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2022-03-31-accounts

REGisfERED COMPANY NUMBER.. 09442336 (England and Walesl REGISTEREO CHARITY NUMBER.. 1161709 Report of the Trust••s and Financial Staternènts for th* Year Ended 31$t March 2022 tor Community Lives Consortlum Haines Watts Wales LLP. Slalutory Auditors 7 Neptune Court Vanguaid Way Caidiff CF24 5PJ

Communlty Lives Consortium Contents of the Financial Statements for the Year Ended 31st March 2022 Page Report of the Truste•s Report of the Independent Audltors Statement of Financial Activities Balance Shett 10 Cash Flow Statement Notes to the Cash Flow Statement 12 Notes to the Financial Statements 13 to 23

Communlty LSves Consortium (Registered number: 09442336} Report of the Trustees for the Year Ended 31st Marth 2022 The trustees who are also directors of the charity lor Ihe purposes of the Companies Act 2006. present their report wth th8 financial statements of the charity for the year ended 31s1 March 2022. The trustees have 8dopted the provisions ol Accounting and Reporting by Charities.. Slatemenl ol Recommended Pr8ctlC8 applicable lo chaiities Preparin9 their accounts in accordance wlh the Finanryal Reporting Standard appIl￿ble in Ihe UK and Republic ol I￿land IFRS 1021 leffeclive 1 January 20191. Ineorporatlon The charitable company was incorwrated on 161h Febnjary 2015. Objectivès and aetivitlès Purp058s and aims The aim ol Ihe Consortium is to provide support lor people who wanl to live successlul lives in thgir ¢x)mmunities. The Consortium provides services under contract vAth either City and County ol Swansea or Neath Port Talbot County Borough Council. Public benefit We review our aims. objectives and acb"wlies each year. This rewew looks al what we achieved and the outcom&5 01 our work in the pievious twelve monU)s. The rewew also helps us ensure our aims. objectives and aclivilies remained focused on our stated objectives. We have refeired to the guidance contsined irh the Charity Commission's general guidance on public benefit when reviewng our aims and objectives and in planniw our futufe activities thus ensuring that il continues in its purpose of supwrting disabled people lo INe successful lives in Iheii communities. Page 1

Community Lives Con$ortlum (Reglstered numbèr.. 09442336) Report of the Trustees for the Year Ended 31st March 2Q22 strategic report Achievement and perfomiance Chalitable activities The Consortium bs a non-profit making organisalton. we support people vtho need extra support 8nd social care lo live successlul lives in the communities of Swansea arKI Neath Port Talbot. Our shared purpose Trs lo s(tpport people lo live the lile they choose. The people it SLtpports, their families. and th8 staff ernployed to support them ale encouraged to work logether so that Ihe things that malter to these people occur reliably and sèfely in Iheir I￿es. Our yea¥ between April 2021 and March 2022.. The organisalion has started supp￿lIng more people over the year as it stsrts to grow again following th& conclusion of the Swansea relendering process.11 all vacant tenanues arg filled we have capaaly to serve 175 individuals al the end ol the year. By the end ol the year we were delivering 11,010 hours of SUPFKtrri per week an(S employed 396 staff. In response lo this relendering we have developed a new locality model for support. this model has won all ol the tenders possible and scored very highly in the tendering Gompetitions that took Flace. This locality model ol 5UPPOrted living is now being developed to become lomally user led. we now have rnonlhly user-led managenient groups for all of our localities. We are also suprK)rting 5 of oui members to run their own Direct Payment cooperalsve through which Ihey organise their personal care which the organisation Ilelivers. This is Challenging us lo make all ol our management syslems simpler so Ihal people can becorne full partners in lh8 management of their support. We provide Ihese services lo the people thal we support=. Supwjrt wilh personal care and lo maximise their wellbeing and independen¢e.- Support to live a full live in the community and to access employment and day time opportunities- Support to mainiain and develop their personal social nelworks- Support to manage their money.- Support to look after their home. The people that we support have 5 ijifferent St￿la1 landlords. some also have private landltsrds and two own their homes. In this year a rnajor theme has been protecting both the people we support and their staff teams from COVID19 We have introduced comprehensive measures that have ensured ihat we and Ihe people we support have followed the changing COVID guidance over this period. Only a small numbei of people we support have tested positive for COVID 19 and they have all had a mild illness. Our COVID measures have been Mewed as robust and thorough by local Public Health officials. Our communication systems have thanged in resFM)nse to COVID and we have used 'F8cebook Workplace, as an internal communication system. This has enabled lenants and slalf to communicate openly with eaGh other while covid restrictions have been in place. We tjse communication systems prowded by both Googlo and Facebook thL*S this has also improved the ￿5111ence of our communication systems. The greatest pressure on the organisalion is the diificulty to recruit sufficienl numbers ol stall. this is an issue across the social care sector however the level ol recruilmenl in March 2022 was 93Qk and the turnover for the second six months ol this period was 14Y.. This issue is exacerbaled by a highei level ol sickness abs8nC8 caused by COVID 19. We have worked with our commissioners lo develop a low slalfing plan, this plan has enabl8d us lo provide a safe and oulcome focused semce while we have been managing bolh Covid and under r8cruilmenl. It is very posilive thal in Oclober 2021 oui comtnissioner5 agreed lo give vs a 10Yo fee uplill so that we could increase front line rates of pay lo above Real Llving Wage level5. Financial review Flnancial position The operating surplus for the pe￿d ended 31sl March 2022 amounted lo £245.635. The overall level ol funds carried forward into 2021122 amounted to £696.282 of which £166,880 is reslll¢led. Funding continued to be received from those local authorities wth whom the Consortium has a service level agreement. This income is treated a5 reslriGled based on geographical grounds. In addition the Consortium rerRived Supporling People Grant from those local authoriiie5 as well as contributions Irom the people we support in Ihe form of housing benefit and other conlribulions. The principal cost for the period was staff salaries and related costs, the staff provides the level of care reoLJireil lo meet the Consoriiurn's obligation5 under the Servi￿ level agreements. In addition. the Consortium rneels the cost of accommodation on behalf ol U)e people we 5UPPOrt, including rent. housing associations manaoement charges and other housekeeping costs. Page 2

Community Llves Consortlum (Registered number. 094423361 Report of the TruSt￿S lor Ihè Year Ended 31st March 2022 Strateglc report Financial review Reservos polScy The reserves policy ol the Consortium recognises the need lo hold reserves to ensure funds ar8 available ¢0 provide conijnuing care to people disabilities should Ihe irKome levels fall. A minimLJm level ol reseNes need5 to be reiained to ensure the trustees can opeiate If individual proiecis are lost to 8nsure the rernaillin9 projects can support indirect overheads. In addition, reserves are required to meet legal and other statutory commitments should the Consortium be unable to continue due to a lack of a sustainable income stream. Reserves are also requi¥ed lo meet Ihe luture maintenance programme for the actx*mmodatitsn prtiwded for the people we support. The trustees have set a target ol establishing and mainièining the charity's reserves al a level which is at least equivalent to three months'operalional expenditure aThJ wll do so having regard lo Ihe manner of operation of its funding streams. The Consortium is dependent upon receipt of Local Authority Giants. Supporting People Grants and other inctsme. Thè current economic climate is uncertain and the threal ol Central Govemment cul5 wll almost certainly have a negative impael on future income slrearns. A reduction in thal govemmenl funding wll inevitably lead lo a review ol current grant levels. The twsl is experiencing a lack of lunds available lor SUPFQrt due to Ihe historic low interest rates. The Con50rtium iecorded an increase irb its unreslrided funds of £195.635, with over811 total funds showng a nel assgt position of £696,282 at the year etmj. This reflects the operational ackn"￿tles lor the year which saw a surplu5 of £245,635.The level ol available reseThes unreslricled funds less fixed asseis and designated reseNes on 31st March 2022 was1£322.7261. This is due lo Ihe change in Ihe way SHPS are now able to provide CLC with the actual cost of the past service deficit debt under FRS102 in relatK)n lo the closeil Defineil Benefit scheme thal operated in the past. The inclusion of this liability has a negalive impa¢l of £459.0￿} on the reserve5. The trustees are committed to maintaining current seFWts levels for as long as the funding pèmils, and will review thè levels ol resetves required regularty on a quarterly basis, vthen Ihe quarterty management accounls are presented. Plans for future ￿riOdS The Ihings Ihal have happened over the last year. the inlomialion we have about our performance and whal we have been told by people involved wlh the semce suggests thal there ar8 important things we need to loGus on. these are". Recruitment, ¥elention and working lo become a Real Living Wage Employer again now that the Real Living Wages rate has increased to £10.90 per hour Developing our I￿alitieS model Maintaining robust financial management Actively s8ek new opportunities in other l(ul authorily areas Further inforwnation on these plans can be found on our full Annual Report 8vailable Irotn our website. Improving the way we manage the organisation Recruitment In April 2022 the most significant challenge lo Ihe successful delivery ol our seNce is continuing to recruit a sufficient number of s18ff. We have commilled wrselves to remainiry a Real Living Wage empfoyer, after Ihe rate of Real Living Wage increased to £10.90 per hwr in October 2022 we need a furlher rate uplift of at least 5.5% to meet these wsts. these are being negotiated with our commissioneis. We have created new roles to allracl both social care students in local wllws arhd also morg experienced staff through the ciealion ol a Lead Support Worker role. We are developing a very local recruitment approach vthich links wth local community development workers and community groups and linds people looking for work who share similar inleresls to the people that we support. Financial Management In May 2021 we very sadly lost our Direclor of Business and Fw)ance after a very sudden illness. Our Business and Finance team has covered his absence positively. We apwinled an Inlerim Financial Controller to support our finance team lo develop and this has led lo ￿¢rUitIng a new Part Time Financial Conlroller posl to supervise Ihe team from September 2022 onwards. Page 3

Communlty Llves Consortium IRegi$tered number: 094423361 Report of the Tiustees for the Year Ended 31st March 2022 Structure, governance and managèmenl Governlng document The charity is ¢onlrolled by its goveming document. a deed ol trust. and constitutes a limited company, limited by gvar8nte8, as defined by Ihe Companies Act 21106. The Charity is a company limited by guarantee, wisiration number 09442336 and is governed by its Memorandum and Articles ol Association. 11 is also registered wth the Charity Commissson, number 1161709. The Tru51ee5 are a150 the Board of Management (DIr￿t01$) of the Charity. The Iwslees nominale prospectsve truslees ¥tho are officially accepted at the Annual General Meeting. Reeruitmont and appointmènt of new trustees The Trustees are appointed by the MemL￿r$ at Ihe AGM. They are not only drawn from the business community in Ihe locality in which the Ctrnsottium operales, tH¥t also include repre5enlalives from fflanagillg partners and other organisations working Mith the Consortium. In addilitsn. the people we 5upporl are encouraged to b8come board members as part ol the Consortium's philosophy of iMpro￿n9 and developing therr lives. Most of Ihe trustee5 ore already familiar wlh the practul work of Ihe Consortium. New trustees are invited and encouraged to attend a series ol short training sessions to familiarise themselves with the Consortium and the Context within which it operates. An Induction pack has beèn prepared drawirbg information from the various Charity Commission publications signposted through the Commission's guide "The Essential Trustee. as a follow up to these sessions. Organisational stru¢tur• The Iwstees are responsible for formu181ing w)licie$ and prwedures and for ensuring Ihe Correct level of internal control. The day lo day iunning ol the Con50rtium is the iesponsibilily of the Chief Executive and th8 Management Team, who report to the Injstees at their regular meelings. There are no viAunteers. The Board of Management have overall responsibility for the govemance of CLC. Financial controls Controls over the client affairs are affecled by an inspection by both the Trustees and Ihe extemal auditors. Internal conlrols are subject lo regular inspections from the contract managers and the local aulhorilies. Employmenl pollcles The charity's policy is to give full and lair consideration to applications for employment made by disabled persons, having regard lo their particular apliludes and abilities. Disabled employees receive 8ppropriate tr8inin9 to promote their ￿reer development wthin the charity. Employees who become disabled are ietained in their existing Posts where possible or relrained for suilablo alternative posts. Regular meetings are held beNveen senior managemertrl ar￿ employee represen1a￿VeS to discuss matters of conc@rn. Employees are kept w811-inforn)ed aboul Ihe progress and position of the tharity by means of regular departrnenlal meetings. Related partles The trustees iTiclude seNice users and relatives loi which Ihey r8ceive no sp8cial rights or priwleg85. Risk management The trustees have a duty lo identify and review Ihe risks to which the Charity is exposed and to ensure appropriate controls are in place to provide reasonable assvrance against fraud and error. The Trustees have iecognised the loss ol grant lunding and a failure of its duly of care io the b8neficiaries of the Consortium as ils major risks. To mitigate the 1055 01 lunding a Teserve policy has been created to enable the principal objects lo be mel and lo meet any statutory ￿undan¢Y costs which may arise as a resull ol the loss. Suitable levels ol supervision. training and procedures have been put into place lo ensure the standard ol care is ol the highest level. Internal controls have also been implemented lo safeguard Ihe people support money. Reference and administrative details Registered Cornpany number 09442336 (England and Wales) Registered Charity number 1161709 Page 4

Communlty Llv•s Consortlum (Rtglstered numbor: 094423361 Report of the Trustees for the Year Ended 31st March 2022 Registered offiet 24 Walter Road SWANSEA SA1 5NN Trustg8S Mr C Edwards Mr S H Harper Ms N J A Roberts Mr P Shullleworth MsSMCole Mr l G Davies Mr P J Jones M5 L C Slainsby Mr P Lawrence Company Secretary Mr R I Wilson Auditors Haines Walls Wales LLP, Statutory Auditors 7 Neptune Court Van9uard Way Cardiff CF24 5PJ Bankers Barclays Mid & South West Wales Team 1-6 Pocketls Wharf East Burrows Roail Swansea SA1 3XL Funds held as custodian for others The Consoriium manages money on behalf ol its semces users. This semce includes paying expendituie on their behalf. Detailed records are kept lo ensure Ihal the Consorlium is able to i(Jentify amounts owed tolby each indimdual. Key management Rick Wilson- Chief Executiv8 Lynda Rosselli - Responsible Individual David Liddiard - Parl Time Finanaal Contrdler Statement of trustees. responsibilities The trustees (who are also the directors of Community Lives Consortium for the purposes of Company lawl are responsible for preparing the Report of Ihe Trustees and Ihe financial slatemenls in accordance with applicable law and United Kingdom A¢¢ounting Standards (United ￿"ngdoM Generally Accepted Accounts"ng Praclicel. Cornpany law requires the trustees lo prepa￿ finanual sialements lor each financial year which give a true and fair view of the stale of affairs ol the chaiilable cornpany and ol the incoming resources and applicalion of resources, including the income and expenditure, ol the chafltable company lor Ihal period. In preparing those rtnancial siatements, the trustees are required to select suitable accounting poliaes and then apply them consistenlly. observe the methods and prinapies in the Charity SORP.. make jvdgemenls and estimates that are reasonable and pwdent: slale whether applicable accounting standards have been lollowe(I, subject lo any maleiial departures disclosed and explained in the financial slalemenls.. prepare the financial slalements on the going conc8m basis unless it is inappropriate to presume thal Ihe charitable company wll continue in busine5S. The Iruslees are responsible for keeping proper accounbng recoids which di￿lOse with reasonable accuracy al any lime th8 financial position of the etharitable cofflpany and to enable thetn to ensu￿ Ihal the financial slalemenls comply wilh the Companies Act 2006. They are also responsible foi safeguarding the assets of the Charitable company and hence for taking reasonable steps for Ihe prevention and detects.on ol Iiaud and oU)er irregularities. Page 5

Community Lives Consortium (Registered number.. 094423361 Report of the Trustees for the Year Ended 31st March 2022 staternent of trustees. ￿spOnsIbl11¢1e$- continued In so lar a5 the trustees are aware= there is no relevant audit inlormalion ol which the chariiable companls auditors are unaware.. and the Iru5tees hav& taken all steps thal they ought to have iaken to make Ihemselves awafe of any relevant audit inlormalion and to establish thal the auditors are aware of that infom)alion. Auditors The auditors. Haines Walts Wales LLP, Stalulory Audilors. VAII be proposed for re4ps)oinlmenl at the forthcoming Annual General Meeling. Report of Ihe trustees. in￿r direclors. on aling a strategic report. approved by order of the txjard ol trustees, as the ¢ompany and signed on Ihe board's behalf by". ..1.91.1.21.2r Mr S H Harper- Tiustee Page 6

Rèport ol th• Inde￿ndent Audltors to the Members of Community Lives Consortium Oplnlon We have audited the financial statements of Community Lives Consortium Ilhe'charilable companYI for the ye8r ended 31st March 2022 which comprise the Statement of Firbancial Activities. Ihe Balance Sheel. the Cash Flow Statement and notes to the financial statements. including a summary of significant accourbts.ng Oicies. The financial reporting fr8mework that has been applied in their preparalion is applicable law and United Kingdom Acwunting Standards (United Kingdom Generally Accepted Accounling Practi￿1. In our opinion the financial statements= give a true and fair view of the state of the tharitable compan1$ 8ffairs as at 31st March 2022 and of its incoming resources and applicalioll ol resources, including its incowne and expenditu￿, for the year then ended.. hav8 be8n propeTly prepared In accordance wth United Kingdom Genelally Accepted Accounting Piactice., and have been prepared in accordance with the requirements ol the Companies Acl 2006. Basis lor oplnlon Wo conducted our audit in accordance wth Intemalional Standards on Audiling IUKI {ISAs IUKII and applicable law. Ouf responsibilities under those standards are furthei described in the Audilors. responsibilities lor the audit of Ihe financial statements section ol our report. We are independent of ihe charIta￿e company in accordance with the ethical requirements that are relevant to our audil of the financial statements in th8 UK. inclLKling the FRC'S Ethical Standard. and we have fulfilled our olher ethical responsibiliii85 in accordance wth these requirements. We believe that the audit evidence we have obtained is suffKient arml appiopriate to prO￿￿e a basis for oui opinion. Con¢lusions relaling ¢0 going Con￿rn In auditing the financial slalemenls. we have conduded thal Ihe truslees. use of the g(yng concem b8si$ ol awounting in the preparation of the financial slatemenls is appropriate. Based on Ihe work we have p8rtorm8d, we have not identified any malerial uncertainties rela14.ng lo events or conditions that, individually or collectivety, may cast signifthnl ijoubt on the charitable company's abilily lo Continue as a going concern lor a period of al least h¥elve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Irustees wilh respecl lo going Con￿r￿ are described in the relevant sections of this report. othèr Informatlon The Iru5tees are responsible lor the other infomiation. The olhei infomalion comprises the inlomiation included in the AnnLJal Report. other than the financial statements and our Repctrrt ol the Independent Auditors Ihereon. Our opinion on the financial statements does not ¢over the other information and, except to the extent otherwise explicitly stated in our report. we do not express any form of 85surarbce conclusion thereon. In connection with our audil of the finan￿81 ststements, our restK)nsibilily is lo read the other snfomation and. in doing so. consider whether the other inforrnalion ss materially inconsislent with U)e finanaal stalemenls or our knowledge oblain8d in the audit or citheThise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. are required to determine whether Ihis gives rise to a material misslalenient in the financial slalemenls Ihemselves. If, based on the ￿￿rk we have performed. we conclud8 that th8re 15 8 material misstatemenl ol this other infomation. we are reqvired lo report that facl. We have nothing to report in this regard. Opinions on other rnatter5 preserlbed bythè Companlès Act 2006 In our opinion. based on the work undertakerb in the course of Ihe audil." Ihe inforrnation given in the Report ol Ihe Trustees lor the (Inancial year lor vrt)id) the financial statements are prepared is con515tenl wlh the financial slatefflenls,. and the Report of the Trustees has been prepared in accordance wlh ap￿IcaNe legal reqviremenls. Matters on whi¢h we are required to report by exception In the light ol the knowledge and understanding ol the charitable company and ils enwronmenl obtained in the ctsurse of the audit, we have not identslied material misstatements in the Report ol the Trustees_ We have nothing to report in ￿SpeCt of Ihe fdlowtwJ matlers where the Companies Act 2006 requires us to report to you il, in ovr opinion.. adequate aocounling records have nol been kept or retUm5 adequate for our audil have nol been ￿ceiVed Irom branches not visited by us.. or the financial statements are nol in agreemenl with the accountsng ￿CordS and relums", or certa￿n disclosures of trustees, remuneration speafied by law are not made., or we have not received all the Information and explanations we require lor our audit. Page 7

Report of the Independent Auditors to the Members of Community Lives Consortium

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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

Our planning procedures identify the legal and regulatory frameworks applicable to the operations and financial statements of the group. These are reviewed internally with the audit team including relevant industry experience and expectations as well as externally with the client management. The key laws and regulations we considered in this context were the UK Companies ACT 2006, Charities Act 2011 and relevant tax legislation.

Once identified, we assess the risks of material misstatements in relation to the laws and regulations, irregularities, including fraud and adjust our testing accordingly. Our audit procedures include:

Despite the audit being planned and conducted in accordance with ISAs (UK) there remains an unavoidable risk that material misstatements in the financial statements may not be detected owing to inherent limitations of the audit, and that by their very nature, any such instances of fraud or irregularities likely involve collusion, forgery, intentional misrepresentation, or the override of internal controls.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Victoria Carter (Senior Statutory Auditor)

for and on behalf of Haines Watts Wales LLP, Statutory Auditors 7 Neptune Court Vanguard Way Cardiff CF24 5PJ

22/12/2022 Date: .............................................

Page 8

Communlty Llves Consortium Slalement of Financlal Actlvltles Ilncorporating an Incorne and Expenditure Account) for the Year End•d 31st March 2022 2022 Total funds 2021 Total fund$ Unrestrtcted funds Restricted fund$ Not85 Income and endowments from Charitable acti¥itios Supported living 12,194.715 12.194,715 13,175.057 Expenditure on Charitable activltles Supported living I1,￿9.080 11,949.080 13,122.766 NET INCOME Other re¢ognis8d gainslllossesl Actuarial gainslllossesl on defined benefit schemes 245.635 245,635 52,291 {50.0￿) 150,0001 184,0001 Net movement in funds 195.635 195,635 131.7091 Reconciliation of funds Total funds brought fO￿ard 333.Y67 166.880 500,647 532,356 Total funds carried forward 529.402 166.880 696.282 500,647 The notes forrn part ol ihese financial sialements Page 9

Community Lives Consortium IRe9islered number.. 094423361 Balance Sheet 31st March 2022 2022 Total funds 2021 Total funds Unrestrfcted funds Restrlcted funds Notès Fixed assets Tangible assels 639.119 639,119 656,493 Current assets Debtors Cash al bank 1.040.438 30.548 1.040.438 197,428 889,527 198.719 166.880 1.070.986 166,880 1.237,866 1,088.246 Creditors Amounl5 lallin9 due within one year 10 (668.7081 1668,7081 1582.2761 Net currenl assets 402.278 166.880 569,158 505,970 Total as5et5 less current liabilities 1.041.397 166.880 1.208,277 1,162,463 Credltors Arnounls falling due after mor8 than one year 152.9951 152,9951 192.8161 Provisions for liabilities 14 {459.0001 1459,0001 156g,0001 NET ASSETSIILIABILITIESI 529,402 166,880 696.282 500.647 Funds Unrestricted funds Restricted funds 15 529.402 166,880 333,767 166,880 Total funds 696,282 500,647 The financial statements were approved by Ihe Bo8rd of Twslees and authorised lor issue on 1.911212Q22............... and were signed on its behalf by= Mr S H Harper- Trustee The noles fowwn part ol Ihese financial sialements Page 10

Communlty Lives Consortium Cash Flow Statement for the Year Ended 31st March 2022 2022 2021 Notes Cash flows from operating activities Cash generated from operations Interest paid 46.162 14.3761 1135.4091 15.3841 Net cash wowded byllvsed in) operaling activi￿8$ 41.786 1140,7931 Ca$h Ilows from finan¢in9 activities Loan repayments in year 139.8211 135,4901 Nel ¢ash used in financing actiwligs 139,821} 135,4901 Change Sn cash and cash oquivalents In the reporting period Cash and ¢a5h equivalents at Ihe beginning of the reportlng period 1.965 1176.2831 195.463 371,746 Cash and cash equivalents at the end of the reporting period 197.428 195.463 The notes lom) parl ol these financial siatemenis Page11

Community Lives Consortium Notes to the Cash Flow Statement for the Year Ended 31st Ma￿h 2022 Reconclllation of n8t income to net cash flow from operatlng activitiès 2022 2021 Net Incomè for the reportin9 period las per the Statement of Finanesal Activities) Adjustments for: Depreciation Charges Interest paid Ilncreaselldeuease in deblors Incieaselldecreasel in creditOTS Oifference belween pension chaige and cash contribulions 245,635 52,291 17,374 4,376 1150.9111 89.688 1160,0001 18,387 5,384 45,811 1102,2821 1155,0001 Net cash provld•d byllusad inl operations 46,162 1135.4091 Analysis of cash and cash equivalents 2022 2021 Notice d8POSlts (less than 3 mot)ths) Overdrafts induded in bank loans and overdralts falling due within one year 197.428 198,719 13.2561 Total cash and cash ￿￿1¥al￿nIS 197.428 195.463 Analysis of Changes in net lunds At 1.4.21 Cash flow At 31.3.22 Net cash Cash al bank Bank overdraft 198,719 13,2561 11,2911 3,256 197.428 195,463 1,965 197.428 Oebt Debts falling due within 1 year Debts falling due after 1 year 136.5871 192,816} 136,5871 152,9951 39.821 1129.4031 39,821 189,5821 Total 66.060 41.786 107,846 The notes fomi part or these financial slalements Page 12

Communlty Llves Consortium Notes to the Fin3ncial Statements for the Year Ended 31st March 2022 A¢counting pollciès Basls of preparing the financial statements The financial slalements of the charilable Company. which 1$ a publ￿ ben8fit entity under FRS 102, have been prepared in accordance wilh Ihe Charities SORP (FRS 102)'Accounting arml Reporting by Charities." Statement ol Recommended PraGtsGe appltGabJe to charitses preparing their accounls in accordance with Ihe Financial Reporting Standard applicAble in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20191,. Financial Reporting Standard 102'The Financial Reporting Standard applicaNe in the UK and Republic of Ireland. and th& Companies Act 2006. The finèntsal stalements have been prepared under the historical cost convention. Community Lives Con5￿tiuM is a charilable eompany in the United KIn￿J0M. The address of the regislered office is given in the charity snformaliijn on page 5 of these financial statemenls. The nature of the Charily's operats.tsns and principal aclivities are the provision ol or assistance wlh supported living. The significant accountiTrJ policies applied in the preparation of Ihese finan￿31 slatÈmenis are set out below. These policies have been cortrsistenlty appl¢8d to all years presented unless olhetwse stated. Income All income Is recognised in the Stalement of Financial Activities On￿ the charity h8s 8￿￿￿ement to the lunds. it is probable that the income wll be received and Ihe amount Gan be measured reliably. Housing benefil daimed on behalf of all servic8 Users is accounted fot on a receivaNe basis. Grants and service level agieements to support the provision of care are accounted for in th8 finan￿al year to which they relate. Grants received to finance the CA)St of fixeil asset are recognised as iestricted funds and used to finance the annual depreciation charge. Investment income comprises bank deposit interest received. Exp•ndlture Liabilities are recognised as eXperKJilU￿ as soon as the￿ is a legal or constructive obligation commilling the charily to that expenditure. il is probable thal a transler of economic benefits wll be required in settlement and the amount of the obligation can be measured reliably. Expenditur8 is accounled for tsn an accfuals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly allributed to particular h8adbn9S they have been allocaled to aclivilies on a basis consislenl wilh the use of resources. IrrecoveraNe VAT is charged againsl the category ol {esou￿$ expended lor which it w8s incurred. Governance costs Governance costs include costs ol the preparalton and examination of the slalutory accounts, the cosls ol trustee meetings and Ihe cost of any legal advice to trusiees on govemance or constitutional mallers. Suppori costs Support costs include central fun¢lions and have been allocated lo actiwly cost categories on a basis consislenl wlh the use of resourc85. for example. allocating property costs by floor areas, or per capila. Staff wsts by the time spent and tsther costs by Iheir usage. Tanglble fixed assets Depreciation is provided at the Idlowing annual rales in oriler to wrile off each asset over its estimated uselul Freehold property Fixtures and filtings Motor vehides 1.5% on Cost 15% on cosl 20% on Gost Fixe(l assets with a value in ex¢trss of t1.0￿ ale inib.ally ￿Orded al cost. Taxatlon The charity is an exempt charily wlhin the meaning ol schedule 3 01 the Charilies Acl 2011 and is c(>nsidered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and Iherefore it rneets the definition ol a charitable wmpany for UK corwation lax purposes. Fund accountlng Unrestricted funds can be used in accordance wth the charitable obiectives al the discrelion of the trustees. Page 13 continued...

Community Llv•s Consortium Notes to the Financial Statements - continued for the Year Ended 31st March 2022 Accountlng policies- continued Fund accounting Restricted funds only be used lor particular reslricled purposes wilhin Ihe objects of th8 charity. R85trictions arise when specified by th8 donor or when funds are raised for particular reslficled purposes. Further explanation of Ihe nalvre and PUryM)se of each lund is included in the noles to the financial sialements. Pension costs and other postwrntlrement benaffts The Charity operates a defined conlributs.orh pension stheme. Contribution payable to Ihe charities pension stheme are charged to the Sla(emenl ol Financial Acliwlies in the period to which they relale. The Charity also operates a defined benelil pension scheme. The assets of the scheme are held separately from those tsf the Charity. The prowsions of FRS102 have been adopted. The contributions to the scheme are charged to the Slalement ol Finanual ActsMties so as to spread thg cost of perisions over Ihe service lives ol employees. Conlifmed corblribution5 towards past service defiials are recognised on Ihe balance sheet as a creditor on nolilicalion wth valuations and payments lovrards Ihis balance adjusteil annually and in line wlh Iri-annual valuations. Debtors Debtors include amounts owed to the tharity for the provision ol goods and services or arnount5 the charity has paid in advanc8 for the goods and se￿7{*$ il will I￿1Ve. Debtots are measured al Iheii recover3ble amounts. Cash at bank and in hand Cash at bank and in hand is held lo meet short-term cash commitrrbents as they fall due and includes all cash equivalenls held in the form of short-lerm highly liquid invesiments. Cash equivalents are 5hort-term. highly liquid inveslmenls that are readily convertible to known amounts ol cash and that are subject to an Insignilicanl risk of changes in value. A cash equwalent will normally have a shorl maturity of,say, three months or less from the date ol acouisibon. Llabilities Liab111lies ale atnounts due to ¢reditors and any proVis￿n made as a result of an obligation lo transfer economic benefits. usually in the lom of a cash payment, lo a third party. Liabilities are measured al Iheir selllemenl amount and recognised lor the amount that the chèiily anticipales ¢t will pay to settle the debt. Redundancy Costs Redundancy costs arising from periodic reviews of slaff levels are charged against the slalemenl ol financial acts'vity In which employees leave Ihe charity. Income from charitable activities 2022 2021 Activity Supported IN7ng Supported living Supported limng Supported liwng Supported lithng Supported limng Supported liwng SSOD charg85 ILF Housing benefit Swansea Community Care NPT Cr)mmunity Care Swansea Bay UHB Rhondda Cynon Taff Covid-19 grant5 and additional income Sundry income 562,573 14.3801 1.821.394 4.031.070 3,772.781 1,117.564 651,032 65,322 2.101.886 4.881.739 3.341.332 1.337.960 74,546 Supported living Supporled living 784.548 109.165 553.831 167.409 12,194,715 13,175,057 Page 14 continued...

Communlty Llv•s Consortlum Notes to the Finan¢ial Statements- continu for the Year Ended 31st March 2022 Charltable acti¥ilie$ costs Support costs15e8 notè 41 Direct Costs Totals Supported liwng 10.467.384 1,481,696 11,949,080 Support costs Govèrnance costs Manag•m•nt Totals Supporled liwng 1.468,496 13,200 1,481.696 Net IncomellexpendSture} Net incomel{expenditure) is slated after Chargin￿(¢[ellItsn9}'. 2022 2021 Auditors. remuneratio Auditors. remuneration lor non audit work Depreciation- owned assets Loan interest 13,200 20,034 1,320 18,386 4,384 17,374 4.376 Trustees, remuneration and benefits There were no trustees. remunerati£￿ of cther benefits for the year ended 31sl March 2022 nor lor the year ended 31st Mafch 2021. Trustees. ex￿nSeS There were no trustees. expenses paid for ihe year ended 31s1 March 2022 nor lor the year ended 31 sl March 2021. Staff costs 2022 2021 Wages and salaries Social security cosls Other pension costs 8,955,402 666.323 283.906 9,860.745 735.540 347.207 9.905.631 10.943,492 The average monthly number of employees durtng Ihe year was as fdlows.. 2022 368 34 2021 458 34 Operational slalf Administrative staff 402 492 No employees received emoluments in excess 01 £60,1)00. During the y88r. Comrnunity Liv8s Consortium paid key managemenl gross salaries tolalling £131,586 12021.. £185.6581. Key management are considereij lo be 2 individuals Iluring the year 13 in prior yearl who directly irnpacl upon th8 strategic direction ol the charity. Page 15 conlinued...

Community Lives Consortium Notes to the Financial Statements- continued lor thè Year Ended 31$t March 2022 Tanglble Ilxed assèts Flxlures and fittings Freehold property Motor vehicles Totals C05t Al 1st April 2021 and 315t March 2022 708.607 9.398 43,671 761,676 Deprectation Al 1st April 2021 Charge for year 64.787 11.314 9.398 30,998 6,060 105,183 17,374 Al 31st March 2022 76,101 9,398 37,058 122,557 Net book value Al 31st March 2022 632,506 6,613 639,119 Al 31st March 2021 643,820 12.673 656,493 Debtors= amounls falling due wlthln onè ￿ar 2022 2021 Trade debtors Other debtors 969,445 70.993 878,995 10,532 1,040,438 889,527 10. Credltors.. amounts lalling due within one year 2022 2021 Bank loans and overdrafts (see not8 121 Trade creditors Social security and other taxes Other creditors Accrued expenses 36,587 51.133 218,936 342,018 20.034 39.843 38,799 187.970 295.630 20.034 668.708 582,276 Deferred income brought forward Arnounts released lo incoming iesources Atnounts deferred in year 249,255 1249,2551 213,587 191,128 1191,1281 249,255 Defer￿d incorne carried forward 213.587 249,255 Page 16 (xjntinued...

Communlty Llves Consortlum Note$ to the Financial Statements- continuod for the Year Ended 31st March 2022 11. Cr¢ditors.' amounts falllng due after more than one ￿ar 2022 2021 Bank loans (see note 12) 52,995 92.816 12. Loan¥ An analysis of th• rnaturity of loans is given below". 2022 2021 Amounts falling due within one year on demand.. Bank overdrafts Bank loans 3.256 36.587 36.587 36.587 39.843 Amounts falling between one and two years: Bank loans- 1-2 years 24.433 36,587 Amounts falling due between two and five years= Bank loans- 2-5 ye8rs 28.562 55.144 Amounts falling due in more than five years-. Repayable by instalmenls.. Bank loans more 5 YT by inslal 1.085 13. Securtd dèbts The following secured debts are induded *ithin credFlors= 2022 2021 Bank loans 89.582 129.403 The bank loans are secured ¢)n the assets of Community Lives Consortium. 14. Provbslons for Ilabilities 2022 2021 Pension Deficil Liabilily 459,000 569.000 2022 2021 Balance brought forward Amounts provided in the year Arnounls released in Ihe year 569.000 640,000 1110.0001 171,0001 Balance carried lorwdrd 459,000 569.1)00 During Ihe year the Charity has been pr(Mded with ils Calculated share ol the net liability ptssilion lor its parlicipalion in SHPS. Full details of Ihe pension scheme are shown in note 19. Page 17 nlinued...

Communlty Lives Consortium Notes to the Financial Statements- continued lor the Year Ended 31st March 2022 15. Movement In funds Nèt movement in fund$ At 31.3.22 At 1A.21 Un¥estri¢ted funds General fund Self Assurance CLC Assistiv8 Technology R&R Reserve 1518,6171 99,964 734.664 17.756 195,635 1322,9821 99,964 734,664 17.756 333.767 195,635 529,402 Restrlcted funds Intensive Support Local Authority Ysgol Street Developmenl 101.863 32,642 32.375 101,863 32.642 32,375 166.880 166.880 TOTAL FUNDS 500.647 195,635 696,282 Nel movement in funds. inclvded in the above a￿ as follows.. Incoming resources R850Urt•s txpended Gains and 1055eS Movement in funds Unrestricted Yunds General fund 12.194,715 111,949,080) 150.0001 195,635 TOTAL FUNDS 12.194,715 111.949,0801 150.0001 195,635 Comparatives for movement Sn funds Net movement in funds At 31.3.21 At 1.4.20 Unrestricted fund$ General fund Sell Assurance CLC Assistive Technology R&R Reserve 1486,9081 99,964 734,664 17,756 131.7091 1518,6171 99,964 734,664 17,756 365.476 131.7091 333.767 Restricted funds Inlensive Supptsrl Local Avthorily Ysgol Street Development 101,863 32,642 32.375 101.863 32,642 32,375 166,880 166,880 TOTAL FUNDS 532.356 131.7091 500.647 Page 18 continued...

Communtty Llves Consortlum Notes to the Financial Statements . ¢ontinLFed for the Year Ended 31st Mar¢h 2022 15. Movement In funds - contlnued Comparative net movemenl in funds. induded in the above are as follows". Incoming iesourcÈs Resources expended Gains and losses Movement in funds Unrestricted funds General fund 13,175.057 113.122,7661 184,0001 131.7091 TOTAL FUNDS 13.175,057 113.122,7661 {84,0001 131,7091 G8n¢ral funds Consortiurn. aré availablg for use al the trustees. discrelion in furtherance ol the objectives of Ihg Self Assurance- this is a long temi reserve designed io cover the Conlenls Insurance elemenl of setvices CLC Assistive Technology - this reserve has been creale(l io fund lechnology lo assist service users to be more indep8ndent. R&R Reserye - this ￿SerVe ￿lated lo nv)nies set aside to lund major tydical repairs and maintenance within CLC serwces Intensive Support Re$er¥e - this reserve has been ￿ated to provide the funding to expand the respite care service. Local Authorfty - this reserve has been eXeat￿ to fund the devèlopmènt in partnership wth CCS supported housing services in Swansea. Ysgol Street Development - this reserve has been created to fund Ihe support of the effective set up of new schemes agreed by Swansea. 16. Employe• benefit obligations The charitable company operales a defined con¢fibution pension scheme. The pension costs charged for the period in relation to this scheme amounled lo £283.9)6 {2021'. £321.714). 17. Related party disclosures The trustees inclu(Je seNce users and ￿la￿"Ve$ for vthich they receive no special rights or priwlegès. 18. Membtrs liability The oharity is a private company limiled by guarantee and consequently does not have share capital. Each of the members is liable to contribute an amounl not ex(zeding £1 towar¢Js the asseis of the charity in the evenl of liquidation. 19. Social houslng penslon scheme Communily Lives Consortium pathpates in Ihe So¢ial Housing Pension S¢heme Ithe S¢hemel. The Scheme is funded and is conlracled-oul ol the Slale Pension scheme. SHPS is a multi-employer defined benelil Scheme. Employer participation in ihe Scheme is subject to adhefence with Ihe employer responsibilities and obligatiot)s as set oul in the 'SHPS House Policies and Rules Employer Guide.. An employer can elect lo operate different benefit slructures for Iheir aclive members and their new enlranls. An employer Can only operate one open defined benefit structure at any one time. An open benefit slruclure is one which n8w enlranls are able to join. Community Lives Consortium currently opefates final salary wth a 1160th accrual rate. final salary kmlh a 11701h accrual rate and fin81 salary with a 1180th accrual rale benefil structure lor a¢live members. Page 19 continued...

Communlty Llves Consortlum Notes to the Financial Statements- continued for the Year Ended 31st March 2022 19. Soclal housing pension scheme- continued The Trustee commissions an aclua¥ial valuation of the Scheme every three years. The main purpose of the valuation is to determine the financial posilion of Ihe Scherne in order lo determine the level ol lulure conlribulions required, in respect of each benefit slruclure. so that the Scheme can meet ils pension obligalions as they fall due. From April 2007 the split ol the total contfibution rate belween member and employer is set al individual employer level. subject to the employer paying no less than 50% of (he total conlribulion rale. From 1 April 2010 the requiremenl for employers io pay at least 50°A of Ihe total contribution rate no ltsnger applies. The actuarial valuation assesses whether Ihe Scheme's assets al the valuation dale are likely to be sufficient lo pay the pension benefits accrued by members as al the valualion date. Asset values are calculated by reference to market levels. Accrued pension benefils are valued by discounting expected future benefit payments using a discount fate calculated by reference to the ex￿cted future investment returns. During the accounting period Community Lives Consortium paid contributs.ons at the Tate o17.25Vty lo 11.50/ member contributions varied between 6.75% and 7.9% The charity made an annual contribulK>n of £177.000 iowards thg past serwce deficit during the year. In accordance with FRS102 reporting fequirements the Charily is required to disclose cèrtain information concernin9 assels, liabilities. income and expendiiwe in relation to the pension scheme. Presentation valuès of Dèfined B8n8fit Obligation. fair value of assets and Defined Benefit Asset Iliabilityl 31 March 31 March 2022 2021 £OOOs £0005 5,262 5,717 5,721 6,286 14591 15691 Fair value of plan assets Present value of defined benelil Obligat￿)n SurplusllDeficill in plan Unrecogni5ed surplu5 Defined benefit asset Iliabilityl to be re(x)gnised 14591 15691 Reconclllatlon of the Impact of the asset ceiling 31 March 2022 £OOOs Impacl ol asset ceiling at slarl of year Effect of the asset ￿lling inclLided in net intwest cost Actuarial losses Igainsl on asset Gelling Impact of asset ceiling at end ol p8ritxl Reconciliation of opening and closing balances of the defined benefit obligation 31 March 2022 £OOOs 6.286 Defined benefit obligalion at siart of ￿￿<￿1 Current seNce cost Expenses Interest Expense Contributions by plan partic¢panls Actuarial losses Igainsl due to scheme exttrience Actuarial losses Igainsl due to changes in demographic assumptions Actuarial losses (gains due to changes in financial assumplions Benefits paid and expenses Liabilities acquired in a business combination Liabilities extinguished on seluements Losses Igainsl on curtailments Losses Igainsl due lo benefit changes Exchange rale differences Defined benefit obligalwjn at end of period 144 145 193} 12641 15031 5,721 Page 20 continued...

Communlty Llves Con$ortium Notes to the Financial Ststements- continued for the Year Ended 31st March 2022 19. Soelal houslng pension s¢heme- contlnued Recon¢iliation of opèning and closing balances of the fair value of plan assets 31 March 2022 £OOOs 5,717 133 Fair value of plan assets al start ol perKKI Interest income Experience on plan assels lex¢luding amounts induded in inierest in¢ome)- gain Ilossl Contributions by the employer Conlribulions by plan participants Benefits paid and expenses Assets acqui￿ in a business combination Assets distributed on seluements Exchange rale Changes Fair value of plan assets al end ol peric* 12621 177 15031 5,262 The actual retum on Ihe plan assets (including any changes in share of assets) over Ihe period ended 31 March 2022 was1£129.0001. Defined benefit costs recognised in statement of financial a¢¢ivitie5 - Net income and expenditure 31 Mar¢h 2022 £OOOs Curr8nl service cost Expenses Net interest Expense Losses Igasnsl on business combinaiions Losses Igairbsl on selllements Losses Igainsl on curtailments Losses Igainsl due to benefil Changes Defined benefit costs recogniseil in statement of financial activities 17 Delined benefit costs recognlsed In statement of financial actlvlues - Actuarial Gainslllossesl 31 March 2022 £OOOs Experien￿ on plan assets lexduding amounts ir￿a￿led in net inte￿1 cosll- gain Ilossl Experience gains and losses arising on the p18n liabililiès- gain (loss} Effects of changes in the demographic assumptions underlwng the present valu8 of the defined benefit obligalion gain Ilossl Effects ol changes in Ihe financial a5svmptions undedying Ihe present value ol the defined benefit obligaiion- gain Ilossl Total acluarial gains and losses (before ￿$trictIon du8 lo some ol ihe surplus not being recongisablel- gain (loss} Effects ol changes in the arni)unt of SU￿￿5 Ihal is nol recoverable lexcluding amounts included in net interesl costl- gain (Ios51 Tolal amount recognised in Actuarial gainslllossesl 12621 11451 93 264 1501 {501 Page 21 continued...

Community Llves Consortlum Notes to the Flnancial Statements- continued for ¢he Year Ended 31st March 2022 19. Soclal houslng penslon schemè- continutd Assets 31 March 2022 £OOOs 1.010 211 188 175 174 31 March 2021 £OOOs 911 316 165 180 215 Global Equity Absolute Return Distressed Opportunities Credit Relative Value Alternative Risk Premia Fund ol Hedge Funds Emerging Mathels Debt Risk Sharing Insurance Linked Securiiies Pioperty Inlrastruclure Pfivale Debt Opportunislic liquid Credil High Yield Opportuni$b'¢ Credit Cash Corporate Bond Fund Liquid Cred¢t Long Lease Property Secured Income Liability Driven Inveslmenl Currency Hedging Nel Current Assets Total assets 153 173 123 142 375 135 177 45 19 18 351 231 208 137 119 381 136 145 171 157 338 68 112 238 1.453 135 196 1,468 15 5,262 35 5,717 None of the fair valves of the asseis shown above indude any dI￿¢t investments in the employerfs own financial Instruments or any property ¢)c¢upied by. or olher assets used by, Ihe eM￿0yer. Key Assumptions 31 March 2022 31 March 2021 °A per annum °A per annLtm Discount rale Inflation IRPI} Inflation ICPI} Salary Growth 2.79 3.26 2.74 2.39 2.99 2.65 2.86 75°/ts 01 maxitnutn allowance 7510 of maximum allowance Allowance lor commulation of pension for cash at retirement The mortality assumpltons adopted at 31 March 2022 impty the lollowng life expectanci8s'. Life expectancy at age 65 Years Male retiring in 2022 Female r91iring in 2022 Male retiring In 2042 Female retiring in 2042 21.1 23.7 22.4 25.2 Community Lives Consortium a150 participates in the Pensions Trust's Growth Plan The Growth Plan is a mulli-employer pension Plan which is in most iespecls a money purchase arrangement bLJt il has some guaranlees. Contributions paid inio Ihe Growth Plan up lo and including September 2001 were converted to defined amounts ol pension payable Irom Normal Relirement Dale. From O¢lober 2001 conlributions were invested in personal funds which have a Capital guarantee and which are converted to pension on retsrement, either within Ihe GrovAh Plan ¢y by the purchase of an annuity. Page 22 nlinued...

Communlty Lives Consortium Notes to the Financial Statements continued lor the Year Ended 31st March 2022 19. Soelal housing pen$ion s¢heme- contlnu•d The Plan is lunijed and is not contracted out of the slale scheme. The rules of the Growth Plan 811ow for the declaration ol bonuses and l or inveslmenl credits il this 15 ￿thIn Ihe financial capacity ol Ihe Plan assess@d on a prudent basis. Bonuses l investment credits Èie not guaranteed and are declared at the discietion of the Plan Trustees. The Trustee comrnissions an actuarial valuatstsn of the Gro￿ Plan every 3 years. The tTrain purpose of the valuation is lo determine the financial posilion ol the Plan and so determine Ihe future prospects for discretionary bonuses and l or investment credits. The actuarial valuation assesses whether the Plan's assets al the valuation date are likely to be sufficient to pay the pension benefits accrued by members as at the valualion date. Asset values are caleulaled by reference to market levels. Acuued pension benelits are valued by discounting expected lulure benefit payments using a diswur)I rale calculaled by iefeTence lo the expected future investment returlls. Community Lives Consorliurn offers the Gro%•Ah Plan as an AVC investmenl optKJn for members ol the Social Housing Pension Scheme. The mernbers pay ￿n￿b￿￿On$ at a late ol their choicg. The organisalion does not pay any contributions to the Growth Plan. Page 23