REGISTERED COMPANY NUMBER: 09574555 (England and Wale$} REGISTERED CHARITY NUMBER.. 1163542 Report ofth• Tru8tws and Flnan¢lal Stat•m•nts for Y•ar End•d 31 March 2024 for Care & Ropair Cymru 2015 Haines Watls Waes LLP, St8tLrtory Auditors 7 Neptune Court Vanguard Way Cardiff CF24 SPJ
Care & Rèpalr Cymru 2Q15 Conlenls of the Flnanclal Stsl•m¢nts for the Year Endèd 31 March 2024 Pagg Report ol the Trnstees Report ol th• Indop•nd•nt Auditor 8 10 10 8tat•ment d Fln•h¢lal A¢t5vltl¢s 8alance Sheet 12 Ca$h Flow Statemont 13 Nots$ lo th¢ Cash Flow Statem•nt 14 Notss to the Flnanelal Staternents 15 to 30
Carn & Repalr Cymru 2015 IR•gl$t•r•d numbèr: 095745551 Report of the Trustees for th• Yoar End 31 March 2024 The trustgas who aro also directors of th8 charity for the purp050s of the Cornpanies Act 20, prg$ent th$ir report wilh the financial statamènts of th& charity for th8 year ended 31 March 2Q24. Th8 trL5St885 hav8 8dopt8d th8 provisions of A¢wunling and Reporbng by Charities.. Statement of Recommended Practi applicable to charities pparing their accounts in accord8nce with the Flnanclal Reportlng stsndaro appllcaue In the UK and Republlc of Ireland IFRS 1021 leffeciive 1 January 2019). Struduro. G•vornan¢• and Manag•m•nt Care & Repair Cymru 2015 Ltd is a national charity that actively works to ensure that older people {homeowner5 and priv818 tenants) in W8198 can live independently in safe, warm, a¢¢essible homes. The Memorandum an¢J ArU¢les ol Associath)n ol Care & Repair Cymru 2015 Ltd were adopted by Special Resolution dateil 5 May 2015. Regi5trion with the Charity Commlssion was on 14 septemb 2015. The Directors, as charity Trustees, h8vg control of Ihe Charity and are ¢glle¢tively known as the Board of Management. The Board of Managernent when complete consists d a minimum of seven individua15 ond a m&ximum of eleven lal up to Trustees elected by the Members ol the Charity Ilhe 'Elected T¥ustees'l,' and up to two TfUSt88S 8pw)inted by the Board fn)m the Care & Repair Agency Representative Group (the.Appnted Ibl Trustees") The Elected Tru$tg8s shall elected by the Members at the AGM (subject to article 10.131 by belkot In such a manner es the Chalr of the meeting directs. On8 third loi the number rare$l, but not less than one thirdl of the Eected Trustees must refire each year atthe AGM. Appointed Trustees shall be appointed and rernoved from time to tirnB by the Truste85 af the Charity. Trustees may detemilne the practice by which it makes any such deci8n8 regarding appointrnenls or removals of Appoint8d Truslees. The Trustees shall, at every AGM, elect a Chair frLxn amonsst Iheir own number to hold offic8. The maximum temi of offic£ is five years and the Chair must at all limes remain a Truslee and Member of the Charity. None of the trustees Ceive remun8raon oth8r than out of pock8t expense5 from their work with the charity. Our tsbjectives and actlvltles As a r8gistèr8d charity our objectives are to.. la} Alone or in conjunc.0 with others lincluding thtr C8rè & R8pairAgènciès raferred to below) to rèlieve the needs of people in Wales who are disadvantaged by re8son of 89è, ill-health, or disability I'disadvantaged people"). and in particular their housing need5. for the puWi¢ benefit by.. i} Championing the housing needs ol disadvantaged people living In owner occupied and private rented housing through the effective national lobbying and mntinued development of national partnerships.. ill Promoting the linkages beNveen health, housing and soclal care.. illl Rese8rching, publicising. campaigning, and raising public awareness about h)using problems faced by disadvantaged peop, and suggesting suitable policy and service solutions to govemTh8nt, 518tutory bod8, educational establishments and third sector lo alleviate such housing needs.. and iv) Pfovision of services that help identify, publicise, arKJ 811eviate housing need5 laced by disadvantaged people. {b} PrornDt8 the voluntary sector by promoting the efficiency and effectiveness of voluntary OFg&nisats"un5 working to relieve the needs of ijisadvantaged people in Wales for the berEfit of the public by: 11 Provldlng services and advice lo Care & Repair Agencies in Wales on grarbt furKling appli¢ab"ons. and Information on the performance of Care & Repair Agencies across Wales oul¢omes achieved for disadvantaged people., ii) Ptomoling Care & Repair seNces through all media. strategic. political. and volurbtary nelworks.. iiil Inlorming. advising, and supporting Car2 & Repair Agencies to deliver services that adyress indNidual dlsadvantsged people's housing needs- Iv) IAdvising Care & Repair Agencies on mattgr8 relating to thg CufntpolltIC41, eeonomlc, and demographlc changes that impact on the INes of disadvantaged people- v) Safeguarding the values. slandards. service qualty and brand ollhe Care & Repair MDvemeni rthe Movement") and developing good practice guidance and sound inforrnation. Page 1
Car• & R¢p•lr Cymru 2015 IR•9lst•r•d number: 095745551 R¢port of the Trustees for ¢he Year Ended 31 March 2024 vil Prot8ctsng subslanli81 public monies invested in Iha Movement by d8veloping robust systems that monitor and èvaluaté Ihe quality of services and OLrtcom&8 dolivefed,. and vlll Providing a trusted and experionc8d platfom) for<lobate, innovation, and infomiation cffj the housing needs of dt58dvantaged peopk in Wales. In shaping our obje¢tives. the trustees have considered the Charity Commission's guidance on public benefit. including the guldan¢e'publl¢ benefit running a charity IPB21. Organlsatlon and staffing Staffing establishment durin9 2023-24 was 16114 FfE51. an increase of 3 slaff12.2 FTEI compared to 2023-24. During the year. theie were no kavers and four new recruits Icorporate Services Officer, Hardship Funds Administrator. Pdicy and FurKling Offir and Funding and Partner8hips Officer). Two elected Board members resigned at the September AGM. and with one existlng vr, three new elected rrmber8 joined the Board at th¢ AGM. Two A9en¢y Chairn reprexntatwes Mere 8180 appolnted by the Bobrd at the AGM. Post pandemic. th8 organisation conW'nued to work successlully under our 2022 Hybrid Working Policy, with 3taff working at18èst two days in the offic8 and three days remote wort(ing. We were pleased to be one Of jvst ten winners of the UK %Mde prestig'ous GSK and Kings Fund Heatth Impact Awèid. bringing us reCognitn for the heallh impatt of i)ui work. £41,000 unrestricted IncDmè, prolessionally produced publicity videos, and three-day Leadership Training for two of our senr rnanagers, supporting our sU(LeSsn planning plans in 2025. Achievamonts and Porforman¢o Front line outcomes deliv•r and Bupport•d. We continued to 18ad and support Care & Repair Ageno&s 8nd represented Care & Repair nationally 8t Welsh Govemment lev81. The level of service delivered saw a significant incrtase, compared to 2022123. wlth 24% more serViS delivered to support Older people to live independently at home. 10% wnore improvemenl work$ ¢pleted. 19•k increased value of wo$ cornpleted, and a 3fA inuèase in unclaimtrd benefits accessed for our benefieiari8s. Our leadership. direct activities, fundr8ising. and support helped deliver the following outcomes for older people living in poor housing in 2023124.. 87,606154.311)1+24%1 combined Servi types deliver8d to Support safe Independent Ilving at home. £21.8 mllllon {£18.3ml {+19%1 houslng rapair arHJ improvement work across all our $8fViC8S 60,258 I54,52411•10%1 jots completed. These jobs included 19,023120.438) I.PAI Rapid Reswse Adaptations. supportlng hosthl discharges. and preventing admissM)ns to hospi1818nd residenl¢al care. 91%1+1%1 told us that theiw independence and wellb&ing had improved. 96% l+OY•l told us they would recoTnmend Care & Repair to others. £12.56 mllllon {+32%1 of uncl3irned benefit entitlamgnts ¢laimed for olderpeople across all our services. helping beneficiaries to better afford food, transptsrt and pay energy and other bills 32491+18°hl people with sensory loss, strok8 and dementia stspwte(I to Ad8Pt their homes and live independ8nUy through our specialist'managing Bettert servi. 46851430211+gYèl palienlg suppnrted wtth a ouirker Safe d15r.h8rge hoTTte throuah Dur"Hospital to • Healthier Home service based in 17 hospltsls a¢ross Wales. We undertook 2845127771 Healthy Homes Assessmèrts followin9 which 6425172201 home improvement and adaptations jobs We completed with £1.64m1£1.TTI million In grants a¢ssed for patients tr) pay for this work This led to an estimated 25.968 bed days saved_ 135 Care & Repair Agency clients helped through our hardship fijnds, helping alleviate fvel poverty, tacklirng unsafe installations. and older perjple living in p(Jor USing wnditions with a tolal cosl of works nf £177..fj28. of which Dur hardship funds COntrbuted £59.832. oth•r work to support Car• & R•pair Agancie5, dfyvelop and Smprov• s•vices'. Managed the n81ion8I SLA far H2HH and led work with LH85 on funding services. Successfully achleved lunding ft)r 8 fvrlher year of Hospital to a Healthiei Home funding from four local health boarrls, April 2024 to fvtsrch 2025, and 5 months funding from one health board, while a single lender commlssioning process is put in Pl lor 3 years future funding. Funding of £488,438 in 2024-25 bMII enable the Servi to continue in 17 hospitals, Page 2
Care & Repalr Cymru 2015 (Roglstored nUrnr: 095745551 Reportof the Trustees for th• Yèar End 31 March 2024 In year successful application to WG for £1 million additional RRAP funding ffx C&R Aggniies1£500,000 2023-24. and £500,000 in 2024-251. Conltnugd WO on the design and development of thè new bespoke CRM and reporting dal8bas8 forth8 whol6 Movetllent. Prepareo and presented perfomiance Evaluauon Reports to Boards of all C&R Agencles, to h8lp $upwrt good goveman¢e in perfom)ance monltoring. Held consultation ovents with Agency Chief Officers and Chairs and developed a new Five-year Strategy for Care & Repair. with further Work and CfFprodu¢tion to follow durfng 2024 on priority setting and action plann¥ lo meet the objectlV8s set. Throu9h our Policy and Public Affairs Work, developed a key ask of a iiew Safety Ngt Grant for tacklin9 s¢riou8 and urgent houslng dISpaIr lor Care & Repair ¢lients, and progressing thB ask with the senior poliliciarh5 8nd civil servants in Welsh Govemrrent. R•pr•$•ntation, advo¢acy, policy and influencing work.. Signfficant work was vndertaken to influ¢r¢ government policy, represent the needs of ¢Jlder people, and share key policy updates and good pracbce with Care & Repair Ag8nCl8s. Highlights a as folltYWS'. Published two new reports. Older People and Poverty this Winterf. and'From Wear an(J Tearto Disrepair. aloNg5ide mèdia and political pick-up. Prepared the following written Subrnissons'. Eighl Welsh Government consultations ill Three UK Govemment consultations illl Five Olgem consultatH)ns iv) Two Senedd arnd two UK Govarnm8nt committees vl Two miscellaneous submissions to (yJn5ultations. Gave or21 eVIden to the Housing and L1 Govemment Crynrnittee on th8 Priv8t8 R8nt8¢J Sector. Various pIesetationS on our rnain key asks. including 8 'safety-net grant for h8Z8rdous disrepairt In older people's homes to ext8mal stakeholders, induding Ministerial Advisrjry Forum on Ageing, and Lo&91 Ctsuneillors. Provided a bri8fing of political and policy developments from govemments and stakeholder5 ev8ry weék to CRC staff and Agency Chief Officers, with ad hoc additi"on81 de8Trdive briefings. Panellist at the Tai Pawb Conference on'Equality in Housing - Aty We There Ye. Panellist at the N8tional Energy Action Conference on 'Housing and Health. meeb.ng with Health and Social Care Minister ¥a WCVA Health Social Care Group. Bècarne sÈcret8riat lor thè Cross-Party Group on Housing. Cab. Sec lor Housing and Local Government agreed in prin¢iple lo look at our ask lor 8 housing salety-rnet granl, providing written evidence for ongoing dialogue. Continue to repsent Care & Repair at stakeholder groups including.. Ministerial Advisory Forum on Ageing IMAFAI lil WG Fuel Povèrty Advisory Panèl. iiil Age Allian Wal8S. iv) VI Chair of Ihe Wales Prudent Falls Prevention Task Force vl Cross-Party Groups on Housing. Energy Efficiency, Older PooplelAgolng and Intgrgtrnoratlornal Solldarity. vil Fuél Poverty Coalitil Cymru. vill Doital Inclusion Alliance Wales viii Horne First CommUty ol Pra¢ti¢e, Auommodation Basèd Soluts'ons Community of Prac'ce, and Goal 6 ActKJn Gioup lor Six ¢ka15 for Urgenl and Ernergency C8r8. ix) WG Healih & Social Carg Planning Group. PR. Communlcatit)ns and Markaling Soma ofth8 koy highlMJhts and aChVeMeNts were.. BBC Wales ftews ple on our disrepair ask and The Stste of Older Peo$,$ Htsusin9 in Wales report. Indudln9 interview with our CEO and a rlient froffl North Wales. New Style Guide document ¢realed for CRC staff Joined Senedd event with C&R stand for NHS 75th anniversary celebrations Falls Awareness Week IFAWI 2023 - media Goverage on BBC and Newyddion, and falls'crime scene. created with 360 camera. Pag8 3
Care & R•palr Cymru 2015 IReglst•red numbgr: 095745551 Report of th• Tw$t•o$ for the Year Endod 31 Mar¢h 2024 Four ngw Managing Better vidaos atKJUt Ihg partnership and casg studi6s - shown at C&R Conference and National Eye Confgrenca. Confe¥ence- marketing, social media, p18nning, coordinating, QR Codgs, programrre, banners, printed materSals, elc. Care & Repalr Brand Guldellnes uix13ied and shared al Conference Annual Report written and published, highlighling the successes ol the whthe movement. Christmas Gift Box Appeal in collaboralion with Age Cymru and Age Connects New national and local leaflets created and distributed Launch ol Care 8 Repair Amb8ssadors scheme- an off cial way for clients to volunteer and to share tsir 3lories 2024 GSK IMPACT Award Winner Launch of new seivice Older Not Cokjer {Lauh Facebook post reached more Ih8n 45,000 peoe) Fundralsing and Income Our fundraising and incom8 gerheration work during 2023-24 raised 8 total of £161.115. Some highlights were.. £12,152 from Annual Conf¥ren¢ £40,000 from GSK and Kin9s Fund Heallh Impact Awa £5.250 from wr Gorrw8rcia mernbership schemè. £49,256 frorn project management ol Hospital lo a Healthi8r Home, Electrical Salgty Council Plardship Fund. Oldèr Not Cold&r (Wales & Wosl Ul'litiesl.and Natwal Lottery Cornmunity Fund Hardship Fund, Cliont Engaggmenl Work (Managing B8tterl. £7,126 from desk r8ntsl and rneeling room hire. £1,862 generdl dwalions. £15,470 bank inler8sI. £30,000 from our corpor2t8 partnorship with Wales & West Utiliti8$. Flnanelal R•¥l•w The Charitable Company is reporting total funds carrled I(>ard of £247,440 for the year ended 31 March 2024 compared lo £80,753 for the Pfevious period. There Br8 thrèe main asOnS for Ihe increasè in net 8ssels- un5penl resiricted funds of £143.185 for Ihe Older not Colder Ptoject. £4.847 for Hospital to Healthier Horn95 Gwent RIF and the GSK Impacl Award of £40,000. The reason for the increase in our balance sheet in 2023-24 is Ihe increase in restrlcted fiJnd5, W81es & Wesl ulItIeS for Older Not Colder1£143,1851. Aneurin Bevan Hospit81 to Health Home Gwent RIF1£4,8471 and a srnall decrease in the pension deficit amount of £3,000 from the annual revalualion. In addition, Ihe charity performed very well on income generation, returrTing a surplus 01 £75,224. This represents a wod financial year, achievèd by good fin8naal planning and in year financval management. ènd a piuderht approach. Care & Repair Cymru s policy is to hold general unrestricted reserves to cover at lèast thr88 months ryoniraclual requirements n the unlik8ly event of the charity winding down. The rnain costs would include redundancy payments, contractual seNice commitrnents and other winding down costs. The current reserves tsrgel was set in February 2024 at £258.331. The surplus ol unrestricted free resVe$ over #nd above this 15 £108.496, and trustees will consider appropriate Ltse of this dunng 2024125. Tmst8es #re acutely aware of the financial challenges faced by the organisation, induding the pension deficit. and risks to gffdnt and project funding. We repay iegular annual amunts, as agreed with The Pensions Trust Retirement SeNices ITPTI, which serves to reilLKe Care & Repair Cymru's FEnsion ddfiryt amount every year. We regularly r8c8ive reports and partiapate in discussions on financial strategy. through ouarterty Board rneeting5, and Board Planning days, the next of which will be held during Octobèr 2024. Our Finance and Risk Committ£8 apply 8ddilional scrutiny to our finances, fin8nual pl8nning. 8nd risk management al 1È8St three lirlles 8 year. We plan lor diff&rèni financial risks and have 18ken 8 long-tèm) 8pproach lo sustainability and divetsifying ovr incorne streams through an intt)m8 genèration strategy that commenced in 2015. Since then, our funds and income have become more diversè, and we continue to invesl in Income generation and applications lo Tnjsis, Foundations, Nation81 Lottery, and others. Through regular communi¢alions be88 th8 Board and CEO, Iruslees consider future funding strategy and priorities Ihal help support finanoal sust8in8bility. In the slruclure, thèrè is cumnuy a PR #nd Business Devalopm8nt Manager, and Funding and P8rtnerships Officer. partly financed through desbgnated reserves. who work on fvn(Jing 8ppllcalions, income gen8r8lknn and new business developmenl. Page 4
Care & Repalr Cyimru 2015 (Roglslfrred number: 095745551 R•port of th• TN$t¢•s for the Y•ar End•d 31 Mr¢h 2024 As trustees. we reco9nise that granl funding and oth8r sotsrc8s of funding raquira constanl hard work, with no quick fixes. Our strategy is that W8 will continue lo invest rfrsour¢gs inlo rgtaTrning Corg grant funding, prtsigct dèvalopm8nt and sustainability, tncorn8 gtrneratlon and business devek)pmenl durlng 2024-25. Due to the planned reliremgnl ol th8 Haad of Agancy Support & Development in April 2025 a review of the stsff structure will be undertaken in the second quart¥ of 2024-25. This organisalional revlw4 and our future Stsfflng stwcture wlll contlnue to conslder finandal sustalnablllly. relation lo the OTgani88tion being a "going wn[. over the 12 rnonlhs frorn July 2024, trustees are satSsfied that th1$ Is the case This is because our Iwo key grant funding streams (core and Managtng Betterl have been wnfirmed for 2024-25 by Welsh Govemmenl. Trustees have approved a balanced budget in 2024-5 with a prudent income and fundr8ising t8rg8t lo supplwenl granl funding. The income lar9et is lower than previou5 years and is prudent and achEvable, with niany incorne slfeaTTlS being iobust and in place long t. As mentioned above, we also have hethy levels of reseNe5. However, lundlng after March 2025 is yet lo be confirmed. As outlined above. trustees are aware of and have plans in place to tackle future financial thallenges. Hwever, charity doe5 rely on annual 9rant funding 8nd tru8tees are 8w8re of the wntinued potentiBI lon9-t8rm finan¢ial pressures ar ri* to economic stability from the continuing wars in Ukraire and Middle Ea3t. as well as political uncertainty in the JK. Risk Manag•mont Truslees review risks facing Ihe charity on a regula basis at Board meetlngs, In line with its adopted risk managemenl poliry. The Risk Register Is dIs¢Ued and 5rrutinised guLaY and in more detsll by the FlnanGe & Risk Committee. Acknowlodgemonts As Trustees of Care & Repalr Cymru, we would like lo tharlo everyone involved in our work ¢Juring 2023.24. in particular Care & Repair Agencies, Welsh Government, national and local partners, third sector partners, and all our funder5, We would a150 like to thank all our staff toam at C4rg & Rèpalr Cymru for their hai¢Y work in dgliv¢ring a range of diffèrènt 8ervic8s, and for makin9 such difference to the quality of lrfe of older people across Wales. StNcture. governanee and management Governing document Th• ¢harily is conlrolled by its goveming documpnL a d88d of trust. and constitutes 8 hmite(I company. linited by guarantee. as defi by the Companies Act 2006. Pagg 5
Care & Repalr Cwnru 2015 IR•glslèr¢d number. 095745551 R•port of the TNstees f¢r the Y•*r Ended 31 March 2024 Reference and admln151ratlve detalls Regs¢ered Company NuMr 09574555 (England and Wal8sI Reglstered Charlty Number 1163542 Roglstered Offlc• Mariners House Trident Court E8sl Moor5 Road Cardff CF24 STD Tnmtegs Chairperson Sarah Wi118y Individual Vice Choir Andrew Vye Indlvldual Treasurer Fay Sather18y Individual Trustees Christopher 8inding Gwynne Jones Rhodri Dawies Clare Strowbridy8 Eliz&b&th W8rwick Sally Davies Rhodri (en John Hunt Kan Athanalos Neil Bradshaw Agency Respresentative Agency Respr8santstive Individual Individual Wales & West Utilities Individual Individual Individual Indivi¢Jual Ir1VIdUal Appointed September23 Resigned Septembar23 Resigned Sèptember23 Appointed September 23 poinled September 23 A¥Jpointed Sèptémber 23 C(kopted Rhodri th¥èn Individual Appointèd Septembér 23 Wélsh Local Govemment AssocialK)n ObseTrers Jim McKirdlè Honorary Vic& Pdnt Sharon Mainwarino Individual Chi81 Exe¢ulive Chris Jon6s Se¢tary Chris Jonès ststutory Audltors Haines Watts Wales LLP 7 Neptune Court Vanguard Vvay Cardiff CF24 5PJ Stat•mènt of tru$tees' r9$porlblllllOs The trustees Iwho are also the directors of Care & Repair Cymiu 2015 for the purposes of cthnpany lawl are responsible for preparing the Report of the Trustees and the financial slatements in accordance with applicable law and United Kingdom Acccwnting Slandards (Uniled Kingdom Gernerally Aepted AccountirrfJ Practi}. Pag8 6
Car• & Repalr 20151R•gl$tor•d number: 09574555} Report of the Tst$ for thè Y•ar Endèd 31 March 2024 Statement of trustees. r•sponslbllltlgs-contlnu•d Company law qUireS thg trustgès to prapare financial statements for each financial year which give a true and fair vi8w ol the stsle of affairs of the ¢harilabl& wnpany and ol the incoming resources and application of resources, including the income and expendlture, ot the chamtable company forthat perfod. In prepartng those flnandal statements, the trust8gS 8re requlrBd to sdect suitable ac¢ounting pollryes and then apply them consistently, observe the rnethods and principles the Charity SORP., make judgernenls and estirnalBs that are aSOnable and prudenl., prepare Ihe finaTrcial sialernents 011 the going ctsncem basis unless il is inappFDpriate lo presume Ihat th8 ¢1)grltable cornparby will continue in business. The trusteos aro responsible for keeping proper accountin9 records which dls¢103tr th reasonable accvracy at any time Ihe financial position of the charitsble company and to gnable thern to ensure that the financial statements coff(Jly with the CoMpanS Act 2006. They ere also responsible for safeguarding the asjets of the charitable company ond hence for Igking re2¥on8ble ¥tep$ for the prevernlion and detection of fraud and other irregularrties. In so far as the tru51e8s are awar8'. there is no welevant wdit information of which the charitabk company's auditors are unaware,. and the trustees have taken all steps that they ought to have tsken to make themselves awafft of any relevant audit information and to establish ttTrat the audilors are 8waFe of that information. Auditors Th8 auditors, Hain88 Watts Wa16s LLP, Statutory Audito. will be proposed for re.appointm8rnt at the forthcoming Annual General Meeting. Approv by order of the board of INstee$ on 9 Juty 2024 a1 signed on its behalf by: S Willey- Trustee Pago 7
Report of th• Ind•pendent Audttars to th• M•mbers of Care & R8palr Cymru 2015 Oplnlon We have audiigd the flfjancial statements of Care & Ropair Cymru 2015 Ilhe '¢harltable cornpany'l for the year ended 31 March 2024 which comprise the Ststemnt of Financial Acts'wts'gs. the Balan( Shéet, the Cash Flow Stalemgnl and notes lo the financial stslemonts. Induding a summary of signiflcanl accounting policigs. The financial reporting fram&wDrk that has been applied in their preparallon Is applicable law and Unilgd Kingdom Accountin9 Standerds (United Kingdom Gengrally Acceptgd Accounting Pr8c1icel- In our opinion the financial statemenls.. give a tiue and fair view of the stste of the charilable company's affairs a3 al 31 March 2024 and Of ts incoming reswrces and 8pplicatic of resources. indudiny its income and expendilure, lor the year then ended., have beon property prepare(J in accordance with United Kingdom Generally Accepted Accounts'ng practi., and have been prepared in arxordènre with the requ8nts ol the Companies A¢1 2006. Ba8F¥ for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII ar applicable law Our responsibilibes under thr)se stsndards are further described in the Auditors, resporK8ibilitigs for the audit ol the finantial statemenls section of our rgport. We are indEpendent of lh& ¢hartt8ble comp8ny accordance with the ethir£l requirement8 Ihat are relevant to our avdit of the financial statements in the UK. including the FRC'$ Ethical Standard, and wè have fulfilled 0 other ethie81 responsibilities in accordance with these requirements. We believe that the audit evidence wè h8V8 obtained is sufficient and appfopriale to provide a basls for our Opinn. Conclusions r•latlng to Boing concern In au(Siting the fnancIal statements. we have concluded that the tru5te8s' use of the going eortem ba8Ps of accounting In thè preparation of Ihe financial statemenLs 15 appropriale. Based on the work WÈ have perforrned, we have not identrfied any material uThcertaintie5 relating to events or con¢Jitions IhaL irKlivklually or coll8Ctiv$ly, cast significant doubt on the charitable company's ability to continu8 a6 a grn9 concBin for a p8riod of at least tWee months from when th8 Iinancial Statements a authorised for issue. Our reSponsilitieS and the reswnsibilities of the trustees with respect to going concern 8r8 dèscribed in Ihe relevant sectiLffi$ of this pOrt. Other Information The Iiustees are responsible for the olher information. The other information comprises Ihe information included in the Annu81 R8rt. other than the fnancial statements and our Report ofthè Incsependent Audrtors thereon. Our OnIOn on the financial st8lemènts does not cover the olher infomalion and, 8xe6pt to thé èxtÈnt olherwise exKAiatly staled in our report. W8 do noi exwess any fom of assuryance ¢ondusion therècn. In connection with our audit th the finan(xal st8ternents. our responsibility is to read the other inform8ts.on 8nd, in doing so, consider whether thè other information is matèrially inconsistent w41h the financial statements or our knowledge obtained in the audit or otherwise appears lo be materially misslaled. 11 we identify $u¢h material inconsistències or apparent material missiatemÈnls, we are quired lo dotermine whether this gives rise lo a material misstatemènt in the financial slalements thèmselves. 11. b8sed the work we havè pérformay. we condude that the is a malerial misstat8mènl ol lttis other informalion, w8 S qUIred lo report thai fact. WB havè nothing lo report in this r898rd. Oplnlons on oth•r matters prescrlbèd by the Companles Act 2006 In our opinion, based on the WOf undertaken in the COLJrse ol the audit= the information given in the Report of th& Twslees IL)r mè financial year for whlch the finanrAal statements are prepared is consistonl with tho financial stalemonts,. and the Rept of the Trustees has been prèpared In accordance wth applicablo leg81 requirgments. Pago 8
R•port of thè Indepèndènt Ad¢r$ lo th• M•mbors of Care & Repalr Cymru 2015 Matters +)n whl¢h w• ar• requ1 io r•port by ¢x¢•ptlon In tho light ol thè kn¢)wl8dge and und8rslanding of thg ¢harilable mpanY and its environmpnl obtsined in Ihg coursg of Ihe aud, we hav8 not idents'figd rnalerial misslalemenls in the Report of the Trustees We have nothing to report in respect of Ihe following matters where the Compantes Act 2006 requires us to report to you if, in our oplnlon.. adequate 8ccounling records have nol been kept or returns adequale for our audit have not been received frorn branches not visited by us., or the finanual statements are nol in agreement with the accounting records and retums: or certain discknsures ol trustees, remuneratK)n specified by law are not made.. or we have not re¢elved all Ihe IiiforntIOr1 81)d exptsnalions we require for our avdil," or the trustees were not entitled lo take advantage of the srnall COFnpanies exemption Iiom Ihe wuiremenl lo prepare a Strategic RekY)rt or in preparing the Report of the Trustees. Rg$pon$lbllltl•$ of tru$tws As e¥plained MO fully in the Stotement of Trustees, Respon5ibilitie3. the trustees (who 8re also the directors of the Ghgritable company for the purposes of company lawl are responsible for Ihe preparation of the financial slatemefils and for tseing satisfied that Ihey give a true and fair view, and lor such intemal control as the trustees determine is necessary to enable the preparalk?n of financL81 statements that are free from material mlsststement. whether due to frÈud or error. In preparing the finanal statements, the trustees are responsible for assIng the charitable company's ability to continue going concern. disclosing, as applicable. matters related to going COnM and uslng Ihe going concern basis of accounting vnless the trustees either intend to liquidate the charitable company or to eea5e iJperatK)ns. or have realisl'c altemative but to do so. Pago 9
Report of the Independent Audlt¢rs to tho Members of Caro & Repalr Cymru 2015 Our r•$ponslblllll•$ for th¢ audll of the flnanclal statem•nts Oui )bj¢ctives are to obtain reasonable assurance about whether th$ financial statements as a whole ara freè from matèrial missl8temènt, wh8th8r due to fraud or orror. and to ISSiJb a Rewrt of tho Indgpgndont Auditors that includès our opinion Reasonable assvrance is a high level of assurance, bvl is not a gu8ranlee that an audit conduct8d in accordance with ISAS IUKI will always delect a material misstalemeni when il exists. Misslalements can arise from fraud or error and a conside& material 11, Indlvidually or In the aggregate, they could reasonably be expected lo Influence the economlc declslons of users taken on ihg basis of these fftnanci81 ststements. The ext8nt to which our procedures are ¢apable of detecting irregularibes, including fraud 1$ detalled bek)w.' Our planiiing procedure$ Ideiillfy the le9al and regulatory franiework8 applicabie lo the operations financial statements of the ¢¢)mp8ny. These are reviewed internally with the audlt team in¢luding relevant industry experience and expectations as well as externally with the client management. The key laws and regulations we considered in this contèxt were the UK Companies Act 2006, Charities SORP IFRS 1021 'Accounting onrt Reporting by Charities-. Ststement of Recorntnendeo Practe applicable to charities preparing their accounts in accDrdance with the Financial Reporting Standatd Appli(xble in the UK and Republic ol Ir¢land', UK GAAP IFRS 1021 and relevonl tax legiatIon. Onc identifi8d. we assess the rtsks of material misstatement5 in relation to the laws and regulatlons. Irregularhies, ixluding fraud 8nd adjust our le5ting accordingly. Our audit procedures include. Dlscussing wlth Trnstee5 and menagernent which areas of Ih& buslness they bdieve to be more Susceptible to fraud, and whether they have any knowledge or suspicion of fraudulent activities". Obtaining an understanding ol the key controls Put in pla by the company to address rtsks identifiéd. assessing the gffecliveness Df those discusslng how these are maintained and monitored intemally,. - Assessing the risk ol management override and review and tests'ng oljournal entries rnle into th8 accounting system., Challenging assumptions and judgoThgnts mado by the company in relation to th9 significant accounting estimate8 8fflplod In the weparatK)n of the financial statements., Discussing with Trustees and Manag&ment lh8 legal and regulatory obligations of the businèss and wh8th9r they have any knowledge or suswcion of non compliance. Despite the audit being plannad and conducted in accordance wilh ISAS IUKI therè rèmains sn unavoid8ble risk that material misstatements in the financlal Statements may nul be detected Dwillg to inherent limitslions of the audit. and thal by th8ir very n8turÉ, any such instances of fraud Dr irregulari&'es likely involv8 collusion. forgery, intentional mistepresenlation, or thè overnde of intemal contrds. A further descJiplion of our rsponsibilitiÈs for the audit of the financial slalements is locatad on Ihe FnanCial Repcrting Council's W8bsitè 8t www.frc.org.uklauditorsrespKnsibiIi.es. This Oèscription fm5 part of our Report ol Ihe Independent Auditors. Usè of our report This pOrt is ae solely lo charitable company's members, as 8 body. in accordance th Chaptèr 3 of Part 16 of the Companies Act 2006. Our audit work h8s been undertaken so that we might slate to thè ch8ril8ble compan5 members Ihose mattèrs wè arè réquired Its state lo Ihem irn an aLtditors' re a1 for no other purpose. To the fulle51 extent pemiitte¢J by18w, we do not accept or assume responsibility lo anyone other an thé charitable ¢ompany and the charitable cc¥npanls m&mbÉrs as a body. lor r audit worK for this report, or for the opinions wg have formed. Victrrria Carlgr (Senlor Slalutory Audilorl for and on behalf of Haines Watts Wales LLP, Siaiutory Audilors 7 Nèptune Court Vanguard Way Cardiff CF24 5PJ 6 August 2024 Page 10
Car• & Repalr Cymru 2015 Statem•nt of Flnanclal Aetlvltl8S for thè Year Endad 31 Mar¢h 2024 2024 Total lund6 2023 Totsl funds Unr•strlct8d funds R•8trlct•d ld$ Income and endowmgnts from Donations art legacies 73,735 73,735 32,462 Ch4rit4ble activities Charitable 8Ctwities 630,316 1.450,159 2,080,475 2,117,589 Investment in¢omg Other inrne Total 21.662 70.420 21,662 70,420 2,246,2g2 9,828 80,728 2.240.607 1.450.159 Expenditure o Raising funds 3.870 3.870 729 Charltable a¢tlvltlès Charitabla activities Tota 702 809 706.679 1311926 1,311,926 2Q14 735 2,01&,605 2 161773 2,162,502 NET INCOME Transfers heten fvnds Other recognised gainslllosses) Actuarial gainslllosse31 on defined benefil schemes Net mov•rn•nt in funds 89.454 11,019) 138,233 1,019 227,687 78,105 20 27,435 139,252 166,687 29,105 R•conclllation of funds Total funds brought forward 57.219 80,753 51,648 Total fundm calrled forward 247 440 The notes lorm part ofthese financial ststemenls Pag811
Care & Repalr Cymru 2015(R•9lsted numb•r: 095745551 Balance Shèet 31 March 2024 2024 Total funds 2023 Totsl funds Unr•strlet•d funds Restrlcted funds Note$ Flx$d a¥$•ts Intsngible assets Tan9ibl¢ assets 14 13, 13,806 17.408 29,816 29,818 25,505 Current assets Debtors Cash at bank a1 in hand 16 82,816 626518 709,334 82.816 789 303 872,119 183,230 513,690 696,920 162.785 162,785 Creditors Amounts fallin9 due within one year 17 {289,4951 1289.49SI 1273,6721 Net current assets 419 839 162.785 582,624 423,248 Tolal assets 16s$ (rent liabilities 449,655 1fj2,785 612,440 448,753 Credilors Arnounls falling due after morè than one year 18 {365.0001 I365,0} 1368.0001 NeT A88ET8 Funds Unrestricted funds Restricted funds Total funds 247 440 84,655 162,785 247 440 57,219 23,534 Th8se financial sialtrmen15 have been prBpar8d in ardance with tho provisions applicablg to charitable compani8s subj8¢t kj th& small companbs r8gime. The fianCial 5tatetHenls were approved by Ihe Board of Tru3tees and authofi5etJ for i&sue on 9 July 2024 and werp 5ignpd gn it8 behalf by.. S Willey - Trustee The notes fomi part of these financial statements Page 12
Car• & Repalr CyThN 2015 Cash Flow Stsl•m•nt for th• Year Endgd 31 March 2024 2024 2023 Not•8 Ca$h flow$ from 0ratIng a¢lfvltl•$ Cash generat8d from operatlons Net cash prov*Jed byllused inl operating actiMtie5 272 740 272 740 68 8531 68 853) Ca$h flows from Investlng actlvltles Purchase of inlangTrble fiyed assets Purchase of tan9lble fixed assets Interest re¢eived Net cash provlded byllused Inl Investing a¢tlvlUes 118.OD81 {8,0511 112.5971 15470 28 6151 Change In sh and cash 8qufvalonts In the reportlng perlod Cash and cash equival•nt8 at th• bo9inning of the reporting period Cash and cash gquival8nts at tho ond ot the reportlng p•rlod 275.613 197,4681 513.690 611,158 513.690 The notes fom part ofthese finanual stalemènls Pagg 13
Care & Rèpalr Cymru 2015 Notes to th? Cash Flow Stat•m•nl for the Year Ended 31 Mayeh 2024 Reconclllatlon of n•t Income to net cash flow from 0ratIng act5vStFe8 2024 2023 N•t Income for the r8POrtlng per1 la$ pèr the Ststement 91 Flnan¢lal Aetlvltiesl Adjustments for: Depreciation charges Interest recelved Decreasellincreas81 in d8btor3 Increase in Gredilor5 Drfference bemeen penslon charge and ca3h contribul'ons Net cash provklèd byllu$od Irbl operatlons 227.687 78.105 8.286 115.4701 100.414 12,823 61,000 272 740 4.966 2.556 1111.4381 22.958 Analys15 of chan995 In net funds At 1.4.23 Cash Ilow At 31.3.24 Net ¢a$h Cash at bank and in hand 513690 513690 513690 275013 275613 275613 789 303 789 303 Total The notes forni part ofth&se financaal slalements Page 14
Caro & Repalr Cymru 2015
Not0$ to the Flnan¢lal Stat¥m•nt$
for the Year Ended 31 March 2024
A¢¢ountlng poll¢le$
Bas1¥ of preparlng the financlal statements
The financial statements of the charitable company, which is a public benefit enlily under FRS 102. have been ppared in
accordance wllh ¢he Charlties SORP IFRS 1021 'Ac¢ountlng ana Reportlng by CharflSes.' Stalemeni of Recommed
Pradice applicable to charities preparing their accowts in accordan¢e with the Finan¢ial Reporting Standard applicable in
the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191,. Financial Reporting Stsndard 102 The Financial
Reportsng Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financlal slments
have been prepared under the hislorical cost convents'on.
Income
All income is recognised in the Statement crf Financial Activibes once the charity has entitlement to the funds, It Is probable
that the incomè will be received and the amDUlIt can be measured reliably.
Cay donations are recognised on receipt_ Other donations are rocognl$ed on¢e the charity has been llotified of the
donation. unless perfomiance conditions require deferral of the arrount_ Income tsx recoverable in relatson to donations
fec&ved under Gift Ald or deeds of covenant Is reccgnised at the lime of the donation.
Contracted income is recognised in the period In whlch the servlce is provKled any amounts received in advance being
deferred.
Exp8ndltur•
Liabilitie5 are Tecoyni5ed os expenditure as soon as there is a legal or conslructive obligalion committing the charity to that
expenditure. it 15 probable that a transfer of econombc benefits wlll be requiied in settlement and the amount of the
obligatKsn can b8 me88ured reliably. Expgnditur9 is accountgd for on an accruals basis and has been classified under
headings that sggregate all cost related to the cate90ry. Where cos15 cannot be direcly attribuled to partiLwlar he8ding5
they have be8n allocated to activitie5 on a basis consistent the use of resources.
Intsn9ible fixed assets
Amrtisation is provided at the following annual ratss on ordèrto writ8 olf 8ath asset over its estimaied useful lrfe.
W8bsite costs- 2LI% Dn eost
Tangible rued assets
Depreciation is provided at the fallowing 8nnu81 r8tes in or
Carn & R¢palr Cymru 2015 Not•s to th• Flnanclal Statements. contlnued for th Year Ended 31 March 2024 Oonatlon$ and l¢gacl 2024 2023 DonalK)n$ In¥tment In¢om• 2024 2023 Rents received Deposlt account Interest 6,192 6,192 Income from eharltabl• actlvltbes 2024 2023 A¢tlvlty Charbtsble acttvi'es Charitsble activiti'es Agenry training & conferen$ Welsh Government Welsh Government- Managing Better Local H&allh BoarLI Vvales and West uti11t$ Gas safety Health & Social Care Energy Saving Trust- 70+ Cymru Other grants National Grid Community Matters Sobell Foundats"on Wolfson Foundgb"on Dat8base Pro11 Manager N8tional Lottery Oakdale Trust Veterans Hardship Wales & Wast Utilities- Older rbot colder Aneurin Bevan Health Board 13,690 507,863 538.243 Charitable a¢tiviti*s Charitsble activities Charitable activities Charitable activities Charitable aclivitles 700,000 493,230 9,904 10,457 3,756 700,000 487,101 83,480 12,034 66,952 Charitable actlvllles Charitable activieS 185.749 5,944 Charitable actlvlties Charitable activities Ch8rit8bl8 activities Charitable activities Charitable activities Charitable activities Charitable activibes 9.996 10.ODO 34.800 10,000 3,375 82,171 19,383 1,240 750 Charitable activitie5 Charitable activities 146,933 61,033 2 080 475 2 117589 Oth8r incom 2024 2023 Oth8r Incorne Pag& 16 ¢onnUed...
CArè & Repalr Cymru 2015 Noles to the Flnanclal Stalements . wntlnued tor the Year Ended 31 March 2024 Ral$lng fund$ R¥l8lng donatlons and legacles 2024 2023 Fundraising events 729 Charltable o¢tlvltls ¢o$ts Support costs Ise• note 81 Dlrect 08ts TotslB Charrtable tivitS 1 949210 2 014735 Support co¥ts Inforrn•tlon techrK>logy GoY•man¢• ¢o$ts Flnance Totrl$ Charltable activiles N•t Ineomoll&xp•ndltuvg1 Net incomellexpenditurel 18 ststed after ¢harglngllcredltlng)'. 2024 2023 Depredati¢)n- owned assets Webstte costs amortisatton 4,$84 4.366 600 10. Auditors. r&munration 2024 2023 Fees payable to the charivs auditors for the audit of the charity's finanaal slaternents Auditor¥' remuner8tion for non aLKlit work 5,700 5,830 Trust••s' r•muneration and ben•frts There were no trustees. remuneraiion or other benefits for the year ended 31 March 2024 nor for year ended 31 March 2023. Page 17 ntinugd...
Care & R•palr Cymru 2015 Not•s to th• Flnanclal Statem•nts. con11nd for the Y•ar Ended 31 March 2024 Trust••s' r•m¥nratlon and benefits . contlnu•d Tru$t•e$' ¥xpen6es Trustees, expense3 pald for the year ended 31 Mar¢h 2024 totalled £41612023.. £1151. 12. Staff ¢o$ts 2024 2023 Wages and salaries Social security c051s Other pension costs 495.575 44,769 437.764 40,167 27.418 589 433 Tlie tolal eniploygs beiiefits receiwed during the year of the key manageffleiit persorbnel ol the charlty was £338.78612023'. £290,759) The average monthty numt¢r of employees during Ihe year was as follcys: 2024 14 2023 14 Employ¢e8 The number of employees employee benefits lexdudln9 employer pension costs) exceeded £60,000 was_. 2024 2023 £80.001 - £90.000 £90,001- £1IJ).000 13. Comparotlv¢$ for th¢ ts¢at•ment of financial a¢¢lvltl•8 Unfestri¢tod funds Restrict•d funds Totsl lund8 Incorn• and •ndowm•nts from Oonations and legacies 22,462 32,482 Ch•ritable artiviti•s Ch8rit8ble activities 534.533 1,583,056 2.117.589 Investment income Other illcorne Total 9,828 80,728 6E7,551 9,828 80,728 2,240,607 1.583,056 ExndItUre on RaisiNJ funds 729 729 Charltable act1v1t5 Charitable actsvitios Tolal 1615 536 1.615,536 2 161 773 2.162.502 546.966 NET INCOMEIIEXPENDITUREI 110,585 132,4801 78,105 P8g8 18 continuerl...
Car• a R•palr Cymru 2015 Notes to the Flnanclal Statements - ¢onllnu*d for the Year Ended 31 March 2024 13. Comparatlves for th? slatement of Ilnanclal acllvltle$- contlnugd Unrestrfcted funds Re$trl¢t•d funds Totsl lynd$ Othgr recognlsed galn611108se81 Attuarial gainslllossesl on defined benefit schemes Nel movement In fvn(Js 49 0001 29,105 61.585 132,480) Reconcllla¢lon ol lunds Ttstal funds broughl lorward 14,3661 56,014 51,648 Tr&tal lunds carrlèd forward 14. Intanglbl• flx•d a$wts WebBit• costs Cost Al 1 Apiil 2023 and 31 March 2024 Amortisation Al 1 April 2023 Charge for year At 31 March 2024 N8t book value At 31 March 2024 Al 31 March 2023 18.CA)6 3.602 4.202 15. Tanglble fixgd a$$ets Flxtur•s and fittings Computer •quipment Totals Cost Al 1 April 2023 Add0S Al 31 March 2024 DeplatIOn At 1 April 2023 Chaige for year Al 31 March 2024 Net book value Al 31 March 2024 Al 31 March 2023 25.102 12.597 37.699 18.984 44,0&6 12.597 56,683 18.984 24.167 2.099 26.266 11,822 2.585 35.989 4.6S4 935 Page 19 conbnued...
Care & Repalr Cymru 2015 Notes to thè Flnanclal Statemènts- ¢ontlnued for the Year Ended 31 Mar¢h 2024 16. D•btcYs: amounts falllng du• wllhln one year 2024 2023 Trade debtors Prepayrnenls 46.003 3,119 180 111 183230 1T. Credltors: am¢unl$ falllng due wlthln oné y•ar 2024 2023 Tratle creditors Social security and other tsxe8 Other credito Accrued expense8 Deferred government grants 6,619 12,795 13.349 217,869 23,832 8.625 1.131 220.368 19.716 273 672 289 495 Deferrèd In¢om¥ 2024 2023 Deferfed IncL)tNe brought forw8rd Released in the year Deferred in the year Deferred income carried forward 19,71fj 119,7161 85.968 185,9681 18. Cr•dlt¢r8: amouTht8 falllng due after more than one year 2024 2023 Retirement benefit obllgalions 19. LSIng agr•èmonts Minimum lease payrn8nts un¢Jer n-¢¢l8bIB operating leases fall due as follows.. 2024 2023 Within one year Befv4een one and five years 28,442 4.437 35.621 111 089 Page 20 continued...
Car• & Repalr Cymru 2015 Notès to the Flnanclal Statements- contSnugd far tho Year Ended 31 Ala¥eh 2024 20. Movement In funds Transfers been funds movem•nt In fLd8 At 31.3.24 At 1.4.23 Unrestrlct•d funds General fund Designated - Fundr8ising and BtJ4ness DevelDpment Designated Sustainabilily Fund Designated - Npower Fuel Poverty Fund 186,5461 79.352 11,0191 18,2131 22,632 1S,S74 105 559 57,219 122 6321 1107101 17.5551 28.455 4,884 88 004 11.0191 Rostrictsd funds Safe & Warrn 14ome8 Fund H05Pital to a Healthier Home Haréshlp Wales & West Utilities- 70+ Cym Sobell Foundation The Wdtson Foundatlon Wales & W8St Utilities- Older rbQt Colder H2HH Gwent RIF 3.210 772 9.552 lo.0 11.021) 2,189 772 1,792 10.000 17 760} 110191 143 185 4847 138.232 166 687 1,019 143,185 23.534 1,019 162 785 247 440 TOTAL FUNDS Page 21 conlinuod...
Caro & Rèpalr Cymru 2015 Not to the Flnancbal Stat¢m•nts. Conllnued for the Year Endèd 31 Mar¢h 2024 20. Movement In fund8- contlnu•d Net mov8m8nt #i ftjnds. indud9d in thts 8bove are as follows,. Incomlng r•sour¢¢$ Rgsoyrcgs gxpendod Galns and losses m0M In fund Unrestrlct•d fund$ General fvnd Designated - Fundrai51ng and Busness Development Designated Sustainability Fund Designated - Npower Fuel Povety Fund 796,134 1855.7821 {61,0001 79,352 122 6321 1107101 17 S55 1706.6791 122,6321 110,7101 17 5551 28,455 79S.134 161,0001 R•stricted fund$ Safe & Warrn Homes Fund Wales & Wesl Utilities. TD+ Cym Sobell Foundation Welsh Government- Managing 88tter N8tion81 Lottery Comrnunty Fund 110211 17 7601 1100001 1700 0001 11.0211 17,7801 10.OC(I 700,000 19,383 3,375 493,230 10,457 1.240 146,934 61,033 2,607 1,149 750 1.45?.158 119.3831 14.3941 1493 2301 110.4571 11.2401 13 7491 156 1861 12 6071 11.1491 750 1.311,9261 2 018605 The WfS Foundatlon H05Pital to a Healthier Home Foundations Oakdale Trust Wales & Wesl Utilities- Older not Colder H2HH Gwent RIF Winter Pressures Safe and Warm Hornes Winter Pressurès SWH 70 + Veterans Fund {1.0191 143,185 4,847 138.232 166 687 TOTAL FUMDS Page 22 ¢onlinued...
Care & Repalr Cyrnru 2015 Not•s to th• Flnanclal Statements . contlnugd l¢¥ th• Yoar End•d 31 Ma¥eh 2024 2D. Movem•nt In fund$ - ¢ontlnued Comp0ratlv•$ lor movwn•nt In funds Net movemgnt Sn funds At 31.3.23 At 1.4.22 Unrgstrlcted funds Geneial fund Designated - Fundi8ising and Buslness Development Designated Sustainabilrty Fund Designated . Npower Fuel Poverty Fund 1148.1311 81,585 186.5461 22,632 15.574 105.559 14,3661 22.632 15,574 81.585 57,219 R•8trlct•d fund$ Safe & Warm Homes Fund H05Pital Io 8 Healthier home- Oevelopment 2022-23 Hospitsl 10 8 H881thi8r Home HBrd8hip Wales & W8St Utiliti8s- 70+ Cymru Sobell Fgundakn'on 15.511 112.3011 3.210 31.4(X) 9.103 131,4001 18.3311 9.552 772 9.552 10,000 23.534 32.4801 29 105 TOTAL FUNDS Comparative nel movement Sn funds, includèd in the abova are as folknws= Ineomlng r•$our¢*s Rosoure•s oxpend•d Galns and lossès Movement In funds Unr•strl¢ted lund$ General fund 657,551 1546.9661 {49,0001 61,585 Restrlcted funds Safg 8 Warm Nomgs Fund Hospital lo a Htsalthior home- D8vgloprnenl 2022-23 Hospilal to 8 Healthier Horne Hardship Wales & Wesl Utilili8s- 70+ Cymru Sobell Foundats)n Welsh Govemrnent- Managing Better The Wdfson Foundation Hospital to a Healthiei Home Fall awareness Eneregy Saving Trust- 70+ Cymru National Gild Communlty Matter 66.951 179 2521 112,3011 1314001 18 331) 173 9081 131.4001 {8.3311 9,552 10,000 83,460 10,000 700,000 34,800 487,101 4,999 185.749 9.996 1 583.056 1700.0001 134 8001 1487 1011 14 9991 118S 7491 9996 1.615.536) 2 182 502 32 4801 TOTAL FUNDS Page 23 continued...
Car• & Rèpalr Cymru 2015 Not*$ to th¢ FInancl Statem•b)ts- contlnued for the Year End8d 31 Mar¢h 2024 20. Mov¢mgnt In funds- contlnu•d A ¢urr8nt year 12 months aThJ prior ygar 12 months cornbined position is as follows= Transfers between funds movement In funds At 31.3.24 At 1.4.22 VnTgStrlct•d lund$ General hjnd Designated - Fundraising and Business Development Designated - &Jstainability Fund Designated- Npower Fu81 Povety Fund 1148.1311 140 937 11,0191 (8,2131 22,632 1S,S74 10S.559 14,3661 122 632) 110710) 175551 90.040 4,864 88 004 IM.655 {1,0191 R•stri¢tgd funds Safe & Warm Homes FuTrd Hospital to a Healthier home- Oevelopment 2022-23 Hospit81 to 8 He81thier Home Hardship Wales & Wgst Utilities. 70+ Cymru Sobell Foundatson The Wolfson Foundation Wales & Wesl Utililes- Older not Colder H2HH Gwant RIF 15.511 113 3221 2.189 31,400 9.103 1314001 183311 1792 10.000 11.0191 143185 4847 105.752 195 792 772 1,792 10,000 1.019 143,185 4,847 162,785 247 440 56,014 1,019 TOTAL FUNDS P898 24 continugd...
Car• & Repalr Cymru 2015 Notes to the Flnanclal StatemBnts- cont5nued far the Year End8d 31 March 2024 20. Movgmgnt In funds- cont5nued A curr8nt ygar 12 months and prior year 12 months combined nel movgmgnt in funds, included in lh& above ara a8 f¢Jlows'. Incomlng rgsources Resou expended Galns and loB8e$ Mov•m•nt In funds Unr•strlet•d fund$ Geneial fund Designated - Fun¢Jraising and 8usne55 Development Designated - Sustainability Fund Designated - Npower FL1 Poverty Fund 1.453.685 11,202 7481 1110,0001 140,937 122.6321 1107101 17555 11.253.645) 122,6321 110,7101 175551 9CI,040 1.453.685 {110.0001 R•strl¢ted funds Safe & Warrn Homes FUNJ Hospital to a Healthler home- Development 2022-23 Hospital to a Healthier Home Hardship WBles & West Utilities- 70+ Cymru Sobell Foundation We15h Government- Managing Better Natsonal Lottpry Cotnrnunity Fund 66.951 180 2731 113,3221 1314001 183311 181 6681 110 0001 11,400 0001 131,4001 18,3311 1,792 10,ODO 83.480 20.000 1.400.000 19,383 38.175 980.331 10.457 1,240 4.999 185,749 9,996 146.934 61,033 2,607 1,149 750 3 033 214 119 3831 139 1941 1980.3311 110.4S71 11.2401 14 9991 1185 7491 19.9961 13.7491 156.1861 12 6071 11.1491 750 2.927.462) 4 181 107 The Wolfson Foundation Hospitsl lo 8 H881thi8r Hcrne Foundation5 Oakdale Trust Fall awareness Eneregy Savsng Tmst- 70+ Cymnj Nation81 Grid Community Mattel Wales & West Utilities- Older not Coldèr H2HH Gwent RIF 11,0191 143.185 4,847 Winter Pressures Safe and Warm Homes Wintèr Pressures SWH 70 + Vèterans Fund 105.752 195.792 TOTAL FUNOS Page 25 conlnued...
Car¢ a Repalr Cymru 2015 Notes to the Flnanclal Statem•nts- contlnuèd for the Y•ar Endod 31 March 2024 20. Mov•mnt In funds - cont117u•d Sofe & Wami Hom•$ Fund Capital fund distributed lo C&R Client for payment of work relatiThJ to home wamith and safety Application for with criteri8 is in place. Wales & Wt utilities TO+ Cymru- To enablè us to the employmènt eonlracts ol Home Energy Officers in ca & Repair Aggn¢ies and the support setvices I0VIded for people in fuel pov8ty and cdd homes. Sobell Foundation Funding to support our fuel poveity an¢ decartKni5ats'on st18t8gy_ This ClUdeS research and evaluation of a recent fuel povgty proj&ct, making applicatiow fo new saNic85 and influencitYJ improved gtsvemment fugl Povgrty policy. Welsh Gov•mm•nt . Managln9 Better - Th8s8 funds wore from Wdsh Gownment PAslainabl& Social Sorvicas Third Sector Granl for deliveriThJ the M8naging Better SeNiGes across Wales. The Wolfson Foundation . A fund to purchase and distribuie therrnal camefas, Surface Pro tablets, laptops and lasér distan mea5uros, benefrtling Ce & Repair CyTnru and all Care & Repaii Agencies The new equipment will enable us to rniKJernise and improve many aspect3 of our technical and surveylng services, remote working capabilities, and diagnosis of problems leadin9 to cold hom& Hospltal to a Healthier Hom• - National commissioned by Welsh GoverwTment and NHS natioThal commisslonin9 unil. th6so services being co-ordinalad by Care & Ropair Cyrnru, and involving 12 Cara & R8palr Agencies, with 13 Ca$gwoTkers wot*ing out of 17 hospitals. in close partnèrship with heallh professionals, to spaèd up safe home dischargès lor oldar patlents by making timèly improvemenis or adaptations to their homes. Hospltal to a HealthSer Hom• Gwènl RIF- The Regional Intogratlon Fund ndS Hospital to a H8althler Home across th three Gwent Agencies within Aneurin 8evan University Health Board. This funding cover5 the revenue costs of four CaSe(ers, pkns the national cwrdination. monitoring and Trporting of the servio. 08kdalÈ Trust . Capital fund distributed to C&R dients for p8ymeTrl of WO relatsng to homè warmth an¢J safety. Application with crfteria in place. National Lottery Community Fund- Revenue funding to eM0Y a Hardshlp Fund adrninistrator aTrJ also ¢apit81 lundng to distributè to C&R clients lor payment ol work relating to homg wamith and safety. Wales & W•st- Old¢r not ¢old•r The sarvl¢è Wms to support oldar pgople acro85 Wales, by iackling fugl povorty, proTllOting energy efficiency in the home. educating clienls about thè importance of carbon Mo0x1d8 ICOI safety and awareness. increasing the numbEr of older people on the piiurity services register, and sourcing options for retrofitting through Welsh. 2nd UK-g0v•rrFmt grants. Wlnter Pressures Safe and Warni Homes- Th8 funding was centrally hel(J 8rnd distributed to 10 agenEiès as small grants, lor 3 agencies b create hospit21-based posts. and for 10 agencles lo provide sdlrtions for rapld adaptations or emergency repairs for home safety. cold homes, declullering or social welfare. V•t•rans Fund- capit lund distributed lo C&R Clignts for payment ol woik relaling lo home warmth and 88lely. Application with criteria in placg. FoundallonslGas Safely - Capltsl fund distributed to C&R ClieFrts for payment of wolrf relating io home warmth and Safety Application with criterta in place. Designated Fund - FundraSsing and 8u$ine$s Developwnent - Reserve funds designated by INstees for fundr2ising work or work to develop a subsidiery social enterprisÈ lo provide $8rvices and generate Incorrbe. D•signatod Su¥toinability Fund - Funds spec11Y designated by Board for exploring opportunities to ¢gntinue to 81iver the Altic Proiact In futu. DesSgnated NPor Fuel Poverty Fund - Funds from a donation by NPower which carb be used flexibly to d8llver services and support linked to alleviation of fuel poverty. Pag8 26 conlinuad...
Car• & R•palr Cymru 2015 Notes to the Flnanclal Statements . wntlnued for the Year Ended 31 March 2024 20. Mov•mgnt In fundB - contlnued Transfers be8• funds Durlng the year a transler of £1.019 12023.. £5,628) was reoulred froffl unreslrfcted funds, to Cover excess spend on restricted lunds not expected to be recovered through lulure surplus on the respeclive restricle(J fund. 21. Emplo b•nefil obllyatlon$ D&find Contribution 8chBmfj The charity c>perates a deflned contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the rharity in an independentty administered fund. The chorge to yofit or loss in respCt of deffined contribution schemes waa £49,08912023'. E27,4181. D•fin•d B•n•flt P•nslon Sch•m• The charity parficipales in Ihe TPT R81irement Servi5 Social Housing pension scheme which is a defined benefit scheme based on final pensionable salary. Kay Assumptions 2024 2023 % per annum % annum Discount Rate Inflation IRPII Inflation ICPII Salary Growth 4.87 3.19 2.76 3.76 3.20 2.72 3.72 75Wd d maximum allt)wanc8 for commutatiC of pengon fN cash at retirement. Mortality Assumptlons 2024 Life exCtancY lyrs) 20.5 23 21.8 24.4 2023 Life expectancy lyrsl 21 23.4 22.2 24.9 Retiriw Males 2024 Reliriw Females 2024 Reliriw Males 2044 Retiring Females 2044 Falr Value of Plan Assets, Present Valu? of Delld Beneflt Obllgatlon. and D•flned B•n¢fft AssetlLlabllbtyl 2024 i£'oooi 1,599 ,964 13651 2023 i£YJooi 1,647 2,015 {3S81 Fair value of plan assets Pr8seThl value of defined benefrt ijbllgalion SurplLJ4ldaficitl in plan Unre¢ggnised surplus Doflned bonefft assèt I Illabllltyl to b8 re¢ognls8d Del8rred tsx Net defined benefit asset I Iliabilityl lo be recognlsed 136S1 13661 Dèfinèd B•n•flt Costs R•eognlsod In Oth•r Compr•hgnslve Income IOC Pag8 27 continugd...
Caro & Repalr Cymru 2015 Notes to tho FlnaKlal Statemènts. ntInUed for th¢ Year Ended 31 March 2024 21. Employ•• bongfit obllgatlon$- ¢ontlnued Porlod from 31 March 2023 to 31 Marc 2024 i£'ooo) Experien on plan assets lexcluding amourts included in net inleresl cosll- Gain I Ilossl Experience galns and losses arislng on the plan Ilabllltle5 Gain I Ilossl Effect5 of changes in the demographic assumption5 un¢Jerfying the present value of defin1 benefit oblig8tron - Gain I Ilossl Eff8cts ol thanges In the financial assumptions underlying the presenl value of the defin&J benefit obligab"on- Gain I Iltsssl Total actuarial gains and105ses ItEfore restriction due to some olth? suWus not being rècognisablel - Gain I IIDssl Effects of changes in the amount of surplus that is not recoverable (excdIng amounts included in nel interest costl- Gain I (loss) Total amounl rècognised in Other Comprehensive Incom¢. Gain I Ilossl 1701 151 24 Alulti-employer Defined Benefit Pension Schemè FOR THE PERIOD ENDING 31 March 2024 COMPANY.. Car• & Rèpalr CYMN SCHEME: TPT Retlrem•nt Solutlons- Th• Growth Plan Thè company partieipates in tho sehgmè, a multi-employ6r sehm8 which provKl8s benefits lo som8 638 non-2ss0¢ialod participating ernployers. Thè s¢heme is a dafinèd b8nefit sch8rnè in the UK. 11 is not p¢)sslble for the company to obtain suffi¢ionl infomiation to enable il lo account for the scheme as a dgfined benefit scheme. Thereforè it aUllts for th8 schtsme as a dofined conlhbuTh'on scheme, The scheme is subjèct to thg funding lègislation outlined in Iha Pensions Act 2004 which camg inlo lorcg on 30 09¢ombgr 2005. This, togethgr with docLJmgnts issued by Ihtr Pensions Règulator and Technical A¢tvarial St8ndards issued by Ihe Financlal Reporting Coundl, sot out the framework for fvnding definad rfit occupational pgnsion schemas in tho UK The s¢heme is dassifled 88 8 'last-man slanding arr8ngerynt'. Therefore the ¢omp8ny 13 Potentially liable for cher participating employers. obligations if those employers are unable to meet their share of the scheme deficit following withdrawal from the scheme. Participating employer5 are legally required lo meel their share ol the scheme defiul an annuity wrchase basis on wlthdrawal from the scheme. A full actuarial valuation lor the scheme was carried out at 30 September 2020. This v8luation showed assets of £800.3m, liablliliBS of £831.9m and a deficit 01 £31.6m. To elirninate this funding shortlall. the Trustee has asked the participating employers to pay additional contributions to the scheme as follows.. D•ficlt contributions From l April 2022 to 31 January 2025 3,312.000 per annum Ipayable monthly) Unless a concession has been agreed with the Trustee the term to 31 January 2025 applies. Note that Ihe sch8me's previDUS valuation was carried out wth an effective ijate of 30 Septemb&i 2017. This valuatio showed assets of £794.9m, liabilities of £926.4m and a defic of £131.5rn. To eliminate Ihi5 funding shortfall. the Trustee asked particlpating èmployers lo pay additional contributions to th8 scheme as follows.. Deficit ¢ontributlon5 Page 28 conts"nued...
Care & Repalr Cymru 2015 Notes to Flnanclal Stalem•nts- contlnu•d for the Y•ar End•d 31 Mar¢h 2024 21. Employ•¢ benofit rJbllgatlon$. ¢onllnu•d £11,243,000 p6r annum Ipay8W monihly and incigasing by 3% each on 1 $1 Aprill Frorn l April 2019 to 30 September 2025 The TeGovery plan contribulions arg 8lloGated to each parb¢ipab"ng em0yer in line with I11r estimated share of the Series 1 and Series 2 scheme liabilities. Where the sckeme is in deficit and where the company has agreed to a defficit furnding arrangement the company recognise$ a liability for tl)i$ obligation. The atnouiit recognised is the net present value of the deficit reduction contributions payable Urer Ihe agreernent that relates to the dtrrt. The present value is calculated using the discount raie detailed in these disdosures. The unwinding of the discount rate is rewgnised 85 a finance cost. Pr•s•nt Valu•$ ot Provlslon 31 Mah 2024 31 March 2023 i£} 31 March 2022 1£) 103 Present value of prowsion 31 Reconclllatlon of Openlng and Closing Provisions 2f124 i£} 66 2023 1£) 1C13 Provision at 5tsrt of period Unwinding Df th8 discount factor {int8r8St 8xpens81 Deficit contribution paid Remeasurements - IMpt of any change in assumptions Remeasurements - amendments to the oonlfibulion schedulé Provision at end ol period Incom• and Exp•ndltur• Impact 1381 1381 31 2024 1£) 2tr23 1£) Interest expense R8rnea5urewnents- impact of any change In assumptions Remeasurements- amendments to the contribution schedule Contributions paid in respect ol fulure service" Costs recognised in incune and expenditure account 121 "includ85 defined corbtriixjtion schemes and fulure service ctribUtIo li.e. excluding any deficit Teduction payrn8ntsl lo defined beThefit schemes which are tated 85 (Jefined contribution schemés. To be completed by the company. Assumptlons 31 March 2024 % per annum 5.31 31 Mah 2023 % per annum 5.52 31 Mareh 2022 OA per annum 2.35 Rale of disUnt The discount rates shown ave are the equivalent single dis¢ount rates which, when used lo ¢Jiswunt tha future recovery plan ry)ntribulions due, would give Ihe same results as using a full AA corporate bond yield curve to discount the same covery plan ¢x)ntribulion$. Deflned Contribution$ S¢h¢dulo 31 Mar¢h 2024 {£1 31 31 Mar¢h 2023 i£} 38 31 31 March 2022 (£1 38 38 31 Year 1 Year 2 Year 3 Pago 29 continued...
Car• & R¢palr Cyrnru 2015 Notès to the Flnanclal Stat•m¢nts- ¢ontlnu•d l¢r the Year Ended 31 March 2024 21. Employee benefit obllgatlons . contlnu•d Ygar 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year11 Year 12 Year 13 Year 14 Year 15 Ye8r16 Ye8r17 Year18 Year 19 Year 20 The company must r8(x)gnise a liabillty measured as the present value of the contributions payable that ari58 frorn the deficif recovery agreement and the resulting eXPere in the income and expenditure account i.e. the unwinding of the diswunt rale as a finance cost in the period in which it arise5. It is th8sa ¢ontrbutions that havg b8en used tc deriva thg companVs b21aneo 5h8el liability. Relatsd party disclosu9 22. There were no related paity tranCtIOnS for the yearended 31 March 2024. P8g8 30