Financial Statements
| inancial Statements | inancial Statements |
|---|---|
| Details Notes £ 2023 £ 2022 £ |
|
| Receipts | |
| Donations/ Legacies 3 22,000 |
|
Hire/ Rent Received -- |
|
| Total Receipts 22,000 |
|
| Payments | |
| Charitable activities 6,000 |
|
| Light and heat 3,100 |
|
Insurance 2,500 |
|
| Equipment 7,000 |
|
Travelling Expenses 560 |
|
| Telephone and Internet 600 |
|
Sundry Expenses 189 |
|
| Bank Charges and Interest 160 |
|
Mentoring Activities 200 |
|
| Less Total Payments (20,309) |
|
| Net of Receipts 1,691 |
|
Cash Funds from last year 200 |
|
| Cash Funds thisyear-end 1,891 |
|
| Cymru Children & Youth Sports Foundation Statement of Financial Position As at 29 February 2023 |
|
Details Notes £ |
2023 £ 2022 £ |
| Fixed Assets | |
| Tangible assets | 300 |
| Current assets | |
| Debtors | 500 |
| Cash at the bank and in hand | 3,000 |
| 3,500 | |
| Creditors: Amounts falling due within 1year |
(1609) |
Net current assets |
1,891 |
| Funds of Charity | |
| Unrestricted Funds | 1,891 |
| Total Funds | 1,891 |
Notes to the Accounts
2) Incoming resources
All incoming resources are redeemed once the charity has legal entitlement to their resources, it is prudent that the resources will be received, and their monetary value realized. The following policy should be applied to the categories of income. Voluntary income is received by way of donations and grants and is fully disclosed in the Statement of Financial Activities. The value of services donated by volunteers has not been included in these accounts, except where the services provided are professional services where a fee would otherwise be charged, in which case the donated service is valued at their chargeable rate.
d) Costs of generating funds
The costs of generating funds are those incurred in attracting voluntary income or in trading activities undertaken to raise funds.
▪ 3. Incoming Receipts
| ▪ 3. Incoming Receipts |
|||
|---|---|---|---|
| Details | Total Funds |
||
| £ | |||
| Donations | 10,600 | ||
| Children Chapter | 11,400 | ||
| Total | 22,000 |
These financial statements were approved and authorized for issue by the Board of trustees and signed on their behalf on 25/04/23 by
Chair of Trustees Phillip Mpukusa
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are initially recognized at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortized. Debt instruments are subsequently carried at amortized cost, using the effective interest rate method.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a
financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.