**Registered number: 04157991 Charity number: 1092336**
## **CANOLFAN Y MYNYDD DU THE BLACK MOUNTAIN CENTRE**
# **(A Company Limited by Guarantee)**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2023**
## **CANOLFAN Y MYNYDD DU THE BLACK MOUNTAIN CENTRE**
## **(A Company Limited by Guarantee)**
## **CONTENTS**
||Page|
|---|---|
|**Reference and Administrative Details of the Charity, its Trustees and Advisers**|1|
|**Trustees' Report**|2 - 4|
|**Trustees' Responsibilities Statement**|5|
|**Independent Examiner's Report**|6|
|**Statement of Financial Activities**|7|
|**Balance Sheet**|8 - 9|
|**Notes to the Financial Statements**|10 - 24|
## **CANOLFAN Y MYNYDD DU THE BLACK MOUNTAIN CENTRE**
## **(A Company Limited by Guarantee)**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023**
|**Trustees**|C Evans|
|---|---|
||M Thomas|
||G A Davies|
||M Morgans|
||J Rees|
||J G Davies|
||A Friar|
||B Griffiths|
||A Bryce|
||R Moses|
||N Rees-Swain (appointed 8 January 2023)|
||D Saunders (appointed 8 January 2023)|
||J Stonehouse (appointed 8 January 2023)|
||H Taylor (appointed 8 January 2023)|
|**Company registered**
**number**
04157991
**Charity registered**
**number**
1092336
**Registered office**
Cwmgarw Road
Brynamman
Ammanford
Carmarthenshire
SA18 1BU
**Company secretary**
Bethan Elin Griffiths
**Independent examiner**
MHA
Chartered Accountants
3 New Mill Court
Swansea Enterprise Park
Swansea
SA7 9FG||
Page 1
## **CANOLFAN Y MYNYDD DU THE BLACK MOUNTAIN CENTRE**
## **(A Company Limited by Guarantee)**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023**
The trustees present their annual report and financial statements for the year ended 31 March 2023.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".
## **Objectives and activities**
(a) to develop establish or secure in suitably equipped accommodation and establishment of a multifunctional community centre and to maintain and manage the same (whether alone or in cooperation with any local authority or other person or body) in furtherance of these objects.
(b) to promote the benefit of health, education and recreation of the inhabitants of Brynamman without distinction of age, sex, sexual orientation, race or of political religious or other opinions by associating together the said inhabitants and the local authorities voluntary and other organisations in a common effort to advance education and to provide facilities in the interest of health and social welfare for recreation and leisure time occupation with the object of improving the conditions of life for the said inhabitants.
(c) to promote such other charitable purposes as may from time to time be determined.
The main activities undertaken in relation to the above purposes are noted throughout the report.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
The main activities undertaken to further the charity’s purposes for the public benefit are noted throughout the report.
## **Achievements and performance.**
During the year the charity benefited from an influx of new trustees who collectively gave a fresh impetus to what we were doing and perhaps more importantly, how and why.
Several services particularly educational, ‘post-pandemic’ provided at the centre were found to be no longer in demand as service providers had established other more cost-effective ways of engaging with their students.
Remote learning is very cost-effective and is here to stay.
This in turn removed a very significant revenue stream for the centre which is reflected in the 22/23 financial figures. As a consequence in the future, the charity will have to rethink how it uses the space it has for facilitating on-site learning.
Costs, particularly energy and labour continue to outstrip the centre’s ability to fully recover through charging. It is particularly easy for our national politicians to raise the living wage and to take credit for the uplift but it is charites like the centre that have to generate the additional income to cover these costs.
In time, however, these shocks to the economy will, hopefully, pass through and running the centre will return to a more predictable course. During this reporting period it was becoming evident that costs were outstripping our ability to raise funds to support the services and facilities, our financial monitoring was showing we were heading towards a significant deficit for the year. These accounts now confirm the position with the deficit having to be funded from the centre’s reserves.
Page 2
## **CANOLFAN Y MYNYDD DU THE BLACK MOUNTAIN CENTRE**
## **(A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023**
With the evidence to hand regarding a deficit for the year, the board approved an approach to Cwarter Bach Community Council for further financial support. This was eventually refused after months of providing additional information at the Council’s request. As a consequence, we are already in a weaker financial position going into the 23/24 period.
The centre relies on a loyal group of volunteers who freely give their time and commitment by using their knowledge and experience to help the wider community. The Council’s refusal of further support had a significant demoralising impact on everyone associated with the centre.
Our thanks as usual go to the very many users of the centre, its staff, volunteers and fellow trustees who all play their part in making the centre such a key hub and service facilitator in the community.
## **Financial review**
The charity made an overall deficit of £56,827 for the year ended 31st March 2023 (2022: £30,812). This can be seen to be split between an unrestricted deficit of £22,640 (2022: surplus £2,134) and a restricted deficit of £34,187 (2022: deficit of £28,678). The restricted deficit relates to the depreciation charge released against the fund each year and grant funding received but not yet spent.
Total reserves at the year end were £985,640 (2022: £1,042,467), split between unrestricted general reserves of £75,314 (2022: £97,954), designated funds of £43,151 (2022: £43,151) and restricted funds of £867,175 (2022: £901,362).
## **Reserves policy**
The trustees have adopted a policy in order to provide for the following designated reserves in addition to the general fund reserves:
1. The centre aims to build up a reserve to enable it to continue and expand the service that the organisation currently provides and to allow the development of new projects.
2. Unrestricted funds not committed to or invested in tangible fixed assets i.e. the free reserves held by the charity, are held in a general fund and a designated fund referred to as the future commitment reserve.
At this level the trustees would aim to continue the charity's current activities for several months in the event of a significant drop in income.
As at 31st March 2023 the free reserves of the charity totalled £75,314 (2022: £97,954).
Page 3
## **CANOLFAN Y MYNYDD DU THE BLACK MOUNTAIN CENTRE**
## **(A Company Limited by Guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023**
## **Structure, governance and management**
## **Governing document and structure**
The charity is a company limited by guarantee and is governed by its Memorandum and Articles of Association dated 15th December 2000.
It was registered as a charity with the Charity Commission on 6th June 2002.
## **Recruitment and appointment of trustees**
Membership of the company is open to residents of Brynamman and the locality on payment of an admission fee of £3. Each member is committed to contribute £1 in the event of the charity winding up.
## **Organisational structure**
The business of the charity is overseen by the board of trustees who may exercise all powers of the charity and by the Executive Committee which has delegated authority for operational matters.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................
## **J Rees**
Date:
Page 4
## **CANOLFAN Y MYNYDD DU THE BLACK MOUNTAIN CENTRE**
## **(A Company Limited by Guarantee)**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2023**
The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on its behalf by:
................................................
## **J Rees**
Date:
Page 5
## **CANOLFAN Y MYNYDD DU THE BLACK MOUNTAIN CENTRE**
## **(A Company Limited by Guarantee)**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2023**
## **Independent Examiner's Report to the Trustees of Canolfan Y Mynydd Du The Black Mountain Centre ('the Charity')**
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2023.
## **Responsibilities and Basis of Report**
As the Trustees of the Charity (and 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 Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity's accounts 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:
1. accounting records were not kept in respect of the Charity 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 accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
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.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Dated:
Rachel Doyle ACA FCCA
MHA Chartered Accountants 3 New Mill Court Swansea Enterprise Park Swansea SA7 9FG
Page 6
## **CANOLFAN Y MYNYDD DU THE BLACK MOUNTAIN CENTRE**
## **(A Company Limited by Guarantee)**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023**
|**Note**
**Income from:**
Donations and legacies
4
Charitable activities
5
Other income
6
**Total income**
**Expenditure on:**
Raising funds
7
Charitable activities
8
**Total expenditure**
**Net expenditure**
Transfers between funds
18
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Restricted**
**funds**
**2023**
**£**
**-**
**-**
**-**
**-**
**-**
**28,187**
**28,187**
**(28,187)**
**(6,000)**
**(34,187)**
**901,362**
**(34,187)**
**867,175**|**Unrestricted**
**funds**
**2023**
**£**
**3,111**
**75,732**
**250**
**79,093**
**780**
**106,953**
**107,733**
**(28,640)**
**6,000**
**(22,640)**
**141,105**
**(22,640)**
**118,465**|**Total**
**funds**
**2023**
**£**
**3,111**
**75,732**
**250**
**79,093**
**780**
**135,140**
**135,920**
**(56,827)**
**-**
**(56,827)**
**1,042,467**
**(56,827)**
**985,640**|_Total_
_funds_
_2022_
_£_
_341_
_90,193_
_42_
_90,576_
_299_
_121,089_
_121,388_
_(30,812)_
_-_
_(30,812)_
_1,073,279_
_(30,812)_
_1,042,467_|
|---|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 10 to 24 form part of these financial statements.
Page 7
## **CANOLFAN Y MYNYDD DU THE BLACK MOUNTAIN CENTRE**
## **(A Company Limited by Guarantee) REGISTERED NUMBER: 04157991**
## **BALANCE SHEET AS AT 31 MARCH 2023**
|**Note**
**Fixed assets**
Tangible assets
13
Investments
14
**Current assets**
Debtors
15
Cash at bank and in hand
Creditors: amounts falling due within one
year
16
**Net current assets**
**Total assets less current liabilities**
**Total net assets**
**Charity funds**
Restricted funds
18
Unrestricted funds
Designated funds
18
General funds
18
Total unrestricted funds
18
**Total funds**|**7,975**
**96,594**
**104,569**
**(21,755)**
**43,151**
**75,314**|**2023**
**£**
**897,826**
**5,000**
**902,826**
**82,814**
**985,640**
**985,640**
**867,175**
**118,465**
**985,640**|_8,843_
_111,355_
_120,198_
_(8,744)_
_43,151_
_97,954_|_2022_
_£_
_926,013_
_5,000_|
|---|---|---|---|---|
|||||_931,013_
_111,454_|
|||||_1,042,467_|
|||||_1,042,467_|
|||||_901,362_
_141,105_|
|||||_1,042,467_|
Page 8
## **CANOLFAN Y MYNYDD DU THE BLACK MOUNTAIN CENTRE**
## **(A Company Limited by Guarantee) REGISTERED NUMBER: 04157991**
**BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2023**
The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
## **J Rees**
Date:
The notes on pages 10 to 24 form part of these financial statements.
Page 9
## **CANOLFAN Y MYNYDD DU THE BLACK MOUNTAIN CENTRE**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **1. General information**
Canolfan Y Myndydd Du The Black Mountain Centre is a private company limited by guarantee incorporated in England and Wales. The registered office is:
Cwmgarw Road Brynamman Ammanford Carmarthenshire SA18 1BU
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statement**
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Canolfan Y Mynydd Du The Black Mountain Centre 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.
The charity has taken advantage of the provisions in the SORP for charites applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetarey amounts in these financial statements are rounded to the nearest £.
## **2.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Page 10
## **CANOLFAN Y MYNYDD DU THE BLACK MOUNTAIN CENTRE**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **2. Accounting policies (continued)**
## **2.3 Income**
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Centre and post office income is accounted for when the service is provided.
Grants receivable are treated in different ways dependent upon their purposes and the terms of the grant.
Grants receivable for the specific purpose of purchasing fixed assets for the continued use of the charity are treated as restricted funds. The restricted fund is then reduced by amounts equivalent to the depreciation charges on the assets concerned and will continue to do so over the expected useful lives of the assets concerned.
Grants receivable for specific purposes are also treated as restricted funds so that any unused funds can be separately identified.
Grants receivable to facilitate the general running of the charity for example where the trustees can choose how the funds are expended, are treated as unrestricted funds.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
## **2.4 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
Page 11
## **CANOLFAN Y MYNYDD DU THE BLACK MOUNTAIN CENTRE**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **2. Accounting policies (continued)**
## **2.5 Tangible fixed assets and depreciation**
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
At each reporting date the Charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .
Depreciation is provided on the following basis:
|Freehold land and buildings|-|2% Straight line|
|---|---|---|
|Equipment|-|25% Reducing balance|
|Fixtures and fittings|-|25% Reducing balance|
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Financial Activities.
## **2.6 Investments**
Unlisted investments relate to 5,000 shares in Awel Coop gifted to the charity. These have been valued at £1 each. The value will be reviewed at each reporting date and adjusted where necessary.
## **2.7 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.
## **2.8 Cash at bank and in hand**
Cash at bank and 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.
Page 12
## **CANOLFAN Y MYNYDD DU THE BLACK MOUNTAIN CENTRE**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **2. Accounting policies (continued)**
## **2.9 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
## **2.10 Financial instruments**
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **2.11 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
## **2.12 Employee benefits**
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 charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **2.13 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Page 13
## **CANOLFAN Y MYNYDD DU THE BLACK MOUNTAIN CENTRE**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **3. Critical accounting estimates and areas of judgment**
Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The trustees makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.
## **4. Income from donations and legacies**
|**Unrestricted**
**funds**
**2023**
**£**
Donations
3,111
_Unrestricted_
_funds_
_2022_
_£_
Donations
_341_
**5.**
**Income from charitable activities**
**Unrestricted**
**funds**
**2023**
**£**
Centre Income
44,443
Grants
31,289
75,732|**Total**
**funds**
**2023**
**£**
**3,111**|
|---|---|
||_Total_
_funds_
_2022_
_£_
_341_|
||**Total**
**funds**
**2023**
**£**
**44,443**
**31,289**
**75,732**|
Page 14
## **CANOLFAN Y MYNYDD DU THE BLACK MOUNTAIN CENTRE**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **5. Income from charitable activities (continued)**
|Centre Income
Grants
**Grants**
Main Grants
Crowdfunder
Cwarter Bach Community Council
Moondance Foundation
Carmarthen County Council
Coronavirus Job Retention Scheme
Welsh Government|_Restricted_
_funds_
_2022_
_£_
_-_
_9,561_
_9,561_|_Unrestricted_
_funds_
_2022_
_£_
_31,753_
_48,879_
_80,632_
**2023**
**£**
**10,000**
**2,739**
**17,300**
**-**
**1,250**
**-**
**-**
**31,289**|_Total_
_funds_
_2022_
_£_
_31,753_
_58,440_
_90,193_|
|---|---|---|---|
||||_2022_
_£_
_-_
_-_
_-_
_10,000_
_21,879_
_9,561_
_17,000_
_58,440_|
## **6. Other incoming resources**
||**Unrestricted**|**Total**|
|---|---|---|
||**funds**|**funds**|
||**2023**|**2023**|
||**£**|**£**|
|Interest recieveable|250|**250**|
Page 15
## **CANOLFAN Y MYNYDD DU THE BLACK MOUNTAIN CENTRE**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **6. Other incoming resources (continued)**
||_Unrestricted_|_Total_|
|---|---|---|
||_funds_|_funds_|
||_2022_|_2022_|
||_£_|_£_|
|Interest recieveable|_42_|_42_|
**7. Expenditure on raising funds**
## **Fundraising trading expenses**
|**Unrestricted**
**funds**
**2023**
**£**
Fundraising and sundry
780
_Unrestricted_
_funds_
_2022_
_£_
Fundraising and sundry
_299_|**Total**
**funds**
**2023**
**£**
**780**|
|---|---|
||_Total_
_funds_
_2022_
_£_
_299_|
Page 16
## **CANOLFAN Y MYNYDD DU THE BLACK MOUNTAIN CENTRE**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **8. Analysis of expenditure on charitable activities**
## **Summary by fund type**
|Centre Income
Support costs
Centre Income
Support costs|**Restricted**
**funds**
**2023**
**Unrestricted**
**funds**
**2023**
**£**
**£**
28,187
104,453
-
2,500
28,187
106,953
_Restricted_
_funds_
_2022_
_Unrestricted_
_funds_
_2022_
_£_
_£_
_38,239_
_80,595_
_-_
_2,255_
_38,239_
_82,850_|**Total**
**2023**
**£**
**132,640**
**2,500**
**135,140**|
|---|---|---|
|||_Total_
_2022_
_£_
_118,834_
_2,255_
_121,089_|
## **9. Analysis of expenditure by activities**
|Centre Income
Support costs|**Activities**
**undertaken**
**directly**
**2023**
**£**
132,640
-
132,640|**Support**
**costs**
**2023**
**£**
-
2,500
2,500|**Total**
**funds**
**2023**
**£**
**132,640**
**2,500**
**135,140**|
|---|---|---|---|
Page 17
## **CANOLFAN Y MYNYDD DU THE BLACK MOUNTAIN CENTRE**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **9. Analysis of expenditure by activities (continued)**
|Centre Income
Support costs|_Activities_
_undertaken_
_directly_
_2022_
_£_
_118,834_
_-_
_118,834_|_Support_
_costs_
_2022_
_£_
_-_
_2,255_
_2,255_|_Total_
_funds_
_2022_
_£_
_118,834_
_2,255_
_121,089_|
|---|---|---|---|
## **Analysis of direct costs**
|Staff costs
Depreciation
Repairs and renewals
Light and heat
Telecoms and computer costs
Insurances and licences
Rates and water
Stationery and other office costs
Printing and advertising
Cleaning
Crafts
Sundry expenses
Legal and professional|**Total**
**funds**
**2023**
**£**
**52,861**
**28,187**
**8,501**
**22,461**
**1,935**
**3,847**
**1,290**
**1,386**
**1,562**
**2,836**
**900**
**3,482**
**3,392**
**132,640**|_Total_
_funds_
_2022_
_£_
_48,073_
_28,678_
_11,061_
_19,087_
_2,383_
_4,163_
_198_
_770_
_536_
_1,890_
_883_
_1,112_
_-_
_118,834_|
|---|---|---|
Page 18
## **CANOLFAN Y MYNYDD DU THE BLACK MOUNTAIN CENTRE**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **9. Analysis of expenditure by activities (continued)**
## **Analysis of support costs**
||**Total**|_Total_|
|---|---|---|
||**funds**|_funds_|
||**2023**|_2022_|
||**£**|_£_|
|Accountancy|**2,500**|_2,255_|
## **10. Independent examiner's remuneration**
The independent examiner's remuneration amounts to £2,500. (2022 - £1,650)
## **11. Staff costs**
|Wages and salaries|**2023**
**£**
**52,861**
**52,861**|_2022_
_£_
_48,073_|
|---|---|---|
|||_48,073_|
The average number of persons employed by the Charity during the year was as follows:
||**2023**|_2022_|
|---|---|---|
||**No.**|_No._|
|Employees|**9**|_9_|
No employee received remuneration amounting to more than £60,000 in either year.
## **Key management personnel**
The key management personnel of the charity received benefits including gross salary, employers national insurance contributions and pension contributions totalling £51,710 (2022: £36,175).
## **12. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2022 - £NIL)_ .
During the year ended 31 March 2023, no Trustee expenses have been incurred _(2022 - £NIL)_ .
Page 19
## **CANOLFAN Y MYNYDD DU THE BLACK MOUNTAIN CENTRE**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **13. Tangible fixed assets**
|**Cost or valuation**
At 1 April 2022
At 31 March 2023
**Depreciation**
At 1 April 2022
Charge for the year
At 31 March 2023
**Net book value**
At 31 March 2023
_At 31 March 2022_
**14.**
**Fixed asset investments**
**Cost or valuation**
At 1 April 2022
At 31 March 2023
**Net book value**
At 31 March 2023
_At 31 March 2022_|**Freehold**
**property**
**£**
**1,335,707**
**1,335,707**
**415,586**
**26,714**
**442,300**
**893,407**
_920,121_|**Equipment**
**£**
**135,754**
**135,754**
**131,972**
**946**
**132,918**
**2,836**
_3,782_|**Fixtures and**
**fittings**
**£**
**80,641**
**80,641**
**78,531**
**528**
**79,059**
**1,582**
_2,110_|**Total**
**£**
**1,552,102**
**1,552,102**|
|---|---|---|---|---|
|||||**626,089**
**28,188**
**654,277**|
|||||**897,825**|
|||||_926,013_|
|||||**Unlisted**
**investments**
**£**
**5,000**|
|||||**5,000**|
|||||**5,000**|
|||||_5,000_|
Page 20
## **CANOLFAN Y MYNYDD DU THE BLACK MOUNTAIN CENTRE**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **15. Debtors**
|**Due within one year**
Trade debtors
Amounts owed by group undertakings
Other debtors|**2023**
**£**
**7,950**
**-**
**25**
**7,975**|_2022_
_£_
_2,717_
_4,628_
_1,498_|
|---|---|---|
|||_8,843_|
## **16. Creditors: Amounts falling due within one year**
|Trade creditors
Amounts owed to group undertakings
Other taxation and social security
Other creditors
Accruals and deferred income|**2023**
**£**
**1,359**
**8,610**
**2,656**
**1,789**
**7,341**
**21,755**|_2022_
_£_
_204_
_-_
_1,669_
_1,722_
_5,149_|
|---|---|---|
|||_8,744_|
## **17. Retirement benefit schemes**
## **Defined contribution schemes**
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. The amount paid in relation to pension costs in the year totalled £1,759 (2022: £1,487), at the year end there was £1,190 outstanding. (2022: £1,361).
Page 21
## **CANOLFAN Y MYNYDD DU THE BLACK MOUNTAIN CENTRE**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **18. Statement of funds**
|**Balance at 1**
**April 2022**
**£**
**Income**
**£**
**Unrestricted funds**
Fixed Asset Fund
**43,151**
**-**
**Fixed asset fund**
Represents funds for the replacement costs of fixed assets.
**Balance at 1**
**April 2022**
**£**
**Income**
**£**
**Restricted funds**
Capital Fund
**882,862**
**-**
Millennium Stadium Charitable
Trust
**2,500**
**-**
Awards for All
**10,000**
**-**
Community Foundation Wales
**6,000**
**-**
**901,362**
**-**
**Balance at 1**
**April 2022**
**£**
**Income**
**£**
**Total of funds**
**1,042,467**
**79,093**|**Expenditure**
**£**
**-**
**Expenditure**
**£**
**(28,187)**
**-**
**-**
**-**
**(28,187)**
**Expenditure**
**£**
**(135,920)**|**Transfers**
**in/out**
**£**
**-**
**Transfers**
**in/out**
**£**
**-**
**-**
**-**
**(6,000)**
**(6,000)**
**Transfers**
**in/out**
**£**
**-**|**Balance at**
**31 March**
**2023**
**£**
**43,151**|
|---|---|---|---|
||||**Balance at**
**31 March**
**2023**
**£**
**854,675**
**2,500**
**10,000**
**-**
**867,175**|
||||**Balance at**
**31 March**
**2023**
**£**
**985,640**|
## **Capital fund**
Capital fund relates to capital income received in prior years in relation to the centre. Depreciation is being released against this fund on an annual basis.
## **Millennium Stadium Charitable Trust**
Funding received towards the installation of a disabled lift.
## **Awards for All**
Funding received towards the installation of a disabled lift.
## **Community Foundation Wales**
Funding received towards cleaning, food preparation and home delivery costs.
Page 22
## **CANOLFAN Y MYNYDD DU THE BLACK MOUNTAIN CENTRE**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **19. Summary of funds**
||||||||||**Balance at**|
|---|---|---|---|---|---|---|---|---|---|
||**Balance at 1**||||||**Transfers**||**31 March**|
||**April 2022**||**Income**||**Expenditure**||**in/out**||**2023**|
||**£**||**£**||**£**||**£**||**£**|
|Designated funds|**43,151**||**-**||**-**||**-**||**43,151**|
|General funds|**97,954**||**79,093**||**(107,733)**||**6,000**||**75,314**|
|Restricted funds|**901,362**||**-**||**(28,187)**||**(6,000)**||**867,175**|
||**1,042,467**||**79,093**||**(135,920)**||**-**||**985,640**|
|||||||||||
|**Analysis of net assets between funds**||||||||||
|**Analysis of net assets between funds - current year**||||||||||
||||||**Restricted**||**Unrestricted**||**Total**|
||||||**funds**||**funds**||**funds**|
||||||**2023**||**2023**||**2023**|
||||||**£**||**£**||**£**|
|Tangible fixed assets|||||854,675||43,151||**897,826**|
|Fixed asset investments|||||-||5,000||**5,000**|
|Current assets|||||12,500||92,069||**104,569**|
|Creditors due within one year|||||-||(21,755)||**(21,755)**|
|**Total**|||||867,175||118,465||**985,640**|
|||||||||||
|**Analysis of net assets between funds - prior year**||||||||||
||||||_Restricted_||_Unrestricted_||_Total_|
||||||_funds_||_funds_||_funds_|
||||||_2022_||_2022_||_2022_|
||||||_£_||_£_||_£_|
|Tangible fixed assets|||||_882,862_||_43,151_||_926,013_|
|Fixed asset investments|||||_-_||_5,000_||_5,000_|
|Current assets|||||_18,500_||_101,698_||_120,198_|
|Creditors due within one year|||||_-_||_(8,744)_||_(8,744)_|
|**Total**|||||_901,362_||_141,105_||_1,042,467_|
|||||||||||
## **20. Analysis of net assets between funds Analysis of net assets between funds - current year**
Page 23
## **CANOLFAN Y MYNYDD DU THE BLACK MOUNTAIN CENTRE**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **21. Related party transactions**
The aggregate capital and reserves and the result for the year of subsidiaries excluded from consolidation was as follows:
Name of undertaking - Siop Y Myndydd Du
Profit/(Loss) - £8,408
Capital and Reserves - £8,134
The company is a Private Limited Company by guarantee without share capital, company number 11436421. The company was incorporated on 27th June 2018.
## **Transactions with trading company**
During the year the charity purchased goods on behalf of the trading company totalling £131,244 (2022: £126,517).
During the year the charity collected income on behalf of the trading company totalling £218,371 (2022: £197,488).
During the year the charity recharged staff and rent costs totalling £75,674 (2022: £65,785).
At the year the trading company was owed by the charity £8,610 (2022 due to parent: £4,628).
Page 24