REGISTERED COMPANY NUMBER: 09442336 (England and Wales} REGISTERED CHARITY NUMBER.. 1161709 R•port ofthè Trust••s and Financial Statements forthe Year Ended 31 March 2024 for Community Lives Consortiwn Haines Walts Waes LLP. Stalulory Auditors 7 N*ptune Court V￿guard ￿'sY Cardiff -F24 5PJ Communlty Llves Consortlum Cont•nt$ of FinarKlal Ststèmènts for the Year Ended 31 Mar¢h 2024 Pa9e Rèport of thè Trustees 1 to 9 R•port of th• Ind•pendent Auditors 10 to 12 Statement tsf Flnan¢lal A¢bvitles 13 Balance Sheet 14 Cash Flow Ststement 15 Notes to the Cash Flow *atemerrt 16 Notes to thè Flnancial SLitements 17 to 28 Communlty Lfves Consoruum (Reglstered number: 094423361 R•port of thé Trustèès for the Year Ended 31 March 2024 Th& truste8s who ara also dirèctors of thè charity for Ihe purposes of thè Companias Act 20(￿. present their re￿rt with tha financi81 statèmonts of tha Charity lor thè year gndÉd 31 Mar¢h 2024 Tho trust9ès hav$ adoptèd the provisions of A¢¢ounting and Reporting by Chanb'es.. Statement of Re(x)mmerKled Practice aptAicetAe to charities preparing theii aGGounts in accordance with the Flnandal Repming stsndard applkable In ihe UK and Republlc of Ireland {FRS 1021 leffect￿e 1 January 20191. Incorporatlon The chaiitable company was in¢orKK)rated on 161h February 2015. ObjeGtives and aGlivit185 Purposes and aims The aim of the Consortium is to prO￿e suprK)rt for people want to live successful lives in their communitEs. The Conscwtium provides sewvices under contract wth eithei City arml CIKJnty al Swansea ot NealhPort Talbot County Borough Countil. Public IMn•fit We review rMJi aims,objectives and activities each sear. This rewew lts)ks al what we achieved and the (￿t¢OMeS of our work in the previous twelve months. The ￿VIeW also hdps LS ensure our aims.obJ"ectives and *ivities iemained focused on our slated objectives We have iefeired to the guidance contained in the Charrty ComrnissK)n'5 general guidance Dll public benefil when reviewing our aims and objectives and in tAanning our futu￿ acbvitses Ihu5 ensuring Ihat it Ixjntinues in rt5 purpose of 5UPPOrting disabled people to live successful lives in their communtties. Pa98 1 Communlty Lfves Consoruum (Reglstered number: 094423361 R•port of thé Trustèès for the Year Ended 31 March 2024 Strateglc report Aehlgv•ment and p•rfr•rnMne• CharStablè aetlvltl•$ The Consortium is a non-profrt making organisation, we support tXQKle vtho neeij extra supwrt and soGial Care to Ivo suGGessful 1Sves In the communltles of Swansea and Neaih Port Talbor. Our shared Wr￿Se is to support people to live the lrfe they (thrM)se. The people it supports, their families. and the strff empkFyed to supw)rt Ihem are erwuraged to work t￿ther so that the things that tnatter to Ilie5e peoFAe occur feli3bly and safely in iheii live5 Our y•ar bètwè￿ April 2023 and March 2024- Main ar•as of activiths The report beli)w is a surnmary from the ￿lIne lull Annual iewjrt available at vMw.cotnrnunityltves.Ix).uk Vi•vA of p•opl• w8 support and family momb•rs about our p•rforn)anc• ov•r th• past ￿ar How do we U[￿erstand what tenznt5 think is got)d aM)Ut theii live5 antj what wll rnakp them bette We have three sources of informab"on'. Information that we gatherwhile suppcltng tenants to rewew I￿1r personal ￿an. As part of this process Personal Support Managers discuss with people we suppc41 and the people dose lo them, vthat is working well. and what is not working well, and what we can do to make things better. This inf(xrnati￿ 15 personal tD every tenant. Inforrn3lion from our Whatwe think sutvey- this survey for tenails and family mernbers gathers useful info)mation about what P8oplg think and what woul¢J rrak8 Ihings b8tter. Finally we have discussions at our Monthly Change team meetiros. Lctaities all have monthly meetings where the pecple we support rTreet with other people they thoose to ill4rte. In these meetrys we talk about Ihe best thing that has happened in the last rnonlh arvj the Ihings Ihey want to tnake th￿[ lives better. 21 31 Feedback from people that we support Our 'What we Ihink, online survey is based on the survey the ca￿ InSpect￿ate Wales {CIWI use lo get the views of people receiving support and their fatnily members. People can go d recuy to CIWS Webslte from our survey rf they wish to tell the inspectorate ￿YthIng about oui setvTrce. Wè enc(xJraoÈ pèoplè to givè us their views when Ihey arè tKep81irvJ to revièw their Personal Plan èvéry 3 Moni￿ts. We are very pleased Ihal 98°k ol lenants think th￿rsuppOrt is gcw)d orexcellenL Things people would like to change recenuy are". I would like more Community activities. I would like more hours lo w out with slaff In thè coming year we wanl tr) encourage family m8mbgrs to give ￿ m(Th feedbac*. Feedba¢k from th¢lr famlly M¢M￿r$ Feedback gathered by Ihe Reswnsible indrvtyjual as part of her Visiti￿ prctess was very gwj. I know my rèlativè is happy and wèll loc*ed after and that they rKJ ccx)cems whatsoever, but also kn8w who to go to if thèy had any coneems or complaints. My rglative has bewfng the person thgy shoukl a￿ayS have bw). The staff are wonderful and the communKa1￿Th betr￿en the staff and myseW is eX￿lIent, I have no concems al all. We feel very lucky that th￿r daughtei is suppcrted by Consortium. On tha face ol it. th8 support is eXcall￿t , X is actN8. has a go(xl soual lifè , and thg Staff at the home have Xs best interest at heart. Very happy with the suptx>rt my rdaknve r￿1￿¢$, the stsff a￿ worKlerful X and Unde￿￿ndS X'S personalty and needs. The staff have an excellent relationship with my relative. Our Localities and Networks Pa98 2 Communlty Lfves Consoruum (Reglstered number: 094423361 R•port of thé Trustèès for the Year Ended 31 March 2024 In April 24 wè had 4 L￿alitY sèrvicss in Swansaa, 2 Nèath Port Taltx)l N8h¥orts, a raspite & (Jay sarvic8 and onè Dirèct Pa￿nent ¢oopèrative in tr)tal supporting 190 ￿0p1&. Th¢s¢ arfr neI%￿)rkS ol rwplè who r8¢èiv8 SLJPPOrt and livo close to each olher,and manage their support togothet. This means Ihal people, Iheirfamily ffleMb￿S and Ihe staf that support them should= K￿W and trust each other well so that we can fflexitty help everyone tolive lives. Organise activities and events that improve thei. lives Make links with groups In the commuThty that strare thw"r int¢￿sts and amIM"ti￿$ Meet monthly to Iwk at what is working. not worknng and decide how to rnake thirws better. The Direct Payment coDperative'Frie￿ United T(yJetherf manage tr*ir own Company tr) arrange their suFy)rt. L￿alitIes'What is working. in the last year The most important positive thing is that overall our recrurfment levels have improved fijther since April 23. It has improved more in Neath & Port Talbot than in Swansea. This means that our suP￿rt is now more consistenl for the people that we supwjrt 8nd 50 they are building up strong relationships with the staff who support them. Our Personal Flan review process eVIden￿S that Peop￿ are beiThJ Sup￿)rted to work towards outcomes that matter to them. We have started to 5UPPQrt new groups of tenarts liwng irb Swansea and Neath Port Talbot as new 5eNcps have transferred to U5 frotn other organi5ations. Over the year we have consislently received very positive feedback from ￿Jr CommissK)ners in Swansea and NPT and the Care In5pectorale Wale5 for thp support Ihat we ptovvje. Localities'what is not working. in the 135t year Reciuiting staff ts very posrtive. however we n￿1 to rroke sure that all of these staff have ieceived all of the training tenants need them tts have. WÉ grè working with tenant's L8Thdlords to Ènsure thai peorAe's homÈs are beiThJ propÈrfy maintained and a number of roub.ne jobs were delayed due lo COVID. W8 havè worked hard to ènsure that any medicab.on errrxs are looked al r2iefulty to ensure they kepl to an absolutè minimum. We arè eoncÈmÈd that for a sm811 numbér of tenants. we do nol havé enoLvJh staff at night. or thèir homès arè not properly adapled lo support their safe evacuation In the case ol fire. We are cOn￿nuing lo work with serwice commissioners and Housing Asscciations. We are providing Ihem independenl assessmenls and Icgal opIn￿S that ￿11 help to resolve this matter soon. Belng safe and well Our Annual Health & Safety rem suggests due to the hard wc¥k of managers and staff that we ar& becoming an Èvèr morè safety conscious organisation. It rèports.. In the last year there were 278 ac(adeTrts, incidents & near misses. this is a 8°A reduthn over the previous 2 yea As a result there were hours of lost staff time, due to injuries a wot*, Ih s ts a reduction frrxm the wevious yGar. Thère wer8 42 m&dicatK)n èmrs in this yèar. this is an inJeasè cemparèd t) thè premus yaar. We are activety reviewing cxjr processes and systems so that we keep these to the absolute minimum. We introduced oui new Fire Safety ffiles which ensures peotAe have dear￿ inftKrn*i(m lo keep them safe from fire. We are working hard to improve fire evacuation for every>)dy that we support. Pa98 3 Communlty Lfves Consoruum (Reglstered number: 094423361 R•port of thé Trustèès for the Year Ended 31 March 2024 B•eomlng 'Exe•llont' In 2023 the Care Inspectorate Wales said they were g(Mng lo introduce a rathng scale ft>r support $erviGes April 2025. Over thtr last year these ratings have been slleni. Ihls means thai they a￿ noi wtrAlshed In our reForts. bui we are Informed by our InsFEclor how we are d￿1￿. These ratiws will help pec* looking lor services. but will ￿ really helpful for organisat#)ns like us to work to be as good as we can be. To ￿ rated as exTrllent we must be not only prowde a consislenl high quality semce for everybody but we must also be innovative and wsh the boundarie5 foi organisatK)ns like ourseths. Our Responsible Individu31 has Wofked really haro wilh the L￿alItY & Supp)rt manage￿ to understand the rating5, use Service Development Plans to review support. meet people to get their views, into our performance data to high1￿ht problems, tc) use our Service Development manager to find scluknons. In Dui last INSp￿tion. in May 24 we were informed Ihat we had all ExrEllent silent ratings. This is really positive but now we need to keep thi8 UP. Better Employmgnt B•tt8r Supwt The quslity ofthe support we offer people is very dosety linked to the qualty ofthe employment that we offer. We are very pleased to say that the quality and consislency of our support has improved in the last year. The feedback we have received from Commissioners. regulalors, people and families is Nery good. and our of under-delivery has declined. W8 must continue to pay 81 least the real liwng vrage, ar￿ rnake sure that increases to front line does not erode the extra paid to rnanager to takg on 8ddibo)nal responsibility. However OV￿ the last year regarding our staff team there are positives and negatives Between April 2023 and Sèptefnber 2024 our recruitment levels have imrwved by 1Yd. However during Ihis the number of our staff who are off sick in any rnonth ha5 increased by 2% and has veraged about 5.5Yi over the year. Our use ol agency staff has ￿￿Ced by 3% over last year lo 0.6% a week.whI￿ this reductts)n ha5 placed further pressure on teams, we had lo dts this to have sJffiTrent money to fund the REal Liwng Wage pay award in April 24. This is be&3use none of oui commissioner5 gave a suffioent uphft to make this neossary pay award. WÉ h8vè aorÉed 8 framèwork to Improvè our empltymèrbt wth our Staff S￿1 M*wJèrs Forum. This Includes". A new Lea Support Worker Gradè that will be available tr) slaff who arè workin￿ their Health and &xial Care Level 3 qualification. A new Irsmework lor management deve1i)pwn￿t lor staff who wanl to moveinto Suprmxt Managemènt A new syslem lor paymenls and InC￿lIveS lo encouragts slaff lo wortt in ser¥￿e$ Ihal are under greater pressu￿, our hope is that this will enable tyjc own staff to take up shifts Ihal we oJ(renlly have to give lo Agency slaff. Thas8 werè dèlayed whilè wè wèrè working to fuThl Ihè LiviThJ Wag8 uplift, however Th)w thi% is res0￿ed this can b6 put into place between October and Apnl this y&ar The W￿eSIreaM App was lit￿luced in January 24 to help staff get better access to interest borrowing, financial support trainiTh) lo help th8m manage theii money nK)re effectivdy. This Is leadi￿ If) a broader plan ¢allod Good Ern￿OYMent and &pport %thi¢h is ctsntsined within our now Organisallonal development plan. We will be wcfking wth the slaff and managerfs forums to inwement Ihis over the coming year. A well manayd oryanlsatlon strengtheni1￿ oiganisalional finances We have ￿¢rUited a new Head of Business & Finance to wcrfk wtb ovr Chief Finanoal Officer. Our fina￿la1 performar￿e has improved liquidity and we have cash reserves m&aniThJ that if we are paid late by a Local autt)ority WÈ can manage this effectwely. We have ak%0 res(AveAI the issues ol bad dd)t Ihal were affectiw us iasl year. on setwce improvement Pa98 4 Communlty Lfves Consoruum (Reglstered number: 094423361 R•port of thé Trustèès for the Year Ended 31 Mar¢h 2024 We have recruited a new Service Development Manager to ensure that we develop policies. processes and tODIs Quickly that help to improv& (wr support. Our new Organisational Devèlopment Plan will hèlp us work togèthèr to mako (>ur org8nisation mor8 &ffgCtivÈ f￿ 8v8ryb(Kly that rdios on it. Our n8w training complianc8 database giv9$ US UP to dale information ab(Krt whether staff trave Ihe rwessary skills and training lo meel people's needs. Carbon redvcbon We are tmaking positive progress in inwlementirvj wr pla)s to the consorkn.um to becoming Cart)on Neutral by 2030 in line with the Welsh Government Net Zero plan for so￿1 Care Financial revi•w Financial position The operating suiplus for the permxl ended 31st Mèrch 2024 ar￿)UntaI to £395.230. The overall level tsf funds cairied forward into 2024125 arnounted to £681.010 of which £166.880 is restrict￿. Funding continued to be received from those local aufv)riues with whom the Consortium has a service level agreement. This income is treated as restricted based on gectyaraph￿aI gmnas. In additth the Consoriium received Supporbng People Grant from those local authorities a5 well as contributions from Ihe peop￿ we supp(Kt in Ihe form Df housing benefit and other contributions. The principal cost for the period was staff salaries and related costs. the staff provides the level of support requi￿￿ to meet the Consortium's obligations under the Se￿￿ level agreements. In addition, the Con50rtiurn meet5 the cost of accommodation on behalf of the people we support, including rent,housing assoriations tnanagemenl chaiges and other hoUsekee￿ng costs. Reserves policy The resErves policy ol the Consortium recognises Ihe need to hold ￿rVeS to ensure funds a￿ aVaila￿e to pfomde continuing SUPFX)rt lo people with disabilities should the income levels fall. A minimum levd of reserves nepds tD be retained to ensure thp trustees operat8 il individual projects are k)5t to ensure the remaining prDjecls can supp(wt indiieet overheads. In addition, reserves are r&quired to meet legal and olher statutory commitmerbts should the Corb501tium be unable to wntinue due to a lack of a sustainable income stream. Resewves are also requiiecal govemment funding may lead lo a rev*w ol ojrrent grant levds. The Consortium rècorded an incrèase In Its unreskncted funds of £139.230. overall toi81 fvnds showing 8 nèt assèt positi()n ol £681,010 al the year end. Thts reflects the operati￿al acliwbes for the year wh￿h saw a surplus of £395,230 olfsel by an actuarial loss. SHPS are now a￿e lo prtsvide CLC iwth the actual cosl of ihe past service deficit debl under FRS102 in ￿latiOn lo the dosed D8lined Esnèfit sch6me that opemted in th& past. The indusK>n ol this liability has 8 nègalive imwt of £256,000 on Ihe rèserves. The trustees are ¢ommittad io maintsiniro Cutreni se￿1¢* levels for as long as Ihe funding pemrts,and will review the levels ol reserves required regularly on a quarterly basis. when the quartedy managemenl accounts are presented. Pa98 5 Communlty Lfves Consoruum (Reglstered number: 094423361 R•port of thé Trustèès for the Year Ended 31 March 2024 Strat•gle report Plans for future pèrlod$ We have put in place a new Organisalional develtyment Plan. This ￿an is de[iv￿j frorn our shared purwse Ic) Support people Its 1Sve The Ilfe they choose and deslgn prlnclples-. We only do what matters to, and for. the people WÈ support. We will help pets￿ to contr(A their lives arKI wiyk We will focus on creating the best resource5 for the peotAe that we serve. We will work together to be effective arKI to use all of Ihe thing5 we have, induding our Staff, carefully 50 that they do the most good We will not break law. but we may d)allenge it so that we do most wd. Using these principles. oui piocesses of tx)nsultatK)n and engagement wth the people we supw)rt. theii actively involved farnily members, our staff and monager¥. ond other stakeholders such as commiwiner5. regulators ￿ community partners, and our framewod( ol performance inlormation. We explore what is working and not working and Ihen agree actvjns Ihat will help us to maximise the achievement of our purpose for everybDdy that we suP￿rt The resumant ackn'ons and developments necessaryare arraryd in our Organisat￿nal development plan into 7 development areas.. The RespcK)sible Individual& priority actions These are the key sh(xt action5 to maxitnise outLx>mes fL¥ individua15 and ensure we are rneeting oui contractual ar￿ regulatory responsibilities. Being Outcome Focus8d These are actions to improve how we help to maximi%e the wenbeing of Ihe people we support. Being User-ledThese are action5 to etbsuie peoplp maxiMi5e their CDntrol of our gjvetnance processes. GooKJ employmerbt and support These are 8etion5 that maxirnise OLr a￿"lity to recrurt and maintain a (x)nfKlent, and [x)S￿"v? w(xkt(xce that rneetS the needs of the people we serve. Strong and helpful communities These are actions that help the peO￿e we to be an &tive part ofwelcc*niThJ indust¥p communities around them. Sharing practice and adding valuè Thesè are 8ctlOn5 that us to share t*st practieE èffedively wth organisations ar(xJnd us. Being well4un These are aclions Ihat help the organisabon to be resp￿S1¥e aThJ suslainable wilh Ihe rescmjrces availabk lo It. These actions are documènted In an orFlv)e accessible (hganisatM)nal Development Plan available to company slakehdders and accessible through conlacl through inlo@communilylives. Structur&, govérnance and managwnent Govèmlng document The phariiy is conlrolled by its g)veming document. a deed of bust, and ¢onsb"tutsS a kmited ¢ver (Aher information and, exn$ on mattws pr•s¢ribed ¢h• Ctynpanles 2006 In w opinion, based on the work uThJertaken in the course ol ihe audit= the information given in the Report of the Tnjslees lor lie finanaal year for which the financial statements are prepared is consistènt with thè financial slatem6nts" and thè Rèport ofthè Trusi88s has bèèn preparèd in accordanc8 aprAirabla kgal rèqijiréments. Mattèrs on whlch we are requlred to report by excepdon In the light ol Ihe knowledge and understanding of the charitsble company and its anvironment oblained in th8 course of the audit, w8 hava not idsntff￿￿ matarial misstatèments in the R8w>rt of thè Trusteès. We have nothing to report in respect of fdl¢Mng matter5 where the Companies Ad 2006 iequires us to Teport to you if, in OLJr opinion.. adequate accounti1￿ records have been kept or retuins adequate for our audit have not been received from branches not visited by us., or financial statements are rK)t in agree￿nI wth the ac¢ounting r￿d$ and ietums., or cthain disclosures of trustees, remuneration specified by law are not Made: or we have nct received all the information and eXpk)naty.￿S ole require for our audil. Pag& 10 Repthl of the Independent Audltors to the MeM￿rS of Communty Llves Consortium Responslbllltles of trustees As explained more fully in th6 Stalement of Trustees, Responsibilities. the tfttstees Iwho are also the directors of the charitablè company for th8 purposes of company lawl ara reswnsitAe for the p*paratioTh of thè financial slatemènts and for being satisfièd that Ihey giv$ a tm¢ and fair vi¢w, and for suth intemal control &* th& trust8es d&temine 1$ wessary to gnablg the preparation of finanGial ststements Ihal are free from material MisstrtemenL whetherdue to fraud or error. In preparing the financial staterrEnts, the trustees are reS￿nsi￿e for assessing the Charitab￿ companvs ability to continue as a going concern, disclosing, as applicable, matters related to %X)ing concem and using the going concern basis of accounting unless the tiust¢es either intend to liquidate the charilable company or to ¢easÈ i¥)etatK)ns, or have no realistic alt¢inativ¢ but to do su. Our re5por15ibilities for the audit of the finarKial statements Our objectives are to obtain reasonable assuran￿ about whelher the finanaal statements as a whde are free from material misstatement, whether due to fraud or error: and to issue a Rep(rt of the Inde￿ndent AudrfLors that indudes our opinion. Reasonable assuiance is a high level of assurance. tmrt is rK)t a guarantee that an audit conducted in aca)rdance with ISAS IUKI will always detect a matetial misstatement when rt exists_ Mi5Staternents Gqn arise frotn Iiaud or etror arKI are considered tnaterial if, individu8lly or in the oggregats. they could reasonably be expected to influence the economic decision5 of usets taken on the basis of these financial statements. The exient to which our pr(￿lureS are (wable of deteding Irregukrib"es. induding fraLKJ is detailed below.. Our planning procedures identify the legal and regulatory frameworks applKaLle to the operations and financial statements of the company. These are reviewed internally vAth the audit team indudirKJ relevant industry eXperier￿e and expectations as well as externally with the client management. The key laws and wulations we considered in this context were the UK Companie5 Act 2006, Charities SORP I FRS 1021 'Acc(yJnting and Reportng by chant￿5..sIaterne￿t of Recotnmended Practice applicablE tD charities preparing their accounts in accoidance the Finanaal Rewjrbng Standard Applitzble in the UK and RepU￿1C of Ireland,, UK GAAP IFRS 1021 and relevant tax I8g1￿￿tIon. Once identified, we as*ss the rtsks ol malenal mi55talements in reL2titin to the laws arKI regulations. i[￿gularItIes, including Iraud and adjust our lesting accordingly. Our audrt proKeOJres indude." Discussirig with Trustee5 and managernent which areas of Ihe bugness they believe to be r￿re susceptible to fraud, and whether Ihey have any knowledge or suspioon of traLwJulent activities Obtaining an understanding of the key controls put In pla￿ by the charttable compaThi to address nsks identffied. aSses￿ng the effectiveness of those and discus%ing how th￿e are wnaintairEd a￿d monrtored Internally Assessing the risk of m8rwement override and rewew testing of joumal entri85 made into the ac(x)unting Syslem Challenging assumplions and judgements made by the tharitable company in ￿lat￿)n to Ihe styjnificanl ￿￿￿ntIng estimates employed in the preparab.on ol the financial slatements Diseussing with Tmstees and management the legal arKJ regulatory obligati.ons of the Charitab￿ (x)mpany and whèthèr they havè any knowWJe or susrxuon of non compliancè Despite the audil being planned and conducled in accordance wth ISAS IUKI Ihere ￿MaInS an unavoidable risk Ihal material misstatements in the financial slatemenls may nol be delejed owing lo inherenl limitab.ons of the audil, and Ihal by their very nature, any such Inst8nc8s of fraud or irregulariles likely involve cdlusion. forgery, intentional misr8presènlation, or the ovèrride ol intsmal contrds. A further descriplion of our reswnsibilities for the audit ol tre finan(ial sialements is located on the Financial Repcrting Council's websile al www.frc.cKg.ukJaudilorsresponsibilities. This desuiption fornis part of our Rep￿ of the Independent Auditors. Pag& 11 Repthl of the Independent Audltors to the MeM￿rS of Communty Llves Consortium Use ol our report This report is made solety to the charitable companYs members. as a body. in accordance wth Chapter 3 of Part 16 of the Companiès Act 2006. Our aLJdit work has beèn urK16rtaken so that wè might statè to thè charilablè company's members thosè matters we are rsouired to stat? to thom in an auditors. rèrK*t and for no othgr purrx)s¢. To tha fullèst extant p8rmittgd by law, w& do rK)l accept or assume responsibility to anyone other Ihan the thantable cornpany and the charitsblo ciThpany's members as a body, for our audlt worK for ihls re￿. or for the o￿nIOnS we have forme(l. Victsxia Carter ISenN)I Ststut(xy Auditor) for and on behalf of Haines Watts Wales LLP, Statulory Audrfors 7 Neptune Court Vanguard Way ardrff CF24 5PJ 19 December 2024 Pag& 12 Communlty Llves Consortlum Statèmèrtt of Fifianelal Actlvltlès {In￿rporating an Income and E¥pendityre A¢¢ountl for Ihe Year Ended 31 March 2024 2024 Total lund$ 2023 Total fund$ llnrestri￿0d funts Rostrlet¢d funds Incomè and endowmants from Charitablè attivitiès Supported living 15,465.988 15,465,988 14,Ct30,604 Expendlture on Charitable acliviti•s Supported living 15.070.758 15.070.758 13.846,813 NET INCOME 395,230 39S,230 183,791 Other recogn15ed gains111055e5) Gainslllossesl on revaluation of fixed assets Actuarial gainslllossèsl on d8fined bènefit schemes Net movernènt in fund5 1131,2931 256.1X)O 139.230 256,0001 139,230 207,0001 1154,5021 Reconciliation of funds Total funds brought lo￿ard 374.￿1 166.880 541.780 696,282 Tatsl fund$ carrl•d fonNard 166.880 681.Q10 The notes fomi part of these financial statements Pag& 13 Communlty Lfves Consoruum (Reglstered number: 094423361 Balancè ShÈÈt 31 March 2024 2024 Total fvnd$ 2023 Totsl funds Unr•strictod funds Rèstrlet•d fund$ Flxed assets Tangible assets 501.000 501.000 497,235 curwnt a$$•ts Debtots Caskn at bank 1,104.298 576.666 1.&80.964 1,104.298 743 1.841.844 648,001 le6.880 166.880 1,309.390 CroditOTS Amounts falling due wthin one year 10 {1.085.0441 11.085.044) 1745,4371 Net current assets 595.920 166.880 762.800 563,953 Total assets less current liabillies 1,(YJ6,920 166.880 1,263,800 1,061,188 Craditors Arnounts falling due after more than one year I17,7￿) 117.7901 131,4081 Provlslons for Ilabllltl•s 14 1565.0001 1565.000) 1488,0001 NET ASSETSIILIABIUTIESI Funds Unrestrided funds Restrided funds Total funds 514.130 166,880 681,010 $41,780 15 514,130 166,880 681,010 374,￿0 166.880 S41,780 The financial statements were approved by Ihe B08r(l of Truslees 8fKI authorwj lor issue on 11 De¢ember 2024 and were 5vJned on its behalf by- Mr S H Harper- Trustee The notes fomi part of these financial statements Pag& 14 Communlty Llves Consortlum Cash Flow Statèm•nt for the Year Ended 31 March 2024 2024 2023 Notès Cash fl¢)w$ from 9￿ratIng a¢¢lvttle Cash generated from operaiions Interest paid Net cash provided by Operati￿ actwitEs 123.407 500,580 118.095 493 888 Cash flows from Investlng activitles Purchase of t3nglble flxed assets Sale of tsn9ibk fixed assets Net cash lused inyprovided ty inVes￿ng actiwties {16.0131 6.876 15,4951 6,570 Cash flows from flnanclng actlvttlos Loan repayfflents in year Net cash used in financing activib.es 28.801 26.801 31.0021 31,0021 Change In cash and cash equlvalents in the reporting period Cash and cash equlvalents at Ihg bèginning of thè rèporting pèriod Cash and cash equivalents at the end the reportlng perlod 82,157 463,961 661,389 197.428 743.546 661.389 The notes fomi part of these financial statements Pag& 15 Communlty Llves Consortlum Notès to t￿ Cash Flew Statèmènt for the Year Ended 31 Mar¢h 2024 R•conclllatlon of not Incom• to ngt cash flow from O￿TatIng actfvltles 2024 2023 Net Income for t￿ reportlng pgrlod las per the Statement ot Flnan¢lal ActiVi￿e$) Adjustments for. Depreciation charges Profit on disposal of fixed assets Interest paid Ilncreaseydecrease in debLor5 Increase in creditors Difference beiween pension charge and cash cThilribJlions Net cash provided by operatlons 395,230 183.791 11.615 16,2431 5,312 1456.2971 352.19D 179.DQDI 123 4C17 14.157 14.6431 6.692 392.437 86.146 178.0001 500 580 Analysls of changes In net funds At 1.4.23 Cash flow At 31.3.24 Net ¢ash Cash at bank 82,157 82.157 743.546 743,546 661.389 Debt Oebts falling due wthin 1 year Dabts falling dug after 1 year 127,170} 31408} 58.5781 13,183 113,9871 17.7901 317771 711769 26.801 108958 Total The notes fomi part of these financial statements Pag& 16 Communlty Llves Consortlum Notès to thè Finandal Statèmènts for the Year Ended 31 March 2024 Accountlng pollcl•s Ba$1$ ol prèparlny th• ffinaneial s1atèm￿ts The finanGial statements ol the charilable company. whith is a public benefit enlily under FRS 102, have been propared in accordance wllh the Charlues SORP IFRS 1021 'Accouniing and Reponing ty Chadlles.. Statement of Recommende Practice applicable to charities preparing t￿1r ￿cO￿ts in accordan￿ wth the Financial Reporting Stsndard applicable in the UK and Republic ol Ireland IFRS 1021 {effective 1 January 20191,. Financial Repthtng Standard 102 'The Fin8ncial Reporting Stsndard appkable in the UK and Republic of IrelJnd' and the CompanTres Act 2006. The finan¢ial statements have been pre￿[¢d under the his1M¢al cost wwerhtiw. as rrKxJtfied by the revaluation of Gertain assets. Community Lives Consorhum is 8 charitable ￿panY in Ihe Uniled Kingdom. The nature of the charity's operations and principal activities ace the prowsion of or assistance with ￿Jp￿￿ed livirrfJ. The significant accounl'ng policE5 applied in the prepaiab.on of these financial statements are set out below. These pdicies heve been consistently applied to all years &￿eSented unle55 otherwise stated. Ib7come All income 15 iectYJlli5ed in the Stalernent d Finanaal Acbvities or￿e tharity ha5 enlitlBment to the fund& it is ptobable that incomewill be rKeived alld the amount (xn be measured reliably. Housing benefit claimed on behawof all SeThI￿ users is ac£ounted for cn a receivable basts. Grants and 5etvice level agreements to support the provision of care ale accounted for in the financial year to which they relate. Grants recewed to fina[￿ the cost of fixed a￿et are recognised a5 restrided furK15 and used to finance the annual d8prgciation charg8. Investment income comwses bank deposrt interest received. Expènditure Liabilities are recognised as expenditure as as there is a legal or construclrrfe obligalion commitbng the charity to that expenditure, il is probable that a Iransfer of economic be￿rItS will be required in settlement and Ihe amount of the obligation can be measured ieliably. Expenditure Is accounted lot on an accruals basi5 and ha5 been classified under headings that aggregate all cosl related to the cat￿tsry. Where costs cannot be diiecuy attnbuteij to particular headings they have beefi allcrsted to activiles on a ba￿S (x)nslStent the use of resour(Es. Irrecoverable VAT is charged againsl the caleg)ry o[resou￿S expended for whth it was incurred. Goveinancè costs Govèmancè cosls ineludè costs ol thè prèpara￿.th and examinatK)n of thè statutory aC￿nts. the costs of irustèè meetiThJs and It￿ ¢ost tsf any legal advi￿ to trus1￿ on goveman(* or (X)nststut￿rn1 Matt￿$. Support costs SLJPPOrt costs includè eentral functions and have been allocated to actiwty cosl Cal￿or1*S on a basis consistent with thè use ol rasourcès, for exanp￿, all(K2ting property Wsts by ffl(x)r aréas. or (xprta, stsff costs by timè spènt and othar c()sts by their usage. TangSble fixed assets Deprèciation is provided at the fdlowing annual rates in cwder to ￿lle off èach asset OV8r its estimated useful lrfè. Freehold propety Fixtures and fittitwjs Motor vehicles 1.5% on cost 15°A m cost 20% (*) cost Fixed a$sets with a valve in excess of £1.000 are inilally tec(Mded at c(tst. Freehold property is carried at a ￿valUed wncxjnt. being its f?4r value al the date of latest revaluation less any subsequent accurnulated depreaation and subsequent accumulèted impaimient losses. F￿IKtr1d property revaluations are detaI￿d in note 8. Page 17 continLJ8d... Communlty Llves Consortlum Notès to thè Finaneial Statémènts- eontintsgd for the Year Ended 31 March 2024 Accountlng pollcl•s- cOn￿nU&d Taxadon The charity is ￿ exetnpt charity wthin the meaning of scheijuk 3 of Ihe Charibes Act 2011 and is considered lo pass the iests set out In Paragraph 1 Schedule 6 Flnance Aci 2010 aThJ therefore li meets the clefinlllon of a charltable company for UK corporation tsx purposes. Fund a¢eauntlng UnTestrided ftjnds can be used in acwtilarre wtth ts d￿ri￿ble d4eGtwes at1he dixtetion ol the trustees. Restricted funds can only be used lor partioJLar restitted purF¢)ses ¥wlhin the cbpcts of the charity. ReStriC￿n$ arise when speufied by the donor or when funds are raised for part￿L¥ restricted purposes. Futther explan8tK)n of the nature and putWJ5e of eath fur￿ is K￿luded in the notes to the finarKxal statements. P•nsion costs and other postar•tir•ment benoffts The CharrfLy operates a definerted Imng SupkK)rted Ilvlng Supw)rted living Supw)rted living Supw>rted INing SuptK>rted Imng SSDD Gharyes ILF Housing benefit Swansea Community Care NPT Community Care Swansea Bay UHB Covid-19 grants and additional income Kirklees Communty Care Other Income 598,159 18,773 2,186,680 5,628,961 4.617,739 2.218,602 619,161 1,994.314 5,015,9D 4,224,23CI 1.375,4D3 &JppDrted INing Supw)rted living SuptK>rted INing 613,851 41,518 155,SS6 15465988 187,745 14.030.6D4 Charltablg actlvltles costs Support costs (sè• rK>t8 41 Dlr•et Costs Totals Supported living 13.362.034 1.708.724 15070758 Support ¢o¥t$ Governan¢o costs Managemant Totals Supported living 20 235 1 708 724 Net i￿OMe1(0xP8nd1tu1¢I Net in¢orne]{exp8nditurej is stated after chargingllcreditingl- 2024 2023 Auditors, remuneration Depreciation - owr￿d assets Surplus on disrKJsal of fixed asset5 16.771 11.D37 35.523 14.159 Trust••s' r•mun8ration and ￿n¥fits There were no trustees. remunerabon or other benefits for the year en(￿ 31 March 2024 nor for the year ended 31 March 2023. Page 19 continLJ8d... Communlty Llves Consortlum Notès to thè Finaneial Statémènts- eontintsgd for the Year Ended 31 March 2024 Trust•es' remunoratlon and b•n•ffts- conlnu8d Trustees. •xpen$ts The charlty Incurred AGM expenses roialllng £3.464 kn the yew12023= £nlll. There are no other relateAI party transactioN8 to discb)se. Staff costs 2024 2023 Wages and salaries Social security (x)sts Other pension costs 11,152,181 899,342 195.914 12 247437 10,407.585 86S,573 127.271 11 400429 The average monthty number of em￿oYeeS duritwJ year was as frAIo•ts'. 2024 2023 391 13 41)4 Operational staff Administrative staff 14 413 The number of employees wlw emKAoyee benefrts lexdLMling employer pension costs) exceeded £60,000 was: 2024 2023 £60,001- £70.000 £70,001- £80.C Ovring the year, Comrnunity LNes Consortium paid key management emoluments totalling £171,50512023'. £138.4401. Key management are considered to be 3 individuals during the year {2023 21 who directly irnpact upon the strategic direction of the chanty. Page 20 continLJ8d... Communlty Llves Consortlum Notès to thè Finaneial Statémènts- eontintsgd for the Year Ended 31 March 2024 Tanglbl• flx•d assets Flxturns and fittings Fr••hold property Motor vehlde$ Total$ Cost or valuatk)n At 1 April 2023 Additions Disposals At 31 March 2024 Depr￿latIOn At 1 April 2023 Charge foi year Eliminated on disposal At 31 Marcli 2024 Net book value At 31 March 2024 At 31 March 2023 567,791 83016 33,184 16,013 7.8(M)I 41.597 683,991 16.013 567.791 63018 692.404 83016 26.441 2.520 187.334 11.037 8.517 86.394 83018 191 404 481 397 489.914 501 000 496 657 Cosi or valuaiicm) 3131 March 2024 Is r&pres8nt8d by.. Flxtu and ffttings Freehold property Motor vehlcles Totals Valuation in 2023 Cost {186.228) 754.019 567.791 1186.2281 878.632 692.4D4 83016 83.016 41,S97 41597 Débtors: amounts falllng du• wlthln one y￿r 2024 2023 Trade debtors Otherdeblors 1.064.765 39.533 1 104298 326,007 321.994 Page 21 continLJ8d... Communlty Llves Consortlum Notès to thè Finaneial Statémènts- eontintsgd for the Year Ended 31 March 2024 10. Crèdltors: amounts falllng du• wlthln one y•ar 2024 2023 Barhk bans and overdrafts (see n(rte 121 Trade cre¢Jiiors Social security and other laxes Othercreditors A¢crued expenses 13.987 62,144 295,D3 414,993 298,8gCI 27,170 83,506 219.773 311.231 103,757 745.437 Defer￿￿ income brought forward Amounts released to incoming resources Amounts deferred in year Deferfftd income carried fimward 229,188 1229,1881 425,855 425 855 259,976 1259,9761 229,188 229188 11. Credltors: amounts fallSng due after more than one year 2024 2023 Bank kians Is¢è note 121 12. Loans An analysis of the maturity of kFan5 is given below. 2024 2023 Amunts falling dutr within tsne yeai on demand.. Barbk bans Amounts falling be￿en one and wo years.. Barbk k>ans- 1-2 years Amunts falling due between two and fNe yea Bank bans- 2-5 years 13.987 13.987 13. Secured debts The fdlowing sècurad debts are ir￿￿d8{j within creditors: 2024 2023 Bank kian5 The bank loans are secured over lh8 follow￿g- Debentu￿ on the banks standard fonn dat￿ 1610412023. Charge over 23 and 24 Walter Road Swan%a SA1 on the banks Standard f(xm daleo 2810412011. Charge over 23 &24 Walter Road Swansea SA1 SNN on the banks starKJard fotrn dated 1610412013. 4 item5lsl of security. Debenture on the banks standard form dat&l 11103m11_ Page 22 continLJ8d... Communlty Llves Consortlum Notès to thè Finaneial Statémènts- eontintsgd for the Year Ended 31 March 2024 14. Provlslons for Ilablllt￿s 2024 2023 Perhsion Deficit Liability $65.DLIO 488 000 2024 2023 Balance brovght f￿artal contribution rate no Imger aPpI￿s. The actuarial valuabon assesses wttelher the Stheme's assels al Ihe valuation date are likely to be suffic*nl lo pay the pension benefits accrued by members as at the valuation dale. Asset values are calculated by reference to market levels. Aeejued pènsion bènéfiis are valued by discounting èxpecied luture benefit paymènts using a di$￿Unt rate calculatèd by leren¢e to the expected futu￿ investment retums. During the accounb.ng Feriod Community Lives Consoriium paid contritrwJts"ons at the rate of 7.25% to 11.5% member contributions varièd ￿t￿￿ern 6.75°A and 7.9% . The ¢harity made an annual COniribuDon Of£2(￿.[￿K}towar￿s the past service defi(ii ihe year. In accordance with FRS102 rewrting requirements the Charity is required to disdose certain informatiix) concerning assets, Ik?lilits'ès, incomè and èxpsnditure in relation to the pension sd)eme. Pros•ntatSon ¥alu¢$ of Defined 8￿*￿1 Obllgatiorn falr valuo of asstt$ and Defin¢d B*n¢fit Asset Illablityl 31 March 31 March 2D24 2023 Fair value of plan assets Present value ol defined benefit obligation SLJrplusllDeficitl in plan Unrecognised surplus Defined benefit asset (li￿lIty) to be recA)gnised 3,642 4,207 15651 3.686 4.174 1488 15651 14881 Page 25 continLJ8d... Communlty Llves Consortlum Notès to thè Finaneial Statémènts- eontintsgd for the Year Ended 31 March 2024 19. Soclal houslng pènslon scheme- contlnu8d Re¢on¢41iatlon of the Impa¢t of the asset¢elllng 31 March 2024 Impact of asset ceiling at start ol year Effect of the asset ceiling included in net interest cost AGtuaiial losses19ainsl on asset ￿111￿9 Impacl ol asset ceiling at end of Reconciliation of opening and c105ing balances ol th8 defined benefft obligatio 31 March 2024 Defined benefit obligation at start ol peritij cur￿￿t service cost Expenses Interest Expense Corrtributions by plan participants Actuaiial losses Igainsl due to scheme experien Actuarial losse5 Igainsl due to change5 in detnographic assumpb.ons Actuarial losses (gains due to change5 in assumptions Benefrts paid and expenses Liabilities acquired in a business wmbination Liabilities extinguished on seitlements Losses Igainsl on ojrtailtnents Losses Igain51 due to bernefit changes EXch￿ge rate differences DéfinÉd bènefit obliuation at end of penod 4.174 212 29 1481 40 12061 4,207 Reconeiliation of opening and Closing balancès of the fairvalue of plan assèts 31 Mar¢h 2024 Fair value of plan assets at start ol pe￿d Interest Income Expariènca on plan assets lexduding amou)ts 1ndlld￿ in inl*rèst inciNnèl- 9ain Ik>ssl Contributions by the employer Contributions by plan participants Banèfrts paid and èxpanses Assèts acquired in a businéss combinatK)n Ass9ts distribuled on setllemenls Exch¥o& rate changes Fair value of plan assets at etMI of period 3.686 191 12351 206 1206 3.642 Th¢ actual cetum on the tAan assets linduding any thanges in share ol assets) over the period ended 31 March 2024 was 1£44,(K)01 D•fln•d b•nefft costs rècognls8d In stalwM•nt of financlal actlvltl•s- Net Income and expendltur• 31 March 2024 Cuirent Service cost Page 26 continLJ8d... Communlty Llves Consortlum Notès to thè Finaneial Statémènts- eontintsgd for the Year Ended 31 March 2024 19. Soclal houslng pènslon scheme- contlnu8d Expenses Net inlerest Expense Losses Igalnsl on buslness comblnattons Losses Igainsl on setuements Losses Igainsl on curtailments Losses Igainsl due to bernefit changes Defined benefit costs iecognised in statement of financial adiMI 21 27 Dafin•d b8n•frt costs r•cognis8d in stal•m•nt of financial activities- Actuarial Gainslllossèsl 31 March 2024 Experience ￿ plan assets lexduding IndUd￿ in netinterest Ix)st)- gain 1105sI Experience gains and losses arising on the plan liabl1t￿- gain Ilossl Effects of changes in the derYK>graph￿ assumptN)ns urK1erlying the present value of the defined benefit obligat￿n gain110ssI Effects of changes in the finanaal assutnp1￿s underfying Ihe present value of tt defined benefit oblig8tion- gain 110ssI Total actuarial gains and losses (before reslrict*)n due lo some of the surplus not being recongisablel- gaiTh Ilossl Effects of changes in the amount of surplu5 Ihat is rKrt recOverat￿e lexduding amounts included in net interest costl- gain {lossl TL)tal amount r8cognis8d in Actuaiial gainsljknss851 12351 1291 48 1401 12561 12561 Assets 31 March 2024 31 March 2023 Global Equity Absolute Return Dislressed Opp)rlunities Credit Relatjvo Valu ternaiive Risk Premia Fund of Hedge Funds Emerying Markels Debt Risk ShariNJ Insuran￿ Linked Securilies Propety Infrastrucknre Private Equity Private Debt Opportunistic liquid Credit High Yield Opportunistic Credit Cash COrp￿ate Bond Fund quid c￿dit Long Lease Property Secured Income ability Driven Investment Currency Hedging Net Current Assets Totsl assets 363 142 128 119 116 69 40 112 139 47 213 19 146 368 20 271 93 159 421 143 142 164 158 13 72 27 24 109 1,482 111 169 1.697 3.642 3.686 None of the fair values ol the assels shown above include any direct inveslments ITh the employerfs own financial instruments or any propety occupied by, or other assets used by. the employer. Key Assumptions Page 27 continLJ8d... Communlty Llves Consortlum Notès to thè Finaneial Statémènts- eontintsgd for the Year Ended 31 March 2024 19. Soclal houslng pènslon scheme- contlnu8d 31 Ma￿h 2024 31 March 2023 % per annum % per annum Discount rate Inflation IRPII Inflation ICPII Salary GrL)wUI 5.19 2.87 2.47 5.18 2.80 3.DO 750A of maximum allowar￿& 75% 01 maximum allowance lowance for commulatif￿ of pension for cash al ￿brerne￿t Th8 mortality assumptiolls adopted 81 31 Marth 2024 imply the folkhwng life exp8Ctancies'. Lt expectancy at age 65 Yèars Malè ffttiring In 2024 Fema￿ retiring in 2024 Male ￿tiring In 2044 Femak retiring in 2044 20.5 23.0 21.8 24.4 Community Livo5 Consortlum a150 participates in the Pensions Truses Growth Plan The Growth Plan is a mulli*mployer pension Pkn which is In mosl respects a money purchase arrangement bul it has somè guaranteès. Contributions paid into the Growth Plan up to and inJuding September 2001 wer6 convertèd to definèd amounts ol pènsion payable from Normal Rétirèm6nt Datè. From Octobèi 2001 contributions invèst8d in pèrsonal fLJnds whieh havè a Capit81 guarante& anij whi¢h are c￿¥￿rted lo pension on rttirtrment, èither within thg Growth Plan or by th8 PLirchase of an annuity. Th8 Plan is fundad and is not contracted out of the state schane. The mlès of thè Growth Plan allow for thè dedaration of bonuses and l or investment credits if this is within the ffinanoal (%pacity of the Plan assessed ￿ a prudent basis. Bonuses l investment ciedits are not guaranteed are declared at Ihe discretion ol the Plan Trustees The Trustee commissions an actuarial valuation of the Growth Plan every 3 years. The main purpose of the valvation is to determine the financial ptisiti1￿ of the Plan and so detemiine the future prospecis for discreticnary bonuses and l or investment credits. The actuarial valuation ass&ssÈs whethei the Plan's assets at the valuakn.on date are likely to be sufficient to pay tho pension benefits accrued by tnefflbe15 as at the valLation dale. A%5et values are calculated by ieference to tnaikel levels. Accfued pensiorh benefrts are valued by discounting expected future I￿nefit payTnents u%ng a discount rate calculatod by reference to the expected future investment retums. Community Lives Consortium offers the Gtowth Aan as an AVC investment option for members of the Social Housing Pension Scherne. The member5 pay contribution5 at a rate of their The (Kgarbisation does rK>t pay any contributions to the Growth Flon. Pagè 28 This document was delivered using electronic communications and authenticated in accordance with the registrar's rules relating to electronic forni, authentication and manner of delivery under section 1072 of the Companies Act 2006.