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2022-03-31-accounts

REGISTERED COMPANY NUMBER: 10568307 (England and Wales) REGISTERED CHARITY NUMBER: 1171877

REPORT OF THE TRUSTEES AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

CARE AND REPAIR WESTERN BAY

CARE AND REPAIR WESTERN BAY

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

Page
Report of the Trustees 1 to 11
Report of the Independent Auditors 12 to 15
Consolidated Statement of Financial Activities 16
Consolidated Balance Sheet 17
Charity Balance Sheet 18
Consolidated Cash Flow Statement 19
Notes to the Cash Flow Statement 20
Notes to the Financial Statements 21 to 37

CARE AND REPAIR WESTERN BAY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The organisation was formed for the benefit of the community. The objects of the Charity are, to relieve the needs of people living in the areas of Swansea and Neath Port Talbot who are disadvantaged by reason of age, ill-health or disability, by the provision of support, assistance, facilities, amenities and services to such people in respect of their housing and surrounding environment.

In giving effect to the above objectives, the Board uses its best endeavours to ensure that monies raised are to support the housing-related needs of older and disabled people.

The trustees of Care and Repair Western Bay have had regard to the guidance issued by the Charity Commission on public benefit and confirm that all of our activities are undertaken to further our charitable purposes for the public benefit. Our main objective is to support older people living in Neath Port Talbot and Swansea to enable them to live in safe, warm, secure and appropriate homes for their needs and to facilitate independent living.

Care and Repair provides a Core Casework home visiting service through the charity for older people to assess individual client housing need and accepts referrals from other Third Sector agencies, Health, Social Services, Housing and individual clients or their friends, family or carers. A wide range of Handyperson services are delivered through the Agency's social enterprise, Care and Repair Solutions, to meet these objectives.

Care and Repair is a unique service approach, which combines social care related individual assessments and values linked to dignity, care and respect and the technical expertise required for managing building work. It is a citizen-centred and problem-led service that is based on a visit to the older person's home. As such it relates a human assessment to a technical assessment of the lived environment, to provide a personalised package of home improvement. The objective is to support the older person's choice to remain living in their own home and in their own community for as long as they are able and chose to do so. The service method is not 'off the shelf' but 'individually tailored', using statutory assistance where relevant, but also a range of privately arranged, locally brokered and where possible in-house cost effective services to support informed choices. The service is holistic in that it will refer on to other statutory and third sector providers to ensure a comprehensive package of solutions are secured.

CARE & REPAIR SOLUTIONS

Whenever appropriate, practical Handyperson support has been given through the Agency's trading arm, Care & Repair Solutions. This social enterprise was developed, following the Board of Trustees decision to future-proof practical services and develop new funding streams for older people’s services.

The trading arm is separately constituted and directed by its own Board of Management and runs as a social enterprise. All profits made by Care and Repair Solutions are gifted back to the charity to support the charity in fulfilling its objectives and purpose. Care and Repair Solutions is VAT registered.

The social enterprise gives our client group access to safe, reliable low-cost solutions to their housing problems. It provides support to help people complete small and medium scale adaptations and repairs to their property. The service supports older people to accelerate discharge from hospital to a safe and comfortable home, prevent inappropriate hospital admission, promote physical and mental health and wellbeing, reduce reliance on statutory health and social care services and promote independent living. We have specialist Gas Safe and Electrical services in house and the social enterprise employs 25 staff across the Handyperson and support services.

Page 1

CARE AND REPAIR WESTERN BAY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

During 2021 - 2022 the social enterprise completed works for Care and Repair Western Bay under the following projects:

o Rapid Response Adaptations Programme (RRAP) - funded by Welsh Assembly Government and ABM University Local Health Board.

o Mini Adaptations Grant - funded by City & County of Swansea Housing Renewal & Adaptation Section. o Health Visitor Grant - funded by ABM University Local Health Board.

o Handyperson General Works - since 2005 this service has provided additional access to Handyperson services for clients who have the resources to fund works but prefer Care and Repair staff based on trustworthiness and reputation.

o Hardship Fund - developed in 2008. Now funded by the trading arm and client donations from the previous year. This Fund supports the costs of some full-cost works, primarily General Works.

o Essential Access Grant - a minor adaptations grant - funded by NPT County Borough Council Housing and Social Services Departments.

o Community Safety partnership - a minor security grant - funded by NPT County Borough Council Crime Prevention Department.

o Keysafe Project - a keysafe fitting service - funded by NPT County Borough Council Social Services Department.

o Assistive Technology - a Telecare service - funded by NPT County Borough Council Social Services Department.

o Integrated Care Fund - delivery of a range of projects to improve housing conditions as linked to poor health and wellbeing outcomes - funded by Welsh Government.

o ENABLE - delivery of small adaptations fitting service - funded via City and County of Swansea.

o Swansea Carers Respite / Regional Lightening the Load Service – delivery of services to help Carers perform their caring role, including cleaning, gardening and small repairs.

o Walk in Shower Fitting Service – utilising support funding from WCVA a new service was developed to install walk in showers.

Objects of Care & Repair Solutions

The company's objects shall include carrying on the business of:

  1. Providing independent, practical advice, advocacy and support services.

  2. Facilitating property adaptations, repairs, improvements, upgrades and renovations.

  3. Promoting good property management.

  4. Providing property maintenance advice and training.

  5. Enhancing the quality of life of community residents and supporting community regeneration.

Assets of Care & Repair Solutions

Care & Repair Solutions was established to assist the sole member (Care and Repair Western Bay) to deliver its charitable objects or raise funds for the sole member, in such manner as may from time to time be determined by the Board of Directors. The income and property of the company shall be applied in accordance with the objects and powers of the company and any surplus shall be distributed as decided by Care and Repair Western Bay, as the sole member.

This social enterprise complements the Casework Services of Care and Repair Western Bay by delivering Handyperson works funded by our projects. In addition, it has opportunities to develop new services as a social enterprise with customers that are not traditional Care and Repair clients.

During a difficult year where all Care & Repair charity and trading arm service delivery continued to be impacted by Covid-19 recovery, the trading arm completed 6,223 jobs for both Care and Repair Western Bay clients and new customers. The average cost of works completed was £364.

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CARE AND REPAIR WESTERN BAY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

Covid-19

The Covid-19 pandemic has had a significant impact on demand for our services as traditionally our services have been based on a home visit assessment by our Casework I Technical Service and completion of Handyperson works. During the first quarter of 2021 - 2022 our services were severely impacted with our home visiting services diversifying into telephone and befriending support. Our Handyperson service continued to complete urgent and essential repairs and improvements linked to hospital discharge and critical prevention cases. Robust Health & Safety measures were implemented alongside extensive Risk Assessments and the use of appropriate PPE for each home visit.

We have developed an extensive and comprehensive range of Health & Safety processes and procedures that have been in operation since the initial lockdown period when we were designated with keyworker status by Welsh Government because of the vital services we provide to older people in the community. These policies and procedures protected both clients and staff throughout the high risk initial period and the Winter periods where spread of the virus was at its peak and when the unfortunate number of deaths as a result of the virus was high. These remain robust and are strict standards and guidelines we continue to work to.

We have provided advice and practical solutions to older people living in Swansea and Neath Port Talbot in respect of home repairs and adaptations to maintain independence and well being at home and reduce the risk of falls. Throughout the year demand for our services and referrals made have continued to increase and we are currently experiencing the busiest and most sustained period of demand for our services in our 21 year history.

Who used and benefited from our services :

Our objects limit the services we can provide to older people living in Neath Port Talbot and Swansea. 30% of the total population of the area (381,200 persons) is aged over 60 and Wales has the highest level of unfit housing throughout the UK.

Older people are most likely to live in poor conditions. In Wales, 23% of dwellings have repair costs over £1,000 and 4% have costs in excess of £5,000, terraced houses stand out as most likely to be in poor condition. The tendency to live in poor conditions increases with age, particularly after 80 and many homes contain potential risks to health and wellbeing of older people, particularly risks from excessive cold, damp or falls. The needs of older people can be varied and complex and we treat each client individually, offering them a bespoke and holistic Casework service and Healthy Homes Assessment.

The population needs assessment completed by the Western Bay Regional Partnership Board highlights the following key points for older people living in Swansea and Neath Port Talbot;

The majority of older people that we work with insist that they wish to remain in their own homes and remain living independently for as long as they are able. Our services help older people address housing issues and meet their other needs in order to facilitate independent living. This helps people 'stay put' at home and in their communities.

Page 3

CARE AND REPAIR WESTERN BAY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

As an independent non-statutory not-for-profit Home Improvement Agency Care and Repair Western Bay provides practical support, information and advocacy for older and disabled people and carers living within the City & County of Swansea and the County Borough of Neath Port Talbot. The organisation is closely monitored and supported by Care & Repair Cymru on behalf of Welsh Government.

The Agency's Strategic Business Plan 2021 – 2024 continues to reflect the organisation's role in supporting the statutory sector's objectives to promote health, social care and wellbeing of older and disabled people and their carers. Welsh Government continues to fund the support provided by Care and Repair Western Bay's core casework and technical services, alongside several funding routes from local and national funding partners.

Care and Repair Western Bay works in close partnership with statutory sector service providers including Neath Port Talbot County Borough Council's Social Services and Housing Department, City & County of Swansea Directorates of Social Services & Housing and Swansea Bay University Health Board; all are represented on the Care and Repair Western Bay Board of Trustees.

Care and Repair Western Bay supports the housing needs of residents whose homes are in need of repair, improvement or adaptation. Where necessary, specialist support is provided by visiting staff that, in the first instance, complete a Healthy Home Check to help identify issues, access funding and/or provide advice and information. In addition, Care and Repair Western Bay has developed a range of projects that provide practical solutions; for example, organising the supply and fitting of minor adaptations and the completion of small repairs. The combination of our staff support and service options as well as our clients' knowledge that we will always be a safe option for their future housing problems aims to ensure that they remain comfortable, independent, safe and secure in their communities for as long as possible.

OBJECTIVES AND ACTIVITIES

Significant activities

Every year Care & Repair Cymru carry out a Performance Evaluation for each agency. Care and Repair Western Bay's 2021 – 2022 Performance Evaluation reflects that the Agency has met all its performance baselines and quality standards to a high level. These are notable achievements in a year where extensive Covid-19 recovery was experienced.

All eligible clients are offered the support of our casework and technical services team. These staff focus on providing a bespoke service, utilising our own projects as a primary solution for most of our clients' needs. The standard home visit assessment includes the Caseworker completing:

Clients are referred to other statutory and third sector organisations when other help is needed.

Between April 2020 and March 2021, the Casework and Technical team visited 1,526 older people in housing need to complete a Healthy Homes Check and completed 106 Healthy Home Checks over the telephone. Casework support for welfare benefit claims obtained an additional income of £1,001,463 for our clients. The Casework Team also raised £1,500 charitable funds to support the costs of client works.

Visiting Casework and Technical staff are qualified trusted assessors and NEA Fuel Poverty Assessors. We continue to increase our technical support for clients who wish to privately fund their work. More detail of the achievements of our core service can be found in the Care and Repair Western Bay Evaluation 2020 - 2021.

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CARE AND REPAIR WESTERN BAY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

Public benefit

The trustees of Care and Repair Western Bay have had regard to the guidance issued by the Charity Commission on public benefit and confirm that all of our activities are undertaken to further our charitable purposes for the public benefit. Our main objective is to support older people living in Neath Port Talbot and Swansea to enable them to live in safe, warm, secure and appropriate homes for their needs and to facilitate independent living. We provide a wide range of home visiting Casework services through the charity and a wide range of Handyperson services through our social enterprise, Care and Repair Solutions, to meet these objectives.

Volunteers

Volunteers working as members of the Board of Trustees of the organisation form a significant contribution to Care and Repair Western Bay and Care & Repair Solutions. There are no other volunteers. Board Members spend over 200 hours a year supporting the organisation

FINANCIAL REVIEW

Financial Review

The consolidated financial statements for the year ended 31 March 2022 summarises Care and Repair Western Bay's activities together with those of the trading arm, Care & Repair Solutions Limited.

The trading arm had another successful year and we fully expect a donation of some of their profits for us to utilise to the benefit of our older clients.

Care and Repair Western Bay's Board of Trustees is satisfied with the performance of Care and Repair Western Bay and Care & Repair Solutions for the year, and considers the state of affairs to be satisfactory, and to remain satisfactory for the foreseeable future.

Care and Repair Western Bay received significant funding during the year from the Integrated Care Fund Capital Projects which was not budgeted for at the start of the year. This allowed us to complete substantially more works for older people throughout Neath Port Talbot and Swansea.

Income

The total income for the Group for the year was £3,135,565 (2021: £2,608,251) comprising:

Expenditure

The total expenditure for the Group for the year was £2,818,588 (2021: £2,411,421).

Expenditure remains under constant review, as the organisation continues to make every effort to control its administration costs.

The Group has reported a surplus for the year after tax of £509,342 (2021 - £82,367 deficit) after accounting for the re-measurement gain on defined benefit pension costs of £199,000 (2021: £270,580 loss).

Reserves

The Group's unrestricted reserves as at the 31 March 2022 stood at £1,282,302. Of these £265,083 (2021: £351,317) had been designated for future use and, as a result, free reserves at the 31 March 2022 were £1,017,219.

Reserves policy

Care and Repair Western Bay's Board of Trustees has considered the reserves policy with the aim of ensuring that the Group's future expenditure can be met, given certain assumptions made about future income streams.

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CARE AND REPAIR WESTERN BAY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

The objectives of the reserves policy have been set as follows:

Pension deficit

Pension deficits have been considered by the Board of Trustees and we have worked together to reduce employer contribution costs. The employer contribution for the Defined Contribution Scheme is 3%. Staff are legally obliged to contribute a minimum of 5% if they are a member of the pension scheme.

The Board is aware of its responsibilities and have taken steps to reduce current costs whilst monitoring long term liabilities.

FUTURE PLANS

We plan to continue delivering our Casework, Technical Service and trading arm services for as long as practicable, subject to satisfactory funding arrangements and ongoing sustainability. During 2022 - 2023 we aim to help 3,500 older people through our Casework and Technical service and a further 3,000 people through our social enterprise.

We aim to diversify our funding arrangements as much as possible by sourcing alternatives to traditional grant funders and to develop the range of works completed within the trading arm. All of our activities remain focused on helping and supporting older people to repair, maintain and adapt their homes so that they are able to live in safe, secure, warm and comfortable homes appropriate to their needs and that maximise independence and well-being.

During 2022 – 2023 Care and Repair Western Bay's Board of Trustees and Care and Repair Solutions' Board of Directors must focus on:

Together we will continue to support our funding partners by providing accountability, value for money and excellent service delivery as exemplar Care & Repair for City & County of Swansea, the County Borough of Neath and Port Talbot and Swansea Bay University Health Board.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Care and Repair Western Bay was incorporated on 17 January 2017 following the merger of Care and Repair Neath Port Talbot and Swansea Care and Repair. The company was established under a memorandum of association and is governed under its Articles of Association. These outline the powers and objects of the charity and provide that in the event of the company being wound up the liability of its members is limited to a sum of £1.

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CARE AND REPAIR WESTERN BAY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

Recruitment and appointment of new trustees

All trustees give their time voluntarily and receive no benefits from the charity. There were 9 subscribers to the Memorandum of association when the company was established. These original subscribers and trustees were: Sara Forster, David Tovey, Linda Whittaker, Christopher Jones, Johanna Davies, Eirian Davies, Colin Morgan, John Rogers and Robert Davies.

Under the requirements of the Articles of Association the trustees have control of the charity and its property and funds.

Every trustee after appointment or reappointment must sign a declaration of willingness to act as a charity trustee of the charity before he or she may vote at any meeting of the trustees. Apart from the first trustees, every trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the trustees.

In selecting individuals for appointment as trustees, the trustees must have regard to the skills, knowledge and experience needed for the effective administration of the charity. All trustees are appointed by vote by the Board of Trustees.

Induction and training of new trustees

Potential trustees are invited to observe at meetings of the trustees. New trustees are invited to meet with the Chief Officer and visit the offices to familiarise themselves with the charity and the context within which it operates. A Trustee Induction pack is provided which covers: obligations of trustees, conflict of interest, the operational and financial framework of the charity, the aims, objectives and activities of the charity, performance and future plans and objectives. A copy of the charity's Articles of Association and Charity Commission guidance and information is provided to new trustees and updated for current trustees when necessary.

STRUCTURE, GOVERNANCE AND MANAGEMENT Decision making

The Board of Trustees must meet at least quarterly and are responsible for the strategic direction and policy making of the charity. A skills matrix of trustees has been completed and the trustees are from a variety of backgrounds relevant to the history, work and environment of the charity.

The trustees are responsible for ensuring that the charity is carrying out its purposes for the public benefit as well as ensuring performance and financial accountability, formulating policy and gaining foresight, strategic thinking and supervising management.

Day to day responsibility for the charity rests with the Chief Officer and in turn the Service Manager, Operations & Compliance Manager and the Trading Arm Manager. To facilitate effective operations the management team has delegated authority, as approved by the trustees, for operational matters including finance and performance related activity. Employees of the charity attending the Board of Trustees meetings do not have any voting rights.

New Members are given an induction pack containing:

1. Governing Documents

2. The Role of Board Trustees

3. Standing Orders and Terms of Reference

4. Membership Policy for Care and Repair Western Bay Trustees

5. Finance

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CARE AND REPAIR WESTERN BAY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

6. Business Plans

7 Health and Safety

All Board Members are encouraged to attend training sessions

Organisational structure

The affairs of the organisation are directed by the Board of Trustees who meet on a regular basis. The Board shall consist of five members or such greater number not exceeding twelve. The Board currently consists of 12 trustees meeting quarterly to discuss Care and Repair Western Bay, review the financial position, asses strategy and performance, and all other charity matters which require the decision of the Board in accordance with the Constitution.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Risk Review

The Board of Trustees has a risk management strategy which comprises of:

An example of a 'high risk' area was the merger between the two agencies to form Care and Repair Western Bay. The Board analysed the risk and carried out a due diligence exercise before deciding that a merger was the best way to protect the future of the agency. ·

Current 'high risk' examples are the long-term effects of Covid-19 recovery on Agency funding, services and sustainability, the accommodation commitment or the Pension Deficit liability. Major risks are reviewed at Board level and systems and procedures are established to manage those risks.

Care and Repair Cymru are also developing a national Risk Register for all agencies throughout Wales.

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CARE AND REPAIR WESTERN BAY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 10568307 (England and Wales)

Registered Charity number 1171877

Registered office

13c Valley Way Alberto Road Swansea SA6 8QP

Trustees

D W Tovey Chair Mrs J Hall Davies Vice Chair C R Jones Trading Arm Chair C Morgan Trading Arm Vice Chair L A Whittaker P D Richards D P Harrison R I Davies D T Evans D Williams B Hinchey S Learmonth

Senior Management Team E Tweed - Chief Officer K Jones – Service Manager S George – Operations & Compliance Manager G Roberts – Trading Arm Manager

Company Secretary E Tweed

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CARE AND REPAIR WESTERN BAY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

REFERENCE AND ADMINISTRATIVE DETAILS Auditors

Bevan Buckland LLP Chartered Accountants and Statutory Auditors Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA

Solicitors

John Collins and Partners Copper Court Phoenix Way Enterprise Park Swansea SA7 9EH

Bankers

Unity Trust Bank PLC Nine Brindley Place Birmingham B1 2HB

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CARE AND REPAIR WESTERN BAY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Care and Repair Western Bay for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

AUDITORS

The auditors, Bevan Buckland LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Approved by order of the board of trustees on ............................................. and signed on its behalf by: 14.09.2022

................................................................. E Tweed - Secretary

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CARE AND REPAIR WESTERN BAY FOR THE YEAR ENDED 31 MARCH 2022

Opinion

We have audited the financial statements of Care and Repair Western Bay Communities Trust Ltd (the ‘parent company') and its subsidiary (the ‘group’) for the year ended 31 March 2022 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, Charity Balance Sheet, the Consolidated Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our 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 Standard, 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 relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are 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 information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CARE AND REPAIR WESTERN BAY FOR THE YEAR ENDED 31 MARCH 2022

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

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

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

Our responsibilities for the audit of the financial statements

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

Extent to which the audit was considered capable of detecting irregularities, including fraud

We identify and assess the risks of material misstatement of the Financial Statements, whether due to fraud or error, and then, design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

We discussed our audit independence complying with the Revised Ethical Standard 2019 with the engagement team members whilst planning the audit and continually monitored our independence throughout the process.

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CARE AND REPAIR WESTERN BAY FOR THE YEAR ENDED 31 MARCH 2022

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

Audit response to risks identified

In addition to the above, our procedures to respond to risks identified included the following:

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

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

Use of our report

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

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CARE AND REPAIR WESTERN BAY FOR THE YEAR ENDED 31 MARCH 2022

Henry Lloyd Davies (Senior Statutory Auditor) for and on behalf of Bevan Buckland LLP Chartered Accountants And Statutory Auditors Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA Date: .............................................

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CARE AND REPAIR WESTERN BAY

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2022

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Charitable activities
4
Care & Repair
Investment income
3
Other income 5
Total
EXPENDITURE ON
Charitable activities
7
Care & Repair
Total Expenditure
Re-measurement gains/(losses) on defined
benefit pension
NET INCOME BEFORE TAXATION
Taxation
NET INCOME
Transfers between funds
19
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
funds
£
396,770
895,194
416
13,377
1,305,757
988,780
988,780
199,000
515,977
(6,635)		 Restricted
funds
£
-
1,829,808
-
-
1,829,808
1,829,808
1,829,808
-
-
-		 Restricted
funds
£
-
1,829,808
-
-
1,829,808
1,829,808
1,829,808
-
-
-		 2022
Total
funds
£
396,770
2,725,002
416
13,377
3,135,565
2,818,588
2,818,588
199,000		 2021
Total
funds
£
394,989
2,212,810
308
144
2,608,251
2,411,421
2,411,421
(270,580)		 2021
Total
funds
£
394,989
2,212,810
308
144
2,608,251
2,411,421
2,411,421
(270,580)
-
-		 515,977
(6,635)		 (73,750)
(8,617)
(82,367)
-
(82,367)
855,327
772,960
509,342
-
509,342
772,960
1,282,302		 -
-
-
-
-		 509,342
-
509,342
772,960
1,282,302

The notes form part of these financial statements Page 16

CARE AND REPAIR WESTERN BAY

CONSOLIDATED BALANCE SHEET 31 MARCH 2022

Notes
FIXED ASSETS
Intangible assets
15
Tangible assets
16
CURRENT ASSETS
Stocks
Debtors
17
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
18
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
PROVISION FOR LIABILITIES
NET ASSETS
FUNDS
19
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
funds
£
6,991
88,960
95,951
26,377
183,360
1,808,696
2,018,433
(624,131)
1,394,302
1,490,253
(207,951)
1,282,302		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
-
-
-		 2022

Total
funds
£
6,991
88,960
95,951
26,377
183,360
1,808,696
2,018,433
(624,131)
1,394,302
1,490,253
(207,951)
1,282,302
1,282,302
-
1,282,302		 2021
Total
funds
£
5,094
81,754
86,848
15,904
46,351
1,294,308
1,356,563
(237,135)
1,119,428
1,206,276
(433,316)
772,960
772,960
-
772,960

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 14.09.2022

............................................. D W Tovey - Trustee

The notes form part of these financial statements Page 17

CARE AND REPAIR WESTERN BAY

CHARITY BALANCE SHEET 31 MARCH 2022

Notes
FIXED ASSETS
Tangible assets
16
CURRENT ASSETS
Debtors
17
Cash at bank
CREDITORS
Amounts falling due within one year
18
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
PROVISION FOR LIABILITIES
NET ASSETS
FUNDS
19
Unrestricted funds
Restricted funds
TOTAL FUNDS		 Unrestricted
funds
£
18,570
127,099
1,596,691
1,723,790
(523,128)
1,200,662
1,219,232
(191,000)
1,028,232		 Restricted
funds
£
-
-
-
-
-
-
-
-
-		 2022

Total
funds
£
18,570
127,099
1,596,691
1,723,790
(523,128)
1,200,662
1,219,232
(191,000)
1,028,232
1,028,232
-
1,028,232		 2021
Total
funds
£
21,579
26,730
1,260,652
1,287,382
(257,208)
1,030,174
1,056,337
(423,000)
633,337
633,337
-
633,337

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 14.09.2022

............................................. D W Tovey - Trustee

The notes form part of these financial statements Page 18

CARE AND REPAIR WESTERN BAY

CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2022

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Interest received
Net cash used in investing activities
Cash flows from financing activities
Loan repayments in year
Net cash used in financing activities
Change in cash and cash equivalents
in the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end
of the reporting period		 2022
£
558,982
558,982
(45,010)
416
(44,594)
-
-
-
514,388
1,294,308
1,808,696		 2021
£
302,521
302,521
(73,201)
308
(72,893)
-
-
-
229,628
1,064,680
1,294,308

The notes form part of these financial statements Page 19

CARE AND REPAIR WESTERN BAY

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2022

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES OPERATING ACTIVITIES
2022 2021
£ £
Net income for the reporting period (as per the Statement of
Financial Activities) 509,342 (73,750)
Adjustments for:
Depreciation charges 35,552 23,740
(Profit)/loss on disposal of fixed assets 355 (68)
Re-measurement gains/(losses) on defined benefit pension (225,365) 270,580
Interest received (416) (308)
Increase in stocks (10,473) 6,425
(Increase)/decrease in debtors (137,009) 34,000
Increase in creditors 386,996 41,834
Net cash provided by operations 558,982 302,521
2. ANALYSIS OF CHANGES IN NET FUNDS
Net cash
Cash at bank
Total		 At 1.4.21
£
1,294,308
1,294,308		 Cash flow
£
514,388
514,388		 At 31.3.22
£
1,808,696
1,808,696

The notes form part of these financial statements Page 20

CARE AND REPAIR WESTERN BAY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

Consolidation

The income and expenditure account and balance sheet consolidate the financial statements of the parent Care and Repair Western Bay and its subsidiary undertaking, Care and Repair Solutions Ltd. The results of the subsidiary are consolidated on a line by line basis.

Going concern

The trustees are satisfied that despite the Coronavirus pandemic, it is appropriate for the group's financial statements to be prepared on a going concern basis. The pandemic has resulted in a number of uncertainties arising and the trustees have taken steps to minimise the effect on the company and will continue to do so. Further details can be found in the future plans section of the Report of the Trustees. In the circumstances they have concluded that no adjustments are required to the financial statements at this time.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

This includes capital grants.

Donations and legacies income includes donations, gifts and grants that provide core funding or are of a general nature and are recognised where there is entitlement, probability of receipt and the amount can be measured with sufficient reliability. Such income is only deferred when the donor specifies it must be used in future accounting periods or the donor has imposed conditions which must be met before the charity has unconditional entitlement.

Income from charitable activities includes income received under contract or where entitlement to grant funding is subject to specific performance conditions. This income is recognised where there is entitlement, when the receipt is probable and the amount can be measured reliably. Income is deferred when the amounts received are in advance of the performance of the service or 'event to which they relate.

Other trading activities are recognised as the related services are provided and there is entitlement, probability of receipt and the amount can be measured with sufficient reliability. Income is deferred when the amounts received are in advance of the delivery of the service or event to which it relates.

Investment income is recognised on a receivable basis.

It is not the policy of the charity to show income net of expenditure.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Page 21

CARE AND REPAIR WESTERN BAY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

Expenditure on charitable activities comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature to support them.

Support costs are those costs that, whilst necessary to deliver an activity, do not themselves produce or constitute the output of the charitable activity. This includes governance costs which are those costs associated with meeting the constitutional and statutory requirements of the charity and include the accountancy fees and costs linked to the strategic management of the charity as well as a proportion of salaries based on an approximation of time spent in this area.

Expenditure

Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates.

Allocation and apportionment of costs

All costs are allocated between the expenditure categories on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly; salaries and related costs are apportioned based on time spent and overhead costs are apportioned in accordance with the proportion of employees.

Tangible fixed assets

The acquisition of motor vehicles, computers, office and other equipment is capitalised where the gross cost of such items exceeds £250, and the net cost after grants and other capital contributions is written off over the estimated useful life of that asset.

Depreciation is charged on a straight line basis at rates estimated to write off the net cost of fixed assets over their useful economic life as follows:

Improvements to property Over the term of the lease Motor Vehicles 25% - 33.33% straight line Computer equipment 25% straight line Office equipment 25% straight line

Fixed assets are initially recorded at cost.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The organisation also participates in the Social Housing Pension Scheme (SHPS) funded and contracted-out of the State Pension scheme. It is not possible in the normal course of events to identify on a consistent and reasonable basis the share of underlying assets and liabilities to individual participating employers. This is because the Scheme is a multi-employer scheme where the scheme assets are co-mingled for investment purposes, and benefits are paid from total scheme assets. Accordingly, due to the nature of the scheme, the accounting charge for the period represents the employer contribution payable.

Operating leases

Rentals applicable to operating leases where substantially all of the benefits and risks of the ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Page 22

CARE AND REPAIR WESTERN BAY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

1. ACCOUNTING POLICIES - continued

Employee benefits

When employees have rendered service to the group, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

Financial Instruments

The group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Debtors with no stated interest rate and receivable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. Prepayments are valued at the amount prepaid net of any trade discounts due.

Creditors and provisions are recognised where the group has a present Obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Significant accounting judgements and estimates

Estimates and judgements are continually evaluated and are based on historical experience and other relevant factors, including expectations of future events that are believed to be reasonable under the circumstances.

The preparation of the financial statements requires management to make estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, be likely to differ from the related actual results. No estimates or assumptions have been identified that have Significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements

2. DONATIONS AND LEGACIES

2022
2021
£
£
Client donations
Grants
6,574
390,196
4,793
390,196
396,770
394,989		 2022
£
6,574
390,196
396,770		 2021
£
4,793
390,196
394,989

Page 23

CARE AND REPAIR WESTERN BAY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

Grants received, include in the above, are below:

Grants received, include in the above, are below:
Welsh Government
Neath Port Talbot County Borough Council
3.
INVESTMENT INCOME
Group
2022
2021
£
£
Deposit Account interest
416
416
Group
2022
2021
£
£
385,216
4,980
385,216
4,980
390,196
390,196		 2022
£
385,216
4,980
390,196		 2021
£
385,216
4,980
390,196
2022
£
416		 2021
£
308

4. INCOME FROM CHARITABLE ACTIVITIES

2022
2021
£
£
Grants
Clients contribution to work
Benevolent funding
Charitable trading income
From Care & repair Solutions
2,737,843
1,673,345
720
1,500
537,245
2,212
Grants received, included in the above, are as follows;


Welsh Government – RRAP Revenue Grant
Welsh Government – RRAP Capital Grant

Welsh Government – Winter Pressure

City & County of Swansea Housing Department
Swansea Bay University Health Board (Core)
Integrated Care Fund (ICF)
Integrated Care Fund (ICF) – Primary Care Caseworkers
and Technical Project
Heath Board – Winter Pressure
Neath Port Talbot CBC
City & Council of Swansea – ENABLE
Care and Repair Cymru
WDP Affordable Warmth
Calon Y Cymoedd
Wales Council for Voluntary Action
Citizens Advise Bureau
Swansea Council – Respite for Unpaid Carers
Swansea Council for Voluntary Services
COVID Job Retention Scheme Grant
Health Board – Regional Prevention Funding
2022
2021
£
£




2,114,727
1,496
400
608,379
1,673,345
720
1,500
537,245
2,725,002 2,212,810
2022 2021
£
£
39,600
39,600
201,500 166,500
4,37 5,000
162,17
82,651
25,637
18,386
668,14 775,000
88,277 52,625
145,587
-
193,057
78,382
379,500 301,647
84,214
91,968
10,500
7,500
10,000 13,205
33,297 17,577
6,000
6,000
46,726
-
1,700 7,096
-
10,208
14,442
-
2,114,727 1,673,345

Page 24

continued...

CARE AND REPAIR WESTERN BAY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

5. OTHER INCOME



Other income		 2021 2022
£
£
13,499 144

6. RESULTS OF PARENT CHARITABLE COMPANY

The income of the parent charitable company was £3,119,276 and net income was £326,488.

7. CHARITABLE ACTIVITIES COSTS

CHARITABLE ACTIVITIES COSTS
Care & Repair Direct
Costs
£
2,640,965		 Support
costs
£
177,623		 Totals
£
2,818,588
2,640,965 177,623 2,818,588

8. DIRECT COSTS OF CHARITABLE ACTIVITIES

Staff costs
Direct purchasing and contractor costs

Other direct costs
Staff training costs
Travel and Subsistence
Motor expenses
Rent, rates and other premises costs
Insurance
Light and heat
Cleaning costs
Telephone costs
Printing, postage and stationery
Repairs and maintenance
Sundry expenses
Computer costs
Recruitment costs
Bad and doubtful debt
Staff management costs
Improvements to property
Equipment hire & rental
Depreciation
TOTAL
 Total
2022
£

1,248,011
899,471

89,037
5,228
14,651
-
78,552
11,330
7,825
6,645
22,141
14,127
149,060
7,259
33,735
11,901
1,362
482
4,686
2,458
33,004
2,660,590		 Total
2021
£
1,039,268
882,629
83,751
6,849
10,032
274
73,590
10,264
6,015
3,798
20,436
12,034
2,511
5,040
19,987
1,010
-
1,908
-
-
19,486
2,198,882

Page 25

continued...

CARE AND REPAIR WESTERN BAY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

9. SUPPORT COSTS

Salaries Depreciation/ Other Governance Total Amortisation costs £ £ £ £ £ Care & Repair 111,637 2,548 32,398 11,415 155,450

Governance costs included Pension scheme finance costs £Nil (2021: £4,000).

10. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2022
2021
£
£
Auditors’ remuneration
9,408
6,000
Depreciation – owned assets
Amortisation of intangible fixed assets
Profit/(loss) on sale of tangible fixed assets
96,721
21,192
2,548
-
Expenses under operating leases
140		 2022
£
9,200
33,004
2,548
355
78,000		 2021
£
6,000
21,192
2,548
-
98,804

11. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.

Trustees' expenses

There were no expenses paid to trustees in the year. In the prior year the charity paid £Nil in relation to training expenditure and towards the costs of holding trustee meetings.

12. STAFF COSTS

Group
2022
2021
£
£
Wages and salaries
3,635,006
3,382,341
Social Security Costs
286.175
227,097
Other Pension costs
73,462
56,911
3,994,643
3,666,349		 2022
£
1,110,388
88,473
49,150
1,248,011		 2021
£
1,051,010
88,909
28,546
1,168,465

The average monthly number of employees during the year was as follows:

Employed staff 2022
54		 2021
46

Page 26

continued...

13.

CARE AND REPAIR WESTERN BAY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

No employees received emoluments in excess of £60,000.

During the year no terminations benefits were paid (2021: £Nil)

The total key management personnel remuneration benefits during the year were £173,267 (2021: £98,643).

TAXATION

Analysis of the tax (credit)/charge

The tax (credit)/credit for the year was as follows.

2022 2021 £ £ Deferred tax 6,635 8,617 Tax 6,635 8,617

Page 27

continued...

CARE AND REPAIR WESTERN BAY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

14.
COMPARATIVES FOR THE CONSOLIDATED		 STATEMENT OF FINANCIAL ACTIVITIES STATEMENT OF FINANCIAL ACTIVITIES STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted
Total
funds funds funds
£ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 394,989 - 394,989
Charitable activities
Care & Repair 697,019 1,515,791 2,212,810
Investment income 308 - 308
Other income 144 - 144
Total 1,092,460 1,515,791 2,608,251
EXPENDITURE ON
Charitable activities
Care & Repair 907,183 1,504,238 2,411,421
Total 907,183 1,504,238 2,411,421
Re-measurement gains/(losses) on defined
benefit pension (270,580) - (270,580)
NET INCOME BEFORE TAX (85,303) 11,553 (73,750)
Tax (8,617) -
 (8,617)
NET INCOME FOR THE FINANCIAL YEAR
(93,920)
 11,553
 (82,367)
Transfers between funds 11,553 (11,553) -
Net movement in funds (82,367) - (82,367)
RECONCILIATION OF FUNDS
Total funds brought forward 855,327 - 855,327
TOTAL FUNDS CARRIED FORWARD 772,960 - 772,960

Page 28

continued...

CARE AND REPAIR WESTERN BAY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

15. INTANGIBLE FIXED ASSETS – Group

15. INTANGIBLE FIXED ASSETS – Group
Other
Intangible
Assets

£
COST
At 1 April 2021 10,190
Additions 4,445
And 31 March 2022 14,635
AMORTISATION
At 1 April 2021 5,096
Change for year 2,548
At 31 March 2022 7,644
NET BOOK VALUE
At 31 March 2022 6,991
At 31 March 2021 5,094

16. TANGIBLE FIXED ASSETS

Group

Improvements
to
property
£
COST
At 1 April 2021
103,255
Additions
-
Disposals
-
At 31 March 2022
103,255
DEPRECIATION
At 1 April 2021
98,308
Charge for year
2,541
Eliminated on disposal
-
At 31 March 2022
100,849
NET BOOK VALUE
At 31 March 2022
2,406
At 31 March 2021
4,947		 Fixtures
and
fittings
£
14,976
414
-
15,390
14,575
141
-
14,716
674
401		 Computer
Motor
Equipment
vehicles
& tools
£
£
126,847
62,292
33,675
6,476
-
(1,000)
160,522
67,768
75,010
37,723
19,234
8,090
-
(645)
94,244
31,815
66,278
15,490
51,837
24,569		 Totals
£
307,370
40,565
(1,000)
346,935
225,616
33,004
(645)
257,975
88,960
81,754

continued...

Page 29

CARE AND REPAIR WESTERN BAY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

Charity

Improvements
to
property
£
COST
At 1 April 2021
103,255
Additions
-
Disposals
-
At 31 March 2022
103,255
DEPRECIATION
At 1 April 2021
98,308
Charge for year
2,541
Eliminated on disposal
-
At 31 March 2022
100,849
NET BOOK VALUE
At 31 March 2022
2,406
At 31 March 2021
4,947		 Fixtures
and
fittings
£
14,976
414
-
15,390
14,575
141
-
14,716
674
401		 Motor
Computer
vehicles
equipment
£
£
15,499
45,185
-
3,120
-
(1,000)
15,499
47,305
15,499
24,370
-
8,090
-
(645)
15,499
31,815
-
15,490
-
20,815		 Totals
£
178,915
3,534
(1,000)
181,449
152,752
10,772
(645)
162,879
18,570
26,163

continued...

Page 30

CARE AND REPAIR WESTERN BAY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

17. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
2022
2021
£
£
Trade debtors
84,591
12,747
Amounts owed by group undertakings
-
-
Prepayments and accrued income
98,769
33,604
183,360
46,351
18.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Group
2022
2021
£
£
Trade creditors
173,252
128,106
Amounts owed to group undertakings
-
-
Social security and other taxes
23,522
10,408
VAT
18,826
34,523
Other creditors
Accruals and deferred income
50,988
357,544
29,217
34,881
624,131
237,135
19.
PROVISION FOR LIABILITIES
Group
2022
2021
£
£
Defined pension scheme provision
191,000
423,000
Deferred tax provision
16,951
10,316
207,951
433,316		 Charity
2022
2021
£
£
37,206
2,138
-
-
89,893
24,592
127,099
26,730
Charity
2022
2021
£
£
111,366
87,279
111,604
127,249
10,737
10,408
-
-
7,649
281,772
7,050
25,222
523,128
257,208
Charity
2022
2021
£
£
191,000
423,000
-
-
191,000
423,000

20. PROVISION FOR LIABILITIES

Minimum lease payments under non-cancellable operating leases fall due as follows:

Group
2022
2021
£
£
Within one year
-
423,000
Between one and five years
More than five years
-
10,316
-
433,316		 2022
£
76,404
99,000
123,750
299,154		 2021
£
87,934
51,654
-
139,588

Page 31

CARE AND REPAIR WESTERN BAY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

21. MOVEMENT IN FUNDS – CONSOLIDATED

Net
movement
At 1.4.21
in funds
£
£
Unrestricted funds
General fund
421,643
595,576
Designated fund – Tenant improvement
fund
7,557
(7,557)
Designed fund- Pension contingency fund
130,000
-
Designed fund- Hardship fund
Designated fund – Technical hardship
Designed fund – Accommodation reserve
10,000
-
203,760
10,000
44,740
(133,417)
772,960
509,342
Restricted funds
-
-
-
-
TOTAL FUNDS
772,960
509,342
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
1,305,757
Restricted funds
Rapid Response Adaptation Program
201,500
Essential access
ENABLE (Swansea) Fund
Benevolent funding
Care & Repair Cymru - Hospital to home caseworker
Care & Repair Cymru – Hospital to Home
Care & Repair Cymru – Critical Prevention fund
Winter Pressure fund
NPTCVS Volunteer Services – Winter Pressures
Warm Homes fund (ICF)
Managing Better fund (ICF)
WPD – Affordable warmth fund (ICF)
Dry Home (ICF)
Independent Living fund (ICF)
Keep me at home (ICF)
Healthy Home Grant (ICF)
Primary Care project (ICF)
Primary care caseworker and technical project (ICF)
WPD – Affordable warmth fund
Calon Y Cymoedd
WCVA Third Sector Recovery Fund
Pension Credit Campaign
Neath Port Talbot Slippage
74,360
379,500
400
12,000
33,587
41,170
100,000
4,370
83,518
83,518
83,518
83,518
83,518
83,518
83,518
83,518
88,277
10,500
10,000
100,000
6,000
100,000
1,829,808
TOTAL FUNDS
3,135,565		 Transfers
between
funds
£
-
-
-
-
-
-
-
-
-
-
Resources
expended
£
(796,415)
(201,500)
(74,360)
(379,500)
(400)
(12,000)
(33,587)
(41,170)
(100,000)
(4,370)
(83,518)
(83,518)
(83,518)
(83,518)
(83,518)
(83,518)
(83,518)
(83,518)
(88,277)
(7,500)
(10,000)
(100,000)
(6,000)
(100,000)
(1,829,808)
(2,626,223)		 At
31.3.22
£
1,017,219
-
130,000
20,000
44,740
70,343
1,282,302
-
-
1,282,302
Movement
in funds
£
509,342
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
509,342

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CARE AND REPAIR WESTERN BAY

NOTES TO THE FINANCIAL STATEMENTS – continued FOR THE YEAR ENDED 31 MARCH 2022

21. MOVEMENT IN FUNDS – continued

Comparatives for movement in funds – CONSOLIDATED

At 1.4.20
£
Unrestricted funds
General fund
641,550
Designated fund – Tenant improvement
fund
7,557
Designated funds – Pension contingency
fund
130,000
Designated fund – Hardship fund
4,220
Designated fund – Accommodation
reserve
72,000
855,327
Restricted funds
ENABLE (Swansea) fund
-
COVID-19 Funding
-
TOTAL FUNDS
855,327
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Rapid Response Adaptation Program
Essential access
ENABLE (Swansea) Fund
Benevolent funding
Home to Hospital Pilot
Winter Pressure fund
Warm Homes fund (ICF)
Managing Better fund (ICF)
Care & Repair Cymru – Critical Prevention fund
WPD – Affordable warmth fund
Primary care project casework and Technical Project
Independent Living fund (ICF)
Primary care fund (ICF)
Care & Repair Cymru – Hospital to Home
Calon Y Cymoedd
COVID-19 Funding
WCVA Third Sector Recovery Fund
Pension Credit Campaign
TOTAL FUNDS
 Net
Transfers
movement
between
At

in funds
funds
31.3.21
£
£
£
(93,920)
(125,987)
421,643
-
-
7,557
-
-
130,000
-
5,780
10,000
-
131,760
203,760
(93,920)
11,553
772,960
(1,953)
1,953
-
13,506
(13,506)
-
11,553
(11,553)
-
(82,367)
-
772,960

Incoming
Resources
Movement
resources
expended
in funds
£
£
£
1,092,460
(1,186,380)
(93,920)
166,500
(166,500)
-
68,000
301,467
1,500
5,807
5,000
200,000
175,000
40,671
7,500
52,625
200,000
200,000
40,614
13,205
15,645
16,077
6,000
(68,000)
(303,600)
(1,500)
(5,807)
(5,000)
(200,000)
(175,000)
(40,671)
(7,500)
(52,625)
(200,000)
(200,000)
(40,614)
(13,205)
(2,139)
(16,077)
(6,000)
-
(1,953)
-
-
-
-
-
-
-
-
-
-
-
-
13,506
-
-
1,515,791
(1,504,238)
11,553
2,608,251
( 2,690,618)
( 82,367)		 At
31.3.21
£
421,643
7,557
130,000
10,000
203,760
772,960
-
-

Page 33

CARE AND REPAIR WESTERN BAY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

Designated funds:

Tenant improvement fund

A fund has been set up equating to the net book value of the improvements to property.

Pension contingency reserve

To provide for pension contingency costs during any winding down of operations or change in pension provider.

Hardship fund

This fund aims to provide financial support for some or all of the costs of completion of works for vulnerable clients.

Accommodation reserve

To cover rent liabilities to the end of the lease, or if not required to assist with the purchase of a property at this time.

Restricted funds

Rapid Response Adaptations Programme

Welsh government provide funding to enable the charity to deliver a service as part of a partnership approach that provides a rapid response to referrals from Health and Social Care professionals for minor repairs/adaptations.

Essential access

Funding from Neath Port Talbot County Borough Council Housing and Social Services Department for minor repairs and adaptations in the Neath Port Talbot area.

Benevolent funding

This is funding claimed from charities on behalf of individual clients and paid out for works completed on their behalf.

ENABLE funds

Welsh Government funding was received for the delivery of adaptations in relation to ENABLE Support for Independent Living for the local authority of Swansea.

Hospital to Home pilot

Care and Repair Cymru provided funding from Welsh Government for the Hospital to Home pilot, as part of the Winter Pressure project.

Warm Homes fund (ICF)

Integrated Care capital funding from Welsh Government via the West Glamorgan Regional Partnership Board. The Project delivered heating and insulation improvements to older people in need of improved energy efficiency measures and also provided Casework advice in relation to fuel poverty.

Managing Better fund (ICF)

Integrated Care capital funding from Welsh Government via the West Glamorgan Regional Partnership Board. Home repairs and adaptions for clients with sensory loss.

Care & Repair Cymru - Critical Prevention fund

Care & Repair Cymru provided funding for a critical prevention caseworker,

Care & Repair Cymru - Hospital to a Healthier Home

Care & Repair Cymru provided funding for a casework to help vulnerable people return to their homes from hospital.

Page 34

continued...

CARE AND REPAIR WESTERN BAY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

WPD - Affordable Warmth

In partnership with Cardiff and the Vale Care and Repair funding from Western Power Distribution was accessed to assist the most vulnerable older people by signing clients up to the Priority Services Register. The project also provided a range of energy affordability/ fuel poverty support services to clients alongside home safety and security checks and access to local services.

Winter pressures capital fund

Integrated Care capital funding from Welsh Government via the West Glamorgan Regional Partnership Board. To provide quick housing adaptation and repair solutions to assist in hospital discharge and to enable independent living and improve well-being for older people with complex needs and long-term conditions (including dementia). The Project provided practical solutions in order to improve and make safe the home environment.

Primary Care Project Casework and Technical Project

Integrated Care Fund revenue funding received to provide a dedicated casework and technical support service to the GP clusters throughout Swansea and Neath Port Talbot, providing advice, assistance, referrals to relevant partner organisations and quick housing repair and adaptation solutions to enable independent living and improve well-being.

Independent Living fund (ICF)

Integrated Care Fund capital funding to provide quick housing adaptations to enable independent living and improve well-being.

Primary Care fund (ICF)

Integrated Care Fund capital funding for work with GP clusters throughout Neath Port Talbot and Swansea to provide a dedicated home improvement and adaptation resource for older people presenting at primary care locations.

Calon Y Cymoedd fund

Funding from Calon Y Cymoedd to fund a Casework and Technical Officer and a Welfare Benefits Officer.

COVID-19 Funding

Neath Port Talbot Council for Voluntary Services and Swansea Council for Voluntary Services funding to provide additional support during the Coronavirus pandemic.

WCVA Third Sector Recovery Fund

Wales Council for the Voluntary Sector funding for enhancing capacity in the trading arm.

Pension Credit Campaign

Citizens Advice Bureau funding for staff time in line with the Test and Learn programme provided by the Bureau.

22. CONTINGENT LIABILITIES

The group has been notified by the Pensions Trust of the estimated employer debt on withdrawal from the Social Housing Pension Scheme based on the financial position of the Scheme as at 30 September 2021. As at this date the Scheme Actuary estimated employer debt was £1,268,000. At the time of signing these accounts no further up to date information was available.

23. RELATED PARTY DISCLOSURES

The organisation has funding relationships with City & County of Swansea, Neath Port Talbot County Borough Council and Swansea Bay University Health Board who provided financial support on normal commercial terms either by way of grants or imputed services.

Members of the organisation's Board of Management are also senior executives of those respective organisations.

Page 35

continued...

CARE AND REPAIR WESTERN BAY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

24. PENSION COMMITMENTS

The group participates in the Social Housing Pension Scheme, a multi-employer scheme which provides benefits to some 500 non-associated employers.

A full actuarial valuation for the scheme was carried out with an effective date of 30 September 2017. This actuarial valuation showed assets of £4,553m, liabilities of £6,075m and a deficit of £1,522m. To eliminate this funding shortfall, the trustees and the participating employers have agreed that additional contributions will be paid, in combination from all employers. The key assumptions used in the valuation were:

Discount rate

Inflation (RPI)

Inflation (CPI)

Salary Growth

The split of assets is:
Absolute Return

Alternative Risk Premia
Cash
Corporate Bond Fund

Credit Relative Value
Currency hedging
Distressed Opportunities
Emerging Markets Debt

Global Equity

Infrastructure

Insurance-Linked Securities
Liability Driven Investment

Long Lease Property
Net Current Assets

Private Debt

Property

Risk Sharing
Secured Income

Liquid Credit

Opportunistic Liquid Credit

High Yield

Opportunistic Credit

Total assets

Fair value plan assets
Present value of scheme liabilities
Deficit in scheme		 2022
2021
2.79%
2.21%
3.49%
3.24%
3.15%
2.87%
4.15%
3.87%
2022
2021
£'000s
£'000s
65
81
53
5
55
-
108
86
54
(6)
46
-
58
42
47
59
310
233
115
97
38
35
450
371
42
29
4
9
41
35
44
30
53
53
60
61
-
17
54
37
14
44
6
40
1,615
1,460
2022
2021
£’000s
£’000s
1,615
1,460
1,806
1,883
(191)
(423)

Page 36

CARE AND REPAIR WESTERN BAY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022

24. PENSION COMMITMENTS - Continued

Amounts included within the Consolidated Statement of Financial Activities are:

Group
2022
2021
£
£
Experience on plan assets
-
423,000
Experience gains on the plan liabilities
Effects of changes in the assumptions
underlying the present value
-
10,316
-
433,316		 2022
£’000s
180
(162)
181
199		 2021
£’000s
128
15
(414)
(271)

The charity made contributions of £14,463 (2021: £13,591) to the pension plans of employees during the year, as well as deficit contributions of £42,422 (2021: £41,584). At the year end there were contributions of £7,404 (2021: £6,805) outstanding.

Page 37