**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 March 2024**
**Re-create-Cardiff and Vale Play Services Association (A company limited by guarantee)**
|**Contents**|**Page**|**Page**|
|---|---|---|
|Report of the management committee|**1**|**3**|
|||**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 2024**
year ended 31[st] March 2024.
## **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 2024 (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 2024 (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)**
## **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 2024, 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
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.
## _**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.
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 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.
Caroline R Candy 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 March 2024**
|**Unrestricted**
**Restricted**
**Funds**
**Funds**
**2024**
**2024**
**Notes**
**Incoming resources**
Incoming resources:
Voluntary income
**2**
--
--
Activities for generating funds
**3**
57,157
--
**Total incoming resources**
57,157
--
**Resources expended**
Costs of generating funds:
Fundraising trading: cost of goods sold
**4**
2,164
--
Charitable activities
**4**
8,889
--
Governance costs
**4**
42,778
--
**Total resources expended**
53,831
--
**Net income/(deficit) for the year**
**5**
3,326
--
**Net movement in funds**
3,326
--
**Reconciliation of funds**
Total funds brought forward
156,728
--
Transfers
--
--
**Total funds carried forward**
160,054
--|**Total**
**Funds**
**2024**
**_£_**
--
57,157
57,157
2,164
8,889
42,778
53,831
3,326
3,326
156,728
--
160,054|**Total**
**Funds**
**2023**
**_£_**
--
70,159
70,159
1,144
9,453
32,370
42,967
27,192
27,192
129,536
--
156,728|
|---|---|---|
**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 March 2024**
|**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**|**2024**
**_£_**
47,448
500
--
112,702
113,202
596
112,606
160,054
160,054
--
160,054|**2023**
**_£_**
52,811
500
1,827
103,426
105,753
1,836
103,917
156,728
156,728
--
156,728|
|---|---|---|
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
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 2024**
## **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 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 2024**
## **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
52,357
--
Workshops
4,800
--
57,157
--|**2024**
**Total**
**_£_**
--
--
--
--
--
**2024**
**Total**
**_£_**
52,357
4,800
57,157|**2023**
**Total**
**_£_**
--
--
--
--
--
**2023**
**Total**
**_£_**
61,939
8,220
70,159|
|---|---|---|
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 2024**
|**4.**
**Total resources expended**
**Unrestricted**
**Restricted**
**_£_**
**_£_**
**Fundraising trading: cost of goods**
**sold and other costs**
Cost of sales
955
--
Waste disposal
1,209
--
2,164
--
**Charitable activities**
Motor and travelling
4,060
--
expenses
368
--
Workshops
3,368
--
Telephone and internet
906
--
Stationery, postage and advertising
187
--
8,889
--
**Governance costs**
Staff salaries
23,621
--
Pension contributions
1,360
--
Christmas bonus
670
--
Insurance
3,359
--
Repairs and premises expenses
327
--
Equipment
211
--
Gas and electric
2,023
--
General overheads
4,581
--
Sundry overheads
42
--
Bank and credit card charges
712
--
Professional fees
109
--
Accountancy
500
--
Less: accountancy adj
(100)
400
Depreciation
5,363
--
42,778
--|**2024**
**Total**
**_£_**
955
1,209
2,164
4,060
368
3,368
906
187
8,889
23,621
1,360
670
3,359
327
211
2,023
4,581
42
712
109
400
5,363
42,778
|**2023**
**Total**
**_£_**
154
990
1,144
3,229
385
5,004
801
34
9,453
18,542
1,298
410
2,892
958
446
(2,025)
2,202
101
442
48
600
6,456
32,370|
|---|---|---|
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 2024**
|**5.**
**Net incoming resources for the year**
This is stated after charging:
Pension costs
Accountancy (external scrutiny)
Depreciation of fixed assets
**6.**
**Analysis of staff costs**
Salaries and wages
Pension costs
Total
|**2024**
**_£_**
1,360
500
5,363
7,223
23,621
1,360
24,981
|**2023**
**_£_**
1,298
600
6,456
8,354
18,542
1,298
19,840|
|---|---|---|
No employee received emoluments of more than £60,000.
The average number of employees during the year was 3 (2023: 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 (2023: 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. (2023: 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 2024**
|**9.**|**Tangible fixed assets**|**Freehold**|**Office**|**Motor**||
|---|---|---|---|---|---|
|||**property**|**equipment**|**Vehicles**|**Total**|
|||**_£_**|**_£_**|**_£_**|**_£_**|
||**Cost**|||||
||At 1 April 2023|73,017|60,727|24,400|158,144|
||Additions|--|--|--|--|
||Disposals|--|--|--|--|
||At 31 March 2024|73,017|60,727|24,400|158,144|
||**Depreciation**|||||
||At 1 April 2023|39,365|51,862|14,106|105,333|
||Charge for the year|1,460|1,330|2,573|5,363|
||Elimination on disposals|--|--|--|--|
||At 31 March 2024|40,825|53,192|16,679|110,696|
||**Net book values**|||||
||At 31 March 2024|32,192|7,535|7,721|47,448|
||At 31 March 2023|33,652|8,865|10,294|52,811|
||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**|||**2024**|**2023**|
|||||**_£_**|**_£_**|
||Other debtors and prepayments|||--|1,827|
|||||--|1,827|
|**11.**|**Creditors: amounts falling due within one year**|||**2024**|**2023**|
|||||**_£_**|**_£_**|
||Grant received in advance|||--|--|
||Taxation and social security|||(4)|(165)|
||Trade creditors and accruals|||600|1,000|
||Funds held on behalf of unrelated charity|||--|1,001|
|||||596|1,836|
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 2024**
## **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 2023**|**As at 31st**|**March 2024**|
|||**_£_**|**_£_**|**_£_**|
||Unrestricted funds|156,728|3,326|160,054|
||Restricted funds|--|--|--|
||**Total funds**|156,728|3,326|160,054|
|**14.**|**Analysis of net assets**|**Unrestricted**|**Restricted**|**Total funds**|
|||**_£_**|**_£_**|**_£_**|
||Tangible fixed assets|47,448|--|47,448|
||Current assets|113,202|--|113,202|
||Less: Current liabilities|(596)|--|(596)|
||**Net assets as at 31 March 2024**|160,054|--|160,054|
12