OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2024-03-31-accounts

Charity number: 1187482

PONTHAFREN

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

PONTHAFREN

CONTENTS

Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Trustees' report 2 - 7
Independent examiner's report 8 - 9
Statement of financial activities 10
Balance sheet 11
Notes to the financial statements 12 - 28

PONTHAFREN

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024

Trustees Mr James Varty, Interim Chair from 19 January 2024 Mr Peter Bayliss (resigned 27 March 2024) Mr Charles Brotherton Mr Andrew Brown (appointed 24 January 2024) Mr Frank Corfield Mrs Susan Kilgour, Chair to 19 January 2024 (resigned 19 January 2024) Charity registered number 1187482 Principal office Longbridge Street Newtown Powys SY16 2DY Accountants WR Partners Chartered Accountants Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG Bankers Lloyds Bank 12 High Street Newtown Powys SY16 2NX Solicitors Joseph Property Law St. David’s Business Centre New Rd Newtown Powys SY16 1RB Director of Association Jamie Burt

Page 1

PONTHAFREN

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024

The trustees present their report with the financial statements of the charity for the year ended 31 March 2024.

The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Objectives and activities

a. Policies and objectives

Ponthafren was established in 1992 and registered as a charity in 1994. The organization supports individuals experiencing mental health issues, social isolation, and exclusion. It operates two community-based Wellness, Recovery, and Learning Centres in Newtown and Welshpool, along with outreach services throughout Powys.

The charity offers a range of services and activities to support service users, including social and recreational courses, counselling, and one-on-one support. We employ staff who provide in-house assistance or can refer individuals to more specialist support services.

The provision of these various services relies heavily on the support of our volunteers, many of whom are current or former service users. Volunteering fosters a sense of self-worth and plays a crucial role in addressing the mental health challenges faced by our service users.

While the primary aim of the charity is to support those with mental health issues, its objectives are broader: to promote any charitable purpose for the benefit of the people of Newtown, Welshpool, Montgomeryshire, and Powys. Specifically, our goals include:

Ponthafren aims to create venues where individuals with mental health issues can meet socially, access information, receive support, and engage in activities that enhance their confidence and self-esteem. We are also dedicated to breaking down the stigma associated with mental ill health and collaborating closely with other groups in this field.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

Page 2

PONTHAFREN

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Objectives and activities (continued)

b. Strategies for achieving objectives

During 2023/24, Ponthafren has continued to adapt and build to changing environments and responding to an increase in demand for our services. Our overall number of people supported grew during the period with an increased complexity of issues presented. We have continued to respond to the needs of those we are supporting.

Statement of Purpose

The object of Ponthafren is ‘to provide a caring community offering support to those in need and to promote positive mental health and well-being for all’.

Statement of Values

The statement of values provides guidance for everyone who volunteers or works at Ponthafren and those who use our service, as to what we think is important and as to the standards of behaviour and consideration for others we encourage.

Ponthafren’s Strategy

Ponthafren’s statement of strategy now focuses upon the processes of learning and sense-making, upon building an organisation in which diversity is fostered, effective individual and organisational learning become substantial requirements and self-organisation is encouraged as the main method of problem solving. Such a strategy requires a careful balancing of control and innovation.

The Board will be working with the Director to develop strategies aligned with our overall strategic statement to further develop the organisation. This will give us the opportunity to focus and develop specific areas of the organisation, such as The Armoury, our Welshpool centre that is full of potential.

c. Activities undertaken to achieve objectives

Ponthafren expanded on Counselling services increasing the overall number of counselling hours offered alongside the number of student placements offered. This links to our ambition to continue to be a centre of learning. This is alongside our continued one to one support offering, wellbeing calls, courses, monthly activities and daily drop-in facility. We have also sought specific projects that align with our stated aims.

d. Volunteers

Ponthafren provides a wide range of volunteering opportunities whilst acknowledging that volunteers do not replace paid staff. Volunteers are required to complete an application form and provide two references and agree to have a DBS check (if relevant to the role). As an important and valued part of the organisation, volunteers are provided with training and ongoing supervision along with new opportunities to improve their own health and wellbeing, improved education and paid employment opportunities whilst meeting new people and reducing isolation.

Page 3

PONTHAFREN

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Achievements and performance

a. Main achievements of the Charity

During this period, the organisation has continued to strengthen our relationships with statutory and community partners. We successfully tendered to the Powys Teaching Health Board (PTHB) for the provision of a Blended Cognitive Behavioural Therapy (CBT) service, leading a consortium that includes Mid and North Powys Mind and Brecon Mind. This marks the first time the organisation has secured a Powys-wide commissioned tender. We also succeeded in our bid to the Social Value Forum for the Brighter Futures – Informal Volunteering in Powys Project. Our organisation is leading this Powys-wide initiative in collaboration with seven other partners. The project focuses on promoting alternative volunteering opportunities, engaging individuals in their local communities, and addressing unmet community needs.

Operationally, we were successful in our bid to begin the Pilotlight Development Programme, funded by the Garfield Weston Foundation. The board and Director worked with four Pilotlighters, consisting of two charity CEOs and two business leaders, on a six-month program aimed at exploring and enhancing the organisation’s governance, purpose and strategy, leadership, impact, finance, and operations.

Our impact was acknowledged by several local organizations, including being named Charity of the Year by Lowfield Timber Frames.

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

Page 4

PONTHAFREN

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

b. Reserves policy

The resources of Ponthafren are to support its charitable objectives. Therefore, the level of funds needs to be the minimum required to ensure the charity can continue to meet these charitable objectives.

The summary of income and expenditure over the past five years is given in the table below

Statement of Financial Activities

2023-24 2022-23 2021-22 2020-21 2019-20
£'000 £'000 £'000 £'000 £'000
Income 403.4 367.60 525.00 538.50 353.00
Expenditure -438.6 -427.70 -435.20 -407.00 -353.10
Net income/(expenditure) -31.9 -60.10 89.70 131.50 -0.10
Funds brought forward 649.1 709.20 619.40 488.00 488.10
Funds carried forward 613.9 649.10 709.20 619.40 488.00

It was previously noted that it is important for Ponthafren to avoid generating net expenditure as this reduces the Charity's Funds. There are a minimum level of Funds the Charity needs to maintain financial security, see note below.

The summary of the Balance Sheet follows below:

Balance Sheet

Balance Sheet
2023-24 2022-23 2021-22 2020-21 2019-20
£'000 £'000 £'000 £'000 £'000
Fixed Assets 380 383.8 387 308.6 301.4
Cash at Bank 210.7 238.7 323.4 357.1 211
Debtors less Creditors 23.2 26.7 -1.2 -46.3 -24.9
Funds Carried forward 613.9 649.1 709.2 619.4 488

The Funds of Ponthafren are mostly invested in fixed assets: primarily the premises at Newtown and the Armoury in Welshpool. The ownership of these buildings avoids the organisation having to pay rent on equivalent accommodation and, in the case of the building at Welshpool gives Ponthafren significant opportunities for the expansion of services.

The level of cash for the organisation needs to be above the minimum level set by the Trustees. Ideally, the organisation would like to have 'free' cash funds that would enable the continuation of the services for 12 months, without having to cease the service. However, Ponthafren’s resources are not sufficient for this ideal. The Trustees have therefore agreed the Minimum Funds level is £125,000, which would be sufficient to continue all current operations for a 3-month period, during which time the organisation would go through a planned winddown of the its activities, while simultaneously seeking new sources of funding.

The free reserves for the year, which comprise of the unrestricted funds less any unrestricted fixed assets, stood at £233,921 (2023: £265,394). Restricted funds stood at £Nil at year end (2023: £Nil).

Page 5

PONTHAFREN

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

c. Principal funding

As a percentage of the total income in the year, the principal sources of income were as follows:

Powys Teaching Health Board, 55% (2023: 56%).

Structure, governance and management

a. Constitution

The Charity transitioned to a Charitable Incorporated Organisation (CIO) on 1 April 2022. All the assets and liabilities of Ponthafren Association (charity number 1035326) were transferred to the CIO, Ponthafren (charity number 1187482) on that date.

b. Methods of appointment or election of Trustees

The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Constitution.

c. Organisational structure and decision-making policies

Day to day management of Ponthafren is entrusted to a senior management team led by the organisation’s Director, Jamie Burt, in accordance with a formal scheme of delegation.

d. Policies adopted for the induction and training of Trustees

Trustees are elected by the organisation’s members. Individual voting members can apply for membership via the organisation’s website. Rights, duties and responsibilities of the trustees and the issue of induction training are all set out in the memorandum of trustee’s responsibilities and duties.

e. Pay policy for key management personnel

Pay is reviewed annually to take into account changes in the cost of living. The organisation also undertakes periodic reviews of pay in other organisations to ensure that Ponthafren is paying competitive and comparable salaries for comparable roles.

More generally, the organisation is a National Living Wage employer and aspires to pay the Real Living Wage rates.

f. Financial risk management

The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

Page 6

PONTHAFREN

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Plans for future periods

In the forthcoming year (2024-25) Ponthafren plans to

Statement of Trustees' responsibilities

The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees and signed on their behalf by:

Mr James Varty (Interim Chair of Trustees) Date: 29[th] January 2025

Page 7

PONTHAFREN

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024

Independent Examiner's Report to the Trustees of Ponthafren ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2024.

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 2011 Act').

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Page 8

PONTHAFREN

INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024

Independent Examiner's Statement

Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

I have completed my examination. I confirm that no 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 2011 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.

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

Signed:

S J Tweedie

Dated: 30 January 2025 BSc FCA DChA

WR Partners Chartered Accountants Belmont House Shrewsbury Business Park Shrewsbury SY2 6LG

Page 9

PONTHAFREN

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

Note
Income from:
Donations and legacies
3
Charitable activities
4
Investments
5
Total income
Expenditure on:
Charitable activities
6
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2024
£
82,821
196,891
6,203
285,915
321,118
321,118
(35,203)
649,151
(35,203)
613,948		 Restricted
funds
2024
£
73,677
43,759
-
117,436
117,436
117,436
-
-
-
-		 Total
funds
2024
£
156,498
240,650
6,203
403,351
438,554
438,554
(35,203)
649,151
(35,203)
613,948		 Total
funds
2023
£
338,403
28,923
273
367,599
427,663
427,663
(60,064)
709,215
(60,064)
649,151

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 12 to 28 form part of these financial statements.

Page 10

PONTHAFREN

BALANCE SHEET AS AT 31 MARCH 2024

Fixed assets
Note
Tangible assets
11
Current assets
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within one
year
13
Net current assets
Total assets less current liabilities
Total net assets
Charity funds
Restricted funds
14
Unrestricted funds
14
Total funds		 30,424
210,734
241,158
(7,237)		 2024
£
380,027
380,027
233,921
613,948
613,948
-
613,948
613,948		 39,285
238,727
278,012
(12,618)		 2023
£
383,757
383,757
265,394
649,151
649,151
-
649,151
649,151

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Mr James Varty (Interim Chair of Trustees) Date: 29[th] January 2025

The notes on pages 12 to 28 form part of these financial statements.

Page 11

PONTHAFREN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. General information

Ponthafren Association is a Charitable Incorporated Organisation, formed and registered in Wales with a charity number of 1187482. The charity is constituted under a Trust deed.

The Charity transitioned to a Charitable Incorporated Organisation (CIO) on 1 April 2022. All the assets and liabilities of Ponthafren Association (charity number 1035326) were transferred to the CIO on that date.

The registered address and principal place of business of the charity is stated on the reference and administrative details page.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Ponthafren meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Going concern

After making enquires, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. The Charity therefore continues to adopt the going concern basis in preparing its financial statements.

2.3 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

Page 12

PONTHAFREN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2. Accounting policies (continued)

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

2.5 Government grants

Government grants are credited to the Statement of Financial Activities on receipt provided the Charity has entitlement to the income.

2.6 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.7 Tangible fixed assets and depreciation

Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

At each reporting date the Charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 13

PONTHAFREN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2. Accounting policies (continued)

2.7 Tangible fixed assets and depreciation (continued)

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method. The residual value of the property is estimated to be higher than the cost, and therefore no depreciation has been charged.

Depreciation is provided on the following bases:

Freehold property - Nil Improvements to property - Nil Plant and machinery - 25% straight line Fixtures and fittings - 25% straight line Computer equipment - 25% straight line

2.8 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.9 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.10 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

2.11 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.12 Operating leases

Rentals paid under operating leases are charged to the Statement of financial activities on a straightline basis over the lease term.

Page 14

PONTHAFREN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2. Accounting policies (continued)

2.13 Pensions

The Charity contributes to a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

2.14 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

Page 15

PONTHAFREN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

3. Income from donations and legacies

Donations
Grants
Government grants
Total 2024
Total 2023		 Unrestricted
funds
2024
£
18,849
57,477
6,495
82,821
175,806		 Restricted
funds
2024
£
-
73,677
-
73,677
162,597		 Total
funds
2024
£
18,849
131,154
6,495
156,498
338,403		 Total
funds
2023
£
13,415
313,870
11,118
338,403

Government grants received in the year related to CVS grants from Powys County Council.

4. Income from charitable activities

Mental Health & Wellbeing
Other Charitable Activities
Total 2024
Total 2023		 Unrestricted
funds
2024
£
176,262
20,629
196,891
28,923		 Restricted
funds
2024
£
43,759
-
43,759
-		 Total
funds
2024
£
220,021
20,629
240,650
28,923		 Total
funds
2023
£
12,000
16,923
28,923

Page 16

PONTHAFREN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

5. Investment income

Bank interest
Total 2024
Total 2023		 Unrestricted
funds
2024
£
6,203
6,203
273		 Total
funds
2024
£
6,203
6,203
273		 Total
funds
2023
£
273
273

6. Analysis of expenditure on charitable activities

Summary by fund type

Direct costs
Total 2024
Total 2023		 Unrestricted
funds
2024
£
321,118
321,118
195,891		 Restricted
funds
2024
£
117,436
117,436
231,772		 Total
2024
£
438,554
438,554
427,663		 Total
2023
£
427,663
427,663

7. Analysis of expenditure by activities

Direct costs
Total 2024
Total 2023		 Activities
undertaken
directly
2024
£
438,554
438,554
427,663		 Total
funds
2024
£
438,554
438,554
427,663		 Total
funds
2023
£
427,663
427,663

Page 17

PONTHAFREN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

7. Analysis of expenditure by activities (continued)

Analysis of direct costs

Mental
Health &
Wellbeing
2024
£
Staff costs
312,805
Depreciation
3,730
Other staff costs
2,337
Premises costs
19,945
Office costs
15,077
Repairs and renewals
-
Building maintenance
6,717
Insurance
4,970
Subcontractors/trainers
55,728
Counselling
4,385
Volunteer expenses
1,461
Other expenses
1,826
Professional fees
9,573
Project expenses
-
Total 2024
438,554
Total 2023
427,663
8.
Independent examiner's remuneration
Fees payable to the Charity's independent examiner for the independent
examination of the Charity's annual accounts		 Total
funds
2024
£
312,805
3,730
2,337
19,945
15,077
-
6,717
4,970
55,728
4,385
1,461
1,826
9,573
-
438,554
427,663
2024
£
2,620		 Total
funds
2023
£
301,442
3,855
7,507
25,127
19,908
1,892
8,207
482
40,146
-
1,493
1,307
15,913
384
427,663
2023
£
2,500

Page 18

PONTHAFREN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

9. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2024
£
289,007
17,963
5,835
312,805		 2023
£
279,252
16,955
5,235
301,442

There has been one redundancy during the year, with a redundancy payment of £4,804 fully paid during the year.

The average number of persons employed by the Charity during the year was as follows:

2024 2023
No. No.
Employees 13 15

No employee received remuneration amounting to more than £60,000 in either year.

The total remuneration received by key management was £51,538 (2023: £48,097). The Director of the Association is considered to be key management personnel.

10. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2023 - £NIL) .

During the year ended 31 March 2024, expenses totalling £ 344 were reimbursed or paid directly to 3 Trustees (2023 - £597 to 2 Trustees) . Expenses relate to travel expenses and refreshments.

Page 19

PONTHAFREN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

11. Tangible fixed assets

Cost or valuation
At 1 April 2023
At 31 March 2024
Depreciation
At 1 April 2023
Charge for the year
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023		 Freehold
property
£
297,000
297,000
-
-
-
297,000
297,000		 Property
improvements
£
81,940
81,940
-
-
-
81,940
81,940		 Plant and
machinery
£
1,505
1,505
1,505
-
1,505
-
-		 Fixtures
and fittings
£
34,947
34,947
31,848
2,715
34,563
384
3,099		 Computer
equipment
£
15,460
15,460
13,742
1,015
14,757
703
1,718		 Total
£
430,852
430,852
47,095
3,730
50,825
380,027
383,757

The Trustees have considered the use of the premises and any potential improvements to enhance their suitability in the future. The trustees will keep the value under review to ensure the premises appropriately reflects the worth to the Association.

Page 20

PONTHAFREN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

12. Debtors

Due within one year
Trade debtors
Prepayments and accrued income
Grants receivable		 2024
£
7,801
10,397
12,226
30,424		 2023
£
16,787
-
22,498
39,285

13. Creditors: Amounts falling due within one year

Trade creditors
Accruals
Deferred income at 1 April 2023
Resources deferred during the year
Amounts released from previous periods		 2024
£
904
6,333
7,237
2024
£
7,129
3,333
(7,129)
3,333		 2023
£
999
11,619
12,618
2023
£
23,188
7,129
(23,188)
7,129

Deferred income relates to funds provided by the Welsh Rugby Union to employ the Hub Officer after the financial year end.

Page 21

PONTHAFREN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

14. Statement of funds

Statement of funds - current year

Unrestricted funds
Designated funds
Premises fund
Minimum fund
General funds
General fund
Tudor Trust
Charles Frederick Green Trust
Garfield Weston
Total Unrestricted funds		 Balance at 1
April 2023
£
378,940
125,000
503,940
145,211
-
-
-
145,211
649,151		 Income
£
-
-
-
227,950
35,000
16,465
6,500
285,915
285,915		 Balance at
31 March
Expenditure
£
2024
£
-
378,940
-
125,000
-
503,940
(263,153)
110,008
(35,000)
-
(16,465)
-
(6,500)
-
(321,118)
110,008
(321,118)
613,948

Page 22

PONTHAFREN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

14. Statement of funds (continued)

Restricted funds
Powys Teaching Health Board
Welshpool Rugby Club
Welsh Rugby Union
Powys Teaching Health Board - Sanctuary
PAVO
Powys Teaching Health Board - Silver Cloud
PAVO - Social Value Reform
NGS
Groundwork UK
The National Lottery - Inclusion Project
Open Newtown/Enraw
Total of funds		 Balance at 1
April 2023
£
-
-
-
-
-
-
-
-
-
-
-
-
649,151		 Income
£
5,000
2,000
10,000
27,454
5,987
11,305
15,641
2,612
375
34,702
2,360
117,436
403,351		 Balance at
31 March
Expenditure
£
2024
£
(5,000)
-
(2,000)
-
(10,000)
-
(27,454)
-
(5,987)
-
(11,305)
-
(15,641)
-
(2,612)
-
(375)
-
(34,702)
-
(2,360)
-
(117,436)
-
(438,554)
613,948

Page 23

PONTHAFREN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

14. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
Designated funds
Premises fund
Minimum fund
Development fund
Tudor Trust
General funds
General Funds - all funds
Total Unrestricted funds		 Balance at
1 April 2022
£
321,943
100,000
22,815
10,265
455,023
185,017
640,040		 Income
£
-
-
-
-
-
205,002
205,002		 Expenditure
£
-
-
(22,815)
(10,265)
(33,080)
(162,811)
(195,891)		 Transfers
in/out
£
56,997
25,000
-
-
81,997
(81,997)
-		 Balance at
31 March
2023
£
378,940
125,000
-
-
503,940
145,211
649,151

Page 24

PONTHAFREN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

14. Statement of funds (continued)

Restricted funds
Powys Teaching Health Board
Hiltop Honey
Welshpool Rugby Club
Welsh Rugby Union
Powys Teaching Health Board -
Sanctuary
Powys County Council/Sport
Powys
Morrisons Foundation
PAVO
Awards 4 All - Ponthafren Skills
for Wellbeing
National Community - Lottery
Fund
Powys Teaching Health Board -
Silver Cloud
Lottery Unlocked
Newtown Town Council
The National Lottery - Inclusion
Project
Open Newtown/Enraw
Grants for Counselling
Total of funds		 Balance at
1 April 2022
£
1,264
-
-
-
-
-
5,838
-
3,613
12,647
38,938
4,875
-
-
-
2,000
69,175
709,215		 Income
£
5,000
2,500
2,000
5,000
18,319
10,000
-
5,987
-
-
80,906
-
1,000
17,772
14,113
-
162,597
367,599		 Expenditure
£
(6,264)
(2,500)
(2,000)
(5,000)
(18,319)
(10,000)
(5,838)
(5,987)
(3,613)
(12,647)
(119,844)
(4,875)
(1,000)
(17,772)
(14,113)
(2,000)
(231,772)
(427,663)		 Transfers
Balance at
31 March
in/out
£
2023
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
649,151

15. Trustees note on funds

Unrestricted Funds

This is the accumulation of surpluses that is not earmarked for any specific purpose. This can be regarded as the contingency fund of the CIO. It also includes grants and donations received that have no restrictions on how they are spent.

Page 25

PONTHAFREN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

Designated Funds

Premises Fund

This represents the CIO's investment in the freehold property, including any improvements made to the property.

Minimum Fund

This represents the funds required to continue the CIO's activities if all funding ceased. The funds would enable the continuation of the services for a 3 month period, during which time other sources of income would be sought while at the same time planning the ‘wind-down’ of the CIO's activities.

Restricted Funds

Powys Teaching Health Board – The provision of counselling services to the people of Montgomeryshire.

Welshpool Rugby Club – Employment of Rugby and Wellbeing Officer. Enabling Welsh rugby to thrive and develop individuals through rugby union delivery within the establishment and local community.

Welsh Rugby Union – Employment of Rugby and Wellbeing Officer. Enabling Welsh rugby to thrive and develop individuals through rugby union delivery within the establishment and local community.

Powys Teaching Health Board – Provision of a pilot Twilight/Sanctuary Mental Health Service based in North Powys. The service will operate out of hours to support people who are distressed and unless they have access to a support service their needs might escalate to an extent that requires crisis intervention, hospital admission or present to A&E or other emergency services.

Powys Teaching Health Board - Silver Cloud - Fund for delivering a blended CBT service for the county of Powys.

PAVO - Social Value Forum - Recruitment, support and project lead on Informal volunteering across Powys.

The National Lottery - Inclusion Project – Fund to enable additional inclusion and participation by those who feel socially excluded in their local community and establish and maintain social connections.

Open Newtown/Enraw – Funds for building resilient businesses project – advising on employee wellbeing and supporting businesses to manage their resources efficiently.

Groundwork UK - Funds to support the provision of counselling service to the people of Montgomeryshire.

National Garden Scheme - Funds to support and provide tools and equipment for our community gardens in Newtown and Welshpool.

Page 26

PONTHAFREN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

16. Analysis of net assets between funds

Analysis of net assets between funds - current period

Tangible fixed assets
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2024
£
380,027
241,158
(7,237)
613,948		 Total
funds
2024
£
380,027
241,158
(7,237)
613,948

Analysis of net assets between funds - prior period

Tangible fixed assets
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2023
£
383,757
278,012
(12,618)
649,151		 Total
funds
2023
£
383,757
278,012
(12,618)
649,151

17. Pension commitments

The pension cost charge represents contributions payable by the company to employees pension funds and amounted to £5,835 (2023: £5,235), these were fully paid with no contributions outstanding at the balance sheet date.

18. Operating lease commitments

At 31 March 2024 the Charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years		 2024
£
1,714
5,568
7,282		 2023
£
-
-
-

Page 27

PONTHAFREN

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

19. Related party transactions

During the year, the charity made purchases of £2,571 (2023: £2,064) for financial and book keeping guidance and support from Peter Bayliss, a trustee with an MSc degree in financial management. The balance due to him at 31 March 24 was £Nil (2023: £654). This is permissable under the CIO's constitution and was agreed by the Board of Trustees.

Page 28