2025-03-31-accounts

REGISTERED COMPANY NUMBER: 05282554 (England and Wales) REGISTERED CHARITY NUMBER: 1110078 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 FOR TAI PAWB Bevan Bud(land LLP Chartered Accountants And Statutory Auditors Ground Floor Cardigan House Casue Court Swansea Enterprise Park Swansea SA7 9LA

TAI PAWB CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Page Reference and Administrative Details Report of the Trustees Report of the Independent Auditovs 9 to 11 Statement of Financial Activities 12 Statement of Financial Position 13 Statement of Cash Flows 14 Notes to the Statement of Cash Flows 15 Notes to the Financial Statements 16 to 27 Detsiled Statement of Financial Activities 28 to 29

TAI PAWB REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2025 TRUSTEES M5 S Pres(x)tt (VI￿ Chairl Mr C Stephenson OBE {Chairl Dr L C0rdery-Bnj￿ (resigned 28.1.251 Mrs E S Gilbert Mr G Findlay {resigned 14.5.24) Ms C Clark Mrs N T Jones Mrs L J Hamer Ms M Elmirghani Mr J A Dowdall Ms A Pri￿ lappoinled 28.1.25) REGISTERED OFFICE Mariners House East Moors Road Cardiff CF24 STD REGISTERED COMPANY NUMBER 05282554 {England and Wales) REGISTERED CHARITY NUMBER 1110078 INDEPENDENT AUDITORS Bevan Buckland LLP Chartered Accountants And Ststutory Auditors Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA Page 1

TAI PAWB REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities. Statement of Recommended Practice applicable lo charities preparing their accounts in accordan￿ wth the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 102) leffective 1 January 20191. OBJECTIVES AND ACTIVITIES Objectives and aims Tai Pawb's objectives are contained in rts Constitution. Its key objective is .to promote equality and diversity in the provision of housing in Wales, in partic#Jlar social housing, for the benefit of the public in Wales by the elimination of discrimination on the grounds of race, age, disability, gender, transgender, sexual orientation or religion or belief." The organisation's Strategic Plan 2021-2026 contains the followng.. ion A Wales where everyone has the right to a good home. What we do We advan￿ equality, diversty social Justi￿ in housing in Wales Strategic Objectives and Priorities Tai Pawb works to 3 strategic objective5 and relevant (x)rresponding priorities.. Shape the change Campaign for a legal right to housing in Wales Help build an anti-racist Wales Champion disabled people's housing rights Promote LGBTQ+ rights Champion equal rights for homeless and vulnerably housed people Advocate an equitable response to the dimate emergency Make the change Broaden the reach and impact of our transformational QED Award Focus on cultural change Amplify our message Increase connection wlh members Embed lived experien￿ in our worf( Be the change Lead by example Become more agile and reffective Nurture new and existing partnerships Grow our capacity to deliver Page 2

TAI PAWB REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 OBJECTIVES AND ACTIVITIES Key Achievements Sha e the chan Campaigning for a leg81 right to housing in Wales Welsh Govemment White Paper on Fair Rents and Right to Adequate housing published thanks to campaign influenryng Over 70'/o of RSL CEO'S sign draft bill in support of the campaign Backbench legislative motion for the right to adequate housing re￿iVeS cross-party support in the Senedd Champion disabled people's housing rights WG pattern book- disabled tenants and those wth lived experien￿ to be offered 'post-occupation review on new builds lo improve nexi iteration of the book Help build an anti-raast Wales Racial diversity of housing association boards increases further to 9Q/o that's to our and sector work Leading on strategic support, sector reflection and challenge in response to racist riots Recommendations of race subgroup of Ending Homelessness National Advisory Board Ichaired by Tai P8wbl a￿pIed by WG and the board Some updates to ARWAP and Nation of Sanctuary Plan {in ARWAP) based on Tai Pavkn feedbad( Successful engagement with LA'S and increased interest and delivery on ARWAP Anli-racism sector survey launched Promote LGBTQ+ rights Significant awareness raising activity via social media, resou￿ newsletters and bespoke member sessions and first lime coordination of sector presence at Pride Cymm Champion equal rights for homeless and vulnerably housed people Rent Smart Wales to promote TP designed hate crime training as per TP suggested ARWAP changes Inclusion in recommendations in Local Govemment and Housing Committee of PRS Guarantor Scheme, later included for consultation with WG Rental Health Cymru summit Restarting the Landlord For a in Gwent thal now run independently Successful raft of training for landlords and tenants Completion of 3 year Housing a Nation of Sanctuary Project with Housing Justi￿ Cymru and partners., raised awareness and built capacity in the sector to accommodate refugees,. created an e4earning module to raise awareness and share good practi￿,. used lived experience to improve policy, ensuring that housing solutions nlre the voices of those with lived experience of asylum system 3 Stronger Together sanctuary seeker events" 4 Ac￿sSible Housing Partnership sessions Advocate equitable response to climate emergency Equitable response to dimate thange research Trmth Open University th 4 roundtables and research groups to be launched the year after Make the chan Broaden the reach and impact of our transfomiational QED Award 10 organisations achieved or working towards QED 2nd Organisation commits to QED Leaders Page 3

TAI PAWB REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 OBJECTIVES AND ACTIVITIES Focus on cultural change Leading on cullure-led strategic support, sector reflection and challenge in response to racist riots 550/0 increase in attendee Confiden￿ to deliver followng our cultur&focused training sessions Development of new cultur&led courses.. unconscious bias in recnjitment, cuttural competency and neurodiversity Amplify our message 61 mailer member updates sent- 4 thematic briefings developed and viewed by 1.9k people12.5 times more than last yearl", 1465 mailing list subscribers1+160 from last yearl 223 inputs into Welsh Government Policy, 148 into Senedd work (both increases from last year) 34 policy changes adopted by Welsh Govemment as a result of our work 61 mentions of Tai Pawb in Welsh Govemment or Senedd publications or member contributions Increase connection with members Answered 102 helpline inquiries & completed 101 training sessions Delivered consistent 22 free events wth 693 people attending {c£)mpared to 364 ￿ years ago) Significant training impact wth 550/0 increase in Confiden￿ post training 1006 people attended our training - +100 increase from last year Increased membership to 81 members1+41 and engaged 96 % of our membership (through 1654 separate instances of engagement) Embed lived experien￿ in our work Engaged 355 people Vrfilh lived experien￿ of inequalrty in our work via training, focus groups, sessions and as speakers Promoted Tai Pawb prinaples of lived experience Be the chan Lead by example Published our EDI plan update and diversity stat151ic3 update Become more agile and reflective Conduded 4 Day Week 12 month pilot and introduced 4 Day Week permanently, gaining national accredialion Nurture new and existing partnerships Continued working together with our highly effective Bad( the Bill coalition alongside CIH Cymru and Shelter Cymru Further developed partnership and joint programmes ofwork wth Open Universty Continued development of a new partnership focusing on aC￿sSible housing ￿ three organisation Grow our capaaty to deliver Further developed e-leaming offer, wth first bookings corning through Exceeded fundraising targets STRATEGIC REPORT Financial position Total income for the year to 31 March 2025 was £580,425 12024". £573,735). The expenditure for the year totalled £547,140 12024." £529,677), leaving a net surplus for the year of £33,285 before the movement on the defined benefit pension scheme. Actuarial gains on the defined benefit pension scheme provision of £18,00012024.. £24,000 lossl has been reported. Principal funding sources Tai Pawb continues to supplement core funding with income from membership fees. training, consultancy and Tai Pawb events. This year saw continuing actions towards greater financial sustainability induding continued development of e-leaming offer. Tai Pawb continued its fantastic finan￿al retum from training and consultancy from last year, where we reached nearly double the target surplus from these activtties. Investment policy Investments are ruled by poliaes contained in Tai Pa￿ ffinan￿ handbook and the Memorandum and Articles of Association. Page 4

TAI PAWB REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 STRATEGIC REPORT Financial review Reserves policy Tai Pawb continues to have a reserves policy and to hold reserves. The organisation'5 reserves policy aims to mitigate against dosure and invests in strategic development costs. The amount of reserves should cover 5 months net operating costs plus c105ure costs. Organisalion's balance sheet also reflects its liabilities in leryns of participation in Social Housing Pension Scheme. The organisation had a sufficient level of designated reserves in accordan￿ wth the policy al the end of March 2025. Trustees are dosely monitoring the ongoing effect of Social Housing Pension Scheme liabilities and its impact on rese￿es. Tai Pawb sets aside a designated reseNe to reflect the long tem, not immediately payable effects of the Social Housing Pension Scheme liabiltiy. On a day to day basis it ensures that contributions required to the fund are induded wthin budgets and factored within medium temi plans. Likewise it considers the associated risks as part of its ongoing risk management, and receives penodic review by the Board as a specific topic. Reserves policy is shared and revIeV￿ by the trustees each year ahead of year end to ensure sufficient level and appropriate use of reserves. The policy ¥MII be next reviewed in July 2025 with a new provision that additional funds may also be designated for setting off actuarial gains against possible future losses on the Social Housing Pension Scheme. Social Housing Pension Scheme Following a decrease in Tai Pa￿ estimated debt on wthdrawal amount compared to previous year, the board carried out a comprehensive exercise in considering potential vmthdrawal. Due diligence review was commissioned to Quantum Advisory to aid the considerations. Followng the due diligence exerase and a report from the advisors, the b08rd decided against withdrawal at that time, after careful consideration of risks and impacts. Reasons are outlined below.. Value for Money.. the cost of in addition to what we will pay if we remain is considered loo high in companson to the key benefit it would deliver, which is a complete removal of the risk of pension liabilities increasing land therefore affecting our accounts as in the past & potential new pension debt in the future) Affordability.. there would be a one of cost induding debt itself. advi￿, SHPS own costs to re-calculate the debt. The risk of high one-off spend was considered too high and would potentially put Tai Pawb in a 'very tight, and risky finana81 position. Additional actions agreed were". Consideration of reserves Fiolicy Annual review of the situation and decision followng debt on withdrawal calculation Social housing pension scheme continues to be monrtored by the board as a standalone risk wth pension update being a standing agenda item in senior management team's board report at each board meeting. Plans for Future Periods These plans are outlined in our new Strategy 2021-2026 and Business plan. Intemally this is supplemented by Work Plan which is developed on an annual basis. Page 5

TAI PAWB REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Govemance Structure The charity is controlled by its governing documen( a deed of trust. and constitutes a limited company. limited by guarantee, as defined by the Companies Act 2006. The charity's governance structure is supported by its constitution document, the Memorandum and Articles of Association and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. The charity has a membership structure consisting of categories of membership, wth these being Supporters, AfFiliates, Commercial, Full Members. The charity's board of trustees can have at least nine and no more than eighteen members, all of ￿0M must be over the age of eighteen. Each category of membership has been allocated a specific number of seats on the Board. These categories were reviewed and amended in 2024.. Cooptees category has been reduced to a maximum of 3 seats and a new elected specialist input category has been created comprising of maximum three seats for any Tai Pawb members with skills needed on the board- as determined by the board from time to time. The number of places allocated to each category of membership is detailed below. Number of Seats Available Category of Membership Supporters Affiliate (Third Sector) Full Member (Local Authorib'esl Full Member (Registered Social Landlords) Affiliate (Other Housing Interests) Co-optees (Recruited by the board) Specialist Input TOTAL NUMBER OF SEATS 18 Annual General Meeting Tai Pawb held ils Annual General Meeting on 10 DeCeM￿r 2024. The audited accounts were presented to the Board by the independent auditors at the Board meeting. The Chair and CEO went through their respective report5 ￿th regards to Tai Pavrt)'s activrties in the preceding year. Trustee Induction and Training The trustees attend a number of Board meetings on a regular basis. Tai Pawb holds events and seminars across Wales and some of Tai Pa￿j,$ Board members attend these events to increase their kno￿edge and experien￿ around equality and diversity issues. All new trustees are inducted and encouraged to attend WCVA trustee and other courses Board rellection Each year, the chair undertakes aengagement wth each board member to re11ect on g0veMan<￿ and board performance over the preceding year. This yea￿S exercise key recommendation led to a review of board meeting structure ¥Mth a new, more strategic and forward looking slructure introduced in April 2025. Page 6

TAI PAWB REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 STRUCTURE. GOVERNANCE AND MANAGEMENT Risk management The board continued to review risk on a quarterly basis wth reports on progress and changes to risk register from senior management team who are responsible for the day-t(kday risk management. Risks are split into corporate and practice related risks. Al the end of the financial year Tai Pawb had 18 risks noted in register. Risk for 3 risks was low, for 1 risk - high and 14 is medium. In March 2025 the board conducted a review and development of new risk register, enabling better tracking of mitigating actions and consideration of indented tsrgel risks and Tai Pa￿'S risk appetile. New risks related to anti-EDI sentiment were added. In 2024-2025 Tai Pawo board developed and approved a scheme of delegation which dariffies authority in relation to key policies and areas of operation of Tai Pawb. The scheme has improved darity in temis of decision making delegated to staff and deasions sitting Mth the board. Cybersecurity.. Tai Pawb has successfvl achieved its Cyberessentials accreditation second year in a row. In order to minimise the increasing Cybersecurity risks Tai Pavh) has also.. Commissioned a Pii Protect service through ils IT provider- Orbits IT. The Servi￿ provides annual and ongoing Cybersecurity training lo the whole team., runs mod< Phishing attad(s wlh reports against each employee,. scores the organisation based on training completion and phishing attack response. Tai Pawb have opted-in to be provided with new Endpoint Detection and Response Sothre IEDR} provided by ort)its IT. The EDR soknre has been carefvlly selected and implemented to bolster our existing security infrastructure and provide advanced threat detection capabilrties. It wll actively monitor and analyse endpoint activities, enabling us to proactively identify and respond to potential security incidents. This proactive approach 11 significantly strengthen your defence against emerging cyber threatsthreats Management The Board of Trustees managed members of staff comprising Chief Executive offi￿r, Head of Membership and Partnerships, Head of Policy and Public Affairs, Policy Manager, Membership Manager, Membership Officer, Funding and Partnerships Manager, PRS Champions Manager, Communications and Marketing Manager, Finance and Administration OffI￿r and Anti-racism Manager. CEO and Senior Management Team wort wth the oversight from the board of trustees lo support them in the fulfilment of their obligations, in delemiining and reviewing the organisation's strategic direction and providing assurance on Tai Pawb's activtties, govemance and risk. Regular contact is maintained th the chair who holds 121 meetings wth the CEO between board meetings. This is also done in consultation v¥ith staff, where the CEO has resF)onsibility for overseeing the operational management of aspects of Tai Pawb together wth the Senior Management Team comprising of Head of Business and Head of Policy and Public Affairs. Throughout 2024-2025 all staff were working via a hybrid model with a￿sS to part tsme Offi￿ and working from home. Considerable V￿rk was undertaken this year on 4 Day week pilot wth careful planning. training, research and evaluation pre-launch, at mid point and endpoint. Final report showed significant benefits to the introduction of 4 day week wth performance maintained or improved in some areas. On the basis of this the board agreed lo full and pemanent implemenlalion of 4 day week Isubject to ongoing monitoring). STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees Iwho are also the directors of Tai Pawb for the purposes of company lawl are responsible for preparing the Report of the Trustees and the financial statements in accordan￿ with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practi￿) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the trustees to prepare finanaal ststements for each ffinan￿aI year which give a true and fair view of the slate of affairs of the charitable company and of the incoming resour(*s and application of reSoUr￿s, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them con5islendy', observe the methods and principles in the Charity SORP., make judgements and estimates that are reasonable and prudent., state whether applicable accounting standards have been followed. subjecl to any material deparbjres disclosed and explained in the financial statements., prepare the financial slalements on the going con￿rn basis unless rt is inappropriate lo presume that the chantable company wll continue in business. Page 7

TAI PAWB REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 STATEMENT OF TRUSTEES. RESPONSIBILITIES - continued The trustees are responsible for keeping proper accounting records which disdose wlh reasonable accuracy al any time the financial position of the charitable company and to enable them lo ensure that the finan￿al slalemenls comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hen￿ for tsking reasonable steps for the prevention and detecb.on of fraud and other irregularities. In so far as the trustees are aware". there is no relevant audit infomiation of which the tharitable company's auditors are unaware- and the trustees have taken all steps that they oughl to have taken to make themselves aware of any relevant audit infomalion and to establish that the auditors are aware of that infomalion. AUDITORS Bevan Buckland LLP were appointed as the charitable company's auditors. Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on -.Aug 5, 21125................. and signed on the board's behalf by". Sakak Treicoè Ms S Prescott- Trustee Page 8

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF TAI PAW8 Opinion We have audited the financial statements of Tai Pawb (the 'charitable cornpany'l for the year ended 31 March 2025 which comprise the Statement of Finanryal Aclivities, the Statement of Finanryal Position, the Statement of Cash Flows and notes to the finanryal slatemenls, induding a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi￿), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland.. In our opinion the finanaal statements.. give a true and fair view of the state of the charitsble company's affairs as at 31 March 2025 and of its incoming resources and application of resources, induding its income and expendtture, for the year then ended", have been properly prepared in accordance wth United Kingdom Generally Accepted Accounting Practic£, including Finanaal Reporting Standard 102 'The Finanaal Reporting Stsndard applicable in the UK and Republic of Ireland," and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordan￿ ¥Mth International Standards on Auditing {UKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance wth the ethical requirements that are relevant to our audit of the finanaal statements in the UK including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordan￿ with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriale to provide a basis for our opinion. Conclusions relating to going concern In auditing the finanaal statements, we have conduded that the trustees. use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfom)ed, Y￿ have not identified any material uncertainties relating to events or condib'ons that, individually or collectively, may cast significant doubt on the charitable company s ability to continue as a going concern for a period of at least twelve months from when the finanaal statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concem are described in the relevant sections of this report. Other infonnation The trustees are responsible for the other infomiation. The other infomiation comprises the infomation included in the Annual Report, other than the financial ststements and our Report of the Independent Auditors thereon. Our opinion on the finanual statements does not cover the other inft)rmation and, eX￿p1 to the extent otherwise explicidy stated in our report, we do not express any fom) of assuran￿ condusion thereon. In connection ¥Mth our audit of the financial statemenls, our responsibility is to read the other infomialion and, in doing so, consider whether the other information is materially inconsistent wth the financial statements or our knowledge obtained in the audit or olhewse appears lo be materially misstated. If we identify such material inconsistencies or apparent material misslatemenls, we are required to determine ¥thether this gives nse lo a material misstatement in the financial statements themselves. If, based on the work have perfomied, we conclude that there is a material misstatement of this other infomiation, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by Ihe Companies Act 2006 In our opinion, based on the work undertaken in the COU￿ of the audil.. the information given in the Report of the Trustees for the financial year for whith the finanaal statements are prepared is consistent wlh the financial slalements", and the Report of the Trustees has been prepared in accordance wrth applicable legal requirements. Matters on which we are required to report by exception In the light of the kno￿edge and understanding of the charitable (x)mpany and its environment obtsined in the course of the audit, we have not identified material misstatements in the Report of the Trustees. We have nothing lo report in respect of the following matters where the Companies Act 2006 requires US to report to you if, in our opinion.. adequate accounting records have not been kept or retums adequate for our audit have not been re￿iVed from branches not visited by us., or the finanaal statements are not in agreement wth Ihe accounting records and retums.. or rtain disclosures of trustees. remuneration speafied by law are not made,. or we have not re￿iVed all the information and explanations we require for our audit Page 9

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF TAI PAW8 Responsibilities of trustees As explained more fully in the Staternent of Tru5tees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law} are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal conlrol as the trustees determine is ne￿SSary to enable the preparation of finanaal statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the truslees are responsible for assessing the charrtable company's ability to continue as a going concem, disclosing, as applicable, matters related to going concem and using the going concem basis of accounting unless the trustees either intend to liquidate the charitable company or to ￿ase operations, or have no realistic allemative but to do so. Our responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a ￿Ole are free from material misstslement, whether due to fraud or error, and to issue a Report of ihe Independent Auditors that includes our opinion. Reasonable assurance is a high level of assuran￿, but is not a guarantee that an audit conducted in accordan￿ wth ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influen the economic decisions of users taken on the basis of these financial statements. The extent to which our pror£dures are capable of detecting irregularities. induding fraud is detailed below". Extent to which the audit was considered capable of detecting irregularities, including fraud We identify and assess the risks of material misslatemenl of the Finanaal Sialements, whether due to fraud or error, and then, design and perfomi audit procedures responsive to those risks. including obtaining audit eviden￿ that is sufficient and appropriate to provide a basis for our opinion. We discussed our audit independence complying the Revised Ethical Standard 2024 wth the engagement team members whilst planning the audit and conb'nually monitored our independence throughout the process. Identifying and assessing potential risks related to irregularilies. In identifying and assessing risks of malenal misslalement in respect of l￿egularl11es. including fraud and non-compliance wth laws and regulations, our procedures included the followng.. enquiring of management, including obtsining and reviewng supporting documentation, Con￿mIng the Charity's policies and procedures relating to.. identifying, evaluating and complying with laws and regulations and whether they ¥here aware of any instances of non-compliance- detecting and responding to the risks of fraud and whether they have knowledge of any actual. suspected or alleged fraud., the intemal controls established to mitigate risks related to fraud or non-complianc£ with laws and regulations., discussing among the engagement team how and where fraud might occur in the finanryal statements and any potential indicators of fraud. obtaining an understanding of the legal and regulatory frameworks that the Charity operates in, focusing on those laws and regulations that had a direct effect on the financial statements or that had a fvndamenlal effect on the operations of the Charrty, The key laws and regulations we considered in this context included the UK Companies Act and relevant tax legislation. Audit response lo risks identified In addition to the above, our procedures to respond to risks identified included the follwng.. reviewing the financial statement disdosures and testing to supporting documentation to a55ess compliance with relevant laws and regulations., enquinng of management tx)n￿rning actual and potential litigation and claims.. perfoming analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due lo fraud., reading minutes of meetings of those charged wth governan￿., in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments", assessing whether the judgements made in making accounting estimates are indicative of a potentl81 bias," and evaluating the operational rationale of any significant transactions that are unusual or outside the nom)al course of operations. We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-complian￿ with laws and regulations throughout the audit. A further description of our responsibilities for the audrt of the finanual statements is located on the Finanaal Reporting Council's website at ww.frc.org.uklauditorsresponsibilities. This description fomis part of our Report of the Independent Auditors. Page 10

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF TAI PAW8 Use of our report This report is made solely to the charitable companls member5, a5 a body, in accordance with Chapter 3 of Part 18 of the Companies Act 2006. Our audit work has been undertaken so that we might slate to the charitable company's members those matters we are required to state to them in an auditors. report and for no other purpose. To the fvllest extent pemiitted by law, we do not accept or assume responsibilrty to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report. or for the opinions we have fomied. Michael Jones (Senior Ststutory Audrtor) for and on behalf of Bevan Buckland LLP Chartered Accountants And Statutory Auditors Ground Floor Cardigan House Castle Court Swansea Enterpnse Part( Swansea SA7 9L4 Date". 1210812025 Page 11

TAI PAWB STATEMENT OF FINANCIAL ACTMTIES {INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT} FOR THE YEAR ENDED 31 MARCH 2025 2025 Total funds 2024 Total funds Unrestricted nds Restricted fijnds Notes INCOME AND ENDOWMENTS FROM Charitable activities Membership Fees Charitable Activities 87,766 391.840 87,766 479,172 83,196 472,713 87.332 Investment income Other income 227 13,260 227 13,260 920 16,906 Total 493.093 87,332 580,425 573,735 EXPENDITURE ON Charitsble activities Charitable Activities 458,101 89,039 547,140 529,677 NET INCOMEIIEXPENDITUREI Other reeognised gainsl{lossesl Actuarial gainslllossesl on defined benefit schemes 34,992 (1,707} 33,285 44,058 18.000 18,000 (24,0001 Nel movement in funds 52.992 (1,707} 51,285 20,058 RECONCILIATION OF FUNDS Total funds brought forward 310.956 37,561 348,517 328,459 TOTAL FUNDS CARRIED FORWARD 363.948 35,854 399,802 348,517 The notes fom) part of these financial statements Page 12

TAI PAWB {REGISTERED NUMBER- 052825541 STATEMENT OF FINANCIAL POSITION 31 MARCH 2025 2025 Total funds 2024 Total funds Unrestricted nds Restricted nds Notes FIXED ASSETS Intangible assets Tangible assets 12 13 5,9 4,748 5,906 4,748 7,931 4,481 10,654 10,654 12,412 CURRENT ASSETS Debtors Cash at bank 14 96,203 313,834 96,203 349,688 93,506 333,628 35,854 410.037 35.854 445,891 427,134 CREDITORS Amounts falling due within one year 15 (25.743) {25,7431 126,0291 NET CURRENT ASSETS 384,294 35,854 420,148 401,105 TOTAL ASSETS LESS CURRENT LIABIL￿lEs 394.948 35,854 430,802 413,517 PENSION LIABILITY 18 {31.OIKJI {31,0001 165,0001 NET ASSETS 363.948 35,854 399,802 348,517 FUNDS Unrestricted funds Restricted funds 17 363,948 35,854 310,956 37,561 TOTAL FUNDS 399,802 348,517 The financial statements were approved by the Board of Trustees and authorised for issue on "Aug"5,' 2025"""" """"'"' and were signed on its behalf by.. Ms S Prescott- Trustee Mrs N T Jones- Trustee The notes fom) part of these financial statements Page 13

TAI PAWB STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Cash flows from operating activities Cash generated from operations 18,503 34,294 Net cash provided by operats'ng 8Ctivities 18,503 34,294 Cash flows from investing activities Purchase of intangible fixed assets Purchase of tangible fixed assets Interest re￿iVed 18,1001 {2,670) 227 920 Net cash used in investing activities {2,443} 17,180) Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period 16,060 27,114 333,628 306,514 Cash and cash equivalents at the end of the reporting period 349,688 333,628 The notes foTh part of these financial statements Page 14

TAI PAWB NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2025 2024 Net income for the reporting period (as per the Ststement of Financial Activities} Adjustments for: Depreciation charges Interest received Ilncreaselldecrease in debtors Decrease in creditors Differen￿ beljveen pension charge and cash contribLrtions 33,285 44,058 4,428 1227) {2,6971 1286} 116,000) 1,615 {9201 5,593 11,0521 115,000) Nel cash provided by operdtions 18,503 34,294 ANALYSIS OF CHANGES IN NET FUNDS At 1.4.24 Cash flow At 31.3.25 Net cash Cash at bank and in hand 333,628 16,060 349,688 333,628 16,060 349,688 Total 333,628 16,060 349,688 The notes foTh part of these financial statements Page 15

TAI PAWB NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 MARCH 2025 STATUTORY INFORMATION Tai pa￿ is a charitable company, limited by guarantee, registered in England and Wales. The charity's registered number and registered Offi￿ address can be found on the Reference and Administrative Details page. The presentation currency of the finanaal ststements is the Pound Steding {£). ACCOUNTING POLICIES Basis of preparing the financial statements and going toncem The financial statements of the chantsble company, which is a public benefft entity under FRS 102, have been prepared in accordance wth the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordan<￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20191,, Financial Reporting Standard 102 The Finanaal Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 20[￿. The finanryal statements have been prepared under the historical cost convention. The trustees consider that there are no material Un￿rtaInlieS about the charity's ability to o)ntinue as a going concern. Income recognition All income is recognised in the Statement of Finanaal Ath'vities On￿ the charity has entrtlement lo the funds, any performance conditions attached to the itemlsl of income have been met, it is probable that the income wll be received and the amount can be measured reliably. Income from govemmenl and other grants, ￿ether 'caprtal' grants or 'revenue' grants, is recognised when the charity has enliilement to the fvnds, any perfornian￿ condilions attached to the grants have been mel, it is probable that the income will be re￿IVed and the amount can be measured reliably and is not deferred. Membership income is recognised when invoices for membership fees are invol￿d to the members. For existing members this would be the 1 April, and for new members this would be the date of application. Training income is recognised when the Charity has entrtlement to it which would generally be when the training course has been performed. Donations are recognised when the Charity has been nobfied in writing of both Ihe amount and settlement date. In the event that a donation is subject lo condilions thal require a level of performance before the charity is entrtled lo the funds, the income is deferred and not recognised until either those conditions are fully mel, or the fulfilment of those conditions is wholly wthin the control of the charity and it is probable that those conditions wll be fvlfilled in the reporting period. Interest on funds held on deposit is included when re￿1vable and the amount can be measured reliably by the charity", this is nom)ally upon notification of the interest paid or payable by the bank. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable Ihat a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related lo the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of reSoUr￿s. Intsngible assets Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at C05t less any accumulated amortisation and any accumulated impaimient losses. Website costs are being amortised evenly over its estimated usefvl life of 4 years. Computer soknre is being amortised evenly over its estimated useful life of 5 years. Tangible fixed assets Depreciabon is provided at the followng annual rates in order to write off each asset over its estimated useful Computer equipment 33 /0 on cost Page 16 continued...

TAI PAWB NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES - Continued Tangible fixed assets Cost comprises the purchase pri￿ of the assel and expenditure directly attributable to the acquisition of the item. A fixed asset is derecognised upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. The gain or loss arising on the disposal of an asset is determined as the difference be￿een the sale prO￿edS and the carrying value of the asset. and is credited or charged to the income statement. Impairnient of fixed assets The charity performs impairment testing where there are any indicators of impaimient. Impaimient is calculated as the difference between the carrying value and the recoverable value of the asset. Recoverable value is the higher of net realisable value and estimated value in use at the date the impairment loss is recognised. Value in use represents the present value of expected future discounted cash flows. If incurred, impaim)ent is recognised immediately in the income statemenL Where an impaiment loss subsequently reverses, the ￿rryIng value of the asset is increased to the revised estimate of the recoverable amount, bul so that the increased carrying value does not exceed the carrying value that would have been detemiined if no impaimient loss had been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately as a credit to the income statement. Corporation tsxation The charity is exempt from corporation tax on its charitsble activities. Debtors Trade and other debtors are recognised al the settlement amount due after any Irade discount offered. Prepayments are valued at 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 temi highly liquid investments wth a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds lo a third paty and the amount due lo settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowng for any trade discounts due. Fund accounting Unrestricted funds can be used in accordan￿ vdilh the tharilable objectives at the discretion of the trustees. Designated funds are unrestricted funds eaTharked by the trustees for particular purposes falling in future time periods. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statement9. Pension costs and other post-retirement benefrts The charity has obligations to pay pension benefits lo ￿rtain employees. The pension accounting disdosure for this scheme has changed from a Present Value Approach to a Defined Benefit Approach In this financial year. This is due to sufficient infomiation now available for an employer in SHPS to account for its obligation on a Defined Benefit basis {i.e. stating assets and obligations). For defined benefit schemes the amounts charged to the Ststemenl of Financ4al Activities are the current setvi costs and gains and losses on settlements and curtailments. They are included as part of staff costs. Past service costs are recognised immediately in the Statement of Financial Acb'vities if the benefits have vested. If the benefits have not vested immediately, the costs are recognised over the period until vesting occurs. The interest cost and expected return on assets are shown as a nel amount of other finan￿ costs or credits adIa￿nt to interest. Actuarial gains and losses are recognised immediately in the Statement of Financial Activities. Page 17 continued...

TAI PAWB NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES - Continued Pension costs and other post-retirement benefrts 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 fair value and liabilities are measured on an actuarial basis using the projected unit method and discounted al a rate equivalent to the current rale of retum on a high quality corporate bond of equivalent currency and lemi to the scheme liabilities. The actuarial valuations are obtained at least triennially and are updated at eath balan￿ sheet date. The resulting defined benefit asset or liability. nel of the related deferred lax, is presented separately after other net assets on the fa￿ of the balance sheet. Operating leases Rentals paid under operating leases are charged to the SOFA on a straight line basis over the period of the lease. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY The preparation of the finanaal statements requires management to make judgments, estimates and assumptions that affect the application of poliues and reported amounts of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experien￿ and various other factors that are believed to be reasonable under the cirCumstan￿s, the results of ￿lch fom the basis of making the judgments about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results in the future may differ from these estimates. Estimates and undedying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised and in any future periods affected. Pension scheme assets are measured at fair value and liabilities are measured on an actuarial basis using the projected unil method and discounted at a rate equivalent to the current rate of return on a high quality corporate bond of equivalent currency and lemi lo the scheme liabilrties. The actuarial valuations are obtained at least triennially and are updated at each balan￿ sheet date. The resulting defined benefit asset or liability, net of the related deferred tax, is presented separately after other net assets on the face of the balan￿ sheet. Estimation Uncertainty The charity makes estimates and assumptions con￿MIng the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. Management consider their lo be no estimates and assumptions that have a significant risk of causing a material adjustmenl to the carrying amounts of assets and liabilities wlhin the next finanual year. INVESTMENT INCOME 2025 2024 Bank account interest 227 920 INCOME FROM CHARITABLE ACTMTIES 2025 2024 Activity Membership fees Membership Fees Conference and other events Charitable Activities Grants Charitable Activities Consultancy fees Charitable Activities Training Charitable Activities 87,766 12.095 386.669 13,210 67,198 83,196 13,110 395,764 63,839 566.938 555,909 Grants received, induded in the above, are as follows: 2025 2024 Welsh Government Grant 08k Foundation Comic Relief 243,999 55,338 15,397 237,548 48,582 38,422 Carried forward 314,734 324,552 Page 18 continued...

TAI PAWB NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 INCOME FROM CHARITABLE ACTMTIES - continued 2025 2024 Brought forward The Wallich 314,734 71,935 324,552 71,212 386,669 395,764 CHARITABLE ACTIVITIES COSTS Support costs (see note 71 Direct Costs Totals Charitable Activities 533.059 14,081 547,140 SUPPORT COSTS Support costs Finan Totals Charitable Activities 229 13,852 14,081 NET INCOMEIIEXPENDITUREI Net incomellexpenditurel is stated after chargingllcrediling}- 2025 2024 Auditors, remuneration Auditors, remuneration for non audit work Depreciation - owned assets E-Learning platfom amortisation Computer software amortisation 7,080 1,772 2,403 2,025 6,336 1,448 471 169 975 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees. remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024. Trustees. expenses During the year £444 was reimbursed to 3 trustees for expenses {2024: £nil reimbursed). 10. STAFF COSTS 2025 2024 Wages and s81aries Other pension costs 397,083 2,000 392,185 2,000 399,083 394,185 The average monthly number of employees during the year was as follows.. 2025 2024 Senior management team Office staff 11 No employees re￿iVed emoluments in ex￿55 of £60,0(XJ. During the year salaries of £142,95212024.. £136,709) were paid to key management. Page 19 continued...

TAI PAWB NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTMTIES Unrestricted nds Restricted funds Total funds INCOME AND ENDOWMENTS FROM Charitable activities Membership Fees Charitable Activities 83,196 363,079 83,196 472,713 109,634 Investment income Other income 920 16,906 920 16,906 Total 464,101 109,634 573,735 EXPENDITURE ON Charitsble activities Charitable Activities 433,454 96,223 529,677 NET INCOME Other reeognised gainsl{lossesl Actuarial gains]Ilossesl on defined benefit schemes 30,647 13,411 44,058 (24,0001 124,0001 Nel movement in funds 6,647 13,411 20,058 RECONCILIATION OF FUNDS Total funds brought forward 304.309 24,150 328,459 TOTAL FUNDS CARRIED FORWARD 310,956 37,561 348,517 12. INTANGIBLE FIXED ASSETS Website development costs E-Leaming platfomi Computer So￿are Totals COST Al 1 April 2024 and 31 March 2025 8,100 9,990 6,504 24,594 AMORTISATION Al 1 April 2024 Charge for year 169 2.025 9,990 6,504 16,663 2,025 Al 31 March 2025 2,194 9,990 6,504 18,688 NET BOOK VALUE Al 31 March 2025 5.906 5,906 Al 31 March 2024 7.931 7,931 Page 20 continued...

TAI PAWB NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 13. TANGIBLE FIXED ASSETS Computer equipment COST Al 1 April 2024 Additions Disposals 10,335 2,670 12,3261 Al 31 March 2025 10,679 DEPRECIATION Al 1 April 2024 Charge for year Eliminated on disposal 5,854 2,403 12,3261 Al 31 March 2025 5,931 NET BOOK VALUE Al 31 March 2025 4,748 At 31 March 2024 4,481 14. DEBTORS: AMOUNTS FALLING DUE W￿H1N ONE YEAR 2025 2024 Trade debtors other debtors Prepayments 8,458 67,999 19,746 26,428 59,510 7,568 96,203 93,506 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Trade creditors Social security and other taxes Other creditors Accruals and deferred income 150 8,822 2,465 14,306 2,410 7,932 2,377 13,310 25,743 26,029 16. LEASING AGREEMENTS Minimum lease payments under non-cancellable operating leases fall due as follows.. 2025 2024 Within one year Belween one and five years 10,212 10,952 9,570 11,100 21,164 20,670 Page 21 continued...

TAI PAWB NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 17. MOVEMENT IN FUNDS Net movement in fvnds Transfers be￿een funds At 31.3.25 At 1.4.24 Unrestricted funds General funds Designated Funds Designated Capital Assets 23.555 274,989 12,412 54,750 {42,763) 42,763 35,542 317,752 10,654 {1.758) 310.956 52.992 363,948 Restricted funds Comic Relief- Housing Justi￿ Wales Help End Homelessness {1,846) 139 35.715 35,854 37,561 {1,707) 35,854 TOTAL FUNDS 348.517 51,285 399,802 Net movement in funds, included in the above are as follows.. Incoming reSoUr￿S ReSoUr￿S expended Gains and losses Movement in funds Unrestricted funds General funds Designated Capital Assets 493.093 {456,343) {1,758) 18,000 54,750 11,7581 493.093 {458.101) 18,000 52,992 Restricted funds Comic Relief- Housing Justi￿ Wales Help End Homelessness 15,397 71,935 {17,243) {71,796) 11,8461 139 87,332 {89,039) 11,7071 TOTAL FUNDS 580,425 (547.140) 18,000 51,285 Comparatives for movement in funds Nel movement in funds Transfers be￿een funds At 31.3.24 At 1.4.23 Unrestricled funds General funds Designated Funds Designated Capital Assets 23,393 274,989 5,927 8.262 18,100} 23,555 274,989 12,412 (1,615) 8,100 304.309 6.647 310,956 Restricted funds Comic Relief- Housing Justice Wales Help End Homelessness 5,422 18.728 {3,576) 16,987 1,846 35,715 24,150 13.411 37,561 TOTAL FUNDS 328.459 20,058 348,517 Page 22 continued...

TAI PAWB NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 17. MOVEMENT IN FUNDS- continued Comparative net movement in funds, induded in the above are as follows.. Incoming reSoUr￿S Resources expended Gains and losses Movement in funds Unrestricled funds General funds Designated Capital Assets 464.101 {431,839) {1,615) {24,000} 8,262 11,6151 464.101 {433,454) {24.000) 6,647 Restricted funds Comic Relief- Housing Justi￿ Wales Help End Homelessness 38,422 71,212 (41,998) (54,225) 13,5761 16,987 109.634 (96,223) 13,411 TOTAL FUNDS 573,735 {529,677 (24,000) 20,058 A current year 12 months and prior year 12 months combined position is as follows.. Net movement in funds Transfers belween funds At 31.3.25 Al 1.4.23 Unrestricted funds General funds Designated Funds Designated Capital Assets 23.393 274,989 5.927 63,012 {50,863) 42,763 8,100 35,542 317,752 10,654 (3,373) 304,309 59.639 363,948 Restrieted funds Comic Relief- Housing Justice Wales Help End Homelessness 5,422 18.728 {5,422) 17,126 35,854 24.150 11.704 35,854 TOTAL FUNDS 328,459 71.343 399,802 A current year 12 months and prior year 12 months combined net movement in fvnds, included in the above are as follows.. Incoming reSoUr￿S Resou￿$ expended Gains and losses Movement in fvnds Unrestricted funds General funds Designated Capital Assets 957.194 {888,182) {3,373) 16,000} 63,012 13,3731 957.194 (891.555) {6,000) 59,639 Restricted funds Comic Relief- Housing Justi￿ Wales Help End Homelessness 53,819 143.147 159,241) {126,021) 15,4221 17,126 196.966 {185,262) 11,704 TOTAL FUNDS 1,154.160 11,076,817) 16,000} 71,343 Page 23 continued...

TAI PAWB NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 17. MOVEMENT IN FUNDS- Continued Designated Funds The designated funds are made up as follows-. 2025 2024 Net Running Costs Closure Costs Strategic Development Costs Pension Scheme Costs Contingency Fund 70,475 51,958 30,000 135,319 30,000 59,080 49,556 20,000 146,353 317,752 274,989 The net running costs represent over five months of the charity's expenditure, less membership fees. Closure costs represent the total expenditure Ihat would be incurred in the event of the charity ceasing to operate. The trustees have no cutrenl issues wth the going con￿rn of the charity but believe it is prudent to set aside this amount. Strategic development costs represents the ￿ndS set aside to help meet the charity's medium leTh strategic plan. Pension scheme costs represents funds set aside to help the charity meet the antiapated future losses in the pension scheme. Contingency fund is set aside to support the organisation in addressing unplanned extemal developments or securing speaalist advice where needed. 18. EMPLOYEE BENEFIT OBLIGATIONS The Pensions Trust- Social Housing Pension Scheme (SHPSI SHPS is a multi employer pension schemes which provides benefits to non- associated participating employers. The scheme is classed as a defined benefit scheme in the UK The scheme is dassified as 'lasl man standing, arrangement. Therefore eath employer is liable for olher participating employers, obligations if those employers are unable to meet their share of the scheme defiryt following wthdrawal from the stheme. Partiupating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on wthdrawal from the scheme. FRS 102 requires that an employer participating in a Defined Benefit scheme should recognise.. a liability for its obligations under the scheme net of scheme assets and the net change in that liability during the accounting penod as the cost of the Deffined Benefit scheme during the period The amounts recognised in the Ststement of Finanryal Actiwties are as follows.. Defined benefit pension plans 2025 2024 Current Servi￿ cost Net interest from net defined benefit assevliability Past Servi￿ cost 17,000 17,000 17,000 17,000 Actual return on plan assets Page 24 continued...

TAI PAWB NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 18. EMPLOYEE BENEFIT OBLIGATIONS - tontinued Changes in the present value of the defined benefit obligation are as follows.. Defined benefit pension plans 2025 2024 Opening defined benefit obligation Interest cost Expenses Actuarial Igainslllosses from scheme experience Benefits paid Remeasurements.. Actuarial Igainslllosses from changes in demographic assumptions Actuarial Igainslllosses from changes in financial assumptions 347.000 17,000 2,000 346,000 17,000 2,000 12,000 14,000} 1,000 14,0001 13,0001 165,000) 112,000) 309.000 347,000 Changes in the fair value of scheme assets are as follows: Defined benefit pension plans 2025 2024 Opening fair value of scheme assets Contributions by employer Interest income Benefits paid Return on plan assets {exduding interest income) 282,000 21,000 14,000 14,000} 290,000 20,000 14,000 14,0001 135,000} 138,0001 278,000 282,000 The amounts reeognised in other recognised gains and losses are as follow3". Defined benefit pension plans 2025 2024 Actuarial Igainslllosses from changes in demographic assumptions Actuarial Igainslllosses from changes in financial assumptions Return on plan assets {exduding interest income) 3,000 65,000 12,000 135,000} 138,0001 30,000 123,000) Page 25 continued...

TAI PAWB NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 18. EMPLOYEE BENEFIT OBLIGATIONS - tontinued The major categories of scheme assets as amounts of total scheme assels are as follows.. Defined benefit pension plans 2025 2024 Global Equrty Absolute Retum Credit Relative Value Emerging Markets Debt Risk Sharing InSUran￿-Llnked Securities Property Infrastructure Liquid Altematives Secured Income Liability Driven Investment Other 31,000 28,000 11,000 9,000 4,000 17,000 1,000 11,000 29,000 14,000 51,000 5,000 84.000 93,000 8,000 115.000 49,000 278.000 282,000 Included in Other are the following types of assets.. Distressed Opportunities, Altemalive Risk Premia, Private Debt, Opportunistic Illiquid credit, High Yield, Opportunistic Credit, Cash, Liquid Credit, Long Lease Property, Currency Hedging and Net Current Assets. None of the fair value of the assets shown include any direct investments in the employerfs own financial instruments or any property occupied by. or other assets used by. the employer. Principal actuarial assumptions at the Statement of Finanryal Position date lexpressed as weighted averages).. 2025 5.970/. 3.80°10 3.03/0 2024 4.940/, 3.80/0 3.07/0 Discount rale Salary growth RPI Inflation CPI Inflation The morality assumptions adopted at 31 March 2025 imply the following life expectancies". Life expectancy at age 65 {yearsl 20.5 23.0 21.7 24.5 Male retiring in 2025 Female retiring in 2025 Male retiring in 2045 Female retiring in 2045 The charity has been notified by the Trustee of the Scheme that il has perfomied a review of the changes made to the Scheme's benefits over the years and the result is that there is un￿rtainlY surrounding some of these changes. The Trustee has been advised to seek darification from the Court on these items. This prO￿sS is ongoing and the matter is unlikely to be resolved before the end of 2024 at the earfiest. 11 is recognised that this could potentially impact the value of Scheme liabilities, but until Court directions are re￿ived, il is not possible to calculate the impact of this issue, parb'culady on an individual employer basis, wth any accuracy at this lime. No adjustment has been made in these financial statements in respect of this potential issue. Page 26 continued...

TAI PAWB NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 19. RELATED PARTY DISCLOSURES During the year £250,181 was received from 6 organisalions where Tai Pav4b trustees are either trustees at these olher organisations or hold positions of significant Influen￿ {2024 £248,259 was re￿iVed from 6 organisationsl . These fees were for membership subscriptions, training, consultancy and fees to attend seminars. There was also grant income from the Welsh Govemment There were expenses of £270 paid to one org8nisation12024." £nill All transactions were conducted at an arms length basis. 20. SHARE CAPITAL The charitable company is limited by guarantee and as such has no share capital. In the event of the chantable company being wound up, the liability of each member is limited to £1. Page 27

TAI PAWB DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 INCOME AND ENDOWMENTS Investment income Bank account interest 227 920 Charitable activities mbership fees Conference and other events Grants Consultancy fees Training 87,766 12,095 386,669 13,210 67,198 83,196 13,110 395,764 63,839 566,938 555,909 Other income Other income 13,260 16,906 Totsl incoming resources 580,425 573,735 EXPENDITURE Charitable activities Staff costs Office rent Insurance Telephone Postage and stationery Advertising Staff travel & subsistence Conference staff attendan Publication costs IT & other equipment Legal & professional Training Office overheads Subscriptions Event expenditure Human resources support Recruitment costs QED costs Away day Amort of e-learning platfoThn Amort of computer So￿are Depn of computer equipment 397,083 6,660 1,562 2,594 899 9,509 4,973 3,625 5,210 12,726 19,113 36,598 640 3,889 14,852 4,534 2,758 138 1,268 2,025 392,185 6,192 1,228 2,802 811 6,313 3,667 1,230 4,600 19,226 19,554 35,540 3,510 12,449 3,900 545 992 169 975 471 2,403 533,059 516.359 Support costs Finance Bank charges 229 534 Support costs Pension scheme operating cost Auditors, remuneration Auditors, remuneration for non audrt work Interest on pension scheme liabilities 2,000 7,080 1,772 3,000 2,000 6,336 1,448 3,000 13,852 12,784 This page does not fomi part ofthe statutory finanaal statements Page 28

TAI PAWB DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Total resources expended 547,140 529,677 Net income 33,285 44,058 This page does not fomi part ofthe statutory finanaal statements Page 29

Bevan Buckland - Tai Pawb Accounts 2025 Final Audit Report 2025-08-06 Created.. 202&084J5 By.. Lisa Ruffell {1isa.ruffdl@bevanbu￿and.C0.ukI Status.. Signed Transaction ID.. CBJCHBCAABthGEYz7YfJ￿JkKddTH6jaAMLF1Vo_4p "Bevan Buckland - Tai Pawb Accounts 2025" History Document created by Lisa Ruffell {[e-mail]) 2025-0&05- 12..31'.57 GMT Document emailed to Sarah Prescott (spreSco￿[e-mail]) for signature 2025-0&05- 12.'34'.55 GMT Document emailed to [e-mail] for signature 2025-0&05- 12.'34'.55 GMT Email viewed by [e-mail] 2025-08-05- 12.'35.'11 GMT Email viewed by Sarah Prescott ([e-mail]) 2025-08-05- 17.'01'.59 GMT Document e-signed by Sarah Prescott ([e-mail]) Signature Date: 202&08-05- 17:02:38 GMT- Time Source: server Signer [e-mail] entered name at signing as N. Jones 2025-0&06- 06.'19'.26 GMT Document e-signed by N. Jones ([e-mail]) Signature Date: 202&08-06- 06..19:28 GMT- Time Sourc*: server Agreement completed. 2025-08-06- 06.'19'.28 GMT Adobe Acrobat Sign