## **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, 

Page 1 



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. 

Page 2 



Page 2

## **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** 

Page 3 



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. 

Page 3 



**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 

Page 4 



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 

Page 4 



## **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 

Page 5 



**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 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, 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 Period 1 December 2019 to 29 November 2020** 

## **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. 

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. 

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. 

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 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 (£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** 

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. 

## **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 

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. 

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 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 

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** 

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: 

1. 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 

3. 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 

4. 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** 

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**<br>**Unrestricted**<br>**fund**<br>**Notes**<br>**£**<br>**Fixed assets**<br>Tangible assets<br>13<br>29,290<br>**Current assets**<br>Stocks<br>14<br>500<br>Debtors<br>15<br>11,257<br>Cash at bank<br>79,895<br>91,652<br>**Creditors**<br>Amounts falling due within one year<br>16<br>(45,617)<br>**Net current assets**<br>46,035<br>**Total assets less current liabilities**<br>75,325<br>**Creditors**<br>Amounts falling due after more than one year<br>17<br>(51,877)<br>**NET ASSETS**<br>23,448<br>**Funds**<br>20<br>Unrestricted funds<br>23,448<br>**Total funds**<br>23,448|**2019**<br>**Total**<br>**funds**<br>**£**<br>43,850<br>500<br>776<br>6,236<br>7,512<br>(20,817)<br>(13,305)<br>30,545<br>(11,041)<br>19,504<br>19,504<br>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. 

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** 

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. 

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** 

|Sponsorships<br>Facilities hire<br>Cafe income<br>Mother & toddler drop in<br>In house competition fees<br>**4.**<br>**Income from charitable activities**<br>**Activity**<br>Gymnastics fees<br>Recreation and other leisure facilities<br>Sports Council Wales<br>Recreation and other leisure facilities<br>Welsh Gymnastics<br>Recreation and other leisure facilities<br>**5.**<br>**Other income**<br>Government grants<br>**6.**<br>**Raising funds**<br>**Other trading activities**<br>Opening stock<br>Purchases<br>Closing stock|**Period**<br>**1.12.19**<br>**to**<br>**Year Ended**<br>**29.11.20**<br>**30.11.19**<br>**£**<br>**£**<br>4,225<br>2,933<br>16,955<br>34,446<br>12,548<br>48,107<br>10,667<br>12,759<br>-<br>1,959<br>44,395<br>100,204<br>**Period**<br>**1.12.19**<br>**to**<br>**Year Ended**<br>**29.11.20**<br>**30.11.19**<br>**£**<br>**£**<br>96,648<br>253,338<br>1,600<br>-<br>17,692<br>-<br>115,940<br>253,338<br>**Period**<br>**1.12.19**<br>**to**<br>**Year Ended**<br>**29.11.20**<br>**30.11.19**<br>**£**<br>**£**<br>86,811<br>-<br>**Period**<br>**1.12.19**<br>**to**<br>**Year Ended**<br>**29.11.20**<br>**30.11.19**<br>**£**<br>**£**<br>500<br>500<br>9,982<br>38,101<br>(500)<br>(500)<br>9,982<br>38,101|
|---|---|



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** 


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


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**<br>Salary<br>Benefits in kind<br>Pension benefits<br>**Total remuneration package**|**2020**<br>**£**<br>8,876<br>-<br>-<br>**8,876**|**2019**<br>**£**<br>2,597<br>-<br>-<br>**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<br>Social security costs<br>Other pension costs|**Period**<br>**1.12.19**<br>**to**<br>**Year Ended**<br>**29.11.20**<br>**30.11.19**<br>**£**<br>**£**<br>153,973<br>176,857<br>2,712<br>5,933<br>3,180<br>3,404<br>159,865<br>186,194|
|---|---|



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

|Management|**Period**<br>**1.12.19**<br>**to**<br>**Year Ended**<br>**29.11.20**<br>**30.11.19**<br>1<br>2|
|---|---|
|Support|19<br>17|
||20<br>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**<br>**to**<br>**property**<br>**£**|**Plant and**<br>**machinery**<br>**Totals**<br>**£**<br>**£**|
|---|---|---|
|At 1 December 2019|33,796|69,227<br>103,023|
|Disposals|-|(7,600)<br>(7,600)|
|At 29 November 2020|33,796|61,627<br>95,423|
|**Depreciation**|||
|At 1 December 2019|8,995|50,178<br>59,173|
|Charge for year|3,380|10,863<br>14,243|
|Eliminated on disposal|-|(7,283)<br>(7,283)|
|At 29 November 2020|12,375|53,758<br>66,133|
|**Net book value**|||
|At 29 November 2020|21,421|7,869<br>29,290|
|At 30 November 2019|24,801|19,049<br>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.**<br>**Stocks**<br>Stocks<br>**15.**<br>**Debtors: amounts falling due within one year**<br>Trade debtors<br>Prepayments<br>**16.**<br>**Creditors: amounts falling due within one year**<br>Bank loans and overdrafts (see note 18)<br>Other loans (see note 18)<br>Trade creditors<br>Social security and other taxes<br>Other creditors<br>**17.**<br>**Creditors: amounts falling due after more than one year**<br>Bank loans (see note 18)<br>Other loans (see note 18)<br>**18.**<br>**Loans**<br>An analysis of the maturity of loans is given below:<br>Amounts falling due within one year on demand:<br>Bank loans<br>Other loans<br>Amounts falling between one and two years:<br>Bank loans - 1-2 years<br>Other loans - 1-2 years<br>Amounts falling due between two and five years:<br>Bank loans - 2-5 years<br>Other loans - 2-5 years|**2020**<br>**£**<br>500<br>**2020**<br>**£**<br>11,257<br>-<br>11,257<br>**2020**<br>**£**<br>1,667<br>7,497<br>4,971<br>17,419<br>14,063<br>45,617<br>**2020**<br>**£**<br>48,333<br>3,544<br>51,877<br>**2020**<br>**£**<br>1,667<br>7,497<br>9,164<br>10,000<br>3,544<br>13,544<br>38,333<br>-<br>38,333|**2019**<br>**£**<br>500<br>**2019**<br>**£**<br>577<br>199<br>776<br>**2019**<br>**£**<br>-<br>6,074<br>1,199<br>3,639<br>9,905<br>20,817<br>**2019**<br>**£**<br>-<br>11,041<br>11,041<br>**2019**<br>**£**<br>-<br>6,074<br>6,074<br>-<br>7,497<br>7,497<br>-<br>3,544<br>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**<br>**1.12.19**<br>**£**|**Net**<br>**movement**<br>**in funds**<br>**£**|**At**<br>**29.11.20**<br>**£**|
||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**<br>**resources**<br>**£**|**Resources**<br>**expended**<br>**£**|**Movement**<br>**in funds**<br>**£**|
||General fund|247,146|(243,202)|3,944|
||**TOTAL FUNDS**|247,146|(243,202)|3,944|
||**Comparatives for movement in funds**||||
||**Unrestricted funds**|**At**<br>**1.12.18**<br>**£**|**Net**<br>**movement**<br>**in funds**<br>**£**|**At**<br>**30.11.19**<br>**£**|
||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**<br>**resources**<br>**£**|**Resources**<br>**expended**<br>**£**|**Movement**<br>**in funds**<br>**£**|
||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 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, 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 Period 1 December 2019 to 29 November 2020** 

## **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. 

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. 

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. 

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 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 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** 

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. 

## **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 

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. 

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** 

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 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: 

1. 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 

3. 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 

4. 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** 

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 

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** 

|**2020**<br>**Unrestricted**<br>**fund**<br>**Notes**<br>**£**<br>**Fixed assets**<br>Tangible assets<br>13<br>29,290<br>**Current assets**<br>Stocks<br>14<br>500<br>Debtors<br>15<br>11,257<br>Cash at bank<br>79,895<br>91,652<br>**Creditors**<br>Amounts falling due within one year<br>16<br>(45,617)<br>**Net current assets**<br>46,035<br>**Total assets less current liabilities**<br>75,325<br>**Creditors**<br>Amounts falling due after more than one year<br>17<br>(51,877)<br>**NET ASSETS**<br>23,448<br>**Funds**<br>20<br>Unrestricted funds<br>23,448<br>**Total funds**<br>23,448|**2019**<br>**Total**<br>**funds**<br>**£**<br>43,850<br>500<br>776<br>6,236<br>7,512<br>(20,817)<br>(13,305)<br>30,545<br>(11,041)<br>19,504<br>19,504<br>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** 

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 period 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. 

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** 

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. 

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** 

|Sponsorships<br>Facilities hire<br>Cafe income<br>Mother & toddler drop in<br>In house competition fees<br>**4.**<br>**Income from charitable activities**<br>**Activity**<br>Gymnastics fees<br>Recreation and other leisure facilities<br>Sports Council Wales<br>Recreation and other leisure facilities<br>Welsh Gymnastics<br>Recreation and other leisure facilities<br>**5.**<br>**Other income**<br>Government grants<br>**6.**<br>**Raising funds**<br>**Other trading activities**<br>Opening stock<br>Purchases<br>Closing stock|**Period**<br>**1.12.19**<br>**to**<br>**Year Ended**<br>**29.11.20**<br>**30.11.19**<br>**£**<br>**£**<br>4,225<br>2,933<br>16,955<br>34,446<br>12,548<br>48,107<br>10,667<br>12,759<br>-<br>1,959<br>44,395<br>100,204<br>**Period**<br>**1.12.19**<br>**to**<br>**Year Ended**<br>**29.11.20**<br>**30.11.19**<br>**£**<br>**£**<br>96,648<br>253,338<br>1,600<br>-<br>17,692<br>-<br>115,940<br>253,338<br>**Period**<br>**1.12.19**<br>**to**<br>**Year Ended**<br>**29.11.20**<br>**30.11.19**<br>**£**<br>**£**<br>86,811<br>-<br>**Period**<br>**1.12.19**<br>**to**<br>**Year Ended**<br>**29.11.20**<br>**30.11.19**<br>**£**<br>**£**<br>500<br>500<br>9,982<br>38,101<br>(500)<br>(500)<br>9,982<br>38,101|
|---|---|



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** 


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


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**<br>Salary<br>Benefits in kind<br>Pension benefits<br>**Total remuneration package**|**2020**<br>**£**<br>8,876<br>-<br>-<br>**8,876**|**2019**<br>**£**<br>2,597<br>-<br>-<br>**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<br>Social security costs<br>Other pension costs|**Period**<br>**1.12.19**<br>**to**<br>**Year Ended**<br>**29.11.20**<br>**30.11.19**<br>**£**<br>**£**<br>153,973<br>176,857<br>2,712<br>5,933<br>3,180<br>3,404<br>159,865<br>186,194|
|---|---|



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

|Management|**Period**<br>**1.12.19**<br>**to**<br>**Year Ended**<br>**29.11.20**<br>**30.11.19**<br>1<br>2|
|---|---|
|Support|19<br>17|
||20<br>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**<br>**to**<br>**property**<br>**£**|**Plant and**<br>**machinery**<br>**Totals**<br>**£**<br>**£**|
|---|---|---|
|At 1 December 2019|33,796|69,227<br>103,023|
|Disposals|-|(7,600)<br>(7,600)|
|At 29 November 2020|33,796|61,627<br>95,423|
|**Depreciation**|||
|At 1 December 2019|8,995|50,178<br>59,173|
|Charge for year|3,380|10,863<br>14,243|
|Eliminated on disposal|-|(7,283)<br>(7,283)|
|At 29 November 2020|12,375|53,758<br>66,133|
|**Net book value**|||
|At 29 November 2020|21,421|7,869<br>29,290|
|At 30 November 2019|24,801|19,049<br>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.**<br>**Stocks**<br>Stocks<br>**15.**<br>**Debtors: amounts falling due within one year**<br>Trade debtors<br>Prepayments<br>**16.**<br>**Creditors: amounts falling due within one year**<br>Bank loans and overdrafts (see note 18)<br>Other loans (see note 18)<br>Trade creditors<br>Social security and other taxes<br>Other creditors<br>**17.**<br>**Creditors: amounts falling due after more than one year**<br>Bank loans (see note 18)<br>Other loans (see note 18)<br>**18.**<br>**Loans**<br>An analysis of the maturity of loans is given below:<br>Amounts falling due within one year on demand:<br>Bank loans<br>Other loans<br>Amounts falling between one and two years:<br>Bank loans - 1-2 years<br>Other loans - 1-2 years<br>Amounts falling due between two and five years:<br>Bank loans - 2-5 years<br>Other loans - 2-5 years|**2020**<br>**£**<br>500<br>**2020**<br>**£**<br>11,257<br>-<br>11,257<br>**2020**<br>**£**<br>1,667<br>7,497<br>4,971<br>17,419<br>14,063<br>45,617<br>**2020**<br>**£**<br>48,333<br>3,544<br>51,877<br>**2020**<br>**£**<br>1,667<br>7,497<br>9,164<br>10,000<br>3,544<br>13,544<br>38,333<br>-<br>38,333|**2019**<br>**£**<br>500<br>**2019**<br>**£**<br>577<br>199<br>776<br>**2019**<br>**£**<br>-<br>6,074<br>1,199<br>3,639<br>9,905<br>20,817<br>**2019**<br>**£**<br>-<br>11,041<br>11,041<br>**2019**<br>**£**<br>-<br>6,074<br>6,074<br>-<br>7,497<br>7,497<br>-<br>3,544<br>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**<br>**1.12.19**<br>**£**|**Net**<br>**movement**<br>**in funds**<br>**£**|**At**<br>**29.11.20**<br>**£**|
||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**<br>**resources**<br>**£**|**Resources**<br>**expended**<br>**£**|**Movement**<br>**in funds**<br>**£**|
||General fund|247,146|(243,202)|3,944|
||**TOTAL FUNDS**|247,146|(243,202)|3,944|
||**Comparatives for movement in funds**||||
||**Unrestricted funds**|**At**<br>**1.12.18**<br>**£**|**Net**<br>**movement**<br>**in funds**<br>**£**|**At**<br>**30.11.19**<br>**£**|
||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**<br>**resources**<br>**£**|**Resources**<br>**expended**<br>**£**|**Movement**<br>**in funds**<br>**£**|
||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