LLEWELLYN ALMSHOUSES FINANCIAL STATEMENTS FOR THE PERIOD I APRIL 2024TO 31 MARCH 2025
Llewellyn Almshouses Financial Statements Year ended 31 March 2025 CONTENTS Page Legal & Administrative Information Report of the Trustees Independent Examiner's Report Statement of Comprehensive Income statement of Financial Posltlon Statement of Changes in Reserves Statement of Cash Flow Notes to the Accounts 10-20 Notes not forming part of the Financial Statements.. Detailed income and expenditure account 21
Llewellyn Almshouses Financial Statements Year ended 31 March 2025 LEGAL AND ADMINISTRATIVE INFORMATION Trustee5: Councillor A Lodwig (Chairman) Councillor W Carpenter Cour>cillor T. Bowen Canon. David Watkins Rev. Lynda Newman (Rector of parish of Neathl Cerys Lewis Rosser (appointed 09.12.20241 The trijstees delegate the day-to-day management of the property to Tai Tarian Limited. Charity No: 218821 Address ol Charlty: Leonard Street, Neath. (Admifiisteied by Tai Tarian Limltedl Independent Ex?mlner: WBV Limited Chartered Accountants Statutory Auditors Woodfield House Castle Walk Neath SAII 3LN Bankers: Lloyd5 Bank PIC Neath
Llewellyn Almshouses Financial Statements Year ended 31 March 2025 REPORT OF THE TRUSTEES The Trustees present their report tO8ether wlth the financial statements of the Charity for the period l April 2024 to 31 March 2025. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng Document Llewellyn Almshouses was established under a deed dated 24 December 1897. It was registered wit the Charity Commlssion on 10 September 1974. The activities of the Llewellyn Almshouses are controlled by a Board of Trustees. The Board meet on a regular basis to ensure the smooth running of the organisation. Decisions regardin8 the management of the Llewellyn Almshouses are made by the Trustees. OBJECTIVES AND ACTIVITIES Llewellyn Almshouses is a non-profit making organisation engaged in the provision of social housing at their premises in Leonard Street, Neath. The primary objective of the organlsation is to provide houslng for single women and wldows over the age of 45 years. ACHIEVEMENTS AND PERFORMANCE Total income for the period wa5 £60,99712024'. £59,259). The surplus for the year was £6,91412024: £5,837) before the revaluation of investments. After the revaluation the surplus was £10,64812024: Surplus £8,494). The accumLtlated free reserves at the end of the year amounted to £90,14812024: £90,206) and designated reserves amounted to £95,68512024.. £84,979). In 2025 occupancy levels were much lower than 2024 Idue to flat 6 being empty for the malorlty of the yearl. This increases the loss of rental Income as a result of volds in the period was £11,34912024'. £6,690>, a5 well as increasing costs such a5 Council Tax £2,04412024.. £1,413). PRINCIPAL RISKSAND UNCERTAINTIES The main rlsk faced by Llewellyn Almshouses relates to the age of the bullding from which it operates and the need to mairFtain the standard of accommodation provided. The trustees have undertaken a rigorous programme of updating and improvement over recent years and ensure that regular Inspections of the premises are carrled out. A programme of routlne and cycllcal maintenance is maintained. Such action reduces the risk of signlficant unforeseen work and expendlture from arisir)g.
Llewellyn Almshouses Financial Statements Year ended 31 March 2025 REPORT OF THE TRUSTEES PUBLIC BENEFIT The trustees have given due regard to public benefit and consider that e8ch of the attivltles that the charity is engaged in helps promote the aims of the charity in respect of improving the condltlons of life of the tenants of Llewellyn Almshouses. FINANCIAL REVIEW It is the pollcy of the Llewellyn Almshouse5 to maintain unrestricted funds, which are its free reserves. The Trustees have designated part of its reserves and earmarked them for a particular purpose such as extraordinary repairs and cyclical maintenance. Such designated reseNes are part of unrestricted reserves. Where funds are received that have speclflc restrictlons attached to thelr use they are treated as restricted reserves and are not free reseTves. Further explanation is given in the accounting policies on pages 10-13. ACCOUNTING PERIOD The financial statements have been prepared for the 12-month period ended 31 March 2025. The comparable figures as of 31 March 2024 also reflect a 12-month perlod. POST BALANCE SHEET EVENTS There have been no events since the financial year-end that have had a slgnlflcant effect on the financial position, RESPONSIBILITIES OF THE TRUSTEES The Trustees are responsible for preparing the report and financial statements In accordance wlth applicable law and regulations. The Trustees are required to prepare financlal statements foreach financial year which give a true and fairview of the position of the registered social landlord and of the surplus or deficlt of the registered social landlord for that period. In preparing those financial statements they are requlred to.. select suitable accounting policies and then apply them consistently. make judgements and estimates that are reasonable and prudent. state whether applicable accounting standard5 have been followed, subject to any material departures disclosed and explained In the financial statements,. and prepare the financial statements on a going concern basis unless it is inappropriate to presume that the registered social landlord will continue in business.
Llewellyn Almshouses Financial Statements Year ended 31 March 2025 REPORT OF THE TRUSTEES The Trustees are responsible for keeping proper accounting records which disclose wlth reasonable accuracy at any time the flnancial position of the registered social landlord to enable it to ensure that the financlal statements comply with the Tfu5t Deed, The Housin8 and Regeneration Act 2008 and The Accounting Requirements for Registered Social Landlords General Determination (Wales) 2015. They ore also responsible for safeguarding the as5et5 Of the registered social landlord and hence for taklng reasonable steps for the prevention and detectlon of fraud and other irregularitles. FOR AND ON BEHALF OF THE TRUSTEE5 Councillor A Lodwlg CHAIRMAN Date: ....
Llewellyn Almshouses Financlal Statements Year ended 31 March 2025 STATEMENT OF COMPREHENSIVE INCOME 2fi25 2024 Note Turnover 55,073 Grants received Operatlng expendilure Operatlng Surplus / (Deflcltl Profit on the sale of Investments 154.0831 153,4231 1,650 Interest receivable and other Income 4,186 Movement in falr values of investments 2,658 Surplus I (Defleltl before taxatlon 10,648 8,494 TaxatSon Surplus l {Deflclt) for the year 8,494 The results relate wholly to continuing activities of the entity. The income and expenditure account was approved by the Trustees on: Signed on behalf of the Trustees .Trustee/Chairman Cllr A Lodwlg rustee Cllr Tim Bowen
Llewellyn Almshouses Financial Statements Year ended 31 March 2025 ACCOUNTANTS, REPORT TO THE BOARD ON THE UNAUDITED ACCOUNTS OF LLEWELLYN ALMSHOUSES We report on the accounts for the year ended 31 March 2025 set out on pages 6 to 20. RespectSve responsibilitles of the board and the Independent reportlng accountant The Board of Llewellyn Almshouses 15 responsible for the preparation of the accounts, and they consider that Llewellyn Almshouses is exempt from an audlt. It is our responsibillty to carry out procedures designed to enable us to report our opinion. Basls of oplnlon Our procedures consisted of comparing the account5 Wlth the books of account kept by Llewellyn Almshouse5 and making such limiled enquiries of the officers of Llewellyn Almshouses as we tonsidered necessary for the purpose of this report. These procedures provide the onty assurance expressed in our opinion. Opinlon In our opinion: the accounts for the year ended 31 March 2025 are ill accordance with the accounting records kept by Llewellyn Almshouses under paragraph 13512llal of the Housing and Regeneration Act 2008. havlng regard only to, and on the basis of, the information contalned in the accounting records.. the accounts complywith the requirements ofthe Charitie5 Act 2011. Llewellyn Almshouses has satlsfied the condition for exemption from an audit of the accounts forthe year ended 31 March 2025 specifted in section 136161 ofthe Housing and RegeneratSon Act 2(X)8,' the accounts compty with the quirementS of the Housing Regeneration Act 2008 and the Accounting Requirements for Registered Social Determination (Wales) 2015. WBV Limited ICAEW Chartered Accountants Woodfleld House Castle Walk Neath SAII 3LN Date..
Llewellyn Almshouses Flnancial Statements Year ended 31 March 2025 STATEMENT OF FINANCIAL POSITION 2025 2024 FSxed 055et5 Noto Housing propertie5 Less SHG 229.979 232.253 {22L153j 1221.1531 Plant and Equipment 8A25. 11,100 Current assets Debtors io 2,776 116,333 71.545 190.654 Inve5ttnents I .120.200 77,096 Cash and cash equlwdlent5 Creditors.. amounts falllng due within one year 12 118,3901 121,7711 Net current assets 18L805" 168,8B3 Total assets less current Il#bllltle$ 190,631 179.983 Net at$ 190,631 179.983 Capltal and rÈsÈrve$ Exchequer Contribuilons Endowfflent Fut Income and Expenditu Reserve Designaled ReseNes Total copII?l and rèserves 4.'798 4,798 90,206 84.979 179.9B3 13 95.685 190,631 These financial statements were approved and authorised for Issue by the Trustees on: Slgned on behalf of the Trustees:
Llewellyn Almshouses Financial Statements Year ended 31 March 2025 STATEMENT OF CHANGES IN RESERVES InEome & Expendltvie Reserve Deslgnated Endowmenl Reserves Fund 2025 2024 At beglnnlng ol yeaT 90,206 84,979 4.798 179,983 171,489 Surplus I (Deflcitl lor the year 10,648 10.648 8.494 Trafi5le between reseNes 110,7051 10,705 At 31 March 2025 90,148 95.585 4,798 190,631 179,983 Further detail on the reseNe movements can be seen in the notes to the accounts.
Llewellyn Almshouses Financlal Statemonts Year ended 31 March 2025 STATEMENT OF CASH FLOW .2025 2024 Note Nel tash 8enerated from operating activlties 16 17.470 Cash flow from Inve5tlng actlvltle5 Interest recetved 140 Dividends receSved 4,046 Proceeds of sale of investments Purchase of Investments 11301 Net cash flow from Invesilng actlvltles 4,056 Net Increase In cash and cash eouivalents 21,526 Cash and cash equlvalents at beginnin8 ol year 50,019 Cash and cash equlvalent5 at 31 March 2025 71.545 Cash and cash equlvalents conslsts of¥ Cash at bank and in hand Cash and cash equlvolents at 31 March 2025 71,545 71.545 77,1196
Llewellyn Almshoiises Flnanclal Statements Year ended 31 March 2025 NOTES TO THE FINANCIAL STATEMENTS SUMMARY OF SIGNIFICANT PRINCIPAL ACCOUNTING POLICIES General Informatlon and Ba51s of Pre aratlon Llewellyn Almshouses is a private reglstered provider of social housing in the Unlted Kingdom. The address of the registered office is given in the iriformation on page l of these financial statements. The nature of its activltles Is explained in the Trustees Report on page 2. Llewellyn Almshouses constitutes B public benefit entity as defined by FRS 102. The financlal statements have been prepared in accordance with applicable accounting stanclards, Including Financlal Reporting Standard 102. The Financial Reporting Standard Appllcable in the UK and Republic of Ireland IFRS 1021. the Statement of Recommended Practice for Soclal Housing providers 2018 and with the Accounting Requlrements for Registered Social Landlords General Determination IWales12015. The financial statements are also prepared under the requirements of the Houslng and Regeneiation Act 2008. The financial statements have been prepared on a going concern basis under the historical cost conventlon, modified to inclL>de certain items at fairvalue. The financial statements are prepared in sterling, which is the functional currency of the Llewellyn Almshouses and rounded to the nearest £. The significant accounting policies applled in the preparatlon of these financial statements are set out below. These pollcies have been consistently applied to all years presented unless otherwise stated. Llewellyn Almshouses adopted the SORP In the current year. social Housln Grant SHG SHG received as a grant towards revenue expenditure Is matched against that expenditure by belng Included in turnover in the income and expenditure account. The related expenditure is included under operatlng costs. SHG is recoEnised in the same period as the related expenditure provided the conditions for Its receipt have been satisfied and there is reasonable assurance that the grant will be received. Where SHG is received 3s a contribtjtion towards the capital Costs of a scheme and the propertie5 are Included at historical cost, the total grant receivèble is deducted from the cost of housing propertie5. SHG can be recycled under certain conditions, if 8 property is sold, or if another relevant event takes place. In these cases, the SHG can be used for projects approved by the Houslng Corporation. SHG to be recycled Is credited to the Recycled Capital Grant Fund/DIsposal Proceeds Fund within creditors. When any SHG to be recycled or repaid is less than the SHG relating to the disposal, the difference is treated as abated SHG. Abated SHG is treated as a component of the surplus or deflcit on disposal. SHG recelved and not matched by development expenditure or relevant expenditure in the Income and expendlture account 15 included in current liabillties. The amount of SHG In advance is calculated by reference to the aggregate of all schemes in the SHG funded development programme. io-
Llewellyn Almshouses Financial Statements Year ended 31 March 2025 NOTES TO THE FINANCIAL STATEMENTS PRINCIPAL ACCOUNTING POLICIES CONTINUED Where malor repairs are funded by grants, the grants are accounted for elther in the balance sheet or in the income and expenditure account depending on whether the major repair Is a capit31 arrangement or a revenue repair item respectlvely. In certain clrcumstances. SHG may be repayable, and, in that event, is a subordlnated debt and is accounted for as soon as the liability arlses within creditors- amounts falling due within one year. Government rants Government grants, or grants from other government like organisations are received in respect of certain repair projects. Government grants received as a contribution to revenue expenditure are recognlsed in the statement of comprehensive income on a systematic basis over the period in which the landlord recognises the related costs for which the grant is intended to compensate. The related expenditure is Included under administrative expenses. Grants are recognlsed in the same period as the related expenditure provided the conditions for receipt have been satisfied and there is reasonable assurance that the grant will be received. Works to Exlstln Housln Pro erties Expenditure on housing properties which results in an enhancement of economic benefits of the asset such as an increase in the net rental stream over the life of the property is capitalised. Improvements to property that relale to assets that have a separately identifiable life to the propertv concerned, are also capitalised but under a category separate from the property. Any works which do not result in an enhancement of economic benefit5 of a property are charged to the income and expenditure account. Thls include5 expenditure incurred to ensure that the property can maintain its existing level of net rental income. -li-
Llewellyn Almshoiises Financial Statements Year ended 31 March 2025 NOTES TO THE FINANCIAL STATEMENTS PRINCIPAL ACCOUNTING POLICIES CONTINUED Tan Ible Flxed Assets Pro rovements The property improvements are stated at cost less grants received. Tangible fixed assets (including Social housing properties) are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes cost5 directly attributable to making the asset capable of operating as intended Sltch as the cost of acquiring land and buildings, developments costs, interest charges on loans during the development period and expendlture on Improvements. Expendlture on improvement5 will only be capitalised when it results in incremental future benefits such as increasing rental Income, reducirbg maintenance costs or resulting in a significant extension of the useful economic life of the property. PRINCIPAL ACCOUNTING POLICIES CONTINUED) Depreciation is provlded on all tanEible fixed assets, at rates calculated to write off the cost, less estimated residual value. of each asset on a systematic basis over its expected useful life as follows: Land, property improvements (net of Brantsl Fixtures and flttings 4% on cost IOYO on cost Investments Investments are reco8ni5ed initially at falr volue whlch is normally the transaction price excluding transaction costs. Subsequently, they are measured at falr value through the statement of comprehenslve income if the shares are publlcly traded or their fair value can otherwise be measured reliably. other investments are measured at cost less impairment. Desl nated Reserves Designated reserves are part of unrestrlcted reserves which have been earmarked by the Board for a particular purpose. Such designations may be reversed by future Board decisions. Expenditure cannot be directly set against designated resee$ but is taken through the income and expendlture account. A transfer is then made from designated resetves as appropriate. Future Re airs and Maintenance A reserve has been establlshed to fund future cyclical repairs and maintenance being the Almshouses, liability to maintain its properties. The amount of the contribution to thls reserve is agreed by the Trustees on an annual basls. 12-
Llewellyn Almshouses Financial Statements Year ended 31 March 2025 NOTES TO THE FINANCIAL STATEMENTS PRINCIPAL ACCOUNTING POLICIES CONTINUED Extraordlna Re alrs Reserve In prior years a reSee was established to fund major repairs on the properties. The amount of the contributions to the major repalrs reserve is agreed by the Trustee5 on an annual basis. Turnover Turnover represents rental income ceivable, net of voids. Turnover is measured at the fair value of the conslderation received or recelvable. The policies adopted for the recognition of turnover are as follows.. Turnover represents rental and seNice charge5 income receivable in the year nel of rent and seNice charge loses from voids and revenue grants from the government (local authoritiesl. Pro mana edb ents Where Llewellyn Almshouses carries the financial rSsk on property managed by agellts, all the income and expenditure arising from the property is included In the statement of comprehenslve Income. Where the agency carries the financial risk, the statement of comprehenslve income includes only that income and expendlture which relates solely to Llewellyn Alm5hDuses. Restrlcted Reserves Restrlcted reserves are those reserves whlch are only expendable in accordance with the wishes of the funder or regulatory body. Restricted reserves include funds ralsed In response to a specific appeal. Expenditure cannot be directly set against restricted reseTves but is taken through the income and expenditure account. A transfer from re5trlcted resee5 is then made as appropriate. Where a restrlcted reseNe is represented by assets that are then re~valued. the revaluation element is added to the restrlcted reseNe. Endowment Fund This was established on creation of the orgonisation, Income arising from the endowment funds is treated as part of the organisatlons general fund5 and passes through the income and expenditure account. with no adjustment made to the endowment fund. 13-
Llewellyn Almshouses Financlal Statements Year ended 31 March 2025 NOTES TO THE FINANCIAL STATEMENTS 2. TURNOVER, OPERATING COSTS AND OPERATING SURPLUS INCOME AND EXPENDITURE FROM SOCIAL HOUSING LETTINGS 2025 2024 Income Rents recelvable 56.759 55,073 55.073 Grants CeIved Other income from social htsuslng lettings Turnover from soclal houslng lettlngs 56,759 55,073 Expendlture Management costs 15,613 Other costs 15,366 Malntenance costs 19,953 Losses from bad dèbts 217 Depreclatlon and amortlsètlon 2,274 Operatln8 COSt5 on soclal houslng lettlngs 54,083 53,423 Operatln8 Surplus I IDefl¢ltl on 50clal houslng lettlngs 2,676 1,650 Rent loss due to volds (memorandum note) (11,3491 16,6901 14-
Llewellyn Almshoiises Financial Statements Year ended 31 March 2025 NOTES TO THE FINANCIAL STATEMENTS 3. INTEREST RECEIVABLE AND OTHEFI INCOME 2025 2024 Dlvldends recelvable from InVestnntS 4,046 Bank and short term deposlt Interest recelvable 140 4,186 4. OPERATING SURPLUS I IDEFICITI 2025 2024 Operatlng surplus / Ideflcltl for the year Is stated after ¢harglng: Depreciation and amortlsatlon of flxed assets Independent examiners remuneratlon Ilncluslve of VATI Non audlt seNices 2,274 1,200 S. TRUSTEES EMOLUMENTS The as50ciatlon Is controlled by a voluntary committee of management who received no remuneratlon during this period12024: NIL). 6. EMPLOYEES 2025 2024 Number Number CarelDomeslic Staff Staff Costs:_ Wages and Salaries 7. TAXATION No provision has been made In the accounts for UK Corporation Tax as the association is exempt from taxation under S505 of the Income and Corporation Taxes Act 1988. 15-
Llewellyn Almshouses Financial Statements Year ended 31 March 2025 NOTES TO THE FINANCIAL STATEMENTS 8. TANGIBLE FIXED ASSETS Property Improvements Equlpment Total Cost At beginnlng of year 284,807 11,324 296,131 At 31 March 2025 284,807 11,324 296,131 Depreclatlon At beginnlng of year Charged during the year At 31 March 2025 152,5541 111,3241 163,8781 12,2741 12,274} 154,8281 (11,3241 166,1521 Net book value At 81 March 2025 229,979 232,253 229.979 At 31 March 2024 232,253 9. SOCIAL HOUSING GRANT 2025 2024 Balance brought forward Recelved in the year Balance carrled forward 221,153 221,153 221.153 221,153 10. DEBTORS 20Z5 2024 Amounts due wlthln one year Arrears of rent and service charges Less.. proiA5ion for bad and doubtful debis 564 1,818 14301 1,388 1279) 284 Sundry Debtors Prepayments Z.075 538 543 2,897 2,776 16-
Llewellyn Almshouses Flnancial Statements Year ended 31 March 2025 NOTES TO THE FINANCIAL STATEMENTS 11. INVESTMENTS 2025 2024 At beglnnlng of year Relnvestment of accumulation dlvldends ¥. 116,.333 . 134 113,545 130 Dlsposal at valuation Revaulation In year At ai March 2025 2,658 120,200. 116.333 The hi5torlcal cost of investments above Is as follow5:. At l Aprll 2024 and 31 March 2025 76.567 The investments are managed by Blackrock Investment Management and are held in 8la¢krock Charities UK Equity Fund and Blackrock Charities UK Bond Fund. Inocme received from the Investmenst in the period was as follows.. 2025 2024 Dlvldends and Interest 4,089 4.046 Investments are included at fair value with the surplu5/deficit reflected through the Statement of Comprehensive Income. 12. CREDITORS 2025 2024 Amounts due wlthln one year Trade Credltors 1,779 16,610 1,070 Accruals 20,701 21,771 17-
Llewellyn Almshouses Financial Statements Year ended 31 March 2025 NOTES TO THE FINANCIAL STATEMENTS 13. DESIGNATED RESERVES EKiraordlnary Repalr Fund Cycllcal Malntenance Fund 2025 2024 2025 Balance brought forward Transfer from revenuè fe5eFve 42,541 5,400 47.941 42,438 8,400 SO38 84,979 13,800 83,402 13,150 96,552 Transfer to revenue reserve re expèrtdilure In the year 13,0951 {5,095) 111,5731 Transfer to revenue serve Balance cariled forward 47,941 47.744 95,685 84,979 TRANSFER FROM REVENUE RESERVE RE EXPENDITURE IN THE YEAR Extraordlnarv Repalr Fund Cycllcal Maintenance Fund 2025 Repair expenditure inCUrd on project General repairs Professional fees 3,095 3,095 3,095 3,095 Transfer from designated funds 3,095 3,095 18-
Llewellyn Almshouses Fiiiancial Statements Year ended 31 March 2025 NOTES TO THE FINANCIAL STATEMENTS 14. INCOME AND EXPENDITURE RESERVE Income & Expendlture Resèrve Investment Revaluatlon 2025 2024 Note At beglnnlng of year Surplu5 1 (Deflcltl for year Revaluation of investments 50.442 39,764 90,206 6,914 3,733 110.7051 90,148 83,289 5,837 2,658 11,5771 90,206 6,914 3,733 Transfers to designated reseNes At 31 March 2025 15 110,7051 46,fj51 43.498 15. NET TRANSFER TO DESIGNATED RESERVES 2024 Transfer from designated reserves re expenditure ITI the year Transfer to deslgnated Sewe5 Transfer from designated reserves 11,573 113,1501 113,800) 110,705) 11,5771 19-
Llewellyn Almshouses Flnanclal Statements Year ended 31 March 2025 NOTES TO THE FINANCIAL STATEMENTS 16. RECONCILIATION OF OPERATING SURPLUS I IDEFICITI TO CASH FLOW FROM OPERATING ACTIVITIES 2025 2024 Surplus I (Deflcltl for period before revaluation of Investments 6.914 5,837 Interest recelved 11401 14,0461 2,274 Dividends received 14,0891 2,274 Depreciation of tangible flxed assets Surplus on dlsposal of invèstments IlncYeasel/decrease In debtors Increasèlldecreasel Sn credltors 1,361 12,184 13,381} Net cash flow from operatlnB actlvltles 1,447 17.470 17. UNITS IN MANAGEMENT The total number of general needs unlts managed by the Almshouses as of 31 March 2025 was 10. All the units are managed on behalf of Llewellyn Almshouse5 by Tai Tarian Limited. 18. RELATED PARTY TRANSACTIONS The collection of rent from tenants of Llewellyri Almshouses is overseen by officers of Tai Tarian Limlted. Further, the day-to-day administration of the organisation is similarly man3ged and a charge of £16,659 was levied in the year by Tai Tarian Litnited for these services. 19. CONTROL RELATIONSHIP5 The or8anlsation is controlled by it5 trustees. 20-
Llewellyn Almshoiises F5nanclal Statements Year ended 31 March 2025 NOTES TO THE FINANCIAL STATEMENTS PROPERTY REVENUE ACCOUNT 2024 Income Rents recelvable 55.073 Grant received 55,073 Expendlture Repalrs and mainteThae Heating and Lighting Insurance 19,953 9,047 1,112 Council Tax 1.413 2.219 15.613 49,357 Water Rale5 Management Chatges .$0,248 Surplus I (Deflcltl for year transferred to Incom• and Expendlture Account 5,716 GENERAL INCOMÉ AND EXPENDITURE ACCOUNT 2025" 2024 oiher Income Oeposit Account other Investment incorne 140 4.046 Surplus on sale ol Inve5tment5 4,186 Community Alarffl Servlce Professional Fees 140 8ank Char8es Subcrlptlons Accovntancy Fee L055es from Bad Debts 232 1,200 11501 1.200 217 Depreciation Other 2,274 Surplus for the year 403 122 sulus I IDeflcltl tranSferd from Property Revenue Accounts 5.716 Surplus I IDeflcltl for the year bèlor8 Invostmenl revaluatlon 5.839 Thls page does not form part of the flnanclal statements 21-
Llewellyn Almshouses Leonard Street Neath PRIVATE & CONFIDENTIAL WBV Llmited Woodfield House Castle Walk Neath SAII 3LN Dear Slrs, Management representatlon letter The followlnE representatlons are made on the basls of enquiiles of management and staff with relevant knowledge and experlence such as we conslder necessary In tonnection with your independent examinatlon of the rÈglstered soclal hou51ng providerfs {RSHP's1 and charlty's flnanclal statements for the year ended 31 March 2025, These enquiries have included Inspection of supporting documentatlon, where appropriate, and are sufficient to satisfy ourselves that we can make each of the following represeniation5. All representations are made to the best of our knowledge ond bellef. General l. We acknowledge that the work performed by you Is substantially less In scope than an audit performed in accordance wlth Internatlonal St8ndards on Auditlng IUKI and that you do not express an audlt opinion. 2. We conftrm that the RSHPlcharlty was entltled to exemptlon under section 144 of the Charltles Act 2011 from the requlrement to have its flnanclal statements for the flnanrlal year ended 31 March 2025 audSted. 3. We have fulfllled our responsibllitles B5 Irustees, as set out In the terms of your engagement letter under the Charitles Act 2011, the Housing Regeneratlon Act 2008 and the Accountlng Requlremenis for Registered Social Landlords General Determlnatlon IWale5} 2015 for preparing flnanclal Statements In accordance with applicable law and Unlted Klngdom Accountlng Standards (UK Generally Accepted Atcountlng Practice). for belng satisfled that they glve a true and falr vlew and for making aicurate representations to you. 4. All the transa¢tlons undertaken by the RSHPlcharlty have been properly reflected and recorded In the accountlng record5. 5. All the accounting records have been made avallable to you for the purpose of your Independent examinatlon. We have provided you wlth unrestrlcted access to all appropriate persons wlthln the RSHPlcharily, and wlth all other records and related Inlormatlon requested, Includlng mlnutes of all management and trustee meetings and correspondence wlth the Charlty Commission. 6. The flnanclal statements are free of material mlsstatements, Includlng omlsslons. There were no uncorrected mlsstatements. Assets and Ilabllltles The RSHPlcharlty ha5 5at15factory tltle to all assets and there are no Ilens of encumbrance5 on the charlty's assets, except for those tllat are dlsclosed in the notes to the financial statements.
All actual liabllltles, contlngent Ilabllities and guarantees glven to thlrd partles have been recorded or dlsclosed as approprlate. 10. We have no plans or Intentlons that may materlalty alter the carrying value and, where relevant, the fair value measurements or classlflcatlon of assets and Ilabllltles reflecied in the flnanclal statement5. Accountlng estlmates 11. The methods. data and slgnlficant assumptlons used by us In m3kSng accountlnB estlmates, and thelr related dlsclosures, ale appropriate to achieve recognltlon. measurement and di5c105ure that Is reasonable in the context of the appllcable flnanclal reportlng framework. Legal clalms 12. We have disclosed to you all clalms in connection with Iltigatlon that have been, or are expected to be, recelved and such matters, as approprlate, have been properly accounted for and dlsclosed In the flnancial statements, Laws and re8ulatlons 13, We have dlsc105ed toyou èll known Instancesof non-compliance or suspected non-compllancewlth laws and regulatlons whose effects should be con51dered when preparing the financlal statements. Related partles 14. Related party relatlonshlp5 and transactions have been appmprlately accounted forand dlsclosed lfi the financlal Statements. We have d15cIosed to you all relevant Informatlon concernlng such relatlon5hlps and transactlons and are not aware of any other matters which requlre disclosu In order to comply wlth regulatory. leglslatlve and accounting Standard requlrements. Subsequent events 15. All events subsequent to the date of the financial statements whlch requlre adjustment or dlsclosure have been properly accounted for and dlsclosed. Golng ter 16. We belleve that the R5HP/charlty'5 financlal Statements should be prepared on a going concern basls on the grounds that current and future sources of funding or support wlll be more than adequate for the HSHP/charlty's needs. We a150 confirm our plans forfuture actlonlsl requlred to enable the RSHP/charlty to continue a5 a goln8 concern are feaslble. We have consldered a perlod of twelve months from the date of approval of the flnancial siatemenls. We belleve that no further dlsclosures relatlng to the RSHPlcharity's abllity to contlnue as a 8oln8 concern need to be made In the flnanclal statements. Grants and donatlons 17. All grants. donations and other Income, the recelpt of which is subject to speciflc terms or condltlons, have been notlfled to you. There have been no breaches of terms or tondltions In ihe applicatlon of such income. Yours 51ncerely aiiie and pos Slgned on behalf of the board of trustees Date.
ThoThlrd Hoor Lèngdon Flouse donRoad aterfri)nl 5wanse8 SAI 8QY f> wbv 1£ SAI Swansea harter4d Countsnts Our Ref: DARITSIL006112a915 Tel:01792652108 Emall.'malIbV.l¢duk i.wbv.l¢duk 19 August 2025 alsoaL, Woodfield Hse Ca5tleWalk Neath SAII 3LN PRIVATE AND CONFIDENTIAL The Truslees Llewellyn Almshouses clo Neath Porl Talbot CBC Civlc Centre Neath SAII 3QZ Td-0163963S555 Dear Sirs, The purpose of thls letter, along with the attached schedules of professional seNlces and standard tem15 of buslness. 15 to set out the basis on whlch we act as accountants of Llewellyn Almshouses (the RSHP) and the respectlve areas of responslbility of the Board, comprislnB of those ¢har8ed with governance of the RegIsted Soclal Houslng Provl(ler {RSHPI, and of ourselves. Professlonal servlces provlded 1.1 The professional servlces you have asked usto carry out, togetherwith the estlmated fees, excluding dlsbur5ements and VAT, are as follows: Provlsion of an Independent reportin8 accountaT7I'S report on the flnancial statements lappendlx IA) £1,000 Totsl annLtal fee £i.000 1.2 The fees are based on our discusslons. Should these detalls subsequently prove to be Inaccu¥ate, we reseNe the rlghi to dlscuss With you at the earliest opportunity changes to the fees. 1.3 The scope of these seNlces Is set out in the attached schedules ot profe55ional services and should be read in conlunctlon wlth our most recent stat)dard terms of busln@ss at appendiK 2. Any additlonal servlces that you ask us to provide wlll be subject to new OY amended tem)s of engagement. RthrytN(J 5clE(ml 1.4 No disbursement or expenses other professlonal fees are expected to be incurred. Ten3neéJJDJ Llmltallon of liablllty We draw your attention to the Ilabllity caplsl agreed wlth you when we d15cussed the scope of otsr seNices to be provlded. These are summarised below and include reference to the appendlces In this letter where they are explalned In greater detall. Fra141 Provlslon of an Independent ieportlng accountant's report on the ftnanclal statements lappendlx IAI tLbkAACSKA £10,000 ¢*IAgTÉftED X¢•TANtS
Communlcitlon Throughout the engagement we wlll communicate with Bev Adams at Tal Tarian by telephone and by emall. It has been agreed that she wlll represent the RSHP In relatlon to the RSHP'S accounts. Agreement otterms 4.1 We may need to process and hold personal data about you and Indlvlduals associated wlth yov. Our prlvacy notice, which can be found on our website at www.wbv.lt .uk which explalns how we process personal data In respect of the varlous servlces that we provide. 4.2 The iem)s set out In thls letter, whlch Includes the schedule5 Of professlonal SeIce5 and standard terms of buslness, sh311 take effect Immedlaiely upon your counterslgnlng this letter and returnlng it to us or upon the commencement of the accounts for the accountin8 period ended 31 March 2025, whichever Is the earller. 4.3 These terms wlll also apply to any matter dealt wlih In respect of periods prior to the perlod ended 31 March 2025. 4.4 Once it has been a8reed, th15 letter wlll remaln effective, from one year to another. until it 15 replaced. In the Instance of varlatlons made by either partles or termlnatlon of thls en8agement, notite must be seNed in wilting. For further cancellatlon terms please refer to section 19 of our standard terms of buslness. We shall be grateful If you could conflrm In writlrig your agreement to these terms by slgnln8 and returning the enclosed copy of thls letteror let us know If they are not In accordance wlth your understandlng of our terms of engagement. Yours falthfully. Slgned on behalt of WBV Ilmlted We agree to the teFms of this letter, tO8&ther with the attached schedules of professlonal seNlces and terms of buslness. Sl8ned for and on behalf of Ilewellyn Almshouse5 Print name & Positlon 10 - 2S-, Date
APPENDIX IA- SCHEDULE OF PROFESSIONALSERVICES: INDEPENDENT REPORTING ACCOUNTANT'5 REPORT ON THE FINANCIAL STATEMENTS The purpose of thls schedule io our engagement letter15 to set out the basls on which we act as independent reportlnB accountants to the RSHP and the respective responslbilities of the board, comprlsing those charged wlth governance of the RSHP, and ourselves, Your rèsponslbllltles 1.1 As board members of Llewelwn Almshouses (the RSHPI you are responslble for maintalnlng proper accounting record5 and an appropriatesystem of Internal control forihe RSHP. You are also responslble for ensudng that the RSHP prepares annual financl8151atements which glve a true and fair vlew and that have been properly prepared in accordance wlth Unlted Kingdom Accouhtlng Standards {Unlted Kingdom Generally Atcepted Accountlng Prattlcel, the Houslng and Regeneration Act 2008, 3nd the Accountlng Requirements for Reglslered Social Landlord General Determination IW8les12015 and the Charltles Act 2011. 1.2 You are also requlred to have regard to the Hovslng SORP 2018: Statement of Recommended Practlce for Soclal Houslng Provlders (the SORPI and any subsequent amendments or variatlons to thls statement. RSHP financlal statements and accounting pra¢tlce5 are expected to tomply fully, where approprlate, with the SORP. 1.3 You are respon51ble for making available to us, as and when requlred, all the RSHP'S accounting records and all other relevant records and related inft)rmatlon, includlng mlnutes of all 8eneral meetlngs that we need io do our work, and addltlonal lrtformallon that we may request, 1.4 We are entltled to require from the RSHP'S officers and employees such other Informatlon and explanations as we Ihink necessary for the performance of ouy dutles as reptsrtlng accountonts. 1.5 You are responslble for deteymlnlng whether, in respect of the year, the RSHP meets the condltlons enabllng 11 to di5apply the requirement to have an audlt of the flnan¢l31 statements set out In the Charities Act 2011. 1.6 You are also responslble fordetermlnlng whetherthe constltutlon of the RSHP permit the disappllcation of the requlrement to appolnt a quallfled audltor each year to audlt the fifianclal statements for that year. 1.7 If, In respect of the year, the RSHP satlsfies the crlteria èbove and there Is no directlon In pl8ce Issued by the Regulator of Soclal Housing requirlng the RSHP to appolnt an auditor to audll the accounts for the period, the availabillty of the optlon to disapply the audlt requirement Is condltiollal upon your cau5inB an independent reportlng accountant's report to be prepared In respect of the financlal statements. You are responsible for deciding whether that report shall be made and for appolnting us as independent reportlng accountants to make that report to the members of the RSHP. Our responslbillties 2.1 We shall plan our work on the basis that an independent reporting accountant's report Is required for the year, unless you inform us In wrlting that the RSHP requlre5 an audlt of the flnanclal statements. 2.2 Should you Inslruct us to Carry out an audlt. then a separate letter of engagemeni wlll be requlred.
2.3 As Independent reportin8 accountants. we have a ststutory responsibility to report to the members whether In ouroplnlon; the revenue account and balance sheet forthe yearare In a8reementwlth the books of account kept bythe RSHP; the RSHP met the flnancial ¢rlterla enabllng It to di54pply the requlrement to have an audlt of the flnanclal statements for the year: and the financlal statements comply with the requlrements of the Houslng and Regeneratlon Act 2008 and the Accountlng Requirements for Reglstered Soclal Lindlord General Dete¥mlnatlon Iwales) 2015. whe we fall to obtain all the Informatlon and explanations whlch we conslder necessary for the purposes of our dutie5 as reporting accountants we are also re4ulred to state thls f8Ct In our report. 2.4 Should our work lead us to conclude that the RSHP Is not entitled to d153pply the audit requlrement, or should we be unable to reach a conduslon on thls matter, then we will not Issue any report and wlll notify you in wrlting of the reasons. In these clrcumstance5, If approprlate, we wlll d15CU5s wlth you the need to appolnt an audltor. Scope of the reportlng accountant's work 3.1 Our procedures wlll con51St of comparlng the flnanclal statements wlth the 3ceountln8 recorijs kept by the RSHP. and maklng such Ilmlted enqLFlrles of the Board as we may considèr neiessary for the purposes of our report. 3.2 Our work as reportlng a¢countanls wlll not be an audlt of the financial statements In accordance wlth International Stsndards on Audlting IUKI. Accordingly, we wlll not seek any Independent evldence to support the entrles in the actountlnB records, the existence, ownershlp or value of assèts, or the completeness of income, liabilities and dlsclosures in the accounts. Nor will we make any assessment of the estlmates and lud8ements made by you In your preparatlon of the financlal statements. Consequently our work 05 reportlng accountants will not provide any assurance that the accountlng records or the financlal statements are free from material mlsstatement. whether caused by fraud, oiher Irregularltles or error. In addltlon we have n(F responslbSllty to determlne whether you have malntalned proper accountlng record5 and we wlll not add$S this polnt unless you specifically request us, In wrlting, to do so. 3.3 As we wlll not carry out an audit we wlll be unable to provlde any assurance as to whether the flnanclal stalements give a true and fairview, 3.4 We have a professlonal rèsponsibility not to allow our name to be assoclated wlth financial statements whlch we believe may be mi51eadlng. Therefore, although we are not reqLFired to search for such matters, should we become aware, forany reason, that the financial statements may be m151eadlng and the matter cannot be adequately dealt wlth by mean5 of modlflcation of the report we will notlssue any report and will wlthdraw from the engagement and wlll notlfy you In wrltlng of the reasons. 3.5 As part of our normol procedure5, we may request you to provlde wrltten confimlatlon of any Informatlon or explanatlons given by you orally during the course of our work. 3.6 Our engagement with the RSHP as reportlng accoulltantsfor the purpose of preparing the independent reportlng accountant's reportls a statutory responsSbility and is distinct and entirely separate from any obllgatlons or responslbilities arislng out of ihe contractual arrangements agreed between us under which we are to provlde the other professlonal SeIce5 descrlbed elsewhere withln our engagement terms.
Umltstlon of Ilablllty 4.1 The maxlmum ag8regate amount of the Accountant's Llmbllity to the Company shall not exceed the sum of 10 times the fees payable lexcludlng expenses and Value Added Tax) referable to the financlal period In quesilon. 4.2 You agree to hold harmless and indemnlfy us, our partners ond stoff against any mlsrepresentatlon {Intentiunal or unintentlonall supplled to us orally or in wrllin8 In connectlon wlth this 88reemet)t.
APPENDIX Z- TÉRMS OF BUSINESS Applicable law 1.1 Thls enEaEement letlershall be governed by, and construed In accordanto wllh En81ish law. The Courts of England and Wales shall have exclusive lurisdlction In relatlon to any clalm, di5PUte or dlfference concerning ihe engagement letter and any matter arSslng from It. Each party irrevocably waives any rlght It may have to object to an actlon being brought in those Courts, to claim that ihe action has been brought In an Inconvenient forum, or to clalm that those Courts do not have lurlsillctlon. 1.2 Persons who are not party to thls a8reement shall have no rlghts under the Contracts IRlghts of Thlrd Partie51 Act 1999 to enforce anyterm of thls agreement, Thls Clause does not affectany rlght orremedy of any person whlch exlsts or Is avallable otherwise than pursuant to that Act. 1,3 The advice we give you Is for your sole use and15 confidentlal to you and w511 not con5tltute advice for any thlrd party to whom you may communlcate It, We will accept no responsibllity to thlrd parties for any aspect of our professlonal seTvlces or work that Is made avallable to them. Qua15ty of servl¢e We alm to provide you wlth a fulty s8t15factory servlce and Mr David Rowe as en8agement partner will seek to ensure that thls Is so. If, however, you are unable to deal wlth at)v difficulty through him and hls team please contact Mr Rlchard Chapple. We undertake to look Into any complalnt carefully and promptly and to do all we can to explaln the p051tion to you. If we do not answer your complaint to your satisfaction you may of course take up the matter with the Instltute of Chartered Accountant5 In England and Wales by whom we are regulated. Cllent monles 3.1 We may, from tlme to time, hold money on your behalf. Such money wlll be held In trust In a cllent bank account. which Is segregated from the flrm's funds. The account will be operated. an(1 all funds dealt with, In accordance wlth the Clients, Money Regulations of the Instltute of Chartered Accountants in En8land and Wales. 3.2 All client money wlll be held in an interest-bearlng account. In order to avoid an excesslve amount of admlnlstratlon, Interest will only be pald to you where the amount of interest that would be earned on the b81ances held un your behalf in any calendar year exceeds £25. Any such interest would be calculated uslng the prevalllng rate applled by Barclays Bank PIC for small deposlts subject to the minlmum period of nt)tlce for wlthdrawals.I Isubject to any tax le8islatlon, Interest will be paid gross. 3.3 If the total sum of money held on your behalf exceeds £10,000 for a perlod of more than 30 days, or such sum Is Ilkely to be held formore than 30 days, then the moneywill be placed in a separate interest- bearlng cllent bank account deslgnated to you. All Interest earned on such money will be paid to you. Subject to any tax legislatlon, Interest wlll be pald gloss. 3,4 We wlll retUFn monies held on your behalf promptly as soon a5 there Is no lonBer any rea50n to retaln those funds. If any funds remain In our cllent account that are unclalmed and the cllent to whlch they relate has remalned untraced for five years, or we cease to practlse. then we may pay those monles to a registered tharity.
INVESTMENT ADVICE 4.1 Although we are not authorlsed by the Flnanckl 5ervSces Authorlty to coftduct Investment Business, we are Ilcensed by the Institute of Chartered Accountants in England and Wales to provide certain Ilmited investment services where these a complementary to, or arlse out of, the professional servlces we are provldlng to you. 4.2 Such assistance mby intlude the following:_ Advlslng you on Investments Eenerallyi but not coMmend1n8 a partlcular investment or type of Investment. Referring you to an Pemiitted Third Party IPTPI lan independent flnr¢ authoyised by the FSAI and assi5tlnB you and the authorised third party during the course of any advlce given by that party. This may include comment on. or explanation of, the advice received (but we wlll not make alternative recommendatlonsl. The PTP wlll Issue you with h15 own terms and condlllons letter, wlll be remunerated separately for hi5 servlces and wlll take full responsiblllty for compliance with the requirements of ihe Flnanclal SeNices and Markets Act 20(10. The firm may receive comm1551on from such an introductlon, In which case you will be fully informed of the expected size and nature of such commlsslon at the time of the introductlon; Advlslng on the sale of a contractually based investfflent other than dlsposlng of any rlghts or Interests whlch you may have as a member of a personal pension scheme; AdvlslnB and asslstlng you in transactions concernlftg shares or other securltles not quoted on a recognised exchange; Managing Investments or actlng as trustee lor donee of a power of attorney) where decisions to Invest are taken on the advice of an authorised person. 4.3 We may also, on the understanding that the shares or other securities of the company are not publlcly traded: advise the companyi exlstine or prospeetNe shareholders in relation to exerclsing rlghts, taking beneflt5 or share options valuation ?nd methods: arrange any agreements In connection with the Issue, sale or transfer of the companWs shares or other securitles- arrange for the issue of the new shares; and • act as the addressee to receive confirmation of acceptance of offer documents etc. 4.4 If you are dissatlsfled In any way with our seNlces described In thls secilon, you should follow the procedures set out in the "Qualltyof servlce" sectlon below. In the unllkelyevent that we cannot meet our liabilities to you, you may be able to clalm compensatlon under the Chartered Accountants, Compensatlon scheme.
FEES 5.1 Our fees are computed on the basis of the tlme spent on your affairs by the partners and our staff, and on the levels of sklll and responslblllty Involved. Our fees wlll be charged separately for each of the maln classes of work described above, wlll be bllled at appropriate interva15 dtsrln8 the course of the year, and will be due on presentatlon. 5.2 If Itls necessary to carry out work outside the responslbllltles outllned In thls letter It wlll Involve addltlonal fees. Accordingly we would Ilke to polnt out that It 15 In your Interests to ensure that your records etc,, are eompleted to the agreed stage. 5.3 We will, at your request, estlmate fee5, where posslble. If the amount of work Ilkely to be Incurredls ncertaln, the estlmate of fte51s bound to be uncertaln. Where an estlmate has been glven but the amountof work appears Ilkelyto Involve a 5ub5tantially hl8hercharge than the estimate, we wlll Inform you. 5.4 Occasionally, It may be necessary for us to take advice on your affalrs from specialists not employed by us, such a5 Tax Counsel for example. Where fees for such 3dvice are Ilkely to be substantlal, and therefore passed on to you as a speciflc charge, we wlll obtaln your agreement before Incurring thls expense on your behalf. You will be responslble for all fees Incurred by u5 on your behalf, 5.5 Our normal practlce is to render fees on the completlon of the specific work, usually on the approval of the work by you, Where work15 Incomplete due to circumstances beyond our control, a fee may be rendered on account. All such fees rendered on account wlll be taken Into account when the flnal fee Is rendered for completed work. 5.6 It Is our normal practice to request that cllents make arrangements to pay a proportion of thelr fee on monthly standln8 order. These standlng orderswlll be applied to fees ar151ngfrom work agreed In this letter of engagement for the current and ensuinB years. Once we have been able to assess the amount of work and tlme Involved we would be 8rateful If you would agree to payan amount to us on a regular basis. 5.7 Our terms relating to payment of amounts Involced and not covered by standlng orders, where appropriate, are strlcily one month followlng the month of the invoice date. Interest will be charged on all overdue debts at the rate stated on the invoice, which is curtlY Barclays base rate +8%. or at the rate for the tlme belng appllcable under the Late Payment of Commerclal Debt5 Ilnterestl Act 1998, whlchever Is the higher. 5.8 In addition to the Interest charged, if involces are not settled within one month followln8 the month end of the involte date. a reminder letter wlll be Issued. Thls wlll be char8ed at £25.00 plus VAT. If payment is not received wlthln 7 days of the flrst reminder letter a further letter will be sent la150 charEed at £25.00 plus VATI and the debt will be passed to a debt collector. Once the debt has been passed to a debt collector, any costs incurred, Includlng an admlnistration fee for our tlme in providlng a debt collector wlth copy invoice5 etc., wlll be recovered from you. 5.9 We offer a range of facllltles for the settlement of our fees. Fees may be settled by cheque, deblt card, BACS or by credlt card. Payment can also be made by Standing order or direct deblt In advance. Dlrèctor8lShareholdBr$ liablllty Notwlthstandin8 that this Is an engagement wlth Llewellyn Almshouses. we reseNe the rlght, at any tlme, to Instltute action or legal proceedlngs for unpald fees. solely against any or all of the dlrectorslshareholders of Llewellyn Almshouses, in thelr personal tapacity, andlor we reserve Ihe rlght to Joln any or all of the dlrectorslshareholders as defendants/respondent5, in any action or proceedings Instltuted agalnst Llewellyn Almshouses. should we elect to do so.
Retentlon of and acce5S to record5 6.1 Durlng the course of our work we wlll collect Informatlon from you and others acting on your behalf and will return any original documents to you following the preparatlon of your accounts and returns. 6.2 Wh115t certain documents may legally belong to you, we Intend to destroy correspondence and other papers that we store whlch are more than seven years old, other than documents whlch we con51der to be of continuing slgnlllcance. If you requlre retentlon of any document you must notlfy us of that fact In wrltlng. Pyoceeds of Crlme Act 2002 and Money Launderfng Regulat(ons 7.1 In common wlth all accountancy and legal practlces, we are required by the Proceeds of Crlme Act 2002 and the Money LaunderlnE Regulations to: have due diligence procedures for the identlflcation of all cllents,. maintain appropriate re¢oFd5 of evidence to SLlPPOrt customer due dillgence; and • report In accordance wlth the relevant l@glslatlon and regulatlons. Electronic communlcatlon 8.1 Internet ¢ommunltations are capable of dat2 corruptlon and therefore we do not actept any responslblllty for changes made to such communicatlons after their despatch. It may therefore be inappropriate to rely on advlce contained In an e-mall wSthout obtaining wrltteh conflrmatlon of It. We do not accept responslbility for any errors or problem5 that may arise through ihe Use of Intemèt communlcation and all risks connected wlth sendlng commercially sensltlve Information relatln8 to your bu51nE5S are borne by you. If YOLF do not aBree to 8ccept thls rlsk* you should notify u5 In writing that e-mall 15 not an acceptable means of communlcatlon. 8.2 Some communlcatlons wlll be made through our Secure Document Exchange area, Thi5 allows us to exchange confidentlal datè wlth our cllents In a secure manner. All data is held in a secure envlronment and transm5tted over Industrlal Standard ssl connections. Our Secure Document Exchange system is compliant wlth the provlslon5 of the Electronlc Communicatlons Act, while documents are encrypted and stored on seNi¢es based in the EU. Documents can be approved I'e-Approvol') with a log of secure and tamper-proof approved PDF'S malntained. 8.3 It Is the re5ponslbility of the reciplent to carry out a vlrus ¢heck on any attachments received. Data Prolectlon 9.1 TD enable us to dlscharge the servites agreed In thls engagement letter, comply with related legal and regulatory obligatlons and for other related purposes Includlng updating and enhancing client records and analysls for management Purposes, as a dala controller, we may obtain. use. process and dlsclose personal data about lyou l your buslness l Company / partnership l its shareholders / members l officers and employeesl as de5crlbed in our prlvacy notice. We confirm when pro¢esslng data on your behalf that we wlll comply wlth the provlslons of all relevant data protectlon leglslatlon and regulation, includln8 the Data Protectlon Act 2018. the General Data Protection Regulatlon IGDPRI and any related regulatlons.
9.2 You are also an Independent controller responsSble for complylng wlth data protection legislailon and iegulatlon In respect of the personal data you proce55 and. atcordlngly where you dlsclose personal data to us you confirm that such dSsc105ure Is fair and lawful and olherwlse does not contravene relevant requirements. Nothlng wlthin this en8ègement letter relleves you as a data controller of your own dlrect responsiblllties and Ilabilltles under dato protectlon leglslatlon and regulation. 9.3 Our privacy notlce. whlth can be found on our webslte at www.wbv.Itd,uk explains how we process personal data in respect of the varlous 5ervlces that we provlde. 10. Confldentlallty Where you give us confidentlal Informatlon, we conflrm that we shall at all tlmes keep It confidentlal. oiher thèn as required by law or as provided for in re8ulatOry* ethlcal or other professional statements relevant to our enBagement. 11. External revlew As part of our on8olng commltment to provlding a quality serv1, our flles are perioditally sublect to review by an Independent qU31ity control body. These revlewers are highly experlenced and professlonal people and are bound by the same requirements of conftdeniSallly as us. 12. Professlonal rules and pracilce guldellnes We wlll observe and act In accordance with the Ibye-laws, regulations and Code of Ethlts of the Institute of Chartered Attountants In England and Walesl and accept Instructlons to act for you on thls basls. In particular you glve us ihe authorlty to correct errors made by HMRC where we become aware of them. We wlll not be liable for any105s. dama8e or cost 8rislng from our compllance wlth statutory OT Tegulatory obligations. You can see coples of these requlrements In our offites. The requlrements are a150 avallable on the internet ai www.Icaew.comlmembershandbook. 13. Confllcts of Interest 13.1 We reserve the rlght durln8 our engagement with you to dellver servlces to other clients whose Interests mlght compete wlth yours or are or may be adverse to yours, subject to Our confidentiallty clause. We cunflrm that we will notlfy you immedlately should we become aware of any confllct of Interest Involvlng us and affectlng the Company. 13.2 If a conflict of Interest should arlse, either between two or more of our cllents, or in the provlsion of multlple service5 10 a slngle cllent, we wlll take such sleps as are necessary to deal wlth the conflict. In resolvlng the confllct. we would be gulded by our Code of Ethic5 which can be viewed on the InteTnet at the address above, in 5ectlon 3. sub-section 220. 14. The Provlslon of Servlces Regu5atlons 2009 Details of our profe551onal Indemnlty Insurer can be found on our webslle at www.wbv.Itd.uk under Disclalmer Terms. The territorial coverage is worldwlde excluding professlonal buslness carrled out from an office In the United States of America or Canada and exclude5 any attion for a claim brought In any court In the Unlted State5 or Canada. 15. Tlmlng r>f our servlce If you provlde us wilh all informatlon and explanatlons on a timely basls In accordance wlth our requlrements, we will plan to undertake the work withln a reasonable period of tlme In order to meet any regulatory deadllnes, However. failure to tomplete our seNices prlor to any such regulatory deadline would not, of Itself, mean that we are Ilable for any penalty or addltlon81 costs arislng.