2024-03-31-accounts

Company registratlon number: 1816889 (England and Wales) Charfty registration number: 1094652 REPORT OF THE TRUSTEES AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR PROMOIYMRU LTD Robert Hugh Limlted Registered Auditors and Chartered Accountsnts 15 Dan y Bryn Avenue Radyr CardÉff CF15 8DD

ROMO-CYMRU LTD CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR END D 31 MARC 2024 Page RefeTence and Admini8tr8tion Detsils Report of the Trustees 21010 Statement of Trustees, Responsibilities 11 Report of the Independenl Auditors 121014 Slalemenl of Consolidated Financial Actwilies 15 Statement of Company Flrtancial ActwitEs 16 Balance Sheets 17 Statement of Consolidated and Company Cash Fk)ws 18 Notes lo the ConsolTdated Financial Ststements 19to34

PROMO.CYMRU LTD REFERENCE AND ADMINISTRATNE DETAILS Charlty name Promo-cymru Ltd Charity reglstration number 1094652 Company reglstration number 1816889 Principal office 17 West Bule Street Cardrff CF10 SEP Rgglstered offlce 17 West Bule Street Cardrff CF10 SEP The tharity is incorporaled in England and Wales. Trustees M Morgan, Chair M Bowden D M Martin MD Williams AS Ozalp D Finnegan JH Lee E Hails SeGrgtary Gil-cervantes Audttor¥ Rot*rt Hugh Limf(ed Registered Auditors and Chartered A￿LIn￿nts 15 Dan y Bryn Avenue Radyr CF15 8DD Page 1

PR O-CYM ULTD TRU TEES. REPORT The Iruslee5, who are d1￿CtOrS for the puiposes of compary law. present the annual report together with the financial statements and audilorfs report of the charitable company for the year ended 31 March 2024. structurg, Govemancg and Management Goveming Document The charity is controlled by its goveining document. its Memorandum and Articles of Association, and ts limited by guarantee and not having a share captt81. as defined by the Companies Arx 2006. Every member of the company undertakes to conlrlwle such amount as may be required {not exceeding £11 to the company's assets rf it shoukl be wound up while helshe is a member or within one year after helshe ceased lo be a member, for repayment of the companys debts arKf liabilities contracted before helshe ceased to be a member, and of the costs and eX￿nseS of winding up, and for Ihe adjustment of the rights of the conlribLrtors amongst themselves. Recruitment and Appolntmgnt of New Trustees The ￿4MpanY is directed by a board of tNslees. the members ofwhich are all committed lo the sectorfs principles and Ideals. The dlreclors of the company are also charty trustees for the purposes of charty law and under the company's Articles are known as members of the Council of Management. Under the requirements of the Memorandum and Articles of Association, the memb8rs of the Council gf Managemenl a￿ eleded lo serve for a year after which they musl be re-elected al the next Annual General Meeting. The memb&rs of the board receive no material benefits or remuneration from the company foT their lirne and seNlces. Induction and Training of New Trustees Most Iruslees aro already fami118rwTth the praGiical woth of the chanty. Infomation is made available ¢overing the following. The obligations of Management Commiitee members. The main tjocumenls which Sel out the operational framework for the charlty including the Memorandum and Articles of Asso￿allOn. Resourcing and the cvrrenl finarkctal posftion as set out in the lalest published accounts. Futurè plans and objectives. Oryanlsational Structure The board of trustoas. who meet b￿￿mon1hty. admintsler the charity. A chief exectrtive Is appointed by the trustees to manage the day-ttrday operation of the chartly. The trustees al the year end were as shown on page l. S Corria and A Rogan resigned as trustees on 25 October 2023. Page 2

PROMO-C RU LTD TRUSTEES. REP RT Widgr Network Promo-cymru has continued to work with a number of partnets. funders and dients. Thes& incllrde:. Partners: CoLFncil for Wales Voluntsry Youth Service- CWWS Wales Council for Voluntary AclK)n- WCVA Cwmpas Voluntary Councils across Wales European Youth Infomiation and Counselling Agency- ERYICA Catslysl National A¢ad8my for Educaltorkal Leadership Wales Local Authorities Welsh Government Funders.. The National Lottery UK Levelling Up Fund Weigh Govemmenl Clients.. CardSff Third SeGlor Council Development Trust AssoGialion Children in Wales Cyfannol Women's Ald Baiod Gwenl N-Gage Subsidiary Undertakings Promo-cymru Ltd is the holding company of 8 tradin9 subs>Jiary company Galled PromTrCymru Trading Limited. The piincipal activltles of the company in the year under reviewwere= 1. Acllvitie5 centred around provKling infomalion. advic8 and athocacy for young peO￿e and adults In Wales. This was arrled out under the project name MEIC (The National Infomiaiion and Advice arbd Advocacy SeNice- direct contact. telephone, instant messaging and text based). Plus. adum advocacy lines for Cardiff and Ihe Vale, 8ridgend and the counties of GwenL 2. The developmenl of the Ebbw Vale Institute as a youth. communty and cultural centre for the communities of Blaenau Gwenl and beyond. 3. In the area of digital. multimedia and communications. Promo-cymru Trading conllnued lo delfver goods and so￿lCe5 such as consuttation. service design, video production. social media training aThJ web5rte development and administration. Rlsk Managemgnt The INslees have a duty to Klentify and review the risks to which the charity 15 exposed and to ensure appropriate controls are in place to PTovide reasonable assurance against fraud and error. Major risks are reported to the board via the Chi8f Executive and Deputy Chièf Execuljve vla the project and finance reports produced for and presented al the PTomWmru Management Board. The examination will cover Ihe major slralegies, business and operational risks which the charity faces. The ￿pOrting system so established is lo enable regular reports lo be produced so that any necessary steps can be taken lo milvJale exposure lo these risks. These procedures are lo be periodicalty reviewed lo ensure that they still meet the needs of thè Charity. Page 3

PROMO.CYMRU LTD TRU ES. REP RT The risk n7anagemenl strategy will compdse:. An annual ￿leW of the risks the charity may face. The establishment of systems and procedures lo miluate those rfsks idenlrfie¢J in the plan. The implemenlalion of procedu￿ desb3ned to minlmise any potential impact on the charity should those risks malerialise. Trustees.. Risk management statement- reviewed each year. Conffiet ol interest register- updated each year. Trustee welcome pack inclusNe of sFJned slalemen15 of ability lo serve as a trustee. Staff.. Proof of ID required. DBS checks (where applicable). Relerenees. Probal*)n perrod. Regular appraisals. Comprehensive personnel files. Trained to ensure capabilty lo undertake Tole. HR: Ongoing updates and training to keep up wlth changes in legL8lalion. Robust policy and Procedu￿S- updates where requirod. Back up Jegal assistan￿ in place. Health & safety-. ¢)ffice risk assessments. Updates and training when necessary. Information technology.. All laptops are password protected. All laptops are sel for scheduled secunty update5 and a￿ protected by AVG anlniirus. Users are forced lo change their Office365 password every 90 days for securty. purposes. All websites are secured wilh SSL Certtficales. They are also protscled by Industry leading secuty plugin Wordfence_ Independent web security lesling takes place annualty. I websites are updated monthly for relevanl Ihemes. plugins and OS. The risk register of the orgonisalion is maintarned and regulaty reviewed al Iruslee meeting5. The tIU5tees' comments afid response to the risk register are re￿rded in the minute5 including follow up actions. The Iruslees are satisfied that Promfrcymru is undertaking all actions required lo mitigate risk across the organisalv)n. ObjeGtives and Acttvlties ObjeGUves and Alms The obleclNe of PrOm￿CYmrU is lo support the devekq)menl of young people. familles and the communrties they live in. Vision Creative Change for Soaal Good. Mlssion To communicate, design, bulld with young people and communiltes to make Ghange happen. Page 4

ROMO.CYMRU LTD TRUSTE S. REPORT How we work Promo-cymru partne[5 With third and public secaor5 to imagine. test and ￿ate more equitable services that are designed and delniered w￿h peop￿. We wtsrf( across.. Digftal Cumure Youlh and Commun Advocacy Communications Helplines Infomalion and advice Design Media Our work is informed by decades of delNertng dKJrtal youth information and cgmmunity seNices. We share this knowledge through training. con5uttancy, delivery and forning iong-temi partnerships for mulual benefil. Promo-cymru is a registered charity and soclal enteiprise: we invest our profits into making 8 drfference. Publlc Bengflt Statement In setting our objectives and planning our actThiilies. the Iruslees of Promo-cymru have given careful consideration to The Charity Commission's general guKlance on public benefft. Promfrcymru is committed to the development of young people and families in Wales through their partlcipalion in activities that enable young people lo voice their opinions and contribute lo an incluswe Wales In line with the United Nations Charter on the Rights of the Chikd and lo work with partners lo develop and delNer anli-poverty slralegies. Promo-cymru is also Gornmitted to delhiering a community and creative hub. faalstated at EVI as part of the regeneratlon of Ebbw Vale town and the surrounding area. This proierA will provide the lo￿1 community with a much needed focus for cu￿Ural, soclal and economic development in Ebbw Vak and the Heads of the Valty areas. SignFficant Actlvtties Young people's mental heatth drfficullies have been highlighted in various Wefsh Government documents. We are a150 very aware from tho contads we receive lo the Meic Helplrne from young people. Thts has led us lo forward key projects supportlng the development of seNices support1￿j young peopte wrth mental health difficu￿les. The Mind our Future Gwenl project, https.-IthM.promo.¢ymiulprojecVMind￿Ur-futUre-gwenv is a signrficant project supporting this area of our work. This project supports the co-dèsign and co-production of services. 11 directty involves and hires young people to work as Peer Tese8rchers, lo learn skllls and engage directty with other young people. EVI - Ebbw Vale Institute Project- worting lo develop the Ebbw Vale Institute as a cultural centre in Ebbw Vale. Following funding from UK Govemmenl Communty Regeneration Fund, EVI ieceNed £250,918 from Shared Prosperity Fund. This fund ha5 ensured employment of key staff in EVI and delivery of community based activitie5 such as The Food Pantry. Developments have surpassed expectation and been led by the invofvemenl of the cornmunilies surrounding EVI. Key evaluation reports from this project, together with the great work. community involvement and interest from UK, Wales and Blaenau Gwenl local and national Governments has led lo fvrther suc￿$$ful bids lo the UK Shared Prosperity Funds in Blaenau Gwenl. The financial SnpLrt is consolidallng the Ebbw va￿ Insliiute as a Flagship Communlty Anchor developing key projects such 89 the Community Food Pantry, Repair Shop, Community Arts Projects, a wealth of volunteering opportunities. We have also been able lo develop and maintain the material fabric of the building including work on minimising its environmental impact. Page 5

PROMO-CYMRU LTD TRUSTEES, REPORT The Shared Prospedty Fund is part of UK Govemmenfs Levelling Up agenda which is seen as the replacement to European Funds. Melc Helpline- the Wales wide advocacy based hewine for young pèople in Wal8s. Promo-cymru has been Instrumental in this development from its inception. Meic operates every day of the year, seven days a week from 8am lo 12 midnight. Melc also has an extensive onllne and social me(Jia presence which is increasingty used by Welsh Govemmenl as an information outlet for young people and professionaLs tn Wales. Meic has deveksped a slrong presence in the soGial and educational support landscape lo support young peo￿8 in Wales. In Augvsl 2022. PrOm￿CYmrV was awardeol a new 3 year contract to deliver the Meic Ser¥￿e going foThvard. ERYICA - European Youth Infomialion and Counselling Agency. Promwru continues a productnie relationship wlh ERYICA. Promo PTodvces ERYICA'S podcast. is part of ts training programme aNI has supported the development of the ERYICA Information Quality Mark for Nalbonal and Ioc81ty based inf0mlat￿n providers and lake5 part in a number of training events. Talth - we are keeping abieasl of this Welsh govemmenl grant initiatwe lo support Youth and Education establishments lo have me8ningful intsichanges and collaborations with others in Europe and beyond and have been successful with two applications whiGh will allow Promo-cymru lo be involved wilh ERYICA training pr￿jramMe$ and create a youth exchange between the tsvin cities of Cardiff and Nantes. Servicg Design Consultancy - Promo-cymru has developed expertise in the area of seTV1￿ DesignlAgile working. This way of working has developed over a number of year5 and foms part of the internal working of our organisalion, which wlll continue lo dev&lop and dissemlnale inlernalty. Volunteers Managament Board Promo-cymru's Management Board are all volunteers who gwe of their time and invaluable experience. Without their advlce and support Promo-cymru would nol have the organisalional Substan￿ lo delNer unique services. Achlevement and Performance Charltable Actlvltles Th9 SprouLco.uk Promo-cymru continues 10 5UPPOrt this proiecl lo provide infomalion lo young people in Cardrff and b8yond. EVI Ebbw Vale Institute Projoct Promo-cymru has, since the completion of the Community Asset Transfer in 2011, brought Ebbw Vale Institute back into use as a vibrant Gommunlty space offering cultural and SOCI￿ activlties for the Blaenau Gwenl area and beyond. As a community and arts activities venue, EVI facilittes include-_ A gallery exhibition space A fully equipped conference venue Community Café Rental spaces forthlrd and public sector organisations Communty Food Pantry Rèpair Café VolunleeTS Communty Film Club Community Luncheon Club Page 6

ROMO-CYMRU LTD TR STEES. REPORT EVI is currently used by a wide range of publie, third sector organisalion5 and commur¢ity groups and individu81s. EVI ha8 developed into a Cuttural and Community Hub for the communrties of Ebbw Vale and Blaenau Gwenl. Internal and Extemal Fa¢tors The most slgnifi¢anl intemal and external factors arising during the year y￿re as follows= Internal Promo-cymru continues lo develop its intsmal policies and procedures in fine with legislative and HR developments. We have been able to di￿¢1 increased 51affing resources to develop this work in order to have more developed core fun¢lion in order lo create stable foundations forgrThYlh. Promo-cymru has developed wfthin the spirit of a distributed ￿adership approach. a Senior Management Team to guide and C4Jnlrol the operation81 management of the organisatKJn and, with the Directors of Prom¢>Cymru, be part of the organisalion'$ strategic direction. This work will also activety seek input from a115taff, volunteers and ￿nIS of Promo-cymru. The development of Promo4Cymru's new headquarters building in Cardiff Bay has ensured that the building is energy efficlenl by installing new huh grade insulation. Promo-cymru has also taken some space within the Cardiff Unwersity Sbardspark Bullding which is a hub for Un￿e￿ty research, incubator space5. public sector and voluntary sector partners. Prome¢ymrLt has continued to embiace effective ¢￿mMUnication tools wrth young people in Wales and have endeavoured lo be the leading provider. We have embrac¢d a wide reaching dwjilal approach to our developments and are providing advice and support to the thiid and public sectors aGross Waks and beyond. Prom¢>CymTU has embraced Service Design methodolryies as a natural progression to ourwork and are gaining iecognllion for Ihls innovative work a￿055 Woks, UK and the European Youth Sedor. Prom0-Cymru'periodical￿ has staff observers and young clients attending board meetings, where appropriate. to allow for Ihelr direct inpul into dis¢u55ions. Clients are ful￿ invofved in Promo£ymru projects via our core cr&production and engagement methodology. Their involvement and feedback channel￿d into projecl delivery and into the Management Board. As a value driven organisation. we have made steps to make our values ¢karer and publish them on oui webs¢te and make them part of our recruitment pro¢ess lo ensure we let the public. clients and our stsff know what is important lo us. This work is on-going ar￿ has 8 group made up of board and staff membets lo review. External The work environment has changed in the post pandemic world. We have embraced hybrid working. Thrs has induded the development of well-b8ing and social events. We are working lo embrace the agile developments brought forward by the ￿e￿SSi1[e$ of faclng the pandemic and ensure we do nol slip back to unnecessary Pre-pandemic praclices. Promo-cymru also realised that il had a skills base able lo help many organisations adapt lo the posl pandemic worfd. We sel up a free sel of workshops ac￿SSed by the voluntary sector across Waks which sped up the'digilalisalion, of many organlsalions. Promo-cymru also developed its youth focused communications knowledge, especialty on social media, lo target young people no longer in schools, youth services and the social services they were previously able to acces5 face-lo-fac8. The Melc Inslagram account grew exponentialty. Thi8 targeted young people lo make sure they had someone lo contact in need for the 16 hours a day the helpline was open. We have also started successfvl communi￿lI0nS pilots uslng the Tik Tok piatfomi one piece going viral with 3.5 million vlews. Page 7

PROMO.CYMRU L TR TEES, REPORT Promo-cymru continues to explo￿ the use of Al arKI ts impact and use in the third sectors. The extemal environment continues lo be a challeng8. We continue lo monrtor policy developments in Wales and the UK and make changes accordingly- Prom¢>CyThru has led the field in digital ITansformation for a number of yea￿. Clearer branding, identity. communications and $eW-belief have increased our Profi￿ and confidence leading to new markets and cltenls-. Financlal Review The ITuslees receive management financial reports and review the financkAI position of pr(￿o-CyMr￿ on a regular basls 88 a key standing agenda item. The twstees have considered budgets and forecasts for the period to March 2024 and support the management team in the on-going financial development of the organisallon a$ a going concern. The management team work closely w¢lh the Chair of the Iwslees on a regutar basis outsK18 of board meetings. Ausler(£y has certainty impacted not onty on Prom&Cymru, bul abo across the third sector. Piomo£ymru continues lo iftnovale and forward think. Key Co￿rate strategies of heightening the profile of Promocymru, which haveled io the winning of a number of key awards and the development of inroads in new markets, are beginning to work. Unreslricled reserves after transfers incr88sed by £79,992 (group £85.520} during the year, compared wlh an Inere8se In the prevltrus year of £20,319 (group £26,538). Deprecralion charges on assets ¢)wned by Promovcymru Ltd, including the land and buildings of Ebbw Vale Ins1ftu￿ and 17 Wesl Bute Street. also impact on the financi81 actniilies reported. PiomTrCymru continues lo invest in ts staff and profye. Al the year end Promt>Cymru Ltd remains in a slrong financial position. with unrestrthd reserves of £514.015 {group £588.751} and lotsl net assets of £1.514.133 Igroup £1,588.869). The organisation also continues to maintain adequate working capital lo facilitate Ii s aciwiknes. Reserves Policy Purpos9 The purpose of the Reserves Policy of Promwmru is to ensure the stability of the projects. employment and ongoing operations of the organisalion. The Operating Reserve lie. unreslricled reserves) is rnlended to provide an inlemal source of funds for situations such as a sudden increase in expenses, one Ilme unbudgeled expenses. unanticipated loss in funding, or uninsured losses. The Reserves may also be used for one*lime, non-wurring expenses that will build long-lemi capacity, such as 51aff development. research and development, or Investment in infra5truclure. Operating Reserves are not intended lo replace a pemianenlloss of funds or elThnNiale an ongolng budget gap. 1115 the intention of Prorno-cymru for Operating Reserves to be used and replenished within a reasonabty short period of lime. The Operallng ReseNe5 Policy will be implemented in concert with the other govemance and financial policies of Promo-cymru and is intended lo support the goals and 5tralegie5 contained in these related policles and in strategi and operational plans. Definitlons and Goals The Operating Reserve Fund is defined as a des￿￿nated fund sel aside by action of the trustees. The minimum amount lo be designated as Operating Reserve will be establishèd in an amount sufficient lo maintain ongoing operations and programmes for a sel period of time. The Operating Reserve serves a dynamtc rote and will be rev￿Wed and adjusted in response lo irslemal and extemal changes. Page 8

ROMO¢YMRU LTD TRUSTEES, REPOR The largel minimum Operating Reserve Fund is equal to 6 months of average operating costs. The calculation of average monthly operating costs includes all recurring. predictable expenses such as salaries and benefits, loans. office. travel, prolecl. and ongoing professional services. Depreciation. in•kind, and other nO￿￿￿h expenses are not included in th& calculation. The calculation of average Month￿ expenses also excludes Some expenses. eg, one-time or unusual and caprtal purchases. The amount of the Operating ReSe￿e Fund target mintmum wll be cakulaled each year after approval ol- the annual budget, reported to the Iruslees and Finan￿ Sub Committee. and indEKled In the regular financral reports. Accounting for Reserves The Operating Reserve Fund wll be recorded in the fmarbcial records as unreslricted reserves. The Fund will be funded and available in cash Dr cash equwalenl funds. Funding of Reserves The Operating ReseNe Fund will be funded with surplus unrestricted operating funds. The trustee5 may from lime lo lime dir8cI that a spectfic source of revenue be sel askle for Operating Resetves. Use of Reservgs Use of the Operating Reserves requires three steps: 1. IdenlificatSon of approprie use of reserye funds The trustees and staff wlll identty the need for access lo reserve funds aml confimi that the use is ¢onsislenl with the purpose of the reserves as described in this Policy. This step requires anatysis of the reason for the shortfall, the availabllily of any other sources of funds before usiry reser¥es. and eva￿allon of the time period that the funds will be required and replenished. 2. Aulhcrrty to use opernting reserves Aulhorlty for use of Opeiating Reserves i8 delegated to the CEO In consullalion with the Chair of the ITU51ees. The use of Operating Reserves will be reported lo the Iruslees at their next 5chedukd meeting. accompanied by a descriptlon of the anatysis and delemilnalion of the use of funds and plans for replenishment lo restore the Operating Reserve Fund lo the largel minimum amount. The CEO must receNe prior approval from the trustees rf the Operating ReseNes will lake lon9er than 12 months to replenish. 3. Reporting and monitoring The CEO19 responsible for ensuring that the Operaling ReseTve Fund i8 maintained and used only as described in this Policy. Upon approval for the use of Operating Reserve funds, the CEO ￿11 mainlain iecords of the use of funds and plan for replenlshmenl. The CEO will provide regular reports to the Finance Sub Committee and board of trustees of progress to restore the Fund lo the largel minunum amount. Policy Review This policy will be reviewed every other year, al minimum. by the Finance Sub Committee, or sooner ff warranted by internal or external events or changes. Changes lo the Policy will be recommended by the Finance Sub Committee to the board of Iruslees. Funding Sources Promo-cymru has a diverse portfolio of funding. Promo-cwnru is funded from the receipt of grant income from numerous sourcès includlng the Welsh Gove¥nmenl, Cardiff County Council. UK Communty Renewal Fund, Welsh Government's Community Dlvision, Welsh Govemmenl Social ServKes Division and Paul Hamlyn. Page g

ROMO-CYM ULTD TR STEES, REP Plans for Future Periods Promowcymru seeks lo further develop rts charilable a￿lVrt￿. Promo-cymru will continue to use its experien￿ to develop its expertise across a number of areas. These are.. Helpline expertise, online and office infomalion lo include the promotion of c#tizen voices. We have. developed an integrated communications model lo better descnbe our offer. The development of further support to communittes, famdbes and people of all ages to 5UPPOrt both physical and 50C181 developments. The development of support and menloring services lo olher thiTd sedor organ￿atiOnS such as leadershlp and management development. finance management and other corporate issues. The support of organisations lo better uthise servi￿ DesYJn Melh¢xlologtes, IT and communications technology, such as social media practice and poliw. Further develowents have begun to utilise and support the use of Al in the third sector. The development of our central administrative building lo allow dispatate areas of Promo-cymru to be housed together and the wider involvemet)l of clients and other organisalions in the work of the organisalion is working well. We will continue to review betteT and more efficient use of the building and consider renting further spaces lo I￿e minded organisalions. Promo-cymru tonlinues lo explore woJ*ing ￿th young people on the d6velopmenl of Social and Environmental Economy projects and organisations. In a post pandemlc worfd, Promo•CymfU has taken a conscious decision to utilise rts wde ranging digital expertise to support the third sector during these drrricult limes. We have mobilised our 51aff and extensive knowledge. We have been working lo sustain this work and are now part of the NewK1 partnership made up of WCVA, Cwmpas and Promo-cymru lo develop this support. We have also been In discussion with The National Lottery for a number of years and were awarded in September 2022 a £5￿,000 grant lo further enhance Ihls work over th￿e years- projed 3rd Sector Dtgftal. In 2022 PrDmo-Cymru was successful with The National Lottery Mind Our Fulure bid lo help design better mental heahh services foryoung people in Blaenau Gwent. We deliverlhis project with MIND in Gwenl. The annual report was approved by the tnjslees of the charity on 29 October 2024 and signed on ts behalf by: M Morgan Trustee Page 10

PROMO-CYMRU LTD STATEMENT F TRUSTEES. RESP NSIBILMES The Iruslees (who are also the director5 of Prom¢>CymnJ Ltd for the purposes of wmpany law) are repDnsible for preparing the trustees, report and the financial slalemenls in accordance with the United Kingdom Accounting Standards {Uniled Kingdom Generalty Accepted Accounlirwj Practice), including FRS 102'The Financial Repctrting Standard applicable In the UK and R&publlc of Irelan￿. Company law requires the Iruslees lo prepare financial statements for each fina￿la1 year. Under company law the Iruslees must not approve the financial statements unless they are salisfted that they gNe a Itue and faiT view of the slate of affairs of the charitable company and of its ineoming resoUr￿S and app￿callon of resources, Including its ineome and ex￿ndit￿re, for that period. In preparing these financial statements, the Iruslees are lequired to select sultable accounting p0￿CleS and then appty them consislentty., observe the methods and principl8s in the Charitks SORP.. make judgements and estimates that are reasonable and prudenL Slate whether applicable accounting standards. compr¢sing FRS 102. have been followed, subject lo any malerf81 departure5 disclosed and explained in the financial statements., and prepare the financial slalements on the going concem basr6 unless it is inappropriate lo presume that the charitable company wll ¢onlÉnue In business. The Iruslees are responsible for keeping proFer accounting reeords that can disclose with reasonable accu¥aey al any lime the financlal position of the Charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsbi le for safeguaiding the assets of the charitable company and hence for taking reasonable sleps for the prevention and detection of fraud and other irwularilies. The Iruslees are responsible for the Maintenan￿ aF)d integrity of the corporate and financial information included on the charitable company's website. Legi%lalion goveming the weparalKJn and dissemination of financlal stslemenls may differ from leglslalion in olherjurisdictions. Approved by the trustees of the ¢harity on 29 October 2024 arxl signed on its behalf by." M Morgan Trustee Page11

PROMOQYMRU LTD INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PROMO£YMRU LTD Opinion We have audited the financial statements of PromTrCymru Ltd. the'chariiabte parent company and its subsKliary Ilhe 'group') for the year ended 31 March 2024. which comprise the Con501idated Statement of Financlal Activities, Company Slalemenl of Financial Aclivrties. Consolidated Balan￿ sh￿1. Company Balance Sheet, Consolkjaled Slalernenl of Cash Flows, Company Statement of Cash Hows and Notes lo the Financial Slalements. in¢luding a summary of significant accounting policies. The financial reporting framework that has been appl￿d in their . preparation is Uniied Kingdom AGcounling Standards. comprising Chartiies SORP- FRS102 The Financial Reporting Standard applicable in the UK and Republic of Irdand, and applicable law (United Kingdom Generalty Accepted Accoynling Praclicel. In our opinion the financial statements: give a Iiue and fairview of the slate ol the gTQUP'S and parent charitys affairs as al 31 March 2024 and of the group'5 incoming resources and appltcalion of re50urtss. ineluding its income and expenditure. for the year then ended: hav6 been properly Prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and have been prepared in accordance with the requiiements ol the Companies Act 2006. 8asis for opinion We condu¢led QUT audit in aGGordance with Intemational Standards on Auditing (UK) (ISAS (UKI) and applicable law. Our responsibilities unde¥ those standards are fvrther described in the Auditorfs ￿SponSibl1111es for the audit of the financial slalemenls section of our report. We are independent of the group in accordance with the ethi￿¥ Tequirements that are r&levanl lo our audit of the financial statements in the UK, including the FRC'S Ethical Slandar¢J, and we have fuif11Eed OUT olher ethical responsibilitEs in a¢¢ordance with these requirements. We believe Ihat the audit evidence we have obtained is suffluent and approprfale lo provide a basts for our Opin￿n. Conclusions relating to going concern In auditing the financial slalemenls, we have concluded that the trustees, use of the goiThJ conceTn basis of accounting in the preparation of the financial stslements is appropriate. Based on the work we have performed, we have not identified any material uncertainlies relating lo events or condkions that, individually or colkctivety, may cast swjnrficanl doubl on the charilvs ability lo continue as a going concem for a perTod of 01 least ￿e1ve months from when the original financial slalements were aulhorised for issue. OUT responsibilities and Ihe Tesponsibilities of the trustses respect to goiThJ concem are de5Gribed in the relevant sections of this report. Other information The Iru51ees are responsible for the other infofftiation. The other infomiath)n comprlses the infonnalion induded in the annual report, other than the financial statements and our 8uditorfs report Ihereon. Our opinion on the finanaal slalemenls does not cover the other infomialion and. except lo the extent otherwise ewicilly Staled in our report. we do not èxpress any form of assuran¢e ￿ndUs1On there¢)n. In connection with our audrt of the finanuèl slatemenls. our responsibli ty is to read the other infomallon and. in doing so, consider whether the other infomialion is materiajty inwnsistenl with the financial slalements OT our knowtedge obtained in the audit or othe￿ise appears lo be materially misstated. If y￿ identify suGh material Inconsistenc￿ or apparent m81erial misslalemenls. we are required to delerniine whether theie is a material mi551alemenl in the financial slalements or a material mtsslatemenl of the other inlomialion. 11, based on the work we have performed, we conclude that there 15 a material mi5$1alement of Ihis other infomialion. we are required lo report that fact. We have nothing to report in this regard. Page 12

PRO O¢YMRU LTD INDEPENDENT AUDITOR'S REP RTTOTH MEMBERS OF PROMO£YMR LTD Opinion on other matters prgscribed by the Companle5 Art 2006 In our opinlon, based on the work undertaken in the course of the audit.. the infomialion given in the Trustees, Report for the financial year for whkh the financial statements are propaied is conssslenl with thè financial 51atemenls.' and the Tru¥tees' Report has been prepared in accordance ￿th applicable legal requirements. Matters on which we are ftquired to roport by exceptlon In the light of our knowledge and Lrnderslanding ol the group and the parent charitable company and its environment obtained In the course of the audit, we have not Jentified material misslalements in the Trustees, Report. We have nothing lo report In respect of the foNowng matters wheie the Companies Act 21)06 requires u510 ￿port lo you NS. in our opinion.. adequate accounting records have not been kept by the parent charitable company, or relums adequate for our audit have not been receNed from blanches not visited by LFS" or th8 parent charitable compatys financial slalements are not in agreement wfth the accounting re¢ords and returns-. or certain disclosures of trustees temunerafion specffied by l•N are not made; or we have not recewed all the infomiatton and explanations we require for our audit. Responslbilities of trustees As explained more fully in the Statement of TnBtees' Responsbi ilitie5 (set out on page 121. the Iruslees a responsible for the preparation of the finat)cial slalemenls and for being satisfied Ihal they give a true and fair view, and for such intemal control as the trustees detemiine is necessary lo enab￿ the preparation of financial slalenienls that are freè from materlal misslaternenl, whether due lo fraud or error. In prepartng the financial stalernenls, the Iruslees are ￿ponS￿l le for assessing the charitvs ability lo continue as a going concern, disclosing, as applicabb, matters relating to going concern and using the going concern basi5 of accounting unless the l¥ustees either intend to Iv4uJ*e the charty or to coase operations, or have no realisliG allernalive but lo do so. Audltorf5 responsibllltles for the audit of the financial ststements Our objeclNes are lo oblaln reasonable assurance about whether the financial slatemenls as a whole are free from material mi8slatemenl, whether due to fraud or error, and lo issue an audrtofs report that includes our opinion. Reasonable 85suran￿ is a high ￿Ve[ of assurance, bul is not a guarantee that an audrt conducted in accordance with ISAS (UK} will a￿ayS delect a material misslalemenl when it ex￿ts. Misslalemenls ¢an arise from fraud or error and are conshgered material rf. individualty or in the aggregate, they could reason8bty be expected lo influence the econom￿ declsion5 of users taken on the basis of these financial slalements. The extent lo which our procedures are capable of detecting irregukrities. including fraud. is detailed below. As part of designing our audit. we delemined materiality and assessed the risks of malerfal misslalement in the financial slalements, including how fraud may occur by enquiring of management of its own ￿nsideratIon offraud. In particular, we looked al where management made subjectwe judgements, for example, in respgct of Significant accounting esllmales that involved making assumptions and considering future events Ihal are inherenlty uncertain. We also ¢onsKlered potential financial or other pressures, cpportunty and motNations for fraud. As part of this discussion we identified the inlemal controls eslablished lo mFtuate risks related to fraud or non-compliance with laws and regulations and how management monitor these processes. Appropriate procedu￿5 included the review and lestlng of manual joumals and key eslimales and judgements made by management. Page 13

PROMO-CYMRU LTD DEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF PROMO CYMRU LTD We gained an understanding of the legal and regulatory framework applicable lo the charity and the industry In which il operates. drawing on o¢Jr broad sector experieno, and considered the risk of acts by the charity that were contrary lo these law5 and regulations. induding fraud. We f¢cu5ed on laws and regulations that coukl give rise to a malertal mrsstalemenl in the flnancial statements, including, bul not limited lo the Charities Ad, CompanEs Ads, UK tax legislation and equivalent local laws and regulallDns. We made enquiries of management with regard5 to compliance with the above laws and Tegulations and corroborated any necessary evidence to ielevant information. for example, minutes of the Trustees. meetings and any other relevant ¢oriespondence. We completed samples of Iran58ction testing wth a focus on the Income and expendiluTe throughout the year to ensure that adTriilies were supported and in line wrth the ¢hariVs fu￿5 and practi￿. Any unusual findings were raised wth rnanagemenl for further inveslmJalion. Our lesls included agreeing the financial statements disc105ures to undertying supporting docurnenlation and enquiries with management. We did not identify any key audit matteTS relating lo iffegularilies, including fraud. As in all of our audits, we also addressed the risk of management override of irrtemal controls induding testing joumals and evaluation whether there was evidence of bias by management that represented a risk of material misslalemenl due lo fraud. Our audit procedures werè destgned lo iespond to risks of material mis51atement in the financial slatsmenls, recognising that the risk of not detecting a material misstslemenl due to fraud is higher than the risk of not delectlng one resulting from error, as fraud may involve deliberate cOn￿alment by, for example, forgery, misrepresentations or through ¢olluslon. There are inheierrt limitations wi the audit procedures wrformed arKt the further removed non-compliance wlh laws and iegulations is from the events and transaction5 refjecled in the financlal slalemenls, tho18ss likely we are lo become aware of IL Use of our report This report is made solety lo the charitable parent company's trustees, as a body. in accordance with Chapter 3 of Port 16 of the CompanSes AGt 2006. Our audit work has been undertaken so that we m*3ht stale lo the grovp's chanty Iruslees those matters we are required to slate lo them in an audilovs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume re5pon¥ibilty lo anyone other Ihan the charilabie parent company and ils trustee5 as a body. for our audil work, for this report. or for the opinion5 we have fomied. Robert Hugh ISenSor Slat For and on behalf of Robe ry Auditor) Hugh Limited, Slalulory ALrditor 15 Dan y Bryn Avenue Radyr Cardiff CF15 8DD Signed on 31 October 2024 Page 14

PROMO¢YMRU LTD STATEMENT OF CONSOL DATED FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 20 INCLUDING INCOME AND EXPEND￿uRE ACC UNT AND STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES Continulng opeTations total Dlscontlnued operatlons total 2024 Unrestricted Rgstrlcted funds funds Total 2024 Consolldated Notes 2024 INCOMEAND ENDOWMENTS FROM: Activities for generating funds Voluntary income Investment income Charitable activities Total income EXPENDITURE ON: Charitable activf(ies Total expenditure NET INCOMEIIEXPENDITUREI Gross transfers belween funds NET MOVEMENT IN FUNDS Reconciliation of funds.. Total funds brought fO￿ard TOTAL FUNDS CARRIED FORWARD 768,031 10,304 120.896 7,500 9C6.731 768,031 15,414 120.896 717,719 1,622,060 768,031 15,414 120,896 717,719 1,622,060 5.110 710.219 7￿,329 821.211 821,211 85.520 791,742 791,742 -76.413 1.612,953 1,612,953 9,107 1,612,953 1,612,953 9,107 85,520 -76.413 9,107 9,107 503.231 588,751 1,076,531 1,000.118 1.579.762 1,588,869 1,579,762 1.588,869 19 Continuing operations total 2023 Dis¢ontlnued operatlons total 2023 Unrestrlcted RestriGtod funds fund5 Total 2023 Consolidated Notgs INCOME AND ENDOWMENTS FROM: AGINI(ies for geneTaling fund5 Voluntary in¢ome Investment income Charitable activities Total Incomp EXPENDITURE ON: Ch3rilable activities Total expendlture NET INCOMEIIEXPENDITUREI Gross transfers between funds NET MOVEMENT IN FUNDS Reconclllation of funds: Total funds brought lotward TOTAL FUNDS C4RRIED FORWARD 808,888 1,719 92,897 7,20) 910.704 808,888 6,719 92,897 562,175 1.470,679 808,888 6,719 92,897 562,175 1,470,679 5.0 554.975 559.975 884.186 884,186 26,518 501.801 501,801 58,174 1385,987 1,385.987 84.692 1.385,987 1,385,987 84,692 26,518 58.174 84.692 84,692 476.713 503,231 1,018,357 1.076.531 1.495.070 1,579,762 1,495,070 1,579,762 All of the charitvs activities derive from contlnuing operatKins during the above hvo perit)ds. The funds breakdown for 2024 and 2023 i% Shts￿ in note 19. Page 15

PROMO-CYMRU LTD STATEMENT OF COMPANY FINANCIAL ACTivrriES FOR THE YEAR ENDED 31 MARCH 2 24 INCLUDIN INCOME AND EXPENDITURE ACCOUNT AND STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES Contlnulng operations total 2024 Dlsujntinued operatlons total 2024 Unrestrfcted Restricted funds funds Total 2024 Company Notss INCOME AND ENDOWMENTS FROM". Voluntary income Charitable 8cfNitles Investment income Total income EXPENDITURE ON: Charitablg activities Totsl expgndlture NET INCOMEIIEXPENDrruREI Gross transfers between funds NET MOVEMENT IN FUNDS ReGonclllatlon of funds: Total funds brought fo￿ard TOTAL FUNDS C4RRIED FORWARD 95,304 57,144 5,110 710.219 ICrt),414 767,363 9.406 877,183 ICL),414 767,363 9,406 877,183 161.854 715,329 81,862 81,862 79.992 791.742 791.742 -76,413 873.604 873,604 3,579 873,604 873,604 3,579 79.992 -76.413 3.579 3,579 434,023 514,015 1,076.531 I,OCM),118 1,510554 1,514,133 1,510.554 1,514,133 20 Continuing operations total 2023 D15contlnued operation5 total 2023 Unrestrtcted Restrlcted funds funds Total 2023 Company Notes INCOME AND ENDOWMENTS FROM: Voluntary income Charitable aclivilie5 Inveslm8nt Sncome Totsl Income EXPENDITURE ON: Charitable activities Total expgndlture NET INCONIEIIEXPENDITURE) Gross transfers be￿een funds NET MOVEMENT IN FUNDS Reconciliation of funds: Total fund5 brought fO￿ard TOTAL FUNDS CARRIED FORWARD 71,719 60.652 2,241 134,612 76,719 615.627 2.241 694.587 76,719 615,627 2.241 694,587 554,975 559,975 114.293 114,293 20,319 501,801 501,801 58.174 616,094 616,094 78,493 616,094 616,094 78,493 20,319 58,174 78.493 78.493 413.704 434,023 1.018.357 1,076,531 1,432,061 1.510.554 1,432,061 1,510,554 20 All of the charitls actlvities derive from conlinuing operaltons during the above two pericds. The funds breakdown for 2024 and 2023 Is shown rn note 19. Page 16

PROM -CYMRU LTD BALANCE SHEETS AT31M RCH 2024 Consolldated 2024 2023 Total Totsl funds funds Company 2024 Total funds 2023 Total funds Notes FIXED ASSETS T8ngible assets Inveslnienls 14 1,288.512 1.319.635 1.278,709 loo 1,278,809 1,309,667 loo 1,309,767 1.288,512 1.319,635 CURRENT ASs￿s Stocks Debtors Cash al bank and in hand 2,849 170,930 514,751 688,530 1,575 64,359 606,247 672,181 16 60,208 421,695 481,903 9,D55 463,095 472,150 REDITORS Amounts falling due wlhin one year NET CURRENT ASSETS 17 -203,265 485,265 -214,706 457,475 -63,321 418,582 -75,6SS 396,485 TOTAL ASSETS LESS CURRENT LIABILITIES 1,773.777 1,777,110 1.697,391 1,706,252 REDITORS AND PROVISIONS Amounts falling due after one year Provisions for liabilities 18 -183,258 -195,698 -1.650 -1,650 1,588,869 1.579,762 -183,258 -195,698 1,514,133 1,510,554 FUNDS Unrestricted funds Reslricl8d funds NET ASSETS 19 588.751 503,231 1.000,118 1.076,531 1,588,869 1.579.762 514,015 1,000,118 1,514,133 434,023 1,076,531 1,510,554 The financial statements on pages 1510 34 were approved by the trustees. and authori%ed for issue o 29 October 2024 and signed on their beh8K by M Morgan (Trusteel Page 17

OMO4YMRU LTD STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 Consolidated 2024 2023 Total Total funds funds Company 2024 Total funds 2023 Total fvnds Notes Cash flows from operatlng activities Net cash income 9.107 84.692 3,579 78,493 Adjustments to cash flows from non-cash items Depreciation Investment income 50,331 -9,406 50.032 53,611 -2,241 136.062 47,372 -9,406 41.545 50,150 -2,241 126,402 Working capltal adjustments Ilncrea5el/decrease in stocks Ilncreaselldecrease in debtors IDecreasel/lnerease in creditors IDecredSel/increase In deferred income IDecrea5el/lncrease in provisions Net cash flows from operating artlvitie5 -1.274 -106,571 -5,717 -7,163 255 172.896 16.843 29,774 400 356,230 16 17 17 18 -51,153 -13,783 154,884 51,178 -8,233 -70,693 -23,391 324,231 Cash flows from investlng artivities Interest recelvable and slmllar income Purchase of tangible fixed assets Net cash flows from investing activitles 9.406 -19,208 -9,802 2.241 -16,132 -13,891 9.406 -16,414 -7,008 2,241 -10,750 -8,509 14 Cash flows from financlng artivities Repayments of loans and borrowings Net cash flows from financing artivities -ii.ooi -ii,ooi -21,035 -21,035 -ii,ooi -ii,oai -21,035 -21,035 Net Idecreasellincrease in cash and cash equlvalents -91,496 321.304 41,400 294,687 Cash and cash equlvalents at l April Cash and cash equlvalents at 31 Marth 606,247 514,751 284.943 606,247 463,095 421,695 168,408 463.095 Page 18

PROMO.CYM ULTD NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS OR THEYE R ENDED 31 MARCH 2024 CHARITY STATUS The charlty is limited by guarantee. incorporated in England and Wales, and consequently does not have share capital. Each of the trustees 15 liable to contribute an amount not exceeding £1 towards the assets of the charity In the event of Ilquidation. The address of its reglstered office and principal place of business is.. 17 West Bute Street, Cardiff Bay CFIO SEP These financial statements were authorised for i55ue by the trustees on 29 October 2024. ACCOUNTING POLICIES Summary of slgnif5cant accounting policies and key accountlng estlmates The principal accounting policies applEd in the preparation of these financtal 5talemenls are sel out below. These policies have been consislentty applteil lo all the years presented. unless otherwise slated. Statement of compliance The financial slatemer¢ts have bèen prepared in accordance with Accounting and Reporting by Charf(ies'. Statement of Recommended Practice (applicable lo Chant￿S preparing their accounts in accordance wlh the Financial Reporknng Standard applicable in the UK and Republic of Ireland (FRS 1021} (issued October 20191- (Charities SORP (FRS 1021), the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) and the Companies Acl 2(￿. Basls of preparatlon Promo-cymru Ltd meets the definition of a publ￿ benefit enlty under FRS 102. Assets and liabilities are initlally recognised al historical cost or transaclion value unless otherwise slated in the relevant accounting policy notes. Golng concem The financial statements have been prepared on the going con￿rn basis. The trustees assess whether the use of going concem ts appropriale. ie. whether there are any malerf81 uncertainties ￿lated lo events or eondrfion5 that may cast signfficanl doubl on the ability of the charity lo onlinue as a going concem. The Irustees make this assessment in resFect of a period of one year from the date of approval of the financial statements. Group accounts and Investment in subsldiary The a￿Unts have been consolidated lo include the results of the charitys subsidiary. No income and expendrture account of the Charity has been presented as pemiitted by the Companies Act 2006 and paragraph 423 of the SORP. The investment in the sub5Ndiary is slated at cost less provision lor any impalmenl. A subsidiary Is an entity controlled by the charity- Control 15 achieved where the charity has the power to govern the financial and eperaling polictes of an entity so as to obtain benefts from ts aclivilies. Inlercompany transactions. balances and unreali8ed gain5 on transactions beiween the charity and its subsidiary. which are related parties, are efiminaled in full. Income and endowments All income recognised once the tharity has enlitlemenl to the income, ti is probable that the income will be received and the amount of the inGome recewabte can be measured reliabty. Page 19

OMO.CYMR LTD OTES TO THE CONSOLIDATED FINANCIAL STATEMENT FOR THE R ENDED 31 MARCH 2024 Donattons and legacies Donations are recognised when the charity has been notrFied in writing of both the amount and seluemenl date. In the event that a donation subjecl lo conditions that require a kvel of perfonnan¢e by the charity before the chartty is entitled lo the funds, the income is deferred and not recognised unlil either those conditions are ful￿ mel. or the fU￿lIment of those conditions is wholty within the control of the chariy and il 15 probable that these conditions will be fU￿illed in the reporting period. Deferred income Dèferred income represents amounts recerved for future peric¥Js and is released to illGoming resources In the period for which it has been received. Such income is onty deferred when.. The donor specÉf*s that the grant or donation must onty be used in fthure accounting perfods.. OT The donor has imposed ￿nditIOnS which mLtsl be met before the charty has unconditional enlillemenl. Expenditure All expenditure is recognised once there 15 a legal or constructive obl¥Jation to that expenditure, il is probable seltlemenl 5s required and the amount can be measured reliab￿. All costs are allocated lo the applicable expenditure heading that aggregate similar costs to thal category. Where costs cannot be directty allributed lo particular headings they have been allocated on a basis consistent with the use of resources, with ￿ntral stsff Costs allocated on the basis of lime spent, and deprecsalion Charges allocated on the portion of the asset's use. OlheT SUPPOrt costs are albcaled based on the spread of staff costs. Charltsble activitles Charitable expenditure comprw those costs incuried by the charity in the delivery of 115 actwttv&s and services foT its beneficiarÈes. 11 includes both costs that &in be allocated directty to such actsvities and those ￿$1$ of an indirect nature nec¢ssary10 5UPPOrt them. Support Costs Support costs include central funclions and have been allocated lo adwity cost categories on a basis consislenl with the use of resourtss, for example. aNocaling property costs by floor areas. or per capila, staff costs by the time spent and other costs by their usage. Governance costs These include the costs attributable lo the chaTty'$ compliance with conslitubonal and statutory requirements, inGluding audit. strategic managemenl and trustees, meetings and re￿￿b￿[Sed expense5. Taxation The charity is consKlered lo pass the tes15 sel out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation lax purposes. Accordingly, the charty is polenlialty exempl from laxalron in ￿sPeCt of income or caprtal gains received within catègor(es covered by Chapter 3 Part 11 of the Corfv)ralK)n Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Ad 1992, to the extent that such In￿Me or gain5 are appl￿d exdusivety lo charitable purposes. Tangible fixed assets Individual fLxed assets costing £150.CKI or more are inilialty recorded al cost. Dopreclation and amortisation Depreciation provided on tangible frxed assets so as to write off the cost orvalualion, less any estimated residual value. overtheir expeded useful economic ItFe as follcjws: Freehold propety Fixtures, fittings and equipment Comptrter equipment 2% on ￿51 10% to 25% on reducing balance 33 1rJ% on reducing balance Page 20

PROMO-CYMRU LTD NOTES TO THE CONS FORT E YEAR ENDED LIDATED FINANCIAL STATEMENTS 1 MARCH 2024 Flxed asset investments Investments In associates ale accounted for using the equlty melhTrJ. It)veslmenls in associates are Inilialty recognised al the transaction prtce {includlng transaction costs) and are subsequenlty adjusted lo refflect the Charities share of the profil or loss and other coMp￿hen$1ve income of the associate. GoodwTII arising on the acquisition of asso¢iales is a¢counled for in accordance with the polw sel out abc*ve. Any unamortised balance of gogdwill is included in th& carrying value of the investsnent tsi associates. Trade debtors Trade debtors a￿ amounts due from customers for merchandise sokt or swvlces perfomied in the oidlnary course of business. Trade debtors are ￿cogniSed initiaty at the transaction price. They are subsequentty measured al amortised cost using the effectNe Inte￿$1 method, ￿sS pmvision for impairmenL A provision for the impaimient of Iradg d6bl¢rs is established when there ￿ obiectwe evrdence that the charÉiy will not be able lo collect all amounts dLFe according lo the original terms of the receivabies. stocks Sto¢ks are valued al the l¢)wpr of cost and net realisabk value. after maklng due allowance for obsolete and slow moving items. Cash and cash equivalents Cash and ￿sh equivalents comprise eash on hand and call deposits. and other short-lerm highly Ilquid investmènts Ihat are readity convertible to a known amount of cash and are subject lo an insignrficanl risk of change in value. Trade creditors Trade creditors are obligations lo pay for gor)ds or services that have been a￿uired in the ordinary course of business from suppliers. Accounts payable a￿ classified as current liabilities if the charity does not have an uncondrtional right. al the end of the reporting period. to defer settlement of the uedilor for al least Iwefve months after the reporting dale. If there is an UnCond￿0naI right to defer settlement for at least fyvelve months after the reporting dale, they are presented as nonwcurrenl liabilities. Trade creditors are recognised initialty at the transaction pr&ce and subs￿uenlty measured al amortlsed Gosl using the effective Interest method. where applicable. Borrowlngs Interesl-bearing borrowings are initialty recorded at fairvalue, nel of transaCt￿n costs. Inleresl-bearing borrowngs are subsequently ￿rried at amorti8ed cost. with the difference beiween the proceeds, nel of transaction costs, and the amount due on iedemplion being recognised as a charge to the Statement of Financial Adivities over the period of the re￿vant borrowing. Interest expense Is recognlsed on the basis of the effectNe interest method and fs included in inleTe51 payable and similar charges. Bcirrwngs are dasslfied as current ￿abIlItIeS unless the charity has an unwnditional right to defer settlement of the liabllhy for al ieast twefve months after the reporting d8te. Fund structure Unrestricted income funds are general funds that are available for use at the fruslee5' discretion in furtherance of the obleclwes of the charity. Restricted income funds are those donated for use in a partlcular area or for specific purposes. the use of whi¢h is reslricled to that area or purpose. Page 21

OMO-CYMRU LTD NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS OR THE YE R ENDED MARCH 2024 Financial instruments Classlllcation Flnancial asse15 and financial liabilities are recognised when the charity becomes a paty lo the contractual provisions of the inslrumenl. Flnancial liabllities and equty inslrumenls are classtfEed aceoTding to ihe substance of the conlraclual arrangements entered into. An equty instrument is any contract that evlences a residual interest in the assets of the charity after deduding all of its h.abilit￿$. Recognilion andmeasurement All financial assets and liabilities are initiaNy measured al transaction price {induding transaction costs). except for those financial assets clasS￿le￿ as at fair value through profil or loss. which are initially measured at fail value {which is nOTmalty the transaction price excluding transaction ￿$1S>, unless the arrangemont conslilules a financing tsansacllon. If an arrangement conslttutes a financing transaction, the financial asset or financlal liability is measured at the present value of the future payments discounted al a market rale of interest for a similar debt inslrumenl. Financial assets and liabilli ies ale only offset in the slalemenl of financial posf(ion when, and only when there exists a legalty enforceable right to set off the recogn15ed amounts and the charity intends either lo sellle on a net basls. or lo fealise the asset and settle the liabilty simultaneously. Financial assets are dere¢ggnised when and onty when al the contractual rtghts lo the cash flows from the financial asset expire or are settled. bl the charity transfers lo another paty substantially all of the risks and rewards of ownershlp of the financial asset, or cl the charity. despTte having felained some, bul not all, signtficanl risks and rewards of ownership. has transferred ¢onlrol of the asset to another party. FinanGial liabilities are derecognised onty when the obligatJn specified in the contract is discharged, cancelled or expire5. Debt instmments Debl instruments which meet the f￿h)WIng conditions are subsequenty measured al amortised cost using the effe￿Ne Inleiesl method. a) The contractual relum lo the holder 151) a fixed amount., li)i a positThie fLxed rate or a positive variable rate- or liiil a combination of a positive or a negative f￿ed rale and a posrtNe variable rate. bl The contract may provide for repayments of the principal or the return to the holder Ibul not both) lo be linked to a single relevant observable index of general pri￿ inJalion of the currency in which the debt Instrument is denominatsd, provhjed such links are not leveraged. ¢} The contract may provide for a delemiinabje variation of the return to the holder durlng the lrfe of the Inslrumenl, provlded that li} the new rale Satisf￿ condf(ion la} and the variation is not contingent on future events olhor than 11} a change of a contractual variable rate. (2} to protect the holder against credit delerioralion of the issuer {31 changes in levies applied by a central bank or arising from charues in relevant taxation or law., or (li) the new Tale is a market rale of Inte￿St and salisfies condition (a). d} There is no contractual provislon Ihal coukl. by ts tern￿. re5uW in the holder losing the principal amount or any Inte￿$t attributable to the Current period or PriOT periods. e) Conlraetual provislons that pemiit the issuer lo prepay a debt inslrument tsr pemiil the holdei lo pul it back lo the issuer before maturity are not contingent on future events. other than lo protect the holder against the credit deleriorallon of the Issuer or a change in control of the tssuer. or to prolert the holder or issuer against changes in levles applied by a central bank or arising from charYJes in re￿vant taxation or law. Page 22

PR MO¢YMRU LTD NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS THE YEAR E DED 31 MARCH 024 Contradual provisions may pemiit the extension of the lemi of the debt instrument, provided that the return lo the holder and any other contractual provisK)ns applicab￿ during the exlended terni sallsfy the conditions of paragraphs lal lo Icl. Debt instruments that are Classrf￿d as paYa￿e or recewable wthin one year on inrtlal recognition and whlch meet the above conditions are measured at the undiscounled amount of the cash or other consider8llon expected lo be pard or ftceived. net of impaimienl. W¢th the excepb'on of some hedging instruments, other debt instruments not meeting these conditions are measured at fair value through profft and loss. Commrtmenls to make and receive loans meeting the ￿nditIOnS mentioned above are measured al cost {which may be nil) Jess impairynenl. ACTIVITIES FOR GENERATING FUNDS Consolidated 2023 20Z4 Projects, consultancy. workshops, events and helpline fees 768,031 808,888 VOLUNTARY INCOME Con¥olldated 2023 2024 Donations 15,414 6.719 INVESTMENT INCOME Consolidated 2023 2024 Rènls re¢etved Interest received 110,437 10,459 120.896 90,571 2,326 92,897 INCOME FROM CHARtTABLE ACTWITIES Unrestricted fund5 Gerieral Restricted fund5 Consolidatsd 2023 2024 NEWID grant UK Community Renewal Fund Blaenau Gwenl CBC Food Distribut￿n grant Wales Council for Voluntary Action National Academy for Educational Leadetship - Associate grant Innovation grant Taf(h Learning grant National Lottery- Mind our Future Gwenl grant National Lottery- Third Sector Digital Fund Youth Access grant Social Business Growth Fund 2 Strategic Voluntary Youth Work Organisations Share Prosperity Fund- People and Skills Share Prosperty Fund- Communty and Place Tai Calon grant GAVO grant National Grid- Communty Fund Matters Other projeGI grants Fees and rental Income 5.613 5,613 100,ODO 216,675 7,950 18,704 6,000 6.000 10,000 5.000 11,936 192,385 162.365 15.542 10,000 5,000 11,936 192,385 162,365 15,542 10,000 7,605 95,728 72,182 18.932 6,674 35,OLIO 209,527 41,391 35,000 209.527 41,391 5,000 1,000. 9,460 1,000 525 7.200 562.175 7,500 7,500 7,500 717,719 710.219 Page 23

PROMO¢YMRU LTD NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT OR THE YEAR ENDED 31 MARCH 2024 EXPENDITURE ON CHARITABLE ACTIVITIES Unrestrlcted Restricted funds funds Con501idated 2023 2024 Subsidiary company Staff ￿$1S Project costs Office costs Repairs and renewals Insurance Premises costs Loan interest Depreciation 734,109 734.109 533,271 158,335 12,106 29,719 17,517 57,313 13,171 47.372 1,602,913 765,143 360.501 98,691 14,438 33,958 15,556 24,200 13,700 50,150 1,376,337 533.271 141.742 2.938 27.870 16583 35,649 16.593 9,168 1.849 934 21.664 13,171 13,683 811.171 33,689 791,742 Activity undertaken direGtIy Actlvlty support costs Consolidatgd 2023 2024 Subsidiary company Staff costs Prolecl costs Officè costs Repalrs and renewals Insurance Premises costs Loan interest Depreciation 734,109 478,669 158,335 734.109 533,271 158,335 12,106 29,719 17,517 57,313 13,171 47,372 1,602,913 765,988 359,656 98,691 14.438 33,958 15,556 24,200 13,700 50,150 1,376,337 54.602 12,106 29.719 17.517 57,313 13.171 47.372 1,448,204 154,709 In addition to the expendrture analysed abtsve. there are also govemance costs of £10,04012023- £9,650) which relate directty to charitable 8CtMties. See note 8 for further details. ANALYSIS OF GOVERNANCE AND SUPPORT COSTS SUPPORT COSTS Totals 2024 Totals 2023 Flnance Admin Premises Insurance Staff costs Subsidiary 13.171 12.106 57,313 17,517 54,602 154,709 13.700 14.438 24,200 15,556 68,739 The support costs cover the promotion of youth. adutt and famity development work. GOVERNANCE COSTS Consolidated 2023 2024 Audilovs remuneration 10.040 9,650 Page 24

PROMO.CYMR LTD NOTES TO THE CONSOLIDATED FINANCIAL STATEMENT FORT E YEAR ENDED 31 MARCH 2024 GOVERNMENT AND OTHER FUNDED GRA￿5 The follovlng government and other funded grants were re¢eTrRd during the year. YOUTH ACCESS £15,542 Promo-cymru is working with Youlh Access as part of a national proiecl fund8d by the National Lottery UK. We ale viorking with young people and partners lo help ensure Ihal youth Vol￿ is heard in the design process of mental health and wellbeing seNiee5. Cynefin £5,000 Promo-cymru recelved £5.000 as a grnnt towards development of educational ￿SOurCeS within the Welsh N8w Curriculum. Tal Calon £5.000 PrOm￿CYmnj receNed £5,000 on behalf of the Eblyw Vale Institution to support the Blaenau Gwent Food Partnership lo deliver healthy eating workshops. Natlonal Grid £9,460 Promo-cymru recelved £9,460 to employ an adwce and guidance Worker to support individuals and families experiencin9 drfficulties in paying their vlility bills and providing them with links lo a range of support services. GAVO £1.orH) Promtrcymru receNed £1,(M)O on behalf of the Eb]Av Vale Institute project towards energy costs. Strategic Voluntary Youth Work Organlsatlons ISVYWOI £35,01)) Prom￿CYmrU recewed £35.000 as a core contrtblrtion lo provKle a stralegic inpul towards the development of youth information services across Wales. BGCBC £6,000 Promo-cymru recenied £6,000 to resour￿ the food pantry at Ebbw Vale Inslitule. Shared Prosperlty Fund £250,918 Promo-cymru received £250.918 from UK Govemment via BGC under the Shared Prosperity Fund lo support core costs and deliver 2 communty based programmes. Ngwld £5,613 Promo-cymru r￿1Ved £5,613 from WCVA to support marketing and actNities at the Gofod3 event. Taith £11.501 Promo-cymru received £11,501 towards organising a Mult￿Urtura[ arts yotrth exchange wilh Nantes. Talth £435 Promo-cymru re￿Ne￿ £435 to produce a report on youth infomiation across Europe. Natlonal Academy for Educational Leadershlp Grant INAELI £10.000 Promo-cymru received a grant lo enable time invotvemenl by Marco Gil Cervantes in NAEL leaming activtties based upon the new cvn¢culum. Mind our Future Gwent IMOFG) £192,385 Promowcymru was awarded £999,888 from The National Lottery Community Funded projed to deS￿n new ways to prevent mental health challenges from developing or worsening a¢￿$ Gwenl and ensure that young peop get Ihe right support al the rKJht lime, wherever they turn for help. We will be delivering thls project over 5 years In partnership with Newport Mind. Our other project partners abo include local Minds and youth services in Gwenl. Page 25

PROMO.CYMRU LTD NOTES TO THE CONSOLIDATED FINANCIAL STATEMETrirs FOR THE YEAR E D 31 MARCH 2024 Third Sertor Dlgitsl Fund £162,365 Promo£ymru has toen awarded £5￿,0cl) from The National Lottery Communty Fund lo support the Welsh third sedor with digital. We will be supporting third sector organi5alions lo tackle challenges relating to a digital way of working, develop knowledge and ¢onfKlence in their digital skills and share good practice. Th1$ 3 year project wll be delivered In partnership with WCVA. The amount OT grants recognised in.the financial s'lalement was £71U,21912023: £554.975)'"" io NET INCOMING (OUTGOING) RESOURCES Nel resources are Staled afier ch3rgiW(crediling).' Consolldated 2023 2024 Audii fees Depreciation - owned assets 10.040 50.331 9,e50 53,611 li TRUSTEES, REMUNERATION AND BENEFITS There were no Iruslee5' remunerali¢)n or other benefts for the year ended 31 March 2024 nor for the year ended 31 Msreh 2023. Trustees. Expenses No expenses We￿ paid lo Injstees forlhe year ended 31 Marth 2024 (2023.. £NILI. 12 TAXATION No laxallon Is payable by the charity for the year as r( ts abFe lo make use of the tax exemptions on income and capital gains avallablè lo chaTities. The taxablè profil in the subsidiary was £nil {2023-. £5,590). 13 GROUP STAFF COSTS 2024 2023 Wages, salarles and pensions 1,128,595 985,013 The average number of persons employed by the group and Included In the above flgures durlng the vear was 4012023: 291. Page 26

PROMO-CYMR LTD NOTE FOR TO THE CONSOLIDATE FINANCIAL STATEMENTS HE YEAR ENDED 31 RCH 2024 14 TANGIBLE FIXED ASSETS a) Consolidatsd fixed assets Freehold Furn. & equlp. property Totals COST At 1 April 2023 Additions 1,516.945 524,807 19,208 2,041,752 19,208 Al 31 March 2024 1,516,945 544,015 2,060,960 DEPRECIATION Al 1 April 2023 Charge for year Eliminated on d￿pOsalS Al 31 March 2024 250,162 30,340 471.955 19,991 722,117 50,331 280,502 491,946 772,448 NET BOOK VALUE At 31 MaTch 2024 Al 1 Aprll 2023 1,236,443 1,266.783 52,069 52.852 1,288,512 1,319,635 The cost brought fo¥ward al 1 April 2016 of freehokl property includes a valuation of £175.000 in respect of the freehold interest in The Ebbw va￿ Inslilule transferred lo the charity for nil cons¢deration. The remainder of the balance brought forward of freehold property ￿presents buiktirKJ improvements that have been undertaken by the ¢harity during subsequent years together with the addit￿n of. and wnprovemenls to. the freehold property al 17 West Bule Street. Cardiff. b) Company flxèd assets Freghold land and building5 FIXtu￿￿. ffttlngs & equlp. Total COST Al 1 April 2023 Additions Dtsposals At 31 March 2024 1.516,945 425,390 16,414 1,942,335 16,414 1.516,945 441,804 1,958,749 DEPRECIATION Al 1 April 2023 Charge for year Eliminated on disposals Al 31 M?￿h 2024 250,162 30,340 382,506 17.032 632,668 47,372 280.502 399,538 680,040 NET BOOK VALUE At 31 March 2024 Al 1 April 2023 1.236,443 1,266.783 42,266 42,884 1.278,709 1,309,667 Page 27

PROMO-CYM ULTD NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR E DED 31 MARCH 2024 15 FIXED ASSET INVESTMENTS Shares in group company NET BOOK VALUE AI 31 March 2024 loo At 31 March 2023 loo Thère were no investment assets oulsije the UK The GompanYs investments at the balance sheet dale in the share capit81 of companw Include the following: Promo£ymru Trading Llmlted Nature of business- provid￿)g Infomiation. advice and advocacy for young peopl& in Wales. Class of share: £1 ordinary holding loo% 2024 2023 Aggregate reseNes Profiulloss) for the year 74,736. 5,528 69,208 6,199 The re$uhs for the Charitys substdiary 8131 March 2024 and 31 March 2023 were as follows. 2024 2023 Tumover Direct e0515 Gross prorrt Other income 1,376,957 -1,087,305 289,652 36,834 326,486 -320,958 5,528 1,246,299 -998,123 248,176 17,439 265,615 -259,416 6,199 Other costs ProfiVI105sI for the year Page 28

PROMO-CYMRU LTD NOTES TO THE CONSOLIDATED FINANCIAL ST THE YEAR ENDED 31 MARC 2024 TEMEfrUS 16 DEBTORS: AMOUNTS FALLING DUE MTHIN ONE YEAR Consolidated 2023 2024 Trade debtors Prepayments and accrued income Other debtors 109,197 61,733 31,359 11,987 21,013 64,359 170,930 Company 2024 2023 Trade debtors Amounts owed by group undertakings Prepaymen15 and accrued income 360 59,848 60,208 9,055 9,055 17 CREDITORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR Consolidated 2023 2024 Trade c￿dItorS Other loans Taxation and social security VAT payable Accruals and deferred income Other ¢redf(ors 31,016 12,440 67,477 1.929 89,206 1,197 203,265 21,Q104 ii,ooi 75,524 2,906 97,301 6,970 214,706 Company 2024 2023 Trade creditors Loans Amoun15 owed lo group undertaklngs VAT payable Accruals and deferred income Other creditors 17.146 12,440 23,907 1.929 6.900 999 63,321 15,427 ii,ooi 40,193 2,906 5,137 I,ooi 75,665 Creditors due within one year indudes the following liabilities. on which security has b*n giverk by the charity.. 2024 2023 Wales Counul for Voluntary Action 9.436 8,748 Freehold propety at 17 Wesl Bute StreeL Cardrff CF10 SEP Borrowings l Loan from Wales Councll for Voluntary Actlon The loan has a carrying amount of £182,932 {2023- £191.680) and is denominated in Sterling with 8 nominal interest rale of 7%. The final inslalmenl i% due in October 2036. It is repayable al £1.678.08 per month for 20 years from 3 January 2017, incfeased to £1.826.64 allsing from a further drawdown of £55,000. Security held on the fieehold propety al 17 Wesl Bute Street, Cardiff CF10 SEP. Page 29

PROMO¢YMRU LTD NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS OR THE YEAR E DED 31 MARCH 2024 The Gharity undertake5 Wfth Wabs Council for Voluntary Actlon. withoul PriOT notfficalion or appioval, the following. 1. Not lo make any change in the project proposal. 2. Not lo incorporate any company as its subsidiary. 3. Not lo amend or repla￿ its Memorandum and Articles oIAssociation In any way which could materialty and adversely affect the interests of the tender under the financing agreement. b ) Loan from the Social Business Growth Fund The loan has a calrying amount of £12.76612023- £15.0191 and is denominated in Sterling with an interest rate of 0%. The final inslalment is due in June 2028. 11 is repayable at £250.31 per month for 5 years from June 2023. The charity undertakes with WCVA the fON0￿￿ng. 1. To use the financial support solety to manage and implement the project in accordance with the delai described in the application. 2. To achleve the tsrgets and job target set out. 3. To obtaln written consent before Thplemenling any change lo the project. Deferred Income A¢cruals and deferred income inclLKlès deferred income relaliru lo grants recehed in advanco of the period to which they relate.. Consolidated 2023 2024 At 31 March 2023 Amount released lo incoming resour Amount deferred in the year Al 31 March 2024 84.469 -79,177 72,014 77,306 54,694 40,510 70,285 84,469 18 CREDITORS AND PROVISIONS.. AMouKfs FALLING DUE AFTER MORE THAN ONE YEARIPROVISIONS FOR LIABILITIES Consolldated 2023 2024 Loans Defeired lax 183,258 1,650 195,698 1,650 Creditors. amounts falling due after more than one year includes the foll0v￿n9 liabilities. on which securtty has been given by the charty on the freehobj property al 17 West Bule Street. Cardiff CFIO SEP. 2024 2023 Loan from Wales Council for VoluntaryAction 173,496 182,932 Included in the credtt015 are Ihe foll¢)wirwJ amounts due after more than five years.. 2024 2023 After more than fNe years by inslaknents 128,545 141,005 Borrowlngs dug after flve years £128,545 (2023- £141.0051 repayable at £1.826.64 per month induding interest 817Y.. fixed, will be repa¢d in October 2036. Page 30

PROMO-CYMRU LTD NOTE FORT TO THE CONSOLIDATED FIN E YEAR ENDED 31 MARCH 2 NCIAL STATEMENTS 24 19 MOVEMENT IN FUNDS Incoming Resources resourcgs expended At 1.4.23 Transfers At 31.3.24 Unrostricted funds General fund 503,231 503.231 906,731 906,731 -821,211 -821,211 588,751 588,751 Restrictsd funds Heads of the Valleys Programme Blaenau Gwenl Youth Service Capttal and Revenue giant Big Lottery Communty Asset Trfr Blaenau Gwenl Communty Economic Development grant Asset Transfer Blaenau Gwent CBC Food Distribution grant Arts forAII grant Tai Calon grant Valleys Envlronmenl grant Gavo Cash4u grant WAG Landfill Disposal Scheme Youth Access grant EVI CFAP grant COVKI Support grant Social Business Growth Fund 2 NEWID grant UK Communty Renewal Fund Wales Council for Voluntary Action National Academy for Educational Leadership grant- Associate grant Innovation grant Tarth Learning giant Asda grant Naliorial Lottery- Mind our Future Gwenl grant Third Sector Digital Fund Carol Powell Donation Fund Slralegi¢ Vol. Youth Work Org. Share Prosperity Fund- People and Skills Community and Place National Grid- Community Matters Fund 146,055 142,015 19,328 335,302 -507 -8.774 18,821 326,528 13,898 137,375 -352 -3,500 13,546 133,875 1,780 4.306 6,0 -7,780 -99 -5.OOL) -IOD -1,000 -369 -15,542 -7,852 -1.341 -2.169 -100,835 -2,986 -18,704 4,207 5.000 4,350 4,250 1,0 16,954 16,585 15.542 215.697 4,023 6,506 loo.000 8,958 18.704 207,845 2,682 4,337 4,778 5,972 5,613 3,636 10,000 S,(K)O 11,936 -10,000 -5.000 -5,450 3,636 6.492 525 12,978 525 18,817 12,750 1.075 192.385 162,365 5.110 35.000 -169,550 -130,091 4,293 -35,(K>O 41,652 45,024 1,892 209,527 41,391 -203,566 -38.382 5,961 3,009 9,460 715,329 -9,460 -791.742 1,076,531 1,000,118 TOTAL FUNDS 1,579,762 1,622.060 -1,612,953 1,588,869 The general fund balance at 31 March 2024 indudes £74.836 of funds retained withln the non-charitable subsidiary12023-. £69.308). The incoming resources include £879.521 (2023.. £899,544} of income recetved by the non charitable subsKtiary. The Te50urces expended include £1,273.61812023'. £1.134.087} of costs expended by the non-charilable subsidiary. These figures exclude inter-company transactions. The nonwcharitable subsidiary paid £8s,0￿[2023.' £70,000) lo Promo-cymru Ltd by way of gift aid. The nel surplus for the year a¢h￿Ved by the nowharitable subsldiary was £5.52812023'. £6,199). Page 31

PROMO£YMRU LTD NOTES TO THE C FOR THE YEAR E OLIDATED FINANCIAL STATEMENTS DED 31 MARCH 2024 MOVEMENT IN FUNDS Incoming Resources resources expended At 1.4.2Z Transfers At31.3.23 Unrostricted funds General fund 476.713 476.713 910,704 910,704 -884,186 -884,186 503,231 503,231 Restricted funds Heads of the Valleys Programme Blaenau Gwent Youth Service Capital and Revenue grant Big Lottery Communty Asset Transfer Blaenau Gwenl Community Economic Development grant Blaenau Gwenl Community Asset Transfer Blaenau Gwent CBC Food Distribution grant Arts for All grant Tai Calon grant Valkys Environment grant Police and Crime Commissioners Partnership Gavo Cash4u grant SocSal Business Growth Fund 1 WAG Landfill Disposal Scheme YoLrth Access grant EVI CFAP grant Covld Support grant Social Business Growth Fund 2 NEWID grant UK Communtty Renewal Fund Wales Council for Voluntsry Adion National Academy for Educational Leadership grant Tarth Leaming grant A5da grant National Lottery- Mind our Future Gwenl grant National Lottery- Thlrd Sedor Digital Fund Carol Powell Donation Fund 150.380 4,325 146,055 19.835 -507 19,328 344.311 -9,009 335.302 14,597 -699 13,898 140.875 -3,500 137,375 7,950 -6,170 -99 -145 -100 1,780 4,306 4,405 145 4,450 4,350 164 115 81 -164 -115 -81 -369 -18,932 -9,642 -2.011 -9,846 -80,625 -207,717 17.323 16,954 18.932 225.339 6.034 9.678 80,625 215,697 4,023 6,506 loo,000 8,958 18,704 6.674 loo,000 216,675 18,704 lo,￿0 7.605 525 -6,364 -1.113 3,636 6,492 525 95.728 -76.911 18,817 72.182 5,000 559.975 -59,432 -3,925 -501,801 12,750 1,075 I,Q76,531 1,018.357 TOTAL FUNDS 1.495,070 1,470,679 -1.385.987 1,579,762 The general fund balan￿ at 31 March 2023 includes £69.308 of fvnds retained wfthin the non-charilable subsKliary12022.. £63,109). The incoming resources include £899.544 {2022: £913.2481 of income re￿Ned by the non charitable subsidiary. The resources expended include £1,134,08712022= £936.474) of costs exFended by the non-charitable subsidiary. These figures exclude inler-ct)mpany transactions. The non￿harlIab1e subsidiary pa￿ £70.00012022: £200.000) lo Promo•mru Ltd by way of gift aid. The net surplLf3 for the year achieved by the non<haritable subsKliary was £6.199 {2022-. £13,356). Page 32

PROMO-CYMRU LTD NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS THE YEAR ENDED 31 MARCH 2024 20 ANALYSIS OF NET ASSETS BETWEEN FUNDS Consolidated Unrestrlcted Restrlctod funds funds Consolldated total ftEnds 2023 2024 Tangible ffted asse15 Current assets Current liabilities Deferred liabilities TOTAL FUNDS 399,851 567,052 -193,244 -184,908 588,751 1,000,118 888.661 121.478 -10,021 1,288,512 688,530 -203,265 -184,908 1.588,869 1,319,635 672,181 -214,706 -197.348 1,579,762 Company Unrestricted RestriGted funds funds Company total funds 2023 2024 Tanglble frxed assets Flxed asset investments Curyent assets Current liabililies Deferred liabilities TOTAL FUNDS 390.048 loo 360.425 -53,300 -183.258 514.015 1.000.118 888,661 1,278.709 loo 481.903 -63,321 -183,258 1,514,133 1,309,667 loo 472,150 -75,665 -195,698 1.510,554 121.478 -10,021 21 ANALYSIS OF NET FUNDS At l Aprll 2023 At31 March 2024 Cashflow Cash al bank and in hand Debt due within one year Debt due after more than one year Net debt 606.247 -ii,ooi -195,698 399,548 -91,496 -1,439 12,440 -80,495 514,751 -12,440 -183,258 319,053 At l April 2022 At 31 Marth 2023 Cashflow Cash at bank and in hand Debt due wlthin one year Debt due after more than one year Net debt 284,943 -11,985 -215,749 57,209 321,304 984 20,051 342,339 606,247 -ii,ooi -195,698 399,548 Page 33

PROMO-CYMRU LTD NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FORT E YEAR ENDED 31 MARCH 2024 22 RELATED PARTIES Controlling entlty The charty is controlled by Ihe trustees who are all directors of the company. Related party transactions Promo-cymru Ltd contracts with Prom￿CYmrU Tr8ding Ltd for the provision of supptsrt resour￿3 lo facililale the completion of giant funded proieds. During the year the charity purchased good5 or receNed services or incurred other liabililtes from Promo-cymru Trading Llmited, a wholly owned subsidiary company. in the sum of £583.91312023'. £384.0361 and, sold goods or rendered services or IKovvJed other assets to Prom￿c￿￿ Tradlng Limited in the sum of £3,783 (2023". £53,452). The chariiy also received £85.000 {2023.. £70.CKKI) by way of gift ald from Prom-cymru Tradlng LiM￿ed. The balance due by the charity at the year end was £23.90712023'. £40,193). Page 34