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← Voluntary Action Merthyr Tydfil

2025-03-31-accounts

Charity registration number 1118403 (England and Wales)

Company registration number 06058360

VOLUNTARY ACTION MERTHYR TYDFIL

Annual Report and Financial Statements

For the Year Ended 31 March 2025

VOLUNTARY ACTION MERTHYR TYDFIL

Contents

Page
Legal and administrative information 1
Trustee report 2 - 11
Statement of trustee responsibilities 12
Independent auditor's report 13 - 15
Statement of financial activities 16
Balance sheet 17
Statement of cash flows 18
Notes to the financial statements 19 - 32

VOLUNTARY ACTION MERTHYR TYDFIL

Legal and Administrative Information

Trustee Mr J Evans Mr H W Jackson Ms N B Mahoney Ms K A Nor-val Ms A Roberts Mr M Ronan Secretary Ms S Richards Charity number (England and Wales) 1118403 Company number 06058360 Principal address 89 -90 High Street Merthyr Tydfil Mid Glamorgan CF47 8UH Registered office 89 -90 High Street Merthyr Tydfil Mid Glamorgan CF47 8UH Auditor RCH Accountants Limited Wellfield House Temple Street Llandrindod Wells Powys LD1 5HG

VOLUNTARY ACTION MERTHYR TYDFIL

Trustees Report (Including Directors' Report) For the Year Ended 31 March 2025

The Trustees who are also directors of the charity for the purposes of the Companies Act 2006, are pleased to present their annual report together with the financial statements of the charity for the year ended 31[st] March 2025.

The Trustees have adopted the provisions of 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).

ADMINISTRATIVE DETAILS

Charity & Company Name Voluntary Action Merthyr Tydfil
Charity Registration Number 1118403
Company Registration Number 6058360
Registered Office 89-90 Pontmorlais, High Street, Merthyr Tydfil CF47 8UH
Trustees Dr Hefin Jones OBE, Chair (Resigned 26.09.24)
Michael Ronan, Treasurer (and Chair from 21.10.24)
Anne Roberts MBE
Kayleigh Nor-Val
Nicola Mahoney
David Hughes (Resigned 17.02.25)
Howard Jackson from 27.09.24
Jeff Evans from 14.10.24
Chief Officer /
Company Secretary		 Sharon Richards
Banker HSBC, 127-128 High Street, Merthyr Tydfil CF47 8DN
Auditor RCH Accountants Limited, Wellfield House, Temple Street, Llandrindod
Wells LD1 5HG

ACCOUNTABILITY AND GOVERNANCE

Voluntary Action Merthyr Tydfil (VAMT) is a company limited by guarantee and a registered charity. The current company / charity became operational on 1 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. Officers are elected by the Board. No outside party can nominate Trustees; however elected Trustees may appoint or co-opt members in accordance with the constitution. Trustees are onboarded to the organisation following a clear induction process, which explains the role and function of the organisation, and outlines the expectations of a Trustee and the support they will have in undertaking their duty. Training and development opportunities for Trustees are incorporated within the overarching organisational training and development matrix.

VAMT has adopted the Charity Commission’s Hallmarks of an Effective Charity, and its Board of Trustees adhere to the Nolan Seven Principles of Public Life.

Full Board Meetings are held quarterly, and the Board has one current sub-group, which deals with Finance & Risk.

Day-to-day management of the Charity is delegated to the Chief Officer. The staff structure of the organisation includes a Senior Leadership Team (Chief Officer, Business & Finance Manager and Operations Manager), who all participate in Board Meetings and advise/ report on different aspects of the Charity.

VOLUNTARY ACTION MERTHYR TYDFIL

Trustees Report (Including Directors' Report) For the Year Ended 31 March 2025

OBJECTIVES

The Objects of the Charity are to promote any charitable purposes for the benefit of the community in the County Borough of Merthyr Tydfil and surrounding area (‘the area of benefit’) and in particular, but not limited to, the advancement of education, the furtherance of health and the relief of poverty, distress, and sickness.

The principal aims of the charity are to:

VAMT is a member of Third Sector Support Wales (TSSW); a collaboration of the 19 County Voluntary Councils in Wales together with Wales Council for Voluntary Action. TSSW provide a universal offer to the third sector based on four pillars of activity: volunteering; good governance; sustainable funding and engagement and influencing which align with the overall objectives of VAMT.

PUBLIC BENEFIT

The Trustees confirm they have referred to the Charity Commission’s guidance on public benefit when reviewing the charity’s aims and objectives in planning future activities.

The main activities undertaken to further the charity’s purposes for the public benefit are detailed below.

ACHIEVEMENTS AND PERFORMANCE

TSSW organisations utilise an integrated Customer Relationship Management (CRM) system which provides functionality to record and monitor activity. The table below captures VAMT data across the previous two reporting periods:

Key Performance Indicators 2023-2024 2024-2025
Total number of interactions (instances of advice / support) with
organisations/stakeholders		 712 543
Number of volunteersplaced / supported 95 127
Number of Third Sector organisations provided with direct advice/support 502 269
Amount of funding received by Third Sector organisations following support (from
VAMT)		 £341,221 £484,366
Amount of funding provided through grants schemes administered by VAMT £327,240 £278,537
Number of attendees at forums and events organised by VAMT 523 663
Number of participants at training courses provided (digital and face to face) 56 88
Total membership (at 31stMarch) 345 369

VOLUNTEERING

As part of our core business we provide the services of a Volunteer Centre delivered by our Lead Officer for Volunteering (0.5wte). During the year we were able to increase our capacity temporarily via funding from the UK Government Shared Prosperity Fund.

Our Volunteer Centre work includes provision of information, advice, guidance and 1:1 support to both individuals wanting to explore volunteering, and also organisations who wish to have the support of volunteers as part of their workforce, or undertake corporate volunteering themselves. We support organisations by promoting their volunteering opportunities, as well as offering information and advice on volunteer recruitment, selection and onboarding. For individuals, we offer advice and guidance on the range of volunteering opportunities locally, and also across the wider area via the Volunteering Wales website. Each volunteers’ needs are addressed individually, and our advice is tailored to meet their requirements/aspirations.

Over the course of the year the Volunteer Centre provided support to 90 individual volunteers and then brokered and supported a further 37 to undertake volunteer placements.

We continue to facilitate a Volunteer Managers’ Forum; however, attendance has been sporadic. Therefore we will

VOLUNTARY ACTION MERTHYR TYDFIL

Trustees Report (Including Directors' Report)

For the Year Ended 31 March 2025

actively review our approach to ensure that our members are supported with current information around good practice, and appropriate governance when onboarding volunteers to enhance their workforce.

As part of our annual calendar of events to celebrate and recognise Volunteers’ Week, we facilitated a Volunteer Fair in Merthyr Tydfil Town Centre. Through collaboration with the Shopping Centre Manager, we were able to acquire individual pitches for 18 member organisations to promote their services and volunteering opportunities, and engage directly with the public.

83 people attended our annual Volunteer Recognition Awards ceremony was held at the end of June, and recognised six categories of award, including for the first time, a Volunteer in Sport award borne from our collaboration with Active Merthyr. Presiding over the event was our guest host for the evening - acclaimed broadcaster, presenter, author and podcaster, Andrea Byrne.

A particular area of the VAMT website is dedicated to Volunteering, and includes links to resources and information relating to the Volunteer Awards and Volunteers’ Week activities.

We maintained our collaboration with Merthyr Tydfil College and co-led a Volunteering Fair for students. Held at the College, we brought forward a range of third sector organisations who attended on the day, and as an organisation we took 24 new volunteering enquiries.

With additional capacity we introduced outreach sessions at the Job Centre, where Work Coaches could directly refer their customers to explore interest in volunteering.

We continued to provide advice and support to EE on corporate volunteering opportunities, as well as facilitating a corporate volunteering placement for Barclays Bank staff.

Staff at VAMT utilised our Corporate Volunteering Policy again this year to volunteer at Merthyr/Cynon Foodbank and also Merthyr Tydfil Poppy Appeal. A total of 48 hours of direct support was provided.

As in previous years, we administered a Youth Led Grants programme. This involved active promotion of the opportunity, collation of applications, convening and facilitating a multi-agency grants panel who then assessed the applications and agreed the awards. A total of £6,350 was allocated to five separate organisations.

GOOD GOVERNANCE

Our Lead Officer for Community Development continued to provide a range of 1:1 support which included offering information, advice and guidance relating to business planning; development of policies and procedures; and support/access to a range of training and development opportunities. This work accounted for 12.7% of our overall interactions across the year.

Our core offer includes supporting the establishment of a range of new organisations and community groups. In this regard, this year we undertook a specific area of work and supported the development of a number of Parent Teacher Associations (PTAs) or Friends of Groups within a number of schools throughout the Borough. This work resulted in six Groups becoming formally constituted, having business plans that supported their individual ambitions, and access to training programmes to enable them to become upskilled in areas such as safeguarding, health and safety, financial responsibilities. Further support is accounted in the following sections of the report.

For the sixth year consecutively we have seen an increase in our membership – with 7% increase on the previous year, and a huge 32% membership growth recorded since the pandemic, ie, March 2020.

As a Board of Trustees some of us contributed to the development of a training course on “Being a Trustee”, which is to become a TSSW-wide resource.

In Trustees’ Week 2024 a bespoke session was offered through our membership which intended to address “How to Recruit and Retain Trustees”. Disappointingly this was subsequently cancelled due to low sign up.

We continue to promote the TSSW Knowledge Hub and its resources to support Trustees, as well as utilise our own website to share information and tools to support Trustees in executing their roles and responsibilities.

As in previous years we have supported a number of Partner Grant Panels, including Merthyr Tydfil Community Trust; Merthyr Valleys Homes’ Grant and also the Shared Prosperity Grant for Sport and Social Economy. In addition, we have been involved in the Amser Grant Panel which is administered by Interlink RCT and offers funding

VOLUNTARY ACTION MERTHYR TYDFIL

Trustees Report (Including Directors' Report)

For the Year Ended 31 March 2025

to provide respite opportunities for unpaid carers.

In our administration of grant funding opportunities we implement a robust governance framework which guarantees transparency of process; due diligence is exercised in respect of financial accountability; and ensures recipients of grant awards are compliant with monitoring and reporting responsibilities.

SUSTAINABLE FUNDING

The demand for our support in relation to sustainable funding is at an all-time high, with 39.9% of our total interactions in the reporting period relating to this area of our work. The demand reflects a 17.9% increase on the previous year, and is more than double the level of enquiries at the height of the pandemic (15.8%). The requests for support we are witnessing continue to be driven by the ongoing financial crisis, cuts to service contracts and noticeable decline in alternative and accessible funding sources.

Across the year we provided support to 33 organisations who collectively secured £484,336 of funding. When compared to the previous year this is an increase in the number of organisations, but the average award per organisation is now 26.8% less.

We continued in our administration of grant schemes across the local and regional area, which are detailed below, and which reflects the downward trend of grant funding available for us to pass on to our members. This year we allocated a total of £278,537 to 10 organisations, yet in the year prior we supported 34 organisations with £327,240.

Local Grant Schemes

Regional Grant Schemes (Cwm Taf / Cwm Taf Morgannwg )

This year we expanded our “Meet the Funder” programme and worked with 7 different funding bodies. We facilitated the programme and brokered 60 people from member organisations into the sessions.

VOLUNTARY ACTION MERTHYR TYDFIL

Trustees Report (Including Directors' Report)

For the Year Ended 31 March 2025

We also provided one-to-one finance support, including accounts checking service for two small community groups, via our Business & Finance Team.

INFLUENCE AND ENGAGEMENT

VAMT exercises a range of approaches for engaging with member organisations and partners as demonstrated below:

Newsletters/Bulletins

Social Media

Network and Forum Meetings

VAMT continued to convene and facilitate the following Network and Forum meetings:

Partnership Meetings

The Staff Team and also the Chair support the TSSW Partnership Structure, inputting to practitioner and strategic meetings, where we can influence change/developments at a national level. Our participation enables us to keep our members updated on developments and best practice.

In addition, VAMT team engaged in 67 strategic partnerships and planning groups at a local/ regional level. Some key developments include:

VOLUNTARY ACTION MERTHYR TYDFIL

Trustees Report (Including Directors' Report)

For the Year Ended 31 March 2025

impact of climate change. After extensive development across the region, the PSB has now published the final risk assessment on its website: www.ourcwmtaf.wales.

PROJECT FUNDED STAFF

As outlined in our previous report we were expecting some change around our project funded staff this year.

We have been able to increase our capacity of Community Coordinators and work with the University Health Board to reconfigure our mental health project. Also, with new funding agreements via Invest Local Ynysowen and Transport for Wales, we successfully introduced additional members to the VAMT team in Q2.

Some of our project staff are grant funded and some have Service Agreements. However, all of the projects align with our overarching core business and contribute to our engagement with individuals in the community, our members and wider partners/ stakeholders. Their work this year includes:

• Mental Health: via Cwm Taf Morgannwh University Health Boarg A particular development this year has been a collaboration with both residents and staff of Pinewood House; a facility which provides Mental Health recovery and rehabilitation in an in-patient setting. The aim was to co-produce a leaflet (and logo) that would better represent residents’ needs. As a result of this comprehensive and fully coproduced process a co-designed leaflet has now been finalised. Additionally, a staff facing poster was created, providing clear contact details for SUIOs to ensure staff feel confident and well equipped to respond when approached by residents who wish to be involved in further coproducing opportunities.

This project has helped to improve communication, increased staff and resident awareness of coproduction work, strengthened relationships and empowered residents by making key information more visible and easier to access. By embedding co-production into Pinewood’s approach future service developments are more likely to be resident-led, leading to more effective and meaningful change.

This Officer has explored training needs of member organisations and developed a responsive training programme which included Business Planning; Data Protection; First Aid and Paediatric First Aid. Also supported the development of our “Meet the Funder” events to respond to the shrinkage of accessible grant funding, and collated and disseminated our Funding Newsletter.

The Officer takes a lead role in the facilitation of the multi-agency Food Prosperity Network and third sector Food Pantries Network. Time pressures on Pantry leads determined that going forward they will link to the overarching Food Prosperity Network and contact VAMT with any individual support requirements.

In facilitating the Children, Young People & Families Forum, the Officer has developed the Forum in terms of membership; engaged members in a number of consultations, including NSPCC Listen Up, Speak Up Campaign, and MTCBC’S data gathering on the Welsh Government Youth Work in Wales: Delivering for Young People consultation.

VOLUNTARY ACTION MERTHYR TYDFIL

Trustees Report (Including Directors' Report)

For the Year Ended 31 March 2025

They have been working in partnership with other organisations in the area to collaborate on projects and activities, in order to avoid duplication and ensure the needs of the community are met. This included, but is not limited to, working with Community Focused Schools to run activities for families of all ages including a Scarecrow Trail; World Book Day event. They have linked with Skateboard Academy UK to provide outdoor sport activities in response to a youth consultation held last year, and worked with Coalfields Regeneration Game On project to provide Footie Families Sessions for younger children and their parents.

The Officer provides a range of advice and guidance and provided funding support to the local Aquafit group for over 50’s who subsequently received £6,720 for their ongoing activities. Funding support for the Ynysowen Events & Social Group resulted in them receiving £14,791. A transport survey was devised as an engagement approach to explore the communities’ response to accessibility and frequency of train and bus services, and the findings have been shared with Transport for Wales and Stagecoach.

Community engagement is vital for this project so the Officer holds weekly drop-in sessions in Aberfan Community Centre, and reinvigorated the ILY social media platforms, particularly Facebook. This has resulted in increased engagement and greater awareness of what’s being offered in the area, and how people can get involved. The work will develop further in the year ahead.

The role is to develop and support a Community Rail Partnership (CRP) covering the Merthyr Tydfil, Aberdare and Treherbert lines to Cardiff (35 stations). The overall aim is to connect local communities with their railway, delivering social benefit and increasing rail use within this area through strategic activities.

Appointed in Q2 extensive engagement has been undertaken across the region and the Officer has (1) formed a Community Rail Partnership involving a range of Stakeholders across different sectors, representing the different areas of the CRP (2) undertook community consultation on a name that would represent the geographical area of the CRP – this was agreed as The Three Valleys Community Rail Partnership (3) created a logo which gives identity to the CRP and (4) developed a social media presence, and landing page for a website. Accreditation of the CRP via Community Rail is underway. Details of projects undertaken to date can be found on the CRP Facebook page.

Comprehensive mapping of all 35 stations, plus surrounding areas is part of the forward plan, with intention to meet groups/organisations in those areas who may support the CRP growth. Given the extent of the CRP region and Officer capacity (1.0wte), we will likely explore the support of volunteers going forward.

A NEW WAY OF WORKING

As a Board of Trustees, this year we supported the Team to trial a four-day workweek. Our decision-making was based on, but not limited to having experienced multiple failed recruitment campaigns and needing to exert a competitive stance in the recruitment and retention of staff; sustained financial pressures, and an ongoing permacrisis. Mindful of the negative effects on staff and the impact that working under sustained pressure has on individuals, our duty of care to protect our most valuable assets, was another key factor in the decision.

The trial was based on a National Study involving over 60 organisations across the UK, on the 100-80-100 principle: 100% input in 80% of the time for 100% salary.

To inform our decision, we consulted with existing and potential new funders. Without exception they found this to be an innovative approach; confirmed it demonstrated the value we placed in the wellbeing of our workforce; and they were supportive of the trial.

The trial was closely monitored throughout the year, and the overall findings (relating to recruitment/retention; sickness/absence; staff wellbeing and not least of all performance) were entirely positive. The Board of Trustees have therefore agreed (May 2025) this change be adopted on a permanent basis.

VOLUNTARY ACTION MERTHYR TYDFIL

Trustees Report (Including Directors' Report)

For the Year Ended 31 March 2025

PLANS FOR THE YEAR AHEAD

In 2018 we experienced a redundancy programme as a consequence of loss of funding, and it has taken a number of years to recover and stabilise both our financial and majority of our human resources. Given that the organisation is still largely reliant on annually renewed funding agreements for both its core staff and some project staff, we are taking a cautious approach when looking to the year ahead. We recognise that we are under-resourced with our volunteering capacity, and this is something that we would want to increase in the future. However, grant funding uncertainties influence our ability to plan over an extended period of time and so we are mindful of protecting our reserves to ensure that we do not have a repeat of 2018.

That being said, we can commit wholeheartedly to deliver the following as part of our core priorities in the coming year, and are confident in our ability to do so:

Governance:

Sustainable Funding:

Engagement and Influence:

Volunteering:

FINANCIAL REVIEW

Principal Funding Sources

VAMT continues to derive its funding from a number of sources. The principal ones being Welsh Government; Merthyr Tydfil County Borough Council; Cwm Taf Morgannwg University Health Board and Cwm Taf Morgannwg Regional Partnership Board.

In this report period we obtained funding via Invest Local Ynysowen and also Transport for Wales for the hosting of two new members of staff.

We were successful in applying for UK Government Shared Prosperity Fund administered by Merthyr Tydfil County Borough Council. This funding enabled us to:

VOLUNTARY ACTION MERTHYR TYDFIL

Trustees Report (Including Directors' Report) For the Year Ended 31 March 2025

Reserves Policy and Going Concern

The overall surplus for the year was £115,322 (2024 £179,031)

It is the Charity's policy that free reserves should be sufficient to allow the ongoing operation of the Charity in the event of an unexpected fall in funding. At 31 March 2025 the reserves of the Charity were:

Unrestricted funds
Of which free funds amount to:
Restricted Funds
Total Funds		 31/03/2025
£1,004,364
£927,425
£226,196
£1,230,560		 31/03/2024
£890,209
£814,318
£225,029
£1,115,238

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 1[st] April 2024).

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The charity Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for preparing a Trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Management Committee to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing those financial statements, the management committee should follow best practice and:

The Management Committee are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ascertain to ensure that the financial statements comply with the Companies Act 2006. The Management Committee is 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 Management Committee 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.

VOLUNTARY ACTION MERTHYR TYDFIL

Trustees Report (Including Directors' Report)

For the Year Ended 31 March 2025

STATEMENT AS TO DISCLOSURE TO OUR AUDITORS

In accordance with company law, as the company’s directors, we certify that:

Approved by the Board of Trustees on 9 September 2025 and signed on its behalf by:

Michael Ronan Chair & Treasurer

VOLUNTARY ACTION MERTHYR TYDFIL

Statement of Trustee Responsibilities

For the Year Ended 31 March 2025

The trustee, who are also the directors of Voluntary Action Merthyr Tydfil for the purpose of company law, are responsible for preparing the Trustee 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 trustee to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

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

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

VOLUNTARY ACTION MERTHYR TYDFIL

Independent Auditor's Report

To the Trustee 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 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

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 trustee use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

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

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

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustee are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. 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 course of 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 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 required to report that fact.

We have nothing to report in this regard.

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 requires us to report to you if, in our opinion:

VOLUNTARY ACTION MERTHYR TYDFIL

Independent Auditor's Report

To the Trustee of Voluntary Action Merthyr Tydfil

Responsibilities of trustee

As explained more fully in the statement of trustee responsibilities, the trustee, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustee 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 trustee 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 trustee either intend to liquidate the charitable company 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 auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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

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

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

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.

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:

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.

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.

VOLUNTARY ACTION MERTHYR TYDFIL

Independent Auditor's Report

To the Trustee of Voluntary Action Merthyr Tydfil

Use of our report

This report is made solely to the charity’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 charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

M L Barnes FCA FCCA (Senior Statutory Auditor)

For and on behalf of RCH Accountants Limited, Statutory Auditor Chartered Accountants Wellfield House Temple Street Llandrindod Wells Powys LD1 5HG 10 September 2025

RCH Accountants Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

VOLUNTARY ACTION MERTHYR TYDFIL

Statement of Financial Activites Including Income and Expenditure Account

For the Year Ended 31 March 2025

Unrestricted
funds
2025
Notes
£
Income from:
Charitable activities
2
323,132
Other Activities
3
36,492
Investments
4
19,147
Total income
378,771
Expenditure on:
Charitable activities
5
347,495
Net gains/(losses) on investments
11
(4,275)
Net incoming resources before transfers
27,001
Gross transfers between funds
87,154
Net movement in funds
114,155
Fund balances at 1 April 2024
890,209
Fund balances at 31 March 2025
1,004,364		 Restricted
funds
2025
£
701,998
-
-
701,998
613,677
-
88,321
(87,154)
1,167
225,029
226,196		 Total
2025
£
1,025,130
36,492
19,147
1,080,769
961,172
(4,275)
115,322
-
115,322
1,115,238
1,230,560		 Total
2024
£
1,014,704
39,212
12,207
1,066,123
894,810
7,718
179,031
-
179,031
936,207
1,115,238

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

The notes on pages 19 to 32 form part of these financial statements.

VOLUNTARY ACTION MERTHYR TYDFIL

Balance Sheet

As at 31 March 2025

Notes
Fixed assets
Tangible assets
14
Investments
15
Current assets
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within one
year
17
Net current assets
Total assets less current liabilities
The funds of the charity
Restricted income funds
20
Unrestricted funds
19		 £
59,688
1,043,493
1,103,181
(39,766)		 2025
£
79,681
87,464
167,145
1,063,415
1,230,560
226,196
1,004,364
1,230,560		 £
38,387
959,897
998,284
(52,699)		 2024
£
77,915
91,738
169,653
945,585
1,115,238
225,029
890,209
1,115,238

The notes on pages 19 to 32 form part of these financial statements.

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025, although an audit has been carried out under section 144 of the Charities Act 2011.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its accounts for the year in accordance with s. 476 of the Companies Act 2006.

The financial statements were approved by the trustee on 9 September 2025

Mr M Ronan Trustee

Company registration number 06058360 (England and Wales)

VOLUNTARY ACTION MERTHYR TYDFIL

Statement of Cash Flows

For the Year Ended 31 March 2025

2025
Notes
£
£
Cash flows from operating activities
Cash generated from operations
24
72,431
Investing activities
Purchase of tangible fixed assets
(7,982)
Investment income received
19,147
Net cash generated from investing activities
11,165
Net cash used in financing activities
-
Net increase in cash and cash equivalents
83,596
Cash and cash equivalents at beginning of year
959,897
Cash and cash equivalents at end of year
1,043,493
The notes on pages 19 to 32 form part of these financial statements.		 2024
£
£
176,149
(4,881)
12,207
7,326
-
183,475
776,422
959,897		 2024
£
£
176,149
(4,881)
12,207
7,326
-
183,475
776,422
959,897
183,475
776,422
959,897

VOLUNTARY ACTION MERTHYR TYDFIL

Notes to the Financial Statements For the Year Ended 31 March 2025

1 Accounting policies

Charity information

Voluntary Action Merthyr Tydfil is a private company limited by guarantee incorporated in England and Wales. The registered office is 89 -90 High Street, Merthyr Tydfil, Mid Glamorgan, CF47 8UH.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustee have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustee continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustee in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Government and other grants

Government and other 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.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation 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.

VOLUNTARY ACTION MERTHYR TYDFIL

Notes to the Financial Statements For the Year Ended 31 March 2025

1 Accounting policies

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.

1.6 Tangible fixed assets

Tangible fixed assets costing £500 or more are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold Land and Buildings 2% straight line, Land not depreciated Leasehold land and buildings Over the remaining term of the lease Computers 25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

VOLUNTARY ACTION MERTHYR TYDFIL

Notes to the Financial Statements For the Year Ended 31 March 2025

1 Accounting policies

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are recognised at transaction.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised at transaction.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Charitable activities

Unrestricted
funds
2025
£
Donations and gifts
-
Grants and contracts
323,132
323,132
Grants receivable for core activities
CwmTaf Local Health Board
73,926
Merthyr Tydfil CBC
41,665
WCVA
207,541
Interlink
-
Lloyds Bank Foundation
-
Global Village
-
Invest Local Ynysowen
-
Transport For Wales
-
323,132		 Restricted
funds
2025
£
-
701,998
701,998
535,822
95,949
6,650
-
-
-
36,077
27,500
701,998		 Total
2025
£
-
1,025,130
1,025,130
609,748
137,614
214,191
-
-
-
36,077
27,500
1,025,130		 Total
2024
£
700
1,014,004
1,014,704
572,381
147,636
205,336
2,000
15,564
13,231
276
57,580
1,014,004

VOLUNTARY ACTION MERTHYR TYDFIL

Notes to the Financial Statements For the Year Ended 31 March 2025

3 Income from charitable activities

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Miscellaneous Income 4,275 3,716
Rental Income 32,117 30,366
Other Activities 100 5,130
36,492 39,212
4 Income from investments
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Interest receivable 19,147 12,207
5 Expenditure on charitable activities
Charitable Charitable
Expenditure Expenditure
2025 2024
£ £
Direct costs
Staff costs 465,510 387,877
Grants payable 301,118 342,306
766,628 730,183
Share of support and governance costs (see note 7)
Support 173,405 143,777
Governance 21,139 20,850
961,172 894,810
Analysis by fund
Unrestricted funds 347,495 371,287
Restricted funds 613,677 523,523
961,172 894,810

VOLUNTARY ACTION MERTHYR TYDFIL

Notes to the Financial Statements

For the Year Ended 31 March 2025

Grants payable
Charitable Charitable
Expenditure Expenditure
2025 2024
£ £
Grants to institutions 2025 (22 grants):
2024 (40 grants):
Youth Led Grants 6,350 5,000
Regional Integrated Fund Grants 288,250 253,800
VAMT Grants 6,518 83,506
301,118 342,306

7 Support costs

Support costs
Staff costs
Premises expenses
Advertising & publications
Insurance
Bank charges
Development costs
Office costs
Motor & Travel
Legal & professional
Other costs
Depreciation
Audit fees
Accountancy
Analysed between
Charitable activities		 Support
costs
Governance
costs
£
£
-
14,000
89,060
-
4,250
-
5,045
-
5,472
-
18,052
-
37,867
-
1,555
-
2,467
-
3,421
-
6,216
-
-
5,200
-
1,939
173,405
21,139
173,405
21,139		 2025
£
14,000
89,060
4,250
5,045
5,472
18,052
37,867
1,555
2,467
3,421
6,216
5,200
1,939
194,544
194,544		 2024
£
14,000
62,562
2,667
4,879
6,635
21,605
31,965
851
3,071
2,428
7,114
5,000
1,850
164,627
164,627

VOLUNTARY ACTION MERTHYR TYDFIL

Notes to the Financial Statements For the Year Ended 31 March 2025

8
Auditor's remuneration
Fees payable to the charity's auditor and associates:
Audit of the charity's annual accounts
Non-audit services
All other non-audit services		 2025
£
5,200
1,939		 2024
£
5,000
1,850

9 Trustee

None of the trustee (or any persons connected with them) received any remuneration or benefits from the charity during the year. One trustee was reimbursed a total of £31 in respect of travel costs, ( 2024 nil)

10 Employees

The average monthly number of employees during the year was:

Employment costs
Wages and salaries
Social security costs
Other pension costs
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel
The remuneration of key management personnel is as follows.
Aggregate compensation		 2025
Number
13
2025
£
406,142
33,819
39,549
479,510
2025
106,954		 2024
Number
11
2024
£
341,440
26,926
33,511
401,877
2024
97,071

VOLUNTARY ACTION MERTHYR TYDFIL

Notes to the Financial Statements

For the Year Ended 31 March 2025

11 Gains and losses on investments

Unrestricted Unrestricted Unrestricted
funds funds
2025 2024
Gains/(losses) arising on: £ £
Revaluation of investments (4,275) 7,718
12 Operating Profit
2025 2024
Operating Profit for the year is stated after charging: £ £
Depreciation of owned tangible fixed assets 6,216 7,115
Operating Leases 2,332 2,176

13 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

14 Tangible fixed assets

Freehold Land
and Buildings
Leasehold land
and buildings
Computers
£
£
£
Cost
At 1 April 2024
87,979
427,433
126,147
Additions
-
-
7,982
At 31 March 2025
87,979
427,433
134,129
Depreciation and impairment
At 1 April 2024
20,153
427,433
116,058
Depreciation charged in the year
1,260
-
4,956
At 31 March 2025
21,413
427,433
121,014
Carrying amount
At 31 March 2025
66,566
-
13,115
At 31 March 2024
67,826
-
10,089		 Total
£
641,559
7,982
649,541
563,644
6,216
569,860
79,681
77,915

VOLUNTARY ACTION MERTHYR TYDFIL

Notes to the Financial Statements

For the Year Ended 31 March 2025

15 Fixed asset investments

Cost or valuation
At 1 April 2024
Valuation changes
At 31 March 2025
Carrying amount
At 31 March 2025
At 31 March 2024
16
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
17
Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Accruals and deferred income
18
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes		 Listed
investments
£
91,738
(4,274)
87,464
87,464
91,738
2025
2024
£
£
2,137
2,846
56,549
33,242
1,002
2,299
59,688
38,387
2025
2024
£
£
9,188
8,032
14,023
32,056
16,555
12,611
39,766
52,699
2025
2024
£
£
39,549
33,511

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

VOLUNTARY ACTION MERTHYR TYDFIL

Notes to the Financial Statements For the Year Ended 31 March 2025

19 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1
General funds
Previous year:
At 1
General funds		 April 2024
£
890,209
April 2023
£
807,851		 Incoming
resources
Resources
expended
£
£
378,771
(347,495)
Incoming
resources
Resources
expended
£
£
346,399
(371,287)		 Transfers
£
87,154
Transfers
£
99,528		 Gains and
losses
At 31 March
2025
£
£
(4,275)
1,004,364
Gains and
losses
At 31 March
2024
£
£
7,718
890,209

VOLUNTARY ACTION MERTHYR TYDFIL

Notes to the Financial Statements

For the Year Ended 31 March 2025

20 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Transfers of funds represent agreed management charges for the operation of the fund, contributions to core costs and similar items.

Balance at
1 April 2023
£
Transport for Wales
-
Youth led Grants
450
Community Resillience
-
Regional Integrated Fund
12,000
Community Zone
-
Lonliness and Isolation
-
Global Village
-
Invest Local Ynysowen
-
Interlink COVID
12,161
BAME
447
MTCBC - Food Poverty
-
Lloyds Foundation
474
Recovery
47,627
Shared Prosperity Fund
-
Mental Health Involvement & Development
55,197
Feeding Britain
-
128,356		 Movement in funds
Incoming
resources
Resources
expended
£
£
57,580
(590)
6,650
(5,000)
8,000
(18,010)
396,752
(301,102)
35,044
(32,787)
36,435
(20,465)
13,231
(10,500)
276
(276)
-
(323)
-
-
63,900
(53,689)
15,564
(9,661)
-
-
-
-
86,292
(71,120)
-
-
719,724
(523,523)		 Transfers
Balance at
1 April 2024
£
£
(1,243)
55,747
(1,200)
900
63,619
53,609
(57,829)
49,821
(2,257)
-
(15,970)
-
-
2,731
-
-
-
11,838
-
447
(6,423)
3,788
(5,844)
533
(46,877)
750
-
-
(25,504)
44,865
-
-
(99,528)
225,029		 Movement in funds
Incoming
resources
Resources
expended
£
£
27,500
(31,086)
6,650
(6,350)
61,496
(68,349)
453,230
(397,113)
-
-
-
-
-
(2,731)
36,076
(26,823)
-
-
-
(223)
-
(3,788)
-
(237)
-
-
34,453
(38,612)
82,593
(38,366)
10,000
(10,000)
711,998
(623,678)		 Transfers
Balance at
31 March 2025
£
£
(7,553)
44,608
(1,200)
-
5,447
52,203
(65,591)
40,347
-
-
-
-
-
-
(8,479)
774
-
11,838
(224)
-
-
-
(296)
-
-
750
4,159
-
(13,416)
75,676
-
-
(87,153)
226,196		 Transfers
Balance at
31 March 2025
£
£
(7,553)
44,608
(1,200)
-
5,447
52,203
(65,591)
40,347
-
-
-
-
-
-
(8,479)
774
-
11,838
(224)
-
-
-
(296)
-
-
750
4,159
-
(13,416)
75,676
-
-
(87,153)
226,196
226,196

VOLUNTARY ACTION MERTHYR TYDFIL

Notes to the Financial Statements

For the Year Ended 31 March 2025

20 Restricted funds

Transport for Wales - To promote and develop the community railway lines on behalf of the Heads of the Valleys Railway Partnership. Working in partnership with the local community, business, and tourism to establish and implement a community rail development plan that will benefit the community and the railway. The Officer will support the Community Rail Partnership and have responsibility for the delivery of the Activity Plan that will be agreed by the regional steering group each year in line with the Wellbeing of Future Generations Act.

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

RIF 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 Resilience Fund – For provision of community development support to third sector organisations, in particular around the children, young people and families and food prosperity agenda.

RIF Dementia - Grant funding for third sector organisations providing dementia care in the Cwm Taf Region. This includes an element to host a Dementia conference and produce a film demonstrating third sector delivery in supporting people living with dementia and their carers. This element has been delayed by Covid.

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

Loneliness and Isolation represents funding to host a staff member to work collaboratively with third sector organisations and partners, to tackle loneliness and isolation in Merthyr Tydfil and Rhondda Cynon Taf. along with a grant scheme that will be used to build the capability and sustainability of front-line grass roots voluntary and community organisations that bring people of all ages together and help them build social connections.

Global Village – Legacy fund to administer a small grant scheme for organisations, to fund workshops promoting equality, diversity, culture and inclusion.

Invest Local Ynysowen – To support the Invest Local Ynysowen Steering Group, residents, volunteers, groups, stakeholders and partners to deliver the projects and programmes of work identified in the Driving Change plan. The officer will engage with local residents and develop a sustainable volunteer base, build local capacity to develop a sustainable funding strategy to secure the long-term future of the community beyond the Invest local funding.

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

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.

VOLUNTARY ACTION MERTHYR TYDFIL

Notes to the Financial Statements

For the Year Ended 31 March 2025

20 Restricted funds

MTCBC – Food Poverty – This grant contributes to food supplies and equipment for the pantries, food banks and food co-ops in Merthyr Tydfil.

Lloyds Foundation - a grant to host a Local Implementation Lead officer, to support their people and places programme of work in Merthyr Tydfil.

Recovery - a grant scheme to assist with post covid recovery and promote well-being.

Shared Prosperity Fund - grant funding to improve access within the Charity's building, for social enterprise web development and salary costs to support volunteering and development staff.

Mental Health Involvement & Development - an agreement with Cwm Taf Morgannwg UHB to host two posts as part of their model of service delivery for mental health, along with funding to take forward recommendations of a report to review of service user and carer representation, engagement and involvement: Cwm Taf Morgannwg Together for Mental Health Partnership Board.

Feeding Britain - Funding towards food supplies and equipment for the pantries and food co-ops in Merthyr Tydfil.

VOLUNTARY ACTION MERTHYR TYDFIL

Notes to the Financial Statements

For the Year Ended 31 March 2025

21 Analysis of net assets between funds

Analysis of net assets between funds
Unrestricted
funds
2025
£
Fund balances at 31 March 2025 are represented
by:
Tangible assets
76,939
Investments
87,464
Current assets/(liabilities)
839,961
1,004,364		 Restricted
funds
2025
£
2,742
-
223,454
226,196		 Total
2025
£
79,681
87,464
1,063,415
1,230,560		 Total
2024
£
77,915
91,738
945,585
1,115,238

22 Operating lease commitments

Lessee

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years		 2025
£
2,260
4,784
7,044		 2024
£
2,104
640
2,744

23 Related party transactions

There were no disclosable related party transactions during the year (2024 - none).

24 Cash generated from operations

Cash generated from operations
Surplus for the year
Adjustments for:
Investment income recognised in statement of financial activities
Fair value gains and losses on investments
Depreciation and impairment of tangible fixed assets
Movements in working capital:
(Increase) in debtors
(Decrease)/increase in creditors
Cash generated from operations		 2025
£
115,322
(19,147)
4,275
6,215
(21,301)
(12,933)
72,431		 2024
£
179,031
(12,207
(7,718
7,114
(137
10,066
176,149

VOLUNTARY ACTION MERTHYR TYDFIL

Notes to the Financial Statements

For the Year Ended 31 March 2025

25 Analysis of changes in net funds

The charity had no material debt during the year.