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
CI*RohhknnuthlRhrfoJf[ebLw•￿4n.' 1146543

8. 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
9. 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.
10. 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.
11. 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.
12. We confirm that the charity has not contracted for any capital expenditure other than as disclosed
in the financial statements.
13. 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.
14. 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.
15. 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.
16. 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.
17. 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.
18. 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.
19. 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.
20. 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 • %V*VW.bavo.org.uk
ODD,.
CuwiNtslFthKyc*rri". 07691161


**----- Start of picture text -----**<br>
•  All correspondence  ding any serious incident<br>reports.<br>sociation r:y rganisations<br>•  The accrual for grant -ialtmlr i:;pJiP• at the year end<br>**----- End of picture text -----**<br>


   - All available grant amounts receivable during the year to 31 March 2024 have been claimed from the relevant funders and included within income. 

   - We confirm the authorisation of expenses via the review and authorisation of BAGS payment runs 

21. We acknowledge our legal responsibilities regarding disclosure of information to you as auditors and confirm that: 

   - so far as each trustee is aware, there is no relevant audit information of which you as auditors are unaware; and 

   - each trustee has taken all the steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that you are aware of that information. 

22. We acknowledge that ii is a criminal offence to knowingly or recklessly make you as an auditor, a statement (oral or written) that conveys, or purports to convey, information or explanations that you require in your capacity as auditor, or are entitled to require, that is misleading, false or deceptive in a material particular. 

Yours faithfully, 

Signed on behalf of the board of trustees 

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

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


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




## **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: 

- to support community organisations, not-for-profits and social enterprises, 

- to build the capacity of third sector organisations, 

- to provide them with the necessary support, information and services to enable them to pursue or contribute to any charitable and not for profit purposes, 

- to promote, organise and facilitate co-operation and partnership working between third sector, statutory and other relevant bodies in the achievement of the above objectives. 

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: 

- to provide support, guidance, training and assistance for community and voluntary organisations within the borough, 

- to help community and voluntary groups to access funding in order to meet their organisations objectives, 

- to facilitate the capacity building and expansion of the Third sector and to assist in the training and development of volunteers. 

Page 1 



## **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 

Page 2 



## **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|



Page 3 



## **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: 

- Contingency planning - the critical costs 

- Strategic priorities -medium term plan to support the charity's delivery for member benefit 

- Cash flow needs where work is retrospectively claimed 

- A level of reserves to meet unexpected and uninsured costs 

- Capital reserves for building and equipment needs 

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. 

Page 4 



## **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 

Page 5 



## **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 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charity SORP; 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. 

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: 

- there is no relevant audit information of which the charitable company's auditors are unaware; and 

- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information. 

## **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: 

- give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## **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: 

- the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the Report of the Trustees has been prepared in accordance with applicable legal requirements. 

## **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: 

- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of trustees' remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit. 

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: 

   - identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance; 

   - detecting and responding to the risks of fraud and whether they have knowledge of any actual. suspected or alleged fraud; 

   - the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations; 

- discussing among the engagement team how and where fraud might occur in the financial statements and any potential indicators of fraud. 

- obtaining an understanding of the legal and regulatory frameworks that the Charity operates in, focusing on those laws and regulations that had a direct effect on the financial statements or that had a fundamental effect on the operations of the Charity, The key laws and regulations we considered in this context included the UK Companies Act and relevant tax legislation. 

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: 

- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with relevant laws and regulations; 

- enquiring of management concerning actual and potential litigation and claims; performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; 

- - reading minutes of meetings of those charged with governance; 

- in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; 

- assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and 

- - evaluating the operational rationale of any significant transactions that are unusual or outside the normal course of operations. 

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<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>3<br>**Charitable activities**<br>6<br>Charitable activities<br>Other trading activities<br>4<br>Investment income<br>5<br>**Total**<br>**EXPENDITURE ON**<br>**Charitable activities**<br>7<br>Charitable activities<br>**NET INCOME/(EXPENDITURE)**<br>**Transfers between funds**<br>17<br>**Net movement in funds**<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>**TOTAL FUNDS CARRIED FORWARD**|Unrestricted<br>funds<br>£<br>452<br>332,097<br>21,316<br>39,170<br>393,035<br>220,136<br>172,899<br>(2,167)<br>170,732<br>1,966,905<br>2,137,637|Restricted<br>funds<br>£<br>500<br>637,317<br>-<br>-<br>637,817<br>678,628<br>(40,811)<br>2,167<br>(38,644)<br>579,713<br>541,069|2024<br>Total<br>funds<br>£<br>952<br>969,414<br>21,316<br>39,170<br>1,030,852<br>898,764<br>132,088<br>-<br>132,088<br>2,546,618<br>2,678,706|2023<br>Total<br>funds<br>£<br>515<br>1,039,380<br>23,675<br>12,777|
|---|---|---|---|---|
|||||1,076,347|
|||||938,547|
|||||137,800<br>-|
|||||137,800<br>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<br>**Cash flows from operating activities**<br>Cash generated from operations<br>1<br>Net cash (used in)/provided by operating activities<br>**Cash flows from investing activities**<br>Purchase of tangible fixed assets<br>Interest received<br>Net cash provided by investing activities<br>**Change in cash and cash equivalents in**<br>**the reporting period**<br>**Cash and cash equivalents at the**<br>**beginning of the reporting period**<br>**Cash and cash equivalents at the end of**<br>**the reporting period**|2024<br>£<br>(19,060)<br>(19,060)<br>(4,036)<br>39,170<br>35,134<br>16,074<br>2,403,039<br>2,419,113|2023<br>£<br>31,712<br>31,712<br>(2,732)<br>12,777<br>10,045<br>41,757<br>2,361,282<br>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.**<br>**RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**<br>2024<br>£<br>**Net income for the reporting period (as per the Statement of Financial**<br>**Activities)**<br>132,088<br>**Adjustments for:**<br>Depreciation charges<br>13,390<br>Interest received<br>(39,170)<br>(Increase)/decrease in debtors<br>(51,213)<br>Decrease in creditors<br>(74,155)<br>**Net cash (used in)/provided by operations**<br>(19,060)<br>**2.**<br>**ANALYSIS OF CHANGES IN NET FUNDS**<br>At 1.4.23<br>Cash flow<br>£<br>£<br>**Net cash**<br>Cash at bank and in hand<br>2,403,039<br>16,074<br>2,403,039<br>16,074<br>**Total**<br>2,403,039<br>16,074|2023<br>£<br>137,800<br>11,787<br>(12,777)<br>64,435<br>(169,533)<br>31,712<br>At 31.3.24<br>£<br>2,419,113<br>2,419,113<br>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: 

- Useful economic lives of tangible assets 

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. 

- Impairment of debtors 

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.**<br>**DONATIONS AND LEGACIES**<br>Donations<br>**4.**<br>**OTHER TRADING ACTIVITIES**<br>Hire of rooms and equipment<br>Letting of office units<br>Training and consultancy<br>**5.**<br>**INVESTMENT INCOME**<br>Deposit account interest<br>**6.**<br>**INCOME FROM CHARITABLE ACTIVITIES**<br>Activity<br>Grants<br>Charitable activities<br>Grants received, included in the above, are as follows:<br>Core - Wales Council of Voluntary Action (WCVA)<br>Core - Bridgend County Borough Council (BCBC)<br>Core - Cwm Taf Morgannwg University Health Board (CTM)<br>CTM Mental Health Development<br>CTM Building Strong Bridges Project<br>BCBC Transformation Resilient Communities<br>BCBC RIF Community Navigators<br>BCBC Food Poverty Grants<br>BCBC Focus Forward Funding<br>BCBC Dementia Friendly Communities Project<br>BCBC Sundry Project Funding<br>WCVA - Gwirvol Grants<br>BCBC Social Isolation<br>BCBC Carers Respite<br>BCBC Summer Fun Play Scheme<br>BCT ILC Driving Change<br>BCBC Warm Hubs Grant<br>BCBC Valleys / LCC Gap<br>CTM PSB|2024<br>£<br>952<br>2024<br>£<br>4,934<br>12,662<br>3,720<br>21,316<br>2024<br>£<br>39,170<br>2024<br>£<br>969,414<br>2024<br>£<br>213,195<br>61,230<br>16,416<br>94,940<br>41,657<br>165,249<br>170,784<br>114,660<br>20,000<br>12,000<br>13,256<br>6,650<br>31,377<br>-<br>-<br>-<br>-<br>-<br>8,000<br>969,414|2023<br>£<br>515<br>2023<br>£<br>4,594<br>15,916<br>3,165<br>23,675<br>2023<br>£<br>12,777<br>2023<br>£<br>1,039,380|2023<br>£<br>515<br>2023<br>£<br>4,594<br>15,916<br>3,165|
|---|---|---|---|
||||23,675|
||||2023<br>£<br>12,777|
|||2023<br>£<br>196,901<br>55,412<br>16,173<br>93,537<br>41,042<br>171,606<br>178,363<br>-<br>20,000<br>10,000<br>5,000<br>6,650<br>22,727<br>50,000<br>50,278<br>40,321<br>51,913<br>9,457<br>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<br>Costs<br>£<br>Charitable activities<br>588,946<br>**GRANTS PAYABLE**<br>Charitable activities<br>The total grants paid to individuals during the year was as follows:<br>Dementia Freindly<br>GwirVol - Youth Led Grants<br>Community Grants - ICF<br>SolarPanel<br>Food Poverty<br>Carers Respite<br>Loneliness and Social Isolation Fund<br>Summer Fun PS (SFPS)<br>Winter of Wellness<br>ILC Driving Change<br>WCVA Winter Pressures<br>Warm Hubs Grant|Grant<br>funding of<br>activities<br>(see note<br>8)<br>£<br>153,594|Support<br>costs (see<br>note 9)<br>£<br>156,224<br>2024<br>£<br>153,594<br>2024<br>£<br>799<br>4,977<br>-<br>(3,956)<br>114,624<br>(2,567)<br>33,471<br>-<br>-<br>11,296<br>-<br>(5,050)<br>153,594|Totals<br>£<br>898,764|
|---|---|---|---|
||||2023<br>£<br>202,534|
||||2023<br>£<br>(1)<br>6,585<br>3,000<br>21,479<br>-<br>31,714<br>13,866<br>42,392<br>(600)<br>30,095<br>2,091<br>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<br>**NET INCOME/(EXPENDITURE)**<br>Net income/(expenditure) is stated after charging/(crediting):<br>Depreciation - owned assets|Finance<br>£<br>478|Support<br>costs<br>£<br>155,746<br>2024<br>£<br>13,391|Totals<br>£<br>156,224|
|---|---|---|---|
||||2023<br>£<br>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<br>£<br>611,467<br>611,467|2023<br>£<br>595,054|
|---|---|---|
|||595,054|



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

|Senior management<br>Operational and office staff|2024<br>2<br>20<br>22|2023<br>2<br>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**<br>Donations and legacies<br>**Charitable activities**<br>Charitable activities<br>Other trading activities<br>Investment income<br>**Total**<br>**EXPENDITURE ON**<br>**Charitable activities**<br>Charitable activities<br>**NET INCOME/(EXPENDITURE)**<br>**Transfers between funds**<br>**Net movement in funds**<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward|Unrestricted<br>funds<br>£<br>15<br>313,486<br>23,675<br>12,777<br>349,953<br>196,395<br>153,558<br>151<br>153,709<br>1,813,196|Restricted<br>funds<br>£<br>500<br>725,894<br>-<br>-<br>726,394<br>742,152<br>(15,758)<br>(151)<br>(15,909)<br>595,622|Total<br>funds<br>£<br>515<br>1,039,380<br>23,675<br>12,777|
|---|---|---|---|
||||1,076,347|
||||938,547|
||||137,800<br>-|
||||137,800<br>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.**<br>**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**<br>Unrestricted<br>funds<br>£<br>**TOTAL FUNDS CARRIED FORWARD**<br>1,966,905<br>**14.**<br>**TANGIBLE FIXED ASSETS**<br>Fixtures<br>Freehold<br>and<br>property<br>fittings<br>£<br>£<br>**COST**<br>At 1 April 2023<br>605,190<br>37,954<br>Additions<br>-<br>-<br>At 31 March 2024<br>605,190<br>37,954<br>**DEPRECIATION**<br>At 1 April 2023<br>429,108<br>37,748<br>Charge for year<br>11,304<br>167<br>At 31 March 2024<br>440,412<br>37,915<br>**NET BOOK VALUE**<br>At 31 March 2024<br>164,778<br>39<br>At 31 March 2023<br>176,082<br>206<br>**15.**<br>**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Grant debtors<br>Prepayments and accrued income<br>**16.**<br>**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Trade creditors<br>Social security and other taxes<br>Other creditors<br>Accruals and deferred income|**13.**<br>**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**<br>Unrestricted<br>funds<br>£<br>**TOTAL FUNDS CARRIED FORWARD**<br>1,966,905<br>**14.**<br>**TANGIBLE FIXED ASSETS**<br>Fixtures<br>Freehold<br>and<br>property<br>fittings<br>£<br>£<br>**COST**<br>At 1 April 2023<br>605,190<br>37,954<br>Additions<br>-<br>-<br>At 31 March 2024<br>605,190<br>37,954<br>**DEPRECIATION**<br>At 1 April 2023<br>429,108<br>37,748<br>Charge for year<br>11,304<br>167<br>At 31 March 2024<br>440,412<br>37,915<br>**NET BOOK VALUE**<br>At 31 March 2024<br>164,778<br>39<br>At 31 March 2023<br>176,082<br>206<br>**15.**<br>**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Grant debtors<br>Prepayments and accrued income<br>**16.**<br>**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Trade creditors<br>Social security and other taxes<br>Other creditors<br>Accruals and deferred income|<br>Restricted<br>funds<br>£<br>579,713<br>Computer<br>equipment<br>£<br>48,158<br>4,036<br>52,194<br>45,628<br>1,920<br>47,548<br>4,646<br>2,530<br>2024<br>£<br>125,991<br>1,691<br>127,682<br>2024<br>£<br>6,402<br>10,786<br>5,274<br>15,090<br>37,552||Total<br>funds<br>£|
|---|---|---|---|---|
|||||2,546,618|
|||||Totals<br>£<br>691,302<br>4,036<br>695,338<br>512,484<br>13,391<br>525,875<br>169,463<br>178,818<br>2023<br>£<br>71,683<br>4,786<br>76,469<br>2023<br>£<br>27,226<br>11,389<br>15,622<br>57,471<br>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**<br>General fund<br>Critical Costs<br>Premises Maintenance Reserve<br>Computer & Telecommunications Reserve<br>Project & Resources Development<br>Organisation Development<br>Governance/Quality/Legal<br>Strategic Support<br>Designated Capital Assets<br>**Restricted funds**<br>CTM Health Board Local Mental Health<br>Suncredit Solar Grants<br>Youth Support Network<br>Youth Volunteering<br>BCBC ICF Community Navigators Funding<br>BCBC Transformation Funding<br>CTM Building Strong Bridges/HSCWB<br>BCBC Dementia Friendly Communities<br>Health Partnerhsip Activity<br>Befriending Project<br>BCBC Community Activities<br>Core COVID Support<br>BCBC Food Poverty Grants<br>BCBC Carers Respite Grants<br>BCT ILC Driving Change<br>BCBC Warm Hubs Grant<br>**TOTAL FUNDS**|At 1.4.23<br>£<br>1,058,087<br>275,000<br>40,000<br>35,000<br>50,000<br>10,000<br>5,000<br>315,000<br>178,818<br>1,966,905<br>13,090<br>19,639<br>1,935<br>-<br>832<br>214,439<br>5,027<br>22,310<br>59,496<br>27,986<br>36,011<br>132,992<br>-<br>15,326<br>30,630<br>-<br>579,713<br>2,546,618|Net<br>movement<br>in funds<br>£<br>172,899<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>172,899<br>3,925<br>3,956<br>-<br>300<br>(2)<br>-<br>178<br>4,002<br>-<br>(32,247)<br>(16,000)<br>-<br>36<br>2,567<br>(12,576)<br>5,050<br>(40,811)<br>132,088|Transfers<br>between<br>funds<br>£<br>(270,812)<br>25,000<br>(10,000)<br>(20,000)<br>(50,000)<br>-<br>10,000<br>323,000<br>(9,355)<br>(2,167)<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>4,261<br>-<br>-<br>-<br>-<br>-<br>(2,094)<br>2,167<br>-|At<br>31.3.24<br>£<br>960,174<br>300,000<br>30,000<br>15,000<br>-<br>10,000<br>15,000<br>638,000<br>169,463|
|---|---|---|---|---|
|||||2,137,637<br>17,015<br>23,595<br>1,935<br>300<br>830<br>214,439<br>5,205<br>26,312<br>59,496<br>-<br>20,011<br>132,992<br>36<br>17,893<br>18,054<br>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**<br>General fund<br>Critical Costs<br>Premises Maintenance Reserve<br>Computer & Telecommunications Reserve<br>Project & Resources Development<br>Organisation Development<br>Governance/Quality/Legal<br>Strategic Support<br>Designated Capital Assets<br>**Restricted funds**<br>CTM Health Board Local Mental Health<br>Suncredit Solar Grants<br>Youth Support Network<br>Youth Volunteering<br>BCBC ICF Community Navigators Funding<br>BCBC Transformation Funding<br>BCBC Transformation Funding Grants<br>Building Communities Trust Invest Local<br>Caerau Project<br>CTM Building Strong Bridges/HSCWB<br>BCBC Dementia Friendly Communities<br>Health Partnerhsip Activity<br>Befriending Project<br>BCBC Community Activities<br>Core COVID Support<br>POW Fundraising<br>BCBC Carers Respite Grants<br>WCVA Winter Pressures<br>BCBC Unsung Heroes<br>BCT ILC Driving Change<br>**TOTAL FUNDS**|At 1.4.22<br>£<br>895,322<br>275,000<br>40,000<br>35,000<br>50,000<br>10,000<br>5,000<br>315,000<br>187,874<br>1,813,196<br>10,241<br>46,118<br>1,935<br>2,050<br>993<br>193,449<br>15,963<br>9,878<br>3,746<br>21,204<br>59,496<br>48,515<br>23,454<br>132,992<br>145<br>2,040<br>2,091<br>4,513<br>16,799<br>595,622<br>2,408,818|Net<br>movement<br>in funds<br>£<br>165,345<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>(11,787)<br>153,558<br>2,849<br>(21,479)<br>-<br>(2,075)<br>(161)<br>-<br>27<br>-<br>1,281<br>1,106<br>-<br>(20,529)<br>12,557<br>-<br>(145)<br>13,286<br>(2,091)<br>(4,513)<br>4,129<br>(15,758)<br>137,800|Transfers<br>between<br>funds<br>£<br>(2,580)<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>2,731<br>151<br>-<br>(5,000)<br>-<br>25<br>-<br>20,990<br>(15,990)<br>(9,878)<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>9,702<br>(151)<br>-|At<br>31.3.23<br>£<br>1,058,087<br>275,000<br>40,000<br>35,000<br>50,000<br>10,000<br>5,000<br>315,000<br>178,818|
|---|---|---|---|---|
|||||1,966,905<br>13,090<br>19,639<br>1,935<br>-<br>832<br>214,439<br>-<br>-<br>5,027<br>22,310<br>59,496<br>27,986<br>36,011<br>132,992<br>-<br>15,326<br>-<br>-<br>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**<br>General fund<br>Critical Costs<br>Premises Maintenance Reserve<br>Computer & Telecommunications Reserve<br>Project & Resources Development<br>Organisation Development<br>Governance/Quality/Legal<br>Strategic Support<br>Designated Capital Assets<br>**Restricted funds**<br>CTM Health Board Local Mental Health<br>Suncredit Solar Grants<br>Youth Support Network<br>Youth Volunteering<br>BCBC ICF Community Navigators Funding<br>BCBC Transformation Funding<br>BCBC Transformation Funding Grants<br>Building Communities Trust Invest Local<br>Caerau Project<br>CTM Building Strong Bridges/HSCWB<br>BCBC Dementia Friendly Communities<br>Health Partnerhsip Activity<br>Befriending Project<br>BCBC Community Activities<br>Core COVID Support<br>BCBC Food Poverty Grants<br>POW Fundraising<br>BCBC Carers Respite Grants<br>WCVA Winter Pressures<br>BCBC Unsung Heroes<br>BCT ILC Driving Change<br>BCBC Warm Hubs Grant<br>**TOTAL FUNDS**|At 1.4.22<br>£<br>895,322<br>275,000<br>40,000<br>35,000<br>50,000<br>10,000<br>5,000<br>315,000<br>187,874<br>1,813,196<br>10,241<br>46,118<br>1,935<br>2,050<br>993<br>193,449<br>15,963<br>9,878<br>3,746<br>21,204<br>59,496<br>48,515<br>23,454<br>132,992<br>-<br>145<br>2,040<br>2,091<br>4,513<br>16,799<br>-<br>595,622<br>2,408,818|Net<br>movement<br>in funds<br>£<br>338,244<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>(11,787)<br>326,457<br>6,774<br>(17,523)<br>-<br>(1,775)<br>(163)<br>-<br>27<br>-<br>1,459<br>5,108<br>-<br>(52,776)<br>(3,443)<br>-<br>36<br>(145)<br>15,853<br>(2,091)<br>(4,513)<br>(8,447)<br>5,050<br>(56,569)<br>269,888|Transfers<br>between<br>funds<br>£<br>(273,392)<br>25,000<br>(10,000)<br>(20,000)<br>(50,000)<br>-<br>10,000<br>323,000<br>(6,624)<br>(2,016)<br>-<br>(5,000)<br>-<br>25<br>-<br>20,990<br>(15,990)<br>(9,878)<br>-<br>-<br>-<br>4,261<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>9,702<br>(2,094)<br>2,016<br>-|At<br>31.3.24<br>£<br>960,174<br>300,000<br>30,000<br>15,000<br>-<br>10,000<br>15,000<br>638,000<br>169,463|
|---|---|---|---|---|
|||||2,137,637<br>17,015<br>23,595<br>1,935<br>300<br>830<br>214,439<br>-<br>-<br>5,205<br>26,312<br>59,496<br>-<br>20,011<br>132,992<br>36<br>-<br>17,893<br>-<br>-<br>18,054<br>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**<br>General fund<br>Designated Capital Assets<br>**Restricted funds**<br>CTM Health Board Local Mental Health<br>Suncredit Solar Grants<br>Youth Volunteering<br>BCBC ICF Community Navigators Funding<br>BCBC Transformation Funding<br>BCBC Transformation Funding Grants<br>CTM Building Strong Bridges/HSCWB<br>BCBC Dementia Friendly Communities<br>Befriending Project<br>BCBC Community Activities<br>BCBC Food Poverty Grants<br>POW Fundraising<br>BCBC Carers Respite Grants<br>WCVA Winter Pressures<br>BCBC Unsung Heroes<br>BCT ILC Driving Change<br>BCBC Warm Hubs Grant<br>**TOTAL FUNDS**|Incoming<br>resources<br>£<br>742,988<br>-<br>742,988<br>188,477<br>-<br>13,300<br>349,147<br>165,249<br>171,606<br>82,699<br>22,250<br>54,854<br>59,735<br>114,660<br>-<br>50,000<br>-<br>-<br>40,321<br>51,913<br>1,364,211<br>2,107,199|Resources<br>expended<br>£<br>(404,744)<br>(11,787)<br>(416,531)<br>(181,703)<br>(17,523)<br>(15,075)<br>(349,310)<br>(165,249)<br>(171,579)<br>(81,240)<br>(17,142)<br>(107,630)<br>(63,178)<br>(114,624)<br>(145)<br>(34,147)<br>(2,091)<br>(4,513)<br>(48,768)<br>(46,863)<br>(1,420,780)<br>(1,837,311)|Movement<br>in funds<br>£<br>338,244<br>(11,787)<br>326,457<br>6,774<br>(17,523)<br>(1,775)<br>(163)<br>-<br>27<br>1,459<br>5,108<br>(52,776)<br>(3,443)<br>36<br>(145)<br>15,853<br>(2,091)<br>(4,513)<br>(8,447)<br>5,050<br>(56,569)<br>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: 

- Mid term Strategy Delivery  £638,000 : 

- General Critical costs (6 months critical costs) £300,000 

- Premises maintenance.  £30,000 

- IT upgrades £15,000 

- Org devel . £10,000 

- Gov/quality/legal contingency £15,000 

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

- Document created by Kayleigh Lang (kayleigh.lang@bevanbuckland.co.uk) 

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 

- Email viewed by m.griffiths261@btinternet.com 

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

- Signer m.griffiths261@btinternet.com entered name at signing as Marged Sian Griffiths 2024-12-18 - 7:06:57 PM GMT 

- Document e-signed by Marged Sian Griffiths (m.griffiths261@btinternet.com) Signature Date: 2024-12-18 - 7:06:59 PM GMT - Time Source: server 

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

- Email viewed by steve CURRY (stevejcurry@yahoo.co.uk) 2024-12-18 - 9:21:45 PM GMT 

- Document e-signed by steve CURRY (stevejcurry@yahoo.co.uk) Signature Date: 2024-12-18 - 9:24:02 PM GMT - Time Source: server 

- Agreement completed. 

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