OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2025-03-31-accounts

REGISTERED COMPANY NUMBER: 07549533 (England and Wales) REGISTERED CHARITY NUMBER: 1141143

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 FOR INTERLINK RCT

Bevan Buckland LLP (Statutory Auditors) Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA? 9LA

INTERLINK RCT

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Page
Repor of the Trustees 1
**to8 **
Repor of the Independent Auditors 9
to11
Statement of Financial Activities 12
Balance Sheet 13
Cash Flow Statement 14
Notes to the Cash Flow Statement 15
Notes to the Flnancial Statements 16
to26
Detailed Statement of Financial Activities 27
to28

INTERLINK RCT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2025

The trustees present their report along with the financial statements for the year ended 31 March 2025 This report has been prepared in accordance with the Section 419(2) of the Companies Act 2006. The financial statements have been prepared in accordance with the accounting policies on page 16 and comply with the Charity's constitution and applicable law.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Interlink RCT is a members-led charity focused on creating connected, resourceful and sustainable communities; where people develop trust, respect and understanding, have good health and can access the resources they need. By encouraging people and communities to recognise and work with the assets the community already has - such as its people, buildings and land - communities can act on what really matters.

CONSTITUTION AND OBJECTS

The original constitution of Interlink was adopted on 23 January 1997 amended by special resolution on 26 March 1998 and further amended at a special General Meeting on 20 September 2001 and is a registered charity. The objects of the Charity are the promotion of any charitable purpose for the benefit of the community in the County Borough of Rhondda Cynon Tat and surrounding area as defined in the Local Government (Wales) Act 1994. Following a special resolution at the Annual General Meeting (AGM) on the 1st December 2010, the charity adopted new memorandum and articles and became incorporated as a Company Limited by Guarantee on the 2nd March 2011. The new charity was registered with the Charity Commission on the 4th April 2011, as amended by special resolution on 25th November 2015. Further changes were registered as amended March 2023 to reflect changes in the charity's objectives, as amended in November 2023 to reflect a change from co-opted to non-member trustees.

Interlink RCT's updated charitable objectives were approved at the AGM in November 2022 after being pre-approved by the Charity Commission. Interlink RCT's charity objects were changed from,

'The objects for which the Charity is established are to promote any charitable purpose for the benefit of the community in the County Borough of Rhondda Cynon Taff, as defined in the Local Government (Wales) Act 1994, and surrounding areas (hereinafter referred to as 'the area of benefit').'

to,

'The charity objects are specifically restricted to the following:

(1) To promote any charitable purposes for the benefit of the public, for the benefit of the community in the County Borough of Rhondda Cynon Taff, as defined in the Local Government (Wales) Act 1994, and surrounding areas (hereinafter referred to as 'the area of benefit'), and in particular but not exclusively, build the capacity of third sector organisations and provide them with the necessary support, information and services to enable them to pursue or contribute to any such charitable purpose.

(2) To promote, organise and facilitate co-operation and partnership working between third sector, statutory and other relevant bodies in the achievement of the above purposes within the area of benefit, and to that end to bring together into membership of the Charity persons and organisations engaged in the furtherance of the said purposes within the area of benefit.'

TRUSTEES

The trustees in office during the period and at the date of this report are set out above (p1 ). Trustees are elected for a term of three years at the Annual General Meeting by the membership and are required to sign a declaration of their eligibility to serve. Trustees have taken responsibility for monitoring the Charity's activities through the Executive Committee.

The constitution was amended to move toward non-member trustees to serve for three years with the same voting rights as member trustees to replace coopted trustees that served for a one-year term. Non-member Directors will be appointed in the same way as member Directors and under the same terms and voting rights as member Directors. The number of non-member directors shall be not more than three, including non- member Directors. The Trustee Handbook was amended to reflect these changes and to state only one Officer's role can be filled by a non-member trustee at any one time.

INDUCTION AND TRAINING PROCEDURES

All trustees are offered training in respect of trustee roles and responsibilities and are required to attend an induction session with another trustee after the annual meeting as part of trustee mentoring using a buddy system. Trustees are offered a range of opportunities throughout the year to develop their knowledge and skills to effectively fulfil their role and a skills audit used to assess and address gaps.

Page 1

INTERLINK RCT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

RISK REVIEW

The Trustees have conducted their own review of the major risks to which the charity is exposed, and systems including a risk register established to mitigate those risks. Internal risks are minimised by effective management of the Charity's activities and the implementation of budgetary and financial procedures, which are subject to regular review in Trustee meetings to ensure that they still meet the needs of the Charity. Interlink RCT trustees had to continue to address the challenges it and its members face with increasing costs, a cost-of-living crisis and more competition for grants while experiencing increasing demand to deliver services to support local people and communities. Despite these circumstances, Interlink holds sufficient Charity reserves that provide scope to trustees to invest in priority areas in 2025/26. Interlink RCTs main areas of work continue to focus on:

o Community Advice and Support - providing information, advice, training and funding to support volunteers and community and voluntary organisations.

o Volunteering - supporting volunteers and volunteer organisations.

o Wellbeing - finding out what matters to individuals and communities, and working in partnership to provide information, advice and support.

o Involving people and communities - supporting people, volunteers, and community and voluntary organisations to be listened to and involved, to act and to influence those things that matter to them.

Interlink RCT is a member of Third Sector Support Wales who provide a universal service across Wales based on supporting the following four pillars:

o Volunteering

o Good Governance

o Thriving and Sustainable Third Sector o Influencing and Strategic Engagement

Our vision

We believe that volunteering and community action will lead to connected, resourceful and sustainable communities, where people are treated fairly, have good health and have the resources they need. We believe in supporting communities to be connected, resourceful and sustainable.

Connected

Communities have a greater impact when volunteers, informal and formal community and voluntary organisations and partners are connected and work together towards shared goals.

Resourceful

When communities have the power and resources to lead, they quickly find ways to work together using what they have to overcome difficulties, seek new opportunities and take action.

Sustainable

Sustainable communities develop where everyone has the opportunity to be involved, connected and valued for the contribution they make to the wellbeing of their community.

Our mission

To work with others to understand and build on the strengths of local people and communities to address what matters.

Our Values and Principles

PUBLIC BENEFIT

The trustees confirm they have complied with their duty in section 17(5) of the Charities Act 2011 to have due regard for public benefit. The objects for which the Charity is established are to promote any charitable purpose for the benefit of the community in the County Borough of Rhondda Cynon Taf and surrounding area. The achievements of the Charity in meeting these objects between 1st April 2024 to 31st March 2025 have been summarised in this report. Interlink increased its membership from 537 to 641 in this period. The focus of public benefit during the year was supporting community and voluntary organisations, promoting volunteering, and supporting members with their role in promoting health and wellbeing in local communities.

Page 2

INTERLINK RCT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

ACHIEVEMENTS AND PERFORMANCE APRIL 2024 TO MARCH 2025

SUPPORTING COMMUNITY AND VOLUNTARY GROUPS - OUR MEMBERS

The Community Advice Team had a busy year supporting volunteering and, community and voluntary groups across Rhondda Cynon Taf. The Team gets each group the support and advice they need with the peer support programme. Interlink pays for peer-to-peer advice between community and voluntary organisations with the payment going to the host organisation of the person providing the peer support, investing in and providing support to our members through our members. The Team successfully managed 489 requests for support covering funding, volunteering, governance and engagement. Through support from Graig Fatha Co-op, community and voluntary groups have been able to access our Community Grants Programme to deliver activities covering wellbeing, older people, children and young people; acting in climate change; supporting energy efficiency in community run facilities and support with the cost-of-living crisis.

Grant Funding and Support

Interlink RCT supported over 44 groups secure grants worth over £1,299,500 to support local community groups and activities and and support the groups and the communities they serve with the cost of living. Through work together as part of the RCT Funding and Support Steering Group, groups benefit from 'wrap around' support that goes beyond funding and provides access to a broad range of support. Key partners and funders of our work include Welsh Government, RCTCBC and Pen Y Cymoedd Community Wind Farm CIC and Graig Falha Co-op. For example, we worked closely with RCTCBC to deliver Shared Prosperity Fund on-line webinars to raise awareness of and access these important funds. We value the funding available to groups from incredible funders such as The Moondance Foundation, the Big Lottery and Coalfields Regeneration Trust.

Our internal grants programme administered 143 grants totalling £245,475 through the following funds:

This funding supported an incredible community response from Interlink community and voluntary sector members to support people of all ages and abilities throughout RCT to reduce the impact of the cost-of-living crisis, improve wellbeing and contribute to local action on the impacts of climate change.

Connect RCT

Connect RCT has continued to grow and develop to include 68 new volunteer opportunities and over 900 new members during the year and is the only place to go to find out about community activities, events, groups and volunteer opportunities throughout RCT.

Training, Networks and Events

Interlink held 42 sessions, engaging 1200 participants, consisting of:

Climate Change and Energy Efficiency

Interlink carried out a range of work linked to sustainability and climate change including supporting the successful RCT Climate Action Network Events with funding from Cwm Taf Morgannwg Public Service Board. A successful partnership with Pen Y Cymoedd Wind Farm CIC, Coalfields Regeneration Trust and RCTCBC provided free Energy Efficiency Audits and follow-up grants to community buildings to reduce their energy bills and carbon f tprint.

Page 3

INTERLINK RCT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Volunteering

Volunteers continued to provide a vast and diverse range of essential support in every community in RCT. This was particularly true in winter as people and community and voluntary groups faced rising heating bills, food costs and other essential items. Through small grants, groups were able to cover their heating bills, volunteer expenses, purchase f d for the community and were able to open longer and more often to provide people with the support they needed. Other highlights included:

Page4

INTERLINK RCT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

ACHIEVEMENTS AND PERFORMANCE HEAL TH AND WELLBEING

The Wellbeing Coordination Service

Interlinks Wellbeing Coordinators provide support to people to address their non-medical needs through referring people to community activities and services provided by community and voluntary groups. This year, partnership working continued to develop with the Council's RCT Together Team and other partners resulting in better and more timely support for people throughout RCT. The Wellbeing Team continued to identify, promote and support community and voluntary groups. There were some challenges with capacity due to a huge increase in winter referrals for fuel and food poverty.

There were 2769 referrals to the Wellbeing Coordination Service, with 1756 referrals to community support. In total, the team provided 22,448 hours of support and recorded 4163 occasions when people were signposted to the exceptional and diverse range of support provided by local groups. The Wellbeing Coordination Service is funded by Welsh Government through the Regional Integration Fund (RIF).

Highlights include:

Building Stronger Bridges

lnterlink's Deputy Chief Executive led on health and wellbeing, facilitated a Health and Social Care Network and worked closely with RCTCBC Together and Cwm Taf University Health Board on a wide range of partnership activities.

Highlights included:

Mental Health Involvement and Development

The Mental Health Involvement and Development Officer worked with people with lived experience and community and voluntary groups in RCT and with colleagues in the region. Interlink continued to support the Cwm Taf Morgannwg Mental Health Forum and work with CTM University Health Board on several projects to involve and gather the view of people who have used mental health services and refer people into community activities and services.

Equality, Diversity and Inclusion

Interlink appointed a member of staff as the Equality Diversity and Inclusion (EDI) Champion to lead on Cultural Competency Scheme certification, achieving a Silver Plus Award. The role developed to include develop Welsh language skills and staff improving their Welsh language skills attended the National Eisteddfod 2024 in Ynysangharad Park.. Interlink and WCVA hosed a community and voluntary sector Hwb, with members joining us to celebrate the event and the rich culture of exceptional local groups active across RCT. Interlink staff took part in Race Equality Week's 5 Day Challenge providing information around topics including Inclusive Language. EDI support for our members included referring groups to the specialist support available in the sector, for example, training in understanding neurodiversity and supporting groups with an adoptable EDI Policy

Page 5

INTERLINK RCT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

FINANCIAL REVIEW

Principal Funding Sources

Principal funding sources include Welsh Government, Cwm Taf Morgannwg University Health Board, the Cwm Taf Morgannwg Regional Partnership Board, Rhondda Cynon Taf County Borough Council, Pen y Cymoedd Wind Farm Community Fund CIC and Graig Fatha Co-op.

Results

Total resources expended exceeded incoming resources by £141,191. After transfers, the unrestricted funds reported a surplus of £51,942. The performance of the charity has exceeded expectations in such a difficult and uncertain economic climate. The level of available reserves, ie. the total unrestricted reserves less amounts invested in fixed assets and designated reserves amounted to £675,212.

Reserves Policy

The reserves policy is reviewed annually by the Executive Committee and the Financial and Resources Sub Group in line with lnterlink's business and financial planning process. The trustees have examined the charity's requirements for reserves in light of the main risks of the organisation using a risk assessment process and taken action to reduce the major risks faced by the charity. The trustees have built up reserves equivalent to over six months operational costs, to cover, amongst other considerations, potential redundancy costs, as nearly all lnterlink's income is approved on a 12-month basis and the charity needs to manage the risk of losing large contracts at short notice.

The investment portfolio reduced during the last quarter of 2023/24 due to market turbulence and the trustees will take further advice on how to maximise our income while keeping within our low risk and strict ethical requirements. The Executive Committee has forecasted that because of the significant challenges faced by Interlink and its members, those reserves have been used in 2024-25 to invest in our internal capacity, strategic objectives and support our members.

Page6

INTERLINK RCT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

FUTURE PLANS

Strategic Objectives 2025-2028

Interlink RCT will work alongside our members, the community and voluntary sector (the Sector) to build their capacity to act on what matters to them and the volunteers and communities they support. We will work as an integrated team and use technology to support our members to:

To achieve this, we will:

What we will change

What we believe:

What will help us to achieve out outcomes?

This work contributes to our long-term outcome, 'The community and voluntary sector are sustainably resourced and valued by the community, decision-makers, and funders, with the skills and capacity to evidence the difference they make to community wellbeing.'

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

Interlink operates under rules defined by its governing documents, both as a charity, as defined by the Charities Act, 2011; and limited company limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

07549533 (England and Wales)

Registered Charity number

1141143

Registered office Glenview House Courthouse Street Pontypridd Rhondda Cynon Taff CF371JY

Page 7

INTERLINK RCT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Trustees

Janet Whiteman Alison Theaker Lisa Wills Steve Davis Richard Flowerdew Richard Walters Katy Thomas Richard Cox Simone Devinett Joanne Baldock Pauline Richards Non-Member Trustees Dilys Jouvenat Tony Hendrickson

New Horizons Mental Health Chair Vice Chair until Jan '25 Eye to Eye Counselling Service Treasurer Arts Factory Spectacle Theatre Secretary RCT Scouts Gilfach Goch Community Association Mothers Matter Ategi RHA Wales/ Beacon Cymru Heol Chwarae Roi/Role Play Lane Valleys Kids To Feb '25

Auditors

Bevan Buckland LLP (Statutory Auditors) Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA? 9LA

Bankers

HSBC Bank Pie 10 Portland Street SWANSEA SA13DF

STATEMENT OF TRUSTEES' RESPONSIBILITIES

Company and charitable law require the Executive Board to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing those financial statements, the management committee should follow best practice and:

The Executive Board is responsible for maintaining proper accounting records, which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ascertain to ensure that the financial statements comply with the Companies Act 2006. The Management Committee is also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Members of the Executive Board

Members of the Executive Board, who are directors for the purpose of company law and trustees for the purpose of charity law, who served during the year and up to the date of this report are set out on page 1 .

In accordance with company law, as the company's directors, we certify that: -so far as we are aware, there is no relevant audit information of which the company's auditors are unaware; and as the directors of the company, we have taken all the necessary steps in order to make ourselves aware of any relevant audit information and to establish that the charity's auditors re aware of that information. Approved by order of the board of trustees on ... S. ... /[1 ] .. '. ..... \·,J.:_C?_l-.5 ..... and signed on its behalf by:

Ms J Whiteman - Trustee

Page 8

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF INTERLINK RCT

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Use of our report Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members 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 charitablecompany's members as a body, for our audit work, for this report, or for the opinions we have formed.

Henry Uoy - vies enior Statutory Auditor) for and on behalf of Bevan Buckland LLP (Statutory Auditors) Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA Date: ... s.1.�.�.1..� .................. .

Page 11

INTERLINK RCT

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

2025 2024
Unrestricted Restricted Total Total
funds funds funds funds
Notes £ £ £ £
INCOME AND ENDOWMENTS FROM
Charitable activities 4
Grants and contracts 439,952 746,110 1,186,062 1,480,026
Other trading activities 2 2,500
Investment income 3 25,464 25,464 25,826
Other income 3,603 3,603 10,069
Total 469,019 746,110 1,215,129 1,518,421
EXPENDITURE ON
Raising funds 5 4,409 4,409 4,177
Charitable activities 6
Charitable activities 401,650 939,487 1,341,137 1,181,483
Total 406,059 939,487 1,345,546 1,185,660
Net gains/(losses) on investments (10,774) (10,774) 38,534
NET INCOME/(EXPENDITURE)
Transfers beteen funds		 18 52,186
(244)		 (193,377)
244		 (141,191) 371,295
Net movement in funds 51,942 (193,133) (141,191) 371,295
RECONCILIATION OF FUNDS
Total funds brought frard 1,047,520 518,879 1,566,399 1,195,104
TOTAL FUNDS CARRIED FORWARD 1,099,462 325,746 1,425,208 1,566,399

The notes form part of these financial statements

Page 12

INTERLINK RCT

BALANCE SHEET 31 MARCH 2025

2025 2024
Unrestricted Restricted Total Total
funds funds funds funds
Notes £ £ £
FIXED ASSETS
Investments 13 414,792 414,792 418,718
CURRENT ASSETS
Debtors 14 152,707 36,307 189,014 136,586
Investments 15 85,000 85,000
Cash at bank and in hand 482,519 286,047 768,566 1,053,958
720,226 322,354 1,042,580 1,190,544
CREDITORS
Amounts flling due within one year 16 (45,014) (647) (45,661) (42,863)
NET CURRENT ASSETS 675,212 321,707 996,919 1,147,681
TOTAL ASSETS LESS CURRENT LIABILITIES 1,090,004 321,707 1,411,711 1,566,399
NET ASSETS 1,090,004 321,707 1,411,711 1,566,399
FUNDS 18
Unrestricted funds 1,090,004 1,047,520
Restricted funds 321,707 518,879
TOTAL FUNDS 1,411,711 1,566,399

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

5th November 2025 The financial statements were approved by the Board of Trustees and authorised for issue on and were signed on its behalf by:

1 C_ \ v�{'l,,l/ "--- _. ___

J Whiteman - Trustee

LA Wills - Trustee

The notes form part of these financial statements

Page 13

INTERLINK RCT

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025

2025 2024
Notes £ £
Cash fows from operating activities
Cash generated from operations (218,408) 235,084
Interest paid (600)
Net cash (used in)/provided by operating activities (219,008) 235,084
Cash fows from investing activities
Purchase of fixed asset investments (80,124) (80,463)
Purchase of current asset investments (85,000)
Sale of fixed asset investments 73,276 68,431
Interest received 16,142 17,504
Dividends received 9,322 8,322
Net cash (used in)/provided by investing activities (66,384) 13,794
Change in cash and cash equivalents in
the reporing period		 (285,392) 248,878
Cash and cash equivalents at the
beginning of the reporing period 1,053,958 805,080
Cash and cash equivalents at the end of
the reporing period 768,566 1,053,958

The notes form part of these financial statements

Page 14

INTERLINK RCT

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2025		 NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2025
1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERTING ACTIVITIES
2025 2024
£ £
Net (expendlture)/income for the reporing period (as per the Statement
of Financial Activities) (154,688) 371,295
Adjustments for:
Depreciation charges 1,426
Losses/(gain) on investments 10,774 (38,534)
Interest received (16,142) (17,504)
Interest paid 600
Dividends received (9,322) (8,322)
Increase in debtors (52,428) (66,568)
lncrease/(decrease) in creditors 2,798 (6,709)
Net cash (used in)/provided by operations (218,408) 235,084
2. ANALYSIS OF CHANGES IN NET FUNDS
At 1.4.24 Cash flow At 31.3.25
£ £ £
Net cash
Cash at bank and in hand 1,053,958 (285,392) 768,566
1,053,958 (285,392) 768,566
Liquid resources
Deposits included in cash
Current asset investments 85,000 85,000
85,000 85,000
Total 1,053,958 (200,392) 853,566

The notes form part of these financial statements

Page 15

INTERLINK RCT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Grants are only included in the SoFA when the general income recognition criteria are met.

In the case of performance related grants, income must only be recognised to the extent that the charity has provided the specified goods or services, as entitlement to the grant only occurs when the performance related conditions are met. Grants receivable are treated in different ways dependent upon their purposes and the terms of the grant.

Grants receivable for the specific purpose of purchasing fixed assets for the continued use of the charity are treated as restricted funds. The restricted funds is then reduced by amounts equivalent to the depreciation charges on the assets concerned and will continue to do so over the expected useful lives of the assets concerned.

Grants receivable to facilitate the general running of the charity are treated as unrestricted funds.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Allocation and apportionment of costs

Costs are allocated against grants they relate to. Where restricted funds have outstanding amounts which relate to core expenditure, these are transferred to core.

Tangible fixed assets

Fixed assets are stated at cost less accumulated depreciation. The costs of minor additions costing below £1,000 are not capitalied.

Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life as follows:

Leasehold property Straight line over length of lease Fixtures, fittings and equipment 25% Straight line

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

continued ...

Page 16

INTERLINK RCT

NOTES TO THE FINANCIAL STATEMENTS· continued FOR THE YEAR ENDED 31 MARCH 2025

1. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financialinstruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Donated services

In accordance with the charities SORP (FRS 102), the general volunteer time provided to the charitable company is not recognised and refer to the trustees' report for more information about their contribution.

Costs of raising funds

The costs of raising funds consist of investment management costs and certain legal fees.

Expenditure on charitable activities

Expenditure on charitable activities include grants made, governance and support costs.

Realised gains and losses

All gains and losses are taken to the statement of financial activities as they arise. Realised gains and losses on investment are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and the carrying value. Realised and unrealised investment gains and losses are combined in the statement of financial activities.

Leasing

Rentals applicable to operating leases are charged to the statement of financial activities over the period in which the cost is incurred.

Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the activities of the charity. These costs have been allocated between cost of raising funds and expenditure on charitable activates.

Pension

The charity operates a defined contribution pension scheme for employees. The asset of the scheme are held separately from those of the charity. The annual contributions payable are charged to the statements of financial activities.

Page 17

continued ...

INTERLINK RCT

NOTES TO THE FINANCIAL STATEMENTS· continued FOR THE YEAR ENDED 31 MARCH 2025

2. OTHER TRADING ACTIVITIES

2. OTHER TRADING ACTIVITIES
2025 2024
£ £
Consultancy and training 2,500
3. INVESTMENT INCOME
2025 2024
£ £
Other fixedassetinvest - FIi 9,322 8,322
Deposit account interest 15,971 17,260
Interest on cash deposits 171 244
25,464 25,826
4. INCOME FROM CHARITABLE ACTIVITIES
2025 2024
Activity £ £
Grants Grants and contracts 1,186,062 1,480,026
Grants received, included in the above, are as follows:
2025 2024
£ £
WG (WCVA) TSSW Grant 296,888 248,252
WG (WCVA) Youth-led Grant Scheme 7,000 6,650
RCT County Borough Council 71,990 71,900
CTMUHB (BSB / Core)
Grants Administered fr other Organisations		 61,441
90,500		 21,458
90,500
Building Communities Trust Penywaun
RIF Wellbeing Coordination Serice		 471,156 102,454
574,443
Mental Health Projects 81,861
ICF Small Capital Grant 6,000
Penycymoedd Community Wind
Cwm Taf Public Serice Board		 Farm CIC 13,976
31,803		 48,416
23,803
Ripple Energy Community Benefit Fund 29,095 287,150
Institute of Leadership 5,000
UKG SPF RCTCBC Community Grant 6,750
VAMT Management Fee - Dementia Care Grant 3,750
Cwm Taf3P's 3,000
Tonyrefil Community
RIF Funding fr Regional Commissioning Event		 8,852
2,000
1,186,062 1,480,026

Page 18

continued ...

INTERLINK RCT

NOTES TO THE FINANCIAL STATEMENTS· continued FOR THE YEAR ENDED 31 MARCH 2025

5. RAISING FUNDS

Investment management costs

2025 2024
£ £
Porolio management 4,409 4,177
6. CHARITABLE ACTIVITIES COSTS
Support
Direct costs (see
Costs note 7) Totals
£ £ £
Charitable activities 1,320,220 20,917 1,341,137
7. SUPPORT COSTS
Support
Management Other 2 costs Totals
£ £ £ £
Charitable activities 9,807 600 10,510 20,917
--- ---

8. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated afer charging/(crediting):
2025 2024
£ £
Auditors' remuneration 10,510 9,175
Depreciation - owned assets 1,426
--- ---

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees'expenses

There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.

10. STAFF COSTS

STAFF COSTS
2025 2024
Gross wages and salaries
Social secrity costs		 £693,190
£69,733		 £628,367
£62,917
Pension costs £56,178 £50,797
£819,101 £742,081
The average monthly number of employees during the year was as follows:
2025 2024
Employees 23 22
No employees received emoluments in excess of £60,000.

Page 19

continued ...

INTERLINK RCT

NOTES TO THE FINANCIAL STATEMENTS• continued FOR THE YEAR ENDED 31 MARCH 2025

10. STAFF COSTS· continued

Management team of the charity are made up of the Chief Executive Officer, Deputy Chief Executive Officer, Business and Finance Manager, Community Advice team manager and Wellbeing Services Manager totalling £211,947.

There were no volunteers during the year.

11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Charitable activities
Grants and contracts
396,677
Other trading activities
2,500
Investment income
25,826
Other income
10,069
Total
435,072
EXPENDITURE ON
Raising funds
4,177
Charitable activities
Charitable activities
442,898
Total
447,075
Net gains on investments
38,534
NET INCOME
26,531
RECONCILIATION OF FUNDS
Total funds brought forard
1,020,989
TOTAL FUNDS CARRIED FORWARD
1,047,520
12.
TANGIBLE FIXED ASSETS
Fixtures
and
ftings
£
COST
At 1 April 2024 and 31 March 2025
53,542
DEPRECIATION
At 1 April 2024 and 31 March 2025
53,542
NET BOOK VALUE
At 31 March 2025
At 31 March 2024
---
Page 20		 Restricted
Total
funds
funds
£
£
1,083,349
1,480,026
2,500
25,826
10,069
1,083,349
1,518,421
4,177
738,585
1,181,483
738,585
1,185,660
38,534
344,764
371,295
174,115
1,195,104
518,879
1,566,399
Computer
equipment
Totals
£
£
5,701
59,243
5,701
59,243
---
---
continued ...

Page 20

INTERLINK RCT

NOTES TO THE FINANCIAL STATEMENTS• continued FOR THE YEAR ENDED 31 MARCH 2025

13. FIXED ASSET INVESTMENTS

FIXED ASSET INVESTMENTS
Listed
investments
£
MARKET VALUE
At 1 April 2024 418,718
Additions 80,124
Disposals (71,874)
Revaluations (12,176)
At 31 March 2025 414,792
NET BOOK VALUE
At 31 March 2025 414,792
At 31 March 2024 418,718
There were no investment assets outside the UK.
Cost or valuation at 31 March 2025 is represented by:
Listed
investments
£
Valuation in 2021 16,953
Valuation in 2023 (22,253)
Valuation in 2024 50,566
Valuation in 2025 (3,926)
Cost 373,452
414,792

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.

The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub-sectors.

14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£ £
Other debtors 149,995 71,675
Prepayments and accrued income 39,019 64,911
189,014 136,586

continued ...

Page 21

INTERLINK RCT

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

15. CURRENT ASSET INVESTMENTS

15. CURRENT ASSET INVESTMENTS
2025 2024
£ £
Other 85,000
16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£ £
Trade creditors 864 2,671
Social security and other taxes 14,031 15,656
Other creditors 4,092
Accrued expenses 30,766 20,444
45,661 42,863
--

17. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025 2024
£ £
Within one year
Beteen one and five years		 4,043
2,210
6,253
--
18. MOVEMENT IN FUNDS
Net Transfers
movement between At
At 1.4.24 in funds funds 31.3.25
£ £ £ £
Unrestricted funds
Core 1,047,520 42,728 (244) 1,090,004
Restricted funds
CTMUHB (Building Strong Bridges/Core)
Grants Administered fr other organisations		 10,449
7,308		 4,934
(2,925)		 15,383
4,383
Building Communities Trust Penywaun 70,656 (70,656)
Graig and Penycoedcae Community Fund 72 1,000 1,072
ICF Grants 20,005 6,000 26,005
RIF Wellbeing Coordination Serice 137,767 (26,522) 111,245
Mental Health Digital Inclusion Grant 11,734 11,734
Mental Health
Cwm Tat Public Serice Board (Climate		 45,067 (4,089) 40,978
Action) 35,803 12,099 47,902
Ripple Energy Community Benefit Fund 169,018 (121,210) 47,808
Amser Carers Trust Grant 6,000 4,270 10,270
Institute of Leadership 5,000 (2,637) 2,363
WCVA: Youth Led Grant 2,320 244 2,564
518,879 (197,416) 244 321,707
TOTAL FUNDS 1,566,399 (154,688) 1,411,711

continued ...

Page 22

INTERLINK RCT

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

18. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming
Resources
Gains and
resources
expended
losses
£
£
£
Unrestricted funds
Core
469,019
(415,517)
(10,774)
Restricted funds
CTMUHB (Building Strong Bridges/Core)
44,848
(39,914)
Grants Administered fr other organisations
2,500
(5,425)
Building Communities Trust Penywaun
(70,656)
Graig and Penycoedcae Community Fund
1,000
ICF Grants
6,000
RIF Wellbeing Coordination Serice
471,156
(497,678)
Mental Health
81,861
(85,950)
Cwm Taf Public Serice Board (Climate
Action)
16,000
(3,901)
Ripple Energy Community Benefit Fund
29,095
(150,305)
Amser Carers Trust Grant
88,000
(83,730)
Institute of Leadership
(2,637)
WCVA: Youth Led Grant
6,650
(4,330)
746,110
(943,526)
TOTAL FUNDS
1,215,129
(1,359,043)
(10,774)		 Movement
in funds
£
42,728
4,934
(2,925)
(70,656)
1,000
6,000
(26,522)
(4,089)
12,099
(121,210)
4,270
(2,637)
2,320
(197,416)
(154,688)

Comparatives for movement in funds

Comparatives for movement in funds
Net
movement At
At 1.4.23 in funds 31.3.24
£ £ £
Unrestricted funds
Core 1,020,989 26,531 1,047,520
Restricted funds
CTMUHB (Building Strong Bridges/Core)
Grants Administered fr other organisations		 5,548 10,449
1,760		 10,449
7,308
Building Communities Trust Penywaun 79,246 (8,590) 70,656
Graig and Penycoedcae Community Fund 10,515 (10,443) 72
ICF Grants
RIF Wellbeing Coordination Serice		 20,005
33,094		 104,673 20,005
137,767
Mental Health Digital Inclusion Grant 13,707 (1,973) 11,734
Mental Health
Cwm Taf Public Serice Board (Climate		 45,067 45,067
Action) 12,000 23,803 35,803
Ripple Energy Community Benefit Fund 169,018 169,018
Amser Carers Trust Grant 6,000 6,000
Institute of Leadership 5,000 5,000
174,115 344,764 518,879
TOTAL FUNDS 1,195,104 371,295 1,566,399

Page 23

continued ...

INTERLINK RCT

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025

18. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming
Resources
resources
expended
£
£
Unrestricted funds
Core
435,072
(447,075)
Restricted funds
CTMUHB (Building Strong Bridges/Core)
38,136
(27,687)
Grants Administered for other organisations
2,500
(740)
Building Communities Trust Penywaun
102,454
(111,044)
Graig and Penycoedcae Community Fund
(10,443)
RIF Wellbeing Coordination Serice
448,720
(344,047)
Mental Health Digital Inclusion Grant
(1,973)
Mental Health
87,586
(42,519)
Cwm Taf Public Serice Board (Climate
Action)
23,803
Ripple Energy Community Benefit Fund
287,150
(118,132)
Amser Carers Trust Grant
88,000
(82,000)
Institute of Leadership
5,000
1,083,349
(738,585)
TOTAL FUNDS
1,518,421
(1,185,660)
A current year 12 months and prior year 12 months combined position is as fllows:
Net
movement
At 1.4.23
in funds
£
£
Unrestricted funds
Core
1,020,989
69,259
Restricted funds
CTMUHB (Building Strong Bridges/Core)
15,383
Grants Administered fr other organisations
5,548
(1,165)
Building Communities Trust Penywaun
79,246
(79,246)
Graig and Penycoedcae Community Fund
10,515
(9,443)
ICF Grants
20,005
6,000
RIF Wellbeing Coordination Serice
33,094
78,151
Mental Health Digital Inclusion Grant
13,707
(1,973)
Mental Health
40,978
Cwm Taf Public Serice Board (Climate
Action)
12,000
35,902
Ripple Energy Community Benefit Fund
47,808
Amser Carers Trust Grant
10,270
Institute of Leadership
2,363
WCVA: Youth Led Grant
2,320
174,115
147,348
TOTAL FUNDS
1,195,104
216,607		 Gains and
losses
£
38,534
38,534
Transfers
between
funds
£
(244)
244
244		 Movement
in funds
£
26,531
10,449
1,760
(8,590)
(10,443)
104,673
(1,973)
45,067
23,803
169,018
6,000
5,000
344,764
371,295
At
31.3.25
£
1,090,004
15,383
4,383
1,072
26,005
111,245
11,734
40,978
47,902
47,808
10,270
2,363
2,564
321,707
1,411,711

Page 24

continued ...

INTERLINK RCT

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

18. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
Core
Restricted funds
CTMUHB (Building Strong Bridges/Core)
Grants Administered fr other organisations
Building Communities Trust Penywaun
Graig and Penycoedcae Community Fund
ICF Grants
RIF Wellbeing Coordination Serice
Mental Health Digital Inclusion Grant
Mental Health
Cwm Taf Public Serice Board (Climate
Action)
Ripple Energy Community Benefit Fund
Amser Carers Trust Grant
Institute of Leadership
WCVA: Youth Led Grant
TOTAL FUNDS		 Incoming
Resources
Gains and
Movement
resources
expended
losses
in funds
£
£
£
£
904,091
(862,592)
27,760
69,259
82,984
(67,601)
15,383
5,000
(6,165)
(1,165)
102,454
(181,700)
(79,246)
(9,443)
(9,443)
6,000
6,000
919,876
(841,725)
78,151
(1,973)
(1,973)
169,447
(128,469)
40,978
39,803
(3,901)
35,902
316,245
(268,437)
47,808
176,000
(165,730)
10,270
5,000
(2,637)
2,363
6,650
(4,330)
2,320
1,829,459
(1,682,111)
147,348
2,733,550
(2,544,703)
27,760
216,607

Transfers between funds

During the year a review of the restricted funds took place. As a result of this review it was identified that one brought forward fund was incorrect, as a result of this we have corrected it by doing a transfer between unrestricted and restricted as shown on Note 17.

19. RELATED PARTY DISCLOSURES

Due to the nature of the organisation and its members and trustees being drawn from a wide range of local organisations, it is inevitable that transactions will take place with organisations in which a member / trustee of the organisation may have an interest.

20. RESTRICTED FUNDS

Welsh Government - Third Sector Support Wales

Interlink receives funding from Welsh Government through WCVA to provide support, advice and training to community and voluntary groups and volunteers under the pillars of sustainable funding, good governance, engagement and influence, and volunteering.

Welsh Government Regional Investment Fund - Cwm Taf Morgannwg Regional Partnership Board

This funding enables Interlink to employ a team of Wellbeing Coordinators to work with throughout RCT, including with GP Practices and health and social care professionals to assist people to find support to address their social, emotional and/or practical needs, working closely with community and voluntary groups and other partners.

Cwm Taf Morgannwg University Health Board (CTMUHB) - Building Strong Bridges and Core

Page 25

continued ...

INTERLINK RCT

NOTES TO THE FINANCIAL STATEMENTS· continued FOR THE YEAR ENDED 31 MARCH 2025

20. RESTRICTED FUNDS • continued

Along with a core grant. this service level agreement with CTMUHB enables Interlink to involve and represent community and voluntary organisations in working in partnership with the Cwm Taf Morgannwg University Health Board to support and involve the Sector and identify opportunities. It supports Interlink in its role to provide advice, information and networking opportunities to enable community and voluntary organisations to fully contribute to improving health, social care and wellbeing. Interlink received an additional amount for a scoping paper on the potential for CVCs to support the Welsh Government's Promote, Prevent and Prepare for Planned Care (the 3 P's) initiative.

Cwm Taf Morgannwg University Health Board (CTMUHB) - Mental Health Involvement and Coordination Interlink delivers a service level agreement involving people with lived experience and community and voluntary groups to work in partnership with the Health Board to co-design, develop and improve mental health services.

Rhondda Cynon Taf County Borough Council (RCTCBC).

Interlink delivers a service level agreement to support community and voluntary groups, promote volunteering and provide local services working alongside RCTCBC and RCT Together including involving members in the Health Determinants Research Collaborative.

Pen y Cymoedd Windfarm Community Fund CIC

Interlink receives funding to support the Community Advice Team work with partners to deliver advice and support to community and voluntary organisations in the Pen y Cymoedd Windfarm Community Fund area.

Cwm Taf Public Service Board

Interlink RCT received support from Cwm Taf Public Service Board to identify and promote those community and voluntary organisations taking action on climate change, working alongside RCT Climate Action Network (RCTCAN).

Welsh Government Youth-led Grant Scheme

This is a youth-led grant scheme, funded annually through WCVA from the Welsh Government, administered by Interlink. Applications were made to Young People's Panel who award grants to youth-led projects to support young people's volunteering.

GRANTS ON BEHALF OF OTHER ORGANISATIONS

Small Grants - Graig Fatha Community Coop Limited

This community benefit fund provides small grants to community and voluntary groups to improve health and wellbeing, tackle climate change and help with the cost of living. This is funded by community benefit payments from Graig Falha Community Coop (via Ripple Energy) related to the Graig Fatha Wind Farm.

Carers Trust Wales Amser Grant Scheme

Interlink RCT received funding from Carers Trust Wales for a community grant scheme to increase the availability and accessibility of short breaks for unpaid carers across Rhondda Cynon Taf and Merthyr Tydfil.

The Taff Ely Wind Farm Community Fund

The Fund allowed Interlink to provide small grants in the area of benefit of the wind farm operated by Ventient Energy Limited.

The Graig and Penycoedcae Community Fund

The Fund allowed Interlink to provide small grants related to the community benefit payments from a small solar farm.

Invest Local, Penywaun

Interlink acted as the grant recipient body for the Penywaun Invest Local Group, employing a Community Development Officer to support the groups address local priorities. Invest Local is managed by Building Communities Trust (BCT). Interlink RCT is no longer the recipient body for this project; spend reports have been finalised and any monies not spent have been returned to BCT.

Page 26

INTERLINK RCT

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

2025 2024
£ £
INCOME AND ENDOWMENTS
Other trading activities
Consultancy and training 2,500
Investment income
Other fixed asset invest - FIi 9,322 8,322
Deposit account interest 15,971 17,260
Interest on cash deposits 171 244
25,464 25,826
Charitable activities
Grants 1,186,062 1,480,026
Other income
Other Income 3,603 1,978
Simon CEO wages 8,091
3,603 10,069
Total incoming resources 1,215,129 1,518,421
EXPENDITURE
Investment management costs
Porolio management		 4,409 4,177
Charitable activities
Wages 718,962 628,367
Social security 69,733 62,917
Pensions 56,178 50,797
Insurance 7,904 6,579
Telephone 7,348 12,666
Postage and stationery 7,744 6,805
Advertising 11,209 3,678
Premises expenses
WG Covid 19 Recover		 13,732 12,452
1,973
Grants Paid 146,137 118,132
Travel and subsistence 6,503 4,524
Training and Events 40,132 30,309
Computer cost 47,681 30,173
Grants for other organisations 37,031 740
Pen y Waun 60,303 98,878
Consultancy
Recritment Costs		 4,017
1,529		 2,760
209
Graig & Penycoedcae Community (1,000) 10,443
Amser Carers Trust 80,004 82,000
Bank charges 68 524
Vol Factor grants 5,005 5,956
Computer equipment 1,426
1,320,220 1,172,308

This page does not form part of the statutory financial statements

Page 27

INTERLINK RCT

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

2025 2024
£ £
Suppor costs
Management
Sundries 9,807
Other 2
Hmrc Charges 600
Suppor costs
Auditors' remuneration 10,510 9,175
Total resources expended 1,345,546 1,185,660
Net (expenditure)/income before gains and
losses (130,417) 332,761
Realised recognised gains and losses
Realised gains/(losses) on fxed asset investments		 (10,774) 38,534
Net (expenditure)/income (141,191) 371,295

This page does not form part of the statutory financial statements

Page 28