Charity registration number 1161591 GROW CARDIFF ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
GROW CARDIFF CONTENTS Page Trustees, report Independent examinerfs report ststement of financial activities Balance sheet 10 Notes to the financial statements 11-24
GROW CARDIFF TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annual report and financial statements for the year ended 31 March 2024. The financial slatements have been prepared in accordan with the accounting policies set out in note 1 to the financial slatements and comply with the chariws [goveming documentl, the Charities Act 2011 and "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 Purposes of the charity The objects of Grow Cardiff are: To promote for the benefit of the inhabitants of Cardiff and the surrounding area, the provision of facilities for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving the condition of life of the said inhabitants, in particular by the provision of community gardens and other local food initiatives, land and community growing projects and the provision of opportunities for growing and volunteering Summary of the main activities Grow Cardiffs activities focus on three areas of public benefit-. Health. Education and Community. Activities are enabled through the charity's commitment to develop and sustsin its work for as long as its services are needed. Trustees and staff are Gommitted to using community gardening as a tool to improve the lives and places of people living in communities across Cardiff, in particular those disadvantaged through poverty and exclusion. Health Grow Cardiff continues to deliver and develop the Grow Well project in partnership with the Southwest Cardiff Primary Care Cluster. The social prescribing project supports adults struggling with their mental andlor physical health, loneliness and isolation - often a complex mix of on-going problems. The project has been delivered across three sites in southwest Cardiff and supported just over 100 patients to engage in weekly therapeutic community garden sessions for health and wellbeing. In May 2023 funding for Grow Well was successfully secured for two years from NHS Charities Together, in partnership with Cardiff & Vale Health Charity- To support more vulnerable local people to engage in activities over the colder winter months. the indoor 'Creative Grow Well, ran successfully for its second year. In addition, Grow Cardiff has conducted a feasibility Study to explore a potential fourth Grow Well garden in partnership with the City & South Cluster. This new site looks to support the populations of Grangetown, Butetown. central Cardiff and Cardiff Bay. Grow Cardiff successfully tendered to Cardiff & Vale University Health Board to deliver this service. New staff will be recruited to the Grow Cardiff team with delivery due to COMEnCe summer 2024. Grow Cardiff is seeking to renew its successful partnership wilh the Wales School of Social Prescribing Research IWSSPR) later in 2024, to conduct an independent evaluation of the impact of the Grow Well project on participant health and wellbeing over a 4 year period. Education Over the last year, Grow Cardiff has worked with 20 primary schools in Cardiff, training teachers, teaching assistants and children to successfully develop and grow their own community gardens. Much of this work has been delivered through the Edible Playgrounds programme, developed in partnership with Trees for Cities. Communities Grow Cardiff has continued to support, mentor and provide consultancy to a number of community gardens and projects across the city and beyond Cardiff. In particular, Grow Cardiff has supported Riverside C(xnmunity Garden. Pontcanna Pennanent Allotments. Our work was highlighted in a BBC series. To secure the future of Riverside Community Garden, the charity has begun a new partnership with Cardiff Salad Garden, who will manage the project and site from April 2024.
GROW CARDIFF TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Sustaining Grow Cardiff As external operations have developed over the year, it has been vital to develop a corresponding internal infrastructure to support and sustain the charity. Work has been undertaken to significantly improve Grow Cardiff's financial systems, planning. policies and procedures. staff training and support. and fundraising. Key developments have included the development of a Theory of Change, purchase of a new Electric Van, website upgrade and the move of the team office to The Sustsinable Studio. Public benefit All trustees have had full regard of the Charity Commission's guidance on public benefit Contribution made by volunteers Valuing the contributions of volunteers and supporting them lo grow personally, develop their skills and see their ambitions realised through their participation in Grow Cardiffs work, is embedded in the charity's DNA. Volunteer participants are vital lo the development and sustainability of each Grow Cardiff community garden, each bringing unique, valuable skills and lived experience. Grow Cardiff has a strong asset-based Gommunity development approach to developing its operations and supporting volunteers. c(Fproducing gardens. projects and the overall strategy of the organisation with volunteers active in gardens also providing vital insight in the board. Volunteers Gan progress to become Lead Volunteers where individuals recognise that they would like to support others to thrive through the charity's different projects. Grow Cardiff has supported a team of Lead Volunteers to develop this year who have contributed to every aspect of the charity's operations. from working in primary and secondary schools, beekeeping, to supporting patients engaging in the Grow Well project and in the strategic development of the charity at board level. Lead Volunteers assist Grow Cardiffs staff in supporting session participants, day-to-day operational activities. planning, reviewing and the development of garden sites. Grow Cardiff highly values its volunteers and seeks to ensure that each is fully supported and provided with appropriate training and development opportunities. This year volunteers took part in training opportunities including- working therapeutically (occupational therapy training), working with teachers and children to grow in schools, Food Hygiene, Beekeeping and played a significant role in developing Grow Cardiff s Theory of Change. In addition. Grow Cardiff has supported groups of volunteers from corporate partners whose staff have worked at the charity's community gardens on staff wellbeing days. Achievements and performance Through our Health workstream, Grow Cardiff has continued lo develop Ihe Grow Well project at three therapeutic community garden sites across the city, in partnership with the SW Cardiff Primary Care Cluster. This was enabled through Grow Cardiff securing a £197K grant in partnership with Cardiff & Vale Health Charity and NHS Charities Together. To date, it is the largest grant the charity has secured and has enabled significant new project developments. Over the course of the year the charity has supported 94 patients and local people who self-referred to improve their mental health and wellbeing through weekly therapeutic community garden sessions. 790 visitors engaged in garden activities or events over the same period. The charity also engaged and supported 20 adults in therapeutic, natur&based indoor crafts, who for health reasons, were unable to attend outdoor sessK)ns from November 2023 - March 2024 through the indoor Creative Grow Well project. The gardens attracted over 500 visitors and staff engaged more than 500 people through events. All of the Grow Well gardens have grown and shared fruit. vegetables and herbs with pariicipants and their surrounding local communities. Significant landscaping and infrastructure developments have taken place across all of the sites, such as the new all-weather garden sheller at Riverside Health centre. Grow Cardiff was the only charity in Wales to secure 2 year funding for Grow Well through NHS Charilies Togetherl Cardiff & Vale Health charity. This has enabled the charity to increase the number and length of Grow Well sessions and increase staffing capacity in order to provide increased support to more local people. These developments were enabled Ihrough the creation of a new Grow Well C(H)rdinator post to oversee operalional developments.
GROW CARDIFF TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 In the Education workstream, Grow Cardiff completed training for the 2022-23 cohort of Edible Playground primary schools and having secured a further contract with Trees for Cities, began work with a new 2023-24 cohort. In total, the charity has worked simultaneously with 18 schools across the city this year. Grow Cardiff is proud to have adapted its programme and approach to support the learning needs of Welsh medium schools as well as those supporting children with special educational needs. Grow Cardiffs School Engagement Officers trained 442 staff and supported 2,484 children to take part in hands-on educational workshops, teaching adults and children alike how to grow and sustain their school gardens year-round. In response to feedback from schools, Grow Cardiff co- designed and delivered a follow up 'second year, support training package for schools who had previously taken part in the Edible Playgrounds programme, who sought refresher training for staff. Community Grow Cardiff continued to mentor three community garden projects as well as support volunteers to grow and share food at Riverside Community Garden. Following a review of the structure and support needed to take the project forward, the Grow Cardiff trustees and staff. in agreement with Riverside Community Garden volunteers, supported the project to transition management of the garden to Cardiff Salad Garden. This will enable further funding, staffing and development of the project and secure its longer temi future. The charity is proud to have been awarded four Green Flag Awards this year for its community gardens. In addition, the Riverside Health Centre site was a national finalist in the BBC One ShowlRHS Community Garden of the Year awards. Achievements against objectives set Over the last 12 months Grow Cardiff has: Increased the number of adults engaged in therapeutic community gardening activity Increased the capacity, biodiversity and food grown across the charity's community gardens Engaged, supported and trained more teachers and children to grow and sustain their own gardens Mentored and supported new and struggling community garden projects Begun a Theory of Change process Increased the size of the stsff leam Restructured the Grow Well team to increase delivery Used the restructure to free up core staff time for new strategic developments, thus increasing management resilience Purchased an electric van Upgraded the charity's website Moved to a new office base Increased the diversity, skill and experience of the board of trustees Performance of fundraising activities against objectives set Fundraising objectives for 2023-24 were to continue to secure income for core development, new and existing projects and to increase unrestricted income via service delivery contracts, together with mentoring and consultancy. Grow Cardiff is proud to have been awarded £197K over two years to support the delivery and develcpment of the Grow Well project. This is the charity's most significant grant to date and marks a step change in the level of income it has been able to secure. Grow Cardiff continues to be committed to increasing unrestricted income and reducing dependency restricted grant funding. This year the charity has successfully secured a further contract with Trees for Cities to develop the Edible Playgrounds programme. In addition, it has secured a two year £30K grant with The Fore to fund its Director's post to enable new strategic development. The charity's total received restricted income increased this year from £141 K (2022-23} to £195K.
GROW CARDIFF TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 These funds enabled the charity to become more sustainable as Grow Cardiff has secured core income and new and match funding for existing projects. Notable funds included.. The Fore.. £15,000 (Director's post) The National Lottery, People's Project: £10,000 {for the new Grow Well Co-ordinator's post) First instalment of £197K Cardiff & Vale Health CharitylNHS Charities Together grant (for Grow Well) Grow Cardiff decreased its unrestricted income from £70K (2022-23) to £36K. This reduction was due to increased income in 2022-23 due to a 'one off arrears payment of Employment Allowance dating back several years- and the timing of reIptS, meaning that income for the Schools, contract through Edible Playgrounds was lower. New sources of unrestricted funding were secured through mentoring and ¢onsultanGy work. Grow Cardiff is committed to increasing its unrestrided income over the coming year. Investment performance against objectives For the second year, Grow Cardiff's finances have been prepared on an Accruals basis. (Previously they were prepared on a Cash basis.) Financial review Total income for the year was £231.235 being £35.805 of unrestricted funds and £195,430 of restricted funds. The unrestricted funds caried forward at the year end were £62,159 (2023.. £41,779) and restricted funds of £18,184 12023.. £18,847). The free reserves were £34,837 (2023.. £41,779). Review of the charity's financial position At the end of the reporting period, cash funds, held in a bank account or as unspent balances on prepaid cards, totalled £105K. Policy for holding reserves Reserves are needed to bridge the gap beeen the spending and the receiving of income and in the unlikely event that no further income is generated andlor the trustees decide to close the charity. The nature of Grow Cardiffs funding results in income being received at uneven inteNals. As such the trustees have determined that the unrestricted reserves held by the organisation ought to be sufficient to cover at least three monlhs of salary costs. It should be noted that reslricted fvnds usually indude a contribution towards stsff costs and therefore provide an additional means to cover staff costs. 3 months, salary from April - June 2024 amounts to £42,370. With free reserves of £34,837, the charity was £7,533 short of meeting its reserves policy. Trustees to address this as a matter of concern going forward. Amount of reserves held are £34.837.
GROW CARDIFF TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The charity's principal sources of funds {including any fundraising) Grants from.. Cardiff & Vale Health CharitylNHS Charities Together The National Lottery Community Fund The Fore Glamorgan Voluntary Services Cardiff & Vale University Health Board Cardiff Council Contract for services.. Trees for Cities (for the delivery of the Edible Playgrounds programme) Grow Cardiff has also secured unrestricted income through workshops, mentoring and consultancy Grow Cardiff has received significant in-kind fijnding lo physically redevelop its sites through Keep Wales Tidy, Local Places for Nature project Principal risks facing the charity The principal risk is mainlaining a range of income SoUrs. particulady for sustainability of OLf core work and the Grow Well project our most significant project delivery. Grow Cardiff continues to be reliant on grants for the majority of ils work. Securing funding for core posts and a two year grant for the Grow Well project mitigaled these risks for 2023-24 and 2024-25. However, going forward. the charity needs to secure longer term funding for more than two years at a time. The risk to the charity would be lessened by securing more unrestricted, non-grant funding. In the 2022-23 TAR, il was noted that a significant risk to the charity was the use of the Director's lime to oversee the charity's main operational delivery: the Grow Well project. In 2023-24, core funding was secured for a Grow Well Co-ordinator post. which freed up the Director's time to focus on strategic objectives, including altemative funding sources. In June 2023 the long serving Grow Cardiff Chair stepped down from the role due to unexpected personal circumstances with no prospective of a new Chair in place. However. following a short period of rellection. the board and staff were delighted to accept the offer of existing trustee, Alun Jones, who comes to the role with decades of experience in the third and privale sectors. Grow Cardiff must continue to secure core funding to enable organisational and strategic development of the charity. It is important that the core posts and systems have sufficient resources to grow proportionately with increasing project delivery. In addition. Grow Cardiff must secure on-going project funding to deliver against organisational objectives and secure staff posts to enable this Structu, governance and management Constitution The organisation became a Charitable Incorporated Organisation (CIO) on 8 May 2015. The charity's governing document is CIO - Association Registered 8 May 2015. Trustee recruitment Potential trustees are invited to join board meetings and 'shadow'. to understand the structure and set-up of the board and its work. Thereafter, if the individual wishes to join the board and the board agrees that this is in the interest of the Gharity's aims, the individual Gan formally be c(H)pted onto the board during any trustee meetings at the agreement of the existing trustees during board meetings. Election of trustees- at the first AGM all trustees stand down and are re-appointed if elected and seconded. Thereafter the 3 truslees who have been in post the longest stand down at each AGM. Trustees can Ihen be re- appointed if proposed and seconded, or new trustees can be appointed to a maximum of 12.
GROW CARDIFF TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Induction and training of trustees After an initial conversation with the Directorlchair of Irustees, potential new trustees sil in and shadow board meetings. If they wish to apply to join the board they are selected on the basis of experience and skills needed to complement the existing portfolio of trustee expertise and strategic objectives. This process is guided by reference to the charity's 'trustee skillslexperience matrix. which is used to detemiine 'gaps' across the board. Trustees aim to attract as diverse a range of backgrounds and relevant skills and experience as possible. in order to reflect the communities the charity seNes. All new trustees must complete a registration. declaration. and Conflict of Interest forms. They are required to provide referenS where deemed necessary, and are provided with the Charity Commission's 'The Essential Trustee, and infomialion about public benefit. Organisational structure and any wider network with which the charity works Volunteer participants are at the heart of our organisation. They are supported by a team of lead volunteers and 7 part-time staff (who focus on education, health and community workstreams). The delivery team is supported by an Admin & Finance Officer and Grow Well Evaluation Officer, overseen by a Director who is accountable lo the Grow Cardiff board of trustees with a Chair. Treasurer and Secretary. The charity works closely with the Edible Cardiff neiwork, Food Cardiff and the SW Cardiff GP Cluster and social prescribing network, WCVA and C3SC networks. In addition, the charity has corporate partnerships with Lovell, Knights Brown, Starbucks and Hubbub. Key partnerships in the community include ACE (Action in Caerau and Ely), the Probation Service, Community Payback team and Keep Wales Tidy. Related parties Grow Cardiff is committed to an on-going relationship with London-based charity Trees for Cities. with whom it delivers the Edible Playgrounds programme. in partnership with Cardiff Council.
GROW CARDIFF TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Reference and Administrative details Charity name Grow Cardiff Registered charity number 1161591 Charity's principal address 460 Cowbridge Road West, Cardiff CF5 5BZ Trustees Francoise Curtis Sarah Griffiths (Chair) until 22 June 2023 Dr Jemma Hawkins Alun Jones (Chair) from 9 November 2023 Aisling Judge Stephen Parry-Langdon (Treasurer) Penelope Smith (Secretary} Nicola Thomas John Daniel Owen Geoff Smith - appointed 25 January 2024 Senior staff members Isla Horton (Director) The trustees, report was approved by the Board of Trustees. Alun Jones (Chair) Stephen Pary-Langdon (Treasurer) Date.. 30-01-2025
GROW CARDIFF INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GROW CARDIFF I report to the trustees on my examination of the financial statements of Grow Cardiff (the charity) for the year ended 31 March 2024. Responsibilities and basis of report As the trustees of Ihe charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of my examination of the charitys financial statements carried out under section 145 of the 2011 Act. 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. Independent examinerfs statement Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance Vth the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) in preferen to the Accounting and Reporting by Charities= Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been thdrawn. l understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporbng periods beginning on or after 1 January 2015. I have completed my examination. I confimi that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect- accounting records were not kept in respect of the charty as required by section 130 of the 2011 Act., or the financial statements do not accord with those records- or the financial statements do not comply with the applicable requirements concerning the form and content of accounts sel out in the Charities (Accounts and Reporls) Regulations 2008 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. 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. Craig Yearsley FCCA Azets Audit Services clo A2ets Ty Derw, Lime Tree Court Cardiff Gate Business Park Cardiff CF23 8AB United Kingdom 3t Ja8ry 2025
GROW CARDIFF STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Restricted funds funds Total Unrestricted Restricted funds funds Total 2024 2024 2024 2023 2023 2023 Notes Income from: Donations and legacies Charitable activities 419 35,386 500 194,930 919 230,316 70,341 141,030 211,371 Total income 35,805 195.430 231,235 70,341 141,030 211,371 enditure on" Charitable activities 58.064 153,454 211.518 46.575 122,315 168,890 Net (outgoing)lincoming resources before transfers (22,259) 41.976 19.717 23,766 18,715 42,481 Gross transfers between funds 42,639 (42,639) 1,962 11,962) Net incomel(expendituj for the yearl Net movement in funds 20,380 (663) 19,717 25,728 16,753 42,481 Fund balances at 1 April 2023 41.779 18.847 60.626 16,051 2,094 18,145 Fund balances at 31 March 2024 62,159 18.184 80,343 41,779 18,847 60,626 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
GROW CARDIFF BALANCE SHEET ASAT31 MARCH 2024 2024 2023 Notes Fixed assets Tangible assets 10 27,322 Current assets Debtors Cash at bank and in hand 11 3,012 105.382 2,062 156,504 108.394 158.566 Creditors: amounts falling due within one year 12 (55,373) (97,940) Net current assets 53,021 60,626 Total assets less current liabilities 80,343 60,626 Income funds Restricted funds Unrestricted funds Designated funds General unrestricted funds 14 18,184 18.847 15 27.322 34.837 41,779 62,159 41,779 80,343 60,626 The financial statements were approved by the Trustees on . 30-01-2025 Alun Jones (Chair) Stephen Parry-Langdon rfreasurer) 10-
GROW CARDIFF NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies Charity information Grow Cardiff is a charitable incorporated organiation. 1.1 Accounting convention The financial statements have been prepared in accordance with the charity's Igoverning documentl, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" I'FRS 102-1 and the Charities SORP '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 1021" (effective 1 January 2019}. The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statent of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practi which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in steding. which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concem basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objeGtives. Restricted funds are subject to specific conditions by donors as lo how they may be used. The purwses and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject lo specific conditions by donors that the capital must be maintained by the charity. 1.4 Income Income is recognised when the charity is legally entitled to it after any Performan conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation. unless perf0mlan conditions require deferral of the amount. Income tax recoverable in relation to donations reiVed under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. 11
GROW CARDIFF NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economiG benefit to a third party. 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 classified by activity. The Gosts of eaGh activity are made up of the total of dIrt costs and shared costs, including support costs involved in undertaking each activity- Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activitEs on a basis consistent with the use of resources. Central staff cosls are allocated on Ihe basis of time spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Motor vehicles 200/0 reducing balance The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset. and is recognised in the statement of financial activities. 1.7 Impairment of fixed assets At each reporting end date, the charity reviews the carying amounts of its tangible assets to detemiine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the chariws balance sheet when thè charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial ststements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financial assets Basic financial assets. which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 12-
GROW CARDIFF NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction. where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rale method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if paymenl is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.10 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's ServIS are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide temiination benefits. 1.11 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Critical accounting estimates and judgements In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects fflly that period. or in the period of the revision and future periods where the revision affects both current and future periods. Donations and legacies Unrestricted Restricted funds funds Total Total 2024 2024 2024 2023 Donations and gifts 419 500 919 13-
GROW CARDIFF NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charitable activities 2024 2023 Charitable activities Consultancy and workshops Performance related grants Other income 20,186 1,257 208,873 56,356 5,975 141,030 8,010 230,316 211,371 Analysis by fund Unrestricted funds Restricted funds 35,386 194,930 70.341 141,030 230,316 211,371 WCVA {Thrive) The Beacon Lodge Charitable Trust Comic Relief Moondance Foundation Cardiff & Vale Health CharitylNHS Charities Together Cardiff Third Sector Council - Hau Third Sector Fund Cardiff and Vale ULHB The National Lottery Community Fund Track 2000 Plot to Pantry Grow Well (Direct Food) Grow Well (Greener Communities Fund) Grow Well (Other) Riverside Community Garden (Awards forAII) Grow Well (National Lottery Peoples Project) Grow Well (Third Sector Capital Fund) Creative Grow Well (SW Cluster 23-24) The Fore 15,476 16,124 3,000 5,805 35,637 49,556 2,995 19,967 5,734 7.517 35,015 35,000 7,470 61,923 68 9,781 5,838 9,868 7,629 15,000 208,873 141,030 14-
GROW CARDIFF NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charitable activities 2024 2023 Staff costs Depreciation and impaimient Insurance Other costs and charitable activities It & Software costs Travel costs Advertising & marketing Premise costs 150,901 6,830 2,531 35.211 1,919 1,580 5,473 4,659 114,461 722 42,852 1,731 1,400 385 3.125 209,104 164,676 Share of support costs (see note 6) Share of governance costs (see note 6) 274 2,140 2,514 1.700 211,518 168,890 Analysis by fund Unrestricted funds Restricted funds 58,064 153,454 46,575 122,315 211,518 168,890 Support costs Support Govemance costs costs 2024 Support Governance costs costs 2023 Professional fees and banking fees 274 274 2.514 2.514 Independent examiners fees 2.140 2,140 1,700 1,700 274 2,140 2,414 2,514 1,700 4,214 Analysed between Charitable activities 274 2.140 2.414 2,514 1,700 4.214 Governance costs includes payments to the independent examiners of £2.14012023.' £1,700). 15-
GROW CARDIFF NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Trustees None of Ihe trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year or the prior year. Employees The average monthly number of employees during the yearwas: 2024 Number 2023 Number Employment costs 2024 2023 Wages and salaries Other pension costs 147,641 3,260 114,461 150,901 114,461 The totsl salary costs (including employers national insurance and pension contributions) paid to Key Management Personnel is £33,272 (2023= £31.000} There were no employees whose annual remuneration was more than £60,000. Taxation The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 10 Tangible fixed assets Motor vehicles Cost Additions 34,152 At 31 March 2024 34,152 Depreciation and impaimient Depreciation Gharged in the year 6,830 At 31 March 2024 6,830 Carrying amount At 31 March 2024 27,322 16-
GROW CARDIFF NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 11 Debtors 2024 2023 Amounts falling due within one year: Trade debtors Prepayments and accrued income 3,012 2,062 3,012 2,062 12 Creditors: amounts falling due within one year 2024 2023 Notes Deferred income Trade creditors Accruals and deferred income 13 51,971 1,362 2,040 91,296 3,944 2.700 55,373 97,940 13 Deferred income 2024 2023 Other deferred income 51,971 91,296 Deferred income is included in the financial statements as follows: 2024 2023 Deferred income is included within.. Current liabilities 51,971 91,296 Movements in the year: Deferred income at 1 April 2023 Released from previous periods Resources deferred in the year 91,296 (91,296) 51,971 50,748 (44,943) 85,491 Deferred income at 31 March 2024 51,971 91,296 17-
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GROW CARDIFF NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 15 Designated funds The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes: Movement in funds Incoming resources Balance at 1 April 2023 Resources expended Transfers Balance at 31 March 2024 Fixed assel fund (6,830) 34,152 27,322 (6,830) 34,152 27,322 The fixed asset fund represents the functional fixed assets used to further the charity's aims. Transfers from the designated fund relate to additions and depreciation movement in the year. -22-
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GROW CARDIFF NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 17 Related party transactions One trustees is a relative of an employee. Any potential conflict of interest is managed in line with Charity Commission guidance. There were no other disclosable related paty transactions during the year (2023 - none). -24-