## **Company number: 5768149 Charity number: 1125120** ## **THE OLD MILL FOUNDATION** _**(A Company Limited by Guarantee and not having a share capital)**_ ## **REPORT AND FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 30 APRIL 2024** **THE OLD MILL FOUNDATION YEAR ENDED 30 APRIL 2024** ## **CONTENTS** ||_Page_| |---|---| |Trustees’ Annual Report|1 - 5| |Independent Examiner’s Report|6| |Statement of Financial Activities|7| |Balance sheet|8| |Notes to the Financial Statements|9 - 14| **THE OLD MILL FOUNDATION YEAR ENDED 30 APRIL 2024** ## **TRUSTEES’ ANNUAL REPORT** The trustees are pleased to present their annual directors' report together with the financial statements of the charity for the year ended 30 April 2024, which are also required to meet the requirements for a directors' report and accounts for Companies Act purposes. ## **Administrative Details of the Charity, its Trustees and Advisers** The Old Mill Foundation was incorporated as a company limited by guarantee on 4 April 2006. The company registered with the Charity Commission on 22 July 2008. The charity is limited by guarantee and does not have any share capital. The liability of members of the charity is limited. Every member of the charity undertakes to contribute to the assets of the charity (in the event of the same being wound up) such amount as may be required not exceeding £10. |**Company Registration No:**|5768149|| |---|---|---| |**Charity Registration No:**|1125120|| |**Registered Office:**|Meyricks Mill, Hendy|Road, Penclawdd, Swansea, SA4 3XE| |**Chair of Board of Trustees:**|Joan Jeyes|| |**Secretary:**|Sarah Clark|| |**Administrators:**|Sarah Clark|| |**Trustees:**|Christopher Clark|| ||Timothy Jones|(Resigned 16 February 2024)| ||Jonathan Knight|(Resigned 15 July 2024)| ||Lowri Collins|| ||Sarah Dow|| ||Kerry Jones|(Resigned 5 July 2024)| ||Sue Gibbons|(Resigned 5 December 2024)| ||Nerys Martin|(Appointed 22 January 2024)| |**Bankers:**|The Co-operative Bank, PO Box 250, Delf House, Southway, Skemersdale, WN8 6WT|| |**Independent Examiner:**|Ian Bowen LLB FCA,|I D Bowen & Co., Chartered Accountants| ||19 Alexandra Road, Gorseinon, Swansea, SA4 4NW|| Page 1 **THE OLD MILL FOUNDATION YEAR ENDED 30 APRIL 2024** ## **TRUSTEES' ANNUAL REPORT** ## **Structure, Governance and Management** The affairs of the charity are directed by a board of trustees who are also directors. The charity is restricted to carrying out activities within the objects set out in the Memorandum of Association. The number of trustees shall not be less than three but (unless otherwise determined by ordinary resolution) shall not be subject to any maximum. Trustees are appointed following election by members at general meetings. New trustees meet fellow trustees during the induction day. They are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role. ## **Objectives and Activities** The charity's objects are to relieve cancer sufferers by the provision of holistic and other complementary therapies. The trustees are aware of their responsibilities in ensuring that the charity delivers identifiable benefits to the public in accord with the established objectives. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. The charity achieves its objectives by undertaking permitted activities, the main activity being the provision of holistic and complementary therapy treatments supporting people living with cancer and their carers, physically and emotionally. ## **Achievements, Performance and Financial Review for year-end 30th April 2024** All of our Outreach Centres are now operating fully, however the continued impact of the COVID19 pandemic on the business of the Old Mill Foundation this year cannot be ignored or underestimated. ## **The focus of our work** Our main objectives are to provide holistic support to adults with a cancer diagnosis, their carers and families. The strategies we use to meet these objectives include:- - Providing physical support to adults affected by cancer using complementary therapies. - Providing emotional support to adults affected by cancer by telephone, online contact and individual/group activity/support sessions. - Group socials/coffee afternoons on a weekly basis. - Linking with other Cancer Support Groups. - Enhanced access to additional cancer support information. - Workshops on nutrition and health matters. - Access to and education on health products. - Ensuring quality of therapists by providing ongoing training. - Providing a warm safe and friendly environment in our centres We understand that a cancer diagnosis does not just affect the individual but also their carer’s and families. At the Old Mill Foundation we offer support to all those impacted by cancer and seek to provide support with physical health, mental health, life style choices, confidence and wellbeing. ## **How our activities deliver public benefit** Our main activities and who we help are described below. All our charitable activities remain focussed on supporting adults affected by cancer and are undertaken to further our charitable purposes for the public benefit. ## **Who used and benefited from our services?** Cancer rates in Wales are the highest of the UK nations; 10% higher than England, 2% higher than Scotland and 18% higher than Northern Ireland.* Our charity offers it’s services to the communities of South West Wales through a number of outreach centres throughout the region. In this financial year Old Mill provided support to 158 cancer sufferers (a 26% increase on last year) Page 2 **THE OLD MILL FOUNDATION YEAR ENDED 30 APRIL 2024** The age group accessing our service was from 15 years to 60+years. • 58% aged 60+ • 37% aged 41-60 • 4% aged 19-40 • 1% aged 15-18 Gender breakdown • 85% female, • 15% male. The number of complementary therapy sessions given was 1300 which is an increase of 16% from the previous year. We have also provided weekly zoom sessions including meditation and Chi Gong for those unable to attend our centres to widen our reach further. The benefits extend beyond our 158 clients to their carers, family and friends as we support them through their cancer journey helping them cope better with their situation. This in turn helps to relieve the stress and worry of loved ones and improves the wellbeing of all affected. Through our treatments and ongoing support some of our clients are able to return to work which helps build individuals confidence, often impacted due to the rigours of medical treatment, stress and fatigue. Our complementary therapies are provided by suitably qualified therapists on a voluntary basis. We offer our volunteers specialist cancer training and ongoing "on the job" training to improve skills and knowledge in order to give excellent support Volunteer levels were impacted severely by the Covid pandemic, however we have managed to rebuild numbers year on year and this year were able to deliver 16% more individual treatments. A 26% increase in clients has demonstrated the continued need for our services and Cancer Research statistics have predicted a 2% increase in incidents in the UK between 2023-2025 and 2038-2040*. Demand continues to outstrip supply. The complementary therapies on offer at our centres include: Scar Tissue Massage; Manual Lymphatic Drainage; Indian Head Massage; Aromatherapy massage; Reflexology; Reiki; Counselling; Crystal healing; Meditation; Homeopathy, Acupuncture and nutrition advice. Also admin support. Weekly coffee afternoons in each of our centres provide a supportive environment to anyone affected by cancer, offering emotional support for cancer sufferers and their carers. These sessions allow people to talk informally about their experiences and receive support and encouragement from others in similar situations. There is a relaxed atmosphere for people to exchange stories and experiences. This environment also encourages discussions about general topics, which helps relieve strain and gives time for more light-hearted conversations. Clients participate fully and these sessions also help enhance local community connections, a number of the clients attending have become Old Mill volunteers. We continue to receive referrals from local NHS sources such as GPs, Breast Care Nurses, the Lymphoedema clinic, the Radiotherapy & Chemotherapy depts., Ty Bryngwyn Hospice and various hospital doctors. We also have good relationship with other local cancer support charities from whom we receive referrals and to whom we direct people where appropriate, such as Macmillan cancer support, C.I.S.S., the Maggie centre and Tenovus. We continue to be an active part of the Swansea and Carmarthenshire Cancer Network Groups and also the "ARCH" partnership between Swansea Bay University and Hywel Dda Health Boards which seeks to engage working more closely with the Third Sector in Wales. * Cancer Research published statistics ## **Volunteers** The Old Mill Foundation is community led, volunteers are at the heart of what we do and we would be unable to offer our therapies and support or maintain our centres without their invaluable contribution. Many of our volunteers have been affected by cancer either directly or through loved ones and their feedback helps steer the organisation in the types of support it offers. In this financial year we recorded 1300 volunteer therapy sessions and over 3250 hours in client wellbeing, operational support and fundraising. In financial terms this equates to £98,865 which is 40% of our combined overall turnover. The Trustees would like to offer a heartfelt thank you to all our Volunteers who work so hard for our organisation. Page 3 **THE OLD MILL FOUNDATION YEAR ENDED 30 APRIL 2024** ## **Principal Funding Sources** The Old Mill Foundation is proud of the level of community support and community fundraising which provides a wide range of income sources and assists with operational stability. From the Friends of the Old Mill making and selling craft items to raffles, fundraisers, bucket collections the charity ethos of ‘helping itself’ remains high. Our funding strategy is reviewed at each Trustee meeting and provides clarity of financial circumstances and direction. During 2023/24 our fundraising breakdown is as follows: |•|Donations & Legacies|£60,660| |---|---|---| |•|Direct fundraising activities|£19,063| |•|Trusts & Foundations|£13,250| |•|Friends of the Old Mill|£ 4,519| ## **Financial Position** A huge effort has been made by the Old Mill to regain it’s pre-covid levels in terms of income and volunteers. The Trustees recognise the impact of the cost of living crisis on the finances with increases in costs across all areas and expenditure has exceeded income for a 2nd year in a row. |**_Unrestricted funds_**
Balance brought forward
**Net (expenditure)/income**
Transfers
Balance carried forward
**_Restricted funds_**
Balance brought forward
**Net (expenditure)/income**
Transfers
Balance carried forward|**_2024_**
**_£_**
**_2023_**
**_£_**
104,012
(16,504)
-
118,004
(13,992)
-| |---|---| ||87,508
104,012| ||945
-
-
34,495
(33,550)
-| ||945
945| A review of the operational set up of the company has been undertaken with a number of recommendations for future planning: - Consolidate operations into a smaller number of centres. - Explore new sources of funding and the potential for a separate Trading Company to generate income to be donated to the Old Mill Foundation. - Explore the maximisation of resources, for example hiring out of treatment rooms outside of Old Mill opening times. ## **Old Mill Health & Old Mill Charity Shop** During this financial year a pilot scheme has been run to establish the viability of a Health Food retail outlet. The running of a charity shop in our Haverfordwest centre has continued and provided a model for multi-use premises which will assist in future planning. Both schemes have given an insight into the pros and cons of trading as a form of fundraising and will help steer the future development of the organisation with regards to location, overheads management and operational structure. ## **Future Plans & Developments** The Old Mill Foundation founder and CEO Sarah Clark announced her intention to retire in the next financial year and has suggested a staged handover. She intends to remain available to the Old Mill as a consultant and will work as a therapist volunteer on a reduced time commitment. A new role of Charity Manager has been created and this individual will be instrumental in the future plans for the Old Mill. Page 4 **THE OLD MILL FOUNDATION YEAR ENDED 30 APRIL 2024** ## Recruitment is to begin shortly. A search has been made for a new premises and negotiations are underway to secure the preferred option of a disused public house in a large residential area 3 miles from the existing main centre. This property has been chosen as it is close to transport links, has it’s own off street parking and is large enough to allow for consolidating office, treatment rooms and community areas into one location, together with use by the planned trading company. The landlord has indicated that he is prepared to offer a ‘below market’ rent. A Business Plan has been produced and a steering committee will be created to assist the CEO and Charity Manager during this critical period. Volunteers will be recruited to assist with the transformation of the building and minimising the costs associated with the project. The trustees are satisfied that these two changes to the structure of the Old Mill are in line with our succession and sustainability objectives. The very busy centre in Llandybie will continue to operate as a second site accessible to the communities of west Wales. There is a large demand for Scar Tissue therapy and lymphatic drainage. These therapies are not available on the NHS, local private practitioners are scarce and when available the cost is outside of the reach of most individuals residing in our communities. This has been recognised as an issue by the Trustees who will investigate ways of being able to offer more of these crucial services. Our statistics have highlighted a gender imbalance with our clients, women being much more likely to seek support than men. This is contrary to the cancer incident rates where men are slightly more likely to develop cancer than women. This imbalance is seen by other cancer support organisations and statutory authorities We will investigate the barriers preventing men from seeking treatment and ways in which we can reach and encourage more men to seek support. I thought it worth highlighting this as it is quite stark in our statistics – obviously not a priority until the new place is up and running but maybe something worth keeping on the radar & maybe even trying to get some external support for. There is the much wider topic of service users compared to our community demographics but that is a larger issue again. ## **Policy on Reserves** The charity aims to maintain its level of reserves in future years to enable it to effectively undertake the charity's objectives in accordance with the terms of the foundation. ## **Accounts** The accounts are drawn up to comply with the Companies Act 2006 and Accounting and Reporting by Charities: SORP (FRS102) issued in October 2019. This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. Signed on behalf of the trustees: ~~eS <=~~ Name: Joan Jeyes Chair of Trustee Board Approved on: 28 January 2025 Page 5 **THE OLD MILL FOUNDATION YEAR ENDED 30 APRIL 2024** ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE OLD MILL FOUNDATION** I report to the charity trustees on my examination of the accounts of the company for the year ended 30 April 2024. ## **Responsibilities and basis of report** As the charity’s trustees of the company (who are 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 company'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 2011Act. ## **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 that in any material respect: - accounting records were not kept in accordance with section 386 of the Companies Act 2006; or - the accounts do not accord with such records; or - the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 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 Charities SORP (FRS102). 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. Ian Bowen LLB FCA Independent examiner 28 January 2025 I D Bowen & Co Chartered Accountants 19 Alexandra Road Gorseinon Swansea SA4 4NW Page 6 **THE OLD MILL FOUNDATION YEAR ENDED 30 APRIL 2024** ## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)** |**Notes**
**INCOME FROM**
Donations and legacies
**_Other trading activities:_**
Charity shop
Collection tins
Friends of the Old Mill
Other fundraising activities
Room hire
Other income
3
**TOTAL INCOME**
**EXPENDITURE ON**
Fundraising
Raising funds - charity shop
Charitable activities
5
**TOTAL EXPENDITURE**
**Net (expenditure)/income**
**Reconciliation of funds**
Transfers between funds
**NET MOVEMENT IN**
**FUNDS**
**RECONCILIATION OF**
**FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED**
**FORWARD**|**_Unrestricted_**
**_Funds_**
**_£_**
**_Restricted_**
**_Funds_**
**_£_**
**_2024_**
**_Total_**
**_Funds_**
**_£_**
**_Unrestricted_**
**_Funds_**
**_£_**
**_Restricted_**
**_Funds_**
**_£_**
**_2023_**
**_Total_**
**_Funds_**
**_£_**
71,786
38,061
972
4,519
15,891
342
2,200
2,000
-
-
-
-
-
-
73,786
38,061
972
4,519
15,891
342
2,200
75,185
37,799
1,545
4,533
843
-
-
-
-
-
-
-
-
-
75,185
37,799
1,545
4,533
843
-
-| |---|---| ||133,771
2,000
135,771
119,905
-
119,905| ||3,201
38,907
108,167
-
-
2,000
3,201
38,907
110,167
-
44,697
89,200
-
1,266
32,284
-
45,963
121,484| ||150,275
2,000
152,275
133,897
33,550
167,447| ||(16,504)
-
-
-
(16,504)
-
(13,992)
-
(33,550)
-
(47,542)
-| ||(16,504)
104,012
-
945
(16,504)
104,957
(13,992)
118,004
(33,550)
34,495
(47,542)
152,499| ||87,508
945
88,453
104,012
945
104,957| There were no recognised gains and losses other than those set out in the statement of financial activities above. All of the charity's income and expenditure derived from continuing activities during the above financial periods. Page 7 **THE OLD MILL FOUNDATION YEAR ENDED 30 APRIL 2024** **BALANCE SHEET** ## **Company number: 5768149** ||**_Note_**||**_2024_**||**_2023_**| |---|---|---|---|---|---| ||||**_£_**||**_£_**| |**FIXED ASSETS**|||||| |Tangible assets|7||-||190| |**CURRENT ASSETS**|||||| |Debtors|8|-||-|| |Cash at bank and in hand||92,972||107,315|| |||92,972||107,315|| |**Creditors**: amounts falling due within one year|9|(4,519)||(2,548)|| |**NET CURRENT ASSETS**|||88,453||104,767| |**TOTAL NET ASSETS**|||88,453||104,957| |**CHARITY FUNDS**|10||||| |Unrestricted income funds|||87,508||104,012| |Restricted income funds|||945||945| |**TOTAL FUNDS**|||88,453||104,957| For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 A relating to small companies. Approved by the trustees and signed on their behalf by: Signed Joan Jeyes, Chair of Trustee Board Approved on : 28 January 2025 The notes on pages 9 to 14 form part of these financial statements. Page 8 **THE OLD MILL FOUNDATION YEAR ENDED 30 APRIL 2024** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024** ## 1 **ACCOUNTING POLICIES** The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows: ## _**Basis of preparation**_ The financial statements have been prepared in accordance with the Charities SORP (FRS102) - 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The Old Mill Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. ## _**Going concern**_ The Trustees have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. The trustees have made this assessment in respect to a period of at least one year from the date of approval of these financial statements. The charity has adequate cash reserves which are being actively monitored and managed and the trustees believe that these actions have secured the immediate future of the charitable company for the next 12 to 18 months and that on this basis the charity is a going concern. ## _**Income recognition policies**_ All income is included in the Statement of Financial Activities when the charity is legally entitled to the income and can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: - Voluntary income is received by way of donations and is included in full in the Statement of Financial Activities when receivable. - Investment income is included when receivable. - Income from charitable trading activity are accounted for when earned. - Revenue grants are included in the SOFA when the charity is legally entitled to them. - Capital grants are capitalised and amortised over the same period as the asset to which they relate. ## _**Fund accounting**_ Funds held by the charity are either: _Unrestricted general funds:_ these are funds which are available to spend on activities that further any of the purposes of the charity. _Designated funds:_ these are unrestricted funds which the trustees have decided at their discretion to set aside to use for a specific purpose. _Restricted funds:_ these are funds which the donor has specified are to be solely used for particular areas of the charity's work or for specific artistic projects being undertaken by the charity. ## _**Expenditure and irrecoverable VAT**_ All expenditure is included on an accruals basis and is recognised when there is a legal or constructive obligation to pay for expenditure. Certain expenditure is directly attributable to specific activities and has been included in those cost categories with the exception of staff costs which is apportioned on the basis of time spent on activities. The company is not registered for VAT and accordingly expenditure is shown gross of irrecoverable VAT. Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. Page 9 **THE OLD MILL FOUNDATION YEAR ENDED 30 APRIL 2024** ## _**Tangible fixed assets**_ Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Fixtures and fittings - 20% Straight Line - Computer equipment 25% Straight Line ## _**Debtors**_ Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## _**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. ## **Operating Leases** Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the income and expenditure account on the straight line basis over the lease term. ## 2 **LEGAL STATUS OF THE FOUNDATION** The Old Mill Foundation is a company limited by guarantee and has no share capital. In the event of the charitable company being wound up, the liability in respect of the guarantee is limited to £10 per member of the charity. The company is registered in England and Wales and the company's registered number and registered office can be found on page 1 in the administrative details. ## 3 **INCOME FROM DONATIONS AND LEGACIES** |Treatment Donations
General donations
HMC Gift Aid
Legacy
The Albert Hunt Trust
Edgar E Lawley Foundation
Weslyan Winter Giving
Local Giving Fund
Hospital Saturday Fund|**_Unrestricted_**
**_funds_**
**_£_**
**_Restricted_**
**_funds_**
**_£_**
**_2024_**
**_Total_**
**_funds_**
**_£_**
**_Unrestricted_**
**_funds_**
**_£_**
**_Restricted_**
**_funds_**
**_£_**
**_2023_**
**_Total_**
**_funds_**
**_£_**
17,511
21,127
4,838
18,810
5,000
2,000
2,000
500
-
-
-
-
-
-
-
-
-
2,000
17,511
21,127
4,838
18,810
5,000
2,000
2,000
500
2,000
13,131
16,529
476
45,049
-
-
-
-
-
-
-
-
-
-
-
-
-
-
13,131
16,529
476
45,049
-
-
-
-
-| |---|---| ||71,786
2,000
73,786
75,185
-
75,185| 4 **RAISING FUNDS** |Charity shop expenditure|**_Unrestricted_**
**_funds_**
**_£_**
**_Restricted_**
**_funds_**
**_£_**
**_2024_**
**_Total_**
**_funds_**
**_£_**
**_Unrestricted_**
**_funds_**
**_£_**
**_Restricted_**
**_funds_**
**_£_**
**_2023_**
**_Total_**
**_funds_**
**_£_**
38,907
-
38,907
23,820
13,439
37,259| |---|---| ||38,907
-
38,907
23,820
13,439
37,259| Page 10 **THE OLD MILL FOUNDATION YEAR ENDED 30 APRIL 2024** ## 5 **ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITIES** |**_Costs directly allocated to activities_**
Staff costs
Therapist expenses
Salon consumable supplies
Cleaning
Printing, postage and stationery
Computer costs
Telephone
Advertising
Rent
General expenses
Donations
Training
Travelling
Insurance
Equipment expensed
Depreciation
PayPal
Charity checkout
Zoom
Cancer active
Lease of equipment
Enthuse
Hall/stand hire
**_Total costs_**
**_Governance_**
Independent examiner’s fee
Payroll services
**_Total governance costs_**
**_Total expenditure on charitable_**
**_activities_**|**_Unrestricted_**
**_funds_**
**_£_**
**_Restricted_**
**_funds_**
**_£_**
**_2024_**
**_Total_**
**_funds_**
**_£_**
**_Unrestricted_**
**_funds_**
**_£_**
**_Restricted_**
**_funds_**
**_£_**
**_2023_**
**_Total_**
**_funds_**
**_£_**
76,866
-
803
786
1,030
486
1,448
532
16,787
1,602
-
1,625
924
841
-
190
-
-
156
36
998
548
265
-
-
-
-
-
-
-
-
-
-
-
2,000
-
-
-
-
-
-
-
-
-
-
76,866
-
803
786
1,030
486
1,448
532
16,787
1,602
-
3,625
924
841
-
190
-
-
156
36
998
548
265
47,915
994
1,025
762
642
242
1,283
1,575
13,192
3,864
11,000
1,375
168
835
106
318
16
584
170
36
998
-
-
20,439
-
-
-
-
-
-
-
10,420
-
-
940
396
-
-
-
-
-
89
-
-
-
-
68,354
994
1,025
762
642
242
1,283
1,575
23,612
3,864
11,000
2,315
564
835
106
318
16
584
259
36
998
-
-| |---|---| ||105,923
2,000
107,923
87,100
32,284
119,384| ||2,100
144
-
-
2,100
144
2,100
-
-
-
2,100
-| ||2,244
-
2,244
2,100
-
2,100| ||108,167
2,000
110,167
89,200
32,284
121,484| 6 **ANALYSIS OF STAFF COSTS AND TRUSTEE REMUNERATION AND EXPENSES** |Wages and salaries
Social security costs
Pension|**_2024_**
**_£_**
**_2023_**
**_£_**
98,417
-
244
94,666
-
31| |---|---| ||98,661
94,697| No employees had emoluments in excess of £60,000 (2023 - Nil). The charity trustees were not paid nor received any other benefits from employment with the charity in the year (2023 - £Nil) neither were they reimbursed expenses during the year (2023 - £Nil). No trustee received payment for professional or other services supplied to the charity. The key management personnel of the charity comprise the trustees and administrators. The total employee benefits of the key management personnel of the charity were £12,896 - (2023 - £18,818). Page 11 **THE OLD MILL FOUNDATION YEAR ENDED 30 APRIL 2024** ## **Staff numbers** |The average number of employees (including casual and part time staff) during the year
was:-
7
**TANGIBLE FIXED ASSETS**
**_Fixtures,_**
**_Fittings &_**
**_Equipment_**
**_£_**
**Cost or valuation**
At 1 May 2023
12,802
At 30 April 2024
12,802
**Depreciation**
At 1 May 2023
Charge for the year
12,767
35
At 30 April 2024
12,802
**Net book value**
At 30 April 2024
-
At 30 April 2023
35
8
**DEBTORS**
Other debtors
Prepayments
9
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Taxation and social security
Other creditors and accruals|The average number of employees (including casual and part time staff) during the year
was:-
7
**TANGIBLE FIXED ASSETS**
**_Fixtures,_**
**_Fittings &_**
**_Equipment_**
**_£_**
**Cost or valuation**
At 1 May 2023
12,802
At 30 April 2024
12,802
**Depreciation**
At 1 May 2023
Charge for the year
12,767
35
At 30 April 2024
12,802
**Net book value**
At 30 April 2024
-
At 30 April 2023
35
8
**DEBTORS**
Other debtors
Prepayments
9
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Taxation and social security
Other creditors and accruals|**_2024_**
**_2023_**
11
11| |---|---|---| |||**_Computer_**
**_Equipment_**
**_£_**
**_Total_**
**_£_**
3,248
16,050| ||12,802|3,248
16,050| ||12,767
35|3,093
155
15,860
190| ||12,802|3,248
16,050| ||-|-
-| ||35|155
190| |||**_2024_**
**_£_**
**_2023_**
**_£_**
-
-
-
-| |||-
-| |||**_2024_**
**_£_**
**_2023_**
**_£_**
595
3,924
417
2,131| |||4,519
2,548| Page 12 **THE OLD MILL FOUNDATION YEAR ENDED 30 APRIL 2024** ## 10 **ANALYSIS OF CHARITABLE FUNDS** ## **Analysis of movement in unrestricted funds - current year** |||**_1 May_**|**_Incoming_**|**_Funds_**|**_Transfers_**|**_30April_**| |---|---|---|---|---|---|---| |||**_2023_**|**_funds_**|**_used_**||**_2024_**| |||**_£_**|**_£_**|**_£_**|**_£_**|**_£_**| |General fund||104,012|133,771|(150,275)|-|87,508| |Total||104,012|133,771|(150,275)|-|87,508| |**Analysis of movement in unrestricted funds - prior year**||||||| |||**_1 May_**|**_Incoming_**|**_Funds_**|**_Transfers_**|**_30 April_**| |||**_2022_**|**_funds_**|**_used_**||**_2023_**| |||**_£_**|**_£_**|**_£_**||**_£_**| ||||||**_£_**|| |General fund||118,004|119,905|(133,897)|-|104,012| |Total||118,004|119,905|(133,897)|-|104,012| |**Name of unrestricted fund**|**Description, nature and purposes of the fund**|||||| |_General fund_|The ‘free reserves’ after allowing for all designated|||funds.||| |_._||||||| |**Analysis of movement in restricted funds - current year**||||||| |Big Lottery - Community Fund
Community Fund Awards For All
Hospital Saturday Fund
**Total**
**Analysis of movement in restricted funds - prior year**
Big Lottery - Community Fund
Community Fund Awards For All
Moondance Foundation
**Total**|**_1 May_**
**_2023_**
**_£_**
**_Incoming_**
**_funds_**
**_£_**
**_Funds_**
**_used_**
**_£_**
**_Transfers_**
**_£_**
**_30 April_**
**_2024_**
**_£_**
568
377
-
-
-
2,000
-
-
(2,000)
-
-
-
568
377
-| |---|---| ||945
2,000
(2,000)
-
945| ||**_1 May_**
**_2022_**
**_£_**
**_Incoming_**
**_funds_**
**_£_**
**_Funds_**
**_used_**
**_£_**
**_Transfers_**
**_£_**
**_30 April_**
**_2023_**
**_£_**
31,823
1,406
1,266
-
-
-
(31,255)
(1,029)
(1,266**)**
-
-
-
568
377
-| ||34,495
-
(33,550)
-
945| ## **Name of restricted fund Description, nature and purposes of the fund** Hospital Saturday Fund This grant was used to pay training costs. Big Lottery - Community Fund This grant was received to fund setting up a day’s outreach at Narbeth Centre and to further develop Port Talbot Centre. Community Fund Awards for all This grant is utilised for the Old Mill Goes Digital project. Moondance Foundation This grant was used to pay staff wages. Page 13 **THE OLD MILL FOUNDATION YEAR ENDED 30 APRIL 2024** ## 11 **ANALYSIS OF NET ASSETS BETWEEN FUNDS** |**Analysis of net assets between funds**- current year
Tangible fixed assets
Cash at bank and in hand
Creditors due within one year
**Analysis of net assets between funds**- prior year
Tangible fixed assets
Cash at bank and in hand
Creditors due within one year|**_Unrestricted_**
**_funds_**
**_£_**
**_Restricted_**
**_funds_**
**_£_**
**_Total_**
**_£_**
-
92,027
(4,519)
-
945
-
-
92,972
(4,519)| |---|---| ||87,508
945
88,453| ||**_Unrestricted_**
**_funds_**
**_£_**
**_Restricted_**
**_funds_**
**_£_**
**_Total_**
**_£_**
190
106,370
(2,548)
-
945
-
190
107,315
(2,548)| ||104,012
945
104,957| ## 12 R **ELATED PARTY TRANSACTIONS** Sarah Clark is regarded as related parties to the Foundation by virtue of their being administrator and providing services to the Foundation. Amounts payable to the above during the year are as follows:- ||**2024**|**2023**| |---|---|---| ||**£**|**£**| |Sarah Clark:||| |Staff costs (Gross salary)|12,896|18,818| |Rent|5,700|5,400| The above amounts are included in total resources expended in the statement of financial activities. ## 13 **LEASING COMMITMENTS** The future minimum operating lease commitments are as follows: |Within one year
Between one and five years|**2024**
**£**
**Land &**
**buildings**
**2024**
**£**
**Equipment**
**2023**
**£**
**Land &**
**buildings**
**2023**
**£**
**Equipment**
8,600
17,667
-
-
8,600
25,667
749
-| |---|---| ||26,267
-
34,267
749| ## 14 **CONTROL OF THE CHARITABLE COMPANY** There is no individual controlling party as the charity is managed by a Board of Trustees as detailed on page 1. Page 14