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2022-08-31-accounts

REGISTERED COMPANY NUMBER: 04712426 REGISTERED CHARITY NUMBER: 1101211

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

FOR

WILLOWS CENTRE TROEDYRHIW

Baker Knoyle Chartered Accountants Orbit Business Centre Merthyr Tydfil CF48 1DL

WILLOWS CENTRE TROEDYRHIW

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

Page
Report of the Trustees 1 to 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Balance Sheet 8
Notes to the Financial Statements 9 to 22
Detailed Statement of Financial Activities 23

WILLOWS CENTRE TROEDYRHIW (REGISTERED NUMBER: 04712426)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

This annual report includes the directors' report as required by company law.

OBJECTIVES AND ACTIVITIES

Objectives and aims

Promote the benefit of the inhabitants of Troedyrhiw and the neighbourhood together defined by the Plymouth Ward (hereinafter called "the area of benefit") without distinction of sex, sexual orientation, age, disability, nationality, race or of political, religious or other opinions, by associating together the said inhabitants and the local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfare for recreation and leisure-time occupation with the object of improving the conditions of life for the said inhabitants.

Establish, or secure the establishment of, a Community Centre, maintain and manage the same (whether alone or in co-operation with any local authority or other person or body) in furtherance of the Objects.

Promote such other charitable purposes as may from time to time to determined.

The Charity shall be non-party in politics and non-sectarian in religion.

Significant activities

Five session a week youth provision

Troedyrhiw Early Days Support (TEDS)

Troedyrhiw Vintage ladies.

Leisure Activities

Fitness Classes for Adults and Young People

Ynysowen RFC & Ynysowen Mini & Junior Section

Dog Ring Craft

Heatbeat 95 & NHS classes

Public benefit

The Trustees are aware that the Charity has a responsibility under the Charities Act to demonstrate that it has charitable aims that meet the public benefit requirement and are therefore charitable. The Trustees confirm that they have had regard to the Charity Commission's guidance on public benefit and comply with S17 Charities Act 2011 when considering, planning and implementing the activities of the charity. As Trustees, we believe that the aims of our organisation are charitable and for the public benefit. Furthermore, in our view, no detriment or harm arises from our Charity carrying out its work and we are not aware of any widespread views among others that such detriment or harm might arise.

Grantmaking

Non-applicable

Volunteers

The centre has a volunteer's policy in place and aims to recruit and encourage volunteering in all sectors of its work.

Page 1

WILLOWS CENTRE TROEDYRHIW (REGISTERED NUMBER: 04712426)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022

ACHIEVEMENT AND PERFORMANCE Charitable activities

Summary of the main achievements during the year:

Partnership working with MTCBC to provide a five night a week youth provision

Partnership working with Ynysowen Rugby Club

Increase of organisations hiring the facility

Young people supported with employability skills and training

Youth Club Health & Wellbeing Project

Increase of fitness class for both adult and young people

Street Games Project & US Girls

Performance achieved in charitable activities against objectives set

We operated a varied programme of activities accessible for all community members, extending our provision and services to meet community need.

Any other factors relevant to achieving objectives

Partnership working with MTCBC

Partnership work and offering support and guidance with local voluntary organisations

Grant funders as stated

Fundraising activities

Community Events

Room Hire

Investment performance achieved against performance set:

All previous fundraising activities are active.

All set community outcomes were met.

FINANCIAL REVIEW Principal funding sources

MTCBC Service Level of Agreements (SLA)

Grant giving organisations

Hire charges

Investment policy and objectives

We aim to build our contingency fund to cover at least six month running costs.

Relationship between expenditure and the charities key objectives

Core staff salaries.

Building maintenance and running costs.

Page 2

WILLOWS CENTRE TROEDYRHIW (REGISTERED NUMBER: 04712426)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022

FINANCIAL REVIEW

Reserves policy

The company is working towards setting up a contingency fund, if funding allows, to cover 6 months running costs. The current targeted reserves is therefore £76,477.

Free reserves have been used over this financial period to fund essential core staff salaries and running costs, however, at the end of the year free reserves showed a balance of £58,779 (2021: £56,711).

The trustees will continue monitoring costs and attempt to increase core hall hire income together with attempting to identify further sources of funding for the future and increase free reserves to the targeted level.

Principal financial management policies

All finances are recorded using the QuickBooks Accounting package & Sage Payroll.

All expenditure over £100 must be passed by the committee.

All cheques must have 2 signatures of 3 people designated by the Management Committee.

Funds in deficit

There are no funds materially in deficit.

Going Concern

The Charity has secured a Service Level Agreement up until the 31st March 2024 and the Charity would like to thank Merthyr Tydfil County Borough Council for their continued support.

The Charity is also hopeful that premise hire income will be sustained and increased and that this together with further cost reductions, where possible, and tight cost control, will improve the future general reserve levels.

As a result, these accounts will be prepared on a going concern basis.

FUTURE PLANS

Meet the outcomes of our Business Plan, together with meeting the needs of the community.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

The Willows Centre Troedyrhiw is a Private Company Limited by Guarantee with Charitable Status, registered in England & Wales.

Recruitment and appointment of new trustees

The Willows Centre Troedyrhiw offers all organisations using the building the opportunity to nominate a person to sit on the management board.

Open A.G.M where individuals may be proposed.

A vote at the A.G.M is then taken to accept a new trustee.

(All applicants have a criminal records check, owing to the high volume of children's organisations using the premises).

Organisational structure

Management Committee/ Directors

Staff

Volunteers

Page 3

WILLOWS CENTRE TROEDYRHIW (REGISTERED NUMBER: 04712426)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022

STRUCTURE, GOVERNANCE AND MANAGEMENT Induction and training of new trustees

Relevant training providers are assessable.

Linked Charity

The Charity Commission directed that as of the 6th September 2019 the charity called The Troedyrhiw Boys and Girls Club (524194) ('the linked charity') shall be treated as forming part of the charity called Willows Centre Troedyrhiw (1101211)('the reporting charity') for the purposes of Part 4 (registration) and Part 8 (accounting) of the Charities Act 2011.

All funds and assets of the Troedyrhiw Boys & Girls Club are separately identified as a restricted fund.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

A small contingency fund has been set up, which needs to be increased to an appropriate amount as and when our finances allow.

Recorded monthly financial reports are reviewed in management meetings to continually assess funds.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

04712426 (Not specified/Other)

Registered Charity number

1101211

Registered office

The Willows Bridge Street Troedyrhiw Merthyr Tydfil

Trustees

A Bishop Chairperson D Bulford Treasurer P Howells Company Secretary S Hagerty D Games Co-opted member

Independent Examiner

Richard I. Knoyle Baker Knoyle Chartered Accountants Orbit Business Centre Merthyr Tydfil CF48 1DL

Organisation Manager

The day to day running of the centre is undertaken by Committee Members.

Bankers

Santander

FUNDS HELD AS CUSTODIAN FOR OTHERS

None.

Approved by order of the board of trustees on 12 April 2023 and signed on its behalf by:

Page 4

WILLOWS CENTRE TROEDYRHIW (REGISTERED NUMBER: 04712426)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2022

A Bishop - Trustee

Page 5

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WILLOWS CENTRE TROEDYRHIW

Independent examiner's report to the trustees of Willows Centre Troedyrhiw ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2022.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company 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 your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Richard I. Knoyle

Baker Knoyle Chartered Accountants Orbit Business Centre Merthyr Tydfil CF48 1DL

12 April 2023

Page 6

WILLOWS CENTRE TROEDYRHIW

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2022

Unrestricted
funds
Notes
£
INCOME AND
ENDOWMENTS FROM
Donations and legacies
2
-
Charitable activities
Youth Activities
-
Hire Premises
48,523
Other trading activities
-
Total
48,523
EXPENDITURE ON
Raising funds
3
1,458
Charitable activities
Youth Activities
45,055
Capital Project
301
Total
46,814
NET
INCOME/(EXPENDITURE)
1,709
Transfers between funds
13
(292)
Net movement in funds
1,417
RECONCILIATION OF
FUNDS
Total funds brought forward
59,067
TOTAL FUNDS CARRIED
FORWARD
60,484		 The
Troedyrhiw
Boys &
Restricted
Girls
funds
Club
£
£
131,901
10
-
-
1,130
-
-
-
133,031
10
-
-
94,538
-
8,768
2,835
103,306
2,835
29,725
(2,825)
292
-
30,017
(2,825)
400,619
292,922
430,636
290,097		 2022
Total
funds
£
131,911
-
49,653
-
181,564
1,458
139,593
11,904
152,955
28,609
-
28,609
752,608
781,217		 2021
Total
funds
£
101,616
495
41,645
-
143,756
1,380
113,367
14,251
128,998
14,758
-
14,758
737,850
752,608

The notes form part of these financial statements

Page 7

WILLOWS CENTRE TROEDYRHIW (REGISTERED NUMBER: 04712426)

BALANCE SHEET

31 AUGUST 2022

Notes
FIXED ASSETS
Tangible assets
9
CURRENT ASSETS
Debtors
10
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
11
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
13
Unrestricted funds
Restricted funds
TOTAL FUNDS		 2022
£
560,401
11,637
219,148
230,785
(9,969)
220,816
781,217
781,217
60,485
720,732
781,217		 2021
£
572,305
18,978
165,519
184,497
(4,194)
180,303
752,608
752,608
59,067
693,541
752,608

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2022 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 12 April 2023 and were signed on its behalf by:

A Bishop - Trustee

The notes form part of these financial statements

Page 8

WILLOWS CENTRE TROEDYRHIW

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial reporting standard 102 - reduced disclosure exemptions

The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

The following specific policies are applied:

Voluntary income

Income received by way of grants, gifts or donation is included in full on receipt unless it is subject to a condition when it is treated as deferred income.

Deferred income

Income or grants received in advance are held as deferred income and carried forward to future accounting periods to be released when the defined purposes of the work or project have been completed, approved or certified.

Gifts in kind

Gifts in kind are included in the income and expenditure account where they are applied in carrying out charitable activities, where the company would otherwise have to purchase the donated facility and the benefit is both quantifiable and material. The quantifiable benefit is shown as both incoming and expended resources within the appropriate funds. Where the gift is an asset it is treated as income and taken to stock or fixed assets as appropriate.

The value of services provided by volunteers is not quantified.

Investment income

Investment income is included when receivable.

Trading income

Trading income is recognised when earned.

Government Grant Income comprises specific project related direct support. see note 9, Incoming Resources, for amounts.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

continued...

Page 9

WILLOWS CENTRE TROEDYRHIW

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022

1. ACCOUNTING POLICIES - continued

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property improvements - at varying rates on cost Land & Buildings (TB&GC) - 2% on cost Plant and machinery - at variable rates on reducing balance

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Designated funds are those unrestricted funds set aside for a specific purpose by the Board.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Organisational status

The organisation is a company limited by guarantee and a registered charity. The directors are the trustees, and are set out within the Trustees Annual Report, they form a board of trustees which is the executive body of the charity, the aims and objectives and rules for governance are set out in the charitable company's Memorandum and Articles of Association.

Tangible fixed assets

Tangible fixed assets are included in the balance sheet at historic cost less accumulated depreciation. grant receipts which fund fixed asset acquisitions are taken to restricted funds and the appropriate depreciation charge is made against those funds over the expected useful life of the asset.

Leased assets

Fixed assets acquired under finance leases are included in the balance sheet at historic cost less accumulated depreciation. The present value of future rentals is shown as a liability. Interest payable in each period is charged as an expended resource in proportion to the amount outstanding under the lease. Operating lease rentals are charged as expended resources as incurred.

Stock

Stock is included in the balance sheet at the lower of cost or net realisable value, provisions being made as appropriate against any obsolete or slow moving items. Where stock is held for a specific restricted purpose the relevant incoming resources are held as balances on restricted funds.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.

Going concern

The financial statements have been prepared on a going concern basis. See Note 17 for further information.

Branch Accounting

These accounts include the activity of the Troedyrhiw Boys and Girls Club a linked charity. Branch accounting has been adopted for this arrangement.

continued...

Page 10

WILLOWS CENTRE TROEDYRHIW

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022

2.
DONATIONS AND LEGACIES
Donations
Grants
Service Level Agreement
Grants received, included in the above, are as follows:
MTCBC
Merthyr Valley Homes
MTCBC (Covid Rates Grant)
Arnold Clark Foundation
Voluntary Action Merthyr Tydfil
Garfield Western
3.
RAISING FUNDS
Raising donations and legacies
Staff costs
4.
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets
Accountancy & Independent Examiners Fee		 2022
£
11
30,051
101,849
131,911
2022
£
1,186
640
-
1,000
2,225
25,000
30,051
2022
£
1,458
2022
£
11,904
2,466		 2021
£
-
22,949
78,667		 2021
£
-
22,949
78,667
101,616
2021
£
8,149
800
14,000
-
-
-
22,949
2021
£
1,380
2021
£
14,251
2,370

5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 August 2022 nor for the year ended 31 August 2021.

There are no high paid staff earning over £60,000.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 August 2022 nor for the year ended 31 August 2021.

continued...

Page 11

WILLOWS CENTRE TROEDYRHIW

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022

6. STAFF COSTS

Wages and salaries
Other pension costs
The average monthly number of employees during the year was as follows:
Youth activities - full time equivalent		 2022
£
67,311
1,346
68,657
2022
5		 2021
£
49,511
473
49,984
2021
3

No employees received emoluments in excess of £60,000.

Included in the above is employers national insurance contributions amounting to £2,522 (2021: £Nil).

The key management of the charity comprises the Directors/Trustees. The total benefits of the the key management personnel of the charity was £Nil.

7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
14,001
Charitable activities
Youth Activities
495
Hire Premises
41,635
Other trading activities
(1)
Total
56,130
EXPENDITURE ON
Raising funds
1,380
Charitable activities
Youth Activities
54,083
Capital Project
1,686
Total
57,149
NET INCOME/(EXPENDITURE)
(1,019)
Transfers between funds
800
Net movement in funds
(219)
RECONCILIATION OF FUNDS
Total funds brought forward
59,286		 The
Troedyrhiw
Boys &
Restricted
Girls
funds
Club
£
£
87,615
-
-
-
-
10
1
-
87,616
10
-
-
59,284
-
9,730
2,835
69,014
2,835
18,602
(2,825)
(800)
-
17,802
(2,825)
382,817
295,747		 Total
funds
£
101,616
495
41,645
-
143,756
1,380
113,367
14,251
128,998
14,758
-
14,758
737,850

continued...

Page 12

WILLOWS CENTRE TROEDYRHIW

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022

7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued

Unrestricted
funds
£
TOTAL FUNDS CARRIED FORWARD
59,067		 The
Troedyrhiw
Boys &
Restricted
Girls
funds
Club
£
£
400,619
292,922		 Total
funds
£
752,608

8. CHARITABLE ACTIVITY COSTS

Activity Direct costs Support costs Total
£ £ £
Youth activities 131,767 9,284 141,051
Capital projects 5,952 5,952 11,904
137,719 15,236 152,955

Support costs are allocated against the activities of the organisation on a percentage of activity basis as follows:

Allocation Basis Capital
Equipment		 Management Finance Governance Total
Activities
Youth activities - 4,749 2,069 2,466 9,284
Capital projects 5,952 - - - 5,952
5,952 4,749 2,069 2,466 15,236
Governance:
Independent Exam. Fee 2,466

9. TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
Freehold
property
improvements
£
COST
At 1 September 2021 and 31 August 2022
452,022
DEPRECIATION
At 1 September 2021
111,853
Charge for year
8,876
At 31 August 2022
120,729
NET BOOK VALUE
At 31 August 2022
331,293
At 31 August 2021
340,169		 Land &
Buildings
(TB&GC)
£
233,687
2,835
2,835
5,670
228,017
230,852		 Plant and
machinery
£
26,624
25,340
193
25,533
1,091
1,284		 Totals
£
712,333
140,028
11,904
151,932
560,401
572,305

continued...

Page 13

WILLOWS CENTRE TROEDYRHIW

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

10.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other debtors
11.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Social security and other taxes
Other creditors
Pension creditor		 2022
£
11,637
2022
£
655
9,044
270
9,969		 2021
£
18,978
2021
£
692
3,477
25
4,194

12. ANALYSIS OF NET ASSETS BETWEEN FUNDS

The balances on restricted funds are represented by the following underlying assets:


Unrestricted
funds
Restricted
funds
Total Funds
2022		 Total Funds
2021
£ £ £ £
Fixed assets 1,706 558,695 560,401 572,305
Net Current Assets 58,779 162,037 220,816 180,303
60,485 720,732 781,217 752,608
Analysis of Reserves:
Amounts set aside to write down fixed
assets		 1,706 558,695 560,401 572,305
Other designated and restricted funds - 162,037 162,037 123,244
Free Reserves 58,779 - 58,779 57,059
60,485 720,732 781,217 752,608

NOTE FOR LINKED CHARITY : Included in the £162,037 Restricted Net Current Assets is £62,080 related to the Troedyrhiw Boys & Girls Club 'linked' charity. Included in the £558,695 Restricted Fixed Assets is £228,017 related to the Troedyrhiw Boys & Girls 'linked' charity.

continued...

Page 14

WILLOWS CENTRE TROEDYRHIW

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022

13. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Designated Fund
Restricted funds
Miscellaneous Capital Asset Fund
Merthyr Valleys Homes (Fit & Fed)
WAG Community Facilities & Activities
Programme (CFAP) / Ffos y Fran
Community Fund Capital Fund
Street Games
SLA Staff & Rent and Youth &
Community Officer (MTCBC)
Food Poverty Grant
VAMT (Mental Health Fund)
WCVA (Storm Dennis Fund)
Homeless Prevention Fund
Generation Code Youth
Gellideg Foundation
Active Merthyr
Neighbourly Ltd Fund
The Troedyrhiw Boys & Girls Club
SLA MTCBC Summer of Fun
Us Girls (MTCBC)
Arnold Clark Foundation
VAMT Youth Led Grant
Garfield Western
MTCBC (Youth Pool Table)
TOTAL FUNDS		 At 1/9/21
£
56,711
2,356
59,067
37,771
1,144
301,674
3,000
46,459
1,600
551
1,946
3,082
1,000
560
280
400
292,922
252
900
-
-
-
-
693,541
752,608		 Net
movement
in funds
£
1,710
-
1,710
(1,410)
(495)
(7,358)
(3,000)
13,239
-
(551)
-
(3,082)
-
-
(280)
-
(2,825)
6,393
(900)
235
2,225
25,000
(292)
26,899
28,609		 Transfers
between
funds
£
358
(650)
(292)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
292
292
-		 At
31/8/22
£
58,779
1,706
60,485
36,361
649
294,316
-
59,698
1,600
-
1,946
-
1,000
560
-
400
290,097
6,645
-
235
2,225
25,000
-
720,732
781,217

Page 15

continued...

WILLOWS CENTRE TROEDYRHIW

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022

13. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Miscellaneous Capital Asset Fund
Merthyr Valleys Homes (Fit & Fed)
WAG Community Facilities & Activities
Programme (CFAP) / Ffos y Fran
Community Fund Capital Fund
Street Games
SLA Staff & Rent and Youth &
Community Officer (MTCBC)
VAMT (Mental Health Fund)
Homeless Prevention Fund
Active Merthyr
The Troedyrhiw Boys & Girls Club
SLA MTCBC Summer of Fun
Us Girls (MTCBC)
Arnold Clark Foundation
VAMT Youth Led Grant
Garfield Western
MTCBC (Youth Pool Table)
TOTAL FUNDS		 Incoming
resources
£
48,523
-
639
-
-
82,284
-
-
1
10
20,696
-
1,000
2,225
25,000
1,186
133,041
181,564		 Resources
Movement
expended
in funds
£
£
(46,813)
1,710
(1,410)
(1,410)
(1,134)
(495)
(7,358)
(7,358)
(3,000)
(3,000)
(69,045)
13,239
(551)
(551)
(3,082)
(3,082)
(281)
(280)
(2,835)
(2,825)
(14,303)
6,393
(900)
(900)
(765)
235
-
2,225
-
25,000
(1,478)
(292)
(106,142)
26,899
(152,955)
28,609

Page 16

continued...

WILLOWS CENTRE TROEDYRHIW

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022

13. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Designated Fund
Restricted funds
Miscellaneous Capital Asset Fund
Merthyr Valleys Homes (Fit & Fed)
Voluntary Action Merthyr Tydfil
WAG Community Facilities & Activities
Programme (CFAP) / Ffos y Fran
Community Fund Capital Fund
Street Games
Youth Cymru (Money for Life)
SLA Staff & Rent and Youth &
Community Officer (MTCBC)
TK MAXX
Food Poverty Grant
VAMT (Mental Health Fund)
WCVA (Storm Dennis Fund)
Homeless Prevention Fund
Generation Code Youth
Gellideg Foundation
Active Merthyr
Neighbourly Ltd Fund
The Troedyrhiw Boys & Girls Club
SLA MTCBC Summer of Fun
SLA MTCBC Rock Painting
Us Girls (MTCBC)
TOTAL FUNDS		 At 1/9/20
£
55,592
3,694
59,286
40,143
344
500
309,032
2,100
178
18,404
125
3,572
551
1,946
3,082
1,000
1,160
280
400
295,747
-
-
-
678,564
737,850		 Net
movement
in funds
£
319
(1,338)
(1,019)
(2,372)
800
-
(7,358)
900
-
28,055
-
(1,972)
-
-
-
-
(600)
-
-
(2,825)
252
(3)
900
15,777
14,758		 Transfers
between
funds
£
800
-
800
-
-
(500)
-
-
(178)
-
(125)
-
-
-
-
-
-
-
-
-
-
3
-
(800)
-		 At
31/8/21
£
56,711
2,356
59,067
37,771
1,144
-
301,674
3,000
-
46,459
-
1,600
551
1,946
3,082
1,000
560
280
400
292,922
252
-
900
693,541
752,608

continued...

Page 17

WILLOWS CENTRE TROEDYRHIW

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022

13. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Designated Fund
Restricted funds
Miscellaneous Capital Asset Fund
Merthyr Valleys Homes (Fit & Fed)
WAG Community Facilities & Activities
Programme (CFAP) / Ffos y Fran
Community Fund Capital Fund
Street Games
SLA Staff & Rent and Youth &
Community Officer (MTCBC)
Food Poverty Grant
Gellideg Foundation
The Troedyrhiw Boys & Girls Club
SLA MTCBC Summer of Fun
SLA MTCBC Rock Painting
Us Girls (MTCBC)
TOTAL FUNDS		 Incoming
resources
£
56,130
-
56,130
-
800
-
900
78,667
-
-
10
5,000
1,349
900
87,626
143,756		 Resources
Movement
expended
in funds
£
£
(55,811)
319
(1,338)
(1,338)
(57,149)
(1,019)
(2,372)
(2,372)
-
800
(7,358)
(7,358)
-
900
(50,612)
28,055
(1,972)
(1,972)
(600)
(600)
(2,835)
(2,825)
(4,748)
252
(1,352)
(3)
-
900
(71,849)
15,777
(128,998)
14,758

continued...

Page 18

WILLOWS CENTRE TROEDYRHIW

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022

13. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Designated Fund
Restricted funds
Miscellaneous Capital Asset Fund
Merthyr Valleys Homes (Fit & Fed)
Voluntary Action Merthyr Tydfil
WAG Community Facilities & Activities
Programme (CFAP) / Ffos y Fran
Community Fund Capital Fund
Street Games
Youth Cymru (Money for Life)
SLA Staff & Rent and Youth &
Community Officer (MTCBC)
TK MAXX
Food Poverty Grant
VAMT (Mental Health Fund)
WCVA (Storm Dennis Fund)
Homeless Prevention Fund
Generation Code Youth
Gellideg Foundation
Active Merthyr
Neighbourly Ltd Fund
The Troedyrhiw Boys & Girls Club
SLA MTCBC Summer of Fun
SLA MTCBC Rock Painting
Arnold Clark Foundation
VAMT Youth Led Grant
Garfield Western
MTCBC (Youth Pool Table)
TOTAL FUNDS		 At 1/9/20
£
55,592
3,694
59,286
40,143
344
500
309,032
2,100
178
18,404
125
3,572
551
1,946
3,082
1,000
1,160
280
400
295,747
-
-
-
-
-
-
678,564
737,850		 Net
movement
in funds
£
2,029
(1,338)
691
(3,782)
305
-
(14,716)
(2,100)
-
41,294
-
(1,972)
(551)
-
(3,082)
-
(600)
(280)
-
(5,650)
6,645
(3)
235
2,225
25,000
(292)
42,676
43,367		 Transfers
between
funds
£
1,158
(650)
508
-
-
(500)
-
-
(178)
-
(125)
-
-
-
-
-
-
-
-
-
-
3
-
-
-
292
(508)
-		 At
31/8/22
£
58,779
1,706
60,485
36,361
649
-
294,316
-
-
59,698
-
1,600
-
1,946
-
1,000
560
-
400
290,097
6,645
-
235
2,225
25,000
-
720,732
781,217

continued...

Page 19

WILLOWS CENTRE TROEDYRHIW

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022

13. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Designated Fund
Restricted funds
Miscellaneous Capital Asset Fund
Merthyr Valleys Homes (Fit & Fed)
WAG Community Facilities & Activities
Programme (CFAP) / Ffos y Fran
Community Fund Capital Fund
Street Games
SLA Staff & Rent and Youth &
Community Officer (MTCBC)
Food Poverty Grant
VAMT (Mental Health Fund)
Homeless Prevention Fund
Gellideg Foundation
Active Merthyr
The Troedyrhiw Boys & Girls Club
SLA MTCBC Summer of Fun
SLA MTCBC Rock Painting
Us Girls (MTCBC)
Arnold Clark Foundation
VAMT Youth Led Grant
Garfield Western
MTCBC (Youth Pool Table)
TOTAL FUNDS		 Incoming
resources
£
104,653
-
104,653
-
1,439
-
900
160,951
-
-
-
-
1
20
25,696
1,349
900
1,000
2,225
25,000
1,186
220,667
325,320		 Resources
Movement
expended
in funds
£
£
(102,624)
2,029
(1,338)
(1,338)
(103,962)
691
(3,782)
(3,782)
(1,134)
305
(14,716)
(14,716)
(3,000)
(2,100)
(119,657)
41,294
(1,972)
(1,972)
(551)
(551)
(3,082)
(3,082)
(600)
(600)
(281)
(280)
(5,670)
(5,650)
(19,051)
6,645
(1,352)
(3)
(900)
-
(765)
235
-
2,225
-
25,000
(1,478)
(292)
(177,991)
42,676
(281,953)
43,367

Restricted funds represent balances held to fund future projects where the resources have been received and are required by the donors to fund a specific project.

Where balances on restricted funds are designated as fixed assets this is the amount within the fund set aside for the future depreciation of those assets.

The remaining balances on restricted funds represent amounts where funds have been received or are receivable and where the expenditure is restricted to specific purposes by the donor.

Activities undertaken within each major restricted fund

The restricted funds of the charity have been applied during the year or are held for future expenditure in the following areas:

Miscellaneous Capital Asset Fund

This fund holds the unamortised value of plant and machinery and building improvement expenditure where the original funding formed part of the organisations restricted income.

continued...

Page 20

WILLOWS CENTRE TROEDYRHIW

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022

13. MOVEMENT IN FUNDS - continued

SLA Staff and Rent/Youth Community Officer

MTCBC fund a full time Youth & Community Officer post through a SLA along with part time staff and rent for the youth club to be open five nights a week during term time to interact with young people.

Community Facilities Activities Programme (CFAP)/ Ffos-y-Fran Community Fund

Capital funding received to build a mezzanine floor structure and purchase equipment.

Street Games

This is for funding for a big youth event at the centre to involve all youth clubs.

Food Poverty Grant

This grant is for cafe equipment such as new tables and chairs and kitchen equipment to enable young people to learn how to prepare meals.

WCVA (Storm Dennis)

This funding was for storage cupboard and communal fridge in the event of an emergency, so the centre could be used as a hub for local residents.

Homeless Prevention Fund

This fund to to provide resources to help tackle issues that young people face.

Generation Code Youth

This funding was to provide laptops and headphones for young people for podcasts.

Gellideg Foundation

This was to provide funding for tutors to run music workshops at the centre for young people.

SLA MTCBC Summer of Fun/SLA MTCBC Rock Painting

To support fun play Leisure, Recreational, Sporting and Cultural Activities for Children & Young People.

Troedyrhiw Boys & Girls Club

This charity (previous charity number 524194), is now a 'linked' charity. All funds related to this charity will be kept as restricted and expended in line with the charity objectives.

Arnold Clark Foundation

This was for funding for food supplies/meals for young people who attended the centre.

VAMT Youth Led Grant

This was funding for a t-shirt printer.

Garfield Western

This funding is to enable young people to build a better future by providing life skills such as cooking and finance budgeting etc in a safe environment.

MTCBC (Youth Pool Table)

This was to fund a new pool table for the youth club.

Transfers between funds

Transfers between funds arise where unrestricted funds have been used to fund shortfalls in restricted projects.

continued...

Page 21

WILLOWS CENTRE TROEDYRHIW

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2022

13. MOVEMENT IN FUNDS - continued

Transfers between funds - continued

Analysis of Designated Funds

2022 2021
£ £
Unamortised fixed assets 1,706 2,008
Designated Funds 1,706 2,008

Designated funds represent the amounts set aside to write down the remaining net book value of fixed assets held against unrestricted funds.

14. RELATED PARTY DISCLOSURES

The Troedyrhiw Boys & Girls Club, the linked charity has been included within these accounts, and has been separately identified.

15. ULTIMATE CONTROLLING PARTY

The Ultimate controlling party is the Trustees/Directors.

16. GIFTS IN KIND

Volunteer Time

The value of volunteer time is not quantified in terms of money but the time contributed by volunteers is an invaluable resource in terms of the outstanding contribution made by them.

2022 2021
The number of hours contributed by volunteers in the year was: 1,440 565

17. GOING CONCERN

The Charity is heavily reliant on the Service Level Agreements provided by Merthyr Tydfil County Borough Council and SLA's have been agreed to the 31st March 2024. Beyond this date continuation of the charity's operation will be dependent on further renewal of the SLA's.

At present, there is no reason to believe the organisation will not continue as a going concern.

Page 22

WILLOWS CENTRE TROEDYRHIW

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2022

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Grants
Service Level Agreement
Charitable activities
Premises Hire
Total incoming resources
EXPENDITURE
Raising donations and legacies
Wages
Charitable activities
Wages
Pensions
Other costs
Total resources expended
Net income		 2022
£
11
30,051
101,849
131,911
49,653
181,564
1,458
65,853
1,346
84,298
151,497
152,955
28,609		 2021
£
-
22,949
78,667
101,616
42,140
143,756
1,380
48,131
473
79,014
127,618
128,998
14,758

This page does not form part of the statutory financial statements

Page 23