Tr4RAThJfLZ dsc Registered Charity Number 1116764 Company Registered Number 05855440 ACE CARDIFF LtMTfED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JLfNE 2021
ACE CARDIFF LIMITED TRUSTEES REPORT YEAR ENDED 30 JUNE 2021 The trustees present their report and the unaudited financial ststements of the charity for the year ended 30 June 2021. OBJECTS OF THE cHARY, PRINCIPAL ACTIVITIES AND ORGAIYISATION OF WORK The company is governed by a memorandum and articles of association. The principal object of the company is the relief of those in need, by reason of youth. age, ill-health, disability. financial hardship or other disadvantage including unemploymenL primarily in Cardiff and the surrounding areas, for the public benefiL In recent times our main focus has been to work with children and adults to improve their quality of life through an appreciation of learning- whether that be through help with core skills of literacy and numeracy. improved communication skills or appreciation of reading. music and the arts. ACE CardifPs Learning Club aims to stimulats young people's enthusiasm for learning in the Butetown and Grangetown areas of Cardiff. in order that they feel more confiden( in their abilities to face the personal. academic and social challenges that life brings with it! We worK in parthership with others to make sure that our sessions are: Enjoyable Exciting Engaging It is important that we help young people to: ' solve problems . overcome confidence issues, • experiment with their learning . build relationships within and outside their communities . have a 'safe learning environment. In response to an obvious need in the community. the charity also runs a variety of mixed and single-sex ESOL classes in the Butetown, Grangetown and Ely areas of Cardiff. including refug¢¢s and asylum seekers, with the aim of assisting the process of settling in Wales and becoming economically self- sufficient. Classes of up to 10 are aimed primarily at those at Pre-Enty and Enty levels. from beginners onward. Each class has a teacher who is qualified both academically and through practical experience. In addition, a teaching assistant is also present to support the tutor and provide individual attention. The charity is organised so that the Board meet regularly to manage its affairs. All staff are engaged in charitsble activities
ACE CARDIFF LIMITED TRUSTEES REPORT (coKfiNUED) YEAR ETr4DED 30 JUNE 2021 REVIEW OF DEVELOPMErirs, ACTIVITIES AND ACHIEVEMENTS The Financial Year was dominated by the Coronavin pandemic. We continued, and expande(L he online sessions that were introduced in varly 2020. The introduction of one-to-one online reading sessions was very well received and we plan to continue these in the in tandem with our faee-to-face sessions, which we are looking to restart in the Autumn. As noted in last year's repor¢ where students had difficulty in accessing the online sessions. we have purchased and loaned them tablets and dongles. FUTURE DEVELOPMENTS The trustees continue to review the company's activities. together with other opportunities that fit with its objects, and will provide a level of support consistent with its ability to attract future funding. It is anticipated that in time. both the after-school learning support and the ESOL classes may gradually expand around our core activities and geographies. RISKS POLICY The trustees actively review the major risks that the charity faces on a regular basis and believe that ongoing reviews ofthe financial position, establishing adequate reserves, will provide sufficient resources in the event of adverse conditions. The trustees also examine other operational risks faced by the charity and have established systems to mitigate any significant risks. RESULTS The results for the year and the charity's financial position at the end of the year are shown in the attached financial ststements. The charity benefited from a couple of multi-year awards and Covid specific funding from established relationships with charitable foundations. These have put the charity in its strongest financial position for many years. The trustees are conscious that the groundwork has to continue to maintain these relationships and build new partnerships to strengthen future funding applications.
ACE CARDIFF LIMITED TRUSTEES REPORT (CONTINUED) YEAR ENDED 30 JUNE 2021 D]RECTORS Al TRUSTEES All directors of the company are also trustees of the charity and ther¢ are no other trust¢¢s. THE TRUSTEES The Trustees who served the charity during the year were as follows:_ Geoff Hollett (Chairnian) Stuart Cox (Treasurer) Helen Edgeworth Christian Holland Luay Karrar Emily Morris RESPONSIBILITIES OF TRUSTEES The trustees (who are also the directors of the company for the purposes of company law) are responsible for preparing the Trustees Annual Report and the financial ststements in accordance with applicable law and the United Kingdom Accounting Standards (United Kingdom Generally Accepted Practice). Company law requires the trustees to prepare fmancial statements for each fmancial year which give a true and fair view of the stste of affairs of the charitsble company and of the incoming resources and application of resources. including the income and expenditure. of the charitable company for that period. In preparing these financial statements, the trustees are required to; Select suitable accounting policies and then apply them consistently. • Observe the methods and principles in the Charities SORP; . Make judgements and estimates that are reasonable and prudent. . State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the fmancial statements; . Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation. The trustees are responsible for keeping proper accounting records that disclose, with reasonable accuracy at any time, the financial position of the charitable company and enable them to ensure that the financial ststements comply with the Companies Act 1985. The trustees are also responsible for safeguarding the assets of the charitsble company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
ACE CARDIFF LIMrrED TRUSTEES REPORT (COfffiNtTED) YEAR ENDED 30 Juf4E 2021 INDEPENDENT EXATrIINER 11 A resolution to appoint Gordon Down & Company Limited as independent examiner for the ensuing year will be proposed at the Annual Governance Meeting. ECLARATION This report was approved bythe board on S November 2oZI Signed on b alf ofthe charity's trustees. G Holl¢
ACE CARDIFF LIMITED INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF ACE CARDIFF LIMITED I report on the accounts of the charity for the year ended 30 June 2021 set out on pages 6 to I l. Respective Responsibilities of Trustees and Examiner The charity's trustees (who are also directors of the company for the purpose of company law) are responsible for the preparation of the accounts. The charity's tnte¢S consider that an audit is not required for this year under section 144 of the Charities Act 2011 and that an independent examination is needed. The Charity is required by law to prepare accrued accounts and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England & Wales. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examinatio it is my responsibility to: examine the accounts under section 145 of the 201 l Act. to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5) ofthe 2011 Act and to stats whether particular matters have come to my attention. Basis of Independent Examiners Report My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes considerdtion of any unusual items or disclosures in the accounts, and seeking explanations from you as tnteeS concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audiL and consequently I do not express an audit opinion on whether the accounts present a 'true and fair view,. Independent Examiners Ststement In connection with my examination, no matter has come to my attention: (i) which gives me reasonable cause to believe that in any material respect the trustees have not met the requirements to ensure that: proper accounting records are kept in accordance with section 386 of the Companies Act 2006; and accounts are prepared which agree with the accounting records, comply with the accounting requirement of the Companies Act 2006 and with the methods and principles of the Ststement of Recommended Practice: Accounting and Reporting by Charities (revised 2005): or to which. in my opinion. attention should be drawn in order to enable a proper understanding of the accounts to be reache(L (2) Signed Date l/ trL/ L.S.Cohen FCA Independent Examiner Gordon Down & Company Accountsnts Temple Court 13A Cathedral Road CardRff CFII 9HA
ACE CARDIFF LIMITED STATEMENT OF FINANCIAL ACTIVITIES (incorporating the income and expenditure aeeount) FOR THE YEAR ENDED 30 JUNE 2021 Unrestricted Restricted 2021 2020 Funds Funds Totsl Total Ineoming Resources Voluntary Income Other Income 18.439 271 23,000 41.439 271 71282 290 Total IDeoming Resources 18,710 23,000 41,710 72J72 Resources Expended Charitable Activities 29.181 18,675 47.855 49,649 49,649 Total Resources Expended 29,181 18,675 47055 Net outgoingl(incomlng) resources for the year and net ineomel(expenditure) for the year (10.470) 4,325 (6,145) 22,923 Funds brought forward 26,785 15,083 41,868 18,945 Funds carried forward 16J15 19,408 35,723 41,868
ACE CARDIFF UMITED BAIANCE SHErr AS AT 30 JUNE 202 2021 2020 Current assets C&sh at bank 46.859 46.859 63,006 63.006 Creditors: Amounts falling due within one year Net current assets Totsl assets less eurr¢nt liabilities 11,136 21.137 35,723 35,723 41.868 41,868 Net assets 35,723 41,868 Funds Genernl Unrestricted Funth Restricted Funds 16.315 19,408 3&723 26,785 15.083 41,868 The trustees are satisfied that the company is entiued to exemption from the requir¢ment to obtain an audit un(kr section 477 of the Companies Act 2006 attd that members have not ffquired the company to obtain an audit in accordance with section 476 of the Act. The directors acknowledge their responsibiliti¢S for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. The financial statements have been prepaTrd in acrdanCe with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies, regime. These financial statements are approved by the trustees on And are si on their behalf by: Geoffrey Hollett The notes on pages 8 to 11 form an integrnl part of these financial ststement&
ACE CARDIFF LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EfiDED 30 Ju 2021 l. Accounting policies Basis of accounting - These financial statements have been prepared in compliance with FRS 102. 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the 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) (Charities SORP (FRS 102)) and the Charities Act 2011. Cashflow statement- The directors have taken advantage of the exemption in Financial Reporting Standard No. I from including a cash flow statemcnt on the grounds that the company is small. Incomi'ng resources - All incoming resources are recognised when receivable and when all conditions for receipt have been met. No expenditure has been netted off incoming resources in the Statement of Financial Activities. Resources wended- costs of activities in furtherance of the charity's objects represent those costs incurred directly in connection with charitable activities. Management and administration costs comprise costs associated with managing and administering the charity and include an appropriat¢ apportionment of overheads. Funds structure - Unrestricted funds are those available for general use by the charity. Desiated funds are unrestricted funds which have been set aside by the Trustees for specific purposes. Restricted funds are those where the donor has imposed restrictions on their use.
ACE CARDIFF LIMITED NOTES TO THE FINANCIAL STATEMENTS {CoNTlED) FOR THE YEAR ENDED 30 JUNE 2021 Ineomlng Resourees Unrutri¢ted Restrleted 2021 2020 Funds Funds Totsl Totsl Voluntary In¢ome Grants and Donations Coronavirus Resillence Fund 3.000 20,000 3,000 20.000 7.000 1,439 10,000 Watcrloo Covid 19 Welsh Cx>vernment - Covid Support Adult Learning Wales Garfield Wetson 7.000 1.439 10.000 20.000 10,163 10,000 10,000 9,969 5,150 3,000 2,000 1.500 500 Waterloo Foundation Awards For All Wales Individual donations St James Place Charitsble Foundation Magdalen Hospital Association for Scirnce & Discovery Centr&£ British Science Assoiation 18,439 23,000 41,439 72,282 Other Ineome Sundry Income In*rest 19 19 252 252 285 271 271 290 Total ID¢oming Resourees 18,710 23,000 41.710 72J72
ACE CARDIFF LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2021 Resources Expended Unrestricted Restricted 2021 2020 Funds Funds Totsl Totsl Cost of Charitable Aetivities Management & Administration Costs Stsfflllg Costs Salaries 20,620 5.876 20 9,044 29,664 5.876 20 31,955 5,014 487 Tutor fees Volunteers fees and expenses 26J16 9,044 35560 37,456 Premises Costs Rent and rates 6,533 6.533 7,167 Telephone and internet Repairs and maintenance 410 410 458 64 300 364 250 474 6,833 7J07 7875 General Administrative Expenses Postage and stationery Bank charges and interest Insurance 220 220 276 430 430 424 Website and marketin8 Accountancy Office supplies 134 134 330 810 810 888 138 138 239 1,732 1,732 2.157 Other Expenses Project support Expensed equApment Event costs and venue fees 12 12 133 416 2,798 3,214 1,649 209 Training 30 30 170 458 2,798 3,256 2,161 Total Cost of Charitable Aetivltles 29,181 18,675 47055 49,649 Total Resourees Expended 29.181 18,675 47,855 49,649 10
ACE CARDIFF LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2021 Creditors: amounts falling due within one year 2021 2020 PayToII Accrued Accountancy Accrued Grant (Garfield Weston) 476 477 660 660 10.000 20,000 11,136 21,137 Payments to Trustees No Trustee received any remuneration from the Charity during the year. Fund Balances Balances at Balances at 01 July 2020 26,785 15,083 41,868 Movement 30 June 2021 Unrestricted Funds (10.470) 4.325 16,315 19.408 Restricted Funds Tot21 Charity Funds (6,145) 35,723 Ace Cardiff Limited is a private company limited by guarantee and incorporated in England and Wales Its registered office is: 113-116 But¢ Street Cardiff Bay South Glamorgan CFIO SEQ 11