Charity registration number 1043574 Company registration number 03009141 {England and Wales} CHEPSTOWAND DISTRICT MENCAP SOCIETY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 CHEPSTOWAND DISTRICT MENCAP SOCIETY CONTENTS Page Trustee's report Independenl examinerfs report statement of financial activities Balance sheet Statement of cash flows 10 Notes lo the financial stalemenls CHEPSTOWAND DISTRICT MENCAP SOCIETY TRUSTEE'S REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The Iru51ees present their annual report and financial statements for Ihe year ended 31 March 2024. The financial statemenls have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and compty with the charity's Memorandum and Articles of Association. the Companies Act 2006 and 'Accounling and Reporting by Charities-. Statèment of Recommended Practi￿ applicable lo charities preparing Iheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102} (effective 1 January 2019)" Objectives and activities The Royal Mencap Society (Mencap) is the leading voice of leaming disability. Everything we do at Chepstow Mencap is about valuing and supporting people wrth a learning disability, their families and carers. Our vision is a world where people with a leaming disabilty are valued equally, listened to and included. We want everyone to have the opportunity to achieve Ihe things they want out of life. Qur values include being people ￿nIred.. empowering. induding arKJ respecting all people; and being brave and developing new ideas. To achieve this, the charity. works in partnership with other organisations. service users and their parenls or carers provides and promote5 good practice offers a range of services from bolh professionals. dedicated staff and volunleers Organisation Honorary officers and Ihe other tiustee5 (up to 12) are elected annually at the Annual General Meeting. The board of trustees, who also act as directors. administers the charity through regular meetings. The day-to- day operation of the charity's commissioned Servi￿ is the ￿SponsIbl11ty of the Care SeTvices Business Manager, who supervises activities and staff. The Finance Manager oversees all aspects of budget conlrol and reporting. All policies relating lo staff and volunteers ale iegulady reviewed and updated. Chepstow Mencap is affiliated to The Royal Mencap Society. It also aims to work in co-operation and partnership with other organisalions having the same objectives. Related partie5 The key relationships with extemal organi5ations are with the Royal Mencap Society (Mencap). Monmouthshire County Councillmonmouthshire Local Heallh Board (MCCIMHB) and Gwent Association of Voluntary Organisation5 (GAVO). The affiliation with Mencap requires Ihat we cornply wilh their policies and procedures. MCCIMHB is our principal partner and relalions are govemed by the terms of our service contiact5 Wlth them. Public benefit We have referred to the guidance contained in the Charity Commissions. geneial guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular. the tiustee5 consider how planned aclivilies will contribute to Ihe aim5 and objectives they have set. Changes introduced in the year The day seNice in the year to 31 March 2024 was settled with new referrals lo the service. The Board school continues lo be hired out to communily groups and local residents_ CHEPSTOWAND DISTRICT MENCAP SOCIETY TRUSTEE'S REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Funding Our core funding continues with a contract wilh the local authority for day services and family aid. Other income is generaled by fundraising, running a pop-up café. charity shop sales. and hire of our premises. We are well supported in our communty and receive donations throughout the year. Support- during the year We continue to provide a blended day service and Family Aid support. Support is given on a group basis or 1..1 individual support. Activities take place in the community or al the Board School. The Board School- Head Office The Board School is the charity head office and the main hub for the charity's day service and social events. The refurbishment and renovation was funded by National lottery and olher capital grants. The building is hired out to the community Charity shop Our service users continue to work al our charity shop. which is localed in the heart ofthe communily. Milestones during the year An opportunity to participate in an oral histories project resulled in an exhibition which was held at the Board School. The exhibition included visual and audio aids to document and depict the 50 year history of Chepstow Mencap. The exhibition was well received and the history is now aithived. Achievements and perf0m￿nCe The main areas of charitable activity are.. The provision of care support services to people with learning disabilities through the provision of day and evening actiwlies and a support service at home and in the community. Provision of a social ne￿Ork with a variely ol social activities. A charity shop lo provide a community Presen￿ and retail training for seNice users. Fundraising and community profsle. Care support: Care support is provided on an individual or group basis. The Se￿iCe$ are co-ordinaled trom the head offi￿, The Board School, which provides a daily hub. Where facilities are available in the community. the venues are hired on a sessional basis. Independent living skills: Care support 15 provided to support adults living independently. including support with shopping. cooking, ¢ravel by public transport and money skills. Cookery is a popular thoice of activity with more men and young adults wanling to learn how to cook_ Travel by public transport Is important for future services and individuals are supported with travel and transport skills cn local transport routes to eventually access pu'blic transport independently. Shopping in the community provides choi￿. integration, money skills and independence in preparation for independent living. Old Board School kitchen and café area The training kitchen is designed to be accessible lo all. It has proved to be very popular with the people that we support, with cookery high on the list of enjoyable activities. It has also given the opportunity to open up for pop- up cafes, which are well attended. The PDP-up cafes give the opporlunity to welcome the community inlo Ihe Old Board School, as well as generating an incoTne. Our member5 prepare and serve refreshments and meet a variety of visitors Isorne of which have become regulars)- CHEPSTOWAND DISTRICT MENCAP SOCIETY TRUSTEE'S REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Work experience Charity shop.. Our charity shop provides 8 placements for work experience in retail. The shop is located in the community where 330h of our Service Users live. Working in the shop promotes confidénce and communication skills when offering customer service. Luncheon club: A lunch dub is provided for a pensioner group at a local community centre. This serwce has been running for several years and work placemenls are fully subscribed with placements offered on a rota basis. We have now added the placements in our own premises at the popup cafes. Gardening service". We offer a community garden setvice. Transition: Young adults 18-25, and new Service users are given the opportunty to join our projects in the community, such as our gardening services, luncheon club and work at our charity shop. We also offer services and opportunities at half lerms and holidays for young adulls who attend college. providing servi￿5 and opportunities in the community where they live. Complex needs: We support adulls with complex needs. The Spa￿ and facilitie5 at the Old Board School allow us to give support for complex needs. One of the reasons for refurbin9 our building was lo provide easier access on ground level to join all activities, and access to a spacious "Changing Place- facilrty for personal care_ All rooms and the outside Spaces can be accessed by wheelchair users or people with mobility needs. Social networks: Chepstow Mencap has a strong membership of families and carers. We have successful social events in Chepstow and districl. al local venues. The events provide a social ne￿ork, and everyone gets involved in th8 preparations. Events are usually sold out with support from community groups attending. Fund raising: Our local comrnunity supports us with our fundraising and. wilh donations and hard work, we are able lo provide the people we support with an enjoyable social life and equipment and resources. Thanks to our staff, friends and volunteers who give up their lime and fundraise for us to make this possible_ Partnership and communty: Community groups are invrted lo share our aclivities and facilities. Sharing of resources reduces costs, develops friendships, provides integralion and provides opportunrties. This integration and support was the driving force in finding premises suitable for our needs in Chepstow. To progress the charity Our stralegiG 5 year plan Vision We believe that people with a learning disability should be valued equally, listened to and included in their community To maintain our presence in the community and remain visible To continue to provide services for people with a learning disability lo lead fulfilled lives Expand our exisling provision and create new services Overcome barriers. To provide support and choice for young Service Users in transition (18-25 years old), to provide work experience, independent living skills, training. integralion in the community, and facililale social nelwotking CHEPSTOW AND DISTRICT MENCAP SOCIETY TRUSTEE'S REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 To providè social ne￿OrkS, developing and supporting friendships for adums with learning disabilities in their comrnunities where they live To provide social neljvorks and support families and caiers of adults wrth learning disabilities Provide wellbeing for adults with learning disabilities Raise community awarenes5 Provide employment skills and opporlunities Volunleers and Work Placements. To provide work experience, in a supporl role in a care environment. Providing new opportunities through the expansion of existing, and creation of new services Charity To remain a charty with the same principles at heart when Chepslow Mencap was first formed. To give the people thal we support, access to a rewarding way of life. We are a value driven charity, which provides the best care possible for the people that we support and Iheir families. Financial review The charity made an overall surplus for Ihe year of £51,697 which was unrestricted. Successful capital grant applications were received during the year. Principal funding source The major sources of fur)ds dunng the year are as follows= Day care contract with Monmoulhshire Cour)ty Council - £305.195 Family Aid contract with Monmouthshire County Council- £93,893 Other local authorities and private engagements - £26,701 Donations from individuals and volunteer fundraising - £10,012 Grants- £15,230 Investment policy At present there is no plan lo accumulate funds other than short te￿7 disbursemenl on charilable activities and the maintenance of prudenl reserves. All reserve funds are held in deposit accounts. There is no intention to change the policy with respect to this, beyond reviewing coinpelitive interest rates on like accounts. Reserves policy and risk management Reserves are held for both contingencies and opportunities and to miligate against any factors identified in the organisation's risk assessment. The level of reserves held will ensure that the charity and its trustees are protected, cornmitmenls can be met for the next 6 months. and the organisation can operate innovativdy in a changing environment. Trustees Gonsider this figure to be around £170,OQO. The trustees have a150 reGognised the need lo mainlain Ihe prtjperty to a good standard, in order for the facilitie3 lo be used by the public and have therefore designaled fvnds to cover these cosls for the next 10 years. Trustees consider this figure lo be around £170.000. The trustees have designated funds to purchase Iwo minibuses in order to carry out activities in line with ils aims and objects. Trustees consider this figure to be around £70.000. The charity's free ￿serVeS, exduding restricted funds. designated funds and fixed assels are £656,953. The main risk lo the continuation of the serVI￿S run by the charity would be the loss of contracts Irom MCCIMHB and delay in the contractual payments. To minimise this risk. extreme care is taken by the management to ensure compliance wilh the terms of the contracts held. Taxation As a registered charity, Chep51ow and District Mencap Society is entitled to the exemption from taxation in respect of income and capital gains received wrth sections 478489 of the Corporation Tax Act 2010 and seclion 256 of the Taxation of Chargeable Gain5 Act 1992 to the exient that these are applied to its charitable objects purposes only. CHEPSTOW AND DISTRICT MENCAP SOCIETY TRUSTEE'S REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Plans for future periods Chepstow Mencap collaborates with Monmouthshire County Council to review the provision of contracted services. Support is person centred and cornmunity based. Structure, governance and management Constitution Chepstow and District Mencap Solaety is a company limited by guarantee and a registered charity governed by its Memorandum and Articles of Association. The company follow5 the model Memorandum and Articles of Association for affiliated groups as laid down by the Royal Mencap Society. Charity number= 1043574. Company number.. 03009141. The organisation is 2 charitable company registered as a charity on 7 March 1972 as an Associate Member of the Royal Mencap Society- It was incorporated as a company limited by guarantee on 12 January 1995. The company was established according to a model provKled by Royal Mencap under a Memorandum of Association which established the objects and powers ol the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required lo contribute an amount not exceeding £1. Recrulthient and appolntment of management committee The direclors of the company, who are also charity trustees for the purposes of charity law and under the company's articles, are known as members of ihe Executs-ve Committee and are elected lo serve for a period of one year. They must be rè-elected at the next Annual General Meeting. CHEPSTOW AND DISTRICT MENCAP SOCIETY TRUSTEE'S REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 REFERENCE AND ADMINISTRATIVE INFORMAlloN Name Chepstow and District Mencap Society (knmited by Guarantee) Known as Chepstow Mencap Regist•r•d company number 03009141 Registered charity number 1043574 Trusts•s The directors of the charitable cory)8ny (Yhe chariw) are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees. Trustees are elected al the Annual General Meeting when nominations are considered and voted upon. Every full member of Chepstow MenGap can vole al Ihe Annual General Meeting. The trustees who served duriTrJ the year were as fcAIow5". S Nisholson RP Gleed A Narduzzo R Pe￿ett L Sidhu A Heming G Madley M Davies (Chair) (Honorary SeGretsry) (Vice Chair) Appointed 20 Nov 2023 Resigned 20 Nov 2023 Reslgned 20 Nov 2023 Service Manager Michele Blinman Registered and principal office The Board School, Bridge Street, Chepstow. Monmoulhshlre, NP16 5EZ Auditors Azels Audit Services. Ty Derw. Lime Tree Court. Cardiff Gate Business Park, Cardiff CF23 8AB Bankers HSBC Bank PLC, 12 Beaufort Square, Chepstow. Monmouthshire. NP16 5XH Nationwide Building Society Monmouthshire Building Society Savings Account Koy Managemènt Porsonnol The key management personnel of the charity dUriT￿ the year were the Trustees. the SeThiice Manager. the Deputy Man89er and the Finar￿e Manager. Trustees are 401 remunerated. The pay of the key management peTsonnel is benGhmarked to the salary rates of similar organisations in Ihe area. The trustee's report was approved by the Board of Trustees. Ms S Nlcholson Trustee CHEPSTOWAND DISTRICT MENCAP SOCIETY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHEPSTOWAND DISTRICT MENCAP SOCIETY I report to the trustees on my examination of the financial sL*ements of Chepstow and District Mencap Society (the charity) for the year ended 31 Marth 2024. Responsibilities and basis of report As the trustees of the charty (and also its directors for the purposes of company law) you are responsible for the preparation of the fjnancial staiements in accordance with Ihe requirements of the Companies Act 2006 Ithe 2006 Act). Having satisfied myseir that the financial statements of the charity are not required lo be audited under Part 16 of the 2006 Act and are eligible foi independent examination. I report in respect of my examination of the Gharity's financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all Ihe applicable Directions given by Ihe Charity Commission under section 145{5)(b} of the 2011 Act. Independent examinerfs statement Since the charity's gross income exceeded £250.tKIO your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of Instilute of Chartered AGcountants in England and Wales. which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my altention in connection with the examination giving me cause to believe that in any material respect- accounting records were not kept in respect of the charity as required by seclion 386 of the 2006 Act; or Ihe finan￿al statements do not accord with those recofds- or the financial statements do nol comply with Ihe accounting requirements of seclion 396 of the 2006 Act other than any requirement that Ihe accounts give a true ar￿ fair view which is not a matter considered as part of an independent examination- or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Slandard appliGable in the UK and Republic of Ireland (FRS 102}- I have no conoms and have Ixxne across rK) olher matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the ffinancial ststement51o be reached. Andrew Howell$ Azets Audit Services Ty Dew, Lime Tree Court Cardiff Gate Business Park Cardiff CF23 8AB United Kingdom 17 D&cember 2024 N.M .s Dated: CHEPSTOWAND DISTRICT MENCAP SOCIETY STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Notes Income from: Donations, legacies and grants Charilable activities Other trading activities Investments 12,590 436,175 12.652 25,242 436.175 59,243 414,093 5,625 64,868 414,093 22,923 11.220 22.923 11.220 23,147 3.522 23,147 3,522 Total income 482.9t18 12,652 495.560 500,005 5,625 505.630 enditure on: Raising funds 5,102 5.102 6.312 6,312 Charitable activities 426.109 36.798 4￿2.907 397.580 29,411 426,991 Total expenditure 431.211 36.798 468.009 403.892 29,411 433,303 Net incomel(expenditure) for the yearl Net movement in funds 51,697 {24,146) 27.551 96,113 {23,786) 72,327 Fund balances at 1 April 2023 1.128.713 876.560 2.005.273 1.032,600 900,346 1.932,946 Fund balances at 31 March 2024 1.180.410 852,414 2.032,824 1.128.713 876,560 2,005,273 The slalement of financial activities indude5 all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. CHEPSTOWAND DISTRICT MENCAP SOCIETY BALANCE SHEET AS AT31 MARCH 2024 2024 2023 Notes Fixed assets Tangible assets 13 1,374.696 1,424,086 Current assets Stock5 Debtor5 Cash at bank and in hand 14 15 525 28.715 670.028 525 15,616 614.506 699.268 830.847 Creditors: amounls falling due within one yoar 16 (41.140) {49.460} Net current assets 658.128 581,187 Total assets less current Ilabilltles 2,032.824 2,005.273 Income tunds Restricted funds str Designated funds General unreslrTcled funds 17 852,414 876.560 410.000 770.410 355,000 773,713 1.180.410 1,128.713 2.032.824 2.005.273 The company Is enlitled to the exemption from the audit requirement Ixjntained in 5eGtK)TJ 477 of the Companies Act 2006, for the year ended 31 March 2024. The direclors acknowledge their responsibilities kn complying with the requirements of the Companies Acl 2006 with respect to accounting records and the preparalon of financial ststements. The Members have not required the company lo vbtsin an audit of its financk81 statements for the year in question in accordance with section 476. The58 financial statements have been prepared in accordan￿ with the provisions appI￿able to Companies subject to the small companie8 regime. Th8 financial stslements were approved by the Trustees on ....... Ms S Nicholson Trn$teè Company registration numbèr 03009141 CHEPSTOWAND DISTRICT MENCAP SOCIETY STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operating acttvities Cash 9eneraled from operations 22 46.980 124,173 Investing activities Purchase of tangible fixed assets Inveslment income received (2.678) 11.220 (5,496) 3,522 Net cash generated froml(used in) investing activities 8,542 {1 ,974} Net cash used in financin9 activities Net increase in cash and cash equivalents 55,522 122,199 Cash and cash equivalents at beginning of year 614,506 492,307 Cash and Cash equivalents at end of year 670,028 614,506 10- CHEPSTOWAND DISTRICT MENCAP SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charity infonnation Chepstow and District Mencap Society is a private company limited by guarantee incorporated in England and Wales. The registered office is Chepstow Mencap Ltd, The Board School, Bridge Street. Chepstow, Gwent, NP16 5EZ. Unrted Kingdom. 1.1 Accounting convention The financial slalements have been prepared in accordan￿ with the charity's governing document, the Companies Act 2006. FRS 102 'The Financial Reporting Slandard applicable in Ihe UK and Republic of Ireland. ("FRS 102°) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019}. The charity is a Public Benefil Entty as defined by FRS 102. The financial statements are prepared in sterling. which is the functional currency of the charity- Monetary amounts in these financial statements are Tounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policie5 adopted are Set out below. 1.2 Golng concern The charity reported an unrestn.cted net inflow of £51.697 for the year_ At Ihe time of approving the financial statements. the trustees have a reasonable expectation that the tharity has adequate resources to continue in operation21 existence for the foreseeable fLrture. Thus the trustees continue to adopt the going concem basis of accounting in preparing the financial statements. 1.3 Charitsble funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Reslricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are sel out in the notes to the financial statements. 1.4 Incoming resources Income is recognised when the charity is legally entitled to it after any performance conditions have been mel, the amounts can be measured reliably. and it is probable that income will be re￿Ived. Income is derived from donations, ftjnd raising activiiies. investment in(a)me. grants and the provision of care services. Voluntary income suth as donations etc. represents amounts received and recorded at offices during the year. The charity is able to make claims for income tax refunds in the Gase of grft aid donations. All taxation received has been included. Grants comprise amounts receivable during the year. Fundraising income is recognised on receipl. Income from investments is induded in the year in which it is receivable. 11 CHEPSTOW AND DISTRICT MENCAP SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) 1.5 Resources expended Expenditure Resources expended are included in the Statement of Financial Actiwtie5 on an accnjals basis inclusive of any VAT, which cannot be recovered. Expendilure is recognised once there is a legal or conslructive obligation to make a payment to a third paty, it is probable that settlemenl will be required and the amount of the obligation car) be measured reliably. Certain expenditure is directty attributable lo specific activities and has been included in Ihose cost categories. Certain other costs, which are attributable to more than one aclivity, are apportioned across cost cale9ories on the basis of income received for Ihose activities. The management team considers this lo be the most equitable method of splitting expenditure attributable to more than one activity. The management team considers that al of the resources expended are directly attributable to activities. Fundraising expenditure This expenditure comprises costs incurred in inducing people or organisalions to contribute financially to the charity'5 work. This includes the cost of advertising for funds and the cost of mounting appeals and staging special evenls in addition to a proportion of overheads and property expenses. Direct charitable expenditure This includes all costs relating to the furtherance of the charity's objectives. Governance costs These costs include the costs of governance arrangemenls, which relate to the general running of the Charity as opposed to the direct management functions inherent in generating funds. service delivery and programme of project work. These include such items as extemal audil, legal advice for Iruslees and costs associaled with conslitulional and slatutory requirements. Netting off of income and expenditure Income and expenditure are stated gross. 1.6 Tangible fixed assets Tangible fixed as5e15 are initially measured at cost and subsequently measured at cosl or valualion, nel of depreGiation and any impairment losses. Depreciation is recognised so as lo write off the cost or valualion of assets less their residual values over their uselul lives on the following bases". Freehold land and buildings Leasehold improvements Fixtures and fittings Computers Motor vehicles 50 years - Straighl line basis 4 years- Straight line basis 10 years - Stiaight line basis 4 years- Straight line basis 4 years - Straight line basis 1.7 stocks Slocks are stated at the lower of cost and net realisable value. 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand: deposits held al call wlh banks, other short-lerm liquid investments wilh original maturities of three months or less. and bank overdrafts. Bank overdrafls are shown within borrowings in C￿￿ent liabilities. 12- CHEPSTOWAND DISTRICT MENCAP SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) 1.9 Finan¢lal Instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instrumenls, and Section 12 'Other Financial Instruments155ue5' of FRS 102 to all of its financial instnjments. Financial instruments are recognised in the charivs balan￿ sheet when the charrty becomes party lo the contractual provisions of the instfument. Financial assets and liabililies are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention lo settle on a nel basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets. which include deblots and cash and bank balances, are initially measured al transaction price including transaction cosls and are subsequently carried al amortised cost using the effective interest melhod unless the arrangement constitutes a financing transaction, where the transaction is measured at Ihe present value of the future receipts discounted at a markel rate of inleresl. Financial assets classified as receivable within one year are rM)t amortised. Derecognition of financial assets Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are Settled: or when the charity transfers Ihe financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in tts entirety to an unrelated third paty. Basic financial liabilities Basic financial liabilities. induding credTrtOTS and bank loans are initially Tecognised at transaction price unles5 the arrangement constitutes a financing transaction. where the debt instrumenl is measured al the present value of the future payments discounted at a market rale of inleresl. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequentty carried at amortised cost. using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as cutrent liabilities if payment is due within one year or less. If nol. they are presented as non-current liabilities. Trade creditors are recognised initially at Iransaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of linancial liabilities Financial liabililies are deieujgnised when the charity's o)ntrartual obligalions expire or are discharged or cancelled. 1.10 Employee benefits The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required lo be recognised as part of ihe cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee's seN1￿$ are received. Temiinalion benefrts are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee 01 to provide terfflination beneffts. 13- CHEPSTOWAND DISTRICT MENCAP SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies ICorrtinued} 1.11 Retirement benefits The charity operates a defined contribution scheme for the benefit of its employees. The assets of Ihe scheme are held separatety from those of the charity. Conlribulions payable are charged to the profil and loss account in the year they are payable and are charged against unrestricted funds. 1.12 Leases Rentals payable under operating leases, including any lease incenlives received. are charged as an expense on a straight line basis over the term of the relevant lease. Critical accounting estimates and judgements In the application of the charty's accounting policies. the truslees are required to make judgements, estimates and assumptions about the carrying amounl of assets and liabilities that are not readily apparent from other sources. The eslimales and associated assumptions are based on historical experience and other factors Ihal are considered to be felevant. Actual results may differ from these estlmates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affect5 only that period, or in the period of the revision and future petiods where the revision affects both current and future periods_ 14- CHEPSTOW AND DISTRICT MENCAP SOCIErY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Donavons. legacles and grants Unr•strt¢t8d R¥stri¢tsd funds fund$ 2024 2024 Unrestricted R•sirict• funds funds 2023 2023 Total 2924 2023 DOnat￿nS and grf15 Grants 9.656 2.934 9.656 15.586 7,736 51,$07 7.736 57.132 12.652 5,625 12.590 12.652 25.242 59,243 5.625 64.868 CHEPSTOWAND DISTRICT MENCAP SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charitable activities Unrestricted funds 2024 Unrestricted funds 2023 Monmouth County Council - Family Aid Scheme Monmouth County Council- Day Care Contract ILF Services Pop up cafe and other charitable activilies 93.893 89.422 305,195 26.701 290,662 22,811 10.386 11,198 436.175 414,093 Other trading activitiès Unrestricted Unrestricted funds funds 2024 2023 Subscriptions Shop income Hire Income 83 16,002 6,838 108 13580 Olher trading actiwties 22,923 23,147 Investments Unrestricted Unrestricted funds funds 2024 2023 Interest receivable 11.220 3,522 16- CHEPSTOW AND DISTRICT MENCAP SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Raising funds Unrestricted Unrestricted funds funds 2024 2023 Tradin costs Operating charity shops 5,102 6,312 5,102 6,312 Charitsble activitie5 Other Local authority activities contracts Total 2024 Totsl 2023 Staff costs Depreciation and impairmenl Minibus travel and subsistance Premises Direct costs Legal & professional 7.447 50,710 107 6.093 22.052 260 252.518 1.358 4,565 29,301 9,600 2.196 259,965 52.068 4.672 35,394 31,652 2,456 236,973 51,833 5,127 22,727 34,935 2,016 86.669 299,538 386,207 353.611 Share of support costs {see note 9) Share of governance costs (see note 9) 8.209 1.480 64,051 2,960 72.260 4.440 63,600 9.780 96,358 366,549 482,907 426,991 Analysis by fund Unrestricted funds Restricted funds 59.560 36,798 366.549 426,109 36.798 96,358 366,549 462,907 For the year ended 31 March 2023 Unrestricted funds Restricted funds 120.481 29,411 277,099 397,580 29,411 149,892 277,099 426,991 17- CHEPSTOW AND DISTRICT MENCAP SOCIETY NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Support to$t$ Support Governance C0515 costs 2024 Support Govgrnance ¢osts 2023 8a$l$ of allo¢atlon stay costs OffKe e*pen$e$ 57,732 14,528 57.132 14.528 5Q,G95 13.505 Dire 13.5D5 Independeni Examination fees Audrt & a¢couMan¢y 4.440 GovemaThce 9,780 GOve￿anCe 72.260 4.440 76.7LKI 63.600 Analysed bel¥Yeen Charflable aclivitie$ 72,260 76.700 63.600 TJ,380 Governan￿ c051s Indudes payrnenlsto1he auditor5 of £4.440 for indepwjderyt exarr..rwtim feps12023 É9,780 for wdrf fees.) CHEPSTOWAND DISTRICT MENCAP SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 10 Trustses No emoluments were paid to the trustees during the year. {2023-. £nil) During the year. no trustees were reimbursed for costs incurred on behalf of the charity (2023.. £nil> and no trustees were reimbursed for travel expenses (2023: £202). 11 Employees The average monlhly number of employees during the year was= 2024 Number 2023 Number Full time staff Part lime staff 14 Total 20 20 Employment Costs 2024 2023 Wages and salaries Social security costs Other pension costs 296,051 16,036 5,610 268,613 14,047 4,408 317,697 287,068 Mana ement Personnel The total emoluments and beneffts (including salary. employers, national insurance, pension and benefits in kind) received by the three key management personnel during the year (2023: 3) were £99,663 {2023= £92,319). There were no employees whose annual remuneration was more than £60,000. 12 Taxation The Gharity is exempt from lax on income and gains falling within seclion 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the &(ent ihat ihese are applied to its charitable objects. 19- CHEPSTOW AND DISTRICT MENCAP SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Tanglble flx•d assèts P￿￿h￿Id l*rtd L•as•hold Fixtures and •Trid hmprDvtrnents omputEr¥ TDtsI Cost Al 1 Ap-,-.12023 Additions 1.392.510 13 205 207,552 2.094 31.324 35.400 1.679,991 2,678 Al 31 March 2024 1.392.510 13.789 209.646 31.324 35.400 1.682,669 Depreoladon and Impalrm*nt Al 1 April 2023 DepreGwlioTr charged in the year 121.077 27.850 13.060 27,102 3.150 35.400 255,905 52,068 20.936 Al 31 Mafch 2024 148,927 13.192 60.202 30.252 35.400 307,973 Carrylng *mount Al 31 14laich 2024 1.243 583 597 129.444 1.072 1.374,698 Al 31 Marh 2023 1 ?71.433 145 148.286 4222 1,4?4 086 -20- CHEPSTOWAND DISTRICT MENCAP SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 14 Stocks 2024 2023 Raw materials and consumables 525 525 15 Debtors 2024 2023 Amounts falling due within ono year. Trade debtors Other debtors Prepayments and accrued income 25,019 8,773 4,123 2,720 3,696 28.715 15,616 16 Creditors: amounts falling due within one year 2024 2023 Other taxation and social secur Trade creditors Other creditors Accruals and deferred income 3,663 2,786 23,083 11,608 9,012 3,024 22,495 14.929 41,140 49,460 21 CHEPSTOW AND DISTRICT MENCAP SOCIETY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Restricted funds The Inu>mB fund5 of the tharity IndudE restrvAe