Cefn Coed Community Centre Report and Financial Stalements Year ended 31st Mah 2022 Chadty Numbar 523664
CEFN COED COMMUNITY CENTRE Contents P#Ee 1£821 And AduJiDistrative Inforlnatio Report of the Trnstees Report of th¢ tndependent Examtner S¢atcmcnt of Finallcial Activities Balanc¢ Sh¢et Not¢5 ts the FintLncial Stat¢m¢nts 7-12
CEFN COED COMMUNITY CEfiTRE al and administrative in ormdtion Regfisted Charlty f4umber 523664 Tru$t¢¢$ Mr Philip Griffiths (Sc¢r¢¢ary) Mr D Willis Mr R Davies Irs A Wilkins (Tre&surer) Mrs S Towming (resigned I lth April 2024) Mr5 J Wilkin5 (appointed 22nd O¢lob¢r 2020) PriA¢ip¥l offlte Ccfn Coed Community Centr¢. Cefn Co¢d, Merthyr Tydfil, CF48 2NA. Independent Examlner R l Knoyle ACA FCCA Baker Knoyle Accountancy Ltd., Chartercd Accountantss. OA)ii Busin¢ss Cenlre, Rhydycar Business Park. Mcrthyr Tydfil, CF48 IDL. Page I
CEFIY COED COLblMUNITY CEPfTRE ort the trus¢ees or ihe ear ended 31 ch 2022 The twstees present th¢ir report pnd accounts of the charity for the year ¢JMl¢d 3 1st March 2022. Th¢ fitw]¢ia] siatements bave been pi¢pard in &CrdanC¢ with the accounting policies set out on pa8e 7 and comply the cl]ariW5 trust deed and applicable law. The trSlee5 h8v¢ adoptcd the provisions of Accounting and Regx)rting by Charliies.. Statement of RQmMended Practice apph"cable to charities preparing their accounts in acrdance wtth the Financi&l Reporting Stsndard applicabl¢ in the UK and R¢publi¢ of ITeland (FRS 102) (Effectiyc l Jaouary 2019). Coth$lltutlon And objects Th¢ Charity is governed by the revised constitution of F¢bruary 2006 and provides faciliLies within community centre for th¢ b¢nefit of tho inhbitsnts of Vaynor ward aud thc R¢ighbourhood. The charity has contitiued to d¢v¢lop its activities in accordance with its ¢OnStitution. This is to provide a Coullnuwty C¢nir¢ for the benefit of the iDbabitants of VayDor ward and the Dcigbbourhoo All properti¢4 halinUSe and 8arag¢ ar¢ now with the ChBtity Commission. sUmnrY of mgln activi¢leg Und¢r ¢ontinu¢d Coyid restriciions the centre re-opetted in May 2021. Centre activities resume4 albeit at a r¢du¢¢d l¢vel. The centre continued to be used (or mwss Covid (esting by the local authorily throughoui April 2021. How our Actlvltle9 dellver publ1¢ benollt Our centre provid¢$ fa¢ili¢ies wiihin a community centre for the benefit of local r¢$idenis. The centr¢ provid¢5 & focal point for many local 8roup5 and org811i5alions at a very reosotjable cost. We hav¢ complied with th¢ duty in section 17 of the 2011 Charities Act to hDv¢ due regard to guidance publiyhed by the Cornmission in ttqpect of our duty lo provide public benefit. Org4nlg4tlon Tlie tnlee9, who are also members of th¢ wmmitl¢¢. who have served durin8 the y¢4r set out on page I, The committ¢e 5¢¢ks to ensure ihat ihe ne&ls of the cliarity Rnd ih&t of th¢ public, Who the charity setves. 8re appropriately refle¢t¢d through Ihe diversity of the trusttt body. TrAdition&l busin¢ss Skills are rcprwntcd among the tntee$, as well as indiNiduals with knowledge of the environment within which the charity opcrat¢s. In an alten4)t to eJLwre thAt Ihe nerds of th¢ charily and the public Ar¢ individuals who p085ess the Rquir¢d skills and knowledge are from ttme to time Invit to join the board of trustees, Most trth3tees are readY familiar with the work of the charity. New tnLs¢ees are invited to vi%it th¢ charity's premis¢$ and to meet some of the centre serS to obtain a better undcrstanding of how tb¢ ¢haTity operates. New trletS ar¢ ¢n¢ourdged to meet and hold discussions with the existiti8 trustees. Page 2
CEFN COED COMMUNITY CEf*TRE orto the trustees ar ended 315tMarch 21122 Con¢'d Fillanees In 2022 iacom¢ deriv¢d from rentals and 8fdnts decreased from £S1.314 it) 2021 to £41,923 in 2022 while expenditure increased from £41.757 to £56,084 in 2022. Th¢ ¢harity th¢refore genernted a deficit trading po$iiton of £14,161 (2021.. swjlus £9,557). Gcnetal Reserves deereased from £26.373 in 2021 to £14,631 in 2022. During the year to March 2022, the ¢entre Vds again partiallyclosed du¢ to the Continuing covid pand¢mi¢. Hall rental iemailled lower than norn1 yeArs, but du¢ to the partial reopenin8. wa5 up on tlie previous year. orihe grdnt iiKome of £22,485. £9259 related to Covid sw)port from local goverDment and HMRC. Furlough was paid to cover the wag¢5 of two members of staff from May 2021 ¢0 September 2021. At the end of Ibe financial year, the counrry remained in a stale of unktwvm, bur again govemnKnl $upport. the tteeS are positiv¢ that thc Centre will be sustAined uiltil norn1 rVe1C$ clln be restored. Running costs have b¢¢0 kept to a rninimum wher¢ possible during the year. TFLere were roof repairs in the year totalling £14.950, biit this w85 partially fided by a capital graiit of £13,266 from MTCBC. Prinelpal futtdlD% sources The principal income souw¢ continued to be ihe incon% g¢nerat¢d from hall and room hire whi¢h 18 th¢ main nction of the centr¢. HowevcT. durin8 the year to March 20?2, it was Covid nI support from HMRC and local governm¢nt that whs the predomtnani sour¢¢ of in¢om< tO8ether with a NrrcBC ¢¥pi181 grwnt. Res rve8 ThL Mllna8Ltnent Conjmittee has exftmined th¢ ¢harlI r¢quiTeJnents for reserves tn light of the main risks to the organisatson. li h&$ ¢stsblish¢d a policy uthereby the unr¢strictrd funds not commillLd or invested in tangible fJx¢d 855¢ts held by the charity should be appToximaRty 12 nK)nihs of ¢xp¢ndittire (cx¢luding thc dcprcciation charge). Th¢ iargei fTee resetves Ar¢ thcrcforc Jpproxirnatcly £38,715. Free reserves as at 31st March 2022 siood 01 £14,631. whi¢h is 8hurt of this tsrget. Th¢ InJ5lces intend to Address this position. and aim to incTcas¢ free reserve8 in thture years. when nornul services arg rcsiored. Pl&ns for future p¢rlodg Witli th¢ r¢¢¢nt ending of (he covid pind¢ini¢, it is 8tiU thfficult io plan for th¢ fu¢ure. However assumin8 normal services resume ih¢n the centr¢ plans to eontune to provid¢ a high quality and well maintained omnunity ¢cntr¢ for the foreseeable futur¢, subject lo satisfrdctory ndIng arrang¢mellt5. Th¢ Centre will continue to actively s¢¢k woys to raise centre incom¢. primarily througii increasin8 income generated from hire of the ecntre. The centre will ¢ontinue ¢0 Te•evaluate their rolc future aclivities durin8 the post Covid re¢overypcriod. ApprOd by the board Phillp Griffiths- Trusiee Dated.. Page 3
CEFTr* COED COTrIMUNITY CELYTRE Iiide endentExaminers Re rt to ihe Trustees I r¢port to the charity oll Y examination of tbe accounts of the Cefa Coed Comn)unity Centrc for the year ¢nd¢d 31st MEirch 2022. Re4pc•nslbllltles And bASiS of repon As the chIty'S trustr£s you are responsibl¢ for the preparntion of the accounts in a¢CoTde with tb¢ requirements of the Charities Act 2011 {'the Act.). I r¢port in respect of my exatninaiion of th¢ chariry's accowits carried out under seetion 145 of the Act and in caIng out my exan)ination I hav¢ followed all the apph"¢fdbl¢ DirKtions given by the Charity Con)mission under section 145(5)(b) of the Act. Independent exAminer'1 8tAlement I have compl¢ted my examination. I confirni th81 no nuterial matr¢rs have come to my att¢nlion in conneetiort with the examination Biving me cause to b¢li¢v¢ that in any nJaieri81 respe¢i'. a¢countiDg records were not kept ID Twt of th¢ cbatiiy as r¢quir¢d by section 130 ofthe ACL or 2 the accounts do not accord with those re¢ord$ 3 the accounts do not comply with the 8ppli¢abl¢ rcqutrements coty¢erning the forni alld eon¢¢nt of occounts sei out in the Charltiey {A¢¢ounts Reports) Regulations 2008 other than siiy requirement that tlie account$ give a'true and fair view. wbicb is not & mgtter considered as part of an independent examination. have no c()ncerns aiid haye come acro9$ iio other matters in ¢onn¢¢tion with the emination to wliicl) atlentlo should be dra n thi5 report in ord¢r to eTJ4Lble a proper und¢rstanding ofthe &¢counts lo be reached. R l Knoyle ACA B#ker Knoyle Acc Orbit F5u8iness Centr Rhydycar Bu5ines3 Par Mcrthy Tydfil CF48 IDL CA ntamey Llmlted .. Ab/0S/5. P8g¢ 4
CEFN COED COMIMUNITY CENTRE STA TEME,VT OF FI,VANCIAL ACTIIqTIES JNC'LL'DIING I,N'CO,IIE A,VD FXPEIVDJTLRE ACCOIINT POR THE YEAR EfvDED 31 hlARCH 2022 UDrest- ricted Fund$ Re$t- rlcted Funds Total Funds 2022 Total Fund5 202] NDIt INCOME AND ENDOWMEfffs FROM ChNrltable 11ctItI¢9 CotnmLinity C¢ntre activities- hire income Donations & lega¢ie8 Other income 19,438 19.438 22.485 6,948 44.366 20.485 TotAI Incomlng resource$ (3) 21.438 20.485 41,923 51,314 EXPENDITURL OLY CharltAble actlvltles Community Ccntre &cti&i¢i¢s 33,622 22,462 56,084 41.757 TotAI re8ouree$ exp¢nded 12) 33.622 22,462 56.084 41,757 Net (outgoingyincoming resour before ti'anslers (12,184) (1,977) (14.161) 9,557 Transferg between fundg (12,184> (1.977) 114,1611 9,557 ReconclllAtlon of Funds Total fvnds broLi¥ht foNiard 42.368 69.821 112,189 102,632 Total tunds carried forward 30,184 67,844 98,1)28 The notes form part of these finon¢ial statement8. Page 5
CEFN COED COMhlUNITY CENTRE BALANCE SHEET AS A T31 MARCH 2022 2022 2021 N•*¢ TANGIBLE FJXED ASSETS 18) 83.397 85,816 CLRREI¥T ASSETS C&sh ai bank & itt hand Debtors and prepaymenis 26.569 7,668 23,502 11,900 34.237 35,402 CREDITORS.. amounts falling due witliin one year {9) {19,6061 (9.029) NET CURRENT ASSETS 14.631 26,373 TOTAL ASSETS LESS CURRENT LIABILII'IES 98,028 I12.189 NET ASSETS (io) 98,028 112,189 Unregtrlcted fund5 - GenerAI 30,184 42,368 Re$trl¢tcd funds- Grants 67,844 69,821 TOTAL Tr UNDS 98,028 112,189 Approved by the Trustee8 on .. . and sign on its behalf by. Mr P GrilYithy- Tnwee Page 6
CEFN COED COMMUPilTY CEPRE NOTES FORMITh'GPAR T OF THE FlIVANCL4L STA TEMENTS POR THE YEAR EIVDED 31 HI.4RCH 2022 ACCOUNTINC POLICIES The principal accounting tKblicies are sumtnarised below. The accouDting poli¢ies have been Applied constenily ihroughour the year and in the prliftg yw. o) B4$15 ofpreparlDg the flDancial sta(emellts The financial ststements of the charity, which is a publie benefit entity under FRSI 02, have been pr#pared in accordance with the Charities SORP (FRS 1021'Accounring and Reportiug by Charitites.. Statement of ReCOm]nend Praeti¢¢ applicable to eharitie5 preparing their accounts in accord8n¢e with the Financial Reporting Standard applicable in rhe UK and Republic of Ireland (FRSI02)(efft1ve l January 2019), Financial RerM)rting Stondard 102 Financial Sw)dhrd applicable in the UK and Rcpublic of Irdand, and the Chariti¢s Acr 2011. The financial ststements have been preparui urtdcr the historical cost convention. Inncial reportlng $¢4nd*rd 102- reduced dlsclo8urt exemptlons The ¢harity has taken Advarttage of the following disclo8Lire exemption in preparaing the8¢ fin&ncial sta¢em¢ntS, AS pemlittl by FRS102 ' The Financial Reporting Standard applicable i th¢ UK and Republi¢ of Ircland.: Che r¢quirem¢nts of sl0n 7 Sratement of Cash Flow Lexal form Cefij CO Community Centre is an unineorporoicd charity. re8ister•JJ in Englattd & WAles. b) Fund accountln8 unrestrict furtds are avai14ble for use al the dis¢rdion of the trusie¢s in furtherance of the general objeclive8 of the ¢barity. Restrict<4 funds are subje¢¢pAL lo r¢8lriction$ on their expenditure imposed by the donor or through the temis of an appeal c) Incomln8 resourc¢s All incoming resour¢e$ ore included in the 8thi¢ment of tinaociol a¢tivities when tbe charity is entitl&l ¢0 (he incomc And rhe amuunl can b¢ qu¥ntIfi with reffj$onoble accuracy. The following 8pttifi¢ policies are applied to particular catcgoric5 of income: Hall hire and ot4er internally genwated income are in the Accounts on on ac¢nthls bAsi$. as and when rhe ¢h8rity has provided the service entiiliTJ8 It to the consideration. Incoming resources from grants, where relat1 to perfomiane¢ and specifie delivernble8, are accoiint¢d for a8 the charity earn8 the ri¥hi to ¢ODsiderati(M) by it5 p¢rformance. Grants where entitlanent 15 nor eonditi(aj the delivery of a spttific perforniance by the eharity are rccognised when the ehArity becomes uneonditionally entitled to the gr1. Granty for the purchase of fix assds are recogni1 in 11 as r¢sLricted funds when t1vable. Transf¢r8 are made to unrestricted funds {GenEral fund) in line with the dq)reciatiort policy on the underlyin8 a98et. Gi(L8 irt kind are includd in the income and ¢xpenditure account where they are applied in carwng out charitable activilie5, where the ehkrity would rthenvi8¢ have TO purchase the donat1 facility and the IKnefit 18 both quantifiable and tla1. The quantifiable benefit is shown as both ineoming and expended r¢sour¢es withtn the appropriate fiLn(L%. Where the gift is all 85s¢t it is trted as income and taken to stock or fixed 4ss¢ts as appropriate. d) R0re¢S espended Expenditure is re¢ogDised on an a¢¢nwl basis as a liability is inclrnI. Expendit¢ includes VAT which cannot be recovered, and is retrfTrrt as part of the expenditure to which it relat¢8. Page 7
CEFN COED COMMUNITY CEL¥TRE NOTE.g FORMING PAR T OF THE FI.VANCL4L STA TEMEIVTS FOR THE YE4R k,VDED 31 AL4RCH 2032 e) Penslon ¢ost$ Contributlolls m&d¢ to the employ¢e5 own personal pension schemes. The pension c03t charge represents those contributiotty payable to the individual schemts. 0 Trlxed x48ets Fixed a8s¢t$ are slated at eost less accumulat dweciation. Deprxiation is prmyded t4t rates calciLlai¢d to write off the ¢a%t of eacb asset tsv ils expect use] life. Property 50 years raight line Computer ¢quipmeDt 4 >vr$ reducing balance & 33.30/• straight line Other equipment 5 yEars straighr line and 25Yo Teducing balAnce Debtor$ and crediton re¢ei%'ablelpa)'able wrfthln one ytlr Debtors thnil crcditors with stated interest rate and rcceivable or Imble within one year are reKorded at 2. TOTAL RESOURCES EXPENDED UnrtslrlLted Restrlcted fuDd8 nds 2022 TolMI 2021 Totol Communlty Centre ATtIlIes. Stsff costs: Wage5 and national insurance Emplo)rr pension 14.333 270 14,603 7,259 21,592 270 20,935 254 21,189 7,259 Premises ¢os¢s'. Lighi and heal 1rt5urances Repaiis rew8]S Play equipmeni Telephone & internet charges Computer equipm¢n¢ Wllicr rates Sundry Professional fees Clearting and cottsiunables 5,353 5,353 1,646 20.098 6,342 1,639 6,660 0.872 13,226 714 714 241 18 309 18 309 156 331 50 812 812 812 15,724 13.226 28,950 16,231 Governance Costs: Postage & stktionery Acwuntjncy 513 513 2,340 295 .620 2.853 2.853 1,915 DeprlatIOn.. operty 442 1.977 2,419 2,422 442 1,977 2,419 2,422 33,622 22.462 56,084 41,757 Page 8
CEFTr4 COED COMMUNITY CE.NTRE NOTES FORMJ.NG PAR T OF THE FI.VANCIAL STA TEMEThTS "OR THE YEAR FNDED 31 AIARCH 2Q23 TOTAL INCOMING RESOiIRCES 2022 2021 Hall Hire Donari(ms & Legacies 19,438 22,485 6,948 44,366 41,923 51,314 Includd Tn donationg & l¢gacieJ is £2.1XM) of unr¢51TiCt&J grant income. £13,226 ig from Menhyr Tydfil County Coun¢il Rf & Heaters Gran¢ and £7,259 HhlRC Job R¢teniion Grant. 4. NET INCOMEJ(EXPENDITURK) FOR THE YEAR 2022 2021 This is slated afier charging: Trustee emoluments Accountancy fees - Indepthdent examinaii her services 870 1,470 2.419 810 810 2,442 Dcpreciatioa During the ye4r. one trustee wa8 re1rnknrS £Nil (2021: £18n for sthiion¢ry costs. S. STAFF COSTS AND NUMBERS StatT¢s were as follows.. 2022 2021 Salaric Employer Pensiort contributirms 21,592 270 20,935 254 21,862 21,189 No employee reccivd emoliiments ofmore thAn £60.IM)O The Average number of emplo)res, estimatcd on a full - time quivalent ba513, analys by function as tollows- 2022 Nuniber 2021 Nuniber Costs in furtherance of Charitable obitttives.. The key management personnel of the charity are the trustees. The total employee benefit5 of thc key personnel of the charity w¢ £Nil (2021-£Nil} 6. TAXATIO The Char]ble is exempt from on its thl¢able actiVitid8. DEBTORS 2022 2021 Other debtors and prepaym¢nts 7,668 Page 9
CEFN COED COMNIUPlTY CENTRE 2VOTES FORVNGPAR T OF THE FINANCL4L STA TEME FOR THE Tr"EAR ENDED 31 fv1.4RCH 2022 8. TANGIBLE FIXED ASSETS Compllter Llft equipment F'hold property Equip- ment Tolal Cost: At 1.4.21 49,088 120,969 94.382 272.439 At 31.3.22 49.088 120,969 94,382 272,439 Depre¢iation'. Ai 1.4.21 Charge for year 49,088 35,153 2.419 94,382 186,623 2,419 At31.3.22 49,088 37,572 94,382 189,042 book VAlueg.' At31.3.21 85,816 85.816 Ai 31.3.22 83,397 83,397 9. CREDITORS: moun¢S fillln¥ due wlrhln one yeir 2022 2021 Other crediiors and accruals Taxtttion and social security 19,426 180 7,489 1,540 19,606 9,029 10. ANALYSIS OF NET A&SETS BF.TWEEN FUNDS Unrest- rltted R¢8t- rlet¢d 2022 Total 2021 Totxl Tangible fLxed assets Current assets CLirr&it lilbilities 15,554 34.237 {19.606) 67.843 83,397 34,237 (19,606) 85,816 35,402 (9,Q29} 30.185 67.843 98,028 112,189 Page 10
CEFN COED COMMUNITY CENfRE NOTES FORMING PAR T OF THE FJNA,I'CIAL STA TFMENTS FOR THE YFAR ENDED 31 BIARCH 2022 11. MOVEMENTS IN FUF4DS At 1.4.21 Incomlng resources Ovtgolng res04r¢e5 TrAns- fer$ At 31.3.22 R)cted fiLnd8: Resrri¢ted Capital Fund MTCBC Roof & Heaters Fund EJMRC JRS Grant 69.821 (1,977) (13,226) (7.259) 67,844 13,226 7,259 Total restricted fund5 69.821 20.485 122,462) 67,844 Unrestricted fund.. G¢ncrAI fiwd D¢signatcd fids 26J73 15.995 21.438 (33,622) 442 1442) 14,631 15,553 42.368 21.438 (33,622) 30,184 Total fvnd6 112.189 41,923 (56,084) 98,028 Doignated fvnd9 repreyent aMniS 8¢t aside to write th)wn fixed a$sets. Actlvltles undertaken w51h each mAJor tsnd Restrlcted C4plial Funds received for the PureS of the purcha8e of equipment or SI1[fiCallt repoirg to the Centre. 12. COTriTROL The charily is wntrolled by 11$ Inisiea, as identified on page l. 13. PF.f4SION COfvIMITMETril'S During the year the chArity wa5 commiied to pay £270 (2021.. £254) to ihe emplw¢s pension 8cheme5. At ihe year cnd £57 (2021.. £99) contril)ution3 e UnP8Ld. 14. GOING CONCV.RN The accounts h&ve be¢n pr¢paTed on the going concem FAsis. However, the continued futur¢ of the centre in its ¢urrenr guise is dependent upon sa¢isfactw incojlle sources b¢ing indentified by its trustees. These issues have twi included within the Trustce5 Rem. The trustees have alsA) coTrsidttd the impJ¢i of Covid 19 and conclude th81 it will not affe¢t the ability of the organi3&tiim to continue its future operAtions when strvices reiurn to nomial. 15. RELATED PARTIES There w¢re no related party transactions for the pr eThdl 31si March 2022. Pagell
CEFN COED COMMU.YITY CELYTRE IVOTES FORIVJNG PAR T OF THF FI.WANCIAL STA TEMENTS FOR THE YEAR E.WDED 31 MARCH 21122 16. COMPARATIVE STATKMENT OF FINANCIAL ACTIIryTIES Lfnrest- rlrted FuDds Rest- rlcted TotAI Totnl Funds 20211 N•tt 2021 INCOME EP*DOWMLNTS FROM ChArltabl¢ Actlvltleg Commullity Centre a¢tiviti¢s- hire income Donations & l¢gacies Oth¢r income 6,948 44.366 6,948 44.366 45,105 Tot81 In¢oming resourcei (31 51,314 51.314 45,105 EXPENDITURE ON Charitable Aetlvlii Commuaity C¢ntre aciiviiies 39.780 .977 41.757 42.529 TotAI resour¢u expended oi 39,780 1,977 41,757 42,529 Net (outgoingvincomitsg r&sources befor¢ Iransf¢r$ 11.534 (1,977) 9.557 2,576 Transf¢rs behveen funds 11,534 (1.977) 9,557 2,576 Reconclllfjtlon of Funds Total fun&8 bmught fonyard 30,834 71,798 102,632 11)0,056 Total funds ¢arried foTward 42.368 69,821 112,189 102,632 The notes fom part of these financial Statements. Page 12