,'1 age connects morgannwg. age connects morgannwg. Annual Report 202412025 Contents Page Chair's Foreword.................................................................................................... Our Vision, Mission & Values Making a Difference.. 2024-25 in Numbers...................................... Together for Older People.............................................................................. A Place for Everyone............................................,..................,,,........................13 Amplifying Our Voice.......................................,.................................................16 Securing the Future..................................................................................,...........18 Working for Change.............................................................................................21 Building a Resilient Organisation................................-............................22 How Can You Help Us? ..23 The Year Ahead.......................................................................,.,.............................24 Guided by Trust.....................-.................................................................................26 Financial Review.......................................................,............................................27 Independent Auditor's Report & Financial Statements...........34 Age Connects Morgannwg. Cynon Linc. Seymour Sireel. Aberdare. Rhondda Cynon Taf, CF44 7BD 01443 490650: informalion@acmorgannwg org.uk, www.acmor9annwg.org.uk Age Connects Morganwg helps older people In Biidgend. Merihyr Tydfil and Rhondda Cynon Taf. Registered charity no.. 1129973. Company Tegistered no.. 6717361. ICO.. Z3002679. Copyright 0 2025 Age Connect£ Morgannwg All rights reserved. This material musl not be reproduced or used In any manner whatsoever without the express wrillen permission of Age Connects Morgannwg. Since opening its doors in 2021, Cynon Linc has recorded 28&017 contacts, with numbers of beneficiaries growing annually. The ongoing success of the Hub is due to the fantastic work of the Cynon Linc team whq with extremely limited resources and an ambitious income generation largel, have worked iirelessly to develop a truly inclusive programme. Many of our visitors return daily or weekly to eat in the restaurant, attend classes or visit one of our many partner providers The whole ethos of Cynon Linc is that it is representative of the community it serves, that the activities delivered there reflect what people want and that those activities promote a sense of belonging, of community cohesion and ownership of the Hubs success. Across our charity services, we worked with 1&320 people to access information, advice and support that improved their quality of life, helped them regain their independence or gave them a stronger voice, compared to13,627 in the previous year. This is a slight decrease in ihe previous year, which reflects the cessation of our Joinl working in Teams service in March 2024. However, our At Age Connects Morgannwg, we believe all older Information and Advicelwelfare rights service people should have access and opportunities assisted an additional 3,000 people compared to engage in social activities that help reduce to the previous year, thanks to our Community feelings of loneliness and isolation., that they Caseworker Service. should have sufficient income to afford food, warmth and shelter and have the opportunity to work, participate and make choices about their lif& We believe they should be protected from financial, emotional, psychological, physical, or sexual exploitation, neglect and abuse and that they should be listened to and have their wishes respected when decisions are made about their independence, including where they live and who cares for them. Chair's Foreword age cwnects Our strategy for 2023-2026 entitled Together for Older People, clearly sets out a programme of work to deliver the strategic priorities that reflect our ambition and aspirations for older people. This Annual Report describes the progress we have made during the reporting year1si April 2024 to 31st March 2025 and are continuing to make in delivering on these priorities, through established services and new work programmes. During the reporting period,111,271 people used our services, attended our events, and engaged in our work. This includes 10Q306 contacts made at our Cynon Linc Community Hu The charity has continued to deliver the Trusted Assessor Project as part of the multi-disciplinary discharge planning team in general hospitals. Using Welsh Government Regional Integrated fundin9, the CTM Regional Partnership Board commissioned the charity to deliver the Home First Trusted Assessor Team from April 2024. Our community-based Support Worker Team has collaborated seamlessly with the Trusted Assessor team in providing the essential low- level, short-term support that can make such an enormous difference to the confidence of older people returning home after a hospital stay. As a generic charity for older people, our work often touches ihe lives of people living with dementia, both as the person with the diagnosis and those who provide their care and support. In 2021, the All-wales Dementia Care Paihway of Standards was published, which set out twenty standards aimed at improving dementia care for individuals and their carers and providing a clear pathway towards implementing effective standards in dementia care by 2023. We helped raise £2,992,309 in welfare benefits Standard twelve requires that 'People living with for people who were living in poverty or struggling dementia and their carers will have a named to pay for the care and support they needed to contact (connector) to offer support, advice live independently, compared to £1,734,789 in the and signposting, throughout their journey from previous year. This is a 530k increase and reflects diagnosis to end of life., In 2023, the Regional the impact of cost-of-living pressures and the Partnership Board commissioned the charity lo oulcome of our campaign to raise awareness deliver the dementia connector service through about the help and support available through a its new Dementia Matters Programme and the range of schemes and entitlements. service was re-funded for 2024-25. This report Across the UK news bulletins have reported on demonstrates ihe incredible difference being the unprecedented pressure faced by the NHS made by our Memory and Wellbeing Guides and and social care system, from ambulance waiting the Dementia Matters Team. times to delayed transfers of care for those who need ongoing care and support in the community. For over three decades, the charity has provided effective and impactful hospital to home and preventative services that help older people live Independently at home. Since publishing 'Passing the Baton, in 200& Welsh Government has been building on its commitment to improve hospital discharge planning and in 2018 the Discharge to Recover and Assess Model was introduced. This model was supported by a Hospital to Home Community of Practice, of which the charity is a member, who published key learning and practice examples of whole system approaches that worked well across Wales. More generally, we have continued to deliver services and support that focus on the health and wellbeing of older people who are experiencing feelings of loneliness or isolation. Our Volunteering Matters Programme offers something for everyone, whether it be face to face befriending through our Companions service or by more traditional written means through the Pen-Pal scheme. Our Volunteers work right across the organisation, as befrienders, admin support, catering assistants, play facilitators, activities co-ordinators and entertainers. I should take this opportunity to thank our incredible volunteer workforce for their dedication, their compassion and most importantly, their time. Our understanding of new opportunities that deliver for older people has never been stronger, or clearer, thanks to the work of our engagement and public affairs team. Through our Chief Executive, the charity continues to contribute to local, regional and national conversations on the issues that affect older people, providing a strong voice on issues such as access to public transport, access to care and support and on the impact of changes to healthcare provision or amenities like refuse collection and public toilets. The achievements and impact described in this report are testament to the dedication and resilience of our executive team who have experienced one of the most challenging periods in the charity's history, largely due to unprecedented challenges in recruiting into senior leadership vacancies. I would like to extend my personal thanks to our Senior Leadership Team, In June 202& our Chief Executive, Rachel Rachel, Jon and Karen for their superb teamwork, Rowlands, announced that she was leaving Age for their leadership and support of one another Connects Mor9annwg after 20 years of service. throughout the year. Despite the challenges While we are, of course, sad to see Rachel go, this they have faced and their considerably reduced is a moment of celebration and recognition. Her number, they have strength in depth of knowledge, contribution - not just to ACM, but to the wider creativity and tenacity resulting in their ability voluntary sector - has been nothing short of to achieve great things by working together. We extraordinary. Her leadership, vision, and tireless have also benefited from the services of Allyson commitment to improving the lives of older Griffiths and Denise Havard, both of whom people have left an enduring legacy. Thanks to stepped in to support the team with finance and Rachel, ACM is in a strong and stable position, project management. with solid foundations for the future. Rachel's departure will be deeply felt by colleagues, partner4 and the countless individuals and families whose lives she has helped to improve. As she moves into an exciting new role, we offer our heartfelt thanks for her outstanding service - and our very best wishes for the future. Finally, I would like to thank my fellow Trustees, our wider workforce, paid and voluntary, for their dedication and compassion in the course of our work. None of this would be possible without you. klo WORLD nF WOPK ywyd gwaith Al Memory or,d . W¢ttetr•re Lynda Wllliams Chair, Age Connects Morgannwg i* f41 Our Vision, Mission & Values Our Vision is to live and work in a society where older people are respected and enabled to meet their aspirations. This plan sets out how we will support older people to meet their aspirations and reach their full potential. Our Mission is to make a difference to the quality of life of older people and promote a ositive view of ageing. Our Values We Listen.. We put older people at the heart of all we do to achieve the best personal outcomes for those that seek our support. We listen to older people and use what they tell us to be a champion for their rights, dignity and respect. We Learn.. We welcome innovation and creative solutions to achieve the results older people want. We are committed to the improvement and growth of the people who work with us through personal development and lifelong learning. We Care.. We are compa55ionate and caring in everything we do. We recognise the diversity of lived experience and will challenge discrimination wherever and whenever we see it. We build relationships on trust, openness and integrity. We support one another to achieve their best. In shaping our obieclives. the trustee5 have considered the Charity Commission's guidance on public benefit. Including the guidance 'public benefit". running a charily IPB21.' Making a Difference :," age connects morgannwg. in Numbers 100,306 <>148 Cynon Linc People living with dementia anc4 carers supported 3736 . NaiL cutting appointments delivered 1562•' People welcomed at our coffee mornings Active volunteers making a difference .4016PJ. CLients supported with information & advice 27,353 IU1734 at the Hyb café Clients assisted with hospital discharge £1,575,570 . in benefits successfulLy claimed 169 U 5108 Home energy efficiency assessments completed Christmas cards sent through our festive appeal 9500) 1482 542 LEAP energy advice calls made People helped to improve their digital skills Befriending clients supported against loneliness £6,166,707 in savings and income gained by LEAP clients 740,030 53,750 People reached via social media Website visitors engaged online ogether for O er Peop Our Charity Development department delivers activities and services directly to older people. The team witliin this department are the Iieart of our charity duiiiig thi5 last year they have supporleo some of ihe m051 vulnerable people iri our area of benefii. througti celebratirig tliem, championing Ihein. listening lo them, and working alongside them as individuals to undeistand what is impoTlanl to them lo live as independent, as active and as happy as possible. Below are some of the achievements these services have accomplished in the last year, evidencing the impact we have made and how much of a difference we make to the lives of older people in Bridgend, Rhondda Cynon Taf and Merthyr Tydfil. Leaving No-one Behind Our Leaving No.one Behind programme corTiprise5 three s trands of work, Engage, Connect and Sustain. In the reportlng period, we successfvlly delivered: Connect 27 online scams awareness sessions to 251 people, helping them feel more confident 90ing online. 44 Digi Café sessions to 123 people. The digi café was originally established at Cynon Linc and has since been rolled out across RCT and includes health and cost of livin9 advice. 11 people aged 65+yrs provided with digital support at home, via our partners at Ability Net. Sustain Hosted Climate Action Group network at Cynon Linc to engage new members. 4 Community groups visited environmental projecls. Engage Attended 38 events to chat to people about their issues such as The Eisteddfod in Pontypridd Established a Teatime Club, based on an idea put forward by 4 local men. This club continues to be popular and helps combat loneliness & isolation during the early evening. Launched a Repair Café, ran over 3 sessions on Saturday mornings. Developed a Matinee Club where films were screened to event goers: "Best thing in Aberdare for ages Can't wait for next one First classl. EngAGE cultivates an environment where older people co-produce community projects, become local activists for change and improvement and create long term social connection& Connect focuses on ensuring older people are taken on the digitalisation journey in a way that they can engage with, identifying barriers anij developing solulions. These two strands will feed into Sustain, working towards becoming an accredited Net Zero organisation by 2040 and ensuring that older people are a significant part of this journey. The Engage Project aims to increase and diversify participation of the 50+ community by engaging with individuals and groups not currently using our services. In Ihis reporting period, alongside our Engage Manager, we employed an additional member of staff to support the delivery of the technical element of the project, enabling us to turn our consuliaiion on Digital Exclusion into practical help and support for people. pr Information, Advice and Assistance Th• energy4tsd $avkn9 SeThTIc• This quality assured service offer5 general ancl specialist advice and casework on a wide range of Issues affecting older people includirig., Maximising income and claiming welfare benefits. Care homes and charging procedures. Planning for the future - Wills, Funeral Plans and Equity Release. Aids and adaptations to help remain in your own home. Schemes to keep your home warm and energy efficient. Managing financial affairs and taxation. Housing and tenancy. Money Matter& During this period, the service supported 4016 people over the phone, at home, in community venues and at our Info Hub in Cynon Lin Aberdare, raising £1,575,570 in unclaimed entitlements. morgonft Together For Older People )il.Iw¢itsl Throu9hout the reporting period, our place based and community teams have attended the followin9 events: Information Day - Graig Community Centre Turning Ponly Blue Cost of Living Event - Maerdy Community Centre Eisteddfod (Pontypridd) Information Event - New Life Church Tonyrefail Pension Credit Information Day - Cynon Linc Warm Home Event - Bryn Cynon Strategy (LEAP) Pension Credit Advice Days in Maerdy, Maesteg, Coychurch, Pontyclun and Pontypridd Dementia Action Week- Pontypridd We have also continued our partnership with LEAP, offering free home energy advice in the community - supporting those at risk of fuel poverty, and helping people stay warm in their home& Home First Programme Our Better al Home Community Support Workers has this project helped received 608 referrals during the reporting, improve NHS performance providing ovei" 4260 home visits and 6086 hours by assisting with quicker, of support. safer patient discharges it This service enables inclividuals to build has also saved NHS staff clinical confidence in their own home and local time by providing information about the home community, following a discharge from hospital environment and taking on a liaison role with the or to prevent unplanned, emergency readmission. patient and their family. We have covered this The team provided holistic and person-centred role for clinical staff, meaning they can effectively assessments through a 'what matters to me, spend more time on-ward with their patients. conversation and worked with older people to We have added value to the patient journey seek appropriate community resources and and facilitated an improved patient experience support that made a real, and individual, difference by being a consistent point of contact boih in to their life. The Better at Home team received hospital and at home. Durin9 this period the 258 referrals from our own trusted assessor Trusted Assessor Team supported NHS staff project with the remaining referrals received from to assess almost 10,000 patients as part of a social services, other voluntary organisations, multi-disciplinary approach to discharge planning. family, friends and self-referrals. Our Trusted Assessors play an important and Our community support workers supported Bill to helpful role in ensuring patient flow and digital access the community independently by building information is compliant and up to date, thus confidence after a stay in hospital and recently reducing unnecessary delays and helping to prepare the patient for home. The team provided being widowed. This support reduced Bills feelings one to one, intensive support to 743 patients, with of loneliness and isolation and also prevented the need for formal care services, allowing Bill to 354 of these being referred to our community make choices ihat benefit him and promote his team for ongoing support after discharge. independence. Our goal is to support patients to regain their confidence and independence at home after a Our Trusted Assessor project is a new project hospital slay, and to work with colleagues across for Age Connects Morgannwg and focus5es on health and social care to reduce the risk of supporting older people leaving hospital. Not only unplanned readmissions to hospitaL 11 41 Volunteering Matters Over the past year. our volunteer led projects have made a sigriificant impact on the lives of oldei adults across Cwm Taf Morgannw9 Focused nn supporting individuals aged 50+ who are experiencing loneliness. isolation. and challenges in connecling with iheir community, the initiative has reached an imDressive 7.104 people. Our Reochin9 Out project, which includes face-to- face and telephone befriending, currently supports 383 people. Other key activities included a Pen Pal programme connecting 50 people through heartfelt letters, Coffee Mornings with 1,562 attendances, a Christmas Card Appeal reaching 5,108 recipients, and a Shoebox Appeal delivering gifts to 85 individuals. These efforts have brought joy, companionship, and a renewed sense of belongin9 to many. Our dedicated volunteers have Our Memory and Wellbeing Guides have made been instrumental, contributing an outstanding a significant impact this year, successfully 363,271 hours of their time to ensure no one feels supporting 148 newly diagnosed people living with forgotten. dernentia (PLWD) across Cwm Taff Morgannwg. One befriending participant shared.. °My volunteer Through this initiative, clients have received hos been a life saver. She is very helpful and essential emotional support, connections to pleasant. We have a good chat and a good laugh. other services, valuable information, advice, and I wouldn't manage getting Out to places like M&S a friendly ear. One client poignantly shared, <) highlighting This year's achievements highlight the power of the profound difference our support has made in connection and the importance of community- their lives. led support. As we look to the future, we remain committed to expanding our reach and continuing to bring warmth, friendship, and hope to those who need it most. Dementia Matters The project has been instrumental in providing a sense of community and reassurance to those navigatin9 the challenges of dementia. Our dedicated team has worked tirelessly to ensure that every client feels heard, understood, and supported. By offering personalised guidance and referrals to additional resources, we have helped clients and their carers access the services they need to manage their needs effectively. In addition to our Memory and Wellbeing Guides, our Activities Coordinators have delivered person- centred therapeutic activities in two care homes in Merthyr Tydfil. These activities are designed to enhance social skills, ensuring a better qualily of life for residents. The activities include a range of engaging and stimulating exercises tailored to the individual need5 of each participant, fostering a sense of accomplishment and joy. Overall, our efforts this year have been focused on improving the lives of those affected by dementia, providing them with the tools and support necessary to navigate their journey with dignity and hope. Keeping You on Your Feet Our affordable nail cutting service Simply Nails. wkiicli aims io reijuce falls and Increase independeiice for older people. contitiued lo thrive with 3.268 appointments provided in 2024-2025, and the team opening new clinics in 4 new venues responding lo the need in those local coiiimunities. In the reporting period we completed our 'F￿t First, project aimed at reducing the risk of falls and reduced physical activity for people with dementia because of poor foot and toenail care. The evaluation of the Feet First Project has demonstrated that we can deliver a tailored service for people living with dementia, that is person-centred, preventative, affordable and accessible. The daughter of a customer with dementia said Mr W was very unsteady on his feet which of the treatment her mother received, resulted in a fall. His family had not seen his feet for some time due to Mr W always wearing slippers. After his fall, and his family realising the extent of his nail growth, he was booked in for his first appointment with the ACM Nail Cutting team. Below are the before and after photos. His appointment took 2 hours, with Mr W delighted with the results and how much more comfortable he felt. 66 I never thought she would let you touch her feet, but Helen was just wonderful with her. Shefelt reloxed ond happy with the chotting for quite o while belore the treatment storted" Before Before Before After1st appointment After 1st appointment •• aF* ace for Everyone Cynon Linc is the charitys social enterprise community hub based in the heart of Aberdare, This year the hub has seen an increase in footfall and participation with visitor numbers reaching over 100,000 from people throughout RCT and further afield. Throughoul this year we have used our community spaces for all sorts of events including NHS 'Don't Fall For It, falls prevention sessions, Head Teacher Interviews, as a Polling Station in April 2024 for the UK Government General Election, awards ceremonies, exercise classes, wakes, baby showers and a hen party afternoon tea along with a summer and winter craft fayre. The diversity of our spaces means that we can cater for groups, large and small. Our Collaboration Suite (seats 12 people) is perfect for meetings, the Discovery Suite which holds up to 50 seats is used for craft classes, choir practice, training courses and Pilates classes. Our Main Hall can accommodate up to 220 people and is where our bigger events bring in people of all ages for sports, entertainment and learning. Apr - Jun 2024 July - Sept 2024 Oct - Dec 2024 Jan - Mar 2025 Total 23,542 24,284 2&094 12&386 1100,306 Organisations and activities that use the hub on a regular basis include Halifax outreach, Over 50s Forums, The Samarilans, Maihs Tutoring, Rhondda Cynon Taf County Borough Council, Behaviour Support groups, Teacher training, U3A, and'Education Other than School, art classes. Hyb Restaurant and Coffee Lounge Our bi-weekly afternoon tea offer was a big hit this year and attracted a new customer base who have continued to support the restaurant on a regular basis. We also enjoyed a number of Supper Clubs where customers experienced an eight-course themed taster menu, prepared by our talented Chef and his team. The Hyb also partnered with Unite Community to provide funding for hot drinks and meals for their clients who are experiencing homelessness within the Aberdare area. We continued to offer 'Pay it forward to those who needed it throughout the year. Thi5 service sees customers pay in advance for a meal or hot drink, which can be used by anyone who needs it later. We always ensure anonymity and dignity is upheld for those in receipt of these acts of kindness. The Hyb hosted another 'Breakfast with Santa, event in 2024 with two fully booked session& Children were offered a choice of reindeer pancakes, Christmas tree toast and toppings, or snowfiake porridge. Each child visited Santa and received a gift which were all funded by the Sobell Foundation. Events The hub hosts a wide range of events, classes and activities for all ages ensuring the venue is truly intergenerational - and this year also housed 124 evening and weekend events. These included: Event Date Noof Attendees 06/07124 44 Comedy Night Adele tribute night I Phil Collins tribute night Children's Halloween Disco 06112124 47 16/08124 39 30110124 154 Murder Mystery (Spring) Murder Mystery (Winter) Christmas Wreath making Summer Fun Day Christmas Dinner event 20/04124 34 30/11124 52 23111124 32 23107/24 1006 14/12/24 69 Pantomime 24101125 67 Little Lincs Our Little Lincs Stay & Play area continued to grow its audience and activities throughout this year with our employed playworker working closely with local a GP surgery to hold a breast- feeding advice group each v￿ek, and also with a group of local childminders to provide a safe, fun-filled session for the children they care for. We also commissioned Tee2Sugars (a local graffiti artist) to create a new animal themed mural on the walls in the play area. This theme was chosen to compliment a 'Forest-school' themed garden area planned over the next few year& Events and activities held at Little Lincs this year include Grinchmas Specia( Meet & Greet Santa, music mornings, sessions for babies and children with additional learning needs, Christmas Crafts, meet and greet with Stitch, World Book Day celebrations, Valentine's Day biscuit decorating, along with a number of children's birthday parties through our private hire provision. •• We can help you Tenants We currently have three permanent tenants w5thln the hub: Maendy Place Surgery joined Cynon Linc in August 2022. The surgery operates 4 days a week and brings a number of cusiomers and participants to the hub daily. Twisted Willows Holistic Therapies is a family wn business that offers Aromatherapy and Reflexology services. The services are available 7 days a week through an online booking portal. Barclays Bank in the Community are with us for 3 days per week offering advice and support to their customer& Customers can book appointments or walk in to access their services. Amplifying Our Voice Marketing and communications continue to play a vital role in delivering our organisational mission. These activities are central to raising awareness of our services among both current and prospective service users, building and reinforcing our brand identity, opening new channels for engagement and feedback, and supporting income-generating work such as event ticket sales and partnership development. They also help us grow and diversify our audience, ensuring that our messages reach the communities who need them most. Using analytics lo analysi5 Post-performance Digital in Action In 2024-25, our social media channels reached a record 740,030 people, far exceeding what traditional methods could achieve. This growth reflecis both increased digital engagement - especially among older adults - and the strength of our content strategy. Engagement has grown significantly. with more people liking, commenting, and sharing our posts. This not only shows our reach is expanding, but atso that our messaging is connecting meaningfully with audiences. We use analytics to guide our digital output. Understanding where our followers live, along with their gender and age group, helps us make data-informed decisions. It also identifies gaps where offline communications may be needed. Social media continues to be key in promoting events, celebrating volunteers, recruiting supporlers, and signposting people to our services. For many, our digltal presence is their first introduction to Age Connects Morgannwg. Our Approach Digltal platforms including our websites and social media channels - are now the primary way we connect with audiences. While cost- effectiveness is a benefit, our focus on digltal is driven by its speed, reach, flexibility, and ability to foster two-way communication. These tools enable us to respond in real time lo emerging issues, tailor messages to specific audiences. and share contenl ir) dynamic, engaging ways. Desplte this digital-first approach, inclusion and accessibility remain at the heart of our communication& Recognising that not everyone is online, we continue to produce high-quality printed materials - leaflets, event flyers, and posters - for distribution through GP surgeries, events, community centres, and other local venue& We also maintain a presence in traditional media to ensure our messages are accessible to offline audiences. ELldVIII- 10 IIIEINORLD Cioesoi'ibyd Campaign Highlights Christmas Card Appeal l December 2024 This campaign invited people to send Christmas cards with personal messages for older individuals living in residential care. A far-reaching digital campaign helped us reach 164,000+ people and collect 5,108 cards - more than double the previous year. Cards arrived from across the UK the USA, and New Zealand, highlighting the compassion of the public and the power of digital reach. Volvnteerg Week l June 2024 We amplified national messages and highlighted the work of our 81 volunteers, while promoting local event& The campaign generated 37,600 impressions and resulted in 13 new volunteer applications, showing how digital Storytelling drives real-world outcomes. Digital Transformation We led a full review of our Customer Relationship Management (CRM) system, working with an external consultant to identify a system fit for the next five years. A supplier has now been selected following a competitive tender and we continue to seek funding to advance the projecl. In the meantime, a staff-led review of our current CRM has been completed, and a programme of improvements is underway. We also introduced live chat on our websites, QR codes for easy access, online surveys for feedback, and additional downloadable resources to support users. We remain cornmitted to evolving our digital marketing exploring new platforms, improving content, and deepening audience engagement. At the same time. we'll maintain a hybrid approach to ensure accessibility for all. Our goal is clear: to ensure everyone who could benefit from our work knows who we are, what we dq and how to connect - whether online, offline, or somewhere in between. l•y Brand Development While maintaining the strength of our core brand and colour palette, we also developed complemenlary project brands - Teatime Club, Matinee Clul and EngAGE - to appeal to new and existing audiences wilh targeted messaging. Securing the Futur Whilsl we value the support of oui" public secloi partners. we must acknowlecjge that reliance on grant income is high risk and should be balanced with activity which generates profit the charity can use to sustain its future. To achieve this, we will recruit two new roles in 2025126. an Enterprise Manager to grow and diversify our paid for services an.d a Fundraising Officer. lo increase donations through public and corporate giving. A joint enterprise and fundraising Strategy will provide ACM with potential to generate the unrestricted income required to meet core costs and ensure increased resilience for the charity moving forward. The benefit of creating unrestricted income is more than covering core costs, it will give the charity flexibility to deliver services that respond to people's needs rather than relying on income from public bodies and grant funders. It allows a charity to roact quickly, to plan and to have greater leverage when negotiating with other funders. Fundraising activity during 2024-25 was limited due to vacancies in both our Fundraising Officer and Enterprise Manager roles. However, several staff-led initiatives helped to generate valuable income during the year. The most successful of these was our weekly Bonus Ball draw, organised by our Volunteer Team, which raised £2,81& Supporters, including individuals who had received help from our Information and Advice Team, contributed a further £2,347 through ad-hoc and regular donation& We also ran a small number of special fundraising events, including a sponsored walk up Pen y Fan, a Christmas Card AppeaL and our Loneliness Campaign, which together raised £1,222. In total, fundralslng activily generated £6,38", durin9 the year. Simply Life and Simply Financial In the absence of an Enterprise Manager during 2024-25, our Simply Life and Simply Financial initiatives remained dormant. However, preparatory work continued in anticipation of a future relaunch. A comprehensive business plan was developed accompanied by a full suite of marketing materials, positioning us to move forward with new delivery partners in 2025-2& simply Iron age connects mor9annwg simply financial ' age connects morgannw9 Path to Net Zero This year saw the launch of our first Carbon Reduction Strategy. As a charity, we recognise the importance - and the complexity - of balancing environmental responsibility with the delivery of vital services. Managing a busy community hub alongsi(le a dispersed, field-based workforce presents unique challenges. However, our commitment to reducing emissions also brings valuable opportunities, including access to new funding streams, the potential for job creation, and long-term cost savings. It also strengthens our reputation within the community as a forward- thinkin9 and responsible organisation. We have aligned our targets with the Welsh Government's Net Zero goals, aiming to achieve a 6310 reduction in emissions by 2035 and full Net Zero accreditation by 2045 - five years ahead of the UK tar9et. Achieving this will require a phased and strategic approach, but we are confident that the environmental, financial, and reputational benefits will be substantial. Simply Nails Our nail cutting servic4 which provides affordable nail cutting services to older people, remains a key service in our charity enterprise provision. Whilst we keep costs low, we aim to make a small profit to provide income to the charity to support projects that older people tell us are important to them. In the reporting period our nail cutting service made a profit of £1&665 which included income from a small grant, We were also successful in a substantial application to the Welsh Government Communities Facilities Programme. This will fund additional solar panets at Cynon Linc, thus reducing our energy costs and carbon footprint. Trust in Our Work The Charity continLtes to retain the trust and With the generous support of the Pen y support of many public sector funders to deliver Cymoedd Vision Fund, we have been able its work. Special thanks go to Cwm Taf to diversify and grow income opportunities Morgannwg University Health Board, Cwm Taf at Cynon Linc by organising more events, Morgannwg Regional Partnership, Rhondda experimenting with our restaurant menus and Cynon Taf County Borough Council and attracting more anchor tenants to share the Merthyr Tydfil County Borough Council for space. Little Lincs, which opened in 2022, will investing in services which help people return home safely from hospital, supporting people be replaced by Blossoms day nursery from September 2025, securing a more sustainable living with dementia, ensuring older people get future for the space and providing much access to good quality information and advice needed Flying Start places for local pre-school and recognising the importance of meaningful age children. activities for people living in residential care. We continue to engage our customers and the New investment from Welsh Government's wider public in conversations aboul what Cynon Single Advice Fund in 2025126 means that we Linc means to them, what they'd like to use can expand our provision of community-based it for and how we can make it better. There is social welfare information and advice, linking that work with opportunities to volunteer and no doubt that increasing annual running costs make it harder for Cynon Linc to be profitable, for older people to get involved in our work if we are to keep prices within the reach of our loyal customer base, so new and innovative ways of generating income from our many patrons will be explored in the year ahead. /Qx GIG /NHS Bwrdd lechyd Prifysgol Cwm Taf Morgannwg University Health Board Llywodraeth Cymru Welsh Govemment Cyngor Bwrdelstref Sirol MERTHYR TUDFUL MERTHYR TYDFIL Bhv¥dd Regiot Par6neriaeth Pa￿Tters11p Flw)barbhcA Board RHONDDA CYNON TAF County Borough Council Cronfa Gymunedol Fferm Wynt PEN Y CYMOEDD Wind Fann Community Fund CIC Working for Change- Age Connects Morgannwg has long worked with partner or9anisations to brin9 about change and improve the lives of older people across our footprint. Close relationships have continued, and new relationships developed. with supportive elected officials who have helped keep the welfare of older people at the forefront of decision making. We have continued to invite politicians across all levels of Government to meet with our CEO, as well as to shadow frontline staff and volunteers, to betler understand the support we can provi(Je to their constituents We have responded to a plethora of Government consultations on issues that affect - or might affect older people. These have included consultations on Assisted Transport, Residential Care, Digital Inclusion, Local Authority Budgets, Aclive Transport and Hospital Discharge. Our aim is lo always share the voice of older people, so that what they tell us is important to them, is fed back to the decision makers who can make a difference. As an organisation we have also b￿n heavily involved in the Pension Credit uptake campaign, a partnership campaign alongside Cwm Taf Morgannwg University Health Board, Citizens Advice RCT and others. The aim of the campaign was to reach the estimated 7,000 people in Cwm Taf Morgannwg not claiming their Pension Credit, to make them aware of their entitlement, and to support them to apply for it. The Innovation Sprint Project successfully identified 689 patients with respiratory health conditions through public health screening., delivered fi768 instances of outreach support through direct engagement,. assessed and supported 1,890 clients, securing additional annualised income totalling £1,655,552. Additionally, we anticipate further annual income gains of £961,103 from pending applications, highlighting the significani financial impact and enhanced support provided to the community of Cwm Taf Morgannwg. Our CEO slts on the following groups. ensurln9 as a local or9anisation we have a seat at the table to represent the Ilved experience of those we support: 1. Age Connects Wales 2. Cwm Taf Morgannwg Regional Partnership (until12 June 2025] TSPC Ministerial Advisory Group (until12 June 2025) 4. TSPC Health, Social Care and Wellbeing Planning Group Cuntil 12 June 2025) 5. CTM 2030 Leaders Network & VAMT Third Sector Leaderfs Network 7. Pension Credit Uptake Campaign Partnership & Northern Cynon Valley Development Group 9. RCT Community Support Steering Group Building a Resilient Organisation We conlinue to deliver Qui Sirategic Plan despile c￿￿llengeS in rerruiliri9 to our senior leadership team. Special Ihanks go lo Denise Havard fspecial Projects Maiiager) aiid Allyson Giiffiihs (Inleiim Head of Finance) for stepping Into key roles that helped us secure additional fundiiig. manage sustaiiiability proierls arid whicli vely. Quallty Is about Irying to do better: better in both the services the organisation offers and in the way the organisation runs. Age Connects Morgannwg invests in quality to: Improve effectiveness and efficiency. Improve satisfaction of service-users, staff, and volunteers. Develop consistency across sites and services. Checking and prevention of potential risks and issues. Volunteers continue to play a vital role in the charitys success and provide support to every aspect of the charity's business. During the year, two volunteers went on to secure paid employment with us, in our Central Support Team and in our Kitchen Crew. We are committed to creating and offering genuine, meaningful opportunities for people to volunteer in a way that makes a difference to their life and adds value to the organisation. We have continued to recruit staff, trustees and volunteers who reflect the diversity of the society we live in and deliver services to. We have developed policies and work practices which ensure our staff, volunteers and service beneficiaries are represented, treated equitably and with compassion. We aim to promote the Welsh Language and improve the number staff who have no knowledge of the Welsh Language by ai least 5 /0, as part of the Well-being of Future Generations Act goaL A Wales of vibront culture and thriving Welsh IGn9uage. Age Connects Morgannwg is constantly looking to Improve and enhance our service quality. Through effective use of service-user feedback, all services are regularly evaluated, and information collated is utilised to improve and inform service delivery models. Set improvement targets and priorities and monitor progress against them. Comparison with other organisations, leading to improvements. Demonstrate quality of service to funders. Advice Quality Standard Age Connects Morgannwg successfully retained the AQS standard for a further two years in December 2024. Our retention of this standard will continue to demonstrate that the organisation facilitates 8 Positive culture of involvement and consultation, strong team warking and loyalty to the organisation. We have a comprehensive referral and signposting procedure. There is a very strong commitment to meetin9 service users, needs through effective quality procedures and a committed and professional workforce. Advice guality How Can You Help Us? There are lots of ways to support Age Connects Morgannwg and every one of them makes a difference. Whether you choose to donate. volunteer your time, share our posts, or simply follow our journey, your support helps us provide vital advice, events, and services for older people across our communities. Ways You Can Support Us: Donations Make a one-off gift Set up a monthly donation Leave a Legacy Remember us in your will Request donations in memoriam P Get Social FolLow us on social media Like, comment on, and share our posts Help spread the word Volunteer With Us Become a befriender Help as a community driver Support at events Lend a hand in our offices Choose Our Services Visit our café at Cynon Linc Come along to our events Book a nail-cutting appointment Use our trusted estate planning service Ready to help. Scan the QR code: Or visit www.ageconnectsmorgannwg.org.uk/volunteer Age Connec15 Morgannwg. Reg Charity No1129973. Company. No. 6717361. ge connects aim hat's Yours! friendly team helps with fit eligibilily checks and I,,cations. . ￿alK"&All￿V4nce". rs Alltrwaricè >￿￿11 TaxlHty&5th9,kne&i , gary &nefiis , . rf4SKffi"Qedsl ,,xo1, F￿d ApploalThl, The Year Ahea 2025- 26 is inlended lo be the final year of the Our plan to secure funding to support a current Strategy, Together for Older People. Fundraising Officer and Commercial Manager However, with the prospect of a new CEO joining remains very much at the forefront of our efforts, the organisalion at the lail end of 2025, the Board along with digital transformation which will allow has decided to extend tlie current strategy lo us to integrate our systems, creating efficiency and 2027, giving the riew sonior leadership learTI lime offering an enhanced customer experience. Icj work with the Board and develop their Vision We have recruited a dedicated Volunteer Co- ordinator to deliver a new Volunteering Strategy as part of our Connected Communities Programme. Our Reaching Out and Keeping in Touch work will continue through the Companions Projecl and our Befriending Service, bringing together thousands of people through writlen and in- person opportunities to connect. At Cynon Lin4 we look forward to welcoming Blossoms Day Nursery as one of our anchor tenants, who will be providing essential Flying Start places to over 30 children. Snr +4p *', + The year ahead will be both challenging and exciting as a new CEO is recruited. New appointments to the Head of Charity Development and Finance and Corporate Services Lead roles early in 2025 bring a fresh opportunity to create a resilient and senior team, who can build on the charitls strong position. Our vision to transform ACM into an agile, financially independent organisation that can swiftly respond to the needs of older people without being constrained by external funding cycles, will be met through the delivery of the following activities: Employing a Commercial Manager and Fundraising Officer to drive forward our income generation strategy, Developing and deploying a bespoke CRM system. Carrying out feasibility of enterprise ideas Implementing enterprise ideas that meet our threshold for making profit. Developing and delivering a programme of fundraising events and activities. Our database of organisations, people, service engagements, and outcomes is one of our most valuable assets. By consolidating this data into a single, integrated platform, we aim to enhance our ability to support individuals, streamline operations, and unlock new opportunities for income generation. To ensure we achieve this goal, we engaged an independent company to review our existin9 software and applications. Their findings included recommendations for the development of a bespoke system designed to fully realise the potential of our data. Informed by this report, we developed a comprehensive specification and invited tenders for the development and deployment of a fit-for- purpose, custom CRM system. The primary objective of the proposed CRM is to create a unified platform that provides a clear, holistic view of ACM'S operations and provide a robust, integrated platform offering: Case Management.. Streamlined tracking and management of case& Work Monagement Dashboards.. Real-time visibility into operations and workfiows. Bookin9s.' Seamless schedulin9 and appointment management. Fundraising and Marketln9.' Enhanced tools for donor engagement and campaign mana9ement. Third-Party Integrations.. Seamless connectivity with platforms like Xero ond Breathe HR. Advonced Reporting and Analytic& Data-driven insights to inform decision-making. Looking ahead, we plan to introduce Al-driven tools to further enhance the user experience, improve operational efficiency, and deliver even greater value to our stakeholders. Guided by Trust Age Connects Morgannwg is a charitable company limited by guarantee and operates across the Cwm Tof Morgannwg health board region, which includes Rhondda Cynon Taf, Bridgend and Merthyr Tydfil. The day to day running of the charity is the responsibility of the staff team, supported by a network of volunteers and overseen by a Board of Trustees. The Trustees make all the decisions on any major expenditure and set the strategic direction for the Charity. Our current Board of Trustees comprises five Trustees with a range of specialist skills and experienc& The Board meets a minimum of 4 times per year to conduct general business plus development sessions and ad-hoc meetings to discuss specific opportunities or risks. The Board has the power to meet online but makes every effort to hold its general board meetings in person. Trustees regularly review their skills, knowled9e and experience to ensure they identify any gaps that need to be filled. Pl o i'r byd GWERSI GYFER BY lills f, In the year ahead, the Trustees plan to recrult new members with the following skills: Finance and Accounting Commercial/Entrepreneurship Charity fundraising Marketing Environmentallsustainability Digital Technology Further development plans include: Review and revise the Trustee Skills Matrix Improve Trustee Information and Inijuction packs Develop Trustee Recruitment Video Annual Board Development Days alè5 Financial Review A detailed analysis of income and expenditure for 2024-25 has been completed and compared with arialysis from previous years Tlie business plan addresses perceived weaknesses and idenlifjes polenlial opporlunilies. Regular moriihly repoiling procedures ensure that senior managers and Irustees are aware of the actual position in respect of income and experiditure agaiiisl forecasts. Contingency plans have been established to lake corrective action. where necessary. The Charity will, lo a certain extent, always be al risk of cuts lo funding and contracls It Is, liowever. able lo react to cuts and that is ali important Quality for aiiy Iliird secior orgaiiisation. The Charity's ability to 'cut its cloth, in the last year speaks f or itself. In August 2019, the charity started io utilise a 'Full Cost Recovery. model for the allocating of its expenditure. This meant that the true cost of each service level agreement was recognised, and the central office expenditure was decreased. -n c£ fj023-, 'h ?nfj4_25 The Statement of Group Financi81 Activities for the year is set out on page 37. Total incoming resources for the Group increased from £1,095,377 to £1,561,833 an increase of 42.6%. This increase largely relates to an increase in funding from Cwm Taf UHB and an increase in restaurant income. Total resources expended increased from £1,209,237 to £1,561,150 an increase of 29.1%. Employee costs represent 71.3% (2024: 64.9%) of total expenditure, and these have increased from £785,210 10 £1,113,748. The subsidiary company made a profit for the year of £60 for the year compared to a loss of £76 in 2024 and has shareholders, funds of £2,615 (2024: £2,555) Investment Policy The review of Age Concern Morgannwg's investment policy will resume when the new Head of Finance has commenced their employment. Reserves Policies The Trustees have not reviewed the reserves policy this financial year but a full review will be unijertaken once the new Head of Finance has commenced their employment. The Board has deslgnated funds for the following purposes: Age Connects Wales Membership. Business Continuity Developing of Trading Opportunities. Digital Improvements. General Reserve Fund The reserve policy operates against a challenging operating climate and in the opinion of the trustees will continue to be under pressure lo meet charitable obligations in the future in the development of Charitable Aims. In previous years the review concluded that a General Reserve Fund equivalent to approximately six months of operating costs 15 desirable but this will be reviewed in 2025-26 a5 highlighted above. This fund includes funds designaled for specific purposes. The revised reserves policy will recognise the need to hold reserves to ensure funds are available to pursue the primary objects should the income levels fall, and to be able to operate an exit strategy should the Charity have to cease operations. A robust piece of work was undertaken to review the reserves position at 31.03.24 and reserve opening balances have been restated. The comparable figures highlighted below are the restated fi9ures. Total reserves are £2,392,549 {2024.. £2,391,866) at the balance sheet date. Of this £1,912,456 [2024= £1,938,933) is represented by tangible fixed assets, leaving £375,989 [2024: £36&348) as the free reserves. This amounts to 24.1 % (2024: 3A4%) of total income. The free reserves of £375,989 represents 24.1% (2024: £366,348 and 30.3°A) of the operating cos( or the equivalent of 3 months (approximately) of operatin9 Cost. The charity aims to maintain a minimum 6 months of operating costs in free reserves and will endeavour to return to this position in the coming 12 months. The most recent review of closure costs of the charity were assessed at £241,443 in 2024 but a more robust evaluation will be undertaken when the new Head of Finance has started their employment with the Charity in November 2025. It should be noted that in addition to the free reserves, there is a total of £65,070 (2024: £70 ,570) allocated to designated reserves (detailed in Note 22). This leaves an available free reserves figure of £375,989 (2024.. £36&348). Although the reserves position is far more positive the Charity remains is in a challenging position financially, and continues to actively pursue additional funding options, both project related, and contributions towards core rurbning costs, focusing on commercial income streams. The reserve policy operates against a challenging operating climate and in the opinion of the trustees will continue to be under pressure in meetin9 charitable obligations in the future in the development of Charitable Aims. Restricted Funds These funds, amounting to £1,951,490 (2023: £1,954,948) in total, are restricted to the purposes identified in note 21. Of this restricted reserve figure of £1,803,416 (2024.. £1,829,09) is in relation to funds connected to the Cynon Linc Construction Project. STRUCTURE, GOVERNANCE AND MANAGEMENT The Chaiity has a general vision of a society where older people are respected and eriabled lo meet their aspiralions_ The mission of the Charity is to improve the quality of life of older people. Governing Document & Legal Stalus Age Concern Morgannwg (the Charity) is a Charitable Company. Company number.. 06717361 with charitable status, governed by a Constitution - Registered Charity Number'.1129973. The Charity, s operating title is Age Connects Mor9annw9. The Charity was constituted in 1977 following registration in 1978 as the Council for the Elderly in Mid Glamorgan. In 1999, a further resolution was passed and approved by the Charity Commission for the name of the Charity to become A9e Concern Morgannwg and that its area of benefit changed to reflect the local government reorganisation. Mernbership Membership of the organisation is open to individuals and organisations who apply to the Charity and are approved by the Trustees. Membership is not transferrable and, currently, the only members of the organisations are the Directors of the organisation who also comprise of the Board of Trustees. The Direclors have the right to eslablish classes of membership with different rights and obligations which are recorded in the register of members. Appointment of Trustees A regular review of the Boards succession and skills needs are performed to ensure thal the Board recruit trustees to meet its skills gaps and support its strategic leadership through a fair, equal and consistent recruitment process. Applications for potential trustees are sought by press advertisement, through registration with appropriate local networks and associations, and through invitations sent out in member mailings. An individual aged16 years and older may apply. Membership of the Board of Trustees consists of the Chair, Vice Chair and three other Trustees elected by members of the Charity as determined by the Charitys Regulations. The Board also has the power to co-opt persons to serve as members of the Board until the next election of Trustees. Board members become members of the Charity from the time of their election. One-third of the trustees are reouired to stand down by rotation at each annual general meeting and may seek further reappointment. Trustee Induction L Training The Charity has completed its review of the process for recruiting Trustees. Potential Trustees are initially provided with reports and ihe organisation's strategy, that will enable them to judge whether to pursue an appointment. Application forms are completed prior to an interview with the Chair of the Charity and the Chief Executive Officer. If candidates are regarded a5 5Uitable, and wish to pursue an appointment, they are invited to observe a Board or Committee meeting and their application reviewed by the Board. Following satisfactory completion of the recruitment process, the Board will recommend appointment, as a trustee, to the Annual General Meeting. The ongoing induction process involves meetings with key staff and attendance at training sessions, conferences, trustees and staff away days. Organisation Governance and Structure The Board has the overall responsibility for the governance of the Charity. It meets at least four times a year. The Board delegates, authority to the Charity Executive who leads the Management Team in the day to day management of the Charity, working within the financial framework, procedures and policies set down by the Board. The Chief Executive has delegated authority for human resource planning, employment, service development and finance. The Board also delegates authority to the non-executive directors of its one subsidiary, Age Concern Morgannwg Trading Limited. In March 2023 one of its Directors resigned due to work commitments, leaving just one Director in place. In August 2023, that Director resigned due to ill health. The Chief Executive Officer was appointed as the sole Director in August 2023, whilst discussions about the company's future were held by the Charity Board. In August 2025 attempts were made to dissolve the company which is still in progress with HMRC. The Chief Executive resigned at the end of August 2025 and the new Directors are Lynda Williams (Trustee) and Stuart Morgan. The Senior Leadership Team (SLT) has had a number of changes during the reporting period. Chlef Executlve Rachel Rowlands {resigned 22108/25) Head of Charity Development Stuart Morgan (appointed 07107125) Head of Charty Development Lisa Gilchrist (resigned 15107124) Head of Communications and Marketing Jonathan Curtis Head of Finance & Resources Steve Pearce (resigned 26/09124) Head of Finance & Resources Cathy Groves (appointed 25111124 resigned 04103125) Head of Pinance and Resovrces Interim Allyson Griffiihs (appointed 26109/24) Cynon Linc General Manager Karen Davies Publlc Affairs and Partnership Manager Bethan Shoemark-spear (resigned 19109/25) In previous years renumeration for SLT was determined by a Management pay structure reviewed annually by Trustees. This year the salary for Head of Charity Development and Finance and Corporate Services Lead was increased to attract suitable candidates. Related Parties The Charity is an active member of Age Connects Wales (ACW) (Company Number.. 8104542). The alliance is made up of independent and aulonomous Age Connect organisations, which share common aims and values working together to a(Jd value to the work and role of Age Connect in Wales. Our membership of Age Connects Wales does not impose any influence or requirements on the Charity's internal policy or strategic planning framework, nor does it have any financial implications. Risk The systems and internal controls eslablished by the Board are designed to prowde reasonable, but not absolute, assurance against material misstatement or loss, Twstees and senior staff carry out the risk assessment in order to confirm that the major risks to which the Charity is exposed have been reviewed and systems established to mitigale those risks. The Board has identified the following significant fisk areas (alx)ve score 12) and the Board monitors these risks together with the mitigating controls and actions on a regular basis: The scorin9 Puts greater emphasis on impact and uses the scoring system from the Charity Commission, Charities and Risk Management (CC26}. Risk Rating lrnpact: 1- Insignificant. 5 - Catastrophic Risk rating Likelihood: 1- Remote., 5 - Highly probable Risk and Mitigatlon Likelihood (x) Impact Score (Ky+y) (y) Targets not achleved for Core Funding: Develop an income generation strategy that reflects the strategic objectives of the charity. 20 Sustainability of Project Income: Potential loss of existing public sector contracts resulting in.. Inability to deliver services to older people and meet our Charitable Purpose Significant redundancies Financial Contribution to the charity's infrastructure and core services. 20 Inability to recruit and/or retaln skllled and talented staff: Development and implementation of Work Force Development Plan with annual appraisal and training audit/programme. 16 Data Protection: Work continuing to achieve Cyber Essentials. Training Programme funded by the PCSS to improve data management and cyber security. 20 Changes in the Polllical Landscapw. Political instability and changes can mean we need to develop new relationships with key decision makers, as well as different parties/ leaders and individuals having varying priorities. 30 REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Company Number Reglstered Charity Number Principal & Registered Office 06717361 Auditors Azets Audit Services Ty Derw Lime Treet Court Cardiff Gate Business Park Cardiff CF23 8AB 1129973 Cynon Linc Seymour Street Aberdare CF44 7BD The Directors and Trustees The trustees who served on the board of the Charity during the period vlere as follows: Lynda Williams (Chair) (appointed Chair 05112/23) Lynda Chandler (Vice Chair) [apF)ointed Vice Chair 05112123] Kristian Howell (resigned 19108125) Geoffrey Watts {resigned 19108125) Nicola Morris (resigned 19108/25) Rachael Nicholson Alison Johnson Andrew Cobb (appointed 20108/24) Karen Davies (Company Secretary) (appointed 22108125) Age Concern Morgannwg Trading Limited The directors of the charily's trading subsidiary who served durin9 the period were as follows.. Rachel Rowlands 88nkers Barclays Bank plc 91 Taff Street Pontypridd CF37 4SN Handelsbanken Cardiff Branch 2 Callaghan Square Cardiff CF10 5AZ Nationwide Building Society Kings Park Road Moulton Park Northampton NN3 6NW Monmouthshire Building Society John Frost Square Newport NP20 1PX Solicitors GP Law Marchant Harries 17119 Cardiff Street Aberdare CF44 7DP Chief Executive Officer Rachel Rowlands Senior Lpadership Team Head of Finance and Resources Steve Pearce {resigned 26109124) Head of Finance and Resources Cathy Groves (appointed 25/11/24 resigned 04/03125) Head of Finance and Resources (Acting) Allyson Griffiths (appointed 25/09124) Head of Charity Development Lisa Gilchrist (resigned 15/07/24) Head of Charity Development Stuart Morgan (appointed 07/07/25) Head of Communications and Marketin9 Jonathan Curtis Cynon Linc General Manager Karen Davies Public Affairs and Partnership Manager Bethan Shoemark-spear (resi9ned 19109125) STATEMENT OF TRUSTEES RESPONSIBILITIES The trustees, who are also the directors of Age Concern Morgannwg Limited for the purpose of company law, are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the Charitable Company for that year. In preparing those financial statements, the trustees are required to: Select suitable accounting policies and then apply them consistently. Observe the methods and principles in the Charities SORP. Make judgemenls and estimates that are reasonable and prudent and Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charitable Company will continve in operation. The irustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at ary time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 200& They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other Jurisdictions. STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audil, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish thal the auditor is aware of such infomation. This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charilies (effective 1 January 2015) and in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. The Report of the Trustees was approved by order of the board of trustees, as the company directors, on the 2511112Sand signed on the boards behalf by. Lynda Williams (Chair) Date: AGE CONCERN MORGANNWG LIMITED A COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF AGE CONCERN MORGANNWG LIMITED Oplnlon We have audited the accounts of Age Concem Morgannwg Limited (the 'parent charitable company,) and its subsidiaries (the 'group'} for the year ended 31 March 2025 which ¢omprise the group statement of financial a¢tivities, the group balance sheet, the charrtable company balance sheet, the statement of cash flows the group statement of cashflows and the notes to the accounts, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and unit￿ Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United Kingdom GenerallyAccepted Accounting Practice) and the Charilies SORP 2019. In our opinion, the financial statements.. give a true and fair view of the state of the group's and the parent Gharilable company's affairs as at 31 March 2025 and of the group's incoming resources and application of resources, including its income and expenditure, for the year then ended., have been properly prepared in accordance with United Kingdom Generally A￿epted Accounting practi￿.. and have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities SORP 2019. Ba$is for oplnlon We ¢onducted our audit in accordance with Intemational Standards on Auditing (UK) {ISAs {UK)) and applicable law. Our responsibilities under those standards are fvrther descrFbed in the Auditorfs ￿SpOnsIbl/ltieS for the audrf ol the financial statements section of our report. We are independent of the Charity in acmrdance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other elhical responsibilities in accordance wilh these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial slalements, we have ¢oncluded that the Trustees use of the going concern basis of accounting in the preparalion of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on thé group's or the parent charitable company's ability to continue as a going concem for a period of at least twelve months from when the finanual statements are authorised for issue. Our responsibilities and the responsibilities of the Twstees with respect to going ¢on¢ern are described in the relevant sections of this report. Other infomiation The other information comprises the information included in the annual report other than the fInar￿la1 statements and our auditor's report thereon. Th8 Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent othe￿iS8 explicitly stated in our report, we do not express any form of assurance conGlusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or olheNise appears to be materially misstated. If we identify such material inconsistencies or apparent material misststements. we are required to determine whether this gives rise to a material misstatement in the financial slalements themselves. If. based on the work w& have performed, we condude Ihat there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. -34- AGE CONCERN MORGANNWG LIMITED A COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF AGE CONCERN MORGANNWG LIMITED Opinlon$ on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of our audit.. the information given in the Trustees report for the financial year for which the financial statements are prepared, whith includes the directors, report prepared for the purposes of company law, is consistent with the financial statements,. and the directors. report included within the Trustees report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the group and the parent ¢haritable company and its environment obtsined in the course of the audit, we have not identified material misstatements in the directors, report included within the Trustees report. We have nothing lo report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if. in our opinion: adequate accounting records have not been kept, or returns adequate for our audit have nol been received from branches not visited by us- or the parent charitable company's ac¢ounts are not in agreement with the accounting r8cords and retums,. or certain disdosures of trustees, remuneration specified by law are not made.. or we have not received all the infomiation and explanations we require for our audit. or the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies. exèmptions in preparing the Trustees report and from the requirement to prepare a strategi¢ report. Responsibilities of Trustees As explained more fully in the statement of Trustees responsibilities, the Trustees, who are also the diredors of the Charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Truslees detennine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the parent charitable ¢ompany's ability to continue as a going ¢on¢em, disclosing. as applicable, matters related lo going concern and using the going concem basis of accounting unless the Trustees either intend to liquidate the group or the parent charitable company or to Cease operations. or have no realistic altemative but to do so. Auditorfs responslbllttles for the audit of the finan¢ial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error. and lo issue an auditor's report that indudes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in ac￿rdanCe with ISAS (UK) will always delect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of Ihese financial slatements. A further description of our responsibilities is available on the Financial Reporting Council's website at: https.'Il www.frc.org.uldauditorsresponsibilities. This description forms part of our auditols report. -35- AGE CONCERN MORGANNWG LIMITED A COMPANY LIMITED BY GUARANTEE INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF AGE CONCERN MORGANNWG LIMITED Extent to which the audit was considered capable of detecting irregularltles, Including fraud Irregularities, including fraud, are instsn¢es of non-compliance with laws and regulations. We design procedures in lin8 With our responsibilities, outlined above and on the Financial Reporting Council's website, to detect material misstatements in respect of irregularities, including fraud. e obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entty is complying with that framework. Based cn this understanding. we identify and assess the risks of material misstatement of the finanoial statements, whether due lo fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, in¢luding fraud. In response to the risk of irregularities and non-compliance wilh laws and regulations, inclLtding fraud, we designed pro￿dUreS whith included.. Enquiry of management and those charged with govemano around actual and potential litigation and laims as well as actual, Suspected and alleged fraud. Reviewing minutes of meetings of those charged with govemance,, Assessing the extent of compliance with the laws and regulations considered to have a direct material effect on the financial statements or the operations of the entity through enquiry and inspection., Reviewing financial staternenl disclosures and testing to supporting doGumentalion to assess Compliance with applicable laws and regulations., Performing audit work over the risk of management bias and ove￿Ide of controls, including testing ol journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside th8 normal course of business and reviewing accounting estimates for indicalors of potential bias. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that ¢ompliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of noTrcomplianee. The risk of not detecting a material misstat8menl resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations. or the override of internal control. Use of our report This report is made solely to the charilable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charilat4e company's members those matters we are required to slate to them in an auditor's report and for no other purpose. To the fvllest extent pennitted by law, we do not accept or assume responsibility lo anyone other than the charitable company and the charilable company's members as a body, for our audit work, for this report, or for the opinions we have formed. Katherlne Parkin {Senlor Statutory Auditor) For and on behalf of Azets Audlt Servbces. Statutory Audltor Chartered Accountants Ty Derw Lime Tree Court Cardiff Gate Business Park Cardiff SoLrth Glamorgan CF23 8AB Dale.. 01 December 2025 -36- AGE CONCERN MORGANNWG LIMITED A COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrostrlcted Restricted funds funds Total Unrestricted Rostricted Total funds - a$ funds - as as restated restated reststèd 2024 2024 2025 2025 2025 2024 Notss Income from: Donations and legacies Charitable actiwlies Other Irading activities Investments 6,262 6,262 160,779 1.130,236 1,291.015 261,943 261.943 2,613 2,613 6,364 140.646 232,047 2,353 6,364 854,613 232,047 2.353 713,967 Total income 431.597 1,130,236 1,561,833 381,410 713,967 1.095,377 Expenditure on: Raising funds Charitable activities 59.351 59,351 368,105 1,133,694 1,501,799 61,542 409,280 61,542 738,415 1,147,695 Total expenditure 427,456 1,133,694 1,561,150 470.822 738,415 1,209,237 Net incomel{expenditure) and M0ven￿nt in funds 4,141 (3,458} 683 {89,412) (24,448) (113,860) ReGonGiliation of funds: Fund balances at 1 April 2024- as restated 436.918 1,954,948 2,391,866 526.330 1,979,398 2,505,726 Fund balances at 31 March 2025 441.059 1,951.490 2.392,549 436,918 1,954,948 2,391,866 The stslement of financial activities includes all gains and losses recognised in the year. All income and expendilure derive from continuing activities. -37- AGE CONCERN MORGANNWG LIMITED A COMPANY LIMITED BY GUARANTEE BALANCE SHEETS AS AT31 MARCH 2025 Group 2025 Charity 2025 Group Charity 2024 2024 As restatsd As restated Notes Fixed assets Tangible assets Fixed asset investments 14 15 1,912,456 1,912,456 1,938,933 1.938,933 1,912,456 1,912,458 1,938,933 1.938,935 Current assets Stocks Debtors Cash at bank and in hand 17 18 7,176 362,296 203,538 7,176 362,296 203,538 105,322 438,832 114,489 427.110 573.010 573,010 544.154 541,599 Credltors.. amounts falling due within one year 19 (92,917) (95,532) (91,221) (91,221) Net current assets 480,093 477,478 452.933 450,378 Total assets less ¢urrnnt liabllltles 2.392,549 2,389.936 2,391,866 2,389,313 Income funds Restricted funds Unre cted funds Designaled funds G8neral unrestri¢ted funds 21 1,951,490 1,951,490 1,954,948 1.954,948 22 65,070 375,989 65,070 373,376 70.570 366,348 70,570 363,795 2,392,549 2,389,936 2,391,866 2,389,313 The financial stalements were approved by the board of diredors and authorised for issue on ......................... and are signed on its behalf by.. Lynda Wllllams - Chalr Company Registration No. 06717361 -38- AGE CONCERN MORGANNWG LIMITED A COMPANY LIMITED BY GUARANTEE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Cash flows from operatlng actlvities Cash abso￿ed by operations 27 (229,4921 (127,626) Investing activities Purchase of tangible fixed assets Investment income received (8,415} 2,613 (840) 2,353 N•t cash {used inllgenerated from Investlng activities (5,802) 1,513 Net cash generated from financing activiti08 Net decrease in cash and cash equivalents {235,294) {126.113) Cash and cash equivalents at beginning ofyear 438,832 564,945 Cash and cash equivalents at end of year 203,538 438,832 -39- AGE CONCERN MORGANNWG LIMITED A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Charity infomiatlon Age Concem Morgannwg Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Cynon Linc. Seymour Street, Aberdare. Glamorgan. CF44 7BD. 1.1 Accounting convention The financial ststements have been prepared in accordance with the Charitvs governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland. ("FRS 1021 and the Charities SORP "Accounting and Reporting by Charities: Statement ol Recommended Practice applicable to charities preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" {effective 1 January 2019). The Charity is a Public Benefit Entity as defined by FRS 102.. The financial ststements are prepared in sterling, which is the fijnctional currency of the Charity. Monetary amounts in these financial slatements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopte(J are set out below. The financial stalements consolidate the accounts of Age Concern Morgannwg Limited and its material subsidiaries. The results of subsidiaries are consolidated on a line-by-line basis.. The charitable company has laken advanlage of the exemption contained within 408 of the Companies Act 2006 not to present its own Statement of Financial Activities. The income and expenditure account for the year deatt with in the accounts of the charitable company was £623 surplus (2024.. £116,227 defi¢it). 1.2 Golng ¢oncem The Trustees recognise the challenges ot generating sufficient unrestricted income to build a sustainable reserve position however plans are in place to address this. Therefore at the time of approving the financial statements, the Trustees have a reasonable expectation that the Chartty has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounts'ng in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the Trustees in furlherance of their charitable objectives. Designated funds comprise funds which have been set aside at the discretion of the Trustees for specific Purposes. The purposes and uses of the designated funds are set out in the notes to the financial ststements. Restricted funds are subject to specrfic conditions by donors or grantots as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 1A Income rants.. Grants are included in the statement of financial activities on a receivable basis. The balance of income received for specifi¢ purposes but not expended during the period is shown in the relevant funds on the b8lan¢e sheet. Where income is received in advance of meeting any performance-related Gonditions there 1$ nol unconditional entitlement to the income and its recognition is deferred and included in creditors as deferred income unlil the Performan￿related conditions are met. Where entitlem8nt occurs before income is received, the income is accrued. -40- AGE CONCERN MORGANNWG LIMITED A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting polleies (Continued) Donations.. Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation. unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under GiftAid or deeds of covenant is recognised at the time of the donation. For legacies. entitlement is taken as the earlier of the date on which either.. a) The Charitable Company is aware that probate has been granted- b) The estate has been finalised and notffication has been made by the executor(s) that distribution will be made. or when a distribution is received from the estate. Receipt of a legacy, whole or in part is only considered probable when the arnount Can be measured reliably and the Charitable Company has been notrfied of the executors. intention to make a distribution. INhere legaGies have been notified to the Charitable Company, or the Charitable Company is aware of the granting ol probate and the criteria for income recognition have not been met, then the legaw is treated as a contingent asset and disdosed if material. Rental Income.. Rental income from operating leases (net of any incentives given to the lessee) is recognised on a straight- line basis over the lease temi. Rental received for space ￿nted out to third parties as needed is recognised On￿ payment has been received and event has taken place Investment Income: Inveslment income is recognised when receivable and the amount can be measured reliably by the Charitable Company,. this is nomially upon notification of the interest paid or payable by Ihe bank. The charitable company delivers its services through a range of servi￿ Level Agreements where performance monitoring information is provided to the funders on a quarterly basis. The services provided are often subject to change during the year that reflects the fluclualions in demand or the introduction of new strategies. As a resuli, the charitable company are expected to adapt by varying overhead allocations to reflect the cost of delivering. administering. moniioring and managing the service. There is an expectation that funders servi￿ Level Agreements will roll on year on year provided that the objective5 of the contract are being satisfied. Income derived from the Cynon Linc restsurant is recognised at the point of sale via the till system. in Incom Is The service is paid for upfront and reco9nised once the obligation of the service has been satisfied. All other income is recognis8d apon the completion of the set performance obligation. from s bsidia Income received in the trading subsidiary relates to interest receivable for the year. -41- AGE CONCERN MORGANNWG LIMITED A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continued) 1.5 Expenditure Expendilure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty. it Is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of dir￿1 costs and shared costs. including support costs involved in undertaking each activity. Direct costs attributabfe lo a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned belween those activities on a basis consistent wilh the use of reSoUr￿s. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 Tangible flxed assets Tangible fixed assets are initially measured at cost and subsequently ffleasured at cost OT valuation, net of depre¢i8tion and any impairment losses. Depreciation is re¢ognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Leasehold land and buildings Fixtures and fittings Computers Motor vehicles Straight Line over lease ten 20 /0 Reducing Balance 33.330/0 Straight Line 250A Straight Line The gain or loss arising on the disposal of an asset is determined as the difference be￿een the sale proceeds and the carrying value of the asset, and is recognised in the slatement of financial activities. 1.7 Fixed asset investments Fixed asset investments are initially measured at transaction pri￿ excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomel(expendilure) for the year. Transaction costs are expensed as incurred. A subsidiary is an entity controlled by the Charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefrts from its activities. 1.8 Impairment of fixed assets At each reporting end date, Ihe Charity reviews the carrying amounts of its tangible assets to detemine whether there is any indication that those assets have suffered an impairment loss. If any such Ind￿atiOn exists, the recoverable amount of the asset is estimated in order to determine the extenl of the impairment loss (rf any). 1.9 Stocks Stocks are stated at the lower of Gosl and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks lo their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of repla￿ment cost and cost. Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution. -42- AGE CONCERN MORGANNWG LIMITED A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continued 1.10 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafls are shown within borrowings in current liabilities. 1.11 Financial instruments The Charity has elected to apply the provisions of Section 11 'Basic Financial Instruments. and Section 12 'Other Financial Instruments Issues. of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Charity'$ balance sheet when the Charity becomes party to the contractual provisions of the instrument. Financial a55ets and liabiliiies are offset, with the net amounts presented in the financial statements. when there is a legally enforceable right to set off the recognised amounts and there is an intention to settl8 on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assels, which include debtors and cash and bank balances, are initialty measured at transaction price including transaction costs and are subsequentty carried at amortised cost using the effective interest melhod unless the arrangement constitutes a financing transadion, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Bas1¢ flnanclal liabilities Basic financial liabilities. including creditors and bank loans are inilially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rale of interest. Financial liabilities dassrfied as payable within one year are not amortised. Debt instruments are subsequentty carried at amortised cost, using the effective interest rate method. Trade creditors are obligations lo pay for goods or setvices that have been acquired in the Ordin￿ course of operations from suppliers. Amounls payable are dassified as current liabilities rf payment is due wilhin one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the Charity's contractual obligations expire or are discharged or can￿lled. 1.12 Employee benefits The costs of short-temi employee benefits are recognised as a liability and an expense. unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cosl of any unused holiday entitlement is recognised in the period in which the employee's seNices are re￿ived, Tennination beneffts are recognised immediatety as an expense when the Charity is demonstrably committed to terminate th8 employment of an ernployee or to provide termination benefits. 1.13 Retlr8ment benefits Payments to defined contribution retirement benefft schemes are Charged as an expense as they fall due. -43- AGE CONCERN MORGANNWG LIMITED A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Critical accounting estimates and judgements In the application of the Charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readity apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors thal are considered to be Televant. Actual results may differ from these estimate5. The estimates and underlying assumptions are r8viewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision aflects only that period, or in the period of the revision and future periods where the revision affects both Gurrent and future periods. Income from donations and legacles Unrestricted Unrestricted funds funds 2025 2024 Donations and gifts 6,262 The charity GU￿entlY leases the building known as Cynon Linc from Rhondda Cynon Taf County Borough Council for a peppercorn rent. As the building is specialist in nature a market value rent cannot be readily obtained and therefore donated facilities income together with a notional rental expense have been not been recognised in the finanaal statements. AGE CONCERN MORGANNWG LIMITED A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Charitable activities Grants 2025 Grants 2024 Grants Service level agreements Nail cutting Other 753,420 440.167 86,756 10.672 335,460 443,417 66,206 9,530 1,291,015 854,613 Analysis by fund Unrestricted funds Restricted funds 160,779 1,130,236 140,646 713,967 1.291.015 854,613 Grants Age Conneds Wales Cwm Taf Morgannwg Independent Age Charity National Lottery Pen-y-cymoedd Police & Crime Commissioner for South Wales Regional Integrated Fund Rhondda Cynon Taf CBC Wales Community Voluntsry Association Welsh Government Other 4,000 26.985 2,675 36,060 13,333 36,000 43,979 5,500 65,203 578,640 16,817 18,568 31,417 43,688 10,449 55,308 6,467 753,420 335,460 Incomo from other trading activitie$ Unrestrlcted Unrestrictsd funds fund$ 2025 2024 Fundraising income Other income Restaurant income Rental income 14.987 11,021 154,186 81,749 10,333 18,222 124,903 78,589 Other trading activities 261.943 232,047 AGE CONCERN MORGANNWG LIMITED A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income from investments Unre$trictod Unrestricted funds funds 2025 2024 Interest re￿1vable 2.613 2,353 Expenditure on raising funds Unrestricted Unrestricted funds funds - as reststed 2024 2025 Trading costs Restaurant costs 59,351 61,542 The above restaurant costs were previously classified as a support cost. This reclassification has been made to better reflect the nature of the expenditure. This change in classification has no impact on the overall financial position and has been made to enhance clarity within Ihe financial statements. AGE CONCERN MORGANNWG LIMITED A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Expenditure on charitable a¢tivitie$ As restated 2024 2025 Direct costs Staff costs Depreciation and impairment Office costs Motor & travel expenses Printing, postage & stslionery Irre¢overable VAT Bad debts written off Advertising & promotions Bank charges Personal protective equipment Eslablishment ¢osts Consultancy costs Repairs, maintenance & IT Project costs Legal, professional & training costs 809,176 455.094 20,287 21,947 11,882 5,385 31,572 1,825 13.977 2,847 2,355 35,068 55,725 23,470 23,404 12,253 6,906 2,471 8,439 2,712 23,375 11,977 16,242 1,307 12,416 33,696 39,506 997,457 687,877 Share of support and govemance costs (see nots 9 Support Governance 478,342 28,000 444,818 15,000 1,501,799 1,147,695 Analysis by fund Unrestricted funds Restricted ￿ndS 368,105 1,133,694 409,280 738,415 1,501,799 1,147,695 Various of the cosls above have been reanalysed during the year and had previously been classified as support costs. These reclassifications have been made to better ￿fleet the nature of the expenditure. These changes in classification have no impact on the overall financial position and has been made to enhance clarity within the financial Statements. -47- AGE CONCERN MORGANNWG LIMITED A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Support costs allocated to aetivitles 2025 2024 As reststed Staff costs Depreciation Establishment costs Repaiis, maintenance & IT offi￿ expenses Printing, postage & stationery Motor & travel expenses Legal, professional and training costs Consultancy costs Governan￿ costs 304.572 34,893 85.414 24.615 1,635 6,047 89 13,224 7.853 26.000 330,116 27.980 35.089 12,417 21,948 5,386 11,882 15,000 504.342 459,818 Anatysed between: Charitable activities 504,342 459,818 10 Net movement in funds 2025 2024 As restatsd The net movement in funds is stated after chargingl(crediting)'. Fees payable for the audit of the charity's financial statements Depreciation of owned tangible fixed assets 26.000 34,893 15.000 48,267 11 Trustees None of the Trustees {or any persons connected with them) received any remuneration or benefits from the Chatity during the year or the prior year. 12 Employees The average monthly number of employees during the year was.. 2025 Number 2024 Number Charitable Support Govemance 48 42 Total 47 AGE CONCERN MORGANNWG LIMITED A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 12 Employees (Continued) Employment costs 2025 2024 Wages and salaries Social security costs Other pension costs 1.015,388 68,592 29,768 721,153 40.114 23.943 1,113,748 785,210 Included in the above amounts are redundancy costs of £Nil {2024- £14,920). Key management personnel The total remuneration paid to key management personnel during the year (including gross salary. employers national insurance contributions and employers pension contributions) was £201,065 {2024.' £208.549). There were no employees whose annual remuneration was more than £60,000. 13 Taxation The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gain5 Act 1992 to the extent that these are applied to its charitable objects. 14 Tangible fixed assets Leasehold Flxlur9s and land and fftllngs bulldings Motor vghlcl8s Total Cost At 1 Aptil 2024- as restated Additions 1.946.883 200,181 8,415 36,567 2.183.631 8.415 At 31 March 2025 1,946,883 208,596 36.567 2.192,046 Depreciation and impairn)ent At 1 April 2024 - as restated Depreciation charged in th8 year 60,210 20.287 147,920 14,606 36,567 244,697 34.893 At 31 March 2025 80.497 162,526 36.567 279.590 Carrying amount At 31 March 2025 1.866,386 46,070 1.912.456 At 31 March 2024- a5 restated 1,886,672 52,261 1,938,933 -49- AGE CONCERN MORGANNWG LIMITED A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 15 Fixed asset investments Unlisted investments Cost or valuatlon At 1 April 2024 & 31 Marth 2025 Carying amount At 31 March 2025 At 31 March 2024 2025 2024 Other investments comprFSe.' Notes Investmenls in subsidiarie5 16 Subsidiaries Details of the Charity's subsidiaries at 31 March 2025 are as follows- Name of undertaking Registered office Nature of business Class of /• Held shares held Direct Indlrect Age Concem Morgannwg Cynon Linc, Trading Limited Seymour Street, Aberdare, Wales. CF44 7BD Inactive Ordinary 100.00 The aggregate capital and reserves and the result for the year of subsidiaries included in the consolidation was as follows- Name of undertaking ProfiVILoss} Capitsl and Reserves Age Concern Morgannwg Trading Limited 80 2.615 Subsequent to the year end, the trustees made the decision to dissolve the trading subsidiary, Age Concetn Morgannwg Trading Limited. The subsidiary had ceased trading prior to the year end, and following a review of its ongoing purpose and financial position, it was concluded that it was no longer necessary lo retain the entity. No adjustments have been made to these consolidated financial statements as a result of this decision. 17 Stocks 2025 2024 Finished goods and goods for resale 7,176 AGE CONCERN MORGANNWG LIMITED A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 18 Debtors 2025 Group 2026 Charity 2024 Group 2024 Charity Amounts falling due within one year: Trade debtors Amounts due frotn subsidiary undertakings Prepayments and accrued income 340.082 340,082 73,043 73,043 9.168 32.279 22,214 22,214 32,279 362,296 362,296 105.322 114,490 19 Creditors: amounts falllng due wlthln one year 2025 Group 2025 Charity 2024 Group 2024 Charity Notès Other tsxation and social security Deferred income Trade ¢redilors Amounts due to subsidiary undertakings Oth8r creditors Accruals 14.594 15,347 21,489 14,594 15,347 21,489 2,615 6,966 34,521 6,542 22,604 18,378 6,542 22,604 18,378 6,966 34,521 13,122 30,575 13,122 30,575 92,917 95.532 91,221 91,221 20 Government grants Deferred income is included in the financial statements as follows- 2025 2024 Deferred income is induded within: Current liabilities 15,347 22,604 Movements in the year.. Deferred in¢ome at 1 April 2024 Released from previous periods Resources deferred in the year 22,604 (22,604) 15,347 34,308 {34,308) 22,604 Deferred income at 31 March 2025 15,347 22,604 Deferred income relates to grant income rèceived in advance which has been appropriately deferred under the terms and conditions of th8 funding (2024.. grant income received prior to 31 March 2024 relating to the 2024125 financial year). 51 AGE CONCERN MORGANNWG LIMITED A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 21 R¢StIkt￿ funds The rastri￿ed funds oflhe chatty comw8e Iht une¥pEnded bal￿¢88 of donallons and graftts hBld Irusl subject to $pecifK condthons by donors asto hrywthey w be used. Movemènt ￿ndS In¢¢rnlny rvsourH Movemgnt In fvnds . BthnG•Jt 1 Apri12023 Tr4thbfer> It 31 MarGh IAprflZQ24 41wrc•• 5 TrStat• Rhondda Cynon T•lCBC- CorM￿ndY & Day Lthit Resource C¢nlre Rhondd4 Cyrrtjn Taf c8C- Food Support Cw)) Ttsf Morgann*s HB- Betler Hom? Cwm Tal Moryannwg H8- FlJ8pd8l Di$ch•g* S￿l¢e ¢wm TafMorg8Mwg HB. Vacdnatkn Transportallon Voluntary ActK)Tr MerthyT TYrf￿- ICF- Wunleer Servke vrtJTr1wAcl(on MerthyrTydfil- COVID Recovery Gra)t- VobJnieÈr Setvice VoluntaryActb)n M8rthyrTydThl- Dernpnlia InformatK)n andAdwce Comrwnity Foundatkn 1th1è5- Reserch Pro Communty Foundatthtin Wabs- Re5wnd & Recover ICF Capttql- Cynon Line Nation81 Lottery- CYTM Llnc Dunhill M8dkal TNSt- Cyncfi Linc VVfA- Cynon Llnc 14.136 14,1 14.136 277 277 277 50,487 202, 1170.8&31 116,0691 6S.623 208.332 1185,3311 88,624 88,200 1104,2681 16,069 90,935 190,9361 19,S39 1.981 11.9811 19.539 18,539 783 17,181 117.1611 783 34.819 135,6021 5.147 5.147 5.147 2.771 25.000 125,OCOI 2.771 185.204 1185.2041 2.7T1 1.7DO 1.7(X) 2.734 1.131.899 542.229 92,780 3S,5Q8 1.159.739 569.382 95,135 39,090 114.1081 117,3861 11,3471 11,3941 1,145,631 551.976 93,788 37.696 113,7321 19,7471 11.Q)81 11,1881 52. AGE CONCERN MORGANNWG LIMITED A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 21 RestrM•d lund• IContInu￿) sh Govemment- Foundatlonal Econcffiy SIMP￿ Toyether WCVA- Mithael Sheen Sto Dennis Fund K¢¢piig in Ttyjch ¢wm Taf Morgsrnwg H8- Hospital to Htyn¢ Sinpty Nalt8 Rayrrf Found8tion Cwm Taf Mtygannwg Mknd- COVID Respone Irrterfnk- VDlunlwr Training Intertlnk- Whter Pressures t15h Government- Wntsr MTBC A¢iNitie$ Coordln8tor Aberystwh Uni¥•rsity PdKe & Crime Comi$$loner RCTWJrters OementLq Outreach pyc 2.599 12,5$91 272 1.567 12721 11.567) 2S8 975 12561 16581 319 38 319 3B 7.732 250 3.3C¢ 1,499 7,n2 250 3,308 1,499 7.732 25D 3.308 1.499 31.215 131,21$1 31,215 (31.2151 5,5 15,5￿) 138,3401 195,15n 140,2651 12,Q(01 15401 128,3121 I18,0￿} 118,OWI 149.6231 124,7381 19,5901 116.2771 70,263 (70,2631 95.1S7 RCT Wnt¥H**shlp RCT¢emnwnttks FaeAlity Support CThI UHB HcéTh Flrsi Tru818dA8se580r Indep8ndentAge RCT18A RCT Shared PtO8perty Fund Unpald C8r815 VA Fe8lFlrst RCT NeI9hbwrh￿d NeTh￿rk Grant 540 28,312 18,000 18,000 49,623 24.na 9,590 16,277 312,527 1312,527) 55,307 155,3071 48.090 146,D901 960 19601 AGE CONCERN MORGANNWG LIMITED A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FQR THE YEAR ENDED 31 MARCH 2025 21 R88trict•d IContlnu8dl Pen-y-cymoedd Vision FuThJ CTMUHB Penston Credit 67.599 26,985 167,5991 128,9851 1,979,396 713,%7 1738.4151 1,954,948 1.130.236 11.133.694) 1.951,490 AGE CONCERN MORGANNWG LIMITED A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 21 R•strl¢t¢d fund* 1¢ontlnuÈdl Rhondda Cynon Taff CBC- Cemmunrty & Day Re¥ource Cenlre." Funding to Prov￿1& 5UPPDrt to IKal authorty day care ¥etting and sadal r£re team5 to ansure older people benefrt from IhBrapeutic. rneaningful activities vthilst visrfing ttay opwtunMle$ and to contnU8 providing 5UPPOrt lo thD5e benefKiaries In Ihe ¢orrmunrty where Rhondda Cynon Taff CBC- FoDd SuppDrt.. Funding forw*ome home Ic¢)d ￿￿(*8 for%bbgn P*￿￿6 we Irom hosprtal. The poGk$ ¥*fre* ot Ihe P￿nt of delivery and inthde lood yovi$ians to 8UPPOrt the older person Ihrou9h Ihe initwltimt rfbeing1)om8. CwTn Taf Morgannwg HB- B¢tt8r Home SeNKe.' Funding to wpptsrt the safe discharg8 horr* from Pmce Charfe$ Hosprtal and engolng support requyed 10 wium to trthpendenl livlng, as w811 as the wovi$iDn Df ¢wmunity support throughout Merthyr and RCT to prn￿de eaty intervention and $ypport to pèople ￿n8￿￿ered lo be al ll5k of hospital *lmi$$ion, sufferfng from Isolatlon and lordepres5￿￿. and tsn¢nlra and Telated condttlonj. c￿ Tafmorgannwg HB- H05pit81 Distharge SeNio." Funding lo support the safe ¢Jisth¥ge hom? fr¢m Princv$$ of Vwes Hogpttal and ¢ngoing $upptsrt raqulr8d lo return lo Independent Iwwlg a$ well As th& provl8lon of communty supporf Ihrougtxjul Brh4g¢nd to pro¥k1e early int￿￿ent1Vn and $upport to p8opl8 conshlered lo be * ri$k of ho$pital admisslon, 8uffertng fr¢m l$olatlM #nd l¢rdepres$k)n. 8nd d8ments 8nd reLgted cMdthon$. Tal Mugannwg HB- Vaccination Tran$p¢rtatiDn'. Funding to prn¥kle a vacd1￿m trnnSp￿ 8￿Ce, free at the point of delivery, for •)yonè stn4glkng to get to their COWD-19 v¥¢tynalion appointment. Voluth￿A¢t1tsn Merthyr Tydfil- ICF Volunteer se￿ice.. RevenuE lunding lo d&lW bèffiendlng ser¥ice5 to wpport1on¥tv and isolated Indlvkluals *ro$$ RCT 8nd Merthyr Tydfi vla the Reathing Oul Projeet. VolunWALticfi MethyrTydfil- COVID Rece¥ery Gr8nl Voknnleer Se¥vi¢e$'. volunlwyACt￿n MerfhyrTydfil- D8mentL8 Infomi81ion & Ad¥iu'. Fundw vos 5eeured to P￿de 40 sensory boxÈs at Christma$ for older people INiTrg wrth Dementla who ould not have received a gffl. The sensory bDxÈ$ contained sevar81 Mems linked to Ihe 5en$e5 and t)ccupalion and ￿nSiSted of a Christmas Eve box that induded twiddle mufs, Jngle bels. seIeL*￿￿ p8ckts. shortbread biscurts, body sprays. Aduh tdoring books & pencts. Th￿ we¥e distribuied befere Chrl$lrfias by staff and volunteers to se￿￿e users. Corrnyjnrty Foundation Wdle5 - Research Proje¢t'. Fundlng lo complete Tesearth wuiacts inlo Ihe expert*ions of oldèr age and fundlng secured lor s fvlktffne Èdmirristratorfoc*8ed on providing an ekment of core SUPPDrtwrfhin the wganlza￿On strengthening thè organti8ttMs mnrtonng and evalu#thtiN. Corrmjnity Foundation Vi4les- Respond & Retover. FundlNJ 10 pro¥kle 8UPPOrt io communit￿$ in respcrt)ding to and recovedng from Ihe effeGis of the COVID pandemlc. ICF C8pital- ¢ynon W815h GDvernmentlunding to WPPOrt t*ge projects that #rtfibute io Hoamh and Social C4re. -55- AGE CONCERN MORGANNWG LIMITED A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 21 Restrfct•d fund¥ Iconllnuodl The Natknn81 Lottery Cornmunity Fund. Cynon Llnc.. ComrNnityAssel Transler Fb9rammelty wo¥id• revenuo and eAPitalfundlng tè d•liverthe Cynon Lhc ProJe¢t. Dunhill Medlc*lTruth.' Cynon Llnc- Gapital ￿ndIng lo wppon th¢ Cynon Lin& prolecl. Welsh Govemmenl . Foundational Economy Simpfy Together. SIm￿Y Toyether works with the Rhondda GP du51er qnd w8llbalng owrd￿•IOrs. to wpport ldwklualslo aiknd medlcal appolntmenls, engage In 8CtlvnlÈs in the and wovide support wlth 811 a$ped5 of rnsnaglng the home. M•rfhyrTydfilAdtvtt*$ Cfyordination.. Fundkna its promote Indep￿dence and nduslon by prowding ond support to indwKlualswho have d6mentk. VA. Mickn801 sh￿ Stom Dennls Funtl.. Fundngto r8pL8C8 ewikynent destroyèd by St£mi Dennki. KeeWng In T•wh Taf M¢rgannwg HB- Hc8pllal to Home.- Rayn8 F￿ndation.. Fundlng lo replac? equipment destroyed by Storm Danni$. Tal Morgoftnw Mind- COWD Respon$e.' Fundlng fora sin9le polnt ol acce88 hub. in rAJllabor8tbJn wllh other Ihird ¥edor partners. providing mental heatth sypporf to people o¢ross RCT. Interlknk- VoknteerTralnlng'. Funding lo provklo ffÈe Iranin9to ¥obJnl88fBthroughout RCTon tdephone befriendlng snd demniia awHr8n855. Interflnk- Wnlw Pressur88'. Funding to $upport the d8valoprr*tht rfCoffe8 Moming¥ and Crsftjacti￿tY sesslon$ for p?ople wlth darn￿110 thelr car8ers. J5h GovemNY¢nl. Wnter Pressures.. Funding to supwt wents 8nd 8clfvtt188 that fotyJs¥d on reduclng the Impo¢t on cost trf I￿ing. improvlng 8cceBS lo hoahh and w•llbekng Init*tives Increa8lng ¢apa¢lty of hospit•lto home 88rvkes. Aberyswh UnNer*yy.' To undertake 4 respar&l proled htty how older peopk ex￿rIence putA¢ Ir8nsporL i¢e S Crène CoffrnlS5ionor. Fundlng toward5 training costsfortyb¢r *wareness atcredit4tv)n. RCTKlxkers Demèntia Outreach.. To provlde outreach supwt to peo* Imng vthh detY*nb'a in ther0￿ homes. Pen Y C￿n0edd Wnd Fann Communtty Fund.. Fundng for 3 post8 to support Ihe Cynon Lnc Grovm ￿¢¢t Phaso 2- the p051s were Hospttamy M••yBr. Receptknit8V Events c£￿￿dInator and Lrtde Llncts Pkiy CoDrdin81or. Lottejy. CrmnuntyA$$ot Tr8nBler Programme10 pThidB reven￿ and t&Pit¥l funthng lo d8lN¢rthe cyl￿n Llnc Proled. AGE CONCERN MORGANNWG LIMITED A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS {cofrifiNUED} FOR THE YEAR EIIDED 31 MARCH 2025 21 Re51rtcted funfl Icontlnuodl RCT Wthter Hwdship.. Funding 19 SUPPOrt events and activit￿$th811r￿5ed on reducing th• impact on the toslof I'vin9. improvlng access lo heamh Bnd weJlberi9 iiiti4N•s arml lnrAEB￿nY rwacity uf hospit81to home ser¥ice$. RCT con¥nun￿es FacilNy Support.. Fundlng from RCTCBC to support rI￿nue ¢asts for assets that have been tr•n$l¢rred to the communty under the CcrnuntyA55et Transfer pro9rarrfj￿. Cv•TnT•ff Morg*)vffj UHB Slmply Nalls. Feet Fir61- Fundng to provide an afftydabk nail euttkng seNk8 forlhe community CYrnTaff Morgwbvry UHB Trusted As$8¥sor Horn8 Flrst - Fundlng Io Supp￿ older wple hom8 hospit81 in iher own home5 +lsh Govemmenl- Wnler Pr688uro8'. Fundlng to 5uppori event5 and adNilfa$ that focused en tEdudrrfJ the *np•ei on thè cost of Ilvlng, Ir¢v￿n￿ acc￿ to heaNh and wellbBing initi'*ves and increasing oap4¢ty ofhospttal lo homè se￿[Ca8. dependenlAge. Communtty Proj¢¢t.. Fundlng for Informallon andAd¥Ke at outreach centres withi) lh& chaity catchment ar88. RCT18A- Funding to prov￿# $p9¢4alist advlc8 on c4se￿r￿ to peo* #g¢d 50+ IsÉu88 such 88 w8K8r• benefrts. c8re homes th￿Ing procedyres, hr4Jslng and ténancy, and managing financi81 affairs. RCT Sh¥ed Proswity Fund - Funding for equlpmÈnt in Cynon aswell 88 a contribution tthv*d$ s*rftsfora Hospttalty Manager and Reteptiw ￿atr. Lknpa￿J Cwers- Funding lo support dlenls their rxers. Feet First.. Funding lo provid2 an affordabk nail cuttlng seyvlce forthe corrmunlly. RCT Nepjhbourhood Nettvork Grènt". Funding to 8UPPOrt actiwtie5 in the COM￿￿nIY Pen-y-CyrYK)edd Vi51Dn Fund". Funding for 3 wsts te support the Cynon Lè)G (¥o*th Pmiect Ph88e 2. CTMUHB Pen$w)n Credtt." Fundlng lo supporf Cost5 oydelwerfng PeThSK)n G[￿lit1w￿9r Fu•1 ¢amp8iW. AGE CONCERN MORGANNWG LIMITED A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 22 Unrestri¢ted tunds The unrestricled funds of the ¢harity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be us8d. These include designated funds which have been set aside out of unrestricted funds by ihe trustees for specific purposes. At 1 April 2024 Incomlng resources Resources At 31 March expended 2025 Age Connects Wales Development of Trading Opportunities Business Continuity - Disaster Recovery Digital Transformation General funds - as restated 2,000 20,091 20,000 28.479 363.795 2,000 20,091 20,000 22,979 373,376 (5,500) (421,956) 431,537 434,365 431,537 {427,456} 438,446 Previous year: At 1 Aprll 2023 Incoming Resour¢e6 At 31 March resources expended 2024 Age Connects Wales Development of Trading Opportunities Business Continiuily- Disaster Recovery Digital Transformatiors General funds- as restated 2,000 20,091 20,000 29,559 454,880 2,000 20,091 20,¢)00 28,479 366,348 (1,080) (469,742) 381,410 526,330 381,410 {470,822) 436,918 ACW- ForAge Concern Morgannwg share of funding costs of ACW Developlng of Trading Opportunltles - To Facilitate new trading opportunities for the charity Dlsaster Recovory - To fund any unforeseen, emergency costs relating to th8 information techndogy infrastructure, p￿MIseS costs or loss of business as a result of fire, flood or maliGiOUS content Digitsl Transformation - To support the charity's plans to improve access to and use of digital solutions for stsff. volunteers and customers. The aim of digitalization is to align with and deliver on the strategic objeclives of the organization and achieve efficiency and boost resources. -58- AGE CONCERN MORGANNWG LIMITED A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 23 Analysis of net assets between funds Unrestricted Restricted funds funds 2025 2025 Total Unrestricted Restricted funds funds 2024 2024 Total 2025 2024 Fund balances al 31 March 2025 are represented by: Tangible assets Cutrent assetsl(liabilities) 108.721 332.338 1,803.735 147,755 1,912.456 480,093 109.523 327.395 1,829,410 125,538 1,938.933 452.933 441.059 1.951.490 2.392.549 436,918 1,954,948 2.391.866 24 Related party transactlons During the year, the Charrtsble Company purchased goods from a Company in which one of the trustees has a 200A ownership inte￿$1. The transadions were undertaken in the normal ¢ourse of business and at an arms lengih basis. Total purchases from this company during the year amounted to £200 (2024: £200). At the balance sh6et date the amount outstanding was £Nil. The Charitable Company is an active member of the Age Connects Partnership in Wales. The Partnership is made up of independent and autonomous Age Con￿rn organisations, which share common aims and values working together to add value to the work and role of Age Concem in Wales. During the year, the Company received cash of £11,782 {£NiD from its wholly owed subsidiary Age Concem Morgannwg Trading Limited. 25 Op8rnting lease commitments At the reporting end date the Charity had outstanding commitments for future minimum lease payments under noFFcancellable operating leases, which fall due as follows.. 2025 2024 Within one year Belween two and five years In over five years 7.355 28.997 5.066 6.572 10,762 41,418 17,334 Lessor The operating leases represents leases to third parties. The leases are negotiated over temis of 10 years and rentals are fixed over 3 years. All leases are subject to a rent review every 3 years and only the lessor can trigger a rent review. -59- AGE CONCERN MORGANNWG LIMITED A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 26 Members liablllty The charity is 8 private company limited by guarantee, and consequently does not have share capital. Each of the members ia liable to contribute an amount not ex￿edIng £1 towards the assets of the charitable company in the event of liquidation. 27 Cash absorbed by operations 2025 2024 Surplusl(deficit) for the year (113,860) Adjuslments for: Investment income iecognised in statement of financial activities Depreciation and impairment of tangible fixed assets 12.613) 34,893 (2.353) 48,267 Movoments In worf(ing capital: {Increase) in stocks (In¢￿ase) in debtors Increasel(decrease) in creditors (Decrease) in deferred income (7,176) {256,974} 8,952 (7.257) (26,372) (21,604) (11,704) Cash absorbed by operations {229.492) (127,626) 28 Analysis of changes in net funds The Charity had no material debl during the year. -60- AGE CONCERN MORGANNWG LIMITED A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 29 Prfor perfod adjustment Changes to the balanGe sheet At 31 March 2024 As previously Adjustment rèported As restated Fixed assets Tangible assets 1,895,140 43,793 1,938,933 Income funds Restricted funds Unrestricted funds 2,129,388 218,685 (174,440> 218,233 1,954,948 436,918 Total funds 2,348.073 43,793 2,391,866 At 31 March 2023 A8 prevlou$ty Adjustmont rèport•d As reststed Fixed assets Tangible assets 1.945.009 41,351 1,986.360 Income funds Restricted funds Unrestricted funds 2,134,989 329,386 1155,593) 196,944 1,979,396 526,330 Total funds 2,464,375 41,351 2,505,726 -61 AGE CONCERN MORGANNWG LIMITED A COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 29 Prlor period adjustment (Continued} Changes to tho profit and loss account Perlod ended 31 March 2024 A$ previously Adju$trnent As restated reported Expenditure on.. Raising funds Charitable activities 61,542 (63,984) 61,542 1,147,695 1,211,679 Net movement in funds (116,302) 2,442 (113,860> 1 It was identifed that irrecoverable VAT on fixed asset additions prior to ylè 31 March 2023 had been erroneously expensed.. the impact of this on the purchase cost of the assets and the subsequent depreciation charged has been adjusted for in the opening position as at 1 April 2023. 2 It was identifed that while capital grants received prior to yle 31 March 2023 had been ulilised approprialeFy to purchase fixed assets, the allocation of assets between the funds had not been appropriately reflected in the statutory accounts. 3 It was idenlified that costs of raising funds had been incorreclly induded within charitable expenditure in the prior year. 4 Further to Note 1 above, £2,442 is the additional depre¢iation charge that should have been recognised in yle 31 Marth 2024 following the adjustments to the purchase cost of the related assets. -62- age connects morgannwg. www.ageconnectsmorgannwg.org.uk Registered Charity No.. 129973 | Company No. 6717361