Charity rngistration number 1126105 Company registration number 05505791 (England and Wales) YNYSYBWL REGENERATION PARTNERSHIP ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
YNYSYBWL REGENERATION PARTNERSHIP CONTENTS Page Chairman's statement Trustees. report Independent examinefs report 10 Statement of financial activities 11 Balance sheet 12-13 Notes to the financial stalements 14-27
YNYSYBWL REGENERATION PARTNERSHIP CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 JULY 2024 Ynysybwl Regeneration Partnership IYRP} is a small community organisation covering the ward of Ynysybwl and Coed-y-cwm. It is a registered Charity and a not-for-profit company. We make annual retums lo Companies House. No DirectorlTrustee, nor the Cotnpany Secretary, nor the Treasurer receive any financial reward. All activities of the directors and Offir$ is voluntary. YRP directorsftruslees receive regular reports on all aspects of the organisalions. work as well as maintaining proper oversight of all our legal and financial responsibilities. Ensuring strong governance is fundamental in the delivery of all our projects. The focus for year seven of Create Your Space has been the continued development of each of the work streams associated with The Vision for the Valley.. Community involvement; Butchers Pool- Visitor Centre,. Trails and Paths.. Hub- Services for young people., Health and wellbeing activities and the development of digital and online presence, as well as ensuring setvices for young people and heallh and wellbeing aGtivitie5 continue to be avalable to the community. This engagement ensures close ts'es to our comrnunity. Year Seven also sees the development of the final part of the capital Vision - the Hub. This entailed working with an architect and undertaking a Tender process to appoint a contractor, building began in May 2024 and we will be open in Spring 2025. giving us the opportunity to provide more in the community, making Ynysbwl an even better place to live. We have delivered on all our other projects throughout the year including Children in Need, RCTCBC Levelling Up Shared Prosperily, Communrty Facilrties Programme, RCT Winler Warmer and the Welsh Churches Act Fund. Our mission is community involvement and strong partnership5. and we would like to thank the following groups and organisation who continue lo support and help shape the work of the organisation. Ynysybwl Enterprise Project Local Mountain Bikers Roberttown Road Runners Clydach Stream Ynysybwl Community Centre Natural Resource Wales Welcome to Our Woods Clydach News stieam Keep Wales Tidy Game On Friends of Butcher5 Pool Walk and Talk Ynysybwl Community Council cvS RCTCBC- various depts Intedink New Road Allotment Society RHA Trerobart Primary School Zion Chapel Emma Musgrave Dated. ..2.qlS/..L5
YNYSYBWL REGENERATION PARTNERSHIP TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 JULY2024 The trustees present their report and financial statements for the year ended 31 July 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's govemin9 document, the Companies Act 2006 and "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 1021 (effective 1 January 2019)" Objectives and activities The promotion for the benefit of the public of urban or rural regeneration in areas of social and economic deprivation and in the electoral ward of Ynysybwl and Coe&y-Cwm. These details are sel out in our Memorandum and Articles of Association. The main activities undertaken in relation to Ihe objectives of the charity are noted throughout the report. Vision Together we have and will re-imagine Ynysybwl as a green. sustainable and highly nehvorked valley with an emphasis on community owned assets. businesses and actNlties. Social and Economic context Ynysybwl lies in a small valley. five miles north of Pontypridd and stands al a southem 'gateway' into the St Gwyllno Forest, one of the largest forests in Wales. The village sils within a51oundingly beautrful countryside alongside a small river valley. It is situated in the Cynon Valley and borders Rhondda Fach. This was a mining community and. typically. it now suffers ilkheallh. low skill levels among school leavers and young aduhs. and Ihe poorest in the community describe a sense of disconnection from mainstream society. he way we work RP will be a catalyst for positive change by.. Faalilaling Enabling Connecting Involwng Engaging ur values Openness Honesty Collaboration Integrity Ccpoperation Inclusive Purpose of Ynysybwl Regenerdtion ParthehIp Ynysybwl Regeneration Partnership is a development trust. a registered charity and company limited by guarantee. The trust aims are to raise the quality of life for all- create opportunities for young people,. create opportuntties in health and well-being. as well as to help develop the local economy, particulady countryside access and tourism. The change Ihat YRP wants to lead is for the communilies of Ynysybwl and Coed Y Cwm to.. Encourage more activty within the communities and make better use of the natural environments surrounding Ihe area. Have a stronger Vol that influenS and iv)forTns the design of selv15 locally. Ensure Ynysybwl and Coed y Cwm are inclusive communÉties that provide support and welcome those hard_to-reach individuals into local community aclivity Develop and take on community assets that engage individuals and groups in activities and opportunities that enhance learning. employment, health and well-being. Offer support and help build the capactty of community groups and individuals to make them more effective and sustainable and help improve lives. The trustees have paid due regard to guidance issued by the Charity Commission in deading what activities the charity should undertake.
YNYSYBWL REGENERATION PARTNERSHIP TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 JULY 2024 Achievements and perfomian¢e Our base and other venues As an organisation. we have several assels where we facilitate local acliwties. We operate from 20 Windsor Place. We offer lots of opportunities throughout the community. utilising local assels. At Butchers Pool, the Hub sile and our community allotment in New Road. we facilitate enviionmenlal activities bringing improvements to the local area. Caban Guto is the heart of the U3nwynno forestry and is a wonderful provision that provides a stop off place for visitors. offering infomiation on the local paths, trails and history, and provides refreshment5 and toilet faciltties. Our slaff facilitate sessions and training opportunities for volunteers who actively contribute to making all these assets a success, ensuring that they continue to offer Ynysybwl and surrounding areas adivities that enhan health and wellbeing. Create Your Space- funded by the Community Lottery fund and Welsh Government Dormant accounts Community involvemenl and being led by the community is a cA)re elhos of the organisalion. We have continued to consult with the community during the construction phase of Ihe Hub and deliver activib.es in the community induding youth dub, play group, after school dub and green aGtivities. Volunteers continue to successfully deliver YRP'S community assets.. Caban Guto Visitor centre- this has been a huge success and volunteers have worked hard to deliver a valuable service to the wider mrnunty of Llanwynno and surrounding areas. A wholly volunteer led facilty it operates three days a week. Wednesday. Saturday and Sunday. offering a homemade menu, a warm welcome and informalion on the surrounding area. The Caban has attracted over 6.OOD visits this year. We have supported Friends of Butchers pool in partnership with RCTCBC to open Ihe paddling pool. Together we were able to offer children and Iheir families this free facility. During the Summer opening 2023 over 2,000 visits was made to the pool. Ynysybwl and Coed Y Cwm Community Council and RCTCBC Shared Prosperity fund provided funding to cover the running costs of the provision. and we were able to employ a local person for Ihe 6 weeks of the Summer season. Five parent volunteers have begun to work with our youth club and have undertaken training including safeguarding. We Continue to deliver Taste stations. where we offer free healthy snacks, smoothies and treats. at Butchers Pool and at youth club. This is much appreciated especialty as families face the cost-of-living crisis. 255 individuals enjoyed trying new things at the Taste Station during Summer 2023. The Hub - afler holding a tendering prOsS a conlractor was appointed in March 2024. with nSIrltIon starting soon after. The Hub is due to open in Spring 2025 and has been made possible by funding from The Big Lottery. Create Your spa Fund. Welsh Government Dormant Accounts, the CoTnmunily Facilities Programme and the Welsh Churches Act Fund. We continue to have conversations wilh the community about the Hub, 12 FOGUS Groups have been held which will inform the Hub's programme. Volunteering 3,891 volunteering hours contributed to running Caban Guto, Butchers Pool, Youth Club, Aftei school club and Tiddlywinks. Young people continue to volunteer at the Taste Stab"Dn and undertake litter picks. Youth sep4ices - funded by Children in Need Facilitation of 39 weeks of youth provision Supported over 30 Children and young people weekly, who aclively engage in Ihe design and developmenl of their youth provision. 202 young people have engaged our services. RCTCBC Winter Wanner Grant January - March 2024 Cosy Corner- providing after school acb'vilies for children and caiegivers induded hot snacks and drinks. Cosy packs distributed to the community included hot water bottles, flasks. blankets etc. There were 87 individual vistts to Cosy Comer and 184 packs distributed.
YNYSYBWL REGENERATION PARTNERSHIP TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 JULY2024 RCTCBC Shared Prosperity middle level award Funding towards two posts that will develop the Hub young people. children and family centre. 679 individuals have been engaged with participating in activities including toys from trash and making terrariums. Our environmental impact The environment is an important part of all our work with a major focus on environmental activities facilitated actOS5 venues in the community. We have taken steps to ensure that we play our part as an organisalion. working hard to reduce our carbon footprint. We actively ensure thal all our activities reflect our attempts al reducing our carbon foolprint and work hard to reduce the amount of rubbish that goes to landfill. Our work has a strong environmental focus. and we Lrtilise the numerous outdoor spaces in Ynysybwl to enhance the biodiversity of the village. We hold regular green activities at Butchers pool. our hub site and our community allotmenl. We promote active travel encouraging more peop to access the natural environment surrounding Ynysybwl. We have recognised that many people do not have the confidence to access some of these spaces and have installed way-markers. and signposted routes in Ynysybwl to make them more accessible. Our current work Economic development and sustainable income generation Key Objective Interventions ource of nding CYS Lottery 44K Communities Facilities Programme WG £144,680 Potenlial sale o ndsor Place 100K Secured Shared Prosperity for o posts to develop activities on the Bwth site. 49.500 hen Key infonnation Development of he Hub sile at Slalion yard, Indsor Pla Full planning permission secured March 2023 enders completed by Jan 2023 Contractor ppointed March 2024 Development on site May 2024 YRP ongoing Tender PrOs$ Jan 2024. Contractors, appointed March 2024 ork began May 2024 Expected to open Spring 2025 elsh Churches ct Fund 50.000
YNYSYBWL REGENERATION PARTNERSHIP TRUSTEES. REPORT {CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 JULY 2024 er4ice5 for children and young people Support Friends of Provide ongoing Friends of Butchers Pool in support to Friends Butchers pool elivery of paddling of Butchers pool. undertake ool serviGes ongoing fundraising locally to fund pool. Supported FofBP lo secure nding from RCTCBC Shared Prosperty evelling up fund. Friends of Bulchers pool and YRP ongoing Ensure strong orking partnership established with Friends of Butchers pool and RCTCBC. Children. young people, and their families can continue to access this service. Partner to delive aste Station at he pool. Game On provided summer activities or the pool for the Irsl time and was ery successful outh Provision RP is now the Ok to run RP ongoing 11111 YRP delivers a eekiy youth club and continues to support YEP by providing craft activities at their events induding the annual festival. Youth workers are orking with Young People to prepare for the youth clubs. relocation to the Hub site. grant holder for Children in Need undin9 outh provision ver the next ears Enterprise Caban Guto operating successfully and sustainabty Self sufficient RP ongoing Continued support o volunteers in developing the Caban further. Support from NR o relocate the Caban lo a more acce55ible site hich will enable extended opening hours 2nd a variety of activities to be delivered. 111
YNYSYBWL REGENERATION PARTNERSHIP TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 JUL Y 2024 Health and well being Caban Guto Volunteers successfully operating Caban Guto. Ensure ongoing training or volunteers. Income generation rom café sales YRP ongoing Become a 5elf-suslaining social enterprise ith the aim of creating local employment, raining and access o heahh and ell-being as well as a tourbst ventje. outh Club and Tiddlywinks eekly session5 provide pportunities for people to socialise and fomi supportive neOrs. Promotion and communication Oigilal platfomi and digital support o enhance an online presen hat connects all elements of Ihe project to promote nysybwl. o upskill mmunity members to access servi(Es nline Shared Prosperity RP ongoing 98 /0 of respondents indicated that their ellbeing had improved through partiapalion in YRP activities. Explore Ilèmalive unding RP ongoing Long tem aim is lo ensure all the wo of the organisalion is interconnected and offers the best experience to individuals for improved access lo all services. Continue to horizon scan for funding opportunities. A new page has been developed for the ebsite promoting he Village, Butchers Pool and he forestry to visitors attending the National Eisteddfod taking place in Ponlypridd (Aug 2024} where local walks have been digitised.
YNYSYBWL REGENERATION PARTNERSHIP TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 JULY 2024 Financial review The charty made a surplus for the year ended 31 July 2024 of £180.701 {2023: £62,391 deficit), this can be seen to be split betsveen an unrestricted surplus of £66,780 {2023.' £79 surplus) and a restricted Sufplus of £113.921 (2023.. £62,47Q deficit). Reseryes Policy As a charity we must ensure that we have enou9h money to sustain the organisation's activtties. We recognise that as a Sma chanty the level of reseprfes ShOd reflect the level of activty of the organisation. Our free reserves for the financial year are £47,210, made up of unrestricted funds less fixed assets and designated funds (2023: £37.553) aNJ is at an adequate level to ensure we can maintain the running of the office. We feel confident that this level of free reserves is suffirierrt for our Gurrent needs. This will be revTrewed in the new fiscal year as the organisatK)n grows. Key sources of funding for this period Grants Create Your Space Grant- The Communty Lottery Fund & WG Domant Accounts Levelling up RCTCBC Shared Prosperity low level and middle level award Community Facilities Programme Welsh Churches Ad Fund Children in Need Totsl grants received - £313.649 Plans for future period5 As Create Your Space moves into ils final year, we will focus our efforts on the development of tke Hub as a space specrfically for ¢hildren and young people as well as finalising many of the work streams within the programme. We will continue to deliver on our projects. collating eden from our work and through consultation with the community- Collaboration and listening to the communty are fundamental to the continued success of the project and we ensure opportunilies are readily available f(x indiwduals to engage with us. We will collaborate wilh local cotnmunity groups to bring in further fvnding to build their Gapacity and support the development of more activities locally. This project is run by local people and local groups and is open to anyone who would like to get involved and bring about change in the communty. Want to get involved contact Hayley Fidler on 01443 799365 or le .wales
YNYSYBWL REGENERATION PARTNERSHIP TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 JULY2024 Structure, governance and management For the Teporting period the organisalion has been managed and run by the Trustees. Governing Document Ynysybwl Regeneration Partnership goveming document is the Memorandum and Artides of Association set out at incorporation on 12th July 2005. Decision making During the reporting. the Trustees oversaw the governance of Ihe organisation ¥Mlh delegaled responsibility lo the Programme Manager in the day-t04Jay management of the Create Your Space project. Induction training for directorsl trustees New directors1 Iruslees will re1ve an induction pack, a handbook with all policies and procedures adopted by the board and an induction from the Chair and Company Secretary. Partners YRP continues lo collaborate with Partners to facilitate and deliver its vision. Together we continue to involve, consult. and engage with the wider community to further develop and deliver a 'Wision for the Valley., Reserves Policy As a charity we must ensure that we have enough money lo sustain the organisalions, aclivtties. We recogni5e that as a small charity the level of reseNes should reflect the level of activity of the organisation. Chair." Emma Musgrave Director of an enterprrse charity. with focus on developing enterprise in roups within neglected communities. Community Regeneralion consultant., Director of CREW and over 30 ears. experien of community development and working in the housing ector. IT Consultant and Chair of Friends of Butchers Pool Chair of the Royal British Legion local branch.. former armed Senior Non-commissioned Officer and Director of a Welsh veterans, charty., Community Regeneration consultant with over 30 years. experience of workin in communi development and the housin sector. Roberttown Road Runners. Friends of Butchers Pool. 30 years, experien of WOTking in Ihe NHS and as a local councillor in the Caetphilly Borough. Forces Veteran. helicopter technician, volunteers with Ynysybwl Enterprise Partnership, Butchers Pool. Cabam Guto. British Le rustee.. Barbara Castle OBE. ruslee.. Clive Thomas iuste8.' Arfon Williams Secretary.. Steve Curry Trustee.. Elaine Hicks Truslee.- Chay Binks ion.
YNYSYBWL REGENERATION PARTNERSHIP TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 JULY 2024 ReferenGe and administrative delails Charity name Ynysybwl Regeneration Partnership Charity number 1126105 Company number 05505791 Registered office 20 Wndsor Place Ynysybwl Pontypridd Mid Glamorgan CF37 3HR Trustees Barbara Castle OBE Cllr Susan Pickering - Resigned 19 September 2023 Clive Thomas Arfon Williams Gwenfron Hicks Rev Eryl Elisabeth Williams- Resigned 8 August 2023 Emma Musgrave Clifford Binks - Appointed 1 December 2023 stephen Curry Richard Flowerdew - Resigned 20 February 2024 Key management personnel Hayley Fidler- CEO Company secretary stephen Cuny Bankers Lloyds Bank 25 Gresham Street London EC2V 7HN Independentexaminers Azets Audii Servies Ty Dewi Lime Tree Court Cardiff Gate Business Park Cardiff CF23 8AB The trustees, report was approved by the Board of Tnjstees. Emma Musgrave Dated. 2q/C/.L.S...
YNYSYBWL REGENERATION PARTNERSHIP INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF YNYSYBWL REGENERATION PARTNERSHIP I report to the trustees on my examination of the financial statements of Ynysybwl Regeneration Partnership (the charity> for the year ended 31 July 2024. Responsibilities and basis of report As the truslees of the charity (and also tts directors for the Purposes of company law} you are responsible for the preparation of the financial statements in accordan With the requirements of the Companies Act 20C6 (the 2006 Act). Having satisfied myself that the financial statements of the charty are not required to be audttLNd under Part 16 01 the 2006 Act and are eligible for independenl examination, I feport in respect of my examination of the charity's financial statements carried oul under section 145 of the Charth-es Ad 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145{5){b) of the 2011 Act. Independent examinerfs statement Since the charity's gross income exceeded £250.000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of 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 that in any material respect- accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act." or the financial stalemenls do not accord with those records.- or the financial statements 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 financial slatements have not been prepared in accordance with the methods and principles of the Statement of Recommended practi for accounting and reporting by charilies applicable to charities preparing their accounts in acc(Jrdance with the Financial Reporting Standard applicable in the UK aTrJ Republic of Ireland (FRS 102). I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in tftis report in order to enable a Proper understanding of the financial statements to be reached. Andrew Howells Azets Audit Services TyDe Lime Tree Court Cardiff Gate Business Park Cardiff South Glamorgan CF23 8AB United Kingdom Daled.. 10-
YNYSYBWL REGENERATION PARTNERSHIP STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 JULY2024 Unrestricted Restricted funds funds Total Unrestricted Restricted funds funds Total as restated 2023 2024 2024 2024 2023 2023 Notes ncom an ments fr Donations and legacies Charitable aclivilies Other income 395 308,806 395 322.238 1.591 16,127 200 1,591 159,656 200 13.432 143,529 Total income 13.432 309,201 322.633 17.918 143,529 161,447 Charitable activities 18,288 123.644 141,932 49.510 174,328 223,838 Net {outgoingllincoming resources before transfer5 {4.856) 185,557 180,701 (31.592) (30.799) (62,391) Gross transfers between funds 71.636 (71.636) 31,671 (31.671) Net incomel(expenditurel for the yearl Net movement in funds 66,780 113,921 180.701 79 {62,470) (62,391 > Fund balances at 1 August 2023 56.615 297.592 354.207 56,536 360,062 416,598 Fund balances at 31 July 2024 123.395 411,513 534.908 56.615 297,592 354.207 The statement of financial activilies indudes all gains and losses recognised in the year. All income and expenditure derive from continuing acliMties. The slatement of financial activtties also complies with the requirements for an income and expenditure account under the CompaniesAct 2006. 11
YNYSYBWL REGENERATION PARTNERSHIP BALANCE SHEET ASAT31 JULY2024 2024 Notes 2023 Fixed assets Tangible assels 11 299.874 275,498 Current assets Debtors Cash at bank and in hand 12 1,008 239.481 3.212 80.396 Creditors: amounts falling due within one year 240.489 83,608 13 (5,455) {4,899) Net current assets 235.034 78,709 Total assets less Current liabilities 534.908 354,207 Income funds Restricted funds 14 411.513 297,592 Designated funds General unrestricted funds 15 12,981 110,414 13,563 43.052 123,395 56,615 534,908 354,207 12-
YNYSYBWL REGENERATION PARTNERSHIP BALANCE SHEET (CONTINUED) ASAT31 JULY2024 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 July 2024_ The trustees acknowledge Iheir responsibilities for ensuring that the charity keeps accounting records which cMplY wilh section 386 of the Acl and for preparing financial stalements which give a true and fair view of the slate of affairs of the company as at the end of the finanual year and of rts incoming resources and applic*ion of resources, including its income and expenditure, for the financial year in ac£A)rdance with the requirements of sections 394 and 395 and which othetwise comply with the requirements of the Companies Act 2006 relating to financial slatements, so far as applicable lo the company. The members have not required the company to obtain an audit of its financial statement5 for the year in queslion in accordance with 5eclion 476. These financial stalements have been prepared in accordan with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the Truslees on . Trustee - Emma Musgrave Company registration number OS505791 13-
YNYSYBWL REGENERATION PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024 Accounting policies Charity inforn)ation Ynysybwl Regeneration Partnership is a private company limited by guarantee incorporaled in England and Wales. The registered office is 20 Wndsor Place. Ynysybwl, Pontypridd. Mid Glamorgan, CF37 3HR. 1.1 Accounting Convention The financial statements have been prepared in accordance with the charity's governing dDGument, the Companies Acl 2006 and 'Actounting and Reporting by Chanlies.. Statement of Recommended PracliGe applicable lo charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019>" The charity is a Public Benefit Entily as defined by FRS 102. The charity has taken advantage of the prowsions in the SORP for charities applying FRS 102 upda Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling. which is Ihe fundional currency of the charFty. Monètary amounts in these financial statements are rounded to the nearest £. The financial slatements have been prepared under the historical cost convention. The principal accounting policies adopted are set out bebw. 1.2 Going concern At the lime of approving the financial statements. the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the tiuslees continue to adopt the going cOnrn basis of ac(¥Junting in preparing the financial statements. 1.3 Charitable funds Unreslricled funds are available for use at the discretion of the trustees in fvrtherance of their Gharilable objectives. Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the desrgnated funds are set out in Ihe notes to the financial statements. Restricted funds are subject to specific conditsons by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial stslements. 1A Income Incomè is recognised when the charity is legally entitled to rt after any performance conditions have been met, the amounts can be measured reliably. and it is probable thal income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation. unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Grft Aid or deeds of covenant is recognised al the time of the donation. Income from government grants. whether 'capital' or 'revenue' is recognised when the the charily has enlitlemenl lo the funds, any performance conditions attached to the grants have been met, it is prci)able Ihat the income will be reiVed and the amount can be measured reliably and not defeed. Capital grants are classified in restricted funds with depreciation charged against the fund. Once the restriction has been mel the assel is transferred lo unrestricted funds. Income from venue hire is recognised when the service is provided with any amounts received in advance deferred. 14-
YNYSYBWL REGENERATION PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 Accounting policies IContinued} 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlemenl will be required and the amount of the obligation can be measured reliably. Expenditure on charitable activities indudes all costs relating to the furtherance of the charitls objectives as stated in the trustees report 2nd their associated support costs. Irrecoverable VAT is charged as a cost against ihe activity for which the expendtture was incurred. Support costs have been allocated belween govemance costs and other support. Govemance costs comprise all costs involving public accountability of the charity and its Complian with regulats'on and good practice. Support costs indude central functions and have been allocated to activity Cost calegorTres on a tasis consistent with the use of resources. 1.6 Tangible fixed assets Tangible fixed assets are initialty measured at cost and subsequendy measured al cost or valuation, net of depreciation and any Impalmnt bsses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Freehold land and buildings Leasehold improvements Plant and equipment Computer5 5°k straight line Over the life of the lease 33.33 °A straight line 33.330/p Straight line The gain or loss arising on the disposal of an asset is detemined as the dnlerence betsveen the sale proceeds and the carrying value of the asset, and is recognised in the stalemenl of financial activities. 1.7 Impaiment of fixed assets At each reporling end date, the charity reVwS the carying amounts of its tangible assets to detemiine whether there is any indication that those assets have Suffered an impaimient loss. If any such indution exists, the recoverable amount of the asset is estimated in order to detemiine the extent of the impaimient loss Irf any). 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand: deposits held at call with banks. other short-lem) liquid investments with original malurtties of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Finanal InstnJments' and Seclion 12 'Other Financial Instrumenls Issues, of FRS 102 to all of its financial instrumenls. Financial inslrumenls are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assels and liabilities are offset, with ihe net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounls and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. 15-
YNYSYBWL REGENERATION PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JUL Y 2024 Accounting policies (Continued) Basic financial assets Basic financial assets. which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently Garried at amortised cost using the effective interest method unless the arrangement constilutes a financing Iransaclion. where the transaction is measured at the present value of the fvlure receipts discounted al a fflarket rate of interest. Financial assets classified as receivable wilhin one year are not amortised. Derecognition of financial assets Financial assels are derecognised onty when the contractual rights to the cash 17ows from the asset expire or are settled. or when the charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity. or if some significant risks and rewards of ownership are retained but control of the asset has transferred lo another party that is able to sell the asset in its entirety to an unrelated third party. Basic r Inancial liabilities Basic financial liabilities, including creditois and bank loans are initially recognised at transadion price tjnless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present valLJe of the future payments discounted at a market rate of interest. Financial liabilities classifsed as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost. using the effective interesl rate method. Trade creditors are obligations to pay for good5 or serv15 that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as (Jjrrent liabilities if payment is due within one year or less. If not, they are presented as non-currenl liabrtieS. Trade creditors are recognised initially al transaction price and subsequentty rneasUd at amortised cost using the effective interest method. DecOgnItion of r Inancial liabilities Finan31 liabilities are derecognised when the chaTity's contractual obligations expire or are discharged or cancelled. 1.10 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an oxpense when the charity is demonstrably MmItted to terminate the employment of an employee or lo provide termination benefit5. 1.11 Retirement benefjts Payments lo defined contrtbLrtion retirement benefit schemes are charged as an expense as they fall due. 1.12 Taxation As a registered charity, Ynysybwl Regeneration Partnership is entrtled to the exemption from taxation in respect of income and capital gains reiVed with sections 47&489 of the Corporation Tax Act 2010 and section 256 of the Taxation ol Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects purposes only. 16-
YNYSYBWL REGENERATION PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED> FOR THE YEAR ENDED 31 JULY 2024 CritiGal accounting estimates and judgements In the application of the charity s accounts.ng policies, the trustees are required to make judgements, eslimates and assumptions about the carying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these ests'mates. The eslimales and undertying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects lY that period. or in the period of the revision and future periods where the revision affecls both current and future periods. Donations and legacies Restricted Unrestricted funds funds 2024 2023 Donations and gifts 395 1,591 17-
YNYSYBWL REGENERATION PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY2024 Charitable activities 2024 2023 Enterprise income Grants 8.589 313,649 8,989 150.667 322.238 159,656 Anatysis by fund Unrestricted funds Restricted funds 13,432 308,806 16,127 143.529 322.238 159,656 Performance related grants National Lottery Fund Erasmus Shared Prosperity (RCT) Ynysybwl Enterprise Programme Friends of Butchers Pool Interlink RCT Ynysybwl & Ceodycwm Community Council Rhondda Cynon Taff County Borough Council People and Work Unit Rank Foundation CFS (RCT) Kickstart BBC CIN Welsh Govemmenl Awards for All other 119,772 12,834 15,376 106,490 3,210 5,377 1.090 10,304 64 17,857 2,803 972 (1.868) 314 2,000 540 2.151 10,000 144.680 10,000 349 313.649 150,667 Other income Total Unrestricted funds 2024 2023 Other income 200 18-
YNYSYBWL REGENERATION PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY2024 Charitable activities 2024 2023 Staff costs Deprecialion and impairment General office costs Insurance Professional fees Printing, post and stationery Project consultancy work Building and project repairs Subscriptions and donations Donations Telephone and IT UtilTties and ground rent Venue hire General project costs Advertising Other staff costs Travel 65,249 33,039 4.801 6,055 2,244 116,576 32,297 27,212 5,741 915 196 1,500 2,194 215 1.774 287 270 3.992 6.480 4,040 2,700 1,296 18.837 1,088 2.159 4,892 14,850 139,041 221,858 Share of govemance costs (see note 7) 2,891 1,980 141.932 223,838 Analysis by fund Unrestrided funds Restricted funds 18,288 123.644 49,510 174,328 141,932 223,838 19-
YNYSYBWL REGENERATION PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JUL Y 2024 Support Costs Support Governance costs costs 2024 2023 Basis of allocation Audit fees Accountancy 2,280 611 2.280 611 Governan 1.980 Governan 2.891 2,891 1,980 Analysed between Charitable activities 2,891 2.891 1,980 Governance costs includes payments to the independent examiners for accountancy work tolalling £5SO {2023.' £500) and £1,730 (2023.. £1,480) for the independent examinabon. Trustees None of the trustees (or any persons connected wtth them) recerved any remuneration or benefits from the charity during the current or prior year. No trustee was reimbursed for expenses during the current or prior year. Employees Number of employees The average monthly number of employees during the year was.. 2024 Number 2023 Number Tolal slaff Employment costs 2024 2023 Wages and salaries Social security costs Other pension costs 62,020 106,863 4,616 5,097 3,229 65,249 116.576 Key manayement personnel The key management personnel of the charity as detailed in the trustees report received beneffts (consisling of gross salary, employers national Insuran contributions and employers pension contributions) lotalling £35,767 (2023. £19,253). There were no employees whose annual remuneration was £60,(K)O or more. -20-
YNYSYBWL REGENERATION PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JULY 2024 10 Taxation The charity is exempt from tax on income and gains falling wtthin section 505 of the Taxes Act 1988 or sedion 252 of the Taxalion of Chargeable Gains Act 1992 to the extent that these are applied to r(s charitable objecls. 11 Tangible fixed assets Frnehold land Leasehold and buildings Improvomonts Plant and equlprnent Computèrs Ttstal Cost At 1 August 2023 Additions Disp05als 331.869 59,693 92.665 2,956 1,750 17,502 755 (674) 444,992 62.198 1674) At 31 July 2024 391.562 92.665 4,706 17,583 506,516 DeprecTation and impaimient At 1 August 2023 Depreciation charged in the year Eliminated in respect of disposals 88.270 18.090 2.956 578 16.787 964 (674) 174,277 33,039 (674) 13.407 At 31 July 2024 106.360 79,671 3,534 17,077 206,642 Carrying amount At 31 July 2024 285,202 12.994 1,172 506 299,874 At 31 July 2023 248.383 26,400 715 275,498 12 Debtors 2024 2023 Amounts falling due within one year: Trade deblors Prepayments and accrued income 3,212 1,008 1,008 3,212 13 Creditors: amounts falling due within one year 2024 2023 other taxation and social security Trade creditors other creditors Accruals and deferred income 460 900 434 3,661 1.092 1.530 417 1,860 5.455 4.899 21
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YNYSYBWL REGENERATION PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JUL Y 2024 17 Operating lease commitsnents Ai the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows- 2024 2023 Within one year 294 18 Related party transactions There were no relaled party transactions to disdose in the 2024 or 2023 financial year. -27_