REGISTERED CHARITY NUM8ER: 524441 REPORT OF THE TRUSTEES AND UNAUOITED FINANCIAL STATEMENTS FOR THE YEAR eNDED 31 MARCH 2025 FOR MILFORD YOUTH MATTERS Bevan Buckland LLP Chartered Accountants Castle Chambèrs 6 Westgata Hill Pembroke P8rnbroke5hire SA71 4LB MILFORD YOLryH mA￿ERs CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 Pag• R•port ofthe TrustWg Ind•p•ndent Examln•rfs R•port Stat•mont of Flnanclal Activitlo5 Balance She•t Notes to th• Flnaneial Statern•nts 7 to 11 D•talled Stat•meni of Flnonclal A¢tlvltl•8 12 MILFORD YOUTH MATTERS REPORT OF THE TRUSTEES FOR THE YEAR ENDEO 31 MARCH 2025 The trustees p￿sent their report with the fin8ncial statements of the charity for the year ended 31 March 2025. The trust8e5 have adopted thè prowsions ol Accounting and Raporting by Chariti•s.' Statemènt of Recommandèd Practice appli¢8bltr to ¢hariknas prepanng their accounts in a¢¢ordanc¢ the Financial Reportiro Standard applicabk in the VK and Republic of Ireland IFRS 1021 (effective 1 January 20191. OBJECTIVES AND ACTP4ITIES Oblgctlvg8 and alm$ Thè object of the charity is to act as a resource for young people bets¥een the ages 0111 to 25 living in Milford Haven and thè gurrounding area by provKling adwce and assistance and organising programmes of educational, physical an(J other acbwts.es as a means of.. IA) helping young people to advan￿ in life by developing Iheir skills, caparyties and capabilibe5 to enabltr th•m to partiupate in 50Cl8ty as ind•p•nd•nt, mature and ￿SPonSible individuals thereby gnhancing their employability. IBI ProMding educational. iecre8ts.onal and lèisure time activity In the intorèst ol improving he8lth and social welfare for young people I1￿7r0 in the area of benefft who ha￿ nèad by rèason of th&r youth, age, povety or Social and e￿n0￿1¢ cIr￿MStanceS wth a view to irnproving the condib.ons of liltr ol $u¢h porson$. Publlc bonefft Milford Youth Matters e￿$ts to assist young people agexl expèriences, prowded additional opportunrties lor social interaction and supportèd engagement for young people who were oth¢Thvtse isolaled. These youth4ed developments str•ngthened the role of Unit C as an induswe and attractive space, particularly for first-time parbcipants and those facing barriers to participab'on. Beyond Unit C, Milford Youth Matters deli¥tred ¥ programmè of ccmmunity-basad events and actiMtie$ that dirèL*iy supported employabilty and skills develotment for youry paople aged 15 and ovèr. During the funding period. Milford Youth Matters supported local evsnts and activities. exceading Its target set out. d8monstratiTr3 strong delisrry capacity and community reach. These events provided structured opportunitvds for young people to volunteèr. ongage with employers and community partners, and de￿loP practical experiencè in ￿al-wo￿￿ settings. Employment-r818ted outcornes a significant achievement durirrfJ the year. A total ol lorty-eight young people were supported to gain ￿COgnised qualificatt'ons, 8xceeding the tsrg8t of thirty. Thèse qualifications enhanced participants, readiness for the workplace and improved their prospects for progression into lurther education. training or ernployrnent. In additi'on, forty•nin8 young peoFIo We￿ supported to engage in structured life skills development, a98in exceedin9 the tsrget olthirty. Th8s8 Itfe skilLs Ineluded communication, teamwoth. sgif-managernent. tsmekeeping and problem-solving, 811 ol vthich are essèntial for sustaining empjoyment and navigating the transrtion from •ducation into the wod(lorc8. Voluntéerin9 played 8 central fol8 in ernployrnenl praparation, thirty volUnt￿ring opportunits.es supported during th8 year. rnèèting the full project target. Through volunteering at community events. fundraising acliviknes and organisational initiatives. young peop￿ gained practscal experience, developèd confidtsnce and learned to take responsibility in StructU￿d environments. This hands-on 0xper￿n¢# allowed young p&opl8 to buihy so¢ial capital by Connecting vlth èmployers. community members and peers. expanding Iheir netsvorks and Increasing awareness ol local opportunrties. Workplace readinèss was further strengthened through frtUS8d engag6men¢ on amployer expe¢tab"ons. Foty-nin8 young people ￿tre supported to becomtr farniliar with $tandar(Is ol beha￿our in the workplace. èxceeding thè tsrget of thirty. Thi5 includ8d understanding prof$5sionalism, e¢mrnuniestion. tsamwork, punctuality and appropriate eonduct. all reinforced through real-workj volunteering, evenls ¢J81ivery and supported activities. These experiences h&lped young People to bridge tha 9ap ￿￿¥￿en fom)al educatson and the •xpectations 01 employment, supporting srnoother tr8nsikn.ons into work or training. Communty engagement activities throughout the year fvrther reinforced empjoyability outcornes. Parb"ripation in Milford Haven Carnival. th? Charity Golf Day and tharity football Matches pro*ided young pèople wth opportunitiès to work alongslde businesses. employ#r3 and community stakeholders, developing confthnr*. leadership and interpersonal skills. IAany of these events were organi$gd or supported by young volunteers, allowing them to gain experience in planning, organisal'on, communication and problem401ving Vathin real opef4tional enwronments. Improwng cornmunity intrastrueture also supported ornpbymant-r81ated development by providing safe. atressibla spaces for struclured activty ond engagernent. Thè refurbishmenl ol Ioc81 tennis and baskètball courts increas8d opportunlb"è$ for physical act'vaty, teamwork and 18adefship. suppo￿n9 both wellbeir¥J and transfarable skills developrnent. Increas•d $taffin9 eapacity throughout thÉ fun(Jing ￿nIx% was tssenbal in a¢h￿VIng these oulcorne8. Ad¢Jitional staffing énabled more consislent engagement. inereased contact time with youTrJ people and great4r ff￿bilIty to prowd• tsilored support. Thi5 capacity allowed tm8 organisation to movè from r&active crisis support towards earfy inter¥tntion and prevantstive w￿rk. 5upporbng young people to remain engaged and focused on positive pathways. Page 2 MILFORD YOUTH MATTERS REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 All provision was delivered on a voluntary. Open-8￿$$ basis and was inclusive ol youno people wotected ch8f8Ctari$ts¢s. Targeted support en$U￿d that barriers to parti¢ipats"on wor¢ raduced and that all young peop￿, ardltss ttf bad(ground or need, were able to aecèss opportunities to d8veltsp skills, 98in experièneè and bulk confidence. Despits significant sucTrss in exceeding k8y ern￿oYabllity and skills targets. dem8nd for seThice5 continued to exceed pacity. Leaming from this pewitsd wll Inform future delivery. wth plans to increase the numbgr of loral events and actiwl'es, expancl capacity through the development of the MYM Academy and make 9￿ater Use of digitsl systsms lo support engagement, ccmmunic8tion and progression pathways. On going commitment has enabled Milford Youth Matters to delfver hlgh-quallty. I￿luSive and inpacthjl prowsion Ihroughout the 2024r25 financial year. Through enhanced staffing. stroThJ partnerships, responsive youtNed se￿￿$ and a C￿ar focus on 8mployment-related development for young peopltr Milford Youth Matt•rs has empowered young P8op18 Wlth the skills, qualifications, confidence and ayperience needed to prograss into education. employrnènt and training, while ¥trength8nin9 communrty cohèsion and laying firm foundations for future growth and positsvo chgngè. FINANCIAL REVIEVI Res8rveB pollcy R•serves of £367,592 cash at bank were held at the year end of hthich £248,738 are held in re51ricted hJnd$. The tharity record￿ a surplus of £157.622. The Trustees have reviewed Ihe financial pOS￿"0n and are sabsfied that the ¢harty is able to continue in operatson for the foreseeable futura and for at l•ast thè ￿xI ts￿Ve months. STRUCTURE, GOVERNANCE AND MANAGEMENT Gov•mlng dtscum•nt The charity is controlled by its govèrnirny dtscumènt. a deed of trust and constitutes an uninetsrporott¢J charty. Rl•k manag•m•nt The trustees unrjerstand th8 requirements to monitor the risks facing the charity. Risk assessments a￿ undertaken by the charitys manager. REFERENCE AND ADMINISTRATIVE DETAILS Reg18t•r•d Charlty numb•r 524441 Principal addre#¥ Milford Haven Youth Centre Pric)ry Road Milford Haven Pèmbrokeshirè SA73 2EE Tw8t80# C E Charlton Mrs S L King Mrs E F Allen lffjsigned 1.5.251 Mrs J F8rmer lappointed 1.5.251 Ind•pendent Examlner Bevan Buckland LLP Chartered Accountants Castle Chambers 6 Wèstgate Hill Pambroke PeMbr0k￿h1r8 SA714L8 go Approved by order of the board of Irustees on ....... nd signed on it8 b8haif by.. CEChar Pag8 3 INDEPENDENT EK4MINER'S REPORT TO THE TRUSTEES OF MILFORD YOUTH MATTERS Ind•p•ndont 8xamlnorf$ report to thg twsto•$ ol Mllford Youth Matt•rs I report lo the charity trustees on my Éxamination of the accounts of Milford Youth Matters lthe Trust} lor the year ended 31 March 2025. Responsibilities and bas1$ of roport As th8 charity trustees of the Trust YOU are responsiblg for Ihe preparats'on of the accounts in accordan￿ ¢he reqU1￿MentS ol the Chartb8$ Act 2011 Ilhe ACVI. l in respect of my examination of the Trust's accounts carried out under Section 145 01 the Act and in carwng out my exam1nation I have followed 8118pplicable Directions 9iven by the Charity Commission under Section 14515llbl of tha A¢t. Indgpvnd•nt •xamln•V8 8tat•m•nt Since your ch8riVs gross incorne exceeded £250.(KJO your examiner must bo a m&mb•r of a list•d body. I can confirm Ihat l am qualified to undertake the examination because l arn a rnembgr of thè Institute of Chartèrad Aceountantg in England 8nd Wales, %thich is one of the listed b¢xlies. I have compl$tad my examin8tion. I confim that no material matters have come to my attenfjon In conneth.on wlth the ex8minabtsn givirvJ me cause to believe that in any matsrial resp8Ct. a¢¢ounting ￿COrdS not kept iri respect of thè Trust as requirèd by Sèction 130 of the Act,. or th8 accounts do not accord with those records, or the accounts do not comply the applicable requlrements conceming thé trjm) content of 8c¢ounts set OLrt in the Charities IAccounts and Reports) Regulations 2LK)8 olh•r than any wuirtmtrnl that the account5 givè a Ivuo and fair view which is not a matter conskyered as part ol an iThJèpandènt axamination. I have no concern5 and have come across no oth8r matters In connaction with thè èxamination to whi¢h att¢nli¢n $hould be drawn in this report in order to enable a prcper understanding ofthè 8¢f))unts lo be reached. Caroline Wheeler Bevan Buckland LLP Chartered Accountants Castle Chambers 6 W•slgat8 Hill Pèmbrok8 Pembrokèshiiè SA714LB Date.. 2£)Z Page 4 MILFORD YOUTH MATTERS STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 2025 Total lunds 2024 Total lund8 Unrestricted fvnd Restrided lu Notes INCOMe AND ENOOWMENTS FROM DonalK)ns and lègatsas 17.020 332,664 349,684 144,460 Othertrading 8cbvitr'e$ Investrn8nt income 5.415 2,340 5.4ts 2,340 10.662 2.080 Totsl 24.775 332,664 357.439 157.202 EXPENDITURE ON Charttabh actlvltlos Piow$ion ol seN¢es 5,633 194,184 199,817 129.199 IIEf INCOME 19,142 138,480 157,622 28.003 RECONCIUATION OF FUNDS Total funds browht forward 94,986 110.258 205,244 177,241 TOTAL FUNOS CARRIED FORWARD 114,128 248.738 362,866 205,244 The notes fom part of these financial 5tstetnenls Pag& 5 MILFORO YOUTH MATTERS BALANCE SHEET 31 MARCH 202S 2025 2024 Nots$ FIXED ASSETS Tangible assets 333 1,292 CURRENT ASSETS Cash at bank 367.593 208,592 CREDtroRS Amounts falling due within one y8ar 15,0601 14,6401 NET CURRENT ASSÉTS 362.533 203,952 TOTAL ASSETS LESS CURRENT LIABIUTIES 362.e66 205.244 NeT ASSETS 362.886 205,244 FUNDS Unrastricted funds Rèstricted hjnds 114.128 248,738 94,986 110,258 TOTAL FUNDS 362.866 205,244 The fina ial gtat*mènts approved by tho Board of Trustees and authorlsed for is$u• . and were signed on its behalf by.. Iton- Trustee S L ￿"Tra- Trustee Thè notgs forrn part ofthese financial stAtemènts Pagg 8 MILFORD YOUTh MATTeRS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 ACCOUNTING POLICIES 8•818 of p￿polI￿9 the fin¥n¢lal ststements The financial statemènts ol the eharity, which is a publie ￿neftt entity undèr FRS 102. hav¢ boèn praparèd in accordance with thÈ Ch8ri*ts SORP IFRS 102} 'Aecountsng and R$porting by Charities Ststement of Recornrnended Practice applicable to charit1È5 preparing their accounts in accordance with the Financial Reporbng Stsndard applicable In the UK and Republic of Ireland IFRS 102> leffecbve 1 January 20191.. Financial Reporting Stsndard 102 The Financial Reporting Standard applicable in the UK and Republic of I￿land, and the Charitses Act 2011. The financial statements have been prepared under the historical cost convention. Incom0 All incom• Is r￿gnISed in th8 St8t8ment of Financial Aetiwits"es once thè charity has ehb"tl&m&nt to tha fund5. it Is prob¥bla that tho In¢omo will b¢ r&eiv&d the amount ¢an b& m&asur¢d roli¥bly. EX￿ndItur* Liabilities are recognised as expenditure as soon as there 18 a legal or con8twcty.ve oblyation committing the charity to that expendilure. it is probable that a transfer of economic benefits wll be required in seltlernenl 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 agg￿gate all cost related lo 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. Tangible fix?d assets Deprecigtson 1$ prgvidod at thg following artnual r8t¢$ in ordar to writè off èach assat oval its asts'mat&d usèlul Fixtures and fitbngs 20% on c05t Taxawon Th• charity Is •x8mpt Irorn tsx on its chafitabla activities. Fund accounttng Unrestricted htnds can be used in accordance ￿1th Ihg ¢h8ri18ble objectiVg5 8t thg dis¢rets"on ol thg trustg&S. Restrictsd fvnds Can only be used for parD￿lar restri¢t8d purpos¢s within thg ol¥'8¢ts C*f the ¢h•rrty. Restri¢tsons anse when specified by the donor or when funds are raised for particular ￿Stricted purpose5. Furthar expLqnathon ollha nature and purposè of •ach fund is includ8d in the notès to the financial statements. P•n8lon ¢08ts and other Post￿tIr￿Ment bon•flts The Charity operates a defined contribution pension 5cherna. Contribution5 payablè to thtr ch8rWs pension scheme are charged to the Sts¢ernent of Financial Aaiviti?¥ in the period tg which they lglatg. Grant In¢omg Revenue grants are record at the date they are r￿1Ved and capital grants are released in line with the expected useful lif6 ol the related asset. DONATIONS AND LEGACIES 2025 2024 Donations Grants Other incomè 12.433 332,664 4.587 19.249 124,991 220 349,684 144,460 Pa￿7 conts"nuèd... MILFORD YOUTH MATTERS NOTES TO THE FINANCIAL STATEMENTS- contlnu•d FOR THE YeAR ENDeD 31 MARCH 2025 DONATIONS AND LEGAcies. ¢ontlnu•d Grants rèc•rv8d, indud8d in the above, are as frJllrA¥S'. 2025 2024 Policè Cornmi58ionerfs Fund Youth Bank Milford Haven Port Authority Pombrokeshire County Council Big Lottery Fund Groundworks UK PAVS Cornmunity Foundaiion Wales Street Games Moondance Foundation B & C E Charitable Trust Milford Haven Town Counol Youth Cymru Percy Bilton South Hook LNG Sported Foundation Cymbrogi Community CIC Children in Nead SwaTYdea Bay Founoatson Pembrokashire County Cwn¢il- UKSPF 4,999 280 18.609 40.917 4.116 83,116 20.CKIO 1.125 8.497 15.0Th) 300 35.OQ) 1.500 29,934 15,000 692 5.000 2.400 720 4.000 400 8,ODO 3,000 152,110 332,e64 124,991 OTHER TIIADING ACnVITIES 21Y25 2024 Fundraising èvÈnts Pop up shop 1,647 3,76B 6,626 4,036 5,415 10,662 INVESTMENT INCOME 2025 2024 Deposit account inter&st 2,340 2,080 TRUSTEES. REMUNERATION ANO BENEFITS The￿ We￿ no trustees. remuneration or gthÈr benefits forthe year ended 31 Klarch 2025 nor for the year ended 31 March 2024. Tru#te88' expenJe8 There were no trLSStees' expensès paid for the yèar ended 31 March 2025 nor for the year ended 31 March 2024. Page 8 continued... MILFORD YOUTH MATTERS NOTES TO THE FINANCIAL STATEMENTS- continu8d FOR THE YEAR ENDEO 31 MARCH 2025 STAFF COSTS Th& avorage monthty number of employees dunTrJ Iho year was as lollows.. 2025 2024 Stsff mem￿r$ No employees received 8molLvn8nts In excsss of £60,OCwJ. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTMTIES Unrestricted fvnd Restricted bjnd Total funds INCOME AND ENDOWMENTS FROM Donaty'ons and leg8ci8s 21.101 123.359 144.460 Other trading acbwties Inv•stsntnt Income 10.662 2,080 10,882 2,080 Total 33,843 123,359 157,202 EXPENDITURE ON Charitabl• Aetl¥ltS•# Provision ol s8rwces 20,537 108,862 129,199 NET INCOME 13.31XS 14.697 28,003 RECONCILIATION OF FUNDS Totsl funds brought fr>N4ard 61.680 95.561 177,241 TOTAL FUNDS CARRIED FORWARO 94,986 110,258 205,244 TANGIBLE FIXED ASSETS Fixtur•s and frttings COST At 1 April 2024 and 31 Mar¢h 2025 6,240 DEPRECIATION At 1 April 2024 Charge for year 4,948 959 At 31 March 202S 5,907 NEf BOOK VALUE At 31 March 2025 333 At 31 M#r¢h 2024 1,292 Page 9 Continutd... MILFORO YOUTH MATTERS NOTES TO THE FINANCIAL STATEMENTS- eontlnuod FOR THE YEAR ENDED 31 MARCH 2025 CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Taxation and sorial security Other creditors 3.635 1,425 3,635 1,005 5,060 4,640 10. ANALYSIS OF NET ASSETS BETWEEN FUNDS 2025 Tolal fvnds 2024 Total funds Unrestricled hjnd Rèstrictéd fun¢J Fixed &ssat$ Current assats Current liabilthe$ 333 115.220 11,4251 333 367.593 15,0601 1,292 208.592 14,6401 252.373 (3,6351 114,128 248.738 362,8S6 205,244 11. MOVEMENT IN FUNDS Net movement in funiys At 31.3.25 At 1.4.24 UDrngtrlct•d fund¥ G¢n8ral ftjnd 94,986 19.142 114,128 Restrl¢t•d fund• R¢¥lrictsd lunij 110.258 138,480 248.738 TOTAL FUNOS 205.244 157.622 362,866 Net movement in funds, includèd in the above are as folows.. Incowning r•50urces Resource8 expended Movement in funds Unrg$tricted lund8 General lund 24,775 15,8331 19,142 R•$trl¢t•d fund¥ Rostr)Ctsd lund 332.664 1194.1841 138.480 TOTAL FUNDS 357,439 1199,8171 157.e22 Comparatlves lor mov•m•nt In fundj Net movement in lunds At 31.3.24 At 1.4.23 unl￿trIcIad fund• Gener81 ftjnd 81.680 13,3C6 94,988 Rgstrl¢t•d lund8 Restrictsd lund 95.561 14,697 110,258 TOTAL FUNDS 177,241 28.003 205.244 Page 10 ntinued... MILFORD YOUTH ￿ThERs NOTES ro THE FINANCIAL STATeMENTS- contlnyed FOR THE YEAR ENDED 31 MARCH 2025 11. MOVEMENT IN FUNDS- ¢ontlnu•d Comparative net movement in funds, IndUd￿ in tha abovè arè as fr>ll0￿%.. Incoming resources Resources expended Movement in lunds Unrèstrletod funds General fund 33.843 120,5371 13,3Cfj R￿trICt•￿ fvnd8 RèstrICt￿ fund 123.359 1108.6621 14,697 TOTAL FUNDS 157.202 1129,1991 28.003 A current year 12 months and prior year 12 rnonths combined pos￿"0n is as follows.. Nèt mtsvém•nt in fvnds At 31.3.25 At 1.4.23 Unrnstri¢t•d funds General fuTrJ 81.680 32,448 114.128 Roatrt¢t•d fund• Restricted fund 95,561 153,177 248,738 TOTAL FUNDS 177,241 185,625 362,866 A cuffent yeai 12 months and prior year 12 months rLJmbine(J net movement in fvnds. included in the above are as follows.. Incoming r$sour¢g$ Restyjrces xpgndgd Movemènt in ftjnds Unrn$trlct•d lund8 G&nÈral lund 56.618 126.1701 32.448 Re8trletod fvnd$ Restricted fund 456,023 1302.8461 153.177 TOTAL FUNDS 514,641 1329,0161 185,625 12. RELATED PARTY DISCLOSURES Ther8 were no rglatgd party Iransadions lor the year gndad 31 March 2025. Page 11 MILFORD YOUTH MATTERS OÉTAILED STATEMENT OF FINANCIAL ACnVITIES FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 INCOME AND ENDOWMENTS Donatlon• and lega¢le Donations Grant5 Other income 12,433 332,664 4,587 19.249 124.991 220 349.684 144.460 Othertradln9 actlvltles Fundraising ￿nts Pop up shop 1.647 3.768 6.826 4,036 5.415 10.662 Snv•8tm•nt Incom• Deposit account interest 2.340 2.080 Total Incomlng r•sour¢•• 357.439 157.202 EXPENDrruRE Charitablo activ{￿@B Wagès Pensions Insuran¢8 Sundries Projects and actiwty costs Fixture5 and fittings 111.662 4,085 1,156 257 76,388 959 75,007 2.781 996 1,858 43.542 959 194,507 125.143 Support ¢o¥ts hlanagèrnent Rates and watgr Light and heat Tel•phon8 Accountancy Payroll fe&s 25 2.095 1.117 900 1,053 1,116 1,191 858 773 5,190 3,938 Govemancfr C￿18 Postag8 and stats'onery 120 118 Total resourc•s expended 199,817 129.199 Net Income 157.622 28,003 Thls page does r￿t fonn part ol the ststutory financial stat8m8nts Page 12