**REGISTERED COMPANY NUMBER: 04712426 REGISTERED CHARITY NUMBER: 1101211**
## **REPORT OF THE TRUSTEES AND**
## **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024**
## **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 2024**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|5|
|**Independent Examiner's Report**||6||
|**Statement of Financial Activities**||7||
|**Balance Sheet**|8|to|9|
|**Notes to the Financial Statements**|10|to|25|
|**Detailed Statement of Financial Activities**||26||
**WILLOWS CENTRE TROEDYRHIW (REGISTERED NUMBER: 04712426)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024**
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 2024. 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
## ITEC
## **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
Page 1
**WILLOWS CENTRE TROEDYRHIW (REGISTERED NUMBER: 04712426)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024**
## **OBJECTIVES AND ACTIVITIES**
## **Volunteers**
The centre has a volunteer's policy in place and aims to recruit and encourage volunteering in all sectors of its work.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
## **Summary of the main achievements during the year:**
Partnership working with MTCBC to provide a five session 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
## **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
Page 2
**WILLOWS CENTRE TROEDYRHIW (REGISTERED NUMBER: 04712426)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024**
## **FINANCIAL REVIEW**
## **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.
## **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 £114,763.
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 £118,328 (2023: £113,420) which is in excess of this target.
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 2026 and the Charity would like to thank Merthyr Tydfil County Borough Council for their continued support.
The Charity has also secured funding for various project throughout the year and has also increased hire costs and maintained current users, while securing new users.
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.
Page 3
**WILLOWS CENTRE TROEDYRHIW (REGISTERED NUMBER: 04712426)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **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
## **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
Page 4
**WILLOWS CENTRE TROEDYRHIW (REGISTERED NUMBER: 04712426)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2024**
## **Trustees**
A Bishop Chairperson D Bulford Treasurer P Howells Company Secretary S Hagerty D Games Co-opted member (resigned 10.4.25)
## **Independent Examiner**
Richard I. Knoyle ACA FCCA 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 28 May 2025 and signed on its behalf by:
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 2024.
## **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 ACA FCCA
Baker Knoyle Chartered Accountants Orbit Business Centre Merthyr Tydfil CF48 1DL
28 May 2025
Page 6
**WILLOWS CENTRE TROEDYRHIW**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2024**
|Unrestricted
funds
Notes
£
**INCOME AND**
**ENDOWMENTS FROM**
Donations and legacies
2
125
**Charitable activities**
Hire Premises
67,452
Other trading activities
3
740
**Total**
68,317
**EXPENDITURE ON**
Raising funds
4
1,500
**Charitable activities**
Youth Activities
63,774
Capital Project
218
**Total**
65,492
**NET**
**INCOME/(EXPENDITURE)**
2,825
**Transfers between funds**
14
1,865
**Net movement in funds**
4,690
**RECONCILIATION OF**
**FUNDS**
Total funds brought forward
114,870
**TOTAL FUNDS CARRIED**
**FORWARD**
119,560|The
Troedyrhiw
Boys &
Restricted
Girls
funds
Club
£
£
148,218
-
-
-
-
-
148,218
-
-
-
152,535
-
8,665
2,834
161,200
2,834
(12,982)
(2,834)
(1,865)
-
(14,847)
(2,834)
351,570
287,262
336,723
284,428|2024
Total
funds
£
148,343
67,452
740
216,535
1,500
216,309
11,717
229,526
(12,991)
-
(12,991)
753,702
740,711|2023
Total
funds
£
132,366
56,856
-
189,222
1,469
203,465
11,803
216,737
(27,515)
-
(27,515)
781,217
753,702|
|---|---|---|---|
The notes form part of these financial statements
Page 7
**WILLOWS CENTRE TROEDYRHIW (REGISTERED NUMBER: 04712426)**
## **BALANCE SHEET 31 AUGUST 2024**
|Notes
**FIXED ASSETS**
Tangible assets
10
**CURRENT ASSETS**
Debtors
11
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
12
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
14
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|2024
£
536,881
12,137
197,046
209,183
(5,353)
203,830
740,711
740,711
119,561
621,150
740,711|2023
£
548,598
14,499
195,913
210,412
(5,308)
205,104
753,702
753,702
114,870
638,832
753,702|
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.
## The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 8
**WILLOWS CENTRE TROEDYRHIW (REGISTERED NUMBER: 04712426)**
## **BALANCE SHEET - continued**
## **31 AUGUST 2024**
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 28 May 2025 and were signed on its behalf by:
A Bishop - Trustee
The notes form part of these financial statements
Page 9
**WILLOWS CENTRE TROEDYRHIW**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024**
## **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 exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
## **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 10
**WILLOWS CENTRE TROEDYRHIW**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024**
## **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.
continued...
Page 11
**WILLOWS CENTRE TROEDYRHIW**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024**
## **1. ACCOUNTING POLICIES - continued**
## **Organisational status**
## **Going concern**
The financial statements have been prepared on a going concern basis. See Note 18 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.
## **2. DONATIONS AND LEGACIES**
|Donations
Grants
Service Level Agreement
Grants received, included in the above, are as follows:
MTCBC
Merthyr Valley Homes
Voluntary Action Merthyr Tydfil
Garfield Western
**OTHER TRADING ACTIVITIES**
Membership|2024
£
125
51,139
97,079
148,343
2024
£
18,370
2,132
10,637
20,000
51,139
2024
£
740|2023
£
1,546
39,834
90,986
132,366
2023
£
9,700
5,134
-
25,000
39,834
2023
£
-|
|---|---|---|
## **3. OTHER TRADING ACTIVITIES**
continued...
Page 12
**WILLOWS CENTRE TROEDYRHIW**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024**
## **4. RAISING FUNDS**
## **Raising donations and legacies**
**----- Start of picture text -----**
||||
|---|---|---|
|2024|2023|
|£|£|
|Staff costs|1,500|1,469|
|NET INCOME/(EXPENDITURE)|
|Net income/(expenditure) is stated after charging/(crediting):|
|2024|2023|
|£|£|
|Depreciation - owned assets|11,717|11,803|
|Accountancy & Independent Examiners Fee|2,832|2,664|
**----- End of picture text -----**
## **5. NET INCOME/(EXPENDITURE)**
## **6. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 August 2024 nor for the year ended 31 August 2023.
There are no high paid staff earning over £60,000.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 August 2024 nor for the year ended 31 August 2023.
## **7. STAFF COSTS**
**----- Start of picture text -----**
||||
|---|---|---|
|2024|2023|
|£|£|
|Wages and salaries|109,189|103,134|
|Other pension costs|2,563|2,319|
|111,752|105,453|
**----- End of picture text -----**
The average monthly number of employees during the year was as follows:
**----- Start of picture text -----**
||||
|---|---|---|
|2024|2023|
|Youth activities - full time equivalent|9|9|
**----- End of picture text -----**
No employees received emoluments in excess of £60,000.
Included in the above is employers national insurance contributions amounting to £1,246 (2023: £1,896).
The key management of the charity comprises the Directors/Trustees. The total benefits of the the key management personnel of the charity was £Nil.
continued...
Page 13
**WILLOWS CENTRE TROEDYRHIW**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024**
## **8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
1,541
**Charitable activities**
Hire Premises
48,282
**Total**
49,823
**EXPENDITURE ON**
Raising funds
-
**Charitable activities**
Youth Activities
11,332
Capital Project
256
**Total**
11,588
**NET INCOME/(EXPENDITURE)**
38,235
**Transfers between funds**
16,149
**Net movement in funds**
54,384
**RECONCILIATION OF FUNDS**
Total funds brought forward
60,485
**TOTAL FUNDS CARRIED FORWARD**
114,869|The
Troedyrhiw
Boys &
Restricted
Girls
funds
Club
£
£
130,825
-
8,574
-
139,399
-
1,469
-
192,133
-
8,712
2,835
202,314
2,835
(62,915)
(2,835)
(16,149)
-
(79,064)
(2,835)
430,635
290,097
351,571
287,262|Total
funds
£
132,366
56,856
189,222
1,469
203,465
11,803
216,737
(27,515)
-
(27,515)
781,217
753,702|
|---|---|---|
## **9. CHARITABLE ACTIVITY COSTS**
|**Activity**
Youth activities
Capital projects|**Direct costs**
**£**
206,090
5,690
211,780|**Support costs**
**£**
10,219
6,027
16,246|**Total**
**£**
216,309
11,717
228,029|
|---|---|---|---|
Support costs are allocated against the activities of the organisation on a percentage of activity basis as follows:
continued...
Page 14
**WILLOWS CENTRE TROEDYRHIW**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024**
## **9. CHARITABLE ACTIVITY COSTS - continued**
|**Capital**
**Allocation Basis**
**Equipment**
**Management**
**Activities**
Youth activities
-
4,884
Capital projects
6,027
-
6,027
4,884
**Governance:**
Independent Exam. Fee
2,832
**10.**
**TANGIBLE FIXED ASSETS**
Freehold
property
improvements
£
**COST**
At 1 September 2023 and 31 August 2024
452,022
**DEPRECIATION**
At 1 September 2023
129,533
Charge for year
8,743
At 31 August 2024
138,276
**NET BOOK VALUE**
At 31 August 2024
313,746
At 31 August 2023
322,489
**11.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors|**Capital**
**Equipment**
-
6,027
6,027
2,832|**Management**
4,884
-
4,884||**Finance**
2,503
-
2,503|**Governance**
2,832
-
2,832|**Governance**
2,832
-
2,832||**Total**
10,219
6,027
16,246|
|---|---|---|---|---|---|---|---|---|
|||||Land &
Buildings
(TB&GC)
£
233,687
8,505
2,835
11,340
222,347
225,182||Plant and
machinery
£
26,624
25,697
139
25,836
788
927
2024
£
12,137||Totals
£
712,333
163,735
11,717
175,452
536,881
548,598
2023
£
14,499|
continued...
Page 15
**WILLOWS CENTRE TROEDYRHIW**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024**
## **12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Social security and other taxes
Other creditors
Pension creditor
Net Wages
Accrued expenses|2024
£
512
1
451
1,236
3,153
5,353|2023
£
922
-
223
-
4,163
5,308|
|---|---|---|
## **13. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
The balances on restricted funds are represented by the following underlying assets:
|Fixed assets
Net Current Assets
**Analysis of Reserves:**
Amounts set aside to write down fixed assets
Other designated and restricted funds
Free Reserves|**Unrestricted**
**funds**
**£**
1,233
118,328
119,561
1,233
-
118,328
119,561|**Restricted**
**funds**
**£**
535,648
85,502
621,150
535,648
85,502
-
621,150|**Total Funds**
**2024**
**£**
536,881
203,830
740,711
536,881
85,502
118,328
740,711|**Total Funds**
**2023**
**£**
548,598
205,104
753,702
548,598
91,684
113,420
753,702|
|---|---|---|---|---|
**NOTE FOR LINKED CHARITY** : Included in the £91,491 Restricted Net Current Assets is £62,085 related to the Troedyrhiw Boys & Girls Club 'linked' charity. Included in the £535,648 Restricted Fixed Assets is £222,347 related to the Troedyrhiw Boys & Girls 'linked' charity.
continued...
Page 16
**WILLOWS CENTRE TROEDYRHIW**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024**
## **14. 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)
WCVA (Storm Dennis Fund)
Active Merthyr
The Troedyrhiw Boys & Girls Club
SLA MTCBC Summer of Fun
Arnold Clark Foundation
VAMT Youth Led Grant
Garfield Western
MTCBC Diversity Fund
MTCBC Warm HUB
MTCBC (Playfest)
**TOTAL FUNDS**|At 1/9/23
£
113,420
1,450
114,870
35,007
653
286,959
-
13,809
1,517
3,251
287,262
506
27
2,225
8,088
(472)
-
-
638,832
753,702|Net
movement
in funds
£
3,043
(217)
2,826
(1,307)
591
(7,358)
2,318
(14,484)
-
(4,733)
(2,835)
(144)
(28)
-
9,547
(875)
3,291
200
(15,817)
(12,991)|Transfers
between
funds
£
1,865
-
1,865
-
-
-
-
675
(1,517)
1,482
-
(362)
1
-
-
1,347
(3,291)
(200)
(1,865)
-|At
31/8/24
£
118,328
1,233
119,561
33,700
1,244
279,601
2,318
-
-
-
284,427
-
-
2,225
17,635
-
-
-
621,150
740,711|
|---|---|---|---|---|
continued...
Page 17
**WILLOWS CENTRE TROEDYRHIW**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024**
## **14. MOVEMENT IN FUNDS - continued**
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)
Active Merthyr
The Troedyrhiw Boys & Girls Club
SLA MTCBC Summer of Fun
Arnold Clark Foundation
Garfield Western
MTCBC Diversity Fund
MTCBC Warm HUB
MTCBC (Playfest)
SETS Fund
VAMT Legacy Fund
VAMT Food Partnership Fund
**TOTAL FUNDS**|Incoming
resources
£
68,316
1
68,317
-
2,132
-
3,000
87,829
-
-
-
-
20,000
-
8,500
1,600
14,520
1,500
9,137
148,218
216,535|Resources
Movement
expended
in funds
£
£
(65,273)
3,043
(218)
(217)
(65,491)
2,826
(1,307)
(1,307)
(1,541)
591
(7,358)
(7,358)
(682)
2,318
(102,313)
(14,484)
(4,733)
(4,733)
(2,835)
(2,835)
(144)
(144)
(28)
(28)
(10,453)
9,547
(875)
(875)
(5,209)
3,291
(1,400)
200
(14,520)
-
(1,500)
-
(9,137)
-
(164,035)
(15,817)
(229,526)
(12,991)|
|---|---|---|
continued...
Page 18
**WILLOWS CENTRE TROEDYRHIW**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024**
## **14. 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)
WAG Community Facilities & Activities
Programme (CFAP) / Ffos y Fran
Community Fund Capital Fund
Big Music
SLA Staff & Rent and Youth & Community
Officer (MTCBC)
Food Poverty Grant
WCVA (Storm Dennis Fund)
Generation Code Youth
Gellideg Foundation
Active Merthyr
Neighbourly Ltd Fund
The Troedyrhiw Boys & Girls Club
SLA MTCBC Summer of Fun
Arnold Clark Foundation
VAMT Youth Led Grant
Garfield Western
Cost of Living Fund
MTCBC Diversity Fund
MTCBC Playscheme Fund
MTCBC Warm HUB
**TOTAL FUNDS**|At 1/9/22
£
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|Net
movement
in funds
£
38,236
-
38,236
(1,354)
2,582
(7,357)
(500)
(46,886)
(801)
(429)
(564)
(235)
3,251
(426)
(2,835)
(1,515)
(87)
-
(16,912)
(1,460)
6,247
1,730
1,800
(65,751)
(27,515)|Transfers
between
funds
£
16,405
(256)
16,149
-
(2,578)
-
500
-
(799)
-
(436)
(325)
-
26
-
(4,624)
(121)
-
-
1,460
(5,722)
(1,730)
(1,800)
(16,149)
-|At
31/8/23
£
113,420
1,450
114,870
35,007
653
286,959
-
12,812
-
1,517
-
-
3,251
-
287,262
506
27
2,225
8,088
-
525
-
-
638,832
753,702|
|---|---|---|---|---|
continued...
Page 19
**WILLOWS CENTRE TROEDYRHIW**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024**
## **14. MOVEMENT IN FUNDS - continued**
Comparative 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
Big Music
SLA Staff & Rent and Youth & Community
Officer (MTCBC)
Food Poverty Grant
WCVA (Storm Dennis Fund)
Generation Code Youth
Gellideg Foundation
Active Merthyr
Neighbourly Ltd Fund
The Troedyrhiw Boys & Girls Club
SLA MTCBC Summer of Fun
Arnold Clark Foundation
Garfield Western
Cost of Living Fund
MTCBC Diversity Fund
MTCBC Playscheme Fund
MTCBC Warm HUB
**TOTAL FUNDS**|Incoming
resources
£
49,823
-
5,135
1
-
88,725
1
1
-
-
4,000
-
-
6,114
-
25,000
-
6,622
2,000
1,800
139,399
189,222|Resources
Movement
expended
in funds
£
£
(11,587)
38,236
(1,354)
(1,354)
(2,553)
2,582
(7,358)
(7,357)
(500)
(500)
(135,611)
(46,886)
(802)
(801)
(430)
(429)
(564)
(564)
(235)
(235)
(749)
3,251
(426)
(426)
(2,835)
(2,835)
(7,629)
(1,515)
(87)
(87)
(41,912)
(16,912)
(1,460)
(1,460)
(375)
6,247
(270)
1,730
-
1,800
(205,150)
(65,751)
(216,737)
(27,515)|
|---|---|---|
continued...
Page 20
**WILLOWS CENTRE TROEDYRHIW**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024**
## **14. 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)
WAG Community Facilities & Activities
Programme (CFAP) / Ffos y Fran
Community Fund Capital Fund
Street Games
Big Music
SLA Staff & Rent and Youth & Community
Officer (MTCBC)
Food Poverty Grant
WCVA (Storm Dennis Fund)
Generation Code Youth
Gellideg Foundation
Active Merthyr
Neighbourly Ltd Fund
The Troedyrhiw Boys & Girls Club
SLA MTCBC Summer of Fun
Arnold Clark Foundation
VAMT Youth Led Grant
Garfield Western
Cost of Living Fund
MTCBC Diversity Fund
MTCBC Playscheme Fund
MTCBC Warm HUB
MTCBC (Playfest)
**TOTAL FUNDS**|At 1/9/22
£
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|Net
movement
in funds
£
41,279
(217)
41,062
(2,661)
3,173
(14,715)
2,318
(500)
(61,370)
(801)
(429)
(564)
(235)
(1,482)
(426)
(5,670)
(1,659)
(115)
-
(7,365)
(1,460)
5,372
1,730
5,091
200
(81,568)
(40,506)|Transfers
between
funds
£
18,270
(256)
18,014
-
(2,578)
-
-
500
675
(799)
(1,517)
(436)
(325)
1,482
26
-
(4,986)
(120)
-
-
1,460
(4,375)
(1,730)
(5,091)
(200)
(18,014)
-|At
31/8/24
£
118,328
1,233
119,561
33,700
1,244
279,601
2,318
-
(997)
-
-
-
-
-
-
284,427
-
-
2,225
17,635
-
997
-
-
-
621,150
740,711|
|---|---|---|---|---|
continued...
Page 21
**WILLOWS CENTRE TROEDYRHIW**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024**
## **14. 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
Big Music
SLA Staff & Rent and Youth & Community
Officer (MTCBC)
Food Poverty Grant
WCVA (Storm Dennis Fund)
Generation Code Youth
Gellideg Foundation
Active Merthyr
Neighbourly Ltd Fund
The Troedyrhiw Boys & Girls Club
SLA MTCBC Summer of Fun
Arnold Clark Foundation
Garfield Western
Cost of Living Fund
MTCBC Diversity Fund
MTCBC Playscheme Fund
MTCBC Warm HUB
MTCBC (Playfest)
SETS Fund
VAMT Legacy Fund
VAMT Food Partnership Fund
**TOTAL FUNDS**|Incoming
resources
£
118,139
1
118,140
-
7,267
1
3,000
-
176,554
1
1
-
-
4,000
-
-
6,114
-
45,000
-
6,622
2,000
10,300
1,600
14,520
1,500
9,137
287,617
405,757|Resources
Movement
expended
in funds
£
£
(76,860)
41,279
(218)
(217)
(77,078)
41,062
(2,661)
(2,661)
(4,094)
3,173
(14,716)
(14,715)
(682)
2,318
(500)
(500)
(237,924)
(61,370)
(802)
(801)
(430)
(429)
(564)
(564)
(235)
(235)
(5,482)
(1,482)
(426)
(426)
(5,670)
(5,670)
(7,773)
(1,659)
(115)
(115)
(52,365)
(7,365)
(1,460)
(1,460)
(1,250)
5,372
(270)
1,730
(5,209)
5,091
(1,400)
200
(14,520)
-
(1,500)
-
(9,137)
-
(369,185)
(81,568)
(446,263)
(40,506)|
|---|---|---|
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.
continued...
Page 22
**WILLOWS CENTRE TROEDYRHIW**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024**
## **14. MOVEMENT IN FUNDS - continued**
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.
## **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.
## **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.
## **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**
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.
## **Merthyr Valleys Homes (Fit and Fed)**
This funding is to help provide a fitness session and healthy food programme for young people at the centre.
continued...
Page 23
**WILLOWS CENTRE TROEDYRHIW**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024**
## **14. MOVEMENT IN FUNDS - continued**
## **Active Merthyr**
This is to support staff and tutor costs to help provide a varity of sporting activities for young people at the centre.
## **Street Games**
To provide a range of activities for young people living in a low income community.
## **Cost of Living Fund / MTCBC Warm HUB Fund**
This funding provided a free family fun community day together with the supply of 'warm packs' for people in the community in need of such support.
## **MTCBC Diversity Fund**
This funding was to enable the provision of workshops for young people with regards to diversity and inclusivity, together with a reward trip at the end of project.
## **MTCBC Playscheme Fund**
This funded costs to run a playscheme day for children's in the village during the summer holidays.
## **MTCBC Legacy Fund**
This is to fund an arts based project to raise awareness of cultural diversity in the Merthyr Tydfil area.
## **Transfers between funds**
Transfers between funds arise where unrestricted funds have been used to fund shortfalls in restricted projects.
## **Analysis of Designated Funds**
|Unamortised fixed assets
Designated Funds|**2024**
**£**
1,233
1,233|**2023**
**£**
1,450
1,450|
|---|---|---|
Designated funds represent the amounts set aside to write down the remaining net book value of fixed assets held against unrestricted funds.
## **15. RELATED PARTY DISCLOSURES**
The Troedyrhiw Boys & Girls Club, the linked charity has been included within these accounts, and has been separately identified.
continued...
Page 24
**WILLOWS CENTRE TROEDYRHIW**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2024**
## **16. ULTIMATE CONTROLLING PARTY**
The Ultimate controlling party is the Trustees/Directors.
## **17. 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.
|The number of hours contributed by volunteers in the year was:|**2024**
1,934|**2023**
1,872|
|---|---|---|
## **18. 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 2026. 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 25
**WILLOWS CENTRE TROEDYRHIW**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2024**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
Grants
Service Level Agreement
**Other trading activities**
Membership
**Charitable activities**
Premises Hire
**Total incoming resources**
**EXPENDITURE**
**Raising donations and legacies**
Wages
**Charitable activities**
Wages
Pensions
Other costs
Total resources expended
**Net expenditure**|2024
£
125
51,139
97,079
148,343
740
67,452
216,535
1,500
107,689
2,563
117,774
228,026
229,526
(12,991)|2023
£
1,546
39,834
90,986
132,366
-
56,856
189,222
1,469
101,665
2,319
111,284
215,268
216,737
(27,515)|
|---|---|---|
This page does not form part of the statutory financial statements
Page 26