REGISTERED COMPANY NUMBER: 04713045 (England and Wales) REGISTERED CHARITY NUMBER: 1115943
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
FOR
TALBOT COMMUNITY CENTRE
Baker Knoyle Chartered Accountants Orbit Business Centre Merthyr Tydfil CF48 1DL
TALBOT COMMUNITY CENTRE
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 15 |
| Detailed Statement of Financial Activities | 16 | to | 17 |
TALBOT COMMUNITY CENTRE (REGISTERED NUMBER: 04713045)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
The Trustee Report includes the Report of the Directors' as required by company law.
OBJECTIVES AND ACTIVITIES Objectives and aims
The objects of the charity are:
-
To promote for the benefit of the inhabitants of Kenfig Hill and its neighbourhood without distinction of sex, sexual orientation, race, or of political, religious or other opinionsby associating together the said inhabitants and the local authorities, advance education and to provide facilities in the interest of social welfare for recreation and leisure time occupation with the object of improving the conditions of life for the said inhabitants.
-
To secure the maintenance of development of a community centre and to equip and amanage the same (whether alone or in co-operation with a local authority or other person or body).
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To promote such other charitable purposes as may from time to time be determined. the Charity shall be non-party and non-sectarian in religion.
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.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
It has been a difficult time over the previous twelve months following the pandemic, making sure that the public remains safe whilst using the community centre but trying to return to our previous activities. Many users were still reluctant to return following Covid-19 due to lack of confidence and health fears. This has led to some changes within the community centre to find the best way forward to help those feel more confident and make sure that provided activities are well-attended safely.
We have been able to receive some funding during this time, aided by BAVO (Bridgend Association of Voluntary Organisations) in finding funding that fits with the limited schedule of activities we have been able to support at this time. During this, we lost a number of volunteers as they returned to work following furlough and lockdown plans. We are sad to have seen them go but appreciate all that these volunteers were able to offer us. We have continued to maintain the update of the building such as upgrading our lighting to more efficient LED with sensors to help us become more eco-friendly and financially efficient.
We have continued to reach out to the community to find out how they feel about changes to our work and make sure that they still feel supported by the community centre. As such, we remain a constant in the community even in times of great uncertainty and we appreciate the support that we get from our members, trustees and third sector partners. We are always seeking new members and volunteers and consistently review the offer available to residents.
FINANCIAL REVIEW
Reserves policy
Free reserves have been used over this financial period to fund essential core staffing costs and running costs of the centre. At the 31st March 2022 free reserves were £17,473 (2021: £33,412).
There is currently no reserves policy. An appropriate policy is being formulated by the trustees.
Page 1
TALBOT COMMUNITY CENTRE (REGISTERED NUMBER: 04713045)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022
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 charity is registered in England & Wales.
Recruitment and appointment of new trustees
New Trustees must be interviewed by the current Board of Trustees, and if appointed are informed of their legal obligations under charity law, the decision making process and the business plan and recent financial performance of the charity. The charity aims to recruit people who can offer a range of skills for example personnel, training, finance etc.
Organisational structure
The Trustee Board is made up of five stakeholders of the village representing a good cross section of local interests and skills. The quorum necessary for the transaction of business of the Board is 3 or 50%. the maximum number of Board members is 9 and not less than 3. Up to three persons may be co-opted between one Annual General Meeting and the next. Annual General Meetings will be held as soon as practicable after the year ended 31st March. Twenty one days notice is given for the Annual General Meeting.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
04713045 (England and Wales)
Registered Charity number
1115943
Registered office
9 Prince Road Kenfig Hill Bridgend Mid Glamorgan CF33 6ED
Trustees
Councillor A John E Harman J M Webber (resigned 2.4.22) Councillor J A Gebbie Chair G E Hewitt (appointed 1.5.21) C Y Butcher (appointed 2.4.22)
Independent Examiner
Richard Knoyle ACA FCCA Baker Knoyle Chartered Accountants Orbit Business Centre Merthyr Tydfil CF48 1DL
Bankers
Lloyds Bank Plc.
Approved by order of the board of trustees on 7 March 2023 and signed on its behalf by:
Councillor J A Gebbie - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF TALBOT COMMUNITY CENTRE
Independent examiner's report to the trustees of Talbot Community Centre ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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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
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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 Knoyle ACA FCCA Baker Knoyle Chartered Accountants Orbit Business Centre Merthyr Tydfil CF48 1DL
7 March 2023
Page 3
TALBOT COMMUNITY CENTRE
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2022
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 3,133 Other trading activities 3 25,903 Investment income 4 1 Other income 1,349 Total 30,386 EXPENDITURE ON Charitable activities Community Centre Activities 48,373 NET INCOME/(EXPENDITURE) (17,987) RECONCILIATION OF FUNDS Total funds brought forward 110,934 TOTAL FUNDS CARRIED FORWARD 92,947 |
Restricted funds £ 6,038 - - - 6,038 14,870 (8,832) 91,555 82,723 |
2022 Total funds £ 9,171 25,903 1 1,349 36,424 63,243 (26,819) 202,489 175,670 |
2021 Total funds £ 55,836 34,152 2 - |
|---|---|---|---|
| 89,990 | |||
| 81,166 | |||
| 8,824 193,665 |
|||
| 202,489 |
The notes form part of these financial statements
Page 4
TALBOT COMMUNITY CENTRE (REGISTERED NUMBER: 04713045)
BALANCE SHEET
31 MARCH 2022
| Notes FIXED ASSETS Tangible assets 10 CURRENT ASSETS Stocks 11 Debtors 12 Cash at bank CREDITORS Amounts falling due within one year 13 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 15 Unrestricted funds Restricted funds TOTAL FUNDS |
2022 £ 158,197 76 345 18,958 19,379 (1,906) 17,473 175,670 175,670 92,947 82,723 175,670 |
2021 £ 162,830 209 - 46,601 46,810 (7,151) 39,659 202,489 202,489 110,934 91,555 202,489 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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.
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 7 March 2023 and were signed on its behalf by:
J A Gebbie - Trustee
The notes form part of these financial statements
Page 5
TALBOT COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Financial reporting standard 102 - reduced disclosure exemptions
The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- 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 2, 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.
Page 6
continued...
TALBOT COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
1. ACCOUNTING POLICIES - continued
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost Plant and machinery - 20% on reducing balance
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
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.
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.
The organisation is a company, registered in England & Wales, limited by guarantee and a registered charity. The directors are the trustees and they form a board of trustees which sets the strategic direction of the charity and monitors the performance of the organisation against its goals. The aims and objectives and rules for governance are set out in the charitable company's Memorandum and Articles of Association.
Tangible fixed assets
Tangible fixed assets are included in the balance sheet at historic cost less accumulated depreciation. grant receipts which fund fixed asset acquisitions are taken to restricted funds and the appropriate depreciation charge is made against those funds over the expected useful life of the asset.
Leased assets
Fixed assets acquired under finance leases are included in the balance sheet at historic cost less accumulated depreciation. The present value of future rentals is shown as a liability. Interest payable in each period is charged as an expended resource in proportion to the amount outstanding under the lease. Operating lease rentals are charged as expended resources as incurred.
Stock
Stock is included in the balance sheet at the lower of cost or net realisable value, provisions being made as appropriate against any obsolete or slow moving items. Where stock is held for a specific restricted purpose the relevant incoming resources are held as balances on restricted funds.
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price.
Going concern
The financial statements have been prepared on a going concern basis as the trustees consider there are no material uncertainties..
continued...
Page 7
TALBOT COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
| 2. DONATIONS AND LEGACIES 2022 £ Donations 3,133 Grants 6,038 9,171 Grants received, included in the above, are as follows: 2022 £ Garfield Weston 5,000 Community Foundation Wales - Bridgend CBC Covid Rates Grant - Groundwork UK (Tesco Bags of Help) - Money Saving Expert - BAVO - Coalfields Regeneration Trust 1,038 6,038 3. OTHER TRADING ACTIVITIES 2022 £ Fundraising events 5,713 Rent 9,385 Catering 10,368 Membership fees 437 25,903 4. INVESTMENT INCOME 2022 £ Deposit account interest 1 5. SUPPORT COSTS Governance Other costs £ £ Community Centre Activities 1,712 2,468 |
2021 £ 10,158 45,678 |
|---|---|
| 55,836 | |
| 2021 £ 5,000 5,000 24,000 1,666 1,000 9,012 - |
|
| 45,678 | |
| 2021 £ - 3,320 30,832 - |
|
| 34,152 | |
| 2021 £ 2 Totals £ 4,180 |
continued...
Page 8
TALBOT COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
5. SUPPORT COSTS - continued
Support costs, included in the above, are as follows:
| Support costs, included in the above, are as follows: | ||
|---|---|---|
| 2022 | 2021 | |
| Community | ||
| Centre | Total | |
| Activities | activities | |
| £ | £ | |
| Insurance | 1,712 | 1,620 |
| Independent Examiners Fees | 1,728 | 1,020 |
| Legal & professional fees | 740 | - |
| 4,180 | 2,640 | |
| NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | ||
| 2022 | 2021 | |
| £ | £ | |
| Depreciation - owned assets | 4,633 | 5,043 |
| Independent Examiners Fee | 1,728 | 1,020 |
6. NET INCOME/(EXPENDITURE)
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2022 nor for the year ended 31 March 2021.
8. STAFF COSTS
The average monthly number of employees during the year was as follows:
| Community Centre Staff No employees received emoluments in excess of £60,000. |
2022 4 |
2021 4 |
|---|---|---|
The key management of the charity comprises the Directors/Trustees. The total benefits of the the key management personnel of the charity was £Nil (2021: £Nil).
continued...
Page 9
TALBOT COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
| 9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 34,158 Other trading activities 34,152 Investment income 2 Total 68,312 EXPENDITURE ON Charitable activities Community Centre Activities 65,735 NET INCOME 2,577 Transfers between funds 2,585 Net movement in funds 5,162 RECONCILIATION OF FUNDS Total funds brought forward 105,772 TOTAL FUNDS CARRIED FORWARD 110,934 10. TANGIBLE FIXED ASSETS Freehold property £ COST At 1 April 2021 and 31 March 2022 211,322 DEPRECIATION At 1 April 2021 53,401 Charge for year 3,406 At 31 March 2022 56,807 NET BOOK VALUE At 31 March 2022 154,515 At 31 March 2021 157,921 |
Restricted funds £ 21,678 - - 21,678 15,431 6,247 (2,585) 3,662 87,893 91,555 Plant and machinery £ 54,886 49,977 1,227 51,204 3,682 4,909 |
Total funds £ 55,836 34,152 2 89,990 81,166 8,824 - 8,824 193,665 202,489 Totals £ 266,208 103,378 4,633 108,011 158,197 162,830 |
Total funds £ 55,836 34,152 2 |
|---|---|---|---|
| 89,990 | |||
| 81,166 | |||
| 8,824 - |
|||
| 8,824 193,665 |
|||
| 202,489 |
continued...
Page 10
TALBOT COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
11. STOCKS
| Stocks 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Social security and other taxes Other creditors Sundry Creditors Deferred income Accrued expenses |
2022 £ 76 2022 £ 345 2022 £ 444 1 33 - 1,428 1,906 |
2021 £ 209 |
|---|---|---|
| 2021 £ - |
||
| 2021 £ 78 - 33 5,000 2,040 |
||
| 7,151 |
Deferred Income
Deferred income represents income received from contributing agencies where the contribution was restricted to a fixed time period project which extends beyond the current financial year. Income is deferred on the basis that the contribution was to the project as a whole, the time period of the project was fully disclosed to the contributing agencies and that time period is certain.
| The deferred income carried forward is analysed as follows: | 2022 | 2021 |
|---|---|---|
| £ | £ | |
| Opening balance | 5,000 | 10,000 |
| Movement in the year | (5,000) | (5,000) |
| Deferred income carried forward | - | 5,000 |
| Deferred income analysed by project: | 2022 | 2021 |
| £ | £ | |
| Garfield Weston | - | 5,000 |
| - | 5,000 | |
continued...
Page 11
TALBOT COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
14. ANALYSIS OF NET ASSETS BETWEEN FUNDS
| Unrestricted | Restricted | 2022 Total | 2021 Total | |
|---|---|---|---|---|
| Funds | Funds | Funds | Funds | |
| £ | £ | £ | £ | |
| Fixed Assets | 75,474 | 82,723 | 158,197 | 162,830 |
| Net Current Assets/(Liabilities) | 17,473 | - | 17,473 | 39,659 |
| 92,947 | 82,723 | 175,670 | 202,489 | |
15. MOVEMENT IN FUNDS
| Unrestricted funds General fund Designated Fixed Assets Restricted funds Garfield Weston Foundation Big Lottery Asset Fund BAVO Food Poverty Grant Scheme TOTAL FUNDS |
At 1/4/21 £ 33,412 77,522 110,934 3,235 85,308 3,012 91,555 202,489 |
Net movement in funds £ (15,939) (2,048) (17,987) (3,235) (2,585) (3,012) (8,832) (26,819) |
At 31/3/22 £ 17,473 75,474 |
|---|---|---|---|
| 92,947 - 82,723 - |
|||
| 82,723 | |||
| 175,670 |
Net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 30,386 | (46,325) | (15,939) |
| Designated Fixed Assets | - | (2,048) | (2,048) |
| 30,386 | (48,373) | (17,987) | |
| Restricted funds | |||
| Garfield Weston Foundation | 5,000 | (8,235) | (3,235) |
| Big Lottery Asset Fund | - | (2,585) | (2,585) |
| BAVO Food Poverty Grant Scheme | - | (3,012) | (3,012) |
| Coalfields Regeneration Trust | 1,038 | (1,038) | - |
| 6,038 | (14,870) | (8,832) | |
| TOTAL FUNDS | 36,424 | (63,243) | (26,819) |
continued...
Page 12
TALBOT COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
15. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net movement At 1/4/20 in funds £ £ Unrestricted funds General fund 25,791 2,577 Designated Fixed Assets 79,981 - 105,772 2,577 Restricted funds Garfield Weston Foundation - 3,235 Big Lottery Asset Fund 87,893 - BAVO Food Poverty Grant Scheme - 3,012 87,893 6,247 TOTAL FUNDS 193,665 8,824 Comparative net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds General fund 68,312 Restricted funds Garfield Weston Foundation 5,000 Community Foundation Wales 5,000 Groundwork UK (Tesco Bags of Help) 1,666 Money Saving Expert 1,000 BAVO Food Poverty Grant Scheme 9,012 21,678 TOTAL FUNDS 89,990 |
Transfers between At funds 31/3/21 £ £ 5,044 33,412 (2,459) 77,522 2,585 110,934 - 3,235 (2,585) 85,308 - 3,012 (2,585) 91,555 - 202,489 Resources Movement expended in funds £ £ (65,735) 2,577 (1,765) 3,235 (5,000) - (1,666) - (1,000) - (6,000) 3,012 (15,431) 6,247 (81,166) 8,824 |
|---|---|
continued...
Page 13
TALBOT COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
15. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Designated Fixed Assets Restricted funds Big Lottery Asset Fund TOTAL FUNDS |
At 1/4/20 £ 25,791 79,981 105,772 87,893 193,665 |
Net movement in funds £ (13,362) (2,048) (15,410) (2,585) (17,995) |
Transfers between funds £ 5,044 (2,459) 2,585 (2,585) - |
At 31/3/22 £ 17,473 75,474 |
|---|---|---|---|---|
| 92,947 82,723 |
||||
| 175,670 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 98,698 | (112,060) | (13,362) |
| Designated Fixed Assets | - | (2,048) | (2,048) |
| 98,698 | (114,108) | (15,410) | |
| Restricted funds | |||
| Garfield Weston Foundation | 10,000 | (10,000) | - |
| Community Foundation Wales | 5,000 | (5,000) | - |
| Big Lottery Asset Fund | - | (2,585) | (2,585) |
| Groundwork UK (Tesco Bags of Help) | 1,666 | (1,666) | - |
| Money Saving Expert | 1,000 | (1,000) | - |
| BAVO Food Poverty Grant Scheme | 9,012 | (9,012) | - |
| Coalfields Regeneration Trust | 1,038 | (1,038) | - |
| 27,716 | (30,301) | (2,585) | |
| TOTAL FUNDS | 126,414 | (144,409) | (17,995) |
Restricted funds
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.
Transfers between funds
Transfers between funds arise where unrestricted funds have been used to fund shortfalls in restricted projects. The free reserves are available to provide funds to cashflow projects funded on a retrospective basis and are available with the approval of the trustees to fund any expenditure on projects or expenses which fall within the organisations general aims and objectives. They are accumulated in accordance with the reserve policy as stated in the Trustee Report.
continued...
Page 14
TALBOT COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022
15. MOVEMENT IN FUNDS - continued
Designated funds
Designated funds represent the amounts set aside to write down the remaining net book value of fixed assets held against unrestricted funds.
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 area:
Garfield Weston
This is funding to continue the Cwtch Cynffig group which is a group that supports disabled people and their carers socially.
Big Lottery Asset Fund
This was funding in 2005 for refurbishment of the Talbot Community Centre.
BAVO Food Poverty Grant Scheme
Funding to assist with the meal delivery service during the Covid 19 pandemic.
16. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2022.
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 average number of volunteers in the year was 1.
18. GOING CONCERN
The trustees are aware that free reserves have reduced and that future income streams are uncertain. However, different sources of income generation are continually reviewed, together with cost savings where possible, therefore the trustees are confident that the financial difficulties will be overcome and have therefore prepared the accounts on a going concern basis.
Page 15
TALBOT COMMUNITY CENTRE
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
| FOR THE YEAR ENDED | 31 MARCH 2022 | |
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 3,133 | 10,158 |
| Grants | 6,038 | 45,678 |
| 9,171 | 55,836 | |
| Other trading activities | ||
| Fundraising events | 5,713 | - |
| Rent | 9,385 | 3,320 |
| Catering | 10,368 | 30,832 |
| Membership fees | 437 | - |
| 25,903 | 34,152 | |
| Investment income | ||
| Deposit account interest | 1 | 2 |
| Other income | ||
| Other income | 1,349 | - |
| Total incoming resources | 36,424 | 89,990 |
| EXPENDITURE | ||
| Charitable activities | ||
| Staffing costs | 26,673 | 33,275 |
| Pensions | 172 | 217 |
| Rates and water | 211 | 718 |
| Light and heat | 4,216 | 3,272 |
| Sundry expenses | 400 | 758 |
| Repairs and renewals | 9,187 | 10,577 |
| Catering expenses | 6,541 | 18,346 |
| Postage, stationery and telephone | 1,719 | 1,848 |
| Activity costs | 2,262 | 611 |
| Sundry Equipment | 1,215 | 3,861 |
| Cleaning costs | 1,592 | - |
| Licences and subscriptions | 242 | - |
| Freehold property | 821 | 821 |
| Improvements to property | 2,585 | 2,585 |
| Plant and machinery | 1,227 | 1,637 |
| 59,063 | 78,526 | |
| Support costs | ||
| Other | ||
| Insurance | 1,712 | 1,620 |
This page does not form part of the statutory financial statements
Page 16
TALBOT COMMUNITY CENTRE
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Other | ||
| Governance costs | ||
| Independent Examiners Fees | 1,728 | 1,020 |
| Legal & professional fees | 740 | - |
| 2,468 | 1,020 | |
| Total resources expended | 63,243 | 81,166 |
| Net (expenditure)/income | (26,819) | 8,824 |
This page does not form part of the statutory financial statements
Page 17