Elusennau lechyd
HYWEL DDA
Health Charities
#MakingaDifference
in 2024-25
•¥$
11 #
Annual report and accounts
Registered Charity Number: 1147863

Thankyou
l arn delighted to present our Annual Report for 2024-25. This past year ha5 once
again highlighted the incredible generosity and cornmitment of our local
comrnunities, whose support continues to make a ffleaningfuL difference to the
lives of patients. their families, and NHS staff across Carmarthenshire, Ceredigion,
Pembrokeshire, and beyond.
It was wonderful to see the new Leri cancer unit at Bronglais Hospltsi take shape In 2024-25,
and to See the unit officially opened in May 2025. The unit was made possible thanks to the
extraordinary support of locaL communitie&
Throughout the year, we've seen inspiring examples of fundraislngand cofflmunlty sptrft. One of
the stsndout moments was the exhllaratlng Zlp Line Challenge whlch brought together brave
supporters from across the reglon to ralse funds In a truly unforgettable way. We also continued
our valued partnership wlth Long Course Weekend Wales. the biggest multisport festival In
Europe. and with Scarlets Rugby. whose support for the Wlsh Fund ¢ampalgn has helped us
create lastlng memorfes foryoung patlents and thelr loved one&
These events. aLong with countless other arts of kindness and generoslty, have enabled usto
fund enhancements to NHS servlces that go above and beyond whatthe NHS can provlde. From
Improvlng patlent envlronments to supporting staff wellbelng and fundlng Innovative
technoLogy, every donatlon has helped us deilver real lrnpact across our health board.
To allour supporters- Indlvlduals, groups. and organlsations aUke- thankyou for maklnga
dlfference!
Chair
Charitable Funds Committee
Hywel Dda University
Health Board

Contents
1. Our purpose. achievements and plans
Our purpose
Howwe help
Who we support
Ouryear in numbers
The difference you made
Your fantastic fundraising
Incomeata glance
Expenditure at a glance
Our plans for2024-25
How to support us
13
15
16
17
18
2. Our finances and governance
Financial review
Structure, governance. and management
Rlsk Management
Appendix A: Annualaccounts 2024-2025

1. Our purpose,
achievements and plans
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Elusennau lechyd
HYWEL DDA
Health Charities
Our purpose
Hywel Dda Health Charities is the official charity of Hywel Dda Universty Local Health
Board. reglstered charity number 1147863. We exist to make a posltive difference to the
health, wellbelng and experience of NHS patients, servke users and stsff across
Carmarthenshire. Ceredigion and Pembrokeshire.
Our aim is to raise and distribute funds to enhance local NHS services. The donations we
receive from patients, their families and our Local communities are spent on enhancing NHS
services, above and beyond what NHS funding alLows.
Our charity raises and distributes funds to enhance our local NHS services through:
Providing the most up-to-date medicaL equipment for diagnosis and treatment
Creating more welcoming surroundings for patients, their famiLie5 and staff
Offering additional patient comforts to make tirne spent in hospital more comfortable
Supporting staff Learning and development and wellbeing initiatives
Enhancing care in our locaL communities
Oelivering heaLthy Living and health promotion Inltiatives.
Myi%EL DDI.
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How we help
Hywel Dda Health Charitles works closely wlth Hywel Dda Universty Health Board to
ensure that our charity allocate5 funding to the areas where it can make the biggest
impact to the treatment and care of patients across Carmarthenshire, Ceredigion and
Pembrokeshire.
We do not replace NHS funding but use the generous donations we receive from patients,
their families and our LocaL communities to support the University Health Board to provide
services and activities above and beyond what the NHS can provide.
Hywel Dda University Health Board is the corporate trustee of Hywel Dda HeaLth Charities.
The charity is managed independentLy of the University Health Board through a separate
scheme of delegation to its Charitable Funds Committee.
We carry out our aims through the provision of grants to support and enhance the NHS
services provided by the University HeaLth Board and its partners.
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THE WISH
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Who we support
Hywel Dda University Health Board plans and provides NHS healthcare services for
Carmarthenshire. Ceredigon. Pembrokeshire and its bordering counties.
Over13,000 Members
of staff provide:
Mental health
and learning
disabilities
services
Primary care
Community
care
s In-hospital
care
The health board provides specialised services commissioned by thejoint Commissioning
Committee, and Sure Start service5 With Local authorities. It works in partnership with
local authorities, as wellas public, prlvate and third sector colLeagues, including valued
volunteers. The health board's services are provided in:
Four main hospitals: BrongLais Hospital in Aberystwyth,. Glangwili HospitaL in Carmarthen;
Prince Philip HospitaL in LlanelLi,' and Withybush HospitaL in Haverfordwest
Five community hospitals: Amman Valley and Llandovery hospitaLs in Carfflarthenshire,.
Tregaron HospitaL in Ceredigion; and Tenby and South Pefflbrokeshire hospitals in
Pembrokeshire
Two integrated care centres: Aberaeron and Cardigan in Ceredigion, and Several other
community settings
47 general practices15ix of which are Health Board managed practices)
38 dentaL practices (including four orthodontic)
97 community pharrnacies
43 general ophthalmic practices
8 ophthalmic domiciLiary providers
Numerous mentaL health and Learning disabiLities services.

Our year in numbers
In 2024-25...
133
Over
online giving
pages were
created to
support us
£1.4 million
20
people left us
a gift in their
will
was donated to
the charity
No. of times
our social
media posts
were viewed
477
players won a
prize in our
charity lottery
million

The difference you made
Thanks to yourgenerosity, in 2024-25 we were able to enhance
care, experience and outcomes for:
Over
13.000
staff
385.000
populatlon
acute
hospltals
cofflfflunity
hospitals
integrated care
centres
In the following pages we providejust a few examples ofjust how
charitable funds made a difference

We funded a state-of-the-art uLtrasound system worth over £43,000 for Glangwili
HospitaL
An ultrasound scan, sometimes c3lLed a sonogram, is a procedure that uses high-frequency
sound waves to create an image of part of the inside of the body. The new system features
advanced cLinical tooLs which enable fast assessments of patients, support clinical decision
making, aid in performing invasive procedures, and help monitor patient progress. The
ultrasound system will be used daily for patient care and will aLso be used to train ICU staff
and develop their skiLIs.
•0
We purchased a cutting-edge probe worth over £46,000 for the Respiratory Medicine
service at Prince Philip HospitaL
The new Radial EBUS processor is a small and flexibLe ultrasound probe that is passed down
through a bronchoscope, which is a thin tube with a light and camera on it. The probe can reach
areas of the Lun8 which cannot be accessed by a standard bronchoscope. This makes it easier for
clinicians to perform a biopsy on parts of the lung which are hard to reach. The Carmarthenshire
Lung Cancer campaign donated £18,000 towards the new probe, and a former patient raised
£1,500 towards the expenditure. The remaining £26.500 carne from the Cancer Services fund
and was raised by Lung cancer patients.

J¥ 11.
In 2024-25 the new Lerl cancer unlt at Bronglals Hospltal took shape. ready for Its official
openlng In May 2025. It was made possible by supporters of our Bronglais Chemo AppeaL
Speaking at the official openin& Dr Elin Jones, ConsuLtant OncoLogist at BrongLais, said:
Yoday, I'm thankingthe tireLess work of the project team who have made this happen, but
most of all, I'm thanking. truLy from the bottom of rny heart, the individuals, famiLies.
community groups, clubs and organisations, our angels who have been with u5 for the last 25
years, as it is you, who have made this a unit to serve the community as your friends and loved
ones have to face their cancer journey."
We funded 10 ambulatory heart monltors worth over £13.000 for Withybush Hospltal's
Cardio-Respiratory Department.
The state-of-the-art monitors wilL help the Cardio-Respiratory Department provide the best
possible service, with accurate. efficient and timely arrhythmia recognition provided on site or
at home. Rhys Bowen, Advanced Cardiac PhysioLogist, said: Yhey are more patient-friendLy
and easierto wearforthe duration of the test. so there WILL be less need for repeat
monitoring. They WILL also support quicker in-patient discharge due to an increase in the
number of available fnonitors and the fact they can be worn by the patient at home and
provide remote monitoring."

We also provlded over £60,000 to support Interactlve arts activities for inpatients with
dementia across the health board. including singin& movement, and art and craft
sessions.
The funding WILI provide 364 sessions across seven settings over two years. These sessions
WILL reach over 2,500 patients with dementia in OlderAdult Mental HeaLth Wards and Adult
Frailty Wards irb the three counties of Carmarthenshire, Ceredigion and Pefflbroke5hire.
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11
We provlded £4,000 forten young peopLe receivingsupportfrom mental health services
to take part In a ten-session surf therapy programme.
The Tonic SurfTherapy programme provides structured surfinstruction and gives young
people the opportunity to experience the joy and wellbeing that comes from engaging with
the marine environment. The sessions provide an effective way for SpeciaList ChiLd and
Adolescent MentaL Health Service (SCAMHSI practitioners to engage with service users in a
positive way and heLp prevent mentaL health issues from deveLoping or continuing into
aduLthood.
,,12

Your fantastic fundraising
In 2024-25 our supporters went the extra mile to make a big
difference! Here's a little fiavour of what you achieved for
your NHS charity..
Andrew Gittins from Aberystwyth, ran
around a one-mile track for 24 hours
with only 30 minutes sleep and raised a
fantastic £7.750 for the Chemotherapy
Day Unit at BrongLais Hospital.
Carwyn Evans and a group of supporters
ran an incredible 110 miles from St
Mlchael's Hospltal, BrlstoL to
Llangunnor to raise funds for the
Special Care Baby Unit in GLangwili
Hospital.
Ji
The Phll Harrnonics Rock and Pop Choir
held a Charity Gala at the DipLomat
Hotel in LlaneLli and raised £2,000 for
the Breast Care Unit and £2,000 for the
Chemotherapy Day Unitat Prince Philip
HospltaL
••*

Gerald and Diane Rogers from
Saundersfoot ralsed £4.500 for Ward
10 at Wlthybush Hospltal In fflemory of
their daughter, Julie Gwendollne Rose
Rogers. by organising a sponsored walk I
and cllmblng Yr Wyddfa.
Reg Mwandlamblra took part In the
112-mile Sportlve at Long Course
Vleekend Wales 2024 and ralsed £1.196
for the Wlsh Fund. whlch creates
lastlng memorles for choldren and
young people across the Hywel Dda
region wlth life-threatenlng and Ilfe-
Ilmlting condltions.
1-*
Over 50 adults and chlldren took park in a
3k sponsored summer stroll at pembrey
Country Park to ralse money for the
Paediatrlc Dlabetes Servlce wlthln the
health board. ralslng a fantastlc £1.667 for
the service.
14

Income at a glance
In totsl. thanks to the generoslty of our supporters, our Income for 2024-25 was
£2.02 million. The Income streams of our charlty were as follows:
£672.775
Donatlons
£734.38.6
Leg.acies
£16.327
Tradlng
£570.679
Investments
£31.994
Grants
Donations were received from patients and theirfamilies wanting to show their appreciation
for care received. The charity is extremely grateful for all donations received to help us realise
our aims. Some donations were received in memory of a loved one and we are proud to know
that the treatment and support received has been so vaLued.
In 2024-25, the charity was the grateful beneficiary of a number of legacies totalling £734,386.
The trading incoffle reLatesto our charity lottery.
Investment income in the form of dividends and interest frorn investment and cash balances
heLd by the charity as weLI as rent from our investfflent property was received totaLling
£570,679.
Grants were received from NHS Charities Together, Tesco Stronger Starts and the Co-op Local
Community Fund.

Expenditure at a glance
The charlty Is prknclpally a grant maklng body. Durlng 2024-25 the charlty has contlnued
to support a wlde range of charltable and health related activitles across Hywel Dda
Unlverslty Health Board and spent a total of £2.65 mlulon on making things better.
Includlng the foUowin8•
£161.000
£2.178.000
£70.000
Bullding a
refurblshment
Offlce & computer
equlpment
Medlcal & Surgkal
equlpment
£164.000
£71.000
Patlent educatlon & Stsff educatlon &
welfare
welfare
H¥alh Chirflp..
•4
Elch elusen GIG
Your NHS charity
16

Our plans for2025-26
In 2025-26 we wlll focus on achieving the objective5 identified in our 2025-26 workplan:
1., Raisea,w'are.ness of the, charity internally and empower
health board stafftoaccess ou,r fun.ds in line w,ith our
charitable objectives
2. Provide a comprehensive range of opportunities and
support to our fundraisers and powerfully communicate the
impact their fundraising has
3. Ensure that the charity operates as efficiently as possible
By achieving these goals we wiu progress towards our longer-term objective5 a5
identified in ourfive-yearstrategy. approved by the Charitable Funds Committee. which
provide a clear direction forthe charity SO that we can continue to make a positive
difference to the health, weLLbeing and experience of patients, service users and staff
across Hywel Dda University Health Board:
l.. Fund services and activities aboveandi beyond what the
2. Stabilise our income levels and convey the impact of our
work
3. Make the best use of our resources to maximise our
impact
17

How to support us
Be a part of our story in 2025-261 Get In touch using the
details below to find out how you can donate. fundralse.
or support us in a number of other ways.
www.hywelddahealthcharities.org.uk
01267 239815
fundraising.hyweldda@wales.nhs.uk
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#EichElusenGIG-#YourNHSCharity
Re9iStered witwcolr*Strwyd gyda'r
Registered charity
number: 1147863
GIG
Bwfdd lethyd PTifysg01
Hywel Dd
Universlty Health Board
FUNDRAISING
REGULATOR
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18

1. Financial review
Incoming Resources
The chart below shows our main sources of income in 2024-25. Incoming resources for
the year totalled £2,026,161; our largest source of income continues to be g￿tS and
donations from the public either direct or through corporate giving.
Charitable Income 2024-25
0.81Y.
Donation5
28.17%
33.20%
Legacies
Grant income
Investment
1..58Y.
Other trading income
36.24%
Donatlons (£6721775)
One thlrd of the Chariws income comes from the voluntary efforts of staffi patients and thelr
farnilies wanting to show their appreciationforthe care and support they have recelved. As
expected, thls Income is le55 than last year (2023.24 £724,519) when donatlons were higher due to a
specific appeal for the Bronglals Chemotherapy Unit. We remaln extremely grateful forall the
5UPPOrt the publlc and staff have given us to help realise ouralms.
Legacles (£7341386)
The charity was also the grateful beneficiary of a number of legacies totalling £734,386 (2023-24
£1,424,750). Legacy income was lower than last year, when a slgnificant £1.3million legacy was
received.
Generous legacles received durlngthe year Included:
A legacy of £267,408 to the GGH Oncology Fund
A legacy of £191,394 to the Cardigan Hospital- General Fund
A legacy of £80,000 to the Bronglals General Hospltal CDU Outpatients Area
Grants (£31p994)
Grant income has reduced this year (2023-24 £66,412). We are grateful to other charities and
Similar organisations that have given us grant5 to fund projects or purchase pieces of
equipment. This year, grants were received from NHS Charltles Together (£26,642), the Co-
Op Community Fund (£5,227), and Groundwork UK (£2,125).

Other Trading Actlvitles (£16p327)
other trading actlvltles relates to income from Hywel Dda Health Charities Lottery.
Investment income (£570,679)
Investment income totalling £570,679 was received in the year, this conslsts of dividends and interest
from investment and cash balances held by the charltyi as well as rental income. Investment income
equates to 28.17% of total income.
Expenditure
The charity is principally a grant maklng body, provldlng grants to Hywel Dda Unlversity Health Board
a5 a contrlbution to the cost of the provlslon of healthcare beyond what the NHS
provldes. During 2024-25 the Charity has continued to support a wide range of charitable and
health-related activitie5 across Hywel Dda Universlty Health Board.
Our key alm Is to serve the NHS patlents of Hywel Dda Unlversity Health Board for the public benefit.
By worklng closely with the Universlty Health Board, we are able to use our generous donatlons to
provide invaluable 5UPPOrt on patlentfocu5ed expendlture.
Our grant maklng pollcy ensures that all expenditure of our charitable funds is in accordance wlth the
charltable purpose agreed for the fund and In the splrlt of the donorfs wlshes. All charltable
expenditure Is made with conslderatlon glven to the publlc benefit of Improved healthcare. A
rlgorous process of revlew and evaluatlon 55 carried out on all funding requests to ensure they are of
the highest standard.
Analysls of expenditure
In 2024-25 expenditure on charitsble actlvltles totalled £2,646,887. The expendlture categorles were
as follows:
Charitable Expenditure 2024-25
5.41.
•Building and refurbIshr￿nt
2.44%
9.98%
5 60Yo
Medical & surgical equiprnenl
Miscellanoouts expenditure
n ORY.
Office and computer equipment
Patient education & welfare
staff education and welfare
74.04%
*Supporl costs
20

• Building & refurbishrnent- Enhancements made to buildings to provide additional
patient benefit and care
Medical and surgical equlpment- Equipment for patient benefiL
MiscellaneoLrs- All other expenditure.
Office and computerequipment- Equipment, which support5 the provision of
healthcare thereby benefiting patient care.
Patlent education and welfare- Expendtture on Improvlng patient education and
welfare
Staff education and welfare- Includes training above that which is mandatory to
lrnprove patient care
Support costs- Direct adminlstration costs In support of the Charity's oblectives.
Management and admlnlstratlon costs
The total management and admlnistration cost5 for 2024-25 were £547,221 (2023-24: £551,025)
whlch Includes £283,181 fundraisingcosts and £264,039 Support Costs. This represents 4.6% of the
opening fund balance5 held as at 1 April 2024.
The charity improved the apportionment of staff time between fundraising, support and
governance role5 In 2024-25.
Investments and performance
The charity retains the servlces of investment advlsors to manage Its Investment portfollos. Pollcy Is
set by the charity trustee In Its instruction to thelr advisor. The advisors have been instructed to
manage the portfolios to produce both income and capital returns, and manage those funds withln
the value they retain on the accounts. The charlty also holds funds In short term Investments that are
not managed by the investment advlsor.
Durlng 2024-25, there was an unrealised loss of £375,754 due to a decrease in the market value of
Investments held during the year. This combined with investment Income of £570,679 gave a total
In year gain of 2.1%for Investments held bythe charlty.
CCLA provided the servlces of Investment advlsor for 2024-25. These Investments are
managed In accordance with the Trustee Act 2000.
Overall flnanclal position: 31 March 2025
The value of the charity as at 31 March 2025 has decreased frorn the previou5 year by £1,279,661.
This is largely due to the Charity Spending brought forward restrlcted funds.
At 31 March 2025,The chariVs total reserve5 We￿ £10,714,574. This figure Includes £1,082,605 of
restricted funds, £2,365,918 of endowmentfunds and £7,266,052 of unrestricted reserves. The
unrestricted reserves figure includes £6,157,655 of designated funds and £1,108,397 of free reserves.
21

The graph below indicate5 the level of funds held a5 at the end of the year in the last five
flnancial year5:
Fund Balances 2020-21 to 2024-25
2024-25
,715
2023-24
,994
2022-23
,946
2021-22
774
2020-21
10,4
£7,000
£8,000
£9,000
£10,0(X)
£11,0(K)
£12,0(K)
Funds 8alance3 £000'8
Reserves pollcy
The charity has a reserves policy and has deflned free reserves to be the element of funds that are
freely available for it5 general purposes. Free reserves are the resources the charlty can make
available to spend for any or all of the Charity's purposes once it has met Its commltments and
covered its other planned expenditure. Thls means It excludes Pernianent endowment, restrlcted
funds and designated funds.
Free reserve5 are needed where there may be insufficient balances In Individual restrfcted and
designated funds to meet the objecttves of those funds. There Is also a need for free reserves where
there may be a requirement to incur expenditure whlch Is exclusively charftable, and cannot be
funded from revenue, for which there is not a relevant fund.
The charfty shall hold a separate ftxed asset investment reserve based on 10% of the value of its fixed
asset Investments retained and a minimum of £500,000 to ensure there is sufficient funds for on-
going commitments. The fixed asset investment reserve shall only fall below io% to cover losses In
the value of fixed assets.
22

In orderto maintain the reserves a5 low as possible it is important:
expenditure plans are developed for all the relevant fund5
• monthly financial reports are produced to monitor level of expendlture
the value of flxed asset investments performance is reviewed quarterly.
The total free reserves held by the charlty as at 31 March 2025 was £1,108,397. This is in excess of our
reserves policy. The excess has arisen in the year due to a significant legacy that wa5 gifted for
general purposes. Expenditure plans are being reviewed and since the year end the Corporate
Trustee has agreed to make £400,000 available for grants applications.
23

2. Structure, govemance
and management
Constitution
Hywel Dda University Local Health Board holds charitable funds as sole corporate trustee and the
board members of the Univer51ty Health Board (whllst not'trustees" In their own rlght) are lolntly
responsible forthe management of those charitable funds. The membershlp of the board during
the reporting perlod and up to the date the annual report was approved was as follow5:
Votingmembers:
Neil Wooding, Chair (from 01.06,2024)
Judith Hardisty, Interlrn Chair (until 31.05.2024)
Eleanor Marks, Vice Chair
Philip Kloer, Chief Executive (from 22.10.2024)' Interim Chief Executive (until 21.10.2024)
Anna Lewis, Independent Member
Ann Murphyi Independent Member
Chantal Patel, Independent Member
Delyth Raynsford, Independent Member (until 31.03.2025)
Iwan Thomas, Independent Member
Maynard Davies, Independent Member
Michael Imperato, Independent Member
Rhodrl Evans, 5ndependent Member
Sarah Harraway, Independent Member (from 06.05.2025)
Winston Weir, Independer)t Member
Andrew Carruthers, Chief Operating Officer
Ardiana Gjini, Executive Director of Public Health
Huw Thornas, Executive Director of Finance
James Severs, Executive Director of Allied Health Prof esslons and Health Science
Lee Davie5, Executlve Director of Strategy and Planning
Lisa Gostling, Executive Director of Workforce and OD and Deputy Chief Executive (from 02.12.2024),
Interim Deputy Chief Executive (until 01.12.2024)
Mark Henwood, Executive Medical Director (from 22.05,2025), Interim Executive Medical Director
(until 21.05.2025)
Sharon Daniel, Executive Director of Nursing, quality & Patient Experience (from 01.04.2025), Interim
Executive Director of Nursing, quality & Patient Experience (until 31.03.2025)
24

The Director of Nursin& quality & Patient Experience is the Executive Director with lead
responsibility for the charity.
Key Management Personnel Remuneration
The Corporate Trustee (through the Charitable Funds Committee) comprise the key management
personnel of the Charity a5 It is in control of directingthe Charity. The Charity does not make any
paymentsfor remuneration nor to reimburse expenses to the Board members for thelr work
undertaken as Corporate Trustee. Board members in their role as Corporate Trustee are required to
dlsclose all relevant interests, reglsterthem with the Health Board and withdraw from decisions where
a confllct of Interest arises. All related party transactions are disclosed in note 2 to the accounts. (There
were no such transactlons in 2024125.)
Trustee Recruitment, Appointment and Induction
The Chalr and Independent Members are appointed by the We15h Government, and together wlth
the Executive Dlrectors are the Corporate Trustee of the Hywel Dda Health Charities.
New members of the Board are provlded wlth an Induction pack consistlngof the Charlty's
governing documents and policies and procedures as well as previous annual reports and accounts
and Charity Commission guidance.
Charitable Funds Committee
The Charltable Funds Committee 15 appointed by the Board from the Independent Member5 who act
as 'agents' of the Board as sole corporate trustee. The Committee Is required to:
control, manage and monitor the use of the fund's resources.
provlde support, guidance and encouragementfor all Its fundraislng activities
whllst managing and monltorlng receipt of all income;
• ensure that best practice is followed In the conduct of all Its affairs fulfllling all of
It5 legal responslbillties;
monltor the performance of the appolnted Investment advi50rwhllst being
aware of ethical conslderatlons.
keep the University Health Boardfully informed on the activityp performance and
risks of the charity; appoint the investment advlsors to the charity.
Members of the Charitable Funds Committee also receive regular Informal training and briefings on
current charity issues at quarterly committee meetings. As the charfty Is a member of the
Association of NHS Charitles, commlttee members a150 receive regular briefings on area5 of interest
and detai15 of relevant tralning opportunities to enhance their skills.
25

Objects of the charity
Hywel Dda Health Chartties has registered the following oblects with the Charity Commission:
'The trustee shall hold the trust fund upon trust to apply the income, and at Its discretion, so far a5
may be permissible, the capital, for all or any charttable purpose or purposes relating to the National
Health Servlce."
Charity Independence
The charltable funds Ilnked to the Unlverslty Health Board are independent of the'excheque
(Governmentfunded NHS) funds of the Unlversity Health Board and rnu5t be managed separately
even though they are malnly to be used to support the work and servlces of the NHS body.
The Charity Commlssion has regulatory responsibllSty for ensuring the proper management of these
charltable funds.
The charfty needs to be Independent from, yet supportlve of, the Unlverslty Health Board. The charlty
therefore focuses on the followlng charitable purposes, recognised In law (Charltles Act 2022):
The advancement of health or the saving of Ilve5
And to a lesser degree
The advancement of educatlon
The relief of those in need, by reason of youth, age, ill-health, dlsability, financlal
hardship or other dlsadvantsge
The charfty ralses monles, hold5 those monles and commlts expenditure through more than 198 local,
general and special purpose funds.
Within expenditure authorlsation Ilmits local fund managers declde on and commlt expenditure forthe
benefit of the area concerned.
Our staff and advisors
Bankers
The charity has retalned the banking services duringthe year from Barclays Bank, 9-10
Guildhall Square, Camiarthen, SA311PW.
External auditors
The ChariW5 auditors during the yearwas Audit Wales. 1 Capital Quarter> Tyndall Street, Cardiff, CF10
4BZ.
Investment managers
CCLA Investment Management Ltd, One Angel Lane, London, EC4R 3AB
26

Fundraislng activitie5
During 2024-25, the University Health Board employed nine members of staff (8.71 full-tlme
equivalent) to supportthe fundraising and communications function5 of the charity.
The fundraisingsUPPOrt team is responsible for increasing the Charity's income to support Hywel
Dda University Health Board to provide services and actlvltles above and beyond what the NHS can
provide.
The team is responsible for promotingfundraislngfor and givingto the charfty and provides support,
advlce and guidance to fundralsers to ensure that all fundraislng Is carried out In line wlth regulation
and best practice.
The team also a5SlSts many charitable groups and assoclations that provide both flnancial
and non-fSnanclal supportfor healthcare services across our three counties.
Grant making policy
To achleve its objectlves the charity makes grant payments to Hywel Dda Universlty Health Board in
accordance wlth charity law, our constitutlon and the wishes and direction of donors.
In maklng grants, we endeavourto reflectthe wlshes of patlents and staff by dlrectlng funds towards
areas theytell us are most In need.
Hywel Dda Health Charltles makes grants from both Its unrestricted and restrlcted funds. Wlthln
the unrestricted funds, grants are madefrom general fund5, designated (earmarked) funds. Income
generated from endowment funds are held a5 restricted Income and applied within the restricted
purpose of that endowment.
In the awardlng of our grants, conslderatlon Is gfven to the Charfty Cornmlsslon's guldance on publlc
beneflt. To ensure publlc benefit and value for money when authorising charitable
expendlture, applications for charitable funds include questions on the purpose of the
application to the charltyi why the expenditure 15 requlred and how the expendlture meets the aims
of the charity.
Investments
The Corporate Trustee holds the Pembroke5hire Cardiology Equipmentfund as a separate
investment portfolio,which is managed with the advice of CCLA with an oblectlve of the fund to
achieve long-temi capital and Income growth.
The Corporate Trustee has approved a total retums policy forthls fund and the FE Smith Legacy
Fund. Income is credited back to the charity bank account and held as restricted income.
27

Other Investments of Hywel Dda Health Charities are also managed with the advice of CCL4with
an objective of the fund to achieve long-term capital and income growth. Both portfolios are
structured to permit a range of investments intended to yield a competitlve rate of return in
current market conditions.
The investment advisor actively manages the assets and has delegated authorityto purchase and
sell when market opportunltles arlse. The Corporate Trustee has decided not to Invest in companles
who are:
Involved in the production or manufacturing of tobacco
supply tobacco products where turnover or rnore that 5% is derived from thi5 source
involved in the production, manufacturfng of alcoholic beverages, where more than 25% is
derived from this source.
Investment managers are required to present In person to the Charltable Funds Committee at least
quarterly. The Charitable Funds Commlttee will con51derthe reports and presentations from the
Investment manager(s) together wlth current cashflow reports and forecasts.
28

3. Riskmanagement
Exposure to risk
The Chief Executive of Hywel Dda Unlverslty Local Health Board, together with the other
directors, is responsible for ensurlng that an effective system of financial control is
maintained. The Chief Executive and other directors are also responsible for reviewlngthe
effectiveness of thls system and have confirmed that the mlnimum control standards laid down by
the Welsh Government have been in existence throughout the financial year. The minimum control
standards apply equally to the managernent of the charity by officers of the Unlversity Local Health
Board as to the exchequer funds of the University Local Health Board. In this wayi the major risks
to which the charity Is exposed have been revlewed and systems have been established to mitigate
those rlsks.
Financial control
A financial procedure, expenditure guideline, governance framework and Strategy have been
developed to ensure that there are sufficient management controls In place to:
ensure that spending is in accordance with objects and prioritles agreed bythe
Charitable Funds Committee"
ensure the criteria for spending charltable monles are fully met;
ensure that the accountlng records are malntained.
ensure devolved declslon-making Is wlthln specified parameters. Internal Audit a150
undertake annual reviews to evaluate the adequacy of procedures and controls, to
ensure compllance, and to provlde reasonable assurance over.
achievement of management oblectlvesfor the system5;
use of resources In accordance with donors requlrementS'
compliance wlth pollcles and procedures;
safeguarding a55et5. The Intemal Audlt reports are presented to both the
Charitable Funds and Audit Committee.
Investrnent risk
The risk is minimised by agreeing an Investment policy with the nomlnated investment
rnanagers. This policy includes ethlcal conslderatlon where Investments In the productlon,
manufacturing or supply of tobacco or alcohollc beverages conflict with the charltable
objects.
In assessing companles, Involvement in these sector5 the following Ilmits have been set:
investment in the production or manufacture of tobacco products at any level.
investment in the productlon, manufacture of alcoholic beverages where more
than 10% Is derived from this source.
Further to the above, the investment managerfs perforniance is reviewed in each Charltable Fund
Committee meetlng and compared to charitable investment benchmark.
29

HYWEL DDA HEALTH CHARITIES
ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025
FOREVKJRD
The arLounts IfiTranci81 st8tementsl have been prep8r8d In sccordanco ¥￿th the $18tsm8nt of
Re¢ommend8d Praclic8'. Accounting and Reporting by Charities preparing th&ir accounts in
accordanc8 with ihe Finanrial Reporting Standard 8ppIic8bl8 in the UK and Republi¢ of Ireland IFRS
1021 second edition issued October 2019 and applie5 to report periods beginning on or af18r 1
January 2019. This edition con501idales the change5 tv the Slalemenl of Recommended PrHcti
ISORPI for Update BullBtins 1 and 2, the Charities Act 2022 and changes to UK Generally Acc8Pt8d
Accounting Prdclicg Since the kgunch of SORP IFRS1021 on 1S July 2014, 88 118pplies for 18POtting
periods beginning on or after 1 J8nuHry 2015.
STATUTORY BACKGROUND
The Hywel Dda University Local H9alth Board 18 the co￿Orate trustto of th8 charlty under paragraph
16¢ of Schedu18 2 of th8 NHS and Community Care Act 1990.
The Trustee hag been appoinlèd under 611 of the NHS and Community C8r8 Act 1990.
MAIN PURPOSE OF THE FUNDS HELD ON TRUST
The main purp￿8 of tho charity18 lo apply income lor any charllob18 purp058s r8lallng lo the Nallonal
Health Servlcfj wholly or mainly for the servic88 provlded by the Hywel Dda Unlversity Local Hoallh
Bo8rd.
Page ao

Hyw81 Dd8 H881th Charitie5
Statement of Financial Activitie8 for the year ended 31 March 2025
Total
Fund8
2024.25
£000
Unrestricted Restricted Endowment
funds
funds
funds
£000
£000
£000
Note
Incoming r8sourc88 ftom genernted funds:
Donations, legac￿$ & grants
Other trading aclivi118S
InvesbM8nts Income
Total Incornlny resourc48
Expondlturo on:
Raising Funds
Charrtable gctivitie8
Total èxpendrture
1.141
18
287
298
1,439
16
570
2,02S
216
614
67
67
162
590
121
2,056
283
2,646
Net Ilossl on investments
Net Incom6 I lexpendltlrrel
Tran5f&r betrween funds
13
157
11181
11,7811
12,318
14,0991
101
13761
1341 11,2801
175
535
18
2.493
N•t movement In lund•
3,028
12091 11.2801
Retontillation of Fund#
To181 Funds brought forward 35 811 Aprfl 2024
Total Funds ¢8rrlèd forward 88 at 31 March 2025
19
4.238
7,266
5.181
1.082
2.575
2,366
11,994
10.714
Hyv4•1 Dda Hoalth Ch•rltla8
Stat•ment of Flnancial ActivlU8s for tho year ended 31 MarGh 2024
Totsl
Funds
2023-24
£000
Unrg•trictsd Restricted Endowment
fund$
fund$
fundq
£000
£000
£000
Incomlng ro•our¢o8 Irom gonernted funds:
Donations ond legacies
Other tr8ding activities
InveslmÈnls In￿rne
Totsl Incomlng r••ouree•
1,910
15
152
2.077
308
2,218
IS
451
2,682
232
538
87
87
Exp•nd5tur• on:
R8i8ing Fund8
Chantable acliv111e8
Total gxpendituro
N81 Ios8 on investrn8nli
Not Income I14xp&ndltur•l
117
1,242
1,359
179
1,859
2.038
296
3.155
3,461
237
955
363
11,1371
217
230
817
Transfer be￿￿en funds
{131
1291
42
Not mov•m•nt in fund$
11,1661
272
Re¢on¢lllotlon of Funds
Total Fund5 brought foward a5 at 1 April 2023
Total Fund$ ¢8rrl•d forward as at 31 Marth Z024
6.347
5,181
2.303
2,575
11,946
11,994
4,238
PaKe31

Hyw81 Dda Health Charitigs
Hywel Dd8 Hèalth Charfties Balance Sheet as at 31 March 2026
Totsl
Unr8strlctètl Restrfcted Endowment 2024-25
fund$
funds
funds
£000
£DOO
£000
Total
202&24
Note
£000
£000
Flxed a888ts'.
Inveslmanls
Total flxed assets
13
5,622
S,622
837
837
2,289
2,289
8,748
8,748
9.124
9.124
Current ass8ts.'
Debtors
Cash al b8nk and in hand
Total current
14
15
58
2,855
2.913
16
61
77
138
4.986
,124
1S6
6,148
6.304
2.070
2.134
Creditors falllng due w￿h1n one year
490
2.509
2.999
3,192
Not ¢urrent a88•t8
1,644
404
77
2,126
3,112
Totsl a88ets le88 curront liabllltl••
Creditors f8lllng due after moro than on8 y8sr
16
159
159
242
Totsl ngt 888Ot8
7,268
1,082
2,366
10,714
11,994
The fund5 of thfj Ghar6ty'.
Endowment fund5
Re$irl¢t8d funda
Unrestricted funds
19
19
2,366
2.366
1,082
7,286
2,S75
5,181
4,238
1,082
7.266
Total funds
7,268
1,082
2,366
10,714
11,994
Th8 note8 on p8g84 3444 form p4rt of them accounts
Slgned
N￿$ .' Eleanor Mark4 Ivlce-chalr of tho Corporate Truste81
Dat•
21
P4e a2

Hywel Dda Health Charities
Statement of Cash Flows for the year ending 31 March 2025
Total
Total
Funds
Funds
2024-25 2023-24
£000
£000
Note
Cash flows from operating activities:
Nat cash provlded byllused in) operatlng activities 17
{1.732}
266
Cash flows from Investing actlvltles:
Dividend, interest and rents from inveslm&nts
Proceeds from the sale of investments
Purchase of investments
Nèt ca8h provlded by Investing activities
570
451
13
13
570
451
Change In cash and cash 8qulvalents in the
repoitlng period
(1,1621
717
Cash and cash equivalents at the beginning of the
reportlng perlod
15
6,148
5,431
Cash and cash equlvalents at the end of the
reportlng period
4,986
6,148
The notes on pages 34-44 form part of these a¢¢ounts
Page 33

Note on the accounts
l A¢¢ounlng Pollcl85
lal Basis of prepardtlon
The finanaal statements hav8 be8n prepared under the histori¢ cost conventr'on, wilh th8 8xceptkon of
invèstments which ar8 included at fair value.
The accounts (financial ststementsl have been prepared in accordance with the Statement of
Recommended Pra¢tice'. Accounting and Reportlng by Chaiitses preparing their accounts In 8Gcordance
with th& Financial Reporting Standard appli¢able in th8 UK and Republic of Ireland IFRS 1021 second
8dition i5suod October 2019 and appli88 lo report Pefiods beginning on or after 1 January 2019. This
edition con$olQates the chsnges lo the Slalemonl ol Recommendad Practic8 ISORPI for Update Bu118tins
1 and 2, the Charitie$ Act 2022 and changes to UK Generally Accepted Accounting Practice since the
launch of SORP IFRS1021 on 16 July 2014. a5 il applps for reporting periods beginning on or after 1
Janvery 2015.
Th8 8ccoun18 lflnancial slaternonlsl have bven prepared lo give 8'truo and fairf view ttnd hove depart8d
frem the Chaffti85 IA¢¢oun18 and R8POrtsl R8gu18tion8 2008 only lo the extent rtyuir8d to provlde s 'lru•
8NJ faSr vS8W. Thi8 departur? h88 involved following A￿￿￿ting and R8Parting by Ch8rits'88 pr¢pgthng th8lr
accounts In accordance with Ihe Financial Reporting Standard applicable in the UK and REpubli¢ ol Ireland
IFRS 1021 Issued on 16 July 2014 rather than th8 Accounting and Rèportin9 by Charities.. St8t8menl of
Recomm8nd8d Piaclice eff8Ctive from l April 2005 which has sinc8 b8en withdrawn.
The Tru$lee ¢onsid8r8 that there are no material uncsrtalnties about the Charity's ability lo continue a3
gdng concern. There sre no malemal uncgrtalnU88 8ffacllng the current year$ o¢¢ounl$.
In future y88rs, th8 key risks to th8 Charity a￿ a fall in incom8 from donations or investment income bul the
Trustee h88 8riangemenls in place to mitigate those risks IsEe the ll5k management 8nd re8erv88 sections
ol the 8nnu81 report for more inform8tlonl.
The Charity meets Ihg definth'on of a public b•n•fil •ntify under FRS 102.
Ibl Funds 8tructuro
lfvhgre there 15 a kg81 reslriclion on the purp08e lo which 8 fund m8y be put, the lund18 classifled 8￿her
88.,
A reslricled fund or
An endowmant fund.
Restricted funds are those where th? donor h8s provided for lh8 donation to ba spent in furtherance ol 8
$p•crfiod ¢harSlable purpoB•. The Charity'8 r8slrided fund8 ttrnd te fesull from appeals or legacies for
specified purpoBaS where a tru81 has been imposed.
Endowment fund$ 8ri8e when the donor ha5 expre551y prov￿ell Ihol tha grft is lo be inves18d and only the
incom8 of the fund may be spent. These funds are 8ub an8ly8ed bètween thoso whore the Twslee has the
di5crelion 10 spend the capital lexpendablg endowment) and IhoEO where th8r8 is no discretson lo expond
the capitsl (permanent endcwrnenll.
The Charity h86 four permanent endowrnent lund,two of which (the Pernbrokeshir8 Cardiology EquSpm8nl
Fund and th£ F E Smilh Legacy (Capital in Perpetuilyl Fund) are Tn8n8ged on a total relums basis. Thi5
means that tho funds are invested lo maxirnise the return on Inveslmenl without regard to whethgr that
r8turn 18 in the form of incDm& trom dlvidend8 or Intsrest or capital apprao8tion Iwhefe tho market value of
the investrnent in¢￿8$e$l.
Tho$8 funds which A￿ neither 9ndowmenl nor re$iricied incom6 funds. are unrestricted income funds
which a￿ sub an8lysed between designated learmarkedl fund8 wh8r8 the Trustee has set 8svJe @mounts
to be used for 5pBcIIic pu￿05e5 Dr which ref￿cl th8 non-binding wishes of donors and unrestricted funds
whi¢h are 81 the Tru&tse's diBcrelion, including the genero1 which repre88nt8 the Charity'$ re5em8.
The major funds held In each of these catagories ar8 di8clos$d in note 19.
Page34

Icl Incomlno ￿tsurGe$
Income ¢on$i$ts of donatlon$, grants, leg8ci88, Incon* from charilabk activ￿88 and lnves1rn￿t inGoTn•.
Donations are accounted for when rEGEived by the Chanty. All other income is ￿tOgniSed once th8 Charity ha$
Bnlitlemenl to the resources, il is proba￿8 Imore likely than noll that th8 rasourc&s will ￿ re￿IVed and the monetary
value of incomlng ￿$D￿[Ce$ Can be measured with sufficient reliability.
Where Ihere are lérn￿ or conditions allachèd lo incoming resou￿$. p8rt￿ul8rtY grant5, then these temis or
conditions must be mat befofe the Income Is recognised as the enlillernent condition will not be 8811sf￿d unlil that
point. Where terms or conditions have not been mel or uncertalnly axists as to whelhar ihey Can b8 m8t Ih8n th8
relevant In￿Me is not re¢ogni$ed in thg year but def8rr8d and shown on the balan￿ $he8188 defeired Incom8.
Idl Incomlng rèsources frorn 18gacl85
L8g8c188 are 8ccoun18d for as incomlng ￿sOurc8S either upon r8C8iPt Orwhe￿ the r8r*lpt of the legacy18 prob8blè,
whichever falls sooner.
Re￿IptI8 probable wh8n'.
Confirmation has been re￿1V8d from th8 repr&8entallv85 of the esiat&(sl that probate h88 b88n gr8nled
• The 8x&culor8 h8ve establlshed thal there afe sufficient assets in th8 esl81è lo pay the legacy and
All condlllon$ ÈttaEh6d lo th• ￿8¢Y hsve boon fumlled or ara wllhln ¢he Charity's control.
If there & uncertainty as lo thè amount of Ihe legacy and Il cannot b& r81Iably estkngt8d then the leg8cy is shown a6
contingent 88sel until 811 of th8 conditions for Income r8COgnltlon 8re mel.
lol Incomlng resources from ondowment funds
The incoming resourc8$ retslved from the invested endowm8nl fund are wholly r8slrlcied.
If) Re80urc88 expbnd•d and Irre¢ov8rabl• VAT
All Oxpendilure is accounted lor on an 8ccru818 bas15 and ha5 b8en classmed under h8adlng5 that 8ggragate all costs
related lo each category ol expense shown in thg Ststem8nt of Fln8nd81 Aciivlts"08. Expendllur81s racognked when
the following criteria are met..
• Thera Is a prasenl logal or con$trucllve obllgallon re&ulling from a past event
It 18 more likely th8n not that 8 Iransf8r of ben&frt$ IuBually 8 ¢8sh payment) wlll be r6qulr8d Sn 8etllernent
The amount of the obligatbn can b8 m885ured or eslirnaled re118bty
Irrecoverab￿ VAT 18 ch8rg&J 8g8lnsl the c8t8gory of re8ourceg ¢xpondgd for which 11 was incurred.
Igl R•cognltlon of ex￿ndItUr0 and 88soclated llablllt1￿ as a result of 9rants
Grants payable are paymBnl$ made lo linked, related pariy or third party NHS bed￿8 and non NHS bodies, in
furtherance of the charitablè objectives ol the fvnds hgld on Iru81, primarily relief of Ihoso who are Sick.
Grant paymènt$ ara iecognise(J 89 expenditure whgn the ¢￿dItIonS lor Ihelr payment hav8 b88n rn81 or wh8r8 Ihare18
g Constructive obllgalion to Make a paymènt.
A construct￿e obllgation arlses when..
INe have cornmunicAled our inlenli## 10 aw3rd a grant to 8 r8clpk?nl who then h88 a reasonable
expectation that Ihay will receive a grant
We have rnad& a publi announcement about a commitment which ￿ 5pecifjc onou9h for r8eipiant
have a ￿a$¢nable 8xpeclalion that they will receivo a grani
There 15 8n established pattern Df praGts'c6 which Indicate8 to the reCip￿nt thatwe wlll honour our
commltment.
Tho Trustee has ¢onlrol over the amount and lirning of grant payment$ and consequently where apprDv&I has been
given by the Trustee and any ol the above criteria have been met Ih8n a liability is recognised. Grants are not Usually
awarded with condition5 attached. However. when they are then thos& conditions have lo be mel before the liability 15
recognised.
Wnere an intention has not been Eommunlcated, then no expenditure 15 recvgnlse¢J but an approprièle designation is
made In the appropri218 fund. If a grant has b8en offered but Ihore Is uncertainty as to whether it will be attepled or
whether conditions will be met then no ILqbility recognised bul a contlngent liability Is discloswj.
1È35

Ihl Allocatlon ol support costs
Support rusts are those ¢osl$ whi¢h do not relate diiectty lo a Bingle aelivily. Thas8 include staff cost5, costs of
administr8tion, internal and external audit costs. Support costs have been apportltsned b￿￿Éen fundraBing costs and
charitable activilès on an 8ppropriate basis. Th8 8naly5is of support C051y and the basis of apportiontnent applied a
shown in nots 10.
lil Fundraising costs
The costs of generating fund5 ai8 those costs sllribut8bl8 to genaiatlng Income for the Charity. other than those costs
in¢urred in undeneking ¢harit8ble 8ciiwlie$ or the costs incurred In undertsking Iradlng acliviliB5 in furthgranTr of the
Charity'5 objects. The costs Df generating funds represent fJndral3ing costs ItsG8thèr.. Fundroising costs indude
8xpen585 for fundraising aclivi118s and a fe& Pa￿ lo a related party, the Health Board, under a fundralsing agreement.
The f88 is used lo pay the salaries and ov8rh8ad costs of th8 Health Board's fundraising offic8.
111 Charltablo actlvltl8S
Costs of charitable aclivlties comprise all ￿91$ incurred In the puisuil of the charitabl8 obj8Ct5 of the Charity. These
costs, where not wholly allribut8ble, are apportioned be￿een the calegories of charitable expendlture In Bddilion to
th8 diraci costs. The to121 costs of each cal89ory of charitabl8 exp8ndilur8 Include an appcrtlDnrnenl o15UPPOrt costs
a5 shown In note 7.
Ikl D•btors
D&biors are amounts owed to the Chadly. They are me8sur8d on the baslB of Ihair recoverable amount.
Flx•d A8SOt Investmonts
Inve51rnen15 are a forrn cf basic financi81 instrument. Fixéd Asset Investments are inidally recogni38d at Ih8lr
tr8n58cllon value and are subsequ8nlly measured al their fslr value Im8rkel v8luel at the balanTh 5h861 dale. The
Ststsmenl of Flnontial Aclvltl8s Includ88 th8 n81 gains and1088e8 8rising on r8valuatlon di5PO881 throughout th
year. Quoted stocks and sh8re5 are included in the ealance Sheet al the Swlng Pfice on the v8lu8lion d8t8.
Inv88lm&nl pioperlie8 ara valued 81 fair value (market valu?) and are Mvalu￿ every 5 years. Other inveslrnnls arg
InGludEd al the Tru51ee's best e$Umai& Df martel value.
Th8 main forn of fin8nci81 rlsk f8ced by the Chsrity 15 th8t of volalillly in equlty rnafkots gnd inve$lmenl m8rkat8 due
lo thé wi¢Jer economic conditions. IhÈ ottitvde of investors lo inv8slment risk and changes in sentiment concerning
equilles 8nd within partlcular 50Ctor5 or sub seGlor5, Further infoimabon on the Charlty's Inveslm¢nl$ can be found In
note 13.
ImlCa$h and ¢o&h oqulval8nts
Ce$h 81 tiank 8nd in hand 18 held to m&&t the day to d8y running costs 01 the Ch8rily 8s they fall du8. Cash aqulvalenls
ara short iem, hpjhly liquid invo$lmtrnts, usually in bMI day notice or bB$ Intere&¢ be8rlng savlngs accounts.
Inl Crodltors
Creditors are smounts owed by the ch8rily. They are measured al thè 8mounl that Ihe Charity expects lo heve to pay
to settle the debt.
Amount8 which ar8 OW8d In morè than a y88r are Bhown as long le￿ credltors.
lol R8allsed g8lns and 105888
All gain5 8nd losses Ore taken to the StaleTnent of Financi81 Activities 88 they arise. Realised gains and losses on
inveslments are calcul8led as the drfference bBiween sab$ pr#￿ed$ and opening carrying value Ipurcha8e dale if
12terl. Unr8alis&d gains and Ioss88 are c21culated as thè diffar8neo be￿een thè rnathèt ¥alutr at the year end and
openlng carrying value lor purchase date rf lalerl.
36

l RÈlatèd patytranEacllon
any ffliWaltrans￿￿l￿￿1Ih theFt￿ Dth He&lh ChBrflles.
Bowd rthetJellN]r51am Chgrty and ex¢heqLwDwttersaDduDtrds4R In ￿Jon￿re Iho
a￿kOPid￿cto*￿d h>qn8ur*thbydonrtpetqOn￿￿ bWilf¢om oed$lr•lS. of persanHliThteiest
beqn In bDknC4PQCikn¢8 endwe for pubk5Dvction.
￿L￿nI 203+25 Ihe cMity madsErfaDL4 ￿d(On￿b￿￿OdCo￿ of£2,•JD,066 I￿2￿24. £a450,1*1 Dda WV8tEtyHaa￿ 8o&rd.
Asal 31 Marth 2025 lheiow￿d by the Ch**ywas£431.$421202&24. £338.￿41￿rI ¢hBritywuStnil1202>24.. £9.WI.
ThllrqvKrtno Int•i•itsiTh >)2425.
Totsi
201428
Incorn•
fundB
£000
Eno￿￿rn•￿t
fund•
EOOO
EOOO
Dorl*liOhl
L•oad
Oranls
OthqrTi•dknq
673
7S4
725
1.423

4. Ro19 of volunto0r8
HwhEI Dda ￿ealth Charitles Is fortunate to have thè support of so m8ny wonderful peoplè who glv8 Ihelr
limè. ènergy And dedication lo raise funds for Ihe Ch8rity on 8 vDluDlary basis yéar 8ft8r year. Qur supportgrs
fundraise for us lor many dTFfereni fya$on6. Many aTr form8r patsents and their fsmilies wanling to show thelr
8ppreci8iion for care received, whik manywish lo support the developmènt of Ihe lalesl hea￿MCare technologie5 in
their local comffjunily.
We are also exlreTnely fortun818 lo h8¥e 8UPPOrt of League of Friend5 gTOUPS who rnlse rnoMy for our
hospllals and heatthcare In Iheir local communilEs In addition to our hospiial gnd cornmunity Lea9ue of Frknd$,
we have many local voluntary groups whD SUPPOrt and adively fundraise for Iheir local he81lhc8￿ seNlces.
In gccordance vAlh the SORP, due io Iha abs8nce of any rellable mea5uiemenl basls, the conlrfbuuon of these
volunlaer818 not recognlsed In the accounts.
6. GroB8 Investment InGom•
Rthrytrfct•d
Total
Income Endovmignt 202*20
fund¥
Fund¥
£000
£000
Totsl
2023-24
Unr08trlcted
lundB
£000
£000
£000
Fix•d $￿tt equity and 81mllar 5nv88lrr*nt8
287
216
87
870
451
287
216
67
570
451
6, An8ty•l8 01 oxp8ndlturo on val•lng lund8
Totql
Incorn• Enrfowmont 2024-26
lundi
Fund8
£000
£000
Tolal
2023-24
Unrg8trlct8d
lund•
£000
£000
£000
Fundral8lng ¢o$l$
Inveslrnenl managemtrnl
182
283
298
162
283
296
7. Anatyall of charltablo ilctlvlty
Grant lunded 8uppDrt
COSti
£000
Total
Total
202425 202>24
fooo
£000
£000
Purchase of medical and surgitAI equipment
Purcha8e ot offlce an¢J CDmpuier eavlpmeni
Buikjiny and r8furblshmenl
Staff Educallon and welfare
Patient edutAllon and ￿Kara
Other
1.960
83
145
64
148
218
2,178
70
826
94
1.518
203
16
71
1e4
16
66
2,382
204
2,646
8. Analyols tsf grnnts
All grant8 are made lo the Health Board lo wovide for the care of NHS paI￿nIS in fUrth¥an￿ of (xjr ¢h8rit8ble
aim&. The lolal cost of making gran18, indudiThJ support costs, is disclosed on the f8ce of the Slaletnent of
Finsncl&l Actlwlies Ihe aclual futyjs spent on each calegory of charilabk aclivity. is disdD5ed In note 7.
The Tru$ie¢ orerates a sChery￿ of d8legatlon lorthe malorbty of the charliable furK1s, under whlch fund managers
manage the day to d4y disbutsemenis on their dèlegated funds In accordance wlh dlreclions sel out In Ihe
HÈatth BDard'$ stdndlng orders and slandiTrJ finan￿31 Instructions. Fmds martaged under the scheme of
delegation represent ongoing activthes And11 is not potssiNe lo segment Ihese achvil￿5 Into di6crele Indlvldu81
grant awards. The Trustee make5 indimdual grant awardÈ based on Invited appllcalion5 from the Health Board.
P4¢38

9. Movements In lunding ¢ommltm&nts
Total
Current Non Current 2024-25
l￿bIlItIeS
Total
2023-24
£000
£000
£000
O￿nIng balance at 1 April Isee note 161
Movament In liabilitles
2,826
13261
242
1831
3,068
14091
1,863
1,205
CIo8lng balanc8 at 31 MarGh Is89 not9 161
2.500
169
2,6S9
3,068
As described in note 8. Ihe Charily awards a number ol grants in the year. Many grants are
arded and paid trut In th& same financial year. Howewer, sorne gran15, especially thos& ielaling
lo ie$oarch and davalopmenl orfor fundlng 8p8clfic pogt$ aro mulll.yéAr grants pabj over a longer
peilDd.
10. Allocatlon of 8LlPPOrt Costs
Support ènd overhead cosls are allocBlad bolween lundrai5ing a¢tlvttlg6 and charilable activilyas.
Governance ¢o$t• •r8 Ih088 8upport Costs %thich relalo to Ihe $trolegl¢ managemant ofthe Chartty.
Chafltabl•
Totsl
2024-25
£000
Total
2023-24 Ba•1•
£000
£DOO
Oov•rnanc8 Co•ts
Éxternal audll
FinanGe gnd 8dmlnSslralbn
Total governance
16
66
15 Average fund balance
62 Avarage bolance
77
66
82
Support Cct$t•
Flnance And admlnlslrglbn
182
182
178 Avero9e fun¢ bbl8nc4
264
284
26S
ReBtrtctod Endowrn¢nt
Unr8sthct8d Income
Fund8
lund¥
funda
£000
£000
Total
Total
Funds Fun(Js
2024.25 2023-24
£000
£000
£000
Chadlabkn actIvK￿9
150
114
255
150
114
256
11. Trustee's remun•r•tion, beneffts and ÈxpenJes
The Charity does not make any payments for remungr81ion nor lo reirnburse expenses lo members
of tho Gorpomto Trustee orthe Chadty for theirwork underf8ken a$ Iru$leÈ.
Pye39

11 Audltors Mmunerduon
Tr• audltors romunernwon ore16A021202&24.. £10,128) r•latsd iolfjly lolh8audhollhethluknry rEPDrf and k¢ttsJnts.
13. Flx•d •948t lThvqytm#n
MDwM•nt1￿ flx4d u$•ts Inwts*Nnts
Ll¥t•d Inv•8lmvnt
prapErties
2024-26
£wo
Llstsd
ItNeslmentS
202>24
£CN)O
InvBstyDeDI
prope￿81
202>24
£000
Total
2024-26
£0
rotsl
2023-24
£Doo
2024-26
EQOO
Mark?t v&luÈ brouBhl fotwaid
Add Hddltlons10 Inveslments kico¥t
Le￿ dispo￿15 at r￿tryI￿p vBlue
Incre&selldecreHsel on cash awahing In¥Tr¥tm¢i
Add npt 9Hln l 00s1} re￿1￿&￿0
193
9.124
18e
8.307
1)78
817
M•th•l valu• OD 4131¥tM•rch
8,718
8.931
193
9.124
All Invèltmonli oro 01 tWrNrt4t￿U•. The Inv•8hmeDlV•￿1IknDW1• pfjrtoffrwd by CCL
The 8wJninunc&of financlal knsirulnènis to the finMthI su8tain•bnity ￿ HywrA Oth Heallh ill¢¢nsid•i•d w th• ilk
oflh•tTUkto•'¥$mu•I rg
Tht rnryin Irom Ilnirtrial lnitrum￿￿ In cvrnbinitkjn ofun￿￿1￿ Irv••knèThtm•rk•ts •nd V￿￿¢￿1ty In ¥lebJ.
klywvl Od• Hmllh Chwrtbry•' irpJ1nv&BdwNhln lh• UK ￿1￿c￿V8 ¢OIF ChAillai EthIC￿ Invaitmont Fund. Hkw•l O
He￿th Charltle6 hawj rn mats1￿1 Inwjslmant h￿￿1￿93 in market•?ubject lo 8xch4nga conirrAi Drtradln9 re#th¢ltshi.
Hywol Dda H•allh CMrfUo• manllgeiih••o Inve¥tm•nl by rot41Dkn9 è%Pgrt 4dviwi8 qnd yr4lng IDWStrngnl WWlho1 ywid•sfor#
19h of dNaisrfic4boD of hddingb *éilhin In￿￿tman1 d11￿1.
IhwAbnliltprtsp•rt￿* w•f•vdu*d by th• (M*• Ag•ncy An off*￿1Ve aAt4 of l Apill 2022. Tho Y41wiknn b••D pr•p4Md In
lluordancewllh thv wimjol Llelutssl￿r￿on ofih• Royql ol Chlrterthi Valulllon sthnd*dA.
Flx•d I￿••t Inv•etrn•nt• bytyp•
202MO
£000
202>14
Eooo
Equ
Flxed IDwr•Bt•
C4•h & Nur C••h
071
869
717
664
593
Jg4
815
03
297
p￿partY
Prfyqle Equty &
¢•ntr&ctu•i & oih•r Ineom•
9,124
P4W

14. Analys18 Ot curront debtors
Debtors undor 1 yoat
Total
Totsl
202&25 2023-24
£000
£LNJO
Accrued income
Otherdebto
134
152
138
1S6
15. Anatysl8 of cash and cash frqufvalints
Tolal
Total
2024-25 2023-24
£000
£(M)o
C•8h 81 bank In hand
4,988
6,148
4,986
6,148
The deposlls are sum8 held on Inter•51 be8dng deposit wlh 8arclays Bank 8nd CCLA
ond iepr888nl reslrlcled appe•ls ID fund sp8c1￿C aquipmonl or funds held10 la¢1151$18 cash now and the fU￿rm￿nI of
obligations lo ffjake grani payments. The funds are held in an In&l8nt 8cce88 account and are Iherefora classified a?
cash and ¢8$h equlv816nt8.
No cash or cjsh equivalents or current 8s8el Investments were held In rnrpC88h Inveslmenis or out8k1e of the U
All of the armunls held on Ini•ro¥t beariftg deposits are 8¥8il8ble ID ¥pend on Ch8rlly 8Ctiv-rtieE.
16. Analy•l• of Il•bllltl••
Tot•1
TDI81
202&20 2023-24
£000
£coo
Cr•ditor• f•lllng dvo wlthln 1 yegr
Trade credilor$
Other credllor6
Accruals (Nole 91
65
434
2.500
39
327
2.826
2,999
3,192
Crgdltoys lalllng 1ft0r mor• than 1 y•ar
Awru815 (Note 91
109
242
Tot•1 ¢rodlto
3.158
3.434
P¥6e41

17. R￿0￿clI1*￿<30 tsf nèt In¢om• i•xp•ndthi• tonrfcash fl¢>wfrom
Totsl
202446 202S24
£CN)
£OOD
Nbt Incom•1 lèxpènllftur•l (par Stat•m•ntof
AdjU￿￿￿•￿tIor'.
{Gaknsll￿8￿5 on Investmems
ena5, Intere￿ 8nd rentsfrom 1nVethE￿¥
OecreasE Illnrfeasei in debtors
IDeue88el I in cted¢or$
376
18171
18)
1.492
1278}
Nbt¢a*h lu••d Inllprovlded byOp•r•￿n9
1.732
IB. Tr4Th1f•¢ fund•
Duihg Ihe y6BrlhB ChBttty undertook • revW of IMfundJ held wwh a¥ltwto'.
11 ￿￿ke11 u easyas p0S￿b1¢tO ewoJ$fvnd5 iofurthèrour &)aritabl*obpctvK
21 ED¥V￿thtt olthèluna8 renectlhe cur?n1?erv￿thlln￿9emÈth •iructLYe$ BiwpII 41 th•￿¥h￿s0[0UraOTrJl&
31 Eniuredon4lion¥8Te &"r14wnBbwiimelram•
41 Dqviknp b)W tèrm èxpen4rtUTe
Duih)J Ihi8fovleww• |oDk4d Ft *gIc￿l￿niC￿ haa been 4BrtrktrlLtsd AndlouThd mal In 4 numboi rfu¥v¥the ￿lId￿j n
hyovj q w6t IhEter4rÈ thi1• irfAd•È rebirfc1•d Transf¥r4lu￿IIlnv £2.482.391 hovo bwn madefrom t4
Unrestr￿ed fundi.
Tr￿sta￿ vMr• mwd• lo tho cth11￿￿Iion ollh• Pembtokè4hh ewabicw EqU5pM￿ Irmme F￿0 Ind Re•* Evani
kncom• Fwd.
All￿￿1*r￿£97,2to w41m•l•from endowmnl Fundilv R•￿￿21 Funds1n r•￿8￿ cl lln•p￿bd Wal ¢tb2m •v•l￿b￿ io be openl.
UnF••trfct•d f¢•iirfct•d Endowrn•nt
£000
£oDu
Éooo
2,494
1?,4941
108
T¢¢•1
£000
Tr4Th$l•r￿rnbr0k•1￿￿T￿C￿rdI0￿vÉqUwr4n11￿co￿lWd
Tr¥rthrft••itlryJynE¥Dnf lffEIMwr4Wirdl
11081
S7
2,515
2,49J
1?.An•1y•￿ •f fvnd•
. Analy•l• Qt•nd(wm•ntfu￿d moyim•nts
8A14nc•
IAprf
?024
Tr*n•l¥r
Incom•
Exp1nd￿￿T• (Loss
)1 M•rc
202S
£000
£000
£000
£000
FE Smlm L•9
Rees E￿y￿ EvBffl
QGH AC¢Adenl & Emerwncy IC•pK•l Prytpetyiyi
P•m￿KO¥h1rtc￿￿lQlffjY Equipment
PemtrKoktthlr47C•rdlalugy Equipmènt Inwm• Fund
74
21
42
2,J28
72
42
2,232
19n
101
2,38
The obleds DIthB èndtyémentfvndB or•ai lollm"
- FE Smlh Leqacy Fund oblqcis &rJ 10 applythe inccthe generaledkntrg pIm￿n•￿t gifl lorltro bqnelltof Iho Gtyrth ￿rd
Ls nowlh¢ ¢Erediq In 8ronghlg Ggnerydl H05pito1.
- Rge8 ElpNyn Evqns Fund Obieth aMtOAP￿yl￿Q InWmgener4wdfft)mih• piM￿nen1 enJtr*ed gvltrthe ¢hequlpm￿tfÈ￿MeUr￿
Ward In 8rw91•i¥ Gtner81 Huspilbl
- GGH Act￿1￿nI% Enw8nEyICa￿* In pwpa￿rtY1 Fund obl¢d$ greioapwyth•inwm$ (•r￿ted from glftforlhe benein
of￿8 Gl¥g*I11 GBn8ral HDspital Acddent ¥nd emwgen¢y dtpartm#nl
- PEmtrokeshlre CwdEobuy É4UlPtnenl In(thnE Funtt OOject8are lorth$ purch¥¥q Of c4rdithgy ewlwiert h th?￿nty oip#morc*•9hlie

b. Analys18 of restricted luno movomonts
BalanGo
1 April
2024
£000
Balance
Expenditure IL0551 31 March
2025
£0
Transfer
Income
£000
£000
£000
£000
Hywel Dd8 General Funds
CarmarthenshlrÈ Locality Funds
Ceredigion Lucality Funds
Pèmbrokètshire Lo&qlity Fund8
57
3.454
1.345
325
1601
11,8231
12471
1471
29
290
521
242
11.5071
17841
1471
243
218
21
1771
5,181
12,
514
77
1.082
Th& lotallty funds are a collection of re5triGted funds wh￿h have distinct restrictions imp088d on th? Ch8rfty. There are 7
Hywel Dda wlde r881rlcled funds. In Carrnarthtrnshlre locality there were 49 reSt￿(ted funds durlng the year, whSGh h4$
redu￿￿ to 26 followlng tho funds restructure. In C8redlglon th8re w8re 27 r85tricted fvnds durlng th8 year, which has
reduced to 10 following tho lund8 r981ructure. In Pembrokeshire thera were 33 restricted funds durlno the year whlch ha5
r8ducad to 19 following th& funds r88lructure.
c. Anily$lA ot unre8trlcted and rnatorlal dwlgnatsd fund mov8m8r
Balance
1 Apfll
2024
£000
Balanco
Exp•ndlture ILo••l 31 March
2026
£000
Tr•n•lgr
Income
£000
£000
£000
£000
Hyw¢l Dd8 G8ner81 Fr•a Fundi
Hywel Dda Designated Fund$
C8frn8rthenshire Locality FundB
Ceredigion LocAlfty Fund$
Pembrokèshlre Loc£lty Funds
1,210
330
33
619
13091
11571
1,108
772
3,170
1.595
e21
622
1,005
1.834
572
488
12881
1721
1661
78
4,238
2,493
752
157
1,444 7,266
M￿t vnre8trlct8d funds have been earynarked 8nd design8t8d for a 5peGlflt purpo8¢ wllhln tha Ch8rKy area.
For pres&n181ion th8 designstiony have been oroupod and reported per locality.
wrthln the ¢horty there Bre 29 Hywel Dda wide dosignated funds and 2 Hywel Oda General frae reserv88 funds. Th6
ware 89 Carmarthen$hlre desigrtaled funds during the year which ha$ reduced lo 55 after the fuDd$ restructure Ther8
wera 44 Cerèdwion designated funds durlng the year which ha$ réduced to 23 after the funds r0$1nJ¢ture Th8r& were 36
Pembrokeshire design81È6 fvnd8 dudng the y¢aF which has redu¢ed to 23 8fter th8 funds restruGture
PaEe43

20. Total rBtsm aTr I￿v￿￿kn￿t
On 4 March 2014, lh8 co￿rat& TiuBtEO msde 4 (eaoiubon undersecloD 104AI2) lll ChBiibES Act2011 to Jdop14 total reknm on
IDvg$fvnEllt 5pprouch to the Pembrokeshlr• Cardiology EgUl￿entIVnd Bntt the FE Smith Leg4Cyfu￿. Th&¢￿rat* TTus109 Idéntfied th
vèluè ollhègth ol p•rmangntendowMent tÈcdved Since tho fund w9$ eslabllshBd to thatdite. Thls setlbe bas81￿￿ valu8 ttubegrft
EamponEntof endo4¥rnenl to which any Bubsaqu@nt gifiA of endowmeni are add•d. The differEnEe bEiwEen thé iotal of 8Ddowrnertfun¢s
Bt JI March 2015 and the valueul thE cumponent rtwaEented the rycnina bglyncÈ ol tow return.
Th? rth¥•rof total rgtutn ￿rMit5 the Cotwr4te Tmstèe w Invest yrmanEDdy Èndowèofunds to rn&mlse knt41 iElum Ond to wlyan
Ippropriats oflha uThapFl￿d total retuin * ifico￿¢ eath y&ai.
thB PDwar114xerds¢d to tran&lera Porti￿ of unappliBd tota neom*, the unapp1￿￿ toL4 re￿rn rem&ns lThesiod Purt of Ihe
pèrmanent eThJowm•nl. Thg ￿Wer 1114w¥ the TruStÈè to deC￿e kn each yeji how rnuth pf th? iotsl mturn istraDsfeTltrJ t¢ Income
fwd$ 50 pyaWÈbl2 for èxpendrture. DuiiryJ the￿￿r]he Croornta Trustee•rawfved to p8g8£67.267 otthe un•pplled told to
funds to be sp￿1
Trust for Unappll
TotAI
Inv•stmènt total r•turn •ndo¥nnllnt
£000
tooo
£OCp)
At b￿l￿nIn0 olth• rnporung p•rfod
cdmpoThènt41 tho peimanenlendTh¥menl
UnBppiiÈd rebJrn
Yvt41
Movèmint* In th• r•portlng p•rtDd
InvèitmnirabJrn.' dl¥idend$ and In*roit
In￿￿t￿ni(•bJrn'. ioallfjod Hnd uni•4lkn•d
1.505
Re•t•i•d
899
899
899
1,605
Lg11 Inv98tmfrnl mhag•mintcoits
N•t rnov•rn•nt In tho r•portln9 p•rlod
Unapplieo total reium 4llaÈbttd tts In
th• peijOO
N•trnav•rn•nt In thB r•p￿￿n9 perlDd
lJ21
At•Thd of th• r•portlng per￿d
(4rft Compongnivft￿ p•1m4￿nI￿TrdthmenI
Un•pplled total reiwn
Totsl
1.50
79è
7B9
798
2,304
Nol•. The Ree8 Elrwyn andLrt¥mèntind GGH A¢chYonl & EmTo•nty ICApIIAI In Perpgluftyl •ndtywM•ntawi no¢
lomi p4n Rètum on Inv•4tm•nt C4cU￿tIon Abov•
21. p￿t6&1￿nE• Bhq•t Ev•nl*
Thyr•4r• Poll Balanc4 Sh••l Event•
P*tr44

STATEMENT OF TRUSTEE'S RESPONSIBILITIES
IN RESPECT OF THE ACCOUNTS
The law applicable lo charrties In E￿land ar￿ W81e5 requires the tru8teel81 to prepare fin8n¢ial statem8nts for
each financial year whlch glva a true and fairmew of thè charity's financial actiwties duriry the year and of its
financial position at the end of the y8ar. In preparing financial 8talementS giving a true and fair view. the
Corporate Tnjstee Should follow best practi￿ gnd.
• select suitsble accounting policip5 and then apply thEm conslslentty.,
mak&iud9ements and e51imate$ that are reasonable and prudent.,
' state whether applicsblo a¢¢ounting Standards and statsments of recommended practice h8ve been followed.
subj&ct to any departure$ disclosed and expl?ined in the financial stat8m*nls', and
prepare the financial 8ta18ment5 on the going concern ba518 unless It Is Inappropriate to presume that th8
charty will continue in operation.
Tho Ccryorate Tru5teo 15 Trsponsible for keeping aceountlng re(x)rd8 which dl$close wlth re880n8bLe acLuraGy
financial p08ilion of tha charity and which enable them to astertain th8 financial position of the charity and
enable them lo trn$ure thal the financial 5taternenls comply with th8 Charitles Act 2022, th8 Charity (A￿oUnts
and Reports) Rogulations and the provisions of th8 Irusl deed. The Corpor8te Trustee 15 rpsponsible for
8afeguardinG the assets of th8 Gharlty and hence for taking reasDnabl& stsp8 for the prèvention and detection
of fraud 8nd other Irrègulgdtles.
y order ot th• tru•tso•
Slgn•d,.
Vlce£halr olthf
oipor•te Tru8tO
elèanor Ma￿9
01 Tru•t•• RePr￿+n￿tly•
Huw Thoma•
PW45

The independent auditor's report of the Auditor Goneral for Wales to th•
trustees of Hywel Dda Hèalth Charltlès
Opinlon on flnanclal statements
I have audited the financial sl8lemenls ol Hywel Dda Health Charities for the year ended 31 March
2025 under the Charities Act 2011.
The financSal slalements comprise the Staterllenl of Financlal Acllvllle8, tho Balance Shaat, th8
Statement of Cash Flows and related not8s. including the material accounting polici8S.
The financial reporting framework that has been applied in their preparation is appllcable law and
United Kingdom Accountlng Standards. including Financial Reporting Slandard 102 The Flnanclal
Reporting Standard applicable in the UK and Republ1¢ of Ireland Iuniled Kingdom Generally
Accepled Accounting PraGticel.
In my opinion the financial statements..
giv8 a tru8 and faiT view of the $18le of 8ffair$ ol the charty as at 31 March 2025 and of
Incoming rasources and application of resources for the year then 8nded.'
have been properly prgpared in aC￿rdanCe wllh Unbt8d Kingdom Generally Accgpled A￿OUntIng
Practice.. and
hav8 been prepared in accordance with the Charlll88 Act 2011.
Basls for oplnlon
l ¢tsnduded my audit In Bccordanca wlth 8ppllcable law and Inlemation81 Standards on Audlllng in the
UK (ISA5 IUKII and Pr8dc8 Nole 10 'Audll of financial stal8m8nls and regularity ol public $8¢ttsr
bodies in the United Klngdorn,. My rgSPOll5ibililies LJnd8r those standards are further descrbbed in the
auditorfs responslbllltles for the audlt of Ihe15n8ncl81 glatemen18 sec￿On of my report.
My staff and l are indèpandenl of th6 charfty in accordan¢g wllh the glhical requlremenls that are
relevant to my audll of the flnandal st8lern8nls In the UK Includlng the Flnanckal Raportlng Councll'8
Ethical Standard, and I hav8 fulfilled my other ethical responsibilities in accordance with these
requirements. I beli8v8 that the audit gvid8nco I have obtained ly suffKlenl and 8pproprfale to provide
bas18 for my oplnlon.
Concluslons relating to golng Concern
In auditin9 the financial statement6, I have Concluded that the usè of the golng rK*noern ba858 01
8ccountlng In the preparation of the financlal slalemenl8 18 3ppropri81e.
Based on Ihe work I have performed, I have not idenlrfied any material uncertainties relating lo events
or condlllons that, indlvldually or collectively, may c881 stranificanl doubl on the brxly's ability to
continue to 8dopl the going ¢on¢¢rn basi$ of accounting for a period of al lea81 twelve months from
when the finandal slalemenl3 are aulhorlsed for Issue.
My responsibilities and the responslbllltles ol tha trustees wlth respect lo golng concern are descrSbed
In the relevant sections of this ieport.
Other Informallon
The olh8r InfomiatMJn compris95 the information included In the annual report olh¢r than Ihe financial
statsments and my auditor's rgport thereon. Th9 Irusl8es are responsible for the other Inform8Jon
contained within the annual ieport. My opinion on th8 financial statements does not cover the other
information and, except lo the extent otherwise expllcilly slated In my report, I do not express any
fomi of assurance conclusion thereon. My re8pon8ibllily Is lo re8d the other informalion and, in doing
so, consldar wh8thèr th8 Other informabon is materialty inconsislenl with the financial statoments or
knowledge obtained in thg course of thg audit, or otherwise appears lo be rnaleiially misstsled. If I
identify such m8lerial incons13lencies or apparent material misstaternents, l am required lo delennine
whether this gives rise to a material misstslement in the financlal $18lements themselves. If, based on
the work I have performed. I conclude that there is a material misstslemenl of this other information, I
arn iequi18d lo raport Ihat fact.

I h8ve nothing to report In this rogard.
Matters on whlch I rèport by exceptlon
I have nothing lo report In respect of the following matters In Telalion to which the Charilles IA¢counl$
and Reports) Regulations 2008 require me to report to you rf. in my opinbn..
I have nol rècÈivad all of the information and 8xp13nations I r8quir8 for my audil.,
sufficient 8ccounllng records havo not been kgpl, or relums adgquale for my audit hava not been
received frorn branches not visited by my team-,
the finandal Slatgmgnls are not In agrgemgnl with the accountin9 records and returns., or
the inlormallon given In the llnancLg18lalemenls Is InconsSslenl in any material r&spe¢t with the
trusteos. reporL
Responsibilities of the trustees for the flnanclal ststemènts
As èxplBin8d mor@ fully in tho statement of InJsle&'s responsibilities, the Iruslees are responsible for..
malntalnin9 sufficignl a¢￿untIng records.,
the preparallon ol the financial statements in accordan¢tt whh the appllcable flnanclal reportlng
framework and lor b&ing $ali$fi&d that Ihey give a Irue and fair viaw.,
Intern81 controls as the Iruslees determin& is necèssary lo enabl8 the prgparalSon of ffinancSal
statements to be free from malerial misstalemenl. whether due lo fraud or error.,
888essln9 the ch8flty'8 ablllty lo conJnue a8 a golbYJ concern, dlscloslng. as appllcable. matters
related lo going concern and uslng Ihe going concern basls of accounting unless the trusle8S
anllclpalg th81 th9 serv￿$ providgd by th& ¢harSly will not continu8 lo b8 pro￿dad In th8 future.
Audltor's rogponglbllltles lor the audlt of the flnanclal statements
I have been appointed as auditor under section 150 of the Charities Act 2011 and report in a¢cordan¢e
wllh regulatlons made under sedion 154 of that A¢t.
My objectives are lo obtain rèasonable 8ssuranc8 about whether the flnancial slalemenls as a whole
are free from m81erlal misstolemenl. whether tjue lo fraud or error. 8nd lo Issue an gudS10rfs report
that includes my oplnion. Reasonable assurance Is a high1gvg1 ol assuranca bul Is not a guafantao
that an audit conducted in accordance with ISAS IUKI will ahY8y8 delecl 8 malerlal mlsslalemenl
when il exists. Misslalements can arise from fraud or error and are consldered material il, Indlvillually
or In th8 aggregate, they could reasonably b8 expectsd to Influence the economic decision5 of users
tsken on the basls of these financlal stslemgnls.
IrregularKies, Includlng fraud, a￿ Inslaneeg of non-compllance with laws and regulations. I dgsign
proc6dures Sn line with my re8pon8ibS1ili86. oulllned 8bove, lo deleci malerlal mSsslalemenls In resp9¢1
of Irregularit￿$, Including fraud.
My procedures included the following-,
Enquiring of management, the Head of Intern81 Audll and those ¢h8rg8d with governance.
Including obtaining and revlewing suppothng documentation re1811ng lo Hywel Dd8 Health
Charities policAes and procedures CDncemed with..
Idenbfylng, evaluating and complylng with laws and regulations and whelhgr they were aware
of any instances of non-¢ompli8nce',
deleding and responding lo the risks of fraud and whether they have knowledge of any
actual, suspected or alleged fraud,. and
the internal controls eBtablished to mits'gate risks related lo fraud or non-compli8nce with laws
and regulations.

Considering as an audit team how and where fraud might oocur in the financial statements and
any pot8ntial indicators of fraud. As part of this discussion, l identified potenlial for fraud in the
posting ol unusual journals.,
Obtaining an underslanding ol Hywel Dda Heatth Charities framework of authority as wdl as other
le9al and regulatory frameworks that the Hywel Dda Health Charities operates in, focusing on
those laws and rggu18tions that had a direct effect on the finanual slalements orthal had a
fund8mental effect on the operation8 Of Hywel Dda Heatth Ch8rllles.
Obtsining an undgrslan¢Jing of related paty relationships.
In addition lo the above, rny procedures to respond lo identified risks included the following..
reviewong the finandal slatefflent disclosures and testing lo supportlng documentslion lo assess
compliance with relevant laws and regulations discussed above;
enquiring of manauemenl. the Charitable Funds Committee and ￿gaI advlsors aboth actu81 and
polenllal lftigation and clalms..
reading minut8s of mèètings of thos• chargèd wlth govornance and th6 trusl88S,'
in addressing the risk ol fraud through managernenl override of controls, lesling the
appropriateness of journal entries and other adjuslrnents.. assessing whether the judgements
madg in making accounting eslimales are indicative of 8 Potgnlial bias., and evaluating the
buslness ralbonale of any slgnlllcant tran8acllons that are unusual or oul8Sde the nomial course of
buslnes5.
l also communicated relevant identified laws and regulations and polanlial fr8ud rf6ks to all audit team
embers and remained alert lo any Ind￿alKIn$ of fraud OT non-compliance with laws and regulations
throughout the audit.
The gxlont to whl¢h my procedure$ aro capoble of deleollng Irregularities. Indudlng fraud, is affected
by the Inherent dlfficully In delectlng Irrggularflies. Ihfj e￿CtIv&n8sS of Hyw81 Dda Haatth CharflSos
controls, 8ntJ the n8lur&, Ilmlng and extent of the au(Jll procedures performed.
A further descdptlon of the audllorfs responslbllitles for the audot of the ftnancl81 ststements Is l¢xatsd
on the Financial Reporting Council'$ websrte www.frc.o
.uklauditorsres
onsibilities. This description
forms part of my audlior'8 report.
Other audltor'8 responslbllltlos
I cornmunicale with those charged with governanc6 règardlng, among other matters, th8 planned scope
and liming of the audit and slgnificanl audit hndings, Including any slgnificant deficiencies In intem81
Control that l identify during my aud￿,
Adri8n Cromplon
Audllor General for Wales
30 January 2026
1 Capi181 Quarter
Tyndall Street
Cardiff
CF10 48Z