REGISTERED CHARITY NUMBER: 1181562 Re rt of the Trustees and Unaudited Financial Statements forthe Year Ended 31st March 2024 for C l¢h Meithrln T roes A5hmole & Co Chartered Certified Accountants Castle House High Street Ammanford Carmarthenshire SA18 2N8
h Meithrin T roes Lontents of the Financial S_tstements lor the Year Ended 31st March 2024 Page Report of the Trustees Independent Examiner's Rep Statement of Finanaal ActNities Balance Sheet Notes to the Financial Statements 6 to 12 Detailed Statement of Financial Activities 13
h Meithrin T Re rt of the Trustees forthe Year Ended 31st March 2024 The trustees present their report with the financial statements of the charity for the year ended 31st March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities= Statement of Recommended Practice applicable to charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191. OBJECTIVES AND AcfiviTIES Objectives and aim5 The object of the charity is to run a Cylch Meithrin for preschool children during normal school term times. Through the medium of Welsh, the charity a55iSts with play, learrhing and basic education to enable the children to make a smooth prog¥ession into school life. Public benefit The trustees confirm that they have complied with their duty in se(tion 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 k)cal community. with a wide range of activities to promote progress in all areas of a child's learning and development. All session are open during Carmarthenshire County Counchl school term time onlv. FINANCIAL REVIEW Financial position The charity is funded partly by Carmarthenshire County council and partly by children's fees. Reserves pollcy The Trustees review the needs for reserves in line with guidance issued by the Charity Commission. It is the policy of the charity to maintain unrestricted funds to ensure sufficient resetves 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 document The Iharity is controlled by its Eoverning document, a deed of tnjst and constitutes an unincorporated charity. REFERENCE ANO ADMINISTRATIVE DETAILS Registered Charity number 1181562 Page I
ch Meithrin T rt of the Trustees for the Year Ended 31st March 2024 Principal address 10 High Street Glanamman Ammanford Carmarthenshire SA18 IDX Trustees T M Higgins A Leach l Llewellyn Independent Examiner Ashmole & Co Chartered Certified Accountants Castle House High Street Ammanford Carmarthenshire SA18 2NB Approved by order of the board of trustees on ...Q.i.l i ul IO.:........ and signed on its behalf by.. T M Higgin5- Trustee Page 2
Inde dent Examinerfs Report to the Trustee5 of ch Meithrin T croes Independent examiner's report to the trustees of Cylih Meithrin Tycroes I report to the charity trustees on my examination of the accounts of Cylch Meithrin Tycroes (the Trust) for the year ended 31st March 2024. Responsibilities and basis of report As the charity trustees of the Trust you are responsrble for the preparatn of the accounts in accordance with the requirements of the Charities Act 20111.the Act'l. I report in respect of my examination of the Trust's COUnts 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 14515llbl of the Act. Independent examiner'5 Statement I have completed my 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 fftaterial respect- accounting records were not kept in respect of the TTUSt as 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 collcerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2(8 other than any requirement that the accounts give a true and fair view which is not a matter considered a5 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 understanding of the accounts to be reached. Mrs Laura Craddock Ashmole & Co Chartered Certified Accountants Castle House High Street Ammanford Carmarthen5hire SA18 2NB Date= Page 3
h Meithrin T roes ststement of Financial Activitie5 for the Year Ended 3tst March 2024 31.3.24 Total funds 31.3.23 Total funds Unrestricted fund Restrirted fund Notes INCOME AND ENOOWMENTS FROM Charitable activities Charitable activities 34,205 4,981 39.186 31.001 EXPENDITURE ON Charitable artivities Charitable activities 37.618 519 38,137 34,676 Other 1,234 1,234 Total 38.852 519 39,371 34,676 NET INCOMEIIEXPENDITURE) 14.6471 4.462 11851 13,6751 RECONCILIATION OF FUNDS Total funds brought forward 2.394 2.394 6.069 TOTAL FUNDS CARRIED FORWARD 12.253} 4,462 2,209 2,394 The note5 form part of these financial ststements Page 4
ch Meithrin T roes Balance Sheet 3tst March 2024 31.3.24 Totsl funds 31.3.23 Total funds Unrestricted fund Restricted fund Notes CURRENT ASSErs Cash at bank 4,462 4,462 4,554 CREDITORS Amounts falling due within one year 12.2531 12.2531 2,1601 NET CURRENT ASSETSIILIAeiLITIESI 12.2531 4,462 2,209 2,394 TOTAL ASSETS LESS CURRENT UABIUTIES 12,2531 4.462 2,209 2,394 NET ASSETS 12.2531 4.462 2,209 2,394 FUNDS Unrestricted fijnds Restricted funds io 12,2531 4,462 2,394 TOTAL FUNDS 2.209 2,394 The financial statements were approved by the Board of TrteeS and authorised for issue on Oi [-: .i..@Q.a.S...-. and were signed on its behalfby= T M HginS- Trustee The notes forwn part of these financial ststements Page 5
ch Meithrin T roe5 Notes to the Financial Statements for theyear Ended 31st March 2024 ACCOUNTING POUCIES Basis of preparing the financial statements The financial statements of the charity. which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 102} '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 leffective I january 20191,, Financial Reporting Standard 102 'The Financi31 Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Att 2011. The financial statements have been prepared under the historical cost convention. Income All income is recognTsed in the Statement of Financial ActNities once the charity has entTtlement to the funds. it is probable that the income will be received and the amount can be measured reliablv. Expenditure Liabilities are recognised as eypenditure 35 soon as there is a legal or con5trurtive obligation committing the charity to that expenditure. it is probable that a transfer of economic benefits will be required in settlement and the amourht 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 lated to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Taxation The charity is exempt from tax on its charitsble activities. Fund a¢¢ounting Unrestricted funds can be used in accordan with the charitable objectives at the discretion of the tru5tee5. Restricted fund5 can only be used for particular restricted purpose5 Within the objects of the charity. Restrirtions arise when specified by the donor or when funds a raised for particular restficted purposes. Further explanation of the nature and purpose of each fund is included in the note5 to the financial statements. Hire purchase and leasing commitments Rentals paid under operating lease5 are charged to the Statement of Financi31 Activities on a straight line basis over the period of ihe lease. Pension costs and other post-retirement benefits The charity operates a defined contribution pension scheme. Contributions payable to the chBritV'5 pension scheme are charged to the Statement of Financial Activitie5 in the period to which they relate. Page 6 continued...
kh Meithrin T Notes to the Financial Statements- continued for the Year Ended 31st March 2024 INCOME FROM CHARITABLE ACTIVITIES 31.3.24 31.3.23 Actwity Charitable activities Charitable activities Fees Grants 26,242 12,944 19,474 11.527 39,186 31.001 Grants received, included in the above. a as follows= 31.3.24 31.3.23 Local Aid Mudiad Meithrin Carmarthen County Council Training Grant Llar)edi communty council Ceredigion Council Welsh Government 450 5tLI 5.904 1,850 1,948 I,oK)o I,(M)O 4,409 1,320 5,910 12,944 11,527 CHARITABLE ACTIVITIES COSTS Support costs (see note 41 Oirect Costs Totals Charitable artivities 35,914 2,223 38,137 SUPPORT COSTS Governance costs Management Totals Charitable activities 570 1,653 2.223 Page 7 continued...
ch Meithrin T roes Notes to the Financial Statements- continued forthe Year Ended 31st March 2024 TRUSTEE5' REMUNERATION AND BENEFITS There were no trLSStees' remuneration or other benefits for the year ended 31st March 2024 nor for the year ended 315t March 2023. Trustees. expenses There weie no trustees, expenses paid for the year ended 31$1 March 2024 nor for the year ended 31st March 2023. STAFF COSTS 31.3.24 31.3.23 Wages and salaries Other pension costs 26,335 95 24,637 78 26,430 24,715 The average monthly number of employees during the year was as follows: 31.3.24 31.3.23 Average number of employees No employees received emoluments in excess of £60.(MJ). COMPARATIVES FOR THE STATEMENTOF FINANCIALA1VITIES Unrestricted fund Restrirted fund Total funds INCOME AND ENDOWMENTS FROM Charitable activities Charitable activities 31,(K)I 31,001 EXPENDITURE ON Charitable actiwties Charitable activities 34.676 34,676 NET INCOMEIIEXPENDITUREI 13,6751 13,6751 RECONCILIATION OF FUNDS Total funds brought foiward 6,(69 6,069 Page 8 continued...
h MeithrinT roes Note5 to the Financtal Statements- continued for the Year Ended 31st March 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- continued Unrestricted fund Restricted fund Total funds TOTAL FUNDS CARRIED FORWARD 2.394 2,394 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Bank loans and overdrafts (see note 91 Other creditors 792 1,461 2,160 2,253 2,160 LOAN5 An analysis of the maturity of loans is given below: 31.3.24 31.3.23 Amour¢ts falling due within one year on demand.. Bank overdrafts 792 io. MOVEMENTIN FUN05 Net movement in funds At 31.3.24 Atl.4.23 Unrestrirted funds General fund 2.394 14,6471 12.2531 Restricted funds Carmarthenshire County Council Small Grant Scheme 202312024 4.462 4.462 TOTAL FUNDS 2.394 11851 2,209 Page 9 continued...
ch Meithrin T roes Notes to the Finanaal Statements- continued for the Year Ended 31st March 2024 io. MOVEMENT IN FUNDS- continued Net movement in funds. included in the above 3re a5 follows: Incoming reSoUrS Resources expended Movement in funds Unrestricted funds General fund 34,205 138,8521 14,6471 Restrirted funds Carmarthen5hire County Council Small Grant Scheme 202312024 4.981 15191 4,462 TOTAL FUNDS 39.186 139.3711 11851 Comparatives for movement in 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.(9 13.6751 2.394 Comparative net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds UnstrICted funds General fund 31.(KJl 134,6761 13,6751 TOTAL FUNDS 31.001 134,6761 13,6751 Page 10 continued...
¢h Meithrin T Notes to the Financial Statements- contin for the Year Ended 31st March 2024 io. MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months combined wsition is as follows: Net movement in funds At 31.3.24 At 1.4.22 Unrestritted funds General fund 6,069 18,3221 12,2531 Restricted funds Carmarthenshire County Council Small Grant Scheme 202312024 4.462 4,462 TOTALFUNDS 6.069 13.8601 2,209 A current year 12 months and prior year 12 month5 combined net movement in funds. included in the above are as follow5-. Incoming resources Resources expended Movement in funds Unrestri¢ted funds General fund 65,206 173,5281 18,3221 Restricted funds Carmarthenshiie County Council Small Grant Scheme 202312024 4,981 15191 4,462 TOTAL FUNDS 70.187 174,0471 13,8601 Page 11 continued...
h Meithrin T roe5 Notes to the Financial Statements- continued for the Year Ended 31st March 2024 11. RELATED PARTY DISCLOSURES There were no related party transactior15 for the year ended 31st March 2024. Page 12
Ichm ithrin T roes Detailed Statement of Finan¢ial Activrf(ies for the Year Ended 31st March 2024 31.3.24 31.3.23 INCOME AND ENDOWMENTS Charitable activitie5 Fees Grants 26.242 12,944 19,474 11,527 39,186 31,001 Total incoming resources 39,186 31,001 EXPENDITURE Charitable artiwties Wages Pensions Rent Resources DBS checks Training Subscriptions 26,335 95 8,350 24,637 78 5,956 993 48 74 125 253 155 35,914 32,072 Other Hire of plant and machinery 1,234 Support ¢osts Management Uniform5 Computer costs Repairs & renewa15 155 109 520 50 570 264 Governance costs Accountancy and legal fees 1,653 2,340 Total resource5 expended 39,371 34,676 Net expenditure 11851 13,6751 This page does not form part of the statutory financial statements Page 13