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2021-03-31-accounts

Little Lounge CIO

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

Charity Number 1181770

Cilfynydd Community Centre, Howell Street, Pontypridd, CF37 4NR

LITTLE LOUNGE CIO

REFERENCE & ADMINISTRATIVE INFORMATION

Registered Charity Number 1181770
Principal Address Cilfynydd Community Centre
Howell Street
Pontypridd
CF37 4NR
Trustees Mrs Katie Hadley (Chair until 10 March 21 when resigned)
Mrs Una Hilder (Joined and Chair from 10 March 21)
Mr Mark Pont
Mrs Suzanne Spooner
Mrs Fionn Vance
Bookkeepers Your Business Hub Services Ltd
Ty Menter
Navigation park
Abercynon
CF45 4SN
Bankers Santander HSBC
Fraternal Parade 92A Taff St
Pontypridd Pontypridd
CF37 4UH CF37 4SR

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LITTLE LOUNGE CIO

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021

The trustees present their report and the financial statements of the charity for the year ended 31 March 2021

CONSTITUTION & LEGAL STATUS

Little Lounge is a Charitable Incorporated Organisation (CIO).

The CIO was registered with the Charity Commission on 29 January 2019 and the Charity Registration Number is 1181770.

OBJECTS OF THE CHARITY

The Trustees of Little Lounge CIO seek

TRUSTEES

The method of appointment of trustees is set out in the Governing Document dated 21 January 2019. No trustees are remunerated.

The need for new trustees is reviewed regularly and when appropriate possible names are presented at a trustee meeting for consideration. The existing trustees make any new appointments, for an indefinite period. New trustees are given copies of the governing documents, appropriate Charity Commission information and recent trustee minutes.

During the year ended 31 March 2021 the following people acted as trustees:

Mrs Suzanne Spooner

Mrs Fionn Vance

RISK REVIEW

The management committee regularly reviews the major risks to which the charity is exposed and systems are established to mitigate these risks. These procedures are periodically reviewed to ensure that they still meet the needs of the charity.

RESERVES POLICY

The trustees decided to maintain a small financial reserve, approximately equivalent to the normal, predictable outgoings in one month.

FINANCIAL REVIEW

These accounts cover the period of the Charity from 1[st] April 2020 to 31[st] March 2021

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LITTLE LOUNGE CIO

ACHEIVEMENTS & PERFORMANCE

2020 was undoubtedly our most unsettled year, having to close all our face to face activities and events for the Spring. However, the needs in the community presented during the ‘lockdown’ period pushed us to adapt and expand our community work; Thursday mornings went ‘Live’ on Facebook, we also started a YouTube channel for families to access Early Years videos. We partnered with a new local initiative ‘Grow Pontypridd’ and used the Garden space for Seed Swaps and Gardening ‘Open days’ in June and July.

Cilfynydd Community Pantry

In August 2020 we trialled a Community Pantry idea, the suggestion from one of the trustees was to use our regular ‘FareShare’ collections from Tesco Extra, Upper Boat; to distribute to anyone in the local Community. At that time residents who were over 70 and with underlying health conditions had been ‘shielding’ since Covid lockdown came into place in March. We were able to offer affordable bakery products, fruit and vegetables twice a week within walking distance of people’s homes. The local bus service was not running which meant many people were isolated and unable to manage their weekly shopping trips. The Community Pantry was initially trialled as a four week pilot scheme but has become a permanent aspect of our charity work.

At the end of the Pantry pilot scheme in August 2020 we conducted a community survey with approx. 60 respondents, online and paper copies were collected. 100% of respondents wanted the project to continue.

An important aspect of the Pantry is to focus on the environmental benefits of the project. Between August – December 2020 The Community Pantry supported 414 households to access surplus food worth £2000 otherwise destined for landfill. This has generated revenue of £982.45 for Little Lounge between those dates.

We emphasise in all the publicity that this is not a Foodbank, but is intentionally destigmatised and service users are doing something valuable for the planet.

Survey results showed approximately 130 service beneficiaries a week when including members of each household. Sessions are currently 1 hour on a Thursday evening and 1.5 hours on a Friday morning.

Parents would also use the Garden space for their Toddlers to play on Friday mornings after visiting the Pantry. This became a vital meeting space for local young families even right into the winter whilst many other early years provisions were shut because of Covid restrictions. This was the catalyst for our Outdoor Adventures Group.

The Pantry initiative drew increased interest locally from new volunteers to be involved, with our volunteer base increasing to a team of 16.

Business Support & Funding

During the autumn of 2020 as an organisation we received business support through Wales Coop, including financial consultancy, HR and Environmental. We were equipped significantly with policies and financial plans and projections and were coached to write an updated business plan.

An Awards for All Grant of £7050 was awarded in Nov 2020 recognising the value of the Community Pantry and our aspiration to aim to stock local refillable produce to cut down on the community’s use of plastic. This grant was also awarded to fund a sessional worker to develop the Outdoor Toddler group, recognising the benefits to children when playing in nature and being outdoors.

A Funding coach encouraged us to apply for £25,000 to the WCVA for the Third Sector Resilience Fund. Applying for salary costs for a Business Development Manager, Outdoor Adventures Toddler Group assistant and capital funding for the development of the Community Pantry. We were successfully awarded £35,000 in March 2021 an extra £10,000 above our application.

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LITTLE LOUNGE CIO

In January 2021 we resubmitted our application to local authority Rhondda Cynon Taf for the lease of the basement space of Cilfynydd Community Centre via the Community Asset Transfer Scheme. This space has been the venue for the Community Pantry project and the adjoining outdoor area has been used for Community Gardening space.

With our updated Business Plan, we have been accepted for the Community Asset Transfer scheme and negotiated a rate of £550 per annum, with no rent review, for 25 years.

We plan a phased approach to the renovation of the space. Initially focusing on independent incoming services of water, gas and electricity, installing WC and hand wash facilities in order to create a clean and safe serving area for the Community Pantry. This first phase of build work will cost approx. £65,000 which we plan to fund through a collaboration of small funding bids.

Conclusion

In conclusion 2020-2021 has forced us to be adaptable and responsive to changing circumstances and needs in the community. We have developed our core team as well as our volunteer base and are in a strengthened position to press into the coming year with the challenges of funding and site renovations ahead.

RESPONSIBILITIES OF THE TRUSTEES

Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Trust as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure for the financial year.

In preparing those financial statements the trustees should follow best practice and

The trustees are responsible for maintaining proper accounting records which disclose at any time the financial position of the charity and to enable them to ensure that the financial statements comply with charity legislation. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the trustees on 28 January 2022 and signed on their behalf

………………………………………………………………. Mrs Una Hilder Trustee

………………………………………………………………. Mr Mark Pont Trustee

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LITTLE LOUNGE CIO

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES ON THE UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

I report on the accounts of Little Lounge CIO for the year ended 31 March 2021 set out on pages 3 to 11.

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND INDEPENDENT EXAMINER

As the charity's trustees you are responsible for the preparation of the accounts, you consider that the audit requirement of section 144(2) of the Charities Act 2011 (the Act) does not apply and that an independent examination is needed. It is my responsibility to examine the accounts under section 145 of the Act, to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the Act, and to state whether particular matters have come to my attention.

BASIS OF INDEPENDENT EXAMINER'S STATEMENT

My 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 trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.

In connection with my examination, no matter has come to my attention:

……………………………………………………………….

Mr Paul Burnell C Management Services Ltd Independent Examiner 69 Velindre Road Cardiff CF14 2TF

Date: 31 January 2022

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LITTLE LOUNGE CIO

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021

Notes
Incoming resources
Charitable Activities
Donations
Grants Income
2
Other
Total incoming resources
Resources expended
Charitable Activities
Activity Costs
Operations & Administration
Grants Expenses
3
Total resources expended
Net incoming/(outgoing)
resources before transfers
Transfer between funds
Net incoming/(outgoing)
resources for the year
Total funds brought forward
Total funds carried forward		 Unrestricted
Funds
Restricted
Funds
2020-21
Total
£
£
£
2,053
0
2,053
465
0
465
0
37,900
37,900
1
0
1
2,519
37,900
40,419
1,740
0
1,740
1,189
0
1,189
0
11,646
11,646
2,929
11,646
14,575
(410)
26,254
25,844
0
0
0
(410)
26,254
25,844
6,935
12,181
19,116
6,526
38,435
44,961		 (15 Months)
2019-20
Total
£
6,336
529
33,500
10
40,376
7,298
9,143
4,819
21,260
19,116
0
19,116
0
19,116

The statement of financial activities includes all gains and losses in the year and therefore a separate statement of total recognised gains and losses has not been prepared.

All the above amounts relate to continuing activity.

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LITTLE LOUNGE CIO

BALANCE SHEET AS AT 31 MARCH 2021

Notes
Current Assets
Cash at bank and in hand
Debtors
Total Current Assets
Current Liabilities
Creditor amounts falling due within one year
Net Current Assets
Fixed Assets
Tangible Assets
4
Total Assets less Current Liabilities
Non-Current Liabilities
Creditor amounts falling due after more than one
year
Net assets
Funds
Restricted Funds
5
Unrestricted Funds
6
Total funds		 31 March 21
£
44,493
0
44,493
0
44,493
468
44,961
0
44,961
38,435
6,526
44,961		 31 March 20
£
19,116
0
19,116
0
19,116
0
19,116
0
19,116
12,181
6,935
19,116

Notes in pages 9 to 11 form part of these accounts

Approved by the trustees on 28 January 2022 and signed on their behalf

………………………………………………………………. Mrs Una Hilder Trustee

………………………………………………………………. Mr Mark Pont Trustee

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LITTLE LOUNGE CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1. Accounting Policies

The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the year preceding.

1.1. Basis of Preparation

The financial statements have been prepared in accordance with 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 (FRS 102) (effective 1 January 2015) - (Charities SORP (FRS 102); and the Charities Act 2011.

The accounts have been prepared on an accruals basis.

1.2. Cashflow

The charity has taken advantage of the exemption in FRS1 from the requirement to produce a cashflow statement because it is a small charity.

1.3. Fund Accounting

Funds held by the charity are either:

  1. Unrestricted Funds - these are funds which can be used in accordance with the charity's objectives, at the discretion of the trustees.

  2. Designated Funds - these are funds set aside by the trustees out of unrestricted general funds for a specific future purpose or projects

  3. Restricted Funds - these are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

1.4. Incoming resources

All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific polices are applied to particular categories of income:

  1. Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable.

  2. Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included.

  3. Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. Other grants, including grants for the purchase of fixed assets, are recognised in full in the statement of financial activities in the year in which they are receivable.

  4. Legacies are included when the charity is advised by the personal representative of an estate that payment will be made or property transferred and the amount involved can be quantified

1.5. Resources expended

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of as indirect nature necessary to support them.

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LITTLE LOUNGE CIO

Operational costs include Governance costs associated with meeting the constitutional and statutory requirements of the charity and include accountancy fees, costs relating to the strategic development of the charity, management of assets and organisational administration.

2. Grants Income

Interlink Microgrant
National Lottery
Pontypridd Town Council
RCT
Seedbed
TNL Awards for All
WCVA Flood
WCVA Thrive/Revive
Total		 Unrestricted
Funds
Restricted
Funds
2020-21
Total
£
£
£
0
250
250
0
0
0
0
200
200
0
500
500
0
0
0
0
7,050
7,050
0
0
0
0
29,900
29,900
0
37,900
37,900		 (15 Months)
2019-20
Total
£
0
12,000
0
0
16,500
0
5,000
0
33,500
3.
Grants Expenses
National Lottery
TNL Awards for All
WCVA Flood
Total		 Unrestricted
Funds
Restricted
Funds
2020-21
Total
£
£
£
0
6,656
6,656
0
150
150
0
4,840
4,840
0
11,646
11,646		 (15 Months)
2019-20
Total
£
4,819
0
0
4,819

4. Fixed Assets

ets
Cost
At 1 April 2020
Additions
At 31 March 2021
Depreciation
At 1 April 2020
Charge for the year
At 31 March 2021
Net book values
At 31 March 2020
At 31 March 2021		 Computer
Equipment
£
0
474
474
0
(6)
(6)
0
468

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LITTLE LOUNGE CIO

5. Restricted Funds

5.
Restricted Funds
Interlink Microgrant
National Lottery
Pontypridd Town Council
RCT
TNL Awards for All
WCVA Flood
WCVA Thrive/Revive
Total
6.
Unrestricted Funds
Unrestricted Funds
Total		 At 1
April 20
Incoming
resources
Outgoing
resources
Transfers
£
£
£
£
0
250
0
0
7,181
0
(6,656)
0
0
200
0
0
0
500
0
0
0
7,050
(150)
0
5,000
0
(4,840)
0
0
29,900
0
0
12,181
37,900
(11,646)
0
At 1
April 20
Incoming
resources
Outgoing
resources
Transfers
£
£
£
£
6,935
2,519
(2,929)
0
6,935
2,519
(2,929)
0		 At 31
March 2021
£
250
525
200
500
6,900
160
29,900
38,435
At 31
March 2021
£
6,526
6,526

7. Transactions with Trustees

There were no transactions with the Trustees during the year

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