Charity number: 1088934 Company number: 03674953 (England and Wales) New Sandfields Aberafan and Afan-Community Regeneration Report of the Trustees and Unaudited Financial Statements For the year ended 31 March 2022 New Sandfields Aberafan and Afan-Community Regeneration Contents Page For the year ended 31 March 2022 |Report of the Trustees|1 to 3| |---|---| |Independent Examiner's Report to the Trustees|4| |Statement of Financial Activities|5| |Statement of Financial Position|6| |Notes to the Financial Statements|7 to 11| |Detailed Statement of Financial Activities|12| ## New Sandfields Aberafan and Afan-Community Regeneration Report of the Trustees For the year ended 31 March 2022 The Trustees, who are also directors for the purposes of company law, have pleasure in presenting their report and th financial statements for the charitable company for the year ended 31 March 2022. The Trustees have adopted th provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparin their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FR 102) (effective 1 January 2019). ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The trustees have considered the Charity Commision's guidance on public benefit, including the guidance 'public benefi running a charity (PB2)'. The promotion for the public benefit of urban or rural regeneration in areas of social and economic deprivation, and i particular, the electoral wards within the electoral constituency known as Aberafan. The advancement of education, training or retraining, particularly amongst unemployed and economically inactive peopl providing work experience opportunities to relieve sickness and to preserve and protect good health. The relief of poverty. To provide recreational facilities for the public at large or those who by reason of their youth, age, infirmity or disablemen poverty or social and economic circumstances have need of such facilities. The maintenance, improvement or provision of public amenities. The promotion of public safety and the prevention of crime. Such other means as May from time to time be determined subject to the prior written consent of the charity commission for England and Wales. ## **Mission statement** Supporting regeneration to enable a better quality of life for communities. ## **Vision statement** Helping communities work together. ## **Values** Public service, leadership, selflessness, integrity, objectivity, honesty, accountability and stewardship. ## **ACHIEVEMENTS AND PERFORMANCE** ## **Significant activities** Activities As of September 2021, staff were brought back with a phased return (following furlough). User groups and community group also started to return and by March 2022, the organisation was fully functioning. ## **FINANCIAL REVIEW** ## **Reserves** It is the policy of the organisation to maintain unrestricted and designated funds to ensure sufficient reserves to meet s months running costs. However in the event of periods of difficult trading this continues to be no longer achievable until th survival strategy disposal of unproductive assets is achieved. ## **FUTURE PLANS** The organisation seeks to maintain its community based regeneration activities based on its capacity for income generation. 1 of 12 ## New Sandfields Aberafan and Afan-Community Regeneration Report of the Trustees Continued For the year ended 31 March 2022 ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The organisation is a charitable company limited by guarantee, incorporated on 27 November 1998. The company wa established under a memorandum which established the objects and powers of the company and is governed under it Articles of Association. The company became a charity pursuant to Special Resolutions passed at its Annual Gener Meeting held on 27 June 2001 and written resolution dated 26 September 2001. Subsequent amendments widening the are of beneficiaries to include the electoral ward of Aberavon and thereby a name change were adopted dated 29 Septemb 2004 and ratified with a written resolution on 9 March 2005. In the event of the company being wound up the director trustee are required to contribute an amount not exceeding £10. On 3 September 2012 AGM, following a year of community consultation the charitable company amended its Memorandu and Articles of Association to include the Constituency of Aberavon in its area of beneficiaries and changed its name. Th changes have been registered with the Charities Commission and Companies House during the financial year 2012/13. ## **Recruitment and appointment of trustees** The directors of the company are also charity trustees for the purposes of charity law and under the company Memorandum and Articles are known as director trustees and members of the Board. Under the requirements of th Memorandum and Articles of Association, the members of the Board are elected at the AGM. The Board has adopte bylaws to allow free membership of the organisation and ensure that of the 18 permitted director trustees, 9 will be residen in the constituency of Aberavon and shall comprise one from each electoral ward, 3 shall be appointed from residents with communities first Wards and 3 shall be from business. In addition, resulting from merger with Youth of Bettws charity, residents from Bettws are eligible to be trustees of the charity. Any vacancy within the Board is advertised prior to the AGM and appropriate nominations invited from the membership of th organisation or by way of introduction in the case of business nominees. The Board has appointed a paid Business Manag who shall direct all operations, business planning, business administration, human resource management, finance an marketing of the company's community regeneration mission. ## Management structure As referred to above, a scheme of delegation within a management structure is in place and the 'day to day' responsibility f the management and delivery of all programmes, projects and services rests with the Business Manager who also manage all development, operations, business planning, business administration, human resource management, finance an marketing of the company's community regeneration mission. This is accomplished via the Business Manager, Financ Officer and Facilities Administrators in the Centres. ## Induction and training of new trustees All trustees are familiar with the running of the organisation. They meet four times a year in scheduled Board meetings an set the budget for the year and decide on the strategic direction of the company for the ensuing year. New trustees ar inducted into their role by the Company Secretary. Most trustees have participated in a "Charity Trustee Responsibilities" training event which we bought in from Bevan an Buckland. They also receive Charity Commission newsletters on the roles of Trustees and related issues. Trustees are very familiar with the running of all aspects of the organisation by receiving the Chief Executive's report and th minutes of the Senior Management team on a monthly basis. Trustees conform to all aspects of charity law and a visit in 2006/07 by the Charities Commission review team helpe strengthen the charity and the role of its trustees. This is reflected in changes in the Memorandum and Articles Association with regard to introducing rotation of Trustees for example. ## **Pay policy for senior staff** Staff Salaries are currently paid to 3 staff members who are entitled to reimbursement of essential expenses only. Trustee are entitled to claim reasonable expenses incurred in travelling to meeting locations. ## **REFERENCE AND ADMINISTRATIVE INFORMATION** ## **Name of Charity** New Sandfields Aberafan and Afan-Community Regeneration **Charity registration number** 1088934 **Company registration number** 03674953 **Principal address** Nsa Afan Employment Academy Dalton Road Sandfields 2 of 12 New Sandfields Aberafan and Afan-Community Regeneration Report of the Trustees Continued For the year ended 31 March 2022 Port Talbot SA12 6SF ## **Trustees** The trustees and officers serving during the year and since the year end were as follows: Gary Roberts Robert William Thomas Cherryman David Gage Derek Edwards Sylvia Kathleen Jones **Secretary** Sian Rooney **Independent examiners** Daniel Perrin & Co Limited 9 Stanley Place Cadoxton Neath SA10 8BE Approved by the Board of Trustees and signed on its behalf by Gary Roberts 31 January 2023 3 of 12 ## New Sandfields Aberafan and Afan-Community Regeneration Independent Examiners Report to the Trustees For the year ended 31 March 2022 I report to the trustees on my examination of the accounts of the charitable company for the year ended 31 March 2022. ## **Responsibilities and basis of report** As the charity Trustees, who are also directors for the purposes of company law, are responsible for the preparation of th accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act an are eligible for independent examination, I report in respect of my examination of your charity's accounts carried out und section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given b the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiners statement** I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view' which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. ## _Daniel Perrin_ Daniel Perrin FCCA Daniel Perrin & Co Limited 9 Stanley Place Cadoxton Neath SA10 8BE 31 January 2023 4 of 12 ## New Sandfields Aberafan and Afan-Community Regeneration Statement of Financial Activities (including Income and Expenditure Account) For the year ended 31 March 2022 |**Notes**
**Income and endowments from:**
Charitable activities
2
**Total**
**Expenditure on:**
Charitable activities
3/4
**Total**
**Net income/expenditure**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**£**
74,229
**74,229**
(125,263)
**(125,263)**
**(51,034)**
295,339
**244,305**|**202**
149,93| |---|---|---| |||**149,93**| |||(101,64| |||**(101,64**| |||**48,29**
247,04
**295,33**| 5 of 12 Registered Number : 03674953 ## New Sandfields Aberafan and Afan-Community Regeneration Statement of Financial Position ## As at 31 March 2022 |**Fixed assets**
**Notes**
Tangible assets
9
Investments
**Current assets**
Debtors
10
Cash at bank and in hand
**Creditors: amounts falling due within one year**
11
**Net current assets**
**Total assets less current liabilities**
**Creditors: amounts falling due after more than one year**
12
**Net assets**
**The funds of the charity**
Unrestricted income funds
13
**Total funds**||**2022**
**£**
431,467
9,800|
|**202**
431,46
9,80
**441,26**
19,17
87,07
**106,24**
(30,65
**75,59**
**516,86**
(221,52
**295,33**
295,33
**295,33**| |---|---|---|---|---| |||**441,267**||| |||25,634

68,856||| |||**94,490**||| |||(37,725)
**56,765**||| |||**498,032**||| |||(253,727)||| |||**244,305**||| |||||| |||244,305
**244,305**||| For the year ended 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companie Act 2006 relating to small companies. - The members have not required the company to obtain an audit of its accounts for the year in question in accordanc with section 476, - The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accountin records and the preparation of accounts. These accounts have been prepared in accordance with the provision applicable to companies subject to the small companies’ regime. The financial statements were approved and authorised for issue by the Board and signed on its behalf by: Gary Roberts Trustee 31 January 2023 6 of 12 New Sandfields Aberafan and Afan-Community Regeneration Notes to the Financial Statements For the year ended 31 March 2022 ## **1. Accounting Policies** ## **Basis of accounting** The financial statements have been prepared under the historical cost convention, except for investments which are included at market value and the revaluation of certain fixed assets and in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and the Companies Act 2006. New Sandfields Aberafan and Afan-Community Regeneration meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). ## **2. Income from charitable activities** |**Unrestricted funds**
Income from charitable
activities
**osts of charitable activities by fund type**
**Unrestricted funds**
Charitable activities
Support costs|**2022**
74,229
**2022**
**£**
94,643
30,620
**125,263**|**202**
149,93
**202**
86,97
14,67
**101,64**| |---|---|---| ## **3. Costs of charitable activities by fund type** ## **4. Costs of charitable activities by activity type** ||**Activities**|**Grant**|**Support**|**2022**|**202**| |---|---|---|---|---|---| ||**undertaken**|**funding of**|**costs**||| ||**directly**|**activities**|||| ||**£**|**£**|**£**|**£**|| |**Support costs**|||||| |Charitable activities|40,971|53,672|30,620|125,263|101,64| 7 of 12 ## New Sandfields Aberafan and Afan-Community Regeneration Notes to the Financial Statements Continued For the year ended 31 March 2022 ## **5. Analysis of support costs** Support costs – including regeneration costs |**2022**|**2021**| |---|---| |**£**|| |30,620|14,67| ## **6. Net income/(expenditure) for the year** |This is stated after charging/(crediting):||| |---|---|---| ||**2022**|**202**| ||**£**|| |Depreciation of owned fixed assets|40,971|40,97| |Staff pension contributions|842|72| ## **7. Staff costs and emoluments** |Total staff costs for the year ended 31 March 2022 were:||| |---|---|---| ||**2022**|**202**| ||**£**|| |Salaries and wages|52,830|45,27| |Pension costs|842|72| ||**53,672**|**46,00**| ||**2022**|**202**| |Administration|1|1| |Management|1|1| ||**2**|| ## **8. Comparative for the Statement of Financial Activities** The comparative year values on the Statement of Financial Activities are for unrestricted funds. 8 of 12 ## New Sandfields Aberafan and Afan-Community Regeneration Notes to the Financial Statements Continued For the year ended 31 March 2022 ## **9. Tangible fixed assets** |**Cost or valuation**
At 01 April 2021
At 31 March 2022
**Depreciation**
At 01 April 2021
At 31 March 2022
**Net book values**
At 31 March 2022
At 31 March 2021
**Amounts due within one year:**
Trade debtors
Prepayments and accrued income|**Land and**
**Buildings**
**£**
688,276
**688,276**
279,187
**279,187**
**409,089**
**409,089**|**Fixtures and**
**Fittings**
**£**
264,931
**264,931**
242,553
**242,553**
**22,378**
**22,378**

**2022**
**£**
19,384
6,250
**25,634**|**Tot**
953,20
**953,20**
521,74
**521,74**
**431,46**| |---|---|---|---| ||||**431,46**| ||||**202**
12,92
6,25
**19,17**| ## **11. Creditors: amounts falling due within one year** |Trade creditors
Other creditors
Accruals and deferred income|**2022**
**£**
17,250
20,475
-
**37,725**|**202**
17,81
7,59
5,25
**30,65**| |---|---|---| 9 of 12 ## New Sandfields Aberafan and Afan-Community Regeneration Notes to the Financial Statements Continued ## For the year ended 31 March 2022 ## **12. Creditors: amounts falling due after more than one year** |Loans and overdrafts
The following liabilities disclosed under creditors falling due after more than one year are secured by
Bank loans and overdrafts|**2022**
**£**
253,727
**253,727**
the charity:
253,727

**253,727**|**202**
221,52| |---|---|---| |||**221,52**| |||221,52
**221,52**| |||| ## **13. Movement in funds** ## **Unrestricted Funds** |_General_
General
**Unrestricted Funds - Previous year**
_General_
General|**Balance at**
**01/04/2021**
**£**
295,339
**295,339**|**Incoming**
**resources**
**£**
74,229
**74,229**|**Outgoing**
**resources**
**£**
(125,263)
**(125,263)**|**Balance**
**31/03/202**
244,30| |---|---|---|---|---| |||||**244,30**| ||**Balance at**
**01/04/2020**
**£**
247,048
**247,048**|**Incoming**
**resources**
**£**
149,937
**149,937**|**Outgoing**
**resources**
**£**
(101,646)
**(101,646)**|**Balance**
**31/03/202**
295,33
**295,33**| |||||| ## **Purpose of unrestricted Funds** ## General The advancement of education, training or retraining, particularly amongst unemployed and economically inactive people providing work experience opportunities to relieve sickness and to preserve and protect good health. 10 of 12 ## New Sandfields Aberafan and Afan-Community Regeneration Notes to the Financial Statements Continued For the year ended 31 March 2022 ## **14. Analysis of net assets between funds** |General
**Unrestricted funds**
_General_
**Previous year**
**Unrestricted funds**
_General_
General|431,467
9,800
56,765
(253,727)
244,30
**Tangible**
**Investments**
**Net current**
**Creditors >**
**Net Asse**
**fixed assets **
**assets /**
**one year**
**£**
**£**
**(liabilities)**
**£**
**£**| |---|---| ||**431,467**
**9,800**
**56,765**
**(253,727)**
**244,30**| ||**Tangible**
**fixed assets**
**Investments**
**Net current**
**assets /**
**(liabilities)**
**Creditors >**
**one year**
**Net Asse**
**£**
**£**
**£**
**£**
431,467
9,800
75,597
(221,525)
295,33
**431,467**
**9,800**
**75,597**
**(221,525)**
**295,33**| ||**431,467**| 11 of 12 ## New Sandfields Aberafan and Afan-Community Regeneration Detailed Statement of Financial Activities For the year ended 31 March 2022 |**INCOME AND ENDOWMENT**
**Charitable activities**
Income from charitable activities
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Cost of direct charitable activity
Cost of grant funded charitable activity
**SUPPORT COSTS**
Regenerations costs
**Total resources expended**
**Net Expenditure**|**2022**
**£**
74,229
**74,229**
**74,229**
(40,971)
(53,672)
**(94,643)**
(30,620)
**(30,620)**
**(125,263)**
**(51,034)**|**2021**
**£**
149,937| |---|---|---| |||**149,937**| |||**149,937**
(40,971)
(46,000)| |||**(86,971)**
(14,675)| |||**(14,675)**| |||**(101,646)**
**48,291**| 12 of 12 This page does not form part of the statutory financial statements