||**Trustees' Annual Report**|**Trustees' Annual Report**|**Trustees' Annual Report**|**Trustees' Annual Report**|**Trustees' Annual Report**|**for theperiod**|**for theperiod**|**for theperiod**| |---|---|---|---|---|---|---|---|---| ||**From**|Period start date|||**To**|Period end date||| |||1|4|2022||31|3|2023| ## Section A Reference and administration details **Charity name** Gelligaled Park Community Action Group **Other names charity is known by** **Registered charity number (if any)** 1186020 **Charity's principal address** 65 Penrhys Road, Ystrad, Rhondda Cynon Taff **Postcode CF41 7SW** ## **Names of the charity trustees who manage the charity** ||1
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20|**Trustee name**|**Office (if any)**|**Dates acted if not for whole**
**year**|**Name of person (or body) entitled**
**to appoint trustee (ifany)**| |---|---|---|---|---|---| |||Lyndon Murphy|Chairperson||| |||Mark Evans|Treasurer||| |||William Llewellyn|Trustee||| |||Paul Murphy|Trustee||| ||||||| ||||||| ||||||| ||||||| ||||||| ||||||| ||||||| ||||||| ||||||| ||||||| ||||||| ||||||| ||||||| ||||||| ||||||| ||||||| |||**Names of the trustees for the charity, if any, (for example, any custodian trustees)**|||| |||**Name**||**Dates acted if not for whole year**|| ||||||| ||||||| ||||||| March **2012** **TAR** 1 ## **Names and addresses of advisers (Optional information)** |**Type of adviser**|**Name**
**Address**|**Name**
**Address**| |---|---|---| |||| |||| |||| |||| |**Name of chief executive or names of senior staff members (Optional information)**||| |||| ## **Section B Structure, governance and management** ## **Description of the charity’s trusts** Constitution Type of governing document (eg. trust deed, constitution) Charitable Incorporated Organisation How the charity is constituted (eg. trust, association, company) Discussion with existing trustees Trustee selection methods (eg. appointed by, elected by) ## **Additional governance issues (Optional information)** You **may choose** to include additional information, where relevant, about: - policies and procedures adopted for the induction and training of trustees; - the charity’s organisational structure and any wider network with which the charity works; - relationship with any related parties; - trustees’ consideration of major risks and the system and procedures to manage them. ## **Section C Objectives and activities** **Summary of the objects of the charity set out in its governing document** To promote for the benefit of the inhabitants of Ystrad Rhondda and the surrounding area the provision of facilities for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving the condition of life of the said inhabitants. March **2012** **TAR** 2 To broaden the activities provided to appeal to the wider community, the Gelligaled Park Community Action Group has a four-phase plan: 1. The first phase is to design, build and maintain the MUGA in Gelligaled Park. **Summary of the main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit)** 2. The second phase is to explore making use of the land adjacent to the children’s’ playground. The Action Group received feedback during the original consultation process that the children’s’ playground facilities are insufficient to meet demand. 3. The third phase is to undertake a feasibility study for adapting the area currently held by the disused children’s paddling pool to provide for a further recreational activity. The recommissioning of the children’s paddling pool is not considered feasible following consultation with the local authority’s park management. 4. The fourth phase is to create a ‘Community Shed’ in Gelligaled Park. The purpose of which is to create opportunities for local residents to meet, socialise and engage in a range of activities in Gelligaled Park. ## **Additional details of objectives and activities (Optional information)** You **may choose** to include further statements, where relevant, about: - policy on grantmaking; - policy programme related investment; - contribution made by volunteers. March **2012** **TAR** 3 Section D Achievements and performance **Summary of the main achievements of the charity during the year** The Gelligaled Park Community Action Group has worked closely with officers of Rhondda Cynon Taff and the Action Group made significant strides to construct a multi-use games area in Gelligaled Park. The Action Group also raised funds through private individual donations and grant funding. March **2012** **TAR** 4 ## **Section E Financial review** The charity’s policy on reserves is summarised as follows: **Brief statement of the charity’s policy on reserves** The reserves that we have set aside provide financial stability and the means for the development of our principal activity. We intend to maintain our reserves at a level which is at least equivalent to £3000. The justification for this is to have a readily accessible fund to maintain the multi-use games area if it is vandalised. **Details of any funds materially in deficit** N/A ## **Further financial review details (Optional information)** You **may choose** to include additional information, where relevant about: - the charity’s principal sources of funds (including any fundraising); - how expenditure has supported the key objectives of the charity; - investment policy and objectives including any ethical investment policy adopted. ## **Section F Other optional information** ## **Section G Declaration** **The trustees declare that they have approved the trustees’ report above.** **Signed on behalf of the charity’s trustees** |**Signature(s)**
**Full name(s)**
**Position (eg Secretary, Chair,**
**etc)**
**Date**|L J Murphy|P Murphy| |---|---|---| ||Lyndon John Murphy|Paul Murphy| ||Chair|| ||13/6/24|13/6/24| March **2012** **TAR** 5 Charlty Registration No. 1186020 GELLIGALED PARK COMMUNITY ACTION GROUP ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 GELLIGALED PARK COMMUNITY ACTION GROUP LEGAL AND ADMINISTRATIVE INFORMATION Trustees Dr L Murphy L H Evans E L Dunning Mr G Jones J Cook P Murphy M Evans O Bev8n L Llewellyn C Walker Dr W Ll¢w¢llyn {AppThnted 4 April 20231 (Appointed 4 April 20231 {AppoJnled 4 Apnl 20231 Charlty number 1186020 Independent •xamlnèr Young & Phillips Limited 77 Bute Street Treor¢hy Rhondda CyThJn Taff CF42 6AH GELLIGALED PARK COMMUNITY ACTION GROUP CONTENTS Page Independent examinerfs report Sialemenl of financial acts'v￿es Balance sheet Notes lo the accounls GELLIGALED PARK COMMUNITY ACTION GROUP INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GELLIGALED PARK COMMUNiff ACTION GROUP l report on the accounts of the for thè year ended 31 Mar¢h 2023. which are set Otjl on pages 2 10 8. Respectlve responslbllltles of Trustees and examlner The chanty's Trustees are responsible for the preparation of the accounls. The chanty's Trustees consider that an audit is not required lor this year under sec11¢￿ 144121 of the Chanlies Alt 2011 Ilhe 2011 Aell and that an independent examination is needed. It is my responsibility lo.. examine the accounts under sect￿n 145 of Ihe 2011 Act". lill lo follow the procetlures laid down in the general Directs"ons given by the Charity Commi$$ion under Section 14515llbl of the 2011 Act, and liiil lo slate whether particulaf matters have ccffi8 to my attention. 8a81$ of Indèpendent examinerfs report My examinatlon was carried out in accordance wilh the gengral Oireclws given by the Charity Commission. An examination Includes a review ol the accounting records kept by the chanty and a comparison ol the a￿Ount$ presented with those records 11 also indudes ¢on$i¢Jeration of any unusval Items or di￿10$ureS in the accounts. and seeking explanations from you as trustees con¢eming any such matters The procedures undertaken do not provide all the evidence that would be required in an au¢Jil and consequently no opinion Is given as to whelher the accounts present a 'lrue and fair view. and the report Is limited to those matters set out in the next slalemenl. Independ8nt examln*rf$ $lat*m•nl In connoction with my examination. has come lo my attents.on which gives me reasonabl6 cause to believe that In any material respect the requirements.. lal which gives me reasonable cause to bglwe that in any m*erial respect the r8quir8menls'. lo keep accounting records in accordance bmlh seCt￿n 130 of the 2011 Act., and lil) to prepare accounts which accofd wlh the ac£ounbn9 records, and comply wth the accounting requirements of the 2011 Act.. have not been mel . Ibl No other matter has eome lo my attention in connection wlh my examination to which. in my opinion, attention should be drawn in order to enable a proper undefslanding of the accounts to be re*ched. ed ACCA 77 Bule Street Treorchy Rhon¢Jda Cynon Taff CF42 6AH Dated. 21 May 2024 GELLIGALED PARK COMMUNITY ACTION GROUP STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 UnrestrSct•d RestrS¢ted funds funds rotal 2023 Total 2022 Notes Donations and legaaes Other trading activities 10.498 10.498 682 2.296 1,816 Total Income 682 10.498 11.180 4.112 Raising fvnds Charitable adivilies 328 10,427 10.755 2.431 Total resources expended 328 10.427 10,755 2,431 Net Income for the yearl Net movement in funds 354 71 425 1.681 Fund balances at 1 April 2022 5.131 5,131 3,450 Fund balances at 31 March 2023 5,485 71 5,556 5.131 GELLIGALED PARK COMMUNITY ACTION GROUP BALANCE SHEET ASAT31 MARCH 2023 2023 2022 Notss Flxed assets Tangible assets Current a$$èts Cash al bank and in hand 80.788 5.556 43.669 Credltors.. amounts falllng due vAlhln onts ytrar Net current a$sets 5.556 43,689 Total ass•ts1¢8$ current Ilabllltl•8 86.344 43.669 Credltors: amounts falllng due after more than one y•ar 180.788) {38.5381 Not assets 5.558 5,131 Income funds Restricted funds Unreslrtcled funds 71 5.485 5.131 5.556 5.131 Trust• GELLIGALED PARK COMMUNITY ACTION GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accountlng policies Company informatlon Gelligaled Park Community Acknon Group 1$ a registered charity. 1.1 Accountlng convention These a¢Gounls have been prepared in acCOrdar￿ with FRS 102 -The Financial Reporting Standard applicable in the UK and Republic of Ireland- I-FRS 102.1. "Accounling and Reporting by Charities. the Slalemenl of Recommended Practice for charitses applying FRS 102. the Charitie5 Act 2011 and UK Generally Accepted Accounting Pra¢11￿ as rt aFwlies from 1 January 2015. The is a Public Benefit Enlily as defined by FRS 102. The accounts have departed from the Charities IAccounls and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the St8lement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Praclice which Is referred to in the Regulatson$ but which has since been wthdrawn. The accounts are prepared in sterling. which is Ihe functional ￿rrenCY of the comparsy. Monetary amounts in these finanual stslements are rounded to the neafesl £. The accounts have been prepared on the historical ¢osl convention. modified to include the revaluation of freehold prowrties and lo include investmenl properties and certain finanual insttuments at fair value. The ncipal accounting policies adopted are set out below 1.2 Golng concern Al the lime of approving the accounts. the Tnjslees have a reasonable expe(tstion that the has adequate resources to continue in operational e￿Stence for the foreseeable fulure. Thus the continue to adopt the going concern basis of accounting In preparing the accounts 1.3 Charitable funds Unrestncted funds are available for use at the dis￿li0n of the Trustees in fijrtherance ol their charitable objeth'ves unless the funds have been designated for other purposes. Restricted funds are subje¢t lo spectfic cK)ndrtions by donors as to how they may be used. The purposes and uses of the Testricted funds are set out in the notes to the accounts. Endowment fund5 are subject lo specific corKlitI'ons by donors that the capitsl musl be maintained by the . 1.4 Incomlng resources Income Is recognised when the is legally entitled to ti after any performance conditions have been met. the amounts can be measured rella￿y, and rt is prOba￿e that irwme will be received. C8sh donations are recognised on receipt. Other donations are recognised once the has been notified of the donation, unless performance ¢ondibons requi￿ deferral of the amount. Income tax recoverable in relation to donations received under GiftAd or deeds of covenant is re¢ogn¢sed at the time of the donation. Legaoes are re¢ognr5ed on receipt or otherwise rf the has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known. the legacy is treated as a conts'ngent asset. 1.5 Resources expended Income and expenses are included in the finan031 ststements as they become receivable or due. Expenses include VAT %there applicAbfe as the tharity cannot reclaim rt. GELLIGALED PARK COMMUNITY ACTION GROUP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 A¢¢ounting policies Icontlnuèdl 1.6 Tangible fixed assets Tangible fixed assets are inrtt.ally mèasured at Cost and subsequently measured al cost or valuation, net of depreciation and any impaimient losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the followng bases.. Plant and equipment 10 years straight line The gain or loss arising on the di5P05al of an asset is determined as the difference be￿een the sale proceeds and the carrying value of the asset. and is recognisÈd in nel incL)mellexpendilurel for the year. 1.7 Impairnient of fixed assets Al each reporting end date. the reviews the Carrying amounls of its tangible and intsngib1e assets to determine whether there is any indicalion that those assets have suffered an impairTTient loss. If any such indication exists. the recoverable amount of the asset is estimated in order to deterrnine the exient of the impairment loss lif any. Re¢over8ble amount is the higher of fair value less costs to sell and value in use. In assessing valve in use, the eslimated future cash flows are discounled to their presenl value usin9 a pre-tax discount rate that reflects Current market assessments of the time value of money and the risks specific to the asset for whi¢h the estimates of fvture cash flows have not been adjusted. If the recoverable amount of an asset is estimated lo t* less than rts carrying amount, the carying amoLJnt of the asset is reduced to its recOVera￿e amount. An impairment loss is recognised immediately in incomel (expenditure for the year. unless the rek¥ant asset is carried at a revalued amount. in which case the impairment loss is treated as a revaluation decrease. Recognised impairment losses are reversed if. and only if. the reasons for the impaimient loss have ceased lo apply Vvhere an impair￿ent 105s subsequently reverses. the carying amount of the asset is increased to the revised estimate of its recoverable amount. bul so that the increased carrying amount does not exceed the fjarrying amount that would have been determined had no impairment loss been rewgnised for the asset in prior years. A reversal of an impaimient loss is re¢ognised immediately, unless the relevant asset is carried in 81 a revalued amount. in which ease the reversal of the impaim)ent loss is treated as 8 rev81ualwJn increase. 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at (211 wth banks. other short-lerm liquid investments vAlh original rnaturilies of thfee m￿th$ or les5. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilitses. Basic financial assets 8asic financial assets, which indude trade and other receivables and cash and bank balances. are initially measured at transaction prsce including transaction costs and are subsequently carried at amortised cost using the effective tnterest method unless the arrangement conslitutes a financing transa¢tion. Whe￿ the transaction is measured at the present value of the future receipts discounted at a market rate of interest. GELLIGALED PARK COMMUNITY ACTION GROUP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accountlng pollcl8s Icontlnued Baslc flnanclal Ilabiiiiles 8asi¢ financial liabilities, induding tr￿e and olher payables. are inib.ally iecognised al tiansaction price unless the afrangemenl conslilules a fin8ncing transaction, where the debt instrument Is me8sured al the present value of the future receipts diSC￿n(ed at a markèt rale ol interest. Debt instruments are gjbsequenlly carried at amortised cost, using the effective inlere51 r3le method. Trade payables are obligations lo pay for goods or services that have been acquired in the ordinary course ol operation5 from suppliers. Accounts payable are Classified as cur￿n1 liabilities if payment is due wlhin one year or less 11 not. they a￿ presented 35 non-current liabilrties. Trade payables a￿ recognised Initially at Iransaelion price and subsequently measured at amortised cost usng the effective interest method. Dern¢ognlllon of flnanclal Ilabllftles Financial liabilities are derecognised when the Company's ¢onlractual obligations expire or are discharged or ncelled. Donatlons and l•ga¢l•s 2023 2022 Donations and gifts Grants Less.. deferred inwne 834 40.000 {38.5381 52,748 142,2501 10,498 2,296 For the year ended 31 March 2022 2.296 Other tradlng actlvTrtl•s Unrestrlcted lund$ Total 2022 Fundraising events 682 1.816 For th• yèar ¢nded 31 March 2022 1.816 1.816 GELLIGALED PARK COMMUNITY ACTION GROUP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Charltable actlvities Charltable Expendlturè Total 2022 Depreciation and impairment Insurance Planning and survey fees Tree planting Travel 8,976 328 775 8.976 328 775 469 1.462 500 676 676 10.755 10,755 2.431 10,755 10,755 2.431 Analys￿ by fund Unreslricled funds Restricted fvnd$ 328 10.427 328 10,427 10.755 10,755 For the yeèr •nded 31 March 2022 Unrestricted funds Restricted fvnds 1.462 1,462 2.431 2,431 Tanglbbe flxed assets Pl•nt •nd •qulpm•nt Cost ALldilions 89.764 At 31 March 2023 89.764 D•prnclatlon and Impalmient Deprecialion charged in the year 8.976 Al 31 March 2023 8,976 Carrying amount Al 31 March 2023 80.788 Currènt Assets 2023 2022 Carrylng amount of financlal assets Cash al bank 5,556 43,689 GELLIGALED PARK COMMUNITY ACTION GROUP NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Creditors.. amounts falling due after more than one year 2023 2022 Notes Grants 10 80,788 38,538 10 Grants Deferred income is induded In the financial Statements as follows.. 2023 2022 80.788 38.538 Charlty Registration No. 1186020 GELLIGALED PARK COMMUNITY ACTION GROUP ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 GELLIGALED PARK COMMUNITY ACTION GROUP LEGAL AND ADMINISTRATIVE INFORMATION Trustees Dr L Murphy L H Evans E L Dunning Mr G Jones J Cook P Murphy M Evans O Bev8n L Llewellyn C Walker Dr W Ll¢w¢llyn {AppThnted 4 April 20231 (Appointed 4 April 20231 {AppoJnled 4 Apnl 20231 Charlty number 1186020 Independent •xamlnèr Young & Phillips Limited 77 Bute Street Treor¢hy Rhondda CyThJn Taff CF42 6AH GELLIGALED PARK COMMUNITY ACTION GROUP CONTENTS Page Independent examinerfs report Sialemenl of financial acts'v￿es Balance sheet Notes lo the accounls GELLIGALED PARK COMMUNITY ACTION GROUP INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GELLIGALED PARK COMMUNiff ACTION GROUP l report on the accounts of the for thè year ended 31 Mar¢h 2023. which are set Otjl on pages 2 10 8. Respectlve responslbllltles of Trustees and examlner The chanty's Trustees are responsible for the preparation of the accounls. The chanty's Trustees consider that an audit is not required lor this year under sec11¢￿ 144121 of the Chanlies Alt 2011 Ilhe 2011 Aell and that an independent examination is needed. It is my responsibility lo.. examine the accounts under sect￿n 145 of Ihe 2011 Act". lill lo follow the procetlures laid down in the general Directs"ons given by the Charity Commi$$ion under Section 14515llbl of the 2011 Act, and liiil lo slate whether particulaf matters have ccffi8 to my attention. 8a81$ of Indèpendent examinerfs report My examinatlon was carried out in accordance wilh the gengral Oireclws given by the Charity Commission. An examination Includes a review ol the accounting records kept by the chanty and a comparison ol the a￿Ount$ presented with those records 11 also indudes ¢on$i¢Jeration of any unusval Items or di￿10$ureS in the accounts. and seeking explanations from you as trustees con¢eming any such matters The procedures undertaken do not provide all the evidence that would be required in an au¢Jil and consequently no opinion Is given as to whelher the accounts present a 'lrue and fair view. and the report Is limited to those matters set out in the next slalemenl. Independ8nt examln*rf$ $lat*m•nl In connoction with my examination. has come lo my attents.on which gives me reasonabl6 cause to believe that In any material respect the requirements.. lal which gives me reasonable cause to bglwe that in any m*erial respect the r8quir8menls'. lo keep accounting records in accordance bmlh seCt￿n 130 of the 2011 Act., and lil) to prepare accounts which accofd wlh the ac£ounbn9 records, and comply wth the accounting requirements of the 2011 Act.. have not been mel . Ibl No other matter has eome lo my attention in connection wlh my examination to which. in my opinion, attention should be drawn in order to enable a proper undefslanding of the accounts to be re*ched. ed ACCA 77 Bule Street Treorchy Rhon¢Jda Cynon Taff CF42 6AH Dated. 21 May 2024 GELLIGALED PARK COMMUNITY ACTION GROUP STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 UnrestrSct•d RestrS¢ted funds funds rotal 2023 Total 2022 Notes Donations and legaaes Other trading activities 10.498 10.498 682 2.296 1,816 Total Income 682 10.498 11.180 4.112 Raising fvnds Charitable adivilies 328 10,427 10.755 2.431 Total resources expended 328 10.427 10,755 2,431 Net Income for the yearl Net movement in funds 354 71 425 1.681 Fund balances at 1 April 2022 5.131 5,131 3,450 Fund balances at 31 March 2023 5,485 71 5,556 5.131 GELLIGALED PARK COMMUNITY ACTION GROUP BALANCE SHEET ASAT31 MARCH 2023 2023 2022 Notss Flxed assets Tangible assets Current a$$èts Cash al bank and in hand 80.788 5.556 43.669 Credltors.. amounts falllng due vAlhln onts ytrar Net current a$sets 5.556 43,689 Total ass•ts1¢8$ current Ilabllltl•8 86.344 43.669 Credltors: amounts falllng due after more than one y•ar 180.788) {38.5381 Not assets 5.558 5,131 Income funds Restricted funds Unreslrtcled funds 71 5.485 5.131 5.556 5.131 Trust• GELLIGALED PARK COMMUNITY ACTION GROUP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accountlng policies Company informatlon Gelligaled Park Community Acknon Group 1$ a registered charity. 1.1 Accountlng convention These a¢Gounls have been prepared in acCOrdar￿ with FRS 102 -The Financial Reporting Standard applicable in the UK and Republic of Ireland- I-FRS 102.1. "Accounling and Reporting by Charities. the Slalemenl of Recommended Practice for charitses applying FRS 102. the Charitie5 Act 2011 and UK Generally Accepted Accounting Pra¢11￿ as rt aFwlies from 1 January 2015. The is a Public Benefit Enlily as defined by FRS 102. The accounts have departed from the Charities IAccounls and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the St8lement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Praclice which Is referred to in the Regulatson$ but which has since been wthdrawn. The accounts are prepared in sterling. which is Ihe functional ￿rrenCY of the comparsy. Monetary amounts in these finanual stslements are rounded to the neafesl £. The accounts have been prepared on the historical ¢osl convention. modified to include the revaluation of freehold prowrties and lo include investmenl properties and certain finanual insttuments at fair value. The ncipal accounting policies adopted are set out below 1.2 Golng concern Al the lime of approving the accounts. the Tnjslees have a reasonable expe(tstion that the has adequate resources to continue in operational e￿Stence for the foreseeable fulure. Thus the continue to adopt the going concern basis of accounting In preparing the accounts 1.3 Charitable funds Unrestncted funds are available for use at the dis￿li0n of the Trustees in fijrtherance ol their charitable objeth'ves unless the funds have been designated for other purposes. Restricted funds are subje¢t lo spectfic cK)ndrtions by donors as to how they may be used. The purposes and uses of the Testricted funds are set out in the notes to the accounts. Endowment fund5 are subject lo specific corKlitI'ons by donors that the capitsl musl be maintained by the . 1.4 Incomlng resources Income Is recognised when the is legally entitled to ti after any performance conditions have been met. the amounts can be measured rella￿y, and rt is prOba￿e that irwme will be received. C8sh donations are recognised on receipt. Other donations are recognised once the has been notified of the donation, unless performance ¢ondibons requi￿ deferral of the amount. Income tax recoverable in relation to donations received under GiftAd or deeds of covenant is re¢ogn¢sed at the time of the donation. Legaoes are re¢ognr5ed on receipt or otherwise rf the has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known. the legacy is treated as a conts'ngent asset. 1.5 Resources expended Income and expenses are included in the finan031 ststements as they become receivable or due. Expenses include VAT %there applicAbfe as the tharity cannot reclaim rt. GELLIGALED PARK COMMUNITY ACTION GROUP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 A¢¢ounting policies Icontlnuèdl 1.6 Tangible fixed assets Tangible fixed assets are inrtt.ally mèasured at Cost and subsequently measured al cost or valuation, net of depreciation and any impaimient losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the followng bases.. Plant and equipment 10 years straight line The gain or loss arising on the di5P05al of an asset is determined as the difference be￿een the sale proceeds and the carrying value of the asset. and is recognisÈd in nel incL)mellexpendilurel for the year. 1.7 Impairnient of fixed assets Al each reporting end date. the reviews the Carrying amounls of its tangible and intsngib1e assets to determine whether there is any indicalion that those assets have suffered an impairTTient loss. If any such indication exists. the recoverable amount of the asset is estimated in order to deterrnine the exient of the impairment loss lif any. Re¢over8ble amount is the higher of fair value less costs to sell and value in use. In assessing valve in use, the eslimated future cash flows are discounled to their presenl value usin9 a pre-tax discount rate that reflects Current market assessments of the time value of money and the risks specific to the asset for whi¢h the estimates of fvture cash flows have not been adjusted. If the recoverable amount of an asset is estimated lo t* less than rts carrying amount, the carying amoLJnt of the asset is reduced to its recOVera￿e amount. An impairment loss is recognised immediately in incomel (expenditure for the year. unless the rek¥ant asset is carried at a revalued amount. in which case the impairment loss is treated as a revaluation decrease. Recognised impairment losses are reversed if. and only if. the reasons for the impaimient loss have ceased lo apply Vvhere an impair￿ent 105s subsequently reverses. the carying amount of the asset is increased to the revised estimate of its recoverable amount. bul so that the increased carrying amount does not exceed the fjarrying amount that would have been determined had no impairment loss been rewgnised for the asset in prior years. A reversal of an impaimient loss is re¢ognised immediately, unless the relevant asset is carried in 81 a revalued amount. in which ease the reversal of the impaim)ent loss is treated as 8 rev81ualwJn increase. 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at (211 wth banks. other short-lerm liquid investments vAlh original rnaturilies of thfee m￿th$ or les5. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilitses. Basic financial assets 8asic financial assets, which indude trade and other receivables and cash and bank balances. are initially measured at transaction prsce including transaction costs and are subsequently carried at amortised cost using the effective tnterest method unless the arrangement conslitutes a financing transa¢tion. Whe￿ the transaction is measured at the present value of the future receipts discounted at a market rate of interest. GELLIGALED PARK COMMUNITY ACTION GROUP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accountlng pollcl8s Icontlnued Baslc flnanclal Ilabiiiiles 8asi¢ financial liabilities, induding tr￿e and olher payables. are inib.ally iecognised al tiansaction price unless the afrangemenl conslilules a fin8ncing transaction, where the debt instrument Is me8sured al the present value of the future receipts diSC￿n(ed at a markèt rale ol interest. Debt instruments are gjbsequenlly carried at amortised cost, using the effective inlere51 r3le method. Trade payables are obligations lo pay for goods or services that have been acquired in the ordinary course ol operation5 from suppliers. Accounts payable are Classified as cur￿n1 liabilities if payment is due wlhin one year or less 11 not. they a￿ presented 35 non-current liabilrties. Trade payables a￿ recognised Initially at Iransaelion price and subsequently measured at amortised cost usng the effective interest method. Dern¢ognlllon of flnanclal Ilabllftles Financial liabilities are derecognised when the Company's ¢onlractual obligations expire or are discharged or ncelled. Donatlons and l•ga¢l•s 2023 2022 Donations and gifts Grants Less.. deferred inwne 834 40.000 {38.5381 52,748 142,2501 10,498 2,296 For the year ended 31 March 2022 2.296 Other tradlng actlvTrtl•s Unrestrlcted lund$ Total 2022 Fundraising events 682 1.816 For th• yèar ¢nded 31 March 2022 1.816 1.816 GELLIGALED PARK COMMUNITY ACTION GROUP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Charltable actlvities Charltable Expendlturè Total 2022 Depreciation and impairment Insurance Planning and survey fees Tree planting Travel 8,976 328 775 8.976 328 775 469 1.462 500 676 676 10.755 10,755 2.431 10,755 10,755 2.431 Analys￿ by fund Unreslricled funds Restricted fvnd$ 328 10.427 328 10,427 10.755 10,755 For the yeèr •nded 31 March 2022 Unrestricted funds Restricted fvnds 1.462 1,462 2.431 2,431 Tanglbbe flxed assets Pl•nt •nd •qulpm•nt Cost ALldilions 89.764 At 31 March 2023 89.764 D•prnclatlon and Impalmient Deprecialion charged in the year 8.976 Al 31 March 2023 8,976 Carrying amount Al 31 March 2023 80.788 Currènt Assets 2023 2022 Carrylng amount of financlal assets Cash al bank 5,556 43,689 GELLIGALED PARK COMMUNITY ACTION GROUP NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Creditors.. amounts falling due after more than one year 2023 2022 Notes Grants 10 80,788 38,538 10 Grants Deferred income is induded In the financial Statements as follows.. 2023 2022 80.788 38.538