REGISTERED COMPANY NUMBER.. 09437405 (England and Wales) REGISTERED CHARITY NUMBER- 1162083 Care & Repair Cardiff and the Vale Gofal a Thrwsio Caerdydd a'r Fro Care & Repair Cardiff and the Vale Group Report of the Trustees and Consolidated Financial Statements for the Year Ended 31 March 2025
Care & Repair Cardiff And The Vale Contents of the Consolidated Financial Statements for the Year Ended 31 March 2025 Page Chairperson's Report 1102 Group Report of the Trustee5 3to14 Report of the Independent Auditors 15to 17 Consolid818d Slaloment of Financial Activities 18 Consolidated Balanoe Sheet 19 Consolidated Cash Flow Statement 20 Notés to th6 Consolidated Finanaal Stalemenls 21 1031
Care & Repair Cardiff And The Vale Chairperson's Report for the Year Ended 31 March 2025 As Chair ol Care & Repair Cardiff and the Vale. l arn pleased lo present this year's Annual Rewrt, marking the end of 8nolher impactlul and successful financial year. 11 is also a milestone year for us as we approach our 1 Oth 8nniversary early nexl financial year," which will mark ten year5 of unwavering commitment lo supporting older people in Cardiff and the Vale to live safely and indep8ndelllly in their own homes. I would like to expres5 my sincere thanks to our entire Board of Trustees lor their ongoing guidance and governance over the past twelve months. I would like to thsnk Vanessa Mordin who retired from the Board Sn 2024. A( our AGM in October 2024. we were delighted lo welcome two new Iruslees.. Sleffan Evans. who brings significant policy and housing expertise. and Chsnder Chadha. whose professional background and Strateg insight will be invaluable. Each new appointment strengthens our Board's abilily to guid& the organisation with wlsdom, independence, and a deep understanding of the challenges and opportunities facing our sector. A special scknowledgment must go to our staff who once again, have gone above and beyond to support their clients. Without their dedication and hard work. we would not achieve the outcomes and outputs that have helped so many citizens across Caidiff and th8 Vale. My thanks to our Chief Officer, Richard Thom8s. whose ¢alm and consistent leadership has again ensured the organisalion has remained strong Ihiough periods of uncertainty. I would also like to cornmend our senior management team., Julia Folland, Emily Laker. Craig Beckett and Rebecca Thomas, along with our trading arrn managers Craig H8mmond, Laura Jenkins and Jamie Williams. Their strategic coordination and operational delivery continue to uphold the standards of OLJr ch8rily and social enterprise. My thanks also extend to Michelle Mancini and lan Bulltsck, our staff reyesenlalives, lor ensuiing that staff voices remain central lo organisational discussions. The 2024125 linanci81 y88r was not without challenge. Wè experienced prolonged delays in the confirmation ofvilal capital funding, which placed short-term strain on fotward planr)ing and created understandable anxiety. However, these delays, while outside our control, were met with characteristic resilience and professionalism. l am pleased to report that all key funding streams were ultimately secured, including additional capital uplift, which was a clear recognition of our outcomes-focused delivery and trusted repulath)n. Despite these pressures, we rerllained operationally and financially robusl. Our teams worked tirelessly lo ensure continuity of service lo dienls throughout the year. The introduction of new capital funding enabled us to increase Qui delivery of home adaptations. furthei reducing risks of falls and hospital admissions. We a150 maintained our support to vulnerable clients through benevolent and hardship funding. including 1850uroe8 from Care & Repair Cymru, the Hill Snook Fund and many more. This year also saw us continue lo Jead by example in ernploymenl practice. We beeame the first Care & Repair Agency in Wales to be accredited as a Lwing Hours Employer, reinforcing our commitment lo fair and secure working conditions for all our staff. This builds on our existing Living Wage accreditation and ensures predictable income. fair notice of shift pattems and secure contract houis. Our staff continue to show dedication, flexibility and compasslon in the support they provide. The success of our hybrid worklng model and the ongoing effectiveness of our information, advice and pracliral services teams highlight the strong culture we've fostered, one that balances innovation, wellbeing and performance. This year, I had the opportunity to accompany one of our Caseworkers on a visit to one of our dients and observed fir51h8nd the systems and processes they use. The dedicalion, professionalism and depth of knowledge shown were exceptional. This experience offers valuable insight into the frontlin8 realities of our service and wll help inform the Board's ongoing strategic direction and oversight. Internal, we have maintained a strong focus on governance. The Board has ensured our strategic leadership remains effective and responsive. The organisation ha5 also been preparing for future growth in line wilh the nowly published Care & Repair Cymru Five-year Strale9y12024-20291, which will shape our long-tem locus. Looking forward, while we have some financial slabilily, there will eontinue lo be financial and dernographic pressures beyond this comlng financial year. However, l am eonfid8nl that we are well positioned, Our charity and trading arm are aligned in theiT mission and delivery. We will continue lo deliver much need9d 8ervices, innovate further, bnd deepen p8rtneiships with slalutory and voluntary stakeholders alike. Page 31
Care & Repalr Cardlff And The Vale Chairperson's Report for the Year Ended 31 March 2025 Cardfff and the Vale remains one ol the largest and most trusted Cale & Rèpair Agencies in Wales. This is di¥ecl resull of the exceptional people who work wthin our organisalian and the values we share. 11 remains a privilege to serve as Chair. l am proud of everything we have 8¢hieved this year 8nd rernain oplirnislic for what lies ahead. I would like to once again thank everyone across the organisalion, from frontline slafl lo fellow ttustees. lor your contribution to this year's success. re rds, Jay Sears Chair & Repair Cardiff and tha Val• Page 2
Care & Repalr Cardlff And The Valtr Rèport of the TrLF$lees for thè Year Ended 31 March 2025 The Iruslees who are also directors of the charity lor the purposes ol Ihe Companies Act 20(b. present their report with the financial statements ol the charity for the year ended 31 March 2025. The trustees have adopted the provisions of AecoLJnting and Reporting by Charities.. St8temeMI of Recommended Practi applicable to tharities pieparing theiiaccoijnts in accordanc8wilh the Financial Rewrting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffe¢tive 1 January 20191. Who are we and what we do Care & Repair Cardrff and the Vale Is a charitable org8nisalicyn that exists lo support okjer people in Cardiff and the Vale of Glamorgan to live in safe, secure, warm and comfortable homes which suits them and their lives and maximises Iheir independence. We provide a number of services that help older people Complete repairs, improvements and adaptations to their homes, through the provision ol expert 8dvice, supw)rt and practical assistance. We help older people with works ranging from very small items such as the repairing of a small water leak or the installation of handrails through to major jobs such as bathr(x)m conversions or replacing a roof. Key to our success in delivering our seNices is our commitment to providing and deliver(ng holistic, pioblem-led services that are tailored according to the individual needs ol older people. Our Purpose Our charitable purpose as sel out in in the objects contained in the company's articles of association is". 'for the public benefil, the reliel of those in need by reason of age in Cardrff and the va of Glamorgan, In particular but not exclusively by the provision of housing advice and supporv Our Vision Our vision is that all older people are able to live in safe. secure. warm and comfortable homes which sults Ihem and their lives and maximises their independence. Our vision define5 how we want our organi5alion lo be seen extemally by older people, partners and funders. It is what we constantly strive lo attain and il is our reason for being, Our vlsion fts1 refleGls the PUTpc>se for which oui charity was sel up to further. Our Mission Our mission is lo support older people lo repair, adapt and maintain their homes. Our mission is what we want to accomplish. Our Value8 Our values are., Compasslon - Wè will providé servi¢es that tll8el the individusl needs of older people. We wll support and help oldei people lo resolve their problems A¢¢ount8bilily. We will lake our responsibilities seriously and be answerable lor our actions. We will be clear about what w8 can and cannot do. We will provide information and explain what we did and why Respect- We will listen to and be respactlul of the needs ol others. Wè will ask wh81 people think of our plans Excellence- We will strive to provide excellent services for older people. We will be dear about whats important and what we do. We will continuously improv8 and leain frotn our 8uccess8s and our mistakes Our values define what we sland for. they are our core rules. Our values explain the way we do what we do and what people can expect from us as a customer, a partner or as part of our team. Page 3
Care & Repair Cardiff And The Vale Group Report of the Trustees for the Year Ended 31 March 2025 Ensuring our work delivers our purpose and aims We have reviewed our aims, objectives ad 8Ctivitl8S and look8d al what we achieved and the oulcomes of our work for the year ended 31 March 2025. This review looked at the success of our key activities and the benefits they h8ve brought lo older people in Cardiff and the Vale of Glamorgan. The review h8s helped us ensure our aims, objectives and activities remained focused on our stated puipo5e. We have referred lo the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our futLire activities. The focus of our work Our objectives forthe year revolved around supporting older people in Cardiff and the Vale of Glarnorgan to live independenlly in safe. secure, warm and comfortable homes. To meet these objectives. we piovided a range ol services that supported and helped older people to compl&te repairs, improvements and adaptations to their homes. During 2024r25 the charily also continued to develop ils soaal enterprise trading subsidiary, Care 8 Repair Home Improvement Services Ltd {C&RHISI. C&RHIS exists to provide a range of high quality building works lo support the work of Care & Repair Cardiff and the Vale and help the charity lo 8thièv8 Ils vision a8 well as to diversify its income stream. How our activities dellver public bènefit Our main activities and who we try lo h81p are described below. All our ohariiable activities focus on supporting older people lo live independenlty in safe, secure, warm and comfortable homes and are undertaken to further our ¢hatilable purposes for the public benefit. Obje¢tive8 and aims Who used and benèfited from our services Our obj8Cts limit the services we can provide lo those older people living in Cardift and the Vale of Glamorgan. In Cardiff and the Vale ol Glamorgan, many ohjer people live in properties that are in disrepair requiring basic andlor urgent repair. Furthermore, many dwellings contain polentl81 risks lo health and wellbeing ol older peop, particularW risks from excessive cold or falls. Old81 p8ople are a very diverse group and their requirements are not homogenous. Their needs can be varied and cornplex. However, the vast majority of older people stale they want lo remaln living indepondenlly within their own homes lor as long as possible. In C8Tdiff and the Vale of Glarnorgan, it is estimated that there are 168,529 older people aged 50 years and over living in the region or some 34°/o of the total population {Source.' ONS CensLJS 2021 Datal. Our funding limits the number of oFder people we can help and we experience consistent high levels of demand for our servIs. As such, priority is often given based on an older person's Age, ClTcum8lances and Ihe nature of their housing issue. Older people are inlggral mornb8rs of the comrrunities in which they INe. By providing seNices that help older people to address housing issues as well as other needs, we are able to help make their home5 rnore w8rm, comfort8ble, safe and secure places lo Iwe. This in turn helps them to maintain their independence as well as helps Ihern to'stay pul. in their homes and communities. This is what older people want. Th9y do not want to move unless they absolutely have to. They want to remain in their homes and in the communities in which they live lor as long as possible. The main areas of our tharftable actlvlties are the provision of our casewoTk and technical service and our practi1 services. These adivilies ale described below, Page S
Care & Repair Cardiff And The Vala Group Report of the Truste&s for the Year Ended 31 March 2025 Casework and Technlcal Service The caseworf( and technical serviee piovide5 expert advice, information and support lo oldei people to help them complete repairs. improvements and adaplalions to their properties. Funded prim31ily by the Welsh Goverllrnenl Home Improvernent Agencies Programme grant, Managing Belter grant and Older not Colder grant the seNice employed 20 full time and part lime staff during the periLxl 1 April 2024 to 31 March 2025. The casework and technical service ¢ombinos social care relat individual assessment Ènd values linked lo dignity, care and respect, to the technical expertise required for managing building work. 11 Is a cilizen-centred and problem-led service that is based on a visit to the older perstsn's home. As Such il relates a human assessment lo a technical assessment of the lived environment, to piovide a personalised package of home improvement. The objective r8 to support the oldei person's choice lo remain living in their own hotnÈ and in their own community lor as long as they are 8ble and chose to do so. The casework and technical service can assist older people with sourcing funding for necessary works, for example from granls,108ns. trusts and charities, etc, as well as provide welfare benefits, energy efficiency and home safely advice. The service provides expert technical advice and support lo older people, for example advising on the need for and the extent of repairs, improvements and adaptations,. the potential cost of woik., assisting wih the pmvision of sehedules ol work.. undertaking tendering procedures from lists of appToved builders,. providing clerk of works service, site visits and inspections and offering advice on completion. We involve beneficiaries directly in the delivery of the service they reeeivo by ensuring it is tailored according lo their needs. lthen we visit an older person, our service listens to what an older person wants and needs and then puts together a package with support to make 11 happen. This is flexible, so th2t rf an older person does not agree with anything suggested, or il Iheii needs ¢hange, the seNices to them change as well. A8 such, the service is able to recognise the diversity of needs ol the individual and therefore tailor the servi speafically lor them. Sotne older people rnay just want to be provided with information on options available lo them and will decide the way fonvard Ihernselves and take action accordingly. Others will want greater 8ssislan¢e and support to access and progress options. Practical Services The practiG31 servic8s provid8 SUPPOrt lo older people to help them complete small-scale adaplalions and repairs to their properties. Funded primarily by the Welsh Government Rapid Response Adaptation Pro9ramme, the Housing with Care grant. Enable grants and fe& incorlle from delivering the Cardiff Council Preventative Servitss Contract, the service ernployed 6 full lime and part time staff during the period 1 April 2024 10 31 March 2025. as well as works with the charity's social enterprise and a number of local specialised contractors. Thè pradieal senrice provides an effective and efficient, minor adaptation and repaiT service for older people. The service supports older people lo accelerate discharge froin hospital to 8 safe and comfortable home., prevent inappropriate hospital admission,. promote the well-being af the individual,. increase and itnpiove the individual's ability lo maintain an independent lifestyle., r8duc8 care packages. The objectives are to reduce delayed transfers of care and tackle preventable accidents within the home, whid) may re5uII in an unnecessary hospit81 admisslon. The pr8cIic81 service can assist okler people with a wide range ol small scal8 adaptations and repairs works such as installing grab rails, hand rails. stair raiL%, keysafes, etc, Works are either delivered by staff working in the charity or the trading subsvjiary or by local speclalised ¢onlra¢tors. During 2024125, the eharity continued to deliv8r the Preventative Servi$ Cardiff Council contract. This contract expands upon the range and scale of the practical services provided by the charity as il involves the provislon and insl8llation of minor adaplalions including hand and grab rails., small rarnps,. s18ir rails., a51erations lo steps,. external rails and repairs lo specialist equipment, etc. The objective for this type ol assistance is to ensure that older, vulnerable service users receive the required low-level preventative interventions, repair or replacement of defective adaptations lo assist them maintain their independence in their home environments. P8g8 5
Care & Repair Cardiff And The Vale Group Report of the Trustees for the Year Ended 31 March 2025 How we promote our actlvltles We have a communication strategy in place which seek5 to ensurè that our $8tvices are accessible and equitable to all older people wthin Cardiff and the Vale of Glamorgan. Our setvices are made 8v8ilable through protTK)tion lo older people. We attend and actively take part in publi¢ily events aimecl al older people to ensure details of its services are disseminated as far as possible. We make every effort to make information about our services available in placeswhere older people access a¢ross the region and in the lorrnal that makes it accessible for them. Our statutory, health and Ihird sector partners also carry up to date information that promotes our services. We hav8 bilingual illformalion and in line with our Welsh Language Scheme both promote the Welsh language and make service access available through the medium of Welsh. We use a vèriely ol mèthod5 to support effective communication with Minority Ethnic communities including using interpreter5. We use a variety of methods to support effective communication with clients with hearing loss including using sign language. We gularly review and analyse client spatial patterns lo target promotional activities to Communities that are stabstically underrepresented. We have been developing our online presence through our website and social rrdia profis. so our clients and referrers can easily access up lo date information our services as well as olllact us electronically. Full details of how we prornote our services are contained in the charity's Communication Strategy. Page 6
Care & Repair Cardiff And The Va18 Group Report of the Trustees for the Year Ended 31 March 2025 Achlevemènts and Performance Revr8w of our key achievements and performance Our key achievements and performanc& during 2024125 can be summarised 8s follows.. Aims To provKle Casework and Technical service Ihome Target Helped 4,000 older people, ol whKh". Progre5S We have provided a Casework and Technical sewice in Cardiff and the Vale of Glamorgan and provided solutions that have improved the Independence of older people. We have.. helped 4.209 older people visited 1,210 older people and provided s healthy home assessment. tailoring a service to their individu81 needs mpleted 735 telephone based healthy home assessments of the needs of older people provided housing informBtion and advice lo 2,264 older people 1,200 older people receiving a 'healthy homes che¢k' horne visit 8ssessmenl problem-led, person-¢enlred aThl individual tailored) 800 older people receiving 'heatthy homes check, telephone based assessment 2.Crt)O older people receivino housing informalion and advice 2,5000 work items completed totalling £1.000,000 in valu8 To address home hazards in the horne and reduce the risks lo the wellbeing ol older people, allowng Ihern to live in comfort, safety & 5ecuiily In providing outcomes that impmve independence and reduce the risk to health & wellbeing, we have.. completed 1,979 works tolalling £1,023,695 in value have raised charitable monle5 sUPPOrt of home improvement for 150 older people at a value of £77,712 increased income for 215 older people al a combined value of £1,023,695 per annum 1(Xl 0er people will recewe help lo access benevolent i Gharitable funding totalling £40,000 to support the costs of works 150 older people will have thei incomes incieased by £600.000 pw annum in total To ensure our services are high standard, rneel the individual needs of the older people we serve and support their independence 90¢/0 of older people feel that their wellbeing and independence had been improved Feedback from the okler people thal our CasewoTk and Technical service helped indicates.. 'fell their independence and wellbeing had been improved, 1 OOQ/o would'reoornmend our setvices to others, 100/0 said'they were satisfied wilh the standard of works completed in their home$, 90¥0 of oldei people would recommend the Agency of older people satisfied with the standard of works completed Page 7
Care & Repalr Cardiff And The Vale Group Report of the Trustees for the Year Ended 31 March 2025 Achievements and Performance- cont'd Review of our key achievements and perforniance- cont'd Alms To proVe a practical works service Target 5,500 small adaptation works completed Progress We have facilitated a rapid response, small adaptation and minor repair scheme for older people in in Cardiff and the Vale of Glarnorgan. in partnership with Health and Social S8tvice8. Our piactical service has.. completed 5,743 works totalling £1,016,892 in value works were completed in aver8g8 of 12 days 83QA ol works completed in largel timescale 909 of works completed in target limesc8le (less than 21 days) To ensure our practical services works effectively to rneel the objectives of sale hospital di%charge and I or prevellling hospital admissions To ensure our services are high standard, meet the individual needs of the oldèr people we serve arKI support 800 practical works supported sale hospital discharge Our completed works support9d.. a safe hospital discharge in 1,117 instances improved safety and security 2nd MOVed or reduced hazards in the home enviTonmenl in 4,871 instances 4,700 practical works rernoved or reduced hazards in the home environment 90¢A of older people satisfied wth the appointed Handyperson I contractor le.g. quality of work, tidiness. timekeeping. etcl Feedback from the older people that our practical service has helped indicate5'. 100 /0 were satisfied with the appointed HandypeT50n I contractor 100 /0 would recommend our sel¢e$ lo others 1000la agreed they felt more confident and independent 900A of older people would recommend the Agency gOOh of okler people who agreed that they feel more confident and independent independence To provide an efficient seNi lo deliver Ihe Prevenlalive Services contract effectively WoTks completed In target limescale120 working days) We have". completed 1,755 Safety al Home works works were completed in average of 48 working days Page 8
Care & Repair Cardiff And The Vale Group Report of the Trustees for the Year Ended 31 March 2025 Feedback from older people Feedback from older people that we have helped highlight5 how the services we provide has made a real difference. Older people tell us that as a resutt of our aclwrties. they feel safer, more confident, more warm and more secure undertaking their daily 8clivilies in their homes. Overall. 99°/0 of older people fell rnore able to remain living in their own homes with in¢re8sed independence and wellbeing as a result ol our aclivibes (figures obtained from 862 returned client satisfaction surveys between 1 April 2023 31 March 20241. Feedback from our ongoing engagement with older people helps us lo continuously improve and develop our services to ensure they are ol a high quality and Meet the needs of those who use us. Across our services, 100 /0 of older people said they would recommend us and lo/¢ were satisfied with the works they had done. Review of financial position During the period in review, the group received £3,834,082 in lolal income and spent £3.759,285 in lotal expenditure. Principal funding sources The principal funding sources for the charity during the period in review were by way ol grant from Welsh Government, Cardiff Council, the Vale of Glamorgan Council. Cardiff and V81e UHB. 8rEd National Grid Energy Distribution, as well as income earned through the delivery of the Prevenlalive Setvices contract 2nd other seNices. The charity also recewed funding from restricted income on behalf of clients,. incorTre from works undertakÈn.' and donations. The funding received was used in furtherance ol the objedives of the charity to support older people in Cardiff and the Vale of Glamorgan to live independently in sale, secure. wam and comfortable hornes through the provision of a range ol services that helped older people lo cotnplele repairs, iwprovements and adaptations to their homes. Like many organis81ions operating in the not for profil seclor. our charity faces a number of cha118nges and Changes over the coming year. One of our key risks surrounds financi81 sustainability. To address this risk, the charity has established a soaal enterprise trading subsidiary Ihal is generating income through undertaking a variety of buildingworks. Thecharity is also looking al seeking funding from a wider rarKJe of potential providers who would be willing to support our objectives. Reserves Policy The level of reseNes that Care & Repair Cardiff and the Vale needs to hold is an important part of our financial management and financial planning strategy. The trustees have examined the Charity's requirements for reserves in light of the main risks lo the organisation. Based on this analysis, the trustees have developed a reserves policy and have calculated that the charity needs to hold £800,000 in reserves to manage cash flow, ¢onlinuily and liability risks as well as any emergency expendrture and monies for expansiori of services. As at the 31 March 2025, the group held £854,607 in unrestricted general reserves. The trustees have agreed to use the excess level of reserves to develop and enhance services I works for older people during the forthctsming year. The Group 3180 hold$ live re51ricled funds. These are the clnt fund £4.382'. the Hardshlp fund - £23,233., the Electrical Safely Fund - £10,000,. the WRRF fund- £142,883., and the reserves ol the subsidiary - £0. As al the 31 March 2025, a total of £180,498 was held in the restricted funds. FuMd5 in the client fulld are funds held cn behalf ol specific older people for payment of works. Funds in the hardship fund are held on behaK of any older person requiring emergency assistance as deemed appropriate by the charity. Funds in the electrical safely fund are held on behalf of any older person requiring support with electrical works as deemed appropiiale by the charity. Fu5 in th8 IhRRF fund 8re funds held specifically to provide servlces for older people that are deffned as eligible by the Independent Living Service at Cardiff Counal. Funds hekl from the subsidiary iepi8senl th8 amounts generated that are to be spent on Ihe activilies of the subsidiary. Page 9
Care & Repair Cardiff And The Vale Group Report of the Trustees for the Year Ended 31 March 2025 Plans for the Future We plan to conlinue delivering our casework and technlcal servlce and our practical services over the forthcorning year5. During 2025126 we will consolidate 8nd irnprove the provision and delivery of our existing services lo our cli&nts. We will continue to grow and develop our so¢ial enterprise trading subsidiary. We feel that this will enable us to provide a better service to older people as well as provide an oppotlunity to generate income for the charity. We will continue to deliver the Cardiff Council Preventative Service Framework contract. We will deliver the National Grid Energy Distribution Affordable Warmth contract. We will also explo options to provide new and innovative services where appropriate. For example, further developing our Handyperson seNice to undertake more small repairs and 'odd jobs. works. All of our proposed activities for the future focus on supporting and helping older people to repair. adapt and rnainlaim their homes so as they are able lo live in safe, secure, warm and comfortable homes which suits them and their lives and maximises their independence. As such, our proposed acliviues address the needs of the communities and clients we serve and fully reflects the purpose for which our charity vms sel up lo further. As we go into the next financial year. there are a number of significant challenges which aTe likely lo impact on us as a charity including uncertain grant funding and potential loss of key local funding streams. We will review our p18ns and finances on a regular and oDgoiy)g basis to try and mitigate any developing risks that could impact on the charity and on our provision of services. Governing document Care 8 Repair Cardiff and the Vale 15 a charitable company limited by guarantee, incorporated on 12 February 2015 and registered as a thaTity on 9 June 2015. The company was established under a Memorandum ol Association and is govemed uniler its Articles of Assorialion. which outline the objects and powers of the charity. In the event of the company being wound up. the liabilily of the members is limited to a sum not exceeding £1. Recruitment and appointment of new tNstees The directors of the company are also charity Iruslees for the purposes of charity law. All Iruslees give their lime voluntarily and receive no benefits from the charity. Mr J Wroe, Mr M Thomas, Mr M Cuddy and Mr S Kelly were the subscribers of Care & Repair Cardiff and the Vale's Memorandum of Assoeiation and were appointed a5 the first directors of the company on the 12 February 2015. All ol the directors are members of the Board of Trustees. Mr Jay Se8TS Was appoillled by the other Iruslees to ad as Chair of the Board of Trustees on the 18 October 2023. As al the 31 March 2025, the d1CtorS and trustees of Care & Repair Cardiff and the Vale were Mr M Cuddy. Ms D Rosser. Ms O Lyons. Mr J Sears, Mr Wvaughan, Mr C Chadha and Mr S Evans. Page 10
Care & Repalr Cardiff And The Vale Group Report of the Truslees for the Year Ended 31 March 2025 Objectives and activities structure, Governance and Management Onethird ol the trLJslees mustthen retire from office at each subsequent annual general meeting. The minimum nurnber of trustees is four. The charity rnay by ordinary resolution appoint a person who is willing to acl to be a Irusle8. Trustee induction and training Potential trustees are invited to observe at meetings of the trustees. New trustees are invited to meet with the Chief Officer of Care & Repair Cardiff and th8 Vale lo familiarise themselves with the charity and the context within which it operates. Thi5 Meeting covers the obligations of trustees,. the main documents which sel out the operational framework forlhe charity., the aims, objectives and activities of the charity,. funding and the latest budget position., p8rfoitnance,' and future pEans and objectives. A copy of the charity's Articles of Assoc48tion and the Charity Commission s guide 'The essential ttustee, Is provided lo new Iruslees alomg with links lo all the other guidance and infomation held on the Charity Commission's website. Organlsational structure and how the charity makes decisions C8r6 & Rèpair Caidiff and the va ha8 a Board of Trustees who meet at leasl quarterly and are responsible for the strategic direction and policy ol the cttarily. As at the 31 March 2025, the Board of Trustees was comprised of sevell trustees from a variety of backgrounds relevanl lo the history and the work of the Gharty. The trustees are responsible for ensuring that the ch8rity is cairying out its purposes for the public benefit as well as ensuring perfomanee and financial aceounlabilily., foTmulating policy and gaining foresight,. strategic thinking.. and supervising management. A scheme ol delegation is in place and day to day responsibility lor the managemènt of the Chaiity iests with the Chief Officer along with the Operational Manager, Senioi Cas8workei. Senior Thnical Officer and Senior Administrator. To facilitate effective operations, the management 18am has delegated authority, within terms of delegation approved by th8 Irus188s, foi operalional matters including finance and performance related aclwrty. The Chief offi[. Operational Manager. Senior Caseworker, Senior Technical Offic8r and Senior Administrator attend meetings of the Board of Trustees but have no votlng Tights. Arrangement5 for setting pay and remuneration of stsff W8 hav8 8 recognised and Iransparanl pay scheme which is reviewed on a regular basis. Salaries for all slaff roles are reviewed against comparator national, regional and local organisations 8nd this informaliom is used lo establish a median benchmark salary for each of the staff roles. On an 8nnual basis, the trustees will determine whether any cost of living awaid should be applied to staff salaiies. This cost of living award is benchmarked against pay increases for workers In the Care & Repair movement andlor in the public and third seetorlsl and if awarded, is applied from the beginning of the next financial year. Relationships with related parties In Ihe pursuit of our charitable objectives, the charity is guided by btsth national and locAtr slralegi¢ and policy contexls lor older people and housing, health, social care and well-being. Furthetrnore, the charity works in partnership and co-operates wilh a variety of national and Ioc81, slalulory and non-stalutory organisalions. Page11
ca & Repair Cardiff And The Vale Group Report of the Trustees for the Year Ended 31 March 2025 Risk Management Risk plays an everyday part ol Gare & R8pair Cardiff and the Vale's aclivily. Managing risk effectively, therefore, is essential if the charity is lo achieve its key aims and safeguard ils funds and assets. The trustees have given consideration lo the major risks to which the charity is exposed and are satisfied that systems or procedures are established in order to manage those risks. The Iruslees have d8veloped a risk rvanagemgnl strategy which cornpriseg.. lil regular quarterly reviews of the piincipal risk8 and uncertainties that the charity faS lill the establishment ol policies, systems and procedures to mitigate those risks identified in the quarterly review liill the implementation of procedures designed to minimise or manage any potential imp8cl on the tharily should those risks mateiialis& This process has identified that the long terrn financial sustainability and health and safety managernenl are the major risks facing the charity. sks associated with long term financial sustainability are being managed through the charity's plans ft>r income generation, income diversification and gmwth strategy as well as through the 8pplication of the reserves policy. This comprises continuing to develop the charity's social enterprise trading aim that will generate income through undertaking a variety of building works., seeking funding frorn a wider range of potential providers who would be willing to support our objectives., and rnaintaining the level of unreslricled general reserves required. Risks associated with health and safety management are being managed by ensuring the charity complies th HSE law and iegulalions," ha5 robust health and safely policEs and procedures in place." regularly ieviews risk asse55ments relating to heahh and safely., provides 8ppropiiate PPE,. has regulaT health safety awareness training for staff and Maintains ils Safely Scheme8 iri Procurement {SSIP) accredilalion. Governing document The chaiity is controlled by ils goveming document. a deed of trust. and constitutes a limited company, limited by guarantee, 8s defined by the Companies Act 20. Page 12
Care & Repair Cardiff And The Vale Group Report of the Trustees for the Year Ended 31 March 2025 Reference and administrative detalls Registered Company number 09437405 {England and Waltrsl Registered Charity number 11e2083 Reglstered office Tolven Court Dowlais Road Cardrff CF24 5LQ Reference and administrative details Trustees Mr M Cuddy Ms D A Rosser Ms O Lyons Mr J Sears Mr Wvaughan Mr C Chadha Mr S Evans Audltors Menzies LLP Statutory Auditors 51h Floor, Hodge House 114-116 Sl Mary Street Cardiff CF101DY Page 13
Care & Repalr Cardiff And rhe Vale Group Report of the Trustees for the Year Ended 31 March 2025 Statement of trustees responsibilities The trustee5 (who are a150 the directors of Care & Repair Cardiff And the Vale for the purposes of company lawl 8re sponsIble for prep8ring the financial statements in accordance with applicable law and United Kingdorn AountIng Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare finanoial statements for each finanaal year which give a true and fair view of Ihe slate of affairs ol the charifable company and of the incoming resources and applicalion of resources, including the income and expenditure, ofthe charitable company for that period. In preparing those linanaal slalements, the Iruslees are requiTed to.. select suitable accounting policies and then apply them consistently., obsetve the methods and principles in the Charity SORP., make judgements and estimate5 that are reasonable and prudent., state whether applicable accounting standards have been followed. subject to any material dep8rtuies disclosed and expL41ned In the financial statements., prepare the Iinancial slalemenls on the going concern basis unless it is inappiopri8le lo presume that the Charitable company will continue in business. The trustees are responsible for keeping pr(>per accounting records which disclose with reasonable accuracy at any time the financi81 position of the ch8ritab18 company and to enable them lo ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence lor taking reasonable steps for the prevention and detection of fraud and otheT irregularities. In so far as the Iruslees are aware.. there is no relevant audit information of which the charitable company's auditors are unaware., and the trustees have taken all steps that they oughlto have taken to make themselves aware ol any relevant audll information and lo establish that the avditors are aware of that information. Auditors The audilors, Men2ies LLP, Statutory Audilois, will be proposed for re-appoinlment at the forthcoming Annual General Meeting. Report of the Iiusleg5. incor company dire¢lor$ alin astr c report, approved by order of the board of Iiuslees, as the and signed on the board's behalf by.. Jay Sears- Chair Page 14
Report of the Independent Auditors to the Members of Care & Repair Cardiff And The Vale Opinion We have audited the financi8151atemenls of Care & RepaSr Cardlfl And The Vale (the 'parent charitable company'l and its sub8idiary for the yeai end9d 31st March 2025 which wmprise the Statement of Financial Activities, the Balance Sheet. the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reportillg framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial stalemenls.. gnie a Itue and fair view of the state of the group's and parent Charitable company's affairs as at 31st March 2025 and of its incorning resources and application of r9souroes, induding ils income and expenditure, for the year then ended., have been PToperly prepared in accordance with United Kingdom Generally Accepted Accounting Practice.. and have been prepared in a¢cordance with the requirernenls of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with International Standards on Auditing (UK) IISAS IUKII and appIable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial Statements section ol our report. We are independenl of the charitable company in aocordance with the ethical iequirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our olhei ethical responsibilities in accordance with these requirements. We believe that the audit evidenoe we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial slalemenls, we have concluded that the truslees, use ol the golng concern basis of aocounling in the preparation of the financial statements is appropriate. Based on the work we have perforrned. we have not identified any material uncertainties relating lo events or conditions that, individually or colledivdy, may cast signrficant doubt on the charitable company's ability lo continue as a going Concern for a period of al leasl fv4elve months from when the financial statements are aulhorised for issue. Our responsibilities and the responsibilities of the trustees with resp8Ct lo going concem are desuibed in the ielevant sections of this report. Other inforfflation The Iruslees are responsible for the other information. The other infomation Comprises the information induded in the Annual Report. other than the lin8nci81 statements and our Rewrt of thè Independent Auditors thereon. OUT opinion on the financial statements does not cover the other inlomialion and, exp1 lo the extent othetwise explicitly slated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial slalemenls, our responsibility is lo read the olhei information and. in doing so, consider whether the other infomialion is materially inconsislenl with the financial slalements or our knowledge obtained in the audit or otherwise appears to be materially misstated. 11 we identify such material Inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other infom)ation. If, based on the work we have performed, we conclude that there is 8 material misstatement of this other information, we are required to report Ihal fact. We have nothin9 lo report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial slatemenls,. and the Report of the Trustees has been prepared in accordance with applicable legal requirements. Page 15
Report of the Independent Auditors to the Members of Care & Repair Cardiff And The Vale Matters on which we are required to report by exception In the light of the knowledge and understanding of the chaiitable company and ils envimnrnenl obtained in the course of the audit, we have not identified material misslalernenls in the Report of the Trustees. We have nothing lo report in respe¢l of the following matters where the Companies Act 2006 requires us to report lo you if, in OUT opinion.. adequate accounting records have not been kept or retums adequate for our audit have not been received from branches not visited by us., or the financial slalements are not in agreement with the accounting records and returns". LY certain disclosures of trustees, remuneration specified by law are not made., or we have not received all the information and explanations we requ1 lor our audit. Responslbllitles of trustees As explained more fully in the Slalement of Trustees, Responsibilities, the trustees (who ar6 8150 the directors of the ch8rilable cornpany for the purposes of company lawl ore responsible forthe prep2r8tion ofthe finan¢i81 5t8temenls and for being satisfied that they give a Iiue and fair view, and for such intern81 control as the trustees determine is ne$sary to enable the prepar81ion of finanaal statements th81 are free from material misstatemenl. whether due to Ir8ud or error. In preparing the finand81 slalemenls, the trustees are responsitAe for assessing the d)aritable company's ability lo continue as a going concern. disclosing, as applicabl8. rnatters related lo going concern and using the going concern basis of accounting unless the trustees either intend lo liquidate the eharÉtabl8 company or lo cease operations, or have no realistic alternative bul lo do so. OLsr responsibilitles fortht audit of the financial statements Our objects'ves a lo obtain reasonable aSSuTall about whether the financial slalernenls as a whole are free from material misstatement, whether due lo fraud or error, and to ISSU8 8 Report of the Independent Audrtors that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that 8n audit conducted in awordance with ISAS IUKI will always delect a material misstatement when il exists. Misstatements can arise from fraud or etror and are considered malerial if, individually or in the aggregale. they could reasonably be expected to influènce the economic decisions of useT5 taken on the basis of these financial slalements. Irregularities, including fraud, are instances ol non-compli8n¢e with laws and gUlatiOnS. We design procedLEres in line with our responsibilities, oullined above, lo delect material misslalemenls in respect of irregularities, including fraud. The extent lo which our procedures are capable of deleding irregularities. including fraud is detailed below.. The extent to which our procedures a capable of detecting irregularities, including fraud is detailed below.. Our planning PTocedures identify the legal and regulatory frameworks applicable to the operations and finaneial statements of Ihe group. These are reviewed internally with the audit team including relevant industry experience and expectalions as well as exiefnally with the dienl rnanagement. The key18ws and regulations we considered im this context were the Companie5 Act 2006, Charities Act 2011 and relevant tax legislation. Once identified, we assess the risks of material misslatements in relation lo the laws and regulatic¥)s, irregularities, induding fraud and adjust our testing accordingly. OLJr audit procedures include.. Discussing with Trustees and management which areas of the business they believe to be tnore susceptible lo fraud, and whether they have any knowledge or suspicion of fraudulent aetivilies.. Ob18ining an understanding of the key controls pul in place by the group to address risks identified, assessing the effediveness of those and discussing how these are maintained and rnonilored internally.. Assessing the iisk of m8n8gemenl override and review and testing of joumal enlries made into the accounting system, Discussing with Tiustees and management the legal and regulatory obligaliolls of the business and whether they have any knowledge or suspicion ol non compliance. P8ge 16
Report of the Independent Auditors to the Members of Care & Repair Cardiff And The Vale Desptte the audit being planned and conducted in accordan with ISAS IUKI there remains an unavoidable risk that material misstatements in the financial slalemenls may not be detected owing to inherent limitations of the audit. and that by their very nature. any such instances of fraud or iiregulaii158s likely involve collusion, forgery. intentional misrepresentation. or the override of intemal controls. A further description of our responsibiliti85 for the audit of the financial stalements is located on the Financial Reporting Council's website at www.frc.org.uklauditorsresponsibililies. Thls d&seripllon lorms part of our Report of the Independent Auditors. Use of our report This report 15 made solely to the charitable ¢ompany's members, a5 a body, in aecordance wilh Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has be8n undertaken so that we might stale to the charitable wmpany's members those matters we are required lo slate lo them in an auditois, report and for no other purpase. To the fullest extent pemiitled by law, we do not accept or assume iesponsibility to anyone other than the charilable company and the charitable company's members as a body. for our audit work, for this report, or for Ihe opinions we have form8d. Vic oria C8rteT (Senioi Statutory Auditor) for and on behalf of Menzies LLP. Statutory Auditors 51h Floor, Hodge House 114-116St Marystreet Cardiff CF10 1DY Date.. lol z.5....... Page 17
Catt & Repair Cardiff And The Vale Consolidated Statement of Financial Activities Ilncorporating an In¢ome and Expenditure Accountl for the Year Ended 31 March 2025 2025 Restricted Total funds funds 2024 Total funds Unrestricted fund Notes Income and endowments froTn t)onations and legacies Charilable activltles Care & Repair 16,985 16,985 14.898 2,415.245 1,382,802 3,798,047 3,781,006 Investment Income Other income 13,675 5,375 13,675 5,375 17,823 3,033 Total 2.451.280 1,382,802 3,834,082 3.816,760 Expènditure on Ralsing funds Charilable actlvlt18S Care & Repair 2 234 703 1,524,582 3,759,285 3 764.788 Total 2,234,703 1,524,582 3,759,285 3.764,788 Net incomellexpenditurel Transfers b8tween funds 216,577 1161,8371 1141,7801 161,837 74,797 51.972 Reconciliation of funds Total funds brought fokward 799,887 160,441 960,308 908,336 Total ftrnds carried foNard 854,607 180,498 1,035,105 960,308 Continuing operations All income and expenditure h8s arisen from continuing 8clivilies. The notes form part of these financial statemènts P8ge 18
Care & Repair Cardiff And The Vale Company Number.. 09437405 Consolidated Balance Sheet At 31 March 2025 Group Charity 2025 2024 2025 2024 Notes Flxed Assets Tangible Fixed Assets Investments fjo 43.676 433,(r26 43,676 433,026 319,351 319,351 Current assets Stock Debtars Cash al bank 12 13 59.992 268.764 473.026 68.918 317.211 447.380 462,481 31g 333 469,305 347,042 801,782 633.509 781,814 816,347 Credito Amounts falling due within one year 14 1243,379) 1192.5521 {223,4111 1175,3901 Net current assets 558,403 640,958 558,403 640,958 Total assèts lass cuffollt liabilitie8 960,308 960,308 960.308 960,308 Net assèts 1035 105 960 308 1035,105 960.308 Funds UnreslriGtfjd funds.. Parent Subsidiary Company RestriGled funds.. Parent Subsidiary Company 16 854,807 799.867 180,498 160,441 Total funds 1035.105 960 308 In accordance wilh Section 444 01 the Companies Act 2(X)6. the Income Statement has not been delivered. The financkal statements were approved by the Board of TtU5tees on 22 Odober 2025 and were signed on its behaw by.. Jay Sears - Chair Th8 notes form part of these fin8nci81 statements Page 19
Care & Repair Cardiff And The Vale Consolidated Cash Flow Statement for the Year Ended 31 March 2025 2025 2024 Notes Cash flows from oporatrng activities Cash flows from operating activlties Cash generated from operations 19 173116 75,994 Nel cash provided by operatino activities 173,116 75,994 C88h flows from Investing activities Purchase of fixed assel investments Purchase of fixed assets 1100,0001 47,470 117,8231 N81 cash {used inllprovided by investing activities {147,4701 17.823 Change In cash and Cash equivalents In the reporting period Cash and cash equivalents at the beginning of the reporting period 25,646 58,171 447,380 389,209 Cash and cash equivalent5 at the end of the reportlng pèriod 473,026 447.380 The notès form p8rt of these financial slalements P8g8 20
Care & Repair Cardlff And The Vale Notes to the Consolldatèd Flnanclal Statements for the Year Ended 31 March 2025 Accounting policies Basis of preparlng the financlal statements The financial statements ol the charitable group, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charilies SORP IFRS 1021 'Accounling and Reporting by Charities.. Statement of Recornmended Practice applicable to chaiities preparing their accounts in accordance with the Financial Reporting Sl8lldard applicable in the UK 8nd Republlc of Ireland IFRS 1021 leffeclive 1 January 20191., Financial Reporting Standard 102 Yhe Financial Reporting Standard applicab in the UK and Republic ol Ireland, and the Companies Act 2006. The financial slalemenls have been prepared under the historical cost convention. Basis of consolidation The consolidated stalements of the Group incorporate the financial $181emenls of Care & Repair C8rdiff and the Vale and its subsidiary undertaking, which is made up lo 31 M8r¢h 2025. No separate cowpany Statement of Financial Activities ISOFAI has been prepared lor the Charity as permitted by section 408 ol Ihe Companies Act 2006 and paragraph 24.37 of the SORP. Subsldiary undertaklng The chafily has a subsidiary, Care & Repair Horne Impiovemgnl Services Ltd. company numbèr 10541156, a company limited by guarantee which is incorporated in the UK and based al the s8me registered office as ils parent. Care & Repair Cardiff and the Vale h85 ntrOl over the subsidiary by way of its Board and Trustees. The results for the year ending 31 March 2025 were lumover of £1,832,041, expenditure of £1,431,512 giving profit of £201.529. During the year. the subsidiary don8led ils taxable profits of £201,529 as grft aid whith has subsequently been eliminated on consolidation. Income Donations are recognised where there is entitlement, rtainlY of receipt and the amount can be measured with sufficient reliability. All income is recognised in the Statement of Financial Activitie5 On the charrty has entitlement to the funds, it is probable that the income will be reiVed and Ihe amount can be measured reliably. Any funding streams which incorporate both a grant and loan element will be apportioned in line with the underfylng agreement. Deferred income represents amounts reiVed for future periods and 58 released lo incoming resourcès in the period which il relates lo. Expenditure Liabilities are iecognised as expenditufe as soon as there is a legal or constructive obligation commilling the chaiily lo that expendiluTe, il is probable that a transfer of economic benefits will be required in settleinenl and the amount of the obligation can be measured reliably. Expendilure is 8¢¢ounled lor on an accruals basis and has been classified under he8dings Ihat aggregate 811 cost related to the category. Where costs cannot be directly attributed lo particular headings they have been allocated to acliwlies on a basis consistent with the use of resources. Inv8stment# Investments have been classified as fixed asset investm&nts and are measured at tnaikel value at the balance sheet date. Any gains and losses on Te-measuremenl are recognised in the profil or loss for the period. Stocks Stocks are valued at the lower of cost and nel realisable value, after making due allowance for absolete and slow rnoving iterns. Page 21
Notes to the Consolldated Flnancial Statements - contlnued for the Year Ended 31 March 2025 Accountlng pollcles- eont Taxation The eharity is exempl trom corporation lax on its charitable 8cllvilies. Fund accounting Unrestricted funds can be used In a¢¢oid8nce with the charitable objectives at the discretion ol Ihe trustees. Restricted funds can only be used for particular reslricled purposes within the objects of Ihe charity. Restrictions arise when specified by the donoi 01 when funds are raised for particular reslrlcted purposes. Further explanation of the nature and purpose ol each fund is induded in the notes lo the financial statements. Related party exemption The company has taken advantage of exemption, undei the terms of Financial Reporting Standard 102'The Finanaal Reporting Standard applicable in the UK and Republic of Ireland,. not to disclose related party transaclions with wholly owried subsidiaries within the group. Pension Costs and other post-tIreMent benefits The charil8ble company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Slalement of Financial Aciivities in the period lo which they relate. Debtors, QdItorS and cash Current assets and liabilities, including cash held at bank are recognised 8t eosl tsr valuation as al the year end. Opèrating leases Rentals payable under operating leases are eh8ig8d in the statement of financial activities on a $lraighl line basis over the term of the lease. Donatlolls and legacies 2025 2024 Donations 16,985 14.898 Page 22
Care & Repalr Cardlff And The Vale Notes to the Consolidated Financlal Statements- continued for the Year Ended 31 March 2025 Income from charitable activities 2025 2024 Activity Care & Repair Care & Repair Care & Repair Care & Repai Work5 Income Client Fund Income W2RF Fund Income Grants 1,464,926 59.948 353,367 1,919,806 1,414,659 41,744 501,940 1.822,663 3,798,047 3.781,006 Grants received, included In Ihe above, are as follows.. 2025 2024 Welsh Gov9rnment Home Improvement Grant Welsh Government RRAP Capital Grant Enable Grants National Grid Electricity Distribution Managing better Other grants Housing wth Care Fund Grant VOG Small Adaptation & Sensory Works Cardiff 50 Day IGWC Older Not Colder Electrical Safety 498,831 4t,352 449,054 1eO,890 43,122 11,268 250,000 498,831 326,330 530,824 155,000 42.473 17.494 250,000 1.711 51,345 38,946 10,000 1,919,806 1 822,663 During the year Ihe group Tecewed grant income of £1,919,80612024- £1,822,663) Itom natlOn81 and local governtnents in order to 8ch1eve its charitable objeclNes. Charitable activities costs Grant funding of activities Iseè nole 51 Support costs tlrect costs Totals Care & Repair 3,737,634 21,641 3,759,285 Page 23
Care & Repair Cardiff And The Vale Noees to the Consolidated Flnanc4al Statements contlnued for the Year Ended 31 March 2025 Support costs Support CL)sls indude costs ol the preparation and audit of the statutory a¢counts as well as other legal and Consultancy lees. Grants payable 2025 2024 Care 8 Repair 100,000 100,000 During the year. the charity paid grants lo other CaTe & Repair institutions of £100.00012024.. £100,000) ting lo the NGED South Wales Affordable Warmth Project12024". NGED South Wales Affordable Warmth Project) Net incomellexpendlturèl Nel incomellexpendilurel r8 81ated after chargingl{credllingl'. 2025 2024 Auditors. remuneration Auditors, remuneration foi non-audil work Other operating leases Depreaation- owned assets 7,650 2,000 28,000 3,794 7,310 2,(K)O 22.000 Trustees, muneratIon and benefits There were no IIu8lees' remuneration or other benefits for the Year Ended 31 Maich 2025 nor lor the year &nd8d 31 March 2024. Trustees. expenses 2025 2024 Trusle8s' expenses 28 117 Staff costs 2025 2024 Wages and salaries Social Security costs Other pension costs 1,374,014 128,233 56,372 1.192,087 107,950 49.662 Page 24
Care & Repair Cardilf And The Vale Notes to the Consolidated Financial Statements- continued For the Year Ended 31 March 2025 During the year rernuneralion of £141,91912024- £118.3301 was pald to key management personnel. The average monthly number of employees during the year was as follows. 2025 2024 Service 45 41 The number of employees whose employee b8nefrts l&xduded ernployer pension costsl exceeded £60,000 was.. 2025 2024 £60,001- £70,000 £70,001- £80,000 £80,001- £go,000 Comparatlvas for the consolldated statement of financial actlvlties Unrestrlcted fund Restricted Total funds funds Income and endowments from D(Trnations and legacies Charitable activitieg Care & Repair 14.898 14,898 2,395,419 1,385,587 3,781,ooe Investment income Other incotne 17.823 3,033 17,823 Total 2,431,173 1,385,587 3.816,760 Expenditure on Raising funds Charltable actlvltles Care & Repair 2.380,914 1.383,874 3,764,788 Total 2,380.914 1.383,874 3,764,788 Net Incomellexpenditurel 50,259 1.713 51,972 Total funds brought forward 749,608 158,728 8,336 Totsl funds carrled foNard Page 24
Care & Repalr Cardlff And The Vale Not85 to the Consolidated Flnancial Statements - contlnued for the Year End8d 31 March 2025 10. Tangible Fixed Assets MoloT Vehides Cost Additions 47,470 Depreclation Charge for the year Net book value At 31 Marth 2025 43.676 At 31 March 2024 Fixod a$¥et investments Unlisted invèstm8nts Group and Company Market value Cost brought lonard Additions Revaluation 319,351 1,000 13,675 433.026 Net book value Al 31 March 2025 433,026 At 31 March 2024 319,351 There were no Inveslrnenl assets outside the UK. 12. stock Group Company 2025 2025 2024 2024 Stock 59,992 68,918 59.992 68,918 Page 26
Care & Repalr Cardiff And The Val8 Notes to the Flnanclal Statements . continued for the Year Ended 31 March 2025 13. Debtor¥.' 8moLtnts falllng due withln one year Group Charity 2025 2024 2025 2024 Trade debtors Prepayments and accrued income VAT Amoun18 owed from group undertakings 241.007 17,504 10,253 174,3CM) 131,432 11,479 234,936 16,998 9,018 201,529 73,527 131,432 4,772 159831 268,764 317,211 462,481 46S,305 14. Creditots: amounts falling due within on8 y8ar Group Charity 2025 2024 2025 2024 Trade Gieditors Ainounls owed to group underlakings Soaal security and other taxes Other creditors VAT A[u81S and deferred income 150.243 122,929 170,433 77,554 59,716 15,309 5,664 28,938 23,435 27,404 15,121 16,135 7.355 40,763 27,098 243,379 192.552 223,411 175,390 Leasing agreements Minirnum lease payments under non-cancellable oper81ing leases fall due as follows.. 2025 2024 Wlhin one year Between one and five years In more than five years 81,450 76,498 109,970 109,097 157,948 219.(K7 R8nta15 payable under operating lease5 are Charged in the profil and loss account tsn a straight line basis over the lease term. During the yeai, rental lease payments of £123.51812024.. £114.1781 have been recognlsed as an expense. Page 27
Care & Repair Cardlff And The Vale Not88 to the Finan¢lal Statements continued for the Year Ended 31 March 2025 16. Movement in funds Transfers between funds movement in funds At 1.4.24 At 31.3.25 Unrestrlcted funds General fund 799,867 216,577 1161,8371 854,607 Restricted funds Client Fund Warranty. Repair and Replacement Fund IWRRFI Hardship Fund Restricted WG HIA Grant Restricted WG RRAP Capital Designated Funds Electrical Safety Fund 2,986 142.883 1,416 4,382 142,883 14.592 8,641 1105.8651 (21 155,9701 10,000 23,233 105,865 55.970 10,O(Kl 160.441 1141,780) 161,837 180.498 TOTAL FUNDS 960,308 1 035,105 Nel movement in funds, included in the above are as follows.. Incoming resources Resources Movement in expended funds Unrestricted fLEnd8 General fund 2.451,280 12,234,703) 216,577 Restricted funds Client Fund Warrallty. Repair and Replacement Fund (WRRFI Hill Snook Hardship fund Restricted WG HIA Grant Resliicled VVG RRAP Capital Grant Designated Funds Electrical Safety Fund Care & Repair HOMÈ Improvement Services 59.948 {58,5321 1,416 353,372 2.500 20,751 498,831 408,352 {353,3721 12,5001 112,1101 1604,696} 1406,354} 155,9701 8,641 (105,865) 12) 155,9701 10,000 10.0(KJ 31.048 31.048 1,382,802 11,524,582) 1141.780) TOTAL FUNDS 3,834,082 3 759,2851 74,797 Page 28
Care & Repair Cardiff And The Vale Notes to the Financial Statements - continued for the Year Ended 31 March 2025 16. Movement In funds- continued Comparative year Transfers between funds movement in funds Al 1.4.23 Al 31.3.24 Unrestrlcted funds General fund 749,608 114,842 (64.5831 7gg,867 Restricted fund8 Clienl Fund Warranty, Repair and Replacernenl Fund (VWIRFI Hardship fund Reslricled VVG HIA Grant Oesignaled Funds 3,353 13871 2.966 142,883 12,492 142,883 14,592 2.100 153,0071 11,5761 53,007 1.576 158.728 162,8701 64,583 160,441 TOTAL FUNDS 908.336 51,972 960,308 Net movement in furKls, inclyded In the above are as follows.. Incoming ¥esources Resourc¢5 Movement in expended funds Unrestricted funds General fund 2,431,173 12,316,331) 114,842 Restricted funds Client Fund Warranty, Repair and Replacement Fund IVVRRF) Hill Snook Hardship fund Restricted WG HIA Grant Reslrieted WG RRAP Capilal Grant DesKJn8ted Funds 41,744 501,940 2,500 14,242 498,831 326,330 142,1311 1501,9401 12,5001 {12,1421 1551.8381 1326,3301 11,5761 13871 2.100 153,0071 11,5761 1385 587 1 448,457 62,870 TOTAL FUNDS 3.816.760 13,764,788) 51,972 General funds are available lor the use at the Irustees. discretson in furtherance of the objectives of the Charity. Client funds and Hardship funds 8re held on behalf of specific clients there money has been raised towards completing works on their beh811. The money is raised from charitable organisations, donations and fund raising actwities and 18 held lo be spent on specific hBJhlighled is8ue5. Page 29
Care & Repair Cardiff And The Vale Notes to the Flnanclal Statements - Contlnued for the Year Ended 31 March 2025 16. Movement in funds- contlnued Warranty. Repair and Replacement Fund IWRRFI 15 held specifically to provide services for clients that are defined as eligible by ihe Indepèndent Living Servi¢e al Cardiff Council. The Hill Snook Fund are held on behalf of any orient requiring ernergency assistance 8s deemed appropriate by the Ag8ncy because of monies donaled from thè Hill Snook Fund via C8rdiff and Vale Age Connects. Care & Rep8ir Home Improvement Setvices is the sUbsl3ry whose results are recognised in the consolid8ted results. Their reserves are reStrted tts the projects being compl&t8d by them. Welsh Government HIA Grant- Funds held 5P8cifically lo provide Hgme Improvement Agency services which help older160+1, disaNed and vulnerable people who own their own home or live in private rented accommodation lo live independently at horne. Welsh Govemrnent RRAP Capital Granl Funds held speafically to PTovKle minor repairs and adaptations to the properties of okler, disabled and vulnerable people as part of a partnershlp approach that provides a rapid response lo referrals from Health and Social Care professionals. Electrical Safety Fund - lo undertaken electrical works in vuln8rable older people's homes where electriaty hazards have been idenlilied, and for Ihe analysis of these works to produce a written public facing report lor PR. 17. Related party dlsclosures The Group have taken 8dvantage of exemption, under the terms of Finanaal Reporting Standard FRS102'The Financial Reporting Standard appIable in the UK 8nd Republic of Ireland,, not lo disclose relaled party trans8¢tions with wholly own8d sUbslarieS within the group. Outside of group transactions, there were no related pariy transactions for the year ended 31 March 2025, 18. Pension commitments The charity operales a defined eontiibulion pension scheme. The pension cost charge for the year represents contributions payable by the charitable group lo the scheme and amounted to £56,372 {2024. £49.6621. 19. Reconciliatlon of net incomellexpendlturel to net cash flow frorn operatlng actlvitle$ 2025 2024 Nèt incomellexpenditurel for the reporting period las per the stalement of financial activities) Adjustments for.. Depreciation Charges Inveslment Income Decrease I Ilncreasel in stock Decrease I Ilncreasel in debtors IDecie8s&) I Increase in creditors 74,797 51,972 3,794 113,6751 8.925 48.447 50.828 116,858} 76,914 130,0341 Nel cash provided by (used inl operating aetivilies 173,116 75.994 Page 30
20. Analysis of changes In net funds At 1.4.24 Cash flow At 31.3.25 Net cash Cash al bank 447,380 25,646 473.026 Total 447 380 473 026 This page does not form p8rt of the statutory financlal statements Page 33