Cefn Coed Community Centre Report and Finanal Statements Year ended 31st March 2024 Charity Number 523664
CEFN COED COTrIMUTrIITY CENfKE Contents Page LegaL alld Adtllinistrdtive Infornjatio Report of the Trustees Report of the lud¢p¢TAdent Euloiner Statement of Financi Activities Balance Shcet Notss tr) the Finallci Statements 7-12
CEFTr4 COED COTrIMUNrrY CENTRE al and adminivtrative in ormalion lieEiSted Cbatfity Trlumber 523664 Trustees Mr Philip Griffiths (Secretary} Mr D Willis {resiBued 15.0525) Mr R L)avie$ Mrs A Wilkins (Treasw¢r) S Tosvning (rtsigned I lth April 2024) Trs J Wilkills (resigncd 15.05.25) Mr M J Vaughan {appointed 15.05.25) Mr K R Thomas (appointed 15.05.251 Mr J Evans (appointed 15.05.25) Mts C Lattg {appointed 15.05.25) Prillcip offic¢ Cefn Coed Cotnmwhity Centre, Cefu Coe<L Mertbyr Tydfil, CF48 2NA. Independent Ex4winer R l Knoyl¢ ACA FCCA Baker Knoyle Accountancy LttL. Chartered A¢coulltantss. Orbit Business Centre, Rhydycar Bvsin¢8s ParK M¢rthyr Tydfil, CF48 IDL. Page I
CEFN COKD COMMUNITY CEJYTRE orto the tru5tee5 r ended 31s¢.V4r¢h 2024 The trusteEs present their report and accounts of the cllarity for the year ended 3 1st March 2024. The financial stat¢ments bave been prepared In accordance with the accounliTLg w)li¢i¢s S¢t out onpage 7 and cotnply with the charit5 tn]st deed and appli¢8ble law. The trteeS bave adopted tbe provisions of Accounting and Reporting by Clharities.. of Recommended Practice applicabl¢ to chAritiE$ pteparing their accounts in accordance with th¢ Financial Rq)ortiug Starard applicable in the UK and Republic of Irelalld (FRS 102) (Effective l Jalluary 2019). CoDStitstion 4nd obJ¢rt8 The Charity is govern by the revised ¢OL8tittttion of Febnwy 2¢)06 and provides f&ciliti¢s within a mllhutiity centre for the benefit of th¢ inhabitants of Vayjwr ward alld the n¢ighbourbood. The charity has cotttinued to develop its activities with its wn5titytii)ll. ThLS is to provide a Conraullity Centre for th¢ b¢n¢fit of th¢ inbabit8nts of VaYT W8Jd and the neigbbourhood. All properti hawbouse and garag¢ DOW VC5d with the Clwity Conm]iOll. Sumnry of maill ctivities The ctntre h&$ opuated throughout th¢ year opcllig daily and by request at weekends. The f]litieS are resubsly used by 8roups and activity orgallisÈtioiJs. How ollr actlvltles deliver public benefrt Our centre provides facilities withtD a wu)mlltiity eetttre for the benefit of local residents. Tb¢ ceThtr¢ provides a focal poitst for ttvdny local wups and org4ni5atio]Js at a v¢ry r¢&sonable cost. We have complied TrAth the duty in sectiOD 17 of the 2011 Cbatities Act to have due regard to guidance published by the Con)mission in r&wect of ourdw to provide public benefit OryanisatioD The tDJ8tw who are also rnembeTS of the eotnmittee. Ntjo have setved dwing the year are Set out on page l. The conllllittee seeks to cnsutt that the tseeds of tbe chaTity and that of the public, tho clJaTity s¢rves, are appTOPTiAtely reflected through ihe diversity of th¢ tnts*e body. Trath"tional business skills are reprttsented anng th¢ trustcts, as well as indivi(knis WAth knowIge of the environm¢nt within which th¢ charity operatrs. In an attellt io eThsure that the needs of tbe cl]arity and the public are meL indidual$ po$s¢&s the requÉred skilb knd knowledge are from time to tiJn¢ invited to joiDthe board of tnLqtees. Most trustees are already rUl11r witb the WOTk of the charity. Ncw trustees ar¢ tDvit¢d to visit th¢ charitys premises and to meet some of the c¢ntre Lsers to obtAin a better undetstattding of how the chariiy operate& New tru5te¢5 ar¢ encouraged nkei and hold discussions with th¢ existing trustee8. Page 2
CEFN COED CONIMUNITY CENTRE orlo tlte tfllslees ear ended 31si March 2024 Conl'd Fin4n£es In 2024 incom¢ derived frojn rentals and grant5 increased from £45,422 in 2023 ro £50.935 in 20?4 while expenditure incieased slighily from £53,637 10 £53,814 in ?024. The charity therefore gTeiierated a deficii trading position of £2,879120?3.. dificit £8,215). Get]eral Reserves decreased from £8.835 in ?023 to £8,375 in ?024. Running costs hav¢ b¢¢n kept io a minimuin where possible dilg the year. Prineipal funding sources Tlie principal income source continued to be the income generated from hall and room hire which is Ihe main nciion of the centre. Reserves olic The Maiiagemenl CoTnmittee ha5 exaTnined the charity's requiremerts for reserves in light of the main risks to the organis2tion It has ¢slablished a policy wl)ereby the ut]Ee5tricted fiiiids not commitied or inv¢sted in tanoible fIxed assets held by Ihe chaiity should be approximaiely 12 months of ¢xp¢nditure (excluding Ihe depreciation charge). The target fr¢¢ rcscrv¢5 are therefore approxintstely £51,395. Frc¢ re%erve% as at 3 1st March 2024 stood at £8,375, which is short ofthis targei. The trustc¢s intend to address this position. and aim io increase fre¢ r¢s¢rves in future years. Plans for futllre periods The centre plans ro continue to provide a high quality and well nltaIned cornmut]ity centre for the foreseeable future, subject to satisfactory funding aangements. The centre will contillue to actively seek ways to Fasse centre income. primarily Ihrough increasing income generated from hire of the centre. Approved by the board Phillp Griffiths- Trustee Dated...03. 103/ws6 Page 3
CEFN COED COTrIMUNITY CENTRE liide endeni Examiner5 R (prl lo ihe Trustees I report to the charity on my examillation of the accoullts of the Ceffi Coed Community Centre for the year elided 3 1st March 2024. Responsibilities and basis of report As the Cliariry's trustees you are iesponsible for the preparation of the accounts in accordance with the requirements of ihe Charities Act 2011 {-the Act'l. I report in respect of Tlly examination of ihe chartry's accounts carri¢d out under section 14) ofthe Act and in carrying out iny examination I have followed all ihe applicable Directions given by the Charity Commission under seciion 14515llbl of the Act. Independent ¢xamither'5 Statement I have complctcd my examination. I confirni that no material matters have come to my attention in connection Thith the examination giving me cause to believe thai in any material respect. accounting records were llot kept in respect of the charity as required by seciion 130 of the Act: or the accounts do not accord with those records the accoimis do not comply with the applicable requireinent5 concerning the fom] and content of accounts set oui in ihe Charities (Account% and Reports) Regiilatioiis ?008 other than any requirement that the accounts give a 'true and tair view. whtch is not a matter considered as part of an independeni examinaiion. I Iiave no concerns and have comc across no other matter5 in COIeCtiOiTr with the examination io which attention should be draTr in this report in order to enable a prop¢r undersialld1g of the accounts to be reached. vle ACA FCCA oyle Aecountancy Ltmited Orbit Ejusiness Centre RhydycaT Business Park MerthvT Tvdfil CF48 IDL Baker Dated.... 0.3 /03/8096 Page 4
CEFN COED COMMUNITY CENTRE STA TEME,tyT OF FI.VA.VClAL ACTIIqTIES INCLUDING INCO,WE AND EXPE..%'DITDRE ACCOU FOR THF YE.4R F,VDFD 31 fyIARCH 2024 L'nrest- ricted Totsl Fundg 2024 Tot Fwids 2023 rlcted Fwids Nott INCOME AND EDowmES FROM Charitable actiTrlties Community Centre activiti&%- bire ineome D(tionS & legacie& 41.125 41.125 9,810 44,922 500 9,810 Tot In¢omlnE resour¢es (3) 41,125 9,810 50,935 45,422 EXPENDITURE ON Charitsble aCtitleS Conjmunity Centre actiiities 9,810 53,814 53,637 Totsl resources expended (2) 9,810 53,814 53,637 Net (outgoingyinwming resourtts before ttansfrrs (2.879) {2,879) (8.215) Tranykn between fimds .977 {1,977) (902) 11,977) (2.879) {8.215) R¢¢ondllatlon of Funds Total fvnds brought forward 23,947 65,866 89,813 98,028 Total ftmd8 carried fonvard 23.IH5 63,889 86.934 89,813 The notes part of these fmancial statements. Page 5
CEFN COED COI¥IMUNITY CEliTRE BALA'CE SHEET AS A T31,VARCH2024 2024 2023 TAlGIBLE FIXED ASSETS 78,559 80,978 CURREI%4T ASSETS Cash ai bank & in hand Dcbtors and prepayneHIS 1.055 10,463 3,416 10,521 13,937 CREDITORS.. amounts lalling due wiihin one year 13,1431 15.1021 liET CURRTr.h"T ASSETS 8,375 8,835 TOTAI, ASSF.TS LESS CURREN"[ LLiBILII'ILS 86.934 89,813 1¥4EI" ASSETS 89,813 Unrestricted funds- Gen¢ral 23,045 23,947 Restricted fnd5- Grants 63,889 65,866 TOTAL fr-LNDS 86,934 89,813 ApproTred by the Trubtees o 03 /03/aa .and signed on its behalfby.. Mr P GritTiths- Trustee Page 6
CEFN COED COLIIMU.NrrY CENlliE OTES FORMINGPAR T OF THE FKYAI:CL4L STA TEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNrir4G POLICIES The principal accolmting poli¢ia are sMrij FKlow. Tbe accountSD8 PDlicies have been applied consisleTLt]y throughoui the year and in the pre¢ding year. a) Buis of prq)arlng the firthnciAI statements The financial statements of the charity, which is a publie Inefit entity under FRS102. have been prepared in a¢trA)rdallce the Charities SOBF (FRS 102)'Acc4)unting and Reporting by Charitit¢s.' Statement of Recornmended Practice applicable to d]arities prq)aring their accounts in accordance wilh the Finan¢ial Reporting Standard applicable in the UK alld Republic of Jreland (FRS102Xeffettive l January 2019), Fin8ncial Reporting Standard IC12 The Financial Stsndard applicable in the UK and Republic of Ireland, and Ihe Charities Art 2011. The financial statements hai'e bea) prepared undcr the his¥ori¢al cost ¢onTrention. Financlal reporting 5tsndard 102- reduced dlsclfjsure exejnptions The charity has taken adv&nthge of the following disclosure exemption in preparaing ih fin&n¢ial Statements. as perniittfAI by FRS102' The Financial Reporting StandArd applicable in the UK and Republic of Ir¢land': the requirements of Se¢tiim 7 Sratemfflt of Cash Flows. Legttl form Ceth Coed Conununity Centre 19 all iinincorp0ratl rcgtster in Engl8nd & Wales. b) Fund 4c¢oMutillg Unrestricted fund8 2r¢ aTr?ilable for use at the discretion ofthe trltstees in fiwther&n¢¢ of the genera] obj¢ctiv¢y of the charit).. Re3triCted funds are subjected to restrictlS their ¢xpenditurE imposed by the donor or through the ternis of an appeal e) IncoTnln2 res0rceS ALL incoming Tesources are included iu the ltatemellt of fiJLallcial activitie8 wbeu the charity is entitled to the illC4)me fdnd the amount (xn be quantifi1 with reasonable accura. The followng specifi¢ policies are applied to particular categories of incom H1 hire and other intemally generated InMe ar¢ r1ged in ihe aCcOts on on aeeruAls b18, as tnd when the charity h&8 provi(led the seTri£e eolitling it to the consideration. lrtcmiittg resources from grnnts, where related to perfrnanCe and specific deliverables, we Lccountrd ttir As Ihe charity earns th¢ right to CsderatiOn by its rOManCe. Grants where ¢ntitlement is ¢ondiiional Im the delivery of a splfi¢ perfortnance by the charity are recoguised when the clwity becomag ullconditionally enritled ¢0 the grant. Grants for the purchase of fixed assets are recogniwj in fiill as restricted ll[L¥ when receivable. Transfers ar¢ made to unre6triCted fidS (Generdl fid) in line with th¢ depreciation policy on thc undcrljing asset. Gifls in kind are included in the income and exp&)dintre account where th¢y are applied in carry8 out charitable actiwties. where the charity woulil otherwise haye to purchase the donat facility and the benefit is ik)tb qualltifioble and material. The quantifiable E¢nefit Is &4 tM)th incoming and expended r48ourc£8 within the appropriLte SJn(Ls. Where the gift is an wei it is treat1 &s inclxne And taken to stock or fixed a&sets as Appropriate. d) Resources expended Expenditure 15 recognised on an acc1 basis Hs * liabdityis incurrryL Expenditure includes VAT which cannot E¢ recovered, and is rqy)rtd as part of the eXpditUre to which it relates. Page 7
CEFTrI COED COTrIMUiIITY CENfRE NOTES FORMING PAR T OF T1 FINA,VCIAL STA TE.ME.VTS FOR THE YEAR ENDED 31 NIARCH 21124 e) P¢nslon costs Contributions are made kn the employees paslmai pell$tott schemes. The pension cost charge represents those contri1110n5 Pg4yable to th¢ individll g¢heDLes. fj Flxed assets Fi¥ed &g8ets are stated at eost accwnulated deplation. Depreciation is provided at raies ¢al¢ulpdted to write off the cast of each Se1 over ils eXl wsefui life. Property Computer equipment Other quipmenl 50 years siraigbt line 4 >rars ruCing 18Th¢c & 33.3•A straighi line 5 yrnTS straight line and 25Y. reducing balance Debtors creditors recelvablelpayAble within one ye*r Debtors and creditors with ststed inter¢st rnte and recei%able or pable within one year are recorded at transaction pri(x. h) Going co£trn The charity has incurred r[her losses during th¢ )t&r, and gince the >rar eDIL ha5 sufferrfd fi]rthtt frlmn the loss of a regular source of rtlltal income. I'h¢ trustees are cOntinuolY seeking to identify additional in(x)me source9 knth generated incomo and gr&nt funding. The fvture of the clwiry is reliant upoll thes¢ additional sources of income being identififd and receival. The Ite¢S have a reasonable expectation that wfficient incor..e will be gen¥&ted and allow the ¢harity to continue fDr at least the next 12 months and ¢onsequeftsly these financial statements have been prepared on a going Concern basis. TOTAL RESOURCES EXPENDED Ullrestrietsd Restricted funds 2024 Totsi 2023 c4)nlu1ty Centre Activities: Staff Cls.. W&ges and national insuran Emplo>rr pension 25.836 401 26.237 25,836 401 26237 26,762 462 27,224 Premises costs.. Light and heat Insurances Repairs and renewals Telephone & internet charge5 Water rates sl(trY Cleaning and con8umabl£8 8.991 1,512 224 9.810 18,801 ,512 224 1,222 3?3 14,244 1,424 3,665 629 198 612 1,047 323 13,426 9,810 23,236 21,819 Qoyernance c08ts: Postage & statiollery Ac¢ountsncy 656 1,266 1,922 656 732 1,443 2,175 1.922 Depreciation: Property 2,419 2.419 2,419 2,419 2,419 9,810 53,814 53,637 Page 8
CEFN COED COMMUNITY cLYfRE NOTES FOR,VING PAR T OF THE FIVA.I'CIAL STA TEhlEIVTS FOJi THE YEAR EThDED 31 ,VARCH 21123 TOTAL INCOMING RESOURCES 2024 2023 41,125 9,810 44,922 500 D(Kations & L£gaeies 50,935 45,422 Jneludal in donations & lega¢ieJ is £Nil (2023: £500) of unrestric1 grant income and £9.810 (2023.. £Nii) of restricted grant income. 4. NET INCOMEI{EXPENDITURE) FOR THE YEAR 2024 21123 This is stat&1 afier chargin¥. Trustee cmolumfflts Accountancy fees. Independent examination Other servicag 650 616 2,419 870 573 2,419 Depreeiati(m There were no trust¢es' expeuses paid the year fflded 31 MArth 2024 nor for the ye4r ended 31 MArch 2023. 5. STAFF COSTS AND NUMBERS Staff costs were &s follows: 2024 2023 Salaries Emplo)rr Pfflsiort ¢ontnlbutir*)s 25,836 401 26,762 462 26.237 27,224 No employee re1ved anolurnents of mor¢ than £60,(MM) The average numEtr of ¢mplo)ee4 estimated on a full - time eqUiVent Iiasis, analys1 by function was as follows.. 2024 Number 2023 Number Costs in rthrnce of charitable objtiVeS.. The key management personnel of the Charity are the trtea9. The toLal employee ben¢fits of the key Fcrsonnel of the charity were £Nil (2023:£Nil) TAXATIor4 The charitable is exempt from tax on its charitable activities. DEBTORS 21124 2023 Other debtors and prepaeThts 10,463 10,521 Page 9
CKFN COED COMMUNITY CENfRE NOTES FORMING PAR T OF THE FINANCIAL STA TEMENTS FOR THE IEIR KVDED 31 JIARCH 2024 TAPIGIBLE FIXED ASSETS cOmpter Lift eqDlpmtnt hold property Eqvip- ent Total Cost: At 1.4.23 49,088 120.969 94.382 272.439 At 31.3.24 49.088 120,969 94,382 272,439 Depreciatioii: At 1.4.23 Charge for year 49.088 39,991 2,419 94J82 191,461 2,419 Ai 31.3.24 49,088 42,410 94,382 193,880 Net Fmk values: At 31.3.23 80,978 80,978 At31.3.24 78,559 78,559 9. CREDITORS: amounts falllllg dlle wlthin one ye 21124 2023 Other creditors and accrua]s Tfjxatim and social swity 2,840 303 4,674 428 3,143 5,102 10. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unres1- rted Rest- ricted 21124 Totsl 2023 Total Tangible fixed assets Current a$$ets Curretyt liabilities 14,670 11,518 (3,143) 63,889 78,559 11,518 (3,143) 80,978 13,937 (5,102) 23.045 63,889 86,934 89,813 Page 10
cFN COED COMMUThITY CENTRK NOTES tr'ORMING PAR T OF TUE FINIWCL4L STA TE.AIENTS FOR THE YEAR EIIDED 31 MARCH 2024 II. MOVEMENTS LN FUNDS At Incoming Oirt8olt)g 31.3a3 re8ovryei resources Trans- fer5 At 31.3.24 Restricied fimits: Restricted Capitsl Fund National Lottery Community Futtd 65.866 (1,977) 63,889 9,810 (9,810) Total Testricted fvnds 65,866 9,810 (9.810) (1,977) 63,889 Unrestricted fid. Gell&1 fimd Design&t¢d funds 8.835 15,112 41.125 {44,(NM) 2.419 {442) 8,375 14,670 23,947 41,125 (44,004) 1.977 23,045 Total fvnds 89,813 50,935 (53,814) 86,934 Designated fd8 Tepre8ent amounts set &qide to write down fixed L8sets. Actlvitles UDdertaken wlth e*eh major fund Restricted Capitsi Fwid Funds received for the puryXS of the purclwe of equipment or for Signifint rq)airs to the CentrG 12. COPITROL The clwity is controlled by its trustees. &s idenufied on page l. 13. PENSION COMMITMEliTS During the year the charity was commit1 to pay £401 (2023: £462} to the emplo)Ees pthsion schemes. At the )Ear end £140 (2023: £164) )ntributions wue unpai(L I4. GOING CONCERTri PleAse refr to Going Conc¢TU in the accounting pili¢ies. 15. RELATED PARTIES There were no rclLted party transactions for the 31st Mjreh 2024. Page 11
CEFN COED COMMUNITY cENfRE NOTFS FOR.VITrG PAR T OF THE FINANCIAL STA TEMENTS FOR THE YEAR EIVDED 31 hL4RCH2O24 16. COMPARATIVE STATEMENT OF FIIYAI¥CIAL ACTivrrIEs Unrest. ricted Funds Total Funds 2023 Total Funds 2022 ricttd N•te INCOME Af*T Ef4DOIVMENTS FROM Chtritable aetlvttles Comtnuruty Centre activities- bir¢ itwm¢ Donations & l¢ga¢i¢s Oth¢r ill¢on 44.922 500 44922 500 19,438 22,485 Total incoming resources 45,4?2 45,422 41,923 ExpKhi)rrLIiE ON Charitable actlTrlti Comulli Centre activiti 51,659 1,978 53,637 56,084 Total resourees expended (21 51.659 1.978 53,637 56,084 N¢t (outgoitig}lillcorning Te50ur¢¢s before transf¢T8 (6237) {1.978) (8.215) (14,161) Trgnsf¢rs between funds {6,237) (1,978) (8,215) (14,1611 Reeoncllfiati&D ofFunds Total fillS brougbt fotvlard 30,184 67,844 98.028 112,189 Total fund8 carried forward 23.947 65,866 89,813 98.028 The notss fotrn part of these financial Statents. Page 12