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2023-03-31-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 2023

FOR

CARE AND REPAIR WESTERN BAY

CARE AND REPAIR WESTERN BAY

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

Page
Repor of the Trstees 1 to 10
Repor of te Independent Auditor 11 to 13
Consolldatd Sttement of Financial Activities 14
ConsolidatdBalanceSheet 15
Charity Balance Sheet 16
ConolidatedCashFlow Statement 17
Notes to the Cash Flow Statement 18
Notes to the Financial Statements 19to 36

CARE AND REPAIR WESTERN BAY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

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 2023. 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 weffbeing, 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 2023

During 2022 - 2023 the social enterprise completed works for Care and Repair Western Bay under the following projects:

Objects of Care & Repair Solutions

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

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, ii has opportunities to develop new services as a social enterprise with customers that are not traditional Care and Repair clients.

ACHIEVEMENTS AND ACTIVITIES Significant activities

Covid-19

The Coivd-19 pandemic recovery 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. Our Handyperson service continued to complete urgent and essential repairs and improvements linked to hospital discharge and critical prevention cases during all lockdown periods. Demand continues to be extremely high across all services and robust Health & Safety measures continue to be 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.

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CARE AND REPAIR WESTERN BAY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

ACHIEVEMENTS AND ACTIVITIES Significant activities Covld-19 continued

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 offalls. 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 22 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.

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 2022 - 2025 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.

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CARE AND REPAIR WESTERN BAY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

ACHIEVEMENTS AND ACTIVITIES Significant activities

Who used and benefited from our services: continued

Care and Repair Western Bay supports the housing needs of residents whose homes are in need of repair, Improvement or adaptation. VVhere 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 fitt ng 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.

Every year Care & Repair Cymru carry out a Performance Evaluation for each agency. Care and Repair Western Bay's 2022 - 2023 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 with demands on the service recorded at the highest ever, with the report highlighting that the Agency is a "pacesetter" in Wales.

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 2022 and March 2023 the Casework and Technical team visited 1,966 older people in housing need to complete a Healthy Homes Check and falls risk assessment. Casework support for welfare benefit claims obtained an additional income of £1,540,942 for 242 of our clients. The Casework Team also accessed £23,357 charitable and hardship funds to support 400 clients with the costs of 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. The Technical Service supported 195 older people to privately finance works via external contractor to the value of £608,302. More detail of the achievements of our core service can be found in the Care and Repair Western Bay Evaluation 2022- 2023.

Publlc 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.

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CARE AND REPAIR WESTERN BAY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

FINANCIAL REVIEW

The consolidated financial statements for the year ended 31 March 2023 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 Mure.

Income

The total income for the Group for the year was £2,804,559 (2022: £3,135,565) comprising:

Expenditure

The total expenditure for the Group for the year was £2,880,117 (2022: £2,818,588).

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

The Group has reported a deficit for the year after tax of£131,935 (2022: £509,342 surplus) after accounting for the re-measurement loss on defined benefit pension costs of £62,000 (2022: £199,000 gain).

Reserves

The Group's unrestricted reserves as at the 31 March 2023 stood at £1.150,367. Of these £246,726 (2022: £265,083) had been designated for Mure use and, as a result, free reserves at the 31 March 2023 were £903,641.

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.

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 was 5% during the period. 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 tenn liabilities.

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CARE AND REPAIR WESTERN BAY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

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 2023 - 2024 we aim to help 2,500 older people through our Casework and Technical service and a further 5,000 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 2023 - 2024 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.

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 Mure plans and objectives.

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CARE AND REPAIR WESTERN BAY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT Induction and training of new trustees continued

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.

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 Operations & Compliance 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

1 .1 Care and Repair Western Bay Articles of Association 1.2 Care and Repair Solutions Memorandum of Association 2. The Role of Board Trustees 2.1 Board Trustee Job Description 2.2 The Essential Trustee - Charity Commission Guidance 2.3 Guidance for Board Members: Decision Making -Charity Commission Guidance 2.4 Hallmarks of an Effective charity -Charity Commission Guidance 2.5 Conflict of Interest Guide - Charity Commission Guidance 2.6 Conflict of Interest Guide - ICSA Guidance 2.7 Trustee Expenses -Charity Commission Guidance 2.8 Care and Repair Group Conflict of Interest Policy 3. Standing Orders and Tenns of Reference 3.1 Standing Orders for meetings of Care and Repair Western Bay Board of Trustees 3.2 Terms of Reference for Care and Repair Western Bay Board of Trustees' Standing Committee 4. Membership Polley for Care and Repair Western Bay Trustees 5. Finance 5.1 Financial Regulations including Schedules of Delegated Authority 5.2 Care and Repair Western Bay Reserves Policy 5.3 Consolidated Financial Statements 2021 - 2022 6. Business Plans 6.1 Care and Repair Western Bay Business Plan 2022 - 2025 6.2 Care & Repair Solutions Business Plan 2022 - 2025 6.3 Business Continuity Plan 7 Health and Safety 7. 1 Health and Safety Policy and Plan 7.2 Health and Safety additional information 8 Care and Repair Western Bay and Care & Repair Services General lnfonnation 8. 1 Care and Repair Western Bay Board of Trustees 8.2 Care and Repair Solutions Directors 8.3 Care and Repair Western Bay Group Board Structure 8.4 Care and Repair Western Bay Organisational Chart 2023 8.5 Care and Repair Solutions Organisational Chart 2023 9 Care & Repair Cymru • Useful lnfonnatlon 10 Declaration of Interests Fonn

All Board Members are encouraged to attend training sessions.

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CARE AND REPAIR WESTERN BAY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT 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 11 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.

Risk Review

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

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

REFERENCE ANO ADMINISTRATIVE DETAILS

Registered Company number 10568307 (England and Wales)

Registered Charity number 1171877

Registered office Llys T awe Players Industrial Estate Clydach Swansea SAS 580

Trustees DW Tovey Chair J Hall Davies Vice Chair CR Jones Trading Arm Chair C Morgan resigned 23 September 2022 Trading Arm Vice Chair L A Whittaker PD Richards DP Harrison RI Davies D T Evans DWilliams 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 2023

REFERENCE AND ADMINISTRATIVE DETAILS Auditors

Bevan Buckland LLP Chartered Accountants and Statutory Auditors Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA79LA

Solicitors John Collins and Partners Copper Court Phoenix Way Enterprise Park Swansea SA79EH

Bankers Unity Trust Bank PLC Nine Brindley Place Birmingham B12HB

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.

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CARE AND REPAIR WESTERN BAY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

Approved by order of the board of trustees on it· 03 : and signed on its behalf by: ":I:

...... d�- . ..... . . .

E Tweed - Secretary

Page 10

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CARE AND REPAIR WESTERN BAY FOR THE YEAR ENDED 31 MARCH 2023

Opinion

We have audited the financial statements of Care and Repair Westem Bay (the 'parent company') and its subsidiary (the 'group'} for the year ended 31 March 2023 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 lnfonnatlon

The trustees are responsible for the other information. The other information comprises the information Included in the An ual 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 2023

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.

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:

Management override of controls

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CARE AND REPAIR WESTERN BAY FOR THE YEAR ENDED 31 MARCH 2023

Identifying and assessing potential risks related to irregularities continued

Audit response to risks identified

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.

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: ............................................ . i'?.. h { � t.. r

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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 2023

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Chartable actvites
Care & Repair
Investment income
3
other income
5
Totl
EXPENDITURE ON
Chartble activities
Care & Repair
7
Total Expenditure
Re-measurement gains/(losses) on defned
benefit pension
NET INCOME BEFORE TAXATION
Taxation
NET INCOME
Trnsfrs bet n funds
19
Net movement In funds
RECONCILIATION OF FUNDS
Total funds brught forrd
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
Resticted
fnds
fnds
£
£
489,135
806,341
1,486,321
3,910
18,852
1,318,238
1,486,321
1,393,796
1,486,321
1,393,796
1,486,321
(62,000)
(137,558)
5,623
(131,935)
(131,935)
1,282,302
1,150,367		 2023
Total
fnds
£
489,135
2,292,662
3,910
18,852
2,804,559
2,880,117
2,880,117
(62,000}
(137,558)
5,623
(131,935)
(131,935)
1,282,302
1,150,367		 2022
Total
fnds
396,770
2,725,002
416
13,37
3,135,565
2,818,588
2,818,588
199,000
515,977
(6,635)
509,342
509,342
772,960
1,2821302

The notes form part of these financial statement Page 14

CARE ANO REPAIR WESTERN BAY

CONSOLIDATED BALANCE SHEET 31 MARCH 2023

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
£
3,333
172,958
176,291
32,660
303,737
1,124,001
1,460,398
(268,994)
1,191,404
1,367,695
(217,328)
1,150,367
Restricted
funds
£
-
-		 2023
Total
fnds
£
3,333
172,958
176,291
32,660
303,737
1,124,001
1,460,398
(268,994)
1,191,404
1,367,695
(217,328)
1,150,367
1,150,367
1,150,367		 2022
Total
fnds
£
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

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 f\·o�·2and were signed on its behalf by:

----- Start of picture text -----
-
�
----- End of picture text -----

The notes form part of these financial statements Page 15

CARE AND REPAIR WESTERN BAY

CHARITY BALANCE SHEET 31 MARCH 2023

FIXED ASSETS
Tangible assets
CURRENT ASSETS
Debtors
Cash at bank
CREDITORS
Amounts falling due within one year
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
PROVISION FOR LIABILITIES
NET ASSETS
FUNDS
Unrestricted fnds
Restriced funds
TOTAL FUNDS
Notes
16
17
18
19		 Unrestricted
funds
£
124,294
247,547
1,075!539
1,323,086
(35,726)
932~~!~~360
1,101,654
{206,000)
895,654
Resticted
fnds
£
-		 2023
Total
fnds
£
124,294
247,547
1,075,539
1,323,086
{345,726)
932,360
1,101,654
(206,000)
895,65
895,654
895,654		 2023
Total
fnds
£
124,294
247,547
1,075,539
1,323,086
{345,726)
932,360
1,101,654
(206,000)
895,65
895,654
895,654		 2022
Total
fnds
£
18,570
127,099
1!5961691
1,723,790
{523,128}
1,200,662
1,219,232
(191,000)
1,028,232
1,028,232
1,028,232
895,654
895,654

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[l 1 ] ·0�· 2..4- and were signed on its behalf by:

� �

The notes form part of these financial statements Page 16

CARE AND REPAIR WESTERN BAY

CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2023

Notes
Cash fow from operating activities
Cash generated from operations
1
Net cash provided by operating activities
Cash fow from investing activities
Purchase of tangible fxed assets
Interest received
Net cash used in investing activities
Cash fow from financing activities
Loan repayments in year
Net cash used in fnancing activities
Change in cash and cash equivalents
in the reporing period
Cash and cash equivalent at the
beginning of the reporing period
Cash and cash equivalent at the end
of the reporing period

The notes form part of these financial statements Page 17

CARE AND REPAIR WESTERN BAY

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2023

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

2.
Net income for the reporing period (as per the Sttement of
Financial Activities)
Adjustments for:
Depreciation charges
(Proft)noss on disposal of fxed assets
Re-measurement gains/(losses) on defned beneft pension
Interest received
(lncrease)/decrease in stocks
(lncrease)/decrease in debtors
Increase in creditors
Net cash provided by operations
ANALYSIS OF CHANGES IN NET FUNDS
Net cash
Cash at bank
Total
At 1.4.22
£
1,808,696
1,808,696		 2023
£
(131,935)
59,516
9,377
(1,869)
(6,283)
(120,377)
{355,136)
{546,707)
Cash flow
£
(684,695)
�684,695)		 2022
£
509,342
35,552
355
(225,365)
(416)
(10,473)
(137,009)
386,996
558,982
At 31.3.23
£
1,124,001
1,124,001

The notes form part of these financial statements Page 18

CARE AND REPAIR WESTERN BAY

NOTES TO THE FINANCIAL ST A TEMENTS FOR THE YEAR ENDED 31 MARCH 2023

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

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The trustees have made this assessment based on reviewing financial budgets and forecasts for a period of 12 months from the date of the approval of these financial statements. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

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 19

CARE AND REPAIR WESTERN BAY

NOTES TO THE FINANCIAL STATEMENTS-continued FOR THE YEAR ENDED 31 MARCH 2023

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 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 20

CARE AND REPAIR WESTERN BAY

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2023

1, ACCOUNTING POLICIES - continued

Employee benefits

When employees have rendered service to the group, short-term employee bene[f] its 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.

2. DONATIONS AND LEGACIES

Client donations
Grants		 2023
£
3,543
485,592
489,135
2022
£
6,574
390,196
396,770

Page 21

CARE AND REPAIR WESTERN BAY

NOTES TO THE FINANCIAL ST A TEMENTS • continued FOR THE YEAR ENDED 31 MARCH 2023

Grants received, include in the above, are below:

Welsh Government
Neath Por Talbot County Borough Council
3.
INVESTMENT INCOME
Deposit Account interest
4.
INCOME FROM CHARITABLE ACTIVITIES
Grants
Clients contribution to work
Benevolent funding
Charitable trading income
Frm Car& rair Solutions
Grants received, included in the above, are as follows;
Welsh Government - RRAP Revenue Grant
Welsh Goverment - RRAP Capital Grant
Welsh Goverment - Winter Pressure
Cit & County of Swansea Housing Department
Swansea Bay Universit Health Board (Core)
Integrated Care Fund (ICF)
Integrated Care Fund (ICF) - Primary Care Caseworkers and
Technical Project
Health Board - Winter Pressure
Neath Por Talbot CBC
City & Council of Swansea - ENABLE
Care and Repair Cymru
WDP Afordable Warmth
Galon Y Cymoedd
Wales Council for Voluntary Action
Citiens Advise Bureau
Swansea Council - Respite for Unpaid Carers
Swansea Council for Voluntary Services
Health Board - Regional Preventon Funding
Swansea Bay University Healh Board - Carers Project
Swansea Bay University Healh Board - Supporing
Hospital admission and discharge
Age Cymru West Glamorgan - Dementia Partnership

Page22

CARE AND REPAIR WESTERN BAY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

5. OTHER INCOME

2023 2022 £ £ Other income 20,893 13,377

6. RESULTS OF PARENT CHARITABLE COMPANY

The income of the parent charitable company was £2,684,822 and net loss was £177,578

7. CHARITABLE ACTIVITIES COSTS

Care & Repair Direct
Costs
£
2,602,204		 Support
costs
Totals
£
£
277,913
2,880,117

8. DIRECT COSTS OF CHARITABLE ACTIVITIES

Staff costs
Direct purchasing and contractor costs
Other direct costs
Staff training costs
Travel and Subsistence
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
2023
£
1,444,767
772,765
126,700
12,988
15,534
84,717
9,385
17,277
7,790
3,078
17,228
(17,155)
212
34,536
11,436
87
260
1,467
3,274
55,858
2,602,204		 78,552
Total
2022
£
1,248,011
899, 471
89,037
5,228
14,651
11,330
7,825
6,645
22,141
14,127
149,060
7,259
33,735
11,901
1,362
2,458
33,004
2,640,965
4,686
482

Page 23

CARE AND REPAIR WESTERN BAY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

----- Start of picture text -----
9. SUPPORT COSTS
Salaries Depreciation/ Other Governance Total
Amortisation costs
£ £ £ £ £
Care & Repair 159,543 3,658 102,007 12,705 277,913
----- End of picture text -----

Governance costs included Pension scheme finance costs £Nil (2022: £Nil).

10. NET INCOME/(EXPENDITURE)

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

----- Start of picture text -----
2023 2022
£ £
Auditors' remuneration 10,560 9,200
Depreciatiori - owned assets 55,858 33,004
Amortisation of intangible fixed assets 3,658 2,548
Profit/{loss) on sale of tangible fixed assets 355
Expenses under operating leases 24,750 78,000
----- End of picture text -----

11. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.

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

----- Start of picture text -----
2023 2022
£ £
Wages and salaries 1,403,094 1,110,388
Social Security Costs 124,898 88,473
Other Pension costs 76,318 49,150
1,604,310 1,248,011
----- End of picture text -----

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

Employed staff 2023
57		 2022
54

Page 24

continued ...

CARE AND REPAIR WESTERN BAY

NOTES TO THE FINANCIAL STATEMENTS· continued FOR THE YEAR ENDED 31 MARCH 2023

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

During the year no terminations benefits were paid (2022: £Nil)

The total key management personnel remuneration benefits during the year were £202,840 (2022: £173,267).

13. TAXATION

Analysis of the tax (credlt)/charge The tax (credit)/credit for the year was as follows.

2023 2022 £ £ Deferred tax (5,623) 6,635 Tax

Page25

continued ...

CARE AND REPAIR WESTERN BAY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

14. COMPARATIVES FOR THE CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES STATEMENT OF FINANCIAL ACTIVITIES STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Total
fnds
£		 fnds
£		 fnds
INCOME AND ENDOWMENTS FROM
Donations and legacies 396,770 396,770
Charitable activities
Care & Repair 895,194 1,829,808 2,725,002
Investment income 416 416
Oter income 13,377 13,377
Total 1,305,757 1.829,808 3,135,565
EXPENDITURE ON
Charitable activities
Care & Repair 988,780 1,829,808 2,818,588
Total expenditure 988,780 1,829,808 2,818,588
Re-measurement gains/(losses) on defned
benefit pension 199,000 199,000
NET INCOME BEFORE TAXATION 515,977 515,977
Taxation (6,635) (6,635)
NET INCOME 509,342 509,342
Trnsfr bet n funds
Net movement in funds 509,342 509,342
RECONCILIATION OF FUNDS
Totl fnds brought forrd 772,960 772,960
TOTAL FUNDS CARRIED FORWARD 1,282,302 1,282,302

Page 26

continued ...

CARE AND REPAIR WESTERN BAY

NOTES TO THE FINANCIAL STATEMENTS • continued

FOR THE YEAR ENDED 31 MARCH 2023

15. INTANGIBLE FIXED ASSETS - Group

15. INTNGIBLE FIXED ASSETS - Group
Other
Intangible
Assets
£
COST
At 1 April 2022 14,635
Additions -
--
And 31 March 2023 14,635
AMORTISATION
At 1 April 2022 7,644
Charge foryear �
At 31 March 2023 11,302
NET BOOK VALUE
At 31 March 2023 �
At 31 March 2022 .

16. TANGIBLE FIXED ASSETS

Group
Improvements
Fixtures
to
and
propert
f ngs
£
£
COST
At 1 April 2022
103,255
15,390
Additions
56,688
2,336
Disposals
At 31 March 2023
159,943
17,726
DEPRECIATION
At 1 Aprl 2022
100,849
14,716
Charge fryear
7,028
573
Eliminated on disposal
A 31 March 2023
107,877
15.289
NET BOOK VALUE
At 31 March 2023
52,066
2,437
At 31 March 2022
2,406
674		 Compuer
Motor
Equipment
vehices
& tools
£
£
160,522
67,768
54,979
25,854
{151499)
200~~1~~002
93,622
94,244
48,166
35,193
13,064
{15,99)
1131938
611230
86,064
32,392
661278
19,602		 Toals
£
346,935
139,857
{15,499)
471,293
257,975
55,858
{15,499)
298,335
172,958
88,960

Pa[g] e 27

continued ...

CARE AND REPAIR WESTERN BAY

NOTES TO THE FINANCIAL STATEMENTS· continued FOR THE YEAR ENDED 31 MARCH 2023

Charit
Improvements
to
property
£
COST
At 1 April 2022
103,255
Additions
56,688
Disposals
At 31 March 2023
159,943
DEPRECIATION
At 1 April 2022
100,849
Charge fr year
7,028
Eliminated on disposal
At 31 March 2023
107,877
NET BOOK VALUE
At 31 March 2023
52,066
At 31 March 2022
2,406		 Fixtures
and
ftings
£
15,390
2,336
17,726
14,716
573
15,289
2,437
674		 Motor
vehicles
£
15,499
44,879
{15,499)
44,879
15,499
2,782
(151499)
2,782
42,097		 Computer
equipment
Totals
£
£
47,305
181,449
22,308
126,211
(15,499)
69,613
292,161
31,815
162,879
10,104
20,487
(15,499)
41,919
167,867
27,694
124,294
15,490
18,570

Page 28

continued ...

CARE AND REPAIR WESTERN BAY

NOTES TO THE FINANCIAL STATEMENTS· continued FOR THE YEAR ENDED 31 MARCH 2023

17. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Amounts owed by group underakings
Prepayments and accred income		 Group
2023
2022
£
84,591
£
226,822
76,915
98,769
303,737
183,360		 Charit
2023
2022
£
37,206
£
198,081
49,466
247,547
89,893
127,099		 Charit
2023
2022
£
37,206
£
198,081
49,466
247,547
89,893
127,099
127,099

18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade creditors
Amounts owed to group undertakings
Social securit and other taxes
VAT
Other creditors
Accruals and deferred income		 Group
2023
2022
£
£
184,223
173,252
(97)
23,522
9,713
18,826
28,931
50,988
46,224
357,544
268,994
624,131		 Char
2023
2022
£
£
95,227
111,366
200,192
111,604
(14)
10,737
9,267
7,649
41,054
281,772
345,726
523,128

19. PROVISION FOR LIABILITIES

PROVISION FOR LIABILITIES
Defned pension scheme provision
Deferred tax provision		 Group
2023
2022
£
191,000
16,951
£
206,000
11,328
217,328
207,951		 Chart
2023
2022
£
191,000
£
206,000
206,000
191,000
191,000

20. PROVISION FOR LIABILITIES

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

Within one year
Beteen one and fie years
More than fve years		 2023
£
24,750
99,000
99,000
222,750
2022
£
76,404
99,000
123,750
299,154

Page 29

CARE AND REPAIR WESTERN BAY

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2023

21. MOVEMENT IN FUNDS - CONSOLIDATED

Net
movement
At 1.4.22
In funds
£
£
Unrsticted funds
General fund
1,017,219
(103,578)
Designed fnd -Pension contngency fund
130,000
Designed fnd -Hardship fund
20,000
(28,357)
Designated fund -Technical harship
4,740
Designed fund -Accommodation resere
70,33
1,282,302
(131,935)
Restrcte funds
TOTAL FUNDS
1,282,302
1131,935)
Net movement In fnds, Included in the above are as fllows:
Incoming
rsources
£
Unrstrictd funds
General fnd
1,318,238
Restrcted funds
Rapid Response Adaptation Prgramme
304,412
Essential access
158,000
ENABLE (Swansea) Fund
455,35
Benevolent funding
4,700
Care & Repair Cymr - Hospital to home caseworker
40,614
Care & Repair Cymr - Critical Prvention fnd
41,657
War Homes fnd (ICF)
6,453
Prmar cre caseworker and technicl proec (ICF)
33,587
WPD -Afordable warmth fund
4,500
Giving Your Time Back
118,383
Supporing Hospital Discharge and Admissions
133,300
Age Cymr Dementia Parnership
47,361
Neath Por Talbot Slippage
138,000
1,486,321
TOTAL FUNDS
2,80,559		 Transfer
beteen
fnds
£
(10,000)
10,000
Resours
expended
£
(1,450,173)
(304,412)
(158,000)
(455,35)
(4,700)
(40,614)
(41,657)
(6,453)
(33,587)
(4,5)
(118,383)
(133,300)
(47,361)
(138,000)
(1,486,321)
(2,936,494)		 At
31.3.23
£
903,641
130,000
1,643
44,740
701343
1,150,367
1,150,367
Movement
in fnds
£
(131,935)
(131,935)

Page 30

CARE AND REPAIR WESTERN BAY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

21. MOVEMENT IN FUNDS- continued

Comparatives for movement in funds - CONSOLIDATED

Comparatives for movement in funds - CONS OLIDATE D
Net Transfers
movement
between		 At
At 1.4.21 in funds funds 31.3.22
£ £ £ £
Unrestricted funds
General fund		 421,643
595,576		 1,017,219
Designated fund - Tenant improvement fund 7,557 (7,557)
Designated funds - Pension contingency fund 130,000 130,000
Designated fund - Hardship fund 10,000
10,000		 20,000
Designated fund - Technical hardship
Designated fund - Accommodation reserve		 203,760
44,740
(133,41Z)		 44,740
70,343
Restricted funds 722,960 509,342 1,282,302
TOTAL FUNDS 722,960 509,342 1,282,302
Net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 1,305,757 (796,415) 509,342
Restricted funds
Rapid Response Adaptation Programme 201,500 (201,500)
Essential access 74,360 (74,360)
ENABLE (Swansea) Fund 379,500 (379,500)
Benevolent funding 400 (400)
Care & Repair Cymru - Hospital to home caseworker 12,000 (12,000)
Care & Repair Cymru - Hospital to Home
Care & Repair Cymru - Critical Prevention fund		 33,587
41,170		 (33,587)
(41,170)
Winter Pressure fund
NPTCVS Volunteer Services - Winter Pressures
Warm Homes fund (ICF)		 100,000
4,370
83,518		 (100,000)
(4,370)
(83,518)
Managing Better fund (ICF)
WPD - Affordable warmth fund (ICF)
Ory Home (ICF)		 83,518
83,518
83,518		 (83,518)
(83,518)
(83,518)
Independent Living fund (ICF) 83,518 (83,518)
Keep me at home (ICF) 83,518 (83,518)
Healthy Home Grant (ICF)
Primary Care project (ICF)
Primary care caseworker and technical project (ICF)
WPD - Affordable warmth fund		 83,518
83,518
88,277
10,500		 (83,518)
(83,518)
(88,277)
(10,500)
Calon Y Cymoedd 10,000 (10,000)
WCVA Third Sector Recovery Fund 100,000 (100,000)
Pension Credit Campaign
Neath Port Talbot Slippage		 6,000
100,000		 (6,000)
(100,000)
1,829,808 (1,829,808)
TOTAL FUNDS 3,135,565 !2,690,61Sl 509,342

Page 31

CARE AND REPAIR WESTERN BAY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

DESIGNATED FUNDS

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.

Technical hardship fund

A new fund to develop a charity based Handyperson Service through the Core Technical Officer Service in order to support clients with provision of full-cost works, primarily those works that it is difficult to engage an external contractor to complete.

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.

ENABLE (Swansea) fund

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

Benevolent funding

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

Care & Repair Cymru - Hospital to Home caseworker

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

Care & Repair Cymru - Critical Prevention fund

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

Wann 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.

Primary Care Project Casework and Technical Project (ICF)

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.

continued ...

Page 32

CARE AND REPAIR WESTERN BAY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

WPD • Affordable Wannth fund

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.

PRIOR YEAR RESTRICTED FUNDS Winter pressures 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.

NPTCVS Volunteer Services - Winter Pressures

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.

Independent Living fund (ICF)

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

Primary Care project (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.

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.

Page 33

continued ...

CARE AND REPAIR WESTERN BAY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

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 nom1al 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 34

continued ...

CARE AND REPAIR WESTERN BAY

NOTES TO THE FINANCIAL STATEMENTS· continued FOR THE YEAR ENDED 31 MARCH 2023

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:

2023 2022
Discount rate 4.84% 2.79%
Inflation (RPI)
Inflation (CPI)		 3.17%
2.79%		 3.49%
3.15%
Salary Growth 3.79% 4.15%
The split of assets is:
2023 2022
£'000s £'000s
Absolute Return 11 65
Alternative Risk Premia 2 53
Cash 7 5
Corporate Bond Fund 108
Credit Relative Value 39 54
Currency hedging
Distressed Opportunities		 2
31		 (6)
58
Emerging Markets Debt 5 47
Global Equity 19 310
Infrastructure 117 115
Insurance-Linked Securities 26 38
Liability Driven Investment
Long Lease Property		 471
31		 450
42
Net Current Assets 3 4
Private Debt 45 41
Property
Risk Sharing		 44
75		 44
53
Secured Income 47 60
Liquid Credit
Opportunistic Liquid Credit 44 54
High Yield
Opportunistic Credit		 4 14
6
Total assets 1,023 1,615
2023 2022
£'000s £'000s
Fair value plan assets 1,023 1,615
Present value of scheme liabilities
Deficit in scheme		 1,229
(206)		 1,806
(191)

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CARE AND REPAIR WESTERN BAY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

24. PENSION COMMITMENTS - Continued

Amounts included within the Consolidated Statement of Financial Activities are:

Experience on plan assets
Experience gains on the plan liabilities
Experience of changes in demographic assumptions
Efects of changes in the assumptions underlying the present value		 2023
£'000s
(663)
5
3
593
(622
2022
£'000s
180
(162)
181
199

The charity made contributions of £26,354 (2022: £14,463) to the pension plans of employees during the year, as well as deficit contributions of £53,279 (2022: £42,422). At the year end there were contributions of £9,022 (2022: £7,404) outstanding.

Page 36