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2023-03-31-accounts

Caerau Development Trust

Charity No. 1150390

Company No. 06849950

Trustees' Report and Unaudited Accounts

31 March 2023

Caerau Development Trust Contents

Pages
Trustees' Annual Report 2 to 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Summary Income and Expenditure Account 8
Balance Sheet 9
Notes to the Accounts 10 to 18
Detailed Statement of Financial Activities 19 to 20

Page 1

Caerau Development Trust Trustees Annual Report

The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 31 March 2023.

REFERENCE AND ADMINISTRATIVE DETAILS

Company No. 06849950

Charity No. 1150390

Principal Office

The Community Centre Woodlands Terrance Caerau Maesteg CF34 0SR

Registered Office

Community Centre Woodland Terrace Maesteg Mid Glamorgan CF34 0SR

Directors and Trustees

The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:

L. Cook (Resigned 22 February 2023) P. Davies G. Dawe J. Dawe K. Edwards P. Jones A. King B. King (Resigned 22 February 2023) I. Morris P. Nut C. Pryme

Accountants

Robert Cole & Co Office 2 Llynfi Ent. Centre Heol Ty Gwyn Ind. Estate Maesteg CF34 0BQ

Bankers

Nat West Bank Plc 35-37 Station Road Port Talbot SA13 1NH

Page 2

Caerau Development Trust Trustees Annual Report

OBJECTIVES AND ACTIVITIES

The objects for which the Charity is established, as set out in its governing document, are: The promotion, for public benefit, or community and economic regeneration in Caerau in the County Borough of Bridgend, and the surrounding areas, by all or any of the following means: - The relief of poverty in such ways as may be thought fit; - The relief of unemployment in such ways as may be thought fit; - The advancement of education and training; - The maintenance, improvement or provision of public amenities; - The provision or assistance in the provision of recreational facilities; - The provision of public health and childcare facilities; - The promotion of public safety and the prevention of crime; - The protection and improvement of the natural environment and the conservation of local heritage; - Other means as may from time-to-time be determined subject to the prior consent of the Charity Commission of England & Wales.

The main activities undertaken in relation to those purposes during the year: The Charity supports a number of projects for the benefit of the people of Caerau and the surrounding area, and some of the public benefits of these projects are detailed below.

The main activities undertaken to further the charity's purposes for the public benefit:

The principle activity of the Charity in the year under review was to further or benefit the residents of the Llynfi Valley and the surrounding areas, without distinction of gender, sexual orientation, race or of political, religious or other opinions by associating together the said residents and other agencies, sectors and service providers in a common effort to advance education and to provide facilities in the interests of social welfare for recreation leisure time occupation with the objective of improving the conditions of life for the residents.

The Charity maintains a community centre for the benefit of the local residents and the surrounding area. Within the community centre there is a charity shop and a cafe. There is also an in-house food outlet offering free discounted groceries. Many courses are run from the centre for the benefit of the community. These include first aid training, table tennis, cookery, heath & hygiene, job club, a spiritual group, a be-friending group, and a guitar club. There are also various youth activities and bingo sessions.

The trustees have had regard to the Charity Commission's guidance on public benefit in managing the activities of the charity.

ACHIEVEMENTS AND PERFORMANCE

Caerau Development Trust (CDT) is a community based charity located in the middle of Caerau, a former mining village at the head of the Llynfi Valley which is rated as one of Wales' poorest communities (rated 6 most deprived area in Wales according to Welsh Government's Index of Deprivation in 2014). CDT, which is entirely run by volunteers, provides a mix of vital services and social activities for local people. These include a second hand clothes shop, a free food collection point (similar in ethos to Fare Share), free IT access and we host drop ins from CAB, the Job centre, local solicitor's and the Credit Union as well as being the location for MP and AM surgeries. We also host social activities including a spiritual group and a music group and we are a location for children's parties and social events run by local clubs such as the OAP club, Men's Shed and others. We are always open to local clubs and groups to use our facilities, often at no charge (on the understanding that attendees use our cafe), and our intention is to provide a welcoming atmosphere where people feel able to come to things they want to do and access services that they need.

Page 3

Caerau Development Trust Trustees Annual Report

One of the greatest benefits of the centre to the local community is the access to free discounted groceries. It is estimated that over 9,300 local people make use of this facility each year. The biggest sources of income for the Charity is the rental of rooms within the centre to course providers, and Cafe Cwtch. During the year-ended 31 March 2023, these generated over £100,000 of income for the Charity. It is estimated that approximately 500 local people benefitted from these courses and 200-300 plus people make use of the cafe facilities.

A summary of the main achievements of the charity, identifying the difference the charity's work has made to its beneficiaries and society as a whole:

Café Cwtch has continued to expand and offers nourishing, healthy meals at a budget price to all members of the local community. The café is open six days a week and is attended by a large number of elderly single people and those with mental health issues. There is also increasing demand for formal dinners for community groups.

The charity shop is run entirely by volunteers and accepts donations of pre-used clothing and other goods which are then offered for re-sale. The shop also operates a recycled school uniforms service and provides free clothing bundles for vagrants and recently discharged prisoners.

FINANCIAL REVIEW

The board of trustees are satisfied with the performance of the charity during the year and the position at 31 March 2023 and consider that the charity is in a strong position to continue its activities during the coming year, and that the charity's assets are adequate to fulfil its obligations. The trustees are pleased to report that agreement has been reached with the local authority to gain exemption from business rates. This has allowed the previous provisions for liabilities to be reversed, so enhancing the value of the funds held. The trustees consider the financial performance by the charity during the year to have been satisfactory. Specific changes in fixed assets are detailed in the notes to the accounts.

The Trustees aspire to maintain enough reserves to ensure the continued existence of the community centre. All reserves are deemed to be restricted reserves, in that all monies raised, earned or granted are for the running of the centre. The balance of Revenue Restricted Funds as at 31 March 2023 was £15,966 (2022: £46,234).

The board of trustees is satisfied that the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund.

PLANS FOR FUTURE PERIODS

The trustees are in the process of developing a five-year plan and hope to secure grant funding to develop the activities of the charity further. Such matters would include: Consolidating the success of the café as a valid community asset; looking into means of alternative heating methods for the community centre; providing organised holidays to the local community; and becoming a centre for the Duke of Edinburgh's Award Scheme.

Page 4

Caerau Development Trust Trustees Annual Report

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity is constituted as a company limited by guarantee, registered under the Companies Acts. The governing document of the charity is the Memorandum and Articles of Association establishing the company under company legislation, and is dated 17 March 2009. The charity is registered in England & Wales with the Charity Commission in England & Wales (CCEW)with charity number 1150390. There are no restrictions in the governing documents on the operation of the Charity or on its investment powers other than those imposed by Charity Law. By operation of law all, trustees are directors under the Companies Act 2006 and all directors are trustees under Charities legislation and have responsibilities, as such, under both company and charity legislation. The trustees are all individuals. The charity does not operate in any overseas jurisdictions.

The Trustees seek to appoint additional Trustees whenever necessary following recommendations from existing Trustees or the Directors. A potential Trustee would be invited to attend Trustees' meetings as an observer for a few meetings, before any decision is taken concerning their ongoing involvement as a Trustee. Potential Trustees are provided with all the relevant guides from the Charity Commission before any appointment.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

Signed on behalf of the board

C. Pryme Trustee 14 December 2023

Page 5

Caerau Development Trust Independent Examiners Report

Independent Examiner's Report to the trustees of Caerau Development Trust

I report to the charity trustees on my examination of the financial statements of Caerau Development Trust for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet and the related notes.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.

Having satisfied myself that the financial statements of the charity 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 financial statements 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 can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:

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 financial statements to be reached.

Robert Roger Cole Association of Chartered Certified Accountants Robert Cole & Co Office 2 Llynfi Ent. Centre Heol Ty Gwyn Ind. Estate Maesteg

CF34 0BQ

14 December 2023

Page 6

Caerau Development Trust Statement of Financial Activities

for the year ended 31 March 2023

Notes
Income and endowments
from:
Donations and legacies
4
Charitable activities
5
Other trading activities
6
Other
7
Total
Expenditure on:
Charitable activities
8
Other
9
Total
Net gains on investments
Net expenditure
10
Transfers between funds
Net expenditure before other
gains/(losses)
Other gains and losses
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Restricted
funds
2023
£
32,915
65,878
1,900
162		 Total funds
2023
£
32,915
65,878
1,900
162		 Total funds
2022
£
42,038
52,474
6,235
1,662
100,855
26,432
104,691		 100,855
26,432
104,691		 102,409
19,921
92,619
131,123
-		 131,123
-		 112,540
-
(30,268)
-		 (30,268)
-		 (10,131)
-
(30,268) (30,268) (10,131)
(30,268)
46,234		 (30,268)
46,234		 (10,131)
56,365
15,966 15,966 46,234

Page 7

Caerau Development Trust Summary Income and Expenditure Account

for the year ended 31 March 2023

Income
Gross income for the year
Expenditure
Depreciation and charges for
impairment of fixed assets
Total expenditure for the year
Net expenditure before tax for the year
Net expenditure for the year		 2023
£
100,855
100,855
115,594
15,529
131,123
(30,268)
(30,268)		 2022
£
102,409
102,409
96,303
16,237
112,540
(10,131)
(10,131)

Page 8

Caerau Development Trust Balance Sheet

at 31 March 2023

Company No.
06849950
Notes
2023
£
Fixed assets
Tangible assets
13
23,114
23,114
Current assets
Debtors
14
-
Cash at bank and in hand
13,527
13,527
Creditors:Amount falling due within one year
15
(18,475)
Net current (liabilities)/assets
(4,948)
Total assets less current liabilities
18,166
Creditors:Amounts falling due after more than one year
17
(2,200)
Net assets excluding pension asset or liability
15,966
Total net assets
15,966
The funds of the charity
Restricted funds
19
Restricted income funds
15,966
15,966
Unrestricted funds
19
Reserves
19
Total funds
15,966		 2022
£
38,643
38,643
4,595
31,778
36,373
(24,382)
11,991
50,634
(4,400)
46,234
46,234
46,234
46,234
46,234

These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

For the year ended 31 March 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.

Approved by the board on 14 December 2023

And signed on its behalf by:

G. Dawe Trustee

14 December 2023

Page 9

Caerau Development Trust Notes to the Accounts

for the year ended 31 March 2023

Basis of preparation

The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Change in basis of accounting or to previous accounts

The financial statements are presented in Sterling which is the functional currency of the charity. Monetary amounts in the financial statements are rounded to the nearest pound. The significant accounting policies applied in the application of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. No significant judgements have had to be made by the trustees in preparing these financial statements. The trustees are not aware of any material uncertainties about the charity's ability to continue as a going concern.

Fund accounting

Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity.

Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.

Page 10

Caerau Development Trust Notes to the Accounts

Income

Expenditure

Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs. Other expenditure These are support costs not allocated to a particular activity.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Page 11

Caerau Development Trust Notes to the Accounts

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Leasehold property 7.5% straight line Games & equipment 25% straight line Motor vehicles 2% straight line

Trade and other debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.

Trade and other creditors

Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Receipt of donated goods, facilities and services

All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.

2 Company status

The company is a private company limited by guarantee and consequently does not have share capital. The charity is a public benefit entity.

Page 12

Caerau Development Trust Notes to the Accounts

3 Statement of Financial Activities - prior year

Income and endowments from:
Donations and legacies
Charitable activities
Other trading activities
Other
Total
Expenditure on:
Charitable activities
Other
Total
Net income
Net income before other
gains/(losses)
Other gains and losses:
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
4
Income from donations and legacies
Bridgend County Borough
Council & Bridgend
Association of Voluntary
Organisations (BAVO)
National Lottery Main Grant
& Library of Things
Community Foundation
Wales
Moon Dance Foundation		 Restricted
£
3,800
15,467
1,400
12,248
32,915		 Restricted
funds
2022
£
42,038
52,474
6,235
1,662
102,409
19,921
92,619
112,540
(10,131)
(10,131)
(10,131)
56,365
46,234
Total
2023
£
3,800
15,467
1,400
12,248
32,915		 Total funds
2022
£
42,038
52,474
6,235
1,662
102,409
19,921
92,619
112,540
(10,131)
(10,131)
(10,131)
56,365
46,234
Total
2022
£
17,266
-
6,400
18,372
42,038

Page 13

Caerau Development Trust Notes to the Accounts

5 Income from charitable activities

Goods and services in
accordance with the charity's
objects
Ancillary trading in support
of primary purpose trading
6
Income from other trading activities
Letting and licensing of
property for non-charitable
purposes
7
Other income
Small grants & gifts
individually less than £1,000
8
Expenditure on charitable activities
Expenditure on charitable
activities
Goods and services in
accordance with the charity's
objects
Ancillary trading in support
of primary purpose trading
Governance costs		 Restricted
£
28,245
37,633
65,878
Restricted
£
1,900
1,900
Restricted
£
162
162		 Total
2023
£
28,245
37,633
65,878
Total
2023
£
1,900
1,900
Total
2023
£
162
162		 Total
2022
£
24,854
27,620
52,474
Total
2022
£
6,235
6,235
Total
2022
£
1,662
1,662
Restricted
£
26,432
-
26,432		 Total
2023
£
26,432
-
26,432		 Total
2022
£
19,206
715
19,921

Page 14

Caerau Development Trust Notes to the Accounts

9 Other expenditure

9 Other expenditure
Restricted Total Total
2023 2022
£ £ £
Employee costs 33,723 33,723 29,105
Motor and travel costs 31,065 31,065 18,884
Premises costs 15,550 15,550 19,937
Amortisation, depreciation,
impairment, profit/loss on 15,529 15,529 16,237
disposal of fixed assets
General administrative costs 7,509 7,509 7,141
Legal and professional costs 1,315 1,315 1,315
104,691 104,691 92,619
10 Net expenditure before transfers
2023 2022
This is stated after charging: £ £
Depreciation of owned fixed assets 15,529 16,237
11 Trustee remuneration and expenses
2023 2022
Number Number
The nature of the reimbursed expenses No trustees or persons connected with them received any
remuneration from the charity, or any related entity.
12 Staff costs
2023 2022
Salaries and wages 33,723 29,105
33,723 29,105
No employee received emoluments in excess of £60,000.
The average monthly number of full time equivalent employees during the year was as follows:
Engaged on charitable
activities		 2023
Number
2
2		 2022
Number
2
2

Page 15

Caerau Development Trust Notes to the Accounts

13 Tangible fixed assets

Land and
buildings
Games &
equipment
Motor
vehicles
£
£
£
Cost or revaluation
At 1 April 2022
139,104
14,615
16,320
At 31 March 2023
139,104
14,615
16,320
Depreciation and
impairment
At 1 April 2022
115,992
9,106
6,298
Depreciation charge for the
year
10,428
1,837
3,264
At 31 March 2023
126,420
10,943
9,562
Net book values
At 31 March 2023
12,684
3,672
6,758
At 31 March 2022
23,112
5,509
10,022
14 Debtors
2023
£
Other debtors
-
-
15 Creditors:
amounts falling due within one year
2023
£
Other taxes and social security
43
Other creditors
2,167
Accruals
1,279
Deferred income
14,986
18,475
16 Deferred Income
Movement of the deferred income shown in Creditors: amounts falling due within one year
2023
£
At 1 April
23,248
Released in current year
(8,262)
Deferred in current year
-
At 31 March
14,986
17 Creditors:
amounts falling due after more than one year
2023
£
Deferred income
2,200
2,200		 Total
£
170,039
170,039
131,396
15,529
146,925
23,114
38,643
2022
£
4,595
4,595
2022
£
46
-
1,088
23,248
24,382
2022
£
2,200
-
21,048
23,248
2022
£
4,400
4,400

Page 16

Caerau Development Trust Notes to the Accounts

18 Deferred Income

Movement of the deferred income shown in Creditors: amounts falling due more than one year

At 1 April
Released in current year
At 31 March
19 Movement in funds
Restricted funds:
Restricted income funds:
Restricted revenue fund
Total
Unrestricted funds:
Total funds		 At 1 April
2022
46,234
46,234
46,234		 2023
£
4,400
(2,200)
2,200
Incoming
resources
(including
other
gains/losses
)
£
100,855
100,855
100,855		 Resources
expended
£
(131,123)
(131,123)
(131,123)		 2022
£
6,600
(2,200)
4,400
At 31
March
2023
£
15,966
15,966
15,966

Purposes and restrictions in relation to the funds:

Restricted funds: Restricted revenue fund This fund is maintained for the continued existence of the Community Centre and other projects, as detailed in the Schedule of the Statement of Financial Activities.

20 Analysis of net assets between funds

Fixed assets
Net current assets
Creditors due in more than one year and
provisions		 Restricted
funds
£
23,114
(4,948)
(2,200)
15,966		 Total
£
23,114
(4,948)
(2,200)
15,966

Page 17

Caerau Development Trust Notes to the Accounts

21 Reconciliation of net debt

Reconciliation of net debt
Cash and cash equivalents
Net debt		 At 1 April
2022
£		 Cash flows
£		 At 31
March
2023
£
31,778 (18,251) 13,527
31,778
31,778		 (18,251)
(18,251)		 13,527
13,527

22 Related party disclosures

Controlling party

The company is limited by guarantee and has no share capital; thus no single party controls the company. There were no transactions with related parties in the year.

Page 18

Caerau Development Trust Detailed Statement of Financial Activities

for the year ended 31 March 2023

Income and endowments from:
Donations and legacies
Bridgend County Borough Council
& Bridgend Association of
Voluntary Organisations (BAVO)
National Lottery Main Grant &
Library of Things
Community Foundation Wales
Moon Dance Foundation
Charitable activities
Goods and services in accordance
with the charity's objects
Ancillary trading in support of
primary purpose trading
Other trading activities
Letting and licensing of property
for non-charitable purposes
Other
Small grants & gifts individually
less than £1,000
Total income and endowments
Expenditure on:
Charitable activities
Goods and services in accordance
with the charity's objects
Ancillary trading in support of
primary purpose trading
Total of expenditure on charitable
activities
Employee costs
Salaries/wages
Motor and travel costs		 Restricted
funds
2023
£
3,800
15,467
1,400
12,248
32,915
28,245
37,633
65,878
1,900
1,900
162
162
100,855
26,432
-
26,432
26,432
33,723
33,723		 Total funds
2023
£
3,800
15,467
1,400
12,248
32,915
28,245
37,633
65,878
1,900
1,900
162
162
100,855
26,432
-
26,432
26,432
33,723
33,723		 Total funds
2022
£
17,266
-
6,400
18,372
42,038
24,854
27,620
52,474
6,235
6,235
1,662
1,662
102,409
19,206
715
19,921
19,921
29,105
29,105

Page 19

Caerau Development Trust Detailed Statement of Financial Activities

Vehicles - General costs
Travel and subsistence
Premises costs
Rates
Light, heat and power
Premises cleaning
Premises repairs and
maintenance
General administrative costs,
including depreciation and
amortisation
Depreciation of land and
buildings
Depreciation of Games &
equipment
Depreciation of Motor vehicles
Equipment expensed
Equipment leasing and hire
charges
General insurances
Stationery and printing
Sundry expenses
Telephone, fax and broadband
Legal and professional costs
Audit/Independent examination
fees
Accountancy and bookkeeping
Total of expenditure of other costs
Total expenditure
Net gains on investments
Net expenditure
Net expenditure before other
gains/(losses)
Other Gains
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 20,280
10,785
31,065
672
7,759
4,869
2,250
15,550
10,428
1,837
3,264
651
-
4,260
1,159
204
1,235
23,038
600
715
1,315
104,691
131,123
-
(30,268)
(30,268)
-
(30,268)
46,234
15,966		 20,280
10,785
31,065
672
7,759
4,869
2,250
15,550
10,428
1,837
3,264
651
-
4,260
1,159
204
1,235
23,038
600
715
1,315
104,691
131,123
-
(30,268)
(30,268)
-
(30,268)
46,234
15,966		 13,424
5,460
18,884
632
4,803
3,407
11,095
19,937
10,428
2,545
3,264
1,456
144
2,779
1,682
125
955
23,378
600
715
1,315
92,619
112,540
-
(10,131)
(10,131)
-
(10,131)
56,365
46,234

Page 20