Chwity ryi5tralion number 1080314 C(xnpary rBglslrnti￿ nunthw 039536831England and Wales) SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD CONTENTS Chaim￿n'S statement Trustee8' report Independent examinerfs rwt Statement of Snaniial adniilies Balance sheet 10 Statemerrt of cash fAy 11 Notes to the fin￿￿al statements 12-32 SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 Chalr's report The cost-of-lrrfing crisis has stgy6canty dee￿ed poverty in Wdes. and its effe(a5 we profoundy felt in the communities we supp¢)rt. In Riverside, 55% of (*)iktren live in poverty, the highest proportion in Vweg. Many individuals in these coNnunities have fawity rnert￿ (aU￿t in confli(*s in pla￿S suth as Sudan. Uknne, and the Middle East. At SRCDC. we strive to stand alryNJe the com1r￿MilIeS Se￿e. guided by our str&egy to respond to Gurrent thallenges whk cornnmthg to txthlng a better fi￿re. This yEar, we were excited to welcome Nath￿ Evans as our new Owations Manager. Nath￿ hi5 role wilh great enthusiasm and (xeatrvty. nmking the lrnnstbon fed searnless. launched Ihe Supporting Vvorking Famlies project. a tw￿Year initiative made possible by the Nalional Lott￿. This proiect offers supp(xt dasses h)r fanKlies, indu(kng a lanwage café, sesSior￿ to prepare for the 'Lite in the UK Cilizenshp test. and Read & ￿lte dasses as well as thgital sklls wNkshops. other initiative we introthced is Ihe Lunch CILkn, fimded by Ihe Nalional LOtte￿S "Award5 for M.. This project is not just about food. ivs about I￿tering ¢orrfftJnty. Every week. V•* provide healthy twtrcourse meals for individuals aged 55 and over, serving about 20 to 30 ff*al$ v￿ekIy. The Lunch aub creates a frien(ly space vthere locals from all wa￿$ of life (xn come togetr￿. share meals and ￿ in aclrdlies. are akn proud of Ihe Believe Prop¢t, nthv in its fiflh yw. vthich provides employment and t￿Ing 5￿pOrt to Y¥Y)men trom vaTiOUS ¢ountrie6. induding &dan. India. Pakistan. Somdia, Afghanistan, and many more. Celebrating their atxomplishnpnts together on Intemalicmal ￿)n￿n,5 Day in Mwth ￿ paro￿laty spet?al. a6 60 irw)iring V¥Dmen came together lo sh*e1heirfvwmeys and achievemerts. The Let's Interpret projed c(xrtinues to ￿0w. increasing the number of tralned and qualified interpreter& bthile providing them ongouw Wofessi¢￿al training and pew wpport Ifs hea[t￿￿￿*ng to see the positre Impa¢t this has on our ￿MMUnty. Our Young Chil(tren & Paren15 Proied conlinues to provide a range of engaging geNicts. sudi as a mobile crèche, parent and toddler gr￿ps, and ho￿daY play aclivrties. The Parent & Todthw ryoup offers thildren a space to enjoy messy play. singing and storytsme, fostering their development and readness for sthool. The mobile crèchè seNice ks utilized by various (YgarMzatÉons offering adutt training and thcation, enatty p￿ents to focu8 on their learning ile their children enjoy 8afr *KI fitn acthities. The Wyntham Street Panty remalns a vital rttource, w)Vii*ng afftydable food and addressing the issue of food poverty in our community. Operating Mqce a weeK we are proud to hel) Aithiduals access up to £25 *x)Tth of groC￿leS for jusl £5. Our de(ticated panty volunteers truty make a difference in the lives of many. The River Music ProieL* brings people together throu￿ music. By offerwig workshops and performanees. we enc(yJrage ueati¥rty and foster a sense of belongiw. This prniect has become a platform fDr diverse voices. allowing individuals to share their stories throu￿ song and coUaboTation. Local musicians and aspiring artists come fogether to leam, create. and pwtsrm. enhan(ang comThthity spirit. Tree songs ueatsd n collaboration with local artists and the community are now pth of the Welsh National School Music cU￿1CUlum, further hI￿1￿￿ting the voice5 of our comrnunty. This year. we also (￿ebrated the of the nevAy [eknb¢s￿ FO¥￿Side V*arehouse. one of our beloved community buil(*ngs, vthith vms officially q>ened by First Minister Mark t*akeford. The transfomation has created modem, li￿t-￿Iled space Ihat 45111 serve as a ￿￿11[[uncl10na1 resource for years to Lx)rne. Most tmportanty. it Vlill host our Youth InDovation Proiert. woviding valuable suptx)rt to young peoF4e from Riverside and Grangelown. As I reftect on all we've acconylthed, I feel immense wiik in the services our Centre offers to the wondertul C￿Mn￿nitieS VR serve. Thnjugh all our initratNes, ¥￿ strive to nuFknre comrwrllty spiiit, support familie5, and Greate a welcorrring environment for everyijne. l extend my uyalilude to au the staff. inthdng thitdcare provider6. deaners. volunteers. youth worf(ers, projed workers, and leaders. Their onwing eltDrts deM￿Strate the power of Comr￿nity- driven support and Ihe pwtive thanges it ￿ingS to people& lives. SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD CHAIRMAN'S STATEMENT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 [4/4 SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The bustses yesent their annual report and ffinan(aal s￿￿eMents for the ended 31 March 2024. The ftnancial statements have been prepared in accordance Y￿h the accounting policyes set out in note 1 to the financial statements and conyly ￿1h the tharity5 [￿vernIng document]. Ihe Coffpanies Act 2006 and "Accwnting and Reporting by Charities: Statement of Recorrrfnended Practice appIl￿ble to th￿ilIeS PFepating their aCC￿nts in accordance Wffth the Financial Reporting Slandard ¥Jplicable in the UK and Republic of Ireland (FRS 102)" (effecfive 1 January 2019}. The airy￿ are to: . Advance the ethcalion of the ￿kn11¢ in mattws related to rrMtal. physi￿1. CUl￿ra1 and social welfare. . Rebeve poverty. Stratsgic aims (kw stratsgic aims- the interrelated means by vknith we achieve our mission are.. To foster the enwverment of n(fvi￿al8 and throu￿ provi(Ing nfOnnatl￿. facilitating irNo]vement in issues that affect their lives supwt'ng comrnunty rAwllsation and developina skills, and actaig as an in(kpendèn( rwesentslive Vol(￿ for the ¢))mmunlty. Ensure access to setvw. faclilies and Opp￿￿nI11eS necessary frx Ihe social and economic development, heaKh and wdlbeing. . Develop strong UOSSwcullural relati(• recognise. value and celebrate the ￿l11(￿j11ural rnakeup of ¢)ur community. We aim to athieve this by supy)rt*)g (AAtural aclivities vAthin each communty, encouragng sharing beiween eullures and wonKAing understanthng and acceptance, I￿1￿ch V•ill benefjt our diverse ￿m￿￿jn[Ile$. The centre operates ￿1th the follovang values and processes to promrte: Social justir Enab1V￿ people to daim their human ri￿ts. meet their needs and have greater control over the deci6ion-making process which affeds their lives. Participation Fa(#litsting deff¥)cratic ryiolvement by peLyle in the I&￿e$. affect their live5. based full atizenshlp. autonomy. and share p0￿Er. skills. kno¥*dge and experience. Challenge the attitudes of indviojals and Ihe waclices of instriulirffi ￿ socaety that dixrimnate against and margnalise people. Learning Recognise the S￿11$, kno%￿edge and experknKe thal people conbibute develop by taking action lo tackle social. economic, polibca ar￿ environmentsl issues. C(￿PeratIon rk together to ¥Jen1ify and implement adion. b￿d on respe(a of dverse (aJlbJres and crmtritKrtions. Public benefft The trustees have paid the regard to guidance issued by the Ch￿rtY Commission in deAdng ￿at acli¥ities they shtxdd undertake. SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AIARCH 2024 Young Chiklm & Parnnts Project (YCPP) The YCPP works diiktren and young petyle ages O to 14 years, wowthng mobile crethes, parent and toddler oups and holiday play and craft a(kniti& tkwing school hdi* we WOVKkd aclivibes for ow 60 chil(tren aged Paren Toddler We have seen an inrrnse in the attendaKe fDr Parent & Todder w>$ *thi¢h is tsnded by Children in Need. We now have over 20 famlfies regstered and regjarfy have at least 8 to 10 faTh￿es atten(ling each session. The Childr￿ have settted well and enjoy a range of adsvrties induthg messy play. sir￿￿ng and skny-time. This run5 for 2 momings a wetsk during term time. here the stsff provides adivibes Mh'ch h* in the thild's develOpm￿lt and prepares them for 8th001. The YCPP provided mobile ￿ethe for a range of wi5*•ns *tK* offer training and edU￿1)Q￿al oPpo￿nI11e5 ts parents. Thi5 provi8ion provides a safe arKI eruami enwonment for dul(tren to play their parents are leaming. This yearwe have provi(led ¢xethes for 7 uoss-ee(kn acr￿ Swth ￿￿e8. Lunch Club Lunth Club is fvnded by the National Lottw °Awards All" aKJ st*d In October 2f23. We prthide a hethy 2 urse meal, one day a week throughout the year, for anyone over 55 yews of age. ￿tak￿Y covers average bel￿Pen 21>30 mea18 being seNed, YAh a mix of tK•th male ￿ femde parbLipwts. The kmch dub offe vmrm space for lo￿1 people from a variety of ethnic bacwounds, to so¢ialise and tske part In acb?iities. The dNerse menu Tesponds to ￿ltUraVre1vouS datss in the annual calendaT {Christsnas. Iftar and Chinese New Year) A proportion oflhe weekly food was sourced from Ihe Vthdham Street Panty and local suppk'ets. Let5 Interpr L￿ring the period ofP4Yil 2￿￿￿arth 2024, Lds Int￿et vras ￿nded by a National Lottwy 'Avrards for grant and Ihen by SRCDC (x￿e funong forthe Iwarter. vkibt we ¥*re adivdy fun¢kni8ing kn 2024-2(Y25. t￿ring this period we reuuited a f￿1h￿ 21 tralnee inteW, all of s￿￿(U11Y Mmplded an accredited levél 3 course in F￿blIC Service Interwding. A fiwther 11 exisling rnen*￿￿ successfijlty completed an ac(sedited level 3 course in Health Interpreting. Addilional continuing wofessional development (CPD) training was also delivered on lopics includng: safeguar(ting. e¢walty and Oversty awareness. ￿KmIeffl day slavery. vicarious trauma and self-enployment These *Ere attended by our ex￿ng rnerrtjers as well as the new recn#ts. Members also benefitted from "meet Ihe ernpk)yeff sessiorts ￿lIh Clear Vol￿. Carthff ￿￿Men.$ Aid and CCAWS (Comff￿nty Care and Wellbeing Servi¢e) and a nunkner of meiikn benefiiled from ewience seared both ￿￿thIn SRCDC and wilh lo￿1 third se(kn organi5alions suth as CCth8. ￿sh ReAy CouM?l and Age Cymru. We alg) continued the provisti)n of bi4nonthly refteclive pradice session5 fc* Ihose of I￿r vkno have started king as volunteer or paid inlerpretern. wyndh￿ Street Pantry The Wyndham Street Panty provides a l*ice ￿klY (fuesday 1pm4*m & Wednesday 10anF2pm) oppothnÉty for local residents to access up to £25 offood shopwg for £5 {foo(l FKothcts vary on a basis). The panty collaborales wilh a range of suppliers industering a sense of comFThJnty. This fr￿S and approach is evident throughout our work. River Music 2023-24 VRS another busy year for the River Music Proie¢t even though the project rfidnl have muc* in Ihe way of new major funding. ukulele, piano, drama and regaar thumnNng da&se6 continued. Y￿th the suKport of the tsain Fund. and we wère fothnate to re￿1ve SO￿ fvndlng fr<)m Cardiff Council. whith we used to knd art trips to a local wood18nd area kne Ihe materials fO￿d everthally were used to make de¢￿atIOnS and cosbjmes for The Riverside Feslival. SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD TRUSTEES. REPORT (INCLUDING DIRECTORS REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AIARCH 2024 O¥erall. the proiect engaged over 640 pwle in a broad of adi¥ibes induifing: supwtng the 2 V*Eek arts and (Yeatrde camp ft* the Ilivetside Fes11￿al, ttht workshops, an1rnali￿ and illuslTalion sessi(￿5, supporting perfom*nce owortsmities for local artists. d￿c￿5, spoken word and intanaticffial visikng aTtists. helw)g to set up Ihe Caribbean Forum, ￿PPOrting ￿l￿ra1 events indu(kng Roma artists pthThHn￿5 as part of Intemalional Roma day, weekly art dub for local chiktren and supwting children's ukjjele and perfomwces at Ihe launth event of the nevAy refutbished lknve(side Vltdrehouse. that f0m￿lY 0￿ed ty FiTrt MinÉster Mark tknkeford MS. Resilience For F￿n￿leS Resilience for FarniSes is a 2 year project ￿nded by the Natiord Lottw wovides dasses and sessions to support families to succeed. The project Tuns a wee￿Y langjage ￿fè to swort participants with conversational English, %*eekly practicelpreparation session5 to enabk parti(apats to sit Ihe 'Life w) Ihe UK &itish Citizenship test and y￿ekty Read & V*tte dasses. The proiert has also w(¥ked ￿ parfnerthp *ilh Cardiff Coun(il tQ 4ktNer a series of VAxkshops to inwove basic digital skims. Fin￿la1 rnview Th8 (*arity conducts its core activities from its bulthg in a freehc4d buM(kng T￿1￿ it Ol%TIS. The Wyndharn Slreet Centre and The Warehouse are both leased from C¥i*if c(wn(xl. The chaTlty is reporting a Surp1￿ of £59.252 for the year enthng 31 Mwch 2024 corwed lo a suttkn of £ 329,835 fDr the previous year. Warehouse Refvrbishment fund Induded in restricted income 15 fjjndwy towards t￿l￿Tr9 to the Warehr￿e. In the prior yEar, £300,000 was received Ki relalion to1he wareh1￿ re￿Ib￿MenI. The expendiiure relating to the biNIthI9 inyovements ￿n¢kng totdl•y £48,812 has been capitalised in the Statem8nt of Ftnancial Position. The lyjildlng can be used for Ihe (*arity'S general ac*¥ity. Ihe restrtdion has been satisfied upon ftrtl expen¢Sture and eoryletion of the woiect. therefore the fund has been tran8ferred to an unrestricted desi￿ated building iryovements fund as at the year end. UnrestTi¢ied funds The total unrestricted fvnds at the year end amount to £179,655 (2023: £453,833). Thss is split be(y￿en general unre8trrLted ￿ndS of £122,303 represenling Ihe thari1￿8 free reserves, a general Pantry fund of £4,019, a general building inyovement fund of £47.734 reve5￿g the Hlstoric Nel Book Value of restricted cap¥td eXpend￿re on building inyovements to the warehouse •)d a fred asset knid of £5,599 represenling Ihe klisknic Net Book Vaue of the remainder of the fixed assets. The charity holds £816.975 in reserves compared to £757,723 in the previous year. The reserves are dassified as £179,655 unrestricted and £637,320 restricted. It is thè policy of Soulh RiveTside Communty Devel(fJment Centre to hold sufficient reserves to cover at least 6 monts of operaliorml costs plus potenlial rethndanry cods. The tharty has calaAated the unrestricted reserves as £79.328, Iherefore the C￿rent unrestrlcted reseNes level of £122.303 is sufficient Offiws ￿ Tfi￿eS con1inue to review and the reseNes larget and levels. Legal st￿9 The charity is a conwany, limited by warantee. rei¢ 5tratiw nuFtthr 03953683. It 15 rw5tered wlh Ihe Charity Commiswon. nuth 10803114. The management comnmttee ¢onfirrns that the arfftd report and finan(#al statements of the charity ¢omply with the requirements of the tharity's goveming d0￿ments and tr￿ provtsions of the Charities Statement of RecoFrrfnended Practice (SORP FRS 102). SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Reference and administrdtive details Charity name South Riverside Community Development Centre Limited Charity number 1080314 Company number 03953683 Registered office SoLrth Riverside Communty Centre BNnel Street Cardiff Wales CF116ES Trustees Keilh Abdi SecTetary SalamAbdul Ken Barker Vvayne Findlay Natslie Hamonda David Hann Saif Khan enaka Kodur Jacqueline Marshall Gwilym Owen Jaswant Singh Loma Stsbler Marttna Svobodova Sarah Way - resigned 1 April 2023 resigned 1 April 2023 - resigned 1 April 2023 appointed 1 AprFI 2023 - appointed 1 Apnl 2023 Independent examiner Azets Audit Services Ty Derw Lime Tree Court Cardiff Gate Business Park Cardiff CF23 8AB The trustees, report was approved by the Board of Truslees. Ken 8x*er Trustee Date.. SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD I report to the trustees on my examination of the financial statements of South Riverside Community De¥elopment Centre Ltd (the L￿arty> for Ihe year ended 31 March 2024. Responsibilities and basis of report As the trustees of the chanty (and also its directors for the purposes of company law) you are responsible for the preparation o* the financial statements in accordance v￿1 the requirements of the Companies Act 20C6 {the 2006 Act). Having satisfied myself that Ihe financial statements of the chartty 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 examinab.on of the charity's financial statements camed out under section 145 of the Charities Act 2011 (the 2011 Act). In Vdrying out my examination I have followed all the applicable Dredions given by the Charity Commission under section 145(5)Ib) of the 2011 Act. Independent examtner's statement Since the charity's gross income exceeded £250,000 your examinei must be a member of a body listed in sectio 145 of the 2011 Act. l Confirm that l am qualthed to undertake the examinab.on because l am a member of Instsbjte of Chartered Accountants in England and bltrdles, vthi(*t is one of the listed bodies. I have completed my examinats'on. I confim) that no matters have come to my atten1ion in connethon wyth the examinabon giving Tne cause to believe that in any matenal respect.. accounting iecords were nol kept in respect of the charity as required by section 386 of the 2006 Acl, or the financial statements do nol accord with those records- or the financial statements do not comply V*ith Ihe accoun*"ng requirements of seth.on 396 of the 2006 Act other than any requirement Ihal the accounts give a tnje and fair view T￿ICh is not a matter considered as part of an independent exafflination.. or the financial statements have not been prepared in accordance wth the methods and principles of the Statement of Recommep.ded Practice for accounts'ng and reporting by thar￿.es applibaDle lo charities preparing their aKounts in accofdance with the Financial Reporting Standard applicable in the UK a¢xt Republic of Ireland (FRS (02). I have no concems and have come across no other matters in connection wth the exaNination to thich attents'on should be drawn in this report in order to erTable a proper understsnding ol the financial statements to be reached. KL w.J Andrew Howe115 Azets Audit Services Ty Derw Lime Tree Court Cardiff Gate Business Park Cardiff CF23 8AB 24 D￿arnber 2024 Dated.. SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD STATEMENT OF FINANCIAL ACTMTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AIARCH 2024 lunds 2024 funds 2023 funds 2023 2024 2024 2023 Donations and legacies Charitable acbvibes Invesbnents 316.513 348,841 158.589 1.440 42.535 97.807 514 617.186 659.721 97.807 514 158,589 Tolal incorne 1¥2.357 316.513 508,870 140,856 617.186 758.042 I￿re on: Charitsble a¢tsvitses 159,111 290.507 449￿18 119.592 308.615 428.207 befoTr transfer5 33246 59252 21264 308.571 329,835 Gross transfers bthen fi&nth (307,424) 307.424 323.539 (323,539) Nd (expendi￿re)r￿CcYne for the yearl ￿￿vernont in funds 1274.178) 333,430 59.252 344,803 (14.968) 329.835 Fund balances at 1 Pp 2023 453.833 303.890 757,n3 109.030 318.858 427,888 Fund balances at 31 March 2024 179.655 637,320 816,975 453,833 303,890 757,723 The statsment of fmancial aclNibes I￿udeS all gr4ns losses re¢og)ised li Ihe year. All Income and expendiknre deFi¥e from c￿￿)U￿g athitss. The statement of financial adivrfie5 also conwies valh the requirements for an income and expendilure account under the Companie5 Act 2￿, SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Notes Fixed assets Tangible assets 11 459.243 418,200 Curtent a55ets Stocks Debtors Cash at bank and in hand 12 13 200 54.059 352.g89 11.536 376.246 387.782 407,248 CredrtOf5= amounts falling due within one year 14 {30,050) 167,725} Net cu￿ent assets 357.732 339,523 Total assets less current liabilities 816.975 757.723 Income funds Restricted fund5 stric Designated funds General unrestricted funds 15 637.320 303,890 16 57.352 122,303 349,128 104,705 179.655 453,833 816,975 757.723 The eotnpany is enb"tFed 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 acknovledge their responsiblities for complling the requirements of the Companies Act 2006 th respect to accounb.ng records and the preparation of financial statements. The members have not iequiied the company to obtain an audit of its financial statements for the year in question in accordance wÉth sectton 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by Ihe Trustees on ................. . 8x*er Twslee Company registration number 03953683 10- SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Cash generated from operall¢)n8 19 74,576 342.669 knvesting activities Pur¢hase of tangible fcKed assets Investment Incon￿ received (52,759) 1,440 (303,960) 514 N81 cash used in investkng xthiltles (51.319) (303,446) 23.257 39.223 Cash and cash ewivalents at beu¥nring of y 352.989 313,766 Cash and cash equivalents ai end of y￿r 376.246 352.989 11- SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Account*w policies South Riverside Comnxmity Devel0ix￿t Centre Ltd is a In¥ted by guarantee incorporated in England and lthles. The re￿￿ed olllce is South I￿e￿ide Comnmmty Development Centre, Brunel StreeL Rivdside, Caraff, CFII 6ES. . The financial statements have been Prep￿ in accordance ￿lIh the tharit￿$ goveming documert the Companies A¢t 2006. FRS 102 Yhe Finan(xal Reportuig Skndard applicable in the UK and Republic of Ireland. fFRS 1027 and the Chaities SORP "Am)unkng arvj Rwting by Chaiities: Statement ot Recommended l*actice apFlicat4e to (*arilies preparing Iher a¢¢ounts in a(wrdance ￿1h 1he Financlal Reporting Slantsd appts'cable in the UK and Republc of IrelarKI {FRS 1 W2)" (effpL*ve 1 January 2019). The charity is a Public Benefft Entity as def¥￿d by FRS 102. The financial statements are prepared n sterting. vthich is the fijnclional currency of the charity. Monetary amounts in Ihese f￿￿4]a1 statements we r(#Jnded to the nearest £. 12 Golng concern At the time of approving the lInaK￿ sknteMe￿. the Inthes have a reasonable expec*at￿)n that the (*arity has adequate resour¢es to c(Y)IKvJe in operational existen￿ for the fweseeable fiJbJre. Thus the trLslees continue to adopt the going ￿n(￿n basis of acco￿t￿)g *) prepaing Ihe finan(ial st*8menls. la Charitabl• fvnds Unrestricted funds are avadable ft¥ use at the thtxetlon of the Injstees in Awlherance of their charitable objectives. Restricted fijnds are s￿￿¢t to speafic conditions by thn(#¥ as to Iwjw they be tssed. The wrA>ses and uses ofthe restricted are set (Art fft the notes to tr￿ statements. Endovrnl ￿ndS are ￿b￿cl to speofic ¢tyKfjI1￿ by d¢￿ that the Wital be maintained by the charity. 1.4 Income Income Is reeognlsed wlen the chaflty Is enfflled to it after any perfOrnIan￿ corM5kn have been met, the amounts can be measured reliably, and it is Frobable that income will be received. Cash donations are re(wi5ed on receipt. Other d￿all(￿ are reCog￿ed once the charity has been notified of the donation. unless conditions requtre defetTal of the amount Income tax recoverable In relaoon to dOr￿￿1cmS received under GIftP4d cx deeth of covenart Is recw*ed at the of the dc#)allon. Lega(yes are reco￿lsed on Teceipt or othepwi8e tf the tharity has been nolified of an impendvig (fBtribution. the arn￿nt is knoyffl, and receipt is expected. If Ihe amounl is not knoym. the legaGy is treated as a Conting￿lt asset. 12- SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) 1.5 Expenditure EXper￿lI￿re is recognlsed On￿ there ￿ a legal or constructive obligatton to transfer economic benefft to a third party. it is probable that a transfer of economic benefts will be required ￿ settlement. and the amount of the obligabon can be meas￿￿ reliabty. E4￿ndI￿re is dassified by actr¥ity. The cosis of each ac￿ty are made up of the total of dIr￿t costs and shared cx)sts, wielu(Ing support costs inVo￿ed in undertaking each aclivty. Direct C￿￿ts attributable to a single adI￿ty are allocated directty to that actr4dy. Shared costs *thich contribute to mre than (xte aclivity and supp(Kt costs are not atlTibutable to a sin* adI￿ty are apportioned betrAeen those aclimtses on a basis consistent v￿th the use of resources. Central staff are allocated on Ihe basis of time spent, and depre¢jati1￿ tharges we allocated on the portion oflhe assefs use. 1.6 Tangible fixed ass4ts Tangible fixed assets ar8 inilialy Measu￿ at (X￿ subsequW measwed at Cost or valuation, net of depreL?ation and any inyairn)ent108SeS. Depre(aation is recwuséd so as to ￿lie off the cost or vdualion of assets less ther re8ithal values over their useful lives on the follov4ing bases: Freehold land and I￿11￿ Efwipment Fixtures and fittings Computer8 Vlkrehouse lffprovements 1% straI￿t rine 25% straI￿t Ilne straw Im 25% Straw￿ lkne stratht hne The gain or It>ss arising on the disposa of an as8et is detern¥ned as the dfference be￿en Ihe sale proceeds and the Ca￿￿1ng Va￿ ofthe asse( and is re¢￿ised in the slatement of finandal athltles. 1.7 Impairn*nt of fixed assels At each reporting end date. the charity revIeV￿ the ¢arryffig amounts of its ts￿ble assets to determine ether there is any inthcation that those assets have suffered an inpairnienl loss. If any such tndication exists, the fecoverabie an￿￿t of Ihe asset is estimated in order to deleffliine the extent of the imparFnent loss (if any)- 1.8 Stocks Stocks are stated at the lower of c(£t and estlmated selling price less costs to coThplete and sell. Cost comprises direct matefials and, *there applcable. <*rect lab￿r costs and those overheads that have been inGuffed in bringng the stocks to 1heir present locati¢yi and Cond￿0￿. Iten-ts held distribulion at no or nominal eoMd8rati(Jn are meas4Ked the lo¥Rr of replacement cost and cosL Net reali6able value is Ihe e51imated sellng Frfice less all estiwAted costs of comple1ion and costs to be incU￿ed in mwke1ing. se*ng and thlrnxkn. 1.9 Cash cash equivthts Cash and cash ewivalents cash in hand. deposits held at cal vAih banks, other Sho￿terM liquid Investments y￿th ￿l￿n81 maknr¥ti'es of ttY8e months or less, and bank ovefthafts. Bank over(trafts are sho*n ilhin borrowin￿ in ￿[rent liabiEties. 13- SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 AccountNig (Continued) 1.10 Financial instrnmonts The charlty has eleded to the W￿l0￿S of Sedion 11 'Basic Finandal Instruments. and Seca50n 12 'Other Financial Instruments Issues. of FRS 102 to am of its fo)wHial inslfuments. Financial instruments are recogwed in the thaitys bdarbce sheet wthen the thwity becomes party to the contradual wovisions ot1he rthment Financial a66ets and kbililies are offse( *qlh the net am(xmts F*e$￿ted in the fjrMn¢ial statements, then there is a legally enforceable li￿t to set off the recoglised amounts and there is an inten1ion to settle on a net basis or to realise the asset ￿ settle Ihe liakhlfy Bastc fin￿&1￿1 a￿ets Basic fjnanoal assets. ￿thich indude dEbtOrn &KI cash and bank ba￿, are inilially Th￿aSured at transactlon price induding transaction costs and are s￿seqUenty (aTried at amorlised cost using the effective interest melhod unless the arrangement constilutes a Inanciry 1ransackn. bthere the transadion is measured at the present value of the fu￿re receipts (fisc¢xth at a mwket rate of irterest. Finanixal assets lassified as Teceiveble within one Ye￿ are not a￿K￿lIse Basic financial liabilities. inthlffing ￿editOrS arKI bank loans are inttialty recO￿lSed at transaction wice unleB8 the arrangement constitutes a fw)an¢ing transa¢lion, vknere Ihe debt insbijment is me8SUFed at the present value of the future payments discounted qt a market rate of interest Flnancial liabilllies cknified as payable Ylithin one ￿ar are not an￿11$￿. Debt instruments are subsew• carried at arn￿11$ed cos( using the effecli¥e interest rate method. Trade eredtors are obligabons to pay for good5 or Servic￿ that have been acwtred in the orilinay course ot operations from SUFpliers. AnM)unts ptrffjtle are dassified as ￿rrent labililies rf poyment is (kne within one year or less. If not, they are [ff￿rted as n(￿￿￿rrent ￿b￿lI}es. Trade uetht(Ys are recogni8ed inilially at transaction plce and sthequ• M￿SUr￿ at amortis￿ cost using the effethe interest method. Financial IRbilities aTe dereCO￿lSed y•l￿n Ihe Ob&￿tionS expre or are dstharged ( 1.11 Employee benefts The c05t of any unused holiday enlAlement is re(%wised in the per￿d in *thi¢h the eryjloyee's seNices are received. Terminalion beneft3 we recognised immei*ately as an expense *then the dHity 18 demorthbly cornmitted to t￿rninate the employm￿ of an th7Woyee ￿t0 provide lenr1ndl(￿ beneffls. 1.12 Rdlrement benerts Payments to defjned conltknulion relifem*rt benefit sthemes are ¢*arged as ￿ expense as they fau 14- SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD NOTES TO THE RNANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AVIRCH 2024 In the application of the ¢harity's accounting poliaes, the trustees are req￿red to make judgements, estimat85 and assumptions about the carying arn￿ of assets and liabilitses that are not readily apparent from other sources. The estlmates and as6o￿ated ￿e based on historical experience and other fact￿ that are constdered to be felevant. results may diifer trom Ihese eslimates. The estimates and ￿r￿Ing assunytit)ns we revithved (x) an ongoing basis. Revtsions to accounting estimates are reC￿l$ed in the period in whith the estimate is revised vthere the revision affects cnly that pertod, or in the period of Ihe ievtsion and fulure periods ¥there Ihe revisi￿ affeixs bolh current and luture periods. 15- 0*0(*4onvOOThI 0TOOinoirJ rilYrriIXIO- 888 4YJO*O I (0<0 e4 w) thi a) o* 00 o 00 o o ciEa ¥( • +* 00*0 oco *0 0OOlfJOOO OplOIYOOCI >a>AouJooo oro*o * t4 ¢ tN ￿ ty) ¢0 *ow) 821-888 a)000 Iyi 05 l)JOi ln ry￿0000 èw oiL V (U C (nwu)wu)O ? o o rt) U¥5 ET5E v5uuvzz￿￿LUaZ￿￿ SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD NOTES TO THE RNANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AfARCH 2024 Charitable athities Funds Funds 2024 2023 Renlal Income Olher In(x>m8 The Panty Membership 115,597 29.520 13.472 51,053 32,025 14,729 158,589 97.807 Invo$thi￿ts Unrestiicted Unrestricted funds funds 2024 2023 Interest receivable 1.440 514 19- SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AIARCH 2024 2023 staff costs Depreaalion and i￿¥>al￿ment Proiert costs Repairs and maintenance Travel and subsistence Premises costs Leg81 and professiona fees Subscriptions Warehouse Refurt>￿m*rt r¢hases 212,039 11.716 135,202 17,839 122 27,0>) 217.774 10,063 137.923 8.058 3.596 16.290 7.514 342 1.849 1,889 437 417.122 401,997 Share of support costs (see n(rte 7) are of govern￿Ce costs (see note n 20,605 11,891 16.058 10,152 449.618 428,207 Analysis by fund Lknrestricted ￿ndS Restri<%ed fvnds 159,111 290.507 119,592 308,615 449,618 428,207 -20- SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AIARCH 2024 Support costs Support Govemance 2023 3.420 3.420 4,042 4.042 PAlministralM)n 15,304 15.304 11,764 11,764 Wunteer 1,738 143 1.738 143 k Fees 252 252 Independent 5.400 6.491 3,960 6,192 3,960 8,192 6.491 20,605 11.891 32.496 16.058 10,152 26,210 Charitable actrlts'es 20.605 11,891 32.496 16,058 10,152 26,210 Govemance costs indu(ks payThnts to the independent examiners of £5,400 (202> £4.800) for independenl examinati￿ fees. Twsteas During Ihe year, In￿ Martro Svoboth vrds paid £740 for vKYk relaling to HR issues and warehouse refvrtjishment. {2W23- n￿e). No tr￿tee$ were reimbursed for expenses (kning the current or plor yth￿. 2024 Number 2023 Number Senior Manager Project Manage Project Off cers 13 21 CleanersICa￿tsker& Tot 26 -21 SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 {C￿tinued) 2024 Wages and salaries So(4al se¢uiYty costs Other pension ¢osts 201,068 5223 5.748 202,142 8.829 6.803 212.039 217,774 The key management personnel of the charity the p￿10d we noted in the Irustees reporL The total emoluments and b￿efits received by Ihe key llwment Pers￿ne1 thring the yev Wd$ £21.650 {2023: £23,529). There were no employees ￿Ose armual rerrats￿￿on more IFAn ￿).000. 10 Ta￿￿10n The charity is exempt from tax on hKome and * fBling knithin section 505 ofthe Taxes Ad 1988 or sectFon 252 of the Taxati(mof ch￿ Gain8 1W2 to Ihe extent thatthese are applied to it8 tharitable obiects. 11 T￿lb￿ flxed astds fjlllngs At 1 Ppril 2￿3 A(klttion8 198,125 303.960 48,812 66.361 3.947 601,144 52,759 At 31 March 2(r24 198.125 352,772 70,308 653.903 At I hpTiI 2023 Depreciation tharged in the yEar 85,942 1.981 6,079 28,019 1.853 182.944 11.716 At 31 Marth 2024 87.9rJ 13,134 63,n1 29,8n 194.660 Carying amunt At 31 March 2024 110202 339.638 6.5 459.243 At 31 Mar(* 21Y23 112.183 297,881 3,457 4.679 418.200 SOUTH RWERSIDE COMMUNITY DEVELOPMENT CENTRE LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 12 Stocks 2023 Finished goods and ￿0d6 for resale 200 13 Debtors 2024 2023 AM(￿nts fallti￿ duo wlhin ono year. Trade debtty Other debtors Prepayments and actrued income 11.072 8,871 14.016 31,172 11,536 54.059 14 Creditorn: amounts within ￿ )wr 2024 2023 72 991 28,987 4.235 14,950 48,540 Olher creditors Ama* and deferred incorne 67.725 oe4e4 lft- ID Or 41 (*> *0￿￿ TO NO W£1 O PID (Y rLJ EV oij 3 ff> C* Q+C* iooo 1OOOrC*IiIO(4 Inc4 oninv)*￿oO 400 0￿0c> oo* I•0 V)0 4X) ( a)c+40*000) ' 00*0 *oneo*o 0fts¢y¥￿*￿O￿0￿)O (4 r O¢fJ Ilj? m (o oouuuuouZsz￿lL 7J Qu Of7J 17• tu W O 88 TE U•EE wJ0oZ &2 ¢y 41 E > il 0 O UJO U>ii 4> ilÉ5 th 0 ri+8 > £1 EEE>> EB UUUUOUu<0￿ ra u Z 2 VJ 61* SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 PAARCH 2024 18 R8lated party tr4n5actions t)uring trle year, trustee Marlwia Svobo(ha paid £740 for wxk relating to HR issues and warehouse refurbishment. (21r23 - none). 19 Cash generated from operntions 2024 2023 Jrplus for the year 59252 329,835 Adjustments for. Inveslrnent income re￿￿15•d ift statement of frn(7al adivibes Depreciation and iwpairrw)t of tangble 5xed assels {1,440) 11.716 {514) 10.063 Movements in ￿TIr*in9 capital: Decrease in sto¢ks Decreasel(Increase) kn deblors {De¢re8Se)hner&￿ in ￿e(kn 200 42,523 (37.675) (31,056) 34.341 74.576 342,669 20 Anatysis of ch*Nes in net fund8 The tharity had no debt thrkng the year. -32-