2021-07-31-accounts

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Tafflab

Charity Number: 1182109

Report for the year ended 31 July 2021

Reference and Administrative Detail ...................................................................................................... 2 Objective & Activities .............................................................................................................................. 2 Achievements and Performance ............................................................................................................. 3 Declarations ............................................................................................................................................ 3

Reference and Administrative Detail

Directors / Trustees: At the year ended 31 July 2021, the following were trustees:

Dr Kathy Seddon Mr Peter Wright Dr Jane Croad Dr Meirion Morgan

Mr Dafydd Jones, a Trustee at the year ended 31 July 2020, resigned prior to 31 July 2021.

Charity Name: Tafflab

Charity Number : 1182109

Charity Principal Address:

Coleg y Cymoedd Ystrad Mynach Campus Twyn Road Ystrad Mynach HENGOED CF82 7XR

Objective & Activities

Tafflab’s Charitable Objects, as given on the Charity Commission website, are:

“The relief of financial hardship by making grants of money for providing or paying for items, services or facilities, in relation to starting a business to students, who through lack of means, would otherwise be unable to initiate a business.

To develop the capacity and skills of Welsh students, in socially disadvantages communities, in such a way that they are better able to launch a business idea.

To help young people through the support of support, activities and mentorship which develop their skills, capacities and capabilities to enable them to participate in society as mature and responsible individuals.”

Applicants for Tafflab grants currently attend and are recommended by partner colleges. Tafflab interview to confirm eligibility, work with the Enterprise Champions employed by the colleges and provide mentoring by RSA Fellows. Regular meetings between mentors, mentees and champions confirm progress.

Tafflab’s mentors are selected by and undergo Disclosure and Barring Service (DBS) checks facilitated by the partner college Coleg y Cymoedd.

Achievements and Performance

10 students were selected for the September 2020 cohort – 1 from Coleg y Cymoedd; 4 from Coleg Gwent; 5 from Y Coleg Merthyr Tudful. It must be noted that this cohort looked to develop business activity during early- and mid-2021 when variable lockdowns resulting from the Covid-19 pandemic were in place.

Mentors include previous recipients of awards alongside an established mentor base with significant experience and expertise across a range of industries. All mentors and trustees provide their time on a pro-bono basis.

Tafflab participants who achieve success in business continue to comment on the benefits conferred by the mentoring and support of Tafflab. The contribution participants provide to their local economies through their business activities sits alongside a broader contribution they make to a positive perception of entrepreneurship.

For the year ended 31 July 2021, Tafflab had income of £3,495 and expenditure of £3,944. Tafflab only makes grants to the extent its means allow, and its income to support its operations, including the giving of grants, comes from organisations, trustees and mentors.

At 01 August 2021 Tafflab had cash at bank of £615.

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees.

Signature Full Name Meirion Morgan Position Treasurer

Signature Full Name Peter Wright Position Chair

Charity Name

No (if any)

Receipts and payments accounts

Period start date Period end date To 1-Aug-20 31-Jul-21

For the period from

Section A Receipts and payments

Unrestricted Restricted Endowment funds funds funds

Total funds

----- Start of picture text -----
to the nearest
to the nearest £ to the nearest £ to the nearest £
£
A1 Receipts
Donations 2,870 500 - 3,370
Software refund 125 - - 125
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
2,995 500 - 3,495
Sub total (Gross income for AR)
A2 Asset and investment sales,
(see table).
- - - -
- - - -
Sub total - - - -
Total receipts 2,995 500 - 3,495
A3 Payments
Awards 3,300 500 - 3,800
Software 144 - - 144
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
Sub total [ 3,444 ] 500 - 3,944
A4 Asset and investment
purchases, (see table)
- - - -
- - - -
Sub total [ - ] - - -
Total payments 3,444 500 - 3,944
Net of receipts/(payments) - 449 - - - 449
A5 Transfers between funds - - - -
A6 Cash funds last year end - - - -
Cash funds this year end - 449 - - - 449
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Section B Statement of assets and liabilities at the end of the period

			Unrestricted		Restricted
Categories	Details		funds		funds
B1 Cash funds		*Total cash funds*	to nearest £ - - - 615		to nearest £ - - - -
	(agree	balances with receipts and payments account(s))	Agreement Error	OK
			Unrestricted		Restricted
			funds		funds
B2 Other monetary assets	Details		to nearest £ - - - - - -		to nearest £ - - - - - -
B3 Investment assets	Details		Fund to which asset belongs	Cost (optional) - - - - -
B4 Assets retained for the	Details		Fund to which asset belongs	Cost (optional) -
charity’s own use					- - - - - - - -
B5 Liabilities	Details		Fund to which liability relates		- - - - - Amount due (optional)
Signed by one or two trustees on behalf of all the trustees		Signature	Print	Name
			Meirion Morgan

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CC16a
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Last year

to the nearest £

Endowment funds to nearest £ - - - -

Endowment funds

to nearest £

Current value (optional)

When due (optional)

Date of approval

6-Sep-21

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