Company registration number: 06058360 Charity registration number: 1118403 

## Voluntary Action Merthyr Tydfil 

(A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 March 2021 

Mitchell Meredith Limited St Davids House 48 Free Street Brecon Powys LD3 7BN 



## Voluntary Action Merthyr Tydfil 

## Contents 

1 to 16 Trustees' Report 17 to 19 Independent Auditors' Report 20 Statement of Financial Activities 21 Balance Sheet 22 Statement of Cash Flows 23 to 37 Notes to the Financial Statements 



## Voluntary Action Merthyr Tydfil 

## Trustees' Report 

## ACCOUNTABILITY AND GOVERNANCE 

The trustees are pleased to present their annual directors’ report together with the financial statements of the charity for the year ended 31 March 2021 which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes. 

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011, the Companies Act 2006 and 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)][(effective] | January 2015). 

Voluntary Action Merthyr Tydfil is an incorporated association and a registered charity. The current company / charity became operational on | October 2007 with assets and liabilities transferred from the old charity with the same name (registered number 1060242), 

Directors/Trustees are recruited and appointed in accordance with the articles and memorandum of association. Nominations are invited from the members of the company/charity and are elected at the AGM. The Officers are elected by the Board. 

No outside party can nominate trustees but the elected trustees may co-opt members in accordance with the constitution. 

## OBJECTIVES 

2020-2021 marked the 24th year of operation of Voluntary Action Merthyr Tydfil. 

The objectives are in accordance with the service specification for Third Sector Support Wales (TSSW) as agreed with Welsh Government. TSSW is a consortium comprised of Wales Council for Voluntary Action and the nineteen County Voluntary Councils in Wales. As such, VAMT continues to receive a contribution towards its core activities from Welsh Government via Wales Council for Voluntary Action. 

There are Core Service Standards associated with VAMT’s role as a County Voluntary Council. They are; 

## Volunteering 

Good governance 

Sustainable funding 

## Engagement and influencing 

The objectives are furthered by additional core funding from Merthyr Tydfil County Borough Council and Cwm Taf Morgannwg University Health Board. 

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## Voluntary Action Merthyr Tydfil 

## Trustees' Report 

In furtherance of both the organisations key strategic and charitable aims some projects have been developed, such as; 

Cwm Taf Morgannwg University Health Board continue to provide part funding for a Health and Well Being Facilitator role. 

The Welsh Government Integrated Care Fund (via Cwm Taf Morgannwg University Health Board) has provided continued funding for a range of projects and grants, namely: 

## Community Coordinators 

Tackling Loneliness & Isolation Development Officer 

## Cwm Taf Community Capacity Fund 

Cwm Taf Dementia Care Grant Scheme 

## Befriending Services 

Other grant funding administered by VAMT for third sector benefit 

Funding via Merthyr Tydfil County Borough Council continues to provide a Community Information & Development Officer at Calon Las Community Hub in Gurnos. 

## PUBLIC BENEFIT 

The trustees consider the charitable activities of the organisation to ensure that they provide benefit to the public. In shaping our objectives for the year and planning our activities the trustees always ensure that the programmes we undertake are in line with our main objective which is to promote all or any purposes for the benefit of the community deemed by law to be charitable and in particular the advancement of education, the furtherance of health and the relief of poverty, distress and sickness. 

The trustees confirm that they have referred to the Charity Commission’s guidance on public benefit when reviewing the aims and objectives as they have overall responsibility for implementation of the Strategic Plan and monitor and scrutinise the Operational Plan. 

## ACHIEVEMENTS AND PERFORMANCE 

## Key Performance Indicators 

All Third Sector Support Wales member organisations (including VAMT) utilise an integrated Customer Relationship Management (CRM) system which includes functionality to record and monitoring activity. What follows is a comparison across the previous two reporting periods: 

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## Voluntary Action Merthyr Tydfil 

## Trustees' Report 

|Key Performance Indicators||||2019/20|2020/21|
|---|---|---|---|---|---|
|Total<br>number<br>of<br>interactions<br>(instances<br>of<br>advice<br>ae<br>organisations/stakeholders|/|support)|with|1,792|1,415|
|Numberofvolunteers placed /supported||||223|212|
|NumberofThird Sector organisations provided with direct advice/support||||177|202|
|NumberofThird Sector organisations referred to specialist support||||4|3)|
|Amount offunding received by Third Sector organisations following support||||£234,664|£620,551|
|Amount offunding provided through grants schemes administered byVAMT|VAMT|||£483,797|£534958|
|Numberofattendees at forums and events organised byVAMT||||565|851|
|Number ofparticipants at training courses provided||||122|70|
|Total membership||||280|281|
|Recorded for the first time in 2020-21, the third sector locally also|received £515,763 of funding||||via Wales|
|CouncilforVoluntaryAction.||||||



## Summary of operational progress towards objectives in the VAMT Strategic Plan 

Strategic Aim | - Enable third sector organisations to deliver services, improve in all aspects of their work and become resilient 

With Covid-19 response priorities taking precedence, the VAMT magazine Inform was published once in the year in an electronic format. The special edition newsletter was issued in November and gave opportunity to reflect on the amazing response of local communities, voluntary groups and volunteers who had provided support throughout the pandemic. The edition received positive feedback - “Excellent edition, many thanks for this”; “Much prefer this new format” (smal! local organisations). 

In addition to the Inform newsletter 23 electronic briefings were circulated to members and other contacts throughout the year. These included information on funding, Welsh Government guidance relating to Covid, as well as local information. Feedback on these was positive “many thanks for your invaluable updates on the support available from the sector and also funding opportunities etc. We are sharing these with our contacts. Carry on the good work” (Local Councillor). 

## Social Media 

Users of the VAMT News blog increased from 1848 to 2138 during the year. There were 198 posts made (66% increase on the previous year) and 4387 page views (60% increase on the previous year). 

VAMT Twitter account has 1,997 followers. In the year there were 55,275 tweet impressions (reach), 130 new followers and 522 mentions. 

VAMT Facebook has 535 followers, 524 page likes and there were 438 posts during the year. 

Reconfiguration of the VAMT website meant disruption to the site throughout April, but data captured for the remainder of the year shows 2,138 users visited the site; 2,896 sessions and 4,387 page views. 

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## Voluntary Action Merthyr Tydfil 

## Trustees' Report 

## Key Research was undertaken by the Bevan Foundation during the year: 

An initial report funded by a Voluntary Services Emergency Fund small grant administered by VAMT which aimed to capture, build on and share community responses to Covid-19 that are working well across the borough. This will help community organisations to meet local needs and to identify and fill any gaps in provision. Enabling and supporting groups to learn and grow will help to maintain or increase voluntary services for vulnerable individuals and communities as the pandemic continues and into recovery. 

A second report, commissioned by VAMT, aimed to capture what third sector organisations felt that they would need to build services again following the pandemic, and what additional support they felt VAMT would need to provide. 

A subsequent report, funded via an ICF Small Grant administered by VAMT, sought to examine social isolation and loneliness and the impact of shielding within Merthyr Tydfil. Findings from this report led to: 

A review of befriending services which was funded as part of the Merthyr Tydfil partnership application to the Welsh Government Covid Recovery Grant for Volunteering. 

Intelligence gathered from the above has been used throughout the year to inform VAMT and also relevant partnerships such as the local Covid Steering Group, Public Services Board and Regional Partnership Board. 

Contact was maintained and developed through the year with the Lloyds Bank Foundation. Support given included practical training, bringing partners from the 6 areas together to discuss common issues and identify other ways of working. 

Two workshops were held virtually to bring key stakeholders and other organisations together and to start discussing priorities. A programme of Organisational Resilience was developed with VAMT input and piloted in Merthyr Tydfil with 9 organisations attending. 

A short film was produced showcasing the voluntary sector response to the pandemic which was used by LBF to promote the sector’s work. When the Foundation’s open grants round was relaunched, two grants of £50,000 were awarded to two local organisations. 

Governance support has been provided to a range of different organisations including: Stephens and George Charitable Trust, Twyn Community Hub, Merthyr Eyelights. 

Extensive support provided to one organisation with regard to governance issues directly caused by Covid 

Supporting a faith group wishing to establish a place of worship in the Borough 

Two groups being supported to develop Constitutions 

Two groups receiving significant support around CIO registration 

General queries on employment (new recruitment post Covid); how best to carry out community consultation during lockdown and subsequently with social distancing measures; and accessing DBS checks 

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## Voluntary Action Merthyr Tydfil 

## Trustees' Report 

13 people attended an introductory training session with regards to Lloyds Bank Foundation Organisational Resilience Programme which provides access to specialist consultants. The roll out took place in Q4 with 9 organisations benefitting from 4 sessions, with an additional session held specifically for funders to introduce the concept. 

Brokering to specialist support services: 

One group referred to Cadw and to MTCBC’s Heritage Officer for support and adaptations to a listed building 

5 groups able to access “developing strategy” workshops with Lloyds Bank Foundation 

One charity supported to develop a Covid recovery plan via Lloyds Banking Group’s employee volunteering programme. This led to the Charity Co-ordinator taking part in one of two case studies which formed part ofa promotional video for the Banking Group’s Employee Volunteering programme during Small Charities Week disseminated to 65,000 Lloyds Banking Group employees. 

Funding opportunities promoted on the VAMT blog and social media platforms included the Moondance Foundation, LBF, and a myriad of smaller emergency schemes which sprang up to assist in the response including Western Power, Co-op amongst others. 

Funding support has been provided to 58 different organisations including: 

Trinity Child and Family Centre, Gellideg Foundation Group, Good Friends, Help@Hope and others involved in the emergency response. 

Grant administration - VAMT administered a total of 167 grant awards throughout the year across a variety of funding streams (some also featured in the “Summary of VAMT response to Covid” from Page 12): 

Winter Planning - Funding allocated via the Cwm Taf Morgannwg Winter Planning Programme to help alleviate pressure points within the voluntary sector during the winter period. Two rounds of funding available: 

Round | - £31,189 awarded to 6 organisations, including Citizens Advice who purchased laptops to ensure continued service delivery whilst home working; The Parent Network who purchased sewing machines to provide classes and engage new learners/combat isolation and Twyn Community Hub who were able to provide 30 meals on wheels at reduced rates for a period of 6 weeks. 

Round 2 - £26,379 awarded to 6 organisations, including Gellideg Foundation Group who were able to purchase microwave ovens for community meal prep-aration and delivering community cooking courses; Safer Merthyr Tydfil Re-connect 50 project to purchase first aid equipment for their walking group and raised beds and tools for an allotment at Ynysfach - all needed to support cli-ents presenting with mental health issues; and Help@Hope who purchased a laptop to support their administration of their Food Pantry. 

Friend In Need Grant The aim of the funding was to support the third sector to continue to offer befriending services to those who would benefit from them, in-crease befriending capacity and recruit and train befriending volunteers. This opportunity enabled the purchase of 22 mobile phones and 9 tablets which were used by volunteers within Befriending organisations locally to maintain regular contact with their beneficiaries. VAMT continued to administer the ICF funded Community Capacity Grant Scheme for 2020-21. A multiagency panel was convened and a total of 15 grants were awarded across the Cwm Taf region. All attended a Welcome Meeting to share their project intentions, to receive advice and information on monitoring and evaluation, volunteering and financial responsibilities. 

VAMT also continued with the administration of the [CF Dementia Community Capacity Grant Scheme which introduced 8 projects for the Cwm Taf region. 

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## Voluntary Action Merthyr Tydfil 

## Trustees' Report 

In keeping with previous years VAMT administered ICF funding to retain Befriending Services within the Cwm Taf region. The providers are Royal Voluntary Service (Good Neighbour Scheme); Volunteering Matters (Welcome Friends Project); Valleys Kids (Keeping Connected with your Community) and Age Connects Morgannwg (Reaching Out Project). The services were heavily relied upon throughout the year and each project repurposed their traditional offer of support and incorporated a range of alternative methods of engagement, such as telephone befriending; digital engagement; door step visits, to meet the needs of individuals, and to comply with the changing legislative requirements of Covid. A befriending network for the Cwm Taf region will continue when restrictions are lifted and will be supported by the Tackling Loneliness & Isolation Development Officer. 

Continued to provide day to day financial support to Merthyr Tydfil Institute for the Blind and Safer Merthyr Tydfil on a formal contractual basis and payroll for Cylch Meithrin Pentrebach. 

Financial accounting support was also provided to organisations on an ad hoc basis, these included Pontsticill Community Group and Heartbeat °95. 

## Strategic Aim 2 - Strengthen representation and influence of third sector organisations 

In light of the Covid restrictions on gatherings the Health and Wellbeing Forum meetings were held virtually. 5 meetings were held throughout the year with a total of 148 participants. The June meeting was specifically set to understand how services had changed or adapted as a result of the pandemic and to understand the impact upon organisations. Presentations throughout the other meetings included DWP Kickstart; Red Cross Hardship Fund; Integrated Locality Groups within the Health Board footprint; A supportive project by Cwm Taf Morgannwg MIND focussing on suicide as well as the role and importance of the third sector within Regional Partnership Board developments. 

It was noted that meetings held virtually enabled some individuals with Wales-wide roles to participate, who would otherwise be unable to engage. 

The Environment and Green Spaces Network field trip in October was postponed. A meeting was held in February had 4 speakers and 21 members in attendance. Feedback was very positive: 

“That was great Thank You! Gave me some ideas, inspiration, connections and hope!” (Lark in the Park) 

“It was an excellent morning and the atmosphere felt very positive (Friends of Pare Nant Llwynog)” 

“The enthusiasm of groups for what they do showed so clearly. Hopefully they will be willing to come together and continue this joined up approach.” 

VAMT are engaged in the following local partnerships; some of which were disrupted by the pandemic: 

Tackling Poverty Strategic Group. 

Town Centre Partnership 

Youth Support Services Partnership 

Early Help Hub 

Merthyr Tydfil [AA / Dewis Group 

Merthyr Tydfil GP Cluster 

Gurnos Community Zone Implementation Group 

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## Voluntary Action Merthyr Tydfil 

## Trustees' Report 

Merthyr Funders Forum - Which is made up of principal funders in the Borough. It includes National Lottery Community Fund, Lloyds Bank Foundation, Office of the Police & Crime Commissioner, Merthyr Valleys Homes, Invest Local Ynysowen and MTCBC. 

VAMT represented and facilitated discussions in regional partnerships throughout the Cwm Taf, and Cwm Taf Morgannwg areas, some of which were disrupted by the pandemic: 

Public Service Board (PSB) where VAMT has a lead role for the priority around “tackling loneliness and 

isolation” 

## Transformation Leadership Partnership Board 

Regional Partnership Board and its structure of (a) Adults’ Services Board and (2) Children’s Services Board 

Social Prescribing Group 

Protect Workstream. 

## Community Zones Strategic Group 

Community Safety Partnership 

## Safeguarding Board 

Together for Mental Health (T4MH) Partnership Board 

## Dementia Action Steering Group 

Carers Strategic Partnership Board 

University Health Board Stakeholder Reference Group - VAMT maintained the role of Chair of the Group Local Action Group (RDP) 

The following meetings were stood down during the pandemic, although information continued to be shared with the membership 

## Merthyr Tydfil 50+ Forum 

The Cwm Taf Dementia Care Providers Forum 

The Cwm Taf Morgannwg Carers Providers Forum 

Strategic Aim 3 - Enhance volunteering and wellbeing through participation and community action 

212 potential volunteers were supported with at least 114 being placed into opportunities. 

Weekly outreach at the local Job Centre and Merthyr Tydfil College was suspended, although the Volunteering Officer maintained contact throughout. 

Good practice in volunteering - assistance given to 9 organisations and the offer of ongoing support to develop policies. A further 4 organisations were referred onwards for specialist support. 

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## Voluntary Action Merthyr Tydfil 

## Trustees' Report 

Promoted the Volunteering Wales website which saw 35 people from the local area register an interest in volunteering 

8 organisations attended the Cwm Taf Volunteer Managers’ Forum 

VAMT administered a Youth Led Grants programme in partnership with Safer Merthyr Tydfil and the Merthyr Tydfil Borough Wide Youth Forum (MTBWYF). A grant panel was convened and awardeda total of £5,450 to 5 organisations; namely: Pen y Dre High School; Twyn Community Hub; Treharris Boys & Girls Club; Cyfarthfa High School and MTBWYF. 

Although outreach sessions at both Merthyr Tydfil College and the Job Centre were unable to take place because of restrictions, close links were maintained with staff in both settings throughout the year, with a view to reinstating sessions as soon as practicably possible. 

Towards the end of Q3 there was an increase in organisations needing volunteers, some to help pack food parcels and support food delivery programmes, others looking for Peer Mentors and Telephone Befrienders. 

Sara Grinnell, Independent Professional Advocate, Cwm Taf Morgannwg Advocacy Service said “The Volunteer Centre has been a huge support to me and my project. I am still relatively new to the role and the Volunteering Officer has made me feel welcome during networking meetings and has been a fantastic support when it comes to referring Volunteers. Nearly everyone she has referred has gone on to volunteer with the project. It has been especially difficult to recruit during COVID but again the Volunteer Centre has been brilliant and supported the project by talking to potential volunteers about us, featuring us in the newsletter and keeping me up to date with any information” 

Volunteers Week was promoted via social media, and organisations took opportunity to thank their volunteers by posting videos/photographs on social media platforms. These were posted on a dedicated page on the VAMT website. 

As part of VAMT’s Employee Volunteering policy staff were involved in supporting: 

Merthyr Tydfil’s Children’s Reading Festival - helping pack 7200 books into individualised packs which were distributed to children and young people 

“Their time and assistance in this mammoth task was invaluable to the project and we thank them for all their help”. 

Stephen’s & George Charitable Trust to pack 3000 red bags for children across Merthyr Tydfil who were in receipt of free school meals. The packs included a colouring book, crayons and a selection box and were delivered in the lead up to Christmas 

“your help with the Christmas bags, sorting of donations made, the Secret Santa parcels and so much more in the build up to Christmas was outstanding and we would not have progressed as we did without it...” Philippa Hunt, Entitlement Officer 

Merthyr Cynon Foodbank with the distribution of food via their main Hub in the Gurnos. 

Cleide Correia, Merthyr Cynon Foodbank Project Manager said “... I'd like to say a big thank you to VAMT staff for your kindness in volunteering with us ... Your help is greatly appreciated and you made a big difference to local people in crisis in our community this Christmas! ...your help in sorting out the donations for our Christmas hampers at the main hub in Gurnos Christian Centre was invaluable! ... Volunteers are the lifeblood of our charity and we are really grateful for your ongoing support”. 

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## Voluntary Action Merthyr Tydfil 

## Trustees’ Report 

VAMT staff engaged in the distribution of books as part of World Book Day and helped with the distribution of 1000s of books across the borough. The books were hung from trees, benches, and railings to celebrate the day and were free of charge. 

The Volunteer Centre also supported the We Love Reading Merthyr Tydfil Christmas Festival, 22 schools were involved with this project allowing children to have fun creating Christmas artwork that was to be displayed in windows of various shops and business in the local area. The Volunteer Centre used their window to display just a small selection of the creative artwork designed by the children. 

VAMT and Interlink continue to employ a team of four Community Coordinators to support older people to access community services in order to maintain their independence and enhance well-being. This involves continuing to identify and raise awareness of all the support available within the community, from clubs and societies to social care, to service users, carers, patients and public service partners. VAMT employs the Merthyr Tydfil locality coordinator. 

Alongside the support provided to those shielding, the Coordinator continued to receive additional referrals from third sector, statutory organisations, and individuals. During Q1 a total of 153 referrals were received, which equates to around 60% increase on normal activity levels. A further 160 referrals were received throughout the remainder of the year. 

The Coordinator maintained regular contact with local organisations with regards to their availability to support individuals, in order that any referrals made could be actioned without delay. During Q1 a total of 84 referrals were made to third sector organisations and community groups, with a further 109 referrals being made throughout the remainder of the year. These included support for food parcels; shopping; benefit checks; prescription collection and telephone befriending. 

The Coordinator attended regular regional “Protect Workstream” meetings set up in support of the Test, Trace & Protect programme, and provided information on local intelligence. Meetings were weekly initially, tapering to fortnightly by the end of the year. 

12 monthly bulletins were produced and sent via email to over 800 recipients. Due to Covid-19 and localised lockdowns, the bulletin was reviewed and re-developed focusing instead on online activities and support. Information was also shared via Social Media 

Calon Las Community Hub - VAMT entered into a new Service Agreement via Merthyr Tydfil County Borough Council for the provision of a Community Zone Information & Development Officer, who: 

Provided direct support for community members with queries such as utility bills/direct debits; warm homes discount scheme; British Gas pre-payment card issues; Covid-19 tests; services such as Samaritans; 

Developed social media presence and used Calon Las Facebook Page as a means of disseminating information throughout the community; 495 followers. 

Supported Calon Las Cupcakes Baking Group, St Aloysius Senior Citizens Group and Calon Las Coffee Morning Group to apply for CTM MIND Side by Side Peer Support grants - all 3 were successful and received £250 each towards their activities. 

Worked in Partnership with Merthyr Valleys Homes to apply for ICF grant funding to provide Wellbeing/ Activity Packs to elderly people within the community during Covid 19 - £500 awarded. A total of 106 Wellbeing/Activity packs sourced, prepared and delivered. A further £500 was awarded to provide 106 Wellbeing/ Activity Packs to young people within the community. 

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## Voluntary Action Merthyr Tydfil 

## Trustees' Report 

## Awarded £200 from Greggs which supported holiday hunger/play-related initiatives 

Supported “We Love Merthyr Children’s Reading Festival” by delivering 70 packs comprising of 3 books per pack to families within the Gurnos area 

Worked in partnership with MVH Youth Project and The Parent Network on Christmas-related initiatives including an artwork competition - Feedback from Competition winners: “The kids are so happy, thank you”; “So lovely, Louise is over the moon”; “The art set is a God send, she's drawing night and day” 

Maintained contact with groups and organisations interested in utilising Calon Las as a venue for meetings/outreach services; fielding enquiries and providing information and advice as appropriate to needs. The Tackling Loneliness and Isolation Project continued to be funded via ICF. Planned developments were curtailed by the ongoing restrictions due to the pandemic. However, the Development Officer: 

Volunteered for local community groups in RCT, picking up and delivering prescriptions to individuals who were shielding or without support family/friends. 

Worked with Wales & West Housing and trial a project for residents at Ty Dewi Sheltered Housing Complex. Provided 15 mindfulness and wellbeing packs to support residents unable to go out during lockdown. 

Provided an introduction to indoor curling session for Dowlais Men’s Sheds. Refer 4 individuals to the group who had maintained an outside space with planting and raised beds areas during the lockdown. 

Supported a pumpkin carving and pumpkin soup project which was set up with members of the Invest Local Ynysowen Steering Group. Over 150 pumpkins given out to community members from Aberfan, Merthyr Vale and Ynysowen. 

Researched online healthy eating recipes and smoothies recipes which were shared with Invest Local Ynysowen in preparation for a “Come Dine with Us” event. 

Collaborated with Health Board colleagues and acquired pin badges displaying the “distance aware symbol”, designed to be worn by anyone who had been shielding as they reintegrate into community life. Over 1000 badges sourced and redistributed to third sector organisations (eg, Red Cross, Age Connects Morgannwg and Friends of Treorchy Community), and community members directly 

Referred 3 community members to the Community Coordinator for specific support services including mental health, budgeting and shopping support. 

Consulted with partners on the potential to provide residents with wellbeing and mindfulness packs. Following agreement the Development Officer sourced the pack contents; prepared the packs and distributed 250 of them throughout the communities of Rhondda Cynon Taf. 

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## Voluntary Action Merthyr Tydfil 

## Trustees' Report 

## Summary of VAMT response to Covid 

VAMT staff continued to work from home throughout the year and repurposed their work plans to facilitate a Covid-19 response to meet the needs of the local community, members and partners. 

## VAMT participated in and co-facilitated the following groups: 

a Covid Voluntary/Community Operational Group. The meeting was chaired by MTCBC and involved larger community support groups who came together on 8 occasions (total 63 attendees) to discuss practical issues relating to service delivery during the pandemic. 

a Covid Voluntary / Community Strategic Group was established which met 11 times (total 88 attendees) and involved the 3 Registered Social Landlords locally. 

## The above groups then merged to form the: 

Third Sector/MTCBC Covid Response Steering Group which went on to meet 24 times throughout the year (total 226 attendees) and to ensure that the Borough had a cohesive support network for delivering a range of services and support to local residents. 

A help and support services spreadsheet, set up in March 2020 continued to be maintained. It detailed offers of help and support from third sector and local organisations and was made available via the VAMT website. This continued to develop with 88 different offers of help and support, from shopping and prescription collections, food distribution, telephone support - even dog walking. This was used extensively by all agencies across the borough to find third sector support for their clients, tenants and general enquirers. 

VAMT developed a model of assistance for Local Authority colleagues responsible for supporting individuals identified by Welsh Government as needing to shield during the pandemic. A process was implemented whereby the local authority undertook an initial conversation with individuals to establish their needs around the Welsh Government emergency food box. If the individual had any other support needs, then MTCBC passed the details on to the Community Coordinator at VAMT who was able to facilitate third sector responses without delay. 

Contact was made with every individual who needed immediate support for either shopping / prescription collections / food parcels or telephone befriending. 

“As Covid-19 hit the community of Merthyr Tydfil, the Stephen’s and George Charitable Trust were contacted by the Community Coordinator. Every day we would receive an email containing a concise list of clients contact details that required a food parcel as they were shielding. The list was always accurate and detailed. The community members knew we were going to call to support them...Together we impacted households across Merthyr Tydfil and this work started the catalyst of support and local councillors got involved to deliver parcels to the people who were shielding in their areas” - Helen Hughes (Stephens and George Charitable Trust) 

In order to support community members to self-isolate safely, a helpline was established as part of the Protect Worksteam. A referral route was agreed and any residents from Merthyr Tydfil who required support were referred to the Community Coordinator. 

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## Voluntary Action Merthyr Tydfil 

## Trustees' Report 

During the second lockdown, additional funding was provided via the Protect Workstream to offer enhanced food parcels to residents who had tested positive for Covid-19 or who had been contacted by TTP and advised to self-isolate. This elevated offer of support was to enable individuals / families to safely self-isolate. 31 families consisting of 107 individuals were supported with enhanced food parcels that provided them with 10 days’ worth of food. 

A range of new funding opportunities relating to Covid became available during the year and as a result VAMT administered many more schemes than in previous years, as a result: 

Covid 19 Small Grants of up to £500 were made available from ICF funding to support any new or existing formal/informal community group or organisation operating in Merthyr Tydfil/RCT. The grants were to support efforts and responses around Covid 19. VAMT administered on behalf of the region, ensuring monitoring and evaluation was undertaken. 

51 grant awards were made across the Cwm Taf region. Feedback included: 

“I would like to thank staff at both Cylch Meithrin Aberdar & Cylch Meithrin Seren Fach for all of their support during these difficult few weeks. Both of my children have thoroughly enjoyed attending & all of the amazing activities they have been involved in, I cant thank you enough”. 

“Tn partnership with the Foodbank it has been clear that our roles within the community have become vital to so many in need from all backgrounds. Whilst this crisis has created so much misery, delivering much needed Food parcels to the community has helped develop community spirit between all those involved. We thank you for helping us to provide this service”. 

“Thank you for the grant it enabled us to purchase resources at a difficult time both operationally and financially, it was very much appreciated”. 

“The funding supported us at a critical time as our charity income had stopped completely. It really made a difference, even though it was a small amount, it made a huge difference. Without it we are not sure we would have gone on to gain other grants and be able to support all the families we have done over the past 14 weeks. The process was simple and with a very quick turnaround of funds, which we are grateful for”. 

The Comic Relief Emergency Fund - for maintaining or increasing voluntary services for vulnerable individuals and communities affected by the Coronavirus (Covid-19) pandemic. 

VAMT administered £26,591 and 14 organisations received funding, including Vaynor Community Group; Gurnos Mens Project and Central Beacons Mountain Rescue 

Covid 19 Transformation Funding - VAMT was asked to administer this funding made available via the Cwm Taf Morgannwg Transformation Programme Board. It focussed on supporting vulnerable individuals and communities affected by the Covid-19 pandemic and covered small capital or revenue expenditure. 

VAMT allocated £15,000 to 11 organisations including Llamau; People First and Treharris Phoenix RFC. 

## Voluntary Sector Emergency Fund (VSEF) 

The purpose of the Voluntary Services Emergency Fund (VSEF) is to enable those providing vital support to groups affected by Covid-19, such as: people in isolation, the elderly, carers, people struggling to access food etc. so that they can be support-ed during this time. 

Two tranches of money received with the full allocation of £49,997 issued. 

Page 12 



## Voluntary Action Merthyr Tydfil 

## Trustees' Report 

## 24 grant awards made, including Bevan Foundation; Llamau and Homestart. 

## Self Isolation Grants 

With Public Health Prevention Funding, a small grants scheme was established in order for third-sector organisations to provide support to those people identified as requiring to self-isolate, across Merthyr Tydfil. It is expected that small grants will be utilised for food, household and/or hygiene products, activity packs which may help alleviate isolation, etc. and will be tailored to individual circumstances. The grants will also allow organisations to increase their own capacity to undertake the necessary preparation by allowing for additional expenses incurred due to increased volunteer requirements or staff time. 

VAMT administered £36,000 to 14 organisations, including Quakers Yard Community Association; Treharris Boys & Girls Club and SNAP Cymru 

## Self Isolation Support Grants from Merthyr Tydfil County Borough Council 

As part of the Protect element of TTP (Test, Trace, Protect) to encourage safe behaviours around self-isolating, this funding was made available to cover the cost of food parcels with up to 10 days’ worth of food. This funding was specifically for people who had been advised to self-isolate due to either a positive Covid-19 test result or as a contact of a positive case. 

32 families with 109 family members were supported with the delivery of food parcels and essential items by Gellideg Foundation Group, Twyn Action Group and Stephens & George Charitable Trust. 

Coronavirus Recovery Grant for Volunteering : Funding via Welsh Government. VAMT submitted an application in partnership with Merthyr Tydfil County Borough Council; Cwm Taf Morgannwg Regional Commissioning Unit; Cwm Taf Public Service Board and Tydfil Training Consortium. The proposal was to introduce a collabo-rative programme of support across Merthyr Tydfil which focusses on sustainability, standardisation and safeguarding. The application was successful and brought forward in excess of £111,000 to the Borough. VAMT administered the funding which supported 22 organisations, and their volunteers, throughout the Borough, including Merthyr Performance Company; Pontsticill Community Association and Merthyr Cynon Foodbank. 

The Volunteering Officer worked closely with a number of organisations throughout the year, almost all of whom actively recruited volunteers during the pandemic. The support included providing advice and information on ensuring safe practices for volunteers supporting services during Covid. 

Helen McShea, Reconnect Project Coordinator said “ ...we are grateful for all the help from the Volunteering Officer at VAMT, who we have built a strong working partnership with for the support to our project, the experience in sending the appropriate volunteers to us has helped us immensely to maintain a core of volunteers and keep the project functioning .... The pandemic has affected all of us including staff and volunteers so the Volunteer Centre’s determined focus to continue to support us has been invaluable”. 

The pandemic highlighted the significant level of food poverty and the requirements of food distribution locally. With more groups engaging in the Merthyr Tydfil Food Poverty Network it rebadged itself as the Merthyr Tydfil Food Prosperity Network to avoid negative connotations. The Network met on 3 occasions to progress developments around food pantry/community fridge collaborations. In Q4 VAMT were approached by Feeding Britain who expressed interest in the food initiatives in Merthyr Tydfil, and in working with them under the Feeding Britain umbrella - This would be the first Feeding Britain collaboration in Wales. VAMT and Interlink organised an event in November 2020 to discuss and explore any learning from Covid 19 in relation to tackling loneliness and isolation, and to see how this might be used to influence new developments. 39 people attended the session which included presentation from Bevan Foundation regarding their research within the Borough. Information was subsequently presented to the Public Services Board where VAMT has the co-lead for the priority around Tackling Loneliness & Isolation. 

Page 13 



## Voluntary Action Merthyr Tydfil 

## Trustees' Report 

Towards the end of the year VAMT were approached by Cwm Taf Morgannwg Public Health Team to host a new role to support the local Black Asian Minority Ethnic (BAME) community. The key aim of the role is to influence Covid-19 safe behaviours in local BAME communities by ensuring the messaging is appropriate and culturally sensitive, encouraging adherence to guidance and encouraging uptake of testing and vaccina-tions. This 8 month opportunity is to be replicated across both Interlink and BAVO for consistency across the health board region. 

## PLANS FOR FUTURE PERIODS 

## Priorities include; 

Supporting the emergency Covid response and supporting organisations in the transition and recovery period 

Increasing organisational development support for local organisations 

Providing information, advice and support to people wishing to volunteer Continuing to represent the sector at all levels of public partnerships 

Actively supporting the consultation/engagement process to establish ongoing needs which influence the ongoing implementation of the Social Services and Well Being Act. Particular emphasis will be placed on the reliance on community support and the need for its continued development and investment 

Continued collaboration with Interlink RCT and BAVO (Bridgend Association of Voluntary Organisations) concerning regional partnerships and joint service delivery on the new Cwm Taf Morgannwg regional footprint 

Actively supporting the consultation/engagement process to inform an updated Cwm Taf Well Being Plan. Particular emphasis will be placed on initiatives to tackle loneliness and isolation and developments of volunteering 

Fully engaging in Integrated Care Fund projects including the Community Coordinators, third sector grants schemes and others, and in any reviews which relate to the funding of these projects 

## Supporting the Calon Las Community Hub (Gurnos) 

Continue to collaborate with MTCBC colleagues on a range of projects including revising the local Compact Agreement 

Secure the Voluntary Action Centre premises for the longer term 

Introduce a BAME Engagement Officer to support community members 

## FINANCIAL REVIEW 

## Principal Funding Sources 

The organisation derives its funding from a variety of sources. The principal sources are derived from the Welsh Government, Merthyr Tydfil County Borough Council and Cwm Taf University Morgannwg Health Board. 

## Reserves Policy and Going Concern 

The overall surplus for the year amounts to £271,960. 

It is the Charity's policy that free reserves should be sufficient to allow the ongong operation of the Charity in the event of an unexpected fall in funding. At 31 March 2021 free reserves amounted to £514,543 (2020 £322,674) 

Page 14 



## Voluntary Action Merthyr Tydfil 

## Trustees' Report 

The Trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity. 

The trustees of the charity regularly review and update the charities Risk Register which has a specific section on financial risk. 

## Pay Policy for Senior Staff 

VAMT has an organisational policy which relates job roles to job groupings and an associated pay scale. Senior staff are incorporated in that policy. The spinal column points on the pay scales relate to the nationally agreed local government NJC scales (based on the rates as of Ist April 2017). 

## Reference and Administrative Details 

|Trustees|S E Davies|
|---|---|
||E J Dawson, Chair from 30/11/2020 (resigned 20 May 2021)|
||P Gray, Treasurer|
||MJA<br>Jones|
||B Lewis|
||N B Mahoney|
||K A Nor-Val|
||A Roberts, Chair until 30/11/2020|
||M Ronan|
||H O Thomas (resigned 28 September 2020)|
||M Ward|
|Secretary|Mrs S Richards, ChiefOfficer|
|Principal Office|89 -90 High Street|
||Merthyr Tydfil|
||MidGlamorgan|
||CF47 8UH|
|Company Registration Number|06058360|
|Charity Registration Number|1118403|
|Bankers|HSBC Bank Plc|
||Merthyr Tydfil Branch|
||127/128 High Street|
||Merthyr Tydfil|
||Mid Glamorgan|
||CF47 8DN|
|Auditor|Mitchell Meredith Limited|
||St Davids House|
||48 Free Street|
||Brecon|
||Powys|
||LD37BN|



Page 15 



## Voluntary Action Merthyr Tydfil 

## Trustees' Report 

## Statement of Trustees' Responsibilities 

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

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the trustees are required to: 

- ¢ select suitable accounting policies and 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 have been followed, subject to any material departures disclosed and explained in the financial statements; and 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. 

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable 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 corporate 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 jurisdictions. 

## Disclosure of information to auditor 

Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware. 

## Small companies provision statement 

This report has been prepared in accordance with the small companies regime under the Companies Act 2006. 

The “ti, was approved by the trustees ofthe charity on 25 October2021 and signed on its behalf by: P Gray Trustee 

Page 16 



## Voluntary Action Merthyr Tydfil 

## Independent Auditor's Report to the Members of Voluntary Action Merthyr Tydfil 

## Opinion 

We have audited the financial statements of Voluntary Action Merthyr Tydfil (the 'charity') for the year ended 31 March 2021, which comprise the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United Kingdom Generally Accepted Accounting Practice). 

## In our opinion the financial statements: 

- give a true and fair view of the state of the charity's affairs as at 31 March 2021 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; 

- « have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- « have been prepared in accordance with the requirements of the Companies Act 2006. 

## Basis for opinion 

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

## Conclusions relating to going concern 

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

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

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

## Other information 

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. 

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. 

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material mistatement in the financial statemenst themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. 

Page 17 



## Voluntary Action Merthyr Tydfil 

## Independent Auditor's Report to the Members of Voluntary Action Merthyr Tydfil 

## Matters on which we are required to report by exception 

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion: 

- the information given in the financial statements is inconsistent in any material respect with the financial statements; or 

- « sufficient accounting records have not been kept; or 

- ¢ the financial statements are not in agreement with the accounting records; or 

- we have not received all the information and explanations we require for our audit. 

## Responsibilities of trustees 

As explained more fully in the Statement of Trustees' Responsibilities (set out on page 16), the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

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

Auditor’s responsibilities for the audit of the financial statements 

We have been appointed as auditors under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. 

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

A further description of our responsibilities is available on the Financial Reporting Council's website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report. 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. 

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud. 

Page 18 



## Voluntary Action Merthyr Tydfil 

## Independent Auditor's Report to the Members of Voluntary Action Merthyr Tydfil 

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: 

- ¢ Enquiry of management and those charged with governance around actual and potential litigation and claims as well as actual, suspected and alleged fraud; 

- ¢ Reviewing minutes of meetings of those charged with governance; 

- « Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the entity through enquiry and inspection; 

- ¢ Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations; 

- ¢ Performing audit work over the risk of management bias and override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias. 

There are inherent limitations in our audit procedures as described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustee and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. 

## Use of our report 

This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its trustees as a body, for our audit work, for this report, or for the opinions we have formed. 

M L Barnes FCCA ACA (Senior Statutory Auditor) For and on behalfof Mitchell Meredith Limited, Statutory Auditor 

St Davids House 

48 Free Street Brecon Powys LD3 7BN 

16 November 2021 

Page 19 



## Voluntary Action Merthyr Tydfil 

Statement of Financial Activities for the Year Ended 31 March 2021 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) 

|||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|
|||funds|funds|2021|2020|
||Note|£|£|£|t|
|Income and Endowments from:||||||
|Charitable activities|4|316,158|816,489|1,132,647|1,067,587|
|Other activities|5|75,054|-|75,054|73,709|
|Investment income|6|2,484|a|2,484|1,104|
|Other income|7|2,661|-|2,661|6,127|
|Total income||396,357|816,489|1,212,846|1,148,527|
|Expenditure on:||||||
|Charitable activities|8|(325,424)|(629,242)|(954,666)|(1,075,442)|
|Total expenditure||(325,424)|(629,242)|(954,666)|(1,075,442)|
|Gains/losses on investment||||||
|assets||13,780|-|13,780|(8,373)|
|Net income||84,713|187,247|271,960|64,712|
|Transfers between funds||69,587|(69,587)|-|-|
|Net movement in funds||154,300|117,660|271,960|64,712|
|Reconciliation offunds||||||
|Total funds brought forward||446,512|86,975|§33,487|468,775|
|Totalfundscarriedforward|19|600,812|204,635|805,447|533,487|



All of the charity's activities derive from continuing operations during the above two periods. 

Page 20 



## Voluntary Action Merthyr Tydfil 

## (Registration number: 06058360) Balance Sheet as at 31 March 2021 

|||2021|2020|
|---|---|---|---|
||Note|£|£|
|Fixed assets||||
|Tangible assets|14|86,269|123,838|
|Investments|15|80,407|66,627|
|||166,676|190,465|
|Current assets||||
|Debtors|16|122,931|192,685|
|Cash atbank and in hand||565,835|339,144|
|||688,766|531,829|
|Creditors: Amounts falling due within one year|17|(49,995)|(188,807)|
|Net current assets||638,771|343,022|
|Net assets||805,447|533,487|
|Funds ofthe charity:||||
|Restricted income funds||||
|Restricted funds|19|204,635|86,975|
|Unrestricted income funds||||
|Unrestricted funds||600,812|446,512|
|Totalfunds|19|805,447|533,487|



The financial statements on pages 20 to 37 were approved by the trustees, and authorised for issue on 25 October 202] and signed on their behalf by: 


**----- Start of picture text -----**<br>
Trustee<br>**----- End of picture text -----**<br>


Page 21 



| 

## Voluntary Action Merthyr Tydfil 

## Statement of Cash Flows for the Year Ended 31 March 2021 

|||2021|2020|
|---|---|---|---|
||Note|z|£|
|Cash flows from operating activities||||
|Net cash income||271,960|64,712|
|Adjustments to cash flows from non-cash items||||
|Depreciation||37,569|36,472|
|Investment income|6|(2,484)|(1,104)|
|Revaluation ofinvestments||(13,780)|8,373|
|||293,265|108,453|
|Working capital adjustments||||
|Decrease/(increase) in debtors|16|69,754|(87,476)|
|(Decrease)/increase in creditors|17|(138,812)|34,205|
|Net cash flows from operating activities||224,207|55,182|
|Cash flows from investing activities||||
|Interest receivable and similar income|6|2,484|1,104|
|Purchaseoftangible fixed assets|14|-|(11,376)|
|Purchase ofinvestments|15|-|(75,000)|
|Net cash flows from investing activities||2,484|(85,272)|
|Net increase/(decrease) in cash and cash equivalents||226,691|(30,090)|
|Cash and cash equivalents at | April||339,144|369,234|
|Cashandcashequivalentsat31March||565,835|339,144|



All of the cash flows are derived from continuing operations during the above two periods. 

Page 22 



## Voluntary Action Merthyr Tydfil 

## Notes to the Financial Statements for the Year Ended 31 March 2021 

## 1 Charity status 

The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. 

The address of its registered office is: 89 -90 High Street Merthyr Tydfil Mid Glamorgan CF47 8UH 

These financial statements were authorised for issue by the trustees on 25 October 2021. 

## 2 Accounting policies 

## Summary of significant accounting policies and key accounting estimates 

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. 

## Statement of compliance 

The financial statements have been prepared in accordance with 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) (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011. 

## Basis of preparation 

Voluntary Action Merthyr Tydfil meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. 

## Going concern 

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity. 

## Income and endowments 

## Investment income 

Dividends are recognised once the dividend has been paid. 

Page 23 



## Voluntary Action Merthyr Tydfil 

## Notes to the Financial Statements for the Year Ended 31 March 2021 

## Expenditure 

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs. 

## Charitable activities 

Charitable expenditure comprises those costs incurred 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 necessary to support them. 

## Grant provisions 

Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty about either the timing of the grant or the amount of grant payable. 

## Support costs 

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage. 

## Governance costs 

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees’s meetings and reimbursed expenses. 

## Government grants 

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income. 

## Taxation 

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. 

## Tangible fixed assets 

Individual fixed assets costing £500.00 or more are initially recorded at cost. 

## Depreciation and amortisation 

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows: 

Page 24 



## Voluntary Action Merthyr Tydfil 

## Notes to the Financial Statements for the Year Ended 31 March 2021 

## Asset class 

## Freehold property 

Land Leasehold property 

## Office equipment 

## Depreciation method and rate 

2% straight line Not depreciated Over the remaining term of the lease 25% straight line 

## Fixed asset investments 

Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of[disposal.] 

Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end. 

## Trade debtors 

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. 

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables. 

## Cash and cash equivalents 

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. 

## Trade creditors 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities. 

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. 

Page 25 



## Voluntary Action Merthyr Tydfil 

## Notes to the Financial Statements for the Year Ended 31 March 2021 

## Borrowings 

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borrowing. 

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. 

Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. 

## Fund structure 

Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity. 

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. 

## Pensions and other post retirement obligations 

The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. 

Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment. 

## 3 Grants 

|||||Unrestricted||Restricted||Total Funds|Total Funds|
|---|---|---|---|---|---|---|---|---|---|
|||||Funds||Funds||2021|2020|
|||||£||£||£|£|
|WG Infrastructure Partnership Agreement||||270,027|||-|270,027|156,318|
|Cwm TafUniversity Health Board||||21,131|||-|21,131|20,718|
|Merthyr Tydfil CBC - Core Grant||||25,000|||-|25,000|25,000|
|WG Comic Relief|||||-|26,591||26,591|145,000|
|Cwm TafHealth Board - ICF Grants|||||-|553,449||553,449|681,647|
|Gwirvol User Led Grant|||||-|6,650||6,650|12,650|
|MTCBC Community Zone|||||-|31,959||31,959|26,254|
|Public<br>Health<br>Prevention<br>Isolation Flexible Support|Funding|for|Self|”||a a||aa coed|”|
|WG COVID Grants||||-||161,840||161,840|.|
|||||316,158||816,489||1,132,647|1,068,587|



Page 26 



## Voluntary Action Merthyr Tydfil 

## Notes to the Financial Statements for the Year Ended 31 March 2021 

## 4 Income from charitable activities 


**----- Start of picture text -----**<br>
Unrestricted<br>funds<br>Restricted Total Total<br>General funds 2021 2020<br>£ £ £ £<br>Grants and contracts 316,158 816,489 1,132,647 1,067,587<br>5 Income from other activities<br>Unrestricted<br>funds<br>Total Total<br>General 2021 2020<br>£ £ £<br>Other activities 22.167 22,167 15,727<br>Property rental income 52,887 52,887 57,982<br>75,054 75,054 73,709<br>6 Investment income<br>Unrestricted<br>funds<br>Total Total<br>General 2021 2020<br>£ £ 3<br>Interest receivable on bank deposits 2,484 2,484 1,104<br>7 Other income<br>Unrestricted<br>funds<br>Total Total<br>General 2021 2020<br>£ £ £<br>Miscellaneous Income 2.661 2.661 6.127<br>**----- End of picture text -----**<br>


Page 27 



## Voluntary Action Merthyr Tydfil 

Notes to the Financial Statements for the Year Ended 31 March 2021 

## 8 Expenditure on charitable activities 

|||Unrestricted||||
|---|---|---|---|---|---|
|||funds||||
||||||(As restated)|
||||Restricted|Total|Total|
|||General|funds|2021|2020|
||Note|£|£|3|z|
|Grants payable||19,821|474,628|494,449|596,070|
|Staffcosts||167,103|124,024|291,127|319,905|
|Allocated support costs|9|120,250|28,690|148,940|141,139|
|Governance costs|9|18,250|1,900|20,150|18,328|
|||325,424|629,242|954,666|1,075,442|



Page 28 



## Voluntary Action Merthyr Tydfil 

## Notes to the Financial Statements for the Year Ended 31 March 2021 

## 9 Analysis of governance and support costs 

|Support costs allocated to charitable|Support costs allocated to charitable|activities||||
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total|Total|
||Basis of|funds|funds|2021|2020|
||allocation|£|£|£|£|
|Premises expenses|Direct|29,992|10,369|40,361|26,216|
|Cleaning and repairs|—Direct|21,821|=|21,821|21753|
|Subscriptions|Direct|373|-|373|363|
|Advertising and||||||
|publications|Direct|778|1,047|1,825|5,329|
|Insurance|Direct|2,719|1,906|4,625|4,264|
|Bank Charges|Direct|120|-|120|328|
|Development costs|Direct|1,955|1,961|3,216|3,759|
|Office costs|Direct|6,828|2,724|9.552|15,565|
|Computer expenses|Direct|11,030|8,429|19,459|15,189|
|Motor and travel|Direct|656|979|1,635|5,857|
|Recruitment& training|Direct|798|-|798|1,212|
|Volunteer Expenses|Direct|-|.|a|44|
|Legal and professional|Direct|3,497|1,275|4,772|2,339|
|Other costs|Direct|2,810|-|2,810|2,449|
|Depreciation|Direct|31573|-|31573|36,472|
|||120,250|28,690|148,940|141,139|



Page 29 



## Voluntary Action Merthyr Tydfil 

## Notes to the Financial Statements for the Year Ended 31 March 2021 

## Governance costs 


**----- Start of picture text -----**<br>
||||||||||
|---|---|---|---|---|---|---|---|---|
|Unrestricted|
|funds|
|Restricted|Total|Total|
|General|funds|2021|2020|
|£|£|£|£|
|Staff costs|
|Wages|and|salaries|13,500|-|13,500|13,205|
|Audit|fees|
|Audit|of|the|financial|statements|4,750|-|4,750|4,750|
|Other|governance|costs|-|1,900|1,900|313|
|18,250|1,900|20,150|18,328|
|10|Net|incoming/outgoing|resources|
|Net|incoming|resources|for|the|year|include:|
|2021|2020|
|£|=|
|Audit|fees|4,750|4,750|
|Depreciation|of fixed|assets|375573|36,472|

**----- End of picture text -----**<br>


Net incoming resources for the year include: 

## 11 Trustees remuneration and expenses 

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. 

## 12 Staff costs 

The aggregate payroll costs were as follows: 


**----- Start of picture text -----**<br>
||||||
|---|---|---|---|---|
|2021|2020|
|£|£|
|Staff costs|during|the|year|were:|
|Wages|and|salaries|259,126|280,253|
|Social|security|costs|21,293|24,221|
|Pension|costs|24,208|28,636|
|304,627|333,110|

**----- End of picture text -----**<br>


Page 30 



## Voluntary Action Merthyr Tydfil 

## Notes to the Financial Statements for the Year Ended 31 March 2021 

The monthly average number of persons (including senior management team) employed by the charity during the year expressed as full time equivalents was as follows: 

|||2021||2020||
|---|---|---|---|---|---|
|||No||No||
|Total|employees||9||10|



No employee received emoluments of more than £60,000 during the year. 

The total employee benefits of the key management personnel of the charity were £87,384 (2020 - £93,414). 

## 13 Auditors’ remuneration 

|||2021|2020|
|---|---|---|---|
|||£|£|
|Audit ofthe financial statements||4,750|4,750|
|14 Tangible fixed assets||||
||Land and|Furniture and||
||buildings|equipment|Total|
||£|£|£|
|Cost||||
|At<br>| April 2020|515,412|109,158|624,570|
|At 31 March 2021|515,412|109,158|624,570|
|Depreciation||||
|At 1 April 2020|410,796|89,936|500,732|
|Charge for the year|30,570|6,999|37,569|
|At 31 March 2021|441,366|96,935|538,301|
|Net book value||||
|At 31 March 2021|74,046|12,223|86,269|
|At31March2020|104,616|19,222|123,838|



Included within the net book value of land and buildings above is £71,604 (2020 - £72,864) in respect of freehold land and buildings and £2,442 (2020 - £31,752) in respect of leaseholds. 

Page 31 



## Voluntary Action Merthyr Tydfil 

## Notes to the Financial Statements for the Year Ended 31 March 2021 

## 15 Fixed asset investments 

||Listed||
|---|---|---|
||investments|Total|
||£|£|
|Cost or Valuation|||
|At<br>| April 2020|66,627|66,627|
|Revaluation|13,780|13,780|
|At 31 March 2021|80,407|80,407|
|Net book value|||
|At 31 March 2021|80,407|80,407|
|At 31 March 2020|66,627|66,627|
|16 Debtors|||
||2021|2020|
||£|£|
|Trade debtors|25,798|16,814|
|Prepayments|6,706|1,278|
|Other taxes and social security|1,974|-|
|Other debtors|88,453|174,593|
||122,931|192,685|
|17 Creditors: amounts falling due within one year|||
||2021|2020|
||£|£|
|Trade creditors|10,208|3,495|
|Other taxation and social security|“|6,439|
|Other creditors|24,840|163,590|
|Accruals|14,947|15,283|
||49,995|188,807|



## 18 Pension and other schemes 

## Defined contribution pension scheme 

The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £24,208 (2020 - £28,636). 

Page 32 



## Voluntary Action Merthyr Tydfil 

## Notes to the Financial Statements for the Year Ended 31 March 2021 

## 19 Funds 

|||||||Balance|
|---|---|---|---|---|---|---|
||Balance||||Other|at 31|
||atl April|Incoming|Resources||recognised|March|
||2020|resources|expended|Transfers|gains/(losses)|2021|
||£|£|£|£|£|£|
|Unrestricted funds|||||||
|General|||||||
|General|446,512|396,357|(325,424)|69,587|13,780|600,812|
|Restricted funds|||||||
|Building Strong Bridges|=|41,720|(38,681)|(3,039)|-|s|
|Gwirvol user-led grants|-|6,650|(5,450)|(1,200)|-|“|
|World Mental Health Day|182|-|-|-|-|182|
|ICF Befriending Services|33,544|150,000|(130,740)|(2,720)|-|50,084|
|Community Capacity Grant|||||||
|Scheme|8,340|60,000|(38,443)|(8,557)|-|21,340|
|ICF - Dementia|24,134|45,000|(27,662)|-|-|41,472|
|Community Zone|3,431|31,959|(28,975)|(2,779)|-|3,636|
|ICF -VAMT StaffFund|-|66,864|(54,940)|(11,924)|-||
|WCVA Comic Relief|-|26,591|(26,591)|-|-|“|
|Loneliness and Isolation|=|51,110|(30,335)|(20,775)|-|-|
|ICF - Capital Grants|17,344|-|(8,563)|-|-|8,781|
|Friend In Need|-|13,000|(10,071)|(2,929)|-|-|
|Self Isolation|-|10,000|(1,220)|-|-|8,780|
|Interlink COVID|-|13,000|-|-|-|13,000|
|Cwm TafSelf Isolation|-|36,000|(32,400)|(3,600)|-|-|
|BAME|-|30,000|(246)|-|-|29,754|
|Winter Slippage|-|57,199|(57,339)|(416)|-|-|
|COVID 19 Transformation|2|15,000|(13,520)|(1,480)|-||
|Emergency Fund|x|49,997|(25,000)|-|-|24,997|
|CRY Grant|-|111,843|(99,066)|(10,168)|-|2,609|
|Total restricted funds|86,975|$16,489|(629,242)|(69,587)|-|204,635|
|Totalfunds|533,487|—:1,212,846|(954,666)|-|13,780|805,447|



Page 33 



## Voluntary Action Merthyr Tydfil 

## Notes to the Financial Statements for the Year Ended 31 March 2021 

||Balance|at||||Other|Balance|at|
|---|---|---|---|---|---|---|---|---|
||1 April||Incoming|Resources||recognised|31 March||
||2019||resources|expended|Transfers|gains/(losses)|2020||
||£||£|£|£|£|£||
|Unrestricted funds|||||||||
|General|||||||||
|General|426,951||282,976|(291,256)|36,214|(8,373)|446,512||
|Restricted funds|||||||||
|Building Strong|||||||||
|Bridges||-|37,080|(41,605)|4,525|-||-|
|Gwirvol user-led|||||||||
|grants||-|12,650|(9,760)|(2,890)|-||=|
|World Mental Health|||||||||
|Day|182||-|-|-|-|182||
|Intermediate Care|||||||||
|Fund - Staff||-|145,850|(145,850)|-|e||e|
|Care Home|||||||||
|Education|2,490||-|(2,490)|-|-||.|
|ICF Befriending|||||||||
|Services|16,849||160,000|(143,305)|-|-|33,544||
|Community|||||||||
|Capacity Grant|||||||||
|Scheme|385||60,000|(52,045)|-|-|8,340||
|ICF - Carers Grant|11,705||-|(3,000)|(8,705)|-||-|
|ICF - Dementia|3,634||62,000|(41,500)|-|-|24,134||
|Community Zone|6,579||26,254|(26,748)|(2,654)|-|3,431||
|ICF - VAMT Staff|||||||||
|Fund||-|102,798|(96,733)|(6,065)|-||~|
|WCVA Comic|||||||||
|Relief||-|145,000|(145,000)|-|-||-|
|Loneliness and|||||||||
|Isolation||-|42,906|(22,481)|(20,425)|-||-|
|ICF - Capital Grants||-|71,013|(53,669)|-|-|17,344||
|Total restricted funds|41,824||865,551|(784,186)|(36,214)|-|86,975||
|Totalfunds|468,775||1,148,527|(1,075,442)|-|(8,373)|533,487||



Page 34 



## Voluntary Action Merthyr Tydfil 

## Notes to the Financial Statements for the Year Ended 31 March 2021 

The specific purposes for which the funds are to be applied are as follows: 

theBuildingNHS. Strong Bridges - Part ofa national project to improve the relationship between the voluntary sector and 

## Gwirvol User-Led Grants - Grants given to all CVC's to encourage youth led projects. 

World Mental Health Day - The fund is made up of income from sponsership and fundraising events which will fund the World Mental Health Day events. VAMT is in receipt of the fund which is managed by the World Mental Health Steering Group. 

Integrated Care Fund - The Intermediate Care Fund supported the employment of a team of community co-ordinators, 2 of whom are hosted by VAMT. The roles provide information, advice and signpost statutory partners and citizens to voluntary sector services and activities which benefit individuals aged 50+. 

Care Home Education - This funding is to support delivery of education about end of life care within Care Homes. It will focus on developing awareness and leadership at care home management level, as well as general awareness across other staffing groups. ICF Befriending Services - Funding is provided to improve loneliness and isolation in the 50+ population by providing befriending services via one to one and group sessions. Community Capacity Grant Scheme - Funded by the Integrated Care Fund, VAMT administered a £60,000 Community Capacity Grant Scheme which funded 15 projects who demonstrated significant impact in reducing isolation and loneliness, promoting helathy lifestyles and wellbeing, preventing unneccessary hospital admissions and supporting hospital discharges. 

ICF Carers Grant - The grant is to provide preventative services which support and enhance the wellbeing of carers. 

## ICF 

Dementia - Grant funding for third sector organisations providing dementia care in the Cwm Taf Region. 

Community Zone - For provision of Community Development and Information, Advice and Assistance support to the Community Zone within the Gurnos. 

## ICF 

- VAMT Staff Fund represents funding towards staff and core costs 

WCVA Comic Relief Emergency Fund - is to enable those providing vital support to groups affected by Covid-19, such as: people in isolation, the elderly, carers, people struggling to access food etc. so that they can be supported during this time. Applications could also address one of Comic Relief’s four strategic themes: Children Survive and Thrive; Mental Health Matters; Gender Equality; A Safe Place to Be. Grant Funding could be used for smaller capital or revenue expenditure including consumables. However, the request must fit in with the grant aims of maintaining or increasing voluntary services for vulnerable individuals and communities affected by the Coronavirus (Covid-19) pandemic. 

Page 35 



## Voluntary Action Merthyr Tydfil 

## Notes to the Financial Statements for the Year Ended 31 March 2021 

Loneliness and Isolation represents funding 

## ICF Capital Grants represents funding 

Friend In Need Grant - The aim of the funding was to support the third sector to continue to offer befriending services to those who would benefit from them, increase befriending capacity and recruit and train befriending volunteers. 

Self isolation grants - a small grants scheme in order for third-sector organisations to provide support to those people identified as requiring to self-isolate, across Merthyr Tydfil. 

Interlink Covid - Support, administration and evaluation relating to Mental Health Covid-19 grants. 

Cwm Taf Self-Isolation - As part of the Protect element of TTP (Track, Trace, Protect) to encourage safe behaviours around self-isolating, this funding was made available to cover the cost of food parcels with up to 10 days’ worth of food. This funding was specifically for people who had been advised to self-isolate by track and trace due to either a positive Covid-19 test result or as a contact of a positive case. 

BAME - Public Health provided funding to employ a Black Asian Minority Ethnic (BAME) Engagement Officer. The key aim of the project was to influence Covid-19 safe behaviours in local BAME communities by ensuring the messaging is appropriate and culturally sensitive, encouraging adherence to guidance and encouraging uptake of testing and vaccinations. 

Winter slippage - Funding allocation via the Cwm Taf Morgannwg Winter Planning Programme to help alleviate pressure points within the voluntary sector during the winter period. 

Covid 19 Transformation Funding - This funding is made available via the Transformation Programme Governance Framework. It is focussed on supporting vulnerable individuals and communities affected by the Covid-19 pandemic and covers small capital or revenue expenditure. Carol see TP56 email attached and you’ll have the email trail which increased this to £15k Emergency Fund - 2 tranches of money from Welsh Government, received in April 2020 and March 2021. The purpose of the Voluntary Services Emergency Fund (VSEF) is to enable those providing vital support to groups affected by Covid-19, such as: people in isolation, the elderly, carers, people struggling to access food etc. so that they can be supported during this time. Grant Funding can be used for smaller capital or revenue expenditure including consumables (for example PPE, food items toiletries etc). However, the request must fit in with the grant aims of maintaining or increasing voluntary services for vulnerable individuals and communities affected by the Coronavirus (Covid-19) pandemic. 

CRY Grant, Coronavirus Recovery Grant for Volunteering - Funding via Welsh Government for a collaborative programme of support across Merthyr Tydfil which focusses on sustainability, standardisation and safeguarding. 

Page 36 



## Voluntary Action Merthyr Tydfil 

## Notes to the Financial Statements for the Year Ended 31 March 2021 

20 Analysis of net assets between funds 

|20 Analysis of netnet assets between funds||||
|---|---|---|---|
||Unrestricted|||
||funds|||
|||Restricted||
||General|funds|Total funds|
||£|£|£|
|Tangible fixed assets|86,269|-|86,269|
|Fixed asset investments|80,407|-|80,407|
|Current assets|484,131|204,635|688,766|
|Current liabilities|(49,995)|-|(49,995)|
|Totalnetassets|600,812|204,635|805,447|



Page 37