2022-07-31-accounts

Tafflab

Charity Number: 1182109

Report for the year ended 31 July 2022

Contents

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

1

Reference and Administrative Detail

Directors / Trustees: At the year ended 31 July 2022, the following were trustees:

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

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.

2

Achievements and Performance

10 students were selected for the September 2021 cohort – 2 from Coleg y Cymoedd; 4 from Coleg Gwent; 4 from Y Coleg Merthyr Tudful.

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 2022, Tafflab had income of £3,500 and expenditure of £2,700. 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 2022 Tafflab had cash at bank of £1,415.

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

3

TAFFLAB 1182109

Receipts and payments accounts

Period start date Period end date To 1-Aug-21 31-Jul-22

For the period from

Section A Receipts and payments

Unrestricted Restricted Endowment funds funds funds

Total funds

to the nearest £

to the nearest £

to the nearest £ to the nearest £

A1 Receipts

----- Start of picture text -----
Donations 3,000 500 - 3,500
Software refund - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
3,000 500 - 3,500
Sub total (Gross income for AR)
A2 Asset and investment sales,
(see table).
- - - -
- - - -
Sub total - - - -
Total receipts 3,000 500 - 3,500
A3 Payments
Awards 2,450 250 - 2,700
Software - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
Sub total [ 2,450 ] 250 - 2,700
A4 Asset and investment
purchases, (see table)
- - - -
- - - -
Sub total [ - ] - - -
Total payments 2,450 250 - 2,700
Net of receipts/(payments) 550 250 - 800
A5 Transfers between funds - - - -
A6 Cash funds last year end 615 - - 615
Cash funds this year end 1,165 250 - 1,415
----- End of picture text -----

Section B Statement of assets and liabilities at the end of the period

			Unrestricted		Restricted
Categories	Details		funds		funds
B1 Cash funds	Cash at bank	Total cash funds	to nearest £ 1,165 - - 1,165#		to nearest £ 250 - - 250
	(agree balances with receipts and payments account(s))		OK	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

----- Start of picture text -----
CC16a
----- End of picture text -----

Last year

to the nearest £

2,870 125 - - - - - - 2,995

2,995

3,300 144 - - - - - - - 3,444

3,444 - 449 - 1,064 615

Endowment funds to nearest £ - - - -

OK

Endowment funds

to nearest £

-

Current value (optional)

-

Current value (optional)

-

When due (optional)

Date of approval

25-May-23