Registered charity number.. 522572 SCOUTSCYMRU REPORT OF THE TRUSTEES AND FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
SCOUTSCYMRU CONTENTS FOR THEYEAR ENDED 31 MARCH 2024 Page Trustees, Report 1-39 Independent Auditorfs Report 40-42 Statement of Financial Activities 43 Balance Sheet Statement of Cash Flows 45 Notes to the Financial Statements 46-59
scoITrscYMRU REPORT OF THE TRUSTEES FOR THEYEAR ENDED 31 MARCH 2024 The Trustees are pleased to present thelr annual report together with the financial statements of the charity for the year ending 31 March 2024. The Trustees, report and financial statements shoukl be read In conjunction with the Scoutscymru Annual Report 2023124 attached as Appendix B. The financial statements comply with the Charities Act 2011 and Accounting and Reporting by Charltles: 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 IFRS 102) (l January 2019). OBJEcfivES. Acrivm4 ACHIEVEMEwfs AND FUTURE PLANS Scoutscymru is a not for profit organisation which works to support the provision of the Scout Youth Programme within Wales and improve the quality of its delivery. It facilitates discussions that relate specifically to issues that face Scouting in Wales, including the rural nature of the country, its language. and the opportunities for adventure, outdoor activities and training. In addition, it provides an interface for discussion with the Welsh Government and other all-wales organisations representing the voluntary sector and in particular the youth seniices. Our current Vision Is that by 2025 Scoutscvmru will have prepared more young people with skills for life, supported by engaging Leaders. delivering an inspiring programme. We will be growin& more inclusive, shaped by young people, and play a full part in cohesive communities and the vibrant culture of Wales. Scouting exists to actlvely engage and sUPPOrt young people in their personal development, empowerlng them to make a positive contrlbutlon to soclety. As Scouts we are guided by these values: Integrity - We act with integrlty; we are honest, trustworthy and loyal. Respect - We have self-respect and respect for others. Care- We support others and take care of the world in which we live. Belief - We explore our faiths, beliefs and attltudes. Co-operation - We make a positive dlfference; we cooperate with others and make friends. Our current strategic objectives and outcomes are as follows. As a movement alm to: Grow KPI: Ensure that 90% of exlsting Scoutscymru Groups are complete wlth each Section containing more than 12 young people KPI: Increase young people in Scoutscymru by 2.5% per annum over 2018 baseline Become MO inclusive KPI: 90% of members undertake the inclusivity self-assessment at the relevant level and prioritise actions to move to -green" Become more "youth shaped" KPI: 80% of young people shape their Scouting by attending the relevant Section Groupi District or Area Forum Achieve the above while making a positive impact in our communities KPI: Ensure a minimum of 60% of Scout Group5 have built Community Impact into their termly programme To achleve our current strategic objective5, the delivery of all annual plans across Scoutscymru focus on the followlng three pillars, thereby contributing to the seven goals of the Well-being of Future Generatlons (Wales) Act 2015, In partnershlp wlth each local authorlty Public Service Board: Programme- A fun, enjoyable, high quallty programme consistentty dellvered and aided by slmple (digitsl) tools
SCOUTSCYMRU REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 People- More, well trained, better supported and motlvated adult volunteers from dlfferent backgrounds Perception - Scouting is clearly understood, more vislble, trusted, respected and wldely seen as playing a key role In todaVs society. When anatyslng Scoutscymru's expenditure on charitable activities, the Trustees came to an understandlng that It would be misleading to try to analyse the expendlture expended on charitable actlvltles under the four strategic objectives as described above. Many of the actlons and artivities that deliver the strategic objectfves are led and delivered by volunteers and therefore incur proportionately less financial expenditure than those activities dellvered by Scoutscymru's salaried staff. To analyse the expenditure on charitable activities under the four strategic objectives would therefore materially distort the presentation of the Importance of some of those objectives. Instead, theTrustees considerthatthefollowingfive headings used to analyse expendlture on charitable activities provide a more meanlngful and approprlate explanation of Scoutscymru's spending priorities. Adult SUP and Tralnlng Programmes and activities to support aduft volunteers. Development of Scoutlng Actlvltles to grow the Scout Movement in Wales, including raising the profile of Scouting at Welsh Government, corporate and communlty levels. Development of Scouting expenditure also includes grants pald from the Scoutscymru Grant Fund. The Scoutscymru Grants Fund Is deslgned to help support and de4elop Scouting in Wales. The fund is overseen by the Flnances and Resources committee who meet three times a year to conslder appllcatlons. The Grant Fund considers appllcations which meet the criteria forthe following sub-funds: New Sectlon Fund-to support new Squirrel, Beaver, Cub. Scout. Explorer or Scout Network sectlons opening within Wales. Inclusive Scouting Fund- to support projects that alm to improve diversity within Scouting in Wales. Capital & Equipment Fund - aims to support Groups, Districts or Areas within Wales with significant capital or equipment purchases. Adult Support Fund- aims to fund projects helping with the recruitment, induction, tralnlng and retentlon of adult volunteers. Small Grants Fund- designed to provide young people wlth the experience of completing a grant application and presenting their proposal. Youth Programme and Actlvltles The provlslon of tralnlng, actlvltles and awards at a national level that could not easlly be dellvered at a local level. Support and Serylces to Scoutlng In Wales Actlvities to provide management supportto Areas and Distrlcts,forums forthe exchange of Ideas and best practlce for the dellvery of the Scout Programme within Wales, and a central source of selected tralnlng materials, Welsh translatlons and insignia. A big change to Scoutlng took Pla In 2022123 wlth the full launch of a new sertlon, "Squirrels. for those aged 4 to 6 {following smaller scale trials the previous year). Although not dlrectly responsible for operating any Squirrel Dreys, Scoutscymru continued to 5UPPOrt Areas, Districts and Groups in promotlng and settlng up Squirrels Dreys across Wales. Scoutscymru is also worklng With The Scout Association on the UK led Transformation project which aims to transform volunteering at Scouts to make it easier, more enjoyable and rewarding. This is a major change programme which will impact all levels of the Scout Movement. The majority of changes are being introduced in 2024125 followlng a slight delay wlth tirnescales.
scoiJrscYMRU REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Scoutscymru Activlty Teams & Mountain TralnlnglResidential Centres Scoutscymru provides facilltles run by Scouters for the Scout Movement. to enable Scouts to enjoy the challenges of the mountains of Wales with the security of competent leadership and the provision of relevant accommodation. Additionalty. there is provision of water and Bushscout activities at a national level that all rnembers of Scouting in Wales can participate in. Full details of the specific objective5, activities, achievements and future plans within these c05t headings are set out in Appendix A, as well as further infoTmation on achievements found in the Scoutscymru Annual Report 2023/24 attached as Appendix B. Governance and leadership: The Board has carried out its business in accordance with the governance and management of a registered charity. It has dealt with the financial and audited accounts, the management of policies for marketin& fundrdisin& managing its properties and ensuring sound employment practices. The Board has approved annual business plans and supported the Chief Volunteer Wales (previously known as the Chief Commissloner) in meetlng the responsibilities of their role. Future Plans The Ski115 for Life Strate set out by The Scout Association, which defined the strategic objectlves and KPIS ends in Dember 2025. In preparation for the development of the new strategy, Scoutscymru has commenced programme of work to consult with key stakeholders across Wales to Inform the development of a national strategy by exploring the unique aspects of being a part of the Scout Movement in Wales. This work commenced in 2023 with planned activities to consultfurtherthroughout 2024 In the run up to Summit25 a UKwlde event which brSn8s together organlsational leaders to discuss the future of Scoutlng. Strengthenlng Scoutscymru govemance and management Is key theme for the year ahead with the new Chair of the Scoutscymru Board of Trustees commencing a governance review to ensure the strategic overslght and management of the organisation meets the future needs and asplratlons of Scouting in Wales. This review is aimed to be completed by the end of the 2024125 financlal year. FINANCIAL REVIEW The Financial Review should be read in conjunction with the financial statements on pages 43 to 59. The accounts bring together the activities of Scoirtscymru. the Scoutscymnl Water Activitie5 Team {"SWAf), Yr Hafod Scout Centre (which includes the Hafod Training Team). Cornel Scout Centre and Bushscout Cymru. SWAT, Bushscout Cymru, Hafod Training Centre and Cornel Scout Centre aim to be self-funding through fees for activities. training courses and accommodation. 5coutsCymTu's core activities are funded through membership subscriptions and investment income. Income and expenditure a surnmarised in the Statement of Financial Artivities on page 43 of the accounts and analysed in detail in the notes to the financial statements. The alloGition of support costs is reviewed annually. In the financlal year there was an unrestricted Surplus of £12,772 (2023: surplus of £56,903) before gains/l105ses) on investments in unrestrlcted funds. This surplus is after the receipt of voluntary and Investment income, funding and governance costs and the net cost of charitable activitie5. Central activities resulted In an operating surplus of £15,417 (2023: surplus of £107,829). The SWAT and Bushscout teams, mountain trainlng and residential ntreS generated a surplus of £1,321 (2023: deficlt of £34,406). As shown In Note 3, gross income has Increased significantly since last year wlth the main increases belng in Area Census fees and Youth Programme & Actlvltles. Area Census fees Increased as we had 13,726 members from our
SCOUTSCYMRU REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 January 2023 census compared with 12,491 In January 2022. In 2023124 Scoutscymru was entitled to keep 57% (2023: 57%) of the UK census fee5 it collected and contlnued to charge its own census fee set at £15 per person (2023: £15). Youth Programme & Artivities increased as we released to Income durlng the year all the participant fees received from those attending the World Scout Jamboree 2023 in South Korea. In 2022123 Scoutscymru was successful In being awarded a two year Welsh Government Strateglc Voluntaryyouth Workorganisations Grant, and during 2023/24 was successful in applying fora one year extenslon tothegrant wlth this funding now continuing until March 2025. The Actlvlty Teams, mountain training and residential centres income also Increased as they continued to return to normal operational levels following the Covid-19 pandemic and Increase the number of activities and events on offer. As detailed In Note 6, gross expendlture has also increased compared to 2022123. The maln factors contributing to this increase in expenditure compared to the previous year include: The World Scout Jamboree 2023 took place In South Korea and so all payments for the participants to attend were expensed during the year leading to the slsnificant increase in Youth Programme & Activities. Volunteer and trustee travel, Subsisten and meeting costs increased mainly due to the expenses related to runnSng the Wales Transformation weekend conference In January 2024. Support staff costs Increased from 5.2 full tlme equivalent (ftel to 7.8 fte. following the staff restructu, appointment of the new Director role and Increase In headcount versus 2022123. This also led to an assoclated increase in Other Support Costs relating to recrultment costs and staff travel and subsistence. Scoutlng Support staff recruitment took place during the year, from 2.6 fte to 3.6 fte, leading to an associated increase In Other Direct Costs relating to recruitment costs and staff travel and subslstence. The Trustees consider the results for the year to be satisfactory and expected to make a small surplus forthe year before gainslllossesl on investments. Savings versus budget on staff costs due to delays recruiting all vacant positions were offset against increased recruitment costs and funding the Wales Transformation weekend conference. Investments Scoutscymru's investments and risk profile are reviewed on an annual basis. The investment portfolio is managed by RBC Brewin Dolphin. Details of the portfollo are shown in Note 11. The investment portfolio had a net gain of £28,423 and closlng market value of £401k during 2023124 as our portfolio recovered in line wtth the wider Investment market. Thls compared to an opening market value of £366k and a net105s of £20,760 during 2022/23. Recognlslng Investments are held wlth a vlew for longer-temi perforrnan, the Trustees are currently satisfied with the performance of the portfollo. At June 2024 the market value of the portfollo stood at £399k. Reserves Policy The level of reserves is reviewed annually by the Trustees. The Trustees are of the opinion that Scoutscymru needs to malntain an adequate level of reserves to maintain the continulty of servlces assoclated wlth the provision and development of Scouting in Wales. Durlng 2021122 the Trustees, following the example set by The Scout Association, increased the level of general reserves they conslder it appropriate to maintain from 6 months up to 12 months current revenue expenditure. Significant capital and revenue projects will be funded by setting aslde appropriate amounts into designated funds. The reseNes are stated in note 18 of the financial statements as detailed on page 57. At the balance sheet date the free resee5 (being the general funds of Scoutscymru, less Tangible Fixed Assets) stood at £713,613 {2023: £645,791). Total expenditure for 2023/24. excluding the "Other Direct Costs" expenditure caption for Youth Programme and Activities (which are always run on a paid attendance basis and so can be excluded} was £668,828.
SCOUTSCYMRU REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 MARCH 2024 Free reserves therefore stood at Just under 13 months of revenue expenditure, slightly above the Trustees, target, but meaning Scoutscymru is in a relatively stable flnanclal position. It 15 essential that Scoutscymru acts prudently to ensure that it can continue to support and develop Scoutlng in Wales for the foreseeable future to ensure its activities are sustainable. When setting a budget for a "norrnar financial year the Trustees are of the view that at an operational level Scoutscymru should break-even, and only expenditure on approved short-term projects will be allowed to create a deficit for a year. The 2024/25 budget has an operational surplus of £IOk for the year. Assets Fixed assets comprise freehold property used as accommodation and training centres, fixtures, fittings and equipment, structural improvement5 and investments. CUrnt assets comprise stock, debtors and cash at bank and in hand. Availability of Funds The assets in the form of cash and stocks and shares are sufficient to fulfil obligations. AUDITORS At the Annual General Meetin& Azets Audit Servi$ were reappointed as external auditors, VOLUNTEERING Scoutscymru achieves its objectlves through the work of 4,735 (2023: 4,7801 adult volunteers working in some 278 (2023." 2841 communities to support the development of 14,06112023: 13,7261 young people of Wales through the Scout programme (based on our most recent January 2024 census data}. Adult volunteers work directly with the youth membershlp as leaders and are supported by volunteer managers. trustees and other supporters. All Trustees of Scoutscymru are volunteers, including the Chief Volunteer {previously known as Chief Commissloner), Youth Lead Volunteer Ifom)erly known as Youth Commissioner) the Chair and the Treasurer. The Scout programme in Wales and the associated All Wales events are led by volunteers who have many years of experience and specialist trainlng. Volunteers with such experience and training enable Scoulscyrnru to offer a wide range of water and land activlty training events for both adults and young people. To support its adult volunteers Scoutscymru along with The Scout Association provides comprehensive induction, leadership and management trainin& delivered by teams of skilled volunteertrainers. Scoutscyrnru endeavours to increase the number of volunteers available so that it can fulfil the demands of young people for the adventure that Scouting offers. Scoutscymru is indebted to all volunteers in Scouting who give so generously of their time and skills: without their dedication the adventure of Scouting would not happen. STRUCtURE, GOVERNANCE AND MANAGEMENT Scoutscymru was formed in 1925 in recognitlon of the need for the Scout Movement to identify with the Welsh nation. Scoutscymru is an autonomous, not-for-profrt organisation registered as a charity on 24 February 1964 (charity number 522572). Scoutlng in Wales is represented within the UK Scout Association through the Chief Volunteer for Wale5. a senior volunteer appointment. The charity Is governed by the Scout A55oclatlon's Royal Charter orlglnally dated 4 January 1912 with the latest amendment beSng dated 19 July 1991 and operates under Sts own constitutlon within the Policy, Organlsation and Rules of The Scout Association. The report and accounts cover the activities dlrectly controlled by Scoutscymru. The activities of Scout Areas, Distrlcts and Groups in Wales are not reflected in the report and accounts. These bodies and Scoiitscymru are
SCOUTSCYMRU REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 autonomous charities affillated to The Scout Association that togetherfonn the Scout Movement in Wales. The managing Trustees of the charity as detailed in the constitution are the Chair of the Board of Trustees of Scoutscymru, the Treasurer to Scoutscymru, the Secretary {unless the Secretary is employed by Scoutscymru), the Chief Volunteer for Wales, the Wales Youth Lead Volunteer {previously known as Youth Commissioner), upto four members of the Scout movement in Wales elected at ScoutsCymru'5 Annual General Meeting {"AGM"), up to four members of the Scout movement in Wales aged between 18 and 24 years elerted at Scout5Cymru's AGM, up to four Nominated/Appointed Trustees, along with any Co-opted Trustees. The number of Nominated/Appointed and Co-opted Trustees together cannot exceed the number of Elected Trustees. The names of the Trustees who served during the year are shown on page 8. Induction and training of Trustees includes the provision of relevant Charity Commission publications and relevant training throughout the year. All Trustee roles are voluntary and unpaid. The Board of Trustees meets at least three times a year. The day to day running of the charity is delegated by the Trustees to Committees and to the Director. The Committees in operation during 2023124 were: Finance and Resources Nomlnatlons and Governance Strategy and Dellvery Rlsk Cornel Scout Centre Yr Hafod Scout Centre Appolntments Advlsory Equality Diversity and Incluslon Task and Finish groups are also set up as and when required. The Chairs and members of all commfttees are appointed by the Board of Trustees. The Committees may copt additional member5 subjert to approval of the board. The Chief Volunteer for Wales and the Chair of the Board of Trustees are ex-officio members of all committees. Each commtiee reports to the Board of Trustees and makes recommendations, unless it has received authorisatlon to act executively. Each committee meets at least three times a year apart for the Appointments Advisory committee that meets when required. During 2023124 the key employed management personnel of the charity was the Director, a new role created in the year. This role acts as the Chief Executive of Scoutscymru. Principal Risks and Uncertainties The Trustee5 regularly assess the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity and are satisfied that systems are in place to manage exposure to the major risks. The Board of Trustees has identified, through the completion of risk re8iSters, the major risks to which they believe the charity is exposed, these have been reviewed and systems have been established to mitigate against them. The main aaS of concern that have been identified are: Damage to buildings, property and equipment- Scoutscymru has sufficient buildings and contents insurance in place to mitl8ate against permanent loss Injury to leaders, helpers, supporters, members, and staff - Scoutscymru through the membership fees contributes to TSA'S national accident insurance pollcy. RlskAssessments are undertaken before all actfvitles. Scoutscymru also has adequate Employer's Liability Insurance Reduced income from fundralslng and grants - Scoutscymru is primarily rellant upon Income from membership fees and fundraisin8. Scoutscymru currently hold sufficient reserves to ensure the contlnulty
SCOUTSCYMRU REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 of activities should there be a major reduction In Income. The trustees and staff of Scoutscymru continue to work and identify and secure other sources of income IT failure - Scoutscymru h35 a service contract for IT support, and performs regular data back-up5
SCOUTSCYMRU REpoKf OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 REFERENCE AND ADMINsfRATIVE DETAIL5 Charity Registered Number 522572 Address Castle House, Southern Street, Caerphilly, CF83 ILH. Trustees Christopher Curtls (Chair) Kirsty Palmer (Chairl Dom Winfield (Treasurer) Rhian Moore (Chief Volunteerfor Wales) Christopher Lee {Vice Chairl Edward Watts MBE DL (Vice Chair) Callum Jones (Youth Lead Volunteer Wales) Mark Brett Dylan Murray Frances Feehan Nlgel Steward Stuart Turton Sam Wllllams Alaa Khundakjl Gareth Davies Georgia Murray Ito 21 Ortober 20231 {from l February 2024) (to 17 March 20241 (to 21 October 20231 {to 21 October 20231 (to 21 October 2023) (to 31 December 20231 (from 21 October 2023) Aspects of day-to-day management are delegated by the Board to Commlttees and Kerrie Gemmill, Director of Scoutscymru. Auditors Azets Audit SeNices, Ty Der¥V, Llme Tree Court, Cardiff Gate Business Park. Cardiff, CF23 8AB. Bankers Lloyds Bank, Bridgend Branch, 18 Wyndham Street, Brldgend, Mid Glamorgan, CF61 IX2. Lloyds Bank, Mostyn Street, Llandudno Branch, 22 Mostyn Street, Llandudno, Conwy, LL30 2RU. Lloyds Bank, 6 Market Place, Oldham, OLI IJG National Westminster Bank, 72 Hlgh Street, Porthmado& Gwynedd, LL49 9NR. Investmeirt Manager RBC Brewln Dolphin, 2nd Floor, S Callaghan Square, Cardiff, CFIO 5BT
SCOUTSCYMRU REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 TRusfEES' RESPONSIBIUTIES The Trustees are responslble for preparing the Trustees, Report and the flnanclal statements in accordance wlth appllcable law and United Kingdom Accounting Standards including Financlal Reportlngstandard 102: The Financlal Reportlng Standard applicable In the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practlce). The law applicable to charities in England & Wale5 requires the Trustees to prepare financial statements for each financial year which give a true and fairview of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then applythem consistently observe the methods and prlnclples in the Charities SORP make judgments and accounting estimates that are reasonable and prudent state whether applicable accountlng standards have been followed, subject to any materlal departures disclosed and explained in the flnanclal statements prepare the financial statements on the going concern basis unless it is inapproprlate to presume thatthe charlty wlll contlnue in business The Trustees are responslble for maintaining proper accounting records which disclose with reasonable accurary at any time the financial position of the charity and enable them to ensure that the financial statement5 comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed/constitution. They are a150 responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. TheTrustees are responsible forthe maintenance and integrity of the charity and financial informatlon Included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differfrom legislation in other jurisdictions. This report was approved by the Trustees on 22 October 2024 and signed on its behalf, bv: Kirsty Palmer Chair. Board of Trustees Dom Winfield Treasurer, Board of Trustees
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INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF SCOUTSCYMRU Opinion We have audited the financial statements of Scoutscymru (the 'charitV) forthe year ended 31 March 2024 whlch comprise the statement of financial activities, the balance sheet, the statement of cash flows and the 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, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland {United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements give a true and fair view of the state of the charitsble company's affairs as at 31 March 2024 and of its incoming resource5 and application of resour5, forthe year then ended,. have been properly prepared in accordan with United Kingdom Generally Accepted Accounting Practice; and have been prepared in accordance wlth the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with International Standards on Audwting IUKI {ISAs {UKI) and applicable law. Our responsibllltles under those standards are furtherdesuitEd in the Auditor's responslbilities forthe audit of the financial statements section of our report. We are independent of the charity in accordan with the ethical requlrements that are relevant to ouraudlt of the flnanclal statements in the UK, Including the FRCS Ethical Standard, and we have fulfllled our other ethlcal responslbllltles In accordance wlth these requlrements. We believe that the audit evidence we have obtained is sufficient and approprlate to provlde a basis forour opinion. Conduslor6 relatlng to golng 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 approprlate. Based on the work we have performed, we have not identified any material uncertaintles relating to events or conditions that, individually or collectlvely, may cast slgnificant doubt on the charlS 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 responslbllltles and the responsibllitles of the trustees with respect to going concern are described in the relevant sections of this report. Other information The other information comprises the infomiation included in the annual report otherthan the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not coverthe other information and we do not express any form of assurance conclusion thereon. 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 course of the audit, orotherwise appears to be materially misstated. If we identify such material inwnsistencies or apparent material misstatements, we are required to determlne whetherthls 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. Matters on whlch we are required to report by exception We have nothing to report in respect of the followlng matters In relation to which the Charities (Accounts and Page 40
INDEPENDENT AUDITOWS REPORTTO T4ETRUSTEES OF 5coITfscYMRU Reports) Regulatlons 2008 requlre us to report to you rf, in our oplnlon: the informatlon glven In the flnancial statements is inconslstent In any material respect with the trustees, report: or sufficient accountlng records have not been kept; or the financial statements are not In agreement wfth the accounting records; or we have not received all the informatlon and explanatlons we require for our audit. Responsibilities of trustees As explained more fully in the ststement of trustees, responslbllltles, the trustees, who are also the directors of the charty for the purpose 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 staternents, the trustees are responsible for assessing the charitvs 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. Auditor's responslbilities for the audit of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Att and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assuran about whetherthe financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted Sn accordance wlth ISAS (UK} will alway5 detect a material misstatement when It exists. Misstatements can arise from fraud or error and are consldered material if, individually or in the aggregate, they could reasonabty be expected to influence the economlc decisions of users taken on the basis of these flnancial statements. A further description of our responsibilities Is avallable on the Financial Reporting Council's website at: https://www.frc.org.uVaudltorsresponsibilities. This description forms part of our auditorfs reFX)rt. Extent to whlch the audlt was consldered capable of deterting irregularftles, Includ1 fraud Irregularities, including fraud, are instances of non-compllance with laws and regulations. We deslgn procedures in line with our responsibilities. outlined above and on the Financial Reporting Council's website, to detect material misstatements in respect of irregularities, including fraud. We obtsin and update our understanding of the entity. its attivities, its control environment, and likety future developments, including in latiOn to the legal and regulatory frdmework applicable and how the entity is complying with that framework. Based on this understandin& we identify and asse5S the risks of material misstatement of the financial statements, whether due to fraud or error, design and perfonn audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable la and regulations. including frdud. In response to the risk of irregularities and non-compliance with laws and regulations, Including fraud, we designed procedures which included: Enquiry of management and those charged with governance around artual and potential litigatlon and claims a5 well as actual, suspected and alleged fraud. Revlewing minutes of meeting5 of those charged with governance: Assessing the extent of compllance with the laws and regulations considered to have a dirett material effect on the financial statements orthe operatlons of the entity through enquiry and inspection; Page 41
INDEPENDENT AUDITOWS REPORTTOTHE TRUSTEES OF SCOUTSCYMRU Reviewing financial ststement disclosures and testing to supporting documentatlon to assess compllance with applicable laws and regulations; Perfomiing audit work over the risk of management bias and override of controls, includlng testlng of journal entries and other adjustments for appropriateness, evaluating the business rationale of Significant transactions outside the normal course of business and reviewing accounting estimates for indicators of potential bias. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-complian with regulation. This risk increases the more that compliance with a law or reEulation is removed from the events and transactions refletted in the financial statements, as we will be less likely to become aware of instance5 of non-compliance. The risk of not detecting a material rnisstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of intsrnal control. Other Matters Your attention is drawn to the fact that the charity has prepared financial statements in accordance wlth "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing thelr accounts in accordan with the Financial Reportlng Standard applicable in the UK and Republic of Ireland {FRS 102)" las amendedl In preference to the Accounting and Reporting by Charltles: Statement of Recommended Practice issued on l Aprll 2005 whlch Is referred to in the extant regulations but has now been withdrawn. This has been done in orderforthe flnanclal ststements to provide a true and fairview in accordance wlth current Generalty Accepted Accounting Practice. Use of our report This report is made solely to the charivs trustees. as a body, in accordan with part 4 of the Charitie5 {Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are reqUId 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 charity and the charitys trustees as a body, for our audit work, for this report, or forthe opinions we have formed. rew owe Senior Ststutory AudSt Azets Audit Services Chartered Accountsnts Statutory Auditor Ty Derw Lime Tree Court Cardiff Gate Business Park Cardiff CF23 8AB Azets Audit Serrflces is eli8ible for appolntment as auditor of the charity by virtue of its eligibilityfor appointment as auditor of a company under of section 1212 of the Companies Act 2006. Page 42
SCOUTSCYMRU STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Total funds 2024 Total funds 2023 Unrestrlrted funds Restrirted funds Income and endowments from: Donations and legacies Charitable activities Investments Other income Totol Income ond endowments 706 974,861 13,701 598 989.866 706 975,257 13,701 598 990,262 278 658,146 13.537 623 672,584 396 396 Expenditure on: Raising funds Charitsble activitles Total expenditure 23.152 953.942 977,094 23.152 954,338 977.490 16,576 599,105 615,681 396 396 Net goins/{lossesJ on investments Net income/(expenditureJ 16 28,423 41.195 28.423 41.195 {20,760) 36,143 Reconclliation of Funds Total funds brou8ht forward Totalfvnds carrledfvrward 16,17 18,19 902.785 943,980 902,785 943,980 866,642 902,785 All artivities relate to contlnulng operations. The notes on pages 46 to 59 form part of these financial statements Page 43
SCOUTSCYMRU BALANCE SHEEr AS AT 31 MARCH 2024 2024 2023 Note Fixed assets: Tangible asset5 Investments io li 111.356 400.956 512312 121,629 365,990 487,619 Current assets: Stocks Debtors Cash at bank and in hand 12 13 7,378 746.770 523.603 1.277,751 10,530 867.022 514,984 1,392,536 Liabilities: Creditors: Amounts falling due wlthin one year 14 (846.0831 (977,370} Net current assets 431.668 415,166 Net assets 943,980 902,785 The funds of the charity: Unrestricted income funds Designated funds General funds 16 16 119,011 824.969 135,365 767,420 943.980 902,785 Total charity funds 943.980 902,785 The financial statements were approved and authorised for issue by the Trustees on 22 October 2024 and signed on their behalf, by". Irsty Palmer Chair Board of Trustees Dom Wlnfleld Treasurer Board of Trustees The notes on pages 46 to 59 form part of these financial statements Page 44
SCOUTSCYMRU STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 Note 2024 2023 Net cash provlded byl{used in) operatlng actlvltles 20 6.637 162.423) Cushflowsfrom Investlng artivities.. Dlvldends, interest and rents from investments Purchase of property plant and equipment Proceeds from sale of investments Purchase of Investments Net cash provided by/(used In) Investing artlvltles 13,701 15,176) 37,786 144,329) 1,982 13,537 18,674) 332,239 (331,256) 5,846 Change In cash and cash equivalents in the reportlng period 8.619 156,577 Cash and cash equivalents at the beginning of the reportlng perfod 514.984 571,561 Cash and cash equlvalents at the end of the reportlng perlod 20 523.603 514,984 The notes on pages 46 to 59 form part of these financlal statements Page 45
SCOUTSCYMRU NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUhrriNG POUCIES The following accountlng policies have been used consistently in dealing with items whlch are considered material in relation to the charitvs financlal statements. Basls of Preparatlon The accounts have been prepared in accordance with the Statement of Recommended Practi. Accounting and Reporting by Charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as it applies from l January 2019. The charity have departed from the Charities (Accounts and ReFK)rts1 Regulations 21N)8 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. Scoutscymru meets the definltlon of a publlc benefit entity under FRS 102. Assets and liabilities are initially cogni5ed at historical cost or transaction value unless otherwise stated in the relevant accountin8 policy note(s). Roundln8 Figures contained in the financial statements have been rounded to the nearest pound. Presentatlon of the accounts on a going concern basis The Charity reported net income of £41,195 for the year and has net assets of £943,980. The outlook for the future continues to remain positive as looking to 2024/25 our income will Increase again as from thejanuary 2024 n$US our membership has grown further to 14,061 young people, up from 13,529 young people in 2023124. The current Strategic Voluntary Youth Work Organisation grant finishes in March 2025 and Scoutscymru are actively looking for other funding sources. In addition the Charity currently maintains sufficient free reserves at 12 months of revenue expenditure and monitors results on a frequent basis. The Trustees are therefore of the view that on this basis the charity is a going concern and the a no material uncertainties about the charitVs ability to continue as a going COnrn. Fund accounting General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each desEnated fund is set out in the notes to the financial statements. Restricted fvnds are funds which are to be used in accordance with speclfic restrictions imposed by donors which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financlal statements. Investment income, gains and losses are allocated to the appropriate fund. Page 46
SCOUTSCYMRU NOTES TO THE FINANCIAL sTATEMErs FOR THEYEAR ENDED 31 MARCH 2024 ACCoUNG POUCIES (continued} Income All Income Is Included In the Statement of Financial Activities when the charity is legally entitled tothe income and the amount can be quantlfled wlth reasonable accuracy. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. Grant income is recognised when it is received. with the balan being carried fornvard within reserves if it has not been utilised. Expenditure All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all cost5 for allocation to activities. Where costs cannot be directty attributed to particular activities they have been allocated on a basis consistent with the use of the resources. Support costs have been allocated 74% (2023: 74%) to charltable activities, 20% (2023: 20%) to governance {contained within charitable activities) and 6% {2023: 6%) to raising funds. The support costs have further been allocated to the various charitable activities as follows: 2024 2023 Adult Support & Training Development of Scouting Youth Programme & Activities Support & Servi$ to Scouting in Wales Mountain Training & Residential Cent$ 22% 24% 22% 22% 24% 22% The cost of the Scouting Support SeNice {Direct Staff Costs) has been allocated as follows: 2024 20% 15% 5% 2023 20% 15% Adult Support & Training Development of Scouting Youth Programme & Activities Support & Servlces to Scoutlng in Wales 60% Governance costs are those associated with constitutional and statutory requirements. Consolidation The accounts include all of Scoutscymru's actwities. The following operations have been aggregated with the accounts of Scoutscymru: Cornel Scout Centre Yr Hafod Scout Centre SWAT Bushscout Cymru Investments Investments are stated at market value at the balan sheet date. The Statement of Financial Actfvities includes the net gains and losses arising on revaluations and disposals throughout the year. Page 47
SCOUTSCYMRU NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POUCIES (continued) Tangible fixed assets and depreclatlon All assets costing more than £2,0(M) are capltallsed. The Hafod leasehold property has been revalued to market value whlch the committee considers to be negligible given the terms of the lease. Tangible red assets are stated at cost less depreciation. Depreciatlon ts provided at rate5 calculated to write off the cost of fued assets, less thelr estlmated residual value. over their expected useful lives on the following bases: Freehold property Fixtures, fittings and equipment Drascombe Gig Structural improvements p.a. stralght Ilne p.a. stralght Ilne p.a. straight line p.a. straight line 25% 6.66% Operatlng leases Rentals applicable to operating leases where substantially all of the benefits and rlsks of ownership remain wlth the lessor are charged to the Statement of Financial Activities as incurred. Stocks Stocks, in the form of scarves, badges, and The Duke of Edlnburgh Award Scheme publkations are valued at the lower of cost and net realisable value after maklng due allowance for obsolete and slow-moving stocks. Debtors Trade and other debtors are recogni5ed at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade dlscounts due. Cash at bank and in hand Cash at bank and cash in hand includes cash and short tenn highly liquid investments with a short maturlty of three months or less from the date of acquisition or opening of the deposit or similar account. Credltors and provlslons Creditors and provlslons are recognlsed where the charity has a present obligation resultingfrom a past event that will probably result In the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated rellably. Credltors and provisions are normally recognised at their settlement .amount after allowing for any trade dlscounts due. Financlal Instruments The charity only has financial assets and flnancial liabilities of a kind that quallfy as baslcfinancial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. Llabllltles polkv Llabilities are recognised in the Statement of Flnancial Activities as they become payable. Page 48
SCOUTSCYMRU NOTES TO THE FINANaAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES (contlnued) Taxation As a registered charity, Scoutscymru Is entltled to the exemptlon from taxation in respect of income and capital galns received with section5 478489 of the Corporatlon Tax Act 2010 and sectlon 256 of the Taxation af Chargeable Gains Act 1992 to the extent that these are applled to Its charltable objects, purposes onlv. Pensions The charity contributes to The Scout Assoclation Pension Scheme (a defined contrlbutlon penslon scheme) for all employee5. The pension charge represents the amounts payable in the year. 2. CRMCAL ACCOUNTING EsfiMATES AND JUDGEMENTS In the application of charltvs accountlng pollcies, the trustees are required to make judgements, estlmates and assumptions about the carrylng amount of assets and Ilab115ties that are not readily appareni from other sources. The estimates and assoclated assumptlons are based on historical experience and otherfactorsthat are consldered to be relevant. Actual results may dlfferfrom these estlmates. The estimates and underlying assumptions are reviewed on an ongolng basls. Revlslons to accounting estimates are recognised In the perlod In which the estimate is revised where the revlslon affects only that period, or in the period of the revision and future periods where the revision afferts both current and future perlods. 3. INCOME FROM CHARITABLE ACTIVITIES Total funds 2024 Total funds 2023 Unrestricted funds Restricted funds Area Census fees Activity Teams & Mountaln TraininglResidentlal Centres Welsh Government Strateglc Voluntary Youth Work Organlsations Grant Other Grants Merchandise {scaNeslbadges etc.) Youth Programme & Artivities 476.694 476.694 426,241 111.630 111,630 77,466 66P79 10.369 17.105 292,084 974.861 66,979 10.765 17.105 292,084 975,257 62,084 6,382 15,131 70,842 658,146 396 396 Included within "Activity Teams & Mountain Trainin&lResidential Centres" Is £975 grant Income that SWAT were awarded durlng the year and £9,5(M) that Bushscout Cymru were awarded durlng the year (2023: £16,086). For detaS1s of the Restricted funds received see note 17. Page 49
SCOUTSCYMRU NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 MARCH 2024 4. INCOME FROM INVEStMENTS Total fvnds 2024 Total funds 2023 Unrestricted funds Restrirted funds Income from listed Investments Interest re1vable 7.158 6,543 13.701 7.158 6,543 13,701 12,165 1,372 13,537 S. EXPENDITURE ON RAISING FUNDS Direct staff costs Support staff Other 5UPPOrt costs Depre- ciation 2024 Total 2023 Total Other Fundralsing costs Investment management 14,945 5.467 41 20.453 2.699 23,152 13,855 2,721 16,576 2,699 2.699 14,945 5.467 41 6. EXPENDITURE ON CHARITABLE AcfiviTIES Dlrect staff costs Support stsff costs Other support costs Other Direct Costs Depre- ciation 2024 Total 2023 Total Adult support and training Development of Scouting Youth Programme & Activities Support and seNices to Scouting in Wales Activity Teams & Mountain Trainin Residential Centres Governance costs 23,847 17,885 12.454 54.800 4,556 20,047 12,802 26.596 34 149 53,693 119,477 43,394 97,050 5,962 59,782 21.869 308.662 161 396,436 138,585 71,540 54.799 20,047 36.189 149 182.724 145,787 2,491 49.818 234.144 911 18,225 85.655 95.534 20,113 49996 14.781 135 15.409 113.717 88.291 954,338 114,181 60,108 599.105 119.234 £396 of the Youth Programme & Actlvltles and Support and services to Scoutin8 in Wales are shown under restricted funds on page 43 to match the Mlsslon to Seafarers Income. Page 50
SCOUTSCYMRU NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 EXPENDrruRE ON CHARITABLE ACTIVITIES Icontinued) Included within the "Other Dlrect Costs" Development of Scouting costs above are £3,967 (2023.. £16,520) of grants paid from the Scoutscymru Grant Fund to Scout Groups, Districts and Areas In Wales during 2023124 {see note 16). Further details of the applicatlons supported during the year is as follows: Subfund Total awarded Number of Institutions supported 22 New sectlon fund Incluslve Scoutlng fund Capital & Equipment Fund Adu Support fund Small Grants fund Previous awards withdrawn 4,800 500 817 800 (2,950) 3,967 7. NEf INCOMEI(EXPENDITURE) FOR THE YEAR This is stated after charging: 2024 2023 Depreciation of tangible fixed assets Auditor5. remuneration Operatin8 lease costs 15.449 9,600 19.199 17,178 4.830 19,199 ANALYSIS OF sfAFF COSTS, TRUSTEE REMUNERATION AND EXPENSES Staff costs were as follows: 2024 2023 Wages and salaries Social security costs Penslon costs 317.274 25,371 22,406 365,051 257,484 19,838 16,206 293,528 No employee received remuneration amountingto more than £60,000 in eitheryear. Duringthe year, no Trustees received any remuneration (2023: £NIL} or any benefrts in kind (2023: £NILI. During the year, 512023: 7) Trustees reiVed £1,091 reimbursement of travel expenses12023: £9731. The total expenses waived by the trustees during 2023124 is considered immaterial and so not calculated. Key Management Personnel As detailed in the Tru5tees' report, durin8 2023124 the key management personnel of the charity was the Dlrector. During 2023124 the total ernployee benefits (including salary, employers, national Page 51
SCOUTSCYMRU NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 MARCH 2024 8. ANALYSIS OF STAFF cosrs. TRUSTEE REMUNERATION AND EXPENSES (continued) insurance, pension and benefits in kindl of the key management personnel of the charity were £53.304 (2023: £52,478). The prior year comparative is for the Head of Operations, a role which no longer exists followlng the staff restructure during 2023/24. STAFF NUMBERS The average monthly number of employees during the year was as follows: 2024 2023 No Management and administration Scouting Support offir$ 12 10. TANGIBLE FIXED ASSErs Flxtures, fittings and equipment Structural Improve ments Land and buildings Total Cost At l April 2023 Addltlons Disposals At 31 March 2024 92.626 76.802 273.198 2.526 (3.098) 272,626 442,626 5.176 (3.098) 444,704 92.626 79,452 Depreclatlon At l April 2023 Charge for the year Disposals At 31 March 2024 43,070 1.852 67,340 3,165 210,587 10,432 (3,098) 217,921 320.997 15,449 13.098) 333,348 44,922 70.505 Net book value At 31 March 2024 47.704 8.947 54.705 111,356 At 31 March 2023 49,556 9,462 62,611 121,629 Included within the net book value of land and buildings is £47,703 relating to freehold land and buildings, £1 relating to long temi leasehold land and buildings and £nil relating to short term leasehold land and buildings. Page 52
SCOUTSCYMRU NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 10. TANGIBLE FIXED ASSETS {contlnued) Yr Hafod {leasehold) and Cornel (free1ld) Training Centres are held by the Scout Association Trust Corporation on behalf of Scoutscymru under declarations of trust dated 5 March 1960 and 3 May 1969 respectivety. Yr Hafod's lease runs for 99 years from 29 September 1958. In the year ended 31 March 1997 the cost of the lease was written off as it may only be used forscouting purF)oses and therefore has no rnarket value. The write off amounted to £30.553. 11. FIXED ASSEf INVEsfMEMf5 Collective Investment funds Market value at l April 2023 Additions Dlsposals Unrealised gainslllosses) {revaluations) Realised losses Market Value at 31 March 2024 365.990 44.329 137,7861 29,729 11,306) 4(N).956 Historic cost At 31 March 2024 373.344 At 31 March 2023 367,333 OF the investments £20,225 {2023: £19,497) are held in overseas equity collective investment funds, whlch are all traded on the London Stock Exchange. The investments portfolio indudes the following categorles of Investments that Indlvldually account for more than 5% of the total investments at the year- end: 2024 2023 UK direct equities Other sterling ted interest Asia Pacrfic equlties Global Investments Absolute Return Bond funds 42,182 73,950 20,225 210,765 39,709 65,492 19,497 184,708 27,311 12. STOCKS 2024 2023 Finished goods and goods for resale 7,378 10.530 Page 53
SCOUTSCYMRU NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 13. DEBTORS 2024 2023 Trade debtors Prepayments and accrued income 688.489 58,281 746,770 634,085 232,937 867,022 The slgnificant decrease in Prepayments compared to last year mainly relates to expenslng the payments made to The Scout Association for the World Scout Jamboree 2023 as the event occurred during 2023124. 14. CREDoRs 2024 2023 Due within one year: Trade creditors Other creditors Accruals and deferred income 1,51XI 7,557 837,026 846.083 2,875 23,675 950,820 977,370 2024 2023 Deferred Income Balance at l April 2023 Released to income Deferred income received in the year 937.683 1937.683) 823,482 823,482 680,906 (641,906) 898,683 937,683 st Balance as at 31 March 2024 During 2023124 Deferred income lateS to Area Census fees, Mountaln TralninglActivty team booking fees and event participant fees (Roverway 2024 and All Wales Scout Camp 2024) received in advance and whlch relate to a future financial period. The deferred income relating to Area Census fees also Includes the UKHQ census fees subsequently payable to The Scout Assoclation which Scoutscymru collects as agent on their behalf. The decrease in deferred income compared to last year mainly relates to releasing the income received from World Scout Jamboree 2023 participants as the event occurred during 2023124. COMMITMENTS There were no capitsl commitments at the end of eltherflnanclal year. At 31 March 2024, the total future minimum lease payments under non-cancellable operating leases tor each of thefollowing periods are: Page 54
SCOUTSCYMRU NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 IS. COMMITMEMfs (contlnued) Land and bulldlngs 2024 2023 Other 2024 2023 Explry date: Within one year Within 2-5 years Over 5 years 17,793 71,172 3.217 92.182 17,903 3,237 1,296 2,813 4.221 503 21,140 4,109 16. UNRESTRICTEO FUNDS At31 March 2024 At IApril 2023 Galns/ (loe5> Income Expenditure Transfers Designated funds Scoutscymru Grants Fund Activities fund 111,444 23,921 135,365 13.967) 107.477 11.534 119,011 (12.387) 112.387) {3,967) General funds Scoutscymru SWAT Cornel Scout Centre Yr Hafod Training Centre Bushscout Cymru 608,458 5,801 878,237 2079 1862,8191 119,414) 12,387 28,423 664,686 7,266 94,162 31.589 (32.463) 93.288 59,058 (59} 767,420 44,328 14,833 989.866 (44.762) 113.669) 1973,127) 58.624 1.105 824.969 12.387 28.423 Total funds 902,785 989,866 {977,094) 28A23 943.980 The general unrestrlcted funds are held to promote and develop Scouting in Wales. The Scoutscymru Grants Fund opened to applications from Groups, Districts and Areas in Wales from l April 2018. See Note 6 for details of grants paid duringthe year. The Actlvitles fund ring fences surplus funds from Scoutscymru eventslactivities (such as All Wales Scout Camp, Cub Fun Day, AWESOME etc.). Future All Wales actNities and events can then apply to the Board of Trustees for access to these funds as part of their budgeting process. The transfer out in 2023124 relates to covering the costs paid in advance for All Wales Scout Camp taking place in 2024125 that wouldn't be refunded rfthe event didn't take place. Page 55
SCOUTSCYMRU NOTES TO THE FINANCIAL STATEMEKrs FOR THEYEAR ENDED 31 MARCH 2024 I& UNREStRICtED FUNDS {continuedl Prior eor At31 March 2023 At l April 2022 Gainsl {losses) Income Expenditu Transfets Deslgnated funds Scoutscymru Grants Fund Activities fund 129,507 24,261 153,768 (16,520) (1,543) (340) (1,883) 111,444 23,921 135,365 (16,520) General funds Scoutscymru SWAT Cornel Scout Cent Yr Hafod Training Centre Bushscout Cymru 524,149 11,476 594,236 15,414 (486,407) (24,189) (2,760) 3.1(Xl 120,760) 608,458 5,801 102.829 19.004 (27,671) 94,162 73,287 1,133 712,874 40.914 2,134 671,702 155,143) (4,869) {598,279) 59,058 (59) 767,420 1,543 1,883 (20,760) Total funds 866,642 671,702 (614,799) {20,760) 902,785 17. RESTRicfED FUNDS At31 March 2024 At l Aprll 2023 Galns/ (losses) Income Expendlture Transfers Restricted funds M1551on To Seafarers 396 396 (3961 (396) Scoutscymru are working in partnership with the Mission To Seafarers charity on new programme resources and badges to explore the world of seafaring. Mlssion to Seafarers are reimbursing Scoutscymru for costs incurred in relation to this ongoing new Mission to Seafarers Programme. Page 56
SCOUTSCIMRU NOTES TO THE FINANCIAL sfATEMEKrs FOR THE YEAR ENDED 31 MARCH 2024 17. RESTRICTED FUNDS Icontinued) Prior At31 March 2023 At l Aprll 2022 Gain51 11055e51 Income Expenditure Transfers Restricted funds Mission To 5eafars 882 882 (882) (882) 18. STATEMENT OF FUNDS At31 March 2024 At l April 2023 Galns/ (losses) Income Expenditure Transfer Designated funds General funds 135,365 767,420 902,785 (3.961) (973.127) (977.094) {396) (977,490) 112,387) 12,387 119,011 824.969 943,980 989.866 989.866 396 990,262 28.423 28.423 Restricted funds 902,785 28,423 943,980 Prior At31 March 2023 At l April 2022 Gains/ {lossesl Income Expenditure Transfer Deslgnated funds General funds 153,768 712,874 866,642 (16,520) 1598,279} 1614,799) {8821 {615,681) (1,8831 1,883 135,365 767,420 902,785 671,702 671.702 882 120,7601 120,760) Restricted funds 866,642 672,584 120,760) 902,785 Page 57
SCOUTSCYMRU NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 MARCH 2024 19. ANALYSIS OF NET ASSEfs BEfwEEN FUNDS Total funds 2024 Total funds 2023 Unrestricted funds Restrlcted fvnds Tangible fixed assets Fixed asset investments Current assets Creditors due within one year 111,356 400,956 1.277.751 (846083) 943,980 111.356 400.956 1277.751 1846,083) 943.980 121,629 365,990 1,392,536 {977,370) 902,785 20. RECONCIUATION OF NEf INCOMVIEXPENDITURE) TO NET CASH FLOW FROM OPERATING AcnvmES 2024 2023 Net Incomel{expenditure} for the reportin8 perfod (as per the SLitement of Flnanclal Artlvltles) 41,195 36,143 Adjustmentsfor.. Depreclation charges {Gains)/losses on Investments Dividends, interest and rents from investrnents (InCase)1decrea5e in stocks (Increase)/decrease in debtors Increase/(decrease) in creditors Net cash provided byllused inl operatin8 artlvltles 15,449 (28,423) (13,701) 3,152 120,252 (131,287) 6,637 17.178 20,760 (13,537) 7,051 1375,526) 245,508 (62,423) Anal 1$ of Cash and Cash E uivalents Cash at bank and in hand Total Cash and Cash Equlvalents 523,603 523,603 514,984 514,984 2L RELATED PARTY TRANSAcfioNS There were no disclosable related partytransactions during the period. Page 58
SCOUTSCYMRU NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 22. COMPARATIVE STATEMENf OF FINANCIAL ACTIVrnES Total funds 2023 Unrestricted funds Restrlcted funds Note Income and endowments from: Donations and legacles Charitable activities Investments Other income Trtal Income and endowments 278 657,264 13,537 623 671,702 278 658,146 13,537 623 672.584 882 882 Expenditure on: Raising funds Charitable activities Total expendlture 16,576 598,223 614,799 16,576 599,105 615,681 882 882 Net golns/{lossesJ on investments Net income/(expendltureJ 16 120,760) 36,143 (20,760) 36,143 Reconciliation of Funds Total funds brought forward Totalfvnds carriedfvnvord 16,17 18,19 866,642 902,785 866,642 902,785 Page 59