OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator. This document is also available as Markdown.

← Goleudy Housing and Support Limited

2025-03-31-accounts

.

!

GROUP REPORT OF THE TRUSTEES AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 FOR

GOLEUDY HOUSING AND SUPPORT LIMITED

A04 11/11/2025 gg |y ATION a COMPANIES HOUSE

Registered Company Number: 1195549 Registered Charity Number: 504094

‘

.

.
Contents Page
Trustees’ Report 1-36
Statementofresponsibilities 37 -38
Independent auditor's report 39-42 .
Statement offinancial activities 43
Balance sheet 44-45
Statement of cash flows 46
Notestothefinancialstatements 47-66

GOLEUDY HOUSING AND SUPPORT LIMITED

TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2025

Our objectives and activities

The Charity

Goleudy Housing and Support Limited (Goleudy) is a Welsh charitable company operating in the third sector.

We are based in South Wales and have been established since 1975.

*: We prevent homelessness

: We provide housing and support . services “+ We help our clients create meaningful connections AI. : We tackle poverty and social | NS no Fee exclusion wm | We GE IE are a medium-sized organisation E + providing services for some of Southa _ ec West Wales's most marginalised and eo ij { | disengaged citizens. Typically, our ef " j i r clients will have experienced an |eee homelessness, housing vulnerability, Y . [= ————— rooflessness, housing crisis or trauma. |.OF} i imOF} i im i im im |baa | a z.baa | a z. | a z. a z. z. Many people who use our services nei fee fee BiRIFc|Es 9ot experience poverty and food insecurity a and may be marginalised or suffer stigma. Some of our clients have mental health difficulties, experience substance use, a lack of family or social support networks or are leaving prison.

==> picture [247 x 237] intentionally omitted <==

----- Start of picture text -----
.
=
AI. nih
| NS no Fee ~
wm | 7)
GE IE
E + mes
a _ ec —- =
eo ij { | [rn f ‘
ef " j i r ine if
an |eee
Y . [= —————
|.OF} i imOF} i im i im im |baa | a z.baa | a z. | a z. a z. z. ese
nei fee fee BiRIFc|Es 9ot
a
----- End of picture text -----

-1-

GOLEUDY HOUSING AND SUPPORT LIMITED

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Charitable Objects

The objects for which the Charity was established are:

The relief of poverty, sickness and old age in particular (but without in any way limiting the generality of the foregoing words) for the relief of poverty of persons who, by reason of mental or physical infirmity, are unable to fulfil their duties as citizens or their obligations to their employers.

Goleudy Projects

We provide housing-related support, temporary accommodation, community, and health and well-being services.

Our Values and ethos

During the year, we refreshed our organisation’s stated values:

-2-

GOLEUDY HOUSING AND SUPPORT LIMITED

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Our Aims and Objectives

We work to improve the lives of our clients and create opportunities and connections for them.

We provide housing-related support, temporary accommodation, community, and health and well-being services.

How we achieve our aims varies by project. A local authority contract, grant funding or donations provide finance for each project. We use that income to purchase and provide accommodation, employ support workers, and provide appropriate structures to empower our clients to gain independence.

We measure our success through the scrutiny of client and project data, through the review and audit purposes required by external stakeholders, and via our own QMS (quality management system), for which 1509001 recertification was achieved in December 2023.

Our business plan for 2023 - 2026 is centred around three strategic objectives:

.

These objectives are cross-cutting and interlinked to focus on the clients' experience.

Increasingly, we have shaped our organisation and its services towards being ‘Psychologically Informed Environments’.

We co-produce our services to be ‘person-centred’, ‘trauma-informed’ and provided within a ‘psychologically informed environment’ (PIE).

Like most PIE models, Goleudy’s PIE contains five elements:

-3-

GOLEUDY HOUSING AND SUPPORT LIMITED

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

.

Goleudy has developed its own unique PIE model based on the principles of solutionfocused practice and our history of working in partnership with a group of psychologists - ‘Working Conversations’ and Liverpool University.

1) Developing a psychological framework

Our support services are modelled on the values, assumptions, and skill base of solutionfocused practice (SFP), a socially constructed form of psychotherapy that locates the expertise with the client rather than the worker.

Regarding the client as the best expert in their life, SFP pays attention to what the client seeks and looks to amplify progress, focusing on strengths and resources in their life. Pioneered initially during the 1980s in Milwaukee in the US, it has developed as a shortterm, goal-focused, evidence-based approach. Now a global phenomenon, it boasts empirical evidence that it is as successful as most modes of psychological therapy. Its core tenet is that it helps clients make changes by creating solutions rather than focusing on problems.

Many organisations engage psychologists to undertake this part of working in a PIE and ‘trauma-informed’ way. In 2019, ‘Working Conversations’ provided Goleudy with a consultancy report entitled ‘The Making of a PIE (People Informed Environment)’. This document has been instrumental in the development of Goleudy’s approach.

This report has since been augmented by the two research projects that Liverpool University has undertaken.

These documents have been instrumental in creating the ‘Informed by People’ section of the Business Plan.

,

2) The Physical Environment

This aspect of PIE considers the role of the environment for both staff and clients. Goleudy's ‘Creating Spaces of Opportunity’ focuses on continually upgrading and refurbishing our client accommodation and the project premises where services are delivered.

,

~4-

GOLEUDY HOUSING AND SUPPORT LIMITED

;

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

:

3) Staff training and support

The training programme for our staff has been iteratively developed over the last ten years or more. We have moved from teaching structured solution-focused practice skills training to a more tailored approach for staff.

4) Managing relationships

We invest in our people strategies, recognising that our staff need support, resources, professional development and facilities to maximise our clients’ benefits.

==> picture [451 x 138] intentionally omitted <==

----- Start of picture text -----
Our training and development focus on —
the thinking and behaviour that help
establish strong working relationships a— | SO .
between our teams and lead to ~ . eT |
productive working relationships with i q ae
,; || &&Goleudy | e
clients. ec ~ = |
5) Evaluation of outcomes ee ee ms ABincap :
Alongside our research relationship Eds a nes
----- End of picture text -----

Alongside our research relationship Eds a nes with Liverpool University, we also collect data to help us understand the distance travelled by our clients and the difference our services make.

-5-

GOLEUDY HOUSING AND SUPPORT LIMITED

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Our Activities

Goleudy has two service arms: Supported Housing Services and Community Services.

Supported Housing Services

==> picture [237 x 161] intentionally omitted <==

----- Start of picture text -----
ae EY
ia J “4 Ey
PaJJ f Ler £ , ee
~
~- 3 MPS tat
S39 =: / .
‘=" a
ee | wa? a
Noe ee
2 >
----- End of picture text -----

Ouracross supportedsix Welshhousinglocal authorityservices operateareas: PaJJ Swansea, Neath-Port Talbot, Carmarthenshire, Bridgend, Merthyr Tydfil, and Pembrokeshire. These services are funded mainly by the Welsh Government's Housing Support

Grant, which is administered via contracts awarded by Welsh local Authorities.

We offer:

Community Services

Our community services operate in Swansea and are funded through various sources, including independent grants, health board grants, and statutory funds such as the Shared Prosperity Fund.

==> picture [444 x 124] intentionally omitted <==

----- Start of picture text -----
P cr ryt pe x, | We offer:
e'. EP e .
.R 4
: _ : Food distribution and prevention of food waste.
ob . ys Hl _ bois * Community activities
. Le Of » wo * Skills development programmes
i ; a a
ay fi] “ Specialist mental health services
ee OP Pp x a
----- End of picture text -----*

-6-

GOLEUDY HOUSING AND SUPPORT LIMITED

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Details of our projects can be found on our website: goleudy.org.

Public Benefit

Our activities directly contribute to the Charity Commission's guidance on public benefit.

Primary Benefit

Goleudy assists over 1,400 vulnerable adults every year across a range of services. The primary benefits experienced by clients of the charity include:

.

==> picture [2 x 1] intentionally omitted <==

----- Start of picture text -----
;
----- End of picture text -----

-7-

GOLEUDY HOUSING AND SUPPORT LIMITED

TRUSTEES’ REPORT (CONTINUED) . FOR THE YEAR ENDED 31 MARCH 2025

Impact on the public and public spending

Goleudy's work helps to reduce visible homelessness, produce safer communities, and foster social cohesion:

Goleudy's trustees can demonstrate that they have had due regard to the Charity Commission's guidance on public benefit, as there are independent studies and strategy documents that can provide evidence that the finance spent on third-sector housing services in Wales has a positive return on investment.

Our Supported Housing Services

Goleudy helps people at every stage of the journey toward independent living and sustainable housing, including homelessness prevention, short-term transitional housing, long-term specialised housing support, and community integration.

==> picture [470 x 204] intentionally omitted <==

----- Start of picture text -----
at | ' oa
—— wer | PPR ie © a a
;a ari ,; - DD vnfcreea en Rgahae ian2-9s LeAEA Vs/By ieeXye2:
1 an eins
4
----- End of picture text -----

GOLEUDY HOUSING AND SUPPORT LIMITED

.

.

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Homelessness Prevention

The prevention of homelessness is a vital part of the Welsh Government's Housing Wales Act 2014. Our homelessness prevention services concentrate on two primary functions: stopping individuals from losing their homes (Floating Support) and preventing people from sleeping rough on the streets. This includes rapid re-housing services with temporary accommodation and outreach.

Floating Support - Swansea, Merthyr Tydfil, Carmarthenshire and Pembrokeshire

. These services are tailored to assist individuals who are either at risk of losing their homes or have recently secured accommodation following a period of homelessness. They are delivered by dedicated teams of support workers who provide personalised, one-to-one support. This includes help with navigating housing systems, managing tenancies, accessing benefits, and building essential life skills such as budgeting, cooking, and maintaining a safe and healthy home. The aim is to prevent repeat homelessness by promoting independence, resilience, and long-term housing security.

Key services include:

These comprehensive services are crucial in helping individuals maintain their tenancies and rebuild their lives with stability and dignity. By providing consistent, personalised support, they enable people to overcome past difficulties, develop essential life skills, and participate more actively in their communities. Ultimately, these services establish the foundation for long-term independence and sustainable, healthy living.

-9-

GOLEUDY HOUSING AND SUPPORT LIMITED

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Outreach

The Access Point project in Swansea provides a comprehensive support system for individuals facing homelessness or housing issues. The services include:

Short-term transitional housing (Paxton Street Hostel and Maple Tree House)

The hostel in Paxton Street, Swansea, provides 13 rooms for individuals experiencing acute homelessness. It offers essential support to help them transition to permanent or supported housing. The project actively works with these individuals to overcome barriers preventing access to stable accommodation.

In 2020, the project started piloting a new rapid-rehousing support model, which has been recognised as a valuable addition to the program. Rapid Rehousing is an internationally recognised approach designed to ensure that anyone experiencing homelessness can move into a settled home as quickly as possible, rather than remaining in temporary accommodation for extended periods.

The hostel currently employs a Rapid Rehousing Support Worker, who plays a crucial role in the effectiveness of the rapid-rehousing support model. This support worker helps ensure that individuals experiencing homelessness can quickly transition into stable, permanent housing, minimising their time in temporary accommodation and addressing barriers to long-term housing stability.

)

-10-

GOLEUDY HOUSING AND SUPPORT LIMITED

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Additionally, the hostel is making significant progress in its journey towards creating a Psychologically Informed Environment (PIE). This includes implementing training and evaluation frameworks for supported housing projects. Solution-focused practice has further enhanced this initiative, contributing to the overall success and effectiveness of the support provided.

During the financial year, Goleudy successfully launched a new project in Bridgend. Maple Tree House is a 24-hour supported hostel that offers short-term accommodation and support to individuals aged 18 and above who have experienced homelessness and may require some assistance to live independently. The project includes nine bedrooms and communal areas, including lounges, a reception area, and a garden. There are shared kitchens, as well as bath and shower facilities.

==> picture [451 x 219] intentionally omitted <==

----- Start of picture text -----
The project consistently aims to be a psychologically and trauma-informed environment,
prioritising the strengths and ; =
resources of our residents. Its :— a
goal is to support clients by @ may i"
working with them to develop | wturdey —. & SN :
the skills and experience = ley | > ,
needed to manage theirown [ee ——y 7 rN os 7“
accommodation and live a se =I
independently within the BS: Se. 4 _
community. “oy ‘ate 4 ’ ae
Long-term transitional ~4 ¥ einen
housing (ROADS, ° : -
Willow Project and New / mn
----- End of picture text -----

ROADS (Recovery Oriented Alcohol! & Drugs Support) supports tenants by focusing on harm reduction, stabilisation, and well-being. This project includes three small schemes that house individuals who have experienced homelessness and face ongoing mental and/or physical health issues due to long-term substance misuse and dependency. The goals of ROADS are to:

-11-

GOLEUDY HOUSING AND SUPPORT LIMITED

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Support workers advocate for tenants whose health has declined, helping them access additional support and more suitable accommodation when necessary.

The Willow project supports homeless individuals with diagnosed mental health conditions who are under the care of a Community Psychiatric Nurse (CPN). Registered under the RISCA regulations with CIW, Willow assists residents with their medication through prompting and observation.

We support tenants by promoting and enhancing the skills needed for independent living in the community.

Our person-centred approach enables tenants to make informed choices about their lives,

==> picture [466 x 173] intentionally omitted <==

----- Start of picture text -----
ambitions, and goals. This support
framework empowers individuals to take
. ma control of their own lives, encouraging
ae i me greater independence and self-reliance.
is Ss, write | New Mill Road is a step-down
ft — by ft = supported service offering
| i aul IT ni is accommodation for individuals in the
nm wre a .. LL |, community who seek greater
| = fhea est, yk rh independence. It acts as a transitional
ACRO OT ere phase towards fully independent living.
“ 7 mam 6he project allows tenants to
----- End of picture text -----

experience settled accommodation within a shared living environment, with support to maximise their independence. Support is provided in various ways, including on-site presence and telephone assistance.

Community Housing

We also provide supported accommodation in a shared community housing setting in Swansea, Neath-Port Talbot and Carmarthenshire, with access to flexible daytime support from a Support Worker. We collaborate with other agencies to help clients

develop independence and daily living skills, facilitating their transition to their own accommodation.

-12-

GOLEUDY HOUSING AND SUPPORT LIMITED

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Support Offered:

Our Community Services

Connect

Connect : . . offering ais wide a daytime range of community activities tailored for resource individuals living with long-term mental health conditions or learning challenges, many of whom also face social isolation. Its main aimis to help members maintain and enhance their well-being while promoting social inclusion. By doing so, the service empowers people to live as independently as possible.

==> picture [199 x 142] intentionally omitted <==

----- Start of picture text -----
NEB ewes! 4%e—A__EN,
| myfae |Vea&‘4 Oeicsa) -
yer YB ls 4 zal
5 \Vm~ ~N . 7. Ns
VV iz ‘
3% ae
[AME Aw — Bt, g
f |
| /
a Pal sO
----- End of picture text -----*

-13-

GOLEUDY HOUSING AND SUPPORT LIMITED

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Alongside its activity programme, the Connect team provides practical support to help members manage everyday challenges. This includes tenancy advice, assistance completing applications such as Personal Independence Payment (PIP) and other benefit claims and supporting members to arrange GP and other healthcare appointments. The project also encourages members to participate in community-based social and well-being activities through a personalised programme that might include time in nature, exercise, crafts, healthy eating, cultural visits, and more. Peer support is central to the approach, with regular opportunities for members to come together for social events and activities and weekly “coffee and chat” sessions led by the Goleudy Community Team.

Swansea Community Fridge

The Swansea Community Fridge plays a crucial role in redistributing fresh food that would otherwise go to waste, making it accessible to everyone in our community. In doing so, it not only helps cut down on food waste but also addresses food insecurity, ensuring that fresh, healthy produce reaches those who need it most.

==> picture [462 x 233] intentionally omitted <==

----- Start of picture text -----
| | poy y P Our work relies on the generosity of local
oT OMY RY supermarkets, which donate surplus food
eens F Deg to us each week. The quantity and variety
7 ' of donations vary, reflecting the changing
eat nature of food availability. We also grow
i 4 aS fresh produce in our small garden and
| pes encourage local residents to share any
ne surplus fruit or vegetables they have
| es grown at home.
As an active member of the national Community Fridge Network, coordinated by Hubbub,
Swansea Community Fridge is committed to sustainability. Most of our collections use the
Charity e-bike, which our supporters generously fund. These bikes significantly reduce our
carbon footprint, help us navigate the city’s busy streets, and allow our team to enjoy fresh
air and exercise at work.
----- End of picture text -----

-14-

GOLEUDY HOUSING AND SUPPORT LIMITED

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

:

.

Our impact - achievements and performance

Goleudy has achieved significant milestones throughout the year, improved services, and delivered impactful change.

Here, we highlight some notable accomplishments, although this is not exhaustive.

New service in Merthyr Tydfil

During the year, Goleudy successfully mobilised a new floating support service in Merthyr Tydfil. A new team was recruited and quickly integrated into Goleudy’s organisational structure. We have forged crucial partnerships in Merthyr, working closely with the local authority and other stakeholders to ensure the success of this vital service. The project's impact has been significant and has delivered on its aims to help clients manage tenancyrelated issues, preventing homelessness, eviction or tenancy failure. Goleudy’s expansion into a new county is also significant, contributing to our growth.

The dedicated team at Merthyr Floating Support has been actively expanding their drop-in : services throughout the Merthyr Tydfil area in South Wales. In addition to weekly sessions at a local food bank and an assisted living residence, the team also conducts home visits to ensure support reaches those unable to attend in person. These combined efforts have madea significant difference in the community, offering vital housing support, strengthening local connections, and helping individuals access the needed services.

.

Maple Tree House

Similarly, Goleudy mobilised an entirely new residential project near Bridgend town centre in partnership with Bridgend County Borough Council. The project’s launch required urgent action, close collaboration and a determined effort from all parties. This was achieved, and the project is delivering beyond expectations. We are delighted to have added Maple Tree House to our portfolio and look forward to working closely with this Local Authority on future projects.

.

~15-

GOLEUDY HOUSING AND SUPPORT LIMITED

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Goleudy’s Community Hub

During this financial year, we completed the full refurbishment of our Swansea headquarters at Customs House. The building was transformed, significantly enhancing the working and project spaces. The project's main feature was the creation of a vibrant Community Hub. The project, delivered with support from the Shared Prosperity Fund (via Swansea Council) and Community Facilities Programme (Welsh Government), offers:

==> picture [218 x 42] intentionally omitted <==

----- Start of picture text -----
pS
ern ae oe
----- End of picture text -----

This legacy project was completed on time and under budget. The Hub is already a vital social hub in the local area, providing an excellent facility that will offer the community significant opportunities for many years.

-16-

GOLEUDY HOUSING AND SUPPORT LIMITED

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Housing Improvements

During the year, the project to update and renovate many of our residential and project spaces has continued. Significant improvements have been made to the condition of many of our buildings, creating improved work and living spaces. The delivery of 21 new units of accommodation in Tontine Street after the year-end is a significant milestone that will be transformational for residents.

Embedding Solution Focused Practice (SFP)

Our support approach recognises that clients are the best experts in their own lives. Since 2011, we have trained our staff to use SFP to empower clients to identify their strengths and overcome challenges. In 2025, Goleudy recorded an average of 12,500 client conversations per quarter, all representing opportunities for positive change.

‘Informed by People’ Initiative

In 2025, Goleudy appointed a dedicated Informed by People Manager, responsible for staff development, client sessions, and reflective practice across services. This role serves as our affordable, scalable alternative to employing a clinical psychologist, directly impacting both staff capability and client wellbeing. In addition, we have seen 90% of staff complete introductory SFP training, new e-learning modules launched to ensure faster onboarding and consistent skills, and Reflective Practice and management training increased staff confidence and cohesion. |

==> picture [2 x 2] intentionally omitted <==

----- Start of picture text -----
_
----- End of picture text -----

Goleudy’s Green Plan comesto

life.

Having launched the Green Plan in 2023-24, Goleudy demonstrated its commitment to sustainability by adopting environmentally friendly practices across our operations. This included expanding recycling programmes, reducing energy consumption, and promoting sustainable living practices among our clients and staff. Wherever possible, Goleudy invests in green technologies to lessen our impact on the planet. We have improved the recording of carbon data and are now able to track progress in a concrete way.

-17-

GOLEUDY HOUSING AND SUPPORT LIMITED

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Supporting our People

The year ended 31 March 2025 has seen Goleudy continue to transform its culture and improve the staff experience in a meaningful way. Job vacancies and the use of agency staff have steadily declined, improving client experience. We achieved this by:

==> picture [225 x 169] intentionally omitted <==

----- Start of picture text -----
ig
F
xe) a .
- yt J
a, ) ae = 4
, ( 4 ie :
oo... gy Sie ‘Ss y y # A\ WY
- ~ a , \ me -
\ pe rae —, —_, anu ‘a \ \y
— = ———
----- End of picture text -----

We have also focused on improving staff oo... gy Sie ‘Ss y y # experience. A new HR team introduced a - ~ a , \ comprehensive policy framework and \ pe rae —, —, anu ‘a launched new wellbeing initiatives, — = ——— including mental health seminars, Couch to 5K, and Paycare benefits. In addition, new supervision and appraisal systems focus on staff voice and career growth.

Governance, growth and influence

We have also seen achievements related to the organisation's operations. Goleudy retained 1S$09001 Quality Accreditation and implemented internal audits, providing tangible opportunities for continuous improvement. We also played a visible role in sector advocacy, contributing to Welsh Government consultations, housing committees, and other stakeholder engagement events. We strengthened our governance through renewed Board membership, enhanced documentation, and executive support.

-18-

.

GOLEUDY HOUSING AND SUPPORT LIMITED

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Housing Support

Goleudy successfully placed a record number of individuals and families into permanent housing. Our dedicated housing team worked tirelessly to find suitable and stable housing solutions, significantly reducing the number of people experiencing homelessness in our service areas.

Housing Outcomes

From January 2022 to June 2025, Goleudy supported 1,418 clients in leaving our services, with 60.3% successfully achieving independence or more suitable accommodation.

Willow project

Residents of the Willow project enthusiastically embarked on spring gardening projects, nurturing various crops, including carrots, lettuce, swede, and parsnips. The thriving participation makes this initiative a resounding success.

Looking ahead, any surplus vegetables will be joyfully donated to Goleudy’s Connect project. Furthermore, residents eagerly EE ee anticipate the possibility of having a ° | potting shed, which would enable them to i : cultivate seedlings throughout the winter an - - eeaa ee months. The community's enthusiasm for ie e SSS gardening continues to grow. eo?? ee PwSaeedSaeed weaxax »,, 4]&& a77 Se Carmarthenshire eel i oer oer AN . . NI The dedicated team at Goleudy has been BMF pee St NS eagerly working on expanding its drop-in zm Ages RA RA eel services in the northern area of

==> picture [204 x 155] intentionally omitted <==

----- Start of picture text -----
EE ee
° |
i :
an - - eeaa ee
ie e SSS
eo?? ee PwSaeedSaeed weaxax »,, 4]&& a77 Se ;
eel i oer oer AN . . NI
BMF pee St NS
zm Ages RA RA eel
----- End of picture text -----

Carmarthenshire. They have made great use of community centres within their area to create a warm and inviting space for everyone. This fantastic initiative has created valuable opportunities to connect with the local community, build meaningful relationships, and provide essential housing support to those in need.

~19-

GOLEUDY HOUSING AND SUPPORT LIMITED

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

.

Swansea Tenancy Support

Swansea Tenancy Support has been actively working with external partners, such as Welsh Water, to strengthen the support offered to clients. Through these collaborations, the team has developed in-depth knowledge of the various available benefits, schemes, and forms of assistance. This enables them to provide informed, practical help to individuals facing financial hardship, ensuring they can access the support they need during difficult times.

The Swansea Floating Support Service has demonstrated excellent partnership working across multiple projects. An example is the work undertaken with the new Tontine Street supported accommodation development to help two clients facing severe housing crises. One client was at risk of homelessness after being evicted by her landlord—who was also her brother—while the other was facing the possibility of being placed in temporary B&B accommodation, which could have severely impacted her mental health. The dedicated Support Workers worked tirelessly to advocate for both clients, working closely with the Tontine Street management team and the local council to secure suitable placements. Their quick and compassionate response ensured both clients moved quickly and smoothly, providing stability and a safe space. The positive effects on the clients’ mental health are already apparent, showing the value of this collaborative effort. This success highlights the hard work, determination, and dedication of the Swansea Floating Support Service team in making sure vulnerable individuals receive the support and housing they need.

Access Point

Access Point now offers Blood-Borne Virus (BBV) testing. We have contacted the Health Board to organise staff training, acquire the necessary equipment, and implement NEO360 for test records. This progress strengthens our existing partnership with the BBV team, with whom we continue to work closely to ensure effective service delivery. Additionally, as part of our ongoing Needle Exchange programme, we can now provide Naloxone to clients. This is a vital addition to our harm reduction efforts and supports individuals at risk due to substance use.

-20-

GOLEUDY HOUSING AND SUPPORT LIMITED

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Pembrokeshire

The Pembrokeshire team was recently awarded a new contract with Pembrokeshire County Council to support and oversee their new CAS3 service in Haverfordwest. This was achieved due to the high level of trust the council has in the team when working with the offender demographic.

The Pembrokeshire team has also begun conducting drop-in sessions at the magistrates’ court upon request from the defence solicitor stationed there.

The Pembrokeshire team mainly collaborates.with the MOSAVO (Management of Sexual Offenders and Violent Offenders) team within the Police force to support their RSO clients. We have established a trusting relationship with this police department and have proven our effectiveness in housing and providing broad support to these complex clients.

Swansea Community Fridge

During the year, Swansea Community Fridge continued to build on its success in reducing food waste and tackling food insecurity by providing fresh food on a donation basis. The service played a vital role in providing food for the people of Swansea, distributing approximately 13,000 kilos of food during the year despite having to close for several weeks due to the building works. This figure reflects the rising demand for our service and the strength of our partnerships with local supermarkets, businesses, and community growers who donate surplus produce. Our Community Fridge not only diverts high-quality food from landfill but also ensures that individuals and families across the city can access fresh fruit, vegetables, dairy, and bakery items at a time when the cost of living continues to put pressure on household budgets. The service is open to everyone, removing stigma and encouraging community ownership. ,

-21-

GOLEUDY HOUSING AND SUPPORT LIMITED

.

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Community Fridge Pop-Up Events

Alongside its regular Wednesday service, the Swansea Community Fridge continued expanding its reach throughout the year through a series of off-site pop-up events at community venues around the city. These events are always very well attended, bringing fresh food directly into neighbourhoods, raising awareness about reducing food waste, and encouraging more people to participate.

We have an excellent relationship with Swansea University and hold regular events there, including during Go Green Week. During this week, we engage students and staff in conversations about sustainability while sharing surplus food.

Community Fridge — Tackling Child Poverty

We are proud to maintain our close relationship with a local primary school by providing fresh fruit every week, ensuring children can access nutritious snacks. This initiative has becomea valued part of our community outreach, promoting health and well-being among young pupils.

This year, our efforts were strengthened through several successful holiday funding grants, enabling us to expand our support. In total, we worked with three schools, each receiving around 60 bags of food, helping to ease the pressure on families during a costly time of year.

These contributions provided much-needed assistance and reinforced our ongoing commitment to supporting children and families across the community throughout the year.

Dedicated Team of Volunteers

The Community Fridge project thrives thanks to the commitment and enthusiasm of our volunteers, who are central to making the service possible. They support various tasks, from collecting and transporting food to stock rotation, serving at the Community Fridge, and tending our courtyard garden. This year, we have also offered volunteering opportunities to some of our Connect clients, enabling them to gain practical skills, build confidence, and play an active part in their community.

-22-

GOLEUDY HOUSING AND SUPPORT LIMITED

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Financial review

The group has recorded a surplus of £529,053 for the year ended 31 March 2025. compared to a deficit of £166,413 in the prior year.

Unrestricted reserves increased by £65,299 (2024: decrease of £127,904), while restricted reserves increased by £463,754 (2024: decrease of £38,509).

Significant events during the year

During the year, Goleudy secured significant capital and revenue grant funding to develop our office premises and create the Goleudy Community Hub. These grants significantly strengthened the organisation's balance sheet compared to 2023-24.

The Charity also secured new contracts, driving income growth, and, where possible, strived to manage costs to achieve best value for money. This, together with some exceptional transactions having taken place in 2023-24, led to a marked improvement in the organisation’s underlying operating financial performance. ,

Overall income increased by 41% during the year, though this was positively impacted by the capital grants earmarked for the development project. Removing the effect of these grants, underlying income increased by 22%. Total Expenditure increased by 12.7% over the same period.

Principal Funding Sources

The charity's principal funding sources include contract income from Housing Support Grant funding and rental income from our owned properties. These two funding sources contribute 79% (2023-24: 90%) of the organisation's charitable income. Notes 3, 4, and 5 provide a full breakdown of the charity's income.

-23-

GOLEUDY HOUSING AND SUPPORT LIMITED

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

==> picture [275 x 179] intentionally omitted <==

----- Start of picture text -----
~~ Donations and — .
Capital grants 4
Housing q } Local
Income N y Authority
XN y
----- End of picture text -----

Funds or Subsidiaries in deficit

The group's position as of 31 March 2025 includes no funds that are materially in deficit. The position of Caer Las Trading Limited is discussed in Note 6 of this report; the entity ceased trading in 2019.

Going Concern

The charity has sufficient free reserves and regularly monitors its results. The trustees consider the charity a going concern, and there are no material uncertainties about its ability to continue.

Investments Policy

The organisation's appetite for risk is documented in the policy and is considered for each investment. The current principal risks around the portfolio relate to the loss of capital value and fund volatility. Goleudy aims to mitigate this risk by taking a long-term investment view and holding a balanced and diversified portfolio.

;

.

-24-

7

GOLEUDY HOUSING AND SUPPORT LIMITED

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

At year-end, the value of the portfolio held with Brewin Dolphin was £756,720 (2023-24: £743,219). Details of the portfolio's financial performance are included in Note 15.

Reserves Policy

.

Goleudy's trustees recognise their obligation to apply the charity's income, within a reasonable time of receipt, for the benefit of our clients. However, the trustees believe that it is necessary for Goleudy to hold defined levels of reserves for the long-term benefit of the charity and, therefore, its beneficiaries.

The trustees are of the opinion that it is unlikely that any external body, or source, can be relied upon to contribute directly to the establishment or development of reserves. This means that reserves have to be created and maintained from surpluses arising from the group’s normal activities.

The trustees have determined the principles for holding reserves as being:

The trustees recognise the need for reserves to be balanced against the following factors:

-25-

GOLEUDY HOUSING AND SUPPORT LIMITED

TRUSTEES’ REPORT (CONTINUED)FOR THE YEAR ENDED 31 MARCH 2025

Definition of Goleudy's reserves

Unrestricted Reserves

Unrestricted Reserves represent funds which are not restricted in their use and can be used in order to further the charity's objectives, as the trustees see fit.

Goleudy has two types of unrestricted reserves: General Funds and Designated Funds.

The Genera! Fund represents unrestricted funds which have not been designated against a particular purpose and may be used generally to further the charity's objects. In general, these are the funds left over following all designations and restrictions and are, in that sense, free reserves. Designated Reserves represent unrestricted reserves which have been allocated for specific purposes but are not legally bound for that purpose. Goleudy has two designated reserves: The Designated Property Asset Fund and the Designated Purposes Fund.

The Designated Property Asset Fund is defined as the value of unrestricted funds represented by the fixed assets owned and used by the charity on an ongoing basis to carry out its charitable objects. This fund can only be realised by disposing of tangible fixed assets.

The Designated Purposes Fund includes provisions for service development costs, investments and contingencies for operational and management costs. It is foreseen that the Designated Purposes Fund will be freed up in the event of a material change in the circumstances of the charity, e.g. in the event of winding up.

31 March 2025 31 March 2024
Unrestricted General Fund 600,927 285,021
Designated PropertyAsset Fund 1,108,760 679,791
Designated Purposes Fund 456,821 1,136,397
TotalUnrestrictedReserves 2,166,508 2,101,209

-26-

GOLEUDY HOUSING AND SUPPORT LIMITED

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Restricted Reserves

Restricted Reserves represent funds received for purposes specified by the funder.

Goleudy has two types of restricted reserves: Restricted General Funds and Restricted Capital Funds.

The Restricted General Fund represents funds which have been generated from restricted income. The Restricted Capital Fund represents capital grants and funds previously received in respect of the rehabilitation of owned properties and were used solely for this purpose. These reserves are materially in line with the group's reserves policy, which is reviewed annually.

"

==> picture [448 x 51] intentionally omitted <==

----- Start of picture text -----
31 March 2025 31 March 2024
Restricted General Fund 108,014 179,454
Restricted Capital Fund 1,053,550 518,356
Total Restricted Fund 1,161,564 697,810
----- End of picture text -----

|

Risk Management

During the year, the Board and executive team reviewed the organisation's key risks.

Goleudy recognises that risks are inherent in every activity but aims to manage the key risk areas, reducing their impact wherever possible and practicable.

Risk management involves a planned and systematic approach to the identification, assessment and mitigation of the risks which could hinder the achievement of strategic objectives. It forms part of Goleudy’s system of internal controls, enabling the Board of Trustees to ensure that:

,

)

-27-

GOLEUDY HOUSING AND SUPPORT LIMITED

- TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

The key principles of Goleudy's approach to risk are as follows:

.

.

GOLEUDY HOUSING AND SUPPORT LIMITED

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Though the organisation’s risk profile is fluid and continually evolving, affected by internal and external factors, Goleudy has identified thirteen key risk categories, the management of which will shape the organisation’s strategy over the life of this plan.

Each of these strategic risks has sub-risks within them that are managed individually. Broadly, the mitigating actions identified include focusing closely on our strategic priorities and the steps required to deliver on them, reviewing induction, training, and policy work throughout the organisation, assessing each risk scenario carefully, making improvements wherever possible, assessing what's already working well, and aiming to ~ build on these activities.

,

GOLEUDY HOUSING AND SUPPORT LIMITED

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Our structure, governance and management

Constitution & Nature of Governing Document

Goleudy Housing and Support Limited is a registered Charity and Company Limited by Guarantee. Its Articles and Memorandum of Association were revised and registered with Companies House and the Charity Commission in 2022-2023. Board members are charity trustees and company directors, hereafter referred to as 'the trustees’.

Recruitment of Trustees

The charity currently has seven trustees. New trustees are recruited via sector networks, the organisation’s website, and social media. A Trustee Policy (revised in 2023) outlines board recruitment processes and other expectations for trustees.

Appointment of Officers

The Trustee Board has three officer posts:

;

These posts are elected from the Board Membership at the first meeting after the AGM upon the expiry of the term. Officers’ terms are two years in duration.

Governance and Management Structures

During the year ended 31 March 2025, the trustees held eight business meetings and one half-day strategy meeting as a full board. On each occasion, there was a quorate attendance. The Company Secretary ensured there was an appropriate agenda and management papers. A set of minutes was produced for each business meeting. The Annual General Meeting was held on 10th December 2024.

Goleudy also has three subcommittees with their own terms of reference: the Governance Development Committee (GDC), the Finance, Audit, and Risk Committee (FARC), and the Remuneration Committee. The Vice-Chair chairs the GDC, the Treasurer chairs the FARC, and the Chairperson chairs the Remuneration Committee.

-~30-

;

GOLEUDY HOUSING AND SUPPORT LIMITED

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

The Executive Leadership Team

During the year ended 31 March 2025, the Executive Leadership Team (ELT) comprised:

The ELT produced detailed reports for the board of trustees that were scrutinised at the trustees’ scheduled business meetings. Reports typically included performance reports, quarterly management accounts, business plan progress reports, analysis of performance measures, budget information, and risk and compliance reports.

The Board’s Central Focus

Goleudy’s governance processes focus on four key areas:

Training and Development

As part of the Board’s formal meetings, the charity's legal advisors, auditors, and associate trainers trained and guided trustees on their legal duties (including employment law), financial responsibilities, GDPR and Health and Safety obligations. Trustees are also encouraged to attend relevant training and conferences, which the charity pays for.

Decision Making

Decisions that the trustees delegate to the executive are detailed in the charity's schedule of delegated authorities. In general, decisions made by the Board include:

,

-~31-

GOLEUDY HOUSING AND SUPPORT LIMITED

:

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

.

Policies, Procedures and Induction

Goleudy Trustee activities are regulated by our ‘Trustee Policy’. The policy was revised in 2023 and covers the following:

Policies for Setting Pay and Remuneration of the Executive Leadership Team )

When a review of executive roles, pay, and reward is required, the board appoints consultants to conduct a job evaluation and benchmarking exercise (JE&BM) on its behalf. Most recently, this was conducted by Turning Point in January 2024. The financial impact is thoroughly examined before any changes in pay and reward. The remuneration subcommittee thoroughly scrutinises all data before submitting

proposals to the main board. The trustees make their decisions ‘in camera’, where the executive team is absent.

After the process, changes are communicated to the executive accordingly.

|

Related Parties

Goleudy Housing and Support Limited had a 100% owned trading subsidiary, Caer Las Trading Limited, which ceased trading in December 2019. Jim Bird-Waddington, Goleudy's CEO, was the sole director of Caer Las Trading Limited. Note 6 details the transactions between Goleudy Housing and Support Limited and its Related Parties.

-32-

GOLEUDY HOUSING AND SUPPORT LIMITED

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Plans for future periods

In addition to its ongoing focus on continuous improvement, growth, and strategic development, Goleudy has several upcoming priorities.

Tontine Street

After the year-end, the organisation has delivered 21 high-quality new units of accommodation on Tontine Street, Swansea. The project greatly improves the current accommodation stock and offers residents aspirational, secure, and transformational living space. We are delighted with the scheme and will now focus on its ongoing successful delivery.

Hub activities

Now that the Hub development is complete, Goleudy will focus on fulfilling its ambitions to maximise client opportunities within the Hub. We have secured continuation funding from SPF for the financial year ending 31 March 2026, and we have detailed plans to expand what the Hub can offer to those who access its services. Looking ahead, the emphasis is on developing sustainable funding models to optimise this fantastic space.

50-year celebrations

2025 is Goleudy's 50" anniversary. We intend to mark this significant milestone with several events, projects and initiatives. These events, whilst providing an opportunity to celebrate, will also contribute to raising Goleudy’s profile in the area, showcasing our fantastic organisation, and highlighting our excellent work.

New Business Plan

The fatter part of 2025-26 will see the Board, Executive Team, other staff, stakeholders, and clients formulate a business plan that reflects Goleudy’s ambition for 2030 and beyond.

This will be a highly collaborative process and provide a roadmap for the organisation to deliver on its key mission in the coming period.

.

.

GOLEUDY HOUSING AND SUPPORT LIMITED

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Current Business Plan

The current business plan was adopted in April 2023 and is available on Goleudy’s website, goleudy.org.

The plan describes the charity's purpose, values, and ethos. It also outlines our governance arrangements. The substantive content describes our three primary objectives for the next ' three years.

Primary Objective - 1: Being Informed by People

‘Informed by People’ is Goleudy's method of creating a ‘Psychologically Informed Environment’ (PIE). This initiative has been designed based on the input from two research studies carried out by Liverpool University Management School: ‘An Evaluation of Tenancy Support and Mental Health Service Experience’ (2019) and ‘Promoting Innovation in Homelessness and Mental Health Service Design: Summary Report (Goleudy)’ (2022). We have also been guided by a piece of consultancy carried out by ‘Working Conversations’ — ‘The Making of a PIE (People Informed Environment)’ (2019).

Primary Objective - 2: Creating spaces of opportunity

‘Spaces of opportunity’ is the term used in the business plan to describe the importance of physical buildings (houses, project spaces and workspaces) as part of a Psychologically Informed Environment (PIE). This initiative is integral to the success of our ‘Informed by People’ approach. .

Primary Objective - 3: Strengthening our community

‘Strengthening our community’ describes Goleudy’s work on ‘community development’. This initiative has been designed based on findings from The Bevan Foundation, The Food Foundation, and our own data collected over the past three years.

The business plan 2023-2026 also describes our ‘people strategy’ and our ‘corporate services' structures, as well as our developmental aspirations.

~34-

GOLEUDY HOUSING AND SUPPORT LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31 MARCH 2025

Administrative details

Charity Number 504094

Company Number 1195549

Registered Office The Customs House Cambrian Place Swansea, SA1 1RG

Directors and Trustees

The directors of the charitable company (the charity) are its trustees for the purpose of charity law. The trustees and officers serving during the period and since 31 March 2025 were as follows:

Chair Neil O'Brien

Vice Chair

Rachel Rawlings

Treasurer Richard Leary

‘

Elected Trustees

Conrad Funnell Gary Hall Sarah Smith Oliver Godden

Company Secretary Jim Bird-Waddington

Key Management Personnel

Jim Bird-Waddington - Chief Executive Officer loan Davies — Deputy Chief Executive Officer Amanda Parry - Executive Director Robert Jones - Head of Housing Support

Auditors

Xeinadin Audit Limited Suite 2D, Building 1, Eastern Business Park St Mellons, Cardiff, CF3 5EA

~35-

GOLEUDY HOUSING AND SUPPORT LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Bankers Co-Operative Bank Plc. HSBC 34 Kingsway 56 Swansea, SA1 5LE Cardiff,

HSBC _ Bank of Scotland 56 Queen Street PO Box 23581 Cardiff, CF10 2PX Edinburgh, EH1 1WH

- Legal Advisors

Hugh James Two Central Square Cardiff CF101FS

Investment Managers

Brewin Dolphin Two Central Square Cardiff CF101FS

YO

GOLEUDY HOUSING AND SUPPORT LIMITED

STATEMENT OF RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025

Statement of Trustees’ Responsibilities

The trustees, who are also directors of Goleudy Housing and Support Limited for the purposes of company law, are responsible for preparing the Trustees’ Report (incorporating the strategic report and directors’ report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the group, and of the income and expenditure of the charitable group for that period.

In preparing these financial statements, the trustees are required to:

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

-37-

GOLEUDY HOUSING AND SUPPORT LIMITED

STATEMENT OF RESPONSIBILITIES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

insofar as the trustees are aware:

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. ,

Approved by the Board of Trustees on 23 September 2025 and signed on behalf of the Board: ,

Neil O'Brien

Richard Leary

Chair

Treasurer

)

GOLEUDY HOUSING AND SUPPORT LIMITED

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF GOLEUDY HOUSING AND SUPPORT LIMITED

Opinion

. ;

We have audited the financial statements of Goleudy Housing And Support Limited (the ‘parent charitable company’) for the year ended 31 March 2025 which comprise the consolidated statement of financial activities, the group and parent charity balance sheet, the consolidated statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including ' Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

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

Conclusions relating to going concern

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

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

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

-39-

GOLEUDY HOUSING AND SUPPORT LIMITED

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF GOLEUDY HOUSING AND SUPPORT LIMITED (CONTINUED)

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and ~ Reports) Regulations 2008 requires us to report to you if, in our opinion: . - the information given in the financial statements is inconsistent in any material respect with the report; or - sufficient accounting records have not been kept; or - the financial statements are not in agreement with the accounting records; or - we have not received all the information and explanations we require for our audit.

Responsibilities of the Trustees

As explained more fully in the statement of responsibilities, they are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, they are responsible for assessing their ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the either intend to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.

-40-

GOLEUDY HOUSING AND SUPPORT LIMITED

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF GOLEUDY HOUSING AND SUPPORT LIMITED (CONTINUED)

Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In identifying and assessing risks of materia] misstatement in respect of irregularities including fraud and non-compliance with laws and regulations we have considered the following:

(a) The nature of the industry and sector, control environment and business performance;

(b) Results of the enquiries of management about their own identification and assessment of the risks of irregularities;

(c) Any matters we have identified having obtained and reviewed the charity's documentation of their policies and procedures relating to:

(i) identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;

(ii) detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; the intemal controls established to mitigate risks of fraud or noncompliance with laws and regulations; the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud. As a result of these procedures: we considered the opportunities and incentives that may exist within the organisation for fraud.

In common with all audits under ISAS (UK), we are also required to perform specific procedures to respond to the risk of management override:

We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included UK Companies Act, . employment law, health and safety, pensions legislation and tax legislation.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty. Our procedures to respond to risks identified included the following:

(a) Reviewing the group financial statement disclosures to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements; (b) Enquiring of management concerning actual and potential litigation and claims;

-4]-

GOLEUDY HOUSING AND SUPPORT LIMITED

.

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF GOLEUDY HOUSING AND SUPPORT LIMITED (CONTINUED)

(c) Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; and (d) In addressing the risk of fraud through management override of controls, testing the appropriateness ofjournal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

No instances of material non-compliance were identified. however, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAS (UK). A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.[frc.org.uk/auditorsresponsibilities.] This[description] forms part of our auditor's report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Senior Statutory Auditor

Tania Cregg FCCA (Senior Statutory Auditor)

For and on behalf of Xeinadin Audit Limited Chartered accountants & Statutory auditors Suit 2D, Building 1 Eastern Business Park, ‘ St Mellons, Cardiff CF3 5EA

.

Date: Sl ler

GOLEUDY HOUSING AND SUPPORT LIMITED

.

STATEMENT OF FINANCIAL ACTIVITIES — CONSOLIDATED INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2025 2025 2025 2024 2024 2024
Notes £ £ £ £ £ £
Income and endowments from:
Donations and legacies 3 2,034 500 2,534 13,614 1,042 14,656
Charitable activities 4 3,133,338 833,477 3,966,815 2,433,079 307,421 2,740,500
Investments 5 23,739 - 23,739 24,460 - 24,460
Other income 5 - - - 62,136 - 62,136
3,159,111 833,977 3,993,088 2,533,289 308,463 2,841,752
Total income =——_— —————_ ———— =—————
Expenditure on:
Charitable activities 7 3,117,258 346,370 3,463,628 2,729,032 331,993 3,061,025
Otherexpenditure 10 1,682 - 1,682 - - -
3,118,940 346,370 3,465,310 2,729,032 331,993 3,061,025
Total expenditure _ —_— —— =— —_=__— ——_—
Net gains/(losses) on
investments 11 1,275 - 1,275 52,860 - 52,860
Net income/(expenditure) 41,446 487,607 529,053 (142,883) (23,530) (166,413)
Transfers between
funds 23,853 (23,853) - 14,979 (14,979) -
Net movement in ,
funds 8 65,299 463,754 529,053 (127,904) (38,509) (166,413)
Reconciliation offunds:
Fund balances at 1 April 2024 2,101,209 697,810 2,799,019 2,229,113 736,319 2,965,432
Fund balances at 31 March,
2025 2,166,508 1,161,564 3,328,072 2,101,209 697,810 2,799,019

.

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 47 — 66 form part of these financial statements.

Registered company number: 1195549. Registered charity number: 504094.

-43-

GOLEUDY HOUSING AND SUPPORT LIMITED

‘

GROUP BALANCE SHEET

FOR THE YEAR ENDED 31 MARCH 2025

2025 2024
Fixed assets Notes £ £ £ £
Tangible assets 13 2,277,620 1,291,010
Investments
.		 14 756,720 743,219
3,034,340 2,034,229
Current assets
Debtors 16 294,732 319,851
Cash at bank and in hand 420,232 1,057,557
714,964 1,377,408
Creditors: amounts falling due within 17 (421,232) (612,618)
one year TT
Net current assets 293,732 764,790
Total assets less current liabilities 3,328,072 2,799,019
The funds ofthe Group
Restricted income funds 20 1,161,564 697,810
Unrestricted funds . 21 2,166,508 2,101,209
TotalGroupfunds 3,328,072 2,799,019

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies’ regime.

==> picture [470 x 68] intentionally omitted <==

----- Start of picture text -----
The financial statements were approved by the Board of Trustees and authorised for issue on 23 September 2025,
and were signed on, its behalf by:
Trustee......7.WV, L&D,VA VieUy, A
ON
----- End of picture text -----

Neil O'Brien

Richard Leary

Registered company number: 1195549. Registered charity number: 504094

.

-44-

GOLEUDY HOUSING AND SUPPORT LIMITED CHARITY BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2025

:

2025 2024
Fixed assets Notes £ £ £ £
Tangible assets 13 2,277,620 1,291,010
Investments 14 756,721 743,220
3,034,341 2,034,230
Current assets
Debtors 16 294,767 319,886
Cash at bank and in hand 419,934 1,057,258
714,701 1,377,144
Creditors: amounts falling due within 17 (421,232) (612,618)
one year TT TT
Net current assets ~ 293,469 764,526
Total assets less current liabilities 3,328,810 2,798,756
The funds ofthe Charity :
Restricted income funds 20 1,161,424 697,670
Unrestricted funds 21 2,166,386 2,101,086
TotalCharityfunds 3,327,810 2,798,756

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies’ regime.

==> picture [468 x 125] intentionally omitted <==

----- Start of picture text -----
The financial statements were approved by the Board of Trustees and authorised for issue on 23 September 2025 and
were signed on its behalf by: va
Trustee... 404 Trustee....f.. fase Teeceeheen
Neil O'Brien Richard Leary A
----- End of picture text -----

-45-

GOLEUDY HOUSING AND SUPPORT LIMITED

STATEMENT OF CASH FLOWS - CONSOLIDATED FOR THE YEAR ENDED 31 MARCH 2025

==> picture [467 x 330] intentionally omitted <==

----- Start of picture text -----
|||||||||| |---|---|---|---|---|---|---|---|---| |2025|2024| |Cash|flows from|operating|activities|Notes|£|£|£|£| |Cash generated|from/(absorbed|by)|26|430,085|(51 9,154)| |operations| |Investing|activities| |Interest from|investments|23,739|24,460| |Interest|from|investments|added|to|(16,834)| |investment|portfolio|(19,686)| |Purchase|of|investments|-|-| |Purchase|of property,|plant and|equipment|(1,071,463)|(381,667)| |Proceeds|from|sale|of assets|-|97,270| |Net cash|used|in|investing|activities|(1,067,410)|(276,771)| |Net cash|generated|from|financing|activities|-|-| |Net decrease|in|cash|and|cash|equivalents|(637,325)|(795,925)| |Cash|and|cash|equivalents|at|beginning|of year|1,057,557|1,853,482| |Cash|and|cash|equivatents|at end|of year|420,232|1,057,557|

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

,

‘

;

GOLEUDY HOUSING AND SUPPORT LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Charity information

Goleudy Housing and Support Limited is a private Charitable company limited by guarantee incorporated in England and Wales. The Charity changed its name from Cymdeithas Caer Las in June 2020. The registered office is The Customs House, Cambrian Place, Swansea, SA1 1RG.

1.1 Accounting convention The financial statements have been prepared in accordance with the Charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of lreland (FRS 102)". The Charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice, which is referred to in the Regulations, but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus, the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the charitable objectives of the Charity.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity.

1.4 Income Income recorded in the Statement of Financial Activities represents the value of grants received and rental and voluntary income.

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

-47-

.

GOLEUDY HOUSING AND SUPPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

(Continued)

Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings 2%
Leasehold property 2%
Plant and equipment 20%
Fixtures and fittings 20-25%
Computers 20-25%
Motorvehicles 20-25%

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8 Impairment of fixed assets

At each reporting end date, the Charity reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

GOLEUDY HOUSING AND SUPPORT LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments

The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Charity's balance sheet when it becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, in which case the transaction is measured at the present value of future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.

1.11 Employee benefits

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

Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

-49-

GOLEUDY HOUSING AND SUPPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

2 Critical accounting estimates and judgements

In the application of the Charity’s accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

,

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies — Group and Charity

.

Unrestricted Restricted Total Unrestricted Unrestricted Restricted Total
)
funds funds funds funds
2025 2025 2025 2024 2024 2024
£ £ a £ £ £
Donations and gifts 2,034 500 2,534 13,614 1,042 14,656
Incomefrom charitable activities- Group and Charity
’ Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2025 2025 2025 2024 2024 2024
£ £ £ £ £ £
Charitable activities
Housing Support Grant _ 2,149,053 129,973 2,279,026 1,603,708 165,545 1,769,253
City & Council of
Swansea (Social
Services) 94,800 - 94,800 94,800 - 94,800
Capital Grant - 559,047 559,047 - 27,706 27,706
Swansea Bay University
Health Board 10,947 34,067 45,014 10,526 32,757 43,283
Other Grants 4,723 28,932 33,655 2,030 37,167 39,197
Rents Receivable 865,825 8,385 874,210 722,015 8,385 730,400
Shared Prosperity Fund - 73,073 73,073 - 35,861 35,861
Insurance income 7,990 - 7,990 - - -
3,133,338 833,477 3,966,815 2,433,079 307,421 2,740,500

4 Income from charitable activities - Group and Charity

-50-

GOLEUDY HOUSING AND SUPPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

5 Income from investments — Group and Charity

==> picture [440 x 77] intentionally omitted <==

----- Start of picture text -----
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Interest receivable : 23,739 24,460
----- End of picture text -----

Other income-— Group and Charity

==> picture [443 x 77] intentionally omitted <==

----- Start of picture text -----
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Net gain on disposal of tangible fixed assets - 62,136
----- End of picture text -----

-51-

GOLEUDY HOUSING AND SUPPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

6 Income from other trading activities

The wholly owned trading subsidiary, Caer Las Trading Limited, is incorporated in the United Kingdom (company number 09432679) and pays all its profits to the charity under the "Gift aid" scheme. Caer Las Trading Limited is a furniture recycling scheme whose primary activity was the sale of donated furniture to the general public. In December 2019, the company ceased trading.

During the years to 31 March 2024 and 31 March 2025, Caer Las Trading Limited generated no sales. During the year ended 31 March 2025, Goleudy Housing and Support incurred costs related to fundraising of £13,165 (2023-24: £6,862).

The summary of the financial performance of Caer Las Trading Limited is:

2025 2024
£ £
Turnover - -
Cost of sales &Administrative expenses - (35)
Net (Loss)/Profit - (35)
The assets & liabilities ofthe subsidiarywere
CurrentAssets 299 299
Current Liabilities (35) (35)
,
Total net assets 264 264
AggregateShareCapital&Reserves 264 264

-52-

GOLEUDY HOUSING AND SUPPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

7 Expenditure on charitable activities — Group

Social
Housing Support Governance
& Support Costs Costs Total Total
2025 2025 2025 2025 2024
Direct costs £ £ £ £ £
Staffcosts 1,756,930 439,232 - 2,196,162 1,845,764
Depreciation and impairment 66,537 16,635 - 83,172 75,546
Furniture & Fittings 19,962 - - 19,962 9,652
Cleaning 106,043 - - 106,043 106,322
Utilities 140,580 15,620 - 156,200 166,376
Purchased Services - 8,581 - 8,581 7,110
Rent 203,659 - - 203,659 201,289
IT
& Communication		 140,347 - - 140,347 128,439
Maintenance & Decorating 114,295 - - 114,295 110,408
Printing, Postage, Stationery&
Advertising		 24883
‘		 6.224
,		 . 31.104
,		 35.231
‘
Insurance premiums - 44,097 - 44,097 42,884
Legal & Professional 6,856 - 19,795 26,651 38,697
Audit&Accountancy - - 33,875 33,875 63,075
HAManagement Costs 72,871 - - 72,871 73,898
Vehicle & Travel 26,495 2,944 - 29,439 29,935
Sundry Expenses 53,291 13,322 - 66,613 34,858
Training 24,779 6,195 - 30,974 19,206
Bad Debt 74,698 74,698 48,824
Food 4,785 4,785 6,082
InvestmentManagement
Costs		 7,460 7,460 7,298
Trustee Expenses 2,185 2,185 3,496
Trips & Activities 4,497 4,497 3,012
Keys 2,818 2,818 1,467
Bank Charges 2,920 2,920 1,405
Volunteer Expenses . 220 220 751
2,844,546 563,227 55,855 3,463,628 3,061,025
Analysis by fund
Unrestricted funds 2,557,706 503,697 55,855 3,117,258 2,729,032
Restricted funds 286,840 59,530 - 346,370 331,993
2,844,546 563,227 55,855 3,463,628 3,061,025

,

GOLEUDY HOUSING AND SUPPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Expenditure on charitable activities — Charity

Ex-Gratia Payments

‘

During the year, the group made payments of £1,022 to personnel on their leaving the organisation (2024: £44,526)

8 Net movement in funds 2025 2024
The net movement in funds is stated after charging/(crediting): £ £
: Fees payable forthe audit ofthe charity's financial statements 14,403 19,626
Depreciation ofowned tangible fixed assets 83,171 75,545
Operating leases 32,092 24,588
129,666 119,759

9 ~=Analysis of Staff Costs, Trustee Remuneration and Expenses and the cost of key management personnel

The charity trustees were not paid or received any other benefits from employment with the charity in the year (2024: Enil). Trustees received £2,185 (2024: £nil) of travel and subsistence expenses. No charity trustee received payment for professional or other services supplied to the charity (2024: £nil).

During the year, the group made no payments in relation to employee redundancy (2024: £nil)

Employees — Group and Charity

The average monthly number of employees during the year was:

.

The average monthly number of employeesemployees during the year was:was:
2025 2024
Number Number
Management 10 10
Administration & Support 68 40
Total 78 50
Employmentcosts 2025 2024
£ £
Wages and salaries 1,949,408 1,643,415
Social security costs 172,774 134,263
Other pension costs 73,980 68,086
2,196,162 1,845,764

|

GOLEUDY HOUSING AND SUPPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

During the year, total amounts paid into Pension schemes by Goleudy and its employees was £141,302 (2024: £126,195). At the year end, Goleudy owed £14,171 to the pension schemes (2024: £11,304).

Pension costs are allocated to activities and funds in proportion to the related staffing costs incurred. The number of employees whose annual remuneration was more than £60,000 is as follows:

2025 2024
Number Number
60,000 - 70,000 1 1
70,001 - 80,000 1 -
80,001 - 90,000 1 1

Remuneration of key management personne!

The key management personnel of the charity, comprises the trustees, the chief executive officer and other members of the executive leadership team.

The total employee benefits of the key management personnel of the charity were £330,010 (2024: £390,443).

10 Other expenditure

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Net loss on disposal oftangible fixed assets 1,682 -
11. Gains and losses on investments
Unrestricted Unrestricted
funds funds
2025 2024
Gains/(losses) arising on: £ £
Revaluationofinvestments 1,275 52,860

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

-55-

GOLEUDY HOUSING AND SUPPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

13 Tangible fixed assets — Group and Charity

Freehold
buildings		 Piantand
equipment		 .
Fixtures
and fittings		 Computers Computers Motor
vehicles		 Total
Cost £ £ £ £ £ £
At 1 April 2024 1,842,428 327,451 253,696 83,386 10,260 2,517,221
Additions 1,015,933 31,099 24,430 - - 1,071,463
Disposals (1,995) (183,334) (33,153) (18,000) - (236,482)
At 31 March 2025 2,856,367 175,217 244,973 65,386 10,260 3,352,203
Depreciation and impairment
At 1 April2024
,
Depreciation charged in the		 644,281 278,246 —-210,038 83,386 10,260 1,226,211
year
Eliminated in respect of		 50,687 16,477 16,007 - - 83,171
disposals (911) (183,764) (32,124) (18,000) - (234,799)
At 31 March 2025 694,057 110,959 193,921 65,386 10,260 1,074,583
Carrying amount
At 31 March 2025 2,162,310 64,258 51,052 - - 2,277,620
At 31 March 2024 1,198,147 49,205 43,658 - - 1,291,010
Fixed asset investments —Group
Listed
investments		 Cash in
portfolio		 Total
Costorvaluation £ e £
At 1 April 2024 734,946 8,273 743,219
Additions 75,895 (74,962) 933
Valuation changes 1,275 - 1,275
Dividends received - 18,547 18,547
Management fee's - (7,254) (7,254)
Disposals (61,936) 61,936 -
At 31 March 2025 750,180 6,540 756,720
Carrying amount
At 31 March 2025 750,180 6,540 756,720
At31March2024 . 734,946 8,273 743,219

14 Fixed asset investments — Group

GOLEUDY HOUSING AND SUPPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Fixed asset investments — Charity

Listed
investments		 Cash in
portfolio		 Total
Costorvaluation e £ f
At 1 April 2024 734,947 8,273 743,220
Additions 75,895 (74,962) 933
Valuation changes 1,275 - 1,275
Dividends received - 18,547 18,547
Management fee's
-		 - (7,254) (7,254)
Disposals (61,936) 61,936 -
At 31 March 2025 750,181 6,540 756,721
Carrying amount
At 31 March 2025 750,181 6,540 756,721
At31March2024 734,946 8,273 743,220

The charity's investment at the Balance Sheet date in the share capital of companies include the following:

;

Caer Las Trading Limited

Company number: 09432679 Incorporation date: 10 February 2015 Nature of business: Sales of donated goods. Registered office: Customs House, Cambrian Place, Swansea, SA1 1RG Class of shares: % Holding Ordinary 100

;

'-57-

GOLEUDY HOUSING AND SUPPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

15 Financial instruments - Group

2025 2024
£ £
Carrying amount offinancial assets
Debt instruments measured at amortised cost 568,079 1,208,708
Carrying amount offinancial liabilities
Measured at amortised cost (109,643) (102,845)
Financial instruments - Charity
2025 2024
£ £
Carrying amount offinancial assets
Debt instruments measured at fair value 1 1
Debt instruments measured at amortised cost 567.816 1.208.444
Carrying amount offinancial liabilities
Measured atamortised cost (109,643) (185,094)
16 Debtors -Group
2025 2024
Amounts falling duewithin one year: £ £
Trade debtors 28,090 26,685
Rent receivable 119,757 124,466
Prepayments and accrued income 146,885 168,700
; 294,732 319,851

-58-

GOLEUDY HOUSING AND SUPPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Debtors - Charity

2025 2024
Amounts falling due within one year: £ _£
Trade debtors 28,090 26,685
Rent receivable 119,757 124,466
Prepayments and accrued income 146,885 168,700
Intercompany account 35 35
294,767 319,886
17 Creditors: amounts falling duewithin one year—Group Group and Charity
2025 2024
Notes £ £
Other taxation and social security 40;711 36,677
Deferred income 18 25,056 41,661
Trade creditors 93,461 91,531
Other creditors 16,182 11,314
Accruals
,		 245,822 431,435
421,232 612,618
18 Deferred income—Group and Charity
Deferred income is included in the financial statements as follows:
; 2025 2024
£ £
Deferred income is included within:
Current liabilities 25,056 41,661
Movements in the year:
Deferred income at 1 April 2024 41,661 104,028
Released from previous periods (950,470) (1,384,950)
Resources deferred in the year 933,865 1,322,583
Deferredincomeat31March2025 . 25,056 41,661

. -59-

.

GOLEUDY HOUSING AND SUPPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Deferred income represents historical capital grants. The value of the grant is amortised over the life of the asset.

Contained in other creditors and accruals is deferred income totalling £25,056 (2024: £41,661). Deferred income relates to performance related grant funding received in advance and which relates to future financial periods.

==> picture [469 x 246] intentionally omitted <==

----- Start of picture text -----
||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |.|2025|2024| |£|£| |Deferred|income|at|1|April|2024|861,823|833,616| |Additions|559,047|27,707| |Deferred|income|at|31|March|2025|1,420,370|861,323| |Released|at|1|April|2024|547,252|532,273| |Released|against|capital|funds|23,583|14,979| |Released|at|31|March|2025|570,835|547,252| |Balance|at|31|March|2025|849,535|-|314,071| |19|Retirement|benefit|schemes|:| |2025|2024| |Defined|contribution|schemes|£|£| |Charge|to|profit|or|loss|in|respect|of defined|contribution|schemes|73,980|68,086|

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

The operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the in an independently administered fund.

20 ~=—Restricted funds - Group

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

==> picture [442 x 96] intentionally omitted <==

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |At|1|April|Incoming|Resources|Transfers|At 31| |2024|resources|expended|March|2025| |£|£|£|£|£| |Capital|funds|518,356|559,047|-|(23,853)|1,053,550| |Restricted|General|Funds|179,454|274,930|(346,370)|-|108,014| |697,810|833,977|(346,370)|(23,853)|1,161,564|

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

|

GOLEUDY HOUSING AND SUPPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Restricted funds - Charity

At 1 April Incoming Resources Transfers At 31
2024 resources expended March 2025
£ £ £ £ £
’ Capital funds , 518,356 559,047 - (23,853) 1,053,550
Restricted General Funds 179,314 274,930 (346,370) - 107,874
697,670 833,977 (346,370) (23,853) 1,161,424

Capital fund

Restricted Capital Funds represents capital grants and funds previously receive in respect of the rehabilitation of owned properties and were solely for this purpose.

Restricted general fund

The Restricted General Fund represents funds which have been generated from restricted income. The use of this fund is restricted to the purposes set out by the funder.

.

,

Restricted funds - Group

Previous year: At 1 April Incoming Resources Transfers At31
2023 resources expended March 2024
£ £ £ £ _&£
Capital Funds 505,629 27,706 - (14,979) 518,356
Restricted General Funds 230,690 280,757 (331,993) - 179,454
736,319 308,463 (331,993) (14,979) 697,810
Restricted funds - Charity
Previous year: At 1 April Incoming Resources Transfers At 31
2023 resources expended March 2024
£ £ £ £ £
Capital Funds 505,629 27,706 - (14,979) 518,356
Restricted General Funds 230,550 280,757 (331,993) - 179,314
736,179 308,463 (331,993) (14,979) 697,670

Restricted funds - Charity

-61-

.

‘

;

;

GOLEUDY HOUSING AND SUPPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

21 Unrestricted funds - Group

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 Incoming Incoming Resources Transfers Gains At 31
April resources expended and March 2025
2024 losses
£ — £ £ £ £ £
General Fund 285,021 3,159,111 (3,118,940) 274,460 1,275 600,927
Designated
PropertyAsset
Fund 679,791 - - 428,969 - 1,108,760
Designated
Purpose Fund 1,136,397 - - (679,576) - 456,821
2,101,209 3,159,111 (3,118,940) 23,853 1,275 2,166,508
Unrestricted funds— Charity
At 1 Incoming Resources Transfers Gains At 31
April resources expended and March 2025
2024 losses
£ £ £ £ £ £
General Fund 284,898 3,159,111 (3,118,939) 274,460 1,275 600,805
Designated
PropertyAsset
Fund 679,791 - - 428,969 - 1,108,760
Designated
Purpose Fund 1,136,397 - - (679,576) - 456,821
2,101,086 3,159,111 (3,118,939) 23,853 1,275 2,166,386

Unrestricted funds — Charity

General fund

The General Fund represents unrestricted funds which have not been designated against a particular purpose and may be used generally to further the charity’s objects.

Designated property asset fund

The value of unrestricted funds represented by the tangible fixed assets owned and used by the charity on an ongoing basis to carry out its charitable objects.

Designated purpose fund

This includes provisions for short-term business development costs, asset investment and contingencies for operational and management costs.

‘

GOLEUDY HOUSING AND SUPPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted funds - Group

At1
Previous year: April Incoming Resources Transfers Gains and At 31
2023 resources expended losses March 2024
£ £ £ £ £ £
General Fund 301,132 2,533,289 (2,729,032) 126,772 52,860 285,021
Designated 441,584 - - 238,207 - 679,791
PropertyAsset
Fund
;
Designated 1,486,397 - - (350,000) - 1,136,397
Purpose Fund ,
2,229,113 2,533,289 (2,729,032) 14,979 52,860 2,101,209
Unrestricted funds - Charity
At 1
Previous year: April Incoming Resources Transfers Gains and At 31
2023 resources expended losses March 2024
£ £ £ £ £ £
General Fund 300,974 2,533,289 (2,728,997) 126,772 52,860 284,898
Designated 441,584 - - 238,207 - 679,791
PropertyAsset :
Fund
Designated 1,486,397 - - (350,000) - 1,136,397
Purpose Fund
2,228,955 2,533,289 (2,728,997) 14,979 52,860 2,101,086

,

GOLEUDY HOUSING AND SUPPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

22 ~=Analysis of net assets between funds - Group

~=Analysis of net assets between funds - GroupGroup
Unrestricted Restricted Total
funds funds
2025 2025 2025
£ £ £
At 31 March 2025:
Tangible assets 1,224,070 1,053,550 2,277,620
Investments 756,721 - 756,721
Current assets/(liabilities) 185,718 108,014 293,732
2,166,508 1,161,564 3,328,073
Analysis of netassets between funds - Charity
Unrestricted Restricted Total
‘ funds funds
2025 2025 2025
£ £ £
At 31 March 2025:
Tangible assets 1,224,070 1,053,550 2,277,620
Investments 756,721 - 756,721
Current assets/(liabilities) 185,595 107,874 293,469
Analysis of net assets between funds - Group
Unrestricted Restricted Total
funds funds
2024 2024 2024
£ £ £
At 31 March 2024:
Tangible assets 772,654 518,356 1,291,010:
Investments 743,219 - 743,219
Current assets/(liabilities) 585,336 179,454 764,790
2,101,209 697,810 2,799,019

.

GOLEUDY HOUSING AND SUPPORT LIMITED

-NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Analysis of net assets between funds - Charity

Unrestricted Restricted _
Total
funds funds
2024 2024 2024
£ £ £
At 31 March 2024:
Tangible assets 772,654 518,356 1,291,010
Investments 743,220 - 743,220
Current assets/(liabilities) 585,212 179,314 764,526
2,101,086 697,670 2,798,756

23 Operating lease commitments

Lessee

The operating leases represent leases of land & buildings and other to third parties. The leases are negotiated over terms of multiple years. All leases include a provision for five-yearly upward rent reviews according to . prevailing market conditions. There are no options in place for either party to extend the lease terms.

At the year-end date, they had outstanding commitments for future minimum lease payments under noncancellable operating leases, which fall due as follows:

2025 2024
£ £
Within one year 27,173 25,935
Between two and five years 52,328 70,491
In over five years - 1,582
79,501 98,008

24 Capital commitments

As at 31 March 2025, there are capital commitments of £nil (2024: £1,067,540).

25 _— Related party transactions

During the years to 31 March 2024 and 31 March 2025 no transactions took place between Goleudy Housing and Support Limited and its wholly owned trading subsidiary, Caer Las Trading Limited.

At 31 March 2025, £35 (2024: £35) was owed by Caer Las Trading Limited, to Goleudy Housing and Support - Limited.

GOLEUDY HOUSING AND SUPPORT LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

,

26 Cash generated from/(absorbed by) operations 2025 2024
£ £
529,053 (166,413)
Surplus/(deficit) forthe year
Adjustments for:
Investment income recognised in statement of financial activities (23,739) (24,460)
Loss/(gain) on disposal oftangible fixed assets 1,682 (62,136)
Investment management costs 7,460 7,298
Fairvalue gains and tosses on investments (1,275) (52,861)
Depreciation and impairment oftangible fixed assets 83,172 75,546
Movements in working capital:
Decrease in debtors 25,118 50,354
,
(Decrease) in creditors (174,781) (284,115)
(Decrease) in deferred income (16,605) (62,367)
Cashgeneratedfrom/(absorbedby)operations 430,085 (519,154)

27 ~=CAnalysis of changes in net funds

The Charity had no material debt during the year.

)