Income Rental income 17,330 13,981 Total Income 987,681 982,419 Expendlture ExpendSture on charltable actlvltles Purchases Wages and salaries Employer's NIC Repairs and maintenance Other establishment Motor vehicle expenses Legal and professional fees Other office costs Depreciation Interest on bank loans and overdrafts other interest payable and similar charges Volunteer expenses Staff training Capital goods scheme & partial exemption ProfiV(lossl on disposal of fixed asset (25,607) 1726,998> 149,283) 19,7391 174,409} {50,8271 {14,0321 <32,1931 (31,4111 (5,7141 (22,5311 (9,801) 12,282) (106,1961 (702,7521 (45,4381 114,4531 165,4021 148,8761 {30,545) {26,452) <34,358) {7,5731 (23,697) (10,2521 (2,6541 2,240 88,806 18,963 (1,063,780) (1,027,602) Total expenditure (1,063,780) 11,027,602) Nel expenditure 176,099 (45,183) 30