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← Bridgend Association Of Voluntary Organisations

2024-03-31-accounts

Bevan Buckland LLP Cardigan House Castle Court Swansea Enterprise Park SA7 9LA BAVO Brfdg8nd AJ•oclatlon of Voluntary Ory8n1￿tlOn9 C￿7￿•11￿• S•fyYlll•d•u 13wlrfoddol P•n.bont ar Ogwr Dear Auditor This representation letter is provided in connection with your audit of the financlal statements of the charity for the year ended 31 March 2024, for the purpose of expressing an opinion as to whether the financial stalemenls are presented fairly. in all material aspects, (or give a true and fair view) in accordance with Companies Act 2006, Charities Act 2011 and United Kingdom Accounting Standards. including Financial Reporting Standard 102.. The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Klngdom Generally Accepted Accounllng Practice).. We confirm that the following represenlalions are made on the basis of enquiries of Ihe trustees, management and staff with relevant knowledge and experience land, where appropriate, of inspection of supporting documentalionl sufficient lo satisfy ourselves that we can properly make each of the following representsllons to you-. 1. We have fvifilled our responsibilities as trustees under the Companies Act 20061Charities Act 2011 for preparing financial statements, in accordance with the applicable financial reporting framework FRS 102 and the FRS 102 Charity SORP. W8 confirm that in our opinion th8 flnanclal statements giv8 a true and fair view and in particular that where any additional information musl be disclosed in order to give a true and fair view that Informatlon has in fact been dlsclosed. We confirm that the selection and application of the accounting policies used in the preparation of the financial statements are appropriate, and we approve these accounts for the year 8nd8d 31 March 2024. 2. We confirm that all accounting records have been made available to you for the purpose of your audlt, in accordance with your terms of engagement. and Ihal 811 the transactions undertaken by the charity have been property reflected and recorded in the accounting records. All other records and related information, including minules of 811 management. truslees, and members, meetings, have been made available to you. We have given you unrestricted access to persons wilhin the charity In order lo obtain audit evldence and have provided any additional informalion that you have requested for the purposes of your audit. 3. We acknowledge that il Is a crlminal offence to make a false slalemenl in this regard, and where any director either makes a false statement. is aware that the statement is false,. is reckless in preventing this stalement: or fails lo take reasonable steps lo prevent the directors, report from being approved. we acknowledge that each director will be guilty of a criminal offence. 4. We confirm the charity has satisfactory title to all assets and there are no liens or encumbrances on Ihe assets, except for those disdosed in the financial statements. 5. We confirm that significant assumptions used by us in making 8ccounling estimates, including those measured at fair value, are reasonable. 6. We confirm that we have no plans or intentions thal may materially alter the carrying value and, wher6 relevant, the fair value measurements or classification of assets and liabililies reflected In the financial statements. 7. We confirm that the charity has no Ilabilities or contingent liabilities othér than those disclose the financi ents. CYBER ESSENTIALS 112-113 Commercial Street Heol y Fasnach . Maesleg CF34 9DL Tl Ff.. 01656 810400 E: bavo@bavo.org.uk • w￿.bav0.Org.uk c￿nY￿01R￿lYTh￿.. 076917fj4 CIRohhknnuthlRhrfoJf[ebLw•￿4n.' 1146543

  1. We confirm that all kno whose effects should be considered when prepari lal ts ed lo you and accounted for and disclosed in accordaBaa￿lI1l Its(￿lOdIè1Ethfftarta￿ ¢¢90rtI￿1￿Ifimework FRS 102 and the FRS 102 Charity SORP. Cymdelthas Sefydlsad8u Gwirfoddol Pen-y-bont ar Ogv&T
  2. We confirm that there have been no events since the balance sheet dale which require disclosing or which would malerlally affect the amounts in the financial slalements, other than those already disclosed or Included in the financial statements.
  3. We confirm that we are aware of the definition of a related party for the purpose of th8 accounting framework being applied in the preparalion of the accounts. We confirm that there have been no material transactions with related parties.
  4. We C￿nfirM that the charity neither had. al any time during the year. any arrangement, transaction. or agreement lo provide credit facilities (including advances and credits grant8d by lh8 charity) f trustees, nor provided guarantees of any kind on behalf of the trustees.
  5. We confirm that the charity has not contracted for any capital expenditure other than as disclosed in the financial statements.
  6. We confirm that the charity has complied with all aspects of contractual agreements that could have a material effect on the financial slalemenls in the event of non-complianc8.
  7. We confirm that we are not aware of any possible or actual instance of non-compliance with those laws and regulations which provide a legal framework within which the charity conducts its activities and which are central to the charity's abllity lo conduct its activities. 8xcept as explalned lo you and as disclosed in the financlal statements.
  8. We acknowledge our responsibility for the design, implementation and maintenance of internal controls lo prevent and deleGI fraud. We confirm that we have disclosed lo you the results of our risk assessment of tha rlsk of fraud in the organisation. There have been no deficiencies in internal control of which we are aware.
  9. We confirm that there have been no actual or suspected insiances of fraud Involving irustees. management or employees who have a significant role in internal control or that could have material effect on the financial sialemenls. We also confirm that we are not aware of any allegations of fraud by trustees, former trustees. analysts, employees. former employees, regulators or others.
  10. We c£Jnfirm Ihal, in our opinion, the charity's financial statements should be pr8par8d on the going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the charity's needs. In reaching this conclusion, we have taken into account all relevant mallers of which we are aware, and have considered a period of at least one year from the date on which the financial statements will be approved.
  11. We confim) Ihat in our opinion the effects of uncorrected misst81emenls are immatorlal, both individually and In aggregate, lo the financial slatements as a whole. A list of the uncorrected misstatements Is attached to this leller.
  12. We confirm that all grants. donations and other income, including thosé sublacl to speclal terms or conditions or received for r8slricled purposes, have been notified to you. There have been no breaches of terms or conditions during the period regarding the application of such incom8.
  13. We conflrm the following specific representations made to you during the course of your audlt rela lo.. CEf Sedo" dbe ucle r l￿￿￿￿￿1eS Act iesiltKvu,'Jm h. enpr disclosed in the accounts: Ef 5Ef,J I LALS led and I e carried r ces en 112-113 Commercial Street Heol y Fasnach . Maesteg CF34 9DL Tl Ff: 01656 810400 E: bavo@bavo.org.uk • %VVW.bavo.org.uk ODD,. CuwiNtslFthKycrri". 07691161

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• All correspondence ding any serious incident
reports.
sociation r:y rganisations
• The accrual for grant -ialtmlr i:;pJiP• at the year end
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Yours faithfully,

Signed on behalf of the board of trustees

Trustee......................................................Marged Sian Griffiths (Dec 18, 2024 19:06 GMT)

Dec 18, 2024 Date ..... ........................... ..........................

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Celnogi T,ydSedorCumru CYBER
5uppo(t Thin! Sed0< Wales Llywodraeth Cymru ESSENTIALS
&£ 72® Welsh Government pC
112-113 Commercial Street
TRUSTED Heol y Fasnach • Maesteg CF34 9DL
CHARITY MARK
T / Ff: 01656 810400
E: bavo@bavo.org.uk • www.bavo.org.uk
Company No I Rhif y cwmni: 07691764
Charity registration number I Rhif cofrestru elusen: 1146543
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REGISTERED COMPANY NUMBER: 07691764 (England and Wales) REGISTERED CHARITY NUMBER: 1146543

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS (BAVO)

Bevan Buckland LLP Chartered Accountants And Statutory Auditors Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA

BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS (BAVO)

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

Page
Report of the Trustees 1 to 6
Report of the Independent Auditors 7 to 9
Statement of Financial Activities 10
Balance Sheet 11
Cash Flow Statement 12
Notes to the Cash Flow Statement 13
Notes to the Financial Statements 14 to 27
Detailed Statement of Financial Activities 28

BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS (BAVO)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. 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 2019).

OBJECTIVES AND ACTIVITIES

Purpose, values and activities for public benefit

The constitutional objectives of the charity are to promote any charitable purpose for the benefit of the public, principally but not exclusively in the local government area of Bridgend County Borough and its environs, and in particular:

BAVO's purpose is to support, encourage and promote the development of a voluntary and community sector in Bridgend that is effective and efficient, informed and influential and that will have a positive impact on people's lives. In achieving its mission, BAVO hopes to establish a flourishing, involved and sustainable local voluntary sector.

The work of BAVO is guided by a set of core principles and values which help to determine priorities and the overall style of working. BAVO recognises that Bridgend County is a diverse Borough and that everyone can make a valid and valued contribution to their community and has a right to equality of opportunity.

The principal aims of the charity, all considered for public benefit, are:

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BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS (BAVO)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

STRATEGIC REPORT

Achievement and performance

The charity has achieved its main aims above in a variety of ways, with new projects also being delivered to progress activity in support of its mission.

The charity's partners, Welsh Government, Bridgend County Borough Council (BCBC) and CTMU Health Board continued to recognise the value of the work of BAVO and continued contributing funding towards services and activities of the organisation and this enabled a level of stability in the planning and future development of other activities.

The charity continues to work as a key member of Third Sector Support Wales (TSSW), a network of WCVA and County Voluntary Councils across Wales. Together we have worked to develop our core services to support hyper-local voluntary, community and not-for-profit groups and we are working to the TSSW strategic plan.

(1) Development and Sustainable Funding Support

The development team provides comprehensive guidance and support to community-based voluntary groups and organisations, responding to both general and specialist enquiries. Information and advice were given to 285 organisations in Bridgend County on local and regional and/or operational issues. The team also has vast knowledge of, and connections to other community development organisations and the private sector who can sometimes provide more specialist and niche advice or pro bono support. The team will always signpost groups to the best options that meet their needs, but most enquiries were covered in-house.

The service remained proactive in working with members and we regularly undertook 'on your patch' events. The team assisted with governance and operational issues, sustainable funding and fundraising, training, events and networking. Such opportunities encourage organisations to share good practice, promote learning, develop working partnerships, reduce duplication and build capacity within their organisations so that they are better placed to reduce risk and meet demands.

BAVO also works with grant providers and funders to support investment into the local third sector. Unfortunately, due to the challenging financial climate, BAVO received reduced funding to distribute throughout the year. Nevertheless £178,653 grant funding was still provided to local community and voluntary groups operating in Bridgend County, primarily to support prevention work. In addition, our team were in a position to support and strengthen member groups and/or their funding applications, a number of whom went on to achieve successful funding applications, levering in a further £665,513 investment into community activity and facilities in the County Borough.

(2) Training Programmes

BAVO has continued to deliver a wide range of services and support. The organisation also continued to develop and deliver open and tailored training for community and voluntary organisations and not-for-profits. Wherever possible, BAVO maximised opportunities for sector development through collaborative working with other providers. Additionally, our training work has helped groups to access new sources of income to secure service delivery that not only serves communities but supports the overall outcomes of the Public Service Board's wellbeing goals and the corporate strategies of partner agencies within public services. We trained 123 people through digital and face-to-face sessions in the year

(3) Volunteering Opportunities

The volunteer centre continued to promote and offer volunteering opportunities. The organisation uses a range of promotional materials and promotes its activities through social media, newsletters, and the Volunteering Wales website, which we support in terms of data input and management. The volunteer centre continued to work with other volunteer centres across Wales as well as with a range of other partners and dealt with more than 300 enquiries in the year.

We accomplished outcomes including supporting people towards employment and/or tackling social isolation as well as supporting member organisations to have increased resources in delivering their work. The centre continues to offer a brokerage service matching potential volunteers with local groups and opportunities, 250 people received help with volunteering and 64 were placed into volunteering vacancies via BAVO.

Every June we celebrate Volunteers' week and promote the vital role volunteers play in achieving greater wellbeing and positive outcomes for people and communities across Bridgend County.

(4) Influencing and Engagement

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BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS (BAVO)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

The charity has a place on the Public Service Board and Regional Partnership Board Structures and active engagement in strategic processes within Health and government. BAVO facilitates representation and/or third sector direct engagement at over 100 partnership, joint planning and/or working groups. BAVO also supports several Third sector provider networks to coproduce approaches to meeting community needs and to providing a conduit for feeding voluntary and community voice into the strategic partnerships.

(5) Providing practical services

Accessible meeting and hybrid conference facilities are available to members and are used for recruitment, training, consultations, and workshops. Hot-desking is also available for organisations to hire at low cost, and self-contained office and shop front spaces are available for longer-term rental at reasonable rates.

(6) Additional Projects

Alongside our core provision, BAVO continued delivery of 'Regional Integrated funded' programmes 'Community Navigators' and 'Resourceful, connected and coordinated' communities. A whole-system approach to support capacity building for voluntary and community groups which helps provide assurance and safety in the connecting of individuals to services and opportunities that meet their needs and interests. In addition to the KPIs outlined below, our Community Navigator team (who work primarily with individuals aged over 50, people living with dementia, adults with learning disabilities and carers) received 488 new referrals and an additional 352 new clients. Some people had several presenting issues that our team supported, 1296 were assisted. In the year, including existing contacts, there were 5729 onward referrals and service signposting.

We again exceeded the annual target and 97% of service users took up the support offered. Referrals received relevant support and were signposted to appropriate assistance in a timely way with 98% of assessments delivered within target.

The Navigators work with a range of partners who provide referrals to the team, and a range of community-based provision to whom they sign-post individuals. Similar to last year, 89% of referrals were signposted to third sector, community and voluntary sector support, 4% to the private sector and 7% required statutory support.

We also continued to deliver Community Companions, a befriending scheme that is crucial to enabling older people to feel socially connected and remain less isolated and more independent insofar as possible. 30 people were befriended through this programme and volunteers provided over 1500 hours of support.

(7) Member Engagement

Surveys, feedback loops, events, face to face support and general member engagement means we often gain insight that helps us to continuously improve. We review our delivery and service offer regularly and are seeking to develop further services that are relevant to members. Towards the end of the financial year we worked with Richard Newton consultants to start our strategy consultation process with members and stakeholders. We connected through surveys and focus groups to determine what services were important to retain, improve and/or grow, and where there may be gaps in service.

This will culminate in a strategic plan for investment and growth in the coming year and a commitment of the Board to providing the organisation with the capacity it needs not only to meet current demand, but to drive strategic objectives forward via tangible deliverables.

(8) Demonstrating Impact

BAVO is monitored in a range of ways via various agencies and funders for both core and project activity. We provide quantitative and qualitative monitoring returns in various formats such as outcome report cards, case studies, film, stats, and key performance indicator (KPI) data as prescribed by the funder. We also undertake annual reviews and audits with funders, and we have been successful in achieving a range of targets set by these bodies.

Under the agreed Third Sector Support Wales core outcomes framework, the KPIs were as follows:

2024 2023
Organisations supported with direct advice 285 262
Individuals supported with volunteering 250 176
Funding applications supported £665,513 £287,618
Funding distributed £178,653 £202,535
Completed enquiries 1,594 1,191

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BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS (BAVO)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

STRATEGIC REPORT Financial review

Financial position

Our work is made possible by a mixture of external funding, for which we express our thanks to funders, and self-generated income as set out in note 4 of the accounts.

During the year, the charity's incoming resources were £1,030,852 of which £393,035 was for core activity and £637,817 was for restricted purposes, including grant distribution.

At the end of the year the charity's overall financial resources increased by £132,088 resulting in total funds at the year-end of £2,678,706. Of this £541,069 relates to restricted funds attributable to specific projects; £960,174 relates to unrestricted general funds, and the Board has designated a further £1,177,463 to meet specific future needs in line with its newly commissioned strategic plan and objectives, and in alignment with its risk review.

Details of planned designated funds over the next 5-year mid-term strategy is shown in the accounts, as are the amounts of funding held as fixed assets. The general undesignated funds provide for sufficient cashflow requirements in the year and incorporates the charity commission recommended practice and allowing for contingencies and maintaining staff levels to continue delivery at current levels in line with the organisations risk review given the current era of financial instability in the general wider economy, and the future cuts being proposed by public sector funders.

Investment policy and objectives

The trustees reviewed the investment policy and considered the need for a balance between liquidity and return on investment, and the most appropriate low risk route to this end.

As such, BAVO uses a spread of current and short-term deposit accounts to ensure appropriate access to funds.

Approximately 50% of the unrestricted reserve is placed via the Flagstone investment platform, into a spread of the highest possible interest rate providers available. BAVO has deposited funds into various short (3 months) to medium (18 months) fixed term accounts, that are considered low risk and offer FSCS protection. Regard is given to stability, ethical status and social investment aims of the relevant body insofar as possible.

Reserves policy

Trustees have set out the charity's reserves policy and this ensures the organisation can meet its legal obligations. The policy is an integral part of the charity's strategic plan. It has been set to allow the reserves to align to the medium-term strategy set out by the Board. The policy also takes into account the budgeting and risk management process, and includes the following aspects:

Designated funds represent planned spending which will be defrayed in the medium term.

The remaining unrestricted reserves are considered to be the true free reserves held by the charity. The Board will review the reserves policy annually taking into account the financial, strategic, environmental, operational and risk positions

Taxation Status

The charity is exempt from corporation tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

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BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS (BAVO)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity is a company limited by guarantee governed by its Memorandum and Articles of Association. The company was incorporated on 4 July 2011 and has been operational since April 2012, when it took over the undertakings of a non-incorporated charity established in 1998. The trustees/directors are elected at each AGM from nominations received from member organisations and/or Board recommendations and serve for three years after which period they may put themselves forward for re-appointment. The Board must have at least 5 members, to a maximum of 9, with up to one third of them due for re-appointment in any year.

The Board of trustees meets at least quarterly. A finance sub-committee may be delegated to oversee the charity's financial operation. The chief executive, appointed by the committee, oversees the day-to-day operations. Staff report to the chief executive on specific projects and services, administration, and finance. Further details are shown under administrative information.

Newly appointed trustees receive an induction. Training and detailed information on BAVO is provided through a series of meetings with the Chair, other trustees and the Chief Executive.

The pay structure of employees is set according to nationally negotiated NJC tables commensurate to the advertised role.

Related parties

No trustee received remuneration or other benefit from their work with the charity during the year.

BAVO is an independent organisation but remains a member of Third Sector Support Wales (TSSW) infrastructure, comprising Wales Council for Voluntary Action (WCVA) and fellow County Voluntary Councils across Wales. All transactions are at arm's length.

Risk Management

The Board regularly reviews the major strategic, financial and operational risks faced by the charity, and has established procedures to mitigate those risks. Financial risks are being reduced by agreeing funding for both core functions and specific projects for periods longer than twelve months and by seeking to build up free reserves as indicated above.

Status

The association is governed by its memorandum and articles of association, which established the objects and powers of the charity, and is governed by a Board made up of Board nominations and nominees of member organisations who are elected at each AGM.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

07691764 (England and Wales)

Registered Charity number

1146543

Registered office

112-113 Commercial Street Maesteg CF34 9DL

Trustees

Stephen John Curry Marged Griffiths Mari Major Richard Young (resigned 11.6.24) Phil Fiander Phillip John Amanda Edwards

Key management personnel

Chief Executive Officer: Heidi Bennett Operations and Partnership Manager: Kay Harries

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BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS (BAVO)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

REFERENCE AND ADMINISTRATIVE DETAILS

Auditors

Bevan Buckland LLP Chartered Accountants And Statutory Auditors Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA

Bankers

Co-operative Bank, Delf House, Skelmersdale WN8 6WT

CAF Bank Ltd, 25 Kings Hill Avenue, Kings Hill, West Malling Kent. ME19 4TA

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Bridgend Association Of Voluntary Organisations (BAVO) for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including 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:

AUDITORS

The auditors, Bevan Buckland LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ............................................. and signed on the board's behalf by: Dec 18, 2024

Marged Sian Griffiths (Dec 18, 2024 19:06 GMT) ........................................................................

Marged Griffiths - Trustee

Page 6

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS (BAVO)

Opinion

We have audited the financial statements of Bridgend Association Of Voluntary Organisations (BAVO) (the 'charitable company') for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of 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).

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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company 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 charitable company'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 Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, 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 this gives rise to a material misstatement in the financial statements themselves. 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

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

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Page 7

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS (BAVO)

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the 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 charitable company'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 charitable company or to cease operations, or have no realistic alternative but to do so.

Our 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 a Report of the Independent Auditors 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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.

We discussed our audit independence complying with the Revised Ethical Standard 2019 with the engagement team members whilst planning the audit and continually monitored our independence throughout the process.

Identifying and assessing potential risks related to irregularities.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following: - enquiring of management, including obtaining and reviewing supporting documentation, concerning the Charity's policies and procedures relating to:

Page 8

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS (BAVO)

Audit response to risks identified

In addition to the above, our procedures to respond to risks identified included the following:

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

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 Report of the Independent Auditors.

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 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 charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Michael Jones (Senior Statutory Auditor) for and on behalf of Bevan Buckland LLP Chartered Accountants And Statutory Auditors Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA

Date: .............................................

Page 9

BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS (BAVO)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
3
Charitable activities
6
Charitable activities
Other trading activities
4
Investment income
5
Total
EXPENDITURE ON
Charitable activities
7
Charitable activities
NET INCOME/(EXPENDITURE)
Transfers between funds
17
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
452
332,097
21,316
39,170
393,035
220,136
172,899
(2,167)
170,732
1,966,905
2,137,637		 Restricted
funds
£
500
637,317
-
-
637,817
678,628
(40,811)
2,167
(38,644)
579,713
541,069		 2024
Total
funds
£
952
969,414
21,316
39,170
1,030,852
898,764
132,088
-
132,088
2,546,618
2,678,706		 2023
Total
funds
£
515
1,039,380
23,675
12,777
1,076,347
938,547
137,800
-
137,800
2,408,818
2,546,618

The notes form part of these financial statements

Page 10

BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS (BAVO)

BALANCE SHEET 31 MARCH 2024

2024 2023
Unrestricted Restricted Total Total
funds funds funds funds
Notes £ £ £ £
FIXED ASSETS
Tangible assets 14 169,463 - 169,463 178,818
CURRENT ASSETS
Debtors 15 127,682 - 127,682 76,469
Cash at bank and in hand 1,878,044 541,069 2,419,113 2,403,039
2,005,726 541,069 2,546,795 2,479,508
CREDITORS
Amounts falling due within one year 16 (37,552) - (37,552) (111,708)
NET CURRENT ASSETS 1,968,174 541,069 2,509,243 2,367,800
TOTAL ASSETS LESS CURRENT LIABILITIES TOTAL ASSETS LESS CURRENT LIABILITIES 2,137,637 541,069 2,678,706 2,546,618
NET ASSETS 2,137,637 541,069 2,678,706 2,546,618
FUNDS 17
Unrestricted funds 2,137,637 1,966,905
Restricted funds 541,069 579,713
TOTAL FUNDS 2,678,706 2,546,618

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: Dec 18, 2024

Marged Sian Griffiths (Dec 18, 2024 19:06 GMT) ~~MGBAn~~

.............................................

Marged Griffiths - Trustee

............................................. Stephen John Curry - Trustee

The notes form part of these financial statements

Page 11

BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS (BAVO)

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash (used in)/provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net cash provided by investing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2024
£
(19,060)
(19,060)
(4,036)
39,170
35,134
16,074
2,403,039
2,419,113		 2023
£
31,712
31,712
(2,732)
12,777
10,045
41,757
2,361,282
2,403,039

The notes form part of these financial statements

Page 12

BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS (BAVO)

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024

1.
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
2024
£
Net income for the reporting period (as per the Statement of Financial
Activities)
132,088
Adjustments for:
Depreciation charges
13,390
Interest received
(39,170)
(Increase)/decrease in debtors
(51,213)
Decrease in creditors
(74,155)
Net cash (used in)/provided by operations
(19,060)
2.
ANALYSIS OF CHANGES IN NET FUNDS
At 1.4.23
Cash flow
£
£
Net cash
Cash at bank and in hand
2,403,039
16,074
2,403,039
16,074
Total
2,403,039
16,074		 2023
£
137,800
11,787
(12,777)
64,435
(169,533)
31,712
At 31.3.24
£
2,419,113
2,419,113
2,419,113

The notes form part of these financial statements

Page 13

BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS (BAVO)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Bridgend Association Of Voluntary Organisations is a charitable company, limited by guarantee, registered in England and Wales. The charity's registered number and registered office address can be found on the Reference and Administrative Details page.

The presentation currency of the financial statements is the Pound Sterling (£).

2. 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.

At the time of approving the accounts, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The trustees have reviewed the reserves policy which supports the long-term business plan of the charity.

Thus, the trustees continue to adopt the going concern basis of accounting in preparing the accounts.

Critical accounting judgements and key sources of estimation uncertainty

The charity makes estimates and assumptions concerning the future. The resulting accounting estimates will by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next year are addressed below:

The annual depreciation charge for tangible assets is sensitive to changes in the estimate useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimate, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

The charity makes estimates of the recoverable value of debtors. When assessing the impairment of debtors, management consider factors including the current credit rating of the debtor, the ageing profile of debtors and historic experience.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Income from government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. No value has been placed on the support given to the charity by way of volunteer assistance

Room hire income is included in the period in which the rental takes place.

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.

Page 14

continued...

BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS (BAVO)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Expenditure

Resources expended are allocated to a specific activity & fund where the cost relates directly to that activity & fund.

Support costs are those costs incurred directly in support of expenditure on the objects of the charity, and include the costs of monitoring performance of ongoing activities. Costs directly attributable to the objects of the charity are shown as expenditure on operational programmes, advice & information in the notes to the accounts.

Grants Payable

Grants payable are accounted for in the period in which the performance conditions attaching to the grant payment are met or, where no performance conditions apply, when a legal or constructive obligation arises. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

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 company has a present obligation (legal and constructive) 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.

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 - 2% on cost Fixtures and fittings - 20% on cost and 10% on cost Computer equipment - 33% on cost

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.

Designated funds are unrestricted funds of the charity, which the trustees have decided at their discretion to set aside to use for a specific purpose.

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.

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

Short-term employee benefits that are expected to be settled wholly before twelve months after the end of the annual reporting period in which the employees render the related service:

(a) wages, salaries and social security contributions;

(b) time in lieu owed to the employee.

Page 15

continued...

BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS (BAVO)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Contributions are made by the charity to a group personal pension scheme which is independently administered, on the basis of a contribution by the charity of 8% of gross pay. Employees may also choose to contribute an additional amount from their gross pay. The amounts chargeable to expenditure represent amounts payable by the charity into the scheme during the year. There is no further liability of the charity in respect of the scheme, or any predecessor scheme.

Financial Instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Page 16

continued...

BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS (BAVO)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

3.
DONATIONS AND LEGACIES
Donations
4.
OTHER TRADING ACTIVITIES
Hire of rooms and equipment
Letting of office units
Training and consultancy
5.
INVESTMENT INCOME
Deposit account interest
6.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Grants
Charitable activities
Grants received, included in the above, are as follows:
Core - Wales Council of Voluntary Action (WCVA)
Core - Bridgend County Borough Council (BCBC)
Core - Cwm Taf Morgannwg University Health Board (CTM)
CTM Mental Health Development
CTM Building Strong Bridges Project
BCBC Transformation Resilient Communities
BCBC RIF Community Navigators
BCBC Food Poverty Grants
BCBC Focus Forward Funding
BCBC Dementia Friendly Communities Project
BCBC Sundry Project Funding
WCVA - Gwirvol Grants
BCBC Social Isolation
BCBC Carers Respite
BCBC Summer Fun Play Scheme
BCT ILC Driving Change
BCBC Warm Hubs Grant
BCBC Valleys / LCC Gap
CTM PSB		 2024
£
952
2024
£
4,934
12,662
3,720
21,316
2024
£
39,170
2024
£
969,414
2024
£
213,195
61,230
16,416
94,940
41,657
165,249
170,784
114,660
20,000
12,000
13,256
6,650
31,377
-
-
-
-
-
8,000
969,414		 2023
£
515
2023
£
4,594
15,916
3,165
23,675
2023
£
12,777
2023
£
1,039,380		 2023
£
515
2023
£
4,594
15,916
3,165
23,675
2023
£
12,777
2023
£
196,901
55,412
16,173
93,537
41,042
171,606
178,363
-
20,000
10,000
5,000
6,650
22,727
50,000
50,278
40,321
51,913
9,457
20,000
1,039,380

Page 17

continued...

BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS (BAVO)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

7. CHARITABLE ACTIVITIES COSTS

Direct
Costs
£
Charitable activities
588,946
GRANTS PAYABLE
Charitable activities
The total grants paid to individuals during the year was as follows:
Dementia Freindly
GwirVol - Youth Led Grants
Community Grants - ICF
SolarPanel
Food Poverty
Carers Respite
Loneliness and Social Isolation Fund
Summer Fun PS (SFPS)
Winter of Wellness
ILC Driving Change
WCVA Winter Pressures
Warm Hubs Grant		 Grant
funding of
activities
(see note
8)
£
153,594		 Support
costs (see
note 9)
£
156,224
2024
£
153,594
2024
£
799
4,977
-
(3,956)
114,624
(2,567)
33,471
-
-
11,296
-
(5,050)
153,594		 Totals
£
898,764
2023
£
202,534
2023
£
(1)
6,585
3,000
21,479
-
31,714
13,866
42,392
(600)
30,095
2,091
51,913
202,534

8. GRANTS PAYABLE

The negative amounts shown above are in relation to the clawback of previously committed grants to awardees who subsequently did not meet the required criteria.

9. SUPPORT COSTS

Charitable activities
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets		 Finance
£
478		 Support
costs
£
155,746
2024
£
13,391		 Totals
£
156,224
2023
£
11,788

10. NET INCOME/(EXPENDITURE)

Depreciation - owned assets

Page 18

continued...

BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS (BAVO)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

11. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.

12. STAFF COSTS

Wages and salaries 2024
£
611,467
611,467		 2023
£
595,054
595,054

The average monthly number of employees during the year was as follows:

Senior management
Operational and office staff		 2024
2
20
22		 2023
2
21
23

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

The total employee benefits received during the year of the key management personnel of the charity was £105,159 (2023: £97,624).

13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Donations and legacies
Charitable activities
Charitable activities
Other trading activities
Investment income
Total
EXPENDITURE ON
Charitable activities
Charitable activities
NET INCOME/(EXPENDITURE)
Transfers between funds
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward		 Unrestricted
funds
£
15
313,486
23,675
12,777
349,953
196,395
153,558
151
153,709
1,813,196		 Restricted
funds
£
500
725,894
-
-
726,394
742,152
(15,758)
(151)
(15,909)
595,622		 Total
funds
£
515
1,039,380
23,675
12,777
1,076,347
938,547
137,800
-
137,800
2,408,818

Page 19

continued...

BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS (BAVO)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

13.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
funds
£
TOTAL FUNDS CARRIED FORWARD
1,966,905
14.
TANGIBLE FIXED ASSETS
Fixtures
Freehold
and
property
fittings
£
£
COST
At 1 April 2023
605,190
37,954
Additions
-
-
At 31 March 2024
605,190
37,954
DEPRECIATION
At 1 April 2023
429,108
37,748
Charge for year
11,304
167
At 31 March 2024
440,412
37,915
NET BOOK VALUE
At 31 March 2024
164,778
39
At 31 March 2023
176,082
206
15.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Grant debtors
Prepayments and accrued income
16.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income		 13.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
funds
£
TOTAL FUNDS CARRIED FORWARD
1,966,905
14.
TANGIBLE FIXED ASSETS
Fixtures
Freehold
and
property
fittings
£
£
COST
At 1 April 2023
605,190
37,954
Additions
-
-
At 31 March 2024
605,190
37,954
DEPRECIATION
At 1 April 2023
429,108
37,748
Charge for year
11,304
167
At 31 March 2024
440,412
37,915
NET BOOK VALUE
At 31 March 2024
164,778
39
At 31 March 2023
176,082
206
15.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Grant debtors
Prepayments and accrued income
16.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income
Restricted
funds
£
579,713
Computer
equipment
£
48,158
4,036
52,194
45,628
1,920
47,548
4,646
2,530
2024
£
125,991
1,691
127,682
2024
£
6,402
10,786
5,274
15,090
37,552		 Total
funds
£
2,546,618
Totals
£
691,302
4,036
695,338
512,484
13,391
525,875
169,463
178,818
2023
£
71,683
4,786
76,469
2023
£
27,226
11,389
15,622
57,471
111,708

Page 20

continued...

BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS (BAVO)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

17. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Critical Costs
Premises Maintenance Reserve
Computer & Telecommunications Reserve
Project & Resources Development
Organisation Development
Governance/Quality/Legal
Strategic Support
Designated Capital Assets
Restricted funds
CTM Health Board Local Mental Health
Suncredit Solar Grants
Youth Support Network
Youth Volunteering
BCBC ICF Community Navigators Funding
BCBC Transformation Funding
CTM Building Strong Bridges/HSCWB
BCBC Dementia Friendly Communities
Health Partnerhsip Activity
Befriending Project
BCBC Community Activities
Core COVID Support
BCBC Food Poverty Grants
BCBC Carers Respite Grants
BCT ILC Driving Change
BCBC Warm Hubs Grant
TOTAL FUNDS		 At 1.4.23
£
1,058,087
275,000
40,000
35,000
50,000
10,000
5,000
315,000
178,818
1,966,905
13,090
19,639
1,935
-
832
214,439
5,027
22,310
59,496
27,986
36,011
132,992
-
15,326
30,630
-
579,713
2,546,618		 Net
movement
in funds
£
172,899
-
-
-
-
-
-
-
-
172,899
3,925
3,956
-
300
(2)
-
178
4,002
-
(32,247)
(16,000)
-
36
2,567
(12,576)
5,050
(40,811)
132,088		 Transfers
between
funds
£
(270,812)
25,000
(10,000)
(20,000)
(50,000)
-
10,000
323,000
(9,355)
(2,167)
-
-
-
-
-
-
-
-
-
4,261
-
-
-
-
-
(2,094)
2,167
-		 At
31.3.24
£
960,174
300,000
30,000
15,000
-
10,000
15,000
638,000
169,463
2,137,637
17,015
23,595
1,935
300
830
214,439
5,205
26,312
59,496
-
20,011
132,992
36
17,893
18,054
2,956
541,069
2,678,706

Page 21

continued...

BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS (BAVO)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

17. MOVEMENT IN FUNDS - continued

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

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 393,035 (220,136) 172,899
Restricted funds
CTM Health Board Local Mental Health 94,940 (91,015) 3,925
Suncredit Solar Grants - 3,956 3,956
Youth Volunteering 6,650 (6,350) 300
BCBC ICF Community Navigators Funding 170,784 (170,786) (2)
BCBC Transformation Funding 165,249 (165,249) -
CTM Building Strong Bridges/HSCWB 41,657 (41,479) 178
BCBC Dementia Friendly Communities 12,250 (8,248) 4,002
Befriending Project 31,627 (63,874) (32,247)
BCBC Community Activities - (16,000) (16,000)
BCBC Food Poverty Grants 114,660 (114,624) 36
BCBC Carers Respite Grants - 2,567 2,567
BCT ILC Driving Change - (12,576) (12,576)
BCBC Warm Hubs Grant - 5,050 5,050
637,817 (678,628) (40,811)
TOTAL FUNDS 1,030,852 (898,764) 132,088

Page 22

continued...

BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS (BAVO)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

17. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Critical Costs
Premises Maintenance Reserve
Computer & Telecommunications Reserve
Project & Resources Development
Organisation Development
Governance/Quality/Legal
Strategic Support
Designated Capital Assets
Restricted funds
CTM Health Board Local Mental Health
Suncredit Solar Grants
Youth Support Network
Youth Volunteering
BCBC ICF Community Navigators Funding
BCBC Transformation Funding
BCBC Transformation Funding Grants
Building Communities Trust Invest Local
Caerau Project
CTM Building Strong Bridges/HSCWB
BCBC Dementia Friendly Communities
Health Partnerhsip Activity
Befriending Project
BCBC Community Activities
Core COVID Support
POW Fundraising
BCBC Carers Respite Grants
WCVA Winter Pressures
BCBC Unsung Heroes
BCT ILC Driving Change
TOTAL FUNDS		 At 1.4.22
£
895,322
275,000
40,000
35,000
50,000
10,000
5,000
315,000
187,874
1,813,196
10,241
46,118
1,935
2,050
993
193,449
15,963
9,878
3,746
21,204
59,496
48,515
23,454
132,992
145
2,040
2,091
4,513
16,799
595,622
2,408,818		 Net
movement
in funds
£
165,345
-
-
-
-
-
-
-
(11,787)
153,558
2,849
(21,479)
-
(2,075)
(161)
-
27
-
1,281
1,106
-
(20,529)
12,557
-
(145)
13,286
(2,091)
(4,513)
4,129
(15,758)
137,800		 Transfers
between
funds
£
(2,580)
-
-
-
-
-
-
-
2,731
151
-
(5,000)
-
25
-
20,990
(15,990)
(9,878)
-
-
-
-
-
-
-
-
-
-
9,702
(151)
-		 At
31.3.23
£
1,058,087
275,000
40,000
35,000
50,000
10,000
5,000
315,000
178,818
1,966,905
13,090
19,639
1,935
-
832
214,439
-
-
5,027
22,310
59,496
27,986
36,011
132,992
-
15,326
-
-
30,630
579,713
2,546,618

Page 23

continued...

BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS (BAVO)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

17. MOVEMENT IN FUNDS - continued

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

Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 349,953 (184,608) 165,345
Designated Capital Assets - (11,787) (11,787)
349,953 (196,395) 153,558
Restricted funds
CTM Health Board Local Mental Health 93,537 (90,688) 2,849
Suncredit Solar Grants - (21,479) (21,479)
Youth Volunteering 6,650 (8,725) (2,075)
BCBC ICF Community Navigators Funding 178,363 (178,524) (161)
BCBC Transformation Funding Grants 171,606 (171,579) 27
CTM Building Strong Bridges/HSCWB 41,042 (39,761) 1,281
BCBC Dementia Friendly Communities 10,000 (8,894) 1,106
Befriending Project 23,227 (43,756) (20,529)
BCBC Community Activities 59,735 (47,178) 12,557
POW Fundraising - (145) (145)
BCBC Carers Respite Grants 50,000 (36,714) 13,286
WCVA Winter Pressures - (2,091) (2,091)
BCBC Unsung Heroes - (4,513) (4,513)
BCT ILC Driving Change 40,321 (36,192) 4,129
BCBC Warm Hubs Grant 51,913 (51,913) -
726,394 (742,152) (15,758)
TOTAL FUNDS 1,076,347 (938,547) 137,800

Page 24

continued...

BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS (BAVO)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

17. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Critical Costs
Premises Maintenance Reserve
Computer & Telecommunications Reserve
Project & Resources Development
Organisation Development
Governance/Quality/Legal
Strategic Support
Designated Capital Assets
Restricted funds
CTM Health Board Local Mental Health
Suncredit Solar Grants
Youth Support Network
Youth Volunteering
BCBC ICF Community Navigators Funding
BCBC Transformation Funding
BCBC Transformation Funding Grants
Building Communities Trust Invest Local
Caerau Project
CTM Building Strong Bridges/HSCWB
BCBC Dementia Friendly Communities
Health Partnerhsip Activity
Befriending Project
BCBC Community Activities
Core COVID Support
BCBC Food Poverty Grants
POW Fundraising
BCBC Carers Respite Grants
WCVA Winter Pressures
BCBC Unsung Heroes
BCT ILC Driving Change
BCBC Warm Hubs Grant
TOTAL FUNDS		 At 1.4.22
£
895,322
275,000
40,000
35,000
50,000
10,000
5,000
315,000
187,874
1,813,196
10,241
46,118
1,935
2,050
993
193,449
15,963
9,878
3,746
21,204
59,496
48,515
23,454
132,992
-
145
2,040
2,091
4,513
16,799
-
595,622
2,408,818		 Net
movement
in funds
£
338,244
-
-
-
-
-
-
-
(11,787)
326,457
6,774
(17,523)
-
(1,775)
(163)
-
27
-
1,459
5,108
-
(52,776)
(3,443)
-
36
(145)
15,853
(2,091)
(4,513)
(8,447)
5,050
(56,569)
269,888		 Transfers
between
funds
£
(273,392)
25,000
(10,000)
(20,000)
(50,000)
-
10,000
323,000
(6,624)
(2,016)
-
(5,000)
-
25
-
20,990
(15,990)
(9,878)
-
-
-
4,261
-
-
-
-
-
-
-
9,702
(2,094)
2,016
-		 At
31.3.24
£
960,174
300,000
30,000
15,000
-
10,000
15,000
638,000
169,463
2,137,637
17,015
23,595
1,935
300
830
214,439
-
-
5,205
26,312
59,496
-
20,011
132,992
36
-
17,893
-
-
18,054
2,956
541,069
2,678,706

Page 25

continued...

BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS (BAVO)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

17. 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
General fund
Designated Capital Assets
Restricted funds
CTM Health Board Local Mental Health
Suncredit Solar Grants
Youth Volunteering
BCBC ICF Community Navigators Funding
BCBC Transformation Funding
BCBC Transformation Funding Grants
CTM Building Strong Bridges/HSCWB
BCBC Dementia Friendly Communities
Befriending Project
BCBC Community Activities
BCBC Food Poverty Grants
POW Fundraising
BCBC Carers Respite Grants
WCVA Winter Pressures
BCBC Unsung Heroes
BCT ILC Driving Change
BCBC Warm Hubs Grant
TOTAL FUNDS		 Incoming
resources
£
742,988
-
742,988
188,477
-
13,300
349,147
165,249
171,606
82,699
22,250
54,854
59,735
114,660
-
50,000
-
-
40,321
51,913
1,364,211
2,107,199		 Resources
expended
£
(404,744)
(11,787)
(416,531)
(181,703)
(17,523)
(15,075)
(349,310)
(165,249)
(171,579)
(81,240)
(17,142)
(107,630)
(63,178)
(114,624)
(145)
(34,147)
(2,091)
(4,513)
(48,768)
(46,863)
(1,420,780)
(1,837,311)		 Movement
in funds
£
338,244
(11,787)
326,457
6,774
(17,523)
(1,775)
(163)
-
27
1,459
5,108
(52,776)
(3,443)
36
(145)
15,853
(2,091)
(4,513)
(8,447)
5,050
(56,569)
269,888

Transfers between funds

During the year the charity held a number of discussions with funders in order to use some historic restricted funds and it was agreed these could be repurposed for new restricted initiatives. Where the original funder no longer exists the funds have been transferred to similar restricted activities.

18. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2024.

19. RESTRICTED FUNDS

There are 15 restricted fund with balances at the year end, and 16 restricted funds being utilised during the year, they relate to grants being received in this year or the previous year to fund specific activities and expenditure.

The restricted funds are:

CTMLMHG :

Mental health development service support

Suncredit:

Community grants for the areas of Laleston, Penyfai and Wildmill

Youth Support Network:

For voluntary youth services support

Page 26

continued...

BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS (BAVO)

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

19. RESTRICTED FUNDS - continued

Youth Volunteering:

Project grant for youth led projects

ICF Navigators:

For community navigation project revenue and resources

Transformation:

For Common access point, network and development activity

CTM Building Strong Bridges:

Health and social care development service

BCBC Dementia FC:

Project for improving awareness, skills and developing DFC

Health Partnership Activity:

To support community wellbeing development and activity

Befriending:

To deliver a community companions befriending project

BCBC Community Activities:

To develop community projects and opportunities to reduce isolation and improve social mobility

Core Covid Support:

To support core service and facilitate community resourcefulness and covid/cost of living recovery

BCBC Food Poverty Grants:

Grant fundholder: to support the work of the community food partnership through distribution of grants to the sector

BCBC Carers Respite Grants:

Grant fundholder: to support the work of the carers partnership through distribution of grants to the sector

BCT ILC Driving Change:

Grant fundholder for the Invest Local Caerau partnership which distributes grants for community activity in Caerau.

BCBC Warm Hubs grants :

Grant fundholder: support warm hub/social isolation projects through distribution of grants

20. DESIGNATED FUNDS

There are 7 designated funds with balances at the year end:

The above designated funds are set to align with the ambitions detailed in the renewed mid term strategic plan which includes investment in digital and IT, increasing staff capacity, R & E, Sector Leadership support, developing local fundraising, networks and workforce development.

-Fixed assets,this represents the NBV of the fixed assets at the year end £169,463

Page 27

BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS (BAVO)

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Other trading activities
Hire of rooms and equipment
Letting of office units
Training and consultancy
Investment income
Deposit account interest
Charitable activities
Grants
Total incoming resources
EXPENDITURE
Charitable activities
Wages
Premises costs
Office costs
Training and other staff costs
Professional fees
Grants distributed
Support costs
Finance
Bank charges
Support costs
Wages
Premises costs
Accountancy and legal fees
Office costs
Training and other staff costs
Professional fees
Freehold property
Fixtures and fittings
Computer equipment
Total resources expended
Net income		 2024
£
952
4,934
12,662
3,720
21,316
39,170
969,414
1,030,852
501,403
14,427
49,198
17,169
6,749
153,594
742,540
478
110,064
3,167
13,075
10,800
3,769
1,481
11,303
167
1,920
155,746
898,764
132,088		 2023
£
515
4,594
15,916
3,165
23,675
12,777
1,039,380
1,076,347
484,969
10,869
67,720
18,420
688
202,534
785,200
246
110,085
2,467
9,052
15,372
4,181
157
11,304
256
227
153,101
938,547
137,800

This page does not form part of the statutory financial statements

Page 28

Audited Accounts

Final Audit Report

2024-12-18

Created: 2024-12-18 By: Kayleigh Lang (kayleigh.lang@bevanbuckland.co.uk) Status: Signed Transaction ID: CBJCHBCAABAALpxHoUA1R97BnQ59ASmtXPq8YS8Pi3N0

"Audited Accounts" History

2024-12-18 - 2:36:38 PM GMT

Document emailed to m.griffiths261@btinternet.com for signature

2024-12-18 - 2:38:36 PM GMT

2024-12-18 - 7:03:30 PM GMT

Document emailed to steve CURRY (stevejcurry@yahoo.co.uk) for signature 2024-12-18 - 7:07:01 PM GMT

2024-12-18 - 9:24:02 PM GMT