Company Registi'ation number 10156361
Charity Registi'ation number 1168892
The Fern Partnership
Company limited by guarantee
Annual report and financial statements
for the year ended 31 March 2025

The Fei'ii Partnership
Contents
Page
T￿SleeS, annual report
Auditors, report
8-10
Statement of Financial Activities
li
Balance sheet
12
Cash flow slalement
13
Notes to the financial statemeJ]ts
14-23

The Fern Partnership
Legal and administrative information
ch￿Ilable Company Lin]ited by Guarantee
Charity registration number
1168892
Company registration number
10156361
Registered office
Ferndale Hwb
North Road
Ferndale
CF43 4PS
Website
www.fernpartnership.co.uk
Trustees who served during the year
Kelvin Jones
David O Dean
Michael Davies
Howard Brnges
Nathan Prygodzicz
Heather Nichollas
Chair, appointed 22 February 2024
appointed l April 2025
Secretary
Michelle Coburn-Hughes
Auditors
RH Jeffs 2nd Rowe
Chartered Accountants
27128 Gelliwastad Road
Pontypridd
CF37 2B W
Bankers
Unity Trust Bank plc
Nine Brinfley Place
Birmingham
BI 2HB

The Fern Parthership
Trustees, Annual Report
for the year ended 31 March 2025
Legal and Administi'ative Infoi'mation
The charity is a company limited by guaraTrlee and has no share capital. Ils members are the trustees, who
also serve as the diitctors for the purposes of company law.
This repoTt, which includes the financial slaternents for the year ended 31 March 2025, has been prepared in
accordance with Part 8 of the Charities Act 2011 and the Companies Act 2006, and constitutes both the
Trustees, Report and the Directors, Report for slalutory purposes.
Objeetives and Aetivities
The charitable company's principal objectives, as set out in its Memorandum and Articles of Association, are..
A. The advancetnent of education of the pupils of Ferndale community school by raising funds for items and
activities over and above these which the LEA provide for,.
B. The promotion for the benefit of the public of urban or rural regeneration in areas of social and econon)ic
deprivation (and in particular in the uppeT Rhondda Fach by all or any of the following means..
. The advancement of education, training or retraining, particularly among llnemployed people, and
providing unemployed people with work experience.
ii. the provision of assistance, advice or consultancy in order to provide training and eTnployment
opportunities; iii. the maintenance. improvement or provision of public amenities in relations to charity
assets.,
iv. The provision of recreational facilities for the public at large or those who by reason of their youth, age,
infirnjity or disablement. financia] hardship or social gnd economic ctrcumstances. have need of such
facilities.
The protection or conservation of the environment.
vi. the provision of public health facilities and childcare.
vii. the promotion of public SPLfety and prevention of crime.
viii. Such other means as may from time to time be detetmined subject lo the piior written consent of the
charity commissioners for England and Wales.
Public Benefit
The trustees confinn that they have complied with their duty under section 17 of the Charities Act 2011 to
have due regard to the guidance issued by the Charity Commission on public benefit. They are satisfied that
the Ch￿lty'S activities during the year have clearly fi]rthered its cha'itable Pu￿OseS and delivered identifiable
benefits lo the public. In particul￿, the Charity has advanced the education of pupils at Ferndale Conununity
School by working in partnership with staff, governors and the wider coJnmunity to raise funds for items,
initiatives and activities that fall outside the provision made by the local education auihorily. Through this
support, the ch￿itY has contributed lo ellhan￿d educational opportunities and the wider wellbeing of pupils.
Page I

The Fern Partnership
Trustees, Annual Report
for the year ended 31 Mareh 2025
Achievements and Perforrnance
Dui'ing the year, the charity delivered the following outcomes and impacts in furtherance of ils charitable
objectives:
Strong Leadership and Opeiational Groivtji
Our roanagement team has consistently strengthened ils capabilities, both in driving the organisation fonvard
and in managing daily operations. Their dedication, skills, and leadership have been instrumental in ensuring
smooth operations and sustained growth during challenging titnes.
Expandiiig Our Social Enterprise Model
In February 2024, The Fem Partnership completed the purchase of Fuze Soft Play & Climbing Centre. The
resulting savings from rental payments have been c￿ClaI in maintaining our financial viability. This
acquisition reflects a wider trend in the third sector: the need to develop Social Enterprises that can generate
income to safeguard and sustain charitable services.
Fuze Soft Play & Clirnbing Centre
Fuze has continued to thrive, reaching unprecedented levels of activity. Beyond soft play, we now deliver a
wide range of prograrnmes. including After School Clubs, Play Schemes, Baby & Toddler Groups.
Additional Learning Needs (ALN) sessions, and themed events.
Government resilience grants have been vital in strengthening our business and supporting the Development
Officer role, which has becorne increasingly crucial as the centre grows.
We continue to work in strong partnership with locaI schools, pofi1cul￿IY Ysgol Hen Felin. offering
volllntJry work experience placements for pupils aged 16 and above. Recent donations, such as a baby soft
play frame, have further e￿]ched the experience for our youngest families.
Additionally. we launching a Reuse & Recycle Shop on the first floor. supported by external fvnding,
which will add to the centre's sustainability goals.
Fei'Kdale Communty Hwb - Childca7'e Senic¢s
Little Fems Ferndale continues to thrive as a mixed chIldc￿ setting. combining Flying Start funded places
with fee-paying provision. Both rooms reJnain consistently busy, supported by a strong operational structure
and effective management.
We continue to deliver a wide Tange of childcare options. including Spot Purchase Flying Start, Registered
Edllcalion places, 30-hour provision. and care for around 50 fee-paying children. However, the sector
continues to face challenges due to changes in government funding and tising costs linked to the National
Minin]um Wage and National Insurance contributions.
In June 2024, we were invited to the Houses of Pai'liament to discuss funding mechanisms for childcare.
These discussions ffinforced that the approach we are talung at The Fern Partnership - operating as a Social
Enterprise that PriOLitises sustainability and community impact- reflects the direction in which the Early
Ye8J's sector wishes to progress.
Page 2

The fiern P2rtnei'ship
Trustees, Annual Report
for the year ended 31 March 2025
Digilalmedia Project
Although setbacks with land surveys required us to reapply for planning permission, we are making progress.
Solar panels have been installed al Ferndale, reducing energy usage, and a contract has been awarded for the
installation of a new interactive board.
Govei'niiient Childcare Expansion
All of our Flying st￿ selliiigs continue to operate at full capacity and have maintained excellent Stand￿ds.
with all receiving lop ratings in recent CIW inspections.
The Welsh Government's phased expansion of funded childcare provision for Iwo-year-olds presents both
opportunities and challenges. While demand is increasing, the additional care needs of these children,
alongside rising staffing and food costs, place significant pressure on Tesources.
Our senior managers continue to engage proactively with MeJnbers of Parliament, Assembly Members,
Councillors. and stakeholdei's lo influence funding levels. RCTCBC has responded positively to these
discussions, offeting increased support.
Commiinity Engageinent
Although Comlnunilies for Work funding ended in June 2025, we continue to deliver the popular After
School Club at Maerdy Hub. now managed under community leadei'ship since April 2025. This has been
highly Success￿1, with the Hub in regular use.
We have worked closely with Keep Wales Tidy on our Net Zero journey and partnered with locaI schools
and third sector org8J]isations lo deliver sustainability-focused activities.
In addition. our collaboration with Cardiff City Football Foundation is creating new opportunities to deliver
health and wellbeing sessions for f8Jnilies across Femdale Hub and Fuze.
VolT4nteei' Contribution
Volunteers continue to play an essential role in the charity's operations. During the year, approximately 10
volunteers contributed an estimated 1,200 hours, supporting Community activities, for example. Mens Shed
Knit & Knatter.
Impact Reporting
The trustees recognise the importaT]ce of demonstrating clear and measurable impact across the Fern Hwb's
¢hildcaL'e, family support, employment and community progranunes. An internal monitoring framework is
used to track outcomes such as childcare occupancy levels, Flying Start attendance, ALN support sessions,
con)munity hub activity, and participation in le3Thing, wellbeing and family engagement initiatives. This
enables the In]stees lo assess the effectiveness of individual services, identify trends. and ensure that
esources are dtrecled toW￿d areas of greatest need and benefit.
Regular impact reports are reviewed by the board, providing assurance that progran]mes are meeting theii.
intended objectives, that grant-funded activities are delivering against agreed outcomes, and that the charity
continues to achieve positive results for children, families and the wider comn]unily. This approach supports
transparency, strengthens accountability lo funders and partners, 2nd infotms ongoing service improvement
and fuluie planning.
Page 3

The Fern Partnership
Trustees, Annual Report
for the year ended 31 March 2025
Financial Review
The Statement of Financial Activities for the ye￿. is sel out on page 11 of the financial statements. The
charity's total income for the year was £1,298,127, compared with £995,170 in the prior year. Expenditure
amounted to £1.240,648 (prior year £991,093), resulting in a net movement in funds of £57.479 (prior year
£4,077).
The overall financial position remains robust, with unrestricted reserves 2nd liquidity maintained at a prudent
level. The balance sheet reflects continued investment in the charity's operational infrastrllcture, with fixed
assets increasing in line with planned capital improvements. Current assets provide adequate liquidity to meet
short-tern] obligations, while creditors priM￿llY relate to normal operational comrnitments and grant-￿nded
project cycles. The year-end position supports the trustees, reserves policy and aligns with the charity's
non-complex investment approach, providing a stable platfom for managing financial risk and sustaining
future service delivery.
Reseives Policy
The tn]stees have adopted a reserves policy aimed at maintaining unrestricted reserves at a prudent
proportion of core operating costs. At the year-end, unrestricted reserves amounted to £132,926, equivalent
to approximately two months of expenditure. The management team will undertake a detailed review of
reserves and projected costs to reassess the appropriate level going forward.
As the charity remains signific8lllly dependent on grant funding, earned income alone would not sustain
operations. A reduction in gra￿t income therefore represents a material risk. To mitigate this, the tnistees
consider that maintaining three rnonths of operating reserves is essential to ensure continuity of staffing and
to allow service users to be supported or safely transitioned should funding difficulties arise.
The trustees will review and monitor the target level every six months, with a full annual policy review or
earlier where operational Ch?￿geS require it.
Principal Riskx and Uncertainties
The trustees have carried out a Comprehensive review of risks and uncertainties. including those arising from
f￿8￿cial pressures, cyber security, environmental factors, and governance tnatters.
The Ch￿￿ty'S primyry risk remains the ongoing increases in the national misjimum wage and national
insurallce contributions, coupled with govemment funding that has not kept pace with rising costs. These
financial pressures are significantly impacting childcare providers, forcing many community organisations to
close their operations.
While funding for activities remains a risk, The Fern Partnership has a strong Irack record of securing
external f￿nd1llg. we have robust controls in place to closely tnonitor costs and the terms and conditions of
any grant funding, ensuring we maximize all available resources.
Going Concern
The trustees confm that they have assessed the charity's ability to continue as a going concern for at least
twelve months from the date of approval of these financial statements and satisfied that the Charity has
adequate resources lo continue ils operations.
Investineiit Policy
The charity does not hold material investments and therefore operates a non-cotnplex investment policy
focused on capital preservation and liquidity.
Page 4

The Fern Partnei'ship
Ti'ustees, Annual Report
foi. the year ended 31 March 2025
Fllndraising Statement
The charity does not engage pi'ofessional fundraisers or coullnercial participators. All fundraising activities
'e carried out by staff or volunteers in accordance with the Fundraising Regulatoi's Code of Fundraising
Practice. The Ch￿ltY rnonitors ils fundraising activities lo ensure compliance with recognised stand￿d$. No
complaints weTe received duiing the year, and the trustees are satisfied that appropriate &i-angements are in
place to protect the public, including vulnerable peisons, from undue pressure or persistent fundraising
approaches.
Sustainability and Envlronmental, Social and Governance Reporting
The trustees remain firmly commilled to enhancing the charity's performance in Sustainability aJ]d ESG
(Environmental, Social and Governance) Reporting. Throughout the year, steady progress has been made
towards our Net Zero ambitions. including the introduction of energy-efficient technologies across the estate,
the promotion of sustainable practices within childcare and community settings, and active participation in
the RCT Climate Action Network.
Looking ahead, the trustees intend lo ensure that ESG principles are ￿llY embedded within all significant
operational and strategic decisions. This will encompass strengthened procurement standards. targeted
waste-reduction measures, improved carbon-tracktng processes. and inclusive approaches to community
engagement. These steps support our long-tern] objective of operating responsibly, rninimising
environmental impact, and delivering services that continue to benefit the community in an ethical and
sustainable way.
The trustees also reaff￿ their responsibility lo operate with due regard for environmental, social and
governance factors. Our commitment to the Net Zero pathway remains undiminished. The Director of
Operations & Development continues lo represent the Fern Partnership on the R.C.T. Climate Action
Network steering group, helping to develop Strong and Const￿clIVe partnerships.
As a result of this engagement, together with detailed energy-efficiency audits. the charity has successfully
secured funding for a rallge of improvements across its sites, including the installation of solar panels,
destratification fans, and LED lighting. We are also actively seeking further fi]nding lo extend these measures
lo our forthcoming TreoT¢hy development.
Plans for Future Periods
The trustees intend to build on the progress achieved during the year and have identified a number of key
prtorities to support the charitys continued development and long-terni sustainability.
Lottery Fundtng aud Sustainability
The trustees remain grateful for the National Lottery Community Fund s award of £350,000 over five years.
This investment has been central lo the development of the Con]munity Hub piojecl in Ferndale, enabling the
recruitment of a dedicated Business Centre Manager and administrative staff to deliver the PToject effectively
and to strengthen operational capacity. As the Cu￿ent funding period concludes in m￿ch 2026, discussions
have already commenced with the Lottery and other potential funders lo explore conlinuaiion funding and
secure the long-term sustainability of the charity's work.
Page 5

The Fei'n Partnership
Trustees, Annual Report
for the year ended 31 March 2025
Developmenlal Project - Treorchy Regeiieration
In July 2024, the charity purchased an unused property on Treorchy High Street. Although the towTh is
recognised for its aW￿d-wIllnlng ¢omn]unity-led regeneration, this pioperty lies on the edge of the revitalised
area l￿d presents an opportunity to create an improved gateway to the town centre. The trustees, proposal is
to transfolln the building into a vibrant, real-world learning environment that prioritises education, training
and upskilling. Through practical experience in a welcoming hospitality setting, partieipanls will gain skills
that support long-tern] employability. The project is designed to be inclusive, offering flexible community
spaces that ensure accessibility for all.
This initiative is expected to strengthen the Charity's social enterprise activity, reduce dependence on grant
income and support greater financial self-sufficiency in the future. The charity is currently awaiting final
approval of its application to Rhondda Cynon Tafs Large-scaie Property Improvement Grant. Subject to
approval, works are anticipated to cottLmence in September 2024.
The trustees remain committed to developing these initiatives and to pursuing opportunities that will enhance
the charity's impact aThd ensure the long-lerrn strength and resilience of its operations.
Structure, Governance and Management
The charity is governed by ils Memorandum and Articles of Association and is constituted as a company
limited by guarantee. The board of trustees (who are also directors for company law purposes) is responsible
for govem8n¢e. risk management. a￿d strategic direction. Day-to-day operations are delegated to the Chief
Executive and senior management team.
Governaiice and Committees
The board operates through sub~committees. inclllding Finance & Audit, Risk, and Remuneration, which
report regularly to the trnstees.
Trustee Reci'uitnienl and Training
Trustee vacancies were historically fdled through members of the School Governors or School Management
Team, but in recent years the charity has broadened its approach by appointing diTectors with specific
professional expertise-such as legal and HR-ensuring the B0￿d has an appropriate balance of skills. New
trustees receive a structured induction covering the Ch￿Ity'S governance, policies and regulatory
responsibilities. supported by key documents and Charity Commission guidance. and all trnstees have access
to ongoing training and briefings to ensure their knowledge and skills remain Cllrrent.
Remuneration Policy
The trustees deterniine the remuneration of key management personnel based on external benChm￿k1rtg and
perfoimance evaluation, ensuring fairness and compliance with the ch￿1¢y,S remuneration framework.
Trustees, Remuneration
No trustee re￿iVed remuneration or benefits during the year. Expenses Teimbursed to trustees are disclosed
in the notes to the financial statements. There were no related party transactions requiring disclosure.
Page 6

The Fern Partnership
Ti'ustees, Annual Report
for the year ended 31 March 2025
Statement of Trustees, Responsibilities
The Iruslees (who also the directors of the Ch￿lIable company for the puiposes of company law) are
responsible for preparing the Trllstees, Report (including the Directors, Report) and the financial Statements
in accordance with applicable law and United KingdoTn AccountitLg Standards (United I(ingdom Generally
Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which Eive a true
and fail view of the state of affairs of the charitable cotnpany and of the incoJning resources and application
of resources, including the income and expenditure, of the charitable company for that period.
IT] prep￿ing these financial statements, the trustees are required 10:
a) select suitable accounting policies and apply them consistently;
b) observe the methods and principles in the Charities SORP;
c) make judgments and accounting estimates that a￿ reasonable and prudent.
d) state whether applicable UK Accounting Standards have been followed, subject to any rnalerial
departures disclosed and explained in the financial stateTnents.
e) prepare the financial statements on the going concern basis unless il is inappropriate to presume that the
charity will continue to operate.
The trnslees ate responsible for keeping adequate accounting records that are sufFicient to show and explain
the ch￿Itable company's transactions and disclose with Teasonable accuracy al any time the financial position
of the charitable company and enable them to ensure that the fjnancial slalements comply with the
Companies Act 2006. They are also responsible for safegllarding the assets of the ¢ornpJlly and hence for
taking reasonable steps for the prevention and detection of fraud and other irregularities.
The report has been prepared in accordance with the provisions applicable to companies subject lo the small
companies, regime.
Approval
This report was approved b
ard of Trustees on the 19 November 2025 and signed on its beha]f by..
Kelvin Jones
Chair
The report has beeJJ prepared in accordance with the provisions applicable to charitable companies subject to
audit under the Companies Act 2006.
Page 7

Independent auditors, report to The Fei'n Partnership? Company
limited by guarantee, under Section 449 of the Companies Act 2006
Opinio
We have audited the financial sta¢ements of The Fem Partnership (the 'charitable company,) for the year ended 31 March
2025 which comprise the Statement of Financial Activities, Balance Sheet, Cash Flow Statement and notes lo the financial
statements, including a summary of significallt accounting policies. The Financial reporting framework that has been applied
in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard
102 The Financial Reporting Standard applicable in the UK (United Kingdom Generally Accepted Accounting Practice).
In our opinion. the fin8￿claI statements:
give a true and fail. view of the slate of the Ch￿Itable company's affairs as at 31 March 2025 and of ils incoming
resources and application of resources, including its income and expenditure. for the year then ended.
have been properly prepared in accordance with United Kingdorn Generally Accepted Accounting Practice. and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with tnternational Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our
responsibilities under those Stand￿dS are further described in the Auditor's responsibilities for the audit of the financial
statements section of OUT report. We are independent of the charitable company in accordance with the ethical requirements
that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical stand￿d, and we have
fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relatlng to going coneern
In auditing the financial statements, we have concluded that the trnstees, llse of the going concern basis of accounting in the
preparation of the fmancial stalernents is appropriate.
Based on the work we have perfonned, we have not identified any material uncertainties relating to events or conditions that.
individually or collectively, tnay cast significant doubt on the entity's ability to continue as a going concern for a period of at
least twelve months from when the financial statements 8re authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections
of this report.
Other information
The trustees are responsible for the other inforniation. The other infonnation comprises the infonnation included in the
T.ruSt￿, Annual Report other than the financial statements and our auditor's report thereon. Our opinion on the fmancial
statements does not cover the other information and, except to the extent otherwise explicitly stated in our repor¢ we do not
express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility
s lo read the other information and. in doing so, consider whether the other infomlation is materially inconsistent with the
financial statements or our knowledge obtained in the audit or otherwise appears to be Mat￿lalIY misstated. If we identify
such material inconsistencies or apparent tnaterial misstatements, we are required to determine whether there is a material
misstatement in the fjnancial statements or a material n]isslatement of the other inforn]ation. If, based on the work we have
perfomied, we conclude that there is a material misstatement of this other information, we are requiied to report that fact.
We have nothing to report in this regard.
Page 8

Independent auditors, report to The Fern Partnership? Company
limited by guarantee, under Section 449 of the Companies Act 2006
Opinions on other mattel's presci'ibed by the Companies Act 2006
our opinion, based on the work llndeTlaken in the course of the audit..
the infornalion given in the trustees, report, which includes the directors, report prepared for company law purposes, for
the financial year for which the financial statements are prepared is consistent with the fiJ]ancial statements. and
the directors, report included within the tt'ustees, report has been prepared in accordance with applicable legal
requirements.
Matters on whieh Trve are required to i'eport by exception
the light of the knowledge and understanding of the charitable company and ils enviionment obtained in the course of the
audit, we have not identified material rnisstatements in the Iwsiees, report.
We have nothing lo report in respect of the following mattel's where the Companies Act 2006 requires us lo report to you if,
in our opinion..
the ch￿itY has not kept adequate accounting records. or returns adequate for our audit have not been received from
branches not visited by us. or
the fin8nciaI State￿entS are not in agreement with the accounting records and returns. OT
certain disclosures of Itustees, remuneration specified by law Hre not made. or
we have not received all the infomaiion and explanacions we require for our audit.
Responsibilities of trustees
As explained more ￿llY in the trustees, responsibilities statement the trusle&s (who are atso the directors of the charitable
company for the putposes of company lawl are responsible for the preparation of the fjnancial statements and for being
satisfied that they give a tn]e and fair view. and for such internal control as the trustees delern)ine is necessary to enable the
preparation of financial statements that free from material tnisstatement, whether due to fraud or e￿Or.
In preparing the financial statements, the trUs￿eS are responsible for assessing the charitable cotnpany's ability to continue as
a going concern, disclosing. as applicable, matlei's related to going concem and using the going concern basis of accounting
unless the trustees either intend to liquidate the chajitable company or lo cease operations, or have no realistic alternative but
to do so.
Auditor's responsibilities for the audit of the financial statements
Our objective is to obtain reasonable assurance about whether the fInancial statements as a whole ate free from mateiial
rnisstatemenl, whether caused by fraud, e￿or or other irregularities, and lo issue an auditor's report that includes our opinion.
Reasonable assurance is a high level of assurance, but not a guarantee that an audit conducted in a￿OrdanCe with ISAS (UK)
will always detect a material misstatement when il exists. Misstatements considered material if, individually or in
aggregate, they could reasonably be expected to influence the economic decisions of users.
IrregUl￿]lieS, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with
our responsibilities, outlined above, lo delect materia] tnisslatements in respect of i￿egUlarities, including fraud. The extent to
which our procedures are capable of detecting irregularities, including fraud is detailed below..
As part of our risk assessment, we held discussions with management and those charged with governance to identify the laws
and regulations that could reasonably be expected to have a Tnaterial impact on the financial statements. These tnatlers,
together with consideration of where and how fraud might occur, were cotrllnunicaled to the engagement team during the
audit planning process.
Page 9

Independent auditoi's, report to The Fern Partnership> Company
limited by guarantee, under Section 449 of the Companies Act 2006
The following laws and regulations were idenlifLed as being of significance lo the charitable company:
Laws and regulations with a direct effect on the financial statetnenls: UK financial reporting standards (including FRS
102), the Chwities Act 2011, the Companies Act 2006, and relevant taxation and pensions legislation.
Laws and regulations fundamental to the charity's operations, where non-compliance could have a material effect on the
finarLcial statements: safeguarding requirements. health and safety legislation applicable to the charity's activities, and chatity
govern8￿ce regulations.
In response to the risks arising from ixregularities, our audit procedures included..
* Enquiries with tLVStees and management regarding compliance with laws and regulations.
* Reviewing legal and regulatory correspondence.
* Inspecting llLinutes of trustee tneetings.
* Considering the risk of rnaterial misstatement in areas susceptible to tnanagement bias, including revenue recognition and
stock balances. and
* Testing journal entries to identify unusual patterns or indicators of ovenide of controls.
No instances of material non-cornpliance were identified. However, the likelihood of detecting irregularities. including fraud.
is affected by the inherent limitations of audit procedures, the effectiveness of the charity's internal controls. and the natt]re,
timing and extent of the evidence obtained. Irregul￿ltieS resulting frotn fraud may be inherently more difficult to detect than
those arising from e￿Or. As such, there rem3ins an unavoidable risk that material tnisstatements may not be detected, even
when the audit is properly planned and perfonned in accordance with ISAS (UK).
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting
Council's website at.. httPS.'/lwww.fre.org.uk/auditorsresponsibilities. This description forn]s part of our auditor's report.
Other Matters
I draw your attention to note l. l in respect of the comparative information in the financial statements being unaudited.
Use of our report
This report is made solely to the charitable company's members, as a body. in accordance with Chapter 3 of Part 16 of the
Companies Act 2006. Our audit work has been underlakeJJ so that we ￿Ight state to the charitable company's members those
matters we are required to stale to them in an auditor's report and for no other purpose. To the fullest extent pern)itted by law,
we do not accept or assume responsibility to anyone other than the ch￿ltable company and the charitable company's members
as a body, for our audit work. for this report, or for the opinions we have foThied.
Robert Thorn
CFCA
Senior Statutory Auditor
for and on beha]f of RH Jeffs and Rowe,
Statutory Auditors & Chartered Accountants
27128 Gelliwastad Road
Pontypridd
CF37 2BW
21 November 2025
Page 10

The fiern Partnership
Statement of Financial Activities
for the year ended 31 March 2025
Unrestricted Restricted
funds
funds
2025
2025
Total
Uni'estsicted
funds
2024
Restricted
funds
2024
Total
2025
2024
Income and Endowments
Volllntary incoine:
- Grants
Trading Activities
- Trading Income
Other income:
- Flying Start
- Other Income
CharAtable Aetivities:
- Fee lllcome
47,025
243,206
290,231
34,121
176.017
210,138
221,537
221.537
220,255
220,255
509,030
90,307
509,030
90.307
397,447
3,569
397,447
3.569
187,022
187,022
163, 761
163, 761
Total Incoming Resources
1,054.921
243,206
1,298,127
819,153
176,017
995,170
Expenditllre
Charitable activiti
4 987,532
253.116
1,240,648
816,253
174,840
991,093
Total Resollrces Expended
987.532
253,116
1.240.648
816,253
174,840
991,093
Net Ineoming
(Outgoing) resources
67,389
(9,910)
57,479
2, 900
l.J77
4,077
Transfer Between Funds
Net movement of funds
(3,376)
3,376
67,389
(9,910)
57.479
(476)
4,553
4,077
Total Funds brollght forward 156,457
9,910
166,367
156.933
5,557
162,290
Total Funds earried forward 223,846
223,846
156,457
9,910
166,367
The statement of financi21 activities includes all gains and losses recognised in the ye￿.
AII incoming resources and resources expended derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and
expenditure account under the Companies Act 2006.
Page 11

The Fern Partnership
Charity iiumber 1168892
Balance sheet
as at 31 March 2025
2025
2024
Notes
Fixed Assets
Tangible assets
363,344
169.026
Current Assets
Stocks
Debtors
Cash at bank and in h?￿d
5,284
90,010
151,030
4,441
263,560
89,603
246,324
357,604
Creditors: amounts falling
due withAn one year
io
(81,692)
(67,809)
Net Current assets
164,632
289,795
Net Assets
Creditors: amounts falling due
after more than one year
527,976
458,821
10
(304,130)
(292,454)
223.846
166,367
The Funds of the Charity
Unrestricted Funds
Restricted Funds
11
li
223,846
156,457
9,910
Total Charity Funds
223.846
166,367
The notes on pages 14 - 23 fonn part of these accounts.
The financial statements have been prepared in accordance with the Statement of Recommended Practice
Accounting and Reporting by Charities and in accordance with the special provisions of Part vIt of the
Companies Act 2006 relating to small entities.
The financial statements were approved by the Ttuslee Board on 19 November 2025 and signed on its behalf
by:_
Kelvin Jones
Page 12

The Fern Partnership
Cash flow statement
for the year ended 31 Mareh 2025
2025
2024
Notes
Reconciliation of operating profitl(loss) to net
cash inflow from operating activities
Operating profit/(loss)
57,479
4,077
Depreciation
(Increase) in stocks
Decrease (increase) in debtors
Increase l (Decrease) in creditors
Capital grant received
20,713
(843)
173,550
13,883
16,754
(203)
(193,417)
28,406
722,258
Net cash inflow from operating activities
264.782
577,875
Net cash inflow from operating activities
Capital expenditure
264,782
(215,031)
577,875
(841,021)
49,751
(263,146)
Net cash inflow from financing activities
Financing
11,676
190,052
Increase in cash in the year
61,427
(73,094)
Reconciliation of Det cash flow to movement in net funds
tncrease l (Decrease) in cash in the year
Net funds at l April 2024
Net funds at 31 March 2025
61,427
89,603
(73.094)
162,697
151,030
89,603
Page 13

The Fern Partnership
Notes to the financial statetnents
for the year ended 31 March 2025
Accounting policies
1.1. Statlltory Information
The FeTn Partnership is a charitable company, limited by guarantee, Inco￿Orated in Wales in tE]e United
Kingdom. The Tegistered office is North Road, Ferndale, CF43 4PS. The nature of the ch8Jity's
operations and principal activities is dÈsclosed within the Trustees Report.
The financial statements are presented in Sterling (£), the charities functional currency, and rounded to
the nearest pound.
The significant accounting policies applied in the prep￿ation of these financial statements are set out
below. These policies have been consistently applied to all years presented unless othenvise stated.
1.2. Basis of preparation and assessment of going Concern.
The accounts (financial statements) have been prepared under the historical cost convention with items
recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts.
The financial statements have been prepared in accordance with the Statement of Recommended
Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and the Financial Reporting Standard applicable in
the United Kingdom (FRS 102) and the Charities Act 2011.
The ch￿lty constitutes a public benefit entity as defined by FRS 102.
The Trustees have considered the charity's finaTkces for the coming Ye￿ and have no Concerns or
material uncertainties over the going concern status of the charity.
Comparatives
The comparative figures are unaudited.
1.3. Taxation
As a registered charity The Fem Partnership, is entitled to the exemption from taxation in respect of
income and capital gains received with sections 478489 of the Corporation Tax Act 2010 and section
256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its ch&ritable
objects purposes only.
Its trading activities are taxable but currently no trading surpluses have been generated so that no
Corporation Tax is due to date. The position on this will be kept under review.
1.4. Deferred income
Grants for which the tnoney has been spent on capital expendittjre is defetred to go through the
statement of financial activities at the same rate as the asset is expensed.
Client fees received in advance for the following accounting year has been deferred.
P2ge 14

The Fern Partnei'ship
Notes to the financial statements
for the year ended 31 March 2025
1.5. Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic fInancial
instrutnenls. Basic financial inslrllTnents are initially iecognised al transaction value and
Subsequently measured at their settlement value.
Trade debtoi's and other debtors are recognised at the seiilement amount due and PTepayments are
valued at the atnount prepaid.
CTeditOTS are recognised where the charity has a present obligation resulting from a past event that
will probably result in the transfer of funds to a third party aJ]d the atnount due to settle the
obligation can be measured or estimated reliably. Creditors normally recognised at their
settlement amount after allowing for any trade discounts due.
1.6. Incoming resources
All income is recognised once the ch￿ilY has entitlement to the incorne, it is probable that
the income will be received and the amount of income receivable can be measured reliably.
The following specific policies are applied to particular categories of illcome..
Voluntary income is Teceived by way of donations and gifts and is included in full in the
Statement of Financial Activities when receivable. The value of services provided by
volunteers has not been included.
Income from government grants, whether 'capital' or'revenue, is recognised when the the
charity has entitlement to the funds, any perfonnance conditions attacbed to the grants have
been met, it is probable that the income will be received and the amount can be measured
reliably and not deferred.
Capital grants are classified in iestiicted funds with depreciation ch￿ged against the fund.
1.7. Resources expended
Liabilities are recognised as expenditure as soon as there is a legaI or constructive obligation
comn)ilting the charity lo that expenditure, Al is probabIe that settlement will be i'equired and the amount
of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis.
Charitable activities expenditure cornprises those costs incurred by the charity in the delivery of its
activities and services for ils beneficiaries. It includes both costs that can be allocated directly to such
activities and those costs of an indirect nature necessary to support them.
Governance costs include those costs associated with meeting the constitutional and statutory
requirements of the charity and include the audit fees and costs linked lo the strategic managetnent of
the charity.
All costs are allocated between Ilie expenditure categories of the Statement of Financial Activities on a
basis designed lo reflect the use of the resource. Costs relating lo a particular activity allocated
directly, others are apportioned on an appropiiate basis.
Page IS

The rtern Partnership
Notes to the financial statements
for the year ended 31 Mai'ch 2025
1.8. Fund Accounting
Unrestricted funds are available for use at the discretion of the Iruslees in ￿rther￿llce of their charitable
objectives.
Designated fi]nds comprise funds which have been sel aside at the discretion of the cnistees for specific
PL]rposes. The purposes and uses of the designated funds are sel out in the notes to the financial
statements.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes
arLd uses of the restricted funds are set out in the notes to the financial statements.
1.9. Tangible fixed assets and depreciation
Depreciation is provided at rates calculated to write off the cost less residual value of each
asset over its expected usefvl life, as follows..
Freehold property
Leasehold improvements
Furniture & Fittings
Motor Vehicles
50 years straight line excluding land an residual value
Iolo Straight Line
20% Straight Line
20¢% Straight Line
1.10. Intsngible fixed assets
Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fyir
value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at
cost less accutnulated amortisation and accumulated impairment losses. Goodwill is considered to have
finite useful life and has been amortised over its expected usefvl life which is l year.
Company limited by guarantee
Every member of the Company undertakes to contribute to the assets of the company, in the event of the
company being wound up. such 8mounts as may be required not exceeding £1.
Page 16

The Fern Partnersliip
Notes to the financial statements
for the year ended 31 March 2025
Incoming Resources
yeai, to
31103125
year to
31103124
Included within Incoming Resources for the Year are..
Grants Received:
Unrestricted..
WG 30 Hours
Other Grants
Play
Rcr
Henry Smith
15,190
30,835
16,395
soo
6,050
9,926
950
1,000
47.025
34,121
Restricted..
COF
Communities First
Lottery
Interlink
RCT
RCT Play
RCT unpaid carers
pyc
RCtSPF
WCVA
Winter Hardship
Other
50.000
40,491
77.906
1,000
2,620
33,368
80,936
6,000
2,038
1,992
30,096
77,776
10,000
1,000
2,000
2,000
243,206
176,017
Total Grant income
290.23
210,138
Income from charitable activities
Fee Income
187,022
163,761
187,022
163,761
Income from trading activities
Fuze thcome
Cafe
Trading Income
120.773
100,764
220.255
221,537
220,255
Other iucome
Flying Start
Other Income
One to One
509,030
78,239
12,068
397,447
3,569
599,337
401,016
Tol21 income
1,298,127
995,170
Page 17

The Fern Partnership
Notes to the financial statements
for the year ended 31 March 2025
4. Total resources expended
B9sis of Chxritable
AllocalÉon
Activities
Total
Total
year to
year to
31103125 31103124
Governance
Governance costs
Audil fee
Accountsney & Independent Bxaminer
Direct
Direct
3,800
26.964
3,800
26,964
27,535
30,764
30,764
27,535
Support Costs allocated to aetivities
Personnel costs
Running costs
Insurance
Rent payable
Utilities
Legal & Professional
Cornpuler. telephone and internet
Bank Charges
Bank interest
Donation lo Ferndale Con)rnunity School
General expenses
Motor and travel expenses
Depreciation
Direct
Direct
867,893
155,141
14,466
42,368
44,873
1.866
4,857
8,602
15,127
31.800
(215)
2.393
20,713
867,893 691,945
155,141
134.062
l4,466
9.594
42,368
77,946
44,873
10.839
1,866
4,857
8,602
15.127
31,800
(215)
2,393
20.713
Direct
Direct
Direct
Direct
Direct
Direct
Direct
Direct
Direct
Direct
Direct
13,864
3,720
1,530
1,453
1.851
16,754
1,209,884
1.209,884
963,558
1,209,884
30,764 1,240.648 991,093
Net Incoming (Outgoing)tResources
Total
year to
31103125
Total
year to
31103124
This is stated after chargingl(crediting)'.
Depreciation
Auditors Remuneration
20.713
3.800
16,754
Page 18

The fiei'n Pai'tnel'ship
Notes to the finanei21 statements
for the year ended 31 Mareh 2025
Staff Costs
Total
TotAI
year to
year to
31103125 31103124
Staff costs during the Year comprised of the following..
saI￿.]es and wages
Employers National Insurance
Etnployers Pension Costs
803,664 652,423
40,647
18,784
23,582
20,738
867.893 691,945
The average number of full litne and ￿11 time equivalent efflployees during the Year was as follows..
Management
Administration and support
Direct service delivery
Apprentices and placements
49
51
62
63
No employee ￿ceIVed emoluments of £60,000 or more during the Year (2024.. nil).
The Itustees received no remuneration or benefits in connection with the perforn]ance of their duties
£0 was paid to Trustees to cover legitimate expenses (LY,. £0).
Intangible fixed assets
Goodwill
Total
Cost
At l April 2024
20,000
20,000
At 31 March 2025
20,000
20,000
Atnortisation
At l April 2024
20,000
20,000
At 31 March 2025
20,000
20,000
Net book values
At 31 March 2025
At 31 March 2024
Page 19

The Fern Partnership
Notes to the financial statements
for the year ended 31 Mareh 2025
Land 2nd Leasehold
Fixtures,
buildings Xmprove- fittings and
freehold
ments
equipment
Tangible fixed assets
Motor
vellides
Total
Cost or Valuation
At l April 2024
Additions
118,763
164,716
167,546
30,840
50,315
18,522
335,671
215,031
At 31 M￿Ch 2025
283,479
167,546
81,155
18,522
550,702
Depreeiation
At l April 2024
Charge for the year
At 31 March 2025
117,283
20.713
30,840
18.522
166,645
20,713
137.996
30,840
18.522
187,358
Net book values
At 31 March 2025
283,479
29,550
50,315
363,344
At 31 March 2024
118,763
50,263
169,026
Debtors
2025
2024
Trade debtors
Deferred expenditure
Grant funding receivable
Other debtors
Tax and social security
Prepayments
72,574
37,787
43.000
21,633
7.750
147.348
6,041
8,940
3,788
4,708
90,010
263,559
io.
CredAtors: amounts falling due
within one year
Bank loan
Trade creditors
Other taxes and social security costs
Other creditors
Grants paid in advance
2025
2024
20,825
21,952
7,993
4,471
26.451
27.621
10,105
5,083
25,000
81,692
67,809
Creditors: amounts falling due
after more than one year
Loan
Deferred income
2025
2024
304,130
275,352
17.102
304,130
292,454
Page 20

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The Fern Partnership
Notes to the financial statements
for the year ended 31 March 2025
Movement on funds - continued
Unrestricted funds:.
Unrestiicted general funds may be spent generally for the fllrthering the charitable work of The
Fern Partnership. The fund in this category is the General Fund.
The unrestricted designated fund was WG Resilience funding secured lo provide support to
families and young people who are suffering with mental health & well being problems caused by
isolation through COVID. Funding has been set aside to work in partnership with Ferndale
Community School lo create a Wellbeing officer to support our families in the Community.
R£8tricted funds:.
A wards for All
The Fern Partnership was awarded £IO.000 in 2023-24 to deliver a number of Health & Wellbeing
events acTOSS our cottmunities eg Jubilee events, Themed events , visits to outside attractions.
Con]munities for Work
CFW As a government funded project to help those adults furthest away from the labour into
employment. It builds on our existing prograTnmes to tackle poverty to help get people into work
and helps engageEnent with our community in Maerdy alld Ferndale.
RCTSPF
The UK Shared Prosperity Fund (UKSPF) is a new funding stream for local investment in
accordance with the UK government's Levelling up Agenda. This is a new funding programme for
RCT and it is anticipated that the third sector will benefit from this ￿ndIng up until March 2025.
Winter Hardship Fllnd
This grant was awarded by Rcf to support families with food hampers etc through pressures
caused by the cost of living crisis.
Winter of Wellbeing
The Fern Partnership secured funding for a number of projects throu￿1 RCT. Play schemes After
School Clubs Baby & Toddler Groups, Summer of Fun and Winter of Wellbeing. All these funds
help us provide activities for children and young people.
Community Ownership Fund (COF)
The Fern Partnership was awarded £350,000, £250,000 capital and £50,000 revenue towards the
purchase of Fuze Soft Play & Climbing Centre.
Interlink
This grant was awarded by Interlink to support families with food hampers etc through pressures
caused by the cost of liviJ)g crisis.
Page 22

The Fern Partnership
Notes to tlie financial statements
for the year ended 31 MArch 2025
Movement on funds - continued
Lottery
People & Places funding was awarded to fund overhead costs of Ferndale Hwb. This funding has
enabled us to strengthen our back-office support for the whole organisation. Managing sysletns
such as fee collection for childcare as well a booking system for Fuze Soft Play & Climbing
Centre.
RCT
RCT funding (£1,000) for Neighbourhood Network project and £1,620 from the Cotnmunity
Facilities.
12.
Analysis of Net Assets between Funds
Total
2025
Unrestrieted Restricted
Tangible Fixed Assets
Net Cll￿ent Assets
Long Tenn Liabilities
363,344
164,632
(304,130)
363,344
164,632
(304,130)
223,846
223.846
13. Related party transaetions
No payment of salary or expenses was made to any trustee for the year under review. (2024 - Nil)
Page 23