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2020-10-31-accounts

Abergavenny Community Trust CIO

Charity No. 1177133

Trustees' Report and Unaudited Accounts

31 October 2020

Abergavenny Community Trust CIO CONTENTS

Pages
Trustees' Annual Report 2 to 16
Independent Examiner's Report 17
Statement of Financial Activities 18
Balance Sheet 19
Notes to the Accounts 20 to 28
Detailed Statement of Financial Activities 29 to 30

Page 1

Abergavenny Community Trust CIO

Report of the Trustees for the Year Ended 30 October 2020

The trustees present their annual report and unaudited financial statements for the year ended 31 October 2020 and confirm they comply with the Charities Act 1993, as amended by the Charities Act 2006, the trust deed and the Charities SORP 2005.

The trustees note that this has been an extraordinary year due to Covid-19 which has impacted on the work of the Trust in various ways.

Reference and Administrative Information

Charity Name Abergavenny Community Trust Charity Registration Number 1177133 Date of Governing Document 25 January 2018 Principal Office Abergavenny Community Centre, The Old School, Park Street, Abergavenny, NP7 5YB Tel: 07751 666481 aber.hub@gmail.com Board of Trustees Ff.M. Ansari I.S. Kumar S. Burch C.E. Lewis J. Edmonds S.I. Lloyd-Jones N.R.C Hoyal G. Miles Clark C. Irving C.J. Payne

Acting Hon. Secretary to the Trustees

J. Gass

Centre Manager

M. Pearse

Treasurer

L. Meagher

Accountants Bankers Andersons Accountancy Services Ltd Barclays Bank 10 The Cedars Abergavenny Branch Llanfoist 57 Frogmore Street Abergavenny Abergavenny NP7 9LX NP7 5AT

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Abergavenny Community Trust CIO

Report of the Trustees for the Year Ended 30 October 2020

OBJECTIVES AND ACTIVITIES

Our aims

The trustees have identified the Trust’s purpose to be to create a space for people to come together under one roof; enabling social connection and resilience.

Our strategic aims are to:

Our objectives

The Charity’s objectives are to:

a) promote the benefit of the inhabitants of Abergavenny and district, without distinction of sex, sexual orientation, race or of political, religious or other opinions by associating together the said inhabitants and the local authorities, voluntary and other organisations in a common effort to advance education and to promote facilities in the interests of social welfare for recreation and leisure time occupation with the objective of improving the conditions of life of the said inhabitants.

b) establish or secure the establishment of a community centre and to maintain and manage the same (whether alone or in co-operation with any local authority or other such person or body) in furtherance of these objects to include income generation from rents for the sole purpose of maintaining the building’s structure and promote its use as a community centre.

Strategies

In furtherance of the Trust’s strategic aims outlined above, the following developments have taken place during the year:

Investment in the Building and Grounds

Building work funded by grants of £150,000 from the Garfield Weston Foundation and £25,000 from Abergavenny Town Council to refurbish the toilets, improve accessibility, create a welcome area and install new central heating was completed by mid-November. The automatic entrance door and accessible toilet with baby changing facilities have made a significant difference for Centre users. The removal of the old toilets and their false ceilings has transformed the feel of the building allowing much more light in.

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Abergavenny Community Trust CIO Report of the Trustees for the Year Ended 30 October 2020

Redecoration of parts of the building has been carried out by volunteers and the floor of the main hall has been sanded and re-varnished.

A Sustainable Drainage Scheme funded by Keep Wales Tidy has involved improvements to the grounds including tree and hedge planting, new raised beds, several fruit trees in pots and a small wildflower meadow.

Energy efficiency and improvement to our environmental footprint

LED lighting has been installed throughout the building thanks to a grant from the EU funded Rural Development Project as part of a scheme for installing LED lighting in village halls and a donation from Huw and Mary Morgan. The latter donation also paid for a new suspended ceiling and insulation at the top end of the hall.

The Sustainable Drainage Scheme funded by Keep Wales Tidy has provided planters that store rainwater from the roof, which together with new large water butts should replace the need for mains water in the garden.

More partnerships to further common aims

New partnerships during the year have included:

Fundraising

Whilst our Fundraising Plan has continued to prioritise investment in the building in order to reduce running costs, Covid 19 has interrupted this. Priority has had to be given to seeking funds to enable us to respond to the new situation and local needs, alongside ensuring the sustainability of the Trust and covering core costs once trading income dried up. Notably, a grant from Gwent Association of Voluntary Organisations enabled us to run outdoor learning through play activities during the summer for local families and children. At a time when indoor activities were still not permitted, these sessions made good use of the grounds and were a welcome opportunity for families whose lives had been restricted.

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Abergavenny Community Trust CIO Report of the Trustees for the Year Ended 30 October 2020

Use of volunteers

Up until ‘lockdown’ we have had fifty regular volunteers of whom fifteen have been highly committed and thirty-five committed. They help in the kitchen, preparing and serving meals, clearing away and washing up; befriend lonely and isolated people who come to the Centre; staff the Welcome Room every morning; write applications for funding; plan and manage fundraising events; help maintain the building and outside areas; tend the garden; run the Community Kids parent & toddler group; undertake research; and support the Manager and Trustees on financial management, fundraising and administration.

Throughout ‘lockdown’ volunteers have continued to care for the garden. During the partial reopening of the Centre in the Autumn there were limited opportunities for volunteers to return. Following the success of the outdoor play sessions in the summer, the volunteers with Community Kids ran their sessions in the grounds.

Trustees have adopted a policy for managing and supporting volunteers.

Page 5

Abergavenny Community Trust CIO Report of the Trustees for the Year Ended 30 October 2020

ACHIEVEMENTS AND PERFORMANCE

Covid-19 impact

The Covid-19 pandemic has had a significant impact on what the Trust could achieve. The year can be considered in three phases - Pre-lockdown, Lockdown and Partial re-opening.

Pre-lockdown

Between the beginning of November and early March there was a regular pattern of activities run by the Trust. These included a weekly coffee morning attended by an average of 38 people, See You for Lunch on Wednesdays which regularly attracted more than 30 people, monthly Sunday afternoon teas attended by an average of 20 people and soup on Fridays for an average of 15 people. Several craft groups took place each week as well as the volunteer-run Community Kids Parent & Toddler Group.

Over these months an average of 600 people were using the Centre each week. By enabling people to socialise, the Centre has reduced loneliness, nurtured friendships and created new opportunities. Our kitchen was bustling several days a week and our meeting rooms were being booked out for one off events or weekly sessions by a wide variety of community groups, statutory bodies and small businesses. Some of these were self-help groups that were being supported through subsidised room hire charges in line with our public benefit policy. A new booking for the Centre was the local Member of Parliament requesting a room for his surgery.

Following completion of the major building work, the beautiful new Welcome Room opened on November 14[th] providing a drop-in facility for regular users and visitors every morning staffed by a team of eight volunteers. This has enabled us to fulfil the aim of providing a welcoming atmosphere in which we are able to discover the needs of our users and potential users. Over the first ten weeks 454 contacts were made. The room also became a venue for new activities including the Syrian Conversation café, French conversation group, IT advice surgery, and a legal information session.

Lockdown

On March 24[th] the Centre was closed to the public in line with Welsh Government guidance. With the exception of the Manager, staff were furloughed. The building remained closed to the public until the easing of restrictions in September.

By the time the Centre closed the freezer was fully stocked with ready-made meals in preparation for distribution to vulnerable people. The Manager kept in touch with regular users of the Centre’s food related activities, distributing meals to some of these users and to people hitherto unknown to the Centre including residents of the local women’s refuge, and people who were shielding. She also maintained links with local partners in the town, such as Gateway Church, Aneurin Bevan UHB Community Mental Health Team, Food Bank, Street Monitors & Cyfannol (Women’s Aid), to make them aware of the availability of volunteer support, and meals.

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Abergavenny Community Trust CIO Report of the Trustees for the Year Ended 30 October 2020

The Manager also received numerous requests for help, sometimes signposting people to the Street Monitors network or the Food Bank, sometimes responding directly by going shopping for very elderly people or isolating households, paying another person’s electricity bill at the Post Office or sourcing clothes for infants and children at the women’s refuge.

Throughout this period the team of garden volunteers continued to care for the grounds and keep the garden well-watered. This activity gave some of the volunteers a valuable sense of purpose in a difficult time. Later in the year local children attending outdoor play sessions would enjoy helping themselves to soft fruits from the walled garden. This was also when the Keep Wales Tidy project referred to elsewhere was being planned and developed.

By May, a working group of trustees had begun to plan for the post-lockdown period, and the Manager was consulting regular users including room hirers to inform this planning, gauging their readiness to return and the conditions they would expect. The immediate priority for the working group was to identify what was needed to make the Centre safe for staff, volunteers and users. A successful application was subsequently made to the Wales Coronavirus Resilience Fund for £1800 for PPE. Other priorities were to develop alternative scenarios for re-opening to assist with financial forecasting, consider how to build confidence in the community in coming out and being with other people and identify new uses for the building and new ways of working.

Towards the end of this period in preparation for re-opening the Manager liaised with Monmouthshire’s Environmental Health staff, undertook the necessary Health & Safety assessments and installed various items of PPE. Following advice regarding the risk of transmitting the virus through aerosol settling on carpets, it was decided to remove the carpets in all three meeting rooms.

In response to the virus and not being able to use the building, funding was sought successfully to trial a number of outdoor play sessions for local families and children making full use of the grounds as a learning resource. A marquee was borrowed from a local charity and subsequently the local Rotary Club made a donation to purchase one for future use. In order to comply with the restrictions in place at the time, there had to be a ratio of two families to one play worker, with four families involved in each session. Despite this thirty-two households took part over nineteen sessions. Fifty children were involved with a total of 116 attendances.

Applications were now made to the Integrated Care Fund and Tesco Bags of Help for funding a new way of working with elderly people who might now be confined to their homes because of the virus. The idea was to be able to livestream activities from the Centre such as the popular Chair Yoga into people’s homes and to facilitate virtual coffee mornings to overcome isolation. A set of tablets would be loaned to people without IT equipment and support provided to help them to use them.

During this time various improvements to the building were carried out including the LED lighting and re-varnishing of the main hall floor part-funded by a grant from the Town Council.

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Abergavenny Community Trust CIO

Report of the Trustees for the Year Ended 30 October 2020

Partial re-opening

The third phase from September to the end of October involved a very gradual re-opening for ‘permitted’ activities only, which in the case of the Centre meant exercise. Several groups began to meet at the Centre again. The Community Kids Parent and Toddler Group met outside.

This was also a time of preparation for the days ahead when further relaxation of restrictions would allow the Centre to host coffee mornings and meals again, albeit for much smaller numbers in order to comply with social distancing.

How our activities deliver public benefit

The charity’s activities are open to the general public.

Our food related activities in particular benefit members of the public, promoting wellbeing by addressing problems of social isolation and loneliness. At the weekly coffee mornings, refreshments are made available for a donation however small.

Some informal groups, such as the Friday sewing group where people share skills on a voluntary basis meets free of charge alongside the coffee morning. Room hire charges for self-help groups such as the Lonely parents Club & Aphasia Café are subsidised by the Trust.

Our grounds are open to the public and are valued by local families who throughout lockdown have benefitted from coming with their children to enjoy the green space and observe nature, as well as older people who have enjoyed coming for a stroll round.

Our food related activities – both growing and cooking – provide much needed opportunities for volunteering & skill sharing. We are aware of how important the garden has been especially during lockdown for wellbeing of our volunteers. We were about to start a research project to investigate the impact of volunteering when lockdown interrupted it.

Other charities have continued to benefit from the Centre, including Tools for Self-Reliance Cymru that made use of a temporary building for its sewing machine repair workshop up until lockdown.

In addition, the partnership with the Gateway Church in the town centre involved our chef and volunteers turning supermarket ‘waste’ into fifty nutritious meals on a weekly basis which are provided free to people experiencing food poverty continued until December 2019.

A further example of public benefit is the managing of the minibus for community use. The minibus was donated to the Trust for this purpose and has been hired out on a not-for-profit basis. However, trustees took the decision to sell the minibus towards the end of the year as it was no longer financially viable.

Several groups that are not constituted have benefited from the Trust acting as agent for them by, for example, holding grants for them. These include the Abergavenny Repair Café and GoGo Disco.

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Abergavenny Community Trust CIO Report of the Trustees for the Year Ended 30 October 2020

This removes barriers in the way of new activities getting off the ground meaning they are more likely to be sustained in the longer term.

Partnership working

We work with a wide range of partners from the public and private sectors as well as voluntary organisations and community groups. We also work with individuals who bounce off ideas with us and start new ventures.

Significant public sector partners are Monmouthshire County Council and Abergavenny Town Council. The community centre is based in a former Infants School built in Victorian times which has been leased (on a full repairing basis) to the Trust by the County Council since January 2015. At the end of the initial three year lease, the County Council agreed a 25 year lease during 2018, which is still to be finalised. The Trust benefits from a rent reduction of 80%.

The Funding Partnership that was agreed with Abergavenny Town Council in the previous year is still in place and we have reported on our contribution to the Council’s objectives in relation to the Well-being of Future Generations Act during the first year.

Another valued public sector partner is the Aneurin Bevan University Health Board which holds regular stress control courses at the centre. Staff described the impact of the venue on participants as reducing stigma because ‘it is non-clinical, normalised’ and ‘inspiring’ in that people have been encouraged to join in with other activities which aid recovery. The venue was ‘perfect, it works so well’.

We appreciate very much the relationship we have with Abergavenny Rotary Club which has supported us with two donations during the year. A gift of £900 has enabled us to buy a marquee to support a new range of outdoor activities and one of £500 will go towards the cost of sanding & re-varnishing the floor of one of our meeting rooms following our decision to take up the carpet to limit the risk of transmitting the virus.

We have benefitted from the support of renowned local chef, Franco Taruschio, who has trained volunteers in our Community Kitchen increasing their confidence and developing skills. His involvement with the Trust also raises awareness of our role in the wider community.

Following work with MENCAP with their Social Networks Lottery Funded project in 2017/18 when the Centre hosted an exhibition that explored attitudes to people with learning difficulties, we provided one of a number of venues around the country for an audio exhibition in the newly furbished Welcome Room. Over a period of several weeks this exhibition highlighted some of the barriers that young people with learning difficulties run into as they try to negotiate received 'mainstream norms'.

Page 9

Abergavenny Community Trust CIO

Report of the Trustees for the Year Ended 30 October 2020

FINANCIAL REVIEW

Restating 2019 Accounts

The accounts of the previous year have been restated to correct the treatment of £181,261 of restricted income which had previously been treated as deferred and included in the ‘creditors’ total on the Balance Sheet. This income, which mostly relates to building improvements, has been restated to restricted income in the 2019 Statement of Financial Activities. This results in a total carry forward of restricted funds of £181,759. The restatement only relates to restricted funds, the unrestricted funds in the 2019 accounts remain unchanged.

Financial Performance 2020

Core Activities

The Trust usually generates the majority of its charitable income for its core activities through:

With the Covid-19 lockdown and partial reopening restrictions the Trust’s income from these activities has reduced to almost half of the previous year’s total, with £29,694 of income generated in 2019/20 compared to £58,322 generated in the previous financial year.

The Trust’s fundraising efforts in 2019/20 were more focused on maintaining and increasing our donations from individuals during the Centre closure, and on securing grant funding to cover the core running costs of the Centre and the future sustainability of the Trust. To this end, the Trust increased its income from unrestricted donations by £2,257 to £10,745 and it was also successful in securing a number of Covid-19 related grants totalling £41,530. The majority of these grants (which totalled £16,530) were restricted to specific salary and premises running costs in 2019/20. The remaining £25,000 Business Support Grant from Welsh Government is unrestricted and Trustees have designated this to a specific reserve at year end to fund the ongoing detrimental financial impacts of Covid-19 from November 2020 onwards.

In addition to the income changes highlighted above, the Trust secured a three-year partnership agreement with Abergavenny Town Council during 2019 which provides an annual unrestricted grant of £10,000 (£5,000 in 2018/19). The Trust’s expenditure was reduced by c£7,000 during the lockdown and partial reopening periods on such items as food and drink purchases, caretaking, general cleaning and utilities.

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Abergavenny Community Trust CIO Report of the Trustees for the Year Ended 30 October 2020

Overall on core activities, the Trust suffered a net loss of £16k due to reduced charitable income during the lockdown and partial reopening periods. However, as mentioned above, the Trust was successful in securing Covid-19 grants for core costs and was therefore able to cover this loss and secure a breakeven position.

In addition, the inclusion of the £25,000 unrestricted Business Support Grant received from Welsh Government, a payment in advance of £5,000 grant income for 2020/21 and the surplus generated from the disposal of the Trust’s minibus, means that the Trust has generated a net surplus of income over expenditure of £32,925 on unrestricted funds in 2019/20.

Restricted Funds Activities

The Trust received £42,435 of restricted income in 2019/20, of which £32,172 related to revenue items and £10,263 to capital expenditure.

Revenue items:

Fund Income /
Transfers		 Balance Funders Status
Covid-19
Support		 £17,990 £1,460 The Moondance Foundation,
HMRC CJRS, Community
Foundation Wales, CV
Resilience Fund.		 All spent. £1,460 balance
relates to income in advance
for November and December
2020.
Supporting
families and
outdoor
activities		 £4,787 £2,198 GAVO, Rotary Club, individual
donations.		 Ongoing, marquee to be
erected for 2021 activities.
Technology
improvement		 £950 £850 Tesco ‘bags of help’ individual
donations.		 Ongoing, equipment
purchases,website
Hosting
support for
community
groups		 £1,250 £1,568 The Repair Café and GoGO
disco.		 Ongoing
External
access repairs		 £1,070 £1,070 Individual donation. A source of match funds for
grant bid.
Flooring
replacement		 £5,125
£1,000		 £5,125 GAVO, Town Council, Rotary
Club, individual donations.		 Ongoing. Main hall complete,
3 more rooms planned in
2020/21.
TOTAL
Revenue		 £32,172 £12,271

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Abergavenny Community Trust CIO Report of the Trustees for the Year Ended 30 October 2020

Capital items:

Fund Income /
Transfers		 Balance Funders Status
Garfield Weston, Complete. Balance will fund
Building
improvements		 £2,930 £163,244 Abergavenny Town
Council, individual		 annual depreciation charge
over the remaining life of the
donation. lease.
ECO/
environmental
improvements		 £3,000
(£1,000)		 £7,117 Individual donation,
MCC RDF grant.		 Ongoing. Balance to fund
remaining improvements and
associated depreciation.
Capital
equipment		 £5,333 £3,725 GAVO, Monmouthshire
Building Society,
individual donations.		 Complete. Balance will fund
annual depreciation charges.
TOTAL Capital £10,263 £174,086

Reserves - policies and balances

Unrestricted funds balance

The charity aims to maintain a general unrestricted reserve funds balance of at least £15,000. The purpose of this policy is to have sufficient resources to cover at least two month’s expenditure at any one time. The opening balance on unrestricted funds in 2019/20 is £23,076. With the addition of the surplus income generated in year of £32,925, the closing unrestricted funds balance increases to £56,001.

Trustees had previously agreed to designate £5,000 of the unrestricted funds balance towards the cost of major building improvements which were completed in November 2019. This designation has been actioned in 2019/20, and the £5,000 balance will reduce annually by the associated depreciation charge. The closing balance on this fund is £4,792.

Trustees have also agreed to designate funds of £25,000 to a ‘Covid-19 reserve’ to provide financial support from November 2020 onwards. This will cover income shortfalls whilst Covid-19 restrictions are still in place and thereafter, as activities and users slowly return to the Centre over a period of time. Trustees have also agreed to designate funds of £2,900 to a ‘maintenance programme reserve’ to cover future maintenance costs over and above the annual budget provision. The £2,900 covers £1,700 which has been set aside for replacement flooring following the removal of carpets and £1,200 has been set aside for future general maintenance requirements.

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Abergavenny Community Trust CIO

Report of the Trustees for the Year Ended 30 October 2020

Following these delegations, the closing balance on general unrestricted reserves is £23,309. As previously mentioned, this includes a grant of £5,000 for 2020/21 which was received in advance in October 2020.

Restricted funds balance

The restricted reserves balance at the end of 2019/20 is £186,357. This balance is made up of the following:

Revenue items £12,271 to be spent in 2020/21.
Capital items £4,247 to be spent in 2020/21.
Capital items £169,839 spending complete, fund balance is to cover future
depreciation and amortisation costs.

The details are shown above under ‘Restricted funds activities’.

Investments - policies and balances

The Trust has a current account and a deposit account with Barclays Bank. The deposit account is used for more significant cash deposits received in advance of expenditure taking place, for example capital grants, and for the general unrestricted reserves balance. The objective is to provide a lowrisk savings option to earn some interest before the expenditure takes place. The balance on the deposit account at 31[st] October 2020 was £63,966.

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Abergavenny Community Trust CIO

Report of the Trustees for the Year Ended 30 October 2020

PLANS FOR FUTURE PERIODS

We recognise that, given the temporary loss of trading income, we need to seek funding for specific activities.

Early in the 2020/21 financial year several applications were made for new projects. Funding has been sought from the Rural Development Project for a Community Larder project which will involve supporting other local community food initiatives. An application to the Gwent Police & Crime Commissioner, if successful, would fund a three-year project with young people at risk of exclusion from the local comprehensive school. This project would create an alternative learning environment using our growing space and the commercial kitchen where participants would gain a range of skills in addition to cooking including team working & problem solving.

Building on the achievements of the Outdoor Learning activities during the summer, funding will be sought to expand this area of work with children and families.

A pilot project funded by the local Health Board’s Integrated Care Fund will enable activities to be livestreamed from the Centre to the homes of isolated, elderly people and virtual coffee mornings will be co-ordinated from the Centre.

During the coming year we will be fundraising to enable us to increase our staff capacity and provide better support for volunteers and helpers.

We will seek funding for more improvements to the building aimed at improving energy efficiency further including double glazed windows, roof insulation and solar panels thereby cutting carbon emissions and reducing the Centre’s running costs.

With continuing uncertainty about how long it will take to recover from the impact of Covid 19 on our trading income, we aim to increase the amount of regular giving by community members to help cover core costs and will upgrade our website to enable online donations.

Now that our landlord has given permission in principle, we intend to investigate funding opportunities to install EV charging points in the grounds for use by residents of the neighbouring streets where lack of off-street parking prohibits home charging.

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Abergavenny Community Trust CIO

Report of the Trustees for the Year Ended 30 October 2020

STRUCTURE, GOVERNANCE & MANAGEMENT

Governing document

Abergavenny Community Trust is constituted as a Charitable Incorporated Organisation registered with the Charity Commission in February 2018 under charity number 1177133. It is governed by a deed of trust dated 25 January 2018.

Organisational Structure

The charity trustees are responsible for the overall direction and management of all the activities of the charity which are delivered principally through the Abergavenny Community Centre. The trustees give their time freely and receive no remuneration or other financial benefits.

At the year end the Trustee Board comprises ten members. There are three committees:

Finance, Estates, and Processes, Research, Evaluation & Planning (PREP).

The charity’s normal six weekly meeting cycle, during which the committees meet at least once in order to report and make recommendations to the Board, was adapted following the first lockdown (see Risk management section below).

A volunteer acts as Secretary to the Board, whose role is to convene meetings, draft minutes, prepare reports and perform clerical tasks as required.

The day-to-day management of the Trust is delegated to the Centre Manager who reports to meetings of the Board and its committees. The Centre Manager is employed on a part-time basis and supports a small team of part-time staff comprising a Chef, Kitchen Assistant and Caretaker/Janitor [This post has not been filled since March]. Cleaning services are contracted out (as required).

During the year the Trust appointed a volunteer to the role of Treasurer to strengthen financial management and controls. The Trust buys in book keeping on a freelance basis and contracts out for payroll services.

Recruitment and appointment of trustees

There has been no change to the membership of the Board of Trustees during the year.

Risk management

The risks associated with the Covid 19 pandemic - for staff & volunteers, members of the community & Centre users, and the sustainability of the Trust - have been uppermost in the minds of Trustees and staff from March to the end of October.

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Abergavenny Community Trust CIO Report of the Trustees for the Year Ended 30 October 2020

Trustees acted decisively in early March once the seriousness of the virus was first appreciated. At a scheduled meeting on March 4[th] , the Trustee Board took some immediate steps to reduce risks of infection and agreed to hold an emergency meeting if necessary. In a fast moving situation an emergency meeting was held on March 13[th] when it was decided to suspend all group activities run by the Trust and to delegate authority to one of the Co-Chairs to close the Centre if required. On March 24[th] the Centre was closed to the public in line with Welsh Government guidance and staff were furloughed. Soon after, the manager returned to work following the award of a grant from the Moondance Foundation.

Trustees took the decision to meet via Zoom at monthly intervals thereafter compared with the usual 6 weekly cycle receiving reports on the Manager’s work with the community, regular finance updates including reports on income generation and a formal Covid risk assessment. The six weekly cycle was re-instated following the August meeting by which time the pandemic appeared to be easing. Covid risk assessments and financial monitoring continued throughout.

Prior to the partial re-opening of the Centre in September, a Health and Safety Risk Assessment was carried out and submitted to the local Environmental Health Officers.

Apart from the risks posed by Covid to both health and the viability of the Trust, risks associated with the building and day to day running of the Community Centre have been monitored in line with the Risk Management policy.

Approved by Trustees on 15[th] April 2021 and signed on their behalf by

N.R.C. Hoyal Trustee 15[th] April 2021

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Abergavenny Community Trust CIO INDEPENDENT EXAMINERS REPORT

Independent Examiner's Report to the Trustees of Abergavenny Community Trust CIO

I report on the accounts of Abergavenny Community Trust CIO for the year ended 31[st] October 2020, which comprise the Statement of Financial Activities, the Balance Sheet and the related notes.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under the Charities Act 2011, s.144(2) (the 2011 Act) and that an independent examination is needed.

Having satisfied myself that the charity is not subject to audit under charity law and is eligible for independent examination, it is my responsibility to:

examine the account s under s.145 of the 2011 Act;

to follow procedures laid down in the general Directions given by the Charity Commission under s.145(5)(b) of the 2011 Act; and

to state whether particular matters have come to my attention.

Basis of independent examiner's report

My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair" view and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

have not been met: or

Mary Anderson FCA, ICAEW

Andersons Accountancy Services Ltd

Page 17

Abergavenny Community Trust CIO STATEMENT OF FINANCIAL ACTIVITIES

for the year ended 31 October 2020

Notes
Income and endowments
from:
Donations and legacies
3
Charitable activities
4
Investments
5
Other
6
Total
Expenditure on:
Charitable activities
7
Total
Net gains on investments
Net income
8
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
Restricted
Total
Restated
funds
funds
funds
Total funds
2020
2020
2020
2019
£
£
£
£
10,745
8,385
19,130
20,988
69,443
34,050
103,493
241,522
107
-
107
289
-
-
-
3,387
80,295
42,435
122,730
266,186
47,370
37,837
85,207
93,015
47,370
37,837
85,207
93,015
-
-
-
-
32,925
4,598
37,523
173,171
32,925
4,598
37,523
173,171
32,925
4,598
37,523
173,171
23,076
181,759
204,835
31,664
56,001
186,357
242,358
204,835

Page 18

Abergavenny Community Trust CIO BALANCE SHEET

at 31 October 2020

Notes
Fixed assets
Intangible assets
11
Tangible assets
12
Current assets
Debtors
13
Cash at bank and in hand
Creditors:Amount falling due within
one year
14
Net current assets
Total assets less current liabilities
Net assets excluding pension assets/liability
Total net assets
The funds of the charity
Restricted funds
Restricted income funds
15
Unrestricted funds
General funds
15
Designated funds
15
Reserves
15
Total funds		 2020
£
£167,298
£13,627
£180,925
£3,812
£73,712
£77,524
(£16,091)
£61,433
£242,358
£242,358
£242,358
£186,357
£186,357
£23,309
£32,692
£56,001
-
£242,358		 Restated
2019
£
£156,776
£13,398
£170,174
£6,359
£137,640
£143,999
(£109,338)
£34,661
£204,835
£204,835
£204,835
£181,759
£181,759
£23,076
-
£23,076
-
£204,835

Approved by Trustees on 15[th] April 2021 and signed on their behalf by

N.R.C. Hoyal Trustee 15[th] April 2021

Page 19

AbefEavenny Community Trust CIO 140TES TO THE Accouwfs for the ￿•r 31 OctobÈr 2020 l Attountln8 poll¢l•s Basls ol yeparntlon The tinancial statements have been prepared in accordaTrEe with StsterTrent ol Recomfnended Practice-. Accounting and Rewrtlng by Charities prepJrln8 thelr accounts in acfordance with the Financial Reporting Standard applicable in the UK and Republic rf Ireland {FRS 102) i55ued on 16 Julv 2014 and the Flnanclal Reming Slandard applicable in ihe United Klngdom and Republic of Ireland IFRS 102) arHI the Charitles Act 2011. Change in basi5 of accountry or to Fweviou5 ¥ccountS The pre¥ious year has been restaled to corfect the treatment of Income whlch had prevlotssly been treated as deferred. This has resulted in £181.759 of income originally treated as delerred bein8 included In the ieslnCt￿ income 012019. Fund •c(oufttln¢ Unrestricted funds These are available for use at the discretion of the trustees in furtherance of the general obfrects of the chèrltv. These are unrestricted furbds earmarked by the trustees fof particular purposeL These are unrestr•cted furbds whlch Irbdude a revaluatlon reser¥e fepre5entln8 the restatement of investment assets at thelr market values. These are available for use subiect to restrictlons Imposed by the donor or throu8h term5 of an appeal. Designated funds Revaluatson ful￿5 Restricted fund5 Recognition of income Income is Included in the Statement ol Flnanclal Actrvltles (SOFAJ when the tharity become5 entirled to. and virtually certain to receive. the income and ihe amouni of the ir)tome can be measurtd with suffitlent reliability. Income wlth felate(I Where irtrcome has related expenditure the Ineome and felated expendlture Is empenditure reported gross in the SOFA_ Donatlorns and legaoes Voluntary Sncome retelved by way of 8rants. donalions and 81ft5 Is in(luded In the the SOFA when receivable and only when the Charity has unconditional entltlement io the income. Tax reclaims on Income from ta¥ re¢laim5 is included in the SOFA at the same time as the donations and glfts £ift/donation to which It relates. Donated services These are onty Included in Income Iwith an equivalen¢ amount in expenditure) and facilitie5 where the bEnefit to the Charity 15 rea50nabty quantiliable, measurable and materlal. Volunteer help The value of any vulunteer help reteived 15 not included in the accounts. Investment i￿orne Thls is Irbcluded In the Kcounts when recelvable. Garnslllossesl on This includes any gain or 1055 re54Jlting f rom revaluirbg investment5 to market revaluation of flxed value at the end of the year. asset5 Ga•ns/llosses) on investment asset5 Thls includes any 8a•n or loss on the sale of Investments. Page 20

Aberzavenny Community Trt￿t ao NOTES TO THE ACCOUNTS EApendltur R￿oSnitb0n of expendlture E¥pendtture 15 recogni5ed on an accruals basis. Expenditure irbdudes any VAT which cannot be fvlly recovered, and is reported as part of the ejpenditure to which it relate5. E#pendltvre on These comprise the tosts aSSQ¢iaiÈd with aiiffa¢tlfi8 voluntary Sntome. ra15in8 funds fundra151ng tradln8 CQSts and investment management CQ5ts. Empenditure on These compnse the costs incurred by the Chanty in the delivery of its artivities charltable 4Ktlvl¢le5 and Services In the furtherance of rts objects, Includln8 the making of 8rants and governance c05t5. All grant expendliure Is accounted fof on an actual paKI ba$15 plus an accrual for grants that have been approved by the trustees at the end of the year but not vei paid, These indude those costs associated wilh rneetin8 the C{￿$titUtiOnal and 51aluiOry requlfemenrs ol ihe (harilv. Includln8 any audlllindependent examinit>on fee5. C0515 linked to the 5trategK management of the Charity. Iogelher wlth a share ol other admlnlsiration costs, These are support costs not allocated to a particular attivity. Grants payable Govemance c05t5 Other expenditure T•x•llon The charity is exempt fmm tax on its tha11￿ble activities. Tan8ible fixed assets aml depreciation Depre(iatlon is pfovlded al the followlnB annual rotes In older to write off each asset over bts estimated useful life- Molor Vehlcles 25%% strawht line Equlpment. fixtu￿ at)d ffttings 25%% Stra￿ht line In¢n￿bkn Ilx•d •ss•ts •nd •mortls•tloh Iniangible fixed assets (including purchased go¢ylwill, patents and trademarks} art ¢arrled at tost less accumulated amortisation and Impaiiment1055e5. Trade and oth¢r debto Trade and other debt<br5 are recognised at the settlement amount due after any trade discount offered_ Prepaymen15 art valued ai tht amount prepaSd nei of any trade dls¢ounts due. Cash •nd ush •9￿￿1￿1$ Cash and cash equivalents comprise cash at bank and on hand, dEmand deposits with banks and other short.term hl8hly Ilquld In¥esiments wlth orl4lnal maturltles of three months or less •nd bank overdraft5. In the statement of financial PDSitlon. bank overdrafts are shown within borTowing5 or current Iiablllties. In the Statement of Cash Flows, cash and cash equI￿lentS are shown rnet of bank overdraft5 that are repayable on demand and form an integral part of the compan￿5 cash mana8emÈnt. Page 21

Abergavenny Community Trust CIO NOTES TO THE ACCOUNTS for the year ended 31 October 2020

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.

Pensions

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid the charity has no further payment obligations. The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the charity in independently administered funds.

2. Statement of Financial Activities - prior year

Income and endowments from:
Donations and legacies
Charitable activities
Investments
Other
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		 Restated
Restated
Unrestricted
Restricted
Total
funds
funds
funds
2019
2019
2019
£
£
£
8,488
12,500
20,988
63,322
178,200
241,522
289
-
289
127
3,260
3,387
72,226
193,960
266,186
76,879
12,202
89,081
3,934
-
3,934
80,813
12,202
93,015
(8,587)
181,758
173,171
(8,587)
181,758
173,171
(8,587)
181,758
173,171
31,664
-
31,664
23,077
181,758
204,835

Page 22

Abergavenny Community Trust CIO NOTES TO THE ACCOUNTS for the year ended 31 October 2020

Unrestricted
Restricted
Total
Restated
2020
2020
2020
2019
3. Income from donations and legacies
Donations and legacies
10,745
8,385
19,130
20,989
10,745
8,385
19,130
20,989
Unrestricted
Restricted
Total
Restated
2020
2020
2020
2019
4. Income from charitable activities
Grants
39,749
34,000
73,749
183,200
Room hire
17,469
-
17,469
32,673
Food, refreshments
7,169
-
7,169
13,900
Catering
1,201
-
1,201
4,956
Minibus hire
1,370
-
1,370
2,530
Other
2,485
50
2,535
4,263
69,443
34,050
103,493
241,522
Unrestricted
Total
Restated
2020
2020
2019
5. Income from investments
Income from investments
107
107
289
107
107
289
Total
Restated
2020
2019
6. Other income
Other income
-
3,386
-
3,386		 Unrestricted
Restricted
Total
Restated
2020
2020
2020
2019
3. Income from donations and legacies
Donations and legacies
10,745
8,385
19,130
20,989
10,745
8,385
19,130
20,989
Unrestricted
Restricted
Total
Restated
2020
2020
2020
2019
4. Income from charitable activities
Grants
39,749
34,000
73,749
183,200
Room hire
17,469
-
17,469
32,673
Food, refreshments
7,169
-
7,169
13,900
Catering
1,201
-
1,201
4,956
Minibus hire
1,370
-
1,370
2,530
Other
2,485
50
2,535
4,263
69,443
34,050
103,493
241,522
Unrestricted
Total
Restated
2020
2020
2019
5. Income from investments
Income from investments
107
107
289
107
107
289
Total
Restated
2020
2019
6. Other income
Other income
-
3,386
-
3,386		 Unrestricted
Restricted
Total
Restated
2020
2020
2020
2019
3. Income from donations and legacies
Donations and legacies
10,745
8,385
19,130
20,989
10,745
8,385
19,130
20,989
Unrestricted
Restricted
Total
Restated
2020
2020
2020
2019
4. Income from charitable activities
Grants
39,749
34,000
73,749
183,200
Room hire
17,469
-
17,469
32,673
Food, refreshments
7,169
-
7,169
13,900
Catering
1,201
-
1,201
4,956
Minibus hire
1,370
-
1,370
2,530
Other
2,485
50
2,535
4,263
69,443
34,050
103,493
241,522
Unrestricted
Total
Restated
2020
2020
2019
5. Income from investments
Income from investments
107
107
289
107
107
289
Total
Restated
2020
2019
6. Other income
Other income
-
3,386
-
3,386		 Unrestricted
Restricted
Total
Restated
2020
2020
2020
2019
3. Income from donations and legacies
Donations and legacies
10,745
8,385
19,130
20,989
10,745
8,385
19,130
20,989
Unrestricted
Restricted
Total
Restated
2020
2020
2020
2019
4. Income from charitable activities
Grants
39,749
34,000
73,749
183,200
Room hire
17,469
-
17,469
32,673
Food, refreshments
7,169
-
7,169
13,900
Catering
1,201
-
1,201
4,956
Minibus hire
1,370
-
1,370
2,530
Other
2,485
50
2,535
4,263
69,443
34,050
103,493
241,522
Unrestricted
Total
Restated
2020
2020
2019
5. Income from investments
Income from investments
107
107
289
107
107
289
Total
Restated
2020
2019
6. Other income
Other income
-
3,386
-
3,386
69,443
34,050
103,493
241,522
Unrestricted
Total
Restated
2020
2020
2019
107
107
289
107
107
289
Total
Restated
2020
2019
-
3,386
-
3,386
107 107
289
Total
Restated
2020
2019
-
3,386
-
3,386

Page 23

Abergavenny Community Trust CIO NOTES TO THE ACCOUNTS

for the year ended 31 October 2020

Unrestricted Restricted Total Restated
2020 2020 2020 2019
£ £ £ £
**7. ** Expenditure on charitable activities
Fundraising 1,166 - 1,166 250
Kitchen labour costs 4,186 2,834 7,020 7,527
Kitchen food and drink costs 1,867 - 1,867 7,294
Class teachers 350 2,456 2,806 770
Wages and salaries 10,555 7,297 17,852 19,739
Employers NIC and pension costs 22 35 57 5
Rent and rates 1,177 1,009 2,186 2,203
Light and heat 4,169 1,640 5,809 7,405
insurance 1,057 1,071 2,128 2,532
Repairs and maintenance 5,896 9,662 15,558 21,063
Cleaning 4,238 446 4,684 2,207
Telephone and fax 681 474 1,155 916
Stationary, printing and postage - - - 163
Advertising 1,198 25 1,223 918
Bad debt 228 - 228 105
Licences and subscriptions 694 - 694 574
Sundry 476 585 1,061 402
Minibus costs 2,020 - 2,020 1,750
Profit on disposal of asset (2,250) - (2,250) 0
Amortisation 208 7,362 7,570 6,816
Depreciation 5,932 2,567 8,499 6,442
Governance costs:
Accountancy and inspection 1,200 - 1,200 1,980
Legal fees 900 - 900 -
Payroll and bookkeeping 1,400 374 1,774 1,954
47,370 37,837 85,207 93,015
2020 2019
**8. ** Net Income £ £
This is stated after charging:
Independent Examiner's fee 1,200 1,980

9. Trustees' remuneration and expenses

None of the Trustees have been paid any remuneration in the current or prior periods.

Page 24

Abergavenny Community Trust CIO NOTES TO THE ACCOUNTS for the year ended 31 October 2020

10. Staff costs

No employee received emoluments in excess of £60,000. The charity pension scheme for auto-enrolment is Nest.

11. Intangible fixed assets
Cost
At 1 November 2019
Additions
At 31 October 2020
Amortisation and impairment
At 1 November 2019
Amortisation charge for the year
At 31 October 2020
Net book values
At 31 October 2019
At 31 October 2020
12. Tangible fixed assets
Cost or revaluation
As at 1 November 2019
Additions
Disposal
At 31 October 2020
Depreciation and impairment
As at 1 November 2019
Depreciation charge for the year
Disposal
At 31 October 2020
Net book values
At 31 October 2019
At 31 October 2020		 Other
Total
Restated
2020
2020
2019
£
£
£
163,592
163,592
-
18,092
18,092
163,592
181,684
181,684
163,592
6,816
6,816
7,570
7,570
6,816
14,386
14,386
6,816
156,776
156,776
-
167,298
167,298
156,776
Equipment,
Motor
fixtures
vehicles
& fittings
Total
£
£
£
1,000
24,767
25,767
-
9,228
9,228
(1,000)
-
(1,000)
0
33,995
33,995
500
11,870
12,370
-
8,498
8,498
(500)
-
(500)
0
20,368
20,368
500
12,897
13,397
-
13,627
13,627

Page 25

Abergavenny Community Trust CIO NOTES TO THE ACCOUNTS

for the year ended 31 October 2020

Total Restated
2020 2019
£ £
**13. ** Debtors
Trade debtors 357 770
Other debtors 21 4,692
Prepayments and accrued income 3,434 897
3,812 6,359
Total Restated
2020 2019
**14. ** Creditors £ £
amounts falling due within one year:
Trade creditors 233 62,123
Other creditors 167 576
Accruals and deferred income 15,691 46,639
16,091 109,338
**15. ** Movement in funds Restated Incoming At
at 1st resources Resources Gross 31st
November (including expended transfers October
2019 gains/losses) 2020
£ £ £ £ £
Restricted funds
Restricted Income funds:
Covid-19 salaries and fixed costs 16,190 (14,730) - 1,460
Covid-19 PPE - 1,800 (1,800) - -
Supporting families and 0
outdoor activities 249 4,787 (2,838) - 2,198
Technology improvements - 950 (100) - 850
Hosting support for 0
community activities 498 1,250 (180) - 1,568
External access repairs - 1,070 - - 1,070
Flooring replacement - 5,125 (1,000) 1,000 5,125
Building improvements 167,987 2,930 (7,673) - 163,244
ECO/environmental
improvements 12,500 3,000 (7,383) (1,000) 7,117
Equipment 525 5,333 (2,133) - 3,725
Total restricted funds 181,759 42,435 (37,837) - 186,357

Page 26

Abergavenny Community Trust CIO NOTES TO THE ACCOUNTS for the year ended 31 October 2020

15. Movement in funds (continued)

Unrestricted funds
General funds
Designated funds:
Covid-19 funding support
Total designated funds
Total funds
Medium term maintenance
plan
Capital improvements -
future depreciation		 Restated
Incoming
At
at 1st
resources
Resources
Gross
31st
November
(including
expended
transfers
October
2019 gains/losses)
2020
£
£
£
£
£
23,076
49,096
(48,863)
-
23,309
-
25,000
-
-
25,000
-
1,200
1,700
-
2,900
-
5,000
(208)
-
4,792
-
31,200
1,492
-
32,692
23,076
80,296
(47,371)
-
56,001
204,835
122,731
(85,208)
-
242,358

Purposes and restrictions in relation to the funds:

Restricted funds:

Covid-19 salaries and fixed costs Covid-19 PPE Supporting families & outdoor activities Technology improvements Hosting support for community activities External access repairs Flooring replacement Building improvements ECO/environmental improvements Equipment

Core cost support during Covid-19 restrictions Purchase of Covid-19 PPE to operate safely Run new activities to support families Technology solutions for new ways of working Hosting support for community activities Repair and improve external access to Centre Contribution to replacement flooring project New welcome area, access, toilets, central heating Improve environmental footprint, energy efficiency New equipment to improve facilities

Designated funds:

Covid-19 funding support Running costs 2021 Medium term maintenance plan Planned maintenance Capital improvements - future depreciation Property improvements

Page 27

Abergavenny Community Trust CIO NOTES TO THE ACCOUNTS

for the year ended 31 October 2020

Unrestricted Restricted Total
2020 2020 2020
£ £ £
**16 ** Analysis of net assets between funds
Fixed assets 11,089 169,836 180,925
Net current assets 44,912 16,521 61,433
56,001 186,357 242,358

17 Commitments

Operating lease commitments

Annual commitments under non-cancellable operating leases are as follows:

Land and Land and
buildings Other buildings Other
2020 2020 2019 2019
£ £ £ £
Operation lease with expiry date - - - -
Pension commitments
2020 2019
£ £
The pension cost charge to the charity
amounted to: 57 5
Unpaid contribtions due to the fund are
included in other creditors and amounted to: 11 5

Page 28

Abergavenny Community Trust CIO DETAILED STATEMENT OF FINANCIAL ACTIVITIES

for the year ended 31 October 2020

Unrestricted Restricted Total Restated
funds funds funds Total funds
2020 2020 2020 2019
£ £ £ £
Income and endowments from:
Donations and legacies
Donations and legacies 10,745 8,385 19,130 20,988
10,745 8,385 19,130 20,988
Charitable activities
Grants 39,749 34,000 73,749 183,200
Room hire 17,469 - 17,469 32,673
Food, refreshments 7,169 - 7,169 13,900
Catering 1,201 - 1,201 4,956
Minibus hire 1,370 - 1,370 2,530
Other 2,485 50 2,535 4,263
69,443 34,050 103,493 241,522
Investments 107 - 107 289
Other - - - 3,386
Total income and endowments 80,295 42,435 122,730 266,185
Expenditure on:
Charitable activities
Fundraising 1,166 - 1,166 250
Kitchen labour costs 4,186 2,834 7,020 7,527
Kitchen food and drink costs 1,867 - 1,867 7,294
Class teachers 350 2,456 2,806 770
Wages and salaries 10,555 7,297 17,852 19,739
Employers NIC and pension costs 22 35 57 5
Rent and rates 1,177 1,009 2,186 2,203
Light and heat 4,169 1,640 5,809 7,405
insurance 1,057 1,071 2,128 2,532
Repairs and maintenance 5,896 9,662 15,558 21,063
Cleaning 4,238 446 4,684 2,207
Telephone and fax 681 474 1,155 916
Stationary, printing and postage - - - 163
Advertising 1,198 25 1,223 918
Bad debt 228 - 228 105
Licences and subscriptions 694 - 694 574
Sundry 476 585 1,061 402
Minibus costs 2,020 - 2,020 1,750

Page 29

Abergavenny Community Trust CIO DETAILED STATEMENT OF FINANCIAL ACTIVITIES

for the year ended 31 October 2020

Expenditure on:
Charitable activities
Profit on disposal of asset
Amortisation
Depreciation
Governance costs
Accountancy and inspection
Legal fees
Payroll and bookkeeping
Depreciation of motor vehicles
Depreciation of equipment
Total expenditure
Net gains on investments
Net Income
Other gains and losses
Net movement in funds
Total expenditure on charitable
activities
General administrative costs, including
depreciation and amortisation
Net income before other gains and
losses		 Unrestricted
Restricted
Total
Restated
funds
funds
funds
Total funds
2020
2020
2020
2019
£
£
£
£
(2,250)
-
(2,250)
0
208
7,362
7,570
6,816
5,932
2,567
8,499
6,442
43,870
37,463
81,333
89,081
1,200
-
1,200
1,980
900
-
900
-
1,400
374
1,774
1,954
3,500
374
3,874
3,934
47,370
37,837
85,207
93,015
-
-
-
-
-
-
-
-
-
-
-
-
47,370
37,837
85,207
93,015
-
-
-
-
32,925
4,598
37,523
173,170
32,925
4,598
37,523
173,170
-
-
-
-
32,925
4,598
37,523
173,170

Page 30