# ## |||Page| |---|---|---| |Trustees'
report||1-13| |Statement oftrustees'|responsibilities|14| |Independent
auditor's|report|15-18| |Statement
offinancial|activities|19| |Balance sheet||20| |Statement ofcash flows||21| |Notes to the financial|statements|22-37| ## ## ## ## ## ## |Purpase ond||||Acg Hp|gpstsms||||||| |---|---|---|---|---|---|---|---|---|---|---|---| |Pdnclpkn||||mess|ndnking||||||| |Wc Iww
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kmploteer||||| |||||S.Resovme\|Ihe stsmm||appmrssl|Goals|||| ||||||Iris'teed||||||| |Our long-term|goals for|2020/2025 are:|||||||||| |Activity Areas
Long-Term|||Goals||||||||| |Governance|To become||an exemplar of|good governance
in compliance|||with charity and||||| ||co-operative||expectations||||||||| |Service Delivery
To become|||an exemplar of|the co-productive
achievement|||||||| ||ofwell-being||outcomes for|the people|we support||||||| |yyorjffo roe|To|have the|lowest staff turnover
and absence rates in our||||sector||||| |Digital|To|become|an exemplar of|the good use ofdata, digital systems and||||technology|||in a| ||well-being/outcomes-focused|||support|provider||||||| |Resources|To|build our|reserves to the level desired
in our Reserves Policy||||||||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |P Higson —Chair|| |---|---| |G Duncan|| |R Dineen - resigned|1stApril 2021| |I Derrick|| |H Tyrrell - resigned|4th November 2021| |C Bolton - resigned|17th August 2021| |RAhmed|| |C Williams|| |I Brown - appointed|20th April 2021| |W Copp - appointed
SPullen - appointed|18th May 2021
18th May 2021| ## ## |Reference|Reference|and administrative|details|||||||| |---|---|---|---|---|---|---|---|---|---|---| |Charity|Name|||Cartrefi Cymru Co-operative||||Limited||| |Charity|Number|||702290||||||| |Company||Number||2420623||||||| |Registered||Office||5 &6Coopers Yard||||||| |||||Curran
Road||||||| |||||Cardiff||||||| |||||CF105NB||||||| |Company||Secretary||A Roper||||||| |Trustees||||P Higson - Chair||||||| |||||G Duncan||||||| |||||R Dineen - resigned||1/4/21||||| |||||I Derrick||||||| |||||H Tyrrell- resigned|4/11/21|||||| |||||C Bolton - resigned||17/8/21||||| |||||RAhmed||||||| |||||CWilliams||||||| |||||I Brown - appointed||20/4/21||||| |||||WCopp- appointed||18/5/21||||| |||||S Pullen - appointed||18/5/21||||| |Senior Management||||A Roper (Chief Executive)||||||| |||||J Nicholson
(Operational
Director)||||||| |||||SCarey (Director —Mid and||||South||East Wales) - left October| |||||2020||||||| |||||SJones (Regional||Operational|||Director)|| |||||SCoffey (Director of Finance)||||||| |||||C Ferris (Assistant||Director||—People)||| |||||KNlilliams
(Assistant|||Director —Resources) - left April 2020|||| |||||G Jenkins (Operational|||Director)|||| |||||N Phillips (Assistant||Operational|||Director)|| |||||KWilshaw
(Assistant|||Operational|||Director)| |Auditors||||Azets Audit Services||||||| |||||Ty Derw||||||| |||||Lime Tree Court||||||| |||||Cardiff Gate Business|||Park|||| |||||Cardiff||||||| |||||CF23 8AB||||||| |Bankers||||National Westminster|||Bank|PLC||| |||||277 Cowbridge
Road|||East|||| |||||Canton||||||| |||||Cardiff||||||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||||Restated| |---|---|---|---|---|---|---| ||||Unrestricted|Restricted|Total|Unrestricted| ||||funds|funds||funds| |||Notes|2021
f|2021
f||2020f| |Igggmafmgt;||||||| |Donations and legacies||4|568,000||568,000|3,510| |Charitable
activities||5|29,593,109|339,267|29,932,376|25,832,650| |Investments||6|1,153||1,153|1,579| |Total income|||30,162,262|339,267|30,501,529|25,837,739| |~Ex
!~ni~n:||||||| |Charitable
activities||7|28,127,500|339,267|28,466,767|26,948,106| |Other||||||130,925| |Total resources expended|||28,127,500|339,267|28,466,767|27,079,031| |Net income/(expenditure)|forthe year/|||||| |Net movement
in funds|||2,034,762||2,034,762|$1,241,292)| |Fund balances at 1April 2020|||4,485,273||4,485,273|5,726,565| |Fund balances at 31 INarch 2021|||6,520,035||6,520,035|4,485,273| ## ## ## ||||2021||2020|| |---|---|---|---|---|---|---| |Fixed assets||||||| |Tangible assets||12||2,370,743||2,515,560| |Current assets||||||| |Debtors|||4,389.538||3,715,695|| |Cash ai bank and in|hend||829,325||24228|| ||||5,218,863||3,739.923|| |Crecfltors: smounls|falling due within|||||| |one year||15|(866,149)||(1.481,527)|| |Nel current assets||||4,350,714||2,258,396| |Total assets less current liabilities||||6,721,457||4.773,956| |Creditors: amounts|falling due after|||||| |more than one year||||(201,422)||(288,683)| |Nel assets||||6,520,035||4,485,273| |Income funds||||||| |~n||||||| |t7esignated
funds||20|4.305,S50||451,6SS|| |General unrestricted|funds||2,214,185||4.033,385|| |||||6,520.035||4,485,273| |||||8,520,035||4,485,273| ## ## ## ||||||2021||2020| |---|---|---|---|---|---|---|---| |||||Notes|6||6| |Cash flows from operating||activities|||||| |Cash generated
from/(absorbed|||by)|25|||| |operations||||||1,194,736|(1,058,653)| |Investing
activities|||||||| |Purchase oftangible
fixed|assets||||||(86,930)| |Investment
income received|||||1,153||1,579| |Net cash generated
from/(used|||in)||||| |investing
activities||||||1,153|(85,351)| |Financing
activities|||||||| |Repayment
ofbank loans|||||(87,261)||(81,246)| |Net cash used In financing||activities||||(87,261)|(81,246)| |Net increase/(decrease)|in|cash and||cash|||| |equivalents||||||1,108,628|(1,225,250)| |Cash and cash equivalents||at beginning||ofyear||(327,709)|897,541| |Cash and cash equivalents||at end ofyear||||780,919|(327,709)| |Relating to:|||||||| |Cash at bank and in hand||||||829,325|24,228| |Bank overdrafts
included|in|creditors|||||| |payable
within one year||||||(48,406)|(351,937)| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |||||2021|2020| |---|---|---|---|---|---| |||||6|6| |Service users|charges'|receivable||2,964,264|4,129,718| |Local authority|contracts|||25,081,775|20,325,841| |Staff costs recharged|||||165,451| |Other grants and allowances||||1,831,749|1,042,634| |Appointeeship|income,|consultancy|and central||| |sales||||30,893|25,867| |Meeting
room|hire|||23,695|15,209| |Other income|||||127,930| |||||29,932,376|25,832,650| |Analysis
by fund|||||| |Unrestricted
funds||||29,593,109|25,832,650| |Restricted funds||||339,267|| |||||29,932,376|25,832,650| ## |Unrestricted|Unrestricted| |---|---| |funds|funds| |2021|2020| |6|6| |1,153|1,579| ## ## ## ||||||||2021|2020| |---|---|---|---|---|---|---|---|---| ||||||||6|6| |Staff costs|||||||22,752,240|21,220,075| |Depreciation
and|impairment||||||144,817|209,791| |Other salary costs|||||||413,451|401,648| |Accommodation|costs||||||2,256,976|1,659,517| |Other costs|||||||127,236|341,290| |Operating
leases|||||||88,150|105,635| ||||||||25,782,870|23,937,956| |Share ofsupport|costs (see||note 8)||||2,667,934|2,995,398| |Share ofgovernance||costs|(see note 8)||||15,963|14,752| ||||||||28,466,767|26,948,106| |Analysis
by fund||||||||| |Unrestricted
funds|||||||28,127,500|26,948,106| |Restricted funds|||||||339,267|| ||||||||28,466,767|26,948,106| |Support costs||||||||| ||||Support Governance||2021|Support|Governance|2020| ||||costs|costs||costs|costs|| |||||6||6|6|| |Staff costs|||1,978,456||1,978,456|1,627,264||1,627,264| |Accommodation|costs||307,769||307,769|198,503||198,503| |Other costs|||381,709||381,709|1,169,631||1,169,631| |Accountancy fees||||13,140|13,140||13,140|13,140| |Trustees'
meetings||||2,823|2,823||1,612|1,612| ||||2,667,934|15,963|2,683,897|2,995,398|14,752|3,010,150| |Analysed
between||||||||| |Charitable
activities|||2,667,934|15,963|2,683,897|2,995,398|14,752|3,010,150| ## ## ## ## ||||||||Total|Unrestricted| |---|---|---|---|---|---|---|---|---| |||||||||funds| ||||||||K|| ||||||||2021|2020| |Net|loss|on|disposal|oftangible|fixed|assets||130,925| |||||||||130,925| ## ## |||||2021|2020| |---|---|---|---|---|---| |||||Number|Number| |Supported
accomodation|and|domiciliary|care|1,106|1,094| |Management
and administrative||staff||59|59| |Total||||1,165|1,153| |Employment
costs||||2021
f|2020
E| |Wages and salaries||||22,429,562|20,782,203| |Social security costs||||1,755,832|1,539,018| |Other pension costs||||545,302|526,118| |||||24,730,696|22,847,339| ## ## ## |The
number
of employees|The
number
of employees|The
number
of employees||whose|whose||annual|remuneration|remuneration|was 660,000|was 660,000|or||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |more were:||||||||||||||||| ||||||||||||||2021|||2020| ||||||||||||||Number|||Number| |660,000 - 870,000||||||||||||||1||1| |670,000 - 880,000||||||||||||||1||1| |Key management|personnel|||||||||||||||| |The key management||personnel|||of|the charity during|||the|period are|noted|in the trustees||report.||| |The total emoluments||and||benefits|||received
by the key management|||||personnel|during
the||year was|| |6581,338(2020:6418,629).||||||||||||||||| |Redundancy
costs|incurred||during|||the year||totalled|anil (2020:6146,879).At year||||end|redundancy||costs| |of Enil (2020:6116,274)were||||outstanding.||||||||||||| |Tangible fixed assets||||||||||||||||| ||||||||Freehold lend||Fixtures end||CornputersMotor||vehicles|||Total| ||||||||end|buildings||fittings||||||| |||||||||6||6||6||6||| |Cost||||||||||||||||| |At 1April 2020|||||||2,473,125|||35,507|508,456||13,995||3,031,083|| |At 31 March 2021|||||||2,473,125|||35,507|508,456||13,995||3,031,083|| |Depreciation
and|impairment|||||||||||||||| |At 1April 2020||||||||236,360||8,915|256,486||13,762|||515,523| |Depreciation
charged||in the|year|||||36,898||10,294|97,392|||233||144,817| |At 31 March 2021||||||||273,258||19,209|353,878||13,995|||660,340| |Carrying
amount||||||||||||||||| |At 31 March 2021|||||||2,199,867|||16,298|154,578||||2,370,743|| |At 31 March 2020|||||||2,236,765|||26,592|251,970|||233|2,515,560|| ## ## ## ## |13|Debtors|||| |---|---|---|---|---| ||||2021|2020| ||Amounts
falling due within one year:||6|6| ||Trade debtors||3,983,547|3,552,608| ||Prepayments|and accrued income|405,991|163,087| ||||4,389,538|3,715,695| |14|Loans and overdrafhr|||| ||||2021|2020| |||||6| ||Bank overdrafts||48,406|351,937| ||Bank loans||283,669|370,930| ||||332,075|722,867| ||Payable
within|one year|130,653|434, 184| ||Payable after|one year|201,422|288,683| ## |Creditors: amounts
falling due within one year|||| |---|---|---|---| |||2021|2020| ||Notes|6|6| |Bank loans and overdrafts|14|130,653|434,184| |Other taxation and social security||402,928|409,301| |Deferred income|17|42,268|| |Trade creditors||96,181|478, 154| |Other creditors||130,833|2,170| |Accruals||65,286|157,718| |||868,149|1,481,527| ## ## ## ## |Credi|tom: amounts
falling due after|more than one year||| |---|---|---|---|---| ||||2021|2020| |||Notes|6|8| |Bank|loans|14|201,422|288,683| ||||2021|2020| |---|---|---|---|---| ||||8|8| |Other deferred|income||42,268|| ||||2021|2020| ||||8|8| |Brought forward||||140,586| |Income received||in year|42,268|| |Income released||in year||(140,586)| |Carried forward|||42,268|| ## ## ## ## |||Movement||Movement|in funds||| |---|---|---|---|---|---|---|---| |||in funds|||||| |||Incoming|Balance at|Incoming|Resources||Balance at| |||resources|1 April 2020|resources|expended|31|March 2021| |||6|6|6|||| |HMRC Coronavirus|Job Retention||||||| |Scheme||||339,267|(339,267)||| ## ||||eO0
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CEE| ## ## ## ||2021|2020| |---|---|---| ||E|E| |Within one year|30,784|37,278| |Between two and five years|36,478|58,013| ||67,262|95,291| ## ## ## |2020 no balance was outstanding.|2020 no balance was outstanding.|(2020 -|none).||| |---|---|---|---|---|---| |Cash generated
from operations||||2021|2020| |||||E|E| |Surplus/(deficit)
for the year||||2,034,762|(1,241,292)| |Adjustments
for:|||||| |Investment
income recognised|in|statement|offinancial activities|(1,153)|(1,579)| |(Gain)/loss
on disposal oftangible||fixed assets|||130,925| |Depreciation
and impairment
oftangible fixed assets||||144,817|209,791| |Movements
in working capital:|||||| |(Increase)
in debtors||||(673,843)|(473,896)| |(Decrease)/increase
in creditors||||(352,115)|457,984| |Increase/(decrease)
in deferred|income|||42,268|(140,586)| |Cash generated
from/(absorbed||by) operations||1,194,736|(1,058,653)| ## ## ## |26|Analysis ofchanges
in net funds/(debt)|Analysis ofchanges
in net funds/(debt)|||| |---|---|---|---|---|---| ||||A11April 2020f|Cash llowsAt 31 March 2021
8
8|| ||Cash at bank and|in hand|24,228|805,097|829,325| ||Bank overdrafts||(351,937)|303,531|(48,406)| ||||(327,709)|1,108,628|780,919| ||Loans falling due|within one year|(82,247)||(82,247)| ||Loans falling due|after more than one year|(288,683)|87,261|(201,422)| ||||(698,639)|1,195,889|497,250|