REGISTERED COMPANY NUMBER: 03233495 (England and Wales) Tae ees Se REGISTERED CHARITY NUMBER: 1070802 SA ey et A
a REPORT OF THE TRUSTEES AND eet ere, aed UNAUDITED FINANCIAL STATEMENTS Pe i ea ne FOR THE YEAR ENDED 31 MARCH 2024 mee Se coh ee Ce
FOR ll es GILFACH GOCH COMMUNITY ASSOCIATION 2 eS al! en LIMITED phi Pana sam
Bevan Buckland LLP Chartered Accountants Fo pene TENS Ground Floor Cardigan House GAT tae - Castle Court =e Swansea Enterprise Park Ss. Swansea wv my Maa SA79LA 5
GILFACH GOCH COMMUNITY ASSOCIATION LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
| Page | ||
|---|---|---|
| Report of the Trustees | 1 | **to7 ** |
| Independent Examiner's Report | 8 | |
| Statement of Financial Activities | 9 | |
| Balance Sheet | 10 | |
| Cash Flow Statement | 11 | |
| Notes to the Cash Flow Statement | 12 | |
| Notes to the Financial Statements | 13 | 13 to26 |
| Detailed Statement of Financial Activities | 27 |
GILFACH GOCH COMMUNITY ASSOCIATION oS ea ea LIMITED reahe
REPORT OF THE TRUSTEES Sa 2 a FOR THE YEAR ENDED 31 MARCH 2024 Mecoeei a ay
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the ie 3a! t as ‘49 =! = toe we ee be financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their eee= | eea“) Gorn 25 Goes 2 eSSS ge SES eens BS cee | i ( effective 1 January 2019). me ee ¥ oe * nae tre Poe eres a on ae ee Poa a ae el
Accountability and Governance Setaeer HE“ The Board of Trustees are pleased to present the Annual Report for the year ending 31 March 2024 together with the ait ae organisations financial statements which have been prepared in order to meet the requirements for a directors' report and aeRS accounts for Companies Act (2006) purposes. ier Ty7aeee Penaee 7 ace CeWaee of eeeeaee ae ee. 7 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 ae a owt |S ee a ae Pet ey Se renee Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance ee tt Frethe with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015). TeELhy AL ieeeRS esTT ae Adae PeesewSartiereie beeee ee Aa,al eee =owt te-penehae | aaa Board of Trustees / Company Directors. The principal activity of the company is 'to promote any charitable purpose for the Gilfach Goch Community Association is a company limited by guarantee and a registered charity which is managed by a ie Fsiatns ti ee pe Fs le ats At Sete | pas benefit of the community in Gilfach Goch and in particular the advancement of education, the promotion of good health and rot or Foren mel whats args ; eeeween ef aeao eee)te the relief of poverty, distress and sickness'. tecoeee PeeTe bdfan eeon oe ee ate See! meet oe es diverse knowledge, understanding and skill set in a range of areas within the voluntary sector, ensuring all the work carried The Trustees / Directors comprise of representation from a diverse background. Between the Board Members, there is a ay eea ee eea ae iee ee an
out is done so in accordance with the organisations objectives. They ensure the needs of the community are being met and Blt : The oo,[<a][ig][iat] oe[Cys] aS Fa[ rete] Se Pe[Os][Te]
that all services, projects, classes, courses and activities are inclusive for people of all ages and abilities. Their combined bee Fan Ten[ae][rte][ Saget] fe ba Bt
knowledge, expertise and understanding of the voluntary sector enables good governance of the organisation including iP Sway7 2,PS on See 4PeSFee)a eeeeee PaSS Fr | © Seema!ee As SeeMS Shel 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 egaeee principles of public life). Under the rules of the Charity's Constitution, the Trustees / Directors are known as the ynese Management Committee. ey[pels] #545[a][ ee] (0 afreRe wa; AyeseeeeOy ikeeaoe Xe wetCestim [oll om BadDew— In addition to the knowledge and skills of the existing Board Members, our organisation has the ability, under the rules laid a down in our Constitution, to draw on external expertise as and when required for the benefit of the organisation, its staff, ghee os A hoe poet ~ ot we See ee 3D Tig i oa det “Sioeada Foe ot a eran erp in 4p * pata AES a C, Sarr ae sessional workers, volunteers and communities we work in. The Board of Trustees has delegated all day to day a management responsibilities of Gilfach Goch Community Association and its social enterprise arm Red Valley Enterprises to ee Pree oma F -. a ay eee: ee lye to ree poe en a Lee Se ee ee ek Re a oe - fet ay ae, a Pehle the Community Association Manager. She is supported by two senior managers and a knowledgeable, hard working staff Seen 2 a eeSe 0 ee ee Pel team.
voluntary, statutory and private sector ensuring services, projects, classes, courses and activities are relevant to the needs All work undertaken is the result of regular consultations within the communities we work, with partner organisations in the tele ne Vk tes al ols dB oe Se ee ce a nn ae
identified. With a commitment to ensuring all work is inclusive to all, special emphasis is afforded to marginalised groups natur = alee efron sys et Js 2S 9 te ne st re ‘ee Xe! ipaivyes! Ms seeks aes Se Fit tl SS reSe, a “7k re 1s and strengthening community cohesion. ea 9h eve Ee OL
The organisation is committed to addressing the climate change emergency and has recently been accredited with the “Sw! ot af hon ty LL Stee ph gm eet kt ee eS he Green Dragon Award. To further demonstrate the organisations commitment to tackling the climate emergency, the GGCA ies take action using various methods that serves to reduce the carbon emissions and contribute towards a net zero Wales. has developed a climate action project so that we can lead by example, educate and support the communities we work in to a») 2 petaBeiyoroldehanceCAs} a| a aesce bateJeint t'seaei oi. segsnomi1a a SEiy exesBE="SE ot cath| ieeems saleste Slseete meod Vela- OBJECTIVES AND ACTIVITIES Our Mission
Our Mission Statement, "to help bring out the best from the community, for the community, through consultation with the ke meee 7 ae a eei a ee 4 rees Wee,= oe he aAoley [OA8R4 ey a
community". we em tbh “a cat
Silane Our Values In essence, we ensure that all our projects, services, classes, courses and activities are being developed in line with the isso a i i .- " i nm! By eee whee , 2 | ar ml a er) a __ a i changing identified needs of the community. We do this by maximising the sustainability of our work through working ixcn collaboratively with other organisations and partners in order to build a resilient, cohesive and inclusive community. This = tees ana. ye Pcie Aeee ARms TEhEARad) SE neees RSa SST; 8 allows community members the ability to have a stake in their own future. Underpinning all the work we do is our ae hyeea commitment to the Equality Act (2010), the National Principles for Public Engagement in Wales and the Children and Young Se be eee See[Pee] ee eeee a People's National Participation Standards. We continue to demonstrate diversity, fairness, integrity, fue owe Teeth Tomes BA cee He OEtered we Me Bett,=e Ss,“Sig ee accountability, ater eeee, partnership and sustainability. es Ee ee Lk
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GILFACH GOCH COMMUNITY ASSOCIATION Ne ERSTE iy LIMITED fof A Sina Boal
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Sr MaaSs oY
a OBJECTIVES AND ACTIVITIES ee ee a Staff The organisation is very proud of its staff team and recognise that through their hard work, great things happen. = x Their dedication and loyalty have been key to ensuring the organisation continues to meet its objective. Their willingness to adapt es oeea Beneoe at PL2 oea = oe a= ad." 8omee5oeIk oeae! rereinarte2eleSo 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 Te aT we wee eee Feeney their post will continue to be funded in future. We are particularly proud of the fact that the our staff team chose to worked ee svmis deta Peale Crees Oe peelot Th candee De Notre CAS) tirelessly throughout the pandemic and continued to put the needs of others before there own needs, with all the staff going oe po ae ee eee eS oe a ee eS oe a over and above what was expected. oe is Volunteers C3 | Our success to date can be attributed to the hard work of our volunteers who with staff support, are able to establish, Wee RE develop and deliver needs-based services within the community and local surrounding areas. Through annual consultation, Peds MES SE LS te TSS AM TS, ee AWS RE regular monitoring and evaluation, we are able to ensure we have up to date information relating to the needs of the Be: community and that we are meeting these needs through the delivery of services. 5 oe BAIN.eeTE Mee Brute SeapetteBg ae& FStage te ta s eeoe eeee Pe,ie wriortan “et2 ee,4 6 Seed a With an excellent track record spanning 28 years, we continue working in disadvantaged areas with some of the most 4) ee ei ee SP et ea be al ee ee ee marginalised, vulnerable people. The organisation has earned itself an excellent reputation for engaging with and bePam supporting some of the hardest to reach community members and continues to make a positive difference to the lives of cet ahoghy “4 Tou pale rn ae ey = 3 Ce | Te osPO_ %& Bea Pty oe ee ad ee oe many. Our ability to recruit, train and develop volunteers has earned us the Investors in Volunteers Award on four Tees, occasions. hres Poa Re Pe ers, eeBe Sawaohe e ee udee P e d oka 4uY
eee Page2
fee GILFACH GOCH COMMUNITY ASSOCIATION ye aeS ei LIMITED ro
REPORT OF THE TRUSTEES ain Te 7 FOR THE YEAR ENDED 31 MARCH 2024 A ees Ge fe
ACHIEVEMENT AND PERFORMANCE pe , an hoe. "Gmteaatt Charitable activities rate ose . Review of activities and achievements, including associated public benefits
The Trustees confirm that they have referred to the Charity Commission's guidance on public benefit when reviewing the akLv A-FAss1 aHl ha—-tS eee EeSe Sp nea. FE et Se hey Se aims and objectives of the charity. During the year 1st April 2023 to 31st March 2024, the organisation continued to secure
monies through a combination of being commissioned to deliver frontline services, grant funding and donations. A number of ag ighaS orLs retake terreFs, Sh oe-ae patape ney ah peat. : Ls peer a aesPee Scrgl eeeresmee! oe ses successful applications enabled us to continue delivering a number of existing and new successful projects designed to eae es wy srvak Swe ei mit arena aca 2
enhance the lives of those we work with. ae a | ie a) - Pteee As a result of the Welsh Government's closure of the Communities First Programme in March 2018, a Legacy Fund was Communities for Work Plus eSted Chulee, inee fa 9 eeTst. “a “pre ee) ee eo created and for our region, this fund is managed by RCT Council. The Council have subsequently used some of this money i to commission us to deliver work clubs throughout several communities within RCT. Overall, there has been a reduction in FF tee eg es A has! a vat ata Co e n Ime Fae-ree™, en nes ES — ao oo Aen PA ahem Ai ee e ee funding from this income stream but we have negotiated how the reduction is managed in terms of delivery outcomes. ee a ig et ee eee Faees Staybe et erePe t
Managing a 'grass roots' programme which is heavily embedded with a 'top down' approach to delivery and monitoring, on a ae a es A tleetre verted dl pare. fem ene yer. 1 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 bie k sa = aries a a ; iets 4 Bh
Welsh Government and RCT Council. Many of the most vulnerable have therefore been further excluded. Me Jail ae 71 aT #. + i eS et, PO eee ee
As an organisation set up to help those most in need, it is worrying that narrowly focused programs are substantially a Pd an lag By Lat ved: ie aya, i a. eee) Se) Seer = p44 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 Peta ts Mee ie E42 aye a Teese 5 ae ene ro Fine target driven outcomes. This is something which does not sit comfortably with many voluntary sector organisations but nevertheless, something which the GGCA serves to manage well with support from other grant funding bodies. fax mates get =or e-aee aea, de e emoe Sehe ~ eeTT. SSas esin 4role Flying Start The Flying Start Programme has been delivered through our Messy Monsters childcare setting which continues to provide a ; \ Y=) a = = tad wa a ~ rl. a ie = r a ‘ ARS 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 geal Pie Pet oe Jace ra
a half hours a day, 5 days a week for 39 weeks. Our provision provides a clean, warm, friendly environment where the Pe eee Cae ot ce ee tg ay tot S aaekiedeeloes 9
children feel safe and secure and are stimulated to develop skills and increase confidence and self-esteem. Gisa tai ie esaeaewomeae ee? et Linked to child. foundation phase, it enables a seamless transition between the setting and school, filling some gaps in provision for the altars[Wk,] vw ae[SPER][lee][ans] 5[ |][el] Is _kes eea5 Se,’ “ise‘i ~ eles!teala im abt» At our Messy Monsters Childcare setting, the children are offered a broad curriculum of activities based on the Foundation r= aap 7 ete ieee a” ™ ew elOL cage ote gah al +. t <f9 ™° 2S" 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. = ke hen A JENA 3 “erage oe hace However, planned changes a ae re err may affect how the provision is delivered in the future as again, funds are expected to be reduced further despite the cost of Geeta bees ee er be Kean deal pe | anny COBY eat ard Pa ee eee RR of SIT DME, Seere a es living crisis that is looming. SO we a Toc With a Quality of Care Award issued by the Pre School Play Association and excellent CIW inspection reports, our provision ES Ch Say ORES FSS, Lael continues to offer children and their parents a high-quality setting with a dedicated team of staff. g oi bee: Tall.” ‘yu * Miswetheace(Nee eeeAomk a —eea7 ee ee” ee Full Day Child Care In addition to our Flying Start provision, we have addressed an ongoing barrier to employment for those who have struggled “Pl with childcare. In January 2020, we established a full day care provision for children aged 0-12 years. Opening 8am until eaereerRE Tp 2) i ee Eyres BT ae Ba Si fees cee Aa 6pm Monday to Friday, it provides affordable childcare, removing that barrier for parents returning to employment. This Scan 8 eta Pa egee iereeae al Aheee epteesana8iteeehohe} caineelPegESem 8 beseBS ‘>
provision is in high demand and we currently have long waiting lists. We are however in the process of ascertain ways which cemeee of <a a"' 7%We we can help address the waiting lists so as to support more people. a esa 5et mesa inaaydineaewut sy.Ak Se[ee]
Pup Page 3 4
GILFACH GOCH COMMUNITY ASSOCIATION A Tea Sy LIMITED ae —~hSS REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Ds geere.gs OeSwee
eat FINANCIAL REVIEW bee ' Going concern = ; | In going forward, Gilfach Goch Community Association continues to generate sufficient funds to cover all financial commitments. The organisation has reserves that are in line with the requirements of the Charities Commission. The ehh rae a YP building is compliant with the Disability Discrimination Act and Equality Act 2010. There are no litigations and nothing Pee ARE he outstanding either. We have a senior finance officer and a finance assistant who monitor the finances of the organisation Sioa and its' social enterprise arm. We have update financial software system which in essence doubled the workload this year. Kaltebetery feohopad OpeBs P e e tdsFaeMed omdIwate cateval i searPo 2scoe Menom mimeaaot es pM However, from April 2024, it will enable us to be more efficient within the finance department saving time and resources as ee Mt = rH ge toed pce Tees? a 7k S ko oe =. we move forward. Monthly financial reports are produced and submitted to the board of trustees. Finance is a permanent See. eon Pe] ete eee wey =r aa gf apes '. eh = - 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. ale. at ee= ee ee eea er 1
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GILFACH GOCH COMMUNITY ASSOCIATION ee ee LIMITED - =a
aL? REPORT OF THE TRUSTEES FATS FOR THE YEAR ENDED 31 MARCH 2024 te l,l ae
FINANCIAL REVIEW qaae i Lease ~ Our current lease agreement with RCT Council has just over 3 years remaining. However, due to the way in which our a.iin organisation is audited, the low number of years remaining on our lease is reflected in our Statement of Financial Activities. arti lett st Fleets eet | = rey on ek “a, wes Seesa
This means that it shows our expenditure as being substantially more than our income and this has a profound effect on our eee) PS ray ae le Ley eee abs By gases rE. ae Vp, asAS
ability to secure funding. However, the accounts are only produced in this way to take into account the depreciation rate of Son nF a a es, ae anh at oF 20 iiTkoe Gas. 2 el Slr eee ht 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 5 eT Re | ger ees dh 14 SPR SS ek Re ee 1Fie ee ft tay ate Baar ent pat 1 ge a abe ae oe | ee
agreeing a new 25 year lease with RCT council but due to staff changes within RCT Council, this is impacting on progress. oe une rows ee ges ae Neeebamta +'.2. Financial review ew + ae The main source of funding comes from a range of funding bodies and income donated back to the organisation from its social enterprise arm. et - ee; LL i— Py)© = ar,= Le=~ PEyyy SeFE2 iteoe |! in OA
Risks and Uncertainties Py et orls a) As with most charities, there is always an element of risk and uncertainty with regards to the future especially when the ee Se,a 2 ee Pe . Charity is predominantly reliant on grant funding. With regards to Gilfach Goch Community Association the risk would ee! Pere O67 5 eee) ee c primarily be due to the inability to secure grant funding for the main programme areas i.e. Children, young people and their bathe) ot re te vas. Ae. 5 tara A ee ions eon os A
families, older people, those with physical disabilities, mental health conditions and severe learning difficulties as well as rics ah . any ae = tx ro er ee Se reat See as Lat ra, carers, men, ex-offenders, those requiring employability support, offering a range of provision including food sustainability EE a(oPale aeslies bn) eh ERE lg mocrmarrsmity AAS BS ey and the tackling the pending cost of living crisis. Our main difficulties are related to securing funding for core elements of es EeWg ose STge oo seveevn poa a a ees! teeas pee &. yiee.a
DT our work. a Fy : One of our key strengths as an organisation is being able to form positive working relationships with individuals we support. =ee= ieeeeene k a ee)“ ee; er; tao -pork We do this by working with partner organisations, developing collaborative ways of working in order to enhance the
opportunities for community residents and groups, address gaps in provision and eliminate duplication of work. We have " bel3, a fie G3 Sree Share te Tenste : oral . eo successfully established a Neighbourhood Network which is chaired by the GGCA Operational Manager and involves >4 + Wiensa Pk1a eT baiei..."onii | aeasSlMelPant ah erasaad SieSheWeese! ter oA Susa4 ues aetate the work within the area, look at gaps in current provision and how we can fill those gaps so as to benefit those we support without duplication of services. meeting with a wide range of providers based in the Taff Ely area of RCT. The work enables all groups involved to identify ee eaeee Saritaiaoei eeneget, 1 zoLee + -a ” > Leeae 7ke Ct toteeae CaeoT eTnhet hiehe| f It is important to note that by investing in the refurbishment of the building and covering key posts, we enable the "y eepintes BERRA existing and new projects to continue and develop. It also ensures that community members are able to access classes, at organisation the ability to generate income from office rental and venue hire and allow further funding to be sourced for RE ST“Se aldeet Bee by ieee eeRT aedA I) Nase tprcisots EPS tek)eeDESpone) ie aesSey ap oe a iehyyt 2s Wee courses, services and activities in a safe, clean, warm and uplifting environment. The maintenance of the building will help us keep refurbishment costs down in future years and enable us the ability to establish and develop a number of new ule y eeae hm Te8 acre,ee eeI TEick. Pa Las)hate * thyes «1a Le nite aLA yaes er or al s projects which benefit people of all ages and abilities. 1 fut mm SE gd cy yates Lg ire Ty Bem onk I ara ee fark yea ee ee < dae, TPA Grant funding continues to be our main source of income along with income generated by our social enterprise activities. As ter aa em EA Si ed ee ec ae with all organisations similar to ours, there is never any guarantee that grant funding will continue. (aL ee” MJ eae se es Araoe area“ye Eee ee
The organisation is in a strong position moving forward to maximise its ability to generate income through social enterprise oe per mars 2 ie: oe plgs “may Scat ar wart a ee pe ee ee 7 2S and to secure grant funding despite the cost of living crisis that is looming. Our financial forecast for the forthcoming year shows we have enough funds to enable the organisation to continue operating. Although the uncertainties that emerge as re[5 Ae Ce eee Mag ee eeSees, BP ae a ¥ ee eee a A we move out of the pandemic may have a negative affect on us as an organisation, at this point in time, we can only monitor ak eg bed ats 7 eee Ge. Segepgliietps meget pg eggs a ee min ee
any potential risk. There are no other unforeseen risks to the organisation or its finances that we know of at this point in time. Zt Oe Tek cee Br Peeve chenSF DAT ES EE
unrestricted funds will be implemented during the next financial year. Expenditure in the forthcoming year has been planned in line with our existing level of funds and planned reductions in Peetujas oo ;ele Caker ie eee| oe7 se ‘ee! Ap<
The organisational and financial risk is regularly monitored and plans for the future always take this into account. eeeea ae A[ee][a] a et
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GILFACH GOCH COMMUNITY ASSOCIATION ieee Eees LIMITED FE<f oe
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 PeniAii e Lsreoe a aea meay
4S: PLANS FOR FUTURE PERIODS a Ph to: In order to continue working towards our objective in the context of current and future challenges we will continue Sil wageyry “see ee a us ®-Pena gr eg eee4 Fee dt‘ ies ST a i) SE o_o Provide a voice that ensures all sectors of the community are represented. Soul sto mee ogee Beit Related parties Lintew Red Valley Enterprises CIC is a registered Community Interest Company and the Social Enterprise arm of Gilfach Goch 4ier. Community Association. It was established in 2007 and has continually been developed in line with its objectives and the ee me outs= Berdeetat teFESete[ES] ta[Si] B b e nt 2% coeur fot Foes ate objectives of Gilfach Goch Community Association. The profits from Red Valley Enterprises CIC are gift aided each year to ob died 7b agai the Association to increase levels of unrestricted funds thus enabling the Charity to become less reliant on grant funding and ae siree. 7 ary mor us ae PacticsStWhe: Peters PPbera! & ee PLove ih to help aid the future sustainability of the organisation. fan wt7icles aTSePr ==a allaEl a ae ee Seen. Da Ph Red Valley Enterprise CIC - Achievements and Performance Sa Throughout the last financial year and despite the economic and political uncertainty and the cost of living crisis, Red Valley ET eeayoe eea Karseer te -eea i 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 navigate through the cost of living crisis, we are looking at ehi ‘ T= ner rant Fa gad. age 4 AD Re ee therod Poe + Her ie sivetee S155,oe The ways in which we can diversify the ways in which we generate income that can contribute towards supporting those we work Se eo ee FA r = me ide om ei ae Shae pal iy) = ol, with. This is of course all subject to any changes we may have to accommodate in the event of local or national ea5 oarkaa ey“ L’a iml bbe veeil “pe | “aarien atLita me—A ——~5+ meJc = a a iawn emergencies. Investment Powers, policy and performance (eA ee ee ee 7 Under the memorandum and articles of association, the charity has the power to make any investment which the directors ErMh fie and 3 BRE believe will be beneficial in terms of meeting the aims and objectives of the organisations. St Ul eS SoAE iment mtrSe Biles Fetes a Sereoe Pe hath |HT cen et ot Shel
ore Page6
GILFACH GOCH COMMUNITY ASSOCIATION LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
REFERENCE AND ADMINISTRATIVE DETAILS Legal and administrative information
| Charity Name | Gilfach Goch Community Association | Gilfach Goch Community Association |
|---|---|---|
| Company number | 03233495 | |
| Charity number | 1070802 | |
| Management Committee | Geunor Evans | Resigned 21/11/2023 |
| Allun Warren | ||
| Olive Francis | ||
| Hendrik Haye | ||
| Marilyn Hodge | ||
| Kay Leek Esther Williams |
Resigned 30/06/2023 | |
| Sylvia Scammell Janet Close |
Resigned 25/07/2023 Appointed 23/01/2024 |
|
| Registered Office | Cambrian Avenue Community Centre |
Cambrian Avenue Community |
| Cambrian Avenue | ||
| Porth | ||
| CF39 8TG | ||
| Company Secretary | Kate O'Sullivan | |
| Management Team | Kate O'Sullivan | Association Manager |
| Joanne Cook | Finance Officer | |
| Bankers | Barclays Bank Plc | |
| Leicester | ||
| L87 2BB | ||
| Santander UK Plc | ||
| Bootle | ||
| Merseyside | ||
| L30 4GB | ||
| Auditors | Bevan Buckland L LP | Bevan Buckland L LP |
| 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: 9 ( _( /L't |
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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 2024.
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').
Responsibilities and basis of report
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 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:
-
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
-
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
-
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.
Hi>
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 SA79LA Date: ... 9.LrkL?-. 't .. " ...... "".
Page 8
GILFACH GOCH COMMUNITY ASSOCIATION LIMITED
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||||
| Donations and legacies | 2 | 54,606 | 54,606 | 46,578 | |
| Charitable activities | 4 | ||||
| Grants and contracts | 6,132 | 290,143 | 296,275 | 428,038 | |
| Other trading activities | 3 | 30,000 | 30,000 | 30,000 | |
| Other income | 234 | 130,057 | 130,291 | 113,865 | |
| Total | 90,972 | 420,200 | 511,172 | 618,481 | |
| EXPENDITURE ON | |||||
| Charitable activities | 5 | ||||
| Expenditure on charitable activities | 202,620 | 454,865 | 657,485 | 773,103 | |
| NET INCOME/(EXPENDITURE) Transfers between funds |
17 | (111,648) 17,503 |
(34,665) (17,503) |
(146,313) | (154,622) |
| Net movement in funds | (94,145) | (52,168) | (146,313) | (154,622) | |
| RECONCILIATION OF FUNDS | |||||
| Total funds brought forward | 178,862 | 299,345 | 478,207 | 632,829 | |
| TOTAL FUNDS CARRIED FORWARD | 84,717 | 247,177 | 331,894 | 478,207 |
The notes form part of these financial statements
Page9
GILFACH GOCH COMMUNITY ASSOCIATION LIMITED
BALANCE SHEET 31 MARCH 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||
| funds | funds | funds | funds | ||
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible assets | 11 | 35,414 | 209,688 | 245,102 | 313,850 |
| Investments | 12 | 1 | 1 | 1 | |
| 35,415 | 209,688 | 245,103 | 313,851 | ||
| CURRENT ASSETS | |||||
| Debtors | 13 | 70,426 | 2,251 | 72,677 | 58,057 |
| Cash at bank and in hand | (12,159) | 106,238 | 94,079 | 153,110 | |
| 58,267 | 108,489 | 166,756 | 211,167 | ||
| CREDITORS | |||||
| Amounts falling due within one year | 14 | (8,966) | (70,999) | (79,965) | (46,811) |
| NET CURRENT ASSETS | 49,301 | 37,490 | 86,791 | 164,356 | |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 84,716 | 247,178 | 331,894 | 478,207 | |
| NET ASSETS | 84,716 | 247,178 | 331,894 | 478,207 | |
| FUNDS | 17 | ||||
| Unrestricted funds | 84,716 | 178,862 | |||
| Restricted funds | 247,178 | 299,345 | |||
| TOTAL FUNDS | 331,894 | 478,207 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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:
The notes form part of these financial statements
Page 10
GILFACH GOCH COMMUNITY ASSOCIATION LIMITED
| LIMITED | |||
|---|---|---|---|
| CASH FLOW STATEMENT | |||
| FOR THE YEAR ENDED 31 MARCH 2024 | FOR THE YEAR ENDED 31 MARCH 2024 | ||
| 2024 | 2023 | ||
| Notes | £ | £ | |
| Cash flows from operating activities | |||
| Cash generated from operations | 4 | (57,696) | (8,124) |
| Net cash used in operating activities | (57,696) | (8,124) | |
| Cash flows from investing activities | |||
| Purchase of tangible fixed assets | (1,335) | (1,983) | |
| Net cash used in investing activities | (1,335) | (1,983) | |
| Change in cash and cash equivalents in the reporting period |
Change in cash and cash equivalents in | (59,031) | (10,107) |
| Cash and cash equivalents at the beginning of the reporting period |
153,110 | 163,217 | |
| Cash and cash equivalents at the end of the reporting period |
Cash and cash equivalents at the end of | 94,079 | 153,110 |
The notes form part of these financial statements
Page 11
GILFACH GOCH COMMUNITY ASSOCIATION LIMITED
NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024
1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES
| RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES | RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES | |
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Net expenditure for the reporting period (as per the Statement of | ||
| Financial Activities) | (146,313) | (154,622) |
| Adjustments for: | ||
| Depreciation charges | 70,083 | 76,833 |
| (lncrease}/decrease in debtors | (16,083) | 100,070 |
| lncrease/(decrease) in creditors | 34,617 | (30,405) |
| Net cash usedinoperations | (57,696) | (8,124) |
2.
ANALYSIS OF CHANGES IN NET FUNDS
| At 1.4.23 | Cash flow | At 31.3.24 | |
| £ | £ | £ | |
| Net cash | |||
| Cash at bank and in hand | 153,110 | (59,031) | 94,079 |
| 153,110 | (59,031) | 94,079 | |
| Debt | |||
| Debts falling due within 1 year | (13,694) | 1,463 | (12,231) |
| (13,694) | 1,463 | (12,231 ) | |
| Total | 139,416 | (57,568) | 81,848 |
The notes form part of these financial statements
Page 12
GILFACH GOCH COMMUNITY ASSOCIATION . SSS Sse So LIMITED _-*
NOTES TO THE FINANCIAL STATEMENTS TS I oe eT FOR THE YEAR ENDED 31 MARCH 2024 ae Sfp a gl Ps
1. ACCOUNTING POLICIES te L ) oe
eas prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement ofThe financial statements of the charitable company, which is a public benefit entity under FRS 102, have been Basis of preparing the financial statements Teee teers eSinf rreomt it) Os £7 aa Nel ot Nellie oe SePet AS yy Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial ReportingRecommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Pe ee eeee ioa) Lee 4fre—reat; itar be | a" 5 pecans a7 an =_ —=s Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies ofrc Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of ma t sh5eacep, gta erCa ae? ad)sepa erin5 >ate rereof ory|BVT page Pee Gelade Ee investments which are included at market value. aS ren so SS reed ew Des Se, Bey” vee a Preparation of consolidated financial statements SF ‘se! woh ey ws 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 nook reais r ot ond Se te Se pea en ves rn oF SEIS. Cie Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements. esPere ae, eeh eh ee,eeeed, eea Reee — ae Perw no ahee Lue Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is Beg probable that the income will be received and the amount can be measured reliably. The following specific policies SAM Oe SUE i e .ecc eeee i e e fe Toeae SA; Sieg:Pe ee ee fos are applied to particular categories of income: a a rae r heave nf — i : a Grants, including grants for the purchase of fixed assets, are recognised in full in the Statement of Financial ee 4 pre ae Fre Pome nik[ee,] ee 2 Activities in the year which they are receivable. ee ste , : Investment income is included when receivable. ee Incoming resources from charitable trading activity are accounted for when earned. ee oe er ees
Expenditure and irrecoverable vat uae Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity ReSor atewzeex a4ee “’, “Tae - ir 2! Lf Ali aaA = et ——s— ee a ay to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount era a eee Ey ie ioe ig — As a See eS ee oe of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been split e See 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 kee eeBe eeeeeReee ee egeea eo wer =29 Pete, possible. Resources expended include attributable VAT which cannot be recovered. greoe tl eetee Sotee err ta ee“= & ee asoe" YM een a then —. Costs of raising funds a -er Tie The costs of raising funds are made up of a percentage of the Association Manager's time. Fy aos a | hewsatis at au Micra are! es Expenditure on charitable activities ee Expenditure on charitable activities include grants made, governance and support costs. Ce eS ae e eeerisee ee eeF es. Tangible fixed assets* eee Hae. - - ; Fixed assets are stated at cost less accumulated depreciation. The costs of minor additions costing below £1000 are “Sov ooo Miade the not capitalised. TESS, teh ent cl ee, Le ee See oe Depreciation is provided at rates calculated to write ieRae ae Oe i De off the cost of each asset over its expected useful life as follows: ee en a et eee eee: Be ae Ca yy Leasehold property mt Peat Straight line over length of lease eS ee Fixtures, fittings and equipment 20% reducing balance ea een Sls = ond
Fixed asset investments SO | Sa eed] ber Fixed asset investments are the shares in the trading subsidiary company which are shown at cost. a= arama oan are ter ee ee ey ee et Taxation S The charity is exempt from corporation tax on its charitable activities. ienaety Sererwpe rer ln =e ala
Fund accounting = tet er
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. a ie! Ses SSS ae ne ae
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Piast Nat Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Tee e aes tnae gigSeekmomsaeeonAeN ee d eyea er e a e eepg icaaentateeaeeal garnieelgee
Page 13 a continued ... Jae
GILFACH GOCH COMMUNITY ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
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
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Donations | 41,886 | 46,578 |
| Donated services and facilities | 12,720 | |
| 54,606 | 46,578 | |
| --- |
Included within donations is £41,000 (2023: £43,000) donated from Red Valley Enterprises CIC, the trading subsidiary of GGCA.
3.
OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Management charges | 30,000 | 30,000 |
| --- | --- |
Page 14
continued ...
GILFACH GOCH COMMUNITY ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS • continued FOR THE YEAR ENDED 31 MARCH 2024
4. INCOME FROM CHARITABLE ACTIVITIES
| 2024 | 2023 | ||
|---|---|---|---|
| Activity | £ | £ | |
| Grants | Grants and contracts | 296,275 | 428,038 |
| Grants received, included in the above, are as follows: | |||
| 2024 | 2023 | ||
| £ | £ | ||
| Fframwaith - RCT Play | 65,991 | ||
| Flying Start | 68,075 | 87,071 | |
| 024285 Active Inclusion | 83,404 | ||
| Big Lottery Kickstart |
65,744 | 21,915 72,093 |
|
| Communities for Work Plus | 80,049 | ||
| RCT Youth Capital Grant | 8,775 | ||
| C4W+ | 80,049 | ||
| Neighbourhood Network Grant | 1,000 | ||
| RCT Play | 21,006 | ||
| RCT Together | 2,000 | 2,000 | |
| Shared Prosperity Fund | 1,000 | 10,590 | |
| Trevallis | 500 | 1,000 | |
| Interlink Taff Ely Windfarm - Winter Warmers | 500 | ||
| Interlink Taff Ely Windfarm - Cookery Projects | 500 | ||
| 1 Interlink RCT • Small cost of living grant - Winter Warmers | 1,000 | 1,000 | |
| Interlink RCT • Eco Warriors | 925 | ||
| Creative spaces | 2,000 | ||
| Gilfach Goch Community council | Gilfach Goch Community council | 1,882 | |
| Landfill disposal tax communities scheme N Netwrok grant • We support everyone benefits RCT fo d support network |
39,994 1,000 1,000 |
||
| RCT winter hardship funds | 2,000 | ||
| NEA Event | 250 | ||
| 296,275 | 428,038 |
| 5. | CHARITABLE ACTIVITIES COSTS | |||
|---|---|---|---|---|
| Support | ||||
| Direct | costs (see | |||
| Costs | note 6) | Totals | ||
| £ | £ | £ | ||
| Expenditure on charitable activities | 462,187 | 195,298 | 657,485 |
Page 15
continued ...
GILFACH GOCH COMMUNITY ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS· continued FOR THE YEAR ENDED 31 MARCH 2024
6. SUPPORT COSTS
7.
| Support | |||
|---|---|---|---|
| Administration | costs | Totals | |
| £ | £ | £ | |
| Expenditure on charitable activities | 189,368 | 5,930 | 195,298 |
| NET INCOME/(EXPENDITURE) | |||
| Net income/(expenditure) is stated after charging/(crediting): | |||
| 2024 | 2023 | ||
| £ | £ | ||
| Depreciation - owned assets | 70,083 | 76,833 |
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
9. STAFF COSTS
| STAFF COSTS | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Wages and salaries | 427,007 | 536,167 |
| 427,007 | 536,167 | |
| The average monthly number of employees during the year was as follows: | ||
| 2024 | 2023 | |
| Project staff Support staff |
17 8 |
27 8 |
| 25 | 35 |
No employees received emoluments in excess of £60,000.
10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | Restricted | Total | |
|---|---|---|---|
| funds | funds | funds | |
| £ | £ | £ | |
| INCOME AND ENDOWMENTS FROM | |||
| Donations and legacies | 46,578 | 46,578 | |
| Charitable activities | |||
| Grants and contracts | 428,038 | 428,038 | |
| Other trading activities | 30,000 | 30,000 | |
| Other income | 446 | 113,419 | 113,865 |
| Total | 77,024 | 541,457 | 618,481 |
EXPENDITURE ON
Page 16
continued ...
GILFACH GOCH COMMUNITY ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024
| NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 |
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 |
|||
|---|---|---|---|---|
| 10. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- continued | |||
| Unrestricted | Restricted | Total | ||
| funds | funds | funds | ||
| £ | £ | £ | ||
| Charitable activities | ||||
| Expenditure on charitable activities | 233,480 | 539,623 | 773,103 | |
| NET INCOME/(EXPENDITURE) Transfers between funds |
(156,456) 54,710 |
1,834 (54,710) |
(154,622) | |
| Net movement in funds | (101,746) | (52,876) | (154,622) | |
| RECONCILIATION OF FUNDS | ||||
| Total funds brought forward | 280,608 | 352,221 | 632,829 | |
| TOTAL FUNDS CARRIED FORWARD | 178,862 | 299,345 | 478,207 | |
| 11. | TANGIBLE FIXED ASSETS | |||
| Fixtures | ||||
| Short | and | |||
| leasehold | fittings | Totals | ||
| £ | £ | £ | ||
| COST | ||||
| At 1 April 2023 | 1,359,626 | 223,177 | 1,582,803 | |
| Additions | 1,335 | 1,335 | ||
| At 31 March 2024 | 1,359,626 | 224,512 | 1,584,138 | |
| DEPRECIATION | ||||
| At 1 April 2023 | 1,083,191 | 185,762 | 1,268,953 | |
| Charge for year | 57,865 | 12,218 | 70,083 | |
| At 31 March 2024 | 1,141,056 | 197,980 | 1,339,036 | |
| NET BOOK VALUE | ||||
| At 31 March 2024 | 218,570 | 26,532 | 245,102 | |
| At 31 March 2023 | 276,435 | 37,415 | 313,850 |
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 6 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 f o tprint of the building. This matter will be rectified when the new lease is signed.
continued ...
Page 17
GILFACH GOCH COMMUNITY ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS -continued FOR THE YEAR ENDED 31 MARCH 2024
12. FIXED ASSET INVESTMENTS
| 12. | FIXED ASSET INVESTMENTS | ||
|---|---|---|---|
| Shares in | |||
| group | |||
| undertakings | |||
| £ | |||
| MARKET VALUE | |||
| At 1 April 2023 and 31 March 2024 | 4 | ||
| NET BOOK VALUE | |||
| At 31 March 2024 | 1 | ||
| At 31 March 2023 | 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: | |||
| Red Valley Enterprises CIC Registered office: United Kingdom |
|||
| % | |||
| Class of share: | holding | ||
| Ordinary shares | 100 | ||
| 31.3.24 | 31.3.23 | ||
| £ | £ | ||
| Aggregate capital and reserves | 4,032 | 3,713 | |
| Profit for the year | 319 | 323 | |
| 13. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Other debtors | 66,561 | 52,736 | |
| Prepayments and accrued income | 6,116 | 5,321 | |
| 72,677 | 58,057 | ||
| 14. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Other loans (see note 15) | 12,231 | 13,694 | |
| Trade creditors | 33,938 | 2,234 | |
| Social security and other taxes | 860 | ||
| Other creditors | 2,716 | 7,782 | |
| Accruals and deferred income | 30,220 | 23,101 | |
| 79,965 | 46,811 |
continued ...
Page 18
GILFACH GOCH COMMUNITY ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
15. LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand: Other loans
| 2024 | 2023 |
|---|---|
| £ | £ |
| 12,231 | 13,694 |
| -- | -- |
16. LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Within one year | 1,098 | 948 |
| Between one and five years | 553 | |
| 1,098 | 1,501 |
17. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | ||||
|---|---|---|---|---|
| Net | Transfers | |||
| movement | between | At | ||
| At 1.4.23 | in funds | funds | 31.3.24 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | ||||
| 178,862 | (112,463) | 17,503 | 83,902 | |
| GGCC - Unrestricted | 814 | 814 | ||
| 178,862 | (111,649) | 17,503 | 84,716 | |
| Restricted funds | ||||
| Flying start | (3,420) | 3,420 | ||
| Street Games | 1,500 | (463) | (1,037) | |
| RCT Youth | 1,060 | (1,060) | ||
| Capital expenditure | 273,188 | (64,568) | 208,620 | |
| Millennium Trust | 2,660 | (2,660) | ||
| Messy Monsters Day Nursery | 10,318 | (10,318) | ||
| Big Lottery | 19,353 | (15,289) | 4,064 | |
| Heritage Lottery Fund | 820 | (820) | ||
| RCT Youth Capital Grant | 278 | (278) | ||
| RCT play | 6,343 | (6,343) | ||
| Share Prosperity Fund | 399 | (399) | ||
| Interlink Taff Ely Windfarm - Cookery | ||||
| Projects | 500 | (167) | (333) | |
| Interlink RCT - Eco Warriors | 925 | (590) | (335) | |
| Landfill disposal tax communities scheme | 39,994 | 39,994 | ||
| Grantscapes | (5,000) | {5,000) | ||
| Community Dementia Prevention | ||||
| Programme | (500) | (500) | ||
| 299,345 | (34,664) | (17,503) | 247,178 | |
| TOTAL FUNDS | 478,207 | (146,313) | 331,894 |
continued ...
Page 19
GILFACH GOCH COMMUNITY ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024
17. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | |||
| 89,090 | (201,553) | (112,463) | |
| GGCC - Unrestricted | 1,882 | (1,068) | 814 |
| 90,972 | (202,621) | (111,649) | |
| Restricted funds | |||
| Flying start | 68,075 | (71,495) | (3,420) |
| Street Games | (463) | (463) | |
| RCT Youth | 8,775 | (7,715) | 1,060 |
| Capital expenditure | (64,568) | (64,568) | |
| Millennium Trust | (2,660) | (2,660) | |
| Messy Monsters Day Nursery | 130,057 | (119,739) | 10,318 |
| Big Lottery | 65,744 | (81,033) | (15,289) |
| RCT Youth Capital Grant | 278 | 278 | |
| C4W+ | 80,049 | (80,049) | |
| RCT play | 21,006 | (14,663) | 6,343 |
| RCT Together | 2,000 | (2,000) | |
| Share Prosperity Fund | 1,000 | (1,000) | |
| Trevallis Interlink Taff Ely Windfarm - Cookery |
500 | (500) | |
| Projects | (167) | (167) | |
| Interlink RCT - Small Cost of Living Grant | |||
| (Winter Warmers) | 1,000 | (1,000) | |
| Interlink RCT - Eco Warriors | (590) | (590) | |
| Landfill disposal tax communities scheme | 39,994 | 39,994 | |
| N Network grant we support everyone | |||
| benefits | 1,000 | (1,000) | |
| RCT food support network | 1,000 | (1,000) | |
| Grantscapes | (5,000) | (5,000) | |
| Community Dementia Prevention | |||
| Programme | (500) | (500) | |
| 420,200 | (454,864) | (34,664) | |
| TOTAL FUNDS | 511,172 | (657,485) | (146,313) |
continued ...
Page 20
GILFACH GOCH COMMUNITY ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS· continued FOR THE YEAR ENDED 31 MARCH 2024
17. MOVEMENT IN FUNDS • continued
Comparatives for movement in funds
| Comparatives for movement in funds | ||||
|---|---|---|---|---|
| Net | Transfers | |||
| movement | between | At | ||
| At 1.4.22 | in funds | funds | 31.3.23 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | ||||
| 280,608 | (156,456) | 54,710 | 178,862 | |
| Restricted funds | ||||
| Fframwaith - RCT Play | 14,804 | (14,804) | ||
| Flying start | 5,094 | (5,094) | ||
| Street Games | 1,500 | 1,500 | ||
| Capital expenditure | 341,335 | (68,147) | 273,188 | |
| Millennium Trust | 2,660 | 2,660 | ||
| Liberation Project | 747 | (747) | ||
| 024285 Active Inclusion | 1,792 | 5,851 | (7,643) | |
| Messy Monsters Day Nursery | 19,108 | (19,108) | ||
| Big Lottery | 19,353 | 19,353 | ||
| Kickstart | 7,314 | (7,314) | ||
| Heritage Lottery Fund | 4,187 | (3,367) | 820 | |
| Share Prosperity Fund | 399 | 399 | ||
| Interlink Taff Ely Windfarm - Cookery | ||||
| Projects | 500 | 500 | ||
| Interlink RCT - Eco Warriors | 925 | 925 | ||
| 352,221 | 1,834 | (54,710) | 299,345 | |
| TOTAL FUNDS | 632,829 | (154,622) | 478,207 |
Page 21
continued ...
GILFACH GOCH COMMUNITY ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024
17. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | |||
| 77,024 | (233,480) | (156,456) | |
| Restricted funds | |||
| Fframwaith - RCT Play | 65,991 | (51,187) | 14,804 |
| Flying start | 87,071 | (81,977) | 5,094 |
| Capital expenditure | (68,147) | (68,147) | |
| 024285 Active Inclusion Messy Monsters Day Nursery |
83,404 113,419 |
(77,553) (94,311) |
5,851 19,108 |
| Big Lottery | 21,915 | (2,562) | 19,353 |
| BBC Children in Need (Grant 2) Kickstart |
1,500 72,093 |
(1,500) (64,779) |
7,314 |
| Communities for Work Plus | 80,049 | (80,049) | |
| Heritage Lottery Fund | (3,367) | (3,367) | |
| 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 | |
| 541,457 | (539,623) | 1,834 | |
| TOTAL FUNDS | 618,481 | (773,103) | (154,622) |
Page 22
continued ...
GILFACH GOCH COMMUNITY ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
17. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| A current year 12 months and prior year 12 months combined position is as follows: | A current year 12 months and prior year 12 months combined position is as follows: | A current year 12 months and prior year 12 months combined position is as follows: | ||
|---|---|---|---|---|
| Net | Transfers | |||
| movement | between | At | ||
| At 1.4.22 | in funds | funds | 31.3.24 | |
| £ | £ | £ | £ | |
| Unrestricted funds | ||||
| General fund | ||||
| 280,608 | (268,919} | 72,213 | 83,902 | |
| GGCC - Unrestricted | 814 | 814 | ||
| 280,608 | (268,105) | 72,213 | 84,716 | |
| Restricted funds | ||||
| Fframwaith - RCT Play | 14,804 | (14,804} | ||
| Flying start | 1,674 | (1,674} | ||
| Street Games | 1,500 | (463} | (1,037} | |
| RCT Youth | 1,060 | (1,060} | ||
| Capital expenditure | 341,335 | (132,715} | 208,620 | |
| Millennium Trust | 2,660 | (2,660} | ||
| Liberation Project | 747 | (747} | ||
| 024285 Active Inclusion | 1,792 | 5,851 | (7,643} | |
| Messy Monsters Day Nursery | 29,426 | (29,426} | ||
| Big Lottery Kickstart Heritage Lottery Fund |
4,187 | 4,064 7,314 (3,367} |
(7,314} (820} |
4,064 |
| RCT Youth Capital Grant | 278 | (278} | ||
| RCT play | 6,343 | (6,343} | ||
| Share Prosperity Fund Interlink Taff Ely Windfarm - Cookery Projects |
399 333 |
(399} (333} |
||
| Interlink RCT - Eco Warriors | 335 | (335} | ||
| Landfill disposal tax communities scheme | 39,994 | 39,994 | ||
| Grantscapes | (5,000} | (5,000} | ||
| Community Dementia Prevention | ||||
| Programme | (500} | (500} | ||
| 352,221 | (32,830} | (72,213} | 247,178 | |
| TOTAL FUNDS | 632,829 | (300,935} | 331,894 |
Page 23
continued ...
GILFACH GOCH COMMUNITY ASSOCIATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024
17. 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:
| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are follows: |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are | A current year 12 months and prior year 12 months combined net movement in funds, included in the above are | A current year 12 months and prior year 12 months combined net movement in funds, included in the above are |
|---|---|---|---|
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | |||
| 166,114 | (435,033) | (268,919) | |
| GGCC - Unrestricted | 1,882 | (1,068) | 814 |
| 167,996 | (436,101) | (268,105) | |
| Restricted funds | |||
| Fframwaith - RCT Play | 65,991 | (51,187) | 14,804 |
| Flying start | 155,146 | (153,472) | 1,674 |
| Street Games | (463) | (463) | |
| RCTYouth | 8,775 | (7,715) | 1,060 |
| Capital expenditure | (132,715) | (132,715) | |
| Millennium Trust | (2,660) | (2,660) | |
| 024285 Active Inclusion | 83,404 | (77,553) | 5,851 |
| Messy Monsters Day Nursery | 243,476 | (214,050) | 29,426 |
| Big Lottery | 87,659 | (83,595) | 4,064 |
| BBC Children in Need (Grant 2) | 1,500 | (1,500) | |
| Kickstart | 72,093 | (64,779) | 7,314 |
| Communities for Work Plus | 80,049 | (80,049) | |
| Heritage Lottery Fund | (3,367) | (3,367) | |
| RCT Youth Capital Grant | 278 | 278 | |
| C4W+ | 80,049 | (80,049) | |
| Neighbourhood Network Grant | 1,000 | (1,000) | |
| RCT play | 21,006 | (14,663) | 6,343 |
| RCT Together | 4,000 | (4,000) | |
| Share Prosperity Fund | 11,590 | (11,191) | 399 |
| Trevallis | 1,500 | (1,500) | |
| Interlink Taff Ely Windfarm - Cookery | |||
| Projects | 500 | (167) | 333 |
| Interlink RCT - Small Cost of Living Grant | |||
| (Winter Warmers) | 1,000 | (1,000) | |
| Interlink RCT - Eco Warriors | 925 | (590) | 335 |
| Landfill disposal tax communities scheme | 39,994 | 39,994 | |
| N Network grant we support everyone | |||
| benefits | 1,000 | (1,000) | |
| RCT food support network | 1,000 | (1,000) | |
| Grantscapes | (5,000) | (5,000) | |
| Community Dementia Prevention | |||
| Programme | (500) | (500) | |
| 961,657 | (994,487) | (32,830) | |
| TOTAL FUNDS | 1,129,653 | (1,430,588) | (300,935) |
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.
Page 24
continued ...
GILFACH GOCH COMMUNITY ASSOCIATION Swe yo es. oar LIMITED
NOTES TO THE FINANCIAL STATEMENTS- continued SS ae FOR THE YEAR ENDED 31 MARCH 2024 >| ae totein =e a. | a te Leena
17. i. MOVEMENT IN FUNDS - "a SS A continued eer ke
Communities for Work Plus (C4W+) = Communities for Work Plus provides specialist employment advisory support to people who are either in or at risk of a eer Pe peers eetaloe Se Se ae ee poverty who are not eligible for other regional programmes funded by the European Social Fund, and who have ee. 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 apane tis araLeRe —ee eteetee Soke es soeeea PeaeeLe ea Sosa teeve help individuals and meet with participants in their local community. = PredOS era | ft asapetd a 2 «a=Erasnet4) eye ee eS Se ES ee Flying Start Flying Start funding was awarded to run the Welsh Government's Flying Start provision for 2 to 3 year olds. The wheather amount awarded covers the cost of providing the provision within Gilfach Goch and includes staff costs, venue and oot gael tes Leena oe Fat? | be Oe ed Lote activity costs. The programme ran under this funding until August 2014 however, from September 2014, the way in walesSe ee F- oo aS vi tape ae “le which the programme is funded has changed. The funding is now provided per child place. The relevant costs of =¢*™ newt at oe be Pha Snes ee ty on Cave ay ees 2 fal delivering the programme are paid from this allocated amount. 1 Sea Eecar iat pe eyePek?Bm Je oSve | oe ae SE) LL Se Oe
Street Games 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. = 2 eee Co a A oe a EA Sa FS Lt FS tte ye OF MRE Be be tat at ST rt Whpee mee Fh
RCT Youth BLE ots Jen RCT Youth project is grants received to go towards the running costs of the youth programme. ee ee eee ie eee oe Heritage Lottery
This grant has benefitted the surrounding areas of the centre with the development of 2 wildflower meadows, 12 sine copingst %.)a Goto wo Oatet sPoutsied Mey
native trees and 8 fruit trees planted as well as approx. 1000 native bulbs. We also had 2 interpretation boards A 7 a | Pal a . installed and a bench for people to sit and enjoy the project. There was money for volunteer training and the RR ee atae eet athe Pee eerem rs.
purchase of capital items such as strimmer's and a lawn mower including all associated PPE. ge Keresa eeae recedeEP ereon tieneSs Oeoy umOFiateesaeoe eeee a S- &
RCT Parent and Toddler Grant 7 BB on ee The purchase of arts & crafts materials for the Lil Amigos group to use during their sessions. cee eSae eo oe See ee ee Landfill Disposal Tax communties scheme This grant is a 3 year funded project based around waste minimisation, working with staff, volunteers, children + wile Pl ate ek,eran youth and community members to promote waste minimisation in the context of the environment. The aim is to reduce the amount of waste going to landfill. SSS15 ed< a=aea= aee.= = = eetell a aeee ee ee=o fn = eeet SAi oeil. ee
Grantscapes aa ee This grant related towards the nursery ran on the GGCA site and provided General support costs for staff costs, ReRtgn gegen eg Ea oe eeviges Reewery eo V egdPaliy lupe,
flooring and play resourcesGeneral support costs for staff costs, flooring and play resources. aee hy STE oe
Community Dementia Prevention Programme Ste ae This was a workshop specific grant aimed at chair yoga and Zumba gold for community members to help with ee ee a Mo ae mare ba "on pyle Faken m fhet“ta ns oe aS SS dementia prevention through socialisation and exercise. Le Se ee ea
5 Creative spaces RCT RE a pe - "ales This was a grant aimed at the delivery of youth specific projects such as pyrography and DJ workshops. eas be and et ones Bd oe ere. ‘gumat oe cy ae a ee ell
Transfers between funds
TE The transfers between funds between 1st April 2023 and 31st March 2024 were as follows: ES, ee ae a i, ee ea a ae
£ Description From fund To fund aT 3,420 Transfer deficit due to funding period Pca ile het General Te ei. Flying start ee ending and the overspend not being neaek ee¢- at : == a pen recoverable Ao ee (1,037) a Transfer underspend to general as tle Street Games General : allowable by the funders (1,060) rs Same as above erigee tahoe RCT Youth General in (10,318) ay eon Same as above Messy Monsters rac General Wes ETc ae ak
ae continued ... ed
Page 25 aT
WE GILFACH GOCH COMMUNITY ASSOCIATION AAS ewe LIMITED tea fF
NOTES TO THE FINANCIAL STATEMENTS - continued Sat 8 SAC ba gre ie[nara,] ee FOR THE YEAR ENDED 31 MARCH 2024 a ee a ee - ee ee
6 17. MOVEMENT IN FUNDS- continued ee et ee
Transfers between funds - continued
(820) Same as above Heritage Lottery General rt (278) Pil fey Same as above t oe RCT youth Capital grant (hr= ul ‘ General insa (6,343) Same as above RCT Play General Same as above Share Propserity fund General Same as above Interlink Taff Ely General . =r ee _ = i) nae '. : — Widnfarm - Cookery ne i say projects fe freee Same as above a Interlink RCT - ECO ie er General to] eit warriors § (333) (399) (335)
18. RELATED PARTY TRANSACTIONS ea ce
charged its subsidiary £30,000 (2023: £30,000) in management charges during the year. Sta Red Valley Enterprises CIC is a 100% subsidiary of Gilfach Goch Community Association Limited. The charity eteWeerereSayOe+ SeleeeTarod SeSerPe eereer fer |oases aay At 31st March 2024 the amount owed by the subsidiary to Gilfach Goch Community Association was £41,120 (2023: lle) giy er ye pc pe fo 2 fay > Aak 7 re ~ £43,558). This amount represents the donation from the subsidiary.
Within the year to the 31st March 2024, Gilfach Goch Community Association made a grant to Red Valley nigel “SC I"5 Lae Ditty SE gee? _ | =r L * Let, Enterprises CIC of £41,000, (2023: £43,000) in order for the Company to offer continued support to the Charity in the
roll out of projects. woege RL
In the financial year Red Valley enterprises CIC gifted Gilfach Goch Community Association an in kind discount for be ete ct! een he) ay eer On8 ft A airte) firs ye 5 ie pe a the rent of premises to the value of £12,720 (2023:£Nil).
Page 26
GILFACH GOCH COMMUNITY ASSOCIATION LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 41,886 | 46,578 |
| Donated services and facilities | 12,720 | |
| 54,606 | 46,578 | |
| Other trading activities | ||
| Management charges | 30,000 | 30,000 |
| Charitable activities | ||
| Grants | 296,275 | 428,038 |
| Other income | ||
| Other income | 130,291 | 113,865 |
| Total incoming resources | 511,172 | 618,481 |
| EXPENDITURE | ||
| Charitable activities | ||
| Wages | 251,104 | 362,144 |
| Insurance | 4,087 | 3,930 |
| Other costs | 5,167 | 7,068 |
| Materials and activities | 116,710 | 117,674 |
| Repairs and cleaning | 12,866 | 8,159 |
| Rent and office costs | 702 | 3,134 |
| Bank charges Depn of short leasehold |
1,468 57,865 |
559 57,865 |
| Depn of fixtures and fittings | 12,218 | 18,968 |
| 462,187 | 579,501 | |
| Support costs | ||
| Administration | ||
| Wages | 175,903 | 174,023 |
| Travel and subsistence Office administration |
2,595 5,327 |
2,112 5,988 |
| Legal and professional fees | 5,543 | 3,217 |
| 189,368 | 185,340 | |
| Support costs | ||
| Audit and accountancy | 5,930 | 8,262 |
| Total resources expended | 657,485 | 773,103 |
| Net expenditure | (146,313) | (154,622) |
This page does not form part of the statutory financial statements
Page27