**Ferryside Social Enterprise Group** Charity Number 1158602
## **Ferryside Social Enterprise Group CIO**
Charity Registration Number: 1158602
Trustees' report and financial statements for the year ended 31[st] December 2024
**Ferryside Social Enterprise Group**
## **Contents**
||Page|
|---|---|
|Legal and administrative information|1|
|Trustees report|2 - 3|
|Independent Examination report|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the financial statements|7 - 11|
**Ferryside Social Enterprise Group** Charity Number 1158602 **Legal and administrative information**
Company Name: Ferryside Social Enterprise Group CIO Charity Number: 1158602 Address: Calon Y Fferi Community Centre Carmarthen Road Ferryside SA17 5TE Trustees: James Ewen Greenwell Charles Robert Donald Etty-Leal Elizabeth Margaret Gibson Julie Elizabeth McKenzie (appointed 23.10.2024) Angelo Francesco Arnone Corrales (appointed 18.06.2025) Roseanne Blackwell McPhail (appointed 15.01.2025) Pam Rogers (appointed 15.01.2025) Mark John Harwood (resigned 23.10.2024) Richard Lines (Chair) (resigned 14.02.2025) Eleonora Castellazzi (resigned 09.12.2024) Dorothy Ann Morris (resigned 27.05.2025) Irfanullah Safi (appointed 23.10.2024, resigned 05.07.2025) Independent Examiner: Nicola Lewis – EasyBooks (Wales) Ltd Unit 4, Dragon 24, North Dock Llanelli SA15 2LF
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**Ferryside Social Enterprise Group** Charity Number 1158602
## **Report of the Trustees**
_For the year ended 31 December 2024_
The trustees present their report and the financial statements for the year ended 31 December 2024. The trustees who served during the year and up to the date of this report are set out on page 1.
## **Governing Document**
The charity is governed by its trust deed.
## **Objectives**
The principal objects of the charity are to further or benefit the residents of Ferryside, Carmarthenshire and the neighbourhood, without distinction of sex, sexual orientation, race or of political, religious or other opinions by associating together the said residents 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 leisure time occupation with the objective of improving the conditions of life for the residents. Such other charitable purposes which may be charitable according to the law of England and Wales. In furtherance of these objects but not otherwise, the trustees shall have power: to establish or secure the establishment of a community centre and to maintain or manage or co-operate with any statutory authority in the maintenance and management of such a centre for activities promoted by the charity in furtherance of the above objects.
## **Achievements, Activities and Performance**
It gives me great pleasure to present the Chairman’s Report for the period covering January to December 2024. This has been a year of both challenge and achievement for Calon Y Fferi Community Centre. Despite some difficult moments, including building issues and changes in business tenants, the Centre has continued to grow in strength, activity, and community engagement.
## Highlights and Achievements
The Creating Connections project ran from January to September 2024. We hosted over 470 separate events during the project, with numerous of the funded events leading to ongoing self-supporting group activities, including the Whist group, Meditation group, and our monthly Quiz night. Many people who had not previously used the Community Centre attended the events and are now regular visitors. We built a relationship with local social prescribers and community advice organisations who still attend the centre regularly to offer a variety of support and advice to local residents.
In March we appointed two Centre Managers as a full-time equivalent job share, with the help of funding from the Targeted Finance Fund and St Ishmael Community Council. Both managers had previously been involved with Calon y Fferi, and wasted no time getting up to speed, and have formed the core of the staff and trustee team.
Hotel: after losing key staff, we tried a new model for the hotel accommodation, with a third party leasing the rooms and running it as an Airbnb. Despite excellent reviews, they could not make it economically viable and withdrew after the summer season. The hotel was mothballed pending Trustee decisions about its future. We partnered with Cook 24 to host a Community Meal in September 2024. 94 people from the local community joined us in a top-quality feast, drawing new people into the Community Centre. In addition, numerous community connections were made, with people living almost next door to one another meeting for the first time and forging new friendships. This kind of community building is at the heart of Ferryside Social Enterprise Group’s existence.
Multiply funding gave local residents the opportunity to improve maths skills while participating in various creative activities, including art and sewing.
The end of the year saw the introduction of Craft at Calon, an initiative aimed at bringing together local makers and artisans. This project has provided a welcoming space for local talent to showcase their work, share skills, and connect with others in the community. The response has been overwhelmingly positive, and it has truly highlighted the wealth of creativity we have in our area.
## Tenants and Centre Use
We saw some of our tenants move on to new ventures during the year, and we have also welcomed new ones, bringing fresh energy and ideas to the Centre. This healthy turnover is a natural part of community life and reflects the adaptability and ongoing relevance of Calon Y Fferi as a hub for a wide range of activities and organisations. We started the year with 18 tenants and 5 storage users and closed the year with 21 business tenants and 8 storage users.
## Financial Position
After 18 months of our previous treasurer using a different method of record keeping, QuickBooks was
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**Ferryside Social Enterprise Group** Charity Number 1158602
reinstated and brought up to date. Significant work was done to both standardise and simplify our finance recording.
The financial picture remains stable. Although we have not been as successful as hoped in securing external funding this year, careful financial management has allowed us to maintain a positive balance. We have been commended for our ongoing work and stewardship of the Centre, and our ability to sustain operations without compromising our community mission is something we can all be proud of.
## Volunteer Recognition
A particular highlight of the year was holding our first Volunteer Thank You Event. This provided an opportunity to show appreciation to the many people who give their time and effort to make Calon Y Fferi such a special place. A small presentation was made to our volunteers as a token of our gratitude. Their dedication remains at the heart of everything we achieve.
## Building and Maintenance
This year has not been without its challenges. We experienced a flood which left parts of the area covered in mud and required a great deal of cleanup and repair. However, thanks to the hard work and resilience of our volunteers and supporters, we managed to overcome these difficulties and continue our activities with minimal disruption. This episode demonstrated once again the strength and spirit of the Calon Y Fferi community.
## Conclusion
In summary, the past year has been one of solid progress and community spirit. Despite the setbacks, we have achieved a great deal: introducing new initiatives, strengthening community engagement, maintaining financial stability, and celebrating our volunteers. Calon Y Fferi continues to be a welcoming space at the heart of our community—one that fosters creativity, connection, and collaboration.
On behalf of the trustees, I would like to thank everyone—volunteers, staff, tenants, and community members—who have supported Calon Fferi over the past year. Your contribution, in whatever form, ensures that our community centre continues to thrive.
## **Financial review**
## **Policy on reserves**
The reserve policy is to retain a minimum of two months of core staff salaries plus £3,000.
## **Statement of trustees' responsibilities**
The trustees are responsible for preparing the annual report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.
Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of charity's financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a true and fair view, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- make judgements and estimates that are reasonable and prudent; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. Trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees declare that they have approved the trustees’ report above.
On behalf of the board
15/10/2025 Signed:………………………………….Trustee Date:……………… N © Nokenpa
Julie McKenzie Print Name………………………………………
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**Ferryside Social Enterprise Group** Charity Number 1158602
## **Independent Examiner's Report**
**to the trustees of Ferryside Social Enterprise Group CIO** for the Year Ending 31[st] December 2024
## **Respective responsibilities of trustees and examiner**
The charity’s trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.
I have been appointed as independent examiner under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 145 of that Act.
My responsibility is to examine the accounts under section 145 of the Charities Act, to follow the procedures laid down in the general directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and to state whether particular matters have come to our attention.
## **Basis of independent examiner’s statement**
I have examined the financial statements of Ferryside Social Enterprise Group for the year ended 31[st] December 2024 which comprise the Statement of Financial Activities, the Balance Sheet and the related notes.
The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
This report is made solely to the charity’s trustees, as a body, in accordance with section 154 of the Charities Act 2011. My independent examination work has been undertaken so that I might state to the charity's trustees those matters we are required to state to them in an independent examiner’s 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's trustees as a body, for any audit work, for this report, or for the opinions I have formed.
## **Independent examiner’s statement**
In connection with my examination, no matter has come to my attention (other than that disclosed below)
- Which gives me reasonable cause to believe that in, any material respect, the requirements:
- To keep accounting records in accordance with section 130 of the Charities Act; and
- To prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or
- To which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Signed
Date 15[th] October 2025
Nicola Lewis
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**Ferryside Social Enterprise Group** Charity Number 1158602
## **STATEMENT OF FINANCIAL ACTIVITIES**
for the year ended 31st December 2024
## **(including summary income and expenditure account)**
|notes
**INCOME**
3
Donations and legacies
Grants received - Unrestricted
Grants received - Restricted
Trading Activities
Bank Interest Received
**TOTAL INCOME**
**EXPENDITURE**
Raising funds
Grants/Gifts in furtherance of objectives
8
Charitable Activities
4
**TOTAL EXPENDITURE**
Net Income (Expenditure) Before Transfers
Transfers Between Funds
Net Income (Expenditure) After Transfers
Gains/Losses on Revaluation of Fixed Assets
**NET MOVEMENT IN FUNDS**
Total Funds Brought Forward
Total Funds Carried Forward|notes||**Unrestricted**
**Funds**
3,515
400|**Unrestricted**
**Funds**
3,515
400|**Restricted**
**Funds**
1,500
28,453
0
0|**Restricted**
**Funds**
1,500
28,453
0
0||**Total**
**Funds**
5,015
400
28,453
71,129
189|||**last year**
586
12,000
43,240
90,458
281|
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||||
|||||||||||||
|||||71,129
189||||||||
|||||||||||||
|||||75,233||29,953||**105,186**|||146,565|
|||||0
0
69,853||0
0
41,775
41,775
-11,822
1,000
-10,822
0
**-10,822**
461,531
450,709||0
0
111,628|||0
0
111,566|
|||||69,853||||111,628|||111,566|
|||||||||||||
|||||5,379||||-6,442|||34,998|
|||||-1,000
4,379
0||||0
-6,442
0|||0
34,998
0|
|||||**4,379**||||**-6,442**|||**34,998**|
|||||52,768
57,148||||514,299
507,856|||479,301
514,299|
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## **Ferryside Social Enterprise Group** Charity Number 1158602
|||**Unrestricted**|**Restricted**|**Total**||
|---|---|---|---|---|---|
|**BALANCE SHEET**|notes|**Funds**|**Funds**|**Funds**|**last year**|
|as at 31st December 2024||||||
|**Fixed Assets-Tangible**||||||
|Fixed Assets -Tangible|9|1,568|450,709|452,277|464,753|
|**Current Assets**||||||
|Debtors & Prepayments|10|4,129|0|4,129|15,965|
|Accrued Income||0|7,280|7,280|0|
|Bank & Cash||56,005|-7,280|48,725|56,505|
|||60,133|0|60,133|72,470|
|**Current Liabilities (falling due within 1 year)**||||||
|Creditors & Accruals|11|3,553|0|3,553|11,954|
|Deferred Income||0|0|0|9,970|
|Loan - repayments due in 1 year||0|0|0|1,000|
|||3,553|0|3,553|22,924|
|Net Current Assets||56,580|0|56,580|49,546|
|**Total Assets less Current Liabilities**||**58,148**|**450,709**|**508,856**|**514,299**|
|Loans Falling due after 1 year|11|1,000|0|1,000|0|
|Provisions for Liabilities & Charges||0|0|0|0|
|Total Net Assets||**57,148**|**450,709**|**507,856**|**514,299**|
|**Fund Balances**||||||
|Funds B/fwd||52,768|461,531|514,299|479,301|
|Net movement of funds||4,379|-10,822|-6,442|34,998|
|**TOTAL FUNDS**||**57,148**|**450,709**|**507,856**|**514,299**|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies
The members have not required the charitable company to obtain an audit of its financial statements in accordance with Section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102.
The financial statements were approved by the Board on ……....…………. and15/10/2025
were signed on its behalf by:
> Signed…….………………………………………. Ne Nelo Director/Trustee
Print Name……………………………………………........Julie McKenzie
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**Ferryside Social Enterprise Group** Charity Number 1158602
**Notes to the financial statements**
for the year ended 31 December 2024
## **1. Basis of preparation**
## 1.1. Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the Statement of Recommended Practice 'Accounting and Reporting by Charities: Statement of Recommended Practice' (SORP FRS102) and with the Charities Act.
## 1.2. Change in Basis of Accounting
There has been no change in the accounting methods this year.
## 1.3. Changes to previous Accounts
No changes have been made to accounts for the previous years.
## **2. Accounting policies**
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year.
## 2.1 Incoming resources
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:
Voluntary income is received by way of donations and gifts and is included in full in the Statement of Financial Activities when receivable. Gifts donated for resale are included as income when they are sold. Donated assets are included at the value to the charity where this can be quantified, and a third party is bearing the cost. The value of services provided by volunteers has not been included.
Tax Reclaims are included in the SoFA at the same time as the gift to which they relate.
Grants, including grants for the purchase of fixed assets, are recognised in full in the Statement of Financial Activities in the year in which they are receivable.
Income from investments is included in the year in which it is receivable.
Legacies are included when the charity is advised by the personal representative of an estate that payment will be made or property transferred and the amount involved can be quantified.
## 2.2 Resources expended
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates.
Resources expended are recognised in the year in which they are incurred.
Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management.
## 2.3 Tangible fixed assets and depreciation
Expenditure is capitalised if the asset has a useful life of more than 1 year and its cost exceeds £100. Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, on a straight-line basis as follows:
Buildings 2% Equipment 25%
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**Ferryside Social Enterprise Group** Charity Number 1158602
## **3. Analysis of Income**
||This Year|Last Year|
|---|---|---|
|General Gifts and Donations|5,015|586|
|Grants|28,853|55,240|
|Hotel Income|379|21,934|
|Rental Income|65,455|67,629|
|ICT Services|1,339|478|
|Art Sales|882|0|
|Room Hire|3,073|0|
|Other Income|0|417|
|Bank Interest|189|281|
||**105,186**|**146,565**|
Grants to restricted funds are:
|CCC for manager salaries|15,983|
|---|---|
|St Ishmael's for manager salaries|2,500|
|Awards for All|9,970|
||**28,453**|
Grants to Unrestricted funds are:
|Asda Foundation|400|
|---|---|
|||
||**400**|
## **4. Analysis of Expenditure**
Charitable Activities Costs are as follows:
**----- Start of picture text -----**
this year last year
Employee Costs 42,354 37,321
Insurance 6,498 5,913
Rent, Rates, Light & Heat 21,785 24,260
Administration Costs (incl. events) 6,338 7,450
Repairs & Maintenance 9,778 15,011
Travel and subsistence 0 0
Hotel Direct Expenses 309 4,489
Legal and Professional Fees 40 0
Accounting Fees 2,426 2,552
Bank & Card Aquiring Charges 661 925
Loan Interest 0 164
Bad Debts 8,132 0
Depreciation 13,308 13,482
Loss/(Profit) on disposal of asset 0 0
111,628 111,566
**----- End of picture text -----**
The financial value of volunteer time has not been included in the financial statements but forms a crucial part of the success of the organisation.
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**Ferryside Social Enterprise Group** Charity Number 1158602
## **5. Trustee Expenses**
Expenses paid out by trustee Irfanullah Safi amounting to £57.80 were reimbursed during the year.
## **6. Audit & Accounting Fees**
||thisyear|lastyear|
|---|---|---|
|Book Keeping& Software|1,206|1,332|
|Accounts & Examination|1,220|1,220|
## **7. Staff Expenditure**
7.1 Staff Costs include:
|||this Year||Last Year|
|---|---|---|---|---|
|Gross Wages & Salaries (incl. ER NI)||41,145||36,492|
|Pension Costs||654||501|
## 7.2 Number of Employees
|mployees|||||
|---|---|---|---|---|
|||This Year||Last Year|
|Fulltime employees (orequivalent)||1.5||1.5|
||||||
## **8. Grant making**
No donations have been made during the year.
## **9. Fixed Assets**
|Opening Balance Cost
Additions in Year
Disposals in Year
Closing Balance at Cost
Opening Accumulated Depreciation
Charge for year
Released on Disposal
Closing Accumulated Depreciation
**Closing Net Book Value**|Buildings
Equipment|Total|
|---|---|---|
||510,044
15,927
0
832
0
0|525,971
832
0|
||**510,044**
**16,758**|**526,802**|
||50,351
10,867
10,201
3,107
0.00
0|61,218
13,308
0|
||**60,552**
**13,974**|**74,526**|
||**449,492**
**2,784**|**452,277**|
No assets have been re-valued during the year.
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**Ferryside Social Enterprise Group** Charity Number 1158602
## **10. Debtors and prepayments**
The debtor figure represents:
**----- Start of picture text -----**
This Year Last Year
Prepayments 0 5,061
Trade Debtors 4,129 10,904
Accrued Income 7,280 0
Total 11,409 15,965
**----- End of picture text -----**
## **11. Creditors and Accruals**
Amounts falling due within 1 year are as follows:
**----- Start of picture text -----**
This Year Last Year
Trade Creditors 898 5,158
Accruals 1,781 6,530
Net Pay and Pension creditor 874 266
DBW Investment Loan 0 0
Loan From Trustee 0 1,000
Total 3,553 12,954
**----- End of picture text -----**
Amounts falling due after 1 year are as follows:
|||This Year||Last Year|
|---|---|---|---|---|
|Loan From Trustee (Interest Free)||1,000||0|
|**Total**||**1,000**||**0**|
## **12. Other Transactions with Related Parties**
12.1 Remuneration and benefits
No amounts were paid to trustees as salary in the year.
## 12.2 Loans
No loans were made to the trustees or related parties during the year.
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**Ferryside Social Enterprise Group** Charity Number 1158602
## **13. Fund Balances**
Analysis of funds for the year are:-
|Balance
b/fwd
**Restricted Funds:**
Fixed Assets Restricted-net of loans
461,531
DBW Funds
0
CCC Grants
0
St Ishmael's CC
0
Awards for All
0
Donation for Humidity Control
0
461,531
General Funds
52,768|Balance
b/fwd|
Income
Expenditure
Fixed Asset
Transfers
Fund
Transfers|
Balance
c/fwd|
|---|---|---|---|
|||11,822
0
1,000
0
0
0
0
15,983
15,983
0
0
2,500
2,500
0
0
9,970
9,970
0
0
1,500
1,500
0
0|450,709
0
0
0
0
0|
||461,531|29,953
41,775
0
1,000|450,709|
||52,768|75,233
69,853
0
-1,000|57,148|
|**Total Funds**|**514,299**|**105,186**
**111,628**
**0**
**0**
**507,856**||
## **Restricted funds Details:**
**Fixed Assets** – Funds for the restoration of the building (capitalised and held on Fixed Asset Register) net of depreciation and loan liabilities.
**CCC Grants** – CCC provided funding via the Targeted Finance Fund (TFF) to employ a full time Centre Manager for 1 year to facilitate the efficient growth and successful running of the Business and Community Centre.
**St Ishmael Community Council –** provided match funding of the CCC grant to employ a full time Centre Manager at Calon Y Fferi Community Centre.
**Awards for All** – Grant for the Creating Connections Project.
_Spending on capital assets is shown as transfer to Building & Asset fund and will depreciated from that fund._
## **14. Bad Debts**
£8,132 worth of bad debts were written off during the year for rents never received within previous accounting periods.
## **15. Additional Disclosures**
A long-term loan of £1,000 from a former trustee remains outstanding in the accounts and will only be repayable if the organisation is to close.
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