Charity registration number 1080314 Company registration number 03953683 (England and Wales) SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD CONTENTS Page Chairperson's statement Trustees, report Independent examinerfs report Statement of financial activities 10 Balance sheet 11 statement of cash flows 12 Notes to the financial statements 13-31
SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD CHAIRPERSON'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2025 Chair's Introduction As Chair of Trustees al South Riverside Communty Development Centre (SRCDC), I'm really proud to share this annual report, which reflects another incredibly busy and inspiring year for our organisation. We are based in one of the most diverse parts of VkÈles- something we see as a real strength. The people who live in our community bring so much to the area.. different languages, cultures, skills and experiences. But this area also faces big challenges. Many of our neighbours are dealing with povety, poor housing, health issues and limited access to opportunities. That's why the work of SRCDC matters so much. Our Young Children & Parents Project has helped children learn through play and prepare for school, while also giving parents- many of whom are leaming English- a Chan to make friends and feel part of something. The Mobile Crèche has made it possible for parents to attend dasses and appointments, knowing their children are safe and happy. We've supported organisations like the NHS, Red Cross and Cardiff Council by helping their sessions be accessible to more people. The Lunch Club has become a weekly highlight for many over-55s, with a wami welcome, great food and good company. board games, chats. and a proper 0-Course meal - what more could you want? Believelcredu continues to grow, supporting local women to build confiden, develop skills and explore new opportunities. Seeing women stand up and speak at the Principality Stadium for International Women's Day was a real moment. From digital literacy to sewing, barista training to law workshops. this project offers a wide range of ways for women to thrive. In Suss it Out, women are leaming practical sewing skills and creating beautifvl things, while also building friendships and confidence. The Wyndham Street Pantry has remained a vital support for people facing food insecurity, offering affordable groceries and reducing food waste. It's also been great to see the connections with local veg growers, with donated plants and produ going straight to residents. Our amazing volunteers- who put in the equivalent of £50,000 worth of time- deserve special thanks for keeping everything running. from food collections to stocking shelves. The Youth Innovation Programme has given young people a space to grow. express themselves and build confidence- whether through sports, creative workshops, or tackling tough topics like bullying and knife crime. The partnership work with universities and local businesses has opened up new doors, while events like Halloween and summer parties have broughtjoy and connection. Resilience for Families has supported migrant families with English conversation sessions, British Citizenship test prep, and digital skills practical, helpful support that can make a real difference to people trying to settle and succeed. Let's Interpt is helping multilingual women tin as interpreters and find opportunities to use those skills in the community. 230 hours of interpreting this year shows just how much need there is - and how much talent we have locally to meet it. The Fullness Projecthas been all about reducing isolation among older people through fun, creative and supportive activities. From helping wth phone calls and letters, to baking. crafts and local trips, it's about making life that bit richer and more connected. Our arts work - particulady through The River Music Project- has continued to create unforgettable moments of cultural exchange and fun. From Balkan dan to Urdu calligraphy, ukulele to urban beats, our creative programme not only entertains, but weaves stronger bonds across difference and celebrates Riverside's incredible diversity. Radio features, public performances. and original compositions around Welsh identity and social justice have made this a standout year. And finally, Sustaining Grassroots Empowernient is supporting people from migrant backgrounds to get their voices heard in local and national decision-making. That means attending consultstions, shaping policy, and building a stronger sense of inclusion and representstion.
SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD CHAIRPERSON'S STATEMENT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 What lies all of this together is our belief that everyone deseNes dignity, opportunity and connection. Whether il's a hot meal, a sewing workshop. a music session or a chance to speak up. SRCDC helps create spaces where people feel seen. heard and valued. Thank you to our brilliant staff. volunteers. partners and of course the residents who come through our doors every day. The strength and warmth of this community is what makes everything possible. Here's to another year of working together, learning from one another, and making a difference-one small step at a time. Chairperson Date:
SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The trustees present their annual report and financial statements for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Igoveming documentl, 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). Objectives and activities The charity's aims are to.. Advance the education of the public in matters related to mental, physical, cultural and social welfare. Relieve povety. Strategic aims Our strategic aims- the interrelated means by which we fj11 achieve our mission are" To foster the empowerment of individuals and groups through providing information, facilitating involvement in issues that affect their lives through supporting community organisation and developing skills, and acting as an independent, representative voice for the MmunIty. Ensure aCsS to services, facilits'es and opportunities neSSary for the social and economic development, health and wellbeing. Develop strong cross-cultural relationships which recognise, value and celebrate the multicultural makeup of our community. We aim to achieve this by supporting cultural activities within each community, encouraging sharing beeen cultures and promoting understanding and acptanCe, which will benefit our diverse communities. The centre operates with the following values and prosseS to promote.. Social justice Enabling people to claim their human rights, meet their needs and have greater control over the decision-making process which affects their lives. Participation Facilitating democratic involvement by people in the issues, which affect their lives, based on full citizenship, autonomy, and share power, skills, knowledge and experien. Equality Challenge the attitudes of individuals and the practices of institutions and society that discriminate against and marginalise people. Learning Recognise the skills, knowledge and experience that people contribute and develop by taking action to tackle social, economic, political and environmental issues. Co-operation Work together lo identify and implement action, based on mutual respect of diverse cultures and contributions. Public benefit The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities they should undertake.
SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Achievements and performance Young Children & Parents Project (YCPP) The YCPP has continued to run a toddler group 2 days a week during the school term, which is funded by Children in Need. We have 12 families registered with children aged O-5 who attend these sessions, the majority of whom have English as a second language. The children learn through play and all the activities we select for them aids in their development and prepare them for starting school. During the school half terms and summer holidays the YCPP also puts on sessions for children 7 to 14 years old. There is a variety of activities such as arts & craft sessions, sporting activities and activities that celebrate cultural diversity. Mobile Creche We also provide a mobile creche facility where we can supply trained workers and equipment to provide quality childcare for parents who are attending dasses and activities run by a range of cross sector organisations. This year we have provided regular childcare for The Red Cross, NHS Dietetics team and fa painting sessions for Cardiff Council. Lunch Club (funded by the National Lottery) In October 2023, South Riverside Community Development Centre (SRCDC) started a lunch club for local residents who are over 55 years old. The lunch club takes place every Thursday aftemoon and is a good place for people to meet up, chat and play board games and a range of engaging activities. They have a 2-course meal that is freshly cooked using seasonal vegetables. The lunch club regularly caters for about 30 people each session. Believelcredu (funded by Henry Smith) The project has been providing employment and training support to women from ethnic minority communities that are over 25 years of age in our area of benefit. It is ftjnded until January 2026. The project has partnered with several agencies to overcome challenges and barriers such as transport, language and work experience. The project successfully recruited its target participants and mostly participants coming through the door were asking for support with English language development and reading and writing. A celebration of the women's achievement was facilitated at the Illales Principality Stadium as part of International Women's Day and this helped the women reflect on their personal development, distance travelled and has increased their confiden. During the event they presented in front of a large audience in their second language (English). The project has developed from strength to strength and on a regular basis is offering the following,. Get cooking classes, Read and Mfvite sessions, sewing, recyding, digital literacy and a weekly Friends and Neighbours (FAN) Group. The Project has developed positive partnerships with Cardiff Council to deliver the Barista Training, Pedal Power who have facilitated work experience and Cardiff University to deliver a series of courses including Introduction to Law, Human Rights and Social Care. Cardiff Metropolitan Universities- Reaching Wider have supported SRCDC in developing and delivering the Read and Wfrite Model. Suss it Out Suss it Out is funded by the Community Foundation Wales and provides lce {Tuesday & Thursday} weekly sewing workshops that include 3D embroidery workshops. basic and advanced sewng skills, which includes basic alterations, stitching and working wth different materials. The project engages an average of 6-8 women per session.
SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Wyndham Street Pantry The Wndham Street Pantry provides a lce weekly ffuesday 1 pm-6pm & Wednesday 10am-2pm) opportunity for local residents on low incomes to access up to £25 worth of food shopping for £5 {food products vary on a weekly basis). The pantry collaborates with a range of suppliers including Fareshare Cymru, Asda and more recently Costco to respond to food poverty challenges facing residents and the reduction of food waste through the process. The pantry numbers are stable at approximately 60 per week. The pantry has tumed around our food hygiene rating that has increased from a rating of 1 (v. poor) to 4 (good). We are waiting for the next inspectionlresults. The pantry has collaborated with vegetable growers in the area including Cardiff Salad Garden who donated 200 plants that we distributed to residents to encourage both growing and the understanding of where our food comes from. We are still receiving vegetables from Insole court allotment who dedicated an overgrown plot to the pantry. We would like to recognise and celebrate the massive investment in time and effort of our dedicated and valued volunteers who source food on a weekly basis from various suppliers including Costco, Lidl, Aldi, Alex Gooch/Brod bakeries and individual shop donations. The volunteer hours converts to nearly £50,000 per year at living wage (£12 per hour). The volunteers purchased over 5,000 basic items from funding from the Julia and Hans Rausing Trust to ensure members had the basic food such as pasta. chopped tomatoes, etc which are unfortunately no longer available from Fareshare, or other donators on a regular basis. We reported back to the Lottery on the two-year fvnding which finishes at the end of March 2025. They were pleased with the report and have closed the fvnding. This means that they Can now inform us of the funding we submitted for the nexi years for 'Nourishing Riverside, which combines the Pantry, developing the recently cleared garden at Wndham St for growng vegetables. training allotment growing and facilitating food based discussions with residents and families. We look forward to more 'Taste of Riverside, meals cooked from pantry ingredients and supplemented by seasonal veg from the garden. It should be a green yearl Youth Innovation Programme The Grangetown and Riverside Youth Innovation Programmes (fvnded by Cardiff Council} have successfully provided a range of engaging activities aimed at supporting young people's personal development and community engagement. Operating free of charge. the programmes offer diverse activities including sports, creative workshops. health and beauty sessions, and wellbeing workshops, such as musi¢ production and cooking on a budget. Collaboration wth Cardiff Metropolitan University enabled the delivery of free boxing lessons, promoting fitness and emotional resilience. Additionally, initiatives like the Teenage cOnM Inter-Generational Project fostered intergenerational relationships. while partnerships )Mth local businesses. such as Gents of Brooklyn Academy, helped create employment and intemship opportunities. The programmes also focused on raising awareness around issues like bullying, knife crime, etc, with special events during summer, Halloween and Bonfire Night providing fun and educational experiences. Looking ahead to 2025, we are committed to addressing emerging challenges and expanding opportunities to support the continued growth and wellbeing of young people in our community. Resilience for Families Resilience for Families is a 2-year project fijnded by the National Lottery and provides classes and sessions to support families to succeed. The project runs a weekly language café to support participants with conversational English, weekly practicelpreparation sessions to enable participants to complete the 'Life in the UK, British Citizenship test and weekly Read & lte classes. The project has also worked in partnership with Cardiff Council to deliver a series of workshops to improve basic digital skills. Let's Interpret Let's Interpret is a project that provides training and support to enable bilingual and multilingual women in the community to become competent, professional interpreters.
SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 In 2024-25 we welcomed 34 more women into the project, who all successfully completed an accredited, Level 3 course in Public Service Interpreting thanks to the continued support of Cardiff University's Lifelong Learning department. Funding from the 'Volunteering Wales Main Grant. allowed the Let's Interpret project to identify more opportunities for our members to gain voluntary work experien. 46 of our members benefitted from this, undertaking volunteer interpreting or translation assignments for a number of different charikn'es across Cardiff, totalling 140 volunteer hours. Many of our members also gained paid Work experience, providing interpreting services to our partners across the city. We were grateful to continue our successful collaboration wth local mentsl health charity, CCAWS (Community Care and Wellbeing Service) and to initiate new partnerships Trmth other local charities including.. Riverside Advice, Displaced People in Action, Oasis and Yourspace Wellbeing Service. In 2024-25, a total of 230 hours of interpreting provided by our members, have allowed non-English speakers to engage with the important services being delivered by these organisations. The Fullness Project A vibrant community of adults, 55+ years living in Riverside, Canton and Grangetown. Brought together by South Riverside Community Development Centre (SRCDC) and funded by Global Make Some Noise. This project provides a programme of engaging activities, events and trips to enhance health, wellbeing and cultural interests. Our ultimate goals are to reduce social isolation. increase advocacy and support, and improve emotional and physical well-being amongst older residerrts within our localities. We carry out this work through a weekly programme of advocacy and support drop-in sessions that help older people to understand letters, make phone calls and signpost them to appropriate services. We also offer a wide range of weekly engagement activities, including arts and crafts, board games, baking and cooking, singing and local trips. River Music Over the past year, our established arts programme has continued to shape community expectations and engagement. Weekly sessions have engaged 154 participants in a range of activities including= ukulele. piano. drama, urban dance, open rehearsals, Balkan dance, Roma music, art and Arabiclurdu arts. These aclivilies have seen strong and growing participation. Alongside a Royal College performance (30 participants), a series of cultural activities were embedded in our summer and wnter festivals. fostering grassroots expression and cultural exchange such as the African Kora now perfomiing with Women of Guinea Bissau dancers. Our festivals and events brought diverse perfomiances -f rom a Polish choir to country blues artists playing 'Old Town Road" (recorded with parents) to audiences of 2,000, with 100 active participants. Language-focused projects explored the role of art in Islam, through calligraphy with Iranian artist Madiala, Quran recitation, Pakistani poetry, and fabric printing. Music recordings united parents from various groups using Caribbean and mainstream songs. A Ty Cerdd collaboration with Amruta and the ukulele club was featured on BBC Radio Wales and Cardiff Radio, helping raise visibility and morale. We also performed at Black History Month, Afrobeat Delta Lounge, Yma Pontypridd, interfaith rehearsals, Windrush celebrations, and charity events culminating in a 25-person perfomiance at the Sickle Cell Awareness Benefit. New recordings addressed issues like knife crime and Welsh identity, resonating across Riverside's communities. While outcomes have been strong, the sustained enthusiasm from participants highlights a clear need for increased support to continue this vital work. Sustaining Grassroots Empowemient Ifunded by Paul Hamlyn Foundation) The Sustaining Grassroots Empowerment project is a 2-year project funded until 31 March 2026. In partnership with the Bevan Foundation, the project has been designed to increase opportunities and engagement of migrant communities in influencing policy reviews and contributing responses to Welsh Govemment and Cardiff Council consultations.
SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Through a project lead and two community connectors, the project team aim to increase migrant communities, contributions to 10 consultations, develop and publish a migrant community engagement strategy and develop a policy influencing model. During this period the team have been busy building relationships and networks in communities, developing a series of coffee moming and engagement sessions to hear the voices, concerns and aspirations of migrant communities across our localities. Financial review The charity conducts its core activities from its main building in Brunel Street, a freehold building which it owns. The Wyndham Street Centre and The Warehouse are both leased from Cardiff Council. The charity is reporting a deficit of £19,169 for the year ending 31 March 2025 compared to a surplus of £59,252 for the previous year. Unrestricted funds The total unrestricted fvnds at the year end amount to £168.076 (2024= £179,655). This is split beeen general unrestricted fijnds of £71,358 representing the charity's free reserves, a general Pantry fund of £2,876, a general building improvement fund of £47.734 representing the Historic Net Book Value of restricted capital expenditure on building improvements to the warehouse and a fixed asset fund of £46,108 representing the Historic Net Book Value of the remainder of the fixed assets. Reserves policy The charity holds £797,806 in reserves compared to £816,975 in the previous year. The reserves are classified as £168,076 unrestricted and £629,730 restricted. It is the policy of South Riverside Community Development Centre to hold sufficienl reserves to cover at least 6 months of operational costs plus potential redundancy costs. The charity has calculated the unrestricted reserves target as £70,067, therefore the current unrestricted reseNes level of £71,358 is over target. Officers and Trustees will continue to review and monitor the reserves target and levels. Structure, governance and management Legal status The charity is a company, limited by guarantee, registration number 03953683. It is registered with the Charity Commission, number 10803114. Structure The management committee confimis that the annual report and financial statements of the charity comply with the requirements of the charity's goveming documents and the provisions of the Charib'es Statement of Recommended Practice (SORP FRS 102).
SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Reference and administratlve details Charity name South Riverside Community Development Centre Limiled Charity number 1080314 Company number 03953683 Registered office South Riverside Community Development Centre Brunel Street Cardiff Wales CF116ES Secretary Salam Abdul Trustees Ken Barker Wayne Findlay Natalie Hamonda Saif Khan Jacqueline Marshall Jaswant Singh Lorna Stabler Martina Svobodova Sarah Way Keith Abdi Laetilia Paul Maha Hamadelneil Daniel James Priestley resigned 26 September 2024 - resigned 8 May 2024 - appointed 17 Seplefflber 2024 - apwinted 19 November 2024 Independent examlner Azets Audtt Services TyDe Lime Tree Court Cardiff Gate Business Park Cardiff CF23 8AB The trustees, report was approved by the Board of Truslees. 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 Development Centre Ltd (the charity) for the year ended 31 March 2025. 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 with 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 Directions given by the Charity Commission under section 145(5}(b) of the 2011 Act. Independent examinerfs statement Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of Institute of Chartered Accountants in England and Wales. which is one of the listed bodies. 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 wth 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 financial statements 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 concems 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. Andrew Howells Azets Audit Services TyDe Lime Tree Court Cardiff Gate Business Park Cardiff CF23 8AB 2025 Dated..
SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Restricted funds funds 2025 2025 Total Unrestricted Restricted funds funds 2024 2024 Total 2025 2024 Notes Income from: Donations and legacies Charitable activities Investments 46,500 93,486 6,148 318,266 3,171 1,859 364,766 96,657 8,007 32,328 158,589 1,440 316,513 348,841 158,589 1,440 Total income 146,134 323,296 469,430 192,357 316,513 508,870 Ex enditure on: Charitable activities 191.978 296.621 488.599 159,111 290,507 449,618 Net (outgoing)lincoming resources before transfers {45,844) 26.675 (19.169) 33,246 26,006 59,252 Gross transfers between funds 34,265 (34,265) (307,424) 307,424 Net {expenditure)lincome for the yearl Net movement in funds (11.579) (7.590) (19.169) (274,178) 333,430 59,252 Fund balances at 1 April 2024 179,655 637,320 816,975 453,833 303,890 757,723 Fund balances at 31 March 2025 168.076 629.730 797.806 179,655 637,320 816,975 The statement of financial activities indudes all gains and losses re¢ognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. 10-
SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD BALANCE SHEET ASAT31 MARCH 2025 2025 2024 Notes Flxed assets Tangible assets 11 490.943 459.243 Current assets Debtors Cash at bank and in hand 12 14,506 335,341 11,536 376,246 349.847 387,782 Creditors: amounts falling due withln one year 13 (42,984) (30,050) Net cuent assets 306,863 357,732 Total assets le55 Gurrent liabililles 797.806 816,975 Income funds Restricted funds 14 629,730 637.320 Designated funds General unrestricted funds 15 96,718 71,358 57.352 122,303 168.076 179.655 797,806 816,975 The company is enlitled to the exemption from the audit requirement contsined In section 477 of the Companies Act 2006. for the year ended 31 March 2025. The directors acknowledge thelr responsibilities for comptying with the requirements of the Companies Act 2006 wilh respect lo accounting records and the preparation of financial stalements. The members have nol required the company io obtain an audit of its financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordanr£ with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the Trustees on ... ...... ...... Trustae Company registration number 03953683 11
SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Cash flov from operating activities Cash (absorbed by)Igenerated from operations 18 (4,749) 74,576 Investing activities Purchase of tangible fixed assets Investment income received (44,163) 8,007 (52,759) 1,440 Net cash used in investing activities (36.156) {51,319) Net cash used in financing activities Net {decrease)lincrease in cash and cash equivalents (40,905) 23,257 Cash and cash equivalents at beginning of year 376,246 352,989 Cash and cash equivalents at end of year 335.341 376,246 12-
SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies Charity information South Riverside Community Development Centre Ltd is a private company limited by guarantee incorporated in England and Vwdles. The registered Offi is South Riverside Community Development Centre, Brunel Street, Riverside, Cardiff, CF116ES. 1.1 Accounting convention The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. I"FRS 102.) and the Charities SORP "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 20191. The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling. which is the nCtIOnal currency of the charity. Monetary amounts in these financial ststements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. 1.2 Going concem At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees 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. Restricted fvnds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set OLrt in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance 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 On the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or othewse if the charity has been notified of an impending distribution. the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. 13-
SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies {Continued) 1.5 Expenditure Expenditure is recognised On there is a legal or constwctive 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 direct costs and shared costs, induding support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocaled directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activty are apportioned beeen those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequendy 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= Freehold land and buildings Equipment Fixtures and fittings Computers Warehouse Improvements 1 OA straight line 250h straight line 10 % straight line 250h straight line 20h straight line The gain or loss arising on the disposal of an asset is detemiined as the difference beeen the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Impairment of fixed assets At each reporting end date. the charity reviews the carying 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 impaim)ent loss {if any). 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call wth 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. 1.9 Financial instruments The charity has elected to apply the provisions of Section 11 'Basi¢ Financial Instruments. and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balan sheet when the Charity becomes party 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 setue the liability simultsneously. 14-
SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies {Continued) Basic financial assets Basic financial assets, which indude debtors and cash and bank balan$, are initially measured at transaction price 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 al the present value of the fvture receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 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 rate 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 dassified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction pri 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. 1.10 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefils are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide temiination benefits. 1.11 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. 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 underlying 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 only that period, or in the period of the revision and fijture periods where the revision affects both current and future periods. 15-
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SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Charitable activities Unrestricted Unrestricted Funds Funds 2025 2024 Rental Income Other Income The Pantry Membership 77,889 7,466 11,302 115,597 29,520 13,472 96,657 158.589 Analysis by fund Unrestricted funds Restricted ndS 93,486 3,171 158,589 96,657 158,589 Investments Unrestricted Restricted funds funds Total Unrestricted funds 2025 2025 2025 2024 Interest receivable 6,148 1,859 8,007 1,440 19-
SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Charitable activities 2025 2024 staff costs Depreciation and impaimient Project costs Repairs and maintenance Travel and subsistence Premises costs Legal and professional fees Subscriptions Warehouse Refurbishment Purchases 284,765 12,462 109,263 8,203 605 29,619 6,317 1,444 212,039 11,716 135,202 17,839 122 27,090 6,308 1,849 3,068 1,889 4,313 456,991 417.122 Share of support costs (see note 7) Share of governan costs (see note 7) 19,049 12,559 20,605 11,891 488,599 449,618 Analysis by fund Unrestricted funds Restricted fvnds 191,978 296,621 159,111 290,507 488,599 449.618 -20-
SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Support costs Support Governance costs costs 2025 Support Governance costs costs 2024 Sundry Administration Expenses Volunteer Expenses Bank Fees 310 310 3,420 3,420 16,884 16,884 15,304 15,304 1.734 121 1.734 121 1.738 143 1.738 143 Independent examiners fees Accountancy fees 5.700 6.859 5,700 6.859 5,400 6,491 5,400 6,491 19.049 12.559 31.608 20,605 11,891 32.496 Analysed between Charitable activities 19,049 12,559 31,608 20,605 11,891 32,496 Governance costs indudes payments to the independent examiners of £5,700 (2024- £5,400) for independent examination fees. Trustees During the year, Natalie Hamonda was employed by the charity between April and June 2024, and received gross pay of £234.14. In the prior year, Martina Svobodova was paid £740 for Work relating to HR issues and warehouse refurbishment. No trustees were reimbursed for expenses during the current or prior year. Employees The average monthly number of employees during the year was.. 2025 Number 2024 Number Senior Manager Project Managers Project Officers Crechelyouth Workers Cleanerslcaretakers 13 Total 26 26 21
SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Employees {Continued) Employment Costs 2025 2024 Wages and salaries Social security costs Other pension costs 264,910 10,062 9,793 201,068 5,223 5,748 284,765 212,039 Key management personnel The key management personnel of the charty during the period are noted in the trustees report. The total emoluments and benefits received by the key management personnel during the year was £47,128 12024. £21,650). There were no employees whose annual remuneration was more than £60.000. 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 Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 11 Tangible fixed assets Freehold land and buildings Equipment Fixtures and rIng5 Computers Totsl Cost At 1 April 2024 Additions 198,125 26,346 352,772 70,308 17,817 32,698 653,903 44,163 At 31 March 2025 224,471 352,772 88,125 32,698 698,066 Depreciation and impaimient At 1 April 2024 Depreciation charged in the year 87.923 2.045 13,135 7,055 63.731 1,509 29.872 1.853 194.661 12.462 At 31 March 2025 89,968 20,190 65,240 31,725 207,123 Carrying amount At 31 March 2025 134,503 332,582 22,885 973 490,943 At 31 March 2024 110,202 339,638 6,577 2,826 459,243
SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 12 Debtors 2025 2024 Amounts falling due within one year: Trade debtors Prepayments and accrued income 11,743 2,763 11.072 464 14,506 11,536 13 Creditors: amounts falling due within one year 2025 2024 Other taxation and social security Trade creditors Other creditors Accruals and deferred income 4,326 953 5,328 32,377 72 991 28.987 42,984 30,050 -23-
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SOUTH RIVERSIDE COMMUNITY DEVELOPMENT CENTRE LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 17 Related party transactions During the year, Natalie Hamonda was employed by the charity beeen April and June 2024, and received gross pay of £234.14. During the prior year, trustee Martina Svobodova vS paid £740 for work relating to HR issues and warehouse refurbishment. 18 Cash generated from operations 2025 2024 (Deficit)Isurpus for the year (19,168) 59,252 Adjustments for= Investment income recognised in statement of financial activities Depreciation and impairment of tangible fixed assets (8.007) 12.462 {1.440) 11.716 Movements in working Capital.. (Increase}Idecrease in stocks (Increase}Idecrease in debtors Increasel{decrease) in creditors 200 42,523 {37,675) (2,970) 12,934 Cash labsorbed by)Igenerated from operations (4,749) 74,576 19 Analysis of changes in net funds The charity had no debt during the year. 31