Towy Community Church Charity number.. 1136394 Company Registration Number.. 07181550 Trustees, report and financial statements for the year ended 31$1 December 2024
Towy Community Church 07181550 Contents Page Legal and administrative information Trustees report Independent Examination report Statement of financial activities 10 Balance sheet Notes to the financial statements 12-17
Towy Community Church 07181550 Le al and administrative information Charity Name.. Towy Community Church Charity Registration Number- 1136394 Company Registration Number.. 07181550 Address: Xcel Centre Llansteffan Road Johnstown Carmarthen SA313BP Trustees & Directors.. Mary Bayes- resigned 07.11.2024 Niall Pickup Paul Griffiths Emyr Jones Tim Howells Charlie Evans Auditors.. Ashmole & Co The Old School, The Quay. Carmarthen, Carmarthenshire, SA313LN Bankers: Lloyds TSB King Street Carmarthen Nat West King Street Carmarthen 21Page
Towy Community Church 07181550 ort of the Trustees For the yearended 31 December 2024 The Trustees present their report and the financial statements for the year ended 31 December 2024. The trustees who served during the year and up to the date of this report are set out on page 1. Structure, governance and management The Charity is managed by trustees who are appointed by the church leadership. The board of trustees will Gonsist of mernbers equally representing the church leadership and church attendees. Governing Document The charity is governed by its Memorandum and Articles of Association as a Company Limited by Guarantee. Objectives and activities I Public Benefit The main purpose and objects of the charity are set out in the Memorandum of Association as follows.. to advance the Christian faith in accordance with the Statement of Belief in Carmarthenshire and in such other parts of the United Kingdom or the world as the Leadership Team may from time to time think fit and to fulfil such other purposes which are exclusively charitable aGGording to the law of England and Wales and are connected with the charttable work of the Church- to relieve persons who are in conditions of need or hardship or who are aged or sick and to relieve the distress caused thereby in the said location and in such other parts of the United Kingdom or the world as the Leadership Team may from time to time think fit,. to benefit the local community of Carmarthenshire and the neighbourhood by associating together with the said local community and the local authorities, voluntary and other organisations in a common effort to advance education andlor to provide facilities in the interests of social welfare for healthy recreation and leisure time occupation with the objective of irnproving conditions of life for the residents. Achievements and erforrnance 2024 Church Re ort 2024 The venue at St Catherine's Walk continues to be a great blessing for us as a church. Its open door allows the community access to see and hear our Sunday services. A number of individuals have joined us in our services to experience a church serwice. Our online Zoom prayer meeting continues to be a success with various church members leading us in prayers for our nation and for our local community. We were also invited at the beginning of the year to present the GSUS Live exhibition which helps secondary school students explore the themes of fear, forgiveness and rejection through the teachings of Jesus. This same week we hosted a student from Holland who wanted to improve her English and so helped us at QEHS as we presented GSUS live. This gave us the opportunity to invite young people to our"Gathering" event. We had many visiting speakers from all over Wales and even as far as Hong Kong and the USA. We continue to hold regular family services when the children are involved in the service and where the talk is mainly directed at them. These services have been so rewarding and also an opportunity for our children's team who wonderfully each week put on a fantastic program to have a week's break. We have adapted the cafe church service each month so that the speaker from the week before summarizes their message on a second Sunday before we break up into table groups to discuss the message with preset questions. This has been life Ghanging for so many as they have had the opportunity to ask questions and receive prayer in a small group setting. We began the year by finishing our study of Romans before moving on to a long series entitled "Conversations with Jesus" We've also continued to meet up on a regular basis with our close friends from Bethel Church and worshipped together as ONE Church with some excellent visiting speakers which included Les Issac of the national initialive "Street Pastors" We also met with Bethel midweek over two months together to sludy Ihe "Practicing The Way" course developed by John Mark Comer. We continue to run the Alpha course jointly with Bethel. The Ghurch has continued to grow and many have come to faith in Jesus Christ. baptising 5 in Saundersfoot in July and another 3 at St. Catherines Walk in October. Many from the church attended the New Wine Cymru GonferenGe, and we Gontinue to be grateful for their support to Towy Community ChurGh. 3 | Plc oe
Towy Community Church 07181550 This year also saw the launch of a Young Adult group (18- to 30-year-olds). This group has grown both in numbers and faith over this year. The joy and growth in ouryoung people has been a blessing to the whole church. The football pod events continued throughout the year, and we enjoyed a football match between Towy and Bethel which raised money ready for a missions trip to Malawi in Easter 2025. We hope this will be the first of an annual friendly fixture against Bethel, particularly because both our children and adult teams won their respective matches. The Gathering has continued to hold meetings every four months for secondary school children and has been supported by well over 100 young people at each event. on again, we held a Christmas Fun Day at St Catherine's Walk and were joined by Carmarthen Town Council who, due to inclement weather, could not hold a separate"Turning on the Lights" event. In this we were joined by the Mayor and Mayoress. Close to 1,000 people attended throughout the day. The Xcel Project continues to fulfil our mission of blessing our community through Carmarthen Foodbank, Xcel Furniture and Xcel Community Shop, Carmarthen Community Money Advice and of course Ihe excellent community venue, Xcel Bowl. This is the church and Community working together to bless our town. So again, a very busy year. for Towy Community Church. A year when we continued to reach out to bless, help and support our community. W@ praythatwe will Gontinue to serve Camiarthen in practical and spiritual ways. Our mission remains the same, displaying God's love this wonderful community bringing hope in Jesus, name, "Reaching People and Changing Lives" Xcel 2024 Re ort In 2024 we have continued to face the pressures faced by the economy as a whole - the cost-of-living crisis being a major factor in both the bowling operation (our main source of income) and the demands on our social outreach projects. 11 has been a difficult year financially. However. we managed to secure refinancing in December with Kingdom Bank and outstanding loans were repaid. We are very grateful to the dedication of our staff and volunteers for their hard work to maintain our project's main aim of reaching people and changing lives. Xcel Bowl The Bowl continues to be utilised by a variety of community groups on a weekly basis and provides a safe and accessible space for people to meet. Again, a big thank you to all our staff for their hard work and dedication, especially to Nat Gale who left us in August having been with us since the beginning of the Project. We welcome our new Bowl Manager. Jack Wildsmith. We have applied to Carmarthen County Council for a grant to open a Multiball facility to add to our offering in the hope that this will add an income stream to our activities. The Bowl was used to host a small number of Towy Community Church events. Xcel Furniture The Furniture recycling centre. incorporating the Community Shop was fully open throughout the year. Again, we place on record our thanks to Hywel Jenkins and his team of employees and volunteers for their hard work through the year. During 2024 we Gollected 30,153 items, totalling 109 Tonnes. In total, 207 units were given free of charge to the community, and 56 families were assisted with free furniture under our voucher scheme. We would want to record our thanks to EasyBooks fortheir continued sponsorship ofthe furniture van, which enables us to run delivery vehicles. Carmarthen Foodbank and Carmarthen Community Money Advlce We place on record our thanks lo Cath Cork, Carolyn Yelland and teams for their continued dedication to supporting our community with food parcels, money advice and, above all, their compassion. We received a grant from Trussell as part ofthe Pathfinder programme to employee an additional Debt Advisor, Tinashe Kaseke who has quickly settled into the team and is very popular with our client base. Carolyn resigned towards the end of the year to work with one of our partners, the Salvation Arrny, and her replacement, Suzy Phelps, commences her role in the new year. As directors we are humbled by their diligence and compassion in meeting the needs of our community.
Towy Community Church 07181550 During the year, the Foodbank worked with over fifty referral agencies (the most referrals coming from Carmarthen County Council Housing Services, CAB and our own Community Money Advice) and saw an increase of 8 % in emergency food parcels. In total, 1,477 three-day emergéncy food parcels were distributed with a total of 3,362. Stock levels however are down as donations have reduced and we have had to purchase over 2,OOOkg of food to maintain the service. The main reasons for the referrals were the rising costs of food and energy bills allied to low wages, debt issues and ongoing physical and mental health issues. We have also seen a significant increase in the number of homeless clients accessing our services. Community Money Advice is now established as a support to any requiring debt and budgeting assistance. We recognise that the work with every client is Gomplex and work intensive and would thank all our volunteers through the year and in particular Peter Mount for his volunteer work. The Table in the centre of Carmarthen is now fully open and is used by both us and other agencies to support our community. We have supported 86 clients over the year and managed £770,673.77 of debts. We have achieved £109,000 of financial gains for our clients. Case Studies Case study 1 A single person, unable to work due to ill health. They attended The Table drop in after hearing about our services from a friend. They had tried to resolve their debts but were unable to manage them and became very anxious. After speaking with a friend, they chose to attend the drop in. After going through the debt advice service Carmarthen CMA were able to offer a debt relief order. They accessed budgeting supportfrom Carmarthen CMA and are now managing theirfinances. The words that were uttered when the DRO was approved 'you have lifted the weight off my shoulders., it's like I have had a second chance thank you,. Case Study 2 A couple visited our Foodbank. During a conversation it was disclosed that they owed over £30,000 in debts due to having to borrow money since one of them lost theirjob over 12 months previously. They were referred to CMA and a debt management plan was set up. They had been paying over £700 a month just to service those debts but following the work of CMA this was reduced to £32 a month with agreements secured with all creditors. The huge monthly saving has meant the couple no longer need to access the Foodbank. Summary We began these projects to support Towy Church's mission of reaching people and changing lives and remain committed to these goals. We appreciate your prayers for wisdom in planning for the future of the projects, and for the support many of you give in volunteering roles - thank you. 51Pic OC
Towy Community Church 07181550 Financial review Policy on reserves The Charity's policy is to keep a minimum in general funds to run the organisation for 3 months. Statement of trustees, responsibilities The trustees are responsible for preparing the annual report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each finanoial year which give a true and fair view of charity's financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a true and fair view, the trustees are required to.. select suitable accounting policies and then apply them consistently., make judgements and estimates that are reasonable and prudent. and prepare the financial statements on the going concérn basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. Trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees declare that they have approved the trustees, report above. On behalf of the board Signed.. ..Trustee Date:..tr4....S.ff.T 2 Print NaMe.....1fr......
Towy Community Church 07181550 ort of the Inde endent Auditors to the Trustees Opinion We have audited the financial statements of Towy Community Church (the 'charitable Gompany'l for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting poliGies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state ofthe charitable company's affairs as at 31 December 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinlon We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively. may cast significant doubt on the charitable company's ability to continue as a going concern for a period of al least e1ve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concem are described in the relevant sections of this report. Other infomiation The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of tho Independent Auditors thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otheiSe explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otheiSe appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we aré required to delermine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed. we conclude that there is a material misstatement of this other information. we are required to report that fact. We have nothing to report in this regard. Matters on which we are required to report by exception We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion.. the information given in the Report of the Trustees is inGonsistent in any material respecl with the financial statements; or the charitable company has not kept adequate accounting records., or the financial statemenls are not in agreement with the accounting records and returns., or we have nat reGeived all the information and explanations we require for our audit. 71Piige
Towy Comrnunity Church 07181550 Responsibilities of trustees As explained more fully in the Staternent of Trustees, Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such intemal control as the trustees determine is necessary to enable the preparation of finanGial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Our responsibilities for the audit of the financial statements We have been appointed as auditors under Section 144 ofthe Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conduGted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements Gan arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.. Irregularities are instances of non-compliance with laws and regulations. The objectives of our audit are to obtain sufficient appropriate audit evidence regarding compliance with laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements, and to respond appropriately to identified or suspected non-compliance with laws and regulations identified during the audit. In relation to fraud. the objective of our audit are to identify and assess the risk of material misstatament of the financial statements due to fraud. to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud through designing and implementing appropriate responses and to respond appropriately to fraud or suspected fraud identified during the audit. However, it is the primary responsibility of management, with the oversight of those charged with governance, to ensure that the entity's operations are conducted in accordance with the provisions of laws and regulations and for the prevention and detection of fraud. In identifying and assessing risks of material misstatement in respect of irregularities, including fraud, the audit engagement team.. Obtained an understanding of the nature of the industry and sector, including legal and regulatory framework that the company operates in and how the company is complying with the framework; Inquired of management, and those charged wilh governance, about their own identification and assessment of the risks of irregularities, including any known actual, suspected or alleged instanGe of fraud., Discussed matters about non-compliance with laws and regulations and how fraud might occur including assessment of how and where the financial statements and be susceptible to fraud. As a result of these procedures , we consider the most significant laws and regulations that have a direct impact on the financial slatements are FRS 102, the Charities Act and the Companies Act 2006. We performed audit procedures to detect non compliance which may have a material impact on the financial statements whiGh included reviewing the financial statements disGlosures. The audit engagement team identified the risk of management override of controls as the area where the financial ststements were most susceptible to material misstatement due to fraud. Audit procedures performed included but were not limited to testing manual journal entries and other adjustments and evaluating the business rationale in relation to any significant , unusual transactions and transactions entered into outside the normal course of business.
Towy Community Church 07181550 A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.ukl3uditorsresponsibilities. This desGription forms part of our Report of the Independent Auditors. Use of our report This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 ofthe Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might stste to the charitable company's trustees those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitsble company and the charitable company's trustees as a body, for audit work, for this report, or for the opinions we have formed. organ BSC FCCA (Senior Statutory Auditor) For and on behalf of Ashmole & Co. Chartered Certified Accountants & Registered Auditors The Old School The Quay Carmarthen Carmarthenshire SA313LN Date.. 9 | P<ige
Towy Community Church 07181550 STATEMENT OF FINANCIAL ACTIVITIES for the period ended 31st December 2024 Unrestricted Restricted Funds Funds notes Total Funds last Incomin Resources Donations Legacies & Similar Incoming resources Donations Income Grants reCeId - Unrestricted Grants ReCeId - Restricted 100,537 29,539 130,076 123,534 107,283 107,283 51,965 Incoming Resources from Operating Activities al in furtherance of the charity's objectives Trading income 992,579 992,579 1,074,137 b) for generating funds Fundraising Investment Income Bank Interest ReCeId 181 181 606 Other Incoming Resources Tax Rebate from cOnantIGlft Aid Other income 16,095 506 13,296 3.783 29,391 4,289 14,793 5,233 TOTAL INCOMING RESOURCES 117,138 1,146,660 1,263,798 1,270,268 Resources Ex ended Costs of generating Funds Fundraising Costs Charitable Expenditure GrantslGifts in fvrtherance of objectiS Resources Expended on Management & Administration (including YLel costs) 11,487 11,487 13,872 105,553 1,330,279 1,435,831 1,384.489 Support Costs G0ManCe Costs.. Audil Fees Fees for preparation of accounts 16,938 16,938 8,975 2,500 900 2.500 900 2.500 900 TOTAL RESOURCES EXPENDED 117,039 1,350.616 1,467,656 1,410,736 NET INCOMING RESOURCES Before transfers 98 -203.956 -203,858 -140,467 Transfers Between Funds -8,327 8,327 NET INCOMING RESOURCES After transfers -8,229 -195,629 -203,858 -140,467 GainslLosses on Rewdluation of Fixed Assets NET MOVEMENT IN FUNDS -8,229 -195,629 .203,858 -140,467 Total Funds Brought Fomard Total Funds Caled Fonward 24,360 16,131 975,454 779,825 999,814 795,956 1,140,281 999,814 Continuing Operations - All income and expenditure has arisen from continuing actlmties IO | P2c.
Towy Community Church 07181550 Unrestricted Restricted Funds Funds notes Total Funds last ear Balance Sheet as at 31st December 2024 Fixed Assets-Tan ible Fixed Assets -Tangible 10 953 1.266,629 1,267,582 1,307.327 Cuent Assets Stock Debtors & Prepayments Bank & Cash 5,895 28,017 177,448 211,361 5,895 29,799 193,193 228,887 8,311 28,288 185,079 221,678 1,782 15,744 17,526 Current Liabilities Creditors & Accruals Loan repayments due in 1 year fallin due wlthln 1 ear 12 2,349 119,229 79,614 121,578 79,614 161,597 70,279 2,349 198,844 201,192 231.876 Net Current Assets 15,178 12,517 27,695 {10,198) Totsl Assets less Current Llabllltles 16,131 1,279,146 1,295,277 1,297,130 Creditors Falling due after 1 year Promsions for Liabilities & Charges 12 499,321 499,321 297,315 Total Net Assets 16.131 779,825 795,956 999,814 Fund Balances Funds Blfwd Net M0ment offvnds 24,360 18,2291 975,454 {195,6291 999,815 (203,8581 1.140,281 {140.467) TOTAL FUNDS 16.131 779.825 795,956 999,814 The financial statements were approvad by the Board of Trustees on were signed on its behalf by: and Signed............................................. Trustee Il | Piloc
Towy Community Church 07181550 Notes to the financial statements for the year ended 31 December 2024 1. Basis of preparation 1.1. Basis of preparing the financial statements The financial statements of the charitable company, which is 8 public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 1021 '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 2015),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The tinanGial statements have been prepared under the historical cost convention. These financial statements are prepared on the going Goncern basis. The trustees have taken sleps to secure the financial future of the organisation for the foreseeable future. Financial reporting standard 102 - reduced disclosure exemptions The charity has taken advantage of the followin9 disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,: the requirements of Section 7 Statement of Cash Flows., the requirement of Section 3 Financial Statement Presentation paragraph 3.17(d)', the requirements of Section 11 Financial Instruments paragraphs 11 .41 (b), 11.41 (c), 11 .41 (e), 11.41 (0, 11.42, 11.44,11.45, 11.47, 11.48{a){iiil, 11.48(a)(iv), 11.48(b) and 11 .48(c)', the requirements of Section 12 Other Financial Instruments paragraphs 12.26, 12.27, 12.29(a), 12.29(bl and 12.29A- the requirement of SeGtion 33 Related Party Disclosure paragraph 33.7. 1.2. Change in B8sis of Accounting There has been no change to the accounting policies (valuation rules and methods of accounting) since last year. 1.3. Changes to previous Accounts No changes have been made to accounts for the previous years. 2. Accounting policies The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year. 2.1 Incoming resources All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount 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 grfts and is included in full in the Statement of Financial Activities when receivable. Gifts donated for resale are included as income when they are sold. Donated assets are included at the value to the charity where this can be quantified and a third party is bearing the cost. The value of services provided by volunteers has not been included. Tax Reclaims are included in the SOFA at the same time as the gift to which they relate. Grants, including grants for the purchase of fixed assets, are recognised in full in the Statement of Financial Activities in the year in which they are receivable. Income from investments is included in the year in which it is reGeivable. Legacies are included when the charity is advised by the personal representative of an estate that payment will be made or property transferred and the amount involved can be quantified. 2.2 Resources expended Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates. 121Patre
Towy Community Church 07181550 Resources expended are recognised in the year in which they are incurred. Support costs are those costs incurred directly in support of expenditure on the objects of the Gharity and include project management. 2.3 Tangible fixed assets and depreciation Expenditure is capitalised if the asset has a useful life of more than 1 year and its cost exceeds £500. Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, on a straight line basis as follows.. Office Furniture and equipment Equipmenl, Fittings Bowling Lanes Buildings 250/0 10 % (changed from 25°/o effective 1.1.16) 100/0 (changed from 25 /0 effective 1.1.16) 2.4 Stocks These are valued at the lower of cost and market value. 3. Analysis of Incoming Resources Donations income consists of regular giving by church members in tithes and offerings, plus "one off, gifts or donations. Where these gifts are given for a specific purpose they are held in a restricted fund. This includes gifts received under the gift aid scheme. The incoming resources include Ihe following Grants into restricted funds.. Trussell Trust Pathfinders £78,168 Foodbank and Community Money Advice Trussell Trust Fundraiser £22,500 Foodbank and Community Money Advice 4. Analysis of Resources Expended Grants awarded Grants are given in accordance with the objectives of the charity. All decisions on grant awards are Gonsidered and decided upon by the trustees. The financial value of volunteer time has nol been included in the financial statements but forms a crucial part of the SUCGess of the organisation. Management and Administration Costs are as follows.. this year 888257 144923 123643 115335 16035 6580 5793 57500 19930 57836 last year 793874 139635 138106 109988 74168 8894 5685 52563 10107 51467 Wages, Salaries & Associated Costs Purchases for Resale kel Rent. Rates, Light & Heat Administration Costs Repairs & Maintenance Tra1 and subsistence Lease Payments for Scoring System BanklHP Interest and Charges Actimty costs Depreciation & Loss on Asset Disposal [ecOrab1e Vat 1435831 1384489 5. Trustee Expenses The following out of pocket expenses were reimbursed to trustees during the year.. Mary Bayes Niall Pickup Paul Griffiths Tim Howells Emyr Jones Charlie Evans 13 | Pci (re
Towy Community Church 07181550 6. Support Costs This ear 16,938 Last Year 8,975 Financial mana ement CostslBook-kee (Includes re-financing arrangement and valuation costs £6,150 7. Governance Costs This 2,500 900 ear Last Year 2,500 900 Fee for Audit l Examination of Accounts Accounts re aration 8. Staff Expenditure 8.1 Staff Costs This Year 860,124 18,729 Last Year 775,889 16,195 Gross Wa es & Salaries Pension Costs Redundanc Costs incl. ER NI 8.2 Number of Em lo ees This Year 46 Last Year 47 Full time em ees ore uivalent No employees had emoluments in excess of £60,000. In addition to employees, over 120 volunteers contributed to the project this year. 9. Grant making Grants amounting to £1,200 were paid to Dr M'z Youth Project during the year in monthly payments of £100. All other grants made during the year did not exceed £1000. 10. Flxed Assets Fumiture & ui ment- General Funds Xcel Ca enditure Buildin Restricted Other ment - Restricted TOTAL enin Balance Cost Additions in Year Dis osals in Year Closin Balance at Cost 15,482 1,552,046 492,283 18,092 3,700 506 675 2,059,810 18,092 3,700 2 074 202 1552 046 Opening Accumulated reciation Char efor ear Released on Dis osal Closin Accumulated De 13,983 321,508 416.992 752,483 545 31.041 25,711 3,161 439 543 57,297 3,161 806 619 reciation 352 548 Closin Net Book Value 953 1,199,497 67,132 1,267,583 No assets have been re-valued during the year.
Towy Community Church 07181550 11. Debtors and prepayments Amounts falling due within 1 year are as follows.. This Year Last Year HMRC Gift Aid Rebate Trade Debtors Prepayments 949 1,002 27,849 1.127 3,369 £ 23,792 £ 29800 £ 28288 12. Creditors and Accruals Amounts falling due within 1 year are as follows.. This Year Last Year Trade Creditors HMRC-VAT PAYE, Pension and net pay {incl AOE) Accruals Accrue Loan Interest 39,733 64,715 13,630 3,500 £ 58,165 £ 38.627 £ 17.401 £ 36.276 £ 11,127 Bank Loan CCC Loan CBILS Van HP Third Party & Trustee Loans. 10,348 £ 12.647 £ 22,766 £ 29,600 5,266 5,266 64,000 £ 201 192 £ 231 875 Amounts falling due after 1 year are as follows: CCC Loan Bank Loan CBILS Van HP £ 47,915 £ 176,422 £ 55,735 £ 17,245 £ 488,638 10,683 499 321 £ 297 315 'Third Paty & Trustee Loans are interest free and repayable when cashflow allows and with approval of Kingdom Bank. 13. Transactions with related Parties 13.1 Remuneration and benefits The following amounts were paid to trustees as salary for specific employment roles as permitted in the governing document:. Name Paul Griffiths £ This Year 35.568 All amounts were paid under the PAYE system and are shown as Gross pay figures. 13.2 Loans No loans were made to the trustees or related parties during the year. 13.3 Other Transactions 15 |Pa(re
Towy Community Church 07181550 There are no other transactions to disclose in this year. 14. Additional Disclosures In order to assist project cashflow, sometimes funds are transferred from general funds to projects and then returned once cash availability permits. This does not affect the overall position of the organisation as the transfers are all internal. There are no further disclosures for this year. 15. Corporation tax The company is exempt from payment of corporation tax on its charitable activities. 161 Po
Towy Community Church 07181550 16. AnalYS of Funds Summary ReStrted Rasirted
tel Bowl, miture Xcel and HWB Project R8siricied Restricted Re51ricled Restricted Restricted Lhrestrict8d Totsl Funds Fundrdise Pathfind er General Funds CMA Foodbank Youth Incoming Funds Grants reCeId Trading Income GiftslDonalionslFundraising Offerings & Tithes Gift Aid Rebate of lax Profil on Sale of Assets Other income 107,283 992,579 18,718 111,357 29.391 6,615 22,500 78,168 992,579 3,000 2,115 11,884 15,718 84,818 16,095 1,250 250 23,174 1,162 4,470 1,263.798 2,336 1,011.914 1,146.660 181 181 112 1,335 79.503 506 117.138 1.500 31,062 22,500 Expendlture of Funds Costs of operating the charity 1,410,357 1,1 Q2,331 51,676 72,148 81 66,163 1,464 116.495 Depreciation 57.299 1,467,656 50,300 1,152,631 1,349, 152 (140,7181 166 {30.3551 148.142) 909 52,585 5.529 77,677 15 81 66,163 1,464 117,039 Net movgmont of fvnds for y Fund Tlfers In Year {203,8581 151.0851 146.615) 50.886 35,938 22,419 13,340 {1,4641 98 0 18,3271 Net Move After Fund Tlfers 1203.8581 1171,0731 147,9761 (1991 (10.6771 22,419 13.340 (1,464} 18,2291 opening Fund balances 999.814 896.687 49,046 832 27,426 0 1.464 24,360 clong Fund Balances 795.956 725.614 1.070 634 16.749 22.419 13.340 11 16.131 Balance Sheet Funds Fixed Assets 1,267,582 1578.9361 5.895 29,799 {121,5781 193,193 1.247,908 {578.9361 5,895 19,804 {115,3911 146.365 1321 725,614 679 1,948 16,095 953 less Loans & Mortgages Stock Debtors & ppaYrnents Creditor5 & Accruals Bank & Cash 25 8,189 {2.5891 15.1611 215 1,782 0 12,349} 15,839 1941 16,131 11.2501 391 22.419 13,340 Intemal bank transfers pending (891 634 795,956 1.070 16,749 22,419 13,340 Description of restrlcted Funds: XCelBO - All fvnds relating to the running of the bowling alley and fvmilure re¢ycling cantre. Y£el Project All fvnds relating lo th8 delplopmenl of Phase 2 of the building lo promde a conferencing facility. FocNJbank - All funds held ft)r the specific purpose of the bodbank. Howe*r the lue of donations in kind that are gIn are not shown in the figures, only monetary gifts and expenditure. CMA- All funds for operating the Community Money adiAce setvce Fundraiser- Grdnl lo ftjnd wages and other costs of fvjndraising Pathfinder- Grant lo contribute to Community Money AdiAce to encourage preK4nlion of financial difficulty Youth - donations gIn for the specific purpose of youth work CMA - All funds relating to the Community Money Adiice Project 17 | Pclgc