2024-12-31-accounts

Canolfan Ceiriog Centre Cyf Unaudited Financial Statements For the year ended 31 December 2024 Company number 4984871 Charity number 1103898 Company informa,on Company number 4984871 Charity number 1103898 Registered office Canolfan Ceiriog Centre New Road Glyn Ceiriog Llangollen LL20 7HE Website www.canolfanceiriog.org Directors Mr. T. Bates Ms. S. Mumby Mr. P. Lloyd Mrs S. Wallace Mr. P. Fletcher Mr. G. Young Ms. J. Robinson Mr. D. Mills Company secretary Ms. J. Robinson Centre Manager Mrs. E. Mills As at 31/12/24 Contents Pages 4 & 5 Directors’ Report Page 6 Income and Expenditure Statement Page 7 Statement of Financial PosiZon Pages 8 - 10 Notes to the Financial Statements Directors' Report The Directors present their report with the financial statements for the company for the year ended 31 December 2024 Principal acZvity and review The company's main acZvity is the operaZon of a community centre - the Canolfan Ceiriog Centre. Financial review The accounts show a deficit in the year of £11,208. (2023 - Deficit £8,558). Charitable objects To promote for the benefit of the inhabitants of the community councils of Llansandfraid Glyn Ceiriog, Ceiriog Uchaf and Glyntrain and the surrounding area the provision of faciliZes for recreaZon or other leisure Zme occupaZon of individuals who have such a need of such faciliZes by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances or for the public at large in the interest of social welfare and with the object of improving the condiZon of life of the said inhabitants. Achievements and performance 2024 has been another difficult year for Canolfan Ceiriog Centre resulZng in a trading deficit of £11,208 for the year. This was due to some unexpected maintenance bills and a reducZon in usage of the centre as the knock on effect of COVID and economic downturn has reduced usage and local residents’ ability to support fundraising events. The reducZon of wellbeing grants from the Local Authority has also had an adverse effect on finances. A trading deficit of £11,208 has been recorded for the year 2024. Structure, governance and management The governing instruments of the company are its Memorandum and ArZcles of AssociaZon. The company was incorporated on 4th December 2003 and is limited by guarantee. The company has been registered as a charity since 24th May 2004 ResponsibiliZes of the board of directors/ trustees The Board is responsible for preparing the Financial Statements in accordance with applicable law and regulaZons. The Board is required to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted AccounZng PracZce (United Kingdom AccounZng Standards and applicable law). The financial statements are required by law to give a true and fair view of the state of affairs of the company and of its incoming resources and applicaZon of resources of the company for that period. In preparing these financial statements, the trustees are required to: • select suitable accounZng policies and apply them consistently; • make judgements and esZmates that are reasonable and prudent; • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will conZnue in business. • Observe the methods and principles in the Charity SORP. The Board is required by law to act in accordance with the consZtuZon within the framework of charity law. The Board is responsible for keeping proper accounZng records that disclose with reasonable accuracy at any Zme the financial posiZon of the company and enable them to ensure that the financial statements comply with the Companies Act 2006 and the ChariZes Act 2011. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevenZon and detecZon of fraud and other irregulariZes. The report has been prepared in accordance with the special provisions of Part 15 of the Companies Act. This report was approved by the Board on ................................ and signed on its behalf by:…………………….................................. .............................................. Company Secretary Income and Expenditure Statement 31-Dec-24 31-Dec-23 Incomes Exercise/Sports Clubs 4370 4,311 Non Sports SocieZes 984 1,538 Young People 1,897 1,689 Private Room Hire 4,167 4,315 Public Room Hire 513 0 Cafe/Bar 14,229 16,566 Tennis Courts 0 0 Events 6,776 15,335 Grants and DonaZons (Core) 6,762 5,599 Building Admin and Grounds 1,000 2,144 Total Income 40,697 51,497 Expenditures Exercise/Sports Clubs 0 18 Non Sports SocieZes 0 0 Young People 0 0 Private Room Hire 0 0 Public Room Hire 0 0 Cafe/Bar 8,308 12,261 Tennis Courts 0 0 Events 3,628 5,256 Grants and DonaZons (Core) 1,090 629 Building Admin and Grounds 19,629 24,451 Staff and Employement 19,249 17,440 Total Expense 51,905 60,055 Surplus/Deficit -11,208 -8,558 The notes on Pages 8 - 10 form an integral part of these accounts. Statement of Financial Posi,on 31-Dec-24 31-Dec-23 £ £ Fixed assets (note 4) 697,594 700,947 Current assets Debtors (note 5) 1,293 2,833 Current bank balance 1,599 4,733 Ring Fence account bank balance 0 0 Reserve Account 15,302 22,419 Peoy cash 940 1,155 Inventories (Bar Stock) 1,136 1,482 Current liabiliZes Creditors (note 6) 0 -1,488 Net assets 717,864 732,081 Represented by; Reserves (note 7) 717,864 732,081 For the year ended 31 December 2024 the company was enZtled to exempZon from audit under secZon 477 of the Companies Act 2006 relaZng to small companies. Directors’ responsibiliZes: * the members have not required the company to obtain an audit of its accounts for the year in quesZon in accordance with secZon 476, * the directors acknowledge their responsibiliZes for complying with the requirements of the Act with respect to accounZng records and the preparaZon of accounts * these accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime. These financial statements have been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2006 and with the Financial ReporZng Standard for Smaller EnZZes (effecZve April 2008) The financial statements were approved by the Board of Directors/ Trustees and signed on its behalf by:…………………………...……………..................... .... . ............................................. Mr. T.Bates Chair of Trustees Company registraZon number 4984871 The notes on Pages 8 - 10 form an integral part of these accounts. Notes to the financial statements 1 AccounZng Policies Accoun&ng conven&on These financial statements are prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS102 secZon 1A - small enZZes. The Statement of Recommended PracZce (SORP) 'AccounZng and ReporZng by ChariZes' is also adopted. Incoming resources and funds Income is recognised in the period in which Canolfan Ceiriog Cyf is enZtled to receipt. Income with restricZons imposed is allocated to a Restricted Fund and matched with the expenditure. Capital grants are allocated to a Restricted Fund and matched with the depreciaZon on the related assets purchased with the grant. Tangible fixed assets and deprecia&on DepreciaZon is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life as follows: Long leasehold building no depreciaZon Fixtures & fiqngs 20% straight line Sports equipment 20% straight line Computer & office equipment 20% straight line Taxa&on The company is exempt from CorporaZon Tax as all of its income is used for charitable purposes. 2 OperaZng Surplus/Defcit The operaZng surplus/deficit is stated before charging: 31-Dec-24 31-Dec-23 £ £ DepreciaZon - owned assets 3,353 3,353 Directors’ remuneraZon and other benefits 0 0 Auditor fees 0 0 Notes to the financial statements (con,nued) 4 Fixed assets Canolfan Ceiriog Fixtures & Sports Computer & Centre Buildings fiqngs equipment Office Total £ £ £ £ £ £ Cost At 1 January 2024 650,000 35,925 43,425 18,127 4,713 752,190 AddiZons - 0 - 0 - 0 - 0 - 0 - 0 650,000 35,925 43,425 18,127 4,713 752,190 Deprecia&on At 1 January 2024 - 0 - 0 28,403 18,127 4,713 51,243 Charge for the year - 0 - 0 3,353 0 0 3,353 At 31 December2024 - 0 - 0 31,756 18,127 4,713 54,596 Net book value At 1 January 2024 650,000 35,925 15,022 0 0 700,947 At 31 Dec 2023 650,000 35,925 11,669 0 0 697,594 A capital grant was received from the Big Looery Fund towards the building costs of the Canolfan Ceiriog Centre. CondiZons upon the grant will remain in place for 80 years aser the compleZon of the building work. The building work was completed in 2007. The Company has a 60 year lease on the land on which the Canolfan Centre building stands from Wrexham County Borough Council for a peppercorn rent. 5 Debtors 31-Dec-24 31-Dec-23 Prepayments 0 0 Trade debtors 1,293 2,833 2,833 2,077 6 Creditors 31-Dec-24 31-Dec-23 Grants received not uZlised at year-end 0 0 Accruals 0 0 Trade Creditors 0 1,488 0 1,488 Notes to the financial statements (con,nued) 7 Reserves Policy The company has established a reserves policy which requires that a minimum of £16,000 will be retained on reserve to cover future trading requirements. 8 Related parZes The company is managed by the Trustees/ Directors as listed within the company informaZon. During the year no payments were made to the directors in respect of services or travel expenses (2023; nil) 9 Independent ExaminaZon of these Accounts These accounts have been independently examined by Mr. T. Dean of Coed -y-Glyn Uchaf LL20 7NP. Mr Dean has reported to the Trustees that he has reviewed these accounts and that the financial contained herein have been derived from the accounZng records. He also reported that the the financial statements are of the required format and that he is unaware of any circumstances which would cause concern.