Ch•ity reg18trakn 1104191 reg18 rnnthr04176018 (England and Walesy THE BEVAN FOUNDATION ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 RCHII
THE BEVAN FOUNDATION LEGAL AND ADMINISTRATIVE INFORMATION TTUSI Cllr A Hunt Ms M L Hughes Bishcy J D Davies MrJBch0 Prof S A Po¥yer Ms T Stirling MsSTaj Mr D S Fort)es Mr R A Wllllams Mr G P B Thompson Mrs R Begum Mrs S R Dubash MrTROw8n Dr L O Shobiye Mr J M Imperato Ms V Sugar (Appointed 15 June 2023) (Appolnted 2 July 2024) (Appointed 2 July 2024) (Appointed 2 July 2024) {Appolnted 2 July 2024) (Resigned 15 November 2023) (R8sion8d 15 November 2023) Mr D S Fort)ès Charfty number 1104191 Company number 04175018 PrfrKlpal addr888 145a High Slreet Merthyr Tydfil Mid Glamorgan UK CF47 8DP RCH Accounlants Lim+ted Wellfield House Temple Street Llandrlndod Wells Powys LD15HG
THE BEVAN FOUNDATION CONTENTS Twslees, report Independent examinerfs rep 10 Ststemenl of financial acllvilie6 11 Balance sheet 12 Notes lo the financlal Staten16 13-24
THE BEVAN FOUNDATION TRUSTEES REPORT (INCLUDING DIRECTORS, REPORn FOR THE YEAR ENDED 31 MARCH 2024 Chalrf8 foreM)rd This year has be.en one of solld progress for Ihe Bevan Found81k)n. I was pleased to lake the poslllon of chalr part way through Ihe financial year and proud Ihat we have tKJilt (m Ihe solid fOuFKlatD left by my predecessor, Vivienne Sugar. Thè foundallon Is nr)w on a stronger financial footlng. Ihanks lo ong01r svpport from our loyal don0 and 5ubsuibers and several major trusts and foundallons, vthich h8ve provided tfuctal multi-year gwants lowafds some of our Wofk on povety 8nd 8ccess lo juslice. These grants have been followlng years of delivering hlgh-qualty, evltsend-ba8ed pollcy research that have eamed thè of the funders. Funding, however, is a challenge that never ends. Raising money for the ce costs thal - Ilterally- keep the lighis on Is 8lways a partlcular challonge. We have Len feylenll ways grow our Incfjme and our supporter base - If you can share with others the good work done by the found8tion and UTge them to support us loo. Ihen please do so. Fundlng Is a means. not an end, however. 11 Is knportanl because It enabJe8 US to carry out our m188ion, 8nd l 8m pleased thal we havo made an Impaci this year In Improvlng people's hves. Ihanks to the dedlcailon and hard work of Ihe foundaiion Staff. Through our Inslghis and Influenclng. we have d8llver8d an expansiM to thè Discr8iM)nary *88K$t8& Fund helplng people In severe hardship, an upllft io Local Housing Allowance helping people to afford Iheir rent. and Ihè Implement8tlon of our Idea ol a Welsh Benefits System making it easier fot people lo ceSS help Ih8y need. We have put Issues on the apenda lor polty and deth1{) rnake. IncludlNJ Cfeatlon sultablo perrn8nent hom8s lor people In lemporary aceommodalion, access lo good quallty, Ilmety legal advice on immigt81ion for people witri uncert8ln status (includes many people who have Ilved In W81es legally loi decades), al the polon11 beneftts and hamis of onllne money advlce apps. Looklng ahead, we have lust r8fr88hed the boafd. 8ppolnllng several new trusie88 fioffl a rango of b8¢kground$ who VAII bdng a range of fronilino experience lo Ihe foundallon. DIverf.ng Ihe board In background, experien and ihought 8 priorily for me com5ng in as chair. We had an Impressive wray of applkailorfj the (voluntary) tfugtee role and l am grateful to everyone who took the Ilme to appty. The refshed bn8rd will be developing the foundat5'S new gtralegy In the year ahead 8nd chose four candldates we feel fit our needs golng foard.18M tonfident our gOvernCe and le8dershlp Is in a g(xxl pla. The polltical landscap8 has cthanged. with a new govemment in We8kn1nstw 8nd Ihe prosp8Ct of blgger Seriedd fdlowlng the 2026 elections. Ch8ng8 always creates opportunilies and I lo fornard lo lh8 fournlation usino Ih8m to help creats a fairer. more prosperous and nN)re 8usl8inalAe Wales. Gavln Thompson Chali of trustees
THE BEVAN FOUNDATION TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Annual Report The Iruslees are pleased to present Ihelf ann1 dIrecto, report together wilh the financial stalements for Ihe charlty for the year ended 31 March 2024. The report also m8els the requirements for a dlreLtors' reFM)rt and attounts for Companies Act purposes. The financTral Statements comply vAtt) the Chariiles Act 2011, Ihe Companies Act 21NJ6, the Memotandum and Artlcles of AssoGFalion, and Accounltng and Repixthg by Charille& SL8tement of Recommended Practice. The prse8 of the ch8rtty are: l. To advance In Wales the educatlon of Ihe publk In the pxonomic, soclal and poHtlrnl sclences and thelr 8ffeLI on publlc pollcy and Ihe polty meklng process. 2. To promthe reseatch In these fields and dlssemlnate Ihe useful resuhs of such research. Over the ye8r. the Bevan Foundallon has fulfilled Ihese purposes by providing high quality. independent 8nalysls ol 8oclal and economlc Irends In Wvéles. and by offerlng imp8ciful and deliveiable proposals for progressive ch8we. The Tru6lees are dellghled that our Inslghts h8ve Infomied many organSsalions' Mjrk and thal many of our recommendatlons ale belng Implemen*d ty ihe Welsh Governrnenl. Ioc81 authofiiles. olher charltles and olher organlsallons. In ihls way, Ihe Foundallon maklng a real and lasling difference 10 poverty, Inequality and iDJuslice. Durlng 2023-24, the Twslees have conlinued lo have lull regard to Ihe Charfty Commlsslon's guldance on public benelll. They have ensured ihat the Foundation signlficanlly Increases collecilve krmjwledge and understanding by uslng robust fflethods of da collethion (qu&lllalive and quanlilativel and careful analysis, and by presentlng its rdIng5 10 a broad range of people and organisalions. The FOUndaOn'5 indepeThjen and non-partisan posSllon are valued across the polillcal spectrum as well as by those th no pollltal alleglance. The Truste8s have ensured Iho Found8tioii'S 8Ctivitles ale 8ccesslbl8 to as rnany people as possible. Th8 majority of its publicallons 2nd evenls are fre8 of charge. and 11 there15 8 charge It Is modest whh free places 8vailable for grassroots groups. The Foundailon has Increased its Welsh language outy)ul,8nd Is an acllve conliibutor to Wefsh langu8g8 medla Achlevefflert8 and Perfmr Wllh some changes in funding during the year couW wlth some staff changes, the Fndation'S priority was the successful complellon ol the projects ihal were endlng. and effeUive starts for new projects and the onboardlng offour new 81aff. In lerms of 8Ctlv6iy, the chorlty continued to develop insights and Ideas reduce wverty, partlcularly In respect of having 8 detent, affordable home 8nd havlng enough income to 8fford Ihe essentials, and lo take forward Its work on Immtgratron and human rights. The Twst8es are pleased tllat the tha¥ity very su(ressfully delivered against Ihese plans. The highllghl of the year was the Foundation's impacl, tpthich included persuadlng the Welsh Govemmant to allocale £38rn to help households In acute financiat hardshlp, drivlno forward a new Welsh Beneflls system to stfeamllne acLess to devolved gT8nls end a1kjwans, inloTmlng Ihe UK Govemment's uplift to L(Kal Housing Allowance, and increasing the avall8fAlity of trneS foT local resIdts in holklay hotspots. The Found8tlon also effeclively pui several Issues orto ihe pollcy agenda, as a precursoi to creating chaNJe. These Incluite(I Ihe dlfficultles faced by people whose IMMIg50n status irthdes No Recourse to Public Funds, rlsks to chlklren 8eeklng sanctuary who are unaccompanied, aThJ the urgent need to move people out of iempofary accommodatlon into decent. permanent homes. Th8 Foundailon's success during ihe year wa5 underpinned by a high volvme ol excellent qualily oulpuls. In total, il publlshed nlne substonte, evidence-based rertS (of thIch seven were in Welsh as vftll as English}, elghl stslistical brfeflngs and Iwo olher briefings, and 38 cfflllne artlcks oft knpical issues. Its onllne and I40.face events helped to r&h a wider 8udienc8. wilh 21 seminars, webinars and training sessions being olganised over the year. The Foundation's events and tralninG continued to reath a large audience with online events typically aitraaing at least 50 attendees whlle kn- person sernlnars were mosuy lully book. The Fovnda14on contlnued io make a sbgnirant conlribullon lo public policy, submitting written or oral evldence lo slx Senedd inquiFle5, (me Westminster Select Commlttee and piovidlng Itten respoTbses to three Welsh Government consultations.11 wnlinued Io p8rticip8le in governmeni advlsory or Wor.ng grow. tncluding Welsh Government groups on
THE BEVAN FOUNDATION TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 maximlsing income. fuel )Verty, the green paper on houslrKJ. fuel p)vety and migrani Induslon.11 participated in Ihe Wèlsh Govemment Cabinet Sub-commitlee expert group on the CO-01-11v1ng (yEis. The Foundailon enloyed a high media profile over the year. commentlng In broadc85t 8nd radlo programmes such as BBC Wales, Pollllcs Wales. Breakfast, Drlve Tlme and Wales Today pmgrammes. ITV Wale5 new5. S4C's Newyddlon and Fladlo Cymru's breakfast and evening news proammes.I{ atso secuied 8ensrve dtgital and prinl coveiag8. Includlng in UK ouilels such as the Financial Times and Morntng Slaf, as wdl as Welsh media such as the Westem Mall and Walesonline, BBC News and BBC CymruFyw, Nallon.Cymru, Souih Wales Argus and Many local newspapeis and websit88. Overlhe year its activlty nIred on solving poverty, more and better h(knes, a fairer OnOMy. and Mnmlgration and access to lustth. l. Solvlng P The Bevan Foundatlon was pleas 10 conlinue its partnetship wllh the Joseph Rowntree Foundallon up to De¢efflb8r 2023, and delrghted lo renew li tor three years Irom January 2024. The JRF'5 generous grant puts tho B8van Found81ion's work on 8 more secure fooling, and allowed eXpanSn of the team early In 2024. Mosl imwrtanlly. the fundlng enables Ihe FoyndBdon lo provlde vltal Insights into challenges faced by low4ncome households, make dellverable recommendaliong for change in pollcy and practice, and gchieve posiltrle (Mcomes Ihat ttel) to end Vety. Tha Cl-11¥Ing u18 There was no end io the cost-of-lfvlng Crlsls over the year. Th8 Foundation cfjnllnued to provlde unique inslgh15 through commlsslonlng surveys ffom polllng company YouGov. The resulls were publlshed in Seplember 2023 and March 2024, and Showed that bare geltlng by Is now nomial for around half of all households In Wales. The suNeys generated conslderable Intsrest In th8 medla. serdd and wider &)d afe a key source ol up-to4ale InfoTmaNon on lh8 slandafd of Ilving. The chariiy contrlbuted the surveys, findings and Ils wlder expertise lo the we.lsh Cx)vernment cosl of Ilving èxpert group, chaired by Ihe Firsl Mlnisler, th Its prop08als featuilng promlnenlly in the group's Ilnal report. Its recommend8tions Ihat Ihe Dlscrellonary Asslslance FuThJ (whlch PFovldes emergency cash payments lo people in severe financlal hard8hlp) be enlianced w8re accepted arHI Induded In the Welsh Government's budget for 2024125, resuhlng In Ihou58nd8 morg people In need being able to feceive up lo £31JO in omefgency payments. As a result of Interest by many local aulhorttles and olher lo(xJl organL83llons. the Bevan Foundatlon developed and dellvered a tfainlng programme to enable people to undeTsl8nd poveTty In thelr communllies. The course was well recelved and is conllnuing in 2024125. The chariry was also conYnTrssioned lo uTrJertake IJ Study of pov¥rty in Arfon, by th8 offlce of Hywel Williams MP. The findlngs were launched 81 Ihe Eisted(ffod in 2023. some of th8 recomm8ndallon8 are bew Implemented by local organls8Uons. Managkng monay wlth app8 In recent years new apps have emerged to help people to mage thelf money. The Bevan FoutIOn wa6 pleased to be funded by the Which? Fund, funded by the Consumefs. Assoclalion, lo rovlew the potsfttial hamis aMI bènefils of money management apps. The project began in 2023124 vras paused as a resuli (rf staff changes. and so the maln ouiputs and projeci completion 11 now lake plac* In 21Y24r25. Wgl8h Benefits The Bevan Found81ton d8velqJed Ihe klea of a Welsh Berfits System in 2019 and has slnce secur8d cross-p8ty and bro8d public support for the principle. It published a 'rou18 map. to imeMentInG 3 nevd approach in April 2023, followod by findings on people's experiences of navigating the currenl, Iragmented system In January 2024. Both oulputs are informing the Welsh Governmenl's and k)¢al authoritses, dellvery of a Welsh 8eneflls System.. the Foundation shaped ihe Welsh Government's Wdsh Benefits Charter, which was adopted by all 22 local aulhorities as well as ihe governm8nt Itseff. The FoUndlOn is now represented on several Welsh Government groups overseelng detailed delivery. Chlld povety Chlld poverty was a key focus during the year. tefiecling Ihe Welsh Govwnmert's plans lo produce a new strategy to end child povety. At the stsrt ol the financial year. the Founoallon hold discussicfft5 bmlh Iow4ncome famllks in Caerau and Ety in Cardiff, which were fed into the Welsh Government's Ihinking. Later, Ihe FouratiOn submitted an exlen6ive iesponse lo the Welsh Governmenvs draft Child poverty slralqjy and il also gave evidence lo a Seftedd Commltlee Inqltiry Into th8 subje¢i. As a result of tts viev•B and those of the olhw5. Ihe Ilnal strategy, Issued In January 2024, was substantsally revised. In its responses to the Welsh Government, the Bevan Foundalion said Ihat Ihe stratègy should be targeted on Ihe children and familles at greatest risk of poverty. They indude childrèn in families whose yournJest child is aged 04, who comprise
THE BEVAN FOUNDATION TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 54% of all chlldren in povety. The tharityg Chrt81mas ¥alsed more lh £2,000 knvards further on povety 8mong8t this age group, wilh Ihe findÈngs due for publlcation In autumn 2024. Chlld(¥r• Good qualty, affordable childcare cAn help to uce povety by SUPFrfxb'ng chlld development. enabllng parents to Wrk and helpir¢g low-lncome households wllh costs. Worklng wlth Ihe theph Rownlree Found81ion, the charity undertook a stocl(take of chlldcare Provision In Wales. afKf ieviewed Welsh and UK G(Nernment pdicies on chlldcare. The charity Idenllfted slgnificant gaps in provision for under three-year-olds, despite the Welsh Govemmeni's commilmenl lo extend chlldcaTe lo tw(kyear-olds, and the exduslon of lh8 rnost dl&idvarW thildren from the offer for 34-year-okls. The findSnos were launched In the Senedd In January 2024. and have Inforn)ed a Senedd Commiftee's review of progre86 on recommendation811 has pieviously made. The Bevan Foundallon is Vrt(lng wth other anti-poverty ch8rilles In 2024125 to secufe eL)mmitsnents to extendlng and lmprovlng provision for low4ncome lamlies. As pyrt of Ihe Bevan Foundallon's partnwshSp wllh the Joswh Rownlree Found8lJon, It wlll b& lod¢lng ahead to rxeate ambllt'on and hope for a Wales wilhoth poverty ty Ihe end of the next Senedd lerm. The Found811on is grateful to Wales TIJC fof Its generous donalk)ns iowardg Ihe costs of modell1j the impact of thffetent inteNenlions on household Incomes. whlch. along with the realk)cailon of some Joseph Rufflitree Foundation funding and addiliunal lunding anllcipated from the Welsh Local Goveinment Associallon, Cornmunlty Houslng Cymru and Unlson, will be completed In 2024125. 2. Morn and b8ttdr hom The Foundotlon's work on more and beller hom68 conlirwed Ihanks to the Lloyds Bank Foundation for England & Wale$ and a Nallonal Lollery Community Fund Awards for All gfanl. Local HIng AlOn As Ihe Foundallon's work ffi Local HouslThJ AllovMrLe drew to g close, the charfty conllnued to make the case for the upllft lo LHA rates, kl¢k5tartlng debate among8t Lvg8nis*lons In England 88 well as Wale8. It was very pleased that Ihe Chancellor announced Increase to LHA In his 2023 auiumn slalemenL The Foundallon 81so contrlbuted to Ihe Welsh Govemmenl's green paper on houslng adequacy and feir rents, In partlcular In resp8LI of ren15 and low income households. The paper included th8 Found8tion'5 recommendaknon Ihat landlords Should be compelled to sha¥e how much Ihey ch&rge for rent wlih Ihe Welsh Govefnmeni, a change lch would lead to 8 more accurate LHA ond bettef data on the Welsh rertal ¥n8rkeL The Foufid811on's flndlng8 8180 InfonTred the Senedd Local GwnmeN and Housing Commlttee's Inqulry In housing and homelessness It conirlbuted wrltten and oral eviden and aroued that therels an urgenl need for Ihe Welsh Governmenl lo Increase. the 3upply of socI81 houslng If Ihere is to be an Increase housing aVaI1ty and affordability in Wales The Foundalion's 8vidence on hollday lets, undertaken In 2022r23. contlnued to be influential throughout the yoar, belno relefenced in the Senedd on a number of o¢¢aslons. The Is now havlng 8 rea14vorld Impaa: new second8ry leglslalion introduced by Welsh MlrAslers has given local aulhorilies the power to require a property 0¥er to apply for plannlng peimisslon If Ihey wlsh to redeslgnaie a prlmary dwellw Into 8 holiday let. wllh Gwynedd bebng the firsi lo¢al aulhority to start the required process to make u8e of Ihis power. Discretionary Housing Paymen18 provlde addillonal help wtth IV$ing cosls. s(Anellmes coverlng Ihe shortlall between rent and Loc81 Housing AIIow8nce. Vllth 8 grant from The Nalional Lottery Community Fund, Ihe Foundatlon explored the role of DHPS In helplng to pievenl hcmnelessness and supporting rehouslng, wilh the recommendalloris being published in sufflmer 2023. The charity welcomed the Welsli GoveTnmerTrl's Discrelionary Homelessness PTevenliLm Payment. which provided local aulhofitfes wtlh 8ddltlonal resources and incorporated many d ihe key recommendall(ms mgde. With more than 10,000 households living in tpOrary accommodation, Ihe Bevan Foundailon w8s pleased to secure a new. IhTee-year grant from the Lloyds Bank Foundation for England and Wales Iowafds fjndlng solutions to help people to move on lo 8 permanent home. Workiry in PneIp wilh Shelter Cymfll. the proied began In February 2024 wlth the maln outputs planned for2024125. A key area of work In the Ilrsl yeor is InasIng ihe suppty of social housing. One of ihe barriers to more Social homes is Ihe 3vallabS11ty ol developable land, and the Foundalion Is gratelul lo the Natbnwide Foundation for funding towards work wilh Hnusing Justlce Cymfu on this issue. This proied abo began In February 2024. with the main outputs planned for 2024125.
THE BEVAN FOUNDATION TRUSTEES REPORT(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 3. Economlc re8MlerK• The Bev8n FOUndaOn Conned Sts work on crealkno a fair economy during ihe year. altlK)ugh al 8 lower level of adivily Ihan previously, During the year, the Foundatlon compleled bvork furxjed by the Nomlan Melbum and Barry Amiel Tnjst and the Llpman Miliband Trust, to enable community enterprises in Blaenau Ffestiniog and Ihe Cynon Valley 8re8 to shale good practlcè. The work involved iwo study visits by a small gFOUP of people Involved in social enterprises in each loeAlily, and culmlnaled In publicalion of a multi-media output which documented Ihe group's leaming and made recommendatlons. The p8rliclpants have taken their leafnlng bad( to Ihelr communiltes. are now progressing new community buslness Ide88 as a resuft. 4. Mlgralk>n and Ju8Ic8 The Bev8n Foundalion conllnued its VIr on mlgrallon and lul¢e dutlng the year, wllh Iwo key projects, The rlghts of people subject to immigration control are complex and are chanqlng rapldly - during the year the Illegal mra110n Aci passed, whlle many other reforms came inlo effect Ihrough regulatlons. Access to goThJ quality, Ilmely advlce Is mwe important than ever if people are to be able lo exer(ase Iheit rights. knd whlle immiaration Ls nol a devolved matter. acce8S to advlce Is withln Welsh Govemmenl's re8ponslbilllles. Acco88 to Justlce on Immbrk)n 2023124 saw the Foundation's new project. lunded by Justlcè Together. get going in 8amosL Following in-deplh re6&9rch With migrants and the legal sector. the FDundallon publlshed ils findlnas on the sfaie of legal ald funded Immlgrailon seNlces in W81es. The huge shorlfall that rt revealed w86 reported by several news OUtlel8 and highlighted In Séneikl debates. The foundaiion was pleased that its findiros proffled the Welsh Government lo provide mix4e8t, 8hort.term fundlng to boost legal ald wovision. The Foundalton ¢onlinued to work wtth people wlth INed experie8 of the Immigfatlon system, which Ident80 serious and lasilng impacts on people unable to access legal advice, as well as a wi(kspread problem with exploitalion and FM)or ouallty of advicelclient care, and a very low level of legal Iltef8Cy. The Foundation has submitted evidence based on these findings lo Ihe Ministry of Justice's Review of Clvll Legal Ald. and Ihe charity has slnce been Invlled to dixu8s Ils fiDdlngs lo feed Into Ihe revlew's work. li is also sharing concerns atut some issues that emerged wllh Ihe Solidlors Regulailon Aulhority and OISC. Guardlan8hlp of urofA)xn1 chlklran The charfty wort(ed with others (the Children's Society, chik1'S Legal Centre Wal85. and the 8rilish Red Crossl lo call lor a Guardlanship SeNlce for all UrBccompanled Chlldren In Wales. unaoMpanIed Chlldren are highly vulner8bl8 withoiil a guardian, especlally in respect of access lo legal advicy. The ChlldrBn's Commlssioner for Wales has publicty supp)rted the call, with support from others expected. The Foundation welcomes Ihe Welsh Govemmeni Mlnlster fcK Social Care's commitment to review the issue in the currenl Sed ierm, 811h are urging her to make a flrm8r ¢ommltsnent. No recYJurne to publlcfund8 (NRPF) The Foundation r1Ved a granl from The Nailonal Lottery Community Fund's Awards for All propramme to h81p to reduce the risk of deep povety amongst people wh08e Immlgrallon stslus restrlcts thelr access to publlcfunds. 1118unched its findings in February 2024. wth SnifiCant IMP1. as thls w8s not an isgue ffi bvhlch there had pThlously been pollcy 8nalysis or recommendations. A key recommendalion is that ellgibility lor Free School Me8Ls should be extended to all thildren from low incorne households affected by NRPF In Wales. The charity stressed Ihe dlscrtmination and rac&m Inherent withholdlng Fre8 School Meals from one group of children basèd onty on their parents, immigration ststus. 11 plans lo worf( with decision makers durlng 2024125 lo urge them to make the necessary changes.. already a debate sponsored by Beth Wlnter MP has been held In Westminster Hall In May 2024. As a spin-off from thls woth. Ihe Foundation has establtshed a coailllon of third sector and grassroots oroanlsallons lo Improve influencing and joint working on NRPF, and is seeking fundino to enable the coalillon to develop training resour¢*6 and guidance, share Info8tion about go(Kl praclice, and to campaign and innuence for chaNJe. FoNowlng the launch. sevwal k)cal authorty teams approathd ihe tharity for help and guidanc8 on supportlng people In their areas wlth NRPF, lendlng weight a) the recommendatlon thal Ihere should be a Wales NRPF slalulory forum to advlse public tx)die8. Experlences of a8ylum seekern Al the end of the financial year, the Foundalion was awarded a further grant from The Natlonal Lottery Community Fund's Awards for All programme lo understand the experiences of people seeking sanduary in Wales lo make recommendalion5 for change. The pro1 will bo dVered In 2024125.
THE BEVAN FOUNDATION TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Flnan(Id reA6w The Trustees are dellghted to Teport a strengthenlng of Ihe Bevan Foundation's financial position over Ihe year. Total Income Is sllghlly up on the previous year, at £434,4QO, contirnang Ihe upward trend. Totsl exp8ndlture also incre88ed compared wllh 202W23, to £407,825, ref1rj a(klilional thlty and the Impact ol inflation. As in previous years, unreslricled income w8s under pressure. wllh a small Increase in income logeiher wlth rislng costs resuliing In a detldt of £15,195. Neverthde88, Ihe charity has end1 ih8 year wlth £117.888 1 unrestricled lunds. of which £80,000 bs foF de8lgnated wrposes. The iecelpi of Income in advan from several charltable and founda110r meanl it carfed fornard restrlcted fvnds of £226.262 for expendiiure in 2024125. The tharity vrds able to hold some ol the in(me reIved in advance of requiiements In hloh Interesl bank accounts, earnlng £4,282 Interest c¥ver Ihe year. The Tru61ees alm to maintain unreSirlc funds at a mInIml of IIKee months of unrestiicted chgriiable expendlture. The Tiikgtee8 con5tder that Ihis level would provide suffident funds to cover SUPP1 8nd governence costs and Seek project fund8 In the eveni of a fundlng slwrt fall or other unforeseen a[oJnnce$. The ch8rttVs unreslrlcled and und88ignated funds at Ihe end of 2023124 are equlvalenl to Iwo months, unrestslcted expendilure- In addltion the charity ha8 a deslgnated fund d £80.(KIO to be ulillsed In 8p8dfic clicum$tsno8. Pl8n8 for ftAufe wlods In 2024Y26 the Foundalion will conlinue lo develop Independent, non-partls8n insights Into Inlustlces In Wales, economy and gocrely Sn Ilne wlth rts strategy. It wll tske forward Its wort( on poverty, incomes 8nd livlng slandards, especially In respect of houslng, foo(l and heailng, wlth spec181 gard to wvety amongsl thlldffjn. It wlll contlnue and d6velop Its Work on people's rfghl lo Ilve. w(vk and seek protecllon in Wales. and to ensure Ihal gh quallly publlc seNl¢es are ava118ble f everyone. As 202412518 the final yeeT ol Its currenl str81egy, In Ihe SeC(W ho11 of Ihe year It will deveknp its pl8ns for the next perlod ready dellver In 202S126. The Bev8n Foundallon Is a charllable compary h'mtled by guwantee, Incorporated on 7th March 20018nd iegt5lered as a charity on 81h June 2004. The company w8s estsbllshed ifftder a Memorandum of Assoclatlon. vthlch establlshed Ihe otyecls and powers of the charitsble company, and Is g)vemed under Ils Artlcles of Association. The dlreclors of the company are alyA) charity Truslees for the purpo988 of charity and ale known under the (x)mpan3 Arttcles ol Assoclallon as Trustees. The Anlcles ol Assooaik)n provkle lor up lo lour Trustees to be elected for a four-year tem 01 the Annual General Meetlng following an open call for mmlnations. Vac8ncie8 (xn th be filled by co-option by Ihe board. such C0p110n to run unlil the dale of the f1 Annual General Meeikng. At thè 2023 AGM. Ihe Foundatlon s8kl goodbye to Vfvlenne Sugar, fonnerfy ch8ir of the Bevan Foundation, gnd Michael Imperato, whlle Gavin ThompyA)n was eleded as a Trusw and Chalr ol the board for a fDur year term. The Trustees beg8n 8 pn)cess to Tecruil new Trusteps io replace Ihose standing down in 2023 and those whose temis end in 2024. Att Trustees have an annual appraisal in whlch training and development needs are t(knlilled. The FoundatHJn dellve onlliiuous support prooramme, vthlch in 2023r24 included refresher trainirw on Ihe tharity's finanS. safeguarding, and its theory of change. In addllion, all Trustees are regularty informed about charity matters vla regular newsletters from the Ch8riiy Commlsston. Wales Council for Volunlary Action and olher sour<w. Trustees are invited to partiCiP8te in appropriale extemal training and developmeni opportunilies that may be of inleresl, including those on fundrai31ng and gLN)d governan.
THE BEVAN FOUNDATION TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Dufing Ihe year, the Tr68S made a publlc comm11nl to becLYnlno an anll-racist organisalion.ll Is developing and Implementing a comprehenslve actlon plan to rdlsè awareness ol racism, embed anil-racism in Ils Pfadkes and slructures, and increase the diversity of the board and staff. The charills trustees give their lime freely and none tecelved r8muneral•on in ihe year. Trustees, eXnSeS may b8 reimbursed in line with the charily's expenses polscies and are disck)sed in the note lo the accounts. Followlng the decision to Ilnk Bevan Foundatlon staff salarles (but not other terms and condilions} wllh IhoBe In Ioc81 government, Truste8s offered slaff an interim pay award 2023124 pendlnu deterrnination of the local government 5eiilemenl, wlth minor adjustments made in November 2023 settlement was finally reached. Al the same rne. Trustees made an interim pay award for 2024125 and also made a minoff adjustment to the calculalton of the Foundalion's Contrlbull to Ihe defined contrlbution pension scheme to br#ig it knio Ilne wlth stsndard arrangements. The board etS quarterty and18 re8p(Thible 8ètllng Ihe str8teglc dlrection of Ihe Foundation, and d8termln]ng Ils key pollcies. It has a scheme of delegatton in place lCh sets out the dedSn$ devolved to the Chlef Executfve. rhe Lomp8ny Secrelary18 also a Trustee. The chark$ alms and activilles for the y881 ahead are sel In It8 foThvard worf( programme, In solar as Ihls Is pos8lble oiven the nalure of the charity's lunding. Its actlvilles, outpu15 and impac18 moniiored, along wth the availabllily of funding for the organlsatlon and eath prole¢L Th8 ¢harliy's plans are revised to lak8 awounl of financlal, pdltlc81 other Yelevant changes duflng the year. Responslblllty for ensuring the activbt58s tske place arKI foi meeling the charitys t8rgets rests with the chlef exeCl¥e offlcer. Rdatlonshlps wlth related part The charlty does not h8ve any rel&ed partles as defined ty Ihe Charfty Comm18810n. The Truslees regularly examlne the mah)r strateglc busknè&8 and operallonal rlsks whlch the tharlty laces. The malor flsk8 continue to be rellan on a small slaff le8m 8nd uncen*nty around fundlng especlally its core costs. As a result of rèv18W, the board has also Id8ntified cyber security and safeguardlw a8 medlum ilsks whlch It has taken additional aetlon lo miilgaie. The Truslees sel an outline budget for ihe flnancial year and monitor income and expenditure against Ihe tdget each quarter, revislng il as necessary. The Chlef Executive In addilion ieports on monlhly income and expendlltsre lo Ihe charity'8 Treasurer. The Trustees consider Ihat IhLq Is adeou8te for the scale and (xjrrent financi81 health ol the charlty. The d8y-to-day rn8n8gernenl of the charily18 dekgated to th8 chief exKufft. The tharlty recelves geneial advlce on ch8rltable matters throuuh its membership ofthe Wales CouncA for Vc4untsry Action and throWI regular updales from txher organisalions. Flnandal IrAtrumen18 The charily's 8clivitie5 expose il to sever81 finartial rlsks InchK Cretht rnk. c8sh Ilow rlsk and liquldlty rlsk. Tlie charily's principal financial asset8 are bank balances and cash, trad8 and other recelvables. The charily's credil risk is primarily atln'buiable to ils trade receiv8bl8s. The amounts presented in the balance sheet are net ol allowances for doubiful receivables. An allowan for impairnient is made where Ihere is an id8ntified loss ev8nt Whh, b8s8d on previous experlence, Is evldence of a re(cl10n in the recover8bility ol the cash flLAYS.
THE BEVAN FOUNDATION TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Relerenco and AdmlntstraU¥e DetrAI8 Trustees: John Ch(A•m Blshop John Davles Duncan Forbes Lynne Hughes Anthony Hunt Mbchael Imperato {Reslgned 15 November 2023) Sally Pol TaMn Stliling Vlvlenne Suoer IFle6rgned 15 N(wember 2023) Shav8n8h Tal Gavin Thompson Rard Wlllams RusTra Begum {ApInted 2 July 2024) Sabrlna Rahlm Dubash (Appointed 2 Juty 2024) Tom05 Rhys Owen (Appoinied 2 July 2024) Laur8 Olufeml Shoblye (Appolnted 2 Juty 2024) Secretsry.. Duncan Forbes $6nlor Management Teom", Vlctorla Winckler Ptlnclpal Offlce: 145a High street Merthyr Tydnl Mld Glamorgan CF47 8DP Reglstered 011.. 145a Hlgh Streei Merthyr Tydfll Mld Glamorgan CF47 8DP Company Reglslrallon Nltsel. 04175018 Charlly Regmratlon Number. 1104191 Penslon Adv15ers'. Beacon5fa Lknlied Wlndwhislle Bellfountain R08d CrIckholI Powys NP8 1SN Banke. The Cooperative Bank Independent Examlner.. t4CH Accountants Limited Chartered Accountants Wellfield House Temple Slreet Llandilrtdod Wells LD 5HG
THE BEVAN FOUNDATION TRUSTEES REPORT {INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 StateMt of TN61aag' Refjpuffjlt4th198 The Iruslees (who are also Ihe directors of Th8 B&wan FOdatIon for the puiposes of company law) are responsible for preparing the truslees, report and Ihe financial slaiements In accordance wilh Ihe United Klngdom kcounting Stsndarts (Unlted Kingdom Generally ApIed Accounling Practice) and applicable law and regUlanS. Company law requires Ihe Irustees lo prepare financial slatem8nts for each financial year. Undet company law the Iruslees musl nol approve the financial statements unless Ihey are salisfied th8t they give a true and falr vlew of the slate of affalrs of the charitable Company and of its incomlng resources and appli¢allon ol resource5. IlUdIng its incom6 and expendllure, for that period. In preparlng these flnancial stslements. Ihe trustees are required lo: select sultable accounting pollcies and ap Ihem conslstenty; obseNe the methods 8nd prlnclples In the Ch8rit6es SORP; make judgements and e8tlmales that are reasonabl8 and prudent; state whether appllc3ble UK Accounting Slandards have been follthved, subj.ect lo any matertal departures dlsclosed and explained in the financlal sl8temenfs; prepare Ihe financlal slalemenls on the going c(M basL8 unless111g Inapproprlate to preSUn that th8 charilable company will continue in btvJiness. The truslees are respon8lble for keeplng adequate aco)unl#w records th818re Sufflent lo show and 8xplain th8 ch8rflable cornpany's tr8ns8cllons and dlsclose with asonable accuiacy 8t any lime the financlal posiij'on of the charilable rompany and enable Ihem to ensure that Ihe financi81 sialements cofflpty wilh the cpaThe5 Acl 2006. They are alBO responslble for safeguardlng the assets of the charitable o)mp8ny and henc& for takiThJ reasonabl8 sleps for the prevenllon and delecllon of fTaud 8nd olher Irregularities. Small a>mpenlo8 wovlslon 8lalwnenl Thls report has been prepared in accordance w61h the small companies, regime under Ihe Cornpanies Act 2006. The aTrnual report bYdS approved by Ihe trustees of Ihe dwty on 1P July 2024 and slgned on Its behall by.. Gav Thompson TN8te8
THE BEVAN FOUNDATION INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BEVAN FOUNDATION I r8port to the Iru5t8es on my examinatIc of Ihe financial stateThnts of The Bevan Foundation (the charity) for Ihe year ended 31 March 2024. Respon6lbllElles arKI ba81s of rnport As the truslees of the charity (and a150 115 dlrectors for the purpos8s of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act). Havlng 8atlsfi8d my8df that the finandal statements of Ihe charlty are required lo bo audlled under Part 16 of Ihe 2006 Act and are eligibfe for Independent examlnation. I report in respecl d my èxamination of th8 charitls flnandal statements carried out under section 145 of Ihe Ch8rilies Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charrty Commission under section 145(5)Ib) of the 2011 Act. Indepgndont 8xamSnerf8 8tatern Since Ihe charlly's gross income exceeded £250,000 your examSner must be 8 member of a body listed in section 145 of tho 2011 Act. l confirm that l am qua1th6d lo undertake the examinallon because l em a mémb8r of ICAEW, which Is one of Ihe lisied tXKties. I have complete(l ry 8xam4nallon. I confim) Ih8t no mallern have come ts) my attenuon in connection wlth the examlnalif)n glving me cause to believe that In any material respo. accounllno records were not kept in respect of the charity as requlred ty 6eG*ion 386 of the 2006 Act. L the financlal statements do not accord wllh Ihose reCd5. or Ihe financi81 st8ternents do not comply wilh Iho accounting requlrements of section 396 01 the 2006 Act other than any requirement that the accounts glve a true and fair view wlithls not a matter consldered as part of an Independent examlnation; the fin8na81 statements have not been prepared in acc(Kdance with the method6 and principles of the statement ol Recommended Prachce for accounting and reporting by charilies applicable to charities preparing theSr accounts In accordance thtyth the Financlal RepcNting Standard appllcable in the UK and Republlc of Ireland (FRS 102). I have no concerns and have come a(xo8s no other mall6rs In Comecllon wtth the examination lo whlch attention 8hould b8 drawn In thls report In order lo enable a proper understanding d the flnancial statements lo be reached. m.k. RCH A(x0Unt Umlted M L B8rn88- FCCA FCA Wellfield House Temple Street Llandrlndod Wells Powys LD15HG Daled: 17 July 2024 10-
THE BEVAN FOUNDATION STATEMENT OF FINANCIAL ACTivmES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Tcrtal nds 2024 2024 2023 Donations and legaaes Charilable actlvities Other income Investments 87,225 21.982 8.550 4,282 312,361 399.586 21.982 8,550 4,282 358,331 64.098 2,175 Total 122,039 312,361 434,400 424,604 Raising funds 94,041 94,041 117,990 Charltat48 activities 43,193 270,$91 313,784 276.630 Total expthIr0 137.234 270,591 407,825 394,620 Nat (expgndllure)llncy)Th for tho yewl Nat movement In fund• (15,195) 41,770 26,575 29,984 Fund balances at 1 Aprll 2023 133.083 184,492 317,575 287.591 Fund balan¢8s at 31 March 2024 117,888 226,262 344,150 317,575 The stalement of ffinancial activities includes all gains and losses recognlsed in the year. The stalement of financaal activitl8s indudes all gains and k)sses recogni5ed in the year. All incorne and expendllure d8rlv8 from continuing activities. Th8 Statement of financial aCville8 a180 complies with the requirefflents for an in(YJme and expenditur8 account under the Companies Acl 2006. 11
THE BEVAN FOUNDATION BALANCE SHEET AS AT 31 MARCH 2024 2023 Tangible assets 14 4,817 5,312 Debtors Cash at bank and In hand 15 18,505 338,171 6.830 320,368 356,676 327,198 Crth: amc>unl8 faIng due *41hln (Y 16 (17,343) (14,935) 339,333 312.263 Total a880ts1888 current H8t4NU88 344,150 317,575 Net a888ts 8xd penBkn Ilatslly 344,150 317,575 Tho ol Ihe tharfty Restricted income funds Unreslricted funds 18 226,262 117,888 184,492 133.083 344,150 317,575 The company18 enlltled lo the exffnplion from Ihe audit requirement contalrnd In sectlon 477 of the Companies Act 2006, for the year ended 31 March 2024. The dlrectors acknowledge Ihelr responsibilitles for complylng wilh the requlrements of the Companles Act 2006 wllh r8specl lo accountlng records and the preparation of financlal statements. The members have not required th8 conyany to oblain an audlt of Ils financial statements tor th6 year In question in accordance wllh section 476. These finandal statements have been prepared In accordance with the provision8 appllcable to companles subject to Ihe small companles regim8. The financlal slatements were approved by Ihe Inistee8 on 17 JY 2024 MrGP TN8te8 Thompson Company reglslration number 04175018 (England and Wales) 12-
THE BEVAN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Charty Infomia The Bevan Foundation is a pfivate cnpanY limiled by guarantaa ints)rporat8d In England and Wales. The registered offtce is . 1.1 A¢xountlng o)nventt< The financial statèments have been prepar6d in accordano witti the charity's Igovemlng documentl, the Companies Aci 2006, FRS 102 °The Financial Reporting Stsndard applicable in the UK and Republic of Ireland. I"FRS 102.) and the Charities SORP 'Accounling and Reporthno by Charities: Statomenl of Recommended Practice applicable to tharities preparing their acclnIS in accordance wilh the Flnanclal Reporting Standard applicable in Ihe UK and Republic ol Ireland (FRS 102)" {effeclive 1 January 2019). Th8 charity is a Public. Benefit Entity as defined by FRS 102. The charity has taken advant8g8 of the provisions In the SORP for chadtle8 not to ryepare a Sl8temènt of Cash Flows. The financial statements are prepared In st8ding, which is the functlonal currency ol the charity. Monet8ry amounts in these financial statements are rounded to the nearest £. The financial statements have been pr8pared under the hislorical (Thl convenilon, [modlfled lu Includa the revaluation of freehold propertles and to include investment prop8rt1es 8r#J certaln financial instruments at falr value]. The principal accounting polides adopted are set out below. 1.2 Golng (ncern At the lime of approvlng the financial slatements, the Irustees have a reasonabl8 exp8c18tion that Ihe charity has adequate resources to contlnue in operational existence for the foreseeabl8 future. Thus the trustees continu8 to adopt th8 golng conc8m basls of accountlng In preparing the financlal 6tat8ments. 1.3 Chadtabla fimds Unrestrlcted funds are avallable for u8e at the di8cr8tion ol Ihe tw8t88s in furtherance of thelr chadtable obj8cllves. Restricled funds are subject to specific conditions by donors (K graiitors as to how they may be used. The purposes and uses of the r85tricled funds are set out in the not8S to the finanaal stslements. Endowment funds are subieci to SP8cifK condilkTh by donors thal the capltsl must be malntalned by the charlty. 1.4 In(x)me Income is recognised when the charty is legamy entttled toll after any pthlomance conditions have beèn met, th8 amounts can be measured reliabty, and it Is probable thal income wim be received. Cash donations are CogniSed on Fec8iPt. Olh8r donatlons are recognised once the charlty has been notlfied of the donation. un18ss performance conditions reqimre deferral of the amount. Income tax recoverable in relation to donations r8c8ived under Glft Ald oi deeds of coven1 Is re¢ogni5ed 81 the Ilme of th& donatlon. Legacias are recognised on rec8iPt or cAheNAse If the charity has b88n nobfied of an impending dlstribution, the arnount is known. and receipt is expecled. It Ihe amount is nol knomffl, legacy is Ireated as a continoent asset. 13-
THE BEVAN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Attounllng polldes 1.5 Expgnthtyre Expenditure is recognised once there is a legal or construdive obligalion lo transfer economic ber11 to a Ihird party, il is probable that a transler of economic benefits will be required in settlement, and the amount of the obllgation can be measured reliably. Expendltur8 Is classlfied by acllvily. The costs of each activity are made up of the totsl of direct costs and Shared costs, including support costs involved in undertaking each activity, Dlreci costs 3ttribut8ble trj a single adIty aro allocated directly lo Ihaf activity. Shared costs vthich conlrlbute to more than one aciiviiy and support costs vthlch are not attributable to a single actlvity are apportioned belween Ihose activllies on a basis consistent wlth the use of resour¢8s. Central staff costs are allocated on the basis of limc spent. and depreclalion charges are allocated on Ihe pordrm of the 858el's use. 1.6 TeIb Ilxed as80ts Tangible fixed a55ets are inrtially measured at cost and subsequ8nlly measured at cosl or valualion, net of depredallon and any impalim8nt1058eg. Depreclatlon Is r8cognised so as lo off the cost or valuation of assets less th8lr re8idual values over thelr useful Ilve8 on the following bases: Plant and equlpment Computers 20% on cost 25% ¢Jn cost The galn or loss arlsing on Ihe d16posal of an asget is detennln&J as the difference between the sale prcceeds 8nd the carrylng v81ue of the assèl, and16 recognlsed In Ihe statemenl of Ilnandal 8clivities. 1.7 C88h ond c88h equlv81orts Cash and cash equivalents Include cash in hand, deposits held al call wilh banks. other short-tenn Ilquld Investments with original maturities of Ihree months (K les8, and bank overdrafts. Bank overdrafts are shown wfthin borrong8 In current IlabS1ities. 1.8 Flnandal In8tru Flnanclal instruments ar8 recognlsed In the tharllls balance sheel when the charity becomes party to the contrectual prov161ons crf Ihe Instrumt. Flnanclal assets and Ilabllllles are offset. wilh the net amounts presented in the financial 5tatemenls, when Ihere is 8 legally enforceable righl lo set off Ihe recognised amounts and Ihere is an intention to settle on a net bajis or to realise the asset and settle the Ilability simurtaneously. Baslc financial asset5, which include debtS and cash and bank balan, are measured at Iransactlon price Including transaclion costs. Baslc financial liabilltles, Indudlng credltors and bank loans ar8 f8cognised at transaction ptice. Financial liabilities are derecognlsed when the charity's ttraUal obligaliuns expire or are discharged or cancelled. 14-
THE BEVAN FOUNDATION NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 MARCH 2024 Amindng poltd88 The cost of any unused holiday entltlement is recognisad in thè pwlod In which the 8mployee's service5 are received. Termination benefits are recognised immediately as an expense when the charty is demonslrably committed to terminate the employment of an employee or to provide lermination beneliis. 1.10 R•tlr•mont befft& Payments to defined contrIbUOn rellrement benefit schemes are tharged as an expense as they fall due. Crftlcal accolmlng e8dmat08 andJUdgtr In the application of the tharity's accounts'ng policies, Ihe trustees are required to make judgements, estimale6 and assumptions abotst the carrying amount o* assets and liabltieS that are not readity apparent from othor sources. The estlmates and associated assumptions are based on his10Cal experiènc8 and other factors that are considered to be relevant. Aclual results may differ from these 8sllmat8S. The estimates and underfying assumptlons are reviewed on an oThJolng basls. RS1onS to acLountlng estimates are recognised in the p8riod in which the eslimate is revlsed wh8re the révlsion affects only that period, or In Ihe perlod of Ihe revision and future periods where the revision affects both Current and future periods. Donauong and legad88 Tot81 fund6 fund$ 2024 2024 2024 2023 Donatlons and gifts Grants r8ceivable MembeFship fees 9.287 17,500 60.438 14,287 324,861 60.438 12,753 284,944 60,634 307.361 87,225 312.361 399,586 358.331 15-
THE BEVAN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Donakn8 lep(496 Joseph Rowntree Foundation Waterloo Foundatlon We15h Govemment Engagement on Relreshed Child Poverty Strategy for Wales Lloyds Bank Foundaik)n fof Enoland and Wales Welfare Programme WCVA Voluntsry Sector Resllience Programme Standard Life Foundation (now Abrdn Flnancial Falrness Trust) Barry Amlel arKI Nonnan Melbum Trust Justice Togt)Ih6r Llpman Mllliband Trust The Natlcfflal Lottery Community Fund - NRPF in the cost of living crisis The Natlon81 Lottery Ccwnmunlty Fund - Solu1n5 to hlgh houslng costs after covid A B Charilable Trusl The Natlon81 Lottery Communily FUNI - Asylum seekers experlences Uoyds Bank Foundation for England and Wales (Temporary Ac£ommodatlon) Mode115ng Poverty Nallonwide Foundalion The Whlch? Fund, lunded ty the Consumers, Assodatlon 146.636 146,636 17,500 129,085 17.500 17,51KJ 4,925 40.473 2,240 17,982 7,330 23,815 1,860 52,393 52,393 9,921 9,813 20.000 9,877 9,877 44,153 31.000 12,500 44,153 31,000 12,500 10.802 10,802 17.500 307,361 324,861 284,944 Tol 2023 2024 Income from charilable tIvitIeS 13.945 8,037 21,982 64,098 Andygls by Unreslricted lunds f4estrlcted funds 13,945 8.037 21,982 63.512 586 16-
THE BEVAN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Unrn8tr1(Xed Unrn8tr1(tsd nd8 2024 2023 Olher income 8,550 fimds 2024 2023 Interesl recelvable 4,282 2,175 R8lslng fiJnd8 Unr88trlded 2023 Fundral8lng 8rKI pIlty Dlrecl costs Staff costs Support Costs 9,422 73,464 11,155 4,049 88.786 25,155 Fundralslng and publicity 94,041 117,990 94,041 117,990 17-
THE BEVAN FOUNDATION NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 MARCH 2024 Totsl 2023 Stsff costs Dlrect CQ8ts 198,553 64.060 137.356 91,790 262,613 229,146 share of 8UPPOrt g0WTrw o)Jt8 (880 nots 9) Support Governance 37,559 13,612 34.030 13.454 313.784 276,630 Anatys18 tyfvnd Unreslrlcted funds Restrlcied funds 43,193 270.591 51,030 225,600 313.784 276.630 18-
THE BEVAN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 2023 Staff costs ' Depreciation Eslablishmenl costs Office expenses Printing postsge and ststi(Inery Sundry costs Travel Costs Matketlng ProfessiDnal fees Bank charges 9.021 60 262 50 44 132 254 204 18 10 9.021 3.093 13.464 2,548 2,224 6,726 7.847 10,461 2,858 527 8,188 2.825 11,710 3,071 5,392 12,460 3,238 20,630 1,258 549 3,033 13,202 2,498 2,180 6,594 7,593 10,257 2,840 517 Accourrtancy 3,557 3.557 3,318 48,714 13,612 62,326 72.639 Analysed belween Donations & Subscription8 11,155 37,559 11,155 51,171 25,155 47,484 13,612 48,714 13,612 62,326 72,639 B881e of allo(xllon M&thod of 811(xxlkJn Staff Timo Usage Employnients cosls Establishment and other costs Included within accountancy are costs for the Ind8pen(knt examiners fees of £2,810 (2023. £2.700> lor examination of the financial statements. 10 Nel nvjveTh In fvrKJs 2024 2023 The net movement In funds16 Stated after ChargIn{credIting). Depreci8tlon of owned tsngible fixed assets 3,093 2.825 11 Tru8tees None of the trustees (or any persons connected with them) r8ceiv8d any r8munerallon or benefits from the charity during the year. 19-
THE BEVAN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12 Emth Th8 average moDlhty number of employees during ih8 year was: 2024 Numbw 2023 Numb Staff 2024 Wages and salarie8 Soclal secvrlty costs Other pension costs 244.403 12,914 23.721 198,160 15.422 20,748 281,038 234,330 The total employee ba]ofit8 01 key management persoM81 of the chaiity were £71,500 (2023- £67,266) Ttie chief execullve oflicer. 88 the highest pald memb8r ol stsff. received beneflts totalllng £71,500 (2023 - £67,266) 13 Taxatlon The chadty is exempi from tsXaon on its aclivitles because all its Income is applied for charitable purposes. 14 Te11X0d 8338lJ Plant and Computern Totyl At 1 April 2023 Addillons 7,276 25,329 2,598 32.605 2.59B At 31 March 2024 7,276 27,927 35.203 D¢wecl8llon 8nd Impa5mxnt At 1 April 2023 Dewectation charged in the year 6,522 321 20.771 2,772 27,293 3,093 At 31 March 2024 6,843 23.543 30.386 Carrylng amount At 31 March 2024 433 4,384 4,817 At 31 March 2023 754 4,558 5,312 -20-
THE BEVAN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 15 Debtorn 2024 2023 Amoun18 falllng wlthln year. Tfade debtors Other deblors Prfypaymenls and accrued income 12,859 3.028 2,618 2,990 2,827 1,013 18.505 6,830 16 Credltor8: amounts lalHng 1n ono ye 2024 2023 Trado cr8ditors Accrua15 and deferred income 1.905 15,438 406 14,529 17,343 14,935 Defined contrlbullon 8db8n The charity operates a defined conlrlbulh)n pension scheme for all qualifying employee5, The 888et$ of the schom8 are held 8eparately from Ihose Ihe chafity In an independenlly adminislered fund. The charge to profil or loss in respect of defined contrlbullon scheme8 was £23,72112023 - £20.7481. -21
THE BEVAN FOUNDATION NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 18 Restflcted fuThJ8 The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subjert lo specific conditions by donors as to how they may be used. Balan(*4 al Incommg Re80uYce8 BalBnce Jt 1 2023 r6&)urc88 wonded 31 Mar¢h 2024 Joseph Rowntree Foundall Lloyd8 Bank Foundation for England and Wales WCVA Voluntary Sector Resilience Programme Bary Amlel and Nomian Melbum Twsl Justice Togeiher Llpman Milliband TNst The Nallonal Lottery Community Fund - NRPF in the cost of living crisis The Nallonal Lottery Community Fund - Soluii(ms to hlgh housing costs after covid The Natlonal Loltery Cornmunty Fund- Asylum seoker6 experiences Lloyds Bank Foun(lation for England and Wales Teinporary Accommodallon Modelling Poverty Nalionwlde Foundallon Th8 Which? Fund, lunded by the C(m8umers' Assoclatlon 132.146 11,009 2,662 7.330 16.778 1.860 146,636 (135,390) (11,009) (2,662) (7,330) (66,970) (1.860) 143,392 57,393 7,201 9,921 (9,921) 2,786 (2.786) 9,877 9.877 44,153 31,000 12,500 (20,066) 24,087 31,000 10,705 (1,795) 70,802 (10,802) 184,492 312,361 (270,591) 226,262 m0vennI In fimds B•lwK• •t Incomlw Re8OUf( Bal8nce Èt 1 2022 rn•ource• •Apend 31 2023 Joseph Roree Foundallijn Lloyds Bank Foundation for England and Wales WCVA Kickstart WCVA Vduntary Sector Resilience Programme Standard Life Foundatlon (now AbFdn Fonancial Faimess Trust) Bary Amiel and Norman Melbum Tru81 Justice Together Lipman Milliband Trust The Nalional Lollery Community Fund- NRPF In Ihe cost of living crisi8 The Nation81 Lottery Communty Fund - Solutions to high housing costs after c(yvld Welsh Govemmenl- Engagement on the Refreshed Child Poverty Strategy for Wales 85,064 1,039 129,085 41,059 2,240 (82,003) (31,089) (2,240) (43,648) 132,146 11,009 46,310 2.662 9,649 17,982 7,330 43,815 1,860 (27.631} 7,330 16,778 1,860 (27.037) 9.921 9.921 9,813 (7,027) 2.786 4,925 (4.925) 142,062 268.030 (225.600) 184,492 -22-
THE BEVAN FOUNDATION NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 MARCH 2024 18 Re8tslcted fund8 Joseph Rowntree Foundalion A proiect funded by the Joseph Rowntree Foundation to Increase understanding the causes and impact ol poverty. and to devdop re(x)mmondations to solve them. Lloyds Bank Foundation for England and Wales Welfare Programme - A project lo invesligate the relationship between Local Housing A15owance rates and homelessness and to devdop proposals for change. Lloyds Bank Foundation for England and Wales Temporary Accommodation - A prc4.ect to d8velop way8 of increasing the suppty and quality of perman8nl homes f people are hornele8s and in temporary accommodatlon. WCVA Kickstart Fundlng from the Departmenl for Work and Pen8ions l(Avards Ihe COBt of employlng a young person at risk of long-term unemployment. WCVA Voluntsry Sector Resillence Programme- A wjecl lo Increase the flnancjal res115ence of the d)ariiy by Increasing donations and income from trading. Abrdn Financial Faimess Tru81 (formerly Standard Llfe Foundalbon) A proJ8Ct to find out more about low- income self-ernployment in Wale5 and to make recommendations to reduce poverty amongst self-employed people. AB Charitabje Trust - A witrlbution to a pn¥ect on Increaslng access to ftU6tice for asylum seekers, refugees and other vulnerable migrants. Barry Amlel and Ncyman Melbum Trust - A proJ8d to increase publlc understandlng of how changes in contemporary capitalism are reshaplng post-industrial communltles in Wa18s. by building connections between Bla8nau Ffestiniog and the south Wales valleys. Juslce Tog8th8r - A prolect to Intxease understanding of the importance of acw jusllc8 to a8ylum seekèrs, refugees and other vulnerable nwgrants, and lo make the case for change. Llpman Milliband TNSI - A proj8Ct lo increasé wblic und8rsi8nding of hty chanoes in contamporary capitalism are reshaplng post-industrial communities in Wales, by making a Short video. Modelllng Poverty - A woject to id8nllfy the putrAic polldes whld) make the greatest C{lribUtIon to reducing poverty. Nationwide Found8tlon - A prolecl to develop ways to use 8oclally-0wn land and buikjlngs to Incfease Ihe supply of social and comffiunity houskng. The Natlonal Lottery Community Fund - NPRF in the cosl of living crisis - A Project lo Idenlify praciical ways to support ppIe with No Ae¢ourse to Public Funds in the cost-of-ltving crisis. The Natlonal Lottery Communtiy Fund - Solthions lo htgh housino costs after fA)vld - A pmjeci to find ways of helping p80ple adversely affected by Covid-19 to recover anfl rebuild resilience through secure housing an(1 avoiding homelessness. The Nallonal Lottery Communliy Fund AsuM 8eekers experien$ A project to find oui about ihe experiences of people seeking asylum securing legal advlc8 about their immtgration status. The Which? Fund. funded by the Consumers, Association - A prr4ect to explore the hamis and benefits of thlrd party mon8y management apps for vulnerth consumers. Welsh Govemment - Engagement on the R8fr8shed Child Povety Str8tegy for Wales - A prdect to listen to the experfences of children and families in Ely. Carthff. -23-
THE BEVAN FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 19 UmslrfLled fund8 The unrestcled furKJs of the chaity coffwrfse Ihe unexpended balances of donatlons and grants which are not subjecl to specific conditions by donors and grant$ as to how th6y may be used. These Include £80,000 of de5ign318d funds which have been set aside out of unrestricted funds by the trust88s for speclflc purposes. At 1 All 2023 *Kxxnlno Re80urc88 At 31 Mar 2024 General funds 133,083 122.039 (137,234) 117.888 At 1 2022 Komlw Re8wc80 At 31 March 2023 General fund 145,529 156,574 {169,020) 133,083 Totsl Total nd• fund8 2024 2024 2023 Fund balances al 31 March 2024 are rewesented Tangltle assets Current a8setsl{liabllitles) 4,642 113,246 175 226,087 4,817 339,333 5.312 312,263 117,888 226,262 344,150 317.575 There wre no dlsclosable related pty transactlons during the year (2023 - none). -24-