Charity registration number 1078396 Company registration number 3869839 (England and Wales) BEACON CENTRE TRUST (CARDIFF) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
BEACON CENTRE TRUST (CARDIFF) CONTENTS Page Trustees, report Independent examinerfs report ststement of financial activities Balance sheet Notes to the financial statements 9-21
BEACON CENTRE TRUST (CARDIFF) TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annual report and financial statements for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to Ihe financial statements and comply wilh the charity's goveming document, 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 1021 {effective 1 January 2019)" Objectives and activities Centre Trust {Cardiffj operates the Beacon Centre, an independent community building located in the heart of St Mellons, East Cardiff. Our vision is to see our community grow in confidence, purpose and resilience. Our mission is to work with local partners to provide spaces and opportunities where local peop can share their ideas, resources, and skills to empower each other, improve their wellbeing, and build community together. Our vision and mission reflect the purposes of the charity set out in the objects Contain in its memorandum of association as follows.. 1. To promote the benefit of the inhabitants of St Mellons, Cardiff and the Suound1ng areas without distinction of sex, sexual orientation, ra or of political religious or other opinions, by associating together the said inhabitants and the local authorities. voluntary and other organisations in a common efforl to advan education and provide facilities in the interest of social welfare for recreation and leisure-time occupation with the object of improving the conditions of life for the said inhabitants. 2. To establish or secure the establishment of a neighbourhood centre and to maintain and manage the same (whether alone or in co-operation with any local authority or other person or body) in furtherance of these objectives. 3. The advancement of the Christian religion. 4. To promote such other charitable purposes as may from time to time be detemiined. In accordance with our purposes our main activities during the year have been: Partnership building and transition For several years we have been building a partnership wilh Here for Good Collective ICIO}, operating locally as Hope St Mellons {"HSM"I. In recognition of the fact that- the charitable objects of Beacon Centre Trust (Cardiff) and HSM were substantially similar, and., HSM was better placed to deliver those objects. being well supported by the community, rapidly developing its activities, and with greater resources and financial sustainability- the trustees resolved to transfer all assets and liabilities to HSM. In accordance with that resolution, we have focussed our resources this year on preparing for this transfer. By ensuring a smooth transition we aimed to ensure that our common purposes and activities for the public benefit were maintained and increased. Providing high quality childcare Fledglings Playgroup Ltd is wholly owned by Beacon Centre Trust (Cardiff). Operating under the prestigious Flying Start programme, a small team of highly eXperiend staff provide free childcare services to 32 disadvantaged families from the local community. The nursery is highly thought of in the community. Fledglings also provides childcare under the 30 hours childGare scheme and has some fee paying spaces for local residents.
BEACON CENTRE TRUST (CARDIFF) TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Providing affordable spaces for charities, community groups, and small local businesses The Cenlre continued to support our local economy by providing affordable premises for several lo1 organisations. We further strengthened our partnership with Here for Good Collective (operating as Hope St Mellons), supporting them to host a number of activities at the Centre including St Mellons Pantry (which provides low-cost food to around 50 households in the community), Gardening Club (which improves wellbeing and reduces isolation through a community garden), and Nature Club (which supports local people, particularly families, to experience a variety of outdoor and nature related activities). East Cardiff School of Performing Arts continue to use Ihe Centre, providing low cost performing arts classes to local children, and also run a toddler group from the Centre. Improving spiritual wellbeing We continued to provide spaces that encourage spiritual wellbeing. including accommodating the Beacon Church congregation on Sundays, and their activities during the week. We facilitate a number of activities that improve spiritual wellbeing, including yoga, nature Glubs, gardening and crafl. Providing essential community services The Centre's tenants include a comer shop and hairdressers. Working with Hope St Mellons, we have facilitated Goffee momings, craft clubs, nature clubs, Gultivated a community garden led by volunteers and provided space for drop-in sessions for advice regarding all sorts of matters. Public benefit The Trustees Gonfirm that they have referred to the Charity Commission's general guidance on publiG benefit when reviewing the Charily'sAims and Objectives. All our charitable activities focus on the provision of spaS and opportunities for people to improve their social, physical, emotional, and spiritual wellbeing and are undertaken to ftjrther our charitable purposes ft)r the public benefit. Our services are open to the public regardless of age, disability, gender reassignment, malage and civil partnership, pregnancy and matemity. race, religion or belief, sex. and sexual orientation. Given the social impact of our work, we believe it is not only of benefit to those who use our services directly, but also b the wider Gommunity. Achievements and perfomiance Beacon Centre Trust Icardrff) was established in 1999 by a local church leader who recognised the disproportionate levels of poverty and disadvantage being experienced by residents of the St Mellons community in East Cardiff. A key objective of the Trust was realised when the Beacon Centre was opened in 2005. 2023-2024 has seen an increase in activity in the Centre, and a wider variety of activities and services available to the members of the community. Classes include Tai Chi. yoga and crafts as well as coffee mornings and stay and play toddler group with breastfeeding peer support. We have had ongoing maintenance work happening in the building, including extensive work to the kitchen to make it safer, more user friendly and of a high standard. A new alami and security system has been installed giving grealer flexibility to users and resulting in fewer faulty alami calls. External lighting has also been installed making the centre safer, especially during the dark evenings. The Centre continued to provide spaS for small local businesses {who in turn provided ServIS and employment opportunities to the local community) and local churches and community groups (who provide opportunities for connection, personal development, and improved wellbeing).
BEACON CENTRE TRUST (CARDIFF) TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Financial review The Ststement of Financial Activities shows totsl income of £68,387 (2023.. £75,263) and total expenditure of £94,378 (2023= £94,194) giving an overall deficit for the year of £25,991 {2023.' £18,931 deficit). However an unrestricted surplus (before transfers) of £4.985 has been generated (2023: surplus £6,879). Restricted funds are £752,231 (2023: £783,207), while unrestricted reserves are £133,384 (2023: £128,399). The free reserves of the charity are £43,020 (2023.. £35,267). Reserves policy The Board of Trustees continues to review the charity's requirements for reserves in light of the main risks to the organisation. Our policy aims to establish unrestricted funds not invested in tangible assets at a level equivalent to three months, running costs, which equates to £13,562 as per the budget for 2024125. Free reserves which are unrestricted reserves not designated or tied up in fixed assets amount to £43,020 as at 31 March 2024. Risk Management The Trustees recognise that they within their free reserves target. They are putting plans in place so that free reseNes are built up further. Once all assets and liabilities have been Iransferred to HSM. we aim to wind up BCT. This will likely happen during 2025. The trustees have focussed on providing a Centre that is welcoming and safe to use and have used wr close working relationship with Hope St Mellons and olher tenanls to ensure the space is being used lo its full potential. The Trustees acknowledge that there is a risk that income generated from the building might decrease over time. We assess this risk to be 'low' based on the number of enquiries we receive from organisations seeking spaces to hire for both the short and long term. We are confident that any income loss will be short tem and relatively easy to replace. We also acknowledge the risk of operating costs increasing. We assess this risk to be 'medium' due to rising energy, utilities and suppliers, costs. Several of these contracts are coming to an end in 2024125 and we aim to secure better value for money. particularly in waste disposal, cleaning. broadband and telephony. We are also confident that the imminent recruitment of a Facilities Manager will enable us to identify and resolve building maintenance issues at an earlier stage before they become costly to resolve. Structure, governance and management Governing document Beacon Centre Trust ICardifQ is a company limited by guarantee (incorporated on 2 November 19991 and a charity registered in England and Wales (registered on 30 November 1999}. The company was established under a Memorandum of Association which established the objects and powers of the company and is now governed by its Articles of Association. In the event of Ihe company being wound up, members are required to contribute an amount not exceeding £1. Recruitment and appointment of trustees The Board of Trustees are directors of the company and also charity trustees for the purposes of tharity law and under the company's Articles are known as the Management Committee. Under the requirements of the Memorandum and Articles of Association. all members of the Board. induding co-opted members, must retire from Offi at each Annual General Meeting, but may stand for re-election. The Board may comprise no less than 4 and no more than 9 people. In addition. the Board may appoint one co-opted member lo represenl Cardiff Council, should Cardiff Council so wish. and one c(>opted member to represent the local community. The Board may also appoint two additional co-opted members. Members may be elected to the Board of Trustees at the Annual General Meeting or by a decision of the Trustees.
BEACON CENTRE TRUST (CARDIFF) TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Board members have a range of skills and experience including financial, govemance, and management expertise. To ensure the Board maintsins an appropriate skills base, annual skills audits are Carri oul. Recruitment to the Board is through open advertisement or by invitation. followed by a period of observation and an inteieW. The offiGers of the Board of Trustees {Chair, Treasurer. and Secretary) are elected at the Annual General Meeting. Statement of major risks faced and mitigating actions The Trustees have assessed the major risks to which Ihe charity is exposed and are satisfied that systems are in place to mitigate exposure to them.
BEACON CENTRE TRUST (CARDIFF) TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Reference and administrative details Charity name Beacon Centre Trust Icardiffj Charity registration number 1078396 Principle and registered office The Beacon Centre Harrison Drive Cardiff CF3 OPJ Trustees Dr Katherine Browne (Chair) Simon Brown Liesa Nottle (Treasurer) Chris Atherton Secretary Christopher Atherton Independent Examiners Azets Audit Services TyDe Lime Tree Court Cardiff Gate Business Park Cardiff CF23 8AB The trustees. report was approved by the Board of Trustees. Katherine Browne - Trustee Dated.. 23 December 2024
BEACON CENTRE TRUST (CARDIFF) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BEACON CENTRE TRUST (CARDIFF) I report to the trustees on my examination of the financial statements of Beacon Centre Trust (Cardiffj {the charity} for the year ended 31 March 2024. Responsibilities and basis of report As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance wth the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied myself that the financial statements of the charity 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 the charity's financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directsons given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examinerfs statement I have completed my examination. I confimi that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect- accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or the financial statements do not accord wth those records; or the financial statements 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 consided as part of an independent examination- or the financial statements have not been prepared in accordance wth the methods and principles of the Statement of Recommended practi for accounting and reporting by charities applicable to charities preparing their accounts in accordance wth 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 financial statements to be reached. A z&5 A.,,& Craig Yearsley FCCA Azets Audit Services Ty Derw, Lime Tree Court Cardiff Gate Business Park Cardiff CF23 8AB United Kingdom Dated: 23 tlecember 2024
BEACON CENTRE TRUST (CARDIFF) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Notes Income from: Donations and legacies Charitable activities 4,704 63.683 4,704 63.683 8,241 65,022 8,241 67.022 2,000 Total income 68.387 68.387 73.263 2,000 75.263 enditure on: Charitable activities 63.402 30.976 94.378 66,384 27,810 94.194 Gross transfers beeen funds Net incomel(expenditure) for the yearl Net movement in funds 42,159 (42,159) 4,985 {30.976) (25,991) 49,038 (67,969) (18,931) Fund balances at 1 April 2023 128,399 783,207 911.606 79,361 851,176 930,537 Fund balances at 31 March 2024 133,384 752,231 885,615 128,399 783,207 911,606 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies viith the requirements for an income and expenditure account under the Companies Act 2006.
BEACON CENTRE TRUST (CARDIFF) BALANCE SHEET ASAT31 MARCH 2024 2024 2023 Notes Fixed assets Tangible assets Investments 11 12 842,595 1,000 862,006 1,000 843,595 863,006 Current assets Debtors Cash at bank and in hand 14 3.450 40.730 2.587 51,400 44.180 53,987 Creditors: amounts falling due within one year 15 (2.160) (5.387) Net current assets 42,020 48,600 Total assets less current liabilities 885,615 911,606 Income funds Restricted funds Unrestricted funds Designated funds General unrestricted funds 16 752,231 783,207 17 90.364 43,020 93,132 35,267 133,384 128,399 885,615 911,606 The Gompany is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small Gompanies regime. The financial statements were approved by the Trustees on . 23 December 2024 Katherine Browne- Trustee Company Registration No. 3869839
BEACON CENTRE TRUST (CARDIFF) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charity information Beacon Centre Trust (Cardiffj is a private company limited by guarantee incorporated in England and Wales. The registered office is The Beacon Centre, Harrison Drive, St. Mellons, Cardiff, CF3 OPJ, Uniled Kingdom. 1.1 Accounting convention The financial statements have been prepared in accordance wlh the charitys governing document, 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 2019).. The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterfing, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial ststements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. These accounts represent the results of the charity only and do not incorporate the results of its subsidiary due to the combined values of the entities not meeting the limits for consolidation. 1.2 Going concem The trustees have expressed their intentions to wind up the charity and transfer all their funds and assets to another charity. The trustees have signed a reciprocal resolution with Here for Good Collective CIO (registered charity 1202371). At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate reSourS to wntinue in operational existen for the foreseeable future. Thus the twstees continue to adopt the going concem basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Designated funds comprise funds which have been set aside at the discretion of the tnjstees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements. Restricted funds are subject to specific conditions by donors as lo how they may be used. The purwses and uses of the restricted funds are set out in the notes to the financial statements. 1.4 Income Income is recognised when the charity is legally entitled to it after any performan conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation. unless perf0mlan conditions require deferral of the amount. Income tax recoverable in relation to donations reiVed under Gift Aid or deeds of covenant is recognised at the time of the donation.
BEACON CENTRE TRUST (CARDIFF) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) Fees and supplies income is recognised in the period in which the service relates to. Grants receivable are treated in different ways dependent upon their purposes and the terms of the grant. Grants receivable for the specific purpose of purchasing fixed assets for the continued use of the charity are treated as restricted funds. The restricted fund is then redUd by amounts equivalent to the depreciation charges on the assets concerned and will continue to do so over the expected useful lives of the assets concerned. Grants receivable for specific purposes are also treated as restricted funds so that any unused funds can be separately identified. Grants receivable to facilitate the general running of Ihe charity for example where the trustees can Ghoose how the funds are expended, are treated as unrestricted funds. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity- this is normally upon notification of the interest paid or payable by the bank. 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party. 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 classified by activity. The costs of each activity are made up of the total of dIrt costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned belween those activitEs on a basis consistent with the use of resources. Central staff costs are allocaled on Ihe basis of time spent, and depreciation charges are allocated on the portion of the asset's use. Expenditure includes VAT as the charity is not VAT registered" therefore VAT is reported as part of the expenditure to which il relates. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such actimties and those costs of an indirect nature necessary to support them. Govemance costs include those costs associated with meeting the constitution and statutory requirements of the charity and include audit fees and costs linked to the strategic management of the charity. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation. net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Land and buildings Fumiture and equipment 2°/0 Straight line 20°/0 reducing balance The gain or loss arising on the disposal of an asset is determined as the difference beeen the sale proceeds and the carrying value of the assel, and is recognised in the ststement of financial activities. 10-
BEACON CENTRE TRUST (CARDIFF) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) 1.7 Fixed asset investments Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomel(expenditure) for the year. Transaction costs are expensed as incurred. A subsidiary is an entity controlled by the charity. Control is the power to govem the financial and operating policies of the entity so as to obtain benefits from its activities. 1.8 Impairment of fixed assets At each reporting end date. the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). 1.9 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.10 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments. and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charitys balance sheet when the charity becomes paty to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets BasiG financial assets, which include debtors and cash and bank balances, are initially measured a transaction pri including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Finanaal assets classified as receivable within one year are not amortised. Derecognition of financial assets Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity. or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another paty that is able to sell the asset in its entirety to an unrelated third party. 11
BEACON CENTRE TRUST (CARDIFF) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction. where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rale method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if paymenl is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. Critical accounting estimates and judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and undertying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects (lY that period. or in the period of the revision and future periods where the revision affects both current and future periods. Donations and legacies Unrestricted Unrestricted funds funds 2024 2023 Donations and gifts 4,704 8,241 12-
BEACON CENTRE TRUST (CARDIFF) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charitable activities 2024 2023 Fees and supplies Grants 63,683 65,022 2,000 63,683 67,022 Analysis by fund Unrestricted funds Restricted funds 63,683 65,022 2,000 Grants Period Povety Grant 2,000 2,000 13-
BEACON CENTRE TRUST (CARDIFF) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charitable activities 2024 2023 Depreciation and impaimient Advertising and promotion Establishment costs and office expenses Repairs and maintenan Subscriptions and donations Sundry Bank charges Project costs 28,649 28,853 460 31,096 13,933 3,757 2,335 342 1,516 17,432 29,054 4,426 2,241 278 82,080 82,292 Grant funding of activities (see note 6) Share of governance costs (see note 7) 10,000 2,298 10,000 1,902 94,378 94,194 Analysis by fund Unrestricted funds Restricted funds 63,402 30,976 66,384 27,810 94,378 94,194 Grants payable 2024 2023 Grants to institutions= Here for Good Collective 10,000 10,000 14-
BEACON CENTRE TRUST (CARDIFF) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support costs Support Governance costs costs 2024Support costs Governance costs 2023 Independent examination fees Legal and professional 2.298 2.298 1,782 120 1,782 120 2.298 2.298 1,902 1,902 Analysed between Charitable activities 2,298 2.298 1,902 1,902 Governance costs includes payments to the independent examiners of £2,160 {2023- £1,782) for independent examination fees. Trustees None of the trustees {or any persons connected with them} received any remuneration or benefits from the charity during the year or prior year. 2 trustees claimed expenses in the current year totslling £1.356 (2023= £nil)- Employees The average monthly number of employees during the yearwas: 2024 Number 2023 Number Total Employees earning > £60,000 There were no employees whose annual remuneration was £60.000 or more during the current or prior period. Key management personnel The trustees are deemed to be key management personnel. The trustees are not remunerated for their roles as trustees. 10 Taxation The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 15-
BEACON CENTRE TRUST (CARDIFF) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 11 Tangible fixed assets Land and Furniture and buildings equipment Total Cost At 1 April 2023 Additions 1,314,674 82,669 9,240 1,397,343 9,240 At 31 March 2024 1,314,674 91,909 1,406,583 Depreciation and impairment At 1 April 2023 Depreciation charged in the year 462,911 26.293 72,428 2,356 535,339 28,649 At 31 March 2024 489.204 74.784 563,988 Carrying amount At 31 March 2024 825.470 17,125 842,595 At 31 March 2023 851,764 10,242 862,006 12 Fixed asset investments Other investments Cost or valuation At 1 April 2023 & 31 March 2024 1,000 Carrying amount At 31 March 2024 1,000 At 31 March 2023 1,000 2024 2023 Other investments comprise.. Notes Investments in subsidiaries 13 1,000 1,000 16-
BEACON CENTRE TRUST (CARDIFF) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Subsidiaries These financial statements are separate charity financial statements for Beacon Centre Trust (Cardiff). As the income of the group falls below the relevant thresholds consolidated accounts have not been prepared. Details of the charity's subsidiaries at 31 March 2024 are as follows.. Name of undertaking Registered oITice Nature of business Class of shares held Yo Held Direct Indirect Fledgling's Playgroup Limited United Kingdom Child day care Ordinary 100.00 The year end of Fledgling's Playgroup Limited is 31 August. The aggregate capital and reserves and the result for the year ended 31 August 2023 of subsidiaries excluded from consolidation was as follows.. Name of undertaking ProfiU(Loss) Capital and Reserves Fledgling's Playgroup Limited (309) (285) 14 Debtors 2024 2023 Amounts falling due within one year: Trade debtors 3,450 2,587 15 Creditors." amounts falling due within one year 2024 2023 Accruals and deferred income 2,160 5,387 17-
BEACON CENTRE TRUST (CARDIFF) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 Restricted funds The income funds of the charity include restricted funds comprising the following unexpended balanS of donations and grants held on trust for specific purposes= Movement in funds Incoming Re$our¢e$ resources expended Balance al 1 April 2022 Transfers Balan¢e at 1 April 2023 Re$our¢¢$ Balance at expended 31 March 2024 Building project Kitchen extension Period Poverty Grant WWHA 831,110 {26,293) (26,293) 778,524 (26,293) 752,231 15,866 (15,866) 2.000 (1.517) 483 4,200 {483) (4,200) 4.200 851.176 2.000 {27.810) (42,159) 783,207 (30,976) 752,231 Building project Relates lo funding received for the building (which was expended fully in the construction of the building} of which depreciation and others costs are being released against the balance each year. Kitchen extension Relates to funding reiVed for the kitchen extension (which was expended fully in the construction of the kitchen extension) of which depreciation and others costs are being released against the balance each year. Period Poverty Grant Relates to funding from Cardiff Council to provide free period products and reusable products to local community members. WWHA Relates to funding for youth lounge which will be expended in 2023124. Transfers Transfers relate to capital items purchased where the funding conditions have been fulfilled on purchase of such capital items. 18-
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BEACON CENTRE TRUST (CARDIFF) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Related party transactions Transactions with related parties During the year the charity entered into the following transactions with related parties- Fledgling's Playgroup Limited Fledgling's Playgroup Limited is a subsidiary of the charity. The charity charged the company rent totslling= £11,000 (2023= £12,000). The charity received a £400 donation during the year (2023: £nil). The charity also received £nil (2023.. £5,093) as a donation in relation to the company's taxable profits. At the current and prior year end the charity were owed £nil from Fledgling's Playgroup Limited. The charity also loaned Fledging's £20,013 during the year for payroll costs. This was paid back in full during the year and there are no amounts outstanding at Ihe year end. Here for Good Collective During the year the charity gave a grant totalling £10,000 (2023- £10,000) to Here for Good Collective which is a Gharity registered with the Charity Commission in England and Wales. The charity also received £4,900 for Room Hire from Here for Good Collective. The charities are related by common trustees. 21