Charlty resistratlon number 1142855 Company r•glstration numbèr 7181436 {England and W•lesl GLYNCOCH COMMUNITY REGENERATION LTD ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
GLYNCOCH COMMUNITY REGENERATION LTD CONTENTS Page Chairman's statement Trustees. report Indepèndent examinèls report Stslemenl of n8ftal activities 10 Balance sheet 11 Notes lo the finanaal statements 12-25
GLYNCOCH COMMUNITY REGENERATION LTD CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 Chair's Foreword Glyncoch Community Regeneration 202>2024 financial year has been interesting and challenging. The community centr& has been hil by the rising ¢ost-of-livin9 crisis and very large energy bills and we supported the individuals we could in the community. We aro awa that this has affected individuals, businesses and charities across the COLJntry. Slafflvolunteers and Trustees have continued lo work both face-to-fa¢& and online mr>ving more to tsce-lo- face sesslons only during the year. We have been able lo offer learning opportunities., access lo employment support,. volunteering opportunities,. services for young people., and the Glyncoch Community Pantry, with Glyncoch Community Centre b8ing open lo provide the wid8 range of serrfices and signposting lo additional support services when required. 11 has been anothor interesting year with changing priorities, with each month bringing its own challenges alongsidtr our goal to ensure the people we serve, and support are at the centre of all our work. Finally. I'd like to say a big thank you to: RCTCBC CFW & CFW+ Projgcls Craig yr Hgsg Primary School Celn Primary School Pontypridd High School Job C8nlre Plus & DWP Welsh Governrnenl Flying Start Gruffalo's Den Glyncoch Community Amold Clarf(e Community Fund The Blakemore Foundation Pèriod Dignity Grant Sustainable Prosperity Fund RCT CBC County Councillor Glyncoch Town Councillors Assernbly Membèr, Cynon Valley MP Cynon Valley Glyncoch Tenants & Residènts Association Neighi)ourly Scheme- Lidl & Sainsburys Pontypridd Trussg11 Trust- Pontypridd Food Bank RCTCBC YEPS Tean) Gabby Dunn Jurnp Fil Fuel Bank Foundation Monmouthshire Building Society RCT Together Wami Room Grant Bryncynon Strat&gy Pendoryn Gommunity Cèntre Chaimian Dated..
GLYNCOCH COMMUNITY REGENERATION LTD TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Thg trustees pr8S8nl their annual report and financlal statements for the year ended 31 March 2024. The financial stslemènls have beon prepared in a¢cordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's governing document, the Companies Act 2006 and 'Accounling and Reporting by Charities.. Statemènt of Recommfrnded Practice applicable lo charities pparIng thèir accounts in accordance with the Finanaal R@portlng Standard appllcable in the UK and Republic of Ir8land IFRS 1021 (effective 1 January 20191.. Objectivès and actlvltle8 Oblectlvas Our objectives are focused upon relieving poverty and hardship in and around the community of Glyncoch and surrounding areas. These are sel out in detail in our Mernorandum and Articles of Association. Vlsion Our vision is for Glyncoch and surrounding areas to be a sustainablg community which fosters well1Ing, prosperity and achievemènt. Mi$$ion We promote social cohesion, building upon the l¢)cal communily spirit lo provide a means by which local Ople can btr al the heart of meaningful change, unleashing the potential within our community- Social and Economic context Glyncoch is a post war council housing eslale two miles north of Ponlypridd in Rhondda Cynon Taff. A close-knil Community with a strong sense of identity, and close proximity to universities, Cardiff and rail and road infrastructure, Glyncoch has considerable potential. However, in the ward-based Index of Multiple Deprivation developod in 2011, Glyncoch was categorised as the 39th Most disadvantaged ¢ornmunily in Wales, scoring poorfy in areas relating to child poverty and household income. 2001 Census datÈ shows that 4eUk of 16-24 year- olds are not engaged in employment, education or training and that educational levels are ralatively low. There are also higher numbers of people experiencing ill health and disability,. more recent data suggests that similar issues of disadvantsge stlll exi8t. Purposo of Glyneo¢h Community Roggneration Ltd Glyncoch Regeneration Ltd is a company formed by local p8opl8 who are passionate about thelr commLmily lo act as a vehicle or a driver for the regeneration process in Glyncoch. Al present, this means hosting the local Cornmunitles For Work+ team. and two part-time staff and runs Glyncoch Community Centre which ènhance the social, economic and environmental sustainabllily of the village through a close partnership with the Glynco¢h Tenants & R9sidents Association. Key Alms and Objèctives Overall Aim-. "dèvglop a healthier, morg prosporous. economically, socially and environmentally sijstainable community where everyone is able to realise thair full potential. Key to the rgganeralion of the area is also a ploasanl physical environment with good access to tha natural environment and access lo high quality community amenities, activities and services. Underpinning this vision is the partnerships, kay objèctive to build on Glyncoch's unique strengths as a elose-knit community wlh good levels of active citizenship, to create a lully incSusive, democratic syslem of Gommunity govemance able lo Influence and effect change" Strong local groups and social netwod(s which will support people of all ages to aChve their personal polenlial and to feel safe and securo. KeyArea$ of Work.. To undertake high quality community development work to fosler a Cultu of 8clive citizenship, social cohgsion and support localpeople of all ages lo be involved in improving the local Gommunity. To promote a strong culture of health and w&llbeing, leamlng and mutual support enabling people lo achieve theirpotenb'al.
GLYNCOCH COMMUNITY REGENERATION LTD TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 For GlyncDch and surrounding areas lo bè a prosperous community with a strong, 8uslainable local economy and strong links and access to the widgr economy. KeyArèas of Work." To support loGal people to increase household inGome through access to fraining. career, business and job search support as wall as through ac¢e88 lo ben&fits advice. To facilitate investment in the community through grants, fundraising and working wffth seThice provid8rs to tailor th8irprograms to meet the needs of the community. To help delOP social entery)rises which will create jobs and maximize the impaot of investment in our community and ultimately enable us to C8rry out our work without being gh7nt dopendent. Ke To support GlYh to enjoy a pleasant environment and become more resilient to the negative impacts of climate change and rising energy prices KeyAreas of Work.. To develop &nd malnlain high quality community Spaces. To fa¢ilitate improvements lo urban environment. To dev61op lood growing space. To protect and enhance natural habitat$. Public benefit The promotion for the benefit of the public of urban or rural regeneration in areas of social and economic deprivation land in particular in the community of Glyncochl through a variety of means {8ee Mem of Arts and Assoc). Achlov•ments and perfomiance The organisalions, main activities for the r8porting p8ri¢xl have focused on the provision of- A community contr& Delivering work clubs online, via telephone and face-lo-face Youth Provision for young people delivered by RCT Yeps Youth workars Educational Activities online and face-lo-fac8 Hgallh & wellbtsing a¢tiv((ies including cooking dasses Food Pantry and stsrted a Community Cafe Crisis Support A Community survey Achievements in the Communlty and 8urroundlng areas in meeting the charfty objects So¢lal Health & Wellbeing activities such as Jumpfit Sessions for adults have been delivered. We restsrted our Games Night club for 5-11 year-olds on 4th March 2024 and had 66 children attend over the four weeks with highest number of 46 attending during one session. 14 volunteers throughout the year who supported finan¢e, the nèighbourly scheme. games night, cafe and the pantry with hours tolalling 1,753.15 hrs. We supported a community carol service held in December 2023 in the middle of the comrnunity, deliVed by community members from the Rugby Club and we then went back lo Social Club where refreshments and a tabletop sale were held. We hope lo build on thi8 for 202425. The community café started on 19th October 2023 with numbers averaging 14 in October and dropping to average of 11 in March 2024., we looked at increasing publicity of Cafe. We also had the Food Hygiene Inspèction on 8th February 2024 where we maintained the 5° Food Safety Ratlng. We also held several tabletop sales through the year.
GLYNCOCH COMMUNITY REGENERATION LTD TRUSTEES. REPORT {CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Econom1¢ Work Club$ This yèar has delivery of work club has been a mixture of rernote and fac&tO-face sessions. There were 279 remote sesslons being delivered between 1 st April 2023 to 31 st M8rch 2024. Face-lo-face sessions were h6ld in In Glyncoch Community Cenlre, Rhydyfelin library, Llantrisant Job Centre and in Pontypridd Job Centre. There were 202 face-lo-fac& during Ihg year. This was Su8$$fUl and we worf(ed with a total of 349 participants including 327 new participants throughout the year during 381 work clut> sessions. We managed to record 11 job oulcom8s in the year and 108 referrals to other services. Al the beginning of the year the organisation employ9d 4 members of staff for the Cornmunilies for Work + project in April 2023 with funding from the Legacy Fund from the Welsh Government Commissioned by RCTCBC to deliver and support the work clubs across the Taf and Glyneochlynysybwl area. The organisalion also employs a part lime cleaner paid through Legacy Fund and Glyncoch Community Centre and a part lime cataker paid by community centr¢ who left on 7th May 2023 for a promotion in hi5 full-time job. url We are part of the Nèighbourfy collection scheme wherg we colled left over food fwm the local supemiarkat which is then distributed free of charge in the community. Collections from two local supermarkets were made during thg year and this supported community sIdents with bread, bakery and other free items. reducing the amount of waste baing pul into landfill. Envlronmentallsustainabllity Glyn¢o¢h Communlty Pantry Since D8¢ember 2020 we have been running a food pantry addressing food povety and food waste. Our pantry has the following characlerislics-. 1. It is a membership s¢herne wherè registered members mako a small weekly Contribution 1£4} Ènd choose food from th8 Stock held. We are open one aftemoon a week. 2. To avoid any stigma no 'means-lesl" is applied, we are a club open to all who live in Glyncoch and the surrounding area. 3. The stock is mostly sourc8d from the charity F8reShare Cymru which has access to surplus food from supemiarket warehouses. We supplemenl this with food purchased using members contributions. 4. The scheme is run by volunteers drawn from the membgrship wth the support of GCR. 5. The scheme is financially self-sustaining, the running costs are met through the members. conlribulions. The main outgoings are the faès ¢harged by FaroSh8re Cymru. 6. The food distributed includes dry food, tins, fresh fruit and vegetables. chilled and frozen. 7. A points System is used lo enssjre fair distribution of the available food. Most items are assigned 1 point. Typically, mombers are given a limit of 12-14 points per week. 8. Fresh fruit and vegetables do not count towards this points Ilmil - this helps increase the proportion of healthy food collected by members. The scheme has grown mostly through word of mouth. It has also been advertised through social medk4, posters in shops and through the local primary schools. The need for the project has intensified with the ongoing ¢osl-of- living increases. Feedback from mernbers has been very positive. Here are some of our achievements during this financial year.. 129 households are registered as members. On average 26 members attend8d the sessions each week in January 2024. Over a recent 3-monlh period 71 households have benefited from the Pantry- 123 adults and 72 children. The scheme is meetlng ils running costs. We were grateful lo re1ve £1,500 In grants from Intertink and £500 from RCT lo provide additional foott. A total of 9,600Kg of food has begn distributed this year. Members hav8 received about 7Kg of food al each visit, signtficantly ru¢ng their food bill for the week. We now sgrve coffee and cake during the s8ssions, giving members a valuable opportunity for social Interalan.
GLYNCOCH COMMUNITY REGENERATION LTD TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 We continue to involve memb&rs in tha decision-making on thè project to ensure that it 1$ SponSIvE to their needs and lo 8nsure that they have a real sense of owning the project. As numbers are now loo large to ¢anvas every m8mber. we have set up a repres&nlative committee elected by the members. They meet about 4 Ilmes per year to review progress and make plans for the next period. Key soure•$ of funding A great deal has been achieved in GlynCh over the last year. For the reporting period, funtting velS are as follows.. We hav8 been commissioned lo deliver a third year of wotk clubs for RCTCBC funded by the Legacy fund through a service level agreement to the value of £127,985 of which w8 spent £127,985. Interlink Gwirvol Fund £500 for the youth to make plants in inlergenerational project re1v 6th February 2020 (Project currently on hold due to COVID-191. We are still holding this money. Arnold Clark Community Fund £750 which was grant¢d 28th March 2022 caled forward funds into 23-24 financial y&ar. £400 volunteerin9 SUPPOrt for panty volunteers from Consortium grant with Bryncynon Str8tègy Penderyn Community Centre. £240 volunteer grant on 27th March 2024 from Consortium grant via Bryncynon Strategy. £400 from Trivallis on 29th September 2023 to support the setup of the Community Café. £500 food pantry food supplies grant from RCTCBC on 6th March 2024. £500 on 31st March 2023 from interlink to support the food pantry. £1000 on 9th August 2023 from Interlink to support the community pantry. £2.000 from Trivallis on 28th March 2024 for the Tenants & Residents Fund forthcoming action plan 2024-25 held by GCR Ltd for activities. We also received period products from a RCTCBC Grant lo reduce the impact of period poverty in the communty. These are available to thosg attending the communlty ¢*ntre identified as in need. Organlsational D•v&lopm¢nt Achievem•nt$ Very committad staff working hard to help people bring about change Continued partnership with various departments from RCTCBC, Interfink, Department of Work and Pensions IDWPI, Camau Cyntaf running Gruffalo's Den, NeighbDurly Scherne Lidl & Sainsbury Ponlypridd, Trussell TNst- Pontypridd Food Bank, Bryncynon Strategy & Penderyn Community Centre consortium. SUCssfUl manag8ment of Glyncoch Community Centre Flnanclal revlew The Charty recorded an UnsITIc1ed surplus for the year of £2,19512023.' surplus of £1271. The charity's totsl unrestricted res8rve8 are £76,374 12023.. £80,519), of which £35.854 12023.. £36,343) has been designated. Free reserves at tho year-end lotalled £40,52012023-. £44.1761. We are satisfied that the free reserves are sufficient to miligale against risks identified. The Trustees will review the level of reserves held by the charity al least every 6 months and 18ke appropriate actions lo increase or decrease these reserves towards the target level indtcated above. The charity has restricted roserves of £553,59312023: £612,413) of which £551.72012023.' £607,075) rèlates Its the building of the Phase 1 and Phase 2 of the Community Centre and funding r¢¢eived in advance or unspent al the year-end £1,87312023'. £5,3381. R•ser¥es policy One of the key roles of any ch8rity is to ensure tharè is enough money to sustain the organis8tion and cover any foreseeabl8 ¢osls. 11 is the ambition of the organisation to ensure there are adequate funds within our reserve8 lo eover unforeseenl sudden dosure. This policy reflects the realism of the organisalion with regards to reserves and sets out how it will manage the organisalion and reserves lo ensure good govem8n¢e and risk management. Thè Reserves policy has be&n reviewed this year.
GLYNCOCH COMMUNITY REGENERATION LTD TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 hlARCH 2024 There are two forms of reserves- restricted anct unrestricted. R•$trictod r•rV&S £553,593- as of 31 March 2024 . This is Glyncoch Community cantre and unspent funding. Unrestricted reseN•$ £76,374- as of 31 March 2024. Unrestricted Reserves We aim lo hold enough reserves to miligale against the following costs.. 1. Unplannod repairs neod8d on the Community Centre- £12,000 2. Loss of re9ular rentsl income for Community Centre- £4,000 3. Cosl of winding up Communities for Work + programme- £16,000 We will aim to hold £32,000 of unroslricled reserves to allow for these costs. Othèr risks were analysad bul would be mitigated against by holding this level of resorves. Some of these reserves wll be held in an interest-bearing savings account. Stru¢tura* gov•rnanco and managemant For the reporting period the organisation has been managed by the Communitie$ for Work + Lead 0fer Cheryl Davies who reports diredy to the Board of DirectorslTrustees. Throughout 2023124 work on ansurin9 the Charity remains viable, has proved challenging, with reduced in¢ome sources and limited OPPDrtunilies to stsrt new projects and funding raising activities being extremely difficult. We have continued lo provide servlces in a different way lo deliver on the vision and goals of the organisation. It is hoped that the 2024-25 financial year will bring opportunities for growth and a more sustainable service for the community, whilst balancing tha rise in the cosl-of4iving and increased energy prices. Gov&rnlng Document Glyncoch Community Regeneration Limited goveming documènt is the Memorandum and Articles of AssocSation set out at incorporation on 8th March 2010 and amÈnd8d June 2011. Appolntment of Directors l Trustèe¥ Sel out in paragraphs 31-35 of the Memorandum and Articles of Association. There was one change during the Yoar when Shari Jones joined the company on 17th October 2023. D•elslon making During the reporting period, all decision8 were made by the board. Delegatgd responsibility is given lo the senior employee, Cheryl Davies who is funded by the Communities for Work + Programme. Partners Glyncoch Communlty Regeneration Ltd. works closely wth the Partners to fa¢ilitale and deliver on its vision through the provision of support for learning and employability skills. Together we ¢onsull with wider community and undertake a partnership approach lo the regeneration of the area. A list of key partners are listed in the Chairs FonNard. Dirgctors l Trustets8'. A Board of DirectorsrUst8eS give overall strategic direction lo the organisation. Board members see themselves as being ultimately accountable to the wider community and are redeveloping a communty 'membership scheme,. Consulting with the wid8r community and creating opportunities for all ages lo play a role in community govemance which is integral to the ethos of the organisation. Who Are Wo? Chairperson- David Davi@s Company Secretary & Building Management- Lyndon Bengough Public Relallons- Councillor Doug Williams Financiall ICTIDats Protection - Keith Lewi8 Board Membar- Shari Jones
GLYNCOCH COMMUNITY REGENERATION LTD TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Rof•ronce And Admlnistratlv• Details Name: Glyncoch Community Regeneration Charlty Numb¢r.- 1142855 Company Number.. 7181436 R•gistered Offl¢¢: Glyncoch Community Regeneration Ltd, Glyncoch Communty Cenlre, Clydach Close, Glyncoch, Pontypridd, Rhondda Cynon Taff. CF37 3DA. Dlra¢tors l Trusta&$'. A board of directors l trustee8 give overall strategic direction to the grganisalion. Board members see themselv88 as being ultimately accountable lo the wider community and are developing a community 'membership scheme,. ConsLJlling with the wider community and creating opportunities for all ages lo play a role in community govemance which is integral to the glhos of the organisalion. Who Are We? Chair. David Davies A resident of nearby Ponlypridd with two children edu¢ated locally and fifteen years experience as head teacher al Cefn Primary School in Glyncoch, managing a budget of £750,000 and 24 staff. A strong personal commitment lo the wellbeing of children and community development has led lo the role of chair of a foster panel, extensive involvement in the YMCA movem8nL invdv8menl in Glyncoch Communities First since inception. Company Secretary.. Lyndon Bengough Lyndon has been actively invo5ved in Glyncoch for over 20 years. He has had extensiva involvement ift Communities First for the last 8 years as vice chair and chair of tho partnership. With over twenty years experience as a board member of community organisations he has experi8nce of running a successful buslness and employlng local people. Lyndon is also an elected member of Pontypridd Town Council.
GLYNCOCH COMMUNITY REGENERATION LTD TRUSTEES. REPORT (CONTINUED}(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Board Membor. Area of Responsibility.. Public Relations Counallor Doug Williams Twelve years experience as elected member, 35 years expgrience as secretary of local RAOB and over 30 ye8rs experience at senior management level in both the private sector and local government. An active community advocate who has been instrumental in the development of the new Community Cenlre. Board Mèmbgr.. Arga of Responsibility.. Finanaal Management IICT Keith Lewis A local community a¢tivisl who lives in Glyncoch with wife Susanne. He has registered ancl operated his own company as a software consultant. As well as being empbyed part lime as a compular prograrnmer and a member of a local church. He is a founder member and trustee of another local charity - PONT- which twns Pontypridd with a region of Uganda. He has been particularly involved in finance and regLJlatory aspects of running this charity and is keen lo see how th& lessons leaml from running community developmenl projgcts in Africa with PONT might be appliad to rnaking a diffgrence here in Glyncoch. K¢y Management Pèrsonnel Cheryl Davi8s- Lead Officer Angela Cook- Finance Officer Independent Examiners zets Audit Services, Ty Derw, Lime Tree Court, Cardiff Gale Business Park, Cardiff, CF23 8AB. The trustees. report was approved by the Board of Trustees. Lyndon Be ' Secretary
GLYNCOCH COMMUNITY REGENERATION LTD INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GLYNCOCH COMMUNITY REGENERATION LTD l Teport to the Irusteas on my examinatlon of the financial slalements of Glyncoch Community Regersralion Ltd Ilhe charity) for the year ended 31 March 2024. Rèsponslbllltl68 and basls of report As the trustees ot the charity land also its direGtors for the purposes of company lawl you are r8sponsibl& for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 Ilhe 2006 Act). Having satisfied myself that the financi818lat8ments of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent axaminalion, I report in respect of my examination of the charity'5 financial slalernenls Carried out under section 145 of the Charitiès Act 2fl11 Ithp ?011 Ac.tl. In carrying out my examination I have followed all the applicable Directions given by the Charlty Comrllission under section 14515llbl of the 2011 A¢1. Indepèndènt examlnor's $tal¥ment I hav6 completed my examination. I confirm that no matters have come to my attention in ConnectiL With the examination givin9 mc cause to believe that in any material respect- ccounling records were not kept in respect of the charity as required by section 386 of the 2006 Act.. or th& financial siatemenls do not accord wrth those records,. or the Yinancial statements do not comply with the accounting requirements ol section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an indepèndent examination., or Ihg financial statements hav8 not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable lo charities preparing their accounts in accordance with the Financial Retx>rtino Standard applicable in the UK and Republic of Ireland IFRS 1021. I hav8 no wncems and have come across no othèr m8tters in rnnnAtrtion with the examination to whleh allenlion should bg drawn in this report in order lo enable a proper understsnding of the financial ststements lo be reached. Craig Yearslgy FCCA Azels Audit Services Ty Derw, Lime Tree Court Cardiff Gale Business Park Cardiff CF23 8AB United Kingdom 24 December 2024 Dattrd".
GLYNCOCH COMMUNITY REGENERATION LTD STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlcted Restricted funds funds 2024 2024 Total Unrestrict¢d Restrlctsd funds fund$ 2023 2023 Total 2024 2023 Notes Donations and legacies Charitable activities Other trading activities Investments 4,799 2,540 4,799 131,025 59 4.689 135,572 4,748 135.572 128.485 13.708 13.708 21.916 209 21,916 209 Total income 21.047 128.485 149,532 22,184 140,261 182,445 Charitable activities 18,852 193,645 212,497 22,057 202,330 224,387 Net incomingl{outgoingl resour¢es before transf•rs 2,195 165,1601 162,9651 127 162,0691 161,9421 Gross transfers between ftjnds {8.3401 6,340 Net expendlture for the y•arl Net movèmènt in funds {4,1451 158,8201 162,9651 127 162.0691 161,9421 Fund balances ot 1 April 2023 80,519 612.413 692,932 80,392 674,482 754,874 Fund balane•s at 31 March 2024 76.374 553,593 629,987 80.519 612.413 692,932 The statement of financial activities includes all 9ains and lossès recognised in the year. All income and expendEture derive from continuing aclivilies. The statement of financial activities also complies with the requiromenls for an income and expenditure account under the Companies Act 2006. 10-
GLYNCOCH COMMUNITY REGENERATION LTD BALANCE SHEET ASAT31 MARCH 2024 2024 2023 Notgs Flxèd assets Tangible assets Currgnt ass8t$ Debtors Cash at bank and in hand 12 555,574 611,419 13 4.097 78,347 14,276 73,736 82,444 88.012 Creditors: amounts falllng du• wlthln one y•ar 14 18.0511 16,4991 Nel current assets 74,393 81,513 Total ass•t$ less curr•nt Ilabllltl•s 629,967 692,932 Income funds Restricted funds tricted Designated funds General unrestricted fvnds 16 553,593 612,413 17 35,854 40,520 36,343 44,176 76,374 80,519 629,967 692,932 The company is entitled lo the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 200 with rOspe lo accounting records and the praparation ol financial statemènts. The membeis have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial stslemenls hav@ been prepar8d in accordance wlth the provisions applicable lo companies subject lo the small companies regim8. The financial ststemenls were approved by th8 Trustees on . Z41-_L2- ?r- Z David Davios - Trustèè Company R•glstr4tion No. 7181436
GLYNCOCH COMMUNITY REGENERATION LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting poll¢l•s Charity information Glyncoch Community Regeneration Ltd is a private ¢ornpany limited by guarantee incorporated in England and Walos. The registered office is Glyncoch Community Cenlre, Clydaeh Close, Glyncoch, Ponlypridd, Mid Glamorgan, CF37 3DA, United Kingdom. 1.1 A¢¢ounting convention The financial statements havg been prepared in accordance with the Charitys goveming document, the Companies Act 2006 and 'AUtIng and Repong by Charities.. Statement of Recommended Practic6 applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {effective 1 January 20191" The charity is a Publi Benofil Entity as defingd by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin I not lo prepare a Statement of Cash Fl(Iws. The financial statements are prepared in steding, which is the functional currency of the ¢haTity. Monetary amounts in these financial statements are rounded lo the nearest £. The financial statements have been prepared undgr the historical cost convention. The principal accounting policies adopted are Set (yjl below. 1.2 G¢ing ¢oncern Al the time of approving the financial slatemenls. the trustees have a reasonable expectation that the charity has adequate resources lo continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitablè funds Unreslricled funds are available for use at thg discretion of the trustees in furtherance of their charitsble objectives. Designated funds comprise funds which have been set asid8 at the discrets'on of the trustees for specific purposes. Tha purposes and uses of the deslgnatod funds are set out in the notes lo the financial statements. Restricted funds arè subject lo specific conditions by donors as to how thay may be used. The purposes and uses of the restricted funds are sel out in the notas to the financial slal6m8nls. 1A Income Income is recognised wh&n the charity is legally entitled to il after any performance conditions have been met, the amounts can be measured reliably, and il is probable that income will be received. Cash donations are re¢ognlsed on receipt. Other donations are recognised once the charty has b8en notified of the donation, unless pfjrformance conditions reouire d¢f$rral of the amount. Income tax recovèrable i r6lalion to donations recewod undef GrftAid or de8ds of covenant Is recognls&d at th'e time of the donation. The value of services provided by volunteers has not been in¢luded in these accounts. Income from government grants, whether 'capilal' or 'r8venue' is recognised when the the charity has anlidèmenl lo the funds, any performance conditions attached lo the grants have been met, it is probable thot the income 111 ba racèivgd and the amount can be measured reliably and not deferred. Capital grants are classified in restricted funds with d&preciation charged against thè fund. 12-
GLYNCOCH COMMUNITY REGENERATION LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting poll¢i¢$ (Continued} Room, venue hire and consultancy incom8 is indude in the accounts when the service is provided. Income from investments is included in the accounts when the receipt is probable and the amount receivable can be measured reliably. 1.5 Expenditura Expenditure is recognised oncé there is a legal or constructive obligation to make a payment lo a third paty, it is probable that sotlloment will be required and the amount of the obligatron can be measured reliably. Expenditure tsn charitable activities includes all costs relating lo the furtherance of the chariws objectives as stated in the trLJStees report and Iheir associ8ted support costs. Support costs have been allocated bthfren govemance costs and other sijpport. Governance costs comprise all costs involvlng public accountabillty of the charity and its compliance with regulation and good practice. Support costs include central functions and have been allocated lo activity cost categories on a tosis consistent with the use of resources. Netting r)ff of income and expendlturg In¢ome and expenditurg are Staled gross. 1.6 Tangible red ass•t$ Tangible fixed assets are initially measur&d at cost and subsequently measured at cost or valuab'on, net of depreciation and any impairment lossès. Depreciation is recognised so as lo write off the cost or valuation of assets less their resldual values over their usoful lives on the following bases= Community centre Plant and equipm8nt 5% straight line 25010 reducing balance The gain or loss arising on the disposal of an asset is determined as the differenc8 babeen the sale proceeds and the carrying value of the asset, and is recognised in the slalement of financial activities. 1.7 Impalmient of flx•d assets At each reporting ènd dale, the charity reviews the carying amounts of its tangible assets to dglem)ine whether there is any indication that thos& assèts have suffered an impalrmenl loss. If any such indutlon 9xisls. tha recoverable amount of the asset is estimated in order lo dètèrmine the extent of the irnpairm8nt loss lif anyl. 1.8 Ca$h and cash aqulvalent$ Cash and cash equivalents include cash in hand, deposits held al call with banks, other short-term liquid investments with original maturities ol three months or less, and bank overdrafts. Bank overdrafts are shown within bom>wings in current liabilities. 13-
GLYNCOCH COMMUNITY REGENERATION LTD NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 A¢countlng policies IContlnu•dl 1.9 Financial in$tTuments The eharity has elected lo apply the provisions of Section 11 'B85ic Financlal Instruments, and Section 12 'Olhgr Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balan sheet when the charity becomos paty to the contractual provisions ol the instrument. Financial assets and liabilities are offset, with the net amounts presented in tho financial stalemanls, when there is a legally enfor¢eable right to Sol off the recognised amounts 8nd there is an intention to settlg on a net basis or to realise the asset and setde the liability simultaneously. Baslc flnan¢lal assets Basic financial assets, which include debtors and cash and bank balances, ar8 inrf(ially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measLJred al the present value of the future receipts discounted al a market rale of intoresl. Financial as$8ts dassified as receiva*Jla within one year are not amortised. Dwecognition of fln8ncial assgts Financial assets are dor8cognised only whèn the contractual rights lo the cash flows from the ass8t gxpire or are settled, or when the charity transfers Ihe financial ass&t and substantially all the risks and mwards ol ownership lo another entity, or if some significant risks and rewards of ownership ar8 retsined but control ol the asset has transferred to another party that is abie to sell the asset in its entirely lo an unrelated third paty. Basic linanclal Ilabilitles Basic financial liabilities. includino credttors and bank loans are initially recognis8d at transaction price unless the arrangernent conslitules a financing transaction, where the debt instrument is measured at the present V81ue of the futur6 payments discounted al a market rato of interest. Finanryal liabilities classified as payable within one year are not amortised. Trade cr@dilors are obligations to pay for goods or services that have been acquired in the ordinary course ol operations from suppliers. Amounts payable are classified as current liabilities if paymtrnl is due wthin one year or less. If not, they a presented as non-curfenl liabilities. Trade creditors are renised initially at transaction prlce and subseqijenlly measured at amortised cost using thg effective interest method. Derg¢ognltlon of financlal Ilabllltles Financial liabilities are dere¢ognised when the charity's contractual obligations expire or are discharged or eancelled. 1.10 Employeo b•n•fit$ The Cost of any unused hollday entitlement is recognlsed Sn thè period in whi¢h the employee's serViS are receivad. Termination benefits are recognised immediately as an axpgnse when the charity is demonstrably committed to temiinats the employment of an employee or lo provide tèrmination benefits. 1.11 Rotlrgm8nt b¢n•fit$ Payments to defined contribution retirement benefit schemes are charged as an expense as they lall due. Costs are allocatod be89n unrestricted and restrieted funds. 14-
GLYNCOCH COMMUNITY REGENERATION LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcies (Continued) 1.12 Taxation As a registered charity. Glyncoch Community Regeneration Ltd is entitled to the exemption from taxation in respect of income and capital gains received with sections 478489 of the Corporation Tax Act 2010 and section 256 of thg Taxation of Chargeable Gains Act 1992 to the extent that these are applied lo its th8ritsbl8 objects purposes only. Crlllcal a¢¢ountlng e$tlmate$ and Judgements In the application of the charity's accounting policies, the trustees are required to make judggmonts, estimates and assumptions about the carrying amount of a5sots and liabilities that are not readily apparent from other SoUrs. The estimates and associated assumption5 are based on historical experience and other factors that are nsidered lo be relevonl. Actual results moy drffer from these estimates. The estimates and undedying assumptions are reviewed on an ongoing basis. Revisions to 8¢counling 85tirnates are recognised in the period in which the eslimate is revised where the revision 8ffecls wly that period, or in the period of the revision and future periods where the revision affects both current and fijture per1¢s. Donations andlogacies Unrèstrlct•d funds Unr•striet•d Restricted funds funds Total 2024 2023 2023 2023 Donations and gilts 4,799 59 4,689 4,748 15-
GLYNCOCH COMMUNITY REGENERATION LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charitable activitigs 2024 2023 Grants 131,025 135.572 Analysis by fund Unrestricted funds Reslricled funds 2,540 128,485 135.572 131,025 135,572 Grants Restricted grnnl income Interlink RCT Bryncynon Community Revival Strategy Ltd Trivallis 128,485 1,500 640 400 135,572 131,025 135,572 Othor tradlng actlvltles 2024 2023 Venue hire and rent Consull8ncy and other services provided 9.930 3,778 16.800 5,116 other tradlng activllies 13,708 21,916 Investments Total Unrostricted funds 2024 2023 Interest receivable 209 16-
GLYNCOCH COMMUNITY REGENERATION LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charitable a¢tlvltle$ 2024 2023 Stsff costs Depreciation and impairrnenl General costs of charitable activities Insurance IT costs Premises costs Prinlino, postsge and staionery Telephone and int8rn&t Training and other staff costs 101,756 62,185 8,973 3,557 3,737 24,634 47 1,308 2,646 103,337 63,037 18,443 3,622 3,316 24,623 1,675 1,243 2,184 208,843 221.480 Share of support costs Is8& nola 8} Share of 9OVgmanc8 costs Is9e notg 81 480 3.174 567 2.340 212,497 224,387 Analysis by fund Unrestricted funds Restricted funds 18.852 193,645 22,057 202,330 212.497 224.387 Support Costs Support Goveman¢e costs costs 2024Support ¢osls Govemance costs 2023 Legal and professional costs Bank charges 35 445 35 445 567 567 Independ8nt examinaiton fee$ 3,174 3.174 2,340 2,340 480 3,174 3,654 567 2.340 2.907 Analysed between Charitsble activities 480 3,174 3,654 567 2,340 2,907 Govofnance Costs includes payments lo the independent examiners of £2.62412023'. £1,840) for independent examination fees and £55012023.. £5001 for accountancy services. 17-
GLYNCOCH COMMUNITY REGENERATION LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Trustees None of the trustees lor any p9rsons conneded with them) rèceived any ramuneration or benefits from the charty during Ihe current or prior year. In 2024 two trustees were reimbursod expenses totalling £3,395 for items purchased on behalf of the charity 12023.. two trustees were reimbursgd £1,423 for exponsesl. 10 Employees The av8ra98 monthly number of employees during the year was= 2024 Number 2023 NuMr Employment cost$ 2024 2023 Wages and salaries Social security costs Other pension costs 95,229 1,833 4,694 96,881 1,758 4.698 101,756 103,337 Key manag•m¢nt personnal The key management personnel as detsiled in th8 trustees reptsrt r8cgived benefits leonsisling of gross Salary, employers national insuran¢e and employers pgnsionl lolalling £41,48612023.' £38,585}. Employees oarning > £60.000 There were no employees during tha cUrnt or previous yèar who received benafits in excess of £60,000. There were no gmployees whose annual remuneration was more than £60,000. 11 Taxation The charity is exempt from lax on income and gains falling Tmthin section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargéable Gains Act 1992 to the extent that these are applied to its Charitable objects. 18-
GLYNCOCH COMMUNITY REGENERATION LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 12 Tangible fixed assgt$ Community contr8 Plant and equlpment Total Cost At 1 April 2023 Additions 1,163,459 45,261 6,340 1,208,720 6,340 At 31 March 2024 1,163,459 51,601 1,215,060 Deproclatlon and Impalmiont At 1 April 2023 Depreciation charged in tho year 558,506 58.173 38,795 4,012 597,301 62,185 Al 31 March 2024 616,679 42,807 6S9,486 Carrylng amount Al 31 March 2024 546,780 8,794 555,574 At 31 March 2023 604,953 6,466 611,419 13 Debtors 2024 2023 Amounts falllng du• withln one year: Trade debtors Other dgblors Pr&paymenls and accNèd income 2,255 272 1,570 13.069 1.207 4,097 14.276 14 Creditor$.' amounts falllng due vAthln on• y•ar 2024 2023 Other taxation and social security Trade crèditors Other creditors Accruals and deferred incx)me 1,S47 1.825 787 2,340 692 801 ,558 8,051 6,499 19-
GLYNCOCH COMMUNITY REGENERATION LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15 Retlrement ben•fit $chemes Defined contrlbutlon schemes The charity operates a d@fined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an Indèpgndenlly administared fund. Pension costs lotslled £4.894 {2023'. £4,6981. There were amounts oulslanding al the year end totslllng £801 12023.. £8221. 20-
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GLYNCOCH COMMUNITY REGENERATION LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Deslgnated funds The incomè funds of the charfty include the following designated funds which have bèèn set aside OLrt of unrestricted funds by the trust88s for specific purposes.. Balance at 1 April 2022 R•tsour¢•8 Balanea 41 •xpended 1 April 2023 Rvdource8 B41JD¢¢ at oxponded 31 March 2024 Fixed assets Building fund 4.833 32,000 14901 4,343 32.000 14891 3,854 32,000 36,833 14901 36.343 14891 35,854 Fixed assgts represents the functional fixed assets (fittings and equipment) Ltsad lo further the charity's aims that do not have restrictions placed on them. Building fund - r8presenls amounts designated for ulilisalion in future periods for the phase 3 build. -23-
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GLYNCOCH COMMUNITY REGENERATION LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Company ststu$ The eompany Is limited by guarantee and as such, has no share capitsl. 20 Ralatod party transactlons There wère no disclosable relalad party transactions during the year12023- nonel. 25-