Charity number: 1100526 Company number: 02365298
Re-create-Cardiff and Vale Play Services Association (A company limited by guarantee)
Report and financial statements
for the year ended 31[st] March 2023
Re-create-Cardiff and Vale Play Services Association (A company limited by guarantee)
Contents
| Page | |
|---|---|
| Report of the management committee | 1 – 3 |
| Independent examiner’s report | 4 |
| Statement of financial activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 - 12 |
Re-create-Cardiff and Vale Play Services Association (A company limited by guarantee)
Report of the management committee for the year ended 31[st] March 2023
The management committee presents its directors’ report and unaudited financial statements for the year ended 31[st] March 2023.
Reference and administrative information
| Charity name: | Re-create-Cardiff and Vale Play Services Association | Re-create-Cardiff and Vale Play Services Association |
|---|---|---|
| Charity registration number: | 1100526 | |
| Company registration number: | 02365298 | |
| Registered office and | ||
| operational address: | Ely Bridge Industrial Estate, | |
| Wroughton Place, | ||
| Cardiff. | ||
| CF5 4AB. | ||
| Management committee: | J. Jones | (Chairperson) |
| D. Gower | ||
| P. Jolley | ||
| Accountants: | Naunton Jones | Le Masurier, |
| Chartered Certified Accountants and Registered Auditors, | ||
| 12 York Place, | ||
| Barry, | ||
| Vale of Glamorgan. | ||
| CF62 7ED. | ||
| Bankers: | Unity Trust |
1
Re-create-Cardiff and Vale Play Services Association (A company limited by guarantee)
Report of the management committee for the year ended 31[st] March 2023 (continued)
Our objectives
The objects for which the charity is established are to provide and promote the development of facilities and opportunities for play, recreation and leisure time occupation for the children and the young people of Cardiff and the Vale of Glamorgan and the surrounding areas. This includes facilities for which children have need by reason of their youth or social and economic circumstances.
How our activities deliver public benefit
The facilities which we provide will improve the condition of life for children and young people by promoting their physical, mental and spiritual well-being. The charity, by engaging the use of waste materials for play and creative purposes, promotes environmental well-being.
Financial review
Against the backdrop of recessionary conditions and cost cutting in the public sector it has been another difficult year for the charity. The charity has found it difficult to secure additional funding. However, due to significant cost cutting the charity has made a small surplus of income over expenditure.
Structure, governance and management
Re-create-Cardiff and Vale Play Services Association is constituted as an incorporated company limited by guarantee whose governing document is its Memorandum and Articles of Association (adopted 10[th] May 2006). It was granted charitable status on 5[th] November 2003 and is registered with the Charity Commissioners, number 1100526. The management committee is elected by members at the Annual General Meeting. It meets regularly to direct the operations of the Charity. Each member has considerable experience in working with children.
Risk management
The management committee has assessed the major risks to which the charity is exposed and is satisfied that the systems in place mitigate those risks.
Responsibilities of the management committee
Company law requires the management committee to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company as at the balance sheet date and of the incoming resources and application of resources, including the income and expenditure, for the financial year. In preparing these financial statements, the management committee should follow best practice and:
-
select suitable accounting policies and then apply them consistently;
-
make judgements and estimates that are reasonable and prudent; and
-
prepare the financial statements on the going concern basis unless it is not appropriate to assume that the company will continue on that basis.
The management committee is responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and which enable them to ensure that the financial statements comply with the Companies Act 2006. The management committee is also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
2
Re-create-Cardiff and Vale Play Services Association
(A company limited by guarantee)
Report of the management committee for the year ended 31[st] March 2023 (continued)
Members of the management committee
Members of the management committee, who are directors for the purpose of company law and trustees for the purpose of charity law, who served during the year and up to the date of this report are set out on page 1. This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small entities.
Approved by the management committee on _______ and signed on its behalf by:
J. Jones
3
Re-create-Cardiff and Vale Play Services Association (A company limited by guarantee)
Independent examiner’s report to the trustees of
Re-create-Cardiff and Vale Play Services Association
I report on the Accounts of the Re-create-Cardiff and Vale Play Services Association for the year ended 31[st] March 2023, which are set out on pages 5 – 12.
Respective Responsibilities of Trustees and Examiner
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (“the 2006 Act”).
The charity’s trustees consider that an audit is not required for this year under Part 16 of the 2006 Act and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts under Section 145 of the Act
-
to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the Charities Act); and
-
to state whether particular matters have come to my attention.
Basis of independent examiner’s statement
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent Examiner’s Statement
In connection with my examination, no material matters have come to my attention (other than that disclosed below) which gives me cause to believe that in, any material respect:
-
accounting records were not kept in accordance with Section 386 of the Companies Act 2006; or
-
the accounts do not accord with such records; or
-
the accounts do not comply with relevant accounting requirements under Section 396 of the Companies Act 2006 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the Charities SORP (FRS102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this respect in order to enable a proper understanding of the accounts to be reached.
P.V.K. Chaffey F.C.C.A., Naunton Jones Le Masurier, 12 York Place, BARRY, Vale of Glamorgan. CF62 7ED. Date:
4
Re-create-Cardiff and Vale Play Services Association (A company limited by guarantee)
Statement of financial activities (including income and expenditure account)
For the year ended 31[st] March 2023
| Unrestricted Restricted Total Funds Funds Funds 2023 2023 2023 Notes £ Incoming resources Incoming resources: Voluntary income 2 -- -- Activities for generating funds 3 70,159 -- Total incoming resources 70,159 -- Resources expended Costs of generating funds: Fundraising trading: cost of goods sold 4 1,144 -- Charitable activities 4 9,453 -- Governance costs 4 32,370 -- Total resources expended 42,967 -- Net income/(deficit) for the year 5 27,192 -- Net movement in funds 27,192 -- Reconciliation of funds Total funds brought forward 129,536 -- Transfers -- -- Total funds carried forward 156,728 -- |
Total Funds 2022 £ 3,070 57,317 60,387 1,134 6,857 40,321 48,312 12,075 12,075 117,461 -- 129,536 |
|---|---|
The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities.
5
Re-create-Cardiff and Vale Play Services Association (A company limited by guarantee)
Balance sheet as at 31[st] March 2023
| Notes Fixed assets Tangible assets 9 Current assets Closing stocks Debtors 10 Cash at bank and in hand Creditors: amounts falling due within one year 11 Net current assets Net assets Funds Unrestricted 13 Restricted 13 Total funds |
2023 £ 52,811 500 1,827 103,426 105,753 1,836 103,917 156,728 156,728 -- 156,728 |
2022 £ 59,267 500 1,318 72,030 73,848 3,579 70,269 129,536 129,536 -- 129,536 |
|---|---|---|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under Section 477 of the Companies Act 2006 and that members have not required the company to obtain an audit in accordance with Section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirement of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies’ regime.
Approved by the management committee on __ and signed on its behalf by
J. Jones
6
Re-create-Cardiff and Vale Play Services Association (A company limited by guarantee)
Notes to the financial statements
For the year ended 31 March 2023
1. Accounting policies
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.
1.1 Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Companies Act 2006. The charity constitutes a public benefit entity as detailed by FRS 102.
1.2 Fund accounting
The charity only holds unrestricted funds. These are funds received or generated that are available for use at the discretion of the trustees in furtherance of the general objectives and purpose of the charity.
1.3 Incoming Resources from Charitable Activities
- Incoming resources from charitable activities includes income under contract or where entitlement to grant funding is subject to specific performance conditions. This income is recognised as the related services are provided and there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Income is deferred when the amounts received are in advance of the performance of the service or event to which they relate.
It is not the policy of the charity to show incoming resources net of expenditure.
Voluntary Income
Voluntary income including donations, gifts and grants that provide core funding or are of a general nature are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Such income is only deferred when the donor specifies it must be used in future accounting periods or the donor has imposed conditions which must be met before the charity has unconditional entitlement.
This includes capital grants.
1.4 Resources expended
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which is relates.
-
Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes including the charity’s vending machine, payphone and investment portfolio.
-
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
-
Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the fees and costs linked to the strategic management of the charity.
7
Re-create-Cardiff and Vale Play Services Association (A company limited by guarantee)
Notes to the financial statements (continued)
For the year ended 31 March 2023
Tangible Fixed assets
Fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life. The following rates are used:
-
Freehold property – 2% per annum straight line basis
-
Office equipment – 15% per annum reducing balance basis
-
Motor vehicles – 25% per annum reducing balance basis
Impairment reviews are carried out as and when evidence comes to light that the recoverable amount of a functional fixed asset is below its net book value due to damage, obsolescence or other relevant factors.
Pension costs
The company operates a defined-contribution pension scheme for employees. The assets of the scheme are held separately from those of the charity. The annual contributions payable are charged to the statement of financial activities incorporating the income and expenditure account.
Closing stocks
Closing stocks are valued at the lower of cost and net realizable value.
| 2. Grants and donations Unrestricted Restricted £ £ Haf Project -- -- Cardiff City Council -- -- Track 2000 -- -- HMRC JRS Grants -- -- 3. Activities for generating funds Unrestricted Restricted £ £ Scrapstore 61,939 -- Workshops 8,220 -- 70,159 -- |
2023 Total £ -- -- -- -- -- 2023 Total £ 61,939 8,220 70,159 |
2022 Total £ -- -- -- 3,070 3,070 2022 Total £ 51,577 5,740 57,317 |
|---|---|---|
8
Re-create-Cardiff and Vale Play Services Association (A company limited by guarantee)
Notes to the financial statements (continued)
For the year ended 31 March 2023
| 4. Total resources expended Unrestricted Restricted 2023 Total £ £ £ Fundraising trading: cost of goods sold and other costs Cost of sales 154 -- Waste disposal 990 -- 1,144 -- Charitable activities Motor and travelling 3,229 -- Volunteers’ expenses 385 -- Workshops 5,004 -- Telephone and internet 801 -- Stationery, postage and advertising 34 -- 9,453 -- Governance costs Staff salaries 18,542 -- Pension contributions 1,298 -- Christmas bonus 410 -- Insurance 2,892 -- Repairs and premises expenses 958 -- Equipment 446 -- Gas and electric (2,025) -- General overheads 2,202 -- Training -- -- Sundry overheads 101 -- Bank and credit card charges 442 -- Professional fees 48 -- Accountancy 600 -- Depreciation 6,456 -- Loss on disposal -- -- 32,370 -- |
2022 Total £ 402 732 1,134 2,940 279 2,325 1,292 21 6,857 21,476 1,186 440 2,579 193 -- 3,136 2,161 -- 36 603 35 600 7,876 -- 40,321 |
|---|---|
9
Re-create-Cardiff and Vale Play Services Association (A company limited by guarantee)
Notes to the financial statements (continued)
For the year ended 31 March 2023
| 5. Net incoming resources for the year This is stated after charging: Pension costs Accountancy (external scrutiny) Depreciation of fixed assets Loss on disposal of fixed assets 6. Analysis of staff costs Salaries and wages Pension costs Total |
2023 £ 1,298 600 6,456 -- 8,354 18,542 1,298 19,840 |
2022 £ 1,186 600 7,876 -- 9,662 21,476 1,186 22,662 |
|---|---|---|
No employee received emoluments of more than £60,000.
The average number of employees during the year was 3 (2022: 3) with all employee time involved in providing either support to the governance of the charity or to the activities undertaken by the charity.
The charity operates a pension scheme on behalf of its employees. The charity has made contributions on behalf of 2 of its employees (2022: 2).
7. Trustee remuneration and related party transactions
No members of the management committee received any remuneration or expense reimbursement during the year.
No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the year. (2022: Nil).
8. Taxation
As a charity, Re-create-Cardiff and Vale Play Services Association is exempt from tax on income and gains falling within Section 505 of the Taxes Act 1988 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.
10
Re-create-Cardiff and Vale Play Services Association
(A company limited by guarantee)
Notes to the financial statements (continued)
For the year ended 31 March 2023
| 9. | Tangible fixed assets | Freehold | Office | Motor | |
|---|---|---|---|---|---|
| property | equipment | Vehicles | Total | ||
| £ | £ | £ | £ | ||
| Cost | |||||
| At 1 April 2022 | 73,017 | 60,727 | 24,400 | 158,144 | |
| Additions | -- | -- | -- | -- | |
| Disposals | -- | -- | -- | -- | |
| At 31 March 2023 | 73,017 | 60,727 | 24,400 | 158,144 | |
| Depreciation | |||||
| At 1 April 2022 | 37,905 | 50,297 | 10,675 | 98,877 | |
| Charge for the year | 1,460 | 1,565 | 3,431 | 6,456 | |
| Elimination on disposals | -- | -- | -- | -- | |
| At 31 March 2023 | 39,365 | 51,862 | 14,106 | 105,333 | |
| Net book values | |||||
| At 31 March 2023 | 33,652 | 8,865 | 10,294 | 52,811 | |
| At 31 March 2022 | 35,112 | 10,430 | 13,725 | 59,267 | |
| It is likely that the market value of the freehold is substantially in excess of the | |||||
| carrying value at cost. However, the trustees do not have an up to date valuation in | |||||
| this regard. | |||||
| 10. | Debtors | 2023 | 2022 | ||
| £ | £ | ||||
| Other debtors and prepayments | 1,827 | 1,318 | |||
| 1,827 | 1,318 | ||||
| 11. | Creditors: amounts falling due within one year | 2023 | 2022 | ||
| £ | £ | ||||
| Grant received in advance | -- | -- | |||
| Taxation and social security | (165) | (5,328) | |||
| Pension costs | -- | -- | |||
| Trade creditors and accruals | 1,000 | 3,100 | |||
| Funds held on behalf of unrelated charity | 1,001 | 5,807 | |||
| 1,836 | 3,579 |
11
Re-create-Cardiff and Vale Play Services Association (A company limited by guarantee)
Notes to the financial statements (continued)
For the year ended 31 March 2023
12. Pensions
The company operates a defined-contribution scheme for employees. The funds are held and administered separately from the company.
| 13. | Movement in funds | As at | Net movement | Net movement |
|---|---|---|---|---|
| 1st April 2022 | As at 31st | March 2023 | ||
| £ | £ | £ | ||
| Unrestricted funds | 129,536 | 27,192 | 156,728 | |
| Restricted funds | -- | -- | -- | |
| Total funds | 129,536 | 27,192 | 156,728 | |
| 14. | Analysis of net assets | Unrestricted | Restricted | Total funds |
| £ | £ | £ | ||
| Tangible fixed assets | 52,811 | -- | 52,811 | |
| Current assets | 105,753 | -- | 105,753 | |
| Less: Current liabilities | (1,836) | -- | (1,836) | |
| Net assets as at 31st March 2023 | 156,728 | -- | 156,728 |
12