2023-03-31-accounts

tai powb toi powb DISAQRÈE ouc -￿￿.t41P Annual Report 2022-2023 * THE CHAMPIONS NETWORK HE CHAMPION NETWORK GWEP4T BOOST Building On OurStrengthsTogpthv CWENT BOOST Building On Our Strengths Togethe Landlords tenants wo together Tackling inequality and discrimination in the Private

Our Purpose We imagine a Wales where everyone has the right to a good home.

Too many people in Wales don’t have somewhere to live in security, peace and dignity.

Too many people face systemic prejudice, discrimination and disadvantage in accessing suitable accommodation.

We are determined to change that

Shape the Change

Make the Change

Be the Change

We advance equality, diversity and social justice in housing in Wales by continuing our work with members, partners and communities... ... to fundamentally influence decision making at the highest level and make the change on the ground.

Shape the Change

Make the Change

Be the Change

Influencing

Training

Data and research Policy Strategy

Best practice

Conference Consultancy

Networks

Resources Networks Consultancy Membership Partnerships Support Thought Leadership Lived experience at the core

We have shaped change...

#BackTheBill - The campaign for the human right to a good home

#BackTheBill - The campaign for the human right to a good home

We launched our cost-benefit analysis with partners and Alma Economics - which highlighted that the government could save 11.5 billion by implementing the right to a good home We published our “Five things you need to know about the right to adequate housing” dossier

#BackTheBill - The campaign for the human right to a good home

We held workshops with Welsh Government colleagues We fed into the Local Government and Housing Committee’s inquiry into the right to adequate housing We sat on the Welsh Government Stakeholder Advisory Group ahead of the Green Paper publication

#BackTheBill - The campaign for the human right to a good home

There was a resulting commitment to a Green Paper on the right to adequate housing *which has now been published

Anti-Racism Work

Deeds not Words

Produced Deeds not Words 2 years on

report 32 organisations pledged to Deeds not Words Development and implementation of the Deeds not Words panel Well established Deeds not Words Leaders meetings on pertinent topics, such as inclusive culture and allocations

Recruitment of Anti-racism Manager Simon Lu Cymru Wrth-hiliol An Anti-racist Wales WEL(/OME

Recruitment of Anti-racism Manager Simon Lu

Securing of government funding for delivering ARWAP in housing sector Anti-racist Wales baseline survey Engagement and partnership with race and housing stakeholders Starting work on Anti-racism toolkit web page

Policy and Influencing

Response to Local Government and Housing Committee inquiry on temporary accommodation in Wales, alongside Cyfannol and Shelter Cymru

Continued engagement with Local Authorities and Registered Social Landlords working group on FLOORED (alongisde TPAS Cymru) - this is now in WHQS policy

Feeding into Ending Homelessness National Advisory Board and Welsh Government Stakeholder Sub-Groups - including rapid re-housing Response to Senedd Cymru consultation on Gypsy Roma Traveller site provision

Member of the communications group for Welsh Government ‘Delivering Net Zero’ initiative

Members of new Welsh Government Stakeholder Group on Review of Tenant Participation in Wales

We’re one of five organisations on the Welsh Government Human Rights Legislative Options Group Chairing the Race Stakeholders Group on the Ending Homelessness Advisory Board

• 34 policy changes (both big and small) adopted as result

• of Tai Pawb advice/influence

And lived experience is at the core of what we do...

Developed principles of lived experience

154 people engaged

Worked with the Joint Disability Network and TPAS Cymru to engage disabled tenants Front line feedback from sanctuary seekers

And much more...

Partnerships and Research

Tai Pawb delivered coaching and capacity building with Refugee Community Organisations Oasis and Home4U

Some of that work included:

Guidance on strategy, policies, systems and good practice. Increased staff capacity Staff training Improving Data Collection Triage and signposting Response to ICCFW community consultation)

Core capacity-building resulted in long-term improvements in systems and practices in the integration team at Oasis and was identified as the most significant change resulting from the project

“Oasis is transformed in the way that it delivers frontline work.”

The National Lottery ‘Helping End Homelessness Project’ (BOOST) (Led by The Wallich)

Private Rental Sector Champions Manager manager recruited: Anna Tuhey

Welcome Anna

Other Partnerships:

Experts by Experience homelessness research, capturing the lived experience of people with protected characteristics (published in Feb 23). This piece of work fed into Welsh Government White Paper on homelessness reforms LGBTQ+ older people partnership with EROSH - toolkit created and event hosted on LGBTQ+ friendly policies in social housing

Focus group response to climate emergency with Public Health Wales, RHA, and Future Generation Wales Hate Crime e-learning delivered for Rent Smart Wales, in partnership with Victim Support Wales

We have helped to make the change...

Tai Pawb Annual Conference 2023 MORE IN COMMON 28 March 20231 City Hall, Cardiff imary Sponsors ,R14 unite welsh- toi powb

Conference 2023

MORE IN COMMON

First in-person conference since Covid-19

“Amazing line up of speakers and every one of them was fantastic.”

Conference Highlight: the presentation and discussion around issues faced by Gypsy, Roma and Traveller communities by Travelling Ahead rated the event good or excellent

100% would recommend 100%

“I thought the conference was well worth my time, excellent speakers who were inspiring to listen to.” “This was my first Tai Pawb conference attendance and it certainly won't be my

last.” “I thought I was fairly switched on but I had my eyes opened to things I was not aware of.” “Well organized event with a great array of speakers and workshops.”

Conference Highlight: the presentation and discussion around issues faced by Gypsy, Roma and Traveller communities by Travelling Ahead

Membership

77 Members

605 jobs advertised

207 helpline inquiries

1475 contacts with members

3 EDI clinics

271 new mailing list subscribers

17 47 training sessions consultancy sessions

60%

increase in confidence afterwards

100%

would recommend

19 events

90% satisfaction rates

Reviewed our member benefits for 2023-24

Started work on e-learning provision

EDI resource mailers linked to significant dates

2 more organisations achieved QED

100% ‘very satisfied’ with QED QED celebration report published Significant equality impact reported over the 5 years of QED:

including 78.5% of staff reported EDI improvements in their organisation after 1 year 80.3% staff feeling more confident about their ability to be’ very’ or ‘completely’ open at work

2 more organisations acheived QED

100% ‘very satisfied’ with QED QED celebration report published Significant equality impact reported over the 5 years of QED:

including 78.5% of staff reported EDI improvements in their organisation after 1 year 80.3% staff feeling more confident about their ability to be’ very’ or ‘completely’ open at work

QED leaders pilot started with Melin Homes

“Being a Tai Pawb member has been a great experience for our organisation. We have benefited from training, network meetings and more recently we have completed the QED accreditation with Tai Pawb. All of the Tai Pawb team have been hugely accommodating and always willing to provide helpful feedback and guidance, supporting us to always strive to do more as an inclusive employer and landlord.” - Luke Takeuchi, CEO, RHA Wales

We are also committed to Be The Change

Internal Policies:

Conducted ESG review with a resulting action plan

Drafted new internal EDI strategy and plan

Developed new Welsh language scheme

Provided a full wellbeing offer for staff, including:

Lunch and learn sessions Spectrum Life EAP Wellbeing days for staff

Mindfulness programme

Professional development for staff:

Lumina Spark psychometric testing and team building exercise Volunteering day Leadership programmes for two senior leaders Diploma in Fundraising for our Funding and Partnerships Manager

Now for the thank yous...

Massive To our funders: COMIC RELIEF . CRONFA GYMUNEDOL COMMUNITY FUND WCVA CGGC Llywodraeth Cymru Welsh Government FOUNDATION

Total Income:

Expenditure: Actuarial pension loss:

Net movement in funds:

£555,209

£484,703

(£26,000)

£44,506

Big diolch to Stuart Price FIA for in-kind support and advice, from:

Thank you to our trustees

Sarah Craig Stephenson Jonathan Prescott Chair Conway Vice Chair Nazia Azad Graham Nicola Findlay Jones

Dr Lindsay Elaine CorderyGilbert Bruce Diolch yn Fawr Cerys Clarke

Thanks to our wonderful senior managers

Alicja Zalesinska CEO

Ceri Meloy Head of Business

Ross Thomas Head of Policy and Public Affairs

Our wonderful associates:

Bethan Roberts Colin Heyman Dai Thomas Helen Armstrong Llio Elgar Marilyn Bryan-Jones Olymbia Petrou Sondra Butterworth

And the rest of our small but mighty team!

Vicki Foley

Rob Milligan

Anna Tuhey Lynsey Davies

David Rowlands

Andrea Penny

Simon Lu

Clare Hollinshead

Thank you to everyone who makes this work possible

REGISTERED COMPANY NUMBER= 05282554 (England and Wale51 REGISTERED CHARITY NUMBER- 1110078 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 FOR TAI PAWB Bevan Bu¢ka8nd LLP charte￿ Accountants And Statutory Audito Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA

TAI PAWB CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Pago R•f8r8n¢o and Admln15trative Details Report of the Trustees R•port of the Independ•nt Audltors 9 to 11 stst•m•nt of Flnanclal Actlvlti•s 12 Statement of Flnanclal Position 13 Statement of C38h Flows 14 Notes to the Statement of Cash Flows 15 Notes to the Financial Statements 16 to 27 Detalled Statement of Flnanclal Activ5tle¥ 28

TAI PAW8 REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2023 TRUSTEES Mr R Stain88 Ir88igned 28.11.221 Mr J Conway Mr M Kennedy (￿igned 28.6.221 Ms S Prescott (Vice Chairl Mr C Stephenson OBE (Chairl Dr L Cordery-Bruce Mr W H D RO￿and5 (resigned 20.1.231 Mrs E S Gilbert Mr G Findlay Mr5 N A28d-W8rren Mr O A T Idris (resigned 8.10.221 Ms C Clark lappointed 28.11.221 Mrs N T Jtsnes lapw)inted 28.11.221 REGISTERED OFFICE Mariners House East Moors Road Car<5iff CF24 STD REGISTERED COMPANY NUMBER 05282554 IEngland and Wales) REGISTERED CHARITY NUMBER 1110078 INDEPENDENT AUDITORS Bevan Buckland LLP Chartered Ac(x)untants And Statutory Auditors Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA Page 1

TAI PAVI8 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 The trustees who 8re also directors of th8 charity for the purp058s of th8 Companies Act 2(M)6, present their ￿port with the finan￿81 statements ol the charity for the year ended 31 March 2023. The trustees have adopted the provis￿n$ of Accounting an(f ReFK)rting by Charities." Statement of Recommended Practice applioble to charitl8s preparing their 8¢wunts in accordance with the Finanri81 R9POrting Standar¢J applicab18 in the UK and Republi¢ of Irdand IFRS 1021 leffective 1 January 20191. OBJECTIVES AND ACTfviTIES Obje￿o¥e5 and aims Tai Pawb's objectives are contalned in its Constitution. Its key obj'ective is ..to prornote equality and ¢Jwer5ity in the provision ol housiry in Wales. in particular social housing, for the benefit of the public in Wales by the elimin8tion of discrimination on the grounds of race, &Je. disability, g8nd8r, transgenijer, sexual orientstion or religion or belief.. The organisation's Strategic Plan 2021-2026 contains the followDg'. ision A Wales wh8r8 8V8ryone has the right to a good home. What w8 do We advance equality, div8rsity soual justice in housing in Wales Strategic Obj8Ctlv8s and Prforities Tai Pawb works to 3 strategic objectives and relevant cy)rrèsponding prionties". Shape the change Campaign for a leg81 right lo housiThJ in Wales Help build 8n anti-r8¢lSt Wales Champion dis8bled people's housing rights Promote LGBTQ+ rights Champion equal rights for homeless and vulnerably housed people Advocate an equitable reSpo￿e tts th8 climate emergency M8ke the chang8 Broaden the reach and impact of our transfomiational QED Award Focus on cultu￿1 charwJè Arnplrfy our message In¢￿aSe connection with members Embed lived eXperI8n￿ in our work Be the eh8nge Lead by examp Become more agile and r8fieclive NYrtLj￿ new and existing partnerships Grow our capa(xty to deliver Page 2

TAI PAW8 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 OBJECTIVES AND ACTMTIES Key A¢hlevemènts he chan Campaigning for a legal right lo housing in Wa18S Publication Cost-benefil analy515 of th8 right to housing leading to a Senedd Inquiry into the Right to Adequate Housing Significant Input into Welsh Government Legislative Options Working Group 4Jevèloping proposals fora Wales Human Rights Bill Charnpion disabled peoples fK)using rights Partnership work with TPAS Cymru and disabled tenants on feeding into Webh Government decarbonisation agenda with relation lo accessible housing P￿SentatIon to Cross Party Group tsn Muscular Dystrophy on Right to Housing and Disability H8lp build an anti-wst Wale5 Suc￿$1u1IY s8curing funding and re¢rurtmenl of AntI-r8￿¥M Manager to help We15h Govemm8nt and sector mplement Anti-r8ClSt Wales Action Plan Continuation of engagement. support and good practice exchan9e fororgani5ations who pledged lo end racial inequality in housing under our Deeds not Words Pledge Launch of Deeds not Words Sector Suryey with over 800 resFKJns8s from sector etnployee5 Suc￿$$fUl Deeds not Words Day of Action on social media Deeds not Words panel ¢onlribulions lo sector events providing ￿adershiP and challenge on Anti-racism Promote LGBTQ+ rights Sucoessful seetorsufvey on LGBTQ older people indusion with findirys launched and further partn8rship work with EROSH Signthcant 8wareness raising activity via sotsal media, resour￿ newsletters and bespoke member sessions Launched research of LGBTQ p80ples home18ssness experien￿$ in Gwent which won Wales Online Diversity and Inclusion Award Charnpion egual rights for homeless and vulnerably housed people First refug8es housed in accommodation supported through our Building a Nation of Significant increas& in capacity ol partner refugee oryanisa1￿JnS supported through T81 Pawb coaching Launched PRS Champions Project as part of Gw8nt Boost Consortium Establishment of Race Stakeholder Group under Ending Homelessness Nation81 Adwsory Board Advi￿. feedback and Scrutiny through Welsh Govemmenl Ending Homelessness NatK)nal Advi50ry Board focusing on ernb8dding EDI into ending homelessnoss plans and frameworks Significant contribution to the Expert Homelessness Review Legislation Panel Research report into the Experiences of Homelessness of People with Protected Characteri$tirA feeding nto the review of legislatfon Advor2te equitable response to Climate emergency suc￿$$fUl survey of good practi￿ in organisalions implementing r8comrnendat￿￿s of Tai Pawb and TPAS Cymru FLOORED report Significanl contribution to developrn8nt of research into equitable ￿pOnse to climate emergency in the housing sector in Wales Contribution to the wotl( Of Nel Zero w0￿1ng group wth Welsh Government, with input from disabled tenants M k h chan Broaden the reach and impact of our Iransfomiational OED Award Devek)prn8nt of draft QED Leaders Frarnework and pilot commenced with Melin Hornes RHA Wales and First Choice achieved QED Award following subslantlal work on accreditstion with Tai Pawb Continual irnprovements to QED process folkjwing annual reviews an¢J feedb8dÉ P898 3

TAI PAWB REPORT OF THE TRUSTEES FOR THE YEAR ENDEO 31 MARCH 2023 OBJECTIVES AND ACTIVITIES Focus on cultural change Devek)pment of themati¢ member rasourc8 rnailers linked to slgnificant dates in EDI calendar Focused on organisational ¢uMur8 in our Deeds Not Words suNey questK)ns and report, including shJnificant gwd pradice and guidance in the report Amplrfy our messag8 Increased rnailiro list subscription by 250 subscribers Sent out fj newsletters, 5 Ihem8ti¢ briefings and 47 bulk mailers on EDI to the sactor 234 inputs into Welsh Govemrnent POI￿y. 38 into Senedd work 34 changes a¢Jopted in Welsh Govemment Policy 8S 8 ol our work In¢￿se connection with members Answ8r8d 207 helpline inquiries, completed 47 training $885ions and 17 consultancy pieces, delivered 10 8V8nts Swnificant tmining impact with 60% in￿aSe in confid8n¢e post training 547 people att8nd8d our training, 364 1>80ple att8nded events Increased membership to 77 members and engaged witt) 97¥4 ofouf membership Embed lived experien￿ in our work Engaged 154 people with lived experience of inequ81ity in our work via training, focus groups, sessions and as speake Started devgloping Tai Pawb principle5 on Iwed experience Be the chan Lead by example Conduded ESG review resulting In an aLlion plan Developed new Welsh Language Scheme Reviewed wellbeing offer in Tai Pawb and piloted wellbeing days Carried out Lumina Spark psychometric testing and team sessions lo buihj wnne¢tKJns Completed Breathworks Mindfulness for Stress programme with the team Be(x)mg more agi18 and refiective Reviewed wellbeing offer In Tai Pawb an<1 piloted wellbeing days Carried out Lumina Spark psychometric testing and leaffi 58ssions to build o)nnectiOn5 Completed Breathworks Mindfulness for Stress prograrnme wrth the team Nurture new and existing partnerships Continued workiry together with our highly effective Baek the Bill coalition alongside CIH Cymw and Shdter Cymru Devekjped new partnerships and joint prograrnmes of work wilh Open University, TPAS Cymru and v￿tiM Support Grow our capacity to d81iv8r Secured funding for Anti-raclst Wa18s Project (WGI, PRS Charnpion5 Projec¢ (National Lottery) 8nd Experts by Experienc8 Homelessness Research IWGI, Hate Crime e-188rning IRSWI We4(x>med 2 new wlleagues lo the team lo help us further our objectives more 8ff8Ctively and In¢￿aSe c8parity Developed e-learning eourse for Rent Smart Wales in partnership with Victim Support Continued work on developing an e-leaming offer Developed new rn8rnb8rship benefits and f88S Structure in readine$5 for2023 with all online events free STRATEGIC REPORT Flnancial posltlon Total ineoffle for the year to 31 March 2023 was £555,209 12022.. £439.3141. The expendilure for tho year totalled £484,703 12022.. £398,629), lèaving a net surplus for th8 year of £70,506 before the movement on thè defined berefit pension ￿herne. Actuarial loss8s on the defined benèfit pension scheme provision of £26,000 12022". £112,000 gains) has been reported. Prlncipal fundlng sources Tai Pawb wntinues to supp￿rnent wre funding with incomè from membership fees. training. consultancy and T81 events. This year saw significant acb'ons towards greal8r financial sustsinability IT￿UdrO seojring further funding from Welsh Govemment (see ab¢wel and National Lottery, further developrnent of e-18aming offer and review of membefship benefits and fees. Despite redUct￿)n in income from some services folltiwng Covid-19 pandemic, Tai Pawb had a fantastic finanryal result owng to.. in¢reasin9 membership income antj securing partngrship grant funding and Ixjmmissions. Page 4

TAI PAWB REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 STRATEGIC REPORT Financial review Investment pollcy Investments are ruled by polia& (x)ntained in Tai Pawb finance handbook and the Memorandum and Artides of Association. Reserv83 poll¢y Tai Pawb conlirTrues lo have a reserves policy and to hold reserves. The organlsatK)n's reserves policy aims to mitigate against closure and invests in stralegic developrnent o)sts The amount ol reserves should ¢over 5 monlhs net operating costs plus closure costs. Organisation's balance sheet also reflects its liabilities in terrns of participation in Social Housing P8nsion Scheme. The organisation had a sufficient level of d8signaled r8serves in accordance with the policy at the end of March 2023. Trustees a￿ e105ely monitoring the ongoing effect of Social Housing Pension Scheme li8bililie$ and its Impact on reserves. Tai Pawb sets aside a designated reserve lo refiect the long terrn, not immediatety payable effects of the s￿81 Housing Pension Scheme liability. On a day lo Itay ba515 it ensures that ￿ntrIbutIOnS required to the fund are included within budgets and faCto￿d within mediurn lerm plans. Likewise it considers the associated risks as part of its ongoing risk management, and rècèivès periodic rev￿eW by the Board as a specrfic topic. ReseNèS policy is shared and reviewed by the trustees each year ahead of year end to ensure sUffiC￿ent lev818nd appropriate use of reserves. The policy was last reviewed in February 2021 with a new provision that additional funds may also be ¢Jesignated for SÈttin9 off actuarial gains against possible future 105S8s on the Soci81 Housing Pensw)n Scheme. S￿la1 Housln9 Penslon Scheme Following the actuarial valuation which lead to a significant in¢￿ase in Tai Pawb's share of liabiliti85 as well as past deficit contributions the tx)ard continued lo oversee work aimed at offsetting andlor r8du¢iro liabilities. This can ba surnmarised as follows.. Financial advice from Quantum and support wth providing informatK)n to former employees eligible for cash b8n8fits Close monrtonng of financial plan5 and reporting Review of membership benefit5 and fees with a view towards rn0￿ sustainablè ino)me Source Devebpment of plans for new income source.. e-learning Social housing pensN)n scheme continues to be monitored by the board as a standabne risk (see b81owl with pension updat8 b&ng a standing agenda Item in senior management teams board report al each board Meeting. Plans for Fubjre Periods These plan5 ar8 Outlined in *)ur new Strategy 2021-2026 and Busin8s5 plan. Intemally this is supplemented by Work Flan which is developed on an annual basis. Page S

TAI PAWB REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 STRUCTURE. GOVERNANCE AND MANAGEMENT Govemance Structure The charity 15 controlled by ils goveming document. a deed of trust. and constitutes 8 limited company, lirnit8d by guarantee, as defined by the Companies Act 2006. The charitys govemance stnjcture is 5UPPOrt8d by its constituts.on docurnen¢, the Memorandum and Artides ol Association and consts'lutes a limited Cofnpany, limited by guafant8e. as defined by the Compantes Act 2￿)6. The charity has a memb8rship structure con515ting of cat8gories of membetship, with these being Supporters. Affillates. Comm&rcial, Full Members. The charitys board ol trustees can have at least nine and no more than eighteen mernb8rs. all of whom must b8 over the age of eKJhteen. Each category of membership has been alk)cated 8 sp8¢ific number of s8ats on the Board. Wh8r8 8 s￿ifiC expèrtise gap is Identrfied, further Iruslees can be appointed as co-OPtee5, where members have full voting r￿jhIS. The nufflber of places allocated to 8aoh category of membership is detailed below.. Numberof S8ats Available Category of Membership Supporters Affiliate (Third Sector) Full Member (Local Authorities) Full Member (Registered Social Landlords) Affiliate Iother Housing Interestsl Co-tsptee5 IRecruited for specific skills etc.) TOTAL NUMBER OF SEATS 18 Annual Genèral Meetln9 Tai Pawb held its Annual General Meeting on 28 November 2022. The au(Jited a￿Ount$ were presented to the Board by the independent auditors at the 808rd meeting. Th8 Chair and CEO went through their respactive reports with regards to Tai Pawb's adiwties in the pr8c8din9 year. Trustee Inductlon and Training The trustees attend a number of Board meetings on a regular basi8. Tai Pawb h￿d$ events and seminars across Wales an¢J some of Tai Pawb's Board members attend these events to increase th&r kTrovAedge and experienc& around equality and diversity issu8s. All new trustees are inducted and en¢ouoged to attend WCVA trustee and olher courses. Page 6

TAI PAWB REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 STRUCTURE. GOVERNANCE AND MANAGEMENT Rlgk managemènt The board continued to review risk on a qu8rterty basis with ￿[M)rtS on progr8&s and thangè5 to risk rryistsr from senior managem8nt team who a￿ ￿pOnsi￿e for the day to day risk rn8nagement. Risks are split into corporate and practi( related risks. Al the end of the finanoal year Tai Pawb had 17 risks noie(J in the regi5t8r. Residual risk for 5 ri5k5 is low, for 12 risks is rnediurn with no nsks rated as high In March 2023 the board con$idered and develop￿ a newframework whlch deserib8S the organisations approach to risk appetite. This will enable the tKJard and stufF lo better oonsKler key risks and control measures rdating to diffe￿nt areas of tsperation and g0veman￿. Tai Pawb's Risk Manag8rnent Policy and Pfocedure has a150 been rev￿Wed this year, improving and clarifying some of the processes us8d by the organisatlon The tK)ard has also introduced a new k)olicy monitoring process, whereby pro9￿$ on polKy reviews is trackd an(J reported on a¢ each board meeting. This year the organisatKJns has also e<)rnmis$KJned 8 new rolling Health 8nd Safely Audit and Supwrt Service from Worknest. Management The Board of Trustees Managed mernb8rs of staff cornprising Chièf Executiv8 Officer, Head of BU51r￿SS, Head of Policies and Public Affairs. Policy Manager. Membership Manager, M8rnb8rship Offi￿r, Funding and Partnerships Manager, Housing Development man8ger. PRS Champions Manager, Communication5 and Marketing Offirer. Finan and A(IminislratM)n Officer. CEO and Senior Management Team work with the oversight from the board ol tru5t88S to support them in the fu￿lIMent of their obligations, in determining and reviewing the organisation's strategic dir8Ction and providing assuran￿ on Tai Pawb's activities, governanc8 and risk. Regular contact is maintained with th8 chair who holds 121 meetings with the CEO between board meetings. This is also done In consultation with staff, Whe￿ the CEO has r88ponsibility for overseeing the operational management of aspects of Tai Pawb together with the Senior Management T88m comprising ol Head of Business an¢ Head of Policy and Publtc Affairs. Throughout 2022-2023 all staff were working via 8 hybrid model wth acc8SS to part tr'me office and working from h)me. STATEMENT OF TRUSTEES. RESPONSIBILITIES The Iruslees (who are a150 the diwtors ol Tai Pawb for lh8 purposes of ￿rnpanY lawl are responsible lor preparing the Rewrt of the Tru5te8s and the financial 5tat8rn8nts in ac(x>rdan¢e wth applicab18 18w and United Kingdom A￿￿OUntIng Standards (United Kingdom Generally Accepted A¢counting Practicel including Financial R8POrting Slandard 102 "The Financial ReFK)rtiry Standard applicable in the UK and Republlc of Irdand". Company law requi￿$ the trustees to p￿pare financial statements for each financial year which give a true and fair view of the state of affairs of th8 charitable company and of the incoming resources anij application ol resources, including the income and expenditure, of the charitable company for that period. In preparing Ih05e financial statements, the trustoes are required to select Suitab￿ a¢wunting policies and then apply them ct)nsi5tently,' observe the methods and princip￿8 in the Charity SORP". mak8 judgements and estimates that a￿ reasonable and prudent,. state whether applicable accounting standards h8V8 b88n followed. subject to ary matenal departures disd058d and explaine(l in the financial stslements., p￿pa￿ the financial statements on the going con¢em basis unless it n% inappropnate to presume thal the charrtable c¥)mpaty will continue in business. Th8 trustees a￿ reSWnsib￿ for k88pin9 proper accounting re￿rdS which disdose with r8asonable a¢oJracy at any time th8 fin8ncia1 position of the charitable company and to enable them to erEure that the financial slatemenls cornply with the Companies Act 2006. Th8y are also responsible for saf8guarding the assets of th8 charitable ￿rnpanY and hence for laking reasonable 5tep$ for the prevention and det8CtK)n of fraud and other irregularities. In so far as th8 trustees a￿ awa￿.. there is no relevant audit informth'on of which the chantable (x)rnpanys auditors are unaware., and the Iruslees have tak8n 811 steps that th8y ought to have taken to make themselves awa￿ ol any rdevanl audFt infomation ané to establ￿tt that the auditor5 ar8 awar8 of that Inf0M￿tion. Pag8 7

TAI PAWB REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 AUDITORS 88van Buckland LLP w6ra appointed as the charitsble cornpanls auditors. Report of the trustees. incorporating a strdt8gic report. approved by ord8r of the boar¢J ol trusiees, as the cornpany d1￿CtOrS. on ....J. ￿.2s,..2O2.3................... and signed on the board's behalf by". Mr C Stephenson OBE- Trusiee Page 8

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF TAI PAWB Opinlon We have audited the financial statements of Tai Pawb (the 'ch8rilable wrnpany'l for th8 year ended 31 March 2023 which wmpri5e the Statement of Financial Activities. the Statern8nt of Financial PositK)n, the Statement of Cash Flows and n0te5 to the financial 5tat8ments, including a summary of sIgn￿l¢ant accounting policies. The finan(>al reporting framework that has been applied In their preparation is applicable law and Vnited Kingdorn Accounting Standards Iunited Kingdom Gen8r8lly Accepted Accounting Practi￿1, induding Finanrial Rew)rting Standard 102 Th8 Financial Reporting Standard applicable in the UK and Republic of Ireuqnd,. In ouropinion the financial 5talements". give a tnje and fair view ol the state ol th8 charitable wmpany'5 affairs as at 31 Marth 2023 and ol its incorning resources and application of resources, including its In￿)Me and expenditurè, for the year then ended,. have be8n properly prepared in 8(Lordance with United Kingdom Generally A￿pIed Acwunting Practice. including Financial Rewrting Standard 102 'The Finanoal Reporting Stan(Jar<J applirable in the UK and Repu￿1¢ of Irdand,; and have been prepared in accordance with the requirements of the Companies Act 2006. Basls for oplnlon We condijcled our audit in S￿rdanCe with Intemaiional Standards on Auditing IVKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit ol the financi81 st8ternents section of our report. We af8 independent ol the charitsble company in 8c¢ordance with th8 ethir￿1 reqU1￿MentS that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard. and w6 have fulfilled our other 8thic41 res5y)nsibilities in a¢eA)rdanc£ with thes8 reqU1￿Ments. We believe that the audit evi<Jence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Concluslons relating to golng eoncern In auditing the financial statements, we hav8 concluded that the trustees, use ol the going ￿n￿rn basis of accounting in the preparation ol the financial statements is appropriat8. Based on the work we have perfomied, we hav8 not identrf*d any material uncertainties relating to eV￿ts or eonditions that, individually or collectively. may cast significant doubt on the Charitab￿ eofflpany's ability lo continue as a goir@ concern for a period of at least twelve rnonlhs from when th8 financial slalement5 are aulhorised for issue. Our responsibilities and the responsibil￿leS of the trustees wth ￿Spect to going concem are described in the ￿leVant sections of this report. Other Infonnation The trustee5 are responsible for th8 Other information. The other informallon cornprises the information induded in the Annual Report, other than the financial stslements and our R8POrt of the Independenl Auditors the￿tsn. Our opIn￿)n on the financ481 statements doe5 nol cover the other information and. eX￿pt to the 8xtent olhemse explIu￿Y stated in our ￿pOrt, We do not express any fomi of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to r88d the other inftirmaiion and, in doing so. consider whether the other informath)n is materi811y inconsistent wth the financial statement5 or our knowledge obtainèd in the audit or othe￿ise appears to be mat8rially misstated. If we identfy suth material inconsistencies or apparent material misstatements. we a￿ wuired to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have perfomied. we conclud8 that there 15 a materi misstatement of this other information, we are reqUI￿d to report that fact. We have nothing to report in this reg8rd. Qplnions on other matters prescrlbed by the Companie$ A¢t 2006 In our opinion. based on the work undertaken in the course of the audit.. th8 iThfom)atv)n given in the Report ol the Trustees lor the finan(ial year for which the finanrial statements ara prep8red is Consistent wth the linanoal statements., and thg Resx)rt of the Trustees has been prepared in acwrdance wth applicable legal requirements. Matters on whl¢h we are required tc• report by exception In the ligm of the knowledge and understanding of the charitable company and its environmenl obtained in the Course of the audit, we have not identrfied material misstatements in the Report of the Trustees. We have nothing to report in respect of the following matters wherè the Companies Act 2006 requires us to report to you in ouropinion.. adequate accounting records have not been kepl or rdums adequate for our 8udit have not been received from branches not visited by us.. or the financial statements are not in agreement with the a¢￿untIng recorrjs and ￿t￿m$,. or Certain disclosures of trusie8$' remuneralon specified by law are not made,. or we have not received all the inf0mlat￿n and explanations we ￿qUIre for our audit. Pa9e 9

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF TAI PAWB Responslbilities of trustees As explained more fully in the StateM￿t of Trustees, Responsibilities. the trustees Iwtho a￿ also the directors of the Charitable tx)rnpany for the purposes ol company lawl are responsible for the preparation of the financial statements and lor being satisfied that they give a true and lair w8w, and for such int8mal control as the trustees detertnine is ne¢8ssary Its 8n8ble the prepar81ion of finanaal statements that are free frorn material misstatement. whether due to fraud or error. In p￿paring the financial statements. the trustees ar8 responsible for assessing the charitable ￿mpanY'S ability to continue as a going concem, disclosing, as applic8ble. matters related to going con(￿rn and using the going concern basis of accounting unless the trustee5 either intend lo liquidate the ¢haritsble (x)mpany or to ￿aSts operations, or have no ￿aliStIC alternative but lo dD SO. Our responslbllltles for the audlt of the financial sta¢ements Our objectives are to obtain reasonable assurance about whether the finanrAal staternenls as a who18 are free from material misstatement. kthether du8 to fraud or error. and lo issue 8 Report ol the Independent Auditors that includes our opinion. Reasonable assurance is a high levd ol assurance. but Is not a guarantee that an 8udil conducted In accordanc8 With ISAS IUKI will always delecl a material misstatement when it exists. Mi5Stalements can arise frorn fraud or errtsr and are considered material if. individually or in the aggregat8, they could reasonably be expected to influence the ecorKJrniC decision5 of users taken on the basis of these fin8n¢ial statements. The extent to which our prcKe(Jure5 are capable ol detecting irregularrties, including foud is detailed below.. Extent to whsch the audlt was considered capable of detecting irregularlties, includlng fraud We identfy and ass8SS the risks of material mi$slatemenl of the Fin8n¢ial Ststern8nts. whether due to fraud or error. and then. design and perfomi audit procedures ￿SponSive lo those risks, Sncluding obtaining audit evidence that is sUff￿ent and appropriate to provide a basis for our opinion. We discussed our budrt independence cornplying with the Rev￿￿￿ Ethical Standard 2019 with the engagement tewn members whilst planning the audit and continually monitored our independence throughout the proces5. Idenllfylng and assesslng potential rlsks ￿lated to irregularltles. In identifying and assessing risks ol material rnisststement in resp8Ct ol irregulariti85, induding fraud arnl non-o)mpli8nce with laws and regulations. our proce(lure$ included the followng.. enquinng ol management, induding obtaining and reviewing suprK)rting doeurnentslion. o)nceming the Charitls policies and procedures ￿lating to.. i¢Jentrfying, evaluating and complyin9 Vath laws and wulations and whether they wer8 awa￿ of any in5tanc8s of non-compliance., detecting and responding to the risks of fraud and whether th8y have knowledge of any a¢tual. sUsp￿ted or alleged fraud.. the Internal (x)ntrols established to mitigate risks rd8led to fraud or non-complian￿ with laws and regulations., discussing among the engagement team how and Whe￿ fraud rn￿ht occur in the financial Statern￿ts and any potential indicators of fraud. obtaining an understanding of the legal and regulatory frameworks that the Charity op8ra18s in, focusing on th058 laws and regulations that had a ￿l￿t effect on the financial Statements or that had a fundamental effect on the operations ol the Charity, The key laws and wulations we ¢onsidered in this (ontexl induded the UK Companies Act and relevant tax ￿g￿latiOn. AudS1 response to rlsks Identified In addition to the above. our procedures to respon¢J to risks identrfied induded the lollowing.. revi8wing the financial statement dtsckjsures 8nd tests'ng to 5UPPOrting d(￿m￿ntat￿n to assess itsnpliance wth relevant laws and regulations.. 8nquiring of rnanagernent concerning actual and poleniial litigation and claims,. performing analytical procedures to identify any unusual or unexpected relationships that may indicate risk5 of fnalenal misstatement due to fraud", reading minutes of meetings of those charge(I wth govemance., in addres51ry the risk ol fraud through management override ol contro15, le5¢ing the approprial8ness of journal entrie5 and other adjustments,. assessing whethei the judgernents made in makiro accounting estimates are iThJicativ8 of a potential bias., and 8valuating the operdtional rationale ol any significant transactions that are unusual or outside the nornial course of opeolions. We also Communicated ￿levant identified laws and r8gulations and potèntial fraud risks to all engagement team members and remained alert to any indicat￿rn$ of fraud or non-¢y)mplianc8 wrth laws and regulations throughout the audit. A further descripth)n of our r85ponsibilities for th8 audit of the financial statements is located on the Financial Rewrti Council's websit8 at www.frc.org.uklaudilorsresponsibilities. This description forms p8rt of our Report of the Independent Au(Jitors. Page 10

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF TAI PAWB Use of our report This ￿pOrt is made solely to the charbtable ￿MpanY'S mwnbers. as a body, in accordanr￿ with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work h85 been undertaken 50 that we might state lo the charitable companys rnernbers those matters we a￿ required lo state to them in an auditors, report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the charitable company and the charitats￿ company'5 members as a body, for our audit work, for this report or for the opinK)n$ we have lomed. Mic el Jones (Senior Statutory Auditor) for and on behalf of Bevan Buckland LLP charte￿ Accountants And Statutory Auditors Ground Floor Cardigan Htsus8 Castle Court Swansea Enterprise Park Swansea SA7 9LA Datè.. JÉ717.14.o.J.S................ Pag811

TAI PAWB STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2023 2023 Total funds 2022 Total funds Unreslric funds Restricted funds Not88 INCOME AND ENDOWMENTS FROM Charltsblè actlvitie$ Membership Fees Charitable Activitias 72,409 375.344 72.409 468,826 68.062 350,614 93,482 Investment in￿rne Other income 503 13,471 503 13.471 640 19,998 Totsl 461,727 93.482 555,209 439,314 EXPENDITURE ON Char6tabl• actlvltle$ CharitaNe Activrties 381,312 103.391 484.703 398,629 NET INCOMEIIEXPENDITUREI Olher rÈcogni$ed 9aln$llloss•sl Actuarial gainsllbssesl on defined benefit sch8m88 80,415 I9.￿9) 70.5( 40,685 26 0001 26,000 Net mov•ment In funds 54,415 19,9091 44.506 152,685 RECONCILIATION OF FUNDS Total funds brought foM8rd 249.894 34,059 283,953 131,268 TOTAL FUNDS CARRIEO FORWARD 24,150 283,953 The notes fomi part of the58 financ*al staternents Page 12

TAI PAWB IREGISTERED NUMBER: 052825541 STATEMENT OF FINANCIAL POSITION 31 MARCH 2023 2023 Total funds 2022 Total funds Unrestricted funds Restricted funds Note5 FIXED ASSETS Intangible as5et5 Tangible assets 12 975 4,952 975 4.952 2,276 264 5,927 5.927 2,540 CURRENT ASSETS Debtors Cash at bank and in hand 14 99.099 282.364 99,099 306514 71.618 285 576 24.150 381.463 24,150 405,613 357.194 CREDITORS Amounts falling due wthin one year 15 {27.0811 127.0811 129.7811 NET CURRENT ASSETS 354,382 24.150 378.532 327,413 TOTAL ASSETS LESS CURRENT LIABILITIES 24,150 384,459 329,953 peNSION LIABILITf 18 156,0001 I56.0￿) 146,0001 NET ASSETS 328.459 283 953 FUNDS Unrestr￿ed funds Restricted funds 17 304,309 24.150 249,B94 34.OS9 TOTAL FUNDS 328,459 283,953 The financial stslements W8r8 approved by the Board of Twstees and aulhorised for issue on .Jul..25,. 202.3................... 8nd We￿ signecl on ils behalf by.. Mr C Stgphenson OBE- Trust88 Ms S Prescott- Trustee Thg notes form part of thase financial ststements Pag8 13

TAI PAW8 STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Note5 Cash Ilows frorn operating a¢tlvltl•s Cash generate(J from operations 19.652 Net rash provi¢Je<l by op8fdting actmties 25,859 19.652 Cash flows from investlng ac¢lvltle8 Purchase of tangible fixed assets Interest recewed 15,4241 503 640 Net cash (used inyprovid8d by investing activitie5 640 Chan9e In Cash and cash equlvatent8 In the r8POrting period Cash and cash *quivalents Bt the beglnnlng of the reporting perlod 20,938 20.292 285.576 265.284 Cash and cash equivalents at tha end of the reportln9 period 306,514 285,576 The notes forrn part of these finanri81 sla¢ements Page 14

TAI PAW8 NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2023 2022 Net incorn8 for the reportlng perlod la8 por th• Ststenwnt of Flnanclal Activities) Adjustments for.. Depreciation Charges Interest ￿ceIVed Dee￿ase1(1n¢reaseI in debtors IDecrea5&yin¢￿8$e in creditors Difference between pension charge and cash ¢ontributions 70.5( 40,685 2,038 {5031 127,4821 12,7001 16,000 2.069 16401 121,5941 6,132 Net cash provlded by operatlons 25.859 19,652 ANALYSIS OF CHANGES IN NET FUNDS At 1.4.22 Cash flow At 31.3.23 Net cash C8$h at bank and in hand 285.578 20,938 .514 285,576 306.514 Tt)tal 285,576 20.938 306,514 The notes fomi part of these finanryal statements Page 15

TAI PAWB NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 STATUTORY INFORMATION T81 Pawb is a charrtable ¢ompany, limited by guar8ntee, regislere(l in Eryland and Wales. Th8 charity's registe￿￿ number and wistered oifice address ran be found on the R8fer8nce and Adrninistrdtive Details page. The presentstson currency of the financial statements is thè Pound Sterling (£1. ACCOUNTING POLICIES 8asis of p￿parIng th• financlal $tstements and ooing concern The financial 5tatement5 of the charltable company, which is a public benefit entity under FRS 102, hav8 been pr8pared in ￿(x)rdanCe wth the Charities SORP IFRS 1021 'Aceounling and Reporting by Chariti8s.' Statement of Recomrn8nded Practi￿ applicable to Charit￿e$ preparing their accounts In ac￿rdanCe Wlth the Finanoal Reporting Standard applicable in th8 UK and Republic of Ireland IFRS 1021 leffectiv8 1 January 20191,. Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic ol Ireland. and th8 Companies Act 2006. The financial statements have been p￿pared under the historical cost convention. The truste￿￿ o)nsider that ther6 ar8 no material uncertaints.es a￿ut the charitys ability to continue as a going concem. Income recognition All in¢ome is recognis8d in the Statement of Financial Activities once the charity has entitlement lo lh8 funds. any performance (x)ndilions atlache(J to th8 Itemlsl of In￿Me hav8 been m81, it is probable that the income ￿11 be eNed 8nd the amount can be rneasured reliably. Incom8 from gtsvemment and other grants, whether'capital, grants or 'revenu8' grants. is recognised wh8n the charity has entitlement lo the funds, any pertornance condrtions attached to the grants have been met. It Is protsa￿e that th8 incorne wll be rec8ived and Ihg amount can be mea5ur8d reliably an<J is not deferred. IAembership incorne is ￿￿nised when invoices for membership fee5 a￿ invol￿d to Ihe members. For existirKJ rnemb8rs Ihks would be the 1 April. and for new members this would be the date of applilzlion. Trainlng irTrcom& is recognised when th8 Charity h8$ entitlement to it which would gènerally be wh8n the training urse has been performed. Donation5 8re ￿cOgnised when the Charity has been notified in writing of both tha amount and seWement date. In the event that a donation is subject to conditions that require a level of p8rf0Mian￿ befo￿ the charity is entitled to the funds, the income is deferred and not recognised until either those contjilions are fully met. or the fulfilmenl tsf tlK)se conditions is wholly within ihe control ol the charity and it is probable that thos8 (xjndilions wll be fulfille(f in the reporting perio(S. Interest on fun¢Js held on derx)sil is included when receivable and the amount can be measured reliably by the eharity,. fftis is nom)ally upon rotificalion ol the interest paid or payable by the bank. Expendlture Liabilitie5 are recognised as expenditure as soon as there is a legal or conslrudive obligat40n commltting the charrty to that expenditu￿. it is probable that 8 transfer of economic benefits will be required in settlement and the afflount of the Ob1￿jatiOn can be rneasu￿ reliably. Exp8nditLJf8 is aw)urited for on 8n 8￿ru?19 basis and ha5 b8en classthed under headings that aggregate all cost ￿lated to the category. Where (x)sls cannot be dir8Ctly attributed to Particular headings they have b88n allocated to activities on a basis (onsistent wth the use of resou￿$. Intangible a$￿t• Intangible assets are Initially m8asured at wst. After initial reC￿nition, Intangl￿e assets are measured at cost less any accumulated amortisation and any accurnulated impairrnent losses. Website costs are being arnortised evenly over its estimated useful life 014 years. Comwter software is being amortise(J ev8nly over its estimated useful life of 5 years. Tan9iblt fixed assets Depreoation is provided at the following annual rates In or(Jer to write off each asset over its estimated useful life. Computer equipment 33% on cost P8ge 16 continued...

TAI PAWB NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2023 ACCOUNTING POLICIES- contlnved Tanglbl? fixed assets Cost comprises the purchase price Of the asset and expenditure dir8cdy 8ttribulable to the 8CqUlSltion of the item. A fixeij asset is derecognised upon disposal or when no future economic benefits are expected to arise from the continued use of thè asset. The gain or loss arising on the disposal of all asset is detemined as Ihe drfference between the 5a18 pr(￿d8 and thè carrying value of the asset, and is G￿lled or charged to the intsime statement. Impairnwnt of fixed assets The charity perforrns impairment testing where thgre are any indicator5 of impaim)ent. Imp3imienl is cakulated 8$ the drfference between the carrying value and the ￿t0Verable value of the a5581. Recoverable value is the higher of net realisable value and estimated value in use at the dale the irnpairment loss is re¢ognised. Value in use represents the p￿ent value of expected future discounted cash flows. If incurred. impairment 15 T￿OgnIsed imrnedialely In the in(x)me statement. Where an impairment ￿$$ subsequently reverses. the carrying valu8 of the asset 15 increased lo the wis8d estimate of the r￿verable amount, but so that the Increased carrying value does not exceed the Carrying value that would have been determined Il no impairment loss had been recA)gnis8d for the asset in prK)r years. A reversal of an impairment loss is ￿cOgNISed imrnedialely as a ¢￿dit to th& In￿Me statement. Corporation taxation The charity is exempt from corporation tsx on ils charitable 8¢tivilies. D•btor8 Trad8 and other debtors are recogni5ed at the Settlement arnunt due after any trade discount offerèd. Prepayrnents are valued al the amount prepaid net of any trade discounts due. Cash at bank and In hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short m8turity of three months or less from the date of acquisition or opening of the deposit or similar account. c￿lIorS and provisions Creditors and provisions a￿ ￿COgnised where the charity h85 8 present obligation resulting from a past event that wll prob8bty result in the transfer of funds to a third party and the amount ¢JuÈ to settle the obligation can be measured or estimated reliably. Creditors and prov5ions are normalW reeognised at their settlament amount after allowing for any trdde discounts due. Fund aceountlng un￿striCt￿l funds can be used in ac￿rdanCe with the charitable objectives at the di$¢retion ol the trust88S. Designated funds a￿ unrestricted funds eamiarked by the trustees.for particular purposes falliny in future lime periods. Restricted ftlnds can only be used for particular restricted purposes within the object5 of the charity. Restrictions arise when 5P8cifigd by the donoror when funds are fftised for particular restncted purposes. Further explanation of the nature and purpose of Bach fund is included in the no¢es lo the financial staternents. Pension costs and othor post.re￿rrnBnt b8n8frt8 The charity has Obl￿atIonS to pay pension benefits to certain ernploy88s. The pension al￿oUntIng disc105ure for this scherne has Changed from a Present Value Approach to a Defined Benefit Appn)ath in this finanaal year. This is due to Sufficient infomats'on now available for an employer In SHPS to a[￿Unt for ils obligation on a Defined B8n8fil basis li.e. stating assets and obligations). For defined benefit schernes the amounts charged to the Statement of Financial A¢tivitie5 are the current serwee Ix>sts and gains and Ios5e5 on settlernents and curtailments. They are included as part of staff costs. Past serwice Costs are reeogni5ed immediately in th& Statement of Financial Activities if the bèn8fits have vested. If the benefits have not vested immediately, the costs are ￿cOgnised over the period until ve$ting owurs. The interest Cost and 8xp8¢ted return on ass8ts are shown as a net amount of other finance costs or credits adjacent to Inler85t. A¢tuanal gains and losses are rewgnised imrn8dialely in the Statement of Financial Aclivilies. Page17 continued...

TAI PAW8 NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2023 ACCOUNTING POLICIES- contIn￿d Pgnslon costs and other post-retlrement btnefits Defined benefit schemes are funded, wth the assets of the scheme held separately from those of the charity, in separate trustee administered funds. Pension scheme assets are measured at lair value and liabilities are measured on an actuarial basis using the projected unit method and di5COUnt8d at a rate eouivalent to the current rat8 of return on a high quality (x)rporate bond of equiva18nt currency and tem) to Ihe scherne liabilities. The actuarial valuations ar8 obtsined at least triennially and are updated al each balance sheet dale. The resulting defined benefit asset or liability. n6t of the related defer￿d tax. is presente(I saparately after other net assets on the lace of the balance sheet. l•a8Wd Rentals paid under operatr'ng leases are charg8d io the SOFA on a straight lin8 basis over the period of the lease. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY The p￿paration of the financial statements require5 management lo make judgments. estimate5 and assumptions that affect the application of poliri8s and reported amounts of assets and liabilitie5, in(x)me an¢Y expen58s. The estimates and asso¢ialed assumptions arè based on historical experience and various other factors that are believed to b8 reasonable under the circumstances. the results ol which forrn the basis of making the judgments about carrying values ol assets and liabilitie5 that are not readity apparent from other sourcos. Actual results in the future may drffer Irorn the58 85tim8tes. Estirn8tes and underfying assurnptions are reviewed an ongoiry basis. Revisions to accounting 8Stimales a recognised in the period in which the estirnale is revised and in any futur8 periods affecte(l. PensKJn sch8me 8ssels are measured at fair value and liabilities are measure(f on an actuarial basis using the projected unit method and discounted at a rate equivalent to the current rate of fetum on a high Quality corporate bond of equivalent currency and term to the scheme liabilities. The actuarial valuations are obiained 8t least trienni8lly and a￿ updated at each balan¢e sheet date. The resulting d8fined benefit asset or liability, net of the related defer￿d tax, is presented separately after other net aSS8ts on th8 face of the balance sheet. E$tlmatl¢)n Uncertalnty The charity Makes estimates and assumptions ￿nCernIng the futu￿. The ￿sUltIng accounting estimates will, by definition, Seldom equal the related actual results. Managemtrnt eonsider their lo be no estimates and assumptions that have a signrfic8nt risk of causing a material adjustmenl to the carrying arnounts of assets and liabilities within the n8xi finanrial year. INVESTMENT INCOME 2023 2022 Bank aciyjunt Snterest 503 640 INCOME FROM CHARITABLE ACTMTIES 2023 2022 Activity Membership fees Membetship Fe8S Membership fees Charitable Aclivilies Conference and other events Charitsble Activities Grants Charitable Activities Consultancy fees Charitable Acllvitles Training Charitable Activities 72,409 296 11,225 408,600 14.0(K) 34.705 68,062 1,924 4,810 309,011 2.750 541,235 418,676 Grants re￿iVed, inclu(J8d in the above. are as follows-. 2023 2022 Welsh Govemment Grant Rayne Foundation 208.075 193,340 400 Carried forwar¢J 208,075 193.740 Page 78 contSnued...

TAI PAWB NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2023 INCOME FROM CHARITABLE ACTIVITies- contlnued 2023 2022 Brought forwar Oak Foundation WCVA Comi¢ Relief The Wallich 208.075 107.043 9,624 48,495 35,363 193,740 64,0 28,871 21.600 408,filO 308,211 CHARITABLE ACTMTIES COSTS Support sls (see note 71 Direct Costs TotaL8 Charitable Activities 424,757 59,946 484.703 SUPPORT COSTS Support eost5 Finance Totals Charitable Activities 281 59.665 59,946 NET INCOME1(EXPEND￿URE} Net Tncomell8xpenditure} Is stated after chargingllcreditin91= 2023 2022 Auditors. remuneration Auditors, ￿Muneration for non audrt work Depreoatitsn- owned assets Computer sofvare amortisation 5.874 1,429 736 1,301 5,197 1,228 1.301 TRUSTEES. REMUNERATION AND BENEFITS Th8re were no trust88s' r8rnunerat4.on or other b8nefits for the year ended 31 March 2023 nor for the ye8r ended 31 March 2022. Trust•os' expenses One trustee received a reimbursement ol travel and subsist9n￿ expenses totalling £15912022.. £Nill. STAFF COSTS 10. 2023 2022 Wages and salaries Other penSKJn CA)sIs 333,953 2.0(K) 267,078 2.000 335,953 269.078 The average rnonthty number ofernployees dudng the yearwas 8$ follows.. 2023 2022 Sgnior management team Office staff 10 No employees re￿iVed emolumènts in excess of£80,000. Page 19 continu&...

TAI PAWB NOTES TO THE FINANCIAL STATEMENTS. eontinued FOR THE YEAR ENDED 31 MARCH 2023 10. STAFF COSTS. contlnued During the year salaries of £116.84412022.. £107.1321 were paid to kèy rn8na9ement. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES 11. Unre5tricteil funds Restride(S funds Total funds INCOME AND ENDOWMENTS FROM Charitable a¢tlvltlès M8rnb8rship Fees Charitable Aetivities 68,062 300.143 68.062 350,614 50,471 Investment in¢ome Othar incorne 640 19,998 19,998 Total 388.843 50.471 439,314 EXPENDITURE ON Charitable activltles Charita￿e Activits'es 380,274 398.629 NET INCOME Transfers betsvetn funds Other recognlstd gains11103¥¢$1 ActU8ri81 gains on defined benefit sehem&s 8,569 11,9431 32,116 1,943 40.685 112,000 movement In funds 118,626 34,059 152,685 RECONCILIATION OF FUNDS Total funijs bmught fofward 131.268 131,268 TOTAL FUNDS CARRIED FORWARD 249,894 34.059 283.953 12. INTANGIBLE FIXED ASSETS Website development Costs Computer software Totsls COST At 1 April 2022 and 31 March 2023 9,990 6,504 AMORTISATION At 1 April 2022 Char9e for year 4,228 1,301 14,218 1.301 At 31 Marth 2023 NET BOOK VALUE At 31 Mard) 2023 975 975 At 31 March 2022 2.276 2.276 Page 20 continued...

TAI PAWB NOTES TO THE FINANCIAL STATEMENTS- eontlnu FOR THE YEAR ENDED 31 MARCH 2023 13. TANGIBLE FIXED ASSETS Computer equipment COST At 1 April 2022 Additions 4.911 5.424 At 31 Marth 2023 10,335 DEPRECIATION Al 1 April 2022 Charge for year 4,647 736 At 31 March 2023 5,383 NET BOOK VALUE Al 31 March 2023 4,952 At 31 March 2022 264 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Trade debtors Other debtors Prepayments 20,405 70.512 8.182 12,266 54,455 4.897 15. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Trade creditors S￿la1 security and other taxes Other creditors Aceruals and delerred income 3,866 8,440 2.163 12.612 2,169 6,394 1,803 19.415 27,081 29.781 16. LEASING AGREEMENTS Minimum le88e payments und8r non-¢an(ellable operating leases fall due as follows.. 2023 2022 Within one year Between one and five y6ar5 5.130 5,130 11,262 8.196 Page 21 (£Jntlnued...

TAI PAWB NOTES TO THE FINANCIAL STATEMENTS. eontinu FOR THE YEAR ENDED 31 MARCH 2023 17. MOVEMENT IN FUNDS Net movem9nl in funds Transfers belween fund5 At 31.3.23 At 1.4.22 Unrestrl¢tsd funds General funds Designate<l Funds Design8t￿l Capital Assèts 6.853 240,500 54,415 137.8751 34,489 23,393 274,989 249.894 54,415 304,309 Reltrieted funds Comic Relief- Housing Justic8 W818S Public Health Wales WCVA Third Sector Resilien Help End Hom81essness 3.245 1.943 28,871 2,177 11,9431 128,8711 18,728 5.422 18.728 34,059 TOTAL FUNDS 283 953 328.459 Net movement In funds, included in the above are as fdlows.. Incoming sources Resour(xs expended Gains and losses Mov8rnent in funds Unregtrl¢ted funds General funds 461,727 1381,3121 I26.0￿) 54,415 RÈstriet•d funds Cofflic Relief - Housing Justice Wales Public He8Mh Wales WCVA Third Sector R&sil￿nc Help End Homelessn8S8 48,495 146.3181 (1.9431 138,4951 16,6351 2.177 11.9431 128.8711 9,624 35,363 93,482 103.391 TOTAL FUNDS 555.209 484.7031 44,5( Comparatlva$ for mov•rt*nt in funds Net mov8ment in funds Transfers between funds At 31.3.22 At 1.4.21 Unr•strietèd fund6 General funds Designale(J Funds Oesignaled Capita1 Assets 8,144 118,515 4,609 122,638 1123,9281 121.985 6,854 240,500 2,540 131,268 120.569 Restricted funds Comic Relief- Housing JustlC8 Wales Public Health Wales WCVA Third Sector Resilien 11,9431 249.894 3,245 3.245 1,943 28,871 1.943 28,871 1.943 34.059 TOTAL FUNDS 131,268 152,685 283,953 Page 22 (xjntinued...

TAI PAWB NOTES TO THE FINANCIAL STATEMENTS- c¢)ntlnued FOR THE YEAR ENDED 31 MARCH 2023 17. MOVEMENT IN FUNDS- eontinued Cornparative net movement in funds, Included in the abov8 8re as follows." IncomiThJ resour￿$ Resources expended Gains and losses Movement in funds Unrestrocted funds General funds D85wJnaled Capital Assets 388.843 1378,2051 112,000 122.638 388.843 1380,2741 112,000 120,569 Restricted tund$ Cornic Reli8f- Housing Justice Wale5 WCVA Third Sector Resi1￿nf 21,600 28,871 118.3551 3.245 28.871 50.471 18,3551 32,116 TOTAL FUNDS 439.314 398,6291 112.COO 152,685 A rAJrr8nt year 12 months and pThor year 12 months cornbine(J p05rt￿n is as folbws." Net movement in funds Transfers betyveen fund5 At 31.3.23 At 1.4.21 Unrestrlctgd funds G8neral funds Designated Funds Designated Capital Assets 8,144 116,515 4,609 177,053 1161,8031 156.474 23.394 274,989 5,926 2,069 131,268 174.984 11,9431 304.309 Restrlcted funds Comic Relief - Housing Justice Wales Public Health Wales Help End Homelessness 5,422 11,9431 18,728 5,422 1.943 18,728 1,943 TOTAL FUNDS 131,268 197.191 328.459 A current year 12 months and prior year 12 rnonth5 combin8iJ net rnovemenl in funds, included in the above ara as follows.. Incoming resour￿$ Rasources 8xpended Gains and los%s Movement in funds Unrestrl¢ted fvnds General funds Designated Capital A5se¢s 850,570 1759.5171 86,000 177.053 2,0691 850.570 1761.5861 86,000 174,984 Re$trlcted funds Comic Relief- Housing Justice Wales Public Health Wales WCVA Thir¢J Sector Resilience Help End Hom81essness 70,095 164,6731 11,9431 138,4951 16,6351 5,422 11,943} 38,495 35.363 18,728 143,953 121 7461 22.207 TOTAL FUNDS 994 523 883,3321 86,000 197.191 Page 23 Continu￿...

TAI PAWB NOTES TO THE FINANCIAL STATEMENTS. contlnued FOR THE YEAR ENDED 31 MARCH 2023 17. MOVEMENT IN FUNDS- contlnued De$l9notsd Funds The designated funds are rnade up as follows.. 2023 2022 Net Running Costs Closure Costs Strategic Development Costs Pension Sch8me Costs 72.046 37,363 20,000 145,580 94,135 37,365 13,000 96.0(K) 274,989 240,500 The net ronniro costs repre58nt OV8r five months of the charily's expenditure, less memb8rship fees. Ck)sure costs represent the total expenditur8 that would be inujrred in the event of the chaThty ceasing to operate. The trustees have Th) current i%SU88 Imth the going concern ol the charity but believe it is prudent to set aside thi5 amount. Str8t8gic development Costs represents the fun¢Js set asid8 to help meet the charity's medium term strategic plan. Pension stheme costs rep￿SentS funds Set aside to help the charity meet the anticipated future losses in the pension 5cherne. 18. EMPLOYEE BENEFIT OBLIGATIONS The Penslons Trust- Soclal Housing Penslon Scheme ISHPSI SHPS is a rnulti employer pension schemes which provide5 benefits to non- associale(J parti¢ipatrn9 employers. The scheme is ¢lassed as a defined benefit scheme in the UK. The scheme is classified as 'last man stsnding, arrangement. The￿fOre 88ch employer Is liable for other participating etnpk)yer5' obligations Il those empbyers are unable lo Meet their share of the schem8 defiat following withdrawal from the scheme. Participating employers a￿ legally required to maet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme. FRS 102 requi￿ that an employer partirypating in a Defined Benefit scheme should rewgnise.. a liability for ils obligations under the s¢heme n8t of scherne assets and - the net chan9e in th8t liability during the awounting period as the cost of the Defined Benefit seh8m8 during the period The amunts recognlse(J in the Statement of Financial Activit1è5 are as folh)ws'. Defined benefit pension plans 2023 2022 Cu￿ent seNice cost Net interest from net defined benefrt 8ss8Vliability Past service cost Expenses 2.000 2.000 1.0(X) 3,000 6.000 Actual retum on plan as5et5 431,0001 Page 24 continued...

TAI PAWB NOTES TO THE FINANCIAL STATEMENTS- contlnuod FOR THE YEAR ENDED 31 MARCH 2023 18. EMPLOYEE BENEFIT 08LIGATIONS. continued ¢h8nges in the present value of the defined benefit obligation arè 85 follows= Defined benefit pension plans 2023 2022 Opening defino(I benefjl obligation Interest cost Expenses Actuarial Igainsylossès from scheme experience Benefits paid Rernea5ur8m8nt$'. Aeluarial IgainsJllosse5 frorn changes in demographic assurnptions Actuarial IgainsyIos585 from thanges in financial assurnplions 558,000 15.000 2.000 573,000 13,000 2.000 8,0(X) 14.0001 42,000 14.0001 11,0001 18.0001 60,0001 346,000 558.000 Changes in the lair value of scheme asset5 ar8 as follows= Defined benefit P8n5ion plans 2023 2022 Opening fair value of scheme assets Contributions by ernployer Int8re5t incorne Benelrts pald Return on plan assets lexdudiro interest incornel 512,000 19.000 14.000 14,0001 408,000 13,000 9,000 14.0(X)I 251,CX)01 290.000 512,000 The amounts ￿OgnISed in other ￿CognIsed gain5 and 10&$88 are as follows.. Defined benefit pension plans 2023 2022 Actuarial Igainsy5os585 from changes in demographi¢ assumptions Actuarial Igainsylosses from d)anges in financial 85surnplions Return on plan assets (èxcluding int8r8St income) Actuarial gainslllossesl from scherne expenence 1,O¢XJ 8,000 232.000 60,OIK) 1251.0001 86,0(K) 8,0001 42.0001 26,0001 112,000 Page 25 continued...

TAI PAWB NOTES TO THE FINANCIAL STATEIqENTS- conunued FOR THE YEAR EhlDEO 31 MARCH 2023 18. EMPLOYEE BENEFIT OBLIGATIONS- continued The major c*egories of schem8 assets as amounts ol totsl s¢hÈme assets a￿ as follows.. Defineil b8nefit pension plans 2023 2022 Global Equity Absolute Return C￿dI1 Relative Value Ernergiry Markets Debt Risk Sharing Insuranc&Linked seCurit￿e8 Property Infra5tructur8 Corporate Bond Fund Secured Inwme Liatslity Driven Investment Other 5.000 3.000 11,OLX) 2,000 21.0(K) 7,000 12.000 33,000 98,000 21,000 17.000 15.000 17,000 12,000 14,00) 37.OCK) 34,000 19,000 143,(KJO 85.000 13,000 134.000 49.000 290,000 512.000 Included in Other 8re the following types ol assets.. Distressed Opportunities. Alternallve Risk Premia. Private Debt, Opportunislic Illiquid fftdit, High Yield, Opportunlslic Credit, Cash, Liquid Credit. Long Lease Property. Currency Hedging and Nèt Current Assels. None of the lair value of the assets shown include any direct Investments in the employerfs own fin8naal instruments or any property occupied by. or other assets used by. the 8rnployer. Principèl actuarial assumptions at the Stat8rn8nt of Financrdl Positron date {expresse£l as weighted aver8ge$l.' 2023 4.81Yo 3.83% 3.14% 2022 2.77% 4.11Yo 3 39Y. 3.11% Discount rate Salary growrth RPI Inflation CPI Inflation The morality assumption5 adopted at 31 March 2023 imply the followng lrfe expectana&s'. Life expectancy 8t age ￿ {yearsl 21.0 23.4 22.2 24.9 Male retiring in 2023 Female retiring in 2023 Male retiring in 2043 Fernale ￿tIring in 2043 The charity has been notified by the Truste8 of the Scheme that it ha5 performed a review of the changes mad8 to the Scheme's b8nefils over the year5 and the ￿SuIt is that there is uncertainty surroundirvJ some of these changes. The Trustee ha5 been advised to seek clarification from the Court on these iterns. This process is ongoing and th8 matter is unlikely to b8 resolved before the end of 2024 at the earliest. It is re¢ognised that Ihls (x)uld potentially impact th8 value of Scheme liabilitie5, but until Court directions arts received, it is not possible to Calculate the impact of this issue. particularfy on an individual employer basis. with any awuracy at this time. No adjustment has been made in these finaneial statements in respect of this potential issue. Pagè 26 continued...

TAI PAW8 NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2023 19. RELATED PARTY DISCLOSURES During the y8ar £56.932 was receiv￿ from 9 org8nisalions where Tai Pawb trustees a￿ either trustees at these 0th8r organisatM)ns or hold rM)sitions of signth'cant influence12022.. £42.656 was received fvom 12 organis8tionsl. These fees were for membership subscriptions, Irdining, consultancy, and f9es to attend seminars. All transactions wèr8 conducted al an arm's length basi5. 20. SHARE CAPITAL The d)aritable cornpany is limited by guarantee and as such has no Sha￿ capital. In the event of the charitable company bèing wound up, the liability of each member is lirnited to £1. Page 27

TAI PAWB DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 INCOME AND ENDOWMENTS Inv88tm¢nt In¢ome Bank account interest 503 640 Charltable actlvlUe$ Mèmbership fees Conf&ren¢e and other events Grants Consuhancy fe85 Training 72.705 11.225 408,600 14,000 34.705 69,986 4,810 309.011 2.750 541,235 418,676 Other income Other ino)rne 13.471 19.998 Total rncomlng resour 555.209 439,314 EXPENDITURE Charltablè a¢tivltle¥ Staff tx>sts Office rent Insurance Telephone Postage and stationery Advert15ing Staff travel & subsistence Conf8rence staff attendance Publicatun costs IT 8 other equipment Legal & professional Training Subscriptions Event expenditure Human ￿sourceS support Recruitment (x)sts QED costs Computer software Depn of computer equSpment 333.953 6.192 1,075 2,316 267,078 6,192 1.062 2.206 378 2,110 428 617 2.573 10.384 7,655 20.192 4,186 1.028 2.126 1,432 15 1,301 768 1.920 1.941 4,384 5,359 8,772 19,499 24.108 3.781 3,991 3,182 1,080 323 1,301 737 424,757 332,331 Support costs Flnan¢e Bank Charges 281 Support Costs Pen5K)n scheme operating cost Auditors. remuneration Auditors. ￿mUneral￿)n for non audit work Consultancy fees Interest on pen5K)n sch8me liabilities 2.000 5.874 1.429 49.362 1,000 2,000 5,197 1,228 53,388 4.0(L) 59,665 65,813 Total resources 8xp8nd8d 484,703 398.629 Net Income 70.506 40,685 This page does not form part of the stslutory financlal statem8nts Page 28

This page d06s not form part of the statutory financi81 ststements Page 28

Tai Pawb Accounts year ended 31 March 2023 Final Audit Report 2023￿7-25 eaied.. 202&01-24 8y.' Lisa Ruffdl Ilisa.ruffell b8van￿￿E￿nd.(X).￿kl Slalus.. Signed Transaction ID.. ¢8JCHBCAI8AAaGfSg2ajvZNK12fa4cEPJgSRJOFwjYFw "Tai Pawb Accounts year ended 31 March 2023" History Document c¥eated by Lisa Ruff911 {li$[e-mail] 2023-07-24- 11'.45."59 GMT- IP address.. 193.115.210.162 * Document emailed to Sarah Prescott (Spresco￿al$s@9rn8lI.￿Ml for signature 202>07-24- 11'.52..52 GMT Email vitrwed by Sarah Prgscott Ispres¢[e-mail]} 2023-07.25. 10."32".30 GMT_ IP address.. 147.161.145.85 Document ethsign•d by Sarah Prescott {sprescOt￿a10s@gmaIl.c0MI SvJnature Dale.. 20234)7.25- 10."33."23 GMT- Time Sourre.. 8eryer- IP 8ddrwds." 147.161.145.85 * Do¢ument emailed to [e-mail] for signature 202>07-25- 10.'33'.25 GMT Email viewed by craigbst•[e-mail] 2023￿7-25- 15..09-.16 GMT- IP address.. 92.14.41.201 Signer craigbsteph$n$[e-mail] entered name al signing as Craig Stephenson 202￿?-25- 15.'10..13 GMT- IP athJress-. 92.14.41.201 Document frsignod by Craig Stephenson {[e-mail] Signature Dale." 2023-07-25- 15..10..15 GMf-Tirne StyJrc.' ser¥er- IP addre5s.' 92.14.41.201 O Agreèment completed. 2023-07-25- 15..10..1S GMT la Adobe Acrobat Sn

Audit Findings Report for the year ended 31[st] March 2023

Table of Contents

Executive Summary ............................................................................................................... 1 Audit approach ..................................................................................................................... 3 Areas of significant risk ......................................................................................................... 4 Additional audit risks ............................................................................................................ 5 Accounting estimates and judgements ................................................................................. 6 Internal Controls ................................................................................................................... 7 Adjustments from the draft trial balance ............................................................................. 8 Unadjusted misstatements ................................................................................................... 8 Other Matters ....................................................................................................................... 9 Appendix 1 – Auditor independence and objectivity.......................................................... 10 Appendix 2 - Strategic, Financial & Governance Health Check ........................................... 11

The contents of this report relate only to those matters which came to our attention during the conduct of our normal audit procedures which are designed primarily for the purpose of expressing our opinion on the financial statements and giving a value for money conclusion. Our audit is not designed to test all internal controls or identify all areas of control weakness. The terms and conditions, under which our audit will be performed, including our roles and responsibilities and auditors, are set out in our letters of engagement. These have been issued separately.

However, where, as part of our testing, we identify any control weaknesses, we will report these to you. In consequence, our work cannot be relied upon to disclose defalcations or other irregularities, or to include all possible improvements in internal control that a more extensive special examination might identify. We do not accept any responsibility for any loss occasioned to any third party acting, or refraining from acting on the basis of the content of this report, as this report was not prepared for, nor intended for, any other purpose.

Executive Summary

This report highlights the key issues affecting the results of the Charity and the preparation of the financial statements for the year ended 31 March 2023. It is also used to report our audit findings to management and those charged with governance in accordance with the requirements of International Standard on Auditing (UK) 260.

We are required to report whether, in our opinion, the Charity’s financial statements give a true and fair view of the financial position of the Charity and its income and expenditure for the year and whether they have been properly prepared in accordance with FRS 102.

Status of our audit	We have completed the majority of our audit work. The main items outstanding are: Agreeing designated and restricted fund balances Final review of post balance sheet events with the board
Audit opinion	On the completion of the items outstanding, we expect to issue an unmodified opinion.
Materiality	Final materiality has been set at £16,500, using a benchmark of 3% of turnover and taking into consideration total gross assets and other factors such as surplus for the year. A level of £825 has been set as our clearly trivial level.
Audit risks & other areas of focus	We have no significant items to highlight regarding significant audit risks and other areas of audit focus.
Accounting estimate and judgements	We have highlighted two key estimates and judgements. We have no issues to report in this area and considered the process of estimation to be appropriate and key assumptions to be well balanced for these items.
Internal controls	Our audit is not designed to test all internal controls or identify all areas of control weakness. However, where, as part of our testing, we identified any control weaknesses, we report these. Our work has not identified any control weaknesses this year.

Executive Summary

1

Adjustments from draft trial balance	We have made adjustments to the draft trial balance totalling £8,672 subsequently the charity’s surplus was increased by this amount. The adjustments are noted in further detail later in this report.
Unadjusted misstatements	We have not identified any unadjusted misstatements.
Other matters	Nothing else to report.
Independence	We are not aware of any relationships between Bevan Buckland LLP and the Charity that in our professional judgement, may reasonably be thought to bear on our integrity, independence and objectivity in performing our duties as auditors.

Acknowledgement

We would like to take this opportunity to record our appreciation for the assistance provided by Andrea Penny and other staff during our audit.

Executive Summary

2

Audit approach

The auditing findings report presents the observations arising from the audit that are significant to the responsibility of those charged with governance to oversee the financial reporting process, as required by International Standard on Auditing (UK) 260.

As auditor we are responsible for performing the audit in accordance with International Standards on Auditing (UK), which is directed towards forming and expressing an opinion on the financial statements that have been prepared by management with the oversight of those charged with governance. The audit of the financial statements does not relieve management or those charged with governance their responsibilities for the preparation of the financial statements.

Materiality

In performing our audit, we apply the concept of materiality, following the requirements of International Standard on Auditing (UK) (ISA) 320: Materiality in planning and performing an audit. The standard states that 'misstatements, including omissions, are considered to be material if they, individually or in the aggregate, could reasonably be expected to influence the economic decisions of users taken on the basis of the financial statements.

We determined overall materiality to be £16,500. We have considered whether this level remained appropriate during the course of the audit and have made no changes to our overall materiality.

Area	Planning materiality	Final materiality
Overall	£15,000	£16,500

We also set an amount below which misstatements would be clearly trivial and would not need to be accumulated or reported to those charged with governance because we would not expect that the accumulated effect of such amounts would have a material impact on the financial statements. We have defined the amount below which misstatements would be clearly trivial to be £825.

Audit approach

3

Areas of significant risk

We raised a number of significant risks in our audit plan where we detailed work we would be carrying out as part of our audit procedures. We performed procedures during the audit to address each of these risks and ensure the financial statements are free from a material misstatement.

Risk	Overall Risk Factor	Work completed, issues & assurance gained
Revenue recognition There is a presumption that revenue recognition is a significant risk on every audit engagement (ISA (UK) 240)	High	We examined and tested the process through which management has identified and quantified income. We also performed substantive testing on a sample of transactions. No issues were found in this area. Based on the work undertaken we are satisfied that revenue recognition is not materially misstated.
Management Override of Controls Management override of controls should be considered a risk on every engagement (ISA (UK&I) 240.74)	High	During the course of our audit we have undertaken the following procedures: Considered indication of management bias in accounting estimates and their overall appropriateness; and Reviewing journal entries and other adjustments made at the end of the accounting period. There are no issues we wish to bring to your attention arising from the procedures undertaken.
Going Concern – Pension deficit	Medium	During the course of the audit we have undertaken the following procedures: Reviewed budgets to ensure pension payments cab be made without a significant impact on reserves; Reviewed correspondence with SHPS to confirm the liability is not required to be paid in full; and Compared the assumptions used in calculating the liability with similar pension schemes to confirm it was calculated correctly. There are no issues we wish to bring to your attention arising from the procedures undertaken.

4

Additional audit risks

Risk	Overall Risk Factor	Work completed, issues & assurance gained
Treatment of expenditure between restricted and unrestricted funds	Low	We identified three restricted funds received this year. There are no issues we wish to bring to your attention arising from the procedures undertaken.
Creditors cut-off, accruals and completeness of creditors	Low	We reviewed invoices, payments and receipts around the year end to ensure they are accounted for in the correct period. There are no issues we wish to bring to your attention arising from the procedures undertaken.

5

Accounting estimates and judgements

Accounting estimates vary widely in nature and are required to be made by management when the monetary amounts cannot be directly observed. The measurement of these monetary amounts is subject to estimation uncertainty, which reflects inherent limitations in knowledge or data. The process of making accounting estimates involves selecting and applying a method using assumptions and data, which requires judgement by management and can give rise to complexity in measurement. We have outlined below a summary and how we assess the key accounting judgements applied by management.

Assessment

• We consider the estimate to potentially be materially misstated and disagree with judgements used to derive the estimate or estimation process We consider it unlikely that the estimate is materially misstated, however we consider assumptions used in the estimation process to be optimistic We consider it unlikely that the estimate is materially misstated, however we consider assumptions used in the estimation process to be cautious We consider the process of estimation to be appropriate and key assumptions to be well balanced

Key Estimate	Assessment	Summary of policy
Economic life of assets (depreciation)		The estimations of the useful economic life of the charity’s assets and are based on industry standards adjusted to reflect your own experience. We have no issues surrounding the basis of the estimate and disclosure.
Provision and accruals		Management bases its judgements on the circumstances relating to each specific event and upon currently available information. Accruals have been prepared from invoices after the year end and purchase orders not fulfilled at year end.

As part of the requirements of ISA (UK) 540 we will require written representations whether the methods, significant assumptions and the data used in making the accounting estimates and the related party disclosures are appropriate to achieve recognition, measurement or disclosure that is in accordance with applicable reporting framework and as such has been included on the draft letter of representation provided.

Accounting estimates and judgements

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Internal Controls

The purpose of an audit is to express an opinion on the financial statements. The matters reported here are limited to those deficiencies we have identified during the course of the audit and that we have concluded are of sufficient importance to merit being reported to you.

Our audit included consideration of internal controls relevant to the preparation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of internal control. We considered and walked through the internal controls for year ended 31 March 2023.

The following control issues were identified during the audit. These control issues are categorised according to the level of risk attached:

Red Significant weaknesses – risk of material misstatement Amber Significant deficiency – risk of significant misstatement Yellow Deficiency – risk of inconsequential misstatement

	Area of control	Issue and risk	Recommendations	Management Response
	No control weaknesses were identified during our audit testing this year

Follow up of prior year audit recommendations

The following summarises the progress made to implement recommendations identified in our prior year audit findings reports.

Assessment	Issue and recommendation	Update on actions taken to address the issue
	No control weaknesses were highlighted in the previous year

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Adjustments from the draft trial balance

We are required to report all items above our trivial threshold to those charged with governance, whether or not the financial statements have been adjusted by management. Below is a summary of the adjustments made from the initial trial balance received to the financial statements along with the impact on the primary statements.

	Income Statement	Income Statement	Balance sheet	Balance sheet
	Dr £	Cr £	Dr £	Cr £	Description
1	1,301			1,301	Amortisation of intangible fixed assets
2	737			737	Depreciation of tangible fixed assets
3		5,424	5,424		Tangible fixed asset additions
4		421	421		Write off historic debtor balances
5		16,057	16,057		Year-end movement on other debtors
6		3,125	3,125		Year-end movement onprepayments
7		5,000	5,000		Annual employers’ allowance for 2022/23
8		31	31		Bank interest notposted
9		6,804	6,804		Year-end movement on accruals
10		76	76		Openingdifference on reserves
11	3,000			3,000	Recognised operatingcosts of thepension scheme
12	26,000			26,000	Recognisedgain onpresent value of thepension scheme
13		2,772	2,772		Difference between monthlyemployer contributions to SHPSper report and sagepostings
	31,038	39,710	39,710	31,038	Accumulated effect of adjustments

The total aggregate of the above adjustments resulted in increasing the charity’s surplus by £8,672

Unadjusted misstatements

Below is a summary of any unadjusted misstatements identified during the course of our audit except for those deemed trivial. In line with ISA (UK) 450 ‘Evaluation of misstatements identified during the audit’ we will require a written representation confirming the reasoning for not making these adjustments.

	Income Statement	Income Statement	Balance sheet	Balance sheet
	Dr £	Cr £	Dr £	Cr £	Description
					No unadjusted misstatements have been identified.
	-	-	-	-	Accumulated effect of adjustments

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Other Matters

Fraud

• We have previously discussed the risk of fraud in our planning report. We have not been made aware of any material incidents in the period and no other issues have been identified during the course of our audit.

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Appendix 1 – Auditor independence and objectivity

Bevan Buckland LLP is required to maintain independence from Tai Pawb in line with the Ethical Standard (2019) issued by the Financial Reporting Council (FRC) and the ethical pronouncements established by the auditor's relevant professional body, in our case the Institute of Chartered Accountants in England & Wales. In addition, our reputation and continued success as a firm depends on us maintaining auditor independence. We have procedures in place to ensure that any conflicts of interest of which we are aware are communicated to directors and appropriate action taken. This includes all relationships between Bevan Buckland LLP and Tai Pawb that, in our professional judgement, may reasonably be thought to bear on our independence and objectivity of the audit engagement partner and the audit staff.

However, there may be factors known by the board of which we are not aware. Our letter of engagement requires the board to notify us if it becomes aware that any person becomes connected with Bevan Buckland LLP and we will be asking the board to give us written representations that there are no such matters at the conclusion of the audit.

The following other services are provided by Bevan Buckland LLP and the relevant safeguard applied is:

•Any adjustments are approved by Preparation of the financial management for processing and are included statements from the draft within our audit findings report which is trial balance presented to the Board prior to finalisation and approval of the financial statements.

• •Seperate teams within the firm are used to perform payroll services

Payroll Services

Maintaining and assessing our independence is a continual process throughout the audit cycle. However, we will formally confirm our independence and any significant matters we have considered in assessing any threats to our independence and objectivity in our Report to the board.

We have made enquires of all Bevan Buckland LLP teams providing services to you for compliance matters to ensure our independence is maintained.

In our judgement we have complied with the UK regulatory and professional requirements including the Ethical Standard (2019) issued by the FRC. We are not aware of any relationships between Bevan Buckland LLP and the companuy, that in our professional judgement, may reasonably be thought to bear on our integrity, independence and objectivity at the date of the audit plan. As a result we are able to express an objective opinion on the financial statements.

Safeguards

As part of the firms safeguards, all audits are subject to a review by a second partner or independent reviewing officer. The review undertook all high risk areas, significant judgements, financial statements, audit plan and audit findings reports.

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Appendix 2 - Strategic, Financial & Governance Health Check

Strategic	Current year	Prior year
Charity has stated strategic objectives in trustees report
Charity reports progress against these objectives
Are the activities of the Charity in line with the Charity objects?
Charity has a long term strategy/plan?
Charity produces an annual budget?
Charity reports against budget/strategy?

Financial	Current year	Prior year
Unrestricted surplus
Net current assets
Positive “free reserves”
Reserves policy in place
Reserves level in line with policy
What level of reserves are required?
Charity has budgets in place for at least 12 months
Over reliance on one large funder for grant income?

Risk	Current year	Prior year
Risk register in place
Risk Register regularly reviewed
Have all appropriate risks been identified?
Appropriate actions taken in response to risks identified

Governance	Current year	Prior year
Have the board held sufficient meetings in the year?
Is the financial reporting to the board clear, transparent, readily understood by all board members at each meeting?
Have the board reviewed their internal controls recently?
Are minutes of all board meetings kept?
Do you have procedures in place to deal with conflicts of interest?

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