Charity Registration number 1166716 C#nolfan Pentre CIO Independent Examiners Report & Accounts for the year ended 31 December 2023
Canolfln Pentre CIO Charity inforniation Trustees Andrew Evans Lauren Jenkins Georgina Williams Elizabeth Williams Company Secretaries Rachel Evans & Jonathan Bundy Charity number 1166716 Registered office Canolfan Pentre CIO HahOrn Villa Catherine Sireet Pentre CF417DP Accountants R H Jeffs & Rowe Limited 27128 Gelliwastad Road Pontypridd CF37 2HW Banker5 Barclays
Canolf3iD Pentre CIO Contents Page Accountants, report Statement of Financial Aciivities Balance shect Notes to the financial statements 4-10
Independent Examiner's Report to the Trllstees of Canolfan PeDtre CIO I report on the financial statements of the CIO, in¢luding the statement of finan¢ial a¢tivities, balance sheet and not¢s, for the year ended 31 December 2023 as set out on pages I to I l. This report is made solely to the charity's trustees, as a body. in a¢¢ordance with Section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the ¢harity's trustees those matters l am required to state to them in this report and for no other purpose. To the fullcst extent pemiitted by law, I do not accept or assutne responsibility to anyone other than the ¢h&rity and the charity's trustees as a body. for my work, for this repoT( or for the opinions I have fonned. Respec¢ive responsibilities of trustees and examiner The charity's trustees (who are also the directors of the company for the purposes of cotnpany law) are responsible for the preparation of financial statements. The trustees consider that an audit is not required for this year under S¢¢tion 144 of ihe Charities Act 2011 ('th¢ Charities ACV) and that an independent examination is needed. It is my responsibility to.. l) examine the financial statements under Section 145 of the Charities Act; 2) lo follow the procedures laid down in the General Directions given by Ih¢ Charity Commission under section 145(5)(b) of the Charilies Act; and 3) to state where particular matters have come to my attention. Basis of independent examiner's statement My examination was carried out in &¢¢ord&nce with the geneTal Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements prcsented with those records. It also includes consideration of any unusual items or disclosures in ihe financial statements and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would b¢ required in an audit, and cunsequently no opinion is given as to whether the financial statements present a 'true and f&ir view, and the rew)rt is limifrd to thos¢ matters set out in the slat¢m¢nt below. ndependent examiner's statement In connection with my examination, no marter has come to my attention.. l) Which gives me reasonable cause to believe that in, any material resp¢¢t the requirements.. to keep accounting records in accordan¢e with section 130 of the Charities ACL and to prepare financial statements whi¢h accord with the a¢counting records and comply with the ac¢ounting requirements of the Charities Act have noi been met. or 2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial slat¢ments to be reached. Mr. R E Thomas Bsc FCA R H Jeffs & Rowe Limited 27128 Gelliwastad Road Pontypridd Page I
Canolfan Pentre CIO Statement of Financial Aetivities for the yethr to 31 Detetnber 2023 Notes Unrestricted Total Total Restricted year to 31112123 year to 31112122 Income and Endowments Incoming resources frotn charitable activities= Hire of Centre - Grants Tuck Shop - Pop Up Shop Volunlary income.. Gifts, donations and other income 2,152 84,993 8,709 80.971 80,971 12,122 2,770 12,122 2,770 10,047 10,047 9,848 Tot311 Income and Endowments 24,939 80,971 105,910 105,702 Expendlture Charitable activities Expenditure on Charitable activities - Governance sts 25,157 1,146 101,847 127,004 1,146 105,722 1,026 Total Expenditure 26,303 101,847 128,150 106,748 Movement in total funds for the year: Nei Incoming (Outgoing) resources before transfers (1,364) (20,876) (22,240) (1,046) Transfer Between Funds (3,949) 3,949 Net Incoming {Outgoing) resources (5,313) (16,927) (22,240) (1,046) Totsl Funds brought forward 78,526 179,039 257,565 258,611 Totsl Funds earrled fonvard 73,213 162,112 235,325 257.565 The statement of financial activities includes all gains and losses recognised in the year. All in¢oming resour¢es and resources expended derive from continuing activities. Page 2
Canolfan PeDtre CIO Charity Registration number 1166716 Balance sheet as at 31 December 2023 2023 2022 Notes Fixed Assets Property. plant and ¢quipm¢nt 181,971 205,278 Current Assets Cash at bank and in hand 54,768 63.476 54,768 63,476 Credltors: Amounts falling due within one year (1,414) (11,189) Net Current assets 53.354 52,287 Totsl A5set5 Less Current Liabilities 235.325 257.565 The Funds of tbe Charity Unrestricted Funds Restricted Funds 73,213 162,112 78,526 179,039 Totll Charlty Funds 235,325 257,565 The note on pages 4 - 7 forni part of these accounts. The finan¢ial statements were approved by the Truste¢ Board on and signed on its behalf by Elizabeth Willlams Page 3
CanoifAn Pentre CIO Notes to the financial ststements for the year ended 31 December 2023 Accounting policies 1.1. Accounting Convention The financial statements have been prepared under the historical cost eonvention wtth items recognised at cost or transaction value unless othen¥ise staled in the relevant note(s) to these accounts. The financial statements have been prepared in accoTdance with the Statement of R¢¢ommended Practice.. Accounting and Reporting by Charities preparing their ac¢ounls in accordance with the Financial Reporting Standard applicable in the UK (FRS 102) issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom (FRS 102) and the Charilies Act 2011. The charity consitutes a public benefit entity as defined by FRS 102. The Trustees have considercd the going concern of the charity over the next year and consider the Charity to continue to be a viable going concern and that there are no material un¢ertainilies regarding going concem. 1.2. Taxation The Centre, being a registered charity, has no income that would attract income tax. 1.3. IDeome & Endowments All incoine is recognised once the charity has entitlemcnt to the income, it is probable that the in¢om¢ will be recievcd and the amount of income receivable can b¢ measured reliably. Donations arc rccognised when the charity has been notified in writing of both the atnount and settlement date. Distribution Income is taken into account on the date p&id into the Charities bank account. Government Grants have been accounted for when received. Grants wer¢ received towards the ¢ompletion of charitable objectives. 1.4. Fund Accounting The unrestricted funds of the Charity comprise those monies which are available to be used towards the meeting of the chariSabl¢ obj¢¢tiv¢s of th¢ Charity at the discretion of the Managemeni Committee. The restricted funds are monies raised or received for a specifi¢ purpose and accounted for in accordance with the donors imposed conditions. 1.5. 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 reli&bly. All expenditure is accounted for on an accruals basis. Page 4
Canoifall Pentre CIO Notes to tbe financial statements for the year ended 31 December 2023 1.6. Tangible fixed assets and depreciatio Depre¢ialion is provided at rates calculated to write off th¢ ¢ost less residual value of each assel over ils exp¢¢t¢d usefi]I life, as follows.. Land and buildings Building element depreciated on a Straighi Lin¢ basis over 50 years Depreciated on a Straighi Line basis over 25 years 20 /0 per annum on a reducing balan¢¢ basis Improvements to Building Fixtures. fittings and equipment Motor vehicles 200/0 Straight Line basis 1.7. Debtors Trade debtors and other debtors are r¢cognised at the settlement amount du¢ after any trade discounts offered. Prepayments are valued at the atnount prepaid nel of any discounts due. Creditors Creditors are re¢ognised where the charity has a presenl obligation resulting from a past ¢vent that will probably result in the transfer of funds to a third party and the amount due to settle the obligation ¢an b¢ measured or estimated reliably. Creditors are norn)ally recognised at their settlement amount after allowing for any trade discounts due. Net Ineoming Resources 2023 2022 Net incoming resources is stated after charging- Independent Examiners, remuneration Payroll costs 960 186 882 144 Income & Endowment5 Totsi Period to 31112123 TotAI Period to 31112122 Included within Income & Endowments for the Period are: Grgnts RCT Moondance Foundation National Lottery Asda Blakemore Foundation High Street Social Toys Wartn and Well Mabon Trust 3,300 15,000 59,656 1,500 30,000 51,843 500 150 1,000 2,890 125 80,971 84,993 Page 5
Canoifan Pentre CIO Notes to the financial statements for the year ended 31 December 2023 4. Totsl resourees expended Basis of Allo¢ation Charity Operating Costs Goverllante Total year to 31112123 Total year to 31112122 Costs directly allocated to #etivitie5 Sessional and delivery costs Tuck Shop Pur¢has¢s COVID-19 Care Packs Direct Direct Direct 87,571 693 87,571 693 67,961 3,931 358 88,264 88,264 72,250 Support eosts allocated to xctivilies Light and heat Repairs and maintenan¢e Insurancc Printing, postage & stationery Clearking Telephone Computer costs Advertising Legal and professional Accountancy Events Bank Charges Depreciation Dir¢¢t Direct Direct Direct Direct Direct Direct Direct Direct Direct Direct Direct Direct 4,385 4,545 2,679 694 4,385 4,545 2,679 694 1,693 4,774 981 20 1,123 1,222 1,123 1,222 936 1,009 40 183 1,026 1,787 1,146 1,146 428 357 23,307 428 357 23,307 22,049 38,740 1,146 39,886 34,498 127,004 1,146 128,150 106,748 Page 6
Canoifan Pentre CIO Notes to the finaneial sÉatemeDts for the year ended 31 December 2023 Stsff Costs Total Totll ye#r to year to 31112123 31112122 Staff costs during the Period comprised of the following: Staff Salaries and Expenses 12240 12240 The average number of employees during the Period amounted to l (2022 -0), and Can b¢ analysed as follows: Administration No employee was paid £60,000 or tnore during th¢ Period.(2022 '.nil) The Trustees r¢¢eived no retnuneration or benefits in conneclion with the perfonnance of their duties. The Tnkstees also did not claim any expenses during the year. No Related Patty transactions occured during the year. Fixtures rittings and Molor Extension Equipment vehicles Propertyy plant #nd equipment Total Cost At l January 2023 136,671 168,063 11,999 316,733 At 31 December 2023 136,671 168,063 11,999 316,733 Depreciation At l January 2023 Charge for the year 8,685 2,464 98,170 18,443 4,600 2,400 111,455 23,307 At 31 December 2023 1,149 16,613 7,000 134,762 Net book values At 31 Deccinbcr 2023 125,522 51,450 4,999 181,971 Ai l January 2023 127,986 69,893 7,399 205,278 P#ge 7
Canolfan Pentre CIO Notes to the financial statements for the year ended 31 December 2023 Creditors: amounts falling due within one year 2023 2022 Accruals 1,414 11,189 1,414 11,189 Profit and loss account Reserve5 Total At l January 2023 Loss for the year 257,565 257,565 (22,240) (22,240) At 31 Deeember 2023 235,325 235,325 Page 8
Canolfan Pentre CIO Notes to the financi311 statements for the year ended 31 December 2023 Unrestrieted/Restricted Funds At 01101123 Incoming Outgoing Transfe Resourees Resources At 31112123 Unrestri¢t¢d Funds Restri¢ted Funds Big Lottery Fund (toilet and door r¢furb) Welsh Church Fund Refurb - Warni and Well Grant Garden Project Trivallis Moondance Foundation (Vehicle) Garfield Western Extension Project - MUGA Project Trivallis Cameras Proj¢¢t New Floodgates (Moondance Fdn) Building Project (Interlink and Vol Act MT) Big Lottery Fund (wages and equipment) Awards for All (Wages) High Street Social (Toys) - RCT Food Support RCT Detnentia Grant RCT Winter Hardship - Mabon Trust - Moondance 78,526 24,939 (26,303) (3,949) 73,213 4,568 1,664 (520) (567) (635) (1,177) (600) (2,400) (1,293) (7.841) (481) (2,790) 4,048 1,097 1,355 2.774 1,990 3,951 600 8,880 59,828 34,927 1,515 47,438 12,699 6,480 58,535 27,086 1,034 44,648 11,528 59,656 (60,408) 752 (6,626) 3,170 3,456 113 300 1,400 1,900 125 15,000 (294) 1.400 1,900 (152) (14,892) 27 108 257,565 105,910 (128,150) 235,325 Big Lottery Fund Funding was secured io renew thc access doors and toilets at the premises. This has been completed and the balance is the undepreciated net book value carried fonvard in Property, Plant and Equipment. Welsh Church Fund Refurb The fund was pledged by Welsh Church Fund Fund during the year to go towards roller shutters, flooring, projector, tables and chairs all purchased in the year. These have been purchased and are depreciated from ihe fund over their useful life. G#rden Projeet Funding raised towards the renovation of the garden al the premises. This work has been completed and the balance relates to the value of the asset in the accounts which will be deducted with the depreciation charge over its lifespan. Moondance Foundation Grant awarded covcrcd the Cost of the kitchen upgrade and the food provision "Top Up Shop" Page 9
CAnolfan Pentre CIO Notes ¢0 the financial $tatemen¢s for the year ended 31 December 2023 Garfield Western Extension Project This money was granied to the charity towards an extension build at the prcTnises, this covers all legal, furnisl)ing and garden works that will come with the build. This has been completed and the balance is the und¢pr¢ciated nel book value Carried forward in Property, Plant and Equipment. MUGA Project The charity rcceived money frotrk the Wind Farm Fund and RCT for the purpose of building a Multi usage gaming area. The charity achieved this by leasing the derelict park pool area from the local authority and ¢ommissioning contractors to build this play space. Thc charity has a ten-year lease on this area. This has been completed and the balance is the undepreciated net book value carried fonvard in Property, Plant and Equipment. Trivallls Cameras Project Travllis grant provided funding for new security ¢8meras, ¢merg¢n¢y lighting and fire alarm/sensors. This has been completed and the balance is the undepreciated net book value carried forward in Propety, Plant and Equipment. New Floodgates Grant provided by Moondance Foundation towards cost of new floodgates which have been pur¢has¢d and are being depreciated over their estimated useful life with the remaining balance being the undepreciated nei book value carried forward in Property, Plant and Equipmei)t. New Building Grants provided by Interlink RCT and Vol Act MT towards building work undertaken during 2020 such as a new canopy and and path decking. This work was completed during 2020 and is being depreciated over ils estimated useful life and the remaining balance is the undeprecial¢d net book value Caled forward in Property, Plant and Equipment. Big Lottery Fund (W#%es and Equipment) Grant provided under the Big Lottery Fund in 2023 ¢ov¢rs staff. wages, advertising and a small amount towards energy. This was topped up by the Centre where necessary. io. Analysis of Net Assets betweell Funds Totsl Unrestricted Restricted Tangible Fixed Assets Net Current Assetsl(Liabiliti¢s) 20,265 52,948 161,706 406 181,971 53,354 73,213 162,112 235,325 Page 10
Canolfan Pentre Trustee Re ort Year End December 2023 Tru5tees- Andrew Evans Elizabeth Williams Georgina Williams Lauren Jenkin5 Committee- Secretary - Ryan Evans Tresurer- Rachel Evans/Elizabeth Williams Chair Person- Jonathan Bundy. Thi5 report will detail the progress of Canolfan Pentre CIO through 2023. We would like to begin with offering our sincere thanks to all volunteers and community support throughout 2023, again, its been a difficult year and we have worked hard to over come many challenges in todays financial climate. As previously stated 2023 was another challenging year with the cost-of-living crisis dictating our order of running. We are seeing an ever-increasing number of people coming to us for sUPPOrt, fmm mental health to everyday essentials, we predict this will only become more challenging as the Christmas period approaches. Our after-school clubs have also doubled in numbers, we also credit this to the cost-of-living crisis, ever becoming a drain on parent's finances, we envisage that our user numbers in our preschool and after school clubs will continue to grow. We have been fortunate to secure five years of National Lottery funding that gives us the scope to plan for the future without worrying how we will pay our staff, giving us more time and opportunities to ensure the most vulnerable in our communities are cared for and know that they can turn to us when needed. We continue to look for new ways to engage with our community and ensure that we provide the type of classes and provision that is needed to support our community members.
The way forward - Social prescribing will be key to the post paridemic fall out, with GP. mental health and support services being stretched to their limits, the Third sector will be relied upon to once again ensure that the is an alternative option. The accounts, remain healthy, we are lookinE for ways to become more sustainable without the need of outside funding. Buildin The building is in good order with repairs being taken care of as and when required. We have replaced the lights I the main room as there was an issue with their age and condition. We have replaced all floor coverings, and we now have a new fitted kitchen. The garden area is in Eood order with plenty of outside provision for our younger and older users to enjoy. We have replaced all internal doors. All maintenance issues are reported to our landlords RCTCBC. Vehicle The vehicle is taxed, insured and maintained, as and when required. Insurances Our insurances are all dealt with by Keegan and Pennykid. We find it far easier to keep all our insurances in one place with one company. MUGA The MUGA continues to be a great facility for our community, it is well used and is in good order. Goals for 2023 To be self-sustainable. We continue to monitor the impact of the pandemic and the cost-of-living crisis. We continue to meet monthly and have weekly team meetings to ensure that we are prepared for all eventualities. Rachel Evens Manager Canolfan Pentre
Kayleigh Holley Under manager