Charity Registration No. 1178227
GWENT YOUNG FARMERS CLUBS CIO
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR FROM 1 AUGUST 2021 TO 31 JULY 2022
GWENT YOUNG FARMERS CLUBS CIO
REPORT AND FINANCIAL STATEMENTS 2022
| 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
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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.
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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 deficit whereby expenditure exceeded income by a total of £21,090.
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.
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 2022 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
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GWENT YOUNG FARMERS CLUBS CIO
STATEMENT OF FINANCIAL ACTIVITIES Year ended 31 July 2022
| STATEMENT OF FINANCIAL ACTIVITIES Year ended 31 July 2022 |
|||
|---|---|---|---|
| Unrestricted funds | |||
| Note | 2022 | 2021 | |
| £ | £ | ||
| INCOMING RESOURCES | |||
| Fundraising | 2 | 19,108 | - |
| County levy | 1,233 | 2,514 | |
| National levy | 1,879 | 3,832 | |
| Insurance | 646 | 1,318 | |
| Donations and sponsorship | 6,095 | 11,439 | |
| Sundry income | 5 | 9 | |
| Grants | 3 | 12,425 | 31,002 |
| Yearbook | 2,995 | 648 | |
| _______ | _____ | ||
| Total incoming resources | 44,386 | 50,762 | |
| _______ | _____ | ||
| RESOURCES EXPENDED | |||
| Direct Charitable expenditure | |||
| Salaries and national insurace | 4 | 19,225 | 13,098 |
| Membership costs (National) | 935 | 2,982 | |
| Membership costs (Wales) | 1,000 | 2,450 | |
| Organiser’s expenses | - | 78 | |
| Courses, training and competition expenses | 2,861 | 251 | |
| Insurance | - | 338 | |
| Charitable activities | 6 | 11,232 | 560 |
| Donations | 7,296 | 20 | |
| _______ | _____ | ||
| 42,549 | 19,777 | ||
| Other expenditure | |||
| Fundraising | 5 | 10,685 | 370 |
| Promotional merchandise | 507 | 499 | |
| Telephone | 503 | 409 | |
| Office | 4,701 | 4,409 | |
| Insurance | 29 | 28 | |
| Office repairs and decor | 485 | 591 | |
| Advertising | 4,925 | 2,799 | |
| Sundry expenses | 304 | 332 | |
| Depreciation | 788 | 789 | |
| ______ | _____ | ||
| 22,927 | 10,226 | ||
| ______ | _____ | ||
| Total resources expended | 65,476 | 30,003 | |
| _______ | _____ |
5
GWENT YOUNG FARMERS CLUBS CIO
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) Year ended 31 July 2022
| 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 Surplus/(deficit) for the year TOTAL FUNDS CARRIED FORWARD |
2022 2021 Unrestricted fund Designated fund Total funds Total Funds £ £ £ £ 44,386 - 44,386 50,762 65,476 - 65,476 30,003 (21,090) - (21,090) 20,759 25,000 21,090 96,883 (21,090) 121,883 101,124 (21,090) (21,090) 20,759 |
|
|---|---|---|
| 25,000 75,793 100,793 121,883 |
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GWENT YOUNG FARMERS CLUBS CIO
BALANCE SHEET At 31 July 2022
| Note FIXED ASSETS Tangible fixed assets 8 CURRENT ASSETS 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 Designated Funds TOTAL FUNDS |
2022 £ 17,410 _ 6,450 44,241 30,151 2,541 __ 83,383 _ - __ 83,383 __ 100,793 __ 25,000 75,793 _____ 100,793 |
2021 £ 18,199 __ 8,014 62,983 30,146 2,541 _ 103,684 __ - _ 103,684 __ 121,883 __ 25,000 96,883 _____ 121,883 |
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|---|---|---|---|
| __ |
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| __ |
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
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GWENT YOUNG FARMERS CLUBS CIO
NOTES TO THE FINANCIAL STATEMENTS Year ended 31 July 2022
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 write off 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.
Designated 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 Tops Online Shop County Rally 3. GRANTS Monmouthshire County Council grant Wales YFC grants HMRC Coronavirus Job Retention Scheme grant Rank Foundation Grant WCVA Grant GAVO Grant Welsh Lamb Scheme CF in Wales |
2022 £ 4,575 330 7,567 6,636 ___ 19,108 __ 2022 £ 4,275 1,144 - - - - 6 7,000 ____ 12,425 |
2021 £ - - - - ______ - |
|---|---|---|
| __ 2021 £ 4,275 1,384 898 550 20,186 3,709 - - ____ 31,002 |
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GWENT FEDERATION OF YOUNG FARMERS’ CLUBS
NOTES TO THE FINANCIAL STATEMENTS Year ended 31 July 2022
| 4. WAGES AND SALARIES County Organiser salary Other staff 5. FUNDRAISING EXPENDITURE County rally County ball Sports Day Miscellaneous 6. EXPENDITURE ON CHARITABLE ACTIVITIES Entertainment Expenses Competition Expenses Harvest Festival Welly Walk Llanvair Discoed Church Hog Roast 7. EMOLUMENTS OF TRUSTEES No trustee received any remuneration or expenses during the period. 8. TANGIBLE FIXED ASSETS Cost At 1 August 2021 At 31 July 2022 Depreciation At 1 August 2021 Charge for year At 31 July 2022 Net Book Value At 31 July 2022 At 31 July 2021 |
___ | 2022 £ 9,350 9,875 _ 19,225 _ 2022 £ 2,347 5,835 121 2,382 ___ 10,685 _ 2022 £ - 3,750 3,531 135 2,316 1,500 _ 11,232 ____ |
_ |
2021 £ 11,521 1,577 ____ 13,098 |
|
|---|---|---|---|---|---|
| _ 2021 £ 146 - - - __ 146 |
|||||
| __ 2021 £ 560 - - - - - __ 560 |
|||||
| ___ | __ 2022 £ 28,228 _ 28,228 |
||||
| _ 10,029 789 _ 10,818 |
|||||
| ____ 17,410 |
|||||
| ____ 18,199 |
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