Charity rogistratlon number 1142855 Company reglstratlon nmber 71814361England and Walm) GLYNCOCH COMMUNITY REGENERATION LTD ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
GLYNCOCH COMMUNITY REGENERATION LTD CONTENTS Page Chairman's statement Trustees, report 2-10 Independent examinerfs report 11 Statement of finanrAal actIve8 12 Balance sheet 13 Notes to the financial statements 14-26
GLYNCOCH COMMUNITY REGENERATION LTD TRUSTEES, REPORT {CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2023 OAlm.. For Glync¢xh and 8ufTounding areas to be a prosperous Cajnmunily a strong, $ugtainabl8 local economy and strong link8 and access to the wder economy. KeyATras of Work." To support Ioc81 pw19 to incTrase hous8hold incon7e through access to tTrIng. c8reer bu&nes8 and job se8h suPrt as well as through access to beneffts advKe. To facilitate Investnt the communrfy Ihmugh grants. fvndrnlslng 8nd ¥vothg with Ser pmvid8rs lo taRorth&irprDgTrmmas to m6et t1 n8e(Js of the cofftmunty. To help develop sw'al erterpnses which wtll cTr8te jobs and m8xrn8 thg impact of investment In oui communty 8nd ullimatety en8ble us to Cany out ourwoth wfthotstbelnggr8nt depond8nl. e1. To supp)rt Glyncpjch to enjoy a pleasant environment and becom8 mexg r8silwrt to the negatr've Imp8cts of cllm8te chenge and ri8ing energy prlce8. KeyAre8s of Wo." To dgvolop and maintain high qualty o)mmunify spac&s. To facilitate in7pmvements to urtjan environment. To develop food gmwing space. To pn)tgGI 8nd enhance natuTrlhabrfgts. Publlc bgnofit The trusteey have paid due regard to guidance issued by the Charity Commission in dldIng et activites the tharfty 8houd undertake. The trustees have paid due regard lo guidance issued by the Charity Commission in declding what 8CtMtI68 the charity should undertake. Achlevomer4ts and perFornianc• The organls8lions main 8dlvthes for the reportlng period have focused on the provision of.. A ccthmunity centre Delivering work dubs online. via telephone and fark to fare Youth Provision for young people Educational ACttieS online and face to face Health & wellbèing XtNitie8 including ctokin9 das8es Food Panty Criws Support Room during winter months A Communrty survey Achlevements In the Communlty and Gurroundlng areas In meetlng the charfiy objects Soclal 63 young people attended the youth club sessions in the centre for th& lasl 9 sessions betrn Awil- June 2022 when the The Natnal Lottery Funding ended. Heaf(h & Wellbeing activities such as Jumpfit Sessions for adums have been delivered. 16 volunteers throughout th8 year who supported finance, the neighl)ourfy scheme, youth sesslorts and the panty. Total 1,05S hra.
GLYNCOCH COMMUNITY REGENERATION LTD TRUSTEES. REPORT (CONTINUED){INCLUDING DIRECTORS. REPORT} FOR THE YEAR ENDED 31 MARCH 2023 Econornl Work Clubs This year the delivery ol wothelub has been a mixture of remote and face-tckface sessions. There were 364 remotg sessSonB king delivered during the year. Face-lo-face sessions were Ild in Glyncoch Community Centre, Rhydyfelin library. Pontyclun Library. which was replaced Uanth'sant Job Centre, and an addits.onal session frcm September 2022 in PctyprKld Job Centre. There were 152 f4c•- to-face se881on8 durtng the year. This was rgelY successful and we worked with a lolal of 371 parficipants induding 348 naw P8rb'apants throughout the year during 506 work club sessi8. Despite thè upheaval of the pandemle and the resuhing restrICt)n3. we managed to record 11 job OLrtcomes in ts year arKI 175 referrals Io other services. Al the beginning of the year the organisation employed 4 membgrs of staff for the Cornmunities for Work + project in April 2022, wrth luThing from the Lgggcy Fund from the Welsh Government commlssloned by RCTCBC to delNer and support the workdubs across th8 Tafand GlynGo¢hffnysybwl area. organisalion also employs a part time Youth Support Sessional Worker funded by the National Lottery Award for All Community Fund", a claanar paid through Legacy Fund and Gtyrtod) Community Centre., and a part-time caretaker paid by MmUnItY cenlre. The fundirbg for the Youth Support Sessional Worker stopped at the end of June and sadly tho member of 8taff was made r8dund8nt mld July 2022 Envlfonm8ntsV 8U8t8inabilty Glyncoch Communlty Pantry Since December 2020 we have been running a food pantry addresslng food poverty and food waste. Our panty has th& following tharacterb¥ti¢s'. 1. It is a membership scheme where registered members make a small weekly o)ntribution (£418nd th¢$? food from the stock held. W8 are open one afternoon a week 2. To avoid any sbgma no 'me8n>tesl' Is applled. We are a dub cpen to all vtho live in Glyncoch and the surrounding area. 3. The stock 18 mo8Y SOUTced from the chaiity F8reShare Cymru. whlch has access to surplus fcod from supemiarket warehouses. We supplement this with food purchased using members contributions. 4. The scheme is run by volunteers dr8wn from the membership with the support of GCR. 5. The scheme is financ4ally self-8U81aining, the running costs 8re met Ihrixjgh thè memters. tsJnlribthion¥. The main outwings are the fees charged by Fareshare CyTnru. 6. The food distributèd includes dry food, lins, fresh trurt and vegetobles, chS11gd aTrJ frozen. 7. A poirts system is used to ensure fair distribution of the availabl8 food. Most il8m$ arg assigngd 1 poinL Typically members are given a limit of 12-14 points per week. 8. Fresh fruit and vegetable8 do not ccrfjnt towards this points limit- thi8 helps inttease Ihe proporbon tsf healthy food collected by member8. The stheme has grown mosuy ihrough word of mouth. It has also bg8n ath8rtiS8d through soaal medkg, posters in shops and through the local primary schools. The neèd for the project has Intenlled wllh the ongolrKJ costrf)f- living inue8ses. Feedback from members has been very positive.
GLYNCOCH COMMUNITY REGENERATION LTD TRUSTEES. REPORT <CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2023 Here are some of our athievements during this financial y&¥. 1. 163 hoLkgeholds are registered as membgrs. 2. On average 32 members attended the sessions each week in March 2023. Over the last 2 mrA)ts 85 households have benefited frorn the Panty- 138 adults and 72 children. 3. The scheme is meeting its running costs. We were grateful to receive £1,000 in grants from RCTrrrfvallls lo provide additional food. 4. Atotal of 10,gODkg of food has been diStribud this y8ar. 5. Members havtr 1Ved ab¢ut 9kg of food at each visit signrfKantly redwing their food bill for Ihe week. 8. We n[Y serve coffee arxl cake during sIDn5, giving members a valuable opporlunity for sooal Inlefaction. We continue to involve mèmbern in the derisKJTrmaking on project to ensure that il is rgsponwve lo the needs and to ensure that they have a real sense of ownbng the pro11. AS numbers are now too large to ¢anvas every member. we have set up a representative commrttee elected ty the the memters. They meet atoul 4 times per year io revlew progress and make p18ns for the next perS0d. Total Volunteers 12. totsl volw)teerlng hours- 863 hours beeen 1st Aprll 2022- 31st Marth 2023. Kry sourc08 of fundlng A great deal has been achieved in Glyncoch over the last year. For the reF<)rting peTi&J, funding ve15 are as follows: We have been commissioned lo deliver a third year of workclubs for RCTCBC. fvnded by the Legacy Fundthrough a service level agreement to the valu9 of £127,985 of which we spent £127,985. National Lottery Community Fund- Awards for AJI funding for Glyncoch Youth Club- £1,344 (of £6,720 March 2021- June 20221 Interfink GrVo1 Fund £500 for the ycKrth to make plants In Intergeneralonal project rèteived 6 Februory 2020 Iproject currenlty on hold due lo cov1191. We are 51111 holding this money. Monmouthshire Building Sooety £383 to help us purchase shelving for the food pantry riems. Marks & Spencers Gng Grant via Neighboudy Seheme, £1,000 toward$ running cost$. ArrId Clark Communty Fund £1,500 whith was granted 28 March 2022, carried forward and utilised in tre 2022-23 finandal year RCTCBC The Wnter Hardship Fund £2,000 to enable centre to open as warm room for loc41 pecple, provide hot drinks and food. purchasing waTm room Supplies such aB socks, hats, glov9$, thomial beakers. hand wamers. etc to help keep those who attend wam. UK Govemment via RCTCBC Sh8red Prosperity Fund £1,683 to provide cooking da88es and undwtake communlty suryey for the organisation. Orynisational Developmènt Achlevements Very tsjmmitted staff working hard to help people bring atoul d)ange. Ccfitinued partnernhip with various departments from RCTCBC, Interfink, Department of Work and Pensions (DWPI, Camau Cyntaf running Gruffalo's Den, Lldl Nelghbourly Scheme, Tru8sell Twst - Pc¥itypiidd Food Bank. . Successful management of Gtynccch Community Centre.
GLYNCOCH COMMUNITY REGENERATION LTD TRUSTEES, REPORT (CONTINUEDI(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2023 Flnancial revlew The chaiity recorded an unreslricted surplus for the year of £12712022.. Sur% of £1,329}. Tha chadly's total unr89tMcted reserves are £80.519 (2022.. £80.3921. of vthich £36,343 12022.. £36.833} has been destgnated. Free reserves at th8 year-end totslled £44,176 {2022.' £43.5591. are satisfied that Ihe free reseNes are sufficient to mitigate against risks identrfied, The Trustees will reviow the levgl of rgsorves held by the charity al least every 6 month8 and lake appropriate actions to increase or decrease these reserves towards the target level indicated above. The charity has restricted reserves of £612,413 {2022'. £674,482) of which £607,07512022: £669,623) relates to the building of the Phase 1 and Phase 2 of th& Community Centra and funding r8ceiv8d in advance or unsp8nt at the yeaF-8nd £5,338 (2022: £4.859). Reserves pollcy One of the key roles of any charity 18 to ensure there is e)Ugh money lo sustain the organisatn and cover any foreseeable costs. It is the ambition of the organisation to 8nsure there are adequate fvnds within our reserves to cover unfoieseenlsLKlden dosure. This policy refi8ds the realism of the organisation with rogards to reserves and sets out h¢JW il will manage the organisation and reserves to ensure good govemance and risk monagement. The Reserves policy has b revi8wed this year. There arg forms of roserve$- restrKtgd and unrgstn'ctgd. RestrlGt•d reserves £612.413- thi$ 1$ kyimarily Glyn¢c¢h Community Centro. Unrg8trict•d royorvg5 £80,519 as of March 2023. We aim to hold en¢Jugh reserves to mrtigate against the followng costs.. 1. UnF4anned repairs neèded on the Communty Centre- £12.000 2. L05s of regular rentsl inctme for Community Centre- £4,000 3. Cost of winding up Communiti8s For Woik + progiamrne- £16,000 We wll aim to hokl £32.000 of unrestrlcted re8eNes to allow lor these costs. Other r18ks were analysed tr wcwld be mitigated against by holding this level of reser¥e8. Some of these reserves wll be held in an irrterest bearing savings account.
GLYNCOCH COMMUNITY REGENERATION LTD TRUSTEES, REPORT (CONTINUED){INCLUDING DIRECTORS. REPORTI FOR THE YEAR ENDED 31 MARCH 2023 stfucturei governance and management For the r8portlng perlod the organ18atlon has been managed by th8 Communll88 for Work + Lead Oftker Cheryl Davies who reports directly to ihe Board of DIrectorsrustees. Throughout 2021- 2022 work on ensuring tha Charrty remains vtablè during the COVltk19 Pandemic has proved ¢thallenging. with activities cancelled for perfod8 of tome and Ilmfted oprK)rtunrtie8 to start new projects and funding r8i8irvJ 8Ctivitte8 belng extremely dIffilt. We h8ve continued to provide 8ervice8 in a éfftrent Way to delweT on the wsion and gods of the 0r9an18atlc. It18 hoped that 2022-23 financial year will bring opportUne$ for growlh and a more sustainable Service for ¢X)mmunity. whilst balanung the rise in the cost of living and increased energy prices. Governlng Document Glyncoch Communty R•goneration Llmltsd govémlng document 1$ ts Mgmorandum and Artld•8 0fA0datIQn set out at incorporation on 8 Marth 2010 and amended June 2011. Appolrthent of Dlrectors l Trustees Set 1 in paragraphs 31- 35 ofthe Memoranthjm andArtl¢les ofAsscdion. There wgrg no ¢hange$ during tho finan81 y88r. De¢islon maklng During the reporling period, all decisions vrfere made by the ard. Delegated responsibllity b gr*n to the 8enlor employee- Cheryl Davies who is funded by the Communities For Work + Prc9ramme. Partne Glyncoch Communty R8g6neration Ltd. works dosely wlih its Parbws to facilitate and der on 118 Vi81c through the provision of support for leamlng and employabilty 8kllls. Together we consull wlth the wider community and undertake a partnership approach to the regeneratKin of the area. A list of key parfners are Ilsted In the Chalrnan's Ststement.
GLYNCOCH COMMUNITY REGENERATION LTD TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2023 Reference And Admlnlstratfve Detal Name: Glyncoth Community Regenernlon Charlty Number: 1142855 Company Number: 7181436 RegIsted Offlce: GlynCh Community Regeneratlon Ltrl. Glyncoch Communlty Centre. Clydxh Close, Glyncoch. PCtyprfjdd. Rhondda Cynon Taff. CF37 3DA. Dlrectors l Trust••s: A tN)ard of directors I trustees glve overall strategic direction to the organisation. Board members see themse as being ultimately accountsble to the der ¢ommunity and ore developing a ¢ommunity'membership SGheme'. Conwlting with the widor ¢ommunity and creating opportunitie5 for all ages to play ? role in wmmun 90vemance which 15 integral to the ethos of th8 organisation. Who Arn Wg? Chair.. David Davies A resldenl of ne8Y Pontypridd with ts¥o children educated loc81ty and fifteen ye8rs experience as head teacher at Cefn Primary School in Glyntsxh. managing a budget of £750.000 and 24 staff. A strong personal commitment to the wellbeing of chiklren and communty development has led lo the role of chair of a f0518r pan61. extsn$fve involvement In the YMCA movement, Involvement In Glyncoch Communltles Flrst nce Inception. Company Secretary: Lyndon Bengough Lyndon hos been actively involved in Glyn¢och for over 20 yews. He has had extensive involvemwrt in Communrties First for the last 8 years 8$ vice ehair and chair of the partnership. With over nty yoars experienGe as a board member of wnrnunty org8nisplion5 he has experience of running a suGcessfvJl business ?nd employing local people. LyrKlon is also an eleded member of Ponlywd Town Cwncil.
GLYNCOCH COMMUNITY REGENERATION LTD TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS, REPOR FOR THE YEAR ENDED 31 MARCH 2023 Board Member. Area of ResponsIlIty.. Put41c Relallons Councillor Dg Wlliams Twelve years experlence as electe(I member, 35 yfraTS experience as secretary of local RAOB #nd over 30 years expernce at senior rnanagement level in both the private sector and local govemmant. kn adive communrty advocate has been instrumgntsl in tho development of Ihg now Communty Centre. Board Member.. Neil Llewellyn Born and bred in Glyncoch Neil has aayS been a huge supporter of communty proleGts. He became a member of Pontypridd Town CDuncil representing Glyncoch last year and was inv'rted to join the regenerallon committee thls year. He has worked as a care worker for 8 years and wag an assistant manager in an assisted Iwlng propety managing 10 stsff. He n¢)w manages his wife's pub, line managing a team of five staff. The pub is healY Involved in events lor its local communty Ilhe Graig), including running charfty event$ and day trips for both 8dults and chlldren. They also host pae8 for Chrfstmas , Halloweon and Easter for the thIldn. They also host the Graig Senior football team, Ciltynydd Senior Football team, all playing out of the pub as 11 as a junior secth)n wNch 8tarted last season.
GLYNCOCH COMMUNITY REGENERATION LTD TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2023 Board Member: Arga of Responsiblity: Finawal Management IICT Keith Lthvis A local community activlst who Ilvgs In Glyncoch wlth wlfe Susanne. H8 has registered and operated his ON ompany as a solNvare consultant. As well as bging employed part timo as a comput8r programm8T arKI member of a k)c81 church. H8 18 a fwnder member and trustee of another local charity- PONT- whth Pontypridd with a region of Uganda. Hg has b8en particulady Involved in finance and regulatory aspects of running this charity and is keen to $09 how th918swn$19grnt from running mmunty devekJpm8nt projects in Africa with PONT might be apled to making a difference here in Glyncoch. Key Managgm•n¢ Personn•l Cheryl Davies- Lead Officer Angela Cook- Finance Officer Indep•ndent Examlnors A2ets Audit Servitss, Ty Den, Llme Treè Court, Cardrrt Gate P4Js5ness Park, Cardlff. CF23 8A8. The tfUStee8' report wa8 approved by the Board of TTU8tee8. Lyndo Dat•d. .Z(a...-.A.?.-..? 10-
GLYNCOCH COMMUNITY REGENERATION LTD INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GLYNCOCH COMMUNITY REGENERATION LTD I report to the Irusloes M my examination of the flnandal statements of Glyncoch Communlty Regeration Ltd (the charity) for the year ended 31 March 2023. Ro$Pon$lbllltb$ and basls of roport As the trustees of the charlty {and also its directors for the purpose8 of company law) you are responwblo for th& pieparation of the financiol statements in COrdanCe wlth the requlremants of the Companies Act 20C (the 2006Act). HavlrvJ satisfled myself that the finandal statements of the d)arty are not required to be alIted under Part 16 of the 2006 Act and are eligible for independent examination, I report In Te5pect of my examination of th8 charity's financl81 stalement5 carrfed out under sedon 145 of the Charltles Act 2011 (the 2011 Act}. In caThwng out my examination I have fdl¢)wed all the applicable Directions gNen by the Charfty Commlssion under Sect 145(5)(b) of the 2011 Act. Indepèndent examlnerfs 8tatsmenl I have completed my examination. I confirni Ihgt no matters have come to my 8ttentlon in connection wth th8 examlnatlon grving me cause to believe that In any material respect.. aceounting records were not kept in respect of th8 charity a5 requir8d by secticfi 386 of the 2006 Acl; or the flnanclal statements do rl accord th those records., or the financial statements do not comply vmh thg accountirvJ rvIreMents of se¢tion 396 of the 2006 Act other than any requirement that the awunts give a true and fair view %ich is not a matter consid&ed as part of an independent gxaminab'on- or the financ481 statements have not been prepared in atLordance the methods and principles of the Statement of Recommended practi for accounting and reporting by charilles applicable to charitles preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021. I have no tsjncems and have come a¢ross no olhet matters in conn8ction tmth the examination to lch attention should be drawn In this report In order lo enable a proper understanding of the financAal statements to be reached. ClalroThomp$on FCCA DChA Azets Audit SeTvices Ty Derw. Lim& Tree Court Cardrff Gate Business Park Cardiff CF23 8AB United ngdOrn Dated.. 1-I7-Ioi-3 11-
GLYNCOCH COMMUNITY REGENERATION LTD STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOMEAND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 Unrestricted Restricted funds funds 2023 2023 Total Unre8trfctsd Re•trlcted funds funds 2022 2022 T¢)tal 2023 2022 Notè# ncome from: Donations and legacies Charitable activibes Other IradNig octivilies Investments 59 4,689 135.572 4,748 135.572 3,819 3,619 119.711 119.711 21.916 209 21.916 209 21.846 92 21.846 Total Incomfr 22.184 140,261 162.445 25,557 119,711 145.268 Gharitsble adivities 22,057 202.330 224.387 24.228 185.638 209.886 Net Incomellexp•ndltUTo1 for the yoarl Net movom8nt In funds 127 162.069) {61,9421 1.329 185.92n (84,5981 Fund balances at 1 Aprll 2022 80.392 674.482 754.674 79,063 740,409 819.472 Fund balances at 31 March 2023 80,519 612,413 692,932 80,392 674,482 754,874 The statement of financial activiltas includes all gains and10$sgs r8cognis8d in the year. AJI income and expenditure deriv? from ¢onlinuing adivities. The stalernènt of ffinan81 activities also ccmklies wllh the requlrements for an income and expendllure 8cts)unt under the C¢)mpanies Acl 2006. 12-
GLYNCOCH COMMUNITY REGENERATION LTD BALANCE SHEET AS AT 31 MARCH 2023 2023 2022 Flxod a*sets Tanglble assets Currenl assets Debtors Caèh at bank and In hand 12 611.419 674,486 13 14,276 73,736 12,220 73,082 88,012 85,302 Croditots: amounts falling due wlthln one year 14 {6.Wa91 (4,884) Net current assets 81,513 80,418 Total aggets less current Ilabllltles 692,932 754,874 Income funds Restricted hjnds 16 612.413 874,482 Designale¢J funds General unre8trIcted fund8 17 36,343 44.176 38,833 43.559 80,519 80,392 692.932 754.874 The company is entitled to the exemption from the audit roquirement contsined in SeCt)n 477 of the Comp8niesAcl 2006. for the year ended 31 March 2023. The dirgCtQf8 acknowledge their responsibilf(ies for cOMpng wslh the requirement8 of the Compani8$ kt 2006 with respect lo accounting records and the prepai8th)n of financial statements. Th8 memters h8ve not required the company io obtain an audit of its financial statements for th& year In queslon In accordance with section 476. These finantial 8tstements have baen prepaTed In accordanc8 wAh the provl8lon8 8ppllcable to comp8nies subject to th8 small companies rogirne. The finanaal ¥tatemgnts were aDDrovg(I by the Trustees .. Davld Dav1 - Trn$te• Company Reglstratlon No. 7181436 13-
GLYNCOCH COMMUNITY REGENERATION LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accounting pollcl Chartty Infomiation Glyncoth Community Regenergtion Ltd is a priva18 company Imited by guarantee incorpofated ui ErKJland and th&les. The registered Offi i8 Glyncoch Community Cgntre, Clydxh Close, Glyncoth, Pontyprhjd. Mid Gl8morg8n. CF37 3DA, United Klngdom. 1.1 AcGountlng conventlon The financial statefflents have been prepared in cordanCe with the th8rity'8 govemino document, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Praclice applicable to chatieS preparing their aonts in accordance with the Financial Reportillg Stsndard applicable in Ihe UK and Republic of Ireland IFRS 1021 (effective 1 JanUY 2019)". The charity Is a Publlc Benefft Entity as defined ty FRS 102. Th& thaTty has taken advaniage of the provisions in thg SORP for tharities applwng FRS 102 Upd Bulletln 1 not to prepare a Statement of Cagh Flows. The ffin8nCtal statements a prepared in sterling, which 15 the fvnctional currency of the chamty. Monetary amounts in thes¢ finan¢ial ststements are roundgd to t ngar9sI £. The financial stslements have begn prepared under the historical c¢st convention. The principal acwinting policies adopted are sel out below. 1.2 Golng concern At the lime of apprwng the fjn8nci81 statements. the trustees have a reasonable expèctstion that the cherity has adequate resources to ntInue in operational eStenCe for the foreseeable future. Thus the trtee9 ntinue to adopt the going corK8rn basis of accounung in preparing tlie fina181 slalements. 1.3 chaTble funds Unreslrfcted funds are avallable for use al the discselion of the Iruste8s in furtherance of thelr chadtabte objectives. Designated funds comprise funds which have been set aside al the discretion of the trustees for specific purposes. The Purposes and use8 of the designated funds are set out in the notes to the financial statements. Restricted fijnds are subject to specific conditlons by dor1$ as to how they may be used. The PU and usgs ofthe restricted funds are set out in the notes to the ffinancial ststements. 1A In¢om• Income Is recognlsed when the eharty is legally entitled lo it after any performar¢ce condition8 have bè¢n met, the 8mounts can be measUd reliabty. and it is probable thot income y11 bg roceived. Cash donauons are recognised on r8celpt. Other don8tion8 Are recognised once the ¢harity has begn nolffted of the donation, unless performance conditions require deferral of the amtsjnt. Income lax recovera8 in rektion to donations received under GiftAid or deeds of covenant 18 recognised at the time of the donation. value of services provided by vdunteers has not been Included In these accounts. Income from government grants. ether capltsl, or 'revenue' Is recognlsed when the the ch IBS entitlement to the funds, any performance conditions altached to the grants have been tt, it is prrJ)gbk that th8 incom& will be Tec8ived and the amount can be measured relkqbly and not deferred. Capftal grants are classified in restricted fijnds with depreciation charged against the fund. 14-
GLYNCOCH COMMUNITY REGENERATION LTD NOTES TO THE FINANCIALSTATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accountlng pollcles {Continu•d) Room, venue hire and Consultancy incom8 is indud8 in the accounts when the seNice is provided. Income from investments18 induded in the accounts then the receipt Is prcbable and the amount receivable can be measured rellably. 1.6 Expendlture Expenditure is recognised once there is a legal or constru(*ve obligation to make a paym8nt to a thlrd party, it is probable that setU8ment will b? required and the amounl of the obligation can be me88ured reliably. Expenditure on Charitab actlt9 include5 811 costs relaknng to the furtherance of the charftys objectNes as staled in the trustees report arKI Ihglr assoclated supwrt cost& Suk¥)Ort costs have been allo¢ated betsfftn govemance costs and other support. Govem8nce costs comprise all costs invthng pubtic accountability of th8 charity arKI its compliance with regulation and gcod practlce. Support costs include central functlon8 and have been allo¢atsd to aGtivty Gost categorfes on a trA818 consistent the use of resources. Nettlng off of Income and expendlture Income and expenditure are slated 9ro8& 1.6 Tanglble flxed assets Tangible fixed assets are Inltlally measured at C08t and 8ub8equently mea6ured at $t or Vuatjn, net ot depwiation and any impainnent losses. Depreciation 18 recognised so as to 118 off lh8 Cost or ValUatn of assets less their residual values over thgir Useful lives on the folln9 bases.. Communlty centre Plant and equipmènt 5% stralght Ilne 25% reduelng balance The galn or Ios6 arfslng the dlsposal of an asset is determlned as the dlfference l)etsveen the sale proceeds and the carrying valwd oflhe asset, and is revJgnised in the staternent of finanoal adivities. 1.7 Impalmiènt of Ilxed 8•ts At each reporting end date, the Charity ravigw$ the rryIng amounts of its tangible assets to detarniing whether there 1$ any Indi¢21ion that those assets have suffered an impainnent loss. If any such indration exists, the recoverable amount of the 883et is estimated in ordar to d8t8fmine the extent of the impirm8nt 108s lif any). 1A CaBh Jnd caBh equivalonts Cash and cash equivalents include cash in hand. deposits held at cam with banks, other short-lem liquid imiestments wNh orlglnal m8turhles of three months or less. and bank overdrafts. Bank overdrafts are shown within bcirowings in ryenI liabilities. 15-
GLYNCOCH COMMUNITY REGENERATION LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accountlng pollcles (Contlnuedl 1.9 Flnanelal Instrumènts The tharity has elected to appty th8 provisions of Sedion 11 'Basic Financ4al Instruments, and Section 12 'Other Financial Instrum8nts15sue5' of FRS 102 to all of its financial instruments. Financial instrumants are rècognised In thè charfty's balanL 8heet en the carlty becomes paty to Ihg tractual PTQViSions of fhe instrument. Financial assets and liabilthes are offset, wllh the net amounts pres8nted in the finawal slatements, when there 15 a legally enforce8ble right to set off the rttogni8ed amounts and there is an intention to settle on a net basls or to r881ise the asget and 88tt18 the liablllty slmuttaneously. 31¢ financial Jssets Basic financial asset5, vthich indude debtor8 and cash and bank balances, are initi'ally measured at Ir8nsactlon prts Indudlng Iransactlon costs and a subsequently carried al amortised cost usng Ihe effective interest method unle88 the arrangement constitutes 8 financing transaction, vrfh8re th8 transartion is meaSud al the present value of the future receipts discounted 01 a markgt rale of Intgr9St. Flnandal a$sgts classffied as receivable wlthin one year are not aM0sed. Dèrneognition of finènci818ss•ts Financial assets are derecognised only when the contractual rights to Ihg cash fl¢)ws from tho asset expire or are settled. c¢ when the charity transfers the financial asset and subslantialty all the risks and rewards of ownership to anoiher entity, or if some signrficant risks and rewards of ownership are retained bul control ot the asset has transferred to another paty that is able to $811 the asset in ils entirety to an unrelated thir(I paty. Basie financlal Ilabilitles Basic financial liabilities, induding creditors and bank loan5 are initially recognised Bt transaction price unl8SS Ihe arrangement nStitUteS a finanang Iransacllon, where the debt instrument 15 measured at the present value of the future payments discounted at a market rale of interest. Financial liabilitios dassified as payable within one year are not amortised. Trade credit8 are oblJaticfis to pay for goods or services that have been acquired in the ordinary course of operatknns from suppllers. Amounts payablg are classified as current liabilrtle5 if payment is due within one year or less. If not, they arg prosentgd a$ non-currgnl liabilits8s. Trade creditors are recognised inrb'aly at transoclion pri¢e and subsequently measured It amorti$ed cost usbng thè effeclfive Interest method. Derncognlllon of Ilnanclal Ilabllllles Financial liabilibe$ are derecognised en the chanty'$ ¢onlr8CtU81 obllgatrons expire c are dIharged or cancelled. 1.10 Employee benellts Th8 Cost of any unused holiday enlrtlement is recogni$6d in thè perlod In whkh the emF4oy8e's servic88 a roceived. T8nninatlC benefrts are recognised immediately èy an expense when the charfty is demonstrably C£•mmitted to termlnate the employment of an employee or lo provide temination benefrts. 1.11 Rellrernenl b•n Payrnents to defined contribution retirement benefit schemes are charged as an exp80 as they fall due. Costs are allccat9d been unrgstridgd and rgstricted funds. 18-
GLYNCOCH COMMUNITY REGENERATION LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accountlng poll¢s (Contlnu•d 1.12 Taxatlon A8 a registered cthsrity, Glynccth Community Regeneration Ltd is entitled to the exemption from taxation respect of Ineome and capttal galns recelved wlth sectlons 478489 of the corporation Tax Act 2010 se¢lion 256 of Taxation of Chargeabio Goin$ Act 1992 to extent that these are appligj to its Gharitable oblects PLsrpowJ only. crftkal acGountlng estlmates and Judgements In the application of the tharity's accounting poli¢ies, Ihg trustees are rgquirgd to make judgements, eslima18S and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions gre bosed on historical eXperIen and other fact( that are considered to b8 relevant. Actu results may differ from these estimates. The estimatès and underlwng assumplions are rewewed on an ongoing basis. Revisions to accounting estimates are recogni3ed in Ihe FEriod in lch the estimate is revised wthere the revision affects cnly that riod. or In tho porlod of tho ra10n and futuro pèriodB whérè tho rovision affects both current and futw Feriods. Donatlom and legacles Unr88trfctsd R•8trlctod funds fvnd8 Totsl Unrnslrl¢ted nds 2023 2023 2023 2022 Donions arKI gits 50 4,689 4,748 3.619 Charitabl• activiti•8 2023 2022 Grants 135,572 119,711 Grants Restrlctsd grant Income 135,572 119,711 135,572 119.711 17-
GLYNCOCH CO,MMUNITY REGENERATION LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Other tradlng actlvltles 2023 2022 Venuo hire and rent Consultancy and other services provided 16,800 5,116 18,970 2,878 Olhertrading athiitigs 21,916 21,846 Investm8nts Unrestrlcted Unrestrfcted fvnds nd$ 2023 2022 Interest receivable 209 18-
GLYNCOCH COMMUNITY REGENERATION LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Charfiablo adlvltl•s 2023 2022 Slgff costs Dgpr8ciatioTr and impainnent General costs of charitable adv6tle$ InvJJranc8 IT costs Premises wsts pfln9, postsge and 8tsk)nery Telephone and intemet Training and other $taff eosts 103.337 63,037 18,443 3,622 3,316 24,623 1,675 1,243 2,184 1¢,929 63,317 11,307 3,248 4,514 19,534 1,164 1,174 2,212 221,480 207,399 Shale of support C06ts (see note 8) Share of govemance costs (see note 81 $67 2,340 247 2.220 224.387 209.866 Anotysis by fund Unrestricted funds Restricted fijnds 22.057 202,330 24,228 185,638 224,387 209,886 SupportC08ts Support Govérnanc• costs costs 2023Support costs Govemanc8 cost8 2022 Bank Charges 567 567 247 247 Independent examinaitc 2,340 2.340 2,220 2,220 567 2,340 2,907 247 2.220 2,487 Analy8ed bean Ch8rrtable activities 567 2,340 2,907 247 2,220 2,467 Included in the independent examiners cost above are £500 {2022: £500} for accountancy servi. 19-
GLYNCOCH COMMUNITY REGENERATION LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Thlgtees None of the trustees lor any persons connected with them) received any remuneration or benefit5 from the tharity during the eJJrrent or prior year. In 2023 ljvo truste8S Were reimbursed gxp8n58S totalling £1,423 for rtems purthased on behalf of the tharity {2022.' Three truslges were reimbursed £127 for expgnses). 10 Employoos Th& average monthly numb8r of 8mploye88 during tho year was: 2023 Number 2022 Number Employment ¢ts 2023 2022 Wages and salarles Social security ¢XJ$ls Other pension costs 96,881 1,7S8 4,698 94,034 2,328 4,567 103,337 100,929 Key management peygonnel The key management personnel a8 detsiled in the trustees report received benefits Iconsisling of gross salary. employers national insurance and emF4oyers pension) totalling £38,58512022'. £37.9031. Employees eamlng > £60.000 There were no employees durlng the current or previou8 year0 fecelvvJ benefits In excw38 of £60.000. There wore Tr) empl¢)ye8s whose annual remunerati¢)n was more than £60.000. 11 Taxatlon Tho tharty Is exempt from tsx on Income and gain8 falllng thIn section 50S of the Taxes Act 1988 or sactlon 252 of the TaxaonOf Chargeable GalnsAcl 1992 ID the extent that these are applled to ks charttable objects. -20-
GLYNCOCH COMMUNITY REGENERATION LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 12 Tanglb1•flX aM•ts Communlty Pl•nt •nd equlpm?nt Cost Al 1 April 2022 1.163,459 45,261 1,208,720 At 31 March 2023 1.163.459 45,261 1,208,720 Deproclalion and Impalm)ont Al 1 April 2022 Depreciation charged in the year 500,333 58,173 33,931 534,264 63,037 At 31 Marth 2023 558.5C6 38.795 597,301 Carrylng amount Al 31 March 2023 804,953 6,486 611,419 Al 31 Mar¢h 2022 663,126 11,330 674,456 13 Debtor4 2023 2022 Amounts falllng due Ythhln one yur. Trade debtors Prepayments and accrued income 13,069 1,207 11,049 1,171 14,276 12,220 14 Cr•dltors: amounts falllng due wlthln one ymr 2023 2022 other tsxation arKI s(Kial secufty Trade creditors Otl*r ¢redrtors Accrual8 and dèferred Income 1,547 1.825 787 2,340 1.274 1,170 220 2,220 8,499 15 Retlrnm•nt benefft schem D•flned contrlbutlon schemes The ¢harity operate$ a dèfined contribullon penslon Scheme for all qualifying employees. The asset8 of the scheme ar8 held separately from th¢)se of the Gharity in an 1ndeperKIent administered fund. Pension costs lotslled £4,69812022.' £4,7). There wer6 amounts outslanding at the year tolalling £822 12022. £2201. 21
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GLYNCOCH COMMUNITY REGENERATION LTD NOTES TO THE FINANCIAL STATEMENTS {CONTINUED> FOR THE YEAR ENDED 31 MARCH 2023 17 Deslgnaied funds The income fvnd$ of the ¢harlty indude the foll¢)wing designated funds vthich have been sel aside OLt of unr8Stricted funds by thè trustees for speafic purposes.. Balance at R880urcw TrnnBf•rn BalarK• at R•50urr•s BalarK• at 1 Aprfl zrJ21 exnd¢d 1 Aprtl 2022 •xp•nd•d 31 Mar¢h 2023 Fixed assets Planned paIrS fund Building fund 5.323 2,174 33,000 {4WI 4,833 (4901 4,343 (2,1741 11,IXIOI 32,000 32,000 40,497 (490} {3,174} 36,833 1490} 38,343 Communty centre- the Community Centre is run as an investment centre wthin the charity. The idea 18 that it generates enough Income to pay for ils running costs such as pur(*asing stock for resale, covering repairs, maintenance and ullllty bllls and purchasing assets for use by th8 98n8ral public. The irttjme generated has, so far, Vere(l these outgoing$ and any surplus is carried forward into tho followng financial year. This fund wa$ released during 2020 and has been re8Slocated to the buildlng furKI noted below. Fixed assets represents the functional fixed assets lfith'ngs and equipment) used to fvrther the eharity's aims that do not have restrictions placed on them. Plann8d repairs fund- represents amounts designated for utlllsation In fLrture Ferlod8 for eommunty centre repalrs. 8ulkllng fund- represants amounts designated for utili5ation in fiJtLFre periods for the phase 3 build. -24-
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GLYNCOCH COMMUNITY REGENERATION LTD NOTES TO THE FINANCIALSTATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 19 Company $tatu8 The company 18 limited by guaranteg and a$ $uch. has no share capital. Related party tra Th88ction8 Tlkre were no ¢Ji8closable related paty transactions during the year12022- mnel. -26-