2023-03-31-accounts

Trustees Annual Report

2022/23

REPORT OF THE TRUSTEES:

The Trustees have examined the major strategic, business and operational risks to which Cartref may be exposed. Through the office of Cartref, adequate systems are in place to manage potential risks as the Trustees have identified. The Trustees continue to be vigilant and keep all processes under review including investment strategy and monitoring financial performance.

In the year under review, the Trustees responsibly sought advice from professionals including Asbri Planning Consultants, Dolmans Solicitors, Hugh James Solicitors, Grant Thornton Accountants, Savills and Refreshing Law Limited. Professional reports were provided following instruction from Trustees. The Trustees continued to meet regularly with the Chief Executive Officer, in order to discuss operational matters, the impact of Covid-19 and regulatory changes and decisions. Trustees met with staff in March 2023 as necessary.

Trustees carefully considered the current investments were suitable for Cartref and met its investment objectives. Further consideration will be given to investments moving forward upon which expert professional advice will be sought. Trustees continued to review the current investments at appropriate intervals.

Related Party Transactions:

No Trustees were paid during 2022/2023 and there were no related party transactions.

Activities:

Following pandemic restrictions, Co-ordinators and Trustees recognised the need to plan and provide a diverse range of activities for all residents. Trustees shared ideas with activities staff which led to Wynne James and Fenella Bowden collaborating in order to provide a schedule of activities focused on maintaining the mental and physical health and wellbeing of residents.

Local community connections were maintained with volunteers visiting both homes to read to residents and engage in activities such as indoor and outdoor craft, raffles and quiz sessions. All monies raised went to the Residents Social Fund.

Residents enjoyed a variety of trips to theatres, shopping excursions and other destinations such as Watermill at Ogmore, Weston-super-Mare, Cowbridge and the

RHS exhibition/show. Roath Park continued to provide a wonderful place for residents to spend time, meeting locals whilst enjoying the rose gardens and wildlife.

Residents engaged with many local people who stopped to chat and find out more about the residents themselves and Cartref. Ministers from Christchurch, Lakeside, visited in addition to visits from Reverend Cathy Gale who visited on the first Wednesday of each month.

Short stories and singing sessions were popular as a result of Susan from Rhydypenau Library engaging so well. Cathedral School Year 9 soloists performed at Lake Road East with the Forget-me-Not choir performing during the latter part of the year. For those preferring quiet time, one-to-one sessions were arranged ensuring nobody felt isolated in any way whatsoever.

Residents were naturally upset to learn of the passing of Her Majesty Queen Elizabeth II and out of respect the state funeral service was screened for those who wished to view.

The Remembrance Day display at Lake Road East was particularly poignant featuring the War Horse, soldiers and delicate poppies. Residents, staff and the general public found this display respectful and subtle. Residents and Trustees reminisced of loved ones who had selflessly served their country.

The festive season was full of joy with choirs visiting and plenty of activities building up to Christmas Day. Spring and Easter planning was a priority for residents who expressed a desire to plan plenty of outdoor activities during the warmer months.

Management:

All staff at both homes should be commended as they helped ensure steps were taken to afford residents the best possible quality of life. Catering staff provided well balanced, nutritious and wholesome meals aligned with choice. Housekeeping and laundry staff ensured the homes were clean, orderly and tidy with residents clothing laundered to an immaculate standard. Care and support staff continued to assist residents in a most appropriate and respectful manner.

The maintenance team worked hard to resolve day to day issues arising within both homes. As in previous years, the upkeep of both homes remained substantial.

Outside seating areas and gardens were well maintained affording fragrant, peaceful areas for residents and their visitors to enjoy.

Carpets were replaced within both homes with a choice of neutral colour so those with disability and/or cognitive impairment could see their environment as clearly as reasonably possible. Previous busy patterns were deemed an obstacle due to many residents finding it difficult to determine a change in floor levels. New televisions were positioned with the use of Amazon Alexa to encourage resident participation. Large clocks were placed throughout the homes which residents found easy to view.

REPORT OF THE TRUSTEES (CONTINUED) STATEMENT OF TRUSTEES RESPONSIBILITIES:

Law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the period and of its financial position at the end of the period. In preparing financial statements giving a true and fair view, the Trustees should follow best practice and:

• Select suitable accounting policies and then apply them consistently

• Observe the methods and principles in the Charities SORP

• Make judgements and estimates that are reasonable and prudent

● State whether applicable UK Accounting Standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements

● Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation The Trustees are responsible for keeping proper accounting records that 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 Charities Act 2011.

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. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

The Trustees’ Report has been approved by the Trustees on 14[th] August 2023 and signed on their behalf by:

……………………………………………………………………. TRUSTEE and

CHAIRMAN Joel Williams

.

Charity number: 1113855 Company number: 05626413 Cartref Limited (A company limited by %￿raDte¢) Trustees, report and financial slalements for the year eDded 31 March 2023

Cartref Limited (A compally Jimited by guarantee) Contents Page Legal and administrative inforn)ation Trustees, report AuditOTS' rewt to the trustees Statement of financial activities io Balance sheet Notes to the financial statements 12- 20

CArtref Limited (A ¢ompany limiied by gyarattlee) Legal and administralive ioforniatioD Charity number 1113855 Trading Darne CaTtref Care Homes BusiDe&% address 88.90 Lake RO￿ E&st Cardiff CF23 5NP 85-91 Staiion Road CardTff CF14 5UU Regi$lered o(fiee 88-90 Lake Road East Cardiff CF23 5NP President Sir Nornlan Lloyd Edwards KCYO, GCSLT. RD GOMLJ, JP, RNR. Trustees Mr J Williams (Chair of the BoaTd) Mr P D Bc￿1b1¢r {Vice Chair of the Board) Mr P Hudson {TreasuTer) MTS E Green MrSWLJames Mrs J A Collinge Mrs J Rogcts Mrs E Reid-Jones Mrs F Bowden CEO Ms A Ravenscn)ft Managemenl commlttees l. The Board The Truslees CEO 2. ManageTs CEO Mrs D Jones {Home Manager) Ms R Rogers (H¢)me Mamager) Mr G Hill (Hospitality Manager) Mr S Ellis (Building5 Manager) Mis5 R Bartlett (Financeloffice Manager) The Treasurer MTS J A Rogers Mrs E R¢id-Jones Auditors Naunton Jone5 Le Masuricr 12 York Place Barry CF62 7ED Bttk¢rs Barclays Bank plc 42 Wellfield Road Cardiff CF24 3YR Solicitors Dolmans SolicitOTS Capital Tower Greyfriars Road Cardiff CFIO 3AG

Cartref Limited (A company limited by guarantet) Charity No. 1113855 CompaDy Iyo. 05626413 Report of the trustees {incorporating ibe Directorn, rew)rt) for ¢he year ended 31 March 2023 Th¢ truste¢s present their report and the financial statcments for the year ended 31 March 2023. The trustees. who are also d1￿cloT$ of CartTef Limited for the purposes of company law and who served during the year and up to the dat¢ ofthis r¢pN)rL are set out on pa8e l. S¢ructurey goverDaDee atsd management Status ￿gOVerning docwnenl The organisation is a registered charity and company IiTnited by guarantee, incorwrated on 18 Novembcr 2005. The ¢ompany w&8 estsblished Under a Memorandwn of Ass(Kiation which established the objects and powers of the charitsble C<Mnpany and is governed by its Arti¢les of Ass(Kiatton. In the event of the company being wound up. m¢mbers are each required to contribute an amouni not exceeding £10 and any remaining assets shall ￿ given or tranSf￿r¢d to some other charity or charities having similar objects to Cartref Limited. OrgL7nisalional slruclure The policy to which the ¢harity is run is deterniined by the trustees. Their duties include taking steps to intri)duce change where necessary in order to make effective use of the charity's resources. Tn￿lee induction aThltraining The Board of TTUStees comprise5 of eight trustres and the trustees remain unremuneraied and s¢Tv¢ Cartref in a voluntary capacity. The Board welcomed the apFKJintment of Pctcr Hudson as a trustee and Treasurer and this apwintment provided a suitsble ￿ndUlt on financial matters ktween the Board and Senior Management Team. The trustets p)ssess a weahh of exFrience. knowledge and skills and these skill sets complemeni each other respectiv¢ly. Throughout the peri(Kl this r¢wJrt reiaw trustee5 met on a T¢gular b&sis to ensu￿ our responsibilities were discharged conscientiously. All new trustees and tM)ard members are given an in-depth briefing on the charity itself and th¢ r¢l¢vant inforn]ation and Tequir¢m¢nts of th¢ Charity Commission in order to ensure thai their role and r¢swnsibilAties are fully undcrsto¢xl. Risk managemenl The trustees have examined the major strategic. business and 0￿￿tIonal risks to which Cartref may be exposed. Through the office of Cartref, adequate systems in place to manage potential risks as the Trustees have identified. The tsvstees continue to be vigilant and keep all processes under review including investment 5tr81egy and monitoring fllwicial perforniance. Objectives aetiviti Followin8 pandemic restrictions cfrordinators and trustees recognised the need to plan and provide a diverse range of activities for all residents. TrU￿ceS shared ideas with a¢tsYitses sthff which led to Wynne James and Fenella Bowd¢n collakx)rating Tn ordeT to pmvide a schedule of activities focused on maintaintng the mental and physical health and wellb¢in8 of residents. L￿al community connections wcrc maintained with volunteers Vtsiting both homes to read to residents and engage in activities such &s ind￿r and outd(x)r cr21l raffles and quiz session5. All monie5 raised went to the Residents Social Fund. Residents enjoyed a variety of trips to theatrffj shopping excursions and other de5tinatioDS such as Watermill at Ogmore, Wcston-suw-mare. Cowbridge and RHS exhibitionlshow. Roath P8rk continued to provide a wonderful pl￿¢ for Tesidents to spend time. meeting loca15 whilst enjoying the ros¢ gardens and wildlife.

Cartref Limited (A ¢omplly limiled b). guar8Dlee) Charity No. 111385S Company No. 05626113 Report ofthe trustees (iDeorporatiDg the Directon. rep)rt) ror ihe year ended 31 March 2023 Residents engaged with many I(￿￿1 people who Stop￿ to chat and find out more about the residents themselves and Cartref. Min1￿CTs from Christchurch. Lakeside, visitrd in addition to visits from R¢verend Cathy Gale who visited on the first Wednethy of each M￿th. Short stories and singing sessions were popular as a result of Susan from Rhydypenau Library engaging so well. Cathedrnl School Year 9 soloists perforn)¢d al Lake Road Easl with the For8et-me-Not Choir wforniing during the latter part of the year. For those preferring quiet time. 0￿-to-One sessions were amnged ensuring nobody felt isolated in any way whatsoever. Residents were naturdlly upset to learn of the passing of Her Majesty Queen Elizabeth Il and out of respect the state funerdl service was screened for tho% who wished to view. The Remembranc¢ Day display at Lakc Road East was parti¢ularly wigt)ant featuring the War Horse. soldiet5 and d¢licate )ppies. Residenty staff and the geneTa] publi¢ found this display resp￿tfUl and subtle. Residents and trustees reminisced of loved on¢s who had selflessly served their county. The festive ￿8S0￿ was full of joy with choirs visiting and plenty of activtties building up to Christmas Day. Spring and Easter planning was a Priority for residents who expressed a desire to plan plenty of outdoor activities during warnier month5. All staff at homes should be wnmended as they helped ensure steps weTe taken to afford residents th¢ best possible quality of life. Catering stsff Provided well balanced nutritious and whol¢som¢ meals aligned with choice. Housekeeping and laundry staff ensured the homes w¢r¢ clea orderly and tidy with residents clothing laund¢r¢d io an immaculate standard. Care and suptM)rt staff ¢oniinued to &8Si5t residents in a most appropriate and resFctful manner. The maintenance team worked hard to resolve day to day i&sues aTising within E4)th homes. As in prcvious yea￿. the upkeep of Ix>th IKmes r¢maineAI substantial. Carpets were replaced within both homes with a choice of neutral colour so those with disability andlor cognitive impairment could see their environment as clearly as Teasonabty wssible. Previous busy patterns were deemed an obslacle due to many residents finding it difficult to determine a ¢hang¢ in floor lev¢ls. New televisions w¢r¢ positioned with the use of Amazon Alexa to encouTage resident participation. large c]￿kS were placed through0￿ the homes which rc5idcnts found ¢&sy to view. Publ￿ benefii The charity contracts with the Ic￿1 authority meeting the requirements ne¢essary to allow r¢sid¢nts who are entitled access to. and ￿nefIt from. social Ca￿ funding. To further avoid cxcluston to services by clients in reduced circtmistancesthe charity Tnvite5 application5 for dispensation on the fees. These dispensations are governed and allocafrd within the limitations of the charÈty'5 economic constrdints. The charity aims to ensure that 8¢cess is available to all without discrimination ijT¢SPXCtiv¢ of nationality, 8ender or personal means. Acbievements and perforniDce In the early months to which this report relate& capital projects t(Kyk place to improve both hornes and upgrdde facilities, including new carpets at the Lake and decoration works at Station Road. The trustees met with the Buildings Manager to receive an update on capital projects and und¢rt(K)k frequent discovery walks around both hom¢s.

CartrefLimited (A company limited by gugrantee) Charity No. 1113855 Company No. 05626413 Report of the trustees (iDcorporatiDg the Direeton, rewrt) for tbe ye4r ended 31 March 2023 As Cartref emerged from the pandemic. the care sector faced and continues to face signtficant and sustained challcngcs and the withdrawal of govmun¢nt fundin8. that provided a lifeline to ￿sidential homes. has compounded these challenges. In a Cardiff contexL the Council announced their'Ageing W¢ll' strdte8y, predicated on keeping potential care home residents in their owi) homes for l¢)nger, with domiciliary care and I￿U$¢hold adaptstions favoured. Although Cartref marketed itself a5 a compassionate organisation. Providing excellence iTt service and e for residents, the tn￿1¢¢$ identified a change in demaftd from the community, with dampened demand for residential and EMI care provision. The trustees met with Cardiff Council in Autumn 2022 to proactively s¢¢k to addre&5 these material risks and maintained close contact followin8 thts meeting. Th¢ trust¢¢s provided comprehensive and measuTed scrutiny of the Chief Executive and the activiti¢s of the organisation. This included consideration of monthly operatfftonal accounts and oversight of incom¢ and expenditure. The trustees identified a mismatch in the inflow of revenue and the outtlow of ¢XFtnditure and the erosion of reseryes presentcd a matcrial risk to the ¢xist¢n¢¢ of the organisation. The trustees commission¢d Grant Thornton Ac£ountants to pn)vide stKciaiist tailored advice on th¢ options available to the trustees to r¢siK)nsibly respond to the damkKned demand facing Cartref. The trustees felt timely and early advice provided suitable optiODS to best manage these circumstances. With damp¢ned demand for r¢sidential and EMI care provision the trustees explored whether Cartref could provide nursing care io the community and also considered a s￿e of the organisation by way &8 a going concun. The trustee5 identified the layoui and age of the care homes as a prohibitive factor in secking io vary the care provision. Despite F*st effort5 to cxplor¢ alteTnative options. the trustees met with staff during Mhrch 2023 to announce a stat￿Ory ￿nSUl￿tiOn on prow)sals to close both homes and cease operating as a Ca￿ homes provider. Prior to commencing this consultation suitable advice was sought and provided from employm¢ni 5￿CIaliSt￿ Rcfrcshing Law Limit¢d. Throughout this peTiO(L staff Continued to show the professionalism and Gqre which has earned Cartref its enviable reputation as one of Wales. Ftst care home providers. As trustees we are sincerely appreciative to the efforts and commitment of our staff. As Cl)aiTmaty l am most grateful to the trustees for their continucd and unwavering SUPFK)rt. In the year under review, th¢ trustees responsibly g)ught ￿VICe from prof¢ssionals including Aslyi Planning Consultants. Dolmans Solicitors. Hugh Jame5 SolicitOT& Grant Thornton Accountants, Savills and Refreshing Law Limited. Professional rep￿rtS were provided following instruction from Trustees. The trustees Continued to m¢ct regularly with the Chief Executive Olficer, in order to discuss operational matter& the impact of Covid-19 and Tegulatory changes and d¢¢isions.

Cartref Limited (A COMPADY limited by guarntttee) Charity No. 1113855 Company No. 115626413 Report of tbe trustees (illcorporating the dRrectors' report) ror ihe year ended 31 March 2023 Fingntial review Perforpnance review The financial ￿￿onnanCe of the charity is comprehensively disclosed in the attached financial ststements. Reserves￿lICY It is the w)licy of the Charity thÈt funds not committed or invested in tangibl¢ ass¢ts should k ¢quival¢nt to at least two months of resources expended. Pl(7TLsforfviure period Thc charity has a fifieen month plan which includes income fTom inveslments to be used for gfdnt making purp)s¢s in line with its consiitution. The trustees shall continue to obtain professional advice whenever neccssary and shall not make grants directly to individuals or io fund resear¢h. The trustees are exploring an annual small grants progrdmme and shall ¢ontinue to rely utrf)n professional advic¢ prior to and following grant making. The trustees have called for and awatt th¢ Margaret Dain interim estat¢ accounty IHT400 and residue inforniation fron) the ¢x¢cutors. Ststement s to disclosure of infornialion lo auditors In so far as the truste¢s aTe aware: there is no relevant audit infomialion of wbich the charitable cotnparty's auditors are UDaware" and the llustees have taken all step5 that they ought to have tskeD to make themselves aware of any relevant audit infoTmation and to estsblish that the aUdI￿rS are awa￿ of that inforn)ation. Ststemeni oftrnstees. re5POD5ibili¢ies Thc trnst¢¢s (who aTC also diffctOTS of Cartftf Limiied for the PUTrMyse of company law) are resw)nS￿bj¢ for preparing the trustees, annual report and the fmancial statements in accordance with applithle law and United Kingdom GeneTally Accepted Accounting Practice. Company law requires the tTUStees to PTepaTe financial stat¢m¢nts for each fllwicial year which give a true and fair view of the strte of affairs of the charithble ¢ompany and of the incoming resources and application of resourccs. including the income and ¢xwiditure. of the charitable company for that riod. In preparin8 these financial stsiements th¢ tn￿5 are required to: select suitable accounting wglicies and then apply them consistently" observe the methods and prRncipks in the Chariti¢s SORP. make judgements and estimates that are re&fonable and prudenL stste whether applicable UK Accounting Standards hav¢ been followed. subject to any material d¢parturcs disclosed and explained in the fllwicial statements" and prepaTe the financial stateTnents on the go&ng concern basis unless it 15 inappropriate to pr¢sume that the charitable company will ￿ntinue in o￿T￿lOn.

Cartref Limited (A COMPDY limited by guarnDtee) Charity No. 1113855 Company No. 05626413 Report of tlke trustees (incorporating ihe diTec1013' reFK)rt) for the year ended 31 March 2023 The trustees are responsible for keeping proper accounttng re¢ords wht¢h disclose with reasonable accuracy at any time the financial position of the ¢haritsble company and which enable them to ensu thai the financial statements comply with the Companies Act 2006. They are also responsible for safeguaTding th¢ assets of the charitsble company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees have complied with the duty in section 4 of the Charities Act to have due regard to guidance published by the Charity Commission. including public ￿nefit guidance. The trustees have referred to the guidance on public benefit when wnsidering the charity's aims and activities and consider that the charity is providing a service for the benefit of the public. Audi¢or5 Naunton Joncs Le Masurier are deemed to be TeapwJint¢d in accordanc£ with Section 487(2) of the Companies Act 2006. Small compathy provmions This rqK)rt has been PTepaTed in accordance with the stttial provisions applicable to companies entitled to the small companies exemption. This report w&$ approved by the Frf>ard on 6 Cktober 2023 and signed OD its behalf by Mr J Williams Chgirni%n of the Board of Trustees

Cartref Limited (A company limited by guarantee) Independent auditor's rewrt to the member5 of Cart￿rLI￿1ltd We have audited the financial statements of C8rtref Limited for the year ended 31 March 2023, which comprise the statrmeni of financial activities, the balance sheet and the related notes. The financial r¢FK)rting framework that ha5 been applied in their prepardtion is applicable law and Unitcd Kingdom Accounting Standards (United Kingdom Generally Accepted Accouniing Practice. including SORP FRS 102 -The Financial Re￿)rtIng Stsndard applicable in the UK and Ireland". This r¢px)rt is made solely to the company's members. &5 a Imxly. in 4￿rdance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the ¢haritsble company's members those matters we are required to sthie to them in an auditor's reFK)rt and for no other purpose. To the fullest extent pernitted by law. we do not accept or assume responsibility to anyone other than the charitable company and the charitable company'5 members as a body. for our audit work, for this reporL or for th¢ opinions we have forn]¢d. Opillion on the financial slatements In our opinion the financial statements.. give a true and fair view of the state of the charithble wmpany's affairs as at 31° March 2023 and of its deficit for the year then ended. have been properly prepared in accordance with United Kingd(xn Generdlly Accepted Accounting Practice" and have i￿en properly prepared in accor￿ with the wuirements of the Companies Act 2006. Bgsis for opinion We conducted our audit in a¢¢ordan¢¢ with International Stsndards on Auditing (UK) (ISAS (UK) and applicabl¢ law. Our ￿$￿nsibilItieS 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 th¢ company in accordance with the ethical requirements that aTe relevant to OUT audit of the financial statements in the UK including the FRC'S Ethical standa￿ and we have fulfilled our other ethical responsibililies in accordance with these Tequirements. We believe that the audit eviderA¢e we have obthined is sufificient and appropriate io provide a basis for our opinion. Conclusions relating to goibg concern We have nothing to rewrt in respe¢t of the following matters in relation to which the ISA5 (UK) requi us to rel￿ to you where: the trustees, of the going ¢oncern basis of xcounting in the prei)aration of the financial statements is not appropriate- or the trustees havc not disclosed in the fuwicial statements any identified material uncertainties that may cast Significant doubt about the company's ability io Continue to adopt the going concern basis of accounting for a Peri(￿ of at least ¢welve montlLS from the dats wh¢n d f￿ancial statements are authori5ed for issue. Otber informatioll The other inforniation comprises the inforniation included in the annual rewrL other thall the financial statements and our auditorf5 r¢wJrt th¢ffon. The trustees are reS￿nsible for the other inforniation. Our opinion on the financial ststements does not cover the other inforniation and. except to the extent otherwise expli¢itly stated in our reporL we do noi express any fonn of &ssurdnce conclusion thereon.

Cartref Limiied (A compny limited by guarantee) IDdependenÉ auditor's report lo ihe members of Cart￿f Limited In connection with our audit of the financial Slatemen￿ our responsibility is to read the other information an￿ in doing so, consider whether the other inforn￿tion is materially inconsistent with the financial statements or our knowledge obtained in th¢ audit or otherwise appear to be materially misstated. If we identify such material inconsisten¢i¢s or apparent misstatements. we are required to determine whether there is a material mIssta￿Ment in the fllwicial statements or a material misstatement of the other inforniation. If, b&sed on the work we have [￿rf0m]e4 we conclude that there is a maierial misstatement of this other inforniation. we are required to report that fact. We have nothing to rep)rt in this regard. OpinioDS on other matters prescribed by ihe Compamies A¢1 21 In our opinion, based on the work undertaken tn the Course of the audit: the infornlation given in the tru￿¢¢$, rew)rt for the financial year for which the financial statements are prepared is consistrnt with the fjnancial statements; and the tnLStees' rcport h&$ been prepard in accordance with applicable legal requirements. Matters on wbi¢h we are reqllired io report by exeeptioD In the light of the knowledgc and understanding of th¢ charitsble company and its environment obtained in the course of the audiL we have not identified material misstatanents in the trustees. report. We have nothing to rew)rt in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not E¢en kepi or returns adequate for our audit have not iKen r¢¢eived from branches not visited by us" or the financial statements are not in agreement with the xcounting records and th¢ returns; or certain disclosures of t￿St¢¢$' remuneration SFttified by law are not ma(k" OT we havc not r¢ceived all the iDforn]ation and explanations we require for OUT audiL or the trustees were not entitl￿ to prepare thc financial statements in ac¢ordanc¢ with the small companies regime ond rake advantage of the small companies, exemptions in preparing the trustces, rewrt and from the requirement to prepare a strategi¢ rew)rt. Responsibilities of the IrysteL8 The tTUStees are responsible for th¢ preparntion 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 preparntion of f]nancial ststements that are free fTom material misstatemenL whether due to fraud or eTror. In preparing the financial ststernen￿ the tsvstees are Teswnsible for assessing the charttsble company's ability to continue as a going concern, disclosing, as applicable, matters rclated io going concern and using the going ¢oncern basis of accounting unless the tTU5tC¢s either intend to liquidat¢ the charitsble Company or to cew operntions, or have no r¢alistic ahernativ¢ but to do so. A¥ditor'5 responsibilities for the audit of the fiDanci*l ststements Our objectives are to obtain reasonable lssurdnce about whether the financial statements as a whole a free froTn material TnisststemenL whether due to fraud or elror, and ￿ issue an auditorfs report that includes our opinion. Reasonable assurdnce is a high level of assvran¢e. but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a rnater1￿ misstatement when li exists. Missiafements can arise from frnud or error and are considered material if. individually or in the aggregate, they could ￿asonablY be exFrtt¢d to influen¢¢ the economic decisions of users taken on the basis of these financial statements.

Cartref Limited {A company limited by guaraDt¢e) IDd¢pendeknt auditor's report to the membeys of Cxrtref limited As part of an audit in accordance with ISAS (UKA we exercise professional judgement and maintain professional scepticism throughout the audiL We also: identify and assess the risks of material misststement of the fllwicial ststemcnt& whether due to fraud OT error, design and ￿forn audit prc¢edures reswnsiv¢ to those risks, and obtsin audit evidence that is sufficient and appropriatc to provide a basis for our opinion. The risk of nirt deiecting a material misstatement resulting from fraud 15 higher than for one resulting from error. as fraud may involv¢ collusion. forgery. intentional omissions. misrepresentstions, or the override of internal ¢ontrOI. obtain an understanding of intcrnal wntrol r¢l¢vaDt to th¢ audit in ord¢T to dcsign audit procedures that are appropriate in the circumstances, but not for the PUTtK)se of expressing an opinion on the effectiveness of the internal control. evaluate the appropriateness of accounting wli¢ies used and the rug)nableness of ￿coUntIng estimates and related disclosures made by" the commirtee. onelude on the appropriateness of the tru5t¢¢'s use of the going concern blsis of accounting and, b￿d on thc audit evidence Obtain￿ whethera material uncertainty exists related to events or conditions that may cast significant doubt on the Charl￿ble company's ability to continue as a going concern. If we conclude that a material uncertainty exists. we are required to draw att¢ntson in our audito¢5 rcport to the T¢lat¢d disclosures in the financial statements or, if such disclosures aTe inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the dat¢ of our auditorfs rqK)tL However, firture events or c4)nditions may caus¢ the charitable company to cea5¢ to continue as a going concern. evaluate the overall presentation. slTUCture and conteni of the financial statements, includtng the disclosures, and whether the financial statements rcpresent the undeTlying transactions and events in a manner that achieves fair presenlation. We communicate with th0￿ charged with governance re8ardiD& aniong other matters. the planned scope and timing of the audit and significant audit findings, including any significant deficien¢i¢s in internal control that we identify during our audxL Peter Vivian ￿knt Chaffey FCCA SeDior Ststutory Auditor Naunton Jones Le Masurier Chartered Certified Ac¢ouDlants ReEisiered Audilors 12 York Place Barry CF62 7ED //,.123

Cartref Limited (A ¢ompany limited by guarnDlee) Statement of financial aetivilies (incoryor8tiDg the RDcome and expEDdilure account) For the year eDded 31 March 2023 Unrestiicted funds 2023 Tolal 2022 Totsl Notes IDcomiDg r¢sources Incoming ￿ sow¢¢s from generating fi￿ds. Voluntary income Activities for generdting fillKts Investment in¢om¢ Incoming resources from charitsble activities Other incoming re50urees 357,755 1.974 6.428 1,972,744 2,733 2,752,079 192 050 Tolal incon)ing re¥oyrc&¥ Resources eI￿nded Costs of gen¢rating funds= Investment management COSLS Costs of charitsble activities Governan¢¢ costs 2.670 3.099,969 949 2,515,453 Total resources expended 33 Ne¢ income l (oulgoillg) resourw before other recognised gains and losses (702.983) 424.503 Oiber re¢ognised gains and lows Gainsl(loss¢s) on disw)sal and revaluation of investment assets io Ne¢ io¢oming l (outgoiDg) resourees (713.150) 423.041 Total fimds brought forward 2 684 099 Total funds carried forwgrd The Dota on ￿g¢S 10 to 18 form an inlegral part oftbese ststem¢nt& 10

Cartref Limited (A company lÉmited by guaTalltee) Company Dumber- 05626413 Balan¢¢ sh¢ei as at 31 Mareh 2023 21123 2023 2022 2022 Notes Fixed wets Tangible assets Investments 16 17 1,809,853 1,825.960 184 037 1.809.853 2,009,997 Current ￿ets tkbtOJ3 Cash at bank and in hand 18 184,650 278,903 693 488 914.644 972.391 Creditors: amounts T￿1]Dg due wi¢biD ODe year 19 {255 789) et ¢urren¢ &uetsl(liabilities) 193,596 716.602 Creditors: atllouttts falling due after more than one year 20 Net awts Funds Unr¢stri¢ted income funds 22 1970 949 2 684 099 Tolal funds 137Q249 2 684 099 The financial statements are prepared in a¢¢ordance with the provisions applicablc to companies subject to the small companies. regiTne and in accord￿ with FRS 102 -The Finall¢i81 ReFK)rting Standard applicable in the UK and Republic of Ireland" The finan¢iaR statements were approved by the knard on 6th October 2023 and Signed on its behalf by Mr J Williams Direetor Tbt noies on pages 10 to 18 forn n integral part of these finDci41 $tst¢ments.

Cartref Limited (A Company limi¢ed by guar2ttle¢) l¥otes to fiDaD¢ial $tstemeDts For the year eDded 31 March 2023 AecoulltiDg policies The principal accounting policie5 are SuDu￿sed below. The accounting policies have been applied consistently throughout the year and the preceding year. 1.1. Bgs&5 of gceoynting The financial statements are prepared under the historical cost convention, except for iThve51ments which are includcd at markei value, and in accordance with the Ststement of Recommended Practice.. Accounting and R¢ponin8 by Charities preparing thexr accounts in accordance with th¢ Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Companies Act 2006. The ¢haTity ¢onsiitutes a public benefit ¢ntity as defined by FRS 102. Following the closure of EK>th care bome4 the charity will become a grdnt making organisatio following professional inveslment advice. the prw¢eds of the sale of both pro￿rtieS will be invested and grants made to organisations in line with our charitable obje¢tives. We are and continue to be a going concern. The grant poli¢y wxll ￿ adopted by the tsustees in due course. however this will be in line with our ¢haritsbl¢ objectives. Examples may include grdnts to suptK)rt dementia services su¢h as dementia cafes and supwyrt for organisations who assist the elderly. la. Fund accounting The charity only holds U[￿StrICted funds. These fimds received orgeneratedthat are available for use at the dI￿retiOn of the trust¢¢s in fitheranLZ of the general objectiv¢s and purw)se of the charity. IJ. Incoming resources All incoming resourccs are included in th¢ stst¢ment of financial activities when the ¢harity is entitlcd to th¢ income at)d the amount can be qLWltified with reasonable accuracy. The following specific poli¢i¢s are applied to particular categories of income: Voluntary income is received by way of grnits. donations and gifts and is included in full in the statement of financial activiiies when receivable. Legacies are included when the charity is advised by the personal representative of an estate thkt payment will be made or property transfeTred and the amount involved can ￿ quantified. Income from investsnents is included in the year in which it is receivable. Incomang resources from fiLndraisin& sundry sourcc5 and charitable trading activity are accounted for as and when earned. 12

Cgrtref Limited (A company limiied by guarantee) Notes to financial ststements For the year eDded 31 Marcb 2023 1.4. Resource8 expended Expenditure ts r￿ognIsed on an accnjal basis as a liability is incutred. Expenditure includes any VATwhich cannotbe fully recove￿ and is rep)rted as partof the expenditure to which it ￿lat¢s. Cosls of seneratins funds comprise the costs &8S￿lated with atlra¢ting voluntary income and th¢ ¢osts of trnding for fundraisin8 purpN)s¢s including the charity's vending machine. payphone and inveslment wjrtfolio. Charitabl¢ expenditUT¢ COTnpris¢s those costs incurred by thc charity in the delivery of its activities and services for its beneficiaries. It includes knth wsts thal can be allocated directly to su¢h a¢tivities and those costs of an indirect nature necessary to support them. Governance costs include those costs associated with rneeting the constitutional and statutory requirements of the charity and include the audti fees and costs linked to the strategic management of the chartty. l.& Tangible fixed &￿ets and deprecialion Tangible fLxed assets donatrd to the charity by a c0nncCt￿ UDincorpordted charity in 2008 art stated at their estimated fair value on transfer less depreciation. Depreciation 15 provided based on the remaining estimated useful economic lives of the assets at the time the assets w¢r¢ donated. Tangible fixed assets iM)ught by the charity ar¢ stated at cost less accumulated deprecRation. tkpreciation is provided at rdtes calculated to write off the cost less residual value of each asset over its expected useful life. Land and buildings - over ex￿ useful economic life of SO years with r¢sidual valu¢ of £50.000 10- 330/• Strnight line - 2￿/0 straight line Fixtures, fitting5 and equspment Motor vehicles I.& IDvestJneDts Investments held as fixed assets are revalued at mid_market value at the balance sheet date and the gain or loss tsken to th¢ ststement of fu￿claI activities. 1.7. Llasillg Rentals payable under operdting leases are charged against tnwme on a strnight line basis over the Iwe terni. IA Defined ttsntributiott pensioD schemes The pension costs ¢harg¢d in the financial ststements represent the contribution payable by the charity durAng the year. VoluDtsry income 2023 Total 2022 Total Frazer trust Staff and memorial donations t£gacy received 1.5(Kl 6,255 1.500 474 13

Cartref Limited (A collbpany limited by gyaran¢e¢) Notes to finalleial slatemeDts For the year ended 31 March 2023 Adivitits for generxtltsg hthds 2023 Totsl 2022 Tot%1 Fundralslng events Investment iDcome 2023 Totsl 2022 Total Bank interest receivable Dividends received 1.304 446 Incoming resonr¢es from ¢haritsble aelivities 2023 Tolal 2022 Total A¢wmm(Mlation fees Other incomithg r¢sour¢¢s 2023 Totsl 2022 Total Government grdnts 192 050 IDvestmettt niaDagemeDt 2023 Tothl 2022 Total Investment management fees 14

Cartref Limited (A company limited by guarnDtee) Noies to fiD*Dcial stalemeDts For the yeydr ended 31 March 21ll3 Costs of ¢harit2ble activities Activities undertakeD direetly Support ¢osts 2023 Tolal 2022 Total Provision ofresidential CQTefor ￿￿erlY Staff costs (see note 12) Staff traiTLing Staff uniforms Catering Services to residents Household ex￿nSeS Rates Insuran¢¢ Light and heat Repairs and renewals Hire and maintenance of equipment Printing, Fx)sta8e and ststionery Computer costs Telephones and internei Advertising Motor expenses Bad debts General expenses Subscriptions Bank Int¢￿51 and char8es Loan interest Lkpr¢¢iation and amortisation 2.446.118 7,264 2,999 67,852 7.590 33.974 19.304 33.431 72.487 114.910 25.005 186,781 2,632.899 7,264 2.999 67.852 7,590 33.974 19,304 33.431 72.487 114.910 25.005 8.096 11.197 7.285 1.584 3,716 2.080.216 3,467 2,534 71,081 7,232 30,700 24.415 25.298 73.020 95.487 22,574 13.644 8,475 6.608 1,663 3.819 11.197 7.285 1.584 3.716 3.560 3.560 1.998 771 949 1.917 1,318 1.147 870 1.998 771 949 1875.112 L099.969 2O1L4&3 Support costs have been all￿4￿d and apwrtioned on the basis ofe5timated staff time (staff costs) and equipment usage {telephone and internet and dew￿latIOn). 15

Cartref Limited (A company limi¢ed by guaranlee) Notes to financial ststemellts For tb¢ ye*r ended 31 Marrh 2023 Govern4Dce Costs 2fll3 Totsl 2022 Total Auditor remuneration Legal and Professional General expenses 6.720 20.711 6.000 948 983 10. Other recogllised gaims l (lo&ses) 2023 2022 Totsl Realis¢d gains l (losses) on disposal of invesknents Unrealised gains l {losses) on revaluation of investments 11. Net {oulgoiDg)fiD¢omiog resour¢es for the year 2023 Tolal 2022 Total Nel (outgoingyincoming rcsourccs 15 Statcd aftcr charging: Depreciation and other amowits written off tsngibk fixed assets Audii¢)TS' r¢mun¢ration 43.098 39,968 16

Cartref Limited (A Company limited by guarantee) Note5 to fiD*Deial ststsThellts For the year eDded 31 March 2023 12. Employees 2023 Total 2022 Totsl Employm¢n¢ c(K8ts Wag¢s and salaries Social security costs Pension ¢osls Staff redundancy and holiday pay 1,948,377 142,212 86,171 456 139 1,869.063 120.946 90,207 No employee received emoluments of more than £fAI.￿o (2022: None). Number of employees The averdge monthly numbers of employees (including the InLStees) during the year. calculated on the basis of full time equivalents, was as follows: 2023 Number 2022 Number Direct cmployees Management and administration mainl￿ance 106 13. Trnstees. en)ol¥ments and trnDsac¢io No payments were mad¢ to th¢ tntstecs for ranunerntion or reimbursements for expenses during the year (2022 - Nil). No trustee. or other p¢rson related to the Charity, had any other personal interest in any contract or transaction entered into by the charity during the year (2022 _ Nil). 14. PeD$iOD Costs The company op¢rdtrs a der￿ed eontribution pension Sc1￿Me in respect of its ¢rnployees. The scheme and its assets are held by Inde[￿dent managers. The pension charge represents contributions due from the company and was as follows.. 2023 2022 Pension charge 90 Premiums outstanding at 31 March 2023 and included within accruals aJnounted to £9.764 (2022 - £9,359) 17

Cartref Limited (A company limited by guaraDtee) Notes to financial statements For the y￿r ended 31 March 2023 15. TaxYdtiOD The activities of the charity fall within the exemptions afforded by the provisions of the Corporntion Tox Act 2010. Accordingly. thwr is no toxation ¢harge tn these accounts. 16. Tgngible fiied ￿Sets LaDd buildiDgs Trtthokl Fixtures fitttDgs and equipment Motor Vehicks Total Cost At l April 2022 Additions DisFX)sals 2.019.321 249.422 27.929 26.129 2,294,872 27,929 (22 113) At 31 March 2023 Depreciatio At l April 2022 Charge for the year Disposals 219.089 223,694 27,386 16.650 26.129 468.912 44.036 At 31 March 2023 Net book values At 31 Ma￿h 2023 At 31 March 2022 800 17. FiIed xsset inves(meDts Li51ed iDvestrnents Totsl Valugtion At l April 2022 Additions DIs￿)saIS Revaluation5 184,037 13.988 (198.025) 184,037 13,988 (198,025) At 31 March 2023 Historical cost &s at 31 March 2023 All fix￿ as5¢t inv¢5tmcnts W¢￿ h¢ld within the United Kingdom. 18

Cartref Limited (A ¢ompaoy limiied by guarantee) Not&s to financial statements For the ye8r ended 31 Marrb 2023 18. Deblors 2023 2022 Trnde debtors Prepayments and other debtors 114.606 261,433 19. Creditors: amounts falling due within ODe year 2023 2022 Bank overdrnft Trad¢ ¢r¢ditors Other tsxes and s(Kial sccurity Accruals and deferred in¢oTne 29.804 19.808 24,709 15.918 44,065 22,534 173272 255 789 2023 2022 20. Creditor5: amounts falling due after more than one year Boun¢¢ back loan 42 21. FiDaDc1￿ commitments At 31 March 2023 the company had annud commilments under non-caDcellable opernting leases as follows: 2023 2022 Expiry date: Within one year Between two and five years Over five years 45.119 47.265 115 711 92.3¥4 11.5 19

Cartref Limited (A company limited by guranlee) l¥otes to financial statements For the year ended 31 Mareb 2023 22. Unrestrieted funds At l April 2022 Other gaill Incomittg Outgoittg (lo&ses) At 31 MaNb 2023 General unrestricted fund 216,699 2.421.877 (3.128.618) Investment fund 40,104 6,428 (2,670) {10.167) Cartref Committee donated fund 2 427 (490,042) 33.695 2 427 296 Purposes of unrestrieled funds The purtK)se of the unrestricted fimds is to enable the Charity to cany out its aim of the provision of residential care for the elderly. 23. Unrestricted funds anatysiq 2023 2022 Fund balances at 31 March as represented by: Tangible fixed assets Inv¢stm¢nt assets Bank and cash Net money due tol{from) the charity 1.809,853 1.825,960 184,037 693,488 729.994 568 898) 24. Company limited by guar4Dttt CaTtref Limited is a company limited by guarantre and accordingly does not have a share ¢apitsl. Every member of thc company undcrtakcs to ¢ontributC such amount as may be required not ¢xc¢eding £10 to the &ssets of the charitable company in the event of its being wound up while he or she is a Mern￿r. or within one year after he or she ceases to be a member. 25. GoiDg Concern Note Following professional advice the decision was taken to close the care hornes. A forty five day ¢onsultstion followed. Following the sale of FM)th prO￿rtIeS sale pr(tteds will b¢ investcd with income fTom investments to bc u%d for grant making purwjses in linc with its constitution. The TTUStees shall continue to obtain professional advice whenevernecessary and shall not make make grants dire¢ily io indiyiduals or to fund research. The trnstees aTe exploring an amiual small grants programme and shall continue to rely upon professional advice prior to and following grant making. In June 2023. the charity ¢ook out a short tern) Icn for £570.000. This was tsk¢n out for cash flow purposes to pay redundancy pMym¢nts. noti¢¢ pay and holiday pay upon Closure. The loan is to b¢ r¢paid within 12 months. 20

Charity number: 1113855 Company number: 05626413 Cartref Limited (A company limited by %￿raDte¢) Trustees, report and financial slalements for the year eDded 31 March 2023

Cartref Limited (A compally Jimited by guarantee) Contents Page Legal and administrative inforn)ation Trustees, report AuditOTS' rewt to the trustees Statement of financial activities io Balance sheet Notes to the financial statements 12- 20

CArtref Limited (A ¢ompany limiied by gyarattlee) Legal and administralive ioforniatioD Charity number 1113855 Trading Darne CaTtref Care Homes BusiDe&% address 88.90 Lake RO￿ E&st Cardiff CF23 5NP 85-91 Staiion Road CardTff CF14 5UU Regi$lered o(fiee 88-90 Lake Road East Cardiff CF23 5NP President Sir Nornlan Lloyd Edwards KCYO, GCSLT. RD GOMLJ, JP, RNR. Trustees Mr J Williams (Chair of the BoaTd) Mr P D Bc￿1b1¢r {Vice Chair of the Board) Mr P Hudson {TreasuTer) MTS E Green MrSWLJames Mrs J A Collinge Mrs J Rogcts Mrs E Reid-Jones Mrs F Bowden CEO Ms A Ravenscn)ft Managemenl commlttees l. The Board The Truslees CEO 2. ManageTs CEO Mrs D Jones {Home Manager) Ms R Rogers (H¢)me Mamager) Mr G Hill (Hospitality Manager) Mr S Ellis (Building5 Manager) Mis5 R Bartlett (Financeloffice Manager) The Treasurer MTS J A Rogers Mrs E R¢id-Jones Auditors Naunton Jone5 Le Masuricr 12 York Place Barry CF62 7ED Bttk¢rs Barclays Bank plc 42 Wellfield Road Cardiff CF24 3YR Solicitors Dolmans SolicitOTS Capital Tower Greyfriars Road Cardiff CFIO 3AG

Cartref Limited (A company limited by guarantet) Charity No. 1113855 CompaDy Iyo. 05626413 Report of the trustees {incorporating ibe Directorn, rew)rt) for ¢he year ended 31 March 2023 Th¢ truste¢s present their report and the financial statcments for the year ended 31 March 2023. The trustees. who are also d1￿cloT$ of CartTef Limited for the purposes of company law and who served during the year and up to the dat¢ ofthis r¢pN)rL are set out on pa8e l. S¢ructurey goverDaDee atsd management Status ￿gOVerning docwnenl The organisation is a registered charity and company IiTnited by guarantee, incorwrated on 18 Novembcr 2005. The ¢ompany w&8 estsblished Under a Memorandwn of Ass(Kiation which established the objects and powers of the charitsble C<Mnpany and is governed by its Arti¢les of Ass(Kiatton. In the event of the company being wound up. m¢mbers are each required to contribute an amouni not exceeding £10 and any remaining assets shall ￿ given or tranSf￿r¢d to some other charity or charities having similar objects to Cartref Limited. OrgL7nisalional slruclure The policy to which the ¢harity is run is deterniined by the trustees. Their duties include taking steps to intri)duce change where necessary in order to make effective use of the charity's resources. Tn￿lee induction aThltraining The Board of TTUStees comprise5 of eight trustres and the trustees remain unremuneraied and s¢Tv¢ Cartref in a voluntary capacity. The Board welcomed the apFKJintment of Pctcr Hudson as a trustee and Treasurer and this apwintment provided a suitsble ￿ndUlt on financial matters ktween the Board and Senior Management Team. The trustets p)ssess a weahh of exFrience. knowledge and skills and these skill sets complemeni each other respectiv¢ly. Throughout the peri(Kl this r¢wJrt reiaw trustee5 met on a T¢gular b&sis to ensu￿ our responsibilities were discharged conscientiously. All new trustees and tM)ard members are given an in-depth briefing on the charity itself and th¢ r¢l¢vant inforn]ation and Tequir¢m¢nts of th¢ Charity Commission in order to ensure thai their role and r¢swnsibilAties are fully undcrsto¢xl. Risk managemenl The trustees have examined the major strategic. business and 0￿￿tIonal risks to which Cartref may be exposed. Through the office of Cartref, adequate systems in place to manage potential risks as the Trustees have identified. The tsvstees continue to be vigilant and keep all processes under review including investment 5tr81egy and monitoring fllwicial perforniance. Objectives aetiviti Followin8 pandemic restrictions cfrordinators and trustees recognised the need to plan and provide a diverse range of activities for all residents. TrU￿ceS shared ideas with a¢tsYitses sthff which led to Wynne James and Fenella Bowd¢n collakx)rating Tn ordeT to pmvide a schedule of activities focused on maintaintng the mental and physical health and wellb¢in8 of residents. L￿al community connections wcrc maintained with volunteers Vtsiting both homes to read to residents and engage in activities such &s ind￿r and outd(x)r cr21l raffles and quiz session5. All monie5 raised went to the Residents Social Fund. Residents enjoyed a variety of trips to theatrffj shopping excursions and other de5tinatioDS such as Watermill at Ogmore, Wcston-suw-mare. Cowbridge and RHS exhibitionlshow. Roath P8rk continued to provide a wonderful pl￿¢ for Tesidents to spend time. meeting loca15 whilst enjoying the ros¢ gardens and wildlife.

Cartref Limited (A ¢omplly limiled b). guar8Dlee) Charity No. 111385S Company No. 05626113 Report ofthe trustees (iDeorporatiDg the Directon. rep)rt) ror ihe year ended 31 March 2023 Residents engaged with many I(￿￿1 people who Stop￿ to chat and find out more about the residents themselves and Cartref. Min1￿CTs from Christchurch. Lakeside, visitrd in addition to visits from R¢verend Cathy Gale who visited on the first Wednethy of each M￿th. Short stories and singing sessions were popular as a result of Susan from Rhydypenau Library engaging so well. Cathedrnl School Year 9 soloists perforn)¢d al Lake Road Easl with the For8et-me-Not Choir wforniing during the latter part of the year. For those preferring quiet time. 0￿-to-One sessions were amnged ensuring nobody felt isolated in any way whatsoever. Residents were naturdlly upset to learn of the passing of Her Majesty Queen Elizabeth Il and out of respect the state funerdl service was screened for tho% who wished to view. The Remembranc¢ Day display at Lakc Road East was parti¢ularly wigt)ant featuring the War Horse. soldiet5 and d¢licate )ppies. Residenty staff and the geneTa] publi¢ found this display resp￿tfUl and subtle. Residents and trustees reminisced of loved on¢s who had selflessly served their county. The festive ￿8S0￿ was full of joy with choirs visiting and plenty of activtties building up to Christmas Day. Spring and Easter planning was a Priority for residents who expressed a desire to plan plenty of outdoor activities during warnier month5. All staff at homes should be wnmended as they helped ensure steps weTe taken to afford residents th¢ best possible quality of life. Catering stsff Provided well balanced nutritious and whol¢som¢ meals aligned with choice. Housekeeping and laundry staff ensured the homes w¢r¢ clea orderly and tidy with residents clothing laund¢r¢d io an immaculate standard. Care and suptM)rt staff ¢oniinued to &8Si5t residents in a most appropriate and resFctful manner. The maintenance team worked hard to resolve day to day i&sues aTising within E4)th homes. As in prcvious yea￿. the upkeep of Ix>th IKmes r¢maineAI substantial. Carpets were replaced within both homes with a choice of neutral colour so those with disability andlor cognitive impairment could see their environment as clearly as Teasonabty wssible. Previous busy patterns were deemed an obslacle due to many residents finding it difficult to determine a ¢hang¢ in floor lev¢ls. New televisions w¢r¢ positioned with the use of Amazon Alexa to encouTage resident participation. large c]￿kS were placed through0￿ the homes which rc5idcnts found ¢&sy to view. Publ￿ benefii The charity contracts with the Ic￿1 authority meeting the requirements ne¢essary to allow r¢sid¢nts who are entitled access to. and ￿nefIt from. social Ca￿ funding. To further avoid cxcluston to services by clients in reduced circtmistancesthe charity Tnvite5 application5 for dispensation on the fees. These dispensations are governed and allocafrd within the limitations of the charÈty'5 economic constrdints. The charity aims to ensure that 8¢cess is available to all without discrimination ijT¢SPXCtiv¢ of nationality, 8ender or personal means. Acbievements and perforniDce In the early months to which this report relate& capital projects t(Kyk place to improve both hornes and upgrdde facilities, including new carpets at the Lake and decoration works at Station Road. The trustees met with the Buildings Manager to receive an update on capital projects and und¢rt(K)k frequent discovery walks around both hom¢s.

CartrefLimited (A company limited by gugrantee) Charity No. 1113855 Company No. 05626413 Report of the trustees (iDcorporatiDg the Direeton, rewrt) for tbe ye4r ended 31 March 2023 As Cartref emerged from the pandemic. the care sector faced and continues to face signtficant and sustained challcngcs and the withdrawal of govmun¢nt fundin8. that provided a lifeline to ￿sidential homes. has compounded these challenges. In a Cardiff contexL the Council announced their'Ageing W¢ll' strdte8y, predicated on keeping potential care home residents in their owi) homes for l¢)nger, with domiciliary care and I￿U$¢hold adaptstions favoured. Although Cartref marketed itself a5 a compassionate organisation. Providing excellence iTt service and e for residents, the tn￿1¢¢$ identified a change in demaftd from the community, with dampened demand for residential and EMI care provision. The trustees met with Cardiff Council in Autumn 2022 to proactively s¢¢k to addre&5 these material risks and maintained close contact followin8 thts meeting. Th¢ trust¢¢s provided comprehensive and measuTed scrutiny of the Chief Executive and the activiti¢s of the organisation. This included consideration of monthly operatfftonal accounts and oversight of incom¢ and expenditure. The trustees identified a mismatch in the inflow of revenue and the outtlow of ¢XFtnditure and the erosion of reseryes presentcd a matcrial risk to the ¢xist¢n¢¢ of the organisation. The trustees commission¢d Grant Thornton Ac£ountants to pn)vide stKciaiist tailored advice on th¢ options available to the trustees to r¢siK)nsibly respond to the damkKned demand facing Cartref. The trustees felt timely and early advice provided suitable optiODS to best manage these circumstances. With damp¢ned demand for r¢sidential and EMI care provision the trustees explored whether Cartref could provide nursing care io the community and also considered a s￿e of the organisation by way &8 a going concun. The trustee5 identified the layoui and age of the care homes as a prohibitive factor in secking io vary the care provision. Despite F*st effort5 to cxplor¢ alteTnative options. the trustees met with staff during Mhrch 2023 to announce a stat￿Ory ￿nSUl￿tiOn on prow)sals to close both homes and cease operating as a Ca￿ homes provider. Prior to commencing this consultation suitable advice was sought and provided from employm¢ni 5￿CIaliSt￿ Rcfrcshing Law Limit¢d. Throughout this peTiO(L staff Continued to show the professionalism and Gqre which has earned Cartref its enviable reputation as one of Wales. Ftst care home providers. As trustees we are sincerely appreciative to the efforts and commitment of our staff. As Cl)aiTmaty l am most grateful to the trustees for their continucd and unwavering SUPFK)rt. In the year under review, th¢ trustees responsibly g)ught ￿VICe from prof¢ssionals including Aslyi Planning Consultants. Dolmans Solicitors. Hugh Jame5 SolicitOT& Grant Thornton Accountants, Savills and Refreshing Law Limited. Professional rep￿rtS were provided following instruction from Trustees. The trustees Continued to m¢ct regularly with the Chief Executive Olficer, in order to discuss operational matter& the impact of Covid-19 and Tegulatory changes and d¢¢isions.

Cartref Limited (A COMPADY limited by guarntttee) Charity No. 1113855 Company No. 115626413 Report of tbe trustees (illcorporating the dRrectors' report) ror ihe year ended 31 March 2023 Fingntial review Perforpnance review The financial ￿￿onnanCe of the charity is comprehensively disclosed in the attached financial ststements. Reserves￿lICY It is the w)licy of the Charity thÈt funds not committed or invested in tangibl¢ ass¢ts should k ¢quival¢nt to at least two months of resources expended. Pl(7TLsforfviure period Thc charity has a fifieen month plan which includes income fTom inveslments to be used for gfdnt making purp)s¢s in line with its consiitution. The trustees shall continue to obtain professional advice whenever neccssary and shall not make grants directly to individuals or io fund resear¢h. The trustees are exploring an annual small grants progrdmme and shall ¢ontinue to rely utrf)n professional advic¢ prior to and following grant making. The trustees have called for and awatt th¢ Margaret Dain interim estat¢ accounty IHT400 and residue inforniation fron) the ¢x¢cutors. Ststement s to disclosure of infornialion lo auditors In so far as the truste¢s aTe aware: there is no relevant audit infomialion of wbich the charitable cotnparty's auditors are UDaware" and the llustees have taken all step5 that they ought to have tskeD to make themselves aware of any relevant audit infoTmation and to estsblish that the aUdI￿rS are awa￿ of that inforn)ation. Ststemeni oftrnstees. re5POD5ibili¢ies Thc trnst¢¢s (who aTC also diffctOTS of Cartftf Limiied for the PUTrMyse of company law) are resw)nS￿bj¢ for preparing the trustees, annual report and the fmancial statements in accordance with applithle law and United Kingdom GeneTally Accepted Accounting Practice. Company law requires the tTUStees to PTepaTe financial stat¢m¢nts for each fllwicial year which give a true and fair view of the strte of affairs of the charithble ¢ompany and of the incoming resources and application of resourccs. including the income and ¢xwiditure. of the charitable company for that riod. In preparin8 these financial stsiements th¢ tn￿5 are required to: select suitable accounting wglicies and then apply them consistently" observe the methods and prRncipks in the Chariti¢s SORP. make judgements and estimates that are re&fonable and prudenL stste whether applicable UK Accounting Standards hav¢ been followed. subject to any material d¢parturcs disclosed and explained in the fllwicial statements" and prepaTe the financial stateTnents on the go&ng concern basis unless it 15 inappropriate to pr¢sume that the charitable company will ￿ntinue in o￿T￿lOn.

Cartref Limited (A COMPDY limited by guarnDtee) Charity No. 1113855 Company No. 05626413 Report of tlke trustees (incorporating ihe diTec1013' reFK)rt) for the year ended 31 March 2023 The trustees are responsible for keeping proper accounttng re¢ords wht¢h disclose with reasonable accuracy at any time the financial position of the ¢haritsble company and which enable them to ensu thai the financial statements comply with the Companies Act 2006. They are also responsible for safeguaTding th¢ assets of the charitsble company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees have complied with the duty in section 4 of the Charities Act to have due regard to guidance published by the Charity Commission. including public ￿nefit guidance. The trustees have referred to the guidance on public benefit when wnsidering the charity's aims and activities and consider that the charity is providing a service for the benefit of the public. Audi¢or5 Naunton Joncs Le Masurier are deemed to be TeapwJint¢d in accordanc£ with Section 487(2) of the Companies Act 2006. Small compathy provmions This rqK)rt has been PTepaTed in accordance with the stttial provisions applicable to companies entitled to the small companies exemption. This report w&$ approved by the Frf>ard on 6 Cktober 2023 and signed OD its behalf by Mr J Williams Chgirni%n of the Board of Trustees

Cartref Limited (A company limited by guarantee) Independent auditor's rewrt to the member5 of Cart￿rLI￿1ltd We have audited the financial statements of C8rtref Limited for the year ended 31 March 2023, which comprise the statrmeni of financial activities, the balance sheet and the related notes. The financial r¢FK)rting framework that ha5 been applied in their prepardtion is applicable law and Unitcd Kingdom Accounting Standards (United Kingdom Generally Accepted Accouniing Practice. including SORP FRS 102 -The Financial Re￿)rtIng Stsndard applicable in the UK and Ireland". This r¢px)rt is made solely to the company's members. &5 a Imxly. in 4￿rdance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the ¢haritsble company's members those matters we are required to sthie to them in an auditor's reFK)rt and for no other purpose. To the fullest extent pernitted by law. we do not accept or assume responsibility to anyone other than the charitable company and the charitable company'5 members as a body. for our audit work, for this reporL or for th¢ opinions we have forn]¢d. Opillion on the financial slatements In our opinion the financial statements.. give a true and fair view of the state of the charithble wmpany's affairs as at 31° March 2023 and of its deficit for the year then ended. have been properly prepared in accordance with United Kingd(xn Generdlly Accepted Accounting Practice" and have i￿en properly prepared in accor￿ with the wuirements of the Companies Act 2006. Bgsis for opinion We conducted our audit in a¢¢ordan¢¢ with International Stsndards on Auditing (UK) (ISAS (UK) and applicabl¢ law. Our ￿$￿nsibilItieS 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 th¢ company in accordance with the ethical requirements that aTe relevant to OUT audit of the financial statements in the UK including the FRC'S Ethical standa￿ and we have fulfilled our other ethical responsibililies in accordance with these Tequirements. We believe that the audit eviderA¢e we have obthined is sufificient and appropriate io provide a basis for our opinion. Conclusions relating to goibg concern We have nothing to rewrt in respe¢t of the following matters in relation to which the ISA5 (UK) requi us to rel￿ to you where: the trustees, of the going ¢oncern basis of xcounting in the prei)aration of the financial statements is not appropriate- or the trustees havc not disclosed in the fuwicial statements any identified material uncertainties that may cast Significant doubt about the company's ability io Continue to adopt the going concern basis of accounting for a Peri(￿ of at least ¢welve montlLS from the dats wh¢n d f￿ancial statements are authori5ed for issue. Otber informatioll The other inforniation comprises the inforniation included in the annual rewrL other thall the financial statements and our auditorf5 r¢wJrt th¢ffon. The trustees are reS￿nsible for the other inforniation. Our opinion on the financial ststements does not cover the other inforniation and. except to the extent otherwise expli¢itly stated in our reporL we do noi express any fonn of &ssurdnce conclusion thereon.

Cartref Limiied (A compny limited by guarantee) IDdependenÉ auditor's report lo ihe members of Cart￿f Limited In connection with our audit of the financial Slatemen￿ our responsibility is to read the other information an￿ in doing so, consider whether the other inforn￿tion is materially inconsistent with the financial statements or our knowledge obtained in th¢ audit or otherwise appear to be materially misstated. If we identify such material inconsisten¢i¢s or apparent misstatements. we are required to determine whether there is a material mIssta￿Ment in the fllwicial statements or a material misstatement of the other inforniation. If, b&sed on the work we have [￿rf0m]e4 we conclude that there is a maierial misstatement of this other inforniation. we are required to report that fact. We have nothing to rep)rt in this regard. OpinioDS on other matters prescribed by ihe Compamies A¢1 21 In our opinion, based on the work undertaken tn the Course of the audit: the infornlation given in the tru￿¢¢$, rew)rt for the financial year for which the financial statements are prepared is consistrnt with the fjnancial statements; and the tnLStees' rcport h&$ been prepard in accordance with applicable legal requirements. Matters on wbi¢h we are reqllired io report by exeeptioD In the light of the knowledgc and understanding of th¢ charitsble company and its environment obtained in the course of the audiL we have not identified material misstatanents in the trustees. report. We have nothing to rew)rt in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not E¢en kepi or returns adequate for our audit have not iKen r¢¢eived from branches not visited by us" or the financial statements are not in agreement with the xcounting records and th¢ returns; or certain disclosures of t￿St¢¢$' remuneration SFttified by law are not ma(k" OT we havc not r¢ceived all the iDforn]ation and explanations we require for OUT audiL or the trustees were not entitl￿ to prepare thc financial statements in ac¢ordanc¢ with the small companies regime ond rake advantage of the small companies, exemptions in preparing the trustces, rewrt and from the requirement to prepare a strategi¢ rew)rt. Responsibilities of the IrysteL8 The tTUStees are responsible for th¢ preparntion 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 preparntion of f]nancial ststements that are free fTom material misstatemenL whether due to fraud or eTror. In preparing the financial ststernen￿ the tsvstees are Teswnsible for assessing the charttsble company's ability to continue as a going concern, disclosing, as applicable, matters rclated io going concern and using the going ¢oncern basis of accounting unless the tTU5tC¢s either intend to liquidat¢ the charitsble Company or to cew operntions, or have no r¢alistic ahernativ¢ but to do so. A¥ditor'5 responsibilities for the audit of the fiDanci*l ststements Our objectives are to obtain reasonable lssurdnce about whether the financial statements as a whole a free froTn material TnisststemenL whether due to fraud or elror, and ￿ issue an auditorfs report that includes our opinion. Reasonable assurdnce is a high level of assvran¢e. but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a rnater1￿ misstatement when li exists. Missiafements can arise from frnud or error and are considered material if. individually or in the aggregate, they could ￿asonablY be exFrtt¢d to influen¢¢ the economic decisions of users taken on the basis of these financial statements.

Cartref Limited {A company limited by guaraDt¢e) IDd¢pendeknt auditor's report to the membeys of Cxrtref limited As part of an audit in accordance with ISAS (UKA we exercise professional judgement and maintain professional scepticism throughout the audiL We also: identify and assess the risks of material misststement of the fllwicial ststemcnt& whether due to fraud OT error, design and ￿forn audit prc¢edures reswnsiv¢ to those risks, and obtsin audit evidence that is sufficient and appropriatc to provide a basis for our opinion. The risk of nirt deiecting a material misstatement resulting from fraud 15 higher than for one resulting from error. as fraud may involv¢ collusion. forgery. intentional omissions. misrepresentstions, or the override of internal ¢ontrOI. obtain an understanding of intcrnal wntrol r¢l¢vaDt to th¢ audit in ord¢T to dcsign audit procedures that are appropriate in the circumstances, but not for the PUTtK)se of expressing an opinion on the effectiveness of the internal control. evaluate the appropriateness of accounting wli¢ies used and the rug)nableness of ￿coUntIng estimates and related disclosures made by" the commirtee. onelude on the appropriateness of the tru5t¢¢'s use of the going concern blsis of accounting and, b￿d on thc audit evidence Obtain￿ whethera material uncertainty exists related to events or conditions that may cast significant doubt on the Charl￿ble company's ability to continue as a going concern. If we conclude that a material uncertainty exists. we are required to draw att¢ntson in our audito¢5 rcport to the T¢lat¢d disclosures in the financial statements or, if such disclosures aTe inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the dat¢ of our auditorfs rqK)tL However, firture events or c4)nditions may caus¢ the charitable company to cea5¢ to continue as a going concern. evaluate the overall presentation. slTUCture and conteni of the financial statements, includtng the disclosures, and whether the financial statements rcpresent the undeTlying transactions and events in a manner that achieves fair presenlation. We communicate with th0￿ charged with governance re8ardiD& aniong other matters. the planned scope and timing of the audit and significant audit findings, including any significant deficien¢i¢s in internal control that we identify during our audxL Peter Vivian ￿knt Chaffey FCCA SeDior Ststutory Auditor Naunton Jones Le Masurier Chartered Certified Ac¢ouDlants ReEisiered Audilors 12 York Place Barry CF62 7ED //,.123

Cartref Limited (A ¢ompany limited by guarnDlee) Statement of financial aetivilies (incoryor8tiDg the RDcome and expEDdilure account) For the year eDded 31 March 2023 Unrestiicted funds 2023 Tolal 2022 Totsl Notes IDcomiDg r¢sources Incoming ￿ sow¢¢s from generating fi￿ds. Voluntary income Activities for generdting fillKts Investment in¢om¢ Incoming resources from charitsble activities Other incoming re50urees 357,755 1.974 6.428 1,972,744 2,733 2,752,079 192 050 Tolal incon)ing re¥oyrc&¥ Resources eI￿nded Costs of gen¢rating funds= Investment management COSLS Costs of charitsble activities Governan¢¢ costs 2.670 3.099,969 949 2,515,453 Total resources expended 33 Ne¢ income l (oulgoillg) resourw before other recognised gains and losses (702.983) 424.503 Oiber re¢ognised gains and lows Gainsl(loss¢s) on disw)sal and revaluation of investment assets io Ne¢ io¢oming l (outgoiDg) resourees (713.150) 423.041 Total fimds brought forward 2 684 099 Total funds carried forwgrd The Dota on ￿g¢S 10 to 18 form an inlegral part oftbese ststem¢nt& 10

Cartref Limited (A company lÉmited by guaTalltee) Company Dumber- 05626413 Balan¢¢ sh¢ei as at 31 Mareh 2023 21123 2023 2022 2022 Notes Fixed wets Tangible assets Investments 16 17 1,809,853 1,825.960 184 037 1.809.853 2,009,997 Current ￿ets tkbtOJ3 Cash at bank and in hand 18 184,650 278,903 693 488 914.644 972.391 Creditors: amounts T￿1]Dg due wi¢biD ODe year 19 {255 789) et ¢urren¢ &uetsl(liabilities) 193,596 716.602 Creditors: atllouttts falling due after more than one year 20 Net awts Funds Unr¢stri¢ted income funds 22 1970 949 2 684 099 Tolal funds 137Q249 2 684 099 The financial statements are prepared in a¢¢ordance with the provisions applicablc to companies subject to the small companies. regiTne and in accord￿ with FRS 102 -The Finall¢i81 ReFK)rting Standard applicable in the UK and Republic of Ireland" The finan¢iaR statements were approved by the knard on 6th October 2023 and Signed on its behalf by Mr J Williams Direetor Tbt noies on pages 10 to 18 forn n integral part of these finDci41 $tst¢ments.

Cartref Limited (A Company limi¢ed by guar2ttle¢) l¥otes to fiDaD¢ial $tstemeDts For the year eDded 31 March 2023 AecoulltiDg policies The principal accounting policie5 are SuDu￿sed below. The accounting policies have been applied consistently throughout the year and the preceding year. 1.1. Bgs&5 of gceoynting The financial statements are prepared under the historical cost convention, except for iThve51ments which are includcd at markei value, and in accordance with the Ststement of Recommended Practice.. Accounting and R¢ponin8 by Charities preparing thexr accounts in accordance with th¢ Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Companies Act 2006. The ¢haTity ¢onsiitutes a public benefit ¢ntity as defined by FRS 102. Following the closure of EK>th care bome4 the charity will become a grdnt making organisatio following professional inveslment advice. the prw¢eds of the sale of both pro￿rtieS will be invested and grants made to organisations in line with our charitable obje¢tives. We are and continue to be a going concern. The grant poli¢y wxll ￿ adopted by the tsustees in due course. however this will be in line with our ¢haritsbl¢ objectives. Examples may include grdnts to suptK)rt dementia services su¢h as dementia cafes and supwyrt for organisations who assist the elderly. la. Fund accounting The charity only holds U[￿StrICted funds. These fimds received orgeneratedthat are available for use at the dI￿retiOn of the trust¢¢s in fitheranLZ of the general objectiv¢s and purw)se of the charity. IJ. Incoming resources All incoming resourccs are included in th¢ stst¢ment of financial activities when the ¢harity is entitlcd to th¢ income at)d the amount can be qLWltified with reasonable accuracy. The following specific poli¢i¢s are applied to particular categories of income: Voluntary income is received by way of grnits. donations and gifts and is included in full in the statement of financial activiiies when receivable. Legacies are included when the charity is advised by the personal representative of an estate thkt payment will be made or property transfeTred and the amount involved can ￿ quantified. Income from investsnents is included in the year in which it is receivable. Incomang resources from fiLndraisin& sundry sourcc5 and charitable trading activity are accounted for as and when earned. 12

Cgrtref Limited (A company limiied by guarantee) Notes to financial ststements For the year eDded 31 Marcb 2023 1.4. Resource8 expended Expenditure ts r￿ognIsed on an accnjal basis as a liability is incutred. Expenditure includes any VATwhich cannotbe fully recove￿ and is rep)rted as partof the expenditure to which it ￿lat¢s. Cosls of seneratins funds comprise the costs &8S￿lated with atlra¢ting voluntary income and th¢ ¢osts of trnding for fundraisin8 purpN)s¢s including the charity's vending machine. payphone and inveslment wjrtfolio. Charitabl¢ expenditUT¢ COTnpris¢s those costs incurred by thc charity in the delivery of its activities and services for its beneficiaries. It includes knth wsts thal can be allocated directly to su¢h a¢tivities and those costs of an indirect nature necessary to support them. Governance costs include those costs associated with rneeting the constitutional and statutory requirements of the charity and include the audti fees and costs linked to the strategic management of the chartty. l.& Tangible fixed &￿ets and deprecialion Tangible fLxed assets donatrd to the charity by a c0nncCt￿ UDincorpordted charity in 2008 art stated at their estimated fair value on transfer less depreciation. Depreciation 15 provided based on the remaining estimated useful economic lives of the assets at the time the assets w¢r¢ donated. Tangible fixed assets iM)ught by the charity ar¢ stated at cost less accumulated deprecRation. tkpreciation is provided at rdtes calculated to write off the cost less residual value of each asset over its expected useful life. Land and buildings - over ex￿ useful economic life of SO years with r¢sidual valu¢ of £50.000 10- 330/• Strnight line - 2￿/0 straight line Fixtures, fitting5 and equspment Motor vehicles I.& IDvestJneDts Investments held as fixed assets are revalued at mid_market value at the balance sheet date and the gain or loss tsken to th¢ ststement of fu￿claI activities. 1.7. Llasillg Rentals payable under operdting leases are charged against tnwme on a strnight line basis over the Iwe terni. IA Defined ttsntributiott pensioD schemes The pension costs ¢harg¢d in the financial ststements represent the contribution payable by the charity durAng the year. VoluDtsry income 2023 Total 2022 Total Frazer trust Staff and memorial donations t£gacy received 1.5(Kl 6,255 1.500 474 13

Cartref Limited (A collbpany limited by gyaran¢e¢) Notes to finalleial slatemeDts For the year ended 31 March 2023 Adivitits for generxtltsg hthds 2023 Totsl 2022 Tot%1 Fundralslng events Investment iDcome 2023 Totsl 2022 Total Bank interest receivable Dividends received 1.304 446 Incoming resonr¢es from ¢haritsble aelivities 2023 Tolal 2022 Total A¢wmm(Mlation fees Other incomithg r¢sour¢¢s 2023 Totsl 2022 Total Government grdnts 192 050 IDvestmettt niaDagemeDt 2023 Tothl 2022 Total Investment management fees 14

Cartref Limited (A company limited by guarnDtee) Noies to fiD*Dcial stalemeDts For the yeydr ended 31 March 21ll3 Costs of ¢harit2ble activities Activities undertakeD direetly Support ¢osts 2023 Tolal 2022 Total Provision ofresidential CQTefor ￿￿erlY Staff costs (see note 12) Staff traiTLing Staff uniforms Catering Services to residents Household ex￿nSeS Rates Insuran¢¢ Light and heat Repairs and renewals Hire and maintenance of equipment Printing, Fx)sta8e and ststionery Computer costs Telephones and internei Advertising Motor expenses Bad debts General expenses Subscriptions Bank Int¢￿51 and char8es Loan interest Lkpr¢¢iation and amortisation 2.446.118 7,264 2,999 67,852 7.590 33.974 19.304 33.431 72.487 114.910 25.005 186,781 2,632.899 7,264 2.999 67.852 7,590 33.974 19,304 33.431 72.487 114.910 25.005 8.096 11.197 7.285 1.584 3,716 2.080.216 3,467 2,534 71,081 7,232 30,700 24.415 25.298 73.020 95.487 22,574 13.644 8,475 6.608 1,663 3.819 11.197 7.285 1.584 3.716 3.560 3.560 1.998 771 949 1.917 1,318 1.147 870 1.998 771 949 1875.112 L099.969 2O1L4&3 Support costs have been all￿4￿d and apwrtioned on the basis ofe5timated staff time (staff costs) and equipment usage {telephone and internet and dew￿latIOn). 15

Cartref Limited (A company limi¢ed by guaranlee) Notes to financial ststemellts For tb¢ ye*r ended 31 Marrh 2023 Govern4Dce Costs 2fll3 Totsl 2022 Total Auditor remuneration Legal and Professional General expenses 6.720 20.711 6.000 948 983 10. Other recogllised gaims l (lo&ses) 2023 2022 Totsl Realis¢d gains l (losses) on disposal of invesknents Unrealised gains l {losses) on revaluation of investments 11. Net {oulgoiDg)fiD¢omiog resour¢es for the year 2023 Tolal 2022 Total Nel (outgoingyincoming rcsourccs 15 Statcd aftcr charging: Depreciation and other amowits written off tsngibk fixed assets Audii¢)TS' r¢mun¢ration 43.098 39,968 16

Cartref Limited (A Company limited by guarantee) Note5 to fiD*Deial ststsThellts For the year eDded 31 March 2023 12. Employees 2023 Total 2022 Totsl Employm¢n¢ c(K8ts Wag¢s and salaries Social security costs Pension ¢osls Staff redundancy and holiday pay 1,948,377 142,212 86,171 456 139 1,869.063 120.946 90,207 No employee received emoluments of more than £fAI.￿o (2022: None). Number of employees The averdge monthly numbers of employees (including the InLStees) during the year. calculated on the basis of full time equivalents, was as follows: 2023 Number 2022 Number Direct cmployees Management and administration mainl￿ance 106 13. Trnstees. en)ol¥ments and trnDsac¢io No payments were mad¢ to th¢ tntstecs for ranunerntion or reimbursements for expenses during the year (2022 - Nil). No trustee. or other p¢rson related to the Charity, had any other personal interest in any contract or transaction entered into by the charity during the year (2022 _ Nil). 14. PeD$iOD Costs The company op¢rdtrs a der￿ed eontribution pension Sc1￿Me in respect of its ¢rnployees. The scheme and its assets are held by Inde[￿dent managers. The pension charge represents contributions due from the company and was as follows.. 2023 2022 Pension charge 90 Premiums outstanding at 31 March 2023 and included within accruals aJnounted to £9.764 (2022 - £9,359) 17

Cartref Limited (A company limited by guaraDtee) Notes to financial statements For the y￿r ended 31 March 2023 15. TaxYdtiOD The activities of the charity fall within the exemptions afforded by the provisions of the Corporntion Tox Act 2010. Accordingly. thwr is no toxation ¢harge tn these accounts. 16. Tgngible fiied ￿Sets LaDd buildiDgs Trtthokl Fixtures fitttDgs and equipment Motor Vehicks Total Cost At l April 2022 Additions DisFX)sals 2.019.321 249.422 27.929 26.129 2,294,872 27,929 (22 113) At 31 March 2023 Depreciatio At l April 2022 Charge for the year Disposals 219.089 223,694 27,386 16.650 26.129 468.912 44.036 At 31 March 2023 Net book values At 31 Ma￿h 2023 At 31 March 2022 800 17. FiIed xsset inves(meDts Li51ed iDvestrnents Totsl Valugtion At l April 2022 Additions DIs￿)saIS Revaluation5 184,037 13.988 (198.025) 184,037 13,988 (198,025) At 31 March 2023 Historical cost &s at 31 March 2023 All fix￿ as5¢t inv¢5tmcnts W¢￿ h¢ld within the United Kingdom. 18

Cartref Limited (A ¢ompaoy limiied by guarantee) Not&s to financial statements For the ye8r ended 31 Marrb 2023 18. Deblors 2023 2022 Trnde debtors Prepayments and other debtors 114.606 261,433 19. Creditors: amounts falling due within ODe year 2023 2022 Bank overdrnft Trad¢ ¢r¢ditors Other tsxes and s(Kial sccurity Accruals and deferred in¢oTne 29.804 19.808 24,709 15.918 44,065 22,534 173272 255 789 2023 2022 20. Creditor5: amounts falling due after more than one year Boun¢¢ back loan 42 21. FiDaDc1￿ commitments At 31 March 2023 the company had annud commilments under non-caDcellable opernting leases as follows: 2023 2022 Expiry date: Within one year Between two and five years Over five years 45.119 47.265 115 711 92.3¥4 11.5 19

Cartref Limited (A company limited by guranlee) l¥otes to financial statements For the year ended 31 Mareb 2023 22. Unrestrieted funds At l April 2022 Other gaill Incomittg Outgoittg (lo&ses) At 31 MaNb 2023 General unrestricted fund 216,699 2.421.877 (3.128.618) Investment fund 40,104 6,428 (2,670) {10.167) Cartref Committee donated fund 2 427 (490,042) 33.695 2 427 296 Purposes of unrestrieled funds The purtK)se of the unrestricted fimds is to enable the Charity to cany out its aim of the provision of residential care for the elderly. 23. Unrestricted funds anatysiq 2023 2022 Fund balances at 31 March as represented by: Tangible fixed assets Inv¢stm¢nt assets Bank and cash Net money due tol{from) the charity 1.809,853 1.825,960 184,037 693,488 729.994 568 898) 24. Company limited by guar4Dttt CaTtref Limited is a company limited by guarantre and accordingly does not have a share ¢apitsl. Every member of thc company undcrtakcs to ¢ontributC such amount as may be required not ¢xc¢eding £10 to the &ssets of the charitable company in the event of its being wound up while he or she is a Mern￿r. or within one year after he or she ceases to be a member. 25. GoiDg Concern Note Following professional advice the decision was taken to close the care hornes. A forty five day ¢onsultstion followed. Following the sale of FM)th prO￿rtIeS sale pr(tteds will b¢ investcd with income fTom investments to bc u%d for grant making purwjses in linc with its constitution. The TTUStees shall continue to obtain professional advice whenevernecessary and shall not make make grants dire¢ily io indiyiduals or to fund research. The trnstees aTe exploring an amiual small grants programme and shall continue to rely upon professional advice prior to and following grant making. In June 2023. the charity ¢ook out a short tern) Icn for £570.000. This was tsk¢n out for cash flow purposes to pay redundancy pMym¢nts. noti¢¢ pay and holiday pay upon Closure. The loan is to b¢ r¢paid within 12 months. 20