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2022-03-31-accounts

Contents
Report ofthe Trustees 1-9
Report ofthe Independent Auditors 10-13
Statement of Financial Activities 14-15
Balance Sheet 16—17
Statement ofCash Flows 18
Notes to the Financial Statements 19-39

Aiin Progress
To provide a traditional Care &Repair We provided
a Care
& Repair
(casework-technical)
service
in
Service (home visiting, problem-led, Blaenau
Gwent
& Caerphilly
county
boroughs
and
provided
client centred and individually solutions that have improved
the independence
ofolder people.
tailored). During
2021/2022
we
have
helped
1,950 older
people,
532
received a home visit and a Healthy
Home assessment
to assess
their individual
needs.
To address home hazards in the home In providing outcomes that improve independence
and reduce the
and reduce the risks to the wellbeing risk to health
& wellbeing
we have completed 1,693works at a
of older people, allowing them to live total value off654,921.Increased Welfare Benefit income for87
in comfort, safety &security. older people at a combined
value off325,371.Raised charitable
income
in support of home improvements
for 15older people at
a value of E16,456.
Utilised
private
resources for crucial home
improvements
47jobs for older people at a value ofE99W6 We
completed
749 jobs that reduced
the risk of a fall and 6 clients
were assisted
in terms ofheating/energy
efficiency.
To
ensure		 our services are high We
have
recently
gained
accreditation
for
Advice
Quality
standard, meet the individual needs of standard.
Which requires internal/external
audit processes, which
the
older		 people we serve and are followed
by all staff, client file reviews on a bi-monthly
basis.
support. Minor adaptations
are checked as 1in 10jobs. Client survey forms
are
now
being
sent
out,
as they
were
reduced
during
the
pandemic.
427 surveys
sent
out with
45N returned,
100fifi of
clients helped stated they were satisfied with service provided.
To ensure
our practical
services work		 Our completed
works supported
'a safe hospital		 discharge'
in S01
effectively
to meet the objectives of		 instances; and 'prevented
hospitaladmission'
in		 685instances.
On
safe hospital discharge
and/preventing		 average
it took 5 days from
requested
date		 to completion
of
hospital admissions. works.
To
provide
a
minor
adaptations
&		 We have facilitated
rapid
response,
safety at		 home,
and minor
small
repairs
service
in both counties		 repair schemes
for older people
in our boroughs
in partnership
in
partnership
with
Health
& Social		 with the Local Authority,
Health and Social Services. Our practical
Services
partners,
providing
effective		 services completed 1,8JIS works totalling F357,722 in value. The
health outcomes. works were completed
in an average of 5 days		 and the average
age of clients
was 78 years.
Referral
sources		 were
23% from
Health, 48' from
Social Services,
and 29% from
our Trusted
Assessors.
To
ensure
our
services
are
high		 The Agency
team
have
managed
to proceed		 throughout
with
standard,
meet the individual
needs of		 installation
referrals
from
all social care services,
carrying
out
the older people we serve and support installs well within the baseline targets, which has been a positive
their
independence.
Our
usual		 from all the team
in such difficult circumstances.		 Technical audits
procedure
is we
would
monitor
our		 have been carried out as guidance
has allowed.		 No surveys sent
service
impact
through
the customer		 out as not to double handle documents
and equipment.
Working
feedback
surveys,
this
has
been		 patterns
and transport
has impeded
on delivery		 cost asto double
reduced
greatly
this year due to the		 transport
but the risk has been unquestionable.
pandemic.

Company number: 10838311
Charity number: 1175753
Principal office: Unit 7Roseheyworth Business Park
Abertillery
Blaenau Gwent
NP13 1SP
Trustees Carol Morgan Chair
Colin Wallbank Treasurer
John Mason
Georgina Jones
Haydn Trollope
Robert Hall Vice chair
Elizabeth Thorpe
Key Management Personnel Rodney Evans Chief Executive Officer from 1April 2021.
Mike Lock Senior Technical Officer
Tina Howells Office/Finance Manager
Auditor: Azets Audit Services
Ty Derw
Lime Tree Court
Cardiff Gate Business Park
Cardiff
CF23 BAB
Bankers: Unity Trust pic
Nine Brindleyplace,
Birmingham,
B12HB
Solicitors: Geldards
Dumfries
House,
Dumfries
Place,
Cardiff,
CF103ZF

Total Total
Unrestdcted Restricted funds funds
Note funds funds 2022 2021
E E E E
Income and endowments from:
Donations
and legacies		 3 390 390 641
Charitable
activities		 4 896,259 113,099 1,009,358 858,841
Investment
income		 5 816 816 1,471
Other income 6 2,000 2,000 6,016
Trading subsidiary income 12 3,413 3,413 17,298
Totalincome and endowments 902,878 113,099 1,015,977 884,267
Expenditure on:
Charitable
activities		 7 612,308 113,099 725,407 652,509
Trading subsidian/s expenditure 12 173,464 173,464 151,910
Total expenditure 785,772 113,099 898,871 804,419
Net income 117,106 117,106 79,848
Other recognised losses:
Actuarial gains/(losses) on defined
benefit pension schemes 20 (27,000) (27,000) (156,000)
Net movement
infunds		 90,106 90,106 (76,152)
Reconciliation
ofFunds
Total funds brought forward 15,16 302,634 302,634 378,786
Totalfunds carried forward 16,17 392,740 392,740 302,634

Total Total
Unrestricted Restricted funds funds
funds funds 2022 2021
E E E E
Income and endowments from:
Donations
and legacies		 13,531 13,531 30,319
Charitable
activities		 994,669 113,099 1,107,768 934,567
Investment
income		 816 816 1,471
Other income 2,000 2,000 6,016
Total income and endowments 1,011,016 113,099 1,124,115 972,373
Expenditure
on:
Charitable
activities		 915,129 113,099 1,028,228 904,197
Total expenditure 915,129 118,099 1,028,228 904,197
Netincome 95,887 95,887 68,176
Otirer recognised losses:
Actuarial gains/(losses)
on
benefit pension schemes		 defined 20 ~27,QOD (27,000) (156,000)
Net movement
lnfunds		 68,887 68,887 (87,824)
Reconciliation
ofFunds
Total funds brought forward 15,16 290,796 290,796 378,620
Totalfunds carried forward 16,17 359,683 359,683 290,796
2022 2021
Note E
Fixed assets:
Tangible assets 27,030 13,779
Current assets:
Stocks 7,806 5,800
Debtors 13 271464 254,193
Cash at bank and in hand 477,965 485,967
757,635 745,960
Liabilities:
Creditors: Amounts falling due within
one year 14 (99,925} (133,105}
Net current assets 657,710 612,855
Net assets excluding pension liability 684,740 626,634
Defined benefit pension scheme liability 20 (292,000} (324,000}
Total net liabilities 392,740 302,634
The funds ofthe charHy:
Restricted income funds 15
Unrestricted
funds		 16 392,740 302,634
Total charity funds 17 392,740 302,634
FOR THE YEAR ENDE D 31 MARCH 2 022
Note 2022 2021
E
Net cash provided
by/(used		 in) operating activities 19 10,427 67,616
Cosh ffows from investing activities:
Dividends,
interest and rents from investments		 816 1,471
Purchase of property
plant		 and equipment (21,245) (14,155)
Proceeds on disposal 2,000 9,130
Net cash used in investing activities (18~9) (3,554)
Change in cash and cash equivalents in the reporting period (8,002) 64,062
Cash and cash equivalents at the beginning ofthe reporting period 485,977 421,915
Cash and cash equivalents at the end ofthe reporting period 19 477,978 488,976

Unrestricted Restricted Total Total
~Grou funds
E		 fundsf 2022f 2021
E
Donations 390 390 641
390 641
C~hari
Donations 390 641
Gift aid from Care Ik Repair Home
Maintenance Services Ltd 13,141 13,141 29,678
13,631 13,531 30,319

INCOME FR OM CHARITABLE ACTIVITIES
~Grou Unrestricted
funds
f		 Restricted
fundsf		 Total
2022f		 Total
2021
f
Grant income
Professional fees		 896,259 113,099 1,009,358 846,058
896,259 113,099 1,009,350 12,783
058,841
~Charit
Grant income
Professional
fees		 896,259 113,099 1,009,358 846,058
Management fees 98,410
994,669		 113,099 98,410
1,107,768		 12,783
75,726
934,567

INVESTMENT INCOME
0~43 Unrestricted
funds
f		 Restricted
funds
f		 Total
2022		 Total
2021
f
Bank interest 816
816		 016
016		 1472
1,471
OTHER INCOME
0~00 Unrestricted
funds
f		 Restricted
fundsf		 Total
2022
f		 Total
2021
f
Profit on disposal offixed assets
Other income		 2,000 2,000 3,902
2,000 2.000 2,114
6,016

EXPENDITURE ON CHARITAB LE ACTIVITIES
Total Total
Directf Support
f		 Governance 2022
f		 2021
f
Audit
Accountancy
services
Bank charges
Committee
costs		 122 14 9,195 9,195
136		 6,900
2,969
125
Depreciation
Health &safety
HTW
ILG
Insurance
Internal audit
ITsoftware &support
Legal &professional
Materials
&equipment
Motor
Printing,
postage and		 1,413
6,831
7,132
121,094
3,897
1,874
7,179
30
(105)		 157
759
208
798
(12)		 1,570
7,590
7,152
121,094
$,897
2,082
7,977
(117)		 5
5,375
5,725
3,582
50,466
4,329
8,419
222
8
104
photocopying
Rent and rates
RRAP
RRAP Plus
SAH
Staffcosts
Subscriptions
Sundry
Telecommunications
Trading sub
Training
&conferences
Travel		 1,184
18,509
84,984
5,674
20,793
S72,944
2,127
429
3,389
173,464
2,662
4,089
839,715		 132
2,057
44r438
236
47
$77
296
454
49,961		 9,195 1,316
20+66
84,984
5,674
20,793
417,382
2,$63
476
$,766
173864
2,958
4,S43
$98JI71		 2,620
18,897
95,311
3.122
22,029
407,361
288
324
5,322
2,680
6,326
652,5D9

Total Tota I
Direct Support Governance 2022 2021
Chaiitg E E E E
Audit 9,195 9,19S 6,900
Accountancy services 2,969
Bank charges 122 14 136 125
Committee costs 5
Depreciation 1,413 157 1,570 5,375
Health &safety 6,831 759 7,590 5,725
HTW 7,132 7,132 3,582
ILG 121,094 121,094 52,466
Insurance 3&897 3,897 4,329
Internal
audit		 1,874 208 2,082
ITSoftware &support 7,179 798 7,977 8,419
Legal &professional 222
Materials
&		 equipment 30 3Q 8
Motor (105) (12) (117) 104
Printing,
postage and
photocopymg 1,184 132 1,316 2,620
Rent and rates 18&509 2,057 20,566 18,897
RRAP 247,180 247,180 258,187
RRAP Plus 57,3Q1 57,301 32,754
SAH 109,791 109,791 79,209
Staffcosts 372,944 44,438 417,382 407,361
Subscriptions 2,127 236 2„363 288
Sundry 429 47 476 324
Telecommunications 3,389 377 3,766 5,322
Training &conferences 2,662 296 2,958 2,680
Travel 4,089 454 4,543 6,326
969,072 49,961 9,195 1,028,228 904,197

Net income for the period was stated after charging: Net income for the period was stated after charging:
d~d& 2022
E		 2021
E
Auditors
remuneration:
Audit fees 7,254 6,900
Accountancy services 1,941 2,969
Depreciation —Charity 1,570 5,376
Depreciation —Group 9,564 7,890

Total Total
2022 2021
~Grou f
Wages and salaries
Social security costs
Pension costs		 421,126
81,794
17+83		 411,985
29,499
19,272
470409 460,756
Wages and salaries
Social security costs
Pension costs		 574,200
27,757
15WS		 364,699
25,711
16,951
417.881 407,141

2022 2021
No. No.
Group 10 20
Charity 17 17

TANGIBLE FIXEDASSETS
Office Computer Motor
«Grou Equipment equipment vehicles Total
E E E E
Cost
At 1Apdl 2021 420 3,679 22,109 26,208
Additions 21,245 21,245
At31March 2022 420 3,679 43,354 47,453
Depreciation
At 1April 2021 420 3,679 8,330 12,429
Charge forthe period 7,994 7,994
At 31March 2022 420 3,679 16,324 20A23
Net book value
At 31March 2022 27,030 27,030
At 31March 2021 13,779 13,779
Charity
Cost
At 1April 2021 420 1,694 7,954 10,068
At 31March 2022 420 1,694 7,954 10,068
Depreciation
At 1April 2021 420 1,694 6,383 8,497
Charge forthe year 1,571 1,571
At 31March 2022 420 1,694 7,954 10,068
Net book value
At 31March 2022
At 31March 2021 1,571 1,571

2022 2021
PROFIT AND LOSSACCOUNT f f
Turnover
Cost ofsales
Gross surplus
Administrative
expenses
Other income
Operating
profit		 304,590
(171,428)
133,162
(100,447)
1,644
24859		 256,291
(149,105)
107,186
(78,531)
12,695
41,350
Statement ofchanges in Equity
Balance brought
Profit and total
Distributions
to
Balance carried		 forward
comprehensive
income forthe period
parent charity under gift aid
forward		 11,839
34,$59
(1$,140)
35,058		 167
41,350
(29,678)
11,839
BALANCE SHEET
Fixed assets:
Tangible assets 27,030 12,209
27.090 12,209
Current assets:
Stock
Debtors 7,806 5,800
Cash at bank and in hand 2,558
60,387		 1,433
25,579
Current liabilities 70,751 32,812
Net current assets/(liabilities) (64,723)
5,025		 (33,182)
33707
Net assets
59,055 11839
Capital and Reserves:
Profit and loss reserves 3$,058 11,839
35,t88 11,839

Total Total
2022 2021
~Grou f f
Trade debtors 145,034 123,286
Other debtors and prepayments 126,830 130,907
271,864 254,193
Chadty
Trade debtors 145,034 123,286
Other debtors and prepayments 124&272 129,474
Amount due from trading subsidiary 52,099 16,052
321,405 268,812
14. CREDITORS; AMOUNTS FALLING DUE WITHIN ONE YEAR
Total Total
2022 2021
Garou f f
Trade creditors 78,921 91,976
Accruals 9,510 6,900
Deferred income 3,620 22,451
Other creditors 7,874 11,778
99,925 133,105
Charity
Trade creditors 68,246 79,377
Accruals 7,560 6,900
Deferred income 3,620 22,451
Other Creditors 7,874 7,246
87,300 115,974
Deferred Income:-
Total Total
~Grou 2022
f		 2021f
Brought forward 22951 2,660
Received in year 990,527 19,791
Released to income (~1,&&&,&&&
Amount due less than one year 3,620 22,451
Charity
Brought forward 22,451
Received in year (1,028,189) 22,451
Released to income 1,009,358
Amount due less than one year 3,620 22,451

Asat Balance at
1April 31March
~dd d 2021
E		 Income
F.		 Expenditure
E		 Transfers
E		 2022
E
Covid-19 Job Retention
Scheme
Health Board -		 ABUHB Core 1,462 (1,462)
Revenue 20,909 (20,909)
Health Through Warmth 7,132 (7,132)
Hospital to a Healthier Home 37,606 (37,606)
Managing Better Senrice 40,990 (40,990)
UWHA 5,000 (5,000)
113,099 (113,099)
United Welsh H
P~		 ousing Associatio n supports th e Managing Better Caseworker post.
As at Balance at
1April 31March
G~dd 2020
E		 Income
E		 Expenditure
E		 Transfers 2021
E
Covld-191ob Retention
Scheme 20,212 (20,212)
Health Board - ABUHB Core
Revenue 20,909 (20,909)
Health Through Warmth 3,582 (3,582)
Managing
Better Service		 40,671 (40,671)
NationalLottery funding 9,800 (9,800)
UWHA 5,000 (5,000)
100,174 (100,174)

Actuarial
gains on
defined
Balance at benefit Balance at
1Apdil pension 31March
6~ron 2021
E		 Incomef Expenditure
E		 Transfers
E		 scheme
E		 2022
E
Unrestricted funds 302,634 902,878 (796,772) (16,000) 392,740
302,634 902,878 (796,772) (16,000) SS2,740
Charihy
Unrestricted funds 290,796 1,011,016 (926,129) - (16,000) 359,683
290,796 1,011,016 (926,129) - (16,000) 359,683
Actuarial
gains on
defined
Balance at benefit Balance at
1April pension 31March
2020 Income Expenditure Transfers scheme 2021
~Grou E E E E E E
Unrestricted funds 378,786 784,093 (704,245) ~{156,000 302,634
378,786 784,093 (704,245) {156,000) 302,634
Charihy
Unrestricted funds 378,620 872,199 (804,023) i156,ODD) 290,796
378,620 872,199 (804,023) {156,000) 290,796

Unrestricted Restricted Total
~Grou fundsf funds 2022
6
Fixed assets
Net current assets
Long term pension		 liability 27430
657,710
(292,000)		 27,030
657,710
(292,000)
$92,740 392,740
Charity
Fixed assets
Net current assets
Long term pension		 liability 6S1,68$ ~202,000) 651,683
(292,000)
359,68$ S59,683
Unrestricted Restricted Total
funds funds 2021
E f
Fixed assets
Net current assets
Long term pension		 liability 13,779
612,855
(324,000)		 13,779
612,855
(324,000)
302,634 302,634
Charity
Fixed assets
Het current assets
Long term pension		 liability 1,571
613,225
(324,000)		 1,571
613,225
J324,KS)
290,796 290,796

RECONCILIATION
O
ACTIVITIES		 F NET MOVEMENT IN FUN DS TO NET CASH FLOW FROM OPERAT ING
~Grou 2022 2021
E f
Net income/(expenditure)
forthe reporting		 period (as per the
Statement of Financial Activities) 90,106 (76,152)
Ad/ustments
for:
Depreciation
charges		 7,994 7,890
Dividends,
interest		 and rents from investments (816) (1,471)
(Profit)/loss
on disposal		 (2,000) (3,902)
(Increase)/decrease in stocks (2,006) 1,860
(Increase)/decrease in debtors (17,671) (1,809)
Increase/(decrease) in creditors (33,180) 39,200
Increase/(decrease) in long term pension liability (32,000) 102,000
Net cash provided by/(used
in) operating		 activities 10,427 67,616
Analysis ofCash and Cash Equivalents
Cash in hand 477,965 485,967
Total Cash and Cash Equivalents 477,965 485,967
Anal
isofchan
es		 in net funds
At 1March At 31March
2021 Cash flows 2022
E E E
Cash at bank and in hand 485,967 (8,002) 477,965

ASSETS, PRESENT VALUES OF DE
BENEFITASSET(LIABIUTy)		 FINED BENEFIT OBLIGATI ON, AND DEFINE
31March 2022 31March 2021
Fair value ofplan assets
Present value ofdefined benefit obligation
Deficit in plan
Defined benefit asset (liability) to be recognised		 (f000s)
1,861
2153
(292)
(292)		 (E000s)
1,856
2,1&0
(324)
(324)

KEYASSUMPTI ONS
31March 2022 31March 2020
Discount rate %per annum
2.79		 %per annum
2,38
Inflation
(RPI)		 3.59 2.63
Inflation
(CPI}		 3.20 1.63
Salary Growth 4.20 2.63
Allowance for commutation ofpension for cash at 75%of 75%of
retirement maximum maximum
allowance allowance
The mortality assumptions adopted at31March 2021imply the following life expectancies:
Life expectancy at age 65
(Years}
Male retiring in 2022 21.1
Female retiring in 2022 23.7
Male retiring
in		 2042 22.4
Female retiring in 2042 25.2

31March 2022
(E000s)
Defined benefit obligation at start ofperiod 2,285
Expenses 4
Interest expense 47
Actuarial
losses (gains) due to		 scheme experience 200
Actuarial
losses {gains) due to		 changes in demographic assumptions (33)
Actuarial
losses (gains) due to		 changes in financial assumptions (160)
Benefits paid and expenses (190)
Defined benefit obligation at end of period 2,153
ECONCILIATION
OF OPENING		 AND CLOSING BALANCES OF THE FAIR VALUE OF PLAN ASSE
31March 2022
(E000s)
Fair value of plan assets at start ofperiod 1,856
Interest Income 38
Experience
on plan assets (excluding amounts		 included in interest 98
income) —gain/(loss)
Contributions
by employer		 59
Benefits paid and expenses (190)
Fair value ofplan assets at end ofperiod 1,861
31March 2022
(E000s)
Expenses
Net interest expenses
Defined benefit costs recognised in Statement of Comprehensive 13
Income (SoCI)

31March 2021
Experience on plan assets (excluding amounts
included
in net		 (6000s)
interest cost) - gain (loss) 98
Experience gains and losses arising on the plan liabilities -gain (loss)
Effects ofchanges
in the demographic
assumptions
underlying
the
present value ofthe defined benefit obligation -gain (loss)
Effects ofchanges
in the fina ncia Iassumptions
underlying
the
present value ofthe defined benefit obligation -gain (loss)
Total actuarial gains and losses (before restriction
due tosome of
the surplus not being recognisable) -gain (loss)
Effects ofchanges in the amount ofsurplus that is not recoverable		 (200)
33
160
(excluding amounts
included
in net interest cost)-gain (loss)
Tote Iamount
recognised
in Other Comprehensive
Income - gain
(loss		 91
31March 2022 31March 2021
Absolute Return
Alternative
Risk Premia
Cash		 (E000s)
75
61
6		 (K000s)
102
70
Corporate
Bond Fund
Credit Relative Value
Currency
Hedging		 124
62
7		 110
58
Distressed Opportunities
Emerging
Markets Debt
Global Equity
High Yield
Infrastructure
Insurance-Linked
Secuiities
Liability Driven Investment
Liquid credit		 67
54
357
16
133
43
519		 54
75
296
56
124
45
471
Long Lease Property
Net Current Assets
Opportunistic
Credit
Opportunistic
llliquld
Credit
Private Debt
Property
Risk Sharing
Secured income
Totall assets		 48
5
(7)
63
48
50
61
69
1,861		 22
36
11
51
47
44
39
68
77
1WB

Total Total
2022 2021
E E
202,000 324,DDD
Total
Unrestricted Restricted funds
funds funds 2021
E E E
Income and endowments from:
Donations
and legacies		 641 641
Charitable
activities		 758,667 100,174 858,841
Investment
income		 1,471 1,471
Other income 6,016 6,016
Trading subsidiary income 17,298 17,298
Total income and endowments 784,093 100,174 884,267
Expenditure
on:
Charitable
activities		 552,335 100,174 652,509
Trading subsidiary's expenditure 151,910 151,910
Total expenditure 704,245 100,174 804,419
iyet income 79,848 79,848
Otfrer recognised losses:
Actuarial gains/(losses) on defined benefit
pension schemes (156,000) (156,000)
Net movement
infunds		 (76,152) (76,152)
Reconciliation ofFunds
Total funds brought forward 378,786 378,786
Total funds carried forward 302,634 302,634

Total
Unrestricted Restiicted funds
funds
f		 funds
f		 2021
f
income and endowments from:
Donations and legacies
Charitable
activities
Investment
income
Otherincome
Total income and endowments		 30,319
834,393
1,471
6,016
872,199		 100,174
100,174		 30,319
934,567
1,471
6,016
972,373
Expenditure
on:
Charitable
activities
Total expenditum		 804,023
804,023		 100,174
1M,174		 9D4,197
904,197
Net income
68,176 68,176
Other recognised losses:
Actuarial gains/(losses)
on defined benefit
pension schemes
hint movement infunds (87,824) (87,824)
Reconciliation ofFunds
Total funds brought forward
Totalfunds corried forward		 370,62D
290.796		 378,620
290,796