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← Torfaen Voluntary Alliance

2025-03-31-accounts

REGISTERED COMPANY NUMBER: 04603713 (England and Wales) REGISTERED CHARITY NUMBER: 1097079

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

TORFAEN VOLUNTARY ALLIANCE (TVA)

Bevan Buckland LLP Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA

TORFAEN VOLUNTARY ALLIANCE (TVA)

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Page
Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Cash Flow Statement 7
Notes to the Cash Flow Statement 8
Notes to the Financial Statements 9 to 18
Detailed Statement of Financial Activities 19 to 20

TORFAEN VOLUNTARY ALLIANCE (TVA)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Introduction

As the County Voluntary Council (CVC) for the local area of Torfaen, TVA is a member of Wales Council for Voluntary Action (WCVA) which, together with the other 18 CVC's across Wales, are now known collectively as Third Sector Support Wales - https://thirdsectorsupport.wales/

This report highlights the activities, achievements, and challenges faced by the Torfaen Voluntary Alliance (TVA) during the fiscal year ending 31st March 2025. It reflects our continued commitment to supporting the community and voluntary sector in Torfaen and outlines our strategic priorities and accomplishments. TVA remains resilient, adaptable, and focused on creating positive change for the communities we serve.

TVA Governance

In 2025, TVA continued to operate under robust governance practices, ensuring transparency and accountability in all our activities. Our Board of Trustees meets bi-monthly to review progress, provide strategic guidance, and make informed decisions to support the organisation's mission. Additionally, meeting bi-monthly are the two key sub-groups: the Finance & Premises Committee and the Staffing & HR Committee. These sub-groups provide focused oversight and in-depth discussions on critical areas.

We continue to review the composition of our board as vacancies arise, and we welcomed new Trustees who brought fresh perspectives and valuable expertise to our Board. We are still working with the TVA Strategy that was launched last year, continuing to provide a clear roadmap for our future direction and goals.

Membership

Maintaining an active and engaged membership remains a key focus for TVA. While some member organisations closed during the year, overall membership increased from 413 to 433 as of 31 March 2025. This reflects the continued value TVA provides in supporting and strengthening the community and voluntary sector in Torfaen. Additionally, TVA recorded 842 interactions during the year. Due to team capacity, not all interactions were captured; however, we continue to review and strengthen our engagement approaches to ensure members are well supported.

Strategic Priorities and Achievements

1. Volunteering:

With the benefit of additional funding, TVA has been able to expand its volunteering support offer across Torfaen, capturing over 16,000 hours of volunteering during the year. This enhanced capacity has enabled us to strengthen volunteer engagement and better support both volunteers and organisations. Key achievements include:

2. Funding:

TVA continued to play a vital role in supporting organisations to access and secure financial resources to deliver for their communities across Torfaen. Key achievements include:

3. Governance

Governance improvements have remained central to TVA's strategic development, helping to ensure transparency, accountability, and alignment with sector-wide best practice. Key achievements include:

Page 1

TORFAEN VOLUNTARY ALLIANCE (TVA)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

4. Engagement

TVA has continued to foster collaboration and active involvement across the community and voluntary sector, strengthening connections and amplifying collective voice. Key highlights include:

5. Project Development

TVA has supported the development and delivery of key projects that build capacity, strengthen community infrastructure, and respond to local need across Torfaen. These include:

Challenges and Next Steps

While TVA has made significant progress, a number of challenges remain:

Looking Ahead: 2025-26

As we look ahead to 2025-26, TVA will build on recent successes while addressing ongoing challenges to deliver effectively against the 2024-2029 Strategy. Our key priorities for the year ahead include:

TVA remains committed to supporting and strengthening the community and voluntary sector in Torfaen. With the continued dedication of our Trustees and staff, we are well placed to respond to challenges and seize opportunities in the year ahead.

Page 2

TORFAEN VOLUNTARY ALLIANCE (TVA)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Acknowledgements We would like to thank our Trustees, staff, members, partners, and funders for their continued commitment and support. Their contributions have been central to TVA's work and to making a meaningful difference for communities acros s Torfaen.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

04603713 (England and Wales)

Registered Charity number 1097079

Registered office

Portland Buildings Commercial Street Pontypool Torfaen NP4 6JS

Trustees

Mrs E S Davies Mcintosh D W Henson Cllr R Clark Secretary J E Killick N W Gregory (appointed 22.5.24) S O'Dwyer A S Brunt Mrs P J Kennedy D Williams B Holroyd

Company Secretary Cllr R Clark

Independent Examiner

Bevan Buckland LLP Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA

31/01/2026 Approved by order of the board of trustees on ............................................. and signed on its behalf by:

........................................................................ ~~——~~

D Williams - Chair

Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF TORFAEN VOLUNTARY ALLIANCE (TVA)

Independent examiner's report to the trustees of Torfaen Voluntary Alliance (TVA) ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  3. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Llinos Williams

Bevan Buckland LLP Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA Date: .............................................31/01/2026

Page 4

TORFAEN VOLUNTARY ALLIANCE (TVA)

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
250,999
Charitable activities
5
General support services
24,621
Other trading activities
3
14,228
Investment income
4
145
Other income
54,222
Total
344,215
EXPENDITURE ON
Charitable activities
6
General support services
207,509
Volunteering
40,312
Projects
35,794
Partnership development
20,995
Total
304,610
NET INCOME/(EXPENDITURE)
39,605
RECONCILIATION OF FUNDS
Total funds brought forward
294,751
TOTAL FUNDS CARRIED FORWARD
334,356		 Restricted
funds
£
392,735
-
5,247
-
-
397,982
-
623
287,973
40,100
328,696
69,286
30,588
99,874		 2025
2024
Total
Total
funds
funds
as restated
£
£
643,734
491,197
24,621
13,845
19,475
31,684
145
510
54,222
4,687
742,197
541,923
207,509
181,753
40,935
84,555
323,767
246,445
61,095
54,114
633,306
566,867
108,891
(24,944)
325,339
350,283
434,230
325,339

The notes form part of these financial statements

Page 5

TORFAEN VOLUNTARY ALLIANCE (TVA)

BALANCE SHEET 31 MARCH 2025

2025 2024
Unrestricted Restricted Total Total
funds funds funds funds
as restated
Notes £ £ £ £
CURRENT ASSETS
Debtors 13 33,244 24,462 57,706 28,596
Cash at bank and in hand 334,710 478,189 812,899 311,995
367,954 502,651 870,605 340,591
CREDITORS
Amounts falling due within one year 14 (33,600) (402,775) (436,375) (15,252)
NET CURRENT ASSETS 334,354 99,876 434,230 325,339
TOTAL ASSETS LESS CURRENT LIABILITIES TOTAL ASSETS LESS CURRENT LIABILITIES 334,354 99,876 434,230 325,339
NET ASSETS 334,354 99,876 434,230 325,339
FUNDS 16
Unrestricted funds 334,354 294,751
Restricted funds 99,876 30,588
TOTAL FUNDS 434,230 325,339

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 31/01/2026

............................................. DAW HYonson D Henson - Treasurer

The notes form part of these financial statements

Page 6

TORFAEN VOLUNTARY ALLIANCE (TVA)

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by/(used in) operating activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2025
2024
as restated
£
£
500,904
(38,288)
500,904
(38,288)
500,904
(38,288)
311,995
350,283
812,899
311,995

The notes form part of these financial statements

Page 7

TORFAEN VOLUNTARY ALLIANCE (TVA)

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025

1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

ACTIVITIES
2025 2024
as restated
£ £
Net income/(expenditure) for the reporting period (as per the
Statement of Financial Activities) 108,891 (24,944)
Adjustments for:
Increase in debtors (29,110) (28,596)
Increase in creditors 421,123 15,252
Net cash provided by/(used in) operations 500,904 (38,288)
ANALYSIS OF CHANGES IN NET FUNDS
At 1.4.24 Cash flow At 31.3.25
£ £ £
Net cash
Cash at bank and in hand 311,995 500,904 812,899
311,995 500,904 812,899
Total 311,995 500,904 812,899

2. ANALYSIS OF CHANGES IN NET FUNDS

The notes form part of these financial statements

Page 8

TORFAEN VOLUNTARY ALLIANCE (TVA)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

There have been no material departures from Financial Reporting Standard 102.

There financial statements have been prepared in compliance with SORP (FRS 102).

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.This includes capital grants.

Donations and legacies are accounted as incoming resources on upon receipt or when receipt is probable and amount receivable can be estimated with sufficient accuracy.

Income from charitable activities includes income received under contract or where entitlement to grant funding is subject to specific performance conditions. This income is recognised where there is entitlement, when the receipt is probable and the amount can be measured reliably. Income is deferred when the amounts received are in advance of the performance of the service or event to which they relate.

Investment income is recognised on a receivable basis.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature to support them.

Support costs are those costs that, whilst necessary to deliver an activity, do not themselves produce or constitute the output of the charitable activity. This includes governance costs which are those costs associated with meeting the constitutional and statutory requirements of the charity.

Expenditure includes VAT as the charity is not VAT registered.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Redundancy or termination payments

Redundancy costs arising from periodic reviews of staff levels are charged against profit in the year in which employees leave the charity.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Going Concern

The trustees are satisfied that, based on the charity's free reserves position, it remains appropriate to prepare the financial statements on a going concern basis. The trustees will continue to take steps to manage any financial pressures, and in their view no adjustments or additional disclosures are required at this time.

Agency Grants

Where the charity receives funds from a third party for the purpose of distributing grants to other organisations and does not have discretion over how those funds are applied, the charity acts as an agent. In such cases, the funds do not represent income of the charity and are therefore excluded from the Statement of Financial Activities (SoFA).

Page 9

continued...

TORFAEN VOLUNTARY ALLIANCE (TVA)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

1. ACCOUNTING POLICIES - continued

Expenditure

Amounts received under these arrangements are recognised as a liability (“Funds held for distribution”) on the balance sheet until they are paid out to the intended recipients. Payments made to beneficiaries reduce this liability.

Only any administration or management fee earned by the charity for administering these funds is recognised as income in the SoFA.

Allocation and apportionment of costs

All costs are allocated between the expenditure categories on a basis designed to reflect the use of the resource.

Costs relating to a particular activity are allocated directly; others are apportioned on an appropriate basis.

Operating lease commitments

Rentals applicable to operating leases where substantially all of the benefits and risks of the ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

The benefits of lease incentives are recognised in the profit and loss account over the lease period.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their resources as appropriate.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Basis of recognition of liabilities

Liabilities are recognised as soon as there is a legal or constructive obligation which commits the charity to the expenditure.

Funds Held as Agent

TVA administers payroll services for member organisations as an agent. These funds remain under the control of the member organisations and are not included in TVA's accounts. At 31 March 2025, TVA held £17,887 on behalf of members (2024: £26,975). During the year, funds received as agent totalled £1,434,603 and payments made on behalf of members were £1,473,691. TVA earned £5,950 in payroll service fees.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Page 10

continued...

TORFAEN VOLUNTARY ALLIANCE (TVA)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

2. DONATIONS AND LEGACIES

2. DONATIONS AND LEGACIES
2025 2024
as restated
£ £
Grants 643,734 491,197
Grants received, included in the above, are as follows:
2025 2024
as restated
£ £
Wales Council for Voluntary Action - Core 224,329 215,719
Wales Council for Voluntary Action - YLG - 6,650
Wales Council for Voluntary Action - Comic Relief Community Fund - 1,500
Torfaen County Borough Council - Core 15,753 15,753
Torfaen County Borough Council - Opening doors - 22,727
Torfaen County Borough Council - SPF Volunteering - 51,000
Torfaen County Borough Council - Youth Work APP - 20,786
Torfaen County Borough Council - CT - Engagement - 16,962
Local Projects - TSSW 10,917 -
Local Projects - Friends of Bruschal 2,666 -
Local Projects - Shared Prosperity Fund - Volunteering 48,377 -
Local Projects - Youth & Community Partnership 18,786 -
Local Projects - Connecting Torfaen: Opening Doors 64,076 -
Local Projects - Connecting Torfaen: Engagement 105,788 -
Local Projects - CVD Community Health Event 10,000 -
Local Projects - PB Communities Choice 92,942 -
Local Projects - CTA Transport Scheme 10,000 -
GRPB - Integrated Care Fund - small grants fund - 100,000
Aneurin Bevan Health Board - Building Grant Scheme 40,100 40,100
643,734 491,197
3. OTHER TRADING ACTIVITIES
2025 2024
as restated
£ £
Event support income 5,247 18,789
Rental income 14,228 12,895
19,475 31,684
4. INVESTMENT INCOME
2025 2024
as restated
£ £
Deposit account income 145 510

Page 11

continued...

TORFAEN VOLUNTARY ALLIANCE (TVA)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

5. INCOME FROM CHARITABLE ACTIVITIES

Activity
Member Services
General support services
CHARITABLE ACTIVITIES COSTS
General support services
Volunteering
Projects
Partnership development
GRANTS PAYABLE
Volunteering
Projects		 Direct
Costs
£
186,513
623
322,087
40,100
549,323		 2025
2024
as restated
£
£
24,621
13,845
Support
costs (see
note 8)
Totals
£
£
20,996
207,509
40,312
40,935
1,680
323,767
20,995
61,095
83,983
633,306
2025
2024
as restated
£
£
-
6,100
-
147,312
-
153,412

6. CHARITABLE ACTIVITIES COSTS

7. GRANTS PAYABLE

8. SUPPORT COSTS

Management
£
General support services
13,599
Volunteering
26,111
Projects
1,088
Partnership development
13,599
54,397		 Finance
£
160
304
13
158
635		 Support
costs
£
7,237
13,897
579
7,238
28,951		 Totals
£
20,996
40,312
1,680
20,995
83,983

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.

10. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs		 2025
2024
as restated
£
£
365,992
252,014
25,376
18,762
23,619
19,866
414,987
290,642

Page 12

continued...

TORFAEN VOLUNTARY ALLIANCE (TVA)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

10. STAFF COSTS - continued

The average monthly number of employees during the year was as follows:

Average monthly number of employees
No employees received emoluments in excess of £60,000.
11.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
231,472
Charitable activities
General support services
13,845
Other trading activities
12,895
Investment income
510
Other income
4,687
Total
263,409
EXPENDITURE ON
Charitable activities
General support services
181,753
Volunteering
26,905
Projects
1,121
Partnership development
14,014
Total
223,793
NET INCOME/(EXPENDITURE)
39,616
RECONCILIATION OF FUNDS
Total funds brought forward
255,135
TOTAL FUNDS CARRIED FORWARD
294,751		 2025
2024
as restated
12
10
Restricted
Total
funds
funds
as restated
£
£
259,725
491,197
-
13,845
18,789
31,684
-
510
-
4,687
278,514
541,923
-
181,753
57,650
84,555
245,324
246,445
40,100
54,114
343,074
566,867
(64,560)
(24,944)
95,148
350,283
30,588
325,339		 2025
2024
as restated
12
10
Restricted
Total
funds
funds
as restated
£
£
259,725
491,197
-
13,845
18,789
31,684
-
510
-
4,687
278,514
541,923
-
181,753
57,650
84,555
245,324
246,445
40,100
54,114
343,074
566,867
(64,560)
(24,944)
95,148
350,283
30,588
325,339
541,923
181,753
84,555
246,445
54,114
566,867
(24,944)
350,283
325,339

12.

PRIOR YEAR ADJUSTMENT

A prior period error was identified relating to the misclassification of members funds. The correction results in a reclassification between creditors and cash at bank, with no impact on total reserves as at 31 March 2024.

Summary of prior year accounting impact £
Reduction in Bank - members fund bank
 (26,975)
Reduction in creditor - members fund balance 26,975
-

Page 13

continued...

TORFAEN VOLUNTARY ALLIANCE (TVA)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Other debtors
Prepayments and accrued income
14.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Other creditors
Pension Fund
Funds held for distribution
Accruals and deferred income		 2025
as
£
2,900
34,214
20,592
57,706
2025
as
£
14,898
6,261
22,744
388,976
3,496
436,375		 2025
as
£
2,900
34,214
20,592
57,706
2025
as
£
14,898
6,261
22,744
388,976
3,496
436,375		 2024
restated
£
10,566
-
18,030
28,596
2024
restated
£
2,398
6,051
3,287
-
3,516
15,252

15. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year
Between one and five years
MOVEMENT IN FUNDS
Unrestricted funds
General fund
Restricted funds
Youth Grant Scheme
Integrated Care Fund - small grants fund
TCV Awards
Connecting Torfaen: Opening Doors
Youth Work Apprenticeship Partnership
CVD Community Health Event
PB Communities Choice
CTA Transport Scheme
TOTAL FUNDS		 At 1.4.24
£
294,751
623
686
6,266
9,354
13,659
-
-
-
30,588
325,339		 2025
2024
as restated
£
£
20,500
16,000
102,500
-
123,000
16,000
Net
movement
At
in funds
31.3.25
£
£
39,603
334,354
(623)
-
(686)
-
(6,266)
-
14,853
24,207
1,886
15,545
8,164
8,164
41,960
41,960
10,000
10,000
69,288
99,876
108,891
434,230

16. MOVEMENT IN FUNDS

Page 14

continued...

TORFAEN VOLUNTARY ALLIANCE (TVA)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

16. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Citizens AdviceTorfaen
Restricted funds
Youth Grant Scheme
Integrated Care Fund - small grants fund
TCV Awards
Connecting Torfaen: Opening Doors
Youth Work Apprenticeship Partnership
Building Strong Bridges
Connecting Torfaen: Engagement
FBS - Friends of Bruschal
CVD Community Health Event
PB Communities Choice
CTA Transport Scheme
SPF Volunteering
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
Restricted funds
Youth Grant Scheme
Integrated Care Fund - small grants fund
TCV Awards
Connecting Torfaen: Opening Doors
Comic Relief Community Fund
Youth Work Apprenticeship Partnership
TOTAL FUNDS		 Incoming
resources
£
310,551
33,664
344,215
-
-
5,250
64,075
18,786
40,100
105,787
2,666
10,000
92,941
10,000
48,377
397,982
742,197
At 1.4.23
£
255,135
623
40,011
1,343
50,636
2,535
-
95,148
350,283		 Resources
Movement
expended
in funds
£
£
(270,948)
39,603
(33,664)
-
(304,612)
39,603
(623)
(623)
(686)
(686)
(11,516)
(6,266)
(49,222)
14,853
(16,900)
1,886
(40,100)
-
(105,787)
-
(2,666)
-
(1,836)
8,164
(50,981)
41,960
-
10,000
(48,377)
-
(328,694)
69,288
(633,306)
108,891
Net
movement
At
in funds
31.3.24
£
£
39,616
294,751
-
623
(39,325)
686
4,923
6,266
(41,282)
9,354
(2,535)
-
13,659
13,659
(64,560)
30,588
(24,944)
325,339

Page 15

continued...

TORFAEN VOLUNTARY ALLIANCE (TVA)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

16. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 263,409 (223,793) 39,616
Restricted funds
Youth Grant Scheme 6,650 (6,650) -
Integrated Care Fund - small grants fund 100,000 (139,325) (39,325)
TCV Awards 18,789 (13,866) 4,923
Connecting Torfaen: Opening Doors 22,727 (64,009) (41,282)
Comic Relief Community Fund 1,500 (4,035) (2,535)
Youth Work Apprenticeship Partnership 20,786 (7,127) 13,659
Building Strong Bridges 40,100 (40,100) -
Opportunities 51,000 (51,000) -
Connecting Torfaen: Engagement 16,962 (16,962) -
278,514 (343,074) (64,560)
TOTAL FUNDS 541,923 (566,867) (24,944)

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Restricted funds
Youth Grant Scheme
Integrated Care Fund - small grants fund
TCV Awards
Connecting Torfaen: Opening Doors
Comic Relief Community Fund
Youth Work Apprenticeship Partnership
CVD Community Health Event
PB Communities Choice
CTA Transport Scheme
TOTAL FUNDS		 At 1.4.23
£
255,135
623
40,011
1,343
50,636
2,535
-
-
-
-
95,148
350,283		 Net
movement
in funds
£
79,219
(623)
(40,011)
(1,343)
(26,429)
(2,535)
15,545
8,164
41,960
10,000
4,728
83,947		 At
31.3.25
£
334,354
-
-
-
24,207
-
15,545
8,164
41,960
10,000
99,876
434,230

Page 16

continued...

TORFAEN VOLUNTARY ALLIANCE (TVA)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

16. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 573,960 (494,741) 79,219
Citizens AdviceTorfaen 33,664 (33,664) -
607,624 (528,405) 79,219
Restricted funds
Youth Grant Scheme 6,650 (7,273) (623)
Integrated Care Fund - small grants fund 100,000 (140,011) (40,011)
TCV Awards 24,039 (25,382) (1,343)
Connecting Torfaen: Opening Doors 86,802 (113,231) (26,429)
Comic Relief Community Fund 1,500 (4,035) (2,535)
Youth Work Apprenticeship Partnership 39,572 (24,027) 15,545
Building Strong Bridges 80,200 (80,200) -
Opportunities 51,000 (51,000) -
Connecting Torfaen: Engagement 122,749 (122,749) -
FBS - Friends of Bruschal 2,666 (2,666) -
CVD Community Health Event 10,000 (1,836) 8,164
PB Communities Choice 92,941 (50,981) 41,960
CTA Transport Scheme 10,000 - 10,000
SPF Volunteering 48,377 (48,377) -
676,496 (671,768) 4,728
TOTAL FUNDS 1,284,120 (1,200,173) 83,947

The Youth Grant Scheme provides grants to youth projects with the assessments being made by a youth panel. The scheme is funded through the WCVA.

Building Strong Bridges is funded by the Aneurin Bevan University Health Board in order to continue the Welsh Government initiative to strengthen partnership working between the sector and the NHS.

Regional Integrated Fund / Integrated Care fund - Small grants is funded by the Gwent Regional Partnership Board.

Connecting Torfaen - Opening Doors - funding from ABuHB to host an Opening Doors Officer that will support community-led venues and hubs across the borough that offer opportunities for people to connect with each other and with services. In doing so, the post will contribute to Torfaen's strategy to tackle loneliness and isolation by supporting organisations that enable people to access activities and services that support their social, health and wellbeing needs with further funding from TCBC through the W.Gov Connected Communities Grant.

TCV Awards fund - a partnership recognition scheme to highlight the contribution that volunteers, and community organisations provide within Torfaen. Hosted by TVA with representation from public, private and within Torfaen.

Comic Relief Community Fund - supporting community led organisations to deliver projects within strategic themes.

Shared Prosperity Fund - Volunteering Opportunities - received via Torfaen County Borough Council, allocated UK Shared Prosperity Fund in respect of projects to be undertaken within the geographical area to support volunteering opportunities, The funding covers the employment of a Third Sector Development Officer and associated outcomes and outputs.

Youth Work Apprenticeship Partnership - received via Torfaen County Borough Council for Torfaen Youth Service (TYS) and Torfaen Voluntary Alliance (tva) to embark on the delivery of a youth work apprenticeship programme funded by TYS and hosted by TVA. The apprenticeship programme will offer successful applicants the opportunity to experience both youth work and community-based provision.

Page 17

continued...

TORFAEN VOLUNTARY ALLIANCE (TVA)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

16. MOVEMENT IN FUNDS - continued

Connecting Torfaen Engagement - funding via Torfaen County Borough Council to Champion Connect Torfaen as the central platform for the communities of Torfaen, ensuring it is maintained and widely promoted, in partnership with Torfaen Employability Team and Adult Community Learning Team developing digital workshops that will improve the knowledge and skills in navigating the platform. This is developed through providing face to face support to communities to increase their digital skills.

Friends of the Bruchsal Society: An employment initiative aimed at promoting and growing the membership of Friends of Bruchsal and twining opportunities. Providing network opportunities for like-minded individuals, organisations and companies. Role of TVA is to employ an appropriate person to carry out the coordination and management of the project.

CVD Community Events: Funded by Regional Partnership Board in partnership with Aneurin Bevan Health Board, this project aims to address undiagnosed CVD in these communities and overcome behavioural and attitudinal barriers to treatment and support. We provided outreach CVD risk assessment and wellbeing events across Torfaen, targeting adults in hard-to-reach communities, including gypsy traveller and Nepalese communities, carers, and residents in deprived wards. The project leveraged community engagement to drive and sustain health interventions.

PB Communities Choice: Multiply is funded by the SPF fund with TCBC and the communities Choice Grant was funded through Aneurin Bevan. The aim of the Connecting Torfaen Participatory Budget is to: Strengthen the community engagement in Blaenavon, aligned to the existing Healthy Blaenavon Network Act as a catalyst for wider community engagement in Thornhill, Trevethin, St Cadocs & Penygarn aligned to emerging partner and community networks. Empower local people with an opportunity to make decisions around how funding is allocated to their community. Improve local population health and wellbeing by enabling projects meeting local needs to be implemented.

Citizens Advice Torfaen: We share the premises with CAT so the funds they send is to cover their costs of the lease and utility.

TSSW Local Projects: these grants are funded by Welsh Government to provide local projects such as Child Poverty Grant to run the survey throughout the community on behalf of Welsh Gov. to gain the information for them.

CTA Transport Scheme: Funded by the Community Transport Association is a transport to health project for the North of Torfaen. The North Torfaen Community Car Scheme to deliver journeys to health and wellbeing across the Aneurin Bevan University Health Board footprint.

17. EMPLOYEE BENEFIT OBLIGATIONS

The charity operates a defined contribution pension scheme and makes payments to individuals pension schemes. The assets of the all schemes are held separately from those of the charity in independently administered funds. The pension cost charge represents contributions paid by the charity to the funds and amounted to £23,619 (2024: £19,866). Contributions outstanding at the year end amounted to £22,744 (2024: £3,287).

18. RELATED PARTY DISCLOSURES

The total key management personnel remuneration benefits paid during the year was £142,135 (2024: £110,309).

During the year the charity shared office premises with another charitable organisation, with a common trustee. Rental income of £14,228 was received from this organisation along with associated utility contributions of £16,971.74.

There were no other related party transactions for the year ended 31 March 2025 or the year ended 31 March 2024 which required disclosure.

Page 18

TORFAEN VOLUNTARY ALLIANCE (TVA)

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

INCOME AND ENDOWMENTS
Donations and legacies
Grants
Other trading activities
Event support income
Rental income
Investment income
Deposit account income
Charitable activities
Member Services
Other income
Other income
Management & Support Fees
Total incoming resources
EXPENDITURE
Charitable activities
Wages
Social security
Pensions
Insurance
Telephone
Postage and stationery
Advertising
Sundries
Professional fees
Computer costs
Repairs and Maintenance
Project costs
Training
Travel and subsistence
Core Support and Management
Accommodation - lease
Accommodation - Utilities
Grants to institutions
Support costs
Management
Wages
Insurance
Telephone
Postage and stationery
Sundries
Carried forward		 2025
2024
as restated
£
£
643,734
491,197
5,247
18,789
14,228
12,895
19,475
31,684
145
510
24,621
13,845
-
4,687
54,222
-
54,222
4,687
742,197
541,923
289,134
202,181
25,376
18,762
23,619
19,866
4,379
3,700
1,686
1,510
1,182
898
28,496
10,493
7,826
4,932
3,444
12,448
22,775
21,501
6,468
3,449
59,256
21,448
1,776
1,255
2,602
2,093
26,371
32,865
17,430
-
27,503
-
-
153,412
549,323
510,813
51,239
33,093
89
76
89
79
69
47
214
68
51,700
33,363		 2025
2024
as restated
£
£
643,734
491,197
5,247
18,789
14,228
12,895
19,475
31,684
145
510
24,621
13,845
-
4,687
54,222
-
54,222
4,687
742,197
541,923
289,134
202,181
25,376
18,762
23,619
19,866
4,379
3,700
1,686
1,510
1,182
898
28,496
10,493
7,826
4,932
3,444
12,448
22,775
21,501
6,468
3,449
59,256
21,448
1,776
1,255
2,602
2,093
26,371
32,865
17,430
-
27,503
-
-
153,412
549,323
510,813
51,239
33,093
89
76
89
79
69
47
214
68
51,700
33,363
31,684
510
13,845
4,687
-
4,687
541,923
202,181
18,762
19,866
3,700
1,510
898
10,493
4,932
12,448
21,501
3,449
21,448
1,255
2,093
32,865
-
-
153,412
510,813
33,093
76
79
47
68
33,363

This page does not form part of the statutory financial statements

Page 19

TORFAEN VOLUNTARY ALLIANCE (TVA)

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

Management
Brought forward
Computer costs
Travel and subsistence
Core Support and Management
Finance
Bank charges
Support costs
Wages
Accountancy and legal fees
Total resources expended
Net income/(expenditure)		 2025
2024
as restated
£
£
51,700
33,363
949
896
137
110
1,611
1,016
54,397
35,385
635
412
25,619
16,740
3,332
3,517
28,951
20,257
633,306
566,867
108,891
(24,944)

This page does not form part of the statutory financial statements

Page 20