Charity registration number 1136010 (Ellglalld and Wales) UHY Company registration number 07188459 EMMAUS SOUTH WALES ANIYUAL REPORT AND UNAUDITED FINAIYCIAL STATEMEtYTS FOR THE YEAR Ei¥DED 30 JUNE 2024
EMMAUS SOUTH WALES LEGALAND ADMINISTRATIVE INFORMATION Trustees M5 T V Eadc5 Mr E Francis Ms C A Loii"ry Ms C M Price Ms J A Raikes Mr CJ Oii-en Ms L J Jenkins Is H R Brooks Ms LA Sulle) (Apwinted 19 March 2024} (Appoinled 29 April 2024) (Apwinted 24 June 2024) (Aprx)inled 4 April 2024) Charity number (England and Wales) 11)6010 Company number 07188459 Registered office Nant l.ais Nant Lais Bridgend Cl.Jl 4SD Independent examiner UI IY I lacker Young Bradburn. House Mission Court Nei%'Frt)rt Gii"enl Ilnitcd Kingdom NP20 2DW
EMMAUS SOUTH WALES CONTENTS Page Trustess, report Independent e.xaminer's rerKTrrt io Statcmcnt of tinancial actii'itics li Balance sheet 12 Statement ofcash floi%'s Notcs to thc financial statcmcnts 14-24
EMMAUS SOUTH WALES TRUSTESS, REPORT {INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 30 JUNE 2024 Thc trustccs prcscnt thcir annual rctKbrt and Iinancial 5tatcmcnts for thc N"car cndcd 30 Junc 2024. Thc financial 5tatcmcnts hal'c bccn prcparcd in accordancc i1.ith thc accounting px)licics sct out in notc I to thc financial sLqtements and compl!. i%'ith the charits s goi'erning documeni. the Companies Act 2006 and "Accounting and Reporting by Charitics= Statcmcnl ot Rccommcndcd Practicc applicablc to charitics prcparing thcir accounts in accurdancc ..ith thc Financial Reporting Standard applicable in the UK and Republic of [land (FRS 102)" (effectii.'e l JanuaTh 2019). Objectives alld activities Emmaus is an intcrnational movcmcnt. indcpcndcnt of rcligious or political atTiliation. it originatcd in Francc in 1949, based on the idea of SolidariiTr': "serve first Ihose ilho suffer most., as set out in the Llnii'ersal Manifesto of the F.mmaus Movcmcnt. (Availablc for dowTrload at http=//iiiiiY.cmmaus-curopc.org). Our Core Value5 These are ihe values by ii-hich we strii'e to lii'e in F.mmaus. Thev set the standard for our 'aN, of life iogether. Shoii'ing respeci.. Being tolerant of other people's M-ay of life and their beliefs. recognising that other people ma}, have a ditTerent poinl of i'iew. Being iN'illing to listen to ii'hat others hai'e to sal-. lai ing compassion for oihers and respeLi for their circuMsnCeS. especialli. iowards ihose h0 have suffered or are in distress. Respecting ihe skills ofoihers and i"aluing iheir M"ork. Being open and honesi.. In the iya). w.e lii'e our life "Ithin ihe moi"emeni. About h014. 14'e report our tinances and our actii'ities. In thL iyai. wc takc dLLi5iOn5. By communicating properl!. so ei'ery'one knOl'S ivhat is happening and understands the decisions that are made. Sharing= Sharing and exchanging our resources and skills. being ilI1]ng to receii-e as well as to give. Lcarning trutn cach othcr. Fighiing togeiher against injustice. accepting the risks thai ma! be inTrolTred. Taking and sharing rc5ponsibiliti'= F.nLouraging people to participate actii'el>' at all lei'els of Ihe moi'emenl. Ensuring that eN"er)'bodi s N"oice is heard. Lnsuring that decisions are taken and implemenfrd democrdlicall).. Objectives and aims The objectives: as set out in Emmaus South Wales Articles of Association. are speciticallv restricted to the alleiwiation and relief of powerty. hardship and dislress arising iherefrom. in conforniance li iih ihe principles of the Lmmaus Movemeni as published from time to time b!. Emmaus IJK. to those in need ii'ithout distinction bN'= Ihe provision ol- accommodation. or assisthnce in suLh proN"ision. for homeless people in ihe South Wales area and such other places as ma!- seem appmpriaie trom lime to time Ithe beneticiariesl. thc rchabilitalion ot- thc bcnLfiLiarics as appropriatc and thc proi.ision of L"ducation. training {including. ii.'ithout limitation. emplo)'ment training) and il'ork opwrtuniiies and satisfaction for the beneficiaries ii'ith the purpose of dcwcloping thcir 5ki11s to cnablc thcm to gain cmploN"mcnt in thc futurc and thcrcby" dciwclop a scnsc of sclf- worth and dignits. through having a self-supponing life. thc suptx)rt ut- thc work of othcr Emmaus Communitics and Emmaus Group5 or othcr agcncics in thc rclicf of px)vert! and homelessness il'heiher in the Uniied kingdom or elseii,here in the iN'orld and in particular (without limitation) by thc cxchangc of rcsourccs. information and cxpcrtisc ii.ith othcr Emmaus Moi'cmcnt projcct5 worldii'ide. In fulfilling of such othcr purp)scs as rnas- from timc to timc bc rccogniscd b)- English Lai4' as bcing charitablc and ivhich ihe Charit). shall from time io time deiemline. 'I'he 'l'ruslees can sav: Nvith confidence, that these lour objeciii es of the charil!. are Siill enlirel!. relevant. We conlinuall strive to achieve them, to the best ot our abilits..
EMMAUS SOUTH WALES TRUSTESS, REPORT {INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Homele5sne5S Homelessness in Wales. as elseil'here in the UK: continues to rise, ii'ith manTr lii'ing in temtK)rarv accommodation. We hawc bccn cxpcricncing a housing crisis for a numbcr ot car5 and thcrc continucs to bc a chronic lack of social housing and soaring private secior rents making a home increasingl!. unaffordable and unsustainable for manv people. Manv Landlords hap'c Icft thc markct and thcrc is i"cr%- littlc accommodation particularl!" for singlc pcoplc. Houscholds continuc to facc high costs on basic ncccssitics. Morc ii"orking pcoplc arc bcinq pushcd into powcrti." Ivith M'ages noi keeping pace i%'ith inllalion and housing u)sis coniinuing to be higher than iheN are affordable. I'or Inany ihere is veTr little prospect of oivning their oTh'n home and the fight for feurer ai'ailable rental properties is exacerbating the situation. Sadly, we coniinue lo see demand groi*" lor support from all I lomeless Charilies including the Lmmaus Souih Wales communitv: both in respect ot our role in oftering a pathiia!. out of homelessness. also in respect of our Solidari 'ork and sern'ices lo our I4"ider Lommunilies. "l-his is rellecied in the numbers in our coMmunil ihis )'ear. We are considering hoiv ive support more people in Ihe luture. Approach to achieving charitable objectives Thc Emmaus 'thLor)' of changc, is to proi'idc a supportii"c communit).. purposc and mcaningful actiiwity. in our Social enterprises each iN'eek and opportuniiies to dei'elop and contribute alongside training and support for those ivho are marginalizcd and cxcludcd, including th05c c.xpcricncing homclcs5ncss. B!, Nvorking togcthcr alongsidc staff and i'olunteers in our communitv and enierprises. Companions gain neil" skills and experience and. most importantlv, regain sclf-rcspcct. cstccm and purwsc whilst w.ork-ing to 5UPW)rt othcrs in grcatcr nccd than thcmscli"cs. Emmaus South Walcs can currentl). prolde accommodation tor 24 Companions. Companions are proi'ided 14.ith a package of suwort and accommodation. including tinancial suptKTrrt as Companions do not claim out ot"Ivork bcncfits such as Unlersal Ci'cdit. L'mmaus communilies slriie to be self-financing ivhich is social enierprise is iniegral io our model and way ol 4.orking. this grants us all, including companion5. autonom!. in achieN"ing our aims. It also affords us the opportunitv to demonstrate in practice ihai a dilTereni model of life is tK)ssible. one ihai is based on the sharing rather ihan the accumulation of resources and ii.here eN"eTh'bod!' contributes. and ei"eTh"bodN" gains. The Emmaus illodel Lmmaus proi ides an opportunilfv for companions io break free from ihe cl'cle of insecure. unsustrdinable. unaffordable housing and its attendani impact.s on the qualit). of lite. health and iNell-beino. The impact of tiohting a losino battle against poi.ert!' and exclusion. and of homelessnesk can be soul-desiro!"ino. leai'in? >ou feeling "Or1h1eSs. I'or many people w'ho h1( ve experienced homelessness. losing their self-esieem can be the most damaging part of their experience. BLing on )'uur oiyn: w'ith no suptKIrt around l'ou and finding i.our ila) out of that 5ituatiun is not cas!.. pILlu1.1) Il'hcn the onl>. options ai'ailable are iemporan. files. This is 11"he F.mmaus is different. F.mmaus is not about offering a bed for thc night but otTcring a homc for as long as it is nccdcd: as ii.cll a5 purposc and mcaningful work through our social enierprises. This oprK)rtunits'. to become part of a communiTh' and make a coniribuiion to it. plal's an imtx)rtant role in rcstoring ivcll-bcing and hclping companions to find a H'a!" to oi"crcomc thc barricrs to inclusion in thc long tcrni. Emmaus cnablcs companions to rebuild thcir lii.cs ii-ithin 5clf-suptM)rtin< Communitics. Companions rcccii'c support to re-equip themseli'es Ni'iih ihe skill and LapaLit> needed io secure and susiain independeni homes and io live happ) and health. liN'es. Our Companions are gii'en the OPFK)rtunits" to tak-e slock ot their IiiTe5. understand and address the barriers thev fale, and re-eslablish supportiie neiiiorks of friends and famil). You onl!. hawe lo read ihe slories on Linmaus Communits, 14websites ot some ot. the people Emmaus has supwrted. to see ii.hat a difyerence Emmaus makes. See.. emmaus com.ukJsouih-wales. Applicants join our Communits. as Companions. having been homeless or othml'ise N'ulnerabl!, housed and unemploved. Potcntial Companions can appll. dircctl). to Emmaus South Walcs or bc rcfcrrcd bN. thc local authorit), or a third part!, {probation officer or outreach M'orker for example) iiiih Iheir pennission. Aliernatii'eli,, there is a IIK ii.'ide referral pathM'"ai. for all Emmaus C"ommunitics in thc UK. Ilic continuc to dci.clop partncrships and rcfcrral rclationships ivith other sen'ices from Th'hich il'e are generating referrals and encouraging homeless people to contact us. F.mmaus South Illales is full). committed to dei-eloping an inclusii'e and dii'erse communith.. including companions, staff. Trustees and volunteers: and our recruitmenl and access tKJlicies reflect this.
EMMAUS SOUTH WALES TRUSTESS, REPORT {INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Achievements and performance The Community Our communit!. homc on a two-acrc sitc at Nant Lai5. Bridgcnd proiTidcs a homc for up to 24 companions. Thc charity has created a communiti. N%,here people lii'e and ivork. recoi er self-confidence and support both themseli'es and oihers. The entitlement to Housino Benefit meets the cosls of proi"iding 5UPFK)rted accommodation to most companions. We provide a high standard of aicommodation for companions. in addilion io a comprehensive package of praclical. emotional, and tinancial supwrt. Bridoend Counti. Borou2h Council proi'ide5 Housing Benefit to our Companions iN'ho transfer it io the charit. as renl lo help coi'er ihe costs of accommodaling and supporling them. "l-he Lommunilv is operated economicall). but accommodation and meals are of a hioh standard. In addition, our 4 bedroom. 4 baihr(K)m house. siluaied jusi a ? minule ikalk from our Communilw I lome proi'ides us iviih the opportuniti. to support those lonoer term companions in a ii"a!" more suited to their future liwino and is also prOlding an opportunilN, for us lo manage the moi e-on e.xperience for ihose Companions 51arting emploK'inenl and looking for accommodation. We provide an inclusive and diverse community. Our Companions come from all parts of the United Kingdom 1th ages ranging from 18 to 70. Thcv comc trom dii'cr5c backgrounds. and cxpcricnccs. howcN'cr thcy hai'c all cxpcricnccd homelessness. The effects of poi'em.. exclusion. and homelessness mean that mani.. companions hai'e experienced signitlLant harni and rcpcatcd trauma ii.hich th. mas" not prci"iousl!" hai'c rccciTrcd support Nvith. This can rcsult in additional challenges such as poor mental healih. addiLlion. diificuliN maintaining relalionships, or challenging behai'iour. Others hai'e simpl). lost hope folloiying the 105s of loi.ed ones. a job. their home and their purpose. The Communily team proi'ide support for Companions in dealing li iih ihe impact of their experiences including supporting them to access specialist sen'ices ii'ere beneticial. The team also SUPPK)rt companions to lii'e to2ether successfullTr and to ureate a mutuall! supportive and accepling eni ironmeni. Our focus has been build a safe and stsble Communily M'iih a real "sense of Community." When someone comes to Emmaus, Is-e gil'e them the opFK)rtunits' to leam neil" skills bj iNorking in our tmterprises and through dilTereni projecis. Lach Lompanion has a lIored iraining paLkage ihaL ihei" can aLLess and Lomplele. "l-his jear M.'e have had more iwmpanions accessing external bic)'cle mainlenance and MO training is scheduled to be accessed through cmplo)'abilits' training. Projcct Buttcrt]!" launchcd carlicr this !"car to proiwidc companions with a morc diverse ivork experience ii'iih an optM)rtunits' to create its oivn upcl'cling and restoring i'enture. This is a companion led cxcrcisc cnabling thc companions to add to thcir ski115 5cL thus cnabling thcm to find cmplo)'mcnt ii'hilst hclping thcm 'iih their mental ii'ellbeing. C.reating"a sense of Community" The C.ommunii! and social enterprise orK. together to ensure the transition from applicanl to Companion is as seamless as wssiblc. C.ompanion5 spcnd thc first fcis- dal's 5Cttljnu into thc Communiti. and undcrtakc thcir induction ii.-ith Suptx)rt statT. Onue this has been completed Companions hai'e an Indii'idual Support Plan. designed and rei'ieTh'ed to proipide the support required. Induction includes tornialities Such as the completion of housing benefit forms and CJP registration. The Companion is gii'en a mla hICh e.xplains 1% here ihe! li ill ii'ork. io li hom ihe! M'ill report and i%.here it}. Ivill have iheir enterprise induction. Close monitoring of that process is undertaken b!" the Head of Retail and Communitv staff and kept under w'eekl). review. bv both parties. L'er¥ effort is made to encourage Companions io work and live etTeciii"el! iogether as a communily. Companions are encouraged to have an evening meal once a ii'eek- ii'here all companions participate. At iyeekl!. Communili meetings. Companions and s1T address an)" behal ioural or proLedural issues. Li'ery" Mondai" morning ihere is a SialT and Companion Meetino iN'here an). issues are discussed and escalated iNhere nece5sarn,. This also provides the opp)rtunity to di5CU55 ncw. idcas/projcct5 and improi'cmcnts for Companions. The Importanee of work and the support network for Emmaus Compgnions L'mmaus Companions ha'e commented on the importance of iiork in their life in L"mmaus. "Jfeli rea, lo n70ve on. and I knew my experience ai Emmaus ivould help me lake ihi5 s¢epforward A.'ow I have afvll- lime posilion al a holidaj, park" "Emmau.s ha.g giv'en me ihe chance io 1legrale hack inlo socien. after being ip7sliiulionalsed in the prison sy.glem by gnying me a slrong siipport neni'ork. li ha5 offerediiie a consi51enl rouline ii'iih ii'ork ihai Ilas helped mefipldpurpose.
EMMAUS SOUTH WALES TRUSTESS, REPORT {INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 The Support Network Other Companions hai'e made observations on the supp)rt netiiork: '1 d like lo s(ry ihank )'oii lo Fmmaifs ond ils siippoi-l¢isfoi- gii-ing me ihe opporliinilies I n¢eded io be abl¢ lo do ii.hal I'iye done. If anyone needs help or supporl. conie to En1MlS. gii'e il a go. Thej 11 help sort your life out. They ve cer¢ainly done sofor me. 'lfriihotsi Fmmaus l ivoiildsiill b¢ living in a ivorldsurroiinded by alcohol anddriigs. ii'iih ihe supporl offea / canfocus on movingfori+ard in MJ, life." "The siipporl piehvork ai Emmaiis from ihe staff and ihe commiinity has gii?en me a family, Ihai has helped me develop as aper50ri." Kindness and Community. life encourage empathy Solidarity" 1£ such an important part ot the ii'ork ot Emmaus. As one Companion put it.. 'Fmmaus kas given me ihe opiion io slori a nem- lile. and l M'ould recommend ilfor anyone ii,ho is homeless orfa¢ing homelessness" ,4noih¢r Companion described her perIence olliving an Fmniaiis Comniunity {.- "Fmmaiis Souih tpales saved my life and l M'ill '¢rIOrgei li,11 ihis place hai donefoi" Ine." "Ifeel like J h(ne afamilj, people ii'ho care aboul me. What success looks like... Success for our Companions can be iwieii'ed through different lenses - personal dei'elopment and change that occurs. and thL LmpoivcrmLnt to choosc a diftcrcnt lifc5ti"Ic. It cnablcs thcm to bc opcn to opportunitics fur rctraining. cmplol'mcnt or to pursue interests. The stabilits. helps them 10 reimagine iheir lii'es in a different ii'aN' being emtx)i4'ered to reengage 14.ith intLfc5ts: cducation: cmploi'tncnt and ncii" opportunitics. Bcing part of thc communits" can hclp pcoplc to rcLonncct 'iih relationships that hai'e been estranged and helps them forge neil" friendships. F.mmaus offers a unique opportunity to 'ork with pcoplc in a closc communitr.. to fccl morc confidcnt around pcoplc. to Icarn aknut rclationships. tolcrancc, limiLqtions. leaming to share. useful experiences that can be dUpliated in Ihe communili-' ai large helping people to move on in a positii'c il'a).. The Social Enterprise F.mmaus South Wales financial l'ear to 30 June 2024 Il'as anoiher challenging l'ear for the social enterprise. F.mmaus South Walc5 had J rctail locations bascd in Bridocnd and Porthcaii-l. Charits. Rctail has in qcncral SLTn a dcclinc in rcccnt years. Our store in Porthcaii'l is busv during Ihe summer months being a Seaside Toiirn but struggles during the IlIinter months. Our Trcmains Road Supcrstorc is vcr). tK)pular hoii"cN"cr thc lack of storagc and spacc has hampcrcd thc C.haritics ability. to generate income from House Clearances and dii"ersifi' its offerings to customers. Our Caroline Street Siore in Bridgend is. unfortunatel!. in an area saturated b)" Charit)" Shops. The State of the premises has hampered our ability. to improi'e the experience for our companions and cusiomers. Ai ihe end of ihe financial l'ear a decision was laken b) the Board to close the store once the Lease e.ipired in September 24. The 3 Month Notice ivas sen'ed on September 24 Thc SULCCSS of thc ncTh" (SMT} Scnior Managcmcnt Tcam (dris'cn bN- our appointmcnt of our nciN" CEO in August 2023) has significantlN' iMpro.ed the morale. perfomance and experience of our Staff. Volunteers and Companions. We are dclightcd as a Board that our SNIT hai'c dclii.crcd bci-ond our cNpcctations as a Board in such a short timc. Kc Perfomance Indicators (KPIS). reN'iei¥'ed and updaied ii'iih the Board are used to focus on ensuring ke>. actiiiities and aclions are met. thus drii'ing the delii'en" of Emmaus South [aleS Strategic Aims. The signiticant improvement in Management of the Charit). has enabled ihe ijoard slep baL"k the Goi"emance role il is required io meel.
EMMAUS SOUTH WALES TRUSTESS, REPORT {INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Following a full rcl'icw of our Land Traitt (Lucic) opcration5 it bccamc clcar that gcncrating an incomc would bc extremelv challenging. There iN'as a lot of focus li.as on iiorking ii.iih Bridgend County. Borough Council to tn, to find options in ordcr to rctain hcr prcscncc in Porthcaii"I but i%"ithout significant loss to thc Charitv. Dcspitc all cfforts Lucic 'as sold to St. Fagans. The Naiional Histor¥, Museum in Cardiff for use around Iheir sile. Whilst i4"e are disaptx)inted, ii'c w'crc unablc to continuc '1th thc train in Porthcaii-l hoiici"cr. lic arc dclightcd shc remains in Walcs and Thill continuc to delight passengers il'ho iwisii ihe Si. Fagans site. An Lmmaus social enterprise ireaies ii.ork and iraining opportunilies for c.ompanions. slatT. and volunleers. Ils dual purposes are to generate the funds to med Charitable costs. and to proi.ide purpY)se end meaningful opportunities for Companions to rebuild iheir seif-esteem. In tal. approximaiel)" 24934 hours of companion lime ivas volunleered in ihe enterprise and community." in 2023124. The Emmaus ethos commits us to acts of solidariti. and. in 2023124: lie continued to support Emmaus international s solidaril). projeLts bw donating a dal's takings from our shops in our 'Solidaril!' DaN. Sale,. Our shops donated £18J5 40rth ol. turniture and other items. delii'ered b!" the communits s i-an to supwrt local people in need, identilied thmugh our link5 With IoLal housing as50ciation5. In total. 8 bcds. 16 largc itcIn5 of bcdroom furniturc. I dining tablc and chairs. 9 sotas, and 4 homeii'are packs were proi'ided. We undertake these activities to help tackle poveni and disadvantage in our local communitics. Thc cntcry)risc has a150 rcc!'clcd 28.5 tonnc5 of unii-antcd itcms. rcu5cd 67.8 tonncs of unii-antcd itcms and raggcd I I tonnes of clothes that Th'ere then sent abroad. Demonstrating that Ihe enterprise also plal's an important role in protecting thc cnvironmcnt trom rcducing itcms to Landfill. The Management Team Our Senior Managemeni "leam continue to bring a rval focus and perspecliie io ihe Charily. Our Communily & Support Manager has iyorked hard in another difticult ! ear to ensure our Companions continue to the hai'e the supp(Trrt needed. It continues lo be a ihallenging operating contexl. ii.iih rising iosis. reduced capacil! and significant changes lo cuslomer needs and habits. Nei'ertheless. the team is focused on achieN"in£ m&ximum impact for companions and our wider uommunilies, and uommitied to idenlifl'ing ihe opportunilies li here Lmmaus Souih w.ales can coniribute io making a better ..Or1d. Staff and Volunteers 'I'he pasi } ear continues to be a ditTicult one lor our sthtT and volunieers. Man)." of our IIolunleers slill hai'e nol relumed since the Coi'id Pandemic so our staff coniinue to deal ivith reduced suprM)rt i¥hilst IrK"ing to m&ximise the opportunities to gLncratc incomc in our storc5. For our communits" tcam. thcrc continucd to bc challcngcs in filling i'aLanLiLS in thc home hoii'ei'er the increased connections ii'ith referral Agencies. and a deiern)ination to raise our profile to ensure ive rcaLh thosc iN'hu Th'c knoii.- Emmaus can hclp rcsultcd in an almost full Communits.. Wc arc incrcasingly using our 'Moi.'e-on house to ensure 'e can offer as man! places as wssible. supponing companions in getting back into the 'orkplacc has bccn anothcr challcngc this N'car hoii"ci"cr ii"c haiic supportcd i companions to mO.C on to full timc employmeni and accommodation. Our Lnlerprise and Community staff hae conlinued io work i%"iih passion and detrmlinaiion ihrough another challenging period for the Charity.. Consistenc!, in Staff and Support ha5 resulted in a more proactii"e approach and a drii'e towards our slraiegiL aims. "I'here is real excilemenl a1ul our future li iih a focus on our kel" objeclii'es for ihe future. Our slalT 40rk incredibl!. hard and ii'ith passion and deterniination. We send our heartlelt thanks to each and 'er}, one ot them for their Lonlribulion and Lommilmeni io Lmmaus Souih Wales.
EMMAUS SOUTH WALES TRUSTESS, REPORT {INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Financial review It 15 thL FM)IiLN' of thc charity that unrcstrictcd fund5 1s.hich haiic not bccn dc5ignatcd for a spccific usc should bc maintained at a level equii'alent to betiyeen three and SIN month's expenditure. The Irustees consider that reserves at this ILN'cl ivill cnsurc that: in thc ci.cnt ut a significant drop in funding. thc)" ii"'ill bc ablc to continuc thc charity s currcnt acliN'ities M'hile consideration is given to ii"a)'s in ii.hich additional funds mal" be raised. This lei'el of reserves has been maintaincd throughout thc vcar. Thc total incomc for thc ycar cnding 30 Junc 2024 1I7s £613.645. £75.906 lowcr ihan thc prcviou5 l'ear. Totsl expenditure ot £772.633. M'hich £94.34). some I 10/0 loiver than in the prei'iou5 !"ear. A deficit of £158.988 Il'as thereby reported in the N'ear. I.1th a deficit of £177.427 re[rted in (he prei.ious Near. "I'he deficil in the unreslricied reserves 'aS not due to spending restricted income but throu_£h an oi.er commitment to spending in the tolloil'ing Tr'ear on unrestriuied activities. -l-his has been covered posi N"ear end b!" income generated from ihe opening ofihe neil. slore noled below. Going eoncern Lmmaus South m.ales has had a ditTiculi i l.ears from a irading per5peciii'e. Prei"iouslN". Ihere ii.ere a number of shops on difterent high streets. As a re.sult ot strug?lino high streeis. most Emmaus stores have either been loss making or only making a small contribution to thc fixcd costs of thc organi5ation. This IL"d to an crusion of cash rLscrvcs. which eftectii.'el!, broke the £1 00.000 currenl asset intemal coi'enant that il'as set b). the EK>ard. Analysis of the Charities F.nterprises proved that ihe relail store perforniing best ivas an out of t0rn store at Tremains Road: Bridgcnd and thi5 lcd thc knard to bclics"c that onc largc outlct storc ii'.ould fit Emmaus South W'alcs nccd5 bcst. Some of the high street stores iN'ere closed as l.eases ended and in October 20?4 a neil. premises on the edge of TO,n ivas tound that w.ould Suit ESWS nccds t.or thc t"uturc. Thc Board of trustccs is plcasc to announce that a 5 j-car Icasc M'as signed and the retail enterprise has seen a nei%" lease of life li ith fooifall up again. 'I'he opening of the neiv store. "'I"r% sor C.udd' (Welsh for I lidden Treasures). il'as opened i¥ith financial supp)rt from Emmaus IJK in the tom of a loan as ii'ell as sioniticant Qrants receii.ed after the June 2024 Financial Year End. ESWS nei current assets level is once again aLx)i."e £100.000. -l-he iloard belieiwes ihai the nth4" slore and neiv funding package has put ESII, back into a oood position and li'e are all eicited about the future: our abilit), to continue as a going concern and lo meet our organisaiional ooal ofassisting companions oul ol- homelessness. Grant5 F.mmaus South Wales, is founded on a model of sustainable Social F.nterprise. We strive to be self-financing through our primary purposc trading actii"itics. HoMCS'cr: Ivc arc opcrating in a contcxt of rising cost. This includcs thc costs of thc package of support ive proi'ide for companions and the costs li'e meei on their behalf. such as utiliiies and food. As ivell as our charitablc opctating costs and trading costs such as fucl: cncr£!". cmplol-mcnt costs. and rents. MIC continuc to mcct all of our trading cosis trom irading income and are graieful for ihe granis li'e hai'e continued to secure to suppK)rt our charitablc dclii'cry costs. The support proN'ided 15 detailed on page 24. This 5UPtK)rt has made a real difference in enabling us to continue to support uompanions throughout the )'ear. Our funders hai"e proi.ided funds meei direci Companion cosls, lo sUp[rt salaries in both the communitv and central teams, and to enable us to meet ongoino core liabilities such as utilities. Emmaus South Wales, is graleful for this generosil).. Reserves Emmaus South Wales has demonstrated resilience oi'er some diificult !'Vdrs hoii'"ei'er. the trading eniwironment continues lo be challenging li iih chan?es io fooifall and consumer behai"iour. and il-s importani that lie can conlinue lo adapl our enlerprises to the changing conteNt. The Board still.judges that total net ivorking capitsl of £100.(N)O in unrestricted and reslricled funds, is adequate to enable Emmaus South Walcs to surv.ivc a short tcrni calamits". Thc incrcdiblc SUPPK)rt ii"c haiwc rcccii-cd during thc )'"car mcans that the accounts for the financial l'ear shom, a continuing stable wbsition.
EMMAUS SOUTH WALES TRUSTESS, REPORT {INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 PlanIng the Future The Board are pleased that our CF.0 and Staff ha'e proN'ed more than etTicient and effective in their respective roles but also in drii'ing the Charitv toilards an cxciting futurc H"ith morc supwrt and opwrtunitics for our Companions and a i'isionarn. approach io our future. The Straieg!, agreed lasi l'ear has en the focus of our Senior Management Team {SMT} IN'ith KPIS rcN'icTh'cd and updatcd monthli" and thc Board arc confidcnt in our abilitr to achici c IM)th our mcdium and long term objectii'es. 'l-he Board and SM'I" have focussed attenlion on ho. to manage ihe increasinglN' challenging eni'ironmenl of charil), retail alongside proi'idino more diN"erse opwrtunities tor trdining for Companion5. TNI'"o lease terms ended before/ar(Trund our year end and ihe focus on our medium lem) Lnierprise Siraie&N sail us ke the decision lo close our Bridgend 'lown Centre store. Whilst disappointing ive hai'e recognised the need for chan?e in order to ensure our long term future. Structure* governance and management Governing do¢ument The charity. is controlled 65. its goi-ernin? documenl. a deed of trust. and is constituted as a comFons'. limited b). guarantee, as defined b% the Companies Aci 2006. "I-he charii!" il'as consliluled in 2010 as a companv Limited b guarantee, controlled b). its ooi'erning document. the Memorandum and Articles of Association, as def]ned by the Companies Act 2006. 'I'he objects of the charil). are ihe alleN'iation and reliel- ol px)i"erti'. hardship and distress arising therefrom. in conformance ii'ith the principles ot the Emmaus Moi'ement= the proi-i.sion of accommodation for homeless people in South WalLs. thc rchabilitation of thc bcncficiaric5 and thc proi"i5ion of cducation training. including Lmplol'mcnt training and ivork opportunities ii'iih the purp)se of dei'eloping their skills to enable them to gain anplo)'ment in the futurc and thcrcb} dC'Cl0p a 5cnsc of sclf-worth and dignitt" through hal'ing a sclf-supporting lifc. Struetiire? governance and management 'I'he Board is responsible lor the straiegic direction and polic)" of the charil!.. "I'he Board continued io meet monthl)? utilizing online, hvbrid, and in person methods oi'er the course of the !"ear. Each meeting was preceded, a ii.eek betore: bv a meeting of the Enterprise and Finance Committee. Its members are T,0 '] ruslees. the Chief LxeL'ulii'e. and the I'-inance Manager. li rei'ieii"s ihe of ihe Communil> and the charil>'s financial results. It exercises financial control. considers tuture projections and business prowsals and submits its rep)rt and stdtLmLnt of dccisions ncLdLd to thc Board. Sub-LommittCCs wcrc disbandcd in thc sccond half of thc )"car as a rc5uIt of thc structurc and tcam rctx)1ling proccdurcs in place. Health & Safet!. and People Committee items forn) part of the Boards Agenda. F.mmaus South Wales have rcccivcd support during thc I'car from Emmaus UK in thc form of Markcting and Digital Communications which has proN'ed Imrx)rnL in raising our profile and highlighting our aciiviiies on social media. Our appreciation is recorded for thc signiticant scn.icc proTr"idcd bTr' Emmau5 UK and for thc Training. Pccr Groups and gcncral supwrt shown. A dclcgation framcwork is in placc. iTr"ith thc da!'_tO-da!" rcswynsibiliti" for thc opcrations ot" thc charits, rcsting M'"ith thc Chief Lxeeutie. 'I'he Chief Lxecutiie is responsible for ensuring that (he charii) delii.ers its strategic objectieS, achieves the budget for the ensuing )'ear and meets ke!" pertormance indicators. Risk management -] ruslees hai e in place risk managemeni procedures: lIcIeS and a Risk Regisier Ihich aims lo ideniifv. manage and mitigate foreseeable risks that the charitt, mioht face. The Chief ENecutiN"e has oi'erall responsibilits. for monitoring the risks and ensuring appropriate and iimel! mitigaiion is pul in place. "I'he C'.haril! is commitied ts safeguarding slarr, Companions and i'olunteers and etleciii-e health and satet). risk manaeement in accordance iN"ith ILS Health and Sat"et)' polic).. Risk assessments and specific proLedures are Lompleied. rei"ieii'ed. and mainiained. All neiv aciii'ilies and potenlial risks are risk assessed. All staff and volunteers participate in a health and safety. induclion, .]lh specific training offcrcd whLn dcsirablc or ncccs5ary". Policies A complete portfolio of FM)licies and procedures has been established: ii'.hich are regularlN' revieived.
EMMAUS SOUTH WALES TRUSTESS, REPORT {INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Thc trustccs. who arc a150 thc dircctor5 for thc purwysc of companN' lam.. aTtd who scn'cd during thc vcar and up to thc date of signature of the financial statements iiere: Ms T V F.ades Mr E FrCl5 Mr SN l.loyd Ms C A Loivry. Ms C M Price Ms J A Raikes Mr CJ Owen Ms L J Jenkins Ms H R Brooks Ms LA Sulle). (Resigned 9 Ma. 2024) (Apwinted 19 March 2024) (Appoinied 29 April 2024) (Apwinted 24 June 20241 (AppK)inted 4 April 20241 Recruitment, appointment and training of new trustees Thc ch]1). is dircctcd bl. a B0d of Tru5tccs ii.ho arc clcctcd and co-optcd undcr thc tcrms of thc Articlc5 of Association. The Board of Trustees continues to rei'ieii. the skills and eiperience of its members. During the ear three additional Trustccs ii'"crc rccruitcd w.ith onc Trustcc stcpping doii'n. Thi5 continucs to strcngthcn thc Board'5 CXPCrtisc and skills base. The Board recognise ihat a proper recruiimeni: induction and iraining programme is imKx)rtant to ensure the ongoing strcngth ot thc Board. Each rK)tential Trustee is inteTh'ieived b). at ledst tti'o Trustees. brieted atK)ut the Communits,. the Historv of Emmaus, their legal and ethical responsibililies and proi.ided il'ith ihe NCVO Code of Good Goi ernance. OnLe Board approi'al is Lonfimed. induction and iraining takes the fomi of attendance al Board Medings and its Committees. a N'isit to Nant Lais. our Communits" home. escorted N"isits to other neiohknuring Emmaus Communities. attending the Lmmaus LIK l.ederalion InduLlion DaN". iraining in the responsibililies of a -Irustee and assumplion ol" appropriate roles in support ot-the Communit). and its social enierprise. Attendance at Ihe F.mmaus Annual Assembl!, and othLr cunfcrcnLCS and mccting5 of thc Emmaus Mui"cmcnt form an imwrtant ila)" in M".hich ncii. Trustccs Icarn thc F.mmaus ethos and best practice and gain esseniial contacts. All trustccs givc thcir timc voluntaril!. and rccciN'c no bcncfits from thc Charity". No cipcnsc5 hal-c bccn claimcd from thc charity. sinLe September 2018. None ot-the irustees has an!. beneficial inieresi in the compan) The Wider Emmaus Movement F.mmaus in the UK is part of the inlernaiional F.mmaus Moi'ement. made up of 425 member groups ii'orking in 41 countrics around thc iN'orld. Thc ii"ork- that thc mcmbcrs do I'aric5. dcpcnding on thc nccds ot thc countiTr". that thc).. ii'ork- in, bul all Groups share a commitment to "sen'e.fir51 Ihose ii.ho suffer niosl. as set oul in ihe Uniwersal Manifeslo of ihe Emmaus MoN'ement. Emmaus South Wales has full membership of Emmaus UK, Emmaus Europe and Emmaus Inlernaiional. As part of an intcrnational Moi"cmcnt. wc Icarn from onc anothcr. sharc clpcricnccs and ivork togcthcr tc) support thosc in greatest need. Staff: companions. I'olunteers and trusiees in the UK participate in exchanges: meetings, and in solidarity salcs w'hcrc moncv is raiscd for Emmaus projccts in FKK>rcr countrics. In thc UK. Emmaus South Walcs continucs to work alongsidc thc othcr communitics in thc UK Fcdcration. Wc continuc to share the learning and experience gained trom the dei'oli'ed naiure of Housing and Homelessness in IlIales. i¥ith our counterparts elseM,here in the IJK. and equall!" to learn trom theirs. As members of Emmaus IJK. we have contributed to the collectiwe review of UK slrateg! and Lontinue to benefii from ihe shared sen ices and resources.
EMMAUS SOUTH WALES TRUSTESS, REPORT {INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Related partie5 F.mmaus South Wales is a member of F.mmaus UK: F.mmaus F.urope.. and F.mmaus International. Emmaus IJK supports the dei'elopmenl of Emmaus Communities in the IJK. Mle ii-ork closel).. ilith Emmaus IJK across all areas of our i%ork: and benefit from iheir support iliih: communicaLions: markeling and Meb managemeni, tundraising, business and retail del'elopment: perforniance monitoring and .-aluatIOn. communits. dei'elopment. Lompanion referrals, slraiegic planning and finance. -rhe Board greail!" apprecia$ the suprM)rt receii'ed. Roots IIR proi'ide an HR sen'ice to Emmaus Communiiies. THANKS The Trustees would like to express their thanks to all ii-ho hai-e suprxirted the Emmaus South Ilales Communitv and Social Lnierprise in the past }"ear. especiall!" Ihe Chief L.xeculii'e and sthtT of Lmmaus UK. and all -1 ruslees, sthfi- and 'olunteers. Our sincere thanks also go to Simon l.lo)'d i%,ho greatl!. supwrted the Board during his time as Trustee. His input during his timc i%'ith Emmaus South Walcs is grcatl!" apprcciatcd. Wc arc immcnscli. gratcful t.or thc gcncrous suptK)rL trom all our fundcrs. Once again, we thank our generous donors of fvrniture. clothes. ix)oks and bric-a-brac and to our wonderful customers .ho thcn bu!, thcm and signtKTr5t othcrs to our shops! As shown on page 22. "t are immenselTr' graieful for the generous supporL at a lime of crisis, from.. Walerloo Foundation, The Albert Hunt Trust, Fairshare and Arnold Clarke. Fullds held as custodiall trustee Fund held b), trustees for third parties The charitv holds funds Isai'ings) on behalt of Companions. Ivhich are built up H"eekl!' at £) per Companion from his or her i¥eeklN allowance. "I"his enables each Companion io. haK"e some saK'ings i%.hen ihe) moi e on from Lmmaus South Wales. The saN'inos are held solel!. for the benetit of the Companions. The amounts sai'ed are recorded at the Community, home at Nant Lais and are kepl separate from oiher funds as required I--RS102 module 19. 'I'he trustess, report ¥'aS approved b). the ljoard ol"[ rUSe5. Mr F. Francis Trustee Ms J A Raikes Trustee Datc= 17.1. 03.1. 2025
EMMAUS SOUTH WALES INDEPENDENT EXAhllNER'S REPORT TO THE TRUSTEES OF EMMAUS SOUTH WALES I report lo the trustees on my examination of the financial slatements of F.mmaus South Wales (the charity} for the year LndLd 30 Junc 2024. Responsibilities and basis of report As the tn]stees ot the charity" land also ils directors for the purrx)ses of compan}- laiN). }-ou are responsible tor the prLparation of thc financial statcmcnts in accordancc ii.ith thc rcquircmcnts of thc Companics Act 2006. I laving satisfied ml'seif that the financial statemenis of ihe charil) are noi required be audiled under Part 16 Ol- the Companies Act 2006 and are eligible tor independent eNamination. I rerK)rt in respect ot m1- examination ot the charity's finanLial statcmLntS Larricd out undcr SLYtion 14) ut- thc Charitics Act 201 l. In carr) ing out m!. C.]natiOn I hawc folloM.'ed Ihe Directions given bj. the Charits, Commission under section 145(51(bl of the Charilies Act 2011. Independent examiner's statement Since the Lharil). s gross income exceeded £2iO.(K)O )"our examiner musi be a member of a tM)d> lisied in section 145 of the 2011 Act. I contirm that l am qualitied io undertake the elamination because l am a member of IC.4EW, ,hICh is one of the lisied EM)dies. I have completed examinaiion. I confimi that no mailers hai"e come io mv allenlion in conneclion wilh ihe examination gii'ing me cause to belieN'e that in an!- material respect= accounting records ere noi kepi in respeci of the charili as required bi. seclion J86 ofthe c.ompanies Aci 2006. the financial statements do not accord ii.ith those records= or the financial statements do noi compl!, i*iih ihe acLouniing requiremenis of section 396 of the Companies Aci 2006 other than any requirement that the tinancial statements giN"e a true and fair Wie.: Iwhich is not a matter considered as part olan independent examinaiion- or the financial statements hai'e noi been prepared in accordance i1.ith the methods and principles of the Statement of Recommended Practice for accouniing and reporting bi charilies applicable io charilies preparing iheir financial statements in accordance H-ith the Financial Reportino Standard applicable in the IJK and Republic ol. Ireland IFRS 102). I have no concems and haN'e come across no oiher mailers in conneciion ii.iih ihe examination to i4.hich alleniion should be draivn in this report in order to enable a proper understanding ot'the financial statements to be reached. UHY Hacker Young Bradbury Housc Mission Court Ncwport GTh'ent NP20 2DW Datc= 1710312025 10-
EMMAUS SOUTH WALES STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUIYT FOR THE YEAR ENDED30 JUIYE 2024 Unrestricted Reslrieted funds funds 2024 2024 Total Unrestricted Restrieted funds funds 2023 2023 Total 2024 2023 Notes Income and endowments from: Donations and legacies Charitablc actii'itics Other irading activities Invcstmcnts Other income 273.049 386.319 25.157 891 4.135 27).049 J86.319 25.157 891 4,135 3.279 i.279 334.fv18 3.75) 8.320 3.7)) 8.320 Total ineome 613.64) 613.64) 689.551 689.ii I Expenditure on: Raising funds Charitable actiTr'ities 4.760 823,707 4.760 862,218 718,978 i3,655 772.633 38,511 Total expenditure 718.978 i3.655 772.633 828.467 38.511 866,978 Net expenditure and movement in funds ( IOi.))J) {5J.655) (158.988) (138.916) (38.511) (177.427} Reconciliation of funds: Fund balancc5 at l July 2023 919.J92 955.987 175.ill 957.903 1,133,414 Fund balances at 30 June 2024 (68.738) 865.737 796.999 36,59) 919.392 955.987 The statement ot tinancial actiN"ities includes all gains and losses rec4)gni.sed in the }'ear. All income and expenditure dcriwL from Lontinuing activitlL5. 11
EMMAUS SOUTH WALES BALANCE SHEET AS AT 30 JUNE 2024 2024 2023 Notes Fixed assets Tangible assets 15 1,119.606 1,175,949 Current assets Stocks Debtors Cash at bank and in hand 16 17 4.806 4).792 4.806 67.900 124.805 80.261 197.511 Creditors: amounts falling due within one year 19 (14i.960) {144.800) Net current (liabilities)lassets {65:699) 52,711 Total assets less eurren¢ liabilities ,053.907 1,228,660 Creditors: amounts falling due after more than olle year 20 (2i6.908) (272.673) Net assets 796.999 9)5,987 Income funds Restricted funds Unrestricted funds 22 865.737 {68.7J8) 919,392 36.)95 796.999 9)5.987 The compan!, is eniiiled to Ihe eeMptIOn from the audit requirement contained in section 477 of the Companies Act 2006, tor thc vcar cndcd 30 Junc 2024. 'I'he directors acknokvledge their resw)nsibilities lor compl1.ing ii.iih the requirements of the Companies Aci 2006 with respect to accounting records and the preparation of tinancial statements. The members have not required the compan). lo obtain an audit of its financial slalements for the )'ear in question in accOrdcC M'ith scction 476. Thcsc financial statcmcnts hai'c bccn prcparcd in accordancc iiith thc pro%"isions applicablc to companics subjcct to thc small companies regime. 17.1. 03.1. 2025 The financial statements were approi'ed bv the Trustees on .. . Mr E Francis Trustee Ms J A Raikcs Trusttt Company registration number 07188459 12-
EMMAUS SOUTH WALES STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2024 2024 2023 Notes Cash flows from operating aetivities Cash absorbed by operations 27 (84.867) 1165,598) Investing aetivities Purchase oftangible fi.xed assets Proceeds trom diswsal ot tangible filed assets Investment income received (2,615) 1.500 891 Net cash generated froml(used in) investing aelivities 5.255 11.724} Financing activities Rcpaymcnt ot bank loan5 ( l i.530) (14.7041 Net cash used in finallciDg activitie5 (15,530) 114,704) Net deerease in eash and eash equivalents {95.142) (182.026} Cash and cash equii"alents at beginning ol! ear 124.805 J06.8J I Cash and eash equivalents at end of year 29.663 124.805 13-
EMMAUS SOUTH WALES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Accounting policies Charity information Lmmaus South 11.'ales is a private compan!" limiied b)" gUarane incorpN)rated in Lngland and Wales.-l-he registered oftice is Nant Lais. Nant Lais. Bridoend. CF314SD. 1.1 Aecounting convention The financial statements hai'e been prepared in accordance ii-ith the charits s gOeMing documenL the Companies Aci 2006, 1.-RS 102 '-1-he l--inanLial Reporting Sndard applicable in ihe LIK and Republic of Ireland" and ihe Charities SORP "Accounting and Reportino b). Charities.. siatemeni ot" Recommended Practice applicable to charities preparing their accounts in accordance ii.ith ihe l.-inanLial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)". The charity. is a Public Benefit F.ntit)' as defined FRS 102. The financial statements are prepared in sterline. ii.hich is the tunctional currencs. of the charity,. Monetar), amounts in thLsc finanLial statcmcnts arc roundcd to thc ncarcst £. The financial statements hafve been prepared under the historical cost conveniion. The principal accounting policies adopted are set out beloii.. 1.2 Going concern Al ihe lime of approi'ing the financial slalements. Ihe irusiees haN"e a reasonable eipectalion thai the eharilv has adequate resources to continue in operational existence for the toreseeable future. Thus the trustees continue to adopt ihe going Loncern basis ofaLcouniing in prewdring ihe linancial staiemen(s. 1.3 Charitable funds Unreslricied funds are available for use ai the discreiion olihe irustres in furtherance of their charitable objeclives. Restricted lunds are subject io specific conditions bi" donors or graniors as lo how thev maN, be used. l-he purposes and uses of the restricted tunds are set out in the notes to the financial statements. Endowment funds are subject to specitic conditions b!- donor5 that the capitsl must be maintained by the charity- 1.4 Income Income is recognised 'hen the chariTh' is legall!. eniiiled to li after an!. perforn)ance conditions have been met, the amounts can Lx mcasurcd rcliabl!-. and it is probablc that incomc ii'ill bc rcccii-cd. Cash donations arc rccogni5cd on rcccipt. Othcr donation5 arc rccogni5cd oncc thc charity has bccn notificd of thc donation, unless perforniance conditions require deferral of ihe amount. Income tax recoi'erable in relation to donations rcccii'cd undcr Gift Aid or dccds of coi'cnant is rccogniscd at thc timc of thc donation. Legacics arc rccogniscd on rcccipt or othcni'isc if thc charitK. has bccn notificd of an impcnding distribution, thc amount is knoi¥n. and receipt is expected. If the amount is not knoiin: the legac).. is treated as a contingent asset. 1.5 Expenditure Expcnditurc is rccogniscd oncc thcrc is a Icgal or con5tructii"c obligation to transfcr cconomic bcncfit to a third part).. it is probable ihai a transfer of economic benefits ivill be required in settlement, and the amount of the obligation can bc mcasurcd rcliablv. Expcnditurc is classificd bTr actii'it%-. Thc costs of cach actii-iti" arc madc up of thc total of dircct costs and sharcd costs, including support costs ini'oli'ed in under(aking each actiipjty.. Direci costs attributsble to a single actii'it}' are allocatcd dircctl}" to that actii'ih-. Sharcd costs II"hich contributc to morc than onc actii'it). and sutvirt costs 14.hich are noi atlribulable io a single actii. it)" are apportioned betiveen ihose aclii ilies on a basis consislenl iwiih ihe use ol resources. Central staff costs are allocated on the ba515 of time spenL and depreciation charges are allocated on the portion olthe asset's use. 14-
EMMAUS SOUTH WALES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 AccouDtillg policie5 (Continued) 1.6 Tallgible fixed assets -langible fixed assets are measured cost. nei of depreL'iaiion and anN' impaim)eni losses. Depreciation is recognised so as to i*rile off the cosi or valuaiion of assets less their residual values over iheir Useful lives on the tolloii'ing bases= Freehold land and buildings Fixtures and fittinos Computers Motor vehicles 20•/0 Siraighi line 20 % straioht line 20 % Siraighi line 400/0 reducing balance 1.7 1mpairn]ent of fixed assets At cach rcporting cnd datc. thc charity rci'iciis thc cam-ing amounts of its tangible asscts to dctcrniinc ii,hcthcr there is an), indication thai ihose assets haie sulTered an impaim]eni loss. Ir an) such indiLation e.xisls. Ihe reco.erab1e amount of the asset is eslimated in order lo deterniine the extent of the impairment loss lif an).). 1.8 Stocks Stocks are staled at the loiver of cost and estimated selling price less costs to Complete and sell. Cost comprises dircct malcrials and. iyhcrc applicablc. dircct labour costs and thosc oi'crhcads that haN'c bccn incurrcd in bringing the stoLks to their present localion and condilion. liems held lor dislribulion at no or nominal consideration are measured the loii'er of replacement cosl and cost. Net realisable 'aIlle is the estimated Selling price less all estimated costs ot completion and costs to be incurred in marketing. selling and distribulion. 1.9 Financial instruments Thc charity has clcctcd to appl)" thc pros'ision5 of Scction I I '"Basic Financial Instrumcnts and Scction 12 '0thcr Financial Instruments Issues of FRS 102 to all ot-its financial insiruments. Financial instruments are recognised in the chariii"'s balance shttl when the charily becomes partN' to ihe contractual provisions of the instrument. Financial assets and liabilities are offset, ii-ith the net amounts presented in the financial slatements, when there is a legall! enforceable right io sei otT ihe recognised amounts and ihere is an inn(lOn lo setile on a nel basis or lo realise the asset and settle the liabilits. simultaneouslv. Debtors and creditors ii-ith no stated interest rate and receii-able or pa!"able .]thin one )Tear are recorded at transaLtion pricc. Anl. 105SC5 arising from impairmcnt arc rccogniscd in thc profit and loss account in othcr administratii'e expenses. Dereeognition of financial li¥bili¢ies I'-inanLial liabilities are derecognised iyhen ihe chariiy" s conirncLual obligations expire or are discharged or cancelled. 1.10 Employee benefits -I'he cost of any unused holida). enliilemeni is recognised in the period in i4.hich the employee s services are receii'ed. Temination benefits are recognised immediatel). as an expense M,hen the charit), is demonstrabl> committed to tcrminatc thc cmploymcnt of an cmplo)'cc or to providc tcrmination bcncfits. 15-
EMMAUS SOUTH WALES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 AccouDtillg policie5 (Continued) 1.11 Retiretllellt benefits Pa)'menls lo defined Lonlribution retiremeni benefit schemes are charged as an expense as theN. fall due. Critical accounting estimates and judgements In the application ot the charits-"s accounting wlicies, the trustees are required to make jlldgemts, estimates and assumptions about ihe carr¥'ing amounL of assets and liabililies ihai are noi readilN' appareni froin other sources. The estimates and associated assumptions are based on historical experience and other tactors that are considered to be releianl. Actual results mal ditTer Irom ihese estimaies. Thc c5timatcs and undcrll'ing assumption5 arc rci.1.cd on an ongoing ba5]5. Rci'i5ions to accounting cstimatC5 arc recognised in the period in ii'hich Ihe estimaie is rei'ised ii.here Ihe rei'ision atTects onlN that period. or in the period of thc rcN'ision and futurc pcriod5 Nvhcrc thc rcN-ision affccts ixyth currcnt and futurc pcriods. Income from dollations and legacie5 Unrestricted funds 2024 Unreslrieted funds 2023 Donations and gifts Grants 218.052 45,591 188,792 84.257 263,643 27).049 Income from charitable activities Unrestricted funds Unreslrieted fund5 2024 2023 Sales within charitable aetivities Sale of goods 3,279 386.319 Income from other tradillg activities Unrestrieted Unrestricted fund5 funds 2024 2023 Shop incomc 334.648 25,li7 16-
EMMAUS SOUTH WALES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Income from investments Unrestrieted Unrestrieted funds funds 2024 2023 Interest receivable 3.755 891 Other incotne Unrestricted Unrestricted funds funds 2024 2023 Nel gain on disposal of iangible fixed assets Othcr incomc 858 7.462 7.462 Expenditure on raising funds Unrestrieted Unrestricted funds funds 2024 2023 Fundraising and publicity Other fundraising Losts 4,760 17-
EMMAUS SOUTH WALES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Expenditure on charitable gctivities Charitable activitie5 Charitable actii'itie5 2024 2023 Direct Costs sr[ costs Depreciation and impairment Premises costs Motor expenses .1 elephone Bank- chargcs Insurance Rcpaits &, rcncm'als Shop expeneses Companion costs Computer costs LiLcllLCS & subscription5 Printing. p)stage &- stationer), Adwertising & marketing Other costs Other staff cos 148.786 55,701 113.191 27,020 1.755 23,984 .746 168.798 64,976 152.102 27,703 23,615 7,340 7.656 i4,224 20 4.068 ,001 ,084 4,504 2.017 5,504 61.325 5.029 217 3.652 4,376 1.391 457.260 541.795 Share of support and goverllanee eosts {see note 10) Support Governance 304.621 10.752 302.660 17.763 772.633 862.218 Analysis by fund Unrcstrictcd funds Restricted funds 718.978 53.655 823.707 772,633 862,218 18-
EMMAUS SOUTH WALES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 10 Support cos¢s allo¢a¢ed ¢0 activities 2024 2023 £taft cosLs Premises costs Insurance Printing.. rK)Stage & stationerv .1 elephone Trai'el & subsistence Computer costs Licences & subscription5 Other Losts Othcr staff costs Goi'emance costs 198.556 206.806 i6.286 6,912 15,930 1,118 11,764 344 2.241 1,916 3.120 835 4.493 i73 4.967 16,7)2 17,763 4.430 10,752 315,37) 320,423 Analysed between: Charitable aLlii'ilies 315.373 J20.423 li Net movement in funds 2024 2023 The net movement in funds is stated after charginol(crediting)= Fees payable for the independent eiamination of the charits s financial 5thtements Depreciation of oii'ned tangible fixed assets Protit on disposal ot tangiblc fixcd asscts 5.388 55.701 18581 5,000 64.976 12 Trustees Nonc of thc trustCC5 (or an)." pcrson5 conncctcd ilith thcm) rcccii.cd anN' rcmuncration or bcncfits from thc charitj. during the )'ear. 13 Employee5 The average monthl!. number ot emplo)'ees durine the l-ear ii"as= 2024 2023 Number Iyumber 13 13 19-
EMMAUS SOUTH WALES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 13 Employee5 (Continued) Employmellt costs 2024 2023 Wages and salaries Social seluritw cos Other pension costs 324,249 14.778 8,315 337,413 29.221 8,970 347.342 375,604 Thcrc wcrc no cmplo%"ccs ii"h05c annual rcmuncrdtion m.as morc than £60.0. Remuneration of key management personnel The remuneration of keTr' management personnel il'as as folloii's: 2024 2023 Aggregate compensation 94.429 14 Taxation 'I'he charitv is exempt from taxation on its aciii ilies because all its income is applied for charilable purtx)ses. 15 Tangible fixed assets Freehold Fixtures and Computers land and fittings buildings IVAolor vehicles Total Cost At l JulTr' 202J Disposals 1.5(K).597 143.441 14.924 91.496 (14.7iO) 1,7iO,4i8 (14,750} At 30 June 2024 1.5(K).597 14.924 76.746 1,735,708 Depreciation and impairment At l Jul>. 2023 Dcprcciation chargcd in thc ycar F.liminated in respect of dIsSaIS 363.788 40.839 13J.730 3.)63 12.570 698 64.421 10.601 (14.108) 574,509 i5.701 (14,108} At 30 June 2024 404.627 137.293 13.268 60.914 616,102 Carrying Amount At 30 June 2024 1,095.970 6,148 1,656 1,119,606 At 30 June 2023 1.136.809 9.711 2,354 27.07) 1,175.949 -20-
EMMAUS SOUTH WALES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 16 Stocks 2024 2023 Finished goods and ooods for resale 4,806 4,806 17 Debtors 2024 2023 Amounts falling due olle year: Trade debtors Othcr dcbtors Prepavments and accrued income .580 26,384 39,936 8.547 37,245 45,792 67,900 18 Loans and overdrafts 2024 2023 Bank loans 27J.298 288.828 Payablc within onc j'car Pai'able after one )'ear 16.390 256.908 16.li5 272.673 19 Creditors: amounts falling due within one year 2024 2023 Note5 Bank loans Other t&xation and social security -I'rade Lredilors Other creditors Aciruals and delerred income 18 16.390 5.483 16.155 14,li2 36.451 8,733 69.309 7,621 62,668 145.960 144.800 20 Creditors: amounts fallillg due after more than one year 2024 2023 IYote5 Bank loans 18 256.908 272,673 21
EMMAUS SOUTH WALES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 21 Retirement benefit Schemes 2024 2023 Defined eontribution schemes Charge to profit or loss in respect of defined contribution schemes 8,31) 8,970 'I'he uharity operates a defined contribulion pension scheme for all qualifving emplol'ees. "l-he assets of the scheme are held separatelTr' trom those ot the chariti" in an independentl!" administered fund. 22 Restricted funds The restricied t-unds ot- the charits. comprise ihe uneypended balances of donations and grants held on trust subject to specitic conditions b), donors as to holy the!. ma)" be used. At l July 2023 Resources expended At 30 June 2024 Nant l.ais- Dei'elopment of Communit). Home Farcsharc Moondance Foundation 894.080 832 24.480 (28.557) 16181 (24,480) 865.i23 214 919.)92 (53.6551 865,737 Previous year: At l July 2022 Resources expended At 30 June 2023 Nant Lais- Dewelopment of Communil). Ilome Fareshare Bridgent Associaion of Volunlary Organisalions Moondance Foundation 9J1.808 1.385 230 24.480 (37,728) (5531 (2301 894.080 832 24,480 9i7.903 138.5111 919,392 Nant Lais Development of Communit). Home - this funding lias prOlded to dciwclop thc charits s community home. The Big l.oiten' and Ilelsh Goi'ernment proi'ided granis ivith a suprx)rting charge on the land and buildings to cnsurc that thc propcrtw" is uscd t-or thc purposc of proi-iding homcs for companions. cnd cannot bc sold ii-.ithout permission from the donors. The eypenditure on this fund relaies to the depreciaiion charge on the property. Fareshare - this lunding w'as proi.ided to purchase kIhen equipmeni for ihe communily. BridgeDd A550ciatioll of Voluntary Organisations - this funding il.as proTridcd to support thc cost of mak'ing facc masks. Moondance Foundation - Ihis funding li.as proi.ided io fund 6 companions for 12 months. -22-
EMMAUS SOUTH WALES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 23 Unrestricted funds Thc unrcstrictcd fund5 of thc charity. comprisc thc uncxpcndcd balanccs of donations and grants which arc not subjecl to specitic conditions b!. donors and graniors as 10 hoii, thes mai. be used. These include designated funds whiLh hdvc bccn 5Ct asidc out of unrcstrictcd funds b)" thc trustccs for 5pccific purFK)5CS. At l July 2023 Incoming resources Resources expended At 30 Julle 2024 General tunds 36.59) 613.645 {718.978) 168,738) Previous year: At l July 2022 Ineomittg re50urees Resources expended At 30 June 2023 General funds 175.511 689.i51 (828.4671 36,595 Thc dcticit in thc unrc5trictcd rcscTrcs M-as not duc to 5pcnding rcstrictcd incomc but through an oN'cr commitmcnt io spending in the folloiTring Trear on unrestricied aclii ilies. "l-his has been coK'ered posl )'ear end by income generated from the opening of the ne. store noted in the trustees re]x)rt. 24 Analysis of net assets between funds Unrestricted funds 2024 Restricted funds 2024 Total 2024 At 30 June 2024: Tangible assets CurrLnt ltS/(liab1llt1c5) Long tem liabilities 2i4.il I {66.J41) (2i6.908) 865.09) 642 1.119.606 165.699} (2i6.908} {68.738) 865.737 796,999 Unrestricted funds 2023 Restricted funds 2023 Total 2023 At 30 June 2023: Tangible assets Currcnt a5SCtsllliabilitics) l.ong terni liabilities 256.557 i2.711 (272.673) 919.392 1,175.949 52,711 (272,673} 36.595 919,392 9)5,987 -23-
EMMAUS SOUTH WALES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 25 Operating lease commitments At the reporting end date the chariti. had outstanding commitments for future minimum lease payments under non- canccllablc opcrating IcasC5: which fall duc folloiY5= 2024 2023 Within one N'ear 26 Related party transactions Thcrc 'Cre no disclosablc rclatcd paw- transactions during thc !"car (2023 - nonc). 27 Cash absorbed by operations 2024 2023 Dcficit for thc ycar {158.9881 (177,427) Adjustments for: Ini"e8tment income recoonised in statement of tinancial actii-ities Gain on disposal oftangible fixed asse Depreciation and impainnent of tanoible fixed assets (3,75)) (8581 55.701 {891} 64,976 Movements in working capital: {Increase} in stocks Decreasellincrvdse) in debtors InLreasel(decreasel in Lredilors {DcLrcascl in dct-crrcd incomc {2.i52} (21,094) {.?.858} 124,7i2} 22.108 925 Cash absorbed by operations (84.8671 1165,i98) 28 Analysis of changes in nel (debt)Ifunds At l July 2023 Cash flows At 30 Julle 2024 Cash at bank and in hand 124.805 (95.142) 29.663 Loans falling due "111n one )'ear Loans talling due after more than one l'ear {16:155) (272.673) 116.J90} (2i6,908) 15,76) (164.023) (79.612) (243,635) -24-