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2022-12-31-accounts

Page
Report ofthe Trustees 1 to 11
Report ofthe Independent
Auditors		 12 to 14
Statement ofFinancial Activities 15
Balance Sheet 16
Cash Flow Statement 17
Notes to the Cash Flow Statement 18
Notes to the Financial Statements 19 Io 26

FUTURE PLANS FUTURE PLANS
Priorities for 2023
What Key objectives
Fundraising and 1.Deliver 40th Anniversary
Programme
ofactivities,		 including a fundraising
Marketing appeal.
2.Complete
preparations
for LATCH's Ambassadors'		 programme, including new
policies and procedures
and commence
rolling out the programme.
3.Grow social media presence and deliver quality content.
4. Improve content on the current website,
including		 regularity and type ofcontent.
Governance and 5.Approval
and implementation
ofnew Policies' Framework		 and Map in place,
Compliance: Policies with the majority of new policies required,
completed		 by September 2023.
6. Implement
Data Protection
Audit recommendations.
7.Continue
programme
ofBoard development.
8. Develop the charity's
risks management.
Organisation
development and 9.Project plan and commence Phase 2 Organisation Development (strategic
strategy review).
Finance Management 10.New financial
policies and procedures
produced,		 aligned with the
Organisational
Policies Framework.
11.Continue
to deliver clean financial
audit for 2022.
12.Continue
streamlining
and improving
financial processes.
13.Prepare a budget for 2024, including
a new Fundraising		 Plan.
Infrastructure 14.Complete
mapping
of digital systems
and plan the introduction		 ofnew
Customer
Relationship
Management
database
software.
15.Complete
implementation
of interim
staffing structure (Phase		 1 Organisation
Development
Project).
External Affairs and
Policy 16.Deliver a Reception event at the Senedd to mark 40th Anniversary of LATCH.
17.Appoint and induct new Patrons to the charity.
18.Develop new external connections
for the charity		 and build relations with
existing stakeholders.

2022 2021
Unrestricted Restricted Total Total
Notes funds
6		 funds
6		 funds
6		 fundsf
INCOME AND ENDOWMENTS FROM
Donations and legacies 2 668,954 90,000 758,954 395,743
Investment
income
Other income		 3 123,811
8,603		 123,811
8,603		 119,993
4,847
Total 801,368 90,000 891,368 520,583
EXPENDITURE ON
Raising funds 4 36,882 36,882 28,803
Charitable
activities
Services to patients 792,473 18,599 811,072 1,856,027
LATCHmosphere
maintenance		 14,100
Total 829,355 18,599 847,954 1,898,930
Net gains/(losses)
on investments		 (331,868) (331,868) 368,327
NET INCOME/(EXPENDITURE) (359,855) 71,401 (288,454) (1,010,020)
RECONCILIATION
OF FUNDS
Total funds brought
forward		 3,828,188 18,599 3,846,787 4,856,807
TOTAL FUNDS CARRIED FORWARD 3,468,333 90,000 3,558,333 3,846,787

2&)22 2021
Notes 5
FIXEDASSETS
Tangible assets 12 7 7
Investments 13 2,898,137 3,230,005
2,89l),144 3,230,012
CURRENT ASSETS
Debtors 14 157,225 49,503
Cash at bank 64II,241 671,107
803,466 720,610
CREDITORS
Amounts
falling due within one year		 15 (143,277) (103,835)
NET CURRENT ASSETS 660,189 616,775
TOTAL ASSETS LESSCURRENT
LIABILITIES 3,558,333 3,846,787
NET ASSETS 3,558,333 3,846,787
FUNDS 18
Unrestricted
funds		 3,468,333 3,828,188
Restricted
funds		 90,000 18,599
TOTAL FUNDS 3,558,333 3,846,787

2022 2021
Notes 6 F
Cash flows from operating activities
Cash generated
from operations		 1 (148,677) (1,646,137)
Net cash used
in		 operating activities (148,677) (1,646,137)
Cash flows from investing activities
Purchase offixed asset investments
Sale offixed asset investments		 (3,429,578)
4,620,623
Interest received 1,432 2,132
Dividends
received		 122,379 117,861
Net cash provided by investing
activities		 123,811 1,311,038
Change
in cash		 and cash equivalents
in the reporting period (24,866) (335,099)
Cash and cash equivalents at the
beginning
ofthe		 reporting period 671,107 1,006,206
Cash and cash equivalents at the end
ofthe reporting period 646,241 671,107

RECONCILIATION
OF NET EXPE
ACTIVITIES		 NDITURE TO NET CASH FLOW F ROM OP' .RATIN G
2022 2021
Net expenditure
forthe reporting		 period (as per the Statement
ofFinancial Activities) (28I'.454) (1,010,020)
Adjustments
for:
Losses/(gain)
on investments		 331 868 (368,327)
Interest received (1,432) (2,132)
Dividends
received		 (122,379) (117,861)
Increase
in debtors		 (107,/22) (2,376)
Increase/(decrease)
in creditors		 39,442 (145,421)
Net cash used in operations (148,677) (1,646,137)

ANALYSIS OF CHANGES
IN NET		 FUNDS
At 1.1.22
f		 Cash flow
f		 At31.12.22
8
Net cash
Cash at bank 671,107 (24,866) 646,241
671,107 (24,866) 646,241
Total 671,107 (24,866) 646,241

2022 2021
Donations and fund raising events - branch 191,075 113,108
Donations and fund raising events - central 313,541 248,791
Bereavements &legacies 153,728 12,276
Sale ofpromotional items 1,467 1,969
Grant income 99,143 19,599
758,954 395,743
INVESTMENT INCOME
2022 2021
E
Dividends and fixed interest securities 122,379 117,861
Interest on cash deposits 1,432 2,132
123,811 119,993
4. RAISING FUNDS
Raising donations and legacies
2022 2021
6
Fundraising
activities		 29,457 22,524
Investment
management		 costs
2022 2021
Investment
management		 fees 7,425 6,279
Aggregate
amounts		 36,882 28,803
5. CHARITABLE ACTIVITIES COSTS
Direct Support
Costs (see costs (see
note 6) note 7) Totals
6 6
Services to patients 686,293 124,779 811,072
6. DIRECT COSTS OF CHARITABLE ACTIVITIES
2022
F		 2021
f
Grants and comfort payments 476,501 381,620
Funded posts 131,307 156,929
Capital contribution Cardiff and Vale NHS Trust 73,570 1,200,369
Hospital equipment 4,915 2,844
LATCHmosphere 14,100
686,293 1,755,862
7. SUPPORT COSTS
Governance
Management Finance costs Totals
6 6 6 6
Services to patients 91,687 663 32,429 124,779

Net income/(expenditure) is stated after charging/(crediting): is stated after charging/(crediting): is stated after charging/(crediting): is stated after charging/(crediting):
2022 2021
F
Auditors'
remuneration		 5,760 5,520
Auditors'
remuneration		 for non audit work 2,400 1,890
TRUSTEES' RENIUNERATION AND BENEFITS
There were no trustees' remuneration or other beneffts for the year ended 31 December 2022 nor f
the year ended 31 December 2021.
Trustees' expenses
Trustees
were
reimbursed		 expenses of 8474 (2021: 8161) during the year incurred wholly
an
necessarily
in the performance		 ofcharitable activities.
STAFF COSTS
There were no staff costs for the year ended 31 December 2022 nor for the year ended 31 Decembe
2021.
No employees
received		 emoluments
in		 excess ofF60,000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
funds funds funds
8
INCOME AND ENDOWMENTS FROM
Donations
and legacies		 377,144 18,599 395,743
Investment
income		 119,993 119,993
Other income 4,847 4,847
Total 501,984 18,599 520,583
EXPENDITURE ON
Raising funds 28,803 28,803
Charitable
activities
Services to patients 1,856,027 1,856,027
LATCHmosphere
maintenance		 14,100 14,100
Total 1,898,930 1,898,930
Net gains on investments 368,327 368,327
NET INCOME/(EXPENDITURE) (1,028,619) 18,599 (1,010,020)
11. COMPARATIVES FOR THE STATEMENT COMPARATIVES FOR THE STATEMENT OF FINANCIAL OF FINANCIAL ACTIVITIES -continued ACTIVITIES -continued
Unrestricted Restricted Total
funds funds funds
5 5
RECONCILIATION OF FUNDS
Total funds brought forward 4,856,807 4,856,807
TOTAL FUNDS CARRIED FORWARD 3,828,188 18,599 3,846,787
12. TANGIBLE FIXEDASSETS
Fixtures
and
fittings
F
COST
At 1 January 2022 and
31 December 2022 89,353
DEPRECIATION
At 1 January 2022 and
31 December 2022 89,346
NET BOOK VALUE
At 31 December 2022
At 31 December 2021
13. FIXEDASSET INVESTMENTS
Listed
investments
5
NIARKET VALUE
At 1 January 2022 3,230,005
Unrealised
gains		 (331,868)
At 31 December 2022 2,898,137
NET BOOK VALUE
At 31 December 2022 2,898,137
At 31 December 2021 3,230,005
Investment
assets outside the UKare shown		 below.
Investments
can be		 further analysed as follows:
2022 2021
UK
f		 Overseas
5		 UK Overseas
Listed Investments 96,839 1,764,317 115,268 2,296,939
Other 824,573 212,408 603,885 213,913

921,412 1,976,725 719,153 2,510,852
14. DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
2022
f		 2021
Prepayments
&other debtors		 157,225 49,503
15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022
f		 2021
E
Trade creditors 39,638
Funded posts &other accruals 103,639 103,835
143,277 103,835
Minimum
lease payments
under non-cancellable
oper		 ating
leases fall due as follows:
2022
f		 2021
Within one year 720 4,544
Between one and five years 2,699 18,176
In more than five years 17,636
3,419 40,356

ANALY SIS OF NET ASSETS BETWEEN FUNDS
2022 2021
Unrestricted Restricted Total Total
funds funds funds funds
6 F 8
Fixed assets 7 7 7
Investments 2,898,137 2,898,137 3,230,005
Current assets 713,466 90,000 803,466 720,610
Current liabilities (143,277) (143,277) (103,835)
3,468,333 90,000 3,558,333 3,846,787

MOVEM ENT IN FUNDS
Net
movement At
At 1.1.22 in funds 31.12.22
E F
Unrestricted funds
General fund 3,528,188 (359,855) 3,168,333
Designated 300,000 300,000
Restricted funds 3,828,188 (359,855) 3,468,333
Julian Hodge 18,599 (18,599)
YMCA 90,000 90,000
18,599 71,401 90,000
TOTAL FUNDS 3,846,787 (288,454) 3,558,333
Net movement in funds,
includ		 ed
in the ab		 ove are as follo ws:
Incoming Resources Gams and Movement
resources expended losses in funds
F F
Unrestricted funds
General
fund		 801,368 (829,355) (331,868) (359,855)
Restricted funds
Julian Hodge (18,599) (18,599)
YMCA 90,000 90,000
90,000 (18,599) 71,401
TOTAL FUNDS 891,368 (847,954) (331,868) (288,454)
Comparatives for movement in funds
Net Transfers
movement between At
At 1.1.21 in funds funds 31.12.21
F F
Unrestricted funds
General
fund		 3,856,807 (1,028,619) 700,000 3,528,188
Designated 1,000,000 (700,000) 300,000
Restricted funds 4,856,807 (1,028,619) 3,828,188
Julian Hodge 18,599 18,599
TOTAL FUNDS 4,856,807 (1,010,020) 3,846,787

Comparative net movement
in fu		 nds,
included
in the abov		 e are as follows:
Incoming Resources Gains and Movement
resources
f		 expended
f		 losses
f		 in funds
f
Unrestricted funds
General
fund		 501,984 (1,898,930) 368,327 (1,028,619)
Restricted funds
Julian Hodge 18,599 18,599
TOTAL FUNDS 520,583 (1,898,930) 368,327 (1,010,020)