Company re8iStration number: 04740680 Charity rc8is¢Tation number: 1101631 Costar Partnership (A company limitd by guarantee) Annu91 R¢w)rt Fingn¢i81 Ststements for the Year Endcd 31 March 2024 HSJ Accountants Lid ScY¢m Ho¢ Hazell Drive Newporf South Wales NPIO 8FY
Costar Partnership Contents Strategic Rcport Tnle¢s, Report 2w8 IndependthK ExaminePs Reprt Ststement of Financial Adivill¢S 10 Balanr¢ Sheet Noies lo the Finart¢ial Statements 12w23
Costar Partnershlp Slrategic Report for the Year Ended 31 March 2024 The trustees, wh) are direclors for the pwp)ses of company law, presertt their strategic report for the yew ended 31 Mar¢h 2024, in compliance with s414C of the Companies Act 2006. Fln*ncl41 r•vlt PAndpAlfundln8 Séwre Costhr acknowledw with thanks fimdiTb8 granted by the followin8 or84nisaliony: Torfaen Cowjty Borough Council The Henry Smiih Charity Th¢ National Lottery Community Fund Cwmbran Community Council Nei8hErt)urly Torfaen VoluntAry Allianc¢ Gorficld Weston Costar is pleaqed to work in pthiership with the following organisations., F4T¢Sh8re Galcway Credit Union Bron Afon Social Houging Gweni Police Local Sup¢rm•Tkets- Tesco, ASDA, Sainsburys and Morrisons Coleg Gwenl Community R¢Paint Torfaen Volunty Allian¢¢ Torf&¢n County Borough Council Torfa¢n Play S¢rvi¢¢ Torfaen Young Peoples Support 5ervlce Fairhill Mcthodi$t Church Keep Wale5 Tidy Nei8htK)urly Tasty Not W&8ty reenmeknw Prim School Coed EVA Primary School Gwent Drug and Alcohol Service Pla¢fforn] l.lousin8 suPrt Cilizens Advice Torfa The Stre81¢ reporl approved by lh¢ ¢rustce5 of the ¢hgrity on 6 Sepi¢mb¢r 2024 and $i¢d on its behalf by: Pfee I
Costar Partnerghip Trustees, Report Thc tn9, wlx) ar¢ directors for the purpos¢J of company law. present th¢ annual report tO8eth¢r with thc financial statuncnts of the dwitable ¢ompw for the y¢or cnd¢d 31 March 2024. ObJectlv•s aod Aetivid Objects and The chief objective of the Cosiar partnership 1$ to improve the quality of lif¢ for the residents of South Wesl of Cwmbron. giving priority kn communiticg whi¢h $¢ore highly on the Welsh Index of Multipl¢ Deprivation. Costar ruA8 a series of projects and activities which are gear¢d towards alleviating PDvety and r¢lievin8 the ¢frT¢ds of poverty such as 5ubsthn¢¢ misuK, dcprCs8io uncmployincnt and pjor healih, within th¢ local commwiity. The Costpx Partnership operates out of a LX)rnmunity ¢entre whith 1$ located on a la¢ soclal hou$lng estate iwilt in th¢ 19603. Costar has d¢veloped the centre into a vibrani and liv¢ly hub for the local mUnIty pmviding a loratiotb where people can access inforn)ation gnd supp)rt on a variety of mailers well attending clo3ses and other activitie& The Charity operntcs on a non-judwentsl blS and promotes equaliry and Jocial ju$ti¢¢. All members of the wrnmunity are eligibl¢ lo attend the centre and ovail themsclvcs of the wiices provided. The Charity pronK)les & number of &ctlvkles which combat rA)vety and social isolation. The communiry ¢ provid¢5 h¢althy m¢als at affordable pri¢¢s and provldas an excellent oPrtlity for people to med and mok¢ new friends. The charity also run& a food co> and foodbank to help tIMM¢ Jtrugglin8 to mAke ends mccl. Therc •J¢ also opportw)ities to purch¢ fruit and vcgdibl¢ bogs from a local suppli¢r. In July 2022 Costar re-localcd thij projccl in the nei8hlx)urin8 shopping complex - Fairwater Shops. The shop unit is known as The Costar Community Hwb and dso off¢rJ the additional benefits of drop In advice sessions from 8 number of loc&1 genciej. Costsr also 'Comfflwiity RePaint Torfacn, a paint r¢use projeth aim¢d at savin8 paint from landtlll and putting it to 8(xid us¢ in the community. The paint 18 located At both of ow sites. Costsr place8 a strong emph&8is on herits8c and rr¢4tivity. nitining Ort and craft classe8, family history cluses and cultural evcnls, suth 83 our TimeBubblc project whith organi$¢d tiVitieS around the 70th amilv¢rnary of Cwmbran N¢w Tow Costar is a 8lron8 promoter of environm¢Trtal JwBrene8s acts &8 a Community Litter Hub in p8rtsier$hip with Keep Wales Tidy, a souwe of rwclin8 equipment in parthership with Torfaen County Borough Council and recycling poin¢ for clothes aThd plastics. In addition a ¢ommuniry amn¢sty skip is provided monthty lo help residents wkn cannot a¢c¢ss th¢ lo tip and 13 aimed at rducing flylippin8. Costu promotss s¢if-d¢velopmenl and ¢onfiden¢e buildln& empowerin8 p¢ople to make better choic¢J and imwovc their lift$tyl¢s. Pa8e 2
CoStAr Partnershlp Trnstees, Report The Charity aims w¢ w follows". l.) Identify th¢ is$u¢s and need8 within the community and devise means to overcome these needs. 2.) Provide food for those in need through the food co.op schcmc a8 well as providing lood in cmergcncy and crisis 5iluation throtsKh ow food bank. 3.) Maintain the Torfaen Community RePaint Scheme, providing low cost rccycled painl lo community groups and thos¢ on low incomG8. 4.) Ikv¢lop ihe community c&fe io provide lffordfible meols and inc&8¢ SocialisIOn within the MMlIty. 5,) Work with appTopriately skilled experienced ynGiu. or8anisalionJ 8nd parth¢r or8anisalionx to prnvide professional supwrt and h¢lp lo thos¢ in need in the comrnunity. 6.) Supp)rt and ¢ft¢ourn8e the comrnunlty io successful community groups thai Work in benefii the C4)mmunity itself. 7.) Initia¢¢ ond wpw)rt ¢r¢ative and artisiic activities that 81imulate and encourage innovative ways lo deal with mental health issues and Jocial ex¢lusion. 8.) Build r¢lalionthips with the commwiity ¢0 ¢nrIg¢ incTe&sed ule of the community hall and therefore incr¢ed accc5s for the community to thc benefits provid¢d by th¢ fa¢ilitieJ. 9.) Run projects so that ihey ar¢ rosl eff¢1v¢ $ustsinJbl¢. 10.) 1.¢9d ond rnolivate the community in projects that prolecl the local envimnrncnt and encoura8e a 8ood undetstanding of ¢nvironmental is5ue5 thai face ail individuds. I I,) Arl Js a hub for community litter pickin& recyclin8 of clothu and plastics u wcll as promolin8 reusc and repiirp05in8 ofitem5. 12.) Or8anl8e ¢ommunlty events encourage the community to build relailonships. learn new ski118, SUPPOrt one anuther and break do swi81 b8rri¢rs. 13.) Work with aftd 8upkffi volwiteer3 to gain benellt from their volunleeTing a¢livities tljrough befriendin& leamin& taking port in ncw expcricn¢¢J, h¢lping others, 1¢om buildin8, ¢oThr1d¢t buildin8 ond soGlal intcraclion. 14.) Develop an int¢rc8t in the history and culttwe of Cwmbran and en¢ournge people to meth logeth¢r io thare photographyj personal 8tOTies ottd family history through ow TimeBubblc project. Thiy project helps build Social hesion and Jlrcngthcn community gpirit, Pa8¢ 3
Costar Partnershlp Trllstees, Report ObJeedv4 slrdl¢8lu 47ndaclivlrfes Publlc beAeJ71 Ow chief charitable aim is the relief of FK)verty and all our projects arc run with thai in mind, Our 3crvice5 KC priced at atTordable levels limed at pwple on low incomes and are desId lo improvc the quality of lif¢ of our r¢$idcnts. Our paint project is unique in Torfaen and helps local people lo access good quality painl at low pri¢¢s 08 well as divcrting usabl¢ paiffl from the wa51e str¢am. Our Community Hwb provid a food ¢wp to over 100 families a week helpin8 local people make cnds meet. For those facing emcrR¢ncic8 or in ¢ri$i8 $ittionS we provide a fr¢e ba8 of essential items with which to make a few m¢ais. W¢ also pVIde h¢lp to Ukrainian famllles who have come to Cwmbran ¢0 egC4K the wor in th¢ir We provide a lifeline orsoc1 support for those wh) or¢ vulnerabl4 lonely or socially isolaied with the events, activities and ¢IS wc nuL Ow staff and voluntecr8 &re always ready to chai and moke visitors feel ai hom¢. Our volunt¢¢Tin8 Opportunities offer people the chance to make o rthtribulion and do Jomethin8 Worthwhil either with o view lo gaining work experience or by providin8 the individual with a s¢nK of fidfilmen¢. This year we have welcomed stthnts friyrn Cole8 GwcTht wh) 8ttend sit¢s u part of their ¢ows¢. Both ow sites ar¢ open S days a week providin8 a friendly welcome 2nd a pla¢¢ wlwre local people Can m¢ ond obthin infonnation obout & Tan8e of issues. The Iru8lecs eA*nfirni that they hav¢ eomplied wlth the requiremts of section 17 of thc Clwilics A¢1 2011 to h•ve due rcwd to the publi¢ benefit 8uidAnce published by the Clwity Commission for Ertglwml and Walu. The CoSt•r P•rtn•rJhlp Cbiirm•a's R•porl 1023- 2024 Ov•rvl•w o( Yur Costjr contlnued kn build on our work in the nmunity and mad¢ 8reot progress thls year In the fi development of our projects And servicu. This yew haj b¢¢n one of our most s[U1 In tenns of grpnts and inc4)mc gcncralion. Th¢ income we generated through our proj¢¢ts this year tol&lled £50,OIy)- our hi8hesl ¢v¢r. We were awarded a number of n¢w this year which have enabled us lo make impmv¢ments the fabric of the building in thc forni of ncw radiators for the ho11 and a brand new kitch¢n refiubi5hment. Th¢ radialors were fided by the Nalional Grid and th¢ kitchen fmn thc UK Governmcn¢'S L¢v¢llin8 Up Fun& award¢d by Torfaen County Borough Council, We are deli8knd with the pro8r¢sJ and aff in a stron8 po$iil¢n to d¢llver our servi¢¢s and develop new on¢& Pa8e 4
Costar Partnersblp Trustees, Report Growth nd ExpAnslo Our second silc in FairYaler Shops will soon bc two years old and greaily improv¢d the im( our OrlSatIon makes in the community. Our f(M)d ¢04)p ¢ontinu¢s lo b¢ very popular and helps rcducc food waste while supw)rting fgmilie5 on low inrA>m¢. We knv¢ continued lo increase the service provided ty thi$ site and can now offer Fuel Poverty Vouchers io those in fvel poverty. Our paint rcuse proj¢¢t is now based 01 the new sile and this location makes it more visibl¢ to10¢81 shoppcrs and visilors. We are on¢e &8ain thankfvl to the Henry Smith Charity ond th¢ MOOndan Foundwion for their support in helpin8 us our operations and continu¢ ow ¢xpansion. Bringing People TlIk•r Our theme this year has been 'Brin8iTr8 People To8¢ther' and T¢ducing social i301ation. With the help of funding fmm the Lottery Community Flmd we have been able to fund a free coffee mornin8 ¢oth Friday and olso provid¢ other so¢ial ev¢nts which help peoplc rnpk¢ n¢w fri¢nds ond improve their m¢ntsl wellbBin8. We will conlinuc to expand on this th¢me in the coming year by dev¢lopin8 a ran8¢ of ¢ttatlve a¢iivities with Arts and Envlronmentsl Ae¢lvltles Our 'Skip Don't Tip, proj¢ct fimded by the National Lottery Community Fund. cOntind throughout April - June providin8 monthly amnesty skips for the public. The skips were very well used with around 30 households in8 the skips each month. Many items were res¢LKd from the tip includin8 fumiture, home fumi$hings, books, toys and clothin8. W¢ 8r¢ s¢¢king new fundin8 to conlinue the proj¢ ncxt year. SpeelAI Events Wc held our ¢ustornary E&8ter Lun¢h in April which this year included an Easler Bonnet ¢OrnWition. Thls w very popular with thc community and many ulthe ladi¢s in our Craft Cl3 made Easter bonnels. Thc Coronation of th¢ Kin8 in May 2023 was occuion to bc ¢clebrntcd and Costhr pri)vidcd a party for (h¢ community with food and 8am¢y. It w&% a great success 8nd attended by many local pcoplc. Th¢ Costhr annual open day look pl¢ again in S¢ptember and wa5 a thance for us lo slW¢d8¢ the work we do throu8lK)th the year. Our Craft class pul on slalls of th¢ir work which they sold on behalf of our foodbank. Also in S¢plembcr we ran a Ma¢Mi11on wtree morning a3 Pg11 ofthc 'World's Lar8¢31 ColT¢¢ Mornin8, appul. We wntinue 10 8UPPOrt this ev¢nt every year in order to rai8e funds for thi5 worthy cause. Ow volunteers made a varicty of iasty cakcs for the occasion. Christms Thls year we introdur¢d a new Clvislmas ¢v¢nt for children in our community. We set up a Santa's ¢3rotto in our r¢¢¢ntly refurbished project room at th¢ Thr¢epenny Bit. We provided a 8itl, games and refreshments for over 40 local children WIK) ¢ach got a specia] visit to Santa and a photo. This was provided free of chaTge lo help families who catmol afford the prices of th¢ comrnercial Santa's grottos.
Costar Parlnershlp Trustees, Report DuTin8 the f1 week of De(mbcr we ran our annual Community Sonta Slei8h Ride which now become muth loved ttadilion in our cAymmunity. Santa visited many strccts in Cwmbran over a period of 4 eYenin8S. This year we 88ain coll¢¢t¢d food donati0Th8 from the c4)mmunity in ordcr to iK)ost r Christm45 hamper appeal. We provided over 100 food parcels 8nd special Christm&8 hampcrs to thos¢ in nged. We also 8Ave out sel¢dion boxes and adivity packs to local ¢hildren. M#t•l Heatth Fint Aid Tr•lnlnz Costar's man4er und¢rtook trainin8 to deliver cow5¢5 on Mentsl Health First Aid. whieh aims tcach 0p]e how lo spot when a person is suff¢riTbg with mental health i55ues Bnd to PTovide 'first 8id'. The trAinin8 was paid for by Torfacn County Borough Council and enabled Costar to d¢liver this Ining to over 20 local peopl¢. 75th AnDfv•mry ofCwmbrn N•w Tow 20241$ the 75th AMivers8ry of our lown. Costar has eft su¢¢¢S$fi in an applicalioD to the Herita8e Lottery to cr¢8le an exhibition and a book for thi5 event, which 1oke8 plac¢ later this y¢aT. We will be 8athering stories and photographs from the local community and working in partnership with other organisalions to make ihi¥ a Significant Community event. Future Plilli Costar is alway$ lookin8 for ways to Impff)v¢ ond expand on our service and to reach &8 mqny peopl¢ possible. W¢ look fonvard to continuing to support out local rommunily and make new conncctions in th¢ ¢omin8 ycar. R¢fr•0 and AdmiDiitr4llv¢ D¢tall$ Charity Rc8i8tralion Number.. Company Registr10 Number: 1101631 047410680 The Charity is incoor&I¢d in WaJ¢8. Thrcq)cnny Bit Community Centre Dcerbrook Grccnrneadow CwrnE*8n Torf&en NP44 4SX Registered Officc: Ind¢p¢ndeTrt Examincr: HSJ Accountants Lid Severn How¢ Hazcll Drive Newport South Wal NPIO 8FY Pa8e 6
Costar Partnersblp Trustees, Report TrnJt•e8 And oificen The ¢TUSl¢¢S ond officers serving during ihe year and sIe the year ¢nd w¢re as follows: Tru81eeJ: J S Davenne T A Matthews AJOwen P Sealjoume R A Seabournc C Willis L Lloyd-Tolman (appointed 10 Junc 2024) Secrctary: L H Howl¢J Struiture? iov¢ni•iic¢ And mAnU¢m¢llt Nrtthre ofgovernlnz The charityls 8overn¢d by th¢ Memoradum and Articles of the company da¢ed 13th JAnuary 2004. Recrnlirnenl Aftdappolnlmenl oJlThsle Potential n¢w tru5t¢es ar¢ asked lo fill in an application fonn explainin8 why thcy wish to be¢omc a trustc¢. 8ivin8 ddails of the contribuiion that they will make to Ihc b08rd of trustees. Two references we ked for. The application is l(K)k¢d ai by the board of thiilees and a decision aboui th¢ pIntMent of the applicant will be made ai a Truslee meeli IndM¢ilon qndtralnlR¥ oftrMsleeJ The Costar Partnerthip works closely with Torfaen Volwitary Allianc4.an or8anisationlthit'provides trairtin8 for charilies and the role 8nd ruFK)nsibilities of being a tru5t¢e. Arranxenwntsforseirfn8 key min48emenlpersonnel remuneft7lion The trustees in dISsion with th¢ man98¢rs 5¢t lh¢ remuneralion. Orzantsatioft•l slrnethre The Cosiar Partnership is run by the Board of Trustees. The Charity is managed by the Ccntrc Manager. There are 8130 variou5 other role5 within The Costar Partnership cornprising: Assistant Mart4ger Project Worker- Food Share and Re¢yclin8 Project W0er- ReP4ini and Cat¢rin8 Thc ch4rity Also uses volunteers to help achieve its charitablc objcctiv¢s. P48e 7
Costsr Partnershlp Trnstees, Report Stat•m•nt olTr¥steu' R¢spollslb116ileg The trustees (who we alxo the directors of Costsr Partnership for the purposes of company law) 8re responsible for prepaTill8 the tru51tt5' report and the financial statements in accordance with th¢ Unit¢d Kingthm Accounting Siandard5 (Unita Kin8dom Generally Accepted Accounting Practic¢) and applicable law and r¢gulations. Comp8ny law requircs thc tru31¢¢s to ppare financithl statements for ¢h financial year. Undcr company law thc tru8te¢s mwt not approve the finan¢ial 5taternents unless they are sati8fied thai they 8lve a tnK and fair view of the ststc of afhir8 of th¢ charitable company and of its inwmin8 Tesources and applicati4)n of resourcc4 including ils incomc aThJ expenditu for thot period. In pr¢pfirin8 th¢s¢ fmanc1 staiements. the trustees ar¢ required to: Sele suithblc ac¢ounling poli¢i¢8 and apply them rAinsisteThlty; ob8erv¢ the methods and principles in th¢ Charities SORP; make judgements snd estimaies arc rcuonable and prud¢ni: State whether Applicable UK Accountin8 StsndDrd3 hav¢ been followe4 subjc¢t mat¢rial depArture8 diJcloJed and ¢xpl4ind in the fmancifil statcmcnts: and prepare the finonciol statements on thc 80in8 concern b13 unless it is inappropri4t¢ lo presume that the haritsblc Company will continue in tKbsincss. Th¢ trustees or¢ rP)nSIble for ke¢pin8 4d¢quAle accounting record8 8r¢ JulTicient to show aTrJ cxplain the ¢lwitobl¢ wmpony's Iransactions and di3c105c with r¢450nable accurw al Any time the fin&ncial position orth¢ ch8rltgble company enabl¢ them lo enJure that the finanGi41 statements wmply with the Companies Acl 2006. They Are 90 rcsw)ngibl¢ for s4feguaTdin8 th¢ assets of the chaTi¢abl¢ wmpany And hence for tskin8 reasonable stcpi for the prcvenlion and dCl10n of fraud and other iffegularities. The annual r¢port was approved by the trusi¢e8 of the charity on 6 Seplcmber 2024 and signed on ils bchnlf by: P Seabourne Tnlee Page 8
Costar Partllershlp ludependent ExamlDer's Report to the Irustees of CoStNJr Partnershlp ("tbe CompAlly") I report lo ihe charity Inle¢S on my exaTnination of the a¢Ullts ofihe Company for the yev ended J l March 2024, ReJpon$lbllltles And balh of report As thc charity's trUSt¢¢s of the Company (and also ils dircclors for the purFx)s¢s of CoMpY law) you are responsible for the preparation of th¢ a¢U in a¢¢ord8n¢¢ with the requirements of the Companies Art 2006 ('the 2006 Act,). Having Satisfied myself that the accounts of Costsr Partnership are not required to be audited under Part 16 of th¢ 2006 A¢¢ ond are eligiblc for independent examination. I report in respect of my examination of your harity's aClts c8rried out under section 145 of the Chwities Act 2011 ('the 2011 A¢t'). In cexrying out my ¢x8mination I have followed ihc Dire¢lion8 given by the Clwity Cornmission undcr stlOn 145(5)(b) of th¢ 2011 Act. Ddependtnt oxamloer's stAtement I hfive completed my examinall(m. I confimi no matters have come to my attention in rA)nnEGlion with the examinaliun givin8 me cause to believe: accounting r¢wrdB were not kept in respcct of Costsr Patthership required by section 386 of thr 2006 2. the a¢¢ounts do nol a¢¢ord with those records; or 3, th¢ accounts do nol comply with thc ae¢ounting requlr¢ments of sectlon 396 of the 2006 Act other than any requiremeni Ih8t th¢ a¢¢ounts give a 'tNe and ftiir view, which is not a matter nsId¢rtd part of an independenl exominalion. or 4. Ihc accounts hv4V¢ not been pr¢paTed in o¢cordan¢¢ with the methods aThJ principles of the Statemenl of Recommcn&d Practice for &Cl11n8 and rew)rting by ChItIeS [applicable lo charilies preparing their accounts in accordance wilh thc Financial R¢porlin8 Siandard appli¢ibl¢ in th¢ UK and Republic of Ireland (bRS 102)]. I have no concernJ and have rne Across no oih¢r matters in ronneclion with the examination lo which attention should b¢ drawn in this report in order lo enable a PTopeT understsndin8 of the ac<ounls kn be reached. Andrew Hill FCCA ACA DChA BFP Sevcm House Hazell Drive Newport South Wales NPIO 8FY P•8¢ 9
Costsr Partnership StatemeDI of Financlal A¢llvltles for tbe Year Ended 31 March 2024 (In¢luding Income and Eipenditure AccouDt and Statemellt of Total Reeoglltsed Galns and Los$e$) Uorestricted funds RerICted 2024 Note lth¢•mt ••d EJbdowm¢Dl$ frorn: Dona(iort8 and1¢8acies Inveslment incom¢ Other inwme 115,844 170 93.3S2 209,196 170 Total in¢ome 120,537 213 889 ExDdIr¢ OD: Charitoble activities 112,174 97,552 209.726 Total expenditure N¢1 in¢omel(cxp¢nditw¢) Transfers between fithds 112,174 209.726 8,363 25.161 (4.200) 25.161 4,163 N¢t movcmcnt in fund8 33,524 (29,361) 4,163 R•¢on¢lll*tlm of tsnd$ Total fLud8 broutht forward 42,490 76,020 Umr¢¥trkt¢d dj Tothl fiinds carried fotward Is 36,769 R•Jtri¢ted fiIDds 112.789 Total 2023 Not• ID¢om• ind Endowmettts from: Donations and le8aci¢s lThv¢slmcnl income Other inwme 96,217 25.630 427 121,847 427 7,589 To¢al income 103.806 26,057 129,863 Charitable Xiiviliej 107 718 57,188 164.906 Totsl ¢xFnditure Net expendilur¢ Net movemen( in funds 107,718 57,188 164.906 3,912 31,131 (3,912) (31.131) (35,043) Retontlllailon olfundg Total tunds brought forward 46.410 97.261 143 671 15 42,498 66,130 108.628 All of the chwity's activltles derivc from conlinuing operations during the above two periods. The funds breakdown for 2023 is slK¥wn in note 15. The notes on pagtt 1210 23 fomi an integral part of these fman¢ial 5tatcments. Page 10
Costar Partnershlp (ReglstratloD number: 04740680) Balance Sheet as Al JI Mareb 2024 2024 2023 Note Fixed ¥J¢¢$ Tan8ible assets 12 41,462 38.495 Current •g3¢ts Debtors Cosh at bank and in hand 13 2.880 78,660 81.540 3,315 71.194 74.509 CredltOTS: Amounti fllltht dw¢ wlthltt on• ye•r 14 10,213 4,376) Ntt cnrr•nt gM•ts 71,327 70,133 Net aJx¢i 112789 108,628 FMlld8 of tbe ¢h•rity: Re5trlcted income rtAnd¥ R¢strl¢ted funds 36,769 66,130 Uor¢•trl¢l*d ID¢om¢ fvDdi Unre5tr1cd funds 76,020 112,789 Tol•l thndl 15 108,628 For the financial ycar ending 31 March 2024 the charity w&s entiilcd to cxemptioTh from audii under se¢lion 477 of the Companles Act 2006 relatin8 lo small companies. Director8, reSnSibIlIties. Th¢ mcmbers havc not required the charity lo obtain an audi¢ of i(8 a¢¢ounts for th¢ year In queslion in acLx)rdance with section 476; 8nd The direcr$ acknowlcdgc thcir rcJpon8ibiliti¢J for complyin8 with th¢ requirements of th¢ A¢t with respect lo accounting records and the preparation of accounts. The fina1&i $1otemen15 on pages 10 to 23 w¢Y¢ opproved by the Inees, and authorised for isyue on 6 Seoember 2024 and Signed on their bel1( by: P Seaboume TNsl¢¢ The noics on pages 12 to 23 forni an inlcgral part of thcsc financial statcmcnt5. Pagell
Ctar Partnership Notes to Ibe FIDaneial Statem¢nts for the Year Ended 31 Mareb 2024 I ChiAty $tlll The charity is limited by guarantee, AncA>rporated sn Wales, and rA)ns4u¢ntly does not have shaTe ¢8Pital. Exh of the trustees Is liable w contrilxrt¢ an 8mowit not exceeding £1 towards the se¢S of the charity in th¢ event of liquidation. The address of ils regisiered olyice is: Threepenny Bit Community Centre Deerbrook Cwrnbnn Torfaen NP44 4SX These Ilnan¢ial stateme1 were authoris¢d for Issue by th¢ InLglee8 on 6 Scptcmbcr 2024. 2 A¢cotADtlot poll¢l SummAry of iitalfit4th1 ie¢ouDIIDt polld¢s ttd k¢y #¢¢001)•1 •g¢lrnal¢s The principal accountin8 p)li¢ies applied in the preparntion of these flnonciAI swt¢mcnts are let out below. These poli¢i¢s hav¢ consistently appli¢d to all the yearn prcscntcd, unless otherwis¢ slal&l. St•teMenl ol¢omplln¢• Th¢ fina11 $eMentS have been prcpared in a¢¢oTdan¢¢ with Accountin8 and R¢w)rtin8 by Charitics: Swement of R¢commended Prlice (applicablc to ¢hariti¢s rrtp8rin8 their accounts in ardance with the Financial Reporting Stsndard applicèble in the UK w)d Republi¢ of Ireland (FRS 102)) (issued in October 2019) - (Chorities SORP (FRS 102)). thc Finan¢i41 R¢portin8 Stsndard appli¢abl¢ in th¢ UK and Rewblic of Ir¢land (FRS 102) and th¢ CornFMnics Aci 2006. BaJLq of pr•p•rAtIoD Costar Partnership m¢¢ts the derltion of a publi¢ benefit entity uTrJer FRS 102. knets al liabilities arc initially recoEni8ed al historical cost or transaclion volue unless othenvise stated in th¢ rcl¢van¢ a¢wunting poli¢y notes. GolDt ¢•ll¢tnb The trustees consider that th¢r¢ ore no material uncertainties about the ChIty'S ability to continue as A going concern nor any si8nificani areas of erLlnty affect ihe carrying value olassets held by the charity. Ex¢mpil•n from pr•prlni * ¢•th flow JttenMtht The ehariry Opted lo carly adopt Bull¢lin I published on 2 February 2016 ond have therefore included a Ikm ststemcnl in thes¢ fin8n¢io1 $talemcn latonw Aud e•dowmefjts All income is TO815¢d once the charity ha5 ¢ntiilement to the incomc, it is probable that th¢ inrne will be received and the amount of the income re¢eivabl¢ ¢8n be mca8UTed reliably. Page 12
Costar Partnership Notes to tbe Financial Stslements for ¢be Year Ended 31 March 2024 D1103 andlegacles Donations are recognised when th¢ tharity hos b¢¢n notified in Lting of both the amounl and settlement date. In the cY¢nl tha¢ a donation is subject to conditions th41 require 8 level of perforniance by the charity before th¢ ¢harity is ¢ntitlcd to thc fund3, th¢ inrA)m¢ is d¢f¢rred and not recogni5 until ¢ith¢r those nditionS are fully met, or the fulfi]ment of thosc condilions is wholly within the control of the charity Ld il is probable that th¢s¢ conditions will be fulfilled in the reporting period. Grants recelvable Grants are ree(Jgniscd when th¢ ehariry has an eniitlemenl to the fimds and any conditions linked to the 8Tants have beert met. Wherc perforniancc conditions are attgth¢d lo the grdni and are yel to be mel, the incorne iy reco8niscd as a liabiltty and included on th¢ balance $heel aJ de[¢ed income lo b¢ r¢lcasd. Delerredln¢om¢ Deferred income rcprcsents amounts r¢¢¢iv¢d for fvture periods and is released lo in¢omin8 resources in the pcriod for whi¢h, it has been received. Such inLxbme is only d¢ferred when., - The donor specifies that th¢ grant or donalion mus¢ only b¢ w¢d in fvtw¢ &ccountiftg periods. or . The donoT has imposd Conditions whith musi be met belor¢ the Charity has unnditiOnal ¢rttitl¢ment. Inves1nl(Oll Dividcnds are recoEnised on¢¢ lh¢ dividend has been declared and notifieiOn has been ttttived of the dlvldend du¢. Expendlrn All exp¢nd¥ture 1$ reco13 oncc therc is a le8al or constnKlive obli8alion lo that expcnditur¢, it ig probabl¢ settlement is required and the amount can be measured reliably. All costs are DllocBted io the applicable ¢xpenditure het4Jing that aweg)te similar costs to that CAtegory. Where costs cannoi bc directly ottributed particul headin8s th¢y have been all01¢d on a basis consi31enl with the use of resources, with cenlrnl staff costs allocated on the basis of lim¢ 3p¢nl, and depreciation chaT8es Allocated on the portion of the w5et's use. Other Support ¢ost$ are allocated based on the Spread of staiTcosts. Ch4rl¢obl¢ 4¢ilvlrfes Charitsble ¢xp¢ndilure MPriSes those costs incurred by the charity in the delivery of ils aclivilies and services for ils bcncficiarie8. li includ¢s boih cosls that can be allocaled directly lo su¢h Aclivili¢s gnd those costs of lln indir¢¢l na¢ur¢ n¢¢¢ss8ry lo support them. Support eo$ts Support rStS include central ftmctions and hAve been Allocfited to a¢iivity ¢osI ¢a¢¢gories on 8 b&8is consistent with the of ruources. for ex8mpl4 allocating property C08ts by floor arcas. or per ¢apiW siaff ¢A)sls by the tirn¢ sp¢nl and other costs by their wa8¢. Govern4n¢¢ cojts These include the cosis attributable to the charity's cornplianc¢ with conslilulion81 end statutory requiiemenl4 includin8 audil, 8lralcgi¢ manag¢meni IntteS.8 meelings and reirnbursed expense5. Page 13
Costar Partnership Notes to the Finanelal Slalements for the Year EDded 31 Mah 2024 GovernmeDt graots Gov¢rnm¢nt grants are recognised based on the a¢¢nl model and are meL8ur¢d ai the fair Val of the 3¢1 received or (cl¥able. Grants are cl&8sified as rclaling cithcr to revenu¢ or to assets. Grants rela¢in8 to r¢v¢nue 4r¢ recognised in income over the Peri in which the rclatcd costs arc rOgnISed. GTants r¢lating to assels a reco8nised over the expected usefijl life of the asset. Where part of Pd Wt rel1ng to an asset 1$ def¢rr¢d, il is Tecognised as defcrrd income. Tautlo Th¢ charity is Co$10er£d to pass the tests set out in Parwaph I Schedule 6 of the Finanrx Act 2010 and therefore it meets the definition of 8 ch8riloblc company for UK ¢oryJoration t&x purposeg. A¢cordin8ly. the harity is potentially cxempt from taxation in respect of income or pital gains r¢G¢ived within cate8Orie5 vered by Chapier 3 PArt I l of the Corporation A¢t 2010 or Seciion 256 of the Taxation of chargeIe G8in8 A¢t 1992. kn the extent thai such income or gains ar¢ applied ¢x¢lusiv¢ly to charilablc purposes. TaDilbl• Ji¢ts Individu fix¢d ass¢ts ¢oslin8 £500.00 or MO are initially recorded at Lxydt. D•prttl•tl•ll illd m•rtlJ•doD Deprc¢iation 13 provi&d on tangible fixed assets so a% to write off th¢ or va]ualion, less w ¢stlmat¢d residual value, over their expected leffi1 economic life as follows: Asset rl$i Lechold improvements Molor vehi¢l¢s Fixturtt and fittings Deprttl•ll•• melb•d Dd rate l(P/o reducing ba1ce 25% r¢ducing Imlance 25% reducin8 balance Trade debtors Trade debtors orc amou$ due from ¢ustomers for nw¢handis¢ sold or $erii¢es perfornied in the ordinary ourse of business. Trade debtors are re0)11 initially Al the transaclion PTi¢e. llw are subsequently mewur¢d •1 amortised cost uxing the efflive int¢r¢st mdho4 legs provision for impairmcnl. A provision for the impairnient of trad¢ d¢btor3 1$ estsblished WIM thcre is objIlve evidence Ihat th¢ ¢lwity will not bc able 10 (x>ll¢rt all allwunts due according to the original ternis of the re7vbIes. C•sh •nd equlv*leats Cwh and cuh equivalentg comprisc cash on hand and ¢all deposlts, and other short-tern) highly liquid invcstments that are readily convcrtiblc to a ktb)wn amount of and are subject lo an inJi8nifi¢anl risk of chan8e in valuc. Page 14
Costar Partnershfip Notes to the Flnanclal Statements for the Year Ended 31 March 2024 Tr•d• ¢redltors Trade creditors are obligations lo pay for goods OT 5¢rYic¢s that hav¢ b¢¢n a¢quired in the ordinary course of business from suppliers. AcLX)unts payable are cl&8sified as curreni liabililies if th¢ tharity docs nol hav¢ an unconditional right, al th¢ end of the rcportin8 period, to def¢r settl¢m¢nl of the creditor foT at least twelve months after the reporting dalc. If the is unwnditional righi to defer settlement for at leasl twelve months after the reporting dal¢, they are presented as non-curr¢nt liabililies. Trade cr¢ditors ar¢ recognised initially &t the tran3a¢lion pri¢e and subsequenily measured al amortised Cost using the ¢tfeclive intercsl method. Page 15
Costar Partnershlp Notes lo the FIDancial Ststemellts for Ibe YeAr Ended 31 March 21n4 Fund slr¥¢ttAre UnTestri¢ted income fund5 are 8enernl fimds thal 8re available for use ai the tswstees dISe¢lon in fiffiheTance of the objeclive8 of th¢ Chlty. tksignated are unre3trictgd funds 8cI asi(k foT specific purposes ai the discrclion of the In¢¢¢$. R¢$trictcd income fimds gr¢ those domled for use in a PArticulw orea or for spe¢ifi¢ PWkX)ses, the use of which 1$ r¢strict¢d lo that area or purp) PMsioDJ o¢b¢r po81 reflremeAt •blliatlo•$ Th¢ dwity operntes a defmcd contrilwlion pcnJion s¢h¢m¢ which Is a pension plan under which red contributions ar¢ paid into a pe810n fijnd And thc charity ha8 no l¢gal or ¢on5tructive obligalion to Y further ntrilMtions ¢v¢n if the fund do¢$ not hold sutTicient assets to pay all employees the bM¢fils relating to ¢mployc¢ serylce in the cwrent and prlor periods. Contribulions to defined contribution plan$ 8re recoliS¢d in thc Staiemenl of Finllncial Aclivilies when they are d. If ¢ontrIblOn PAyments excccd the contribution du¢ for the excus is rec08n1s a prepayment. J IDcom¢ fr•m don•tloDI IDd1¢8#¢i Unrestrided fmods G¢Deral R•Jtri¢ted TotAI 2024 Total 2023 Donalions and legacies; Donaiions from individuals OrAnts. including ¢apiial 8rgnts; Cffjvemment grants Incom¢ and donations from projects 3,171 3,171 1,158 30,891 28,322 59,213 30.889 81,782 115,844 65,030 89.81N) 93.352 121.847 4 Inv¢Jtm•nt In¢orn• Uwr•Jtrlet•d Total 2014 Total 2023 Gea¢NI Interest rtteivable ond similar income. Interest receivable on b2nk deposits 170 170 427 S Oth*r income UDr¢rtrleted fund$ GeJ¢rAI T•t#l 2024 TotAI 2023 Renial income 4,523 4.523 7.589 Page 16
CoStPdr Partner8hAp Notes to the Financial Stalements for the Year Ended 31 MAreh 2024 6 Expendit¥r¢ on ¢bArlt•ble Aetlvltlès Unrestrlcted Totml 2024 Total 2023 G¢Dernl Re5tri¢ted Note Dir¢ct project expenditure Depreciation, amortisation and oihcr similar ¢osis Staff wxls Allo¢at¢d support ¢o$ts Governance costs 10,476 88.853 99,329 71,266 6.216 95,482 6,216 100,059 5,571 84,302 4,577 1.461 1,461 .599 2,168 164,906 112,174 209,726 Pag¢17
Costar Partnership Notes to the FIDan¢lal Stat¢m¢nts for the Year Ended 31 March 2024 7 ADlysh Of g•v•rnA•c¢ support costs Cb4rftblt tlivi¢lu •xpedl¢ur¢ Restritted (unds To¢AI 1024 2023 Bskn Of all•catio Pa011 Oth¢r support costs 1,215 246 1.215 246 600 999 1,461 1.461 1,599 Ref•r¢th¢¢ Method of illornllo lo of rthi 8llo¢a¢¢d Governi¢• ¢fj•ts Restrltt Ddi Total 2024 To¢•1 2013 Independ¢nt examiner f¢es Ex8mination of the financial stat¢m¢nts 2,661 2.661 2.168 8 Net loeomlnwoutioing r#Joure•• N¢t inc4MlbnW(ouwoing) r¢x+urce3 for thc ye8x in¢lud¢: 2024 21)2J Dq)r¢cialion of fixed ass¢ls 9 Trngttty rMun•r•tloll and expem No trusices. nor any persons connected with them, havc received thy r¢muneration from the thority during the No trustees have r¢c¢ived any reimburs cxpcA8e8 or any other b¢n¢fits from th¢ charity durin8 the yw. Page 18
Costar Partnership Notes lo the Finan¢iAI Slatements for Ihe Year Ended 31 MAreb 2024 10 Staff togtj The ag8Ba* pwloll ¢osty were as follows: 2024 2023 Staff ¢osts durlDi the year were: Wag¢s and shlari¢s Soci81 security S(S P¢nyion costs Other slatTcosts 95.482 81,346 352 2,107 497 2,337 ,059 100,059 84,302 The monthly average number of persons (inrluding wiior rnana8emeni I leaderghip leam) employ by the ¢harity durin8 the y¢af ¢xpressed as 11 time equivalents wa5 as follows: 2024 2023 Number of Employees No employee received emoluments of more ihan £60,000 durin8 the yw. The chority is a rcgislered clwity and is ther¢for¢ ¢x¢mpt from 1oxa¢ion. Page 19
Costsr Partnership Notes to tbe Flnanclal Slatements for the Year EDded 31 Mareb 2024 12 Tilglbk flied Assets Land and bulMIDIS Furnlthr• and equlpmelt Motor vthkl T•tal Cwt Al l April 2023 Additions 78,186 29,651 9.183 109.437 9.183 At 31 March 2024 78.186 38.834 1.600 118,620 Depre¢l•llon At l April 2023 Clwge for the ycar At 31 Marth 2024 46,822 3,137 22,520 1.600 70,942 6,216 25.599 1,600 N•t book v•lue At 31 March 2024 13,235 41,462 At 31 March 2023 31.364 7,131 38,495 Inclu¢kd within the [1 Ik Val of land and buildin8s obov¢ is £Nil (2023 - £Nil) in r¢spect of freehold14ftd 8nd buildings and £28227 {2023 - £31,364) in Kipecl of leaseholds. 13 Dtbtorl 2024 2023 Trade deblors Prepwments Other debiors loo 1.938 842 255 2,218 2.880 14 Credlton: Imouots falllDg due wlthln •Me year 2024 2023 Trad¢ Credi[8 Other thvltion and soci41 security Accruals Dcferred income 442 2,012 689 1,675 2,771 7.OiX) 10.213 Page 20
CoSt8r Partllersbip Notes lo the FIDAn¢lal StYdtemeDts for the Year Ended 31 March 2024 15 Funds Balmllce at 31 March 2024 Baian¢e ai I April 2023 ID¢4JmiDE r¢sour¢u ReJourceJ ¢xpend¢d TrAnsferJ ULrtrIcted Generql Genernl Unrc3triclcd Fw 10,080 88.146 (51.520) 7.303 54.009 Desl8Nated D¢si8ll8ted Buildings Fund Key M8n88em¢nt Salories Slaff Savings 27,613 4,242 561 (6,216) (52,991) 1.447 21,397 30,891 17.858 614 32,416 32.391 60,654 17.858 22.011 T•t*l uthr¢$trk¢ed fvnda 42,496 120,537 112,174 76.020 Rutrleted fundi Small Grants Fund Flenry Smith Lottery Community Moondance Fund Food4Growth Opening Doors Period Dignity Grant Warn] Hubs Grani Cornmwiity Resilicnce Fund Herit88¢ IA)rtery Fund National Grid 34,798 3,175 3,972 20,409 192 1.344 1.000 .240 6,130 30,400 10,000 (9,959) (36,342) (7,560) {10,155) (13,SIKI) (26,798) 2,767 4,171 6,412 10,254 1,414 14,722 (lJ44) 1,0 (1,648) (13,406) 408 (194) 13,600 10,(K)o 10,cK)o 4,982 Total restrleted fundj 66,130 25,161 36,769 Tot41 funds 108 626 213,889 209,726 112,789 P2ge21
Costar Partnership Notes to the Flnan¢lal Sthlements for Ihe Year Ended 31 March 2024 BalAQ¢¢ #t 31 March 2023 BAln¢t t J Aprll 2022 Intoming resour¢•$ Res•ur¢es eipeDd*d TrAwfeYs Unregtrkt¢d thDds General General Unrestrict¢d Fund 11,905 52,595 {54,420) 10,080 D18n4t¢d Buildin83 Fund Salary of Assistant Manager Key Mwem¢Dt Salariej Stsff SaYin8S 33.184 1.081 (5,571) (7,278) (40.451) 27,613 5,44S 45,445 321 752 1752) 4.242 561 240 34,505 51211 53,31)0 TotAI unr•Jtrkl¢d fundj 103 806 107,720 R¢Jtrkt•d Smo11 Grants Fund Henry Smith Lottery Community MoondanL% Fund Food4Growth Op¢rtiftg Doors Period Dignity Grani Warn] Hubs Grant 34,798 15,593 10.870 36,1)00 34,798 3,175 3,972 20.409 192 1.344 1,0 1.240 15,200 250 (27,618) (7,148) (15.591) (6,006) (823) 6.198 2,169 1.000 1.240 To¢41 restrkt•d ftsndi 97,261 26,057 66,130 164,908 108 626 The specific purpos¢8 for which the fid8 are tt) be Appli¢d are follows: Dgsi8nated wwestrictcd r¢ll¢¢t buildings and other assets which do not fonn part of the chwity's wider frec reserves. Also included in designai•d ore reserves 3pecifically 4llo¢ated by the Trustees to the on80in8 mana8¢m¢nl of th¢ c¢ntr¢. Rcstricl¢d 8raTht funds represent batances held in relation to rcstricted incoJn¢ unsp¢nt a5 the ycar ¥ryKI. Transfers between testrieted funds represent balan¢es held in r¢lation to specific proje¢13 OS at the year end. Page 22
Costar Partnersbip Notes to the Flnanclal Stalements for the Year Ended 31 MAreb 2024 16 AnAtysb of oet ut¢i b¢lween thnds Total funds #l 31 M•T¢h 2024 Uttre$trl¢t¢d fuDds Gener1 D¢sizD¢ed Rejtrkted fund$ Tangibl¢ fix¢d asKI$ Cun¢nt asjets Curreni li8biliti¢s 20.065 37.157 3,213 21.397 614 41,462 74,540 3.213 36,769 Total net 4S5¢t¥ 54.009 22.011 112.789 Total Thbnds At 31 M•r¢h 2023 UDrestrlct•d funds G¢oerl Restricled fuods Ton8iblc fixed as%1# Current a5ts Current liabililics 10,882 27.613 4.803 38.495 74,509 4,376 69,706 3.374 802 Totsl n¢1 8sscts 10.080 32,416 66,132 108.628 Page 23