OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-11-30-accounts

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

Report of the Trustees and Unaudited Financial Statements for the Period 30 November 2022 to 29 November 2023 for Cardiff Central Youth Club Ltd

BYB Accountancy Ltd 39 Cardiff Road Llandaff Cardiff CF5 2DP

Cardiff Central Youth Club Ltd

Contents of the Financial Statements For the period 30 November 2022 to 29 November 2023

Page
Report of the Trustees 3
Independent Examiner’s Report 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Financial Statements 10

Page 2

Cardiff Central Youth Club Ltd (Registered number: 07767261)

Report of the Trustees

For the period 30 November 2022 to 29 November 2023

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 29[th] November 2022. The Trustees have adopted the provision 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 1[st] 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 areas. The charity is situated in a socially deprived area of the city (the area of Splott, where 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 the 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 session Pay as you go recreational gymnastics sessions 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 3

Cardiff Central Youth Club Ltd (Registered number: 07767261)

Report of the Trustees

For the period 30 November 2022 to 29 November 2023

Achievements and Performance

Achievements and performance summary

The Covid pandemic as it did for most organisations across the UK presented deep challenges to the club. These considerable challenges have made the club more resilient and have shown that there is a continuing 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.

Improved management in the year has focussed on developing the Club’s financial performance which was seriously undermined by the pandemic. The newly recruited Centre Manager has worked closely with the Board to ensure improved financial systems and general financial health and a reserve fund has been enhanced with the aim of improving resilience should there be any future threats to business continuity. £31000.00 has been allocated in year as a first step to achieving an optimal reserve for the club moving forwards.

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 always high. Staffing is the main cost, and this has been stabilised following previous year’s staffing review although ensuring sufficient coaching resources at scale remains a significant challenge. There has been an increased focus on staff development with investment in further training so more staff can coach at a higher level.

There has also been further investment in health and safety and external consultants have been engaged to support best practice in health and safety as well as improved staff management.

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. It is hoped that the lease will be resolved shortly, and the Club has appointed solicitors to help with the completion of this.

Investment performance

This year the Charity has consolidated its costs to provide its purpose.

Gymnastics equipment to the value of £1,569 was purchased during the year.

Trustees

We remain 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. However, finding enough suitable persons willing to consistently undertake the duties of trustees remains a challenge and it is anticipated the club will undertake a wider recruitment drive to improve trustee numbers.

Financial Review

Financial position

The charity made a deficit of £8,122 (2021/22: surplus of £13,834). The total unrestricted net assets stand at £41,358 (2021/22: £49,480).

Income increased to £383,734 (2021/22: £311,826), with the easing of covid restrictions across England and Wales.

The average monthly number of staff employed by the club remained at 20 (2021/22: 18).

Page 4

Cardiff Central Youth Club Ltd (Registered number: 07767261)

Report of the Trustees

For the period 30 November 2022 to 29 November 2023

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 free reserves should be £160,000. This is calculated as the amount needed for 3 to 6 months budgeted expenditure.

However, as of 29 November 2023, the level of free reserves stood at £27,081 (2021/22: £31,035). 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 13[th] June 2011 and registered as a charity on the 1[st] December 2012. The company was formed under a memorandum of association. The memorandum of association sets out the objectives, 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 regularly 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 has one vote and decisions are made when there is a majority.

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

Organisational structure

The club has a volunteer committee led 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 reported to the Trustees. The coaches are led by 2 head coaches and have representatives on the committee.

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

Page 5

Cardiff Central Youth Club Ltd (Registered number: 07767261)

Report of the Trustees For the period 30 November 2022 to 29 November 2023

Registered Office

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

Trustees

P Bryan G L Wilsher M Higgins

Independent Examiner

Gary Butt BYB Accountancy ltd 39 Cardiff Road Llandaff Cardiff CF5 2DP

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 6

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

Page 7

Cardiff Central Youth Club Ltd

Statement of Financial Activities

(Incorporating an Income and Expenditure Account) For the period 30 November 2022 to 29 November 2023

Notes
Income and Endowments from
Charitable Activities
Recreation and other leisure
facilities
4
Other trading activities
3
Other income
5
Total
Expenditure on
Raising funds
6
Charitable activities
Recreation and other leisure
facilities
7
Total
NET INCOME/(EXPENDITURE)
Reconciliation of Funds
Total funds brought forward
Total funds carried forward		 Period
30.11.22
to
29.11.23
Unrestricted
fund
£
199,846
183,777
111
383,734
14,013
377,843
391,856
(8,122)
49,480
41,358		 Period
30.11.21
to
29.11.22
Unrestricted
fund
£
171,552
139,715
559
311,826
8,674
289,318
297,992
13,834
35,646
49,480

The notes form part of these financial statements

Page 8

Cardiff Central Youth Club Ltd

Balance Sheet 29 November 2023

Notes
Fixed Assets
Tangible assets
13
Current Assets
Stocks
14
Debtors
15
Cash at bank
Creditors
Amounts falling due within one year
16
Net current assets
Total assets less current liabilities
Creditors
Amounts falling due after more than
one year
17
NET ASSETS
Funds
Unrestricted funds
20
Total funds		 Period
30.11.22
to
29.11.23
Unrestricted
fund
£
14,277
500
7,223
73,011
80,734
(33,745)
46,989
61,266
(19,908)
41,358
41,358		 Period
30.11.21
to
29.11.22
Unrestricted
fund
£
18,445
500
6,012
77,130
83,642
(22,684)
60,958
79,403
(29,923)
49,480
49,480

The charitable company is entitled to exemption from audit under Section 477 of the companies Act 2006 for the period ended 29 November 2023. The members have not required the company to obtain an audit of its financial statements for the period ended 29 November 2023 in accordance with Section 476 of the companies Act 2006.

The trustees acknowledge their responsibilities for

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small financial 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 9

Cardiff Central Youth Club Ltd

Notes to the Financial Statements

For the period 30 November 2022 to 29 November 2023

1. Statutory Information

Cardiff Central Youth Club 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, C24 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.

2. Accounting policies

Basis for 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 120) (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 Youth Club 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 free reserves at the period end of £27,081 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 in to 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 fund, 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.

Page 10

Cardiff Central Youth Club Ltd

Notes to the Financial Statements

For the period 30 November 2022 to 29 November 2023

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.

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’s 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 Improvement 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 allowances 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 a particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular or 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.

Page 11

Cardiff Central Youth Club Ltd

Notes to the Financial Statements For the period 30 November 2022 to 29 November 2023

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 represent 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.

3. Other trading activities

Sponsorship
Facilities hire
Café Income
Parent & toddler drop in
In house competition fees
4.
Income from charitable activities
Activity
Gymnastic fees
Recreation and other leisure facilities
Sports Council Wales
Recreation and other leisure facilities
Welsh Gymnastics
Recreation and other leisure facilities
5.
Other income		 Period
30.11.22
to
29.11.23
£
110
59,677
60,176
55,448
8,366
183,777
Period
30.11.22
to
29.11.23
199,846
-
-
199,846
Period
30.11.22
to
29.11.23
£		 Period
01.12.21
To
29.11.22
£
1,451
50,123
45,598
39,701
2,843
139,716
Period
01.12.21
To
29.11.22
171,552
-
-
171,552
Period
01.12.21
To
29.11.22
£

Page 12

Government grants - 559 Bank interest received 111 - 111 559

Page 13

Cardiff Central Youth Club Ltd

Notes to the Financial Statements For the period 30 November 2022 to 29 November 2023

  1. Raising funds Other trading activities
Period
30.11.22
to
29.11.23
£
Opening stock
500
Purchases
14,013
Closing stock
(500)
14,013
7.
Charitable activities costs
Direct Costs
Support
costs (see
note 8)
£
£
Recreation and other leisure facilities
282,311
95,532
8.
Support costs
Management
Finance
Information
Technology
Other
£
£
£
£
Recreation and other
leisure facilities
77,155
1,372
5,403
9,442		 Period
01.12.21
to
29.11.22
£
500
8,674
(500)
8,674
Totals
£
377,843
Governance
Costs
Totals
£
£
2,160
95,532

9. Net income/(expenditure)

et income/(expenditure)
Period Period
30.11.22 01.12.21
to To
29.11.23 29.11.22
£ £
Depreciation – owned assets 5,743 5,962
Hire of plant and machinery 3,699 15,707
Other operating leases - -
Surplus on disposal of fixed assets - -
Independent examiners fees 1,800 1,800

10. Trustees’ remuneration and benefits

The remuneration benefits paid during the year to trustees, who were also directors, totals £7,427 (2021: £7,863)

Page 14

The following individuals received remuneration for the period in which they were trustees during The following individuals received remuneration for the period in which they were trustees during The following individuals received remuneration for the period in which they were trustees during the financial year:
Michael Higgins 2023 2022
£ £
Salary 7,335 7,813
Benefits in Kind - -
Pension benefits 92 50
Total remuneration package 7,427 7,863

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

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

Cardiff Central Youth Club Ltd

Notes to the Financial Statements For the period 30 November 2022 to 29 November 2023

11. Staff costs

Wages and salaries
Social security costs
Other pension costs
The average number of employees during the period was as follows:
Management
Support
There were no redundancies during the year (2022: nil).
12. Comparatives for the Statement of Financial Activities		 Wages and salaries
Social security costs
Other pension costs
The average number of employees during the period was as follows:
Management
Support
There were no redundancies during the year (2022: nil).
12. Comparatives for the Statement of Financial Activities		 Period
30.11.22
to
29.11.23
£
246,888
7,602
10,604
265,094
Period
30.11.22
to
29.11.23
1
18
19		 Period
30.11.22
to
29.11.23
£
246,888
7,602
10,604
265,094
Period
30.11.22
to
29.11.23
1
18
19		 Period
01.12.21
To
29.11.22
£
196,940
3,256
2,217
202,413
Period
01.12.21
To
29.11.22
1
17
18
Income and endowments from charitable activities
Recreation and other leisure facilities
Other trading activities
Other income
Total		 Unrestricted
fund
£
171,552
139,715
559
311,826
omparatives for the Statement of Financial Activities
Unrestricted
fund
£
Income and endowments from charitable activities
Recreation and other leisure facilities 171,552
Other trading activities 139,715
Other income 559
Total 311,826

Page 15

Expenditure on

Expenditure on
Raising funds
Charitable activities
Recreation and other leisure facilities
Total
NET INCOME/(EXPENDITURE)
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 8,674
290,064
298,738
13,088
35,646
48,734

Page 16

Cardiff Central Youth Club Ltd

Notes to the Financial Statements For the period 30 November 2022 to 29 November 2023

13. Tangible fixed assets
Improvements
to Property
£
Cost
At 30 November 2022
33,796
Additions
-
Disposals
-
At 29 November 2023
33,796
Depreciation
At 30 November 2022
19,134
Charge for the year
3,380
Eliminated on disposal
-
At 29 November 2023
22,514
Net book value
At 29 November 2023
11,282
At 29 November 2022
14,662
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)		 Plant and
Machinery
£
66,926
1,569
-
68,495
63,137
2363
-
65,500
2,995
2,107
2023
£
500
2023
£
7,223
376
7,599
2023
£
10,015
-
569
3,260
19,901
33,745
2023
£
19,908
-
19,908		 Totals
£
100,722
1,569
-
102,291
82,271
5,743
-
88,014
14,277
16,769
2022
£
500
2022
£
5,954
58
6,012
2022
£
9,767
-
1,366
8,550
3,001
22,684
2022
£
29,923
-
29,923

Page 17

Cardiff Central Youth Club Ltd

Notes to the Financial Statements

For the period 30 November 2022 to 29 November 2023

18. Loans

An analysis of the maturity of loans is given below:

2023
£
Amounts falling due within one year on demand
Bank loans
10,015
Other loans
-
10,015
Amounts falling due between one and two years
Bank loans - 1-2 years
19,908
Other loans - 1-2 years
-
19,908
Amounts falling due between two and five years
Bank loans – 2-5years
-
Other loans – 2-5 years
-
-
easing agreements
inimum lease payments under non-cancellable operating leases fall due as follows:
2023
£
Within one year
-
Between one and five years
-
-		 2022
£
9,768
-
9,768
20,282
-
20,282
9,640
-
9,640
2022
£
2,513
-
2,513

19. Leasing agreements

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

Page 18

Cardiff Central Youth Club Ltd

Notes to the Financial Statements For the period 30 November 2022 to 29 November 2023

20. Movement in funds

Movement in funds
Unrestricted funds
General fund
TOTAL FUNDS
Net movement in funds, included in the above are
Unrestricted funds
General fund
TOTAL FUNDS
Comparative movement in funds
Unrestricted funds
General fund
TOTAL FUNDS		 At
30.11.22
£
48,734
48,734
as follows
Incoming
Resources
£
383,390
383,390
At
01.12.21
£
35,646
35,646		 Net
Movement in
Funds
£
(8,122)
(8,122)
Resources
Expended
£
(391,512)
(391,512)
Net
Movement
in Funds
£
13,088
13,088		 At
29.11.23
£
40,612
40,612
Movement
in Funds
£
(8,122)
(8,122)
At
29.11.22
£
48,734
48,734

Comparative net movement in funds, included in the above are as follows

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
Resources
£
311,826
311,826		 Resources
Expended
£
(298,738)
(298,738)		 Movement
in Funds
£
13,088
13,088

Page 19

Cardiff Central Youth Club Ltd

Notes to the Financial Statements

For the period 30 November 2022 to 29 November 2023

21. Related party disclosures

There were no other related party transactions for the period ended 29 November 2023 nor the year ended 29 November 2022 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 winding up.

Page 20