2025-08-31-accounts - Cyfle Building Skills Limited

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REGISTERED COMPANY NUMBER: 08601303 (England and Wales) REGISTERED CHARITY NUMBER: 1170264

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

FOR CYFLE BUILDING SKILLS LTD

Bevan Buckland LLP Chartered Accountants And Statutory Auditors Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA

CYFLE BUILDING SKILLS LTD

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

		Page
Report of the Trustees	1	to	3
Report of the Independent Auditors	4	to	6
Statement of Financial Activities		7
Balance Sheet		8
Cash Flow Statement		9
Notes to the Cash Flow Statement		10
Notes to the Financial Statements	11	to	16
Detailed Statement of Financial Activities		17

CYFLE BUILDING SKILLS LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2023. The trustees have adopted the provisions of 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

Objectives and aims

On 18 November 2016, the company obtained charitable status. Our main activities are to advance, develop and promote the educations of persons through Wales and England by way of the provision of apprenticeship schemes and training opportunities in relation to construction and/ or related occupations which may relate to the built environment as the Charity's trustees think fit.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

Cyfle Building Skills Ltd has received many accolades which illustrates the success of the apprenticeship scheme. Such recognitions include The Princess Royal Award for Outstanding Training and Skills Development and also the Princess Royal Award for Quality, Diversity and Inclusion in the Workplace.

The charity is the recipient of two Queen's Awards for Enterprise - Promoting Opportunity and Social Mobility. The charity has developed and is currently delivering a Mentoring in the Workplace project.

Cyfle Building Skills Ltd has diversified its operation with the Regional South West Wales Onsite Construction Hub. This innovative scheme, in collaboration with the Construction Industry Training Board's (CITB) Onsite Experience Commission, offers site experience, training opportunities and mentoring to candidates considering a career in construction.

The delivery of the South West Wales Onsite Construction Hub and a new Low Carbon Awareness Training scheme takes place across five local authority areas within the region and is designed to help tackle the skills gap within the construction industry.

Cyfle Building Skills Ltd attributes its success and increase in profitability to the diversity of the organisation and its ongoing commitment to invest in the community we serve.

FINANCIAL REVIEW

Reserves policy

Reserves policy The Board has set out the charity’s reserve policy to enable trustees to be in proper financial control of the organisation and meet its legal obligations.

The Board has set the reserves policy to ensure there are enough funds to cover designated closure costs, which include staff redundancy costs and any outstanding amounts owing at the year end.

The surplus for the year was £41,515 (2022: £261,982), which has resulted in free reserves at 31 August 2023 of £616,555 (2022: £575,040).

Going concern

The charity is reliant on contributions from employers and a significant drop would make going concern an issue.

FUTURE PLANS

The Charity aims to continue to offer the full range of services it currently delivers.

Cyfle Building Skills Ltd has invested in developing new training initiatives during the year and is currently in the process of developing and delivering a Low Carbon Awareness course in conjunction with the Skills and Talent project supported by Swansea Bay City Deal.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure the appropriate controls are in place to provide reasonable assurance against fraud and error.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Page 1

CYFLE BUILDING SKILLS LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT

Recruitment and appointment of new trustees

The appointment of a new trustee is an important matter. Before appointing a new trustee, the trustee board must make sure that it is acting within the law, in accordance with the charity's governing document, and that the prospective trustee is not disqualified from being a trustee. The trustees must first ensure that the prospective trustee is permitted to be a trustee. This will include being of age (at least 16 years old), not being disqualified under the Charities Act 2011, being a fit and proper person, and being able to work with children and vulnerable adults.

A trustee shall cease to hold office if they become disqualified, decide to retire or the board decides to remove a trustee for a specific reason. The removal of a trustee by the board can only take place if the board has a good reason to remove the trustee,

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

08601303 (England and Wales)

Registered Charity number

1170264

Registered office

Ammanford Campus Dyffryn Road Ammanford Carmarthenshire SA18 3TA

Trustees

W G John Company Director K H Pearson Company Director W J Davies Director O H Jones Director A R Thomas Director D V Jones Company Director

Company Secretary

O H Jones

Auditors

Bevan Buckland LLP Chartered Accountants And Statutory Auditors Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Cyfle Building Skills Ltd for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charity SORP;
make judgements and estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

Page 2

CYFLE BUILDING SKILLS LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2023

STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued

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

In so far as the trustees are aware:

there is no relevant audit information of which the charitable company's auditors are unaware; and
the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

AUDITORS

The auditors, Bevan Buckland LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

........................................................................ O H Jones - Trustee

Page 3

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CYFLE BUILDING SKILLS LTD

Opinion

We have audited the financial statements of Cyfle Building Skills Ltd (the 'charitable company') for the year ended 31 August 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. 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).

In our opinion the financial statements:

give a true and fair view of the state of the charitable company's affairs as at 31 August 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Report of the Trustees has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of trustees' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the trustees were not entitled to take advantage of the small companies exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.

Page 4

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CYFLE BUILDING SKILLS LTD

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Extent to which the audit was considered capable of detecting irregularities, including fraud

We identify and assess the risks of material misstatement of the Financial Statements, whether due to fraud or error, and then, design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

We discussed our audit independence complying with the Revised Ethical Standard 2019 with the engagement team members whilst planning the audit and continually monitored our independence throughout the process.

Identifying and assessing potential risks related to irregularities.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

enquiring of management, including obtaining and reviewing supporting documentation, concerning the Charity's policies and procedures relating to:
identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;
detecting and responding to the risks of fraud and whether they have knowledge of any actual. suspected or alleged fraud;
the internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations;
discussing among the engagement team how and where fraud might occur in the financial statements and any potential indicators of fraud.
obtaining an understanding of the legal and regulatory frameworks that the Charity operates in, focusing on those laws and regulations that had a direct effect on the financial statements or that had a fundamental effect on the operations of the Charity, The key laws and regulations we considered in this context included the UK Companies Act and relevant tax legislation.

Audit response to risks identified

In addition to the above, our procedures to respond to risks identified included the following:

reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with relevant laws and regulations;
enquiring of management concerning actual and potential litigation and claims; performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
- reading minutes of meetings of those charged with governance;
in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments;
assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and
- evaluating the operational rationale of any significant transactions that are unusual or outside the normal course of operations.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF CYFLE BUILDING SKILLS LTD

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Llinos Williams (Senior Statutory Auditor) for and on behalf of Bevan Buckland LLP Chartered Accountants And Statutory Auditors Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA Date: .............................................

Page 6

CYFLE BUILDING SKILLS LTD

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2023

Notes INCOME AND ENDOWMENTS FROM Donations and legacies 2 Charitable activities 3 Charitable activities Total EXPENDITURE ON Charitable activities 4 Charitable activities NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD	Unrestricted funds £ 695,347 1,588,535 2,283,882 2,242,367 41,515 575,040 616,555	Restricted funds £ - - - - - - -	2023 Total funds £ 695,347 1,588,535 2,283,882 2,242,367 41,515 575,040 616,555	2022 Total funds £ 522,519 1,366,842
				1,889,361
				1,627,379
				261,982 313,058
				575,040

The notes form part of these financial statements

Page 7

CYFLE BUILDING SKILLS LTD

BALANCE SHEET 31 AUGUST 2023

Unrestricted funds Notes £ FIXED ASSETS Tangible assets 10 13,437 CURRENT ASSETS Debtors 11 144,991 Cash at bank 531,393 676,384 CREDITORS Amounts falling due within one year 12 (73,266) NET CURRENT ASSETS 603,118 TOTAL ASSETS LESS CURRENT LIABILITIES 616,555 NET ASSETS 616,555 FUNDS 13 Unrestricted funds TOTAL FUNDS	Restricted funds £ - - - - - - - -	2023 Total funds £ 13,437 144,991 531,393 676,384 (73,266) 603,118 616,555 616,555 616,555 616,555	2022 Total funds £ 19,473 73,171 534,304 607,475 (51,908) 555,567 575,040 575,040 575,040 575,040

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

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

.............................................

O H Jones - Trustee

The notes form part of these financial statements

Page 8

CYFLE BUILDING SKILLS LTD

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2023

		2023	2022
	Notes	£	£
Cash flows from operating activities
Cash generated from operations	1	(2,911)	231,038
Net cash (used in)/provided by operating activities		(2,911)	231,038
Cash flows from investing activities
Purchase of tangible fixed assets		-	(13,149)
Net cash provided by/(used in) investing activities		-	(13,149)

Change in cash and cash equivalents in
the reporting period		(2,911)	217,889
Cash and cash equivalents at the
beginning of the reporting period		534,304	316,415
Cash and cash equivalents at the end of
the reporting period		531,393	534,304

The notes form part of these financial statements

Page 9

CYFLE BUILDING SKILLS LTD

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2023

1.	RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING	RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING	ACTIVITIES
			2023	2022
			£	£
	Net income for the reporting period (as per the Statement of Financial
	Activities)		41,515	261,982
	Adjustments for:
	Depreciation charges		6,036	3,297
	Increase in debtors		(71,820)	(40,952)
	Increase in creditors		21,358	6,711
	Net cash (used in)/provided by operations		(2,911)	231,038
2.	ANALYSIS OF CHANGES IN NET FUNDS
		At 1.9.22	Cash flow	At 31.8.23
		£	£	£
	Net cash
	Cash at bank and in hand	534,304	(2,911)	531,393
		534,304	(2,911)	531,393
	Total	534,304	(2,911)	531,393

The notes form part of these financial statements

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CYFLE BUILDING SKILLS LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS102) (effective 1 January 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The charity is a private company limited by guarantee without share capital and is incorporated in England and Wales. The registered office is Ammanford Campus, Dyffryn Road, Ammanford, Carmarthenshire, SA18 3TA

Going Concern

The trustee consider that there are no material uncertainties about the charity's ability to continue as a going concern.

Presentational and functional currency

The presentational and functional currency is £ sterling.

Significant accounting judgements and key sources of estimation uncertainty

Preparation of the accounts requires the Trustees and management to make significant judgements and estimates.

This includes determining the value of designated funds needed at the year end to meet specific future expenditure.

Income

Grant income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Contribution income is recognised in the Statement of Financial Activities once the charity has received confirmation that a contribution will be received from the provider and the amount of income that will be received.

Other income is recognised in the Statement of Financial Activities in the period it is receivable and to the extent the Charity has provided the services.

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 a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Allocation and apportionment of costs

Costs have been allocated as far as possible between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly. Others have been apportioned based on the estimated usage of the resource.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Motor vehicles - 25% on cost Computer equipment - 33% on cost

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

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CYFLE BUILDING SKILLS LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023

1. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Debtors

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

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions are recognised where the company has a present obligation (legal and constructive) resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Financial instruments

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

Employee benefits

The Charity provides a range of benefits to employees, including annual bonus arrangements, paid holiday arrangements and defined benefit and defined contribution pension plans.

Short term benefits

Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which the service is received.

2. DONATIONS AND LEGACIES

3.

Contributions INCOME FROM CHARITABLE ACTIVITIES Activity Other income Charitable activities On Site Hub Charitable activities Employer Network Charitable activities Grants Charitable activities Grants received, included in the above, are as follows: CITB Grant YRP Grant Other Grants Furlough Claims Welsh Government - Consortium Welsh Government - FE Work Experience

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CYFLE BUILDING SKILLS LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023

4. CHARITABLE ACTIVITIES COSTS

5.

6.

Charitable activities SUPPORT COSTS Charitable activities NET INCOME/(EXPENDITURE) Net income/(expenditure) is stated after charging/(crediting): Depreciation - owned assets	Direct Costs £ 1,616,630 Management £ 615,725		Support costs (see note 5) £ 625,737 Finance £ 10,012 2023 £ 6,036	Totals £ 2,242,367	Totals £ 2,242,367
					Totals £ 625,737
					2022 £ 3,297

7. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 August 2023 nor for the year ended 31 August 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 August 2023 nor for the year ended 31 August 2022.

8. STAFF COSTS

2023 £ Wages and salaries 1,468,545 Other pension costs 40,023 1,508,568 Total cost in relation to Key Management Personnel during the year was £64,967 (2022: £57,478). The average monthly number of employees during the year was as follows:	2022 £ 1,254,385 26,975
	1,281,360

Employees No employees received emoluments in excess of £60,000.	2023 102	2022 97

9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities Charitable activities Total	Unrestricted funds £ 522,519 1,366,842 1,889,361	Restricted funds £ - - -	Total funds £ 522,519 1,366,842
			1,889,361

EXPENDITURE ON

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CYFLE BUILDING SKILLS LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023

9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted funds £ Charitable activities Charitable activities 1,627,379 NET INCOME 261,982 RECONCILIATION OF FUNDS Total funds brought forward 313,058 TOTAL FUNDS CARRIED FORWARD 575,040 10. TANGIBLE FIXED ASSETS Motor vehicles £ COST At 1 September 2022 and 31 August 2023 24,144 DEPRECIATION At 1 September 2022 4,671 Charge for year 6,036 At 31 August 2023 10,707 NET BOOK VALUE At 31 August 2023 13,437 At 31 August 2022 19,473 11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Social security and other taxes Other creditors Accrued expenses	9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted funds £ Charitable activities Charitable activities 1,627,379 NET INCOME 261,982 RECONCILIATION OF FUNDS Total funds brought forward 313,058 TOTAL FUNDS CARRIED FORWARD 575,040 10. TANGIBLE FIXED ASSETS Motor vehicles £ COST At 1 September 2022 and 31 August 2023 24,144 DEPRECIATION At 1 September 2022 4,671 Charge for year 6,036 At 31 August 2023 10,707 NET BOOK VALUE At 31 August 2023 13,437 At 31 August 2022 19,473 11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other debtors 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Social security and other taxes Other creditors Accrued expenses	Restricted funds £ - - - - Computer equipment £ 5,293 5,293 - 5,293 - - 2023 £ 144,991 2023 £ 11,189 6,726 55,351 73,266		Total funds £ 1,627,379	Total funds £ 1,627,379
					261,982 313,058
					575,040
					Totals £ 29,437 9,964 6,036 16,000 13,437 19,473 2022 £ 73,171 2022 £ 9,883 5,054 36,971 51,908

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CYFLE BUILDING SKILLS LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023

13. MOVEMENT IN FUNDS

At 1.9.22 £ Unrestricted funds General fund 500,040 Designated closure costs 75,000 575,040 TOTAL FUNDS 575,040 Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS	Net movement in funds £ 41,515 - 41,515 41,515 Incoming resources £ 2,283,882 2,283,882	Transfers between funds £ (25,000) 25,000 - - Resources expended £ (2,242,367) (2,242,367)	At 31.8.23 £ 516,555 100,000 616,555 616,555 Movement in funds £ 41,515	At 31.8.23 £ 516,555 100,000
				616,555
				616,555
			41,515

Comparatives for movement in funds

Unrestricted funds General fund Designated closure costs TOTAL FUNDS Comparative net movement in funds, included in the Unrestricted funds General fund TOTAL FUNDS	Net movement At 1.9.21 in funds £ £ 313,058 261,982 - - 313,058 261,982 313,058 261,982 above are as follows: Incoming resources £ 1,889,361 1,889,361	Transfers between funds £ (75,000) 75,000 - - Resources expended £ (1,627,379) (1,627,379)	At 31.8.22 £ 500,040 75,000 575,040 575,040 Movement in funds £ 261,982	At 31.8.22 £ 500,040 75,000
				575,040
				575,040
			261,982

Unrestricted funds

Unrestricted funds can be deployed in any way the charity sees fit, apart from designated reserves which are set aside for a specific purpose.

Designated closure costs

Designated closure costs are made up as follows:

		£
Redundancy allowance for staff		60,000
Other debtor allowances		20,000
Reduction in funding from Welsh Government		90,000
Total	170,000

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CYFLE BUILDING SKILLS LTD

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2023

14. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31st August 2023. Some of the trustees are also directors of companies and apprentices from Cyfle Building Skills Ltd work on their projects. The companies make regular donations similar to other organisations and are no way given any special terms or treatments.

15. ULTIMATE CONTROLLING PARTY

The Charity is controlled by its trustees.

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CYFLE BUILDING SKILLS LTD

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2023

INCOME AND ENDOWMENTS Donations and legacies Contributions Charitable activities Other income On Site Hub Employer Network Grants Total incoming resources EXPENDITURE Charitable activities Apprentice wages Work experience Apprentice equipment Apprentice travel Apprentice training Vehicle costs On Site Hub Net carbon zero Employer Network Support costs Management Wages Pensions Insurance Travelling Telephone Office expenses Meeting and events Sundries Counsellor/Community Schemes Donations Motor vehicles Finance Consultancy Accountancy Bank charges Total resources expended Net income	2023 £ 695,347 175,234 459,508 394,358 559,435 1,588,535 2,283,882 971,767 100 1,209 68,062 1,737 3,958 219,356 - 350,441 1,616,630 496,778 40,023 4,084 17,332 5,752 30,035 11,256 525 974 2,930 6,036 615,725 2,067 7,821 124 10,012 2,242,367 41,515	2022 £ 522,519 229,021 413,837 22,975 701,009
		1,366,842
		1,889,361 791,148 9,194 119 55,102 1,226 5,672 178,618 15,000 -
		1,056,079 463,237 26,975 3,649 13,316 5,192 21,909 4,778 295 16,700 1,600 3,297
		560,948 3,231 6,976 145
		10,352
		1,627,379
		261,982

This page does not form part of the statutory financial statements

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