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← Pillgwenlly Millennium Trust Limited

2024-07-31-accounts

REGISTERED COMPANY NUMBER: 04036131 (England and Wales) REGISTERED CHARITY NUMBER: 1090152

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY2024

FOR

PILLGWENLL Y MILLENNIUM TRUST LIMITED

Bevan Buckland LLC Ground Floor Cardigan House Castle Court Swansea Enterprise ParK Swansea SA? 9LA

PILLGWENLL Y MILLENNIUM TRUST LIMITED

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

Page
Report of the Trustees to 3
Independent Examiner's Reoort 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Financial Statements 7 7
to14
Detailed Statement of Financial Activities 15

PILLGWENLL Y MILLENNIUM TRUST LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024

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 2024. 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).

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 communitv.

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.

Page 1

PILLGWENLL Y MILLENNIUM TRUST LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024

We host a varied and diverse range of important services and activities which include:

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.

ACHIEVEMENT ANO PERFORMANCE

The Centre continues 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 orojects for children and young people as there was a real need to provide them with opportunities to socialise and to oart in soorts and other activities.

FINANCIAL REVIEW

Financial position

During the year the charity recorded a deficit of £49,428 (2023: £70,409 surplus).

As at 31 July 2023 the unrestricted reserves were £277,599 (2023: £218,181) and the restricted reserves : were £nil (2023: £108,846).

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)

Page 2

PILLGWENLL Y MILLENNIUM TRUST LIMITED

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2024

Registered Charity number 1090152

Registered office

Pillgwenlly Millennium Centre Courtybella Terrace Newport Gwent NP20 2GH

Trustees

0 A Ali (resigned 26.6.24) JA Rose S Adan (appointed 2.8.23) M Ali (appointed 15.2.24) R Fury (appointed 28.6.24) C Ormond (appointed 1.8.23) A Paetel (appointed 2.8.23) A Abdulai (appointed 14.1.25) U Khan (appointed 11.1.25) T Pearce (appointed 10.1.25)

Trustees are selected by invitation to persons with skills the charity lacks.

Independent Examiner

Bevan Buckland LLP Ground Floor Cardigan House Castle Court Swansea Enterorise Park Swansea SA? 9LA

Approved by order of the board of trustees on 30 April 2025 and signed on its behalf by:

JA Rose - Trustee

Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PILLGWENLL V 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 2024.

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

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:

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.

Michael Jones

The Association of Chartered Certified Accountants

Bevan Buckland LLP Ground Floor Cardiaan House - Castle Court Swansea Enterorise Park Swansea SA7 9LA

30 April 2025

Page 4

PILLGWENLL Y MILLENNIUM TRUST LIMITED

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2024
2024 2023
Unrestricted Restricted Total Total
funds funds funds funds
Notes £ £ £ £
INCOME AND ENDOWMENTS FROM
Charitable activities 2
Sommunity centre 164,613 164,613 268,621
EXPENDITURE ON
Charitable activities
Community centre 187,043 187,043 169,390
Other 7,406 19,592 26,998 28,822
Total 194,449 19,592 214,041 198,212
NET INCOME/(EXPENDITURE)
Transfers between funds		 10 (29,836)
89,254		 (19,592)
(89,254)		 (49,428) 70,40<:1
Net movement in funds 59,418 (108,846) (49,428) 70,409
RECONCILIATION OF FUNDS
Total funds brought forward 218,181 108,846 327,027 256,618
TOTAL FUNDS CARRIED FORWARD 277,599 277,599 327,027

The notes form part of these financial statements

Page5

PILLGWENLL Y MILLENNIUM TRUST LIMITED

BALANCE SHEET 31 JULY2024

2024 2023
Unrestricted Restricted Total Total
funds funds funds funds
Notes £ £ £ £
FIXED ASSETS
Tangible assets 7 152,991 152,991 179,989
CURRENT ASSETS
Debtors 8 2,665 2.665
Cash at bank 135,764 135,764 154,075
138,429 138,429 154,075
CREDITORS
Amounts falling due within one year 9 (13,821) (13,821 ) (7,037)
NET CURRENT ASSETS 124,608 124,608 147,038
TOTAL ASSETS LESS CURRENT LIABILITIES 277,599 277,599 327,027
NET ASSETS 277,599 277,599 327,027
FUNDS 10
Unrestricted funds 277,599 218,181
Restricted funds 108,846
TOTAL FUNDS 277,599 327,027

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 4 76 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

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 30 April 2025 and were signed on its behalf by:

JA Rose - Trustee

The notes form part of these financial statements

Page6

PILLGWENLL Y MILLENNIUM TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

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 Reparting 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 suppart 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.

The charities policy is to capitalise items purchased costing over £500.

Taxation

The charity is exempt from corporation tax on its charitable activities.

continued ...

Page7

PILLGWENLL V MILLENNIUM TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE VEAR ENDED 31 JUL V 2024

1. ACCOUNTING POLICIES - continuea

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when soecified 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.

Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Financial instruments

The company has elected to apply the orovisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company 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 settle the liability simultaneouslv.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, 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 at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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 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.

Page8

continued ...

PILLGWENLL Y MILLENNIUM TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024

1. ACCOUNTING POLICIES - continued

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Creditors

Short term trade creditors are measured at the transaction price. Other financial liabilities. including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest methoc

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2.

INCOME FROM CHARITABLE ACTIVITIES

2024 2023
Activity £ £
Hire of premises Community centre 164,613 170,501
Cafe income Community centre 26,598
Grants Community centre 71,522
164,613 268,621

Grants received. included in the above. are as follows:

Grants received. included in the above. are as follows:
2024 2023
£ £
Pobl 15.000
Streetgames
The National Lottery Community Fund		 747
11,775
Welsh Government 25.000
The Julia and Hans Rausing Trust 19.000
71,522

3.

NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting)·

2024 2023
£ £
IJepreciation - owned assets 26,998 28,822
--- ---

continued . .

Page9

PILLGWENLL Y MILLENNIUM TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 July 2024 nor for the year ended 31 July 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 July 2024 nor for the year ended 31 July 2023.

5.

6.

STAFF COSTS

STAFF COSTS
2024 2023
£
Wages and salaries 102,385 105,921
Other pension costs 860 822
106,743
The average monthly number of employees during the year was as follows:
2024 2023
Total staff 8 9
--
No employees received emolumentsinexcess of £60,000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted Tota!
funds funds funds
£ £
INCOME AND ENDOWMENTS FROM
,;,haritable activities
Community centre 197,099 71,522 268,621
EXPENDITURE ON
Charitable activities
Community centre 134,701 34,689 169,390
Other 1,119 27,703 28,822
Total 135,820 62,392 198,212
NET INCOME 61,279 9,130 70,409
RECONCILIATION OF FUNDS
fatal funds brought forward 156,902 99,716 256,618
TOTAL FUNDS CARRIED FORWARD 218,181 108,846 327,027

Page 10

continued ...

PILLGWENLL Y MILLENNIUM TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JUL V 2024

7. TANGIBLE FIXED ASSETS

8.

9.

10.

TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£ £ £
COST
At 1 August 2023 and 31 July 2024 30,000 193,903 223,903
DEPRECIATION
At 1 August 2023 43,914 43,914
Charge for year 26,998 26,998
At 31 July 2024 70,912 70,912
NET BOOK VALUE
At 31 July 2024 30,000 122,991 152,991
At 31 July 2023 30,000 149,989 179,989
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 2,665
--
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Social security and other taxes 9,674
Other creditors 147 37
Accrued expenses 4,000 7,000
13,821 7,037
---
MOVEMENT IN FUNDS
Net Transfers
movement between At
At 1.8.23 in funds funds 31.7.24
£ £ £ f:
Unrestricted funds
General fund
Designated Property Fund		 152,137
30,000		 (23,348) 128,789
30,000
Designated Centre Refurbishment 36,044 (6,488) 89,254 118,810
218,181 (29,836) 89,254 277,599
Restricted funds
Centre Refurbishment 108,846 (19,592) (89,254)
TOTAL FUNDS 327,027 (49,428) 277,599

Page 11

continued ...

PILLGWENLL Y MILLENNIUM TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024

10. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources exoended in funds
£ £ £
Unrestricted funds
General fund 164,613 (187,961) (23,348)
Designated Centre Refurbishment (6,488) (6,488)
164,613 (194,449) (29,836)
Restricted funds
C:entre Refurbishment (19,592) (19,592)
TOTAL FUNDS 164,613 (214,041) (49,428}

Comparatives for movement in funds

Comparatives for movement in funds
Net Transfers
movement between At
At 1.8.22 in funds funds 31.7.23
£ £ £ £
Unrestricted funds
General fund 126,902 61,279 (36,044) 152,137
Designated Property Fund 30,000 30,000
Designated Centre Refurbishment 36,044 36,044
156.902 61,279 218,181
Restricted funds
Centre Refurbishment 96,549 12,297 108,846
Other Restricted Grants
Food Poverty Fund		 775
2,392		 (775)
(2,392)
99,716 9,130 108,846
TOTAL FUNDS 256,618 70,409 327,027

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Movement
resources exoended in funds
£ £ £
Unrestricted funds
General fund 197,099 (135,820) 61,279
Restricted funds
Centre Refurbishment 40,000 (27,703) 12,297
Other Restricted Grants (775) (775)
Food Poverty Fund 19,000 (21,392) (2,392)
Streetgames 747 (747)
Awards for All 2,700 (2,700)
National Lottery - Fit and Fed 9,075 (9,075)
71,522 (62,392) 9,13C
TOTAL FUNDS 268,621 (198,212) 70,409

Page 12

continued ...

PILLGWENLLY MILLENNIUM TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024

10. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Net Transfers
movement between At
At 1.8.22 in funds funds 31.7.24
£ £ £ £
Unrestricted funds
General fund 126,902 37,931 (36,044) 128,789
Designated Property Fund
Designated Centre Refurbishment		 30,000 (6,488) 125,298 30,00U
118,810
156,902 31,443 89,254 277,599
Restricted funds
Centre Refurbishment 96,549 (7,295) (89,254)
Other Restricted Grants
Food Poverty Fund		 775
2,392		 (775)
(2,392)
99,716 (10,462) (89,254)
TOTAL FUNDS 256,618 20,981 277,599

TOTAL FUNDS

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 361,712 (323,781) 37,931
Designated Centre Refurbishment (6,488} (6.488)
Restricted funds 361,712 (330,269) 31.443
Centre Refurbishment 40,000 (47,295) (7,295)
Other Restricted Grants (775) (775)
Food Poverty Fund 19,000 (21,392) (2,392)
Streetgames 747 (747)
Awards for All
National Lottery - Fit and Fed		 2,700
9,075		 (2,700)
(9,075)
71,522 (81,984) (10,462)
TOTAL FUNDS 433,234 (412,253) 20,981

Unrestricted funds

Designated Property Fund - This relates to the value of the property held by the charity.

Designated Centre Refurbishment - This relates to the value of centre refurbishment works.

Restricted Funds

WCVA - a grant to be used towards keeping the centre open to support members of the local community during the cost of living crisis.

Centre Refurbishment - restricted monies received to be used to renovate the community centre. Other Restricted Grants - small restricted grants received for various purposes.

Food Poverty Fund - monies received to be used to provide food parcels and food bank services to the local community.

KFC - grant to support activities for young people.

GAVO - grant to provide support to the local community.

Streetgames - funding received towards centre activities.

Page 13

continued ...

PILLGWENLLY MILLENNIUM TRUST LIMITED

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2024

10. MOVEMENT IN FUNDS - continued

NCC - Winter of Wellbeing - funding from Welsh Government to support children and young people to recover from the negative effects of the COVID-19 pandemic.

Pobl - Jubilee - a grant towards celebrations for the Queen's Platinum Jubilee. Awards for All - funding for activities for the local community.

National Lottery - Fit and Fed - funding received to provide meals and activities to local children during the school holidays.

Transfers to the Designated Centre Refurbishment fund have been made where funding conditions on the centre refurbishment works have been met.

11.

RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 July 2024.

Page 14

PILLGWENLL Y MILLENNIUM TRUST LIMITED

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2024

FOR THE YEAR ENDED 31 JULY 2024 FOR THE YEAR ENDED 31 JULY 2024
2024 2023
£ £
INCOME AND ENDOWMENTS
Charitable activities
Hire of premises 164.613 170,501
Cate income 26.598
Grants 71.522
164,613 268,621
Total incoming resources 164,613 268,621
EXPENDITURE
Charitable activities
Wages 102,385 105,921
Pensions 860 822
Rates and water 3,845 5,482
Insurance 4.869 4.565
Light and heat 18,232 16,385
Telephone 1.163 1.682
Postage and stationery 2,632 641
Advertising 1.275
Sundries 2,165 812
Purchases 7,210 11.195
Motor and travelling
Cleaning and refuse collection		 1,789
5,439		 256
4,574
8,968 .
Computer costs 2,753 407
Repairs and renewals 7,062 12,624
Subscriptions 6,672 1,077
177,319 166,443
Other
Depreciation of tangible fixed assets 26,998 28.822
Support costs
Finance
Bank charges 594 744
Support costs
Accountancy fees 8,730 2,000
Legal fees 400 203
9,130 2,203
Total resources expended 214,041 198,212
Net (expenditure)/income (49,428) 70,409

This page does not form part of the statutory financial statements

Page 15