Company roglstratlon number 01809654 {England and Wal•sl Charfty regSstratlon number $15211 (England and Wales) PEOPLE AND WORK UNIT ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
PEOPLE AND WORK UNIT LEGAL AND ADMINISTRATIVE INFORMATION Trustees P G Walkins G J McHugh J L Huylon DJRees C 8 Vallance S C Davles {Appointed 1 Septèrnber 2025} Socretsry S Lloyd-Jones Charity number 515211 Company number 01809654 Reglstsrèd office Community Room @ Loudoun Plas lona Bute Town Cardrfr CF10 SHW Independent examiner Dorrell Oliver Ltd Linden House Monk Street Abergavenny Monmoulhshire NP7 5NF Bank•r8 HSBC Bank plc 1 Brldge Street Newport South Wales NP20 6UT
PEOPLE AND WORK UNIT CONTENTS Page Trustees, report Independent examiner'$ pOrt Slatament of financial activities 10 Balance sheet 11 Notes lo tho financial stslements 12-20
PEOPLE AND WORK UNIT TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2025 This has been an intergsling year. People and rk is faung L*ange in a number of fundamental ways and 2025 saw the Trustees working on h¢)w we are to go forward. For 8 couple of years we havè been supporting a group of employees lo develop their own, independent charity, Generation Rhondda Ihtt s.'Il eneraliDnrhondda.or .ukl ,and in 2025 il launched fully with all staff leaving our employment by September 2025. This has seen us both wind down our current community based work and build a focus on developing a new F)rogramme of work. We are still working in Rhondda, both in supporting Goneralion Rhondda and through our own PIAS programme Isee below) bul we are busy leaming the lessons from our nearly 10 years tsf working wrth Rhondda eommunities and looking at how we work elsewhere. Our resèarch and evaluation work has continued lo provide valuable insights for both the public and voluntary sectors. Vve see our role as bridging the gap between communities and knowledge generation through Ihe way we draw on insights from our research work lo help shape the work we clo with communities. In 2024 our communty programme lead retired and. b8cause we were preparing the group in Rhondda for independence, we deliberately did not replace him. His role had been to be on the ground in the community, guiding and mentoring the local team. ensuring that a programme of support for the community was delivered, helping identify leadership capacity and eneouraging ideas al change. He was mentor, manager and developer and, because we have always earned income through our Tesearch and evaluatson work, we have been able lo undèrpin the role financially. Our Director, Sarah Lloyd-Jones. is stepping back and so we are also ItX)king 8t new ways to develop the ehanty and cr&ate new work. We hope lo appoint a new organisational lead in 2026 to build our work going fthward. using the learning of the last 41 years and the changing needs of communities lo shape a whole new programme. However, our earned income has taken a hit in 2025 from the cutbacks in public funding and is unlikdy to recover in 2026 with the hiatus that wll occur with Welsh Government election5 and the formation of a new govemmenl. So, we are unsure whether we will be able to recruit a new organisalional lead in 2026 or'tread w8ler' until we are in a better posib'on financialty. The finandal ststemenls have been prepared in accordance with the accounting policies set out in note 1 to the finaneial statements and comply with the Charity's Mgmorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities.. Stslemenl of Recommended Practice appli¢able lo charitieg preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)" leffeclive 1 January 2019}. Objectives and actlvltles The charity's objects are the aclv8ncement of education by carrying OLrt 8ndlor assisting in carrying out research and study into SOC4al and economic problems for the benefit of the general public.. additionally, lo prorT¥)le education in 011 matters related lo community organisalions. People and Work seeks to make a drfference Ihrough fv40 tore functions.. lo promote the value of education and Igaming (for all age groups) as a 1091 for taekling inèqualities and promoting employment. through a programme of community-based action research projects., an lo undertake commissioned Tesearch and evaluation work lor the public and third sectors in Wale8 addressing inequalitles in areas such as educatlon Iform81 and irbformall, health and employment. People and Work's self-generated action research work is funded through charitable trusts and funds. Earn8d income comes from commissioned research and evaluation work done for the public and voluntary sectors. Any surplus earned throh the research and evaluation ¢onlracts goes into action research work that aims lo build understanding of effeclNe ways lo tackle the causes and effects of povety, esp8cially in relation lo education, health and employment outcomes.
PEOPLE AND WORK UNIT TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Achlgvgments and porfomian¢g SignifiGanl actwities and achi8vem8nls against obpctives Cenhedlagth Rhondda Generation People an4 Work ¢onlinued lo support a group of Rhondda residents as thgy developecl a new charity, called Generation Rhondda, focused on developing wellbeing across the Rhondda Vall8ys. The group bècame fully independent of People and Worto in the Autumn of 2025 bul we continue lo maintain dose links though monthly cross-team meetings ar¢d provision of evaluation and mentoring SUPPOrt. They have largely continued the Work thay stsrted wlh People and Work and below we report on the work the team did before they left.. Employment support Providing bespoke and groups SUPPDrt into employment. 1112 individuals were supported with no-crileria to access support. pa'C1panlS reported increased confidence and job-readiness and tailored support helpèd worf(ers Iransilioning after major redundanaes. Also started lo work in h9O15 lo widen young people's aspirations and soft Readlng Rhondda A family based programme lo support caro givers to read wilh their childrèn. the project worked with schools In Rhondda and an average of 70+ families attended weekly. The children show greater enjoyment of lit0cY and improved behaviour and care givers improved confidence in supportin9 leaining and school engagement. The projed made books accessible IhTough free books and communty library boxes. There has been a successfjJl transition lo school-led delivery models for the long-temi. Wlld Play A development of Reading Rhondda that tskes learning outdoors with families enjoying and reading about rure. Rhondda Dlgldol This work was about bridging Ihs digital gap for pepe vtho donl have the resources, confidenc& or knowledge lo use digital tools. 11 s8eks to build confidence for emailing, online Services, and slaying safe online. The proyramme has given out 170+ Free SIMS pre-loaded with data and 50+ devices have been loaned out lo reduced data povety. Older adults have been supported lo reduce loneliness through irnproved communication. Coding dubs have improved di9ilal confidence for teenagers and over 1175 individuals provided with bespoke support. Communlty Work has been done to strengthen local organisations through resource sharing, linkiThJ local peop, groups. and services and helping community groups securo fun¢Jing and develop ideas. The group have 30+ partnerships and contacts with 1 OOOh of Rhondda s¢hools. Links with politicians have helped highlight strudural issues. In addition an average 01169 ¢hildren per week given free sports sessions
PEOPLE AND WORK UNIT TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2025 PIAS Lles The key theme of PIAS Ues IS to encourage communty activism to tackle climate change., Support the heahh and wellbeing of our communities through the provision of activities and the equipmentlclolhing needed to take part", and then supporting volunteers In order for these groups lo be self-sufficient. In the third year of the project Ilhere is NatlDnal Lottery Community Funding for this programme from Fèbraury 2023 20271, PIAS Llès used ils experiences ol the first years lo provide a wider foundation across Rhondda to achievè thè aims and oblectives of the project. The focus over the last year has been on building a strong foundation for the delivery and support of health and wellbeing adivities in and around Rhondda. Thls has been done through our own events, events developed in conjunction wth others and by using local practitioners to deliver sessions all in a bid to ensure that delivery is sustainabl8 and reflective of loeal capabilities. We éivfrrsified our provision as a result of focusing work on 'Wellbeing in Nature, and also through active consultation as a result of our Festival of Wellbeing in January 2025 as well as continuing to deliver swrts and fitness activities. Our delivery of pop-up shops ha8 become refined, and we now have a system in place which is established and effective. Key Hlghllghts We havé eonlinued to tske donatSons of sports kit and equipment, divgrting over 1800 i18ms from landfill over the last year We have re-distributed over 2c0 items lo thosè in need, either lor free or al very low cost We have increa$e¢J our engagement Imth adults by over 180 people We have increased ¢JJr engagement with children by 385 Launch of Women in the Wld in April 2025 Launch of Sauna & Campfire events in July 2025 Established Swansea University and Manage Money Wales as regulai Pop-up locations Supported organlsatlons with set-up, funding and delivery including: Friends of Tyla Ga, PDnlypridd Foodbank. Ruby Katz CeramiGs, Mor a Sawna, Move loga & Decode Energy, Mind Over Mountain Delivering an online provision each month Goal Settlng for Wellbeln SLEEP THE BENEFITS OF SOCI&L CONNECTION
PEOPLE AND WORK UNIT TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 ' V•1 W8 continued to us8 a 'pay as you feel, apprt)ach lo selling donated sports equipment (minimum donaion £2 per ileml, which had great results and, as hoped for. some people gave more. while others gave less. We have 8lso started uealing 'bundles' and advert15ing on Facebook in a bid to support local groups. schools and organisations with u5efvl equipment bundled together e.g. f¢X)tballs. eones. training bibs & water bottle holders for £10, this has Wgrked well so far. We have generalgd £3272 over the past year. 1th has been used for the ongoing support and delivery of aclivi118S. Health & Wellbelng Actlvltles Throughoul Ihg year PIAS Lles has established a ¢ore delivery programme.. Monday running group {beginner51experieneed runners, Clydach Vale Athletics Track) Tuesday walking group Ihyper-local, always in YnyshiilPorth, more than 4 miles} Wednesday walklng group {locallons charrfJe weekly. distance varies from 3 -6 miles) Happy Feet monthly Saturday walking gfOUP {locatlons change, minlmum of 8 miles) Strength & B81ance classes (Tuesdays & Fridays resistance and training fr)r over 60s)
PEOPLE AND WORK UNIT TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 These activities consisl8nlly engage with over 80 people monthly, and the walking groups 8re run by 5 voluntèers. Our provisior) for 2025 was devoloped with 180ining from the Festival of Wellbeing, community consullalion and previous experience.. Imnler Wamier Cooking Classes Wld Play & finy Trekkers - outdoor, nalure-ba8ed family sessions were developed in collaboration with Camien from Reading Rhondda and then Generation Rhondda. Teens Wild Play - over the Summor Holidays w8 collaborated with Pentre Legion and Treor¢hy Library lo provide outdoor wellbeing sessions for teenagers. Chess Club-Ihi$ Session Is now njn by those play Chess al Penlre Legion on Tues(lays. S8asonal Wreath Making Target Time clay pigeon shooting activ'ty. The feedback from the 10 people which attended yw8S fantaslic. and we will run this session again this year. Women In the Wild {WTW) - this evolved from the Wild Play sessions, where Mums asked il they could have a similar activity run for thèm, which directly linked in with our learning from Wellbeing in Nature. Partiopanls expressed further interest in other, similar aclivits"es, and 'S8una & Campfire, and 'Relre8110 the Wild, were developed from this.
PEOPLE AND WORK UNIT TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Couch to 5km Challenge- a number of people requested support to improve their iunnin9 in a structured way, and 15 new people signed up lo our Couch to 5km challenge In September alongside our regular Monday runners. We will repeal this in 2026. James Watts-Rees conlinued to provide swrts activities for up to 169 children per week. We partnered with Natasha Owens 2nd Carmen Todd-Jones. both employed by People and Work, lo support delivery of Wld Play, Tiny Trekkers and Women in the Vlfild. During this period of joint worf(ing we reached over 216 children. Carmen then developed the concept of Wild Play into an independent enlily and now does a fanla$li¢ job of delivering forest school adivits.es throughout Rhonck*a as part of Generation Rhondda. Evaluation and Res•areh People and Work seeks lo work with the community, public and voluntsry sectors lo provide evaluation and research that can help lo improve lives. We focus on qualilalive wotk that meets with thè charity's overall objectives and are committed to work that enable5 clients to develop Iheirwork to support people as effectively as possible. In 2025 this included work on som8 major Welsh Govemment polici88, such as a recent evaluation of the Young Person's Guarantee, an evaluation of the Autism Code of Practice and research into Child Development measures, This work provides around half of our income and means we have usually been able lo cover the core and evelopmenl costs of the charity ourselves. It also enhances our learning and how we can share this with communities. We have also conlinued the evalualion of the Invest Local programme run by Building Communities Twst - and of Meddwl Ymlaen - a five year programme lo develop improved support for mental health with young people in Gwynedd and Ynys Mon run by Barnardos. We have undertaken wort for GISDA in Gwynedd lo support youn9 people into employment and completed an evaluation of Hawlio Heddwch, a programme to lebrate the centenary of a Welsh women's peace petltion for Academi Heddwch Cymru. We also Completed an evaluation of the Swansea. Neath Port Ta1bot community advise network ISNPTCAN} and of community development programme run by Trivallis HousingAssociatM. A core grant from Global Charities Make Som8 Noise has enabled the research 18arn lo $p&nd Some timg exploring effective models ofworking with community groups lo develop meaningful evaluations they can use.
PEOPLE AND WORK UNIT TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Flnanclal revlew The results for People and Work are as shown in the Statement of Financial Activtties. The trustees have reviewed the GhaTity'8 neèd for serveS in line with guidanc8 issued by the Charity Commission. A policy has been established whereby the unreslried funds not committed or invested in tangible fixed assets (free reserves) should be between two and three months unrestricted expenditure. Al this level, the trustees feel they would be able lo onlinue the Current activities of the charity in the èvent of a signtheant delay In funding. The policy is revlewed annually against current commitments ReseThes policy A policy has been •slablished whereby the unreslricled funds nol committed or invested in tangible fixed assets (free reserves) should be between and three months unrestricted 8XPgndilure. At this 18V81, th8 trusl88s fe they would be able lo continue the current activities of the charity in the event of a signfficanl delay in funding. The policy is reviewed annually against current commitments. M8jorrisks The Trustees have assessed the major rlsk8 to whlch the Charity is exposed, and are satisfied that systems are in place lo mitigate exposure to the major risks. structure. governancg and rnaTragement The Charity is a company limited by guarantee and does not have any share capital. The Trustee5, who are also the dirodots for the purpose of company law, and who served during the yeaf and up to the dale of sign81u of the financial statements were.. P G Walkins G J McHugh J L Huyton DJRees C B Vallance S C Davies Dr C Stsphocleous {Appolnted 1 SepteMr 20251 (Resigned 7 October 20251 Recwilment 8nd 8ppointm&n¢ oftnJs¢eés Unless otheise determined by a General Meeting, the numbers of the member8 of the Goveming Body shall not be fewer than six or more than thirty. The Governing Body shall from time to lime appoint a member d Ihg Governing Body. either to fill a casual vacancy or by way of addition lo the Governing Body, provid8d that the prescribed maximum is not thereby exceeded. Any member so ap'nled shall retain Iheir office until the next Annual General Meéting, bul he or she shall then be eligible for r&election. None of the Iruslees has any beneficial Interest in Ihe company. All of the trustees are membefs of the company and guarantee lo contribute £1 in the event of a winding up. OoniS81nl structure Dr Duncan Holtom heads up the research t8am working with Rh¢xlri Bowen. senior researcher. and Emma Preece. Natasha 8umell leads on the PIAS and PIAS Lles work. Sarah Lloyd-Jon8S is the director and Company Secretary Ann Churcher is the administrator. Relationship wilh related p8rties Thgrg arg no r8lated parties.
PEOPLE AND WORK UNIT TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Thfr Tru5te05' roPQrt Was approved by the Board ofTruslw. G J McHugh Trustee 3 June 2026
PEOPLE AND WORK UNIT INDEPENDENT EXANIINER'S REPORT TO THE TRUSTEES OF PEOPLE AND WORK UNIT I report on the fmanrial statements of thè Charity for the year ended 31 December 2025, which are sel out on pages 10 10 20. Rgspectlve responslbllltles of Truste08 and examlner The Charity's Trustees, who are 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 Ilhe 2011 Act) and that an independent examination is needed. The charity's gross income exceeded £250,000 and l am qualified to undertake the examination being a qualified member of the Inslilute of Chartered Accountants in England and Wales. Having satisfied myself that the tharily is not subject lo audit under company law and is eligible for independent examination, il is my respor)sibility to: examine the financial slalements under section 145 of the 2011 Act., lill to follow the procedures laid down in the general Dire¢tions given by the Chanty Commission under sèction 14515llbl of the 2011 Act., and lili) to siale whether particular mattgr$ hav& come to my attention. Basb of independent examlnerfs report Independont ox4min•rfs statement In connection with my 6xaminalion, no matter has come lo my attention.. {al whith gives me reasonable cause lo believe that in any material respect the requlrèments.. lo keep accounting records in accordance with sectlon 386 of the Companies AGt 2006,. and lill lo prepare financial slalement$ which accord wlh the accounting records, comply with the accounting qu1mentS of secb'on 396 of the Comp£nies Act 2006 and with the methods and principles of the Statement of Recommended Praetice: Accounting and Reporting by Charities", havg not been mel or Ibl lo which. in my opinion. attention should be drawn in order to enable a proper understanding of finanual statements to be reached. PELeaFCA Dorrell Oliver Ltd Chartered Accountant Linden House Monk Street Abergavenny Monmouthshire NP7 SNF Dated-. 3 June 2026
PEOPLE AND WORK UNIT STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNn FOR THE YEAR ENDED 31 DECEMBER 2025 UnrestrScted Restrfctgd fund8 funds 2025 2025 Total Unre5trictsd Restricted funds funds 2024 2024 Total 2025 2024 Note$ Income and endowments from.. Donations and legaci8S Charitable activbtles Investments Other income 98,638 98,638 143.627 9,352 3.838 277,830 277,830 166,708 7,924 4,586 143,627 9,352 166,708 7,924 3,838 4.586 Totsl Income 152,979 102.476 255,455 174.632 282.416 457,048 Expenditure on- Charitable activities 204,835 134.383 339,218 204.168 309.383 513,551 Totsl &xpendltur• 204,835 134,383 339,218 204.168 309,383 513,551 Nel gainslllossesl on investments 12 128) 1281 74 74 Net expendlture and movement in funds 151.884) {31.9071 183.791) 129.4621 {26,96n (56,429) RÈ¢oneiliation of funds: Fund balanco$ at 1 January 2025 171,298 84,333 255,631 200,760 111,300 312,060 Fund balanc•8 at 31 December 2025 119.414 52.426 171,840 171.298 84,333 255,631 The $lal8rnenl of financial aGlivitie$ inGlude$ all gains and lo$$es re91$ed in the year. All inwme and gxpondilure derive from eonlinuing 8clivilies. 10-
PEOPLE AND WORK UNIT BALANCE SHEET AS AT 31 DECEMBER 2025 2026 2024 Notès Flxed assets Investments 14 21,363 19,369 Curr•nt assets Debtors C8sh al bank and In hand 1S 25,031 135,701 43.429 205,305 160,732 248,734 Credltors: amounts falllng due wlthln one year 16 {10,2551 (12,4721 Nel curr•nt assets 150.477 236,262 Totsl assets legs current Ilabllttlgs 171,840 255,631 Thefunds ofthe Charlty Restricted income funds Unfftslricted funds 18 52,426 119,414 84,333 171,298 171,840 255,631 The company is entitled lo the exemption from the audit requirement contained in section 477 of the Companies Act 2006. for the year ended 31 December 2025. The Trustees, acknowledge thèir respon3ibllilles for ensuring that the charity keeps a¢nn9 reeords which comply wth section 386 of Ihe Ad and for preparing accounts which give a true and fair view of the slate of 8ffairs the company as at the and of thè financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance wlh the requirements of sections 394 and 395 and which otherwise comply wlh the requirements of the Companies Act 2006 relating lo accounts, so far as applicable to the Company. The members have not requiTed the Gompany to obtsin an audit of its finanThal statements for the year in question in aGGordance th section 476. These financial ststements have been prepared in accordancg with the provlsions applicable to ccfflpanies subject to the small LL)mpanies regime. The financial ststements were approved by the Trustees on June 20 GJMCH Trustee 11
PEOPLE AND WORK UNIT NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accounting policies Charlty Infomiatlon People and Work Unil is a private company limf(ed by guarantee incorporaed in England and Wales. The registered office is Community Room @ Loudoun. Plas lona, Bule Town, Cardiff, CF10 5HW. 1.1 Accountlng conventlon The financial stslemenls have b@8n prèpared in accordance wlth the Charills governing document, the Cornpanies Act 2006, FRS 102 'The Financial Reporting Stsndard applicable in the UK and Republic ol Ireland" and the Charities SORP "Accounting and Reporting by Charities.. Statement of Re¢ommended Pracli¢g applicable to charities preparing their accounts In accordance with the Financial Reporting Stsndard applicable in the UK and Republ of Ireland IFRS 102). The Charity is a Public Benefit Entity as defined by FRS102 The Charity has taken advantage of the provi5ion5 in th8 SORP for charities not to prepare a statement of ash flows. The financial statements are propared in sterling. vthich is the fvnctional currency of the Charity. Monetsry amounts in these fin8nci31 ststements are round8d 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 concem Al the lime of approving the financial slalementS, the Trustees have a reasonable expectation that the Charity has adequate resources lo continue in operalDnal existence for the foreseeable fuluie. Thus the Ttuslees continue lo adopt the going concem b8sls ol accounting In preparlng the )Inandal statements. 1.3 Charitable funds Unrestricted funds are available lor use at the discretion of the Trustees in furtherance of their charitable objectives. Rèstricted funds are subject lo Specif conditions by donors or grantors as 1¢ how they may be used. The purposes and uses of the restricted funds are sel out In the notes lo the financial slatemenls. 1.4 Incomlng resources Income is recognised when the Charity is legally enlilled to il after 8ny perfornian conditions have been mel, the amounts can be measured reliably, and il is probable that income will be received. 1.5 Resourcès expondod Direct charitable expenditure includes all expenditure diredy related to the objects of the charity- Costs have been apportioned as a percentage of project wsls in line with the grant conditions. saaries have been apportioned on a lime baws. 1.6 Tanglble fixed a$sets Tangible fixed assets are initially measured al st and subsequenlly mea84Jred al cost or valuallon. net ol depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over thelr u$eful lives on the following bases.. Plant and equiprnent 2S% Straight line 12-
PEOPLE AND WORK UNIT NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Accounting pollcles {Contlnuedl 1.7 Fixèd assèt invèstmènts Fixed asset investments are initially measured at transa¢tion pre excluding transaction costs, and are subsequently measured al fair value al each reporting dale. Changes in fair value are recognised in nèt incomellexpenditurel for the year. Transaction costs are eXnSed 8s incurred. 1.8 Cash and cash èqulvalents Cash and CAsh equivalents include cash in hand, deposits hekl at call wth banks, other short-term liquid IllV8Stments with original maturities of thrae months ¢y less. 1.9 Flnanclal Instruments The Charity has elected lo apply Ihg provisions of seCtn 11 '8asic Finanaal Instruments, and S¢ction 12 'other Financial Instruments Issues. of FRS 102 to all of rts financial instruments. Financi81 Instfumenls are recognised in the Charlty'8 balance Sheet when the Charity becomes paty lo the contractual provlslons of the instrument. Financial assets and lia1litieS are offset, wlh the net amounts presented in the financial statements, when there is a legally enforeeable right to set off the recognised amounts and there is an intention to settle on nel basis or lo realise the asset and settle the Ilability 8imullaneously. Baslc fina114$5•ts Basic financial assets, which include debtor8 and cash and bank balances, are inillally measured at tran$artn price . Financial assets classified as receivable wthin one year are not amortised. Basic financlal Ilabllltl•s Basic financial liabilili&s, induding creditors are reeognised at tra#¢t10Th price. Financial liabilities classified as payable within one year are not amortised. Trade editorS arg obligations lo pay for goods or services that have been acquired in the ordinary course of operations fr¢m Suppliers. Amounts payable are classified 8s current liabilities if payment is due within one year or less. Derncognltlon of financial liabfflities Financial liabllilie$ are derecognised when the Charity's conlraclual cbligations expir8 Qr arg discharggd or ncelled. 1.10 Employee benetits Th8 Cost of any unused holiday &nbllement is recognised in the period in whieh the employeè'5 Services are received. Temilnation beneffts are recognised immediately as an 8xwnse when the Charity is d8monslrably committed to t8rminate ihe employment of an employee or lo provide temination beneffts. 1.11 Retlrement bènefits Payments to defined wnlribulion retirement benefit schemes are charged 88 an expense as Ihey fall due. 13-
PEOPLEAND WORK UNIT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Crltical accountlng estlmates and ludgem¢nt5 In the application of the Charitys accounting pollcies. the Trustees are required to make judgements, eslirnates and assumptions about the Garrying amount of assets and liabilities that are not readily apparent from olh&r sourc8s. Th8 851imales 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 underfying assumptions ére revlewed on an ongoing basis. Revislons to acc¢unting eslirnales are recognised in Ihe period in which the estimate is revised whère the revision affects cnly that period. or in the period of the revision and lulure perths where the revision affects both current and future P8riods. Grant Income 2026 2024 Grants receivable 98,638 277,830 Grants recelvable for core actlvltSe5 The Rank Foundation Interlink Pen y Cymoedd Shared Prosper Fund Global Charities Spectrum National Lottery Community Fund Moondance Foundation WalerloD Foundation 26,580 2,000 58.306 39,861 31,277 500 78,299 35,000 8,007 Seo 29,583 8,000 60.495 98,638 277,830 Charltablg actlvititss 2026 2924 Research income 143.627 166,708 14-
PEOPLE AND WORK UNIT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Ineome from Investments Unrestrlcted Unrestrlcted funds funds 2025 2024 Interest r8c8ivabl8 9,352 7,924 Expenditure on charitsble activities Funded Research Actlon and Research Evaluatlon 2025 2025 Total Funded Research Actlon and Research Evaluation 2024 2024 Totsi 2025 2024 Direct costs Stsff co8ls Research Project costs Actlvity and tr8ining Printing, ststionery atKI advertising Telephone 96,824 149,851 12,413 246.475 12,413 26,037 263,640 154,438 18,105 418,078 16,105 27,798 2,183 26.037 636 27.798 148 2.183 37 1,128 5,582 30 2,109 3,780 t,435 37 1,828 8,176 30 3,068 7,805 4,045 1.068 1.183 3,816 126 1.055 4,500 6,116 1.040 916 3,729 597 1.428 4.188 1.875 2,106 2,099 7,$45 723 2,481 8,686 7,791 700 2.594 Sundrle8 Insurance Rent Travel expènses Interpreters and translator8 Equipment Books and subs Administratie¢s 959 3,825 2,610 11,876 1,873 4,021 6,036 11,876 2,271 4,021 6,036 4.293 194 4.223 5.914 4,293 277 4,223 5,914 398 83 134,383 200,319 334,702 309,383 200,919 510,302 Share of support and governance costs Isoe note 8) Support 2,082 Govemance 2.434 2,082 2,434 816 2,433 816 2.433 134,383 204,835 339,218 309,383 204,168 513,551 Analysls by fund Unréstricted fiJnds Restricted fur¢ds 204,835 204.835 134.383 204,168 204,168 309,383 134,383 3rig,383 134,383 204,835 339,218 309,383 204,168 513,551 15-
PEOPLEAND WORK UNIT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 Dgscrlptlon of charltsble activities Funded Aelign Research - Supporting people in education and skills programmes. Commissioned Research and Evaluation- Evaluating and researching as commissioned. Support costs allocated to actl¥itio8 2025 2024 2.082 2.434 816 2,433 Governance costs 4.516 3,249 Analy$e(I between: Research and Evaluation 4,516 3,249 Net movoment In funds 2025 2024 The net movement in funds is stated after eharginglleredfting).. Fee5 payable for the independent examlnalion of the charity's financial statements 2.434 2,433 10 Trusteès None of the Trustees (or any persons connected with them) received any remuneration or benefits frryn the Charity during the year. 18-
PEOPLE AND WORK UNIT NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 11 Employaes Number of employees Th8 averag• monthly number of employees during the year was.. 2025 Number 2024 Number Project Research 11 15 Employment costs 2025 2024 Wages and salaries Soual security costs Other pension costs 207,729 13,260 25,486 349,465 28.679 39,934 246,475 418,078 The were no M0Ye0S whose annual remuneration was £60,000 or more. 12 Net gainslllossesl on Investmonts Unrestrieted Unrestrlcted funds funds 2025 2024 Revaluation of investments 1281 74 13 Taxatlon The charity is exempt from taxation on ils activities because all ils income is 8pplied for charitable wrposes. 17-
PEOPLE AND WORK UNIT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEAIBER 2025 14 Fixed a¥$•t Inv•8tments Listed Investments Cost or valuatlon At 1 January 2025 & 31 December 2025 19.389 Carrying amount Al 31 Dember2D25 19,369 At 31 December 2024 19,369 15 Debto 2025 2024 Amounts falllng du• wlthln on• y•ar: Trade debtors 25,031 43,429 16 Credltors: amounts falllng due wlthln one yr 2025 2024 Accruals and deferred income 10,255 12,472 17 Ret1ment benefft schemes 2025 2024 Defined contribution s¢heme$ Charge lo profil or los$ in respect of defined Contribution schemes 25,466 39,934 The Charity OFerates a defined contribution pension scheme for all qualifying employee$. The assets of t seheme are held separately from Ihos& of the Charity in an ind8p8ndenlly administered fund. 18-
PEOPLE AND WORK UNIT NOTES TO THE FINANCIAL STATEMENTS {CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2025 18 Rostrieted funds The restrfcled funds of the ch8rty comprise of a build up of fvnds from various re$ear¢h and development projects th81 have been undertak6n ovef the last few years and is lo be used on fvrther research projects. Movem9nt In fund$ Incomlng Ro8ourc89 Balance at re8ourc88 8xpondod1 January 2026 Movèment in fund$ Incomlng Resourc88 Balance at resource¥ expended 31 Decomber 8alance at 1 January 2024 2026 Project funds 111,300 282,416 1309,383) 84,333 102,476 1134,383) 52,426 19 Unr9Strktgd funds The unrestricted fvnds ol the charty comprise the unexpended balances of tjonalions and grants whi(* are noi subject to specific conditions by donors and grantors as lo how they may be used. Thèse indude designated funds which have been set aside out of unreslricled funds by tho trustee$ for specific purposes. At 1 January 2025 Incomlng Resources resources expended Galns and Iosg&5 At31 Decèmber 2026 General fvnds 171.298 152.979 1204,8351 1281 119,414 Prnvlous year: At 1 January 2024 Incomlng Resourc•$ resources expended Galns and Ios80S At31 D•cember 2024 General fulS 200,760 174,632 1204,168) 74 171,298 20 Analysis of net assets betwaen fund$ Unrestrl¢lgd funds 2025 R•strictèd funds 2026 Totsl 2026 At 31 December 2025: Investments Current assetsl{liabilities) 21,363 31,063 21,363 150,477 119,414 119,414 52,426 171,840 19.
PEOPLE AND WORK UNIT NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025 20 Anatysi8 of not assèts between funds {Contlnu•dl Unrestrl¢ted funds 2024 Rostricted funds 2024 Totsl 2024 At 31 December 2024: Investments Current as5ets1lliabilitiesl I9,9 1 $1,929 19.369 236.262 84.333 171,298 84,333 255.631 21 Remuneration of key management p?rsonn&l The remuneration of key management personnel was as follows.. 2025 2024 Aggregate remuneration 18,792 24,Cfj4 -20-