2022-03-31-accounts - Gwent Association Of Voluntary Organisations

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COMPANY REGISTRATION NUMBER: 5590517 CHARITY REGISTRATION NUMBER: 1113558

Gwent Association of Voluntary Organisations Company Limited by Guarantee

Financial Statements

31 March 2022

WALTER HUNTER & CO LIMITED

Chartered accountants & statutory auditor 24 Bridge Street Newport South Wales NP20 4SF

Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Financial Statements

Year ended 31 March 2022

	Page
Trustees' annual report (incorporating the director's report)	1
Independent auditor's report to the members	18
Statement of financial activities (including income and
expenditure account)	23
Statement of financial position	24
Statement of cash flows	25
Notes to the financial statements	26
Appendix to the Financial Statements	46

Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 March 2022

The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 March 2022.

Foreword by the Chair Mr Edward Watts MBE DL

Welcome to the GAVO Annual Accounts for 2021/22. During the financial year 2021/22 Wales was slowly coming out of Covid pandemic restrictions. GAVO has seen how the sector has adapted to the 'new' way of working. I would like to take this opportunity of thanking the GAVO Board, Staff and special thanks goes to the Third sector organisations, partners and community groups for your support over this period. GAVO continues to work in partnership with Statutory Sector and Private Sector, which has again been exemplary, allowing the third sector to adapt to different and new ways of working.

The GAVO Strategic Plan 2022-2025 was launched at the last GAVO AGM. The organisation is committed to working towards GAVO's Mission Statement, Aims and Values, ensuring that the third sector is supported.

GAVO now has a base in each of its regional areas - Blaenau Gwent (Innovation Centre, Ebbw Vale), Caerphilly (Cherry Tree House, Oakdale), Monmouthshire (Sessions House, Usk) and Newport (Beechwood House, Newport).

We continue to represent the Sector on a variety of Strategic meetings and currently is part of the Gwent Public Service Board. Information gathered at the Gwent PSB is passed through to each area via GAVO Forums, GAVO local committees and local partnership meetings, this ensures that the sector is regularly informed of priorities across Gwent.

GAVO continues to be part of Third Sector Support Wales (TSSW), Wales Council for Voluntary Action (WCVA) and ensures that the four pillars (volunteering, sustainable funding, governance and engagement and influencing) are at the forefront of GAVO's working practices.

Moving into the next financial year, I know that the GAVO Board, the officers and partners will continue to support our communities.

Edward Watts MBE DL Chair

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Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2022

Reference and administrative details

Registered charity name Gwent Association of Voluntary Organisations Charity registration number 1113558 Company registration number 5590517 Principal office and registered Room 2, Beechwood House office 54 Beechwood Road Newport NP19 8AH

The trustees

Brigadier R Aitken CBE Her Majesty's Lord-Lieutenant of Gwent Mr E Watts MBE DL

Ms C Davy Mr R M Dutt Mr P S Farley Mr C L Hawker Mr D Jones OBE Mr A Lewis (Resigned 18 March 2022) Ms S Reader Mrs S Smith (Resigned 1 July 2021) Mrs J Steven Mrs C Williams Mr J Williams MBE JP

Auditor Walter Hunter & Co Limited Chartered accountants & statutory auditor 24 Bridge Street Newport South Wales NP20 4SF Bankers NatWest Bank plc High Street Newport NP20 4SE Solicitors Harding Evans Queens Chambers 2 North Street Newport NP20 1TE HR Consultants THS HR Services Ltd 160 Corporation Road Newport NP19 0WF

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Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2022

Structure, governance and management

Nature of the Governing Document and Constitution of the Charity

The Charity is a Company Limited by Guarantee; company registration number 5590517. Registered charity number 1113558.

The methods adopted for the recruitment and appointment of new trustees

Trustees are elected for three years with a third of the committee standing down each year, but eligible for re-election. The officers are elected for three years.

The policies and procedures adopted for the induction and training of trustees

Annual training is arranged for all Trustees, covering all aspects of voluntary sector regulations.

The name of the Chief Executive Officer and other senior staff members to whom day to day management of the charity was delegated during the 2020/21 year by the charity trustees

Chief Executive Officer Stephen Tiley Deputy Chief Executive Officer Alison Palmer

Full details of all members of staff can be found on GAVO's website www.gavowales.org.uk.

The organisational structure of the charity and how decisions are made

The charity is managed by a Board of Trustees elected by the membership of voluntary organisations. Financial and Policy decisions are made by the Trustees, where appropriate following recommendations by the senior staff and the sub-committees i.e. personnel and finance as and when necessary. The Board meets at least four times per annum.

The CEO has overall responsibility for the organisation. Senior Management Team meetings are held on a regular basis with the Deputy Chief Executive Officer and area managers to discuss management/organisational issues.

Membership of a wider network

GAVO is affiliated to the Wales Council for Voluntary Action (WCVA) and is an active member of Third Sector Support Wales (TSSW).

Relationships between the charity and related parties, including its subsidiaries

GAVO works closely with the Welsh Government, WCVA, Blaenau Gwent County Borough Council, Caerphilly County Borough Council, Monmouthshire County Council and Newport City Council, the Aneurin Bevan University Health Board, Gwent Police and the Office of the Police and Crime Commissioner in Gwent.

Health and Social Care working relationships are ongoing with the Aneurin Bevan University Health Board and the Social Care departments of Local Authorities.

GAVO has no subsidiary undertakings.

The major risks to which the Charity is exposed and reviews and systems to mitigate risks

GAVO's Risk Register provides a mechanism and framework for the management of risk within the organisation across the portfolio of GAVO activity and to inform decision making moving forward.

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Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2022

Structure, governance and management (continued)

Relationships with other Groups, Charities and Individuals

GAVO is a membership organisation. Membership is open to all relevant voluntary and community groups who operate in the area of benefit.

Number of member organisations as at 31 March 2022 473 (2021: 420).

Objectives and activities

A summary of the purposes of the charity as set out in its governing document

GAVO's role as a County Voluntary Council is set out in Welsh Government's Third Sector Scheme 2014 as:

Enabling other Third Sector organisations to grow and develop;
Supporting individual volunteers and collective voluntary action;
Promoting good and safe governance across the Third Sector;
Supporting Public Service design and delivery;
Providing voice and representation for the wider sector; and
Sharing good practice and innovation.

In addition to this Core Framework, GAVO has significant experience in developing and delivering projects and programmes through collaborative approaches, which are a response to identified unmet community need.

Summary of main aims, activities and achievement in relation to those purposes for the public benefit

GAVO represents the Third Sector at the Gwent Public Service Boards, representing the Third Sector for Blaenau Gwent, Caerphilly, Monmouthshire and Newport. GAVO is the lead umbrella infrastructure body for the Third Sector in Gwent.

Our Third Sector Development Team provides advice and guidance on governance structures and policies for setting up new groups and organisations and on-going project development and funding sources.

Our Volunteering Team provides support, advice & guidance to help people start volunteering. The support offered includes 1-2-1 appointments access an extensive range of volunteering opportunities through www.volunteering-wales.net. Volunteering also provides support for organisations for example, if you work with Volunteers, then GAVO are here to support you with recruitment, management and retention of Volunteers, as well as policy advice, Volunteer Management training and access to our recognition schemes.

Our Health, Social Care and Wellbeing Team play a key role in promoting people's emotional, mental and physical health and wellbeing and supporting people to influence local services.

As outlined within the impact report, GAVO also provides support to Communities via various direct projects that are for Community and Public benefit.

Contribution made by volunteers

Volunteering is a cornerstone of the support that we provide as a County Voluntary Council. Volunteering is one of the 4 pillars of Third Sector Support Wales and is a vital support to our society.

GAVO is proud of the work it carries out supporting not only the individuals that want to or Volunteer but also the Organisations that depend on and need Volunteers to improve Community life and work in conjunction with our national and local Wellbeing aims.

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Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2022

Objectives and activities (continued)

Public Benefit

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Charities aims and purposes and in planning future activities.

Achievements and performance

Summary of the main achievements of the charity, identifying the difference the charity's work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole

Introduction

During the year 2021/22, GAVO has reacted positively within a changing landscape with the main aim of ensuring we can provide that Third Sector support in the most targeted and efficient way. During the year, GAVO has implemented a restructure of the Organisation, with Teams restructuring from thematic teams to area teams, with all skill sets located in the areas of work, enabling quicker response to support requests, more targeted to regional issues. The move has been successful, and staff have been supportive of the change. The GAVO Impact report outlines a more detailed view of achievements alongside the key performance indicators worked towards. Below is an overview of some of the key pieces of work within each area.

Regional Picture

The Gwent PSB held its first meeting in September 2021, with all Regional Public Service Boards (PSB) now ceased having carried out their last meetings. There will be regional support in the form of "Local Delivery Groups" at which GAVO will continue to represent the third sector as well as at the Gwent PSB table and the focus for GAVO will now be overseeing and supporting the transitions into the Regional way of working. Even though GAVO continue to be the Lead on Age Friendly Communities in Blaenau Gwent, volunteering in Caerphilly, Active Citizenship in Monmouthshire and co-lead on Right Skills in Newport under the current Wellbeing Actions, GAVO will, as the next iteration of Wellbeing Actions come into play from April 2023, Co Lead with Gwent Police and the Office of the Police and Crime Commissioner the Cohesive Communities Action Plan. This will ensure the sector has a sound footing in the next Wellbeing Actions and plans. More importantly for the sector, GAVO SMT will start the work of producing the Gwent Third Sector Partnership Agreement for approval during 2023/24. The new Gwent Third Sector Partnership Agreement will be the Governing document for the Gwent PSB Board and their working and collaborative relationship with the sector for Gwent.

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Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2022

Achievements and performance (continued)

Blaenau Gwent

Community Development

The need for Development support has continued to grow within Blaenau Gwent, which has been challenging as many venues throughout the area remained closed at the years' outset due to COVID. The positive side to this as the year progressed, requests for Volunteers, links back in with community venues and organisations have increased indicating pandemic recovery. Within the area and through our Regional Strategic Lead Officer, GAVO is leading on the Wellbeing Plan's Age Friendly Communities Action and has supported partners during the year to communicate the vision for the action. There has been continued support by partners and the sector for GAVO to take this forward which has been a positive for the communities in Blaenau Gwent. During the year, our Officer has also been engaged in collaboration with VAMT (Voluntary Action Merthyr Tydfil), the County Voluntary Council (CVC) that covers Merthyr in providing a joint funding event for the benefit of both regions. With the Gwent PSB in mind, work will be be progressing to reintroduce the Blaenau Gwent Voluntary Sector Forum which will be directly linked to the new Gwent Governance arrangements around the Gwent PSB. It is important that the localism remains and work has been progressing during the year to ensure this will be at its most impactful for the sector.

Volunteering

Volunteers week was a big part of the GAVO calendar, with the organisation offering many opportunities for promotion and thanks for the great support given by our communities. Work continues to support Freshers Fayre's in Blaenau Gwent and this has been a real positive opportunity to re-engage with all ages of Volunteering and has been a real positive in terms of promotion of GAVO and services. During the year, we have conducted a Volunteering questionnaire and staff have disseminated the information from the volunteering questionnaire. The results have enabled the Volunteering Officers to formulate an effective strategy that can specifically target the needs of the community and has also given staff a useful way to establish new, productive relationships. During the year, an important piece of work across Gwent which has now started in Blaenau Gwent has been around Food Poverty and our Officers having been key in this work, linking with Local Community Centres and Tai Calon to provide support and advice to recruit Volunteers to help the growing issue. Our GAVO staff have also been working to develop a fully funded collaborative project between Volunteer Matters and the Local Authority around Loneliness and Isolation support and it has been agreed that funding will be granted to Volunteering Matters to continue and also expand upon the work they have been doing throughout the pandemic. There have also been positives in cross promotion between volunteering and the Blaenau Gwent Communities 4 Work (C4W) team and with Maximus which runs the probation service and which has led to good contacts and potential to support ex-offenders into volunteering.

Health and Social Care (H&SC)

During the year, our Health and Social Care Officer has been working closely with the befriending scheme in Blaenau Gwent run by Volunteering Matters (VM) which has been funded until September 2021. Relationships with providers and volunteers have continued to improve where staff have re-established connections with organisations. Our H&SC Officer has also been aiding recovery through meeting and focusing work with the Integrated Wellbeing Network Lead to map all Mental Health support services and pathways in Blaenau Gwent, a vital service as we leave the pandemic era. Links have been made with the new BG Carers Support Service and introducing them to partners. From a collaborative point of view, our Officer has also met a new staff member at Cyfannol Womens Aid who is running a Domestic Abuse Service based in Ebbw Vale. Our H&SC Officer has been working with ABUHB partners including planning how to increase uptake of cancer screening in BG in particular in relation to breast, cervical and bowel. Our staff have been heavily involved in focusing on a social media campaign to aid this important issue. They have also been linking with the area's Volunteer Officers and Transport Co-Ordinator to recruit volunteer drivers for the Transport to Health pilot scheme in Brynmawr, which has seen drivers contacted through the My Surgery App, through staff and partner networks and social media.

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Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2022

Achievements and performance (continued)

Our Health and Social Care Officer continues to work with ABUHB Public Health Team to promote and encourage uptake of the Connect 5 Mental Health Training Programme. It's been seen as an important task to ensure there are as many front-line workers across various roles and sectors trained as possible in order to raise awareness of Mental Health issues and where people can find further support.

Communities 4 Work

Communities 4 Work continues to support employment but will be faced with challenging times as GAVO has now been part of the first consultations in regards to its closure in 2023. Our C4W team has provided another year of positive delivery and outcomes with 469 engagements with 229 participants successfully being placed into employment. The Employability team have delivered a number of academies during the year, ranging from Care, Construction and Teaching. Specific training has been put together via meeting with Trusting Hands Care and Kier Construction.

The Delivery Manager continues to work with Blaenau Gwent County Borough Council, Welsh Government and Department for Work and Pensions to understand the local footprint for employability in Blaenau Gwent once European support is withdrawn.

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Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2022

Achievements and performance (continued)

Caerphilly

Community Development

For Third Sector development, group enquiries for funding, auditing and legal advice have continued to increase as more restrictions are lifted and the community have been proactive in looking to resume activities. It's been highly positive to see funding being agreed for specific centres across the borough to expand, which shows confidence in recovery and will be vital for communities, our help in supporting these have been vital. As with all Development staff, the Voluntary Sector Emergency Fund has been launched with impressive returns. Our development staff have been working with the Gwent PSB Engagement sub-group with the view of ensuring a position for the sector in these supporting structures and feedback to sector opportunities. Preliminary results for the Gwent Wellbeing Assessment have highlighted some potential areas for focussed engagement work and sign posting, particularly around facilities and activities for young people and those over fifty. As such, our Officer has engaged with third sector organisations providing facilities and activities for these groups, such as community centres and religious venues. During the year, the Winter Pressures Fund has been fully allocated and 15 groups were awarded funding. During the year, GAVO has continued to run the Caerphilly Voluntary Sector Forum and Voluntary Sector Representatives and play a key role in Voluntary Sector Liaison meetings which have had good representation and importantly, Public Service Board (PSB) influence.

Volunteering

Volunteering continues to be prominent in Caerphilly many new opportunities surfacing and volunteers receiving many recognition award certificates for hours completed during the year. Staff have been supporting Cash4U funded projects which ensure a great opportunity for collaboration with Youth related projects across the area. Social media is still a key source in Caerphilly with staff raising awareness of Volunteering via email/Facebook for associated providers, provided updates and new engagement opportunities, funding, training, and 4 weekly registration updates. GAVO Youth Volunteering in Caerphilly is improving with staff supporting the £20,000 Caerphilly County Borough Council/GAVO Youth focused grant, advertised to existing organisations in a position to pilot wellbeing activities for young people. During the year our officer has made links with the probation service as they are looking at utilising us to place some ex-offenders in Volunteering opportunities and GAVO have been providing support and access to Volunteering Wales support. The joint working post with Caerphilly County Borough Council, the Buddy Scheme Volunteer Co-Ordinator has been working to provide Volunteering opportunities on Volunteering Wales easy and accessible to Caerphilly County Borough staff. This has helped improve links with the Local Authority and its Corporate Social responsibility opportunities. GAVO staff have been instrumental in a Volunteer led Tree Planting project with 5,000 shrubs being planted, situated at Ynys Hywel Farm to convert grass land to woodland. The First Minister attended in March and was seen as a great success for the area. Staff have been involved in the Chatty Cafe Rhymney, carrying out focused activities and volunteering events to increase recruitment and engagement.

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Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2022

Achievements and performance (continued)

Health and Social Care (H&SC)

H&SC have continued to support organisations and have been active in working with partners across the region. Our Officer has been working closely with the Integrated Wellbeing Networks (IWN) as well as looking at opportunities within the region for example the work with Royal Park in Rhymney. The work around the park has been a real collaborative effort by all partners with a view to come together to plan and hold a community event in Rhymney Park, working in partnership to improve the Park for the benefit of the community. Our Health and Social Care Officer has been involved in the return of the Wellbeing Friends Coffee Morning, which restarted early in the year and has been positive in providing COVID guidance updates, discussions around the booster vaccination programme and discussions on the wellbeing friends going forward. In partnership with the IWN and others, our staff member has been integral in supporting the planning of the Risca wellbeing week with the idea to showcase what already happens on a weekly basis in Risca, and also host a number of taster sessions to engage with local people and families. Collaboration within GAVO has been evident with our Officer and GAVO's Gwent Transport Co-Ordinator meeting Neighbourhood Care Network (NCN) Leads to discuss support for patients accessing medical appointments with the NCN's taking this seriously and committing NCN finances towards a transport scheme, particularly around the COVID booster. Our Officer has also been involved in the initial meeting for Creative Prescribing which was held at the end of the year. Following the success of last year's Nature Prescribing pilot, IWN and representatives from CCBC's Arts Development chaired this meeting to bring together third sector, arts and creative groups to gauge interest.

Little Voices/Tiny Talkers

The Little Voices project continues to provide support in respect of speech and language to families and children across Caerphilly. The Little Voices project was successful in receiving funding through underspend in Families First and from this they have been able to purchase resources to support the key messages of Early Language support at home and to provide booklets to support the delivery of the online Let's Talk to Your Baby course, which commenced in quarter 2 of 2021/22. For our Little Voices / Tiny Talkers Project, the first Let's Talk with Your Baby (pilot) group was completed at the end of August and in September the Early Language Officers met with the parents and babies to gather constructive feedback. Babble Bags have been provided to families with a view of supporting continued language development at home. The project Facebook page continues to grow and has now reached over 700 followers with staff creating new posts and videos to support speech and language for pre-school children. In relation to the Voices Programmes, they began the online delivery of two new Let's Talk with Your Family courses during the year with more families with babies and spreading the early language key messages across the borough. Staff continue to support individual families with bespoke support for early language and are working in partnership with other Early Years services in Health and the Local Authority.

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Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2022

Achievements and performance (continued)

Monmouthshire

Community Development

GAVO continues to work with our PSB partners in the structure of the Programme Board and PSB, with a view of continuing our progression with the Active Citizenship Action area. GAVO's Development Manager has been working with the partnership developing the Caldicot Hub, a community positive in bringing people together. Relationships with partners in Chepstow and local groups also continue to grow with enquiries increasing with GAVO recording increasing diversity of enquiries. Funding work has also been intense in respect of ICF and VSRF in Monmouthshire, with funding applications being readied for panel. GAVO staff have been leading on the Community Support Networks which are encouraging new people to engage locally, and dovetails perfectly into regional development work. During the year, our Development Officers have been key in administering and supporting both the WCVA Strategic Projects Fund (approximately £42k) and Community Renewal Fund (approximately £82k) to deliver Community Hubs in in Monmouthshire. GAVO has been heavily involved with the new Community hubs in Monmouthshire and is making many new local linkages to aid this.

Volunteering

Our new officers are continuing to develop their knowledge of volunteering and have been gathering resources to ensure that they are able to support volunteers and organisations to the continued high standards within Monmouthshire. Support continues within Monmouthshire to provide positive volunteering opportunities through Volunteering Wales. Due to demand, our staff in Monmouthshire have developed a greater use of GAVO's Volunteering Facebook page for the area. Engagement has increased by 2500%, page likes by 175% and people reached 2704% increase. The key successes have been #TipTuesday and #Opportunity of the week, which following on from piloting in Monmouthshire have now been implemented as working practice across the other regions. Our Officers have been heavily involved in the Community Support Networks working closely with Monmouthshire County Council in connecting with community members. Officers have also been linking with other partners, notably Aneurin University Health Board on the Diverse Communities Health Forum, working together with other organisations to create an event that is going to encourage people from all communities to attend and receive health checks and important health messages. Work has progressed and been positive with our involvement in working with Community Champions across Monmouthshire. These community champions are Volunteers who are trained to give guidance to the people of Monmouthshire on what's happening in their community, also on occasions also having the knowledge to divert to specialist services. Our Officers have worked closely with the rest of the Monmouthshire Team to tackle digital inclusion, with staff attending meetings and learning about the process of setting up a digital inclusion network aimed at finding out the needs of the community and putting in place support. The Community Support Networks hosted by Officers in Caldicot and Chepstow have been a success and have given staff a real insight into the priorities of the community. Staff have also been key in setting up and supporting events, one being with Girlguiding Gwent with the event aimed at giving visitors an idea of the role that volunteers do, and to hopefully encourage some people to sign up to become a volunteer with the organisation.

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Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2022

Achievements and performance (continued)

Health and Social Care (H&SC)

Our H&SC Officer has also been working with partners on COVID recovery plans and been assisting with designing a monitoring process for feedback to Regional Partnership Board Transformation fund, which will allow for improved involvement of the sector. The collaboration with Neighbourhood Care Networks (NCN's) and MCC to pilot Community Wellbeing Link workers has commenced with the 6 months pilot funded from Transition monies via MCC. GAVO is hosting the 2 posts who have been building relationships with GP practices and meeting people who may benefit from support in the community or voluntary sector. These Officers have been involved with groups looking at tackling poverty, inequality and digital inclusion and assisting in developing awareness campaigns for wellbeing and mental health support and cascading information out to a wide network with recruitment underway. The new Community Link workers are an excellent addition to the Team and will add to GAVOs role in Abergavenny and the south of the County. Our H&SC Officer has been building relationships with the Psychological Wellbeing Practitioners who are based in GP surgeries and linking with the Primary Care analyst and the MCC Wellbeing team to avoid duplication and to work together to evidence impacts. Our GAVO staff member has also inputted into an Active Citizenship and Volunteering strategy for Monmouthshire and represented GAVO on partnership groups concerned with ageing well, poverty and inequality.

Monmouthshire Carers Project

Our Monmouthshire Carers Officer has been focused on Carers events which have gradually resumed following COVID. During the year, carers have been offered a free £10 voucher to be spent at various outlets within Monmouthshire and Ex-carers have also been recognised especially during this difficult time and have been given a free £60 voucher in appreciation of their caring role. The Carers Officer engaged with over 1,000 carers to promote a Christmas Luncheon in November and December 2021, which was well received and well attended. Working in partnership, our Officer has also been involved in intergenerational events which were be organised for young and adult carers and hosted in Gilwern Outdoor Pursuits Centre, which was a great collaboration opportunity. Partnership working with MCC area leads continues to grow, working with partners on the hub initiative and the food poverty programme in the Chepstow area. During the year, our long-standing Monmouthshire Carers staff member retired, a new Carers Officer has been appointed with full details of their work and contacts available on the GAVO Website.

Together Works Hub

Partnership working with Monmouthshire County Councils (MCC) has been key in working on a hub initiative and with the food poverty programme in the Chepstow area. The new TogetherWORKS hub in Caldicot is open, providing even more scope for new initiatives and projects in the area. For our Development Staff, work is underway to support the TogetherWORKS Hub alongside two members of staff who have been appointed, a consultant to oversee the paperwork and reporting on the project and a hub coordinator to to help drive forward new initiatives and deliver project impacts.

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Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2022

Achievements and performance (continued)

Newport

Community Development

GAVO is the joint lead on the Right Skills action area and through progressive discussion, the action area has split into pieces of focused work streams with GAVO leading on identifying lead community groups with a view to surveying opinion on and promoting Adult Community Learning to employees and wider. Engagement has been a focus of the Regional Strategic Lead Officer, with COVID response being a main focus. Our Development Officer has been actively engaging with the communities they will be supporting, collaborating with partners, and starting to support groups with funding and governance advice, with positive feedback. Our new Officer is also looking into ideas of how to incorporate asset mapping and asset-based development with strength-based approaches for Groups in the new/renewed Newport Networks and during the year, the Newport Network Forum has restarted with many new and older participants. Our Officer has been engaging with community partners in Pill, attending Wednesday walks with partner organisations. These walks have helped make connections including Pill Mill Centre, NCC staff and Gwent Police. Community visits to Ringland and Maindee have helped engage with a wide variety of groups, board directors, individuals, and partner organisations during the quarter. All these opportunities have started to help build bridges between different organisations which has seen so many positive impacts for Newport.

Volunteering

Our Newport Volunteering Officers have had many links with the Youth Council, focusing on the Youth Led Grants and have had real positive engagement with Newport City Council (NCC) who are keen to assist with the preparation of processes for next funding cycle 21/22. A key focus has been integration with existing groups, and this has progressed well over the year with many new and old links in place. Our Officers have been active at a Newport based Freshers events which both provided great engagement opportunities with around many young people aged 14-25 years, registering their details with us for follow up information, support, and guidance. Our Volunteering Officer has secured a partnership with University of Wales Civic Engagement Scheme, designed to encourage students to engage and volunteer in the communities in which they are studying. This pilot project allows GAVO to promote appropriate volunteering opportunities on the USW Careers Connect platform with the potential of placing more Newport students as a result of the scheme. Staff have been collaborating with other CVC's through a meeting, organised by Swansea CVS, to share best practice around their City of Sanctuary projects (CoS). These opportunities have been carefully selected to ensure they are accessible to students in terms of location and flexibility of the role around their studying. GAVO staff have been invited to return to speak to another Occupational Therapy Recovery Through Activity user group about access to and the benefits of Volunteering.

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Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2022

Achievements and performance (continued)

Health and Social Care (H&SC)

Our Health and Social Care Officer has continued to support the progress of FoodCycle UK initiative for Newport, engaging GAVO's Volunteering Officer to support FoodCycle with recruiting Volunteers for the Community Food Project. Our Regional Strategic Lead Officer has been involved in key discussions with Newport County Council (NCC) regarding Food Poverty initiatives. Partnership working with ABUHB is also progressing around developing services e.g. bereavement support, mental health, wound care (establishing Lindsay Leg Club for Newport). Staff have also initiated discussions on developing third sector support to GP practices and third sector support for patients who are currently waiting for treatment, discussing a funded role to actively manage referrals to third sector support while people are waiting due to the COVID backlog. Our Officer has put forward proposals to the NCN's to develop 2 posts to support the Multi-Disciplinary Team and Virtual Ward model to assist with effectively engaging the relevant third sector services to support patients on discharge from hospital. These posts will be a key element of the model for delivery moving forward and will also help to map gaps and provide support for commissioning services based on need and unmet need. A key issue in Newport is around digital exclusion and our Officer has been actively contributing to the Newport Digital Inclusion steering group collaborating on informing the digital inclusion strategy with specific focus on including people with disabilities, sensory impairment and those with cognitive impairment.

Newport Parenting Project

Our Newport Participation Officer has been busy linking to the work of the Bettws Early Learning Centre and has become a lead on the Community Action and Inclusion group, planning Community Engagement Activities in Bettws. The group has also worked alongside the Green and Safe Spaces to Play work-stream, Building Blocks meetings and with Save the Children to update them along with GAVO Management as to where the project is and have discussed the Innovation Funding that could support this project. During the year, our Officer began new Circle of Security (CoS) Groups with Barnardos and this has continued throughout the year. Our Officer has also focused providing these opportunities specifically targeting men during the year after monitoring data and analytics on the audience participating in these early in the year. Our Officer has also attended a reflective practice session and agreed to try to encourage more COS facilitators to attend. Our Officer attended an Early Years Development and Childcare Partnership meeting and spoke to the meeting about issues around mental health emerging after the last lockdown period and the drive to change the access for Adult Mental Health resources especially where there are children living in the household.

Food Poverty Project

During the year, GAVO appointed a Food Poverty Officer, funded by Newport City Council. The Officer has met with a number of groups offering food to clients and many community growing projects. Among these were a number of BAME groups and organisations who were able to advise on the additional barriers that exist to ethnic minorities when it comes to accessing emergency food support services.

- 13 -

Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2022

Achievements and performance (continued)

Pan-Gwent Projects

Education Programme for Patients (EPP)

The EPP has continued to provide online training opportunities across the Borough, with in person training commencing towards the end of the financial year. The EPP team has met the new Health Minister Eluned Morgan at the Velodrome Newport in June which showcased the work GAVO had done with the new Long COVID course. The GAVO team were congratulated by the Health Minister on the success of the EPP programme and the versatility of the NHS working with third partner agencies, even being mentioned later when interviewed by the BBC. During the year, EPP created a new and exciting EPP Film, with the film being centred around courses offered and referral pathways across Gwent. Over the lockdown, EPP in GAVO recorded 80+ courses, the most online courses available across Wales. EPP have had the opportunity to present to new psychological wellbeing practitioners in for October as there are new staff coming into post each month and they differ in work from the Primary mental health team referrals. Our Officer carried out a presentation to the practitioners in the surgeries on the successes of EPP. During the quarter, the project has had some positive praise from Primary mental health teams which really evidences the impacts of the project. Staff have carried out a combined presentation to ABUHB as part of the end of year review and following this, staff received overwhelming support from ABUHB staff on our accomplishments during the pandemic. Due to the accomplishments of the team, GAVO has been funded for extra days going forward to support the local General Practitioners with courses. Courses will continue throughout the year 2022/23, with details of these courses available on the GAVO website.

Transport to Health Programme (T2H)

During the year, GAVO implemented the Programme with funding from ABUHB. The early months were focused on gaining an understanding of the current situation regarding Community Transport (CT) across the areas and building a picture of the whole ABUHB footprint. Our Officer was active in contacting local AMs and MPs to discuss issues with transport to health raised by their constituents which was negative in terms of CT but positive in terms of interaction. Our Officer created a Directory of Transport Services which has been circulated to all hospital wards and health centres in ABUHB and to all existing Community Transport schemes. Circa £70k in grants have been distributed throughout the year, with our Officer now working with these projects on their monitoring and evaluation in order to report back to ABUHB. Funding for this post is to continue within Bridges with GAVO links to be maintained.

For more information on the work of GAVO, please see our Impact Report for 2021/22 and visit the GAVO website.

- 14 -

Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2022

Achievements and performance (continued)

Achievements against set objectives

			GAVO
		Annual	potential
	Total	target	performance
Number of interactions with organisations to support
with direct advice	2,367	477	1,760
Number of organisations with funding bids supported
by GAVO	119	159	89
Number of organisations with funding awarded by
GAVO	124	95	98
Individuals supported with volunteering	1,432	317	978
Individuals placed into volunteering	387	159	348
Funding awarded by GAVO	£288,305	£1,587,240	–
Organisations with funding supported by GVAO	£1,790,965	£793,620	–

Financial review

The Charity has a Finance Sub Committee, which meets monthly to review expenditure, income and to look at major items of expenditure or changes in funding. The Finance Sub Committee reports to the full Executive Committee which is responsible for making all policy decisions on financial matters.

GAVO will be working towards a new strategic plan covering 2022-2025 and GAVO finances moving forward will be a fundamental part of this document. Finance has been received for COVID recovery and for GAVO sustainability and utilisation of these Unrestricted Reserves will be targeted, focused and directed to support this recovery.

GAVO's sustainability is linked to this funding and will be utilised in line with the reserves policy in place.

Transactions and Financial position

The financial statements are set out on pages 23 to 45. These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.

The Statement of Financial Activities shown on page 23 to the accounts discloses net incoming resources for the year, before unrealised gains on revaluation of fixed assets, of £74,139 (2021: net incoming £635,731).

The total reserves at the year end stand at £1,101,907 (2021: £927,768).

- 15 -

Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2022

Financial review (continued)

Reserves Policy

GAVO's policy is to maintain unrestricted reserves totalling at least 3 month's unrestricted expenditure. Reserves above this threshold would be used for long-term investment. An overall agreed level of reserves should be in the region of £650k which covers all known / perceived business risks on a rolling annual basis via the agreed quarterly reporting format.

As noted in the policy, the assessment of reserve levels is split as follows: -

Core Activities as £350k & Project Activities as £300k

Pension Deficit Recovery Fund

The charity has adopted best accounting practice to recognise the net present value of its agreed additional contributions to the Trustee to eliminate the deficit on the multi-employer pension scheme. Full details are disclosed in notes 20 and 21 to the accounts.

Specific changes in fixed assets

All movements in fixed assets are shown in note 17 to the accounts.

The freehold property owned by the charity, and formerly used as its head office, had been revalued on 31 March 2020. The valuation was undertaken by C Jones MRICS of Savills (UK) Limited, Chartered Surveyors. On an existing use basis the fair value of the property was £350,000. The property was sold on 18 July 2022 for £450,000 less costs. The Board have taken the decision not to revalue the property as at 31 March 2022 but recognise the gain, when realised, in 2022/23.

Plans for future periods

In line with the organisation's Strategic Aims, GAVO will be maximising opportunities to deliver, influence and facilitate third sector engagement with the Welsh Government, Programme for Government, 'Taking Wales Forward 2021-26' and the TSSW Business Plan for 2022-27. Also, through its governance structures, GAVO will monitor its expenditure and develop income generation approaches which will have a synergy with GAVO's Mission and Strategic Aims.

- 16 -

Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2022

Trustees' responsibilities statement

The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period.

In preparing these financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the applicable Charities SORP;
make judgments and accounting estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

Each of the persons who is a trustee at the date of approval of this report confirms that:

so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware; and
they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information.

The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies Act 2006.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The trustees' annual report was approved on 16 November 2022 and signed on behalf of the board of trustees by:

Mr E Watts MBE DL Mr D Jones OBE Trustee Trustee

- 17 -

Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Independent Auditor's Report to the Members of Gwent Association of Voluntary Organisations

Year ended 31 March 2022

Opinion

We have audited the financial statements of Gwent Association of Voluntary Organisations (the 'charity') for the year ended 31 March 2022 which comprise the statement of financial activities (including income and expenditure account), statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the charity's affairs as at 31 March 2022 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

- 18 -

Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Independent Auditor's Report to the Members of Gwent Association of Voluntary Organisations (continued)

Year ended 31 March 2022

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

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

the information given in the trustees' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the trustees' report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of trustees' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the directors' report and from the requirement to prepare a strategic report.

- 19 -

Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Independent Auditor's Report to the Members of Gwent Association of Voluntary Organisations (continued)

Year ended 31 March 2022

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement, the trustees (who are also the directors 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 control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

By enquiring with senior management and those charged with governance all areaS of risk identified were considered and any potential litigation or claim, if any, were noted.

Ensuring by enquiry that there were no issues of non-compliance with laws and regulations relating to tax and compliance;
By obtaining an understanding of the company's policies and procedures on compliance with laws and regulations, and with best accounting practice;
Noting issues discussed with the Board and the Senior Management Team as this relates to risks faced by the company;
Reviewing disclosures in the financial statements and testing to supporting documentation to assess compliance with applicable laws and regulations;
Auditing the risk of management override of controls including testing journal entries and other adjustments for appropriateness and evaluating the business rationale of significant transactions outside the normal course of business and
Considering the effect on risk to the company of the Covid-19 pandemic and the UK's departure from the EU. In particular to note whether any such issues would affect the company's ability to continue to operate.

Through these procedures, we did not become aware of actual or suspected non-compliance.

- 20 -

Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Independent Auditor's Report to the Members of Gwent Association of Voluntary Organisations (continued)

Year ended 31 March 2022

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit 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 the internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees.
Conclude on the appropriateness of the trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the charity to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

- 21 -

Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Independent Auditor's Report to the Members of Gwent Association of Voluntary Organisations (continued)

Year ended 31 March 2022

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our report

This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed.

Jonathan Rhodes BSc BFP FCA (Senior Statutory Auditor)

For and on behalf of Walter Hunter & Co Limited Chartered accountants & statutory auditor 24 Bridge Street Newport South Wales NP20 4SF

16 November 2022

- 22 -

Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year ended 31 March 2022

			2022			2021
				Pension
				deficit
		Unrestricted	Restricted	recovery
		funds	funds	funds	Total funds	Total funds
	Note	£	£	£	£	£
Income and endowments
Donations and legacies	5	–	–	–	–	5,056
Charitable activities	6	991,559	2,691,852	–	3,683,411	3,845,363
Other trading activities	7	2,775	–	–	2,775	12,035
Investment income	8	137	–	–	137	284
Other income	9	–	–	–	–	800
		`─────────`	`────────────`	`────`	`────────────`	`────────────`
Total income		994,471	2,691,852	–	3,686,323	3,863,538
		`═════════`	`════════════`	`════`	`════════════`	`════════════`
Expenditure
Expenditure on
charitable activities	10,11	972,285	2,691,852	(51,953)	3,612,184	3,227,807
		`─────────`	`────────────`	`────────`	`────────────`	`────────────`
Total expenditure		972,285	2,691,852	(51,953)	3,612,184	3,227,807
		`═════════`	`════════════`	`════════`	`════════════`	`════════════`
		`─────────`	`────────────`	`────────`	`────────────`	`────────────`
Net income and net
movement in funds		22,186	–	51,953	74,139	635,731
		`═════════`	`════════════`	`════════`	`════════════`	`════════════`
Reconciliation of funds
Total funds brought forward		996,517	–	(68,749)	927,768	292,037
		`────────────`	`────────────`	`────────`	`────────────`	`────────────`
Total funds carried forward		1,018,703 `════════════`	– `════════════`	(16,796) `════════`	1,001,907 `════════════`	927,768 `════════════`

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities. Funding for Communities for Work will end in the Summer of 2023 when European support is withdrawn. The charity continues to work with outside agencies to establish how this funding will be replaced.

The notes on pages 26 to 45 form part of these financial statements.

- 23 -

Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Statement of Financial Position

31 March 2022

31 March 2022
		2022		2021
	Note	£	£	£
Fixed assets
Tangible fixed assets	17		350,000	350,000
Current assets
Debtors	18	327,130		330,894
Cash at bank and in hand		1,314,084		1,186,960
		`────────────`		`────────────`
		1,641,214		1,517,854
Creditors: amounts falling due within one year	19	972,511		871,337
		`────────────`		`────────────`
Net current assets			668,703	646,517
			`────────────`	`─────────`
Total assets less current liabilities			1,018,703	996,517
Provisions
Pensions and similar obligations	20		16,796	68,749
			`────────────`	`─────────`
Net assets			1,001,907	927,768
			`════════════`	`═════════`
Funds of the charity
Pension deficit recovery funds			(16,796)	(68,749)
Unrestricted funds			1,018,703	996,517
			`────────────`	`─────────`
Total charity funds	22		1,001,907 `════════════`	927,768 `═════════`

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

These financial statements were approved by the board of trustees and authorised for issue on 16 November 2022, and are signed on behalf of the board by:

Mr E Watts MBE DL Trustee

Mr D Jones OBE Trustee

The notes on pages 26 to 45 form part of these financial statements.

- 24 -

Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Statement of Cash Flows

Year ended 31 March 2022

Year ended 31 March 2022
		2022	2021
	Note	£	£
Cash generated from operations	24	126,987	912,282
Interest received		137	284
		`─────────`	`─────────`
Net cash from operating activities		127,124	912,566
		`═════════`	`═════════`
Cash flows from investing activities
Proceeds from sale of tangible assets		–	800
		`─────────`	`─────────`
Net cash (used in)/from investing activities		–	800
		`═════════`	`═════════`
Net increase in cash and cash equivalents		127,124	913,366
Cash and cash equivalents at beginning of year		1,186,960	273,594
		`────────────`	`────────────`
Cash and cash equivalents at end of year		1,314,084 `════════════`	1,186,960 `════════════`

The notes on pages 26 to 45 form part of these financial statements.

- 25 -

Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 March 2022

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Room 2, Beechwood House, 54 Beechwood Road, Newport, NP19 8AH.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Unrestricted pension deficit recovery fund relates to the net present value of the liabilities payable, at present, as a result of the multi-employer pension deficit in which the charity participates.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

- 26 -

Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2022

3. Accounting policies (continued)

Fund accounting (continued)

There is no formal policy of transfer between funds or on the allocation of funds to designated funds other than described above.

Incoming resources

All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

- 27 -

Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2022

3. Accounting policies (continued)

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

A decrease in the carrying amount of an asset as a result of revaluation is shown within other recognised gains and losses on the statement of financial activities.

Items of less than £1,000 are not capitalised by the charity.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold property	-	4% per annum Straight line
Motor vehicles	-	25% per annum Straight line

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in income or expenditure unless the provision was originally recognised as part of the cost of an asset.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

- 28 -

Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2022

3. Accounting policies (continued)

Financial instruments (continued)

Debt instruments are subsequently measured at amortised cost.

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Pension schemes

The employees of the charity are members of one of two pension schemes as follows:

NOW Pensions Defined Contribution Scheme

This is a defined contribution plan. Contributions are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

Pensions Trust Multi-Employer Defined Benefit Scheme

The charity participates in the Pension Trust scheme which is a multi-employer scheme providing benefits to some 950 non-associated participating employers. The scheme is a defined benefit scheme in the UK. It is not possible for the charity to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore it accounts for the scheme as a defined contribution scheme.

- 29 -

Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2022

4. Limited by guarantee

The charity is incorporated under the Companies Act 2006 and is limited by guarantee, certain members, who are also directors of the charity, having to contribute such amounts not exceeding £1 as may be required in the event of the company being wound up whilst they are still a member or within one year thereafter.

Number of member organisations as at 31 March 2022 is 473 (2021: 420).

5. Donations and legacies

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2022
	£	£	£
Donations
Public & Community Council donations	–	–	–
Dial-a-Ride donations	–	–	–
	`────`	`────`	`────`
	–	–	–
	`════`	`════`	`════`
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2021
	£	£	£
Donations
Public & Community Council donations	407	4,569	4,976
Dial-a-Ride donations	–	80	80
	`────`	`───────`	`───────`
	407	4,649	5,056
	`════`	`═══════`	`═══════`

6. Charitable activities

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2022
	£	£	£
Welsh Government	–	1,617,181	1,617,181
WCVA	633,531	277,799	911,330
Local Authority Councils	75,131	231,678	306,809
Local Health Boards	–	545,550	545,550
Comic Relief	–	12,369	12,369
Other grants	–	7,275	7,275
Administration fees	282,897	–	282,897
Exceptional income from charitable activities	–	–	–
	`─────────`	`────────────`	`────────────`
	991,559	2,691,852	3,683,411
	`═════════`	`════════════`	`════════════`

- 30 -

Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2022

6. Charitable activities (continued)

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2021
	£	£	£
Welsh Government	–	1,476,551	1,476,551
WCVA	498,684	49,155	547,839
Local Authority Councils	74,347	290,748	365,095
Local Health Boards	–	449,852	449,852
Comic Relief	–	8,306	8,306
Other grants	(1,885)	39,026	37,141
Administration fees	240,512	–	240,512
Exceptional income from charitable activities	613,703	106,364	720,067
	`────────────`	`────────────`	`────────────`
	1,425,361	2,420,002	3,845,363
	`════════════`	`════════════`	`════════════`

In the prior year, exceptional income from charitable activities relates to Covid19 grants provided by WCVA and Comic Relief to enable the charity to support the third sector following the Covid19 pandemic.

7. Other trading activities

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2022
	£	£	£
Rental income	2,775	–	2,775
Other sundry income	–	–	–
	`───────`	`────`	`───────`
	2,775	–	2,775
	`═══════`	`════`	`═══════`
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2021
	£	£	£
Rental income	7,087	–	7,087
Other sundry income	588	4,360	4,948
	`───────`	`───────`	`────────`
	7,675	4,360	12,035
	`═══════`	`═══════`	`════════`

8. Investment income

	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2022	Funds	2021
	£	£	£	£
Bank interest receivable	137	137	284	284
	`════`	`════`	`════`	`════`

- 31 -

Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2022

9. Other income

		Restricted	Total Funds	Restricted	Total Funds
		Funds	2022	Funds	2021
		£	£	£	£
	Gains on disposal of tangible fixed
	assets	–	–	800	800
		`════`	`════`	`════`	`════`
10.	Expenditure on charitable activities	by fund type
				Pension
				Deficit
		Unrestricted	Restricted	Recovery	Total Funds
		Funds	Funds	Funds	2022
		£	£	£	£
	Core activities	629,877	–	–	629,877
	Regional Covid19 Support	91,203	–	–	91,203
	Communities For Work	–	1,326,108	–	1,326,108
	Children & Families	–	142,879	–	142,879
	Care Projects	–	275,612	–	275,612
	Transport	–	106,238	–	106,238
	Grants to Voluntary Organisations	–	473,913	–	473,913
	Support costs	251,205	367,102	(51,953)	566,354
		`─────────`	`────────────`	`────────`	`────────────`
		972,285	2,691,852	(51,953)	3,612,184
		`═════════`	`════════════`	`════════`	`════════════`
				Pension
				Deficit
		Unrestricted	Restricted	Recovery	Total Funds
		Funds	Funds	Funds	2021
		£	£	£	£
	Core activities	575,768	–	–	575,768
	Regional Covid19 Support	35,583	–	–	35,583
	Communities For Work	–	1,148,764	–	1,148,764
	Children & Families	–	174,838	–	174,838
	Care Projects	–	233,772	–	233,772
	Transport	–	1,862	–	1,862
	Grants to Voluntary Organisations	–	493,482	–	493,482
	Support costs	199,354	377,093	(12,709)	563,738
		`─────────`	`────────────`	`────────`	`────────────`
		810,705 `═════════`	2,429,811 `════════════`	(12,709) `════════`	3,227,807 `════════════`

- 32 -

Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2022

11. Expenditure on charitable activities by activity type

	Activities
	undertaken	Grant funding		Total funds	Total fund
	directly	of activities	Support costs	2022	2021
	£	£	£	£	£
Core activities	625,377	4,500	235,625	865,502	758,804
Pension Deficit
Recovery	–	–	(51,953)	(51,953)	(12,709)
Regional Covid19
Support	90,703	500	10,080	101,283	42,301
Communities For Work	1,326,108	–	288,990	1,615,098	1,420,674
Children & Families	121,134	21,745	15,761	158,640	204,099
Care Projects	275,612	–	50,467	326,079	286,909
Transport	34,143	72,095	4,706	110,944	7,251
Grants to Voluntary
Organisations	–	473,913	2,678	476,591	510,878
Governance costs	–	–	10,000	10,000	9,600
	`────────────`	`─────────`	`─────────`	`────────────`	`────────────`
	2,473,077	572,753	566,354	3,612,184	3,227,807
	`════════════`	`═════════`	`═════════`	`════════════`	`════════════`

- 33 -

Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2022

12. Analysis of support costs

									Grants to	Pension
									Voluntary	Deficit
	Core	Community		Communities		Children &	Care		Organisation	Recovery
	activities	Development			For Work	Families	Projects	Transport	s	Fund	Total 2022	Total 2021
	£	£			£	£	£	£	£	£	£	£
Staff costs	10,925		–		–	831	1,477	–	–	–	13,233	–
Premises	67,996		–		48,730	400	2,811	–	–	–	119,937	79,734
Communications
and IT	26,566		446		22,772	1,476	5,571	79	–	–	56,910	61,088
General office	55,506	2,875			38,505	1,054	9,079	29	–	–	107,048	122,324
Finance costs	5,647		–		–	–	–	–	–	–	5,647	4,253
Governance costs	40,526		–		4,500	–	–	–	–	(51,953)	(6,927)	32,695
Insurance	5,080		–		4,500	–	–	–	–	–	9,580	10,369
Subscriptions	531		–		–	–	–	–	–	–	531	1,304
Training	4,716		125		11,822	1,943	3,685	50	–	–	22,341	16,433
Management
charges	28,132	6,634			158,161	10,057	27,844	4,548	2,678	–	238,054	235,538
	`─────────`				`─────────`	`────────`	`────────`	`───────`	`───────`	`────────`	`─────────`	`─────────`
	245,625	10,080			288,990	15,761	50,467	4,706	2,678	(51,953)	566,354	563,738
	`═════════`	`════════`			`═════════`	`════════`	`════════`	`═══════`	`═══════`	`════════`	`═════════`	`═════════`

- 34 -

Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2022

13. Analysis of grants

		2022	2021
		£	£
	Grants to institutions
	Caerphilly Health, Social Care & Wellbeing Grants	37,310	5,900
	Caerphilly Care Grants	–	9,178
	GWIRVOL Youth Led Grants	10,600	22,320
	Health & Social Care Facilitators Grants	–	5,000
	Lightsource Grants	–	13,593
	Comic Relief Community Fund Grants	12,369	8,306
	Comic Relief Covid 19 Grants	–	106,364
	Integrated Care Fund Small Grants	140,573	226,965
	Voluntary Services Emergency Fund Grants	79,742	100,856
	Winter Pressures Grants	147,369	–
	Risk Assessment Grants	38,160	–
	Community Transport Grants	72,095	–
	Caerphilly Youth Support Grants	20,000	–
	Other Small Grants	14,535	–
		`─────────`	`─────────`
		572,753	498,482
		`─────────`	`─────────`
	Total grants	572,753	498,482
		`═════════`	`═════════`
14.	Net income
	Net income is stated after charging/(crediting):
		2022	2021
		£	£
	Gains on disposal of tangible fixed assets	–	(800)
	Fees payable for the audit of the financial statements	10,000 `════════`	9,600 `═══════`

15. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as	The total staff costs and employee benefits for the reporting period are analysed as	follows:
	2022	2021
	£	£
Wages and salaries	1,939,576	1,693,258
Social security costs	178,949	162,254
Employer contributions to pension plans	104,404	98,433
	`────────────`	`────────────`
	2,222,929	1,953,945
	`════════════`	`════════════`

The average head count of employees during the year was 80 (2021: 75).	The average	number
of full-time equivalent employees during the year is analysed as follows:
	2022	2021
	No.	No.
Number of administrative staff	8	8
Number of staff employed on charitable activities	62	56
	`────`	`────`
	70	64
	`════`	`════`

- 35 -

Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2022

15. Staff costs (continued)

No employee received employee benefits of more than £60,000 during the year (2021: Nil).

16. Trustee remuneration and expenses

During the year remuneration totalling £4,140 (2021: £11,556) was paid to one trustee, Mrs S Smith, who acted as interim finance officer. The Board agreed the temporary appointment and the remuneration paid. The trustee resigned from the Board on 1 July 2021 and was subsequently appointed to the permanent post of finance officer.

No expenses were reimbursed to trustees or any persons connected with them during the year ended 31 March 2022 (2021: £45, paid to one trustee).

Funds belonging to the charity have been used for the purchase of insurance to protect the charity from loss arising from neglect or defaults of its trustees, employees or agents, or to indemnify its trustees, employees or agents, against the consequences of any neglect or default on their part. The indemnity insurance is included as part of the overall charity insurance premium and therefore is an unidentifiable cost.

17. Tangible fixed assets

	Land and	Motor
	buildings	vehicles	Total
	£	£	£
Cost or valuation
At 1 April 2021 and 31 March 2022	464,000	25,240	489,240
	`═════════`	`════════`	`═════════`
Depreciation
At 1 April 2021 and 31 March 2022	114,000	25,240	139,240
	`═════════`	`════════`	`═════════`
Carrying amount
At 31 March 2022	350,000	–	350,000
	`═════════`	`════════`	`═════════`
At 31 March 2021	350,000	–	350,000
	`═════════`	`════════`	`═════════`

Tangible fixed assets held at valuation

- 36 -

Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2022

17. Tangible fixed assets (continued)

In respect of tangible fixed assets held at valuation, the aggregate cost, depreciation and comparable carrying amount that would have been recognised if the assets had been carried under the historical cost model are as follows:

under the historical cost model are as follows:
		Freehold
		property
		£
At 31 March 2022
Aggregate cost		1,180,961
Aggregate depreciation		(661,322)
		`────────────`
Carrying value		519,639
		`════════════`
At 31 March 2021
Aggregate cost		1,180,961
Aggregate depreciation		(661,322)
		`────────────`
Carrying value		519,639
		`════════════`
Debtors
	2022	2021
	£	£
Trade debtors	321,697	317,492
Prepayments and accrued income	5,433	10,313
Other debtors	–	3,089
	`─────────`	`─────────`
	327,130	330,894
	`═════════`	`═════════`
Creditors: amounts falling due within one year
	2022	2021
	£	£
Trade creditors	41,342	54,403
Accruals and deferred income	69,468	38,627
Social security and other taxes	51,888	41,664
Grants received in advance	809,813	736,643
	`─────────`	`─────────`
	972,511	871,337
	`═════════`	`═════════`

18. Debtors

19. Creditors: amounts falling due within one year

- 37 -

Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2022

20. Provisions

	Pensions
	and similar
	obligations
	£
At 1 April 2021	68,749
Net effect of Income and Expenditure adjustments (note 21)	(51,953)
	`────────`
At 31 March 2022	16,796
	`════════`

21. Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £104,404 (2021: £98,433).

- 38 -

Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2022

21. Pensions and other post retirement benefits (continued)

The Pensions Trust Scheme

The company participates in the scheme, a multi-employer scheme which provides benefits to some 638 non-associated participating employers. The scheme is a defined benefit scheme in the UK. It is not possible for the company to obtain sufficient information to enable it to account for the scheme as a defined benefit scheme. Therefore it accounts for the scheme as a defined contribution scheme.

The scheme is subject to the funding legislation outlined in the Pensions Act 2004 which came into force on 30 December 2005. This, together with documents issued by the Pensions Regulator and Technical Actuarial Standards issued by the Financial Reporting Council, set out the framework for funding defined benefit occupational pension schemes in the UK.

The scheme is classified as a 'last-man standing arrangement'. Therefore the company is potentially liable for other participating employers' obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employers are legally required to meet their share of the scheme deficit on an annuity purchase basis on withdrawal from the scheme.

A full actuarial valuation for the scheme was carried out at 30 September 2020. This valuation showed assets of £800.3m, liabilities of £831.9m and a deficit of £31.6m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows:

Deficit contributions

From 1 April 2022 to 31 January 2025: £3,312,000 per annum (payable monthly)

Unless a concession has been agreed with the Trustee the term to 31 January 2025 applies.

Note that the scheme's previous valuation was carried out with an effective date of 30 September 2017. This valuation showed assets of £794.9m, liabilities of £926.4m and a deficit of £131.5m. To eliminate this funding shortfall, the Trustee has asked the participating employers to pay additional contributions to the scheme as follows:

Deficit contributions

From 1 April 2019 to 30 September 2025: £11,243,000 per annum (payable monthly)

The recovery plan contributions are allocated to each participating employer in line with their estimated share of the Series 1 and Series 2 scheme liabilities.

Where the scheme is in deficit and where the company has agreed to a deficit funding arrangement the company recognises a liability for this obligation. The amount recognised is the net present value of the deficit reduction contributions payable under the agreement that relates to the deficit. The present value is calculated using the discount rate detailed in these disclosures. The unwinding of the discount rate is recognised as a finance cost.

- 39 -

Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2022

21. Pensions and other post retirement benefits (continued)

*GAVO Position*
*Present Values of Provisions*
31	March	31 March	31 March
	2022	2021	2020
	£	£	£
Present value of provision	16,796	68,749	81,458
	`════════`	`════════`	`════════`
*Reconciliation of Opening & Closing Provisions*
		2022	2021
		£	£
Provision as the start of the period		68,749	81,458
Unwinding of the discount factor (interest expense)		396	1,831
Deficit contribution paid		(17,397)	(16,891)
Remeasurements - impact of any change in assumptions		(386)	2,351
Remeasurements - amendments to the contribution schedule		(34,566)	Nil
		`─────────────`	`─────────`
Provision at end of period		16,796	68,749
		`═════════════`	`═════════`
*Income and Expenditure Impact*
		2022	2021
		£	£
Interest expense		396	1,831
Remeasurements - impact of any change in assumptions		(386)	2,351
Costs recognised in income and expenditure account		(17,397)	(16,891)
Remeasurements - amendments to the contribution schedule		(34,566)	Nil
		`────────`	`────────`
		(51,953)	(12,709)
		`════════`	`════════`
*Assumptions*
31	March	31 March	31 March
	2022	2021	2020
	£	£	£
Rate of discount	2.35	0.66	2.53
	`════════`	`════════`	`════════`

The discount rates shown above are the equivalent single discount rates which, when used to discount the future recovery plan contributions due, would give the same results as using a full AA corporate bond yield curve to discount the same recovery plan contributions.

- 40 -

Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2022

22. Analysis of charitable funds

Unrestricted funds
	At 1 April				At 31 March
	2021	Income	Expenditure	Transfers	2022
	£	£	£	£	£
General unrestricted
fund	507,590	994,471	(871,002)	108,717	739,776
Fixed Asset Fund -
GAVO Head Office	278,927	–	–	–	278,927
Designated Fund -
Covid19 Response	210,000	–	(101,283)	(108,717)	-
	`─────────`	`─────────`	`─────────`	`─────────`	`────────────`
	996,517	994,471	(972,285)	–	1,018,703
	`═════════`	`═════════`	`═════════`	`═════════`	`════════════`
	At 1 April				At 31 March
	2020	Income	Expenditure	Transfers	2021
	£	£	£	£	£
General unrestricted
fund	94,568	1,433,727	(810,705)	(210,000)	507,590
Fixed Asset Fund -
GAVO Head Office	278,927	–	–	–	278,927
Designated Fund -
Covid19 Response	–	–	–	210,000	210,000
	`─────────`	`────────────`	`─────────`	`─────────`	`─────────`
	373,495 `═════════`	1,433,727 `════════════`	(810,705) `═════════`	– `═════════`	996,517 `═════════`

- 41 -

Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2022

22. Analysis of charitable funds (continued)

Restricted funds

Restricted funds
	At 1 April				At 31 March
	2021	Income	Expenditure	Transfers	2022
	£	£	£	£	£
Communities for Work	–	1,619,599	(1,619,599)	–	–
Children & Families	–	158,640	(158,640)	–	–
Care Projects	–	326,079	(326,079)	–	–
Transport	–	110,944	(110,944)	–	–
Grants to Voluntary
Organisations	–	476,590	(476,590)	–	–
	`────`	`────────────`	`────────────`	`────`	`────────`
	–	2,691,852	(2,691,852)	–	–
	`════`	`════════════`	`════════════`	`════`	`════════`
	At 1 April				At 31 March
	2020	Income	Expenditure	Transfers	2021
	£	£	£	£	£
Communities for Work	–	1,420,674	(1,420,674)	–	–
Children & Families	–	204,099	(204,099)	–	–
Care Projects	–	286,909	(286,909)	–	–
Transport	–	7,251	(7,251)	–	–
Grants to Voluntary
Organisations	–	510,878	(510,878)	–	–
	`────`	`────────────`	`────────────`	`────`	`────`
	– `════`	2,429,811 `════════════`	(2,429,811) `════════════`	– `════`	– `════`

- 42 -

Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2022

22. Analysis of charitable funds (continued)

Communities 4 Work

GAVO is the Lead Delivery Body for Communities 4 Work and Communities 4 Work + in Blaenau Gwent. The programme is designed to remove barriers and aid the furthest from the labour market back to work and is one of the top performing programmes in Wales.

Children and Families

The Families First team in Newport now take the lead on the GAVO Children and Families Forum. The Parent Participation Officer supports parent groups across Newport. In Caerphilly, children and families are supported through the Little Voices and Tiny Talkers projects, aimed at helping the development of speech and language throughout the borough and ensuring effective links with Flying Start and Families First.

Health, Social Care & Wellbeing Projects

GAVO employs Health and Social Care Facilitators funded by the Aneurin Bevan University Health Board to support the third sector to play an active role in the planning and delivery of health and social care services. The Education Programme for Patients Cymru, funded by Health, provides a range of award winning self-management health and well-being courses and workshops for people living with a health conditions or for those who care for someone with a health condition. The Monmouthshire Carers Project provides information and support to more than 1,000 carers.

Transport

The Dial a Ride Service in Blaenau Gwent helps with isolation issues by transporting hundreds of residents within the area to various luncheon clubs and community centres in order to partake in various group activities. The service is run through our Development Manager, with transport carried out by Volunteers.

Grants to Voluntary Organisations

Service Level Agreement with Aneurin Bevan University Health Board for the distribution of Health and Social Care grants to the Third Sector primarily in the Caerphilly area. GAVO also provides grants to support new initiatives to Third Sector Organisations from the Intermediate Care Fund across each of the GAVO regions. GAVO has also received the Voluntary Sector Emergency Fund grants via Welsh Government through WCVA and Comic Relief with a purpose of supporting groups through the Covid pandemic.

A detailed analysis of the individual projects that are included within the above activities of the charity are shown in the Appendix to the accounts.

- 43 -

Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2022

22. Analysis of charitable funds (continued)

	Pension deficit recovery	funds
		At 1	April				At 31 March
			2021	Income	Expenditure	Transfers	2022
			£	£	£	£	£
	Pension Deficit
	Recovery Fund	(68,749)		–	51,953	–	(16,796)
		`════════`		`════`	`════════`	`════`	`════════`
		At 1	April				At 31 March
			2020	Income	Expenditure	Transfers	2021
			£	£	£	£	£
	Pension Deficit
	Recovery Fund	(81,458)		–	12,709	–	(68,749)
		`════════`		`════`	`════════`	`════`	`════════`
23.	Analysis of net assets between		funds
				Unrestricted	Restricted	Endowment	Total Funds
				Funds	Funds	Funds	2022
				£	£	£	£
	Tangible fixed assets			350,000	–	–	350,000
	Current assets			831,401	809,813	–	1,641,214
	Creditors less than 1 year			(162,698)	(809,813)	–	(972,511)
	Provisions			–	–	(16,796)	(16,796)
				`────────────`	`─────────`	`────────`	`────────────`
	Net assets			1,018,703	–	(16,796)	1,001,907
				`════════════`	`═════════`	`════════`	`════════════`
				Unrestricted	Restricted	Endowment	Total Funds
				Funds	Funds	Funds	2021
				£	£	£	£
	Tangible fixed assets			350,000	–	–	350,000
	Current assets			781,211	736,643	–	1,517,854
	Creditors less than 1 year			(134,694)	(736,643)	–	(871,337)
	Provisions			–	–	(68,749)	(68,749)
				`─────────`	`─────────`	`────────`	`────────────`
	Net assets			996,517	–	(68,749)	927,768
				`═════════`	`═════════`	`════════`	`════════════`

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Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2022

24. Cash generated from operations

	2022	2021
	£	£
Net income	74,139	635,731
Adjustments for:
Other interest receivable and similar income	(137)	(284)
Gains on disposal of tangible fixed assets	–	(800)
Accrued expenses	30,841	12,635
Changes in:
Trade and other debtors	3,764	5,141
Trade and other creditors	70,333	272,568
Provisions and employee benefits	(51,953)	(12,709)
	`─────────`	`─────────`
	126,987	912,282
	`═════════`	`═════════`

25. Analysis of changes in net debt

			At
	At 1 Apr 2021	Cash flows	31 Mar 2022
	£	£	£
Cash at bank and in hand	1,186,960	127,124	1,314,084
	`════════════`	`═════════`	`════════════`
Operating lease commitments
The total future minimum lease payments under	non-cancellable operating leases		are as follows:
		2022	2021
		£	£
Not later than 1 year		16,880	49,334
Later than 1 year and not later than 5 years		44,505	43,788
		`────────`	`────────`
		61,385	93,122
		`════════`	`════════`

26. Operating lease commitments

The total future minimum lease payments under non-cancellable operating leases are as follows:

27. Limitation of auditors’ liability

By way of a board resolution the company has agreed to enter into a limited liability agreement with its auditors whereby their exposure to legal claims is limited to £50,000 per claim.

28. Related parties

No transactions with related parties were undertaken such as are required to be disclosed under FRS102 other than those already disclosed in note 16 to the accounts.

- 45 -

Gwent Association of Voluntary Organisations

Company Limited by Guarantee

Appendix to the Financial Statements

Year ended 31 March 2022

COMMUNITIES 4 WORK PLUS (EMPLOYABILITY) COMMUNITIES 4 WORK P1 COMMUNITIES 4 WORK P3 COMMUNITY ANIMATOR PROJECT COMMUNITIES ADDITIONAL COMMUNITIES 4 WORK FAMILIES FIRST NEWPORT LITTLE VOICES SUSTAINABLE FOOD PROGRAMME CAERPHILLY YOUTH SUPPORT GRANT CHILDREN & FAMILIES MENTAL HEALTH SUPPORT PROJECT HEALTH & SOCIAL CARE FACILITATORS EXPERT PATIENT PROGRAMME CARERS MONMOUTH WELLBEING LINK OFFICERS PILOT CALDICOT HUB PROJECT CARE PROJECTS COMMUNITY TRANSPORT PROJECT TRANSPORT PROJECTS CAERPHILLY HSC & WELLBEING WINTER PRESSURES GRANT RISK ASSESSMENTS COMIC RELIEF GWIRVOL YOUTH LED GRANT - PAN GWENT ICF SOLAR ENERGY STATIC GRANTS DARRAN VALLEY GRANTS VOLUNTEERING WALES STRATEGIC GRANT VOLUNTARY SECTOR EMERGENCY FUND GRANTS TO VOLUNTARY ORGANISATIONS	Balance at 1 April 2021 Incoming resources Outgoing resources Balance at 31 March 2022 £ £ £ £ - 862,600 (862,600) - - 371,229 (371,229) - - 205,063 (205,063) - - 2,419 (2,419) - - 178,288 (178,288) -
	- 1,619,599 (1,619,599) -
	- 25,740 (25,740) - - 109,288 (109,288) - - 3,612 (3,612) - - 20,000 (20,000) -
	- 158,640 (158,640) -
	- 34,589 (34,589) - - 154,904 (154,904) - - 76,942 (76,942) - - 27,601 (27,601) - - 26,764 (26,764) - - 5,279 (5,279) -
	- 326,079 (326,079) -
	- 110,944 (110,944) -
	- 110,944 (110,944) -
	- 37,310 (37,310) - - 147,376 (147,376) - - 38,160 (38,160) - - 12,369 (12,369) - - 10,600 (10,600) - - 140,573 (140,573) - - 1,489 (1,489) - - 3,900 (3,900) - - 3,150 (3,150) - - 81,663 (81,663) -
	- 476,590 (476,590) -

	- 2,691,852 2,691,852 - -

- 46 -