CHANGING PLACLS
CHANGING LIVES
Groundwork Wales
Annual Report and
Financial Ststements 2023124
Groundwork Wales
Charity registration no. 1096662
Company registration no. 3577896
Registered off ice
Ty Mynyddislwyn Off ices, Bryn Road, Pontllanfraith, Blackwood, Gwent NP12 2BH

Contents
Page
About Groundwork Wales
Chairman's ststement
Govemance
Objectives and public benefit
Strategic report
Overview
Activity highlights
Our plans forthe future
Financial performance
Principal risks and uncertainties
11
Statement of trustees, responsibilities
12-14 Independent audito¢s report
16-17 ststement of financial activities
18-19 Balance sheet
20
Cash flow ststement
21
Notes fomiing part of the financial ststements
Groundwork Wales
ANNUAL REPORT AND FINANCIAL STATEMENTS 2023124

About Groundwork Wales
Groundwork Wales is a charity, working within the federation of Groundwork Trusts, locally and nationally to
transform lives in the UK'S most disadvantaged communities.
We're passionate about creating a future where every neighbourhood is vibrant and green, every community is
strong and able to shape its own destiny and no-or)e is held back by their background or circumstsnces.
We help people gain confidence and skills, get into training and work, protect and improve green spaces, lead more
active lives and overcome significant challenges such as poverty. isolation, low skills and poor health.
Groundwork harnesses the passion, skills and experier)ce of 31 employees ar)d 824 volunteer trustees. In 2023/24
we delivered projects and programmes to 3 Value of some £1.193m.
Groundwork Wales is registered as a company and charity. This report outlines the activity, priorities and financial
position of Groundwork. More information on our work can be found in our Impact Report and on our website.
Chairman's ststement
As incoming Chair l am delighted to present the Chairperson's Trustee Report for Groundwork Wales, summarising
our achievements, challenges, and vision as we contir)ue our joumey of positive impact.
The past year has been a furthertestamentto our resilience. adaptsbility, and unwavering commitment to our mission
of creating sustainable and thriving communities across Wales. Despite the ever-evolving landscape, we have
remained steadfast in our pursuit of environmental and social change.
In 2024/25. we continued to empower communities to be the architects of their own ch3nge. Our green enterprise
initiatives, including programmes like the Fumiture Revival, have harnessed latent talent within underprivileged
communities, fostering economic growth and self-sufficiency. We are actively countering the cycle of poverty by
enhancing people's health, wealth, and well-being.
Our new programme, Community Nature Guardians builds on our experience and commitment to SUPPOrting
community members to look after their local nature and to learn about biodiversity while developing green skills in
nature, supporting community cohesion and health and wellbeing.
Our Healthy Rivers programme was an outstanding success, with high levels of pollution and waste removed from
rivers and increasing community engagement - we are now working across South Wales on Healthy Rivers work.
Green Dragon continued to attract new clients and the Dwr Cymru pilot water efficiency programme was a success,
supporting local people to save water and money on their household bills.
We have adapted our strategy for 2023-2028. and have put energy and time into developing our offer to support
Welsh Governments strategies and to make links between local communities ar)d global issues.
A5 we look to the future, we remain committed to our mission, knowing that there is much more work to be done.
We will continue to adapt, innovate, and collaborate with our partners to address emerging challenges, foster
sustainability, and make a lasting impact in the communities we serve.
In closing, I want to express my appreciation to our board of trustees, partners, and supporters for your continued
trust and commitment. Together, we can build a more sustainable and inclusive Wales.
Thank you for your dedication to Groundwork Wales and our shared vision of a better tomorrow.
James Parkin
Chairman
Groundwork Wales
ANNUAL REPORT AND FINANCIAL STATEMENTS 2023124

Govemance
Registration numbers
Structure
Groundwork Wales, governing documents are its Memorandum and Articles of Association, which were last
amended by written resolution in March 2016.
Board of trustees
The board of trustees sits in accordance with the Charities Act 2011, and they are also the directors of the company
irb accordance with the CompaniesAct 2006. The majorityof ourtrustees are co-opted,with one nominated member
from Caerphilly council. We seek a broad skills base on our board of trustees to enable us to benef it from specialist
expertise and networks.
We take our governance responsibilities very seriously, recognising the need to ensure as much of our resource as
possible is expended on delivering our charitable mission while ensuring our organisation is strong, well-managed
and f inancially viable in the long term.
New trustees are provided with an induction to the organisation, which includes a specific focus on their role and
responsibilities.
Trustees are responsible for ensuring sound organisational systems, processes and policies are maintained and
embedded in the way Groundwork UK is managed. This includes policies governing our fundraising standards, our
investments and our responsibilities to our staff, volunteers and benef iciaries. We pay particular attention to issues
of health and safety. Safeguarding. data protection and information security, each of which has 3 champion on our
board, and maintains comprehensive business continuity arrangements. We undertake a regular skills audit of our
board to ensure we have access to the expertise needed to run our organisation efficiently. effectively and safely.
Groundwork Wales, Management Team is led by the Chief Executive and includes senior staff members responsible
for financial and business management, business developmenL communications and fundraising and programme
management. This team is fully accountable to the Board and its Committees. It operates through delegated powers
outlined in our f inancial regulations and provides regular reports on financial and operational performance and risk
management.
Related party transactions
Each Groundwork Trust is an independent charity with similar aims. We operate within a group structure and
Groundwork Caerphilly is a wholly owned subsidiary. Each Groundwork Trust is therefore responsible for its own
management and administration, and for developing and delivering projects that meet its objectives and core
purposes. Some of the appointed trustees of Grour)dwork Wales are also trustees of Groundwork Caerphilly.
Groundwork Caerphilly is a related party to Groundwork Wales.
Groundwork Wales has considered the other disclosure requirements of the SORP and believes that there are no
other related party transactions.
Groundwork Wales
ANNUAL REPORT AND FINANCIAL STATEMENTS 2023124

Our commitments
Everything Groundwork Wales does is underpinned by 3 set of values. which inform the way we work and behave.
Section 162a of the Charities Act 2011 requires charities to make a statement regarding fundraising activities. We
do rbot undertake widespread fur)draising from the general public.
All of ourfundraising is managed internallyand we do not etnploycommercial participators or professional third-party
fundraisers. The day to day management of all income generation activity is delegated to the senior management
team, who are accountable to the trustees.
Groundwork Wales is not required to be bound by any regulatory scheme.
As a charity dedicated to supporting people who may be vulnerable we are committed to ensuring our operations
are delivered safely and to the highest ethical standards. We have a Groundwork-wide commitment to effective
safeguarding and aim to meet best practice standards in terms of managemer)t, governar)ce and transparent
reporting.
Objectives and public benefit
Groundwork Wales, charitable objectives are set down in its Memorandum of Association and date from the
interpretation of charitable activities when they were drafted in 1998. as amended at annual general meetings and
by written resolution. They commit Groundwork Wales to delivering and promoting regeneration and sustsinable
development 35 follows:
The objects of the Company are firstly to promote the conservation. protection and improvement of the physical
and natural environment anywhere in the area. secondly to provide facilities in the interests of social welfare for
recreation and leisure time occupation with the objective of improving the conditions of life for those living in or
working in or resorting'to Wales,; thirdly to advance public education in environmental matters and of the ways or
better conserving, protecting and improving the same wheresoever. 2nd fourthly to promote the efficiency of other
charities having objects similar to the objects of the Company.
Groundwork Wales, trustees have referred to the Charity Commission's general guidance on public benefit when
reviewing the organisation's objectives and planning ftrture activities. In particular, the trustees consider how
planned activities will contribute to the charitable objectives set out above. Further details about the impact of
Groundwork Wales, activities during 2023124 can be found on the following pages.
Our work is designed to address the needs of all sections of the community and we provide equal access to our
services regardless of race, gender, disability or sexual orientation.
For further details about our work visit www.gr0undw0rko￿uk
Advisors
Auditors
HSJ Audit Limited
Severn House
Hazell Drive
Newport
NPIO 8FY
Bankers
Barclays Bank PIC
South Wale5 Corporate Bankir)gTeam PO
Box 674
121 Queen Street
Cardiff
CFIO 2XU
Groundwork Wales
ANNUAL REPORT AND FINANCIAL STATEMENTS 2023124

The Board of Trust
The trustees Iwho are the directors of the company in accordance with the Companies Act 2(X)61 on the date of
approval of this report, or who served as trustees at ar)y time during the year reported on, are as follow5.
Appointed trustees
Mr B Matthew
First appointed
11 March 2016
Last appointed
Retiredlresigned
Mrs N Rees
11 March 2016
6 September 2024
23 May 2024
Mr J D Greenidge
Mr D Havard
9 February 2018
28 February 2018
5 December 2018
27" May 2022
Iith November 2022
Ms K Heenan-Davies
Mr P Fi3nder
10 December 2018
Mr P Robinson
10 September 2020
24 June 2022
8 November 2022
5 May 2022
Mr S Williams
Mr J Parkin
Mr S Edwards
Chairman
Mrj Parkin
Company Secretary
Ms K Stevenson
Chief Executive
Ms K Stevenson
Groundwork Wales
ANNUAL REPORT AND FINANCIAL STATEMENTS 2023124

Strategic report for the year ended 31 March 2024
The Board of Trustees presents its report for the year ended 31 March 2024. This includes statements about our
organisation Ipage 91, its objectives and it5 goverr)ance Ipage 51. our financial and operational review for the year
(pages 7-81, our plans for the future {pages 71 and details of our trustees, senior staff and advisers Ipages 49-501.
l. Performance oveniiew
2023124 saw a continued recovery and return to the new normal after the pandemic. Grant funding has become
ever more challenging to find for our work and we have invested our own high levels of reserves as a charity, to
fund some environmental work - namely our Community Nature Guardians work.
This investment shows as 3 financial loss. but we are clearly 3 going concern with over 3 million pounds in reserves
(restricted and unrestricted) as well as providing for future needs in terms of building maintenance and
refurbishment. The designated fund was reduced to £123.822 reflecting suff icient money to undertake remedial
repairs to the roof and windows of the building, with the boiler replacement now complete, and building
maintenance work underway.
The vast majority of activities set out in our business plan for the year have been delivered.
Tight control of ourcosts and good performance on existing programmes hasenabled us to report a financial surplus.
allowing us to continue adding gradually to reserves to meet our target of holding 3 yearfs worth of operating costs.
Our social enterprise elements performed well. with trading resulting in positive financial performance, while
meeting our organisational objectives.
Activity highlights
Groundwork continues to deliver a rich variety of local projects, programmes ar)d services that are transforming lives
in local communities and helping more people get involved in taking action to improve their personal circumstances
and the quality of life in their area.
Last year Groundwork Wales sourced £873K of funding or enterprising income. with Groundwork C3erphilly
sourcing funding of £311K to support our collective mission.
Groundwork Wales, activities have added value to communities as follows:.
Supporting communities through grants
Helping to equip communities with the skills, capacity and networks needed to bring about change in their local area
has been core to Groundwork's mission since its inception. Groundwork Wales has developed its role as a grant
manager on behalf of businesses and government, providing robust systems informed by feedback from community
groups and supported 'on the ground, by a network of Groundwork Tnjst enablers. Groundwork Wales has
contributed as follows.
The Tesco Community Grants programme entered a new phase during the year with the small grant scheme
supplemented by a 'fl3gship' programme to mark the celebration of Tesco's centenary. The programme
continues to meet all of its KPIS, and receive positive feedback from Tesco colleagues and community groups. In
2023/24, Tesco Community Grant has provided more than £143.7 million across the UK to over 18,636 local
community projects in the UK.
Programmes
We run a broad range of programmes. all of which benefit communities and individuals in line with our objectives,
including-
Routes2Life
Food for Growth Caerphilly SPF
Cwm y Mynydd Food Sector
The Green Dragon Environmental Standard
Tesco Community Grants Ithrough Tesco Enablers)
Groundwork Wales
ANNUAL REPORT AND FINANCIAL STATEMENTS 2023124

Greencare
WCVA Landfill Disposal Tax Rhymney
Community Nature Guardians Blaenau Gwent SPF
Corporate Social Responsibility Programmes
Dwr Cymru Water Efficiency
Dwr Cymru Healthy River programmes
New to Nature
Save our Wild Isles
Wellies in the Woods
National Grid
The Groundwork Federation
We continue to take an 3Ctive part as a member of the Federation of Groundwork Trusts. collaborating and learning
from others where appropriate.
2. Our plans for the future
In order to ensure Groundwork Wales, activities are fully aligned with the needs and expectations of our wider
federation, our forward plans are clearly and explicitly driven by Groundwork's collectively agreed strategy. This can
be summarised as follows.
Groundwork 2024-2028 Strategy details how we will support communities and people to combat the climate and
nature emergency, improve their health and wellbeing and gain access to learning and work opportunities.
Groundwork 2024-2028 strategic priorities are:
To help people improve their prospects by increasing confidence, skills, wellbeir)g and employability and helping
those out of work to find jobs in the economy.
To help people create better places by making communities greener, healthier ar)d better prepared for the future
and enabling people to work together to bring about change in their local area.
To help people protect the planet by supporting people and businesses to reduce their carbon footprint, cut waste
and take practical action to combat climate change.
We are developing our enterprising units, to account for depletion in the availability of grant funding for our work
and are seeking to grow Green Dragon, Enterprise Centre tenancies and The Furniture Revival, with plans for an
additional shop in Bridgend.
3 Financial performance
Groundwork Wales, net incoming resources for 2023/24 totalled £1,193million (compared to £1,379 million in
20221231, with unrestricted funds of £824K.
Our long-term financial strategy has clear and linked strands as follows:
to manage our overhead costs to ensure discretionary spending is focused on supporting front line delivery and
generating more income while maintaining the capacity we need to operate effectively and safely
to achieve an operating surplus so that we can hold a level of reserves sufficient to sustain our charitable
operations and strengthen our balance sheet to support commercial services and manage the risk of outcome-
based funding arrangements.
3.1 ReseNes
In line with this financial strategy our trustees have agreed that we should aim to hold 3 months operating costs Icirca
£335KI in liquid reserves. We believe this is appropriate for the following reasons:
to absorb short term setbacks such as loss or delays in funding
to provide the working capital required to finance retrospective programme funding which can result in
considerable timing differences between expenditure and receipt of funds
to cover the cost of investing in staff training and development to develop new and improved services for
Groundwork
Groundwork Wales
ANNUAL REPORT AND FINANCIAL STATEMENTS 2023124

to cover the cost of developing new services, such as improved communications, research and quality and
business information systems
to set aside funds for capital assets such as I￿ equipment
to provide funding to cover any unforeseen downturn in activity. allowing alternative activity to be generated
and/or a planned down-sizing of our staff team.
The above needs for reserves have to be balanced against the following factors-
the need to be seen as a respor)sible charity bythe Charitycommission, our partners and funders, our member
Trusts within Groundwork and the communities we seNe
the need to avoid the creation or retention of unr)ecessary surpluses for which there is no future planned
requirement or that bear no relation to our charitable aims.
Our level of free liquid reserves at the end of 2023124 stands at £670k. Our general fund reserve does not include
designated funds, which have been set aside for specific purposes, or restricted funds, which represent advance
Payments by funders held by Groundwork Wales pending completion of project work by Groundwork Trusts and
other delivery partners.
Unrestricted reserves total £824k12022123 £876k).
Restricted funds can only be used in accordance with agreements reached with funders relating to programmes of
work and therefore do not form part of the general reserves that are under the control of the trustees. These funds
will all be distributed during 2024125. The future movements on any such restricted funds reflect the long-term
nature of Groundwork Wales programme activity and in no way reflects on the organisation's financial efficiency or
performarbce.
The charity's subsidiary Groundwork Caerphilly reported an overall net surplus of £23,036 12022/23
£5,269) as detailed in note 10.
3.2 Investments
The majority of the funds obtained by Groundwork Wales are provided against specified projects for particular
needs and are therefore of a restricted nature.
We do not currently invest monies.
3.3 Grant making policy
Groundwork Wales delivers its mission primarily by distributing grants to other delivery partners and to community
groups. These funds are considered to be performar)ce related grants and are recognised in these financial
ststements to the extent thatthe projects which they are funding have been completed. All grant programmes have
specific guidelines, criteria and priorities with a formal process of approval.
3.4 Principal funding sources
Our major sources of funding for the group during the last year are set out below.
Private Sector funding - £220K {£167k in 2022/23)
This includes funds provided by businesses, trusts and foundations, most notably £41k, provided by Tesco
to enable community groups to apply through the Bags of Help programme. Other major funders during
2023124 included Caerphilly CBC & Blaenau Gwent CBC.
Public sector funding- £285K1£276k in 2022/231
This includes funding secured to deliver programmes and seNices on behalf of government departments,
public bodies and lottery distributors.
Groundwork Wales
ANNUAL REPORT AND FINANCIAL STATEMENTS 2023124

3.5 Expenditure on charitable objectives
In line with the objectives set out in our Groundwork 2020 strategy and the Groundwork Wales business plan. our
expenditure in the year was directed towards the provision of resources to support frontline delivery and ensure
our org3nis3tion delivers ettectively and safely.
3.6 Key Perforniance Indicators
Data against a number of key performance indicators is presented to our trustees on a quarterly basis to measure
our success in profile raising, income generation, programme management and continual improvement. These KPIS
are tracked on a rolling basis and compared to target levels of performance outlined in our annual business plan.
Monthly management accounts track progress against our financial targets and reforecasts to the year- end are
made quarterly. A key performance indicator is the amount of income secured as a percentage offorecast salaries
and operating costs. This informs ye3r-end forecasts based on prior years, experience.
Performance during 2023124 has been positive.
3.7 Sustainable Development Report
Groundwork's charitable mission is to promote susLiinable development - helping communities and individuals
develop the understanding and capability to take action and make choices that deliver social equity and economic
prosperity while recognising the need to live within the earth's finite natural resources. In order to have credibility
as an organisation we need to demonstrate that the principles of sustainable development underpin the way we go
about our work. Our sustainable development policy commits us to reporting on how these principles are integral
to the way we plan and manage our operations, support our employees and utilise our resources.
Areas of progress
As a team, we continue to focus on ensuring that our staff adopt more susLiinable practices in the workplace, both
through ongoing reinforcement of messages around electricity use and waste but also through dedicated campaigns
to promote sustainable travel. We prioritise ethical suppliers in our purchasing arrangements for utilities, catering.
cleaning and promotional materials. As a small team of people. we recognise the biggest impact we can make lies in
the programmes we manage and the campaigns we run. Our focus is on securing funds that can help people and
groups make a positive impact on the environment, but we know we can do more to provide support to all those
benefiting from our programmes to act in a more environmentally responsible way. As the whole of Groundwork
refreshes its strategy for the next five years we will press for a stronger focus on developing programmes and
seNices that help communities tackle waste and climate change.
3.8 Principal risks and uncertainties
Our board of trustees understands its responsibilities under the Charity Commission's Statement of Recommended
Practice ISORPI for ensuring that the major risks to which the charity is exposed are identif led and reviewed, and
that there are systems in place to mitigate them.
Trustees regularly review the development and operation of our risk management process and receive quarterly
updates on actions put in place to mitigate the most significant ongoing risks. Risks are identified by our staff teams
and reviewed on a regularbasisbyourmanagementteam. All ofGroundwork Wales, major programmes are managed
on a risk basis with individual risk registers used both as management and reporting tools. We have a comprehensive
business recovery plan in place, which is designed to ensure continuity of Groundwork Wales operations in the
event of a crisis or disaster situation and which has been tested through scenarios in each team.
The major areas of potential risk. for which we have active mitigation strategies in place, are as follows:
Slow recovery in financial climate, inability to secure income and threat to l)ottom line and business viability
Increased competition / Diminishing Grant funds
Lower Business Viability/Pressure on rese￿e5 - Significant reduction in core funding WG. Significant reduction
in funding Local Authorities
Covid-19 Recovery
10
Groundwork Wales
ANNUAL REPORT AND FINANCIAL STATEMENTS 2023124

Groundwork Wales recognises that risk management is an essential part of good business practice and an effective
mechanism of good governance. The Board is committed toensuringthat risk management processesareembedded
throughout the organisation. and that these processes are used to help identify at 3n early stage issues that affect
performance or the achievement of our purpose.
However, trustees also recognise that our process can only seek to manage rather than eliminate risk, and that it
should therefore be only one of the tools that the Board uses to provide effective control and management of the
administration of the charity.
3.9 Financial instruments
Groundwork Wales's financial risk management objective is broadlyto seek to make neither profit nor loss from
exposure to currency or interest rate risks. Our policy is to f inance f ixed assets and working capital through
retained reserves.
4 Statement of trustees. responsibilities
The trustees, who are also the directors of Groundwork Wales for the purposes of company law, are responsible for
preparing the Annual Report and financial statements in accordance with applicable law and regulations.
Company law requires the trustees to prepare financi31 statements for each financial year in accordance with
United Kingdom Generally Accepted Accounting Practice Iunited Kingdom Accounting Standards and applicable
13wI. Under company law. the trustees must not approve the financial statements unless they are satisfied that
they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of
resources, including the income and expenditure of the charity for that period.
In preparing these financial ststements, the trustees are required to-
select suitable accounting policies and then apply them consistently.
obseNe the methods and principles of the Charities SORP-
make judgements and accounting estimates that are reasonable and prudent, and
prepare the financial ststements on the going concern basis unless it is inappropriate to presume that the
charity will continue in business.
The trustees are responsible for keeping adequate accounting records that are suff icient to show and explain the
charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and
enable them to ensure that the financial statements comply with the Companies Act 2(X)6. They are also
responsible for safeguarding the assets of the charifyand hence fortaking reasonable steps for the prevention and
detection of fraud and other irregularities.
Financial statements are published on the ch3ritVs website in accordance with legis13tion in the United Kingdom
governing the preparation and dissemination of financial statements, which may vary from legislation in other
jurisdictions. The maintenance and integrity of the charity's website is the responsibility of the trustees. The
trustees, responsibility also extends to the ongoing integrity of the financial statements contained therein.
Signed on behalf of the Board of tnjstees
James Parkin
Chairman
Date: 2011112024
11
Groundwork Wales
ANNUAL REPORT AND FINANCIAL STATEMENTS 2023124

Groundwork Wales
Independent Auditor's Report to the Members of Groundwork Wales
Opinion
We hai'e audited the financial statements of Groundii'ork. Wales (the 'charitable parent compan> ) and its
subsidiaries {the 'group') for the )'ear ended 31 March 2024. I1"hich comprise the Consolidated Statement of
l-inancial Autii'ilies, Consolidated BalanLe Sheel. Balance SheeL Consolidaled Staiemeni of c.ash l.-loivs and
Notes to the Financial Staiements. includin£ a summar¥- ot signiticant accountino
policies. The financial
reporting frameiiork that has been applied in iheir preparaiion is Llniied Kingdom ALcounling Siandards.
comprising Charities SORP - FRS 102 'The Financial RetK)rting Standard applicable in the UK and Republic of
Ireland, and appliuable law (Uniied Kingdom Generalli. AcCep￿d Accouniing Praciice).
In our opinion the financial statements=
give a true and fair i'ieii. of the state of the group's and parent charits"'s affairs as at J l March 2024 and of its
incoming rcsourccs and application of rcsourccs: including its incomc and cxpcnditurc. for thc I'car thcn
ended;
have been properl). prepared in accordance ii.iih Unl￿d Kingdom Generally Accepled Accouniing Practice;
and
have been prepared in accordance iiith ihe requirements of the Companies Acl ?006.
Basis for opillio
We conducted our audit in accordance iiith International Standards on Auditing {IJKI IISAS IIJK)) and
appliuable lai%". Our responsibililies under ihose sthndards are further described in the auditor responsibilities for
Ihe audit of the financial staiemenis seciion of our rerM)rt. We are independent of the group in accordance ￿'1th
thc cthical rcquircmcntS that arc rclci.ant to our audit of thc financial statcmcnts in thc LIK: including thc FRC s
F.Ihical Stsndard, and iN'e hai'e lultilled our other eihical responsibiliiies in accordance il'ith these requirements.
We believe that the audit evidence hai-e obtained 15 5ufYicient and appropriate to proi'ide a basis for our
opinion.
Conclusions relating to going eoncern
In auditing the tinancial statements. ii"e hai'e concluded that the truslees use of the going concern basis ot
accounling in ihe preparaiion olihe finanLial sthiemens is appropriaie.
Based on the ivork li-e have pertornied: Ive hai"e not identified an!. material uncertainties relating to events or
conditions that, individuallN or colleciii'elN". ma!" cast significani doubl on ihe group's abiliti" to eonlinue as a
going concern for a period of at least M'elTr'e month5 from is.hen the original tinancial statements ivere authorised
ror issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the
relei'ant seclions of this repK)rt.
Other illfortllation
The trustees are responsible for the other information. The other intormation comprises the inforniation included
in the annual report, other ihan ihe financial S￿lements and our audiior s rewrt ihereon. Our opinion on ihe
Iinancial statemenis does not coi'er the other intormation and. eicept to the exteni othern"'ise explicit]￿ stated in
our rcporL wc do not cxprcss an}. form of a55urancc conclusion thcrcon.
In connection with our audit of the tinancial statements. our resFK)nsibilitv is to read the other information and.
in doing so. consider iihether the other infomalion is ma￿rIall1 inconsislenl iiiih ihe financial slalemenls or
our knO￿,ledoe obtained in the audit or otheni.ise appears io be materialli. misstated. If li'e identiA' such material
inconsistencies or apparent maierial missthiements. ii"e are required ￿ deLemine iiheiher ihere is a material
misstatement in the financial statements or a material missiatement of Ihe oiher infomation. If. based on the
ii'ork i*e hai'e perfornied. Me conclude thal ihere is a maierial Missth￿Menl of this other informaiion. are
required to rerx)rt that tact.
Page 12

Groundwork Wales
Independent Auditor's Report to the Members of Groundwork Wales
We have nothino to report in this regard.
Opinion on other matters prescribed by Ibe Companies Act 2006
In our opinion, bascd on thc ii.ork undcrtakcn in thc coursc of thc audit=
the intorniation oii'en in the Strategic Rewrt and Trustees, ReFK)rt tor the financial Near for Ivhich the
rinancial Sta￿ments are prepared is consisleni m.ith ihe financial sthiemen(s- and
the Strateoic Report and Tn]stees' Report haN"e been prepared in accordance iNith applicable legal
requirements.
Matters on iyhich we are required to report b) exception
In the light ol. our knoii'ledge and understandino ot the group and the parent charitable companv and its
environment obthined in the course of the audil. ile hai"e noi ideniified Ma￿rial missialements in the Stralegic
Report and the T￿￿tees, Re￿rt.
We have nothing lo rewrt in respect of the folloii.ing mailers ivhere the Companies Act 2006 requires us lo
report to vou it: in our opinion..
adequate accounting records hal'e not been kepi b!" the parent charithble company". or relurns adequate for
our audit hai'e not been receiN"ed Irom branches not i'isiied bl, us= or
the parent charitable compan). financial statements are not in agreement ii.'ith the accounting records and
rctums. or
certain disclosures of trustees remuneration specified bj- laii" are not made. or
I￿.e hai'e not receii'ed all the inlomiation and explanalions ii"e require for our audil.
Responsibilities of trustees
As explained more fullj. in the Statement of Trustees, RestK)nsibilities (set oul on page I l), the trustees are
rcsponsiblc t-or thc prcparation of thc tinancial 5tatcmcnts and for bcing satisficd that thcN' gI￿.C a truc and fair
'ieM'. and for such internal control as the Irustees detemine is necessaTr' to enable the preparation of financial
statcmLnts that arc frLr from matcrial mi5StatcmcnL Ivhcthcr duc to fraud or L"rror.
In preparino the financial statements. the trustees are responsible tor asse.ssing the charity s ability.. to continue as
a going conccrn, disclosing. as applicablc. mattcr5 rclatcd to going conccrn and using thc going conccrn basis of
accountino unless the trustees either intend to liquidate the charits, or to cease operations, or haN'e no realistic
aliernatiwe bul lo do so.
Auditor responsibilities for the audit of the fmancial statements
Our objectiN'es are ￿ obtain reasonable assurance a￿)ul ii'heiher Ihe financial statements as a ivhole are free
from material misstatcmcnt. M,hcthcr duc to fraud or crror. and to issuc an auditor s rcport that includcs our
opinion. Reasonable assurance is a high lei.el of assurance. bul is nol a guarantee ihal an audil conducled in
accordancc with ISAS (UK) M'ill aliia)'s dctcct a matcrial misstatcmcnt ￿.hCn it clists. Misststcmcnts can arisc
from traud or error and are considered maierial if. indii'iduall!. or in the aggregaie. the￿ could reasonabll, be
expected to influence the economic decisions of users tak-en on the basis of these tinancial staternents.
The extent to ￿h]Ch our procedures are capable of deieciing irregulariiies. including fraud is delailed beloiv..

Groundwork Wales
Independent Auditor's Report to the Members of Groundwork Wales
We obtain and updaie our understandine ol. the entit)". ILS actii'ities. lis control eni'ironment. and likely future
dcvclopmcnt5: including in rclation to thc Icgal and rcgulator)" framcii.ork &wpIiLablc hoii. thc cntity 15
complving Th'ith that frameii"ork.
We communicated identified frnud risks throughoul the engagement ieam and remained alert throughout the
cngagcmcnt proccss for an!" indications of fraud.
As required b}." the auditin? standards. i%"'e identifi" and assess the risk. of material misstaternent of financial
stalemenis, 14.heiher due lo fraud or error: in particular rei'enue recognilion and managemeni owerride of conlrol.
We design and pertorni audit procedures responsii"e to those risks. and obtain audit eN"idence that is sufficient
and appropriaie to proi ide a basis for our opinion. "I"his includes Lonsideraiion of the risk of acls bi the enlil>
that were contrar). to applicable laiis and regulations, includin? traud.
In response to the risk ot- maierial misstatement and non￿omplIanCC M'ith la1¥5 and regulations. including traud.
Ivc dLsigncd proccdurcs iithich includcd=
Enquiry of managcmcnt and thosc chargcd Thith govcrnancc around actual and witcntial litigation and C1￿m5
as ivell as actual, suspected and alleged fraud.
Rci'ici%ing minutcs ot-mcctings ut-thosc chargcd iiith goi"crnancc=
Assessing the extent of compliance i¥ith the laii's and regulations considered to haiie a direct material effect on
the financial statements or the operations of the entits" through enquirn. and inspection.
Rel'le￿,lng financial staiemenl disclosures and ￿5[ing supporting documen(aiion io assess compliance ￿'1th
applicablc law's and rcgulations:
Ideniifving journal eniries and oiher adjusiments ￿ iesi based on risk criLeria and comparing the idenlified
entries to supporting documentation. These included those posted to unusual account combinations:
Assessing w"heiher rek'enue has been accounted for in the correci period and ihe exislence of re￿enue ai the cul
off date based on the adopted accounting FK)lic) for rei'enue.
Because ot the inherent limitations ot an audit. there is a risk- that ive ii'ill not detect all irregularities. including
thosc Icading tu a matcrial misstatcmcnt in thc financial statcmcnts or non-compliancc ivith rcgulation. This risk.
increases the more that compliance ii'ith a laii, or regulaiion is remoi'ed from the eTrents and transactions
rcflcctcd in thc financial statcmcnts. as I4"c iiill bc Icss likcli- to bccomc all.arc of instanccs of non-compliancc.
"I'he risk is also greaier regarding irregularilies occuNing due io fraud rather ihan error. as fraud In￿0]%.eS
intcntional conccalmcnt: t-orgcTh', collusion: omission or misrcprcscnlation.
A turther description of our responsibilities is available on the Financial Reporting Council's website at:
INwv.frc.org.uk/auditorsrc5ponsibilitics. This dcscription form5 part of our auditor s rcporL
Page 14

Groundwork Wales
Independent Auditor's Report to the Members of Groundwork Wales
Use of our report
This repLIrt is made solely 10 the charitable parent companN s In￿tees. as a Ix)dN'. in accordance ivith Chapter 3
of Part 16 of the Companies Act 2006. Our audit li￿rk has been undertaken 50 that ii'"e might state to the group's
irustees those matters i%'e are required io sthie io ihem in an audiior s report and for nc) oiher purpose. .1 o ihe
lullest extent permitted bw laii.. M"e do not accept or assume restminsibilitv to anN'one other than the charitable
parent Lompani. and ils Irusiees as a bodi". for our audil ii"ork. for ihis repx)rL or for ihe opinions 14e hai'e
formed.
Mr Andr¥KI I lill l.'LC.4 ACA DChA Bfp (Senior Sthiuior% Auditor)
For and on behalt of HSJ Audit Limited, Statutori" Auditor
Sei'ern House
Hazcll Driw"c
Neivport
Suuth Walcs
NPIO 8FY
21 NoN'ember 2024
Page li

Groundwork Wales
Consolidated Statement of Financial Activities for the Year Ended 31 March 2024
(Including Consolidated Income and Expenditure Aecount and Statement of Total
Recognised Gains and Losses)
Unreslrieted
funds
Restricted
runds
Total
2024
Note
In¢ome and Endowments from:
Donations and legalies
C haritablc actiN'itics
16.567
852.860
16.)67
1.176.571
323.711
Total income
869.4?7
323.711
1,193.138
Expenditure on:
Charitable actiN"ities
(941.128)
{320.7161
11,261,844)
-l-ou1 expenditure
1941.128)
{320.7161
11.261.844)
Net (expenditurellincome
Transfers beN'een funds
{71:701)
19.001
2.995
{19.0011
{68.706)
Net movement in funds
{52.7(Kl)
{16.006)
{68.7061
Reconciliation of funds
Total funds brought foTh4'ard
876.JJ8
184.211
1.060.549
Total funds carried foni'ard
18
823.638
168.205
991.843
Thc notcs on pa2cs 21 to 44 form an intcgral part of thcsc financial 5tstcmcnts.
Page 16

Groundwork Wales
Consolidated Statement of Financial Activities for the Year Ended 31 March 2024
(Including Consolidated Income and Expenditure Aecount and Statement of Total
Recognised Gains and Losses)
Unreslrieted
funds
Restricted
runds
Total
2023
Note
In¢ome and Endowments from:
Donations and legalies
C haritablc actiN'itics
Other income
4.702
-08). li9
287
2.000
286,99J
6.702
I,J72.152
287
Total income
1.090.148
288.993
1,379.141
Expenditure on:
Charitable aciiN"ilies
(965.0) l )
319.549)
(1,284.600)
Total cxpcnditurc
(96i.Oi l )
{319.5491
11.284.600)
Nel income/(expenditure)
"I ranslers betw'een funds
12i.097
{30.ii6)
{30.09i)
94.541
Nct movcmcnt in fund5
155.192
{60.6) l )
94.541
Reconciliation of funds
Total funds brought foTh4'ard
721.146
244.862
966.008
"l othl funds carried fornyard
18
876.))8
184.211
1,060.549
All ofthe group's acliwilies derii"e Irom conlinuing operations during ihe atN)i"e li￿0 periods.
The funds breakdoii"'n tor 202) is shown in note 18.
Thc notcs on pa2cs 21 to 44 form an intcgral part of thcsc financial 5tstcmcnts.
Page 17

Groundwork Wales
(Registration number: 3577896)
Consolidated Balance Sheet as at 31 March 2024
2024
2023
Note
Fixed assets
Intangible asse
Tangiblc asscts
10
1.281
209.430
183,380
183.380
210.711
Current assets
Stocks
Debtors
Cash at bank and in hand
13
10.521
9,032
252.307
852.054
184.619
814.459
15
1.009.599
1,113.393
Creditors: Amounts falling due within one year
16
1201.lJ61
(26.3,5iil
Net eurrent assets
808.463
849.838
Lyet assets
991.843
1,060.549
Funds of the group:
Restricted income funds
Resiricted funds
168.205
184.211
Unrestricted income funds
Unrcstrictcd fund5
823.638
876.338
Tolal funds
18
991.843
1,060.549
"I'he financial slalements on pages 16 10 44 ii.ere approi.ed bi the Iruslees. and authorised for issue on 20
Noi'ember 2024 and sioned on their behalf bN':
J R Parkin
Trn5tL
Thc notcs on pagcs 21 to 44 forni an intcgral part of thcsc financial 5tstcmcnts.
Page 18

Groundwork Wales
(Registration number: 3577896)
Balance Sheet as at 31 Mareh 2024
2024
2023
Note
Fixed assets
"l angible asse
29.944
40.418
Current assets
Stocks
13
56
Debtors
Cash at bank and in hand
14
212.981
i8J.188
537.418
362.609
15
796.225
900.027
Creditors: Amounts falling due within one year
16
{167.907)
1190,441)
Net current assets
628.318
709.586
Lyet assets
6)8.262
750.004
Funds of the charity:
Restricted income funds
Restricted funds
18
14.125
14.125
Unrestrieted income funds
Unrcstrictcd fund5
644.137
735.879
Total fund5
18
658.262
7iO.004
'l-he financial statements on pages 16 tt) 44 1i.ere approN"ed bi" Ihe Iruslees. and authorised for issue on 20
Noi'ember 2024 and signed on their behalt-bN'=
J R Parkin
Trustee
Thc notcs on pa2cs 21 to 44 form an intcgral part of thcsc financial 5tstcmcnts.
Page 19

Groundwork Wales
Consolidated Statement of Cash Flows for the Year Ended 31 March 2024
2024
2023
Note
Cash flows from operating activities
Net cash (e.xpenditure)lincome
168.706)
94,541
Adjustments to cash flows from Don•c2sh items
Depreciation
Amortisation
26,2)7
1.281
28.871
{41.168)
124.809
Nl'orking capital adjustments
(Increasel/deL'rease in stocks
Decreasel(increasel in debtors
(Decreasel/increase in credilors
13
14
(1,489)
67.688
162.626
2.077
{26.82J)
25.107
16
Net cash flows from operating aclivities
{37.59i)
125.170
Cash flows from investing activities
Purchase of tanoible tixed assets
Sale of tsngible fixed assets
(16,058)
11.229
Nct cash flows from inTr'csting actiTr'itics
(4,8291
Net Idecrease)lincrvdse in cash and cash equiN-alents
137,5951
120.341
Cash and cash cquiN'alcnts at l April
8)2.054
7Jl.713
Cash and cash equivalents at 31 March
814.459
852.054
All ot-the cash flo￿5 are derived from continuing operations during the aboi'e two periods.
Thc notcs on pa2cs 21 to 44 form an intcgral part of thcsc financial 5tstcmcnts.
Page 20

Groundwork Wales
Iyotes to the Financial Statements for the Year Ended 31 March 2024
I Charity status
The charity. is limited b!, ouarantee. incorporaied in Walek and consequentlv does not haN'e share capital. F.ach
ofthe Iruslees is liable to coniribuie an amounl noi exceeding £1 ￿l￿ardS the assets ofihe charit)". in Ihe e￿elll or
liquidation.
-l-he address ol ils registered otrice is:
T), mynyddlsl￿Tr'n o￿l¢e$
Bryn Road
Pontllanlraith
Blackwood
NP12 2BH
'I'hese financial sta*ments M'ere authorised for issue bi ihe truslees on 20 November 2024.
2 Accounting policies
Summary" of significant accounting policies and key iecounting estimates
ThL pi'incipal acLounting policics appliLYI in thc prLparation uf thLsc financial statcmcnts arc sct out bclow.
These policies hai'e been consisientl). applied io all the ! ears presenteiL unless otheni'ise stated.
Statetllent of compliance
Thc accounts hai'c bccn prcparcd in accordancc ii'ith thc charits"'s Mcmorandum and Articlcs ot Association. thc
Companies Act 2006 and "Accounlino and Reporting b! Charitie5'. S(aiemenl of Recommended Pracliue
applicablc to charitiC5 prcparing thcir accounts in accordancc iiith thc Financial Rcporting Standard applicablc
in the UK and Republic of Ireland (FRS 102)" (F.ffectii'e l January 2019). The charits, is a Public Benefit F.ntity'
as defined b). FRS 102.
Basis of preparation
'I'he accounts are prepared in sierling. iyhich is ihe funciional currenL)" olihe eharilN'. Moneiarw amounls in ihese
financial statements are rounded to the nearest£.
The accounts haTr'e been prepared under the historical cost coni'ention.
No separate cash floii. statement has been presented for the chari￿ itself as the charitN, has taken adTranLqge of
thc c.Kcmptions in paragraph 1.12 of FRS 102.
Figurcs containcd in thc financial slatcmcnts hai"c bccn roundcd to thc ncarc5t pound.
Basis ofeonsolidation
"I'he financial slaiements represent ihe consolidaled PK)silion of the group. "l-his comprises Groundi%'ork
Caerphill). and CJC Enierprises I￿,ales) Limited. CJroundii"ork Caerphill!, is a subsidiarv of cJrOund￿'.0rk Wales
and Groundmork Caerphilly oiin IOOO/o of the share capitsl of GC Lnlerprises ales) Limited, which is noiv
domant.
the tinancial statements are consolidated on a line•b)'.line basis and coi'er the consolidated financial position
and transaction5 of all companics cuntrollcd b!" thc charity" from thc datc of acquisition. All intra group
transactions are eliminated on consolidation.
Page21

Groundwork Wales
Iyotes to the Financial Statements for the Year Ended 31 March 2024
Exemption from preparing a cash flow statemenl
The ch1( ritN" opied io earl!. adopi Bulletin I published on 2 February. 2016 and have therefore not included a cash
fluii. statcmcnt in thcsc financial statcmcnts.
Going concern
"I'he charit) reported a net unrestricted ouifloii of{£i2.700) {after transfers belI￿een reseri'es) for ihe Trear. 'l-he
charit!. has sufficicnt frcc rcscTr'cs and i5 monitoring rcsults on a frcqucnt basis. Thc trustccs arc of thc i'icNv that
on this basis the Lharity. is a going conLern and ihere are no Ma￿rial uncertainties about the charity's abilil}' to
continue as a goino concern.
Judgements
In the application ol- Lharili s aLcounting policies. the irusiees are required io make judgements. esiimales and
assumptions about the carry'ing amouni of assets and liabiliiies that are not readil!. appareni from other sources.
'I'he eslimaies and associaied assumptions are based on hislorical eiperience and oiher factors thai are
considered to be releN'ant. Actual results mai. difter Irom these estimates.
'l-he esiimales and underly.ing assumpiions are rei"ieii"ed on an ongoing basis. Rei isions io acLounling esiimales
are recognised in the period in iithich the estimate is rei'ised iithere the rei'ision atyects onl!, that period, or in the
period ofthe re￿.IS1On and future periods i%"here ihe rei ision affects tk)ih currenl and future periods.
Income and endowments
Income is recognised ii".hen the charit}. is leoalls" eniitled to it after an!- pertormance conditions haN'e been meL
thc amounts bc mcasurcd rcliablTr'. and it is probablc that incomc iiill bc rcccii-cd.
Donalions and legacies
Donations are recognised iN'hen the chariti." has been notitied in writing ot knth the amount and settlernent date.
In the ewenl thai a donation is subject to condilions thai require a lei el ofperforniance bl the charil!. before ihe
charit!. is entitled to the funds. the income is deferred and not recognised until either those conditions are fullj.
mLt. or thL fultilmcnt of thosc condition5 15 11"holl!" ii.ithin thc Lontrol of thL charits" and it is probablc that thcsc
conditions 14.ill be fulfilled in the rewrting period.
Grants rec'eivable
Income and grants are included in incoming resources ivhen receii"able. eicepi as folloms: .
When donors specify that the grants must be used in fvture accounting periods. the income is deferred until
those periods.
When donors impose conditions iyhich have ￿ be fulfilled before the charili. becomes eniitled io use such
incumc, thc incomc is dcfcrrcd and not includcd in incoming rcsourccs until thc pre conditions for usc havc bccn
mLt.
When donors specify that grants are for particular restricted purkX)ses. ii,hich do not amount to pre-conditions
regarding entiilemenL ihis income is included in incoming resources of reStric￿d funds iihen receivable.
Deferred income
Deferred income represents amounts receii'ed for future periods and is released to incoming resources in the
period for Kvhich, it has been received. Such income is onl). deferred iihen..
'I'he donor specifies ihai ihe grant or donalion must onl! be used in future accountin? periods; or
The donor has imposed condiiions iithich must be met before the charits. has unconditional entitlement.
Page 22

Groundwork Wales
Iyotes to the Financial Statements for the Year Ended 31 March 2024
Oiher income
Cirants that relate to capital expenditure on specitic projects are tredted as restricted funds that are charged to the
incomc and cxpcnditurc accuunt at acquisition. This trcatmcnt is duc to thc naturc of thc funding as thc grants
are receii'ed to proN'ide equipment to specificall! run the projects and ser¥'ices.
Expenditure
Expcnditurc incurrcd by thc chariti. in thc 1.car has bccn split bctlvccn rc5trictcd and unrcstrictcd funds. C05t5
have been anall'sed beN'een direct charithble expendiiure. fundraising and publicils. and the administration and
managcmcnt of thc charity.. Expcnditurc rclating dircctl!- to a cost catcgorK- has bccn chargcd to that account.
Lxpendilure. i¥hich includes more than one cosi Ca￿gOrn. has been apportioned on a reasonable, juslifiable and
consistent basis to the cateoories ini'olved. Committed expenditure that has Tret to be ini oiced is: in line M'ith
besi accouniing practice. not recognised in these accounts. li is iniended that such expendi￿re will be funded by
future income tloi¥s.
Expenditure is recognised once there is a legal or constructiN"e obligation to make a pa"!wment to a third party, it
is probable that seiilemeni iiill be required and Ihe amouni of Ihe obligaiion can be measured reliabl)..
Lxpenditure has been allocated ￿ managemeni and adminisiraLion ol Ihe IrusL Mhere il relales lo ihe
manaoement ot the trust's &ssets. organisational administrdtion and compliance iNith constitutional and statutory-.
rcquircmcnts.
Rcsourccs cxpcndcd arc rccogniscd in thc pcriod in ivhich thc!- arc incurrcd.
Churituble uelivilies
This includes all expenditure directlw related to the aims of the charitv as follo￿"s=
To promote the conservation. prolection and improi'ement of the phl'sical. and natural eniwironment.
-1 o provide facilities in ihe interesis of soLial i%"eifare for recreaiion and leisure time OCLupalion M'iih ihe
bjective ot improving the conditions ot. lite tor those lii'ine. Ivorking and i'isiting in the area.
To dd￿'anCC public cduLation in cni-ironrncntal mattcrs and in thc i%"a!'5 of bcttcr conscrwing. protccting and
improving the eni'ironmeni.
Support costs
Support costs include central tunctions and hai'e been allocated to actii'iti. cost categories on a basis consistent
ii"'iih Ihe use of resources. for example. allocating propertv costs by floor areas. or per capira. staff costs by the
timc spcnt and othcr costs b)" thcir usagc.
Governance costs
'I'hese costs include the costs of goi'ernance arrangements. Ivhich relaLe lo ihe general running of Groundwork
Wales as opp)sed to the direct manaoement tunctions inherent in generating tunds. seTh'ice deliN'eThT and
progr￿rnc of prujcct ii"ork. Thcsc includc such itcms a5 Citcrnal audil Icgal adN'icc for trustccs costs
associated ￿-1th constitutional and stalulon. requirements.
Taxation
A5 a rcgistcrcd charits.. Groundw'ork Walcs is cntitlcd to thc clcmption from t&xation in rcspcct of incomc and
capital gains receii'ed ii'ith sections 478489 of Ihe CorrM)ration Tax Act 2010 and section 256 of the Taxation of
Char2cablc Gains .4ct 199? to thc citcnt that thcsc arc applicd to its charitablc objccts purposcs only.

Groundwork Wales
Iyotes to the Financial Statements for the Year Ended 31 March 2024
Intangible assets
Intangible assets are stated in the Balance Sheet ai cost less accumulated amonisation and impairment. They are
amortised on a straight line basis over their estimated useful lii"es.
Tangible fixed assets
Indii idual fixed assets costing £iOO.00 or more are iniliall!" recorded at cosi. less anv subsequenl accumulaied
depreciation and subsequeni accumulated impainneni losses.
Amortisation
Amortisation is provided on intsthgible fiAed assets so as ts) liTi￿ off ihe cosL less any eslimaied residual i.'alue,
over their expected useful economic life as follo￿5=
Asset elass
DeN'elopment costs
Amorti58tion method and rate
2(W/D on cost
Depreciation and amortisation
Dcprcciation is proi.idcd on tangiblc fi.xcd asscts so as to writc off thc cost or valuation. Icss anN' cstimatcd
residual value. oi'er their expected usefvl economic life as folloivs:
Asset elass
Computers
O￿lee Lquipmeni
Plant and Machincry
Buildings
Land
Motor Vchiclcs
Depreciation method and rate
33.JJ /D on cost
2￿/0 on cost
200/0 on cost
2. jO/o on cost
00/0 on cosi
200/0 on cost
Research and development
Deielopment expenditure incurred on an indii idual proje￿ is Carried fo￿Vard ￿hen ils fulure recoi'erabilit) can
reasonabl!" be reoarded as assured. An!. e.Kpenditure carried loni.ard is amortised in line with the expected future
income from the relaied projeci.
Business cotnbillation5
Business combinations are accounted for under the purchase method. Where necessary.. adjustments are made to
the financial statements of subsidiaries tr) bring ihe accouniing policies used inkn line iiiih ihose used by ihe
group. All inira-group tran.sactions. balances. income and expen.ses are eliminated on conwlidation. In
accordancc with Scction 35 of FRS 102. Scction 19 of FRS 102 ha5 not bccn applicd in thcsc financial
statements in respect of business combinations effected prior to the date of transition.
Sioek
Stocks arc valucd at thc lowcr of c05t and nct rcalisablc I"aluc. Nct rcalisablc valuc is bascd on thc cstimatcd
selling price after ￿king inio account all further costs and eicess stocks that are sloii, moving.
Page 24

Groundwork Wales
Iyotes to the Financial Statements for the Year Ended 31 March 2024
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or seThices perfom)ed in the ordinar!
course of business.
Trade debtors are recognised iniliallv at the transaction price. Thev are subsequentlv measured at amortised cost
using ihe eftec'tive interesi meihod. less proi'ision for impaimeni. A proi'ision for Ihe impaiment ol- Irade
debtors is established ivhen ihere is objectii'e ei'idence that the charit). ii.'ill not be able to collect all amounts due
according io the original iernis of the receii'ables.
Cash and cash equivalents
Cash and cash equii'alents include cash in hand. dewsits held at call ii.'ith banks, oiher short-tenn liquid
inwcstmcnts Thith original maturitics of thrcc month5 or Ic5s. and bank- ovcrdraft5. Bank ovcrdrafts arc Sho￿71
Iviihin bom)ii'ings in current liabilities.
Trade creditors
Tradc Lrcdilors arc obligations to pa), for goods or 5crviccs that haic bccn acquircd in thc ordinaTr' coursc of
business from suppliers. ALcounis pal'able are classified as curreni liabiliiies if ihe chariti, does not have an
unconditional right. at the end of the rewrtino period. to defer settlement ot the creditor for at least twelN'e
monihs after the reporting date. If there is an uncondilional righi io defer seiilemeni for ai leasl lii"eli'e monihs
afler the rep)rtino date. the). are presented &s nonwcurrent liabilities.
Trade credit(Trrs are recognised initiall! at the transaction price and subsequentlv measured at amortised cost
using the eiTeL'lii'e interest meihod.
Fund structure
Unrestricted funds are aN'ailable for use at the discretion of the directors in furtherance of the Trust's general
objcctivcs.
Desionated funds are funds set aside b! the trustees out of unrestricted generdl ￿ndS for specitic future purposes
or projects.
Restricted funds are tunds subject to specitic restrictive conditions imposed bl." the terms ot the grant or funding
bod).
Hire purchase and finance leases
The rentals under operatino leases. iithere substantiall!- all the benefits and risks of oiii]ership remain iNith the
Ics50r. arc Lhargcd against profit as incurrcd.
Pensions and other post retirement obligations
The charity. operates a defined contribution scheme for Ihe benefit of its emplo>'ees. The a&sets of the scheme are
hLld scparatcl). from thosc of thc charitt". Contribution5 pal.ablc arc chargcd to thc profit and Ios5 account in thc
year they are pai'able and are charged againsi unresiricted funds.
Page 2)

Groundwork Wales
Iyotes to the Financial Statements for the Year Ended 31 March 2024
Financial instruments
Cla55ificalion
BasiL financial liabiliiies. including creditors and bank loans are iniiiallN' recognised at transaction price unless
thc arrangcmcnt constitutcs a tinancing transaction. ii.hcrc thc dcbt instrumcnt is mcasurcd at thc prcscnt i'aluc
of the future pa) ments discounied al a markei raie of inieresi. l-inancial liabililies classified as pal'able wiihin
one vear are not amortised.
Basic financial liabilities. including creditors and bank loans are initiall). recognised at transaction price unless
the arrangement constiluies a financing Iransaciion: i1.here the debi insirumeni is measured ai ihe present i.'alue
I. the tuture pal'ments discounted at a mark-et rate ot. interest. Financial liabilities classified as pa!Table 14ithin
onc ycar not amorti5cd.
Recognition und measurem￿nt
Financial liabilitics arc dcrcc02niscd m.hcn thc charits s contractual obligations cypirc or arc dischargcd or
cancelled.
3 Income from donations and legacie5
Unrestricted
fund5
General
Total
2024
Total
2023
Donations and Icgacics-
Donations trom individuals
16.567
16.i67
6.702
16.)67
16.)67
6.702
4 Income from charitable activities
Unrestricted
run(ts
General
Restricted
funds
Total
2024
Welsh Assembly
Public Agencies and National Charities
Local Authority
PriN"atc Scctor
210.000
4.181
99.367
210,000
284.579
115,i08
219.587
22.294
38,208
284.970
1,42)
280.J98
16.141
219.i87
CJrants
12.131
38.208
284.970
1.425
10,163
Lni'ironment Centre
Furniturc Rci'ii'al
Other Income
8)?.860
J23.711
1.176.571
Page 26

Groundwork Wales
Iyotes to the Financial Statements for the Year Ended 31 March 2024
Ullrestricled
funds
General
Restricted
funds
Total
2023
Welsh Assemblv
Public Agencies and National Charities
Local Authority
PriN"ate Sector
Eni'ironment Centre
Fumilure Rei.ii.al
210.000
43.903
210,000
275.915
2)2.012
407.i10
24.090
431.6(M)
157.772
9,000
166.772
61,664
226.201
61.664
226.201
1.08i.l i9
286.993
1,372.152
5 Expenditure on charitable activities
Activity
undertaken
directly
Activity
support costs
2024
2023
Staff costs
Volunteer costs
607.047
142.451
749.498
3.669
87,715
119,924
738.277
3.3)9
75.748
120.399
16.904
i.669
Material & direct purchases
Subconlraciors & consultancy
Training and rccruitmcnt
Project Trai'el and Transport
Project Publicity
Traincc Alloii'ancc5 and ExpcnsC5
Protessional Fees
Administration & Sundry
Communications & IT
Motor. "I"rai'el & L.xpenses
Rccruitmcnl &. Training
Premises F.xpenses
Depreciation
Gov"crnancc
87.715
119.924
38.715
38.71)
39.574
2.967
4iO
2.967
450
1,821
69.696
7.733
19,806
490
78.318
78,318
7.736
22.978
1.705
7263
6.031
15.715
343
343
6.347
76
6.423
3,587
99.309
28.392
46.236
67.063
20,088
87,lil
27.332
28.625
28.62)
1.048.858
212.986
1.261.844
1.284.600
Page 27

Groundwork Wales
Iyotes to the Financial Statements for the Year Ended 31 March 2024
6 Net incomingloutgoing resource5
Net {outgoing)/incoming resources for the l'ear include:
2024
2023
Operaiing leases- other assets
Audit fees
Dcprcciation of fixcd as5cts
Amortisation of goodHill
1.690
8.750
26.0) I
1.281
1.690
12.072
28.871
1.281
7 Truslees remuneration and expenses
No trustCC5. nor an). pcr50n5 conncctcd Mith thcm. haic rcccii'cd anN' rcmuncration from thc group during thc
year.
No trustees hawe receii'ed an!, reimbursed eipenses or an!. other benefils from the chariti during the year.
8 Staff cost5
Thc aggrcgatc payroll costs ThErc a5 follows=
2024
2023
Staff costs during the year were:
Il'ages and salaries
Social securil). cos
Pension costs
678.852
54.023
16.623
641.364
58.860
749.498
7J8.254
-l-he monthl! ai'erage number of persons (including senior managemeni I leadership leaml employed by ihe
group during the ￿ear expressed as full time equii'alents il'as as follows..
2024
No
2023
No
Direct charitable
Managcmcnt and admin
21
24
28
'l-he number ofemploN'ees w.hose emoluments lell Miihin the follo￿,Ing bands ii"as=
2024
£60.001- £70.000
The total emploTr'ee benefils of the k'e). management t￿r$onnel of the group ￿'Cre £201.048 (2023 - £198.598)-
Page 28

Groundwork Wales
Iyotes to the Financial Statements for the Year Ended 31 March 2024
9 Taxation
The group is a registered charits. and is therefore exempt from uyation.
Page 29

Groundwork Wales
Iyotes to the Financial Statements for the Year Ended 31 March 2024
10 Intangible fixed assets
Group
IT equipment
Total
Cost
At l April 202)
Diswsals
6.988
16.988)
6.988
(6.9881
At 31 March 2024
Amortisation
At l April 2023
Charge for the vear
F.liminated on disposals
5.707
.281
16.988)
5.707
1,281
{6,988)
At 31 March 2024
Lyet book value
At 31 March 2024
At 31 March 2023
.281
1.281
I l Tangible fixed assets
Group
Land and
buildings
Furniture and
equipment
Molor vehicles
Total
Cost
Ai l April 202)
Disw5als
l iO.(NJO
114.926
{11.400}
{11.400)
At 31 March 2024
liO.(K)O
8.734
103.526
262,260
Depreciation
At l April 202)
Char2C tor thc i'car
F.liminated on disposals
22.iOO
-875
34.670
22,79)
{11.400)
64.023
26.2)7
{11.4001
,)87
At 31 March 2024
8.440
46.065
78.880
Net book value
At 31 March 2024
12i.625
294
i7.461
18).)80
At 31 March 2023
127.iOO
1.881
80.256
209.6J7

Groundwork Wales
Iyotes to the Financial Statements for the Year Ended 31 March 2024
Charity
Land alld
buildiDgs
Furniture and
equipment
Motor vehicles
Total
Cost
At l April 2023
Disposals
liO.(K)O
8.734
114.926
{11.400)
273.660
{11,400)
At 31 March 2024
l iO.000
8.734
103.526
262.260
Depreciation
Ai l April 2023
Chargc for thc i'car
Eliminated on disposals
22.iOO
-875
64.023
26.257
{11,4001
l.i87
22.795
{11.400)
At 31 March 2024
8.440
46.065
78.880
Net book value
At 31 March 2024
12i.62i
294
i7.461
183.380
At 31 March 202J
127.ioo
1.881
80.256
209.6.;
12 Fixed asset inve5ttllents
Group
Details of undertakings
Details ot the In￿'estmentS in Isthich the oroup holds 20O/D or more ot the nominal i'alue of an) memberships or
sharc capital arc as folloM'5=
Proportion of voting rights
and membership I share5
held
Country of
incorporation
Principal
activity
Undertaking
Holding
2024
2023
Subsidiary undertakings
CiroundNN'ork Caerphill). England & Wales
I 0￿/0
notcd
belou..
GC Entcrpriscs (Walcs)
Limited
-l-hal of
domianl
company
England & Wales
Ordinary.
IOOO/o
loo.

Groundwork Wales
Iyotes to the Financial Statements for the Year Ended 31 March 2024
Subsidiaries
The profit for the financial period of CJroundiiork- CaerphillN" I12s £?3.036 {2023 £5,269) and the aggrega
amount ot-capital and rL5cr%"cs at thL cnd ut-thc PLriod lias £)JJ.68012023 - ts10.644).
On l Fcbruar! 201) thc charit! bccamc a subsidiaTr' of GrOUnd￿"ork ￿a[C5. GroundNvork Cacrphilly is a
charilable companj.. limited b!. guarantee and incorrM)rdted on 14 MaN' 1990 in F.ngland and Wales. Company.
numbcr 02iO1792. charit!" numbcr 100681 I rcgi5tcrcd 13 Dcccmbcr 1991. Thc objccts of thc charity" arc..
To promotc firsil!." thc conscTh'ation prolcction and improi"cmcnt of thc phi-sical and natural cni'ironmcnt.
-1-0 provide facilities in the interests ofsocial i%elfare for recreaiion and leisure.
To ad￿'ance public education in environmental matters and ot. better ii?N's of better conserving protecting and
improving the same.
Thc protit for thc financial pcriod ot-GC Entcrpriscs {Walc5) Limitcd £Nil 12023 - £Nil) and thc aggrcgatc
amount of capital and resen es ai the end of the period ￿2S £(100) (202) - £(100)I.
13 Stock
Croup
Charity
2024
2024
2023
Stocks
10.521
9.032
56
14 Debtors
Group
Charity
2024
2023
2024
2023
Trade debtors
128.i3i
102.231
113.519
59,408
13.823
26.229
98.816
301.110
137.492
Due from group undertakings
Prepavments
Accrued income
Othcr dcbtors
28.?)3
27.829
14i.2i2
4.824
184.619
252.J07
212.981
537.418

Groundwork Wales
Iyotes to the Financial Statements for the Year Ended 31 March 2024
15 Cash and cash equivalent5
Group
Charity
2024
21123
2024
2023
Cash on hand
Cash at bank
77
814.J82
27
i83.161
852.Oi4
362.609
814.4)9
85?.Oi4
58).188
362.609
16 Creditor5: atllounts falling due within one year
Croup
Charity
2024
21123
2024
2023
Trade creditors
Other taxation and social securily
VAT gtant rcpavablc
Other creditors
Accruals
Deferred income
49.822
10.319
68.277
47.400
i.627
101
10.47)
2.002
84.018
5.627
2.002
106.9&1
120.031
69.)19
94.992
66.)24
201.136
26i.)i5
167.907
190.441
17 Pension and other sehemes
Defined contribution pellsion scheme
The group operdtes a defined contribution pension scheme. The pension cost charge for the Jear represents
contributions pavable the group to the scheme and amounied 10 £16.623 (202J - £38.030}.

Groundwork Wales
Iyotes to the Financial Statements for the Year Ended 31 March 2024
18 Funds
Group
Balance at
31 March
2024
Balance at I
April 2023
Incoming
resources
Resourees
expended
Transfers
Unrestricted funds
General
General funds
General funds- Ground￿'Ork
Cacrphill}'
617.249
i59.180
li86.643)
{23.285)
566,iO I
70.7))
3)9.073
(2ii.722)
{40.791)
133.315
688.004
918.2))
(842.)65)
{64.076)
699.816
Designated
Building Maintenance Costs
Cardiff City Council
Donation
Marketing
2xVanDep
BD Consultanc
741
741
13.080
(4.019)
(211)
i.31)0)
9,061
959
1.170
19.)71
2.0(Xl
14.271
{2.000)
Translation
4.829
4.829
Salaries & Overhead
2023123
Funds received t.or 24125
l.aplop Depreciation
Building maintenance cos
77.240
(73,750)
{3:490)
36.076
11.700
40.791
36,076
11.700
46.185
(64.)091
188.3)4
(147.i89)
83.077
123.822
Total ullre5tricted fund5
876.3J8
918.2)3
(989.954)
19.001
823.638
Restricted funds
ACT {Traineeships)
Groundwork Wellbeing
(Nl'CJl
Natwest Enterprise Ofticer
Nuriure, F.quip. Thrii'e
Postcode Loitery (R2L)
Regeneration IWG)
Roules to l.ife
-l-esco Pla),
WC'VA - Landfill Disp05als
Tax Communiiies Scheme
Grant
594
594
1.363
1,363
228
2.667
228
2.667
19.001
{19.001
1.9
1,9(M)
210.000
{210,0(K))
{34.193)
506
34.193
506
6.652
6.652
4.181
(4.181)

Groundwork Wales
Iyotes to the Financial Statements for the Year Ended 31 March 2024
Balance at
31 ￿larch
2024
Bglance at
April 2023
Incoming
resources
Resources
expended
Transfers
Welsh CJovernment -
215
215
Routcs 2 Lifc= Food for
Growth Caerphilll, SPI-.
Communitw Naturc
Guardians Blaenau Giyent
SPF
16.561
(16.561)
29.612
{29.612)
TJ. M)'nyddislMry'n
Lni'ironmenl Centre
Garficld Wcston
w1ndp0￿"er Community
Fund
Circular Economy Fund
Pen Bry'n Oer
Quaker Oa
-l-esco Communilv Grani
127.500
2.431
(1.878)
{2.431)
125.622
172
(172)
{12:i25)
(6.663)
{ 1.000)
{1.500)
27,4)8
6.663
1.000
2.500
i.o(x)
Total restricted funds
184.211
323.711
1320.716)
{19.001)
168.205
Tolal funds
1.060.549
1.241.964
( l.J10.6701
991.843

Groundwork Wales
Iyotes to the Financial Statements for the Year Ended 31 March 2024
Balance at
31 ￿larch
2023
Bglance at
April 2022
Incoming
resources
Resources
expended
Transfers
Unreslrieted funds
General
General funds
General funds- Groundiyork
Caerphilly
546.475
805.9)5
(688:Oi6)
{47:145)
617,249
J60.926
(29J.579)
{30.000)
70.7)5
i79.883
1.166.881
(981.615)
(77.145)
688.004
Designaked
Building Maintenance Costs
Cardift-city Council
Dunation
Food Scnsc Walcs
Oftice Deco
Mark"eting
2xVanDcp
BD Consultancy
Translation
Salaries & Ol'erhead
2023123
904
(163)
741
17.099
6.368
{4.019)
{6.368)
(i.IrKJ)
(8301
(4.422)
13,080
1.1
2.0(K)
1.170
19.)71
2.0(M)
2.0
5.0
(171)
4.829
77.240
77,240
69.703
Building maintenance costs
82.800
{43.097)
141.264
{60.170)
107.240
188.334
Tolal unrestricted funds
721.147
1.166.881
(1.041.785)
30.095
876.338
Restricted fund5
ACT {Trainccships)
Business Resilience Fund
594
594
330
(330)
(12.367)
Get together IFSW)
Groundw'ork Wcllbcing
11.217
1.150
(W'GI
Natw'esl Ln*rprise O(ficer
Nurturc, Equip.- Thrivc
Postcode Lotter! (R2L)
Regeneration IWCI)
Rouies io l.ife
5￿t￿nder Intcrnship
Tesco Enablers
1.363
228
1.363
228
2.667
2,667
1,9(K)
1.9
210.000
{210:0(K))
(34.1931
{19.839)
506
506
{30,123)
Tesco Play.
WCVA - Landfill Disposals
T&K Communities Scheme
Grant
6.652
6.652
1.000
(1.028)
28

Groundwork Wales
Iyotes to the Financial Statements for the Year Ended 31 March 2024
Balance at
31 ￿larch
2023
Bglance at
April 2022
Incoming
resources
Resources
expended
Transfers
WCVA - Landfill DisFMisals
-l-ax Communilies Scheme
Grant - Aberbeeg
Welsh Goi'emment -
ENRaW
13.681
(13.681)
215
215
Ty MynN'ddisli¥vn
Eni'ironmcnt Ccntrc
Garfield Weston
Windpoiier Community.
Fund
Circular Economv Fund
Pen Br)'n Oer
Cwtsh
129.375
{1:875)
16.600)
127,5(M)
2,431
9.031
372
{200)
{10.306)
14.816)
{4.314)
172
50.289
39,983
4.816
Total res¢ri¢ted funds
244.862
288.993
1319.i49)
(30.095)
184.211
Tolal funds
966.009
1.4ii.874
( l.J61.J34)
1,060.549

Groundwork Wales
Iyotes to the Financial Statements for the Year Ended 31 March 2024
Charity
Balance at
31 March
2024
Balance at
April 2023
Ineoming
Te50urces
Resources
expended
Trallsfer5
Unrestricted funds
General
General funds
617.248
i59.180
1586.643)
(23.285)
566,500
Designated
Building Maintcnancc Costs
Carditycity Council
Donaiion
Markcting
2xVanDep
BD Consultanci,
-l-ranslation
Salarics & ON'crhcad
202J124
Funds receiN'ed for 24125
Laptop depreciation
741
741
13.080
1.170
(4.0191
(211)
().3￿)
9.061
959
19.)71
2.0(Kl
4.829
14,271
{2.000)
4.829
77.240
(73.750)
13.490)
36,076
11.700
36.076
11.700
118.6Jl
{8J.2801
42.286
Total unrestricted funds
7Ji.879
ii9.180
1669.923)
19.001
644.137
Restricted funds
AC.T ITraineeships)
Groundw'ork Wcllbcing
594
594
(W'GI
Natw'esl En￿rprISe O(ficer
Nurturc, Equip.- Thrivc
Postcode Lottern, (IL?L)
Regeneration (WG)
Rouie to Life
Tesco Pla).
WCVA - Landfill Diswsals
-l-ax Communilies Scheme
CJrant
1.363
228
2.667
1.363
228
2.667
19.001
{19.001)
1.9
1,9(K)
210.000
{210:0(K))
(34.193)
506
6.652
506
6,652
4.181
{4.181)
Welsh Gol'ernment -
ENRaW
215
215
Rouie 2 1.ife: Food for
Grolsth C"acrphillN' SPF
Communiti, Nature
Guardians Blaenau G￿"ent
SPF
16,561
(16.561)
29.612
{29.612)
Total restricted funds
14.12)
J l ).548
(294.i47)
{19.001)
14.125

Groundwork Wales
Iyotes to the Financial Statements for the Year Ended 31 March 2024
Balance at
31 ￿larch
2024
Bglance at
April 2023
Incoming
resources
Resources
expended
Transfers
Tolal funds
7iO.004
87?.728
(964.470
6)8.262

Groundwork Wales
Iyotes to the Financial Statements for the Year Ended 31 March 2024
Balance at
31 ￿larch
2023
Bglance at
April 2022
Incoming
resources
Resources
expended
Transfers
Unreslrieted funds
General
General funds
546.474
805.9)5
(688:Oi6)
{47:145)
617,248
Designated
Building Maintenance Cosls
Cardift"City' Council
Donalion
I'ood Sense Wales
Officc Dcco
Marketing
2xVanDep
BD Consuliancv
Translation
Salaries & Overhead
2023124
904
741
17.099
(4.019)
16.368)
11.100)
(830)
(4.422)
13.080
1.100
2.0
1.170
19.571
2.0(X)
4,829
23.993
2.0(K)
5.0
(171)
77.240
77.240
58.4fv1
(17:07J)
77.240
118.631
Total ullre5tricted fund5
604.9J8
80i.9i5
(70i.109)
7J5.879
Restricted funds
ACT {Traineeships)
Business Resilience l. und
Gct togLthcr IFSNVI
Ground￿'Ork Wellbeing
594
594
330
11.217
(330)
(12.367)
1,150
(II'G)
1.363
Natw'cst Entcrprisc OtTiccr
Nurture. Equip. ThriN'e
Postcode l.otteTh' (R2L)
Regeneration (WG)
Routc to Lit-c
Santander Internship
Tesco F.nablers
Tesco Pla).
WC.VA - Landfill Disw5als
-l-ax Communilies Scheme
Grant
228
228
2.667
2,667
1.9(K)
1.9(Ml
210.000
34.193
{210.0(X))
{34.193)
{19.839)
506
506
19.839
30.123
6.652
(30.1231
6.652
1.000
{1.028)
28
WCVA - Landtill Disposals
-l-ax Communilies Scheme
Grant - Aberbeeg
Welsh Gol'ernment -
ENRaW
13.681
{13.681)
215
215
Total restrieted funds
55.79)
279.86)
(291.438)
{30.095)
14.125
Page 40

Groundwork Wales
Iyotes to the Financial Statements for the Year Ended 31 March 2024
Balance at
31 ￿larch
2023
Bglance at
April 2022
Incoming
resources
Resources
expended
Transfers
Tolal funds
660.733
1.08i.818
(996.i47)
750.004
Page41

Groundwork Wales
Iyotes to the Financial Statements for the Year Ended 31 March 2024
Thc spccific purposcs for Ththich thc fvnds arc to bc applicd arc as folloTh5:
ACT Traineeships - funding proi'ided toiyards providing traineeships.
GroundKN'ork Wellbeing {WGI Heritage Fund - Funding a broad range of projecls that connect people and
communitie5 10 the national. regional.and local her1￿￿e ofthe UK.
Natwcst Entcrpri5c OtTiccr
beneficiaries.
funding to crnplo!" a mcmbcr of staff to offcr financial litcracy skills to
Nuriure, Equip, ThrI￿e - This is a European funded programme ii.hich supwrts people to undertake health and
IN"cllbcing actii'its. w.hcn thc!" arc otT ii.ork sick: and also hclps organisations to hclp thcir Ni"'oi'kforccs to sta).
healthy and fit at ￿Ork.. prei'enting illness and supporting ii'ellbeing.
Postcode Lotlerv (R2LI - -l-he aim of Ihe fund is to suppx)rt smaller charilies and good causes lo make a
dityerence to their community. for the benefit of people and the planet.
Regeneration [WGJ- This core funding continues to support our oroanisation iiith a focus on tow] centre ￿ork.
Routes to life - We continue to run our horticulturnl project= providing placements for a wide range ot clients
and voluntccrs.
Welsh (FOi.ernment - LNRaW Our We Care progrnmme enables us ￿ proi'ide opwrtunilies for people lo
participate in Green Teams. Volunteering and F.ducation Mthilst also achiei'ing accreditation. The Programme
supports thc biodii'crsits. and communit). owijcrship of grccn 5paccs and ￿C ii-ork in partncrship Th'ith
GroundKI'ork North Mlales.
WCVA - Landfill Disposals Tax Communities Scheme Grani - Aberbeeg -"1 o support Aberbeeg C.ominunil
Ccntrc to makc bcttcr usc of its grccn spacc. includin2 installation of scating arca and planting of fruit trccs.
l-unding terni= l lear Irom pl December ?020.
WCV A Landfill Disposals Tax Communities Scheme Grani - Nanl vr Lber - Working ihrough the Landfill
Disp)sals T&x grant. ￿'1th Welsh Waler. Natural Rewurces Il'ales. local shoals and communit), members and
Carditl- Rii'ers Group, M'e undertook a clean-up programme on the Nant !r-Aber. in CaerphillN' ￿.OrkIng from the
source of the Nant-Tr'r-Aber in AbertridiiT to its conlluence ￿"1th the Rii"er Rh!.-mneN'" in Caerphillv.
Ty MN'ri>'ddisliNTr'n F.nN'ironment Cenire - This represents funding provided to purchase the property under the
capital a55Ct tran5fcr schcmc. Thc dcprcciation c05t is shoiii] in rcsourccs cxpcndcd.
Garficld Wcston- grant funding proi.idcd for capital. Thc dcprcciation cost is sho￿1 in rcsourccs cxpcndcd:
windp0￿-.cr Community. Fund - grant funding proi'idcd for capital. Thc dcprcciation cost 15 shoiNI] in rcsourccs
expended.
Circular Econom). fund
-l-he fund li.as open io local auihorities to help 11.'ales Shift loi%"ards a circular
econom). driving further increases in rec!"cling and decarbonisalion. In 2021122. this included the donation of
Iwo vehicles to the charity.. -l-he depreciaLion cosl is shoiin in resources expended.
Pcn Bry'n Ocr- Thc funding M'as rcccivcd to support comtnunity" groups ii.ho offcr I'ital scTriccs.
Page 42

Groundwork Wales
Iyotes to the Financial Statements for the Year Ended 31 March 2024
19 Analysis of Det assets between funds
Group
Total funds at
31 March
2024
Unrestricted funds
General
Designated
Restricted
funds
Tangible fixed assets
CutTLnt a55cts
Current liabilities
29.944
871.007
1201.1361
153.4)6
14.770
183,380
1.009,599
(201.1361
12).822
Total net assets
699.8 li
12).822
168.206
991.843
Total funds at
31 March
2023
Unreslrieted funds
Genergl
Designated
Restricted
funds
Intangible fi.xed asse
Tangiblc fixcd asscts
Current assets
1.281
168.80)
14.125
1.281
209.430
40.62)
910.934
126J.555)
188.334
1.113.393
[263.555)
Curreni liabilities
Total nct a5SCt5
688.004
188.334
184.211
1.060.549
Charity
Total funds at
31 March
2024
[Inrestrieted funds
General
Designated
Restrieted
funds
Tangible fixed assets
Curreni assets
CutTcnt liabilities
29.944
29,944
796,22)
1167,9071
14.125
(167.907)
Total net assets
i66.ilM)
77.637
14.12)
658.262
Total funds at
31 ￿larCh
2023
Unrestrieted funds
Geueral
Designated
Restrieted
funds
"l angible fi.xed assets
Currcnt asscts
Current liabilities
40.418
767.271
1190.441)
40.418
900,027
1190,4411
118.6Jl
14.125
Total net assets
617.248
14.125
7iO.004

Groundwork Wales
Iyotes to the Financial Statements for the Year Ended 31 March 2024
20 Analysis of net funds
Group
At l April
2023
Fillancing cash
flows
At 31 March
2024
Cash at bank and in hand
852.054
137.i95)
814.459
Net debt
852.Oi4
At l April
2022
(37.i95)
814.459
At 31 March
2023
Fillancing cash
flows
Cash at bank and in hand
731.713
120.341
852.054
Net debt
7Jl.71J
120,J41
8)2.054
Page 44