CARWAY AND DISTRICT WELFARE ASSOCIATION
STATEMENT OF ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024
REGISTERED CHARITY NUMBER 524016
CARWAY AND DISTRICT WELFARE ASSOCIATION
INDEX TO THE FINANCIAL STATEMENTS
| Legal and Administrative Details Trustees' Report Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements |
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| 1 2 - 3 4 5 6 7 - 8 |
CARWAY AND DISTRICT WELFARE ASSOCIATION
LEGAL AND ADMINISTRATIVE DETAILS
TRUSTEES Mrs E Moseley Mrs D R Griffiths Mr P I Evans Mr A S Williams Mrs N Smith SECRETARY Mrs E Moseley REGISTERED OFFICE: Carway Welfare Hall Carway Kidwelly SA17 4HE CHARITY COMMISSION REGISTRATION NUMBER 524016
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CARWAY AND DISTRICT WELFARE ASSOCIATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their report along with the financial statements of the charity for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out in Note 1 to the accounts which can be found on page 7.
Constitution and Objects
The Charity was registered under number 524016 on 3rd June 1964 and is governed by a Charity Commission Scheme sealed on 8th October 2008. The object of the charity is to provide an institute for the benefit of the inhabitants of Carway and surrounding area.
The trustees have referred to the guidance given by the Charity Commission on public benefit when reviewing the charity's aims and objectives and details of the activities that have taken place during the year can be found later in this report.
Organisational Structure
The trustees who have served the charity during the year are shown on page 1.
The charity is responsible for maintaining the premises and its contents and grounds in a suitable state of repair for use by those who live in the surrounding area. It raises income through various charitable activities such as hiring out its facilities for use by the general public and holding fun days. It has a large number of user groups who arrange activities at the hall as well as renting to the Post Office which uses the hall three days a week.
Trustee vacancies are advertised and interested parties are asked to apply in writing. Interviews will be held and suitable candidates are then notified to their nominating bodies being either CISWO or the NUM South Wales Area.
Financial Review
The charity showed a net surplus of £138,879 for the year (2023: surplus £7,295) This includes grant income of £144,523. As at the balance sheet date the asset value of the Charity was £275,667, including net current assets of £32,868.
Review of Activities
The Welfare Hall is used by all age groups as a place to socialise and carry out their hobbies and interests. The work carried out by the charity includes the maintenance and improvement of the building, allowing it to stay open. The trustees also work with the wider community by putting on fun days plus working with the local football and cricket club to improve their premises and their amenities for use by the community. During the year work commenced on the building of a new play area. This will be completed in the coming year.
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CARWAY AND DISTRICT WELFARE ASSOCIATION
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)
Investment Policy
There is no specific investment policy in place. Due to the current financial climate the trustees feel that placing their reserves in interest bearing bank accounts is the prudent view to take, this allows for a small amount of income generation in the form of interest received whilst keeping the money readily available should it be required.
Reserves Policy
It is the policy of the trustees to maintain unrestricted funds which are the free reserves of the charity at a level to provide sufficient funds to cover anticipated administration and support costs for a period of six months. Additional reserves are held to provide a capital fund for repairs that may be required for the upkeep of the premises.
Risk Management
The trustees are aware of the operational and financial risks which the charity faces and regularly reviews those risks to mitigate against any impact they may have on the charity. A common risk posed to Carway Hall is the lack of able and willing volunteers from the community. The trustees are also aware of the need for a succession planning policy to recruit new people and sustain current members.
The Trustees are carefully managing the charity's finances and are satisfied that it will be able to continue to meet its obligations for the foreseeable future.
Trustees' Responsibilities in relation to the Financial Statements
Law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the charity and of the incoming resources and application of resources of the charity for that period. In preparing those financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
……………………………………………… Signed - Trustee
……………………………………………… Print name - Trustee
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Date
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
CARWAY AND DISTRICT WELFARE ASSOCIATION
I report to the Trustees on my examination of the accounts of the above named charity (registered no. 524016) for the year ended 31 December 2024, set out on pages 5 to 8.
Responsibilities and basis of report
As the charity trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the Act).
I report in respect of my examination of the Trustees' accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiners Statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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(1) accounting records were not kept in respect of the Charity as required by section 130 of the act: or
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(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.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
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J Wallage FCA On behalf of CISWO (Trading) Ltd The Old Rectory Rectory Drive Whiston Rotherham S60 4JG
………………………….. Date
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CARWAY AND DISTRICT WELFARE ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
| Unrestricted NOTE 2024 £ Income and Endowments Llangyndeyrn CC Grant 2,568 Carmarthenshire CC Grants 6 3,750 CISWO Grant - Play Area 6 - CCC Grant - Stairlift - CCC Grant - Warm space - CCC Grant - Consultancy - Hall rental 6,033 Post rental - Solar Panel - Feed in tariff 1,056 Football Club 1,400 Bowls Club 160 Bank interest 3 Wayleave 20 Donations 100 Other income 24 Total income 15,114 Expenditure Food - warm space - Heating and lighting 1,881 Insurance 4,823 Postage and stationery 17 Repairs, maintenance and cleaning 5,767 Opening event 405 Water 285 Sundry 416 Accountancy 1,000 Consultancy 5,000 Donations 35 Depreciation 1,129 Total Expenditure 20,758 NET (EXPENDITURE) / INCOME FOR THE YEAR (5,644) Fund balances brought forward 136,788 Fund balances carried forward 131,144 |
Restricted 2024 £ - 96,610 47,913 - - - - - - - - - - - - 144,523 - - - - - - - - - - - - - 144,523 - 144,523 |
Totals 2024 £ 2,568 100,360 47,913 - - - 6,033 - 1,056 1,400 160 3 20 100 24 159,637 - 1,881 4,823 17 5,767 405 285 416 1,000 5,000 35 1,129 20,758 138,879 136,788 275,667 |
Totals 2023 £ 1,000 - - 4,517 5,961 4,999 4,083 225 4,512 1,375 180 3 20 100 - 26,975 2,911 3,441 4,742 22 1,592 - 198 290 356 4,999 - 1,129 19,680 7,295 129,493 136,788 |
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CARWAY AND DISTRICT WELFARE ASSOCIATION
BALANCE SHEET AS AT 31 DECEMBER 2024
| FIXED ASSETS Tangible assets CURRENT ASSETS Debtors Cash at bank and in hand LESS: CURRENT LIABILITIES Creditors falling due within one year NET CURRENT ASSETS TOTAL NET ASSETS REPRESENTED BY: Funds Restricted Funds Unrestricted Funds |
NOTE 2 3 4 5 |
£ £ 252,799 1,525 52,493 54,018 (31,150) 22,868 275,667 144,523 131,144 275,667 2024 |
£ £ 101,259 1,595 34,410 36,005 (476) 35,529 136,788 - 136,788 136,788 2023 |
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The Financial Statements were approved by the Trustees on and signed on their behalf by:
……………………………………………… ……………………………………………… Signed - Trustee Print name - Trustee
…………………………………………….. Date
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CARWAY AND DISTRICT WELFARE ASSOCIATION
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2024
1. ACCOUNTING POLICIES
a. Basis of preparation and assessment of going concern
The financial statements are prepared under the historical cost convention unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (FRS 102), the Financial Reporting Standard (FRS 102) and the Charities Act 2011.
The trusteees consider that there are no material uncertainties about the charity's ability to continue as a going concern. The trustees have a reasonable expectation that the charity has adequate reserves to continue in operational existence for the foreseeable future. Accordingly the trustees continue to adopt the going concern basis in the preparation of accounts.
b. Income Recognition
Income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Donations are recognised when they are received.
c. Expenditure recognition
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis.
d. Depreciation
It is the policy of the trustees to maintain the charity's freehold property in a continuing state of reasonable repair and they consider that in view of the expected residual value it is not necessary to provide for depreciation of the land and buildings.
Depreciation is provided on fixed assets other than freehold property in order to write off the cost of those assets over their expected economic lives. The rate of depreciation used is:-
- Land and Buildings No Depreciation - Football Equipment 25% straight line basis - Play area and equipment Depreciation to commence on completion
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CARWAY AND DISTRICT WELFARE ASSOCIATION
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2024
| **2. ** | FIXED ASSETS Cost At 1 January 2024 Additions At 31 December 2024 Depreciation At 1 January 2024 Charge for Year At 31 December 2024 Net Book Value At 31 December 2024 At 31 December 2023 |
Land & Buildings £ 99,000 - 99,000 - - - 99,000 99,000 |
Play Area & Equipment - 152,669 152,669 - - - 152,669 - |
Football Equipment £ 4,517 - 4,517 2,258 1,129 3,387 1,130 2,259 |
Total £ 103,517 152,669 256,186 2,258 1,129 3,387 252,799 101,259 |
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During the year work commenced on the play area. As at the balance sheet date the project was still ongoing The assets will start to be depreciated in 2025 when the project is complete.
| 3. 4. **5. ** |
DEBTORS Accrued income Other debtors - football Club CASH AT BANK AND IN HAND Current account NSI account Cash CREDITORS Deferred grant income Accruals |
2024 £ 550 975 1,525 49,067 3,229 197 52,493 30,000 1,150 31,150 |
2023 £ 720 875 1,595 30,970 3,226 214 34,410 - 476 476 |
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6. GRANTS
During the year grants were made available to fund the play area from Carmarthenshire CC £96,610 and CISWO £47,913
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