Company registration nurnbeT'. 07872629 Charity regists2tion number." 1147865 Canolfan Gymunedol Ystradowen Community Centre Ltd (A company limiled by gLkarantee) Annual Report and Finan¢ial Staterntnts forthe Year Endcd 31 Marth 2023 Fergusons & Peiers Chartered Accounraors 10 Wesi Street Gorseinon Swansea SA4 4AA Chartered Accountants •ACI54KfjZ4 2Q112r1023 COMPANIES HOUSE
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Canolfan Gymunedol Ystradowen Community CeDtre Ltd Contents Reference and Admini5trdtive Details Strategic Report Trustees. Report 3to5 Independenr Examinevs Report Sthtement of Financial A¢tivitLes Balance Sheet Notes to the Financial Statements 9tt>19
Canolfan Gymunedol Ystradowen Community Centre Ltd Reference and Administrative Details Ch&irman Mr David Belcher (retired) ChArity Registration Nurnber 1147865 Company Registration Number 07872629 The chanty is ineoTtorated in UK. 38 New Road Ystradowcn Carmarth¢n SA9 2YY Registered Office Independent Exgminer Fergusons & Pei¢rs ChaJteNI A¢wunrants l O Wesl Str¢¢t Gor5eiTn Swansea SA4 4AA Page I
Canolfan Gymunedol Ystradowen Community Centre Ltd Strategic Rewrt for the Year Ended 31 March 2023 The trustees, who are directors for the PUryM)se5 of Company law. present their strategic report for the year ended 31 March 2023. in complian¢e with $414C of the Companies Au 2006. Achievtments and perforni&Thce Ystrtdowen Community Centre has been a great support to the COMMnIty throughout the years uniil pr¢sent day whieh h&s proven that the community needs our essential services on a daily tt> ekly basis. OUT services are exp3nding and developin8 further to mttt communiry necds. Following the lead of th¢ community. we will be opening new and excitsng projects to supp)rt the locality and surrounding areas in the future. Our Drivers not only deliver all our tateTin8 servicts but take people sh¢)ppingl¢bctors. dentlSt and eyt appointments along with providing schwl rurbs. In fact whatcver the community needs ar¢_ Th¢y are a great support when dealing with our Lun¢heort Club ¢lients throughollt each week. Our kitthen staff are doing a brilliant job providing three differtnl ¢arirtg services from our kitrhen (Buffets, Community Cafe and Luncheon Club). They take great care dealing with different individtsals and functions we cater for. Our Community Supp)rt Supervisor Is continuing w keep the community hub sustainable with a variety of su¢¢essfvl seThi¢es and a¢tiviti¢s to support th¢ organisation and the communtty. As for the volunteersltrustees they put all they cath irtto the Centrt and 80 over and aFK)ve. Without them we wouldn't be able to provide su¢h essential seNi¢es io the locality and surronding areas. They &re key to the suecess of our organisaiion. I would like to thank all the staff. volunteers. and ¢TUStees for the great wk they do. We will continue the great work we do and help even moTe people in the yeaTS to come. The strategic report was approved by the trustees of the charity on l November 2023 artd sigrted on its behalf by.. Mr David B er Iretiredl Chaimiam and trustee Page 2
C3nolfan Gymunedol Ystradowen Community Centre Ltd Trustees, Report The tru5tce5, who art directo for the purposes of company law, present the annual report together with th¢ financial sthiements of the charitable ¢cKopany for the year ended J l March 2023. Objective$ ad #C¢ivities Objects and oim5 Obje¢tiv¢s and aims The charity's objectives arc as follows-. - to further or benefit the residents of Ystradowen gnd the surrounding a -to advance education- -to Provide fa¢ilities in the ifttrrests of social wElfare for recreation leisure time 0¢Pl0n. and -to improve The condilion of life br the residents Objeclives, str1egItS t7divities Ystradowen Community Cenlre has been a great support to the community throughout the yeats and especially through the pandemi¢ ur21il present day. which has proven that the community necds our essential services on a daily and weekly b1$. Our setvi¢es are now slowly pickÈn8 back up afttt the pandemic and we plan to expand our setvices in the future followiTh8 the lead of the community with new and exciting projects.. Our drivers not only deliver all ovr Catering se]victs but take people shoppints visits to the doctors, dentists and eye appointments. along pmwding schoDI nJThs. In fae¢ whatever the comrnuntiy needs are we are there to provide the support. The dirvers also suppoff the lunch)n club clients throughout the week. 0r kitchen staff are doing a brilliant job providing three different catering Stl£e$ frnm our kitchtn. such as buffets, the community cafe and the luncheon dub. They take great Care dealing with different individuals arhd nciions ihai we ¢atu for. OUT Community SUPPOrt supervisor wo$ her socks off. Doin8 more than some would by oveTseeithg the whole of the work done at the cenlre. As for volunteerslirnstees ihey put all they can into the Centre and go over and above their duties. Without them the Centre wouldn't be able to provide such essential scrvice5 to the lo1 ¢omrHunity surrounding ar¢as. I would like to thank all the staff. volurttee and trust for the great wY)rk they do. We will continue the great Work do and help even more pcople in the years come. Public benefii Activities llndertaken to further blic benefit The trustces confirm that they have Complied with the r¢qllir¢ments of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Trutts and offiters The trustees and offi¢ets serving during the year and sin¢¢ the yezr end w%re &$ follows..
Canolfan Gymunedol Ystradowen Community Centre Ltd Tru5te¢s' Report Trnstees.. Mrs Doreen GJ¥)ve (retired) Mr David Belcher {retired) Ms Kathryn Hght5 (app)inted 20 September 2023) Ms Daphne Jtsne5 (retired) Mr Keith tk)nald Davies (retired) Mrs Margarti Llew¢llyn {apinted 27 February 2023) Ms Julie Rhchards (8ppointed 23 January 2023) Chairman.. Mr David Bekher (retirtd) Stru£ture) governance and management N&thre ofgoverning dottsM¢rtl The charity is a Charitsble company limited by guarantee and is governed by its Memornndum and Arti¢l¢s of Association. Financial in5trurnents Obieciives attdpolici The charity's a¢tivilies expose li a rtumber of financia] risks including credit risK cash tlow risk and liquidity risk. The use of financial derivaijves. is governed by the ¢h3rity'S policies approved by the board of trustccs. which provide itten pnnciples on the use of financial denvatives to manage these risks. T1ie charity doe5 1¥)t usc derivative finaDti81 Instrumen for speculive purposes. C4sliJ7ow Tisk The charity's actlvities expose it primarily to the financial risks of change5 in foreign currency excliange rates and interest ra$. The charity uses foffign exchange fonwd contracts and interest rate Swap contracts to hedge these exposures. Interest bearing as5cts and liabilitic5 held at fixed rate to ensure eertainty of cash flows. Credi¢ risk The charity's principal financial assets are bank balan¢¢s and ¢ash. rrad¢ and other ceiVable5, and investments. The Charity's eredit risk is primarily attributable to its trade rtceivables_ The amounts presented in the balance sheet are net of allowance5 for doubtful receivables. An allowance for impaimi¢ni is made where there is an identified loss eveni which. based on previou5 experience, is evidence of a redu¢tion In the recoverability of the cash flows. The ciedit risk on liquid fvnds and derivativ¢ financial irLStrnments is limitcd kcause the o)unterparttes are banks with high ¢redil-iaiings assigned by irtrnatsonal ¢redi(-raiing agencies. The chlty fio significant ¢on¢entia(ion of credil iisK with ¢xposure spread over a large number of ¢ounteTparties and ¢usiomets. Liquidity risk In order to rnainwn liquidity to ensure that syffi¢ient funds are available for ongoiDg operations and fvwre developments, the charity uses a mixture of long-term and short-iem deb( finance. Further details regarding liquidity risk can be found in the Sta*ment of aOnting w)licies in the financial statements. Page 4
Canolfan Cymunedol Ys¢radowen Community Centre Ltd Trustees, Report SIAiement of tru$tets' rtSPDrt$ibilitiÉs The trustees (who are also the director5 of Canolfafi Gymuncdol Ysttadowen C(xnmunity Centre Lid for the Putposes of company law) are responsible for preparin8 the tru51¢e5' report and the finan¢Jal statements in accordance with applicablt law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). including FRS 102 "The Financial RerA)rting Stsndard applicable in Ihe UK and Republic of Ireland" Company law requires the tnjstees to ppart financial statements for each fjrtancial year. Under company law the irusiees musi ttot approve the financjal 5tatemellts unless they are satisfied that they give a true and fair view of the state of affairs of the ¢haritsble company and of the Incomin8 resouTce5 and application of resource5, including its income and expendilure. of the ¢haritable ¢ompany for that period. ITh preparing these fi[bala1 Statements. thc tru5tecs are required to.. select suitable accountin8 wlicie5 and apply them COnSiSntly- observe th¢ meth(Kts and pnnciples in the Charities SORP- make juduements and &stimat&s thai are reasonable and prudenL state whether applicable ac£ouniin8 Standards, comprising FRS 102 have bttn followed, subject to any material departures diYlosed and explained in the financial 5tstements- and prepaTe the financi31 staternents on die going con¢em basis unless li is Jnapppriat¢ to presume that the charitable comparby will continue in bjsintss. The tnjstees are responsible for keeping proper accountinu records that can disclose with reasonable accuracy at ny lime the fiDan¢ial position of ihe eharitable company and enable them io ensure that the financial staternents ¢omply with the Comparties Aci 2006. They are also responsible for 5afttsuarding the assets of the charitable company and hence for faking reasonable steps for the preveniion and dectkon tsf fraud and other irreoularities. The trustees are responsible for the maintenan¢e and Integrity of the eorpDrate and financial infomiation ineluded on the charitable CoMpanS website. Legislation goveming the preparation and dissemination of financia] statements may differ from legislation in other jurisdictions. The arUal report was approved by the trustees of the charity on l November 2023 artd signed on its behalf by.. Mr David Belcher (retired) Chairtnan and trusttt Page 5
Canolfan Gymunedol Ystradowen Community Centre Ltd Independent Examiner's Report to the trustees of C2nolfan Gymunedol Ystradowen Community Centre Ltd {'the Company,) I rep)rt to the tharity trustees on my examinaiioth of th¢ a¢£ounts of the Company for the year ended 31 March 2023. Responsibilities and basis of report As the charity's trnstees of the Company (and also its directots for the purposes of company law) you are responsible foi. th¢ preparation of the a¢¢ourtts in a¢eordance with the requirements of the CoThpanies A¢¢ 2006 ('the 2006 Act'l. Havin8 satlsfied myself that thc acttyjnts of the Company are not required ¢0 be audited under Part 16 of the 2006 Aci and are eligible for independent examination. I report in respe¢r of my exsmilon of your charity's accounts a5 carried out undcr section 145 of the Chtrities Act 2011 {'the 201 I ACL.). In caryin" 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 statemeni I have completed my examination. I confirm that no mallers have Come my aoI10n in ¢oThThection with the examination giving me caijse to believe= accounting records were rK)t kept in respect of Canolhn Gymunedol Y$tr[OW¢n Community Centre Ltd as required by section 386 of the 2006 ACL or 2. the accounts do rtoi accord with those records- or 3. the ac¢ounts do noi Comply with the a¢¢ounting requirements of section 396 of the 2006 Aci other than any requiremeni the accounts give a'true and fair view. which is not a matter wn5idered as part of art independenl examination" or 4. the accounts have not been prepar in'accordance with the methods and principles of the Ststement of ecommended Practice for accounting and r¢porting by Charities lapplicable to charities pr¢paiin8 their accounts in accordance with the Financial Reporting Slandard applicable irt the UK and Republic of Ireland (FRS 102)]. I liave w ¢orK¢ms and hav¢ ¢ome across no other matters in connec(ton with the examination to which attention should be drawn in this rcport in order io enable a pmpei understsnding of the accounts to bc reached. Dean Ben12mous FCCA 10 West Street Gorseinon Swansea SA4 4AA l November 2023 Page 6
Cgnolfan Gymunedol Ystradowert Community Centre Ltd Statement of Financial Aetivities for the Year Ended 31 Marth 2023 IIn¢luding Income 2nd Expenditure Aeeount and Statement of Total Reeognised Gains and Losses) Unre5tricttd funds Rtttricted funds Totsl 2023 Note Income and Endowmettts frnm: t)onations and legacies Charitable activities Investrnent income 1,502 81,623 32 1.502 114.258 32 32.635 Total income 83,157 32,635 15,792 Expenditure on". Rai5inir funds Charitable activities {10,381) 94.4471 {10,381) 129,690) (35,243) Total expertdiiure (104.828) 35.243 140.0711 Nei expenditure {2,608) {24,279 Net moverntnt in funds {21.6711 (2.608) {24,279) Reconciliation of funds Total funds brought for¥wdrd 163,815 130 163.945 Total funds carried fonvard 14 142.144 Unrestricted funds 2.478 Resiricied fund$ 139.666 Totil 2022 Note Income and Endowments frorn= Donations and legacies Charitable activities Investment income 1,578 58.344 1,578 104,425 46,081 Toial income 59,924 46,081 106.005 Expenditure on: ChaJitable activities 39.306 (68.106 (107,412) Total expenditure 139J06 68.106 107.412 Nei incomel{expenditure 20.618 (22.025) 11,4071 Net movement in funds 20,618 (22,025) (1.407) Reconciliation of funds Total funds brought forward 143,197 22,155 165.352 Total fijnds carried fon¥ard 14 163.815 130 163.945 All of the charity'5 activitbes derive from (oThtsnuing operations dunng the above tw period5. The ndS breakdown for 2022 is slwwn in note 14. The notes on pages 9 to 19 forn an integral part of these fivancial sts*ments. Page 7
Canolfan Cymunedol Ystradowen Community Centre Ltd (Registration number: 07872629) Balance Shtet as at 31 Mareh 2023 2023 2022 Note Fixed assets Tangible assets Investments 10 59.633 5,000 60,078 5,000 64.633 65,078 Curreni •ssets Debtors Cash at bat)k and in hand 12 4.948 89.097 1,215 100.852 94.045 102,067 Creditors- Amounts flling due within one year 13 119.012) 13,200 Net turrent 75.033 98.867 Nel assets 139.666 163,945 Funds of the th2rity: Restricted income funds Restricted fvnds 14 691 3,310 Unreslricted income fund5 Unrestricted fund5 138.975 160,635 Total funds 14 139,666 163,945 For the fJnan¢Jat year ending 31 March 2023 the charÈty was en¢iLied to ¢xemwion from audit under section 477 of the Companies Aa 2006 relating ¢0 small ¢ompartJes. Directors, Tesponsibililies.. The members have not reqllid the ch8rity ro obtsin an audit of its accounts for the year in question in aCrdanCe with section 476" and Th¢ directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting record5 and the prepardtion of accounts. Tht financial 5tattments on pages 7 to 19 were approved by the trustce5. and authorised for issue on I November 2023 and 5i8ned on thtir behalf by= Mr David Bel er (retired) Chairman and trustee The Th)t¢s on pages 9 19 fom an ingtal partof these financial statements. Page 8
Canolfan Gymunedol Ystradowen Community Centre Ltd Notes to the Financial Statements for the Year Ended 31 Mgrth 2023 I Ch#rity statts$ The charity is limited by guataniee. Incorporated Jn UK. and consequently does not have Sha Capithl. Each of the trustees is liable to contribute an amount J¢ ex¢eeding £Nil toward5 the &8sets of ihe ¢harity in the ¢v¢nt of liquidation. The address of its registered office is= 38 Ntw Road Yslradowen Cam12rthen SA9 2YY These financial statcments were authoris•J ftir issue by the tsijstees on l November 2023. 2 Accounting policles Summary of siuNifIcat *c¢ounting policies and k¢y accounting estim8tes The Principal 8c¢ountirtg policies applied in the preplrdtion of these finan¢ial statements are set out below. These w)licies have been wnsisonily applied to all the years presented. unless otheThvise ststed. Statement of compliance The financial siatements have been prepared in accordance wtth Accounting and Rep)rting by Charities.. Statement of Recommended Practice (applicable to charities preparing their a¢counts in accordaThce with the Financial Reporting Srandard appli¢abl¢ in ihe UK and Republic of Ireland (FRS 102)) {issu¢d in October 2019) {Charities SOIIP (FRS 102)), the Financial Reportin8 Standard applicable in the UK artd Republic of ]land IFRS 102) and the Cotnpanies Act 2006. B8sis of pr¢pAra¢ion Canolfan GyThunedol Ystradowen Communiry Centre Ltd rneets the defjnition of a publi¢ ben¢fJt entity under FRS 102. A5seLS and liabilities are initsolly regniSed at historical cost or trJnsaction value unless otherwise stated in the relevant accountin8 wlicy notes. Going concern The tTUStees consider that there aTe no m•erial nnaiTrtieS alx)ut the charity's ability th continue as a goin8 concern nor any signiflcant areas of uncertainty thar affect the catryin8 value of assets held by the charity. Exemption from preparing * casb flow ststement The chartty opted to early adopt Bulleiin I published on 2 Febwary 2016 and have therefore not included a c&8h flow sthtement in th¢s¢ fLnancial statements. lThcome #nd endowments All income is recognised onct the charity h&$ entitlement to the Incom< il is probable that the income will be Teceived afid the amount of the income r¢uivable can be meaSUd feliably. Page 9
Canolfan Gymunedol Ystradowen Community Centre Ltd Notes to the Financial Statements for the Year Ended 31 March 2023 Deferred income Deferred income represenLS amounts received for future periods and is released to incomhng resources in the period for whi¢h, it has b¢¢n relVe. Such income is otlly deferred when= - The donor spe¢ifie$ that the grant or dc*tation must only be used in fijwrt accountitlB periods" or - The donor imFosed eonditioms which must be met before the charity has unconditional entiilemenL InveslmenÉ incon Dividends are recoJts iised once the dividend has been declared and notification has been re¢eived of the dividend due. Expenditure All expenditure is recottnised once there is a letsal or constructive obligation to that expeDdiiure. li is probable Settlement is required and ihe amouni can be measured reliably. All costs are all(Kated io the applicable expenditure heading that 4gregaie similar costs w thai category. Where costs cannot be direcdy attributed to parti¢ular lieadings they have been allocated on a IMSIS ¢OnSiSL¢ni with the of resources, with ceThtrdl staff costs 211ocaied on the basis of time spenL and depieciation charges allocAted on the portion of the asset's Use. Other support Costs are allocated based on the spread of s¢aff costs. Rai$ingfunds These are costs incutTed in aLtracting voluntary incorn< the management of invesmients and those incurtd in tradtng aciivities ¢hat raJs¢ funds. ChurilublÉ aclivili Charitable expenditure comprises those $ts in¢u]red by the charity in the delivery of its a¢tlVllie5 and seThice5 for its beneficiarics. It include5 both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support thcm. TaxatioTh The charity is Considered to pass the t¢sts set ou¢ io PatagTaph I Schedule 6 of the Finance Act 2010 and therefore it rnccts the dcfinition of a charitable company for UK corp)ration tax purposes. AccoTdingly, the charity is potcThtially exempt from all0 in respect of income OT capital gains reteived wthin ¢aiegories coveied by Chapter 3 Part I l of the CorrA)ration Tax Act 2010 or Section 256 of the T&xation of ChaTgeable Gains Act 1992, to the extent ihat Such income or gThs are applied exclusively to charitable purposes. Tgngible fixed assets Individual fixed Sets c05ting £0.00 or more are initially recorded at cos4 less any subSeqnt accumulated depreciation and subsequeni accumulaied impairn)¢nt losses. Business tombiniiions Business combinations are accounted for under the purch&8e method. Where necessary. adjustsnents are made to the financial statements of subsidiaries to bring the accounting w)licies Used into line with those used by the charity. All inira-8roup transactions, balances, income and ¢xpenses are eliminated on consolidation. In a¢cordan¢e with Se¢iion 35 of FRS 102, Section 19 of FRS 102 has not been applied in these financial statements in respeci of bsinesS combinations effe¢ied priorto the date of transition. Page 10
Canolfan Gymunedol Ystradowen Community Centre Ltd Notes ¢0 the Financial Statements for the Year Ended 31 March 2023 Wixed asset investments Fixed asset investmertls, other than progrdmme related Investmen are includ at market value 3t the bance sheet date. Realised gains and losses 00 investm¢nLS are calculated as the difTeren¢e between sal¢s pweeds and their market value at the 5t&rt of th¢ year. or their sulmquent cost, and are Charged or ¢Tedit¢d to the Statemeni of Finan¢ial AetLVlties in the period of disposal. Unrealised gains 3nd losses represent the movement in rnaTket values durintr the year and are cttdited or charged to the Statrment of Financiaj A1VitieS b&scd on the market value at the year end. Trade debtors Trade debtots are amounts due from CtoMerS for merchandise 501d or servitts performed In th¢ ordinary course of busincss. Trade debtors are reco4Vnlsed initially at the transa¢iion price. They ar¢ subseqllefttly measured at amortised cost using the effeuive interest method, less provision foT impwm¢ni. A provision for the impairnent of tTade debtors is estsblished when there is objective evidcnce that the ¢han"ty will not be Lble to collect all amounts due a¢¢ordiag to the orjginal t¢mis of the receivables. Cash and tash equivalents Cash and ¢ash equivalents comprise on hand and call dep)sits. artd other shon-temi highly liquid investments that are readily ¢onvertible to a knwn amount of cash and are subj¢c¢ ¢0 an insignificant risk of change in value. Borrowings Inierest-bearing borrowings are initially recorded at fair value. net of tran¢bon costs. Interest-bearin8 borrowings are subsequetttly ¢2rried at amortised cost, with the difference between th¢ pio¢eeds, net of trnn5action c05ts. and the artjount due on redtmpiiort being recognised as a charge to the Statement of Firt2rtcial ActivitiC5 over the period of the relevant bonowin& Interest expense is reco¢rnised on the basis of the effeciive inierest method and is included in interest payable and similar char8e5. Botrowings ar¢ Classified as current ljabilities unless the charity IS an unconditional right to defer s¢ttl¢ment of the lJ3bility for at least twelve months after ihe rerA)rtin¢v date. Pagell
Canolfan Gymunedol Ystradowen Community Centre Ltd Notes to the Financial Statements for the Year Ended 31 March 2023 Foreign eychgnge rrdnsactions in foreign currencies are recorded at the rdte of exchange at the date of the trdnsadion. Mothetary ets and liabilities d¢tKminated in for¢i8n ¢urrertcies at the balance sheet date are reported at the rates of exchange prevailing at that dale. The results of overse&% operdtioThs are translated at the avera8e ratts of exchange during the period and their balance sheets at the rates ruling ai the balance 5heei dale. ExchanDe differences arising on translaiion of the openin8 nei &%sets and results of oversw operations are reEM)rted in other comprehensive ir)come and accumlllated in quity (attributed to nort.controlling Lnterests Is appropriate). Other txchange differences art recognised irt the Statement of Financial Attivities in the period In which thry arise except for.. l) exchange differences on trdnsaclions entered into to hedge certain foreign tutneY risks {see above). 21 exchange differ¢rtces arising 00 gains or losses on non-monetary items which are recogThised in other comprehensive inrne" and 3) in the cse of the consolidated financial statements. exchange differer¥ces on monetary i*ms receivable from or payable to a foreign operdtion for which settlernent is neither planned nor likely to ¢xcur (therefore foming part of the ntt invcstmtnl in the foreign operation). which arc recognised in other cornprchen$ive in¢ome and rekx)rted under equity. Fund structure UnTtstTlCted income funds are geneTa] funds tha¢ are available for use at the trustees discretK>n in furtherance of the objectives of the charity- Restricted incorne fund5 are those donated for use in a particular area or for specific purposes, the use of which is restricted to that arta or purpose. Financial instruments Clts$s1faiio Financial &5sets and financtal liabilitie5 are recogni5ed when the charity beeomcs a party to the contrdcttjal Provisians of the instrument. Financial liabilitIes and equity insrrnm¢nts are ¢la5sifi¢d according to the substsnce of the contractual arrangements entered inw. An equity irtstrument is any ¢ontra¢L that eviden¢es a residual interest in the assets of the charity after deductins all of its liabililies. Pa8e 12
Conolfan Gymunedol Y$tradowen Community Centre Ltd Notes to the Financial Statements for tbe Year Ended 31 March 2023 Recogni¢ion and meusurettnl All fjnancial assets and liabilities are initially measured at ¢ransa¢tion pri¢e lincludirtg bSaCrI0n costs). except for those flnancial assets Classified as at fair value through profht or Ios5. which are initially measured at fair value (which is nomally the transaciion price excluding trdnsaciion costs), unless the aTngemen1 constitutes a rinancing iransaction. If an arrartgement constimtes a financing transaction. die financial &sset or flnancial liibility is measured at the presen¢ vlue of the fullJr¢ payments dis¢ounted at a market r of interest for a similar debt jnstNment. Finart¢ial assets and liabilities only offset in the siatemenl of financial p051tion when. and only when thcre exists a legally enforceablc right to sei off the recognised amounts and the charity intends eithtr lo settle on a nei basis. or to realise the asset and settle the liability simultaneously. Financial assets are dereco8ni5ed when and only when a) the ¢ontracwai righrs to the cash f]ows from the financial et expire or are settled, b) the charity transftrs to another paTty substaniially all of the risks and rewards of ownership of the fjrtancial assel or c) the charity. despite having retained some. but not all, significant risks attd rewards of ownership. has transferred cotltrol of the Isset to anoiher party. Financial liabilities are derecognised only when the obligation specified Jn the ¢ontr8ct is dis¢h8rg¢d, ¢an¢ell¢d or expires. Page 13
Canolfan Gyrnunedol Ystradowen Community Centre Ltd Notes to the Financial Statements for the Year Ended 31 March 2023 Debiinsir4mènts Debt instwments which meet the following condiiions subsequently me&sured at amortised cost using the effective interest method.. {a) The contracttjal return to the holder s (i) a fixed amounL (li) a positive fixed ratr or a positive variable rate; or (iiil a combination of a positive or a ncgative fixed Trte and a wsitivc variable tate_ {bl The contraci may provide for repayments of the principal or the ttIM to the holder Ibui not both) to be linked to a single levant observable index of general piice iofl•ion of the currency in whi¢h the debt jnstrurnent is dellominated. provided such links are not leveraged. (c) Thc contract may provide for a detenninablc variation of the return to the holder during the life of the instrument. provided that {il the new rdte satisfies condiiion (a) and the variation is no¢ continoent on filture events other than (l ) a change of a contractual variablt rate. {2) to protect the holder against credit deterioraiion of the issuer, {31 ¢hanges in levies applied by a ¢¢ntral book or arising from chan8es in relevant taxation or law.. or {ii) the new tate is a markd ra of interest and satisfies ¢ondi¢iorJ (al. Id) ThcTe is no contractual wovision that ayjld. by its tenn& result in the holder losing th¢ prin¢ipal amount or any interest attributable to the Current peri(Ml or prior period5. le) Contractual provisions tha( Fmiit ihe issuer to prepay a debi instnjment or pern)it the holder to put li back ro the i5sueT before maturity art not contingtnt on futyre tvents, other than to proteci the holder against the credit deterioration of ihe issuer or a chan8e in control of the issuer, or to prnttct the holder or issuer against changes in levies applied by a central bank or arising fmm ¢h8nges In levant taXatn or law. (fj Contra¢tsJal provisions may pemif the exiensiort of the Lemi of the debt insrrumen4 provided that the retum to the holder and any othe* ¢ontra¢tyal provisions applicable durin8 the extended term satisfy the condition5 of paragraphs {al to {cl. tkbt insttuments that ue classified &8 payable or receivable within one year on initial recognition and which eet the above conditions are mcasurcd at the undiscounted amouni of the cash or other consideration expected to be paid or received. net of impairmeTht. With the exception of some hedging instrumcnts. other debt instruments not meeting these conditions are Mered at fair value through profit or Ios5. Commitments to mak¢ ot)d re¢eive loans 1¢h meet the ndItionS mentioned above are measured at tost {which tnay be nil) less ImpaiTmen¢. rtvesittjents Invcstrnents in I-cOnvertIble preference shares and non-puttablt ordinary or preference shares {where shares are publicly traded or their fair value is rtliably measutablel are measured at fair value thTtsugh profit or loss. Whei"e fair value cannot be measured rtliably. investments are measured at cost less imrMent. Investments in subsidiaries and asso¢iates are measured at wst less impairnienL For tnvestmtnts in subsidiaries acquired for consideration including the i5SUt of shares qualifyrng for merger relief. cost is measured by reference to the nominal Yalue of the shart5 issued plu5 fair wdlue of other considcrdtion. Any premium is ignored. Page 14
Canolfan Gymunedol Ystradowen Community Centre Ltd Notes to the Finaneial Statements for the Year Ended 31 March 2023 Deriv4¢ivefinan¢ithl in51rUnllts The charity uses derivative fithan¢ial instnjments io reduce exrKJsure to forei eXChBe risk and in¢erest rate Movements. The charity d<)es not hold OT issue derivative firtancial Instnjments for speculative purposes. Derivatives ?Te initially recognised at fair value at the date a derivative contract 15 entered into and are subsequenily reMSUred io (heir fair Wdlue at each rewrting date. Th¢ resuliing gain (pr loss is recognised in statctnent of finan¢ial a¢iiviÉi¢s immediately unless the derivative is desjgnated effe¢iive as a hedging instrument. irt whi¢h everti the liming of the recognition irt statement of financial activities depends on the naturc of the hedge relatkon5hip. Fair valut meosuieme The best evidence of fair value is a qttoied price for an Identical asset in an active market. When qUed prices are unavailable, th¢ PTi¢e of a recent iransaction for an Identical et provide5 evidence of faiT value as long as there h&8 not been a sigrtifi¢ant thange in eeonomie circLtmstance5 or a si4¥nificant lapse of time since the transatiion took place. If the matket IS IIOL active and recent transaciions of an identical asset on their own are not a good estirnate of faiT value. the fwr valve is estimatrd by using a valuation technique. 3 Income from donA¢ions 4nd leg¥ci Unr¢siri¢ted funds General Tot&1 2023 Regular giving and capital donations 1.502 1,502 1.5U2 Vnrestricted funds General Total 2022 Regular giving and Capi donation5 1,578 1,578 1.578 I,S78 4 Income from Chgritable activities Urkresiricted funds Gentral Resiriettyj fund5 Total funds Minibus Lunch club Communjry ¢entre Other income 24,577 31.154 25,173 720 2.000 26.577 31.154 55,808 720 30,635 Total for 2023 81,624 32,635 114,259 Total for 2022 58.344 46,081 104,425 Page IS
Canoifan Gymunedol Ystradowen Community CeDtre Ltd Notes to the Financial Statements for the Year Ended 31 M2reh 2023 S Investrnent income Unrestricted fund$ Gener¥1 Tot•1 202J Intere# receivable artd similar in¢ome- InRr¢st re¢eivable on bathk deposi 32 32 32 32 Unrestricted funds Gener¥1 Total 2022 Interest receivable and similar Income- Interest r¢c¢ivable on l)ank deposits 6 Expenditure on charitable actsvities Untestridtd funds Gen¢r•l R¢5trict¢d Total funds Minibus Commwiity centre 1,849 75,471 2,103 40,267 13.952 115.738 Totsl for 2023 87.320 42,370 129.690 Total for 2022 42.486 64.926 107,412 Artity undertaktn dire¢dy Tothl expenditure Minibus Community centre 13.952 15,738 13,952 115.738 Total for 2023 129.690 129.690 Total for 21J22 107.412 107,412 Page 16
Canolfan Cymunedol Ystradowen Community Centre Ltd Notes to the Financial Statements for the Year Ended 31 March 2023 7 Nel incominoJoutgoing ruourfe5 Nel outgoin8 resources for the year Jn¢lude'. 2023 2022 Depreciation of fixed sets 7.987 7.469 8 Trusttts remutteration and expense5 No trustees. nor any persons c(Nbnected with them, have received any remuneration from the charity during the year. No tTUStees have rcccived any reimbutsed expenses or any other benefits from the clwity durirtg the year. 9 Taxation The charity is a registered charity and is therefore exempt fwom thxatiort. 10 Tattgible fixed Land and buildings Furniture #nd equipment MotOT vehicles ToÉl C05t At l April 2022 Additions 89,491 20,531 6.542 50,974 1.000 160,996 7,542 At 31 March 2023 89.491 27,073 51,974 168,538 Depreci2tlOD At l April 2Q22 Ch'ge f(Y the year 43.607 2.554 17J27 2,436 39,984 2,997 100,918 7.987 At 31 March 2023 46.161 19,763 42,981 108,905 Net book vlut At 31 March 2023 43,330 7,310 8.993 59.633 11 Fixed asset investments 2023 2022 Shares in group undertakings and participating interests 5,000 5.¢)00 12 Debto Page 17
Canolfan Gymunedol Ystr2dowen Community Centre Ltd Notes to the Financial Statements for the Year Ended 31 Mar¢h 2023 2023 2022 Prepaymcnts Other debtors 4.948 4948 13 Crediiors: #mounts falling dut witbin one year 21123 2022 Accruals Deferred income 1,400 17.612 1,200 2.000 19.012 3,200 14 Fund$ Balance gt 31 March 2023 Balanc¢ #i April 2022 Intomirtg rtsourt Resources ¢xpended Transfers Unrestritted funds Gtneral Unrestri¢ttd funds 163.815 83.157 (97,701) (10.296) 138,975 Restritted funds Restricted funds 130 32.635 (42.370) 10,296 691 Total funds 163.945 115.792 (140.071) 139,666 Balance at 31 March 2022 Balante at I April 2021 Ineoming resources Resources expended TraS[¢r9 Unrestricted funds GeAer&l Unresrricted fund5 153,350 59,924 (42.486) (10,1531 160.635 Restricted Rcstricted funds 12.002 46.081 (64.926) 10,153 3.310 Total furtds 165,352 107,412 163,945 Page 18
Canolfan Gymunedol Ystradowen Community Centre Ltd Notes to the Finaneial Statements for the Year Ended 31 March 2023 IS Analysis of net assets bt¢ween fund$ Unrestrieted funds General Tot¥1 funds at 31 March 2023 Re5trict¢d fuThds Tangible fixed assets Fixed asset investments Current assets CutTent liabilities 59.633 5.000 40.090 {1,400) 59.633 5,000 94,045 {19.012 53,955 {17.612) Total net assct5 103.323 36.343 139.666 Unrestrittrd rlld5 GeneT¥I Total funds at 31 msh 2022 Restri¢ioAI fuDd$ Tangible fixed assets Fixed asset investsnents Current assets CutTent liabilities 60.078 5,000 98.757 {3.200) 60.078 5,000 102,067 {3,200) 3.310 Total ne¢ assets 160.635 3,310 163 945 16 An4lysis of net fun¢ts At l April 2022 Finincing CAsh flows At 31 March 2023 Casli at bank and in hand 100.852 11.755 89,097 Net debt 100,852 At l April 2021 11.755) Changes t n)arket value 89,097 Ai 31 March 2022 Cash at bank and in hand 94.819 6.033 100,852 Net debt 94.819 6,033 100,852 Page 19
Canolfan Gymunedol Ystrndowen Community Centre Ltd Detailed Statement of Financigl Activities for the Year Ended 31 Marth 2023 Total 2023 Tot81 2022 Intome 2nd Endowments from". Don8tions and legacies lanalysed below) Charitable activities lanaly5cd below) Investment income (analysed below) 1,502 14.258 32 1.578 104.425 Tothl income 115.792 106.005 Exp¢ndilure on- Raisin(t fidS (analysed below) Charitable activities (analysed below) (10,381) 129.690 107.412 Totsl expenditure (140,0711 (107.4121 Nei expendirure {24,279 1,407 Net movement in ndS {24,279) (1,4071 Recon¢ilig¢ion of funds Tual thrtds brought fon¥ard 163,945 165.i52 Total funds carried forward 139.666 163.945 This page does not fonn part of the Ststsjtory financial statements. Page 20
Canolfan Gymunedol Ystradowen Community Cetttre Ltd Detailed Statement of Financial Activiti&s for the YeAr Ended 31 March 2023 Total 2023 T4btsl 2022 Donaiiotts 4Adlego¢ies Committed giving ,502 1,502 1,578 1,578 ClwriioNe aaiviiies Minibus income Lunch Income Grants Income- Minibus project Grant in¢ome Club Bach Other income 24,577 31.154 2.000 30,6iS 5,197 20.695 7.180 32,179 46,081 3,564 15.421 114,258 104,425 Inve51menl income Interest on cash dep)sits 32 32 Raisirtgfts#ds Purchases - restricted Purch&%es (1.9691 (8.4121 (10,3811 Chari14ble &diviii Wages and salaries- restricted Wages and salaric5 Staff pension5- restricted Stsff pensions Rertt and rates- restricted Rertt and Tates LtghL heat and Fower- restricted Li8ht, heat and pJweT Insurdnce Repairs and renewals- restricted Repairs and renewals General maTnienance General maintenance Telephone and fax Office expens¢s otYi¢e expenses Printin& postage and stationery- restricted Prinun& postage and station¢ry (17,757) (57,829) (46,6511 17.814) (1.055) (378) (362} (262) (6,121) (2.730) (J,176) (6.1561 (5 16) {6,162) (2,9701 (6.9561 (103) (397) (5361 (1861 (2681 (551) {1,225) {913) {473) This page does noi fomi part of the siatutory financial statements. Pag¢21
Canolfan Gymunedol Ystradowen Community Centre Ltd Detailed Statement of Financial Activities for the Year Ended 31 March 2023 Totsl 2023 Total 2022 Tradc Subscriptions Charitable donati¢)ns Cleaning Cleaning Motor expenses- restricted Motor expenses Caterirtg- restricled Catering Accountsnw fees Accountancy fees Depreciation of freehold prnperty Depreciation of short Iwehold property Depreciation of fixtures and fittings Depreciation of moior ¥ehi¢les (744) (555) (226) (780) (506) (2.103) (8.852) {4.059) {4,447) {8.5S2) (2.0?0} (9.842) (1,900) {1.970) (1.0001 (1,5541 (2,4361 (2.997} {129.690) (1,000) (2.073) 1732) 3.664) 1107.412 This page does form part of the financial stsrements. Page 22