COMPANY REGISTRATION NUMBER. 04638265 CHARITY REGISTRATION NUMBER: 1105315 s Foun mpany Limi uarant nts arch 2 GORDON DOWN & CO NYLI Accountants & Busin@ss Advisors 144 Walter Road Swansea SA15RW ITED Enfys Foundation Company Limited by Guaranleo Financlal Statements Year onded 31 March 2024 Page Trusteps, annual report (incorporating the directorfs report) Independent examiner's report to the trustees statement of Financial activilies (including income and expenditure account} Statement of financial position Notes to the financial statement.8 10 The following pages do not form part of the financlal statements Detailed statement of financial activitie.s 20 Enfys Foundation Company Limited by Guaranteo Trustees. Annual Report (Incorporating the Director's Report) Year ended 31 March 2024 The trustees, who are also the directors for the purposes of cornpany law, present their r8port and tho unaudited financ,ial ,%tatern6nts of the tharity'lor the year @nded 31 March 2024. Referonce and admlnlstratlve details Roglstered charity name Enfys Foundation Charlty roglstratlon number 1105315 Company rogislratlon nUM￿r 04638265 Prlnclpal office 4 Queen Street Neath Wales SA11 1DL R8gister8d office 4 Queen Street Neath Wales SA111DL The trustees Mr R Bettany Mr E Jone8-Evans Mr A L Walter Mr L Thoma. (Resigned 2PJ September 20231 (Appointed 25 oeptembp.r 2023) Ind&pèndent examinor Carl West 144 Wall@r Road Swansea SA15r and have come across no otFier mattents in connection with the examination to which 8tt8ntion should be drawn in this report in order to 8nable a proper understanding of the accounts to be reacFied. IA Carl West Indep6ndènt Examiner 144 Walter Road Swansea SA15RW Enfys Foundation Company Limited by Guarantee Statement of Financial Activities (including income and expenditure aGGount> Year ended 31 March 2024 2024 Restricted funds Total funds Total funds 2023 Unrestricted funds Income and endowments Donations and legacies Charitabl@ activities 367 209,739 210,106 62,809 82,97 209.739 31,927 215,374 Total Income 82,609 . 272.715 247,301 Expendlturp Expenditure on raising funds: Costs of rslsing donatlons and legacieFi Expendituro on charitabl(4 aclivilies Total oxponditur8 163,210 16,618 59,487 222.697 16,619 241,682 11,542 179,828 59,487 239.316 2Jf9,224 Net Incomel(¢xponcllture) and net movement In funds 30,278 3,122 33,399 (11,923} Reconciliation of funds Total funds broLtght forward Total funds carried forward 149,467 179,745 850 1 fj0,317 162,240 3,972 183,717 150,315 The statement of financial activilies includes all gains and losses recognis@d in th8 yoar. All income and expenditure derive from continuing activities. The notes on pages 10 to 18 form part of these financial statements. Enfys Foundation Company Limited by Guarantee Statement of Financial Posltlon 31 March 2024 2024 2023 Note Flxed assets Tangible fixed assets 14 8,360 16,721 Current a5set5 Debtors Cash at bank and in hand 15 11,931 178,272 10,208 139,385 190,203 149,593 Credltors: amounts falling due within one year Net. current assets 16 14,847 175,356 183,716 15,997 133,596 Total assets less Current Ilabilities 150,317 Net a55els 183,716 150,317 Funds of th8 charity Restricted funds Unrestricted ￿ndS 3,972 179,745 850 149,465 Total charlty funds 18 183,717 150,315 For the year &nding 31 March 2024 the charity was entitled tc exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities,. The members have not required the company to obtain an audit of Its financial statements for the year in question in accordance with section 476. The directors acknowledge their responsibilities for Gomplying with the requirements of the Act with respect to accounting records and thè preparation of financial statements. These financia! statements have been prepared in accordance with the provisions applicable to companie8 subjecl to the small companies, regime. The e fi ancial statements were approved by the board of truslees and authorised for issue on .t4.fié, and are signed on behalf of the board by: Beltany Trustee The notes on pages 10 to 18 form part of these flnanclal statemenls. s Foundation Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2024 General information The charily is a public benefit enlity and a private company Ilmlted by guarantee, registered In England arid Wale8 arid a rf)gist&rGd charity in England and Wales. The address of th@ reglstctsred office is 4 Queen Street, Neath, W91es, JPA111 DL. Statement crf compliance These financial statements have been prepared in compliance with FRS 102, 'The Flnanclal Reporting Standard applie,able in tho UK an(J the Republic of Ireland,, the Slatement of Recommended Practice dpplicxble to cFiariti@s pr@paring their accounts in accordance with the Flnancial Reporting .Itandard applicable in the UK and Republlc of Ireland {¥RS 102) (Charlties SORP (FRS 1021) and the Companies Act 2006. Accounting policies Basis of preparatlon The financial statements Fiave been prpparpd on Ihe historical cost basis. Golng concem Ther8 ar6 no material unc@riaintie8 about the charity's ability to conlinue. Dis¢lo$ure exemptlons Th8 entity satisfies the criteria of b8ing a qualifying fyntity as defined in FRS 102. As such, advaritage has been taken of the disclosure exemption availabl(9 under paragrapli 1.12 of FRS 102 not to prepare or disclose a ca.sh flow statement, Judgements and key sources of estimation uncertainty The preparalion of the flnanclcil statempnts requires managemonl to make judgements. 6stimat8.s and assumptions that affcJcl the amounts reported. l-hese estimate£> arid judgements are conlinually r6viowed and are based on experience and othor factors, including expectalions of futijre events that are believed to be reasonable under the circumstancLAs. Fund accounting Unrestricted funds are avallcible for use at the discrets'on of the trustees to further any of the charity's pury)Obes. Designaled funds are unrgstricted funds E>éirmarked by the trustC4e% for particular fvture project or commitment. Re8trid8d funds are subjected to restrictions on their expenditur& declared by Ihe dcnor Dr through th& t8rms of an appeal, and fall into on@ of two sub-cla,SiQJes: restricted Income fijnds or endowmenl fund.5. 10- Enfys Foundation Company Limited by Guaranteo Notes to the FinanGial Statements (L*ntlnued) Year ended 31 arch 2024 Accounting pollcies (6YpnllnuedJ Incoming resources All incoming rpSrJur(￿S arp included in the slatement of financial dCtivitie8 wFien pnlillement hss passed to tFie charlty. it is probable that the economic benefits associated with the tr8nsactSon will flow to th8 charlty and the amount can f)6 r611ably measured. Th& followlng sp8ciflts policles are applied to particijlar catpgories of income: incom@ from donations or grants is r8cognised wlif)ii there is Dvid@nc@ of entitlemf*nt t'o the gift, receipt is probable and its amount can bp measured reliably. legacy income is recogni,£ed when rece.ipt is probable and enlitlement is established. income from donated good8 is measured dt the fair V¢11ue of Ihe goods unless fhi5 IS impractical to measure reliably, in which cas@ the value is derived from th8 cost to the donor or th8 8slimated r6salf) valuo). Donated facililies and s8rvic@s arc4 r8cognis8d in the accounts when received if the value. can be roliably measured. No amounts are Included ft)r th6 contributioii of g8n8ral volunt8ors. incom@ from conlvacts for the supply of 8orvic8s is recognised with the delivery of Ihe cont'rarted seNice. Thits￿ is cla,ssifi@d as unrestriGt@d funds un16s,g th@r8 is a conlractual requirempnt for it to be spent on d particular purpose and retumed if unspent, in whlch caoe otrir.ted. it may be regardfyd as r¢KJ Resources expended Expenditure is recognised on an accruals ba￿ ijis as a liabili'ly is incijrred. Exppndlture includes any VAT which cannot be fully recovered, and is dassified under h@adiiigs of th8 Statement of financial activitietr to which it relates: expenditure an raising fijnds includes the costv of all fLJndr8ising aclivilips, events, non-charitable trading activities, and the Srale of donated goods. expendlture on charitable activitles indude8 all costs incurred by a charity in undertaking activities tl)at further Its charilable alms for the benefit of its beneficiaries, including those support costs and cosis relating to the govEJrnanc@ of th@ charity apportioned to charitable activities. other expendilure includes all expenditure thBt is neither relatpd to raising funds for Ih@ chatity nor part of ils expenditure ori charitable actlvllles. All costs are allocated to 8xponditure categories reflecting the use of th& resour¢¢. Direct costs attribulable to a singlp activity ar@ allocat@d directly to that activity. Shared costs are apportioned b6M86n the activities they r,ontribute to on a reasonablo, justifiable and conolstent basis. Tangiblo assots Tanglble assets are initially recorded at cost, and subsequently stated at cost l@dPS any accumulaled depreciation and impalrment losses. Any tangible assets carried at revalued amounts are recorded at th8 fair value at the dato of rovaluation less any truubsequent accumulated depreciation and subsequent accumulal@d impairment losses. Enfys Foundation Company Limited by Guarantee Notes to the Financial Statements (conunuedj Year ended 31 March 2024 Accountlng pollclos (6x)ntlnu¢d) Tangiblo a¥s8ts foontlnuerl) An Increa%e in the carying amount of an asset as a re8uIt of a revaluation, is reccgnloved In olPier recognised galns and losses, unless it rèv6rs@S d charge for impaimiant that has previously been recognised as axp8nditur& wilhin the statemenl of financial activities. A decrease in the carylng amount of an asspl as a resull of revaluation, is recognised in other recognised gains and losses, except to which it offsets any provious rev¢Aluation gain, In wlilch case the loss is shown within othgr recognised gains and108s&s on th& siatement of financial activities. Depreclatlon Depr8ciation 18 calculated so as to writ9 off th8 Cost or valuation of an akn8t. i@ss its rosidual Value, over the U*deful economlc Ilfo of that asset as follows,. Motor vehicles 25Wo Straight line Impairrn@nt of fixed assets A revlow for indicaton8 of impainment is carried out at each repoiting date. with the reGoverabl& amount being 8Stimaled where SUGh indicalors exist. whe￿ th(> carrying valu@ OXC148ds th@ recoverable amourit, the asset Is impalred accorcfingly. Prlor impairmenl's are also reviewed for possible reversal al eacfi reporting date. Financial instruments The charity only has financial Gissets and financi81 liabilities of a kind thal qualify a.s basic financial instruments. Bdsic financial instruments dre initially recognised at iransaction value and subsequently measured at t'heir spltlement value with the pxception of bank102ns which would be subsequently measured at the carying value plus accrued intprest less repayments. Dofined contribution plans Gontributions to defined contribution plans are recognised as an Lxpense in the period in which the related service is provided. Prepaid contributions are recognisgd as an asset lo the extent that the prepayment will lead to a reduction in future payments or a cash rafund. When contributions are not 8XP@cted to bg soltled wholly within 12 months of the end of the reporting date in which the gmployefys render the related servic8, the liability is measured on a discounted pres6nt Value basis. The unwinding of the disrount is recognised as an exp8ns8 in the period in which i'l arisp Limited by guarantee l-he Charity is a company limiled by guarantee and therefore has no share capital. 12 Enfys Foundation Company Lirnited by Guarantee Notes to the Financial Statements (Gontlnuedl Year ended 31 March 2024 Donations and legacies Unrestricted Funds Restricted Total Funds Funds 2024 Donattons Donations 367 367 Grants National Lottery Neath Port Talbot CVS WCVA- Third Seclor Resilien￿ Grdnt Neath Port Taifjol EmployabilÈiy The Community Ronowal Fund NPTCBC Workways 47,660 12,500 47,660 12,500 2,449 62,609 2,449 367 62,976 Unrestricted Restricted Total Funds Funds 2023 DOna￿on$ Donations 995 995 GrdntS National Lottery Neath Port Talbot CVS WCVA- Third Sector Rpsiliencp. Grant Neath Port Talbot Employabillty Th& Community Renewal Fund NPTCBC Workways 9,262 5,078 15,742 850 9,262 5,078 15,742 850 995 30,932 13- s Foundation Company Limited by Guarantee Notes to the Flnancial Statements (¢ontlnued) Year ended 31 March 2024 Charitable activities Unreslricted Total Funds Unrestricted Total Funds 2024 2023 Product Income Bike Sales Brlc A Brac Dctslivery Charges Electrical Sales Furniture uQales Garclening Household Salos Tools 1,822 20,889 10,707 2,021 46,257 1Q6,140 1,822 20,889 10,707 2,021 46,257 106,140 11,446 20,288 2,376 41,844 71,995 1,013 60.449 328 11,44.6 20,288 2,376 41,1144 1,013 60,449 328 27,241 297 27,241 297 209.739 209,739 215,374 215,374 Costs of raising donation5 and logaci65 lJnrestrlG'ted Funds Restricted Total Funds Funds 2024 Costs of raising donations and Ipgdclptr . Donatlons 163,?.10 59,487 222,697 Unrestricted Funds Restricted Total Funds Funds 2023 CothDLs of ￿lsing donations and legacies- Donations 195,816 51,867 247,682 Expendlture on charltable actlvltles by fund type UnreJtrieted Total Funds Unr&stricted Total Funds Funds 2024 Funds 2023 Support costs. 16,618 16,619 11,543 11,542 Exp&ndituro on charitablÉ> activities by actlvlty type Total funds 2024 Total fund 2023 Support costs. Charltable activities Govemance costs 11,215 5,404 11,215 5,404 12.394 (852) 11,542 16,619 16.619 14- Enfys Foundation Company Llmitod by Guarantee Notes to the Flnancial Statements (contintsodj Year ended 31 March 2024 10. Net In¢omellexpendlture) Net incomel{expenditure) is stated after charging/{creditingl: 2024 2023 Depreclation of tanglble fixed ass@ts 8.361 8,360 11. Independent examlnatlon fee$ 2024 2023 Fees payable lo the independenl examiner for., Independent examination of tho financial statements 1,550 1,50Q 12. Staff costs The total siafF costs and camployec benefits for the reportlng period are analysed as follows: 2024 2023 Wages and salarles Soclal securlty costs Employpr contributions to p&nsion plans 110,791 7,495 141,391 6,147 2,966 119,868 Tre average head c£)unt ef employees dunno the year was 712023.. 6). No employee received employee benefits of Inore than £60.000 during th@ y6ar12023: Nil). 13. Trustee romunoration and expenses No remun(>r8Lion or other bentafits from pmployment with th8 charily or 8 related enlity were received by the trustees durlng the year ended 31 March 2024. There were no truste&s' expenses paid for the year 8nded 31 March 2023. 15- Enfys Foundation Company Llmlted by Guarantee Notes to the Flnanclal Statements (contlnu6dJ Year ended 31 March 2024 14. Tanglble flxed asS6ts Fre8hold Fixtures and property fithngs Motor vehicles Total Cost At l Apr 2023 Disposals At 31 Mar 2024 47,477 <47,477) 92,705 {92,705) 66,497 206,679 (140,182) 86,497 E6,497 Deproclatlon At 1 Apr 2023 Charge for the year Disposals At 31 Mar 2024 47.477 92,705 49,776 8,361 189.958 8.361 (140,182) 58,137 (47,477) (92,705) 58,137 Carrying amount At 31 Mar 2024 8.360 8.360 At 31 Mar 2023 16,721 16,721 15. Debtors 2024 2023 Trade deblors Other d8blors 3,884 8,047 724 9,484 11,931 10,208 16. Credltors: amounts falllng due wlthln one year 2024 2023 Trade croditors Accruals and deferred income Social security and other taxes Other creditors 363 12.132 1,935 417 3,878 9,650 2,469 14,847 15,997 17. Penslons and other post retirement benoflts Defined contributlon plans The amount recognised in incomp or expenditur& as an expens8 in relation to defined contribution plans was £1,582 (2023: £2,966). 16- Enfys Foundation Company Llmlted by Guarantee Notes to the Financial Statements fcontinued) Year ended 31 March 2024 18. Analysls of ¢harltablp funds Unrestrlcted funds At Income Expenditure 31 Mar 2024 Al 1 Apr 2023 General funds 149,467 210,106 {179,628) 179.745 At In￿rn@ Exp&ndlture 31 Mar 2023 At 1 Apr 2022 General ￿ndS 140,455 216,369 {207,359) 149.465 Restrlcted funds At Income Ixpenditure 31 Mar 2024 Al 1 Apr 2023 Niltional Lotlc'ry Ne8th port Talbot CVS WCVA- Third Sector ResilienGe Grant Swansea University Health Board Neath Port Talbol Employsbility Tho Community Renewal Fund NPTCBC Workways 47,660 12,Jroo (43,688) (12,5001 3,972 850 (850) (2,449) (59,487) 2,449 62,609 850 3,972 At Income F￿pendIture 31 Mar 2023 At 1 Apr 2D22 National Loll@ry Neath port Talbot CVS WCVA- Third Sector Resillence Grant SwE)nsea Univer8ity14ealth Bodrd Neatri Port Talbot Employabllity The Community Ronewal Fund NPTCBC Workways 20,785 1,000 9,262 {30,047} (1.000) {5,078) {15,742} 5,078 1 Jf,742 850 850 21,785 30,932 151,887) 850 17 Enfys Foundation Company Llmitod by Guarantee Notes to the Financlal Statements (ctsntlnuod) Year ended 31 March 2024 19. Analysls of net assels between funds Unrestricted Funds Rostricted Tolal Funds Funds 2024 Tangible fixed asseL8 Current assets Creditors less thari 1 y¢3ar Net assets 8,360 186,231 (14,847) 179,744 8,360 190.203 {14,847> 183,716 3.972 3,972 Unrestricted Funds Restricted Total Funds Funds 2023 Tangible fixed assets Gurrent assets Cr&diturs less than 1 year Net assets 16,721 148,743 (15,997) 149,467 16,721 149,593 {15,997) 150,317 850 850 Enfys Foundation Company Limited by Guarant6e Management Information Year ended 31 March 2024 The following pages do not form part of tho financial slat8ments. 19- Enfys Foundation Company Limited by Guarantee Detailed Statement of Financial Activities Year ended 31 March 2024 2024 2023 Income and endowments Donatlons and leqacles Donations National Lottery Neath Port Talbot. CVS WCVA- Third Sector Resilien￿ Grant Neath Port Talbot Employability Th8 Community Rgnewal Fund NPTCBC Workways 367 47,660 12.500 995 9,262 5,078 15,-142 850 2.449 62.976 31,927 Charitable activiti6s Product Income Bikp Salps Bric A Brac Dellvery Charges Electrical Salos Furniture Sal88 Gardening Flousohold Sales Tools 1,822 20,889 10.707 2.021 46,257 106,140 11,446 20.288 2,J76 41,844 71.995 1.013 60,449 328 27,241 297 209,7,39 215,J74 Total inoome 272.715 247,301 -20- Enfys Foundation Company Llmitèd by Guarantee Detailod Statement of Financial Activities (contlnugd) Year ended 31 March 2024 2024 2023 Exp6nditure Costs of ralslng donatlons and legacles Purchases Wages and s81aries Employer's NIC Perision costs Rent Light and heat Repairs and maintenance Insurance Motor vehicle expenses l_@gal and professional fees 75 110,791 7,495 1.582 2,311 5,021 3.741 4,629 2,Jf67 2,628 6,427 141,391 6,147 2,966 6,136 10,267 2,219 4,975 5,857 1,686 [ ji Telephone Adverti.sing Cleaning Gonsultancy fee& and expenses Equipment Pririting and reproduction Bank c'hdrges CardnBt charg@s Equipment hire Health and safety FCC Environment Volunteer expense payments Trainirig expenses 1.95e 402 20 32,500 1,807 1,976 1,174 314 1,970 245 1,009 1,814 673 1,048 2,597 524 436 36,918 3,299 350 37,882 5,032 2,522 247,682 222,697 Expenditure on charitable activitles Motor veliide expenses L8gal and professional fees Depreciation Office stationery He81th and Safety Licence5 and sub%criptions Recruitrnenl Relreshments 886 5,404 8,361 459 473 949 2,129 (852) 8.361 233 358 24 308 87 16,619 11,542 Total expenditure 239,316 259,224 Not incomellexpenditure) 33,399 {11,923) -21