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2024-03-31-accounts

REGISTERED CHARITY NUMBER: 1190983

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR SWANSEA MAD

Bevan Buckland LLP Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA

SWANSEA MAD

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

Page
Report of the Trustees 1 to 10
Independent Examiner's Report 11
Statement of Financial Activities 12
Balance Sheet 13
Notes to the Financial Statements 14 to 21
Detailed Statement of Financial Activities 22 to 23

SWANSEA MAD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

Chair's Reflections

I am proud to be the elected Chair of the Swansea MAD Board of Trustees.

During this period we have been working to deliver our strategic plans and this report outlines some of the things we did to make progress and meet our shared goals. However this report covers one of the most challenging periods for people. Increases in household poverty, compounded by the impact of the COVID-19 pandemic and increases in the cost of living, have forced many more people into further difficulty.

I have had the privilege of spending time meeting people at Swansea MAD and listening to their experiences and as always this shapes my thinking and approach as Chair. In so many ways Swansea MAD welcomes people to access a safe space. Often over a cup of tea, we listened to people as we continue to be embedded in the community as a Community Anchor , welcoming people to share free food, hot drinks, toiletries, period products, SIM cards, data, devices and friendship.

One young man I met at Swansea MAD who had come out of prison the previous week, told me how we had provided him with ''somewhere to be welcomed, food, financial advice and support with local services''. He said, "This vital support helps people get back on their feet''.

Being at Swansea MAD really shows me how 'local' is essential. As a grassroots organisation, Swansea MAD are committed to taking action for people in our communities who are facing social distress and exclusion. Working with the community, charities like Swansea MAD are leading the way in providing relief and hope. The role that charities can make in driving change, by changing the focus of conversation for people, delivers trust. We trust in the community and they trust in us. I believe that this is how to create community togetherness and belonging.

Meeting at Board level is such a learning experience. The recruitment of Board members with varying identities and lived experience of the people we work with continues to be fundamental. The effectiveness of leadership by people with direct personal experience (viewed as an asset not a deficit) is demonstrated during our inspiring, challenging and vigorous Board meetings. Experts in their field, our Trustees strategically guide our teams and are also flexible enough to respond quickly when necessary.

I am immensely proud of the implementation of our strategy, in an exceptionally challenging year. Listening to young people and community members' experiences, including as part of our PESTLE/SWOT analysis, Team and Board Together Days, we recognised that it is imperative that the work that Swansea MAD does is understood. Through collaborative campaigns and projects which demonstrate impact and influence, we are able to mobilise, provide, inspire, advocate, unite and achieve. People are facing uncertainty and it is vital that we are part of a compassionate community. Working with others through kindness, belief and hope, we continue to co-create spaces and opportunities for people to be themselves and thrive.

The Trustees have been responsible for undertaking a review of stakeholder engagement in the context of the implementation of Swansea MAD's Strategic Plans. As part of our plans for the next year we are committed to building on our work across our priority programmes, ensuring that we meet both our long-term aims of being resilient and sustainable, and that Swansea MAD is what people want and need in the here and now. We will be pioneering improvements in delivery methods, and continuing to be agile and responsive to changing times and needs.

We are deeply grateful to all the volunteers, young people and community members, partners, funders, supporters and friends, Trustees and our superb Team who have been with us this year. Our work is not possible without you. We want to say a huge thank you for everything.

Leon Berry

Chair of Board of Trustees

Report of the Trustees for the year ending 31st March 2024

The Trustees present their annual report and financial statements of the charity for the year ended 31st March 2024 . The financial statements have been prepared in accordance with the Charity Act (2011) and the Statement of Recommended Practice: Accounting and Reporting by Charities.

About Us - Swansea MAD - Make A Difference

Vision Statement

Swansea MAD works for a fair world, in which people can be themselves and thrive!

Page 1

SWANSEA MAD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

Who we are

Swansea MAD is a local grassroots, anti-poverty, anti-racist, pro-equality, inclusive youth and community charity intolerant of discrimination and injustice.

Mission

We seek to better people's lives, by providing inclusive safe spaces for people to access services, projects and support which create a meaningful effect in their lives, bring fairness and belonging and influence change for the better.

Values

Working with integrity, transparency, authenticity and compassion, for Swansea MAD the voice of underrepresented people will always come first.

Our values are about fighting for equality and justice, providing opportunities and holding ourselves and people in power accountable to empowered communities; ensuring that they are treated with respect and dignity and not tokenised or exploited.

CEO : Charlotte Davies (she/her) July 2019 - Present

Charitable Activities and Objectives

Swansea MAD was established for the following purposes: Charity activities:

'For the prevention of poverty, advancement of social justice and equity; working with people who are marginalised by systemic oppression to dismantle structures which support discrimination, addressing barriers which communities tell us they face.'

The objectives of Swansea MAD are:

Swansea MAD exists:

(A) The Provision of Recreational and Leisure time activities provided in the interest of social welfare, designed to improve their conditions of life;

(B) Providing support and activities which develop their skills, capacity, capabilities to enable them to participate fully in society.

Structure, Governance and Management

Swansea MAD was registered as a Charitable Incorporated Organisation (CIO) on 24th August 2020 (Charity number: 1190983) with a declaration of trust outlining the administration, objects and powers of the charity.

The Trustees have formally approved arrangements to comply with the ICSA guide 'Recruitment Appointment and Induction of Charity Trustees' and convene the Nominations Sub-Committees of the charity. The Trustees have agreed to keep the skills and composition of the Trustee body and succession planning under review. The Trustees have also developed a Code of Conduct for Trustees including formal statements of roles and responsibilities and provision for the Board of Trustees' Training Plan which is updated annually, including training from Social Business Wales, Equality and Inclusion training, Safeguarding, Business/Strategic Direction/Development, Governance and Planning for the Future.

Trustees make decisions at Swansea MAD, giving 'due regard' to the Charity Commission for England and Wales' Public Benefit Guidance' when exercising any powers or duties; the public benefit requirement (PB1); running a charity (PB2); and reporting (PB3).

We are lucky enough to have a team of 13 committed, experienced professionals and a pool of volunteers.

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SWANSEA MAD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

Swansea MAD is registered with the Fundraising Regulator (the independent regulator of charitable fundraising in England, Wales and Northern Ireland).

The Board of Trustees

The role of the Trustees is to meet bi-monthly to ensure that Swansea MAD is carrying out its purposes for the public benefit; to comply with Swansea MAD’s governing document and the law; act in Swansea MAD’s best interests; manage our charity’s resources responsibly; act with reasonable care and skill; and to ensure our charity is accountable (Charity Commission CC3a).

At the bi-monthly meetings, the Trustees review all areas of Swansea MAD, ensuring that the work of the charity is effective, responsible and legal. The Board is responsible for the Vision, Performance, Policy and Strategy, Fundraising, Safeguarding, Leadership of the organisation and for robust Governance and rigorous Risk and Financial Management. The day-to-day administration of grants and the processing and handling of applications prior to consideration of relevant Sub-Committees is delegated to the CEO.

Finance and Audit Sub-Committee

The Finance and Audit Sub-Committee 's role is to examine and analyse all Finance and Auditing issues that may have an impact on Swansea MAD's ability to meet its strategic aims and objectives and to provide an essential role of risk management and governance.

Members: Chair, Vice Chair, Treasurer, Secretary, CEO and an appointed member (with Finance/Charity Governance expertise) meet monthly and report to the Board of Trustees.

Inclusive Trustee Recruitment

We are committed to being inclusive and equitable in our recruitment and selection practices in order to establish, promote and foster an organisation that is truly inclusive and have developed and implemented an Inclusive Recruitment and Selection Policy and Procedures. We strive to ensure that our Trustees are representative of the communities we work with, including recruiting people with varying identities of lived experiences, skills, perspectives and expertise.

New Trustees may be sought by open advertisement, in line with the values of Swansea MAD for equity and we work with communities to ensure that our message is shared. The ultimate decision on selection is a matter for the Trustees.

Elections for officials are annually at the AGM. The charity provides for a minimum of 6 Trustees, to a maximum of 12 Trustees (and currently has 10 Board members). On appointment, new Trustees sign a model Trustee Declaration Statement committing them to giving their time and expertise.

The induction process follows the ICSA Good Practice Guide with a formal induction programme for newly appointed Trustees, which includes an initial meeting with the Chair and the Trustees, followed by a series of short meetings with the CEO. The Welcome Pack includes a brief history of Swansea MAD, copies of Trustee Board and Sub-Committee meetings (where applicable), Trustee Role Description, Sub-Committees’ Terms of Reference, Legal Duties of a Trustee, Equal Opportunities Monitoring form, Declaration of Interest, Agenda and Minutes of AGM Meeting, Swansea MAD Strategic Plans, a copy of previous Annual Reports and Accounts, a copy of governing documents and a copy of the Charity Commission’s guidance, ‘The Essential Trustee: What you need to know’ and ‘Charities and Public Benefit’. All Trustees undertake a DBS Enhanced Disclosure.

All Trustees give their time freely and no Trustee remuneration was paid in the last year. Details of Trustee expenses are disclosed in accounts. Trustees are required to disclose all relevant interests, by completing a Conflict of Interest declaration.’

Cyber Essentials

In line with our Cyber Security and Quality Assurance Action Plans, we successfully renewed our Cyber Essentials Certification through a process of assessment, in order for Swansea MAD to protect ourselves against common online threats.

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SWANSEA MAD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

Change Advisory Board

The Change Advisory Board (CAB) is responsible for reviewing, assessing impact and approving changes relating to information and communication technology at Swansea MAD.

Members: CEO, Senior Staff Member, Data Protection Officer and an appointed member (with technical/cyber security expertise)

The Change Advisory Board meets weekly to review Normal Changes and report to the Senior Leadership Team and the Board of Trustees. This is monitored at the Finance and Audit Sub-Committee.

Change Advisory Board (CAB) purpose:

Youth and Community Work and Working in Coalition

Our work is always in coalition with young people and community members, non-judgemental and asset-based in our approach; educative, participative, expressive, inclusive and empowering. It is aligned with the Youth Work in Wales: Principles and Purposes, The Youth Work Strategy for Wales, the National Occupational Standards and the Children and Young People's National Participation Standards.

Power

As a result of deep-rooted inequality, many people are excluded from decisions that shape and can determine their lives. Our goal is for young people and the community to have genuine power at all levels in Swansea MAD and to be partners in design and delivery, directly shaping our organisation and activities. This year, young people and community members have shaped Swansea MAD's PESTLE/SWOT Analysis, Strategic Plans, policies, projects and services.

Our activist/rights-based approach amplifies the voices of young people and communities, valuing ideas, experiences and opinions and ensuring that participation approaches empower young people and communities and that people are treated with respect and dignity and not tokenised or exploited. We also empower people to participate in external consultation opportunities. Examples include the Welsh Government Child Poverty Strategy and the Independent Commission on the Constitutional Future of Wales.

We believe that Youth and Community Workers are inspirational and should be valued and respected. As part of our Leadership Research, we have explored some of the challenges for Youth and Community Workers in delivering effective Youth and Community Work. Evidence demonstrated that they should have opportunities for training and development, have a voice in decisions affecting Youth and Community Work and be paid a fair wage. This will promote more equitable routes into Youth and Community Work (including for Youth and Community Workers with varying identities and lived experiences); improving outcomes for young people and communities.

This year, Swansea MAD has facilitated leadership training for the Youth and Community sector, amplified the voices of underrepresented people and continued our commitment to being a minimum of £15 per hour organisation and advocating for fair wages.

Quality Mark for Youth Work

In December 2023, Swansea MAD were proudly awarded the Quality Mark for Youth Work (QMYW) - Bronze Level.

Administered by the Education Workforce Council (EWC), the QMYW is a national award, requiring a self-assessment against a set of quality standards and an external assessment. Swansea MAD demonstrated that we have appropriate leadership and governance, effective monitoring and evaluation processes, are safe, and act within a legal framework of policies. Swansea MAD also showed that we provide a welcoming and safe environment for young people who can access trusted and skilled staff and volunteers.

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SWANSEA MAD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

"The one word that sticks out uppermost during the assessment was how passionate you guys are about what you do. The assessors thought the way that you interact with your partners, your flexible and collegiate approach is excellent. Everyone knows about Swansea MAD and they know what you do."

- Andy Borsden, Development Officer for the Quality Mark for Youth Work in Wales.

Our Team

Swansea MAD is very much about teamwork and investing in our people is a defining feature of who we are and what we do. During this year we were lucky enough to have a Team of 13 committed, experienced professionals, 10 Trustees and a pool of Volunteers.

All members of staff, regardless of age, experience and/or role receive a minimum of £15 an hour. We are committed to facilitating a positive work/home-life balance and support people to achieve this, including defining full-time as 35 hours a week, Flexible Workplace Culture and generous annual leave. Our Policies and Strategies are person-centred and progressive and the Staff, Trustees, Volunteers and community feed directly into the process.

We believe that our approach to Inclusive Recruitment and our People and Culture Strategy, Engagement, Equal Opportunities, Learning and Development, Training Opportunities, Pay, Reward and Recognition, Employer-Supported Volunteering Programme, Safe Space/Inclusive Environment, Health and Wellbeing Strategy and Leadership will allow us to continue to recruit and retain a talented, values-driven workforce. If we compassionately support and develop our people, we can bring our vision to life so that we achieve our overall shared mission together.

This year we participated in Reflective Practice sessions, Together Days and weekly Lunch and Learns and training (led by the Team, Trustees and community members and partners) including Basic British Sign Language, Leadership Training, Line Management Training, PESTLE/SWOT Analysis Team Days, Data Protection and GDPR Training, Emergency First Aid at Work (Level 3), Naloxone Training from Barod (Alcohol and Substance Use Service), Food Hygiene, Trustee Training, Sustainability and Green Washing, Equality and Inclusion Training, Safeguarding, Business Strategic Direction and Development, Governance and Planning for the Future, School of Social Entrepreneurs Trading and Sustainability (Lloyds Bank Foundation), PAT (Portable Appliance Testing) training, HMRC, Energy and Smart Energy, British Heart Foundation RevivR CPR training and People's Collection Wales Digital Heritage Station training.

Difference Made

We know that the right person-centred services can make a transformational difference for people. Swansea MAD is committed to measuring, analysing, and describing impact and we regularly report on the impact we are making. Digital, data and people-led Reporting systems are essential in the quality of our delivery and the visibility of our data. Insight gathering, proof of impact, and evaluation drives our culture of continuous improvement and evidence-based decision making.

As part of our Quality Assurance plans, we have been working to provide more in-depth data and analysis to describe our impact across all services, and the difference we are making for people. We have worked to make our processes as straightforward and transparent as possible and made improvements in the way we work with (and listen to) people; making progress towards our commitment to sharing our data clearly.

This is a key focus in our future strategy development. At the same time, we made significant progress in updating our core systems, making sure our systems are fit for the future. This will serve to increase our time and energy to devote to direct work and time spent with people .

Transformational Impact

Partnering with over 100 inspiring referral organisations and individuals, we engaged with more than 10,000 people.

Embedded in our community (on Swansea High Street) as a local Community Anchor (with networks of trusted relationships and partnerships), Swansea MAD has had a positive impact on our community by welcoming people to receive direct support and free food, hot drinks, toiletries, period products, free clothes, free printing, free SIM cards, data, devices, training, workshops, 1-2-1 support, arts, digital, free instruments, baby items, children's books and games and energy support. People in Swansea know we are here for them.

Swansea MAD are 'trusted' in our community to deliver a range of services, projects and activities at outreach venues, including schools, colleges, community centres, community groups and events.

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SWANSEA MAD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

Anti-Racist

Swansea MAD are an anti-racist organisation. Our Anti-Racism Strategy and outcomes-driven Action Plan are resourced (including time, expertise and budget), clarifying Swansea MAD's stance and values: Setting clear expectations of what we stand for as an anti-racist organisation. We always communicate the message that Swansea MAD takes a stand against racism and discrimination.

Impact and Outcomes

Community Anchor

What people achieved

How people are feeling

What people are doing now

Page 6

SWANSEA MAD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

Charity of the Year

Swansea MAD is proud to have been charity of the year for Perago , a company with expertise in user centred design, delivery and communications.

''As a company founded and based in Swansea we believe we have a responsibility to support the local economy and the people who live here. Through initiatives such as mentorship programmes, community outreach, and partnerships with local organisations such as Swansea MAD we want to create a positive impact on the broader community. We're delighted to have the opportunity to support Swansea MAD in their important work.'' - Victoria Ford, Managing Director, Perago

.... and the Swansea Arena - Swansea Arena is a 3500 capacity indoor arena in the heart of the city, with the capability to host events ranging from music, comedy, theatre and e-sports, plus conferences and events.

"Swansea MAD are a vital component of the wider creative community in Swansea, providing opportunities that are sorely needed for the youth of the region." Joe Bayliss, Head of Marketing and Communications, Swansea Arena

How we are funded

We want to achieve the greatest possible impact with our resources. We are so grateful to everyone who contributes to raising funds for our charity. We work hard to generate income to continue to invest in our vital work. Our commitment to social justice always underpins our priorities.

In 2023/24 we were able to focus our resources on continuing to provide vital support to people who need us most and opportunities to people in our communities; investing in our colleagues; and investing in our systems to make sure they are fit for the future.

We have improved the way we raise funds, including through transforming our operations, delivering new projects and programmes and fostering a fundraising culture. We received investment funding from Postcode Community Trust and Community Foundation Wales , building capacity within the charity. Lloyds Bank Foundation supported our organisational development and resilience and the implementation of our Strategic Plans.

Funding from Moondance Foundation, the Welsh Government Strategic Voluntary Youth Work Organisation Grant and UK Youth Fund: Digital Inclusion Grant (Osborne Clarke) has supported Youth and Community Work at Swansea MAD.

We received funding from Good Things Foundation , strengthening our digital inclusion projects/services for people and communities and enabling us to provide peer support and training to members of the National Digital Inclusion Network.

Partnerships with and support from Adult Learning Wales (Welsh Government Digital 2030 Capital Funding), Sky Up Digital Hub, Sustainable Tech 4 Good and People's Collection Wales have supported Capital investment and Information Technology infrastructure at Swansea MAD and enabled us to source and distribute digital devices to people experiencing device poverty.

Support from The National Databank (via The Good Things Foundation's network of community partners, in partnership with Virgin Media O2, Vodafone and Three) has enabled us to provide data SIM cards to people experiencing data poverty.

Campaigns and events at Swansea MAD were supported by British Science Association, Save the Children Great Big Green Week Children and Young People Grant, Learning and Work Institute Adult Learners' Week Innovation Fund and Meet and Code / Digit Charity.

Donations/Grants from a variety of Trusts and Foundations were raised including from Ecclesiastical Insurance UK, Gwendoline and Margaret Davies Charity, Blakemore Foundation, West Glamorgan Crimebeat, Groundworks UK / Tesco, Leeds Building Society Charitable Foundation, Barod, Perago, National Education Union, Co-op Local Community Fund, Benefact Group Movement for Good, G C Gibson Charitable Trust, The Darkley Trust, Souter Charitable Trust, Austin Bailey Foundation, Millennium Stadium Charitable Trust, Yorkshire Building Society Charitable Foundation, B&Q Foundation / Neighbourly, BNI Foundation, Ty Cerdd Inspire / Arts Council of Wales / National Lottery, Plan International UK, Delamere Dairy Foundation.

Page 7

SWANSEA MAD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

Sustainability

Our Sustainability and Environmental Strategy underpins our approach to sustainability, in the best interests of the planet, our organisation, people and communities. We align our plans with the 17 Sustainable Development Goals (SDGs) and The Ten Principles of the UN Global Compact which underpin them in relation to our responsibility. As part of our commitment, we have created and adopted a new Sustainable Food Policy/Strategy, Digital Sustainability Policy and Sustainable Technology Strategy.

Future Plans

As a charity we are looking forward to this next stage of our journey.

Strategic Goals

Goal 1

To be a resilient and sustainable charity (including the development of resources, strategies, partnerships and communications); preparing to grow/grow impact and create opportunities to better meet the needs of young people and community members, with and for young people and community members.

Goal 2

Programme development, including identifying unmet/changing need, improving processes, data collection and collation to be enabled to offer quality provision, expand and enhance delivery (including participation and asset-based working) to increase impact with and for marginalised people.

Goal 3

Demonstrate progressive leadership within the Youth and Community sector in order to professionalise and to have a wider impact on the sector, raising the voices of marginalised young people and communities.

Goal 4

Demonstrate the wider impact of non-exploitative and non-tokenistic participation of marginalised young people and communities in community, civic life and public decision-making with and for marginalised young people and communities and to the wider community (including to decision-makers) through influencing, advocacy and campaigning activities focusing on systemic structural changes.

Swansea MAD has a continuing commitment to:

A Review of Finance and Assets

The Trustees are responsible for preparing the Trustees' Report and the Financial statements in accordance with the Charity Commission, which requires the Trustees to prepare Financial Statements for each Financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period.

In preparing these financial statements, the Trustees are required to: select suitable accounting policies and apply them consistently; observe the methods and principles of the Charities SORP; make judgements and estimates that are reasonable and prudent; state whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financial statements; and; prepare that the charity will continue in business.

The Trustees are responsible for keeping records with reasonable accuracy of the financial position of the charity and enable them to ascertain to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of Swansea MAD's governing documents.

Financial position

During this year, the organisation raised income principally from grants, contracts, trusts and donations.

Page 8

SWANSEA MAD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

Swansea MAD complies with all relevant statutory and regulatory requirements and constantly monitors its performance, implementing improvements.

Reserves Statement

Swansea MAD aims to maintain free reserves in unrestricted funds at a level which equates to a minimum of 3 months reserves of unrestricted charitable expenditure and a maximum of 6 months of unrestricted charitable expenditure. The Trustees consider that this level will provide sufficient funds to respond to Strategic progression and;

(1) Contingency; (2) Working Capital (3) Cash-flow; (4) Commitment; (5) Conservation; (6) Closure.

The Board of Trustees consider that this target range provides sufficient flexibility in the context of operational requirements, and for an organisation of our size and complexity, understanding that Charitable income is volatile in nature, and has high expenditure commitment.

The Board reviews bi-monthly:

Financial impact of risk

As part of effective financial management, we hold reserves to ensure we can manage:

To ensure that there is no significant disruption to our charitable activities, holding appropriate reserves will enable Swansea MAD to respond to any unforeseen reduction in income (for example when income does not reach expected levels); or additional expenditure (for example when projects overrun or unplanned events occur).

We have based our projections for the appropriate amount of reserves we require on the basis that the reserves in our target range would provide short-term stability until long-term solutions can be established.

A detailed review of the financial risks we face is monitored on an ongoing basis, and our assessments on the possible financial impact of those risks have been incorporated into the reserves range we have calculated.

Commitments and long-term plans

Commitments and long-term plans are evaluated on an ongoing basis.

Future expenditure will be set in line with future income, and therefore specific long-term funds have not been set aside within reserves.

Monitoring and compliance

Reserves levels and forecasts will be monitored as part of monthly Financial reporting to the Finance and Audit Sub-Committee, with regular reports provided to the Board of Trustees and Senior Leadership Team.

Assets

The Trustees are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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SWANSEA MAD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

The Trustees are responsible for the maintenance and integrity of the charity and Financial information and Monitoring of Strategic Plans.

Details of any Funds held as a custodian Trustee : None

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust and constitutes a charitable incorporated organisation.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity Number

1190983

Principal Address

216 High Street Swansea SA1 1PE

Board of 10 Active Trustees:

L Berry (appointed 24.08.20) ( Chair ) M Soleman (appointed 30.07.20) ( Vice-Chair ) S L Thomas (appointed 01.03.21) ( Treasurer ) R Newton-John (appointed 24.08.20) L Rowland (appointed 24.08.20) K L A Edwards (appointed 20.05.21) C Lloyd (appointed 09.08.21) ( Safeguarding Lead for the Board ) A Arrieta (appointed 24.01.22) J Phillips (appointed 05.10.22) P Lacey-Freeman (appointed 18.01.23)

Bank : The Co-operative Bank PLC, PO Box 101, 1 Balloon Street, Manchester M60 4EP

Insurance: Ansvar Insurance , ansvar.insurance@ansvar.co.uk

Independent Examiners (Re-appointed at Swansea MAD's AGM September 2023): Bevan Buckland LLP , Ground Floor, Cardigan House, Castle Court, Swansea Enterprise Park, Swansea, SA7 9LA

Swansea MAD is registered with the Information Commissioner's Office (ICO) (the UK's independent body set up to uphold information rights): ZB383136.

10/10/24

Approved by order of the Board of Trustees on ............................................. and signed on its behalf by:

........................................................................ L Berry - Trustee

Page 10

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SWANSEA MAD

Independent examiner's report to the trustees of Swansea MAD

I report to the charity trustees on my examination of the accounts of Swansea MAD (the Trust) for the year ended 31 March 2024.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Henry Lloyd-Davies

Bevan Buckland LLP Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA

Date: ............................................. 10/10/24

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SWANSEA MAD

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
45,368
Charitable activities
Charitable activities
106,608
Other trading activities
2
27,918
Total
179,894
EXPENDITURE ON
Charitable activities
Charitable activities
176,595
NET INCOME/(EXPENDITURE)
3,299
RECONCILIATION OF FUNDS
Total funds brought forward
96,763
TOTAL FUNDS CARRIED FORWARD
100,062		 Restricted
funds
£
-
227,902
-
227,902
227,902
-
-
-		 2024
Total
funds
£
45,368
334,510
27,918
407,796
404,497
3,299
96,763
100,062		 2023
Total
funds
£
46,333
245,449
36,984
328,766
371,749
(42,983)
139,746
96,763

The notes form part of these financial statements

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SWANSEA MAD

BALANCE SHEET 31 MARCH 2024

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
6
9,536
CURRENT ASSETS
Debtors
7
3,500
Cash at bank and in hand
94,188
97,688
CREDITORS
Amounts falling due within one year
8
(7,162)
NET CURRENT ASSETS
90,526
TOTAL ASSETS LESS CURRENT LIABILITIES
100,062
NET ASSETS
100,062
FUNDS
9
Unrestricted funds
TOTAL FUNDS		 Restricted
funds
£
-
13,611
(13,611)
-
-
-
-
-		 2024
Total
funds
£
9,536
17,111
80,577
97,688
(7,162)
90,526
100,062
100,062
100,062
100,062		 2023
Total
funds
£
12,046
17,499
74,147
91,646
(6,929)
84,717
96,763
96,763
96,763
96,763

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

10/10/24

............................................. L Berry - Trustee

The notes form part of these financial statements

Page 13

SWANSEA MAD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

Income

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

Expenditure

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment - 25% reducing balance

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

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

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

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

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charities activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Page 14

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SWANSEA MAD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

1. ACCOUNTING POLICIES - continued

Creditors and provisions

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

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Employee Benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

2. OTHER TRADING ACTIVITIES

2024 2023
£ £
Sales 27,918 24,268

3. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.

4. STAFF COSTS

Wages and salaries
Other pension costs		 2024
£
322,477
8,931
331,408		 2023
£
306,443
8,382
314,825

The senior management of the Charity received remuneration of £212,380, (2023: £203,711) this includes gross salary paid, employers national insurance contributions and employers pension contributions.

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

Employees 2024
13		 2023
10

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

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continued...

SWANSEA MAD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

5.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
47,405
Charitable activities
Charitable activities
42,119
Other trading activities
24,628
Total
95,616
EXPENDITURE ON
Charitable activities
Charitable activities
153,446
NET INCOME/(EXPENDITURE)
(42,983)
RECONCILIATION OF FUNDS
Total funds brought forward
139,746
TOTAL FUNDS CARRIED FORWARD
96,763
6.
TANGIBLE FIXED ASSETS
COST
At 1 April 2023
Additions
At 31 March 2024
DEPRECIATION
At 1 April 2023
Charge for year
At 31 March 2024
NET BOOK VALUE
At 31 March 2024
At 31 March 2023		 Restricted
Total
funds
funds
£
£
-
47,405
214,614
256,733
-
24,628
233,150
328,766
218,303
371,749
-
(42,983)
-
139,746
-
96,763
Computer
equipment
£
52,110
668
52,778
40,064
3,178
43,242
9,536
12,046

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continued...

SWANSEA MAD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 13,611 13,999
Other debtors 3,500 3,500
17,111 17,499
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors - 721
Taxation and social security 2,195 1,654
Other creditors 4,967 4,554
7,162 6,929
9. MOVEMENT IN FUNDS
Net
movement At
At 1.4.23 in funds 31.3.24
£ £ £
Unrestricted funds
General fund 96,763 3,299 100,062
TOTAL FUNDS 96,763 3,299 100,062

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continued...

SWANSEA MAD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

9. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Lloyds Bank Foundation
Postcode Community Trust
National Grid Energy Affordability Fund
Restricted funds
West Glamorgan Regional Integrated Fund
Awards for All
Good Things Foundation
Smart Energy Meters
Welsh Government Strategic Voluntary
Youth Work Organisation
Welsh Government Sustainable Food
Partnership Fund (Bwyd Abertawe)
Welsh Government Democratic
Engagement Grant
Swansea Council Shared Prosperity Fund
COAST
Swansea Council Direct Food Support
Fund
Swansea Council Period Dignity in
Communities
Swansea Council Shared Prosperity Fund -
Enabling Communities Funding
Swansea Council Summer Holiday Food
Fund
Western Bay Community Cohesion Grant
Leeds Building Society Charitable
Foundation
GC Gibson Charitable Trust
Community Foundation Wales - Our
Communities Together Cost of Living Fund
Yorkshire Building Society Charitable
Foundation
B&Q Foundation
The National Lottery Heritage Fund
National Grid Community Matters Fund
UK Government through the UK Shared
Prosperity Fund (Pathways to Work)
Great Western Railway - Customer and
Community Improvement Fund
Swansea Council Men's Shed
Electrical Safety First
Energy Saving Trust Foundation - Youth
Climate Action Fund
Principality Building Society Future
Generations Fund
Ty Cerdd - Inspire
Millennium Stadium Charitable Trust
BNI Foundation
Gwendoline and Margaret Davies Charity
British Science Association
Learning and Work Institute Adult Learners
Week		 Incoming
resources
£
105,894
25,000
25,000
24,000
179,894
20,866
19,157
5,000
14,952
16,646
3,355
17,784
4,699
3,537
1,283
6,870
5,083
600
467
2,000
4,326
705
3,175
33,189
3,606
10,333
3,808
1,646
4,816
19,944
12,178
925
2,337
1,000
1,340
1,000
750		 Resources
Movement
expended
in funds
£
£
(102,595)
3,299
(25,000)
-
(25,000)
-
(24,000)
-
(176,595)
3,299
(20,866)
-
(19,157)
-
(5,000)
-
(14,952)
-
(16,646)
-
(3,355)
-
(17,784)
-
(4,699)
-
(3,537)
-
(1,283)
-
(6,870)
-
(5,083)
-
(600)
-
(467)
-
(2,000)
-
(4,326)
-
(705)
-
(3,175)
-
(33,189)
-
(3,606)
-
(10,333)
-
(3,808)
-
(1,646)
-
(4,816)
-
(19,944)
-
(12,178)
-
(925)
-
(2,337)
-
(1,000)
-
(1,340)
-
(1,000)
-
(750)
-

Page 18

continued...

SWANSEA MAD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

9.
MOVEMENT IN FUNDS - continued
Save The Children Great Big Green Week
Children and Young People Grant
525
227,902
TOTAL FUNDS
407,796
Comparatives for movement in funds
At 1.4.22
£
Unrestricted funds
General fund
139,746
TOTAL FUNDS
139,746
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
68,366
Lloyds Bank Foundation
27,250
95,616
Restricted funds
Swansea Council
6,679
Youth Music - InTune
27,393
WCVA Volunteer Wales
39,851
Waterloo Foundation
9,200
Meet & Code
416
West Glamorgan Regional
36,650
Community Foundation Wales
14,936
Western Power Distribution Community
Matters Fund
9,750
Anthem Music
7,421
Constitution Commission
4,985
CWVYS Summer of Fun
6,718
Digital Lift
758
Good Things Foundation
11,750
Herefordshire Community Fund
2,458
Learning and Work Institute
750
National Academy
4,953
Smart Energy Meters
17,949
National Grid Energy Project
9,769
Welsh Government
20,764
233,150
TOTAL FUNDS
328,766		 (525)
-
(227,902)
-
(404,497)
3,299
Net
movement
At
in funds
31.3.23
£
£
(42,983)
96,763
(42,983)
96,763
Resources
Movement
expended
in funds
£
£
(111,349)
(42,983)
(27,250)
-
(138,599)
(42,983)
(6,679)
-
(27,393)
-
(39,851)
-
(9,200)
-
(416)
-
(36,650)
-
(14,936)
-
(9,750)
-
(7,421)
-
(4,985)
-
(6,718)
-
(758)
-
(11,750)
-
(2,458)
-
(750)
-
(4,953)
-
(17,949)
-
(9,769)
-
(20,764)
-
(233,150)
-
(371,749)
(42,983)

Page 19

continued...

SWANSEA MAD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

9. MOVEMENT IN FUNDS - continued

DESCRIPTION OF FUNDS:

Working with Swansea Council to facilitate activities and workshops with young people and adults in Swansea, supporting them to engage with the democratic process and promoting voice and participation

Unrestricted Funded Projects/Core:

Commercial/Contracted Services:

Page 20

continued...

SWANSEA MAD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

9. MOVEMENT IN FUNDS - continued

10. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2024.

Page 21

SWANSEA MAD

DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2024
INCOME AND ENDOWMENTS
Donations and legacies
Donations
Other trading activities
Sales
Charitable activities
Grants
Total incoming resources
EXPENDITURE
Charitable activities
Wages
Pensions
Project costs
Overheads
Support costs
Governance costs
Accountancy
Legal fees
Consultancy fees
Bank charges
Total resources expended
Net income/(expenditure)		 2024
£
45,368
27,918
334,510
407,796
322,477
8,931
39,377
29,394
400,179
3,437
-
475
406
4,318
404,497
3,299		 2023
£
47,405
24,268
256,733
328,766
306,443
8,382
27,080
24,928
366,833
3,788
334
170
624
4,916
371,749
(42,983)

This page does not form part of the statutory financial statements

Page 23