Charity Registration No. 1178227
GWENT YOUNG
FARMERS CLUBS CIO
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR FROM 1 AUGUST 2024 TO 31 JULY 2025
DRAFT
GWENT YOUNG FARMERS CLUBS CIO
REPORT AND FINANCIAL STATEMENTS 2025
CONTENTS
| Page | |
|---|---|
| Officers and professional advisers | 1 |
| Trustees’ report | 2 |
| Independent examiner’s report | 4 |
| Statement of financial activities | 5-6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8-10 |
DRAFT
GWENT YOUNG FARMERS CLUBS CIO
OFFICERS AND PROFESSIONAL ADVISERS
TRUSTEES
Alun Morgan Christopher Lewis Thomas Berry Dominic Hampson-Smith William Richardson Nerys Lewis Emily Ruck Rhiannon Williams Rhys Whittingham Trevor Bowen Helen Hinton Laura Bowyer Kati-Emily Matthews Amy Phillips Sophia Vassallo
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:
Huw Beavan (President) Peter Williams (Vice-President) Daniel Jones (Chair) Katie Goldsworthy (Vice-Chair) Mark Taylor (Treasurer) Rich Wadley (Comps. Chair) Amy Phillips (Ex. Chair)
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 £152.
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 co-ordinates 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:
...................................................................... Daniel Jones 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 2025 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 2025
| STATEMENT OF FINANCIAL ACTIVITIES Year ended 31 July 2025 |
|||
|---|---|---|---|
| Unrestricted funds | |||
| Note | 2025 | 2024 | |
| £ | £ | ||
| INCOMING RESOURCES | |||
| Fundraising | 2 | 27,624 | 25,066 |
| County levy | 4,473 | 2,523 | |
| National levy | 6,818 | 3,846 | |
| Insurance | 2,345 | 1,323 | |
| Donations and sponsorship | 2,472 | 4,036 | |
| Sundry income | 442 | 415 | |
| Grants | 3 | 10,069 | 13,327 |
| Yearbook | 7,132 | 14,670 | |
| _______ | _____ | ||
| Total incoming resources | 61,375 | 65,206 | |
| _______ | _____ | ||
| RESOURCES EXPENDED | |||
| Direct Charitable expenditure | |||
| Salaries and national insurance | 4 | 25,030 | 23,850 |
| Membership costs (National) | 1,928 | 1,736 | |
| Membership costs (Wales) | 1,928 | 1,736 | |
| Courses, training and competition expenses | 1,053 | 1,735 | |
| Insurance | 2,233 | 2,093 | |
| Charitable activities | 6 | 1,160 | 5,352 |
| Donations | 328 | 645 | |
| _______ | _____ | ||
| 33,660 | 37,146 | ||
| Other expenditure | |||
| Fundraising | 5 | 19,061 | 16,510 |
| Promotional merchandise | 868 | 761 | |
| Telephone | 1,415 | 257 | |
| Office | 5,429 | 6,082 | |
| Insurance | 30 | 30 | |
| Office repairs and decorations | 58 | 982 | |
| Advertising | - | 1,096 | |
| Sundry expenses | 124 | 577 | |
| Depreciation | 1,229 | 1,275 | |
| ______ | _____ | ||
| 28,214 | 25,570 | ||
| ______ | _____ | ||
| Total resources expended | 61,874 | 64,716 | |
| _______ | _____ |
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GWENT YOUNG FARMERS CLUBS CIO
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) Year ended 31 July 2025
| 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 |
2025 2024 Unrestricted fund Designated fund Total funds Total funds £ £ £ £ 61 61 65 61 61 64 (499 (499 490 499 78 (499 102 102 (499 (499 490 25,000 77,869 102,869 103,368 |
|
|---|---|---|
| 25,000 77,869 102,869 103,368 |
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GWENT YOUNG FARMERS CLUBS CIO
| BALANCE SHEET At 31 July 2025 Note FIXED ASSETS Tangible fixed assets 8 18,330 CURRENT ASSETS Barclays building/training fund – 2280 4,159 Barclays current account - 2348 49,337 Barclays premium account – 9989 30,692 Sundry debtors 850 85,038 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR PAYE NET CURRENT ASSETS 85,038 TOTAL NET ASSETS 103,368 Represented by: Unrestricted funds Designated funds 78,368 __ TOTAL FUNDS 103,368 __ |
2025 2024 £ £ 17,102 ___ __ 4,687 48,935 31,134 1,358 _ __ 86,114 _ __ 347 - _ __ 85,767 _ __ 102,869 _ __ 25,000 25,000 77,869 __ 102,869 |
|
|---|---|---|
| ___ _ |
||
| ___ |
These financial statements were approved by the Trustees on
...................................................................... Daniel Jones Trustee
...................................................................... Dated
7
The notes on pages 8, 9 and 10 form part of these accounts
GWENT YOUNG FARMERS CLUBS CIO
NOTES TO THE FINANCIAL STATEMENTS Year ended 31 July 2025
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.
3.
| FUNDRAISING EVENTS Raft race Pantomime County ball Stock judging Harvest supper Online shop County rally Autumn fair Misc GRANTS Monmouthshire County Council grant Blakemore Foundation Welsh language grant GAVO summer of fun grant |
2025 2024 £ £ - 1,455 8,210 4,323 - 2,511 531 - 711 749 1,168 912 12,787 14,462 1,226 - 2,991 655 ___ _ 27,624 25,066 _ ___ 2025 2024 £ £ 3,665 3,858 60 - 1,344 1,444 - 1,750 |
|---|---|
8
| Usk Town Council grant CF in Wales |
- 275 5,000 6,000 ___ _ 10,069 13,327 _ ___ |
|---|---|
9
GWENT FEDERATION OF YOUNG FARMERS’ CLUBS
NOTES TO THE FINANCIAL STATEMENTS Year ended 31 July 2025
| 4. WAGES AND SALARIES County organiser salary Other staff 5. FUNDRAISING EXPENDITURE County rally Pantomime Online shop Autumn fair County ball Sports day Public speaking Stock judging Field day Miscellaneous 6. EXPENDITURE ON CHARITABLE ACTIVITIES New members event Dolman theatre |
___ | 2025 2024 £ £ 15,088 14,214 9,942 9,636 _ _ 25,030 23,850 __ _ 2025 2024 £ £ 9,678 8,493 3,274 - 1,220 - 88 - - 3,130 236 889 - 700 331 385 - 700 4,234 2,213 ______ __ 19,061 16,510 _ ___ 2025 2024 £ £ - 2,362 1,160 2,990 _ _______ 1,160 5,352 |
|---|---|---|
7. EMOLUMENTS OF TRUSTEES
No trustee received any remuneration or expenses during the period.
8. TANGIBLE FIXED ASSETS
2025 £ 31,630 -
Cost At 1 August 2024 Additions
10
| At 31 July 2025 Depreciation At 1 August 2024 Charge for year At 31 July 2025 Net Book Value At 31 July 2025 At 31 July 2024 |
_ 31,630 _ 13,299 1,229 _ 14,528 _ 17,102 ____ 18,330 |
|---|---|
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