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$5 for2023 with all online events free STRATEGIC REPORT Flnancial posltlon Total ineoffle for the year to 31 March 2023 was £555,209 12022.. £439.3141. The expendilure for tho year totalled £484,703 12022.. £398,629), lèaving a net surplus for th8 year of £70,506 before the movement on thè defined berefit pension ￿herne. Actuarial loss8s on the defined benèfit pension scheme provision of £26,000 12022". £112,000 gains) has been reported. Prlncipal fundlng sources Tai Pawb wntinues to supp￿rnent wre funding with incomè from membership fees. training. consultancy and T81 events. This year saw significant acb'ons towards greal8r financial sustsinability IT￿*Ud*rO seojring further funding from Welsh Govemment (see ab¢wel and National Lottery, further developrnent of e-18aming offer and review of membefship benefits and fees. Despite redUct￿)n in income from some services folltiwng Covid-19 pandemic, Tai Pawb had a fantastic finanryal result owng to.. in¢reasin9 membership income antj securing partngrship grant funding and Ixjmmissions. Page 4 TAI PAWB REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023 STRATEGIC REPORT Financial review Investment pollcy Investments are ruled by polia& (x)ntained in Tai Pawb finance handbook and the Memorandum and Artides of Association. Reserv83 poll¢y Tai Pawb conlirTrues lo have a reserves policy and to hold reserves. The organlsatK)n's reserves policy aims to mitigate against closure and invests in stralegic developrnent o)sts The amount ol reserves should ¢over 5 monlhs net operating costs plus closure costs. Organisation's balance sheet also reflects its liabilities in terrns of participation in Social Housing P8nsion Scheme. The organisation had a sufficient level of d8signaled r8serves in accordance with the policy at the end of March 2023. Trustees a￿ e105ely monitoring the ongoing effect of Social Housing Pension Scheme li8bililie$ 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(Jarsts 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 Designatests 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$a.ruffell@bevanbucldand.co.ukl 2023-07-24- 11'.45."59 GMT- IP address.. 193.115.210.162 * Document emailed to Sarah Prescott (Spresco￿al$s@9rn8lI.￿Ml for signature 202>07-24- 11'.52..52 GMT Email vitrwed by Sarah Prgscott Ispres¢ottwales@gmail.com} 2023-07.25. 10."32".30 GMT_ IP address.. 147.161.145.85 Document ethsign•d by Sarah Prescott {sprescOt￿a10s@gmaIl.c0MI SvJnature Dale.. 20234)7.25- 10."33."23 GMT- Time Sourre.. 8eryer- IP 8ddrwds." 147.161.145.85 * Do¢ument emailed to craigbsleph8nson@gmail.com for signature 202>07-25- 10.'33'.25 GMT Email viewed by craigbst•phenson@9mail.com 2023￿7-25- 15..09-.16 GMT- IP address.. 92.14.41.201 Signer craigbsteph$n$on@gmail.com entered name al signing as Craig Stephenson 202￿?-25- 15.'10..13 GMT- IP athJress-. 92.14.41.201 Document frsignod by Craig Stephenson {tyalgbstsphenson@gmail.coml 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 S*n # **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 6 ## **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|| 7 ## **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**| 8 ## **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. 9 ## **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. 10 ## **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?||| 11 Bevan::Buckland LLP Chartered accountants, tax and financial planners 'Your Local Financial Team" con￿￿u5. Folow uson: P Ground Floor. Cardigan House. Castlecourt. Swansea EnterprA5e Park.SwanseaW 91A J 01792 41011x1 l @bevanbuckland In @bEvanbuckland @bEvanbuckland Q @bevanbuckland mail@bEvanbuckland.co.uk