COMPANY REGISTRATION NUMBER: 04284605 CHARITY REGISTRATION NUMBER." 1091052 Fishguard and Goodwick Young Person's Trust Ltd Company Limited by Guarantee Unaudited Financial Statements 31 May 2024 PRITCHARD & CO Chartered Certified Accountsnts Ffynnonddofn 74 High Street Fishguard Pembrokeshire SA65 9AU Fishguard and Goodwick Young Person's Trust Ltd Company Limitsd by Guarantee Financial Statements Year ended 31 May 2024 Page Trustees, annual report (incorporating the directorfs report) Independent examinerfs report to the trustees Statement of financial activities (including income and expenditure account) Statement of financial position Notes to the financial statements The following pages do not fomi part of the financlal statemonts Detailed statement of financial activities 21 Notes to the detailed statement of financial actNities 22-25 Appendix1 Detailed trustees report 1-12 Fishguard and Goodwick Young Person's Trust Ltd Company Limited by Guarantse Trustses, Annual Report (Incorporating the Directorfs Report) Year ended 31 May 2024 The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 May 2024. Reference and administratlve detall8 Registèred charlty name Fishguard and Goodwick Young Person's Trust Ltd Charity reglstratlon number 1091052 Company registratlon number 04284605 Princlpal office and regl8tered Popworks offlce Parc-y-shwi Fishguard Pembrokeshire SA65 9AP Wales The trustees MPWorth N P Thomas P L Morgan ADCare K Davies E R Evans R Kedward P A Davies J L J Spencer D V D Harries (resigned 10 January 2024) (resigned 27 November 2024) (appointed 10 January 2024) Company so¢ret•ry N P Thomas Independent examinar lan IAfjlliams Chartered CertifRd Accountant Ffynnonddofn 74 High Street Fishguard Pembrokeshire SA65 9AU Structure, governance and management See detaI￿d trustees report (Appendix 1). Objectlves and activltle8 See detailed trustees report (Appendix l ). Fishguard and Goodwick Young Person's Trust Ltd Company Llmited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) {¢ontlnu•d) Year ended 31 May 2024 Strategic report See detailed trustees report {Appendix l ). Achievements and perforniance See detailed trustees report (Appendix 1). Financlal review See detailed trustees report {Appendix 1). The trustees, annual report and the strategtc report We￿ approved on ...... on behalf of the board of trustees by. MPWorth Trustee Fishguard and Goodwick Young Person's Trust Ltd Company Limitsd by Guarantee Independent Examinerfs Reportto the Trustsas of Fishguard and Goodwick Young Person's Trust Ltd Year ended 31 May 2024 I report to the trustees on my examination of the financial siatements of Fishguard and Goodwick Young Person's Trust Ltd ('the charty,) for the year ended 31 May 2024. Responsibllities and basis of report As the trustees of the company (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 accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, l ￿port in respect of my examination of the charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Acf). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)Ib) of the 2011 Act. Independent examlnefs statement Since the charity's gross income exceeded £250,000 your examiner must be a member of a body liste(l in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountsnts in England and Wales (ICAEW), which is one of the Ilsted bodles. I have completed my examination. l ¢onfinn that no matters have come to my attention in connection with the examinats'on giving me cause to believe: 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 with those records; or the financial statements do not comply with the accounting reqU1reff￿nts of saction 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). Fishguard and Goodwick Young Person's Trust Ltd Company Limited by Guarantse Independent Examiner's Report to the Trustse8 of Fishguard and Goodwick Young Person's Trust Ltd (w?tinu•d) Year ended 31 May 2024 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 reachéd. lan Williams Chartered Certified Accountant Independent Examiner Ffynnonddofn 74 High Street Fishguard Pembrokeshire SA65 9AU 1015 Fishguard and Goodwlck Young Person's Trust Ltd Company Limitsd by Guarantee statement of Financial Activities (including income and expenditure account) Year ended 31 May 2024 2024 Restricted funds Totsl funds Total funds 2023 Unrestricted funds Income and endowments Donations and legacies Chsritable a¢tivities Other trading activities Investment income 11,611 10,122 7,199 2,307 31,239 241,113 252,724 10,122 7,385 2,307 272,538 302,788 8,675 2,898 716 186 Totsl income 241,299 313,077 Expgnditure Expenditure on raising funds-. Costs of other trading activities Expenditure on charitable activities Total expenditure 518 304,754 10,11 14,717 237.639 252,356 14,717 237,639 252,356 305,272 Net Incom• and net movement in fundg 16,522 3,660 20,182 7,805 Re¢oncillatlon of funds Total funds brought forward Total funds carrled forward 138,537 57,408 195,945 188,140 195,945 155,059 61.068 216,127 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 8 to 19 forn) part of the80 flnanclal statoment•. Fishguard and Goodw'ck Young Person's Trust Ltd Company Limited by Guarantee Statement of Financial Position 31 May 2024 2024 2023 Fixed assets Tangible fixed assets 17 1.041 2,096 Current assets Debtors Cash at bank and in hand 18 21,284 198,297 198,636 219,581 198,636 Creditors: amounts falllng due wlthln one year Net current assets 19 4,495 4,787 215,086 193,849 Total assets less current liabilities 216,127 195,945 195,945 Net assets 216,127 Funds of the charlty Restricted funds Unrestricted funds 61,068 155,059 57,408 138,537 Total charity funds 21 216,127 195,94S For the year ending 31 May 2024 the charity was entFtled to exemption from audit under section 477 of the Companies Act 2006 relating to small compani8S. Directors, responsibilities.. The members have not required the company to obtain an audit of its financial statemènts for the year in question in accordance with section 476; The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial ststements have been pr6pared in accordance with the provisions applicable to companies subject to the small companies. regime. The statement of financial position continues on the following page. The notw on pag•8 8 to 19 torni part of thès? Ilnarteial $tst•m•nts. Fishguard and Goodwick Young Person's Trust Ltd Company Limitsd by Guarantee Ststsment of Financial Position (c¢>ntinued) 31 May 2024 These financial statements were approved by the board of trustees and authorised for issue on 10 January 2025. and are signed on behalf of the board by: ￿-￿- MPWorth Trustee N P Thomas Trustee P L Morgan Trustee The notss on pages 8 to 19 form part of these financial statements. Fishguard and Goodwick Young Person's Trust Ltd Company Limlted by Guarantee Notes to the Financial Statements Year ended 31 May 2024 General infornmtion The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Popworks, Parc-y-shwt, Fishguard, Pembrokeshire. SA65 gAP, Wales. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,. the 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) (Charities SORP {FRS 102)) and the Companies Act 2006. Accounting pollcies Basis of preparatlon The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measurèd at fair value through income or expenditure. The financial ststements are prepared in sterling, which is the functlonal currency of the entty. Going concern There are no material uncertainties about the charity's abilty to continue. Judgements and key sources of estlmatlon uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported These estimates and judgements are continually reviewed and are based on experience and other factots, including expectations of future events that are believed to ba r6asonable under the circumstances. Fund accounting Unrestricted funds are available for use at the discretion of the tru$tees to further any of the charity's Purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and f811 into one of two sub) 4fJ 7J IPJII A4• IqT.1J ** 47 x4 J•1 IF.W IFAIV Il,BSI Fi•hguard & Goodwick Young P•rsons' Tntst Ltd F5nancial Activstiés - Small Restricted Funds For The Year Ended 31 May 2024 flthquard PA￿ LI￿n0 W•ll & w￿¢¢￿tn9 Llo ¢orrmunlty Ttstal sm￿1 Club Spa¢M Furt4 Prfnciwlity Grants ¢hilrfrnn & CWY¥S Good*iék Job CorymFNll•• CommU￿ty &pport C¢nty• Additron* Futyj ¥ch•rn¢ Coun¢0 pi 1.1QO 1,10 17219 T￿11 Lry4Gi cipwTr**¢ T*)tsl InGQD 17,$19 1706 %7,$73 17.975 Tth•l 4.407 tn9L¥4A¢•Exw ?,010 1,41$ E¥atyJ•t T*tsl A¢eouf¢GW• ¢oMS 792 20 20 OfflL• E¥pèrt kyirts4￿ P14tht•n•ilthl 247 2.179 2,179 %1,163 74 24 3Z1 75 16 $37 1709 •nd 413 ¥3 T22 122 T41th1 1.a¢2 *7Q¥ ?s a¢,J67 Tt*l Chvttablb A¢*¥itvDB Expim t,$65 -3.794 3.709 10,4 3.3 7,693 25 FISHGUARD AND GOODWICK YOUNG PERSON'S TRUST LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDING 31" MAY 2024 ts INTRODucfioN ts The Trustees are delighted to share our vibrant annual report and consolidated financial statements for.the year ending 31st May 2024. Prepared in line with Companies Act requirements and the SORP {FRS 102) standards, this report celebrates a year of remarkable growth, resllience, and community impact, OUR MISSION & PURPOSE "Empowerlng the Future of North Pembrokeshire" Objectives and Alms As set out in the Articles, the purposes of the charity are the advancement of young persons, aged 11-25 who are resident in the stated areas of North Pembrokeshire, through the promotion of their spirltual, social, moral, cultural and physical development. The charit¢s mission statement is (updated in July 2024}'. "We provide a bespoke provision which meets the ever-changing wonts and needs of young people 17ged 10- 25. We support their emotional and physicol wellbeing and provide access to opportunities that they corry through into odulthood, setting the environment to thrive and to develop pride in themselves ond as port of their community., AftordabFllty and unlversal access for all young people aged 10-25 from the North Pembrokeshire area is extremely important to us. The majority of youn8 people we support are from families who are marginalised due to living in a highly rural location with very limited access to services and good quality public transport. Many also experience economic deprivation. therefore, affordability is essential to ensure that all young people have equal access to services. Engaging young people positively in their local community forms a large part of our work and is reflected in the aims and objertives. FISHGUARD AND GOODWICK YOUNG PERSON'S TRUST LTD @ STRATEGIES TO ACHIEVE OUR GOALS O l. Drop.In Services: A safe, welcoming space for sociallzin& learnin8, and enjoying nutritious meals. 2. Youth Empowerment: Platforms for young people to influence their communities and POINT'S operations. 3. Customized Support: Tailored programs meeting the unique needs of every individual. 4. Trainlng & Edu¢ation: Informal, accredited training for those struggling in conventional settings. 5. Adventure & Inclusion: Activities to build confidence, resilience, and teamwork. 6. Communlty Leadership: Cementing POINfs role as Pembrokeshire's leading youth services provider. KEY PROGRAM HIGHLIGHTS l. Dropln Provision 5-Day Weekly Service: Creative pursuits. physical activities, and community projects. Healthy Meals,, Nutrltious, hot meals at just 25p, ensuring no young person goes hungry. Adventure Artlvltles.. Coasteering, kayakin& and outward-bound challenges to build life skills. 2. Lifelong Learnlng & Communlty Engagement "POINT to a Better Future" Project 83 Community Programs.. Arts, culture. and herita8e events. 14 Volunteer Opportunities: Roles in coaching, gardening, and enterprise. 23 Agored Cymru Accredltations: Skills ranging from cooking to digital literacy. 3. Employability Support (1&25 Years> FISHGUARD AND GOODWICK YOUNG PERSON'S TRUST LTD Personalized Drop-ln Support: CV buildin& skill development, and tailored guidance. Holistic Assistance.. Tenancy advice and homelessness prevention services. Lite Skllls Accreditations. Enhancing employability through practlcal learning, SIGNIFICANT AcfiviTIES AT THE POPWORKS CENTRE Sports & Fitness., Weekly sessions like "Fit Fridays and team challenges. Workshops: Addressing critical topics from mentsl health to substance misuse. Youth Forums: Regular feedback sessions to amplify youth voices. Healthy Livlng: Cooking classes, gardening, and sexual health education. Creative Initiatives: Art, crafts, and entrepreneurial projects. EI ACHIEVEMENTS & PERFORMANCE [] Nurturing the Future Project Isept 2021> August 2023) 132 Young People Counselled: Over 386 sessions. 401 Improved Emotlonal Wellbeing: Significant strides in mental health and resillence. 161 Communlty Members Tralned.. Expanding mental health awareness beyond youth. Tl Children In Need Youth Orop-ln Project 363 Young People Engaged in year three. 81 Increased Pride: Activities fostered self-confldence and Community spirit. Fundlng Renewed: A testament to our impart, ensuring support for years to come. Q Mlnd Matters Project O 67 Students En8a8ed across local schools. 78% Felt Heard: Creating a space where youth voices matter. Resllience & Growth. Enhanced emotional maturity, communication skills, and ¢oplng strategies. FISHGUARD AND GOODWICK YOUNG PERSON'S TRUST LTD <1 YOUTH & COMMUNITY FEEDBACK F) Youth Voices Matter 100% Had Funl 97% Felt Proud: Achievements ranged from completing accreditations to adventure challenges. 95% Improved Coping Skills: Enhanced communication and emotional resillence. Parent Perspertlves 96% Beneffted from Activlties & Meals. 87% Felt Posltlve Famlly Impart: POINfs support extended beyond the young people themselves. Case Studies: Asign tM)Stino POINY worked with a lomity who had ￿ *: clilldfen whJsveFe selt I￿r￿lIng. ThFrJugh Gonvèrsation ondidentifying each,indivirSuaVs ' .need&,POINT V4ePP at)le to signpost.thom to Indlviduolly o&as o lorn¥ '14Th so gm¢ofiJi tthPOfyIW, hop61ullY now 'saQJbctsvety con'bep my klds deal ￿¥th th￿ Ihe skntlon Ivus Justso-gcory to me os o iy)otr*r (Jrnl I ddn7 Ihe knowledge 10.be oble to •dvice. Tlionk FISHGUARD AND GOODWICK YOUNG PERSON'S TRUST LTD Sale &iPaC*S "Having POINT as n)y safe spoce t 90 ￿hert i am ho¥ing o mental heolth episode 1$ .$0 essentioj tor me ond m>" paffrnt POINT hove op•nedi. UP Gommunicorion within my hotJ5ehold -1 om grateful lor oll the support POINT has given my child ancl me t.tyro￿j1? tn6s& a,.IliGuJl times. Knowin9 my c,*ild hus c# sole spacè tts speak 15 impottont to LJS" LOOKING AHEAD ts Our journey continues with unwavering dedlcation. By fostering an inclusive, supportive environment, we empower North Pembrokeshire's youth to build brighter futures and strengthen their communities. Together, we look forward to anothèr year of growth, inspiration, and achieve. Promotion of Services POINT actively promotes its programs and initiatives through various channels to engage and inform the community. Local newspapers frequently feature articles showcasing our impacrful work with young people and intergenerational activities, highlighting the positive contributions FISHGUARD AND GOODWICK YOUNG PERSON'S TRUST LTD we make in North Pembrokeshire. These stories play a crucial role in raising awareness and enhancin8 our reputation within the community. Our robust social media presence including a dedicated Facebook, fik Tok and Instagram page-serves as a dynamic platform for communication. We share upcoming opportunities, events, and success Stories, f05tering direct engagement with young people and community members. Fundraising efforts are a vital part of our outreach. Through our Local GivinE page, we involve the community in various appeals. For example, the recent"Adrian's Channel Crawl" campaign, featuring a local town councillor swimming the English Channel to support POINT, has raised an impressive £1,787 so far. Additionally, our "Meals for Kids" initiative has generated £3,047, ensuring that we continue to provide essential seniices to those in need. PUBLIC BENEFIT STATEMENT POINT Charity is dedicated to fulfilling its commitment to public benefit in alignment with the Charity Commission's guidance. When reviewing our aims, objectives, and planning future initiatives, we ensure that all activities contribute meanin8fully to our core mission: supporting the holistic development of young people aged 10-25 in North Pembrokeshire. Our programs focus on providing accessible, affordable, and tailored services designed to engage and uplift youth, particularly those facing financial hardship, social exclusion, or other disadvantages. 8y fostering emotlonal and physical wellbeing, empowering indlvidual potential, and promotlng community involvement, we create lasting positive impart. Through initiatlves such as subsidized meals. accredited training, personalized support, and adventure programs, POINT ensures that every young person has the opportunity to thrive. overcome challenges, and build a brighter future benefiting both individuals and the wider community. ts FFnan¢lal Review This year marked significant milestones and exciting new opportunities for POINT'S mission to support the young people of North Pembrokeshire. Here's a vibrant snapshot of our financial achievements and future plans: ll Suc¢essful Project Completlons: In August 2023, we concluded two impactful initiatives: FISHGUARD AND GOODWICK YOUNG PERSON'S TRUST LTD Nurturing the Future: An emotional and mental health support projett that made a profound difference in young lives. Q Mlnd Matters: A project focused on buildin8 resilience and emotional wellbeing. Though funding for these specific programs ended, we pivoted quickly, securing new opportunities to continue our vital work. New Fundlng Adventures: In October 2023, we celebrated a big win! fy We secured £82,416 from the Central Government's Shared Prosperity Fund to launch our exciting new project: POINT to a 8etter Future This initiative focuses on boosting life chances and instilling community pride. Additional support came from the Moond3nce Foundation with £20,604 in match funding. Together, these grants cover 100% of project Costs for our 2024 pilot program! Core Fundlng Achievements: We're thrilled to have secured vrtal funding for our core °back office" operations: Children in Need Core Grant: Approx. £28,ooo/year (Sept 2023 - Aug 20261 to strengthen our "back office" operation5, including strategic development, admin, and finance. Trusthouse Charitsble Foundation: Another £29,OOO/year {Sept 2023 - Aug 2026) to support essential resources. Lo¢al Authority Support: Our long-standing partnership with the local authority rematns strong! We receive £31,OOO/year from Children and Famllle5 Fundlng {formerly Families First). This Supports staffing and activitie5 for Our Drop-ln servites, including our popular Saturday evening sessions. This funding, in place Since 2012, continues into 2024 and Is expetted to extend Into 2025. Looking Ahead: The Board of Trustees and our General Manager are laser-focused on sustainabilityl Regular FISHGUARD AND GOODWICK YOUNG PERSON'S TRUST LTD committee meetings ensure we stay ahead of funding needs, submitting applications well in advance to maintain smooth operations. Excltlng News: We've recently secured £77,106 from the Pembrokeshire County Council's Enhanclng Pembrokeshire Fund! Combined with 20% match funding from the Postcode Community Trust, this ensures POINT to a Better Future continues into 2025. RESERVES POLICY AND GOING CONCERN The Trustees regularly review the charity's financial health and contingency plans to ensure that POINT can continue to meet its commitments and support its mission. even in the face of funding fluctuations. This includes assessing potential scenarios where funding may redLJce, or in the worst-case scenario, where some sep4ice5 may need to be scaled back or closed. In such cases, the Trustees have planned for potential redundancy costs to ensure staff are fairly treated. As part of this prudent approach, the Trustees have set aside free reserves amounting to £75,032, which covers approximately 5 months of general running costs. In addition, the charity has earmarked £28,800 to cover redundancy payments should there be significant changes to funding in the future. The Trustees also maintain designated resenies of £30,000, specifically allocated for essential building maintenance and related costs, to ensure the charitys premises remain in good condition and fully operational. These reserves provide a buffer to ensure the charity can continue its work with minimal disruption and fulfil its commitments to the community, even in challenging financial circumstances STRUCTURE GOVERNANACE AND MANAGEMENT Governlng Document FISHGUARD AND GOODWICK YOUNG PERSON'S TRUST LTD The Charity is a charitable company limited by guarantee as defined by the Companies Act 2006, governed by its Memorandum and Articles of Association. It was incorporated on 10 September 21J)l and is governed by its articles as amended by special resolution on 31 May 2010. It is registered as a charity with the Charity Commission. Wsder Network Over the past year, POINT has been dedicated to building stron& lasting relationships within the community to secure the long-term sustainability of our projects. By raising awareness of our work and the impact we have, we aim to foster greater support and engagement from the public. We recognize the importance of maintaining positive, collaborative partnerships with the public sector and continuously seek feedback from the community on our performance and future plans. POINT works closely with a range of like-minded organization5, including the Pembrokeshire Youth Service and other charity youth providers across both North and South Pembrokeshire. We are proud mernbers of the Council for Wales Voluntary Youth Services {CWVYS) and the Pernbrokeshire As50Clation of Voluntary Services (PAVS), which enable5 US to stay connected with the broader youth seniices network. Additionally, we have established strong partnerships with local agencies and community groups, including the Fishguard & Goodwick Town Council, Area 43 Youth Drop-ln, PLANED. Pembrokeshire Coast National Park, Transition Bro Gwaun, the Pembrokeshire County Council Youth Outreach Team, Pembrokeshire Care Society (PATH), Dru8aid (substance misuse services), Workways, Futureworks, and the Ioc31 Community Safety Police. We also collaborate with a variety of local organizations, such as St Mar￿5 Church, The Friendship Circle, The Lions, The Sea Trust, and other community groups, ensuring a united approach to supporting and empowering young people in our area. ointment of Trustees The Trustees, who serve as directors under the Comparties Act 2006 and trustees under the Charities Act 2006, adhere to all relevant regulations and Charity Commission guidance. Thelr appointment and reappointment processes are governed by POINT'S Articles of Association, ensuring transparency and accountability. Key points include: Trustees can be appointed or reappointed at a general meeting if recommended by the board or proposed by members withln the stipulated notice perlod. Only individuals aged 18 or older, meeting all eligibility criterla. can serve as trustees. FISHGUARD AND GOODWICK YOUNG PERSON'S TRUST LTD Vacancies or new appointments must be communicated to members in advance, and trustees appointed mid-term hold office until the next annual general meeting, at which point they may seek reappolntment. This structured approach ensure5 a robust governance framework, maintaining the charity's integrity and operatlonal excellence. Trustee Induction and Tralnlng POINT is commttted to ensuring that the Board of Trustees reflects the diversity and needs of the Fishguard and Goodwick community while maintaining high standards of governance. We prioritize transparency and integrity, ensuring no conflirts of interest among trustees or senior staff, including related party transactions. New trustees are carefully selected through personal contact and formally appointed by the Board. Currently, nine trustees serve on the Board, each contributing their expertise and local insights. Upon appointment, trustees undergo a comprehensive induction program covering: Legal responsibilities under charity and company law POINfs Memorandum and Articles of Association Governance structures, decislon-making proces*s, and strategic plans An overview of the charity's business plan and financial performance Induction sessions also provlde opportunities to meet key staff and fellow trustees, fostering collaboration and shared vision. Trustees are encouraged to participate in external training to enhance their knowledge and effectiveness, ensuring the charity remains well-governed and responsive to community needs. ORGANISATION The Board of Trustees consists of no fewer than three members, with no upper limit unless otherwise determined by an ordinary resolution. The Board convenes every eight weeks, complemented by a dedicated subcommittee focusing on funding and finance, which meets regularly. To ensure eff icient operations, the Trustees appoint a General Manager responsible for overseeing the charlty's day-to-day activities. The General Manager holds delegated authority for operational matters, including flnancial management and the coordination of youth projects and activities. io FISHGUARD AND GOODWICK YOUNG PERSON'S TRUST LTD RELATED PARTIES AND CO-OPERATION WITH OTHER ORGANISATIONS None of the Twstees receive remuneration or other financial benefits for their contributions to the charity. Any potential conflicts of interest or connections between a Trustee or senior manager and a related organisation must be disclosed to the full Board, conslstent with the policy for all contractU31 relationships involving related parties. Over the past year, no such disclosures were reported. PAY POLICY FOR SENIOR STAFF The Board of Trustees, along with the General Manager, constitute the key management personnel responsible for the strategic direction and daily operations of the charity. All Trustees volunteer their time without receiving any remuneration. According to the charity's Articles of Association: he trustees may be reimbursedfor reasonable expenses incurred during their officiol duties, including tmvel and accommodation costs, but no other remunerotion is provided." The General Manager's salary is reviewed annuallyi With adjustments reflecting the prevailing senior management earnings in the region. The Trustees benchmark compensation levels against comparable Pembrokeshire-based charity youth centres to ensure fair and competitive remuneration. RISK MANAGEMENT The Trustees conduct regular assessments to identify and address potential risks to the charlty. In line with best practices, comprehensive systems and procedures are in place to mitigate these risks and safeguard the organisation against fraud and errors. The Trustees are confident that these measures provide reasonable assurance of operational integrity and security. RESPONSIBILITIES OF THE TRUSTEES Under company law, the Tru5tee5 are responsible for preparing financial Statements that provide a true and fair view of the charity's financial position at the end of each fiscal year. This includes detailing the charity's incoming resources and their application. To meet these obligations, the Trustees must: Select and consistently apply suitable accounting policies in accordance with best practlces. li FISHGUARD AND GOODWICK YOUNG PERSON'S TRUST LTD Follow the principles outllned in the Charities Statement of Recommended Practice ISORP). Make well-reèsoned and prudent judgments and estimates. Prepare financial statements on a going concern basis unless it is inappropriate to assume the charity wlll continue operations. Additionally, the Trustees are tasked with maintaining accurate accountin8 records that reflect the charity's financial status. These records must comply with the Companies Act 2006 and facilitate the safeguarding of the charitls assets. Trustees take reasonable steps to prevent and detert fraud or other irregularities. This report is prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by the Executlve Commlttee on .... Signed on Its behalf by: ......,... . Chairperson/Director/Trustee Ms. Perys Worth. Chairperson of the 8oard of Trustees ON BEHALF OF THE BOARD 12