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 2024 .n. A PIQLFAN! Y ?jYklYDD T4f BithPV kqnuryT.41D! fFty.ITPF (A Company Limited by Guarantee) CONTENTS Page Reference and Administrative Detalls of the Charlty, its Trustees and Advisers Trustees, Report Trustees. Responsibillties Statement Independent Examiner's Report Statement of Flnanclal Activities Balance Sheet Notes to the Financlal Statements 9-24 CAWOLFAII V P., TAE IviOb'i4 KtEi4 i R (A Company Limited by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustees C Evans M Thomas G A Davies M Morgans J Rees J G Davies A Friar (Resigned) B Griffilhs A Bryce R Moses N Rees-swain D Saunders J Stonehouse H Taylor (Resigned) A Rees-swain (appointed 12 December 2023) C Richards (appointed 12 December 2023) Company reglstered number 04157991 CharSty registered number 1092336 Registered offlce Cwmgarw Road Brynamman Ammanford Carmarthenshire SA18 1BU Company secretary Bethan Elin Griffiths Independent examlner MHA Chartered Accountants MHA House Charter Court Swansea Enterprise Park Swansea SA7 9FS Page 1 . CJ4llQl Y P.IV6IYDD Tuf Tr.4ni ITrlTA!F! ￿￿TrITP IA Company Limited by Guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annual report and financial statements for the year ended 31 March 2024. The financial statemenls have been prepared in accordance with the accounting policies set out in note 110 the financial statements and comply wth the charitrfs 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 R@public of Ireland (FRS 102) (effective 1 January 2019)" Objectlves 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) lo promote the benefit ol health, education and recrealion of the inhabitants of Brynamman without distinction of age, sex, sexual orientation, race or of polilical religious or other opinions by associating together the said inhabitants and the local authorities voluntary and other organisations in a ￿MmOn 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 ts'me be determined, The main activities undertaken in relation to the above purposes are noted Ihroughout the report, The trustees have paid due regard to guidance issued by the Ch8rity Commission in deciding what activities the charily should undertake. The main activities undertaken to further the charity's purposes for the public benefit are noted Ihroughout the report. Achlevements and performance. The expertise brought by new trustees enabled the Charily to develop its iwo 'core' income generating activities of the café and shop. The shop in particular ha5 been the key driver with local products being sold which provided local producers with an outbt. This in turn has brought a significanl increase in footfall lo the centre. The same increase in footfall has benefited the café with a demand for more freshly baked products. An inter8Ction between the two businesses enabling 'end of shelf life products. being used and prepared as specials on the menu has been a great success.11 is after all suslainability working at the local level with less food waste and less food miles. Special events were also initiated during the year wilh bingo. qutz evenings and special themed events proving to be very popular. These in turn also contributed to the turnaround in Ihe financial performance of the Charity. All of this SUG¢ess requires the hard work of fellow truslees, the many volunteers we have and of course our staff. As your chairman for the year, a very sin￿re and big thank you for the effo The turnaround in our financial performance is to be celebrated but financial challenges remain. Energy costs are still high, nationally imposed wage settlements are outstripping what we can charge and our rental income has moved to more piecemeal and less predictable. Even with an increase in our income generating aGtivtiies, we slill require successful grant bids and financial support from the public purse. Pre pandemic, exlernal financial support was in the order of £20k per annum. During this reporting period our business plan was showing this gap had grown to £50k. This proved to be accurate and without the legaGy left to the Charity during the period our surplus would have been a lot less. Page 2 CANVLFAY Y ?¥7'1 1g'
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2024. Responstbilities and Basis of Report As the Trustees of the Charity (and ils directors for the purposes of company law) you are responsible for the preparalion of the accounts in accordance with the requirements of Ihe Companies Act 2006 {'the 2006 Act,). Having satisfied myself th8t 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 Charitls accounts C8rried out under section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my ex8mination I have followed the Directions given by the Charily Commission under section 145(5)(b) of the 2011 Act. Independent Examlner's Statement I have completed my examination. I C¢Jnfimi that no matters have come to my 8ltenlion in connection with the examination giving me cause to believ8: accounting records were not kept in respect of the Charity as required by section 386 of Ihe 2006 Act,. or the accounts do not accord with those records: or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounls give a 'true and fairf view which is not a matter considered as part of an independent examination., or 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 lapplicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ of I reland {FRS 102)]. I have no concerns and have come across no other matters in connection with the examlnation 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 Charitls Trustees. as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regutations 2008. My work has been undertaken so that I might state to the Charitls Trustees those mallers l am required to stale 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 responsibilily to anyone other than the Charity and the Charitls Trustees as a body. for my work or for this report. Signed.. Dated: Rachel Doyle ACA FCCA DChA MHA Chartered Accountants MHA House Charter Court Swansea Enterprise Parf( Swansea SA7 9FS Page 5 CA>!QLttAV Y MVIIV￿￿ DU TUE nLAf.W D.•nLINTAIV. CEFITP. ITP.E (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles {contlnued) 2.3 Income All income is recognised once the Charity has enlillement to the income, it is probable that the income will be received and Ihe amount of income receivable can be measured reliably. Cash donations are recognised on receipt. Other donations are recognised On￿ the charity has been notified of the donation, unless performance conditions require deferral of Ihe amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at Ihe time of the donation. Centre and post office income is a￿OUnted for when the Servi￿ is provided. Grants receivable are treated in differenl 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 lo 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 8s restricted funds so that any unused funds can be separately identified. Grants receivable lo facilitate th8 general running of the charity for example where the trustees can choose how the funds are expended, are Ireated as unrestricted funds. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by Ihe charily; this is normally upon notifution 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 lo 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 GOSts involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that aclivily. Shared costs which contribute to more than one activity and support costs which are not atlribulable lo a single activily are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are aSlocated 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 ass(Kiated support costs. All expenditure is inclusive of irrecoverable VAT. Page 10 CAI¥OLFAPy Y I￿1,$1,1.￿D i HE BLAK•K i¥ivUl* i AIA K•ttiYTRE IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng policles (continued) 2.5 Taxation The Charity is considered to pass the tests set oul in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore il meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the co￿oration Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. to the extent thal such in¢ome or gains are applied exclusively to charitable purposes. 2.6 Tangible fixed assets and depreclatlon 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 arxumulated impairment losses. All costs incurred lo bring a tangible fixed asset into ils inlended 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, Ihe recoverable amount of the asset is determined lo be the higher of ils fair value less costs to sell and its value in use. An impairmenl 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 lollowing basis: Freehold land and buildings Equipment Fixtures and fittings 2% Straight line 250A Reducing balance 250A Reducing balance Gains and losses on disposals are detemiined by comparing the proceeds with the carrying amount and are recognised in the Statement of Financial Activities. 2.7 Investments Unlistad 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. 2.8 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at Ihe amount prepaid net of any trade discounts due. 2.9 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 11 ..nAblOI FN.N Y iIYNvf)D niJ TUF BLACK MOI JWTAIN fFh!T!a (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting poll¢ies (contlnued} 2.10 Liabilltles and provlslons Liabilities are recognised when there is an obligation al the Balance Sheet date as a resull of a past event, it is probable that a transfer of economic benefit will be required in seltlement, 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 seNices it musl provide. Provisions are measured at Ihe best estimate of the amounts required to settle the obligation. Whera 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 rale 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. 2.11 Flnancial instruments The Charity only has financial assets and financial liabilitie5 of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their seltlemenl value with the exception of b8nk loans which are subsequently measured at amortised cost using the effective interest method. 2.12 Fund accounting General funds are unrestricled funds which are available for use at the discretion of Ihe Trustees in furtherance of the general objectives of the Charily and which have not been designated for other purposes. Designaled 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. Restricled funds are funds which are to be used in accordance with sp8crfic restrictions imposed by donors or which have been raised by the Charily 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. 2.13 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employe8'S services are received. Termination benefits are recognised immediately as an expense when the charily is demonstrably committed to terminate the employment of an employee or to provide temiination benefits. 2.14 Retirement benefits Paymenls to defined contribLrtion retirement benefit schemes are charged as an expense as they fall due. Page 12 CAi*OLFAN '1 fvi'fN"IBD Lld B￿A￿K i¥lOUN ¥ Ail* ￿ET￿TRE (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Critical accountlng 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 reasonabla under the circumstances. The trustees makes estimates and assumptions conceming the future. The resulting accounting estimates and assumptions will, by definition. seldom equal the related actual results. Incorne from donatlons and legacies Unrestrlcted funds 2024 Total funds 2024 Donations 86,947 86,947 Unrestncled funds 2023 Total funds 2023 Donations 3,Iti 3,111 Income from charltable actlvltles Unrestricted funds 2024 Total funds 2024 Centre Income Grants 57,135 27,737 57,135 27,737 84,872 84,872 Page 13 f.ANni FAN Y MVNynD DLI THF BL4C.K MOIJNTA.Ih! eFN!TP.F (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Income from charitable activities (continued) Unrestrict8d funds 2023 Total funds 2023 Centre Income Grants 44, 443 31,289 44,443 31,289 75, 732 75, 732 Grants 2024 2023 M8in Grants Crowdfunder Cwarter Bach Community Council Carmarthen County Council 10,000 2, 739 17,300 1, 250 4,832 17,000 5,905 27.737 31,289 Other incoming resources Unrestricted funds 2024 Total funds 2024 Interest recieveable 948 948 Unrestncted funds 2023 Tot81 funds 2023 Interest recieveable 250 250 Page 14 ANOLPAN 'f hlYNYDD UU i He BLACrf knQLii4 1 Alr4 CEplTRE (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Exponditure on raising funds Fundraising trading expenses Unrestrlcted funds 2024 Total funds 2024 Fundraising and sundry 4,277 4,277 Unrestricled funds 2023 Total funds 2023 Fundraising and sundry 780 780 Analysis of expenditur8 on charitable aclivities Summary by fund type Restrlcted Unrestricted funds funds 2024 2024 Total 2024 Centre Income Support costs 29.790 120,811 2,650 150,601 2,650 29.790 123,461 153,251 Page 15 - cA￿ThI FAII V V.VlalVllD E)Jl y.yf B￿1 IjJOI AIIY AI&2 CENTPE (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysis of expenditure on charitable activities (continued) Summary by fund type (continued) Rest17cled Unreslricted lunds funds 2023 2023 Tolal 2023 Centre Income Support costs 28, 187 104,453 2, 500 132,640 2, 500 28, 187 106, 953 135, 140 Analysis of expendlture by activitles Activlties undertaken directly 2024 Support costs 2024 Total funds 2024 Centre Income Support costs 150,601 150,601 2,650 2,650 150,601 2,650 153,251 Activities und8rtakon direclly 2023 Support cosls 2023 Tolgl funds 2023 Centre Income Support COSts 132, 640 132,640 2,500 2,500 132. 640 2.500 135. 140 P8gè 16 CANOLFAN Y MYNYDO DU THÈ BLACK MOUN I AIN CkN I R& (A Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analysis of expenditure by activitles {continued) Analysls of direct costs Total funds 2024 Tolal funds 2023 staff cosls Depreciation Repairs and renewals Light and heat Telecoms and computer costs Insurances and licences Rates and water stationery and other offica costs Printing and advertising Cleaning Crafts Sundry expenses Legal and professional 62,719 29,790 10.149 21,764 3.582 4,349 1,422 1,881 2,268 2,643 7,157 846 52,535 28, 187 8,501 22,461 1, 935 3,847 1,290 1,386 1,562 2, 836 900 3,808 3, 392 2,031 150,601 132, 640 Page 17 C A>•OL¢AII Y IIIYI.fY=D DI l T14f BLA-K f¥lvb'14TA114 CEI4TRtt 1,000,879 20. Analysls of net assets between funds Analysis of net assets between funds - current perlod Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year 824.885 55,861 5,000 130,650 (28,017) 880,746 5,000 143,150 {28,017> 12,500 Total 837,385 163,494 1,000,879 Analysis of net assets between funds - prior period Reslricted Unrastrictgd funds funds 2023 2023 Total funds 2023 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year 854,675 43,q51 5,000 92,069 {21, 755) 897,826 5,000 104,569 (21, 755) 12,500 Total 867, 175 718,465 985, 640 Page 23 CAN'OLrAtN Y Ivil'%i"i DD D'J Th¢ B'LA￿￿ Vivbi¥ i AIN ￿￿¢1¥T￿£ (A Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 21. Related party transactions The aggregate capital and reserves and the result for the year of subsidiaries excluded from consolidalion was as follows.. Name of undertaking- Slop Y Myndydd Du Profitl(Loss) - £32,734 Capital and Reserves- £10,973 The company is a Private Limited Company by guarantee vrfithout share capital, company number 11436421. The company was incorporated on 27th June 2018. Transactions wlth tradlng Company During the year the charity purchased goods on behalf of the trading company totalling £190,641 (2023- £131,244). During the year Ihe ch8rity collecled income on behalf of the trading company lotalling £318,096 (2023.. £218,371) During the year the charily recharged staff and rent costs lotalling £96,858 (2023: £75,674). At th8 year the tr8ding company was owed by the charity £16.351 {2023 - £8,610). Page 24