MARGAM YOUTH CENTRE
CHARITY NUMBER 515319
TRUSTEES REPORT FOR FINANCIAL YEAR 31[st] JULY 2025.
We appreciate that this Financial Year 2024/25 has seen our organisation sustain itself and been able to carry out essential repairs and ground improvements to the Margam Youth Activities leisure Centre and Dressing room complex we have leased from local authority NPTCBC
The organisation also carried out extra work within the grounds and improve football pitches for all users.
This will show that we made a loss on accounts this year yo total of 12 thousand pounds, that is due to the major work repairs and improvements we have carried out .
We acknowledge and appreciate the hard work and effort put in by all individuals connected with the Youth Centre in making Grant Applications and Contacting many Companies in Business to seek Sponsorship and Grant Donations.
Progress has been rapid within the Margam Youth Centre providing more Leisure and recreation activities for the Community , which has seen a New Inclusion set up for children with learning and physical difficulties to participate in sport.
The organisation has also set up a new youth club evening for children with disabilities.
The Work which has been carried out within the Youth Centre , again a Thank you to all ,as giving up your spare time, can be precious indeed and we as Trustees Appreciate that. Nothing goes un-noticed as we look to improve the Youth Centre Facilities.
.
The Trustee's would like to thank everyone Involved with Margam Youth Centre and the effort put into running the activities within the Youth Centre, without your effort it would be impossible to continue, please keep up the good work for the next financial year.
Mr Graham Bowditch
Mr Paul Slee
Mr George Ridgeway.
Mr Brian Short
Ms Kelly Andrews
1[st] December 2025
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(oN
ia Accountants
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REGISTERED CHARITY NUMBER: 515319
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED) 31 JULY 2025
FOR MARGAM vox CENTRE | | | Watkins radfield & Co., HW Vaughan Boe. and WBVare trading names of WBV Limited, a company registered in Efgiand & Wales No. 07250663 paisa Renicteredent halegae Getapare a Institute ofChartered Accountantsin Engiand and Wales together. ASeea |
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MARGAM YOUTH CENTRE FOR THE YEAR ENDED 31 JULY 2025 CONTENTS OF THERD STATEMENTS
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7
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Report of the Trustees
independent Examiner's Report
Receipts & Payments Account
Statement of Assets and Liabilities
Notes to the Financial Statements
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MARGAM] CENTRE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2025
The trustees present their report with the financial statemefts of the charity for the year ended 31 July 2025. The trustees have adopted the provisions of 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 2015). | REFERENCE AND ADMINISTRATIVE DETAILS | Registered Charity number | 515319 | Principal address 2 Heol y Gwrgan Port Talbot West Glamorgan SA13 2DG Trustees Mr George Ridgeway Mr Graham Bowditch Mr Brian Short Mr Paul Slee Ms Kelly Andrews independent examiner WBV Limited Chartered Accountants Woodfield House | Castle Walk Neath West Glamorgan SA11 3LN | STRUCTURE, GOVERNANCE AND MANAGEMENT | Governing document document The constitution was adopted on adopted on on 27 November 1977 as amended amended 20 December December 1981, 11 April 1983 and 6 May 1984. | Margam Youth Centre was registered with the Charity Commission on 13 July 1984. TheRisk managementtrustees have a duty to identify and review the risk| to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurpnee against fraud and error.
Trustees
Governing document document The constitution was adopted on adopted on on 27 November 1977 as amended amended 20 December December 1981, 11 April 1983 and 6 May 1984.
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MARGAM YO! CENTRE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2025
OBJECTIVES AND ACTIVITIES
Objectives and Aims
Margam Youth Centre is run for the benefit of children within Margam and the surrounding areas. Other organisations use the building; coffee mornings for old age pensioners and bingo evenings. The centre is focused on providing football activities for boys and girls from ages 6 to senior level. The activities provided are to benefit the people living in Margam.
The trustees have considered the facilities available and have| paid due regard to the Charity Commission advice on public benefit when considering the activities undertaken.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
An overall deficit of £12,837 (2024: deficit of £9,743 was generated).
FINANCIAL REVIEW
Reserves policy
It is the policy of the charity to maintain unrestricted funds] which are the free reserves of the charity. This provides sufficient funds to cover management and administration costs and to respond to emergency applications that may arise from time to time.
The charity also maintains designated funds to cover future unexpected expenditure on the maintenance and repairs of the grounds, Groeswen playing fields and dressing toom complex.
Approved 30" ocloh ; : . by order of the board of trustees on 40 5015 and signed on its behalf by: G ae al Gloe$ € EG ELNYET Ridgeway 30 - to-as Trustee Page 2
| INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MARGAM YOUTH CENTRE
We report on the accounts for the year ended 31 July 2025 set out on pages four to eight.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this period {under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required.
It is our responsibility to:
-
e examine the accounts under Section 145 of the 2011 Act e to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and
-
° to state whether particular matters have come to my attenti(n.
Basis of the independent examiner's report
Our examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair view ' and the report is limited to those matters set out in the staternents below.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared the accounts (financial statements) in accordance with Accounting and Reporting by Charities preparing their accounts |in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has since been withdrawn.
We understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting peridds beginning on or after 1 January 2015.
in connection with our examination, no matter has come to our attention:
- which gives us reasonable cause to believe that, in any material respect, the requirements:@ to keep accounting records in accordance with Section 130 of the 2011 Act; and ® to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act |
have not been met; or
- to which in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
WBV Limited Chartered Accountants Woodfield House, Castle Walk Neath West Glamorgan SA11 3LN
Date:
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| MARGAMYOUTHcn ACCOUNTSFOR THE YEAR ENDED 31 JULY2025 |
MARGAMYOUTHcn ACCOUNTSFOR THE YEAR ENDED 31 JULY2025 |
MARGAMYOUTHcn ACCOUNTSFOR THE YEAR ENDED 31 JULY2025 |
MARGAMYOUTHcn ACCOUNTSFOR THE YEAR ENDED 31 JULY2025 |
MARGAMYOUTHcn ACCOUNTSFOR THE YEAR ENDED 31 JULY2025 |
2025 | ||
|---|---|---|---|---|---|---|---|
| RECEIPTSANDPAYMENTS | ACCOUNT | ||||||
| £ | 2025 | £ | £ | 2024 | |||
| RECEIPTS | |||||||
| income Receipts | |||||||
| Grantsand Donations: | |||||||
| SubscriptionsandMembership Fees |
21,796 | 20,499 | |||||
| SundryGrantsandDonations | 118,472 | 63,191 | |||||
| 140,268 | 83,690 | ||||||
| Trading Activities: | |||||||
| Monies Received for Football | |||||||
| Ticketsand HireofBuses | 3,826 | 12,870 | |||||
| Canteen | 21,382 | 10,277 | |||||
| 25,208 | 23,147 | ||||||
| Fundraising: | |||||||
| Special Efforts | - | - | |||||
| Investment Income: | |||||||
| InvestmentAccountInterest | 1,552 | 1,569 | |||||
| 1,552 | 1,569 | ||||||
| TotalReceipts | 167,0 | 108,406 |
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MARGAM YOUTH CENTRE
ACCOUNTS FOR THE YEAR ENDE)) 31 JULY 2025
RECEIPTS AND PAYMENTS ACCOUNT (CONTINUED
| 2025 | 2024 | |||||
|---|---|---|---|---|---|---|
| £ | £ | £ | £ | |||
| PAYMENTS | ||||||
| YouthClub Equipment | 550 | 2,055 | ||||
| Fees | 56,722 | 47,034 | ||||
| insurance | 1,217 | 1,181 | ||||
| Water Rates | 1,126 | 1,039 | ||||
| Trophiesand Flowers | 3,868 | 7,417 | ||||
| Repairsand Renewals | 42,459 | 9,783 | ||||
| Heatingand Lighting | 4,856 | 4,734 | ||||
| Field Maintenance | 49,532 | 20,365 | ||||
| Sports Equipment | 3,173 | 5,566 | ||||
| Canteen | 13,983 | 13,715 | ||||
| Coach | 2,250 | 5,080 | ||||
| CBACharges | 129 | 180 | ||||
| Total Payments | 179,865 | 118,149 | ||||
| SUMMARY | ||||||
| Total Receipts | 167,028 | 108,406 | ||||
| TotalPayments | 179 | 118,149 | ||||
| Net Receipts | (12,837) | (9,743) | ||||
| Bank Balancesat 1stAugust 2024:- | ||||||
| CurrentAccount | 3,631 | 19,043 | ||||
| InvestmentAccount | - | - | ||||
| HSBC Designated CurrentAccount | 84,533 | 78,864 | ||||
| 88,164 | 97,907 | |||||
| 75,327 | 88,164 | |||||
| Bank Balances at31stJuly2025:- | ||||||
| CurrentAccount | 3,212 | 3,631 | ||||
| InvestmentAccount | - | - | ||||
| HSBCDesignated Currentaccount | 72,115 | 84,533 | ||||
| 75,327 | 88,164 |
Approved by the Board of Trustees on
nd signed on their behalf by: -
G.S.'Bowditch - Treasurer 3y.iw- 2S
G Ridgeway - Trustee %o-i0 -45
Page 5
| STATEMENT MARGAM YOUTH pane OF ASSETS AND LIABILITIES AT 31ST JULY 2025
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£ 2025 | £ £ 2024 £
Monetary Assets
Bank Current Account | 3,212 3,631
National Savings investment Account os -
Designated Current Account:
Rent 2,000 1,500
Groeswen Project 15,865 11,725
Margam Youth Reserves 16,564 11,814
Interest 1,551 1,569
New Build Fund 32,900 48,400
Ground Fielding Fund - | 2,000
NPTCVS Grant Funds 3,235 7,525
y2-35 84,533
75,327 88,164
Liabilities
The Charity hadno liabilities at 31st July 2025 other than stata fees of£330.
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MARGAM your CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
1, ACCOUNTING POLICIES
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Accounting convention
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 2015)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of |reland’ and the Charities Act 2011.The financial statements have been prepared on a going concern basis under the historical cost convention with the exception of investments which are included at market yalue, as modified by the revaluation of certain assets.
TheCharities financial(Accounts statements and Reports) have beenRegulations prepared 2008 to give only a truetb the and extent fair’ required view and to have departed provide a ‘true from and thefair view'. This departure has involved following the Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Practice effectiveIreland (FRS102) fromrather 1 Aprilthan 2005the Accounting which has sinceand Reportingntheby Charities: Statement of Recommended
Margam Youth Centre meets the definition of a public entity under FRS 102.
Incoming resources
All incoming resources are included on the Receipts anii Payment account when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
Expenditure is accounted for on a receipts and payments basis and has been classified under headings that aggregate all cost related to the category. Where cpsts cannot be directly attributed to particular headings they have been allocated to activities on a basis|consistent with the use of resources.
Tangible fixed assets
For useBurglarby theAlarms,Charity andWeightliftingbelonging toEquipment, the GeneralvettePurpibses Fund:-Water Boiler, Trophy Case and other equipment valued for insurance purposes at £11,032 (2024: £11,032).
The Club House Building is valued for insurance purppses at £136,646 (2024: £136,646).
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Further explanation of the nature and purpose of each) fund is included in the notes to the financial statements.
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MARGAM“— CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
2. TRUSTEES REMUNERATION AND BENEFITS
||||||||||
|---|---|---|---|---|---|---|---|
||There were no trustees’ remuneration or other benefitsforthe year ended||||31 July|2025 norforthe year||
||ended 31July2024.|||||||
||Trustees’ expenses|||||||
||Therewere notrustees’expensespaidforthe yearended|||31July2025 norforthe yearended31July2024.||||
|3.|MOVEMENTINFUNDS|||||||
|||||Net|Transfers|||
|||At|||Movementin|between||At|
|||01/08/2024
£|||funds
£|funds
£||31/07/2025
£|
||Unrestrictedfunds|||||||
||Generalfund|(5,325)||(419)||-|(5,744)|
||Designated funds|84,533||(12,418)||-|72,115|
|||79,208|||(12,837)||-|66,371|
||Restrictedfunds|8,956|||~||-|8,956|
||Totalfunds|88,164||(12,837)||-|75,327|
|4,|PURPOSEOFDESIGNATEDFUNDS||||||||
||The designated funds relate to future|expenditure on|||the maintenance|and repairs of the grounds,|||
||Groeswen playingfieldsanddressing room complex.|||||||
|5.|PURPOSEOFRESTRICTEDFUNDS||||||||
||||||||||
||Therewereno restrictedfunds receivedthisyear.|||||||
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(oN
ia Accountants
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REGISTERED CHARITY NUMBER: 515319
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED) 31 JULY 2025
FOR MARGAM vox CENTRE | | | Watkins radfield & Co., HW Vaughan Boe. and WBVare trading names of WBV Limited, a company registered in Efgiand & Wales No. 07250663 paisa Renicteredent halegae Getapare a Institute ofChartered Accountantsin Engiand and Wales together. ASeea |
| |
MARGAM YOUTH CENTRE FOR THE YEAR ENDED 31 JULY 2025 CONTENTS OF THERD STATEMENTS
|
7
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Report of the Trustees
independent Examiner's Report
Receipts & Payments Account
Statement of Assets and Liabilities
Notes to the Financial Statements
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Page
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4&5
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7&8
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MARGAM] CENTRE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2025
The trustees present their report with the financial statemefts of the charity for the year ended 31 July 2025. The trustees have adopted the provisions of 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 2015). | REFERENCE AND ADMINISTRATIVE DETAILS | Registered Charity number | 515319 | Principal address 2 Heol y Gwrgan Port Talbot West Glamorgan SA13 2DG Trustees Mr George Ridgeway Mr Graham Bowditch Mr Brian Short Mr Paul Slee Ms Kelly Andrews independent examiner WBV Limited Chartered Accountants Woodfield House | Castle Walk Neath West Glamorgan SA11 3LN | STRUCTURE, GOVERNANCE AND MANAGEMENT | Governing document document The constitution was adopted on adopted on on 27 November 1977 as amended amended 20 December December 1981, 11 April 1983 and 6 May 1984. | Margam Youth Centre was registered with the Charity Commission on 13 July 1984. TheRisk managementtrustees have a duty to identify and review the risk| to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurpnee against fraud and error.
Trustees
Governing document document The constitution was adopted on adopted on on 27 November 1977 as amended amended 20 December December 1981, 11 April 1983 and 6 May 1984.
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MARGAM YO! CENTRE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2025
OBJECTIVES AND ACTIVITIES
Objectives and Aims
Margam Youth Centre is run for the benefit of children within Margam and the surrounding areas. Other organisations use the building; coffee mornings for old age pensioners and bingo evenings. The centre is focused on providing football activities for boys and girls from ages 6 to senior level. The activities provided are to benefit the people living in Margam.
The trustees have considered the facilities available and have| paid due regard to the Charity Commission advice on public benefit when considering the activities undertaken.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
An overall deficit of £12,837 (2024: deficit of £9,743 was generated).
FINANCIAL REVIEW
Reserves policy
It is the policy of the charity to maintain unrestricted funds] which are the free reserves of the charity. This provides sufficient funds to cover management and administration costs and to respond to emergency applications that may arise from time to time.
The charity also maintains designated funds to cover future unexpected expenditure on the maintenance and repairs of the grounds, Groeswen playing fields and dressing toom complex.
Approved 30" ocloh ; : . by order of the board of trustees on 40 5015 and signed on its behalf by: G ae al Gloe$ € EG ELNYET Ridgeway 30 - to-as Trustee Page 2
| INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF MARGAM YOUTH CENTRE
We report on the accounts for the year ended 31 July 2025 set out on pages four to eight.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this period {under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required.
It is our responsibility to:
-
e examine the accounts under Section 145 of the 2011 Act e to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and
-
° to state whether particular matters have come to my attenti(n.
Basis of the independent examiner's report
Our examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair view ' and the report is limited to those matters set out in the staternents below.
Independent examiner's statement
Your attention is drawn to the fact that the charity has prepared the accounts (financial statements) in accordance with Accounting and Reporting by Charities preparing their accounts |in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has since been withdrawn.
We understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting peridds beginning on or after 1 January 2015.
in connection with our examination, no matter has come to our attention:
- which gives us reasonable cause to believe that, in any material respect, the requirements:@ to keep accounting records in accordance with Section 130 of the 2011 Act; and ® to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act |
have not been met; or
- to which in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
WBV Limited Chartered Accountants Woodfield House, Castle Walk Neath West Glamorgan SA11 3LN
Date:
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| MARGAMYOUTHcn ACCOUNTSFOR THE YEAR ENDED 31 JULY2025 |
MARGAMYOUTHcn ACCOUNTSFOR THE YEAR ENDED 31 JULY2025 |
MARGAMYOUTHcn ACCOUNTSFOR THE YEAR ENDED 31 JULY2025 |
MARGAMYOUTHcn ACCOUNTSFOR THE YEAR ENDED 31 JULY2025 |
MARGAMYOUTHcn ACCOUNTSFOR THE YEAR ENDED 31 JULY2025 |
2025 | ||
|---|---|---|---|---|---|---|---|
| RECEIPTSANDPAYMENTS | ACCOUNT | ||||||
| £ | 2025 | £ | £ | 2024 | |||
| RECEIPTS | |||||||
| income Receipts | |||||||
| Grantsand Donations: | |||||||
| SubscriptionsandMembership Fees |
21,796 | 20,499 | |||||
| SundryGrantsandDonations | 118,472 | 63,191 | |||||
| 140,268 | 83,690 | ||||||
| Trading Activities: | |||||||
| Monies Received for Football | |||||||
| Ticketsand HireofBuses | 3,826 | 12,870 | |||||
| Canteen | 21,382 | 10,277 | |||||
| 25,208 | 23,147 | ||||||
| Fundraising: | |||||||
| Special Efforts | - | - | |||||
| Investment Income: | |||||||
| InvestmentAccountInterest | 1,552 | 1,569 | |||||
| 1,552 | 1,569 | ||||||
| TotalReceipts | 167,0 | 108,406 |
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a
MARGAM YOUTH CENTRE
ACCOUNTS FOR THE YEAR ENDE)) 31 JULY 2025
RECEIPTS AND PAYMENTS ACCOUNT (CONTINUED
| 2025 | 2024 | |||||
|---|---|---|---|---|---|---|
| £ | £ | £ | £ | |||
| PAYMENTS | ||||||
| YouthClub Equipment | 550 | 2,055 | ||||
| Fees | 56,722 | 47,034 | ||||
| insurance | 1,217 | 1,181 | ||||
| Water Rates | 1,126 | 1,039 | ||||
| Trophiesand Flowers | 3,868 | 7,417 | ||||
| Repairsand Renewals | 42,459 | 9,783 | ||||
| Heatingand Lighting | 4,856 | 4,734 | ||||
| Field Maintenance | 49,532 | 20,365 | ||||
| Sports Equipment | 3,173 | 5,566 | ||||
| Canteen | 13,983 | 13,715 | ||||
| Coach | 2,250 | 5,080 | ||||
| CBACharges | 129 | 180 | ||||
| Total Payments | 179,865 | 118,149 | ||||
| SUMMARY | ||||||
| Total Receipts | 167,028 | 108,406 | ||||
| TotalPayments | 179 | 118,149 | ||||
| Net Receipts | (12,837) | (9,743) | ||||
| Bank Balancesat 1stAugust 2024:- | ||||||
| CurrentAccount | 3,631 | 19,043 | ||||
| InvestmentAccount | - | - | ||||
| HSBC Designated CurrentAccount | 84,533 | 78,864 | ||||
| 88,164 | 97,907 | |||||
| 75,327 | 88,164 | |||||
| Bank Balances at31stJuly2025:- | ||||||
| CurrentAccount | 3,212 | 3,631 | ||||
| InvestmentAccount | - | - | ||||
| HSBCDesignated Currentaccount | 72,115 | 84,533 | ||||
| 75,327 | 88,164 |
Approved by the Board of Trustees on
nd signed on their behalf by: -
G.S.'Bowditch - Treasurer 3y.iw- 2S
G Ridgeway - Trustee %o-i0 -45
Page 5
| STATEMENT MARGAM YOUTH pane OF ASSETS AND LIABILITIES AT 31ST JULY 2025
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£ 2025 | £ £ 2024 £
Monetary Assets
Bank Current Account | 3,212 3,631
National Savings investment Account os -
Designated Current Account:
Rent 2,000 1,500
Groeswen Project 15,865 11,725
Margam Youth Reserves 16,564 11,814
Interest 1,551 1,569
New Build Fund 32,900 48,400
Ground Fielding Fund - | 2,000
NPTCVS Grant Funds 3,235 7,525
y2-35 84,533
75,327 88,164
Liabilities
The Charity hadno liabilities at 31st July 2025 other than stata fees of£330.
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MARGAM your CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
1, ACCOUNTING POLICIES
|
Accounting convention
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 2015)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of |reland’ and the Charities Act 2011.The financial statements have been prepared on a going concern basis under the historical cost convention with the exception of investments which are included at market yalue, as modified by the revaluation of certain assets.
TheCharities financial(Accounts statements and Reports) have beenRegulations prepared 2008 to give only a truetb the and extent fair’ required view and to have departed provide a ‘true from and thefair view'. This departure has involved following the Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Practice effectiveIreland (FRS102) fromrather 1 Aprilthan 2005the Accounting which has sinceand Reportingntheby Charities: Statement of Recommended
Margam Youth Centre meets the definition of a public entity under FRS 102.
Incoming resources
All incoming resources are included on the Receipts anii Payment account when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
Expenditure is accounted for on a receipts and payments basis and has been classified under headings that aggregate all cost related to the category. Where cpsts cannot be directly attributed to particular headings they have been allocated to activities on a basis|consistent with the use of resources.
Tangible fixed assets
For useBurglarby theAlarms,Charity andWeightliftingbelonging toEquipment, the GeneralvettePurpibses Fund:-Water Boiler, Trophy Case and other equipment valued for insurance purposes at £11,032 (2024: £11,032).
The Club House Building is valued for insurance purppses at £136,646 (2024: £136,646).
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Further explanation of the nature and purpose of each) fund is included in the notes to the financial statements.
Page 7
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MARGAM“— CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2025
2. TRUSTEES REMUNERATION AND BENEFITS
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||There were no trustees’ remuneration or other benefitsforthe year ended||||31 July|2025 norforthe year||
||ended 31July2024.|||||||
||Trustees’ expenses|||||||
||Therewere notrustees’expensespaidforthe yearended|||31July2025 norforthe yearended31July2024.||||
|3.|MOVEMENTINFUNDS|||||||
|||||Net|Transfers|||
|||At|||Movementin|between||At|
|||01/08/2024
£|||funds
£|funds
£||31/07/2025
£|
||Unrestrictedfunds|||||||
||Generalfund|(5,325)||(419)||-|(5,744)|
||Designated funds|84,533||(12,418)||-|72,115|
|||79,208|||(12,837)||-|66,371|
||Restrictedfunds|8,956|||~||-|8,956|
||Totalfunds|88,164||(12,837)||-|75,327|
|4,|PURPOSEOFDESIGNATEDFUNDS||||||||
||The designated funds relate to future|expenditure on|||the maintenance|and repairs of the grounds,|||
||Groeswen playingfieldsanddressing room complex.|||||||
|5.|PURPOSEOFRESTRICTEDFUNDS||||||||
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||Therewereno restrictedfunds receivedthisyear.|||||||
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