2021-03-31-accounts

CHARITY REGISTRATION NUMBER: 1039082

Garndiffaith Community Association Unaudited Financial Statements

31 March 2021

JONATHAN RHODES BSC BFP FCA

Chartered accountants Walter Hunter & Co Limited Chartered Accountants 24 Bridge Street Newport South Wales NP20 4SF

Garndiffaith Community Association

Financial Statements

Year ended 31 March 2021

	Page
Trustees' annual report	1
Independent examiner's report to the trustees	4
Statement of financial activities	5
Statement of financial position	6
Notes to the financial statements	7
The following pages do not form part of the financial statements
Detailed statement of financial activities	16
Notes to the detailed statement of financial activities	18

Garndiffaith Community Association

Trustees' Annual Report

Year ended 31 March 2021

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2021.

Reference and administrative details

Registered charity name	Garndiffaith Community Association	Garndiffaith Community Association
Charity registration number	1039082
Principal office	Top Road
	Garndiffaith
	Pontypool
	Torfaen
	NP4 7LT
The trustees
	Mrs H Excell
	Mrs G Clark
	Mrs S Clarke
	Mr G Davies	(Retired 30 November 2020)
	Mrs C Gulliford
	Mrs C Hewitt
	Mrs M Jones
	Mrs K Smith
	Mr B Stephens
Independent examiner	Mr Jonathan Rhodes BSc BFP	FCA
	Walter Hunter & Co Limited
	Chartered Accountants
	24 Bridge Street
	Newport
	South Wales
	NP20 4SF

Structure, governance and management

Nature of the Governing Document and constitution of the charity

The charity is governed by a Trust Deed. The constitution having been adopted on 27 January 2004.

The methods adopted for the recruitment and appointment of new trustees

All new trustees are elected at the Annual General Meeting by putting names forward for election or by being co-opted on during the year.

Relationships with other groups, charities and individuals

In prior years the charity has worked closely with The Garnsychan Partnership to run the weekly Lunch Club. Since March 2020 the club has not been able to operate due to Covid 19 restrictions. It is hoped that the club will resume during 2021/22.

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Garndiffaith Community Association

Trustees' Annual Report (continued)

Year ended 31 March 2021

Objectives and activities

A summary of the objects of the charity as set out in its governing document

The charity's objectives are:

1) To promote the well being of the public within the area by providing facilities for recreation, education and leisure activities;

2) To promote activities across the age range from pre-school to senior citizens;

3) To carry out such charitable purposes for the benefit of those living or working in the benefit area as the trustees, in their absolute discretion, from time to time decide.

Summary of main activities of the charity in relation to its objects

Due to Covid 19 restrictions being in place for most of the financial year the charity has not been able to operate its usual activities. It is hoped that most activities will resume during 2021/22.

With the charity unable to generate its own income, and in order to ensure the survival of the charity throughout the pandemic, the charity received additional Covid 19 support from Torfaen County Borough Council shown in note 8 to the accounts.

Achievements and performance

Investment performance achieved against investment objectives set

Investment income disclosed in the accounts is interest received on the charity's bank accounts. The charity has no other investments.

Financial review

Policies on reserves

The charity has funds set aside in a 'Building Account' to cover the cost of any 'one-off' repairs that need to be made to the hall. The other bank accounts of the charity have sufficient funds to cover the day-to-day running costs of the charity.

Principal funding sources and how expenditure in the year under review has supported the key objectives of the charity

As the charity was unable to operate its usual activities during much of 2020/21 it received Small Rates Relief Covid 19 Grants from Torfaen County Borough Council shown in note 8 to the accounts. Other smaller one-off Covid 19 grants from other funders are shown in note 5 to the accounts.

Donations are also received from time to time from various benefactors whose support of the charity is very much appreciated.

Availability and adequacy of assets of each of the funds

The board of trustees is satisfied that the charity's assets in respect of each fund are available and adequate to fulfil its obligations in respect of each fund.

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Garndiffaith Community Association

Trustees' Annual Report (continued)

Year ended 31 March 2021

Financial review (continued)

Transactions and financial position

The financial statements are set out on pages 7 to 14. These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011.

The statement of Financial Activities show net incoming resources for the year of a revenue nature of £6,451 (2020: £(42,829)). The deficit if after charging depreciation of £31,426 (2020: £31,426) in respect of the Millennium Hall.

The total reserves at the year end stand at £62,072 (2020: £55,621).

Specific changes in fixed assets

Changes in fixed assets are shown in detail in note 16 to the accounts.

Public benefit

The trustees confirm that they have referred to the Charity Commission's guidance on public benefit when reviewing the charity's aims and objectives and in particular planning future activities.

Plans for future periods

Following a difficult year of Covid 19 restrictions during 2020/21 the Board is now looking forward to gradually reintroducing activities at the hall during 2021/22; following the latest government guidance at all times.

The trustees' annual report was approved on 27 July 2021 and signed on behalf of the board of trustees by:

Mrs C Hewitt Trustee

Mr B Stephens Trustee

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Garndiffaith Community Association

Independent Examiner's Report to the Trustees of Garndiffaith Community Association

Year ended 31 March 2021

I report to the trustees on my examination of the financial statements of Garndiffaith Community Association ('the charity') for the year ended 31 March 2021.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

2. the financial statements do not accord with those records; or

3. the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Mr Jonathan Rhodes BSc BFP FCA Independent Examiner

Walter Hunter & Co Limited Chartered Accountants 24 Bridge Street Newport South Wales NP20 4SF

27 July 2021

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Garndiffaith Community Association

Statement of Financial Activities

Year ended 31 March 2021

Year ended 31 March 2021
			2021		2020
		Unrestricted	Restricted
		funds	funds	Total funds	Total funds
	Note	£	£	£	£
Income and endowments
Donations and legacies	4	1,480	–	1,480	2,092
Charitable activities	5	11,099	–	11,099	23,749
Other trading activities	6	1,432	–	1,432	58,844
Investment income	7	5	–	5	31
Other income	8	53,940	–	53,940	–
		────────	────	────────	────────
Total income		67,956	–	67,956	84,716
		════════	════	════════	════════
Expenditure
Expenditure on charitable activities	9,10	30,079	31,426	61,505	127,545
		────────	────────	────────	─────────
Total expenditure		30,079	31,426	61,505	127,545
		════════	════════	════════	═════════
		────────	────────	────────	─────────
Net income/(expenditure) and net
movement in funds		37,877	(31,426)	6,451	(42,829)
		════════	════════	════════	═════════
Reconciliation of funds
Total funds brought forward		20,901	34,720	55,621	98,450
		────────	────────	────────	─────────
Total funds carried forward		58,778	3,294	62,072	55,621
		════════	════════	════════	═════════

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 7 to 14 form part of these financial statements.

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Garndiffaith Community Association

Statement of Financial Position

31 March 2021

31 March 2021
		2021		2020
	Note	£	£	£
Fixed assets
Tangible fixed assets	16		6,686	39,003
Current assets
Stocks		–		351
Debtors	17	420		906
Cash at bank and in hand		57,059		23,648
		────────		────────
		57,479		24,905
Creditors: amounts falling due within one year	18	2,093		8,287
		────────		────────
Net current assets			55,386	16,618
			────────	────────
Total assets less current liabilities			62,072	55,621
			────────	────────
Net assets			62,072	55,621
			════════	════════
Funds of the charity
Restricted funds			3,294	34,720
Unrestricted funds			58,778	20,901
			────────	────────
Total charity funds	20		62,072 ════════	55,621 ════════

These financial statements were approved by the board of trustees and authorised for issue on 27 July 2021, and are signed on behalf of the board by:

Mrs C Hewitt Trustee

Mr B Stephens Trustee

The notes on pages 7 to 14 form part of these financial statements.

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Garndiffaith Community Association

Notes to the Financial Statements

Year ended 31 March 2021

1. General information

The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Top Road, Garndiffaith, Pontypool, Torfaen, NP4 7LT.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Since March 2020 the Covid-19 pandemic has seriously affected the UK generally. As a charity we have taken all necessary steps to combat the effects of the virus and to ensure that the charity is able to continue to operate.

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the

charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or

commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

Incoming resources

All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

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Garndiffaith Community Association

Notes to the Financial Statements (continued)

Year ended 31 March 2021

3. Accounting policies (continued)

Incoming resources (continued)

• income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

• expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.

• expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.

• other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Community Hall - 5% pa Straight line Fixtures & Fittings - 15% pa Straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

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Garndiffaith Community Association

Notes to the Financial Statements (continued)

Year ended 31 March 2021

3. Accounting policies (continued)

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

4. Donations and legacies

		Unrestricted	Total Funds	Unrestricted	Total Funds
		Funds	2021	Funds	2020
		£	£	£	£
	Donations
	Donations	1,480	1,480	2,092	2,092
		═══════	═══════	═══════	═══════
5.	Charitable activities
			Unrestricted	Restricted	Total Funds
			Funds	Funds	2021
			£	£	£
	Big Lottery Fund		7,400	–	7,400
	Torfaen County Borough Council		200	–	200
	Welsh Government		–	–	–
	Lloyds Bank Foundation		1,000	–	1,000
	Wales & West Utilities		1,200	–	1,200
	Torfaen Voluntary Alliance		699	–	699
	ASDA		600	–	600
			────────	────	────────
			11,099	–	11,099
			════════	════	════════

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Garndiffaith Community Association

Notes to the Financial Statements (continued)

Year ended 31 March 2021

5. Charitable activities (continued)

		Unrestricted	Restricted	Total Funds
		Funds	Funds	2020
		£	£	£
Big Lottery Fund		–	–	–
Torfaen County Borough Council		839	–	839
Welsh Government		–	22,910	22,910
Lloyds Bank Foundation		–	–	–
Wales & West Utilities		–	–	–
Torfaen Voluntary Alliance		–	–	–
ASDA		–	–	–
		────	────────	────────
		839	22,910	23,749
		════	════════	════════
Other trading activities
	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2021	Funds	2020
	£	£	£	£
Bingo Bar	–	–	2,878	2,878
Bingo Takings	–	–	10,965	10,965
Events	63	63	22,742	22,742
Room Hire	485	485	9,761	9,761
Bric-A-Brac Sale Proceeds	884	884	2,600	2,600
Box 13	–	–	4,498	4,498
Sale of Memorial Bell books	–	–	5	5
Millennium Flyer	–	–	5,395	5,395
	───────	───────	────────	────────
	1,432	1,432	58,844	58,844
	═══════	═══════	════════	════════
Investment income
	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2021	Funds	2020
	£	£	£	£
Bank interest receivable	5	5	31	31
	════	════	════	════
Other income
	Unrestricted	Total Funds	Unrestricted	Total Funds
	Funds	2021	Funds	2020
	£	£	£	£
Torfaen County Borough Council Small
Rates Relief Grant	45,000	45,000	–	–
HMRC Job Retention Scheme Grant	8,940	8,940	–	–
	────────	────────	────	────
	53,940	53,940	–	–
	════════	════════	════	════

6. Other trading activities

7. Investment income

8. Other income

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Garndiffaith Community Association

Notes to the Financial Statements (continued)

Year ended 31 March 2021

9. Expenditure on charitable activities by fund type

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2021
	£	£	£
Hall Activities	26,502	–	26,502
Refurbishment of toilet facilities	–	–	–
Support costs	3,577	31,426	35,003
	────────	────────	────────
	30,079	31,426	61,505
	════════	════════	════════
	Unrestricted	Restricted	Total Funds
	Funds	Funds	2020
	£	£	£
Hall Activities	67,752	–	67,752
Refurbishment of toilet facilities	–	22,910	22,910
Support costs	5,457	31,426	36,883
	────────	────────	─────────
	73,209	54,336	127,545
	════════	════════	═════════

10. Expenditure on charitable activities by activity type

	Activities
	undertaken		Total funds	Total fund
	directly	Support costs	2021	2020
	£	£	£	£
Hall Activities	26,502	3,577	30,079	73,209
Community Hall	–	31,426	31,426	31,426
Refurbishment of toilet facilities	–	–	–	22,910
	────────	────────	────────	─────────
	26,502	35,003	61,505	127,545
	════════	════════	════════	═════════
Analysis of support costs
		Community
	Hall Activities	Hall	Total 2021	Total 2020
	£	£	£	£
Staff costs	10	–	10	213
Communications and IT	349	–	349	467
General office	905	–	905	2,464
Governance costs	1,422	–	1,422	1,422
Depreciation	891	31,426	32,317	32,317
	───────	────────	────────	────────
	3,577	31,426	35,003	36,883
	═══════	════════	════════	════════

11. Analysis of support costs

12. Net income/(expenditure)

Net income/(expenditure) is stated after charging/(crediting):

Depreciation of tangible fixed assets

2021	2020
£	£
32,317 ════════	32,317 ════════

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Garndiffaith Community Association

Notes to the Financial Statements (continued)

Year ended 31 March 2021

13. Independent examination fees

	2021	2020
	£	£
Fees payable to the independent examiner for:
Independent examination of the financial statements	1,422 ═══════	1,422 ═══════

14. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

	2021	2020
	£	£
Wages and salaries	16,501	21,244
Employer contributions to pension plans	180	472
	────────	────────
	16,681	21,716
	════════	════════

The average head count of employees during the year was 2 (2020: 1). The average number of full-time equivalent employees during the year is analysed as follows:

	2021	2020
	No.	No.
Number of staff employed on hall activities	2 ════	1 ════

No employee received employee benefits of more than £60,000 during the year (2020: Nil).

15. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.

Travelling expenses totalling £10 were paid to one trustee during the year (2020: £103 paid to one trustee). The same trustee was also reimbursed £70 (2020: £120) for running expenses incurred privately on behalf of the charity.

No insurance has been purchased to protect the charity from loss arising from the neglect or defaults of its trustees, employees or agents or to indemnify its trustees, employees or agents against the consequences of any neglect or default on their part.

16. Tangible fixed assets

	Land and	Fixtures and
	buildings	fittings	Total
	£	£	£
Cost
At 1 April 2020 and 31 March 2021	637,741	54,060	691,801
	═════════	════════	═════════
Depreciation
At 1 April 2020	601,212	51,586	652,798
Charge for the year	31,786	531	32,317
	─────────	────────	─────────
At 31 March 2021	632,998	52,117	685,115
	═════════	════════	═════════
Carrying amount
At 31 March 2021	4,743	1,943	6,686
	═════════	════════	═════════
At 31 March 2020	36,529	2,474	39,003
	═════════	════════	═════════

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Garndiffaith Community Association

Notes to the Financial Statements (continued)

Year ended 31 March 2021

17. Debtors

		2021	2020
		£	£
	Prepayments and accrued income	420	906
		════	════
18.	Creditors: amounts falling due within one year
		2021	2020
		£	£
	Accruals and deferred income	1,602	8,067
	Social security and other taxes	462	174
	Pension creditor	29	46
		───────	───────
		2,093	8,287
		═══════	═══════

19. Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £180 (2020: £472).

20. Analysis of charitable funds

Unrestricted funds

					At
		At		31 March 202
	1	April 2020	Income	Expenditure	1
		£	£	£	£
General funds		11,403	67,956	(30,079)	49,280
Building refurbishment fund		9,498	–	–	9,498
		────────	────────	────────	────────
		20,901	67,956	(30,079)	58,778
		════════	════════	════════	════════
					At
		At			31 March 202
	1	April 2019	Income	Expenditure	0
		£	£	£	£
General funds		28,201	56,411	(73,209)	11,403
Building refurbishment fund		4,103	5,395	–	9,498
		────────	────────	────────	────────
		32,304	61,806	(73,209)	20,901
		════════	════════	════════	════════

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Garndiffaith Community Association

Notes to the Financial Statements (continued)

Year ended 31 March 2021

20. Analysis of charitable funds (continued)

Restricted funds

Restricted funds
				At
	At		31 March 202
	1 April 2020	Income	Expenditure	1
	£	£	£	£
Community Hall	34,720	–	(31,426)	3,294
Refurbishment of toilet facilities (Welsh
Government)	–	–	–	–
	────────	────	────────	───────
	34,720	–	(31,426)	3,294
	════════	════	════════	═══════
				At
	At			31 March 202
	1 April 2019	Income	Expenditure	0
	£	£	£	£
Community Hall	66,146	–	(31,426)	34,720
Refurbishment of toilet facilities (Welsh
Government)	–	22,910	(22,910)	–
	────────	────────	────────	────────
	66,146	22,910	(54,336)	34,720
	════════	════════	════════	════════
Analysis of net assets between funds
		Unrestricted	Restricted	Total Funds
		Funds	Funds	2021
		£	£	£
Tangible fixed assets		3,392	3,294	6,686
Current assets		57,479	–	57,479
Creditors less than 1 year		(2,093)	–	(2,093)
		────────	───────	────────
Net assets		58,778	3,294	62,072
		════════	═══════	════════
		Unrestricted	Restricted	Total Funds
		Funds	Funds	2020
		£	£	£
Tangible fixed assets		4,283	34,720	39,003
Current assets		24,905	–	24,905
Creditors less than 1 year		(8,287)	–	(8,287)
		────────	────────	────────
Net assets		20,901	34,720	55,621
		════════	════════	════════

21. Analysis of net assets between funds

- 14 -

Garndiffaith Community Association

Management Information

Year ended 31 March 2021

The following pages do not form part of the financial statements.

- 15 -

Garndiffaith Community Association

Detailed Statement of Financial Activities

Year ended 31 March 2021

Year ended 31 March 2021
	2021	2020
	£	£
Income and endowments
Donations and legacies
Donations	1,480	2,092
	───────	───────
Charitable activities
Big Lottery Fund	7,400	–
Torfaen County Borough Council	200	839
Welsh Government	–	22,910
Lloyds Bank Foundation	1,000	–
Wales & West Utilities	1,200	–
Torfaen Voluntary Alliance	699	–
ASDA	600	–
	────────	────────
	11,099	23,749
	────────	────────
Other trading activities
Bingo Bar	–	2,878
Bingo Takings	–	10,965
Events	63	22,742
Room Hire	485	9,761
Bric-A-Brac Sale Proceeds	884	2,600
Box 13	–	4,498
Sale of Memorial Bell books	–	5
Millennium Flyer	–	5,395
	───────	────────
	1,432	58,844
	───────	────────
Investment income
Bank interest receivable	5	31
	────	────
Other income
Torfaen County Borough Council Small Rates Relief Grant	45,000	–
HMRC Job Retention Scheme Grant	8,940	–
	────────	────
	53,940	–
	────────	────
	────────	────────
Total income	67,956	84,716
	════════	════════

- 16 -

Garndiffaith Community Association

Detailed Statement of Financial Activities (continued)

Year ended 31 March 2021

Year ended 31 March 2021
	2021	2020
	£	£
Expenditure
Expenditure on charitable activities
Purchases	585	21,429
Wages and salaries	16,501	21,244
Pension costs	180	472
Rates and water	193	531
Light and heat	2,837	10,253
Repairs and maintenance	2,356	32,977
Insurance	1,878	2,001
Other establishment	1,972	1,755
Other motor/travel costs	10	213
Legal and professional fees	2,237	1,967
Telephone	349	467
Other office costs	90	1,919
Depreciation	32,317	32,317
	────────	─────────
	61,505	127,545
	────────	─────────
	────────	─────────
Total expenditure	61,505	127,545
	════════	═════════
	────────	─────────
Net income/(expenditure)	6,451 ════════	(42,829) ═════════

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