## **Slough Glyndwr Trust** ## **Charity Number: 278280** : **Annual Report and Accounts** Start date: 1 April 2020 End date: 31 March 2021 1 |**Contents**|| |---|---| ||Page| |Charity Details|3| |Trustees' Report|4| |Statement of Trustees’ Responsibilities|5| |Receipts and Payments Account|6| |Independent Examiner’s Report|7| 2 **Charity Details** Trustees: Slough Borough Council Clerk to the Trustees legalpractice@harrow.gov.uk Principal office Observatory House Slough SL1 2EL Charity registration number 278280 3 ## **Trustees Report for the Period ended 31st March 2021** ## **Objectives and principal activities during the year** Glyndwr Outdoor Centre is located on Onllwyn Road, Coelbren, to the south of the Brecon Beacons. The Centre was inherited by Slough Borough Council in 1998 when it became a unitary authority. In previous decades, the centre was often used by schools for orienteering, hiking, caving, or other outdoor pursuits but has not been used by the Council since 2007. As the Outdoor Centre was falling into disrepair, the Trustees decided that it should be sold at auction. This auction took place in December 2020, realising sales proceeds of £63,160. ## **Structure, governance and management arrangements** The key governing document is a Trust Deed dated 9 July 1979 which states that the Trust was established _“for the purpose of education recreation and leisure-time activities for boys and girls having need of such facilities … and resident within the boundaries for the time being of the borough of Slough so to develop their physical mental and spiritual capacities that they may grow to full maturity as individuals and members of society and that their conditions of life may be improved”._ Slough Borough Council is the sole Trustee. The Council manages the Trust’s financial affairs and maintains the Trust’s accounting records. ## **Basis of preparation of accounts** Accounts have been prepared on a Receipts and Payments basis as permitted by Charity Commission Guidance (CC15d) for a Trust Fund with gross income of £250,000 or less . Going concern principles have been applied. ## **Financial summary and policy on reserves** Sale of the Outdoor Centre during 2020/21 realised net proceeds of £60,579 after deduction of expenses totalling £2,581. At 31 March 2021 , these monies were being held on the Trust’s behalf by Slough Borough Council together with accrued interest of £372. Trust fund reserves at the year end therefore totalled £60,951. A report will be brought back to the Trustees at a future date to consider the potential future use of these reserves in line with the agreed objectives of the Trust. ## **Public benefit statement** Under the Scheme of Charity Commission, the object of the Trust is, for the public benefit, to provide educational, recreational and leisure-time activities for children currently resident in Slough. The Trustees have paid due regard to the Charity Commission’s guidance on public benefit, as required by Section 4 of the Charities Act 2006, when reviewing the objects and strategy of the Trust. 4 ## **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 and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Trust and of the incoming resources and application of resources of the Trust for that period. In preparing these financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Trust will continue in business. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the Trust and enable them to ensure that the financial statements comply with the Charities Act 1993, as amended by the Charities Act 2006, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the governing document. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. ## **Internal controls and mitigation of major risks** The Trustees have identified and reviewed the major risks of the Trust and have established internal controls to mitigate these risks. The Trustees confirm that the controls implemented are appropriate to the size of the Trust and of the nature of its operations. Signed on behalf of the Trustees ## **Steven Mair** Executive Director of Finance & Commercial (S151) 22 February 2023 5 ## **Financial Statements** ## **Receipts and Payments Account for the Period ended 31 March 202** ||**Income**
Interest on balances
Sale of Glyndwr Outdoor Activity Centre|£
(372)
(63,160)
(63,532)| |---|---|---| |||| ||**Expenditure**
Utilities
Warden
Valuers Fees
Net surplus for year
**Reserves**
At 1 April 2020
Net surplus for year
Reserves at 31 March 2021|£
208
2,022
350
2,581
(60,951)
-
(60,951)
(60,951)| ## **Notes to the financial statements** ## **1. Basis of measurement and preparation** The financial statements have been prepared under the historical cost convention in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008). The financial statements cover the period from 1st April 2020 to the financial year-end of 31 March 2021. As income and expenditure in 2019/20 was below the Charity Commission threshold requirement for the preparation of financial statements, no comparator figures have been provided. ## **2. Fund accounting** Reserves balances at 31 March 2022 comprises general funds which may be used towards meeting the charitable objectives of the Trust at the discretion of the Trustees. Reserves balances are held by Slough Borough Council on behalf of the Glyndwyr Trust. Interest has been paid on reserves balances at 1.22% per annum, pro-rated for the relevant part of the financial year. 6 ## **Independent examiner's report on the accounts of Slough Glyndwr Trust** I report to the Trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 March 2021, as set out on page 6. ## **Responsibilities and basis of report** As the charity trustees of the Trust, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the Trust’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 Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect: - accounting records were not kept in accordance with section 130 of the Act or - the accounts do not accord with the accounting records I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. ## **Signed:** **Date:** 21 February 2023 **Name:** Peter John Linley Worth **Relevant professional qualification(s):** CIPFA, MAAT **Address:** Railway Cottage, Torver, Cumbria LA21 8BA 7