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2023-03-31-accounts

REGISTERED COMPANY NUMBER: 07628816 (England and Wales) REGISTERED CHARITY NUMBER: 1143732

Report of the Trustees and

Financial Statements for the Year Ended 31 March 2023

For

Cymdeithas Gofal The Care Society

Cymdeithas Gofal The Care Society Contents of the Financial Statements for the Year Ended 31 March 2023

Page
Reference and Administrative Details 3
Chairman’s Report and Executive Directors Report 4
Report to the Trustees 5-9
Report of the Independent Auditors 10-12
Statement of Financial Activities 13
Statement of Financial Position 14
Statement of Cash Flows 15
Notes to the Statement of Cash Flows 16
Notes to the Financial Statements 17-31
Detailed Statement of Financial Activities 32-33

Page 2

Cymdeithas Gofal The Care Society Reference and Administrative Details for the Year Ended 31 March 2023

TRUSTEES Anthony P Hearn – Chair John Rees - Vice Chair Catherine Shaw Peter Saunders Margaret Gallagher Stephen Cripps Ceri Williams (resigned 24/3/2023) Annette Jones (appointed 26/7/2022) REGISTERED OFFICE 21 Terrace Road Aberystwyth Ceredigion SY23 1NP

REGISTERED COMPANY NUMBER 07628816 (England and Wales) REGISTERED CHARITY NUMBER 1143732 AUDITOR Beever and Struthers 20 Colmore Circus Queensway Birmingham B4 6AT

BANKERS

Unity Trust Bank PLC Nine Brindley Place Birmingham B1 2HB Executive Director Guy Hamilton Evans

Page 3

Cymdeithas Gofal The Care Society Chairman’s & Executive Director’s Reports for the Year Ended 31 March 2023

Chairman’s Report

The Care Society continues to provide essential services to people living in mid-Wales, supporting people who have no permanent place to call home, and helping others to remain independent in their homes. This work is often challenging, and we owe a huge debt of gratitude to our incredible colleagues who regularly go well beyond what we ask of them to ensure they deliver the right services and get the best outcomes possible. We are so proud of you all.

The cost-of-living crisis has naturally had a huge impact on the people we support and the teams have worked really hard to help alleviate this where there can by working in greater partnership with other agencies and providers to ensure no-one feels on their own.

The business has continued to grow in strength and in the past year we have reached a couple of important milestones. Firstly, we were able to meet our financial reserves policy which will help with the longer-term sustainability of the Care Society. And secondly that good performance has enabled us to not only invest in physical resources like a long overdue replacement for our van, but also in our people by ensuring that all our colleagues are now paid at least The Real Living Wage and have an improved pension offering.

Getting The Care Society into this stable position has been the primary long-term ambition for the Board. So, the Board are planning to meet later this year to evaluate the journey we have been on and with the support of stakeholders, we would like to develop a strategy for the forthcoming years that will enable us to further strengthen this position.

I would like to thank the Board and colleagues of the wider Barcud Group for their continued support and dedication to the success of The Care Society and express my thanks to The Care Society Leadership Team for the support they provide to the Board whilst carrying their roles with such compassion and determination.

A P Hearn Chair

Executive Director’s Report

2022 / 2023 has been another busy year for The Care Society delivering services in a challenging economic environment and deep cutting cost of living crisis. The unprecedented increases in fuel and food prices hitting the most vulnerable members of our communities often on limited incomes.

The Introduction and Implementation of The Renting Homes Bill has had a significant impact on the local private rented housing market. I am grateful to the Care Society Staff for preparing Occupational Contracts and ensuring property compliance. Regrettably a number of Landlords have left the market which has reduced the availability of affordable suitable accommodation and increased rental levels.

The demand and need for Care Society services continues to rise. This will be evidenced by The Care Society’s Impact Assessment Report 2022 / 2023 which will be available to download from The Care Society Website – https://caresociety.org.uk

Our Care Society Staff continue to ‘go the extra mile’ delivering 24 hour services 365 days of the year. In view of this I am pleased that The Care Society is now a living wage employer.

The Care Society retains financial stability and its reputation has continued to grow over the period of this report. The Care Society continues to show resilience and commitment in the face of uncertainty and I would like to express my gratitude to The Care Society Board for their support and unwavering commitment to broaden the reach of our services. I would also like to thank Barcud, our parent body, our good working relationship and infrastructure support with Barcud is integral to fulfilling our future plans. Finally, I would like

Page 4

to thank Powys County Council, Ceredigion County Council, Welsh Government, Dyfed Powys Police and partner agencies

G Evans Executive Director

Page 5

Cymdeithas Gofal The Care Society Report of the Trustees for the Year Ended 31 March 2023

The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report together with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of 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 2015).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objectives and aims of the charity are: To promote Social Inclusion for the public benefit by preventing people from becoming socially excluded by reason of homelessness, being at risk of losing their home, living in inadequate accommodation or unsettled circumstances in Ceredigion and surrounding counties by;

Public benefit

Our main activities and the people we try to help are described below. All our charitable activities further our Charity’s objectives having regard to Charity Commission guidance and for the public benefit. The impact of our work goes far beyond the people we help directly and has a positive impact on building stronger communities, improved health and wellbeing, crime reduction, employment and training in rural Mid-Wales. However, the main focus of charity activities is on providing advice and accommodation and providing support to help maintain tenancies and help people live fulfilled lives.

Through working in conjunction with the local authority, Registered Social Landlords and other key agencies, we have continued to develop our services to meet our objectives and to meet the needs of the people we support.

These objectives are delivered though the provision of the following services:

Page 6

Cymdeithas Gofal The Care Society Report of the Trustees for the Year Ended 31 March 2023

ACHIEVEMENT AND PERFORMANCE

Charitable activities

2022/2023 has been another extremely busy year for Cymdeithas Gofal The Care Society. During the period of this report this is evidenced by –

FINANCIAL REVIEW

Principal funding sources

The principal income generated by the Charity is currently through grant income, contract income from Ceredigion County Council and partner agencies, together with self-generated income from management fees, rents receivable and shop income.

Page 7

Cymdeithas Gofal The Care Society Report of the Trustees for the Year Ended 31 March 2022

Investment policy and objectives

The Charity has no investment powers except to place any surplus income into deposit accounts. Having considered the options available, the Trustees have decided to ensure reserves are available to meet the working capital requirements of the Charity.

Reserves policy

The Trustees have reviewed the requirement for reserves in view of continued reduction in public funding and other risks to the organisation.

The Trustees have agreed to establish a level of reserves equal to six months’ running costs. Budgeted expenditure for 2023/24 is £1.63 million, therefore the target reserves are £815,000. The long-term strategy of the Charity is to build reserves through delivering planned operating surpluses. In the short term, the Charity has explored all possibilities to reduce expenditure, including activities that could be curtailed should circumstance require, and also the level of unrestricted funds committed to fixed assets held by the charity.

Results:

The Statement of Financial Activities shows a net surplus from ordinary activities for the year of £227,162 (2022 surplus of £130,514), and reserves now stand at £1,196,608 (2022 £964,157). During the year there was property revaluations of £5,288.

The Charity’s funds have all been applied in accordance with its objectives and the Charity’s assets are all being maintained in the furtherance of these objectives.

FUTURE PLANS

With the continued uncertainty surrounding the current socio-economic climate, now more than ever The Care Society needs to plan ahead and deliver services flexibly. The Care Society has proved itself to be innovative and resilient in the face of significant challenges and continues to explore ways we can expand our operations to meet identified need. At the same time we are looking at consolidating the work we currently do in view of constant and increasing demand.

In relation to our staff, we will continue to listen to what they have to say and shall work towards implementing the recommendations arising from the January 2022 staff questionnaire responses.

Future Plans include:

Page 8

Cymdeithas Gofal The Care Society Report of the Trustees for the Year Ended 31 March 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The Charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment and appointment of new trustees

The Care Society has a competency-based performance management policy and procedure for recruitment of all personnel, which is used to set performance expectations, objectives and goals, monitor progress and measure performance against the objectives of the Charity.

Recruitment of Trustees is reviewed by the Board, with the view to ensuring the needs of the Board are appropriately reflected through the diversity of the Trustee body. All prospective Trustees are requested to complete application forms before selection.

All new Trustees are supplied with a comprehensive induction pack which details:

Organisational Structure

From April 2018, Cymdeithas Gofal The Care Society became a subsidiary of Tai Ceredigion in a group structure. In November 2020, Tai Ceredigion merged with Mid Wales Housing, forming Barcud. The governance of the structure is bound by the intra-group agreement between the Barcud and Cymdeithas Gofal The Care Society. The Charity is managed by the Trustees who meet quarterly. The day-to-day responsibility for the provision of services is delegated to the Executive Director, Guy Hamilton Evans, who reports to the Trustees at regular meetings.

Page 9

Cymdeithas Gofal The Care Society Report of the Trustees for the Year Ended 31 March 2023

Key management remuneration

The Trustees review the pay and remuneration of all the Charity’s personnel on an annual basis. The Care Society’s remuneration policy principles are as follows:

1. To ensure that the aims and objectives of the Charity are being met.

2. To be able to attract and also retain staff who have the necessary skills and experience in their specific roles to ensure that the organisation is able to run efficiently.

3. The remuneration policy is fair and consistent across the organisation.

Any pay increases need to be appropriate for the type of role within the organisation and agreed by Trustees.

Risk management

The Trustees have reviewed the major risks faced by the Charity and have ensured appropriate systems and procedures have been established to mitigate their impact. The Charity has invested significantly in both the training of staff and numerous quality assurance mechanisms, including:

Internal control risks are minimised by the implementation of robust Group Financial Regulations and established procedures for authorisation of all transactions.

The Care Society has developed a Risk Map identifying the changes in internal and external factors that may affect the likelihood of a significant risk impacting the organisation. The risk mapping process is fully embedded within business planning and operational arrangements and is complemented by a risk register. Each risk is assessed as to its ‘impact’ and ‘likelihood’ on a scale of 1 -5. The original risk is scored on the assumption that there are no current controls to manage it; this is a starting point to enable the identification of risks which have potentially high exposure levels for the business and is called an unmitigated risk.

Page 10

Cymdeithas Gofal The Care Society Report of the Trustees for the Year Ended 31 March 2023

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Trustees (who are also Directors of Cymdeithas Gofal The Care Society for the purposes of Company Law) are responsible for preparing the financial statements in accordance with applicable law and United Kingdom accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company, of the incoming resources and application of resources. This includes the income and expenditure of the charitable company for that period. In preparing those financial statements, the trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006.

They are 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.

In so far as the Trustees are aware:

Approved by order of the Board of Trustees on 20th July 2023 and signed on its behalf by:

A P Hearn - Chair

Page 11

Report of the Independent Auditors to the Members of Cymdeithas Gofal The Care Society

Opinion

We have audited the financial statements of Cymdeithas Gofal The Care Society (“the charity”) for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Page 12

Report of the Independent Auditors to the Members of Cymdeithas Gofal The Care Society

Matters on which we are required to report by exception

In light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Report.

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the trustees’ responsibilities statement set out on page 10, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Extent to which the audit was considered capable of detecting irregularities, including fraud

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

In identifying and addressing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

Page 13

Report of the Independent Auditors to the Members of

Cymdeithas Gofal The Care Society

Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing fraud or noncompliance with laws and regulations and cannot be expected to detect all fraud and non-compliance with laws and regulations.

Use of the audit report

This report is made solely to the charity’s members as a body in accordance with Section 3 of Part 16 or the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s 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 charity and the charity’ trustees as a body for our audit work, for this report, or for the opinions we have formed

Lee Cartwright (senior statutory auditor) For and on behalf of Beever and Struthers, statutory auditor The Colmore Building 20 Colmore Circus Queensway Birmingham B4 6AT

Date 26 September 2023

Page 14

Cymdeithas Gofal The Care Society Statement of Financial Activities

(Incorporating Income and Expenditure Account) for the Year Ended 31 March 2023

Notes
INCOME AND ENDOWMENTS
Donations and legacies
2
Charitable Activities
Promotion of social inclusion
5
Other trading activities
3
Investment income
4
Other Income
6
Total
EXPENDITURE ON
Raising funds
7
Charitable activities
Promotion of social inclusion
8
Total
NET INCOME/(EXPENDITURE)
EXCEPTIONAL ITEM
14
NET INCOME/(EXPENDITURE)
TRANSFER BETWEEN FUNDS
22
Total funds brought forward
TOTAL FUNDS CARRIED
FORWARD		 Unrestricted
fund
£
9,687
1,133,285
105,509
531
15,959

1,264,971
74,278
869,533
943,811
321,160
5,288
326,448
(93,998)
906,840
1,139,290		 Restricted
funds
£
-
388,097
-
-
-

388,097
-
482,096
482,096
(93,999)
-
(93,999)
93,998
57,318
57,317		 31.3.23
Total
Funds
£
9,687
1,521,382
105,509
531
15,959
1,653,068
74,278
1,351,629
1,425,906
227,162
5,288
232,450
-
964,157
1,196,607		 31.3.22
Total
Funds
£
8,342
1,363,410
93,307
30
36,656

1,501,745
61,656
1,309,935
1,371,591
130,154
106,262
236,416
-
727,741
964,157

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

The notes form part of these financial statements

Page 15

Cymdeithas Gofal The Care Society Statement of Financial Position As at 31 March 2023

Notes
FIXED ASSETS
Tangible assets
14
CURRENT ASSETS
Debtors
15
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
16
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS
Amounts falling due after more than one year
17
NET ASSETS
FUNDS
22
Unrestricted funds
Restricted funds
TOTAL FUNDS		 31.3.23
£
526,914
526,914
368,337
871,407
1,239,744
(311,237)
928,507
1,455,421
(258,814)
1,196,607
1,139,290
57,317
1,196,607		 31.3.22
£
511,225
511,225
495,243
534,639
1,029,882
(306,531)
723,351
1,234,576
(270,419)
964,157
906,840
57,317
964,157

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small charitable companies.

The financial statements were approved by the Board of Trustees on 20th July 2023 and were signed on its behalf by:

A P Hearn – Chair

Registered number : 07628816

The notes form part of these financial statements

Page 16

Cymdeithas Gofal The Care Society Statement of Cash Flows

For the Year Ended 31 March 2023

Notes
Cash flows from operating activities:
Cash generated from operations
1
Interest paid
Net cash provided by/(used in)
operating activities:
Cash flows from investing activities:
Purchase of tangible fixed assets
Property Revaluation
Interest received
Net cash provided by/(used in)
investing activities:
Cash flows from financing activities:
Loan repayments in year
Intercompany loan
Net cash provided by/(used in)
financing activities:
Change in cash and cash equivalents in
the reporting year
Cash and cash equivalents at the
beginning of the year
Cash and cash equivalents at the end of
the year		 31.3.23
£
395,913
(13,824)
382,089
(32,557)
(5,288)
531
(37,314)
(8,007)
-
(8,007)
336,768
534,639
871,407		 31.3.22
£
216,455
(10,847)
205,608
-
(106,263)
30
(106,233)
(10,984)
-
(10,984)
88,392
446,247
534,639

The notes form part of these financial statements

Page 17

Cymdeithas Gofal The Care Society Notes to the Statement of Cash Flows

For the Year Ended 31 March 2023

1. RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income for the reporting year (as per the statement of
financial activities)
Adjustments for:
Depreciation charges
Amortisation of intangible assets
Interest received
Interest paid
(Increase) in debtors
(Decrease)/increase in creditors
Net cash provided by operating activities		 31.3.23
£
232,450
22,156
(3,269)
(531)
13,824
126,906
4,377
395,913		 31.3.22
£
236,416
13,302
(3,266)
(30)
10,847
(150,765)
109,951
216,455

Page 18

Cymdeithas Gofal The Care Society Notes to the Financial Statements For the Year Ended 31 March 2023

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 2015)', 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 which are included at market value.

Income

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

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.

Governance costs

Governance costs are those incurred in connection with the administration of the charity and compliance with constitutional and statutory requirements.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property & shop frontage - Straight line over 50 years Motor vehicles – Straight line over 5 years Fixtures and fittings – Straight line over 5 years Computer equipment – Straight line over 5 years

No depreciation is provided on freehold land.

Taxation

Corporation tax

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

VAT

All income is shown net of VAT and expenditure is shown inclusive of irrecoverable VAT.

Page 19

Cymdeithas Gofal The Care Society Notes to the Financial Statements For the Year Ended 31 March 2023

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

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.

Capital Grants

Capital grants are recognised using the accrual model and are classified either as a grant relating to revenue or a grant relating to assets. Grants relating to revenue are recognised in income on a systematic basis over the period in which related costs for which the grant is intended to compensate are recognised.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset.

Page 20

Cymdeithas Gofal The Care Society Notes to the Financial Statements For the Year Ended 31 March 2023

2. DONATIONS AND LEGACIES

2. DONATIONS AND LEGACIES
Donations
3. OTHER TRADING ACTIVITIES
Shop income
Shop Mobility rental income
4. INVESTMENT INCOME
Deposit account interest
5. INCOME FROM CHARITABLE ACTIVITIES
Activity
Rents receivable
Promotion of social
inclusion
Management fees
Promotion of social
inclusion
CCC – Managed Emergency
Accommodation
Promotion of social
inclusion
Befriending income
Promotion of social
inclusion
Credit Card income
Promotion of social
inclusion
IOM
Promotion of social
inclusion
Miscellaneous Income
Promotion of social
inclusion
Grants received
Promotion of social
inclusion
TOTAL		 31.3.23
£
9,687
31.3.23
£
93,453
12,056
105,509
31.3.23
£
531
31.3.23
£
139,442
35,161
28,080
345,271
601
0
5,498
967,330		 31.3.22
£
8,342
31.3.22
£
85,371
7,936
93,307
31.3.22
£
30
31.3.22
£
118,896
36,377
28,080
329,514
813
2,043
590
847,095
1,521,382 1,363,409

Page 21

Cymdeithas Gofal The Care Society Notes to the Financial Statements For the Year Ended 31 March 2023

5. INCOME FROM CHARITABLE ACTIVITIES - continued

Grants received, included in the above, are as follows

Welsh Government - S180 Bond Scheme
Welsh Government - S180 Night Shelter Funding
Welsh Government - S180 Accommodation Officer
Welsh Government - Innovation funding
Wardening
Barcud
Jasper House
Ceredigion County Council
Supporting People
Young Persons Project
STEP Project
Powys County Council
Mid & West Wales Fire Rescue
Other Grants
TOTAL		 31.3.23
31.3.22
£
£
41,611
41,683
162,102
162,092
36,305
39,178
64,459
65,000
31,908
29,889
43,457
47,706
405,507
333,052
36,540
34,462
83,621
80,975
54,181
1,530
1,245
6,109
11,815
967,330
847,095

Page 22

Cymdeithas Gofal The Care Society Notes to the Financial Statements For the Year Ended 31 March 2023

6. OTHER INCOME

Furlough Income
Covid-19 Grants
Residual Input Tax
Amortisation
SING FUNDS
Other Trading Activities
Staff costs
Other operating leases
Insurance
Subscription
Sundries
Utilities
Postage, stationery, advertising & telephone
Travel & subsistence
Repairs & maintenance of equipment
Depreciation
Professional Fees
Audit
Support costs		 31.3.23
£
0
0
12,690
3,269
15,959
31.3.23
£
37,662
14,436
877
561
128
7,786
2,687
702
981
863
709
609
6,278
74,278		 31.3.22
£
1,386
26,741
5,263
3,266
36,656
31.3.22
£
34,972
15,588
499
618
126
288
1,785
513
1,599
-
-
-
5,669
61,657

7. RAISING FUNDS

8. CHARITABLE ACTIVITIES COSTS

Direct costs Support
(see note 9) costs Totals
(see note 10)
£ £ £
Promotion of social inclusion 1,267,275 84,354 1,351,629

Page 23

Cymdeithas Gofal The Care Society Notes to the Financial Statements For the Year Ended 31 March 2023

9. DIRECT COSTS OF CHARITABLE ACTIVITIES

Staff costs
Hire of plant and machinery
Insurance
Light & heat
Telephone
Postage & stationery
PR, marketing & promotions
Sundries
Resettlement expenditure
IT, licenses & internet
Travel & subsistence
Legal & professional
Bank charges
Bad debts
Cleaning
Recruitment & training
Sub-contractors
Van costs
Depreciation
Interest payable and similar charges		 31.3.23
£
916,957
1,832
9,225
26,463
12,882
1,887
210
3,355
139,855
2,225
60,986
21,531
722
1,310
1,905
8,988
19,050
2,793
21,294
13,824
1,267,275		 31.3.22
£
900,010
446
11,839
24,205
19,285
1,412
176
4,614
130,533
13,051
56,162
12,372
5,017
6,372
3,384
7,170
13,117
1,990
13,302
10,847
1,235,304

Page 24

Cymdeithas Gofal The Care Society Notes to the Financial Statements For the Year Ended 31 March 2023

10. SUPPORT COSTS

Other trading activities
Promotion of social inclusion
Activity
Basis of allocation
Management
Staff costs
Governance costs
Staff costs		 Management
£
6,277
81,667
87,944		 Governance
Costs
£
609
2,687
3,296		 Totals
£
6,886
84,354
91,240

Support costs, included in the above, are as follows

Management
Other
Trading
Activities
£
Promotion
of social
inclusion
£
31.3.23
£
Staff Costs
-
-
-
Other
-
-
-
SLA Expenditure
6,277
81,667
87,944
6,277
81,667
87,944
Governance
Other
Trading
Activities
£
Promotion
of social
inclusion
£
31.3.23
£
Auditors
remuneration
609
2,687
3,296
Cost of Trustee
Meetings
-
-
-
609
2,687
3,296
T INCOME/(EXPENDITURE)
et income/(expenditure) is stated after charging/(crediting)
Auditor remuneration
Depreciation
Hire of plant and machinery		 Other
Trading
Activities
£
Promotion
of social
inclusion
£
31.3.22
£
-
-
-
-
-
-
5,327
70,307
75,634		 Other
Trading
Activities
£
Promotion
of social
inclusion
£
31.3.22
£
-
-
-
-
-
-
5,327
70,307
75,634
5,327
70,307
75,634
Other
Trading
Activities
£
Promotion
of social
inclusion
£
31.3.22
£
342
4,324
4,666
-
-
-
342
4,324
4,666
31.3.23
£
3,296
22,157
1,832		 31.3.22
£
4,667
13,303
446

11. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting)

Page 25

Cymdeithas Gofal The Care Society Notes to the Financial Statements For the Year Ended 31 March 2023

12. TRUSTEES’ REMUNERATION AND BENEFITS

No trustee remuneration or expenses were paid in the year (2022: £NIL)

13. STAFF COSTS

Wages and salaries
Social Security costs
Other pension costs		 31.3.23
£
865,664
73,450
15,378
954,491		 31.3.22
£
860,179
61,385
12,923
934,487

The average monthly number of employees expressed as full time equivalents:

Charitable activities
Administration		 31.3.23
41
4
45		 31.3.22
37
3
40

No employees received emoluments in excess of £60,000.

Page 26

Cymdeithas Gofal The Care Society Notes to the Financial Statements For the Year Ended 31 March 2023

14. TANGIBLE FIXED ASSETS

COST
At 31st March 2022
Additions
Disposals
Revaluation
At 31st March 2023
DEPRECIATION
At 31st March 2022
Charge for the year
Disposals
Revaluation
At 31st March 2023
NET BOOK VALUE
At 31st March 2023
At 31st March 2022		 Freehold
Property
£
Improvements
to property
£
Fixture &
Fittings
£
455,000
63,532
15,241
9,712
-
-
-
-
-
5,288
-
-
IT Equipment
£
16,101
-
-
-		 Motor
Vehicles
£
Total £
2,875
552,749
22,845
32,557
(2,875)
(2,875)
-
5,288
470,000
63,532
15,241		 16,101 22,845
587,719
0
15,939
9,564
14,247
2,541
2,442
-
-
-
-
-		 13,695
2,063
-
-		 2,326
41,524
863
22,156
(2,875)
(2,875)
-
-
14,247
18,480
12,006		 15,758 314
60,805
455,753
45,052
3,235		 343 22,531
526,914
455,000
47,593
5,677		 2,406 549
511,225

Included in cost of land and buildings is freehold land of £143,000 (2020 - £143,000) which is not depreciated.

Page 27

Cymdeithas Gofal The Care Society Notes to the Financial Statements For the Year Ended 31 March 2023

15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Gross rent arrears
Provision for bad debt
Net rent arrears
Amount owed by group undertakings
Prepayments, accrued income and other debtors		 31.3.23
£
127,852
(11,526)
116,326
7,950
244,061
368,337		 31.3.22
£
53,824
(11,276)
42,548
9,522
443,173
495,243

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Bank loans and overdrafts (see note 18)
Trade creditors
Social security and other taxes
Capital grants deferred income
Other creditors
Accruals and deferred income		 31.3.23
£
11,768
48,245
16,715
3,269
183,124
48,116
311,237		 31.3.22
£
11,442
55,968
16,715
3,266
124,621
94,519
306,531

17. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Bank loans (see note 18)
Capital grant deferred income		 31.3.23
£
246,897
11,917
258,814		 31.3.22
£
255,230
15,189
270,419

Page 28

Cymdeithas Gofal The Care Society Notes to the Financial Statements For the Year Ended 31 March 2023

18. LOANS

An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank loans
Amounts falling between one and two years:
Bank loans 1-2 years
Amounts falling between two and five years:
Bank loans 2-5 years
Amounts falling in more than five years:
Bank loans more 5 yrs by install		 31.3.23
£
31.3.22
£
11,768
11,442
12,245
11,907
39,850
38,753
194,802
204,570

19. LEASING ARRANGEMENTS

Minimum lease payments under operating leases fall due as follows:

Within one year
Between two and five years
More than 5 years		 31.3.23
Property
£
31.3.22
Property
£
36,772
42,800
75,360
171,200
36,000
85,600
148,132
299,600

20. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£ £
Bank loans 258,665 266,672

The bank loan is secured by way of a first legal charge over the freehold property known as 26 Cambrian Street, Aberystwyth and 21 Terrace Road, Aberystwyth.

Page 29

Cymdeithas Gofal The Care Society Notes to the Financial Statements For the Year Ended 31 March 2023

21. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fixed assets
Current assets
Current liabilities
Long-term liabilities		 Unrestricted
fund
£
526,914
1,182,427
(284,432)
(285,619)
1,139,290		 Restricted
fund
£
-
57,317
-
-
57,317		 31.3.23
Total
Funds
£
526,914
1,239,744
(284,432)
(285,619)
1,196,607		 31.3.22
Total
Funds
£
511,226
1,029,882
(295,089)
(281,861)
964,158

22. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Restricted funds
Welsh Government –
S180 Bond Scheme
Welsh Government –
S180 Accommodation Officer
Welsh Government –
S180 Rooflessness
Welsh Government –
Innovation funding
STEP
Transition funding
Shop mobility
TOTAL FUNDS		 At 01.04.22
Net
movement
in funds
Transfers
between
funds
At 31.3.23
£
£
£
£
906,839
326,448
(93,998)
1,139,289
35,346
(613)
613
35,346
-
(4,656)
4,656
-
-
(88,914)
88,914
-
-
(7,424)
7,424
-
-
7,609
(7,609)
-
3,942
-
-
3,942
18,030
-
-
18,030
57,318
(93,998)
-
57,318
964,157
232,450
-
1,196,607

Page 30

Cymdeithas Gofal The Care Society Notes to the Financial Statements For the Year Ended 31 March 2023

Note 22 MOVEMENT IN FUNDS Continued

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

Net movement in funds, included in the above are
as follows:
Incoming Resources Movement
Resources expended in funds
£ £ £
Unrestricted funds
General fund 1,270,258 943,810 326,448
Restricted funds
Welsh Government - S180 Bond Scheme 41,611 42,224 (613)
Welsh Government - S180 Accommodation Officer 36,305 40,961 (4,656)
Welsh Government - S180 Night Shelter 162,102 251,016 (88,914)
Welsh Government - Innovation funding 64,459 71,883 (7,424)
STEP 83,621 76,012 7,609
388,098 482,096 (93,998)
TOTAL FUNDS 1,658,356 1,425,906 232,450

General funds – are available for use at the Trustees’ discretion in furtherance of the objectives of the Charity.

Restricted accounts are as follows:

Grants have been received under S180 of the Housing Act 1996 or Section 126 of the Housing Grants Construction and Regeneration Act 1966 from the Welsh Government for specific projects. These grants are as follows:

S180 Bond Scheme – The Bond Scheme enables people on low incomes to move into their own private accommodation. Thus people, who are homeless or facing homelessness, are assisted into finding safe, affordable and sustainable rented accommodation facilitated through the provision of a bond guarantee.

S180 Accommodation Officer – The principal objective of the ‘Accommodation Officer Scheme’ is to alleviate homelessness in Ceredigion through meeting the increased demand for suitable and affordable private rented accommodation. To this end the scheme works with the Welsh Government, the Local Authority and regional private landlords to promote good practice, improve property standards and meet the shortfall from the existing private rented sector, registered social housing and statutory housing provision.

Page 31

Cymdeithas Gofal The Care Society Notes to the Financial Statements For the Year Ended 31 March 2023

Note 22 Continued

S180 Night Shelter – Rooflessness & Resettlement Initiative The overall aim of this project is to reduce homelessness and repeat homelessness in Ceredigion and rural mid-Wales through the provision of safe accommodation for ‘rough sleepers’ and homeless people. The project also aims to achieve positive resettlement outcomes and prevent social exclusion through engagement with service users and by providing support, access to the Accommodation Officer and Bond Schemes, client activities, housing advice, welfare, finance and benefits advice, partnership working and signposting to specialist agencies.

Innovation funding - In 2019/2020 Cymdeithas Gofal The Care Society successfully secured Welsh Government Innovation Grant Funding to provide a psychologically–and-trauma informed accommodation and support service specifically for people up to the age of 25. With this grant income Cymdeithas Gofal The Care Society have established an innovative Housing First for Youth Project based in Aberystwyth from premises provided by Barcud. This project has been designed to address the needs of developing young adults by providing them with immediate access to housing that is safe, affordable and appropriate, with the necessary and age-appropriate support that focuses on health, well-being, life skills, engagement in education and employment, and social inclusion. The goal of this project is not simply to provide housing stability, but to support young people as youth and facilitate a healthy transition to adulthood.

Shop Mobility Scheme – To provide the effective delivery of the Shop Mobility project, including staff training, acquisition of suitable mobility equipment, safe storage of such equipment in an appropriate central location in Aberystwyth and delivery to where the equipment is needed. Use of the equipment should be charged on a fair and reasonable basis and effective promotion of the scheme is also required.

STEP - Successful delivery of a Supported Training and Employment Programme (STEP) in Lampeter providing access to training and work placements for up to 95 individuals economically inactive and over the age of 25

Page 32

Cymdeithas Gofal The Care Society Notes to the Financial Statements For the Year Ended 31 March 2023

23. RELATED PARTY TRANSACTIONS

As of 1[st] April 2018, The Care Society entered a voluntary merger with Tai Ceredigion housing association and became a subsidiary of the association. Any transactions made between The Care Society and Barcud are made at arm’s length on a commercial basis.

In November 2021, Tai Ceredigion merged with Mid Wales Housing to form Barcud Housing Association.

Purchases from related Parties

During 2022/23 the detail of invoices from and payments made to Barcud were as follows:

Barcud Invoiced Outstanding
Total Invoices £224,862.41 £48,603.65

The Care Society is a tenant of Barcud, in one property, Yr Albion. During the financial year 2022/23, rent paid by The Care Society was £4,951.96.

The Charity Shop in Chalybeate Street, Aberystwyth is also rented from Barcud costing £13,000 in 2022/23.

Income from Related Parties

The Care Society provided Barcud with Wardening services.

In addition, The Care Society claims back PESM from its parent company.

Invoiced Outstanding
Barcud Wardening Services £35,211.97 £7,874.98
PESM £11,096.86 £0.00
IOM £910.06 £75.06

Page 33

Cymdeithas Gofal The Care Society Detailed Statement of Financial Activities

For the Year Ended 31 March 2023

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Other trading activities
Shop income
Shop Mobility rental income
Investment income
Deposit account interest
Other income
Furlough income
Covid-19 Grants
Residual input tax
Amortisation
Charitable activities
Rents receivable
Management fees
CCC – Managed Emergency Accommodation
Befriending Income
Credit card income
IOM
Misc income
Grants
Total incoming resources
EXPENDITURE
Other trading activities
Staff costs
Insurance
Other operating leases
Subscription
Sundries
Utilities
Postage, stationery, advertising & telephone
Travel & subsistence
Professional Fees
Repairs & maintenance of equipment
Depreciation of tangible fixed assets		 31.3.23
£
9,687
93,453
12,056
105,509
531
-
-
12,690
3,269
15,959
139,442
35,160
28,080
345,271
601
-
5,498
967,330
1,521,382
1,653,068
37,662
877
14,436
561
128
7,786
2,687
702
709
981
863
67,392		 31.3.22
£
8,342
85,371
7,936
93,307
30
1,386
26,741
5,263
3,266
36,656
118,896
36,377
28,080
329,515
812
2,043
590
847,097
1,363,408
1,501,743
34,972
499
15,588
618
126
288
1,785
513
-
1,599
-
55,988

This page does not form part of the financial statements

Page 34

Cymdeithas Gofal The Care Society Detailed Statement of Financial Activities For the Year Ended 31 March 2023

Charitable activities
Staff Costs
Hire of plant and machinery
Insurance
Light and heat
Telephone
Postage and stationery
PR, marketing & promotions
Sundries
Resettlement expenditure
IT, licenses & internet
Travel & Subsistence
Legal & Professional
Bank charges
Bad debts
Cleaning
Recruitment & training
Sub-contractors
Van costs
Depreciation of tangible assets
Bank loan interest
Support costs
Management
SLA Expenditure
Governance costs
Auditors’ remuneration
Cost of Trustee meetings
Total resources expended
Exceptional Item
Net expenditure		 31.3.23
£
916,957
1,832
9,225
26,463
12,882
1,887
210
3,355
139,835
2,225
60,986
21,531
722
1,310
1,905
8,988
19,050
2,793
21,294
13,824
1,267,274
87,944
87,944
3,296
-
3,296
1,425,906
5,288
232,450		 31.3.22
£
900,008
446
11,839
24,205
19,285
1,412
176
4,614
130,533
13,051
56,162
12,372
5,017
6,372
3,384
7,170
13,117
1,990
13,302
10,847
1,235,302
75,634
75,634
4,667
-
4,667
1,315,603
106,262
236,414

This page does not form part of the financial statements

Page 35