REGISTERED COMPANY NUMBER: 4187497 {England and Wales)
REGISTERED CHARITY NUMBER: 1140129
ort of the Trustees an
Flnanclal Statements
forthe Year En
d 31st March 2024
for
Prlme
Ashmole & Co (Statutory Auditor)
Chartered Certlfled Accountants & Reglstered
Auditors
9 Broad Street
Llandovery
Carmarthenshlre
SA20 OAR

Prlme C
mru
Contents of the Flnanclal Statements
for the Year Ended 31st March 2024
Page
Report of the Trustees
Report of the Independent Audltors
9 to 12
Statement of Flnanclal Actlvltles
13
Balance Sheet
14 to 15
Notes to the Flnanclal Statements
16 to 32
Detalled Statement of Flnanclal Actlvltles
33 to 34

Prlme
mru
Re
ort of the Trustees
for the Year Ended 315t March 2024
The trustees who are also directors of the charlty for the purposes of the Companies Act 2006, present their
report with the financial statements of the charity for the year ended 31st March 2024. The trustees have
adopted the provlsions of Accountlng and Reporting by Charities: Statement of Recommended Practlce
applicable to charities preparing thelr accounts in accordance with the Financial Reporting Standard applicable
In the UK and Republic of Ireland IFRS 1021 leffectlve l January 20191.
OBJEcfivES AND AcfiviTIES
ObJe¢tlves and alms
The relief of unemployment primarlly In Wales but not solely restrlcted to Wales, through the encouragement
of self-employment, employment, tralnlng and volunteerln8 to mature members of the general publlc wlth a
focus on those over the age of 50, who are not engaged In pald employment, are under-employed or faclng
redundancy who would beneflt through enhanced Income, opportunltles for engagement In meanlngful
activity and the preventlon of soclal excluslon and older age poverty.
Vlslon and Mlsslon Statement
PRIME Cymru's vision is to ensure that the undervalued experlence, skills and entrepreneurial potentlal of
mature people wlll be recognlsed and developed through the actlvltles of PRI ME Cymru.
PRIME Cymru's mlsslon Is to provlde Informatlon, advlce, tralnlng and mentorlng support to empower mature
economically Inactive or unemployed people, to reallse thelr potentlal and progress Into employment,
self-employment, educatlon, tralnln8 or volunteerln8 to move closer to the world of work to reduce older a8e
poverty In retlrement. We do thls through developln81 and dellverin81 Innovatlve programmes of actlvlty that
develop and enable the Indlvldual to take part Sn economlc actlvlty.
Publlc beneflt
The trustees conflrm that they have complled wlth thelr duty In sectlon 17(51 of the 2011 Charltles Act wlth
regard to the Charlty Commlsslon's general guldance on publlc beneflt when rev5ewlng the Charlty's oblect5ves
and In plannlng of future actlvltles.
Page I

Prime
Re
ort of the Trustees
r the Year Ended 315t March 2024
ACHIEVEMENT AND PERFORMANCE
During the financial year both PRIME Cymru, and the wider charity sector, has continued to face many
challenges due to the ending of European Social Funding via the E.U., and the uncertainty of how the Shared
Prosperlty Fund will operate in Wales to support the Third Sector. Our tearn of staff and volunteer mentors
have worked tirelessly to support our clients to f ind and secure job opportunities, start businesses, re-train,
and volunteer to develop the skllls needed by a modern workforce. Thls has enabled us to meet both our own
targets and, in all cases, exceed those tar8ets placed by our funders. As a result of these successes, the Senior
Management Team has been able to secure forward fundlng for the charlty. Thls means we have safe8uarded
its future for at least the next two years vla the Moondance Foundatlon whlch h35 been a 8reat supporter of
the charlty for several years. The trustees therefore conflrm that It Is approprlate to prepare the financial
statements under the 8olng concern bas1S.
In the financlal year we worked wlth nearly 1000 Indlvlduals wlth 89% of our partlclpants havlng a posltlve
outcome in moving closer to their goals of securing employment, starting a business, and retralnlng to develop
skills to meet the needs of employers. This has enabled them to regain flnancia l independence for both them
and thelr famllles, and to contribute to thelr local economies and the greater economy of Wales. Overall,
PRIME Cymru has provlded a Soclal Return on Investment to the Welsh economy In excess of £2 million.
Our Volunteer Mentorln8 programme has continued to grow durlng the year and we now have one of the
largest mentoring programmes In Wale5 Wlth nearly 160 Volunteer Mentors offerin8 UP to 19,000 hours
mentorln8 time per annum. The team at PRIME Cymru understand how lrnportant It Is that we value and
provlde the rS8ht support, tralnlng and opportunltles for development to our volunteers, and In Aprll 2023
secured the Investors In Volunteerln8 accredltatlon. Thls natlonally recognlsed accredltatlon acknowledges the
quallty of tralnlng and on8olnB sUPPOrt provlded to all volunteers workln8 wlth us.
Sadly, In September 2022 we saw the death of Her Majesty Queen Ellzabeth11 and the successlon to the throne
of our founder HIS Majesty Kln8 Charles111. We are greatly honoured that HIS Majesty has declded to malntaln
PRIME Cymru as a Royal Foundlng Patronage and contlnue to offer hls support where posslble. HIS successlon
has enabled us to promote the actlvltles of the charlty throughout Wales and publlc vlslblllty has been greatly
Increased. We contlnue to be the recognised authorlty on older age worklng, wlth natlonal press and televlslon
referring to us for comment and advice on the topics of older a8e career change, recruitment, and
campalEnln8 for equallty In the workplace.
We would like to offer our gratltude to our commltted team of hlghly experlenced and skllled staff who work
so hard to deliver our services, our Volunteer Mentors, trustees, our Patrons and funders in the last year whlch
were The Prince of Wales Charitable Fund, Postcode Lottery Fund, and In partlcular the Moondance
Foundation, without whom we would not be able to provide our vital and often life changing services
throughout Wales.
Page 2

Prlme
mru
ort of the Trustee5
or the Year Ended 31st March 2024
FINANCIAL REVIEW
Flnanclal posltlon
Net incoming resources for the year, before gains / losses on Investments amounted to1£443,343) in 2023124
compared to £323,927 in 2022123. Total net funds as at 31 March 2024 amounted to £347,427, representin
unrestricted funds only. There were no restricted funds carried forward as at 31 March 2024.
A modest investment fund Is managed on behalf of PRIME Cymru by Walker Crlps. The trustees revlew the
performance of the Investment fund regularly and as a result make declslons In respect of further dep051ts to
the Investment fund or withdrawals to the 8eneral fund accordlnglv.
Bankln8 facilltles are revlewed annually by the Chlef Executive, and they advlse the Flnance, Audlt and Rlsk
Committee members on alternative opportunltles that may beneflt the charlty.
Reserves pollcv
It is the pollcy of the Trustees to develop adequate unrestrlcted reserve funds to reduce the charity's
dependence on grant income excluslvely from the publlc sector, and we aim to malntaln free reseprfes at a
level equlvalent to 3 months runnlng costs.
Page 3

Prlme
ort of the Trustees
for the Year Ended 31st March 2024
PLANS FOR FUTURE PERIODS
We intend to work towards broadening our funding base by seeklng corporate funding through CSR schemes
and developing new and innovative programmes that will capture the interest of Welsh Government and other
funding bodies. Further development of the 'PRIME Cymru Patron5' Group" will also be a key activity during
the year.
Objectives for the year will include:
Increase the number of people engaged per year
Increase the geographical reach of our services
Dlverslfy fundin8 through corporate sponsprshlp
Golng forward the 2024-2026 strate8lc obJe¢tlves of PRIME Cymru are to:
Malntaln, and bulld on, current resources to meet the ever-8rowln8 needs of our Increaslng customer
base. Flnanclal stablllty wlll provlde Stable employment opportunltles for our staff enablln8 Contlnulty In
dellvery of servlces to our current and future cllents.
We are doing this throu8h developlng a fundraislng plan that incorporates both contractual and Brant based
fundin8 appllcatlons, developln8 relatlonshlps wlth corporates to access CSR fundlng and collaboratlve
activities to deliver services, increasing patronage opportunities and Identlfylng a potential longer-term
plpeline of fundlng optlons.
Contlnue to Invest In Its stafl, mentors and trustees to ensure that all can utlllse thelr skllls and experlence
for the beneflt of the charlty and Its customers.
We are doin8 thls by produclng an Integrated tralnlng plan based on identified needs of staff/
trustee/volunteer needs and emerglng le8Sslatlon. Undertaklng a skllls audit of Trustees and Mentors to enable
utlllsation of potentlal unreco8ni5ed skSlls that can be used to support our cllent base. Develop and embed a
culture of equallty, dlverslty and Incluslon {EDII wlthln the organlsatlon seeklng to Improve our processes,
ethos and outcomes In Ilne wlth our equallty plan.
Ensure that all staff, mentors and trustees are effectlve In thelr roles enabllng our customers to recelve
support servlces that meet thelr needs and those of the labour market In Wales.
This will be done by Increasing our contribution to the development of a successful workforce in Wales by
Increaslng the number of indivlduals we help and the varlety of cllents we support to positlve outcomes. We
will identify labour market shortages and raise awareness of opportunlties to service users and encourage
employers to make better use of older workers. In additlon, we wlll use our equality monltorlng data and
continue to extend the
diversity of our service users to ref lect the different cornmunities in Wales with a
particular focus on the BM'S community to ensure that our reach is increased.
Wlll contlnue to develop Ils external communlcatlons to ralse awareness of the or8anlsatlon's artlvltles
and outputs,whllst Increaslng publlc recognltlon amongst key stakeholders, potentlal cllents, mentors,
funders and patrons.
To do this, we will develop stakeholder strate8y to Identlfy and develop partnershlps wlth stakeholders and
third sector organlsations to increase access to addltlonal customer groups and raise awareness of services to
these users. We wlll also seek opportunltles to contrlbute to or conduct jolnt research projects related to our
customer group and the thlrd sector.
Page 4

Prlme
ort of the Trustees
for the Year Ended 31st March 2024
Endeavour to operate In an envlronmentally frlendly manner and wlll monltor and report on Its operatlonal
Impact on the envlronment annually.
To ensure that we work towards reduclng or carbon footprlnt for our activities we will monltor and report on
ener8y• fuel and consumables usa8e. We will also seek accreditation of the charity's green credentials by
securlng the"Green Mark"
In addltlon, we plan to contlnue to generate further Ilvely debate wlth pollcy makers on the pllght of the
economlcally Inactive 50+ cohort, the need for dedicated tailored support forth15 underrepresented group and
the need to concentrate on reduclng inactivity levels that can lead to older age poverty.
STRucfuRE, GOVERNANCE AND MANAGEMENT
Governlng document
The cornpany was incorporated under the name of PRIME Cymru on 26 March 2001, and Is a company limited
by Buarantee registered in England and Wales. Charitable status was obtained in February 2011 under
reference 1140129.
PRIME Cymru is constltuted by Its Memorandum and Articles of Assoclatlon.
Management and governance
Trustees of PRIME Cymru are Identlfled and recrulted to ensure that they brln8 to the organlsatlon the
expertlse and skllls identlfled as necessary for the proper effectlve and efficient runnlng of the charity. In
recrultment of Trustees our formal Trustee Recrultment Pollcy and process Is adhered to. Shortllsted
candidates are Intervlewed by two current Trustees and the Chlef Executlve. Those successful at Intervlew are
Invlted to attend, as an observer, the next board meetln8 where a formal offer of Trusteeshlp Is
communlcated.
All new trustees of the charlty undertake a formal Inductlon to the charlty's operatlon and a¢tSvltles, alon8 wlth
recelvlng a lob descriptlon and a copy of the board's code of 8ood governance.
The day to day runnlng of the Charity Is delegated to D J Pugh the Chlef Executive who Is appolnted by the
board of PRIME Cymru.
Rlsk management
The Trustees have examlned the major risks which the charity faces and malntain a formal risk reglster which is
revlewed quarterly. Systems have been established to enable the Trustees to recelve regular reports 50 that
necessary steps can be taken to lessen those risks.
In the event that further grants are not forthcoming then there Is a risk that the charity may cease operations.
The Trustees wlll be taking further steps in the coming year to secure the future of the charlty. The Trustees,
havlng revlewed the charlty and Its systems, have concluded that thls constitutes the maln rlsk to the charlty.
REFERENCE AND ADMINISTRATIVE DETAILS
Reglstered Company number
4187497 {En8land and Wales)
Page 5

Prlme C
mru
Re
ort of the Trustees
for the Year Ended 31st Mar
h 2024
Reglstered Charlty number
1140129
Reglstered offlce
Mile End House
9 Broad Street
Llandovery
Carmarthenshlre
SA20 OAR
Trustees
Mrs S E Flnne8an-Dehn (Chalr of Trustees)
Mr A D Morgan Ireslgned 10.11.231
Mr B C Birtles
Mrs A M V Graham Paul (resi8ned 10.11.231
Dr S Phllllps
Mrs V Leyshon Ireslgned 26.07.241
Ms E Marks
Mr S M West (resigned 18.04.241
Mr M Curties (appointed 26,07.24)
Mrs F J Jones (appolnted 26.07.241
Mr R O'Keefe {appolnted 26.07.241
Company Secretary
Mr D J Pugh (Chlef Executlvel
Audltors
Ashmole & Co (Statutory Audltorl
Chartered Certlfled Accountants & Reglstered
Auditors
9 Broad Street
Llandovery
Carmarthenshlre
SA20 OAR
Bankers
Lloyds Bank
38 Hlgh Street
Brecon
Powys
LD3 7AR
Page 6

Prime C
mru
ort of the Trustees
for the Year Ended 31st March 2024
REFERENCE AND ADMINISTRATIVE DETAILS
Sollcltors
Berry Smlth
Haywood House
DumfrSes Place
Cardiff
Investment Advlsers
Walker Crlps
128 Queen Vlctorla Street
London
EC4V4BJ
STATEMENT OF TRUSTEES. RESPONSIBILITIES
The trustees {who are also the directors of Prlme Cymru for the purposes of company law) are responslble for
preparlng the Report of the Trustees and the flnanclal statements In accordance wlth appllcable law and
United Klngdom Accountlng Standards Iunlted KlnBdom Generally Accepted Accountlng Practice).
Company law requires the trustees to prepare financial statements for each financial year which Blve a true
and falr vlew of the state of affalrs of the charltable company and of the Incomlng resources and appllcatlon of
resources, Includln8 the income and expenditure, of the charltable company for that perlod. In preparlng those
flnanclal statements, the trustees are requlred to
select sultable accountlng pollcles and then apply them con515tentlyi
observe the methods and prlnciples In the Charlty SORP;
makeludgements and estlmates that are reasonable and prudent;
prepare the flnanclal statements on the goln8 concern basis unless It Is Inapproprlate to presume that the
charitable company wlll contlnue In buslness.
The trustees are responsible for keeping proper accountlng records which disclose wlth reasonable accuracy at
any tlme the flnanclal positlon of the charltable company and to enable them to ensure that the flnanclal
statements comply with the Companies Act 2006. They are also responsible for safe8uardin8 the assets of the
charltable company and hence for taklng reasonable steps for the preventlon and detectlon of fraud and other
Irre8ularitles.
In so far as the trustees are aware:
there Is no relevant audlt Information of which the charltable company's auditors are unaware,. and
the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant
audit Informatlon and to establlsh that the audltors are aware of that Information.
AUDITORS
The auditors, Ashmole & Co (Statutory Audltorl, will be proposed for re-appointment at the forthcomlng
Annual General Meetlng.
Page 7

Prlme
ort of the Trustees
r the Year Ended 31st March 2024
Approved by order of the board of trustees on ......
and signed on its behalf by:
Mrs S E Finne8an-Dehn- Trus
Page 8

Re
ort of the Inde
endent Audltors to the Trustees of
Prlme
Oplnlon
We have audited the financial statements of Prime Cymru (the 'charitable company'l for the year ended
31st March 2024 which comprise the Statement of Financial Activitie5, the Balance Sheet and notes to the
financlal statements, includlng a summary of significant accountin8 policies. The financlal reporting framework
that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United
Kin8dorn Generally Accepted Accountlng Practice).
In our oplnlon the financlal statements:
glve a true and fair vlew of the state of the charitable company's affalrs as at 31st March 2024 and of Its
Incomln8 resources and appllcatlon of resources, Includlng Its Income and expendlture, for the year then
ended;
have been properly prepared In accordance wlth Unlted Klngdom Generally Accepted Accountlng Practlce,.
and
have been prepared In accordance wSth the requlrements of the CompanlesAct 2006.
Basls for oplnlon
We conducted our audlt In accordance with Internatlonal Standards on Auditing {UK) IISAS (UK)) and applicable
law. Our responsibillties under those standards are further described in the Auditors, re5ponsibilitles for the
audit of the financlal statements sectlon of our report. We are Independent of the charitable company In
accordance wlth the ethical requirements that are relevant to our audlt of the flnancial statements In the UK,
Includlng the FRC'S Ethlcal Standard, and the provlslons avallable for small entltles, In the clrcumstances set out
In note 21 to the financial statements, and we have fulfilled our other ethical responsibllitles In accordance
wlth these requlrements. We belleve that the audit evldence we have obtalned Is sufflclent and approprlate to
provide a basis for our oplnlon.
Concluslons relatln8 to golng concern
In avdltlng the flnanclal statements, we have concluded that the trustees, use of the 8oln8 concern basls of
accounting In the preparatlon of the flnanclal statements Is approprlate.
Based on the work we have performed, we have not Identlfled any materlal uncertalntles relatlng to events or
condltlons that, indlvldually or collectivelyi may cast sl8nSflcant doubt on the charltable company's abillty to
contlnue as a golng concern for a perlod of at least twelve months from when the financlal statements are
authorlsed for Issue.
Our responsibS1ities and the responsibilltles of the trustees with respect to going concern are described in the
relevant sections of thls report.
Page 9

ort of the Inde
endent Auditors to the Trustees of
Prlme
Other Informatlon
The trustees are responslble for the other information. The other Information comprises the information
Included in the Annual Report, other than the financlal statements and our Report of the Independent Auditors
thereon.
Our opinlon on the financial statements does not cover the other informatlon and, except to the extent
otherwlse explScltly stated in our report, we do not express any form of assurance conclusion thereon.
In connectlon wlth our audlt of the flnanclal statements, our responslblllty Is to read the other Informatlon
and, in doing so, consider whether the other Informatlon is materlally Inconslstent with the flnancial
Statements or our knowled8e obtalned In the audlt or otherwlse appears to be materially misstated. If we
Identlfy such materlal inconslstencles or apparent material mlsstatements, we are requlred to determlne
whether thls gives rise to a materlal mlsstatement In the financlal statements themselves. If, based on the
work we have performed, we conclude that there Is a materlal mlsstatement of thls other Informatlon, we are
requlred to report that fact. We have nothlng to report in this regard.
Matters on whlch we are requlred to report by exceptlon
We have nothlng to report in respect of the following matters where the Charltles (Accounts and Reports)
Regulations 2008 requires us to report to you if, In our opinlon:
the Informatlon 8Sven In the Report of the Trustees Is Inconslstent In any materlal respect wlth the flnanclal
statements; or
the charltable company has not kept adequate accountlng records,. or
the flnancial statements are not in agreement with the accountlng records and returns; or
we have not recelved all the Informatlon and explanatlons we requlre for our audlt.
Responslbllltles of trustees
As explalned more fully In the Statement of Trustees, Responslbllltles, the trustees (who are also the dlrectors
of the charitable company for the purposes of company lawl are responslble for the preparatlon of the
flnanclal statements and for belng satlsfled that they glve a true and falr vlew, and for such Intern31 control as
the trustees determlne Is necessary to enable the preparatlon of flnanclal statements that are free from
materlal mlsstatement, whether due to fraud or error.
In preparlng the financlal statements, the trustees are responslble for assesslng the charitable company's
ability to continue as a going concern, disclosin8, as applicable, matters related to going concern and using the
golng concern basls of accountlng unless the trustees elther Intend to liquldate the charitable company or to
cease operatlons, or have no realistic alternative but to do so.
Page 10

ort of the Inde
endent Auditors to the Trustees of
Prlme C
mru
Our responslbllltle5 forthe audlt ol the flnanclal statements
We have been appointed as auditors under Section 144 of the Charities Act 2011 and report In accordance
wlth the Act and relevant regulations made or having effect thereunder.
Our objectlves are to obtaln reasonable assurance about whether the financlal statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Audltors
that Includes our oplnion. Reasonable assurance Is a hlgh level of assurance, but Is not a guarantee that an
audlt conducted In accordance with ISAS IUKI w511 always detect a material mlsstatement when It exlsts.
Mlsstatements can arlse from fraud or error and are consldered materlal If, Sndlvldually or In the a88regate,
they could reasonably be expected to influence the economlc declslons of users taken on the basls of these
flnancial statements.
The extent to whlch our procedures are capable of detectlng Irregularltles, Includlng fraud is detalled below..
In Identifying and assessin8 rlsks of material misstatement In respect of Irregularities, includlng fraud and
non-compliance with laws and regulations, we considered the following:
nature of the charlty and the sector In whlch It operates.
the le8al and regulatory framework in which the charity operates, and in particular those law5 and re8ulations
that dlrectly affect the flnancial statements or have a fundamental effect on operatlons eg Charltles Act 2011,
health and safety legislation.
results of enquirSes of management and those char8ed wlth governance
any matters identified relating to
the charlty's pollcles and procedure5 for Sdentlfylng, evaluatlng and complylng wlth laws and re8ulatlons, and
whether there were any known Instances of non compllance.
detectln8 and respondlng to the r15k5 of fraud and whether there Is any knowledge of actual, suspected or
alleged fraud.
the internal contro15 establlshed to mltl8ate rlsks of fraud or non compllance wlth laws and re8ulatlons.
As a result of performln8 the above, we dSd not IdentSfy any key audlt matters related to potentlal rlsk of fraud
or non compllance wlth laws and regulatlons.
In addltlon to the above, our procedures Included..
revlewing the financial statement disclosures and testlng to supportin8 documentation to assess compllance
wlth relevant laws and regulatlons
enquires of management and those charged with governance concernlng actual and potential litl8ation and
clalms
performlng analytical procedures to identify any unusual or unexpected relatlonships that may Indlcate rlsks
of material misstatement due to fraud
review of minutes of committee meetings
wrltten representations
A further description of our responsibllltles for the audit of the financial statements is located on the Financial
Reportlng Councll's website at www.frc.org.uk/audltorsresponslbllltles. Thls descrlption forms part of our
Report ofthe Independent Auditors.
Page 11

Re
ort of the Inde
endent Audltors to the Trustees of
Prlme
Use of our report
This report is made solely to the charitable company's trustee5, as a body. In accordance with Part 4 of the
Charltles (Accounts and Reports) Re8ulatlons 2008. Our audit work has been undertaken so that we might
state to the charitable company's trustees those matters we are required to state to them in an auditors,
report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume
responsibility to anyone other than the charitable company and the charitable company's trustees as a body,
for our audlt work, for thls report, or for the oplnlons we have formed.
Ashmole & Co (Statutory Audltor)
Chartered Certlfled Accountants & Re8lStered
Audltors
Eligible to act as an audltor In terms of Section 1212 of the Companies Act 2006
9 Broad Street
Llandovery
Carrnarthenshlre
SA20 OAR
IL
Page 12

Prlme
Statement of Flnancial Activitles
for the Year Ended 31st March 2024
31.3.24
Total
funds
31.3.23
Total
funds
Unrestricted
funds
Restricted
funds
Notes
INCOME AND ENDOWMENTS FROM
Donatlons and legacles
6,998
6,998
504,624
Charltable actlvltles
General Charltable Actlvltles
30,000
30,000
343,265
Investment Income
11,353
11,353
6,186
Total
18,351
30,000
48,351
854,075
EXPENDITURE ON
Ralslng funds
380
Charltable artlvltles
General Charitable Activities
460,356
30,000
490,356
528,506
Other
1,338
1,338
1,262
Total
461,694
30,000
491,694
530,148,,,
Net galns/(10sses) on Investments
2,449
2,449
129,279)
NEf INCOME/IEXPENDITURE)
1440,8941
1440,894)
294,648
RECONCILIATION OF FUNDS
Total funds brou8ht forward
788,321
788,321
493,673
TOTAL FUNDS CARRIED FORWARD
347,427
347,427
788,321
The notes form part of these financial statements
Page 13

Prlme
Balance Sheet
315t March 2024
31,3.24
31.3.23
Notes
FIXED ASSETS
Tan8Sble assets
Investments
13
14
2,678
198,971
1,098
192,469
201,649
193,567
CURRENT ASSETS
Debtors
Cash at bank
15
7,196
156,870
9,892
603,229
164,066
613,121
CREDITORS
Amounts falling due withln one year
16
118,288)
{18,3671
NET CURRENT ASSETS
145,778
594,754
TOTAL ASSETS LESS CURRENT LIABILITIES
347,427
788,321
NET ASSETS
347,427
788,321
FUNDS
Unrestricted funds
19
347,427
788,321
TOTAL FUNDS
347,427
788,321
The charitable company Is entitled to exemption from audlt under Section 477 of the Companles Act 2006 for
the year ended 31st March 2024.
The members have not deposlted notlce, pursuant to Sectlon 476 of the Companles Act 2006 requlrlng an
audit of these financlal statement5.
The notes form part of these flnancial statement5
Page 14
continued..,

Prlme
Balance Sheet- contlnued
31st March 2024
The trustees acknowledge their responsibllities for
ensuring that the charitable company keeps accountlng records that comply with Sections 386 and 387
ofthe Companies Act 2006 and
preparing financlal statements which give a true and fair view of the state of affalrs of the charitable
company as at the end of each financial year and of its surplus or deficit for each flnancial year in
accordance wlth the requlrements of Sectlons 394 and 395 and which otherwlse comply with the
requirements of the Companles Act 2006 relating to flnanclal statements, 50 far as applicable to the
charltable company.
Ib)
These financlal statements have been audlted under the requlrements of Sectlon 145 of the Charltles Act 2011.
These flnanclal statements have been prepared In accordance wlth the provlslons appllcable to charitable
companles subject to the small companles regime.
The f
clal tate
ents were approved by the Board of Trustees and authorised for Issue on
and were signed on Its behalf by..
Mrs S E Flnnegan-Dehn- Tru
Ms E Marks- Trustee
The notes form part of these financial statements
Page IS

Prlme
Notes to the Flnanclal Statements
for the Year Ended 315t March 2024
ACCOUNTING POLICIES
Basls of preparlng the flnanclal statements
The financial statements of the charitable companyi which Is a public beneflt entity under FRS 102, have
been prepared in accordance with the Charities SORP (FRS 1021 'Accounting and Reportin8 by Charities.,
Statement of Recommended Practlce appllcable to charltles preparlng thelr accounts In accordance
with the Flnancial Reportlng Standard appllcable In the UK and Republlc of Ireland IFRS 1021 {effectlve I
January 2019),, Flnanclal Reportlng Standard 102 'The Flnanclal Reportlng Standard appllcable In the UK
and Republic of Ireland, and the Companle5 Act 2006. The flnanclal statements have been prepared
under the historical c05t convention, wlth the exceptlon of investments which are Included at market
value.
Income
All income Is recognised in the Statement of Flnancial Activities once the charity has entitlement to the
funds, It Is probable that the income will be recelved and the amount can be rneasured rellably.
Expendlture
Llabilities are recognlsed as expenditure as soon as there Is a legal or constructive obllgation commlttlng
the charity to that expendlture, It Is probable that a transfer of economlc beneflts w511 be requlred In
settlement and the amount of the obligation can be measured rellably. Expendlture is accounted for on
an accruals basls and has been classlfled under headlngs that a88re8ate all cost related to the category,
Where costs cannot be directly attributed to partlcular headln8S they have been allocated to activities
on a ba515 conslstent wlth the use of resources.
Allocatlon of Costs
All costs are allocated between the expendlture cate8orles of the Statement of Flnanclal Activltles on a
basis deslgned to reflect the use of the resource. Costs relatlng to a partlcular activlty are allocated
dlrectly and support costs are apportloned on an approprlate basls eg staff tlme spent on each actlvity.
Tan8lble flxed assets
Depreciation is provlded at the followin8 annual rates in order to write off each asset over its estlmated
useful Ilfe.
Exhlbltlon equlpment
Flxtures and f ittings
Offlce equipment
33% on cost
20% on cost
25% on cost
Taxatlon
The charity is exempt from corporation tax on its charltable activities.
Fund accountln
Funds held by the charity are elther:
Unrestricted general funds - these can be used in accordance with the charitable objectlves at the
dlscretlon of the trustees.
Page 16
continued...

Prlme
Notes to the Financlal Statements - contlnued
for the Year Ended 31st March 2024
ACCOUNTING POLICIES - contlnued
Fund accountln8
Deslgnated funds these are funds set aside by the trustees out of unrestrlcted general funds for
specific future purposes or projects.
Restrlcted funds these can only be used for partlcular restrlcted purposes within the oblects of the
charlty. Restrlctlons arlse when speclfled by the donor or when funds are ralsed for partlcular restrlcted
purposes.
Further explanatlon of the nature and purpose of each fund Is Included In the notes to the flnanclal
statements.
Penslon costs and other post-retlrement beneflts
The charitable company operates a defined contributlon penslon scheme. Contributlons payable to the
charitable company's penslon scheme are charged to the Statement of Financial Activities in the period
to which they relate.
Investments
Investments are stated at market value at the balance sheet date. The Statement of Financlal Actlvitles
Includes the net galns and losses arislng on revaluatlons and dlsposals throughout the year.
Grants recelvable
Grant and servlce level a8reement Income are only reco8nlsed In the Statement of Flnanclal
Actlvitles when the general Income reco8nitlon criterla are met. In the case of performance
related 8rants, Income15 only reco8nised to the extent that the charity has provlded the speclfled
800ds and servlces.
Capltal grants are recorded In the Statement of Flnanclal Actlvltles In the year of recelpt.
DONATIONS AND LEGACIES
31.3.24
31.3.23
Donatlons
Grants
6,998
4,624
500,000
6,998
504,624
Fundin8 from the Moondance Foundatlon will be received In 3 instalments of £500,000 each. The
instalment for the flnanclal year ended 31 March 2024 was received In March 2023 and was therefore
shown In the financial statements for the year ended 31 March 2023 and carried forward wlthin closing
funds accordinglv.
The instalment for the financial year ended 31 March 2025 was received In April 2024.
Page 17
continued...

Prlme
Notes to the Flnancial Statements - contlnued
for the Year Ended 31st March 2024
DONATIONS AND LEGACIES- contlnued
Grant$
Unrestricted
funds
Restrlcted
funds
31.3.24
31.3.23
Moondance
500,000
500,000
Donatlons
Donatlons & glfts
6,998
6,998
4,624
6,998
6,998
4,624
Total
6,998
6,998
504,624
INVESTMENT INCOME
31.3.24
31.3.23
Dep051t account Interest
Investment account Income
6,325
5,028
86
6,100
11,353
6,186
Pa8e 18
contlnued...

Prlme
Notes to the Flnanclal Statements - contlnued
for the Year Ended 31st March 2024
INCOME FROM CHARITABLE ACflVITIES
31.3.24
31.3.23
General
Charitable
Activities
TotalActlvltles TotalActlvltles
WCVA 26882
WCVA 27400
WCVA 27908
WCVA 26984
WCVA 29703
Prlnce of Wales Charlty Foundatlon
38,718
44,355
42,732
12,425
140,035
65,000
30,000
30,ociI
30,000
30,CNJO
343,265
RAISING FUNDS
Other tradlng actlvltles
31.3.24
31.3.23
L055 on wrlte down of assets
380
CHARITABLE ACTIVITIES COSTS
Dlrect
Costs (see
note 7)
Support
costs (see
note 81
Totals
General Charltable Activities
437,811
52,545
490,356
Page 19
continued...

Prlme
Notes to the Flnanclal Statements- contlnued
for the Year Ended 31st March 2024
DIRECT COSTS OF CHARITABLE AcfiviTIES
31.3.24
31.3.23
Staff costs
Travelling
Accommodatlon & subslstence
Meeting facilitles
Tralnlng & workshops
411,152
22,889
2,907
509
354
459,163
23,711
2,795
670
786
437,811
487,125
SUPPORT COSTS
Governance
costs
Management
Finance
Totals
Other resources expended
General Charitable Activities
1,338
47,841
1,338
52,545
144
4,560
49,179
144
4,560
53,883
Support costs, Included In the above, are as follows..
Management
31.3.24
31.3.23
Other
resources
expended
General
Charitable
Actlvitles
Total
actlvitles
Total
actlvltles
Rent, rates and water
Insurance
Light and heat
Telephone
Postage and stationery
Marketlng
Sundries
Subscriptions
Computer & website costs
Repairs & renewals
Depreciation of tanglble and herltage
assets
10,960
4,567
3,415
8,300
1,327
1,850
1,087
2,255
4,431
764
10,960
4,567
3,415
8,300
1,327
1,850
1,087
2,255
4,431
764
9,794
2,928
3,112
7,181
2,373
533
4,428
2,707
1,461
1,338
1,338
1,262
Carried forward
1,338
38,956
40,294
35,779
Page 20
continued...

Prlme
mru
Notes to the Financlal Statements- contlnued
for the Year Ended 31st March 2024
SUPPORT COSTS- contlnued
Management- contlnued
31.3.24
31.3.23
Other
resources
expended
General
Charitable
Actlvltles
Total
actlvltles
Total
actlvStles
Brought forward
Investment management fees
Professlonal fees
1,338
38,956
975
7,910
40,294
975
7,910
35,779
1,616
1,338
47,841
49,179
37,395
Flnance
31.3,24
General
Charltable
Actlvltles
31.3.23
Total
actSvltles
Bank charges
144
648
Governance costs
31.3.24
General
Charitable
Actlvltles
31.3.23
Total
actlvltles
Audltors, remuneratlon
Accountancy and le8al fees
3,560
1,000
4,600
4,560
4,600
Page 21
contlnued...

Prlme C
mru
Notes to the Flnanclal Statements- contlnued
forthe Year Ended 31st March 2024
NET INCOME/IEXPENDITURE)
Net incomellexpenditurel is Stated after chargin￿{crediting).
31.3.24
31.3.23
Auditors, remuneratlon
Depreclatlon - owned assets
Deflclt on di5P05al of fixed assets
Penslon Costs
3,560
1,338
4,600
1,262
380
19,826
22,800
10. TRUSTEES. REMUNERATION AND BENEFITS
During the year, a gift was presented to a long standlng trustee upon retirement as gratitude for
servlces amountin8 to £63.30.
Trustees, expenses
The charlty Incurred £204.40 of expenses to one trustee In respect of travel and accommodation
expenses durlng the year ended 31 March 2024 {2023: £132.90).
11. STAFF COSTS
Staff Costs
31.3.24
31.3.23
Wa8es & Salarles
Soclal Securlty
Penslon
356,862
31,490
22,800
403,442
35,895
19,826
411,152
459,163
The average monthly number of employees durlng the year was as follows:
31.3.24
31.3.23
Chief Executive
Director of Operations
Finance Manager
Project Manager
Admlnlstratlon and Human Resources
Development Officers
Communlcatlons Co-ordlnator
li
13
Page 22
contlnued...

Prlme
Notes to the Financlal Statements - continued
or the Year Ended 31st March 2024
ii.
STAFF COSTS - contlnued
The number of employee5 whose employee benefits (excluding employer pension costs} exceeded
£60,000 was:
31.3.24
31.3.23
£80,001- £90,000
£90,001- £100,000
Durlng the year penslon contributlons on behalf of these staff amounted to £9,625.
12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcfiviTIES
Unrestrlcted Restrlcted
funds
funds
Total
funds
INCOME AND ENDOWMENTS FROM
Donatlons and legacie5
504,624
504,624
Charltable actlvltles
General Charitable Actlvltles
343,265
343,265
Investment Income
6,186
6,186
Total
510,810
343,265
854,075
EXPENDITURE ON
Raislng funds
380
380
Charltable artlvltles
General Charltable Actlvltles
146,926
381,580
528,506
Other
1,042
220
1,262
Total
148,348
381,800
530,148
Net galns/llosses} on investments
129,2791
{29,279)
NET INCOME/(EXPENDITURE)
333,183
{38,535)
294,648
Page 23
continued...

Prlme
Notes to the Flnancial Statements- contlnued
for the Year Ended 31st March 2024
12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcfiviTIES . contlnued
Unrestricted
funds
Restrlcted
funds
Total
funds
RECONCILIATION OF FUNDS
Total funds brought forward
455,138
38,535
493,673
TOTAL FUNDS CARRIED FORWARD
788,321
788,321
13. TANGIBLE FIXED ASSETS
Flxtures
and
flttlngs
Exhibition
equipment
Offlce
equlpment
Totals
COST
At 1st Aprll 2023
Addltions
6,024
9,954
13,340
2,918
29,318
2,918
At 31st March 2024
6,024
9,954
16,258
32,236
DEPRECIATION
At 1st Aprll 2023
Char8e for year
6,024
9,530
212
12,666
1,126
28,220
1,338
At 31st March 2024
6,024
9,742
13,792
29,558
NET BOOK VALUE
At 31st March 2024
212
2,466
2,678
At 31st March 2023
424
674
1,098
Page 24
continued...

Prlme C
mru
Notes to the Flnanclal Statements- continued
for the Year Ended 31st March 2024
14. FIXED ASSET INVESTMENTS
Cash and
settlements
pendlng
Listed
Investments
Totals
MARKET VALUE
At 1st Aprll 2023
Addltlons
Olsposals
210,198
6,930
18,2061
6,436
11,733
17,9051
216,634
18,663
{16,1111
At 31st March 2024
208,922
10,264
219,186
PROVISIONS
At 1st Aprll 2023
Revaluation provision for year
Ellminated on disposal
24,165
13,0021
19481
24,165
13,002}
{9481
At 31st March 2024
20,215
20,215
NET 800K VALUE
At 31st March 2024
188,707
10,264
198,971
At 31st March 2023
186,033
6,436
192,469
There were no Investment assets outslde the UK.
IS. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3,24
31.3.23
Trade debtors
Other debtors
Prepayments
1,176
1,800
4,220
3,276
1,800
4,816
7,196
9,892
Page 25
contlnued..,

Prlme
mr
Notes to the Flnancial Statements - contlnued
for the Year Ended 31st March 2024
16. CREDITORS; AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24
31.3.23
Trade creditors
Social security and other taxes
Accrued expenses
3,089
9,230
5,969
3,147
8,988
6,232
18,288
18,367
17. LEASING AGREEMENTS
Mlnlmum lease payments under non-cancellable operatln8 leases fall due as follows:
31.3.24
31.3.23
Within one year
Between one and flve years
10,750
10,750
10,750
21,500
21,500
32,250
18. ANALYSIS OF NET ASSETS BETWEEN FUNDS
31.3,24
Total
funds
31.3.23
Total
funds
Unrestrlcted
funds
Restrlcted
funds
Flxed assets
Investments
Current assets
Current Ilabllltles
2,678
198,971
164,066
(18,288)
2,678
198,971
164,066
118,288}
1,098
192,469
613,121
(18,367)
347,427
347,427
788,321
Page 26
continued...

Prlme
Notes to the Flnanclal Statements- contlnued
for the Year Ended 31st March 2024
19. MOVEMENT IN FUNDS
Net
movement
in funds
At
31.3.24
At 1.4.23
Unrestrlcted funds
General fund
Moondance
Deslgnated Walker Crlps Investment
Fund
95,852
500,000
11,655
(459,051
107,507
40,949
192,469
6,502
198,971
788,321
{440,8941
347,427
TOTAL FUNDS
788,321
(440,8941
347,427
Net movement In funds, Included In the above are as follows..
Incomln8
resources
Resovrces
expended
Galns and
losses
Movement
In funds
Unrestrl¢ted funds
General fund
Moondance
Des5gnated Walker Crlps Investment
Fund
13,323
11,668}
1459,0511
11,655
1459,051)
5,028
19751
2,449
6,502
18,351
1461,6941
2,449
1440,8941
Re5trl¢ted funds
Prlnce of Wales Charity Foundatlon
30,000
130,0001
TOTAL FUNDS
48,351
1491,6941
2,449
1440,8941
Page 27
contlnued.,.

Prlme C
mru
Notes to the Financial Statements- contlnued
for the Year Ended 31st March 2024
19. MOVEMENT IN FUNDS- contlnued
Comparatlves for movement In funds
Net
movement
In funds
Transfers
between
funds
At
31.3.23
At 1.4.22
Unrestrlcted funds
General fund
Moondance
Deslgnated Walker Crlps Investment
Fund
127,874
140,000
12,0221
360,000
130,0001
95,852
500,000
187,264
(24,7951
30,000
192,469
455,138
333,183
788,321
Restrlcted funds
Powys County Councll
WCVA 23997 Bridgend, NPT, Rhondda,
Caerphllly, Denblghshlre, etc.
Prince of Wales Charlty Fund-
Rebranding Grant
WCVA 24282 Prlme People Plus
Wales Councll for Voluntary Actlon
20
1201
178
11781
1,000
62
37,275
(1,0001
1621
(37,2751
38,535
138,5351
TOTAL FUNDS
493,673
294,648
788,321
Page 28
continued..,

Prime
Notes to the Flnancial Statements- contlnued
for the Year Ended 31st March 2024
19. MOVEMENT IN FUNDS- contlnued
Comparative net movement in funds, included In the above are as follows:
Incoming
resources
Resources
expended
Gains and
losses
Movement
in funds
Unrestrlcted funds
General fund
Moondance
Designated Walker Crlps Investment
Fund
4,710
500,000
16,7321
(140,0001
12,022)
360,000
6,100
11,6161
129,279}
124,7951
510,810
{148,3481
129,2791
333,183
Re5trlcted funds
Powys County Councll
WCVA 23997 Brldgend, NPT, Rhondda,
Caerphilly, Denblghshlre, etc.
Prlnce of Wales Charlty Foundatlon
1201
120)
11781
11781
65,000
165,0001
Prlnce of Wales Charlty Fund-
Rebrandlng Grant
WCVA 24282 Prlme People Plus
WCVA 26882 Prlme People East
Wales Councll for Voluntary Actlon-
Prlme People West
Wales Councll for Voluntary Actlon-
Prlme People West 2
Wales Councll for Voluntary Actlon
Wales Councll for Voluntary Action -
Prlme People West 3
(1,000
161)
{38,7181
(1,000)
162)
(i)
38,718
44,355
144,3551
42,732
12,425
142,7321
149,7001
{37,2751
140,036
{140,0361
343,265
1381,8001
138,535)
TOTAL FUNDS
854,075
1530,1481
{29,2791
294,648
Page 29
contlnued...

Prlme
mru
Notes to the Flnanclal Statements- contlnued
for the Year Ended 31st March 2024
19. MOVEMENT IN FUNDS- contlnued
A current year 12 months and prior year 12 months comblned position is as follows:
Net
movement
In funds
Transfers
between
funds
At
31.3.24
At 1.4.22
Unrestrl¢ted funds
General fund
Moondance
Designated Walker Crlps Investment
Fund
127,874
140,000
9,633
199,0511
130,0001
107,507
40,949
187,264
(18,2931
30,000
198,971
455,138
1107,7111
347,427
Restrlcted funds
Powys County Councll
WCVA 23997 Bridgend, NPT, Rhondda,
Caerphllly, Denblghshlre, etc.
Prince of Wales Charlty Fund-
Rebrandln8 Grant
WCVA 24282 Prlme People Plus
Wales Councll for Voluntary Actlon
20
1201
178
11781
1,000
62
37,275
(1,0001
1621
(37,2751
38,535
138,5351
TOTAL FUNDS
493,673
1146,2461
347,427
Page 30
continued...

Prlme
Notes to the Flnancial Statements- continued
for the Year Ended 31st March 2024
19. MOVEMENT IN FUNDS- contlnued
A current year 12 months and prior year 12 months combined net movement in funds, included In the
above are as follows:
Incomln8
resources
Resources
expended
Galns and
1055es
Movement
in funds
Unrestrl¢ted funds
General fund
Moondance
Designated Walker Crlps Investment
Fund
18,033
500,000
18,4001
1599,0511
9,633
(99,0511
11,128
{2,5911
126,830)
(18,2931
529,161
{610,0421
126,830}
{107,7111
Restrlcted fund$
Powys County Councll
WCVA 23997 Bridgend, NPT, Rhondda,
Caerphllly, Denblghshlre, etc.
Prince of Wales Charlty Foundatlon
1201
120)
11781
{178)
95,000
195,(QO)
Prlnce of Wale5 Char5ty Fund -
Rebrandlng Grant
WCVA 24282 PrSme People Plus
WCVA 26882 Prlme People East
Wales Councll for Voluntary Actlon -
Prlme People West
Wales Councll for Voluntary Actlon .
Prlme People West 2
Wales Council for Voluntary Actlon
Wales Council for Voluntary Actlon-
Prime People West 3
{I,0001
1611
(38,7181
11,0001
1621
38,718
44,355
(44,3551
42,732
12,425
142,7321
149,7001
{37,275)
140,036
{140,0361
373,265
1411,8001
138,5351
TOTAL FUNDS
902,426
(1,021,842)
126,8301
{146,2461
Page 31
continued...

Prlme C
mru
Notes to the Flnanclal Statements . contlnued
for the Year Ended 31st March 2024
20. RELATED PARIY DISCLOSURES
There were no related party transactions for the year ended 31st March 2024.
21. FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES
In common wlth many other buslnesses of our slze and nature we use our audltors to prepare and
submlt returns to the tax authorltles and asslst wlth the preparatlon of the financlal statements.
22. RESTRICTED FUND5
Prlnce of Wales Charltable Foundatlon Thls grant was restrlcted to coverlng costs related to the
dellvery of the PRIME Cymru Volunteer Mentorlng Programme throu8hout Wales.
Page 32