Company registration number 04238990 Charity registration number,. 1093690 Sparkle (South Wales) (A company Ilmlted by guarantee) Annual Report and Flnancial St8tements for the Year End8d 31 March 2024 HSJ Accountants Ltd Severn House Hazell Drive Newport South Wales NP10 8FY Sparkle (South Wales) Contents Reference and Administrative Details Trustees, Report 2to8 Slatemenl of Trustees, Rasponsibilities Independent Examlnerfs Report 10 Slatem8nl of FinanGial Activities 11 to12 Balance Sheél 13 Staternanl of Cash Flows 14 Notes lo the Financlal Slatemants 15to30 Sparkle (South Wales) Reference and Admlnlstratlve Detalls Trustees Mr M Gerrard Ms Kelly Dr S Magulre Mrs J Sheppard Mr N G Williams Ms N Garnon Mr A Durston Mrs T A Pead Mrs S E Hawdon Mr M Gerrard Secrntary Charlty Regl•tratlon Number 1093690 Company R•glstratlon Numb•r 04238990 The chailty Is Incorporaled in the United Kingdom. Serennu Children's Centre Cwrt Camlas Rogerstone Nèwport South Wales NP10 9LY Sperkle Appeal Office Serennu Children's Centre High Cross Road Newport NP10 9LY R•gl$t•r•d Offl¢• Prfnclpal Offlc• Ind•p•nd•nt Examlner HSJ Accountants Ltd Severn House Hazell Drive N8WPOrt South Wales NP10 8FY A¢¢ountants HSJ Accountants Ltd Severn House Hazell Drive Newport South Wales NP10 8FY Bankers Barclays Bank PIC Newport Commerclal Street 14 Commercial Street Newport South Wales NP20 1HE Page 1 Sparkle (South Wales) Trustees. Report The trustees, who are directors for th8 purpos8s of company law, pr8S8nt th8 annual report together wllh the financlal statements of the charitable company for the year ended 31 March 2024. Trustee Mr M Gerrard Ms Kelty Dr S Maguire Mrs J Sheppard Mr N G Wllllams Ms N Garnon Mr A Dursion Mrs T A Pead Mrs S E Hawdon (appoinled 4 May 2023) ObJe¢ifvgs and actlvltl Objects and alm8 Sparkle (South Wales), 'Sparkle'. has a vlslon that all chlldren and young people wlth addltional needs should be able to achieve their full potential. regardless of Iheir disability or 198ming difficulties. Sparkl8 will work to achieve this directly with famllles in Gwent, and wllh tha knowledge gained, influence ¢hang8 across the UK. Our aim is to achieve this through four key areas of work: 1. Equltable enhanced ser¥ice provlsion for childien wlth Addiiional nèeds across Gwenl; 2. Training, educatlng. and worklng wlth othér providers to enable children with additional need8 to realise their potential., 3. Advocacy wlthln Gwént, across Wales (and ultimately the UK) to advance the optlmal model of car8 and support., 4. Conduct in-depth evaluations of our serrfices and explore unmel needs among our familias. Publlc benefit The charity's purpose is to benefit Ihe children with dlsabillty or developmentsl difficulties. anqj their families in Gwant. Th8 Iwstees can evidence thal the aclivllies carried out by Ihe charity throughoul the last year have been for the benefit of those children and families who have identified additional and special needs. The Irustees confirm that they have complied wilh Ihe requlrements of sectlon 4 of the Charitles Acl 2011 lo have due regard to the public benefrt guidance published by the Charity Commlssion for England and Wales. Our memorandum and artlcl8s have been upd8led in May 2021 to reflect current leglslation Use of volunteers We have continued to benefit from fantastic volunteers, currently we have 40 weekly volunteers, ranging in age from 16-70+ including some of our fomier service useis. This equates to 7.497 hours of work, at a cost savlng of £78,114. Page 2 Sparkla (South Wales) Trustees. Report hlgv•ments and porformance The charily pursues a range of obiecttves in line with ils overarching role in providing services and support to childr8n with addiiional ne8ds. and to th8lr famili8s. However there has bean a contlnulng rlse In the number of chlldren & young people (CYP) needlng our speclallst support. wilh 15-20 referrals belng recelved per monlh. This has led to a waltlng Ilst 01158 chlldren and young people across Ihe patch, broken down as follows- Serennu 1061 North 14 1 Wesl 38. In 2023124 an average of 150 chlldren attended clubs In Serennu every week, in additlon to 72 children accessing specialist swimming lessons per week. In North Gwent, we havè contsnued to èxpand the number of places for CYP. and currently have 16 chlldren attendlng w88kly clubs. In Caerphilly, we hove 13 CYP acce8sing weekly clubs. We have also hired a lo¢al play cenlre to provide exclusive activities for our famllles In Ihls region. We offer three Medicinema screenings per week, family swim opportunitles, family fun days, and a 'stay and play, weekly session - 1.505 families are registered to attend all of these activities. These actlvlties are open to lamllles across the whole of Gwent. We have also expanded our seThlces by offering io facilitate children's parties in Serennu. which has been very popular with families who have nowhere else that is safe or appropriate for their children. Following an In4epth evaluation of 'unmet needs, In the North of Gwent, we identified that the facilities al Nevill Hall hospital are at the wrong location and are no longer fil for purpose to deliver oplimal care and support to children wilh complex needs. Sparkl8 was ¢ornmission8d by the R8gional Partnershlp Bo8rd to undertake a feaslblllty study In respect of the nead for a new chlldren's centrè. The final report was submltted to the Reglonal PartnershSp Board {RP8) In February 2023, following consultatlon wlth our famllies and partners In Health. Soclal Care. However there has been little action on the part of the RPB to progress thls Important g8p In servlces for the north chlldren. young people and famllles. Our fundraising actlvltles contlnue to be challenging In terms of ralslng enough funds to support 811 our current activities and clubs. We remain heavily relianl on grant funding and our exisling relalionships with Indlvldual and corporat& donors. We have also noted a number of grants giving bodies are no longer able to award grants at the xalo that they had previously. We continue to work hard to secure grants and other income streams. The trust88S 8re committed to ensuring that We maxlmise every grant opportunity that Is avallable to us and lack of grant wrlllng team wlthln Ihe Sparkle team has been a barrler to that. Prior lo COVID 19 we further expanded our services in an effort to provid8 8qUitable provision across Gwent, which added lo the financial pressures on the charlty. Thls necessiiated a seNlce revlew during January to March 2024 which resulled in the loss of 4 clubs, 1 member of slaff was rèduced In the seThic8 and a reduction in admin hours from 74.5 to 37.5 was implemented. Team Lead hours for the north and west leisure servlce were also reduced from 37.5 to 24. There was a huge awareness raising campaign on behalf of Sparkle to bring to the attention of lamili8s and all other relevant stakeholders th8 fact that Sparkle does not receiv8 any statutory funding to dellver s8NIc8s. In response to the financlal sltuallon Sparkle has Increased fundralslng support elther through becomlng charlty of the year for businesses. recrulllng 2 fundtaislng volunteers and establishing a parent-led fundraising committee. Page 3 Sparkle (South Wales) Trustees. Report Re88arch and Dovelopment Our Research and Development Officer has been 8xtr8mety busy over the lasl year. conducting in41epth eveluations of our seNices and researching Issues which are importanl to children with disabilitles, their lamllies and th& organisations working with them. We produced an impact report for 2023, which collated figures on our reath, formal evaluation findings and informal feedback from children and families. We have been working wlth Children's Centre Psychology In Aneurin Bevan Unlversily H8alth Board on an in-depth evaluation of Sparkle's Continuing Care club. a leisure provision for children and young p80ple with the most complex needs. We have also conducted an evaluation of all of our other leisure clubs. including parent-report surveys on goals and family W8llbelng. Our Impact report 2023 can bo found our wobslte: https.'Ilwww.sparkleappeal.orglckflnderluserfileslfileslSparkle%201mpactVo20Report%202023.pdf The hlgh standard of research belng Conducted wllhin Sparkle is recognised by our links with universities and other organisalions keen to collaborate with us on our Y￿rk. We have faciliiated Mastef's students from the School of Psychology 8t Cardiff University to conduct observations of children within the clubs to ass8ss goals relating to wellbeing and social developmenl. We are expbring Ihe accessibility of swimming lessons for chlldren with disabilities with Disabilily Sport Wales. including conducting an evaluation of Sparkle's swimming lessons. and we conllnua to analyse current trends and future rates of childhood disability with the support of the Royal Statislical Society's initiative, Stats'sticians for Soclety and colleagues in Cardiff University and Aneurin Bevan Health Board. In line with our stratagic alm of promoting optimal models of care for children with complex needs, we continue to conduct In4epth evaluatlons Into servlces developed and delivered by Sparkle. and to disseminate these locally and natlonally, The evaluations have directly informed our service delivery, and helped us to refine the sèrvices and facilities we offer. Over the past year, Sparkle's Research Officer presented our evaluation findlngs at three national conferences.. the Royal College of Paediatric and Child Health Conference, British Psychological Soclety Heallh Psychology Conference. and the Brilish Academy of Childhood Disabilily Annual Scientific Meeting. Two of our papers were published In peei-reviewed academic journals, and a further three papers were uploaded to MedRxiv, a pre-print setver, while under revlew at peor rèvlew journals. All of our 8V8luation roports and research papers can be found on our webslte, Includlng lay summarles: https'.IAvMv.sparkleappeal.orglresearch. As part of our research actlvlties. Sparkl8 has also produced a series of webinarslpodcasls with As You See 11 Media on co-location of health, soclal care and thlrd sector servlces: provldlng hollstlc support for families: delivering specialist leisure services for chlldren wlth disabilities,. and tha importance of research and evaluation to seprfice developmenl. These webinars included a variety of experls, including healih and social care professlonals. young peopla and family-carers, a researcher from Cardiff University, and Sparkle staff. A video tour of Serennu Chlldren's Cenlrè and Sparkla services was filmed alongside the webinars. which are also available as podcasts. These can be found on Sparkle's webslte: httPS.'IlwwN.sparklaappeal.orglaboullwebinars Page 4 Sparkle (South Wales) Trustees. Report Flnanclal f•vI•w Funds raised via grants, our existing individual donors and corporate supporters, and the small amount ralsod by our café and activities resulted in a totsl income of £639,374. Successful grant funding from N8WPOrt and Caerphllly Counclls, and grants from National Lottery Awards for All. Masonic Charitable Foundatlon. Blaenau Gwent Shared Prosperity Furmd and Heb Ffin, had hug8 Impacis on our children's leisure services at Ser8nnu Children's Centre, Caerphilly Children's Centre and 81alna Integrated Chlldren's Centre. A significant award of unresiricted funds from Edward Gosling Foundation ensured the contlnuation and growth of the charity. vthilsl a grant from Wooden Spoon allowed us to provide sports skills and rugby sessSons for chSldren wllh dlsabllltles. The B811ey Thomas Charitable Fund supported our Medicineme screenings this year. Following an emergency appeal lo previous donors, there were also 2 separate donalions amounting tr) £150K which helped to reduce Iho extent of th8 ond of year loss that tho charlty was faclng. Grants and donatlons have been essentlal and our maln sources of income, given the Charitys limited fundraising opportunltles In the context of our locatlon In a Iow-lncome are8, and Current Cost of Ilvlng crlsls. Sparkle's unreslricted reseD4es have reducad to £375.367 as of 31 March 2024. This reserve will be used to safeguard existing activilies and support Ihe operalion of the Charlty. The Charity's expansion into North Gwenl and Caerphilly. and Ihe recommencement of full activilies following the easing of COVID restrictions, has resulted in a major Increase In payroll and other costs. The statemènt of financial activilies for the year on pages 11 & 12 show how income and costs varled Compared to Ihe prlor year, For the new year costs aro forecast to Incroase, rellectlng our expanslon, and the need to address the ever4ncr8aslng waiting list ol CYP who need to joln our servlce. Our forecast for the comlng year Is that our running costs wlll ba In excess of our Income and as such our unrestrlcted reserves will dlmini5h. We are satisfied we have sufficlent r8serves to Cover thls dafieit. In the now year we have appoinled a furthor grants officer to increase income from this source. Pollcy on r•$•Th•$ The trustees have review￿d the rosorves pollcy and, In accoidanco wllh Charfty Commisslon guidelines. have considered the level ol unreslricted weseprfes which It is approprlate for the charity to hold. with the imperative that it shoutrj be able lo conlinue to meet ils charitable objectives in the short term. in the event of a temporary shortfall in unrestrict8d incoma. Thè trustees have concluded Ihai given the inherent risks as noted above it is appropriale to hold sufficient free reserves to cover the core expendilure required to maintain activities for six months. Page 5 Sparkle (South Wales) Trustees. Report Plans for fulure p•rf¢ds Continue to offer a diverse range of activities and support to children and young people wilh disabilitiesl¢omplèx needs and their famtlies in Gwent. Contlnue to offer the opportunlty for children and young people wllh dlsabllltleslcomplex needs to develop skills and try new activities in a safe and non-judgmental envlronment. Contlnue to develop servlces to reach chlldren wlth the most severe complex heallh care needs In liaison with partner agencies. To oxpand our st8ffin9 where feasible io run Ihe clubs at capacity end offer the besi outcomes lor the chlldren and young people we support. . To explore option8 for upskilling community providers to accommodat8 more of our young people in an Integrated community setting. To contlnue undertaklng hlgh quallty seNlco evaluallons, to Identlfy whathar addltlonal seNlces provlded by Sparkle are havlng a posltlve Impact on the lives of children with disabilltie5 and their famllles. . To use the data obtained from in deplh evaluations to both market our seryices to potential funders, and io promote the optimal model of care for these children and young people across Wales and the remalnder of the UK. . To continue to develop and implement robust perfomiance management and monitoring system8 to 8UPPOrt the needs of a growing and successful charily, enabling Sparkle to develop and be more sustalnable for the future. . To continue to develop and implemont quality Gonlrol frameworks and strategy to ensure that all chSldren and young people and thelr famlllas recalve an equltable and hlgh-qualSty servlc8 Irom Sparkle. . To continue to recruit. train and retain regular volunteers, without whom we wouldnl be able to carry out our work. . To promote the development of a new Children's Centre to seNe North Gwent, In line wlth the outcome of our Feasibility study. To Incr8as8 our collaboratlve worklng wlth Local Authorltles and statutory agencl8S to attract more commissioned work. Review and streamline policies and proceduces within Sparkle to ensure greater efficiency and sustainability. Page 6 Sparkle (South Wales) Trustees. Report structuro, govèrnanco and manag•mont Nature of gov•rnlng document The goveming (24,028) Adjustments to cash flows from nonw¢a8h Items Depreclatlon Investment Income 1.814 5,105 (151.141) 1.668 (23.319) Worklng capltal adjustments Decrease in debtors Increasel{decrease) In credltors (Decreaseylncrease In deferred Income Net cash flows from operatlng activltie8 17 19 19 70.182 7,931 10,847 79.950 {19.813) 39,694 83.875 76,512 Cash flows from Invastlng actlvltles Interest receivable and similar income Purchas8 of tangible Ilxèd 8ss8ts Net cash flows from invastlng activiti8s Cash flow8 from flnanclng acllvltl•¥ Repayment of loans and borrowings Net (decreaseylncrease In cash and ￿tsh equlvalents Cash and cash equivalents at 1 April Cash and cash equivalents at 31 March 5,105 1,193 959 16 3,912 959 25,000 (79,963} 693,809 52,471 641.338 613.846 693.809 All of the cash flows are derived Irom continuing operations during the 8bove two P6riods. The noles on pages 1 S to 30 form an integral part of these financial statements. Page 14 Sparkle (South Wales) Notes to the Flnanclal Statemènts for thè Yèar Ended 31 March 2024 1 Charlty status The charity is limited by share capital. incorporated in the United Kingdom. The address of its registered office is". Serennu Chlldren's Centre Cwrt Camlas Rogerstone Newport South Wales NP10 9LY These financlal statements were authorised for issue by the trustees on 19 Seplember 2024. 2 Accounllng pollcles Summary of slgnlflcant accountlng poll¢l•s and koy accountlng éstlmat•$ The prlnclp81 accounting policies applied in the preparation of these financial statemen1$ are set oul below. These policles have been conslstently applied to all the years presented, unless otherwise staled. Statement of compllan¢e The financial statements have been prepared In accordance wllh Accounting and Reporting by Charllles: Stalement of Recommended Pracilce (applicable to Charltles preparlng thelr accounts in accordance wilh the Flnanclal ReportSng Standard appllcable In the UK and Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)). Ihe Financlal Reportlng Standard applicable in the UK and RepubliG of Ireland (FRS 102) and the Companies Act 2006. Bas1$ of pr•p•ratlon The charily constitutes a publlc benefit èntity as definéd by FRS 102. The financial statemenls have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice appllcable lo charities preparing their account8 in accordance wllh the Flnanclal Reportlng Standard applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January 2015) - Charilles SORP (FRS 102). the Flnanclal Reportlng Standard applicable in the Uniled Kingdom and Republic of Ireland (FRS 102) and the Companies Act 2006. Golng conc•m The financial statements have been prepared on a going concern basis. The Irustees assess vthelher the use of th8 going concern basis Is 8pproprl8te l.e. whether there are any material uncertainlies related lo events or condits'ons that may casl significant doubt on the abllity of the Charity to continue as 8 going concern. The trusto8s make this assessment in respect of a period of one year from the date of approval of the financial statements. Page15 Sparkle (South Wales) Notes to the Flnancial Statemènts for the Year Ended 31 March 2024 In¢omo and •ndowm•nl$ All incoming resources are Included in the Statement of Flnancial Activitles (SOFA) when the charity is legally entilled to the income after any perfomance conditlons have been met, the amount can be measured r81iably and it is probable that the Income wlll be rec81ved. Donatlons and legaele8 Donations are recognised when there is entitlement. when receipl Is prob8b18 and the amount can be reliably measured. If thero are conditions attached to the donation and this requlres a level of performance before entit18ment can b8 obtained then income is deferred until those conditions are fully met or the fulfilment of those condltlons Is wlthln the control of the charlty and it Is probable that th&y will be fulfilled. For legacles. entitlement 15 Ihe earfier of the charity being notified of an impendlng dlstrlbutlon or the legacy being received. On occasion legacies will be notified to Ihe charity however it is not possible to measure the amount expected to be dlstribuled. On these occasions, the legacy is treated as a conlingenl assel and dI￿losed. Grants r•c•lvabl• Grants are recognised when Ihe charity has an entitlement to the funds and any condftlons Ilnked to the grants have been met. Where perfomiance conditions are attached to the granl and a￿ yet to be met, the income18 recognlsed as a liability and included on the balanGe sheet as deferred income to be released. D•hrr•d Incom• Deforrad Incom8 represents amounts recelved in respect of fulure periods and is released to incoming resources in the perlod for whlch It has been recelved. Such Income is only deferred when., - The donor specifiès that thé grant or donaiion must only be used in future accounling periods., or The donor has imposed condltlons whlch must be met before Ihe Charity has uncondilional anlitlèment. Glfts In klnd Gifts in klnd have been valued in the accounts at Ihe ¢081 to the charity had it purchased the iiems directly. Glft ald Incomlng resources from tax reclalms are included in the statement of financial aclivities at the same time as the glft to whlch they relate. Invéstment Incom• Divldends are r6cognised once the dividend has been declared and notlficallon has been recelved of the dividend due. Page 16 Sparkle (South Wales) Notes to the Flnanclal Statements for the Year Ended 31 March 2024 Expendlturn All expenditure Is recognlsed once there is a legal or constructive obligation to that expenditure, It Is probable settlement is required and the amount can be measur&d ￿lIably. All costs are allocated to the appllcable expendlture heading Ihal aggregate slmllar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, wilh staff ¢osls allocated on th& basls of time spent, and depre¢latlon Charges allocated on Ihe portion of Ihe asset's use. Other support cosls ar8 allocated based on the spread of staff costs. Ralslng funds These are costs incurred in attractlng voluntary Income. the management of Investments and those Incurred In tradlng actlvltles that ralse funds. Charltabl• •ctlvltles Charltable 0x￿nditUr0 comprises those costs incurrèd by the charity In the dolivary of its activiti88 and $8rvlces for Sls beneficiarles. It Includes both costs that can be allocated dlreclly to 15UGh activltles and those costs of an indirect nature necessary lo support them. Governance ¢ost¥ These Include the costs attributable to the Charltys compli8nce wlth constllutlon81 and statutory requlrements, including Independent revlew, strateglc management and Trustee's meetings and reimbursed expenses, Govemmant granls Government grants are recognlsed based on the accrnal model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relaling to rèv8nu8 are r8¢ognis8d in inwme over the pèriod in which the r61818d costs arè recognlsad. Grants relatlng to assets ar8 r8cognls8d over th8 8XP8Cted useful Ilfe of the asset. Where part of a grant relatlng lo an asset Is deferred, K Is recognlsed as deferred Income. Taxatlon The charily is considered to pass Ihe lesls set out in Paragraph 1 Schedule 6 of the Finance Acl 2010 and therefore it meets the definilion of a charitable company for UK corporalion tax purposes. Accordingly. the charity is polentially exempt ffom laxalion in respect of income or capital gains received wlthln categorles covered by Chapter 3 Part 11 of the Corporatlon Tax Act 2010 or Section 256 of Ihe Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Tanglble fixed assots Individual fixe(S assets Costing £500 or more are initially recorded at ¢ost. Depreciation and amortisatlon Depreclation is provided on tangible fixed ass8ts so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic lrfe as follows.. Asset class Computer equipment Depreclatlon mothod and rate 33% Straightline Page 17 Sparkle (South Wales) Notes to the Flnanclal Statements for the Year Ended 31 March 2024 Trade doblors Debtors are recognised initially at ihe transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for Ihe impairment of debtors is 8Stablished whan there is objective èvidenc8 thal Ihe Charity will not be able to collect all amounts due accordlng to the orlglnal terms of the recelvables. Cash and ￿$h •qulval•nt6 Cash and cash equivalenls comprise cash on hand and call deposits, and olher short-term highly liquid investmenls that are readily convertible to a known amount of cash and are subject lo an inslgnlficant risk of change In value. Trad• credllors Trade creditors are obligations to pay for goods or senlices that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabililies If Ihe charity does not have an unconditional right, at Ihe end of the repor15ng period, to defer settlement of the credltor for al least bNelve months after the r8portlng dale. If there Is an uncondlllonal rfght to d8f8r settlemenl for at leasl Iwelve months after the reportlng date, they are presented as non-Gurrenl Ilabllltles. Trade credilors are recognised inilially al the transaction price and subsequently measured at amortised cost using Ihe effective interesl method. Fund structure Unrestricted Incom8 funds ar• génèral funds thal ara availabla for usa at the trustees discr•tlon in furtherance of the objectlves of the charlty. Daslgnated funds comprlse unreslrlcted funds that hav$ b88n sat aslde by the trustees for partlcular purposes. The aim and use of each deslgnaled fund Is set out Sn th8 notes lo the finandal statements. Restricted funds are funds which are to be used in accordance wilh specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost 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 slatemenls. Penslons and other post retlremont obllgatlons The charity operates a defined contribution p8nslon scheme. Contributions are charged in the stslement of financial activities as they become payable in accordance with the rules of the scheme. Page 18 Sparkle (South Wales) Notes to the Flnanc5al Statements for the Year Ended 31 March 2024 3 Income from donatlon8 and l•ga¢lo3 Unrestrlctod funds G•noral Restrlctsd funds Totsl 2024 Total 2023 Donations and legacies., Donations from companles. trusts and similar proceeds Donations from indlvlduals Legacies Gift aid r8clalmed Grants, Induding capital grants; Grants from other charltles Grants from companies Grants from trusls and other funders 125,753 88,576 21,214 6,341 55.285 30.000 181.038 118.576 21,214 13,841 147,762 42,343 1,537 15,335 7,500 114,985 2.250 114,985 2,250 237,041 3,172 89,827 299,847 92,999 132,750 245,056 544,903 576,768 4 Incomé from eharllable acllvlll•s Unrestrlct•d funds G•n•ral Total 2024 Total 2023 Clubs, actlvltles and cafe sales 82,695 82,695 65.077 5 Incom• from oth•r tradlng •¢tlvlll•8 Unr•8trlctsd funds General Total 2024 Total 2023 Event3 Income., Fundralslng èvènts 6,671 6,671 4.563 6 Investment Income Unr•stricted funds Gonoral Total 2024 Total 2023 Interest receivable and similar income; Inlerest receivable on bank deposits 5,105 5,105 959 Page 19 Sparkle (South Wales) Notes to the Flnanclal Statements for the Year Ended 31 March 2024 7 Expenditure on raislng funds Total 2024 Total 2023 Dlroct costs Costs of generating donations and kgacles 47.297 47,297 11,525 Of the above costs £17,15312023 - £8.852) were attrlbutable to restrlcted funds and £30.144 (2023 - £2,673> were attrlbutsble to unrestricted funds. 8 Exp•ndllurn on ¢harltabl• acllvltl•8 Actlvlty und•rtak•n dlrectly Actlvlty support costs 2024 2023 Centre malntenance and upkeep and play equlpment Clubs, actlvit5es and Cafe sales Governan¢? 52,257 625,944 52,257 683.143 4.527 67,607 588,182 4,081 57,199 4.527 678,201 61,726 739,927 659,870 In addition to the expendilure analysed above there are also govemance costs of £4,527 (2023 £4.081) whlch relate dlrectly to charitable activ51tes. See nota 9 for further dat811s. Of the at)ove costs £357.866 12023 £516.254) wèr8 attrlbutable to restrlcled funds and £382,061 (2023 - £143.616) were attributable to unresiricled funds, Page 20 Sparkle (South Wales) Notes to the Flnancial Statements for the Year Ended 31 March 2024 9 Analy808 of gov•rThan￿ and 8UPPOrt CO8t8 Support Costs allocated to charltabl• a¢tlvltles Governan costs Total 2024 Total 2023 Basis of allocatlon Staff costs Clubs. activities and cafe Sales Hours % of total activlty costs 57,199 57,199 70,292 Governance 4.527 4,527 4,527 4.081 57,199 61,726 74,373 Gov•man¢• costs Unr•strlct•d funds General R•8trlct•d funds Total 2024 Total 2023 Independent examiner fees ExaminatSon of the financial statements Depreciatlon. amortisatlon and other slmllar costs 2,713 2,713 2.413 1,141 673 1,814 4,527 1,868 3,854 673 4,081 10 Not Incomlngloutgolng resources Net outgoing resources for the year Include: 2024 2023 Depreciation of fixed assets 1,668 11 Trustees r•muneratlon and expenses During the year the charity made the following transactions with trustees., £nil {2023 - £71) of expenses were relmburséd to during the year. No trustees, nor any persons connected with them. have recelved any remuneratlon from the Charity during the year. No trusteès have received any other benefils (rom the Charity during the year. Page 21 Sparkle {South Wales) Notes to the Flnanclal Statements for the Year Ended 31 March 2024 12 Staff costs The aggrégate payroll costs We￿ as folk)ws: 2024 2023 Stsff costs durlng th• year ￿r•. Wages and salaries Social security costs Pension cosls Other staff c08t8 571,007 19.321 15.034 25.308 455,030 15,987 11.094 40.115 630,670 522,228 The monthly average number of persons (Includlng senlor management I leadership team) employed by the charlty durlng the yoar was as follows: 2024 2023 Charltable activities Governance Adminlstration 96 13 11 111 110 13 {2023 - 101 of Ihe above employees partlclpated In the Defined Conlribution Pension Schemes. No employee received emoluments of more Ihan £60.000 during the year. The total employee benefits of the key managem8nl personnel of the charily were £102,71912023 - £89.820). The average number of full tlme staff employed In the period was g, and th8 8V8r8ge number of part lime slaff employed was 102, The equivalent number of full time staff employed would be estimaled as 17. 13 Indepond•nl •xamln•rfs r•mun•ratlon 2024 2023 Examination of Ihe financial statements 2,713 2,413 Page 22 Sparkle (South Wales) Notes to the Flnanclal Statements for the Year Ended 31 March 2024 14 Taxatlon Th8 charity Is 8 registered tharity and is therefore exempt from tsxation. 15 Pon$lon and oth•r s¢h•m•s D•fined contrlbutlon penslon schem• The charity operales a defined contrlbutlon pension scheme. The pansion cost charge for the year represents contributions payable by the charfty to the scheme and amounted to £15.035 (2023 £11,094>. 16 Tanglble flxed asMts Furnllur• and equlpment Total Cost At 1 Aprll 2023 Addilions 10,540 1,193 10,540 1.193 At 31 March 2024 11,733 11,733 D•pr•clallon At 1 April 2023 Charge for the year At 31 March 2024 8,629 1,814 8.629 1,814 10,443 10,443 N•1 book valu• At 31 March 2024 1,290 1,290 At 31 March 2023 1,911 1,911 17 Debtorn 2024 2023 other debtors 78.592 148.774 Page 23 Sparkle (South Walès) Notes to the Flnanclal Stateménts for the Year Ended 31 March 2024 18 Cash and cash equlvalent8 2024 2023 Cash on h8nd Cash at bank 21 693.788 613,846 613,846 693,809 19 Credltors: amounts falllng duo wlthln one y•ar 2024 2023 Other credltors Deferred income 8.787 856 39.694 37,634 40,550 Page 24 Sparkle (South Wales) Notes to the Flnanclal Statements for the Year Ended 31 March 2024 20 Funds Balance at 1 Aprll 2023 Incomlng rosources Resources exponded Balance at 31 March 2024 Unrestrlctsd funds G•n•ral Uniestricled income fund 448,045 339,527 (412,205) 375,367 R•strl¢t•d funds AB Invoice ALN Parènts Engagemont Bailoy Barclay8 BGUK Big Lottery Blackwood Englnoerlng Caerphilly CBC Children in Need Community Foundation Wales Edward Gostllng Foundatlon Gwen Mags Heb Ffin ISCAN KLA MafA)nic Charitable FoundatK)n Mr J Harris Mr N Harris NCC Famlly Flrst Play Club NCC PBP Nevill Hall 02E Clubs Peter Harrison Foundallon Prin Wales St James T6sco Bags of H8lp Funding The Waterloo Foundallon Woodspoon Total festrlct•d funds 113,585 23,000 14,109 (14,237) 113,457 23,000 5,522 10,000 (4,478) (9.581) (9,659) (8,708} (8,000> (2,214) (1,089) 9.581 9,659 9,920 2.000 1,950 1.212 6,000 264 1.089 2,000 25.000 3,000 10,000 2,000 10.876 1,940 4,793 14.751 25,000 (14,124) (1,060) (5,207) (8,185) 22.936 25,000 16,919 16,191 67,382 771 14,219 471 59,523 1,429 1,544 19,847 8,285 37.500 89.827 (28,425) (15,510) {104,882) (90,598> (14,219) 10,341 8,966 471 52,999 22,000 (28,524) {1,429) (1,$44) 2.500 2.250 2,500 12,250) 1989) 2,107 995 5.000 2.893 355.899 375.019 280,727 Total funds 803.944 639.374 787.224 656,094 Pag8 25 Sparkle (South Wales) Notes to the Flnanclal Statsments for the Year Ended 31 March 2024 Funds for the Year Endèd 31 March 2023 Balance at 31 March 2023 Balance at 1 Aprll 2022 Incomlng resources Rasource8 expended Unrestrictsd funds G•ner41 Unrestricted income fund 385.331 209.004 (146,290) 448,045 Re8trlct•d AB Invoice AB Medi Swim ALN Parenls Engagement Bardays Blackwood Engineering Blaenau Gwenl CC Caerphilly C8C Children in Need Covld Emergency Appo81 Edward Gostllng Foundation Frontier Medical Group Ltd Gavo Hodge Foundatlon Holiday Club ICF NG ISCAN Mary Homfray Charltable Trust Masonic Charitable Foundalion Mr J Harris Mr N Harris NCC Family Flrst Play Club NCC Famlly Flrst Youth Club NCC FF FLO NCC P8P NCC Summer Nevill Hall Newsque5t 02E Clubs Peler Harrison Foundation Postcode Prin Wales Sport Foundalion Tesco Bags of Help Funding 113,585 6,760 23,000 29,612 12,180 (12,180) (6,760) 113,585 23,000 9,581 6,000 (20,031) 1,535 2,941 30.500 (1,535) (2.677) {46.563) (4.908) (25,000) (71,645) (5.000) (5,000) (1.899) (33,900) (21,586) (2.000) (2,928) (5,0591 (76,368> (44,428) (15,519) (49,514) 2fj4 1.089 17,152 4,908 25,000 71,645 6,000 5,000 1,899 33.900 44,522 22,936 2,000 19.847 21.250 92,750 43,841 15.519 49.514 14.219 10,346 16.919 16,191 67,382 771 51,000 1,358 14,219 (10,346) (13,398) 13,484) (20,187) (5,571) (4,153) (3.456) (2,500) {297) 13.671 3,484 52.210 471 27,500 7,000 59,523 1,429 4.153 5.000 2,500 1.544 297 Page 26 Sparkle {South Walas) Notes to the Flnanclal Statements for the Year Ended 31 March 2024 Balanc• at 31 Mar¢h 2023 Balance at 1 Aprll 2022 Incomlng resources R•$our¢o$ expended The Percy Billon Charity The Watedoo Foundatlon TVA Thlrd Sector ICF Funding Winter of Wellbeing Total r•¥trl¢t•d funds 4,584 1,500 14,584) (505) 12,789) 596 995 2,789 596 442,641 439,624 526,366 355,899 Total funds 827,972 648,628 672.656 803,944 Page 27 Sparkle (South Wal8s) Notes to the Flnanclal Ststements for the Year Ended 31 March 2024 The specific purposes for which the funds are lo be applied are as foll0v￿. AB Invoice - To contribute towards the Caretaker costs and fund Ihe Helplng Hands service. ALN Parents Engagement - Received from ABUHB, fof provldlng parents support and engag8ment. Bally Thomas Charitable Trust- To contributé towards Médicinèma costs and staifing. Barclays - To be used to support the delivery of Sparkle activilies. Bla8nau Gwenl UK Shared Prosperlty Fund - To fund clubs to Increase sports, arts and soclal actlon In Blaenau Gwent. Big Lottery (National Lottery Awards for All) - To lund leisure staffing costs of clubs. Blackwood Enginèoring Trust - To equip an art room at Serennu Children's Centre. Caerphilly County 8orough Council - To fund holiday activilies in Caerphilly. Children in Need - To fund equipment, lrips and activiiies. Communlty Foundalion Wales - To fund a toddler slay and play group. Edward Gostllng Foundatlon - To contrlbute towards operatlonal core costs. Familles Flrst, N¢wport Clty CounGil - To fund play provisions Gwendoline and Margaret Davies Charlly - To fund play provlsSons In Blaenau Gwent. Heb Ffln - To fund play provlslons In Blaenau Gwént. ISCAN - Received from A8UH8, for staff training and development. KIA - To fund leth club salaries and equipment Masonic Charitable Foundatlon - To fund lelsura staff salaries In Caerphllly. Mr Nigel Harris - To funij research and development. Mr John Harris - To fund enrichment activities. Newport Clty Council Partlclpatory Budg8t - To fund after school 8Ctivitl8S. Ordinary 2 Extraordlnary Clubs10201- To fund after school activi￿68. Percy Bllton - To fund outijoor leisure equipment for Serennu Children's Cenlre. Peter Harrison Foundation - To fund swimmlng staff costs. Principality Building Society's Future Generation Fund - To fund administration salaries in Gwenl. Page 28 Sparkle (South Walès) Notes to the Flnanclal Statements for tho Yoar Ended 31 March 2024 St James Place - To fund holiday activities in Bla8nau Gw8nt. Tesco Groundworks -To purchas8 equipment from the "Sparkle Wish List.. Waterloo Foundation - To fund diss6mlnalion of résearch related ￿ Child developmenl. Wooden Spoon - To fund Rugby and Skills sèssions. Page 29 Sparkle (South Wales) Notes to the Flnanclal Statements for the Year Ended 31 March 2024 21 Analysls of nel assets between funds Unrestrlcted funds General Total funds al 31 March 2024 Reslrfctod funds Tangible fixed assets Current assels Current Ilabllltles 963 379,677 5.273 327 312,761 32,361 1,290 692,438 37.634 Total net assets 375,367 280,727 656,094 22 Analy$l$ of n•t funds Al 1 Aprll 2023 Flnanclng cash flows At 31 March 2024 Cash al bank and in hand 693,809 79,963 613,846 Net debt 693,809 79,963 613.846 23 Rolatod party tran$actlons During the year the charity made the following related party transactions: Mr N Harrfs Spouse of trustee During the year Mr N Harrls, the spouse of a trustee, made restricted donations of £30,000 (2023 - £80,000) and unr8Strlct8d donatlons of £nil (2023 - £10.0801 lo Sparkle {South Wales). At the balance sheet date the amount due tolfrom Mr N Harris was £nil (2023 - £nil). 24 Non-adlustlng events after the flnanclal perlod The charlty recelved a significant will and donation legacy after the year ended on 30 August 2024 of £175,000. Given the expected level of costs in the coming year this income is very important lo ensure that the charlty can match 18vels of expenditure with incoming r8sources and ensur8 Ihat Its policy on reserves he￿ can contlnue to be adhered to. Page 30