2020-11-30-accounts - Cardiff Central Sports And Recreation Limited

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Cardiff Central Youth Club Ltd (Registered number: 07667261)

Report of the Trustees for the Year Ended 30 November 2020

The Trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30th November 2021. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the financial reporting standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1st January 2015).

Objectives and activities Objectives and aims

The charity is governed by its Articles of Association.

The charity's purpose is to:

Provide facilities for the local community to participate in amateur sports and leisure activities.
Provide sports activities in a safe, clean and supervised environment.

How our activities deliver public benefit

We follow Charities Commission guidance on public benefit and the charging of fees with our objects.

The charity provides gymnastics and other physical recreation facilities for the benefit of young people in Cardiff and the surrounding area. The charity is situated in a socially deprived area of the city (the area of Splott that the charity is based is in the 10% most deprived areas of Wales as declared in the 2014 Welsh Index of Multiple Deprivation).

Gymnastics requires specialist equipment and high ratios of qualified coaches to gymnasts to meet requirements of the Governing Body. The charity will always need to charge fees for use of the facilities, however, we constantly review our fee structures and spending to ensure that activities are as affordable as possible.

The charity provides gymnastics training with British Gymnastics and Welsh Gymnastics qualified coaches. We offer opportunities for young people to participate at all levels of gymnastics. We also host competitions.

The Gymnastics facilities are open seven days a week, offering a variety of activities to suit all ages and abilities. These include but are not exclusive of; Parent and toddler play gymnastics sessions,

Structured tiny tumblers gymnastics sessions, Pay as you Go Recreation Gymnastics, Recreation Gymnastics courses, Girls' Novice squad, Girls' Advanced squad, Girls' Elite squad, Boys' Novice squad,

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Boys' Advanced squad, Boys' Elite squad, Teen Gym, Adult recreation sessions.

We aim to introduce young people to the rewards of living a healthy, physical lifestyle. We teach the importance of regular exercise, healthy food choices and aspire to inspire young people to enjoy a healthy lifestyle.

Page 1

Cardiff Central Youth Club Ltd (Registered number: 07667261)

Report of the Trustees for the Year Ended 30 November 2021

Achievement and performance Achievement and Performance Summary

The last twelve months have been very challenging for CCYC, however, these challenges have made us stronger and have proved that there is a deep vein of passion and commitment within the membership of the club. The Trustees, staff and volunteers at CCYC are determined to continue to support and develop the charity to provide gymnastic opportunities for all in the community it serves.

This year we have had four Trustees resign, our centre manager resign and also administrative and coaching members of staff resign. CCYC has sought to improve its structure and communication and provide contingencies for loss of personnel. A new Board of Trustees has convened and is determined to take the club forward with a more robust business plan ensuring that the club remains financially as well as operationally viable through the currently challenging pandemic environment. A full time- centre manager has been recruited and is working closely with the Board of Trustees to ensure that business objectives are being identified, reviewed and met. The interim club committee of parents has been replaced by the strengthened board working closely with the new full time centre manager.

The cost of running a large gymnastic facility, ensuring that it is staffed and equipped to the national governing standards to meet safety and welfare needs is high. Restrictions on activities and closure of the club to comply with pandemic regulations has seriously affected cash flow in the year. Staffing is the main cost, and this has been reviewed. Staffing costs have been cut through the deletion of two full time permanently employed coaching posts. The centre manager has been employed on an invest to save basis. To survive the pandemic crisis, the club has made maximum use of government funding schemes. Staff have been furloughed in the year whilst the club was forced to shut or shrink its activities as regulations have demanded. The bounce back loan scheme has also been utilised. The new Board of Trustees recognised that in year measures to keep the club afloat through the worst of the pandemic has drawn down significantly on its resources and increased its levels of debt necessary to maintain cash flow. Footfall against the levels reported last year have drastically declined. This is a temporary decline as underlying demand for gymnastic activities provided by the club remains strong. However, as a result the Board commenced a review of opportunities to increase future revenue streams and to cut the cost of operations or to make them more efficient. This will be ongoing.

The club has continued to benefit from the support of the Cardiff City Council and has remained in dialogue with respect to the negotiation of the lease on a peppercorn rent. Heads of terms are agreed. The club has also been grateful to have received continuing parental support and fundraising. Funds raised and voluntary contributions have helped enormously throughout the pandemic and have meant that some of the operating costs have been mitigated through this support and the contributions most gratefully received.

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Cardiff Central Youth Club Ltd (Registered number: 07667261)

Report of the Trustees for the Year Ended 30 November 2021

As highlighted above, the outbreak of Covid-19 in the UK in March 2020 has inevitably had a profound impact on the club's performance as the measures taken by the UK government to prevent the spread of the virus forced it to close the gym and when it reopened in May 202, to operate at reduced activity. Given the uncertainties and ongoing evolution of the situation, we are still not fully able to estimate the full quantitative impact impact but note that the club has been successful to date in raising loan capital to enable the club to manage losses incurred while the disruption persists. The club reopened in May 2021 and is operating under new standard operating procedures that comply with the latest government guidance. This is constantly reviewed against a dynamic pandemic environment and according to current government guidelines. The trustees consider this situation to be a non-adjusting post balance sheet event and therefore there are no impacts on the 2019 reported figures.

Investment performance

This year the Charity has consolidated its costs to ensure it can continue to provide its purposes.

Investment in stock and equipment has been kept to a minimum in order to clear historical debts and improve cash-flow and improve the clubs residual cash position. One item of gymnastics equipment was purchased in the year, total capital expenditure amounting to less than £1,000.

Trustees

We are in the process of formalising new Trustee appointments to ensure we are in line with Charities Commission guidelines. The cooperation and hard work of the club committee has been essential in retaining the club this year.

Financial review

Financial position

The charity made a loss of £12,732 (2018/19: loss of £15,962). The total unrestricted net assets stand at £29,359 2018/19: (£13,305)

Income decreased to £248,834 (2018/19: £353,542), however this level of revenue is expected to increase as lockdowns are eased across England and Wales.

The average monthly number of staff employed by the club dropped to x (2018/19: 18).

Utility costs form a large proportion of our costs. They decreased to £37,578 (2018/19: £37,578) as a result of the continued clearance of historical debts and simplification of the business model resulting from the reduced foot print of the club.

Reserves policy

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The trustees have recognised an amount should be retained in unrestricted reserves to continue with the current activities of the charity in the event of a decrease in income. This amount is not committed or invested in tangible fixed assets ('the free reserves'). Reserves are needed to bridge the gap between the spending and receiving of resources to cover unplanned emergency repair and other expenditure.

The trustees consider the ideal level of reserves should be £160,000. This is calculated as the amount needed for 3 to 6 months budgeted expenditure.

However, as of 30 November 2020, the level of free reserves stood at £6,772 (2018/19: £19,504). Our aim over the longer-term is to increase the amount held in reserves.

Structure, governance and management Governing document

The organisation is a charitable company limited by guarantee. It was incorporated on the 13th June 2011 and registered as a charity on the 1st December 2012. The company was formed under a memorandum of association. The memorandum of association sets out the objects, governance and powers of the charitable company.

Corporate governance

The Trustees make a valuable contribution to the strategy, management and day to day running of the Charity. They carry out the Charity's strategy and policy framework. The Board of Trustees meets monthly to discuss the charity's financial performance and strategic planning. Minutes are kept of all meetings. The Board of Trustees makes decisions that affect the strategic direction and approve substantial financial commitments. Each Trustee had one vote and decisions are made when there is a majority.

There have been no significant changes in policy during the year.

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Cardiff Central Youth Club Ltd (Registered number: 07667261)

Report of the Trustees for the Year Ended 30 November 2020

Structure, governance and management Recruitment and appointment of new trustees

There have been 3 Trustee appointments in the year;

Po Teoh appointed 19th August 2019 Michelle Davies appointed 19th August 2019 Michael Higgins appointed 19th August 2019

There have been 2 Trustee resignations this year;

Tania Coray resigned 13th June 2019 Phil Hine resigned 13th June 2019.

We are currently recruiting 3 new Trustees.

We look at relevant skills and experience when introducing new Trustees to the charity. New Trustees are told of their company and charity law responsibilities with appropriate induction and training.

Organisational structure

The club has a volunteer committee lead by a Trustee Chair. Other key positions are Club Secretary and Treasurer. The committee has sub committees as needed. It meets monthly with minutes kept and report to the Trustees. The coaches are led by 2 head coaches and have representatives on the committee. We are currently recruiting a facilities manager to support the committee in managing other staff and the buildings.

Wider network

The club is affiliated to Welsh Gymnastics and British Gymnastics and follows the policies of these governing bodies with regards to health and safety, safeguarding, anti-doping, conduct and equality.

Risk management

The trustees have reviewed the major risks the charity might be exposed to. The trustees monitor and respond to risk on a monthly basis or when needed.

Reference and administrative details Registered Company number

07667261 (England and Wales)

Registered Charity number

1143553

Registered office

Cardiff Central Youth Club Ocean Park Ocean Way

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Cardiff CF24 5EF

Trustees

G R Evans R S Griffiths

P Teoh M Davies M Higgins

Independent Examiner

Stephen Lucey ICAEW Haines Watts Wales LLP 7 Neptune Court Vanguard Way Cardiff CF24 5PJ

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Cardiff Central Youth Club Ltd (Registered number: 07667261)

Report of the Trustees for the Year Ended 30 November 2020

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on ..........22.02.22................................... and signed on its behalf by:

P. Bryon

........................................................................ P Bryon - Trustee

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REGISTERED COMPANY NUMBER: 07667261 (England and Wales) REGISTERED CHARITY NUMBER: 1143553

Report of the Trustees and

Unaudited Financial Statements

for the Period 1 December 2019 to 29 November 2020

for

Cardiff Central Youth Club Ltd

Haines Watts Wales LLP 7 Neptune Court Vanguard Way Cardiff CF24 5PJ

Cardiff Central Youth Club Ltd

Contents of the Financial Statements for the Period 1 December 2019 to 29 November 2020

		Page
Report of the Trustees	1	to	4
Independent Examiner's Report	5	to	6
Statement of Financial Activities		7
Balance Sheet		8
Notes to the Financial Statements	9	to	17

Cardiff Central Youth Club Ltd (Registered number: 07667261)

Report of the Trustees for the Period 1 December 2019 to 29 November 2020

The Trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30th November 2019. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the financial reporting standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1st January 2019).

Objectives and activities Objectives and aims

The charity is governed by its Articles of Association.

The charity's purpose is to:

Provide facilities for the local community to participate in amateur sports and leisure activities.
Provide sports activities in a safe, clean and supervised environment.

How our activities deliver public benefit

We follow Charities Commission guidance on public benefit and the charging of fees with our objects.

The Gymnastics facilities are open seven days a week, offering a variety of activities to suit all ages and abilities. These include but are not exclusive of;

Parent and toddler play gymnastics sessions, Structured tiny tumblers gymnastics sessions, Pay as you Go Recreation Gymnastics, Recreation Gymnastics courses, Girls' Novice squad, Girls' Advanced squad, Girls' Elite squad, Boys' Novice squad, Boys' Advanced squad, Boys' Elite squad, Teen Gym, Adult recreation sessions.

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Cardiff Central Youth Club Ltd (Registered number: 07667261)

Report of the Trustees for the Period 1 December 2019 to 29 November 2020

Achievement and performance

Achievement and Performance Summary

As highlighted above, the outbreak of Covid-19 in the UK in March 2020 has inevitably had a profound impact on the club's performance as the measures taken by the UK government to prevent the spread of the virus forced it to close the gym and when it reopened in May 2021, to operate at reduced activity. Given the uncertainties and ongoing evolution of the situation, we are still not fully able to estimate the full quantitative impact impact but note that the club has been successful to date in raising loan capital to enable the club to manage losses incurred while the disruption persists. The club reopened in May 2021 and is operating under new standard operating procedures that comply with the latest government guidance. This is constantly reviewed against a dynamic pandemic environment and according to current government guidelines. The trustees consider this situation to be a non-adjusting post balance sheet event and therefore there are no impacts on the 2019 reported figures.

Investment performance

This year the Charity has consolidated its costs to ensure it can continue to provide its purposes.

Trustees

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Cardiff Central Youth Club Ltd (Registered number: 07667261)

Report of the Trustees for the Period 1 December 2019 to 29 November 2020

Financial review

Financial position

The charity made a surplus of £3,944 (2018/19: loss of £15,962). The total unrestricted net assets stand at £23,448 (2018/19: £19,504).

Income decreased to £247,146 (2018/19: £353,542), however this level of revenue is expected to increase as lockdowns are eased across England and Wales.

The average monthly number of staff employed by the club increased to 20 (2018/19: 19).

Reserves policy

The trustees consider the ideal level of reserves should be £160,000. This is calculated as the amount needed for 3 to 6 months budgeted expenditure.

However, as of 30 November 2020, the level of free reserves stood at (£5,842) (2018/19: (24,346)). Our aim over the longer-term is to increase the amount held in reserves.

Structure, governance and management

Governing document

Corporate governance

There have been no significant changes in policy during the year.

Recruitment and appointment of new trustees

There have been 2 Trustee appointments post year end;

Paul Byron appointed 14th December 2020 Genevre Wilsher appointed 28th July 2021

There have been 4 Trustee resignations post year end;

Michelle Davies resigned 14th December 2020 Rebecca Griffiths resigned 14th December 2020 Po Teoh resigned 14th December 2020 Gareth Evans resigned 14th December 2020

Organisational structure

Wider network

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Cardiff Central Youth Club Ltd (Registered number: 07667261)

Report of the Trustees for the Period 1 December 2019 to 29 November 2020

Structure, governance and management

Risk management

The trustees have reviewed the major risks the charity might be exposed to. The trustees monitor and respond to risk on a monthly basis or when needed.

Reference and administrative details Registered Company number

07667261 (England and Wales)

Registered Charity number

1143553

Registered office

Cardiff Central Youth Club Ocean Park Ocean Way Cardiff CF24 5EF

Trustees

G R Evans (resigned 14.12.2020) R S Griffiths (resigned 14.12.2020) P Teoh (resigned 14.12.2020) M Davies (resigned 14.12.2020) M Higgins P Byron (appointed 14.12.2020) G Wilsher (appointed 28.7.2021)

Independent Examiner

Stephen Lucey ICAEW Haines Watts Wales LLP 7 Neptune Court Vanguard Way Cardiff CF24 5PJ

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

.......................................................................... P Byron - Trustee

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Independent Examiner's Report to the Trustees of Cardiff Central Youth Club Ltd (Registered number: 07667261)

Independent examiner's report to the trustees of Cardiff Central Youth Club Ltd ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the period 1 December 2019 to 29 November 2020.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement - matters of concern identified

I have completed my examination.

I draw attention to note 2 in the financial statements, which indicates that the charity holds negative free reserves at the year end of £5,842 which is significantly below the aspired reserve levels noted within the reserves policy in the Trustees Report. As stated in note 2, these events or conditions, along with other matters as set forth in note 2, indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. My report is not qualified in respect of this matter.

I confirm that no other matters have come to my attention in connection with the examination giving me reasonable cause to believe that in any material respect:

accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; and
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.

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Independent Examiner's Report to the Trustees of Cardiff Central Youth Club Ltd (Registered number: 07667261)

The impact of uncertainties due to COVID-19 on our independent examination

Uncertainties relating to the effects of COVID-19 are relevant to understanding our independent examination of the financial statements. All independent examinations assess and challenge the reasonableness of estimates made by the directors, such as valuation of assets, appropriateness of the going concern basis of preparation of the financial statements and associated disclosures. All of these depend on assessments of the future economic environment and the Charity's future prospects and performance.

The COVID -19 viral pandemic is one of the most significant economic events for the UK, and at the date of this report its effects are subject to unprecedented levels of uncertainty of outcomes, with the full range of possible effects unknown. We have applied a standardised approach in response to that uncertainty when assessing the company's future prospects and performance. However, no independent examinations should be expected to predict the unknowable factors or all possible future implications for a charity and this is particularly the case in relation to the COVID -19 pandemic.

Stephen Lucey ICAEW Haines Watts Wales LLP 7 Neptune Court Vanguard Way Cardiff CF24 5PJ Date: .............................................

Page 6

Cardiff Central Youth Club Ltd

Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Period 1 December 2019 to 29 November 2020

		Period
		1.12.19
		to	Year Ended
		29.11.20	30.11.19
		Unrestricted	Total
		fund	funds
	Notes	£	£
Income and endowments from
Charitable activities	4
Recreation and other leisure facilities		115,940	253,338
Other trading activities	3	44,395	100,204
Other income	5	86,811	-
Total		247,146	353,542
Expenditure on
Raising funds	6	9,982	38,101
Charitable activities	7
Recreation and other leisure facilities		233,220	331,403
Total		243,202	369,504
NET INCOME/(EXPENDITURE)		3,944	(15,962)
Reconciliation of funds
Total funds brought forward		19,504	35,466
Total funds carried forward		23,448	19,504

The notes form part of these financial statements

Page 7

Cardiff Central Youth Club Ltd (Registered number: 07667261)

Balance Sheet 29 November 2020

2020
Unrestricted
fund
Notes
£
Fixed assets
Tangible assets
13
29,290
Current assets
Stocks
14
500
Debtors
15
11,257
Cash at bank
79,895
91,652
Creditors
Amounts falling due within one year
16
(45,617)
Net current assets
46,035
Total assets less current liabilities
75,325
Creditors
Amounts falling due after more than one year
17
(51,877)
NET ASSETS
23,448
Funds
20
Unrestricted funds
23,448
Total funds
23,448

2019
Total
funds
£
43,850
500
776
6,236
7,512
(20,817)
(13,305)
30,545
(11,041)
19,504
19,504
19,504

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 November 2020.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 November 2020 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. P Byron - Trustee

The notes form part of these financial statements

Page 8

Cardiff Central Youth Club Ltd

Notes to the Financial Statements for the Period 1 December 2019 to 29 November 2020

1. Statutory information

Cardiff Central Sports & Recreation Limited is a registered charity and private company limited by guarantee having no share capital. The company is incorporated in Wales in the United Kingdom. The registered office is Cardiff Central Youth Club, Ocean Park, Ocean Way, Cardiff, CF24 5EF. The nature of the company's operations and principal activities is disclosed within the Report of the Trustees.

The financial statements are presented in Sterling (£), the company's functional currency, and rounded to the nearest pound.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2. Accounting policies

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Cardiff Central Sports & Recreation Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction values unless otherwise stated in the relevant accounting policy, detailed below.

These financial statements have been prepared in compliance with the Charities SORP FRS 102.

Going concern

The financial statements have been prepared on a going concern basis despite a degree of material uncertainty as a result of the Charity holding negative free reserves at the year end of £5,842 which is significantly below the aspired reserves policy set in the Trustees Report.

The charitable company has implemented policies which will ensure that current liabilities continue to be met for the foreseeable future and that surpluses will be reported in future reporting periods.

In particular, in response to the COVID-19 pandemic, the Trustees have tested their cash flow analysis to take into account the impact on the charity of possible scenarios brought on by the impact of COVID-19, alongside the measures that they can take to mitigate the impact. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Trustees have concluded that they can continue to adopt the going concern basis in preparing the annual report and accounts.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Other trading activities income

Income from other trading activities includes income from facilities hire, café, shop and other sources. This income is recognised as the related services are provided and there is entitlement, probability of receipt and the amount can be measured with sufficient reliability.

It is not the policy of the charity to show incoming resources net of expenditure.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Expenditure on costs of raising funds include purchases of stocks.

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continued...

Cardiff Central Youth Club Ltd

Notes to the Financial Statements - continued for the Period 1 December 2019 to 29 November 2020

2. Accounting policies - continued

Expenditure

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.

Governance costs

Governance costs include costs of the preparation and examination of the statutory accounts, the costs of trustee meetings and the cost of any legal advice to trustees on governance or constitutional matters.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery 25% straight line - Improvements to property 10% straight line

Fixed assets are initially recorded at cost. Only assets which cost £500 or more are capitalised.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.Given that incoming resources for the charity have no further specified purpose, the trustees deem them to be unrestricted and available as general funds.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Government Grants

Government grants represents income receivable in relation to the UK government COVID-19 job retention scheme and business support grants. This is recognised in the period in which it becomes receivable.

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continued...

Cardiff Central Youth Club Ltd

Notes to the Financial Statements - continued for the Period 1 December 2019 to 29 November 2020

3. Other trading activities

Sponsorships
Facilities hire
Cafe income
Mother & toddler drop in
In house competition fees
4.
Income from charitable activities
Activity
Gymnastics fees
Recreation and other leisure facilities
Sports Council Wales
Recreation and other leisure facilities
Welsh Gymnastics
Recreation and other leisure facilities
5.
Other income
Government grants
6.
Raising funds
Other trading activities
Opening stock
Purchases
Closing stock

Period
1.12.19
to
Year Ended
29.11.20
30.11.19
£
£
4,225
2,933
16,955
34,446
12,548
48,107
10,667
12,759
-
1,959
44,395
100,204
Period
1.12.19
to
Year Ended
29.11.20
30.11.19
£
£
96,648
253,338
1,600
-
17,692
-
115,940
253,338
Period
1.12.19
to
Year Ended
29.11.20
30.11.19
£
£
86,811
-
Period
1.12.19
to
Year Ended
29.11.20
30.11.19
£
£
500
500
9,982
38,101
(500)
(500)
9,982
38,101

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continued...

Cardiff Central Youth Club Ltd

Notes to the Financial Statements - continued for the Period 1 December 2019 to 29 November 2020

7. Charitable activities costs

----- Start of picture text -----
Support
Direct costs (see
Costs note 8) Totals
£ £ £
Recreation and other leisure facilities 160,425 72,795 233,220
8. Support costs
Information
Management Finance technology
£ £ £
Recreation and other leisure facilities 29,901 4,583 6,311
Governance
Other costs Totals
£ £ £
Recreation and other leisure facilities 28,403 3,597 72,795
9. Net income/(expenditure)
Net income/(expenditure) is stated after charging/(crediting):
Period
1.12.19
to Year Ended
29.11.20 30.11.19
£ £
Depreciation - owned assets 14,243 14,772
Hire of plant and machinery 19,843 21,071
-
Other operating leases 6,250
-
Surplus on disposal of fixed assets (5,683)
Independent examiner fees 2,893 2,795
10. Trustees' remuneration and benefits
The remuneration benefits paid during the year to trustees, who were also directors, totalled £8,876 (2019: £29,420).
The following individuals received remuneration for the period in which they were trustees during the financial year:
Tania Coray 2020 2019
£ £
-
Salary 16,250
Benefits in kind - -
Pension benefits - -
-
Total remuneration package 16,250
Phil Hine 2020 2019
£ £
-
Salary 10,573
Benefits in kind - -
Pension benefits - -
-
Total remuneration package 10,573
----- End of picture text -----

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continued...

Cardiff Central Youth Club Ltd

Notes to the Financial Statements - continued for the Period 1 December 2019 to 29 November 2020

10. Trustees' remuneration and benefits - continued

Michael Higgins Salary Benefits in kind Pension benefits Total remuneration package	2020 £ 8,876 - - 8,876	2019 £ 2,597 - - 2,597

Michael Higgins is employed as the head boys coach for the charity. He was not paid to be a trustee of the charity.

Phil Hine was employed full time as the facility manager for the charity until June 2019. He was not paid to be a trustee of the charity.

Tania Coray was employed full time as the head of gymnastics coach for the charity until June 2019. She was not paid to be a trustee of the charity.

This remuneration is made by way of provision in the Charity's governing documents.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30 November 2020 nor the year ended 30 November 2019.

11. Staff costs

Wages and salaries Social security costs Other pension costs	Period 1.12.19 to Year Ended 29.11.20 30.11.19 £ £ 153,973 176,857 2,712 5,933 3,180 3,404 159,865 186,194

The average monthly number of employees during the period was as follows:

Management	Period 1.12.19 to Year Ended 29.11.20 30.11.19 1 2
Support	19 17
	20 19

Page 13

continued...

Cardiff Central Youth Club Ltd

Notes to the Financial Statements - continued for the Period 1 December 2019 to 29 November 2020

12. Comparatives for the statement of financial activities

Comparatives for the statement of financial activities
	Unrestricted
	fund
	£
Income and endowments from
Charitable activities
Recreation and other leisure facilities	253,338
Other trading activities	100,204
Total	353,542
Expenditure on
Raising funds	38,101
Charitable activities
Recreation and other leisure facilities	331,403
Total	369,504
NET INCOME/(EXPENDITURE)	(15,962)
Reconciliation of funds
Total funds brought forward	35,466
Total funds carried forward	19,504

13. Tangible fixed assets

Cost	Improvements to property £	Plant and machinery Totals £ £
At 1 December 2019	33,796	69,227 103,023
Disposals	-	(7,600) (7,600)
At 29 November 2020	33,796	61,627 95,423
Depreciation
At 1 December 2019	8,995	50,178 59,173
Charge for year	3,380	10,863 14,243
Eliminated on disposal	-	(7,283) (7,283)
At 29 November 2020	12,375	53,758 66,133
Net book value
At 29 November 2020	21,421	7,869 29,290
At 30 November 2019	24,801	19,049 43,850

Page 14

continued...

Cardiff Central Youth Club Ltd

Notes to the Financial Statements - continued for the Period 1 December 2019 to 29 November 2020

14. Stocks Stocks 15. Debtors: amounts falling due within one year Trade debtors Prepayments 16. Creditors: amounts falling due within one year Bank loans and overdrafts (see note 18) Other loans (see note 18) Trade creditors Social security and other taxes Other creditors 17. Creditors: amounts falling due after more than one year Bank loans (see note 18) Other loans (see note 18) 18. Loans An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank loans Other loans Amounts falling between one and two years: Bank loans - 1-2 years Other loans - 1-2 years Amounts falling due between two and five years: Bank loans - 2-5 years Other loans - 2-5 years	2020 £ 500 2020 £ 11,257 - 11,257 2020 £ 1,667 7,497 4,971 17,419 14,063 45,617 2020 £ 48,333 3,544 51,877 2020 £ 1,667 7,497 9,164 10,000 3,544 13,544 38,333 - 38,333	2019 £ 500 2019 £ 577 199 776 2019 £ - 6,074 1,199 3,639 9,905 20,817 2019 £ - 11,041 11,041 2019 £ - 6,074 6,074 - 7,497 7,497 - 3,544 3,544

Page 15

continued...

Cardiff Central Youth Club Ltd

Notes to the Financial Statements - continued for the Period 1 December 2019 to 29 November 2020

19. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:

			2020	2019
			£	£
	Within one year		17,772	17,772
	Between one and five years		7,604	25,376
			25,376	43,148
20.	Movement in funds
	Unrestricted funds	At 1.12.19 £	Net movement in funds £	At 29.11.20 £
	General fund	19,504	3,944	23,448
	TOTAL FUNDS	19,504	3,944	23,448
	Net movement in funds, included in the above are as follows:
	Unrestricted funds	Incoming resources £	Resources expended £	Movement in funds £
	General fund	247,146	(243,202)	3,944
	TOTAL FUNDS	247,146	(243,202)	3,944
	Comparatives for movement in funds
	Unrestricted funds	At 1.12.18 £	Net movement in funds £	At 30.11.19 £
	General fund	35,466	(15,962)	19,504
	TOTAL FUNDS	35,466	(15,962)	19,504
	Comparative net movement in funds, included in the above are as follows:
	Unrestricted funds	Incoming resources £	Resources expended £	Movement in funds £
	General fund	353,542	(369,504)	(15,962)
	TOTAL FUNDS	353,542	(369,504)	(15,962)

Page 16

continued...

Cardiff Central Youth Club Ltd

Notes to the Financial Statements - continued for the Period 1 December 2019 to 29 November 2020

21. Related party disclosures

There were no other related party transactions for the year ended 30 November 2020 nor the year ended November 2019 except for those disclosed in note 10.

22. Company limited by guarantee

The charity is a company limited by guarantee. Members have agreed to contribute £1 in the event of a winding up.

Page 17

REGISTERED COMPANY NUMBER: 07667261 (England and Wales) REGISTERED CHARITY NUMBER: 1143553

Report of the Trustees and

Unaudited Financial Statements

for the Period 1 December 2019 to 29 November 2020

for

Cardiff Central Youth Club Ltd

Haines Watts Wales LLP 7 Neptune Court Vanguard Way Cardiff CF24 5PJ

Cardiff Central Youth Club Ltd

Contents of the Financial Statements for the Period 1 December 2019 to 29 November 2020

		Page
Report of the Trustees	1	to	4
Independent Examiner's Report	5	to	6
Statement of Financial Activities		7
Balance Sheet		8
Notes to the Financial Statements	9	to	17

Cardiff Central Youth Club Ltd (Registered number: 07667261)

Report of the Trustees for the Period 1 December 2019 to 29 November 2020

The Trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30th November 2019. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the financial reporting standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1st January 2019).

Objectives and activities Objectives and aims

The charity is governed by its Articles of Association.

The charity's purpose is to:

Provide facilities for the local community to participate in amateur sports and leisure activities.
Provide sports activities in a safe, clean and supervised environment.

How our activities deliver public benefit

We follow Charities Commission guidance on public benefit and the charging of fees with our objects.

The Gymnastics facilities are open seven days a week, offering a variety of activities to suit all ages and abilities. These include but are not exclusive of;

Page 1

Cardiff Central Youth Club Ltd (Registered number: 07667261)

Report of the Trustees for the Period 1 December 2019 to 29 November 2020

Achievement and performance

Achievement and Performance Summary

As highlighted above, the outbreak of Covid-19 in the UK in March 2020 has inevitably had a profound impact on the club's performance as the measures taken by the UK government to prevent the spread of the virus forced it to close the gym and when it reopened in May 2021, to operate at reduced activity. Given the uncertainties and ongoing evolution of the situation, we are still not fully able to estimate the full quantitative impact impact but note that the club has been successful to date in raising loan capital to enable the club to manage losses incurred while the disruption persists. The club reopened in May 2021 and is operating under new standard operating procedures that comply with the latest government guidance. This is constantly reviewed against a dynamic pandemic environment and according to current government guidelines. The trustees consider this situation to be a non-adjusting post balance sheet event and therefore there are no impacts on the 2019 reported figures.

Investment performance

This year the Charity has consolidated its costs to ensure it can continue to provide its purposes.

Trustees

Page 2

Cardiff Central Youth Club Ltd (Registered number: 07667261)

Report of the Trustees for the Period 1 December 2019 to 29 November 2020

Financial review

Financial position

The charity made a surplus of £3,944 (2018/19: loss of £15,962). The total unrestricted net assets stand at £23,448 (2018/19: £19,504).

Income decreased to £247,146 (2018/19: £353,542), however this level of revenue is expected to increase as lockdowns are eased across England and Wales.

The average monthly number of staff employed by the club increased to 20 (2018/19: 19).

Reserves policy

The trustees consider the ideal level of reserves should be £160,000. This is calculated as the amount needed for 3 to 6 months budgeted expenditure.

However, as of 29 November 2020, the level of free reserves stood at (£5,842) (2018/19: (24,346)). Our aim over the longer-term is to increase the amount held in reserves.

Structure, governance and management

Governing document

Corporate governance

There have been no significant changes in policy during the year.

Recruitment and appointment of new trustees

There have been 2 Trustee appointments post year end;

Paul Byron appointed 14th December 2020 Genevre Wilsher appointed 28th July 2021

There have been 4 Trustee resignations post year end;

Michelle Davies resigned 14th December 2020 Rebecca Griffiths resigned 14th December 2020 Po Teoh resigned 14th December 2020 Gareth Evans resigned 14th December 2020

Organisational structure

Wider network

Page 3

Cardiff Central Youth Club Ltd (Registered number: 07667261)

Report of the Trustees for the Period 1 December 2019 to 29 November 2020

Structure, governance and management

Risk management

The trustees have reviewed the major risks the charity might be exposed to. The trustees monitor and respond to risk on a monthly basis or when needed.

Reference and administrative details Registered Company number

07667261 (England and Wales)

Registered Charity number

1143553

Registered office

Cardiff Central Youth Club Ocean Park Ocean Way Cardiff CF24 5EF

Trustees

G R Evans (resigned 14.12.2020) R S Griffiths (resigned 14.12.2020) P Teoh (resigned 14.12.2020) M Davies (resigned 14.12.2020) M Higgins P Bryon (appointed 14.12.2020) G Wilsher (appointed 28.7.2021)

Independent Examiner

Stephen Lucey ICAEW Haines Watts Wales LLP 7 Neptune Court Vanguard Way Cardiff CF24 5PJ

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 24 February 2022 and signed on its behalf by:

P Bryon - Trustee

Page 4

Independent Examiner's Report to the Trustees of Cardiff Central Youth Club Ltd (Registered number: 07667261)

Independent examiner's report to the trustees of Cardiff Central Youth Club Ltd ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the period 1 December 2019 to 29 November 2020.

Responsibilities and basis of report

Independent examiner's statement - matters of concern identified

I have completed my examination.

I draw attention to note 2 in the financial statements, which indicates that the charity holds negative free reserves at the period end of £5,842 which is significantly below the aspired reserve levels noted within the reserves policy in the Trustees Report. As stated in note 2, these events or conditions, along with other matters as set forth in note 2, indicate that a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern. My report is not qualified in respect of this matter.

I confirm that no other matters have come to my attention in connection with the examination giving me reasonable cause to believe that in any material respect:

accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; and
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.

Page 5

Independent Examiner's Report to the Trustees of Cardiff Central Youth Club Ltd (Registered number: 07667261)

The impact of uncertainties due to COVID-19 on our independent examination

Stephen Lucey ICAEW Haines Watts Wales LLP 7 Neptune Court Vanguard Way Cardiff CF24 5PJ

25 February 2022

Page 6

Cardiff Central Youth Club Ltd

Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Period 1 December 2019 to 29 November 2020

		Period
		1.12.19
		to	Year Ended
		29.11.20	30.11.19
		Unrestricted	Total
		fund	funds
	Notes	£	£
Income and endowments from
Charitable activities	4
Recreation and other leisure facilities		115,940	253,338
Other trading activities	3	44,395	100,204
Other income	5	86,811	-
Total		247,146	353,542
Expenditure on
Raising funds	6	9,982	38,101
Charitable activities	7
Recreation and other leisure facilities		233,220	331,403
Total		243,202	369,504
NET INCOME/(EXPENDITURE)		3,944	(15,962)
Reconciliation of funds
Total funds brought forward		19,504	35,466
Total funds carried forward		23,448	19,504

The notes form part of these financial statements

Page 7

Cardiff Central Youth Club Ltd (Registered number: 07667261)

Balance Sheet 29 November 2020

2019
Total
funds
£
43,850
500
776
6,236
7,512
(20,817)
(13,305)
30,545
(11,041)
19,504
19,504
19,504

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 November 2020.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 November 2020 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 24 February 2022 and were signed on its behalf by:

P Bryon - Trustee

The notes form part of these financial statements

Page 8

Cardiff Central Youth Club Ltd

Notes to the Financial Statements for the Period 1 December 2019 to 29 November 2020

1. Statutory information

The financial statements are presented in Sterling (£), the company's functional currency, and rounded to the nearest pound.

2. Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in compliance with the Charities SORP FRS 102.

Going concern

The financial statements have been prepared on a going concern basis despite a degree of material uncertainty as a result of the Charity holding negative free reserves at the period end of £5,842 which is significantly below the aspired reserves policy set in the Trustees Report.

Income

Other trading activities income

It is not the policy of the charity to show incoming resources net of expenditure.

Expenditure

Expenditure on costs of raising funds include purchases of stocks.

Page 9

continued...

Cardiff Central Youth Club Ltd

Notes to the Financial Statements - continued for the Period 1 December 2019 to 29 November 2020

2. Accounting policies - continued

Expenditure

Governance costs

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery 25% straight line - Improvements to property 10% straight line

Fixed assets are initially recorded at cost. Only assets which cost £500 or more are capitalised.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Pension costs and other post-retirement benefits

Financial instruments

Government Grants

Page 10

continued...

Cardiff Central Youth Club Ltd

Notes to the Financial Statements - continued for the Period 1 December 2019 to 29 November 2020

3. Other trading activities

Page 11

continued...

Cardiff Central Youth Club Ltd

Notes to the Financial Statements - continued for the Period 1 December 2019 to 29 November 2020

7. Charitable activities costs

Page 12

continued...

Cardiff Central Youth Club Ltd

Notes to the Financial Statements - continued for the Period 1 December 2019 to 29 November 2020

10. Trustees' remuneration and benefits - continued

Michael Higgins Salary Benefits in kind Pension benefits Total remuneration package	2020 £ 8,876 - - 8,876	2019 £ 2,597 - - 2,597

Michael Higgins is employed as the head boys coach for the charity. He was not paid to be a trustee of the charity.

Phil Hine was employed full time as the facility manager for the charity until June 2019. He was not paid to be a trustee of the charity.

Tania Coray was employed full time as the head of gymnastics coach for the charity until June 2019. She was not paid to be a trustee of the charity.

This remuneration is made by way of provision in the Charity's governing documents.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30 November 2020 nor the year ended 30 November 2019.

11. Staff costs

Wages and salaries Social security costs Other pension costs	Period 1.12.19 to Year Ended 29.11.20 30.11.19 £ £ 153,973 176,857 2,712 5,933 3,180 3,404 159,865 186,194

The average monthly number of employees during the period was as follows:

Management	Period 1.12.19 to Year Ended 29.11.20 30.11.19 1 2
Support	19 17
	20 19

Page 13

continued...

Cardiff Central Youth Club Ltd

Notes to the Financial Statements - continued for the Period 1 December 2019 to 29 November 2020

12. Comparatives for the statement of financial activities

Comparatives for the statement of financial activities
	Unrestricted
	fund
	£
Income and endowments from
Charitable activities
Recreation and other leisure facilities	253,338
Other trading activities	100,204
Total	353,542
Expenditure on
Raising funds	38,101
Charitable activities
Recreation and other leisure facilities	331,403
Total	369,504
NET INCOME/(EXPENDITURE)	(15,962)
Reconciliation of funds
Total funds brought forward	35,466
Total funds carried forward	19,504

13. Tangible fixed assets

Cost	Improvements to property £	Plant and machinery Totals £ £
At 1 December 2019	33,796	69,227 103,023
Disposals	-	(7,600) (7,600)
At 29 November 2020	33,796	61,627 95,423
Depreciation
At 1 December 2019	8,995	50,178 59,173
Charge for year	3,380	10,863 14,243
Eliminated on disposal	-	(7,283) (7,283)
At 29 November 2020	12,375	53,758 66,133
Net book value
At 29 November 2020	21,421	7,869 29,290
At 30 November 2019	24,801	19,049 43,850

Page 14

continued...

Cardiff Central Youth Club Ltd

Notes to the Financial Statements - continued for the Period 1 December 2019 to 29 November 2020

14. Stocks Stocks 15. Debtors: amounts falling due within one year Trade debtors Prepayments 16. Creditors: amounts falling due within one year Bank loans and overdrafts (see note 18) Other loans (see note 18) Trade creditors Social security and other taxes Other creditors 17. Creditors: amounts falling due after more than one year Bank loans (see note 18) Other loans (see note 18) 18. Loans An analysis of the maturity of loans is given below: Amounts falling due within one year on demand: Bank loans Other loans Amounts falling between one and two years: Bank loans - 1-2 years Other loans - 1-2 years Amounts falling due between two and five years: Bank loans - 2-5 years Other loans - 2-5 years	2020 £ 500 2020 £ 11,257 - 11,257 2020 £ 1,667 7,497 4,971 17,419 14,063 45,617 2020 £ 48,333 3,544 51,877 2020 £ 1,667 7,497 9,164 10,000 3,544 13,544 38,333 - 38,333	2019 £ 500 2019 £ 577 199 776 2019 £ - 6,074 1,199 3,639 9,905 20,817 2019 £ - 11,041 11,041 2019 £ - 6,074 6,074 - 7,497 7,497 - 3,544 3,544

Page 15

continued...

Cardiff Central Youth Club Ltd

Notes to the Financial Statements - continued for the Period 1 December 2019 to 29 November 2020

19. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:

			2020	2019
			£	£
	Within one year		17,772	17,772
	Between one and five years		7,604	25,376
			25,376	43,148
20.	Movement in funds
	Unrestricted funds	At 1.12.19 £	Net movement in funds £	At 29.11.20 £
	General fund	19,504	3,944	23,448
	TOTAL FUNDS	19,504	3,944	23,448
	Net movement in funds, included in the above are as follows:
	Unrestricted funds	Incoming resources £	Resources expended £	Movement in funds £
	General fund	247,146	(243,202)	3,944
	TOTAL FUNDS	247,146	(243,202)	3,944
	Comparatives for movement in funds
	Unrestricted funds	At 1.12.18 £	Net movement in funds £	At 30.11.19 £
	General fund	35,466	(15,962)	19,504
	TOTAL FUNDS	35,466	(15,962)	19,504
	Comparative net movement in funds, included in the above are as follows:
	Unrestricted funds	Incoming resources £	Resources expended £	Movement in funds £
	General fund	353,542	(369,504)	(15,962)
	TOTAL FUNDS	353,542	(369,504)	(15,962)

Page 16

continued...

Cardiff Central Youth Club Ltd

Notes to the Financial Statements - continued for the Period 1 December 2019 to 29 November 2020

21. Related party disclosures

There were no other related party transactions for the period ended 29 November 2020 nor the year ended 30 November 2019 except for those disclosed in note 10.

22. Company limited by guarantee

The charity is a company limited by guarantee. Members have agreed to contribute £1 in the event of a winding up.

Page 17