REGISTERED COMPANY NUMBEIL. 01546688 ffjngland and Wales) REGISTERED CHARITY NUMBER: 5119163 ST DAVID'S CHILDREN SOCIETY COMPANY LIMITED BY GUAIL4NTEE COMPANY LIMITED BY GUARANfEE Trustees, Report and Audited Financial Statements for the Year Ended 31st March 2024 Johns Jones & Lo Limited Chartered A¢¢ountants & Registered Auditors 16 Lambourne Crescent Cardiff Business Park Llanish¢n Cardiff CF14 5GF
ST DAVID'S CHILDREN SOCIETY COMPANY LIMITED BY GUARANTEE COMPANY LIMITED BY GUARANfEE Contents of the Finallcial Ststements FOR THE YEAR ENDED 31ST MARCH 2024 PAge Trllstees, Report Report of the Independent Auditors St4tement of Flnancial ActilIeS BA]anee Sheet C*sh Flow Statement Not&$ to the Flnancial Statements 10 to 18 Detslled Statement of Finan¢lal Activities 19 to 20
ST DAVID'S CHILDREN SOCIETY COMPANY LIMITED BY CUARANTEE COMPANY LImED BY GUARANTEE Trustees. Report FOR TIIE YEAR EIYDED 31ST MARCH 2024 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the futhn¢ial statements of ihe charity for the year ended 31st March 2024. The tslee$ have adopted the provisions of Accounting and Rcporting by Charities: Statement of Recommend Pra¢ti¢e applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102} (effective l January 2019). ORJECTIVES AND ACTIvrrIES Objectives and activitie5 The Society w&8 established to promole the welfare of Childre families and individuals irrespective of creel but paiticularly those of the Roman Catholic faith. On the 14th October 2008, in order to comply with quality legislation, the Society fornially separdteAI from the Roman Catholic Dioceses of Wales and became an independent adoption agcncy. The TnLslees confimi that they have referred to ihc guidance contained in the Charity Commission's general guidancc ol) public benefit when reviewing th¢ objectives and aims and in planning future activities and sctting th¢ grant making Policy for the year. STRATEGIC REPORT Achievement and perform¥n¢e We have continued to consolidate our Core business and strengthen OUT Welsh identity and are now Tcgistered as a fostering agency. 2024 continued to be a difficult year for the sector a1$$ the UK with placements remaining low, cosl saving exeiseS hav¢ ken put in pl&¢. We report that we have made a deficit of £331297 this year. In 2023 we made a deficit of £407,765. Fknanclal rerfew Going concern Support seIceS for adopters have fully returned to being undertaken in person, for group activities and individual support. St David's Children Society operat&s under the brdnding names of St David's Adoption Service. St David's Fostering Servi¢e and AFKA Cymru. AFt(A Cymru have continucd to mcet the need and demands in respect of service deliv¢ry to professionals in the socia] care sector. Alongside this they delivered on contracts for the National Adoption Service and Welsh Govcrnment. It is anti¢ipated that this will be replicated for 202412025. Registration as a fostering servic¢ has enablcd diversification and the delivery of Welsh Early Pennanenc¢ ID alignment with the National Adoption Service. The Society strives to rnaintsin sufficient TescTVCS cquivalent to approximately six months of expenditure. Futhre pl4ns The Society continues to take steps to increase its resources for the next few years. Th¢ Society continues to use its charitable status to ¢xplorc Trust fimd applications for funding to develop its Fos*ring Servi¢e in line with Welsh Goven)ment's policy directive of eliminating profit from Care - A joint initiative to design and deliver a National A¢ce56 to Records Service - Delivery of Welsh EgTly PeTmanence - A pilot placement strategy launched to enable early identification of children with adoption &s their plan - AFKA Cymru awarded grants up to and including the financial year202412025 - Greater focw on thndraising Page I
ST DAVID'S CHILDREN SOCIETY COMPANY COMPANY LIIVllTED BY GUARANTEE Trnstees, Report FOR THE YEAR ENDED 31ST MARCH 2024 STRUCTURE, GOVERNANCE AY4D fvL4NAGEMENT Governing do¢ument The Society is governed by its MemoTandum and Articles of Association. The Society is a company limited by guarantee, and accordingly has no share capital. The siety is a register&l Charity, number 509163. Reeruitment and &ppolntmeDt of new trustees The Twstees are appointed by the Board of the TNstee Committee. The Trustees are reconThi¢nded by the Secretary to the Trustee Committee who review and approve where appropriate. Organisailonal structure The Society is by a Committee of Management. Overall rwjnsibility for the Society's day-to-day management is delegated to the CEO, Ms Wendy Keidan. Wendy rnsigned her position as CEO posr year end with Jason Baker now appointed. REFERENCE AIW ADLIIINISTRATIVE DETAILS Registered Comp8lly number 01546688 (England and Wales) Registered Charity number 509163 Registered office 28 Park Place Cardiff CFIO 3BA Trnstees PrOf80r K H Shelton Mr A Jones Vice Chair Mrs M McGowan Mr. A S Lusk Mr P Cbick Chair Mr T W Connor MR F Moloney Mr T Champken Dr K Holder Ms D A Evans Mr M D Clark Company Secretary Mr J Baker Auditors Johns Jones & Lo Limited Charted Accountants & Registered Auditors 16 Lambourne Crescent Cardiff Busin PaTk Llanishcn Cardiff CF14 5GF EVENTS SLYCE THE END OF THE YEAR Inforn]ation relating to events since the end of the year is given in the notes to the financial statements. Page 2
ST DAVID'S CHILDREN SOCIETY COMPANY LIMrrED BY GUARANTEE COMPANY LIMtTED BY GUARAiYfEE Trnstees, Report FOR THE YEAR ENDED 31ST MARCH 2024 TRUSTEES, RESPOF4SIBILITY STATEMENT The tsustees (who are a]so the dircctors of Si David's ChildTen knicty Company Limited by Guarantet for the PUTPOSCS of cornpany law) are responsible for prepaiing the Tntees, Report and the financial statements in accordance with applicable law and Uniled KiTkgdom Accounting Standards (United Kingdom Generdlly Acccptcd Accounting Prdctice). Company law rUireS the ttustees to prepare financial statemenls for each financial ycar which give a true and fair view of the state of affairs of the charitable company and of the incorning rcsources and application of resources, including the income and expenditure, of the chaTitabl¢ company for that period. In preparing those financial stal¢m¢nty the Iruslees ar¢ required to select suitable accounting policies and then apply them Consistently. observe the methods and principles in the Charity SORP. make judgements and estimates that are reasonable and prudent. state whdher applicable CountIng standards have been follow, subject to any material departures disclosed and explained in the financial statements, prq)are the financial statements on the going concern basis unle&s it is inappropriate to presume that the charitsble Company will continue in business. The trnsiees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time th¢ financial position of the charitable company and to enable ihem to ensure thai the financial statements comply with the Companies Act 2006. Thcy are also responsible for safeguarding the assets of the eharitable company and hence for tsking rea8onable stq)s for the prevention and detection of fraud and other irregularities. tn so far as the tnteeS are awarc.. there is no relevant audit infonnation of which ihe charitable company's auditors are unaware. and thc trustees have taken all steps that they ought to havc taken lo make Ihemselve5 aware of any relevant audit nforniatlon and lo establish that the auditors are aware of that inforniation. AiiDrtORS The auth'tors, Johns Jones & Lo Limiied, will be proposed for re-appointment at the forthwming Annual General Meeting. ' report, incorporating a strategic report, apwoved by order of the board of trustees, &$ the company directors, . and signed on the b)ard's behalf by: P Chick- Trustee Page 3
Report of the Independent Auditors to the Trustees of St David's Children Society Company Lfimited by Guarantee OpiDiOD We have audited thc financial statements of St David's Children Society Company Limited by Guarantee (the 'chaJitable ompang) for the year ended 3 1st March 2024 which comprise the Statement of Financial Activiti, the Balan¢e Sheet, the Cash Flow Statement and notes to the financial statements, including a surnrnary of $Ilficant accounting poli¢i¢s. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the state of the charitsble company's affairs as at 31st MaTch 2024 and of its incoming resourc¢s and application of resources, including its incorne and expenditure, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted A¢counling Practice" and have been Prepared in a¢cordance with the requirements of the Companies Act 2006. Basls for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our respoTJsibilities under those standards are fijrther described in the Auditors, responsibilities for the audit of the rman¢ial statements section of our report. We are independent of ihe Charitable cornpany in accordance with the ethical requirements that are relevant lo our audit of the fAnan¢ial statements in the UK including the FRC'S Ethical StandariL and we have fulfilled our other ethical responsibilities in ac¢ordan¢e 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 wncern tn auditing the financial slalements, we have con¢luded that the trnstees, use of the going concern basis of accounting in the preparation of the finan¢ia] statements is approwiate. Based on the WOTk we have perfornied, we have not identifi1 any material uncertainties relating to events or conditions thal, individually or collectively, rnay east significant doubt on the ¢haritsble company's ability to continue as a going concern for a period of at least twelve months from when the financial siatements are authorised for issue. Our rwonsibiltties and the re5ponsibililies of the trnstees with to going eoncern are described in the relevant sections of this report. Other information The tnjstees are 1pOnSible for the other inforniation. The other inforn]ation comprises the ?nfornation included in the Annual Report, other than the financial statements and our Report of the ]ndependent Auditors thereon. Our opinion on the financial statements does not cover the other inforniation an(L except to the extent otherwise expli¢itly slated in our report, we do not express any fonn of assurdnce Conclusion thereon. In connection with our audit of the financial stalement4 OUT responsibility is to read the other inforniation and, in doiTJg so, consider whether the other information is mataially Inconsient with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistenci&8 or apparent material misstatements, we are required to detennine whether this give5 rise to a material rntsstalement in the financial statements themselves. tf, bas on the work we have pcrformel we conclude that there is a material misstatement of this other infonnation, we arc required to rq)ort that facl. We have nothing to rq)ort in this reg8r(L Matters on which we Are required to report by exception We have nothing to report in respect of the following mattets where the ChaTities (Accounts and Rew)rts) Regulations 28 requires us to report to you if, in our opinion: the inforniation given in the trn5tees Report is in¢onsistent in any material respect with the financial statements or th¢ charitable company has not kept adequate accounting records. or the financial statements are not in agreement with the accounling rordS and rthn,. or we have not re¢eiv¢d all the inforniation and explanations we require for our audit. Page 4
Report of the IDdependeDt Auditors to the Trustees of St David's Cbildren Sodety Company Limited by Guarantee Respon5ibilitie5 of trustees As explained moTe fully in the Trustees, Responsibilities Statement. the truste&s (who are also the dire¢tOTS of the charitable company for the purpos&s of company law) are rwonsible for the preparation of the fuwicial statements and for being satisfied that they give a true and fair view, and for such internal control as the trusteas determine is necessary to enable the preparation of financial statements that are free from materiaI misstatement, whether dLLe lo fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable CoMpanS ability to continue as a going coneern, disclosing> as applicable, mattS related to going ¢oncern and using the going concem basis of accounting unless the tnL$tC either intend to liquidate the charitable cornpany or to ce operation4 or have no realistic alternative but to do so. Our respoDsibi]ities for the audit of the flnaneiai ststement8 We have been appointed auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act ond relevant regulations made or having effect Ihereunder. Our objectives are to obtain reasonable &ssurnnce about whether the financial statements as a whole ar¢ free from material misstatement, whether due to fizud or error, and to i&su¢ a Report of the Independent Auditors that includes our opinion. Re&8onable assurdnce is a high level of assuran¢e, but is not a guarant¢e that an audit conducted in accordan¢¢ with ISAS (UK) will always detect a mat1a1 misstatement when it exists. Misstatements can arise from fraud or e)r and are considered material if, individually OT in the aggregate, thry could reasonably be expected to influence the onomic decisions of users taken on the basis of these financial statements. Irregularities, including frdud, are inslan¢es of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, in order to delect material misstatements in respect of irregularities, including fLZUd, A further dCriptIOn of our responsibilities for the audit of the finaT]cia] statements is located on the Financial Reporting Coun¢il's website at www.frc.org.uklauditoisrcsponsibilities. This driptiOn fonns part of our Rq)ort of the Independent Auditors. Use of our report This report is rna(k solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (AOUntS and Reports) Regulations 2008, OUT audit Work has been undertaken so that we might state to the charttable comp0my'S tjvstees those rnattets we are Tequired to staie to them in an auditors, report and for no other puoSe. To the fullest extent perniitted by law, we do not accq)t or assume responsibility to anyone other than the clwitable Company and the charitable company's tThStees as a body, for our audit worl for this repoil or for the opinions we have formed. on behal f s Jones & Lo Limitsd Chartered Accountants & Registered Auditors Eligible to act as an auditor in tenns of Section 1212 of the Companies Act 2006 16 Lambourne Crescent Cardiff Busina4s Park Llanishen Cardiff CF14 5GF a-10.JY Page 5
ST DAVID'S CHILDREN SOCIETY COMPANY LIMITED BY GUARANTEE COMPANY LIMITED BY GUARAIYTEE Statement of Fimneial Activrties FOR THE YEAR ENDED 31ST ThL4RCH 2024 2024 Unrestricted fund 2023 Total nds Notes INCOME AND ENDOWMENfs FROM Donations and legaci&s 4,490 74,072 Othtrtrading activities Investment incom¢ Other income 751,021 12,918 475,483 791,324 388,169 Total 1,243,912 1,258,529 EXPEIWITURE ON Raising funds 11,674 11.123 Charitable activities Direct charitable activities Governance Costs 1,556,883 6,652 1,648,064 7,107 Totsl 1.575,209 1,666,294 NET INCOMEI(EXPENDITi]RE) (331,297) (407,765) RECONCILiATION OF FUNDS Total fut)ds brought forward 969,593 1,377,358 TOTAL FUNDS CARRIED FORWARD 638,296 969,593 The notes forni part of these financial &tatements Page 6
ST DAVID'S CHILDREN SOCIETY COMPANY LIMITED BY GUARANTEE COLVIPANY LIMtTED BY GUARANTEE Balance Sheet 31ST MARCH 2024 2024 UDTestricted fimd 2023 Total funds Notes FLXED ASSETS ]ntaDgible assets Tangible &4sets 13 14 3,834 11,155 12,751 6.513 14,989 19264 CUIUiENt ASSETS Debtors Cash at bank and in hand 15 394,200 817,090 370,759 1,081,376 1211,290 1,452,135 CREDITORS ArnOLtS falling due within one year 16 (587,983) (501,806) NET CURRENT ASSETS 623,307 950,329 TOTAL ASSETS LESS CURRENT LIABILITIES 638,296 969,593 NET ASSETS 638,296 969,593 18 Unrestricted fijnds: General fvnd 638,296 969,593 TOTAL FUNDS 638,296 969,593 The charitable company is entitled to cxcvnption from audit under Section 477 of thc Companies Act 2(M)6 for the year ended 3 1st March 2024. The rnembers have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requirlng an audit of these fll]ancial statements. The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 aT)d 387 of the Companies Act 2006 and preparing financial statements which give a trne and fair view of the state of affai of the charitable company as the end of each financial year and of its SUTplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise eomply with the requirements of the Companies Act 2006 relating lo financial statements, so for &$ applicable to the chatitable company. (b) These fanCIal statements have been audited under the Tequirements of Section 145 of the Charities Act 2011. The financial statements were approved by the Board of Trustce5 and authoris¢d for i&suc 2-10- . and were sign¢d on its behalf by: The notes fonn part of these financial statemfflls Page 7
ST DAVID'S CHILDREN SOCIETY COMPANY LIMITED BY GUARAiwfEE COMPANY LIMITED BY GUARANTEE B*l8nce Sheet- continued 31ST MARCH 2024 P Chick - Trustee The notes forni part of these fmancial statements Page 8
ST DAVID'S CHILDREN SOCIETY COMPANY LIMITED BY GUARANTEE COMPANY LIMTfED BY GUARANTEE Cash Flow Ststement FOR TIIE YEAR ENDED 31ST MARCH 2024 2024 2023 Nolas Casb flows from opervdting ftctivities Cash generated from operations 22 (269,805) (479,291) Net cash usol in operating activities (269,805) (479291) Cash flows from investing activities Irchase of intangible fixed assets Pur¢h&se of tangible fixed &sscts Interest received (250) (7,149) 2,918 (6,350) (1,958) 4,964 Net cash provided byl(used in) investing activities 5,519 (3,344) Change in eash and eash equivaleDts ID the reporting period Cash alld cash equivalents at the beginning of the reportiDg period (264,286) (482,635) 1.081.376 1,564,011 Cash Ydnd cash equivalents at the end of th¢ reporting period 817,090 1,081,376 The notes forn) part of these financial stthnents Page 9
ST DAVID'S CHILDREN SOCIETY COMPANY LIMITED BY GUARANTEE COMPA1 LIMITED BY GUARANTEE Notes to the Flnandal Statements FOR TIIE YEAR ENDED 31ST MARCH 2024 ACCOiTNtllYC POLICIES BASIS of preparing the financknl statemellts The financiaI statements of the chaTitable Tpany, which is a public benefit cntity under FRS 102. have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Chariti. Statement of Recommcndcd Practice applicable to cl)arities prewing their accounts in accordance with the Financial Reporting staTrda applicable in thc UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. and the Companies Act 2006. The financial statements have been prcpared under the historical cost All incovnc 18 rccognised in the Siatement of Financial Activities once the charity has entitlement to the fund& it is probabl¢ that the income will be rcccIvc and the amount can be mrdsured Tdiably. Liabilities are re¢ognised as expeT]diture soon as there is a legal or constrnclive obligation committing the harity to that expenditure, it is probable that a transfeT of economic benefits will be required in settlement and the ajnount of the obligation Can be measured reliably. Expenditure is a¢Unted for on an accnjals basis and has teen classified under headings that aggregate all wst reled to the category. Ivhere cosls cannot be diTectly attributed to panicular headings they have be allocated to activities on a b&si5 consistent with the use of resources. Grant entlilement Ea¢h year, the charity applies for various grant funding from severnl third parties, The grants have been recognised as income over the perlod n#essary to malch them with the related service5 being provided, for which the grants are intended to assisl withl compensate costs incurred in iheir delivernnce. These are recognised in line with the time frames specified in the grant approvals. Intangible fLxed assets Amortisation is provided at the following annual rat in order to write off each &sset over ils &stimated usethl life. Computer Software- 25010 Straight line method. Tangible fixed assets Dcpre£iation is PTovided at the following annual rates in order to write off each asset over its estimated usthl life. Fixture5 and fittings Computer equipment 2IP/D on reducing balance 25 /0 on reducing balance Taxation The chaTity is excmpt from taxation on its charltable activitics. Fund accoullting UDrcsttictcd funds caJ] be used in accordaD¢e with the charitable objectives at the dTscrelion of the trnstees. Restricted funds only be used for particular res¢ri¢tcd pury)oses within the obje¢ts of Ihe ¢haTity. Restrictions arise when specified by the donor or when fimds are Tai%d for particular restricted puTposes. Further explanation of the nature and purpose of each fimd is included in the notes to the finan¢ial ststements. Pension cogts and other post-retirement benefits The charitsble wrnpany operates a defined Contribution pension scheme. Contrtbutions payable to the charitable company's pension scheme are Chargedto the Statement of Financial Activiti&s in the period to wbi¢h they relate. Page 10
ST DAVID'S CHILDREN SOCIETY COMPANY LIMITED BY GUARANfEE COMPANY LIMITED BY GUAIL4NTEE Notes to the Financial St&tsments- conlinued FOR THE YEAR ENDED 31ST MARCH 2024 ACCOUYTLYG POLICIES. continued Operating leases Expenditure on operating lea8es is Tecwised in the accounting period lo which il relates. DONATIONS AND LEGACIES 2024 2023 Donations Covcnanls and Gift aid 4,341 149 73,741 331 4.490 74.072 OTHER TIL4DING ACTIVITIES 2024 2023 Reimbursements Rec'd Post Yle Training Course ]neome Agen¢y costs reirnbursements 47,420 285,363 458,541 240,078 510,943 751,021 791,324 INVESTMENT INCOME 2024 2023 D¢posit ount inteTe5t 12,918 4,964 OTHER]NCOME 2024 2023 Grants 475,483 388,169 RAISING FUNDS Other tradlng aetlviti 2024 2023 Depreciation 11,674 11,123 Page 11
ST DAVID'S CHtLDREN SOCIETY COMPANY LIMITED BY GUARANTEE COMPANY LIMITED BY GUA114NfEE Notes to the Finaneial Statements - conthiued FOR THE YEAR ENDED 31ST MARCH 2024 CHARrrABLE AcrivrriES COSTS Support costs (see note 8) Totals Direct charitable activities Governance Costs 1,556,883 1,556,883 6,652 6,652 1,556,883 6,652 1,563,535 SUPPORT COSTS Govemance costs Governance Costs 6,652 NET INCOMEI(EXPENDITURE) Ne4 incom¢l(¢xp¢nditure) is stated after chargingl(crcditing}: 2024 2023 Auditors, remuneration Depreciation- owned assets Computer software amortisation Staff pension contributions Operating le charges 6,652 2,507 9,167 105.685 35,970 7,107 2,910 8,213 108,404 44,557 io. TRUSTEES, REIKUNERATJON AM) BENEFITS Trustees benefits foT the yearto 3 1st March 2024 for Ms M McGowan totslled £2,628 (3J.03.2023 - £2,235) Trustees, expenses The following travelling eXpelS were reimbursed to trustees during the yeaT:. 2024 2023 Mr. A .Lusk Mr T. Connor Ms D. Evans Mrs. M. McGowan 49 789 62 73 391 52 900 516 Page 12
ST DAVID'S CHILDREN SOCIETY COMPANY LIMITED BY GUARANTEE COMPANY LIMITED BY GUAIL4NTEE Note5 to the Financial Statsments - ¢ontinued FOR TIIE YEAR EIIDED 31ST MARCH 2024 ii. STAFF COSTS 2024 2023 Wages and salaries So¢ial security Costs Other pension ¢osts 1,081,739 106.060 105.685 1,157,752 112,574 108.404 1293,484 1.378.730 The average monthly number of employees during the year was as follows: 2024 io 16 2023 Full time Part time 17 26 28 The number of employees whose employee benefits (excluding employer pension wsts) exceeded £60,000 was: 2024 2023 £60,001- £70,000 £80,001- £90,000 There were 3 fijrther employtts, in addilion to the above that during the period received employee benefits including employer pension in excess of £60,000 but below £70.000. Iz. COMPARATIVES FOR THE STATEMEY4T OF FLYAIYCIAL AcfiviTIES Unrestricted fjjnd INCOME AND ENDOWMENTS FROM Donations and legacies 74,072 Other trading activities ]nvestment incom¢ Other income 791,324 4,964 388,169 Total 1258,529 EXPENDrruRE ON Raising fvnds 11,123 Charitable ydedties Direct charitable actlvities Governance Costs 1.648,064 7,107 Total 1,666,294 ET INCOMEI(EXPENDITURE) (407,765) Page 13
ST DAVID'S CHILDREN SOCIETY COMPANY LIMITED BY GUARANTEE COThIPANY LIMITED BY GUARAKfEE Notes to the Finan¢fial Ststements- eoDtIDued FOR THE YEAR ENDED 31ST MARCH 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcfiviTIES- continued Unrestricted fund RECOIYCILIATION OF FtJNDS Total funth brought forward 1,377,358 TOTAL FUNDS CARRIED FORWARD 969,593 13. INTANGIBLE FIXED ASSETS Computer software COST At 1st April 2023 Additions 36.479 250 At 31st Mareh 2024 36,729 AMORTISATTON At l st April 2023 Charge for year 23,728 9,167 At 31sL March 2024 32,895 NET BOOK VALUE At 315t March 2024 3,834 At 31st March 2023 12,751 14. TANGIBLE FIXED ASSETS Fixtyres Computer uipment fittings Totals COST At April 2023 Additions 9.510 81,172 7,149 90,682 7,149 At 31st March 2024 9,510 88,321 97,831 DEPRECIATION At 1st April 2023 Charge for year 9,510 74,659 2,507 84,169 1507 At 31st March 2024 9,510 77,166 86,676 NET BOOK VALUE At 31st March 2024 11,155 11,155 At 3 1st March 2023 6,513 6,513 Page 14
ST DAVIDIS CHILDREN SOCIETY COMPANY IIMITED BY GUARANTEE COMPANY LIMITED BY GUARANfEE Notss to the Ffinandal Statements- continued FOR THE YEAR ENDED 31ST MARCH 2024 15. DEBTORS: AMOUIYTS FALLTr4G Di]E WITIItN OIYE YEAR 2024 2023 Trade debtors Other dcbtOTS WG ATS Money Prq)ayments and accrued income 250,444 110,821 12,488 20,447 143,447 196,806 11,524 18,982 394200 370,759 16. CREDITORS: AMOUNTS FALLING DUE IvrrHIN ONE YEAR 2024 2023 Trade creditors Social security and other tax&8 21,923 24,677 17356 22,767 27,101 14,427 28,103 337.119 72289 VAT Other creditors Deferred income Accrned expens 477J79 46,208 587,983 501,806 Deferred incom¢ relates to monies received by the charity that have not yet been Te¢ognised as income in the financial staternents. The monies will remain In deferred income until such time that the charity is entitl to the nds. 17. LEASING ACREEMENTS Minimum lease payments under non-cancellable operating leases fa]1 due &s follows: 2024 2023 Within one year Between one and five years tn more than five years 35.954 141,671 43,750 35,000 140,0(XJ 78,750 221,375 253,750 18. MOVEMEIYT IN FUNDS movement in funds At 31.3.24 At 1.4.23 Unrestri¢ted funds General fund 969.593 (331,297) 638,296 TOTAL FUNDS 969,593 (331,297) 638,296 Page 15
ST DAVID'S CHILDREIY SOCIETY COMPANY LIMITED BY GUARANTEE COIIIPANY LIMITED BY GUA114NTEE Notes to the Flnaneial Statements - contlnued FOR THE ITAR ENDED 31ST MARCH 2024 18. MOVEMENT IN FUNDS- ¢ontinued Nd MOv¢t in funds, includAI in the above are as follows: Incoming Movement in fuT]ds expended Unrestricted funds General fvnd 1,243,912 (1,575,209) (331.297) TOTAL FUNDS 1243,912 (1,575209) (331,297) Comparatives for movement in funds Net movement in funds At 31.3.23 At 1.4.22 Unrestricted funds General fund 1,377,358 (407.765) 969,593 TOTAL FUNDS 1,377,358 (407.765) 969,593 Cornpardtive net movement in funds, included in the above aTe as follows: Incoming Resources rcsources ¢xpendpAI Movement in funds Unrestrieted fuDds General fund 1.258,529 (1,666,294) (407,765) TOTAL FUNDS 1258,529 {I,666,294) (407,765) A current year 12 months and prior year 12 months combined position is as follows: Net rnovement in funds At 31.3.24 At 1.4.22 Unrestslcted fvnds Generdl fund 1,377,358 (739,062) 638,296 TOTAL FUNDS 1,377,358 {739,062) 638296 Page 16
ST DAD's CHILDREN SOCIETY COMPAI LIMITED BY GUARANTEE COMPANY L]MrrED BY GUARANTEE Notes to the Financial Statements - cootinued FOR THE YEAR EI¥DED 31ST MARCH 2024 MOVEMENT FUNDS- eontlnued A currcnt year 12 months and prior year 12 months covnbined net movement in fimd4 included in the above atE as follows: Incoming resources Resources expended Movement in funds Unrestrleted funds Gcneral fund 2.502,441 (3,241.503) (739,062) TOTAL FUNDS 2,502,441 (3,241503) (739,062) 19. RELATED PARTY DISCLOSURES There were no relaled party transactions for the year ended 31st March 2024. 20. POST BALANCE SHEET EVENTS Post year end Wendy Keidan sIgned as CEO with Jason Baker then being appointed (previously dcputy director). 21. ULTIMATE CONTROLLING PARTY The company is limited by guarantee and ljas no shaTe capital . Therefore theTe is no ultimate controlling paty. 22. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net expendlture for the reportlng period (as per tbe Statement of Financial Activities) Adjustmenls for: Depreciation charges tnterest received Incree in debtors IncreaseJ(decre&se) in crcditors (331297) (407,765) 11,674 (12,918) (23,441) 86,177 11,123 (4,964) (26,734) {50.951) Net cash used in operations (269,805) (479.291) ANALYSIS OF CHANGES IN NET FUNDS At 1.4.23 Cash flow At 31.3.24 Net Cash Cash bank and in hand 1,081,376 (264,286) 817,090 1,081,376 (264,286) 817,090 TotAI 1,081,376 (264286) 817,090 Page 17
ST DAVID'S CHILDREN SOCIETY COMPANY LIMITED BY GUARANTEE COMPANY LIMtTED BY GUARANTEE Notes to the Financial Ststements - eontinued FOR THE YEAR ENDED 31ST MARCH 2024 COMPANY LIMITED BY GUARANTEE 11)e Society is governed by its Memordndum and Articles of Association. The Society is a company limited by guarantee, and accordingly has no share capital. 25. PRESENTATION CURREF4CY The presentation CUncY of ihese financial st*ments is £ pounds sterling. Page 18
ST DAVIDIS CHILDREN SOCIETY COMPANY LIMITED BY GUARANTEE COMPANY LIMITED BY GUARANfEE Detailed Statement of Financial Activities FOR THE YEAR ENDED 31ST MARCH 2024 2024 2023 INCOME AND ENDOWMENTS Donations and legaeies Donations Covenants and Gift aid 4341 149 73,741 331 4,490 74,072 O¢her trading aclivitie5 Reimbursements Rec'd Post Yle Trdining Course Income Agency costs reimbursements 47,420 285,363 458,541 240,078 510,943 751,021 791,324 IDve4tment income I)eposit account interest 2,918 Other Income Granls 475,483 388,169 Total incoming resources 1243,912 1,258,529 EXPEiYDITURE Other trading activities AmortAS8tion of inlangible fixed assets DePlatIOn of tangible fed assets 9,167 2,507 11,123 11,674 11,123 Chr4ritable a¢tlvities Wagcg SIKial security Pcnsions Tdephone Postage and stationery Advertising Sundries 1,081,739 106,060 105,685 11,967 2,572 42,374 5,546 1,157,752 112,574 108,404 12,666 2,658 53,862 4,013 E 11 Rent and Tepairs Travel & accommodation Subscriptions Office support Statutory checks Bank charges Family assistance Training and recNitment Canied forward 50,947 15,947 12,855 58,404 1,674 687 44,709 8,386 1,549,552 55,488 10,183 11,416 62,712 1,175 468 42,641 6,727 1,642.739 This page does not form part of the statOry financial ststernents Page 19
ST DAVID'S CHILDREN SOCIETY COMPAI4Y LIMITED BY CUARAIYTEE COMPANY LIMITED BY CUARANTEE Detailed Statement of FinanciA] Activid FOR THE YEAR EJYDED 31ST MARCH 2024 2024 2023 Charit&bl¢ a¢tivlties Bmught fonvard Light and heat 1,549,552 7,331 1,642,739 5,325 1,556,883 1,648,064 Support ¢osts Covernanee eosts Auditors, remuneration 6,652 7,107 Total resources exp¢nd¢d 1.575.209 1,666294 Net expendlture (331297) {407.765) This page does not fomi part of the statutory financial statements Page 20