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 2024
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 2024
| 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 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
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:
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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.
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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
During the year, the organisation was fortunate to receive grant funding amounting to £7,665. This enabled, sports, halloween and other activities to take place.
The main funding source, in addition to the above grant funding, during 2023-2024 was hall hire (rental) income.
We would like to thank all our funders for their support of the centre and community during the last year.
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 2024 free reserves were £4,548 (2023: £18,379). There is currently no reserves policy. An appropriate policy is being formulated by the trustees.
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.
Page 1
TALBOT COMMUNITY CENTRE (REGISTERED NUMBER: 04713045) REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
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 eight 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 (resigned 8.11.23) E Harman Councillor J A Gebbie Chair to 07.08.24 (resigned 7.8.24) G E Hewitt C Y Butcher P Pitcher (appointed 3.10.23) (resigned 25.2.24) G Bradshaw (appointed 3.10.23) J Webber (appointed 7.8.24) J Williams (appointed 7.8.24) F Pegg (appointed 7.8.24)
Day to Day Management
Amy Jones - Centre Manager
Independent Examiner
Richard Knoyle ACA FCCA Baker Knoyle Chartered Accountants Orbit Business Centre Merthyr Tydfil CF48 1DL
Approved by order of the board of trustees on 16 December 2024 and signed on its behalf by:
J Webber - 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 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
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accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
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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
16 December 2024
Page 3
TALBOT COMMUNITY CENTRE
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 700 Other trading activities 3 26,478 Investment income 4 80 Other income - Total 27,258 EXPENDITURE ON Charitable activities Community Centre Activities 42,520 NET INCOME/(EXPENDITURE) (15,262) RECONCILIATION OF FUNDS Total funds brought forward 92,112 TOTAL FUNDS CARRIED FORWARD 76,850 |
Restricted funds £ 6,965 - - - 6,965 4,550 2,415 80,138 82,553 |
2024 Total funds £ 7,665 26,478 80 - 34,223 47,070 (12,847) 172,250 159,403 |
2023 Total funds £ 17,295 37,303 23 154 54,775 58,195 (3,420) 175,670 172,250 |
|---|---|---|---|
The notes form part of these financial statements
Page 4
TALBOT COMMUNITY CENTRE (REGISTERED NUMBER: 04713045)
BALANCE SHEET 31 MARCH 2024
| Notes FIXED ASSETS Tangible assets 10 CURRENT ASSETS Debtors 11 Cash at bank and in hand CREDITORS Amounts falling due within one year 12 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 14 Unrestricted funds Restricted funds TOTAL FUNDS |
2024 £ 149,774 - 11,250 11,250 (1,621) 9,629 159,403 159,403 76,850 82,553 159,403 |
2023 £ 153,870 4,608 16,749 21,357 (2,977) 18,380 172,250 172,250 92,112 80,138 172,250 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
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(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
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(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 16 December 2024 and were signed on its behalf by:
J Webber - 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 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Financial reporting standard 102 - reduced disclosure exemptions
The charitable company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
- the requirements of Section 7 Statement of Cash Flows.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
The following specific policies are applied:
Voluntary income
Income received by way of grants, gifts or donation is included in full on receipt unless it is subject to a condition when it is treated as deferred income.
Deferred income
Income or grants received in advance are held as deferred income and carried forward to future accounting periods to be released when the defined purposes of the work or project have been completed, approved or certified.
Gifts in kind
Gifts in kind are included in the income and expenditure account where they are applied in carrying out charitable activities, where the company would otherwise have to purchase the donated facility and the benefit is both quantifiable and material. The quantifiable benefit is shown as both incoming and expended resources within the appropriate funds. Where the gift is an asset it is treated as income and taken to stock or fixed assets as appropriate.
The value of services provided by volunteers is not quantified.
Investment income
Investment income is included when receivable.
Trading income
Trading income is recognised when earned.
Government Grant Income comprises specific project related direct support. see note 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.
continued...
Page 6
TALBOT COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
1. ACCOUNTING POLICIES - continued
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost Plant and machinery - 20% on reducing balance
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
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 2024
2. DONATIONS AND LEGACIES
| Donations Grants Grants received, included in the above, are as follows: BAVO National Lottery Bridgend County Borough Council Pyle Community Council Sports Foundation The Community Matters Fund 3. OTHER TRADING ACTIVITIES Fundraising events Rent Catering Membership fees 4. INVESTMENT INCOME Deposit account interest 5. SUPPORT COSTS Finance £ Community Centre Activities 160 |
2024 £ 700 6,965 7,665 2024 £ 1,265 - - 200 500 5,000 6,965 2024 £ - 25,853 - 625 26,478 2024 £ 80 Governance Other costs £ £ 2,143 3,487 |
2023 £ 4,495 12,800 17,295 2023 £ 1,750 7,628 3,000 422 - - 12,800 2023 £ 5,817 25,006 6,045 435 37,303 2023 £ 23 Totals £ 5,790 |
|---|---|---|
continued...
Page 8
TALBOT COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
5. SUPPORT COSTS - continued
Support costs, included in the above, are as follows:
| Support costs, included in the above, are as follows: | ||
|---|---|---|
| 2024 | 2023 | |
| Community | ||
| Centre | Total | |
| Activities | activities | |
| £ | £ | |
| Bank charges | 160 | - |
| Insurance | 2,143 | 1,879 |
| Independent Examiners Fees | 1,524 | 1,428 |
| Legal & professional fees | 1,963 | 44 |
| 5,790 | 3,351 | |
| NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | ||
| Depreciation - owned assets | 2024 £ 4,096 |
2023 £ 4,327 |
| Independent Examiners Fee | 1,525 | 1,428 |
6. NET INCOME/(EXPENDITURE)
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
8. STAFF COSTS
| Wages and salaries Other pension costs The average monthly number of employees during the year was as follows: Community Centre Staff |
2024 £ 17,329 165 17,494 2024 2 |
2023 £ 21,930 172 22,102 2023 3 |
|---|---|---|
No employees received emoluments in excess of £60,000.
The key management of the charity comprises the Directors/Trustees. The total benefits of the the key management personnel of the charity was £Nil (2023: £Nil).
continued...
Page 9
TALBOT COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Other trading activities Investment income Other income Total EXPENDITURE ON Charitable activities Community Centre Activities NET INCOME/(EXPENDITURE) Transfers between funds Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD 10. TANGIBLE FIXED ASSETS COST At 1 April 2023 and 31 March 2024 DEPRECIATION At 1 April 2023 Charge for year At 31 March 2024 NET BOOK VALUE At 31 March 2024 At 31 March 2023 |
Unrestricted funds £ 4,495 37,303 23 154 41,975 41,092 883 (1,718) (835) 92,947 92,112 Freehold property £ 211,322 60,213 3,406 63,619 147,703 151,109 |
Restricted funds £ 12,800 - - - 12,800 17,103 (4,303) 1,718 (2,585) 82,723 80,138 Plant and machinery £ 54,886 52,125 690 52,815 2,071 2,761 |
Total funds £ 17,295 37,303 23 154 54,775 58,195 (3,420) - (3,420) 175,670 172,250 Totals £ 266,208 112,338 4,096 116,434 149,774 153,870 |
|---|---|---|---|
continued...
Page 10
TALBOT COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other debtors 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Social security and other taxes Other creditors Sundry Creditors Accrued expenses 13. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Restricted Funds Funds £ £ Fixed Assets 72,222 77,553 Net Current Assets/(Liabilities) 4,628 5,000 76,850 82,553 14. MOVEMENT IN FUNDS |
Other debtors 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Social security and other taxes Other creditors Sundry Creditors Accrued expenses 13. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Restricted Funds Funds £ £ Fixed Assets 72,222 77,553 Net Current Assets/(Liabilities) 4,628 5,000 76,850 82,553 14. MOVEMENT IN FUNDS |
Other debtors 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Social security and other taxes Other creditors Sundry Creditors Accrued expenses 13. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Restricted Funds Funds £ £ Fixed Assets 72,222 77,553 Net Current Assets/(Liabilities) 4,628 5,000 76,850 82,553 14. MOVEMENT IN FUNDS |
2024 £ - 2024 £ 75 1 33 1,512 1,621 |
2023 £ 4,608 2023 £ 87 1 33 2,856 2,977 |
||
|---|---|---|---|---|---|---|
| Unrestricted Funds £ 72,222 4,628 76,850 |
Restricted Funds £ 77,553 5,000 82,553 |
2024 Total Funds £ 149,775 9,628 159,403 |
2023 Total Funds £ 153,870 18,380 172,250 |
|||
| Unrestricted funds General fund Designated Fixed Assets Restricted funds Big Lottery Asset Fund The Community Matters Fund (Cost of Living) TOTAL FUNDS |
At 1/4/23 £ 18,379 73,733 92,112 80,138 - 80,138 172,250 |
Net movement in funds £ (13,751) (1,511) (15,262) (2,585) 5,000 2,415 (12,847) |
At 31/3/24 £ 4,628 72,222 76,850 77,553 5,000 82,553 159,403 |
|---|---|---|---|
continued...
Page 11
TALBOT COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
14. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Designated Fixed Assets Restricted funds Big Lottery Asset Fund BAVO Grant 2024 Sports Foundation Grant The Community Matters Fund (Cost of Living) Pyle Community Council Grant TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Designated Fixed Assets Restricted funds Big Lottery Asset Fund BAVO - Summer of Fun BAVO - Warm Hub Fund TOTAL FUNDS |
At 1/4/22 £ 17,473 75,474 92,947 82,723 - - 82,723 175,670 |
Incoming resources £ 27,258 - 27,258 - 1,265 500 5,000 200 6,965 34,223 Net movement in funds £ 882 1 883 (2,585) (212) (1,506) (4,303) (3,420) |
Resources Movement expended in funds £ £ (41,009) (13,751) (1,511) (1,511) (42,520) (15,262) (2,585) (2,585) (1,265) - (500) - - 5,000 (200) - (4,550) 2,415 (47,070) (12,847) Transfers between At funds 31/3/23 £ £ 24 18,379 (1,742) 73,733 (1,718) 92,112 - 80,138 212 - 1,506 - 1,718 80,138 - 172,250 |
|---|---|---|---|
continued...
Page 12
TALBOT COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
14. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 41,974 | (41,092) | 882 |
| Designated Fixed Assets | 1 | - | 1 |
| Restricted funds Big Lottery Asset Fund National Lottery (Toddler Group) BAVO - Summer of Fun BAVO - Social Isolation BAVO - Warm Hub Fund Pyle Community Council (Lift Repair) |
41,975 - 7,628 750 1,000 3,000 422 |
(41,092) (2,585) (7,628) (962) (1,000) (4,506) (422) |
883 (2,585) - (212) - (1,506) - |
| 12,800 | (17,103) | (4,303) | |
| TOTAL FUNDS | 54,775 | (58,195) | (3,420) |
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 BAVO - Summer of Fun BAVO - Warm Hub Fund The Community Matters Fund (Cost of Living) TOTAL FUNDS |
At 1/4/22 £ 17,473 75,474 92,947 82,723 - - - 82,723 175,670 |
Net movement in funds £ (12,869) (1,510) (14,379) (5,170) (212) (1,506) 5,000 (1,888) (16,267) |
Transfers between funds £ 24 (1,742) (1,718) - 212 1,506 - 1,718 - |
At 31/3/24 £ 4,628 72,222 76,850 77,553 - - 5,000 82,553 159,403 |
|---|---|---|---|---|
continued...
Page 13
TALBOT COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
14. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 69,232 | (82,101) | (12,869) |
| Designated Fixed Assets | 1 | (1,511) | (1,510) |
| Restricted funds | 69,233 | (83,612) | (14,379) |
| Big Lottery Asset Fund | - | (5,170) | (5,170) |
| National Lottery (Toddler Group) | 7,628 | (7,628) | - |
| BAVO - Summer of Fun | 750 | (962) | (212) |
| BAVO - Social Isolation | 1,000 | (1,000) | - |
| BAVO - Warm Hub Fund | 3,000 | (4,506) | (1,506) |
| Pyle Community Council (Lift Repair) | 422 | (422) | - |
| BAVO Grant 2024 | 1,265 | (1,265) | - |
| Sports Foundation Grant | 500 | (500) | - |
| The Community Matters Fund (Cost of | |||
| Living) | 5,000 | - | 5,000 |
| Pyle Community Council Grant | 200 | (200) | - |
| 19,765 | (21,653) | (1,888) | |
| TOTAL FUNDS | 88,998 | (105,265) | (16,267) |
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.
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:
Big Lottery Asset Fund
This was funding in 2005 for refurbishment of the Talbot Community Centre.
BAVO Grant 2024
This was funding to support action against poverty in the local community.
Pyle Community Council
This was to help fund Halloween activities.
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Page 14
TALBOT COMMUNITY CENTRE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
14. MOVEMENT IN FUNDS - continued
Sports Foundation Grant
This was funding to support sports activities in the centre.
The Community Matters Fund (Cost of Living)
This was to support cost of living increases in the centre.
15. RELATED PARTY DISCLOSURES
During the year the following receipts and payments were given from/to Businesses and Organisations whose Owners/Directors were also Trustee/Directors of the company.
| Type of Income | Source | Related Party | Amount £ |
|---|---|---|---|
| Donation | J Gebbie | J Gebbie | 700 |
| Grant Funding | Pyle Community Council | Cllr. A John | 200 |
16. 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.
17. GOING CONCERN
Free reserves have decreased during the year, and the trustees remain aware 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 2024
| FOR THE YEAR ENDED | 31 MARCH 2024 | |
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 700 | 4,495 |
| Grants | 6,965 | 12,800 |
| Other trading activities | 7,665 | 17,295 |
| Fundraising events | - | 5,817 |
| Rent | 25,853 | 25,006 |
| Catering | - | 6,045 |
| Membership fees | 625 | 435 |
| Investment income | 26,478 | 37,303 |
| Deposit account interest | 80 | 23 |
| Other income | ||
| Other income | - | 154 |
| Total incoming resources | 34,223 | 54,775 |
| EXPENDITURE | ||
| Charitable activities | ||
| Staffing costs | 17,329 | 21,930 |
| Pensions | 165 | 172 |
| Rates and water | 685 | 782 |
| Light and heat | 4,654 | 3,577 |
| Sundry expenses | 710 | 320 |
| Repairs and renewals | 2,021 | 2,475 |
| Catering expenses | 2,816 | 5,482 |
| Postage, stationery and telephone | 822 | 1,290 |
| Activity costs | 2,225 | 10,824 |
| Sundry Equipment | 965 | 560 |
| Cleaning costs | 4,250 | 2,859 |
| Licences and subscriptions | 235 | 246 |
| Trustee Expenses | 307 | - |
| Freehold property | 821 | 821 |
| Improvements to property | 2,585 | 2,585 |
| Plant and machinery | 690 | 921 |
| 41,280 | 54,844 | |
| Support costs | ||
| Finance | ||
| Bank charges | 160 | - |
This page does not form part of the statutory financial statements
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TALBOT COMMUNITY CENTRE
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Finance | ||
| Other | ||
| Insurance | 2,143 | 1,879 |
| Governance costs | ||
| Independent Examiners Fees | 1,524 | 1,428 |
| Legal & professional fees | 1,963 | 44 |
| 3,487 | 1,472 | |
| Total resources expended | 47,070 | 58,195 |
| Net expenditure | (12,847) | (3,420) |
This page does not form part of the statutory financial statements
Page 17