## **REGISTERED COMPANY NUMBER: 04818136 (England and Wales) REGISTERED CHARITY NUMBER: 1102449**
**FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR**
## **WELSH REFUGEE COUNCIL**
Bevan Buckland LLP Chartered Accountants And Statutory Auditors Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA
## **WELSH REFUGEE COUNCIL**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
||**Page**|
|---|---|
|**Report of the Trustees**|1 to 5|
|**Report of the Independent Auditors**|6 to 9|
|**Statement of Financial Activities**|10|
|**Balance Sheet**|11|
|**Cash Flow Statement**|12|
|**Notes to the Cash Flow Statement**|13|
|**Notes to the Financial Statements**|14 to 31|
|**Detailed Statement of Financial Activities**|32 to 33|
## **WELSH REFUGEE COUNCIL**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024**
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 2024. 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).
## **OBJECTIVES AND ACTIVITIES Objectives and aims**
## **Vision**
Working together to create a Wales where sanctuary seekers and refugees are welcomed, respected, and empowered.
## **Mission**
We improve the lives of sanctuary seekers and refugees through specialist support and influencing policy and practice.
## **Values**
We are and remain an independent charity and speak out with authority when, our service users' rights are being violated or not met.
1. Brave. We are bold, innovative, and we take action.
2. Diverse. We recognise that strengths we each bring, and each other’s uniqueness.
3. Croeso/Welcome. We create environments, that engage and welcome.
4. Influential. We empower people to tell their stories and use our data to lift narratives.
5. Collaborative. We recognise the importance of working in partnership and building each other’s capacity.
## **Public benefit**
The Trustees have considered the Charity Commission's guidance public benefit and have reviewed the Board's activities to consider the charitable activities of the Board to ensure that they provide benefit to the public. In shaping our objectives for the year and planning our activities the Trustees always ensure that the programmes we undertake are in line with our main charitable objects.
Page 1
## **WELSH REFUGEE COUNCIL**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024**
## **STRATEGIC REPORT**
## **Achievement and performance**
Over the last 3 years we have achieved an enormous amount. We have grown our income from £1m to £1.62m. We have adapted our services in the face of the Covid Pandemic and developed our services to meet client needs. We are proud that during the worst health pandemic of the last 100 years, we furloughed no staff and expanded our staffing base and our wellbeing offer for them.
We strengthened our structure bringing in key skills and talent to Fundraising and Communications and Engagement teams. We created 9 new lead roles, helping to increase pathways for career progression, and are delighted to see staff develop their skills.
Across our services, we expanded our volunteering offer, our Communications and Engagement roles, our Move on and Triage Teams. We launched new projects such as the Asylum Guides, Education and Employment project, and the Ukraine Project. We supported and empowered more sanctuary seekers and refugees and firmed up our position as the lead sanctuary and refugee charity in Wales. We continued supporting families and providing safe places for kids to grow via our Play Project.
We have achieved all of this against a hostile political migration landscape.
Over the next 3 years, our challenges won’t go away measures from the Nationality and Borders Act 2022 will continue to be implemented. Our biggest and most pressing being the widening of dispersal areas and supporting sanctuary seekers, local authorities, and local communities in new areas of Wales. Housing will be a key area for us as we seek to ensure that sanctuary seekers are treated with respect and are able to integrate from day 1 of arrival in Wales. The refugee journey will become more unstable due to limited time frames for renewing status, and our work to increase education and employment routes will increase.
We will work to build on our unique Welsh landscape of being a Nation of Sanctuary and work to influence key stakeholders to ensure this is embedded in every area of policy and practice.
Our strength is our passionate and dedicated team of staff and volunteers that believe in the power of human kindness and understanding. We will foster a welcome that we can be proud of.
## **Financial review**
## **Financial position**
Incoming resources during 2023/24 amounted to £1,617,613 compared to £1,649,580 in 2022/23.
Resources expended increased to £1,553,923 in 2023/24 from £1,475,662 in 2022/23. This year saw a surplus of £63,690.
Bringing the total charity unrestricted reserves to a balance of £840,683 as at 31st March 2024.
## **Reserves policy**
The Trustees have reviewed the charity's needs for reserves in line with guidance by the Charity Commission and the Trustees have set the charity a provisional medium-term goal of increasing its free reserves to a level, which is sufficient to meet three month's expenditure. This will allow the strength of the charity and allow us to deal effectively with variable futures, which we are currently predicting, using scenario planning approaches. The present level of reserves is near to target and much depends on whether the charity can continue to secure public sector funding and additional income from other sources.
The charity services are in high demand, and it is important that fundraising and stewardship continue to be able to flex and adapt to emerging needs.
At the year end, the charity has accumulated unrestricted reserves of £840,723 of which £428,551 have been designated towards salaries, and costs for 2024 to 2025.
Free reserves that are not designated stand at £412,172.
Designated funds comprise those funds which the Welsh Refugee Council may at its discretion set aside funds for specific purposes which would otherwise form part of the general unrestricted reserves. The Trustees have specifically designated the funds held as a payroll deposit of £29,000 with their payroll providers. An amount of £22,451 from Oak discretionary, and £145,836 of donations are designated for salaries gap in future years.
Page 2
## **WELSH REFUGEE COUNCIL**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024**
## **STRATEGIC REPORT**
## **Financial and risk management objectives and policies**
The trustees have overall responsibility for ensuring that appropriate systems of control, financial and otherwise, exist. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Our Strategic Plan has allowed us to deepen our use of Risk Management focussing on both operational and Strategic risks. Risk register is discussed at relevant Senior Management Team Meetings and board meetings.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The Welsh Refugee Council is a charitable company limited by guarantee, incorporated on 2 July 2003 with a memorandum and articles of association, which were amended on 1 October 2004, 18 February 2005, 6 April 2005, 27 January 2010, 20 January 2016 and 30 March 2017. Prior to incorporation the Council had operated through a non-incorporated charitable association.
The Trustees consider that The Welsh Refugee Council has adequate resources to continue in business for the foreseeable future, and that, for this reason it should continue to adopt the going concern basis in preparing the accounts.
## **Recruitment and appointment of new trustees**
The Board maintains broad representation across a wide range of disciplines and skills.
In 2012/13 the Trustee Board reviewed its processes for application to the Trustee Board and these were adopted at the 2013 Annual General Meeting. All Trustees are appointed on a three yearly basis and a third of Trustees are appointed at each AGM.
All members are given advance notice of who is standing for appointment or reappointment at an AGM, along with any relevant information. Outside of an AGM, the trustees can appoint a person to be a trustee either to fill a vacancy or as an additional trustee (in this case the person can only hold office until the next AGM and must stand down, if he or she is not appointed at that AGM). This is done to maintain the diverse skills within the Board of Trustees. All officers e.g. Chair, Vice Chair and Treasurer are elected for a period of one year at the first board meeting after the AGM.
All trustees, as well as attending the regular Board Meetings 6 times a year, also attend a Strategic Away Day which sets strategic priorities for the organisation for the following year. No Trustees receive any financial or other benefits for their role as Trustees.
## **Trustee Governance**
Any new Trustee is interviewed and visits the organisation prior to, their formal agreement to be a Trustee and they receive induction including a range of background information on the charity and see the provision of its key services. All Trustees sign "the Seven Principles of Public Life. Trustees are asked to declare any conflict of interest at the start of every meeting and recorded in the minutes. All Trustees are familiar with the Charity Commission guidance 'the essential trustee'. The board of trustees reviewed different competencies and skills related to the governance of the organisation using Trusted Charity framework to drive forward this quality agenda and this approach will be of increasing importance over the next few years. In 2010/11 the Trustee Board set up two sub-committees of the Board (1) Finance and Resources and (2) a Strategic Committee. Both meet on a two to three monthly basis.
The organisation maintains a membership register which is updated regularly. Any application formembership is considered by the Trustees.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number**
04818136 (England and Wales)
## **Registered Charity number**
1102449
## **Registered office**
120 - 122 Broadway Cardiff CF24 1NJ
Page 3
## **WELSH REFUGEE COUNCIL**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024**
**Trustees** O Burgess Dr M Chick H Iles (resigned 12.5.24) G Jones (resigned 22.11.23) C Mckeag N Morgan J Morgan B Richards (resigned 18.5.23) H Osman M Tilley (resigned 18.5.23) H Ameen S Bera B Rafiq (appointed 5.8.24)
## **Company Secretary**
A Cleaver
## **Senior Statutory Auditor**
Alison Vickers
## **Auditors**
Bevan Buckland LLP Chartered Accountants And Statutory Auditors Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA
## **Bankers**
NatWest Bank, 227 Cowbridge Road East, Cardiff CF5 1WX.
## **Solicitors**
Darwin Gray Solicitors, Helmont House, Churchill Way, Cardiff, CF10 2HE.
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
The trustees (who are also the directors of Welsh Refugee Council for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## In so far as the trustees are aware:
- there is no relevant audit information of which the charitable company's auditors are unaware; and
- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
Page 4
## **WELSH REFUGEE COUNCIL**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024**
## **AUDITORS**
The auditors, Bevan Buckland LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on .19/12/204 and signed on the board's behalf by:
........................................................................ B Rafiq - Trustee
Page 5
## **REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WELSH REFUGEE COUNCIL**
## **Opinion**
We have audited the financial statements of Welsh Refugee Council (the 'charitable company') for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- - have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Trustees has been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.
Page 6
## **REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WELSH REFUGEE COUNCIL**
## **Responsibilities of trustees**
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Page 7
## **REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WELSH REFUGEE COUNCIL**
## **Our responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
## **Extent to which the audit was considered capable of detecting irregularities, including fraud.**
We identify and assess the risks of material misstatement of the Financial Statements, whether due to fraud or error, and then, design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.
We discussed our audit independence complying with the Revised Ethical Standard 2019 with the engagement team members whilst planning the audit and continually monitored our independence throughout the process.
## **Identifying and assessing potential risks related to irregularities.**
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:
- enquiring of management, including obtaining and reviewing supporting documentation, the charitable company's policies and procedures relating to:
- identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;
- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;
- the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations; - discussing among the engagement team how and where fraud might occur in the Financial Statements and any potential indicators of fraud.
- obtaining an understanding of the legal and regulatory frameworks that the charitable company operates in, focusing on those laws and regulations that had a direct effect on the Financial Statements or that had a fundamental effect on the operations of the charitable company, The key laws and regulations we considered in this context included the UK Companies Act and relevant tax legislation.
## **Audit response to risks identified**
In addition to the above, our procedures to respond to risks identified included the following:
- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with relevant laws and regulations;
- enquiring of management concerning actual and potential litigation and claims; performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
- reading minutes of meetings of those charged with governance and reviewing correspondence with HMRC; and
- in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments;
- assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and - evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
Page 8
## **REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WELSH REFUGEE COUNCIL**
## **Use of our report**
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Alison Vickers (Senior Statutory Auditor) for and on behalf of Bevan Buckland LLP Chartered Accountants And Statutory Auditors Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA
Date: ............................................. 20/12/2024
Page 9
## **WELSH REFUGEE COUNCIL**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
**Charitable activities**
5
Refugee & Asylum Assistance
Other trading activities
3
Investment income
4
Other income
**Total**
**EXPENDITURE ON**
**Charitable activities**
6
Refugee & Asylum Assistance
**NET INCOME/(EXPENDITURE)**
**Transfers between funds**
16
**Net movement in funds**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
funds
£
100,597
220,215
1,750
11,401
164,183
498,146
242,732
255,414
23,056
278,470
562,253
840,723|Restricted
funds
£
12,906
1,106,561
-
-
-
1,119,467
1,311,191
(191,724)
(23,056)
(214,780)
485,464
270,684|2024
Total
funds
£
113,503
1,326,776
1,750
11,401
164,183
1,617,613
1,553,923
63,690
-
63,690
1,047,717
1,111,407|2023
Total
funds
£
89,251
1,456,207
1,190
2,398
100,534
1,649,580
1,475,662
173,918
-
173,918
873,799
1,047,717|
|---|---|---|---|---|
## **CONTINUING OPERATIONS**
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
Page 10
## **WELSH REFUGEE COUNCIL**
## **BALANCE SHEET 31 MARCH 2024**
|Notes
**ED ASSETS**
ngible assets
12
**RRENT ASSETS**
btors
13
sh at bank and in hand
**EDITORS**
ounts falling due within one year
14
**T CURRENT ASSETS**
**TAL ASSETS LESS CURRENT LIABILITIES**
**T ASSETS**
**NDS**
16
restricted funds
signated funds
stricted funds
**TAL FUNDS**|Unrestricted
funds
£
-
52,218
879,137
931,355
(90,632)
840,723
840,723
840,723|Restricted
funds
£
6,540
175,752
158,491
334,243
(70,099)
264,144
270,684
270,684|2024
Total
funds
£
6,540
227,970
1,037,628
1,265,598
(160,731)
1,104,867
1,111,407
1,111,407
412,172
428,551
270,684
1,111,407|2023
Total
funds
£
8,021
638,000
645,247
1,283,247
(243,551)
1,039,696
1,047,717
1,047,717
284,754
277,499
485,464
1,047,717|
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 19/12/2024 and were signed on its behalf by: ............................................. H Ameen - Trustee
............................................. B Rafiq - Trustee
The notes form part of these financial statements
Page 11
|**WELSH REFUGEE COUNCIL**
**CASH FLOW STATEMENT**
**FOR THE YEAR ENDED 31 MARCH 2024**
2024
Notes
£
**Cash flows from operating activities**
Cash generated from operations
1
392,381
Net cash provided by/(used in) operating activities
392,381
**Cash flows from investing activities**
Purchase of tangible fixed assets
-
Net cash provided by/(used in) investing activities
-
**Change in cash and cash equivalents in**
**the reporting period**
392,381
**Cash and cash equivalents at the**
**beginning of the reporting period**
645,247
**Cash and cash equivalents at the end of**
**the reporting period**
1,037,628|2023
£
(159,868)
(159,868)
(1,884)
(1,884)
(161,752)
806,999
645,247|
|---|---|
The notes form part of these financial statements
Page 12
## **WELSH REFUGEE COUNCIL**
## **NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024**
|**1.**
**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**
2024
£
**Net income for the reporting period (as per the Statement of Financial**
**Activities)**
63,690
**Adjustments for:**
Depreciation charges
1,481
Decrease/(increase) in debtors
410,030
(Decrease)/increase in creditors
(82,820)
**Net cash provided by/(used in) operations**
392,381
**2.**
**ANALYSIS OF CHANGES IN NET FUNDS**
At 1.4.23
Cash flow
£
£
**Net cash**
Cash at bank and in hand
645,247
392,381
645,247
392,381
**Total**
645,247
392,381|2023
£
173,918
1,833
(343,869)
8,250
(159,868)
At 31.3.24
£
1,037,628
1,037,628
1,037,628|
|---|---|
The notes form part of these financial statements
Page 13
## **WELSH REFUGEE COUNCIL**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024**
## **1. ACCOUNTING POLICIES**
## **Accounting convention**
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.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, any conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Income from Government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
All income received by the Charity is used to deliver its primary objective being refugee related support.
## **Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
## **Donations**
Voluntary income is received by way of donation and is included in full in the Income and Expenditure account when received.
## **Rental income**
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease.
## **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 Activities**
Charitable expenditure comprises those costs associated with the expenditure on charitable activities included the cost of pre status, refugee status and influencing policy and campaigning activities undertaken to further the purposes of the charity and their associated support costs for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **Other Expenditure**
All resources expended are classified under activity headings that aggregate all costs related to the category. Irrecoverable VAT is charged against the category of resources expended for which was incurred.
## **Support Costs**
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include finance, personnel, payroll and governance costs which support the charity's activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities.
## **Donated Services and Facilities**
Donated professional services and facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS102), the general volunteer time is not recognised and refer to the trustees' annual report for more information about their contribution.
Page 14
continued...
## **WELSH REFUGEE COUNCIL**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
## **1. ACCOUNTING POLICIES - continued**
## **Expenditure**
On receipt, donated professional services and facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market, a corresponding amount is then recognised in expenditure in the period of receipt.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on cost Computer equipment - 25% on cost
Where the capital expenditure is less than £1,000 the charity, has adopted the policy to charge the SOFA the cost of the assets purchased. All items over £1,000 are capitalised and depreciated over their useful economic life.
## **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.
The reserves are nominated free reserves.
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **Preparation of the accounts on a going concern basis**
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
## **Cash at bank and in hand**
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **Functional and Presentation Currency**
The company's functional and presentation currency is pounds sterling.
## **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.
## **Deferred Income**
Deferred income represents invoices raised in the year for grants relating to future periods.
## **Employee Benefits**
The costs of short term employee benefits are recognised as a liability and an expense, unless these costs are required to be recognised as part of the cost of stock or fixed assets.
Page 15
continued...
## **WELSH REFUGEE COUNCIL**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
## **1. ACCOUNTING POLICIES - continued**
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **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 settlement value.
## **Basic financial assets**
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.
## **Basic financial liabilities**
Basic financial liabilities, including bank loans, trade and other payables are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.
## **Significant management judgements and key sources of estimation uncertainty**
The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgments about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results in the future may differ from these estimates.
Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised and in any future periods affected.
## **Company Status**
The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £10.
## **2. DONATIONS AND LEGACIES**
|Donations
Subscriptions
**3.**
**OTHER TRADING ACTIVITIES**
Rental Income|2024
£
112,932
571
113,503
2024
£
1,750|2023
£
88,997
254
89,251
2023
£
1,190|
|---|---|---|
Page 16
continued...
## **WELSH REFUGEE COUNCIL**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
## **4. INVESTMENT INCOME**
|Interest Received
**5.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Grants
Refugee & Asylum Assistance
Grants received, included in the above, are as follows:
Welsh Government
Comic Relief
BBC Children in need
Garfield Western
The National Lottery Community Fund
Arts Council for Wales
Oak Foundation
Refugee Action
Community Foundation in Wales
Award for All
Race Council Cymru
Gwent TNLCF
CAF Project
DWP Kickstart
IKEA
WCVA Volunteering Project
The Blue Thread
Admiral
Wales and West
National Grid
LandAid
WCVA Capacity Build
WCVA TSRF
Play Project
Traumatic Stress
PricewaterhouseCoopers
**6.**
**CHARITABLE ACTIVITIES COSTS**
Refugee & Asylum Assistance|Direct
Costs
£
1,351,373|2024
£
11,401
2024
£
1,326,776
2024
£
824,168
23,456
28,963
39,500
-
-
138,000
-
49,776
-
-
93,422
-
-
18,002
28,750
-
15,240
10,000
9,998
-
3,501
-
29,000
10,000
5,000
1,326,776
Support
costs (see
note 7)
£
202,550|2023
£
2,398
2023
£
1,456,207
2023
£
729,113
37,167
31,693
33,000
96,622
10,780
128,631
8,897
49,792
5,388
2,667
65,328
38,068
4,341
47,630
18,750
50,000
45,936
7,816
9,958
5,000
3,501
26,129
-
-
-
1,456,207
Totals
£
1,553,923|
|---|---|---|---|
Page 17
continued...
## **WELSH REFUGEE COUNCIL**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
## **7. SUPPORT COSTS**
|**7.**
**SUPPORT COSTS**||||
|---|---|---|---|
|Management
£
Refugee & Asylum Assistance
192,558
**8.**
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets|Finance
£
686|Support
costs
£
9,306
2024
£
1,481|Totals
£
202,550|
||||2023
£
1,833|
## **9. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
## **Trustees' expenses**
|Trustees' expenses
**10.**
**STAFF COSTS**
Wages and salaries
Social security costs
Other pension costs|2024
£
446
2024
£
1,081,501
92,593
41,000
1,215,094|2023
£
200
2023
£
961,056
74,214
34,464|
|---|---|---|
|||1,069,734|
Remuneration relating to key management personnel were within the following ranges:
|**Salary**
£000
CEO
65-70
Head of Services
40-45
Head of Comms
40-45
Head of Resettlement
40-45
Head of Resources
40-45
Total paid to key management personnel
The average monthly number of employees during the year was as follows:
Direct Charitable Expenditure
Administration|**2024**
172,620
**2024**
45
1
46|**2023**
212,657
**2023**
38
1
39|
|---|---|---|
Page 18
continued...
## **WELSH REFUGEE COUNCIL**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
## **10. STAFF COSTS - continued**
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
|£60,001 - £70,000
**11.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
68,392
**Charitable activities**
Refugee & Asylum Assistance
102,881
Other trading activities
1,190
Investment income
2,398
Other income
9,036
**Total**
183,897
**EXPENDITURE ON**
**Charitable activities**
Refugee & Asylum Assistance
134,058
**NET INCOME**
49,839
**Transfers between funds**
14,163
**Net movement in funds**
64,002
**RECONCILIATION OF FUNDS**
Total funds brought forward
498,251
**TOTAL FUNDS CARRIED FORWARD**
562,253
**12.**
**TANGIBLE FIXED ASSETS**
Plant and
machinery
£
**COST**
At 1 April 2023 and 31 March 2024
9,745
**DEPRECIATION**
At 1 April 2023
4,620
Charge for year
976
At 31 March 2024
5,596
**NET BOOK VALUE**
At 31 March 2024
4,149
At 31 March 2023
5,125|**2024**
1
Restricted
funds
£
20,859
1,353,326
-
-
91,498
1,465,683
1,341,604
124,079
(14,163)
109,916
375,548
485,464
Computer
equipment
£
67,034
64,138
505
64,643
2,391
2,896|**2023**
1
Total
funds
£
89,251
1,456,207
1,190
2,398
100,534
1,649,580
1,475,662
173,918
-
173,918
873,799
1,047,717
Totals
£
76,779
68,758
1,481
70,239
6,540
8,021|
|---|---|---|
||||
Page 19
continued...
## **WELSH REFUGEE COUNCIL**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
|**13.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Other debtors
Prepayments
**14.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
VAT
Other creditors
Accrued expenses|**2024**
£
139,099
88,301
570
227,970
**2024**
£
74,221
61,651
3,484
21,375
160,731|**2023**
£
381,301
254,209
2,490
638,000
**2023**
£
154,703
55,636
2,976
30,236
243,551|
|---|---|---|
## **15. LEASING AGREEMENTS**
|The amounts payable in respect of operating leases shown below are analysed according to the expiry of the|The amounts payable in respect of operating leases shown below are analysed according to the expiry of the|The amounts payable in respect of operating leases shown below are analysed according to the expiry of the|
|---|---|---|
|leases;|||
||**2024**|**2023**|
||**£**|**£**|
|Committed to be paid:|||
|Expiring within one year|24,800|24,800|
|Expiring more than one year|12,000|12,000|
Page 20
continued...
## **WELSH REFUGEE COUNCIL**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
## **16. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
**Designated funds**
Migrant Help
Oak Discretionary Payment Designated
Fund
RCT Syrian Project
Funds Held as Payroll Deposit
Sewscap
Garfield Weston
IKEA
2023/24 Essential Posts Designated Fund
PricewaterhouseCoopers
Traumatic Stress
Oak New Project
**Restricted funds**
WG Move on Project Grant
Hardship Fund Activities Donations
The Big Lottery Grant (People and Places)
The Big Lottery Capital Costs
WG WSS Project
People Post Code
WG Hate Crime
Clothworkers Foundation
Oak Foundation
Refugee Action
Award for All
Migrant Help Aire
Newport Rent Donations
Comic Relief Change Makers
BBC Children in Need IV
General fund
WCVA Volunteer Project
CFIW Nation of Sanctuary
Admiral
Blue Thread
Wales and West
NEWP TNLCF
CARD TNLCF
SWA TNLCF
Adibi Fund
WG ARP Ukrainian Project
BBC Children in Need V
Play Project
**TOTAL FUNDS**|At 1.4.23
£
284,754
284,754
6,928
27,178
26,219
29,000
-
8,490
47,151
127,553
4,980
-
-
277,499
297
16,110
71,645
23,134
21,919
4,900
785
2,330
47,786
2,999
1,441
11,230
7,722
22,679
1,000
16,538
5,617
34,545
40,945
50,000
7,816
19,621
8,181
3,232
3,243
58,811
938
-
485,464
1,047,717|Net
movement
in funds
£
18,225
18,225
64,558
(4,727)
(4,077)
-
-
19,755
(9,332)
93,283
(78)
6,072
71,735
172,631
-
(7,315)
(67,746)
(976)
(21,919)
(4,900)
(785)
(505)
(45,767)
-
(1,441)
-
1,476
(12,766)
(74)
-
(1,452)
(127)
(17,644)
(42,008)
2,269
(1,674)
875
(930)
2,255
1,289
(938)
29,079
(191,724)
63,690|Transfers
between
funds
£
109,193
109,193
(6,928)
-
(13,244)
-
3,752
5,283
-
(75,000)
-
-
-
(86,137)
(223)
649
(3,420)
-
-
-
-
-
(2,019)
(2,999)
-
(11,230)
-
(9,913)
(926)
-
-
-
-
-
-
1,014
4,210
-
-
-
-
926
(23,056)
-|At
31.3.24
£
412,172
412,172
64,558
22,451
8,898
29,000
3,752
33,528
37,819
145,836
4,902
6,072
71,735
428,551
74
9,444
479
22,158
-
-
-
1,825
-
-
-
-
9,198
-
-
16,538
4,165
34,418
23,301
7,992
10,085
18,961
16,124
2,302
5,498
58,117
-
30,005
270,684
1,111,407|
|---|---|---|---|---|
Page 21
continued...
## **WELSH REFUGEE COUNCIL**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
## **16. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Designated funds**
Migrant Help
Oak Discretionary Payment Designated
Fund
RCT Syrian Project
Garfield Weston
IKEA
2023/24 Essential Posts Designated Fund
PricewaterhouseCoopers
Traumatic Stress
Oak New Project
**Restricted funds**
WG Move on Project Grant
Hardship Fund Activities Donations
The Big Lottery Grant (People and Places)
The Big Lottery Capital Costs
WG WSS Project
People Post Code
WG Hate Crime
Clothworkers Foundation
Oak Foundation
Award for All
Newport Rent Donations
Comic Relief Change Makers
WCVA Capacity Build
BBC Children in Need IV
WCVA Volunteer Project
CFIW Nation of Sanctuary
National Grid
Admiral
Blue Thread
Wales and West
NEWP TNLCF
CARD TNLCF
SWA TNLCF
Adibi Fund
WG ARP Ukrainian Project
BBC Children in Need V
WG Engagement Paper Research
Play Project
**TOTAL FUNDS**|Incoming
resources
£
16,845
16,845
125,389
-
25,818
39,500
18,002
119,592
5,000
10,000
138,000
481,301
171,365
2,827
-
-
358,690
-
-
-
-
-
1,476
25,206
3,501
-
28,750
49,776
9,998
20,240
-
10,000
28,320
54,282
10,820
5,000
279,490
28,963
1,684
29,079
1,119,467
1,617,613|Resources
expended
£
1,380
1,380
(60,831)
(4,727)
(29,895)
(19,745)
(27,334)
(26,309)
(5,078)
(3,928)
(66,265)
(244,112)
(171,365)
(10,142)
(67,746)
(976)
(380,609)
(4,900)
(785)
(505)
(45,767)
(1,441)
-
(37,972)
(3,501)
(74)
(30,202)
(49,903)
(9,998)
(37,884)
(42,008)
(7,731)
(29,994)
(53,407)
(11,750)
(2,745)
(278,201)
(29,901)
(1,684)
-
(1,311,191)
(1,553,923)|Movement
in funds
£
18,225
18,225
64,558
(4,727)
(4,077)
19,755
(9,332)
93,283
(78)
6,072
71,735
237,189
-
(7,315)
(67,746)
(976)
(21,919)
(4,900)
(785)
(505)
(45,767)
(1,441)
1,476
(12,766)
-
(74)
(1,452)
(127)
-
(17,644)
(42,008)
2,269
(1,674)
875
(930)
2,255
1,289
(938)
-
29,079
(191,724)
63,690|
|---|---|---|---|
Page 22
continued...
## **WELSH REFUGEE COUNCIL**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
## **16. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
**Designated funds**
Migrant Help
Oak Discretionary Payment Designated
Fund
RCT Syrian Project
Funds Held as Payroll Deposit
Garfield Weston
WCVA 2021/22
IKEA
AB Charitable Trust
2022/23 Essential Posts Designated Fund
2023/24 Essential Posts Designated Fund
PricewaterhouseCoopers
**Restricted funds**
WG Move on Project Grant
Hardship Fund Activities Donations
The Big Lottery Grant (People and Places)
The Big Lottery Capital Costs
Lloyds Bank Foundation
WG WSS Project
People Post Code
WG Hate Crime
Clothworkers Foundation
RCT Syrian Project
Oak Foundation
Refugee Action
Screwfix
National Emergency Trust
Award for All
Migrant Help Aire
Moondance Foundation
Race Council Cymru
Newport Rent Donations
Gwent TNLFC
CAF Project
DWP Kickstart
Comic Relief Change Makers
WCVA 2021/22
BBC Children in Need IV
Moondance Community Organising
General fund
WCVA Volunteer Project
CFIW Nation of Sanctuary
Admiral
Blue Thread
Wales and West
NEWP TNLCF
CARD TNLCF|At 1.4.22
£
268,045
268,045
6,928
34,421
12,056
29,000
26,304
5,409
15,000
13,204
25,233
62,651
-
230,101
298
21,064
77,299
23,134
1,603
-
17,951
5,484
2,330
-
40,452
16,035
5,000
11,297
-
-
8,451
5,489
6,234
1,167
96,309
2,205
-
8,110
-
14,086
11,550
-
-
-
-
-
-
-|Net
movement
in funds
£
56,378
56,378
-
(7,243)
-
-
(17,814)
(5,409)
32,151
(13,204)
-
-
4,980
(6,539)
(1)
(4,954)
(5,654)
-
(1,603)
21,919
(13,051)
(4,699)
-
14,163
7,334
(13,036)
(5,000)
(11,297)
1,441
11,230
(8,451)
(5,489)
1,488
(1,167)
(96,309)
(2,205)
22,679
(8,110)
1,000
(14,086)
4,988
5,617
34,545
40,945
50,000
7,816
19,621
8,181|Transfers
between
funds
£
(39,669)
(39,669)
-
-
14,163
-
-
-
-
-
(25,233)
64,902
-
53,832
-
-
-
-
-
-
-
-
-
(14,163)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|At
31.3.23
£
284,754
284,754
6,928
27,178
26,219
29,000
8,490
-
47,151
-
-
127,553
4,980
277,499
297
16,110
71,645
23,134
-
21,919
4,900
785
2,330
-
47,786
2,999
-
-
1,441
11,230
-
-
7,722
-
-
-
22,679
-
1,000
-
16,538
5,617
34,545
40,945
50,000
7,816
19,621
8,181|
|---|---|---|---|---|
Page 23
continued...
## **WELSH REFUGEE COUNCIL**
## **NOTES TO THE FINCIAL STATEMENTS – continued FOR THE YEAR ENDED 31 MARCH 2024**
## **[16. ] MOVEMENT IN FUNDS** - continued
|SWA TNLCF
Adibi Fund
WG ARP Ukrainian Project
BBC Children in Need V
**TOTAL FUNDS**|-
-
-
-
375,548
873,799|3,232
3,243
58,811
938
124,079
173,918|-
3,232
-
3,243
-
58,811
-
938
(14,163)
485,464
-
1,047,717|3,232
3,243
58,811
938|
|---|---|---|---|---|
Page 24
continued...
## **WELSH REFUGEE COUNCIL**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
## **16. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
**Restricted funds**
General fund
**Designated funds**
Oak Discretionary Payment Designated
Fund
WCVA Capacity Build
Garfield Weston
WCVA 2021/22
IKEA
AB Charitable Trust
PricewaterhouseCoopers
WG Move on Project Grant
Hardship Fund Activities Donations
Arts Council for Wales
The Big Lottery Grant (People and Places)
Lloyds Bank Foundation
WG WSS Project
People Post Code
WG Hate Crime
RCT Syrian Project
Oak Foundation
Refugee Action
Screwfix
National Emergency Trust
Award for All
Migrant Help Aire
Moondance Foundation
Race Council Cymru
Newport Rent Donations
Gwent TNLFC
CAF Project
DWP Kickstart
Comic Relief Change Makers
WCVA 2021/22
BBC Children in Need IV
Moondance Community Organising
General fund
WCVA TSRF
WCVA Volunteer Project
CFIW Nation of Sanctuary
National Grid
Landaid
Admiral
Blue Thread
Wales and West
NEWP TNLCF
CARD TNLCF|Incoming
Resources
resources
expended
£
£
107,881
(114,420)
76,016
76,016
(19,638)
(19,638)
18,750
(25,993)
3,501
(3,501)
33,000
(50,814)
-
(5,409)
47,630
(15,479)
-
(13,204)
5,000
(20)
161,665
(161,666)
8,371
(13,325)
10,780
(10,780)
96,622
(102,276)
-
(1,603)
345,431
(323,512)
-
(13,051)
-
(4,699)
48,497
(34,334)
109,881
(102,547)
8,897
(21,933)
-
(5,000)
-
(11,297)
5,388
(3,947)
43,001
(31,771)
-
(8,451)
2,667
(8,156)
1,488
-
-
(1,167)
38,068
(134,377)
4,341
(6,546)
37,167
(14,488)
-
(8,110)
1,000
-
-
(14,086)
5,000
(12)
26,129
(26,129)
18,750
(13,133)
49,792
(15,247)
9,958
(9,958)
5,000
(5,000)
45,936
(4,991)
50,000
-
7,816
-
25,009
(5,388)
32,247
(24,066)|Movement
in funds
£
(6,539)
56,378
56,378
(7,243)
-
(17,814)
(5,409)
32,151
(13,204)
4,980
(1)
(4,954)
-
(5,654)
(1,603)
21,919
(13,051)
(4,699)
14,163
7,334
(13,036)
(5,000)
(11,297)
1,441
11,230
(8,451)
(5,489)
1,488
(1,167)
(96,309)
(2,205)
22,679
(8,110)
1,000
(14,086)
4,988
-
5,617
34,545
-
-
40,945
50,000
7,816
19,621
8,181|
|---|---|---|
Page 25
continued...
## **WELSH REFUGEE COUNCIL**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
## **16. MOVEMENT IN FUNDS - continued**
|SWA TNLCF
Adibi Fund
WG ARP Ukrainian Project
BBC Children in Need V
**TOTAL FUNDS**|1,465,683
8,072
5,000
222,017
31,693
1,649,580|(1,341,604)
(4,840)
(1,757)
(163,206)
(30,755)
(1,475,662)|124,079
3,232
3,243
58,811
938
173,918|
|---|---|---|---|
Page 26
continued...
## **WELSH REFUGEE COUNCIL**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
## **16. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**Designated funds**
Migrant Help
Oak Discretionary Payment Designated
Fund
RCT Syrian Project
Funds Held as Payroll Deposit
Sewscap
Garfield Weston
WCVA 2021/22
IKEA
AB Charitable Trust
2022/23 Essential Posts Designated Fund
2023/24 Essential Posts Designated Fund
PricewaterhouseCoopers
Traumatic Stress
Oak New Project
**Restricted funds**
WG Move on Project Grant
Hardship Fund Activities Donations
The Big Lottery Grant (People and Places)
The Big Lottery Capital Costs
Lloyds Bank Foundation
People Post Code
WG Hate Crime
Clothworkers Foundation
RCT Syrian Project
Oak Foundation
Refugee Action
Screwfix
National Emergency Trust
Migrant Help Aire
Moondance Foundation
Race Council Cymru
Newport Rent Donations
Gwent TNLFC
CAF Project
DWP Kickstart
Comic Relief Change Makers
WCVA 2021/22
BBC Children in Need IV
Moondance Community Organising
General fund
WCVA Volunteer Project
CFIW Nation of Sanctuary
Admiral
Blue Thread
Wales and West|At 1.4.22
£
268,045
268,045
6,928
34,421
12,056
29,000
-
26,304
5,409
15,000
13,204
25,233
62,651
-
-
-
230,206
298
21,064
77,299
23,134
1,603
17,951
5,484
2,330
-
40,452
16,035
5,000
11,297
-
8,451
5,489
6,234
1,167
96,309
2,205
-
8,110
-
14,086
11,550
-
-
-
-
-|Net
movement
in funds
£
74,603
74,603
64,558
(11,970)
(4,077)
-
-
1,941
(5,409)
22,819
(13,204)
-
87,264
4,902
6,072
71,735
230,650
(1)
(12,269)
(73,400)
(976)
(1,603)
(17,951)
(5,484)
(505)
14,163
(38,433)
(13,036)
(5,000)
(11,297)
11,230
(8,451)
(5,489)
2,964
(1,167)
(96,309)
(2,205)
9,913
(8,110)
926
(14,086)
4,988
4,165
34,418
23,301
7,992
10,085|Transfers
between
funds
£
69,524
69,524
(6,928)
-
919
-
3,752
5,283
-
-
-
(25,233)
(10,098)
-
-
-
(32,305)
(223)
649
(3,420)
-
-
-
-
-
(14,163)
(2,019)
(2,999)
-
-
(11,230)
-
-
-
-
-
-
(9,913)
-
(926)
-
-
-
-
-
-
-|At
31.3.24
£
412,172
412,172
64,558
22,451
8,898
29,000
3,752
33,528
-
37,819
-
-
145,836
4,902
6,072
71,735
428,551
74
9,444
479
22,158
-
-
-
1,825
-
-
-
-
-
-
-
-
9,198
-
-
-
-
-
-
-
16,538
4,165
34,418
23,301
7,992
10,085|
|---|---|---|---|---|
Page 27
continued...
## **WELSH REFUGEE COUNCIL**
## **NOTES TO THE FINANCIAL STATEMENTS – continued FOR THE YEAR ENDED 31 MARCH 2024**
## **16. MOVEMENT IN FUNDS - continued**
|NEWP TNLCF
CARD TNLCF
SWA TNLCF
Adibi Fund
WG ARP Ukrainian Project
Play Project
**TOTAL FUNDS**||-
-
-
-
-
-
375,548
873,799||17,947
9,056
2,302
5,498
60,100
29,079
(67,645)
237,608|1,014
7,068
-
-
(1,983)
926
(37,219)
-||18,961
16,124
2,302
5,498
58,117
30,005|
|---|---|---|---|---|---|---|---|
|||||||||
Page 28
continued...
## **WELSH REFUGEE COUNCIL**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
## **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:
|**Unrestricted funds**
**Restricted funds**
WG Move on Project Grant
Hardship Fund Activities Donations
Arts Council for Wales
The Big Lottery Grant (People and Places)
The Big Lottery Capital Costs
Lloyds Bank Foundation
WG WSS Project
People Post Code
WG Hate Crime
Clothworkers Foundation
RCT Syrian Project
Oak Foundation
Refugee Action
Screwfix
National Emergency Trust
Award for All
Migrant Help Aire
Moondance Foundation
Race Council Cymru
Newport Rent Donations
Gwent TNLFC
CAF Project
DWP Kickstart
Comic Relief Change Makers
WCVA 2021/22
WCVA Capacity Build
BBC Children in Need IV
Moondance Community Organising
General fund
WCVA TSRF
General fund
**Designated Funds**
Migrant Help
Oak Discretionary Payment Designated
Fund
RCT Syrian Project
WCVA Capacity Build
Garfield Weston
WCVA 2021/22
IKEA
AB Charitable Trust
2023/24 Essential Posts Designated Fund
PricewaterhouseCoopers
Traumatic Stress
Oak New Project|Incoming
resources
£
589,182
333,030
11,198
10,780
96,622
-
-
704,121
-
-
-
48,497
109,881
8,897
-
-
5,388
43,001
-
2,667
2,964
-
38,068
4,341
62,373
-
3,501
1,000
-
5,000
26,129
92,861
92,861
125,389
18,750
25,818
3,501
72,500
-
65,632
-
119,592
10,000
10,000
138,000|Resources
expended
£
(358,532)
(333,031)
(23,467)
(10,780)
(170,022)
(976)
(1,603)
(704,121)
(17,951)
(5,484)
(505)
(34,334)
(148,314)
(21,933)
(5,000)
(11,297)
(5,388)
(31,771)
(8,451)
(8,156)
-
(1,167)
(134,377)
(6,546)
(52,460)
(8,110)
(3,501)
(74)
(14,086)
(12)
(26,129)
(18,258)
(18,258)
(60,831)
(30,720)
(29,895)
(3,501)
(70,559)
(5,409)
(42,813)
(13,204)
(26,309)
(5,098)
(3,928)
(66,265)|Movement
in funds
£
230,650
(1)
(12,269)
-
(73,400)
(976)
(1,603)
-
(17,951)
(5,484)
(505)
14,163
(38,433)
(13,036)
(5,000)
(11,297)
-
11,230
(8,451)
(5,489)
2,964
(1,167)
(96,309)
(2,205)
9,913
(8,110)
-
926
(14,086)
4,988
-
74,603
74,603
64,558
(11,970)
(4,077)
-
1,941
(5,409)
22,819
(13,204)
93,283
4,902
6,072
71,735|
|---|---|---|---|
Page 29
continued...
## **WELSH REFUGEE COUNCIL**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
## **16. MOVEMENT IN FUNDS - continued**
|WCVA Volunteer Project
CFIW Nation of Sanctuary
National Grid
Landaid
Admiral
Blue Thread
Wales and West
NEWP TNLCF
CARD TNLCF
SWA TNLCF
Adibi Fund
WG ARP Ukrainian Project
BBC Children in Need V
WG Engagement Paper Research
Play Project
**TOTAL FUNDS**|47,500
99,568
19,956
5,000
66,176
50,000
17,816
53,329
86,529
18,892
10,000
501,507
60,656
1,684
29,079
2,585,150
3,267,193|(43,335)
(65,150)
(19,956)
(5,000)
(42,875)
(42,008)
(7,731)
(35,382)
(77,473)
(16,590)
(4,502)
(441,407)
(60,656)
(1,684)
-
(2,652,795)
(3,029,585)|4,165
34,418
-
-
23,301
7,992
10,085
17,947
9,056
2,302
5,498
60,100
-
-
29,079
(67,645)
237,608|
|---|---|---|---|
Page 30
continued...
## **WELSH REFUGEE COUNCIL**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
## **16. MOVEMENT IN FUNDS - continued**
a. The WG Move On project provided assistance in the transition of the status of an asylum seeker to refugee housing support in Wales.
b. The NLCF funds were to fund important positions like, Triage, Caseworker, Volunteer PO, BDO and upgrade computer equipment.
- c. BBC Children in Need provided funding for a part-time post of Play Development Worker and Play Assistant, to establish informal children's play sessions and a toy library for refugee and asylum-seeking children.
d. The Comic Relief grant was to fund NRPF caseworker.
e. The Lloyds Bank Foundation grant helped to fund two part time posts (Executive Assistant & Finance Assistant)
- f. The WG WSS project is paid by Welsh Government, thanks to this project we make sure our clients know their rights and we also advocate for them.
- g. The Hate Crime project funded workshops & activities to increase Hate crime awareness.
- h. The Oak Foundation Grant is to fund the "Refugee and Asylum Housing Prevention Project"
- i. The Refugee Action Grant is to fund the "Asylum Guide Project".
- j. The Community Foundation in Wales Nation of Sanctuary grant is to fund the Welsh Refugee Coalition Coordinator.
k. The Screwfix Grant is to fund part of the office refurbishment cost.
- l. The National Emergency Trust Grant is to help voluntary organisations that help vulnerable people impacted by the COVID-19 crisis.
- m. The WCVA COVID Grant is part of the Emergency Fund to help organisations during the pandemic.
- n. The Moondance Foundation Grant was COVID specific and helped funding the Education & Employability Officer.
- o. The Race Council Cymru grant is to fund the programme "Global Majority
- p. Gwent TNLC Fund was awarded for the help provided during the project development.
- q. The CAF project is part of the Resilience Fund phase 2 which provided funding for Service delivery.
- r. The DWP Kickstart helped us to create jobs for young people at risk of long-term unemployment
s. The WG Race Equality Grant main purpose was to ensure that the consultation on the Race Equality Action Plan for Wales is undertaken with a broad range of people from Black, Asian and Minority Ethnic communities across Wales (including Gypsies, Roma and Travellers, migrant and refugee communities).
- t. The WCVA 2021/22 is part of the Voluntary Service Recovery Fund and provided funding for service delivery.
- u. The Moondance Community Organising funded the Community Organiser to support Afghan Refugees
- v. WCVA Volunteer project is to fund the Volunteer Manager and volunteers activities.
- w. Admiral is to provide funding to the Education & Employability project.
- x. The Blue Thread is to provide funding to support our capacity and Behavioural Insights Development Project.
- y. Wales & West is to provide funding to support our Play project.
- z. Newport TNLCF is to provide funding to the Boost project for volunteers.
- aa. Cardiff TNLCF is to provide funding to reduce homelessness.
- bb. Swansea TNLCF is to provide funding to reduce homelessness
- cc. Adibi Fund is to provide funding for education.
dd. WG WSS Ukrainian is to provide funding for the Ukrainian crisis.
ee. Newport Rent Donations is to provide funding for the Newport office.
Designated funds comprise those funds which the Welsh Refugee Council may at its discretion set aside funds for specific purposes which would otherwise form part of the general unrestricted reserves. The Trustees have specifically designated the funds held as a payroll deposit of £29,000 with their payroll providers. An amount of £22,451 from Oak discretionary, and £145,836 of donations are designated for salaries gap in future years.
The designation reflects the intentions as to the future application of funds as at the balance sheet date and do not reflect an external transactions or present obligation to a third party.
The transfer of funds from Restricted to Unrestricted was agreed to be released to the general fund with the Trustees.
Page 31Page 30
continued...
## **WELSH REFUGEE COUNCIL**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024**
## **17. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 March 2024.
Page 32
## **WELSH REFUGEE COUNCIL**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Subscriptions
**Other trading activities**
Rental Income
**Investment income**
Interest Received
**Charitable activities**
Grants
**Other income**
RCT Service Level Agreement
Migrant Help
Sponsorships
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Trustees' expenses
Wages
Social security
Pensions
Promotional
Interpreting
Small projects
General office
Hardship
Partner overheads
Recruitment
Travel & training
Volunteer costs
Well being activities
Depn of plant & machinery
Depn of computer equipment
**Support costs**
**Management**
Communication
Professional
Premises
Carried forward|2024
£
112,932
571
113,503
1,750
11,401
1,326,776
38,794
125,389
-
164,183
1,617,613
446
1,081,501
92,593
41,000
3,983
1,633
28,987
1,537
-
53,462
6,433
27,915
7,247
3,155
976
505
1,351,373
77,146
15,287
68,439
160,872|2023
£
88,997
254
89,251
1,190
2,398
1,456,207
48,497
43,001
9,036
100,534
1,649,580
200
961,056
74,214
34,464
18,866
3,174
15,378
1,650
13,325
56,522
4,320
34,430
7,353
3,768
976
857
1,230,553
103,875
26,298
84,179
214,352|
|---|---|---|
This page does not form part of the statutory financial statements
Page 33
## **WELSH REFUGEE COUNCIL**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024**
|**Management**
Brought forward
General Office
**Finance**
Bank charges
**Support costs**
Audit and accountancy fees
Total resources expended
**Net income**|2024
£
160,872
31,686
192,558
686
9,306
1,553,923
63,690|2023
£
214,352
24,037
238,389
555
6,165
1,475,662
173,918|
|---|---|---|
This page does not form part of the statutory financial statements
Page 34