TG Community Enterprises Financial Statements For the year ended 31st December 2023 TG Community Enterprises Contents Page Charity Information Trustees, Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 8-11 TG Community Enterprises Charity Information Trustees of Charity R A Collingridge D C Coote B B E Hodgetts Chair Address TG2 Vauxhall Llanelli SAIS 3BD Charity Number 1191008 CIO registered th 24 August 2020 TG Community Enterprises Trustees, Report st for the year ended 31 December 2023 The trustees present their report for the year ended 31" December 2023. TG Community Enterprises is a Foundation CIO which was registered with the Charity Commission of England and Wales on 24 August 2020 l. Objects The objects for which the charity is established are.. For the public benefit in the community of Llanelli and the surrounding area, the relief of those in need by reason of age, ill-health, disability, financial hardship or social disadvantage by the provision of a range of services delivered with a Christian eth05 and which meet local needs and transform lives. 2. Means of attaining the above objerts In the previous year the charity has addressed its activities to the above objectives by the operation of a weekly "Life Café" The trustees give proper consideration to the Charity Commission s guidance on public benefit when planning activities. 3. Achievements, Performance and Future Plans The operation of the "Life Cafe" was transferred to Ty Gwyn Community Church at the end of 2022 as it relies on a number of people from the church serving as volunteers. Since that date the trustees have been considering other opportunities 4. Reserves Policy Reserves are def ined as unrestricted funds held by the charity. Cash-backed reserves at the period end were £193 which the trustee5 consider to be satisfactory. 5. Financial Review The deficit for the period was £2.490 which was mainly the charging of depreciation on equipment. Funds held at the period end were £193. The results for the period are set out in the Statement of Financial Activities. The Balance Sheet is also presented. 6, Trustees The trustees who served during the year ended 31, December 2023 were.. R A Collingridge D C Coote B B E Hodgetts TG Community Enterprises Trustees, Report st for the year ended 31 December 2023 Approval This report was approved and authorised for issue by the trustees on signed on their behalf.. 2024 and Raymond Collin Trustee TG Community Enterprises Statement of Financial Activities st for the year ended 31 December 2023 Note Dec 2023 Dec 2022 Income Donations and Grants Room Hire 1,256 4,050 Total Income 5,306 Expenditure Charitable Activitie5 2,490 5,563 Total Expenditure 2,490 5,563 Net Movement in Funds 12.4901 12571 Reconcillatlon of Funds Total funds brought forward 2,683 2,940 Total fund5 carried forward 193 2,683 TG Community Enterprises Balance Sheet st as at 31 December 2023 Note 2023 2022 Fixed Assets Tangible Assets 2,429 Current Assets Debtors Cash at Bankand in Hand 540 3.191 3,731 193 193 Creditors: Amounts falling due within one year 13,4771 Net Current Assets 193 254 Net Assets 193 2,683 Capital and Reserves General Funds Total Charlty Funds 193 193 2,683 2,683 The note5 which follow on pages 8 to 11 form part of these financial statements. Approval These accounts were approved and authorised for issue by the trustees on ............. 2024 and signed on their behalf: Raymond Collingridge Trustee TG Community Enterprises Notes to the Financial Statements 5t for the year ended 31 December 2023 l. Charlty Informatlon TG Community Enterprises is a Foundation CIO registered with the Charity Commission in England and Wales, registration number 1191008. Basis of preparation Basis of accounting The financial statements have been prepared in accordance with Accounting and Reporting by Charitie5.' Staternent of Recommended Prartice ISORPI applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard IFR51021 published on th 16 July 2014 - Charities SORP IFRS1021, the Financial Reporting Standard IFRS1021, the Charities Act 2011, and UK Generally Accepted Practice as it applies from I" January 2015. The charitable company con5titute5 a public benefit entity as defined by FRSIO2. The financial statements have been prepared on a going concern basis under the historical cost convention. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied unless otherwise stated. b) Preparation of the accounts on a going concern basis The trustees consider that the charity is a going concern, and hence these accounts have been prepared on a going concern basis. Income recognition policies Items of income are recognised and included in the accounts when all of the following criteria are met.. the charity has entitlement to the funds; any performance conditions attached to the items of income have been met or are fully within the control of the charity; there is suff icient certainty that receipt of the income is considered probable,. and the amount can be measured reliably. d) Expendlture and irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party. it is probable that settlement will be required and the amount of the obligation can be measured reliably. Irrecoverable VAT 15 char8ed a5 a cost against the activity for which the expenditure was incurred. TG Community Enterprises Notes to the Financial Statements st for the year ended 31 December 2023 Governance Costs These would include costs of the preparation and examination of statutory accounts. the cost5 of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters. Tanglble Fixed Assets Individual fixed assets COStin8 £1,000 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight-line basi5 as follows: Kitchen equipment over four years Creditors and provisions Creditors and provisions are recognised at their settlement amount where the charity has present obligation resultin8 from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. 2. Income from Donatlons and Grants Donations and Grants have been received during the period as follows: Dec 2023 Dec 2022 General Donations 1,256 1,256 3. Analysis of Expenditure on Charitable Activities Dec 2023 De¢ 2022 Depreciation Equipment Life Café Expenditure Bank Charges Rent Payable 2,429 1,211 83 1,706 63 2,500 5,563 61 2,490 4. Governance Costs No Governance Costs were paid during the period. TG Community Enterprises Notes to the Financial Statements st for the year ended 31 December 2023 5. Net Income for the period This is stated after charging.. Dec 2023 Dec 2022 Depreciation 2,429 1.211 6. Analysis of Staff Costs and Trustee Remuneration and Expenses No salaries were paid by the charity during the period. No trustee received any remuneration or reimbursement of expenses during the period 7. Taxatlon As a charity, TG Community Enterprises is exempt from tax on income and gains falling within section 505 0* the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objerts. 8. Tangible Fixed Assets Equipment Total Cost At 1st January 2023 Additions At 31st December 2023 4,857 4,857 4,857 4,857 Depreciation At 1st January 2023 Charge At 31st December 2023 2,428 2,429 4,857 2,428 2,429 4,857 Net Book Values At 31st December 2023 At 31st December 2022 2,429 2.429 All assets are held for direct charitable purposes. io TG Community Enterprises Notes to the Financial Statements st for the year ended 31 December 2023 9. Debtors 2023 2022 Room Hire 540 540 10. Credltors: amounts falling due within one year 2023 2022 Other Creditors 2,683 2,683 11. Related Partles There were no transactions with related parties during the period. li