`
## I D Bowen & Co
_Chartered Accountants Registered Auditors_
Ian Bowen LLB, FCA
19 Alexandra Road Gorseinon Swansea SA4 4NW Tel: (01792) 897035 (01792) 898280 (01792) 896566 mail@idbowen.co.uk
Our ref: IDB/T.64
26 January 2026
The Trustees The Old Mill Foundation Meyrick’s Mill Hendy Road Penclawdd Swansea SA4 3XE
Dear Trustees
## **Final unaudited accounts for the year ended 30 April 2025**
In accordance with my normal practice, I am writing to you to draw your attention to various matters which arose during the course of my independent examination of the charity’s accounts for the year ended 30 April 2025.
## _**Qualitative aspects of the entity's accounting practices and financial reporting**_
The charity has prepared its financial statements under the historical cost convention and in accordance with Charities SORP (FRS102) - 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 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
I have not become aware of any material departure from these standards, nor did I come across any areas of the financial statements which departed from the entity’s adopted accounting policies.
## _**Letter of representation**_
My letter of representation is attached which is routine in all respects.
## _**Unadjusted misstatements**_
There were no unadjusted misstatements determined during the course of my work.
## _**Expected modifications to the independent examiner’s report**_
There are no expected modifications to the independent examiner’s report.
Registered to carry on audit work in the UK and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales. Details about our audit registration can be viewed at www.auditregister.org.uk under reference number C007012081.
## _**Material weaknesses in the accounting and internal control systems**_
As you are aware from my letter of engagement, my procedures were not directed towards testing the accounting systems in operation as I do not express an opinion on the accounts. I have not encountered any material weaknesses in the accounting and internal control systems during the course of the independent examination which I consider should be communicated to you. Any recommendations I have regarding improvements to the charity’s record keeping system will be discussed with Nicola Rees.
## _**Other matters required to be communicated**_
There are no other matters that I am required to communicate to you.
## _**Other relevant matters relating to the independent examination**_
You are aware of the fact that my firm has provided accounting services to the charity in putting the accounts into statutory format in addition to my acting as independent examiner. During the year the firm also commenced the provision of payroll services to the charity. The operation of the payroll is undertaken and supervised by members of staff who take no part in the Independent Examination of the financial statements.
I wish to confirm that, in my opinion, the provision of such services does not affect my independence as the additional services provided are of a routine compliance nature and the Board takes any decisions where judgement is required.
## _**Confidentiality**_
Please note that this report has been prepared for the sole use of The Old Mill Foundation. It must not be disclosed to third parties, quoted or referred to, without my prior written consent. No responsibility is assumed by us to any other person.
I would like to take this opportunity of expressing my thanks to Nicola Rees for her assistance during the course of the independent examination.
If I can be of any further assistance, please do not hesitate to contact me.
Yours faithfully
I D Bowen & Co
## Companies House Copy
**Company number: 5768149 Charity number: 1125120**
## **THE OLD MILL FOUNDATION**
_**(A Company Limited by Guarantee and not having a share capital)**_
## **REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 30 APRIL 2025**
**THE OLD MILL FOUNDATION YEAR ENDED 30 APRIL 2025**
## **CONTENTS**
||_Page_|
|---|---|
|Trustees’ Annual Report|1 - 5|
|Independent Examiner’s Report|6|
|Statement of Financial Activities|7|
|Balance sheet|8|
|Notes to the Financial Statements|9 - 15|
**THE OLD MILL FOUNDATION YEAR ENDED 30 APRIL 2025**
## **TRUSTEES’ ANNUAL REPORT**
The trustees are pleased to present their annual directors' report together with the financial statements of the charity for the year ended 30 April 2025, which are also required to meet the requirements for a directors' report and accounts for Companies Act purposes.
## **Administrative Details of the Charity, its Trustees and Advisers**
The Old Mill Foundation was incorporated as a company limited by guarantee on 4 April 2006. The company registered with the Charity Commission on 22 July 2008.
The charity is limited by guarantee and does not have any share capital.
The liability of members of the charity is limited. Every member of the charity undertakes to contribute to the assets of the charity (in the event of the same being wound up) such amount as may be required not exceeding £10.
|**Company Registration No:**|5768149||
|---|---|---|
|**Charity Registration No:**|1125120||
|**Registered Office:**|2 Mount Street, Gowerton, Swansea, SA4 3EJ||
|**Chair of Board of Trustees:**|Joan Jeyes||
|**Secretary:**|Sarah Clark||
|**Administrators:**|Sarah Clark||
|**Trustees:**|Christopher Clark||
||Lowri Collins||
||Sarah Dow||
||Joan Jeyes||
||Maurice Arthur|(Appointed 1 April 2025)|
||Carol Liguz|(Appointed 1 April 2025)|
||Jonathan Knight|(Resigned 15 July 2024)|
||Kerry Jones|(Resigned 5 July 2024)|
||Sue Gibbons|(Resigned 5 December 2024)|
||Nerys Martin|(Resigned 14 April 2025)|
|**Bankers:**|The Co-operative Bank, PO Box 250, Delf House, Southway, Skemersdale, WN8 6WT||
|**Independent Examiner:**|Ian Bowen LLB FCA,|I D Bowen & Co., Chartered Accountants|
||19 Alexandra Road, Gorseinon, Swansea, SA4 4NW||
Page 1
**THE OLD MILL FOUNDATION YEAR ENDED 30 APRIL 2025**
## **TRUSTEES' ANNUAL REPORT**
## **Structure, Governance and Management**
The affairs of the charity are directed by a board of trustees who are also directors.
The charity is restricted to carrying out activities within the objects set out in the Memorandum of Association.
The number of trustees shall not be less than three but (unless otherwise determined by ordinary resolution) shall not be subject to any maximum. Trustees are appointed following election by members at general meetings.
New trustees meet fellow trustees during the induction day. They are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.
## **Objectives and Activities**
The charity's objects are to relieve cancer sufferers by the provision of holistic and other complementary therapies.
The trustees are aware of their responsibilities in ensuring that the charity delivers identifiable benefits to the public in accord with the established objectives. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. The charity achieves its objectives by undertaking permitted activities, the main activity being the provision of holistic and complementary therapy treatments supporting people living with cancer and their carers, physically and emotionally.
## **The focus of our work**
Our main objectives are to provide holistic support to adults with a cancer diagnosis, their carers and families.
The strategies we use to meet these objectives include:-
- Providing physical support to adults affected by cancer using complementary therapies.
- Providing emotional support to adults affected by cancer by telephone, online contact and individual/group activity/support sessions.
- Group socials/coffee afternoons on a weekly basis.
- Linking with other Cancer Support Groups.
- Enhanced access to additional cancer support information.
- Workshops on nutrition and health matters.
- Access to and education on health products.
- Ensuring quality of therapists by providing ongoing training.
- Providing a warm safe and friendly environment in our centres
We understand that a cancer diagnosis does not just affect the individual but also their carer’s and families. At the Old Mill Foundation we offer support to all those impacted by cancer and seek to provide support with physical health, mental health, life style choices, confidence and wellbeing.
## **How our activities deliver public benefit**
Our main activities and who we help are described below. All our charitable activities remain focused on supporting adults affected by cancer and are undertaken to further our charitable purposes for the public benefit.
## **Achievements, Performance and Financial Review for year-end 30th April 2025**
2024/25 has been a pivotal year for the Old Mill Foundation seeing not only a change in senior management but also a move to new premises to address the sustainability challenges facing the organisation.
Following an assessment of several locations the preferred option was to rent a disused public house in the large residential area of Gowerton, 3 miles from the existing main centre. This property was chosen as it is close to transport links, has it’s own off street parking and is large enough to allow for consolidating office, treatment rooms and community areas into one location, together with the income generating potential of a charity shop, health shop and community café. The landlord agreed to a ‘below market’ rent and rent free period of 7 months.
The building had been empty for 10 years and was in a poor state of repair. The landlord agreed to replace the roof, attend to the external repairs /decoration and upgrade the electrics/heating. The Old Mill agreed to restore the internal areas making them fit
Page 2
**THE OLD MILL FOUNDATION YEAR ENDED 30 APRIL 2025**
for purpose.
The task was not a small one, however with over 1000 volunteer hours, the support of numerous local businesses with donated or discounted goods and services and grant funding from Screwfix the works were completed in January 2025, with an opening event on 4th February. Our second centre in Llandybie continues to serve the more rural communities of West Wales. The role of part time Volunteer Co-ordinator was created to help manage the anticipated increase in volunteers to help run the new activities.
## **Who used and benefited from our services?**
Cancer rates in Wales are the highest of the UK nations;
Our charity offers it’s services to the communities of South West Wales. In this financial year Old Mill provided support to 170 cancer sufferers (an 8% increase on last year).
The age group accessing our service was from 19 years to 60+years.
- 54% aged 60+
- 41% aged 41-60
- 5% aged 19-40
- Gender breakdown • 91% female • 9% male
The number of complementary therapy sessions given was 1452 which is an increase of 11% from the previous year. We have also provided weekly zoom sessions including meditation and Chi Gong for those unable to attend our centres to widen our reach further.
The benefits extend beyond our 170 clients to their carers, family and friends as we support them through their cancer journey helping them cope better with their situation. This in turn helps to relieve the stress and worry of loved ones and improves the wellbeing of all affected.
Through our treatments and ongoing support some of our clients are able to return to work which helps build individuals confidence, often impacted due to the rigours of medical treatment, stress and fatigue.
Our complementary therapies are provided by suitably qualified therapists on a voluntary basis. We offer our volunteers specialist cancer training and ongoing "on the job" training to improve skills and knowledge in order to give excellent support.
The complementary therapies on offer at our centres include: Scar Tissue Massage; Manual Lymphatic Drainage; Indian Head Massage; Aromatherapy massage; Reflexology; Reiki; Counselling; Crystal healing; Meditation; Homeopathy, Acupuncture and nutrition advice. Also admin support.
Weekly coffee afternoons in each of our centres provide a supportive environment to anyone affected by cancer, offering emotional support for cancer sufferers and their carers. These sessions allow people to talk informally about their experiences and receive support and encouragement from others in similar situations. There is a relaxed atmosphere for people to exchange stories and experiences. This environment also encourages discussions about general topics, which helps relieve strain and gives time for more light-hearted conversations. Clients participate fully and these sessions also help enhance local community connections, a number of the clients attending have become Old Mill volunteers.
* Cancer Research published statistics
## **Volunteers**
The Old Mill Foundation is community led, volunteers are at the heart of what we do and we would be unable to offer our therapies and support or maintain our centres without their invaluable contribution. Many of our volunteers have been affected by cancer either directly or through loved ones and their feedback helps steer the organisation in the types of support it offers.
In this financial year we recorded 1452 volunteer therapy sessions and over 3000 hours in client wellbeing, operational support and fundraising. In addition over 1000 hours were dedicated to the refurbishment of our new premises.
Most or our therapists are sole traders and are often reliant on their individual income. As such, volunteer attraction and retention can be an issue, especially with the ongoing effects of the cost of living crisis. The Old Mill seeks to address this issue by
Page 3
**THE OLD MILL FOUNDATION YEAR ENDED 30 APRIL 2025**
providing a warm and welcoming workplace where the volunteers feel valued and by providing training that can also be used in their private practices. This helps develop the therapists knowledge and skillset to be able to help a broader range of clientele, feedback has confirmed this to be a motivator to keep volunteering and honing professional skills.
In addition to the therapies provided by the qualified volunteers, the move to our new site has enabled us to increase our overall volunteer numbers to 79, from the previous 17 at the original Penclawdd site. This is in addition to 14 at our Llandybie site.
These volunteers have been instrumental in helping undertake the significant DIY and improvements needed to help get the Gowerton site operational and many of the same individuals now help receive/sort donations and staff the retail operating areas of community café, charity and health food shop.
The Trustees would like to offer a heartfelt thank you to all our Volunteers who work so hard for our organisation.
## **Principal Funding Sources**
The Old Mill Foundation is proud of the level of community support and community fundraising which provides a wide range of income sources and assists with operational stability. From the Friends of the Old Mill making and selling craft items to raffles, fundraisers, bucket collections the charity ethos of ‘helping itself’ remains high. Our funding strategy is reviewed at each Trustee meeting and provides clarity of financial circumstances and direction.
During 2024/25 our fundraising breakdown is as follows:
|•|Donations & Legacies|£43,116|
|---|---|---|
|•|Direct fundraising activities|£ 5,301|
|•|Trusts & Foundations|£ 5,800|
|•|Earned Income|£21,877|
|•|Friends of the Old Mill|£ 4,707|
During this financial year Old Mill received funding from Austin Bailey Foundation and Screwfix.
The charity also secured funding from The National Lottery which has now been received in the 2025-26 financial year.
## **Financial Position**
This financial year saw a pivotal change for the Old Mill with a change of senior staff and change of location.
A cashflow forecast for the period predicted the need to use charity reserves during this period to effect the changes necessary to make the charity sustainable in the long term. In this period the reservices have reduced from £87,508 to £19,280. This is within the parameters anticipated by the trustees.
It is predicted that a ‘bedding in’ period will be necessary before it is possible to determine the new income/expenditure patterns of the new facility. Targets have been set and a board sub-committee has been formed to monitor this on a monthly basis and work closely with senior management during the next financial year. Increased fundraising from Trusts and Foundations will form part of the agenda for the finance subcommittee.
|**_Unrestricted funds_**
Balance brought forward
**Net (expenditure)/income**
Transfers
Balance carried forward
**_Restricted funds_**
Balance brought forward
**Net (expenditure)/income**
Transfers
Balance carried forward|**_2025_**
**_£_**
**_2024_**
**_£_**
87,508
(68,228)
-
104,012
(16,504)
-|
|---|---|
||19,280
87,508|
||945
1,799
-
945
-
-|
||2,744
945|
Page 4
**THE OLD MILL FOUNDATION YEAR ENDED 30 APRIL 2025**
## **Future Plans & Developments**
In 2024 The Old Mill Foundation founder and CEO Sarah Clark announced her intention to retire and suggested a staged handover. She will remain available to the Old Mill as a consultant and will work as a therapist volunteer on a reduced time commitment.
A new role of Charity Manager was created and the post filled in August 2024. The chosen applicant played a major role in the project management of the new premises and relocation to the new site, however after this was completed decided not to remain with the organisation. A second round of recruitment was successfully completed in April 2025.
The trading activities in the new facility are in the development stages. A charity shop and health store are up and running together with a community café providing plant based drinks and cakes. Over the next financial year funding will be sought to fit out a commercial kitchen to expand the food offer and increase the income from the café. Workshops and events will also be increased to utilise this facility to the full, increase footfall and income and encourage more community use of the building.
There is a large demand for Scar Tissue therapy which is not available on the NHS, local private practitioners are scarce and when available the cost is outside of the reach of most individuals residing in our communities. A successful application to the Austin Bailey Foundation has secured funding for the training of new therapists in this vital service and funding is being sought for the purchase of specialist equipment.
With an increase in volunteer numbers the Old Mill will be looking into ways to support this increased number and ensure all our volunteers feel valued and receive relevant training for their activities. We have secured funding from the National Lottery for volunteer training and intend to start monthly meetings for the volunteer therapists to get together to offer and exchange support, advice and much needed treatments. This provides peer supervision and support both within Old Mill and for their wider practices that is not available generally.
Our statistics have highlighted a gender imbalance with our clients, women being much more likely to seek support than men. This is contrary to the cancer incident rates where men are slightly more likely to develop cancer than women. This imbalance is seen by other cancer support organisations and statutory authorities. Our new Charity Manager comes with experience of this issue in her previous role and has made a number of suggestions including increasing our networking with healthcare providers who look after male cancers such as prostate, penile and testicular to refer and signpost more men to the Old Mill.
Cancers like head and neck cancers and brain tumours which predominantly affect slightly more men than women also require an increase in networking with the health providers in order to gain more referrals and signposting.
We are fortunate in having excellent male volunteer therapists and plan to have more presence on social media platforms with an increased emphasis on the importance of emotional and physical support for men. We intend to start a ‘volunteer of the month’ on our social media including male therapists to help give the message that we are for men and women.
## **Policy on Reserves**
Reserves are needed to bridge the gap between expenditure and receipts from fundraising activities and to cover unplanned repairs or expenditure. The Trustees consider that the level of reserves should be maintained between three and four months basic overheads.
## **Accounts**
The accounts are drawn up to comply with the Companies Act 2006 and Accounting and Reporting by Charities: SORP (FRS102) issued in October 2019.
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
Signed on behalf of the trustees:
Name: Joan Jeyes Chair of Trustee Board
Approved on: 27 January 2026
Page 5
**THE OLD MILL FOUNDATION YEAR ENDED 30 APRIL 2025**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE OLD MILL FOUNDATION**
I report to the charity trustees on my examination of the accounts of The Old Mill Foundation for the year ended 30 April 2025 which are set out on pages 7 to 15.
## **Responsibilities and basis of report**
As the charity’s trustees of the company (who are also its directors for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
- the accounts do not accord with such records; or
- the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or
- the accounts have not been prepared in accordance with the Charities SORP (FRS102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Ian Bowen LLB FCA Independent examiner 27 January 2026
I D Bowen & Co Chartered Accountants 19 Alexandra Road Gorseinon Swansea SA4 4NW
Page 6
**THE OLD MILL FOUNDATION YEAR ENDED 30 APRIL 2025**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)**
|**Notes**
**INCOME FROM**
Donations and legacies
**_Other trading activities:_**
Charity shops and cafe
Collection tins
Friends of the Old Mill
Other fundraising activities
Room hire
Other income
3
**TOTAL INCOME**
**EXPENDITURE ON**
Fundraising
Charity shops and cafe
Charitable activities
5
**TOTAL EXPENDITURE**
**Net (expenditure)/income**
Transfers between funds
**NET MOVEMENT IN**
**FUNDS**
**RECONCILIATION OF**
**FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED**
**FORWARD**|**_Unrestricted_**
**_Funds_**
**_£_**
**_Restricted_**
**_Funds_**
**_£_**
**_2025_**
**_Total_**
**_Funds_**
**_£_**
**_Unrestricted_**
**_Funds_**
**_£_**
**_Restricted_**
**_Funds_**
**_£_**
**_2024_**
**_Total_**
**_Funds_**
**_£_**
38,196
28,499
1,239
4,707
4,170
96
-
7,100
-
-
-
-
-
-
45,296
28,499
1,239
4,707
4,170
96
-
71,786
38,061
972
4,519
15,891
342
2,200
2,000
-
-
-
-
-
-
73,786
38,061
972
4,519
15,891
342
2,200|
|---|---|
||76,907
7,100
84,007
133,771
2,000
135,771|
||143
83,084
61,908
-
2,033
3,268
143
85,117
65,176
3,201
38,907
108,167
-
-
2,000
3,201
38,907
110,167|
||145,135
5,301
150,436
150,275
2,000
152,275|
||(68,228)
-
1,799
-
(66,429)
(16,504)
-
-
-
(16,504)
-|
||(68,228)
87,508
1,799
945
(66,429)
88,453
(16,504)
104,012
-
945
(16,504)
104,957|
||19,280
2,744
22,024
87,508
945
88,453|
There were no recognised gains and losses other than those set out in the statement of financial activities above.
All of the charity's income and expenditure derived from continuing activities during the above financial periods.
Page 7
**THE OLD MILL FOUNDATION YEAR ENDED 30 APRIL 2025**
**Company number: 5768149**
## **BALANCE SHEET**
|**_Note_**
**FIXED ASSETS**
Tangible assets
7
**CURRENT ASSETS**
Cash at bank and in hand
**Creditors**: amounts falling due within one year
8
**NET CURRENT ASSETS**
**TOTAL NET ASSETS**
**CHARITY FUNDS**
Unrestricted income funds
Restricted income funds
9
**TOTAL FUNDS**|30,258|**_2025_**
**_£_**
-
22,024|92,972|**_2024_**
**_£_**
-
88,453|
|---|---|---|---|---|
||30,258
(8,234)||92,972
(4,519)||
||||||
|||22,024||88,453|
|||19,280
2,744||87,508
945|
|||22,024||88,453|
For the year ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 A relating to small companies.
Approved by the trustees and signed on their behalf by:
Signed
Joan Jeyes, Chair of Trustee Board
Approved on : 27 January 2026
The notes on pages 9 to 15 form part of these financial statements.
Page 8
**THE OLD MILL FOUNDATION YEAR ENDED 30 APRIL 2025**
## **NOTES TO THE FINANCIAL STATEMENTS**
## 1 **ACCOUNTING POLICIES**
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
## _**Basis of preparation**_
The financial statements have been prepared in accordance with the Charities SORP (FRS102) - 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 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Old Mill Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## _**Going concern**_
The Trustees have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. The trustees have made this assessment in respect to a period of at least one year from the date of approval of these financial statements.
The charity has adequate cash reserves which are being actively monitored and managed and the trustees believe that these actions have secured the immediate future of the charitable company for the next 12 to 18 months and that on this basis the charity is a going concern.
## _**Income recognition policies**_
All income is included in the Statement of Financial Activities when the charity is legally entitled to the income and can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
- Voluntary income is received by way of donations and is included in full in the Statement of Financial Activities when receivable.
- Investment income is included when receivable.
- Income from charitable trading activity are accounted for when earned.
- Revenue grants are included in the SOFA when the charity is legally entitled to them.
- Capital grants are capitalised and amortised over the same period as the asset to which they relate.
## _**Fund accounting**_
Funds held by the charity are either:
_Unrestricted general funds:_ these are funds which are available to spend on activities that further any of the purposes of the charity.
_Designated funds:_ these are unrestricted funds which the trustees have decided at their discretion to set aside to use for a specific purpose.
_Restricted funds:_ these are funds which the donor has specified are to be solely used for particular areas of the charity's work or for specific artistic projects being undertaken by the charity.
## _**Expenditure and irrecoverable VAT**_
All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for expenditure. Certain expenditure is directly attributable to specific activities and has been included in those cost categories with the exception of staff costs which is apportioned on the basis of time spent on activities. The company is not registered for VAT and accordingly expenditure is shown gross of irrecoverable VAT.
Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice.
Page 9
**THE OLD MILL FOUNDATION YEAR ENDED 30 APRIL 2025**
## _**Tangible fixed assets**_
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures and fittings - 20% Straight Line - Computer equipment 25% Straight Line
## _**Debtors**_
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## _**Creditors and Provisions**_
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## _**Operating Leases**_
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income and expenditure account on the straight line basis over the lease term.
## _**Pensions**_
Contributions to defined contribution plans are expensed in the period to which they relate.
## 2 **LEGAL STATUS OF THE FOUNDATION**
The Old Mill Foundation is a company limited by guarantee and has no share capital. In the event of the charitable company being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. The company is registered in England and Wales and the company's registered number and registered office can be found on page 1 in the administrative details.
## 3 **INCOME FROM DONATIONS AND LEGACIES**
|Treatment Donations
General donations
HMC Gift Aid
Legacy
The Albert Hunt Trust
Edgar E Lawley Foundation
Weslyan Winter Giving
Local Giving Fund
Screwfix
Austin Bailey Foundation
Masonic donation
Hospital Saturday Fund
4
**RAISING FUNDS**
Charity shops and Café expenditure|**_Unrestricted_**
**_funds_**
**_£_**
**_Restricted_**
**_funds_**
**_£_**
**_2025_**
**_Total_**
**_funds_**
**_£_**
**_Unrestricted_**
**_funds_**
**_£_**
**_Restricted_**
**_funds_**
**_£_**
**_2024_**
**_Total_**
**_funds_**
**_£_**
18,040
16,854
3,302
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
4,800
1,000
1,300
-
18,040
16,854
3,302
-
-
-
-
-
4,800
1,000
1,300
-
17,511
21,127
4,838
18,810
5,000
2,000
2,000
500
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
2,000
17,511
21,127
4,838
18,810
5,000
2,000
2,000
500
-
-
-
2,000|
|---|---|
||38,196
7,100
45,296
71,786
2,000
73,786|
||**_Unrestricted_**
**_funds_**
**_£_**
**_Restricted_**
**_funds_**
**_£_**
**_2025_**
**_Total_**
**_funds_**
**_£_**
**_Unrestricted_**
**_funds_**
**_£_**
**_Restricted_**
**_funds_**
**_£_**
**_2024_**
**_Total_**
**_funds_**
**_£_**
83,084
2,033
85,117
38,907
-
38,907|
||83,084
2,033
85,117
38,907
-
38,907|
Page 10
**THE OLD MILL FOUNDATION YEAR ENDED 30 APRIL 2025**
## 5 **ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES**
|**_Costs directly allocated to activities_**
Staff costs
Treatment room
Salon consumable supplies
Cleaning
Printing, postage and stationery
Computer costs
Telephone
Advertising
Rent
General expenses
Training
Travelling
Insurance
Depreciation
Zoom
Cancer active
Lease of equipment
Enthuse
Hall/stand hire
**_Total costs_**
**_Governance_**
Independent examiner’s fee
Payroll services
**_Total governance costs_**
**_Total expenditure on charitable_**
**_activities_**|**_Unrestricted_**
**_funds_**
**_£_**
**_Restricted_**
**_funds_**
**_£_**
**_2025_**
**_Total_**
**_funds_**
**_£_**
**_Unrestricted_**
**_funds_**
**_£_**
**_Restricted_**
**_funds_**
**_£_**
**_2024_**
**_Total_**
**_funds_**
**_£_**
49,786
-
50
-
182
763
1,594
-
-
1,583
1,525
-
972
-
156
36
1,603
708
-
-
3,157
111
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
49,786
3,157
161
-
182
763
1,594
-
-
1,583
1,525
-
972
-
156
36
1,603
708
-
76,866
-
803
786
1,030
486
1,448
532
16,787
1,602
1,625
924
841
190
156
36
998
548
265
-
-
-
-
-
-
-
-
-
-
2,000
-
-
-
-
-
-
-
-
76,866
-
803
786
1,030
486
1,448
532
16,787
1,602
3,625
924
841
190
156
36
998
548
265|
|---|---|
||58,958
3,268
62,226
105,923
2,000
107,923|
||2,340
610
-
-
2,340
610
2,100
144
-
-
2,100
144|
||2,950
-
2,950
2,244
-
2,244|
||61,908
3,268
65,176
108,167
2,000
110,167|
## 6 **ANALYSIS OF STAFF COSTS AND TRUSTEE REMUNERATION AND EXPENSES**
|Wages and salaries
Social security costs
Pension|**_2025_**
**_£_**
**_2024_**
**_£_**
84,346
-
178
98,417
-
244|
|---|---|
||84,524
98,661|
No employees had emoluments in excess of £60,000 (2024 - Nil).
The charity trustees were not paid nor received any other benefits from employment with the charity in the year (2024 - £Nil) neither were they reimbursed expenses during the year (2024 - £Nil). No trustee received payment for professional or other services supplied to the charity.
The key management personnel of the charity comprise the trustees and administrators. The total employee benefits of the key management personnel of the charity were £13,433 - (2024 - £12,896).
## **Staff numbers**
The average number of employees (including casual and part time staff) during the year
was:-
|**_2025_**|**_2024_**|
|---|---|
|8|8|
Page 11
**THE OLD MILL FOUNDATION YEAR ENDED 30 APRIL 2025**
## 7 **TANGIBLE FIXED ASSETS**
|7
**TANGIBLE FIXED ASSETS**||||
|---|---|---|---|
||**_Fixtures,_**|**_Computer_**|**_Total_**|
||**_Fittings &_**|**_Equipment_**||
||**_Equipment_**|||
||**_£_**|**_£_**|**_£_**|
|**Cost or valuation**||||
|At 1 May 2024|12,802|3,248|16,050|
|At 30 April 2025|12,802|3,248|16,050|
|**Depreciation**||||
|At 1 May 2024|12,802|3,248|16,050|
|At 30 April 2025|12,802|3,248|16,050|
|**Net book value**||||
|At 30 April 2025|-|-|-|
|At 30 April 2024|-|-|-|
|8
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**||||
|Taxation and social security
Other creditors and accruals|**_2025_**
**_£_**
**_2024_**
**_£_**
499
7,735
595
3,924|
|---|---|
||8,234
4,519|
9 **ANALYSIS OF CHARITABLE FUNDS**
## **Analysis of movement in unrestricted funds - current year**
|||**_1 May_**|**_Incoming_**|**_Funds_**|**_Transfers_**|**_30April_**|
|---|---|---|---|---|---|---|
|||**_2024_**|**_funds_**|**_used_**||**_2025_**|
|||**_£_**|**_£_**|**_£_**|**_£_**|**_£_**|
|General fund||87,508|76,907|(145,135)|-|19,280|
|Total||87,508|76,907|(145,135)|-|19,280|
|**Analysis of movement in unrestricted funds - prior year**|||||||
|||**_1 May_**|**_Incoming_**|**_Funds_**|**_Transfers_**|**_30 April_**|
|||**_2023_**|**_funds_**|**_used_**||**_2024_**|
|||**_£_**|**_£_**|**_£_**||**_£_**|
||||||**_£_**||
|General fund||104,012|133,771|(150,275)|-|87,508|
|Total||104,012|133,771|(150,275)|-|87,508|
|**Name of unrestricted fund**|**Description, nature and purposes of the fund**||||||
|_General fund_|The ‘free reserves’ after allowing for all designated|||funds.|||
_._
Page 12
**THE OLD MILL FOUNDATION YEAR ENDED 30 APRIL 2025**
## 9 **ANALYSIS OF CHARITABLE FUNDS (Continued)**
**Analysis of movement in restricted funds - current year**
|**Big**Lottery - Community Fund
Community Fund Awards For All
Screwfix
Austin Bailey Foundation
Masonic donation
Total
Analysis of movement in restricted funds - prior year
Big Lottery - Community Fund
Community Fund Awards For All
Hospital Saturday Fund
Total|**_1 May_**
**_2024_**
**_£_**
**_Incoming_**
**_funds_**
**_£_**
**_Funds_**
**_used_**
**_£_**
**_Transfers_**
**_£_**
**_30 April_**
**_2025_**
**_£_**
568
377
-
-
-
-
-
4,800
1,000
1,300
(568)
(276)
(3,157)
-
(1,300)
-
-
-
-
-
-
101
1,643
1,000
-|
|---|---|
||945
7,100
(5,301)
-
2,744|
||**_1 May_**
**_2023_**
**_£_**
**_Incoming_**
**_funds_**
**_£_**
**_Funds_**
**_used_**
**_£_**
**_Transfers_**
**_£_**
**_30 April_**
**_2024_**
**_£_**
568
377
-
-
-
2,000
-
-
(2,000)
-
-
-
568
377
-|
||945
2,000
(2,000)
-
945|
Name of restricted fund
Description, nature and purposes of the fund
Big Lottery - Community Fund
This grant was received to fund setting up a day’s outreach at Narbeth Centre and to further develop Port Talbot Centre.
Community Fund Awards for all
This grant is utilised for the Old Mill Goes Digital project.
Screwfix
This grant is being utilised in refurbishing facilities in the charity's new premises.
Austin Bailey Foundation
This grant is to be used for training therapists in scar-work therapy for cancer patients
Masonic donation
This grant was utilised for the purchase of equipment.
Hospital Saturday Fund
This grant was used to pay training costs.
Page 13
**THE OLD MILL FOUNDATION YEAR ENDED 30 APRIL 2025**
## 10 **ANALYSIS OF NET ASSETS BETWEEN FUNDS**
|Analysis of net assets between funds - current year
Tangible fixed assets
Cash at bank and in hand
Creditors due within one year
Analysis of net assets between funds - prior year
Tangible fixed assets
Cash at bank and in hand
Creditors due within one year|**_Unrestricted_**
**_funds_**
**_£_**
**_Restricted_**
**_funds_**
**_£_**
**_Total_**
**_£_**
-
27,514
(8,234)
-
2,744
-
-
30,258
(8,234)|
|---|---|
||19,280
2,744
22,024|
||**_Unrestricted_**
**_funds_**
**_£_**
**_Restricted_**
**_funds_**
**_£_**
**_Total_**
**_£_**
-
92,027
(4,519)
-
945
-
-
92,972
(4,519)|
||87,508
945
88,453|
Analysis of net assets between funds - prior year
## 11 **LEASING COMMITMENTS**
The future minimum operating lease commitments are as follows:
|Payable within one year
Payable between one and five years
Payable in more than five years|**2025**
**£**
**Land &**
**buildings**
**2025**
**£**
**Equipment**
**2024**
**£**
**Land &**
**buildings**
**2024**
**£**
**Equipment**
10,864
60,000
71,250
-
4,219
-
8,600
17,667
-
-
-
-|
|---|---|
||142,114
4,219
26,267
-|
The charity entered into a 10 year lease on its registered office at an initial annual rental of £15,000. The lease commenced on 4 February 2025 with a seven month rent free period which came to an end on 3 September 2025. No rent was paid in respect this lease during the year. The lease contains a break date of 4 February 2027 which can be activated by giving the landlord at least 6 months notice prior to that date.
It is unlikely that the charity will take advantage of the break date and the future minimum operating lease commitments above include the full rental payable during the remaining term of the lease calculated at the initial annual rental. The total future commitments under this lease amount to £141,550.
The charity made total rental payments of £19,199 (2024 - £16,787) during the year in respect of all premises occupied on leases or short term licences.
Page 14
**THE OLD MILL FOUNDATION YEAR ENDED 30 APRIL 2025**
## 12 **RELATED PARTY TRANSACTIONS**
Sarah Clark is regarded as related parties to the Foundation by virtue of their being administrator and providing services to the Foundation.
Amounts payable to the above during the year are as follows:-
||**2025**|**2024**|
|---|---|---|
||**£**|**£**|
|Sarah Clark:|||
|Staff costs (Gross salary)|13,433|12,896|
|Rent|4,500|5,700|
The above amounts are included in total resources expended in the statement of financial activities.
## 13 **OTHER INFORMATION**
The Old Mill Foundation s a charitable company limited by guarantee and incorporated in England and Wales. Its registered office is:
2 Mount Street Gowerton Swansea SA4 3EJ
Page 15
## **The Old Mill Foundation**
I D Bowen & Co Chartered Accountants 19 Alexandra Road Gorseinon Swansea SA4 4NW
Dear Sirs
The following representations are made on the basis of enquiries of management and staff with relevant knowledge and experience such as we consider necessary in connection with your independent examination of the charity’s financial statements for the year ended 30 April 2025. These enquiries have included inspection of supporting documentation where appropriate. All representations are made to the best of our knowledge and belief.
## **General**
- 1 We have fulfilled our responsibilities as trustees as set out in the terms of your engagement letter dated 24 April 2025, under the Companies Act 2006 and Charities Act 2011 for preparing the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), for being satisfied that they give a true and fair view and for making accurate representations to you.
- 2 All the transactions undertaken by the charity have been properly reflected and recorded in the accounting records.
- 3 All the accounting records have been made available to you for the purpose of your independent examination. We have provided you with unrestricted access to all appropriate persons within the, and with all other records and related information requested, including minutes of all trustee meetings and correspondence with the Charity Commission.
- 4 The financial statements are free of material misstatements, including omissions.
## **Internal control and fraud**
- 5 We acknowledge our responsibility for the design, implementation and maintenance of internal control systems to prevent and detect fraud and error.
- 6 We have disclosed to you all instances of known or suspected fraud affecting the entity involving management, employees who have a significant role in internal control or others that could have a material effect on the financial statements
- 7 We have also disclosed to you all information in relation to allegations of fraud or suspected fraud affecting the charity’s financial statements communicated by current or former employees, analysts, regulators or others.
## **Assets and liabilities**
- 8 The charity has satisfactory title to all assets and there are no liens or encumbrances on the charity’s assets, except for those that are disclosed in the notes to the financial statements.
_Registered office: 2 Mount Street, Gowerton, Swansea, SA4 3EJ Company registration number: 5768149 Charity registration number: 1125120_
- 9 All actual liabilities, contingent liabilities and guarantees given to third parties have been recorded or disclosed as appropriate.
## **Legal claims**
- 10 We have disclosed to you all claims in connection with litigation that have been, or are expected to be, received and such matters, as appropriate, have been properly accounted for, and disclosed in the financial statements.
## **Law and regulations**
- 11 We have disclosed to you all known instances of non-compliance or suspected non-compliance with laws and regulations whose effects should be considered when preparing the financial statements.
- 12 We are not aware of any matters of material significance which should be reported to the Charity Commission.
## **Related parties**
- 13 Related party relationships and transactions have been appropriately accounted for and disclosed in the financial statements. We have disclosed to you all relevant information concerning such relationships and transactions and are not aware of any other matters which require disclosure in order to comply with legislative and accounting standards requirements.
## **Going concern**
- 14 We believe that the charity is a going concern on the basis current and future sources of funding or support will be more than adequate for the charity’s needs.
## **Grants and donations**
- 15 All grants, donations and other income, the receipt of which is subject to specific terms or conditions, have been notified to you. There have been no breaches of terms or conditions in the application of such income.
## **Income**
16 All income has been fully recorded in the records of the charitable company
## **Journal adjustments**
- 17 We acknowledge our responsibility for the financial statements and their preparation in accordance with UK law and UK GAAP and confirm that we have approved the journal adjustments made in the preparation of the financial statements as set out in the attached appendix to this letter.
Each trustee has taken all the steps that he ought to have taken as a trustee in order to make themself aware of any relevant information and to establish that you are aware of that information.
Yours faithfully
Signed on behalf of the Board of Trustees