BRECKNOCK FEDERATION OF YFC (CIO) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 BRECKNOCK FEDERATION OF YFC (CIO) INDEX TO THE FINANCIAL STATEMENTS for the year ending 31 August 2024 Page Trustees Report Independent Examiners Report Receipts and Payments Account Staten)ent of Assets and Liabilities Note to the Financial Statements 10 BRECKNOCK FEDERATION OF YFC (CIO) TRUSTEES, REPORT for the year endillg 31 August 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Brecknock Federation of YFC, formed under a Conslilution dated 12 May 2016, is a registered charity no. 1169501 and its address is Brecknock YFC Office, Hay and Brecon Farmers, Ffrwdgrech Industrial Estate, Brecon, LD3 8LA. TRUSTEE SELECTION Trustees are selected at the Annual General Meeting. each club nominate two members to become trustees of the Federation and vote at Executive committee meetings and the AGM. In addition, the County Chairnian, County Vice Chainnan, Finance & Events Committee Chainnan and Vice Chairnian, Con)petitions Con]miltee Chaimian and Vice Cliairn)an. Welsh Language Development Chair and Vice Chairnlan, Youth Forum Chainnan and Vice Chainnan, Board of Managemcnt Chainnan. Counly President and three co-opted rncmbers, all elected or confirnicd at thc AGM are also trustees. Day lo day running of the organisation is carried oui by two part time members of staff. Membership of the clubs associated within the Federation is open lo all young people aged between l O and 28. The trustees oversee the day to day running of the club through the Executive committee" trustees seek the views of the membership, the Federation staff and volunteers in deciding the activities to be run. There are safe guarding and child protection policy in place. Data Barring service check are carried out prior to commencement of employment or trusteeship and checks carried out again in line with statutory requirements. All trnstees give their time voluntarily and receive no remuneration or other benefits as a result of their Irusteeship. TRUSTEES Trustees: Mr Jonaihan Davies (resigned 8 October 2023) Mr Thomas Pritchard (resigned 8 October 2023) Mr Ryan Watkins Mr Sonny Ryland (resigned 8 October 2023) Mr Canvyn Pugh Miss Emma Jones Miss Emma Rees Miss Elin Protheroe Mr Baden Davics Miss Bethan Jones (rcsigned 8 October 2023) Miss Leanne Davies Mr Peter Hope (resigned 8 October 2023) Mr Deryn Evans (resigned 8 October 2023) Miss Libby Davies Miss Sioned Davies Mr Gethin Havard (resigned 8 October 2023) Mr Paul Thomas Miss Ffion Price Miss Millie Samuel (resigned 8 October 2023) Mr Icuan Parry (resigned 8 Oclober 2023) BRECKNOCK FEDERATION OF YFC (CIO) TRUSTEES, REPORT (continued) for the year ending 31 August 2024 Trustees (continued): Mr Samuel Powell (resigned 8 October 2023} Mr Nick Jones (resigncd 8 October 2023} Miss Beatrice Jones (resigned 8 October 2023) Mr Chris Jones (resigned 8 October 2023) Mr Jack Baldwyn (rcsigncd 8 October 2023) Mr Dafydd Havard (rcsigncd 8 October 2023) Miss Isobel Hood (resigned 8 October 2023) Mr Iwan Davies Miss Chloe Hyde Miss Ffion Williams Mrs Samantha Davies Mr Chris Davies Miss Ffion Hemming (appointed 8 October 2023) Mr Niall Evans (appointed 8 October 2023) Mr Geihin Williams (appointed 8 October 2023) Mr Jamie Coles (appointed 8 October 2023) Miss Elin Havard (appointed 8 October 2023) Mr leuan Williams (appointed 8 October 2023) Miss Lucy Brown (appointed 8 October 2023) Mr Craig Jones (appointed 8 Oclobcr 2023) Mr Luke Smith (appointed 8 October 2023} Miss Rachel Rees (appointed 8 October 2023) Mrs Sharon Healey (appointed 8 October 2023) Miss Sian Healey (appointed 8 October 2023) Mr Stephen Matthews (appoinled 8 October 2023) Mr Robert Healey (appointed 8 October 2023) Mr Ben Bowen (appointed 8 October 2023) The Trustees are nominated and elected at the Federation's Annual Meeting. BRECKIYOCK FEDERATION OF YFC (CIO) TRUSTEES, REPORT (continued) for the year ending 31 August 2024 Prineipal office: YFC Office Hay and Brecon Famiers Ffrwdgrech Industrial Estate Brecon Powys Accountants WJJames&Co Chartered Accountanls Bishop House l O Wheat Street BTecon Powys Banker5 Barclays Bank PLC Leicester OBJECTS OF CHARITY The objects of Brecknock Federalion of YFC (CIO) are: . a) To advance the education and pe￿onal development of young members of the public at large in agriculture, rural life and affairs, international understanding, home crafts, the environment, and related subjects. b) In the interests of the social welfare of such members, to provide and promote the provision of facililies for recrcation and other leisure time occupations, being facilities, which ivill improve their spiritual and mental capacities, health, and well-being, raise awareness, self-reliance and individual responsibility so that they may develop as individuals into ￿11 citizens. c) To promote its activities through the mediums of English and welsli and to ensure those activities enhance the members, understanding and knowledge of Welsh rural life, welsh culture and the welsh language, along wilh providing an understanding of other cultures. ACTivrriES AND ACHIEVEMENTS Brecknock Federation hosts a widc range of activities designed to improve members knowledge of agriculture, rural affairs and life skills. It holds training and competitions across all these themes including public speaking, lamb trimming and hedging. The majority of the competition events are open to ihe general public as spectators including a weeklong drama festival, eisteddfod, public speaking day, the Annual Rally and many more. BRECKNOCK FEDERATIO]Y OF YFC (CIO) TRUSTEES, REPORT (continued) for the year ending 31 August 2024 The focus on rurnl affairs has included several farni visits and trips to events such as the Balmoral Highland Show. Clubs have hosted discussions such as the future of agriculture and environmental impact, mental health in rnral setlings. Training sessions for members to access have included Food Hygiene, Business VAT, safeguarding and training for being a committee member. Both Ihc Federalion and its constituenl clubs make a significant contribution to the local conllnunities. many clubs bcing integral parts of their local agricultural shows, putting on community events such as Christmas Tractor Runs and many other social cvenls. The federation supports OTganisations such as the Breconshire Agricultural Society. PUBLIC BENEFIT In planning ihe Charities aclivities for the 2023/24 year we kept in mind tl)e Charity Commission's guidance on publRc benefit at our regular trustees, meetings (executive committee)- RESERVES POLICY The main financial risks to the charity are ihe loss of ihe long-terni thnding from th¢ County Council and losing our rent-fTee office facilities. Thcrc is also a risk from reduccd income from grants and other donations. Thc trustees, have a reserve policy to maintain funds at a level to cover over 12 tnonths of operational costs, as a minimum, in the event of a loss of income and to mcet any unforeseen expendilure that may occur. Funding awarded for specific pU￿oseS are maintained in the accounts as restricted re5C￿¢S for usc for the purpose of the grant / gift / fvnding. CuTrently the Federation does not hold any sp¢cific reserves in its accounts in respect of areas such as repairs and renewals etc. BRECKNOCK FEDERATION OF YFC (CIO) TRUSTEES, REPORT {continued) for the year ending 31 August 2024 STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees are responsible for Preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accept Accounting Practice). The law applicable to charities in England and Wales Tcquires the trustces to prepare financial statements for each fInancial year which give a true and fair view of ihe stale of affairs of the charity and of the incoming resour¢¢s and application of resources of ihe charity for thai period. In preparing thcse financial statements, the trustees are requircd to: select suitable accounting policies and apply them consistently> observe the methods and principles in the Charities SORP 2019" make judgements and estimates that are reasonable and prudent. state whether applicable accounting standards hav¢ been followed, subj¢ct to any material departures disclosed and explained in the financial statements" prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees arc responsible for keeping accounting records that disclose with reasonable accuracy at any time the financial position of ihe charity and enable them to ensure that the financial statemenls comply with the Charities Act 2011, the Charity (Accounts Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for Ihe prevcntion and detection of fraud and Oth￿ irregularities. Signed on behalf of the Trustees Dated:.... 1.10./.202 Mr RyAn Watkins BRECKNOCK FEDERATION OF YFC (CIO) JNDEPENDENT EXAMINERS REPORT to the Trustees of Brecknock Federation of YFC (CIO) I report lo the charity Iruslces on my examination of the accounts of the charity for the year cnded 31 August 2023 which are set out on pages 7 to 16 Responsibilities and basis of report As the charity's truslees you are responsible for the preparation of the accounts in accordance with ihe requirements of the Charities Acl 2011 ('the Acl""). I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in canying out my examination I have followed all the applicable directions given by the Charity Commission under section 145{5){b) of ihe Act. Independent examiner's statement I have completed my examination. I confirni that no material mallers have come to my atlenlion in connection with tlie examination giving me cause to believe that in any material respect.. accounling records were not kept in respect of the charity as required by seclion 130 of the Act" or 2. the accounts do not accord with thosc records. or 3. the accounls do not cornply with the applicable requirements concerning the forni and content of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and view, which is not a matter considered as part of an iiidependent examination. I have no concerns and havc conie across no other matlers in connection with Ihc cxaminalion lo which attentlon should be drawn in this report in order to enable a proper understsnding of the accounts to be reached. J M Roderick Bsc, ACA WJJames&Co Chartered Accountant l O Wheat Strecl B Tecon BRECKNOCK FEDERATION OF YFC (CIO) RECEIPTS AND PAYMENTS ACCOUNT for tbe year ending 31 August 2024 Total funds 2024 Total funds 2023 Unrestricted Restricted funds funds Note INCOMING RECEIPTS Drama festival Club levies Rally Federation events Donations and collections 200 Club donation Raffles Grants Club supplies Advertising and sponsorship Catering Printing Men]bers contribution to training Interest received Brecknock Beacon Event income received on behalf of Ystradfellte YFC 14,963 19,627 26,233 10,905 6,619 2,961 255 7,500 328 2,274 1,544 61 45 6,629 979 14,963 19,627 26,233 10,905 6,619 2,961 255 10,444 328 2,274 1,544 61 45 6,629 979 18,219 8,564 18,236 29,840 5.962 5,650 97 20,466 591 1,015 1,079 163 225 3,586 150 2,944 7,076 7,076 TOTAL INCOMING RF.CEIPTS 107,999 2,944 110,943 J 13,843 RESOURCES EXPENDED Drama festival Club levies Rally Federation events Catering Donations Brecknock Beacon Wages Pension Training Repairs and renewals Printing, postage and stationcry Telephone Website Accountancy Income reimbursed to Yslradfellte YFC from event held 5,087 17,454 15,969 15,026 923 11,105 1,635 41,653 860 252 239 3,296 1,072 241 1,469 3,126 8,213 17,454 15,981 18,952 923 11,305 1,635 41,653 860 252 1,438 3,296 1,072 241 1,469 11,286 15,567 13,211 34,058 1,045 3,466 885 37,499 1,841 2,1&6 183 1,918 841 232 1,263 12 3,926 200 1,199 7,076 7,076 TOTAL RESOURCES EXPENDED 123,357 8,463 131,820 125,461 BRECKNOCK FEDERATION OF YFC (CIO) RECEIPTS AND PAYMENTS ACCOUINT (Continued) for tbe year ending 31 August 2024 Total funds 2024 Total funds 2023 Unrestricted Restricted funds funds Note IYET MOVEMENTS IN YEAR BEFORF TRANSFERS (15J58) (5,519) (20,877) (Jl,618) Transfers 14 IYET MOVEMENT IN YEAR AFTER TRANSFERS (15,358) (5,519) (20,877) (11,618) Balances brou¥hi fonvard at I Scptcmber 2023 250,834 53,609 304,443 316,061 Balances carried fonvard at 31 August 2024 235,476 48,090 283,566 304,443 BRECKNOCK FEDERATION OF YFC (CIO) STATLMENT Ob ASSFTS AND LIABILITIES as at 31 August 2024 Notes 2024 2023 BANK BALANCES Barclays Community Account Barclays Youih Forum Account CAF Account Redwood Bank Hampshire Trusi Bank Monmouthshire Building Society Petty Cash Cambridge and Counties Bank 96,067 18,445 3,484 76,398 63,147 71,843 71.096 30 29,306 73,163 30 85,000 TOTAL BANK BALANCES 283,566 304,443 OTHER ASSETS Debtors 10 4,943 554 LIABJLITIES Creditors 2,225 2,377 Signed on behalf of tbe Trustees /1012 02 Mr Ryan Watkins BRECKNOCK FEDERATION OF YFC {CJO) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 August 2024 RALLY Total funds 2024 Tolal funds 2023 Unrestricted funds Restricted funds Rally income Tenders Rally sponsorship Rally donations 12,058 9,000 3.315 1,860 12,058 9,000 3,315 1,860 11,606 4,200 2,430 26,233 26,233 18,236 FEDERATION EVENTS Total funds 2024 Total funds 2023 Unrestricted funds Restricted funds Admission and event receipts Cliairnian's Evenl Wales YFC Competition revenue 6,907 326 672 3,000 6,907 326 672 3,000 22,615 5,844 411 970 10.905 10,905 29,840 10 BRECKNOCK FEDERATION OF YFC ICIO) NOTES TO THE FINANCIAL STATEMENTS (Continued) for the year ended 31 August 2024 GRANTS Total funds 2024 TotAI funds 2023 Unrestrieted funds Restricted funds Welsh Language Powys County Council Recovery Grant Rural Youth Trust Powys County Council Menlal Health Welsh Water Fund Rural Touth Trust 1,444 1,444 7,500 581 12,500 3,635 1,500 2,000 250 7,500 1,500 1,500 7,500 2,944 10,444 20,466 CLUB SUPPLIES Total funds 2024 Total funds 2023 Unrestricted funds Restricted funds Club / County tops DBS Checks Membership Cards 64 234 30 64 234 30 386 205 328 328 591 ADVERTISING AND SPONSORSHIP Total funds 2024 Total funds 2023 Unrestricted funds Restricted funds Sponsorships 2,274 2,274 1,015 2,274 2,274 1,015 BRECKNOCK FEDERATION OF YFC {CIO) NOTES TO THb FINANCIAL STATEMENTS (Continued) for the year ended 31 August 2024 RALLY EXPENSES TotAI funds 2024 Totfdl funds 2023 Unrestricted Restricted funds Rally event expenses 15,969 12 15,981 13,211 15,969 12 15,981 13,211 FEDERATJON EVENT EXPENSES Total funds 2024 Total funds 2023 Unrestricted funds Restricted funds Compdition expenses Event expenses Trips Engraving DBS Checks Sundry Travel Vera Jones Bursery Club & county tops Subscriptions Wales YFC Expenses Summer of fun grant expenses PCC Mental health grant Fines Youth Forum Expenses 3,858 1,621 6,270 613 317 71 1,035 1,085 386 J,907 4,943 2,007 8,177 613 317 71 1,035 250 299 176 578 2,776 10,027 13,785 666 278 62 1,179 250 1,630 96 492 2,430 250 299 176 578 298 298 25 163 25 163 387 15,026 3,926 18,952 34,058 12 BRECKNOCK FEDERATION OF YFC (CIO) NOTES TO THE TrINANCJAI. STAI"EMENTS (Continued) for the year ended 31 August 2024 RESTIUCTED FUNDS Balance brought fonvard asat I September 2023 Balance carried fonvard asat 31 August Transfers 2024 Receipts Payments Vera Jones Bursary fvnd Trust Fund Welsh Drama Fund Welsh Language grant Audrey Tyler trust Pavo Mental Health Grant Awards for all - Queens Jubilee Rural Youth Trust Powys County Council - Mental Health Rural Youth Trust - Rural affairs 1,550 34,789 6,458 5,875 250 1,300 34,789 5,419 4,593 1,039 2,726 1,444 1,272 1,211 61 165 1,500 165 249 1,251 2,000 779 1,221 1,500 1,207 293 53,609 2,944 8,463 48,090 Thc Vera Jones Bursary Fund is for Community projects. Clubs apply to thc fund, and a panel selects the best project and that club receive £1 00. Tl)e Trust fund is held for training and development work relating to the Federation's objectives and for the purpose of funding any substantial purchases of the Federation in carrying out its objects. Both presently and al any time in the fulure, in order to continue and extend the work of the Federation. The Welsh Drama Fund includes money gcncrated from the Welsh drama and language project and includcd £5,000 received from Powys County Council spectfically foT the dcvelopment of the Welsh language and culture work in the County. The Welsh Language grani has been received to promote thc use of the Welsh language. 13 BRECKNOCK FEDERATION OF YFC (CIO) NOTES TO THE FINANCIAL STATEMEIYTS (Continued) for the year ended 31 August 2024 8. RESTRICTED FUNDS (continued...) PAVO Male Mental Health for a sum of £2,000. Funds to support open session for male members within the community. Awards for all - Queen" s Jubilee. Funds to plant trees within the community and mark the jubilee celebrations. Rural Youth Tnist for a sum of £1,500 was received. Funds to support Team Building and training session for club and county officials, Mental Health, and First Aid Training. Powys Counly Council -Male Mental Hcalth. Funds to support activities and discussions for male members. Rural Youth Trust - Rural Affairs. Funds to support rural affairs trips and discussions. 14 BRECKNOCK FEDERATION OF YFC (CIO) NOTES TO THE FINANCIAL STATEMENTS (Continued) for tbe year ended 31 August 2024 DESIGNATED FUNDS Held within r¢stricted funds is designated funds of £3,320 which related lo money held for the Youth Forum. 10. FIXED ASSETS Fixcd assets are written off in the year of purchase. DEBTORS As at 31 August 2024, there are debtors tot