Trustees, Annual Report for the perlod from l January to 31 December 2023 Charlty name: Sully Bowls Foundation Charity registration number: 1184380 Objectives and Activities Exclusively for the public benefit. the purpose of the charity is to promote participation In indoor tiowls and related artTrvities by residents of Sully and the surrounding area. As one of the largest Indoor facllltles for playin8 bowls In Wales, the chartty adopts whatever measures are deemed necessary for the furtherance of the sport, including: Coaching for beginners and experiencedplayers. Provlding facilities for internal lea8ue matches and casual bowls play for people of all ages and ability. Hostlng represenlatlve and frlendly matches with b)wls clubs across Wales. • Provldlng soclal amenltles for members of thecommunlty. Malntalnlng the fabrlc of the bullding 50 that It remains fit for purpose. • Ralslng funds vla grant applications and organlsatlon of fundraising events. By provlding facilities to enable participation In physlcal and soclal actlvitles, thetrustees have shown due re8ard to the Charlty Commlsslon's guldance on publlc benefit. Volunteers play an Inte8ral role In the charityls ablllty to fulfll Its objects. We have a dedlcated team of 15+ volunteers wlth a broad range of collectlve skllls. Includlng admlnlstratlon, coachln& bartendln& cleanlng, cookln& palntlng and decorating and general repalrs and malntenance. Thelr contrlbutlon mlnimlses our costs and helps to keep prices to a minlmum. Achievements and Performance The charlty offers a range of bowls-related, and soclal actlvltles throughout the year whlch local resldents flnd beneftclal In ternis of maintalnlng and Improvln8 thelr physlcal health and mental wellbelng. These activltles are of enormous beneflt to the communlty as we emerge from the past restrlctlons of the Covld pandemic and latterly, the Increasing costs of the ener8y crlsls. The actFvities that the Foundation provlde, ensure a wam), frlendly, comfortable locatlon offerln8 ￿lIef from soclal Isolatlon and physlcal Inactfvlty. Our prevlous three-year energy contract ended on 30th September 2022 and desplte numerous alternative quotes belng sourced by all Trustees, the best and lowest prlted optSon agreed was a two-year. contracted price of nearly fNe times that of our previous contract. Thls equated to the Foundation having to flnd an extra £95,(XK) {mlnSmuml per annum. Based on the previous yearfs fi8ures forlncome and expendlture, a draft 8ud8et forecast was drawn up to cover the two-year. contracted energy perlod. The Trustees determlned that there was no way we could fund the additional £95k+ energy hlke and that we would have to rely on dlpplng into our resep4es. However, the Rlnks carpet wlll need replacing In the next few years lapproxlmately £60k), which is essential to the contlnued exlstence of the Sully Bowls Foundation. So. It was agreed that we would need to raise additional income to top up our reserves and help reduce the amount of money, required every month, from our reserve fund5. The Trustees agreed to Increase the membership fee In Ortober 2022 and Increase the rlnk fees from January 2023. The Trustee5 also agreed to run a campaign for new l)owllng members and also for new Social Members. which proved to be very successful. In addition, the Foundatlon organised various entertainment events every month, Arena advertlslng and enhanced food options including Sunday Lunches. During the year I" January 2023 to 31 December 2023. the budgeted forecast desplte greatly increased income and expenditure figures, showed the 'bottom line, forecast to be very accurate. Whilst we had to rety on the support from our reserves for the period January to August 2023, the int]ux of new and renewable registration fees during September and October 2023 helped top up our reserves in readiness for the coming year. In October 2023, the Trustees sourced quotes for a new energy contract to take effect from October 2024. and after a week of comparative quotes and cost checkin& agreed a contract which would reduce our energy costs by nearly two-third5 from Ottober 2024. The Trustees will continue to implement any and all agreed artions to keep the Sully Bowls Foundation viable. Financial Review Total receipts on unrestrirted funds were £186,834 A total of £12.935 was received In Government grants and donations. £1,222 was received as interest and the remaining £172,677 came from associate member registration fees and rink fees. Total outgoing5 for the period amounted to £ 181,513 The bulk of our expenditure was heatin8 and li8htin8 bills1£86,7811 and rent payments to our landlords, Barry Plastics Sport and Leisure1£19.8711. repairs & renewals1£13.2241. and Payroll services1£33,000}. The remaining smaller items of expenditure related to motor expenses. insurance premiums, professional fees, IT support. cleaning and waste disposal. etc. The net result for the period was an exces5 of receipts over payments of £5.321 Reserves policy Our policy is to maintain a balance on ￿n￿StrIcted funds at least equal to six months nticipated expenditure. which amounts opproximately to £30,IXIO. £2000 is retained to fund ad hoc projects relating to the furtherance of the charit¢s objects. The reserve balance of £ 103,919 is retained towards meeting the cost of repairs and emergency situatlons as and when they occur, and tosupplement anyproposed losses made duringthe summer months. The principal risk 8oin8 forward is again, the poor condition of the stadium roof and surrounding claddin& which has been deteriorating for at least five years. Repairs were due to take place in 2023, but ultimately* a new roof with enhanced Insulatlon is required within the next three years. While responsibility for roof and cladding repairs ￿$t5 with the landlords, incoming rainwater threatens the ongoingcondition of the bowls carpet. which would have to be replaced at significant cost to the charity. Structure, Governance and Management The organisation is a Charitable Incorporated Organisation and was registered as a charlty on Ili( July 2019. The charity is governed under a constitution describing its objects, powers, financial policles, liabilities. duties of trustees, and method of dissolution or winding up. Apart from the first charity trustees. every trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees. In selecting individuals for appointment as charity trustees. the charity trustees must have regard to the skills. knowledge and experience needed for the effective administration of the organisation. Reference and Administrative details Sully Bowls Foundation (working name Sully Indoor Bowls Stadium) is situated on South Road. Sully, in South Wales. The correspondence address and the charivs principal address is: Indoor Bowls Stadium South Road Sully Vale of Glamorgan CF64 5SP Thetrusteesforthisperiod were MrDavid Curtis, mr.john Lock, Mr. Keith Harry and Mr.Trevor Murphy.Their correspondence address is noted above. Financial statement for the period ending 31 December 2023 Declarations The trustees declare that they have approved the trustees, report above. Signed on behalf of the charity's trustees Signature.. Full name.. fs C klQ OJQ-ThS- Position: Trustee CHARITY COMMISSION FOR ENGLAND ANO WALES Sully Bowls Foundatlon 1184380 Recei tsand ments accounts CC16a For the period from To 0110112023 3111212023 Section A Receipts and payments Unrestrl ¢ted funds to the nearest Restricte d funds Endowm ent funds Total funds Last year tothe nèarèst £ tothe nearest £ toth$ nearest £ to the nearest £ A1 Receipts Incornelsales 172,677 172,677 146,941 HMRC JRS l Furlough Sport Council Wales Bank interest 1,222 12,935 1,222 12,935 Grant Income 4,099 Bouneeback Loan Sub total (Gross income for AR) 186,B34 186,834 151.040 A2 Asset and investment sales, (see table}. Sub total aaaz 186.834 186,834 151.040 A3 Payments Rent 19,871 629 19,871 629 20,253 148 Rates Heal & light Motor Expenses l Fuel Workwear l Uniform 86.781 593 86,781 593 900 16.983 2.994 940 900 Postage & Stationery Telephone l BB Repairs & Renewals Insurance 1.109 1.516 13.224 565 1,109 1,516 13,224 565 1,396 1,424 13.141 547 Professional fees Bank charges Cleaning I Waste disposal Sothvare Costs 2,675 4,297 2,675 4,297 1,823 1,968 3.095 70 3,095 70 3,78S 1,300 1,824 Donations Sub5criplions Sundry Payroll servi￿$ Card Machine Costs 5.233 5,233 12,168 HR Costs Admin Costs 33.000 1.522 3,655 28 33,000 1,522 3.6SS 28 Depreciation Equipment Hire Training Costs Loss on Sale of Asset 1,168 363 153 2,750 181.513 2.750 181.513 Sub total 82,378 A4 Asset and inveslment Laptop Petanque Pistes urchases, see table Sub total 181.513 Totalpayments Z] 181.513 82,378 Net of receipts/(paymentsJ S,321 5,321 68.662 A5 Transfer5 between funds A6 Cash funds last year end Cash funds this year end 5.321 5,321 68,662 Section B Statement of assets and liabilities at the end of the period Unrestrl cted funds to noarn•t Restrlctè d funds Endowment funds Categories Details to n•ar¥•t to no8rn8t £ B1 Cash funds Cash al Bank 135.919 Total cash funds 135,919 balanc4J Wi rec•ipts and pwym•n¢s •¢￿u￿1¢$I) Unrestrl cted funds to neare•t Restrlcte d funds Endowment funds to nMr••t to n••r••t £ Details B2 Other monetary assets 22.667 Fund to which asset belongs Cost loptionall Currènt value loptlonall Details B3 Investm•nt assets Fund to whlch Co8t {optlon•l) Currgnt valu• {Op￿1)nAll Details lon B4 A88ets retalned for the charlty's own u Fumltur• and Flthr88 Unrgthde 832 108 FoU[￿tIOn Equlpmanl Unre•lrfcte 3.055 783 Fund to whlch Ihblllty Amount du• lopllon•ll Wh•n du• loptlon•l) Dètalls B6 Llabllltles AccNals 1,JOQ 18,161 10,317 2.357 Cr8drtOT8 Momber8hlp Cards Bank loan8 S*ned by one or tso trustees on behalf of all the trustees Sign ur8 Print Name Date of a roval