Age Cymru Dyfed
Charity number 1155813
Annual Report and Financial Statements for the year ended 31 March 2025
Age Cymru Dyfed
Annual Report and Financial Statements for the year ended 31 March 2025
| Contents | Page |
|---|---|
| Trustees' report | 2 to 6 |
| Statement of trustees' responsibilities | 7 |
| Auditor's report | 8 to 10 |
| Statement of financial activities | 11 |
| Balance sheet | 12 |
| Cash Flow statement | 13 |
| Notes to the accounts | 14 to 25 |
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Age Cymru Dyfed
Trustees' report for the year ended 31 March 2025
Reference and administrative details of the charity, its trustees and advisors
The trustees during the financial year and up to and including the date the report was approved were: Name Position Dates Peter Hamilton Chair Peter Loughran Caroline Streek Vanessa Rawsthorne Vice Chair/Treasurer Natalie Moyce Appointed 25 April 2024 Tegwen Devichand Appointed 5 November 2024 Vanessa Lewis-Camacho Appointed 13 February 2025 Allan Williams Deceased 1 October 2025
Appointed 25 April 2024 Appointed 5 November 2024 Appointed 13 February 2025 Deceased 1 October 2025
Chief Executive Officer
Simon Wright
Charity number 1155813 Registered and principal address Bankers 27 Pier Street CAF Bank Aberystwyth 25 Kings Hill Avenue Ceredigion Kings Hill SY23 2LN West Malling Kent ME19 4JQ
Registered in England and Wales
Auditor
D.R.E.& Co. (Audit) Limited 7 Lower Brook Street Oswestry Shropshire SY11 2HG
Structure, governance and management
The charity is a Charitable Incorporated Organisation (CIO) registered on 17 February 2014 as Age Cymru Ceredigion and is governed by a CIO Association constitution. The constitution was amended in January 2020, and in April 2020 it changed its name to Age Cymru Dyfed, from which date the amended constitution became effective. The charity's activities are now undertaken throughout the counties of Carmarthenshire, Ceredigion and Pembrokeshire. At 1 April 2020, the activities, assets and liabilities of Age Cymru Sir Gar (former charity no.1106321) were transferred to Age Cymru Dyfed.
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Age Cymru Dyfed
Trustees' report for the year ended 31 March 2025
Structure, governance and management (continued)
Organisational structure
Age Cymru Dyfed (ACD) is governed by its trustee board which is responsible for setting the strategic direction of the charity and for monitoring and scrutinising its progress and performance against agreed objectives as set out in its business plan, The trustees carry the ultimate responsibility for the conduct of ACD and for ensuring that it satisfies its legal and contractual obligations. Trustees normally meet quarterly and delegate the day-to-day operation of the charity to the Chief Executive Officer (CEO) and an Executive Leadership Team (ELT) comprising the CEO, Deputy CEO, Head of Operations and Head of Project Delivery. The trustee board is independent from management.
A group of trustees elected by the trustee board form a Finance and Scrutiny Committee (F&SC), which meets as required between each board meeting. Proposals to the F&SC are approved by the ELT prior to consideration. The F&SC is accountable to the trustee board, and reports back recommendations for consideration, although it is empowered to take decisions as delegated by the trustee board. It also has delegated power to take decisions on all matters pertaining to the effective control and management of finance systems
Recruitment and appointment of trustees
The trustees of the charity are appointed for three year terms by the trustee board, They are elected from the local community by the existing trustees, following a formal application process and interviews with the Chair of trustees, and the CEO in an advisory capacity.
Induction of trustees
Newly appointed trustees are provided with a comprehensive induction pack, attend meetings with the Chair and senior staff, and have access to Age Cymru and Age UK online services and information. Where appropriate, they are encouraged to attend national meetings and conferences, and to partake in training opportunities.
Related Parties
ACD is a member and brand partner of the Age UK and Age Cymru networks, which provide support and impartial advice to older people. The charity has to meet several quality and performance standards with Age UK and other external bodies, and is subject to rigorous monitoring against these standards. Operating policies are independently determined by the ACD trustee board in order to fulfil its charitable objects and to comply with national membership requirements.
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Age Cymru Dyfed
Trustees' report (continued) for the year ended 31 March 2025
Objectives and activities
The charity's objects
The objects of the CIO are:
To promote the health and well-being, primarily of older people, in any manner which now is or hereafter shall be deemed by law to be charitable in and around west Wales (the counties of Carmarthenshire, Ceredigion and Pembrokeshire).
The charity's main activities
The charity provides projects and services for older people, their families and carers.
Public benefit statement
In setting its objectives and planning its activities, the board of trustees have given serious consideration to the Charity Commission’s general guidance on public benefit and in particular ensure that the activities undertaken are in line with the prevailing charitable objects and aims under which the charity was established.
Achievements and performance
The 2024/2025 period has been one of continued growth for the charity, marked by the securing of longer-term contracts that strengthen organisational stability and provide confidence and reassurance to staff.
Age Cymru Dyfed successfully secured a tender through the Hywel Dda Health Board to deliver the West Wales Dementia Connector Service which is a significant award and will be ACD’s biggest individual service. Additionally, Welsh Government funding to deliver Bereavement Support Services in partnership with Age Cymru Powys, will be commencing in April 2025.
In addition, and in partnership with Dolen Teifi Community Transport, ACD has been notified of a successful bid and secured almost £1 million to deliver a community transport service for people living with disabilities across Carmarthenshire, with delivery anticipated to begin in June 2025.
Commitment to Quality
Our commitment to delivering high-quality services has been reaffirmed through the achievement of the Armed Forces Covenant Fund – Employer Recognition Scheme Gold Award.
Principal Activities During the Year
Information and Advice (I&A) Services
Ceredigion
The Ceredigion Housing Support Grant–funded dementia pilot was commissioned as a full service to commence in April 2025, following the award of a four-year contract in January 2025. A tender for the Older Persons Service in Ceredigion was submitted during this period, and we are currently awaiting the outcome.
Pembrokeshire
Small Grant funding for I&A services continued at previous levels. Commissioners confirmed that the service will be extended until September 2025, after which it is intended to be amalgamated with the Housing Support Grant to form a single Older Persons Service for Pembrokeshire. ACD’s Housing Support Grant pilot has also been extended through to September 25.
Carmarthenshire
Connecting Carmarthenshire: The County Council’s Preventative Service for older people and adults with physical disabilities delivered another successful year. The end-of-year report received positive feedback from commissioners.
Shell-Funded Benefits Checks: Over 500 benefit-check sessions were completed, marking another successful year of delivery.
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Age Cymru Dyfed
Trustees' report (continued) for the year ended 31 March 2025
Achievements and performance (continued)
Befriending: Life Links
The service continued to meet all milestones set by the Welsh Government. Following a further extension, the service is now expected to run until March 2026.
Veterans Services
Support for older veterans continued to expand, with additional Transformation Grant funding secured to develop a UK-wide e-learning platform for statutory and third sector organisations. The award of the Armed Forces Covenant Fund – Employer Recognition Scheme (Gold) represents a significant achievement for Age Cymru Dyfed.
Digital Services
Age Cymru Dyfed’s reputation for digital innovation has continued to grow. Funding from the Moondance Foundation will support digital inclusion activity across all three counties, commencing in January 2025 for a 12month period.
Mental Health Services
Social Inclusion Service
Funded by Hywel Dda University Health Board, the service met all required milestones and supported over 200 people living with mental ill health. Its success has enabled the increased use of direct payments to support ongoing care, aligning with Health Board priorities.
West Wales Regional Dementia Connector Service
The successful launch of our largest funded service to date led to the recruitment of a skilled delivery team. A growing partnership with the Health Board is supporting key workstreams in the development of the regional Dementia Strategy and Pathway.
Byw Adref
Following a financial review and the implementation of an increased hourly rate, the service continued to support Ceredigion residents with help around the home. Regular fee reviews have ensured the service remains financially sustainable and contributes equitably to organisational overheads.
Advocacy
Age Cymru Dyfed continues to work collaboratively with partners to deliver advocacy services in Ceredigion. During the year, our advocate commenced training for a professional qualification, supporting continuity of delivery for the duration of the contract.
Plans for future periods
As Age Cymru Dyfed moves forward, our strategic priority will be the effective delivery and integration of new projects, ensuring full achievement of all required service level agreements while consistently delivering demonstrable impact for the clients we support. Alongside this, ACD will take a disciplined approach to financial sustainability, with a clear focus on cost efficiency and ensuring that core organisational costs are met through project funding, safeguarding our reserves for future resilience.
The year ahead represents a phase of consolidation and strengthening. With several new funding streams becoming embedded across the organisation, ACD will invest in developing the underpinning infrastructure, systems, and capacity needed to support our people and enable high-quality delivery for the communities we serve.
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Age Cymru Dyfed
Trustees' report (continued) for the year ended 31 March 2025
Financial review
The overall net surplus for the year was £207,932, including a net deficit of £16,644 on unrestricted funds and a net surplus of £224,576 on restricted funds after transfers.
Overall income increased by more than 40% in the year, while expenditure rose by 27%. There was a further deficit however on unrestricted funds, although this was substantially less than in the previous year following continued efforts to ensure that a greater proportion of administrative and overhead costs are recovered against project activities.
At 31 March 2025, total reserves were £1,027,408, of which £429,114 represented balances on restricted funds (31 March 2024: £819,476 total with £204,538 restricted).
The Finance & Scrutiny Committee deals with the detail of proposals which have a significant financial impact on the charity.
Reserves policy
The charity's free reserves, excluding fixed assets, at the year end were £571,969.
Trustees agreed to hold an amount of ‘working capital’ to smooth out the way by which we receive grant funding, much of which is quarterly in arrears, and that this should be in the range of between three and six months’ operating expenditure, which would give a base figure of between around £551K and £1.102m based on budgeted expenditure, At 31 March 2025, the value of free reserves (including designated reserves) was £598,936 which is around 3.2 months' operating costs. Closure costs (particularly potential redundancy costs and lease commitments) are now treated explicitly as a part of free reserves, as the trustees are satisfied that the charity will continue to operate as a going concern for the foreseeable future. The element within designated reserves in respect of these costs (£174K) was released back to free reserves during the year, Moreover, they will continue to consider designating further sums from free reserves to enable the short-term funding of services whilst alternative grant or contract funding is being sought, with the proviso that free reserves should not fall below three months' operating expenditure.
Designated reserves at the year end comprised:
(a) to enable service development opportunities identified within the strategic business plan to be funded, with the aims of diversifying the number of income streams and funders, enhancing services in the community, and spreading the organisation’s risks across more projects.
(b) to support the charity's marketing strategy by funding a marketing manager and associated costs.
(c) to ensure that there continues to be sufficient funding to retain the charity's veteran's coordinator, supplementing partial finding from other grant sources.
Investment policy
As a substantially larger amount of the charity's assets was being held in the main bank current account, trustees recognised this as a continuing risk, given the limit of £85K per financial institution under the Financial Services Compensation Scheme. They agreed to diversify bank holdings to mitigate this risk, whilst also generating some additional investment income for the charity, through the CAF Bank investment platform managed by Flagstone Investment Management Ltd. This continues to generate additional net income whilst spreading the risk across a number of institutions.
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Age Cymru Dyfed
Trustees' report (continued) for the year ended 31 March 2025
Statement of trustees' responsibilities
The trustees are responsible for preparing the Trustees report and the financial statements in accordance with the applicable law and UK Accounting Standards.
Charity law requires the trustees to prepare financial accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for the year. In preparing these financial statements, the trustees are required to:
select suitable accounting policies and apply them consistently;
observe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent;
state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the accounts on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial accounts comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (Charities SORP (FRS102)).and with the Charities Act 2011.
Signed on behalf of the board of trustees on 23 January 2026
Name::Peter Hamilton (Trustee)
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Age Cymru Dyfed
Report of the Independent Auditors to the Trustees of Age Cymru Dyfed
Opinion
We have audited the financial statements of Age Cymru Dyfed (the 'charity') for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the charity's affairs as at 31 March 2025 and of its incoming resources and application of resources, for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and - have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for Opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to Going Concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
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Age Cymru Dyfed
Report of the Independent Auditors to the Trustees of Age Cymru Dyfed
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
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the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records and returns; or
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we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
Our responsibilities for the audit of the financial statements
We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
-the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; -we identified the laws and regulations applicable to the charity through discussions with management, and from our knowledge and experience of the charity sector;
-we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charity, including relevant legislation such as the Charities Act 2011, taxation legislation, employment, environmental and health and safety legislation;
-we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting relevant correspondence
We assessed the susceptibility of the charity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
-making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
-considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
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Age Cymru Dyfed
Report of the Independent Auditors to the Trustees of Age Cymru Dyfed
Our responsibilities for the audit of the financial statements (continued)
To address the risk of fraud through management bias and override of controls, we:
-performed analytical procedures to identify any unusual or unexpected relationships;
-reviewed nominal ledgers and tested journal entries reports to identify unusual transactions;
-assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
-agreeing financial statement disclosures to underlying supporting documentation;
-reading the minutes of meetings of those charged with governance;
-reviewing correspondence with HMRC.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
D.R.E.& Co. (Audit) Limited 7 Lower Brook Street Oswestry Shropshire SY11 2HG
Date: 23 January 2026
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Age Cymru Dyfed Statement of Financial Activities
(including summary income and expenditure account) for the year ended 31 March 2025
| Notes 2025 Unrestricted funds £ Income from: Donations and legacies 20,056 Charitable activities 315,122 Other trading activities 3,917 Investments 27,477 Other 1,183 Total income (2) 367,755 Expenditure on: Raising funds (6) 13,619 Charitable activities (5) 382,021 Total expenditure 395,640 Net income / (expenditure) (27,885) Transfers between funds 11,241 Net movement in funds (16,644) Fund balances brought forward 614,938 Fund balances carried forward (4) 598,294 |
2025 Restricted funds £ 606 1,679,184 - - - 1,679,790 317 1,443,656 1,443,973 235,817 (11,241) 224,576 204,538 429,114 |
2025 Total funds £ 20,662 1,994,306 3,917 27,477 1,183 2,047,545 13,936 1,825,677 1,839,613 207,932 - 207,932 819,476 1,027,408 |
2024 Total funds £ 20,176 1,400,117 6,003 15,714 3,478 1,445,488 13,685 1,429,807 1,443,492 1,996 - 1,996 817,480 819,476 |
|---|---|---|---|
All incoming resources and resources expended derive from continuing activities.
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Age Cymru Dyfed
Balance sheet
| as at 31 March 2025 2025 Unrestricted £ Fixed assets Tangible assets (7) 26,325 Total fixed assets 26,325 Current assets Debtors and prepayments (8) 53,033 Current asset investments (9) - Cash at bank and in hand (10) 609,916 Total current assets 662,949 Current liabilities: amounts falling due within one year Creditors and accruals (11) 90,980 Total current liabilities 90,980 Net current assets / (liabilities) 571,969 Net assets 598,294 Funds Unrestricted funds General unrestricted funds 552,030 Designated funds (13) 46,264 Unrestricted funds 598,294 Restricted funds - Total funds 598,294 |
2025 Restricted £ - - 294,890 - 266,658 561,548 132,434 132,434 429,114 429,114 - - - 429,114 429,114 |
2025 Total £ 26,325 26,325 347,923 - 876,574 1,224,497 223,414 223,414 1,001,083 1,027,408 552,030 46,264 598,294 429,114 1,027,408 |
2024 Total £ 25,352 25,352 387,598 85,000 521,458 994,056 199,932 199,932 794,124 819,476 383,465 231,473 614,938 204,538 819,476 |
|---|---|---|---|
The trustees confirm that:
1.The financial statements have been prepared in accordance with the Charities Act 2011 and the Charities SORP (FRS 102).
2.The charity is a Charitable Incorporated Organisation and is not a company.
3.The financial statements give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources for the year.
The financial statements were approved by the board of trustees on:
Date: 23 January 2026
Name: Peter Hamilton (Trustee)
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Age Cymru Dyfed
Statement of cash flows
for the year ended 31 March 2025
| Cash flows from operating activities: Net cash provided by (used in) operating activities Cash flows from investing activities: Bank interest Purchase of tangible fixed assets (excluding donated assets) Net cash provided by (used in) investing activities Cash flows from financing activities: Repayments on borrowing Cash inflows from new borrowing Net cash provided by (used in) financing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period Adjustments for: Depreciation charges Loss on disposal of fixed assets Bank interest (Increase) / decrease in debtors Increase / (decrease) in creditors Net cash provided by (used in) operating activities Analysis of cash and cash equivalents Notice deposits (less than 30 days) Total cash and cash equivalents Reconciliation of net movement in funds to net cash flow from operating activities Net movement in funds for the reporting period (as per the statement of financial activities) Cash in hand |
2025 £ 255,599 255,599 27,477 (12,960) 14,517 - - - 270,116 606,458 876,574 2025 £ 207,932 11,367 620 (27,477) 39,675 23,482 255,599 2025 £ 304 876,270 876,574 |
2024 £ (13,869) (13,869) 15,714 (8,304) 7,410 - - - (6,459) 612,917 606,458 2024 £ 1,996 8,935 - (15,714) (101,769) 92,683 (13,869) 2024 £ 606,458 - 606,458 |
|---|---|---|
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Age Cymru Dyfed Notes to the accounts
for the year ended 31 March 2025
1 Accounting policies
Basis of accounting
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) and with the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102.
There has been no change to the accounting policies since last year. No changes have been made to the accounts for previous years.
Going concern
The trustees are satisfied that there are no material uncertainties about the charity's ability to continue.
Incoming resources
All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity becomes entitled to the resources, if it is more likely than not that the trustees will receive the resources and the monetary value can be measured with sufficient reliability.
Grants and donations
Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
Where grants are related to performance and specific deliverables, they are accounted for as the charity earns the right to consideration by its performance.
Donated goods for resale are valued at the amount actually realised upon their sale.
Donated assets, facilities or services are valued at their estimated value to the charity. This is the price that the charity estimates it would pay in the open market for equivalent items; or services and facilities of equivalent utility to the charity.
Investment income
Investment Income is recognised in the SOFA when it is receivable and the amount can be measured reliably. Investment income comprises interest, dividends and rental income from investments held by the charity.
Expenditure and liabilities
Expenditure is recognised on an accrual basis as a liability is incurred. Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out the resources and the amount of the obligation can be measured with reasonable certainty.
Taxation
As a charity the organisation benefits from rates relief and is generally exempt from income tax and capital gains tax but not from VAT. The charity is not VAT registered.
Debtors
Debtors are recognised at the settlement amount due after any trade discounts 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 account.
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Age Cymru Dyfed
Notes to the accounts
for the year ended 31 March 2025
1 Accounting policies continued
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Deferred income
Deferred income represents funds received in advance of the charity fulfilling the conditions relating to the income. Income is recognised in the SOFA when the charity is entitled to the income, receipt is probable and the amount can be reliability and any performance- related conditions have been met.
Tangible fixed assets
Tangible fixed assets costing more than £500 are capitalised and included at cost including any incidental expenses of acquisition. Gifted assets are shown at the value to the charity on receipt. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost on a straight line basis over their expected useful economic lives as follows:
Equipment, fixtures and fittings: over 5 years
Improvements to short leasehold premises: in accordance with the lease terms.
Pensions
The charity operates a defined contribution scheme and makes contributions to such schemes for the benefit of its eligible employees. The costs of contributions are recognised in the Statement of Financial Activities in the year they are payable.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Designated funds are unrestricted funds earmarked by the trustees for particular purposes.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
Further explanation of the nature and purpose of each fund is included in the notes to the accounts.
Leases
Rents under operating leases are charged on a straight line basis over the lease term or to an earlier date if the lease can be determined without financial penalty.
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Age Cymru Dyfed
Notes to the accounts continued
for the year ended 31 March 2025
| **2 ** | Income | 2025 | 2025 | 2025 | 2024 |
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | funds | ||
| £ | £ | £ | £ | ||
| Donations and Legacies | |||||
| Donations | 8,966 | 606 | 9,572 | 9,154 | |
| Legacies | 1,490 | - | 1,490 | 1,022 | |
| Grants - general funds | 9,600 | - | 9,600 | 10,000 | |
| Income from charitable activities | |||||
| Adferiad | - | 9,707 | 9,707 | - | |
| Advocacy West Wales | - | 24,878 | 24,878 | 23,316 | |
| Age Cymru | 1,577 | - | 1,577 | 9,465 | |
| Age Cymru West Glamorgan | - | 396 | 396 | - | |
| Age UK | - | 75,349 | 75,349 | 75,400 | |
| Armed Forces Covenant Trust | - | 99,950 | 99,950 | 73,917 | |
| Carmarthenshire County Council | - | 241,816 | 241,816 | 253,340 | |
| Ceredigion County Council | - | 107,045 | 107,045 | 101,059 | |
| Hywel Davies Residuary Trust | 5,000 | - | 5,000 | 5,000 | |
| Hywel Dda University Health Board | 534,810 | 534,810 | 147,382 | ||
| Moondance Foundation | - | 87,860 | 87,860 | - | |
| Older Carers' Wellbeing Fund | 11,983 | - | 11,983 | - | |
| Pembrokeshire County Council | 126,387 | 126,387 | 109,457 | ||
| POBL Group | - | - | - | 6,000 | |
| Santander Foundation | 44,742 | 44,742 | 67,017 | ||
| UK Shared Prosperity Fund | - | 67,244 | 67,244 | - | |
| Veterans Foundation | - | 20,000 | 20,000 | 20,000 | |
| Wales Council for Voluntary Action | - | 27,696 | 27,696 | - | |
| Welsh Government | - | 211,304 | 211,304 | 210,132 | |
| Byw Adref cleaning services | 244,463 | - | 244,463 | 246,820 | |
| Social footcare services | 4,049 | - | 4,049 | 2,710 | |
| Gardening services | - | - | - | 270 | |
| Hosting fees | 7,400 | - | 7,400 | 7,400 | |
| Age UK - benefits & energy checks | 40,650 | - | 40,650 | 41,432 | |
| Income from other trading activities | 3,917 | - | 3,917 | 6,003 | |
| Other income | 1,183 | - | 1,183 | 3,478 | |
| Investment income | 27,477 | - | 27,477 | 15,714 | |
| Total incoming resources | 367,755 | 1,679,790 | 2,047,545 | 1,445,488 |
16
Age Cymru Dyfed
Notes to the accounts continued
for the year ended 31 March 2025
| 3 Staff costs and numbers Gross salaries Social security costs Employment allowance Pensions |
2025 £ 1,298,475 92,559 (5,000) 34,248 1,420,283 |
2024 £ 1,047,920 65,036 (5,000) 22,573 1,130,529 |
|---|---|---|
The average number of employees during the year was 79: management and administration 7; project staff 46; home support workers 26 (2024: 76: management and administration 6; project staff 41; home support workers 29).
There was one employee with emoluments over £70,000, in the banding between £70,000 and £80,000 (2024: one employee over £70,000, in the banding between £70,000 and £80,000).
The key management personnel of the charity include the trustees, Chief Officer and the Heads of Business Development, Operations, and Contracted Services. The total employee benefits of the key management personnel were £197,370 (previous year: £169,452).
| Defined contribution pension scheme | 2025 | 2024 |
|---|---|---|
| £ | £ | |
| Costs of the scheme to the charity for the year | 34,248 | 22,573 |
| Amount of any contributions outstanding at the year end | 4,479 | 3,323 |
17
Age Cymru Dyfed
Notes to the accounts continued
for the year ended 31 March 2025
| 4 Restricted funds Balance b/f £ Adferiad - Advocacy West Wales -3 CIPA 4,042 AFCT - Building Stronger Futures - AFCT - Veterans in View 36,432 Age Cymru West Glamorgan - Age UK - J E George legacy - Age UK - More Money for You - Age UK - tender support - Carms. CC - VR Support 6,339 Carms. CC - Connecting Carms. - Carms. CC - Delta Tablet scheme 6,296 Carms. CC - Dementia Wellbeing - Carms. CC - Digital Inclusion fund - Carms. CC - Housing with Care fund 35,329 Carms. CC - mobilisation grant 3,696 Carms. CC - VR consultation - Ceredigion CC - dementia pilot - Ceredigion CC - VR Support 1,431 Hywel Davies Residuary Trust 4,192 Hywel Dda UHB - Dementia Wellbein - Hywel Dda UHB - Social Inclusion 46,217 Moondance Foundation - Pembs. CC - I&A - Pembs. CC - Older Persons HSG 6,030 POBL Group - VAWDAS 6,000 Santander - digital development 44,679 Screwfix Foundation 548 Shared Prosperity Fund Pembs. (939) Veterans Foundation 4,246 WCVA - Volunteering Wales - Welsh Government- Befriending - Welsh Government- Bereavement Su - 204,538 |
Incoming £ 9,707 24,878 99,950 - 396 42,000 31,349 2,000 - 187,250 - 1,872 10,000 42,594 - 100 105,036 2,009 - 408,679 126,131 87,860 32,401 94,592 - 44,742 - 67,244 20,000 27,696 211,304 - 1,679,790 |
Outgoing £ 8,533 23,720 54,534 36,432 396 36,030 27,310 2,000 6,339 186,439 6,296 - 236 45,489 - 100 105,036 3,440 4,192 285,140 107,398 17,093 32,401 94,240 6,000 56,948 548 64,683 21,564 - 211,304 132 1,443,973 |
Transfers £ - - (811) - - - - - - (811) - - - - - - - - - (7,997) - - - - - - - (1,622) - - - - (11,241) |
Balance c/f £ 1,174 5,200 44,605 - - 5,970 4,039 - - - - 1,872 9,764 32,434 3,696 - - - - 115,542 64,950 70,767 - 6,382 - 32,473 - - 2,682 27,696 - (132) 429,114 |
|---|---|---|---|---|
Transfers relate to capitalised equipment which is for the general use of the charity.
18
Age Cymru Dyfed
Notes to the accounts continued
for the year ended 31 March 2025
| 4 Restricted funds Balance b/f - comparative movement £ Advocacy West Wales -3 CIPA - Age UK - Cost of living response 2,052 Age UK - Dementia MCST project 3,219 Age UK - Digital Champions - Armed Forces Covenant Trust 5,620 Carms. CC - Additional digital 5,000 Carms. CC - Connecting Carms. - Carms. CC - Delta Tablet scheme - Carms. CC - Housing with Care fund - Carms. CC - mobilisation grant 14,300 Carms. CC - VR Support - Ceredigion CC - dementia pilot - Ceredigion CC - VR Support - Hywel Davies Residuary Trust 30,099 Hywel Dda UHB - Mental Health (13,422) PAVS - Keep Warm Keep Well 14,791 Pembs. CC - Enhancing Pembs. - Pembs. CC - I&A - Pembs. CC - Older Persons HSG 10,905 POBL Group - VAWDAS - Santander - digital development 49,379 Screwfix Foundation 548 Veterans Foundation 4,738 Welsh Government- Befriending - Shared Prosperity Fund Pembs. - 127,229 |
Incoming £ 23,316 30,000 13,400 32,000 73,917 - 187,250 12,888 38,964 - 14,238 99,519 1,540 - 147,382 - 47,680 31,795 29,982 6,000 47,017 - 20,000 210,132 1,067,020 |
Outgoing £ 19,274 32,052 16,619 32,000 43,105 5,000 187,250 6,394 3,635 9,111 7,305 98,727 109 25,907 87,743 14,791 46,680 31,795 34,857 - 51,717 - 20,492 208,510 939 984,012 |
Transfers Balance c/f £ £ - 4,042 - - - - - - - 36,432 - - - - (198) 6,296 - 35,329 (1,493) 3,696 (594) 6,339 (792) - - 1,431 - 4,192 - 46,217 - - (1,000) - - - - 6,030 - 6,000 - 44,679 - 548 - 4,246 (1,622) - - (939) (5,699) 204,538 |
|---|---|---|---|
19
Age Cymru Dyfed
Notes to the accounts continued for the year ended 31 March 2025
4 Fund name
Purpose of restriction
Adferiad Digital support for the wellbeing of unpaid carers Advocacy West Wales -3 CIPA To provide independent professional advocacy in Ceredigion AFCT - Building Stronger Futures to set in place a system for identifying all older veterans aged 50yrs+ and therefore creating a preventative system which will meet the needs of subsequent generations of older veterans AFCT - Veterans in View To provide welfare support to older veterans Age Cymru West Glamorgan Supporting their digital bid Age UK - J E George legacy Delivering Mental Health Support around Milford Haven Age UK - More Money for You Delivery Welfare Benefit Checks Age UK - tender support Money received to support the use of Tenders Uk with bids Carms. CC - VR Support Delivering Virtual Reality Experiences to older people Carms. CC - Connecting Carms. Delivering preventative services for older people and adults with disabilities Carms. CC - Delta Tablet scheme Utilising unused tablets from Delta Wellbeing with older people in the community Carms. CC - Dementia Wellbeing Delivering Dementia Training in Carmarthenshire Carms. CC - Digital Inclusion fund Payment of expenses for digital staff and volunteers Carms. CC - Housing with Care fund Administration of grants to unpaid carers Carms. CC - mobilisation grant To support the set up costs and time for launching the Connecting Carmarthenshire programme Carms. CC - VR consultation Delivery of virtual reality training to Adferiad Ceredigion CC - dementia pilot To support people living with dementia to remain in their home of choice Ceredigion CC - VR Support Delivery of virtual reality workshops to unpaid carers in Ceredigion
Hywel Davies Residuary Trust To provide mental health support in and around Milford Haven Hywel Dda UHB - Dementia Wellbeing Support services to address low level mental health and wellbeing issues for older adults and their carers Hywel Dda UHB - Social Inclusion Support services to address low level mental health and wellbeing issues for older adults and their carers Moondance Foundation Delivery of digital inclusion support Pembs. CC - I&A To provide a comprehensive information and advice service for older people in Pembrokeshire Pembs. CC - Older Persons HSG To support older people around their housing needs helping them to live independently and comfortably for as long as possible in their own homes POBL Group - VAWDAS Awareness raising of domestic abuse amongst older people Santander - digital development Delivery of digital inclusion support Screwfix Foundation To improve and develop the Haverfordwest office Shared Prosperity Fund Pembs. A partnership with PAVS to deliver welfare benefits and digital support to people in Pembrokeshire Veterans Foundation To provide practical services to older veterans in need by delivering a range of support services WCVA - Volunteering Wales Supporting our volunteering strategy and the new Heart of the Community initiative Welsh Government- Befriending Support for lonely and isolated older people
Welsh Government- Bereavement Support Supporting people aged 70+ who have recently been bereaved
20
Age Cymru Dyfed
Notes to the accounts continued for the year ended 31 March 2025
5 Costs of Charitable activities and services
| 2025 Unrestricted funds £ Wages costs, incl. NIC & Pension 281,750 Staff travel and training 10,722 Other staff costs 2,043 Volunteer expenses 227 Project equipment, materials and other costs 6,320 Rent and water 8,663 Heat and light 2,719 Insurance 3,098 Telephone 8,033 Printing, postage and stationery 2,624 Computer and software costs 12,868 PR and advertising 68 Other office costs 2,041 Repairs, maintenance and leasing costs 7,367 Audit 1,067 Accountancy and Finance support 6,566 Marketing support 4,146 Professional fees 15,078 Bank charges 2,070 Trustee expenses 245 Bad debts 4 Sundry expenditure 308 Loss on disposal of fixed assets 620 Depreciation 3,374 Total expenditure 382,021 |
2025 Restricted funds £ 1,125,048 43,836 9,341 1,790 99,259 20,526 6,445 7,251 10,199 8,435 4,899 2,906 7,669 18,003 2,529 15,556 8,289 41,845 256 529 - 1,052 - 7,993 1,443,656 |
2025 Total funds £ 1,406,798 54,558 11,384 2,017 105,579 29,189 9,164 10,349 18,232 11,059 17,767 2,974 9,710 25,370 3,596 22,122 12,435 56,923 2,326 774 4 1,360 620 11,367 1,825,677 |
2024 Total funds £ 1,117,977 38,235 9,115 4,091 37,148 31,312 11,867 7,198 17,636 10,148 16,440 2,557 6,835 22,158 3,640 22,005 11,603 45,645 2,649 976 693 944 - 8,935 1,429,807 |
|---|---|---|---|
6 Costs of Raising Funds
| 2025 Unrestricted funds £ Investment management fees 134 Wages costs, incl. NIC & Pension 13,485 Total expenditure 13,619 |
2025 Restricted funds £ 317 - 317 |
2025 Total funds £ 451 13,485 13,936 |
2025 Total funds £ 1,133 12,552 13,685 |
|---|---|---|---|
21
Age Cymru Dyfed
Notes to the accounts continued
for the year ended 31 March 2025
| 7 8 9 10 **11 ** |
Tangible assets Cost At 1 April 2024 Additions Disposals At 31 March 2025 Depreciation At 1 April 2024 Depn reversed re. disposals Charge for year At 31 March 2025 Net book value At 31 March 2025 At 31 March 2024 Debtors and prepayments Debtors Prepayments Accrued income Other debtors Current asset investments Cash equivalents on deposit Cash at bank and in hand Cash at bank Cash in hand Creditors and accruals Creditors Accruals Deferred income (see note below for analysis) Taxation and social security Other creditors |
£ 64,780 12,960 (9,925) 67,815 39,428 (9,305) 11,367 41,490 26,325 25,352 2025 £ 197,043 12,769 120,200 17,911 347,923 2025 £ - - 2025 £ 876,270 304 876,574 2025 £ 26,292 31,367 132,434 22,257 11,064 223,414 Equipment |
Total £ 64,780 12,960 (9,925) 67,815 39,428 (9,305) 11,367 41,490 26,325 25,352 2024 £ 226,234 18,595 127,219 15,550 387,598 2024 £ 85,000 85,000 2024 £ 521,264 194 521,458 2024 £ 24,634 19,493 136,295 16,187 3,323 199,932 |
|---|---|---|---|
22
Age Cymru Dyfed
Notes to the accounts continued
for the year ended 31 March 2025
| Deferred income Grant- Hywel Dda UHB Grant- Hywel Davies Residuary Trust Grant - Adferiad Grant - Age Cymru Grant - Hywel Dda UHB |
Deferred to next year £ 32,164 - - - 100,270 132,434 |
Released from last year £ (31,533) (5,000) (9,707) (42,000) (48,055) (136,295) |
|---|---|---|
12 Deferred income
Reason for deferral
Grant- Hywel Dda UHB Grant- Hywel Davies Residuary Trust Grant - Hywel Dda UHB
Grant received for the Social Inclusion project for the period from 1 April to 30 June 2025, invoiced in March 2025. Grant received for 2025-26
Grant received for the West Wales Dementia Wellbeing Connector service for the period from 1 April to 30 June 2025,
| Designated funds Balance b/f £ Planned closure costs 174,000 Service development 27,788 Marketing support 20,000 Veterans' support 9,685 231,473 |
Incoming £ - - - - - |
Outgoing £ - 3,675 4,248 3,286 11,209 |
Transfers Balance c/f £ £ (174,000) - - 24,113 - 15,752 - 6,399 (174,000) 46,264 |
|---|---|---|---|
13 Designated funds
Fund name
Planned closure costs
Service development
Marketing support Veterans' support
Reason for designation
to mitigate the risks of unplanned closure or a substantial reduction in activities, the net provision was released back to unrestricted free reserves during the year, as these risks are encompassed within the normal constraints for which reserves to enable the funding of service development opportunities identified within the strategic business plan. The provision was revisited and reduced in the year as a result of amended to fund the costs of a marketing manager and associated costs. to supplement grant funding for veterans'' projects to continue the post of veterans' coordinator.
23
Notes to the accounts continued
Age Cymru Dyfed
for the year ended 31 March 2025
14 Related party transactions
Trustee expenses
During the year 3 trustees were paid a total of £774 in respect of travel (previous year: 3 trustees and £976).
Trustee remuneration and benefits
One trustee received remuneration or benefits during the year (previous year; none) .
| Details of remuneration and benefits Natalie Moyce Consultancy fees |
2025 £ 12,464 12,464 |
2024 £ - - |
|---|---|---|
Reason for remuneration
The trustee was engaged in the role of marketing consultant.
Legal authority for the payment
The legal authority for the payment is via a provision within the charity's governing document.
Remuneration and benefits received by key management personnel
The total employee benefits received by key management personnel were £197,370 (previous year: £169,452).
Other related party transactions
Income was received during the year from Age UK of £123,499 in grant income (2024: £81,550) and from Age Cymru of £8,977 in hosting fees and grant income (2024: £7,400).
Amounts due to Age Cymru Dyfed at the year end were £21,149 from Age UK (2024: nil) and nil from Age Cymru (2024: £1,850).
Trustee indemnity insurance was included in the charity's total insurance costs in both years and not separately identified.
15 Operating leases
| Within one year In the second to fifth years inclusive Expected future minimum lease payments over the remaining life of the lease, analysed into the period in which the commitment falls due: |
2025 £ 25,352 8,194 33,546 |
2024 £ 29,883 16,871 46,754 |
|---|---|---|
24
Age Cymru Dyfed
Statement of Financial Activities including comparatives for all funds (including summary income and expenditure account) for the year ended 31 March 2025
| 2025 2024 Unrestricted Unrestricted funds funds £ £ Income Donations and legacies 20,056 20,176 Charitable activities 315,122 333,097 Other trading activities 3,917 6,003 Investments 27,477 15,714 Other 1,183 3,478 Total income 367,755 378,468 Expenditure Raising funds 13,619 13,018 Charitable activities 382,021 446,462 Total expenditure 395,640 459,480 Net income / (expenditure) (27,885) (81,012) Transfers between funds 11,241 5,699 Net movement in funds (16,644) (75,313) Fund balances brought forward 614,938 690,251 Fund balances carried forward 598,294 614,938 |
2025 Restricted funds £ 606 1,679,184 - - - 1,679,790 317 1,443,656 1,443,973 235,817 (11,241) 224,576 204,538 429,114 |
2024 Restricted funds £ - 1,067,020 - - - 1,067,020 667 983,345 984,012 83,008 (5,699) 77,309 127,229 204,538 |
2025 Total funds £ 20,662 1,994,306 3,917 27,477 1,183 2,047,545 13,936 1,825,677 1,839,613 207,932 - 207,932 819,476 1,027,408 |
2024 Total funds £ 20,176 1,400,117 6,003 15,714 3,478 1,445,488 13,685 1,429,807 1,443,492 1,996 - 1,996 817,480 819,476 |
|---|---|---|---|---|
25