2022-09-30-accounts

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

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

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 2022

	Page
Report of the Chair	1
Report of the Trustees	2 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	46

WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

REPORT OF THE CHAIR FOR THE YEAR ENDED 30 SEPTEMBER 2022

At the time of last year's annual report, I was Chair Designate, taking over from Shayne Hembrow, our former Chair, at the end of his successful term in March 2022. The senior management team and Trustees join me in putting on record the deep appreciation we hold for the vast contribution that Shayne made over his eight year term with Shelter Cymru.

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 work to raise awareness of the acute impact of housing injustice and to tackle the root causes of homelessness.

We have navigated some difficult challenges delivered by the pandemic over the year and face a cost of living crisis. Prior to the cost of living crisis, the housing emergency impacted 1 in 3 people in Wales. Since then, homelessness in Wales has risen to unprecedented levels, as have social housing waiting lists, with many people across Wales struggling to find and keep a suitable home; a home that they can afford.

It is more important now than ever that Shelter Cymru is here to help individuals in housing need today. It's vital also that we keep focused on preventing homelessness in the first place, and on ensuring that we work over the longer term towards a future where everyone in Wales can rely upon a suitable home that they can afford.

During the year, and with our partners, we published an independent cost benefit analysis as part of our longstanding Back the Bill campaign. It provides a compelling 'invest to save' case for legislating for a right to adequate housing in Wales. It's a timely reminder, in an austere economic climate, that 'Home is Everything'. Home is at the centre of our personal, social and economic lives, and the foundation of our health and wellbeing. When people's basic housing needs are not met, it has far reaching consequences for individuals, and also for the wider socio-economic wellbeing of Wales and its people.

Shelter Cymru has helped 10,118 households this year and continues to play a leading role in the cross-sector partnership in Wales which is committed to ending homelessness. This has been achieved by a dedicated team of staff and volunteers, and with the strategic support of an effective board of trustees. My admiration and respect for these colleagues is almost limitless. Their commitment, to ensure that Shelter Cymru always puts the care and service to those who need us above all else during difficult times, is extraordinary. I cannot thank them enough.

We can achieve a Wales where everyone can count on a good, secure, and genuinely affordable home. Shelter Cymru's work is not done until we get there.

Michael Theodoulou

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 2022

It's been another turbulent year. Our 2025 Strategy has provided clear direction for our charitable activities and enhanced our resilience by helping us plan for the future, whilst facing the challenges of today. And those challenges are considerable. A year which began grappling with the ongoing impact of Covid, is ending with a cost of living crisis; the full effects of which on our beneficiaries, staff and charity are yet to be realised.

People are in housing need. When I wrote last year of unprecedented levels of homelessness in Wales, I did not expect to be saying now that the upward trend has continued over 2021/22 and will continue for the foreseeable future. The cost of housing crisis, understood only too well by private renters, is now affecting those whose mortgages are impacted by rising interest rates. And let's not forget the 'hidden households' for whom a place to rent or buy is increasingly out of reach; the hidden homeless sleeping on sofas and in cars; or the people surviving on the streets, whether they are have been officially 'counted' or not.

Like many other employers in a tight market, retention and recruitment has been more difficult. Whilst we have benefitted from opportunities to diversify our staff and to attract new skills, in the short term a more fluid labour market has inevitably impacted capacity - which makes the 10,000+ households we have again helped this year all the more hard won. However, demand for our services continues to outstrip supply and we are increasingly focused on adapting to the expected further increases in demand to come. During the year, we took the first steps towards developing a new case management system to improve staff experience, deliver efficiencies and enable us to more easily communicate our casework and its outcomes.

We also resumed routine face to face services, but found that people's appetite for remote advice had remained relatively high, which inadvertently creates challenges for us in drawing down Legal Aid funding. We've not returned to old ways of working, introducing new, more flexible, hybrid working arrangements for all staff. We don't expect to 'recover' from the pandemic; rather we will continue to adapt and learn, increasingly focused on responding to the socio-economic crisis. We will continue to grow our use of digital ways of working, whilst being mindful of our individual beneficiaries' needs, and the resilience and wellbeing of our staff. We are pleased that our social media platforms and Advice Online resources have achieved increased reach, taking clear and accurate information to people in housing need; and pleased also to have invested in supporting our 'People' this year.

At the start of the year, our campaign to introduce a right to adequate housing (RTAH) in Wales was boosted by an early success - the Programme for Government commitment to a White Paper on the RTAH; the independent cost benefit analysis that we commissioned with our partners, therefore found a ready audience when recently published. We've also been heavily focused on the introduction of the Renting Homes (Wales) Act 2016, as the major training provider to the sector; we chalked up a major campaign success by using legal arguments to persuade the Welsh Government to apply six months' notice to all no-fault evictions, which will benefit thousands of renters across Wales. We've highlighted the injustice of illegal evictions and campaigned on issues of access, discrimination and affordability in the private sector; and continued to press for more homes for social rent. We remain an active member of the Ending Homelessness National Advisory Board, which advises Julie James MS, the Welsh Government minister responsible for ending homelessness; we chair the third sector Homes for All Cymru network and brought a range of experts and activists to audiences in Wales via our 2022 People & Homes conference, and via our secretariat role for the Senedd's Cross Party Housing Group.

Shelter Cymru is passionate about giving visibility and voice to people at the sharp end of the housing emergency. We are the proud provider of a unique pan-Wales housing advice service, which gives weight to our policy work. Internally, we rely upon robust finance, fundraising and people functions to support our work. But our work is also enabled by support from the Welsh Government, trusts, foundations and corporate partners; the generous support of individuals; and the willingness and commitment of our many cross-sector partners in the Fight for Home.

If you support our Fight for Home in Wales, we would love to hear from you.

Ruth Power Chief Executive Office

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2022

OBJECTIVES AND ACTIVITIES 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

2. 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.

3. Fight for good homes

4. 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 2022

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 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, our annual staff survey for 2022 will be rolled out in before the end of 2022.

Highlights for 2021-22 include:

• 17,953 people helped by our advice and support services making up 10,118 households. The total

• people helped included 5,725 dependent children and 12% of people using our services were aged between 16 and 24 years old.

• 64% of all households helped were facing or actually experiencing homelessness.

• • 44% of all cases involved tenants from the private rented sector.

• A record 487,199 unique visits to our Advice on Line service, offering accurate information and a range of digital self-help resources.

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

• • Homelessness prevented in 87% of relevant face to face advice cases where outcome was known. * 80% of households helped felt better able to deal with their affairs in the future. * 92% of users were satisfied or very satisfied with the face to face advice service.

• 265 households helped by our debt advice services in Bridgend, Carmarthenshire, Gwynedd and Swansea and 96 prisoners advised on housing, homelessness and welfare benefits in HMPs Altcourse, Berwyn and Styal, with an emphasis on homelessness prevention.

• 133 street homeless people have been assisted into accommodation by our Street Advice Cymru project.

• We represented at 387 possession hearings through our national Court Duty Desk service.

• • Our Legal Team of solicitors became involved in 63 cases of potential or actual litigation. * Worked intensively to support 90 households using our North Wales floating support services.

• Continued to deliver our rural Housing First Project in Gwynedd supporting 16 people with complex needs to move from street towards settled homes.

• Training over 65 organisations and over 2,450 training delegates, with 98% of delegates rating training as excellent or good.

• 3,476 regular donors and campaign supporters at year end.

• Income generation via the Fundraising team for general fundraising, and Charitable Activities reached £930,135, accounting for 22% of total income.

• Publishing with partners, an independent cost benefit analysis on the impact of introducing the right to adequate housing into Welsh law, which found that every £1 spent on realising the right to adequate housing would generate £2.30 in benefits.

• Securing a Governmental commitment to a White Paper on rent controls and the right to adequate housing.

• Campaigning against discrimination in private renting, raising awareness among renters of their rights to challenge discrimination, and publishing a report on landlord attitudes.

• Persuading the Welsh Government to apply six months' notice to all no-fault evictions.

• Action on illegal evictions, raising tenants' awareness of their rights and landlords' awareness of their responsibilities; working with the police to ensure officers know how to intervene effectively.

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2022

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 2021/22 new or continuing collaborative work was undertaken with partners, including the following:

Bevan Foundation Bridgend CBC Carmarthenshire CC Cartrefi Conwy Chartered Institute of Housing Cymru Citizens Advice Cymru Clwyd Alyn Housing Association Conwy CBC Community Housing Cymru Crisis Cymorth Cymru Denbighshire CBC Flintshire CC Grwp Cynefin Gwynedd CC HMCTS HMPPS Legal Aid Agency Llamau Local Authority Homelessness Network Ministry of Justice Nacro National Residential Landlords Association NUS Cymru Police: North Wales, Gwent, South Wales, Dyfed Powys Pobl Group Rent Smart Wales Shelter Shelter Scotland Stonewall Cymru Swansea CC Tai Pawb TGP Cymru The Wallich Vale of Glamorgan CC Voices from Care Cymru Wales and West Housing Association Warm Wales Welsh Local Government Association Welsh Council for Voluntary Action Ynys Môn 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 18).

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2022

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.

OBJECTIVES AND ACTIVITIES ACHIEVEMENTS AND PERFORMANCE

Finances and service capacity

The year has seen an 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 an increase in our Legal Aid income as we rebuild from the impacts of Covid.

Whilst the patterns of demand remain altered in the aftermath of 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 cost of living crisis is felt across Wales. We will review our ways of working to ensure that we are as responsive as possible 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, arising particularly from digital and hybrid working 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 invest in our staff as per 2025 Strategy, and we aim to continue to be able to invest from reserves when possible in order to contribute to our strategic aims.

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2022

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.

Nearly 18,000 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, its projects or the Shelter Cymru Live telephone and webchat advice service. 64% of the people helped were facing or actually experiencing homelessness.

The housing and benefit context in which our advice service operates remains 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 compounded by a significant rise in rents and mortgage rates and by the impact of the cost of living crisis. In May, after almost two years of delivering services only by phone, our community-based housing advice teams restarted over twenty advice surgeries in well-used, accessible community venues, ensuring that once again face to face advice was available across Wales to those who need or prefer it.

44% 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' section 21 eviction notices, or experiencing poor conditions or harassment. With Local Housing Allowance rates not keeping pace with rents, and with rents in the sector increasing at an unprecedented rate, many tenants, particularly those in low paid work, struggle with arrears.

Given these challenges it is remarkable that in 87% 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, 80% of those responding said they felt more confident in tackling future problems as a result of Shelter Cymru support.

'Exactly the info I needed, with relevant links to government website included.'

'Shelter Cymru has always been a great resource and support for many of my clients I have referred.'

'Your adviser answered my worries straight away and advised me what I need to do if it continues or gets worse.'

'My mind has been put at rest, 'following the conversation I had with your adviser today.'

'Very helpful - knowledgeable, specific info to my situation, really good having some personal assistance, not just me reading pages of info to see what applies.'

'I found the Shelter Cymru live webchat much easier than calling and gave you more time to think about what you wanted to say. Personally it's much less anxiety inducing than waiting to get through on the phone.'

'I spoke to your adviser and she was very helpful and helped to put my mind at ease during this extremely stressful time.'

'Nothing more to add apart from I felt the service provided to me was extremely professional and assisted me greatly with the conflict I was having with my Landlord. Thank you so much for the help!'

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2022

'Your adviser was helpful, professional and gave me the information I needed, in a way I could understand.'

Although two-thirds 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 2021-22, 487,199 unique visits were made to the Advice Online webpages.

We represented at 387 possession hearings through our national Court Duty Desk service. Our Legal Team became involved in 63 cases of potential or actual litigation, often helping to enforce access to people's housing rights.

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, with over 40% of people using our services recorded as experiencing mental health issues.

We continue to see young people being affected by housing issues and during the year, with continued support from Welsh Government, Shelter Cymru has maintained its enlarged telephone and webchat Shelter Cymru Live service capacity, allowing 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.

Specialist housing-related debt advice was provided in conjunction with the housing caseworker service in Bridgend, Carmarthenshire, Gwynedd and Swansea. During the year, over 265 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 £53,700 and £454,805 of debt has been written off.

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2022

Projects (con’t)

Prison Link Cymru (PLC) had a busy year. HMP Berwyn continued to be the main referrer. 96 clients were advised. The focus of this service was remodelled part way through the year. We are now offering a service to those offenders with complex housing and other needs from 12 to 6 months pre-release. PLC works intensively with the person in prison to establish their housing wants and needs, and also look at and learn from their previous releases where housing provision has not worked. We continue to work with the relevant local authority, housing providers, health services and probation, with multi-agency meetings being held to discuss how best to assist the person with rehousing, bearing in mind any relevant restrictions.

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. During the year, 133 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. This year, in line with our strategic priorities, we expanded the focus of our lived experience work, seeking to embed lived experience involvement across all aspects of the charity's work. Early progress was made in establishing a single gateway for people with lived experience who want to support Shelter Cymru's work. Their contribution is not only an effective way of communicating the lived experience of poor housing and homelessness to others but also provides additional capacity to the charity and helps people develop new skills and experience.

During the year, we have continued to support a team of people with lived experience, offering training and opportunities to contribute their experience to multi-agency housing policy meetings and have agreed pieces of work with three local authorities to capture feedback on the experience of making a homeless application and going into temporary accommodation.

Public campaigning and building a movement for change

This year we have prioritised public campaigning on behalf of renters, particularly private renters. We launched a report (Can I get a Home) and an associated campaign to combat discrimination in the private rented sector, including 'no DSS' and other forms of discrimination. We created a reporting portal for renters to report cases of discrimination and we worked with Rent Smart Wales, the landlord licensing authority, who agreed to follow up on every allegation. A total of 31 instances of discrimination were reported to Rent Smart Wales during the year.

We established good working relationships with private renters' groups around Wales and began planning to coordinate a national campaign to pursue our shared goals for legislative reforms that respect tenants' human rights to a good home.

We published two reports in partnership with NUS Cymru highlighting the impact of bad housing on students' mental health and educational attainment. We also worked hard to prepare for the implementation of the Renting Homes (Wales) Act 2016, which from 1 December 2022 changes tenancy law for around a million people in Wales who live in socially and privately rented homes. As a leading expert in housing rights we have been providing related training (to 745 delegates) and online resources to raise awareness of the Act and help tenants and a wide range of stakeholders to understand the changes. We continue to run a 'Renting is Changing ' online campaign to complement the Welsh Government's communications campaign.

Our social media platforms remain among the most-followed channels of all Welsh charities. On Twitter and Facebook our following has grown to 14.5K and 8K respectively, with a reach of 134K and 477K. On Instagram our following is 1.5K with a reach of 153K. We continue to build our use of TikTok and LinkedIn to reach new audiences for advice promotion, fundraising, campaigning and recruitment.

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2022

Influencing policy and practice

Shelter Cymru has campaigned to tackle the root causes of homelessness since our earliest days. Our casework gives us a unique insight into the underlying systemic problems that push people into homelessness and housing need. It provides robust evidence that can drive changes in practice, policy and law.

This year we refined our process for identifying our policy and campaigning priorities to enable us to maximise our impact within available resources, asking ourselves key questions such as: is it a widespread issue or an acute issue in our casework? Is it a fundamental driver of the housing emergency, causing people to have to use our services? Do we have a good chance of making positive change?

We've achieved significant influence this year, in a number of ways.

Private renters' rights

We were one of the first organisations in Wales to highlight the growing number of section 21 no-fault eviction actions, which showed up in our casework long before showing in court statistics. We were successful in asking the Welsh Government to amend the Renting Homes (Wales) Act 2016 to apply the longer six months' notice period to existing converting tenancy contracts, as well as new ones created after 1st December. While the Government decided to bring the change into force in June 2023, rather than six months earlier as we had asked, this will nevertheless mean an end to short-notice no-fault evictions within months rather than years, as it likely to have been the case without our intervention.

We have also taken action on illegal evictions, which were elevated in our casework during the pandemic. We worked with Rent Smart Wales to improve their mandatory training for landlords and agents, so that all landlords and agents in Wales will receive training informed by our casework experiences, so that they are clear which behaviours to avoid. We also worked with the four police forces to co-produce guidance for police on how to intervene effectively in cases of illegal eviction.

Ending homelessness

Our CEO sits on the relevant Welsh Government Minister's Ending Homelessness National Advisory Board, a key forum for influencing high-level direction on homelessness policy and for informing and supporting the delivery of the Welsh Government's plan to ending homelessness. Shelter Cymru has spearheaded exploratory work between housing and health towards ending homelessness, assisted in the development of a new outcomes framework, and advised on rapid rehousing transformation.

We carried out a significant amount of press and media work on the current pressures in temporary accommodation, with the aim of raising public awareness of the realities of homelessness and helping to keep up momentum towards solutions.

Towards the end of the year, we began involvement in the Welsh Government's homelessness legislation expert review panel, which has been tasked with recommending changes to legislation to support the aim of ending homelessness. The panel is due to report in mid-2023.

Addressing housing affordability

In our press and media work a key message has been that private rents have increased faster in Wales than anywhere in the UK outside London. We held a series of briefings through the Cross Party Housing Group to bring in independent expertise to talk about solutions to the housing affordability crisis. We heard expert speakers on defining affordability; on the role of planning; and on the cost of land. Each session has been attended by a diverse audience including Senedd and local authority political representatives. We also brought in expertise to our annual conference (below) to raise awareness of the policy implications of different rent regulation models.

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2022

OBJECTIVES AND ACTIVITIES

Housing as a human right

Ending the year on a high note, we published our cost benefit analysis on the impact of introducing the right to adequate housing into Welsh law, as part of our longstanding Back the Bill campaign. The independent analysis, commissioned from Alma Economics, concluded that every £1 spent on realising the right to adequate housing would generate £2.30 in benefits. Together with our campaigning partners, Tai Pawb and the Chartered Institute of Housing Cymru, we succeeded earlier in the year in influencing the Programme for Government, securing a commitment to a White Paper on rent controls and the right to adequate housing. The cost benefit analysis lines us up to influence the forthcoming Welsh Government Green Paper, and we note a growing warmth in Government discourse towards the principle of progressive realisation that we have promoted throughout our campaign.

Education, training and events

We held our first in-person People & Homes conference in three years in Swansea. Around 120 delegates attended - a highly diverse crowd including tenant activists, private landlords, Welsh and local government representatives and social landlords. Keynote speakers included London-based social housing activist Kwajo Tweneboa and journalist Taj Ali who led a discussion on gentrification; 90% of delegates rated the event excellent to good.

We also held a webinar on 'opening up the private rented sector' in January, attended by around 150 delegates. We heard speakers on a range of subjects including rent regulation in Ireland; Local Housing Allowance and homelessness; and our own research on discrimination against private renters.

Training demand has been exceptionally high, mainly due to the forthcoming Renting Homes (Wales) Act 2016. Over the year we trained 2,450 delegates from 65 organisations, with a satisfaction rate of 98%. Nearly a third of training provided across the year was on the Renting Homes (Wales) Act 2016.

Our national education service supports the provision of homelessness prevention and leaving home education to young people in schools, colleges and other settings. This year we undertook a detailed mapping exercise of education activity, with a focus on at-risk groups. This will help us identify where gaps need to be filled. We also conducted direct delivery of leaving home education to a group of care experienced young people, and made preparations to deliver accredited training to a cohort of young people in Parc Prison in 2022/23.

Volunteer work

Volunteers have always played a crucial role in Shelter Cymru's vision to prevent and to ultimately end homelessness. During 21/22, we continued our strategic focus on 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 have operated our Pathways project, which has so far provided two cohorts of trainee advisers to assist with our webchat and helpline service. Twenty-four volunteers have participated in the Pathways project over the year, giving 1,064 hours of their time to the organisation and assisting 158 households in housing need.

Investing in staff

We are mindful of the increased pressures on all staff, ongoing since the start of the pandemic, and not least our front line staff who may experience, at times, extreme stress and vicarious trauma. To this end, during 21/22, we employed a dedicated Workplace Counsellor to promote healthy ways of working, to lead on establishing reflective work practices and to be available for one-to-one crisis counselling.

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2022

OBJECTIVES AND ACTIVITIES

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, specifically in relation to Cost of Living support and guidance. Our Wellbeing Group, formed from staff across the organisation, also continued to operate enabling Shelter Cymru to have an ongoing dialogue with staff in respect of their wellbeing. The formalised introduction of hybrid working also offers staff greater flexibility in where they work that will help Shelter Cymru be more effective, recruit from a wider pool of potential applicants and better support staff wellbeing.

In addition to our core training offer for staff, under our staff development policy, we continue to provide 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 continued to develop our middle managers following the training needs analysis conducted in 2021 and implemented improvements to our staff induction to reflect new ways of working.

In the latter part of the year, we appointed a Head of People and Organisational Transformation to provide the capacity at SMT level that we require to drive forward our 2025 Strategy priorities in relation to building the resilience and capacity of the organisation. The Pay and T&C Review to which our 2025 Strategy commences in earnest in 2022/23. This work will help ensure Shelter Cymru's charitable aims are met and we are able to offer an attractive and affordable pay and benefits package that supports retention of employees and skills, and assists with candidate attraction. It will also inform planning of development and career paths. As the cost of living crisis bites, investing in our people to ensure we can meet our charitable aims has never been more important.

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2022

STRATEGIC REPORT

Financial strategy

This year represents the second 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 continued to be challenging with continuation / recovery from the pandemic and the emerging impacts of the cost of living crisis. There has been an overall decrease in our income with improvement in Charitable Activities and Training income and reductions in Fundraising which has faced a challenging environment with delayed / cancelled events and impact of the cost of living on regular giving. Despite these challenges Shelter Cymru exceeded its budget target for the year.

The challenge for the organisation is to maintain income levels as we recover from Covid's impact and face the significant challenges from the Cost of Living Crisis. Efforts continue to identify cost savings through new ways of working, including enhancing the use of digital technology and hybrid working to respond to fluctuations in income. These, together with the improvement in Charitable Activities income contributed significantly to Shelter Cymru being able to end the year with general reserve levels higher than the reserve policy. The improved reserves position will support the organisation with challenging budget for 2022/23 as the Cost of Living impacts further.

Shelter Cymru received incoming resources of £4,247,083 of which £317,664 (7%) was spent on generating funds, £3,360,643 (85%) was spent on direct charitable activities. Net incoming resources for 2021/22 were £298,776 (7%), a decrease 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 2022/23 with ongoing impacts of Covid 19 and the Cost of Living crisis. 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 recovery from the Coronavirus pandemic and the Cost of Living Crisis going forward.

The key results for 2021/22 included:

• Fundraising Team generated general fundraising income of £620k plus £310k for Charitable Activities across the organisation - representing 22% of total income

• Charitable activities income of £3.6m; an increase of 10% on the previous year.

• 85% 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 (£702k), Legal Aid (£283k) and fundraising income (through donations, legacies, trusts and events, of £620k). Expenditure of £3.0m has enabled our Housing Services to assist nearly 18,000 people. Campaigns expenditure of £402k has supported our policy, lobbying and campaigning work; £318k 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 £299k excluding transfers from Designated reserves. The general reserve at the year end increased to £2,026,087 as a result of the operational outcome. There was some designated reserves expenditure during the year which has reduced the designated reserve level to £600,332 at the end of the year.

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2022

STRATEGIC REPORT Financial review

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 2025 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 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. The Trustees review the reserve levels on an annual basis and for 2021/22 the target level was set at £1,092k for general reserves, this represents three months of costs. The reserves target for 21/22 is £1,251k The Board have set a target to increase general reserve to four months of costs by the end of the 2025 Strategy - £1,668k. At the year-end, actual general reserves were £2,026k this includes an amount of £11k which can only be realised by disposing of fixed assets. At the year-end general reserves is equivalent to 4 months costs plus anticipated deficit for 22/23.

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 £105k which is in line with expectations. It is anticipated that this fund will be used within a period of 5 years.

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2022

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 spent by the end of September 2021.

Strategic Reserve Designated Fund

The Trustees set up a Designated Strategic Reserve to 'earmark' funds in excess of general reserve targets to support the implementation of the 2025 Strategy. The Fund is expected to be spent by the end of September 2025. At the year end the Designated Strategic Reserve was £489k. During the year the Board has allocated £259k for expenditure in 23/24 for the development of a new Case Management system and to build resilience and capacity in our People function.

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

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 have conducted a review of the risk register during the year to continue to develop and refine risk management and control processes. The Risk Register is reviewed quarterly by the Board of Trustees, with the Board's two Committees also having specific responsibilities within their terms of reference for supporting the Board in its scrutiny of risk.

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2022

STRATEGIC REPORT

The Trustees have identified the major risks facing the charity are loss of public funding for its services and projects during the cost of living crisis; Insufficient funding / diversification of funding; Responding to the needs and expectations of staff during a period of recovery and change, Inability to recruit / retain suitably skilled and motivated staff. 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 during 2021/22 with a view to considering investing surplus cash. The trustees have agreed to invest funds via Brewin Dolphin, Investment Managers. The investment portfolio is 'Investing for Growth' applying a medium risk Category of 5. An investment of £500k will be made at the start of the 22/23 financial year. The investments are subject to quarterly review by the trustees who monitor cash flow to ensure liquidity remains adequate to meet operational needs of the organisation.

Fundraising

Financial Performance

The Covid-19 pandemic, swiftly followed by the cost of living crisis, had a significant impact on our ability to raise funds at a time when demand for our services is increasing. 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 don't want anyone in Wales to face homelessness alone.

Despite the ongoing disruption and unpredictable changes in donor behaviour, our Fundraising team raised an impressive £930,135 (£620K fundraising income and £310K charitable activities income) across the organisation, surpassing our target for the year and ensuring that we could continue to help thousands of people in housing need. Income generated by the team represents 22% of the total income received by the Charity during the financial year.

Total expenditure on Fundraising was £321,413; consistent with the previous financial year. The organisation - wide return on investment on income raised during the year was 2.89:1.

In response to the decline across some income streams, impacted by the external environment, we adapted as needed and offset potential losses by over-performing in other income areas. Individual Giving remained strong, generating over £200,000; much of this can be attributed to the success of our winter fundraising campaign which, once again, surpassed the previous year's total. Over £122,000 was generated through our local and national corporate partnerships, demonstrating the unwavering commitment of the business sector in supporting our fight for home.

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2022

STRATEGIC REPORT

Despite another strong performance this year, we remain concerned about the medium-term picture for our fundraising efforts. Our events programme will continue to face challenges, due to the external environment, for some time, and any decline in the acquisition and retention of monthly donors will have an impact on our finances in both the short and long term.

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.

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 1 (zero). The number of Fundraising complaints received and reported to the Fundraising Regulator was 0 (zero).

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2022

STRATEGIC REPORT

Principal fundraising activities

Shelter Cymru benefits from a very broad and diverse supporter base. Supporters donate in a wide variety of ways. In 2021/22 these included:

• Regular donations - 705 supporters made regular donations, usually on a monthly basis.

• Individual donations - for example, from supporters responding to a specific appeal (eg Christmas) or making an ad hoc donation.

• Community fundraising - community-based activities or challenge events that took place in support of Shelter Cymru, organised by people and groups throughout Wales.

• Events - many people participated in virtual and in-person local and national events to raise funds. From raffles to races, the breadth of ways in which participants supported was vast.

• Corporate fundraising - local and national corporate partners chose to give in as many ways as they could in an unpredictable economic climate. They did this via direct donations, in-kind support, 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 - many private funders supported our work during the financial year, contributing to both core costs and designated project work/ service delivery.

• Legacies - more than 16% of our fundraised income was via legacy gifts this year, where supporters chose to give a gift to Shelter Cymru in their Will.

One of our priorities for 2021/22 was to create and deliver a funding and income generation strategy that supports our charitable aims and supports our independence. As we enter another uncertain financial year, the environment in which we operate will continue to bring new challenges, but also opportunities At the start of 2022/23 we launch our new Fundraising & Income Generation Strategy, and we will 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 to enable Shelter Cymru meet its charitable aims.

Thank you

We would like to acknowledge the following organisations for their financial support during the last 12 months:

Trusts & Foundations

Trusts & Foundations Corporate Partners Arnold Clark Community Fund ASDA Foundation Community Justice Fund Aspire Training Team Pontlliw & Tircoed Community Council B&Q/ Kingfisher Rhoddwyr Charitable Trust Berry Smith LLP Royal British Legion Collect My Clothes Simon Gibson Charitable Trust Duni The Albert Hunt Trust FatFace The Moondance Foundation Ferryman Ltd The National Lottery - Covid Response Fund HSBC UK The P E Brooks Charitable Trust Knights Brown The Pentwyn Trust Lloyds Bank Foundation The Tyldesley Charitable Settlement M&S Wales Council for Voluntary Action Monmouthshire Building Society Mooneerams Ltd Myddfai Trading Company Ltd Nationwide Building Society Sainsburys The Alchemist Waitrose Wayfair

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2022

STRATEGIC REPORT

PLANS FOR THE FUTURE

Our 2025 Strategy guides 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 cost of living crisis continues to be felt by communities across Wales. It will intensify the pre-existing upward trend in demand for our services, which was exacerbated by the pandemic, and creates a challenging context for both our beneficiaries and our donors/supporters.

Over the coming year, we will:

• Assess and mitigate the risks presented by the cost of living crisis to: our beneficiaries; demand for services; and our staff and our finances. And we will continue to seek creative and more efficient and effective ways of delivering or charitable aims.

• Review the interfaces between our different housing advice service channels and continue progress towards a new case management system to ensure we are making best use of our channels and resources to help more people.

• Champion the prevention of homelessness, across all housing tenures,

• Campaign for everyone in Wales to have the right to secure and suitable home that they can afford; and advocate for more social homes.

• Campaign to improve the security and affordability of private rented homes and continue to highlight and challenge discrimination in the rental market.

• Influence Welsh Government policy and legislation and monitor implementation of the Renting Homes (Wales) Act

• Undertake a Pay & Benefits Review to ensure we are a fair and attractive employer.

• Review our IT/Digital Strategy

• Implement our Fundraising and Income Generation Strategy to power our Fight for Home.

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 committees of the Board and overall operational management is delegated to the Chief Executive Officer and Senior Management Team.

The Board currently has 13 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, which are periodically audited; the next audit is due in early 2023. 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.

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT The Board and Governance Developments In 2021/22:

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 Committee (GC) met on four occasions during the year, chaired by the Vice-Chair of the board. 1 Trustees stood down during the year due to end of term (our former Chair, Shayne Hembrow). GC oversaw Trustee recruitment; provided scrutiny and assurance in respect of areas such as Health & Safety, Whistleblowing and Safeguarding; developed proposals for the Board in respect of Trustee appraisal; and led a review of governance which resulted in revised Terms of Reference for both of the Board's Committees.

The Finance Audit Committee (FAC) maintained its quarterly overview of the financial and risk 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 FAC was able to provide positive reports on all aspects of Shelter Cymru's management.

Five new Trustees were appointed during the year - including our new Chair, Mike Theodoulou -bringing additional skills and filling gaps identified by a Skills & Diversity Audit

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 People and Organisational Transformation (appointed in year), Joint Heads of Housing Services (x 2) and Head of Fundraising) 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. In 2022/23 a whole organisation Pay and Terms & Conditions Review is planned, and will benefit from the input of independent consultants.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

01830262 (England and Wales)

Registered Charity number

515902

Registered office

25 Walter Road Swansea SA1 5NN

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2022

Trustees

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) stood down 10/03/2022 Andrew Weltch Nuria Zolle Trystan Jones John Daniel Charles Millington Ceri Breeze Meri Huws Noela Jones Andrew Clennell (Treasurer) Michael Theodoulou (Chair) appointed 10/03/2022 Chery Tracy appointed 23/06/2022 Rhian Edwards appointed 23/06/2022 Gareth Leech appointed 23/06/2022 Miguela Gonzalez appointed 23/06/2022

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

Key Management Personnel

Ruth Power Keeli Parker Kerys Sheppard Janet Loudon Jennie Bibbings JJ Costello Samantha Tucker

Chief Executive Officer Head of People and Organisation Transformation Head of Fundraising Joint Head of Housing Services Head of Campaigns Joint Head of Housing Services Head of Finance

Company Secretary

Ms R Power

Auditors

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

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 SEPTEMBER 2022

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

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 9[th] March 2023 and signed on the board's behalf by:

Mike Theodoulou - 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 2022 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 2022 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.

The notes form part of these financial statements

Page 23

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;

The notes form part of these financial statements

Page 24

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: ......09.03.2023................

The notes form part of these financial statements

Page 25

WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2022

Notes INCOME AND ENDOWMENTS FROM Donations and legacies 3 Charitable activities 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 Total Expenditure NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD		Unrestricted funds £ 619,851 345,270 8,408 208,761 25,384 1,173	Unrestricted funds £ 619,851 345,270 8,408 208,761 25,384 1,173	Restricted funds £ 284 2,906,227 51,944 - 76,432 -	Restricted funds £ 284 2,906,227 51,944 - 76,432 -	2022 Total funds £ 620,135 3,251,497 60,352 208,761 101,816 1,173	2022 Total funds £ 620,135 3,251,497 60,352 208,761 101,816 1,173	2021 Total funds £ 1,074,532 2,942,086 99,983 122,985 120,706 16,510
		588,996		3,034,603		3,623,599		3,302,270
		3,349		-		3,349		12
		1,212,196		3,034,887		4,247,083		4,376,814
		317,380 87,996 350,718 139,435 17,891		284 2,906,227 51,944 - 76,432		317,664 2,994,224 402,662 139,435 94,322		275,353 2,823,190 443,950 80,847 105,146
		596,040		3,034,603		3,630,643		3,453,133
		913,420		3,034,887		3,948,307		3,728,486
		298,776			-	298,776		648,328
		2,327,643 2,626,419			- -	2,327,643 2,626,419		1,679,315 2,327,643

The notes form part of these financial statements

Page 26

WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

BALANCE SHEET 30 SEPTEMBER 2022

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 19 Unrestricted funds TOTAL FUNDS	Unrestricted funds £ 10,862 110,412 311,152 2,871,515 3,293,079 (677,522) 2,615,557 2,626,419 2,626,419	Restricted funds £ - - - - - - - - -	2022 Total funds £ 10,862 110,412 311,152 2,871,515 3,293,079 (677,522) 2,615,557 2,626,419 2,626,419 2,626,419 2,626,419	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

The financial statements were approved by the Board of Trustees and authorised for issue on 9[th] March 2023 and were signed on its behalf by:

............................................. Mike Theodoulou - 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 2022

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 provided by/(used in) investing activities Cash flows from financing activities New loans in year Loan repayments in year Net cash provided by/(used in) 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	2022 £ 271,280 271,280 - 3,349 3,349 - - - 274,629 2,596,886 2,871,515	2021 £ 561,221 561,221 (7,963) 12 (7,951) 4,687 (18,750) (14,063) 539,207 2,057,679 2,596,886

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 2022

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income for the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Interest received Decrease/(increase) in stocks Decrease/(increase) in debtors (Decrease)/increase in creditors Net cash provided by operations 2. ANALYSIS OF CHANGES IN NET FUNDS At 1.10.21 £ Net cash Cash at bank 2,596,886 2,596,886 Total 2,596,886	2022 £ 298,776 5,316 (3,349) 24,849 69,212 (123,524) 271,280 Cash flow £ 274,629 274,629 274,629	2021 £ 648,328 4,336 (12) (45,674) (222,971) 177,214 561,221 At 30.9.22 £ 2,871,515 2,871,515 2,871,515

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 2022

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.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022

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.

Tangible fixed assets - 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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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2022

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.

Cash and cash equivalents

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.

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2022

1. ACCOUNTING POLICIES - continued

Basic financial liabilities (cont)

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.

Derecognition of financial liabilities

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

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 gifts Grants Donations and gifts Individuals, corporate bodies etc Tax refunds Legacy Shelter Partnership Income Fundraising income for Charitable Activities Sale of goods	Unrestricted funds 389,213 86,433 97,284 46,564 - 357 619,851	Restricted funds - - - - 284 -	2022 £ 620,135 - 620,135 Total 2022 389,213 86,433 97,284 46,564 284 357 620,135	2021 £ 1,052,469 22,063 1,074,532 Total 2021 609,087 32,284 334,195 57,378 17,713 1,812
		284		1,074,532

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.

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2022

3. DONATIONS AND LEGACIES - continued

Grants

Grants
Third Sector Resilience Fund for Wales Comic Relief Recovery Fund	Unrestricted funds - - -	Restricted Total funds 2022 - - - -	Total 2021 14,063 8,000
		- -	22,063

4. INVESTMENT INCOME

4. INVESTMENT INCOME
Deposit account interest 5. INCOME FROM CHARITABLE ACTIVITIES Activity Charitable Activities Housing Services Charitable Activities Policy & Campaigning Charitable Activities Training & Conferences Charitable Activities Research Charitable Activities Other	2022 £ 3,349 2022 £ 3,251,497 60,352 208,761 101,816 1,173 3,623,599	2021 £ 12 2021 £ 2,942,086 99,983 122,985 120,706 16,510
		3,302,270

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2022

5. INCOME FROM CHARITABLE ACTIVITIES - continued

Big Lottery Fund - Housing And Debt Advice Bridgend CBC CAIS Carmarthenshire CC - SWBFAS Carmarthenshire CC - Debt Advisor Citizens Advice Secondment 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 Denbighshire Early Intervention Project Gwynedd CC Debt Advice Gwynedd CC Supporting People Grant Vale of Glamorgan CC Powys CC Access to Justice Ynys Mon LA Oak Foundation Henry Smith - Housing First Moondance Welsh Government - Prison Link Cymru and Prison Housing Advice Welsh Government - Helping More People Welsh Government - CAB Frontline Advice Money Advice Service Face-to Face Debt Advice Project WCVA Tolkien - SCL Advisor Other Income - Research, Training Etc Legal Aid Certificated Income Legal Aid Agency Contracts Job Retention Scheme	Unrestricted funds £ - - - - - - - - - - - - - - - - - - - 60,000 - - - - - - - - - - 246,272 71,058 211,666 - 588,996	Restricted funds £ 13,174 98,567 - 81,827 9,008 5,382 16,106 - 74,243 60,092 - 10,000 26,770 46,663 120,116 40,463 44,466 95,527 25,985 34,000 - 39,554 76,431 95,647 26,674 142,908 1,430,519 382,907 414 3,501 30,659 - - - - 3,034,603	Total 2022 £ 13,174 98,567 - 81,827 9,008 5,382 16,106 - 74,243 60,092 - 10,000 26,770 46,663 120,116 40,463 44,466 95,527 25,985 34,000 60,000 39,554 76,431 95,647 26,674 142,908 1,430,519 382,907 414 3,501 30,659 246,272 71,058 211,666 - 3,623,599	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

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WELSH HOUSING AID LIMITED T/A SHELTER CYMRU

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2022

5. INCOME FROM CHARITABLE ACTIVITIES - continued

Actual income received from Welsh Government was: PLC £147,170 (2021: £136,062) Helping More People £1,415,764 (2021: £1,380,574)

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 (2021: £17,000)

6. RAISING FUNDS

Raising donations and legacies

Staff costs Staff training and welfare Staff costs - other Travel Other direct costs Office Equipment Telephone Other administration Support costs	2022 £ 147,810 10 868 1,447 118,101 2,816 1,011 17,285 28,316 317,664	2021 £ 144,896 268 - 1,076 79,543 3,044 765 20,893 24,868
		275,353

7. CHARITABLE ACTIVITIES COSTS

CHARITABLE ACTIVITIES COSTS
Housing Services Policy & Campaigning Training & Conferences Research	Direct Costs (see note 8) £ 2,501,526 357,357 111,119 82,996 3,052,998	Support costs (see note 9) £ 492,698 45,305 28,316 11,326 577,645	Totals £ 2,994,224 402,662 139,435 94,322
			3,630,643

8. DIRECT COSTS OF CHARITABLE ACTIVITIES

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		2022 £ 2,586,543 33,436 29,283 10,481 287,116 4,951 15,784 58,830 26,574 - 3,052,998	2021 £ 2,588,317 16,634 8,193 2,984 185,573 (978) 42,357 51,947 45,626 201
			2,940,854

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2022

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	Support costs £ 201,745 7,038 11,916 5,068 969 180,922 64,798 15,767 83,561 - 571,787	Governance costs £ - - - - - - - - - 5,858 5,858	2022 £ 201,745 7,038 11,916 5,068 969 180,922 64,798 15,767 83,561 5,858 577,645	2021 £ 169,833 4,157 - 4,135 178 158,507 68,245 19,525 81,982 5,717
				512,279

10. NET INCOME/(EXPENDITURE)

The analysis of auditor's remuneration is as follows:

Auditors' remuneration Auditors' remuneration for taxation services Auditors' remuneration for other non-audit work	2022 £ 6,145 - 7,276	2021 £ 5,995 450 785

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 one trustee (2021: nil) was reimbursed for travel costs amount to £99.80 (2021: £nil).

1 trustee (2021: 1) waived travel expenses of £35.91 (2021: £116). Amounts donated by trustees totalled £879 (2021: £258).

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2022

12. STAFF COSTS

Employment costs

Wages and salaries Social security costs Other pension and life assurance costs Agency, redundancy, recruitment and other staff costs	2022 £ 2,575,834 230,940 139,218 42,651 2,856,612	2021 £ 2,551,638 213,805 145,847 8,193
		2,919,483

During the year redundancy/termination payments were made totalling £1,707 (2021: £7,500). 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	2022 87 8 5 2 5 6 113	2021 87 10 3 3 5 6
		114

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

£70,001 - £80,000

2022	2021
1	1

The total employer's pension contributions paid to defined contributions schemes for the higher paid employee was £3,129 (2021: £3,499).

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 £352,672 (2021 £358,397)

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2022

13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 1,034,756 Charitable activities Housing Services 237,503 Policy & Campaigning 6,183 Training & Conferences 114,104 Research 28,832 Other 16,510 Investment income 12 Total 1,437,900 EXPENDITURE ON Raising funds 275,353 Charitable activities Housing Services 96,544 Policy & Campaigning 332,437 Training & Conferences 71,966 Research 13,272 Total 789,572 NET INCOME 648,328 RECONCILIATION OF FUNDS Total funds brought forward 1,679,315 TOTAL FUNDS CARRIED FORWARD 2,327,643	Restricted funds £ 39,776 2,704,583 93,800 8,881 91,874 - - 2,938,914 - 2,726,646 111,513 8,881 91,874 2,938,914 - - -	Total funds £ 1,074,532 2,942,086 99,983 122,985 120,706 16,510 12
		4,376,814
		275,353 2,823,190 443,950 80,847 105,146
		3,728,486
		648,328 1,679,315
		2,327,643

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2022

14. TANGIBLE FIXED ASSETS

Improvements to property £ COST At 1 October 2021 and 30 September 2022 11,961 DEPRECIATION At 1 October 2021 6,985 Charge for year 1,938 At 30 September 2022 8,923 NET BOOK VALUE At 30 September 2022 3,038 At 30 September 2021 4,976 15. STOCKS Stocks Work-in-progress 16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors 17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Social security and other taxes Other creditors Accrued expenses Deferred Income	Fixtures and Computer fittings equipment £ £ 26,608 160,966 21,817 154,555 719 2,659 22,536 157,214 4,072 3,752 4,791 6,411 2022 £ 13,566 96,846 110,412 2022 £ 81,247 229,905 311,152 2022 £ 60,844 83,770 44,319 40,513 448,076 677,522	Totals £ 199,535
		183,357 5,316
		188,673
		10,862
		16,178
		2021 £ 16,599 118,662
		135,261
		2021 £ 70,276 310,088
		380,364
		2021 £ 31,550 73,607 22,986 60,141 612,762
		801,046

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2022

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR – continued

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 Income receivable at year end Amounts released Balance carried forward	2022 £ 448,076 2022 £ 612,762 2,869,917 - (3,034,603) 448,076	2021 £ 612,762
		2021 £ 435,096 2,980,380 96,424 (2,899,138)
		612,762

18. LEASING AGREEMENTS

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

Within one year Between one and five years 19. MOVEMENT IN FUNDS Unrestricted funds General fund Designated Fund - The Harris Fund Designated Fund - Infrastructure Improvements Designated Fund - Strategic Reserve Fund TOTAL FUNDS	At 1.10.21 £ 1,708,089 113,473 6,081 500,000 2,327,643 2,327,643	2022 £ 44,000 3,725 47,725 Net movement in funds £ 317,998 (8,169) - (11,053) 298,776 298,776	2021 £ 48,740 1,925 50,665 At 30.9.22 £ 2,026,087 105,304 6,081 488,947	2021 £ 48,740 1,925
				50,665
			2,626,419
			2,626,419

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2022

19. 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 - Strategic Reserve Fund Note Restricted funds 2 Bridgend CBC 4 Carmarthenshire CC - SWBFAS 2 Carmarthenshire CC - Debt Advisor 2 City & County of Swansea 4 Comic Relief - Tech for Good 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 Tolkien - SCL Advisor 4 WCVA 4 Big Lottery Fund - Housing and Debt Advice 4 Comic Relief - Rough Sleepers 2 Flintshire CC - Embedded Advisor 4 Henry Smith - Housing First 4 Citizens Advice Secondment 4 Denbighshire Early Intervention Project 4 Moondance 4 Money Advice Service Face-to-Face Debt Advice Project TOTAL FUNDS	Incoming resources £ 1,212,196 - - 1,212,196 98,567 81,827 9,008 16,106 63,092 10,000 26,770 120,116 44,466 95,527 25,985 34,000 39,554 76,431 142,908 1,430,519 382,907 3,501 30,659 284 13,174 74,243 46,663 95,647 5,382 40,463 26,674 414 3,034,887 4,247,083	Resources expended £ (894,198) (8,169) (11,053) (913,420) (98,567) (81,827) (9,008) (16,106) (63,092) (10,000) (26,770) (120,116) (44,466) (95,527) (25,985) (34,000) (39,554) (76,431) (142,908) (1,430,519) (382,907) (3,501) (30,659) (284) (13,174) (74,243) (46,663) (95,647) (5,382) (40,463) (26,674) (414) (3,034,887) (3,948,307)	Movement in funds £ 317,998 (8,169) (11,053) 298,776 - - - - - - - - - - - - - - - - - - - - - - - - - - - - 298,776

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2022

19. 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 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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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2022

19. MOVEMENT IN FUNDS - continued

Comparative 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 - Tech for Good 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 Tolkien - SCL Advisor 2 Nationwide Volunteer Coordinator 5 Third Sector Resilience Fund for Wales 5 Comic Relief Recovery Fund 5 Access to Justice Fund 4 WCVA 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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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2022

19. MOVEMENT IN FUNDS - continued

Actual income received from Welsh Government was: PLC £147,170 (2021: £136,062) Helping More People £1,415,764 (2021: £1,380,574)

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 (2021: £17,000)

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 2020 2021 2022 £ £ £ 6,081 6,081 6,081 131,745 113,473 105,304 173,447 - - - 500,000 488,947 311,273 619,554 600,332

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NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 SEPTEMBER 2022

19. MOVEMENT IN FUNDS - continued

Funds are designated for the following purposes:

Period to be used

Fund Purpose Period to be used Infrastructure To be in invested in IT. To be used within 3 years. Improvements The Harris Fund To be used for the relief and prevention of To be used within 5 years. homelessness within the City and County of Swansea. Strategic Reserve Fund Funds required for future investments to To be used within 4 years. support the development of the 2025 Strategy

20. 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 £119,602 (2021: £126,764). Amounts outstanding at the year end totalled £17,951 (2021: £16,256).

21. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30 September 2022.

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