REGISTERED CHARITY NUMBER: 1047314 REPORT OF THE TRUSTEES AIYD UNAUDITED FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR THE ABBEY ROAD CENTRE Canolfan Abbey Road Illiomsdenlo ACCOIJNTANTS & TAX AL)VISQRS
THE ABBEY ROAD CENTRE CONTENfs OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Psige Report of the Trnstees Independent ExAmiDer's Report Statsment of FiTr&ncial Activities Balance Sheet Notes to the Financial Slatements to 14
THE ABBEY ROAD CENfRE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their report with ihe financial staternents of the charity for the year ended 31 March 2024. The truste¢5 have adopted ihe provisions of Accounting and Rewrting by Charitie5: Statement of Recommended Practice applicable to charities preparing th¢ir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims To improve the mental health of those experiencing problen75. This could include depression. anxiety, thg and alcohol abuse and other social problem5. To improve and modify the public's attitude to such problems, thus enabling supportive approaches to assist the s¢rvir¢ users to engage. We work with other agencies, both directly and indirectly, who are involved and active in the fi¢ld. The planning and monitoring of cuent and future Seic¢S is sensitive to input from service users as well &8 carers and the voluntary sector, Plans for the future will be in accordance with the guidelines of the Charity Commission. Public ben¢fit The INstees confirn) that they have refeed to the guidance contained in the Chartty Commission's genernl guidance on public benefit when reviewing the charity's aims and objectives and in platming thture activitie5. ACHIEVEMENT AND PERFORMANCE Charitable activities - How our activities deliver public benefit The Centre has Continued to work towards raising and maintaining our mental health and well bein& reducing stigma and displaying good prnctice thmughout its Work. The service continues to raise awareness of mental health issues through partnership work with the Statutory and 3rd Sector Agencies. The Drop In continues to support the mental health and well being of it's community, welcoming new members and initiating new pnjjects. FINAIYCIAL REVIEW Financial position Overall there was a deficit this year of £569 compared with a deficit of £14.835 in 2022r23. leaving total reserves at 31 March 2024 of £86,213 (£86,113 unrestricled and £100 restricted). Reserves policy and going concern The level of the Reserves will be reviewed by the Board and that unless otherwise agreed. the organisation will strive. in line with good practice, to maintsTrn a minimum reserve equivalent to at least current three months running costs of the organisation, which are currently achieved, and endeavour to make good and maintairl the equivalent of six months running costs. The charitable company's survival is largely dependent on thnding from local authorities. local heahh board5 and government agencies. Although there was an overall small defJ¢it in the year, which was anticipated, there was a surplus in the unreslricted reserves which have improved these reserves. Ther¢for¢ the trustees still consider it appropriate to prepare the financial statements on a going concern basis a5 there are sufficient reserves to carry forward. Pagc I
THE ABBEY ROAD CENTRE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document & Charity constitution The ¢har&ty converted from a Company Limited by Guardntee to a Charltable Incorporated Or8ani$ation (CIO) on 30 November 2023 &s amended on I l December 2023. The constitution adopted on o)nversion wa5 based on the Charity Commission model (Foundation constitution v2 and objects v2). Membershi of the CIO (l ) The members of the CIO shall be ils charity trustees for the time being. The only persons eligible to be rnembers of the CIO are its charity trustees. Membership of the CIO cannot be transferred to anyone else. (2) Any member and charity trustee who ctases to be a charity trnstee automatically ceases to be a member of the CIO. Recruitment and appointment of new trustees The charity trustees shall manage the affairs of the CIO and may for thai purpose exercise all the powers of the CIO. for trusteeshi (a) Every charity trust¢¢ must be a natural per50n. (b) No individual may be appointed as a Charity trustee of the CIO: if he or she is under the age of16 years. or if he or she would automatically cease to hold office under the provisions of clause [12(1)(e)]. (c) No one is entitled to act as a charity trnstee whether on appointment or on any re-appointment until he or she h&s expressly acknowledged, in whatever way the charity trustees decide, his or her acceptance of the office of charity trustee. (d) At least one of the trustees of the CIO must be 18 years of age or over. If there is no trustee aged at least 18 yeaTS, the remaining trustees may only act to call a meeting of the charity trustee5, or appoint a charity trustee. new Number of ¢haril trustees (a) There should be not less than one nor more than two nominated trustees. (b) Thw¢ must be at least three charity Irustees. If the number falls below this minimum. the ttmaining tnee or trustees may act only io call a meeting of the charity trnstees, or appoint a new charity ttustee. {¢) The maximum number of charity trustees that can be appointed is as provided in sub-clause (a) of this clause. No trustee appointment may be Tnade in exccss of these provisions. inted chari . tte£S {a) Apart from the first charity trustees. every appointed truste¢ must be appointed for a frrni of thTee yeaTS by a resolution passed at a properly convened meeting of the charity ttee5. (b) In selecting individuals for appointment as appointed charity trustees. the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO. Nominated Trustee (a) Gwedd Council (the appointing body) may appoint QT]¢ charity trustee. {b} Any apwjintment must be made at a meeting held according to the ordinary practice of the appointing body. (¢) Each appoinlment must be for a tern) of three years. (d) The appoinlment will be effective from the later of,. (i) the date of the va¢an¢y' and (li) the date on which the charity trustees or their secretsry or clerk are infornied of the appoinlment. (e) The person appointed need not be a member of the apwinting body. Page 2
THE ABBEY ROAD CENTRE REPORT OF THE TRUSTEES FOR THE YLAR ENDED 31 MARCH 2024 (fj A trustee appointed by the appointing body has the same duty under clause 9(1) as the other charity trustees to act in the way he or she decides in good faith would be most likely to further the puryoses of the CIO. Infomiation for new charit trustees The charity trustees will make available to each new charity trustee, on or before his or her fjrst appointhient., {a) a copy of the current version of this constitution- and (b) a copy of the CIO'S latest Trustees. Annual Report and ststement of accounts. REFERENCE AND ADMINISTIL4TIVE DETAILS Registered Chgrity number 1047314 PriThcipal address 5-9 Abbey Road Bangor Gwynedd LL57 2EA Trustees Ms G V Martin (Tesigned 6.6.23) J M Martin L J Jones J W Jones (Chair) Dr L Miles (resigned 27.11.23) Cllr C E Wager Cllr P J Rowlinson A Griftiths Independent Examiner Williams Denton Cyf Chartered Certified Accountants Glaslyn Ffordd y Par Parc Menai Bangor Gwynedd LL57 4FE Stntor Management Ms F W Owens- Chief Officer Page 3
THE ABBEY ROAD CENfRE REPORT OF THE TRUSTEES FOR THE YEAR E]YDED 31 MARCH 2024 STATEMENf OF TRUSTEES, RESPONSIBILITIES The trustees are responsible for preparing the Report of the Trustees and the financial statements in a¢cordan¢¢ with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted AccountiT]g Praclice). The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Rewrts) Regulations 2008 and the provisions of the trust deed requires the trnstees to prepare financial statements for each financial year which give a te and fair view of the state of affairs of the charity and of the incoming resourc¢s and application of resource& including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to select suitable cOunting policies and then apply them consistently. observe the methods and principles in the Charity SORP. make judgements aTJd estTmates that are reasonable and prudent; prepare the financial statements on th¢ going concern b&8is unless it is inappropriate to presume that the charity will continue in business. The tNstees are responsible for keeping proper accounting records which disclose with ttasonable accuracy at any time the fmancial position of the charity and to enable them to ensure that the financial statements comply with the Charities A¢t 2011. the Charity (Accounts and Reports) Regulation5 2008 and the provisions of the trnst deed. They are also r¢sponsible for safeguarding the assets of the charity and hence for tsking re&sonable steps for the prevention and detection of frdud and other Iegular1tIcs. Approved by o er of the board of trustees on .... .. 16L . and signed on its behalf by: J W Jones (Chair) - Trustee Page 4
INDEPENDEiYf EXAMINER'S REPORT TO THE TRUSTEES OF THE ABBEY ROAD CENTRE Independent examiner's report to the trustees of The Abbey Road Centre I report to the charity trustees on my examination of the accounts of The Abbey Road Centre (the TNSI) for the year ended 31 March 2024. Responsibilities and basis of report As the charity trustees of the Trust you are responsible for the preparation of th¢ accounts in accordance with the requirements of the Charities A¢t 2011 ('the Act,). I report in respect of my examination of the Trnst's accounts carried out under Section 145 of the Act and in carying out my examination I hav¢ followed all applicable Dir¢Gtions given by the Charity Commission under Section 145(5)(b) of the Act. Independent examiner's staten)ent have completed my examination. I confinn that no material matters havc cotn¢ to my attention in connection with the examination giving me cause to believe that in any rnaterial respect: accounting records were not kept in respert of the Trust as required by Section 130 of th¢ Act. or the accounts do not accord with those Tecords. or Ihe accounts do not comply with the applicable requirements concerning the fonn and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirnent that the accounts give a trne and fair view which is not a tnatter considered as part of an independent examination. I have no concerns and have come across no other matters in connection wlth the examination to which attention should be drawn in this report in ord¢r to enable a proper understanding of the accounts to be reached. Colin Bell FCCA The Association of Chartered Certified Accountsnts Williams Denton Cyf Chartered Certified A¢¢ounlants Glaslyn Ffordd y Pa Parc Menai Bangor Gwynedd LL57 4FE Page 5
THE ABBEY ROAD CENTR STATEME OF FINANCIAL AcrtVlTIES FOR THE YEAR ENDED 31 MARCH 2024 2024 Total funds 2023 Total funds Unrestricted fund Restricted fund Notes INCOME AND ENDOWMENfs FROM Donations and legacies 5P99 3.739 ChAritable activities Mental Health Support Services 141,799 3,000 144,799 134.193 Other trading activities Investment inwme 32J07 1,049 32,307 1,049 25,187 189 Total 181,154 3,000 184,154 163,308 EXPENDITURE ON Charit*ble gdctivities Mental Health Support Services 184 723 178 143 NET INCOMEI(EXPENDITURE) 9,689 (10258) (569) (14,835) RECONCILIATION OF FUNDS Total fiinds brought forward 76.424 10,358 86,782 101,617 TOTAL FUNDS CARRIED FORWARD loo 86 The notes forni part of these financial statements Page 6
THE ABBEY ROAD CENTRE BALANCE SHEET 31 MARCH 2024 2024 Total funds 2023 Total funds Unrestricted fijnd Restricted fund Notes FIXED ASSETS Tangible assels 513 513 1,928 CURRENT ASSETS Stocks Debtors Cash at bank 150 12.651 89.982 150 12,651 90.082 175 6,026 97.442 loo 102,783 loo 102,883 103,643 CREDITORS Amounts falling due within one year io (17,183) (17,183) (18,789) NET CURRENf ASSETS loo 84,854 TOTAL ASSETS LESS CURRENT LIABILITIES 86.113 loo 86313 86.782 NET ASSETS loo 86 86.782 FUNDS Unrestricted fiinds Restricted funds 13 86,113 loo 76,424 10.358 TOTAL FUNDS 86 86,782 The financial statements were approved by the Board of Trustees and authorised for issue on and were signed on its behalf by: Jwjone Chalr) - Trustee artin - Trustee The notes fomi part of these fAnancial statem¢nls Page 7
THE ABBEY ROAD CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statemenls of the charity, which 15 a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of R¢¢ommended PractiGe applicable tr) charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republi¢ of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. The charitable company's survival is largely dependent on funding from local authorities, local health boards and government agencies.The trustees consider tt apppriate to prepare the financial statements on a going concern basis. IDcome All income is recognised in the Statement of Financial Adivvties once the charity has entitlement to the funds. it is probable that the iT)come will be received and the amount Gan be measured reliably. Government grants Grants which relate to revenue are recognised as income in the period the related costs for which the grant is intended to compensate are in¢urred. Expenditure Liabilities are recognised as expenditure as soon as there is & legal or constructive obligation committing the charity to that ¢xpenditure, it is probable that a transfrr of ¢conomi¢ ben¢fits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classifjed under headings that aggregate all wst related to the ¢ategory. 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 fixed assets Depr¢¢iation is provided at the following annual rates in order to write off each asset oveT its estimated useful life. Freehold propety Plant and machinery Computer equipment Titten off in year of acquisition 25 % on cost 25Yo on ())st Tangible fixed assets for use by the charity are stsled at cost or valuation or in cases where fixed assets have been donated at valuation at the time of acquisition, less depreciation. The cost of minor additions or those costing less than £500 are not capitalised. Stocks Stocks are va]ueAI at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Taxation The charity is exempt from COTPOTation t&x on its charitsble activities. Fund aeeountlng Unrestricted Funds Unre5triGted funds can be used in accordance with the charitable objectives at the discr¢tioTJ of th¢ trustees. Designated thnds are fund5 set aside by the trustees out of unrestricted funds for specific future purp)ses or projects. Page 8 continued...
THE ABBEY ROAD CENTRE NOTES TO THE FINANCIAL STATEMELYfs - continued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES - contiDued Fund accounting Restriet¢d Funds Restricted funds can only be used for particular restriGted purposes within the objects of ibe charity- Restrictions arlse when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ikasing commitment5 Operaling leases and payments made under them are included in the Statement of Financial Aclivities on a straight line basis over the lease tenn. Pension eosts and oth¢r post-retirement benefits The charity operates a defined contribution pension scheme. Contribution5 payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. OTHER TRADING ACTIVITIES 2024 2023 Contributions from user groups 32,307 25.187 IP4VESTMENT INCOME 2024 2023 Deposit account interest 189 INCOME FROM CHAIUTABLE ACTIVITFES 2024 2023 Activity Mental Health Support Services Grants and wntracts 134 193 Grants received. included in the above. are as follows: 2024 2023 Gwynedd County Council Betsi Cadwaladr University Health Board Bangor University Graduate Support Placement Mantell Gwynedd 41,756 101,043 36,220 97,289 684 2,000 144,799 134 193 Page 9 continued...
THE ABBEY ROAD CENTRE NOTES TO THE FINAIYCIAL STATEMENTS - eontinued FOR THE YEAR ENDED 31 MARCH 2024 TRUSTEES, REMUIYERATION AND BEIYEFITS There were no tNstees' remuneration or other benefits for the year ended 31 Maroh 2024 nor for the year ended 31 March 2023. Trustees, expenses There were no tru5tees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. COMPARATIVES FOR THE sfATEMENT OF FINANCIAL ACTlVtTJES Unrestrithed fund Restricted fund Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 3,739 3,739 Charitable activities Mental Health Support Services 131,193 3,000 134,193 Other trading activities Inveslment income 25,187 189 25,187 189 TotAI 160 308 3.000 163,308 EXPENDITURE ON Charitable aetivities Mental Health Support Services 172 243 178 143 NET INCOMEI(EXPENDITURE) (11,935) (2,900) (14,835) RECONCILIATION OF FUNDS Total funds brought fon¥ard 88,359 13,258 101,617 TOTAL FUNDS CARRIED FORWARD 76,424 10,358 86,782 Page 10 continued...
THE ABBEY ROAD CENTRE NOTES TO THE FINANCIAL STATEMENTS - Continued FOR THE YEAR ENDED 31 MARCH 2024 TANGIBLE FIXED ASSETS Freehold propety Plant and machinery Computer equipment Totals COST At l April 2023 and 31 March 2024 15 45.125 DEPRECIATION At l April 2023 Charge for year 29,123 220 14,073 1,195 43,197 1.415 At 31 March 2024 29 15.268 IYET BOOK VALUE At 31 March 2024 438 75 513 At 31 March 2023 658 1,270 The freehold propety 7-9 Abbey Road was transferred to the charitsble company by the Local Health Authority for £1 in March 2013. The is a covenant on the property that it cannot be sold and that in the event of the charitable company be wound up it would be transferred back to the Local Health Authority. STOCKS 2024 2023 Stocks 150 175 DLBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Debtors Other debtors Prepayments Accrued income 10.836 23 318 1.474 6,022 6,026 Pagell continued...
THE ABBEY ROAD CENTRE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 io. CREDITORS: AMOUIYTS FALLING DUE WtTHIN ONE YEAR 2024 2023 Bank loans and overdrafts (see note I l) Trade creditors Taxation and social security Other creditors 4.480 5,315 386 10,834 11,125 18,789 ii. LOANS An analysis of the marity of loans is given below: 2024 2023 Amounts falling due within one year on demand: Bank ovcrdrafts 4.480 5.315 12. LEASING AGREEMENIS Minimum lease payments under non-cancellable operating leases fall due as follows: 2024 2023 Within one year Between on¢ and fiv¢ y¢ars 2,018 3,599 2,018 1.390 3,408 13. MOVEMENf IN FUNDS Net movement in funds At 31.324 At 1.4.23 Unrestricted funds General fund 76,424 9,689 86,113 Restricted funds Maintenance fund IOJ58 (10,258) 100 TOTAL FUNDS 86,782 569 86213 Page 12 continued...
THE ABBEY ROAD CENfRE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 13. MOVEMENT IN FUNDS- eontinued Net movernent in fund& included in the abov¢ aT¢ as follows: Incoming resources Resou expended Movement in funds Unrestrieted funds General fund 181.154 (171,465) 9,689 Restrieted funds Maintenance fund 3,000 (13258) (10,258) TOTAL FUNDS 184,154 184,723 569 Comparatives for movement in funds Net movement in funds At 31.3.23 At 1.4.22 Unrestricted funds GeTheral fund 88,359 (11,935} 76.424 Restrietrd funds MaTntenance fund 13.258 (2.900) 10.358 TOTAL FUNDS 101617 Comparative net movement in funds, included in the above are as follows: Incoming r&50urces Resources expended Movement in funds Unrestricted funds General fund 160.308 (172,243) (11,935) Re$trl¢ted funds Maintenance nd 3,000 {5,900) (2.900) TOTAL FUNDS 163,308 178,143) Purpose of restricted funds Maintenance fund This fund is derived from funding from the Local Health Authority and is to b¢ set &side for signifjcant futsre maintenance of the property. Page 13 continued..-
THE ABBEY ROAD CENTRE NOTES TO THE FtNANCIAL sfATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 14. RELATED PARTY DISCLOSURES There were no related party transa¢tions for the year ended 31 March 2024. 15. CHANGE IN LEGAL STA TUS The charity converted from a Company Limited by Guarantee to a Charitable Incolyorated Organisation (Clo} on 30 November 2023 &8 amended on I l December 2023. Page 14