TG Community Enterprises Financial Statements For the year ended st 31 December 2024 TG Community Enterprises Contents Page Charity Information Trustees, Report Statement of Financial Activitie5 Balance Sheet Notes to the Finar)cial Statements Charity Information Trustees of Charity R A Collingridge Chair D C Coote B B E Hodgetts Address TG2 Vauxhall SA15 38D Charity Number 1191008 CIO registered th 24 August 2020 TG Community Enterprises Trustees, Report for the year ended 31st December 2024 The trustees present their report for the year ended 315t December 2024. TG Community Enterprises is a Foundation CIO which was re8lStered 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 surroundinE 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 ethos and which meet local needs and transform lives. Z. Means of attaining the above objects In the previou5 year the charity has addressed its activities to the above objectives by the operation of a weekly 'Life Cafe. 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 f rom the church serving as volunteers. Since that date the trustees have been considering other opportunities 4. Reserves Policy Reserves are defined as unrestricted funds held by the charity. Cash-backed reserves at the period end were £83 which the trustees consider to be Satisfactory. 5. Financial Review The deficit for the period was £110. Funds held at the period end were £83. 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 2024 were.. R A Collingridge D C Coote B B E Hodgetts Approval This report was approved and authorised for issue by the trustees on igned on their behalf.. z.¢-trA...Q.C￿.fy￿o25 Raymond Collingridg Trustee TG Community Enterprises Statement of Financial Activities for the year ended 31" December 2024 Note Dec 2024 Dec 2023 Expenditure Charitable Activities Total Expenditure iio 2,490 2,490 iio Net Movement in Funds Iiioi 12,4901 Reconciliation of Funds Total funds brought forward Total funds carried forward 193 83 2,683 193 Balance Sheet as at 31st December 2024 Note 20Z4 2023 Fixed A55ets Tangible Assets Current Assets Cash at Bank and in Hand Net Current Assets 83 83 193 193 Net Assets 83 193 Capital and Reserves General Funds Total Charity Funds 83 193 83 193 The notes which follow on pages 5 to 7 form part of these financial statements. Approval These accounts were approved and authorised for issue by the trustees on.. th ir behalf: Raymond Collingridge Trustee TG Community Enterprises Notes to the Financial Statements for the year ended 31st December 2024 l. Charlty Information 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 Charities.. Statement of Recommended Practice ISORPI applicable to charities preparing their accounts in accordance with the Financial Reporting Standard IFRS1021 published on 161h July 2014 - Charities SORP IFRS1021, the Financial Reporting Standard IFRS1021, the Charities Act 2011, and UK Generally Accepted Practice as it applies from 1st January 2015. The charitable company constitutes 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 basi5. Income recognition pollcles 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 f ully within the control of the charity; there is sufficient certainty that receipt of the income is considered probable; and the amount can be measured reliably. d} Expenditure and irrecoverable VAT Expenditure is reco8nised 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 is charged as a cost against the activity for which the expenditure was incurred. TG Community Enterprises Notes to the Financial Statements for the year ended 31" December 2024 Governance Costs These would include costs of the preparation and examination of statutory accounts, the costs of trustee meetings and cost of any legal advice to trustees ori governance or coristitutional matters. fl Tanglble Flxed Assets Individual fixed assets costing £1,000 or more are capitalised at C05t and are depreciated over their estimated useful economic lives on a straight-line basis as follows.. Kitchen equipment over four years Creditors and provisions Creditors and provisions are recognised at their settlement amount where the charity has a present obligation resulting 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 Donations and Grants No Donations or Grants have been received during the period. 3. Analysis of Expenditure on Charitable Activities Dec 2024 Dec 2023 Depreciation Life Cafe Expenditure Bank Charges 2,429 50 60 iio 61 2,490 4. Governance Costs No Governance Costs were paid during the period. S. Net Income forthe period This is stated after charging.. Dec 2024 Dec 2023 Depreciation 2,429 TG Community Enterprises Notes to the Financial Statements for the year ended 31" December 2024 6. Analysi5 of Staff Costs and Trustee Remuneration and Expenses No salaries were paid by the charity during the period. No trustee received any rernuneration or reimbursement of expense5 during the period 7. Taxation As a charity, TG Community Enterprises is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or $256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 8. Tangible Fixed Assets Equipment Total Cost At 1st January and 31 December 2024 4.857 4,857 Depreciation At 1st January and 31 December 2024 4,857 4,857 Net Book Values At 31st December 2024 At 31st December 2023 All assets are held for direct charitable purpose5. 9. Related Parties There were no transactions with related parties during the period.