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2025-03-31-accounts

Docusign Envelope ID: 1E151937-366A-487F-B5D2-ADE012C83BEB

REGISTERED COMPANY NUMBER: 14548949 (England and Wales) REGISTERED CHARITY NUMBER: 1207238

Report of the Trustees and

Financial Statements for the Year Ended 31 March 2025

for

Care & Repair Monmouthshire & Torfaen Limited

Menzies LLP, Statutory Auditors 5th Floor Hodge House 114-116 St Mary Street Cardiff CF10 1DY

Docusign Envelope ID: 1E151937-366A-487F-B5D2-ADE012C83BEB

Care & Repair Monmouthshire & Torfaen Limited

Contents of the Financial Statements for the Year Ended 31 March 2025

Page
Report of the Trustees 1 to 6
Report of the Independent Auditors 7 to 8
Statement of Financial Activities 9
Balance Sheet 10
Cash Flow Statement 11
Notes to the Cash Flow Statement 12
Notes to the Financial Statements 13 to 21
Detailed Statement of Financial Activities 22 to 23

Docusign Envelope ID: 1E151937-366A-487F-B5D2-ADE012C83BEB

Care & Repair Monmouthshire & Torfaen Limited

Report of the Trustees for the Year Ended 31 March 2025

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

The trustees of Care & Repair Monmouthshire and Torfaen are pleased to present the annual report for the period 1st April 2024 to 31st March 2025. This report outlines the charity's activities, achievements, and financial performance during the period, providing a clear overview of how the Charity has met their objectives and continued to help older people within the communities of Monmouthshire and Torfaen.

The trustees of Care & Repair Monmouthshire and Torfaen confirm that they have had due regard to the guidance issued by the Charity Commission on public benefit. In carrying out their duties, the trustees have ensured that the Charity's activities are in line with the public benefit requirements, focusing on providing vital services to support older people in the community.

Care & Repair Monmouthshire and Torfaen exists to enable older people to remain living independently in their own homes through the improvement of their housing conditions and therefore their levels of comfort, safety, security, and wellbeing. The Objects of the Charity are for the public benefit and specifically restricted to relieve the needs of people living in the areas of Monmouthshire and Torfaen who are disadvantaged by reason of age, ill health, or disability, in particular but not exclusively by the provision of housing advice and support.

Page 1

Docusign Envelope ID: 1E151937-366A-487F-B5D2-ADE012C83BEB

Care & Repair Monmouthshire & Torfaen Limited

Report of the Trustees for the Year Ended 31 March 2025

Objectives and activities Objectives and aims

The primary objectives of the charity are to:

To achieve these objectives, Care & Repair Monmouthshire and Torfaen has continued to deliver essential services, including:

1. Healthy Homes Checks - Delivering a quality home-visiting service that is Casework led. These home visits included a holistic client/home assessment with focus on falls prevention and home/personal safety.

2. Technical Service - Delivering a professional service, providing technical advice and managing building work effectively. Liaising with contractors, utilities, funders and local authorities where necessary.

3. Preferred Contractors - The charity has maintained good links with local contractors, including the management of a 'preferred contractor list'; ensuring problems are resolved by using good value and trustworthy tradespeople. Supporting clients to maintain and adapt their homes, promoting safe and independent living.

4. Minor Adaptations - The charity offers a highly effective and efficient minor adaptation service in partnership with Torfaen County Borough Council, Monmouthshire County Council, Welsh Government, local Housing Associations and Aneurin Bevan University Health Board (ABUHB). The service delivers excellent value for its clients. These adaptations play a key role in enhancing safety and supporting individuals' independence in their homes.

Additionally, the service facilitates timely hospital discharges by providing necessary interventions that enable clients to return home safely and continue living independently.

5. Advice - The charity offers free, impartial advice, information, and support on a range of issues, including welfare benefits, financial aid, social care services, energy-saving measures, gas safety and access to community groups. By maintaining strong partnerships with both national and local organisations and voluntary groups, the charity ensures comprehensive support. A regularly updated resource library is available, and the Caseworkers possess an extensive knowledge of local services, providing clients with valuable, relevant guidance and assistance.

6. Small Measures - Caseworkers have been able to provide a range of small measures to support client safety and independence. Including the provision of carbon monoxide detectors and a variety of assistive technology.

7. Client Income Maximisation - The Healthy Home Check assessment includes a check on welfare benefit entitlement and support claims that maximise client income (including access to crisis funds and one-off payments)

8. Fundraising - Caseworkers have made applications to charitable organisations and community groups for one-off payments for clients towards essential home adaptations and repairs.

9. Hospital to a Healthier Home Service - The Charity has partnered with Aneurin Bevan University Health Board to employ two hospital-based Caseworkers whose primary objective is to ensure patients living environments do not delay discharge. The service works with hospital teams and patients to identify and resolve housing problems that may lead to a delayed discharge. Following discharge, all patients are also offered 'Healthy Homes Check' to support them to live independently and safely at home and prevent unnecessary hospital re-admissions.

10. Managing Better Service - In partnership with RNIB, Stroke Association, RNID and Alzheimer's Society Cymru . The service supports clients who have sensory loss, stroke survivors or clients living with dementia to live safely in their own homes by assessing for any additional aids or adaptations that may be needed to ensure this. The Managing Better Caseworker works closely with health practitioners and relevant organisations to ensure a client has support to remain independent.

11. Healthy Homes Initiative - The charity has worked in partnership with GP surgeries in Torfaen and Monmouthshire to help patients remain independent and reduce the risk of hospital admission.

12. Older Not Colder - The charity has worked in partnership with Wales and West Utilities to deliver this project that aims to improve energy efficiency and tackle fuel poverty in the Gwent area.

In addition to providing quality, client-centred services, the charity has also carried out the following activities to ensure the objectives are met:

Page 2

Docusign Envelope ID: 1E151937-366A-487F-B5D2-ADE012C83BEB

Care & Repair Monmouthshire & Torfaen Limited

Report of the Trustees for the Year Ended 31 March 2025

  1. The Charity has maintained strong links with referring partners and external organisations. Maintaining effective referral protocols with key operational partners in Housing, Social Services, Health and Third-Sector organisations.

  2. The Charity has maintained its 'Alternative Office' status with the Department of Work and Pensions for welfare benefit applications.

  3. The charity has maintained its commitment to staff by continuing to invest in their well-being. In 2024/25, the Board approved a competitive cost-of-living increase to help retain employees and boost morale. This strategic decision highlights the charity's dedication to supporting its workforce and ensuring long-term staff retention.

  4. The Charity's training and development practices reflect their commitment to equipping staff with the skills and confidence needed to perform their duties effectively. Care & Repair Monmouthshire and Torfaen recognise that the employees are the organisation's most valuable asset, and to enhance overall performance, it is crucial to continually invest in their development. Training has been delivered through a combination of face-to-face group sessions, role-specific external courses, and E-learning opportunities provided by Care & Repair Cymru, ensuring staff are supported at all levels.

  5. Care & Repair Monmouthshire and Torfaen have effectively used social media as a platform to advocate for and empower older people in the community. Through regular updates, informative posts, and engagement across channels, the Charity has raised awareness of key issues affecting older people, including safety, independence, and access to services. By sharing valuable resources, success stories, and guidance, the Charity has helped to connect older people with essential support and encouraged active participation in local initiatives.

  6. The Charity has renewed several Service Level Agreements with key funders to ensure the ongoing financial stability of the charity.

Page 3

Docusign Envelope ID: 1E151937-366A-487F-B5D2-ADE012C83BEB

Care & Repair Monmouthshire & Torfaen Limited

Report of the Trustees for the Year Ended 31 March 2025

Strategic report Achievements and performance Charitable activities

Over the period 1 April 2024 to 31 March 2025, Care & Repair Monmouthshire and Torfaen has:

Particular highlights of the year were:

The Agency achieved Cyber Essentials accreditation during 2024/25, this serves as a foundational layer of cyber security for organisations looking to safeguard their data and systems from common cyber threats.

Following the Agency becoming a charity, a hardship fund was set up and we invited clients to make donations if they wish. The Agency has also successfully applied for "Gift Aid". During 2024/25 we received donations totalling over £9,000.

In June 2024 the Agency was re-accredited with the Advice Quality Standard following an external audit of our systems, policies and procedures.

Torfaen Voluntary Alliance awarded the Agency revenue and capital funding in January 2025 to pilot our Healthy at Homes Initiative for patients with respiratory illnesses in Torfaen.

The Agency was successful in a bid to Electrical Safety First and awarded £10,000.00 capital funding to carry out electrical safety works in our clients' homes.

The Agency commissioned a Health and Safety audit to ensure compliance with all regulations and ensure best practice is being implemented.

Challenges and Opportunities

Despite the successes of the past year, Care & Repair Monmouthshire and Torfaen faced several challenges, particularly around staff absence and internal staffing matters. The Agency received excellent support from our HR consultant in resolving issues and ensuring compliance with policy and procedure.

Rising costs of materials and labour presented a challenge in ensuring value for money and protecting internal adaptations budgets. This was further exacerbated by the long-term absence of the Safety at Home Technicians.

The prolonged rollout of the new national database system meant the Agency was faced with additional costs and a strain on staff resources to facilitate the implementation of the new system. Moving to a new database part way through the financial year proved challenging and time consuming, however, the staff rose to the challenge as they worked hard to ensure a smooth transition.

Financial review

Financial position

During the financial year, Care & Repair Monmouthshire and Torfaen received income from a range of sources, including grants, donations, and contracts with local authorities. Total income for the period was £1,503,485. Our expenditure for the period was £1,435,151, with the majority of funds allocated to direct service delivery, including home adaptations, repairs, and assessments.

The charity's financial position remains stable, with reserves of £558,574 at the end of the period. These reserves are in line with our reserves policy, which ensures that we have sufficient funds to cover three months of operating costs in the event of an unexpected reduction in income.

We remain committed to diversifying our income streams to ensure long-term sustainability, particularly in the face of increasing demand for our services. This includes exploring opportunities for additional grant funding, new partnerships, and community fundraising.

Page 4

Docusign Envelope ID: 1E151937-366A-487F-B5D2-ADE012C83BEB

Care & Repair Monmouthshire & Torfaen Limited

Report of the Trustees for the Year Ended 31 March 2025

Strategic report Future plans

Looking ahead, Care & Repair Monmouthshire and Torfaen has ambitious plans to:

Structure, governance and management Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Governance and Structure

Care & Repair Monmouthshire and Torfaen is governed by a Board of Trustees who are responsible for the overall strategy and direction of the charity. The Board meets regularly to review progress, ensure compliance with regulations, and oversee financial management.

The day-to-day operations of the charity are managed by a dedicated team of staff, led by the Chief Officer, who reports directly to the Board. We are proud of the commitment and expertise demonstrated by the team in delivering high-quality services to older people in our community.

Conclusion

The trustees are proud of the progress made by Care & Repair Monmouthshire and Torfaen over the period. Despite increasing demand, the charity has continued to provide invaluable services to older people within our community. The Trustees extend our heartfelt thanks to our dedicated staff, funders, and partners for their ongoing support.

Together, we look forward to building on our achievements and continuing to make a positive impact in the lives of older people.

Reference and administrative details Registered Company number

14548949 (England and Wales)

Registered Charity number

1207238

Registered office

Room S2, Sycamore Suite Caerleon House Mamhilad Park Estate Pontypood Torfaen NP4 0HZ

Trustees

I Bakewell - Local Government Officer Mrs K Deakin - Senior Management Mrs E Jones - Group Manager Mrs S Tipping - Local Government Officer (resigned 10.5.25) Mrs F Williams Trustee (appointed 15.10.24) Mrs C Love Trustee (appointed 15.10.24)

Page 5

Docusign Envelope ID: 1E151937-366A-487F-B5D2-ADE012C83BEB

Care & Repair Monmouthshire & Torfaen Limited

Report of the Trustees for the Year Ended 31 March 2025

Reference and administrative details Auditors

Menzies LLP, Statutory Auditors 5th Floor Hodge House 114-116 St Mary Street Cardiff CF10 1DY

Statement of trustees' responsibilities

The trustees (who are also the directors of Care & Repair Monmouthshire & Torfaen Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

Auditors

The auditors, Menzies LLP, Statutory Auditors, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ............................................. and signed on the board's behalf by: 22-Oct-2025

........................................................................ Mrs C Love - Trustee

Page 6

Docusign Envelope ID: 1E151937-366A-487F-B5D2-ADE012C83BEB

Report of the Independent Auditors to the Members of Care & Repair Monmouthshire & Torfaen Limited

Opinion

We have audited the financial statements of Care & Repair Monmouthshire & Torfaen Limited (the 'charitable company') for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Page 7

Docusign Envelope ID: 1E151937-366A-487F-B5D2-ADE012C83BEB

Report of the Independent Auditors to the Members of Care & Repair Monmouthshire & Torfaen Limited

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our planning procedures identify the legal and regulatory frameworks applicable to the operations and financial statements of the company. These are reviewed internally with the audit team including relevant industry experience and expectations as well as externally with the client management. The key laws and regulations we considered in this context were the UK Companies Act 2006, UK GAAP (FRS 102) and relevant tax legislation.

Once identified, we assess the risks of material misstatements in relation to the laws and regulations, irregularities, including fraud and adjust our testing accordingly. Our audit procedures include:

Despite the audit being planned and conducted in accordance with ISAs (UK) there remains an unavoidable risk that material misstatements in the financial statements may not be detected owing to inherent limitations of the audit, and that by their very nature, any such instances of fraud or irregularities likely involve collusion, forgery, intentional misrepresentation, or the override of internal controls.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Victoria Carter (Senior Statutory Auditor) for and on behalf of Menzies LLP, Statutory Auditors 5th Floor Hodge House 114-116 St Mary Street Cardiff CF10 1DY

23-Oct-2025 Date: .............................................

Page 8

Docusign Envelope ID: 1E151937-366A-487F-B5D2-ADE012C83BEB

Care & Repair Monmouthshire & Torfaen Limited

Statement of Financial Activities for the Year Ended 31 March 2025

Notes
Income and endowments from
Donations and legacies
2
Other income
Total
Expenditure on
Raising funds
3
Charitable activities
4
General
Total
NET INCOME
Transfers between funds
15
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
£
76,582
-
76,582
120,999
(84,520)
36,479
40,103
(132)
39,971
518,737
558,708		 Restricted
funds
£
1,426,903
-
1,426,903
-
1,399,837
1,399,837
27,066
132
27,198
1,503
28,701		 Year Ended
31.3.25
Total
funds
£
1,503,485
-
1,503,485
120,999
1,315,317
1,436,316
67,169
-
67,169
520,240
587,409		 Period
19.12.22
to
31.3.24
Total
funds
£
1,439,614
515,753
1,955,367
97,205
1,337,922
1,435,127
520,240
-
520,240
-
520,240

The notes form part of these financial statements

Page 9

Docusign Envelope ID: 1E151937-366A-487F-B5D2-ADE012C83BEB

Care & Repair Monmouthshire & Torfaen Limited

Balance Sheet 31 March 2025

Unrestricted
funds
Notes
£
Fixed assets
Tangible assets
11
23,314
Current assets
Debtors
12
164,596
Cash at bank
449,053
613,649
Creditors
Amounts falling due within one year
13
(78,256)
Net current assets
535,393
Total assets less current liabilities
558,707
NET ASSETS
558,707
Funds
15
Unrestricted funds
Restricted funds
Total funds		 Restricted
funds
£
-
-
28,702
28,702
-
28,702
28,702
28,702		 2025
Total
funds
£
23,314
164,596
477,755
642,351
(78,256)
564,095
587,409
587,409
558,707
28,702
587,409		 2024
Total
funds
£
29,041
140,248
400,572
540,820
(49,621)
491,199
520,240
520,240
518,737
1,503
520,240

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 22-Oct-2025

............................................. C Love - Trustee

The notes form part of these financial statements

Page 10

Docusign Envelope ID: 1E151937-366A-487F-B5D2-ADE012C83BEB

Care & Repair Monmouthshire & Torfaen Limited

Cash Flow Statement for the Year Ended 31 March 2025

Year Ended
31.3.25
Notes
£
Cash flows from operating activities
Cash generated from operations
1
79,051
Net cash provided by operating activities
79,051
Cash flows from investing activities
Purchase of tangible fixed assets
(1,868)
Net cash used in investing activities
(1,868)
Change in cash and cash equivalents in
the reporting period
77,183
Cash and cash equivalents at the
beginning of the reporting period
400,572
Cash and cash equivalents at the end of
the reporting period
477,755		 Period
19.12.22
to
31.3.24
£
436,873
436,873
(36,301)
(36,301)
400,572
-
400,572

The notes form part of these financial statements

Page 11

Docusign Envelope ID: 1E151937-366A-487F-B5D2-ADE012C83BEB

Care & Repair Monmouthshire & Torfaen Limited

Notes to the Cash Flow Statement for the Year Ended 31 March 2025

1. Reconciliation of net income to net cash flow from operating activities

Period
19.12.22
Year Ended to
31.3.25 31.3.24
£ £
Net income for the reporting period (as per the Statement of Financial
Activities) 67,169 520,240
Adjustments for:
Depreciation charges 7,595 7,260
Increase in debtors (24,348) (140,248)
Increase in creditors 28,635 49,621
Net cash provided by operations 79,051 436,873
Analysis of changes in net funds
Net cash At 1.4.24
£		 Cash flow
£		 At 31.3.25
£
Cash at bank 400,572 77,183 477,755
400,572 77,183 477,755
Total 400,572 77,183 477,755

2. Analysis of changes in net funds

The notes form part of these financial statements

Page 12

Docusign Envelope ID: 1E151937-366A-487F-B5D2-ADE012C83BEB

Care & Repair Monmouthshire & Torfaen Limited

Notes to the Financial Statements for the Year Ended 31 March 2025

1. Accounting policies

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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.

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

Fixtures and Fittings - 20 - 33.3% on cost Motor Vehicles - 20% on cost

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

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

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

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

Pension costs and other post-retirement benefits

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

2. Donations and legacies

Donations
Grants		 Year Ended
31.3.25
£
9,236
1,494,249
1,503,485		 Period
19.12.22
to
31.3.24
£
386
1,439,228
1,439,614

Page 13

continued...

Docusign Envelope ID: 1E151937-366A-487F-B5D2-ADE012C83BEB

Care & Repair Monmouthshire & Torfaen Limited

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

2. Donations and legacies - continued

Grants received, included in the above, are as follows:

Assistive Technology
Bron Afon
ICF
RRAP
Care and Safety
Core Revenue
Safety at Home
Enable
DFG
DV Scheme
RSL Keysafe
HHI
Managing Better
Telecare
Hospital to Healthy Home
MHA HHI
Affordable warmth
Client Account Income
Older Not Colder
Further Faster
Energy Efficient		 Year Ended
31.3.25
£
-
112,943
33,333
522,456
74,289
253,734
100,000
20,000
-
10,390
5,000
84,986
43,122
-
137,863
-
10,000
-
80,542
5,000
591
1,494,249		 Period
19.12.22
to
31.3.24
£
99
126,385
55,298
476,044
74,288
250,584
149,334
20,000
701
10,177
5,000
82,770
42,473
1,621
125,130
4,000
10,000
5,324
-
-
-
1,439,228

3. Raising funds Raising donations and legacies

Year Ended
31.3.25
£
Materials
102,249
Investment management costs
Year Ended
31.3.25
£
Rent collection
18,750
Aggregate amounts
120,999		 Period
19.12.22
to
31.3.24
£
81,883
Period
19.12.22
to
31.3.24
£
15,322
97,205

Page 14

continued...

Docusign Envelope ID: 1E151937-366A-487F-B5D2-ADE012C83BEB

Care & Repair Monmouthshire & Torfaen Limited

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

4. Charitable activities costs

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||||||| |---|---|---|---|---|---| |Support| |Direct|costs (see| |Costs|note 5)|Totals| |£|£|£| |General|1,264,908|50,409|1,315,317| |5.|Support costs| |Governance| |Management|Finance|Other|costs|Totals| |£|£|£|£|£| |General|38,783|205|1,886|9,535|50,409| |6.|Net income/(expenditure)| |Net income/(expenditure) is stated after charging/(crediting):| |Period| |19.12.22| |Year Ended|to| |31.3.25|31.3.24| |£|£| |Depreciation - owned assets|7,595|7,260|

----- End of picture text -----

7. Trustees' remuneration and benefits

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the period ended 31 March 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2025 nor for the period ended 31 March 2024.

8. Staff costs

----- Start of picture text -----
|||| |---|---|---| |Period| |19.12.22| |Year Ended|to| |31.3.25|31.3.24| |£|£| |Wages and salaries|634,501|504,432| |Social security costs|53,874|46,457| |Other pension costs|34,111|73,339| |722,486|624,228|

----- End of picture text -----

The total employee benefits received during the period of the key management personnel of the charity was £163,510 (2024: £158,475).

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

----- Start of picture text -----
|||| |---|---|---| |Period| |19.12.22| |Year Ended|to| |31.3.25|31.3.24| |Employees|22|17|

----- End of picture text -----

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

Page 15

continued...

Docusign Envelope ID: 1E151937-366A-487F-B5D2-ADE012C83BEB

Care & Repair Monmouthshire & Torfaen Limited

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

9. Comparatives for the statement of financial activities

Income and endowments from
Donations and legacies
Other income
Total
Expenditure on
Raising funds
Charitable activities
General
Total
NET INCOME
Total funds carried forward		 Unrestricted
funds
£
547,975
515,753
1,063,728
97,205
447,787
544,992
518,736
518,736		 Restricted
funds
£
891,639
-
891,639
-
890,135
890,135
1,504
1,504		 Total
funds
£
1,439,614
515,753
1,955,367
97,205
1,337,922
1,435,127
520,240
520,240

10. Other income

Other Income in the accounts relates to reserves transferred across from Melin Homes to Care & Repair Monmouthshire & Torfaen when they transferred from Melin to become a stand-alone charity. The reserves related to activity that Care & Repair Monmouthshire & Torfaen had undertaken when part of Melin Homes.

11. Tangible fixed assets

Motor
Computer
vehicles
equipment
£
£
Cost
At 1 April 2024
25,337
10,964
Additions
-
1,868
At 31 March 2025
25,337
12,832
Depreciation
At 1 April 2024
5,067
2,193
Charge for year
5,068
2,527
At 31 March 2025
10,135
4,720
Net book value
At 31 March 2025
15,202
8,112
At 31 March 2024
20,270
8,771		 Totals
£
36,301
1,868
38,169
7,260
7,595
14,855
23,314
29,041

Page 16

continued...

Docusign Envelope ID: 1E151937-366A-487F-B5D2-ADE012C83BEB

Care & Repair Monmouthshire & Torfaen Limited

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

12. Debtors: amounts falling due within one year

Trade debtors
Prepayments and accrued income
Creditors: amounts falling due within one year
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income		 2025
£
157,032
7,564
164,596
2025
£
41,773
12,890
139
23,454
78,256		 2024
£
128,214
12,034
140,248
2024
£
23,473
10,789
388
14,971
49,621

13. Creditors: amounts falling due within one year

14. Leasing agreements

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

Within one year
Between one and five years		 2025
£
950
2,316
3,266		 2024
£
950
3,327
4,277

15. Movement in funds

Unrestricted funds
General fund
Designated
Restricted funds
Welsh Government (RRAP)
TCBC RRAP
Safety at Home
RSL Keysafe
Care & Safety
SPG Domestic Violence
ICF
Hospital to Healthy Home Capital
Further Faster Captial
TOTAL FUNDS		 Net
movement
At 1.4.24
in funds
£
£
518,737
30,954
-
9,148
518,737
40,102
-
(8)
-
(1)
-
25,286
-
(20)
-
(4)
263
2,572
-
(10)
1,240
(659)
-
(89)
1,503
27,067
520,240
67,169		 Transfers
between
funds
£
(438)
306
(132)
8
1
-
20
4
-
10
-
89
132
-		 At
31.3.25
£
549,253
9,454
558,707
-
-
25,286
-
-
2,835
-
581
-
28,702
587,409

Page 17

continued...

Docusign Envelope ID: 1E151937-366A-487F-B5D2-ADE012C83BEB

Care & Repair Monmouthshire & Torfaen Limited

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

15. Movement in funds - continued

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

Unrestricted funds
General fund
Designated
Restricted funds
Welsh Government (Core)
Welsh Government (RRAP)
TCBC RRAP
Safety at Home
RSL Keysafe
Client Account
Care & Safety
SPG Domestic Violence
Managing Better
Enable
Bron Afon
Hospital to Healthy Home
ICF
Health Homes Initiative ABUHB
Hospital to Healthy Home Capital
Energy Efficient Measures
Further Faster Captial
Older Not Colder
RRAP Revenue (WG)
RRAP Social Services Revenue (TCBC)
HHI Monmouthshire Revenue
TOTAL FUNDS		 Incoming
resources
£
67,347
9,235
76,582
250,584
394,256
75,000
88,889
5,000
3,150
50,000
10,390
43,122
17,391
97,944
92,863
28,995
47,542
45,000
591
5,000
80,542
34,200
19,000
37,444
1,426,903
1,503,485		 Resources
expended
£
(36,393)
(87)
(36,480)
(250,584)
(394,264)
(75,001)
(63,603)
(5,020)
(3,150)
(50,004)
(7,818)
(43,122)
(17,391)
(97,944)
(92,863)
(29,005)
(47,542)
(45,659)
(591)
(5,089)
(80,542)
(34,200)
(19,000)
(37,444)
(1,399,836)
(1,436,316)		 Movement
in funds
£
30,954
9,148
40,102
-
(8)
(1)
25,286
(20)
-
(4)
2,572
-
-
-
-
(10)
-
(659)
-
(89)
-
-
-
-
27,067
67,169

Comparatives for movement in funds

Net
movement
in funds
£
Unrestricted funds
General fund
518,737
Restricted funds
SPG Domestic Violence
263
Hospital to Healthy Home Capital
1,240
1,503
TOTAL FUNDS
520,240		 At
31.3.24
£
518,737
263
1,240
1,503
520,240

Page 18

continued...

Docusign Envelope ID: 1E151937-366A-487F-B5D2-ADE012C83BEB

Care & Repair Monmouthshire & Torfaen Limited

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

15. Movement in funds - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Welsh Government (Core)
Welsh Government (RRAP)
TCBC RRAP
RSL Keysafe
Affordable Warmth
Healthy Homes Initiative
SPG Domestic Violence
Managing Better
Hospital to Healthy Home
Health Homes Initiative ABUHB
Hospital to Healthy Home Capital
Monmouthshire Housing residents HHI
project
TOTAL FUNDS		 Incoming
resources
£
1,063,728
250,584
342,505
19,000
5,000
10,000
37,779
10,177
42,473
85,130
44,991
40,000
4,000
891,639
1,955,367		 Resources
expended
£
(544,991)
(250,584)
(342,505)
(19,000)
(5,000)
(10,000)
(37,779)
(9,914)
(42,473)
(85,130)
(44,991)
(38,760)
(4,000)
(890,136)
(1,435,127)		 Movement
in funds
£
518,737
-
-
-
-
-
-
263
-
-
-
1,240
-
1,503
520,240

Page 19

continued...

Docusign Envelope ID: 1E151937-366A-487F-B5D2-ADE012C83BEB

Care & Repair Monmouthshire & Torfaen Limited

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

15. Movement in funds - continued

Welsh Government (Core) - Welsh Government Funding to be used for specific job roles and running costs of the Agency

Welsh Government (RRAP) - Capital funding from Welsh Government to facilitate a Rapid Response Adaptations Programme (RRAP) which provides minor adaptations for clients living within Monmouthshire and Torfaen

TCBC RRAP - Capital and revenue funding from Torfaen County Borough Council to 'top up' the Welsh Government RRAP funding in Torfaen and to support staff salaries within Torfaen.

RSL Keysafe - Capital funding from Monmouthshire Social Services to fund key safes for clients living within Monmouthshire

Affordable Warmth - Revenue funding from National Grid to provide and Affordable Warmth Priority Services project

ABUHB HHI - Revenue funding from Aneurin Bevan University Health Board Neighbourhood Care Network to facilitate a Healthy Home Initiative in partnership with GP surgeries within Torfaen

SPG Domestic Violence - Capital and revenue funding from Monmouthshire County Council to fund safety adaptions for people at risk of Domestic Violence living in Monmouthshire

Managing Better - Revenue funding from Welsh Government Sustainable Social Services Third Sector Grant to deliver a Managing Better project to clients within Monmouthshire

Hospital to Healthy Homes - Revenue funding from ABUHB for two Caseworkers.

Hospital to Healthy Homes Capital - Capital funding from Gwent Regional Integration Fund to facilitate minor adaptations for a timely hospital discharge for clients living within Monmouthshire and Torfaen

Health Homes Initiative Revenue funding from Monmouthshire County Council to facilitate a Healthy Home Initiative within Monmouthshire.

Monmouthshire Housing Residents HHI - Healthy Homes initiate project specific to to residents of Monmouthshire Housing.

Bron Afon Adaptions Capital - To fund minor adaptations in Bron Afon properties.

Care & Safety Capital - To fund minor adaptations referred by Health in Torfaen.

Client Account Income - Funding pledged to pay for works for specific clients.

Donations - Donations pledged to go into a hardship fund for sole use by C&R clients.

Electrical Safety First Capital - To fund electrical safety works in client's homes.

Enable Capital - To fund minor and medium adaptations in Torfaen.

Energy Efficiency Measures - To purchase energy efficiency products for distribution to clients.

Further Faster Capital - To purchase products to elicit the effects of damp in clients' homes in Torfaen.

ICC Capital - To fund minor adaptations in Torfaen, including cross-tenure and purchasing assistive technology/equipment.

Older Not Colder Revenue - To fund two full time Home Energy Officer posts and associated oncosts.

RRAP Revenue - To fund Administrative support to facilitate minor adaptations

RRAP Social Services Revenue - To partially fund a Caseworker role in Torfaen

Safety at Home Capital - To fund minor adaptations in Monmouthshire

Page 20

continued...

Docusign Envelope ID: 1E151937-366A-487F-B5D2-ADE012C83BEB

Care & Repair Monmouthshire & Torfaen Limited

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

16. Related party disclosures

The following transactions were entered into with related parties during the year:

Related Party Relationship

Monmouthshire County Member of Board also Council Housing and Communities Manager at the County Council

Torfaen County Member of Board also Borough Council Group Manager, Social Care at Torfaen CBC

Related Party Transactions

Monmouthshire CC fund three major schemes, through a mixture of capital and revenue funding. Funding invoices in the year totalled £152,834 of which £9,362 was outstanding at year end.

TCBC fund two schemes (mixture of capital and revenue). Funding invoices in the year totalled £114,000.

Bron Afon Community Housing

Member of Board also Executive Director of Operations

Bron Afon Community Housing provides capital and revenue funding for the delivery of minor adaptations to their residents. Funding in the year totalled £112,944 of which £26,694 was outstanding at year end.

Page 21

Docusign Envelope ID: 1E151937-366A-487F-B5D2-ADE012C83BEB

Care & Repair Monmouthshire & Torfaen Limited

Detailed Statement of Financial Activities for the Year Ended 31 March 2025

Year Ended
31.3.25
£
Income and endowments
Donations and legacies
Donations
9,236
Grants
1,494,249
1,503,485
Other income
Exceptional items
-
Total incoming resources
1,503,485
Expenditure
Raising donations and legacies
Materials
102,249
Investment management costs
Rent collection
18,750
Charitable activities
Wages
634,501
Social security
53,874
Pensions
34,111
Health and Safety
3,789
Direct Costs
488,307
Staff Training
2,930
Corporate Clothing
355
IT Costs
28,733
Motor Vehicles
18,063
Office Equipment
245
1,264,908
Support costs
Management
Insurance
17,369
Telephone
6,894
Postage and stationery
6,342
Advertising
662
Sundries
2,253
Travel
5,263
38,783
Finance
Bank charges
205
Motor vehicles
-
Computer equipment
-
205
Other
Cleaning
-
Carried forward
-		 Period
19.12.2
2
to
31.3.24
£
386
1,439,228
1,439,614
515,753
1,955,367
81,883
15,322
504,432
46,457
73,339
2,096
598,555
2,075
637
29,184
15,672
1,272
1,273,719
12,652
6,660
4,354
1,265
1,787
5,714
32,432
7
5,067
2,193
7,267
73
73

This page does not form part of the statutory financial statements

Page 22

Docusign Envelope ID: 1E151937-366A-487F-B5D2-ADE012C83BEB

Care & Repair Monmouthshire & Torfaen Limited

Detailed Statement of Financial Activities for the Year Ended 31 March 2025

Year Ended
31.3.25
£
Other
Brought forward
-
Consulting
1,886
1,886
Governance costs
Accountancy fees
5,814
Legal fees
3,721
9,535
Total resources expended
1,436,316
Net income
67,169		 Period
19.12.2
2
to
31.3.24
£
73
12,710
12,783
3,780
7,941
11,721
1,435,127
520,240

This page does not form part of the statutory financial statements

Page 23