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 FinaThei*l Statements lor the Ye*r Ended 31 Mareh 2023 Page R¢port •fth¢ Tru$tees I to 6 Report of tht Indeptndeot Auditors Consolidated Ststtmtnt of Fin*neial Activitie5 10 Consolidated B•lante Sheet COM￿nY B¥lanct Shert 12 C•nsolidaie41 Cx$h Ilow S¢•temellt P4•t# to tht Consolidated C*sh now stsltmtnt 14 Iyottj to the Consolidated F•w*ntial State￿ents 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 sta*m¢nts of the Charity and its $ubsidiarie5 for ihe ycar ended 31 Ma￿h 2023 which arc also preP￿d to meet th¢ reqU1￿mEn(S for a direciot5' rcw)rt and accounLS for Comwies 2(M>6 putrx)se5. The fithathtiaj statements comply with the Charities Act 201 l. the Companie5 A￿ 2￿. the Memorandvrn and Article5 of Association and Aceouniin8 and Reporting by Chariiies.. Swemeni of Recommended PwLiCe applicabl¢ io charities pr¢paring their accounis in accordance with thc Financial Reponing Sthndard applicable in th¢ UK and Rcpublicof Ir¢land IFRS 102) l¢ffeetive l January 20151. OWECTIVESANDACTIVITVES Obj¢¢¢iv¢s #nd #ims Barod 15 a Third sector Org3ni5atian (klivtrin8 a range of sttvitts w those who are vulncrablc a￿j m•Jginaliscd a5 a ￿sU1¢ of iheir own or someone else's dru8 andlor alcohol us4 10 improvc their phy5kcal. social aDd eTnotional wellbcing and to rosier rttovtry.Additionally wc airn kn improve individua15'. communsii¢5 5o¢iai¢s widEf5thnding of substan¢¢ us¢ and ￿lse awareness rthe r¢laiion5hip bdween 5ubswKe u￿. vulnwwbility arKI uEIusion. Vislott Barod ￿￿$ io bc recognised by its key stakeholders ￿ the le*Jin8 providu of Inrth￿l¥C and quality seryi￿5 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 0￿r 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 8￿Or alMJYe. 8arod 5¢rvicc5 achievcd aTh avcrnge of 87.2%(2022 .. 90.1%) Key Ptrform*fftce Indic*tor 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 atrx*ve, 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 84.2Y*l 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¢athi￿1 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 Pl￿nIng Boord. Page I BAROD PROJECT Report of the Tr¥$1tt5 ror the Year Ended 31 M8r¢h 2023 OWECTIVESAND ACTIVITIES Significant *I ￿￿¢*lOn, ra￿.[0•face group & aclivitits and PTtvtntion work. The Charity cclebraied it's 50th Birthday in Seplcmbcr 2022 and rr£oBnised the achitvtmeE)s and Work undertaken by all. over the last 50 ycars We continued with adapting ￿lCe5 implcmeniing rfw innovativ¢ 8pproa¢h¢s io s¢rvice delivuy We continued 10 see incre&%d access of all our seryitt5- 50m¢ of th￿< via digithj plaifotms int1￿11n8 our Wtbchai service We havc continued with the ran8e and diversiry of our ￿r¥IreS acr¢)55 4 larger g¢ogr¥phico18rt The Charity successfvlly implerncn*d the new lnr¢gTal￿ %rvic¢ foT 8ridgend from 1st April 2022. A numberof the Charity'5 Needle Exchanges have t*en highlighied a5 king 50m¢ of th¢ busi¢si in Waks. The Ch￿iLY continued io dispense naloxone kits w peopl¢ who u5¢ our s¢rvi¢¢s irt¢ludin8 intrtyjuction of the new online 'Click & tkliv¢r' 5ervic¢. This PToBr4mm¢ h35 lcd ￿ the 5aviTrB of numtrous livts. The Chariry succe55fully irnplcmen￿j ihe ncw Intcgraicd s¢rvic¢ for Cardiff Th¢ Vale with Alliat)ce ParLners IKal¢idoswpe and R¢rovery Cymru) (Torn 151 Augu512022. followirtg a ¢ompetitive tender process. Th¢ Gwenr Drug and Akohol Stryir¢ IGDAS) ha5 ron1inu￿ to OP¢t* successfully, where we panicipate a5 a consortium partner with Kaleid05copc and G4S. The new reknigntd servicc w&$ S1￿cESSfullY 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 N￿lOnal Rcuil¢rs in c¢tsin arcas and hb5 betn re5pon5ible fordisiTibutin£ food Item￿ParetIS 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 pl￿r0￿m$ 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 ￿tE￿o 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 Conlem￿jT2ry digital syyem5 and plaifonns. PTovidc a hnd ond adaw to tsrnds in drug and alcohol and o)surirt8 thaL our ser¥*ces are tltxible and mca Ihe n¢￿S ofthe t0￿Munity. Rtt2in O￿T service provision athd a¢iively seek wi n¢w 0ky)rtUrtiti￿ to expsnd wr Yeach. We havv #chiev¢d 3 number of thr￿ obj¢rtiV¢5 and wn¢inu¢ to grow and dEYelop. Fitt#￿¢1•1 r¢vi¢w Principal f¥ndiTrg sourc¢s Services are fun(kd by and derKndeni on a wiik range of incoming ￿Tr¢S inclwjing Loral Health BoArds. Uni18ry Authoriti Criminal Jusiicc sourccs and from the Welsh Governmcni. Jnvestme*t polity and objeetives The Mana8•n¢ni Commitw has ¢onsiderel the most 8pprowiat¢ ￿)I1¢Y for investi1￿ fuTrJs is to kcep surplus funds ai a bank (kp051t ac£ount. Page 3 BAROD PROJECT Report ofthe Trn$tees for the Year Ended 31 M*rcb 2023 STRATEGIC REPORT Fin*nci*l review Rtstrves polity The Management Commirtee have estsbl15h￿ a p)licy wh￿¥bY th¢ funds noi committrd OT iThveS￿d in tangibl¢ fixed assets I'thc frct reserves") held by ihe charity should bc b￿We¢ll thr¢¢ 3nd Six month5 oftht tesourtts expcndcd. At thi5 level. the manaBemcnt commillee feel thai they would b¢ able io Tn¢¢t the oblig&ions artd requiTemtnts that would Te5uIt should the￿ ir a significant loss in funding. li would obvi(x]sly b¢ nc¢¢ssary to consider ￿>W the fundin8 *￿Id be r¢placed or activits￿ ¢han8ed. Ai the balance she¢( dat¢ the fTr¢ reserve5 amounted to £1.784.571. Efforts 10 inCtt&se reserves in line wilh policy will be made in future y¢&rs. Fyture pl¥ns For the following finartcial ye2r. our 8im$ and objective5 ore= . To continue in deliveriJJ8 all Adult and Youn8 Pcrsons servittl irKludinB co[￿rti￿rn 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 nUrn￿r5 and div¢r5iry of ¢xprrith¢¢ - To prepare for rerarcd on 25 SwtCTnber 1972 and rtgisor¢d Is a charity on 14 Ikcember 1972. The eharity w&s ¢￿ablished under a Memordndum of A550c1￿lon 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 ap￿inIS 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 ￿rYt￿r. The Board dcleg&tes authority thr Chief Ex¢¢u¢iv¢ 0￿1¢¢[ 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 ch￿lty and Ihe con￿Xt wiihin whJch it Opt￿t5. TrdiniThg and infornwion would inrlu(k- the obli8aiions of lh¢ Management Committ¢¢ de￿115 ofthe mwn documentswhich srtout the framewoJ*of thecharity includingihe Mcmordndu of A550Clation resourring and the ¢vrrts¢ finwiaj posilion as in the l*ell audited fir￿nCIal 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 aval￿ble 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. Tn￿1¢¢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$k areas". - Gov¢rnon¢e - Op¢r2tional Financial - Exfrrnal - Compliance wtth Laws & Re8ul&ion5 We rely on a nurnb¢r of grants frorn o small of swrt¢% which aTe awarded on a fLxed-ienn ￿lS only and some may also be withdrawn with liiil¢ noiic¢. We to rtiiligate ihis risk by ￿￿xiT￿ls7n& income generaiinB opporDJniiies leg. Trainin& CDnfcrenets cic.). ¢n5uring thai ihc Charity an adequate reserves FKplicy irt plat< we consideropiions lor diver51ficaiion of incomc Streams and r¢ation of yr*gi¢ aJlian¢¢s and partnerships where appropriate. to8dher with exploring any suitsble t¢nd¢ring opportunities ihai may arise. In such eircurnsianc4 wt bclievt that the Clwity h&$ thc TC5ilicnce and ability ￿ re5¢n1th￿ and ¢ontinue other service5 without impaimienL Aiicniion has also r￿u$&j on non-financ￿l risk& Such as faciliii¢5 for the provision of S¢TVittS. The Charity h&$ 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 &wC1￿ed fundin8 siream. REFEREF4CEAND ADMINISTRATIVE DETAILS R¢gis¢¢r¢d Compxny number 01073381 (England and Walo) Registered Charlty *umber 265008 Registered offJrnprises the inforn)ation includcd in ihe GTOUP Annu&l Report. oiher than Ihe financial stst¢ments and wr Report of Independent AUdI￿r5 thereon. ropinion on the financial 5taternentsdoe5 not cover tht other infomi*ioft 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 re5F￿sIbIlIty is w rcad th¢ other infomiaiion an￿ in doinB so. consider whdher the other inf0m12t1￿ ts maierially in¢on5i*eni 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 MISS￿leMen1$, we a required io dele￿1￿¢ wheiher ihis give5 ri5¢ ¢0 a mawial mi55UiCEn￿l 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 Comp*nie5 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. M*tters 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 s￿ementS 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 info￿all0￿ ar￿ eXplan￿lon5 we require for our audit.. 01 thc irusiecs were noi eniiiled 10 take •Jv￿￿8¢ of Ihe sm￿] companies ex￿ptIon 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￿¢MentorTDJ￿e¢s, Rc5POn5ibiliii¢8 them1#￿5 Iwhowealso thed1Tett0￿ of the charitablc CoMp￿Y 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 p￿paring 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 T￿Onable &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¢ ag8￿gaTe. 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￿¢11￿8 i1Te8u1ariii￿ including fra￿1 i$ (ktaikd btlow.. Identifying and a55e55ing potential risks Tel*ted 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 ab￿1 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 rtgul*ions 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 ￿8￿1￿10￿$. {ivl Ihe matiers discussed 2mong ihe wdii cngagcmcni tc4m regarding ljow aThJ whert frnud mL8ht o¢cur in the financial 5taicmcnis pthd any ￿tt￿lia1 indicau)r5 orrrdud. As o resuli of ihe5¢ proc¢dure5. we ¢on$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 COMp￿Y operates in. r￿U$l￿8 on provisions ofthose taws and tt8ulations had a direci eff¢￿ on the ddennination of material 8mouDts athd di￿11}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 regul￿10n5 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 ma*riaJ 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 *Min8to￿p￿n"n8￿yCum¢n￿t1on 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 uneXp￿ted relationthip5 thal Tnty ithdi¢a* risks of mii¢rial misstaiemtni due to fraud. and {dl In addrtssin8 the risk or rraud thr￿gh 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 rcgul*ionsand potenti￿ fraud ri*sto all tngagemeni Learn mtmbers and remained alert to any imdi¢aiions of frnud or thon*ompliarKe with laws rtgulatths thtoughwt the OLxJiL Page 8 AC￿rt 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 d￿t￿l￿g 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 diffi￿11 Lo detect Ihan iffe8ulariti¢s ihat resuli from eTror. As explained abovc. there is an unavoidabk risk lh￿ m&erial misSts￿ments 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 A￿litOrS. 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 51*e 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$0]tdat￿ Statement ol Finaneial Activities {incorpor4ting In¢om¢ and Expendlture account) for the Year E•ded 31 March 2023 31.3.23 Total funds 31.3.22 Totsl funds Unrestric*d funds Re5trided fvnd5 Notes INCOMEAND ENDOWMENTS FROM Donations and legacics 1777 2,777 978 Charitable activili¢s Drug atO Al¢ohol SeTViC¢S Out ofwork Prowrnrnc Other Servitts Drink Wise Age Well ProBramme FundinB in relation to Co¥id 19 Coronavirus Job Retel)lion Seheme 7.101.962 7,101.962 5,882.083 410.041 368.566 30.342 4,500 5,146 371.389 208.851 380.240 Other ITadin8 activitie5 Invtstment income Other incomc 29.995 4.31X) 29.995 4,3(K) 14.175 248 187.094 Totil 8.159.423 208851 8 368.274 6,￿3,173 EXPENDITURE ON Rai5in8 fvnd5 70.573 70,573 35,530 ChAritsble attivities Support and ¢￿work Trainith8 7.962.5( 222,366 8,184.875 49.725 6,742,382 Total 8 082 807 8 305 Irj 6814644 NET INCOMFJ(EXPENDITURE) 76.616 (13.515) 63.101 88,529 RECONCILIATION OF FUNDS Tothl fund5 broughi forward 1.707.955 855.502 2.563.457 2,474,928 TOTAL FU14DS CARRIED FORWARD 2 626 558 2 563 457 Th¢ notes fonn part of these ftnancial staierneTIts Page 10 BAROD PROJECT CoAsolid*ted Balance Sheet 31 March 2023 31.3.23 Tothl funds 31.3.22 Total funds Unresrriaed fun Resrrictrd funds FIXED ASSETS T4n8ible assets 15 101,319 1.365,888 1.467.207 1.550.030 CURRENT ASSETS Stocks Debiors C&sh ￿ bank and in hand 16 17 1.286 1,377.282 1 335 942 1.723,366 1.217.937 1,723.306 1217937 2.942,363 2.942.363 2.714.510 CREDITORS Amounts fallin8 due within onc year 18 (1.259.111) 1216.2(Kll 11,475,311) 11,300,300) NET CURRENT ASSETS 216 21YJ) l 467.052 1414210 TOTAL ASSETS LESS CURRENT LIABILITIES 1.784.571 1.149.688 1934.259 2,964.2410 CREDITORS Arnounts falling duc ofter more than oneyear 19 (307,7011 {307,701) (4￿.783} NET ASSETS 784 571 841.987 2.626.558 2 563 457 FUNDS 21 Unrestricied funds Resirickd fund$ .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 Slat￿￿15 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 M*rch 2023 31.3.23 Toral funds 31.3.22 Total fwids UTrT¢stric*d funds Restrictrd fund Notes FIXED ASSETS TanBibl¢ a55c¢s 13 I￿.311 I.1￿5.888 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 un￿lrI¢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 Cons01id*ted 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}oF*rntirtB 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 equi￿1¢￿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 Cortsolid*ttd Cash Flow Ststem¢nl for the Year Ended 31 March 2023 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPEKITING A￿1VITIEs 31.3.23 31.3.22 Net Income for the reporting period1*s PEr tbt S¢*t¢me#t of Fin*tscial Activities) AdJ￿StMents 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 M*rth 2023 ACCOUNTING POLICIES B*si8 •f preparing the finan¢i*l 5t*tements Thc financial statements of the tharirable compary. which is a public trxnefit entity under FRS 102. have been prepared irt accordance wilh the Ch￿11)¢5 SORP IFRS 102)'Actouniin8 and RerKTrnin8 by Chariiies.. Swemcni of R￿Orn￿ended Ptactict applicable io charit1¢5 preparing their accounts in a￿OrdaneC 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 sta*met)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. DOn￿l0Th5 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¢ fur￿4 the income is dcferTcd and noi rccognised in full either uniil ih05e conditi￿S 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 ￿bsidI￿ry cniili￿ cxcludgj fronj Con￿¥[1d￿LI0rt. This is reco8niscd when thc iisks and rcwards have tten iransfcrrcd. Donated services. u5ets and f*rilitie5 Donated prof¢5sional 5crvice5, dwated a5￿tsar¥I dol￿ted 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 ex￿￿1(Ure in the of rtttiM. L*)na*d 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 acc￿￿1$ 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- foDtiD￿td 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 u￿rUI life. Freehold property Short leasehold Fixitsres and fiNIft8S Motor vthicles Compuicr cquipmeni 2%onc the periiwj of the It*e 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 di￿nI offerttl. Prtpaymtnis are Valu￿ 0¢ lh¢ arnount prepaid net of any trade discouttts d¥e. Cash at b*rtk Ind ith h*nd 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¢$5 from the da￿ of acquisiti￿ oropening of thc dcp05il orsimil8r&rounL Creditors provisions CTcdiwr5and provi5ion5 r¢rogni5wJ where the charity has apreseniobli8aiion wesuliing from a post ¢v¢nt that will probably resuli in the tyansfer of fund5 10 a third party and iht amount due to senle ihe obl18￿10n can bc m¢asured oresiimated reliably. CreditOTS and PTOViSiOnS are nornJaJly re£o8rtised ai their settlement amouni afler allowing for any trade discounts due. Finxncial instrurntnts The Group only has financi￿ asseLsand financial liabiliiic50f akind thatqvalify os b*si¢ financia] Inst￿[￿nts. Basic fIr￿ClaI in￿rUMentS art initially recognised at uan5Xtion vaiuc atKI sub5•4u¢ntJy measurtd at thcir settlcmcni value. Stocks Siocks are va]ued ai thc lowcrof o￿landn￿ Tealisablev￿Ue, afttrmakirt8duc alk)wance for ob501el¢ and slow moving items. Taxatio The charity 15 exempt from COTporatLDn l&X Ort Lts charitable athivitits. Unr¢stricL¢d funds can bc used in xcordance with the chariwblc obicctiva at ¢1* discrdiot) of the trnsiees. Restricted funds can only k used for particular re5Wtci¢d purp05¢5 within the objetts oFthc Group. Restrictions aTi5C when specified by thc dothor or when funds arc rdi5ed for particular ￿$￿¢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 fv￿l 15 I￿lud￿ 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 ￿01￿1( lives and residual value5 of the 3ss¢ts. The useful economic lives and Te$LdU￿ values are re-assessed annually. They are arn￿ded 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 Donati1￿5 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 Depo￿1 ￿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 Purch￿5 9.672 37.712 713 4,341 24.210 335 751 2.540 513 540 Moitsr cxp¢ns¢s Rtpairs & maIntena￿e 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 Equipm￿1 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￿[c￿diIJngl'. 31.3.23 31.3.22 AudiloTg r￿ullerall0 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 trust￿5. ￿M￿nerallon0rOtht￿be￿efits 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 co￿5 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¢ ￿[$0￿￿1 tNStre5 Sil Within key operatiottal and stNe8ic roles forthc Charitsblc CornpaThy. The iotsl employment bencfits of the key management PEf50nn¢l W¢Te £192,41KI (2022.. £I81.9721 which Consisted of gross pay, tmployers, national in￿rance and employu5' pension c051S. The average moftthly number of cmployecs durin8 the year w35 a5 follow 31.3.23 174 29 31.3.22 ChaTi¢obl¢ a¢iivilies Management and admini5trdtion 26 203 177 Page 20 Continued... BAROD PROJECT Notes to the cons01id*led Financial Stsiement$- 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 £60.1￿7 - £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 Q￿work 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 COmp￿Y has tske advan￿8¢ 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 ASs￿S- 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 $49 DEPRECIATION Ai l April 2022 Chorge fory¢ar Eliminated on disp)sal 326.730 174 218.381 10.107 31.2￿) 381.728 4.704 1.371.313 241.503 Al 31 Marth 2023 326. 1016342 NET BOOK VALUE Al 31 March 2023 1467 207 At 31 March 2022 4.707 1.550.030 CHARITABLE FTXED AssEfs {CHARITABLE COMPANY) Fred￿ld prop¢rty Improvemenis (o Property Shon le&sthold COST Ai l April 2022 Additions Disposals 76&805 793.035 157.51X> 178 782) 14.580 At 31 March 2023 768 805 771753 DEPRECIATION Al l April 2022 ChaT8¢ for the year Elirninaied on disposal 144.450 15.J76 217,782 208,850 178 782} 82.242 2,292 Ai 31 March 2023 159826 247 850 NET BOOK VALU Al 31 Match 2023 608,979 s23.￿3 30.046 At 31 M￿Ch 2022 624 355 575 253 Fixturcs and rittings MNor Vehicl¢s Comptsicr Equipmeni Total COST Al l April 2022 Addiiion5 Disposa15 319.777 231.759 386,435 2,614.391 157.500 596 4771 386 435) At 31 March 2023 319.777 2.175.414 Page 23 coniinued... BAROD PRalE Notes to the Consolidated Finaneial Statements- continued for the Year Ended 31 March 2023 Is TANGIBLE FIXED ASSETS- DEPRECIATiof4 At l April 2022 ChaT8e for the year Eliminaied 319.777 2l&381 10.107 381.728 4.704 386 432) 1,364.360 241.329 596 4741 Ai 31 Mar¢h 2023 319777 197.228 NET BOOK VALUE Ai 31 March 2023 3.271 At 31 March 2022 250.031 Shon tenn It￿S are represenied as follow5.'. CAPITAL VALUE LEASE PERIOD GRANT Amortisoj VALUE PROPERTY GRANT TREATMENT 25 North Parnde. Aberystwyth St Fagans House, Caerphilly Lower Dock StreeL Newport Ebbw Vale Instituie Kingsway. Swansea West Buie SL Cardiff Vaughan SL Llanclli 180.(MKI 180.(XIO 115.2 19.053 120.LXK 137,5 3Yea 3 Yews 3 Ytws 3 Years 5 Ycars 5 y￿j$ 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 ¢oyrtsp￿nd1nB 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 charl￿ble CoMp￿Y 31.3.23 31.3.22 Amoun15 T￿O¥cr￿ble 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.- AmOU￿s 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 coM￿Y. 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 $63 457 2 626 558 Page 25 Dtinued... BAROD PROJECT Notes to the Con501id*l￿ Financial StsteThents- eontiftued for the Yur Ended 31 MArch 2023 21. MOVEMENT IN FUNDS- continued Net movement in fund5, incltyjcd in the above as follow5: Incoming resources Eie50urces expended Movement in funds Unrtstricted funds General fund &159.423 {8.082.8071 76.616 Restrict￿ fuJtd5 208.851 (222.3661 TOTAL FUNDS 8.368 274 8.305 1731 Compar¥tiV¢s for movement in f¥lld5 Nel movement In funds Ai 31.3.22 At 1.4.21 Unrestrirttd furbds General fund 1.6Lh5,( 101.865 1.707,955 Restritted funds Capithj 86&838 113,3361 855,502 TOTAL FUNDS 2.474.928 88.529 2 563 457 Comparative nct movemeni in fvnd& includ￿1 in the atM)ve are a5 follow5.. Incoming resources Resources expended Movem¢nt in ￿ndS Uthyestritted funds Generdl fund 6.648.233 16.544368) 101.865 Restric¢¢d funds C)pit31 254.940 (268.2761 (13.3361 TOTAL FUNDS 6 ￿3.173 6 814.6441 Restrieted funds Tht rtstrictcd fund5 relate lo capital Brants ex￿1th on fjxed asstts, Ihtse funds increase year with the reccipl of further capital 8ranis and redue¢s by amounts each ye4r equiva]cnt io depreciaiion charBe5 andlor by repair c05r5 ffcaied as revenue expcndiiure. Unrestricted funds The unresiriued funds comprise those funds which the I￿￿t¢s art frt¢ io use Èn awoTdance with thc chan￿ble objectives. Desiglllted fund5 A designaied fund was cre4ted in Order to allocate fvnds for eslimatrd OFffltin8 COSt5 St¥)uid be a signifi¢Hnt d¢¢rease in funding. Movements in ftrnds (Charitsble Comp*wJyl Page 26 coniinued... BAROD PROJE Not¢5 to th¢ Consolidated Financial St*lements- eontinued for ib¢ Year Ended 31 Mareh 2023 21. MOVEMENT IN FUNDS- cofitinued Trdnsf beDveEn reS¢Tves At 31.3.23 movemcni in funds Ai 1.4.22 Unrestrirted fynds General fvnd R¢sirirl¢d fynd$ 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 restri￿ed 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. incorpo￿ed in England and Wale5, and conscgutnily dots noi hawc Sny Share capital. In the t¥￿t of the company being wound up. the M￿berS of ihe Comparty aEe reqtsired io coniribuie an amount not ¢x¢eeding £1. Page 27