REGISTERED COMPANY NUMBER= 01073381 (England And Wales) REGISTERED CHARITY NUMBER: 265008 Report of th¢ Trust Dd GTOWP Fin#D¢i•I Ststrmttsts lor the Y¢r Ended 31 Marth 2023 BAROD PROJECT X¢ÉnwJin Audi¢ Limited Chartered Accountants & Siaruiory Auditors Highdale Hous¢ 7 CeniTe Court Treforesi IrMtU5trial Est#te Pontypridd Rhondda Cynon Taff CF37 SYR 'A(IUPFE9* 2111212023 COMPANIES HOUSE A17
BAROD PROJECT Contents of the Group FinaTheil Statements lor the Yer Ended 31 Mareh 2023 Page R¢port •fth¢ Tru$tees I to 6 Report of tht Indeptndeot Auditors Consolidated Ststtmtnt of Finneial Activitie5 10 Consolidated B•lante Sheet COMnY B¥lanct Shert 12 C•nsolidaie41 Cx$h Ilow S¢•temellt P4•t# to tht Consolidated Csh now stsltmtnt 14 Iyottj to the Consolidated F•w*ntial Stateents IS to 27
BAROD PROJECT Report of the Trtyste¢s for the Yur Ended 31 March 2023 The TnJ5tccs who 4r¢ also DiTcciors of the Charity for ih¢ puryx)ses of the C(xkpanies Ad 20(, presemi iheir repwt wilh the ¢onsolidat¢d finaJJrial stam¢nts of the Charity and its $ubsidiarie5 for ihe ycar ended 31 Mah 2023 which arc also prePd to meet th¢ reqU1mEn(S for a direciot5' rcw)rt and accounLS for Comwies 2(M>6 putrx)se5. The fithathtiaj statements comply with the Charities Act 201 l. the Companie5 A 2. the Memorandvrn and Article5 of Association and Aceouniin8 and Reporting by Chariiies.. Swemeni of Recommended PwLiCe applicabl¢ io charities pr¢paring their accounis in accordance with thc Financial Reponing Sthndard applicable in th¢ UK and Rcpublicof Ir¢land IFRS 102) l¢ffeetive l January 20151. OWECTIVESANDACTIVITVES Obj¢¢¢iv¢s #nd #ims Barod 15 a Third sector Org3ni5atian (klivtrin8 a range of sttvitts w those who are vulncrablc aj m•Jginaliscd a5 a sU1¢ of iheir own or someone else's dru8 andlor alcohol us4 10 improvc their phy5kcal. social aDd eTnotional wellbcing and to rosier rttovtry.Additionally wc airn kn improve individua15'. communsii¢5 5o¢iai¢s widEf5thnding of substan¢¢ us¢ and lse awareness rthe r¢laiion5hip bdween 5ubswKe u. vulnwwbility arKI uEIusion. Vislott Barod $ io bc recognised by its key stakeholders the leJin8 providu of Inrthl¥C and quality seryi5 WiThin th¢ drug and alcohol sector. Our vision 15 to bring th>ul FQ5iiiVe And 5uMain¢d ¢hangc for individu$ and tomrnuniti¢s by SUPPOrtin8 the aspirations and nccds of thos¢ afFected by their own or some¢)ne cl.$ substsnte use and by offering opw)rb]nitits aimcd minimisin8 hann and m&ximisiD8 resilience. Values Barod value5 llgrted by the whole icaffl including Board of Trusleth Stsff, VoluThte¢TS and p)ple who use 0r seThice& These valu¢5 guid¢ th¢ way we bthwve •JKI how we d¢liv¢i w¥ic¢s. Our values are: Adaptsbilily - Empathy Posilive Attitude Intrgrity We believe ihai individuals and their cxp¢rien¢es art un¥que. Evwthing else flows from this. the grviee5 we deliver need to be p¢rson ¢entr¢d. flexible arKi widE-r8n8lrtg 10 meet th¢ varyin8 Theeds of people who use our scryice5.. We believe all individuals are entiiltd 10 rtspcci and di8nitx wiihirt a Safe cnvirontrtnl. Welsh Governmcnt require all service PTovi¢Jers lo submii PLwlat¢ a sulk of National Key Perforrntsn¢e Indicators INKPI). Th¢5c are follow5.' K¢y Ptrformante Indrtator Ineidences ofclienis who do notarnend (DNA) orrwnd follow up p05t a55¢5sment. National tar8ci is or bclow, Barod services achieved aft average of1.8%12022 .. 4.6%) Performance IDdi¢•tor 2 ArhitY¢ a waiting time of lty than 20 working days bcn¥e¢n r¢f¢trnl and treatm¢nL National targ¢t 15 8Or alMJYe. 8arod 5¢rvicc5 achievcd aTh avcrnge of 87.2%(2022 .. 90.1%) Key Ptrformfftce Indictor 3 Subsianee usc 15 reduced or urt¢han8ed for problcmatit subsiartce5 betwe sthrt and feceni rcviewlcxit Tre4irKni Outcomcs Profile (TOPI. National target 15 86.5Y• or atrxve, BaJod seryices achit¥ed an average of 89.7% (2022.. .3%) Key Ptrform8nte Indicator 4 Qtsality of lift is improved or unth2n8td ktwetn Stan 2nd MOA rtceni reviewlexiL TOP. National tsrget 15 84.2Yl or th)ve. Barod 5¢ryices achiev¢d an aver4e of 83.5Y• (2022.. 84.n6) ILey Ptrformante Inditator S Perttnta8e of cases closed {with a treatment datc) tr¢athi1 compleied. Natiottal w8ei 15 76.Th Barod servitts achieved an av¢tsge97.PA (2022.. 84.Ph) All seNiees are meastsrtd on thest NKPIS and *Jdiiionalty thcrc may also be loc41 wfonnancc measurements dq)en(5ing on the ATea PlnIng Boord. Page I
BAROD PROJECT Report of the Tr¥$1tt5 ror the Year Ended 31 M8r¢h 2023 OWECTIVESAND ACTIVITIES Significant <tivities Barod provide a range of kryices a¢ross a wide geography re& stCes e deliverrd in five of the severt Area Planning Boards in Wales. The naDJre and scop¢ orth¢ servitts will d¢p¢nd on th¢ ¢ommissionittK strateEY of ¢a¢h Area PlanAin8 Board. W¢ have a rangc of Adult and Y(MLrtg Peop$ servi¢es me of these sts¥ic¢s art in Consortium orAlliance5 and othcts where we are the sole provider. Scryices and inielveniions are as follows= EnBa8em¢nl 5¢rvjce5 Brief inr¥¢tiOnS Assessment and crtre planninB Evidencc bd psycho-social inieryention5 Outreach Media ¢arnpaigns Needle ¢x¢hang¢ Drop in TrdininB and liaison Div¢rsionary al¥l[l¢S Recovery based tDt¢rvenlion StnlctuT coun5elling Advice and 8uidanee and general sup Family support and iniervcniis Publit benefit The TnJsie¢s hav¢ rtYi¢w¢d the Charily Commission's guid2nte th) public FnefiL and 28reed thai they mtet thc r¢quirem¢nts s¢1 out therein. All ourcharitablt activilics focuson Ih¢pTCVtnlion and Ireairneniof svb5thnce use. Ourser¥ices work with indLviduals familie5 and communities across South. South and We# Walts and tyjr activitie5 are Undaken to furtherour ch&Titabl¢ purpose5 for ihe public benefji. Page 2
BAROD PROJECT
Report of the Trusttts
lor the Yer Ended 31 Mareh 2023
STRATEGIC REPORT
Achievement and performance
Charitable activilies
The Charity coniiThucd io follow Welsh Govcrnrnent guidance in fflation to the COVID-19
Th¢ Charity subscquenily rciurncd io Providing a full Sp1[ of s¢rYitts and th¢ r¢sumpiion of face-to-face service5 and
other aciiviiies including %hLK>I ¢lOn, ra.[0•face group & aclivitits and PTtvtntion work.
The Charity cclebraied it's 50th Birthday in Seplcmbcr 2022 and rr£oBnised the achitvtmeE)s and Work undertaken by all.
over the last 50 ycars
We continued with adapting lCe5 implcmeniing rfw innovativ¢ 8pproa¢h¢s io s¢rvice delivuy
We continued 10 see incre&%d access of all our seryitt5- 50m¢ of th< via digithj plaifotms int111n8 our Wtbchai
service
We havc continued with the ran8e and diversiry of our r¥IreS acr¢)55 4 larger g¢ogr¥phico18rt
The Charity successfvlly implerncnd the new lnr¢gTal %rvic¢ foT 8ridgend from 1st April 2022.
A numberof the Charity'5 Needle Exchanges have ten highlighied a5 king 50m¢ of th¢ busi¢si in Waks.
The ChiLY continued io dispense naloxone kits w peopl¢ who u5¢ our s¢rvi¢¢s irt¢ludin8 intrtyjuction of the new online
'Click & tkliv¢r' 5ervic¢. This PToBr4mm¢ h35 lcd the 5aviTrB of numtrous livts.
The Chariry succe55fully irnplcmenj ihe ncw Intcgraicd s¢rvic¢ for Cardiff Th¢ Vale with Alliat)ce ParLners
IKal¢idoswpe and R¢rovery Cymru) (Torn 151 Augu512022. followirtg a ¢ompetitive tender process.
Th¢ Gwenr Drug and Akohol Stryir¢ IGDAS) ha5 ron1inu to OP¢t successfully, where we panicipate a5 a consortium
partner with Kaleid05copc and G4S. The new reknigntd servicc w&$ S1cESSfullY implememted from 1st April 2022.
following a Te-cotnmissionithg exercise.
Th¢ Dyfed Drug and Alcohol krvic¢ has ntinued opetate g]c£essfully. where we 8Te the txad proyidcr with
eonsortiutn partntts Kaleidosco and G4S.
The inlt8raied service for Adults and Childltn & YoLm8 People in Cwm Taf h85 opcraicd succe55fully throughout the yeai.
All other Adul¢ and Children & Ywng Peopl¢ seTYices have Continued 10 5ucce55fully.
The Charity's social enterpTise, Tyfu Café Continued to operate and resumcd full seryice following Welsh Govwntnent
Tcsificiions on such venuts.
Thc Charity h&$ conlinutd its partntrship5 With jocal FrA)d Banks and other NlOnal Rcuil¢rs in c¢tsin arcas and hb5 betn
re5pon5ible fordisiTibutin£ food ItemParetIS io scr¥ice users during ihe year.
The Charity continued io be one of ihe 88encie5 the media in Wales approache5 gardIng gJ)y sub5tan¢¢ us¢ issu¢>
The ChaTity is committed 10 raisinR profil4 bui also Contribu io IM)Ih local and naiional deb around substan¢e use.
Thc Charity continucs (o havc a high profile rKesence on KKial media and ha5 expanded this to oth¢r plr0m$ as they
have become availablc.
The Chariry coniinucd to be an athive con50rtium member in delivcring th¢ (hji of Work ProgrnmrtLe with other PartntTS in Wcsicm
Bay, Cardiff &Vale and Dyfed- following a comwiiive rendering prnress
The Chariry continued its campwgn of rnising awar¢ne55 of new and emerging issues across all arw.
The Charity coniinued lis accrediiaiion a Rtal Living Wag¢ Employer
The annual Rccovery Walk was reinirojuced on a laJgcr following the removal of COVID-19 restrictions.
Th¢ Charity has ¢ontinu¢d lo grow 3nd tEo its rts¢h in thr following areas:
- Play an Adive p8rt in p18nning and irtfluerting Substan use s¢rvite delivery xross Wales.
Develop and deliver services in lint with tht Wtlsh Rtcovery Framtwork. service user involvemeni and C prnduciioTh principl¢5.
Ensure thai we maintain and moxirnis¢ a fflotivat¢d. skilled and adaptive WOTkforte.
D¢v¢lop and deliv¢r S¢Tvi¢es furth¢T. making the Tnost of ConlemjT2ry digital syyem5 and plaifonns.
PTovidc a h
BAROD PROJECT Report ofthe Trn$tees for the Year Ended 31 Mrcb 2023 STRATEGIC REPORT Finncil review Rtstrves polity The Management Commirtee have estsbl15h a p)licy wh¥bY th¢ funds noi committrd OT iThveSd in tangibl¢ fixed assets I'thc frct reserves") held by ihe charity should bc bWe¢ll thr¢¢ 3nd Six month5 oftht tesourtts expcndcd. At thi5 level. the manaBemcnt commillee feel thai they would b¢ able io Tn¢¢t the oblig&ions artd requiTemtnts that would Te5uIt should the ir a significant loss in funding. li would obvi(x]sly b¢ nc¢¢ssary to consider >W the fundin8 Id be r¢placed or activits ¢han8ed. Ai the balance she¢( dat¢ the fTr¢ reserve5 amounted to £1.784.571. Efforts 10 inCtt&se reserves in line wilh policy will be made in future y¢&rs. Fyture pl¥ns For the following finartcial ye2r. our 8im$ and objective5 ore= . To continue in deliveriJJ8 all Adult and Youn8 Pcrsons servittl irKludinB co[rtirn and Allijntt partn¢rs - To support partners irt delivering the Dyffylol servict in South Wale5 - To cofttinLte 10 take opporturtitits io expand our service5 - To support and grow our ranBe of siraiegic partners - To continue 10 Inve in OUT infra5mJaure to support our Swtf Fwle wt¥) use our s¢r¥ic¢s - To coniinue io inlluence natlonal 51Taiegy and wlicy . To monitor Board Membership nUrnr5 and div¢r5iry of ¢xprrith¢¢ - To prepare for re<oTnmissioning of %TViC¢5 in k¢y op¢Triional are4 such as GweTht Young Persons west Bay - To conlinue with adaptin8 5EfvLce5 and irnpltrntnlin8 new innovaiivt approache5 10 ser¥icc dcjivery. wkn required To continue wilh ihe Program¢ of DigitaI Transforniation - To continue with the provision of a full $rtruM of scr¥ice5 and thc resumNion of fXe-tO-fc s¢rvic¢s wtd rfhtr attivilits - To be Te-assesscd for [nvcsth irt People accTcdiwion and Tetsin Gold SthDJ5 STRUCTURE, GOVERNANCE AND MANAGEME[ Coverning document The charity is conirolled by it5 gov¢rningdwunJ¢n( adttd of trus 8nd COth#itutts a limiioj comY. limiied byguarantcc. asdefined by the Companie5 Aci 20. Thr Chariry 15 controlld by its govemirtg dotume#L Articles of Ass(Kiation constiiutcs a Company. Limit1 by guarante< as d¢fin¢d by lh¢ Cornp8ni¢s A¢t 2¢KJ6. The organisaLiM 1$ a charitsble company limit by BuaranK incorrA>rarcd on 25 SwtCTnber 1972 and rtgisor¢d Is a charity on 14 Ikcember 1972. The eharity w&s ¢ablished under a Memordndum of A550c1lon which ¢stabltshed the objtclivcs and powers or the charitsble eompany and is governed ¥nder its Articles ofA5soci&ion. In th¢ cvcnT of the ¢ompany bting wound up, the memkr5 of the company are required io contribute an amoun( noi cxceeding £1. Recruitment and appointment of new trustee5 Thc Director5 of lh¢ Comwy a150 the TrustEES of th¢ Chariiy 2$ defined by charity law and under ihe company'5 Articl¢s or¢ known mcmber5 of the Mana8emEnt Cornmittce. Tht tXiSlin8 ManaÈemeni Committtt apinIS TnJstee5 in gcn¢ral Tn¢etings. Th¢ Management Cornmi¢i¢¢ seeks ¢0 eTW that the nttds of the Charity art appropriately reflected through the div¢r5ity of the Trustee Body. Organi5¥tion415tryetyr¢ Th¢ B¢Mrd overall rrsptsnsbbility for the govemance ofthe Charity. It meets ai It 6 limes rYtr. The Board dcleg&tes authority thr Chief Ex¢¢u¢iv¢ 01¢¢[ who leads the S¢rtiot Managemeni Team in the day LO day managem[ of the Chariry, work)Dg withirt the financial frdrnework, prtthlures and policits sd down by thc Board. The Chief Exccuiive Officer has dckgatcd authority for human r¢sour¢c planning. ¢mploym¢rLL service developmerti and fithathce. Th¢ S¢nior Man3gcmeTr¢ Team wn5is15 of Ihc following personnel.. Chi¢f Exe¢uiiv¢ Offi¢¢r (Caroline Phipps) - Direcior of Corrx)N¢ Seryiccs (lan Hugh¢s1 - Director of (4)era¢ions (Huw Thomas) Page 4
BAROD PROJEcr Report of the Trusttts for the Year Ended 31 Mareh 2023 STRUCTURK, GOVERNANCE AND MANAGEMENT lttdllction #nd training ol new trustees Trusitts are already familiar with the work and ¢tho50Fthr ¢harity through th¢irbro&l bèckgrout)d5 wiihinthe 5eaorwhich the¢harity operates. New Trusltts are invitd and ¢ncourag¢d lo att¢nd tsaining sessiorts familiarisethemselves with the chlty and Ihe conXt wiihin whJch it Optt5. TrdiniThg and infornwion would inrlu(k- the obli8aiions of lh¢ Management Committ¢¢ de115 ofthe mwn documentswhich srtout the framewoJof thecharity includingihe Mcmordndu of A550Clation resourring and the ¢vrrts¢ finwiaj posilion as in the lell audited firnCIal 5wemcn future plan5 and obj¢¢tiv¢s. andAtiicles KÈY minxgÈment remllrteratlon The Board considers the pay and rtmtsncration of all sthff ycarat its budga 1n8M¢c1lTrg at which tLllle Iht Board will consider any inflatiotwy uplift8 as approlxiate within avalble fiJnds. Risk management The 5ysiems and iniernal controls e5tablish¢d by thc Board Ire design¢4 wo¥ide nable. tM)i absolu. assurance agains1 material missthiemcni or Ios5. Tn1¢¢5 and senior cary oui th¢ risk assessmen4 includin8 tht Wfiling and review ora risk r¢gist in ordcr to confirtn thai th¢ major risk4 to whith th¢ Charity is ¢xp05¢d. have bttn rtVLtwcd and symems esthblished to mitighie thos¢ Tisks. The Bo¥ds has identified the following k¢y ri$k areas". - Gov¢rnon¢e - Op¢r2tional Financial - Exfrrnal - Compliance wtth Laws & Re8ul&ion5 We rely on a nurnb¢r of grants frorn o small of swrt¢% which aTe awarded on a fLxed-ienn lS only and some may also be withdrawn with liiil¢ noiic¢. We to rtiiligate ihis risk by xiTls7n& income generaiinB opporDJniiies leg. Trainin& CDnfcrenets cic.). ¢n5uring thai ihc Charity an adequate reserves FKplicy irt plat< we consideropiions lor diver51ficaiion of incomc Streams and r¢ation of yrgi¢ aJlian¢¢s and partnerships where appropriate. to8dher with exploring any suitsble t¢nd¢ring opportunities ihai may arise. In such eircurnsianc4 wt bclievt that the Clwity h&$ thc TC5ilicnce and ability re5¢n1th and ¢ontinue other service5 without impaimienL Aiicniion has also ru$&j on non-financl risk& Such as faciliii¢5 for the provision of S¢TVittS. The Charity h&$ a mix of facilitiC5 in the forni of properrie& which it own5 trigh1 and a]50 l¢a5es OTh varying tertns and duraiions. Loss of any ofihese laciliii¢5 could b¢ deirimentsl our ability io deliver our 5¢rvice& To rnitigale again ihis we ensure thai all faciliiics are adquately insured and secured. ihey are re8uI&Tly maintsin and whcn any of OUT leas approach theiT end dat< we source funding to extend these for an 8dequatr duration in line with the wvic¢5 prnvKkn1 frtyn that facility and with the &wC1ed fundin8 siream. REFEREF4CEAND ADMINISTRATIVE DETAILS R¢gis¢¢r¢d Compxny number 01073381 (England and Walo) Registered Charlty *umber 265008 Registered offJ<e 73n4 Martsel Street Sw8ns¢ SAI STR Tru$t¢¢s S D Scarf Rtlirrd (decea 13.9.22) L M Hodgson Reiired J W Brown R¢lir¢d IT¢5igThed l4.9.23) S R¢¢d Doctor C Sirowbridge Solicilor(Non-Practisingl L Clark Chartered Audi(or P Marchani Criminal Jusiicc l¥esiBned 4.2.23) L Dacey (appoinLed 4.9.231 Company Secretsry L M Hodgson Page 5
BAROD PRIJJECT Report of the Tru$t¢tS for the Year Ended 31 March 2023 REFERENCE AND ADMINISTRATIVE DETAILS Auditors Xeinadin Audii LiTnid Chart¢red AOUntants & Siaiuiory AuditOTS Highdal¢ House 7 C¢ntre Court Tr¢fDresi Indumrial Estste Pontypridd Fihondda Cynon Taff CF37 SYR BankeTS Natwe Caerphilly Branch 19 Cordiff Ro8d Catrphilly CF83 1 WF STATEMENT OF TRUSTEES. RESPONSIBILITIES The Irusttt5 {who are also the direaots of Bar(wJ Projett for the purp)$ of comp8ny law) are responsible foT PTq)aring th¢ R¢port or Ihe Trustces ihc finrIal swemM15 in acwrdan¢e with applicable law and Uniltd Kingdom Accouniing Sndards IUThited Kingdom Generally Acccptcd Aocounting Pr¥tit¢l including Fitt181 Reportin8 Stsndard 102 "Thc Financial Reporting Stsndard plicabl¢ in th¢ UK and Republic ofireland.. Company law requires the truyees io prepare finla1 snents for exh ffinanci ycar whith give a ¢w¢ 8nd fair view ofihe State of affairs of ihe charitsble company and ofthe incoming resourc¢5 and applicwioD of r¢50ur¢¢s. irttluding the income and cxpendiiur4 of ihc chariuble company for rI¢1. In preparing those financial yakJncn thc tnLStces art rtquircd io seleci suitsble UntI[b& 11¢1¢5 and then apply thwn consksnUy* observe ihe methods and principle5 in th¢ Charity SORP.. make JudgcmenTS ond eairnates that ar¢ reasonable artd pn]d¢rtL prtpJrt th¢ fJnan¢ial statemettts ort the 8Oln8 eonctm LS tsnlcss it is inappropriatr w preSun the clwitsblt cOmpY will ntinue in 151. The trusitts art Ttsrx)nsiblt for keeping proper accounting records which disc105c with reasonable actUTaty al any lime the financial position of Iht charitable company and io enable them io en5ur¢ IhaT ihc financial ststements tomply wilh the Companie5 Act 200& They are also responsible forsafeguardingihe &ssets ofthe ctwitabl¢corDpany and h¢¢ fortskirtg ttasonablt Sitps forih¢ prevention and dcicction of fraud and oihcr iTreBulariiics. In 50 far a5 the tru5t¢¢5 ar¢ &war¢: Ih¢re is no Televani audii informaiion of which the ¢h8ritable compartYs audiiors are unaware.. and lh¢ M1¢¢$ have taken all si¢ps they ought to have tskct) io make ihemstlves aware of any relevant audil infortnation and 10 ¢stsblish that th¢ audit(ws art awaTe of that infom110rt. AUDITORS Th¢ auditors Xeinadin Audii Limii¢d. will be protx)sed for re-¥JrK¥intmeni the forthcomÈng Annual Genernl Meetirtg. Report of the trusttes. incorporaiiii8 a stsaic8ic rgm aprrtovtd by Orderof thc board of irn51 as thr wmpany direcior% on 112 1.2021. d Signed oth the ith's behalf by: - Trustee P¥ge 6
Report of the Independent Auditors to the Mtmbers of Brod Projeei Opinion We hav¢ audited the finala1 51atemcntsofBarnd PTOj¢a lthe'tharithblecomFwy) fortheyearendd 31 March 2023 which compT15e Ihe Group Swemeni of Financial Activiues, the Group Balan Sh¢¢L the GTOUP Cash Flow Slatemcni and nOS to the financial sleMents, includin8 a summary of 5ignificani accouniing policic5_ The finantial rtrx)rt1118 framcwork that h&8 been applied in their PT¢paTaiion is applicable law and Uniied Kingdom Accouniing SthTrdards (United Kingdom Generally Accemcd Accouniing Prncti¢eA in¢luding FinanciaI RertIng Stsndard 102 Th¢ Finamcial Reporting Standard applicable in the UK and Republic ofireland,. In OUT opinion the financial stsierncnts= give a true and fair vicw ofthe swe of the tharithl¢ grwp and pw¢ni company's affairs &$ ai 31 March 2023 and ofils incoming re50ur¢e5 and application of re%wrr¢5. indudinB it5 incomc 2nd txpendituo for the year then endcd.. have be properly PT¢pared in a¢cordante with Unittsl Kingdom Generally Acccpted Acrouniing Pra¢ti¢< in¢luding Financial Reporting Standard 102 Th¢ Firtarttiol RerK)rtin8 Siandard applicable in the UK and Republic of lrtland.; and hav¢ b¢¢n prepared in accardance with thc rcquirunents oftht Companies Aci 2¢X. BA$is for opinion We conducted our audit in accordance with Iniernaiional Sthndards on AlIting (UK) IISAS IUKI} atld applicable law. OUT respothsibilities under those stsndards are further described in Ihe Auditors. re5w1115ibilities for the audit of the financia5 siat¢rnent5 section ofour rqjort. We are independeThi ofihe charitsble company in ardance wirh the dhical requirements Ihai are relevant to our audit of the financial siaicmcnts in ihe UK. including thc FRC'S Ethical Standard. we have fvifilled OUT other eLhital r¢5pon5ibilit1¢5 IJ) a¢coidarKE with thE5C TEquir¢m¢ThlS. We kli¢ve that the a11 ¢vidcnce we have obrained is sul¢eI and appropri to ryovide x b&8is for our OPiniDrt. Con¢lu$ions rtlating to goihg conterth In auditing Ihe group and went company finarKia] 5taiernen we have concludryj thai th¢ trJst¢¢g us¢ ofthc 80in8 cots)cern b&sis of accounting in the prepalon ofthe group financial 5ramcnts is appropriatr. Based on th¢ work wc havc pcrform¢d. w¢ have n¢x IdlIF1¢d any rnaknat uncertaintie5 rtlaiin8 10 events or condirions tha( individually or colle¢tivelyJ tnay tast signifitani dou on the eharbtable group or parent cornpgnY5 ability to continue os a going ¢on¢etn for a perithl of ai leas1 iwelve months from whcn the flnancial swemcnts are auihoriscd for issu¢. Our r¢sponsibiliti¢s and the re&bIlItIeS ofthe wilh resrKct to going concern ar¢ drit¢d in th¢ rtlevanl section5 of thi5 ryort. Other informatio The irnstecs arc fE5pon5ibl¢ for ihE other infonnalion. Thc infoTTrIIO ci>rnprises the inforn)ation includcd in ihe GTOUP Annu&l Report. oiher than Ihe financial stst¢ments and wr Report of Independent AUdIr5 thereon. ropinion on the financial 5taternentsdoe5 not cover tht other infomiioft and. cxcew 10 thc cxtC4)¢oth¢rbV1 explicitly stat¢d in our reporL we do not express any fomi of Conclusion thereon. In conncciion with OUT audt( of the financial stsiemcnis. our re5FsIbIlIty is w rcad th¢ other infomiaiion an in doinB so. consider whdher the other inf0m12t1 ts maierially in¢on5ieni with th¢ financial swt•nenTS or ¢)ur knowledBe obtsined ITh the audil or oihtrwise appears to be materially misstsicd. Ir we ideniify such rThawiJl incoThsisiencie$ 01 appartni material MISSleMen1$, we a required io dele1¢ wheiher ihis give5 ri5¢ ¢0 a mawial mi55UiCEnl in the financial ststcmtnts themselves. If. based on the Work we have perforTrKd. we nclUde that there is a rnJteri#l tnissiatetn¢nl of this other infornuiion. we are Tequired 10 reporr thot fact. We have nothing to POrt in ihi5 r¢Bard. Opinion5 on other m8tters prescribed by the Compnie5 2(4)6 In our opinion, based on the work undertaktth in tht toutst of tht audil.. thc information givcn in ihe R¢portof the Tru#¢es forih¢ financial year forwhich th¢ financial siaterneTrtsarc prepared is Consistent with the financial star¢[nen and the Group Rew)rt of the Truskes h&% prepared in &&Yd8ncc with appli¢ablc le8al requircm¢nl5. Mtters on whieh we •r rqyir¢O to rtptyrt by ¢x¢tptioii In the lighi of the knowl¢dge and undetsthndingofthe charitable 8roupand parcni compgny itS¢VirOnMent obtaintd in the course of th¢ audi¢ we hav¢ rtol iderttified m&terial missiattmtrtts in the Rtp)rt of the Trusiee5. We have nothing to report in res¢[ of the followin8 matlers whert the Companic5 Aa rcquiTCS U5 to report to you if, in our opinion.. adcquate a¢covnting records hav¢ t¢¢n koior rt¢ums*u¥te for audit have noE been received fTom branche5 lloT V15itrd byu%or the financial sementS arc not in agrtem¢nT wilh thc attouniirtg records artd Yeiums- or certain disclosures of tru5rce5' remuneraiion specified by law are noi made- or we hav¢ not received all ihe infoall0 ar eXplanlon5 we require for our audit.. 01 thc irusiecs were noi eniiiled 10 take •Jv8¢ of Ihe sm] companies exptIon from the requiremeni io prepare a Siraie8lC Rep)rt or in PTefATing ih"e Rqrt)rt ofihcTN5Lce Pagc 7
Report of the Independent Auditors to ihe Members of B4rod Projeei R¢5PQn5ibilities of tru51eeJ As¢xplained moTe fully in the s¢MentorTDJe¢s, Rc5POn5ibiliii¢8 them1#5 Iwhowealso thed1Tett0 of the charitablc CoMpY rorihe purposes of company law) are res[)nSible forihe preparJtityJ ofthe financial sta¢¢ments and for being saiisfjed thai Ihey giv¢ a ttut and fair view, and for such iniernal coniToI a5 rhe misttts dfflerrnin¢ is TrE¢ssary to ctLablc the ptqjaration of financial 5tatcmcnts Ih81 are frtt fiom material missiatemcnL whcihcr duc frawi orerror. In pparing the financial srai¢rnen15, Ik (¢¢$ ar¢ TE5PDnstble for ssessin8 tht Charitable group and parent compHny'5 ability to coniinuc a goingconcern, d¢sclosin& a5 applicabl4 man¢rsT¢lat¢d togoing concern and using the goingconcern 15 of a¢¢ounting nle55 the trusices either iniend to Iwuid¥ the ¢lwiTobk¢omp3rty ce&se ow10 or have tm) fealillic alierwiv¢ bu¢ do so. Our reypon5ibilities for the audit of the finAneiAI sthtements Our objectives are to obiain TOnable &SSUTance atrf>ut whcthcr the gr(wJp financial sw¢m¢nts as a whole are free from erIal missiakmeft( whether due to fraud or error, and 10 issue a Repjrt of the Ir¥Jcpend¢DI Auditors thai includes our opinion. Reasonable assurance 15 a high level of &ssurdncc, bui is noi a 8uaraniee that an audit conducted in lctordanct with ISAS IUKI will always d¢l¢¢t material mi551atemeni whcn it exists. Mi551at¢m¢nts can aTiSC frotn fraud or error and are considered material if. individyally or in th¢ ag8gaTe. they could reasonably be ¢xp¢£ied io intlutsce the economic decisions of usus thkeTh on lh¢ basis of these financial 51alemenls. The txieni which our[Ure5 art capable of de¢118 i1Te8u1ariii including fra1 i$ (ktaikd btlow.. Identifying and a55e55ing potential risks Telted t• irregM]ritt# In identifying And a55e55in8 ri5k5 of matcrial missiattmtlll in rtsptct of irre8ularitics includin8 fraud and r)n-complian¢e with laws and regulations we have considered thc following.. la) The naturc of ihc industry and sedor, ntrol environmcni and business perfonnancc. Ib} Results of the enquirie5 ofmanagemeni ab1 their own ideniifJ¢a¢ion and 2SStssmerttof the risks of irregularities- Ic} Any mait¢T5 w¢ have id¢niifKd having obtain¢d revi¢wed theeharity's documtntaiion of their policies and procedur¢5 rlaling lil identifyin& evaluotithg atkjtomplyingwith lawsand rtgulions 8nd whetherthey werc aware ofany in5tsmcesof non-V)mplian¢¢', (ill d¢i¢¢iing and responding to the risks of fraud and wheiher they have knowledge of aclu. sU5prci¢d oralleged fraud., {iiil Ihc inicmal conirols esiablishcd to mi118aie risks of frnthd or non-cornpliancc with law5 and 8110$. {ivl Ihe matiers discussed 2mong ihe wdii cngagcmcni tc4m regarding ljow aThJ whert frnud mL8ht o¢cur in the financial 5taicmcnis pthd any ttlia1 indicau)r5 orrrdud. As o resuli of ihe5¢ proc¢dure5. we ¢on$ider¢d the opportunities and in¢entiv¢s may exim within the organisation for frnud and id¢nlifi¢d the gi¢st wieJiiial for fraud in the following are&s'. lal Timin8 of recognition of incornt Ibl Forei8rt turrency Innslatiort. Icl Value of siock5 In common wilh all audits undef ISAS IUKX we also Trquircd to 5pcrific pto¢¢durts to rtspond io the fl5k of managuncnt override. W¢ 3150 obtsin¢d an undv5tsfKiing of the legal and regulaknry frnntworks iht COMpY operates in. rU$l8 on provisions ofthose taws and tt8ulations had a direci eff¢ on the ddennination of material 8mouDts athd di11}sure5 in th¢ firw¢ial stht¢tn¢nts_ Th¢ k¢y laws and regulaiions we considered in this contcxi includcd UK Companies A¢L employmetkt law, health and yfcty, ptnsiMs le8Lslation &)d tax legislation. In addiiion. we Considered Provisions of oiher laws and regul10n5 tha( do Mi have a ¢ff¢ci on the financial swements but COtThplsance with which tnay bt fundamentsl 10 the Company's ability io operatt or avoid a mariaJ yajiy. Audit re5pon5e t• risk5 identified Our procedures io res[nd 10 risks identified included Ihc follow¢nB.' {al Reviewing theeroup fin&nci&l stsiemenidisclosuresand Min8topn"n8yCum¢nt1on io assess¢omplian¢¢with provisions ofrelcvani laws and re8u121ions described LS having a direct effeci on the group firwicial striemcn {bl Enqtsirin8 of mana8emtni concerning actual and wenti&l liiiBation and claims,. {cl Perfomiing analyiical procedure5 Lo idenrify any unusual or uneXpted relationthip5 thal Tnty ithdi¢a risks of mii¢rial misstaiemtni due to fraud. and {dl In addrtssin8 the risk or rraud thrgh management ovtrride of control& trMinB Ihe appropriatrrK55 of j¢wmal eThtrie5 and other adjustments" assessing whetherthe jud8emcnts made in makin8 accountin8 t51imaies are indicative of a pjiential bi and evaluating the business rational¢ ofany si8nifi¢ani ir&wiions are unusual or outside the nornul course of business. W¢also MMUnIcated rel¢vant identified lawsond rcgulionsand potenti fraud risto all tngagemeni Learn mtmbers and remained alert to any imdi¢aiions of frnud or thonompliarKe with laws rtgulatths thtoughwt the OLxJiL Page 8
ACrt of the Independent Audiiors to the Members Df Barod Project No in51antesof material non-cotnpliattt were idcniified. However. the likeliho of ddcciing iffegulari1i Lncludin8 fraud. is limited by the inhereE)t diffieulty in dtlg 1rrt8u18ri1i Ihe ¢tTeaivene5s of the entity's conirols and the natur4 liming and extrnl of the audi¢ pr(edures p¢tformed. Irregularities thal result from fraud miRhi be inherently more diffi11 Lo detect Ihan iffe8ulariti¢s ihat resuli from eTror. As explained abovc. there is an unavoidabk risk lh m&erial misStsments may bc dcicctcd. even thouBh Ihc audit h&% been planned rfOrnicd in accordance wilh ISAS IUK}. A funher d¢rIptIon of our r¢srA)nsbbiliucs for the audii of ¢he financia] swments is lo¢aied on the Finah¢ia] R¢wiitt8 Council's web511c at www.frc.org.uklauditor5respon5ibilities. ThisdescrbPtiM fornJ5 Port of our Rtp)rt oftht AlitOrS. U$t ofour report Thi5 rtport is made solely to the tharitsblt company's memkr& a5 a W. in x¢4)rdanc£ with Chapter 3 of Part 16 of the Companie$ Aci 2006. Our wdii work has been undertaken so thai wc mighi sthte 10 the charirable company's th05c maNers we are requir to 51e to thcrn in an audiiors. report and for rn oth¢r pwp05e. To the fu11¢5L p¢[mil by law. we do noi aceepi OT 455um¢ r¢sponsibility lo anyone othv than th¢ charitsble tompany and th¢ ¢haritsble tomp3tiy's members as a bthly. for our audit work. for thi$ r¢por( or for the wnion5 w¢ have forni¢d. Gar¢th FTan£15 FCCA IS¢nior Swuw Auditor) for and on bchaifofxtinadin Awiii Limi¢ Chartered Aetountsnts & Stsiuiory Audiior5 Highdale Housc 7 Centre Court Trtfore$t Industrial Eaate Pontypridd Rhondda Cynon Tarr CF37 SYR Date.. Page 9
BAROD PROJECT Con$0]tdat Statement ol Finaneial Activities {incorpor4ting In¢om¢ and Expendlture account) for the Year E•ded 31 March 2023 31.3.23 Total funds 31.3.22 Totsl funds Unrestric*d funds Re5trided fvnd5 Notes INCOMEAND ENDOWMENTS FROM Donations and legacics 1777 2,777 978 Charitable activili¢s Drug atO Al¢ohol SeTViC¢S Out ofwork Prowrnrnc Other Servitts Drink Wise Age Well ProBramme FundinB in relation to Co¥id 19 Coronavirus Job Retel)lion Seheme 7.101.962 7,101.962 5,882.083 410.041 368.566 30.342 4,500 5,146 371.389 208.851 380.240 Other ITadin8 activitie5 Invtstment income Other incomc 29.995 4.31X) 29.995 4,3(K) 14.175 248 187.094 Totil 8.159.423 208851 8 368.274 6,3,173 EXPENDITURE ON Rai5in8 fvnd5 70.573 70,573 35,530 ChAritsble attivities Support and ¢work Trainith8 7.962.5( 222,366 8,184.875 49.725 6,742,382 Total 8 082 807 8 305 Irj 6814644 NET INCOMFJ(EXPENDITURE) 76.616 (13.515) 63.101 88,529 RECONCILIATION OF FUNDS Tothl fund5 broughi forward 1.707.955 855.502 2.563.457 2,474,928 TOTAL FU14DS CARRIED FORWARD 2 626 558 2 563 457 Th¢ notes fonn part of these ftnancial staierneTIts Page 10
BAROD PROJECT CoAsolidted Balance Sheet 31 March 2023 31.3.23 Tothl funds 31.3.22 Total funds Unresrriaed fun Resrrictrd funds FIXED ASSETS T4n8ible assets 15 101,319 1.365,888 1.467.207 1.550.030 CURRENT ASSETS Stocks Debiors C&sh bank and in hand 16 17 1.286 1,377.282 1 335 942 1.723,366 1.217.937 1,723.306 1217937 2.942,363 2.942.363 2.714.510 CREDITORS Amounts fallin8 due within onc year 18 (1.259.111) 1216.2(Kll 11,475,311) 11,300,300) NET CURRENT ASSETS 216 21YJ) l 467.052 1414210 TOTAL ASSETS LESS CURRENT LIABILITIES 1.784.571 1.149.688 1934.259 2,964.2410 CREDITORS Arnounts falling duc ofter more than oneyear 19 (307,7011 {307,701) (4.783} NET ASSETS 784 571 841.987 2.626.558 2 563 457 FUNDS 21 Unrestricied funds Resirickd fund$ .784.571 1,707,955 855 502 TOTAL FUNDS 626 558 2,563 457 These financial 51arcrncnts have been prcpared accordance with thE FYovi5ions applithk to chaTitsble companits subjt£i LO the srnall companie5 regime. The financial Slat15 were apwov¢d by th¢ Board of TnwcM znd wthorisryl for issuc on ......... sign¢d on its behalf by.. . and were L Cl- Tnjsiee The notes forni w of these financial staiemen Pag¢ 11
BAROD PROJECT Cornpaoy Bal¥nce Sheet 31 Mrch 2023 31.3.23 Toral funds 31.3.22 Total fwids UTrT¢stricd funds Restrictrd fund Notes FIXED ASSETS TanBibl¢ a55c¢s 13 I.311 I.15.888 1.166.199 1.250.031 CURRENT ASSETS tkbtors Cash ai bank and in hand 14 1.753.320 1.188.855 1.753,320 1 188855 1.426.361 1286 866 2.942.175 2.941175 2.713,227 CREDITORS Amounts falling duc within one year 15 11.464.499) (216.201) (1,680,700) 11.506.668} NET CURRENT A&SETS 1477 676 216201) 261475 1 206.559 TOTAL ASSETS LESS CURRENT LIABILITI 1.577.987 849.687 2.427,674 2.456.5 CREDITORS Amounts falling due after more than one year 16 (307.701) (307.701) {400,783) NET ASSETS 1 577.987 541.986 2 119973 2 055 807 FUNDS unlrI¢l¢d furtds Rtslricttd funds 18 1.577,987 541,986 1.500,306 555,501 TOTAL FUNDS 2.119973 2 055 807 The financial staiernents w¢rc approvd by the 803rd of Tntsttts and authoristd for issuc on .... signed on lis behajf by.. . 8nd were L Clark- Truste¢ The notes fomi part of these financial st#t¢m¢nts Page 12
BAROD PROJECT Cons01idted Cash Flow Statement ror the Year Ended 31 March 2023 31.3.23 31.3.22 No¢¢$ C4sh flow5 from operAting artivitits Cash generated from opEraiions 35 156 4621 Nd ¢ash provided byllused in}oFrntirtB atlivities 156 462) C85h flows from iDv¢5ting 4rtiYiti¢5 Purthasc of iangiblt fixcd asstts Salt of 18ngiblc fixed assets InieresL received 1158.6831 1514,253) 248 Nct cLsh used in investing activiiits 153.3831 514.(X15 Change in cash amd ush equivaltnts ITh the rtporting period C15h •nd ¢a5h equivalents at the beginniK¢ of tht reporting ptrio& (118.fy)51 (670.4671 1335 942 C45h nil e45h equi1¢ts t tht end of th¢ reportin¥ period 1335 942 The notes fornt Port of th¢s¢ financial statements Page 13
BAROD PROJECT Notes to the Cortsolidttd Cash Flow Ststem¢nl for the Year Ended 31 March 2023 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPEKITING A1VITIEs 31.3.23 31.3.22 Net Income for the reporting period1s PEr tbt S¢t¢me#t of Fintscial Activities) AdJStMents for: Depreciation Che¢5 Profil on disposal of fixed a55rts IntCTCSi received D¢¢r¢as¢llin¢r¢as¢) in yocks Increa5¢ in debtor5 InCrea(decrea$¢) irt tr&liiors 63.101 88.529 241,502 19971 14.3(M)I 226 (346.0831 247.751 (2481 {270) {436,383) Ne¢ cash provided byMu5ed inl operatiolls 156.4621 ANALYSIS OF CHANCES IN J¥ET FUNDS At 1_4.22 Cash flow Ai 31.3.23 N¢t ¢¥$h C&sh ai bank and in hartd 1335 942 18.005 1217937 1335 942 118005 l 217937 Tot¥1 1 335 942 1.217,937 The not¢$ fom part of these financial ststements Pag¢ 14
BAROD PROJECT Not¢5 to the Consolidated Fsnantial Stx¢ements for th¢ Y¢ar Ended 31 Mrth 2023 ACCOUNTING POLICIES Bsi8 •f preparing the finan¢il 5ttements Thc financial statements of the tharirable compary. which is a public trxnefit entity under FRS 102. have been prepared irt accordance wilh the Ch11)¢5 SORP IFRS 102)'Actouniin8 and RerKTrnin8 by Chariiies.. Swemcni of ROrnended Ptactict applicable io charit1¢5 preparing their accounts in aOrdaneC with tht Finaneial Rtrx)nin8 Standard applicable in thc UK and Republic of Ireland IFRS 1021 l¢ff¢divc l January 2019).. Fkrtancial Reporting Swjdard 102 The Finantial Rewrtsn8 St&ndard applicable in th¢ UK ond Rybli¢ of iffland. and the Companies Att 2(Kkn. The finwk¢ial stamet)ts have been prcpar¢d und¢r Ihe historical c05ttonvention. Th¢ Group's fun¢tiorrni artd pffs¢nwionaJ cur(eThcy is the Und s(erlin8 {£1. and baJanc¢s roundtd to the ncartsi £1. BASIS of tonsolid8tion and eomp8r8tive5 The financial 5taiemenis consolidaie ihe results of ihe £hariry and its wlKJlly owned subsidiaries on a linc by line ba51& No separait Sthicmeni of Flnancial Aciiviiics (SOFA) has t£cn Prepar for Ik ch.ble Company &$ pcmiilled by Section 408 of ihe Companies Acr 2(. In¢ome All incorne is re¢ognisd in the Statement of Financial AcLivtiies once Ihe GTOUP cniiikmcnt to the fund& 1¢ is probable th Ihe income will be'reteived artd the amouni ean bc measured reliably. li is derived froffl the aclivilits ouilintd btlow. DOnl0Th5 without condiiions are accounted for on w ush rcc¢iv¢d bJsis_ In the evertt a donation is 5ubjeci io conditions ihit require a Icvcl olpcrforniance kfore the GTOUP iseniiilcd io th¢ fur4 the income is dcferTcd and noi rccognised in full either uniil ih05e conditiS are lully . or Ihc fijlfilmeni of those tonditions is wholly within the con(ToI of ihe charity and it is probabl¢ thal tho% condiiions will be fuifill¢d in th¢ r¢Tting period. Granl income is a¢¢ounted for w art 8ccrnals l>asis atld is shown in the financial Aaiem¢Thts when the Group earns th¢ un¢ondiliothal right 10 the furtds. Grants received for a specifjc pwpose arc tyurcd a5 rcsiriried fund5. Revenuc 8rant5 arc credited dirtcily to the Siaiemcnt of Fitlancial Activiiic4 once the Group has unrondilionAI right& and capital Branis are realised over the life of the &ssei in linc with depreciaiion Folicy. tkferrtd in¢otrf ¢onsists of grants which rh¢y Ihe Group do noi have the unconditional ri8hts. Other irading aciiviii¢5 consist of income fTOrn training is teco8nised when Ihe rraining ha5 been provided. In¢om¢ ¢iv¢d in 3dvan¢¢ of a training wur5e 15 deferTcd until the CTiteria for income recognition arc met. Investm¢ni in¢om¢ 1$ in¢lud¢d kn re¢¢i¥obl¢ and the amount c4n bc meawred reliably by the Group this is nonnally upo rtotification of the interest paid orpayablt by ihe FAnk. Other irtcome consistofmoniesllssets received from bsidIry cniili cxcludgj fronj Con¥[1dLI0rt. This is reco8niscd when thc iisks and rcwards have tten iransfcrrcd. Donated services. u5ets and frilitie5 Donated prof¢5sional 5crvice5, dwated a5tsar¥I dolted faciliiies are rtCO8nised &% Incorne when t1 group has control over the item. and condiiions &5$0ciaied with the donated item have been mel the reeeipi of economic benefit from th¢ u5¢ by th¢ harithbl¢ company of th¢ iittn is probabl¢ artd that eeortomic bentfii can ffle&sufed reliably. On receipt, donated PTofessional services donaitd assets and donated faciliiic5 are recogni5ed on th¢ bJsi$ orth¢ vilu¢ of the gift tts the group which is th¢ amouni th¢ group wwld have been willing (o pay io obthin service5 and donal¢d lacilitie5 a ¢)Tfc5pondin8 arnount is then rEL¥Fgnised in ex1(Ure in the of rtttiM. L)nad a55ets ar¢ deprtciaied over the lif¢ of the asset. EipEnditur¢ Liabilities ate retognised as expethditUTe as soon as iheTe is a legal OT consinjciive obliwion comrnitting the Group ¢0 th expendilure, il is probable that a transfer of economic benefits will required in selllern¢Di and amount ofthe obligation can bE tncasured r£lTably. Exptnditurt is actounLed for on an acc1$ b&%is and has becn clas5ifiEd undeT headings tha¢ 8ggregate all rost related to the ta*gory. Whete tosts Cannot dirtdly allribuied to particular hewjings they have bt¢n allo¢aid to a¢iiviti¢s on a basis ¢onsisi¢nt with th¢ us¢ of t¢sourct> Employee benefLts Shon itrm nefItS including IM)liday pay arc recogni%d as as an in Peri in which the service hs rcceived. P4g¢ 15 ontinu¢d..
BAROD PROJECT Noies to the Consolidated Financial Stat¢meDts- foDtiDtd for the Year Ended 31 March 2023 ACCOUNTING POLICIES- coAtinu Allotatioh apportionment of costs Support eosis arc those funciion5 Ihat assi the work ofthe Group bui do noi directly undthake Charitable activitie& SuprMTrrt cosis ha¥e been allocat bww¢¢n goveman¢¢ and othtr support costs. Governance costs rornprise costs ithvolwing Ihe public accountsbiliiy of the GTOUP atKi its wmpliance with rtgulaLion and 8ood praciice. The5C C05t5 iDElud¢ ¢osts rtlaied io atuiory audit and legal ftt5 with ath app)rtionmethi of overhead and support costs. Tangibl¢ fixed •ss¢ts Depreciation is providtsl * the followin8 annual Me5 in orderw wriie off each assd ovet its ¢Slimatrd urUI life. Freehold property Short leasehold Fixitsres and fiNIft8S Motor vthicles Compuicr cquipmeni 2%onc the periiwj of the Ite 25% on and 15%on cost 25% on co 33% on rosi atwj 25%on (x Debtors Amounis recov¢Tabk on convart$ 3r¢ r¢¢08rtI al the selllemeTht amouni duc after aThy dinI offerttl. Prtpaymtnis are Valu 0¢ lh¢ arnount prepaid net of any trade discouttts d¥e. Cash at brtk Ind ith hnd Cash at bank and cash in hand includes ca%h and short m highly liquid investynenls with a short maDJrity of three months or 1¢$5 from the da of acquisiti oropening of thc dcp05il orsimil8r&rounL Creditors provisions CTcdiwr5and provi5ion5 r¢rogni5wJ where the charity has apreseniobli8aiion wesuliing from a post ¢v¢nt that will probably resuli in the tyansfer of fund5 10 a third party and iht amount due to senle ihe obl1810n can bc m¢asured oresiimated reliably. CreditOTS and PTOViSiOnS are nornJaJly re£o8rtised ai their settlement amouni afler allowing for any trade discounts due. Finxncial instrurntnts The Group only has financi asseLsand financial liabiliiic50f akind thatqvalify os bsi¢ financia] Inst[nts. Basic fIrClaI inrUMentS art initially recognised at uan5Xtion vaiuc atKI sub5•4u¢ntJy measurtd at thcir settlcmcni value. Stocks Siocks are va]ued ai thc lowcrof olandn TealisablevUe, afttrmakirt8duc alk)wance for ob501el¢ and slow moving items. Taxatio The charity 15 exempt from COTporatLDn l&X Ort Lts charitable athivitits. Unr¢stricL¢d funds can bc used in xcordance with the chariwblc obicctiva at ¢1 discrdiot) of the trnsiees. Restricted funds can only k used for particular re5Wtci¢d purp05¢5 within the objetts oFthc Group. Restrictions aTi5C when specified by thc dothor or when funds arc rdi5ed for particular $¢te purposes. D¢5i8naicd funds are unrtsiTiCtcd fut of thc Group which the trustets ve deeidtd at ikirdiscTCtion to set ld¢ 10 use for specific purwse. Further explanation of ihc n¢ and Purp of cath fvl 15 Ilud in th¢ no to the finarKial 5tatemcnts. Hire purehAse nd leasing tommitments Rcnials paid under opcraiin8 leases are charged to thc s¢1 of FiTwJ¢ial A¢tivili¢s ort a straight line ba5isovcr the pcriLxI ofihe It. Pehsion <osts othtr post-rttirememt befiefits The charitable company operate5 a defined coniribuiion rKnsion stheme. Contr1]110ns payable 10 the charithble company, pension s¢heme are char8ed LO the Statcmeni of Financial Aaiyiiics in the pviod whi¢h they Telalt. CritiC81 accoyntine e5tiDkiU nd judgemettts The Group Tnak¢s ¢stim¢S and assumpiions cort¢emin8 th¢ fuDAre. The resulting accowjting ¢511m¢S will, by definitLOn, Seldom qual the rel8tcd actual resulty The c5titnalts and assumpti¢ms that have a signilicant risk of cthusillg a material adjusirneni to the canying Emounts of ass$ and liabiliti¢S within th¢ n¢xi yearare deoiled beS0w.' Page 16 continued...
BAROD PROJECT Notes to the Consolidated Fin•ntial Statements- colltinued for the Year Ended 31 March 2023 ACCOUNTING POLICIES- continued Critiul tcounting t5timales and judgerneots lil The annual depr¢¢iJtion charge for tangibl¢ fixed &ssets is sensitive to changes ith the eMima5 Useful >011( lives and residual value5 of the 3ss¢ts. The useful economic lives and Te$LdU values are re-assessed annually. They are arnded when nec¢55ary to r¢fl¢cL tutrertt esiimatt, based on the curreni tstima* and the physical condilion ofihe as%ts. DONATIONS AND LEGACIES 31.3.23 31.3.22 Donati15 2.777 978 OTHER TRADING ACTIVITIES 31.3.23 31.3.22 Shop in¢om¢ TrainiÈiK income 27.207 13.950 225 INVFSTMENT INCOME 31.3.2J 31.3.22 Depo1 CoUn1 inter¢5t 4.300 248 INCOME FROM CHARITABLE ACTIVITILS 31.3.23 31.3.22 A¢tiviry Drug and Alcohol S¢rvi¢¢s Out of Work PTo8rammt her Services Dn"nk Wise Age Well Pro8rammE Funding in latiOn CO¥ 19 Coronavinjs Job Rfflcnlion kh¢n GrdThts Grants Grants Grdn Gran Grants 7.101.962 5.882,083 410.041 368.566 30,342 4.500 580.240 7.682202 6 700,678 Gr8nis received. in¢luded in the above are LS follows-.- 31.3_23 31.3.22 L(Kal Health BoaTd5 Welsh governmeni- ATf4 Wanning Boards Welsh gover¢t- ESF Big Lotl¢ry Other Covid funding Welsh GoY¢mmeni Social C&t RttO8nblion Rele of Capital Grants 97.50D 7.101.962 272,389 5.882,083 410.041 30.342 4.500 5.146 1,5 154,360 214.206 208.851 7,682.202 6 700.678 Page 17 continued...
BAROD PROJECT l¥ote5 lo ihe Consolidated Fin*ncial Statements- continued for the Year Ended 31 Mareh 2023 OTHER INCOME 31.3.23 31.3.22 Miscellanwu5 incom¢ RAISING FUNDS Other trading Activities 31.J.23 31_3.22 Purch5 9.672 37.712 713 4,341 24.210 335 751 2.540 513 540 Moitsr cxp¢ns¢s Rtpairs & maIntenae Light artd he ClcansnB Siarionery & telephone Insurance Advert15ing Other l¢gal artd proftssiwal SundTies Bad debis Depreciaiion 4.294 532 622 928 500 3.130 854 9.631 174 1.381 49 70.573 35.530 Pag¢18 continued...
BAROD PROJECT Not¢5 to the Consolidated Finan¢i8l S¢at¢m¢nts- eontinued for the Yegr Ended 31 Mwr¢h 2023 CHARITABLE ACTIVITIES COSTS Support & C&sework Training Total Total Direet Costs 31.03.2023 31.03.2022 Salaries, Nl. pe*sion Partner charge salaries and expen5CS Supervisim snd sessional work Motor and rnileage expense5 Advenising. printing & reproduciion Needlc cxchaDg¢ Supplies and disposal Cli¢nl ¢osts, diversionary aciiwily 5.412.716 13.652 5.426.368 4.707203 589,682 127.510 182,438 589.682 127.510 184.604 561.385 69232 120.318 2.166 46J98 46.398 43.563 204.492 204.492 80229 184.101 102.561 6.747J38 15.818 763.156 5.684.491 AIIoegted support tosts Salarie& Nl. pension Training expcn5e5 RecruiTh¢nt Rent and rates Jn5uraD¢e H¢alih¢are Htaiing and li8htin8 Repairs and cle4nin8 IT Softwar¢, consumable maintcnance Telephone and communimio Ststioncry Postage Equipm1 l¢¥ing Svb5criptions and publicaiions Le821 & PTofessional fee5 Consuliancy ftts Sundry office eosts Depreciarion including Icase amorti5aiion Profil on disposal ofmotor vehicle 8ad d¢bts GoYernan¢e ¢osts 72.316 55.512 20,173 74.366 45J69 13.850 154,558 311.578 72.316 61.367 20.173 77,042 47.757 13.8iO l6l693 311.578 72.316 34.188 8,301 110.785 55.573 13.205 65.034 62.534 5.835 2.676 1388 8.135 92J39 142,190 6,487 7,889 9,037 9,398 51,168 26.440 (4),918 97.19) 150.771 6.830 8.327 9,513 9.398 51.168 26.440 61.073 92.680 8,581 343 438 476 7.097 9.352 12.568 9.182 51.726 9.250 47.094 155 241,329 241.329 247.749 (997) 7.379 36.239 (997) 7.379 36239 34.177 1.437 339 1471446 1094 623 8.184875 8.234,6LKI 779 114 Page 19 continued...
BAROD PROJECT Notes to the Cons01idat¢d Financial Statements- tonti#ued for the Year Ended 31 March 2023 SUPPORT COSfS SuprKTrrt costs includc5 the followin8 8o¥ernance costs.. 31.3.2023 31.3.2022 SJlari4 Nl J PEnsion Telephone 2tsd tommunication Stationery and tx)sia8e Advertisin& printing and reproduction Ltgal & professional fccs Bank chwge5 Auditors remuneration 18.079 858 4n 18.079 763 528 2.129 2,741 2,919 2.1 15 1722 2.170 34.177 10. NET INCOMEIIEXPENDITURE) NtL ineomtl{extMdituTc) Is stated after Chargin[cdiIJngl'. 31.3.23 31.3.22 AudiloTg rullerall0 tkpreciation- ownd a55et$ her op¢rating leases Syrplus on disposal of fixed 7.800 247.749 15,337 241.503 12.189 TRUSTEES, REMUNERATION AND BENEFITS There wtrc no trust5. Mnerallon0rOthtbeefits forihtycarended 31 March 2023 n¢xforthEyearthded 31 March 2022. Trusttes. expefjses DuTing the y¢aT non¢ of the irusite5 receivcd reimbur5cment for vavcl ¢xws¢s (2022: rtone). 12. STAFF COSTS 31.3.23 31.3.22 Wages and salaries Social sccurity co5 Other pcnsion cosis 4,938.886 437.510 173851 4.271.826 369,175 175933 5,550 247 4816934 Kty management personnel Kcy managemtni rKrsonnel are considered to b¢ thos¢ [$01 tNStre5 Sil Within key operatiottal and stNe8ic roles forthc Charitsblc CornpaThy. The iotsl employment bencfits of the key management PEf50nn¢l W¢Te £192,41KI (2022.. £I81.9721 which Consisted of gross pay, tmployers, national inrance and employu5' pension c051S. The average moftthly number of cmployecs durin8 the year w35 a5 follow 31.3.23 174 29 31.3.22 ChaTi¢obl¢ a¢iivilies Management and admini5trdtion 26 203 177 Page 20 Continued...
BAROD PROJECT Notes to the cons01idled Financial Stsiement$- eontinthed for the Year Ejmled 31 M•rch 2023 12. STAFF COSTS- continy The numttr ofemployres who employee benefits{excludin8 employer tthsion coAs) ex¢eaed £60,¢KJO w8S.' 31.3.23 31.3.22 £60.17 - £70.OC4) £70.QOI . £80,orx) 13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcfiviTIES Unrestricted funds Re5tricied funds Total funds INCOME AIYD INDOWMENTS FROM Donations and l¢ga¢i 978 978 Ch4ritablt activiti¢5 Dnjg artd Al¢ohol SeTVittS Out ofwotk Pro8r8mmc OtheT Services Drink Wise Age Well Prograrn Funding in Telaiion io CO¥ 19 Coronavirus Job Rel¢nu Sthcme 5.882.083 410.041 154.360 30,342 4.5C4) 5.146 5,882.083 410.041 368.566 30.342 4,500 5,146 214.206 Other trading activiti¢5 Invesitn¢nt in¢om¢ Othcr incornt 14.175 248 14.175 248 187.094 Total 6)3 173 EXPENDITUREON RaisinE funds 35.530 35.530 Charitsblt activ•ties SuprM)rt and Qwork Trainin8 6,474,1( 36.732 268.276 6.742.J82 TotAI 6 546 368 6814644 NET INCOMEI(EXPENDITURE) 101.865 113,336) 88.529 RECONCILIA TION OF FUNDS Total fuftds brou8hL forward 1,606,W) 868,838 2.474.928 TOTAL FUNDS CARRIED FORWARD 1707 955 2 563 457 Page21 continued...
BAROD PROJECT Notes to the Cotssolidaied Finantial Statements- tontinued for the Year Ended 31 M*rth 2023 14. CHARITABLE COMPANY RESULTS The Chari18ble COmpY has tske advan8¢ of S¢¢tion 408 of th¢ CoTnpsni¢s ACL 2(X)6 and has noi included its incom¢ and expendiiure iTh these financial SWE[¢& rtsults rjf Bar (th¢ ChaTithble C¢)mp8ny) are.. Toul 2023 Total 2022 Total incornin8 resourccs Total Tesourccs cxpendul 8.339.228 8.275 062) 6,884.623 6 795.0971 Nei 64,166 B9.526 Funds.. Ai l April 2022 2 055 807 1966 281 Al 31 March 2023 2 119973 2 055 807 15. TANGIBLE FIXED ASSETS Improvements to property Freehold property Short leasehold COST Ai l April 2022 Addiiions Di5P05a15 I.(8.805 793,035 157,500 178.7821 114,580 Al 31 March 2023 771753 114.580 DEPRECIATION Ai l April 2022 Charg¢ fory Elitninai¢d otL disposal 144,450 15.376 178.7821 217.782 208.850 82.242 2.292 At 31 March 2023 189561 426 632 NET BOOK VALUE Al 31 March 2023 1087 761 345 121 Ai 31 March 2022 575 253 Pag¢ 22 continued...
BAROD PROJECT Notes to Iht Consolidated Fin#neial Statements- eontinued for the Year Ended 31 Marth 2023 15. TANGIBLE FIXED ASsS- tonti•ued Fixtures Motor vehicles Compuier equipment fittings Toials COST Ai l April 2022 Additions Disposals 32fi730 1,183 231.758 38A435 1921,343 158.683 596 477) 31.260) 386 4351 At 31 March 2023 327.913 2 483 $49 DEPRECIATION Ai l April 2022 Chorge fory¢ar Eliminated on disp)sal 326.730 174 218.381 10.107 31.2) 381.728 4.704 1.371.313 241.503 Al 31 Marth 2023 326. 1016342 NET BOOK VALUE Al 31 March 2023 1467 207 At 31 March 2022 4.707 1.550.030 CHARITABLE FTXED AssEfs {CHARITABLE COMPANY) Fredld prop¢rty Improvemenis (o Property Shon le&sthold COST Ai l April 2022 Additions Disposals 76&805 793.035 157.51X> 178 782) 14.580 At 31 March 2023 768 805 771753 DEPRECIATION Al l April 2022 ChaT8¢ for the year Elirninaied on disposal 144.450 15.J76 217,782 208,850 178 782} 82.242 2,292 Ai 31 March 2023 159826 247 850 NET BOOK VALU Al 31 Match 2023 608,979 s23.3 30.046 At 31 MCh 2022 624 355 575 253 Fixturcs and rittings MNor Vehicl¢s Comptsicr Equipmeni Total COST Al l April 2022 Addiiion5 Disposa15 319.777 231.759 386,435 2,614.391 157.500 596 4771 386 435) At 31 March 2023 319.777 2.175.414 Page 23 coniinued...
BAROD PRalE Notes to the Consolidated Finaneial Statements- continued for the Year Ended 31 March 2023 Is TANGIBLE FIXED ASSETS- DEPRECIATiof4 At l April 2022 ChaT8e for the year Eliminaied 319.777 2l&381 10.107 381.728 4.704 386 432) 1,364.360 241.329 596 4741 Ai 31 Mar¢h 2023 319777 197.228 NET BOOK VALUE Ai 31 March 2023 3.271 At 31 March 2022 250.031 Shon tenn ItS are represenied as follow5.'. CAPITAL VALUE LEASE PERIOD GRANT Amortisoj VALUE PROPERTY GRANT TREATMENT 25 North Parnde. Aberystwyth St Fagans House, Caerphilly Lower Dock StreeL Newport Ebbw Vale Instituie Kingsway. Swansea West Buie SL Cardiff Vaughan SL Llanclli 180.(MKI 180.(XIO 115.2 19.053 120.LXK 137,5 3Yea 3 Yews 3 Ytws 3 Years 5 Ycars 5 yj$ l Year 180.¢MKI 180.(K)O 115.200 19.053 120.1X)O 137,500 20.( 75,LX)O 60.(K)O 38.500 6,451 48.(KJO D¢ffftd govn Erants Dcftrred Eovn BTanis Deferrtd govn grants Deferred govn gran15 Deferred govn 8rant5 Deferred govn gTant5 DcfcTrd govn BTant5 20.LK)O 20.( 771753 247851 All of the above the ¢oyrtspnd1nB 8Mts are Ing Wrillen off in line with thc tCTmS of their lease agreemenLS 16. STOCKS 31_3.23 31.3.22 Stock5 1.060 1.286 There is no stork in the ChAritabk Company. 17. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31_3.23 31.3.22 Trade debtors Amounts recovtyable on ¢wtr Othtr debtors Pr¢payrnents 8.317 .516,162 19.863 13.085 1,332.460 31.737 1377 282 charlble CoMpY 31.3.23 31.3.22 Amoun15 TO¥crble on contrxts Other dcbiors Prepayrnents 1,516,162 158,134 1.332.460 62.164 1753 320 1426 261 Page 24 continued...
BAROD PROJECT Notu to tht Consolidated Finanei81 Ststements- continued ror ihe Year Ended 31 Mareh 2023 18. CREDITORS.- AmOUs FALLING DUE WITHIN ONE YEAR 31.3.23 31.3.22 Trade creditors Social securiiy and othcr thxe5 Accruals and dcferrcd income Deferred governmeni 698 81,918 .043,213 174471 102,608 .155,855 21 2(KJ .475.31 I.31M).300 Chgrirable Company 31.3.2023 31.3_2022 Arnoun15 owed to group undwtskings Social Security and oihcr taxc5 Other credito Accruals and deferred incoTr Dtfentd 8ovemmeni 8ranis 206.501 102.609 81,918 207.490 1.042,790 174.470 1,155.389 216.201 19. CREDITORS: AMOUNTS FALLING DUE ArrER MORE THAN OP4E YEAR 31.3.23 31.3.22 tkfcrrcd govcrnmcnl grant5 307 701 The above is for the Group and Charitable coMY. 20. LEASING AGREEMEIYTS Minimum l¢lls¢ payrncnts under nonrfanccllablc ¢)pErating lea fall due as follow5: 31.3.23 31.3.22 Within on¢ y¢ar 21. MOVEMENT IN FUNDS Net movement in funds At 31.3.23 At 1.4.22 Unrestricted f¥od5 G¢n¢Tal fund 1,707.955 76.616 1.784.571 Restricted fuNds Capiral 855.502 841.987 TOTAL FUNDS 2 $63 457 2 626 558 Page 25 Dtinued...
BAROD PROJECT Notes to the Con501idl Financial StsteThents- eontiftued for the Yur Ended 31 MArch 2023 21. MOVEMENT IN FUNDS- continued Net movement in fund5, incltyjcd in the above as follow5: Incoming resources Eie50urces expended Movement in funds Unrtstricted funds General fund &159.423 {8.082.8071 76.616 Restrict fuJtd5 208.851 (222.3661 TOTAL FUNDS 8.368 274 8.305 1731 Compar¥tiV¢s for movement in f¥lld5 Nel movement In funds Ai 31.3.22 At 1.4.21 Unrestrirttd furbds General fund 1.6Lh5,( 101.865 1.707,955 Restritted funds Capithj 86&838 113,3361 855,502 TOTAL FUNDS 2.474.928 88.529 2 563 457 Comparative nct movemeni in fvnd& includ1 in the atM)ve are a5 follow5.. Incoming resources Resources expended Movem¢nt in ndS Uthyestritted funds Generdl fund 6.648.233 16.544368) 101.865 Restric¢¢d funds C)pit31 254.940 (268.2761 (13.3361 TOTAL FUNDS 6 3.173 6 814.6441 Restrieted funds Tht rtstrictcd fund5 relate lo capital Brants ex1th on fjxed asstts, Ihtse funds increase year with the reccipl of further capital 8ranis and redue¢s by amounts each ye4r equiva]cnt io depreciaiion charBe5 andlor by repair c05r5 ffcaied as revenue expcndiiure. Unrestricted funds The unresiriued funds comprise those funds which the It¢s art frt¢ io use Èn awoTdance with thc chanble objectives. Desiglllted fund5 A designaied fund was cre4ted in Order to allocate fvnds for eslimatrd OFffltin8 COSt5 St¥)uid be a signifi¢Hnt d¢¢rease in funding. Movements in ftrnds (Charitsble CompwJyl Page 26 coniinued...
BAROD PROJE Not¢5 to th¢ Consolidated Financial Stlements- eontinued for ib¢ Year Ended 31 Mareh 2023 21. MOVEMENT IN FUNDS- cofitinued Trdnsf beDveEn reS¢Tves At 31.3.23 movemcni in funds Ai 1.4.22 Unrestrirted fynds General fvnd R¢sirirl¢d fynd$ Capital I.5.31 77.681 1.577.987 541.986 TOTAL FUNDS 2 055 807 2 119973 Nei movemeni in fu included in the a¥¢ are as follows.. Intomin8 Rtsources Jurtts expendcd Movement in funds Unrestricted funds General fund 8.130.377 (8.052,696) 77.681 Restricted fuftds Capiial 208.851 1222,366) .339,228 8.275,IX52 Restricted funds The restried funds relaie Lo captthl granisexpended on fixcd these fund5 inrrease each year with the recei of furth¢r ¢apiial 8ranis and reduces by arnount5 each yw cquivaJ¢ni io d¢pr¢ciaiion tharges athdlor by repair costs w¢aied as r¢v¢nu¢ cxpcndirure. UnrEstriet¢d funds Th¢ unrestricied funds tomprise those funds which the trustees arc fTte in xcordance wilh th¢ charitable ¢bje£tives. 22. RELA TED PARTY DISCLOSURES During the year. Ihe Barod Project gave a wi of £40,461 12022 - £16.981) Tyfu Community Enierprises CIC. At th balance sheet date. Tyfu Communiiy Enierprises CIC ow¢d th¢m £38.271 (2022- £62,164) and owcd £8.31712022.. £8.J17}. At Ihe balance shea dale, Cymru (Harni Redutlion) wu¢ owed £2¢.501{2022.. £207.4881. 23. LEGAL STATUS OF THE CHARtTABLE COMPANY Th¢ charity is a priv ¢ompathy limited by Buarniitt. incorpoed in England and Wale5, and conscgutnily dots noi hawc Sny Share capital. In the t¥t of the company being wound up. the MberS of ihe Comparty aEe reqtsired io coniribuie an amount not ¢x¢eeding £1. Page 27