OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2024-03-31-accounts

Company Registration number 08339362

Charity Registration number 1151259

Tylorstown Welfare Hall Limited

Annual Report and Financial Statements

for the year ended 31 March 2024

Tylorstown Welfare Hall Limited

Contents

Page
Trustees' Report 1 - 3
Independent Examiners' Report 4
Statement of Financial Activities 5
Balance Sheet 6 - 7
Notes to the Financial Statements 8 - 14

Tylorstown Welfare Hall Limited

Reference and administrative information

Trustees Dawn Berrington
Ceri Hunt
Eva Thomas
William Richards
Bryn Williams
Lynsey Holley Matthews (Appointed 13 September 2023)
Samuel Stensland (Appointed 13 September 2023)
Wayne Carter (Appointed 8 February 2024)
Manager Rebecca Sullivan
Registered office Tylorstown Welfare Hall
East Road
Tylorstown
Rhondda
South Wales
CF43 3DA
Accountants RH Jeffs & Rowe
27/28 Gelliwastad Road
Pontypridd
CF37 2BW
Bank Barclays Bank Plc
Website https://www.tylorstownwelfarehall.co.uk/
Company Number 08339362
Charity Number 1151259

Tylorstown Welfare Hall Limited

Trustees' Annual Report for the year ended 31st March 2024

The Board of Trustees present their report together with the financial statements of Tylorstown Welfare Hall Limited ('the Charity') for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out on page 8. This report also represents the Directors' Report as required by company law. The Charity continues to manage Tylorstown Welfare Hall which is the building standing at the registered address noted in this report ('the Hall').

Chair's Introduction

The year 2023-2024 has been incredibly busy and rewarding for us, with a wide array of community activities, including family prize bingo, monthly evening socials, pantomimes, family events, and a weekly parent and toddler group. These events have not only succeeded but have grown in popularity, resulting in a current footfall of approximately 2,000 people per month.

In June 2023, we were thrilled to secure £286,338 from the Heritage Lottery Fund to support the Development Phase of our refurbishment project. This funding has enabled us to hire a professional design team to create plans and apply for additional funding needed for the delivery phase. This project is a significant step toward making our facilities more accessible, welcoming, and sustainable for the future.

We are now actively working to secure £5 million from various funders to bring this vision to life.

Structure Governance and Management

The Charity is a limited company governed by its Articles of Association. All Members of the Board are independent unremunerated trustees. We employ a Community Development Manager ('the Manager') to undertake the day-to-day management and liaise with the community. There are numerous volunteers who run the events and activities of the Hall.

Risk Management

We ensure there is always effective communication between Trustees, the Manager and volunteers. We have a staff handbook, policies and procedure which are currently being updated. All Trustees, the Manager and volunteers have a Disclosure and Barring Service check where required.

Volunteers

The Trustees appreciate the contribution of all the volunteers who have given time for the Hall during the year. Without them all we have achieved so far would not have been possible.

Objectives and Activities for Public Benefit

The Charity is a limited company and registered charity, and the Trustees have regard for the Charity Commissions guidance on public benefit. The values of those responsible for the Hall's development are based around the desire to provide accessible and affordable opportunities for economic activity, self-improvement and self-reliance by creating a local centre run by local people for local people. The Charity's mission is to achieve this through:

Page 1

Tylorstown Welfare Hall Limited

Trustees' Annual Report for the year ended 31st March 2024

Future Plans

The following plans are critical to the future of the Charity:

Financial Review

For the year ended 31 March 2024 the Charity had total income of £251,885 (2023 : £108,967). £179,784 of this came from grants and donations (2023 : £21,949) whilst most of the remaining income came from charitable activities such as Hall hire and the sale of goods within the building. These totalled £72,101 (2023 : £83,365). Total expenditure came to £240,227 (2023 : £132,715).

Therefore the charity made a surplus for the year of £11,658 for the year having made a deficit of £23,748 in 2022/23.

At 31 March 2024 the Charity had total net assets of £75,162 (2023 : £63,504) having increased from last year by the surplus from the Income & Expenditure account. £34,694 of these net assets relate to Restricted Funds (2023 : £16,450) leaving Unrestricted Funds of £40,468 (2023 : £47,054).

Statement of Trustees' Responsibilities

The Trustees (who are also the Directors for the purpose of company law) are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.

Company law requires the Trustees to prepare financial statements for each financial year. Under that law the Trustees must prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period.

Page 2

Tylorstown Welfare Hall Limited

Trustees' Annual Report for the year ended 31st March 2024

In preparing the financial statements the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees confirm that so far as they are aware, there is no relevant audit information (as defined by section 418(3) of the Companies Act 2006) of which the charitable company's auditors are unaware. They have taken all the steps that they ought to have taken as Trustees in order to make themselves aware of any relevant audit information and to establish that the charitable company's auditors are aware of that information.

The report has been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

This report was approved by the Board of Trustees on 20 November 2024 and signed on its behalf by:

D A Berrington

Trustee

Page 3

Independent Examiner's Report to the Trustees of Tylorstown Welfare Hall Limited

I report to the Trustees (who are also Directors for the purpose of company law) on my examination of the financial statements of Tylorstown Welfare Hall Limited (the 'charitable company') for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet and related notes.

This report is made solely to the charity's Trustees, as a body, in accordance with Section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the Trustees of a charitable company 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 charitable 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 the charitable company's financial statements carried out under section 145 of the Charities Act 2011 ('the 2011 Act') and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

An independent examination does not involve gathering all the evidence that would be required in an audit and consequently does not cover all the matters that an auditor considers in giving their opinion on the financial statements. The planning and conduct of an audit goes beyond the limited assurance that an independent examination can provide. Consequently I express no opinion as to whether the financial statements present a 'true and fair' view and my report is limited to those specific matters set out in the independent examiner's statement.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

a) accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act; or

b) the financial statements do not accord with those records; or

c) the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair view which is not a matter considered as part of an independent examination; or

d) the financial statements 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 financial statements to be reached.

Mr. R E Thomas BSc FCA RH Jeffs & Rowe Chartered Accountants 27/28 Gelliwastad Road Pontypridd

21 November 2024

Page 4

Tylorstown Welfare Hall Limited

Statement of Financial Activities for the year ended 31st March 2024

Notes Unrestricted Unrestricted Restricted 2024 2023
£ £ £ £
Income & Endowments
Voluntary income:
-Grants & Donations 2 2,104 177,680 179,784 21,949
Activities for Generating Funds:
-Charitable activities 2 72,101 - 72,101 83,365
Other income:
Insurance Receipts - - - 3,653
Total Income & Endowments 74,205 177,680 251,885 108,967
Expenditure
Charitable activities 3 80,791 159,436 240,227 132,715
Total Expenditure 80,791 159,436 240,227 132,715
Movement in total funds for the year:
Net Income for the period (6,586 ) 18,244 11,658 (23,748 )
Total Funds brought forward 47,054 16,450 63,504 87,252
Total Funds carried forward 40,468 34,694 75,162 63,504

The statement of financial activities includes all gains and losses recognised in the year. All Income, Endowments and Expenditure derive from continuing activities.

Page 5

Tylorstown Welfare Hall Limited

Balance Sheet as at 31st March 2024

Notes
Fixed Assets
Tangible assets
6
Current Assets
Stocks
Debtors
7
Cash at bank and in hand
Creditors: amounts falling
due within one year
8
Net Current assets
Net Assets
Funds
Unrestricted Funds
9
Restricted Funds
10
2024
£
3,020
13,251
28,275
44,546
)
(15,327
)
(15,327
£
45,943
29,219
75,162
40,468
34,694
75,162
2023
£
4,144
13,251
5,927
23,322
)
(8,374
)
(8,374
£
48,556
14,948
63,504
47,054
16,450
63,504

Page 6

Tylorstown Welfare Hall Limited

Balance Sheet (continued) as at 31 March 2024

Directors' statements required by Sections 475 (2) and (3)

For the year ended 31 March 2024 the company was entitled to exemption from audit 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 he Companies Act 2006; and

The Board of Trustees acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Under Companies Act 2006, S454, on a voluntary basis, the trustees can amend these financial statements if they subsequently prove to be defective.

These accounts were approved by the Board of Trustees on 20 November 2024, and are signed on their behalf by:

D A Berrington

Trustee

Company registration number 08339362

The notes on pages 8 to 14 form an integral part of these financial statements.

Page 7

Tylorstown Welfare Hall Limited

Notes to the financial statements for the year ended 31st March 2024

Statutory Information

Tylorstown Welfare Hall Limited is a registered charity and private company limited by guarantee having no share capital. The company is incorporated in Wales in the United Kingdom. The registered office is East Road, Tylorstown, Rhondda, CF45 3DA. The nature of the Charity's operations and principal activities is disclosed within the Trustees Report.

The financial statements are presented in Sterling (£), the Charity's functional currency, and rounded to the nearest pound.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

1. Accounting Policies

1.1. Basis of preparation and assessment of going concern

The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard, applicable in the United Kingdom and Republic of Ireland (FRS 102); and the Charities Act 2011.

The Charity constitutes a public benefit entity as defined by FRS 102.

Going Concern

Having considered the year ahead, and despite the government lockdowns which have curtailed most of the activities at the Hall until the end of the calendar year, the Trustees consider that there are no material uncertainties about the Hall's ability to continue as a going concern. This is due to the funding received from Heritage Lottery Fund.

1.2. Taxation

The Charity, being registered, is exempt from Corporation Tax.

1.3. Fund Accounting

The unrestricted funds of the Charity comprise those monies which are available to be used towards the meeting of the charitable objectives of the charity at the discretion of the Trustees.

The restricted funds are monies raised or received for a specific purpose and accounted for in accordance with the donors' imposed conditions.

1.4. Volunteers

The Welfare Hall could not exist without the services of the many volunteers that help throughout the year. The value of services provided by volunteers is not incorporated into these financial statements.

1.5. Tangible fixed assets and depreciation

Depreciation is provided on equipment at 15% reducing balance, 5% straight line or 20% straight line basis calculated to write off the cost less residual value of each asset over its expected useful life.

Page 8

Tylorstown Welfare Hall Limited

Notes to the financial statements for the year ended 31st March 2024

1.6. Income & Endowments

All incoming resources are included in the Statement of Financial Activities when the Charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

1.7. 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 settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. Expenditure includes any value added tax (VAT) which cannot be fully recovered.

Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the Charity and include the audit fees and costs linked to the strategic management of the Charity.

All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis.

Turnover represents the total invoice value, excluding VAT, of sales made during the year.

Stock is calculated at the lower of cost and net realisable value for each item of stock held at the period end date.

Page 9

Tylorstown Welfare Hall Limited

Notes to the financial statements for the year ended 31st March 2024

1.10. Debtors

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

1.11 Creditors

Creditors 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 are normally recognised at their settlement amount after allowing for any trade discounts due.

1.12 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

2. Income & Endowments

Included within Income & Endowments for the year are:
Grants & Donations
Rhondda Cynon Taff County Borough Council
Coalfields Regeneration
CISWO Revenue Assistance
Heritage Lottery Fund
Donations
Charitable activities:
Room and Hall Rental
Bar Income
Bingo & Raffle
Shop Sales
Coffee Shop Sales
Entertainment
2024
£
9,218
960
-
167,502
2,104
179,784
23,277
15,392
14,020
7,366
7,151
4,895
72,101
2023
£
-
-
1,000
20,250
699
21,949
33,152
14,948
15,792
6,346
5,936
7,191
83,365

Page 10

Tylorstown Welfare Hall Limited

Notes to the financial statements

for the year ended 31st March 2024

**3. ** Expenditure Basis of Administration Bar & Entertainment/ Other Governance
Allocation Costs Shop Bingo Events Costs Costs 2024 2023
Costs directly allocated to activities £ £ £ £ £ £ £ £
Wages & Salaries including Taxes Direct 58,081 - - - - - 58,081 40,560
Bar & Shop Purchases Direct - 17,518 - - - - 17,518 12,262
Bingo Costs Direct - - 9,755 - - - 9,755 9,757
Events Direct - - - 11,429 - - 11,429 9,934
Costs directly allocated to activities 58,081 17,518 9,755 11,429 - - 96,783 72,513
Support costs allocated to activities
Equipment Costs Direct 958 - - - - - 958 976
Licences Direct 990 - - - - - 990 1,283
Insurance Direct 5,977 - - - - - 5,977 5,428
Water, Light and Heat Direct 15,403 - - - - - 15,403 6,600
Cleaning Direct 229 - - - - - 229 96
Repairs and Maintenance Direct 11,857 - - - - - 11,857 8,062
Printing, Postage and Stationery Direct 442 - - - - - 442 573
Telephone Direct 2,051 - - - - - 2,051 1,332
Computer costs Direct 3,119 - - - - - 3,119 3,610
Legal and Professional Direct - - - - - 90,934 90,934 21,915
Accountancy & Payroll Direct - - - - - 1,763 1,763 1,579
Bank Charges Direct 1,949 - - - - - 1,949 261
General expenses Direct 881 - - - - - 881 1,280
Charitable donations Direct - - - - 164 - 164 206
Depreciation on Fixtures & Equipment Direct - - - - 6,502 - 6,502 6,701
Other Expenses Direct - - - - 225 - 225 300
Support costs 43,856 - - - 6,891 92,697 143,444 60,202
Total Expenditure 101,937 17,518 9,755 11,429 6,891 92,697 240,227 132,715

Page 11

Tylorstown Welfare Hall Limited

Notes to the financial statements for the year ended 31st March 2024

4. Staff and Trustee Costs

The average number of paid employees during the year was 3 (2023 : 2).

The Trustees received no remuneration or benefit in connection with the performance of their duties. No Trustees' expenses occured during the year.

Volunteers play a crucial role in the running of the Hall and without their time and effort the Hall would not have been able to run the way it has done in the last few years.

No employee was paid £60,000 or more during the year (2023 : nil).

Net Wages paid (Key Management)
Other Wages paid
PAYE & Employees National Insurance
Pension costs
Total Wages costs
2024
40,366
5,360
9,537
2,818
58,081
2023
26,909
5,360
6,539
1,752
40,560

5. Related Party Transactions

Dawn Berrington, a Trustee of the charity, was paid £5,360 (2023 : £5,360) for cleaning the Hall thoroughout the period. Whenever her role or pay was discussed by the Trustees, she was excused from the meeting for the duration of the discussion and any votes about those matters. Having been paid as a self employed person previously, she has been added to the club's payroll as of May 2021 and beyond.

6. Tangible fixed assets

Equipment Total
£ £
Cost
At 31 March 2023 72,198 72,198
Additions 3,889 3,889
At 31 March 2024 76,087 76,087
Depreciation
At 31 March 2023 23,642 23,642
Charge for the year 6,502 6,502
At 31 March 2024 30,144 30,144
Net book values
At 31 March 2024 45,943 45,943
At 31 March 2023 48,556 48,556

Page 12

Tylorstown Welfare Hall Limited

Notes to the financial statements for the year ended 31st March 2024

7. Debtors 2024 2023
£ £
Owed by Tylorstown Welfare Hall & Institute 13,251 13,251
13,251 13,251
Owed by Tylorstown Welfare Hall & Institute - amounts incurred on behalf and owed to the Charity by
the seperate holding entity which that owns the Hall.
8. Creditors: amounts falling due 2024 2023
within one year £ £
Other taxes and social security costs 2,509 1,836
Credit Card 8,885 3,808
Accruals 3,933 2,730
15,327 8,374
9. Analysis of Net Assets Between Funds Total
**Unrestricted ** Restricted
£ £ £
Tangible Fixed Assets 4,412 41,531 45,943
Net Current Assets 36,056 )
(6,837
29,219
40,468 34,694 75,162

Page 13

Tylorstown Welfare Hall Limited

Notes to the financial statements for the year ended 31st March 2024

10. Restricted Funds

Restricted Funds
At 1st Apr Incoming Outgoing At 31st Mar
2023 Resources Resources 2024
£ £ £
Restoration Projects -
Heritage Lottery Fund 2 167,502 (152,766 ) 14,738
10K Target - towards refurbishment 8,870 - (960 ) 7,910
Other Projects -
SW Miners Grant Assistance 3,158 - (474 ) 2,684
Hall4All Oral History Project 1,423 - (362 ) 1,061
Coalfields Regeneration Trust 2,997 960 (1,575 ) 2,382
Rhondda Cynon Taff - 9,218 (3,299 ) 5,919
16,450 177,680 (159,436 ) 34,694

Restoration Project

Money has been granted to the charity towards the project for the restoration of the Welfare Hall building. Some of this has been spent on capital expenditure items which will be depreciated from the fund in line with the figures going through the accounts each year.

South Wales Miners Grant Assistance

Funding secured towards replacing the windows at the Hall. This work has been done and the cost will be depreciated from the fund in line with the figures going through the accounts each year.

A Hall4All Project

15-minute Heritage fund is an oral history project that aims to capture the memories of local people surrounding the hall, working in partnership with the Archives Dept at Swansea University. The funding will pay for equipment, time and an Evalution in the form of a podcast.

Coalfields Regeneration Trust

Money provided for staging upgrades. This has been spent and is being depreciated from the fund in line with the figures going through the accounts each year.

Rhondda Cynon Taff

Money provided to improve our regular community activities, including new furniture, EPOS cash register and other equipment for activities.

Page 14