REGISTERED CHARITY NUMBER: 1181562 ort of the Trustees and Unaudited Financial Ststements fortheyear Ended 31st March 2023 C kh Meithrin T croes Ashmole & Co Chartered Certified Accountants Castle House High Street Ammanford Carmarthenshire SA18 2NB
h Meithrln T roe5 Contents of the Financial Statements for the Year Ended 31st March 2023 Page Report ofthe Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 6 to 11 Detsiled Statement of Financial Activities 12
¢h Meithrin T roes Re rt of the Trustees forthe Year Ended 31st Mar<h 2023 The trustees present their report with the financial statements of the charity for the year ended 31st March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities= Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191. OBJECTIVES AND A1VITIEs Objectives and aims The object of the charity is to run a Cylch Meithrin for preschool children during normal school term time5. Through the medium of Welsh, the charity assi5t5 Wlth play, learr)ing and basic education to enable the children to make a smooth progression into school life. Public benefit The trustees confirm that they have complied with their duty in 5tion 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Commission. Cylch Meithrin Tycroes has demonstrated that our aims are for public benefit through the provision of activities and events which have enabled children to attend early years care and educational development in a safe environment ACHIEVEMENT AND PERFORMANCE Charitable activities The cylch has provided early years care for the local communty, with a wide range of activities to promote progress in all 3rea5 of a child'5 learning and development. All session are open during Carmarthenshire County Council school term time onlv. FINANCIAL REVIEW Financial position The charity is funded partly by Carmarthenshire County council and partly by children's fees. Reserve5 policy The Trustees review the needs for SeNeS in line with guidance issued by the Charity Commission. It is the policy of the charity to maintain unrestricted funds to ensure Slrfficient reserves to meet expenditure for the period following the end of the financial year until grant payments and children's fees are paid for the new financial year. STRUCTURE. GOVERNANCE ANO MANAGEMENT Governing do¢ument The charity is controlled by its governing document, a (leed of trust and constitutes an unincorporated charity. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1181562 Page I
C Ich Meithrin T roes Re rt of the Trustees forthe Year Ended 31st March 2023 Prin¢lpal address 10 High Street Glanamman Ammanford Carmarthen5hire SA18 IDX Trustees T M Higgins A Leach l Llewellyn Independent Examiner Ashmole & Co Chartered Certified Accountants Castle House High Street Ammanford Carmarthenshi SA18 2NB Approved by order of the board of trustees on ........ and signed on its behalf by: T M Higgins- rustee Page 2
Inde dent Examlner's Re ort to the Trustee5 of C Ich Meithrin T croes Independent examiner'5 report to the trustees of Cylch Meithrin Tycroes I report to the charity trustees on my examination of the accounts of Cylch Meithrin Tycroes Ithe Trust) for the year ended 31st March 2023. Responslbllities and basis of report As the charity trustees of the Trust you are responsible for the preparatKin of the accounts in accordance with the requirements of the Charities Act 2011 Ilhe Act'l. I report in spect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 1451Sllbl of the Act. Independent examiner's statemenl I have completed wny examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the Trust a5 required by Section 130 of the Act; or the accounts do not accord with those records- or the accounts do not comply with the applicable requirements cOerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 28 other than any requirement that the accounts give a true and fair view which is t a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to er)able a proper undeistanding of the accounts to be reached. Mrs Laura Craddock Ashmole & Co Chartered Certified Accountants Castle House High Street Ammanford Carmarthenshire SA18 2NB Date..01.L.iO lao a Page 3
ch Melthrin T roes ststement of Financial Artivities forthe Year Ended 31st March 2023 31.3.23 Total funds 31.3.22 Total funds Unrestricted fund Restrirted fund Notes INCOME AND ENDOWMENTS FROM Charitable activities Charitable activities 31,(KJl 31,(X)I 26,594 EXPENDITURE ON Charitable activities Charitsble activities 34,676 34,676 27,250 NET INCOMEIIEXPENDITUREI 13,675) 13,6751 16561 RECONCILIATION OF FUNDS Total funds brought forward 6,C9 6.069 6,725 TOTAL FUNDS CARRIED FORWARD 2,394 2,394 6.069 The notes form part of these financial statements Page 4
h Melthrfn T roes Balance Sheet 31st March 2023 31.3.23 Total funds 31.3.22 Total funds Unrestritted fund Restricted fund Notes CURRENT ASSETS Cash at bank 4.554 4,554 6,069 CREDITORS Arnounts falling due within one year 12.1601 12,1601 NET CURRENT ASSETS 2,394 2,394 6,069 TOTAL ASSETS LESS CURRENT LIABILMES 2.394 2,394 6,069 NET ASSETS 2,394 2.394 6,069 FUNDS Unrestricted funds 2,394 6,069 TOTAL FUNDS 2,394 6.069 The financial statements were approved by the Board of Trustees and authorised for i55ue on - and were signed on its behalf bv: T M Higgins- Trustee The notes form part of these financial statements Page 5
C kh MeithrinT roes Notes to the Finanaal Statements for theyear Ended 31st March 2023 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charity. which is a public nefit entty under FRS 102, have been prepared in accordance with the Charitie5 SORP IFRS 1021 'AccountinE and Reporting by Charities-. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective l January 20191,. Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charitie5 Act 2011. The financial ststements have been prepared under the historical cost convention. Income All income is recognised in the Ststement of Financial Activitie5 once the charity has entitlement to the fund5, It is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as s(Kbn as there 15 a legal or constructive obligation committing the charity to that expenditure. it is probable that a transfer of economic benefits will be required in settlement and the amotsnt of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to actNities on a basis consistent with the use of resources. Taxation The charity is exempt from tax on its tharitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricterl funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when fijnds are r3i5ed for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Pension costs and other p05t-retirement benefits The charity operates a defined contribution pension scheme. Contributions payable to the charitvs pension scheme are charged to the Statement of Financial Activities in the period to which they relate. Page 6 continued...
Cylch Meithrin T roes Notes to the Financial Statements- continued for the Year Ended 3tst March 2023 INCOME FROM CHARITABLE ACTIVITIES 31.3.23 31.3.22 ActNity Charitable activities Charitable activities Fees Grant5 19,474 11,527 17,724 8,870 31,001 26,594 Grants received. included in the above, are 3$ follows.. 31.3.23 31.3.22 Local Aid Mudiad Meithrin Carmarthen County Council Training Grant Llanedi communty council Ceredigion Council Welsh Government 200 2,500 3,tMJ7 2,124 1,850 1.948 4,409 1,320 11,527 7,831 CHARITABLE AcfiviTIES COSTS Support costs Isee note 41 Direct Costs Totals Charitable activities 32,072 34,676 SUPPORT COSTS Governance costs Management Tota15 Charitable activities 264 2.340 2,604 Page 7 continued...
h Meithrin T roes Notes to the Financial Statements- continued for the Year Ended 31st March 2023 TRUSTEES, REMUNERATION AND BENEF5 There were no trustees, remuneration or other benefits for the year ended 31st March 2023 nor for the year ended 31st March 2022. Trustees, expenses There weie no trustees. expenses paid for the year ended 31st March 2023 nor for the year ended 31st March 2022. STAFF COSTS 31.3.23 31.3.22 Wages and salaries Other pension cost5 24,637 78 20,731 24,715 20,731 The average monthly number of employees during the year was as follows- 31.3.23 31.3.22 Average number of employees No employees received emoluments in excess of £60,11. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund Restricted fund Total funds INCOME AND ENDOWMENTS FROM Charitable artivities Charitable activities 26,594 26,594 EXPENDITURE ON Charitable activities Charitsble activities 27,250 27,250 NET INCOME/IEXPENDITURE} 16561 16561 RECONCILIATION OF FUNDS Total funds brought forward 6.725 6,725 Page 8 tontinued...
Ich Meithrin T Notes to the Financial Statements- ¢ontinued for the Year Ended 31st March 2023 COMPARATIVES FOR THE STATEMENT OF FINANCIALACTIVITIES- continued Unrestricted fund Restrirted fund Total funds TOTAL FUNDS CARRIED FORWARD 6.(fi9 6,069 CREDITORS: AMOUNTS FALLING DUE WtrHIN ONE YEAR 31.3.23 31.3.22 Othef creditors 2,160 MOVEMENTIN FUNDS Net movement in funds At 31.3.23 At 1.4.22 Unrestricted funds General fund 6.069 13.6751 2,394 TOTAL FUNDS 6,069 13,6751 2,394 Net movement in funds, included in the above are as follows: Incoming source5 Resources expended Movement in funds Unrestricted funds General fund 31,(lJl {34,6761 13,6751 TOTAL FUNDS 31,001 134,6761 13,6751 Page 9 continued...
C kh Meithrin T roes l+lotes to the Financial Statements- continued for the Year Ended 31st Marth 2023 MOVEMENT IN FUNDS- continued Comparatives for movement in funds Net movement in funds At 31.3.22 At 1.4.21 Unrestrirted funds General fund 6,725 16561 6.069 TOTAL FUNDS 6.725 16561 6,(9 Comparative net movement in funds. included in the above are as follows- Incoming reSoUrS Resources expended Movement in funds Unrestricted funds General fund 26,594 127,2501 16561 TOTAL FUNDS 26.594 127.2501 16561 A current year 12 months and prior year 12 month5 combined p)sition 15 3$ follows= Net movement in fvnds At 31.3.23 At 1.4.21 Unrestricted funds General fund 6.725 14,3311 2,394 TOTAL FUNDS 6,725 14.3311 2,394 Page 10 continued...
Ich Melthrin r roe5 Notes to the Financial Statements- continued for the Year Ended 31st Maich 2023 MOVEMENT IN FUNDS- continued A current ye8r 12 months and prior year 12 months combined net movement in funds, included in the above are as follows.. Incoming 9)urS Resour5 expended Movement in funds Unrestricted funds General fund 57.595 161,9261 14,3311 TOTAL FUNDS 57.595 161,9261 14,3311 io. RELATED PARTY DISCLOSURES There were no related party transactions forthe year ended 31st March 2023. Page 11
C kh Meiihrin T roes Detailed Statement of Financial Activities for the Year Ended 31st March 2023 31.3.23 31.3.22 INCOME AND ENDOWMENTS Charitable artivities Fees Grants 19,474 11,527 17,724 8,870 31.001 26.594 Total incoming resources 31,001 26.594 EXPENDITURE Charitable activities Wages Pensions Rent Resources Training Subscriptions 24.637 78 5.956 993 253 155 20.731 3,432 1,491 1,080 32,072 26,734 Support costs Management Uniforms Computer costs 155 109 264 Governance costs Accountancy and legal fees 2,340 516 Total resources expended 34,676 27,250 Net expenditure 13,6751 16561 This page does not form part of the statutory financial statements Page 12