Trustees’ Annual Report for the period
| From | Period start date | To | Period end date |
|---|---|---|---|
| 1 May 2020 | 30 April 2021 |
Charity name: The Plasdŵr Community Fund
Charity registration number: 1185787
| A.Objectives and Activities | |
|---|---|
| Summary of the purposes of the charity as set out in its governing document SORP Para 1.17 |
The objects of the CIO are to benefit the residents of the Plasdŵr community and surrounding areas by assisting residents, local authorities and other organisations in efforts to: (a) provide social and sporting facilities for recreation and leisure time; (b) promote community participation in healthy recreation activities; and (c) promote the conservation, protection and improvement of the physical and natural environment. |
| Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts. SORP Para 1.17, 1.19 |
Main activities undertaken by the Charity The Charity is in the early stages of its development and did not make any grants during its second financial period. Once operational the Charity will make grants and provide support to individuals, local councils and other local organisations to help fund and support sporting facilities and activities and recreation spaces, open spaces and recreation and community activities. Any residents of the Plasdŵr community, as well as residents of adjoining areas, may benefit. The aim of the Charity is to ensure that this significant new housing development becomes a thriving community. |
| Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit SORP Para 1.18 |
Statutory declaration The Trustees have complied with their legal duty under the Charities Act to have regard to the public benefit guidance published by the Charity Commission. |
| Additional information (optional) You may choose to include further statements where relevant about: |
Additional information (optional) You may choose to include further statements where relevant about: |
|---|---|
| Policy on grant making SORP Para 1.38 |
The Trustees have adopted a risk-based policy on grant making. |
| Policy on social investment including program related investment SORP Para 1.38 |
The Trustees have not made any social or programme-related investments. |
| Contribution made by volunteers SORP Para 1.38 |
The Charity was not supported by any volunteers during the period. |
| Other | Not applicable. |
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| B. Achievements and Performance | |
|---|---|
| Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. SORP Para 1.20 |
The Charity was registered on 14 October 2019 and is still in the early stages of its development. The Trustees have continued to work to establish internal processes and develop relationships for the successful operation of the Charity in the community. In its second financial period the Charity received its first charitable donation (£5,600) from a developer following the sale of a parcel of land in June 2020. The Charity received a further donation of £25,000 in April 2021. The Trustees did not make any grants during the period, but plan to do so in the next reporting period now that the Charity has funds with which to operate. The Trustees look forward to the Charity becoming operational and providing details of the Charity’s work and the difference that it has made to the residents of the Plasdŵr community, as well as residents of adjoining areas, in subsequent reports. |
Additional information (optional)
| Additional information (optional) | |
|---|---|
| You may choose to include further statements | where relevant about: |
| Achievements against objectives set SORP Para 1.41 |
Not applicable |
| Performance of fundraising activities against objectives set SORP Para 1.41 |
Not applicable |
| Investment performance against objectives SORP Para 1.41 |
Not applicable |
| Other | Not applicable |
| **C. Financial Review ** | |
|---|---|
| Review of the charity’s financial position at the end of the period SORP Para 1.21 |
At the end of its reporting period the Charity held £30,600 in unrestricted funds, all of which are available for the general purposes of the Charity. The Trustees did not make any payments during the reporting period but intend to do so in the next reporting period. The Trustees have adopted a policy for holding zero reserves and will keep this under review. |
| Statement explaining the policy for holding reserves stating why they are held SORP Para 1.22 |
The Trustees have adopted a zero reserves policy. |
| Amount of reserves held SORP Para 1.22 |
Not applicable |
| Reasons for holding zero reserves |
The Trustees have adopted a “no reserves” policy. The charity is funded by corporate donors and the donations are unrestricted. The |
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| SORP Para 1.22 | Trustees consider that it is not necessary to hold back any unrestricted funds not committed (“the free funds”) as it is very unlikely that there will be any unforeseen drop in income or funding as the donations are made in advance of the charity making its donations. The Charity does not have any expenditure or liabilities where future income is likely to fall short of anticipated costs. The free funds vary from time to time and are dependent on a number of factors including the number of requests for funding received and the size of grants given. The Trustees are careful not to make donations which are not in furtherance of the Charity’s objectives, and as such the level of reserves will fluctuate depending on the number and size of suitable requests received, and whether any monies have been held back, though uncommitted, for specific donations. As at the balance sheet date these funds amounted to £30,600 (2020: £0). |
|---|---|
| Details of fund materially in deficit SORP Para 1.24 |
Not applicable |
| Explanation of any uncertainties about the charity continuing as a going concern SORP Para1.23 |
The Trustees do not have any uncertainties about the Charity continuing as a going concern |
| Additional information (optional) You may choose to include further statements where relevant about: |
Additional information (optional) You may choose to include further statements where relevant about: |
|---|---|
| The charity’s principal sources of funds (including any fundraising) SORP Para 1.47 |
The Charity is funded by corporate donors. Property developers are required to pay £100 per house built in the Plasdŵr development to the Charity. Over the next approximately 20 years up to 7,000 households will form the Plasdŵr development which has been planned as a thriving, sustainable community where people can learn, work, socialise, play and lead healthy and fulfilling lives for generations to come. |
| Investment policy and objectives including any social investment policy adopted SORP Para 1.46 |
Not applicable |
| A description of the principal risks facing the charity SORP Para 1.46 |
The Charity will predominantly operate as a grant-making charity. The Trustees have identified the major risks which the Charity faces and have adopted a risk-based approach to grant making to manage those risks and have taken out suitable insurance cover. The Trustees will continue to consider and review key risks which face the Charity and how these can be managed and mitigated. |
| Other | Not applicable |
| D.Structure, Governance and Management | D.Structure, Governance and Management |
|---|---|
| Description of charity’s trusts: | |
| Type of governing document (trust deed, royal charter) SORP Para 1.25 |
Constitution based on the Charity Commission foundation model |
| How is the charity constituted? (e.g unincorporated association, CIO) SORP Para 1.25 |
Charitable incorporated organisation |
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| Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees SORP Para 1.25 |
Methods of appointing new charity trustees Apart from the first charity trustees, new trustees must be appointed by a resolution of an external appointing body comprised of representatives of the landowners. The Charity’s appointing body is defined in its Constitution as the trustees for the time being of the St. Fagans No.1 Trust, the St. Fagans No.2 Trust and the St. Fagans No.3 Trust. Apart from representatives of the landowners having power to appoint trustees, there is no other link between the Charity and the landowners. The Trustees of the Charity understand their duties and responsibilities as trustees and will maintain the independence of the Charity. In selecting individuals for appointment as appointed charity trustees, the appointing body must have regard to the skills, knowledge and experience needed for the effective administration of the Charity. |
|---|---|
| Additional information (optional) You may choose to include further statements where relevant about: Policies and procedures adopted for the induction and training of trustees SORP Para 1.51 On appointment new trustees are provided with a current copy of the Charity’s constitution as well as the Charity's latest Trustees' Annual Report and statement of accounts. The charity’s organisational structure and any wider network with which the charity works SORP Para 1.51 Governance The Constitution provides for a minimum of three and a maximum of six trustees. The Charity is in the early stages of its development and envisages the following structure once it is operational: a. The Trustees plan to meet quarterly to agree the broad strategies and areas of activity for the Charity, including consideration of grant making, investment, reserves and risk management policies and performance. b. The day to day processing and handling of grant requests and applications will be delegated to a Plasdŵr Project Manager, who will provide a summary of requests received to the Trustees at quarterly trustee meetings where the requests will be reviewed and decisions will be made. Urgent requests for funding may be made by email to the trustees. Relationship with any related parties SORP Para 1.51 See “Methods of appointing new charity trustees” Other Benefits/Remuneration None of the trustees were remunerated for acting as a trustee during the financial period. |
Additional information (optional) You may choose to include further statements where relevant about: Policies and procedures adopted for the induction and training of trustees SORP Para 1.51 On appointment new trustees are provided with a current copy of the Charity’s constitution as well as the Charity's latest Trustees' Annual Report and statement of accounts. The charity’s organisational structure and any wider network with which the charity works SORP Para 1.51 Governance The Constitution provides for a minimum of three and a maximum of six trustees. The Charity is in the early stages of its development and envisages the following structure once it is operational: a. The Trustees plan to meet quarterly to agree the broad strategies and areas of activity for the Charity, including consideration of grant making, investment, reserves and risk management policies and performance. b. The day to day processing and handling of grant requests and applications will be delegated to a Plasdŵr Project Manager, who will provide a summary of requests received to the Trustees at quarterly trustee meetings where the requests will be reviewed and decisions will be made. Urgent requests for funding may be made by email to the trustees. Relationship with any related parties SORP Para 1.51 See “Methods of appointing new charity trustees” Other Benefits/Remuneration None of the trustees were remunerated for acting as a trustee during the financial period. |
Additional information (optional) You may choose to include further statements where relevant about: Policies and procedures adopted for the induction and training of trustees SORP Para 1.51 On appointment new trustees are provided with a current copy of the Charity’s constitution as well as the Charity's latest Trustees' Annual Report and statement of accounts. The charity’s organisational structure and any wider network with which the charity works SORP Para 1.51 Governance The Constitution provides for a minimum of three and a maximum of six trustees. The Charity is in the early stages of its development and envisages the following structure once it is operational: a. The Trustees plan to meet quarterly to agree the broad strategies and areas of activity for the Charity, including consideration of grant making, investment, reserves and risk management policies and performance. b. The day to day processing and handling of grant requests and applications will be delegated to a Plasdŵr Project Manager, who will provide a summary of requests received to the Trustees at quarterly trustee meetings where the requests will be reviewed and decisions will be made. Urgent requests for funding may be made by email to the trustees. Relationship with any related parties SORP Para 1.51 See “Methods of appointing new charity trustees” Other Benefits/Remuneration None of the trustees were remunerated for acting as a trustee during the financial period. |
|---|---|---|
| Policies and procedures adopted for the induction and training of trustees _SORP Para 1.51 _ |
On appointment new trustees are provided with a current copy of the Charity’s constitution as well as the Charity's latest Trustees' Annual Report and statement of accounts. |
|
| The charity’s organisational structure and any wider network with which the charity works SORP Para 1.51 |
Governance The Constitution provides for a minimum of three and a maximum of six trustees. The Charity is in the early stages of its development and envisages the following structure once it is operational: a. The Trustees plan to meet quarterly to agree the broad strategies and areas of activity for the Charity, including consideration of grant making, investment, reserves and risk management policies and performance. b. The day to day processing and handling of grant requests and applications will be delegated to a Plasdŵr Project Manager, who will provide a summary of requests received to the Trustees at quarterly trustee meetings where the requests will be reviewed and decisions will be made. Urgent requests for funding may be made by email to the trustees. |
|
| Relationship with any related parties SORP Para 1.51 |
See “Methods of appointing new charity trustees” | |
| Other | Benefits/Remuneration None of the trustees were remunerated for acting as a trustee during the financial period. |
|
| E. Reference and Administrative details | ||
| Charity name | The Plasdŵr Community Fund | |
| Other name the charity uses | Not applicable |
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| Registered charity number | 1185787 |
|---|---|
| Charity’s principal address | Cooke & Arkwright 7-8 Windsor Place Cardiff CF10 3SX |
| Names of the charity trustees who manage the charity | Names of the charity trustees who manage the charity | Names of the charity trustees who manage the charity | Names of the charity trustees who manage the charity | |
|---|---|---|---|---|
| Trustee name | Office (if any) |
Dates acted if not for whole year |
Name of person (or body) entitled to appoint trustee (if any) |
|
| Simon Richard Owen |
Trustee and Chair |
Not applicable | Not applicable |
| Names of the charity trustees who manage the charity | Names of the charity trustees who manage the charity | Names of the charity trustees who manage the charity | Names of the charity trustees who manage the charity | |
|---|---|---|---|---|
| 1 2 3 |
Trustee name | Office (if any) |
Dates acted if not for whole year |
Name of person (or body) entitled to appoint trustee (if any) |
| Simon Richard Owen |
Trustee and Chair |
Not applicable | Not applicable | |
| Michael Anthony Lawley |
Trustee | Not applicable | Not applicable | |
| Glynne Rowland Davies |
Trustee | Not applicable | Not applicable |
Corporate trustees – names of the directors at the date the report was approved
Director name Not applicable
Name of trustees holding title to property belonging to the charity
Trustee name Dates acted if not for whole year Not applicable
Funds held as custodian trustees on behalf of others
Description of the assets held Not applicable in this capacity Name and objects of the charity Not applicable on whose behalf the assets are held and how this falls within the custodian charity’s objects Details of arrangements for Not applicable safe custody and segregation of such assets from the charity’s own assets
Additional information (optional)
Names and addresses of advisers (Optional information)
| Names and addresses of advisers (Optional information) | Names and addresses of advisers (Optional information) | Names and addresses of advisers (Optional information) |
|---|---|---|
| Type of adviser Name Address |
||
| Legal advisor |
Burges Salmon LLP | One Glass Wharf, Bristol BS2 0ZX |
Name of chief executive or names of senior staff members (Optional information)
Not applicable
Exemptions from disclosure
Reason for non-disclosure of key personnel details
Not applicable
Other optional information
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Declarations
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
Signature(s) Full name(s) Simon Richard Owen Position (eg Secretary, Chair, etc)[Trustee and Chair ] Date 23 February 2022
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Charity Name No (if any) The Plasdŵr Community Fund 1185787 Receipts and payments accounts
No (if any) 1185787 CC16a
For the period Period start date Period end date To from 01-May-20 30-Apr-21
Section A Receipts and payments
Unrestricted Restricted funds funds
Endowment funds
Total funds Last year
| Unrestricted funds |
Restricted funds |
Endowment funds |
Total funds | Last year | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| to the nearest £ | to the nearest £ | to the nearest £ | to the nearest £ | to the nearest £ | |||||||||
| A1 | Receipts | ||||||||||||
| 5,600 | - | - | 5,600 | - | |||||||||
| 25,000 | - | - | 25,000 | - | |||||||||
| - | - | - | - | - | |||||||||
| - | - | - | - | - | |||||||||
| - | - | - | - | - | |||||||||
| - | - | - | - | - | |||||||||
| - | - | - | - | - | |||||||||
| - | - | - | - | - | |||||||||
| Sub total(Gross income for AR) |
30,600 | - | - | 30,600 | - |
| Unrestricted funds |
Restricted funds |
Endowment funds |
Total funds | Total funds | Last year | |
|---|---|---|---|---|---|---|
| A1 Receipts | to the nearest £ 5,600 25,000 - - - - - - 30,600 |
to the nearest £ - - - - - - - - - |
to the nearest £ - - - - - - - - - |
to the nearest £ 5,600 25,000 - - - - - - 30,600 |
to the nearest £ | |
| 5,600 | - | - | 5,600 | - | ||
| 25,000 | - | - | 25,000 | - | ||
| - | - | - | - | - | ||
| - | - | - | - | - | ||
| - | - | - | - | - | ||
| - | - | - | - | - | ||
| - | - | - | - | - | ||
| - | - | - | - | - | ||
| Sub total(Gross income for AR) |
30,600 | - | - | 30,600 | - | |
| A2 Asset and investment sales, (see table). |
- - - - - - - - 30,600 |
- - - - - - - - - |
- - - - - - - - - |
- - - 30,600 - - - - - - - - - - - - - - - |
||
| - | - | |||||
| - | - | |||||
| Sub total | - | |||||
| Total receipts A3 Payments |
||||||
| - | ||||||
| Sub total | - | - | ||||
| A4 Asset and investment purchases, (see table) |
||||||
| Sub total | - | - | ||||
| Total payments Net of receipts/(payments) A5 Transfers between funds A6 Cash funds last year end Cash funds this year end |
||||||
| - | ||||||
| - | - | - | - | - | ||
| - | ||||||
| - | ||||||
| 30,600 | - | - | 30,600 | - |
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| Section B Statement of assets and liabilities at the end of the period | Section B Statement of assets and liabilities at the end of the period | Section B Statement of assets and liabilities at the end of the period | |
|---|---|---|---|
| Categories Signed by one or two trustees on behalf of all the trustees B5 Liabilities B3 Investment assets B2 Other monetary assets B4 Assets retained for the charity’s own use B1 Cash funds |
Details Details Details Total cash funds (agree balances with receipts and payments account(s)) Details Details Signature |
Unrestricted funds Restricted funds to nearest £ to nearest £ - - - - - - 30,600 - Unrestricted funds Restricted funds to nearest £ to nearest £ - - - - - - - - - - - - Fund to which asset belongs Cost (optional) - - - - - Fund to which asset belongs Cost (optional) - - - - - - - - - Fund to which liability relates Amount due (optional) - - - - - Print Name Richard Owen,Trustee and Chair |
Endowment funds to nearest £ |
| - | |||
| - | |||
| - | |||
| - | |||
| Endowment funds to nearest £ |
|||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| Current value (optional) |
|||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| Current value (optional) |
|||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| - | |||
| When due (optional) |
|||
| Date of approval |
|||
| Richard Owen,Trustee and Chair | 23/02/2022 | ||
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The Plasdŵr Community Fund Trustees’ Report and Financial Statements Year ended 30 April 2021
Independent examiner’s report to the trustees of The Plasdŵr Community Fund
I report to the trustees on my examination of the accounts of The Plasdŵr Community Fund (the “Charity” ) for the year ended 30 April 2021.
Responsibilities and basis of report
As the trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the “Act” ).
I report in respect of my examination of the Charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Basis of Independent examiner’s report
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 no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
1 accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
-
2 the accounts do not accord with those records; or
-
3 the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed:
Rachel Cadby FCA CTA TEP
Chartered Accountant and Trust Manager Burges Salmon LLP, One Glass Wharf, Bristol BS2 0ZX
Date:
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