REGISTERED COMPANY NUMBER: 10568307 (England and Walos) REGISTERED CHARITY NUMBER: 1171877 REPORT OF THE TRUSTEES AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR CARE AND REPAIR WESTERN BAY
CARE AND REPAIR WESTERN BAY CONTENTS OF THE FINANCIAL STATEMENT8 FOR THE YEAR ENDED 31 MARCH 2024 Pag• Report of thg Trustee8 1 10 10 Report of the Indepèndent Audit(>rs 11 to 13 CoTrsolldated Statement of Financlal Actlvllles 14 Consolldat¢d Bal•ncg Sheet 15 Charfty Balance Shoot 16 Consolldated Cash Flow Slatèment 17 Notss to the Cash Flow Statomont 18 N08 to the Flnanclal Ststements 19 to 34
CARE AND REPAIR WESTERN &4Y REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The trustees who are also dirgctors of the charity for the purposes of the Companies Act 2006, present their reportwith the financial slalgm8nl$ of thg¢harity forlho yeai ended 31 March 2024. The Iruslees have adopted the provisions of Accounting and Reporting by Charities.. Ststemenl of Recommended Practice applKable to charities preparing their aecoLFnts in acCoanCe with the Financial Reporting Standard applicabk in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191- OWECTIVES AND ACTIVITIES Objectlvgs and aims The organisalion was fomed for the benefrt of the communty. The objects of the Charlty a. to lIeVe the needs of people living in the areas of Swan3ea and Neath Port Talbot who are disadvantaged by feason of age. ill-heatth or disabilty, by the provision of support, as$islanee. facilities, amenitie8 and service8 to such people in respèct of their housing and Surrounding environment. In gNing effect to the above obiectNe$. the Board uses its best endeavours lo ensure that monies raised are to support the IK)using-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 publ benefrt and confim that all of OUT actNities are undertaken to further our charitable purposes for the public benefit. Our main objective is to support older poople living in Neath Port Talbot and Swansea lo enabk them to live in safe. wami, secure and appropriate hcffles for the¢r needs and to facilitate independent living. ca and Repairprovide8 a Core Casework home visiting serviGe through the charity forolder peopleto assess individual client housing need and accepts referrals from othgr Third Sector agencies, Heamh, Sock81 Services, Housing and indNidual elients or their friends, family or carers. A wide range of Handyperson services are delivered through th& Agency's social enterprise. ca and Repair SOlutS, to meet these objectives. Care and Repair is a unique seNice appr08ch, which combines social care related indwidual assessments and values linked to dignity, care and respect and the technical expgrtise required for managing building work. It is a ¢ltvzenntred and prOblem-d service that is based on a visf( to the older petson's home. As such it relates a human assessment to a leehnical assessment of the lived environment, to provmde a personalised package of home improvement. The objective is lo support the older person's choice to remain living in their own home and in their own communty for as loThJ as they are able and ch08e to do so. The service method is not 'off the She but 'indNidually tsilored., using stslutory assistsnce where relevant. but also a range of privatety arranged, localty brokered and where possible in-house eosl effective services to support infomied choices. The service is holist in that it will refer on lo other statutory and Ihird sector providers to ensure comprehonsive package of $olLrtitin$ are secured. CARE & REPAIR SOLLMONS Wheneverappropriate, practal Handyperson Support has been gNen through the Agency's trading arm, Care & Repair Solutions. This social enterprise was developed. folknving the Board of Trustees decision to fLrture- proof practical services and develop new funding streams for ohjer people's services. The Irading arm is separatety constituted and directed by its own Board of Management and runs as a ¢91 enterprise. All profits made by Care and Repair Solutions are gtfted back to the charity to ¥upport the charity in fulfilling its obJ'ectNes and purpose. Care and Repair Solutions is VAT Tegislered. The s[al enterprise gNes our client group access to safe, reliable knv-cost solulions to their housing problems.11 pn)vides supportto help peopk8 conylete Small and medium scale adaptations and repairs lo thoir property. The service supports older people to accelerate discharge from hospital to a safe and comfortab home, prevent inappropriate hospi181 admission, promote physical and mentsl hearth and wellbeing, reduce reliance on statutory health and s181 Ca seNices and promote independent living. We have specialist Gas Safe and Electri1 seNices in house and the 8ccial enterprise employs 25 staff across the HarKlypeTson and support services. Page 1
CARE ANO REPAIR WESTERN BAY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 During 2023- 2024 the social enterprise wmpletedwoth8 forcare and Repair Weslgm Bay underthefolbwing projecls." Rapld Response Adaptations Programme (RRAPI - funded by Welsh Assembly Govemmenl and Swansea Bay Unrversity Heatth Board. Minl Adaptatlon8 Grant - furKlod by City & County of Swanse# Housing Renewal & AdapL81ion Section. ENABLE ISwansea)- independerrt Ip4ing grant funded by Welsh Govemment Handy0 General Workg - This has provJed additional access to Handyperson services for clients who have the rescjjrces to fund work$ but prefer Care ond ReiT staff based c trnsOrth1n9ss and reputation. Hardship Fund . This fund supports the costs of some full<ost works, primarity General Works. Essentlal A¢¢95s Grant- a minoradaplalions grant fvnded by NPT County Borough Council Housing and Social Services Departments. Community Saf6ty partnewshlp - 8 minor securty grant funded by NPT County Borough Council Crime Prevention Department. Key8afe Project- a keysaf& fitting seMce- fvnded by NPT County Borough Council Sc¢k81 Services Department. Asslstlve Technology- a Teare service funded by NPT County Borough Council Social Services Department (ended at 31st January 2024 foll¢)wing the decision by NPTCBC to provide the seNK8 in house) Objects of Care & Repair Solutions The company's objects shall include carying on the business of.. 1. Prov1ng independent, practical thic&, advocacy and support services. 2. Facilitating property adaptations. repairs, improvements, upgrad&s and renovatnS. 3. PrOtIng go propety managemenL 4. Providing propety mainlgnance advice and training. S. Enhancing the qualty of life of corrmunity resKlenls and Supporti community regoneration. Assets of Care & Repalr Solutions Care & Repair Solutions was established lo assist the solg membgr {Care and Repaif Westem Bay) lo delivgl its charitsble objects or raise funds for Ihe sole member, in such manner as may from time to time be deletmined by the Board of Diredors. The income and propety of the company shall be applied in accordance with the objects and powers of the company and any surplus shall be distributeil as dgcided by Care and Repair Weslern Bay, as the sole member. This social enterprise complemènts the Casework Services of Care and Repair Westem Bay by delivering Handyperson works funded by our proiects. In addition. il has opportunrties to develop new semces as 8 social enteriSe with Customers that aro not Iradrtional Care and Repair clients. Howevei, The Board ol Management of Care and Repair Solutions and the Board ofTrustees ofcare & Repair Westem Bay agreed lo make the trading am a domiant company from 1 yi April 2024 and lo transfer all assets and trade to the parent company. All operation5 in Care & Repair Solutions will cease at 1., April 2024 and all activities and staffing will transfer lo the Charty. Care & Repair SolLrtions will remain open to settle 011 obligations and liabilitva8 as they fall due with the long lem7 plan to commence tho domanw prwess as li naturalty progresses. Page 2
CARE AND REPAIR WESTERN BAY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 ACHIEVEMEpifs AND ACTIVITIES Significant actlvltles Covi&19 The Coivd-19 pandemic recovery has had a significant impxt on demnd for our ¥ervices as traditionalty our services have been based on a home vistt assessment by OUT Casework l Technical serVe and completion of Handyperson works. Our Handyperson Servi continued lo Compte urgent and essential repairs and improvements linked to hospital discharge and critical prevention cases during all lockdtrHn peit)ds. Demand continues lo be extremely high across all services and robust Health & Safety measures wnlinug to be implemented alongside extensive Risk A$5essmenls and the use of appiopriate PPE for exh homo visit. We have developed an extensive and comprehensive Tange of Heohh & Safety processes and procedures that heve been in operation since the initial lockdown perioJ when we were designated wf(h keyworkèr slalus by Welsh Gov&mment becausè of the vltal seNices we provide to older peopk in the community. These policies and procedures prolectvj both clients and staff throughout the high risk inilkgl peritxl and the Imnter periods where spread of the wrus was al its peak and whgn the unfortunate number of deaths as a resuk of the virus was high. These remain robust and are strKt standards and guidelines we continue to work to. We have provKled advice and practical solutions to older people living in Swansea and Nealh Port Talbot in respect of home repairs and adaptations lo maintain independence and well being al home and reduce the risk of falls. Throughout the year demand for our services and referrals made have continued to increase and we are cUrrenY experiencin9 the busiest a1 most sustsined period of demand for our services in our 22 year history. Who used and ben8fftod from our 8eNlces: Our objects limit the services we can provide to older people living in Neath Port Talbot and Swansea. 30% of the lolal population of the aiea1381,2CKI pgr¥ons1 is aged over 60 8nd Wales has the highest level of unfft using throughout the UK. Older people are most likety to INe in poor cOnditn9. In Wales, 23tsA of ellIngS have repair ¢osl$ over £1,000 and 4Qh have Costs in excess of£5.000. terraced hoLTrses stsnd out as most likety lo be in poor ndItiOn. The tende lo live in poor condrtion$ increases with age, particulady after 80 and many Me$ contain potential risks to heahh and wellbeing of okler people, partieularty risks from excessive cokl, d8mp or f811s. The needs of older people can be ¥ard and CoMpX and we treat each client indwidually. offering them 8 bespc*e and holistic Casework 8eMce arKJ He8hY Homes Assessm&nt. The populat needs assessment ¢¢)mpleted by the Weslem Bay Regional Partnership Board highlKJhts the following key points for older people INing in Swansea and Neath Port Talbot.. 1 in 5 over 75s will suffer from sight loss and 1 in 6 will 05so have hearing loss. A high proportion of older people will suffer from chronic med1 conditions, 48% will be living with dementia and 1 in 3 will sufferfrom falls related to ill healih. Exeess winter deaths are highest amng$t older petsple and this can lead lo increased admission rate5. The numkr of okler people receiving sccial care support is higher aeross the region than the national average which will impact signfficantly on delayed transfers of Gare. Poor home environments will delay hospital di$¢harge because of unsafe or unsuitable conditions. Older Peop are more likeiy to be ecorbomi¢ally dependent and with 73,286 older owner occupièrs and private rented lenanl gcross the region the houslng stock of older Feople more likew to bo in a state of dksrepair and be unsuitable for their needs. The majority of older people that we work with inshst that they wish lo remain In thelr LAvn homes and remain living independenlty for as long as they are able. Our services help okjer people addres5 housing issues and meet their other needs in orderto tscilitate irKlependent INing. Thi5 help$ people'slay puf al h¢Jne and in their communities. As an independent non-statutory not-for-profrt Home Improvement Agency Care al Repair Westem Bay provides practical support, infomi81ion and 1VoCa¢Y for otder and disabled people and carers living within the Cty & County of Swansea and the County Borough of Ngalh Port Talbot. The organisatiDn is Close monitored and supported by Care & Repair Cymru on behaw of Welsh Govemment. Pagg 3
CARE AND REPAIR WESTERN BAY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 ACHIEVEMENTS AND ACTivmES Slgnlficant actlvltles Who used and bgneffted from our services.. contlnugd The Agency's Strategic Business P18n 2023 - 2026 continues to reflect the organisatron's role in supporting the ststulory sector's objectives lo promote health, $ocial Care and wellbeing of older and disabled people and their caors. Welsh Govemmenl continues to fund the Support provided by Care and Repair Wes19rn Bay's core casewcrfk and technical semces. alongsrde sever81 funding routes from llxal and national funding partners. Care and Rgpair Western Bay works in close partnership with statutory sector selv Pfoviders including Neath Port Talbot County Borough Council's Social Services and Housing Department, Cty & County of Swansea Direcaoraes of Sock81 SoJvices & Housing and Swansea Bay Universty Health Board., all are represented on the Care and Repair Westem 8ay Board ofTrustees Care and Repair Western Bay supports Ihg housing ne&Js of residents whose homes are in need of repalr, improvement or adaplalion. Mere necessary, specialist support is provided by visiting staff that, in the first instance, complete a Hearthy Home Check to help idenlrfy issues, access funding andlor provide advice and infomiation. In addition, Care and R&pair Weslem Bay has developed a range of projects that prowde prnctiGal solutions,. for example, organising the supply and ring of minor adaptations and the completion of small repairs. The combination of our staff support and sejvice options as wo11 as our clients. kn¢jWdge that we will avaYS be a safe ¢)ption for their future housing problems aims lo ensure that they remain comfortable, independent, safe and secure in their communities for as long as possible. Every year Care & Repair Cymnj Cary out a Perfomiance Evaluation for each agenry. Care and Repair Weslem Bay's 2022 - 2023 Perfomance Evaluation refiects that the Agency has met all its perfomian¢e baselines and qualty standards lo a high level. These are notable achievements in a year with demands on the seNice recorded at the highest ever, with the rewrt highlwhling that the Agency continues to be a "pacesetterf in Wales. All eligib 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 solut)n for Tr51 ofour clients, needs. The standard home visit assessment includes the Caseworker completing.. A Heamhy Homes Check of propety condrtron and an environmental risk assessment in and around the home lo identify pol8ntial hazards. A Falls RT8k Assessment (FRAT) using a standard assessment framthvork A Trusted Assessor Assessment that would idenlfy the need for small scale aids and adaptations. A financial 88sessmert that will ensure full weware benefit maximisation and an eligibility check for a range of stalulory grants and charitable funding. Each client has a wetfare benefts check with appropriate applications completed when identrf*d. Clients arn referred to other statutory and third sectcx organi8ations when other help 15 needed. Betsveen April 2023 and March 2024 the Casework and Technical team vtsited 2,017 older people in housing need to complelg a He0hY Homes Check and falb risk assessrnent. Casework support for WeOre benefit Claims obtsined an addf(ional income of £2,903,422 for 405 of our Clients. The Casework Team also &ce$sed £22,500 charitsble and hardship funds lo support 196 clients with the costs ofworks. Visiting Casework and Technical staff aro qualrfied trusted assessors and NEA Fuel Povety Assessors. We corrtinue to increase our technical support for ¢InIS who wish to privalety fvnd their work. The Technical Service supported 105 older people lo privately finance works via external contractorto the value of £274.860. More detail of th& achievements of our core seMGe can be found in the Carè and Repair Weslem Bay Evaluation 2023- 2024. Page 4
CARE AND REPAIR WESTERN BAY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 ACHIEVEMENTS AND ACTIVITIES Public bonefftt The trustees ol Care arKI Repair Westem Bay have had regard to the guidance issued by the Charity Commission on public benefit and confim that 811 of our activities are undertaken lo further our charitable purposes for the public benefrt. Our main objective is lo support older people living in Nealh Port Talbot and Swansea to enab them to live in safe, wami, secure and appropriate homes for their needs and to facililate independent living. We provide a wide range of home visiting Casework ser¥e$ through the charity and a wide rarYJe of Handyperson serviGe$ through our social enterprise, Carg and Repair Solutions. to meet these objethes. Volunteers Volunteers working a5 membets of the Bc4qrd of Trustees of the organisalion form a signrficant contribution to Care and Repair Wtern Bay and Care & Repair Solutions. There are other volunteers. Board Members spend over 200 hour5 a year supporting the organisation. FINANCIAL REVIEW The consolidated financial Ststements for the year ended 31 March 2024 summarises Care and Repair Westem Bay's actNfcie8 together wrth those of the trading ami, Care & Repair Solutions Limrted. Care and Repair Western Bay's Board of Trustees is satisfied with the perfomiance of Care and Repair Western Bay and Care & Repair Solutions for the year, and ¢on¥iders the stste of affairs to be sats'sf8Ctory, and trj remain salisfxlory for the foreseeable future. Income The total Income for the GroLtp for thg year wa5 £3,648.108 12023. £2,804,559) c¢)mprising.' Grants and donations £2,350,975 {2023'. £2,130.0571 Trading income £1,094,86012023.. £651,740> Other operating income £18,086 {2023.. £18,852) Bank interest receivable £4,38712023: £1,869} Expenditure The total expenditure for the Group for the yearwas £3,634,40312023.' £2,880.1171. Expenditu remains under constant review. as the organisation conlinues to make every effort lo control its administratn costs. The Group has rgportod a deficit for the year afier tax of £224.278 (2023.. £131,935) after accounting for the re•measuremenl k)ss on definod benefrt pension w8ts of £66.00012023: £62,000). ReseNes The Group's unrestricted reserves as at the 31 March 2024 stood at £926.089. Of thgse £246.726 12023: £246,726) had been desNJnated for future use and, as a resuli, free reseNe8 at the 31 March 2024 were £679.363. Reser4es pollcy Care and Repair Western Bay's Board of Trustees hag considered the reservgs F(Jlicywith the aim offjnsuriThJ that the Group's future endr(Ure can be mel, gNen certain assUmptic$ mado about future incom8 streams. The objectives of the reserves polw have been sel as foll¢)WS". To *cnI for the level of reseNes required for future funding in the context of budgel selling and fijnd raising- To account for reserves in an appropriate manner that will satisfy regulat and contribLrtory fun¢Jers. To ensure that Care & Repair Westem Bay has 8Lrficienl reserves to cover any contingent statutory costs that would arlse cfi a winding down of the swety's operations. Penslon deficlt Pension deficits have been ccfisidered by the Board of Trustees and we have worked Icwher lo reduce employer contribution costs. The employer contribtrtion for the Defined Contribution Scheme was during the pericxy. Staff are legally oblvJed to contribute 8 minimum of 5Qkn rfthey are a MeMr ofthe pension scheme. The Board is aware of its responsibilities and have tsken steps to reduce current cost5 whilst monrtoring long lem) liabilities. Page 5
CARE AND REPAIR WESTERN BAY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 IIARCH 2024 FUTURE PLANS We plan lo tInUe delNering our Casework, Technical Serviee and in houso Handyperson services for a8 long a8 pr&ticabk, subject lo sisf8ctory funding aangeMentS and ongoing sustainability. During 2024 - 2025 we aim to help 2,5 older people through cr Casvork and Technical servrce and a further 5,OCw) people through our practical Services. INe aim to diversify our funding arrangements as much as possible by sourcing attemalives to tradition81 grant funders and to develop th& range of works completed within the practical Serv6. All of our aclrvities remain fccused on helping and supporting older people lo repair. maintain and adapt Ihoir homes so that they arg able to live in safe, secure, wami and eomfortabl@ hc¥nes appropriate to Ihgir needs and that maximise independence and well-being. During 2024- 2025 Care and Repair Westem Bay's Bwd of Trustees must focus on: Consolidating activities through remewing the slrueture arKI purpose of the cffganisallon Continuing to publicise and promote awareness of Care & Repair Continuing lo support all staff teams through flexible hybrid working arrangements Maintaining good staff structures that provide mutual support and gUanCe for all staff Working in partnership with her Third Sector organi&ions to maximise revenue funding cyportunitles and service development Working together lo ensure the best fvture for our organisation Tcgether we will continue lo support our funding partners by provKling accountsbility. velue for money and excellent seThice delNgry 88 exemplar Care & Repair for Cty & County of Swansea, the County Borough of Neath and Port Talbol and Swansea Bay Universrty Heafth Board. STRUCTURE. GOVERNANCE AND MANAGEMENT Govemin9 document Care and Repair Westem B8y was IOrporated on 17 January 2017 following the merger of Care and Repair Neath Port Talbot and Swanse8 Care and Repair. The company was established under a rnemorandum of association 8nd is govemed under its Articles of Assoeialion. These Oline the powers and objects of the charity and prode that in the event of the compony being wound up the liability of it$ members is limited to a sum of£1. Reerultment and appolntment of new trustoes All Iruslees give their lime voluntarily and recewe no bgneffts from the charity. There were 9 subscribers lo the Memorandum of association when the company was established. These original subscribers and Iru$lees were.. Sara Forster, David Tovey, Linda Whittaker. Christopher Jones, Johanna Davies. Eifian Davie5, Colin Morgan, John Rogers and Robert Davie$. Under the requirements of the Articles of Association the ITUStees have control of the charity and its propety arbd fvnds. Every trustee after appointment or reappointrnent must sign 8 declaration of WTllingness to act as a eharity trustee of the charity before he or sh8 may vote al any meeting of the trustees. Apart from the firsl trustees every Iruslee must be appointed for a tem of three years by a resolution passed at a properfy conveneii meeting of the trustees. In seting individuals forappoinlment a5 tru8tees, the trustees must have regard to the skills, knowledge and experience needed for the effecttve administratan of the charty. All trustees are appointed by vote by thg Board of Trustees. Inductlon and tr&lnlng of new trusts9$ Potential trustees are invited to observe al meetings of the Injstees. New trustees are Invited lo meet with Ihe Chief Officer and visit the offices lo familiarise themsel with the charity and the Context within vthich 11 operates. A Trustee Induction pack is provided which covers.. cbligatlns of Iruslees. confliet of interest, the operational and financial framvork of the charity, the aims, objectives and acltvrc of the Gharity. perfomiance and future plans and objfclives. Page 6
CARE AND REPAIR WESTERN BAY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT A copy of the charity's ArtleS of AssocialKJn and Charty ccmIssion guidance and infom)ation is prowded to new tmslees and updated for current trustees when necessary. Declslon maklng The Board of TNstees must meet al l&ast quarterty and are responsible for the strategic direct and policy making of the charity. A skills matrix of trustees ha5 been completed and the truste8s are from 8 variety of backgrounds relevant to the history, work and environment of the charty. The trustees are responsible for ensuring that the charty is carying out its purposes for the publK benefrt as well as ensuring perfomiance and financi81 accountabilty. fomulatlng policy and gaining forestrjhl. strategic thinkiThJ and supervising management. Day to day Tesponsibilily for the charity rests with the Chief and in turn the Operation5 & Compliance anager. To facilitate effective opeialions the management team has delegated authority, as approved by the trustegs, for Operat81 matters including finan and perfomiance Telated activrty. Employees of the charity attending the Board of Trustees meetings do not have any votin9 rights. New Members arn glven an Inductlon pack contalnlng: 1. Governlng Documents 1.1 Care and Repair Westem Bay Articles of As3oGralion 2. The Role of Board Trustees 2.1 Board Trustee Job Description 2.2 The Essential Trustee- CharTty Commission Guidance 2.3 Guidan for Board Members.. Decision Making -ChaTty Commission Guidance 2.4 Hallmarts of gn Effective charity-charity Commission Guidance 2.5 Confl1 of Interest Guide-charity Commission Guidance 2.6 confi1 of Interest Guide -ICSA Guidance 2.7 Trustee Expenses £harty Commission Guidance 2.8 Care and Repair Group Confflicl of Interest Policy 3. Standlng Orders and Ternis 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. M•mbership Policy for Care and Repalr Westem Bay Trustees S. Finance 5.1 FinanrAal Regulations including Schedules of Delegate(l Authorty 5.2 Core and Repair Western Bay Resetves Policy 5.3 Consojidaled Financial Statements 2022- 2023 6. Business Plans 6.1 Care and Repair Western Bay Business Plon 2023- 2026 6.2 Business ContinLtity Plan 7 Heahh and Safety 7.1 Health and Safety Policy and Pk8n 7.2 Health and Safety addrtn8l informotb)n 8 Care and Repalr Westorn Bay Genernl Inforniation 8.1 Care and Repair Western Bay Board of Trustees 8.2 C8re and Repair Western Bay Organisalional Staff Chart 2024 g Care & Repalr Cymru- Useful Infomiatlon 10 Declaration of Intetssts Fomi All Board Members are encouraged lo attend training sessions Page 7
CARE AND REPAIR WESTERN BAY REPORT OF THE TRUSTEES FOR THE YEAR ENOED 31 MARCH 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Organlsatlonal stmcture The affairs of the organisalron are directod by the Boar(J of Tnjstees who trEet on a regular basis. The Board Shall consist of five members or such greater number not exeeeding e1Ve. Thg Board currently consists of 12 trustees meeting quarterfy to discuss Care and Repair Westem Bay. rewew the financial position, assess strategy and perf0MnCe, and all her charity matters whKh require the decis ofthe Board in accordance with the Constttulion. Risk r•vloW The Board ofTrustees ha8 8 risk management strategy 1¢h comprises of.. A quarterty review of the risks the organisation may face Th8 establishmènt of systems and procedures to mitigate those risks idgntified in the review, and The iMpMentation of procedures de51gn&J to minimise any potential impact on the organisation should those risks materialise CUent'hlgh rBk' examples are the bn*lerm effects of Covid-19 recovery on Agency funding, seNrces and sustainability or the Pension DefKit liability. Major risks are reviewed al Board level and systems and procedures are estsblished to manag? those risk$. REFERENCE AND ADMINISTRA TIVE DETAIL8 Reglstered Company number 10568307 {England and Wales} Reglstsred Charlty number 1171877 Reglstered offlce Llys Tawe Players Industrial Estate Ctydach Swansea SA6 5BQ Trustees D W Tovoy J Hall Davies C R Jones L A Whrttaker P D Richards D P Harrison R l Davies D T Evans D Willk4ms Resrgned 08 February 2024 B Hinchey S Learnnth Finance Sub Committee Chair 8 slmmnds-cen Appointed 26 March 2024 N Bennett Appointed 26 March 2024 senior Managemènt Toam E Tweed Chief oir S George Operations & Complkqnce Manager Chair Wice Chair Trading Am Chair Company Secrotary E Tweed Page 8
CARE AND REPAIR WESTERN BAY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 REFERENCE AND ADMINISTRATIVE DETAILS Audlto Bevan Buckland LLP Chartered Aceountants and Statutory Auditors Ground Floor Cardigan House cast Court Swansea Enterprise Park Swansea SA7 9LA Sollcltors John Collins and P8rtnerB Copper Court Phoenix Way Enterprise Park Swansea SA7 9EH Bankera Unty Trust Bank PLC Nin& Brindw Place Bimiingham B12HB STATEMENT OF TRUSTEES. RESPONSIBIUTIES The trustees {who aTe also the direttors of Care and Repair INestern Bay for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance wf(h applirable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practe) including Financkol Reporting Stsndard 102'The Financial Reportlng Standard applicable in the UK and RepublK of Ireland" Company law requires the trustees to prepare financial statemgnts for each financral year which give a true and fair view of the state of affairs of the eharitsbte company and of the incoming resources and applicion of resources, including the income and expenditure, of the charitable company for that 11¢Xl, In preparing Ih05e financial statements, the tru$te8s are required to selecl suitable accounting policies and then apply them nSistentty,. observe the methods and princip in the Charity SORP., make judgements and eslimales that are reasonable and prudent., prepare the financial statements on the going concern basis unless it is inappropriale to presume that the charitable ¢panY will continue in busine5S. The trustees are respons)le for keeping proper xcounting records whh disclose with reasonable accuracy at any time the financial posf(ion of the charrtable company and to enable them lo ensure that the financial statements Comp with the Companies Act 2006. They are also responsible for safeguarding the assets of the charilable company and hence for taking reasonable steps for the prevention and detection of fraud and clher irrggularilw. In so far as the trustees are aware.. there Is no relevant aLKlit information of which the charitable wryany's auditors are unaw8re: and the trustees have taken all steps that they ought to havg tsken lo make themsefves aware of any relevant audit information and to establish Ihat the auditors are aware of that infomatKJn. Page 9
CARE AND REPAIR WESTERN BAY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 RCH 2024 AUDITORS The auditors, Bevan Buckland LLP, will be prop¢xed for re•appointment at the forthcoming Annual General Meets'ng. Approved by order of the board of twstees on 06.11.24 arKI signed on Ils behalf by.. E Tweed. Secretary Pagg 10
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CARE AND REPAIR VWESTERN BAY FOR THE YEAR ENDED 31 MARCH 2024 Oplnlon We have audiied the financial stalements of Care and Rgpair We¥tem Bay {the 'parent compan) and its subsidiary Ilhe 'group'l for the year ended 31 March 2024 which Mprise the Consolidated Statement ol Financial ActNilies, the Consolidated Balanee Sheet. Charity Balance Sheet, the Consolidated Cash Flow Statement and notes to the financkql statements, induding a summary of slunrfanI accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and Unrted Kingdom Accounting Standards (Uniied Kingdom Generally Accepled Accounting Practice), including Finan¢ial Reporting Standard 102 The Financial Rwrting Standard applicable in the UK and Republic of Ireland,. In our opinion the financial statements.. give a true and fairvEw ofthe stale ofthe group's affairs as at 31 March 2024 and of its incAlIng resoL5r and application of resources, including ils income and expendf(ure, for the year then ended.. have been properly prepared in accordance with United Kingdom Generalty Accepted Accounting Practice, in¢luding Financial Rewting Standard 102 The Financial Reporting StalaTI1 applicable in the UK and Republic of Ireland,; and have been prepared in aeeordanee with the requirements of the Ccvnpanies Ad 2006. 8a818 for oplnlon We conducted OLtr audit in accordance with Intemational Standards on Auditing IUKI {ISAs {UK}l and applicable law. Our responsibilities under those standards are further described in the Audrtots, responsibilities for the audit of the financL41 statements section of our report. We are independent of the charitable company in accordance with the ethical requirerrEnls that are relevant lo our audit of the financkql statements in the UK, including the FRC'S Ethical Standard, and we have fulIked our other ethical responsibilrties in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis lor our opinK>n. Conclusions relating to gorng concem In 8uditing the financial st8lemenls, we have con¢ludgJ that the trustees. use of the going concem basis of accounting in the preparaticn of the financial statemgnts 15 appropriats. Based on Ihg WOTk we have perfomd, we have not identified any material uncertainties relating lo events or cond¢tions that, individually or eolleetThiety, may cast significant doubt on the charitable company's abilrty te eonlinue as a going concem for a period of al least twelve months from when the financral slalements arè aulhoriw4 for issue. OLtr responsibilities and Ihe responsibilities of the trust8e5 With respect to going concem are descrited in the relevant sedions of this report. Other Infom)atlon The Iiustees are responslble for the other information. The other infom)atiCfb cclnprises the information included in the Annual Report, other than the financial $temenls and our Report ofthe IndependentAudrtor8 thereon. Our opinion on the financial slalements does not cover the other information and. except to the extent otherwise explKitty slated in Our report, we do not expre55 any fomi of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibilty is to fead the other infomiation and, in doing so, consider whether the other infonration is materially inconsistent with the financkql ststements or our knowledge obtained in the audi( or otherwise appears to be materialty misstated. If we identfy such material inconsistencies or apparent material misslatemenls, we are required to determing whether this gNes rlse to a material misslalemenl in thg financial slalements Ihemsefves. If, baseil on th8 work we have perfomied, we conclude that thgre 1$ a material misstatement of this other infomiation, we are required to rep)rt that fact. We have nothing to report in this regard. Oplnions on other matters prescrlbed by the CompanbeF Act 2006 In our opinion. based on the work undertaken in the course of the audrt= the infomiation given in the Report of the Trustees for the financial year for which the finarKkql statements are prepafed is consistent with the fin8ncial stslement5', and the Report of the Trustee8 has been prepared in &cordance wrth applicab legal requirements. Page11
REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CARE AND REPAIR WESTERN BAY FOR THE YEAR ENDED 31 PIARCH 2024 Mattets on wfiiGh we are requlred to report by ¢9P110n In the luhl of the knowledge and understanding of the Charitab eompany and its environment obtained in the course of the audit. we have not identified rrerIal misstatements in the Report of the Trusleos. We have nothing to report in respect of the following matters where the Companies Act 20C6 requires us 10 rgport lo you if, in our opinion-. adequate accounting records have not bgen kept retums thquate for our audit have not been receNed from branches not visfted by us,. or the financkgl statements are not in agreerrEnt with the accounting rgcords and lUmS.. or certain disclosures of Iruslegs, remunerion specified by law are not made,- or we have not received all the information and explanations we require for our audit.. or thg Ifuslees were not enlrtled lo tske 8¢fvantsge of the small wrnpanl exemption ffom the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. Rèsponsibllltles of tru¥tee8 As explained more fulty in the Statement of Trustees. Responsibilit$. the trustees (who are also the directors ofthe charitablo company forthe purposes ofcompany law) are responsible for the preparat• of the financial statements and for being satisfied that they gwg a true and fair view, and for such internal control as the trustees delem7ine is necessary lo enable the preparation of financial slalemenls that are free from material misstatement, whether due to fraud or error. In preparing the finaneial statements, the trustees are responsiblo for assessing the charilabk companls ability to continue as a going concern, disclosing, as applicable, mattets related lo going concem and using the going concern basis of accounting unless the Irusts either intend to liquidate the charitable company or to cease operations, or have no realistic aftemalive bul to do 80. Our responsibllltles for the audit of the flnanclal ststements Our objectives are to obtain reasonable assurance about whether the finan¢HI statements a8 a whole are free from material misslalemenl, whether due lo Iraud or error. ané lo issue a Report Ihg Independent Auditors that ineludes our opinion. Reasonable assurance 1$ a hh level of assurance, bul is not a guarantee that an audit Conducted in a¢cordance with ISAS IUKI will avaYS delect a material missLement vA7en it exists. Misstatements can arise from fraud or error and are conshlered material rf, individually or in the aggregate, they Could reasonably be expected lo influence the economic decisions of users lakgn on the basis of these ffinancial statements. Extent to whlch the audit was consldered capablé of detoctlng irregularltlw Including fraud We idenlfy and assess the risks of material mi8slalement of the Financial Statements. whether due to fraud or error, and then, design and perform audit procedures responsrve to those risks. including obtaining audit evidence that is SUffrent and appropriate lo provide a basis for our cpinion. We discussed our audit independence complying with the Revised Ethical Standard 2019 wth the engagement team members whilst planning the audit and continually monitored our independence throughout thg process. Identifying and asse551ng potential rfsks related to Irrngularltles In identifying and assessing risks of material misslatemenl in respect of iiregularilies, including fraud and non- compliance wrth laws and regulations, our procedures included the following.. enquiring of management, inclLrding obtaining and revwiing supporting documentstion, conceming the chariiy's policies and procedures relating to.. Klentifying, evaluating and cLxnplying wrth laws and regulations and whether they were aware of any instances of non-compliance., detecting and responding lo the risks of fraud and Whet thèy have knowledge of ary actual. suspec or alleged fraud,, the inlgrnal controls established lo mrtigate risks rebted to fraud or nOnOmpliance wth laws and regulations,. discussing among the engagement team how and where fraud mighl c¢cur in the Financial Statements and any potential indi¢ors of fraud. As part ot this discussion, w& pjentffied potential for fraud in the following areas.. Management overr5de of controls Page 12
REPORT OF THE INDEPENDENT AUDrroRS TO THE MEMBERS OF CARE AND REPAIR WESTERN BAY FOR THE YEAR ENDED 31 MARCH 2024 Identlfying and assassing potentlal rlsks related to Irregularltles continued oblaining an understsnding of the legal and reguLqlory frameworks that the charity opemtes in, focusing on those laws and regulathlns that had a direct effect on the Financial Statements or that had a fundamental effect on the opèrations of the eharty, The key laws and regulations we considered in this context included the UK Companies Act and relevant tax legislat)n. Audit rgspon$e to risks Identified In addf(ion lo the above, our pr¢xedures to respond lo risks identified included the follcN41ng'. revievn9 the financial statement disclosures and testing to supporting duMents¢l0n to 8S8ess eomplianee wrth relevant laws and regulations.. enquiring of management corKeming actual and potential litigation and claims,. perfonning analytical prLxedures lo identfy any unusual or unexpected relationships that may indicate risks of matgrial misstement due to fraud.. reading minutes of meetings of those charged with govemance and reviewing correspondènce wtth HMRC,. and in addressing the risk of fraud through management override of controls. testing the appropriateness of journal entries and fAher adjustments". assessing whelherthejudgements made in making accounting estimates are indicatwe of a PGlentÉal bias. and evaluating the busine5$ ralh?nale of ony SnIfICant tranSli0n$ that are unusual or outside the nom1 course of business. We also cemmunicaled relevant identffjd laws ar regulations and potential fraud risks to all engaggrnent team membern and remained alert lo any indications of fraud or non<ompliance with laws and regulations throughout the audit. A further dgscripl)n of our responsibilities for the audst of the financial statements is bcated on the Financial Reporting CoLFncil's website at www.frc.org.ukjaudiior8responsibilf(ies. This derIpt1n forms part of our Report of the Independent Auditors. Use of our report This report is mode solely to the charitable company's members, as a b(xly, in 8ccordance wtth Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might stale to the charitable comp8ny's members those matters we are required to stste to tM in an auditors, rert and for ) other purpose. To the fullest extent permrtted by law. we do not accept or assume responsibilty lo anyone other than the charitable company and the charitable company'8 members as a body, for our 8LKlit work. for Ihis report, or for the opinions we have formed. Henry Lloyd Davies (Senior Slatutory Audilorl for and on behalf of Bevan Bucand LLP Chartered Accountsnts And Slatulory Auditor8 Ground Floor Cardigan House cast Court Swansea Enterprise Park Swansea SA7 9LA Date.. 06.11.2024 PwJe 13
CARE AND REPAIR WESTERN BAY CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2024 2024 Totsl furKIs 2023 Total funds Unrestricted funds ReStrted fvnds Notes INCOME AND ENDOWME1 FROM Donations and legacies 16,398 16,398 489,135 Charftable actlvitios Care & Repair 2,542.416 888,821 3,429,237 2,292.662 Irwestment income Other income 4,387 18.086 4.387 18,086 3,910 18,852 Total 2.581,287 886.821 3,468,108 2,804,559 EXPENDrruRE ON Charitable activltles Care & Repair 2.747,583 886.821 3,634,404 2,880,117 Totsl expenditure 2,747.583 886,821 3.634,404 2,880.117 Re-measuremenl gainsl(loses} on defined benefit pension {66,0001 I66,0} (62,0001 NET INCOME BEFORE TAXATION (232.296) 1232,296) 1137,558) Taxation 27.446 27.446 5,623 NET INCOMe (204,8501 (204,850) {131.935} Transfers behveen hJnds 19 Net movement in funds 1204,850) 1204,8501 1131,9351 RECONCILIATION OF FUNDS T¢)tal funds brcmjght 1,150,367 1,150,367 1.282,302 TOTAL FUNDS CARRIED FORWARD 94S,517 945,517 1,150,367 The notes fonn part of these financial statement Pago 14
CARE AND REPAIR WESTERN BAY CONSOLIDATED BALANCE SHEET 31 MARCH 2024 2024 Total funds 2023 Total funds Unreslricted funds Restricted funds Notes FIXED ASSETS Intangible assets Tangible assets 15 16 3,333 172,958 176.291 124,641 124,641 124,641 124,641 CURRENT AssErs StrKks Debtors Cash at bank and in hand 14,250 228.794 1017.708 14,250 228,794 1017708 32,660 303,737 1 124,001 17 1,260,752 1,280.752 1,460,398 CREDITORS Amounts falling due within one year 18 (193.7981 1193,798) 1268,9941 NET CURRENT ASSErs 1.066,953 1,C66,953 1,191.404 TOTAL ASSETS LESS CURRENT LIABIUTIES 1 191594 1,191594 1319.233 CREDITORS Amounts falling due 8fter one ye8r 19 {19.1351 (19.135) PROVISIONS FOR LIABILITIES 226.942 217.328 NET ASSETS 945.517 945,517 1,150,367 FUNDS Unrestricted funds Restncted funds 20 945,517 945,517 1,150,367 TOTAL FUNDS 945,517 945,517 1,150,367 These financial statements have been prepared in ardance with the provisions applieable to charitable companies subject to the smll comp8nEs regime. 06.11.2024 The financial slalements were approved by the Board of Trustees and authori8ed for issue on ...................... and were sned on its behaW by: D W Tovey- Twstee The notes fomi part of these financial statements Page 15
CARE AND REPAIR WESTERN BAY CHARITY BALANCE SHEET 31 MARCH 2024 2024 Total funds Unrestricte<l funds 2023 Total funds Restricted funds FIXED ASSET8 Tangib assets Notes 16 112,378 112.378 124,294 CURREKf ASSETS Debtors Cash al bank and in haThY 17 208,933 844,118 208.933 247.547 1.075,539 1,053.051 1.053,051 1.323,086 CREDITORS Amounts lalling due within one year 18 {118,505) {118.505) {345.7261 NET CURRENT ASSETS 934,546 934,548 977.360 TOTAL ASSETS LESS CURRENT UABILITIES 1046 924 1,101,654 CREDITORS Amounts falling due after one year PROVISIONS FOR LIABILITIES 119.135) (19.1351 225 000 225 000 2C6,000 NET ASSETS 802.789 802,789 895,P)54 FUNDS Unrestricted funds Reslricled funds 20 802,789 802.789 895.654 TOTAL FUNDS 802,789 802.789 895.654 These financial statements have been prepared in accordance with th8 provisi)ns appltsbl8 to charitable mpanies subj.ect to the small c¢)mpanh8s regime. The financial statemgnls were approved by the Boalil of Trustees and alrthced for issue on .Q6.1 and were signed on its behaw by.. ,2.024 D W Tovey- Trustee The n¢kns fom part of these finaneial statemgnls Page 16
CARE AND REPAIR WESTERN BAY CONSOUDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Cash flows from operating a¢Uvlties Cash generated from operations Interest paid 1120.378) 13391 1546.707) Net cash provKled by operating xtNilies 1120,7171 1548.707) Cash flows from Invgstlng activitie5 Purchase of tsngible fixed assets Proceeds from sale of langible fixed assets Interest receNed (6,2971 {139,857} 17,600 4,387 1.869 Nel cash used in irwe5tiry actnif(ies 1S,690 (137,988} Cash flows from financing acllvities HP repayments in year (1,266) N81 cash used in financing aclivit*s (1.266) Change in cash and ush oquivalents in the reporting period Cash and cash equlvalents at the beginning of the reportlng rIOd {1C6.293} 1684.695) 1,124,C(11 1.808.696 Cash and cash equlvalents at the end of the reporting rIOd 1,017,708 1,124.1 The notes fomi part of these finaneial statements Page 17
CARE AND REPAIR WESTERN BA Y NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net income for the reportlng perfod (as p•r tho Statement of Financial Actlvltib$) Adjustments for: Depre¢tIOn charges Interest payable (Profft)Aoss on disposal of fixed assets Re-measuremenl gainsl{lossesl on deffned bgnefft pen8hJn Inte1 receNed (Increaseydecrease in stocks (Inereaseydecrease in debloT8 Increase in creditors 1224,278) (131.9351 61,649 339 865 10.983 (4.387) 18,410 93.003 180,2951 59,516 9.377 11,8691 (6,2831 1120,377) 1355,1361 120,378 546,707 2. ANALYSIS OF CHANGES IN NET FUNDS Al 1.4.23 Cash fl¢ At 31.3.24 Net cash Cash at bank 1,124,001 1C6,293 1,017,708 Total 1.124,001 1,293 1,017,708 The notes fom7 part ofthese fin8nci81 statements Page 18
CARE AND REPAIR WESTERN BAY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 AccouTrmNG POUCIES Basls of prnparlng the financial $tat8m•nts The financial stslements of the charrlable company, whth ts 8 public benefrt entty under FRS 102, have been prepared in accordance with the Charf(ies SORP IFRS 1021 'Accounling and Reporting by Charilw6.' Statement of Recommended Pr&tice applicable to charrties preparing their aceJnts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Iretand IFRS 1021 (effective 1 January 20191,, Financial Reporting Standard 102 The Financial Reporting Standard applicable in thg UK and Republic of IreLqnd' and the Companies Act 2006. The financial statements have been prgpared under the historical cost corwention, with the exeepllon of Invesknents which are included at market value. Consolldatlon The inctsme and expendilure account and balance sheet ¢onsolNJale the financial stslements of the parent CaTe ond Repair We5tem Bay and ils subsidiary undertaking. Care and Repair Solutions Ltd. The resuhs ofttte SUbslary are consolidate(l on a line by line bosis. Golng concern Al the time of approving the fin8nci81 slatements, the trustees have a reasonable expectation th8t the Charty has adequate resources lo continue in operational existence for the foreseeable future. The trustees have made this assessment base(l on reviewing financial budgets and forecasts for a pertod of 12 months f¥om the date of the approval of these financkql slal8ments. Thus the trustees continue lo adopt the going concern basis of 8c£ounting in prepariro the financial stateEntS. Income All income is recognised in the Slalement of Financial Activrf(ies once the charity has entiuement to the funds, it is prctsable Ihal the iome will be received and the amount can be measured reliabty. This includes capital grants. Donations and legacies income include5 donations, grfts and grants that provide core fundiTrJ or are ol a general naure and are recognised where there is enlitlemenl. probability of receipt and the amount can be measured wrth sufficient reliability. Such incomo is onty deferred when the donor specffies it must be used in future accounting periods or the donor has imposed Condrtns which must be met before the charity has nndItional entrtMent. Income frem chafiiabl8 actNilies includes income received under contr&t orwhere entitlement to grant fitnding is subJ'e¢t to Specffi perfomianc8 conditK)n$. This income is reeognised where there is enif(lement, when the receipt is probable and the amount be measured reliably. Income is deferred when the amounts receNed are in advance of the perfownance of the 3eTvice or 'evenl lo which they relate. Other trading activilies are recognised as the reLated services are provided and there is entitlement, probabilty of receipt and the amount can be measured with sufficient reliabilty. Income is deferred when the amounts received a in a¢fvance of Ihe delNery of the service or event to lch it relates. Investment income recognised on a receNable ba5iS. It is not the policy of the charity to show inwrne net of expenditure. Expendlture Liabilities are recognised as expenditure as 500n as there is a *al orconstructive obligation committing the charity to that expenditure, it is prct)able that a transfer of economic benefrts will be required in settlement and the amount of the obligation can be measured reliabiy. Expendrture is aOUnted for on an ac¢ruals basi5 and has been classtfied under hoadings that aggregate all cost related lo the category. ere costs cannot be directty attributed to particular headings they have been allocated lo activities on a basis Consistent wrth the use of resources. Page 19
CARE AND REPAIR WESTERN BAY NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2023 Expenditure on charitable activities comprises those costs incurred by the charty in the delivery of ts activities and services for ils beneficiarie5. It includes both costs that can be ?Ilocale(I directty to SLKh activities and th058 costs of an indired nalure to support them. Support eosls are those Costs that. whilst necessary to deliver an actlvty, do not themsefves produce or conslilute the output of the charitable actNty. This includes govemance costs whrch are those costs associated with meeting the eonstilutional and statutory requirements of the charty and indude the accountancy fees and costs linked to the strategic management of thg charity as well as a proportion of salaries based on an approximation of limg spent in this area. Expenditure includes anYVATWhh cannot be fully recovered and ts reported as part of theexpenditure to whKh it relates. Allocatlon and apportionment of costs All costs are allocate(J bettveen the expenditure ¢egories on a basis designed to reflect the use ofthe resource. Costs relating to a particular activity are allocatsd directly,. salaries and related costs are 8PPQrtioned based on lirne spent and overhead costs are 8pportDned in 8ecordanee with the proportion of employees. Tangible fixed as$gts The acquisition of motor vehKles. computers, and olherequipment is capilalised where the gross cost of such items exceeds £250, and the nel cost after grants and other caprtal contributions is wntten off over the estimated usoftjl Irfg of that asset. Depreciation 1$ charged on a slraighl line basis al rates estimated lo write off the net cost offixed assets over their useful economic lrfe as follows.. Impn)vemenl8 to property Motor Vehicles Computer equipment Office equipment Over the term of the lease 25%- 33.33V• slr8ight line 2SO/ts Str8ight line 25% straight line Fixed assets are initially recorded at cost. Taxatlon The charity Is exempt from corporation tax on f(s charitable activities. Fund accounting Unrestricted fund8 can be used in accordance wrth the charitable objectives at the discret•)n of the twsteos. Restricted funds can only be usgd fof particular restricted purposes within the objects of the charrty. Restrictions arise when speCrfd by the donor or when funds are raised for partular restricted purposes. Further explanalKJn of the noture and purpose of each fund 18 included in the notes lo the financial statements. Pen$•on Costs and other po8t-rntlrem•nt ben8fts The organisalron also participates in the Social Housing Pension Scheme (SHPSI fundgd and conlracledknout of the Stale Pension scheme. It is not possible in the normal course of events to identify on a consistent and r&onable ba8lS the share of underlying assets and liabilities to individual participating employer8. This is because the Scheme is a Mu1MlOy8r Scheme where the scheme assets are CO•mingled lor investment pu0$9$, and benefts are paid from total scheme assets. Accordingty. due to the nature of the scheme, the accounting charge for the Per represents the gmployer Contribut payable. Operatlng leases Rentals appluble to opgrating leases %there substantl81ty all of the beneffts and risks of the ownership remain wrth the less01 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 sTATEMEPs - continued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POUCIES - contlnued Employ•e nefits When &mpbyees have rendered service to the group, short-temi employee benefrts to the employees ale entitled are recconised at the undiscounted amount expected to be paid in exchange for that servu. FinanGi•l In$truments The group only has financial assets and financial Ikgbilrties of a kind th8t qualrfy as bo$iG financial instruments. Basic financial instruments are initi81ty recognised at transact value and subsequently measured at their settlement value. Debtors with no stated interest rate and receivabl8 Within one year are recorded at transaction price. Any losses arising fiom impaimienl are recognised in expenditure. Prepayments are valued at the amount prepaKI net of any trade diseounts due. Creditors and provision8 are retcgnised where the group hss a present Obligation resurting from a past event that will Probab result in the transfer of fvJnd8 lo a third party and the amount due lo settle the obligation can be measured or estimated reliably. Creditor8 and provisions are noMllY recognised al their settlement amount after allowing for any trade discounts due. Significant accounting judgèmènts and 8#timatss Estimates and judgements are continualty evaluated and are based on hisloric81 experience 8nd other rekvanl factors. including expectations of future events that a believed to te reasonable under the circumstances. The preparation of the financial statemgnts requires managgm8nt to make estimates and assumptions conrnIng the future. The re$uRing accounting oslimales will, by definition, be likely lo differ from the relgled actual results. No estimates or assumptions have been identrfied that have Signrficanl risk of ausing material adjustment lo the carrying amounts of assets and liabilities within the next financial year. 2. DONATIONS AND LEGACIES 2024 2023 Client donations Grants 16.398 3,543 485.592 16,398 489,135 Grant$ receive(I, includo in the above, are below.. 2024 2023 Wglsh Govemment Neath Port Talbot County Borough Council 480.612 4,980 485,592 Page21
CARE AND REPAIR WESTERN BAY NOTES TO THE FINANCIAL STATEMENTS - continuod FOR THE YEAR ENDED 31 MARCH 2024 3. INVESTMENT INCOME 2024 2023 Deposit Acc¢JJnt interest 4. INCOME FROM CHARITABLE ACTMTIES 2024 2023 Grants Benevolent funding Charitable trading Income 2,334,577 1.636,222 4,7¢J) 651,740 1,094.660 3,429,237 2.292 662 Grants received. included in the above, are as follows.. 2024 2023 Age Cymru Wesl Glamorgan Dementia Partnership Care and Repair Cymru Cty & Council of Swansga ENABLE City & Council of Swansea Housing Deportment Nealh Port Talbol CBC Nealh Port Talbol Essentlal Access Grant RPB Housing wrth Care Swansea Bay Universty Health Board - Carfjis Project Swansea Bay Universty Health Board- Hospital lo Home Swansea Bay University Heahh Board- Supporting Hospital admission and discharge P Affordable Wam*h Welsh Government Home Improvement Agency Cor Welsh Government- RRAP Capital Grant 53,798 83,087 455,354 156,782 47,361 86,771 455.354 135,715 316,839 69.360 579,070 83,265 33,587 118,383 33,587 133,300 4,500 s11,5 308,309 304,412 2,334 577 1636,222 Page 22
CARE AND REPAIR WESTERN BAY NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2024 5. OTHER INCOME 2024 2023 Other income 18,086 18.852 6. RESULTS OF PARENT CHARITABLE COMPANY The incow6 ofthe parent charitable wrpary £3,131,428 aTrJ nel expendilure was £92,865. 7. CHARITABLE ACTIVITIES COSTS Direct costs Support costs T¢)ts Care & Repair 3,424,332 210,071 3,634,403 DIRECT COSTS OF CHARITABLE ACTIVITIES 2024 2023 Staff wsls Dirgct purchasing and ntraOr ¢o$ts Other direct costs Staff training costs Travel arKI Subsistence Rent. rates and other prgmises $ts Insurance Light and heat Cleaning costs Telephone c08t8 PTinling, postage and station Repairs and main1gnae Sundry expenses Computer costs Recruitment costs Bad and doublful debt Staff management Costs Improvements to propety Equipment hire & rental Depreckgtion and amortisat 1.403,544 1,884,559 76,781 13,996 21,293 24,875 33,8C 22,782 8,751 19.057 6.646 11,358 1.444,767 772,765 126,700 12,988 15,534 84,717 9.385 17.277 7,790 3,078 17.228 {17,155) 212 34,536 11,436 87 260 1,467 3,274 55,858 29,593 4,200 62,761 3 424 332 2.602.204 9. SUPPORT COSTS Management Professional Other Governance Totals Care & Repair 210 071 Page 23
CARE AND REPAIR WESTERN BAY NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 10. NET INCOMEI(EXPENDITUREI Net inoynel{expenditurel is stated after chargin@{crediling)." 2024 2023 Auditors. remuneration Depreciation- owned assets Amortisation of intangible fixed assets Prof{lOS$) on sale of tsngible fLxed assets Expenses under operating leases 18,169 61.649 1,112 10.560 55,858 3,658 24.750 11. TRUSTEES, REMUNERATION AND BENEFITS There were no Iruslees. reMUneratn or other benefits for the year ended 31 March 2024 r)rfor the year ended 31 March 2023. Truste•s' exptrnsgs There were no eypenses pard lo Ifuslees in the year. In the prior year th8 charity paid £nil in relation to training expenditure and towards the costs of PIding trustee meetings. 12. STAFF COSTS 2024 2023 Wage8 and salaries Social securty costs Other pension costs 1.330,654 116,847 79,711 1.403,094 124,898 76,318 1,527212 The average monlhty number of employees during the year was as follows.. Employed staff 2024 2023 57 No empbyegs recerved emoluments in excess of£60,000. The total key management personnel remuneration beneffts during the year were £123,668 12023.. £202.8401. 13. TAXATION Analysls of the l¢reditVcharye The lax l¢reditychar9e for the year was as follfYW$.' 2024 2023 Current tax UK ctxporation tax {18.060} Deferred L (9,386) (5,623) 5.623 Page 24
CARE AND REPAIR WESTERN BAY NOTES TO THE FINANCIAL STATEMENTS - ¢ontlnued FOR THE YEAR ENDED 31 MARCH 2024 14, COMPARATIVES FOR THE CONSOLIDATED STATEMEPIT OF FINANCIAL ACTIVITIES Unrestricted Reslrthd fvnds funds Tclal funds INCOME AND ENDOWMENTS FROM Donations and legacies 489.135 489,135 Charltable actlvftle8 Care & Repair 8(E.341 1,486,321 2,292.662 Investment incorr Other incom& 3,910 18,852 3,910 18,852 Total 1,318,238 1,486,321 2,804,559 EXPENDITURE ON Charltable actlvltles Care & Repair 1.393,796 1,486.321 2.880.117 Total Expendlture 1,393,796 1,486,321 2,880,117 Re*mea$uremenl gain$l{loses) on defin b8nefrt pension {62.000) I62,0) NET INCOME BEFORE TAXATION 1137,558) (137,558) Tat10Th 5,623 5,623 NET INCOME {131.9351 (131,935) Transfers between fvrKIs Net movement in fvnd¥ {131,93SI 1131.9351 RECONCILIATION OF FUNDS Total fund5 brought fomard 1.282,302 1.282,302 TOTAL FUNDS CARRIED FORWARD 1,150,367 1,150,367 Page 25
CARE AND REPAIR WESTERN BAY NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2024 15. INTANGIBLE FIXED ASSETS Group Other Intangible Assets COST Al 1 April 2023 Impaimenl At 31 March 2024 14.635 (14.635) AMORTISATION At 1 April 2023 Charge for year Impairment At 31 March 2024 11,302 1.112 (12.414) NEf BOOK VALUE Al 31 March 2024 At 31 March 2023 15. TANGIBLE FIXED ASSETS Group Fixtures Improvements lo pr¢)perty Computer equipment and Itxjls Motor vehiel85 frtting$ Totals COST Al 1 April 2023 Addi(ions 'sposa18 At 31 March 2024 159.943 17,726 1,183 2C,th)2 25,510 119,0451 206,466 93,622 5,104 471,293 31,797 132,230) 470,859 {13,185} 146,758 18,909 98,726 DEPRECIATION Al 1 April 2023 Charge for year Elirninaled on disposal At 31 March 2024 107,877 5,188 11,465) 111,600 15,289 1,037 113,937 41.721 (12,300) 143,358 61,231 13,703 298.334 61,649 {13,7651 346,218 16.326 74.934 NET BOOK VALUE At 31 March 2024 2,583 63.108 23,792 124.641 At 31 March 2023 52.066 2,437 86,064 32,392 172,958 The net b¢)ok value of motor vehicles held on finance lease at th8 year ended 319t March 2024 was £23,916 12023.. £Nil}. Page 26
CARE AND REPAIR WESTERN BAY NOTES TO THE FINANCIAL STATEMENTS . continuod FOR THE YEAR ENDED 31 MARCH 2024 15. TANGIBLE FIXEDAsSETs-TrI Charity Fixtures and frttings Computer equipment and tools Improvement8 to propety Motor Vghicles TotaL8 COST At l April 2023 Additions Disposals Al 31 Mareh 2024 159.943 17.726 1.183 44.879 25.510 69,613 3,416 292.161 30,109 113,185} 309,085 113,1851 146,758 18,909 70.389 73,029 DEPRECIATION Al 1 April 2023 Chargg for year Eliminated on disposal Al 31 March 2024 107,877 5.188 (1.4651 111,600 15,289 1,037 2.782 12.814 41,919 11.266 167,867 30,305 {1,4651 196,707 16,326 15,5 53,185 NET BOOK VALUE Al 31 March 2024 19.844 112378 Al 31 March 2023 42,097 124294 Page 27
CARE AND REPAIR WESTERN BAY NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 17. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Group 2024 Charlty 2023 2024 2023 Trade debtors Amounts owed by group undertakings Tax Other debtors Prgpaymenls and accrued inc 30.296 226.822 4.443 70,335 198,081 18,060 105,113 75.325 124.029 10.126 76.915 49,466 228,794 303,737 208,933 247,547 18. CREDITORS". AMOUNTS FALLING DUE WITHIN ONE YEAR Group 2024 2023 Charity 2024 2023 Hire purchase contracts Trade credrtors Amounts owed to group undertakings Social security and other taxes VAT Other creditors Aru81S and deferrod Iome 5.099 118.768 5,099 77,203 184,223 95,227 200.192 (14) 23,444 {9n 9,713 28.931 46.224 15,214 34,278 12.210 11,189 9,800 9,267 41,054 193,798 268.994 345,726 19. CREDITORS: AMOUNTS FALLING AFTER WITHIN ONE YEAR Group 2024 2023 Charlty 2024 2023 Hire purchase contracts 19,135 19,135 19,135 19.135 20. PROVISIONS FOR UABILTIES Group 2024 Charity 2023 2024 2023 Defined pensron scheme promsron Deferred lax provision 225,000 3,331 206,000 11.328 225,CW) 2C6,000 228 331 2C6.000 21. SECURED DEBTS The foll¢Jwing 59cured debt$ are in¢lud&J within creditors.. 2024 2023 Hire purchase contracts 24,234 24,234 Hir& purchase liabilities are secured by the assets lo which the agreem8nl relates and are included within tangible fixed a58et8. Page 28
CARE AND REPAIR WESTERN BAY NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 22. MOVEMENT IN FUNDS- CONSOUDATED Net rmvement in funds Transfers At 1.4.23 funds At 31.3.24 Unr•strict•d fund• General fund Designed fiJnd- Pension cy)nlingency fund Designed fund- Hardship fund Designatad fisnd- Technical hardship Designad fund- Accommodation reserve 903.841 130,0 1,643 44,740 70,343 (204.8501 698.791 130,0(K) 1,643 44,740 70,343 1.150.367 1204.8501 945.517 Restricled funds TOTAL FUNDS 1.150.367 {204,8501 945.517 Net movement in fijnds. irKILfvled in the above 8r8 as follows: Incoming Resources expended Movement on funds Unrestii¢ted fvnd• Ggngral fund 2,581.287 2,581,287 2.786,137 12,786,137) {204,850) Restrleted funds Rapid Response Adaplatson Programme Essential ac£e88 ENABLE (Swanseal Fund Cymru Dementia PartneTship 308.309 69.360 455.3S4 53,798 (308,309) 169,3601 1455,3541 153.79) 888,821 1886,821) TOTAL FUNDS 3,468,108 13,672,958) {204,850) Pag& 29
CARE AND REPAIR WESTERN BAY NOTES TO THE FINANCIAL STATEMENTS- contlnuod FOR THE YEAR ENDED 31 MARCH 2024 22. MOVEMENT IN FUNDS- corrt Comparativ89 for movem•nt In fund¥ Transfers movement b8hveen in fur$ funds At 1.4.22 At 31.3.23 unTrstrtet funds General fund Designed fund- Pen0 conlingency fund Designed fund - Hardship ftjnd Dasignatad lund- Technical hardship Designed fund- Accommodation raserve 1,017,219 130.000 20.000 44,740 70,343 1,282,302 {103,5781 110,0001 903,641 130.000 1.643 44,740 70,343 {28.3571 10,000 1131,935) 1.150,367 Restrlctod funds TOTAL FUNDS 1,282.302 (131,935) 1,150,367 Net movement in fund8, incluLJed in the above are as follcms.. Incoming resources Resources expended Movement on funds Unr9Stthted fund8 Genoral fund 1,318,238 1.318,238 1,450,173 11,450,173) 131,935 {131,935} Restrleted funds Rapid Responsa Adaptslion Progrgrnm8 Essential acLess ENABLE (Swanseal Fund B8nevolent funding Care & Repair Cymru- Hospital to home cas8worker Care & Repair CymnJ- Cnticaj Prevention fund Wami Homes fund {ICF) Plimary care caseworker 8nd technical pro¢1 (ICF) WPD- Affordable warmth fund Gimng Your Time Back Supporting Hospilal Discharge and Admlssiotv Age Cymru Derrentia Partnership Ngath Pc¥t Talbot Slippag8 304,412 158,000 455,354 4,7C 40,614 41.657 6,453 33,587 1304.412) 1158,OCQ) 1455,3541 (4,700) 140,6141 141,657) (6,453) (33.587) {4,5001 1118,3831 (133.3001 147,361) {138.OWI (1,486,321) 118,383 133,300 47,361 138,OJO 1,486.321 TOTAL FUNDS 2,804,S59 {2,936,4941 (131.9351 Page 30
CARE AND REPAIR WESTERN BAY NOTES TO ThE FINANCIAL STATEMENTS - continu FOR THE YEAR ENDED 31 MARCH 2024 DESIGNATED FUNDS P8n$ion contingency res8 To provide for pension contingency costs during any winding down of operations or change in Fension provider. H•rdshlp fund This fund aims to provide fn¢91 support for some or all of the costs of completion of works for vulnerable clients. Te¢hnlcal hardshlp fvnd A new fund to develop 8 charity based Handyperson Service through the Core TechnKal Officer SeNice in order to support clients with provision of full-cosl works, primarily those works that it is drfficuk to engage an external contractor to complete. Accommodation reseNe To cover rent liabilf(ies to the end ofthe k8se, or rf not required lo assist with the purchase of a property at this lime. RESTRICTED FUNDS Rapid Responso Adaptations Programm• Welsh government provide funding lo enab the charty to deliver a service a$ part of a partnership approach that provides a rewid response lo referrals from He8h and &la1 Care professionals f minor repairslajaplalion8. Ess•ntial accoss Funding from Neath Port Talbot County Borough Couneil Housing and Social SeNces Department for minor repairs and adaptations in the Neath Port Talbot area. ENABLE (Swanseal fund Welsh Govemment funéing was received for the delNery of adaptations in relation to ENABLE Support for Independent Living for the local authority of Swansea. PRIOR YEAR RESTRICTED FUNDS Wlnter prossuros fund Inlegrale(I Care capital funding from Welsh Govemmenl via the Wesl Glamorgan Regional Partnership Board. To provKle quick housing atlaptalion and repair solUtn8 to assist in hospital discharge and to enable independent living and improve well-being for older people with complex needs and long-lemi condrtions {including demenlial. The Project provided practical solutKJn5 in order to improve and make safe the home environment. NPTCVS Volunteer Services-winter Pressures Managlng Better fund IICFI Integraled Care capital lunding from Welsh Govemment via the West Glamorgan Regional Partnershty) Board. Home repairs and adaptions for clients with sensory lo5$. Indopgndent Living lund IICFI Integrated Care Fund c8pi181 funding to provide quick housing adaptatnS to enable independent living and improve well-being. Prfmary Care projtct (ICF Intrated Care Fund capital funding for wod( wrth GP clusters throughout Neath Port Talbot and Swansea lo provide a deduted hc4ne improvement and adaptation resource for older people presenting at primary care locations. Page 31
CARE AND REPAIR WESTERN BAY NOTES TO THE FINANCIAL STATEMENTS- eontlnued FOR THE YEAR ENDED 31 MARCH 2024 Calon Y Cymoedd fund Funding from Calon Y Cymc¢dd to fund a Casework and TechnKal Officer and a Weware Beneffts Officer. WCVA Third Sector Recov•ry Fund Wares Council for the Voluntary SectcK funding for enhancing capacity in the trading arm. Pension Credit Campalgn CrtEens Advice Bureau funding for stsff time in line with the Test and Leam programme provlded by the Bureau. 23. CONTINGENT UABILITIES The group has been notified by the Pensions Trust ofthe estimated employer debl on withdrawal from the Social Housing Pension Scheme based on the financial position of the Scheme as at 30 Seplember2021. A5 al this dale the Scheme Actuary eslimaled employer debt was £1.268,000. Al the time of signing these accounts no further up lo date infomiatron was available. RELATED PAR DISCLOSURES The organisation has funding relationships wrth City & County of Swansea, Neath Port Talbol Courty Borough Council and Swan$ea Bay University Heafth Board who provided financial support on notmal ccmmercial temis erther by way of grants or impLrted services. Members of the organisation's Board of Management a also senior execulNes of those re$tiVe organisations. Page 32
CARE AND REPAIR WESTERN BAY NOTES TO THE FINANCIAL STATEMENTS- contlnuod FOR THE YEAR ENDED 31 MARCH 2024 25. PENSION COMMITMENTS The group partr¢ipales in the Social Housing Pensron Scheme, a mulli-employer scheme whth provJe8 benefrts lo some 500 non-associaled employers. A full actuarial valuotion for the s¢heme was Carried OLtt with an effe¢live date of 30 September 2017. This actuarial valuation showed assets of £4,553m, liabilities of £6,075m and a defr( of £1,522m. To eliminate this funding shortfall, the trustees and the parb'cipating employers have agreed that additional contributions will be paid, in combination from all employers. The key assumptions used in the valuation were: 2024 4.91Q 3.12% 2.79Yty 2023 4.84% 3.17% 2.7W 3.7V Discount rate Inflation {RPII Inflati¢)n {CPII Salary Growth The split of assets is 2024 £,0$ 2023 £'OOOs 19 11 31 39 Global Equty Absolute Relum Distressed Opportunities Credit Relative Value Amernalive Risk Pfemia Emerging Markets Debt Risk Sharing Insuranc&Linked Securities Propety Infrastruciure PrNe Equty Private Debt Opportunistic Lh]uid Credit High Yietd Opportunistic Credit Cash Corporate Bond Fund Liquid Credit Long Lease Propety Secured Incorne Liabilty DrNen Investment Currency hedging Net CuTrent Asset8 39 35 33 32 13 75 117 39 45 20 31 47 471 30 1.023 2024 £'OOOs 995 2023 £'OOOs 1,023 Fair value plan assets Present value of schane liabilitie8 Defrt in scheme 25 2C P49 33
CARE AND REPAIR WESTERN BAY NOTES TO THE FINANCIAL STATEMENTS - contlnuod FOR THE YEAR ENDED 31 MARCH 2024 24. PENSION COMMITMETrS- cont Amounts included within the Consofidated Statement of Financial Activities a.. 2024 £'OOOs (1Cfj) 11 13 16 2023 £'OODs 16631 Experience on pL8n assets Experience gains on the plan liabilities Experience ol changes in derrngraphic assumptions Effects of changes in th8 assumptions underfyiny the present valufj 593 66) {62 The ¢harity made contributions of £31,996 (2023.. £26.354) to the pension plans of empioye8s during the year, as well as deficit contributions of £60.000 (2023.. £53,279). Al the year end there were contributions of £11,18912023.. £9,022) outstanding. 25. POST BALANCE SHEET EVENTS The Board ofTru$tees of Care 8fKI Repalr Wgslern Bay have agreed to make the trading am a domianl ompany from 1sI April 2024 and to transfer all assets and trade lo the parent Charity. All operations in Care & Repair Solutions Limited will cease at 151 April 2024 and all activities and staffing will transler lo the Charty. Care & Repair Solutions Limited will rgmain open lo settle all oblKJations and liabllities as they fall due wrth the long term plan lo comr*n¢e the dorman¢y prc¢ess a8 time naturally progresses. Page 34