## TRUSTEES’ ANNUAL REPORT and UNAUDITED FINANCIAL ACCOUNTS FOR YEAR ENDED 31st MARCH 2022 ## FOOTHOLD CYMRU ## Foothold Cymru THE LORD ARTHUR RANK CENTRE, TROSTRE ROAD, LLANELLI, SA14 9RA |**OPENING STATEMENT**|**2**| |---|---| |**TRUSTEES’ ANNUAL REPORT FORYEAR ENDED 31ST MARCH 2022**|**3**| |**A.1 INTRODUCTION**|**3**| |**A.2 STRUCTURE, GOVERNANCE AND MANAGEMENT**|**4**| |**A.3. PUBLIC BENEFIT**|**7**| |**A.4. OBJECTS AND AIMS**|**7**| |**A.5. STRATEGIC OBJECTIVES, ACTIVITIES AND ACHIEVEMENTS**|**8**| |**A.6. ENSURING A FIT FOR PURPOSE INFRASTRUCTURE**|**12**| |**A.7. OUR FINANCES**|**13**| |**A.8 CHALLENGES AND FUTURE PRIORITIES**|**14**| 1 Foothold Cymru ## OPENING STATEMENT We are pleased to present Foothold Cymru’s Impact Report for 2021/22. During the year individuals, communities and society have continued to navigate the effects of the COVID19 pandemic. While the worst may in many respects be over, the pandemic continues to create challenges for families in particular those living on low incomes. There has been a horrific rise in the cost of living in the last twelve months due to many factors and this has hit households who were already struggling hard. Many of these households are now expected to pay hundreds of pounds more per year in bills – money they simply don’t have. We stand together, and alongside other charities and people experiencing poverty, to say it’s simply not right that in the sixth largest economy, globally, there are so many people, who cannot afford to put food on the table and come the winter will struggle to heat their homes. Poverty should never be normalised; accepted as a fact of life. In the face of the growing demands for our services and diminishing resources for the sector, we are sincerely grateful to the board of trustees for their continued wisdom, insight and contributions. The board remain committed to its governance role and will continue to support the relief of immediate need as well as creating just solutions to tackle the root causes of poverty. We are also delighted to report that during the year we were able to welcome four new trustees to the board, increasing numbers and diversity and giving us access to an increased range of skills, experience and knowledge. As always, on behalf of all the Trustees and the Executive Team, our thanks go out to the amazing staff and volunteers who go that extra mile to make a real difference to lives and livelihoods. We’d also like to extend our sincere thanks to our lived experience working groups, local people whose ideas and strengths drive everything we do. We never forget that local people know their community the best and that everyone has something valued and unique to contribute. To our funders we hope that this report demonstrates how we have used the generous resources that you have entrusted to us to not only respond to the cost-of-living crisis but also to continue in collaboration with local people to drive forward long-term sustainable change. We end our message on a sad note. This year we saw the death at the age of 67 of Gerald Davies our New Business Director. Gerald joined Foothold Cymru nearly 20 years ago. A valuable member of Foothold’s Senior team, he was also a friend and mentor to those that worked with him. A man of principle with a strong sense of social justice, the pain of his loss was, and still is, palpable amongst those who considered him a colleague and a friend. Gerald will be remembered by a memorial fund that is being set up in his name to carry on the philanthropic work he started in the Philippines, a place that he had hoped, on his retirement, would be his new home. ## **Foothold Cymru** ## **2022** 2 Foothold Cymru ## TRUSTEES’ ANNUAL REPORT FORYEAR ENDED 31st MARCH 2022 The Trustees are pleased to present their annual Directors’ Report together with the financial statements of the Charity for the year ending 31st March 2022. They are also prepared to meet the requirements for a Directors’ report and accounts for Companies Act purposes. The Charity Commission entered the Company onto the Register of Charities with the Registered Charity Number 1188696 in March 2020. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) as amended for accounting periods from 1 January 2016. ## A.1 Introduction Foothold Cymru is a social justice organisation. Established 30 years ago, our vision is to create strong, cohesive communities where individuals have the power to thrive and not just survive. To do this we support people to address both the causes and symptoms of poverty and inequality by designing our services with, not for, individuals and communities most affected by these issues, so they have the skills to overcome challenges and develop resilience. Our work is broken down into three areas of activity as outlined below: We run services and deliver projects which provide the support needed to promote our strategic objectives, i.e. we help people to ‘live well’, ‘learn well’ and ‘work well’. Similar themes underpin all of our projects and we work across four key areas: - **Food Resilience and Growing -** we aim to build food resilience in the community, tackling the immediate needs of families who are struggling to put food on the table and helping them to develop the skills that will enable them to have a more sustainable and secure access to food in the future. - **Zero Waste Hub -** we aim to help people to tackle the rising costs of living by encouraging recycling, upcycling, sharing and exchanging, giving members ways to reduce household costs and maximise hard-pressed family incomes. This also helps to reduce waste, having a positive environmental impact too. - **Education, Training and Employability –** we aim to provide socially and economically disadvantaged people with the opportunities to develop the knowledge, skills and competencies required for independent living and for the labour market, by providing education, training and work experience opportunities. 3 Foothold Cymru - **Community Capacity Building –** we aim to bring the community together to share with and support each other through our volunteering and befriending projects. We also aim to develop the capacity of individuals to contribute and empower them to put their skills, experience and knowledge to good use for the benefit of the community. This work is underpinned by our recognition that the solutions, and the skills to put them in place, are often to be found in the lived experiences and understanding of the people and communities affected. Our recognition finds expression in projects that develop the capacity of individuals to contribute and our determination to put co-production at the heart of all our work. The above objectives and activities reflect the Charity’s values, which are: - Community: strong communities as loci for mutual support and the realisation of individual potential. - Education: both formal and informal, as a means by which individual potential can be realised. - Human enterprise and endeavour: as the drivers for individuals and communities to address the challenges they face. - Sustainable development: through which the security and wellbeing of future generations are protected by the responsible practices and use of resources of the current generation. - Justice: driven by tackling entrenched social inequalities and ensuring that those who are traditionally under-represented in society have a strong voice in how our society is run. ## A.2 Structure, Governance and Management Foothold Cymru is a Registered Charity (number: 1188696). The liability of Trustees in limited to a sum not exceeding £10. As set out in the Articles of Association, all Trustees and designated officers, including the Chair, are appointed at the AGM. The term of office for Trustees is initially three years, with the possibility of ongoing renewal. In appointing new Trustees, attention is paid to the need to have a balance of representation and diversity, including gender, age, ethnicity, disability, and sexuality. The Trustee Board meets no less than four times in each financial year. We are extremely proud of the progress we have made during the last year to expand and diversify the composition of the board. ## A.2.1. Functions of the Board The Board of Trustees fulfils the following functions: - To have control of the Charity and its property and funds. - To have responsibility for the Charity’s overall governance and strategic direction. - • To develop the aims, objectives and organisational goals in accordance with the legal and regulatory framework of the sector and in line with the Charity’s governing document, continually striving for best practice in governance. - To uphold the fiduciary duty invested in the position, undertaking such duties in a way that adds to public confidence and trust. - To interview, appoint and monitor the work and activities of senior paid staff. All members of the Board of Trustees are required to sign a Code of Conduct Declaration and Register of Interest. 4 Foothold Cymru ## A.2.2. Main Responsibilities of the Board - Managing organisational performance and risk – developing and reviewing the organisation’s strategy, objectives, performance, statutory compliance and risk, continuously, ensuring the measurement of our impact. - Leadership and strategy – leading the development of the organisation’s vision, mission, values and strategic direction. - Strategic planning and implementation – agreeing coherent, strategic plans and timetables, monitoring performance and reviewing outcomes and impact. - Communication – promoting the work of the organisation to a variety of external partners, stakeholders and audiences. - Equality and diversity – championing equality and diversity in everything that the organisation does, particularly in the context of making people matter and working with some of the most disadvantaged people in society. - Safeguarding – monitoring the organisation’s conduct to ensure that safeguarding standards are maintained. ## A.2.3. Induction and Training of New Trustees New Trustees receive an induction pack containing the following: - Declaration to act as a Trustee. - Terms of Reference. - Code of Conduct. - Equal Opportunities monitoring form. - Declaration of Interest Form. - Skills and Knowledge Audit. - Charity Commission CC3 document. - Responsibilities of Trustees. - Memorandum and Articles of Association. - Annual Report and Accounts. - Information regarding Trustee Board meetings ## A.2.4. Related Parties All interests are required to be declared and signed in the Trustee’s Declaration of Interests pro-forma as required under the Charity’s Articles of Association and Conflict of Interests Policy. A conflict-of-interest register is kept and updated annually or when appropriate. In addition, all Trustees are required to declare any interest pertinent to the agenda at all Board Meetings. ## A.2.5. Organisational Structure The Board of Trustees administers the Charity. In so doing, it meets quarterly, with two committees reporting to it: namely The Finance, Risk, Audit and HR Committee and the Governance & Operational Performance Committee. Both committees have the authority to form task and finish groups and sub groups in furtherance of its work. A Chief Executive Officer (CEO) is appointed by the Trustees to oversee the Charity’s dayto-day operations. To facilitate effective operations, the CEO has delegated authority, within terms of delegation approved by the Board, for operational matters including finance, employment and performance related activities within the core services. The Board of Trustees has oversight of financial matters through reports to each meeting. The Board of Trustees may amend these powers from time to time. The CEO is supported 5 Foothold Cymru by a Deputy Chief Executive, with Project Co-ordinators taking operational responsibility for the successful delivery of the Charity’s various projects and services. A Finance Manager is responsible for administering the Charity’s accounts. Business development is undertaken by a New Business Manager, who combines this role with overseeing and quality assuring the Charity’s training and education provision. During the year the Charity has employed an average of 22 members of staff. As Trustees we are committed to transparency in our work and include staff in our decisions and as such we operate an ‘open door’ policy where staff are encouraged to ask questions about our activities, strategy, performance and current initiatives. We continuously interact and communicate with staff through committees, meetings, working groups and day to day management. We also convey information regularly via internal publication of our meeting papers, minutes and actions. The charity is fortunate to have a number of committed and inspirational volunteers. Over the course of 2021/22 we have had the support of 52 volunteers. The skills and knowledge of our volunteers is a huge asset to the charity, and we have over the recent past used their experience to improve our volunteer management programme to make it as impactful as possible. ## A.2.6. Policies and Procedures The conduct of the Charity and our range of activities are guided by a comprehensive set of policies and procedures to ensure that its governance, financial management, security, management and operation are in keeping with best practice. All staff are aware of their responsibilities in relation to these policies, together with the expectation that they adhere to them in their day-to-day working. All policies and procedures are reviewed by the Board of Trustees on an annual basis, unless legislative change dictates otherwise, or in the event of an incident that gives rise to a need for review of the provisions, interpretation and implementation of a policy. ## A.2.7. Safeguarding As a Charity working with vulnerable people of all ages, we take our responsibilities with regards safeguarding very seriously. This includes having well-established systems and processes to ensure that the safety and interests of those concerned are protected at all times. These include, but are not limited to, a Child Protection and Safeguarding Policy and a Safeguarding Adults at Risk Policy. All Trustees and staff undergo the appropriate level of Disclosure and Barring Scheme checks upon appointment. All staff undergo comprehensive safeguarding training on an annual basis and are aware of the various forms of abuse that might occur and how these might manifest themselves, as well as the procedures to be adopted where these are suspected. We publish an annual safeguarding report which reviews our work over the previous year and sets out our action plan for the coming year. Policies set out clear systems for reporting suspected /actual cases of abuse, and their investigation and reporting in an appropriate manner. ## A.2.8. Risk Management The Trustees believe that they have identified the major risks to which the charity is exposed and how these risks can be mitigated. This has been aided by a robust risk management process. The process identifies the types of risks the Charity faces, prioritises them in terms of likelihood of occurrence and potential impact, identifies the means of managing these risks and monitors how they are managed. The risk register is reviewed quarterly, with relevant exemption reports presented to the Board. Trustees review the 6 Foothold Cymru adequacy of protection against these risks and, where this appears insufficient, put in place appropriate procedures to mitigate them. The biggest risk for the Charity continues to be our over-reliance on short-term and limited funding at a time when the demand for our services grows. Therefore, an important strand of the Board’s strategy is to continue to demonstrate the Charity’s ability to provide added value as an organisation, whilst simultaneously demonstrating excellent outcomes and impact. At the same time, the organisation looks to expand its income streams and look for new sources of growth. ## A.3. Public Benefit As required by the Charities Act 2011, the Charity Commission for England and Wales issued its general guidance on the criteria it will use to determine whether a charity provides public benefit. The Board of Trustees has considered the relevant guidance and is satisfied that the organisation provides considerable public benefit, as demonstrated in this report. We have referred to the guidance when reviewing our purpose and mission and in planning future activities. In particular, consideration is given to how planned future activities will contribute to the delivery of public benefit. Thus, development activities and proposals for funding applications are presented to Trustees for approval based on their ability meet this requirement. In making their decisions, Trustees assure themselves that all proposals target members of the community who are experiencing social exclusion on the basis of one or more of the factors identified or are at risk of doing so. At the same time, Trustees ensure that the outcomes of the Charity’s work, and the public benefits that derive from it are demonstrable through qualitative, as well as quantitative research methodologies. Furthermore, Trustees assure themselves that no potential barriers to participation by the target groups exist, and that issues of equality and diversity are adhered to. ## A.4. Objects and Aims The Charity’s objects are to develop the capacity and skills of members of socially and economically disadvantaged communities of Wales in such a way that they are better able to identify, and help meet, their needs and to participate more fully in society, in particular but not exclusively by: a) equipping disadvantaged or otherwise excluded people with the skills and competencies required to take responsibility for identifying and meeting their needs and those of the community; b) the delivery of formal, informal and community education programmes that provide socially and economically disadvantaged people opportunities to gain nationally recognised qualifications and / or develop the knowledge, skills and competencies required for independent living and the labour market; c) the promotion, provision and facilitation of volunteering, training and work experience opportunities to unemployed or underemployed people who are disadvantaged in the labour market. In addition to any other powers it may have, the Charity has the following powers in order to further the Objects (but not for any other purpose): a) to raise funds. In doing so, the Charity must not undertake any taxable permanent trading activity and must comply with any relevant statutory regulations; 7 Foothold Cymru b) to buy, take on lease or in exchange, hire or otherwise acquire any property and to maintain and equip it for use; c) to sell, lease or otherwise dispose of all or any part of the property belonging to the Charity. In exercising this power, the Charity must comply as appropriate with sections 117 and 122 of the Charities Act 2011; d) to borrow money and to charge the whole or any part of the property belonging to the Charity as security for repayment of the money borrowed. The Charity must comply as appropriate with sections 124 – 126 of the Charities Act 2011 if it wishes to mortgage land; e) to co-operate with other charities, voluntary bodies and statutory authorities and to exchange information and advice with them; f) to establish or support any charitable trusts, associations or institutions formed for any of the charitable purposes included in the Objects; g) to acquire, merge with or to enter into any partnership or joint venture arrangement with any other charity; h) to set aside income as a reserve against future expenditure but only in accordance with a written policy about reserves; i) to employ and remunerate such staff as are necessary for carrying out the work of the Charity. The Charity may employ or remunerate a Director only to the extent it is permitted to do so by article 10 and provided it complies with the conditions in that clause; j) to: i) deposit or invest funds; ii) employ a professional fund-manager; and iii) arrange for the investments or other property of the Charity to be held in the name of a nominee; in the same manner and subject to the same conditions as the trustees of a trust are permitted to do by the Trustee Act 2000; k) to provide indemnity insurance for the Directors in accordance with, and subject to the conditions in, section 189 of the Charities Act 2011; l) to pay out of the funds of the Charity the costs of forming and registering the Charity both as a company and as a charity; m)to do all such other lawful things as are necessary for the achievement of the Objects. ## A.5. Strategic Objectives, Activities and Achievements This year saw the second year of our three-year strategy 2020-2023 with the following strategic aims identified by the Trustees: 8 Foothold Cymru - Continue to put people in the lead; designing our services with, not for, individuals and communities most affected by poverty, so together we create sustainable solutions. - Deliver social, economic and environmental impacts that last; empowering individuals and communities to challenge poverty and social injustice. Our Theory of Change sets out the change we want to see. - Ensuring a fit for purpose organisation that allows us to function effectively and efficiently in order to deliver on our mission and strategic aims. - Maintaining the financial health of the organisation. ## A.5.1. Putting People in the Lead We recognise that the solutions to the challenges faced by communities, and the skills to put them in place, are often found in the lived experiences and understanding of the people and communities affected. We therefore place co-production at the heart of our approach, by giving equal sharing of power, agency and decision making with all those affected by a project, and with the local people, organisations and systems which support them. During 2021/22 this work has continued as we have collaborated with participants, volunteers and other stakeholders co-designing, co-delivering and co-evaluating our projects and services. We also recognise that building capacity within communities makes them more able to adapt and deal with future challenges, creating a more sustained and long-lasting positive impact. Our projects aim to develop the capacity of individuals to contribute and empower them to put their skills, experience and knowledge to good use for the benefit of the community. This will help communities to develop and manage their own solutions to the challenges they face. ## A.5.2. Delivering Economic, Social and Environmental Impact During the year we have supported 2497 people across our various services. Specifically: - Food Resilience: 2116 - Food Growing: 177 - Zero Waste Hub: 432 - Volunteering: 43 - Befriending: 44 - Youth Social Action: 79 - Education and Training: 493 - Employability: 61 To understand our impact, we conducted surveys with a sample of 20% of the people supported across our services this year and used the data to inform the writing of our 2021/22 Impact Report. This work was supported by focus groups and project specific monitoring and evaluation. Foothold Cymru’s impact is in five key areas: (1) Reduced Household Expenses; (2) Reduced Waste; (3) Developed Skills and Experience; (4) Improved Health and Wellbeing; (5) Developed Community Cohesion, Capacity and Resilience. ## A.5.2.1. Reduced Household Expenses Key achievements: - £550,160 in household savings across all members. 9 Foothold Cymru - £27.41 saved an average per week on members’ weekly shop - 96% of food store users said the store helped them to budget. - 72% of Zero Waste Hub members found the support had helped their money to go further; saving an average £461 per household during the year. The rising cost of living is making it difficult for people to meet their basic needs. Many of our members were already struggling to make ends meet before the soaring energy and food prices put further pressure on family incomes. Across our services we support people to make their money go further and to reduce their household expenses to relieve the pressure on their hard-pressed family incomes. 57% of members across all services found the support had helped their money to go further. Our Community Food Store provides members with the opportunity to buy a variety of food at a reduced rate from the retail price, helping family budgets to stretch further and ensuring they can access enough food to get by. On average, families saved £27.41 per week on their weekly shop and the majority of food store users also found the shop beneficial in helping them to budget. The services within the Zero Waste Hub help people to reduce waste but also to reduce household expenditure, by encouraging people, and giving them the opportunity, to fix, recycle, re-use, upcycle and share household items. Services such as our repair café, clothes exchange and Library of Things all provide the opportunity to reduce waste, share with others and reduce household expenditure. Members were grateful for the opportunity to share with others and were pleased to gain the knowledge and skills that would enable them to make their money go further. An important part of our education, training and employability support is in helping people to develop essential skills that will not only prepare them for the labour market, but also for independent living. One component of this is providing them with money management and teaching them how to budget. Many members referenced the importance of these new budgeting skills on helping them to keep on top of their household finances. Combined, our services helped members across the community to save £500,160. ## A.5.2.2. Reduced Waste Key achievements: - 85% of food store users made changes to reduce their food waste - 89% of members who used the Zero Waste Hub said they had learnt new ways to reduce waste. - 41 tonnes of waste was saved from landfill. At Foothold Cymru, we recognise that the that continued disregard for our environment is not sustainable. Across our projects and services, we support people to reduce their household waste, not only to reduce their household expenditure but also to reduce the waste sent to landfill and have a positive impact on the environment. In total, 41 tonnes of waste was saved from landfill as a result of our services. The education, training and advice provided around waste minimisation, including the food minimisation workshops, has helped families to embed habits to reduce waste, having a positive impact on their finances and on the environment. 56% of members across all services said the support had helped them to reduce waste and 85% of food store users reported making changes to reduce their food waste. 10 Foothold Cymru Members have also developed their knowledge on how to recycle household items, they have had the opportunity to fix and upcycle them, and they have been encouraged to share and donate items that they no longer need, helping the community as a whole to reduce waste. The emphasis on waste reduction in a positive light also helps to reduce the stigma of acquiring ‘pre-loved’ items as a negative result of low household income. ## A.5.2.3. Developed Skills and Experience Key achievements: - 84% of members said they learnt new skills and had new experiences - 55 people moved into work Across our projects and services, people across the community have had the opportunity to develop their skills and gain experiences which not only prepare them for the labour market, but also develop their essential skills for life, such as money management. 84% of members said they have learnt new skills and had new experiences. Crucially, we have provided people with the opportunity to get out of their comfort zone, whilst also feeling supported and valued. Many of the people we work with suffer from a lack of opportunity and this can hold them back. By providing people with the opportunity to develop skills, gain work experience and grow their confidence, they are in a much stronger position to go on to work and live a more fulfilled life. 55 people were successful in gaining employment following the education and employability training. ## A.5.2.4. Improved Health and Wellbeing Key achievements: - 67% of people said the support provided helped to bring about changes in their mental wellbeing - 73% of people who attended the cookery course said they were eating more healthily as a result of the course - 98% of Food Store users said there were health benefits to having the opportunity to choose a varied food basket. The support provided to help people to reduce their household expenditure had an overwhelmingly positive impact on members’ mental wellbeing; 67% of people said the support provided had helped to positively change their mental wellbeing. There is a clear link between reduced food insecurity and improvements in mental wellbeing, due to the reduced financial pressures and stress associated with food insecurity. Importantly, the Food Store moves away from emergency food boxes and the crisis support offered by Food banks. Feedback from families highlights how they value the choice offered by the stores so that it feels like shopping in a normal grocery shop. They value the fact that they can make a small financial contribution to the food baskets. This restoration of dignity also helps to promote positive mental health. It is clear by bringing the community together, our support has helped people to feel more connected, valued, understood and accepted. Many members talked about how the increased connection with the community had given them a motivation to leave the house and get involved. All of these improvements in community connectedness bring about positive changes in mental wellbeing, especially for individuals who otherwise feel socially isolated. 11 Foothold Cymru ## A.5.2.5. Developed Community Cohesion, Capacity and Resilience - 59% said they feel more connected to their community - 87% connected with new people and made new friends - 88% feel there are more people they can go to if you if they need help Communities are becoming increasingly disconnected, and people are often battling with their challenges in isolation. But there is power in community cohesion, bringing people together to provide support to one another and address collective challenges. By bringing people together, developing community cohesion and capacity, communities become more resilient – they feel better connected, more together, stronger, able to weather storms through collective action and support. This leaves a legacy beyond the project support and makes communities more resilient. Members overwhelmingly reported positive changes in community connectedness as a result of Foothold Cymru’s work; 59% said they feel more connected to their community, 87% connected with new people and made new friends and 88% said they feel there are more people they can go to if they need help. All of these are clear indicators that the communities we are working with are becoming more connected. Our members described the benefits of Foothold Cymru in bringing people together, giving them the opportunity to meet people they wouldn’t usually get to meet, such as the intergenerational connections between pensioners and young people, make new friends, learn from others, share with and help other people. Many members talked about how the support they had received gave them the opportunity to help others and that they now feel part of the community. The feeling of being part of something, belonging to a community, feeling valued, understood and accepted all have a positive impact on mental wellbeing and can translate into wider benefits, such as greater economic security. ## A.6. Ensuring a Fit for Purpose Infrastructure Last year we made significant progress in developing our organisational infrastructure, including in the areas of: Partnership and Collaborative Working, Staff Development and Health and Safety. We have continued to build on these developments this year. We have also made significant progress on our Monitoring and Evaluation practices: This year we reviewed our data collection practices and created a new Evaluation Framework, ensuring that our data collection tools are consistent with the outcomes we want to measure on our Theory of Change. In addition to an organisation-wide framework, we have also developed project-specific Theory of Change with relevant evaluation plan, in line with the overarching evaluation framework, which will further enhance our datacollection practices moving forwards. Adopting this new framework will enable us to: Consistently measure and report on impact across all projects, by following a consistent and robust approach, which is aligned to our organisational objectives. Make informed changes to existing projects and design new projects that meet the changing needs of the community. Share our learning with key stakeholders, including funders, partners and those organisations that are equally passionate about making a real difference to the lives and livelihoods of people and communities. 12 Foothold Cymru ## A.7. Our Finances |A.7. Our Finances|| |---|---| |**Our Income 2021/22**|| |**Income- £904,795**|| |Projects (GrantFunding)/Contracts|86%| |Donations|3%| |Investment Income|12%| |**How we spent the money we received in**
**2021/22 - £828,883**|| |---|---| |**Expenditure**|| |Project Service Delivery|88%| |General Administration/Governance|10%| |Fundraising|2%| |**Our Reserves**|| |---|---| |Unrestricted|592,745| |Restricted|357,210| |Total Reserves|949,955| ## A.7.1. Reserves and Reserves Policy In formulating this policy Foothold Cymru has followed the Charity Commission guidelines to developing a reserves policy. Namely, it has: - Defined the nature of charitable reserves held. - Identified functional assets. - Understood the financial impact of risk. - Reviewed its sources of income. - Looked at future plans and commitments. ## _**Restricted Funds**_ Foothold Cymru delivers upward of a dozen charitable or grant funded projects. These projects are funded via restricted funds and are for the sole use of designated projects. ## _**Unrestricted Funds**_ Typically, these funds are expendable at the discretion of the Trustees in furtherance of the charity’s objects and may be designated for a particular project or purpose. The majority of Foothold Cymru’s unrestricted funds are held in the form of fixed assets which earn an income for the charity to use for its charitable activities. On becoming a Charity in 2020, the Board of Trustees reviewed the charity’s need for free reserves in line with the guidance issued by the Charity Commission. The Reserves Policy, approved in March 2020, and reviewed in 2021 thus targets free reserves to be maintained within a range of three to six months’ unrestricted operational expenditure. The trustees aim to work towards achieving this goal over the next five years. 13 Foothold Cymru ## A.8 Challenges and Future Priorities Each year, within the remit of our Strategic Plan 2020-2023, we set key strategic priorities for the new financial year to further strengthen our ability to withstand pressures and maximise opportunities. In late 2021 our Board of Trustees scrutinised our Strategic Business Plan and considered the lessons of the past year. The review highlighted a number of challenges: - The impact of the cost-of-living crisis on the mental wellbeing of our beneficiaries - The increase in demand for our services in contrast to the diminishing funding that is available - The need to address climate change at a local level so we remain within our environmental limits. Our strategic objectives remain unchanged – specifically: - Continue to put people in the lead; designing our services with, not for, individuals and communities most affected by poverty, so together we create lasting solutions. - Deliver social, economic and environmental impacts that last; empowering individuals and communities to challenge poverty. Our Theory of Change sets out the journey. - Ensuring a fit for purpose organisation that allows us to function effectively and efficiently in order to deliver on our mission and strategic aims. - Maintaining the financial health of the organisation. Activities to deliver these objectives during 2022/23 include: - **Impact:** developing and delivering services that put people and their futures at the heart of what we do enabling people to thrive and not simply survive. - **Co-production:** continuing to work closely with communities to identify their perceived needs and co-designing and co-delivering projects that address these priorities. - **Financial Stability:** continuing to diversify income streams to include corporate sponsorship, social investment and community giving in addition to grants and contracts. - **Measuring Change:** ensuring that our monitoring and evaluation systems and procedures continue to be sufficiently robust to demonstrate the effectiveness of our work and to evidence their longer-term impacts and additionality. - **Partnerships:** developing mutually beneficial partnerships to develop innovative services that meet the needs of individuals and communities. - **People:** continuing to develop staff to ensure that they are best able to serve the communities with which they work. 14 Foothold Cymru REGISIERED COMPANY NIIMBER: 02633128 (Engknnd gDd Wales) REGISTERED CHARITY NU.MBER: 1188696 TRusfELS' REPORT C1wtes & Co Ch•rter¢d Ccrtified Accollnlu 3 Munay Street Llanelli SA15 IAQ Pize Trnthts. Report IA(kptndeDt Ex*wiN¢rfi Report St•teyThen¢ ofFiD•Dti*l Aetlvhles B*kntste Sheet 4 ts 5 C*%h Flow Ststernont Notu to th¢ Fln•n¢lal Statements 7 to 19 Detslled St*ten*ttt or￿￿nd•1 Artivi¢i 20 FOOThOLD CYMRU TRusfEES' REPORT FOR THE Y R Ef*DED 31 MARCH 21122 Tbe Trusie¢s Are pleased to present their am]ual Dir¢aors' Report iogether with the financial Statema￿ of the Charity foT the year ¢nding 3 1st Nlar¢h 2022. Thry are a150 PTepar¢d ￿ nKet the r¢wirerncnts for t direciors. report and a¢¢ourJts for Companics Act Pry￿. The Charity Commission entered the Company onto th¢ R¢￿Ster of Charities with the R¢gi51ered Chwity Number 1188696 in March 2020. Th¢ financial stsiemcnts compty with the C1)wities Art 2011. the Cornpontes Act 2006. the Mernorandum and Articl of AsJo¢iation. and Ac¢ountin8 and Reporting by Charities.. Siatemeni of Recommejjded Practice applicable to ¢h8riti¢5 preparing their act4)unts in acCorda￿e with the FiDan¢ial Reporting Standard wlicDble iti the UK and Republic of Ireland {FRS 102) as amended for aecoutytinB periods from l JaDuary 2016. STRucfuRE. GOVERNANCE AND MANAGEMENT Governing doeumeDt The charity is wntrolltd by irs goYernin8 do¢umo a deed of tru#. •nd o)Nitutes 4 limi*d eompany, lirnited by 8uirant¢¢, as defined by the CornpBniK Act 2006. REFERF.NCL AIYD ADMINisfRATIVE DETAIIS Registered Company ThuTr)ber 0263.1128 IEn8land and Wales) RetsteTed Ck•rfty Dumbtr 1188696 Regislertd office The Lord Arthur Rank Centr¢ Trostre Rohd LIAnelli Carn￿rthensh1re SA149RA Thutets F S Roberts J Lxwis G Davi¢s (resi8n¢d 14.9.21) D J Powell P Freeman Revcrcnd J E Phillips Mr5 K L Owen {gppoint¢d 16.3.22) P R {appoin*d 15.11.21) Ms B Wiffen Iippointed 22.4.22) Mrs S Kay5 (appointed 29.522) CompAny Ster¢¢ary Mrs J M¢)rgan Ind*p¢ndent Ex•mdD•r Charles & Co Chartcrcd Certified AccoyntAnts 3 Mumy Strect Camjarthenshire SA15 IAQ Approved by orderof the board of trustee$ on 27 (kxober2022 gnd on its bcknlf by.. F S Roberts- TruJt¢¢ r*E RT Illdependont report tg the trllJteeJ of FoDthold etke COJllp•ty) I report to th¢ charity tr￿te£S om my examitiaiion of the accounts of the Comparty ftsrthe yeaT ended 31 Mwrh 2022. lie8poMslbilltles *ttd b*sts •freport As thc charitys tTU5tecs of the Company land aLw its direckns for the PUTWMts of company18w) you are responsible for the pttp8rntion of ihe *¢wunts in with the rtquirements of the Companies 2006 {Ihe 21)06 A¢t). Having satisfied myself that the •¢counts of the Company are Th)t required io be audiid ￿der Part 16 of th¢ 2006 Act and are eliBible for irtder*ndent exsrninatiOlI. I re￿rt in rtspect of my examI￿on of yow charitys accounts &% carri out ￿der section 143 of the Charities Act 2011 {Ihe 2011 Arf). In caThyin8 out my examination I have followrd the Direaions Biven by the Clwity Comrni#ion under section 145(5) (b) ofthe 2011 kn. Indtpendemt ex*miller'i statemtht Sincc your charity's gross income exceeded £250,ofA) your fAarniner rnu￿ be a member of 2 list¢d body. l confinn that l am qualificd io undertth the examination l am a rcgistcrcd rnenthcr of A.C.CA. which 15 one of the list¢d bodiu. I have completed tlly examiD8tiOJL I CLthm th* no m•tt¢rs hv¢ to my altention in *ith the exwnination giving me ¢wae to ￿lieVe. ac¢ouniin¥ records wtre noi kept in respe¢t of the Company u required by se¢tion 386 of the 2006 A¢t: or the x¢ounts do ￿ a¢¢ord with those records. or the do not Comply with the 1¢w￿ting requiremcnts of section 396 of the 21106 Ad other than any requirement thai the Rive a fAir view thich is ￿)t * mitter ¢oMid¢Ted ￿ pArt of ￿ iThJependeM examinatio￿ or the a¢¢ounts ￿ve not E*¢n pffpared in 8¢¢ord4nce the meth￿$ and prin¢ipl¢s of the Statemen¢ of Reeornmcnded Practice for xcountin8 and TCPJrtin8 by charities (appli¢ablc lo chzrities preparin8 thcir accoun ill 8c¢ordorK¢ with th¢ Fin4n¢ial Re¢M)rting Stsndard applithle in th¢ UK ond R¢publi¢ of Ireland (FRS 102)). I have no ¢on¢ern5 and hav¢ come across ￿ other mDii¢rs in ¢onrK¢tion the eX￿￿1￿110ft io which attention should be drnwn it) this rep)rt in order to tr￿le A prc4)er ￿derSt￿rni of the be re#hed. R. A. Williams A.C.C.A. Charles & Co Chartcrcd Certified Aeeountlnts 3 Murray Str¢¢l L14nelli Ctrmgrth¢nshire SA15 IAQ 27 October 2022 Page 2 I'E 2022 To 2021 Totsl Utre5tricted Restricted Notes INCOME AND EIYDOWMEYfs FROM Donations and le￿ieS 224.446 576.020 800.466 739,153 104J29 IIM,329 118.604 328.775 576,020 904,795 857.757 EXPENDITITRE ON CharltAbk actlvltles B¢D¢fi¢iary Suppon 257.814 571.069 828.883 835,560 NET INCOME 70.961 4,951 75.912 22.197 RECONCILIATION OF FUNDS Tot*1 fund• broulht forward 521,784 352,259 874.043 851,846 TOTAL FUNDS CARRIED FORWARD 592,745 357.210 949,955 874,043 The fomi p￿t 0fth￿¢ fu￿￿la] 5tatemettts Page 3 FOOTHOIJ) CYMRU EE 2022 Totsl 2021 Totsl FIXED ASSKTS Intsn8ibl¢ wets Tongibl¢ w¢ts Investhients 10 50.916 619.920 50,916 826.920 76,374 880.669 207.000 12 670.838 207.( 877.838 957.043 CURRENf ASSETS Debtors 13 58,737 1898 58,737 153,108 10,615 103,500 150,210 61,635 150.210 211.845 114.115 CREDrroRS Anwts fallin8 due i*ithin otte ye 14 (59.422) {59,422) (7,568) NET CURRE￿ ￿￿ETs 2213 150210 152,423 106,547 TOTAL ASSETS LESS CURRE LIABILrriES 673,051 357210 1,030.261 1,063.590 cRED￿ORs Amounts falling due after more than on¢ year 15 (80J06} {80J06) (189,547) NET ASSETS 592.745 357,210 949.955 874,043 FUNDS Unrestricted fun Restri¢*d fijnds 592.74J 357210 521,784 352,259 TOTAL FUNDS 949.955 874,043 The ¢haritable ¢ornp#ny li entitled th txemwAOti from audii under Section 477 of the CompAnies Act 2006 for ihr y¢ ended 31 Ma￿￿ 2022. members h¥v¢ wt Tequired the cotnp8ny to obtain an I￿lt of its f￿￿7*1 for the ye4T ended 31 March 2022 in a¢cordanc¢ with S¢clioti 476 of the Coow8Dies Acl 2(Kl6. Th¢ Inthe$ 4¢knowledge their r¢s￿nSIbIliti¢$ for (a> ensuring that the Chariithble ¢omparty keeps 8c¢ounting reuvds th*t compty With Sections 386 and 387 of th Companics Act 2006 and (b) prep8xing financi8J ststements wlJt¢h give and fair view of the slate of 8ffair5 of the charitable cornp4ny us 8t the end of each financi81 year and of its surp1￿% or deficit for exh finBn¢i81 yctr in accord￿¢¢ with the requirements of Se¢¢ions 394 and 395 which otherwise ￿mPlY with the requirements of the Companie5 Act 2006 relatin8 to fmancial Ststern￿, so far as applicablc to th¢ clwitsbl¢ wmpany. The Tjotes form part of th¢8e fllwKtal thtemeDts continucd... co These finaticiat ststerncnts have been preptred in ac¢ordance with th¢ proi/i%ions applicable to charitable Companies subject to the small compallLCS re8ime. The fimnciai statements were approve41 by the BoArd of TrpJstee5 and authorised for ]￿le on 27 Odober 2022 and wer¢ Sigtted on its behalf by-. /• F S Roberts. The notey fonn pirt of these fina￿la1 stst¢ments F(K)THOLD 2022 2021 Cgsh flows from operating *divit C&sh gcnern*d from operntio Jnt¢res1 paid 20 119J07 (4.220) 213.721 (4.004) N¢t c&sh provided by opernting *tiVilJts 115.087 209.717 CAJh now* from lttvegliDg Kti*iti Pur¢h45¢ of fry¢d a58et inv¢sim¢iits (2) Net luJ¢d inyprovided by inve￿1￿8 ￿1vIll¢s (2) Casb flowi fronb flllaThdni •d5vttS IA)an repoyTn¢nts in y¢8r Capithl repayments in y (107,652) (l J89) {12,334) 11.579) Net ¢ash used in financing a¢tivTrli¢s (109.2411 (13.913) cha￿¥* In eash Ind eijh equiv*leNts I the reportffing perlod CAsh •Dd tAsh equfvAlents 91 the beglDnlD¥ of tbe report5n8 ptrlod 195,104 21 103.500 (92,304) C#Jh c*sh eq•lwalents It the end of tht re￿rtED# period 21 109.344 103.500 PWO OTFS TO THE FIYI ANCIAL SfATEMEliI3 FOR THE YEAR ENDED 31 MARCH 2022 ACCOUNfiNG POLICIL8 Bggxs of prqjaring tbt fJn*neiAI slatenxthts The finAn¢ial ststernents of the charitsble company. *thith is a public benefft entity wyder FRS 11)2. have been prepared in aC¢orda￿t with the Chantiu SORP (FRS 102) AcaMmtiD8 and Re￿rting by Charities.. St¥t¢m¢nt of Recomm¢nded Pra¢ti¢¢ atoli¢able to ch•riiies prep￿1￿8 their in accordance with the Financial R¢porting Standard appli¢able in the UK and Republic of Ireland (FRS 102) leffethive l January 2019),. Financia] R¢porting Standard 102 The Fina￿191 Reporting Standard applieablc in the UK and Republic of Ir¢land' 8￿1 thc Companies Ad 21x76. This is not ￿nSI$l¢￿t with wior yews. The fin**ial stat¢m¢nts havc bccn prepared under the historical cost conveniion. The ¢haritabl¢ company has taken adv4ntsge of the followitiB disclosure exemwions in pr¢paring these fina￿181 slgtemenis, as pernjitted by FRS 102 Tr FinAn¢ial Reportin8 Stat)dard applicable in the UK and Rcpublic of Ir¢lknd': the requirements of Section 7 st￿emeM of Cash Flo th¢ requirement of poTwaph 3.17ld); Ihc rcquirem¢nts of parwaphs 11.42, 11.44. 11.45. 11.47, 11.48(aXiii), 11.48(4Xiv). 11.44b) attd 11.48{c}.' the rrquirements of parn8rnphs 12.26, 12.27. 12.29(•X 1229(b) 12.29A' the requirement of p8raaraph 33.7. All income is re¢o8nised in the Ststem¢ni of FÈnancial Artivities i)nce th¢ thaTity entitlement to the fwids, 1¢ 15 probable that the incorne will be received 8ThJ th¢ amouni can be rne8sured reli¥bly. EXpeTrdi￿re Liabilities 8r¢ reco8This£d Is expu￿1￿re w *)on as there is • le8al or Constr￿live obligalion committin8 th¢ harity w that expenditur¢, it is prob￿1¢ that a ty8n$fer of C￿)nOMiC benefits will be r¢quirtd in settlement and the amunt of th¢ obligaiioth ¢4n be m¢isured rtliabjy. Exp¢ndilitrc 15 accounkd for OJL an accnwls b&si$ and been clasjified Wlder h¢¥dings th81 aggrekaie all cost relthd to the C￿e￿ory. Where ¢ost$ EanTh)t be dir¢ctly 8ttribuied to particular he•diny h•v¢ be40 ￿lO¢s1¢d w aaivities on 8 basis c4)n5iStent wilh the use of r¢sourceJ. Intsngible asjetsl iDttllortw•l property Jttiellc¢llJal property repr¢5cnts eosts in¢urred in ReseaTrh 8Dd development time knd T￿O￿T¢¢S Spent on 8entr8ting knowl¢d¥c and inforni*ion (m ncw proje forthe yetr ¢ThJed 31 March 2022 tsjr forthe yw ended 31 March 2021. srAFF COSTS 2022 2021 Wages and Salaries Sociol se¢￿ty ¢osts Other pension Costs 395.717 28.583 12,542 331,481 28.257 10.550 436,842 370288 The aver48e monthty Dumb¢r of ¢mploye¢s knrin8 the ytw was as folIows.' Management Administration Beneficiary Support Other 2022 2021 12 19 17 No employtt5 rec¢ived emolutt*nts in ex¢ess of£60,0￿. Page 9 ci)ntinued... COMPARATIVES FOR THE ￿AlEMENT OF FINANCIAL AcnvTfiES Unrestricted R¢5trided fvnd nds Totsl fimds INCOME AND ENDOWME￿3 FROM Donations atMI lega¢ies 105.523 633.630 739,153 InV￿tment income 118.604 118.604 Totsl 224.127 633,630 857.757 EXPENDrruRE ON Charitsble •c¢ivitks Bencficiary Support 228.553 7.007 835,560 NET INCOMFJ(EXPENDITURE) {4.426) 26.623 22,197 RECONCILIATION OF FUNDS Totsl fuJMlJ broyh¢ forwanl 526210 325.636 851.846 TOTAL FUNDS CARIUED FORWARD 521.784 352259 874.043 10. INTANGIBLE FIXED A&SEIS The Rexetrch and Dev¢lopmem wO¢rt&¢n by the or8anization during th¢ finaKial year 1$ developmentsl work. In litie with the mission of the orginizaiion our developmenlal •Af*rk focuse$ on tackling ￿¢1￿1 •Dd etonomie exelusion. It doei this through developin8 innovative PTojeets ￿7th suprth tndiVid￿7S to make a posi¢iv¢ s￿1*1 and C¢￿0M1¢ contrib￿lon to society ￿115¢ iTKre4ying T¢silien¢e and restoring seif-b¢li¢f. On¢e the project is developed. investrn¢nt * hin8 that Proj%￿ to matkn is sou¥ht through philonthmpic gourct8 in¢ludin¥ variow funding bodies. Developmental expenditiwe as it rtlates to each Kwjeci, is ¢letrly defined and there is * r¢aWn￿le expe¢lallon. bwd on hi¥lori¢ work and knowled8¢ orth¢ mark¢t it will lethl to phil•J)thrvpi¢ inV¢slrn￿I over abjve the dev¢loprnentsl expenditur¢. AmortiZAtion u on • 5ty8i8hi.line bui5 for ¢•th projKt over 4 Ilr¢¢-)vr r¢fl¢¢¢in8 Fwthold Cyrnru'i developmentsl wle. Review5 of devclopmcnt expeTh4itwe will tth plgce ￿ the end ol cxh accountin8 PCFiod is written olt proj¢¢t by proj¢¢¢ prior ￿ the 3 ￿ ifat any tim¢ ¢xpryMli¢we is de¢me41 Irre¢4￿￿. Pag¢ 10 continued... TANGIBLE FIXED Assrrs Thc IA)rd Arthur Footknjd E￿erprIse VillJ8t Business C¢ntre Plant and machitbery Ccntre co Ai i AprRI 2021 and 31 Marth 2022 314.290 351.750 305.630 234.821 DEPRECIATION At l April 2021 Charge foryear I￿.000 51.750 234.821 At 31 Marth 2022 151.7SO 234.821 NET BOOK VALUE Ai 31 M￿ch 2022 314290 207,fy)O 305.630 Ai 31 Much 2021 314.290 258,750 305,630 Motor vehicles CAJmpul¢r equipment rittin Tots15 COST At l April 20218nd 31 March 2022 15.041 18.699 14,819 1.262,050 DEPRECIA TION At l April 2021 ChArg¢ foryepr 15,041 16,700 1.999 14.819 381,381 53,749 At 31 March 2022 15.041 18.699 14,819 435,130 NKT BOOK VALUE At 31 Mar¢h 2022 826,920 At 31 Ma￿h 2021 880.fj69 12. FIXED A&SET JNVESTMENrs MARKET VALUE Additions NET BOOK VALUE Ai 31 MaKh 2022 Ai 31 Mareh 2021 Th¢te wer¢ no iovestrn¢nt &is¢15 outside the UK. Page i) tinued... OLD 13. DEBTORS: AMOUNI3 FAIIING DUE wrrHIN O]¥E YEAR 2022 2021 Trad¢ debtoys 58,737 10.615 14. CREDrroRS: AMOUIYTS FALLII¥G DUE W￿H1￿ ONE YEAR 2022 2021 Bank loans and overdrth {￿¢ 16) Trade ¢redilors Social security other tsx&% A¢cn*d expenses 43.764 3.595 8.979 3,084 7.504 64 59,422 7,568 cRED￿ORS. AMouNfs FALLING DUE AFIER MORE THAN Oi¥E YEAR 2022 2021 Bthk lo•n$ Ive Ax¢ 16) Other Iwns (see 16) Hire pur¢ha8e (see notr 17) Property Bonds 47,069 31.221 152.528 30.347 1.589 5,083 2.016 80,306 189.547 16. IA)ANS An #u•lysis pf th¢ Jll•tiuity of lojns is giv¢u below.. 2022 2021 Amounts fgllin8 du¢ within one yearon de￿￿￿.. Bank overdrnfts 43.764 Amounts fallin8 due betwyen Mi ind five yean: HSBC 2 HSBC Flexible Businem Lo WCVA Kesilienc¢ Fund I￿an 55.000 47.528 30.347 31221 31221 132,875 AnbJuDts h]lin8 due in mor¢ thJn fNe year5.. Repay8bl¢ by instalm¢nts'. HSBC BBL 47.069 50.1)00 Page 12 coniinued... 17. LEASING AGREEMENTS Minimum lew payTrnts under hire purchase f*ll thJe ￿ fi)Ilows." 2022 2021 Ne¢ obli8atM)ns repayabl¢." Betwe¢n onc and five y¢ars 1,589 18. MOVEME￿ IN FUNDS Net moyement in fimds At 31.3.22 At 1.421 U*reJtri¢ttd hum Gtn¢rnl fund 521.784 70,961 J91745 R¢¥tYkted ST B2B BTC STEBO YFS WUTW FF2 1.043 3.979 7.278 258.730 21,739 8.504 12218 1888) 3.033 {51.750) 10,672 (8,504) 20261 3,091 10,311 207,000 32.411 BES2 PCL WGFH T£WH svp 9.173 34.793 (9,173} 123.844) 15,005 1,944 27.957 28281 10.949 15.005 27,957 28.281 352259 4,951 357210 TOTAL FUNDS 874,043 75,912 949,95S Pag¢ 13 continu¢d... 18. mOVEmE￿r IN FUNDS. continued Nd movemeni &n fi]ttds. iticl￿ in the #s folknvs.. Incornins Rc50urccs Moverneni in funds General 328.775 (257.814) 70.961 Restvleted funds ST B2B BTC STEBO 97,509 82,492 34,533 (gS,291) (83.380) {31,500> (51.750) (143,140> (15.954} 12,218 1888) 3.033 {51,750) 10,672 (8.504) 153,812 7.450 FF2 37.549 8.698 19,820 8,699 45.827 39.598 40,033 (46.722) 132,542) (4,815) (8,699) {43.883) {11.641) 111,752) (9,173) (23,844} 15.005 RES2 PCL WGFH T£WH svp 1.944 27,957 28,281 576,020 (571.069) 4.951 TOTAL FUNDS 9)4,795 1828,8831 73,912 Comyra¢iva for Jnovem¢nt ltt fim Net verntni in fimds At 31.321 At 1.420 UDreJtricted G¢nerg] fund 526210 {4.426) 521.784 ST B2B BTC vtw STEBO YFS WUTW 5J58 13 42 .473 318.750 2.685 3.966 7236 (1.473) (60.000) 21.739 8.504 8.043 3.979 7,278 258.750 21,739 8J04 9,173 34.793 9.173 34.793 RES2 325.636 26.623 352,259 TOTAL FUNDS 851,846 22.197 874.043 Page 14 Cominued... I& MOVEME￿ IN FUNDS. ¢•thin￿l Comparative net movthnatt in fimd4 induded in the above 8T¢ as follows." JncominÉ R¢sources Movement r¢sowce5 ¢xpended in fimd5 Unreatrl¢ted General lund 224,127 (228.553) (4.426) Restrkkd ST B2B BTC 106.600 98.IM5 46,436 (103.915) (94.079) (39200) {1,473) 160,000) (28,303) 190,6821 (32,736) (31,407) (37.100) 2.685 3.966 7.236 (1,473) (60,000) STEBO B2B-C19 28.303 112.421 32,736 39.911 37,1( YFS-C19 21.739 FFI RESI 8.504 56250 (56.250) 41.035 34,793 (31,862) 9.173 34,793 633,630 1607.007) 26,623 TOTAL FUNDS 857,757 {83S.560) 22,197 Page 15 e¢)ntinued... 18. MOVEME1￿ IN FUNDS. tolltinmed A cuttelrtyegr 12 I)￿th$ and prior year 12 rnonts rombined p)sition is 18 follow): Net )vement in funds At 31.3.22 At 1.420 Unreslricted fundi Gener81 fimd 526210 66535 592,745 Restrktsd fvnd8 ST B2B BTC viw STEBO YFS RES2 PCL WGFH TZWH svp 5J58 13 42 .473 318.750 14.903 3,078 10269 (1.473) 1111,750) 32.411 10,949 15,005 20,261 3.091 10.311 207.￿0 32.411 10.949 15.IXIS 27.957 28281 27.957 28281 325,636 31.574 357.210 TOTAL FUNDS 851,U6 98.109 949.955 Page 16 ntinued... TH ci I& MOVEMENf IN FUNDS- eomtiRthed A currenl year 12 monthj and prior year 12 n￿nthS combingj J*t D￿Vement in funds. included in the aboY¢ are follo￿￿.. JTrcomiDg R¢S0￿¢S Movcm¢nt in funds Unratrlet¢d fuDd8 General fund 552.902 (486J67) 66,535 Restrirted ST B2B BTC viw STEBO B2B-C19 YFS YFSQ19 204,109 110 J37 80.969 (189.2061 (177.459) 170.700) {1.473) (111.750) (28,303) (233,a22) (32.736} {47,3611 (37.IlX)) 14.903 3,078 10.269 {1,473) (111,750) 28,303 266.233 32,736 47,361 37.IiKI 32,411 FFI FF2 56.250 {56.230) RES2 PCL 78.584 43.491 19.820 8.699 45,827 39.598 40,033 (78,$84) 2,542) (4.815) 8.699) (43.883> (11,641) (11,752) 10.949 15.005 WGFH TZWH svp 1.944 27,957 28281 ,209,650 11.178,0761 31,574 TOTAL FUNDS .762J52 (1,664.443) 98,109 19. RELATED PARTY DISCLOSURLS Ther¢ were no related party tr*tya(4ion8 for the y¢4r ¢nda 31 March 2022. P¥ge 17 continued... 211. RECONCILIATION OF Ntr INCOME TO CKSH FLOW FROM OPERATING ACTIVITIES 2022 2021 Net for the reportknt ptr tht St*temeot oCYth*tsd*l Artivitits) Adjustments for: Dtyre¢i4tiOD ¢harB¢s Iniertst paid on￿WYde¢re￿ in debtors Increase in creditors 75.912 22,197 79.207 4.220 (48.122) 8.0gY) 87,458 4.004 963 Nel provlded by opernlAo 119.307 213,721 ANALYSIS OF CASH AND CASH EQUIVAIIPUS 2022 2021 Notice deposits {leM than 3 montlK%) Overdrafts in¢lud¢d irt loans aThl ovewthth fa11ll￿ dthe within one ye 153.108 143,7641 103,300 Total cash and c4sh equivaknts 109,344 103.500 22.. ANALYSIS OF CHANGES IN DEBT At1.4.21 Cth fiow At 31.3.22 Net ¢A•h Cath si bwlk and ÉD h4nd Bank overdraft 103.SOQ 49,608 (43,764) 153,108 (43,764) 103,500 5,844 109,344 Debt Fin*rtee lefrses Debts fa]lin8 du¢ •ft¢r l ye4r (1.589) (112,875) 1.589 13,067) (185.942) (184,464) {1.478) (185.9421 (80.964) 4.366 (76,598) Pwl8 ¢oniinued... OTHOL RU E FINANCJ AR ND - Cotylin CH20 RESTRICTED FUNDS KEY Th¢ Kcy to our rewictrd fiJJds is as follows.. ST. Th¢ Big ￿ttery FuDd funding ow Stron8er To8ether projed. B2B. The Nation￿ Lottery Comthlmity Fund fimdin8 our Back 2 B￿1¢5 Project. The N￿lI￿al Lottery Cotnrnunity Fund f￿￿]ng ow Back 2 B&81¢s Proje¢t Covid 19 support. #BTC- The N81ionAJ L￿ry Community Ftmd fiuKliJig ow #Be thc Chw Proj¢a. VIW. WCVA Volw)teering in Wales fimdih8 ow Beffi Friend5 Project. STEB(> Long ttrm ofpyoputy in Steimxtheth Tery￿ Ll•nelli. YFS- The National Lottery Community Fund fi￿dIng our Y Fa5B¢d Siopa Projccl. YFS C-19. The National Lottery Community Fund r￿dIng ow Y Fa$8ed Siopa Projea Covid 19 SUPFKJfL WUTW- The Welsh GovernnKnt's IAndfill DIS￿1$ T&x c￿unItIeS SclKme. administer¢d by WCVA fi]Thling our Wise Up ￿ Waste Projea. FFI- vol￿tsry S¢Tvr¢ts Em¢r8ew Fund IVSEF). admini5tertd by WCVA fimdin8 our Food Fon¥ard I Projttt. RESI- Funded by theThird Sec￿r Resili¢n¢e Fund Wales S¢hemt, adminiM¢red by WCVA. FF2-Voluntary Services Recovery Fund (VSRF)AdrniDiM¢red by WCVA fimdin¥ ow Fwd Fonyard 2 Projeet. RES2. Fund¢d by th¢ Third Sector Recovery Fund for w￿¢$ ScTrKme, administered by WC.VA. Pcb The People's Postwde I￿try fithdiD8 ow Bts￿y Port fl￿d S*r¢. My Mind- WCVA VolumttTin8 in Walej funding our My Mind Projtrt. WGFH.Stebonheeth Community Food Htsb fithded by The Welth Gov¢rnmert. TZWH-Th¢ Welsh Governmenvj LandfRII Disp05015 T•x comm￿11¥¢1 Scheme, athninistered by WCVA fundin¥ our Toward5 7*ro Waste Proj¢¢t. SVP-VOl￿ittrin8 w￿¢5 StM¢8i¢ GrAnts 2021QI JdMinI￿ by WCVA fimdins our Strategic Volunl¢erinB Project. We would Al80 like to extend ow watitwje to Tr G*fJeld Wesron Foundttti¢)n And The Syfvia Adams Ch4ritsble Trust for wre fiindin8 receiv￿. Page 19 2022 2021 INCOME AND ENIJOWMENTS DonAtioDS *Dd ky¢) Donations Grants Ov¢rknd Recovery 23.621 776.845 6.633 660.806 71.714 .800.466 739.153 IDVtstrnent ineolthe Renis r￿e1ved 104J29 118.604 T•t*l Intomini r¢gOUn¢S 904,795 857,757 EXPENDITURE Ch•rll#bl¢ •dlvltleA Wa8es 50¢ial S¢curity Pensions Stsff Travel. Triinin8 & s￿13 Reni & Utilitie5 Insurance Beneficiary Support Projcct Running Costs Repairs & Rcnewals Cleaning &L4undry AccountsTbey Developmeni cog11 Short lease]h)Id Motor v¢hi¢les 39S.717 28.583 12,542 22,331 51.869 13.108 52,641 104,418 6.844 39,181 3,600 25,458 31,750 331.481 28257 10.550 14,991 60,780 12.937 25,304 192,018 29,884 28,828 3,600 25.458 60,000 2.¢)00 817.041 826.088 Support ¢o$ts Bank ¢h*rg Bank intere51 Bank lo￿ inl¢rtAt 2,622 769 3.451 5,468 1.941 2,063 6,842 9.472 Governallfe to Governan¢¢ Costs Totsl resou￿¢5 expended 1211,843 835.560 Net iDtoJThe 75.912 22,197 This page does not forn] pth of the financi81 sthtements Pag¢ 20