**Charity Registration No. 1178227**
## **GWENT YOUNG FARMERS CLUBS CIO**
**REPORT AND FINANCIAL STATEMENTS FOR THE YEAR FROM 1 AUGUST 2020 TO 31 JULY 2021**
**GWENT YOUNG FARMERS CLUBS CIO**
## **REPORT AND FINANCIAL STATEMENTS 2021**
|**CONTENTS**||
|---|---|
||**Page**|
|Officers and professional advisers|1|
|Trustees’ report|2|
|Independent examiner’s report|4|
|Statement of financial activities
Balance sheet
Notes to the financial statements|5-6
7
8-9|
**GWENT YOUNG FARMERS CLUBS CIO**
## **OFFICERS AND PROFESSIONAL ADVISERS**
## **TRUSTEES**
Alun Morgan (President) Chris Lewis Laura Baker Helen Hinton Trevor Bowen Sophie Madsen Sophia Vassallo Katie Matthews Andrew Watkins Kelly Whistance Thomas Berry Elizabeth Berry Alyssia Thomas Emma Davies Rhys Whittingham Gareth Price Abbie Williams (chairman) Laura Bowyer Laura Morgan Rhiannon Williams
Angharad Gwillim Lucy Phillips Amy Phillips Dan Maggs Hayley Bull Lowri Lougher
## **REGISTERED OFFICE**
YFC Office Coleg Gwent Usk Campus Usk Monmouthshire NP15 1XJ
## **BANKERS**
Barlcays Bank Plc 57 Frogmore Street Abergavenny Monmouthshire NP7 5AT
## **SOLICITORS**
The Robert Davies Partnership Wentwood House Langstone Business Village Langstone Newport South Wales NP18 2HJ
## **ACCOUNTANTS**
Green & Co Chartered Certified Accountants and Registered Auditors Pembroke House Llantarnam Park Way Cwmbran NP44 3AU
1
## **GWENT YOUNG FARMERS CLUBS CIO**
## **TRUSTEES’ REPORT**
## **LEGAL STATUS AND ADMINISTRATION**
Gwent Young Farmers Clubs is constituted by trust deed and is a registered charity, No 1178227. The address is The YFC Office, Coleg Gwent, Usk, Monmouthshire, NP15 1XJ. The Charity Trustees, all of whom make up the Executive Committee, during the year were:
Alun Morgan (President) Chris Lewis Laura Baker Helen Hinton Trevor Bowen Sophie Madsen Sophia Vassallo Katie Matthews Andrew Watkins Kelly Whistance Thomas Berry Elizabeth Berry Alyssia Thomas Emma Davies Rhys Whittingham Gareth Price Abbie Williams(chairman) Laura Bowyer Laura Morgan Rhiannon Williams Angharad Gwillim Lucy Phillips Amy Phillips Dan Maggs Hayley Bull Lowri Lougher
The Trustees are appointed by the affiliated clubs on an annual basis with the change over taking place at the Executive Committee AGM held around October of each year.
## **CHARITABLE OBJECTS**
The objective of the charity is to provide educational and social benefit to young people aged between 10 and 26 years who predominantly live in the countryside, in the old county boundary of Gwent. Activities are biased towards agricultural and countryside subjects but also include many activities that are of general appeal to young people.
2
**GWENT YOUNG FARMERS CLUBS CIO**
## **TRUSTEES’ REPORT (continued)**
Fundraising for the Federation is dependent on the members of the affiliated clubs to arrange activities and events, with the majority of the money raised coming from the members and their families.
This year has seen a profit whereby income exceeded expenditure by a total of £20,759.
Donations and sponsorship have once again been gratefully received and our thanks go to all who have donated to the Federation over the past year.
This year we received grants from Wales YFC totalling £858 to support the promotion of the Welsh language within the County and encourage members to learn something new. We received £26 from the Welsh Lamb Scheme and have received a £4,275 grant from Monmouthshire County Council. We received £20,186 from Wales Council for Voluntary Action (WCVA) and £2,724 from Gwent Association of Voluntary Organisations (GAVO) Comic relief fund which is being used to benefit the club in such ways like promotional advertising, and technology. For this support we are continually grateful.
The hard work and effort of the Members, County Officers and County Organiser have kept the Federation in a safe financial position this year during difficult times. I am sure this will remain the case for next year and wish the new officers every success.
The Charity will remain affiliated to The National Federation of Young Farmers’ Clubs, which oversees and coordinates activities nationwide.
## **ACCOUNTANTS**
Green & Co have expressed their willingness to continue as the Trust’s accountants for the forthcoming year.
Approved by the Trustees and signed on their behalf by:
....................................................................... Abbie Williams Trustee
....................................................................... Dated
3
## **INDEPENDENT EXAMINERS’ REPORT TO THE TRUSTEES OF**
## **GWENT YOUNG FARMERS CLUBS CIO**
We report on the financial statements for the year ended 31 July 2021 set out on pages 5 to 9.
## **Respective responsibilities of trustees and Independent Examiners**
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees must consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is our responsibility to:
- examine the accounts under section 145 of the 2011 Act;
- to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
- to state whether particular matters have come to our attention.
## **Basis of Independent Examiners Report**
Our 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 the trustees concerning any such matters. The procedures undertaken 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 Examiners Statement**
In connection with our examination, no matter has come to our attention:
(1) which gives us reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with section 130 of the 2011 Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act
have not been met; or
(2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
## **GREEN & CO**
Chartered Certified Accountants and Registered Auditors Pembroke House Llantarnam Park Way Cwmbran NP44 3AU
4
**GWENT YOUNG FARMERS CLUBS CIO**
## **STATEMENT OF FINANCIAL ACTIVITIES Year ended 31 July 2021**
|**STATEMENT OF FINANCIAL ACTIVITIES**
**Year ended 31 July 2021**||||
|---|---|---|---|
|||**Unrestricted funds**||
||**Note**|**2021**|**2020**|
|||**£**|**£**|
|**INCOMING RESOURCES**||||
|Fundraising|2|-|8,384|
|Charitable activities|3|-|4,395|
|County levy||2,514|3,521|
|National levy||3,832|5,368|
|Insurance||1,318|1,846|
|Donations and sponsorship||11,439|8,911|
|Sundry income||9|148|
|Grants|4|31,002|7,017|
|Yearbook||648|1,270|
|||_____________|___________|
|Total incoming resources||50,762|40,860|
|||_____________|___________|
|**RESOURCES EXPENDED**||||
|**Direct Charitable expenditure**||||
|Salaries and national insurace|5|13,098|9,867|
|Membership costs (National)||2,982|4,849|
|Membership costs (Wales)||2,450|2,917|
|Organiser’s expenses||78|273|
|Courses, training and competition expenses||251|(263)|
|Insurance||338|1,390|
|Charitable activities|7|560|6,157|
|Donations||20|3,436|
|||_____________|___________|
|||19,777|28,626|
|**Other expenditure**||||
|Fundraising|6|370|3,219|
|Promotional merchandise||499|364|
|Telephone||409|453|
|Office||4,409|4,874|
|Insurance||28|28|
|Office repairs and decor||591|399|
|Advertising||2,799|210|
|Sundry expenses||332|24|
|Depreciation||789|156|
|||____________|___________|
|||10,226|9,727|
|||____________|___________|
|**Total resources expended**||30,003|38,353|
|||_____________|___________|
5
**GWENT YOUNG FARMERS CLUBS CIO**
## **STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) Year ended 31 July 2021**
|**INCOMING RESOURCES**
Fundraising, grants, etc
**RESOURCES EXPENDED**
Charitable activities and other
expenditure
**NET INCOMING/(OUTGOING)**
**RESOURCES**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**Transfer of funds**
**TOTAL FUNDS CARRIED FORWARD**||2021 2020
Unrestricted
fund
Designated
fund
Total
funds
Total
Funds
£
£
£
£
50,762
-
50,762
40,860
30,003
-
30,003
38,353
20,759
-
20,759
2,507
25,000
(20,759)
76,124
20,759
101,124
98,617
**25,000 96,883 121,883 101,124**|
|---|---|---|
||||
|||**25,000 96,883 121,883 101,124**|
6
## **GWENT YOUNG FARMERS CLUBS CIO**
## **BALANCE SHEET At 31 July 2021**
|**Note**
**FIXED ASSETS**
Tangible fixed assets
9
**CURRENT ASSETS**
Barcalys building/training fund - 9469
Barclays building/training fund – 2280
Barclays current account - 2348
Barclays premium account – 9989
Sundry debtors
**CREDITORS: AMOUNTS FALLING DUE**
**WITHIN ONE YEAR**
Sundry creditors
**NET CURRENT ASSETS**
**TOTAL NET ASSETS**
**Represented by:**
Unrestricted Funds
Desingated Funds
**TOTAL FUNDS**|
|**2021**
**£**
18,199
_________
-
8,014
62,983
30,146
2,541
___________
103,684
___________
-
___________
103,684
___________
121,883
___________
25,000
96,883
___________
121,883
__________|**2020**
**£**
14,768
___________
-
7,905
45,503
30,147
4,191
___________
87,746
___________
(1,390)
___________
86,356
___________
101,124
___________
25,000
76,124
___________
101,124
___________|
|---|---|---|---|
||__
|||
||__
__|||
These financial statements were approved by the Trustees on
....................................................................... Alun Morgan Trustee
....................................................................... Dated
The notes on page 8 and 9 form part of these accounts
7
**GWENT YOUNG FARMERS CLUBS CIO**
## **NOTES TO THE FINANCIAL STATEMENTS Year ended 31 July 2021**
## **1. ACCOUNTING POLICIES**
## **Accounting convention**
The financial statements are prepared under the historical cost convention.
The financial statements are prepared in accordance with applicable accounting standards and with the Charities SORP (FRS102) - Accounting and Reporting by Charities and comply with the Charities (Accounts and Reports) Regulations 2005 issued under the Charities Act 2011.
The particular accounting policies adopted by the Trustees are described below.
## **Tangible fixed assets**
Depreciation if provided at the following annual rates in order to writeoff each asset over its estimated useful life.
Plant and machinery – 15% on cost
## **Funds**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Desinated funds whilst expendable at the discretion of the trustees are earmarked to be used towards the training and development of members.
## **Incoming resources**
Income is accounted for as soon as the conditions for receipt have been met and there is reasonable assurance of receipt. Investment income is accounted for when receivable.
|**2.**
**FUNDRAISING EVENTS**
County ball
Miscellaneous fundraising
Carol service
**3.**
**INCOME FROM CHARITABLE ACTIVITIES**
Entertainments
**4.**
**GRANTS**
Monmouthshire County Council grant
Wales YFC grants
Usk Town donation
HMRC Coronavirus Job Retention Scheme grant
Rank Foundation Grant
WCVA Grant
GAVO Grant|**2021**
**£**
-
-
-
_____________
-
_____________
**2021**
**£**
-
_____________
-
_____________
**2021**
**£**
4,275
1,384
-
898
550
20,186
3,709
_____________
31,002
_____________|**2020**
**£**
3,023
4,968
394
____________
8,384
|
|---|---|---|
|||____________
**2020**
**£**
4,395
____________
4,395
|
|||____________
**2020**
**£**
4,500
1,444
500
572
-
-
-
____________
7,016
____________|
8
**GWENT FEDERATION OF YOUNG FARMERS’ CLUBS**
**NOTES TO THE FINANCIAL STATEMENTS Year ended 31 July 2021**
|**5.**
**WAGES AND SALARIES**
County Organiser salary
**6.**
**FUNDRAISING EXPENDITURE**
County rally
County ball
Stock Judging
Field day
Miscellaneous
**7.**
**EXPENDITURE ON CHARITABLE ACTIVITIES**
Entertainment Expenses
**8.**
**EMOLUMENTS OF TRUSTEES**
No trustee received any remuneration or expenses during the period.
**9.**
**TANGIBLE FIXED ASSETS**
**Cost**
At 1 August 2020
Additions
At 31 July 2021
**Depreciation**
At 1 August 2020
Charge for year
At 31 July 2021
**Net Book Value**
At 31 July 2021
At 31 July 2020|___|**2021**
**£**
13,098
_________
13,098
_________
**2021**
**£**
146
-
-
-
-
_________
146
__________
**2021**
**£**
560
__________
560
__________|_
|**2020**
**£**
9,867
__________
9,867
|
|---|---|---|---|---|
|||||__________
**2020**
**£**
261
2,371
60
(55)
582
___________
3,219
|
||___
___||__
__|___________
**2020**
**£**
6,157
___________
6,157|
||___||__|___________
**2021**
**£**
24,008
4,220
__________
28,228
|
|||||__________
9,240
789
__________
10,029
|
|||||__________
18,199
|
|||||__________
14,768
__________|
9