REGISTERED COMPANY NUMBER: 05372962 (England and Wales) REGISTERED CHARITY NUMBER: 1116759
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2023
FOR
BRYMBO & TANYFRON REGENERATION TRUST
M. D. Coxey and Co. Limited Chartered Accountants 25 Grosvenor Road Wrexham LL11 1BT
BRYMBO & TANYFRON REGENERATION TRUST
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2023
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | ||
| Notes to the Financial Statements | 8 | to | 15 |
| Detailed Statement of Financial Activities | 16 | to | 17 |
BRYMBO & TANYFRON REGENERATION TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30TH SEPTEMBER 2023
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 30th September 2023. 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).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The vision of the Brymbo & Tanyfron Regeneration Trust is to 'raise aspirations through accessible opportunities' and to 'meet social needs through entrepreneurial activity'. The trust is registered as a regeneration and capacity building charity. The objects of the trust are clearly defined in the trust's memorandum of association, copies of which are deposited with the Charity Commission and Companies House.
Significant activities
The Trust saw an increase in its income generating resources to £380,259 (12% increase). The increase in income occurred in community room hire and government funded nursery places. Community room hire is almost back to pre-covid levels and funded nursery places increased by the number of children funded through various schemes.
Total expenditure of £385,016 (before depreciation) was an increase in expenditure of 18% compared to last year. The Trust worked hard to contain expenditure but with large rises in wages costs and increases in utilities and service costs it resulted in the trust making made a small loss (before depreciation) of just over £4,000.
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BRYMBO & TANYFRON REGENERATION TRUST
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 30TH SEPTEMBER 2023
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The Trust planned to revisit and re-prioritise the Strategic Growth Plan in 2023. We focused on maximising income through space hire and community engagement as per the strategic growth plan. Due to the economic climate, we put a hold on other activities such as the new entrance and focused on business development. We recruited two new trustees in the period bringing the number of trustees to 5.
There was a focus on financial controls with a move to the accounts package Xero, a review of rental and hire fees, increased income generation and a work on nursery debt management. The 30,000 that was ringfenced for the new entrance was reallocated to replace the front door, cover the rise in utilities and meet other increased overheads.
Community Support
The community areas include the main hall and two meeting/training rooms. All areas are available to hire across the day and evening time.
To support the community, we started a warm hub on Wednesdays which has developed into an ongoing weekly meet up for mostly older community members. We set up the Heritage Craft group which has brought together community members to create and socialise. We have also set up a community library where community members can donate and take books. The Centre was used as the venue for the Brymbo community councils Christmas lights switch on and our Christmas fair was a success. We have also supported a programme of Community Adult learning at the Centre and brought in outside partners and agencies to help community members with cost of living issues such as fuel poverty, food poverty and financial and digital inclusion.
Sports hall and meeting room hire rates started to increase this year after a post covid low. An outside container unit was converted for use as the caretaker office to free up space inside the centre.
Hill Tots House nursery
The Nursery really evolved this year, taking the new Welsh curriculum on board and embedding the curiosity approach in the setting and practice. The open plan setting has been refreshed with new paint work and flooring as well as new items, equipment and invitations used to encourage children to play and learn through the curiosity approach. A new outdoor learning space was created to offer more diverse experience for children.
Engagement through social media has increased with families who use the setting and potential families. Open days were reintroduced to show the setting to potential families.
The children's day nursery remains popular with local families. The Trust continues to provide Flying Start which is the Welsh Government's targeted early years programme for families with children under 4 years of age. The number of places available has remained steady and continues to have a positive impact on the nursery. A new nursery pricing structure was introduced from April with a variety of different options to help parents meet new working patterns.
The nursery won the runner up prize at the Wrexham Leader awards for 'Best Nursery in Wrexham'
Post office
The post office remains popular with its community users and receives very positive feedback. The cost of staffing the post office far exceeds the income generated; however, the Trust is happy to subsidise this vital service for our local community. Positive steps have been made to increase Post Office income through the sale of cards, toys, gifts and gift-wrap, snacks and drinks.
Business units (including the cafe)
Business rental occupancy remained at full capacity. All business units operating from the centre are employing staff from the local Wrexham area. Our business tenants also support a range of local and national charities.
One of our community hire spaces (training room) was rented out on a short term rent agreement, this explains the increase in rental income.
Staff
The Trust has employed an average of 19 staff which is two more than the previous year.
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BRYMBO & TANYFRON REGENERATION TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30TH SEPTEMBER 2023
The trustees would like to thank all the staff for their hard work in ensuring the past year as the Centre has adapted, continued to deliver services to a high standard and engaged more community members.
Community
The Trust is proud to continue being a key partner in the community, with close links to the Brymbo Heritage Trust and St Mary's V.A. School.
We thank our community for its continued support.
Public benefit statement
The trustees have referred to the Charity Commission's general guidance on public benefit when reviewing the current year activities and making plans for future periods and believe that they have complied with their duty to have due regard to this guidance. In particular, the Trustees have considered how all the Charity's activities contribute to the charitable objectives set down above. All of the Charity's activities focus on providing public amenities, facility's and services for the Brymbo and Tanyfron area of West Wrexham. These activities are currently provided by the provision of office accommodation to support employment in the local area, the provision of childcare and the provision of a community hall for use by local and national organisations.
FINANCIAL REVIEW
Investment policy
There are no restrictions on the Trust's powers to invest and the primary concern for trustees is that any surplus funding is invest in short-term, low risk investments.
Reserves policy
The Trust's aim is to achieve net incoming resources before depreciation, together with a net current asset position. Any surplus of funds will be used to further the aims and objectives of the Trust and its future sustainability and successful outcome.
Total reserves as at 30th September 2023 were £1,407,968 (2022: £1,456,482) of which £1,341,993 (2022: £1,359,645) is restricted. The level of general reserves available to the charity was £65,975 (2022: £96,837) as detailed in the notes to the accounts.
FUTURE PLANS
The trustees continue to consult with individuals and organisations to identify further opportunities for the delivery of activities for the benefit of the community and the further regeneration of the Brymbo & Tanyfron area.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The trust is controlled by its governing documents, the memorandum of association and articles of association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
Recruitment and appointment of new trustees
Any trustee is invited to nominate a potential new trustee that is personally known to and recommended by them. The nominee must be accepted by the majority of existing trustees.
The nominated person must be a permitted person as defined by the Charities Act and of relevant skill or knowledge to the benefit of the Brymbo & Tanyfron Regeneration Trust. Trustees are personally responsible for ensuring their skills and knowledge are maintained to a standard which encompasses changes in legislation impacting on the operational activities of the trust.
Organisational structure
The trustees who have served during the year and since the year end are set out on page 4. Trustees are subscribers to the memorandum of association and the trustees are legally responsible for the overall management and control of the charity. They hold at least twelve ordinary meetings in each year.
Decision making
The Board retains authority for the overall strategy and policy of the Trust and approves the annual Business Plan.
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BRYMBO & TANYFRON REGENERATION TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30TH SEPTEMBER 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Induction and training of new trustees
On appointment a newly elected trustee must have, as a minimum, read and accepted the memorandum of association and articles of association of the Brymbo & Tanyfron Regeneration Trust and read, understood and accepted the duties and responsibilities of a trustee as outlined in the Charity Commissions booklets CC3 - The essential trustee: what you need to know, and CC3(a) - Responsibilities of charity trustees.
Newly elected trustees must understand in detail the ethos, vision and objectives of the Brymbo & Tanyfron Regeneration Trust.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
05372962 (England and Wales)
Registered Charity number
1116759
Registered office
The Enterprise Centre Blast Road Brymbo Wrexham LL11 5BT
Trustees
A H Foster Civil Engineering R P Rogers Councillor K A Brown Local Government Officer A L Jones Community Development J R Wellens Trade Consultant (appointed 20.6.23)
Independent Examiner
M. D. Coxey and Co. Limited Chartered Accountants 25 Grosvenor Road Wrexham LL11 1BT
Bankers
The Co-operative Bank 54-56 Northgate Street Chester CH1 2HT
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on 30th July 2024 and signed on its behalf by:
K A Brown - Trustee
Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BRYMBO & TANYFRON REGENERATION TRUST
Independent examiner's report to the trustees of Brymbo & Tanyfron Regeneration Trust ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 30th September 2023.
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
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
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
-
the accounts do not accord with those records; or
-
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
-
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.
Anthony Lewis FCCA ACA The Institute of Chartered Accountants in England and Wales
M. D. Coxey and Co. Limited Chartered Accountants 25 Grosvenor Road Wrexham LL11 1BT
30th July 2024
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BRYMBO & TANYFRON REGENERATION TRUST
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30TH SEPTEMBER 2023
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies 3 Charitable activities 4 Centre activities Total EXPENDITURE ON Charitable activities 5 Office costs Staff costs Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted funds £ 3,110 296,539 299,649 113,511 217,000 330,511 (30,862) 96,837 65,975 |
Restricted funds £ - 80,610 80,610 40,840 57,422 98,262 (17,652) 1,359,645 1,341,993 |
30.9.23 Total funds £ 3,110 377,149 380,259 154,351 274,422 428,773 (48,514) 1,456,482 1,407,968 |
30.9.22 Total funds £ 9,711 326,894 336,605 140,862 230,586 371,448 (34,843) 1,491,325 1,456,482 |
|---|---|---|---|---|
The notes form part of these financial statements
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BRYMBO & TANYFRON REGENERATION TRUST
BALANCE SHEET 30TH SEPTEMBER 2023
| Notes FIXED ASSETS Tangible assets 11 CURRENT ASSETS Debtors 12 Cash at bank and in hand CREDITORS Amounts falling due within one year 13 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 14 Unrestricted funds Restricted funds TOTAL FUNDS |
Unrestricted funds £ 37,616 16,447 36,713 53,160 (24,801) 28,359 65,975 65,975 |
Restricted funds £ 1,313,555 28,438 - 28,438 - 28,438 1,341,993 1,341,993 |
30.9.23 Total funds £ 1,351,171 44,885 36,713 81,598 (24,801) 56,797 1,407,968 1,407,968 65,975 1,341,993 1,407,968 |
30.9.22 Total funds £ 1,394,928 10,674 72,055 82,729 (21,175) 61,554 1,456,482 1,456,482 96,837 1,359,645 1,456,482 |
|---|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2023 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
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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 30th July 2024 and were signed on its behalf by:
K A Brown - Trustee
The notes form part of these financial statements
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BRYMBO & TANYFRON REGENERATION TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2023
1. STATUTORY INFORMATION
The Trust is a a company limited by guarantee registered in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £5 per member.
The charity's registered numbers and registered office address can be found on page 4.
The presentation currency of the financial statements is the pound sterling (£).
2. 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.
The trustees consider that there are no material uncertainties about the Trust's ability to continue as a going concern
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.
Income from government and other grants is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably.
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.
Charitable activities
Costs of charitable activities comprise all costs identified as wholly attributable to achieving the charitable objects of the charity.
Tangible fixed assets
Fixed assets costing at least £100 are included in the balance sheet at historic cost less accumulated depreciation.
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
| Freehold property | -at varying rates on cost |
|---|---|
| Plant and machinery | -10 - 20% on cost |
| Fixtures and fittings | -10 - 20% on cost |
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.
continued...
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BRYMBO & TANYFRON REGENERATION TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30TH SEPTEMBER 2023
2. ACCOUNTING POLICIES - continued
Fund accounting
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.
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.
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
Significant judgements and estimates
In the application of the charity’s accounting policies, management are required to make judgements, estimates and assumptions about carrying values of assets and liabilities that are not readily available from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The key judgements and sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:
- Estimated useful lives and residual values of fixed assets:
The carrying value of fixed assets are reviewed each year end for indicators of impairment triggers. If such triggers exist, management would be required to carry out a formal impairment review using a discounted cash flow model to determine their value in use on a cash-generating unit basis. The value in use calculation requires management to estimate the future cash flows expected to arise from the cash-generating unit and a sustainable discount rate in order to calculate the present value.
Depreciation of tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take into account estimated useful lives used by other companies operating in the sector and actual asset lives and residual values, as evidenced by disposals during current and prior accounting periods.
3. DONATIONS AND LEGACIES
| 30.9.23 | 30.9.22 | |
|---|---|---|
| £ | £ | |
| Donations | 1,610 | 475 |
| Grants | 1,500 | 9,236 |
| 3,110 | 9,711 | |
| Grants received, included in the above, are as follows: | ||
| 30.9.23 | 30.9.22 | |
| £ | £ | |
| WCBC grants | 1,500 | 2,500 |
| WCBC rates grants | - | 6,000 |
| Sustainability & isolation grant | - | 736 |
| 1,500 | 9,236 |
continued...
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BRYMBO & TANYFRON REGENERATION TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30TH SEPTEMBER 2023
4. INCOME FROM CHARITABLE ACTIVITIES
| INCOME FROM CHARITABLE ACTIVITIES | ||
|---|---|---|
| Activity Rents received Centre activities Hall and room hire Centre activities Nursery income Centre activities Post office & sundry income Centre activities |
30.9.23 £ 99,591 42,347 218,048 17,163 377,149 |
30.9.22 £ 120,421 22,793 171,245 12,435 |
| 326,894 |
5. CHARITABLE ACTIVITIES COSTS
| Office costs Staff costs |
Direct Costs £ 149,550 274,422 423,972 |
Support costs (see note 6) £ 4,801 - 4,801 |
Totals £ 154,351 274,422 |
|---|---|---|---|
| 428,773 |
It is not possible to analyse expenditure by the nature of the activities undertaken as all take place in a common community space.
6. SUPPORT COSTS
| Office costs The amounts payable to the independent examiner were as follows:- |
Governance costs £ 4,801 |
|
|---|---|---|
| 30.9.22 | 30.9.21 | |
| £ | £ | |
| Fees for reporting on the accounts | 3,180 | 2,430 |
| Other fees | 85 | 85 |
| 3,265 | 2,515 | |
| NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets Deficit on disposal of fixed assets Government grants Bank loan interest |
30.9.23 £ 43,757 - (80,610) - |
30.9.22 £ 47,146 1,703 (69,290) 26 |
7. NET INCOME/(EXPENDITURE)
continued...
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BRYMBO & TANYFRON REGENERATION TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30TH SEPTEMBER 2023
8. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30th September 2023 nor for the year ended 30th September 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30th September 2023 nor for the year ended 30th September 2022.
9. STAFF COSTS
| Wages and salaries Social security costs Other pension costs |
30.9.23 £ 261,364 9,977 3,081 274,422 |
30.9.22 £ 220,519 7,360 2,707 |
|---|---|---|
| 230,586 |
The average monthly number of employees during the year was as follows:
| Centre staff Nursery staff No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities Centre activities Total EXPENDITURE ON Charitable activities Office costs Staff costs Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward |
ACTIVITIES Unrestricted funds £ 9,711 266,840 276,551 91,198 160,724 251,922 24,629 72,208 |
|
|---|---|---|
10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
continued...
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BRYMBO & TANYFRON REGENERATION TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30TH SEPTEMBER 2023
| 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted funds £ TOTAL FUNDS CARRIED FORWARD 96,837 11. TANGIBLE FIXED ASSETS Freehold Plant and property machinery £ £ COST At 1st October 2022 and 30th September 2023 3,217,487 89,666 DEPRECIATION At 1st October 2022 1,839,073 87,230 Charge for year 41,312 502 At 30th September 2023 1,880,385 87,732 NET BOOK VALUE At 30th September 2023 1,337,102 1,934 At 30th September 2022 1,378,414 2,436 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Prepayments 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade creditors Social security and other taxes Accruals and deferred income |
- continued Restricted funds £ 1,359,645 Fixtures and fittings £ 50,875 36,797 1,943 38,740 12,135 14,078 30.9.23 £ 14,995 29,890 44,885 30.9.23 £ 9,649 3,871 11,281 24,801 |
Total funds £ |
|
|---|---|---|---|
| 1,456,482 | |||
| Totals £ 3,358,028 1,963,100 43,757 2,006,857 1,351,171 1,394,928 30.9.22 £ 3,529 7,145 10,674 30.9.22 £ 6,309 3,438 11,428 21,175 |
|||
continued...
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BRYMBO & TANYFRON REGENERATION TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30TH SEPTEMBER 2023
14. MOVEMENT IN FUNDS
| Unrestricted funds General fund Restricted funds Building fund Flying Start TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General fund Restricted funds Building fund Flying Start TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund Building extension fund Restricted funds Building fund Flying Start TOTAL FUNDS |
At 1.10.22 £ 96,837 1,354,395 5,250 1,359,645 1,456,482 Incoming resources £ 299,649 - 80,610 80,610 380,259 At 1.10.21 £ 43,760 28,448 72,208 1,414,795 4,322 1,419,117 1,491,325 |
Net movement in funds £ (30,862) (40,840) 23,188 (17,652) (48,514) Resources expended £ (330,511) (40,840) (57,422) (98,262) (428,773) Net movement in funds £ 24,399 230 24,629 (60,400) 928 (59,472) (34,843) |
At 30.9.23 £ 65,975 1,313,555 28,438 1,341,993 1,407,968 Movement in funds £ (30,862) (40,840) 23,188 (17,652) (48,514) At 30.9.22 £ 68,159 28,678 96,837 1,354,395 5,250 1,359,645 1,456,482 |
|
|---|---|---|---|---|
continued...
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BRYMBO & TANYFRON REGENERATION TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30TH SEPTEMBER 2023
14. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Building extension fund Restricted funds Building fund Flying Start TOTAL FUNDS |
Incoming resources £ 276,551 - 276,551 - 60,054 60,054 336,605 |
Resources Movemen expended in funds £ £ (252,152) 24,399 230 230 (251,922) 24,629 (60,400) (60,400 (59,126) 928 (119,526) (59,472 (371,448) (34,843 |
Resources Movemen expended in funds £ £ (252,152) 24,399 230 230 (251,922) 24,629 (60,400) (60,400 (59,126) 928 (119,526) (59,472 (371,448) (34,843 |
|---|---|---|---|
| 24,629 (60,400 928 |
|||
| (59,472 | |||
| (34,843 |
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Building extension fund Restricted funds Building fund Flying Start TOTAL FUNDS |
At 1.10.21 £ 43,760 28,448 72,208 1,414,795 4,322 1,419,117 1,491,325 |
Net movement in funds £ (6,463) 230 (6,233) (101,240) 24,116 (77,124) (83,357) |
At 30.9.23 £ 37,297 28,678 |
|---|---|---|---|
| 65,975 1,313,555 28,438 |
|||
| 1,341,993 | |||
| 1,407,968 |
continued...
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BRYMBO & TANYFRON REGENERATION TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30TH SEPTEMBER 2023
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:
| Unrestricted funds General fund Building extension fund Restricted funds Building fund Flying Start TOTAL FUNDS |
Incoming resources £ 576,200 - 576,200 - 140,664 140,664 716,864 |
Resources Movement expended in funds £ £ (582,663) (6,463) 230 230 (582,433) (6,233) (101,240) (101,240) (116,548) 24,116 (217,788) (77,124) (800,221) (83,357) |
|---|---|---|
15. EMPLOYEE BENEFIT OBLIGATIONS
At the year end, the charity had a balance due to its defined contribution pension scheme in the sum of £715 (2022: £714).
16. RELATED PARTY DISCLOSURES
The Trust works closely with Brymbo Heritage Trust (BHT) as there are shared objectives about the regeneration of the Brymbo and Tanyfron areas to the West of Wrexham:this is reflected in there being a common trustee between BTRT and BHT: Andrew Foster. In addition, BHT rent office accommodation within the Enterprise Centre under a business tenancy, while BHT provide grounds maintenance services under contract to BTRT.
The financial activity is as follows
| 30.9.23 | 30.9.22 | |
|---|---|---|
| £ | £ | |
| Office rental received | 6,720 | 6,720 |
| Room hire & refreshments | 1,551 | 186 |
| Container hire | 1,800 | 1,650 |
| Grounds maintenance payable | 2,400 | 1,800 |
17. GUARANTEE BY MEMBERS
The company is limited by guarantee, and at the year end had 5 members (2022: 5 members). Each member has undertaken to pay £5 to the company in the event that it is wound up. The value of the guarantee at 30th September 2023 is, therefore, £25 (2022: £25).
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BRYMBO & TANYFRON REGENERATION TRUST
| DETAILED STATEMENT OF FINANCIAL ACTIVITIES | ||
|---|---|---|
| FOR THE YEAR ENDED 30TH SEPTEMBER 2023 | ||
| 30.9.23 | 30.9.22 | |
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 1,610 | 475 |
| Grants | 1,500 | 9,236 |
| 3,110 | 9,711 | |
| Charitable activities | ||
| Rents received | 99,591 | 120,421 |
| Hall and room hire | 42,347 | 22,793 |
| Nursery income | 218,048 | 171,245 |
| Post office & sundry income | 17,163 | 12,435 |
| 377,149 | 326,894 | |
| Total incoming resources | 380,259 | 336,605 |
| EXPENDITURE | ||
| Charitable activities | ||
| Wages | 261,364 | 220,519 |
| Social security | 9,977 | 7,360 |
| Pensions | 3,081 | 2,707 |
| Rates and water | 10,120 | 5,847 |
| Insurance | 7,177 | 6,966 |
| Light and heat | 25,743 | 23,042 |
| Telephone | 12,228 | 12,174 |
| Professional fees | 2,016 | 2,930 |
| Sundries | 2,159 | 1,401 |
| Purchases | 11,983 | 9,609 |
| Repairs & renewals | 26,329 | 17,632 |
| Post, stationery & advertising | 1,869 | 1,452 |
| Travelling & mileage | 6 | 29 |
| Cleaning | 6,163 | 5,424 |
| Training costs | - | 333 |
| Bad debts | - | 696 |
| Freehold property | 41,312 | 45,073 |
| Plant and machinery | 502 | 468 |
| Fixtures and fittings | 1,943 | 1,605 |
| Loss on sale of tangible fixed assets | - | 1,703 |
| Bank loan interest | - | 26 |
| PAYE interest | - | 13 |
| Bank charges | - | 58 |
| 423,972 | 367,067 | |
| Support costs | ||
| Governance costs | ||
| Accountancy fees | 3,685 | 3,265 |
| Carried forward | 3,685 | 3,265 |
This page does not form part of the statutory financial statements
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BRYMBO & TANYFRON REGENERATION TRUST
| Governance costs Brought forward Bookkeeping Total resources expended Net expenditure |
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30TH SEPTEMBER 2023 30.9.23 30.9.22 £ £ 3,685 3,265 1,116 1,116 4,801 4,381 428,773 371,448 (48,514) (34,843) |
|---|---|
This page does not form part of the statutory financial statements
Page 17