COMPANY REGISTRAMON NUMBER: 07399902 CHARrrY REGISTRATION NUMBER: 1145583 SEF CYMRU Company Limited by Guarantee Unaudited Financial Statements 31 October 2024 SAK2020 LTD. Charteied Certtfied Accountants Broadway House Broadway Cardiff CF24 IPU
SEF CYMRU Company Limited by Guarantee Financial Statsments Year ended 31 October 2024 Page Trustees, annual report (incorporating the directoffs report) Independent examine¢s report to the trustees statement of financial aclrvities (including income and expenditure account) Statement of financial position Notes to the financial statements 10 11 The following pages do not fom part of the financial ststements Detailed statement of financial activtties 18 Notes to the detailed statement of financial activities 19
SEF CYMRU Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) Year ended 31 October 2024 The trustees. who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 October 2024. Reference and administrative deLiils Registsred charity nam& SEF CYMRU Charity registration number 1145583 Company reglstration number 07399902 Principal office and registered Grange Pavilion office Gmnge Gardens Gongetown Cardiff CF117LJ UK The trustees Mr AABDI Mrs S MALIK Mrs SAWAIS Independent exarnin8r SAK2020 Ltd. Chartered Certified Accountants Broadway House Broadway Cardiff CF24 1PU
SEF CYMRU Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (¢0nttnt0} Year ended 31 October 2024 Structure, govemance and management Our History SEF Cymnj was established in 2000 in response to the [SIStenI issue of underachievement among students in Cardiff, particularty within the Somali ¢ommunity. Frorn ils inceplh)n, the organisab.on has been dedicated to improving the educational outcomes and life chanS of children and young people by providing academic support and creating opportuntties for arnIng and development. Over the years, SEF Cymru has expanded ils work significantly. We are pyoud to currently provide tuition and academic support to over 100 children in core subjects including Mathematics. English. and Science - extending lo A-level conlenl for older leamers In addits-on lo youth-focused education, we have also introduced taster courses and skills programmes for parents in our community. These sessions are designed lo help participants build confidence. develop new skills, and improve selfthesteem, empowering them to engage more fvlty in UCa.on, work, and (avic life. OurAims Our chaiity's primary aim is lo advants education for the public benefft, wrth a parbcular, though not exclusive focus on Cardiffs Somali and ethnically diverse communits'es. We achieve this through the provision of tailored educatron31 enrichment, ESOL (English for Speakers of Other Languages) classes, and communty seminars. We are guided by the following core OblVes. Overcoming educational underachievement anN)ng disathanlaged and underrepresented leamers.. Removing baftiers to lifelong reaming aThJ ski115 training for people of all ages,. Promoting social inclusion through aCCesbIe and cultur31ty relevant educatK)n', Raising awareness of negative infftuences - such as povety, systemic inequality, and lack of opportunity that can prevenl individuals from reaching their full polenlral. Objectives and Activltles At SEF Cymru, we believe that edUCatn is not jusl al)oul academic achi?vemenl bul aboul equipping individuals with the tools to thrive in every aspeGt of life. Our work is rooted in the belief that leaming should be inclusive. empowering. and community-led. Key Areas of Focus.. Providing slruclured academic iuilion lo help students meet and exceed curriculum exptationS. Offering ESOL and language development support for children and aduEts lo strengthen communication and confidence., Running personal developnEnl workshops and seminars that promote identity. resilien, and self-esleem., Crealitw pathways into further educalion. skn'lls tfaining, 2nd employment for youn9 people and adults alike. We leach and support learners lo.. Apply effecbve leaming techniques: Become independenL lifelong learnetS-. Develop creative problem-sofving abilitie5." strengthen behavioural and emotional self-regulation skills. By fostering an engaging and suppothe learning enVironnn{ we aim to Lx)05t selfwa)nfiden(E, raise aspirations, and support Individuals in achieving their full potential.
SEF CYMRU Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (cL11UedJ Year ended 31 October 2024 Our Mission Statement Education is the key lo success. We believe education Iransfomis INes, unlccks potential, and lays the foundation for slron9er, more connected communities strategic Rewrt The lollowing sections, including Achievements and Performance and the Financial Review, form the Strategi¢ Report of SEF Cymru. These oudine our progress over Ihe past year. the positive impact of our programmes, and our StratlC direth.on as we conb.nue to build an inclu5Ne educational offer for A¢hievem¢nts and perfoman¢e Dear Memkrs, As we approach the end of our financial year in October 2024. we are pleased lo share a brief update on the continued progress and impact of SEF Cymru's work acr0&8 the Southem Arc of Cardiff. Over ihe past year, SEF Cymru has made SignifinI strKles in supporting children. young people, and families in some of the Gity s most underserved communities. Our commitment lo addressing educatiornal inequaltty, promting inclusK)n. and fostering cDmmunty tesilience has remained al the heart ofeverylhing we do. We are proud to report that the successful acquisition of funding through the UK Shared Prosperity Fund (SPF) has played a pivolal role in enabling our charity to grow and strengthen its impact. These funés have allowed us to expand OLFr reach and deepen our engagemenl with diverse communities through a wide lange of partnerships. programmes. and events that refiecl the needs and aspirations of the people we serve. One of the mst in4ernand areas of our work ntinueS to be oui tuit clubs and mentoring programmes, which are currently being delNered successfully wtth support from the SPF. These initiatives have been inslrumental in irnproving educab.onal outcomes and providing vit81 personal development support lo young people and families_ Delivered from the heart Of the community al Grange Pavilion. these sessions have not only enhanced leamers. Confiden and attainment bul have also reinforced our close WOTking rdationships with families, schools. and local partner5. The consistent demand for our serveS speaks lo both the trust placed in us by the community and the ongoing need for high-quality, culturally reswnsive support. remain committed to meeb'ng this demnd by continuing to deliver impacthjl sessions while also pL3nnirrfJ for the future. Looking ahead, SEF Cymru is actively expk)ring new OPFQrtunitses to expand our work and secure further funding that will sustain and scale our projects_ Our aim is to develop Innovab've, community-led initiatives that create k)ng-term positive change. empower families, and help communities across Cardiff lo prosper. Thank you for your continued support and partnership. Tcgether. we can continue building a stronger, fairer. and more inclusive future for all.
SEF CYMRU Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 31 October 2024 Shared Prosperty Grant 2023-24 Project: lrnproving Educational Outcomes in the Southem Arc of Cardiff SEF Cymru successfully implemented the Improving Educational OulconEs project, which provKted academic support for young people in the Southern Arc of Cardiff. Through the employment of qualified leathers and the provision of bcal. accessible learning spaces, Ihe project delivered subject-speufic tuloring and CurtilUrr3lI9ned study support. Malerials and slruclured lessons were designed to help students improve their understanding of key academK areas while buikjing sludy slIS and confidence_ The programme had a notable imp¥t on leamers at risk of underachievernenL wlh feedback highlighting incfftased Motivatn. better engagement wth scFK)ohwork, and improved perfom)ance. The Gommunity-based delivery nwxlel also helped trlId twsl wth families and ensured the support was culturally sensitive and responsive. Shared Prosperity Small Grant Fund 2024-25 Project: Empowering Dlverse Communities Neurodiversity SEF Cymru successfully started the Empowering Diverse Communities Neurodivetsity Project, which provides targeted supp)rt for ethnic minority parenls and guardians of children with neur1Verse conditions. This initiats've addresses emotional. practical. and systemic challenges through tailored guidance. peer.led support ses51Dns. and culturally relevant information. The programme creates safe spaces where families COU share experiences. asS wofessKJnal advice. and build a deeper underst8nding of neurodiversity- By Improving community awareness and helping families navigate education and healthcar8 Systems, the project will have a lasting impacl on parlicipaling families. leading to greater empowerment, improved confiden, and stronger ConnectnS to support nehvorks &ross Cardiff. SPF Cardiff Council Open Call 2023- 2025 Project: The"Somali Achleve" Ralslng Achievement Programme The'somali Achieve" Raising Achievement Programme has been successfvjlty ftjnded and is current ongoing. It is a comprehensive and taiknred Inibab've developed lo uplift the educational outcomes of secondary-age Somali students in Cardiff by addressing their unique Ghallenges and fostering a CLsllure of excellence. The programme takes a holistic approach to emwwermenl. offering: Academic Support. Delivered by trained $12ff to align wth curriculum needs. Language Empowernient-. Strengthening English literacy while Iebratsng Somali heritage. Cultural Enri¢hment." Activib'es that pronw)te cultural pride and identity.
SEF CYMRU Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directorfs Report) (contfnued) Year ended 31 October 2024 Mentoring.. Connecting students wtth p)sitive role models from the community. College and Career Readiness.. Supporting future planning through practical workshops. Parental Engagement.. Involving families in the leaming Journey. Monitoring and Evaluation.. Ensuring data-Infomd ddivery and continuous improvement. Use of Funding The funding for this prcgramme is being strategiralty utilisl across the following areas.. Employment of tutors. mentors, and facilitators. Communty-based delNery of study sessions and workshops. Development of CLtlturalty tailored resources. Costs associated with enrichment activities. guest speaker5. and events. Evaluation, data collection. and reporting mechanisms. The pr(raMMe is designed to create sustainable, loftg-tervn change ty reducing educational disparities, empowering students. and strengthening links between schools, communities, and lamilies. By embracing academic excellence and cultural pride, Ihe"Sornali Achieve" Programme continues to make a measurable difference to the lives of young peop and the wider Sonigli community In Cardiff. Community OrganTsing wlth Cltizens Cymru Wales SEF Cymru continues lo be an active and committed member of Cttizens Cymru Wales, championing communty-led action and swial Jusb" across Cardiff. Building on the legacy of our People's Health Trusl-funded proje¢l. we have continued to address tK>verty. discrimination, and unconscious bias in recruitmènt- issues thal disproportionatety affect ethnic minotity communities and those living in areas of hEh deprivation. This work has evolved into the Ffair Job5 Cymru initiative. which has grown in strength and visibility over the past year. Operating across Cardiff Bay and the Cily Centre, Ff8ir Jobs Cymru brings tcgether local residents, community leaders. and major employers lo build relationship5, challenge inequality, and negotiale for meaningful change in hiring pracbces and workforce inclusion. Over the past year alone, more than 120 local people have been supported into employment and training through this inilialive. Ffair Jobs Cymru has been InstruEntal in tackling long-standing issue5 Df unemployment and under-representation by creating pathways into sustainable work. while also shifb.ng mindsets amon9 employers about the value of a diverse workforce. What make5 thi5 project unique is ils ability to unite communttie5 who may not typically work together. 105tering solidarity around shared goals. By empowering residents to speak directly to those in positions of power ané influen, Ff8ir Jobs Cymru has helped shape more equitable employment practices while offering hope and opwrtunily lo ihose who need it most.
SEF CYMRU Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) {contsnuedJ Year ended 31 October 2024 'Ffair Jobs Cymnj is about mre than just getting people into jobs-it's about changing sysletns and shifb'ng power. We've shown what's wssible when llxal people come together, raise their voices, and negotiate with confidence. This is what true community power looks like." Ali Arshad, Ffair Jobs Cyrnru Load Organiser The SucsS of Ffair Jobs Cymru is a testarrEnl to what Ggn be a¢hVed when communilies are equipped to lead and organise for justice. We remain committed to supporting this vital work and ensuring that the voices of our ¢ommunrties continue to shape the future of employment and opportunity in Cardiff. Wales Somaliland Youth Llnk$ The Wales Somaliland Youth Links PTogramme continues to build strong relationships between the Somaliland Diaspora in Wales and communities in Somaliland. rkIng closely with Cardiff University, the Initiative aims to strengthen cultural, educational. and civic ties while promoting greater understanding and collaboration btheen both regions. Celebrating Somaliland Independence This year, we matked Somaliland Independence Day wth a landmark Flag Rai5iThJ Ceremony at Cardiff Castle, attended by senior dignitaries including minislets from the Somaliland GoVernnt, representatives from the Welsh Govemrnent. Cardrffcouncil Cabinet Members. local councillors, and council officers. In a show of solidarity and celebration. the Wales Millennium Centre also lit up its iconic building in the colrS of the Somaliland flag-a powerful Sym1 of unity, pride. and recognition of the Somaliland community's contribution to Welsh life. Study Clubs Our highly successful Study Clubs rAint"nue to run tsvice a week at the new Grange Pavilion, providing vital academic support lo young people in the communrty. Sessions lake place on Thursdays and Sundays and regularly attract over 100 participants. The clubs offer a safe. slruclured environment for student5 to receNe help with their studies, build confiden. and engage wrth positive role model5. Comfftunity Engagement and Events SEF Cymru remains a trusted vCe on issues afftIng Somali and wider Black, Asian and Minority Ethnic IBAMEI communities in Wale5. are iegularfy invited to speak al and participate in events focused on education, youth, and c(Hnmunty inclusion. sharing best praCtIS and advocating for equitable sUpFrt for children and families. Advice and Infonnation Service Wfftile currently operating on an ad-hoc basts due to limited reSoUrs, our advice and information service continues lo proviée essential guKlance to those in greatest need. We support individuals and families with issues rangin9 from educatKin and housing to benefits and well4Eing. Given the continued high demand culturally competent advice See$. we recognise Ihe urgent need to invest in this aa. Expanding and resourcing this SerVe remains a key priority for future evelopmenl, especially as families navigate Ineteasing economic and social pressuies.
SEF CYMRU Company Limitsd by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (contlnuedj Year ended 31 October 2024 Finanelal revlew Ttte charity generated a negative OL[1rne of £14.251.64 for the year ended 31 October 2024. There was a reconciliation of fund5 this fin3nc4al period and that lolal funds brought forward was £52,570 with the lolal fttnds carried forward being £38.318. Plans for Futur¢ Period$ The Charity pl2ns to ¢onlinue the activities outlined above in the coming years, subject to securing satisfactory funding arrangements. Building on the successes achiev lo date, we are commilled to expanding our reach and imp*t within the communibes we serve. We recognise that without adequate resources, our capacity lo support more chiklren. young peop, and families- particularly from BAME bad(grounds will remain limited Therefore, we are actively pursuing further funding opportunities to.. Expand our Study Clubs and leaming programmes lo provKJe enhared academ support and enrichment for children and families from diverse badfgrounds. Develop our Youth Sport and Wellbeing activities, promoting physical health. teamwork, and positive mental health arrnng young people. Strengthen Parent and Guardian skill-building and support programmes, equipping families with the tools and knowledge lo better support their children's education and wellbeing. Strengthen and grow our advice and guidan service5. enabling us to respond more effectively lo emerging social, economic. an(J educab.onal challenges facing Somali and other BAME communilies. Continue lo develop our inlemational development work in partnership with Somaliland, fostering mutual beneffts and stronger ties between Wales and Somaliland. If funding applications are successful. we will priorrti8e focusing our activrties in Cardiff South. an area of documented high need and disadvantage. where our InterventnS can make the greatest difference. Additionally, we plan lo deepen our involvement in the brand-new Grange Pavilion building. where we are a strategic p8rtner. This state-of-the4rt communrty facility serves as a vibrant hub for our prr8mmeS, enabling us to deliver servi¢es mre effectively and reach a broader SegnnI of the community. Through these plans. SEF Cymru aims to build on its foundation of success to crÈ8le lasting positive change, empower communities. and improve educab.onal and sockql outcomes across Cardiff and beyond. The trustees, annual report and the strategic report were approved on .......201D812025....... and signed on behalf of the ard of trustees by.. Mr A ABDI Trustee
SEF CYMRU Company Limited by Guarantse Independent Examiner's Report lo the Trustee5 of SEF CYMRU Year ended 31 October 2024 We report to the trustees on our examination of the financial statements of SEF CYMRU {'the charity, for the year ended 31 October 2024. Responsibilities and bas1$ of report The trustees Iwho are also the directors of Sef£ymru for the purposes of company lawl are responsible for the pparatioN of the a(OUnt$ The trustees cx)nsider that an audit is not required for this year under section 144{21 of the Charities Act 2011 (the 2011 Act) and that an independent examination is needeé. Having satisfied ourselves that the company is not subject to audit under cornpany law and is e1ible lor independent examination. it is our responsibilrty to" Examine the aCCnIS under section 145 of the 2011 ACL to follow the procedures laicl down in the general Directions gNen by the Charity Commission under seetÉon 145 (5llb} of the 2011 Act,. and to state whether particular matters have me to Ouf attention. Independent examiner's ststement - matter of ¢oncem identified Independent examiner We confirm Ihal no other matters have come to our allenb'on in connection wrth our examination giving us cause to believe that in any material respect." accouHlir)g cOrdS were not kept in respect of the charity as required by section 386 of the 2006 Act,. or the financial statements do not accord wtlh those rec(d5., or the financial statements do nol comply wilh the acc(NJnting requioments of section 396 of the 2006 Act other than any requirement Ihal the accounts give a 'true and fairf vw which is not a matter considered as part of an independent examination. or the financial slalements have not been prepared in aco)rdance with the methods and principles of the Stslement of Recommended Pfactice for accounting 2nd reporting by charilies applicable lo charities preparing their &counts in accordance with the Financial Reporting Standard appluble in the UK and Republic of Ireland IFRS 1021. We confirm that there are no other matters to which your attenbon should be drawn to enable a proper understanding of the accounts to be reach&J. Independent Examiner SAK2020 LTD. Chartered Certified Accountants Broadway House Broadway Cardiff CF24 1PU
SEF CYMRU Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 October 2024 2024 Unrestricted funds Total funds Total fvnds 2023 Note Income and endowments Donations and legacies Total income 29.020 29,020 10,000 10,000 29.020 29,020 Expendlture ExFtnditure on raising funds.. Costs of raising donations and legaaes Total expenditure 43,272 43,272 19,427 19,427 43,272 43.272 Net expenditure and net movement in funds 114.2521 {14.2521 (9.4271 Reconciliation of fund$ Total funds brought forward Totsl funds Garried forward 52.570 52,570 61,997 38,318 38,318 52,570 The statement of financial activitS includes all gains and losses recognised in the year. All income and expenditure derive from conlinuing tIvIties. The notes on pages 11 to 16 fomi part of these ffinancial statements.
SEF CYMRU Company Limited by Guaranlee Slalemenl of Financial Position 31 October 2024 2024 2023 Note Fixed assets Tangible fixed assets 4,085 5,106 Current assels Cash at bank and in hand 34,233 47,764 Credltors.. amounts falling due within one year Net currènt assets 10 300 34.233 47,464 roial asseis less eurrenl liabilities 38.318 52,570 Net assets 38,318 52,570 Funds ot the ¢h8rlty Unreslricled funds 38,318 52,570 Total charlty funds 12 38.318 52,570 For the year ending 31 OctobeT 2024 the charity was entitled to exemption from audit under section 477 of the Gornpanies Act 2006 relating lo Sm1 wmpanies. Trustees. res$11"1rtie5= The members have not required the company to oblan an audit ol rts financial stalements lor the year in question in accordance wth 58clion 476.. The Iruslees ack[edge IheiT responsiTrJ"lilies for COTnplwng with the requirefftents ol the Act with respe¢l lo accounting ro¢ords and th8 preparalion of financi statements. These financial statements have been wepared in accordance with the provisions applicabl& to companies sutieet to the small companies. regime. These linanoal slalemenls were apptoved by the tM)ard of trusle&s arKI aulhoiised lor issue on -.20108r2025............................., and are signed on behalf ol Ihe ard by: Mr A ABDI Trusleg The notes on pages 11 to 16 fonn part of these Ilnancial statements. 10
SEF CYMRU Company Limitsd by Guarantee Notss to the Financial Statsments Year ended 31 October 2024 Stat8ment of compliance These finanoal statements have been prepared in COTnplk8nce wlh FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,. the Statement of Recommended Practice applicable to charities prepaiing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} (Charities SORP IFRS 10211 and the CompaniesAct 2006. Aceounting policies Basls of preparation The financial stalements have been prepared on the histoal cost basis, as modified by the revaluation of certain th'nancial assets and liabilities and investment propèrties measud at fair value through in¢ome or extenditure. Th8 financial staternents are prepared in sterfing. which is the functional currency of entity. Going concem There are no material rrtaInts atrK)ut the charity's ability lo continue. Fund accounting unrestrict funds are available for use al the discretion ol the trustees lo further any of the charity's purposes. Designated funds are unreStrted funds eamiarked by the trustees for particular future projecl or commitment. Restricted funds are subjected to restrictions on their expenditure dedared by the donor or through the terms of an appeal. and fall Into one of two sutkclasses.. restricted income funds or endowment funds. 11
SEF CYMRU Company Limited by Guarantee Notes to the Financial Statements Iconlrnued) Year ended 31 October 2024 Accounting policles (condnue Incoming resources Al incoming resources are included in the statement of financial activities when entiuetnent has passed to the charity.. it is probable that the economic trenefits associalecl with the transaction will flow to the charity and the amount can be reliably mea5LJred. The following specific policies are applied lo particuL4r categories of income.. income from donations or grants is reccgnised when there is evidence of entillemenl lo the gift, receipt Is probable and rts aryK)unt can te measured reliably_ legacy income is recognised when receipt is probable and entityement is established. income from donated goods is measured at the fair value of the goods unless this is impractical lo measure reliably.. in which case the value is derived from the cost to the donor or the eslimaled resale value. Donated faU1rf(S and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contn"bubon of general volunteers. income from contracts for ihe suppty of SeNiS is recognised with the delivery of the contracted seNice. This is classrfied as unrestricted funds unless there is a contractual requirement lor It to be spent on a partular purpose and returned if unspenL in which case may be regarded as restncled. Resources expended Expenditure is recognised on an accrua15 basis as a liabilty is incurred. Expenditure includes any VAT which cannot be fvlly recovered. and is dassified under headings of the statement of financial activities to which it lates". expenditure on raising fund5 incfudes the costs of all ndraISing actTvities, events, non4charilable trading 3ctivib"es, and the sale of donated goods_ expenditure on charitable actNilies includes all cosls incurred by a charity in undertaklng tivities that further its charitable aims for the benefft of its teneficiaries. including those 5UPPOrt costs and costs relating io the governance of the charity apporboned to charitable tivities. other expenditure includes all expenditure that is netther reted to raising funds for the charity nor part of its expenditure on charitsble activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct c051s attributable to a single activty are allLxated directty lo that activity. Shared costs are apportioned belween the activities they contribute lo on a reaso[b, justs'fiable and consistent basis. Tangible assèts Tangible assels are inrtialty recorded at cosL and subsequenlly stated al cost less any a¢¢umulated depreciakn'on and impairment losses Any tangible assets carried at revalued arnounls are rOrded al the fair value al the dale of revaluation less any subsequent accumulated depreciation and subsequent accumulated Impairment losses. 12
SEF CYMRU Company Limited by Guarantee Notes to the Flnancial Statements {contlnuedJ Year ended 31 October 2024 Accounting policies (¢onllnuedJ Tangible assets (conunuedj An increase ill the carying amount of an asset as a result of a revaluation. Is recognised in other recognised gains and losses, unless il reverses a Charge for impaimient that has previously teen recognised as expenditure within the slalement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation. 15 reeognised in other recognised gains and losses, except to which it offsets any wevioys revaluation gain, in which case the loss is shown within Dther recognised gains and losses on the statement of financial actwib"es. Depreciation Depreciation is calculated so as to write off the cost or valuab.on of an assel. less ils residual value, over the usefLJI economic lrfe of that asset as follows. Impairment of flxed assets A review for indicator5 of impaimient is carried out at each rewting date. wrth the recoverable amount being estimated where such indicators exist ere the carrying value eXedS the recoverable aTnount, the asset is impaired a¢¢ordingty. PrKsr impaimients are also reviewed for possible reversal at each reporting date. For the purposes of impairment te5kn'ng. when it is nol possible to estimate the recoverable amount of an individual asset. an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash%enerating unit is the smallest identifi8ble group of assets that includes the asset and generales cash inflows that largely independent of the cash inflow5 from other assets or groups of assets. For impairment testing of gCK)lII, the gotsjwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets Dr liabilities of the charity are assigned lo those units. Financial instrurnents A financial asset or 2 financial liability is wognised onty when the charity become5 a party to the contractual provisions of the instrumenL Basic financial instruments are initially recognised at the amount receivable or payable including any relaled 1ran5ath.on costs. Current assets and current liabilities are subsequenlty measured at the cash or other consideration expected to be patd or received and not discounted. Debt instruments are subsequentty measured al amortised cost. Wheie investments in shaTe5 are PUblty traded or their fair value Can otherwise be measured rdiably, the investment is subsequendy measured at fair value with changes in fair value re(nised in Income and expenditure. All other such investments are subsequently measuied at cost less impairment 13
SEF CYMRU Company Limited by Guarantee Notes to the Financial Statements (continTJgdJ Year ended 31 October 2024 Accounting policies (contirtue Financial instruments (et)nllnued) Other financial instruments, including derivalives, are inilialty recognised at fair value, unless payment for an asset is deferd beyond normal business lerrrts or financed at a rate of interest that is not a market rate, in which case the asset Is measured at the presenl valLse of the future payments discounted at a mathet rate of interest for a similar debt instrument. Other finantial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial actnirties. wrth the eXpIlOn of hedging instruments in a designated hedging relationship. Finallcial assets thal are measured at cost or arnrts.sed cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financia5 activities in which Ihe inibal gain was rewnised_ For all equity instruments regardless of significance, and other financial assets that are individualty significant, these are a5ses*J indwidualty for impairment. Other financial assets are either assessed individually or grou on the basis of similar credrt risk characteristics. Any reversals of impairment are recognised immediatety. to the extent that the reversal does not result in a carrying amount of the financial asset that ex¢eeds what the carrying amount would have been had the impaimienl not previousty been recognised Defined contribution plans Contributions to defined Contribut)n plans are recognised as an expense in the period in which the related seNice is provided. Prepaid contribubon5 are recognised as an as5el to the extent that the prepayment will lead to a reduction in fijlure payments or a cash refvnd. INhen contributions are not expected lo be settkd wholiy within 12 months of the end of the reporbng date in which the employees nder the related servi. the liability Is measureé on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which r( arises. Limited by guarantee Donations and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donations Other Grants 29.020 29,020 10,(M)O 1D,ODO 14
SEF CYMRU Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 October 2024 Costs of ralslng donallons and legacies Unrestricled Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Costs of raising donations and legacies - Other tyrk 1 43.272 43,272 19,427 19,427 Net expenditur¢ Nel expenditure is stated after chargi@Icrediting}'. 2024 2023 DeprecialiDn of tangible fixed assets 1.021 1.277 Staff costs The total staff costs and employee benefits for the retxjrting period are analysed as follows." 2024 2023 Employer contributi5 to pension plar 720 The average head count of empk)yees during the year was Nil12023.' Nil). No empk)yee received employee tenefits of ¢Th)re than £60,000 during the year12023.' Nil). Trustee remuneration and expenses No trustee or other person relaled to the charity had any personal inlerest in any contract or tfdnsaction entered into by the charty during the year_ Tangible fixed assets Equipment Cost At 1 November 2023 and 31 October 2024 10,560 Depreciation At 1 November 2023 Charge for the year At 31 October 2024 5,454 1,021 6,475 Carrying amount At 31 October 2024 4,085 Al 31 October 2023 5,106 15
SEF CYMRU Company Limited by Guarantee Notes to the Financial Statements (Continued) Year ended 31 October 2024 10. Creditors: amotsnts falling due within one year 2024 2023 Accruals and delerred IllMe 300 11. Pensions and other post retirernent benefits Defined contribution plans The amount recognised in income or expenditure as an expense in relatn lo defined Gontn"bution plarks was £1720112023.. £Nil). 12. Analysis of charitable funds Unrestrlcted funds At 1 November 2023 At 31 October 2 024 Income ExFEnditure General fvr¢ds 52,570 29.D20 143.2721 38,318 At Al 31 October 2 023 1 Novemb 2022 Income ExndItUre General funds 61.997 10,(X)O 119.427} 52.570 16
SEF CYMRU Company Limited by Guarantee Management Infomiation Year ended 31 October 2024 The following pages do not fomi part of the financial ststements. 17
SEF CYMRU Company Limited by Guarantee Detailed Statsment of Financial Activities Year ended 31 October 2024 2024 2023 Income and endowments Donations and legacies Other Grants 29,020 10,000 Total income 29.020 10.000 Expenditure Costs of raising donations and 18gacies Volunteer expense Community Organisabon Expenses Events Study Club Travel & Subsistence Telephone Aclmin costs Depreciation Accountancy fee5 Repair & renewals Sub contractors Legal & professional fees Sundry 17201 1.164 7.581 24,453 5.125 646 2,343 8,629 2,836 283 3,759 1,277 300 1,021 350 1.179 200 450 383 43.272 19,427 Totsl expenditure 43.272 19,427 Net expenditure 114,2521 19,4271 q8
SEF CYMRU Company Limited by Guarantse Notes to the Detailed Ststsment of Financial Activities Year ended 31 October 2024 2024 2023 Costs of raising donations and legacies Costs of raising donations and legacies - Other type 1 Volunteer expense Community Organisab"on Expenses Events Study Club Travel & Subsistence Telephone Admin costs Depreciation Accountancy fees Repair & renewals Sub contractors Legal & professional fees Sundry 17201 (1.1641 (7,5811 {24.4531 (5.1251 {6461 12,3431 18,6291 12,8361 12831 13,7591 11,2771 13001 11,0211 {3501 11,1791 {2001 {4501 {3831 (43.2721 119,4271 Costs of Tai$ing donations and legacies 43,272 19,427 19