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2022-03-31-accounts

Company no. 04779458 Charity no. 1103712

Credu Supporting Young and Adult Carers Limited Report and Audited Financial Statements 31 March 2022

Credu Supporting Young and Adult Carers Limited

Reference and administrative details

For theyear ended 31 March 2022
Company number 04779458
Charity number 1103712
Registered office and Marlow
operational address South Crescent
Llandrindod Wells
Powys
LD1 5DH
Secretary M Davies (resigned 28 June 2021)
L Hammond (appointed 28 June 2021)
Trustees Trustees, who are also directors under company law, who served during
the year and up to the date of this report were as follows:
E Bleakley (appointed 15 December 2021)
J Carter (resigned 20 October 2022)
S Cooper (appointed 20 October 2022)
M Evitts
G Heathcote (appointed 20 June 2022)
G Hooker-Stroud (appointed 15 December 2021)
M Jarvis (Chair from 20 June 2022)
S John
O Jones (Chair until 20 June 2022)
J Raftree
A Williams
E Yaxley (appointed 28 June 2021)
Senior Management J R O'Hara Jakeway Chief Executive Officer
Team M Davies Operations Manager
B Evans Powys Team Leader for Adult
and Young Carers
M Dean GCC Team Leader
S Penlington WCD Team Manager (job share)
M Rogers WCD Team Manager (job share)
Bankers CAF Bank HSBC
25 Kings Hill Ave Middleton Street
Kings Hill Llandrindod Wells
West Malling Powys
ME19 4JQ LD1 5EU
Solicitors P4B Law Limited
JR Business Centre
Main Avenue
Treforest
CF37 5ST
Auditors Godfrey Wilson Limited
5th Floor Mariner House
62 Prince Street
Bristol
BS1 4QD

1

Credu Supporting Young and Adult Carers Limited

Report of the trustees

For the year ended 31 March 2022

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2022.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the Memorandum and Articles of Association and the Statement of Recommended Practice - Accounting and Reporting by Charities (effective from January 2019).

Structure, governance and management

Credu (Credu Supporting Young and Adult Carers Limited is the legal name, changed from Powys Carers' Service Limited in November 2022) is a charity and a company limited by guarantee, incorporated in 2003. It is a network member of the Carers Trust and is a Carers Trust Centre of Excellence. The charity also holds the PQASSO Quality Mark at Level 2; a quality mark which assesses the quality of the organisation in terms of delivery, involvement of stakeholders, human resources management, governance and so on. This quality mark has recently been rebranded as ‘Trusted Charity’ and is being updated.

The organisation is managed by a voluntary board of trustees, who set the strategic direction of the charity and delegate responsibilities for the day to day running of the Charity to a Chief Executive Officer who manages the Leadership Team covering all elements of Credu’s operations.

As well as the main board of trustees which meet quarterly during the period. We have a Finance Subgroup which scrutinises the organisations finances and makes recommendations to the board about any significant financial decisions. There is a Quality Subgroup which reviews the Governance and policies of the charity and makes recommendations to the board. There is also a People and Wellbeing subgroup which takes an overview of recruitment, support and wellbeing of staff and volunteers.

Trustee recruitment

Trustees are recruited via word of mouth, working relationships and networks. Potential trustees who apply to the Company Secretary are checked and are then co-opted by the existing trustees.

In this year, young adult carer Emily Bleakley was elected onto the board, bringing her experience as a young carer as well as her experience in influencing strategic boards in Powys and Welsh Government. George Stroud has also been elected onto the board as a trustee, bringing both experience as a carer and as an advisor to charities for the local Community Voluntary Council, specialising in charity finance.

Responsibility for day to day management

Day to day responsibility for the provision of the services rest with the Chief Executive Officer along with the Management Team.

Credu’s guiding principles:

The day to day work is guided by the following principles:

2

Credu Supporting Young and Adult Carers Limited

Report of the trustees

For the year ended 31 March 2022

Credu’s achievements

Overview from the Chair

It has been a great joy to spend another year as Credu’s chairperson. What is so fantastic about being involved with the Credu community is that it is made up of people who care. They live in the experience of compassion, empathy and commitment to others. Carers tell us that what matters to them is that the people they care for are recognised as human beings who have intrinsic worth, that the people that they care for be included in the day-to-day life of their communities and that society recognises and values caring for others.

Our community is made up of people who are connected with each other through their experience of and commitment to caring for those who they love, cherish and hold dear. Our community of carers come from all ages and backgrounds; caring unites rich and poor, rural and urban and connects people from all walks of life in a shared experience. The carers we support include children and young adults who care for their brothers and sisters and parents; parents who care for children with complex physical and mental health needs; grandparents who step in to keep families together and people who support their partners with chronic illness.

So many carers, however, are not getting the support needed, we are continually told that caring for loved ones frequently results in the sacrifice of their own emotional, physical and financial well-being.

So many carers are not getting the support that they need. We need to help grow our movement so that carers are no longer isolated, facing poverty, ill health, lack of respite and marginalisation. We have a great opportunity to build on our informal network of active citizens who are able to provide skilled strength-based listening support and create an unshakable movement. More and more carers and citizens want to make this difference and are joining us in the movement to build collective capacity to support carers of all ages when they need it in a way that works for them.

Our combination of person-centred, strength-based, outcome-focused approaches that weaves together individuals, communities and statutory agencies is acquiring a national reputation. What is far more important is the feedback from carers like Hayley:

‘…I've found such positive empowering support in Credu!! Credu’s commitment to carers has been life changing. Giving us a voice, a platform, a purpose, to dare to look forward and believe again in ourselves...I no longer feel like I'm a tick box problem. I feel like Hayley again….’

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Credu Supporting Young and Adult Carers Limited

Report of the trustees

For the year ended 31 March 2022

Objectives, activities and achievements for the public benefit

Credu’s purpose

For all young and adult carers to enjoy a good quality of life, be recognised, valued and have choices, voice and influence.

Credu developed its triple mission in 2015 / 16 through many conversations with carers and other stakeholders. We regularly reflect on whether we need to update the mission, but are finding that the mission is still as relevant. What is changing is how we deliver on the mission. As we collaborate with carers, we learn and adapt our methods to work with purpose and principle.

Credu’s triple mission

Mission one: Empowered carers and families that feel listened to, understood, able to make informed choices and able to move towards life enhancing outcomes .

We are in contact with 5,911 carers of whom we gave direct support to 2,549 people. 25% of the carers we gave direct support to are under 12 years old, 24% 12 – 17 years, 36% are of working age and 15% are over 65 years.

The key themes for young carers have been emotional support, education, health & wellbeing, family relationships, respite, social connections/friendships and developing a more manageable caring role.

For adult carers, key themes that have mattered most to them include: managing the caring role, mental health & wellbeing, care/support for dependent finance/benefits, information for caring role, planning for the future.

With additional funding from Welsh Government via Carers Trust to support carers with the fallout of the pandemic, we were able to give additional specific support for 824 families and urgent financial assistance to 324 families. These responses illustrate the level of challenge carers are facing, and the difference support makes:

‘I hope u know how much difference u have made to our lives since we have known u. I’m sorry I haven’t made that clear before. I have struggled like I never thought I would ….I didn’t know who I was and had a breakdown….Taking control actually took it out of me.’

‘honest to god it saved our life, I shopped 4 times, I used my head it lasted us over a month. I didn't expect it I thought we would get £40. I fed the dogs. It was amazing. It meant we could pay our electric bill.’

This person went on to say they wanted to volunteer for Credu.

‘Thank you a million…. Honestly it’s made me cry, the kids have been asking why there’s no fresh fruit in and yoghurts anymore. They’ll be absolutely made up’.

‘Thank you so much I was able to buy ….food to last. I am honestly so very grateful to you …. I don’t think you will ever realise how much.'

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Credu Supporting Young and Adult Carers Limited

Report of the trustees

For the year ended 31 March 2022

Mission two: Connected caring communities that are supportive and enabling of carers and their families .

We will work to help achieve this by:

Our community of carers connect both across different parts of Wales in person and on-line with a range of arts and other activities and thematic discussions.

We held 1,248 peer support, training sessions and activity group sessions and, in spite of uncertainties around Covid, our first Carers Festival – The Credu Big Weekend. This was coproduced and enjoyed by hundreds of carers of all ages and is set to become an annual event. Carers gave feedback that this event was meaningful because they could come along with their loved ones with illnesses, disabilities and conditions and not stand out from the crowd, facilities were accessible and they could relax and enjoy collective respite.

Volunteering increased by 42% and we now have over 158 volunteers.

We supported carers in communities of place across the areas where we work, and have developed different ways of connecting with their communities and took action on what mattered most to them. For example, in Prestatyn, young carers are working towards a Community Garden that supports wellbeing of all members of the community; and in Ceredigion communities around Devil’s Bridge have worked with our freelance community developer to explore ways of connecting and getting to know each other. In Ystradgynlais, we coproduced a community building plan which has led to increased community activity designed to increase connection, activity and wellbeing. For the latter project, we were one of three organisations in Wales chosen by Nesta to explore People Powered Change and the learning from the project has been shared across Wales and the UK. Carers from Welshpool visited Ystradgynlais and recruited a Community Development Intern funded by the Rank Foundation. They have started a Community Hive, and are experimenting with ‘pop up pubs’ to give young people with disabilities and health challenges a stepping stone into mainstream social life.

Because carers have expressed interest in supporting other carers within their own communities, we have shared the skilled listening training that all Credu staff and volunteers access. This innovation has led to increased confidence within communities to support each other more deeply.

Steady uptake of the young carers ID Card across Wrexham, Conwy and Denbighshire and the development of a new ID Card for Powys. Both schemes link with the National ID Card programme, initiated in the previous year, by young carers from North Wales.

Carers have co-produced 4 magazines full of stories and tips from carers of all ages. The feedback has been extremely positive – especially for carers who are not accessing direct support at the moment but still want to feel connected.

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Credu Supporting Young and Adult Carers Limited

Report of the trustees

For the year ended 31 March 2022

The awareness raising activity across all areas has been strong, whether raising awareness in supermarkets or schools. This is a key priority for carers and the Awareness Raising Project has facilitated carer engagement in developing materials, information resources and a new website for the whole organisation.

Interestingly, in the last quarter, in Powys, the team leader has joined the adult social services allocation meetings. This has enabled the recognition of more carers and referrals trebled as a result. The project has linked with Powys Teaching Health Board to coproduce a high-profile carers Conference within the health board and launching a new Carers in Hospital ID card that enables carers to be recognised and collaborated with in medical settings. With carers, we have delivered awareness raising sessions to all GP clusters throughout the county to keep raising awareness and support.

There is also a significant development in raising awareness of and support for carers in health settings in Ceredigion. The Hywel Dda Health board have commissioned us to employ a carers officer in the local hospital, raising awareness of support among staff and patients. This has been successful in spite of the challenges of Covid because there are cases where hospital discharge has been successful because of this post. They have now committed to almost doubling their funding for us to employ two workers in the next year.

Mission three: Carers have a strong voice in services that impact upon their lives.

In Powys, we are commissioned to support young and adult carer participation on the Carer’s Steering Group of the Regional Partnership Board which influences services and commissioning within Health and Social Services. This group has influenced the development of a Young Carers in Schools policy and the Young Carers ID Card. They are also monitoring the Powys Respite and Awareness Raising projects. Credu also hosts an Engage to Change forum as well as Adult Carers and Young Carers Forums. In addition 3 young carers ‘voice residentials’ and two ‘All Powys Carers’ face to face events have engaged carers in a range of different ways shaping our work and our priorities and influencing local services.

Young and Adult Carers Forums across our WCD Project and Powys project are going from strength to strength. The Young Carers Forum, having launched the ID Card in the previous year, have promoted it and have met with a range of Welsh Government politicians to set out what matters most to them – particularly around raising awareness and support within education settings. One of the forum members for example has taken part in a presentation to address Prestatyn Rotary. She attended online, making a massive impact on the audience. She has also been interviewed for a piece on young carers for The Times newspaper. See the link https://swlondoner.shorthandstories.com/the-silent-soldiers/index.html. Other young carers took part in interviews for Young Carers Action Day; raising awareness and inspiring people in equal measure.

In Ceredigion the context is very different as Carers Forum is facilitated by the local authority there via which we get a sense of priority and direction. However, one of the adult carers groups has become very interested in exploring carers challenges and issues; we aim to support this and grow opportunities for carers to have a strong voice and influence.

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Credu Supporting Young and Adult Carers Limited

Report of the trustees

For the year ended 31 March 2022

The emerging priorities for carers across the board are:

Public benefit statement

Further to the review of activities during the year included within this trustee report, we confirm we have complied with our duty to have due regard to the Charity Commission's public benefit guidance when exercising our powers or duties to which the guidance is relevant.

Financial review

Principal funding sources

Principle funding sources for the period include contracts from the local authorities in which we work: Ceredigion, Conwy, Denbighshire, Powys and Wrexham. These contracts enable us to have an infrastructure of support in each area but additional funds from grants and donations are incredibly important to being able to do meaningful work. These range from donations from private individuals, to grants from trust funds such as Esmee Fairbairn, Tudor Trust, Steve Morgan Foundation, Waterloo Foundation and Children in Need to government grants from the Integrated Care Fund and Carers Support Fund, via Carer’s Trust Wales.

Financial review

Total income for the year was £1,647,015 (2021: £1,641,636). Of this £869,142 (2021: £1,000,825) related to project restricted activities. Direct expenditure for the year was £1,536,409 (2021: £1,393,446). A surplus of £101,606 (2021: £248,190) was made in the year. At 31 March 2022 total funds were £907,784 of which £499,110 represented restricted funds (2021: £797,178 of which £467,616 represented restricted funds).

Reserves policy

The reserves policy dated 2019, sets out a dynamic approach to reserves that considers our liabilities, in the worst-case scenario of our organisation having to close. This includes redundancy amounts, leases and commitments over 12 months. This financial year, our liabilities were calculated to be £159,855.

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Credu Supporting Young and Adult Carers Limited

Report of the trustees

For the year ended 31 March 2022

The unrestricted reserves held by the charity at 31 March 2022 amounted to £408,674. Free reserves are calculated from unrestricted funds excluding fixed assets of £56 giving free reserves of £408,618.

The charity has been reviewing its investment policy and is planning on making investments in the next financial year.

Fundraising

We carry out fundraising internally and it is a major part of the Chief Executive Officer's role, who has been very successful in the past. Local funding projects are sought and drafted by team leaders. Outreach workers’ local relationships result in small local donors for local activities and funds on behalf of individual carers and young carers.

We are not currently subscribed to any fundraising standards, but are members of The Charity Retail Association and seek advice and guidance from the Fundraising Regulator website as well as support from local County Voluntary Associations and Carers Trust.

We have received no complaints about our fundraising activities and our current fundraising activities are low risk to vulnerable people and children.

Plans for future periods

The plan over the next year is to continue working on the triple mission strategy as it still aligns with what we hear matters most to carers.

MISSION 1: Strength based, person centred, outcome focused support to carers and their families to help people to move towards life enhancing outcomes.

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Credu Supporting Young and Adult Carers Limited

Report of the trustees

For the year ended 31 March 2022

MISSION 2: Supporting carers to create connected and caring communities that are supportive and enabling of carers and their families.

To build on this we need to:

MISSION 3: Amplifying carers' voices for influence and ACTION!

Going forward we need to:

Build on deep, collaborative relationships with other local and national organisations such as Cross Roads North Wales, Carers Trust West Wales, Brecon and District (and other local) Mind, CAB, Age Cymru, Hahaf, Young Carers Academy, All Wales Forum, Arts Connection, Wildlife Trusts, The Workhouse, Wrexham Sounds and many primary and secondary schools - we see other organisations as fundamental strengths within our community and along with carers develop relationships with them to expand support for carers.

Improve our internal systems with a focus on:

We have won a tender to support young carers in Ceredigion. We will be setting up this project from 1 April in the next financial year.

9

Credu Supporting Young and Adult Carers Limited

Report of the trustees

For the year ended 31 March 2022

Risks

The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.

It is clearly impossible to make any reasoned predictions about the impact of Covid and the Cost of Living Crisis. The trustees are confident that the organisation is well placed to seek resources to support carers through the challenging period. Meeting increased demand for the existing services will be a continuing challenge.

Statement of responsibilities of the trustees

The trustees (who are also directors of the charity for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (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 charity and of the income and expenditure of the charity for that period. In preparing those financial statements the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees 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.

In so far as the trustees are aware:

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

10

Credu Supporting Young and Adult Carers Limited

Report of the trustees

For the year ended 31 March 2022

Auditors

Godfrey Wilson Limited were re-appointed as auditors to the charitable company during the year and have expressed their willingness to continue in that capacity.

Approved by the trustees on 8 December 2022 and signed on their behalf by

John Raftree - Trustee

11

Independent auditors' report

To the members of

Credu Supporting Young and Adult Carers Limited

Opinion

We have audited the financial statements of Credu Supporting Young and Adult Carers Limited (the 'charity') for the year ended 31 March 2022 which comprise the statement of financial activities, balance sheet, statement of cashflows and the related 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, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

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 Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity 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 charity'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 auditor’s report 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.

12

Independent auditors' report

To the members of

Credu Supporting Young and Adult Carers Limited

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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of the trustees

As explained more fully in the trustees’ responsibilities statement set out in the trustees’ report, the trustees 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 they 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 charity’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 charity or to cease operations, or have no realistic alternative but to do so.

13

Independent auditors' report

To the members of

Credu Supporting Young and Adult Carers Limited

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 an auditor’s report 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.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The procedures we carried out and the extent to which they are capable of detecting irregularities, including fraud, are detailed below:

(1) We obtained an understanding of the legal and regulatory framework that the charity operates in, and assessed the risk of non-compliance with applicable laws and regulations. Throughout the audit, we remained alert to possible indications of non-compliance.

(2) We reviewed the charity’s policies and procedures in relation to:

(3) We inspected the minutes of trustee meetings.

(4) We enquired about any non-routine communication with regulators and reviewed any reports made to them.

(5) We reviewed the financial statement disclosures and assessed their compliance with applicable laws and regulations.

(6) We performed analytical procedures to identify any unusual or unexpected transactions or balances that may indicate a risk of material fraud or error.

(7) We assessed the risk of fraud through management override of controls and carried out procedures to address this risk. Our procedures included:

▪Testing transactions that are unusual or outside the normal course of business.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. Irregularities that arise due to fraud can be even harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

14

Independent auditors' report

To the members of

Credu Supporting Young and Adult Carers Limited

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 auditor’s report.

Use of our report

This report is made solely to the charityʼs 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 charityʼs members those matters we are required to state to them in an auditorʼs 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 charityʼs members as a body, for our audit work, for this report, or for the opinions we have formed.

Date: 8 December 2022

Rob Wilson FCA (Senior Statutory Auditor)

For and on behalf of:

GODFREY WILSON LIMITED

Chartered accountants and statutory auditors 5th Floor Mariner House 62 Prince Street Bristol BS1 4QD

15

Credu Supporting Young and Adult Carers Limited

Statement of financial activities (incorporating an income and expenditure account)

For the year ended 31 March 2022

Note
Income from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investments
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
7
Net income
Transfers between funds
Net movement in funds
8
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Restricted
£
27,649
838,674
2,819
-
869,142
-
852,408
852,408
16,734
14,760
31,494
467,616
499,110		 Unrestricted
£
4,106
706,718
67,045
4
777,873
69,812
614,189
684,001
93,872
(14,760)
79,112
329,562
408,674		 2022
Total
£
31,755
1,545,392
69,864
4
1,647,015
69,812
1,466,597
1,536,409
110,606
-
110,606
797,178
907,784		 2021
Total
£
33,950
1,583,599
23,862
225
1,641,636
68,149
1,325,297
1,393,446
248,190
-
248,190
548,988
797,178

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in Note 15 to the accounts.

16

Credu Supporting Young and Adult Carers Limited

Balance sheet

As at 31 March 2022

Note
Fixed assets
Tangible assets
11
Current assets
Debtors
12
Cash at bank and in hand
Liabilities
Creditors: amounts falling due within 1 year
13
Net current assets
Net assets
14
Funds
15
Restricted funds
Unrestricted funds
General funds
Total charity funds		 £
234,686
787,391
1,022,077
(114,349)		 2022
£
56
907,728
907,784
499,110
408,674
907,784		 2021
£
99
85,260
810,872
896,132
(99,053)
797,079
797,178
467,616
329,562
797,178

These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies' regime.

Approved by the trustees on 8 December 2022 and signed on their behalf by

John Raftree - Trustee

17

Credu Supporting Young and Adult Carers Limited

Statement of cash flows

For the year ended 31 March 2022

Cash used in operating activities:
Net movement in funds
Adjustments for:
Depreciation charges
Dividends and interest from investments
Decrease / (increase) in debtors
Increase / (decrease) in creditors
Net cash provided by operating activities
Cash flows from investing activities:
Dividends, interest and rents from investments
Net cash provided by investing activities
Increase in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 2022
£
110,606
43
(4)
(149,426)
15,296
(23,485)
4
4
(23,481)
810,872
787,391		 2021
£
248,190
42
(225)
85,409
(46,689)
286,727
225
225
286,952
523,920
810,872

The charity has not provided an analysis of changes in net debt as it does not have any long term financing arrangements.

18

Credu Supporting Young and Adult Carers Limited

Notes to the financial statements

For the year ended 31 March 2022

1. Accounting policies

a) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Credu Supporting Young and Adult Carers Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

b) Going concern basis of accounting

The accounts have been prepared on the assumption that the charity is able to continue as a going concern, which the trustees consider appropriate having regard to the current level of unrestricted reserves. There are no material uncertainties about the charity's ability to continue as a going concern.

c) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from the 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.

Income received in advance of provision of contracted services, trips, and events is deferred until criteria for income recognition are met.

d) Donated services and facilities

Donated professional services and donated 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 the economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised.

On receipt, donated professional services and donated 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.

19

Credu Supporting Young and Adult Carers Limited

Notes to the financial statements

For the year ended 31 March 2022

e) 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.

f) Funds accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.

g) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

h) Allocation of support and governance costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. These costs have been allocated in full to expenditure on charitable activities which is considered to be reflective of the activities of the charity in this period.

i) Tangible fixed assets

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Furniture and equipment 33.3% on cost Office equipment 33.3% on cost Computer equipment 33.3% on cost

j) Stock

The charity holds donated stock in two charity shop retail outlets. This stock is comprised mainly of donated clothing and has not been valued in the accounts on the basis that it would be impracticable to do so.

k) 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.

l) 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.

20

Credu Supporting Young and Adult Carers Limited

Notes to the financial statements

For the year ended 31 March 2022

m) Creditors

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.

n) Financial instruments

The charitable company 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 with the exception of bank loans which are subsequently recognised at amortised cost using the effective interest method.

o) Pension costs

The company operates a defined contribution pension scheme for its employees. There are no further liabilities other than that already recognised in the SOFA.

p) Foreign currency transactions

Transactions in foreign currencies are translated at rates prevailing at the date of the transaction. Balances denominated in foreign currencies are translated at the rate of exchange prevailing at the year end.

q) Termination payments

Where an employee receives a termination payment, the cost is recognised at the date that the employee is notified.

r) Accounting estimates and key judgements

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The 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 if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.

Depreciation

As described in note 1(i) to the financial statements, depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. Depreciation rates in operation during the current and prior period are described above, in note 1(i).

21

Credu Supporting Young and Adult Carers Limited

Notes to the financial statements

For the year ended 31 March 2022

2. Prior period comparatives: statement of financial activities

Income from:
Donations and legacies
Charitable activities
Other trading activities
Investments
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net income
Transfers between funds
Net movement in funds
Income from donations and legacies
Donations
Prior period comparative:
Donations		 Restricted
£
£
2,325
31,625
992,674
590,925
5,826
18,036
-
225
1,000,825
640,811
-
68,149
906,565
418,732
906,565
486,881
94,260
153,930
2,202
(2,202)
96,462
151,728
Restricted
£
£
27,649
4,106
Restricted
£
£
2,325
31,625
Unrestricted
Unrestricted
Unrestricted		 2021
Total
£
33,950
1,583,599
23,862
225
1,641,636
68,149
1,325,297
1,393,446
248,190
-
248,190
2022
Total
£
31,755
2021
Total
£
33,950

3. Income from donations and legacies

22

Credu Supporting Young and Adult Carers Limited

Notes to the financial statements

For the year ended 31 March 2022

4. Income from charitable activities

Core contracts
Grants
Trip and event fees
Total income from charitable activities
Prior period comparative:
Core contracts
Grants
Total income from charitable activities		 Restricted
£
£
-
691,718
838,165
15,000
509
-
838,674
706,718
Restricted
£
£
-
590,925
992,674
-
992,674
590,925
Unrestricted
Unrestricted		 2022
Total
£
691,718
853,165
509
1,545,392
2021
Total
£
590,925
992,674
1,583,599

5. Income from other trading activities

Fundraising
Retail income
Subletting
Total income from other trading activities
Prior period comparative:
Fundraising
Retail income
Subletting
Consultancy and other sundry receipts
Total income from other trading activities		 Restricted
£
£
2,819
1,751
-
60,634
-
4,660
2,819
67,045
Restricted
£
£
5,826
9,236
-
7,195
-
1,400
-
205
5,826
18,036
Unrestricted
Unrestricted		 2022
Total
£
4,570
60,634
4,660
69,864
2021
Total
£
15,062
7,195
1,400
205
23,862

23

Credu Supporting Young and Adult Carers Limited

Notes to the financial statements

For the year ended 31 March 2022

6. Government grants

The charitable company receives government grants, defined as grant funding for charitable activities from the Coronavirus Job Retention Scheme, The National Lottery Community Fund, Cyngor Sir Ceredigion County Council and another local authority. The total value of such grants in the period ending 31 March 2022 was £553,698 (2021: £523,560). There are no unfulfilled conditions or contingencies attaching to these grants.

7. Total expenditure

Total expenditure
Fundraising expenses
Retail overheads
Staff costs (note 9)
Consultancy costs
Staff travel and subsistence
Other staff costs
Direct project activity
Premises and office costs
Communication and marketing
IT support and software
Legal and professional
Marketing/newsletter
Meeting costs
Bank charges
Depreciation
Accountancy fees
Sub-total
Total expenditure
Allocation of support and
governance costs		 Raising
funds
£
120
26,860
42,832
-
-
-
-
-
-
-
-
-
-
-
-
-
69,812
-
69,812		 Charitable
activities
£
-
-
668,010
18,391
41,527
-
476,128
5,792
20,578
3,721
2,787
-
-
-
-
-
1,236,934
229,663
1,466,597		 Support and
governance
costs
£
-
-
132,175
-
499
2,079
-
84,779
-
-
-
1,301
1,884
292
43
6,611
229,663
(229,663)
-		 2022 Total
£
120
26,860
843,017
18,391
42,026
2,079
476,128
90,571
20,578
3,721
2,787
1,301
1,884
292
43
6,611
1,536,409
-
1,536,409

Total governance costs were £10,072 (2021: £10,032).

24

Credu Supporting Young and Adult Carers Limited

Notes to the financial statements

For the year ended 31 March 2022

7.
Total expenditure
Prior period comparative
Fundraising expenses
Retail overheads
Staff costs (note 9)
Consultancy costs
Staff travel and subsistence
Other staff costs
Direct project activity
Premises and office costs
Communication and marketing
IT support and software
Legal and professional
Marketing/newsletter
Meeting costs
Bank charges
Depreciation
Accountancy fees
Sub-total
Total expenditure
Allocation of support and
governance costs		 Raising
funds
£
16
24,880
43,253
-
-
-
-
-
-
-
-
-
-
-
-
-
68,149
-
68,149		 Charitable
activities
£
-
-
636,843
19,503
16,422
1,139
421,294
2,729
14,795
20,699
2,000
-
-
-
-
-
1,135,424
189,873
1,325,297		 Support and
governance
costs
£
-
-
108,890
-
140
804
-
72,668
-
-
-
482
224
144
42
6,479
189,873
(189,873)
-		 2021 Total
£
16
24,880
788,986
19,503
16,562
1,943
421,294
75,397
14,795
20,699
2,000
482
224
144
42
6,479
1,393,446
-
1,393,446

25

Credu Supporting Young and Adult Carers Limited

Notes to the financial statements

For the year ended 31 March 2022

8. Net movement in funds

This is stated after charging:

Depreciation
Operating lease payments
Trustees' remuneration
Trustees' reimbursed expenses
Auditors' remuneration:
Statutory audit (including VAT)		 2022
£
43
39,378
Nil
Nil
6,120		 2021
£
42
39,685
Nil
224
5,760

No trustees' were reimbursed expenses during the year (2021: training expenses were reimbursed for one trustee as well as trustee meeting costs).

9. Staff costs and numbers

Staff costs were as follows:

Salaries and wages
Social security costs
Pension costs
Redundancy		 2022
£
774,981
50,990
17,046
-
843,017		 2021
£
724,485
46,771
16,445
1,285
788,986

No employee earned more than £60,000 during the year.

The key management personnel of the charitable company comprise the Trustees, Chief Executive Officer, Operations Manager, and Team Leaders. The total employee benefits of the key management personnel were £196,192 (2021: £177,007).

In the prior year, redundancy payments of £1,285 comprised a payment to one staff member for redundancy following the end of the funding for the Connected Generation Project Manager role.

Average head count 2022
No.
44		 2021
No.
43

10. Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

26

Credu Supporting Young and Adult Carers Limited

Notes to the financial statements

For the year ended 31 March 2022

11. Tangible fixed assets

Cost
At 1 April 2021 and at 31 March 2022
Depreciation
At 1 April 2021
Charge for the year
At 31 March 2022
Net book value
At 31 March 2022
At 31 March 2021
12. Debtors
Trade debtors
Accrued income
Prepayments
Other debtors
13. Creditors : amounts due within 1 year
Trade creditors
Accruals
Other taxation and social security
Other creditors		 £
427
328
43
371
56
99
Furniture
and
equipment		 Computer
equipment
£
15,602
15,602
-
15,602
-
-
2022
£
131,632
866
90,476
11,712
234,686
2022
£
70,148
21,710
14,794
7,697
114,349		 Total
£
16,029
15,930
43
15,973
56
99
2021
£
6,119
11,360
59,305
8,476
85,260
2021
£
58,310
24,169
13,084
3,490
99,053

27

Credu Supporting Young and Adult Carers Limited

Notes to the financial statements

For the year ended 31 March 2022

14. Analysis of net assets between funds

Analysis of net assets between funds
Tangible fixed assets
Current assets
Current liabilities
Net assets at 31 March 2022
Prior period comparative
Tangible fixed assets
Current assets
Current liabilities
Net assets at 31 March 2021		 £
-
569,258
(70,148)
499,110
£
-
529,183
(61,567)
467,616
Restricted
funds
Restricted
funds		 £
56
452,819
(44,201)
408,674
£
99
366,949
(37,486)
329,562
Unrestricted
funds
Unrestricted
funds		 £
56
1,022,077
(114,349)
Total
funds
907,784
Total
funds
£
99
896,132
(99,053)
797,178

28

Credu Supporting Young and Adult Carers Limited

Notes to the financial statements

For the year ended 31 March 2022

15. Movements in funds

Restricted funds
Bronglais hospital projects
Care to Connect
Carers fund
Carers involvement project
Carers relief funds - various
Carers representatives
Carers respite - various
Carers Trust - peer support
Ceredigion
Clore
Emergency
Esme Fairbairn
Festival YC
GBS Public Health
Great Ideas/Llechi Glo
ICF Raising Awareness
Individual grants
Lloyds Bank Foundation
Newmor
PAVO Social Value Research
PCC - RPB Engagement
Powys AC
Powys YC
Sub-total restricted funds
The Big Lottery Fund -
Connected Generations
PCC Connecting Carers
Brochure
Powys Community Endowment
Fund
PtHB - Co-production learning
collaboration		 At 1 April
2021
£
15,200
8,703
3,067
344
4,913
949
10,000
51,891
2,457
8,240
6,250
91,640
48,899
-
1,025
-
25,462
1,905
6,311
348
460
265
1,864
13,580
636
6,638
2,161
313,208		 Income
£
-
30,013
-
-
-
-
10,000
161,000
-
62,650
-
233,309
-
5,252
-
11,760
50,000
-
-
-
-
-
-
21,422
-
85,359
-
670,765		 £
(345)
(22,431)
(2,892)
-
-
-
(1,796)
(158,632)
(186)
(17,240)
-
(266,717)
(42,175)
-
-
-
(58,956)
-
-
-
-
-
-
(10,673)
-
(24,276)
-
(606,319)
Expenditure		 £
-
-
-
-
-
-
-
-
-
450
-
2,678
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
3,128
Transfers
between
funds		 £
14,855
16,285
175
344
4,913
949
18,204
54,259
2,271
54,100
6,250
60,910
6,724
5,252
1,025
11,760
16,506
1,905
6,311
348
460
265
1,864
24,329
636
67,721
2,161
At 31 March
2022
380,782

29

Credu Supporting Young and Adult Carers Limited

Notes to the financial statements

For the year ended 31 March 2022

15. Movements in funds (continued)

At 1 April
2021
£
Restricted funds (continued)
Brought forward sub-total
313,208
Rank
35,569
RPB Age Well, Live Well
885
RPB Start Well
2,090
RUPU Conwy & Denbigh
-
Sport Wales
1,500
Sundry donations and fundraising
37,760
Tudor Trust
12,784
Waterloo YC
25,000
WCD
26,820
Windfarm
4,000
Wrexham FC
8,000
Youth Led
-
Total restricted funds
467,616
General funds
329,562
Total unrestricted funds
329,562
Total funds
797,178
Unrestricted funds		 Income
£
670,765
7,978
-
-
11,862
-
10,604
35,000
-
131,354
-
-
1,579
869,142
777,873
777,873
1,647,015		 £
(606,319)
(43,715)
-
-
(10,339)
-
(9,475)
(28,720)
(22,909)
(126,928)
(4,003)
-
-
(852,408)
(684,001)
(684,001)
(1,536,409)
Expenditure		 £
3,128
400
-
-
-
-
-
-
-
11,229
3
-
-
14,760
(14,760)
(14,760)
-
Transfers
between
funds		 £
380,782
232
885
2,090
1,523
1,500
38,889
19,064
2,091
42,475
-
8,000
1,579
At 31 March
2022
499,110
408,674
408,674
907,784

Funds with common purposes have been group together in the current year. Comparatives have not been grouped and are presented in line with the prior year accounts.

Purposes of restricted funds

The Big Lottery Fund - Connected Generations

The Connected Generation project is funded by the Big Lottery Fund for people over 50 across Powys. Credu is the lead organisation across five partners to deliver individual support, community activities, events, advice and information.

Bronglais hospital projects

Funding to raise awareness of and build support for staff at Bronglais hospital who are carers as well as for the families of patients.

Carers Trust - peer support

A fund that support carers peer support group.

30

Credu Supporting Young and Adult Carers Limited

Notes to the financial statements

For the year ended 31 March 2022

15. Movements in funds (continued) - Purposes of restricted funds (continued)

Care to Connect

Funding for freelance services to support two communities to build infrastructure for care and support.

Carers fund Funding towards an adult carer group.

Carers involvement project Funding from Powys Teaching Health Board to support consultation on School of Carers and Volunteers.

Carers representatives To support young carers representation on the Regional Partnership Board. Ceredigion Funding for carer support activities in Ceredigion. This includes one to one support, peer support and respite. Clore Clore Social Leadership - Bursary for J O'Hara Jakeway to be a Clore Social Fellow. Emergency Funding for shortfalls in emergency funding for carers and to cover staffing shortfalls, towards staff and carer wellbeing through the pandemic, grants for carers facing financial hardship, and for increased communications for carers. Esme Fairbairn 3 year Grant funding from The Esmee Fairbairn Foundation for supporting young carers in rural schools. Festival YC Funding from Welsh Government and other donations for All Wales Young Carers Festival. GBS Public Health Funding for capacity to participate in a co-production project. Great Ideas/Llechi Glo Funding provided by the Great Ideas Community Fund to part cover the salary of a community leader in Powys. ICF Raising Awareness Funding from the Integrated Care Fund (ICF), through Powys CC to raise awareness among hard to reach communities, health settings and intergenerational work in Powys.

Individual grants Funding from Welsh Government towards individual grants for carers facing financial hardship.

Lloyds Bank Foundation Grant funding for adult carers around the themes of transition, spent on outreach worker capacity, training and resources. Newmor Donation towards media training for young adult carers. PAVO Social Value Research Funds from Powys County Council via PAVO to research Newtown Community opportunities.

31

Credu Supporting Young and Adult Carers Limited

Notes to the financial statements

For the year ended 31 March 2022

15. Movements in funds (continued) - Purposes of restricted funds (continued) PCC Connecting Carers Funding towards the publishing of a bilingual booklet for carers Brochure in Powys. PCC - RPB Engagement Engaging with adult carers to understand key issues that matter to them and to open opportunities for carers to sit on the RPB and sub-groups. Powys AC One to one support, group support funded by Powys CC and Powys Teaching Health Board for Powys adult carers. Powys Community Endowment Respite support for Carers in Powys. Fund Powys YC One to one support, group support funded by Powys CC and Powys Teaching Health Board for Powys young carers. PtHB - Co-production learning Funding for a variety of listening events with carers and report collaboration to Powys Teaching Health Board. Rank Internship programmes for young adults. RPB Age Well, Live Well Funding provided through Powys CC on behalf of the Regional Partnership Board to support carer involvement on the Age Well/Live Well Partnership Boards. RPB Start Well Funding provided through Powys CC on behalf of the Regional Partnership Board to support carer involvement on the Carers Steering Group and Start Well Partnership Board. RUPU Conwy & Denbigh Local Authorities and Betsi Cadwaladr University Health Board funding to provide wellbeing activities with young carers. Sport Wales A Sport Wales Community Chest Grant to sports equipment for use by brecon young carers. Sundry donations and Sundry donations and fundraising are towards various carers fundraising groups and trips and money raised by other smaller community organisations for the benefit of carers. Tudor Trust Funding for two part-time outreach workers to undertake action research into place-based approaches to support young carers. Waterloo YC Funding towards an outreach worker's salary for one year. WCD Funding for young carers for trips and activities. Windfarm Funding provided towards young carers support in and around Llandrindod Wells.

32

Credu Supporting Young and Adult Carers Limited

Notes to the financial statements

For the year ended 31 March 2022

15. Movements in funds (continued) - Purposes of restricted funds (continued) Wrexham FC Donation from Wrexham Football club to

Donation from Wrexham Football club to be used towards North Wales young carers festival in collaboration with Action for Children and NEWCIS.

Youth Led

Funding provided towards young carers support in and around Llandidndod.

Transfer between funds

All transfers in the year relate to instances where the full cost of the project is not covered by restricted funding so a transfer is made from unrestricted funding to cover the extra costs.

Prior period comparative

Prior period comparative
At 1 April
2020
£
Restricted funds
Carers Relief Funds - Various
949
830
Sundry donations and fundraising
30,805
Individual grants
805
Rank Aspire
1,832
Rank Foundation
34,900
2,731
15,707
GBS Public Health
1,025
Clore
6,250
Newmor
348
Lloyds Bank Foundation
11,311
Pears Explore More Fund
527
1,515
DVSC - ICF
644
PCC Connecting Carers
265
2,161
35,733
Tudor Trust
-
AVOW Youth Led
39
BCUHB Schools
4,806
Carers Respite
3,314
Carers Trust MH and Wellbeing
286
622
PCC - RPB Engagement
1,864
Llanwrst Youth Project
245
2,178
Carers Respite 2019
1,364
Sub-total restricted funds
163,056
PCC Youth Service/Youth Bank
PtHB learning collaboration
Rank: Time to Shine 2019
Rank: Time to Shine 2020
Santander Discovery Foundation
The Big Lottery Fund -
Connected Generations
Welsh Ambulance Services
Betsi Cadwalladr University
Health Board		 Income
£
-
-
6,985
1,200
36,521
-
-
33,949
-
-
-
-
-
-
-
-
-
177,930
37,000
-
-
-
-
-
-
-
-
-
293,585		 £
-
-
(30)
(100)
(32,330)
(24,932)
-
(32,809)
-
-
-
(5,000)
(527)
(70)
-
-
-
(194,648)
(24,216)
(39)
-
-
(286)
(622)
-
(245)
-
-
(315,854)
Expenditure		 £
-
-
-
-
-
-
(2,731)
2,731
-
-
-
-
-
-
-
-
-
(3,815)
-
-
-
(3,314)
-
-
-
-
-
(1,364)
(8,493)
Transfers
between
funds		 £
949
830
37,760
1,905
6,023
9,968
-
19,578
1,025
6,250
348
6,311
-
1,445
644
265
2,161
15,200
12,784
-
4,806
-
-
-
1,864
-
2,178
-
At 31 March
2021
132,294

33

Credu Supporting Young and Adult Carers Limited

Notes to the financial statements

For the year ended 31 March 2022

15. Movements in funds (continued) - Prior period comparative (continued)

At 1 April
2020
£
Restricted funds (continued)
Brought forward sub-total
163,056
636
Tesco (Groundwork UK)
1,000
PCC - ICF YC Well-Being
4,842
Esme Fairbairn
45,602
PAVO Youth Led
100
PCC Adult Engagement
9,950
PAVO Social Value Research
460
Powys AC:Wales Coop
3,630
Bronglais Hospital Project
1,129
Bronglais Working Carers
2,500
Carers Respite 2020
9,031
Carers Trust Explore More
840
Carers Trust Peer Support
1,477
Creative Sparks
715
Creative Wellbeing
2,196
GCC Donations and Fundraising
899
Great Ideas
2,166
Life After Caring
7,341
Sport Wales
1,500
RPB Age Well, Live Well
885
RPB Start Well
2,090
Steve Morgan Foundation
-
Children in Need 2019
1,352
ICF Raising Awareness
29,233
ICF Respite 2019
78,524
Additional Emergency Fund
-
BCU Additional Emergency Fund
-
Care to Connect
-
Carers Fund
-
Carers Involvement Project
-
Carers Representatives
-
Emergency:Esme Fairbairn
-
Emergency:Carers Trust EFL
-
Emergency:Carers Trust £10K
-
Emergency:PAVO
-
Emergency:WCVA
-
-
Sub-total restricted funds
371,154
Emergency:Carers Trust
Directs Carers Awards &
Support Services
Powys Community Endowment
Fund		 Income
£
293,585
-
1,166
-
45,314
-
-
-
-
24,000
-
-
-
1,200
-
-
-
9,066
-
-
-
-
23,283
37,660
50,000
122,000
7,500
7,500
17,500
375
4,913
10,000
23,106
7,500
10,000
350
49,730
141,625
887,373		 £
(315,854)
-
-
(2,015)
(42,017)
-
-
-
-
(18,921)
(5)
(1,414)
(840)
(220)
-
(2,462)
-
(11,232)
-
-
-
-
(26,518)
(41,528)
(53,771)
(148,633)
(998)
-
(14,433)
(31)
-
-
(6,560)
(4,623)
(8,690)
(70)
(34,157)
(112,133)
(847,125)
Expenditure		 £
(8,493)
-
-
-
-
-
-
-
-
-
-
(7,617)
-
-
-
266
-
-
-
-
-
-
3,235
2,516
-
-
-
-
-
-
-
-
-
-
-
-
-
-
(10,093)
Transfers
between
funds		 £
132,294
-
636
2,166
2,827
48,899
100
9,950
460
3,630
6,208
2,495
-
-
2,457
715
-
899
-
7,341
1,500
885
2,090
-
-
25,462
51,891
6,502
7,500
3,067
344
4,913
10,000
16,546
2,877
1,310
280
15,573
-
-
29,492
At 31 March
2021
401,309

34

Credu Supporting Young and Adult Carers Limited

Notes to the financial statements

For the year ended 31 March 2022

15. Movements in funds (continued) - Prior period comparative (continued)

At 1 April
2020
£
Restricted funds (continued)
Brought forward sub-total
371,154
Emergency:Waterloo Foundation
-
-
-
Singing Group
-
Waterloo YC
-
WCD YC:Carers Respite
-
Windfarm
-
Wrexham FC
-
Total restricted funds
371,154
General funds
177,834
Total unrestricted funds
177,834
Total funds
548,988
Unrestricted funds
Emergency: Powys CC Mach
Shop
Emergency: Powys CC Brecon
Shop		 Income
£
887,373
15,000
23,000
23,000
1,207
25,000
14,245
4,000
8,000
1,000,825
640,811
640,811
1,528,184		 £
(847,125)
(3,440)
(23,000)
(23,000)
(1,207)
-
(8,793)
-
-
(906,565)
(486,881)
(486,881)
(1,334,006)
Expenditure		 £
(10,093)
-
-
-
-
-
12,295
-
-
2,202
(2,202)
(2,202)
-
Transfers
between
funds		 £
401,309
11,560
-
-
-
-
-
25,000
17,747
4,000
8,000
At 31 March
2021
467,616
329,562
329,562
797,178

16. Operating lease commitments

The charitable company had operating leases for land, property, communications and printing equipment at the year end with total future minimum lease payments as follows:

Amount falling due:
Within 1 year
Within 1 - 5 years		 2022
£
26,154
11,829
37,983		 2021
£
24,774
11,550
36,324

17. Related party transactions

There were no related party transactions in the current or prior period.

35