Company registration number.. 05093332 Charity gIStratIon number.. 1116774 cymorth cymru CYMORTH {CYMRU) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 HSI Audit Limited
Cymorth (Cymru) Contents Page Trustees, Report Independent Auditorfs Report 12-14 Statement of Financial Activities (including Income and Expenditure Account) 15 Comparative Statement of Financial Artivities (induding Income and Expenditure Account) 16 Balance Sheet 17 Notes to the Financial Ststements 18-25
Cymorth (Cymru) Company No. 05093332 Trustees, Report For The Year Ended 31 March 2025 The trustees present their report and the financial statements for the year ended 31 March 2025. Objective5 and Activities Aims and Objectives Our vision.. A Wales where everyone can live safely and independently in their own homes, realise their aspirations and thrive in their communities. Our mission.. Connect, strengthen, influence and inspire service providers. policy maker5 and partner5 to.. Prevent homelessness Support people to live safely and independently in their own homes Enable people to realise their aspirations and thrive in their communities. Our values: Compassion and respect: We will demonstrate and promote compassion and respect in all aspects of our work. Independence: We will be politically independent to ensure that we can art with integrity and for the benefit of our members. Partnership: We will continue to build effettive partnerships across different sectors and policy areas to achieve the greatest impart. Transparency and accountability: We will be open. transparent and honest in all that we do and we will be accountable to our members for our artions. Making a difference: Above all, we will strive to ensure that the work we do, and that of our members, has a positive impact on people and communities in Wales. Our objectives.. Influence: We will provide a strong, national voice for our rnembers and the people they 5UPPOrt. We will campaign for improvements in public perception, policy, legislation and practi to help prevent homelsneSS and support people to live independently in their own homes and communities. Strengthen: We will support our members to develop their skills. knowledge and expertise so they can deliver high quality, person-centred, psychologically-informed services that have the greatest possible impact on people's lives. Connect.. We will provide opportunities for our members to connect with each other, people who use services, government and other decision makers through our events, networks and commLJnications. Sustain: We will ensure that Cymorth is financially sustainable and can continue to deliver a high quality service for our members. We will use our influence to ensu that high quality housing and support continues to be available for as long as people need it. Significant Activities Shaping future services Influence: We have been at the heart of the work to develop homelessness and housing support policy and legislation in Wales, while ensuring our members have opportunities to influence it. We have championed the development of policy, service models and commissioning practices which are high quality, person-centred, psychologically and trauma informed, evidence based, innovative, collaborative and based on strong values, compassion and kindness. Strengthen: We have shared eviden and good practice to support improvements to services. We have delivered training and support to our members to help them to embed PIE. We have supporteil the roll-out of evidence-based interventions such as Housing First to uce homelessness and rough sleeping. Connect: Our events and briefings have showcased good practice from across the UK and Europe and provide an environment for providers, landlords and local authorities to connect with experts and each other. Sustain: We have continued to campaign and lobby for homelessness and housing-related support funding to be increased, ring-fenced and protected from cuts. ..CONTINUED Page I
Cymorth (Cymru) Trustees, Report (continued) For The Year Ended 31 March 2025 Significant Activitie5 - continued Working with and for our members Influence: We have listeneil to and valued our members. views and expertise. We have represented their views to decision makers, championed their work, and advocated on behalf of them and the people they support. Strengthen: We have supported our members and strengthened their skills and knowledge through our events, research and training. We have also been a critical friend and challenged our members to be the best they can. Connert: We have connerted our members with experts and decision makers through our events and communications. We have run regular networks on key issues such as housing related support, leaming disabilities, substance use, and Housing First. We have supported our members in north and west Wales. Sustain: We have worked hard to maintain the confidence and support of our members, by delivering a high-quality service that provides value for money. Experts by Experience Influence: We have supported people to have a voice in our events, policy and campaigns work, so that their experiences help to shape policy, legislation and practice. Strengthen: We have supported people to develop their skills and Confiden during their involvement and ensured that they feel valued and empowered. Connect: We have involved people with lived experience of homelessness and housing related support services in a variety of ways so that they can connert with decision makers, the media and people who deliver services. Sustain: We have encouraged our members and partners to involve people who have used services in the design and development of policy and services, locally and nationally, for the long term. Partnership and collaboration Influence: We have worked with partners within and outside of the housing and SUPPDrt sertor to strengthen our calls for changes to policy, legislation or fvnding. Strengthen: We have strengthened our links with health. social services and justice in order to promote collaborations with the housing sertor. Connect: We have worked with our sister organisations across the UK and in Europe and forrned strategic partnerships with organisations who can help us to achieve our objectives. Sustain: We have continued to work in partnership with partners to reduce our expenditure and deliver value for our members. Working with the Welsh Government Influence: We have developed a positive and constructive relationship with Ministers and officials - but we have maintained our independence and have not been afraid to challenge policy or legislation that will have a negative impatt on the people our members support. Strengthen: We have worked with, scrutinised and lobbied the Welsh Government to strengthen policy and legislation so it has a positive impact on people's lives. Connect: We have connected our members, priorities to Welsh Government priorities, identifying opportunities to influence the national agenda. We have highlighted the positive impact our members have on Wales. Sustain: We have worked hard to demonstrate our value ar)d continue to be viewed as a key and invaluable partner in the development of policy and prattice to end homelessness and sUPPOrt people to live independently in Wales. A strong and sustainable future The delivery of this plan is dependent on Cymorth Cymru being strong and sustainable into the future. Financial sustainability: We have demonstrated value for money for our members and existing funders. We have diversified and sustsined income streams Whe this helps us to achieve our strategic objectives. We have balan the need to diversify income with the need to maintain our focus and deliver value for our members ..CONTINUED Page 2
Cymorth (Cymru) Trustees, Report (continued) For The Year Ended 31 March 2025 Significant Activitie5 - continued A strongy effective Board and staff team: We have recruited high quality people who demonstrate their commitment to our values. We have ensured our Board operates in the spirit of openness and transparency, providing good 5UPPOrt and challenge to the staff team. We have supported people with their mental health and wellbeing and create a positive work environment where people can develop and flourish. We have promoted equality and diversity at work and in all we do. Public Benefit Over the last year we have reviewed our strategic aims. objectives and activities to ensure that our work continues to remain focused on our charitsble purpose of providing advice and support to voluntary and other agencies in promoting the relief of persons who are in poverty, sickness and distress. The tnjstees confimi that they have complied with the requirements of Section 17 of the Charities Art 2011 to have due regard to the Charity Commission's guidance on public benefit. Achievements and Performance Charitable Artivities Influence: Housing Matters campaign: During 2024125, we led the Housing Matters campaign, which called for an increase to the Housing Support Grant (HSG) in the Welsh Government's budget for 2025126. As part of this campaign, we collerted data from our members about the pressures facing services and frontline staff, as well as the likely impart of funding cuts. We rnet with the Cabinet Secretsry for Housing and Local Governrnent, sharing this data with her, and urging the Welsh Government to increase HSG hjnding in the draft budget. We also submitted evidence to Senedd committees, to aid their scrutiny of the budget. In the draft budget for 2025126, we secured an additional £21 million for the Housing Support Grant, on top of the É13 million increase from the previous year. This means that the HSG has grown fmm £126 million in 2020 to £204 million in 2025. As a result of the eviden provided by our campaign, the Welsh Governrnent wrote to local authorities, instructing them to use the additional funding to increase frontline worker wages and help services to meet increased demand and complexity. Alongside other organisations, we also made representations to the Welsh Government about the need to increase the Homelessness pventIon Grant, resulting in a 3% InCaSe. National Insurance: In Ortober 2024, the UK Chancellor announced increases to employer National Insurance contributions, which would place an additional financial burden on support providers. We worked with partners to raise serious concerns about the impact on homelessness, Ca and support services In Wales. We wrote to Ministers, submitted evidence and advocated on behalf of our members, ensuring that they were part of the Welsh Government's discussions with the UK Government, and we raised this issue in the Senedd. We also worked with members, commissioners and Welsh Govemment officials to ensure that the Housing Support Grant could be utilised to help support providers to meet the additional National Insurance costs. Social care policy: During 2024125 we continued to highlight COnrn5 with the Welsh Governtnent's implementation of the Real Living Wage in social care. We have repeatedly raised this issue with ministers and officials, through formal Corresponden and meetings, collecting data and highlighting the shortfalls facing our members. We have also met with the WLGA and opposition politicians, prompted action from the Learning Disability Ministerial Advisory Group, and appeared on BBC Politics Wales progrdmme to highlight this issue. We have worked with Learning Disability Wales to support a five-year review of the'cornrnissioning for a Good Life, guidance through surveys, workshops and analysis of the feedback. We have represented our members at the Learning Disability Ministerial Advisory Group, Social Care Fair Work Forum, and the National Office Strategic Advisory Group, to support the development and establishment of the National Office for ca and Support. We have also been part of the Homes Not Hospitals group, working with other stakeholders to support the development of recommendations to bring people with learning disabilities or autism back home to their communities. Supported Housing standards and regulation: Over the last year we have been heavily involved in discussions about the UK Government's plans to assu supported housing stsndards through greater gulatIon and changes to housing benefit regulations. In partnership with the Welsh Government, we have met with officials from the Department for Work and Pensions on several occasions, to increase their understanding of the Welsh context. We have also been a very artive member of a task and finish group to develop supported housing stsndards in Wales. Following the publication of the UK Government consultation on Supported Housing Regulation, we hosted engagement events with our members and held a meeting with social care members and partners to inform our response. We also provided a guidance note for members, to help them to respond to the consultation, as well as working with partners to ensure a coordinated response from Wales. ..CONTINUED Page 3
Cymorth (Cymru) Trustees, Report (continued) For The Year Ended 31 March 2025 Charitable Activities - continued Housing support worl(force: Cymorth has continued to play a very active role in the Workforce Task and Finish Group, which reports to the Ending Homelessness Natior)al Advisory Board. We have been a member of subgroups on pay, support for staff, training and Qualifications, and commissioning, supporting this work by holding workshops, analysing data, writing reports, and presenting the findings to the Ending Homelessness National Advisory Board. We have also met with the Cabinet Secretary for Housing and the Minister for Social Partnership to di5CUSS the experiences of frontline workers and the need for the govemment to improve Ognition, pay and support. Inquiry into housing support for vulnerable people: In February 2024, the Senedd Local Government and Housing Committee held an inquiry into housing support for vulnerable people. Cytnorth provided written and oral evidence to the committee, alongside a number of our member organisations. We had a significant impact on the committee's report and recommendations, which includeil recommendations on funding, rapid rehousing, the workforce, multi-agency working and Housing First. Frontline Network Wales: Our Frontline Network Wales, run in partnership with St Martin-in-the-Fields, provides a unique space for frontline workers to share their views and experiences, engage with national policy issues, and access peer support. This year we held meetings to develop consultation responses to the Ending Homelessness White Paper and the Draft Mental Health and Wellbeing Strategy. We also worked with the Senedd's citizen engagement team to hold three sessions for frontline workers to contribute to the inquiry into housing sUPPOrt for vulnerable people. Improving health outcomes: Durtng 2024125 we have increased our influence withTn the health sphere, representing the homelessness and housing sector on a number of groups, including the Welsh Government Mental Health Partnership Board, the Welsh Governrnent National Implementation Board for Drug Poisoning Prevention, the National Strategic Health Inclusion Group, and NHS Wales Executive groups on mental health, suicide and self-harm. This has enabled us to highlight the particular barriers and inequalities facing people experiencing or at risk of homelessness, as well as other inclusion health groups. influencing the development of strategies, policies and prartice. Cross-government influence: We provided a strong voice for our members on a number of government groups across multiple policy aa$, advocating on behalf of people using services and encouraging a cross-departmental approach to ending homelessness and ensuring people have the support they need. This includes regular attendance and contributions at the following govemment meetings.. Ending Homelessness National Advisory Board Rapid Rehousing Task and Finish Group Workforce Task and Finish Group National Strategic Health Inclusion Group Expert Review Panel on legislative reform Supported Housing Stsndards Task and Finish Group Post Custody Accommodation Working Group Learning Disability Ministerial Advisory Group Social Care Fair Work Forum and subgroups Mental Health National Partnership Board National Implementation Board for Drug Poisoning PventIOn DWP Strategic Partnership Board Welsh Government consultstions: During 2024125 we pOnded to a variety of Welsh Government, Senedd, and UK Government consultations on behalf of our members and the people they support, including.. Welsh Government.. Ending Hornelessness White Paper Senedd Committee Inquiry.. Children and Young People on the Margins Senedd Committee Inquiry.. Social Housing Supply Welsh Government.. Ceasing of rough sleeper count Welsh Government.. Proposed ban on disposable vapes Welsh Government.. Draft Mental Health and Wellbeing Strategy Senedd Committees.. Welsh Government Draft Budget 2025126 Senedd Committee Inquiry.. The role of local authorities in supporting hospital discharges Senedd Committee Inouiry.. Housing Support for Vulnerable People UK Government.. Supported Housing regulation Representation in the media: We have continued to appear on rddio and television, highlighting the issues affecting our members and people they support, informing public perception and influencing political debate. We have also introduced journalists to our members and encouraged them to share their views and experiences. ..CONTINUED Page 4
Cymorth (Cymru) Trustees, Report (continued) For The Year Ended 31 March 2025 Charitable Activities - continued strengthen: Conferences and webinars: During 2024125 we ran a series of online and in-person events, featuring academics, policy experts and practitioners frorn across Wales. the UK and around the world. These events aimed to strengthen our members, services through the sharing of good practice and ensuring attendees are kept abreast of key policy developments, including.. Housing First Wales Conference (July 2024) Psychologically Informed Environments (October 2024) Annual Conference (January 2025) Inclusion Health Summit (March 2025) Psychologically Informed Environments: We have continued to prornote psychologically-informed approache5 within housing and other public services, successfully advocating for a trauma-infomied approach to the new homelessness legislation. We held a PIE conference in October and published a good practice guide, featuring our members, work. Our Refiettive Practice toolkit, developed in partnership with Platffomi and the ACE Hub Wales was published in February, and aims to support organisations to embed reflertion. Our PIE Network has enabled providers and commissioners to contribute to the development of this toolkit and a report on psychologically informed commissioning. Youth Experiential Learning Simulation: Working with End Youth Homelessness Cymru, we have helped to deliver two editions of the Youth Experiential Learning Simulation during 2024125. Using integrative teaching and simulations developed in collaboration with young people with lived experience, it explores what it is like to be a young person moving through various services and systems. including education, foster carei youth justice, homelessness, and more. In November, we delive the simulation in Bangor, to around 50 people from government and third sector organisations. In February 2025 we delivered another simulation at the request of the Welsh Government's request, targeted at senior decision makers in the Welsh Governrnent, local government and other public serviS such as health, social care and justice. It was attended by around 80 people including the Cabinet Secretary for Housing and Local Government. Blue Light Card: In 2024, we were proud to work with the Blue Light Card team, Hotnewards and other partners to extend access to the Blue Light Card to the homelessness and housing support workforce. From September 2024, this vital workforce was able to benefit from a range of exclusive experiences, discounts and rewards. As well as the financial benefits, this announcement provides long-overdue recognition of the critical, complex and challenging work undertaken by homelessness and housing support workers, which often goes unseen, but transforms tens of thousands of people's lives every year. Housing First principle review: In 2024, we completed our review of the Housing First Wales principles, which aimed to strengthen and re-afffirm Wales. commitment to delivering high-quality, effettive Housing First services. We established and coordinated a task and finish group, which considered how each principle was being implemented since the original principles were published, and whether there needed to be amendments to strengthen adherence to the principles. We also engaged with people who use Housing First services, to enable them to influence the review. We published the revised principles in August 2024. alongside a more detailed discussion and good practice document. Housing First Accreditation: The Housing First Wales Accreditation has been developed in partnership with the Housing First Wales Network and is supported by the Welsh Government. It is a rigorous but supportive process that assesses whether services are being delivered in line with the Housing First Wales Principles. In 2024125, we continued to guide projetts through our accreditation process, with the Swansea Housing First project being awarded the accreditation by the independent panel. This award was made by the Cabinet Secretary for Housing and Local Government during a visit to the projert. The Cabinet Secretary was joined by Swansea Council's Leader, Deputy Leader and Chief Executive, all of whom participated in a discussion about strengthening the approach to Housing First in Wales. Housing First data collection: In early 2025, Cymorth published the latest Housing First statistics for Wales, demonstrating the scale and impact of this internationally acclaimed model in Wales. Data collected from 17 Housing First projects between February 2018 and March 2023 shows that 792 people were supported by Housing First projetts in Wales during this period, 380 people started Housing First tenancies and 91.5Wo were sustaining their tenancy. Inclusion health: We have been a member of the National StTrtegic Health Inclusion Group since its inception, which reports to the Ending Homelessness National Advisory Board. The group aims to Stngthen inclusion health approaches, improve access to health seNices and improve outcomes for inclusion health gmups. As part of this work we held an Inclusion Health Summit in partnership with Public Health Wales, which shared and promoted good prattice in meeting the health needs of people experiencing homelessness, people engaged in sex work, people in the criminal justice system, people using substances, and Gypsy, Traveller and Roma communities. ..CONTINUED Page 5
Cymorth (Cymru) Trustees, Report (continued) For The Year Ended 31 March 2025 Charitable Activities - continued Connert: Communication: We have kept our members informed of other developments through our regular e-newsletter, taryeted comrnunications with our key contacts, our website, network and forum meetings, and on social media. Networks: During 2024125 we organised and ran a number of networks, which have provided invaluable opportunities to inform our members of the latest national policy developments, as well as creating a space for people to debate and discuss Issues, and connect with each other. These included our six Regional Provider Forums, the Frontline Network Wales, the Third Sertor Substance Use Network, our Learning Disability Provider Group, our Psychologically Informed Environments Network. and the Housing First Network and its subgroups. Connecting policy areas: We have continued to work across a number of policy areas to encourage more joined up approaches to ending homelessness and ensuring people have the person-centred rnulti-agency support they need. This includes work with officials and organisations working in housing, VAWDASV, mental health, substance misuse, social care, welfare and criminal justi, as well as responding to consultations across these policy areas. During 2024125 we developed a new partnership with Public Health Wales to deliver an Inclusion Health Summit, connecting decision makers and service providers across homelessness, health and criminal justice. Housing First: We continued to coordinate the Housing First Network and its subgroups, supporting the development and delivery of the model across Wales. Cymorth has also attended meetings and conferences held by the Housing First Europe Hub, which is overseen by FEANTSA. connerting with Housing First experts and practitioners from across Europe and learning about developments in a range of countries. Connecting with experts across the world: We have continued to connett with policy makers and practitioners across the UK and the world, seeking opportunities to learn and share good prdctice for the benefit of our members and the people they support. Four nations partnership.. We have regular meetings with our counterparts across the UK: Homeless Link in England, Homeless Connect in Northern Iland, and Homeless Network Scotland. This has provided invaluable opportunities to discuss developments across the four nations and non-devolved issues such as welfare and immigration. Cymorth conferences.. Over the last year our events have enabled our members to connert with speakers across the UK. This has provided opportunities to learn about different policy contexts and interventions, as well as good practice from homelessness and housing support services around the wodd. UK-wide campaigning: This year we have worked with partners across the UK to support the campaign to scrap the Vagrancy Act and Local Housing Allowance. supporting letters and briefings to MPS and Minister5 about these issues. External conferences.. Cymorth has spoken at a number of events and conferences at the request of our partners across the UK and worldwide. FEANTSA.. We continue to engage with FEANTSA. the European Federation of National Organisations Working with the Homeless, working with our European partners to share learning. research and practice. We are also part of the Housing First Europe Hub and have been artively involved in their networks and policy work. Sustain: Sector funding: Over the last year we campaigneil harder than ever to protect the Housing Support Grant from cuts to the budget and to call for more funding. As described above, this resulted in an additional £21 million being allocated to the Housing Support Grant for 2025126, on top of the £13 million increase in 2024125. While the financial settlement for our members in receipt of social Ca funding is MO challenging, we continue to advocate strongly on their behalf. Sustainable workforce: We have lobbied effectively to ensure that the homelessne55 and housing support workforce is a priority area for the Welsh Government. As described above, we have been actively involved in a number of sub-groups focused on creating a valued and resilient homelessness and housing support workforce. Our campaigning efforts also led to the Minister instructing local authorities to utilise the Housing Support Grant funding increase to enable existing services to increase frontline worker wages. We have also been working with partner organisations to raise concerns with the Welsh Goverrhment and Members of the Senedd about the shortfall in funding for social Ca providers to meet the social Ca Real Living Wage pledge. Financial sustainability: We continue to do everything we can to deliver value for tnoney to our rnetnbers and funders. We exceeded our financial target for membership income and managed to spend less than budgeted over the year. Our relationships with funders continue to be very positive, and we have been awarded core funding from the Oak Foundation, which will play an important role in our continued sustainability. Page 6
Cymorth (Cymru) Trustees, Report (continued) For The Year Ended 31 March 2025 Governance and Staffing Governance and staffing We continued to deliver the aims and objectives within our existing strategic plan, which was developed following engagement with our members about their priorities. Due to post-covid pressures and the significant amount of work being undertaken on Welsh Government policy and legislative refomi, the PA)ard agreed to extend the Strategic Plan beyond its original timespan. The Board were confident that the plan remained focused on the most important issues for our members and the people they support. During 2024125 we ernbarked on the Pro55 of reviewing our strategic plan, with plans to publish the new strategic plan by March 2026. During 2024125 we had one independent Board member with experience in finance and academia, who has provided extremely useful scrutiny and challenge. His term of office came to an end in March 2025, but the Board agreed to appoint a new independent Board member with finance expertise in September 2025. During 2024125 we had a very stable stsff team. with only one departure in April 2024. All current staff members have been with the organisation since at least September 2023. We have continued to provide training opportunities for our staff, and continued to invest in a staff wellbeing programme, which provides a range of wellbeing advice and access to counselling for our employees. Financial Review Financial Position Net incorne for the year amounted to £51,700. At 31 March 2025 the charity had Un$tritted fvnds of £571.982. After taking into account the net book value of fixed assets, the charity has free reserves of £584,028. Reserves Policy The trustees are fully aware of the need to retain a reasonable level of available reserves to ensure the continuance of service delivery thmugh challenging economic times. They oversee an annual review of financial risks and identify a sufficient level of reserves to ensure any unforeseen or unavoidable costs incurred can be met whilst at the same time making the most of available reserves to invest in developing the organisats"on. At the Board meeting on 7 July 2023 the trustees discussed the post-pandernic funding environment and the extent to which charities across the UK were reliant on their reserves during this period. As a result, the Board agreed to change our reserves policy from four months of operating costs to six months of operating costs, which equated to £222,539 based on the budget for 2023124. The reserves policy has been discussed at Board meetings during 2024125 and members continue to be content with this policy. Our current level of reserves exceeds the policy. this has been discussed by the Board over the last year and they have ged to tske a decision about how to utilise these funds as part of the VIeW of our strategic plan in 2025126. Principal Funding Sources Cymorth has three principle funding sources- government funding, membership income and events income. Cymorth has traditionally received funding from the Welsh Govemment's Housing DiOrdte to support its work with the sector and help to deliver government priorities for homelessness and housing related support. Cymorth Cymru continues to work in close partnership with the Welsh Government and plays a key role in the homelessness transformation agenda, therefore strengthening its reputation as a key stakeholder in shaping and supporting the delivery of government policy. As a result of the confidence in our work, we received a three-year ir)dicative grant allocation taking us into 2025 and we were warded a 3Wo uplift for 2025126. However, we are acutely aware of the financial pressures on the Welsh Government and the potential for a change in government following the Senedd elections in May 2026, and recognise that this could affect future funding. We have, however, secured new core fundirhg from the Oak Foundation, which has been awarded for a five- year period, subject to annual reporting. This will aid our sustsinability in the coming years, and help us to cope with any changes to other funding sources. Cuts to public spending could also affect our members, and therefore their ability to pay membership fet%. Another risk factor is the merger of member organisations and the associated reduction in their fees. This is an issue that has been discussed by our Board and will remain under consideration. However, we continue to receive very positive feedback from our members about the work we undertake on their behalf and the impatt we have had over the last few years. ..CONTINUED Page 7
Cymorth (Cymru) Trustees, Report (continued) For The Year Ended 31 March 2025 Principal Funding Sources - continued We continued to deliver an events programme during 2024125. including an increase in-person events. These were very well received, as were the online conferences and webinars we delivered. While the move to online events since the pandemic has resulted in lower levels of income and expenditure, it is clear that members see value in our events, particularly in relation to the learning, good prattice and information on key policy developments. In March 2025 we held an Inclusion Health Summit in partnership with Public Health Wales. which was very well received and has led to plans for a second sumrnit in 2026. Risk Management Since the pandemic, charities have encountered high inflation and energy prices, increases to the minimum wage and Real Living Wage, and changes to employer National Insurance contributions. At the Same tirne, there have continued to be restrictions on public funding and a lack of certainty posed by year-on-year funding agreements. All organisations wholly or partly, directly or indirectly dependent on government funding are facing an uncertain future. Cymorth Cymru is affected by this in two ways.. by the direct funding received from Welsh Govemment and the fact that the majority of our members receive public funding to deliver frontline services. We are more focused that ever on delivering value for money for our members and funders. while being acutely aware of the limited funds that our members have to spend on membership and our events. Within this context the Board carefully monitor5 key risks that need to be mitigated and consequently the level of reserves required to ensure should public funding, membership fees or other income streams redLJce, service delivery to members can be maintained whilst contingency plans are put in pla. This risk and reserves policy is reviewed on at least an annual basis, and has formed part of our discussions about our next strategic plan. Future Developments Our organisational priority remains ensuring that our strategy is sound and we are able to maximise our impart on behalf of our members and people who rely on homelessness and housing related support services in Wales. We shall do this by.. Publishing a new Strategic plan by the end of 2025126. Influencing the Homelessness and Social Housing Allocation {Wales) Bill as it proceeds through the Senedd. Continuing to campaign for increased funding for the homelessness, housing support and social care sector. Continuing to campaign for InCaSed pay and support for frontline workers. Continuing to provide a high quality, cost-effective, value for money service tr) our funders and members. Ensuring we maximise the opportunities for members to share and learn from each other and others outside the sector through our programme of events, network meetings and policy briefings. Continuing to art as a 'critical friend, to Welsh Government, as part of the third sector's role in holding government to account. Continuing to promote and incorporate the views of frontline workers and experts by experience in our work. Structure, Governance and Management Governing Document Cymorth Cymru is both a company limited by guarantee (no.. 05093332) and a registered charity (no.. 1116774). It is governed by its Memorandum and Articles of Association. Members of the Board a the charity trustees and the directors in company law. Trustee Selection Methods The Board of Cymorth is made up of a number of trustees (currently 9), including Member Trustees and Independent Trustees. Member Trustees must make up a minimum of 66Wo of the total Board. There are currently eight Member Trustees and one Independent Trustee. New member trustees are nominated from and by organisations which hold full membership of Cymorth Cymru. Nominations are welcomed from individuals who have the necessary skills. experience and knowledge to maintain a balanced and effective Board. Member trustees a appointed by the members at the Annual General Meeting. The charity appointed its first three independent tnjstees in early 2016 thmugh an open and transparent recruitment proce55. They were invited to join the Board with a vrew to erhsuring that the Board contains an appropriate balance of skills, knowledge and experience relevant to the governance reouirements of the organisation. The appointment of In(Jependent Members is approved by members at the Annual Generdl Meeting. Page 8
Cymorth (Cymru) Trustees, Report (continued) For The Year Ended 31 March 2025 Induction and Training of Trustees The Chair and Director are responsible for planning trustee recruitment. induction. training and review. A comprehensive induction for all new trustees provides guidance on their legal responsibilities and obligations. The induction also provides an overview of the operations and practices of Cymorth Cymru. With the notable exception of trustees, the charity does not rely on the SeiceS of unpaid volunteers or donations from the general public. The day to day running of the charity is delegated by the Board to the Director and staff team. Organisational Structure The Cymorth Board has overall responsibility for the strategic leadership, govemaftce and appropriate management control of the organisation. The Board is also responsible for ensuring that Cymorth fulfils its legal duties. It ha5 three primary functions- To set and ensure the organisation stays focused on delivering its mission and strategyi To ensure that the charity complies with its governing docutnent, charity law and other legal requiretnents As part of its scrutiny and stewardship funrtion, to provide support and constructive challenge to the management team, in particular the Director. Reference and Administrative Detsils Trustees M Dar (resigned 3110312025) S Lewis (appointed 0110412025) N A Yates (appointed 01104120251 K A Ellis (appointed 0110412025) S Ali (appointed 0110412025) S J Austin {resigned 3110312025) C Davies C Docherty P Richardson A Belcher (appointed 0110412025) L M Thomas {appointed 0110412025) N Hayes {appointed 01104120251 S Aldridge Company Secretary K Dalton Charity Number 1116774 Company Number 05093332 Registered Office Temple Of Peace King Edward Vii Avenue Cathays Park Cardiff CFIO 3AP Auditors HSJ Audit Limited Severn House Hazell Drive Newport NPIO 8FY Page 9
Cymorth (Cymru) Trustees, Report (continued) For The Year Ended 31 March 2025 Bankers The Co-operative Bank PO Box 250 Skelmersdale Solicitors Geldards LLP Dumfries House Dumfries Place Cardiff Page 10
Cymorth (Cymru) Trustees, Report (continued) For The Year Ended 31 March 2025 statement of Trustees. Responsibilities The trustees (who are also the directors of Cymorth (Cymru) 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 trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statement unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that peri(Id. In preparing the financial statements the trustees are required to.. select suitable accounting policies and then apply thern consistently- observe the methods and principles in the Charity SORP; make judgments and accounting estimates that are reasonable and prudent,. and prepare the financial ststements on the going concem basis unless it is inappropriate to presume that the company will continue in business. The trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at anytime the financial position of the charitable company and to enable them to ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company 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 corpordte and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdirtions. statement of Disclosure of Information to Auditors Each of the persons who are trustees at the time when this trustees, report is approved has confirmed that.. so far as the trustee is aware, there is rKJ relevant audit information of which the charitsble company's auditors are unaware. and they have taken all the steps that they ought to have taken as trustees in order to rrake themselves aware of any levant audit information and to establish that the charitable company's auditors are aware of that information. Small Company Rules This report has been prepared in accordance with the special provisions lating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The trustees. report was approved by the board of trustees and signed on its behalf by.. S Aldridge Trustee 5 Novernber 2025 Page 11
Independent Auditor's Report to the Members of Cymorth {Cymru) Opinion We have audited the financial statements of Cymorth (Cymru) (the 'charity') for the year ended 31 March 2025 which comprise the Statement of Financial Artivities (including Income and Expenditure Account), Balance Sheet and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their pparatIOn is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 'The Financial Reporting Standard applicable in the UK and Rep4Jblic of Ireland" In our opinion the financial statements.. give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, for the year then ended. have been properly prepared in accordance with United Kingdom Gener3lly ACpted Accounting Prattice; and have been prepared in accordance with the requiremer)ts 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 charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Stsndard, and the provisions available for small entities, in the circumstances set out in note 22 to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requiretnents. 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 collettively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going conr are described in the relevant sections of this report. Other Information The other information comprises the infom)ation included in the annual pOrt, other than the financial ststements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does riot 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 connertion with our aLJdit 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 ststements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or appant material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are reqUId to report that fact. We have nothing to report in this regard. Opinions on Other Matters Prescribed by the Companies Art 2006 In our opinion, based on the work undertaken in the course of the audit= the infortnation given in the Trustees, Report, which includes the Director's Report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements,. and the Director's Report included within the Trustees, Report have been prepared in accordance with applicable legal requirements. Page 12
Independent Auditor's Report (continued) to the Members of Cymorth {Cymru) Matters on Which We Are Required to Report by Exception In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Director's Report included within the Trustees, Report. We have nothing to port in respect of the following matters in relation to which the Companies Att 2006 qUI$ 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 or retums,. or certain disclosures of trustees, remuneration specified by law are not rnade. or we have not received all the infomiation 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 tske advantsge of the small companies, exemptions in pparIng the Trustees, Report and from the requirement to prepare a Strategic Report. Responsibilities of Trustees As explained more fully in the Trustees, Responsibilities Statement set out on page 1-11, the trustees (who are also directors of the charitable company for the purposes of company law) are spOnSible for the preparation of the financial ststements 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 frotn rnaterial rnisstaternent, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company'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 altemative 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 Influen the economic decisions of users tsken on the basis of these financial statements. The extent to which our pmcedures are capable of deterting irregularities, including fraud is detailed below.. Enquiry of management and those charged with governance around actual and potential litigation and claims as well as artual, susperted and alleged fraud,. Assessing the extent of compliance with the laws and regulations considered to have a dirert material effect on the financial ststements or the operations of the entity through enquiry and inspection,. Reviewing financial Statement disclosures and testing supporting documentation to assess compliance with applicable laws and regulations. Identifying journal entries and other adjustments to test based on risk criteria and comparing the identified entries to supporting docurnentstion. These included those posted to unusual account cornbinations- Assessing whether revenue has been accounted for in the correct period and the existence of revenue at the cut off date based on the adopted accounting policy for revenue. Because of the inherent limitations of an audit, the is a risk that we will not detett all irwularities, including those leading to a material misstatement in the financial statements or non-compliance with regulations. This risk increases the more than compliance with a law or regulation is rernoved frorn the events and transactions reflected in the financial statetnents, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one result from error, as frdud may involve collusion, forgery, intentional omi55ion5, rriisrepresentations, or the override of an internal control. A further description of our responsibilities for the audit of the fir)ancial statements is located on the Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's pOrt. Page 13
Independent Auditor's Report (continued) to the Members of Cymorth {Cymru) Use Of Our Report This report is made 501ely to the charitable cornpany's wnembers, 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 charitable company's members those matters that 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 charitable company and the charitable company's members as a bodyi for our audit work, for this report, or for the opinions we have formed. Andrew Hill FCCA ACA DChA BFP {Senior Statutory Auditor) for and on behalf of HSJ Audit Limited, Ststutory Auditor 17 November 2025 HSJ Audit Limited Severn House Hazell Drive Newport NPIO 8FY Page 14
Cymorth (Cymru) Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 31 March 2025 2025 2024 Unrestrirted Restrirted funds funds Total funds Total funds Notes INCOME AND ENDOWMENTS FROM: Charitable attivities.. Membership Research, policy and prartice Training and events Investments 106.450 241.370 24.774 21.312 106,450 295,267 24,774 21,312 106,375 301,454 15,159 5,189 53,897 393,906 53,897 447,803 428,177 EXPENDITURE ON: Charitable activities.. Membership Research, policy and practice Training and events (95.629) (95,629) (89,836) {215,677) (74,100) (289,777) (275,766) {10,698) (10,698) 114,157) {322.004) (74,100) {396,104) 1379,759) NET INCOME 71,902 (20,203) 51,699 48,418 NET MOVEMENT IN FUNDS 71.902 (20,203) 51,699 48,418 RECONCILIATION OF FUNDS: Total funds brought forward 500,080 32,248 532,328 483,910 TOTAL FUNDS CARRIED FORWARD 571,982 12,045 584,027 532,328 The notes on pages 18 to 25 form part of these financial statements. Page 15
Cymorth (Cymru) Comparative Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 31 March 2025 2024 Unrestricted Restricted funds funds Total funds Notes INCOME AND ENDOWMENTS FROM: Charitsble activities.. Membership Research, policy and prartice Training and events Investments 106,375 229,539 15,159 5,189 106,375 301,454 15,159 5,189 71,915 356,262 71,915 428,177 EXPENDITURE ON: Charitable activities.. Membership Research, policy and practice Training and events (89,836) (89,836) (217,064) (58,702) (275,766) (14,1571 114,157) (321,057) (58,702) 1379,759) NET INCOME 35,205 13,213 48,418 NET MOVEMENT IN FUNDS 35,205 13,213 48,418 RECONCILIATION OF FUNDS: Total funds brought fOard 464,875 19,035 483,910 TOTAL FUNDS CARRIED FORWARD 18 500,080 32,248 532,328 The notes on pages 18 to 25 form part of these financial statements. Page 16
Cymorth (Cymru) Balance Sheet As At 31 March 2025 2025 2024 Unrestrirted Restrirted funds funds Total funds Total funds Notes FIXED ASSETS CURRENT ASSETS Debtors 13 81.261 506,044 81,261 619,757 107,896 460,705 Cash at bank and in hand 113,713 587,305 113,713 701,018 568,601 Creditors: Amounts Falling Due Within One Year 14 {15,323) (101,668) (116,991) 136,273) NET CURRENT ASSETS (LIABILrrIES) 571.982 12,045 584,027 532,328 TOTAL ASSETS LESS CURRENT LIABILITIES 571.982 12,045 584,027 532,328 NET ASSETS 571,982 12,045 584,027 532,328 FUNDS OF THE CHARITY Restricted Funds unstrICted Funds 12,045 571,982 32,248 500,080 TOTAL FUNDS 584,027 532,328 These accounts have been prepared in accordance with the pmvisions applicable to companies subject to the small companies regime. On behalf of the board S Aldridge Trustee Date The notes on pages 18 to 25 form part of these financial statements. Page 17
Cymorth (Cymru) Notes to the Financial Statements For The Year Ended 31 March 2025 l. General Information Cymorth (Cymru) is a company limited by guarantee, incorporated in England & Wales, registered number 05093332 and registered charity number 1116774. The registered office is Temple Of Peace King Edward Vii Avenue, Cathays Park, Cardiff, CFIO 3AP. 2. Statement of Compliance The financial statements have been prepared in accordance with the Charities SORP {FRS 102) "Accounting and Reporting by Charities- 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) (effertive l January 20191- Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Att 2006. The financial staternents are presented in Steding {£}. the company's functional currency, and rounded to the nearest pound. The significant accounting policies applied in the pparatIOn of these financial statements a set out below. These policies have been consistently applied to all years presented unless otherwise stated. 3. Accounting Policies 3. 1. Basis of Preparation of Financial Ststements The financial statements have been prepared under the historical cost convention. The charitable company is a Public Benefit Entity as defined by FRS 102. 3.2. Going Concern Disclosure The trustees have not identified any material nrlAtIeS lated to events or conditions that may cast significant doubt about the charitable company's ability to continue as a going concern. 3.3. Fund Accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Designated funds comprise unrestricted funds that have been set aside by the trustees for a specific purpose. Restricted funds are to be used for specific purposes as laid down by the donor. Further explanation of the nature and purpose of each fvnd is included in the notes to the financial statements. 3.4. Incoming Resources All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. This includes capital grants. Income from charitable attivities includes income received under contract or where entitlement to grant funding is subject to specific perfomiance conditions. This income is recognised where there is entitlement, when the receipt is probable and the amount can be measured reliably. Income is deferred when the amounts received are in advance of the performance of the service or event to which they relate. Membership fees are accounted for in the period to which they relate. other trading activities are recognised as the related services are provided and there is entitlement, probability of receipt and the amount can be measured with sufficient reliability. Income is deferred when the amounts received are in advance of the delivery of the service or event to which it relates. Investment income is recognised on a re1vable basis. It is not the policy of the charity to show income net of expenditu. Page 18
Cymorth (Cymru) Notes to the Financial Statements (continued) For The Year Ended 31 March 2025 3.5. Resources Expended liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic ber)efits will be required in settlement and the amount of the obligation can be measured reliably. Expenditu is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Expenditu on charitsble activities comprises those costs incur by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature to support thern. Support costs are those costs that, whilst necessary to deliver an attivity, do not themselves produce or constitute the output of the charitable artivity. This includes governan costs which are those costs associated with meeting the constitutional and statutory requirernents of the charity and include the accountancy fees and costs linked to the strategic management of the charity as well as a proportion of salaries based on an approximation of time spent in this area. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates. Allocation and apportionment of Costs All costs are allocated between the expenditure categories on a basis desig'ed to reflect the use of the resource. Costs relating to a particular activity are allocated directly- others are apportioned on an appropriate basis. 3.6. Tangible Fixed Assets and Depreciation Fixed assets are initially recorded at C05t. Only assets Y4hich cost £500 or more are capitalised. Tangible fixed assets are meaSUd at cost less accumulated deplatIOn and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their esb'mated residual value, over their expected useful lives on the following bases- Plant & Machinery Fixtures & Fittings 33.33% on cost 25Wo on cost 3.7. Leasing and Hire Purchase Contracts Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useftjl lives. Assets acquired under hi purchase contracts a depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the charitable cotnpany. Obligatlons under such agreements are included in the creditors net of the finan charge allocated to future periods. The finance element of the rental payment is charged to the statement of financial activities so as to produce a constsnt periodic rate of charye on the net obligation outstsnding in each period. Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the les50r are charged to the statement of financial activities as incurred. 3.8. Cash and Cash Equivalents Cash and cash equivalents are basic financial assets and include cash in hand and deposit5 held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts. 3.9. Taxation The charity is exempt from tax as all its income is charitable and applied for charitable purposes. 3.10. Pensions The charitable company operates a defined pension contribution scheme. Contributions are charged to the Statement of Financial Activities as they becorne payable in accordance with the rules of the scheme. Page 19
Cymorth (Cymru) Notes to the Financial Statements (continued) For The Year Ended 31 March 2025 4. Income from Charitable Activities 2025 Unrestricted Restricted fund5 funds Total funds Membership.. Membership Research, policy and practice.. Grants Training and events.. Events 106,450 106,450 241,370 53,897 295,267 24,774 24,774 Grants 372,594 53,897 426,491 2024 Unrestrirted Restricted funds funds Total funds Membership.. Membership Research, policy and practice.. Grants 106,375 106,375 229,539 71,915 301,454 Training and events.. Events 12,889 2,270 12,889 2,270 Grants 351,073 71,915 422,988 Page 20
Cymorth (Cymru) Notes to the Financial Statements (continued) For The Year Ended 31 March 2025 Grants, included above, are as follows.. 2025 Unrestricted Restricted fund5 funds Total funds Welsh Government Homelessness Prevention Grant: Core Funding Other Welsh Government Grants st Martin in the Field Frontline Network Oak Foundation Expert5 by Experience Platfform 232,205 5,000 232,205 5,000 37,956 15,941 4,165 37,956 15,941 4,165 241,370 53,897 295,267 2024 Unrestricted Restricted funds funds Total funds Welsh Government Homelessness PventiOn Grant: CO Funding Other Welsh Government Grants 227,017 4,792 227,017 4,792 33,657 38,258 St Martin in the Field Frontline Network 33,657 38,258 Oak Foundation Experts by Experience Platfform 231,809 71,915 303,724 5. Investment Income 2025 2024 Llnrestrirted Unrestricted funds funds Bank interest receivable 21,312 5,189 Net Income/(Expenditure) The net income is stated after charging/(crediting)'. 2025 2024 Bad debts Depreciation of tangible fixed assets - owned 699 2,400 506 7. Analysis of Expenditure 2025 Activities undertaken directly Support costs (see note 8) Total Membership Research, policy and prdrtice Training and events 78,703 239,813 8,669 16,926 49,964 2,029 95,629 289,777 10,698 327,185 68,919 396,104 Page 21
Cymorth (Cymru) Notes to the Financial Statements (continued) For The Year Ended 31 March 2025 2024 Activities undertaken directly Support costs (see note 8) Totsl Membership Research, policy and practice Training and events 74,296 231,632 11,670 15,540 44,134 2,487 89,836 275,766 14,157 317,598 62,161 379,759 8. Support Costs 2025 Research. policy and Training and practice events Membership Total Employee costs General administrdtion 11,602 1,610 3,714 35,532 4,558 9,874 1,209 229 48,343 6,397 14,179 Governance costs 591 16,926 49,964 2,029 68,919 2024 Research, policy and Training and prartice events Membership Totsl Ernployee costs General administration Depreciation Governance costs 10.229 1.057 25 4,229 29,051 3,001 72 1,637 169 40,917 4,227 ioi 16,916 12,010 677 15,540 44,134 2,487 62,161 9. Auditor's Remuneration Remuneration received by the charitsble company's auditors and their aoCIateS during the year was as follows.. 2025 2024 Audit Services Audit of the company's financial statements 4,350 5,000 Other Services Other non-audit SeiceS 640 Page 22
Cymorth (Cymru) Notes to the Financial Statements (continued) For The Year Ended 31 March 2025 10. staff Costs Staff costs were as follows: 2025 2024 Wages and salaries Social security costs Other pension costs 275,539 22,878 18,896 271,075 21,739 17,135 317,313 309,949 The number of employees whose employee benefits (excluding employer pension costs) for the porting period exceeded £60,000 was: 2025 2024 £60,000 to £69,999 The total key management personnel remuneration benefits during the year was £177.109. 11. Average Number of Employees Average number of ernployees during the year was- 8 {2024- 8) 12. Tangible Assets Plant & Machinery Fixtures & Fittings Total Cost As at l April 2024 Disposals 2,112 (2,112) 766 {766) 2,878 (2,878) As at 31 March 2025 Depreciation As at l April 2024 Disposals 2,112 (2,112) 766 2,878 (2,878) 1766) As at 31 March 2025 Net Book Value As at 31 March 2025 As at l April 2024 13. Debtors 2025 2024 Due within one year Trade debtors 11,170 70,091 11,098 96,798 other debtors 81,261 107,896 Page 23
Cymorth (Cymru) Notes to the Financial Statements (continued) For The Year Ended 31 March 2025 14. Creditors: Amounts Falling Due Within One Year 2025 2024 Trade creditors other creditors Taxation and social security Accruals and deferred income 48 2,472 1,291 10,069 22,441 1,348 1,199 114,396 116,991 36,273 15. Deferred Income Deferred income movements in the year were as follows= 2025 2024 Balance at the start of the period Income deferred in the current period Amounts released in income from previous periods 13,024 101,666 (13,024) 15,454 13,024 115,454) Balance at the end of the period 101,666 13,024 16. Other Commitments The total of future minimum lease payments under non-cancellable operdting leases are as following: 2025 2024 Not later than one year 12,128 12,128 12,128 12,128 17. Pension Commitments The charitable company operdtes a defined contribution pension scheme. The assets of the scheme are held separately from those of the charitable cornpany in independently administered fund. During the year the charge to the statement of finanoal attivities in pert of defined contribution schemes was £18,896 (2024: £17, 135). At the balance sheet date contributions of £NIL were due to the fvnd and are included in creditors. 18. Movement in Funds As at l April 2024 As?t31 Expenditure March 2025 Income Unrestricted funds General: General unrestrirted fund 500.080 393,906 (322,004) 571,982 Restricted funds ..CONTINUED Page 24
Cymorth (Cymru) Notes to the Financial Statements (continued) For The Year Ended 31 March 2025 St Martin in the Field Frontline Network 24,647 7,601 37,956 15,941 (52,400) (21,700) 10,203 1,842 Oak Foundation Experts by Experience Total restricted funds 32,248 53,897 (74,100) 12,045 Total funds 532,328 447,803 (396,104) 584,027 As at l April 2023 Asat31 Expenditure March 2024 Income Unrestricted funds General: General unrestrirted fund 464.875 356,262 (321,057) 500,080 Restricted funds St Martin in the Field Frontline Network 16.933 2,102 33,657 38,258 (25,943) (32,759) 24,647 7,601 Oak Foundation Experts by Experience Total restricted funds 19,035 71,915 (58,702) 32,248 Total funds 483,910 428,177 (379,759) 532,328 19. Transactions with Trustees None of the trustees received any remunerdtion or any other benefits from an employment with the charity or a related entity during the current or previous year. During the year the expenses reimbursed to the trustees or paid direttly to third parties were as follows: 2025 2024 Travel 120 Number of trustees reimbursed for expenses during the year was O {2024: 2) 20. Related Party Disclosures 21. Company limited by guarantee The company is limited by guarantee and has no share capital. Every mernber of the company undertakes to contribute to the assets of the cotnpany, in the event of a winding up, such an amount as may be required not exceeding £1. 22. FRC'S Ethical Standard - Provision Available for Small Entities In common with other businesses of our size and nattjre we use our auditors to prepare and submit returns to the tax authorities and assist with the prepardtion of the financial statements. Page 25