## **ANNUAL REPORTS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **FRIENDS OF COED**
## **GWILYM PARK**
(Charitable Incorporated Organisation)
## **CHARITY REGISTRATION No: 1182299**
Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS
## **FRIENDS OF COED GWILYM PARK**
(Charitable Incorporated Organisation)
## **CONTENTS**
|Page 3|Legal and Administrative Information|
|---|---|
|Pages 4|Trustees' Report|
|Page 5|Statement of Financial Activities|
|Page 6|Balance Sheet|
|Pages 7 to 12|Notes to the Financial Statements|
|Page 13|Independent Examiner's Report|
## **FRIENDS OF COED GWILYM PARK**
(Charitable Incorporated Organisation)
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**CHARITY NUMBER** 1182299 **DATE OF REGISTRATION** 4th March 2019 **START OF FINANCIAL YEAR** 1st January 2022 **END OF FINANCIAL YEAR** 31st December 2022 **TRUSTEES AT 31ST DECEMBER 2022** Gwyn Evans David Rooke Chris Holloway Denise Sparks Clive Osborne Robert Beale Steven Vincent Veronica Fuller Paulette Smith (Appointed 26th June 2022) Bill Gowman (Appointed 26th June 2022) Trevor Martin (Resigned 26th June 2022) **LEGAL STATUS** Charitable Incorporated Organisation **GOVERNING INSTRUMENT** CIO - Foundation Registered 4th March 2019
## **OBJECTS**
For the benefit of the inhabitants of Clydach, Swansea and the surrounding area (the area of benefit), to provide or assist in the provision of facilities for the recreation and other leisure time occupation in the interest of social welfare with the objects of improving the conditions of life for the inhabitants of the area of benefit and in particular but not exclusively by the preservation, promotion, support and improvement of Coed Gwilym Park and its amenities.
**CORRESPONDENCE ADDRESS** 17 Oakland Close Glais Swansea SA7 9EW **PRIMARY BANKERS** Barclay Bank Plc 1 Churchill Place London E14 5HP **INDEPENDENT EXAMINERS** Castle View Accounting Ltd New Barn Mudberry Lane Bosham Chichester West Sussex PO18 8TS
3
FRIENOS OF COED GVIILYM PARK
TRUSTEES, REPORT
FOR ThE YEAR ENDED 31ST DECEMBER 2022
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## **FRIENDS OF COED GWILYM PARK**
(Charitable Incorporated Organisation)
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2022**
|**Notes**
**INCOMING RESOURCES**
**Incoming Resources from Generated Funds**
Donations, Grants & Legacies
**3a**
**TOTAL INCOMING RESOURCES**
**RESOURCES EXPENDED**
**Costs of Generating Funds**
Cost of Charitable Activities
**4a**
Governance Costs
**4b**
**TOTAL RESOURCES EXPENDED**
**NET INCOMING (OUTGOING) RESOURCES**
Funds Brought Forward
Transfer Between Funds
**5**
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**2022**
**2021**
£
£
£
£
5,934
238,010
243,944
102,159
**5,934**
**238,010**
**243,944**
**102,159**
12,382
329,914
342,296
8,885
2,365
-
2,365
550
**14,747**
**329,914**
**344,661**
**9,435**
**(8,813)**
**(91,904)**
**(100,717)**
**92,724**
7,585
91,479
99,064
6,340
(425)
425
-
-
**(1,653)**
**-**
**(1,653)**
**99,064**|
|---|---|
Movements on all reserves and all recognised gains and losses are shown above. All of the organisation's operations are classed as continuing.
The notes on pages 8 to 12 form part of these financial statements.
5
FRIENDS OF COED GWILYPJJ PARK
BALANCE SHEET
AS AT 31ST DECEMBER 2tr22
T¢W
T•i•l
J14)••-22 )1•041
F• AB••ts
Tar*Jible AMet*
Tat•l Flx•d
CMh •1 •nd In Hand
Tatsl Curw•rtA••
19.012
99,014
NET CUIIREPIT ASSETS
18.247
18.247
1&247
19
l•.kY#)
PIET Assers
rfth•erfty
Gor*I Fund*
Re•trKi•d FwwJ•
(1.653)
11.4531
7,505
91.479
Tal•1 Fub
## **FRIENDS OF COED GWILYM PARK**
(Charitable Incorporated Organisation)
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **1. ACCOUNTING POLICIES**
## **Basis of Preparation & Assessment of Going Concern**
## **Basis of Preparation**
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) - (Charities SORP - FRS102) and the Charities Act 2011.
The Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost unless otherwise stated in the relevant accounting policy notes.
## **Assessment of Going Concern**
Preparation of the accounts is on a going concern basis. The trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern.
## **Incoming Resources**
## _**Recognition of Incoming Resources**_
These are included in the Statement of Financial Activities (SOFA) when:
▪ the charity becomes entitled to the resources;
▪ the trustees are virtually certain they will receive the resources; and
▪ the monetary value can be measured with sufficient reliability
## _**Incoming Resources with Related Expenditure**_
Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resource and related expenditure are reported gross in the SOFA.
## _**Grants and Donations**_
Grants and Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
## _**Tax Reclaims on Donations and Gifts**_
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.
## _**Contractual Income and Performance Related Grants**_
This is only included in the SOFA once the related goods or services has been delivered.
## _**Gifts in Kind**_
Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable.
## _**Donated Services and Facilities**_
These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value placed on these resources is the estimated value to the charity for the service or facility received.
## _**Volunteer Help**_
The value of any voluntary help received is not included in the accounts.
## _**Investment Income**_
This is included in the accounts when receivable.
## _**Investment Gains and Losses**_
This included any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
7
## **FRIENDS OF COED GWILYM PARK**
(Charitable Incorporated Organisation)
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **1. ACCOUNTING POLICIES (continued)**
## **Expenditure and Liabilities**
## _**Liability Recognition**_
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
## _**Governance Costs**_
Include costs of the preparation and examination of statutory accounts, the costs of the trustees meetings and cost of any legal advice to trustees on governance or constitutional matters.
## _**Grants with Performance Conditions**_
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SOFA once the recipient of the grant has provided the specified service or output.
## _**Grants Payable without Performance Conditions**_
These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to a grant which remain in control of the charity.
## _**Investments**_
Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at trustees' best estimate of market value.
## _**Unrestricted funds**_
These funds can be used for the general objectives of the charity as set out in the trustees report. The movements of the unrestricted funds are given in the Statement of Financial Activities.
## _**Restricted funds**_
These funds are where the donor has specified a purpose for the donation made. These restrictions often arise as a result of appeals for special offerings for specific purposes.
## _**Designated funds**_
These funds are funds set aside by the trustees out of unrestricted general funds for particular purposes or projects.
## _**Leasehold Land and Buildings**_
The Council of the City and County of Swansea have granted a lease for the land and buildings utilised by the Friends for Coed Gwilym Park (Registered Charity Number 1182299). The Charity has been granted a 125 year lease on a zero cost per annum in order to assist the in furthering the Charity's objects. The Council of the City and County of Swansea granted the lease on the 30th March 2022 and the lease term will expire on the 29th March 2147.
## _**Fixed Assets**_
Fixed Assets are capitalised if they can be used for more than one year and cost at least £1,500. They are valued at cost or, if gifted, at the value to the charity on receipt.
## _**Depreciation Expense**_
Depreciation is calculated at a rate to write off the cost of tangible fixed assets over their estimated useful lives. The rates applied are as follows:
Fixtures, Fittings and Equipment
25% - Reducing Balance
## **2. TANGIBLE FIXED ASSETS**
The CIO held no tangible fixed assets during this or the previous financial year.
The annual commitments under non-cancelling operating leases and capital commitments are as follows: 31st December 2022 : None
31st December 2021 : None
8
## **FRIENDS OF COED GWILYM PARK**
(Charitable Incorporated Organisation)
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **3. INCOMING RESOURCES**
|**Note**
**a) Donations, Grants & Legacies**
Gifts & Donations
**5**
Grants Received
**5**|Unrestricted
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**2022**
**2021**
£
£
£
£
5,934
26,708
32,642
10,991
-
211,302
211,302
91,168
**5,934**
**238,010**
**243,944**
**102,159**|
|---|---|
## **4. RESOURCES EXPENDED**
|**a) Cost of Charitable Activities**
Advertising & Publicity
Fundraising Costs
Gifts & Donations
**5**
Insurance Costs
Licenses & Subscriptions
Pavilion Project
**5**
Planning Fees
**5**
Repairs & Maintenance
Sundry Expenses
Telephone Costs
Training Costs
Utility Costs
Website Costs
`
**b) Governance Costs**
Independent Examiners Fees
**9**
Legal & Professional Fees|Unrestricted
Restricted
**TOTAL**
**TOTAL**
Funds
Funds
**2022**
**2021**
£
£
£
£
2,047
-
2,047
-
5,000
-
5,000
-
-
2,500
2,500
-
1,323
-
1,323
-
27
-
27
-
-
321,441
321,441
6,480
-
5,973
5,973
372
1,565
-
1,565
1,245
371
-
371
553
243
-
243
-
192
-
192
-
1,380
-
1,380
-
235
-
235
235
**12,382**
**329,914**
**342,296**
**8,885**
765
-
765
550
1,600
-
1,600
-
**2,365**
**-**
**2,365**
**550**|
|---|---|
9
## **FRIENDS OF COED GWILYM PARK**
(Charitable Incorporated Organisation)
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **5. RESTRICTED FUNDS**
## **CURRENT FINANCIAL YEAR**
|New Community Club House
Park Facilities Fund
Clydach Football Club Fund|**Balance**
**Balance**
**01-Jan-22**
Income
Expenditure
Transfers
**31-Dec-22**
£
£
£
£
£
84,248
235,510
320,183
425
-
7,231
-
7,231
-
-
-
2,500
2,500
-
-
**91,479**
**238,010**
**329,914**
**425**
**-**|
|---|---|
## **PREVIOUS FINANCIAL YEAR**
|New Community Club House
Park Facilities Fund|**Balance**
**Balance**
**01-Jan-21**
Income
Expenditure
Transfers
**31-Dec-21**
£
£
£
£
£
-
84,248
-
-
84,248
7,231
-
-
-
7,231
-
**7,231**
**84,248**
**-**
**-**
**91,479**|
|---|---|
Restricted funds are wholly represented by the charity's cash reserves and are to be expended as specified above.
10
## **FRIENDS OF COED GWILYM PARK**
(Charitable Incorporated Organisation)
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **6. INVESTMENTS**
The CIO held no fixed assets investments during this or the previous financial year.
## **7. CASH AT BANK AND IN HAND**
||Unrestricted|Restricted|**Total**|**Total**|
|---|---|---|---|---|
||Fund|Fund|**31-Dec-22**|**31-Dec-21**|
||£|£|**£**|**£**|
|Cash at Bank & in Hand|19,012||-
19,012
99,614||
||**19,012**||**-**
**19,012**
**99,614**||
|**8. DEBTORS AND PREPAYMENTS**|||||
|Sundry Debtors|Unrestricted
Fund
£
-|Restricted
Fund
£|**Total**
**31-Dec-22**
**£**
-|**Total**
**31-Dec-21**
**£**
-
-|
||**-**||**-**|**-**
**-**|
|**9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||||
|Independent Examiners Fees|Unrestricted
Fund
£
765|Restricted
Fund
£|**Total**
**Total**
**31-Dec-22**
**31-Dec-21**
**£**
**£**
-
765
550||
||**765**||**-**
**765**
**550**||
## **10. CREDITORS: AMOUNTS FALLING DUE IN MORE THAN ONE YEAR**
|The Council of the City and County of Swansea|Unrestricted
Restricted
**Total**
**Total**
Fund
Fund
**31-Dec-22**
**31-Dec-21**
£
£
**£**
**£**
19,900
-
19,900
-
**19,900**
**-**
**19,900**
**-**|
|---|---|
During the financial year, the Trustee of the Friends of Coed Gwilym Park agreed to obtain a loan from The Council of the City and County of Swansea to assist with supporting the short term cashflow requirements in completing the New Community Club House in furtherance of the Charitable objects.
The loan liability will be repaid to the Council by equal half yearly payments of one Thousand Pounds (£1,000.00) each on the first day of April and the first day of October in each year, with the first of such payments to be made on the first day of April 2023 and the final to be made on the first day of October 2032 and the loan has been taken at a rate of 0% interest payable per annum.
11
## **FRIENDS OF COED GWILYM PARK**
(Charitable Incorporated Organisation)
## **NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 31ST DECEMBER 2022**
## **12. NET ASSETS BETWEEN FUNDS**
|Fixed Asset Investments
Net Current Assets
Long Term Liabilities|Unrestricted
Restricted
**Total**
**Total**
Fund
Fund
**31-Dec-22**
**31-Dec-21**
£
**£**
**£**
**£**
-
-
-
-
18,247
-
18,247
99,064
19,900
-
19,900
-
**(1,653)**
**-**
**(1,653)**
**99,064**|
|---|---|
## **11. STAFF COSTS AND NUMBERS**
The CIO employed no members of staff during this or the previous financial year.
## **12. TRUSTEES AND OTHER RELATED PARTIES**
No payments were made to trustees or any persons connected with them during this financial period. No material transaction took place between the organisation and a trustee or any person connected with them.
## **13. RISK ASSESSMENT**
The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves stated, combined with the annual review of the controls over key financial systems carried out on an annual basis will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks which they face and confirm that they have established systems to mitigate the significant risks.
## **14. RESERVES POLICY**
The Trustees have considered the level of reserves they wish to retain, appropriate to the CIO's needs. This is based on the CIO's size and the level of financial commitments held. The Trustees aim to ensure the CIO will be able to continue to fulfil its charitable objectives even if there is a temporary shortfall in income or unexpected expenditure. The Trustees will endeavour not to set aside funds unnecessarily.
## **15. PUBLIC BENEFIT**
The CIO acknowledges its requirement to demonstrate clearly that it must have charitable purposes or ‘aims’ that are for the public benefit. Details of how the CIO has achieved this are provided in the Trustees report. The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefit before deciding what activities the CIO should undertake
12
FRIENDS OF COED GWILYM PARK
Icharitsble In¢(wated Organisationl
INDEPENDENT EXAMINER'S REPORT ON THE ACCOUNTS
Report to the I518e51 meml)ws of Fyiends ol Coed Park on the acc¢ fry the y8ar ended 31s1 Dec8mb&r 2022
881 out on pageG e to 12.
R•$po¢¥• rn•poMlbllltI ol tr¢* and •x•ml
The chanty's trustees are r8sponsiblg for the pparthn ofth¢ ac£(xJnts The tharty's trustge8 con8Kler Ihat an audit 1$ not
quired for this year under sectson 144 01 the Chaiitgs AL# 2011 (the Charts5 Acll and Ihat an indepenthnt •X8min8tion s
nèèdèd.
It Is my resptsnsit4.lity to..
examine aeeounts under section 145 ofthe chare8 Act.
to follow the procedu8 la¥J in th8 ger*rnl Dire¢th)s gpthi by the Chanty Commls*on luThJor
1451Sllbl ol th• Chsrithes Act. 8nd
to slat• *I1h¢r par119T malters hov• c¢mg to my thnbon
8a•l• ol Ind•pondont •x•mlMrf• •tst•m•t)t
Kfy 8xaminalion was carried ¢xrt in accordare th 98wal Difeciions gN•n by th¢ Charity Commigsior. An •xarnsnation
indu¢J•s a review ol the •¢counbrrfd records kept ty the chaity ond a compariaon of the xc4untJ prejenled %*ith tho
r•¢ord$. 1¢ also indude8 consk1efation of any Unu•1 rtem8 or diadosures in Ihe accounts. and stsking oxplana¢K)n8 from
th? tru8tee8 c4)rmIng any matters. Th6 PKt•dures undertsken not 011 the eviderce that would bo
r•qulr8d in on •udrf, and consequently no opinw gt¥en as lo J¢¢ounts we8ent a 'trn and foif vitr* and the
r•pon 1$ l¢mrted to th mattor8 out in the slatwr•nl bekn¥.
Ind•wnd•nt •xamln•rf• •tst•m•nt
In conn•ction %*ith rny exarnin8tion. no m8tt•r tsjme my ottentr..
which giv88 mo Tea60nobl• c•u to bel8 Ihat in, any mai•nèl r••F•et. tha requwtm¢nt•".
to keep accounting recofd$ in 8ccNdance 130 ofthe Chariti"e8 Act." and
to prepare aw)unts accord lh¢ •¢c¢unts"ng record8 and comply th the aoxunbng requirem8nt6
of the ChorNk8 A
h#¥9 nol teen met.. or
to which, in my ownvJn. attention t4 drn¥m in wler to wop•r under¥tsnding of Ihe accwnls to be
re8ched.
K. ColJ8ku MAAT
86tle Vth AccL)unting Ltd
New Barn
Mudberry Lane
Bosharn
-hi¢he$ter
est Sussex
P018 8TS
Dat•". 4
y 2023
13