REGISTERED COMPANY NUMBER: 04036131 (England and Wales) REGISTERED CHARITY NUMBER: 1090152
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022
FOR
PILLGWENLLY MILLENNIUM TRUST LIMITED
Bevan Buckland LLP Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA
PILLGWENLLY MILLENNIUM TRUST LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | ||
| Notes to the Financial Statements | 8 | to | 15 |
| Detailed Statement of Financial Activities | 16 |
PILLGWENLLY MILLENNIUM TRUST LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 July 2022. The trustees have adopted the provisions of 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).
Page 1
PILLGWENLLY MILLENNIUM TRUST LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022
OBJECTIVES AND ACTIVITIES
The charity provides facilities for recreation and other leisure time activities in the interests of social welfare and with the objective of improving the conditions of life for the community.
Our mission statement is:
"To encourage participation in recreation, leisure and cultural activities which make an important contribution to the stability and well-being of the Pillgwenlly community and the quality of life for individuals"
Our Centre is the hub for the local community of Pillgwenlly. We are a place where people of all different social classes, races, religions, culture and ages come together to take part in sports, recreation, educational and cultural activity. The Centre is fundamental to the health and wellbeing of the local community and we aim to overcome the inequalities faced by people within our community.
Many people in our community face financial hardship and Pillgwenlly is ranked 10 out of 1,939 in the WIMD. Pillgwenlly is a very multicultural and diverse community, home to many people from different ethnic backgrounds. In the most recent census, in 2011, the ethnic minority population stood at 44.8%. The adverse effects of the COVID pandemic have affected the BAME and financially-deprived communities much more than others and many people in our community are struggling. We provide a safe, clean, welcoming and useful community space where we and our partners can host a wide range of services and activities such as sports, exercise, education, training, employment support services and much more. Our partnership approach works well and we are continually building new and exciting relationships with partners, allowing us to continue to introduce new services and activities for the community.
We aim to keep hire costs as low as possible to ensure that partners and people from within the community have access to a community space that is affordable. We offer discounted room- hire and sports rates to clubs, groups and organisations based in Pillgwenlly and this helps to reduce the financial barriers to accessing a quality community space.
The local authority, Newport City Council, is a key strategic partner with whom we have an excellent working relationship and a shared goal of providing much- needed services and activities for the local community. The Central Hub team operates from our Centre offering services such as employment support, training and education opportunities, advice and guidance, family support and community development opportunities. The council also host many other services from our centre including weekly youth and play clubs for children and young people, school holiday play schemes, adult learning opportunities and alternative education facilities for young people who are excluded from main stream schools.
We host a varied and diverse range of important services and activities which include:
-Indoor sporting facilities (football, basketball, badminton etc) -Outdoor 3G sporting facilities (football, rugby etc) -Children's sporting facilities -Martial arts clubs (karate, taekwondo etc) -Roller skating facilities -Gymnastics classes -Dance and exercise classes -Sports and social activities targeted for groups such as BAME, older people and girls -Youth club activities -Play club activities (including holiday provision) -Citizens Advice Bureau EU Settlement surgeries -Employment and training support Family Intervention support -Food bank services -Household cleaning and toiletries support -Weekend out-of-school club for children from BAME backgrounds -Community events -Alternative education services for children with mental health issues EID prayers and events -Facilities for church services Community café -Social groups -Meeting and training facilities
The Centre is extremely important to the health and wellbeing of the community.
All Trustees have regard to the guidance issued by the Charity Commission and each is provided with a copy of PB1, PB2 & PB3.
The contribution made by our volunteers continues to be immense - without them we would struggle to provide the public benefit required.
Page 2
PILLGWENLLY MILLENNIUM TRUST LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022
ACHIEVEMENT AND PERFORMANCE
Between August 2021 to August 2022 the Centre Manager alongside the Trustees secured funding to undertake significant funding for the Centre - around the Sports hall floor; decorations; LED lights; new lights for the 3G; all toilets refit; place windows & doors etc.
Much of this money was secured from Pill Unity/Lottery monies - which we are grateful for - on behalf of the community.
We were able to access other funding support from some other organisations also.
The Centre continuous to be well accessed by the local community as well as partners organising their own events & programmes. We continue to remain open & provide access for essential services.
Fareshare once a week to around 50 families - throughout the year and this provides an important service to people in our community who are struggling to feed themselves and their families.
We ran a number of projects for children and young people as there was a real need to provide them with opportunities to socialise and to part in sports and other activities.
FINANCIAL REVIEW
Financial position
During the year the charity recorded a surplus of £70,235 (£79,253).
As at 31 July 2022 the unrestricted reserves were £156,502 (2021: £125,504) and the restricted reserves were £99,716 (2021: £60,879).
Reserves policy
Reserves are held for the replacement of equipment and maintenance of our leasehold and freehold buildings.
The main risk that the charity faces is an increase in running costs, in particular running costs and the general cost of living crisis affecting the whole of the UK could lead to a decrease in bookings at the Centre.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
04036131 (England and Wales)
Registered Charity number
1090152
Registered office
Pillgwenlly Millennium Centre Courtybella Terrace Newport Gwent NP20 2GH
Trustees
O A Ali C J H England (resigned 11.7.23) J A Rose P A Hammond (resigned 26.7.23) D B Clayden (appointed 15.9.22) S Adan (appointed 2.8.23)
Trustees are selected by invitation to persons with skills the charity lacks.
Independent Examiner
Bevan Buckland LLP Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA
Page 3
PILLGWENLLY MILLENNIUM TRUST LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022
EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Mrs J A Rose - Trustee
Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PILLGWENLLY MILLENNIUM TRUST LIMITED
Independent examiner's report to the trustees of Pillgwenlly Millennium Trust Limited ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2022.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement - matters of concern identified
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
I have completed my examination.
I have identified matters of concern in my report:
-
The records were not maintained adequately. There were records available but these were not kept in a consistent and logical manner.
-
Bank, customer and supplier reconciliations were not carried out.
-
Access to the bank account funds was not restricted to select personnel and the bank mandate was not updated to reflect the changes in trustees.
I confirm that no other matters have come to my attention in connection with the examination giving me reasonable cause to believe that in any material respect:
-
except for the matter of concern noted above accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; and
-
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 confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.
Michael Jones
The Association of Chartered Certified Accountants
Bevan Buckland LLP Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA
Date: .............................................
Page 5
PILLGWENLLY MILLENNIUM TRUST LIMITED
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2022
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 2,190 Charitable activities 3 Community centre 186,156 Total 188,346 EXPENDITURE ON Charitable activities Community centre 155,870 Other 1,078 Total 156,948 NET INCOME 31,398 RECONCILIATION OF FUNDS Total funds brought forward 125,504 TOTAL FUNDS CARRIED FORWARD 156,902 |
Restricted funds £ - 101,994 101,994 59,707 3,450 63,157 38,837 60,879 99,716 |
2022 Total funds £ 2,190 288,150 290,340 215,577 4,528 220,105 70,235 186,383 256,618 |
2021 Total funds £ 7,000 235,357 |
|---|---|---|---|
| 242,357 | |||
| 161,811 1,293 |
|||
| 163,104 | |||
| 79,253 107,130 |
|||
| 186,383 |
The notes form part of these financial statements
Page 6
PILLGWENLLY MILLENNIUM TRUST LIMITED
BALANCE SHEET 31 JULY 2022
| Unrestricted funds Notes £ FIXED ASSETS Tangible assets 8 36,217 CURRENT ASSETS Debtors 9 - Cash at bank 126,142 126,142 CREDITORS Amounts falling due within one year 10 (5,457) NET CURRENT ASSETS 120,685 TOTAL ASSETS LESS CURRENT LIABILITIES 156,902 NET ASSETS 156,902 FUNDS 11 Unrestricted funds Restricted funds TOTAL FUNDS |
Restricted funds £ 75,966 - 23,750 23,750 - 23,750 99,716 99,716 |
2022 Total funds £ 112,183 - 149,892 149,892 (5,457) 144,435 256,618 256,618 156,902 99,716 256,618 |
2021 Total funds £ 35,890 5,766 144,727 |
|---|---|---|---|
| 150,493 - |
|||
| 150,493 | |||
| 186,383 | |||
| 186,383 | |||
| 125,504 60,879 |
|||
| 186,383 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
.............................................
J A Rose - Trustee
The notes form part of these financial statements
Page 7
PILLGWENLLY MILLENNIUM TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared 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' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Government and other grants in relation to tangible fixed asset are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Donations, are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.
Legacy gifts are recognised on a case by case basis following the granting of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and the title to the asset having been transferred to the charity.
Hire income, including hire of office space and the sports hall, is recognised when the hire takes place.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
The cost of generating funds comprises those costs associated with attracting grant income. Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities, both costs directly attributable and indirect support costs. Governance costs include those costs associated with meeting constitutional and statutory requirements of the Charity.
The Charity initially identifies the costs of its support functions. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charities programmes and activities.
All costs allocated between expenditure categories are on a basis designed to reflect their resource usage. For some costs this means direct allocation to activities, other costs are apportioned, e.g. by staff time spent on the activity, or another equitable usage measure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
- Fixtures and fittings 18% reducing balance
The charities policy is to capitalise items purchased costing over £500.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
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PILLGWENLLY MILLENNIUM TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022
1. ACCOUNTING POLICIES - continued
Fund accounting
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Financial instruments
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 business from suppliers. Amounts payable are classified 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 price and subsequently measured at amortised cost using the effective interest method.
2. DONATIONS AND LEGACIES
3.
| Donations INCOME FROM CHARITABLE ACTIVITIES Activity Hire of premises Community centre Cafe income Community centre Grants Community centre Grants received, included in the above, are as follows: Government Grant WCVA Centre Refurbishment Carried forward |
2022 £ 2,190 2022 £ 138,432 47,724 101,994 288,150 2022 £ - 46,874 - 46,874 |
2021 £ 7,000 2021 £ 113,253 891 121,213 |
||
|---|---|---|---|---|
| 235,357 | ||||
| 2021 £ 16,400 26,962 50,000 |
||||
| 93,362 |
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PILLGWENLLY MILLENNIUM TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022
3. INCOME FROM CHARITABLE ACTIVITIES - continued
4.
| INCOME FROM CHARITABLE ACTIVITIES - continued | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Brought forward | 46,874 | 93,362 |
| Other | - | 26,771 |
| BCT Food Parcel | 8,182 | - |
| Co-Op Food Poverty | 1,721 | - |
| Gavo | 3,498 | - |
| Pobl | 5,000 | - |
| Streetgames | 26,707 | - |
| Newport County Council | 2,812 | - |
| Awards for All | 7,200 | - |
| KFC | - | 1,080 |
| 101,994 | 121,213 | |
| NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | ||
| 2022 | 2021 | |
| £ | £ | |
| Depreciation - owned assets | 4,528 | 1,293 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 July 2022 nor for the year ended 31 July 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 July 2022 nor for the year ended 31 July 2021.
6. STAFF COSTS
The average monthly number of employees during the year was as follows:
7.
| Total staff No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies - Charitable activities Community centre 114,144 Total 114,144 EXPENDITURE ON Charitable activities Community centre 85,793 Other 1,293 Total 87,086 |
2022 9 Restricted funds £ 7,000 121,213 128,213 76,018 - 76,018 |
2021 8 Total funds £ 7,000 235,357 |
|---|---|---|
| 242,357 | ||
| 161,811 1,293 |
||
| 163,104 |
Page 10
continued...
PILLGWENLLY MILLENNIUM TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022
| 7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted funds £ NET INCOME 27,058 RECONCILIATION OF FUNDS Total funds brought forward 98,446 TOTAL FUNDS CARRIED FORWARD 125,504 8. TANGIBLE FIXED ASSETS Freehold property £ COST At 1 August 2021 30,000 Additions - At 31 July 2022 30,000 DEPRECIATION At 1 August 2021 - Charge for year - At 31 July 2022 - NET BOOK VALUE At 31 July 2022 30,000 At 31 July 2021 30,000 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Social security and other taxes Other creditors Accrued expenses |
Restricted funds £ 52,195 8,684 60,879 Fixtures and fittings £ 16,454 80,821 97,275 10,564 4,528 15,092 82,183 5,890 2022 £ - 2022 £ 420 37 5,000 5,457 |
Total funds £ 79,253 107,130 |
||
|---|---|---|---|---|
| 186,383 | ||||
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PILLGWENLLY MILLENNIUM TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022
11. MOVEMENT IN FUNDS
| MOVEMENT IN FUNDS | |||
|---|---|---|---|
| Net | |||
| movement | At | ||
| At 1.8.21 | in funds | 31.7.22 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 95,504 | 31,398 | 126,902 |
| Designated Property Fund | 30,000 | - | 30,000 |
| 125,504 | 31,398 | 156,902 | |
| Restricted funds | |||
| Centre Refurbishment | 50,000 | 46,549 | 96,549 |
| Other Restricted Grants | 775 | - | 775 |
| Food Poverty Fund | 2,392 | - | 2,392 |
| KFC | 1,080 | (1,080) | - |
| WCVA VSRF | 6,632 | (6,632) | - |
| 60,879 | 38,837 | 99,716 | |
| TOTAL FUNDS | 186,383 | 70,235 | 256,618 |
| Net movement in funds, included in the above are as follows: | |||
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 188,346 | (156,948) | 31,398 |
| Restricted funds | |||
| WCVA | 6,875 | (6,875) | - |
| Centre Refurbishment | 49,999 | (3,450) | 46,549 |
| Food Poverty Fund | 9,903 | (9,903) | - |
| KFC | - | (1,080) | (1,080) |
| WCVA VSRF | - | (6,632) | (6,632) |
| GAVO | 3,498 | (3,498) | - |
| Streetgames | 16,707 | (16,707) | - |
| NCC - Winter of Wellbeing | 2,812 | (2,812) | - |
| Pobl - Jubilee | 5,000 | (5,000) | - |
| Awards for All - Jubilee | 7,200 | (7,200) | - |
| 101,994 | (63,157) | 38,837 | |
| TOTAL FUNDS | 290,340 | (220,105) | 70,235 |
Page 12
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PILLGWENLLY MILLENNIUM TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022
11. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds General fund Designated Property Fund Restricted funds WCVA Centre Refurbishment Other Restricted Grants Other Restricted Income Food Poverty Fund KFC TOTAL FUNDS |
At 1.8.20 £ 68,446 30,000 98,446 - - - 8,684 - - 8,684 107,130 |
Net movement in funds £ 27,058 - 27,058 6,632 50,000 3,167 (8,684) - 1,080 52,195 79,253 |
Transfers between funds £ - - - - - (2,392) - 2,392 - - - |
At 31.7.21 £ 95,504 30,000 |
|---|---|---|---|---|
| 125,504 6,632 50,000 775 - 2,392 1,080 |
||||
| 60,879 | ||||
| 186,383 |
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Restricted funds Coronavirus Job Retention Scheme WCVA Centre Refurbishment Other Restricted Grants Other Restricted Income KFC TOTAL FUNDS |
Incoming resources £ 114,144 16,400 26,962 50,000 26,771 7,000 1,080 128,213 242,357 |
Resources Movement expended in funds £ £ (87,086) 27,058 (16,400) - (20,330) 6,632 - 50,000 (23,604) 3,167 (15,684) (8,684) - 1,080 (76,018) 52,195 (163,104) 79,253 |
Resources Movement expended in funds £ £ (87,086) 27,058 (16,400) - (20,330) 6,632 - 50,000 (23,604) 3,167 (15,684) (8,684) - 1,080 (76,018) 52,195 (163,104) 79,253 |
|---|---|---|---|
| 52,195 | |||
| 79,253 |
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PILLGWENLLY MILLENNIUM TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022
11. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Designated Property Fund Restricted funds WCVA Centre Refurbishment Other Restricted Grants Other Restricted Income Food Poverty Fund WCVA VSRF TOTAL FUNDS |
At 1.8.20 £ 68,446 30,000 98,446 - - - 8,684 - - 8,684 107,130 |
Net movement in funds £ 58,456 - 58,456 6,632 96,549 3,167 (8,684) - (6,632) 91,032 149,488 |
Transfers between funds £ - - - - - (2,392) - 2,392 - - - |
At 31.7.22 £ 126,902 30,000 156,902 6,632 96,549 775 - 2,392 (6,632) 99,716 256,618 |
|---|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 302,490 | (244,034) | 58,456 |
| Restricted funds | |||
| Coronavirus Job Retention Scheme | 16,400 | (16,400) | - |
| WCVA | 33,837 | (27,205) | 6,632 |
| Centre Refurbishment | 99,999 | (3,450) | 96,549 |
| Other Restricted Grants | 26,771 | (23,604) | 3,167 |
| Other Restricted Income | 7,000 | (15,684) | (8,684) |
| Food Poverty Fund | 9,903 | (9,903) | - |
| KFC | 1,080 | (1,080) | - |
| WCVA VSRF | - | (6,632) | (6,632) |
| GAVO | 3,498 | (3,498) | - |
| Streetgames | 16,707 | (16,707) | - |
| NCC - Winter of Wellbeing | 2,812 | (2,812) | - |
| Pobl - Jubilee | 5,000 | (5,000) | - |
| Awards for All - Jubilee | 7,200 | (7,200) | - |
| 230,207 | (139,175) | 91,032 | |
| TOTAL FUNDS | 532,697 | (383,209) | 149,488 |
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PILLGWENLLY MILLENNIUM TRUST LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2022
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 July 2022.
13. POST BALANCE SHEET EVENTS
After the balance sheet date the charity lost all of its finance staff. The trustees have taken steps to minimise the impact of this, including requesting an independent review of the accounting systems and controls and recruiting and implementing a new team to manage the charity and its finances.
Page 15
PILLGWENLLY MILLENNIUM TRUST LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2022
| INCOME AND ENDOWMENTS Donations and legacies Donations Charitable activities Hire of premises Cafe income Grants Total incoming resources EXPENDITURE Charitable activities Wages Pensions Rates and water Insurance Light and heat Telephone Postage and stationery Advertising Sundries Purchases Motor and travelling Cleaning and refuse collection Subcontractors Computer costs Repairs and renewals Subscriptions Other Depreciation of tangible fixed assets Support costs Finance Bank charges Support costs Accountancy fees Total resources expended Net income |
2022 £ 2,190 138,432 47,724 101,994 288,150 290,340 86,901 555 1,360 4,225 12,153 1,939 777 259 10,773 29,628 25 3,972 46,214 437 10,124 615 209,957 4,528 620 5,000 220,105 70,235 |
2021 £ 7,000 113,253 891 121,213 |
|---|---|---|
| 235,357 | ||
| 242,357 64,554 755 - - - - - - 96,502 - - - - - - - |
||
| 161,811 1,293 - - |
||
| 163,104 | ||
| 79,253 |
This page does not form part of the statutory financial statements
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