Charity ragistration number 511211 Company registratlon number 018096541England and Wales) PEOPLE AND WORK UNIT ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
PEOPLE AND WORK UNIT LEGALAND ADMINISTRATIVE INFORMATION Trustees Dr C Sophocleous P G Watkins G J McHugh G D Lewis J L Huyton DJRees C B Vallance (Appointed 5 October 2023) Secretary S Lloyd-Jones Charlty number 511211 Company number 01809654 Reglstered office Unit 1 @Loudon Plas lona Bute Town Cardiff CF10 SHW Independent examlner Dorrell Oliver Ltd Linden House Monk Street Abergavenny Monmouthshire NP7 5NF BankerJ HSBC Bank plc 1 Bridge Street Newport South Wales NP20 6UT
PEOPLE AND WORK UNIT CONTENTS Page Trustees, report Independent examinerfs port Statement of financial activities Balance sheet 10 Notes to the financial statements
PEOPLE AND WORK UNIT TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 Chair's Report l am writing this in May 2024. The last 12 months have seen People and Vvork continue to work for the people of Rhondda and with organisations across INales. We are taking forward the lessons learned from The Llethi Glo a Chefn project. along with the partners. There has also been some important evaluation work done induding the ongoing evaluation of the Invest local programme and research into the support needs of disadvantaged young people. Staff have adjusted to a hybrid work model, between home working and being office based and we have again focused on keeping overhead costs as low as possible. The economic situation is still uncertain. This will impact parlicularly on the people of Rhondda and on the rest of Wales. People and Work recognises that employment is the key focus to improve people's life chances. Education, training and support for people to get into the labour market and secure jobs are the key ingredients of our vrk. This last year has seen the development of the Rhondda team to the point where they will become fully independent in 2025, launching a new Rhondda owned and ked Charty designed and implemented by young Rhondda pecyle. Support has been given to the development of the new organisation and will continue, as long as it is requested. Because of Ihis major development, People and Work will be looking at its future strategy in 2024. The options include focussing on another area of Wales., or focussing on a broader advocacy role. 2024 sees our 40th anniversary as a charity and a lot has been leamed in the past 40 years about what works and what doesn't, and what is needed for the future of community development. A big focus going fOard will be how we share this experience. Financially, People and Work has had a good year in both acSSing funding and earned income. which has enabled the development of a number of posts, some of which are time limited, enabling young people to gain work experience, including those working in their own communty. It is difficult to predict success in omaining research contracts, though our reputation is good and we have a great team. It remains to be seen how the funding landscape might change. People and INork also needs to work on its advocacy and infomiation sharing role. in developing relationships with, and persuading other organisations of, what is needed and what works, given its long experience. The financial statements have been prepared in accordance with the accounting policies set out In note 1 to the financial statements and comply with th@ Charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their 8ccounts in accordance with the Financial R8POrting Standard applicable in the UK and Republic of Ireland {FRS 102)" (effective 1 January 2019).
PEOPLE AND WORK UNIT TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Objectives and activities The charity's objeds are the advancement of education by carrying out andlor assisting in carrying out research and study into social and economic problems for the benefit of the general public,. additionally, to promte education in all matters related to community organisations. People and Vvork seeks to make a difference through two core functions: to promote the value of education and learning (for all age groups) as a tool for tackling inequalities and promoting employment, through a programme of community-based action research projects; and to undertake commissioned research and evaluation work for the public and third sectors in Vlales addressing inequalities in areas such as education (formal and informal), health and employment. People and Work's self-generated action research work is funded through charitable twsts and funds. Eamed income comes from commissioned research and evaluation work done for the public and voluntary sectors. Any surplus earned through the research and evaluation contracts goes into action research work that aims to build understanding of effeckn.ve ways to tsckle the causes and effects of poverty, especially in relation to education, health and employment outcomes.
PEOPLE AND WORK UNIT TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Achlèvaments and perfomiance Cenhedlaeth Rhondda Generation A core groups of five local residents who have worked for People and Work over a few years have d&ided to develop their own Rhondda based charity. Their work focuses on working with people in Rhondda to develop all aspects of wellbeing - health. leaming, employment and digital inclusion. The plan is to gradually move on from People and Work and already 'shadow' systems have been set up with the group administrator collectirKJ monthly expenses and starting to keep parallel financial records. As current People and Work project funding Gomes to an end (mostly by March 2025 although some will go to end of May 2025) the aim is to repla it with funding for the new charity. The key programmes currently being run are.. Green Llght- employment support Green Light is funded to work in the Upper Rhondda Valleys by Pen y Cymoedd Community Fund and the team generate its own income to cover addttional work in the lower part of the valleys. In 2023, Green Light engaged with over 350 individuals. This support ranges from CV building, job searching. interview preparation. a(xessing skills and training courses and helping in removing olher barriers to employment. Green Lights provides employment support to unemployed and employed people. The Green Light project has no criteria for people to engage with the programme and will work with anyone that requires employment support. During 2023 support from The Rank Foundation enabl8d Green Light to enrol and fund people onto various courses. These courses include: first aid, food hygiene, sports Coaching, and CSCS cardsltraining. The project worked with a Rhondda based course provider who are very keen on collaborating with charits"es. They have offered courses at discounted prtces and have been very flexible and understanding with those Green Light work wilh. Additionally, they have offered free resits to those Green Light participants who fail. Green Light has also been central in creating connections and lIasIng with local MPS. In November Green Light was approached by a local MP to help with employment support for the internakn'onal student population in the Rhondda. Green Light had already been working with intemational students through the Food Banks, and the local MP reached out in hopes that Green Light could aid in CV building, Job searching, and funding courses for the students. Between September and December 2023 Green Light helped 31 intemational students facing complex issues with employment support. Green Light has continued to liaise with local MPS and aids to feedback community issues regarding employment. Participants ar8 referred to Green Light through a variety of ways. Most have come Ihrough referral through the Job Centre or employment events. Others have been refeed to by word of mouth or from externall partner organisation5 or social media. and four individuals have been referTed to us by local MPS. Readlng Rhondda Darllen The Reading Rhondda project was born out of research done by a community member working for People and Work post pandemic. Afler speaking with family and community members in Rhondda and looking at national statistics she noted the decline in reading and literacy skills in primary aged children. The Reading Rhondda project is funded by Pen y Cymoedd Community Fund and the Waterloo Foundation. aims to bridge this gap by holding sessions with parentslcaregivers and children with the emphasis on encouraging reading and literacy at home, as 11 as providing reading materials for the children involved to access on a regular basis. The sessions at the schools are focused weekly on a particular book and involve family craft activities linked to the story. Sessions are run in schools and in the community and work with pre-school up to year 6.
PEOPLE AND WORK UNIT TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 By the end of 2023 Reading Rhondda had an average of 44 families attending sessions every Vek and was working within 9 primary schools, 2 pre-schools and 2 community settings. In the summer fundlng was secured from the Shared Prosperity Fund to enable the project to add Welsh medium sessions. This has enabled the project to develop in Welsh medium schools, particularly valuable as many of the parentslcareglvers do not speak Welsh themselves so building their confidence in supporting their child's adIng is important. Bi-lingual pre-school sessions are also being run. One parent whose Child wlll attend a Vvelsh medium school said.. °Introducing Welsh into the sessions has been 8 bnlliant welcome for families who speak Wglsh orlittle on8S who will b6 8tt8nding Welsh settings. Picking up a new worf orphrase helps along with the help of the books that we can take home. Claire has been welcoming in every $8ssion and my daughter always loves going and singing her Welsh songs along with all the actions.. -Reading Rhondda paTrnt. The sessions are also valued by the parentslcaregivers as valuable time to SP8nd with théir child: 'Me and my son love when Reading Rhondda Come to the school. It has made me and my son bond by having time to Spend together, it has helped me with my confidence with parenting my son and meeting others. [my chlldl loves the ladies who run the sessions and on the days they are there he can't wait to go to school when the rest of the time it has been a struggle.. - Reading Rhondda parent Rhondda Dlgldol. Rhondda Digidol is a project based In the Rhondda that has been developed to help tackle issues around digital inclusion. A key factor to the Rhondda Dlgldol work is working alongside individuals and groups lo support them to make the best use of current digital opportunities for friendship, shopping, work, health, education, and communication. The project aids in helping to tsckle digital inclusion through the provlsion of devices. data, and the necessary knowledge to use them effectively. It has fve key objectives.. Promote digital inclusion in Rhondda. Tackle digital exclusion through the provision of devices,, Reduce data poverty In Rhondda., Offer digital support, training and coding opportunities to people In Rhondda., and Reduce digital device waste through donations. In 2023 Llnk approached Rhondda Digidol about piloting some work to promote digitsl inclusion, particularEy amongst adults and older people. In November new slaff joined Rhondda Digldol funded by Link. and broadened the focus to include working in libraries, care homes and running regular digital events. One to one support with digltal technology was given in the last year to 132 people, of whom 55 w6 SUPPOrted with key activities such as banking, doctors appointments and contacting friends., 49 were supported with employability. 15 were supported to make social contacts and others were helped with adult education and children's schoolwoth. In addition to the one to one work that project delivers coding club sessions and has worked with schools to develop a six week coding course. Clubs are run in schools. community venues and libraries. Regular computer gaming clubs are also run offering young people a safe place to come. In partnership with the local authority youth team coding and gaming clubs run in school holidays have worked with 330 young people in the past year. The project provided 52 people with no access to the internet with sim cards this year. The cards come from the Good Things Foundation and come pre-loaded with data. The project has also encouraged other organisations In Rhondda to access these free sim cards and there are now five places where people can get them, a year ago Rhondda Digidol was the only source. The project has also provided five laptops and 14 tablets to c(xnmunity member this year and recycled surplus equipment from Rhondda Housing Association and local schools.
PEOPLE AND WORK UNIT TRUSTEES. REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 PIAS LI6s PIAS Lles is the evolution of Play It Again Sport. a People and Work social enterprise run since 2018, and has been funded by the National Lottery from February 2023-February 2028. The main targets of this project are: Sustainability hubs - support local groupslorganisations to implement 3 over the next five years, to promote an awareness of climate change and what people can do to make a difference {SLFPPOrt community led activity) 50.000 tonnes of sports kit diverted from landfill 500 people involved in community wellness (sport, physical movement and well-being) 30 local leaders trained and delivering local activtties 6 monthly local newsletterlreviews - provide a progress report Environmental work to support community activity in environment-led and engaging groups and support them in the work they do, and to become self-sufficient (support with bank accountslgetting constituted etc). The key theme of PIAS Lles is to encourage community activism to tackle climate change. support the health and well-being in Rhondda communities through the provision of the equipment needed and also providing Ihe activits'es, and then supporting volunteers in order for these groups to be self-sufficient. In its first year the programme ha5 SUPPOrted the development of three sustsinability hubs: Y Slop Fach Sero in Ferndale. Slop y Llyn in Clydach Vale. and Pentre Comrades Club. In addition, the programme has worked with Grow Rhondda in Blaenrhondda to develop Y Potyn Bach, a café hoping to develop a stronger focus on sustsinability. Flt and Well - PIAS delivery. The core provision includes weekly sessions.. Monday running group (beginnerslexperienced wnners, Clydach Vale Athletics Track) Tuesday walking group (hyper-local, always in YnyshirlPorth, no more than 4 miles) Wednesday walking group (locations change weekly, distance varies from 3 -6 miles) Happy Feet monthly Saturday walking group (locations change, minimum of 8 miles) Walking Rugby weekly Various ad-hoc activities (YEPS sports sessions, PT sessions etc) These activities consistently engage with over 90 people monthly. PIAS Lles has been exploring new developments, including running a community survey in June 2023 to see what activities people wanted to be able to access. In the summer, Shared Prosperty Funding provided for two part-time assistants to help with delivery, one focusing on work with young people and schools, and on walking football and rugby with adults, and one on walking and fitness training. In addition, a trainee with funding from the Rank Foundation has strengthened the team's capacity. New activities which have been launched include: Strength & Balance class (Fridays at Pentre Comrades Club) Strength & Balance class (Mondays at Arts Factory) Arts session (Tuesdays at St Peteff 5 Church) Wednesday walking group {hyper-local, always from Pentre, no more than 3 miles) Personal Training Gym Support (Thursdays at Ystrad gym) Youth Club gum sessions with YEPS (Mondays in Ynyshir) This has been an initial trial to see how lower-level physical and well-being activities are received, and so far (they only launched mid-January), the response has been positive, ther8 have b@8n over 60 people engaged with through these additional activities.
PEOPLE AND WORK UNIT TRUSTEES, REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The project works with schools throughout Rhondda, working with around 210 children and young people a week. One of the SPF funded workers 15 developing a Community Interest Company in Rhondda to provid8 sporls activities People and Work have been able to support him to become quallfled through the FAW and as a cricket coach and help him create the sports business called Next Level. Next level has been set up to help young people In Rhondda who are unable to play football for a club due to waiting lists, confidence or having difficulties being in groups. Already 30+ have enrolled and the team collaborated with Ton Pentre AFC to create a junior football sectlon from aged 5-11. People and Work will continue to 8UPPOrt Indlvlduals training to provide access to sports and fitness and help them obtain DBS check. Celebratlng 40 years People and Work was launched as an independent charity on Aprll 17th 1984 and this year we are celebrating 40 years in 2024. We are working with partners to develop a series of short papers the capture aspects of what we have leamed over these 40 years and we wlll be sharing these with the wider Welsh voluntary sector and policy makers as the year progresses Talwm Talwrn is a partnershlp of voluntary sector leaders in Wales convened by People and Work. It is an inft)rmal group and has contlnued to provide a valued space for people to talk about thelr work. its challenges and strength5 Evaluatlon and Research People and Vvork earns income from providing evaluation and research support to the public and volLntary sectors in Wales. We focus on qualitative work that meets with the charity's overall objectives and are committed to work that enables clients to develop their work to support people as effectively as posslble. The research and evaluation work has continued to develop and during 2023 and we worked on some key poliry areas for the Welsh Government, including- Rapid Evidence Review,. Supporting 'inactive' NEET young people to overcome intersectional barriers to accessing and sustaining their work goals The evaluatlon of the Invest Local programme run by Buildlng Communities Trust ev ion?1 The evaluation of Communities for Work + with Old Bell3 - An evaluats'on of the Autism Code of Practice A formative evaluability assessment of th8 Young Person's Guarantee. In addition, in the last year People and Work has pn)vided evaluation support to: Age Cymru West Glamorgan who are leading on developing a coherent approach across five voluntary sector organisations to support people with dementia and their carers. Bamado's in Gwynedd and Ynys Mon with a five year programme to develop improved support for mental health with young people., GISDA in Gwynedd to develop support for young people. North Wales CAMHS who are developlng their In-Reach to Sd)ools programme Flnan¢lal review The results for People and Work are as shown In the Statement of Financial Activlties. The trustees have reviewed the charlty's need for reserves in line with guidance issued by the Charity Commlssion. Reserves policy A policy has been established whereby the unrestrlcted funds not committed or invested in tangible fixed assets (free reserves) should be beeen two and three months unrestricted expenditure. At this level, the trustees fe81 they would be able to continue the current activities of the charity in the event of a significant delay in funding. The policy is reviewed annually against current commitments.
PEOPLE AND WORK UNIT TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Major risks The Trustees have assessed the major risks to which the Charty is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. Structure. governance and management The Charity is a company limrted by guarantee and does not have any share capital. The Trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were.. Dr C Sophocleous P G Walkins G B Davies G J McHugh G D Lewis J L Huyton DJRees C B Vallance (Resigned 6 June 2023) (Appointed 5 October 2023) Recmitment and appointmgnt of tniste8S Unless otherwise determined by a General Meeting, the numbers of the members of the Goveming Body shall not be fewer than six or more than thirty. The Governing Body shall from time to time appoint a member the Goveming Body, either to fill a casual vacancy or by way of addition to the Governing Body, provided that the prescribed maximum is not thereby exceeded. Any member so appointed shall retain their office until the next Annual General Meeting, but he or she shall then be eligible for r&election. None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up. Organisational sÈnJGtu Dr Duncan Holtom heads up the research team working with Rhodri Bowen, senior researcher, and Emma Preece. James Hall is operations manager looking after IT systems, office bases and equipment. He also he&ls up partnershlp work. James Watts•Rees leads the Fit and Well school and sports work and manages Gavin Jenkins and Raylee Caviell., manages Tomas Jenkins and the development of Cenhedlaeth Rhondda Generation. Tomas Jenklns leads the Green Light programme. Ethan Jones manages Rhondda Digidol and manages Heather Hansen and Scott Jones Natasha Burnèll leads on social enterprise and environmental sustainability and manages Luca Evans. Natasha Owens leads Reading Rhondda and manages Claire Davies. Sardh Lloyd-Jones is the director and works with our Trustees Ann Churcher Is the administrator. Relationship with related parties There are no related parties. The Trustees, r port was approved by the Board f Trus G J McHugh Trustee 13 May 2024
PEOPLE AND WORK UNIT INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PEOPLE AND WORK UNIT I report on the financial statements of the Charity for the year ended 31 December 2023, which are set out on pages 9 to 19. Respective responsibilities of Trustees and examlner The Charity's Trustees, who a also the directors of People and Work Unit for the purposes of company law. are responsible for the preparation of the accounts. The Trustees consider that an audit is not required for this year under section 144{2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity's gross income exeded £250,000 and l am qualified to undertake the examination being a quallfied member of the Institute of Chartered Accountants in England and Wales. Having satisfied myself that the charity is not subject to audit under company law and is ellgible for Independent examination, it is my responsibility to: examine the financial statements under section 145 of the 2011 Act; (li) to follow the prOdureS laid down in the general Directions given by the Charity Commission under section 145{5){b) of the 2011 Act. and (iii) to state whether particular matters have come to my attention. Basls of Independent examlnerfs report My examination was carried out in accordance with the general Directions given by the Charity Commlsslon. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disdosures in the financial statements, and seeking explanations from you as trustees concerning any such matters. The procedures undert8ken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the financial statements present a 'true and fair view and the report is limited to those matters set out in the next statement. Independent examlnerfs statement In connection with my examination, no matter has come to my attention: (a) which gives me reasonable caus8 to believe that in any material respect the requirements: (i) to keep accounting records in accordan with section 386 of the Companles Act 2006. and (li) lo prepare financial statements which a¢¢ord with the accounting records, comply with the accounting requirements of section 398 of the Companles Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities; have not been met or (b) to whlch, in my opinion, attention should be drawn In order to enable a proper understsnding of tk financial statements to be reached. PELeaFCA Dorrell Oliver Ltd Chartered Accountant Linden House Monk Street Abergavenny Monmouthshire NP7 5NF Dated: 13 May 2024
PEOPLE AND WORK UNIT STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestrlcted Restrlcted funds funds 2023 2023 Total Unrèstrletsd Restrfcted funds funds 2022 2022 Total 2023 2022 Notes Income and endowments from: Donations and legacies Charitable activities Investments other income 295,184 295,184 266,043 6.054 3,243 359.495 359,495 193,229 2,082 20.857 266.043 6.054 193.229 2.082 3.243 20.857 Total income 272.097 298.427 570.524 195,311 380,352 575.663 Expendlture on: Charitable activities 212,812 222,818 435,630 154,069 403,776 557,845 Total expenditure 212,812 222,818 435,630 154,069 403,778 557,845 Net gainsl(losses) on investments 12 (1,888) (1,888) (3.585) (3,585) Net income and movement in funds 57.397 75.609 133.006 37.657 (23,424) 14,233 Reconciliation of funds: Fund balances at 1 January 2023 143,363 35.691 179,054 105,706 59.115 164,821 Fund balances at 31 December 2023 200,760 111,300 312,060 143,363 35,691 179.054 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
PEOPLE AND WORK UNIT BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 Notes Flxed assets Investments 14 17,435 19.684 Current assots Debtors Cash at bank and in hand 15 28.845 278,014 30,347 160,826 306,859 191,173 Credltors: amounts falllng due wlthln one year 16 (12,234) (31,803) Net current assets 294,625 159,370 Totsl assets les8 current Ilabllltles 312,060 179,054 Net assets excludlng penslon Ilablllty 312.060 179,054 The funds of the Charlty Restricted income funds Unrestricted funds 18 111,300 200,760 35.691 143,363 312,060 179,054 The company is entitled to the exemption from the audit requirement contained In section 477 of the Companies Act 2006, for the year ended 31 December 2023. The Trustees, acknowledge their responsibilities for ensuring that the charity keeps accounting CordS which comply with section 386 of the Act and for preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources. including its income and expendilure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the Trus eson13M y2024 e.-d T G J McHugh Trustee Company registralion number 01809654 (England and Wales) 10-
PEOPLE AND WORK UNIT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng policiès Charity information People and Work Unit is a private company limited by guarantee incorporated in England and Wales. The registered office is Unit 1 @Loudon. Plas lona, Bute Town, Cardiff. CF10 5HW. 1.1 Accounting conventlon The financial statements have been prepared in accordance with the Charity's [governing document], the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland- fFRS 102°) 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 Ireland (FRS 102)" (effective 1 January 2019). The Charity is a Public Benefit Entty as defined by FRS 102. The Charity has taken advantsge of the provisions in the SORP for charities not to prepare a Statqnent of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the Charity. Mon8tary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Golng 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 concem basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. 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 stalemenls. 1.4 Incoming resources Income is recognised when the Charity is legally entitled to it after any perfomiance Gondilions have been met, the amounts can be measured reliably, and it is probable that income will be received. 1.5 Resources expended Direct charitable expenditure includes all expenditure directly related to the objects of the Gharity. Costs have been apportioned as a percentage of project costs in line with the grant conditions. Saiaries have been apportioned on a time basis. 1.6 Tanglblg flxed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impaiment 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: Plant and equipment 250h Straight Sine 11
PEOPLEAND WORK UNIT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounllng pollcles (Contlnued) 1.7 Flxed asset Investments Flxed asset Investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value 8t each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as Incurred. 1.8 Cash and cash equlvalents Cash and cash equivalents include cash in hand. deposits held at call wlth banks. other short-term liquid investments with original maturities of three months or less. 1.9 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 ils financial instruments. Financial instruments are recognised in the Charty's balance sheet when the Charity becomes paty 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 @nforceable right to set off the recognised amounts and Ihere is an intention to settle on a net basis or to reali5e the asset and settle the liability simultsneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balan5, are initially measured at transaction price . Financial assets classified as receivable within one year are not amortised. Baslc flnanclal Ilabllltles Basic financial liabilities. including creditors are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised. Trade creditors are obligations to pay for goods or seNices 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. Derecognition of financial liabilities Financial liabilities are derecogni8ed when the Charity's contractual obligations expire or are discharged or canlled. 1.10 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 teminate the employment of an employee or to provid8 termination benefits. 1.11 Retlrement beneflts Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. 12-
PEOPLE AND WORK UNIT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Critical accounting estimates and judgements In the application of the Charty'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 cnly that pertod. or in the pertod of the revision and future periods vthere the revision affects both cuent and future periods. Grant Income 2023 2022 Grants receivable 295,184 359,495 Grants receivable for core activities The Rank Foundation WCVA Third Sector Resilience Grant Fund National Lottery Communty Fund - Supporting Great Ideas Pen y Cymoedd Link Scheme Ltd Global Charities WCVA DWP Kickstart programme National Lottery Community Fund - People and Places Moondance Foundation Waterloo Foundation Rhondda Cynon Taff Other 27,058 51,465 40,000 153,027 22,754 50,968 57,950 36,150 24,697 17.052 35,000 15,000 57,021 35.000 5,098 25,939 500 295,184 359,495 Charitablo activitles 2023 2022 Research income 266,043 193,229 13-
PEOPLE AND WORK UNIT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Income from investments Unrestrlctsd Unrestrlcted funds funds 2023 2022 Interest reIvable 6,054 2,082 Expendlture on charitable activities Funded Research Actlon and Rasoarch Evaluatlon 2023 2023 Totsl Funded Research Actlon and riesearch Evaluation 2022 2022 Total 2023 2022 Direct costs Staff costs Research Project costs Activity and training Printing, stationery and advertising Phone 194,834 152,859 30,431 347.693 30,431 7.836 3.255 238.000 116,847 8,453 354.847 8.453 141,464 802 7,836 1,639 141.464 95 1,616 707 892 876 2.744 86 1,582 4.500 4.906 415 852 3,796 374 1.156 2,693 1,327 1.307 1.728 6.540 460 2,738 7,193 6,233 935 1.284 4.694 56 1,451 5,875 6,503 785 391 3,245 683 1,284 3,217 550 1.720 1.675 7,939 739 2,735 9,092 7,053 Sundries Insurance Rent Travel expenses Interpreters and trans18tors Equipment Books and subs Administration 6,145 1,468 1,836 5,274 6,145 4,391 1,836 5,274 433 2.986 6,185 410 1,406 5,393 6,618 3,396 1,406 5,393 2,923 222,818 210,242 433,060 403,776 149,556 553,332 Share of support and governance costs (see note 8) Support 157 Governance 2,413 157 2,413 2,000 2,513 2,000 2,513 222.818 212.812 435,630 403,776 154,069 557,845 Analysls by fund Unrestricted funds Restricted funds 212,812 212,812 222,818 154,069 154,069 403,776 222,818 403.776 222,818 212,812 435.630 403,776 154,069 557.845 14-
PEOPLE AND WORK UNIT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DEGEMBER 2023 Description of charitable activitias Funded Action Research - Supporting people in education and skills programmes. Commissioned Research and Evaluation - Evaluating and researching as commissioned. Support costs allocated to actlvltles 2023 2022 157 2.413 2,000 2,513 Govemance costs 2,570 4,513 Analysed between: Research and Evaluation 2,570 4.513 Net movement in funds 2023 2022 The net movement in funds is stated after chargingl(crediting}'. Fees payable for the independent examination of the charity's financial statements 2.413 2,513 10 Trustees None of the Trustees (or any persons connected with them) received any remuneration or benefits from the Charty during the year. 15-
PEOPLE AND WORK UNIT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 11 Employees Number of employees The average monthly number of employees during the year was.. 2023 Number 2022 Number Project Research 11 12 Employment Costs 2023 2022 Wages and salaries Social security costs Other pension costs 293,933 24,417 29,343 291,014 25,125 38,709 347,893 354.848 There were no employees whose annual remuneration was £60,000 or more. 12 Net galnsl{losses) on investments Unrestrlctsd Unrestrlcted funds funds 2023 2022 Revaluation of investments (1,888) (3,585) 13 Taxatlon The charity is exempt from taxation on its activities because all its income is applied for charitsble purposes. 16-
PEOPLE AND WORK UNIT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 14 Fixed asset Investments Llsted investments Cost or valuatlon At 1 January 2023 Valuation changes 19,884 (2,249) At 31 December 2023 17,435 Carrylng amount At 31 December 2023 17,435 At 31 December 2022 19,684 15 Debtors 2023 2022 Amounts falllng due wlthln one year: Trade debtors 28,845 30,347 16 Creditors: amounts falllng due wlthln one year 2023 2022 Accruals and deferred income 12,234 31,803 17 Retirement benefit schemes 2023 2022 Deflned contrlbutlon schemes Charge to profit or loss in respect of defined contribution schemes 29.343 38,709 The Charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Charity in an independently administered fund. 17-
PEOPLE AND WORK UNIT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 18 Restrfcted funds 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. Movement In funds Incomlng Resources Balance at expended1 January 2023 Movement In funds Incomlng Resources Balance al resources expended 31 December 2023 Balance at 1 January 2022 Project funds 59,115 380,352 (403,776) 35.691 298,427 (222,818) 111,300 19 Unrestrlcted funds 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 indude designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 January 2023 Incomlng resources Resources expended Galns and losses At31 Decembor 2023 Generdl funds 143,363 272,097 (212,812) (1,888) 200,760 Prevlous year: At 1 January 2022 Incomlng resources Resources expended Galns and losses At31 December 2022 General funds 105,706 195,311 (154,069) (3,585) 143.363 20 Anatysls of net assets between funds Unrestrlcted funds 2023 RgStrl¢ted funds 2023 Total 2023 At 31 December 2023: Investments Current assetsl(li8bilities} 17,435 183,325 17,435 294,625 111,300 200,760 111.300 312,060 18-
PEOPLE AND WORK UNIT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 20 Analysls of net assets betwoan fund8 {Continued) Unrestrlcted funds 2022 Restrlcted funds 2022 Total 2022 At 31 December 2022: Investments Current assetsl(liabilities) 19,684 123,679 19,684 159,370 35.691 143,363 35,691 179,054 21 Remuneratlon of key management personnel The remuneration of key management personnel was as follows: 2023 2022 Aggregate remuneration 22,761 44,256 19-