2023-04-30-accounts

Trustees’ Annual Report for the period

From	Period start date	To	Period end date
	1 May 2022		30 April 2023

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 but nevertheless made grants during this period. The Charity will continue to make grants and provide support to individuals 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 fairly 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. The Trustees have made grants during this period to assist a local comprehensive school with the regeneration of their all-weather sports pitch, and also to support a local community annual festival, in each case as part of its commitment to support local projects and initiatives.

Additional information (optional) You may choose to include further statements	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 £38,072 in unrestricted funds, all of which are available for the general purposes of the Charity.
Statement explaining the policy for holding reserves stating why they are held SORP Para 1.22	The Trustees have adopted a “no reserves” policy.
Amount of reserves held SORP Para 1.22	Not applicable
Reasons for holding zero reserves SORP Para 1.22	The Trustees have adopted a “no reserves” policy. The charity is funded by corporate donors and the donations are unrestricted. The 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

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	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 £38,072 (2022: £47,168).	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 £38,072 (2022: £47,168).
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 Para 1.23	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:
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
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	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.

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Policies and procedures adopted for the induction and training of trustees SORP Para 1.51	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 relatively early stages of its development and envisages the following structure once it is operational and more requests for funding have been received: 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
Registered charity number	1185787

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Charity’s principal address Cooke & Arkwright 7-8 Windsor Place Cardiff CF10 3SX

1 2 3	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 (ifany)
	Simon Richard Owen	Trustee and Chair	Not applicable	Not applicable
	Michael AnthonyLawley	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 in this capacity		Not applicable
Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects		Not applicable
Details of arrangements for safe custody and segregation of such assets from the charity’s own assets		Not applicable

Additional information (optional)

Names and addresses of advisers (Optional information)

Type of adviser	Name	Address
Legal advisor	Burges Salmon LLP	One Glass Wharf, Bristol BS2 0ZX

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 29.2.2024

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	The Plasdŵr Community Fund Charity Name	The Plasdŵr Community Fund Charity Name	The Plasdŵr Community Fund Charity Name	The Plasdŵr Community Fund Charity Name	The Plasdŵr Community Fund Charity Name	1185787 No (if any)	1185787 No (if any)	1185787 No (if any)	CC16a
	For the period from		01-May-21 Period start date		To		30-Apr-22 Period end date
Section A Receipts and payments
A1 Receipts	Unrestricted funds to the nearest £		Restricted funds to the nearest £		Endowment funds to the nearest £		Total funds to the nearest £ - - - - - 8,000 1,000 96 9,096 - - 9,096 (9,096)		Last year to the nearest £
Donation	-		-		-		-		16,600
Sub total	-		-		-		-		16,600
A2 Asset and investment sales
Not applicable	-								-
Sub total	-
Total receipts A3 Payments
									16,600
Grant	8,000								-
Grant	1,000								-
Bank charges	96								32
**Sub total **	9,096								32
A4 Asset and investment purchases
Not applicable	-								-
**Sub total **	-								-
Total payments Net of receipts/(payments) A5 Transfers between funds A6 Cash funds last year end **Cash funds this year end **
									-
	(9,096)		-		-		(9,096)		16,600
	-		-		-		-		-
	47,168		-		-		47,168		-
	38,072		-		-		38,072		16,600

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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 h it ’ B1 Cash funds	Details Not applicable Details Details Total cash funds Not applicable Details Barclays bank account	Details Not applicable Details Details Total cash funds Not applicable Details Barclays bank account	Unrestricted funds to nearest £	Unrestricted funds to nearest £	Restricted funds to nearest £	Restricted funds to nearest £	Endowment funds to nearest £
			38,072		-		-
			38,072		-		-
							Endowment funds to nearest £
							Current value (optional)
							Current value (optional)
	Not applicable
	Details Signature Not applicable		Fund to which liability relates Amount due (optional) Print Name Simon Richard Owen, Trustee and Chair				When due (optional)
							Date of approval
			Simon Richard Owen, Trustee and Chair				29.2.2024

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