REGISTERED COMPANY NUMBER: 07694161 (England and Wales) REGISTERED CHARITY NUMBER: 1149421
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2021
FOR
FELINFOEL EXECUTIVE COMMITTEE LTD
Charles & Co Chartered Certified Accountants 3 Murray Street Llanelli Carmarthenshire SA15 1AQ
FELINFOEL EXECUTIVE COMMITTEE LTD
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 2 |
| Independent Examiner's Report | 3 | ||
| Statement of Financial Activities | 4 | ||
| Balance Sheet | 5 | ||
| Notes to the Financial Statements | 6 | to | 10 |
| Detailed Statement of Financial Activities | 11 |
FELINFOEL EXECUTIVE COMMITTEE LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2021
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 July 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
To promote for the benefit of the inhabitants of Felinfoel and surrounding areas without distinction of sex, sexual orientation, race or of political, religious or other opinions, by associating together the said inhabitants and the local authorities, voluntary and other organisations in a common effort to advance education and to provide facilities in the interests of social welfare for recreation and other leisure time occupations with the objects of improving the conditions of life of the said inhabitants.
Also to manage and maintain a community centre in furtherance of these objectives.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number
07694161 (England and Wales)
Registered Charity number
1149421
Registered office
King George's Playing Fields Felinfoel R Off Ynyswen Road Felinfoel Llanelli Carmarthenshire SA14 8BE
Trustees
H J Evans Retired D I Lewis Retired I C Richards Toolmaker D W H Richards Farmer
Company Secretary
Independent Examiner
Robert Ashley Williams FCCA Association of Chartered Certified Accountants Charles & Co Chartered Certified Accountants 3 Murray Street Llanelli Carmarthenshire SA15 1AQ
Approved by order of the board of trustees on 19 August 2021 and signed on its behalf by:
Page 1
FELINFOEL EXECUTIVE COMMITTEE LTD
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2021
D W H Richards - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF FELINFOEL EXECUTIVE COMMITTEE LTD
Independent examiner's report to the trustees of Felinfoel Executive Committee Ltd ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 July 2021.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Robert Ashley Williams FCCA Association of Chartered Certified Accountants Charles & Co Chartered Certified Accountants 3 Murray Street Llanelli Carmarthenshire SA15 1AQ
19 August 2021
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FELINFOEL EXECUTIVE COMMITTEE LTD
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2021
| 2021 Unrestricted fund Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 17,420 Investment income 2 11,522 Total 28,942 EXPENDITURE ON Charitable activities Felinfoel Community 31,559 NET INCOME/(EXPENDITURE) (2,617) RECONCILIATION OF FUNDS Total funds brought forward 18,745 TOTAL FUNDS CARRIED FORWARD 16,128 |
2020 Total funds £ 14,671 23,376 |
|---|---|
| 38,047 29,898 |
|
| 8,149 10,596 |
|
| 18,745 |
The notes form part of these financial statements
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FELINFOEL EXECUTIVE COMMITTEE LTD
BALANCE SHEET
31 JULY 2021
| 2021 Unrestricted fund Notes £ FIXED ASSETS Tangible assets 6 7,960 CURRENT ASSETS Cash at bank and in hand 8,528 CREDITORS Amounts falling due within one year 7 (360) NET CURRENT ASSETS 8,168 TOTAL ASSETS LESS CURRENT LIABILITIES 16,128 NET ASSETS 16,128 FUNDS 8 Unrestricted funds 16,128 TOTAL FUNDS 16,128 |
2020 Total funds £ 3,517 15,588 (360) 15,228 18,745 18,745 18,745 18,745 |
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2021.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 19 August 2021 and were signed on its behalf by:
D W H Richards - Trustee
The notes form part of these financial statements
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FELINFOEL EXECUTIVE COMMITTEE LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
| Fixtures and fittings | - 20% on reducing balance |
|---|---|
| Computer equipment | - 20% on reducing balance |
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| Rents received Contributions to Utilities |
2021 £ 9,580 1,942 11,522 |
2020 £ 19,994 3,382 |
| 23,376 |
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continued...
FELINFOEL EXECUTIVE COMMITTEE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2021
3. NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| Depreciation - owned assets | 1,989 | 880 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 July 2021 nor for the year ended 31 July 2020.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 July 2021 nor for the year ended 31 July 2020.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted | |
|---|---|
| fund | |
| £ | |
| INCOME AND ENDOWMENTS FROM | |
| Donations and legacies | 14,671 |
| Investment income | 23,376 |
| Total | 38,047 |
| EXPENDITURE ON | |
| Charitable activities | |
| Felinfoel Community | |
| 29,898 | |
| NET INCOME | 8,149 |
| RECONCILIATION OF FUNDS | |
| Total funds brought forward | 10,596 |
| TOTAL FUNDS CARRIED FORWARD | 18,745 |
continued...
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FELINFOEL EXECUTIVE COMMITTEE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2021
6. TANGIBLE FIXED ASSETS
| 6. | TANGIBLE FIXED ASSETS | ||||
|---|---|---|---|---|---|
| Fixtures | |||||
| Plant and | and | Computer | |||
| machinery | fittings | equipment | Totals | ||
| £ | £ | £ | £ | ||
| COST | |||||
| At 1 August 2020 | - | 1,534 | 13,651 | 15,185 | |
| Additions | 6,432 | - | - | 6,432 | |
| At 31 July 2021 | 6,432 | 1,534 | 13,651 | 21,617 | |
| DEPRECIATION | |||||
| At 1 August 2020 | - | 307 | 11,361 | 11,668 | |
| Charge for year | 1,286 | 245 | 458 | 1,989 | |
| At 31 July 2021 | 1,286 | 552 | 11,819 | 13,657 | |
| NET BOOK VALUE | |||||
| At 31 July 2021 | 5,146 | 982 | 1,832 | 7,960 | |
| At 31 July 2020 | - | 1,227 | 2,290 | 3,517 | |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE | YEAR | |||
| 2021 | 2020 | ||||
| £ | £ | ||||
| Accrued expenses | 360 | 360 | |||
| 8. | MOVEMENT IN FUNDS | ||||
| Net | |||||
| movement | At | ||||
| At 1.8.20 | in funds | 31.7.21 | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 18,745 | (2,617) | 16,128 | ||
| TOTAL FUNDS | 18,745 | (2,617) | 16,128 | ||
| Net movement in funds, included in the above are as follows: | |||||
| Incoming | Resources | Movement | |||
| resources | expended | in funds | |||
| £ | £ | £ | |||
| Unrestricted funds | |||||
| General fund | 28,942 | (31,559) | (2,617) | ||
| TOTAL FUNDS | 28,942 | (31,559) | (2,617) |
continued...
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FELINFOEL EXECUTIVE COMMITTEE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2021
8. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net | ||
|---|---|---|
| movement | At | |
| At 1.8.19 | in funds | 31.7.20 |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 10,596 |
8,149 | 18,745 |
| TOTAL FUNDS 10,596 |
8,149 | 18,745 |
| Comparative net movement in funds, included in the above are as follows: | ||
| Incoming | Resources | Movement |
| resources | expended | in funds |
| £ | £ | £ |
| Unrestricted funds | ||
| General fund 38,047 |
(29,898) | 8,149 |
| TOTAL FUNDS 38,047 |
(29,898) | 8,149 |
A current year 12 months and prior year 12 months combined position is as follows:
| Net | |||
|---|---|---|---|
| movement | At | ||
| At 1.8.19 | in funds | 31.7.21 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 10,596 | 5,532 | 16,128 |
| TOTAL FUNDS | 10,596 | 5,532 | 16,128 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General fund | 66,989 | (61,457) | 5,532 |
| TOTAL FUNDS | 66,989 | (61,457) | 5,532 |
continued...
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FELINFOEL EXECUTIVE COMMITTEE LTD
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 JULY 2021
9. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 July 2021.
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FELINFOEL EXECUTIVE COMMITTEE LTD
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2021
| 2021 | 2020 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | - | 580 |
| Grants | 17,420 | 14,091 |
| 17,420 | 14,671 | |
| Investment income | ||
| Rents received | 9,580 | 19,994 |
| Contributions to Utilities | 1,942 | 3,382 |
| 11,522 | 23,376 | |
| Total incoming resources | 28,942 | 38,047 |
| EXPENDITURE | ||
| Charitable activities | ||
| Wages | 2,100 | 1,200 |
| Rates and water | 1,812 | 2,308 |
| Insurance | 1,527 | 1,386 |
| Light and heat | 9,512 | 10,569 |
| Telephone | 163 | - |
| Sundries | 4,726 | 2,089 |
| Cleaning | 4,116 | 5,046 |
| Depreciation of tangible fixed assets | 1,989 | 880 |
| Grants to institutions | 5,000 | 5,880 |
| 30,945 | 29,358 | |
| Support costs | ||
| Finance | ||
| Bank charges | 254 | 180 |
| Governance costs | ||
| Accountancy and legal fees | 360 | 360 |
| Total resources expended | 31,559 | 29,898 |
| Net (expenditure)/income | (2,617) | 8,149 |
This page does not form part of the statutory financial statements
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