**REGISTERED CHARITY NUMBER: 1067356**
## **Report of the Trustees and**
## **Unaudited Financial Statements for the Year Ended 31 December 2024**
## **for**
**Rekindle**
Morgan Griffiths LLP Chartered Accountants Cross Chambers
9 High Street Newtown Powys SY16 2NY
**Rekindle**
**Contents of the Financial Statements for the Year Ended 31 December 2024**
|||**Page**||
|---|---|---|---|
|**Reference and Administrative Details**||1||
|**Report of the Trustees**|2|to|3|
|**Independent Examiner's Report**||4||
|**Statement of Financial Activities**||5||
|**Balance Sheet**||6||
|**Notes to the Financial Statements**|7|to|13|
|**Detailed Statement of Financial Activities**||14||
**Rekindle**
**Reference and Administrative Details for the Year Ended 31 December 2024**
|**TRUSTEES**|G J Bland Chair|
|---|---|
||F R Mathieu|
||R A Stratton|
||J Darlington (appointed 18.2.25)|
||N J Davies (appointed 18.2.25)|
||M L Greenwood (appointed 26.3.25)|
||F A N Carlile (resigned 21.8.24)|
||R W C Brierley (resigned 13.11.24)|
||J A Jones (resigned 21.8.24)|
|**PRINCIPAL ADDRESS**|2-3 Ladywell Centre|
||Newtown|
||Powys|
||SY16 1AF|
|**REGISTERED CHARITY**|1067356|
|**NUMBER**||
|**INDEPENDENT EXAMINER**|Morgan Griffiths LLP|
||Chartered Accountants|
||Cross Chambers|
||9 High Street|
||Newtown|
||Powys|
||SY16 2NY|
Page 1
**Rekindle**
**Report of the Trustees for the Year Ended 31 December 2024**
The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: 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) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
Rekindle is the only charity in Mid Wales solely focused on preventative and early intervention mental health support for 16-25-year-olds.
We empower young people to take control of their lives, build resilience, set goals, and feel part of their community. Our free service includes 1:1 counselling, 1:1 wellbeing support, and group activities. We want to challenge the stigma associated with mental health, and get young people talking. We believe in person-centred care: through the use of the Recovery Model, we support young people in the way they wish to be supported. Access is via self-referral or referral from other agencies; statutory or non-statutory, family or other.
## **Significant activities**
A planned recovery programme adjusted to individual needs and aimed at the development of life skills, the restoration of self-respect and the resumption of meaningful activities.
## **Public benefit**
In setting the objectives each year, the trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit. In particular, the trustees always ensure that the activities undertaken are in line with the charitable objects and aims under which the charity was established.
## **ACHIEVEMENTS AND PERFORMANCE**
## **Charitable activities**
2024 has been centred around the growth of Rekindle. This year was our first full year in our new premises and the building proved to be the perfect launchpad for our expanded team of counsellors using the additional therapy rooms. The welcoming social space enabled us to expand our regular groups and activities and we trialled a new social programme with games, photography, cooking and gardening sessions. We started a 'hub' on Thursday afternoons where people could come and socialise and meet new friends of similar age. During the year one of our trainee counsellors became fully qualified. We continue to support trainees and visit Shrewsbury college yearly to introduce ourselves to the students who will be needing placements in the future.
To introduce our new centre, groups of students visited from Newtown College. We also had a stall at the Freshers Fair and participated in the college festival of Wellbeing as well as giving out information at the Police Open Day.
Our new website went live and fully functional, with some helpful additions to better serve our stakeholders and friends. The translated Welsh language site was also launched.
During the year we had fantastic support from the local community with supporters doing a wide variety of sponsored and musical events. Highlights included a sponsored staff, trustees and service users walk from Staylittle to Montgomery as part of the Across Wales Walk.
Mental health in young people continued to be highlighted in the national media and these challenges for young people are amplified here in rural Wales with the isolation caused by long distances, poor internet connections, limited public transport, few services and limited opportunities for young people to meet up. Due to increasing need post pandemic, and the funding environment being particularly challenging, we are incredibly grateful to all our funders, supporters and donors on whom we are dependent as we do not receive any statutory funding.
## **FINANCIAL REVIEW**
## **Financial position**
The statement of Financial Activities show a deficit for the year of £27,292 (2023: £13,627 surplus), and reserves now stand at £167,791 (2023 £195,083).
Page 2
**Rekindle**
**Report of the Trustees for the Year Ended 31 December 2024**
## **FINANCIAL REVIEW**
## **Principal funding sources**
The three principal funding sources upon which Rekindle depends are its grants made available by other charitable bodies, monies raised by the trustees through local events organised by them, and independent donations made by local organisations.
## **Investment policy and objectives**
The charity has the power to make any investment which the trustees see fit. As the company has limited funds it maintains an appropriate amount, in accordance with its reserves policy, in the current account for working capital and the balance of its funds are kept in a deposit bank account to provide a return on the funds.
## **Reserves policy**
Rekindle charity's funds are all being applied in accordance with its objectives. The charity's assets are all being maintained in the furtherance of these objectives. The Trustees have examined the needs, risks and challenges faced by the charity in both the short and medium term and accordingly have established a new policy which aims to ensure that unrestricted funds not committed or invested in tangible or intangible fixed assets - i.e. free reserves - held by the charity are sufficient to ensure that the charity can continue to operate to meet the needs of its beneficiaries in the event of unforeseen and potentially damaging circumstances arising. The trustees aim to maintain free reserves in unrestricted funds at a level which equates to approximately six months of unrestricted charitable expenditure. The trustees consider that this level will provide sufficient funds to respond to applications for grants and ensure that support and governance costs are covered.
As detailed in the Reserves Policy, reserves are broken down in five separate designated sub-categories including (i) Restructuring funds, (ii) Continuity funds, (iii) Special projects, (iv) Dissolution fund as well as (v) Cyclical Maintenance fund. At the balance sheet date, all the funds held by the charity are earmarked for commitments already entered to fund operational expenses including the ongoing costs of providing the service. The Trustees have agreed that its Reserves Policy should be reviewed and updated at the last quarterly Trustee board meeting of each year.
Free reserves which equate to net current assets (excluding restricted funds) amount to £118,631 (2023: £173,970).
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its constitution and constitutes a charitable incorporated organisation (CIO).
## **Recruitment and appointment of new trustees**
Most recently, Rekindle has used the services of Reach Volunteering to advertise for trustees. Together with our HR partner, new trustees have been subjected to a rigorous selection process to ensure new recruits fit well into the Board. The selection process includes a written submission with CV, followed by telephone screening conducted by the HR partner. Based on the HR partner's recommendation, candidates are invited for face-to-face interview with a panel that includes the Service Delivery Manager and members of the Board. To date, this process has proved to be extremely effective.
The principal risk facing Rekindle is that of ensuring sufficient income to continue delivering its service. The move to better premises and the recruitment of additional staff have allowed a substantial increase in the number of young people accessing Rekindle's services, but inevitably the charity's costs have risen significantly, placing greater emphasis on the need for funding.
Approved by order of the board of trustees on 5 June 2025 and signed on its behalf by:
G J Bland - Trustee
Page 3
**Independent Examiner's Report to the Trustees of Rekindle**
## **Independent examiner's report to the trustees of Rekindle**
I report to the charity trustees on my examination of the accounts of Rekindle (the Trust) for the year ended 31 December 2024.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all 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 Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts 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.
Thomas Landers BA FCA
Morgan Griffiths LLP Chartered Accountants Cross Chambers 9 High Street Newtown Powys SY16 2NY
5 June 2025
Page 4
**Rekindle**
## **Statement of Financial Activities for the Year Ended 31 December 2024**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
Investment income
3
**Total**
**EXPENDITURE ON**
Raising funds
**Charitable activities**
4
Mental Health & Wellbeing
**Total**
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|**31.12.24**
Unrestricted
Restricted
**Total**
fund
funds
**funds**
£
£
**£**
**149,288**
**40,750**
**190,038**
**5,143**
**-**
**5,143**
**154,431**
**40,750**
**195,181**
**761**
**-**
**761**
**211,812**
**9,900**
**221,712**
**212,573**
**9,900**
**222,473**
**(58,142)**
**30,850**
**(27,292)**
**185,183**
**9,900**
**195,083**
**127,041**
**40,750**
**167,791**|31.12.23
Total
funds
£
164,529
1,373|
|---|---|---|
|||165,902|
|||-
152,275|
|||152,275|
|||13,627
181,456|
|||195,083|
The notes form part of these financial statements
Page 5
**Rekindle**
## **Balance Sheet 31 December 2024**
|Notes
**FIXED ASSETS**
Tangible assets
9
**CURRENT ASSETS**
Debtors
10
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
11
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
13
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|**31.12.24**
**£**
**8,410**
**1,148**
**166,824**
**167,972**
**(8,591)**
**159,381**
**167,791**
**167,791**
**127,041**
**40,750**
**167,791**|31.12.23
£
11,213
741
186,895
187,636
(3,766)
183,870
195,083
195,083
185,183
9,900
195,083|
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 5 June 2025 and were signed on its behalf by:
G J Bland - Trustee
The notes form part of these financial statements
Page 6
**Rekindle**
**Notes to the Financial Statements for the Year Ended 31 December 2024**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is 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 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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits 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 classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost Fixtures and fittings - 25% on reducing balance Art Materials - 25% on cost Computer equipment - 25% on reducing balance
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise 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.
## **Pension costs and other post-retirement benefits**
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Page 7
continued...
**Rekindle**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024**
## **2. DONATIONS AND LEGACIES**
|Donations
Grants
Grants received, included in the above, are as follows:
The Louis and Valerie Freedman Charitable Settlement
Lord Merthyr - Community Fund in Wales
The Allen Lane Foundation
Tudor Trust
Sam Morley Family Trust
Margaret Davies Charity
Newtown & Llanllwchaiarn Town Council
Lloyds Bank Foundation
Postcode Community
Magdalen Trust
Nisa - Making a Difference Locally
Dyfed - Powys Police
Fine & Country Foundation
Society of the holy child
PAVO
Garfield Weston Foundation
Arnold Clark
Tesco
Beams
Cae Post
Cultivate
Lord Merthyr
HSBC
Lyndall Beatty
**3.**
**INVESTMENT INCOME**
Deposit account interest|**31.12.24**
**£**
**12,119**
**177,919**
**190,038**
**31.12.24**
**£**
**-**
**-**
**-**
**-**
**8,897**
**5,000**
**988**
**25,000**
**44,401**
**-**
**947**
**-**
**750**
**10,000**
**16,532**
**20,000**
**2,500**
**500**
**26,876**
**6,078**
**1,000**
**2,500**
**5,650**
**300**
**177,919**
**31.12.24**
**£**
**5,143**|31.12.23
£
37,130
127,399|
|---|---|---|
|||164,529|
|||31.12.23
£
15,000
2,500
3,000
30,000
8,000
9,900
1,000
25,000
25,000
2,000
1,000
4,999
-
-
-
-
-
-
-
-
-
-
-
-|
|||127,399|
|||31.12.23
£
1,373|
Page 8
continued...
**Rekindle**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024**
## **4. CHARITABLE ACTIVITIES COSTS**
|Mental Health & Wellbeing
**5.**
**DIRECT COSTS OF CHARITABLE ACTIVITIES**
Staff costs
Rates and water
Insurance
Postage and stationery
Sundries
Other charitable activities
Room Hire / Rent
IT Costs
Travel
Depreciation
Interest payable and similar charges|Direct
Costs (see
note 5)
£
**220,174**|Support
costs
£
**1,538**
**31.12.24**
**£**
**167,827**
**498**
**1,683**
**3,418**
**1,400**
**13,068**
**22,010**
**7,341**
**7**
**2,803**
**119**
**220,174**|Totals
£
**221,712**|
|---|---|---|---|
||||31.12.23
£
107,284
5,960
1,563
4,572
598
11,806
9,277
4,575
132
3,737
121|
||||149,625|
## **6. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
## **7. STAFF COSTS**
|Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Recovery Practitioners
Administrators
Counsellor
Service Delivery Manager|**31.12.24**
**£**
**157,996**
**5,003**
**4,828**
**167,827**
**31.12.24**
**2**
**2**
**2**
**1**
**7**|31.12.23
£
101,129
2,902
3,253|
|---|---|---|
|||107,284|
|||31.12.23
2
2
1
1
6|
Page 9
continued...
**Rekindle**
**Notes to the Financial Statements - continued for the Year Ended 31 December 2024**
## **7. STAFF COSTS - continued**
No employees received emoluments in excess of £60,000.
The charity considers its key management personnel comprise the Board of Trustees who do not receive any form of remuneration.
|**8.**
**COMPARATIVES FOR THE STATEMENT OF**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Investment income
**Total**
**EXPENDITURE ON**
**Charitable activities**
Mental Health & Wellbeing
**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**
**9.**
**TANGIBLE FIXED ASSETS**
Plant and
machinery
£
**COST**
At 1 January 2024 and
31 December 2024
**2,866**
**DEPRECIATION**
At 1 January 2024
**2,866**
Charge for year
**-**
At 31 December 2024
**2,866**
**NET BOOK VALUE**
At 31 December 2024
**-**
At 31 December 2023
-|**FINANCIAL ACTIVITIES**
Unrestricted
Restricted
fund
funds
£
£
154,629
9,900
1,373
-
156,002
9,900
152,275
-
3,727
9,900
181,456
-
185,183
9,900
Fixtures
and
Art
Computer
fittings
Materials
equipment
£
£
£
**28,575**
**482**
**11,470**
**17,451**
**482**
**11,381**
**2,781**
**-**
**22**
**20,232**
**482**
**11,403**
**8,343**
**-**
**67**
11,124
-
89|Total
funds
£
164,529
1,373|
|---|---|---|
|||165,902|
|||152,275|
|||13,627
181,456|
|||195,083|
|||Totals
£
**43,393**
**32,180**
**2,803**
**34,983**
**8,410**
11,213|
Page 10
continued...
**Rekindle**
## **Notes to the Financial Statements - continued for the Year Ended 31 December 2024**
## **10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Prepayments and accrued income
**11.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Taxation and social security
Other creditors
**12.**
**ANALYSIS OF NET ASSETS BETWEEN FUNDS**
Unrestricted
Restricted
fund
funds
£
£
Fixed assets
**8,410**
**-**
Current assets
**127,222**
**40,750**
Current liabilities
**(8,591)**
**-**
**127,041**
**40,750**
**13.**
**MOVEMENT IN FUNDS**
At 1.1.24
£
**Unrestricted funds**
General fund
**185,183**
**Restricted funds**
Margaret Davies - Rent
**9,900**
Garfield Weston Foundation
**-**
Fine & Country Foundation
**-**
Postcode Community
**-**
**9,900**
**TOTAL FUNDS**
**195,083**|**31.12.24**
**£**
**1,148**
**31.12.24**
**£**
**8,023**
**568**
**8,591**
**31.12.24**
Total
funds
**£**
**8,410**
**167,972**
**(8,591)**
**167,791**
Net
movement
in funds
£
**(58,142)**
**(9,900)**
**20,000**
**750**
**20,000**
**30,850**
**(27,292)**|31.12.23
£
741
31.12.23
£
-
3,766
3,766
31.12.23
Total
funds
£
11,213
187,636
(3,766)
195,083
At
31.12.24
£
**127,041**
**-**
**20,000**
**750**
**20,000**
**40,750**
**167,791**|
|---|---|---|
Page 11
continued...
**Rekindle**
**Notes to the Financial Statements - continued for the Year Ended 31 December 2024**
## **13. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|Incoming
resources
£
**Unrestricted funds**
General fund
**154,431**
**Restricted funds**
Margaret Davies - Rent
**-**
Garfield Weston Foundation
**20,000**
Fine & Country Foundation
**750**
Postcode Community
**20,000**
**40,750**
**TOTAL FUNDS**
**195,181**
**Comparatives for movement in funds**
At 1.1.23
£
**Unrestricted funds**
General fund
181,456
**Restricted funds**
Margaret Davies - Rent
-
**TOTAL FUNDS**
181,456
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
156,002
**Restricted funds**
Margaret Davies - Rent
9,900
**TOTAL FUNDS**
165,902|Resources
expended
£
**(212,573)**
**(9,900)**
**-**
**-**
**-**
**(9,900)**
**(222,473)**
Net
movement
in funds
£
3,727
9,900
13,627
Resources
expended
£
(152,275)
-
(152,275)|Movement
in funds
£
**(58,142)**
**(9,900)**
**20,000**
**750**
**20,000**
**30,850**
**(27,292)**
At
31.12.23
£
185,183
9,900
195,083
Movement
in funds
£
3,727
9,900
13,627|
|---|---|---|
Page 12
continued...
**Rekindle**
**Notes to the Financial Statements - continued for the Year Ended 31 December 2024**
## **13. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|||Net||
|---|---|---|---|
|||movement|At|
||At 1.1.23|in funds|31.12.24|
||£|£|£|
|**Unrestricted funds**||||
|General fund|181,456|(54,415)|127,041|
|**Restricted funds**||||
|Garfield Weston Foundation|-|20,000|20,000|
|Fine & Country Foundation|-|750|750|
|Postcode Community|-|20,000|20,000|
||-|40,750|40,750|
|**TOTAL FUNDS**|181,456|(13,665)|167,791|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Margaret Davies - Rent
Garfield Weston Foundation
Fine & Country Foundation
Postcode Community
**TOTAL FUNDS**|Incoming
resources
£
310,433
9,900
20,000
750
20,000
50,650
361,083|Resources
expended
£
(364,848)
(9,900)
-
-
-
(9,900)
(374,748)|Movement
in funds
£
(54,415)
-
20,000
750
20,000|
|---|---|---|---|
||||40,750|
||||(13,665)|
## **14. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 December 2024.
Page 13
**Rekindle**
## **Detailed Statement of Financial Activities for the Year Ended 31 December 2024**
||31.12.24|31.12.23|
|---|---|---|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Donations|**12,119**|37,130|
|Grants|**177,919**|127,399|
||**190,038**|164,529|
|**Investment income**|||
|Deposit account interest|**5,143**|1,373|
|**Total incoming resources**|**195,181**|165,902|
|**EXPENDITURE**|||
|**Raising donations and legacies**|||
|Events & Fundraising|**761**|-|
|**Charitable activities**|||
|Wages|**157,996**|101,129|
|Social security|**5,003**|2,902|
|Pensions|**4,828**|3,253|
|Rates and water|**498**|5,960|
|Insurance|**1,683**|1,563|
|Postage and stationery|**3,418**|4,572|
|Sundries|**1,400**|598|
|Other charitable activities|**13,068**|11,806|
|Room Hire / Rent|**22,010**|9,277|
|IT Costs|**7,341**|4,575|
|Travel|**7**|132|
|Fixtures and fittings|**2,781**|3,708|
|Computer equipment|**22**|29|
|Bank Charges|**119**|121|
||**220,174**|149,625|
|**Support costs**|||
|**Governance costs**|||
|Accountancy and legal fees|**1,538**|2,650|
|Total resources expended|**222,473**|152,275|
|**Net (expenditure)/income**|**(27,292)**|13,627|
This page does not form part of the statutory financial statements
Page 14