Afan Valley Community Leisure
Charity No. 1170763
Company No. 09756505
Trustees' Report and Unaudited Accounts
30 September 2023
Afan Valley Community Leisure Contents
| Pages | ||
|---|---|---|
| Trustees' Annual Report | 2 to 4 | |
| Independent Examiner's Report | 5 | |
| Statement of Financial Activities | 6 | |
| Summary Income and Expenditure Account | 7 | |
| Balance Sheet | 8 | |
| Notes to the Accounts | 9 to | 14 |
| Detailed Statement of Financial Activities | 15 to | 16 |
Page 1
Afan Valley Community Leisure Trustees Annual Report
The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the unaudited financial statements of the charity for the year ended 30 September 2023.
REFERENCE AND ADMINISTRATIVE DETAILS
Company No. 09756505
Charity No. 1170763
Principal Office
Afan Valley Swimming Pool School Road Port Talbot SA13 3EL
Registered Office
Afan Valley Swimming Pool School Road Port Talbot SA13 3EL
Directors and Trustees
The Directors of the charitable company are its Trustees for the purposes of charity law. The following Directors and Trustees served during the year:
N.J. Davies S.M. Johnson R. Jones S. Jones W.A.G. Jones R.T. Lewis G.J. Parker H. Phillips
==> picture [298 x 133] intentionally omitted <==
Accountants
Robert Cole & Co Office 2 Llynfi Ent. Centre Heol Ty Gwyn Ind. Estate Maesteg CF34 0BQ
Bankers
TSB Bank Plc Talbot Street Maesteg CF34 9BS
Page 2
Afan Valley Community Leisure Trustees Annual Report
Solicitors
Jestyn Jeffreys Castle Buildings 23 Church Place Neath SA11 3LP
OBJECTIVES AND ACTIVITIES
The objects for which the charity is established, as set out in its governing document, are: To promote for the benefit of the inhabitants of the Upper Afan Valley and the surrounding area the provision of facilities for wellbeing, self-improvement, 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, primarily but not exclusively through the provision of a swimming pool and associated facilities.
The main activities undertaken in relation to those purposes during the year: The Charity has been established to subsidise the running of the Afan Valley Swimming Pool which has been transferred from the ownership of Neath Port Talbot County Borough Council to Neath Port Talbot College Group (Llandarcy Park Ltd). The purpose of the company is to raise funds and promote the use of the facility so that the pool can remain open.
The main activities undertaken to further the charity's purposes for the public benefit: The trustees have had regard to the Charity Commission's guidance on public benefit in managing the activities of the charity. The Charity supports a number of projects for the benefit of the inhabitants of the Upper Afan Valley, and some of the benefits of these projects are detailed below.
ACHIEVEMENTS AND PERFORMANCE
The Charity raised over £34,900 in the UK which was used in support of our projects. The activities of the Charity during the year has enabled the Afan Valley Swimming Pool to remain open for the benefit of the inhabitants of the local, and surrounding, community. Without the support of this Charity these leisure facilities would have been lost.
FINANCIAL REVIEW
The trustees consider the financial performance by the charity during the year to have been satisfactory and appropriate to the objects of the charity.
Restricted reserves are maintained for expenditure, at the discretion of the trustees, on such projects that further the objectives and activities of the charity.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity is constituted as a company limited by guarantee, registered under the Companies Acts. The governing document of the charity is the Memorandum & Articles of Association establishing the company under company legislation. The governing document is dated 27 August 2015, and there are no restrictions therein on the operation of the charity or on its borrowing powers other than those imposed by law.
The trustees seek to appoint additional trustees whenever necessary in line with the process outlines in the company's articles. Potential trustees are provided with all relevant guides from the Charity Commission before any appointment. The trustees are all individuals and no trustee has any beneficial interest in the charity.
Page 3
Afan Valley Community Leisure Trustees Annual Report
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
Signed on behalf of the board
N.J. Davies Trustee 26 June 2024
Page 4
Afan Valley Community Leisure Independent Examiners Report
Independent Examiner's Report to the trustees of Afan Valley Community Leisure
I report to the charity trustees on my examination of the financial statements of Afan Valley Community Leisure for the year ended 30 September 2023 which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, the Balance Sheet and the related notes.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that:
-
accounting records were not kept in accordance with section 386 of the 2006 Act ; or
-
the financial statements do not accord with those records; or
-
the financial statements do not comply with the accounting requirements under section 396 of the 2006 Act other than any requirement that the financial statements give a 'true and fair' view which is not a matter considered as part of an independent examination; or
-
the financial statements have not been prepared in accordance with the Charities SORP (FRS 102).
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.
Robert Roger Cole Association of Chartered Certified Accountants Robert Cole & Co Office 2 Llynfi Ent. Centre Heol Ty Gwyn Ind. Estate Maesteg
CF34 0BQ 26 June 2024
Page 5
Afan Valley Community Leisure Statement of Financial Activities
for the year ended 30 September 2023
| Notes Income and endowments from: Donations and legacies 4 Total Expenditure on: Charitable activities 5 Other 6 Total Net gains on investments Net expenditure Transfers between funds Net expenditure before other gains/(losses) Other gains and losses Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2023 £ 2,123 |
Restricted funds 2023 £ 32,843 |
Total funds 2023 £ 34,966 |
Total funds 2022 £ 93,746 |
|---|---|---|---|---|
| 2,123 - 1,263 |
32,843 55,000 - |
34,966 55,000 1,263 |
93,746 125,000 1,101 |
|
| 1,263 - |
55,000 - |
56,263 - |
126,101 - |
|
| 860 (4,178) |
(22,157) 4,178 |
(21,297) - |
(32,355) - |
|
| (3,318) | (17,979) | (21,297) | (32,355) | |
| (3,318) 5,597 |
(17,979) 17,979 |
(21,297) 23,576 |
(32,355) 55,931 |
|
| 2,279 | - | 2,279 | 23,576 |
Page 6
Afan Valley Community Leisure Summary Income and Expenditure Account
for the year ended 30 September 2023
| Income Gross income for the year Expenditure Total expenditure for the year Net expenditure before tax for the year Net expenditure for the year |
2023 £ 34,966 34,966 56,263 56,263 (21,297) (21,297) |
2022 £ 93,746 |
|---|---|---|
| 93,746 | ||
| 126,101 | ||
| 126,101 | ||
| (32,355) | ||
| (32,355) |
Page 7
Afan Valley Community Leisure Balance Sheet
at 30 September 2023
| Company No. 09756505 Notes 2023 £ Current assets Cash at bank and in hand 3,239 3,239 Creditors:Amount falling due within one year 8 (960) Net current assets 2,279 Total assets less current liabilities 2,279 Net assets excluding pension asset or liability 2,279 Total net assets 2,279 The funds of the charity Restricted funds 9 Restricted income funds - - Unrestricted funds 9 Designated funds 2,279 2,279 Reserves 9 Total funds 2,279 |
2022 £ 24,536 |
|---|---|
| 24,536 (960) |
|
| 23,576 23,576 |
|
| 23,576 | |
| 23,576 | |
| 17,979 | |
| 17,979 5,597 |
|
| 5,597 | |
| 23,576 |
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
For the year ended 30 September 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
Approved by the board on 26 June 2024
And signed on its behalf by:
G.J. Parker Trustee 26 June 2024
Page 8
Afan Valley Community Leisure Notes to the Accounts
for the year ended 30 September 2023
- 1 Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Basis of preparation, significant judgements & estimates
The financial statements are presented in Sterling which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £1. The significant accounting policies applied in the application of these financial statements are set put below. These policies have been consistently applied to all years presented unless otherwise stated. No significant judgements have had to be made by the trustees in preparing these financial statements. The trustees are not aware of any material uncertainties about the charities ability to continue as a going concern.
Change in basis of accounting or to previous accounts
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
Fund accounting
Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. Designated funds These are unrestricted funds earmarked by the trustees for particular purposes. Revaluation funds These are unrestricted funds which include a revaluation reserve representing the restatement of investment assets at their market values. Restricted funds These are available for use subject to restrictions imposed by the donor or through terms of an appeal.
Page 9
Afan Valley Community Leisure Notes to the Accounts
Income
-
Recognition of Income is included in the Statement of Financial Activities (SoFA) when the charity income becomes entitled to, and virtually certain to receive, the income and the amount of the income can be measured with sufficient reliability.
-
Income with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SoFA. Donations and Voluntary income received by way of grants, donations and gifts is included in the legacies the SoFA when receivable and only when the Charity has unconditional entitlement to the income.
-
Tax reclaims on Income from tax reclaims is included in the SoFA at the same time as the donations and gifts gift/donation to which it relates. Donated services These are only included in income (with an equivalent amount in expenditure) and facilities where the benefit to the Charity is reasonably quantifiable, measurable and material.
-
Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gains/(losses) on This includes any gain or loss resulting from revaluing investments to market value revaluation of fixed at the end of the year. assets Gains/(losses) on This includes any gain or loss on the sale of investments. investment assets
Expenditure
-
Recognition of Expenditure is recognised on an accruals basis. Expenditure includes any VAT expenditure which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
-
Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable activities services in the furtherance of its objects, including the making of grants and governance costs.
-
Grants payable All grant expenditure is accounted for on an actual paid basis plus an accrual for grants that have been approved by the trustees at the end of the year but not yet paid.
-
Governance costs These include those costs associated with meeting the constitutional and statutory requirements of the Charity, including any audit/independent examination fees, costs linked to the strategic management of the Charity, together with a share of other administration costs.
-
Other expenditure These are support costs not allocated to a particular activity.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Page 10
Afan Valley Community Leisure Notes to the Accounts
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash management.
Trade and other creditors
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation 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.
Receipt of donated goods, facilities and services
All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estimate of the value to the charity.
2 Company status
The company is a private company limited by guarantee and consequently does not have share capital. The charity is a public benefit entity.
3 Statement of Financial Activities - prior year
| Income and endowments from: Donations and legacies Total Expenditure on: Charitable activities Other Total Net income Net income before other gains/(losses) Other gains and losses: Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
Unrestricted funds 2022 £ 2,756 2,756 - 1,101 1,101 1,655 1,655 1,655 3,942 5,597 |
Restricted funds 2022 £ 90,990 90,990 125,000 - 125,000 (34,010) (34,010) (34,010) 51,989 17,979 |
Total funds 2022 £ 93,746 |
|---|---|---|---|
| 93,746 125,000 1,101 |
|||
| 126,101 | |||
| (32,355) | |||
| (32,355) | |||
| (32,355) 55,931 |
|||
| 23,576 |
Page 11
Afan Valley Community Leisure Notes to the Accounts
4 Income from donations and legacies
| Donations & grants received towards the primary objects of the charity Small Donations individually less than £1,000 |
Unrestricted £ - 2,123 2,123 |
Restricted £ 32,843 - 32,843 |
Total 2023 £ 32,843 2,123 34,966 |
Total 2022 £ 90,990 2,756 |
|---|---|---|---|---|
| 93,746 | ||||
| Donated goods, facilities and services received | ||||
| Big Lottery Fund & Community Fund Awards for All, awarded by The National Lottery Neath Port Talbot Council for Voluntary Service West Glamorgan Regional Partnerships Winter Pressures Funding Llynfi Afan Renewable Energy Park Swansea Council for Voluntary Service 5 Expenditure on charitable activities Expenditure on charitable activities Afan Valley Swimming Pool Governance costs 6 Other expenditure Premises costs General administrative costs Legal and professional costs |
Restricted £ 55,000 55,000 Unrestricted £ 73 67 1,123 1,263 |
Total 2023 £ - 28,353 - - 4,490 32,843 Total 2023 £ 55,000 55,000 Total 2023 £ 73 67 1,123 1,263 |
Total 2022 £ 37,180 33,110 15,000 5,700 - |
|
| 90,990 | ||||
| Total 2022 £ 125,000 |
||||
| 125,000 | ||||
| Total 2022 £ 69 72 960 |
||||
| 1,101 |
Page 12
Afan Valley Community Leisure Notes to the Accounts
7 Staff costs
No trustee or persons connected with them received any remuneration from the charity, or any related entity.
The average monthly number of full time equivalent employees during the year was as follows:
| Engaged on charitable activities 8 Creditors: amounts falling due within one year Accruals 9 Movement in funds At 1 October 2022 Restricted funds: Restricted income funds: Afan Valley Swimming Pool 17,979 Total 17,979 Unrestricted funds: Designated funds: Unrestricted Revenue Funds 5,597 Total 5,597 Total funds 23,576 |
Incoming resources (including other gains/losses) £ 32,843 32,843 2,123 2,123 34,966 |
2023 Number - 2023 £ 960 960 Resources expended £ |
Gross transfers £ 4,178 4,178 (4,178) (4,178) - |
2022 Number - 2022 £ 960 |
|---|---|---|---|---|
| 960 | ||||
| At 30 September 2023 £ - |
||||
| Restricted funds: Restricted income funds: Afan Valley Swimming Pool Total Unrestricted funds: Designated funds: Unrestricted Revenue Funds Total Total funds |
||||
| (55,000) | ||||
| (55,000) (1,263) (1,263) (56,263) |
||||
| - | ||||
| 2,279 | ||||
| 2,279 | ||||
| 2,279 |
Purposes and restrictions in relation to the funds:
Restricted funds: Afan Valley Swimming Pool The purpose of this fund is contributions towards the running of Upper Afan Swimming Pool.
Designated funds: Unrestricted Revenue Funds These funds are held for meeting the objects of the charity, and to provide reserves for future activities. Subject to charity legislation, they are free from all restrictions on their use.
Page 13
Afan Valley Community Leisure Notes to the Accounts
10 Analysis of net assets between funds
| 10 Analysis of net assets between funds | |||
|---|---|---|---|
| Net current assets 11 Reconciliation of net debt Cash and cash equivalents Net debt |
Unrestricted funds £ 6,457 6,457 At 1 October 2022 £ |
Restricted funds £ (4,178) (4,178) Cash flows £ |
Total £ 2,279 |
| 2,279 | |||
| At 30 September 2023 £ |
|||
| 24,536 | (21,297) | 3,239 | |
| 24,536 24,536 |
(21,297) (21,297) |
3,239 | |
| 3,239 |
12 Related party disclosures
Controlling party
The company is limited by guarantee and has no share capital; thus no single party controls the company. There were no transactions with related parties in the year.
Page 14
Afan Valley Community Leisure Detailed Statement of Financial Activities
for the year ended 30 September 2023
| Income and endowments from: Donations and legacies Donations & grants received towards the primary objects of the charity Small Donations individually less than £1,000 Total income and endowments Expenditure on: Charitable activities Afan Valley Swimming Pool Total of expenditure on charitable activities Premises costs Rent General administrative costs, including depreciation and amortisation Bank charges Legal and professional costs Audit/Independent examination fees Other legal and professional costs Total of expenditure of other costs Total expenditure Net gains on investments Net expenditure Transfers between funds Net expenditure before other gains/(losses) Other Gains |
Unrestricte d funds 2023 £ - 2,123 2,123 2,123 - - - 73 73 67 67 960 163 1,123 1,263 1,263 - 860 (4,178) (3,318) - |
Restricted funds 2023 £ 32,843 - 32,843 32,843 55,000 55,000 55,000 - - - - - - - - 55,000 - (22,157) 4,178 (17,979) - |
Total funds 2023 £ 32,843 2,123 34,966 34,966 55,000 55,000 55,000 73 73 67 67 960 163 1,123 1,263 56,263 - (21,297) - (21,297) - |
Total funds 2022 £ 90,990 2,756 |
|---|---|---|---|---|
| 93,746 | ||||
| 93,746 125,000 |
||||
| 125,000 | ||||
| 125,000 69 |
||||
| 69 | ||||
| 72 | ||||
| 72 | ||||
| 960 - |
||||
| 960 | ||||
| 1,101 | ||||
| 126,101 - |
||||
| (32,355) - |
||||
| (32,355) - |
Page 15
Afan Valley Community Leisure Detailed Statement of Financial Activities
| Net movement in funds Reconciliation of funds: Total funds brought forward Total funds carried forward |
(3,318) 5,597 2,279 |
(17,979) 17,979 - |
(21,297) 23,576 2,279 |
(32,355) |
|---|---|---|---|---|
| 55,931 | ||||
| 23,576 |
Page 16