## **Trustees’ Annual Report for the period** ## **From 01/10/2023 To 30/09/2024** ## **Charity name: SOEL CONNECT** ## **Charity registration number: 1171628** ## **Objectives and Activities** ||SORP reference|| |---|---|---| |Summary of the purposes of
the charity as set out in its
governing document|Para 1.17|The objects of the charity are to advance
the Christian faith, for the public benefit, in
particular but not exclusively by the
provision of a community gospel music
group.| |Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or
services identified in the
accounts.|Para 1.17 and
1.19|Our key services and activities include:
•
Live music performances
•
Music rehearsals & workshops
•
Singing lessons and vocal coaching
•
Welsh singing workshops
•
Creative mental health workshops
•
Songwriting & composition
workshops
•
Poetry Writing
•
Musical instrument training
•
Mentorship and creative
development for community
members
•
Job support/advice/CV
writing/Digital support| |Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit|Para 1.18|Soel Connect confirms that her trustees
have had regard to the charity
commission’s guidance on public benefit.| **Additional information (optional)** You may choose to include further statements where relevant about: SORP reference **N/A** Para 1.38 Policy on grant making **N/A** Para 1.38 Policy on social investment including program related investment Para 1.38 Contribution made by volunteers Other ## **Achievements and Performance** ||SORP reference|| |---|---|---| |Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.|Para 1.20|Our mission is to bring hope to our
community through music, creativity and
community engagement.
In the past year, we delivered:
An average of 40 music workshop sessions
including; choir rehearsals, vocal training
sessions and Welsh choral singing
sessions as well as song writing sessions.
Concerts, Gospel music and worship
events within and around Cardiff, open to
the public. This gave us opportunity to
engage with more people, helped to build
networks and new relationships. It also
gave us the opportunity to share our
projects and activities with new audiences.
Socials gatherings (picnics, day trips,
meals etc.) for all our participants which
gave opportunity for team bonding,
friendships, collaborations, creative
expressions, and organisational
development.
We launched a Welsh singing project
Welsh singing project “Swn Llwythol
Connect” funded by TNL. Swn Llwythol
Connect is a social initiative to develop a
sustainable means for promoting the Welsh
language and culture amongst African and
ethnically diverse communities in and
around Cardiff using music as a
mechanism for bridging this gap.
We also continued having bi-monthly
health and wellbeing singing workshops to| **----- Start of picture text -----**
support people’s mental health & wellbeing
within the community.
**----- End of picture text -----**
**----- Start of picture text -----**
Additional information (optional)
You may choose to include further statements where relevant about:
Achievements against Para 1.41
objectives set
N/A
Performance of fundraising
activities against objectives Para 1.41
set
N/A
Investment performance Para 1.41
against objectives
N/A
Other
**----- End of picture text -----**
## **Financial Review** |**Financial Review**||| |---|---|---| |Review of the charity’s
financial position at the end
of the period|Para 1.21|Total income for the year was £96,366.11
and total expenditure was £72,176.
**Sources:**
•
Grants from funders
•
Donations
•
Ticket sales and merchandise
Soel Connect finance is stable and is
expected to grow as we make necessary
changes to organisational development and
streamline our services and activities to
address the needs of our target audience.| |Statement explaining the
policy for holding reserves
stating why they are held|Para 1.22|Soel Connect does not currently have a
policy on reserves. Hence all available
funds are held in Soel Connect’s bank
account and will be allocated to the needs
of the charity including planned activities,
events, services, bills, fees, salaries etc. in
order of priority and degree of importance
as deemed by the charity trustees and
finance officer.
At the point where we can attain substantial
financial income resulting in significant
reserves, the trustees and relevant
executives will agree on an adequate policy
/ system to appropriate the charities
reserves.| |Amount of reserves held|Para 1.22|**Account Balance on 30 September**
**2024 is**£28,164| |Reasons for holding zero
reserves|Para 1.22|**N/A**| |Details of fund materially in
deficit|Para 1.24|**N/A**| |Explanation of any
uncertainties about the
charity continuing as a going
concern|Para 1.23|**There are no uncertainties about the**
**charity in this regard.**| ## **Additional information (optional)** You may choose to include further statements where relevant about: |The charity’s principal
sources of funds (including
any fundraising)|Para 1.47|This period, Soel Connect’s principal
source of funding is through grants,
donations / contributions from members
and partners.| |---|---|---| |Investment policy and
objectives including any
social investment policy
adopted|Para 1.46|Looking ahead, we plan to:
•
Expand our outreach to universities,
student communities and churches
in and around Cardiff.
•
Secure multi-year funding to sustain
key programmes and activities.| |||•
Collaborate with local and national
arts organisations to increase
impact.| |---|---|---| |A description of the principal
risks facing the charity|Para 1.46|Trustees regularly review risks relating to:
•
Financial sustainability
•
Safeguarding of young people and
vulnerable adults
•
Health and safety at events
•
Reputational risk
Mitigations we are putting in place include
policies, training, insurance coverage,
compliance checks, etc.| |Other||| ## **Structure, Governance and Management** |Description of charity’s
trusts:||Soel Connect is a registered charity
governed by a constitution. The Trustees
are responsible for the overall strategic
direction and financial oversight of the
organisation.
**Registered 15 Feb 2017**| |---|---|---| |Type of governing document
(trust deed, royal charter)|
Para 1.25|**Constitution**| |How is the charity
constituted?
(e.g unincorporated
association, CIO)|Para 1.25|**CIO**| |Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees|Para 1.25|Trustees are appointed by
election/nomination, with induction and
training provided to ensure effective
governance.
**Trustee tenures are renewed where**
**necessary based on unanimous vote by**
**existing trustees.**| **Additional information (optional)** You may choose to include further statements where relevant about: **N/A** Policies and procedures adopted for the induction Para 1.51 and training of trustees **N/A** The charity’s organisational structure and any wider Para 1.51 network with which the charity works |||| |---|---|---| |Relationship with any
related parties|Para 1.51|**N/A**| |Other||**N/A**| ## **Reference and Administrative details** |Charity name|SOEL CONNECT| |---|---| |Other name the charity uses|N/A| |Registered charitynumber|1171628| |Charity’s principal address|32 Bronte Crescent Cardiff.
CF3 5PL| ||| ## **Names of the charity trustees who manage the charity** |1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20|**Trustee name**|**Office (if any)**|**Dates acted if not for whole**
**year **|**Name of person (or body) entitled**
**to appoint trustee (ifany)**| |---|---|---|---|---| ||Otokoni Okwulehie|Trustee|Wholeyear|| ||Emmanuel
Oluwamayowa|Trustee|Whole year|| ||Femi David|Trustee|Wholeyear|| ||Solomon Simukoko|Chairman|Wholeyear|| ||Kevin Murithi
kithinji|Treasurer|Whole year|| ||Kenechi Nwaki|Secretary|Wholeyear|| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| ## – Corporate trustees names of the directors at the date the report was approved **Director name** Name of trustees holding title to property belonging to the charity |**Trustee name**|**Dates acted if not for wholeyear**|| |---|---|---| |**N/A**|**N/A**|| |||| |||| |||| |||| |||| ## **Funds held as custodian trustees on behalf of others** Description of the assets N/A held in this capacity Name and objects of the N/A charity on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for N/A safe custody and segregation of such assets from the charity’s own assets ## **Additional information (optional)** ## **Names and addresses of advisers (Optional information)** |**Type of**|**Name**|**Address**| |---|---|---| |**adviser**||| **Name of chief executive or names of senior staff members (Optional information)** ## **Exemptions from disclosure** Reason for non-disclosure of key personnel details ## **Other optional information** ## **Declarations** **The trustees declare that they have approved the trustees’ report above.** **Signed on behalf of the charity’s trustees** |**Signature(s)**
**Full name(s)**
**Position (eg Secretary,**
**Chair, etc)**
**Date**||| |---|---|---| ||Solomon Simukoko|Otokoni Okwulehie| ||

Chairman|Trustee| ||01/07/25|| ||01/07/25|| SOEL Connect Annual Accounts Oct23 -Sep24 (23) SOFA **----- Start of picture text -----**
Charity Name: SOEL CONNECT Charity No. 1171628
Annual accounts for the period
Period start date 01/10/2023 To Period end date 30/09/2024
Section A Statement of financial activities
Recommended categories by Guidance Unrestricted Restricted Endowment Prior year
activity Notes funds income funds funds Total funds funds
£ £ £ £ £
Incoming resources (Note 3) F01 F02 F03 F04 F05
Income and endowments from:
Donations and legacies S01 9,952.00 78,384.50 - 88,337 52,431
Charitable activities S02 4,122.66 - - 4,123 418
Other trading activities S03 3,847.91 - - 3,848 685
Investments S04 59.04 - - 59 -
Separate material item of income S05 - - - - -
Other S06 - - - - -
Total S07 17,981.61 78,384.50 - 96,366.11 53,534
Resources expended (Note 6)
Expenditure on:
Raising funds S08 - - - - -
Charitable activities S09 19,356.26 52,819.56 - 72,176 35,070
Separate material item of expense S10 - - - - -
Other S11 - - - - -
Total S12 19,356.26 52,819.56 - 72,175.81 35,070
Net income/(expenditure) before investment
gains/(losses) S13 - 1,375 25,565 - 24,190 18,464
Net gains/(losses) on investments S14 - - - - -
Net income/(expenditure) S15 - 1,375 25,565 - 24,190 18,464
Extraordinary items S16 - - - - -
Transfers between funds S17 - - - - -
Other recognised gains/(losses):
Gains and losses on revaluation of fixed
assets for the charity’s own use S18 - - - - -
Other gains/(losses) S19 - - - - -
Net movement in funds S20 - 1,375 25,565 - 24,190.30 18,464
Reconciliation of funds:
Total funds brought forward S21 10,852 22,410.00 - 33,262 14,797
Total funds carried forward S22 9,477 47,975 - 57,452 33,262
**----- End of picture text -----**
1 SOEL Connect Annual Accounts Oct23 -Sep24 (23) Income ## **Note 3 Analysis of income Oct 2023 to Sept 2024** |**Donations**
**and**
**legacies:**|**Analysis**|**Unrestricte**
**d funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**Prior year**
**£**
**£**|**Unrestricte**
**d funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**Prior year**
**£**
**£**|**Unrestricte**
**d funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**Prior year**
**£**
**£**|**Unrestricte**
**d funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**Prior year**
**£**
**£**|**Unrestricte**
**d funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**Prior year**
**£**
**£**| |---|---|---|---|---|---|---| ||Donations and gifts|-
5,962-|-
--|-
--|-
5,962-|-
3,146-| ||Gift Aid||-
--|-
--|-
--|-
--| ||Legacies||-
--|-
--|-
--|-
--| ||General grants provided by|-
3,990-|- 78,385-|-
--|-
82,375-|- 48,605-| ||Membership subscriptions and sponsorships|-
--|-
--|-
--|-
--|-
--| ||Donated goods, facilities and services||-
--|-
--|-
--|-
--| ||Other (Honorariums)||-
--|-
--|-
--|-
680-| ||**Total** -
9,952-
- 78,385-
-
--
-
88,337-
- 52,431-|-
9,952-|- 78,385-|-
--|-
88,337-|- 52,431-| |**Charitable**
**activities:**|Merchandise/ Ticket Sale|-
4,123-|-
--|-
--|-
4,123-|-
1,103-| |||-
--|-
--|-
--|-
--|-
--| |||-
--|-
--|-
--|-
--|-
--| ||Other|-
--|-
--|-
--|-
--|-
--| ||**Total** -
4,123-
-
--
-
--
-
4,123-
-
1,103-|-
4,123-|-
--|-
--|-
4,123-|-
1,103-| |**Other**||||||| |**trading**
**activities:**
**Income from**
**investments:**
**Separate**
**material item**
**of income:**
**Other:**
**TOTAL INCO**
**Other informat**|Insurance Claims|-
1,000-|-
--|-
--|-
1,000-|-
--| ||Expense reimbursement|-
2,848-|-
--|-
--|-
2,848-|-
--| |||||||| ||Other||-
--|-
--|-
--|-
--| ||**Total**|-
3,848-|-
--|-
--|-
3,848-|-
--| |||||||| ||
Interest income|-
59-|-
--|-
--|-
59-|-
--| ||Dividend income|-
--|-
--|-
--|-
--|-
--| ||Rental and leasing income|-
--|-
--|-
--|-
--|-
--| ||Other|-
--|-
--|-
--|-
--|-
--| ||**Total**|-
59-|-
--|-
--|-
59-|-
--| |||||||| |||-
--|-
--|-
--|-
--|-
--| |||-
--|-
--|-
--|-
--|-
--| |||-
--|-
--|-
--|-
--|-
--| |||-
--|-
--|-
--|-
--|-
--| ||**Total**|-
--|-
--|-
--|-
--|-
--| |||||||| ||Conversion of endowment funds into income|-
--|-
--|-
--|-
--|-
--| ||Gain on disposal of a tangible fixed asset|-
--|-
--|-
--|-
--|-
--| ||Gain on disposal of a programme related|-
--|-
--|-
--|-
--|-
--| ||Royalties from the exploitation of intellectual|-
--|-
--|-
--|-
--|-
--| ||Other|-
--|-
--|-
--|-
--|-
--| ||**Total**
**ME**
**ion:**|-
--|-
--|-
--|-
--|-
--| |||||||| |||-
17,982-|- 78,385-|-
--|-
96,366-|- 53,534-| |||||||| |||||||| |**All income in**

||||||| |**h**
**i**
**Where any end**
**i**
**i **
**Where any end**

|**owment fund is converted into income in the**
**d**
**l**
**i**
**h**
**f**
**h**
**i**
**owment fund is converted into income in the**

|||||| |||||||| |||||||| |||||||| |**i**
**i d**
|**l**
**i**
**h**
**f**
**h**
**i**|||||| |**Within the inco**
|**me items above the following items are**

|||||| **Within the income items above the following items are i l ( l di l h d i** 2 SOEL Connect Annual Accounts Oct23 -Sep24 (23) Expenditure ## **Section C Notes to the accounts (cont)** ## **Note 6 Analysis of expenditure Oct 2023 to Sept 2024** |**Note 6 Analysis of expenditure Oct 2023 to Sept 2024**|**Note 6 Analysis of expenditure Oct 2023 to Sept 2024**|**Note 6 Analysis of expenditure Oct 2023 to Sept 2024**|**Note 6 Analysis of expenditure Oct 2023 to Sept 2024**|**Note 6 Analysis of expenditure Oct 2023 to Sept 2024**|**Note 6 Analysis of expenditure Oct 2023 to Sept 2024**|**Note 6 Analysis of expenditure Oct 2023 to Sept 2024**|||| |---|---|---|---|---|---|---|---|---|---| |**This year**
**Analysis**
**Unrestricte**
**d funds**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**Unrestricted**
**funds**
**Expenditure on raising funds:**
**£**|||||||**Last year**
**Restricted**
**income**
**funds**
**Endowment**
**funds**
**Total funds**
**£**||| |||-
- .00-|-
- .00-|-
--|-
--|-
--|-
--|-
--|-
--| |||-
- .00-|-
- .00-|-
--|-
--|-
--|-
--|-
--|-
--| |||-
- .00-|-
- .00-|-
--|-
--|-
--|-
--|-
--|-
--| |**Total expenditure on raising funds**
-
- .00-
-
- .00-
-
--
-
--
-
--
**Expenditure on charitable activities:**||-
- .00-|-
- .00-|-
--|-
--|-
--|-
--|-
--|-
--| ||||||||||| ||||||||||| |Hospitality and Catering||-
585.69-|- 5,763.57-|-
--|-
6,349-|-
1,272-|-
2,972-|-|-
4,245-| |Artistic Services||-
926.53-|-18,281.41-|-
--|-
19,208-|-
6,684-|-
3,709-|-|-
10,392-| |Travel Costs & Accomodation||-1,708.77-|- 5,077.04-|-
--|-
6,786-|-
599-|-
2,607-|-|-
3,206-| |Licensing, Registration and||-2,692.89-|-
747.15-|-
--|-
3,440-|-
496-|-
167-|-|-
663-| |Advertising, Marketing and Publicity||-
899.56-|- 5,018.53-|-
--|-
5,918-|-
2,748-|-
986-|-|-
3,734-| |Donations & Honourarium||-
400.00-|-
- .00-|-
--|-
400-|-
1,100-|-|-|-
1,100-| |Media Expenses||-2,440.64-|- 4,313.77-|-
--|-
6,754-|-
1,720-|-
1,307-|-|-
3,027-| |Office Expenses||-
365.52-|- 1,048.58-|-
--|-
1,414-|-
201-|-
676-|-|-
877-| |Venue||-2,272.00-|- 1,500.00-|-
--|-
3,772-|-
2,390-|-|-|-
2,390-| |Insurance & Warranty||-
34.72-|-
517.69-|-
--|-
552-||||-
--| |Professional Service||-
471.16-|- 1,557.98-|-
--|-
2,029-|-
2,891-|-
1,050-|-|-
3,941-| |Bank Charges||-
60.26-|-
- .00-|-
--|-
60-||||-
--| |General Admin|||-
- .00-|-
--|-
--|-
252-|-
1,243-||-
1,495-| |Volunteer cost / Event
expenses
Depreciation||-
350.00-|-
521.94-|-
--|-
872-||||-
--| |||-6,148.52-|- 8,471.90-|-
--|-
14,620-|5,919|-
4,135-||-
10,054-| |**Total expenditure on charitable**
**activities**
**Separate material item of expense**||-19,356.26|-52,819.56-|-
--|-
72,176-|-
26,272-|-
18,852-|-
--|-
45,124-| ||||||||||| |||-
- .00-|-
- .00-|-
--|-
--|-
--|-
--|-
--|-
--| |||-
- .00-|-
- .00-|-
--|-
--|-
--|-
--|-
--|-
--| |||-
- .00-|-
- .00-|-
--|-
--|-
--|-
--|-
--|-
--| |**Total**
**Other**||-
- .00-|-
- .00-|-
--|-
--|-
--|-
--|-
--|-
--| ||||||||||| ||||||||||| |||-
- .00-|-
- .00-|-
--|-
--|-
--|-
--|-
--|-
--| |||-
- .00-|-
- .00-|-
--|-
--|-
--|-
--|-
--|-
--| |||-
- .00-|-
- .00-|-
--|-
--|-
--|-
--|-
--|-
--| |||-
- .00-|-
- .00-|-
--|-
--|-
--|-
--|-
--|-
--| |**Total other expenditure**
-
- .00-
-
- .00-
-
--
-
--
-
--
-
--
-
--
-
--
**TOTAL EXPENDITURE**
-19,356.26-- 52,819.56- -
--
-
72,176-
-
26,272-
-
18,852-
-
--
-
45,124-
**Other information:**
**Analysis of expenditure on charitable activities**
**This year**
**Last year**||-
- .00-|-
- .00-|-
--|-
--|-
--|-
--|-
--|-
--| |||-19,356.26-|- 52,819.56-|-
--|-
72,176-|-
26,272-|-
18,852-|-
--|-
45,124-| |||**This year**||||**Last year**|||| |**Activity or programme**||**Activities**

|**Grant**

|**Support**
|**Total this**|**Activities**

|**Grant**

|**Support**
|**Total last**| |||**d**
**k**
**£**|**f**
**di**
**f**
**£**|**C**
**£**|**£**|**d**
**k**
**£**|**f**
**di**
**f**
**£**|**C**
**£**|**£**| |Activity 1||-
- .00-|-
- .00-|-
--|-
--|-
--|-
--|-
--|-
--| |Activity 2||-
- .00-|-
- .00-|-
--|-
--|-
--|-
--|-
--|-
--| |Other||-
- .00-|-
- .00-|-
--|-
--|-
--|-
--|-
--|-
--| |**Total**||-
- .00-|-
- .00-|-
--|-
--|-
--|-
--|-
--|-
--| ||||||||||| 3 SOEL Connect Annual Accounts Oct23 -Sep24 (23) Balance sheet **----- Start of picture text -----**
Section B Balance sheet
Guidance Unrestricted Restricted Endowment Total this Total last
Notes funds income funds funds year year
£ £ £ £ £
Fixed assets F01 F02 F03 F04 F05
Intangible assets (Note 15) B01 0 0 0 0 -
Tangible assets (Note 14) B02 8,726.57 21,280.41 0 30,006.97 26,363.78
Heritage assets (Note 16) B03 0 0 0 0 -
Investments (Note 17) B04 0 0 0 0 -
Total fixed assets B05 8,727 21,280 0 30,007 26,364
Current assets
Stocks (Note 18) B06 0 0 0 0 0
Debtors (Note 19) B07 0 0 0 0 0
Investments (Note 17.4) B08 0 0 0 0 0
Cash at bank and in hand (Note 24) 7 5,606.07 22,558.26 0 28,164.33 7,618
Total current assets B10 5,606 22,558 0 28,164 7,618
Creditors: amounts falling due within o B11 0 0 0 0 0
Net current assets/(liabilities) B12 5,606 22,558 0 28,164 7,618
Total assets less current liabilities B13 14,333 43,839 0 58,171 33,982
Creditors: amounts falling due after one B14 0 0 0 0 0
Provisions for liabilities B15 0 0 0 0 0
Total net assets or liabilities B16 14,333 43,839 0 58,171 33,982
Funds of the Charity
Endowment funds (Note 27) B17 - - -
Restricted income funds (Note 27) B18 - - -
Unrestricted funds B19 - - -
Revaluation reserve B20 -
Total funds B21 - - - - -
Signed by one or two trustees on behalf of all Date of
the trustees Signature Print Name approval
dd/mm/yyyy
OTOKONI OKWULEHIE 7/7/2025
EMMANUEL
7/7/2025
OLUWAMAYOWA
**----- End of picture text -----**
4 SOEL Connect Annual Accounts Oct23 -Sep24 (23) Tangible assets ## **Section C Notes to the accounts (cont)** ## **Note 14 Tangible fixed assets** _**Please complete this note if the charity has any tangible fixed assets**_ |**14.1 Cost or valuation**|||||| |---|---|---|---|---|---| ||**Freehold land**
**& buildings**
**£**|**Other land &**
**buildings**
**£**|**Plant,**
**machinery**
**and motor**
**vehicles**
**£**|**Fixtures,**
**fittings and**
**equipment**
**£**|**Total**
**£**| |At the beginning of the year
Additions
Revaluations
Disposals
Transfers *|0|0|0|23,675.93|23,676| ||0|0|0|-
918.13-|918| ||0|0|0|0|0| ||0|0|0|0|0| ||0|0|0|0|0| |At end of the year
0
0
0
24,594.06
24,594
**14.2 Depreciation and impairments**
****Basis**ight Line or Red
SL or RB
SL or RB
SL or RB
SL or RB
**** Rate**
0.25
0.25
At beginning of the year
0
0
0
9,719
9,719
Disposals
0
0
0
0
0
Depreciation
0
0
0
6,149
6,149
Impairment
0
0
0
0
0
Transfers*
0
0
0
0
0
At end of the year
0
0
0
15,867
15,867
**14.3 Net book value**
Net book value at the beginning of the
year
0
0
0
13,956.95
13,956.95
Net book value at the end of the year
0
0
0
8,727
8,726.57
**14.4 Impairment**
**_This year: Please provide a description of the events and_**
**_circumstances that led to the recognition or reversal of an_**
**_impairment loss._**
**_Last year: Please provide a description of the events and_**
**_circumstances that led to the recognition or reversal of an_**
**_impairment loss._**
**14.5 Revaluation**
**_If an accounting policy of revaluation is adopted, please provide:_**
**This year**
**Last year**
**_the effective date of the revaluation_**
**_the name of independent valuer, if applicable_**
**_the methods applied and significant assumptions_**
**_the carrying amount that would have been recognised had the_**
**_assets been carried under the cost model._**
-
-
**14.6 Other disclosures**
**This year**
**Last year**
**£**
**£**
**_(i) Please state the amount of borrowing costs, if any, capitalised in the_**
**_construction of tangible fixed assets and the capitalisation rate used._**
-
-
**_(ii) Please provide the amount of contractual commitments for the acquisition of_**
**_tangible fixed assets._**
-
-
**_(iii) Details of the existence and carrying amounts of property,_**
**_plant and equipment to which the charity has restricted title or_**
**_that are pledged as security for liabilities._**
_* The "transfers" row is for movements between fixed asset categories._|0|0|0|24,594.06|24,594| ||||||| ||ight Line or Red|SL or RB|SL or RB|SL or RB|SL or RB| |||||0.25|0.25| ||||||| ||0|0|0|9,719|9,719| ||0|0|0|0|0| ||0|0|0|6,149|6,149| ||0|0|0|0|0| ||0|0|0|0|0| ||0|0|0|15,867|15,867| ||||||| ||0|0|0|13,956.95|13,956.95| ||0|0|0|8,727|8,726.57| ||**_on of the events and_**
**_tion or reversal of an_**
**_on of the events and_**
**_tion or reversal of an_**
**_is adopted, please provide:_**
**This year**
**Last year**
**_plicable_**
**_ssumptions_**
**_been recognised had the_**
**_odel._**
-
-
**This year**
**Last year**
**£**
**£**
**_ing costs, if any, capitalised in the_**
**_and the capitalisation rate used._**
-
-
**_tractual commitments for the acquisition of_**
-
-
**_ing amounts of property,_**
**_rity has restricted title or_**
**_ties._**||||| |||||**This year**|**Last year**| |||||**£**|**£**| |||||-|-| |||||-|-| ||||||| _** Please indicate the method of depreciation by deleting the method not applicable (SL = straight line; RB = reducing ba_ 5 SOEL Connect Annual Accounts Oct23 -Sep24 (23) Restricted Tangible assets ## **Section C Notes to the accounts (cont)** ## **Note 14 Restricted Tangible fixed assets** _**Please complete this note if the charity has any tangible fixed assets**_ |**14.1 Cost or valuation**|||||| |---|---|---|---|---|---| ||**Freehold land**
**& buildings**
**£**|**Other land &**
**buildings**
**£**|**Plant,**
**machinery**
**and motor**
**vehicles**
**£**|**Fixtures,**
**fittings and**
**equipment**
**£**|**Total**
**£**| |At the beginning of the year
Additions
Revaluations
Disposals
Transfers *|0|0|0|16,541.11|16,541| ||0|0|0|17,346.47|17,346| ||0|0|0|0|0| ||0|0|0|0|0| ||0|0|0|0|0| |At end of the year
0
0
0
33,887.58
33,888
**14.2 Depreciation and impairments**
****Basis**ight Line or Red
SL or RB
SL or RB
SL or RB
SL or RB
**** Rate**
0.25
0.25
At beginning of the year
0
0
0
4,135.28
4,135
Disposals
0
0
0
0
0
Depreciation
0
0
0
8,472
8,472
Impairment
0
0
0
0
0
Transfers*
0
0
0
0
0
At end of the year
0
0
0
12,607
12,607
**14.3 Net book value**
Net book value at the beginning of the
year
0
0
0
12,405.83
12,405.83
Net book value at the end of the year
0
0
0
21,280.41
21,280.41
**14.4 Impairment**
**_This year: Please provide a description of the events and_**
**_circumstances that led to the recognition or reversal of an_**
**_impairment loss._**
**_Last year: Please provide a description of the events and_**
**_circumstances that led to the recognition or reversal of an_**
**_impairment loss._**
**14.5 Revaluation**
**_If an accounting policy of revaluation is adopted, please provide:_**
**This year**
**Last year**
**_the effective date of the revaluation_**
**_the name of independent valuer, if applicable_**
**_the methods applied and significant assumptions_**
**_the carrying amount that would have been recognised had the_**
**_assets been carried under the cost model._**
-
-
**14.6 Other disclosures**
**This year**
**Last year**
**£**
**£**
**_(i) Please state the amount of borrowing costs, if any, capitalised in the_**
**_construction of tangible fixed assets and the capitalisation rate used._**
-
-
**_(ii) Please provide the amount of contractual commitments for the acquisition of_**
**_tangible fixed assets._**
-
-
**_(iii) Details of the existence and carrying amounts of property,_**
**_plant and equipment to which the charity has restricted title or_**
**_that are pledged as security for liabilities._**
_* The "transfers" row is for movements between fixed asset categories._|0|0|0|33,887.58|33,888| ||||||| ||ight Line or Red|SL or RB|SL or RB|SL or RB|SL or RB| |||||0.25|0.25| ||||||| ||0|0|0|4,135.28|4,135| ||0|0|0|0|0| ||0|0|0|8,472|8,472| ||0|0|0|0|0| ||0|0|0|0|0| ||0|0|0|12,607|12,607| ||||||| ||0|0|0|12,405.83|12,405.83| ||0|0|0|21,280.41|21,280.41| ||**_on of the events and_**
**_tion or reversal of an_**
**_on of the events and_**
**_tion or reversal of an_**
**_is adopted, please provide:_**
**This year**
**Last year**
**_plicable_**
**_ssumptions_**
**_been recognised had the_**
**_odel._**
-
-
**This year**
**Last year**
**£**
**£**
**_ing costs, if any, capitalised in the_**
**_and the capitalisation rate used._**
-
-
**_tractual commitments for the acquisition of_**
-
-
**_ing amounts of property,_**
**_rity has restricted title or_**
**_ties._**||||| |||||**This year**|**Last year**| |||||**£**|**£**| |||||-|-| |||||-|-| ||||||| _** Please indicate the method of depreciation by deleting the method not applicable (SL = straight line; RB = reducing ba_ 6 SOEL Connect Annual Accounts Oct23 -Sep24 (23) Grants receipts ## **Note 4 Analysis of receipts of government grants** |**Government grant 1**
**Government grant 2**
**Government grant 3**
**Government grant 4**|**Description**|**Description**|**This year**
**£**| |---|---|---|---| ||TNL||18,495.00| ||Jamil Project||28,125.40| ||Diverse Cymru||31,764.10| ||Art Council Wales||3,990.00| |**Total**
82,374.50
**Description**
**Last year**
**£**
**Government grant 1**
Ty Cerdd
1,500.00
**Government grant 2**
Jamii Project
37,125.40
**Government grant 3**
TNL
9,980.00
**Other**
N/A
-
**Total**
48,605.40
**This year**
**Last year**
**_Please provide details of any unfulfilled conditions a_**
**This year**
**Last year**
**_Please give details of other forms of government ass_**|**Total**
**Description**||82,374.50| ||||**Last year**
**£**| ||Ty Cerdd||1,500.00| ||Jamii Project||37,125.40| ||TNL||9,980.00| ||N/A||-| ||**Total**
48,605.40
**This year**
**Last year**||48,605.40| ||||| ||**This year**
**Last year**||| ||**_government ass_**||| 7 SOEL Connect Annual Accounts Oct23 -Sep24 (23) Trustee transactions ## **Section C Notes to the accounts (cont)** ## **Note 28 Transactions with trustees and related parties** _**If the charity has any transactions with related parties (other than the trustee expenses explained in guidance notes) details of such transactions should be provided in this note. If there are no transactions to report, please enter “True” in the box or "False" if there are transactions to report.**_ ## **28.1 Trustee remuneration and benefits This year** **None of the trustees have been paid any remuneration or received any other benefits TRUE from an employment with their charity or a related entity (True or False)** _**In the period the charity has paid trustees remuneration and benefits. Please give the amount of, and legal authority for, any remuneration or other benefits paid to a trustee by the charity or any institution or company connected with it.**_ ||||**Amounts paid or benefit value**|**Amounts paid or benefit value**|**Amounts paid or benefit value**|| |---|---|---|---|---|---|---| |**Name of trustee**|**Legal**
**authority (eg**
**order,**
**governing**
**document)**|**Remuneratio**
**n**
**£**|**Pension**
**contribution**
**£**|**Redundancy**
**(including**
**loss of office)**
**/ex gratia**
**£**|**Other**
**£**|**TOTAL**
**£**| |||-|-|-|-|**-**| |||-|-|-|-|**-**| |||-|-|-|-|**-**| |||-|-|-|-|**-**| _**Please give details of why remuneration or o**_ _**Where an ex gratia payment has been made**_ ## **Last year** **None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity (True or False)** **TRUE** _**In the period the charity has paid trustees remuneration and benefits. Please give the amount of, and legal authority for, any remuneration or other benefits paid to a trustee by the charity or any institution or company connected with it.**_ ||||**Amounts paid or benefit value**|**Amounts paid or benefit value**|**Amounts paid or benefit value**|| |---|---|---|---|---|---|---| |**Name of trustee**|**Legal**
**authority (eg**
**order,**
**governing**
**document)**|**Remuneratio**
**n**
**£**|**Pension**
**contribution**
**£**|**Redundancy**
**(including**
**loss of office)**
**/ex gratia**|**Other**
**£**|**TOTAL**
**£**| |||-|-|-|-|**-**| |||-|-|-|-|**-**| |||-|-|-|-|**-**| |||-|-|-|-|**-**| _**Please give details of why remuneration or other employment benefits were paid. Where an ex gratia payment has been made to a trustee, provide an explanation of the nature of the payment.**_ ## **28.2 Trustees' expenses** _**If the charity has paid trustees expenses for fulfilling their duties, details of such transactions should be provided in this note. If there are no transactions to report, please enter “True” in the box below. If there are transactions to report, please enter "False".**_ **No trustee expenses have been incurred (True or False)** _**TRUE**_ 8 ## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF SOEL CONNECT FOR THE YEAR ENDED 30 SEPTEMBER 2024.** I report to the trustees on my examination of the accounts of SOEL Connect (the Trust) for the year ended 30 September 2024. ## **Responsibilities as the Charity Trustees of the Trust** You are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). ## **Basis of Independent Examiner’s report** I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act. In carrying out my examination, I have followed all the applicable directions given by the Charity Commission under section 145(5)(b) of the Act. ## **Independent Examiner’s Statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. Accounting records were not kept in respect of the Trust as required by section 130 of the Act; or 2. The accounts do not accord with those records; or 3. The accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed: Name: Evelyn Okusanya, CIMA (Affiliate) Address: 74, Tennyson Close, Rhydyfelin, Pontypridd CF37 5ER Date: 22 July 2025