| Page | ||||
|---|---|---|---|---|
| Report ofthe | Trustees | 1 | to | 8 |
| Report ofthe | Independent Auditors |
9 | to | 11 |
| Consolidated | Statement of Financial Activities | |||
| Consolidated | and Charity Balance Sheet | |||
| Consolidated | Cash Flow Statement | 14 | ||
| Notes to the | Financial Statements | 15 | to | 27 |
| 1148990 | 1148990 | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Registered | office | ||||||||
| Central Union Office |
|||||||||
| Cardiff Metropolitan | University | ||||||||
| Cyncoed | Campus, | Cyncoed Road | |||||||
| CARDIFF | |||||||||
| CF23 6XD | |||||||||
| Trustees | |||||||||
| W Fuller VGonavaram |
Chief Executive President from |
Officer from 01/07/2022 01/08/2021 to 31/07/2023 |
Appointed 01/07/2022 Resigned 31/07/2023 |
||||||
| N Roach | President | from | 01/08/2023; Vice President | from | Appointed | 01/08/2022 | |||
| 01/08/2022 | |||||||||
| A Milburn | |||||||||
| N Wrigley | Vice President | until 31/07/2022 | Resigned 31/07/2022 | ||||||
| N Evans | Appointed | 01/09/2022; | Resigned | ||||||
| 30/06/2023; Appointed |
|||||||||
| 19/09/2023 | |||||||||
| G Cayley | Appointed | 01/09/2022; | Resigned | ||||||
| 30/06/2023 | |||||||||
| M Partington | Appointed | 01/09/2022; | Resigned | ||||||
| 30/06/2023 | |||||||||
| C Burrage | Appointed | 01/09/2022; | Resigned | ||||||
| 14/11/2022 | |||||||||
| E Drake | Appointed | 01/09/2022; | Resigned | ||||||
| 30/06/2023 | |||||||||
| H Mirfin | Appointed | 01/09/2022; | Resigned | ||||||
| 30/06/2023 | |||||||||
| EBoLeung | Appointed | 20/10/2023; | Resigned | ||||||
| 30/06/2023 | |||||||||
| R Viswanathan | Vice President | from 01/07/2023 | Appointed | 01/07/2023 | |||||
| BBunce | Appointed | 26/09/2023 | |||||||
| BMcSpadden | Appointed | 19/09/2023 | |||||||
| ESeal | Appointed | 19/09/2023 | |||||||
| D Evans-Hughes | Appointed | 19/09/2023 | |||||||
| F Flynn | Appointed | 19/09/2023 | |||||||
| Company | secretary | ||||||||
| SBradley | |||||||||
| Auditors | |||||||||
| MHA | |||||||||
| Statutory | Auditor | ||||||||
| Elfed House | |||||||||
| Oak Tree | Court | ||||||||
| CARDIFF | |||||||||
| CF23 BRS |
| 2023 | 2022 | |||||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||||
| fund | funds | funds | Funds | |||||
| Notes | ||||||||
| INCOME AND ENDOWMENTS | FROM | |||||||
| Donations and legacies |
886,568 | 69,186 | 955,754 | 968,429 | ||||
| Charitable activities |
||||||||
| Provision of recreational | and leisure facilities | 538,594 | 538,594 | 522,549 | ||||
| Provision ofsocial activities | 463,794 | 463,794 | 364,770 | |||||
| Other trading activities |
103,873 | 19,539 | 123,412 | 99,862 | ||||
| Investment income |
2,184 | 2,184 | 68 | |||||
| Other income | 91 | 91 | 1 916 | |||||
| Total | 1,995,104 | 88,725 | 2,083,829 | 1,957,594 | ||||
| EXPENDITURE ON | ||||||||
| Raising funds | 4,578 | 4,578 | 2,401 | |||||
| Charitable activities |
||||||||
| Provision of recreational | and leisure facilities | 935,714 | 67,039 | 1,002,753 | 888,297 | |||
| Provision ofsupport services | 361,376 | 5,318 | 366,694 | 372,342 | ||||
| Provision ofsocial activities | 694,157 | 6,600 | 700,757 | 665 123 | ||||
| Total | 1,995,825 | 78,957 | 2,074,782 | 1,948,163 | ||||
| NET INCOME | (721) | 9,768 | 9,047 | 9,431 | ||||
| Transfer between funds |
15,086 | (15,086) | ||||||
| Unwinding ofdiscounted |
pension | provision | (37,081) | (37,081) | (25,127) | |||
| Net incomel(expenditure) | for the year | (22,716) | (5,318) | (28,034) | (15,696) | |||
| RECONCILIATION OF FUNDS |
||||||||
| Total funds brought forward |
(113,319) | 9,047 | (104,272) | (88,576) | ||||
| TOTAL FUNDS CARRIED | FORWARD | ~136.035) | 3,729 | ~132,306) | ~104272) |
| Group | Charity | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Notes | 2023 f |
2022 | 2023 | 2022 | |||||
| FIXEDASSETS | |||||||||
| Tangible assets | 15 | 52,147 | 45,496 | 52,147 | 45,496 | ||||
| Investments | 16 | 4 | 4 | ||||||
| 52,147 | 45,496 | 52,151 | 45,500 | ||||||
| CURRENT ASSETS | |||||||||
| Stocks | 17 | 20,834 | 20,267 | 20,834 | 20,267 | ||||
| Debtors: amounts | falling due within | one year | 18 | 33,863 | 60,977 | 38,811 | 75,690 | ||
| Cash at bank | 432,839 | 532 939 | 343,607 | 437 264 | |||||
| 487,536 | 614,183 | 403,252 | 533,221 | ||||||
| CREDITORS | |||||||||
| Amounts falling due within one year |
19 | (167,066) | (259,197) | (159,613) | (250,918) | ||||
| NET CURRENT ASSETS | 320470 | 354,986 | 243,639 | 282,303 | |||||
| TOTAL ASSETS LESSCURRENT | LIABILITIES | 372,617 | 400,482 | 295,790 | 327,803 | ||||
| PENSION LIABILITY | (504,923) | (504,754) | (504,923) | (504,754) | |||||
| NET ASSETS/(LIABILITIES) | (1~32306 | ~104,272 | (2~09 133 | (176,951) | |||||
| FUNDS | 21 | ||||||||
| Unrestricted funds: |
|||||||||
| General fund and designated Pension reserve |
funds | 368,888 ~504 923 |
391,435 ~504?54 |
292,061 ~504 923 |
318,756 ~504 754 |
||||
| (136,035) | (113,319) | (212,862) | (185,998) | ||||||
| Restricted funds | 3,729 | 9,047 | 3,729 | 9047 | |||||
| TOTAL FUNDS | (~132,306 | 104,272 | (2~D9 133 | (176.951) |
| 2023 | 2023 | 2022 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Notes | f | F | ||||||||
| Cash flows from operating | activities: | |||||||||
| Cash generated from operations |
~75 | 772) | ~76619) | |||||||
| Net cash provided by (used in) operating |
||||||||||
| activities | ~75.772) | ~76.619) | ||||||||
| Cash flows from investing | activities: | |||||||||
| Purchase oftangible fixed assets |
(26,512) | (21,937) | ||||||||
| Sale of | tangible fixed assets |
|||||||||
| Interest | received | 2,184 | 68 | |||||||
| Net cash provided by (used in) investing |
||||||||||
| activities | ~24,328) | ~21,869) | ||||||||
| Change | in cash and cash | equivalents | in the | |||||||
| reporting period |
(100,100) | (98,488) | ||||||||
| Cash and cash equivalents at the |
beginning | of | ||||||||
| the reporting period |
532,939 | 631,427 | ||||||||
| Cash and cash equivalents at the |
end | ofthe | ||||||||
| reporting period |
432,839 | 532,939 | ||||||||
| RECONCILIATION | OF NET INCOME/(EXPENDITURE) | TO NET CASH FLOW FROM | OPERATING | ACTIVITIES | ||||||
| 2023 | 2022 | |||||||||
| Net income/(expenditure) | for the reporting | period (as | per the statement | |||||||
| offinancial activities) | 9,047 | 9,431 | ||||||||
| Adjustments for: |
||||||||||
| Depreciation charges |
19,861 | 16,411 | ||||||||
| Profit on disposal offixed assets | ||||||||||
| Interest received | (2,184) | (68) | ||||||||
| Decrease/(increase) | in stocks | (567) | (11,764) | |||||||
| Decrease/(increase) | in debtors | 27,114 | 13,615 | |||||||
| Increase/(decrease) | in creditors | (92,131) | (69,447) | |||||||
| Difference between | pension | charge and | cash contributions | ~36,912) | ~34,797) | |||||
| Net cash provided | by (used in) | operating | activities | ~75,772) | ~76,619) | |||||
| ANALYSIS OF CHANGES | IN NET FUNDS | |||||||||
| At 1/7/22 | Cash flow | At 30/6/23 | ||||||||
| F | E | |||||||||
| Net cash | ||||||||||
| Cash at bank and | in hand | 532 939 | 100,100 | 432,839 | ||||||
| 532,939 | 100,100 | 432,839 | ||||||||
| Total |
| 2023 | 2022 | |||||
|---|---|---|---|---|---|---|
| F | ||||||
| Fundraising income |
1,119 | 1,243 | ||||
| Trading income - |
subsidiary | 92,264 | 90,594 | |||
| Sponsors hips |
18,420 | 4,500 | ||||
| Minibus and car hire recharge |
5,877 | 3,494 | ||||
| Other income | 31 | |||||
| Room hire income | 5,732 | |||||
| 123,412 | 99862 | |||||
| INVESTMENT INCOME | ||||||
| 2023 | 2022f | |||||
| Deposit account interest | 2,184 | 68 | ||||
| INCOME FROM CHARITABLE | ACTIVITIES | |||||
| 2023 | 2022 | |||||
| Activity | ||||||
| SU Sport income | Provision | of recreational | and leisure facilities | 129,942 | 115,174 | |
| Clubs 8 Societies | income | Provision | of recreational | and leisure facilities | 408,652 | 407,375 |
| Shop income | Provision | ofsocial activities | 136,419 | 60,744 | ||
| Bar income | Provision | ofsocial activities | 152,186 | 117,084 | ||
| Catering income |
Provision | ofsocial activities | 151,660 | 152,472 | ||
| Amusements income |
Provision | ofsocial activities | 991 | 4,209 | ||
| ENTS department | income | Provision | ofsocial activities | 22,538 | 30,261 | |
| 1,002,388 | 887,319 |
| Support | |||||||
|---|---|---|---|---|---|---|---|
| Direct | costs (see | ||||||
| Costs | note 10) | Totals | |||||
| F | |||||||
| Provision ofrecreational and leisure facilities Provision ofsupport services |
860,705 224,851 |
142,048 141,843 |
1,002,753 366,694 |
||||
| Provision ofsocial activities | 581,795 | 118962 | 700,757 | ||||
| 1,66?.351 | 402,853 | 2.070204 | |||||
| SUPPORT | COSTS | ||||||
| Staff | Governance | ||||||
| costs | Other | Depreciation | costs | Totals | |||
| Provision | of recreational | ||||||
| and leisure facilities | 80,508 | 52,744 | 2,681 | 6,115 | 142,048 | ||
| Provision | ofsupport | ||||||
| services | 65,443 | 68,405 | 2,437 | 5,558 | 141,843 | ||
| Provision | ofsocial activities | 89,262 | 18,839 | 3,006 | 7 855 | 118962 | |
| 235,213 | 139,988 | 8 124 | 19,528 | 402 853 |
| 2023 | 2022 | ||
|---|---|---|---|
| F. | |||
| Auditors' | remuneration | 7,158 | 7,982 |
| Depreciation - owned assets | 19,861 | 16,411 |
| 2023 | 2022 | |
|---|---|---|
| Name | F | |
| V Gonavaram | 20,368 | 17,335 |
| N Wrigley | 1,608 | 17,690 |
| K Davies | 1,608 | |
| M Pavuluri | 1,576 | |
| N Roach | 18,959 |
| STAFF COSTS | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 2023 f |
2022 F |
|||||||||
| Wages and salaries | 902,652 | 900,027 | ||||||||
| Social security costs | 57,292 | 48,596 | ||||||||
| Pension costs | 24,062 | 16,092 | ||||||||
| 984,006 | 964715 | |||||||||
| The average number ofemployees during the year was |
as follows: | |||||||||
| 2023 | 2022 | |||||||||
| Average number ofmonthly |
employees | 37 | 35 | |||||||
| Average number of fortnightly |
employees | 75 | 59 | |||||||
| 112 | 94 | |||||||||
| During the year ended 30June 2023 the full-time | equivalent number |
ofstaff employed | was 62 (2022: | 54). | ||||||
| The number ofemployees whose emoluments | amounted | to a rate of | over F60,000 | during the year were | as follows: | |||||
| 2023 | 2022 | |||||||||
| No. | No. | |||||||||
| F60,001 - F70,000 | 1 | 1 | ||||||||
| F80,001 - F90,000 | 1 | |||||||||
| Pension contributions | F6,500 | F12,218 | ||||||||
| Total remuneration paid to key management |
personnel | in the year was F189,596(2022:2252,540). | ||||||||
| COMPARATIVES FOR THE STATEMENT OF |
FINANCIAL ACTIVITIES —YEAR | END | 30JUNE 2022 | |||||||
| 2022 | 2022 | 2022 | ||||||||
| Unrestricted | Restricted | Total | ||||||||
| funds | funds | funds | ||||||||
| F | F | |||||||||
| INCOME AND ENDOWMENTS FROM |
||||||||||
| Donations and legacies |
958,429 | 10,000 | 968,429 | |||||||
| Charitable activities |
||||||||||
| Provision of recreational and |
leisure facilities | |||||||||
| 522,549 | 522,549 | |||||||||
| Provision ofsocial activities | 364,770 | 364,770 | ||||||||
| Other trading activities |
94,119 | 5,743 | 99,862 | |||||||
| Investment income |
68 | 68 | ||||||||
| Other income | 1 916 | 1 916 | ||||||||
| Total | 1,941,851 | 15,743 | 1,957,594 |
| . | COMPARATIVES FOR | THE STA | TEMENT OF FINANCIAL | ACTIVITIES -continue | d | |
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | ||||
| funds | funds | funds | ||||
| EXPENDITURE ON | ||||||
| Raising funds Charitable activities |
2,401 | 2,401 | ||||
| Provision ofrecreational and leisure facilities Provision ofsupport services Provision ofsocial activities |
882,554 371,389 685,123 |
5,743 953 |
888,297 372,342 685,123 |
|||
| Total | 1,941,46? | 6,696 | 1,948,163 | |||
| NET INCOME | 384 | 9,047 | 9,431 | |||
| Other recognised gainsl(losses) |
||||||
| Unwinding ofdiscounted |
pension | provision | ~25 127) | ~25,127) | ||
| Net movement in funds |
(24,743) | 9,047 | (15,696) | |||
| RECONCILIATION OF FUNDS |
||||||
| Total funds brought forward | (88,576) | (88,576) | ||||
| TOTAL FUNDS CARRIED FORWARD | ~113,319) | 9,047 | ~104,272) | |||
| 15. | TANGIBLE FIXEDASSETS- | Group and Charity | ||||
| Bars 8 | Office | |||||
| Sports | Shops | fixtures | ||||
| Equipment | fittings | &fittings | ||||
| COST | E | |||||
| At 1 July 2022 Additions |
775 | 300,431 15,686 |
13,818 | |||
| At 30June 2023 | 775 | 316,117 | 13,818 | |||
| DEPRECIATION | ||||||
| At 1 July 2022 Charge for year |
113 194 |
274,703 11737 |
12,311 619 |
|||
| At 30June 2023 | 307 | 286,440 | 12,930 | |||
| NET BOOK VALUE | ||||||
| At 30June 2023 | 468 | 29,677 | 888 | |||
| At 30June 2022 | 662 | 25 726 | 1,507 |
| TANGIBLE FIXEDASSETS —Group and Charity | TANGIBLE FIXEDASSETS —Group and Charity | -continued | ||||
|---|---|---|---|---|---|---|
| Motor | Computer | |||||
| vehicles | equipment | Totals | ||||
| F | F | |||||
| COST | ||||||
| At 1 July 2022 | 26,699 | 22,135 | 363,858 | |||
| Additions | 10,826 | 26 | 512 | |||
| At 30June 2023 | 26 699 | 32,961 | 390370 | |||
| DEPRECIATION | ||||||
| At 1 July 2022 | 13,262 | 17,973 | 318,362 | |||
| Charge for year | 3,750 | 3,561 | 19,861 | |||
| At 30June 2023 | 17,012 | 21,534 | 338223 | |||
| NET BOOK VALUE | ||||||
| At 30June 2023 | 9,687 | 11,427 | 52 | 147 | ||
| At 30June 2022 | 13,437 | 4 162 | 45 | 496 | ||
| FIXEDASSET INVESTMENTS - Charity | ||||||
| Shares | in | |||||
| group | ||||||
| undertakings | ||||||
| MARKET VALUE | ||||||
| At 1 July 2022 and 30June 2023 | ||||||
| NET BOOK VALUE | ||||||
| At 30June 2023 | 4 | |||||
| At 30June 2022 | 4 | |||||
| There were no investment | assets outside the UK. |
| 17. | STOCKS | ||||||
|---|---|---|---|---|---|---|---|
| 2023 | 2022 | ||||||
| F | F | ||||||
| Stocks | 20 834 | 20267 | |||||
| 18. | DEBTORS:AMOUNTS | FALLING DUE WITHIN ONE YEAR | |||||
| Group | Group | Charity | Charity | ||||
| 2023 | 2022 | 2023 | 2022 | ||||
| F | F | F | F | ||||
| Trade debtors | 18,373 | 30,844 | 1,873 | 25,552 | |||
| Other debtors | 987 | 987 | |||||
| Amount due from group | undertakings | 21,448 | 20,005 | ||||
| Prepayments | and accrued income | 14,503 | 30 133 | 14503 | 30 133 | ||
| 33,863 | 60,977 | 38,811 | 75,690 |
| Group | Group | Charity | Charity | ||
|---|---|---|---|---|---|
| 2023 | 2022 | 2023 | 2022 | ||
| F | |||||
| Trade creditors | 15,445 | 51,341 | 15,445 | 51,341 | |
| Social security and other taxes | 15,070 | 39,085 | 15,070 | 39,085 | |
| VAT | 8,830 | 9,624 | 5,977 | 7,687 | |
| Other creditors | 42,763 | 42,533 | 42,763 | 36,191 | |
| Accruals and deferred | income | 84,958 | 116,614 | 80,358 | 116614 |
| 167,066 | 259 197 | 159,613 | 25D 918 |
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| F | |||||
| Private | hire bookings | 3,742 | 2,304 | ||
| Other | advance | income | 32,002 | 20,002 | |
| Castell | Howell | funding | 14,286 | 21,429 | |
| Welsh | Government Winter Wellbeing |
grant | 5,760 | 38,434 | |
| 55.79D | 82,169 |
| Minimum lease payments under non-cancellable operating |
leases fall due as follows: | |
|---|---|---|
| 2023 | 2022 | |
| F | ||
| Within one year | 21,988 | 26,863 |
| Between one and five years | 31 116 | 41,184 |
| 53,104 | 68,047 |
| MOVEMENT IN FUNDS |
|||||||
|---|---|---|---|---|---|---|---|
| Net | Transfers | ||||||
| movement | between | At | |||||
| At 1/7/22 F |
in funds F |
funds f |
30/6/23 F |
||||
| Unrestricted funds |
|||||||
| General fund |
181,079 | 39,601 | (21,826) | 198,854 | |||
| Pension reserve | (504,754) | (37,081) | 36,912 | (504,923) | |||
| Designated fund: Women's |
football club | 24,795 | 5,720 | 30,515 | |||
| Designated fund: Men's football |
dub | 185,561 | ~46.042) | 139,519 | |||
| (113,319) | (37,802) | 15,086 | (136,035) | ||||
| Restricted funds | |||||||
| Changing the culture —Funding |
for Interns | 9,047 | (5,318) | 3,729 | |||
| Centro —new equipment | 15,086 | (15,086) | |||||
| TOTAL FUNDS | ~104272) | ~2S,034) | ~132,306) | ||||
| Net movement in funds, induded |
in the above are as follows: | ||||||
| Incoming | Resources | Gains and | Movement | ||||
| resources | expended | losses | in funds | ||||
| F | F | ||||||
| Unrestricted funds |
|||||||
| General fund |
1,698,149 | (1,658,548) | 39,601 | ||||
| Pension reserve | (37,081) | (37,081) | |||||
| Designated fund: Women's football club Designated fund: Men's football club |
26,702 270 253 |
(20,982) ~316.295) |
5,720 ~46,042) |
||||
| 1,995,104 | 1,995,825 | (37,081) | (37,802) | ||||
| Restricted funds | |||||||
| Clubs and societies | 19,539 | (19,539) | |||||
| Changing the culture —Funding |
for Interns | (5,318) | (5,318) | ||||
| Cost of living staff payments | 27,500 | (27,500) | |||||
| Governance review |
20,000 | (20,000) | |||||
| Period dignity fund |
6,600 | (6,600) | |||||
| Centro —new equipment | 15,086 | 15,086 | |||||
| 88,725 | 78,957 | 9,768 | |||||
| TOTAL FUNDS | 2,083829 | ~2074 782) | ~37081) | ~28 034) | |||
| Comparatives for movement |
in funds | ||||||
| Net | Transfers | ||||||
| movement | between | At | |||||
| At 1/7/21 | in funds | funds | 30/6/22 | ||||
| F | F | F | |||||
| Unrestricted funds |
|||||||
| General fund |
187,396 | 28,480 | (34,797) | 181,079 | |||
| Pension reserve | (514,424) | (25,127) | 34,797 | (504,754) | |||
| Designated fund: Women's |
football club | 7,914 | 16,881 | 24,795 | |||
| Designated fund: Men's football |
club | 230,538 | ~44.977) | 185,561 | |||
| (88,576) | (24,743) | (113,319) | |||||
| Restricted funds | |||||||
| Changing the culture —Funding |
for interns | 9,047 | 9,047 | ||||
| TOTAL FUNDS | ~88 576) | 15696 |
| ANALY | SIS OF GROUP NET ASSETS BETWEEN | FUNDS | |||
|---|---|---|---|---|---|
| Restricted | Unrestricted | ||||
| funds | funds | Total | |||
| F | |||||
| Fund balances at 30June 2023 are represented | by: | ||||
| Tangible | lixed assets | 52,147 | 52,147 | ||
| Current | assets | 3,729 | 483,807 | 487,536 | |
| Current | liabilities | (167,066) | (167,066) | ||
| Pension | liability | ~504,923 | (~504.923 | ||
| Total net assets/(liabilities) | 3,729 | ~136,035 | ~132,306 |
| A summary of |
the | results ofthe subsidiary for the year is shown below: |
|
|---|---|---|---|
| P | |||
| Turnover | 92,264 | ||
| Cost ofsales | (888) | ||
| Gross profit | 91,376 | ||
| Administrative | expenses | (15,854) | |
| 75,522 | |||
| Other operating | income | ||
| 75,522 | |||
| Interest receivable | and similar income | 537 | |
| PROFIT ON ORDINARY ACTIVITIES BEFORETAXATION | 76,059 | ||
| Taxation | |||
| PROFIT FOR | THE FINANCIAL YEAR | 76,066 | |
| The aggregate | ofthe assets, liabilities and funds was: | ||
| Assets | 105,732 | ||
| Liabilities | (28,901) | ||
| Funds | 76631 |