2021-09-30-accounts

REGISTERED COMPANY NUMBER: 01830262 (England and Wales) REGISTERED CHARITY NUMBER: 515902

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

FOR

WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

Bevan Buckland LLP Chartered Accountants And Statutory Auditors Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA

WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

	Page
Report of the Chair	1
Report of the Chief Executive Officer	2
Report of the Trustees	3 to 22
Report of the Independent Auditors	23 to 25
Statement of Financial Activities	26
Balance Sheet	27
Cash Flow Statement	28
Notes to the Cash Flow Statement	29
Notes to the Financial Statements	30 to 47

WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

REPORT OF THE CHAIR FOR THE YEAR ENDED 30 SEPTEMBER 2021

Shelter Cymru has continued to have impact on policy, practice and public awareness of homelessness, as well as on individual's lives, over the course of another year framed by the pandemic.

Shelter Cymru is the expert provider of housing advice in Wales. We help people who are homeless or who lack a secure, affordable, good quality home. We provide housing advice, which is available bilingually, in every local authority across Wales. In addition to helping individuals and families in need, we strive to change the environment in which we operate and to tackle the root causes of homelessness.

Home is pivotal to our personal, social and economic lives, and the foundation of our physical and mental wellbeing. Shelter Cymru is helping more people than at any time, preventing more people from losing their homes and continuing to have a high profile with both the public and key stakeholders. The challenge is that it is still not enough: demand for our services outstrips supply.

This reinforces our focus on treating the root causes, and not just the symptoms of, the housing emergency in Wales - which impacts 1 in 3 people. We have continued to shape the debate on homelessness in Wales, most notably via our annual People and Homes conference, which this year focused on the systemic drivers of the affordability crisis.

The start of the financial year was marked by changes in our senior leadership team, with this being Ruth Power's first year as our Chief Executive Officer. We've created, and begun to deliver, our 2025 Strategy, which provides clear direction for our charitable activities. We've shown our ability to learn, adapt and grow, in the context of change and the challenges of the pandemic. This gives confidence in Shelter Cymru's resilience and is enabled by a skilled workforce, passionate about our cause.

That same resilience will stand the organisation in good stead, when my term as both a Trustee and Chair ends next year. It has been a privilege to be part of an organisation that has the impact of Shelter Cymru and I'm grateful for the support of my fellow Trustees throughout my term. The Board has high expectations for what the organisation can achieve. It's willing to ask difficult questions of itself, of Shelter Cymru and of others. I will hand over, with great confidence, to Mike Theodoulou, our Chair Designate in March 2022.

Wales presents unique opportunities for the future. There is a belief in Wales that ending homelessness is not a pipe dream but a reality that is achievable. Shelter Cymru has been instrumental in demonstrating what is possible so far. Until everyone in Wales can count on a good, secure, and genuinely affordable home, Shelter Cymru's work is not done. It will continue to stand alongside people in housing need. And I will be proud to remain a supporter of Shelter Cymru.

Shayne Hembrow

Chair of the Board of Trustees

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

REPORT OF THE CHIEF EXECUTIVE OFFICER FOR THE YEAR ENDED 30 SEPTEMBER 2021

My first year as CEO of Shelter Cymru brought a growing understanding of scale and longevity of the pandemic's impact on how we all live, work and/or access services; and on our wellbeing. In this context, establishing our 2025 Strategy, in consultation with staff and guided by our board, has been a key achievement this year. It charts a clear direction of travel for us, and our supporters, in changing and challenging times and we have started the journey to deliver this Strategy.

During the year, Shelter Cymru continued to show resilience in the face of the pandemic - adapting and maintaining service delivery, ensuring Covid-secure ways of working and attending to staff wellbeing. Robust financial management and unprecedented fundraising performance has stood us in good stead. Vital support from the Welsh Government, trusts, foundations and corporate partners, and the generous support of individuals across Wales, enabled us to continue to pursue our charitable aims.

But we have faced challenges. For example, our Legal Aid income has suffered due to the problems of securing necessary documentation from people who dealing with traumatic life events, and who are frequently advised remotely. Late in the year, we were impacted by the 'great resignation'. Whilst we consider our position in an increasingly competitive market, we have initiated our Pathways project to provide in-depth housing law training to volunteers, who will be well-positioned to apply for our future vacancies. Notably, both the volunteers joining this project and wider recruitment have enabled us to increase the diversity of our workforce, and bring new voices of lived experience to inform our work.

During the last year, house prices and private rents have risen faster in Wales than anywhere in the UK. Homelessness has not just persisted, it's a growth area. In part this reflects the welcome, more inclusive, Welsh Government approach to addressing homelessness since the pandemic - bringing rough sleeping and sofa surfing out of the shadows and giving a truer picture of the scale of homelessness. However, the pandemic has increased pressures on people who lack security of income or tenure; have strained or unsafe relationships; or are simply over-crowded. These factors, plus an over-heated property market, are amongst the factors that have driven people into homelessness in unprecedented numbers across Wales.

Our activities to prevent homelessness included successfully lobbying the Welsh Government to both maintain notice periods at 6 months and to commit to more progressive homelessness legislation; promoting good practice in homelessness prevention education for young people across Wales; and publishing a well-received model for ending evictions from social housing. We appreciate the support of social landlords and partners in devising, promoting and, increasingly, joining the journey of implementing the latter homelessness prevention model across Wales.

We've welcomed the cross-party ambition to address housing need in Wales. We campaigned, with success, to secure ambitious commitments to build social homes in manifestos for the Senedd elections. We were invited to join a new board advising Julie James MS, the Welsh Government minister responsible for ending homelessness in Wales. With partners Tai Pawb and the Chartered Institute of Housing (Wales), we've recently secured a commitment to a White Paper to include proposals for a long-lobbied for right to adequate housing in Wales, and measures on affordability.

But our litmus test is what happens day to day - do people facing homelessness or living in poor housing consistently say that when they needed help, they got it? Does we all have the chance to live in a good, safe and genuinely affordable home? Shelter Cymru's business model, of helping people in housing need and using that intelligence to inform our policy and campaigning work, is key. It gives visibility and voice to the day to day realities that people face, and helps us shape solutions.

Shelter Cymru's achievements are the product of collaboration and partnership: our skilled and committed team of staff, Trustees and volunteers; and our loyal funders and supporters who variously enable, and add their voices to, our Fight for Home in Wales. My thanks to you all.

Ruth Power Chief Executive Officer

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2021

OBJECTIVES AND ACTIVITIES

The Charity's governing document sets out its purposes as follows:

The Charity's Objects are specifically restricted to the following:

1. [Purpose] To alleviate suffering and hardship caused by homelessness, poor housing conditions and poverty.

2. [Beneficiaries] Any person seeking the charity's help or assistance, regardless of gender, race or ethnic background.

The main activities the charity undertakes in relation to these objects are:

1. We provide free, independent, expert face-to-face, online or telephone housing advice - to anyone who needs it.

2. Through our campaigning work we aim to tackle the root causes of homelessness and bad housing across Wales.

3. Through our research and policy work we influence the legislative agenda relating to housing and homelessness in Wale

4. We deliver quality training that enables others to provide better services to prevent homelessness.

5. We work with young people and professionals working with young people, providing detailed teaching and learning resources.

Shelter Cymru's vision is that everyone in Wales should have a decent and affordable home: it is the foundation for the health and wellbeing of people and communities.

Our mission is to improve people's lives through advice and support services and through training, education and information work. Through our policy, research, campaigning and lobbying, we will help overcome the barriers that stand in the way of people in Wales having a decent affordable home.

Our values are to:

• Be independent and not compromised in any aspect of our work with people in housing need.

• Work as equals with people in housing need, respect their needs and help them take control of their own lives.

• Constructively challenge to ensure people are properly assisted and to improve good practice.

Our 2025 Strategy focuses on our fight for the right to a secure, affordable and good quality home. We have three strategic priorities:

1. Help more people to find long term solutions

We want to help more people experiencing or facing homelessness, or living in unsuitable homes, to find long term solutions to the problems they face; and to gather quality data to continuously improve, and tackle the root causes that drive demand for, our services.

2. Fight for good homes

• A 'good home' is secure, affordable and of good quality. We want a society where people who need support to find and sustain a home, get the help they need, when they need it. We want an end to homelessness and the fear of homelessness. Our policy, research, campaigning and lobbying will focus on the drivers of need, evidenced by our casework, and underpinned by recognition of home, as the foundation of people's personal, social and economic lives and their health and wellbeing.

3. Build our resilience and capacity

• We want to build a resilient and sustainable organisation that is continually learning and adapting to a changing environment; where our staff, and the people we exist to serve, feel valued and empowered.

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2021

We measure the number of households advised and the number of cases where homelessness is prevented; also the degree to which the help and support provided has given people the tools and knowledge to address future problems themselves. During the course of the year, we monitored measures based on what matters to beneficiaries, such as whether staff did what they said they would do. We also monitor the impact of our research and policy work on changing practice, regulation and legislation and the degree to which other organisations and decision-makers reflect the positions we support. In addition, to ensure that there is a growing public awareness of the Charity and its work and key messages, the reach and impact of our media and social media activity is also monitored.

The Finance and Audit Sub-committee reviews value for money measures. The effectiveness of our fundraising is measured by returns on investment and net income raised as well as its contribution to raising the profile of the organisation and its work. In addition, it contributes to building the reputation of the Charity by ensuring compliance with all appropriate ethical and regulatory requirements.

We have a variety of mechanisms through which we engage with our staff individually and collectively to receive their feedback, such as regular meetings, supervision, ad hoc polls and exit questionnaires. Following a pause during the pandemic, we will reinstate our annual staff survey in 2022.

Highlights for 2020-21 include:

• 17,215 people helped by our advice and support services making up 10,226 households.

• The total people helped included 5,633 dependent children.

• 36% growth in the number of households using Shelter Cymru services since the launch of our last strategy in 2014.

• 61% of all households helped were facing or actually experiencing homelessness.

• 43% of all cases involved tenants from the private rented sector.

• 15% of people using our services were aged between 16 and 24 years old.

• 422,245 unique visits to our Advice on Line service.

• Homelessness prevented in 90% of relevant face to face advice cases where the outcome was known.

• 89% of households helped to better able to deal with their affairs in the future.

• 98% of users satisfied or very satisfied with the face to face advice service.

• 459 households helped by our debt advice services in Bridgend, Carmarthenshire, Gwynedd and Swansea and 148 prisoners advised on housing, homelessness and welfare benefits in HMPs Altcourse, Berwyn and Styal, with an emphasis on homelessness prevention.

• Intensive work with almost 101 households using our north Wales floating support services.

• Training over 50 organisations and over 2,000 delegates, with 97% of delegates rating training as excellent or good.

• Gross fundraised income grew by over 28% on the previous financial year to £1,074,532, accounting for 25% of the Charity's total income.

• 3,854 regular donors and campaign supporters at year end.

• A successful campaign to make ambitious social housebuilding targets feature in election manifestos.

• Working with social landlords to develop good practice on how to eliminate evictions into homelessness, including publication of a detailed good practice guide.

• Establishing our rural Housing First Project in Gwynedd supporting people with complex needs to move from street to settled home.

• Launching our Young Person's Portal and expanding our Advice Online information pages to include a range of digital self-help resources.

• Starting work on a Tech for Good funded project to develop a tailored advice tool on our website.

• Development by our Take Notice Project of the 'In This Together' Toolkit for Local Authorities.

• Persuading the Welsh Government not to reduce eviction notice periods - helping to prevent homelessness at a critical time during the pandemic.

• Investment in IT and Telephony systems to support remote / hybrid working.

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2021

Working in collaboration

Shelter Cymru is committed to work in collaboration and partnership with other organisations where mutual objectives are identified. This can be developing and delivering services to people in housing need, or research, policy and lobbying work or where resources, expertise and information can be shared to enhance organisational effectiveness. In 2020/21 new or continuing collaborative work was undertaken with partners, including the following:

Bridgend CBC Carmarthen CC Chartered Institute of Housing Cymru Citizens Advice Cymru Clwyd Alyn Housing Association Conwy CBC Community Housing Cymru Crisis Cymorth Cymru Gwynedd CC HMCTS HMPPS Legal Aid Agency Llamau Local Authority Homelessness Network Ministry of Justice Rent Smart Wales Shelter Shelter Scotland Swansea CC Tai Pawb Torfaen CBC Vale of Glamorgan CC Wales and West Housing Association WLGA Ynys Mon CC

And of course, the Welsh Government which continues to be the most significant funder of our independent housing advice service, and our other funders listed below (page 17 and 18).

Shelter Cymru services and chairs Homes for All Cymru, an alliance of all-Wales housing / housing related organisations. The alliance also provides representatives to the Welsh Government's Third Sector Partnership Council and supports the Senedd's Cross-Party Housing Group. Shelter Cymru continues to provide the secretariat of the Cross Party Housing Group.

Statement of Public Benefit

Under the Charities Act 2011, charities are required to demonstrate that their aims are for the public benefit.

The two key principles that must be met in this context are, first, that there must be an identifiable benefit or benefits; and, secondly, that the benefit must be to the public, or a section of the public.

Charity Trustees must ensure that they carry out their charity's aims for the public benefit, must have regard to the Charity Commission's guidance, and must report on public benefit in their Annual Report.

Shelter Cymru's Board of Trustees regularly monitors and reviews the success of the organisation in meeting its key objectives. The Trustees confirm, in the light of the guidance, that the organisation's aims fully meet the public benefit test and that all the activities of the charity, described in this report under the strategic and corporate development goals are undertaken in pursuit of its aims.

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2021

ACHIEVEMENTS AND PERFORMANCE

Finances and service capacity

The year has seen a small increase in resources for our services working with people in housing need. Welsh Government, trust and other charitable funding has enabled us to continue to resource our advice capacity and introduce new services. During the year, we saw a decrease in our Legal Aid income due to the impacts of Covid 19. We continued to deliver services remotely, and with the support of our designated Covid Funding reserve established in 2020, we were able to maintain our income to support these services.

Whilst the pattern of demand has altered during the pandemic, demand from people in housing need for all Shelter Cymru services has remained high throughout the year. Looking forward, predicted demand is likely to continue to increase as the impact of the pandemic is felt across Wales. We will review our ways of working to ensure that we are responsive to the changing preferences of people who use our services; to ensure that efficiencies are realised; and to promote the wellbeing of front line staff.

Another successful fundraising year, continuing increased efficiencies and savings with prudent investments and financial management, means that the charity has again had a successful financial year as detailed in the financial review. The pandemic has emphasised the importance of reserves in underpinning the financial viability of charities. We have been able to prudently deploy some of our own funds to address service capacity issues, and we aim to continue to be able to invest from reserves when possible in order to contribute to our strategic aims.

Helping more people in housing need

Shelter Cymru's independent housing advice service works in every local authority area in Wales, making it the most comprehensive face to face service of its type in the UK. It provides a range of expert advice, support and advocacy to people in housing need backed by a legal team, a telephone and webchat advice service and a court duty service.

Over 17,000 people, from all parts of Wales and with a range of housing related problems, were helped during the year by Shelter Cymru's face to face advice services, projects or the Shelter Cymru Live telephone and webchat advice service. This is a 36% increase on the numbers helped in 2014 when we set out on our last strategy to make services more accessible to people who need them. Over 61% of the people helped were facing or actually experiencing homelessness.

The housing and benefit context in which our advice service operates is particularly challenging. The shortage of social housing, and the affordability of alternatives, significantly reduces housing options for people in housing need. This year, these pressures were again compounded by Covid-19 and the sharpened focus on ensuring that no-one was sleeping rough, so that everyone had a home to protect themselves and others from the spread of the virus. Our community-based teams continued to deliver by telephone from their homes, ensuring that good access to advice, support and advocacy continued, uninterrupted by the pandemic.

43% of the people who used our advice services were tenants from the private rented sector, many facing the loss of their home through landlords issuing 'no fault' eviction notices, or experiencing poor conditions or harassment. With Local Housing Allowance rates not keeping pace with rents, and with rents in the sector high, many tenants, particularly those in low paid work, struggle with arrears. Furlough, reduced hours, the need to socially isolate and job loss has also impacted significantly on many tenants' ability to meet their rent.

Given these challenges it is remarkable that in 90% of relevant cases with a known outcome, homelessness was prevented and the service as a whole continues to get very high satisfaction rates from the people using it. Shelter Cymru advice services directly and positively make a difference to people's lives.

Shelter Cymru services use a range of indicators and feedback mechanisms to assess the effectiveness of the advice and information provided. One of the key principles of Shelter Cymru services is to help people take back control of their lives by providing advice, information and guidance, so we ask people, once the case is closed, if they feel better able to tackle future problems. During the year, 89% of those responding said they felt more confident in tackling problems as a result of Shelter Cymru support.

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2021

"Your adviser was so supportive and sympathetic. She made me feel better about everything just by talking to her. It's wonderful to feel you have someone in your corner."

"All I can say is oh my goodness - at a time in my life when I was so low your adviser gave me hope."

"Your adviser has helped me out on two occasions and the work ethic and drive to get to the bottom of both cases was absolutely amazing. I can't thank you enough."

"Shelter Cymru helped me to get housed. If it weren't for Shelter Cymru, I'd be homeless."

"This was the best way of getting quick and up to date advice! Really enjoyed the conversation, clear and sure answers were exactly what I needed to hear! I am very grateful for this! Thank you!!!"

"Even though your adviser rightfully advised immediately that he wouldn't be able to offer any advice because it was a conflict of interest as I am the landlord, even though I am trying to assist tenants, he gave me excellent signposts to assist me with my query - Thank you."

"I was desperate and depressed as I am a paranoid schizophrenic and if it wasn't for the help and support that I have had from Shelter Cymru I don't know what I would have done or where I could have got help. I would just like to thank you and tell anyone who needs help get in touch with Shelter Cymru - they are the BEST!"

"The adviser I spoke to was very informative and understanding. All relevant information was sent to me in detail in an e-mail following our telephone conversation. I was then able to inform my landlord confidently. I felt much more at ease after talking to Shelter Cymru."

Although over 60% of the work of the service is with people facing or actually experiencing homelessness, there are a wide range of other housing related problems that people come to Shelter Cymru for help with. Disrepair, difficulties with landlords, overcrowding, benefit problems, arrears, and unsuitable accommodation are just some of issues that Shelter Cymru caseworkers will typically deal with. But they are also often sensitively working with people deeply traumatised by their situation. Helping people take control of the problem and where possible resolve it, makes an important contribution to the health and wellbeing of people in housing need.

The way advice and support can transform lives is clear, but more than that, the day to day work of the service exposes the drivers of homelessness, the poor policy and practice that causes problems and the impacts and trends on different groups in the community. All this is essential data for our campaigning and policy work which uses the raw material, from this daily work with people in housing need, to identify policy, practice, law and service cultures that need to be changed.

Housing advice work is an exceptionally cost-effective way of preventing homelessness and improving housing conditions. It was estimated in the 2012 University of Strathclyde 'Financial Benefits of Advice Provision' report for Citizens Advice Scotland that every £1 invested in housing advice and homelessness prevention work saves the public purse £2.34.

Not everyone seeking housing or related information needs to see or speak to an advisor, at least not initially. Shelter Cymru's Advice Online service provides a huge range of information, advice, template letters and videos on housing and benefit matters. During 2020-21, over 422,000 unique visits were made to the Advice Online webpages.

Understanding and responding to need

Being able to monitor the demography of people who use Shelter Cymru services and the reasons they seek advice and support, as well the quality of the service provided, is vital to inform future service development. It has been clear over recent years that people are presenting with more complex needs, in particular mental health problems, and the service needs to respond appropriately. In addition we have seen an increase in people under 25 years' olds seeking advice and support.

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2021

During the year, with continued support from Welsh Government, Shelter Cymru has maintained its increased telephone and webchat Shelter Cymru Live service capacity, with a particular focus on being responsive to young homeless people. A young person's positive pathways officer has maintained an online directory and a young person's portal on the Advice Online website, offering accessible and essential information and advice.

Projects

In addition to the all Wales housing advice service, Shelter Cymru has also delivered a number of projects with the aim of providing additional intensive and specialised help to people facing, or experiencing, homelessness or other housing problems.

These services tend to see clients over the longer term and rely on face to face contact. Despite the rapid move to remote working in late March 2020, the vast majority of projects have been able to continue to function effectively and to find new ways of assisting clients.

Specialist housing-related debt advice is provided in conjunction with the housing caseworker service in Bridgend, Carmarthenshire, Gwynedd and Swansea. During the year, over 459 households were helped. The total Debt and Benefits casework undertaken by all Shelter Cymru services over the year has helped clients obtain a total gain in lump sum benefits of £546,763 and £747,868 of debt has been written off.

Prison Link Cymru had a busy year, despite remote working. HMP Berwyn continued to be the main referrer. 148 clients were advised. The service now works mainly with men who upon reception into HMP Berwyn have homelessness prevention issues. The aim of the service is, through advice, information and liaison, to ensure that people entering custody are able to retain secure and affordable homes wherever possible and that if they have to give them up, this is done correctly so as not to prejudice future rehousing options. The service also continues to provide homelessness prevention and rehousing advice to women at HMP Styal, in partnership with Safer Wales. Services such as 'email a prisoner' are being utilised to assist with remote working.

Our Street Advice Cymru project continued to operate in Cardiff, Wrexham and Swansea, with a specific focus on street homeless people receiving housing rights advice and support to enable them to access and successfully retain suitable accommodation. Street Advice Cymru aims to help people into long- term secure homes by taking specialist housing advice out of the office and onto the streets. Despite the pandemic and subsequent lockdowns and the issues of maintaining contact with these clients, 90 street homeless people have been assisted by the service.

People at the heart of the Charity

The Take Notice project enables people with lived experience to inform the work of Shelter Cymru and our partners. The pandemic has continued to force us to adapt the delivery of the project and reprioritise our work with local authority homelessness teams. During the year, through joint work with the Conwy CBC Housing Options team, the group produced an 'In This Together' toolkit which highlighted the learning and challenges that homelessness teams have faced working through the pandemic and the impact that this has had on both staff wellbeing and people's access to services. This toolkit was subsequently rolled out to all Local Authorities.

At the Shelter Cymru's People and Homes Conference in early July, one TN member shared her experience of facing homelessness due to relationship breakdown during the pandemic, in the form of a short digital story and Take Notice members have continued to develop their skills and share their experiences by taking part in a varied range of housing meetings and activities.

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2021

Public campaigning and building a movement for change

This year was our first rebrand exercise in more than a decade. Working in partnership with our sister organisations Shelter and Shelter Scotland, we launched the new brand with a robust 'Fight for Home' message communicated through a press and media launch, billboards, and a digital campaign including a YouTube video that gained 74K views in English and 14K in Welsh during the first month. At the heart of the campaign was the powerful statistic that 1 in 3 people in Wales are impacted by the housing emergency - this figure, a finding of You Gov research we commissioned, has since been quoted extensively by politicians and journalists.

The rebrand has ignited our campaigning activity with a fresh focus on issues that matter to younger people, such as the affordability of homes and student housing problems, alongside our long-standing priorities on homelessness and housing need.

May 2021 saw a national election in Wales, and our public campaign to secure social housebuilding commitments in manifestos paid off. Our campaign supporters sent nearly 1,000 emails to MSs asking them to commit to build 20,000 social homes in the next Senedd term. The Labour Government's manifesto included this commitment. Post-election we have concentrated on building new relationships with incoming MSs as well as maintaining long-standing cross-party relationships.

Our social media platforms are still among the most-followed channels of all Welsh charities. On Twitter and Instagram our following has grown to 14.3K and 1.6K respectively. In the last year our Facebook reactions have grown by 26% to 7,760, and we are building our presence on TikTok to reach a younger audience.

Influencing policy and practice

Shelter Cymru has always understood that service provision will never end homelessness: we must address the underlying systemic problems that push people into homelessness and housing need must be addressed. It is vital that we understand the nature of our casework, identify trends and take action so that fewer people have to use our services in future. Through identifying the causes of homelessness and housing need we can call for change and promote alternatives to current practice, policy and law.

Our casework throws up a vast range of issues in need of action, which we prioritise:

• Scrutiny of service delivery - what does our casework tell us about the quality and effectiveness of statutory services and social housing practice and provision?

• Achieving change - which areas of change in policy and practice indicated by our casework information and research can be achieved, and will have a positive outcome for people in housing need?

• Influencing change in the longer term - how can Shelter Cymru's work and policy ideas contribute to the longer term aims of ending homelessness and improving housing conditions in Wales?

This year, we have been able to have an impact in a number of important ways:

Responding to the pandemic

We have engaged with Welsh Government officials to help shape solutions to prevent homelessness during the pandemic. We shared intelligence from our casework to ensure that officials understood the pressures that people were experiencing, and we were closely involved in shaping the Welsh Government's grant scheme to address Covid-related arrears in private rented housing.

In light of concerns that 3the Welsh Government was preparing to reduce eviction notice periods, we wrote to Ministers urging them to keep notice periods at six months. This call was successful, and at the time of writing notice periods remain at six months, a move that has given many tenants a more realistic length of time to find a new home, something that is even harder during the pandemic.

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2021

Ending homelessness

We have been represented on the informal group set up by the Welsh Government to implement the recommendations of the Homelessness Action Group: report July 2020 and the HAG's two previous reports, which Shelter Cymru helped shape. These reports contain a complete blueprint for ending homelessness in Wales, and the Welsh Government has committed to take the recommendations forward. The group was consulted by the Welsh Government as officials drafted an implementation plan. From March 2021, this group was superseded by a new cross-sector Housing Support National Advisory Board on which our CEO, Ruth Power represents Shelter Cymru.

Ending evictions into homelessness from social housing

We continue to work constructively with partners in the social housing sector to develop and share good practice on how to ensure that homelessness is never the outcome of an eviction. In March we published a report including a detailed, multi-stage model, which we have since presented at multiple forums, receiving positive feedback from the Welsh Government as well as landlords in the Welsh and English sectors.

Working to address housing affordability

During the last year house prices and private rents have risen faster in Wales than anywhere in the UK - a combination of Brexit and the pandemic inflating the rental and property markets. We have positioned ourselves as a key voice in the debate, encouraging decision-makers to take a wide view of the roots of the housing affordability emergency and not to see it as solely driven by second homes or AirBnBs. We have also promoted social cohesion by articulating how the housing emergency impacts different communities across Wales.

A key vehicle for our engagement with politicians across the spectrum is the Cross Party Group on Housing, to which we provide the secretariat. With the new Chair, we have established an ongoing programme of work to investigate solutions to housing affordability with cross party members.

Housing as a human right

We continue to work closely with Tai Pawb and the Chartered Institute of Housing on a campaign to incorporate the UN Right to Adequate Housing into Welsh law. In October, we launched a draft Bill written by Prof. Simon Hoffman of Swansea University. With our partners, we are working with Alma Economics to deliver a cost-benefit analysis in early 2022, in time to influence a recently promised White Paper on the subject.

Education, training and volunteers

Shelter Cymru's Education service continues to make an important contribution to preventing homelessness among young people and to work with the network of local authority youth homelessness prevention coordinators (YHPCs). Working alongside the YHPCs has promoted consistency in the delivery of the homelessness prevention message across Wales.

Education service achievements during the year included:

• Working alongside the 22 YHPCs across Wales

• Mapping youth homelessness prevention education across Wales

• Developing an online digital sharing platform for professionals working in youth homelessness prevention across Wales

• Reviewing and digitalising the Opening Doors Activity Pack for online, in-person or distance/home learning.

• Establishing a working relationship with and developing an accredited training course for young offenders leaving Parc Prison - courses to commence January 2022

• Virtually delivering the homelessness prevention message to young people in schools.

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2021

Shelter Cymru's training and events department make a significant contribution to the prevention of homelessness and improvement of housing experiences of people across Wales. This is achieved by the delivery of a training programme delivered on an in-house and public basis, currently by eLearning and live online. Training is delivered on all aspects of housing law and advice, benefits and debt matters; we remain the 'go to' training service for professionals across all sectors in Wales.

During the year, despite continued challenges posed by the Covid-19 pandemic, we delivered a comprehensive in-house and public training programme, and strengthened the reputation of the service. Achievements over the year include:

• Launching and running a successful online live public training programme by Zoom

• Developing and expanding the eLearning programme of training launched in the previous financial year

• Over 375 people attended live training online and in-house

• Over 1,700 people completed our eLearning courses

• Over 50 organisations represented by the people who attended training live or by eLearning

• Delivering training to over 55 our own staff via live bespoke training as well as eLearning

• 97% of delegates attending training rating it as excellent or good.

• After using our casework and research findings to secure funding to offer free training on important topics such as Unlawful Eviction and Covid-19 and Possession, developing and delivering the training which has been completed by over 1,090 people.

Events

In July we held a successful two-day annual conference digitally, which was a first for the team, attended by 177 delegates. Our keynote speakers were George Monbiot, Beth Stratford and Chloe Timperley, on Day 2 we heard a speech from the Minister in which she went public with the news that she intends to bring forward legislation to end priority need and intentionality - a cornerstone campaigning objective of ours.

In October and March we held two webinars on ending homelessness from social housing, both sponsored by the Oak Foundation. Both were well attended and led to onward work with sector partners to drive forward good practice.

We also hosted a live online panel session as part of the online Eisteddfod, to discuss the housing affordability emergency. The panelists were Jeremy Miles MS; Cefin Campbell MS; Mabli Siriol, Chair of Cymdeithas yr Iaith Gymraeg (The Welsh Language Society) and organizer of the Tryweryn Rally in July, "No to Second Homes"; Sian Lloyd Williams, Chief Executive Officer Grŵp Cynefin; and Rhys Tudur, a member of Nefyn Town Council and a prominent voice on Welsh media regarding the issue of second homes. Across all channels the debate had more than 1K views in total (and is found on YouTube here).

Volunteer work

Volunteers have always played a crucial role in Shelter Cymru's vision to prevent and to ultimately end homelessness. During 20/21, , we re-focussed our volunteer strategy, prioritising skilling up volunteers as advisers, and as potential candidates for our Housing Services' adviser vacancies, to enhance our recruitment pipeline. With the benefit of charitable funding, we established our Pathways project, which will provide our first group of trainee advisers to assist with our webchat and helpline service in 21/22.

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2021

Investing in staff

We are mindful of the increased pressures on all staff, not least our front line staff who may experience, at times, extreme stress and vicarious trauma. Shelter Cymru has adapted to changed ways of working during the pandemic which have the potential to reduce or increase stress for individuals. We will invest further in establishing reflective work practices during the coming year.

In addition to our core training offer for staff, under our staff development policy, we provided funding and time off for staff who wished to take up external training and development opportunities not normally provided as core expectations of their role. We also analysed our middle managers' training needs and initiated a development programme for this vital cohort of staff, and enhanced our staff induction.

During the year, we continued to provide staff with access to an externally provided counselling scheme as part of a wider Employee Assistance Programme, and we added considerably to our information resources signposting staff to help and support. Our Wellbeing Group, formed from staff across the organisation, also continued to operate. During the extended pandemic period, it has played an important role, in conjunction with managers, in enabling Shelter Cymru to have an ongoing dialogue with staff in respect of their wellbeing.

FINANCIAL REVIEW

Financial strategy

This year represents the first year of the Financial Strategy for 2020-23. The Financial Strategy aims to achieve long term financial stability by diversifying income, with a secure base of core services' programme funding to cover the key services and generating surpluses; through general fundraising and contract income to invest in core services where full cost recovery cannot be achieved; through ensuring efficient use of resources; and to maintain and increase reserves for the future investment by Shelter Cymru. The principles in the strategy have been used to develop the budget each year during this period.

Financial Performance

This year has seen a significant challenges with continuation of the pandemic which resulted in the continued curtailment of some of our Legal Aid, Fundraising and Training activities with the consequent reduction in income. The organisation mitigated the losses using the Covid 19 designated reserve (£173k) set up in 2020 with funds for 20/21 financial year. The Covid 19 designated reserve fund has been fully utilised in the year. During the year we have also received a significant amount of legacy income (£344k). There has been an overall increase in our income with improvement in fundraising, including four large legacies and increased Welsh Government funding to support our services which has resulted in Shelter Cymru exceeding its budget target for the year.

The challenge for the organisation is to maintain income levels as we rebuild activities as we continue to recover from the pandemic. Efforts continue to identify cost savings through efficiency drives to respond to fluctuations in income. These, together with the improvement in income contributed significantly to Shelter Cymru being able to end the year with general reserve levels higher than the reserve policy. As a result of the increase in reserve (mainly due to legacy income) the Trustees have set up a Designated Strategic Reserve to earmark funds required for investment to achieve our 2025 Strategy. An amount of £500k has been transferred to the Strategic Reserve at the year end.

Shelter Cymru received incoming resources of £4,376,814 of which £275,353 (6%) was spent on generating funds, £3,453,133 (79%) was spent on direct charitable activities. A transfer of £173k from the Designated Covid Fund has been made in the year to support reductions in income as a result of Covid impacts. Net incoming resources for 20/21 were £648,328 (15%), and an increase on the previous year's outcome. The net incoming resources have increased the general reserve above the current reserve policy level. This is expected to reduce in 2021/22 with further impacts of Covid 19. The Trustees review the reserve level on an annual basis, with excess amounts being invested in future years to achieve the organisation's strategy. The reserve levels will help mitigate any further impacts of the Coronavirus pandemic going forward.

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2021

The key results for 2020/21 included:

• Fundraising income of £1,074,532 (28% increase on 2020), including income from Legacies of £334,195

• Charitable activities income of £3.3m; an increase of 8% on the previous year.

• 79% of income received was spent on the direct costs of charitable activities.

The principle sources of funding for the year were Welsh Government (£1.9m), local authorities (£593k), Legal Aid (£233k) and fundraising income (through donations, legacies, trusts and events, of £1,075k). Expenditure of £2.8m has enabled our Housing Services to assist over 17,000 people. Campaigns expenditure of £444k has supported our policy, lobbying and campaigning work; £275k fundraising expenditure has assisted in generating income for the charity and investment in the expansion of our fundraising activity.

The outcome for the year was a surplus of £648,328 excluding transfers from Designated reserves. The general reserve at the year end increased to £1,708,089 as a result of the operational outcome. There was some designated reserves expenditure during the year, together with the transfer to Strategic Reserve, which has increased the designated reserve level to £619,554 at the end of the year.

Reserves

Under the requirements of the Statement of Recommended Practice on Accounting and Reporting by Charities 2015, Shelter Cymru segregates its funds into those that are restricted and those that are unrestricted. Further details of these funds and how they are segregated are included in the notes to these accounts.

The Trustees, in line with current best practice, review the reserves policy on a regular basis and this was supported by a reserves strategy linked to the 2020 Vision. When undertaking this review, the Trustees considered the financial impact of those risks identified as part of the ongoing risk management process which is reported to the Finance and Audit Sub-Committee on a quarterly basis.

General Reserve

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

• To provide a resource to meet legal obligations and liabilities

• To finance working capital needs, such as delays in receipts, retrospective funding and to fund the time delays between developing services, obtaining approval and funds being received

• To cover the cost of investing in staff training and development to improve services and efficiency of the organisation

• To cover the cost of developing new services, policy and research and business information systems

• To assist in the strategic planning of services and policy aims

• To assist in the maintenance of Shelter Cymru's independence

The reserves policy requires the organisation to hold defined levels of reserves to ensure that ongoing and future activities are reasonably protected from unexpected changes in income and expenditure. The level of reserves required will also fluctuate as the size and operations of the organisation vary. During 2018/19 the Trustees reviewed the reserve levels due to the increase in funding received and the change in the cost base. For 2020/21 the target level was set at £1,091k for general reserves, this represents three months of costs. At the year-end, actual general reserves were £1,708,089 this includes an amount of £16k which can only be realised by disposing of fixed assets. At the year-end some reserves in excess of the target have been transferred to a Designated Strategic Reserve £500k to support the development of the organisation to meet its 2025 Strategy and are reviewed as part of the annual budget process. The general reserve figure at the year-end is equivalent to 4 months reserve plus anticipated loss for 21/22.

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2021

Designated Reserves

Harris Fund

The Harris Fund Designated Reserve was set up following receipt of a large legacy. The aims of the reserve are:

• Short-term Within the limitations of the benefactor's wishes, where we need to utilise the fund to achieve a break-even budget in any given year.

• Medium term Within the limitations of the benefactor's wishes, where we need to utilise the fund to achieve a strategic delivery priority.

• Long term Subject to the requirement to repay into the fund any sum borrowed (with interest wherever possible), to utilise the fund to invest in growing our independent income.

The Trustees agree an overarching aim that there is a replenishment of any investments made to ensure lasting 'legacy' of the fund

At the year-end the Harris Fund designated reserve was £113k which is in line with expectations. It is anticipated that this fund will be used within a period of 5 years.

Covid 19 Fund

The Trustees set up a Covid 19 designated reserve in 2020 to 'earmark' funds received for losses expected in 2020/21. The Fund was expected to be spent by the end of September 2021. At the year end the Covid 19 designated reserve was £nil.

Strategic Reserve Designated Fund

The Trustees set up a Strategic designated reserve at the end of the year to 'earmark' funds in excess of general reserve targets to support the development of the 2025 Strategy. The Fund is expected to be spent by the end of September 2025. At the year end the Strategic designated reserve was £500k.

Risk Management and Internal Control

The trustees have overall responsibility for ensuring that the organisation operates an appropriate system of controls, financial and otherwise, to provide reasonable assurance that:

• the charity is operating efficiently and effectively

• its assets are safeguarded against unauthorised use or disposal

• proper records are maintained and financial information is reliable

• The charity complies with relevant laws and regulations.

The Finance & Audit Sub-Committee is responsible for monitoring the effectiveness of the internal controls and reports on this to the board. The systems of control operated within Shelter Cymru are designed to provide reasonable assurance against material misstatement or loss. They include:

• a strategic plan

• an annual business plan, budget and cash flow forecast

• a system of key performance indicators

• regular consideration by the trustees of actual results compared with budgets, forecasts and trends,

• cash flow and reserve levels

• segregation of duties

• a business risk register and systematic process for identifying and managing risks

• regular reviews of financial procedures and delegated authority

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2021

The Trustees, in partnership with the Senior Management Team, monitor risk through a formal management process that assesses and attempts to control areas of defined risk. As part of this process, we have instituted policies on internal controls covering:

• identification of the risks that Shelter Cymru faces

• the level of risks materialising

• the likelihood of these risks materialising

• our ability to reduce the incidence and impact on the organisation of the risks that do materialise by maintaining adequate levels of reserves

• developed key risk indicators to assist with early warning and effective control of potential risks

Shelter Cymru is committed to its risk management processes and senior managers and Trustees are continuing to develop and refine risk management and control processes. The Risk Register is reviewed quarterly by the Trustees.

The Trustees have identified the major risks facing the charity are loss of public funding for its services and projects, inadequate fundraising and new income growth, risk of not achieving 2025 Strategy due to lack of capacity or skills and the Covid 19 risk. A key element of the management of these risks is the Charity's fundraising investment strategy which aims to build on its independent income. Performance of fundraising and new income growth is monitored by the Board on a quarterly basis. In addition with the changing environment and regulatory context around fundraising and indeed the campaigning role of charities, the Board of Trustees also reviews the reputational risk to the Charity of activities and promotional and public messages that may be considered.

Investment Policy

The majority of the programme funds obtained by Shelter Cymru are provided against specified projects for particular needs and are therefore of a restricted nature. Therefore any funds that are built up in advance of expenditure need to be kept as liquid as possible, whilst making every effort to maximise any available investment return for the benefit of the project. Such funds are kept on deposit with reputable banks where immediate access has to be balanced against available interest rates. The funds are maintained within three main accounts to diversify the cash holdings.

Where particular Sponsors require separate bank accounts or that specific named banks are used, these conditions will be honoured. Rates available from the whole banking sector are kept under regular review and every effort is made to maximise any potential return in an effort to obtain all possible funding for all projects.

The Trustees have undertaken a review of the investment policy with a view to considering investing surplus cash. The investments are on hold due to the uncertainty around the ongoing financial impacts of Coronavirus pandemic.

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2021

Fundraising

Financial Performance

Fundraising performance during the second Covid-impacted year was improved despite trying circumstances; in total £1,074,532 was raised which included £334,195 of income from Legacies. £799,179 of this total was a net contribution to the work of Shelter Cymru. This net out-turn is the most successful year that the Fundraising team has delivered to date, and is 25% of the total income received by the Charity during the financial year.

Total expenditure on fundraising during the year was £275,353. The return on investment on income raised during the year was 3.90:1 (last year 3.23:1).

Shelter Cymru is an independent Welsh Charity (i.e. not part of Shelter), meaning that every penny raised in Wales is spent in Wales. There are occasions when we y partner with Shelter (operational in England and Scotland) to deliver national corporate partnerships throughout the UK and to promote regional fundraising initiatives.

Our supporters throughout Wales have united in fundraising when we needed them most. With their help and generosity, we have been able to fund many areas of work and power the fight for home. We thank each and every one of our supporters for helping us: we want to ensure that no-one in Wales faces homelessness alone

Fair, honest and open fundraising

We are committed to fair, honest, and open fundraising. To strive for the highest possible standards, we:

• a. are registered with the Fundraising Regulator and the Fundraising Preference Service, and are committed to complying with the Fundraising Promise

• b. comply with the Code of Fundraising Practice and the Charity Commission's fundraising requirements

• c. are individual members of the Chartered Institute of Fundraising and champion and promote fundraising as a career choice

• d. give our supporters the opportunity to opt out of further contact, or to opt out of a specific method of communication as part of every approach for?donations. We also use preferred communication channels - and if these change, we adapt them swiftly to suit supporter needs

• e. use donations carefully and responsibly, and respect the wish to designate a gift to a specific aspect of our work

• f. fund work with a demonstrable, positive impact on the lives of homeless and badly housed people in Wales, while keeping support costs to a minimum

• g.

• do not share or sell data with third parties for marketing benefit

• h. ensure we put in place appropriate intervals between fundraising approaches. For example, the maximum number of cash appeal direct mailings an individual would receive is three per year

• i. deal with complaints about our fundraising activities via our Supporter inbox.

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2021

Our Fundraising Charter

Shelter Cymru's approach to Fundraising is values-driven, ethical and effective and follows these key principles:

• Respect - being mindful to donors needs and respecting the wishes of the donor

• Fairness - not discriminating against any group or individual

• Responsiveness - ensuring we adapt communications and language to suit the needs of donors

• Accountability - ensuring actions are in line with the Code of Practice, monitoring fundraising activities in terms of impacts on people, responding to and acting on complaints, ensuring the Board of Trustees understand and approve fundraising strategies and methods and that implementation is regularly reported to them

During the year, the number of donors choosing to opt-out of Fundraising communications via the Fundraising Preference Service was 0 (zero). The number of Fundraising complaints received and reported to the Fundraising Regulator was also 0 (zero).

Principal fundraising activities

Shelter Cymru benefits from a very broad and diverse supporter base. Supporters donate in a wide variety of ways. In 2020/21 these included:

• Regular donations - more than 500 supporters made regular donations, usually on a monthly basis.

• Individual donations - for example from supporters responding to a specific appeal (eg Christmas) or buying merchandise.

• Community fundraising - community-based activities or challenge events that took place in support of Shelter Cymru, organised by people of all ages.

• Events - many people participated in virtual and in-person local and national events to raise funds, albeit at a lower number than pre-pandemic (due to Government restrictions and event postponement/ cancellation). From raffles to races, the breadth of ways in which participants supported was vast.

• Corporate fundraising - corporate partners chose to give in as many ways as they could in an unpredictable economic climate. They did this via direct donations, delivering cause-related marketing programmes and/or engaging with their employees and customers to help raise funds for the charity and volunteer.

• Trust and grant funders - despite the diminishing availability of Covid-specific funding sources to aid recovery, many private funders supported our work during the financial year contributing to both core costs and designated project work/ service delivery

• Legacies - more than 30% of our fundraised income was via legacy gifts this year, where supporters chose to give a gift to Shelter Cymru in their Will.

As we enter our third Covid-impacted financial year, the environment in which we operate will continue to bring us new challenges, but also opportunities. We shall continue to work as creatively, effectively and efficiently as we can to maximise our income, improving the lives of those who are living in bad housing or facing / experiencing homelessness. We remain ambitious and are committed to adapting and diversifying as best we can

Thank you

We would like to acknowledge the following funders (left) and organisations (right) for their support during the last 12 months:

ASDA Foundation Aber Instruments Limited Austin and Hope Pilkington Trust Admiral Group Carmarthen Town Council B&Q Comic Relief Barry M. Cosmetics

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2021

Croesyceiliog & Llanyrafon Community Council Julia and Hans Rausing Trust National Emergencies Trust Nationwide Building Society Community Grants Rhoddwyr Charitable Trust Simon Gibson Charitable Trust The Access to Justice Foundation The Albert Hunt Trust The Community Justice Fund The Darkley Trust The Henry Smith Charity The National Lottery Community Fund The Oakdale Trust The Pentwyn Trust The Tyldesley Charitable Settlement The Waterloo Foundation WCVA 1 x Anonymous

Berry Smith Lawyers designdough Enigma Industrial FatFace Ginger & Tall GoCompare Gwalia Healthcare HSBC Live Under The Stars Marks & Spencer Monmouthshire Building Society Nationwide Building Society PSM Sportswear Run4Wales Saica Pack UK Ltd Sainsburys Spire Cardiff Hospital The Good Life Society & The Gladstone Family Trustmark Design & Print Welsh Otter

PLANS FOR THE FUTURE

Our 2025 Strategy will guide our continued work to serve our beneficiaries and promote system change. The coming year will see increased demand for our services, as the economic impact of the pandemic continues to be felt by communities across Wales: intensifying the pre-existing upward trend in demand for our services; impacting employment and housing markets; and creating a challenging funding environment.

We will:

• Seek creative, effective and more efficient ways of delivering our charitable aims.

• Embed opportunities for diverse, lived experiences to inform work across Shelter Cymru.

• Continue to orientate our help towards achieving positive, long term outcomes and towards satisfying our beneficiaries in the ways that matter most to them.

• Invest in our staff, who are our greatest asset, and in our digital infrastructure, as a key enabler.

• • Continue to: - campaign for secure, affordable and good quality homes for people in Wales.

• press for homelessness to have the financial and political priority it merits.

• advocate for rights-based approaches and systems that enable people to find and keep a home.

• Marshal evidence to propose solutions to the affordability crisis.

• Create and deliver a funding and income generation strategy that supports our ambitions to end housing need and enables us to act independently, in the interests of our beneficiaries.

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Board and Governance Developments

Shelter Cymru (formally registered as 'Welsh Housing Aid Limited') is constituted as a company limited by guarantee and is governed by its Memorandum and Articles of Association.

The Board of Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, have overall responsibility for the direction, management and control of the charity. Some of these activities are delegated to sub-committees of the Board and overall operational management is delegated to the Chief Executive Officer and Senior Management Team.

The Board currently has nine members out of a maximum of 16. Regular open recruitment programmes are undertaken and applicants are interviewed by Trustees nominated by the board, and appointed to meet the skills, competencies and experience requirements of the Board. The Trustees may serve two terms of four years before standing down for a minimum of one year.

All new Trustees are given a thorough induction programme and issued with a handbook, explaining their role and responsibilities as a Trustee. Beyond formal reports to the board, Trustees are also kept up to date with developments through regular bulletins, training where appropriate, attendance/participation at Shelter Cymru meetings and events, and are encouraged to visit offices to meet staff and see services in action, when appropriate.

In 2020/21:

The Board met on four occasions with one of the meetings also being a 2-day 'Away Day' event which provided an opportunity for Trustees and the Senior Management Team to reflect on key issues and challenges facing the organisation and the people it helps.

The Governance Development Sub-committee (GDSC) met on four occasions during the year, chaired by the Vice-Chair of the board. Due to work commitments, 3 Trustees resigned during the year. GDSC undertook a skills and diversity audit to both identify priorities for Trustee development and to inform Trustee recruitment, due to begin in early 2022. It invited an expert to inform its discussions around board diversification and it refreshed the Trustees' Handbook. It also considered the role of Trainee Trustees, and how these roles can support board diversity and the involvement of people with lived experience; specific proposals on the latter will be brought forward in 21/22.

The Finance Audit Sub-Committee (FASC) maintained its quarterly overview of the financial, risk, and health and safety management of the organisation reporting to the Board. It met on four occasions, two weeks before full board meetings allowing finances and risks to be thoroughly scrutinised and subsequently reported to the Board. Throughout the year the FASC was able to provide positive reports on all aspects of Shelter Cymru's management.

One new Trustee was appointed during the year, bringing additional skills in finance.

Pay Policy for Senior Staff

The Board of Trustees (who are the directors) and the Chief Executive along with the Senior Management Team (Head of Campaigns, Head of Finance, Head of Housing Services North, Head of Fundraising, and Head of Housing Services South) comprise the key management personnel in charge of directing, controlling, running and operating the Charity on a day to day basis. All Trustees give their time freely and no Trustee received remuneration in the year. Details of Trustees' expenses and related party transactions are disclosed in note 10 to the accounts.

The pay of the senior staff is reviewed by the Trustees / Chief Executive. Reviews of remuneration and benefits are undertaken on a periodic basis and market comparison information is used to test and adjust salary levels and other terms and conditions where appropriate.

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2021

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 01830262 (England and Wales)

Registered Charity number

515902

Registered office

25 Walter Road Swansea SA1 5NN

President

Sir Bryn Terfel CBE

Vice Presidents

Rebecca Evans CBE Samantha Maskrey Cerys Matthews CBE Tim Rhys–Evans MBE

Board of Trustees

Shayne Hembrow (Chair) Jeff Childs stood down 11/03/2021 Andrew Weltch Martin Britton (Treasurer) resigned 11/03/2021 Nuria Zolle Trystan Jones John Daniel Charles Millington Ceri Breeze Joanne Edwards resigned 18/08/2021 Meri Huws Owen Derbyshire resigned 11/03/2021 Noela Jones Andrew Clennell (Treasurer) appointed 11/03/2021

*Please note the Board introduced a requirement that Trustees must stand down after two 4 year terms of office.

Key Management Personnel

Ruth Power Chief Executive Officer Jennie Bibbings Head of Campaigns Janet Loudon Head of Housing Services North JJ Costello Head of Housing Services South Samantha Tucker Head of Finance Kerys Sheppard Head of Fundraising

Company Secretary

Ms R Power

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2021

Auditors

Bevan Buckland LLP Chartered Accountants And Statutory Auditors Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA

Solicitors

Douglas-Jones Mercer, 16 Axis Court, Mallard Way, Swansea Vale, Swansea, SA7 0AJ

Principal Bankers

Co-operative Bank, South Wales Corporate Banking Centre, 16-17 High Street, Cardiff, CF1 1SW

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2021

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Welsh Housing Aid Limited for the purposes of company law) are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are 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;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

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

In so far as the trustees are aware:

• there is no relevant audit information of which the charitable company's auditors are unaware; and

• the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

AUDITORS

The auditors, Bevan Buckland LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 10[th] March 2022and signed on the board's behalf by:

.................................................................

S A Hembrow - Trustee

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WELSH HOUSING AID LIMITED

Opinion

We have audited the financial statements of Welsh Housing Aid Limited (the 'charitable company') for the year ended 30 September 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. 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 charitable company's affairs as at 30 September 2021 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the Report of the Trustees has been prepared in accordance with applicable legal requirements.

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WELSH HOUSING AID LIMITED

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

• adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or

• the financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of trustees' remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Extent to which the audit was considered capable of detecting irregularities, including fraud

We identify and assess the risks of material misstatement of the Financial Statements, whether due to fraud or error, and then, design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

We discussed our audit independence complying with the Revised Ethical Standard 2019 with the engagement team members whilst planning the audit and continually monitored our independence throughout the process.

Identifying and assessing potential risks related to irregularities.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

Enquiring of management, including obtaining and reviewing supporting documentation, concerning the company's policies and procedures relating to:

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

• detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;

• internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations;

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF WELSH HOUSING AID LIMITED

Discussing among the engagement team how and where fraud might occur in the Financial Statements and any potential indicators of fraud.

Obtaining an understanding of the legal and regulatory frameworks that the charitable company operates in, focusing on those laws and regulations that had a direct effect on the Financial Statements or that had a fundamental effect on the operations of the charitable company, The key laws and regulations we considered in this context included the UK Companies Act and relevant tax legislation.

Audit response to risks identified

In addition to the above, our procedures to respond to risks identified included the following:

• reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with relevant laws and regulations;

• enquiring of management concerning actual and potential litigation and claims; performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

• reading minutes of meetings of those charged with governance and reviewing correspondence with HMRC;

• in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments;

• assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and

• evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

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

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Alison Vickers (Senior Statutory Auditor) for and on behalf of Bevan Buckland LLP Chartered Accountants And Statutory Auditors Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA

Date: ...............10/03/2022...............

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2021

Notes INCOME FROM Donations and legacies 3 Charitable activities 5 Housing Services Policy & Campaigning Training & Conferences Research Other Investment income 4 Total EXPENDITURE ON Raising funds 6 Charitable activities 7 Housing Services Policy & Campaigning Training & Conferences Research Other Total Expenditure NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD		Unrestricted funds £ 1,034,756 237,503 6,183 114,104 28,832 16,510	Restricted funds £ 39,776 2,704,583 93,800 8,881 91,874 -	2021 Total funds £ 1,074,532 2,942,086 99,983 122,985 120,706 16,510	2020 Total funds £ 837,108 2,744,689 104,133 47,757 131,336 29,212
		403,132	2,899,138	3,302,270	3,057,127
		12	-	12	1,743
		1,437,900	2,938,914	4,376,814	3,895,978
		275,353 96,544 332,437 71,966 13,272 -	- 2,726,646 111,513 8,881 91,874 -	275,353 2,823,190 443,950 80,847 105,146 -	259,248 2,715,989 402,054 75,383 128,542 21,820
		514,219	2,938,914	3,453,133	3,343,788
		789,572	2,938,914	3,728,486	3,603,036
		648,328	-	648,328	292,942
		1,679,315 2,327,643	- -	1,679,315 2,327,643	1,386,373 1,679,315

The notes form part of these financial statements

Page 26

WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

BALANCE SHEET 30 SEPTEMBER 2021

Notes FIXED ASSETS Tangible assets 14 CURRENT ASSETS Stocks 15 Debtors 16 Cash at bank CREDITORS Amounts falling due within one year 17 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 20 Unrestricted funds TOTAL FUNDS	Unrestricted funds £ 16,178 135,261 277,389 2,087,099 2,499,749 (188,284) 2,311,465 2,327,643 2,327,643	Restricted funds £ - - 102,975 509,787 612,762 (612,762) - - -	2021 Total funds £ 16,178 135,261 380,364 2,596,886 3,112,511 (801,046) 2,311,465 2,327,643 2,327,643 2,327,643 2,327,643	2020 Total funds £ 12,551 89,587 157,393 2,057,679 2,304,659 (637,895) 1,666,764 1,679,315 1,679,315 1,679,315 1,679,315

The financial statements were approved by the Board of Trustees and authorised for issue on 10[th] March 2022 and were signed on its behalf by:

.............................................

S A Hembrow - Trustee

The notes form part of these financial statements

Page 27

WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

CASH FLOW STATEMENT FOR THE YEAR ENDED 30 SEPTEMBER 2021

Notes Cash flows from operating activities Cash generated from operations 1 Net cash provided by operating activities Cash flows from investing activities Purchase of tangible fixed assets Interest received Net cash used in investing activities Cash flows from financing activities New loans in year Loan repayments in year Capital repayments in year Net cash (used in)/provided by financing activities Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period	2021 £ 561,221 561,221 (7,963) 12 (7,951) 4,687 (18,750) - (14,063) 539,207 2,057,679 2,596,886	2020 £ 510,103 510,103 (5,894) 1,743 (4,151) 14,063 - (3,165) 10,898 516,850 1,540,829 2,057,679

The notes form part of these financial statements

Page 28

WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 30 SEPTEMBER 2021

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2021 £ Net income for the reporting period (as per the Statement of Financial Activities) 648,328 Adjustments for: Depreciation charges 4,336 Interest received (12) (Increase)/decrease in stocks (45,674) (Increase)/decrease in debtors (222,971) Increase in creditors 177,214 Net cash provided by operations 561,221 2. ANALYSIS OF CHANGES IN NET FUNDS At 1.10.20 Cash flow £ £ Net cash Cash at bank 2,057,679 539,207 2,057,679 539,207 Debt Debts falling due within 1 year (14,063) 14,063 (14,063) 14,063 Total 2,043,616 553,270

2020 £ 292,942 6,524 (1,743) 29,949 76,742 105,689 510,103 At 30.9.21 £ 2,596,886 2,596,886 - - 2,596,886

The notes form part of these financial statements

Page 29

WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', 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 prepared under the historical cost convention.

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

Going concern

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

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received, and the amount can be measured reliably.

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

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

Grants are only included in the SoFA when the general income recognition criteria are met. In the case of performance related grants, income must only be recognised to the extent that the charity has provided the specified goods or services as entitlement to the grant only occurs when the performance related conditions are met. Where the performance related conditions have not been met the income is deferred.

The value of any voluntary help is not included in the accounts but is described in the trustee's annual report.

Income from interest is included in the accounts when receipt is probable, and the amount receivable can be measured reliably.

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of resources.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2021

1. ACCOUNTING POLICIES - continued

Governance and support costs

Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice.

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, eg allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Repairs and renewals to rented properties are written off in the period in which they are incurred.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property - in accordance with the property lease Fixtures and fittings - 15% reducing balance Computer equipment - 20% & 33% on cost

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. These are capitalised if they can be measured at cost or valuation, net of depreciation and any impairment losses. These are capitalised if they can be used for more than one year and cost at least £1,000.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in net income/(expenditure) for the year.

Stocks

Stocks are stated as the lower of cost and estimated selling price less costs to complete and sell.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

Work in progress is valued at cost less any foreseeable loss that is likely to occur on the contract. Work in progress is valued at between 80-85% of costs outstanding.

Taxation

As a registered charity, Welsh Housing Aid Limited T/A Shelter Cymru is entitled to the exemption from taxation in respect of income and capital gains received with sections 478-489 of the Corporation Tax Act 2010 and section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects purposes only.

Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for the other purposes.

The trustees have a reserves policy that requires the organisation to hold defined levels of reserves to ensure that outgoing and future activities and reasonably protected from unexpected reductions in income and increases in expenditure. (Funds currently earmarked by the trustees for particular purposes falling in future time periods are set out in note 20).

Restricted funds comprise of donations received subject to specific restrictions and grants received in relation to specific housing advice projects.

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2021

1. ACCOUNTING POLICIES - continued

Leases

Assets obtained under hire purchase contracts and finance leases are capitalized as tangible assets and depreciated over the shorter of the lease term and their useful lives Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

The charity classified the lease of a photocopies, franking machine and digital equipment as operating leases; the title of the equipment remains with the lessor and the equipment is replaced every 3-5 years whilst the economic life of such equipment is normally 5 years. Rental charges are charged on a straight-line basis over the term of the lease.

Cash and cash equivalents

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

Financial instruments

The charity has elected to apply provisions of Section 11'Basic Financial Instrument' and Section 12 'Other Financial Instruments Issue' of FRS 102 to all of its financial instruments.

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

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

Basic financial assets

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

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risk and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities

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

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

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

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2021

1. ACCOUNTING POLICIES - continued

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity's contractual obligation expire or are discharged or cancelled.

Employee benefits

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

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

Retirement benefits

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

Deferred Income

A grant that is subject to performance-related conditions received in advance of delivering the goods and services required by that condition, or is subject to unmet conditions wholly outside the control of the recipient charity, is accounted for as a liability and shown on the balance sheet as deferred income. Deferred income is released to income in the reporting period in which the performance related or other conditions that limit recognition are met.

2. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

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

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

3. DONATIONS AND LEGACIES

DONATIONS AND LEGACIES
Donations and gifts Grants	2021 £ 1,052,469 22,063 1,074,532	2020 £ 575,405 261,703
		837,108

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2021

3. DONATIONS AND LEGACIES - continued

Donations and gifts

Individuals, corporate bodies etc Tax refunds Legacy Shelter Partnership Income Fundraising income for Charitable Activities Sale of goods	Unrestricted funds 609,087 32,284 334,195 57,378 - 1,812 1,034,756	Restricted Total funds 2021 - 609,087 - 32,284 - 334,195 - 57,378 17,713 17,713 - 1,812 17,713 1,052,469	Total 2020 409,418 32,556 80,209 35,509 17,713 -
			575,405

In accordance with the Charities SORP (FRS 102) legacies are receivable when conditions for entitlement have been met; and receipt of the income can be measured accurately.

At the year-end the Charitable Company had 2 open legacy cases which had not met all of the conditions for entitlement. Should indicative amounts be received in respect of these legacies the Charity could benefit from a further £60,000 in the future. In applying the requirements of the Charity SORP (FRS 102) in measuring income when it can be accurately measured, an accrual of £115,000 has been included in the accounts for legacy bequests.

Grants

Grants
Job Retention Scheme Trust and Other Income re Covid 19 Third Sector Resilience Fund for Wales Comic Relief Recovery Fund Access to Justice Fund	Unrestricted funds - - - - - -	Restricted Total funds 2021 - - - - 14,063 14,063 8,000 8,000 - - 22,063 22,063	Total 2020 17,290 95,225 42,188 32,000 75,000
			261,703

4. INVESTMENT INCOME

Deposit account interest INCOME FROM CHARITABLE ACTIVITIES Activity Charitable Activities Housing Services Charitable Activities Policy & Campaigning Charitable Activities Training & Conferences Charitable Activities Research Charitable Activities Other	2021 £ 12 2021 £ 2,942,086 99,983 122,985 120,706 16,510 3,302,270	2020 £ 1,743 2020 £ 2,744,689 104,133 47,757 131,336 29,212	2020 £ 1,743
		3,057,127

5. INCOME FROM CHARITABLE ACTIVITIES

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2021

5. INCOME FROM CHARITABLE ACTIVITIES - continued

Big Lottery Fund - Housing And Debt Advice Bridgend CBC CAIS Carmarthenshire CC - SWBFAS Carmarthenshire CC - Debt Advisor City & County of Swansea Nationwide Volunteer Coordinator Comic Relief - Rough Sleepers Comic Relief - Tech for Good Comic Relief - Homelessness response Fund Denbighshire CC Flintshire CC Flintshire CC - Embedded Advisor Flintshire CC Supporting People Revenue Grant Gwynedd CC Debt Advice Gwynedd CC Supporting People Grant Vale of Glamorgan CC Powys CC Access to Justice Nationwide - Rough Sleepers Ynys Mon LA Oak Foundation Henry Smith - Housing First Moondance Welsh Government - Advice Service Welsh Government - Prison Link Cymru and Prison Housing Advice Welsh Government - LGBT Aware Welsh Government - Education Welsh Government - Take Notice Welsh Government - Helping More People Welsh Government - Youth Homelessness Welsh Government - CAB Frontline Advice Secondment Money Advice Service Face-to Face Debt Advice Project WCVA Tolkiien - SCL Advisor Other Income - Research, Training Etc Legal Aid Certificated Income Legal Aid Agency Contracts Job Retention Scheme	Unrestricted funds £ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 170,564 52,051 180,517 - 403,132	Restricted funds £ 77,123 67,561 10,299 83,007 18,016 16,010 6,311 73,103 5,889 37,700 20,000 26,770 31,814 118,048 40,229 96,544 25,985 34,000 8,881 - 15,409 91,874 72,975 - - 152,322 - - - 1,379,614 - 374,648 - - 3,501 11,505 - - - - 2,899,138	Total 2021 £ 77,123 67,561 10,299 83,007 18,016 16,010 6,311 73,103 5,889 37,700 20,000 26,770 31,814 118,048 40,229 96,544 25,985 34,000 8,881 - 15,409 91,874 72,975 - - 152,322 - - - 1,379,614 - 374,648 - - 3,501 11,505 170,564 52,051 180.517 - 3,302,270	Total 2020 £ - 69,764 41,195 88,289 18,016 15,913 1,612 58,733 - - 20,000 26,770 - 112,300 36,070 92,745 25,985 34,000 - 5,117 19,182 99,604 - 12,959 522,927 132,767 3,137 25,303 22,639 653,252 77,798 341,429 21,820 24,890 3,501 952 96,965 90,911 190,640 69,942
				3,057,127

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2021

5. INCOME FROM CHARITABLE ACTIVITIES - continued

Actual income received from Welsh Government was: LGBT Aware £nil (2020: £3,318) Education £nil (2020: £28,382) PLC £136,062 (2020: £141,539) Take Notice £nil (2020: £21,994) Youth Homelessness £nil (2020: £22,983) Advice £nil (2020: £515,186) Helping More People £1,380,374 (2020: £697,506)

The Money advice Service Face-to Face Debt Advice Project is in partnership with Citizens Advice.

Powys CC funding includes £17,000 in respect of Supporting People Funding (2020: £17,000). 6. RAISING FUNDS

Raising donations and legacies

Staff costs Staff training and welfare Travel Other direct costs Office Equipment Telephone Other administration Support costs	2021 £ 144,896 268 1,076 79,543 3,044 765 20,893 24,868 275,353	2020 £ 134,509 535 1,311 78,894 3,362 783 12,942 26,912
		259,248

7. CHARITABLE ACTIVITIES COSTS

Housing Services Policy & Campaigning Training & Conferences Research	Direct Costs (see note 8) £ 2,390,489 394,214 65,926 90,225 2,940,854	Support costs (see note 9) £ 432,701 49,736 14,921 14,921 512,279	Totals £ 2,823,190 443,950 80,847 105,146
			3,453,133

8. DIRECT COSTS OF CHARITABLE ACTIVITIES

Staff costs Staff training and welfare Staff costs - other Travel Other direct costs Buildings Office equipment Other administration Telephone Depreciation	2021 £ 2,588,317 16,634 8,193 2,984 185,573 (978) 42,357 51,947 45,626 201 2,940,854	2020 £ 2,492,724 7,978 18,883 34,186 130,289 10,709 18,258 40,626 24,692 297
		2,778,642

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2021

9. SUPPORT COSTS

Basis of allocation Staff costs Headcount Staff training and welfare Headcount Staff costs - other Headcount Depreciation Headcount Travel Headcount Buildings Headcount Office equipment Headcount Telephone Headcount Other administration Headcount Governance costs Governance Analysed between Charitable activities	Support costs £ 169,833 4,157 - 4,135 178 158,507 68,245 19,525 81,982 - 506,562 506,562	Governance costs £ - - - - - - - - - 5,717 5,717 5,717	2021 £ 169,833 4,157 - 4,135 178 158,507 68,245 19,525 81,982 5,717 512,279 512,279	2020 £ 160,262 10,256 40,667 6,227 406 165,791 66,274 21,263 88,417 5,584 565,146 565,146

10. AUDITORS REMUNERATION

The analysis of auditor's remuneration is as follows:

	2021	2020
	£	£
Auditors' remuneration	5,995	5,850
Auditors' remuneration for taxation services	450	-
Auditors' remuneration for other non-audit work	785	-

11. TRUSTEES' REMUNERATION AND BENEFITS

Trustees did not receive any remuneration or were reimbursed for any services provided to the charity during the current or prior year.

During the year nil trustees (2020: 4) were reimbursed for travel costs amount to £nil (2020: £580).

1 trustee (2020: 5) waived travel expenses of £116 (2020: £408). Amounts donated by trustees totalled £258 (2020: £208).

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2021

12. STAFF COSTS

Employment costs

Wages and salaries Social security costs Other pension and life assurance costs Agency, redundancy, recruitment and other staff costs	2021 £ 2,551,638 213,805 145,847 8,193 2,919,483	2020 £ 2,441,983 201,254 151,888 61,487 2,856,612

During the year redundancy/termination payments were made totalling £7,500 (2020: £27,663). The amounts were paid in respect of termination of contracts in respect of redundancy and resignation.

The average monthly number of employees during the year was as follows:

Housing services Policy and campaigning Training and conferences Research Fundraising Infrastructure	2021 87 10 3 3 5 6 114	2020 89 10 3 3 5 5
		115

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

£70,001 - £80,000

2021	2020
1	1

The total employer's pension contributions paid to defined contributions schemes for the higher paid employee was £3,499 (2020: £6,750).

Key management personnel

Key management personnel of the Charity comprise the Trustees, Chief Executive, Head of Campaigns, Head of Finance, Head of Fundraising, Head of Housing Services North and Head of Housing Services South.

The total employee benefits of the key management personnel of the Charity were £358,397 (2020 £312,914)

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2021

13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds £ INCOME FROM Donations and legacies 670,207 Charitable activities Housing Services 348,885 Policy & Campaigning 12,692 Training & Conferences 47,757 Research 31,732 Other 7,392 Investment income 1,743 Total 1,120,408 EXPENDITURE ON Raising funds 259,248 Charitable activities Housing Services 213,185 Policy & Campaigning 292,900 Training & Conferences 33,195 Research 28,938 Other - Total 827,466 NET INCOME 292,942 RECONCILIATION OF FUNDS Total funds brought forward 1,386,373 TOTAL FUNDS CARRIED FORWARD 1,679,315	Restricted funds £ 166,901 2,395,804 91,441 - 99,604 21,820 - 2,775,570 - 2,502,804 109,154 42,188 99,604 21,820 2,775,570 - - -	Total funds £ 837,108 2,744,689 104,133 47,757 131,336 29,212 1,743
		3,895,978 259,248 2,715,989 402,054 75,383 128,542 21,820
		3,603,036
		292,942 1,386,373
		1,679,315

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14. TANGIBLE FIXED ASSETS

Improvements to Fixtures and property fittings £ £ COST At 1 October 2020 11,961 26,608 Additions - - At 30 September 2021 11,961 26,608 DEPRECIATION At 1 October 2020 5,047 20,971 Charge for year 1,938 846 At 30 September 2021 6,985 21,817 NET BOOK VALUE At 30 September 2021 4,976 4,791 At 30 September 2020 6,914 5,637 15. STOCKS Stocks Work-in-progress 16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors	Computer equipment £ 153,003 7,963 160,966 153,003 1,552 154,555 6,411 - 2021 £ 16,599 118,662 135,261 2021 £ 70,276 310,088 380,364	Totals £ 191,572 7,963 199,535 179,021 4,336 183,357 16,178 12,551 2020 £ 7,598 81,989 89,587 2020 £ 48,418 108,975 157,393

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17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other loans (see note 18) Trade creditors Social security and other taxes Other creditors Accrued expenses Deferred income Deferred Income Performance grants where services are not yet provided Deferred income is included in the financial statements as follows: Balance brought forward Income received Amounts released Balance carried forward 18. LOANS An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Other loans 19. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year Between one and five years	2021 £ 48,740 1,925 50,665	2020 £ 44,900 2,825 47,725

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20. MOVEMENT IN FUNDS

Unrestricted funds General fund Designated Fund - The Harris Fund Designated Fund - Infrastructure Improvements Designated Fund - Covid 19 Fund Designated Fund - Strategic Reserve Fund TOTAL FUNDS	At 1.10.20 £ 1,368,042 131,745 6,081 173,447 - 1,679,315 1,679,315	Net movement in funds £ 823,122 (18,272) - (156,522) - 648,328 648,328	Transfers between funds £ (483,075) - - (16,925) 500,000 - -	At 30.9.21 £ 1,708,089 113,473 6,081 - 500,000 2,327,643 2,327,643

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20. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds General fund Designated Fund - The Harris Fund Designated Fund - Covid 19 Fund Note Restricted funds 2 Bridgend CBC 2 CAIS 4 Carmarthenshire CC - SWBFAS 2 Carmarthenshire CC - Debt Advisor 2 City & County of Swansea 4 Comic Relief 2 Denbighshire CC 2 Flintshire CC 3 Flintshire CC Supporting People Revenue Grant 4 Gwynedd CC Debt Advice 3 Gwynedd CC Supporting People Revenue Grant 2 Vale of Glamorgan CC 2 Powys CC 4 Ynys Mon LA 4 Oak Foundation 1 Welsh Government - Prison Link Cymru and Prison Housing Advice 1 Welsh Government - Helping More People 1 Welsh Government - CAB Frontline Advice 4 WCVA 4 Tolkiien - SCL Advisor 2 Nationwide Volunteer Coordinator 5 Third Sector Resilience Fund for Wales 5 Comic Relief Recovery Fund 5 Access to Justice Fund 4 Nationwide 4 Big Lottery Fund - Housing and Debt Advice 4 Comic Relief - Rough Sleepers 4 Comic Relief - Homelessness response fund 2 Flintshire CC - Embedded Advisor 4 Henry Smith - Housing First TOTAL FUNDS	Incoming resources £ 1,437,900 - - 1,437,900 67,561 10,299 83,007 18,016 16,010 5,889 20,000 26,770 118,048 40,229 96,544 25,985 34,000 15,409 91,874 152,322 1,379,614 374,648 3,501 11,505 6,311 14,063 8,000 8,881 17,713 77,123 73,103 37,700 31,814 72,975 2,938,914 4,376,814	Resources expended £ (614,778) (18,272) (156,522) (789,572) (67,561) (10,299) (83,007) (18,016) (16,010) (5,889) (20,000) (26,770) (118,048) (40,229) (96,544) (25,985) (34,000) (15,409) (91,874) (152,322) (1,379,614) (374,648) (3,501) (11,505) (6,311) (14,063) (8,000) (8,881) (17,713) (77,123) (73,103) (37,700) (31,814) (72,975) (2,938,914) (3,728,486)	Movement in funds £ 823,122 (18,272) (156,522) 648,328 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 648,328

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20. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds General fund Designated Fund - The Harris Fund Designated Fund - Infrastructure Improvements Designated Fund - Covid 19 Fund TOTAL FUNDS	At 1.10.19 £ 1,245,470 131,745 9,158 - 1,386,373 1,386,373	Net movement in funds £ 296,019 - (3,077) - 292,942 292,942	Transfers between funds £ (173,447) - - 173,447 - -	At 30.9.20 £ 1,368,042 131,745 6,081 173,447 1,679,315 1,679,315

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20. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds General fund Designated Fund - Infrastructure Improvements Note Restricted funds 2 Bridgend CBC 2 CAIS 4 Carmarthenshire CC - SWBFAS 2 Carmarthenshire CC - Debt Advisor 2 City & County of Swansea 4 Comic Relief 2 Denbighshire CC 2 Flintshire CC 3 Flintshire CC Supporting People Revenue Grant 4 Gwynedd CC Debt Advice 3 Gwynedd CC Supporting People Revenue Grant 2 Vale of Glamorgan CC 2 Powys CC 4 Nationwide - Rough Sleepers 4 Ynys Mon LA 4 Oak Foundation 4 Moondance 1 Welsh Government - Advice Service 1 Welsh Government - Prison Link Cymru and Prison Housing Advice 1 Welsh Government - LGBT Aware 1 Welsh Government - Homeworks Welsh Government - Take Notice 1 Youth Homelessness 1 Welsh Government - Helping More People 1 Welsh Government - CAB Frontline Advice 4 Secondment 4 Money Advice Service Face-to-Face Debt Advice Project 4 WCVA 4 Tolkiien - SCL Advisor 2 Nationwide Volunteer Coordinator 5 Third Sector Resilience Fund for Wales 5 Comic Relief Recovery Fund 5 Access to Justice Fund 4 Nationwide TOTAL FUNDS	Incoming resources £ 1,120,408 - 1,120,408 69,764 41,195 88,289 18,016 15,913 58,733 20,000 26,770 112,300 36,070 92,745 25,985 34,000 5,117 19,182 99,604 12,959 522,927 132,767 3,137 25,303 22,639 77,798 653,252 341,429 21,820 24,890 3,501 952 1,612 42,188 32,000 75,000 17,713 2,775,570 3,895,978	Resources expended £ (824,389) (3,077) (827,466) (69,764) (41,195) (88,289) (18,016) (15,913) (58,733) (20,000) (26,770) (112,300) (36,070) (92,745) (25,985) (34,000) (5,117) (19,182) (99,604) (12,959) (522,927) (132,767) (3,137) (25,303) (22,639) (77,798) (653,252) (341,429) (21,820) (24,890) (3,501) (952) (1,612) (42,188) (32,000) (75,000) (17,713) (2,775,570) (3,603,036)	Movement in funds £ 296,019 (3,077) 292,942 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 292,942

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20. MOVEMENT IN FUNDS - continued

Restricted Funds

Further description of each material fund which includes source of funding and nature of restriction:

Note 1 - Specialist Housing Advice Service Network

Funding from the Welsh Government to cover staff and support costs to provide Housing Advice services throughout Wales.

Note 2 - Specialist Housing Advice Services (Local Authorities)

Funding from Local Authorities to cover staff and support costs to provide Housing Advice services within specific Local Authority areas.

Note 3 - Independent Housing Support Services

Funding from the WG (Supporting People Revenue Grant) via Local Authorities to cover staff and support costs to provide independent housing support services within specific local authority areas.

Note 4 - Other Projects

Grants from various agencies to fund specific projects.

Note 5 – Covid Funding

Emergency funding received to support the impact of the pandemic.

Designated Funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Infrastructure Improvements The Harris Fund Covid 19 Fund Strategic Reserve Fund	Balance at Balance at Balance at 1 October 1 October 30 September 2019 2020 2021 £ £ £ 9,158 6,081 6,081 131,745 131,745 113,473 - 173,447 - - - 500,000 140,903 311,273 619,554

Funds are designated for the following purposes:

Fund Infrastructure Improvements The Harris Fund

Purpose To be in invested in IT.

To be used for the relief and prevention of homelessness within the City and County of Swansea.

Period to be used

To be used within 2 years.

To be used within 4 years.

Strategic Reserve Fund Funds required for future investments to To be used within 4 years. support the development of the 2025 Strategy

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21. EMPLOYEE BENEFIT OBLIGATIONS

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.

The charge to profit and loss in respect of defined contribution schemes was £126,764 (2020: £136,531). Amounts outstanding at the year end totalled £16,256 (2020: £16,082).

22. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30 September 2021.

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