REGISTERED CHARITY NUMBER: 512032
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
FOR
NARBERTH & DISTRICT COMMUNITY & SPORTS
ASSOCIATION
Llewelyn Davies
Chartered Accountants
Yelverton House
St John Street
Whitland
Carmarthenshire
SA34 0AW
NARBERTH & DISTRICT COMMUNITY & SPORTS
ASSOCIATION
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
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Report of the Trustees |
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Independent Examiner's Report |
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7 |
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Statement of Financial Activities |
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8 |
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Balance Sheet |
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Notes to the Financial Statements |
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Detailed Statement of Financial Activities |
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NARBERTH & DISTRICT COMMUNITY & SPORTS
ASSOCIATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyear ended
31March2025.ThetrusteeshaveadoptedtheprovisionsofAccountingandReportingby Charities:
StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordance with
theFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS102)(effective 1
January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
TheNarberthandDistrictCommunityandSportsAssociation,throughitsmanagementcommittees, in
accordancewiththeaimsandobjectivesoutlinedinitsConstitution,havecontinuedtoensurethata wide
varietyofcoursesandactivitieshavetakenplaceattheCentreduringthepastyear.The programme
planningwhichtakesplacefromAprilonwards,isdevelopedusingfeedbackfromprevious year's
students,theBloomfieldquestionnaireresponses,anddirectrequests,sothatweareabletoensure that
theusersofthiscentreareofferedavariedanduptodateprogrammeofeducation,recreation and
leisure activities.
-1-
NARBERTH & DISTRICT COMMUNITY & SPORTS
ASSOCIATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
ACHIEVEMENTS AND PERFORMANCE
TheRecreationHallbookingsincreasedin2024/25withNAFCjuniorteamsusingthefacilities for
numerouseveningslots.NRFCjuniorsandNRFCWalkingRugbyalsobookedslotsand basketball
returnedonWednesdays.NarberthNinjasNetball,theBadmintonClubandtheTableTennisCluball ran
successfullythroughthesummerandwinter.Highernumbersattendedtheover50'sexercise class,
Marie'sHIITsessionsandtheearlymorningweighttrainingclasseswithMeganHicks.AnewPickle Ball
club,ZumbaandBethHowesPilatesallprovedpopular.TheuseoftheFitnessSuiteincreased -
especiallybyjunior,monthlyandyearlymembers-althoughinvestmentwillbeneededinthe future.
NDCSA'sMembershipcosttocoveruseofthesportsfacilitieshasnotincreasedforseveralyears. The
trustees proposed a future increase, to be agreed at a later date.
Intermsofgeneralroombookings,businessuserscontinuedtousethefacilities, including
PembrokeshireCountyCouncil,LandskerChildcare,CymruCareTrainingandHywelDda.Narberth U3A
offeredseveralcoursesandactivitiesfortheirmembers.Bloomin'Stitchers,LandskerQuilters, other
patchwork&quiltinggroupstogetherwiththelocalbranchoftheWeavers,Spinners&DyersGuild, all
continued to meet regularly.
WestWalesWalkingforWellBeinggroupcontinuedtogrow,withuptothirty-threewalkers and
volunteerleaderstakingpartintheweeklyWednesdaywalks.Newbookingsystemshavebeen trialled
andaWhatsappgroup.RepresentativesofPACTOattendedthe100thwalkandwereassessing the
benefitthatpeoplearegettingfromCommunityTransportacrossPembrokeshire.NDCSAwere fortunate
to have two buses available for this group.
NDCSAtookdeliveryofanadditionalminibusprovidedbyPACTO,withaservicelevelagreement to
include first year's insurance cover. Additional permits were sought for the new vehicle.
ArangeofLearningPembrokeshireclassestookplaceatBloomfieldincludingtwoSpanishclasses, four
Artclasses,IntroducingCreativeWriting,threePhotographyclassesandoneadvancedItalianclass. Two
additionalItalianclassesalsobeganwithnewtutor,OrsolaMuscia.Inaddition,her'ItalianPronto' short
course, which began in early September, was fully booked.
Eleven30weekcoursesofvaryinglevels(frombeginnersthroughtoadvanced)tookplaceat Bloomfield
duringtheyearwithDysguCymraegSirBenfro.AGwenerSiaradtookplaceinAugustinvolving four
levels,andSadwrnSiarad'stookplaceinSeptember,JanuaryandMarch-alsoatfourlevels.
Examinationrevisionsessionsforthreelevelstookplace,andexaminationswereheldinJune2024 and
January 2025.
Energycostscontinuedtobechallengingduringthisyear.ThetariffwithPCCwasfixeduntil March
2025, when there was a considerable reduction in energy costs.
Unfortunately,in2024theassociationreceivednotificationofPembrokeshireCountyCouncilSocial Care
Departments'intentiontowithdrawfromtheLeeDaviesDayCareCentre,followingafullcouncil meeting
regardingefficiencymeasures/counciltaxincreases.Thiswasfollowedbyaformalnoticeto NDCSA
informingthetrusteesthattheservicewouldceaseonthe31March2025.NDCSA'sDevelopment Worker
requestedarentalvaluation,andinterviewedlocalbusinessestoobtainnewtenantsforthefacility. It
wassubsequentlyproposedthatBloomfieldNurserywouldusethiswingoftheCentretoexpand their
servicesasitisatmaximumcapacity,withatwo-yearwaitinglistforchildplacesandsoisanarea of
potential growth for the Centre.
CylchMeithrinapproachedtheassociationfora'rentfreeze'inMarch2024.Followingthis,a rent
reductionwasofferedusingtheanamountmoneywhichhadbeendonatedtoNDCSAbythelocal WI
group.Duringthisperiod,CylchMeithrinwereindiscussionswithNarberthCPSchooltomoveto their
premises, but had yet to confirm their departure from Bloomfield.
BloomfieldAfterSchoolClubcontinuedtodeclineinusernumbersandincomeduringtheyear. Reasons
citedforthisincludedanalternativeafterschoolclubofferedbyNarberthCPSchool,declining birthrates
andchangestoflexibleworkingpatterns.Thefutureoftheprovisionwasbroughtintoquestionand the
trusteesagreedtoclosethesettingin2025.ParentswerenotifiedinJanuary2025thatthesetting would
close at the end of the academic year.
-2-
NARBERTH & DISTRICT COMMUNITY & SPORTS
ASSOCIATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
OurtrusteeRobLewiscontinuedtoprogressthe125-yearCommunityAssetTransferontherear fields
andcarparkatBloomfield,intheprocessaddressingtheincreasesrequiredtoourliability insurance,
dealing with safety assurances from PCC and reviewing documentation to present to NDCSA's solicitor.
TheoriginalholdingtrusteeslistedonNDCSA'sexistingleasesexpressedadesiretoresign.Inaddition, it
was noted that the association's lease on Bloomfield House will expire in eleven years' time.
TheFinancialOmbudsmanconcludedthat£750begrantedascompensationforinconvenience in
obtainingdualauthorisationassignatoryforNDCSATreasurerduetounacceptablelevelsof customer
service during this time.
Grants & Donations
Section106fundedimprovementsduringthisperiodincludedupdatedCiscoWi-fisystemand new,
automated front doors.
Asumofmonieshadbeenaccolatedfortheprovisionofaprogrammeofyouthworkshopsat Bloomfield
throughout2024.138spaceswerefilledbytwelvetotwenty-four-year-oldsacrossawiderange of
workshops, conducted by eleven local activity providers utilising Bloomfield as a venue.
SportWalesEnergySavingGrant:A£19,622grantwasconfirmedforNDCSAtowardsLED lighting
upgrades,newSeminarRoomboilerandafurther9kwsolarPVarray,sitedontheRecreationHall. The
associationhadtocommittomatchfundingof20%oftheprojectvalueamountingto£4,500. Green
Warmth, NSE and PBK were the proposed contractors.
PCNPASustainableDevelopmentFund:Theassociationreceived£10,642.40forsolarpanels, squash
courtLEDlightupgradeandotherenergyefficiencymeasuresasoutlinedina2023SevernWye Energy
Survey. A further £2,660.60 is due to be paid upon completion of the project.
SCAFFundingfortheperiodJanuarytoMarch2025:£3,495wasawardedbyPAVSforroom hire,
equipmentandstaffcosts.TwelvenewgroupswereintroducedtoBloomfield,includingchair yoga,
meditationandRetroRollers.120hoursofroomhirewereclaimed,andfortyhoursofstaff costs
covered.
SportWalesStormDamageFunding:£5,000towardsdamagecausedbyStormDarraghin December
2024includingtreeremoval,chimneyrepairs,shedrepairsandwallrebuilding.Buildingwork was
completed by Gareth Rees Builders.
TheDragonRifleClubclosedanddonated£250oftheirremainingfundstoNDCSA.NarberthWI also
closed resulting in an additional £2000 donated to NDCSA.
FINANCIAL REVIEW
Investment policy
TherearenorestrictionsontheAssociation'spowertoinvest.TheAssociationdoesnotbenefitfrom an
endowmentfundorholdlargecashreserves.Restrictedfundsareforspecificpurposes,mayonly be
held for a period of time and are applied to specific projects.
Reserves policy
ThereservespolicyoftheTrusteesandGeneralCommitteeistomaintainunrestrictedfundssufficient to
coverfuturemanagementandadministrationcosts,unforeseenfutureexpenditureandnewproject start
up costs. Unrestricted funds are the operational free reserves of the association.
-3-
NARBERTH & DISTRICT COMMUNITY & SPORTS
ASSOCIATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
FUTURE PLANS
AnexpansionofBloomfieldNurseryintotheformerLeeDaviesDayCareCentrewingofBloomfield is
planned in 2025/26. This will result in a large increase in income from the Nursery in the future.
NDCSA'sCentreManagerJaninePerkinshasretired.Asuccessionplanwillbeconsideredinthe coming
months.
NDCSA plan to begin the complicated process of moving towards Charitable Incorporated status.
FollowingpreviousissueswithBarclayBank'scustomerservice,theassociationplantomoveto Unity
Trust Bank in 2025.
TheassociationwereinformedthattheSquashCourtroof,whichisboxprofile,uninsulatedandin poor
conditionwillneedreplacingwithinonetotwoyears.Quotesandfundingtowardsthisprojectwill be
sought by the Development Worker.
AnextensionoftheSection106fundingbecameavailabletoenableaSportsHallheatingupgrade and
further youth workshops to take place in summer 2025.
AnapplicationtotheCranfieldTrustforconsultancyandmanagementsupportwassubmittedin late
spring2025.Thisprocesswillpairtheassociationwithalocalbusinessmentor,andtheassociation was
referred to them by PACTO.
PACTOfundingwillbecameavailableinsummer2025for'DialaRide'serviceproviderstoapply for
funding towards a Community Transport Coordinator to be based at Bloomfield.
FurtherenergyefficiencymeasureatthecentreareplannedinaccordancewiththeSevernWye Energy
audit.AfuturefundingbidtoEnniCymruhasbeenproposedandadvicesoughtfromCwm Arian
Renewable Energy. NDCSA's energy tariff is fixed until 2026.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
Thecharityiscontrolledbyitsgoverningdocument,adeedoftrustandconstitutesan unincorporated
charity.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
512032
Principal address
Bloomfield House
Narberth
Pembrokeshire
SA67 7ES
-4-
NARBERTH & DISTRICT COMMUNITY & SPORTS
ASSOCIATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
Trustees
Lucien Jenkins |
Narberth Quakers/Adult Ballet |
Alice Phillips |
Alice Russell School of Dance |
Steve Haysom |
Narberth Squash Club |
Robert Lewis |
Narberth RFC |
Matthew Johns |
Narberth AFC |
Mike Johns |
Narberth Cricket Club |
Raymond Bowen |
St Andrews Church |
Charles Clewett |
Cor Dyfed Choir and Narberth & Whitland Rotary Club |
Stephen Drinkwater |
Yoga Class |
Charlie Meredydd |
Narberth Town Council |
Glinys Meredydd |
Individual |
Carina Newham |
Individual |
Steve Rigby |
Individual |
Francis Requena |
Individual |
William Silverstone |
Individual |
Claire Dunbar |
Individual - ceased on 10 August 2025 |
Emma Richards |
Individual - ceased on 17 March 2025 |
The following have acted as Holding trustees of the Land:
Mr D Stone Mr K Thomas
Independent Examiner
Mr Colin John FCA FCCA
Llewelyn Davies
Chartered Accountants
Yelverton House
St John Street
Whitland
Carmarthenshire
SA34 0AW
-5-
NARBERTH & DISTRICT COMMUNITY & SPORTS
ASSOCIATION
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
REFERENCE AND ADMINISTRATIVE DETAILS
Bankers
Barclays Bank plc
32 High Street
Haverfordwest
SA61 2DA
Approved by order of the board of trustees on 10 November 2025 and signed on its behalf by:
Mrs G Meredydd - Trustee
-6-
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NARBERTH & DISTRICT COMMUNITY & SPORTS ASSOCIATION
Independent examiner's report to the trustees of Narberth & District Community & Sports Association
IreporttothecharitytrusteesonmyexaminationoftheaccountsofNarberth&DistrictCommunity &
Sports Association (the Trust) for the year ended 31 March 2025.
Responsibilities and basis of report
AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsin accordance
with the requirements of the Charities Act 2011 ('the Act').
IreportinrespectofmyexaminationoftheTrust'saccountscarriedoutunderSection145oftheAct and
incarryingoutmyexaminationIhavefollowedallapplicableDirectionsgivenbytheCharity Commission
under Section 145(5)(b) of the Act.
Independent examiner's statement
Sinceyourcharity'sgrossincomeexceeded£250,000yourexaminermustbeamemberofalisted body.
IcanconfirmthatIamqualifiedtoundertaketheexaminationbecauseIamamemberoftheInstitute of
Chartered Accountants in England and Wales, which is one of the listed bodies.
Ihavecompletedmyexamination.Iconfirmthatnomaterialmattershavecometomyattention 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 Trust as required by Section 130 of the 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.
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationto which
attentionshouldbedrawninthisreportinordertoenableaproperunderstandingoftheaccountsto be
reached.
Mr Colin John FCA FCCA
Llewelyn Davies
Chartered Accountants
Yelverton House
St John Street
Whitland
Carmarthenshire
SA34 0AW
10 November 2025
-7-
NARBERTH & DISTRICT COMMUNITY & SPORTS
ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
Notes
INCOME AND ENDOWMENTS FROM
Donations, legacies and grants
Charitable activities
Nursery
After school club
Minibus
Community centre & sports
Investment income
2
Total
EXPENDITURE ON
Charitable activities
Nursery
After school club
Minibus
Community centre & sports
Total
NET INCOME/(EXPENDITURE)
Other recognised gains/(losses)
Actuarial gains on defined benefit schemes
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD |
Unrestricted
fund
£
13,632
196,407
38,343
27,042
200,242
3,282
478,948
189,523
45,519
18,706
232,120
485,868
(6,920)
34,000
27,080
359,712
386,792 |
Restricted
funds
£
17,865
-
-
-
-
-
17,865
14,572
-
-
20,198
34,770
(16,905)
-
(16,905)
1,168,233
1,151,328 |
2025
Total
funds
£
31,497
196,407
38,343
27,042
200,242
3,282
496,813
204,095
45,519
18,706
252,318
520,638
(23,825)
34,000
10,175
1,527,945
1,538,120 |
2024
Total
funds
£
11,154
158,859
52,897
24,703
194,015
3,274
444,902
143,652
68,978
17,870
251,459
481,959
(37,057)
36,000
(1,057)
1,529,002
1,527,945 |
|
|
|
|
|
The notes form part of these financial statements
-8-
NARBERTH & DISTRICT COMMUNITY & SPORTS
ASSOCIATION
BALANCE SHEET
31 MARCH 2025
Notes
FIXED ASSETS
Tangible assets
6
CURRENT ASSETS
Debtors
7
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
8
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one
year
9
ACCRUALS AND DEFERRED INCOME
10
NET ASSETS
FUNDS
11
Unrestricted funds
Restricted funds
TOTAL FUNDS |
Unrestricted
fund
£
97,131
34,521
87,418
121,939
(17,278)
104,661
201,792
185,000
-
386,792 |
Restricted
funds
£
1,180,956
-
5
5
-
5
1,180,961
-
(29,633)
1,151,328 |
2025
Total
funds
£
1,278,087
34,521
87,423
121,944
(17,278)
104,666
1,382,753
185,000
(29,633)
1,538,120
386,792
1,151,328
1,538,120 |
2024
Total
funds
£
1,263,450
48,546
110,857
159,403
(23,286)
136,117
1,399,567
148,000
(19,622)
1,527,945
359,712
1,168,233
1,527,945 |
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ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
10 November 2025 and were signed on its behalf by:
Mrs G Meredydd - Trustee
The notes form part of these financial statements
-9-
NARBERTH & DISTRICT COMMUNITY & SPORTS
ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingby Charities:
StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsin accordance
withtheFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS 102)
(effective1January2019)',FinancialReportingStandard102'TheFinancialReporting Standard
applicableintheUKandRepublicofIreland'andtheCharitiesAct2011.Thefinancial statements
have been prepared under the historical cost convention.
Income
AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlement to
the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation
committingthecharitytothatexpenditure,itisprobablethatatransferofeconomicbenefits will
berequiredinsettlementandtheamountoftheobligationcanbemeasuredreliably. Expenditure
isaccountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregate all
costrelatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadings they
have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciationisprovidedatthefollowingannualratesinordertowriteoffeachassetover its
estimated useful life.
New recreation hall facility- 4% on cost
Fixtures and fittings- 25% on reducing balance
Computer equipment- Straight line over 3 years
NodepreciationhasbeenchargedinrespectofLeaseholdPropertyonthebasisthatthe estimated
residual value of the property is not materially different to its carrying value in the accounts.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestrictedfundscanbeusedinaccordancewiththecharitableobjectivesatthediscretionof the
trustees.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsof the
charity.Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedfor particular
restricted purposes.
Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.
Hire purchase and leasing commitments
RentalspaidunderoperatingleasesarechargedtotheStatementofFinancialActivitieson a
straight line basis over the period of the lease.
-10-
NARBERTH & DISTRICT COMMUNITY & SPORTS
ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
2. INVESTMENT INCOME
INVESTMENT INCOME |
|
|
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2025 |
2024 |
|
£ |
£ |
Bank interest |
3,282 |
3,274 |
3. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended31March2025nor for
the year ended 31 March 2024.
Trustees' expenses
Therewerenotrustees'expensespaidfortheyearended31March2025norfortheyear ended
31 March 2024.
4. STAFF COSTS
The average monthly number of employees during the year was as follows:
|
2025 |
2024 |
All staff |
23 |
24 |
No employees received emoluments in excess of £60,000.
5.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
INCOME AND ENDOWMENTS FROM
Donations, legacies and grants
Charitable activities
Nursery
After school club
Minibus
Community centre & sports
Investment income
Total
EXPENDITURE ON
Charitable activities
Nursery
After school club
Minibus
Community centre & sports
Total
NET INCOME/(EXPENDITURE)
Other recognised gains/(losses)
Actuarial gains on defined benefit
schemes |
Unrestricted
fund
£
6,354
158,859
52,897
24,703
194,015
3,274
440,102
138,852
68,978
17,870
235,665
461,365
(21,263)
36,000 |
Restricted
funds
£
4,800
-
-
-
-
-
4,800
4,800
-
-
15,794
20,594
(15,794)
- |
Total
funds
£
11,154
158,859
52,897
24,703
194,015
3,274
444,902
143,652
68,978
17,870
251,459
481,959
(37,057)
36,000 |
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-11-
NARBERTH & DISTRICT COMMUNITY & SPORTS
ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025
5.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
Net movement in funds
14,737
RECONCILIATION OF FUNDS
Total funds brought forward
344,975
TOTAL FUNDS CARRIED FORWARD
359,712
6.
TANGIBLE FIXED ASSETS
Leasehold
property
£
COST
At 1 April 2024
665,541
Additions
-
At 31 March 2025
665,541
DEPRECIATION
At 1 April 2024
-
Charge for year
-
At 31 March 2025
-
NET BOOK VALUE
At 31 March 2025
665,541
At 31 March 2024
665,541
Fixtures
and
fittings
£
COST
At 1 April 2024
102,405
Additions
-
At 31 March 2025
102,405
DEPRECIATION
At 1 April 2024
96,270
Charge for year
1,534
At 31 March 2025
97,804
NET BOOK VALUE
At 31 March 2025
4,601
At 31 March 2024
6,135 |
5.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
Net movement in funds
14,737
RECONCILIATION OF FUNDS
Total funds brought forward
344,975
TOTAL FUNDS CARRIED FORWARD
359,712
6.
TANGIBLE FIXED ASSETS
Leasehold
property
£
COST
At 1 April 2024
665,541
Additions
-
At 31 March 2025
665,541
DEPRECIATION
At 1 April 2024
-
Charge for year
-
At 31 March 2025
-
NET BOOK VALUE
At 31 March 2025
665,541
At 31 March 2024
665,541
Fixtures
and
fittings
£
COST
At 1 April 2024
102,405
Additions
-
At 31 March 2025
102,405
DEPRECIATION
At 1 April 2024
96,270
Charge for year
1,534
At 31 March 2025
97,804
NET BOOK VALUE
At 31 March 2025
4,601
At 31 March 2024
6,135 |
- continued
Restricted
funds
£
(15,794)
1,184,027
1,168,233
New
recreation
hall
facility
£
735,888
-
735,888
161,895
14,718
176,613
559,275
573,993
Computer
equipment
£
180
-
180
180
-
180
-
- |
- continued
Restricted
funds
£
(15,794)
1,184,027
1,168,233
New
recreation
hall
facility
£
735,888
-
735,888
161,895
14,718
176,613
559,275
573,993
Computer
equipment
£
180
-
180
180
-
180
-
- |
Total
funds
£
(1,057)
1,529,002
1,527,945
Plant and
machinery
£
23,432
36,692
60,124
5,650
5,804
11,454
48,670
17,782
Totals
£
1,527,446
36,692
1,564,138
263,995
22,056
286,051
1,278,087
1,263,451 |
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-12-
NARBERTH & DISTRICT COMMUNITY & SPORTS
ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Prepayments
8.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
Trade creditors
Social security and other taxes
Net wages
Accruals and income in advance
9.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE
Pension liability
10.
ACCRUALS AND DEFERRED INCOME
Accruals and deferred income
11.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
Restricted funds
Restricted
TOTAL FUNDS |
2025
£
32,084
2,437
34,521
YEAR
2025
£
735
5,935
124
10,484
17,278
THAN ONE YEAR
2025
£
(185,000)
2025
£
29,633
Net
movement
At 1.4.24
in funds
£
£
359,712
27,080
1,168,233
(16,905)
1,527,945
10,175 |
2024
£
46,177
2,369
48,546
2024
£
6,579
5,575
-
11,132
23,286
2024
£
(148,000)
2024
£
19,622
At
31.3.25
£
386,792
1,151,328
1,538,120 |
|
|
|
-13-
NARBERTH & DISTRICT COMMUNITY & SPORTS
ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
11. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
Incoming
Resources
Gains and
resources
expended
losses
£
£
£
Unrestricted funds
General fund
478,948
(485,868)
34,000
Restricted funds
Restricted
17,865
(34,770)
-
TOTAL FUNDS
496,813
(520,638)
34,000
Comparatives for movement in funds
Net
movement
At 1.4.23
in funds
£
£
Unrestricted funds
General fund
344,975
14,737
Restricted funds
Restricted
1,184,027
(15,794)
TOTAL FUNDS
1,529,002
(1,057)
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
Gains and
resources
expended
losses
£
£
£
Unrestricted funds
General fund
440,102
(461,365)
36,000
Restricted funds
Restricted
4,800
(20,594)
-
TOTAL FUNDS
444,902
(481,959)
36,000 |
Movement
in funds
£
27,080
(16,905)
10,175
At
31.3.24
£
359,712
1,168,233
1,527,945
Movement
in funds
£
14,737
(15,794)
(1,057) |
|
|
-14-
NARBERTH & DISTRICT COMMUNITY & SPORTS
ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
11. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
Unrestricted funds
General fund
Restricted funds
Restricted
TOTAL FUNDS |
At 1.4.23
£
344,975
1,184,027
1,529,002 |
Net
movement
in funds
£
41,817
(32,699)
9,118 |
At
31.3.25
£
386,792
1,151,328 |
|
|
|
1,538,120 |
Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,included in
the above are as follows:
Unrestricted funds
General fund
Restricted funds
Restricted
TOTAL FUNDS |
Incoming
Resources
resources
expended
£
£
919,050
(947,233)
22,665
(55,364)
941,715
(1,002,597) |
Gains and
losses
£
70,000
-
70,000 |
Movement
in funds
£
41,817
(32,699)
9,118 |
|
|
|
|
12. EMPLOYEE BENEFIT OBLIGATIONS
TheAssociationoperatesadefinedbenefitpensionscheme,whichisincludedwithinthe Dyfed
CountyCouncilpensionfundadministeredbyCarmarthenshireCountyCouncilonalead authority
basis.Theassetsoftheschemeareheldseparatelyfromthoseofthecharityinan independently
administeredfund.ContributionstotheschemearechargedtotheStatementOf Financial
Activitiessoastospreadthecostofpensionsoveremployees'workingliveswiththe association.
The scheme has been closed to new employees.
Aqualifiedactuaryonthebasisoftriennialvaluationsusingtheprojectedunitmethod determines
thecontributions.Themostrecentvaluationwasat31March2022.Themarketvalueof Fund's
assets at the valuation date were £3.243 million covering 113% of the Fund's liabilities.
Theassumptions,whichhavethemostsignificanteffectontheresultsofthevaluation,are those
relatingtoreturnsoninvestments,therateofsalaryincreasesandtheratesofmortality, ill
health,retirement,withdrawaletc.Itwasassumedthatinvestmentreturnswouldbe5.8%(2024 -
4.9%)perannum,salaryincreaseswouldaverage4.1%(2024-4.2%)andthatratesof mortality,
illhealth,retirementandwithdrawalwouldbeinaccordancewithpreviousDyfedLocal Authority
experience.
-15-
NARBERTH & DISTRICT COMMUNITY & SPORTS
ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2025
12. EMPLOYEE BENEFIT OBLIGATIONS - continued
Thepensioncharge/(credit)fortheyearincludedinwagescostswas(£3,000)(2024- NIL).
Employercontributionswere£NIL(2024-£4,205)andtheprojectedemployercontributions for
the year ending 31 March 2026 are £NIL.
FRS 102 Retirement Benefits
Themostrecentactuarialvaluationsofthedefinedbenefitschemeshavebeenupdatedto take
accountoftherequirementsofFRS102inordertoassesstheliabilitiesoftheschemeat31 March
2025. Scheme assets are stated at their market value at 31 March 2025.
The main assumptions used to calculate scheme liabilities under FRS 102 are:
|
2025 |
2024 |
Inflation rate |
2.6% |
2.7% |
Discount rate for scheme liabilities |
5.8% |
4.9% |
Rate of increase in salaries |
4.1% |
4.2% |
Rate of increase in pensions |
2.7% |
2.8% |
The mortality assumptions used were |
|
|
Longevity at 65 - current pensioners |
|
|
Men |
21.5 Years |
21.5 Years |
Women |
23.9 Years |
23.8 Years |
Longevity at 65 - future pensioners |
|
|
Men |
22.9 Years |
22.9 Years |
Women |
25.7 Years |
25.6 Years |
Reconciliation of market value of scheme assets:
|
2025 |
2024 |
|
£ |
£ |
1 April 2024 |
492,000 |
450,000 |
Interest on plan assets |
24,000 |
21,000 |
Remeasurements (assets) |
(13,000) |
28,000 |
Employer contributions |
- |
4,000 |
Member contributions |
1,000 |
1,000 |
Benefits paid |
(12,000) |
(12,000) |
|
|
|
31 March 2025 |
492,000 |
492,000 |
|
|
|
|
|
|
Actual Return on scheme assets in the year |
12,000 |
49,000 |
|
|
|
The value of assets in the scheme were: |
|
|
|
2025 |
2024 |
|
£ |
£ |
Equities |
358,000 |
358,000 |
Government bonds |
- |
- |
Other bonds |
45,000 |
46,000 |
Property |
51,000 |
61,000 |
Cash |
4,000 |
2,000 |
Other |
34,000 |
25,000 |
|
|
|
|
492,000 |
492,000 |
|
|
|
-16-
NARBERTH & DISTRICT COMMUNITY & SPORTS
ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
12. EMPLOYEE BENEFIT OBLIGATIONS - continued
Reconciliation of present value of scheme liabilities:
|
2025 |
2024 |
|
£ |
£ |
1 April 2024 |
344,000 |
342,000 |
Current service cost |
4,000 |
4,000 |
Interest on pension liabilities |
17,000 |
17,000 |
Past service cost |
- |
- |
Member contributions |
1,000 |
1,000 |
Remeasurement (gains)/losses on liabilities |
(47,000) |
(8,000) |
Benefits paid |
(12,000) |
(12,000) |
|
|
|
31 March 2025 |
307,000 |
344,000 |
|
|
|
Analysis of amount charged in the Statement of Financial Activities
|
2025 |
2024 |
|
£ |
£ |
Current service cost |
4,000 |
4,000 |
Net interest cost |
(7,000) |
(4,000) |
Past service costs |
- |
- |
|
|
|
|
|
|
Total Operating Charge/(Credit) |
(3,000) |
- |
|
|
|
Actuarial Gains and Losses:
ThecumulativeamountofactuarialgainsrecognisedintheStatementofother comprehensive
income is £168,000 (2024 cumulative actuarial gain - £134,000).
|
2025
2024
2023
2022 |
2021 |
2020 |
|
£
£
£
£ |
£ |
£ |
Defined benefit
obligation |
(307,000)
(344,000) (342,000) (498,000) |
(501,000) |
(430,000) |
Plan assets |
492,000
492,000
450,000
468,000 |
442,000 |
357,000 |
|
|
|
|
Surplus / (Deficit) |
185,000
148,000
108,000
(30,000) |
(59,000) |
(73,000) |
|
|
|
|
|
|
|
|
Experience adjustments
on assets |
(13,000)
28,000
(25,000)
22,000 |
86,000 |
(41,000) |
|
|
|
|
Experience
remeasurement of
liabilities |
(47,000)
(8,000)
(166,000)
(12,000) |
65,000 |
8,000 |
|
|
|
|
-17-
NARBERTH & DISTRICT COMMUNITY & SPORTS
ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
12. EMPLOYEE BENEFIT OBLIGATIONS - continued
Total remeasurement |
|
|
|
|
|
|
recognised in statement |
|
|
|
|
|
|
of other comprehensive |
|
|
|
|
|
|
income |
(34,000) |
(36,000) |
(141,000) |
(34,000) |
(21,000) |
33,000 |
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2025.
-18-
NARBERTH & DISTRICT COMMUNITY & SPORTS
ASSOCIATION
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
INCOME AND ENDOWMENTS
Donations, legacies and grants
Donations
Grants
Investment income
Bank interest
Charitable activities
Nursery Income
After school club income
Minibus income
Community centre rents
PCC contributions
Sports facilities fees
Refreshments (net)
Sundry income
Total incoming resources
EXPENDITURE
Charitable activities
Wages
Hire of plant and machinery
Insurance
Light and heat
Telephone
Postage and stationery
Advertising
Sundries
Nursery expenses
After school club expenses
Minibus expenses
Bad debt write off
Staff training
Subscriptions
Cleaning wages & costs
Rent
Water rates
Repairs & maintenance
Depreciation of tangible fixed assets |
2025
£
9,156
22,341
31,497
3,282
196,407
38,343
27,042
44,318
71,280
83,811
701
132
462,034
496,813
109,741
90
6,635
36,044
1,193
193
488
3,032
204,095
45,519
18,706
1,000
43
793
29,210
525
2,751
34,187
22,055
516,300 |
2024
£
5,469
5,685 |
|
|
11,154
3,274
158,859
52,897
24,703
42,925
69,280
79,255
2,284
271 |
|
|
430,474 |
|
|
444,902
114,633
513
5,459
40,143
2,569
137
289
522
143,652
68,978
17,870
338
58
479
15,089
525
2,517
43,223
19,105 |
|
|
476,099 |
Support costs
This page does not form part of the statutory financial statements
-19-
NARBERTH & DISTRICT COMMUNITY & SPORTS
ASSOCIATION
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
Support costs
Finance
Bank charges
Governance costs
Accountancy fees
Acc'y under/over provision
Trustee insurance
Total resources expended
Net expenditure |
2025
£
676
4,604
(1,276)
334
3,662
520,638
(23,825) |
2024
£
1,205
4,351
-
304
4,655
481,959
(37,057) |
|
|
|
This page does not form part of the statutory financial statements
-20-