REGISTERED COMPANY NUMBER: 06541083 (Engl4nd and Wales) ' REGISTERED CHARrtY NUMBER: 1123615 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 202S FOR CWM TAF MORGANNWG MIND PREVIOUSLY KNOWN AS MERTHYR AND THE VALLEYS MIf4D imi *AEGU7NZ6' 1212025 CcPANIEs H(XJSE A17 1129 Baker Knoyle Chartered Accounlants Orbit Busincss Centre Merthyr Tydfil CF48 IDL
CWM TAF MORGANIYWG MIND RIVIOUSLY KNOWN AS MERTHYR AND THE VALLEYS MIND CONTENTS OF THE FfNANCIAL STATEME FOR THE YEAR ENDED 31 MARCH 2025 Pge Report of th¢ Trust¢¢s Independtnt Examlner's Report Stt¢men¢ of Finallci Activltl¢s Blanee Sheet io C4sb Flow Stternettt Notes ¢0 the Cash Flow Sts¢¢meMt 12 Notes ts the Flnantlal Statettllts 13 to 31 Detailed Stattmtnt of Flttanci*l Activities 32 to 33
CWM TAF MORGAf4NWG MIND GISTERED NUMBER: (16541(183 PREVIOUSLY WN AS MERTHYR AND THE VALLEYS MIND REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 The trustees who are also dir¢¢tor5 of the charity for the purposes of the Companies Aci 2)6, pr¢seni their report with the financial staiements of the charity for th¢ year ended 31 March 2025. The ttwtees have adopted the provisions of Accounting and Reporting by Charities= Staiem¢nt of R¢comrnend¢d Practice applicable to chatities preparing their ¢counts in acwrdanc¢ with the Financial Reporting Standard applicable in the UK aryi ReÈiubli¢ of Lr¢land (FRS 102) l¢ffective l January 20191. Th¢ Tntst¢¢ R¢port includes the Report of the Directors, as r¢quir¢d by company law. Pagc I
CWM TAF MORGANNWG MIND GISTERED NUMBER: 116541083 REVIOUSLY ILNOWN AS MERTHYR AND VALLEYS MtND REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 OBJECTtVES AND AcfiviTIES Objectives •Thd alm$ Our vision We won't give up urttil everyone ¢xperi¢n¢iDg a mentsl health problem gets both support alld respect. Our mission To provide quality serYice5 a¢ros$ th¢ Cwm Taf Morgannwg region that promote positiv¢ m¢ntsl h¢alth and wellb¢in& Our values: - We provide bope beyond surviving. - We bave compassion for ourselves aad other5. - We are passionate about building resilienrx and wellbeing We XTe: Open - We reach out io anyone who needs u5. Together- We're stronger in parn)ers"p& R¢spoD5ive- We listen. we act. Independent. W¢ speak out fearl¢s$ly. Un$toppable- We never wve up. Strategic priTrritie l. More adults get the support tlKy n¢ed as quickly and seamlessly as possible, with a focus on ensuring our servic meet the diverse needs of our populaiion and is as pr¢v¢ntstive &% 1b1¢. 2. tkvelop our services so that nKtre cbildT¢Q and yOUDg peopl¢ aTe better equipped and supported to mattage their own rn¢ntsl h¢alth and wellbeing. 3. In¢rease our partnership work io help to alleviate some of the key issues that continually contribute to poor rnEntal health. such as poverty, finan¢ial"pr¢ssure. housing or homelessness and work. 4. Lived experiellce is embedded through our organi5ati(Trn to ¢Thsure out sthvices keep pace with the help people require and so w¢ can support wider system change. As part of this, we are d¢v¢loping a Step1 Support Service that allows us io speed-up and reduce barriers to 511PPOrt. as well as provide greater prev¢ntioD of rn¢ntal health escaiatillg. By Stepped Support we mean a range of different services that can support people from low to severe mental health atMI ¢rn(Trtiot]al wellbeing challenges. Servlce User Involv¢rn¢nt Cwm Taf Morgannwg Mind seek to involve servkce user5 in a number of ways.. - Through Serviee User Representation at Tnjstee Board Level - Through employing people with direct livcd CXEKrience - Through consistently evaluating peopl¢s ¢xpwienc¢ of USiDg our sttvices - Through Co-producing our 5traregy - Trough info@ctmmind.org.uk - Through presenting topical issues through social media and communicating openly - Througb- http.'IwTr4w.cimmiod.org.uk]g¢t-involv¢(V off¢riD8 wider iDvolYemellt in Mind We evaluate the views of E)eople using our services throughout the year and analys¢ this data to striv¢ for improvfrn¢nt. w¢ know that a range of service us¢r involvernent approaches are required in order io ttuly engage and empower ihose using ow rVI¢¢$. We also remain committed to the work of Mind aDd its Policy and Public Affairs role. getting local peoples, voice5 into Welsh Govcrnment Consultations which is a priority for us and the Mind Network in Wales. Pag¢ 2
CWM TAF MORGANNWG MIND GISTERED NUMBER.. PREVIOUSLY KNOWN AS MERTHYR AND THE VALLEYS MlhTI 41 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 Summary of Actlvldes: Mind Supported Self Help A Mind National prodt, a pro8ramme of stlf41irected wpport for people experiencing moderdte mental health condirions such as anxiety and depression. &Flocat¢d in Pnmary Care Services. working alongside GP Practices and Primary Care Cluster Teams by providing paticnts with mental health inierv¢ntion5 in the'watchfiil waiting, p¢riod. This service is provided to athilts. as well as ¢'ldren and young people 'are supported my CAMHS. Talking Treatments Also knovm a5 counselling or psychotherapy. the charity is a regisiered member of the British Association for Counselling and Psychotherapy IBACP) and prOVe5 COUDselliDg service5 in partslership witb the NHS and Local Ptimary Care Mentsl Health Support SeThi$. Wete also fiuHled by the Arm¢d Forces cOnallt Fund to provide counselling and money advice to veteran& Trauma-Infomed Counselling Providing trauma.infornxd ¢QUDsellthg setvic¢s to Mth*rnble people to people wbo are 1me1c&S or in remporary accommodation. Independell¢ Adv0¢4ey Providillg independent finattcial.advocacy services to people rx¢iviag Ce and treatrnent und¢T tbe Mental H¢aSth A¢t witht'n the Cwm Taf Mor8annwg University H¢alih Board regio tn¢luding Royal Glatrrflrgan Hospitsl and oth¢r local health and inpatient services empowering people to use iheir voice and defend their rights and responsibilities. Independ¢nt community advocacy for people with rnentsl health problems Struggling to have their voice heard by StAtOry %rviees. ¢.g., social Services. SuppornDg ve13% aAd ml¥ldajS receiving it)patient tnental health care with fll)anci31 difficulti¢s. Carers Servlces wOrkg with carers who are exposed to loneliness and Isolatio deliverillg a range of w¢llbeing initiatives to ¢x¢at¢ a sense of belonging in communities, mattering as individuals an& $akIng out on p¢opl¢'5 behalf when th¢ir rights are not upheld. Public beTretlt We have complied with the thity in 17 of th¢ 2011 Cbarities Act have due regard io 8uidan¢¢ published by the Conunission in resp¢ct of our duty to provide public btneflt. Volunteer$ W¢ have two volunteer roles which include t¥)ard voluttteers (12) and sdent Coullsellors126). )ng term objectlves The charity Co-produced ivs 2025-28 strategy during 2024-25 and five 5traiegy prioriiies w¢re agr¢ed. These are sho1 above. Page 3
CWM TAF MORGANNWG MIND GISTERED NUMBER: 116541083 PREVIOUSLY KNOWN AS MERTHYR AND THE VALLEYS MIND REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 025 ACHIEVEMENTS AND PERFORMANCE Chr5tble Ac¢ivitles Summary of Athievements and Performanee The eharity has work¢d extremely ld over the past year to reach as many people as possible. as we know our serviccs make a sigmficant differeD¢e to people's lives. W¢'v¢ abo focusscs on increasin8 oiir incoIne. extcnding our support and enhancing our govemance and COTW)ral¢ functions. In addition, we consulted wilh hundreds of people and professionals across the region in developing a rw, 3-year strat¢gy for 2025-28. Thi$ strategy will provide clcar direction and focw for the organisatiot) and exciting service d¢v¢lopment opportuniti¢s. In developing ihe strategy. we hav¢ increased and de¢pened our partnerships. and this will help provide more holistic support to help reduce some of the tssu¢s that contribut¢ to pry)r mental healt such a5 financial challenges. Iwusing, education aDd employtnellVunemployrnenL How We Me8sure Sutetss Cwryn Taf Morgannwg Mind apply a variety ofdifferent measures across ow range of services to demonstrate suc.cessful outcomes deliv¢r¢d by our servic¢, we apply th¢ Mind Outcomes Tootkit wbich allows us to ieport on our impact to conunissioners and grant fimdeTS. W¢ have develop our Theory of Change, methodology. eDhall¢ed resources, centtalised data processes. deVeld wlicy and coutinue to monltor and evaluate our effectiveness. FINANC REvw Pr&ncip•l funding 5our¢es W¢ would like to thank Bridgend County Borough cou11. cl Taf Morgannwg UniveTsity Health Board. Merthyr Tydfil County Borough Coun¢iL RJK)ndda c)In Taf Couw Borough Coullcil, ArtDed Forces Coyenant Fund. Henry Smith. the Oak Foundation aTKI Mmd National for th¢ir rontinu¢d investsneni in our setvices. Reserve$ poliry Our Fre¢ li¢s¢rves showTr in our 2024_2025 accounts are £634,223 which is above the agreed tsrgeted re5¢rv¢s policy of £261,950 bui is considered a prudent level of reserves given the curreni ecoTh)mic environmeni. Th¢ Tnte¢S have idenlifi¢d the cl15 n¢¢ds. key risks and have ideniified key elements to ttiitsgatt andlor manage those riskK as follows.. l. Finaneial. Resilience- investing reserves wisely in prowty and th¢ development of a viable social erAt¢Tpfise 2. Maintaining a skilled workforce- wellbeiD8 initiatives and job evaluatiOD 3. R¢putational risk - people pres¢nting with high¢r d¢grees of Deed 4. Competition from new providers of rnentsl health seryices Flnanri41 Re5ilien¢¢ Th¢ chariry's CEO and leadersbip tearn work with the board" to ¢on5ider bow to enhance our fu)ancial resilie¢. This includes how we can enhallce our systems and prrt&sses to reduce risks and wbere we can save nM)ney. gain new incotne attd div¢rsify our incorne. FUTURE PLANS We ar¢ tsking fonwdrd Pla to Stsstsinably deliver our straiegy and have so far gained fjJnding develop gteps 1-3 of our Stepped Support S¢rvice, which includes Etional Listening and Support and Single Session Therapy. We also piloting the use of Supported Self Help to increase school attendan¢¢ in Rhondda C10 Taf and MerthT Tydfil. Page 4
CWM TAF MORGANNWG MIND GISTERED NUMBER: 06541 PREVIOUSLY KNOWN AS MERTHYR AND THE VALLEYS MIND REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 21125 STRucfuRE. GOVERNANCE AND MANAGEMENT Governing document Th¢ ¢harity is Controlled by its governing documen( a deed of and cons¢itute5 a limited company. limited by guaranree, as defjned by the Compani¢s Act 2006. Cwm Taf Morgatll)wg Mind5 governing documents are it5 MeJnoraThdum and Articles of A550ciation (atri¢Dd¢d 23rd O¢tober 2015). The Organisation has been ill¢orpoTrted since 1st July 2008. Recruitment apptsintmeDt of trnslees All applications bave to b¢ rettwned to the Board SecEetariat by post and arc invited ill ftir fornBI discussions get to know the charity and their roles and r¢5ponsibilities. these dis¢ussions are led by the Cbarity Cbainnao. Depettdll o skill. knowledge. experience and suithbility, they will b¢ interviewed by ihe Trustee Board, or it5 d¢legated deputies. as part of the appointment process. The Chief Executive Officer will arrange a m¢etin8 with the newly appointed trStee$ to arraThg¢ an induclion and provide insighL Orgallis•tioTrl struclltre Cwm Taf Morgannwg Mind have a Trustee Board who nxet quarterly and ryonsible for overall charity governance. At preseni the Board has several professional members from a variety of ba¢kground5 relevant to the charity as well as otheT Twstees wih skills that ar¢ invaluable io the Organisation. The Trustee Board may develop sub-eommittees to lead specific or8anisaiional developments in line with its duti¢s under the Mind Quality Mark, a quality framework endorsed by the Chatity Commission in England and Wales. The Board delegaie straiwc managetnent the CEO WI 1$ accountsbk ftsr delivering on our vision, mission values and goals. The CEO maintains 5trat¢gic relationships with our wrnmissioners oi'purchasers of services.. The CEO manages and provides leadership to the Straiegic Ikadership and Management Gioup (SLMG). with support and superyision in lin¢ with Mind Quality MaDa8etnent {MQM) and organisational policy. ltsduttlon and tralnlng of new trnstees Ttwstee5 are already familiar with the prnctical work of the chan.ry and ar¢ encouraged to spend time with'n the Organisation. Addilionally, new trustees are inviied and croUraged io attend a seri¢s of short infornul training s¢$5ions to familiarise thernselv&8 with the charity attd the coniexi With whL"ch it operates, these will be carried ou¢ within ttrle organisarion.The5e ar¢ jointly led by th¢ Chair and CEO of the ¢Ilty and cover.. - The obligations of TnL4tee5 - The ain documents which sei out the operntional fratnework for the charity in¢luding the m¢rnQratUrn and Articles of Association and the cuNen¢ straTrgy. - R¢sourcing and the curreni finaneral posrtion as set oui tn the latest published ac¢owits. - Future plan5 and objectives In addition, the Trn$te¢ Members aTe offered a stru¢turnl learning and d¢velopnni programme. Th¥ Clwity CommissioD publtcallon 'The Esseorial TnLStee" is distyibut¢d to all the new Iste¢S along with the latest financial statements. and minutes of the three previous Trustee Board tnttiings. Cwin Taf Morgannwg MÈnd hay¢ produced an induction prograrnme, which 1$ cortstsntly updated and implemeftted. Organisational governanc¢ processes aTe followed inlin¢ with the Cbarity Con]mission and the Mind Quality Mark standards. Key managernent remuner*tiDD The charity sets its pay Strucr¢S using market intrlli8ence, c05t of living rises are det¢nnin¢d by the Board of Truste¢$ in litie with the cbarities affordability and SCOPiDg of the public and clwity sectors remuneration beDcbmarks. Wld¢r network Our affiliation to Mind and workn.ng in collaboration with ihe Mind Nenvork means that we are strategically aligned io the national priorities in Mind and therefore work to achiev¢ a sustainable nerwork, foT which we play a key role at Dational and local level. P4¢5
CWM TAF MORGANNWG MtND EGISTERED NUMBER: 06541(183 PREVIOUSLY KliOWTrI AS MERTHYR AND THE VALLEYS MIND REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 STRUCTUBI, GOVERNANCE AND MANAGEMENT Rel¥Jted partles Cwm Taf Morgartnwg Mirtd is affiltated to Mind trhe National Mental Health Clwity) via a federated chariry strnctyre. Cwm Taf morga[WE Mind has fomwlly contracred with MitKI via th¢ Federation Agre¢rn¢nt which specifies its fornul r¢lationship. The charity h15 clos¢ relatiODsbips with the followiDg organisations: Rehted partles- Membership. The charity has close relationships attd is a member of the following organisaiions: l. Wales Coun¢il for Voluntsry Action IWCVA) 2. Bridgend Association of Volwitary Organisations (BAVO) 3. RCT Interlink 4. Voluntary Action MetthJT Tydfil (VAMT) Publi¢ Sector Commlssi•ner - Cwm Taf Morgarfftwg University Health Board - M¢rthyT Tydfil Couw Borough Council - Rhondda Cynon Taf County Borough Council - Bridgend Cowity Borough Council Partner OrgaDlsations - Mind Cymtu- The Voice of tbe Mind Network in Wales - tA)cal Minds attoss Wales and England - Trivallis Housing Association - M¢rthyT Tydfil Housing A5s0ciatio - MerthyT Vall¢ys Homes - Cynon Taf Housing Group - Citizen5 Advice covering RCT. MerthyT Tyfil and Bridgend cowitses Futtders {Grants) - Oak FoU[atIOn - Henry Stnith - Anned Forces Covenant Fund - Wales & West Utilitie5 Moondanc¢ Foundation - Garfield Weston Foundation - Illdividual donor& SpOrS and fithisers. The organi5ation is a ttWDber of the Cwm Taf 3rtr Sector Mental Health F¢)rum and Iw representation on vario sub-groups and many ¢ommunity groups inGluding'. - One Mind in Wales - Mental Health Partheiship Board . Cwtn Taf Morgannwg Reyonal Pattsership Board Rlsk management The trStetS apply a risk nwiagetneni framework which will comprise an annual review of the risks the charity may face, atmj the ¢5tsblisl]rneni of sy5t¢ns and wocedwes to rnitigate nsks identified. To implement procedures designed to minimise aDy Potential impact to the charity should those risks arise, sev¢ral poli¢i¢5 hav¢ been intrluced aThJ adop*d by the board of trustees which are focused on the Organisational SNcwre and risks a5s0¢iat¢d th¢r¢in. Pag¢ 6
CWM TAF MORGANNWG MIND GISTERED NUMBER: 0654108 PREVIOUSLY KNOWN AS MERTHYR AND THE VALLEYS MIND REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 REFERENCE AND ADMINtsfRATtVE DETAIts Registered Company number 06541083 IEn8land and Wales) R¢gl$tered Charity 1123615 RegSsteTed ofTrt 88 High Street Merthyr Tydfil CF47 8UG Trustees Councillor Cliv¢ T Ji)ne5- Chair Mr Gerwyl Butler . Tr¢&5urer- iesigned 22nd Sept¢tDber 2025 Ms Lisa M Thomas- Tesign¢d 23rd June 2025 Ms Briony Hunt- resigned I lth Juoe 2024 Ms Joanna Markham Mr BettjaJDin H Trewartba Ms Joanne Trewartha- resigned 18th Novemb¢r 2024 Mr David Price- appoillted 8th July 2024 Ms Lynnette Th0[n- appointed 8th July 2024 Mr James All¢n- appoint¢d 8th luly 2024- resigDed 3rd February 2025 Mrs Helen Whiffi¢ld-WilliarDS- appointed 8th July 2024 Mr lan John Dimeni- appoinied 8th July 2024 Mrs Helen Anne Smith- appoinled 8th July 2024 Consllltanti Simon Lambert (HR) Charity CEO And daY-ld•Y mxn•g¢rneAt Ms Lucy Reynolds (Interim) Mr Kierdn Harris (July 2024- d} IDd¢pendent EumiDer R.1. Knoyle ACA FCCA Baker Knoyle Chartered Accountsnts Orbit Busin¢5s Centrc MerthyT Tydfil CF48 IDL BaDker5 Barclays Bank Pl 47 High Street Merthyr Tydifl CF47 8DL Approved by order of the board of truste¢s on 27 November 2025 and sigrtd OD its ixbalf by. C T Jon¢s- Trustee Page 7
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CWM TAP MORGANNWG MIND GISTERED NUMBER.. 06541083 IDd¢pendent ex#mSner'5 report to the trustees of Civm Taf Moryantswg Mind ('the Company, I report to the ctw.ity It$e& on my examinauon of the accounts of the Company for the year ended 31 March 2025. Responsibilities and basis of report As the charitys trustees of the Company (ar also its directOTS for the PUTposes of company law) you are responsible for the pr¢paration of th¢ accounts in accordance with the requirenKnts of the Cornpanies Aci 2006 ('thc 2006 Acv). Having satisfied myself thai the a¢¢ouThts of the Company are noi required b¢ awlit¢d under Part 16 of the 2006 Act and ar¢ ¢ligible for illdepeDdettt examinatioll. I report ill respeci of my examinats"OD of your charitys accounts as carried out under Section 145 of the Chatities Act 2011 {'the 2011 Acf). In carryÈng out my examination I bave followed the Dfftrections given by th¢ Cbarity Commission under Scction 145(5) (b) of the 2011 ACL Indep¢DdtDI ex%wip¢r's $ts¢etnent Since your cbaritys gross income exceeded £250.(KKI your examiner muu be a member of a kn.sied body. I can confu that l am qualified io undertake th¢ ¢xaminaiion l am a member of th¢ Instite of Chartered Accountants in England and Wales. which is one of the listed Ixxlies. I have ¢ompl¢ted rny examinatlOD. I ¢oDfwtll that no matters have come to my attetttLOtt ill CODnection witb the examination giving m¢ cause to belicve: accounting records were MTrt kept in respect of the Cowy a5 r¢quired by Section 386 of th¢ 2006 ACL or the accounts do noi accord with those records- or the accounts do not comply wilh the accountiwtg requiremenrs of Section 396 of the 2006 Act other th8n any requirement that the accounts giv¢ a true and fair view which is t a matter considered as part of an independent examination. or the accounts hav¢ not been Prepared in X¢OrdaD with the method5 and principl of tbe StatenKnt of Recommended Practice for accounting and reponing by chariti¢s (applicable to charities preparing th¢ir accounts in ¥cordallce ihe Ftnancial RqrtIllg Stsndard applicabl¢ in the UK and Republic of Ireland (FRS 102)). I have concerns and have corne across no other rnatter% in connection witb tbe examtnation to which atteniion should b¢ drawn in this report in order to enable a proper under5tandiDg of ihe accounts to be reached. R.1. Knoyle ACA FCCA Baker Knoyle Chartered Accountsnts Orbit Business Centre m¢rth Tydfil CF48 IDL 27 Novemb¢r 2025 Page 8
CWM TAF MORGANNWG MIND REVIOUSLY KNOWN AS MERTHYR AI¥D THE VALLEYS MIND STATEMENT OF FINANCIAL ACTtVlTIES CORP0114TING AN INCOME AND EXPENDtTURE ACCOUN FOR THE YEAR ENDED IMAR H 2112 2025 Total funds 2024 Tot21 fund5 Unr¢strieted Restricted funds Notes INCOME AND EIYDOWMENTS FROM DonatiODS and legacies 10,092 45.678 55,770 144,556 Chritble aetlvltks Recov¢ry S¢rvices Housing Support S¢rvices Enterprise 164202 208.755 372.957 477.403 141.488 357,844 236,791 120,553 357.344 Qiher tradtng aciiviti&s Investment income 4.970 18.237 4.970 18.237 9,522 12,189 Total 434.292 374.986 809,278 ,143,002 EXPEI¥DITURE ON Charltable •ttivities Core AdJnI"S1[al1oll R¢covery Services Housing Support Services Primary Care PT¢vention Enterprise 16.559 128.060 6.233 163.654 221.436 48.437 180.213 349,496 54.670 272,722 544.994 126.557 48.156 364.594 238.793 100,560 339.353 389,645 534,087 923.732 ,357,023 NET tNCOMEIIEXPENDtTURE) Transfers between furtds 44.647 (50,177) (159,101) 50.177 (114.454) (214.021) 18 Net mDvemeDt in f¥nds (5.530) {108.9241 1114,454) (214,021) REcoNClATION OF FUNDS Totsl fimd5 brought fonvard 839,410 270,444 1.109,854 1,323,875 TOTAL FUNDS CARRIED FORWARD 833,880 161,520 995,400 1.109.854 The notss fonn part of these fi[wla1 ststements Page 9
CWM TAF MORGANNWG MIND GISTERED NUMBER: IJ6541083 RE0 LY KNOWI¥ AS MERTHYR AND THE VALLEYS MIND BALANCE SHEET 31 MARCH 2025 2025 2024 Notes FIXED ASSETS Tangible assets 13 1,179 1.474 CURRENT ASSETS Debtors Cash at bank 14 52.884 1,038,390 167,562 998,795 .091274 1.166.357 CREDITORS Amounts falling du¢ within one year 15 {97.053} (57,977) NET CURRENT ASSETS 994,221 1,108,380 TOTAL ASSETS LESS CURRENT LIABtLITIES 995,41J) 1,109,854 NET AssErs 995.4 1,109.854 FUNDS Unresrricted fvnds Restricted fijnds 18 833.877 161.523 839.410 270,444 TOTAL FUNDS 995.400 1.109.854 The charitable company is entitled to exen¥tion from audit und¢r S0 477 of th¢ CoJDpani¢g Act 2006 for th¢ year ended 31 Mar¢h 2025. The members have not r¢quired the company to obtain an audii of its financial stsiements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006. Th¢ trustee5 acknowledge their responsiThilities for {a) ensvring that tb¢ charitsble ¢ompany ke¢ps a¢¢ountithg records ihai comply with SeciioJL$ 386 and 387 of the Compani¢s Act 2006 and preparing financial ststements which give a true and fair view of the state of affair5 of th¢ charitable cornpany as t tbe end of eacb flltsllcial yw and ol" its surplus or deficii for each financial year in accordance with ttrLe r¢quir¢rn¢nts of S¢¢tions 394 &nd 395 and which otherwise comply wth the requirements of the Compallies A¢t 2006 relating to fiNancia] sratements, so far as applicabl¢ to th¢ ¢haritable con¥)any. (b) These finaDcial ststements have been prepared ID accordance with the provisions applicable to charitable compatiies subject-to the small companies regime. Th¢ financial staternenis were approved by the Board of TnleeS and authorised for issue on 27 November. 2025 and were signed on its behalf by: C T Jones- Tn1 Ifhill The notes forn) part of these fiDala1 staiemeDts Page 10
CWM TAF MORGANNWG MIND PREVIOUSLY KNOWN AS MERTHYR AND THE VALLEYS MIND CASH FLOW STATEMENr FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Casli flow$ from operatlng actlvi¢ies Cash generated from op¢rations 21.358 {201.826) Net cash pmvided byl(used in) operating activiti¢s 21,358 {201,826) Cash tIDws from investing activities Interest received 18.237 12.189 Nei Cash prnvided by investing activities 18237 12.189 ChaDge ID casb Dd cJh equlvxl¢Dt$ i the rep•rtlng perlod Ca$h and e#$b equivalents at tbe beginning of the reporting period 39,595 (189,637) 998.795. 1,188,432 Cash and cash equlvilents It the end of tbe reportiDE period 1.038.390 998.795 The noles forn] part of these fironcial 5ts1ements Page 11
CWM TAF MORGANIYWG MIND USLY KNOWN AS MER VALLEYS MIND NOTES TO THE CASH FLOW STATEMENT FOR ThE YEAR ENDED 31 MARCH 202 RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATtNG ACTtvrTIES 2025 2024 Net ¢xp¢nditure for the reporting period (•5 per lh¢ Sttettttt •f Fln4n¢ll Actlvitles) Adjustments for: Depreciation charg¢$ Interesi received Decrease In debtors IrtcreaseJ(decrease) Ill creditOTS (114,454) (2 14,021) 295 (18.237) 114,678 39,076 (12,189) 72,711 151,771) Net C4sh pr•vid¢d byl(uYd In) operth)ns 21.358 (201.826) ANALYSIS OF CHANGES IN NET FUNDS At 114124 Cash flow At 3113125 Net ea$h Cash at bank and in band 998,795 39.595 1,038.390 998,795 39,595 1,038,390 Tot*1 998.795 39.595 1,038,390 The notes ftjrni part of th¢x fitwicial ststements Page 12
CWM TAF MORGANNWG MJND USLY KNOWN AS MERTH VALLEYS MtND NOTES TO THE FINANCIAL STATEMENTS FOR THE YT AR ENDED 31 MARCH 202 AccouNfiNG POLICIES Orginizatlonal stl¥8 The fjnancial ststemenis of the charitsble ¢ompany, whi¢h is a public benefit entity under FRS 102. have been prepar¢d in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities.. Statement of Recomm¢nd¢d Practice appb"cable to clwities preparing their ac¢ounts in accordance with th¢ FiDaneial Reporting Stsndard appIlbI¢ ID the UK and Republic of trelatmj {FRS 102) (effxtiv¢ l January 20191,, Financial Reporting Stsndard 102 Tr Finan¢ial Reporting Standard applicabl¢ in the UK and Republic of ITeland' and the Companies Act 2006. The flnancial stsiements have been prepared under the hislorical cost CODv¢ntion. The organisation is a couyuy lin)it¢d by guaratttee and a re8isred clwity, both r¢gister¢d in Ell[ & Wales.The directots are the trustees and ar¢ set out on page 9. they forni a board of trustees which sets the Strdttgic dtrection of the cbariry and monitors the perfollnanee Of the organisation against ifs goals. The aitns and obj¢¢tlV¢5 and rulcs for Eovernance are sei out in the charitable compan$ Memornnthim and Articles of Association. Ine(me Ail income is recogtllsed in the Ststement of Finan¢ial Activities once the cbariry has entidemeAt to the funds. it 15 probable that the incotne wll be received and the amount can bt measured reliably. The following 5pe¢ifv poli¢ies are appb"ed: Voluntary Sncome received by way of grants. gifts or donation is iD¢luded iti 11 ott receipt unless it is subjeei to a conditlOD when it is treaied as deferred iocome. Deferred incorne. Iricom¢ or grants received ill advance are held as deferred irKome and caTtied forward to Djre accoLmting periods io be releas¢d wh¢n th¢ defined purposes of the WOTk or project have been completed, approved or certified. Gifts In klnd are includ¢d ith the income atKI expeTJdifure account wh¢r¢ th¢y ar¢ appli¢d in carying out chan"rable activities, where the company would othenvise have io purchase th¢ donated fa¢ility and th¢ b¢n¢fit is both quaniifiable and material. The quantifiable b¢nefii is shown as tK)th incoming aThl expended resources withL"n the appropriate fijllds. Where the gift 15 an asset it is treated as InMe and (aken to stock or red assets as appropriate. The value of sthvices PTovided by volunte¢rs is not quantified. Investment Income is included when re1v¥ble. Trding intomt is reColSed when earned. Government Gr*Dt Intome comprises specific project relat¢d ditc¢t support. See note 2. IncoTning Resource$, for amounts. Expendlture Liabilities are recogtiised as expendithwe as sooo as tbere is a Itgal or constructive obligation cotnmitting the charity to that ¢xpenditure. Lt is probable a ttatt8fer of economic b¢nefJts will be required in s¢ttl¢m¢nt and the amount of the obligation can be m¢asur¢d reliably. ExpeTrditure is accoulltrd for on an accruals basis and t been classified under headings that aggregate all cost related to the category. Where cosrs cannot be directly attributed to particular head they have been allocated to a¢tivities on a basis coDsistent with the use of resources. Charitsble expendiDJre comprises ihose costs incurred by the charity in the delivery of its aCtiVLties and services for its ben¢ficiarics. It ineludes the costs that can be attribuied directly to th(15¢ a¢tiviti¢s and th05¢ ¢OSts of an indirect llaNre necessary to 5UPPOrt thenL Page 13 continued...
CWM TAF MORGANNWG MIID LY KNOWTr4 AS MERTHYR AND THE VALLEYS MIND RE NOTES TO THE FINANCIAL STATEMENTS- Continued FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLlCtES- eontlnued Expend1re AU expenditsre 15 allated berweett the categoTies of the SOFA on a b¥1$ d¢S1¢d to r¢fl¢ct the us¢ of the resource. Costs relating to a particular activity are allocated directly. others apportion¢d b¢twe¢n tegOrj¢S on a basis that fairly reflects their w8¢. Cbaritable activilies Durmg the year the charity revised its chan"table activities include the four main servic¢ functions tog¢ther with Core Administration. Th¢ four main service fimctions being Recovery Servi¢e, Housing Support Services. Primary Caff Prevention and Enterprise. Prior y¢ar SOFA activitscs have also been revised io refl1 th¢ change. Tangible fixed assetg Depretiation hs provided at the followin8 annual rdtes in order io wri off each asset over its estirnat¢d usefvl life. Plant and n¢illery Motor vehicles 20% on reducin8 balance and 15•A on reducmg ba]an¢e 25°A on cost Tangible Fixed Assets are includ¢d in the balance sheet at historic cost less accumulaied depr¢ciation. Grant receipts wkn.ch fijttd fixed asset acquisitions are tsken to restricted funds and the appropriate d¢pTeciatson charg¢ 15 made agaill those futtds over the expected weful lit¢ of the asseL TAxation The charity is exempt from COOrati1 tsx on its chan"tsble activities. FuDd accfjuntitig Unrestricted fvnds Can used in accordance with%the charithle obj¢ctiV¢5 at the dIretion of the tslee$. Resthcted funds can only b¢ ed for parttcular restricted purposes within the objecrs of the charity. Restrictions arise when specified by the donor or wh¢n fvnd5 arc rai%d for particular restrtcted purposes. Designated fvDd$ are tbxe unrestricted fuJKls set asid¢ by th¢ Board foT a speeifie purpose. Further explanation of thc nature and purpose of each fiuid is included in the N)te$ to the financial statements. P¢n$10 eosts Pension costs ar¢ ¢ontributions made by the charitable wrnpany to both employees own personal pension schemes together with ¢ontributions made io the employees government work pla¢¢ pension schem¢. Le45¢d ass¢tS Fixed assets acquired under finance leases are included in the balance sheet at historic ¢ost l¢ss accumulat¢d depreciation. The present value of rentsls is shown as a liabiliry. Interest payable in each period 15 cbarged as atl expended resource in proportion to the amount outstandith8 under the lease. operating lease rentals are Charged as exp¢Dd¢d r¢sourcts as IU[red. Ex-Grat5 Termlnitlon Paymen¢ Tennination b¢n¢fits are paydble wbett emplolent is tenninat¢d by the Charity before the nomkl retirement dale. or whenever an employ¢e accept5 voluntary redundancy in exchange for these benefits. Th¢ Charity r¢cogniscs termination bellefirs wh¢n It is dernonstrably Conllllitted to eitber (i) (erniinating the employrnent of curreni employees according to a d¢tsiled formal plan wiihoui pOlb]lity of w¢hdrawal or lil) providing temirtation benefits as a result of an off¢r made to eDcourag¢ voluntary redundan¢y. Deblors And f redltors rttelvblelpayable wi¢hlTh one ye•r Debtors and creditors with no statcd inter&8t rate and receivable or payable within one year are rKorded at trdnsaciion price. Page 14 continued...
CWM TAF MORGANNWG MIND REVIOUSLY KNOWN AS MERTHYR AND THE VALLEYS MIND NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 ACCOUThTING POLlCtES- eonti*ued Going ¢onetrn In common with many othei similar organisaiions. we find ours¢lv¢s in ihe situation where some 8rant-fuThded projecrs and guarant¢¢d CODtRCt-tfTs are due to ctKI with our financial yeat. We are also waiting on th¢ ouf¢ome of a number of further grdDt application¥ and therefore. currentty, have no guardntees as to what our exact 25126 funding Str¢an may look like. The tryst¢¢s are confideni that sufficient fjJnding sources will b¢ agreed to allow the organisation to move fonvard in a similar matmer to recent yeats. bave plaDtJed altertvdtive operating models. should income streams be lower than envisag¢d. The trnsie&% thereftire feel it appropriate to Prepare th¢ a¢Wits on a going wn¢ern ba5lS. DONATIONS AND LEGACIES 2025 2024 Donaiions Gift aid fjran 10.036 134 45.600 7,426 18 137.112 55,770 144,556 Grants received. Ilded in the abov@ ar¢ as follovts.. 2025 2024 Cwm Taf Morgannwg University Health Board MfND (NAMH) Henry Smith Garfi¢ld Western 64.754 47,158 25,200 25.6(K> 20.(KJO 45.6 l37.112 2025 2024 Fundraising events Training 4.970 7.252 2,270 4.970 9.522 P#g¢ 15 Continued...
CWM TAF MORGAN]YWG MIND PREVIOUSLY 'OWN AS MERTHYR AND T VALLEYS MIND NOTES TO THE FINANCIAL ST TEMENTS- ¢oDtlnu¢d FOR THE YEAR ENDED 31 MARCH 2025 INVLSTMENT INCOME 2025 2024 Deposit a¢¢ount int¢r¢st 18237 12.189 INCOME FROM CHARITABLE ACTIVITIES 2025 2024 Aciiviry Recovery Services Housing S)rt Services EnterISe Charitabl¢ ¥tivity i9¢ Charitable #ctivhty incom¢ Charitable a¢rivity income 372,957 477.403 141.488 357.844 357.344 730.301 976,735 CHAIUTABLE ACTIvrrIES cosrs Support costs (see note 7) Direci Costs Totals Core AdmÉnistration Recovery Services Housing Support Setvices EntetTJris¢ 161.874 307,047 47,910 304.819 18.339 42.449 6,760 34.534 180.213 349,496 54,670 339,353 821.650 102,082 923,732 SUPPORT COSTS Human Governance costs ManagenYDt FiJonee Totals Core Administration Recovery Servi¢es Housing Suppon Services Enterprise 9.935 25.289 2,941 18,709 3,312 8.430 980 6.236 3,312 7,098 2,312 6.236 1.780 1.632 527 3.353 18,339 42,449 6,760 34.534 56,874 18.958 18.958 7,292 102.082 NET INCOMV(EXPENDITUBE) Net incomel{expenditure) is stsied after clw8(crtdi1g)". 2025 2024 Depreciation- owned assets P¢nsion contributsoDS Accountancy Fees Other PayToII & A¢countancy Seryices Redundancy Payment Independent Examiners Fees {2024 Audii Fees) 295 29.582 3.800 2.292 8.599 1200 49.443 3.564 2.795 17,091 Page 16 Continued...
CWM TAF MORGANNWG MIND REVIOUSLY WN AS MERTHYR VALLEYS MIND NOTES TO ThE FINANCIAL STATEMENTS- contiDu¢d FOR THE AR ENDED 31 MARCH 202 TRUSTEES, REMUNERATION AND BENEFrrs Tberc werc tntstees, renXera11Oll or other benefits for the y¢ar ¢nd¢d 31 March 2025 nor for the year ended 31 Mawh 2024. Trusttts, expenses One tnte¢ r¢¢¢ived expetL5e pajinents totslling £151 (2024: £79) for the year. These payments were reimbursement of travelling ¢xpens¢s. io. STAFF COSTS 2025 2024 Wages and salaries Other PCDSIOII Costs 619.123 29.582 935.121 49,443 648.705 984.564 The average monthly number of employees during the year was as follow5.' 2025 21 2024 39 Full time equivalent The number of employees whose enwloyee benefits {¢X¢111ng ¢mployer pension w5ts) ¢x¢¢ed¢d £60,000 was.. 2025 2024 £60.001- £70,000 Average employtt head count for the year was 21. locluded within wages and 5alarics is Employets. Nl contributions of £42,376 {2024:£68,985). Included within other costs is £Nil {2024:£17.091) for redundancy and other costs paid during th¢ y¢ar. Included within wages and salaTies is £8.599 for Yedundancy paid dwing the year. The key management of the charity comprises the Chief Executive Officer, ]lUding the Interim Executive Offieers.The totsl benefits of the the key management personnel of the charity was £72.999 {2024.. £89.920). Page 17 continued...
CWM TAF MORGANNWG MIND ou LY KI*OWP4 AS MERTHYR AND THE VALLEYS MIND TES TO THE FINANCIAL STATEMENTS- eontinued FOR THE YEAR ENDED 31 MARCH 2025 ii. COMPARATIVES FOR THE STATEME OF FINANCIAL A1VITIEs Unr¢stricted Restri¢t¢d Total nds II¥COME AND ENDOWMENTS FROM Dolla(ioDs alld legacies 137.112 144,556 Cbaritable Activities Recovery Services Housing Support Services Enterprise 316.302 141.488 477,403 141,488 357,844 357.844 Oth¢r trading activities Investtnent incom¢ 9,522 12.189 9,522 12.189 Total 548.1 594.902 1,143,002 ExPE1lTURE ON Chxritable activities Core Administration Recovery Services Housing Support Setvices Primary Care Prevention Entetpris¢ 272.722 130.353 896 2,167 302,476 272,722 544,994 126,557 48,156 364,594 414.641 125,661 45,989 62,118 Totsl 708.614 648.409 1.357,023 NET INCOMEIIEXPENDITURK) Transfers between funds (160,514) 100.432 {53,507) (100,432) (214,021) Iyet moveDnt Ill fuDds {60.082) {153,939) (214,021) RECONCILIATION OF FUNDS Totsl funds brought for4Yard 899.493 424.382 .323.875 TOTAL FUNDS CARIUED FORWARD 839,411 270,443 1.109,854 12. AUDrroR & INDEPENDENf EXAMINERS. REMUNERATION 2025 2024 Fees payable to the charity's Ind4w)dent Examiners for the Independent ExalatIOn of thr chatity's financiat $wertlS 1200 Fees payable to the cbarity's Audito for the A11 of the clwity$ fitthDcia] statements 3.600 Amounts payable to Independent Exa(niner (2024.. Auditor) itb relation to aecount5 preparntion, payroll. Pension adtnu)iStration and other services provided the ¢tlty w¢re £6.092 (2024.. £6,359). Page 18 continued...
CWM TAF MORGANNWG MIND REOUs VALLEYS MIND NOTES TO THE FINANCIAL STATEMENTS- ¢0 FOR THE YEAR EI¥DED 31 MARCH 21125 tiDued 13. TANGIBLE FIXED ASSETS Plaut and machittery Motor vekn.cles Totals COST Ai l April 2024 and 31 makn 2025 24,139 29.258 DEPRECIATION At l April 2024 Cbarge for year 22.665 295 5.119 27.784 295 At 31 March 2025 22,960 5,119 28.079 NET BOOK VALUE At 31 March 2025 1,179 1,179 At 31 March 2024 1,474 1,474 14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Other debtors Prepaynents 51,974 910 167,562 52.884 167.562 15. CBEDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Trade creditors Pension Fund Oth¢r Creditors Deferred income Accnjed expenses 12.905 7,399 7,860 5.415 24.398 2.552 45.772 42.633 97.053 57,977 Deferred Ineome 2025 2024 . Opening balanc¢ Movement in the period 5.415 40,357 8.968 13,553) Deferred incorn¢ ¢arTied forward 45,772 5.415 Deferred incorne represents itscome e1ved from contributing agaKies where the contribution was restricted to a fixed time period proJ¢¢t whk¢h ¢xtrn(L5 b¢yond th¢ awrent financial year. Income is deferTed on the basis that th¢ contributiotl was w the project as a whol< th¢ time period of th¢ project was fuuy disclos¢d to th¢ contributing agenci¢$ atwj titne period is certain. The deferred income carried fonvard is analy5ed as ftsllows: Page 19 continued...
CWM TAF MORGANNWG MIND REVIOU Y KNOWN AS MERTHYR AND THE VALLEYS MIND NOTES TO THE FIN IAL TATEMENTS- cotstiothed FOR THE YEAR ENDED 31 MARCH 21125 Is. CREDITORS: AMouNfs FALLING DUE WIThIN ONE YEAR- cOntined 2025 2024 Moondane¢ FOujaIl0D Missing Middle Wal¢s (Mind NAMH) 45.772 5,415 45.772 5.415 16. LEASING AGREEMENTS Minimum lease payinents under noll4ancellable operating leases fall as follows". 2025 2024 Within one year Between one and five years 20.877 37.333 14.967 26.624 58,210 41,591 17. ANALYSIS OF NET ASSETS BETWEEN FUNDS UDresthcted Fund5 Restticied Funds 2025 Totsl Funds 2024 Total Funds Fix¢d Ass¢ts Net Cwrent ASSet{liabjtie$) 1,179 832.698 1,179 994,221 1.474 1.108,380 161.523 833,877 161,523 995.4 1,109.854 Page 20 tllinued...
CWM TAF.moRGAWG MIND REVIOUSLY KNOWN AS MERTHYR AND THE VALLEYS MIND TES TO THE FINANCIAL STATEMENTS- FOR THE YEAR ENDED 31 MARCH 2025 ntinued 18. MOVEMENT IN FUNDS Net movemeni in funds Transfets benveell fund5 At 3113125 At 114r24 Uorestrlcted fw General fid DeSialed Fund Social Enterprise Development Fund Core Management Team Capacity Fund Absence Capacity Fund 601.461 1.474 156.475 60.IX 20.0(KI 44,939 (295) (12.177) 634.223 1.179 118,475 60.000 20,000 (38,000) 839.410 (50,17n 833,877 Restricted funds Knowing Me Knowillg Mind Grant- YMM Cwm Taf Morgannwg Univetsity Health Board Merthyr Tydfil Car¢rs (MTCBC) Residential ReSLlience RCTCBC Crisis Fund Oak Foundation (New Fund) conneCr Fund Whol¢ School Approach MH Covid Response Entw]ced Residential Re5ilicDCC WCVA TRSF 2 Grant MTCBC Wellbeing Grant Her]ry Stnith (Advocacy Project) National Lottery Communiry Fulld {Safeguardin8 Support) Missing Middl¢ Wale5 Carers Short Break5 Proj¢¢t IRIF) Wales and West Utilities GroDt frdrfield Westem Foundaiion Car¢rs Trust Supptsrt Fund Wales 8.381 (5.155) 3.226 137.888 (144.270) 1,784 68,270 (1,784) (2.000) 61,888 2.0(Xl 4,1(Kl 45.910 3,140 5.932 25.172 4,100 (45.910) 3.140 5.932 25,172 (2.IKM)) 10.772 17,359 9,576 (10,772) 17.359 11.459 1.88J 1.750 6.845 {9.428) 2.012 7,678 (3,281) (600) 5,576 6.599 io.¢xKI 6.599 10.o(K) (MTCBC) 1.149 (1,1491 Knowing Me Knowing Grant. CounselliTJg 10.102 (3.030) 7.072 270.444 (159,098) 50.177 161,523 TOTAL FUNDS 1,109.854 (114.454) 995.4N) Page 21 continued...
CWM TAF MORGANNWG MIND PREVIOUSLY KNOWN AS MERTHYR AND THE VALLEYS MIND NOTLS TO THE FINANCIAL STATEMENTS- eontfiDued FOR THE YEAR ENDED 31 MARCH 2D25 18. MOVEMENT IN FUNDS- coDtiMued Net niov¢m¢nt in fid4 included the above ate as follows." In¢omin8 resources Resources ¢xp¢nd¢d Movement in funds Unrestrlcted funds General nd Dcsignated Fund 434.291 (389,352) (295) 44,939 (295) 434.291 (389.64n Restricted fvnds I(nowing M¢ Knowing Mind Grant- YMM Cwm Taf MorganDwg Ulliversiry Health Board Merthyr Tydfil Carers (MTCBQ Oak FourKlation (New Fund) Enhanctd Residential Resilience H¢nry Smith {Advoca¢y Project) Naiional iott¢ry CornJnunity Fund (Saf¢8uarding Supp)rt) Missing Middle Wal¢s care Shon Breaks Project (RIF) Wales at)d West Utilities Grani Garfield Wesiern Foundation Car¢r5 Trust Support Fund Wales 39.205 (30,824) 8.381 169.691 20.578 (313,961) (18.794) (45.910) (2.OLNJ) (23.717) (144,270) 1,784 {45.910) {2,000) 1.883 25.600 19,428) (25,060) (24,521) 11,020) (10.OLKI) (9.428) 2,012 600 6,599 10,000 27,072 25,121 7,619 20,000 (MTCBC) {3.851) 1,149 Knowing Me Knowiog Mtnd Grant- Counselling 35.101 (24,999) 10.102 374,987 (534,085) {159,098) TOTAL FUNDS 809278 (923.732) 1114.454) Pag¢ 22 ¢ontinued...
TAF M0RGANwG MIND REVIOUSLY KNOWN AS MERTHYR AND THE VALLEYS MIND NOT TO THE FINANCIAL STATEMENTS- fontinued FOR THE YEAR ENDED 31 MARCH 2025 18. MOVEMENT IN FUNDS- continued CompArative$ for mvenhent funds Nei nxsvement Transfers beNeen Ar 3113124 At 114r23 Unrtstrieted fvnds General fujid Designated Fund Private Counselling Evaluation Mind (NAMH) Community and Corporate Fundraising Fw)d IWCVA tnatcbl Social Enterpri5¢ Development Fund Core Management Team Capacity Fund Absence Capacity Fund It Takes Balls To Talk (Private Counselling) 566,207 3.243 12.840 4.587 (158,516) (1,769) (230) 193.770 601.461 1.474 (12,610) (4,587) 24,4CK) 195,998 60.0 20.1 (24.400) (39.523) 156.475 60,1KJO 20,(M)O 12.218 (12.218) 899,493 (160.515) I.432 839,410 Restrieted funds Cwm Taf Morgannwg Utiivetsity Health Board Pr¢pare to Care RcTTF Merthyr Tydfil Car¢rs {MTCBQ Ac¢ive Monitoring LMA Fund Restricted Fixed Asseis Residential Resilience RrfcBC Crisis Fund Oak Foundation IN¢w Fund) Connector Fund MTCBC Residellual ResilieDC¢ Projxt Whole School Approach Proj¢ct SPEAK CF in Wal¢s {Mon¢y Matters) MH Covid Response Enhanced Residential Resilie[¢ MurDS Matter (RCTCBC) WCVA TRSF 2 Grant MTCBC Wellbeit)B Grant Moondance Foundation Henry Smith (Advocacy Project) National tATrtt¢ry Community Fund (Safeguarding Suppon) Missing Middle Wales 208.156 16.016 (4.0(K)) (732) 2,843 (1.675) 16.312 (86.284) 4.000 732 (25,262) 137.888 22,419 1.675 (16.312) 4,1(K) 43,961 3,140 4.100 45.910 3.140 1,949 (485) 485 5.932 54.018 5.932 (44.104) (30.5391 (9.914) 30.539 25.172 2.000 6,613 10.772 17.359 12.649 25,172 2,(N)O 4.061 (11,9501 (10.674) 11.950 10,772 17,359 (12.649) 4.910 9,576 1.750 1,750 6.845 8.486 (1.641) 424.382 (53,506) {1,432) 270,444 TOTAL FUNDS 1.323.875 (214,021) 1.109,854 Page 23 ¢ontinued...
CWM TAF MORGANNWG MIND VIOUSLY KNOWN AS MERTHYR AND THE VALLEYS MIND NOTES TO THE FINANCLiL STATEMENTS- Continued FOR THE YEAR ENDED 31 MARCH 21125 MOVEMENT IN FUNDS- comparnti n¢t m0venl in fvDd& ineluded itsthe above are as follows: Inwming r¢50ur¢¢s R¢sour¢¢s exp¢nd¢d Movement in fimd5 UDrestri¢ted funds General fimd Designaied Fund Pftvaie Counselling 548,099 (706,615) (1,769) (230) (158,516) (1,769) (230) 548,099 (708.614) (160.515) Restri£t¢d fund$ Cwm Taf Morgannwg University Health Board Prepare io Care RCTtRTF Merthyr TydfLI Carers (MTCBQ Active Monitoring LMA Furtd Restricted Fixed Assets Residential Resilience RCTCBC MTCBC Residential R¢silience Projeci Project SPEAK CF in Wales (Money Matters) Mums Matter (RCTCBC) WCVA TRSF 2 Grani Moondance Foundatio Henry Smith {Adv2¢Y Project) Missing MJ"ddle Wales Carers Short Breaks Project (RtF) 259.228 {243.212) 14,IH)O) (21,230) (44,314) 11.675) {125.177) 1485) (58,214) (30,538) (21.088) (11.950) {12,649) 120,291) {18,586) {35,000) 16.016 (4,000) (732) 2,843 (1,675) 16,312 (485) (44.104) (30.539) 4.061 (11-.950) (12,649) 4,910 8,486 20.498 47.157 141.489 14.110 (i) 25.149 25,201 27,072 35.0 594.903 (648.409) (53,506) TOTAL FUNDS 1.143.W2 (1,357,023) (214.021) Page 24 continued...
CWM TAF MORGANNWG MIND PREou Y KNOWN AS MERTHYR AND THE VALLEYS MIND NOTES TO THE FINANCIAL STATEMENTS- eontlnued FOR THE YEAR ENDED 31 MARCH 2025 18. MOVEMENT IN FUNDS- continued A current year 12 month5 and prior year 12 InthS combitied position is as follow5.. Net mov¢m¢nt in ndS Transfers between nds Ai 3113125 At 114Q3 UDrestrieted funds General fvnd D¢signated Fund Private Counselling Evaluation Mind (NAMH) Communtty attd Corporaie Fundrnising Fwid {WCVA match) So¢ial Entcrpri5e Development Fund Core Management Team Capacity Fund Absence Capacity Fund It Takes Balls To Talk (Private Counselling) 566.207 3,243 12.840 4.587 {113,577) (2,064) (230) 181,593 634.223 1,179 {12,610) {4.587) 24,400 195.998 60,000 20.000 (24,400) (77,523) 118,475 60,000 20,000 12.218 (12.218) 899,493 (115,871) 50,255 833,877 R¢strl¢ttd funds Knowing Me Knowing Mind Grdnt. YMM Cwm Taf Mor8anDwg Univet5ity Health Board Prepare io Care RCT/RTF Merthyr Tydfil CerS (MTCBC) Active MoDLtoring LMA Fund Restri¢t¢d Fixed AsKts R¢sid¢ntial Resilience RCTCBC Crisis Fund Oak Foundation (New Fund) Connector Fund MTCBC Resideutial Resilience Proj¢¢t Whol¢ School Approach Proj¢¢t SPEAK CF in Wales (Money Matters) MH Covid R¢spons¢ Enhanced Residential Resilience Mums Matter IRCTCBC) WCVA TRSF 2 Grant MTCBC Wellbeing Grant Moondance Foundaiion Henry Smith (Advocacy Project) National Lottery Communiry Fund (Safeguarding Support) Missing Middle Woles Carers Short Breaks Project (RtF) Wales and West Utilities Grant Garfield West¢rn Foundation Carers Tntsi Support Fund Wa1¢5 (MTCBC) 8.381 (5,155) 3,226 208.156 {128.254) (4.0) 1,052 2,843 (1,675) 16,312 (18.0141 61,888 {1.052) (25.262) 22,419 1,675 (18,312) (2,000) 4,100 4.100 43.961 3.140 (45.910) 1.949 3,140 (485) 485 5,932 54,018 5,932 (44,104) (30,539) (9,914) 30,539 25.172 2,(KlO 6,613 In,772 17.359 12,649 4,666 25,172 2.000 (2.IXJO) 4,061 (11,950) (10,674) 1,178 17,359 (12.649) 6.793 11.459 1.750 (9.428) 10.498 7.678 14.922) (6W) 5,576 6,599 10,(KK) 6.599 10,o(K) 1,149 (1.149) Knowing Me Knowing Mind Grant- Counsellillg 10.102 13.030) 7.072 424J82 1212,604) (50,255) 161,523 Page 25 continued...
CWM TAF MORGANNWG MIND PREVIOUSLY KNOWN AS MERTHYR AND THE VALLEYS MIND NOTES TO ThE FINANCIAL STATEMENfs- eolltlnued FOR THE YEAR ENDED 31 MARCH 2025 18. OVEMENT IN FUNDS- ¢ODtinued TOTAL FUNDS 1.323.875 (328.475) 995.400 A current year 12 months and prior year 12 Dth5 combin¢d net movement in fillKb, included.in the above are as follows= Incoming re50urce5 Resources expendrd Movement in.fimd5 Unrestrleted funds Gerwal fimd Iks1ated Fund Private Counselling 982.390 (1,095,9671 {2,064} {230) (I l 3.577) (2.064) 1230) 982.390 {1.098.261) {115,871) Restricted Cunds Knowing Me K[WIng Mind Grani- YMM Cwm Taf Morganuwg Univetsiry Health Board Prepare to Care RCTIRTF Merthy TydfLI Carers (MTCBC) Active MoDltoring LMA FurMI Restricied Fixed A55etS Residelltial Resilience RCTCBC Oak Foundation (New Fwid) MTCBC Residential R¢sili¢nce Projeci Project SPEAK CF in Wales (Money Matters) ETthanced Residential Resilience Mums Matter (RCTCBC) WCVA TRSF 2 Grant Moondance Foundation Henry Smith {Advoca¢y Proj¢ctl National Lottery Community Fund (Safeguaiding Support) Mi55ing Middle Wales Carers Short Breaks Project (RIF) Wales and W¢si Utilitle5 Grant GaTfield Western Foundation Carers Tn1 Support Fund Wale5 (MTCBC) Knowing Me KnowiDg Mind Grdllt. Counselbng 39,205 (30,824) 8,381 428.919 (557.173) I4,) {40.024) (44.314) 11.675) (125.177) (45.910) 1485) (58,214) (30,538) (2,000) (21.088) (11,9501 (12.649) (44,008) (128.2541 (4.000) 1.052 2,843 (1.6751 16,312 (45,910) (4851 (44,1041 (30.5391 (.2.000) 4.061 (11.950) (12.649) 6,793 41.076 47,157 141,489 14.110 25.149 50,801 19.4281 (43.6461 (59,5211 (1.0201 (10.0001 19,428) 10.498 600 6,599 10,000 54.144 60.121 7.619 20,000 5,000 {3,8511 1.149 35.101 (24.999) 10.102 969,890 (1,182,494) {212,604} TOTAL FUNDS 1.952.280 (2.280.755) {328.475) TriDsf¢r$ between lunds Trdnsfers between funds maiDly arise wher¢ unrestric*d ffijllds have beett used to bmd thortfalls in r¢stri¢ted projects. However. during thl's fuhancial year, the TntteS agreed ttrcombin¢ th¢ stricted hospital advocacy fid with the Cwm Taff Morgannwg University Healtb Board fiwd. via a transfer of fimds, as they are one and Ihc sam¢. Tr&nsf¢r5 w¢re also made in th¢ year to Strip capitsl expenditure out of the restricted revenue fid$ and allocate to an individual re5trict¢d fixed asset fimd. Page 26 continued...
CWM TAF MORGANNWG MIND R£VIOUSLY KNOWN AS MERTHYR AND THE VALLEYS MIND NOTES TO THE FINANCIAL STATEMENTS- tottllDued FOR THE YEAR ENDED 31 MARCH 202S MOVEMENT IN FUNDS- eontSh¥ed The free reseryes are available provide fiuKLs to cashfiow proj¢¢ts funded on a r¢trosp¢¢tiv¢ basis and are available with the approval of the tnjstees to nd any expendire on proj$ or expenses which fall withtn the organi5ations general ainks and objectives. they are a¢cumuled in accordanc¢ with the reserye policy 85 Staled in the twstee report. Anlysls of Urestrlcted Deslgnted funds 2025 2(124 Unarnortl5cd fRxed assets Soci81 Entetprise Developm¢Dt Fund Core MaDageTnent Teatn Cap3¢ity Fund Absence Capacity Fund 1.179 118.475 60.N)O 20.IM)O 1.474 156.475 60,OCrf> 20.0(hl Designated thd$ 199.654 237.949 The Trwst¢es eonsider that funds held aDd gellerated withiti the Private Counselling and Evaluauon Mind Funds are to b¢ in¢luded as free reserve5. UnAmorttsed Fixed Assets Fix¢d Assets Desi8naied fun418 represeni the amounL8 set aside io write dowD the remaining net book value of fixed #elS held against unrt%tricd fimds. Soclal En¢erprts¢ D¢velopment Fund To co-invest in the Charitys social enterprise ambition. To designa a £21K)k fund. Robust busine&s proposals will be developed in the straiegtc period 2021-2024 10 support the Board decisions on social enterprise d¢v¢loprnents. For example, these could ilUde capita] developments such as a wellbeing coff¢¢ thop (Mocha Mind) or investruent iti propeTtylsocial hous. Cort Mnagement Te¥m Capcity Fund To de5Lgnate fidS to build capacity within ihe Core Management Team should the Cha¥ity ¢ontinue to 0W tOWdrd5 £2m income. Specifically mana8ing pubtse see[ con¢ract& finance and administrative ne¢ds. We would re¢ornrnend a designat¢d fund of (0.5 PTE Service Manager. Fitiaoce Officer and Administtaiorl- approx. £50-£60k. Abs¢n¢¢ Capclty Fund To d¢signate £20k per arynum to be ed as backfill absence through using casual I bank workforce SUStsiD services during periods of unplanned absence. {A5 there is a high probabiliry that thi$ r¢serv¢ wotsld be utili5ed I"S could be considered to be built inio trJ[C budgets and refore¢a5ts). Aetivities undertakell wlth each DjOr re5tri¢t¢d fund The restrict¢d fid$ of the ¢harity have beett apph.ed duriD8 the year ot are held for expendittjre itt ibe followng area5: H•spitaVctsMmftity Advoeary (Cwm T( Morgam#w8 University Health Board) Hospital and Cornmunity Advocacy s¢rYi¢¢s ar¢ provided throu8bout Cwm Taf Moigannwg. and include th¢ Royal Glamorgan Hospital. Ysbyry George Thomas and PirWo0d Hous¢. The advacY is fimd¢d via 8 service lev¢1 aennI. and provid&8 an adCa¢Y setvice ro patients.which aim5 to be the voice of patients. Page 27 continued...
CWM TAF MORGANNWG MIND REVIOUSLY KNOWN AS MERT VALLEYS MIND THE TO THE FINANCIAL STATEMENTS- ¢Trnlinued FOR THE YEAR EI¥DED 31 MARCH 2025 18. MOVEMENT IN FUNDS- ¢oDtinued Active Monitorlng Active Monitoring is a projxt whirh enabl&% GPS io refer patients directly to a dedicated mentsl health praetitioner as soon as they Present with probleThLS such as aTLxiety. depressio low self<strem or stress. This project is fund¢d by Cwm Taff Morganllwg UniveT5ity H¢alth Board. Residentll Reslllence Jointly fvnded by the Oak Foundation and RCTCBC. th¢ projed seeks io supp)rt single homeless people who experience poor mentsl health and well- being to become more r¢sili¢Dt through a range of psytho-education. well-being support and developing socRal COnlle¢iions. the projKt also support$ tbe development of p$y¢hologLral infom)ed enviTonrnents. Merthyr Tydfil Carers MTCBC Delivering the Carers STAR Proj¢¢t. a holistic appmach to supporting carers with th¢ir rIng role. Crisis Fund A Fund to ¢nabl¢ srnall crisis 8rants io peopl¢ eXsed to significant hardship. Th"LS year the money was spet)l on viciirns of fl(M)ding. Oak FollDdatlo This was a sigDificant grani investment to wi%t in tht dcvelopment of rtsilieDce and psycholo8ically inforn)ed environments across homeles5 hostels. ConDeetor Fvnd Fwlded by Mind GtanL working in PartD¢f5hip with Valley Steps ¢desIgn commullity service5 - th¢ fi]nd is d¢sigDed to enbance organisaiional swtsinability. MTCBC Residentl41 Roilien¢¢ Prnject CornTnissiotd by KfcBC. supportiog homeless people to develop resilience in the face of adversity. Whole School Approath Fwjded by the ICF programrne, delivering elements of Mind's Wtr#)le School Approach 5ervicei to vulnerable ctu"Idren and young people. CF in Wl¢s (Money Matters) CF irt Wales administered eDhance nts for the Lloyd$ Bank Foundation during the pand¢mie - an enhanced grant was awarded to Your Money Mattus, project to deal WTth iticreased demand at thi's time of national ¢risi5. MH Covid Response Welsh Government made furth¢r allt investmelli in communiry-based services io take pressur¢ off the prillwy care health systenL investment was awarded to the charity sector and administered iljrough local County Voluntary Couwi15 to enhance community services at this tinx of national crisis. Project SPEAK Provid¢s sut¢id¢ pr¢vention awareness se&sions. professional ¢du¢ation and ¢oun5elling wpport for people who hav¢ att¢mpted 5ui¢ide or lo loved ones to suicide via the following pathway5.' - ¢ornmunity awareness sessions at sports clubs, mens barbers, pubs, etc. about the signs to look for to recognise fri¢[, family rn¢mber or colleague ai risk of suicide Ehrough a s¢¢, Say sIW5t presentation. - profs1Oal trainirtg for social work¢rs, social eare workeTS. health professionals. advice workers, twh¢rs ¢ ac¢r¢dit¢d by th¢ National Centre for the Preveatioa of Sui¢ide and Educatton UK. - referral io our team of professional cowts¢llors for fr¢e cow)sellin8 Enhaneed Resldentil Resilien¢e Page 28 ¢oniittued...
CWM TAF MORGANNWG MIND REVIOUSLY KNOWN AS MERTHYR AND VALLEYS MIND NOTES TO THE FINANCIAL STAT.EMENTS- ¢ontinued FOR THE YEAR ENDED 31 MARCH 2025 MOVEMENT tN FUI¥DS- ¢owtinu¢d The Residential R¢silieDCe Project prnvides a range of mentsl health and w¢lllKiDg a¢tiviti¢5 for l¢Dants living in local bos¢el provision and 5UPPOrted aceowJTh)dation via the foUowiti8 pathwdys: - one to one coachirtg sessions. - peer 8Pport S¢5$108 and - referral to our trauma iofonned ¢ouwiting 5erviccs. Mum5 Matter (RCTCBQ mun matter is a st¢tred 8-week course consisting of 2 hourly se55tons for muno who ar¢ fe¢ling low, stressed. overwbelmed, 2nd anxious or having worrying thougbts and feelings. and are sggling with the transitlon io therhood. The course is run by a local MtND prdciitioner and a mum with lived experience. with the option of crèche facilities provided on siie. Moondance Foundation Tllls was a 8rani io support expanding th¢ oTganisations work with the LGBTQF communiry. MTCBC Wellbeltsg Grallt This grant was to provid¢ a S¢Ti¢S of menttl he41th wellbeing groups across merth Tydfil. WCVA TSRF 2 Grant The WCVA Trdll5fotmation Grant FAS to iticttase sustainability within the sector. It enabled the funding of a Marketing, Con]rnunicatioDs and Fundraising Manager. This in tern ¢nables th¢ promot&on of community fundraising ev¢Dts, assist in th¢ rrUitment of tntstees. stsff and volunteers. and to enable the development of a range of marketing materials reath diverv5¢ wmmunities. Hemry Smitb (Advoew F•nd) T.5 fuThding provides advocacy support for individuals experie1Th8 seriou$ Ittal health wfftthin secondary care seTvi¢es m MerthyT Tydfil, Rhonda Cywn Taf and Bridge. Natlonil Lotlery Communlty Fund (S•fegu•rding Support) TS funding IS to conducl research. in partnership with the Cwm Taf Moiwdnnwg R¢gional Safeguarding Board, to investigate how suicid¢ could be actively prevented in a diverse range of communities. Missitig Middle Wales T.5 funding is for the delivery of an early interventio facilited 5¢1f-help 5¢rvi¢¢, for cbildren and young people, within a nwnber of primary ¢arc settings across Bridgerf RCT and Merthyr. Carers Short Breaks Projeet IRI This fundÈng provides aTh opportunity kn allow earers time for rest and recuperation, kWIng thar caring for a loved on¢ can be a highly demanding and a Challeng responsibllity. and that no one should have to go through alone. W*l¢s and West Utiliti¢5 Grant This ndIng aims io ideniify people accessing our servi¢¢5 who are strug81ing with fiDanc¢ in # way which is
ffectitlg their llKDlal bealth a1 wellbeing. With our relaiionsbip with local Ciiizen5 Advice, we can then '
fast-track peopl¢ to them. for on-going advice. $POrt and counselling.. Garfield Western Foundatlon To PTovid¢ funding to support cor¢ $ts, mainly for the the Chief Executive Officetrs role. Carers Truyt Sllpport Fund W#les (MTCBC) The Carers Tnt Support Fund aims to work with th¢ cornmunity to identify ihtsse carer5 that are hard to reach due io their caring role and coniinue to offer them ass¢ssrrffnts in th¢ir own rights for a %vhat mallers to thwD' conv¢rsation to id¢ntify wbat their Detds are. Page 29 ¢ontinu¢d...
CWM TAF MORGANNWG MIP¥D REVIOUSLY KNOWN AS MERTHYR AN VALLEYS MIND NOTFS TO THE FINANCIAL STATEMENTS- ¢onlinued FOR THE YEAR ENDED 31 2025 18. MOVEME]wr IN FUNDS- continued For those carers that ate iti need of flluncial belp due ¢0 the costvof-living crisis, we can help sUPPOrt them by offering financial reli¢f from the direet reward grnit. For those earets thai are struggling 9xially and em¢AioMlly. w¢ would invite them to our local peer-suppon group for guida¢, friendship and support. The peer-support group5 provide a 'short terni break, for the carer to have their own respite from tb¢ indiv1thl that thcy suppoEL in order to reclwge al enjoy their fr¢¢ tim¢. Knowing Me Knowlng Mlnd Grant- CounstllanglKMKM CouD$ellln¥ The Knowing Me Knowing Mind Counselling programme is a part of the wider KMKM Veterans, support service by CTM in partnership with Valley Veterans. It is funded by the Arn)ed Forces Covenant Fund ror a period of 3 years. Using this granl a trauma-ÈnfOrnd counsellor Works 25 hours per Wk, using Valley Vetejzns in TonypaThJy as a baselhub location. Thc counsellor reaches out io other veierans. groups 8cr(Fss the CTM region. USLn8 the connections and relationships built tljrough the Valley Veterans. hub. Veterans needing ¢OWL5¢11ing support can refei themselves for a seiies of 12 coutLsellmg swions. Thc projed ain to assess 70 veierans p¢r y¢ar and provide them witb 1-3 counselling se&sion& of whith 50 v¢t¢rdns pei year will cOpIe1t a 11 counselling course of 12 %ssious. The projecr ainLg to Create a positive sbift in veterdns, tnelltal health and wellbeing. 19. EMPtA)YEE BENEFIT OBLIGATIONS During the year the charity vas committed to pay £49,443 2023: £50.546) to thc employtts pension whemes. At the y¢ar ¢nd £7.399 (2023.. £4.419) contnbutiors were wipai 20. RELATED PARTY DISCLOSURES TrAD58Ctio Rel%tsd Party 21125 21J24 MerthyT Tydfil County Borough Council M¢rthyT Tydfjl County Borough Council MerthyT Tydfil County Borough Council Merthyr Tydfil County Borough Coun¢il Merthyr Tydfil College Income Debtor Creditor Expense ExpetLse 15.374 5.124 146 107 Th¢ Chair of the clwity. Cb"ve Jones is a Councillor for MertbyT Tydfil County Borough Council. The Trustee Lisa T]KTrm&s is Principal and c"ef Exetive Officer of Me[thT Tydfil College. 21. ULTIMATE CONTROLLING PARTY The Ctlarity is colltrolled by its direciorsltrustees as di%Lo%d within the RefereDce alld Administrative details in th¢ Tntsiee Report. Page 30 continued...
CWM TAF MORGLNNWG MIND PREVIOUSLY OWN AS MERTHYR AI¥D THE VALLEYS MIND NOTES TO THE FINANCIAL STATEMENTS- tontinued FOR THE YEAR ENDED 31 MARCH 2025 22. GIFTS IN KII¥D Volunteer Time The value of volunteer lime is noi quaniified in Tern of money the time contributed by volunteers is an invaluable resourc¢ in tenns of the outstanding Contribution made by them. The nutnber of hours contribwed by voluntttrs in th¢ y¢ar was 947 (2024.. 2,119). Page31
CWM TAF MORGANNWG MIND REVIOLISLY OWN AS MERTHYR AND THE VALLEYS MIND DETAILED STATEMENT OF FINANCIAL AcnvrriES FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 INCOME AND ENDOWMENTS Donatlons ind legades Donati0ThS Gift aid Grants 10,036 134 45.600 7,426 18 137.112 55,770 144,556 Other trading 4¢tivities Fundraising events Training 4,970 7,252 2,270 4970 9.522 Investment tncome D¢posit ac¢ount interest 18,237 12.189 Charit*ble a¢tivitie5 Clwiiable activity income 730,301 976,735 Total in¢•rnittt rewtsrtes 809.278 1,143,002 EXPEI¥DITURE Charltable 4ctivities Wag&s Pensions General Expenses 539,312 29,582 252,756 917,627 49,443 321,126 821.650 1.288.196 Supptsrt eosts Wages Overheads 47.887 8,987 10,496 24,824 56.874 35,320 Firtance Wage5 OveTh¢ad5 15.962 2,996 3.499 8.275 18958 11.774 Humatt r¢sollrces Wages Carried forward 15962 15,962 3.499 3,499 This page doe5 not forni part of the stsDJtory financial ststements Page 32
CWM TAF MORGANNWG MIND REVIOUSLY KNOWN AS MERTHYR AND THE VALLEYS MIND DETAILED STATEMENT OF FINANCIAL AcTlEs FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Hujnan resources B Tought forward Overheads 15.962 2,996 3.499 8.275 18.958 11,774 Gtsverttantt Costs Accounian¢y fees 7.292 9,959 Total resources exp¢nded 923,732 .357,023 Net ¢xpenditure (114.454> (214.021) This page do¢s not forni part of the ststutory financial statements P#ge 33