**REGISTERED COMPANY NUMBER: 03233495 (England and Wales) REGISTERED CHARITY NUMBER: 1070802** 

## **REPORT OF THE TRUSTEES AND** 

**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** 

## **FOR** 

## **GILFACH GOCH COMMUNITY ASSOCIATION LIMITED** 

Bevan Buckland LLP Chartered Accountants Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA 



**GILFACH GOCH COMMUNITY ASSOCIATION LIMITED** 

## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** 

|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|6|
|**Independent Examiner's Report**||7||
|**Statement of Financial Activities**||8||
|**Balance Sheet**||9||
|**Cash Flow Statement**||10||
|**Notes to the Cash Flow Statement**||11||
|**Notes to the Financial Statements**|12|to|24|
|**Detailed Statement of Financial Activities**||25||





## **GILFACH GOCH COMMUNITY ASSOCIATION LIMITED** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023** 

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. 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). 

## **ACCOUNTABILITY AND GOVERNANCE** 

The Board of Trustees are pleased to present the Annual Report for the year ending 31 March 2023 together with the organisations financial statements which have been prepared in order to meet the requirements for a directors' report and accounts for Companies Act (2006) purposes. 

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011, the Companies Act 2006 and 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 2015). 

Gilfach Goch Community Association is a company limited by guarantee and a registered charity which is managed by a Board of Trustees / Company Directors. The principal activity of the company is 'to promote any charitable purpose for the benefit of the community in Gilfach Goch and in particular the advancement of education, the promotion of good health and the relief of poverty, distress and sickness'. 

The Trustees / Directors comprise of representation from a diverse background. Between the Board Members, there is a diverse knowledge, understanding and skill set in a range of areas within the voluntary sector, ensuring all the work carried out is done so in accordance with the organisations objectives. They ensure the needs of the community are being met and that all services, projects, classes, courses and activities are inclusive for people of all ages and abilities. Their combined knowledge, expertise and understanding of the voluntary sector enables good governance of the organisation including within the legal, financial, IT, human resource and education fields. The Board demonstrates professionalism at all times, maintaining the ethical standards expected by our organisation and those outlined in the Nolan Principles (the seven principles of public life). Under the rules of the Charity's Constitution, the Trustees / Directors are known as the Management Committee. 

In addition to the knowledge and skills of the existing Board Members, our organisation has the ability, under the rules laid down in our Constitution, to draw on external expertise as and when required for the benefit of the organisation, its staff, sessional workers, volunteers and communities we work in. The Board of Trustees has delegated all day to day management responsibilities of Gilfach Goch Community Association and its social enterprise arm Red Valley Enterprises to the Community Association Manager. She is supported by two senior managers and a knowledgeable, hard working staff team. 

All work undertaken is the result of regular consultations within the communities we work, with partner organisations in the voluntary, statutory and private sector ensuring services, projects, classes, courses and activities are relevant to the needs identified. With a commitment to ensuring all work is inclusive to all, special emphasis is afforded to marginalised groups and strengthening community cohesion. 

The organisation is committed to addressing the climate change emergency and continues to be accredited with the Green Dragon Award. 

## **OBJECTIVES AND ACTIVITIES** 

## **Our Mission** 

Our Mission Statement, "to help bring out the best from the community, for the community, through consultation with the community". 

## **Our Values** 

In essence, we ensure that all our projects, services, classes, courses and activities are being developed in line with the changing identified needs of the community. We do this by maximising the sustainability of our work through working collaboratively with other organisations and partners in order to build a resilient, cohesive and inclusive community. This allows community members the ability to have a stake in their own future. Underpinning all the work we do is our commitment to the Equality Act (2010), the National Principles for Public Engagement in Wales and the Children and Young People's National Participation Standards. We continue to demonstrate diversity, fairness, integrity, accountability, partnership and sustainability. 

Page 1 



**GILFACH GOCH COMMUNITY ASSOCIATION LIMITED** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023** 

## **OBJECTIVES AND ACTIVITIES** 

## **Staff** 

The organisation is very proud of its staff team and recognise that through their hard work, great things happen. Their dedication and loyalty have been key to ensuring the organisation continues to meet its objective. Their willingness to adapt the delivery of projects, services, classes, courses and activities so as to include a wider spectrum of the community is testament of their commitment to improving the lives of others. They do this even in the midst of uncertainty as to whether their post will continue to be funded in future. We are particularly proud of the fact that our staff team has worked tirelessly throughout the past 12 months and continue to put the needs of others before their own. 

## **Volunteers** 

Our success to date can be attributed to the hard work of our volunteers who with staff support, are able to establish, develop and deliver needs-based services within the community and local surrounding areas. Through annual consultation, regular monitoring and evaluation, we are able to ensure we have up to date information relating to the needs of the community and that we are meeting these needs through the delivery of services. 

With an excellent track record spanning 27 years, we continue working in disadvantaged areas with some of the most marginalised, vulnerable people. The organisation has earned itself an excellent reputation for engaging with and supporting some of the hardest to reach community members and continues to make a positive difference to the lives of many. Our ability to recruit, train and develop volunteers has earned us the Investors in Volunteers Award on four occasions. 

Page 2 



## **GILFACH GOCH COMMUNITY ASSOCIATION LIMITED** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023** 

## **ACHIEVEMENT AND PERFORMANCE** 

## **Charitable activities** 

## **Review of activities and achievements, including public benefits** 

The Trustees confirm that they have referred to the Charity Commission's guidance on public benefit when reviewing the aims and objectives of the charity. During the year 1st April 2022 to 31st March 2023, the organisation continued to secure monies through a combination of being commissioned to deliver frontline services, grant funding and donations. A number of successful applications enabled us to continue delivering a number of existing and new successful projects designed to enhance the lives of those we work with. 

## **Communities for Work Plus** 

As a result of the Welsh Government's closure of the Communities First Programme in March 2018, a Legacy Fund was created and for our region, it is managed by RCT Council. The Council have subsequently used some of this money to commission us to deliver work clubs throughout several communities within RCT and pay a small amount towards housing their own staff in our building. This legacy fund continued on a like for like basis during the 2022/2023 financial year. 

Managing a 'grass roots' programme which is heavily embedded with a 'top down' approach to delivery and monitoring, on a severely reduced budget, has perhaps been one of the most challenging situations the GGCA has had to experience. The days of being able to help the most vulnerable people in the community and local surrounding areas have now been replaced by an ever-prescriptive set of targets that mean we can deliver this project to those who fit the criteria set down by Welsh Government and RCT Council. Many of the most vulnerable have therefore been further excluded. 

As an organisation set up to help those most in need, it is worrying that narrowly focused programmes are substantially restricting which members of the community we can work with. Witnessing the drawbacks of such changes has led us to develop a number of other initiatives in order to 'fill the identified gaps in provision' that increasingly widens as a result of target driven outcomes. This is something which does not sit comfortably with many voluntary sector organisations. 

## **Flying Start** 

The Flying Start Programme has been delivered through our Messy Monsters childcare setting which continues to provide a high-quality childcare provision free at the point of delivery. This is offered to parents of all eligible 2-3 year old's for two and a half hours a day, 5 days a week for 39 weeks. Our provision provides a clean, warm, friendly environment where the children feel safe and secure and are stimulated to develop skills and increase confidence and self-esteem. Linked to foundation phase, it enables a seamless transition between the setting and school, filling some gaps in provision for the child. 

At our Messy Monsters Childcare setting, the children are offered a broad curriculum of activities based on the Foundation Phase as laid down by the Department for Children, Education, Lifelong Learning and Skills. Through hard work and commitment, we have been able to secure a contract to continue delivering this programme. However, planned changes may affect how the provision is delivered in the future as again, funds are expected to be reduced further despite the cost of living crisis that is looming. 

With a Quality of Care Award issued by the Pre School Play Association and excellent CIW inspection reports, our provision continues to offer children and their parents a high-quality setting with a dedicated team of staff. 

## **Full Day Care** 

In addition to our Flying Start provision, we have addressed an ongoing barrier to employment for those who have struggled with childcare. In January 2020, we established a full day care provision for children aged 0-12 years. Opening 8am until 6pm Monday to Friday, it provides affordable childcare, removing that barrier for parents returning to employment. 

## **Active Inclusion** 

We were awarded funding to deliver an active inclusion project for 16-24 year olds. The project was extremely successful and as a result, we were invited to apply for a reprofiling which, being successful, ensured we were able to extend the lifespan of the project to the last possible funding deadline of 31.12.2022. This ensured we could continue to provide employment opportunities to young people for 16 hours per week for 16 weeks. During this time the young people gained employability skills and completed a number of training courses which increased their chances of gaining employment beyond their time engaged in this project. Overall the project far exceeded the initial targets and the Welsh Council for voluntary Action (WCVA) who administer the funding stated we are "one of the best projects" and a prime example of successful delivery.  This project ended by the above date of 31.12.2022. 

Page 3 



**GILFACH GOCH COMMUNITY ASSOCIATION LIMITED** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023** 

## **Kick Start** 

Contracted by the Department of Work and Pensions, we have worked with young people to develop their knowledge, skills and experience of employment through our supported employment programme. This programme ended in September 2022 but we had feedback from our local DWP Coordinators who informed us that we were one of the most successful projects where young people received excellent support, enabling them to move into sustainable employment. 

## **Big Lottery - Climate Action** 

The project will establish and develop a range of activities contributing towards tackling the climate emergency. Participants will learn simple, effective, achievable steps to reduce carbon emissions, this learning through action will enable participants to gain a better understanding of why we need to take action. 

The project will help change attitudes as we encourage a move away from "What can we do about it" and confidently state, "This is what we are doing about it". We want those we work with to spread the word (as they often do), telling family and friends that by participating in activities, they are learning through action, socialising, having fun and are proud to be part of the climate solution. 

## **Winter Warmer, Winter Wellbeing projects** 

In January GGCA secured several smaller pots of funding ranging from £500 to £10440 to delivery its various sessions such as Knit & Natter, Arts & Crafts and Pottery, Men's Shed, Fitness/Dance as well as providing a Warm Centre Hub for the community as a result of the cost of living crises. We also secured funds to provide winter warm packs containing woolly hats, gloves, scarfs, hot water bottles, dressing gowns & blankets and separate funding to provide children and adults with wellbeing packs containing shower gel, shampoo, hand towels, nail files, cotton wool buds etc. These packs were distributed to those who were struggling through the winter months. 

## **FINANCIAL REVIEW** 

## **Going concern** 

Going forward, Gilfach Goch Community Association will endeavour to generate funds to cover all financial commitments. The building continues to maintained, compliant with the Disability Discrimination Act and Equality Act 2010. There are no outstanding litigations. We have a senior finance manager and a finance assistant who monitor the finances of the organisation and its' social enterprise arm. Our financial procedures are in place and regularly revised. Monthly financial reports are produced and submitted to the board of trustees. Finance is a permanent item on the agenda at the monthly Board of Trustees meetings and the finance officer is on hand throughout the monthly meetings to explain the accounts and answer questions from the Community Association Manager and Board of Trustees. We are currently planning to upgrade our financial systems in the next financial year to enable a more efficient way of working in order to reduce costs on a long term basis. 

## **Lease** 

Our current lease agreement with RCT Council has four years remaining. However, due to the way in which our organisation is audited, the low number of years remaining on our lease is reflected in our Statement of Financial Activities. This means that it shows our expenditure as being substantially more than our income and this has a profound effect on our ability to secure funding. However, the accounts are only produced in this way to take into account the depreciation rate of the building and is not due to overspending and/or exceeding our level of income. In light of this, we are in the process of agreeing a new 25 year lease with RCT council but due to the pandemic, this has been put on hold. It is expected that discussions with RCT Council can re-commenced in 2023/2024 so that a new, longer running lease can be secured. 

## **Financial review** 

The main source of funding comes from a range of funding bodies and income donated back to the organisation from its social enterprise arm. 

Page 4 



## **GILFACH GOCH COMMUNITY ASSOCIATION LIMITED** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023** 

## **PLANS FOR FUTURE PERIODS** 

In order to continue working towards our objective in the context of current and future challenges we will continue to: 

- Provide a voice that ensures **all** sectors of the community are represented. 

- Recruit, train and support volunteers. 

- Establish, develop and deliver services, classes, courses, projects and activities that meet the identified needs of the community and individuals particularly in relation to health, education and employability. 

- Create opportunities that enhance the lives of a diverse range of individuals. 

- Maintain existing and develop new meaningful key partnerships with shared values to maximise potential benefits for community members of all ages and abilities. 

- Commit to tackling the climate emergency 

- Work towards increasing the levels of unrestricted funds through the continued development of socialenterprise activities, fund raising events and donations. 

- Regularly monitor the potential risks the organisation may be exposed to. 

- We will also monitor closely the information available to us relating to the pandemic, devise new ways of working and expand our emergency work to include new areas where need is high. 

As grant funding is becoming more difficult to secure we know we face some difficult times in the immediate future and as such, we make every effort to ensure our organisation is in a position to continue forging ahead for the benefit of the community by looking at ways of generating income. 

## **STRUCTURE, GOVERNANCE AND MANAGEMENT** 

## **Governing document** 

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. 

## **Remuneration of Trustees and Senior Management** 

The Board of Trustees volunteer their time in a number of ways, in particular during the monthly Management Committee Meetings. Although they are advised that as a volunteer, they can claim any expenses incurred, none of the Trustees have submitted a claim this financial year. The Community Association Manager is employed by the organisation and paid a salary. The salaries for all paid employees and any sessional workers are in line with that of other organisations carrying out similar work and are appropriate for the job roles. Any changes to salaries must be authorised by the Community Association Manager and the Board of Trustees prior to any change taking place. 

## **Related parties** 

Red Valley Enterprises CIC is a registered Community Interest Company and the Social Enterprise arm of Gilfach Goch Community Association. It was established in 2007 and has continually been developed in line with its objectives and the objectives of Gilfach Goch Community Association. The profits from Red Valley Enterprises CIC are gift aided each year to the Association to increase levels of unrestricted funds thus enabling the Charity to become less reliant on grant funding and to help aid the future sustainability of the organisation. 

## **Red Valley Enterprise CIC - Achievements and Performance** 

Throughout the last financial year and despite the economic and political uncertainty, Red Valley Enterprises C.I.C has managed to generate a level of income through its various social enterprise initiatives. Red Valley Enterprises continues to build on its firm foundations and as we continue to progress our work since the pandemic, more groups are using our facilities, this evident through a significant increase in bookings. This is of course all subject to any changes we may have to make in the event of local or national emergencies. 

## **Investment Powers, policy and performance** 

Under the memorandum and articles of association, the charity has the power to make any investment which the directors believe will be beneficial in terms of meeting the aims and objectives of the organisations. 

Page 5 



**GILFACH GOCH COMMUNITY ASSOCIATION LIMITED** 

## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023** 

## **REFERENCE AND ADMINISTRATIVE DETAILS Legal and administrative information** 

||Gilfach Goch Community||
|---|---|---|
|**Charity Name**|Association||
|**Company number**|03233495||
|**Charity number**|1070802||
|**Management Committee**|Geunor Evans||
||Allun Warren||
||Olive Francis||
||Hendrik Haye||
||Kay Leek||
||Esther Williams||
||Sylvia Scammell||
||Marylin Hodge|Appointed 15/11/2022|
||Cambrian Avenue Community||
|**Registered Office**|Centre||
||Cambrian Avenue||
||Porth||
||CF39 8TG||
|**Company Secretary**|Kate O'Sullivan||
|**Management Team**|Kate O'Sullivan|Association Manager|
||Joanne Cook|Finance Manager|
|**Bankers**|Barclays Bank Plc||
||Leicester||
||L87 2BB||
||Santander UK Plc||
||Bootle||
||Merseyside||
||L30 4GB||
|**Auditors**|Bevan Buckland LLP||
||Ground Floor, Cardigan House||
||Enterprise Park, Castle Court||
||Llansamlet||
||Swansea||
||SA7 9LZ||



Approved by order of the board of trustees on ............................................. and signed on its behalf by: 

........................................................................ H Haye - Trustee 

Page 6 



## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GILFACH GOCH COMMUNITY ASSOCIATION LIMITED** 

## **Independent examiner's report to the trustees of Gilfach Goch Community Association Limited ('the Company')** 

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2023. 

## **Responsibilities and basis of report** 

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). 

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. 

## **Independent examiner's statement** 

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants 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 attention in connection with the examination giving me cause to believe: 

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 

3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or 

4. the accounts 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 Standard applicable in the UK and Republic of Ireland (FRS 102)). 

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. 

Henry Lloyd-Davies (ACA) The Institute of Chartered Accountants in England and Wales 

Bevan Buckland LLP Chartered Accountants Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA 

Date: ............................................. 

Page 7 



## **GILFACH GOCH COMMUNITY ASSOCIATION LIMITED** 

## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023** 

|Unrestricted<br>funds<br>Notes<br>£<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>2<br>46,578<br>**Charitable activities**<br>4<br>Grants and contracts<br>-<br>Other trading activities<br>3<br>30,000<br>Other income<br>446<br>**Total**<br>77,024<br>**EXPENDITURE ON**<br>**Charitable activities**<br>5<br>Expenditure on charitable activities<br>233,480<br>**NET INCOME/(EXPENDITURE)**<br>(156,456)<br>**Transfers between funds**<br>18<br>54,710<br>**Net movement in funds**<br>(101,746)<br>**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>280,608<br>**TOTAL FUNDS CARRIED FORWARD**<br>178,862|Restricted<br>funds<br>£<br>-<br>428,038<br>-<br>113,419<br>541,457<br>539,623<br>1,834<br>(54,710)<br>(52,876)<br>352,221<br>299,345|2023<br>Total<br>funds<br>£<br>46,578<br>428,038<br>30,000<br>113,865<br>618,481<br>773,103<br>(154,622)<br>-<br>(154,622)<br>632,829<br>478,207|2022<br>Total<br>funds<br>£<br>7,987<br>651,478<br>76,100<br>113,159<br>848,724<br>945,322<br>(96,598)<br>-<br>(96,598)<br>729,427<br>632,829|
|---|---|---|---|



The notes form part of these financial statements 

Page 8 



## **GILFACH GOCH COMMUNITY ASSOCIATION LIMITED** 

## **BALANCE SHEET 31 MARCH 2023** 

|Notes<br>**FIXED ASSETS**<br>Tangible assets<br>12<br>Investments<br>13<br>**CURRENT ASSETS**<br>Debtors<br>14<br>Cash at bank and in hand<br>**CREDITORS**<br>Amounts falling due within one year<br>15<br>**NET CURRENT ASSETS**<br>**TOTAL ASSETS LESS CURRENT LIABILITIES**<br>**NET ASSETS**<br>**FUNDS**<br>18<br>Unrestricted funds<br>Restricted funds<br>**TOTAL FUNDS**|Unrestricted<br>funds<br>£<br>40,664<br>1<br>40,665<br>58,057<br>126,951<br>185,008<br>(46,811)<br>138,197<br>178,862<br>178,862|Restricted<br>funds<br>£<br>273,186<br>-<br>273,186<br>-<br>26,159<br>26,159<br>-<br>26,159<br>299,345<br>299,345|2023<br>Total<br>funds<br>£<br>313,850<br>1<br>313,851<br>58,057<br>153,110<br>211,167<br>(46,811)<br>164,356<br>478,207<br>478,207<br>178,862<br>299,345<br>478,207|2022<br>Total<br>funds<br>£<br>388,700<br>2<br>388,702<br>158,250<br>163,217<br>321,467<br>(77,340)<br>244,127<br>632,829<br>632,829<br>280,608<br>352,221<br>632,829|
|---|---|---|---|---|



The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023. 

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006. 

The trustees acknowledge their responsibilities for 

- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and 

- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. 

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. 

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: 

............................................. H Haye - Trustee 

The notes form part of these financial statements 

Page 9 



## **GILFACH GOCH COMMUNITY ASSOCIATION LIMITED** 

## **CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2023** 

|||2023|2022|
|---|---|---|---|
||Notes|£|£|
|**Cash flows from operating activities**||||
|Cash generated from operations|1|(8,124)|(33,183)|
|Net cash used in operating activities||(8,124)|(33,183)|
|**Cash flows from investing activities**||||
|Purchase of tangible fixed assets||(1,983)|(50,339)|
|Net cash used in investing activities||(1,983)|(50,339)|
|**Cash flows from financing activities**||||
|Loan repayments in year||-|(18,781)|
|Net cash provided by/(used in) financing activities||-|(18,781)|
|||||
|**Change in cash and cash equivalents in**||||
|**the reporting period**||(10,107)|(102,303)|
|**Cash and cash equivalents at the**||||
|**beginning of the reporting period**||163,217|265,520|
|**Cash and cash equivalents at the end of**||||
|**the reporting period**||153,110|163,217|



The notes form part of these financial statements 

Page 10 



## **GILFACH GOCH COMMUNITY ASSOCIATION LIMITED** 

## **NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2023** 

## **1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES** 

|2023<br>£<br>**Net expenditure for the reporting period (as per the Statement of**<br>**Financial Activities)**<br>(154,622)<br>**Adjustments for:**<br>Depreciation charges<br>76,833<br>Loss on disposal of fixed assets<br>-<br>Decrease/(increase) in debtors<br>100,070<br>(Decrease)/increase in creditors<br>(30,405)<br>**Net cash used in operations**<br>(8,124)|2022<br>£<br>(96,598)<br>78,160<br>9,773<br>(24,960)<br>442<br>(33,183)|
|---|---|



## **2.** 

## **ANALYSIS OF CHANGES IN NET FUNDS** 

||At 1.4.22|Cash flow|At 31.3.23|
|---|---|---|---|
||£|£|£|
|**Net cash**||||
|Cash at bank and in hand|163,217|(10,107)|153,110|
||163,217|(10,107)|153,110|
|**Debt**||||
|Debts falling due within 1 year|(13,818)|124|(13,694)|
||(13,818)|124|(13,694)|
|**Total**|149,399|(9,983)|139,416|



The notes form part of these financial statements 

Page 11 



## **GILFACH GOCH COMMUNITY ASSOCIATION LIMITED** 

## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023** 

## **1. ACCOUNTING POLICIES** 

## **Basis of preparing the financial statements** 

The financial statements of the charitable company, 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 Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value. 

## **Preparation of consolidated financial statements** 

The financial statements contain information about Gilfach Goch Community Association Limited as an individual company and do not contain consolidated financial information as the parent of a group. The charity is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. 

## **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. The following specific policies are applied to particular categories of income: 

- Grants, including grants for the purchase of fixed assets, are recognised in full in the Statement of 

- - Financial Activities in the year which they are receivable. 

- Investment income is included when receivable. 

- Incoming resources from charitable trading activity are accounted for when earned. 

## **Expenditure and irrecoverable vat** 

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 split between unrestricted and restricted funds and analysed between functions. The latter allocation has been performed on a percentage basis derived from the time spent on such activities by the charity's employees, or directly where possible. Resources expended include attributable VAT which cannot be recovered. 

## **Costs of raising funds** 

The costs of raising funds are made up of a percentage of the Association Manager's time. 

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. 

## **Expenditure on charitable activities** 

Expenditure on charitable activities include grants made, governance and support costs. 

## **Tangible fixed assets** 

Fixed assets are stated at cost less accumulated depreciation. The costs of minor additions costing below £1000 are not capitalised. 

Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life as follows: 

Leasehold property Straight line over length of lease Fixtures, fittings and equipment 20% reducing balance 

## **Fixed asset investments** 

Fixed asset investments are the shares in the trading subsidiary company which are shown at cost. 

## **Taxation** 

The charity is exempt from corporation 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. 

Page 12 

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**GILFACH GOCH COMMUNITY ASSOCIATION LIMITED** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** 

## **1. ACCOUNTING POLICIES - continued** 

## **Fund accounting** 

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 

## **Donated services** 

In accordance with the Charities SORP (FRS 102), the general volunteer time provided to the Association is not recognised. Refer to the trustees' report for more information about their contribution. 

## **Leasing** 

Rentals applicable to operating leases are charged to the Statement of Financial Activities over the period in which the cost is incurred. 

## **Allocation of support services** 

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the activities of the charity. These costs have been allocated between cost of raising funds and expenditure on charitable activities. 

## **Functional currency** 

The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £. 

## **Debtors** 

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 

## **Creditors and provisions** 

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 

## **2. DONATIONS AND LEGACIES** 

## **3.** 

## **4.** 

|Donations<br>**OTHER TRADING ACTIVITIES**<br>Management charges<br>**INCOME FROM CHARITABLE ACTIVITIES**<br>Activity<br>Grants<br>Grants and contracts<br>Grants received, included in the above, are as follows:<br>Fframwaith - RCT Play<br>Flying Start<br>024285 Active Inclusion<br>Big Lottery<br>BBC Children in Need (Grant 2)<br>Messy Monsters Day Nursery<br>Kickstart<br>Carried forward||2023<br>£<br>46,578<br>2023<br>£<br>30,000<br>2023<br>£<br>428,038<br>2023<br>£<br>65,991<br>87,071<br>83,404<br>21,915<br>-<br>-<br>72,093<br>330,474||2022<br>£<br>7,987<br>2022<br>£<br>76,100<br>2022<br>£<br>651,478|2022<br>£<br>7,987|
|---|---|---|---|---|---|
||||||2022<br>£<br>76,100|
|||||2022<br>£<br>29,223<br>89,575<br>127,069<br>-<br>55,410<br>8,588<br>151,526||
|||||461,391||



Page 13 

continued... 



## **GILFACH GOCH COMMUNITY ASSOCIATION LIMITED** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** 

## **4. INCOME FROM CHARITABLE ACTIVITIES - continued** 

|**4.**|**INCOME FROM CHARITABLE ACTIVITIES - continued**||||
|---|---|---|---|---|
||||2023|2022|
||||£|£|
||Brought forward||330,474|461,391|
||Communities for Work Plus||80,049|84,155|
||WCVA Doorstep Challenge||-|23,610|
||RCT Wellbeing support project||-|3,375|
||Heritage Lottery Fund||-|10,500|
||BAVO Carers Project||-|13,277|
||Interlink Winter Pressures||-|8,310|
||RCT Parent + Toddler||-|1,000|
||European Transition Fund||-|40,000|
||RCT Youth Capital Grant||-|5,860|
||Neighbourhood Network Grant||1,000|-|
||RCT Together||2,000|-|
||Shared Prosperity Fund||10,590|-|
||Trevallis||1,000|-|
||Interlink Taff Ely Windfarm - Winter Warmers||500|-|
||Interlink Taff Ely Windfarm - Cookery Projects||500|-|
||Interlink RCT - Small cost of living grant - Winter Warmers||1,000|-|
||Interlink RCT - Eco Warriors||925|-|
||||428,038|651,478|
|**5.**|**CHARITABLE ACTIVITIES COSTS**||||
||||Support||
|||Direct|costs (see||
|||Costs|note 7)|Totals|
|||£|£|£|
||Expenditure on charitable activities|579,501|193,602|773,103|
|**6.**|**GRANTS PAYABLE**||||
||||2023|2022|
||||£|£|
||Expenditure on charitable activities||-|8,310|
||The total grants paid to institutions during the year was as follows:||||
||||2023|2022|
||||£|£|
||Red Valley Enterprises CIC||-|8,310|
||Grants payable to Red Valley Enterprises CIC for projects.||||
|**7.**|**SUPPORT COSTS**||||
||||Support||
|||Administration|costs|Totals|
|||£|£|£|
||Expenditure on charitable activities|185,340|8,262|193,602|



Page 14 

continued... 



## **GILFACH GOCH COMMUNITY ASSOCIATION LIMITED** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** 

## **8. NET INCOME/(EXPENDITURE)** 

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

||2023|2022|
|---|---|---|
||£|£|
|Depreciation - owned assets|76,833|78,160|
|Deficit on disposal of fixed assets|-|9,773|



## **9. TRUSTEES' REMUNERATION AND BENEFITS** 

There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022. 

## **Trustees' expenses** 

There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022. 

## **10. STAFF COSTS** 

|**STAFF COSTS**|||||
|---|---|---|---|---|
|Wages and salaries<br>The average monthly number of employees during the year was as follows:<br>Project staff<br>Support staff||2023<br>£<br>536,167<br>536,167<br>2023<br>27<br>8<br>35||2022<br>£<br>684,824|
|||||684,824|
|||||2022<br>42<br>7<br>49|



No employees received emoluments in excess of £60,000. 

## **11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES** 

|Unrestricted<br>funds<br>£<br>**INCOME AND ENDOWMENTS FROM**<br>Donations and legacies<br>7,987<br>**Charitable activities**<br>Grants and contracts<br>-<br>Other trading activities<br>76,100<br>Other income<br>21,265<br>**Total**<br>105,352<br>**EXPENDITURE ON**<br>**Charitable activities**<br>Expenditure on charitable activities<br>138,664<br>**NET INCOME/(EXPENDITURE)**<br>(33,312)<br>**Transfers between funds**<br>56,954<br>**Net movement in funds**<br>23,642|Restricted<br>funds<br>£<br>-<br>651,478<br>-<br>91,894<br>743,372<br>806,658<br>(63,286)<br>(56,954)<br>(120,240)|Total<br>funds<br>£<br>7,987<br>651,478<br>76,100<br>113,159<br>848,724<br>945,322<br>(96,598)<br>-<br>(96,598)|
|---|---|---|



Page 15 

continued... 



## **GILFACH GOCH COMMUNITY ASSOCIATION LIMITED** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** 

## **11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued** 

|**RECONCILIATION OF FUNDS**<br>Total funds brought forward<br>**TOTAL FUNDS CARRIED FORWARD**<br>**12.**<br>**TANGIBLE FIXED ASSETS**<br>**COST**<br>At 1 April 2022<br>Additions<br>At 31 March 2023<br>**DEPRECIATION**<br>At 1 April 2022<br>Charge for year<br>At 31 March 2023<br>**NET BOOK VALUE**<br>At 31 March 2023<br>At 31 March 2022|Unrestricted<br>funds<br>£<br>256,966<br>280,608<br>Short<br>leasehold<br>£<br>1,359,626<br>-<br>1,359,626<br>1,025,326<br>57,865<br>1,083,191<br>276,435<br>334,300|Restricted<br>funds<br>£<br>472,461<br>352,221<br>Fixtures<br>and<br>fittings<br>£<br>221,194<br>1,983<br>223,177<br>166,794<br>18,968<br>185,762<br>37,415<br>54,400|Total<br>funds<br>£<br>729,427<br>632,829<br>Totals<br>£<br>1,580,820<br>1,983<br>1,582,803<br>1,192,120<br>76,833<br>1,268,953<br>313,850<br>388,700|Total<br>funds<br>£<br>729,427|
|---|---|---|---|---|
|||||632,829|



Included within leasehold property is the building from which the charity operates. This building was built on land leased from the local authority. The building is being depreciated over the remaining life of the lease, being 4 years. The charity is currently in the final stages of negotiating an extension to the lease and it is on this basis the management committee believe the value of the property is not materially misstated. The centre is still well used and vital for the associations charitable work. If the centre was not made available, the cost of replacing it would be far greater than the current written down value. The property has been extended since the original lease was signed but the lease was not updated to reflect the larger footprint of the building. This matter will be rectified when the new lease is signed. 

## **13. FIXED ASSET INVESTMENTS** 

|**FIXED ASSET INVESTMENTS**||
|---|---|
||Shares in|
||group|
||undertakings|
||£|
|**MARKET VALUE**||
|At 1 April 2022 and 31 March 2023|1|
|**NET BOOK VALUE**||
|At 31 March 2023|1|
|At 31 March 2022|1|



There were no investment assets outside the UK. 

The company's investments at the balance sheet date in the share capital of companies include the following: 

Page 16 

continued... 



## **GILFACH GOCH COMMUNITY ASSOCIATION LIMITED** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** 

## **13. FIXED ASSET INVESTMENTS - continued** 

## **Red Valley Enterprises CIC** 

Registered office: United Kingdom 

|%<br>Class of share:<br>holding<br>Ordinary shares<br>100<br>Aggregate capital and reserves<br>Profit for the year<br>**14.**<br>**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Other debtors<br>Prepayments and accrued income<br>**15.**<br>**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**<br>Other loans (see note 16)<br>Trade creditors<br>Social security and other taxes<br>Other creditors<br>Accruals and deferred income<br>**16.**<br>**LOANS**<br>An analysis of the maturity of loans is given below:<br>Amounts falling due within one year on demand:<br>Other loans<br>**17.**<br>**LEASING AGREEMENTS**<br>Minimum lease payments under non-cancellable operating leases fall due as follows:<br>Within one year<br>Between one and five years||31.3.23<br>£<br>3,928<br>331<br>2023<br>£<br>52,736<br>5,321<br>58,057<br>2023<br>£<br>13,694<br>2,234<br>-<br>7,782<br>23,101<br>46,811<br>2023<br>£<br>13,694<br>2023<br>£<br>948<br>553<br>1,501|31.3.22<br>£<br>3,385<br>543<br>2022<br>£<br>153,808<br>4,442<br>158,250<br>2022<br>£<br>13,818<br>11,289<br>1,031<br>4,959<br>46,243<br>77,340<br>2022<br>£<br>13,818<br>2022<br>£<br>948<br>1,502<br>2,450|31.3.22<br>£<br>3,385<br>543<br>2022<br>£<br>153,808<br>4,442<br>158,250<br>2022<br>£<br>13,818<br>11,289<br>1,031<br>4,959<br>46,243<br>77,340<br>2022<br>£<br>13,818<br>2022<br>£<br>948<br>1,502<br>2,450|
|---|---|---|---|---|
||||||
||||||
||||||



Page 17 

continued... 



## **GILFACH GOCH COMMUNITY ASSOCIATION LIMITED** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** 

## **18. MOVEMENT IN FUNDS** 

|At 1.4.22<br>£<br>**Unrestricted funds**<br>General fund<br>280,608<br>**Restricted funds**<br>Fframwaith - RCT Play<br>-<br>Flying start<br>-<br>Street Games<br>1,500<br>Capital expenditure<br>341,335<br>Millennium Trust<br>2,660<br>Liberation Project<br>747<br>024285 Active Inclusion<br>1,792<br>Messy Monsters Day Nursery<br>-<br>Big Lottery<br>-<br>Kickstart<br>-<br>Heritage Lottery Fund<br>4,187<br>Share Prosperity Fund<br>-<br>Interlink Taff Ely Windfarm - Cookery<br>Projects<br>-<br>Interlink RCT - Eco Warriors<br>-<br>352,221<br>**TOTAL FUNDS**<br>632,829<br>Net movement in funds, included in the above are as follows:<br>**Unrestricted funds**<br>General fund<br>**Restricted funds**<br>Fframwaith - RCT Play<br>Flying start<br>Capital expenditure<br>024285 Active Inclusion<br>Messy Monsters Day Nursery<br>Big Lottery<br>BBC Children in Need (Grant 2)<br>Kickstart<br>Communities for Work Plus<br>Heritage Lottery Fund<br>Neighbourhood Network Grant<br>RCT Together<br>Share Prosperity Fund<br>Trevallis<br>Interlink Taff Ely Windfarm - Cookery<br>Projects<br>Interlink RCT - Eco Warriors<br>**TOTAL FUNDS**|Net<br>movement<br>in funds<br>£<br>(156,456)<br>14,804<br>5,094<br>-<br>(68,147)<br>-<br>-<br>5,851<br>19,108<br>19,353<br>7,314<br>(3,367)<br>399<br>500<br>925<br>1,834<br>(154,622)<br>Incoming<br>resources<br>£<br>77,024<br>65,991<br>87,071<br>-<br>83,404<br>113,419<br>21,915<br>1,500<br>72,093<br>80,049<br>-<br>1,000<br>2,000<br>10,590<br>1,000<br>500<br>925<br>541,457<br>618,481|Transfers<br>between<br>At<br>funds<br>31.3.23<br>£<br>£<br>54,710<br>178,862<br>(14,804)<br>-<br>(5,094)<br>-<br>-<br>1,500<br>-<br>273,188<br>-<br>2,660<br>(747)<br>-<br>(7,643)<br>-<br>(19,108)<br>-<br>-<br>19,353<br>(7,314)<br>-<br>-<br>820<br>-<br>399<br>-<br>500<br>-<br>925<br>(54,710)<br>299,345<br>-<br>478,207<br>Resources<br>Movement<br>expended<br>in funds<br>£<br>£<br>(233,480)<br>(156,456)<br>(51,187)<br>14,804<br>(81,977)<br>5,094<br>(68,147)<br>(68,147)<br>(77,553)<br>5,851<br>(94,311)<br>19,108<br>(2,562)<br>19,353<br>(1,500)<br>-<br>(64,779)<br>7,314<br>(80,049)<br>-<br>(3,367)<br>(3,367)<br>(1,000)<br>-<br>(2,000)<br>-<br>(10,191)<br>399<br>(1,000)<br>-<br>-<br>500<br>-<br>925<br>(539,623)<br>1,834<br>(773,103)<br>(154,622)|
|---|---|---|



Page 18 

continued... 



## **GILFACH GOCH COMMUNITY ASSOCIATION LIMITED** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** 

## **18. MOVEMENT IN FUNDS - continued** 

## **Comparatives for movement in funds** 

|**Unrestricted funds**<br>General fund<br>**Restricted funds**<br>Flying start<br>BBC Children in Need<br>Street Games<br>Capital expenditure<br>Volunteering Wales<br>Millennium Trust<br>Liberation Project<br>024285 Active Inclusion<br>Messy Monsters Day Nursery<br>Kickstart<br>WCVA Covid-19 Recovery Fund<br>Communities for Work Plus<br>Heritage Lottery Fund<br>Food 4 All<br>RCT Youth Capital Grant<br>**TOTAL FUNDS**|At 1.4.21<br>£<br>256,966<br>-<br>4,456<br>1,500<br>384,573<br>2,246<br>2,660<br>747<br>-<br>4,456<br>21,268<br>50,555<br>-<br>-<br>-<br>-<br>472,461<br>729,427|Net<br>movement<br>in funds<br>£<br>(33,312)<br>25,147<br>(4,456)<br>-<br>(80,506)<br>-<br>-<br>-<br>1,792<br>3,847<br>4,977<br>(40,216)<br>(65)<br>6,687<br>13,647<br>5,860<br>(63,286)<br>(96,598)|Transfers<br>between<br>funds<br>£<br>56,954<br>(25,147)<br>-<br>-<br>37,268<br>(2,246)<br>-<br>-<br>-<br>(8,303)<br>(26,245)<br>(10,339)<br>65<br>(2,500)<br>(13,647)<br>(5,860)<br>(56,954)<br>-|At<br>31.3.22<br>£<br>280,608<br>-<br>-<br>1,500<br>341,335<br>-<br>2,660<br>747<br>1,792<br>-<br>-<br>-<br>-<br>4,187<br>-<br>-|
|---|---|---|---|---|
|||||352,221|
|||||632,829|



Page 19 

continued... 



## **GILFACH GOCH COMMUNITY ASSOCIATION LIMITED** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** 

## **18. MOVEMENT IN FUNDS - continued** 

Comparative net movement in funds, included in the above are as follows: 

|**Unrestricted funds**<br>General fund<br>**Restricted funds**<br>Fframwaith - RCT Play<br>Flying start<br>BBC Children in Need<br>Capital expenditure<br>024285 Active Inclusion<br>Messy Monsters Day Nursery<br>BBC Children in Need (Grant 2)<br>Kickstart<br>WCVA Covid-19 Recovery Fund<br>Communities for Work Plus<br>WCVA Doorstep Challenge<br>RCT Wellbeing Support Project<br>Heritage Lottery Fund<br>Food 4 All<br>BAVO Carers Project<br>Interlink Winter Pressures<br>RCT Parent + Toddler<br>RCT Youth Capital Grant<br>**TOTAL FUNDS**|Incoming<br>resources<br>£<br>105,352<br>32,513<br>107,477<br>-<br>-<br>127,069<br>79,290<br>55,410<br>151,526<br>-<br>84,155<br>23,610<br>3,375<br>10,500<br>40,000<br>13,277<br>8,310<br>1,000<br>5,860<br>743,372<br>848,724|Resources<br>Movement<br>expended<br>in funds<br>£<br>£<br>(138,664)<br>(33,312)<br>(32,513)<br>-<br>(82,330)<br>25,147<br>(4,456)<br>(4,456)<br>(80,506)<br>(80,506)<br>(125,277)<br>1,792<br>(75,443)<br>3,847<br>(55,410)<br>-<br>(146,549)<br>4,977<br>(40,216)<br>(40,216)<br>(84,220)<br>(65)<br>(23,610)<br>-<br>(3,375)<br>-<br>(3,813)<br>6,687<br>(26,353)<br>13,647<br>(13,277)<br>-<br>(8,310)<br>-<br>(1,000)<br>-<br>-<br>5,860<br>(806,658)<br>(63,286)<br>(945,322)<br>(96,598)|
|---|---|---|



Page 20 

continued... 



## **GILFACH GOCH COMMUNITY ASSOCIATION LIMITED** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** 

## **18. MOVEMENT IN FUNDS - continued** 

A current year 12 months and prior year 12 months combined position is as follows: 

|**Unrestricted funds**<br>General fund<br>**Restricted funds**<br>Fframwaith - RCT Play<br>Flying start<br>BBC Children in Need<br>Street Games<br>Capital expenditure<br>Volunteering Wales<br>Millennium Trust<br>Liberation Project<br>024285 Active Inclusion<br>Messy Monsters Day Nursery<br>Big Lottery<br>Kickstart<br>WCVA Covid-19 Recovery Fund<br>Communities for Work Plus<br>Heritage Lottery Fund<br>Food 4 All<br>RCT Youth Capital Grant<br>Share Prosperity Fund<br>Interlink Taff Ely Windfarm - Cookery<br>Projects<br>Interlink RCT - Eco Warriors<br>**TOTAL FUNDS**|At 1.4.21<br>£<br>256,966<br>-<br>-<br>4,456<br>1,500<br>384,573<br>2,246<br>2,660<br>747<br>-<br>4,456<br>-<br>21,268<br>50,555<br>-<br>-<br>-<br>-<br>-<br>-<br>-<br>472,461<br>729,427|Net<br>movement<br>in funds<br>£<br>(189,768)<br>14,804<br>30,241<br>(4,456)<br>-<br>(148,653)<br>-<br>-<br>-<br>7,643<br>22,955<br>19,353<br>12,291<br>(40,216)<br>(65)<br>3,320<br>13,647<br>5,860<br>399<br>500<br>925<br>(61,452)<br>(251,220)|Transfers<br>between<br>funds<br>£<br>111,664<br>(14,804)<br>(30,241)<br>-<br>-<br>37,268<br>(2,246)<br>-<br>(747)<br>(7,643)<br>(27,411)<br>-<br>(33,559)<br>(10,339)<br>65<br>(2,500)<br>(13,647)<br>(5,860)<br>-<br>-<br>-<br>(111,664)<br>-|At<br>31.3.23<br>£<br>178,862<br>-<br>-<br>-<br>1,500<br>273,188<br>-<br>2,660<br>-<br>-<br>-<br>19,353<br>-<br>-<br>-<br>820<br>-<br>-<br>399<br>500<br>925|
|---|---|---|---|---|
|||||299,345|
|||||478,207|



Page 21 

continued... 



## **GILFACH GOCH COMMUNITY ASSOCIATION LIMITED** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** 

## **18. MOVEMENT IN FUNDS - continued** 

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: 

||Incoming|Resources|Movement|
|---|---|---|---|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund||||
||182,376|(372,144)|(189,768)|
|**Restricted funds**||||
|Fframwaith - RCT Play|98,504|(83,700)|14,804|
|Flying start|194,548|(164,307)|30,241|
|BBC Children in Need|-|(4,456)|(4,456)|
|Capital expenditure|-|(148,653)|(148,653)|
|024285 Active Inclusion|210,473|(202,830)|7,643|
|Messy Monsters Day Nursery|192,709|(169,754)|22,955|
|Big Lottery|21,915|(2,562)|19,353|
|BBC Children in Need (Grant 2)|56,910|(56,910)|-|
|Kickstart|223,619|(211,328)|12,291|
|WCVA Covid-19 Recovery Fund|-|(40,216)|(40,216)|
|Communities for Work Plus|164,204|(164,269)|(65)|
|WCVA Doorstep Challenge|23,610|(23,610)|-|
|RCT Wellbeing Support Project|3,375|(3,375)|-|
|Heritage Lottery Fund|10,500|(7,180)|3,320|
|Food 4 All|40,000|(26,353)|13,647|
|BAVO Carers Project|13,277|(13,277)|-|
|Interlink Winter Pressures|8,310|(8,310)|-|
|RCT Parent + Toddler|1,000|(1,000)|-|
|RCT Youth Capital Grant|5,860|-|5,860|
|Neighbourhood Network Grant|1,000|(1,000)|-|
|RCT Together|2,000|(2,000)|-|
|Share Prosperity Fund|10,590|(10,191)|399|
|Trevallis|1,000|(1,000)|-|
|Interlink Taff Ely Windfarm - Cookery||||
|Projects|500|-|500|
|Interlink RCT - Eco Warriors|925|-|925|
||1,284,829|(1,346,281)|(61,452)|
|**TOTAL FUNDS**|1,467,205|(1,718,425)|(251,220)|



## **Fframwaith - RCT Play** 

RCT Play (formerly known as Fframwaith) funding is received via Rhondda Cynon Taf County Borough Council to support playschemes and after-school club sessions for children aged between 5 - 11 years. 

## **Communities for Work Plus (C4W+)** 

Communities for Work Plus provides specialist employment advisory support to people who are either in or at risk of poverty who are not eligible for other regional programmes funded by the European Social Fund, and who have complex barriers to employment and training opportunities.Communities for Work Plus provides support to help to build confidence, gain work experience, learn new skills or re-write participants CV's. Communities for Work Plus will help individuals and meet with participants in their local community. 

## **Flying Start** 

Flying Start funding was awarded to run the Welsh Government's Flying Start provision for 2 to 3 year olds. The amount awarded covers the cost of providing the provision within Gilfach Goch and includes staff costs, venue and activity costs. The programme ran under this funding until August 2014 however, from September 2014, the way in which the programme is funded has changed. The funding is now provided per child place. The relevant costs of delivering the programme are paid from this allocated amount. 

## **Street Games** 

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**GILFACH GOCH COMMUNITY ASSOCIATION LIMITED** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** 

## **18. MOVEMENT IN FUNDS - continued** 

Street Games funding was awarded to cover the cost of session workers and equipment to enable the Association to deliver sporting activities for children and young people in order to improve their physical wellbeing. 

## **Active Inclusion 024285 - Future Steps 16-24yrs** 

The project engages and supports young people to build confidence, develop new skills and overcome barriers to employment. Participants are given supported employment opportunities for 16 hrs per week for 16 weeks. Participants are encouraged and supported to gain the necessary employment skills to gain independent employment on completion of the project. 

## **Volunteering Wales Grant** 

Funding awarded form the Welsh Government to promote and improve volunteering in Wales. The aim of the scheme is to improve access to volunteering for people of all ages and from all parts of society. 

## **Kickstart** 

This funding was awarded in order for us to create supported employment posts for 25 hours per week for a period of 26 weeks. Funding covered the salary of participants and set up costs which has been used to employ a coordinator and provide training. 

## **Heritage Lottery** 

This grant has benefitted the surrounding areas of the centre with the development of 2 wildflower meadows, 12 native trees and 8 fruit trees planted as well as approx. 1000 native bulbs. We also had 2 interpretation boards installed and a bench for people to sit and enjoy the project. There was money for volunteer training and the purchase of capital items such as strimmer’s and a lawn mower including all associated PPE. 

## **Neighbourhood Network Grant** 

A What's on leaflet was produced and distributed in local area of Taff Ely West to inform community members of activities available and to ensure all organisations around the area had opportunity to promote their services. 

## **RCT Together** 

The funding was secured to cover costs such as the purchasing of tea/coffee/milk, newspapers, board games and food so that anyone coming in to access our classes or use our warm hub, would be able to keep themselves busy with the pre-existing activities or just use our rooms to watch tv, listen to the radio, read etc. Winter Warm packs were also provided for those in greatest need, including items such as blankets, hat & gloves, hot water bottles. We also provided a free library for people to borrow and donate books as well as a clothes/blanket swap shop for taking and donating. 

## **Shared Prosperity Fund** 

The overall aim of this project was to improve the lives of the community members of Gilfach Goch & surrounding areas by providing activities, giving access to a community space and providing home care packs so the health & wellbeing of all beneficiaries is improved regardless of what they get involved in and for how long. We ran various sessions including Arts & Crafts, Fitness class, Pottery, Knit & Natter, Men's Shed, Cooking class, Bingo with an 11 hour daily warm hub open for anyone providing daily newspapers, board & card games, tea and coffee. Warm packs and health & wellbeing packs were also provided to those accessing our services but also those who were housebound. These packs consisted of items such as hat & gloves, dressing gown & blanket, slippers, jumpers. We also purchased arts & craft materials, wool for the knitting, pottery clay & glazes and cooking ingredients. The funding was also used to employ a sessional worker to deliver the activities. 

## **Trivallis** 

Items were purchased for Health &Wellbeing packs and Winter Warmer packs. The winter warmer packs will provide items for people to keep warm such as hat, gloves, dressing gown, slippers etc. The Health & Wellbeing packs consisted of toiletry items along with towels etc, items for people to be able to maintain their health and Wellbeing.  All packs were available for all ages in need. 

## **Interlink Taff Ely Windfarm - Winter Warmers** 

The funding was used to provide community members with warm packs (Blankets/hats/gloves etc). Provide open access to all in the community who find themselves in need and provide access to our Warm Hub where daily newspapers, board and card games, puzzle books etc are available. 

## **Interlink Taff Ely Windfarm - Cookery Projects** 

The Cookery project was designed after consultation with the Afterschool Club and Youth Club members. A 12-week programme with both the ASC and YC was delivered. The Aim of the projects was to develop new skills in a safe and controlled environment, to learn and gain a greater understanding of healthy eating and cooking on a budget. 

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## **GILFACH GOCH COMMUNITY ASSOCIATION LIMITED** 

## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023** 

## **18. MOVEMENT IN FUNDS - continued** 

## **Interlink RCT - Small cost of living grant - Winter Warmers** 

This funding was used to purchase items to make up winter warm packs for community members. In conjunction with us being a Warm Space community members could attend the provision, keep warm and have access to daily newspapers, board and card games, puzzle books etc during the days and during the evenings we provided them with items to stay equally warm in their homes. The funding was also used to supply, where needed, outdoor clothing such as hoodies, jumpers, rain jackets etc as well as indoors items such as small duvet, warm drinks, travel mugs. 

## **Interlink RCT - Eco Warriors** 

The Youth Eco Warrior project was applied for by the youth members of GGCA, the aim of the project was to create and develop an outside space to grow their own vegetables. The youth members also volunteered during playscheme and afterschool to enhance the knowledge and understanding of the younger children. The youth members also worked in partnership with other community groups and users in the centre. (Men's shed, disability group and allotment project) 

## **Transfers between funds** 

The transfers between funds between 1st April 2022 and 31st March 2023 were as follows: 

|**£**<br>**Description**|**From fund**|**To fund**|
|---|---|---|
|14,804<br>Transfer underspend to general as allowable|Framwaith RCT Play|General|
|by funder.|||
|5,094<br>Transfer underspend to general as allowable|Flying Start|General|
|by funder.|||
|747<br>Transfer underspend to general as allowable|Liberation Project|General|
|by funder.|||
|7,643<br>Transfer underspend to general, project|024285 Active Inclusion|General|
|finished in December 2022|||
|19,108<br>Transfer to general from Messy Monsters Day|Messy Monsters Day Nursery|General|
|Nursery|||
|7,314<br>Transfer to general, project finished in|Kickstart|General|
|September|||



## **19. RELATED PARTY TRANSACTIONS** 

Red Valley Enterprises CIC is a 100% subsidiary of Gilfach Goch Community Association Limited. The charity charged its subsidiary £30,000 (2022: £76,100) in management charges during the year. 

At 31st March 2023 the amount owed by the subsidiary to Gilfach Goch Community Association was £43,000 (2022: £Nil). This amount represents the donation from the subsidiary. 

Within the year to the 31st March 2023, Gilfach Goch Community Association made a grant to Red Valley Enterprises CIC of £Nil (2022: £8,310) in order for the Company to offer continued support to the Charity in the roll out of projects. 

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## **GILFACH GOCH COMMUNITY ASSOCIATION LIMITED** 

## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023** 

|**INCOME AND ENDOWMENTS**<br>**Donations and legacies**<br>Donations<br>**Other trading activities**<br>Management charges<br>**Charitable activities**<br>Grants<br>**Other income**<br>Other income<br>**Total incoming resources**<br>**EXPENDITURE**<br>**Charitable activities**<br>Wages<br>Insurance<br>Other costs<br>Materials and activities<br>Repairs and cleaning<br>Rent and office costs<br>Bank charges<br>Depn of short leasehold<br>Depn of fixtures and fittings<br>Grants to institutions<br>**Support costs**<br>**Administration**<br>Wages<br>Travel and subsistence<br>Office administration<br>Legal and professional fees<br>**Information technology**<br>Computer costs<br>Loss on sale of tangible fixed assets<br>**Support costs**<br>Audit and accountancy<br>Total resources expended<br>**Net expenditure**|2023<br>£<br>46,578<br>30,000<br>428,038<br>113,865<br>618,481<br>362,144<br>3,930<br>7,068<br>117,674<br>8,159<br>3,134<br>559<br>57,865<br>18,968<br>-<br>579,501<br>174,023<br>2,112<br>5,988<br>3,217<br>185,340<br>-<br>-<br>-<br>8,262<br>773,103<br>(154,622)|2022<br>£<br>7,987<br>76,100<br>651,478<br>113,159<br>848,724<br>536,766<br>3,580<br>7,381<br>109,973<br>13,639<br>3,877<br>2,124<br>70,504<br>7,656<br>8,310<br>763,810<br>148,058<br>2,084<br>4,954<br>1,320<br>156,416<br>3,260<br>9,773<br>13,033<br>12,063<br>945,322<br>(96,598)|
|---|---|---|



This page does not form part of the statutory financial statements 

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