REGISTERED COMPANY NUMBER: 07691764 (England and Wales) REGISTERED CHARITY NUMBER.. 1146543 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 FOR BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS IBAVO Bevan 8uckland LLP Chartered Accountants And Statutory Audilors Ground Floor Cardigan House Caslle Court Swansea Enterprise Park Swansea SA7 9LA
BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS IBAVO) CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Page Report ol the Trustees Report ol the Independent Auditors Statement of Flnanclal Acllvltles 10 Balance Sheet Ca8h Flow Stat•m•nt 12 Notes lo the Cash Flow Statement 13 Notès lo the Financial Stal8ments 14 to 27
BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS {BAVO) (REGISTERED NUMBER: 07691764) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 The Iruslees who are also directors of the charity for tho purposes of the Companies Act 2006, present their report with ihg financial statements of the charity for the year ended 31 March 2025. The Irustees have adopted the provisions of Accounting and Reportlng by Charilles.. Statemenl of Recommended Practice applicable to charitles preparlng their accounts in accordance wlth the Financial Reporting Stsndard applicable in Ihe UK and Republic of Ireland {FRS 1021 {effeclive 1 January 2019). OBJECTIVES AND ACTIVITIES Purpose, values and a¢tlvltles for publlc beneflt The Gonslitutional objectives of Ihe charity are lo proniole any Gharitable purpose for Ilie 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, nol-for-profits and social enterprises, to build the capacity of third sector organisations. to provide them with the necessary 8UPPOrt. 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 betw88n third sector. slalutory and other relevant bodies in the achievement of the above objectives. 8AVO's purpose is lo support, encourage and promote the development of a volunlory ond community Sector in Bridgend that is effective and efficient, infomied and influential and Ihal 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 sel of core prlnciples and values which help to detemiine prlorities and the overall style of working. BAVO recognises that Bridgend County is a diver88 Borough and that everyone can make a valid and valued contribution to their community and has a right to equality of opportunity. The principal airns of the charity, all considered for public b8nefit, ar8- to provide support. guidance. training and assistance for community and voluntary organisations within the borough. to help community and voluntary groups lo access funding in order to meet their organisalions 04'ectives, to facilitate the capacity building and expansion of the Third sector and lo assist in the training and development of volunteers. Page 1
BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS {BAVO) (REGISTERED NUMBER: 07691764) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 STRATEGIC REPORT A¢hlevements and performance The charily has achieved its main aims above in a variety of ways. with new projects also being delivered to progress activily in support of its misslon. The charity's partners, Welsh Government, Bridgend County Borough Council IBCBC) and CTMU Health Board continued to recognise th8 value of the work of BAVO and continued contribuling funding towards services and activities of the organisation and this enabled a level of stsbility in the planning and future development of other adivilies. The charity Gontinues to work as a key member of Third Sector Support Wales ITSSWI. a network of WCVA and County Voluntary Councils across Wales. Together we have worked to develop our core services to suppart hyper-local voluntary, cornmunily and not-for-profit groups and we are working to the TSSW business plan. as well as the BAVO service-focused strategy. 11 } Developrnenl and Sustainable Funding Support The development team provides Gomprehensive guidance and support lo communily-based voluntary groups and organisalions. responding lo both general and specialist enquiries. Information and advice were given to 362 organisations in Bridgend County on local and regional. andlor 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 alwayv signpost groups to the best oplions that meet their needs, but morl 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 fijnding 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 organisation8 SO that Ih8y ara better placed to roduce risk and meet demands. 8AVO also works with grant providers and funders lo support investment in the local third sector. Unfortunately, due lo the challenging financial climate, BAVO received reduced funding to distribute throughout the year. Nevertheless, £178,653 grant funding was slill provided lo local community and voluntary groups operating in Bridgend County, primarily to support prevention work. In addition, our team were in a posilion to support and strengthen member groups andlor their funding applications, some of whom went on lo achieve successful funding applications, leveraging a further £665,513 investment into community activity and facililies in the County Borough. 12) Training Programmes 8AVO has continued to deliver a wide range of services and support. The organisalion 8lso continued lo develop deliver open and tailored training for community and volunlary org8nisalions and not-for-profits. Wherever possible, BAVO maximised opportunities lor sector development through collaborative working with other providers. Additionally, our training work has helped groups lo access nèw sources ol income lo secure service delivery th81 not only serves communities bul supports the overall oulcomes of the Public Service Board's wellbeing goals and the corporate strategies of partner agencies within public seNices. We trained 377 people through digital and face-to-face s88sions in the y8ar 13) Volunteering Opportunities The volunteer centre continued lo promote and offer volunteering opportunities. The organisation uses 8 range of promotional materials and promotes ils aclivrties Ihrough social media, nèwsletters, and the Volunteering Wales website. which we support in terms of data input and management. The volunteer centre continued to work with other volunteer cenlres across Wales as well as with a range of other partners and dealt with more than 281 enquiries in the year. Outcomes included supporling people towards employment andlor tackling social isolation as well as supporting member organisations to have increased r8sources in d81ivering their work, The centre continues lo offer a brokgrage service rnatching potential volunt8ers with local groups and opportunili8s. 336 peoplè receiv6d help with volunleering, and 61 were placed into volunteering vacancies via BAVO. Every June, wo celebrate Volunteers, Weok and highlight the crucial rol8 volunteers play in fostering greater wellbeing and positiv8 outcomes for individuals and communities throughout Bridgend County. Page 2
BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS {BAVO) (REGISTERED NUMBER: 07691764) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 14} Influencing and Engagement BAVO is a member of the Public Service Board and Regional Pathership Board Structures and remains actively engaged in slrateglc processes wllhin Health and governmenl. BAVO facllltales represenlation andlor Ihlrd sector dlrect engagement at over 100 partnerships, joint planning andlor working groups. BAVO also supports several Third sector provider networks to co-produce approaches to meeting community needs and to providing a conduit for feeding voluntary and community voices into the strategic partnerships. 15) Providing practical services Accessible meeting and hybrid conference facilities are available to members and are used for recruitment, training, wnsultalions, and workshops. Ho14esking is also available for oiganisations to hSre at low cosl, and self-contained office and shop front spaces are available for longer-lerm rental at reasonable rates. 16} Additionol Projects Alongside our core provision, BAVO continued delivery of the 'Regional Integrated funded, programmes - 'Communily Navigators, and 'Resourceful, connected and coordinated communities., A whOlsYsteM approach to 5UPPOrt capacity building for voluntary and communily groups, which helps provide assurance and safety in connecting individuals to services and opportunities that meet their needs and interests. In addition to the KPIS outlined, our Community Navigator team {who work primarily with individuals aged over 50. people living with dementia, adults with learning disabilities and carers) received 604 new referrals from professionals and an additional 438 new clien15. Sorne people had several presenting issues that our team 5UPPOrted, and 1648 were assisted. In the year, including existing contacts, there were 9907 onward referrals and service signposting. We again exceeded the annual target, and 96 /• of 8ervicg users took up the support offered. Referrals received relevant support and wera signp081ed to appropriat8 assistance in a timely way, with 970/0 of assessments delivered within the target. The Navigators work with a range of partners who provide referrals to the tearn, and a range of community-based provision lo whom they sign-post individuals. Similar lo last year, 890/0 of referrals were signposted lo third sector, cummunily and voluntary sector support. 40/0 lo the private sector and 70/0 required statutory support. We also continued to deliver Community Companions, a befriending scheme that is crucial to enabling older people to feel sc¢ially connected and remain less isolated and more independent insofar a5 possible. 30 people were befriended through this programme, and 20 volunteers provided over 1200 hours of support. 17) Member Engagement Surveys, feedback loops, events, face-to-face supp)rt, and general member engagement mean we often gain insight that helps us to conlinuously improve. We review our delivery and service oflèr regularly and finalised our slralegy consullalion process with members and stakeholders during which lime we connecled through suNeys and focus groups lo dètermine what services were importanl lo relain, improve andlor grow, and where there may be gaps in Service. The Board agreed lo d&signat8 res8rves lo meet the ar8as for growlh Ih81 w8r8 reques18d by members, and started work on planning fulure servic8s for 25126 18) Demonstrating Impact BAVO is monitored in a rang8 of ways via varlous agencles and funders for both core and prolecl acllvSty. We provide quantilallve and qualitative monitoring returns in various formats such as outcome report cards, case studies, film, stats, and key performance indicalor {KPII data as prescribed by the funder. We also undertake annual reviews and audits wilh funders, and w8 hav8 been SUCC8ssful in achieving a rang8 of targ81s sel by thes8 bodi8S. Under the agreed Third Sector Support Wales core oulcomes framework, the KPIS were as below, the outputs were enhanced as addib'onal work delivered through Shar&d Prosperity Funding, 2025 362 336 £948,442 £138,948 377 1,504 2024 285 250 £665,513 £178,653 147 1,594 Organisations supported with direct advice Individuals supported with volunteering Funding applications supported Funding distributed Attendees al training and webinars Completed enquiries Page 3
BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS {BAVO) (REGISTERED NUMBER: 07691764) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 STRATEGIC REPORT Flnancial review Flnanclal posltlon Our work is made possible by a mixture of exlemal funding, for which we express our sincere Ihanks to our partners and funders. We also have a level ofself-generaled income as set out in the accounts. During the year, the charity's incoming resources were £1.140,321, of which £492,510 was for core and unrestricted activity and £647,811 was foi resliicled purpose5, includin9 granl distribution. At the end of the year, the charity's overall fi'nancial resour5 increased by £264.216. The Board has designated £1,133,905 to meet specific future needs in line with its newly commissioned strategic plan and objeclives, and aligned with its risk review. Del8ils of planned desi9naled funds over the next 5-year mid-term 8trale9y are Shown in the accounts, 83 8re the amounts of funding held as fixed assets. The general undesignaled lunds 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 sectcf funders.. Inv8stm•nt policy and objectivos The trustee5 reviewed their cash investments and considered the need for a balance b9tween liquidity and return on investment. and the most appropriate low-risk route to this end. As such, BAVO us88 a Spread of currant and short-lemi deposit account8 to ensure appropriate acces8 to funds. Approximately 500/0 of the unrestricted reserve 15 placed via the Flag51one investment plaffomi, into a spread of the highest possible interest rate providers available. BAVO has deposited funds into vaiious short 13 months) to medium 118 months) fixed.lerm and notice accounts, which are considered low risk and offer FSCS protection. Regard is given lo stability, and insofar as possible, the ethical status and social investment aims of the relevant body. Reserves policy Truslees have set out the charity's reserves policy, and this ensures organisation can meet ils legal obligations. The policy is an int8gral part ol Ihe charity's slralègic plan. 11 has be8n set lo allow the designated reserv8S to align with th8 m8dium-term strategy sel out by the Board. The policy also takes into account the budgeting and risk management process, and includes the following aspects.. Contingency planning - the ¢rilical costs Strategic priorities -medium term plan lo support the charily's delivery for member benefil Cash flow neéds where work is relrospeclively claimed A level of reserves lo m8el unexpected and uninsured costs Capital reserves for building and equipment needs Designated funds reprèseni planned spending whS¢h will be defrayed in the medium term. The remaining unrestricted reserves are consid8red lo be the true free reserves held by the charity. Th& Board will review Ihe res8rves policy annually taking into account the financial, slrstegic, environm8ntal, operalional and risk positions Taxallon 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 Chargeab16 Gains Act 1992 to th& axtenl that these are applied lo its charitable objects. Page 4
BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS {BAVO) (REGISTERED NUMBER: 07691764) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 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 look over the undertakings of a non-incorporated charity establlshed in 1998. The Irusleesldlrectors are elected al each AGM from nomlnallons recelved from member organisatlons andlor Board recommendations and serve for three years, after whith they may pul themselves forward for re-appointment. The Board must have al least 5 and a maximum of 9 members, with up to one third of them due for re-appointment in any year. The Board of Trustees meets al least quarterly. The Chief Execulive, appointed by the committee, oversees the day-to-day operations. Staff ieporl lo the Chief Execulive on Specific projects and services, adiniiiisliatioii, and finanTr. Further details are shown under adrninistrative information. There were new Trustees in the year, and all newly appointed trustees receive an induction. Training and detailed information on BAVO is provided through a series of meetings with the Chair, other Iruslees and the Chief Executive. The pay slrucknre of ernployees is set according to nationally negotiated NJC tables and Gommensurale with role and responsibility. Relat8d partios No trustee received remuneration or other benefit from their wotl< with the charity during the year. BAVO is a member of Third Sector Support Wales ITSSWI, comprising Wale5 Council for Voluntary Action IWCVAI and fellow county voluntary councils from across Wales. All transactions are at arm's length. Rlsk Management The Board regularly reviews the major strategic, financial and operational risks fac8d by the charity, and ha8 6Stabli8hed procedures to miligate those risks. Financial risks are being reduced by agreeing funding for both core function5 and specific projects for periods longer than hvelve months and by seeking lo build up free reserves as indicat&J above. Status The association is governed by its memorandum and articles of association, which establish 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 IEng18nd and Wales) Registered Charity number 1146543 Register•d office 112-113 Commercial Slreel Maesleg CF34 9DL Truslees Slephgn John Curry Marged Griffiths Mari Major Richard Young (resigned 11.6.241 Phil Fiander Phillip John Amanda Edwards Thomas Henry Beodle Rotired (appointed 7.2.251 Tania Eslelle Bending Chartered Accountant {appointed 7.2.251 Key management personnel Chief Executive Officer: Heidi Bennett Operations and Partnership Manager: Kay Harries Page 5
BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS {BAVO) (REGISTERED NUMBER: 07691764) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 REFERENCE AND ADMINISTRATIVE DETAILS Auditors Bevan Buckland LLP Chartered Accountants And Statutory Auditors Ground Floor Cardigan House Castle Court Swansea Enterprise Paik Swansea SA7 9LA Bankors Co-operative Bank, Delf House. Skelrnersdale WN8 6WT CAF Bank Ltd, 25 Kings Hill Avenue. Kings Hill. West Malling Kent. ME19 4TA STATEMENT OF TRUSTEES. RESPONSIBILITIES The Irustees Iwho are also the directors of Bridgend Association Of Voluntary Organisations IBAVOI for the purposes of company lawl are revponsible 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 fSnancial statements for each financial year. Under that law, the trustees hav8 elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the trustees must not approve the financial statements unles5 they are satisfied that Ihey 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 th8 income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees ar8 required to select suitable accounting policies and then apply them consi51ently,' observe the methods and principles in the Charities SORP., make judgements and eslimat8s that ar8 reasonable and prudent., state whether 8ppIic8ble accounting s18ndards have been followed, subject lo any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concern besis unless it is inappropriate lo presume that the charitable company will continue in business, The trustees ar& responsible for keeping prop8r accounting records which disclose with reasonable accuracy al any lime th8 financial posilion of the charitable company and to enable them lo ensure Ihal Ihe financial slalemenls comply with the Companies Acl 2006, They are also responsible for safeguarding the assels of the charitable company and hence for taking reasonable steps for the prevenllon and detection of fraud and other irregularitiès. In so far as the truslees are awar8: there is no relevant audit information of which the charitable company's auditors aro unaware., and the trustees have taken all steps Ihal they ought to have taken to make Ihemselves aware of any relevant audit information and to establish that Ihe audilors are aware of thal information. AUDITORS The auditors, Bgvan Buckland LLP, will be proposad for re-appointment at the forthcoming Annual General Me8ling Report of the Irusl8es, incorporaling a strategic report, approved by order of Ihe board of trustees, as the company directors, on 18 October 2025 and signed on the board's behalf by.. Marged Grifft"ths - Trustee Page 6
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF BRIDGEMD ASSOCIATION OF VOLUNTARY ORGANISATIONS IBAVOI Opinion WEI have audiled tha financial statements of Bridgend Association 01 Voluntary Organisations IBAVO) Ilha 'charitable company,) for tha year ended 31 March 2025 which comprisa the Slalem8nl of Financial Activitias, the Balance Shegl, tha Cash Flow Statement and notes to the financial statgments, 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 Accounling Practlcel. In our opinion the financial statements.. give a true and fair view of the state of the charitable company's affairs as al 31 March 2025 and of its incoming resources and application of resources, including its income and expendilure, for the year then ended: have been properly piepared in accordance wilh Uniled Kingdotn Geiierally AcpIed Accounling 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 {UKI) and applicable law. Our responsibilities under those standards are further described In the Auditors, responsibilities for the audit of the financial slalements section of our report. We are independent of the charitable company in acGordance with the ethical requirements that are relevant to our audit of the financial stalernents in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibililies in accordance with these requirements. We believe thal the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Conclusions r•lating to going concern In auditing the financial slatemenls, we have concluded that the tru5tees' use of the going concern basis of accounting irb th8 preparation of the financial slalements 15 appropriate. 8a8ed on tho work we have p8rformed, we have not identified any material uncertainties rolating lo av8nts or conditions that, individually or collectively. may cast significant doubt on the charitable company's abilily lo continue as a going concern for a period of at least twelve months from when the financial statements are aulhorised for issue. Our r8sponsibilitl8s and th8 re8wnsibilities of the trust88S Wlth resp8Ct to going concern are describ8d in the relevant sections of this report. Other information The trustees are responsible for the other information. The other information comprises the inlormation included in the Annual R8POrt, other than the financial slatemenl8 and our Report of th8 Ind8P8ndenl Auditors ther80n. Our opinion on the financial slalements does not cover Ihe olher information and, except to the 8xlent olhemis8 explicitly staled in our report, we do not express any form of assurance conclusion thereon. In connection with our audit ol the linancial statements, our responsibility is lo read the olher information and, in doing so, consider whelher th8 Other information is materially inconsistenl with Ihe financial statements or our knowledge obtained In lh8 audit or otherwise appears lo be materially misslaled. If we idenlify such material inconsistencies or apparenl matèrial misslatements, w8 are required to determine whether this gives rise to a material misstatement in the financial slalem8nts themselves. 11, based on the work we have performed, we conclude that there is a material misslatement of Ihis other Infomation, we are r8quired to report that facl. We have nothing to report in this regard. Oplnlons on other matlers prescrlbed by the Companles Act 2006 In our opinion, based on the work undertaken in tho course ol the audit: the information given in the Report of the Trustees for the financial year lor which the financial slalements are prepared is consistenl with the financial statemen15- and the Raport of the Trustees has baen preparad in accordanc8 with applicable legal requirements. Matters on whlch we are requlred to report by exceptlon In tho light of Ihe knowlgdgo and undorstanding of the charitablo company and its environment oblained in the course of the audit, we have not identified material misslalements in the Report of Ihe Trustees. We have nothing lo 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 frorn branches not visited by us; or the financial statements are not in agreement with the accounting records and returns,. or certain disclosure5 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 BRIDGEMD ASSOCIATION OF VOLUNTARY ORGANISATIONS IBAVOI Responslbllitles of trustees As eKplained more fully in tha Statoment of Trustees, Rasponsibilities, Ihe truslaes (who are also the direclors of tho charitable company for the purposes of company lawl are responsible for the preparation of the financial slatemenls and for being satisfied that Ihey give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial ststements thal are free from materlal mlsststement, whether due lo 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 lo do so. Our responsibilities for the audit of the financial statemgnts Our objectives are to obtain reasonable assurance about whether Ihe fSnanclal statements as a whole are free from material misslalement, 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 alway8 detect a material misst8temenl when il exists. Misslatement$ can arise from fraud or error and are considered material if, individually or in the aggregate. they could reasonably be expected lo 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.. Extont to which the audit was consid8r•d capabl8 of dalecting irregularitias. including fraud We identify and assess the risks of material misstatement of the Financial Statements. whether due lo fraud or error, and then. design and perform audit procedures responsive lo those risks, including obtaining audit evidence that is sufficient and appropriat8 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 polential risks related to irregularities. In identifying and assessing risks of material misstalemenl 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 documentalion, concerning the Charity's policies and procedures re181ing to-. identifying, evaluating and complying wilfv laws and regulations and whether th8y wér8 awar8 of any instances of non-compliance., delecling and responding to th8 risks of fraud and whether they hav@ knowledge of any actual. suspected or alleg8d fraud, thè intèrnal controls established lo mitigale risks relaled to fraud or non-compliance with laws and regulations., discussing among the engagement team how and where fraud mighl occur in the financial slalemenls and any polenlial indicalors of fraud. obtaining an understanding of the legal and regulatory frameworks that the Charity operates in, focusing on those laws and regulalions that had a direcl effect on the financial stalemenls or that had a fundamental effect on the operations of the Charity, The key laws and regulations we Considered in this conlext in¢luded the UK Companies Act and relevant tax legislation. Page 8
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF BRIDGEMD ASSOCIATION OF VOLUNTARY ORGANISATIONS IBAVOI Audlt response to rlsks Idèntlfled In addilion to the above, our procedures to respond to risks identified included the following.. reviewing the financial statement disclosures and testing to supporting documenlation to assess Complian with relevant laws and regulations., enquiring of management Gonceming actual and potential litigation and Glaims- perfomiing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misslatement due to fraud., reading minutes of meetings ofthose charged with 9overnance; in addressing the risk of fraud through management override of controls. testing the appropriateness of journal entries and olher adju5ttneiits', assessing whether the judgements made in making accounting eslimales are indicative of a potential bias., and evaluating the operatlonal rallonale of any slgnificant transactions that are unusual or outside the normal course of operations. We also communicated relevant identified laws 8nd regul8lion8 and potential fraud risks to all en9a9ement team member8 and remained alert to any indications of fraud or non-compliance with laws and regulations throughout1he audit. A further description of our responsibilities for the audit of the financial stalemenls is located on the Financial Reporting Council's website al www.frc.org.uklaudilorsresponsibilities. This description forms part of our Report of the Independent Auditors. Usa of our roport This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Parl 16 of the Companies Act 2006. Our audit work has been undertaken so that we might State to the charitable cornpany'5 members thos8 matters we are required to stale to them in an auditors, report and for no other purpose. To the fullest extent permilled by law, we do not accept or assum8 responsibility to anyone other than th@ charitable company and the charitable company's members a8 body, for our audit work, for this report. or for the opinions we have formed. Michael Jones (Senior Statutory Audilorl for and on behalf of 8evan Buckland LLP Chartered Account8nts And Stalulory Auditors Ground Floor Cardig8n House Castle Court Swansea Enterprise Park Swansea SA7 9LA 29 October 2025 Page 9
BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS IBAVO) STATEMENT OF FINANCIAL ACTIVITIES {INCORPQRATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025 2025 Total funds 2024 Total funds Unrestricted funds Restricted funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 597 597 952 Charitable activitie5 Charitsble aclivilies 393.576 647,811 1,041,387 969,414 Other trading aclivilies Investment income Total 17,125 17.125 21,316 492,510 647,811 1,140,321 1,030,852 EXPENDITURE ON Charltable actlvltles Charitable a¢tivltles 250.061 876,105 898,764 NET INCOME Transfers between funds Net movement in funds 242,449 10 242,439 21,767 10 21,777 284,216 132,088 18 264,216 132,088 RECONCILIATION OF FUNDS Tolal lunds brought forward 2.137,637 541,069 2,678,706 2,546,618 TOTAL FUNDS CARRIED FORWARD 2,380 076 2,942,922 2 678 706 The notes form part of these financial statements Page10
BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS {BAVO) (REGISTERED NUMBER: 07691764) BALANCE SHEET 31 MARCH 2025 2025 Total funds 2024 Total funds Unrestricted funds Restricted funds Notes FIXED ASSETS Tangible assets 14 155.903 155.903 169,463 CURRENT ASSETS Deblors Investments Cash al bank and in hand 15 16 147,976 925,759 1 188.951 2,262,888 147.976 925.759 1,751,797 2,825,532 127,682 596,726 1822 387 2,546,795 562,846 562,846 CREDITORS Amounts falling due within one year 17 {38,513} {38.513) 137,5521 NET CURRENT ASSETS 2 224 173 562,846 2 787 019 2 509 243 TOTAL ASSETS LESS CURRENT LIABILITIES 2,380,076 5C2,846 2,942,922 2.678,706 NET ASSETS FUNDS Unrestricted funds ResliiGled funds TOTAL FUNDS 2 380 076 562 846 2 942 922 2 678 706 18 2,380,076 562,846 2 942 922 2,137,637 541,069 2 678 706 The financial stslements wer8 approved by th8 Board of Trust888 and authorised for issu8 on 18 October 2025 and w8re signed on Ils behalf by.. M8rged Griffiths - Trustee Mari Major . Trustee The notes form part of these financial statements Page11
BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS IBAVO) CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Cash flows from operatlng ac¢lvltles Cash generated from operations Net cash provided by/(used in) operating activities 177 231 177 231 19,0601 19,0601 Cash f lows from Invèstlng aellvltles Purchase of 18nglble fixed assets Investment in Current Asset Investments Interest received Net cash used in Investing activities {4,0361 {596.7261 39.170 561,5921 (329,033) 247 821) Change In cash and cash equlvalenls In the reporting period Cash and cash equivalents at the beglnnlng of the reportlng perlod Cash and cash equivalents at the end of the reportlng perlod {70,590) {580,6521 1,822,387 2.403.039 1,751.797 1.822,387 The notes form part of these financial statements Page12
BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS IBAVO) NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2025 2024 Net Income for the reportlng perlod las per the Statement ot Flnan¢lal Activities Adjustmgnts for: Depreciation charges Interest received InLiedse in debtors Increaselldecreasel in creditors Net cash provlded byl{used In} operatlons 264,216 132.088 13.580 (81.2121 (20.2941 961 177231 13.390 139,1701 151,2131 74,1551 19.0601 ANALYSIS OF CHANGES IN NET FUNDS At 1.4,24 Cash flow At 31.3.25 Net cash Cash at bank and in hand 1 822 387 1,822,387 70 590) 70,5901 1,751,797 1 751 797 Llquld resources Deposits included in cash Current asset investments 596 726 596,728 2419113 329 033 329.D33 258 443 925 759 925 759 2 677 556 Total The notes form part of these financial statements Page13
BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS IBAVO) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 STATUTORY INFORMATION Bridgend Association Of Voluntary Organisations is a charitable company, limited by guarantee. registered in England and Wales. The charilWs registered number and registered office address can be found on Ihe Reference and Adminlstralive Details page. The presentation currency of the financial ststements is the Pound Sterling {£1. ACCOUNTING POLICIE8 Basis of preparing the linancial statements The financial statements of Ihe charitable company, which is a public benefit entity under FRS 102, have been prepared in aocordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Sialement of Recommended Practice applicable to charitie8 preparing their accounts in accordance with the Financial Reportin9 Standard appliG8ble in the UK and Republic of Ireland IFRS 1021 {effeGlive 1 January 20191,. Financial Reporting Standard 102 'The Financial Reporting Standard applicable in Ihe 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 Ihe accounts, the trustee5 have a reasonable expectotion thot the charity hos adequate resources to continue in operational existence for the foreseeable future. The INstees 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 uncortainty The charity makes estimales and assumptions concerning the future. The resulling accounting estimates will by definition, seldom equal the related actual results. The estimates and assumptions that h8ve 8 significant risk of causing material adjustment to th8 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 Ihe assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary lo reflect current estimate, based on technological advancement, future Inveslmenls, economic utilisation and th8 physical condition of the assets. Impairment of debtors The charity makes estimates of the recoverable value of debtors. Vvhen assessing Ihe impairment of debtors, management consider faclors including Ihe current credil raling of the debtor, the ageing prolile ol deblors and historic experience, Income All income is recognised in the Stalemenl of Financial Activities once the charity has entitlement to the funds, any perf0mlan condilions allached to the ilemlsl of incorne have been met, il is probable that the income will be received and the amount can be measured reliably. Incomg from government and other grants, whelher 'capital' grants or 'revenue' grants, is recognised when the charity has entitlement lo th8 funds, any performance conditions attached lo the granls hav8 been met, it is probabl8 that th8 income will bo roceived and tho amounl can bo measured reliably and is not deferred. Interest on funds hold on deposit is includod 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 ha5 been placed on the support given to the charity by way ol volunleer assistance Room hir& income is included in the pariod in which tha rental takes place. Expendlture Liabililics are recognised as expenditure a5 soon as there is a legal or constructive obligalion committing the charity lo that expenditure, il 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 Ihal aggregate all cost related lo the category. Where costs cannot be directly atlribuled to particular headings they have been allocated lo activities on a basis consistent with the use of resour$. Page 14 conlinued..-
BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS IBAVO) NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES- contlnued Expenditure Resources expended are allocated to a speGific activity & fund where the cost relates diredly lo Ihat aGtivity & fund. Support costs are those costs incurred directly in support of expenditure on the objecls of the charity, and include Ihe costs of moniloring performance of ongoing activities. CDsts directly attributsble lo the objects of the charity are shown as expenditure or) operational pi09rammes, advice & information in the noles lo Ihe 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 condition3 which have not been met at the year end date are noted as a commitment but not accrued a8 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 provi6ion8 Creditors and provisions are recognised where the company has a present obligation {leg?l and constructivel resulting from 8 past event that will prob8bly result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or eslimaled reliably, Cr8dilors and provisions arè nomally r8cognised al their settlem8nl amount aft8r allowing for any trade discounts due. Tangible fixed assets Depreciation is provided al the following annual rates in order lo write off each asset over ils estimated useful life. Freehold property Fixtures and fittings Computer equipment 20A on cost 200/0 on cosl and 100/0 on cost 33010 on Cost Taxation The charity 18 8x8mpl from corporation lax on ils charitab18 activities. Fund accounting Unrestricted funds can be use¢J in accordance with the charitable objectives at the discretion of the trustees. Designated funds are unrestricted funds of the charity, which the Irusl88s have decided al their discretion to set aside to use for a specific purpose. Restricted funds can only be used for particular restricted purwses within the objects of lh8 charity. Restrictions arise when specified by the donor or when funds are raised for particular restricled purposes. Golng concern At the time of approving the financial slalemenls, tho trustees havo a reasonable expectation that the charity has adequate resources to continue in operational existence for the forcseeable future. Thus the truslees continue to adopt the going concern basis of acwunling in preparing the financial stalemenls. Hlre purchase and leaslng commltments Rentals paid under operating leases are charged to the statement of financial activities on a slraight-line basis over the period of the lease Page 15 conlinued..-
BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS IBAVO) NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES- contlnued Penslon Costs and other post-retlrement beneflts Shorl-lemi employee beneflts that are expected to be settled wholly before twelve monlhs after the end of the annual reporting period in which the ernployees render the related service.. lal wages. salaries and social security conlribulions., Ibl lime in lieu owed to the employee. Conlribulions are made by the Gharity to a group personal peiision sthetne which is independently administeied, on the basis of a contribution by the charity of 8 % of gross pay. Ernployees may also choose to contribute an additional amount from their gross pay. The amounts chargeable lo expenditure represenl 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. FinanGi)I Instrum•nt¥ The company has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther 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 inctrument, Financial assets and liabilities are offset, with the net amount5 presented in the financial statements, when there 15 a legally enforceable right to Sel off the recognised amount5 and there is an intention lo settle on a nel basis or to realise the a5S81 and settle the liability simultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, sre initially measured at transgction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless th8 arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rale of interest. Financial assets classified as receivable within one year are not amortised. Current Asset Investments Investment policy - when available, surplus cash is invested in a high interest saving pl8lform, in order to maximise ineome but r8lain acc8ssibilily. This heading includes cash on d8POSIt and cash equivalents which generally has a maturity ol less than 18 months. Classificalion of financial liabilities Financial liabililies and equily inslruments are Classified according ID the substance of the contractual arrangemènts entered into. An equily instrument is any contract Ihal evidences a residual inlerèsl in Ihe assets of Ihe company after deducting all of ils liabilitl8S. Baslc financlal Ilabililies Basic linancial liabilities, including creditors are initially recognised al transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of tha fulure payrnenls discounted al a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Trade creditors are obligations lo pay for goods or sorvicos that have been acquirod in the ordinary course of business from suppliers. Amounts payable ar8 classified as current liabilities if payment is due within one year or less. If not, they are pres8nted as non-currenl liabilities. Trade creditors are recognised initially al transaclion price and subsequently measured al amortis8d cost using ihe effectiva interest method. Page 16 conlinued..-
BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS IBAVO) NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 DONATIONS AND LEGACIES 2025 2024 Donations 597 952 OTHER TRADING ACTIVITIES 2025 2024 Hlr2 of rooms and equlpment Letting of office units Training and consultancy 5,129 8,811 4,934 12.662 3.720 INVESTMENT INCOME 2025 2024 Oeposit account interest 39.170 INCOME FROM CHARITA8LE ACTIVITIES 2025 2024 Activity Charilable 8Ctivitie8 Grants 1041387 969 414 Grants rac8lved, Included In Ihe above, aro as follows.. 2025 2024 Core- Wales Councll of Voluntary Action {WCVAI Core- Bridgend Couniy Borough Council IBCBCI Core - Cwm Tal Morgaiinwg Uiiiversity Healili Board ICTM) CTM Mental Health Development CTM Building Strong Bridges Project BCBC Transformation Resilient Communities BCBC RIF Communlty Navlgalors BCBC Food Poverty Grants BCBC Focus Forward Funding 8CBC Dementia Friendly Cornmunities Project BCBC Sundry Project Funding WCVA - Gwirvol Grants BCBC Social Isolation BCT ILC Driving Change BCBC Wami Hubs Granl CTM PSB Core- Development BCBC Bafriending 230.333 55,230 16.924 88,713 42,949 141,D16 199.000 32.D44 20.000 10,000 76,929 11.650 213,195 61,230 16,416 94.940 41.657 165.249 170,784 114,660 20,000 12.000 13.256 6.650 31.377 21,000 67,047 8,000 552 28.DOO 1041,387 969,414 Page 17 conlinued..-
BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS IBAVO) NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 CHARITABLE ACTIVITIES COSTS Grant funding of actlvltles {see note 81 Support osts Isee note 91 Direct Costs Totals Charitable activities 147955 153116 876 105 GRANTS PAYABLE 2025 2024 Charitable adivilies 147 955 153594 The total grants paid to individuals during the year was as follows: 2025 2024 Oementia Freindly GwirVol- Youth Led Grants SolarPanel Food Poverty Carers Respite Loneliness and Social Isolation Fund ILC Driving Change Wami Hubs Grant 799 4.977 {3.9561 114.624 (2,5671 33,471 11,296 5.0501 153,594 20,S43 31.242 18,507 67,268 147,955 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. SUPPORT COSTS Support costs Finance Totals Charitable activi1188 491 152 625 153116 10. NET INCOMEIIEXPENDITURE) Net incomellexpendlturel Is stated after charglngl(credltlngl'. 2025 2024 Depreciation - owned assets Auditors Remuneration 13.560 13.391 Page 18 conlinued..-
BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS IBAVO) NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 11. TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benef1ts for the year ended 31 March 2025 nor for the year ended 31 March 2024. Trust•es' oxpenses Theie were no trustees, expenses paid foi tlie year elided 31 Maicli 2025 iior for the year ended 31 MarGh 2024. 12. STAFF COSTS 2025 2024 Wages and salaries 594197 594197 611.467 611467 The average monthly number of employees dunng the year was as follows.. 2025 2024 Senior management Operational and office stsff 18 20 20 22 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 £99,06912024'. £105,159). 13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds ReBtrict8d funds Total funds INCOME AND ENDOWMENT8 FROM Donations and legacies 452 500 952 Charitable activities Charitable activities 332,097 637,317 969,414 Other trading activities Investment income Tolal 21,316 39,170 393,035 21,316 39,170 1,030,852 637,817 EXPENDITURE ON Charltsble actlvllles Charitable activities 220 136 678 828 898 764 NET INCOMEI(EXPENDITURE) 172,899 2,167 170,732 140,8111 2,167 138,6441 132,088 Tran$fgr$ botwgen funds Net mvement in funds 132,088 RECONCILIATION OF FUNDS Total funds brought forward 1,966,905 579,713 2,546,618 Page 19 conlinued..-
BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS IBAVO) NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- contlnued Unrestricted funds Restricted funds Total funds TOTAL FUNDS CARRIED FORWARD 2,137,637 541,069 2 678,706 14. TANGIBLE FIXED ASSETS Fixtures and fittings Fre8hold property Computer equipment Totals COST Al 14)ril 2024 and 31 March 2025 DEPRECIATION At 1 )ri1 2024 Charge for year At 31 March 2025 NET BOOK VALUE At 31 March 2025 At 31 March 2024 605,190 37.954 52,194 695,338 440,412 11,304 451,716 37.915 47,548 2,256 49,804 525,875 13,560 539,435 37915 153,474 164778 39 39 155,903 169,463 15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Grant debtors Prepayments and accrued income 128,036 19,940 147 976 125,991 1,691 127 682 16. CURRENT ASSET INVESTMENTS 2025 2024 Other 925 759 596 726 Investments in Flagstone saving platform w8r8 inv8sled betW8en a 3-24 month maturity at varying inler8sI ral8S. Page 20 conlinued..-
BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS IBAVO) NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Trade credltors Social security and other taxes Other creditors Accruals and deferred income 4,157 10,553 4.685 19,118 6,402 10.786 5.274 15.090 18. MOVEMENT IN FUNDS Nel movement in funds Transfers between funds At 31.3.25 At 1.4.24 Unrestrl¢led funds General fund Critical Costs Premises Mainlenance Reserve Computer & Telecommunications Reserve Organisation Development GovernancelQualitylLegal Strategic Support Designated Capital Assets 960,174 300.000 30.000 15.000 10.000 15,000 638,000 169,463 2.137.637 242 449 13,548 1,216,171 300,000 30,000 15,000 10,000 15,000 838,000 155,905 2,380,076 13,558 110) 242,449 Rostricted funds CTM Health Board Local Mental Health Suncredit Solar Grants Youth Support Network Youth Volunteering BCBC ICF Community Navigators Fundlng BCBC Transformation Funding CTM Building Strong BridgeslHSCWB BCBC Dementia Friendly Communities Health Partnerhsip Activity BCBC Community Activilies Core COVID Support BCBC Food Poverty Grants BCBC Carers Respite Grants BCT ILC Driving Changè BCBC Warm Hubs Grant WCVA Safeguarding 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 30 573 (20 6431 47,588 2,952 1,935 306 830 214,439 6,144 36,312 54,865 20,011 132,992 838 17,893 18,831 2,735 4,175 562,846 2 942 922 1191 939 10000 14.6221 19 (91 802 777 12211 4175 21.767 264216 541,069 2 678 706 10 TOTAL FUNDS Page 21 conlinued..-
BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS IBAVO) NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 18. MOVEMENT IN FUNDS- contlnued Net movement in fvnds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestrlcled funds General fund 492.510 (250,061) 242,449 Restricted funds CTM Health Board Local Mental Health Suncredit Solar Grants Youth Volunteerin9 BCBC ICF Community Navigators Funding BCBC Transformation Funding CTM Building Strong BridgeslHSCWB BCBC Dementia Friendly Communities Health Partnerhcvip Activity BCBC Food Poverty Grants BCT ILC Driving Change BCBC Warm Hubs Grant WCVA Safeguarding CTM Social Pre8cribing KITT Project 88.713 158,140) 120,643) 111,644) (199.000) (141.035) (42,010) 30,573 120,643) 11.650 199.000 141.016 42.949 10.000 28.000 32.044 21.000 67.047 5.917 475 647,811 119) 939 10,000 14,6221 802 777 12211 4,175 132,622) 131,242) 120,223) 167,268) 11,742) 475) 626.0441 21.767 TOTAL FUNDS Page 22 conlinued..-
BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS IBAVO) NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 18. MOVEMENT IN FUNDS- contlnued Comparatlves for movement In lunds Nel movement in funds Transfers between funds At 31.3.24 Al 1.4.23 Unro5trirlod funds General fund Critical Costs Premises Maintenance Reserve Computer & Teleoommunicalions Reserve Project & Resou8 Development Organisation Development GovernancelQualitylLegal Strategic Support Designated Gapilal Assets 1.058.087 275,000 40.QOQ 35,000 so,000 10,000 5.000 315,000 178.818 1,966.905 172.899 (270,8121 25,000 110.0001 120,0001 150,0001 960,174 300,000 30,000 15,000 10,000 15,000 638,000 169,463 2,137,637 10,000 323,000 9,355 12.167) 172.899 Restricted funds CTM Health Board Local Mental Health Suncredit Solar Grants Youth Support Network Youth Volunlgering BCBC ICF Cornmunity Navigators Funding BCBC Transformation Funding CTM Building Strong Bridge51HSCWB BCBC Dementia Friendly Communities Health Partnerhsip Activity Befriending Project BCBC Community Activities Core COVID Support BCBC Food Poverty Grants BCBC Carers Respilp Giants BCT ILC Driving Change BCBC Warm Hubs Grant 13,090 19,639 1.935 3925 3.956 17,015 23,595 1,935 300 830 214,439 5,205 26,312 59,496 300 121 832 214.439 5,027 22,310 59,496 27,986 36,011 132,992 178 4.002 132.2471 (16.0001 4,261 20,011 132,992 36 17,893 18,054 2,956 541,069 2 678 706 36 2567 (12.5761 5.050 40,811) 132088 15,326 30,630 2,094 2,167 579,713 2 546 618 TOTAL FUNDS Page 23 conlinued..-
BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS IBAVO) NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 18. MOVEMENT IN FUNDS- contlnued Comparative net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestrlcled funds General fund 393.035 (220,136) 172,899 Restricted funds CTM Health Board Local Mental Health Suncredit Solar Grants Youth Volunteerin9 BCBC ICF Community Navigators Funding BCBC Transformation Funding CTM Building Strong BridgeslHSCWB BCBC Dementia Friendly Communities Befriending Project BCBC Community Activilies BCBC Food Poverty Grants BCBC Carers Respite Grants BCT ILC Driving Change BCBC Warm Hub8 Grant 94.940 {91,015) 3.956 16,350) (170.786) (165.249) 141,479) 18.248) 163,874) 116,000) 1114,624) 2,567 112,576) 5,050 678,6281 3.925 3,956 300 12) 6.650 170.784 165.249 41.657 12.250 31.627 178 4,002 132,2471 116,0001 36 2,567 112,5761 5,050 40.8111 132088 114.660 637,817 TOTAL FUNDS Page 24 conlinued..-
BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS IBAVO) NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 18. MOVEMENT IN FUNDS- contlnued A current year 12 monlhs and prior year 12 months combined position is as follows: Nel movement in funds Transfers between funds At 31.3.25 Al 1.4.23 Unro5trirlod funds General fund Critical Costs Premises Maintenance Reserve Computer & Teleoommunicalions Reserve Project & Resou8 Development Organisation Development GovernancelQualitylLegal Strategic Support Designated Gapilal Assets 1.058.087 275,000 40.QOQ 35,000 so,000 10,000 5.000 315,000 178.818 1,966.905 415.348 (257,2641 25,000 110.0001 120,0001 150,0001 1,216,171 300,000 30,000 15,000 10,000 15,000 638,000 155,905 2,380,076 10,000 323,000 22,913 12.177) 415.348 Restricted funds CTM Health Board Local Mental Health Suncredit Solar Grants Youth Support Network Youth Volunlgering BCBC ICF Cornmunity Navigators Funding BCBC Transformation Funding CTM Building Strong Bridge51HSCWB BCBC Dementia Friendly Communities Health Partnerhsip Activity Befriending Project BCBC Community Activities Core COVID Support BCBC Food Poverty Grants BCBC Carers Respilp Giants BCT ILC Driving Change BCBC Warm Hubs Grant WCVA Safeguarding 13,090 19,639 1.935 34 498 {16.6871 47,588 2,952 1,935 306 830 214,439 6,144 36,312 54,865 306 121 1191 1 117 14 002 14 6221 132.2471 (16.0001 832 214.439 5,027 22,310 59,496 27,986 36,011 132,992 19 (91 4,261 20,011 132,992 838 17,893 18,831 2,735 4,175 562,846 2 942 922 838 2567 (11.7991 4.829 4175 19,0441 396 304 15,326 30,630 (2,0941 579,713 2 546 618 2,177 TOTAL FUNDS Page 25 conlinued..-
BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS IBAVO) NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 18. MOVEMENT IN FUNDS- contlnued A current year 12 monlhs and prior year 12 months combined rbet movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestrlcled funds General fund 885.545 (470,197) 415,348 Restricted funds CTM Health Board Local Mental Health Suncredit Solar Grants Youth Volunteerin9 BCBC ICF Community Navigators Funding BCBC Transformation Funding CTM Building Strong BridgeslHSCWB BCBC Dementia Friendly Communities Health Partnerhcvip Activity Befriending Project BCBC Community Activilie5 BCBC Food Poverty Grants BCBC Carers Respite Grants BCT ILC Driving Change BCBC Warm Hubs Grant WCVA Safeguarding CTM Social Prescribing KI Project 183.653 (149.155) 116,687) 117,994) (369.786) (306.284) 183,489) 18.248) 132,622) 163,874) 116,000) 1145,866) 2,567 132,799) 162,218) 11,742) 34,498 116,687) 306 12) 119) 1.117 14,002 14,6221 132,2471 116,0001 838 2,567 111,7991 4,829 4,175 18.300 369.784 306.265 84.606 22.250 28.000 31.627 146,704 21,000 67.047 5,917 475 1,285,628 1,304,672) 19.0441 396 304 TOTAL FUNDS Transfers between funds During the year the charity held a number of discussions wilh funders in order to Use some historic reslricled funds and il was a9rood Ihoso could be repurposod for now restriclod Iniliatives. Whoro tho original fvnder no longer exis18 the funds have bccn transferred to similar rostrictcd aclivilies. 19. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2025. 20. RESTRICTED FUNDS There are 15 restricted fund with balances al the year end, and 16 restricted funds being ulilised during the year, they rp.IAlp. lo grants he.ing rp.rTr.ived in this ypar nr the prpviniJ8 yp.ar lo f(Jnd spp.rifir, AclivitlPS And pxppndiliirp. The restricted funds are.. CTMLMHG.. Mental health dgvelopment sarvica support Suncredlt: Community grants for the areas of Laleslon, Penyfai and Wildmill Youth Support Network: For vcluntary youlh services support Youth Voluntserlng: Projed grant for youth led projerts Page 26 conlinued..-
BRIDGEND ASSOCIATION OF VOLUNTARY ORGANISATIONS IBAVO) NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 20. RESTRICTED FUNDS- contlnued ICF Navlgators.. For c(ynrnunily navigation project revenue and resources Transformallon: For Common access point, neljvork and developfflenl activity CTM Building Strong Bridges.. Health and social care development servlce BCBC D8monlia FC.. Projed for improving awareness, skill3 and developing DFC Health Partnership Activity: To support community wellbeSng development and activity Befriending.. To deliver a community companion8 befriending project BCBC Communily Actiyilies: To develop community piojects and opportunities to reduce Ssolatlon and improve social mobility Core Covid Support.. To support core service and facilitate community resourcefulness and covidlcost of living recovery BCBC Food Pov8rty Grants: Grant lundholder.. to support the work of the community food partnership through distribution of grants to the sector BCBC Carers Respite Grants: Grant lundholder.. to support the work of the carers partnership through distribution of gr8nls to the sector BCT ILC Drlvlng Change: Grant lundholder for the Invest Local Caerau parlnership which distributes grants for community activity in Caerau. BCBC Wamb Hubs grants, Grant lundholder.. 5UPPOrt warm hublsocial isolation projects through distribution of grants 21. DESIGNATED FUNDS There are 7 designated funds with balances at the year end.. Mid temi Strategy Delivery £638,000 General Critical costs16 months critical costs) £300,000 Premises maintenance. £30,000 IT upgrade5 £15,000 Org devel £10,000 Govlqualityllegal contingency £15.000 The above designated funds are set to align with the ambitions detailed in thg renewed mid term strategic plan which includes investment in digital and IT, incieasing staff capacity, R & E, Sector Leadership support. developing local fundraising, netNorks and workforce development. -Fixed assets,this represent5 the NBV of the fixed assets at the year end £155,903 Page 2T
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