LLAY MINERS WELFARE INSTITUTE AND RECREATION GROUNDS (Registered Charity No. 524064) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st JANUARY 2024 LLAY MINERS WELFARE INSTITUTE AND RECREATION GROUNDS FINANCIAL STATEMENTS FOR THE YEAR ENDED 315t JANUARY 2024 CONTENT5 PAGE Independont Examiners Rep￿t Trustees Annual ReF 2to3 Balance Sheet Slat8ment of Financlal Activrhes Nut85 lo the Flnandal Statements 6tolO Page 1 LLAY MINERS WELFARE INSTITUTE AND RECREATION GROUNDS INDEPENDENT EXAMINERS, REPORT TO THE TRUSTEES OF LLAY MINERS WELFARE INSTITUTE AND RECREATION GROUNDS I report on the acwunts of the Trust for th8 year ended 31st January 2024 which are set out on pagas 4 to 10. Respective responsibilrties of trusts8s and •xamino1 As the charity's trustees, you are responsible for the preparation of the accounts. The charity's trustees consider that an audit Is rrot required for this year under section 144 of th8 Charities Act 2011 1.the Charities A¢f'l and that an independenl examination is needed. It is my rgsponsibility to- examine the accounts under section 145 of thp Charities Act., to follow the procedures laid down in the general Directions gN8n by tho Ch8rty Commission under section 14515llbl of Charities Art and to stale whether pa￿Cular malters have come to my attention. Basls of examlnp¢¥ report My examination was carried out In accordance with the general Directions given by the Charity Commlssioners. An ex8mination includes a review of the accounting records kept by the charty and 8 comparison of the accounts presented with those records. 11 also includes consideration of any unusual itèms or disclosures in the accounts and sèèking explanation5 from you as trustees conceming any such fflatter5. The procedures undertaken do not provide all Ihe evidence that would be requSred in an audit, and consequently, no opinion 15 given as to whether the accounts present nje and falr vlew, and the report is Ilmited to th088 matters set out In the ststement below. Indgpendent examiner$ statement In connecuon with my examination. no matter has Come to my attentlon.. 11 which gives me ￿8$Onable cause to believ8 th8t in any material respect the r8quirements to keep accounting records in accord8nce wth section 130 of the Charitles A¢t.' and to prepare accounts which accord with th8 accounting reGords and compty with Ihe accounting requirement of the Charib"e3 Act have not been met., or 21 to which, in my opinion, attention should bè drawn In order to enable a pyoper understanding of Ihtr accounts to be reached. Tirnothy Howard Davies BA FCA for and on behall of Xeinadin Wr•xham St Andrews House Yale Business Village Elliee Way Wrexham LL13 7YL Dato: 2E)lii iiol(t Page 2 LLAY MINERS WELFARE INSTITUTE AND RECREATION GROUNDS TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31" JANUARY 2024 The Trustees W￿nt Ihelr annual report for the yEar ended 31￿ January 2024. REFERENCE AND ADMINISTRATIVE INFORMATION The charity is Llay Miners Welfare Institute and Recreation Grounds and is administered In accordance wilh the Coal Industry Social Welfare Organisation scheme dated 29 June 2004. The Charity Commission number is 524064. The harity i8 also known 8s Llay Miners Wemare and,10¢8lly, a8 The Welfare. The charity's address is The Ring, L18y, Wrexham, LL12 OTH. Trustees Kerri Crewe Paul Blackwell Avril Taylor K8vin Jones Senior Staff The Trustees have delegated the day to day management of the ch8rity to Charlotte Watts. Busin•ss Support Ser¥ic•s Bankers '. Barclays Bank Plc, 50 Plope Street, Wrexham. LL11 1BE Independent Examiner = Xeinadin Wrexham. St Am¢Jrews House, Yale Business Village, Ellice Way, Wrexham, LL13 7YL Sc4icStors -. GHP L8gal, 26-30 Grosvenor Road. Wraxham, LL11 1 BU STRUCTURE, GOVERNANCE AND MANAGEMENT Govemlng Document Ll8y Miners Vve￿are Instiiute and Recreation Grounds is constituted through its scherne document as an independent charity. The Board of Trustees comprises up to Six rnember5 including an elected chair. The general control and managemant of th8 charity is vested in a management cornmittee membèrs inclLJding the Trustees and representstives from eath of the Institute's sportlng sections, the National Union of Min8work8rs and the National Coal Board. Appolntment of Trustees Two Trustees are appointed by the Nalional Union of Min8workers (North Wales areal, Nvo by CISWO and 2 by a meeting convened by the Charity Secretary. arthough a Trustee need not be a member of the appointment body. Trustees are appoint8d lor a term of four yea15 and must sign a declarabon of aecèptsnee to act in accordance with Ihe governing document. Any vacancy is notified to the appointing body and any competent Trustee may be re-appDintèd. OBJECTIVES AND ACTIVITIES The charity's continuing aim is to provide a Social Welfare Centre and Recreation Grounds for the use of its beneficiaries with the object of improving the condtbons of lrfe for the benefiuari85. This is done via the provision of spO￿ng facilities. ACHIEVEMENTS AND PERFORMAMCE The Trustees are aware of the requir6m8nt to reverse the ongoing Ioss85 especially given the difficult economic climata. They Tealise they cannot b8 complacent and seek to eonsolidalè rttsults for the future. Page 3 LLAY MINERS WELFARE INSTITUTE AND RECREATION GROUNDS TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31At JANUARY 2024 FINANCIAL REVIEW The charlty'5 income has increased by jvst over 10Yo year over year to £55,462 lup from £50,2371- This increase is attributable lo a significant increase in room hire income of £6,517135%1. Grants re￿1vable in the year were £6,547 {up 62%), and were entirely frolr Coalfiekjs Reg8Neration Trust to fvnd significant regeneration projects Ilnduded in repairs and r8newa15 expenses). Excludlng the grants received, income intteased year over year by £2,71816%1. Expenditure has decreased by £9,473114%1 due to a fall in building r8pairs and maintenance of £9,309169°Al. With other costs remaining fairfy consistent year over year. Overall. this has led to a deficit of £3,129 wmpared to £17,827 in the prior year. The charity still has posi£ive net current assets amounting to £14.66812023 ." £15.2171- During the yearth8 Trustees continued the process of property remedial and suNeying works elc for which grants of £nil were receive(l from CISWO and £6,547 from the Coalfields Regènèration Trust, ￿th the costs being induded in building repairs and maintenance. RESERVES POLICY 11 Is the policy of the ch8rity to continue to accumulate financial r8s8rves, to meet not only future expected major capltal expenditure, but to 8150 tuifil its obligations to users of the Institute over the long temi. ACCOUNTING AND REPORTING RESPONSIBILITIES The Charities Act requires the Trustees tc prepare financial statements lor each year, which give 8 true and fair view of the state of 8ffair5 of the charity at the end Df the year and of the surplus or defieien¢y for the year then ended. In preparing ihese finanoal statements, the Trust88s are reqvired to.. 1. Select suitable a￿Ounting policies and then apply them on a consistent basis,. 2. Make judgernents and estimates that are prudent and reasonable, and 3. P￿pare the finanual statement on the going concem basis unless it is Inappropriate to presume that the LthaThly will continue in business. The Trustees are responsible for keeping proper accountsng records, which disclose wth reasonable accuracy at any time the linancial position ol the ch8rity and enable them to ensur¢ th8t the financial ststements comply with the ChArities Act 2011. The Trustees are 8150 re8ponsible for safeguarding the assets of the charty and hence for taking step5 for the prevention and detsction of fratjd or other irr8gularities. Trustee Tnjstee For and on behalf of the Trustee$ Date = 21 November 2024 Page 4 LLAY MINERS WELFARE INSTITUTE AND RECREATION GROUNDS BALANCE SHEET AS AT 31st JANUARY 2024 Note 2024 20 FIXED ASSETS Tangible as58ts 423.302 425,882 CURRENT ASSETS Slodts Debtors Cash at bank and in ha 9.972 23,446 7.111 13,131 40.411 44.917 CREDITORS . amount due In less than on• y•ar NET CURRENT ASSETS 14 NET ASSETS REPRESENTED BY: UnreslTiCted Funds Restricted Funds 362,293 365,413 Sign8d for and on behalf of the Trustee5 Date .' 21 Novemb8r 2024 The notes on pages 6 10 10 form part of these financi81 statèments. Page S LLAY MINERS WELFARE INSTITUTE AND RECREATION GROUNDS STATEMENT OF FINANCIAL AcTIV￿lEs FOR THE YEAR ENDED 31Èt JANUARY 2024 (Incorporating an Income and Expenditure Account) Unrestrlctod Fund Restrlctsd Fund 2024 Total Funds 2023 Total Funds Note INCOMING RESOURCES 11e) Incoming resources from donations ¥nd legacl•s Donation received Grants receiv8ble Govemrnenl grants receivable Donations Bank interest Ineomlng resources from charitable activities Occupational licence fee Tuesday club Room hir8 MUGA hire Catering Sundries Total Incoming Resoureas 6,547 6.547 4.040 16,000 16,000 16,QOO 1,000 18.789 9,540 753 115 25.306 7.275 25,306 7,275 334 334 RESOURCES EXPENDED Charitable actlvities Rates and water Powor, light and heat Insurance Salaries and wages Building repairs and mwntenance Comrnunity Entertainment events Catering costs Sundry expenses Daprecialion GO¥eMan￿ costs Independent ex8minÈrs fee Prof8ssional, consultancy and legal fe6s Total Resourc•s Expended 11fj 1.702 6,900 20,927 10,150 4.234 9.234 1.702 6.900 20.927 10,150 4,234 9.234 2,633 6.369 19.910 9,341 13,543 9.861 350 2.571 2,580 3. 193 650 650 650 Not In¢omellexpenditurnl before transfers 13,120) 191 13.1291 (17.827) TrANSFERS Gross transfers bethen funds Net Incamel{expenditurel before oth•r Tecognlsed gains and losses Gainsllosses on sale offixed assets Net mov*mont In funds 13,1201 {91 13,1291 (17.827) 13.120} 19) 13.1291 (17,827J RECONCILATION OF FUNDS Total fund$ brought forward Total funds carriad forward 365413 441099 Thè notes on pages 6 to 10 fomi part of these financial statements. Page 6 LLAY MINERS WELFARE INSTITUTE AND RECREATION GROUNDS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31¥t JANUARY 2024 1. ACCOUNTING POLICIES The follo￿ng 8cGounting policies have bèén used consistently in dealing wlth ￿efflS which are considered material in relation to the financial 5tat8ments'. lal Accountlng Convention The accounts of the chartty, which is a public benefit èntty undtrr FRS 102, have been prepared in accordanc8 wilh the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Statemenl of Recommendèd Practice applicable lo charitie5 in piep8ring their accounts in accordance with the Financial Rewrting Standard applicable to the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20151, and Finanryal Reporting Standard 102 'The Financi81 Reporbng Standard applicable in tre UK and Republic of Ireland,. The accounts have been preparèd under the historical cost convention on an accruals basis. Ibl Golng Concern At the time of approving th8 accounts, Ihe trustees have a reasonable expectalion that the charty has adequate resour¢88 lo continue in operational exlstence for a period of at18ast 12 rnonths from the date of this r•port. Thus the trustees continue to adopt the going concern basis of accounting in preparing the aecounts. In previous years, due lo closures during the Covid-19 Pandemic, the Charity had to make a loan of £18,641 to Uay Miners Wetfare Instilute Limited, who COV8nants all of it's proflts lo the Gharily, in order to safeguard the company over the periods ol closure 50 that it can continue lo trade and provide futu￿ surplusès to the charity. A5 al 3151 JanLJary 2024, the balance of this loan has now been reduced to £9,308. All costs have been and continu• to be $¢rutinised to ensure that they are kept to a miniFnum. {cl financial Reportlng Standard 102- Reduced Dlsclosure Exemptlons The charity has taken advantage Of the following disclosure exemption in preparing these financial staiements, as permitted by FRS 102 Thè Finan¢i81 Reporting Standard applicalAe in the UK and Republic of Ireland= The requirements of Section 7 Statement of Cash Flows. The requirements of Section 11 Financial Instruments paragraphs 11.41lbl, 11.41lcl, 11.41lel, 11.4110, 11.42, 11.44, 11.45. 11.47. 11.4818lliiil, 11.48lallivl. 11.48lbl and 11.48lcl- The requirements of Section 12 Other Financial Instrumants paragraphs 12.26, 12.27. 12.29lal. 12.29lbl and 12.29A. (d) Fuhd Aecounting Unrestricted lunds are available for use at the discretion of the trust￿ in furtherance of their charitable objecliv85 unless the funds hav¢ b&8n designated for other purposes. Restricted funds are subject io specific Conditions by donors as t¢ how they may be used. The purposes and uses of the r8strict8d funds are set out in th8 notes to the accounts (91 Incomlng Rèsource$ All incoming resources are included in the Statement of Financial Ath'vities when Ihe tharily is entided to the incorne. The following 8pecrfic policies are applied to parbcular categories of incom8'. Incorning resources from donations and legacies is received by way of grants and donations and are induded in full in the Statement of Financial Aclivities where recesvable. Grants, induding government grants, where entitletll8nt is not conditional on the delivery of a specific performance by the charity, ar8 r8cognised when the charity becomas unconditionally entitled to the grant. Donated services and facilities are inetuded al the value lo the charity where Ihis ¢zn be quantified. The value of sem¢¢ provided by the volunteers has not been induded in this account5. Investment income is included when receivable. Incoming resources from charitable activtties are accounted for when earned. Page 7 LLAY MINERS WELFARE INSTITUTE AND RECREATION GROUNDS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 319t JANUARY 2024 (continued In Resources Expondèd Expenditure is recognised on an accrual basis as a liabillty Is Incurred. Expenditure excludes any VAT and is reported as part c>f the expenditure to which it relates. Charftsbl8 activfties comprises thosa costs in(xJtrèd by the charity in the delivery of its activSties and services for Its beneficiarie5. It includes both costs that can be allocated directly to such activtties and Ihose costs of an indirect nature necessary 1¢ support them. Governance costs include those Costs associated with meeting the constitutional and statutory requirements of the charity and include the independent examiner's fee and ¢osts linked to the management of the charity. All e05ts are 8llocaled be￿een the 8XP8nditure categories of the SOFA on a basis designed to reflect the use of rÈsources. Costs relating tts a parti¢ubr actiwty are allocated directly., othefs are apportioned on a appropriate basis. (gl Tanglble Flxed Assets Tangible fixed assets are Slated in the balan￿ sheet at ¢o$l, net of any depreThalion. Depreciation is recognised so as to write off the Costs of assets over their useful liv85 on the following bases.. Freehold Property Fixtures & Fittings Not depreciatsd 25% and 10% reducing balance Freehold property is not depr8Ci8ted. The trustees consider that the èstlmalad useful life of the property is so hmg and the residual value so high that depreciation is not eonsidèred necessary. In certain instances, sperific grants are received towards fix6d asset expenditure and the amount capitalised is nel of any corresponding funding received. Any grants received in advance are deferred until the expendilure is incurred. (h) Operating L•ases Rentals payabl8 under operating ￿aseS, indudSng any lease incenlwes received, are charged to the SOFA on a straight lin8 basis over the lerni of the lease. (11 Taxation Llay Miners Welfare InstitLrtè and R8cre8bon Grounds has been a¢￿pted as a oh8ri1y for tsx purp0885 and is, therefore, exempt from tax on rt$ income and gains to the extent that income 8nd gains are applicable and applied lo charitabl& purposes only. I Stocks Sto¢ks are valued at the lower of cost 8nd net r8alisabl8 value. after making due allowance for obsthete and slow-mving items. 2. EMPLOYEES The average number of employees during the year was 112023- 11- Pag8 8 LLAY MINERS WELFARE INSTITUTE AND RECREATION GROUNDS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st JANUARY 2024 3. FIXED ASSETS Freehold Pro Fixtur•s & Fittin Total COST 1¥t February 2023 Additions 408,896 214,355 623,251 31¥t January 2024 DEPRECIATION 1$1 February 2023 Charge for year 197,369 58 197.369 31Str January 2024 NET BOOK VALUE 31If January 2024 31￿ January 2Q23 408 896 Freehold Propeity 15 not deprecialed. The Trustees consid8r that the estimated usefijl lif8 of the property is so long and the residu81 value so high that thè depreciation is not considarèd n8cessary. 4. STOCKS 2024 8,622 100 500 2023 5.761 1CK) 500 Bar Sto Tombola prizes Lottery ti¢kets Sundry stocks 5. DEBTORS 2024 7,462 202 4,708 P￿payMents and accrued incom VAT deblor Insurance claim Other debtors Loan trj L18y MineT5 Welfare Institute Llmitèd Trade debtors g.308 1.956 Llsy Miners We￿are Insty'tute Limited {limited company number 031 ￿938) is obliged by it's Memi)randum and Articles ol AssocAation to covenant any surplus to the charity at the end of each financial périod. The QOTnpany operate5 as a social club lo support the overall objectives of the charity. However, due the Covid-19 pandemic and the enforced closures of the club the company made a105s in a previous finanaal year of £18,641 and has had lo be supported by 8 loan from the charity in order for it lo contr'nue it's activities. The loan will be repaid out of future surpluses and the company continues to tradtr. A5 al 3151 January 2024 the balance has been reduced to £9,308. Page 9 LLAY MINERS WELFARE INSTITUTE AND RECREATION GROUNDS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 315t JANUARY 2024 (continued) 6. CASH AT BANK ANO IN HAND 2024 5.950 645 398 2023 16.217 5.315 Charity Current Accounts 50150 Draw Account Cash in Hand 7. CREDITORS . amounts falling du• In l•ss than one year 2024 12,322 7,039 2023 16.083 8,197 Trade and other crodltors Accruals Other tsxation and social secvrity 8. MOVEMENT IN FUNDS Net movements In funds during the current year are as follows-. Transf•rs betweerr Funds At 1 Net Incornlng Net Outgoing Feb 2023 R•souree5 Resources At31 Jan 2024 UnrestYl¢ted funds General Fund Restricted funds Improvements Fund The restricted funds are represented by the following assets :_ 2023 Improvèménts Fund Freehold Property at net bcN)k value Fixtures & fittings at net book value Balances held on deposit 74,505 26 74,505 35 Improv•m•nts Fund In accordance wtth Sèction 106 of the Town & Country Planning Act 1990, th8 local planning authority would onty allow thg salts of a Small strip of land if thè proceeds were used towards the cost of future improvements of the Charity's prèmises and grounds. The proixeds raised of £100.O¢XI havè therefore been used only for thi$ purpose. Page10 LLAY MINERS WELFARE INSTITUTE AND RECREATION GROUNDS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31°, JANUARY 2024 (continued) 9. RELATED PARTY TRANSACTIONS Llay Miner5 Wetfare Institute Limited Ilimiled company number 03158938 regislèred in England & wa￿S) is obliged by Its Memorandum and Articles of Association ID covenant any surplus to the ¢harity at the end of each financial period. The surplu8 of £nil was transferred on 3151 January 202412023 .' £nill. In a previous year the charlty provid8d a loan of £18,641 to Llay Mlners WeKare Insb'tute Limited in order far the cornpany to continue tr8ding and to continue 5UPtorting the charity Sn the future. As at 31st January 2024 the balance of this loan is £9,30812023 - £1.9561. The loan bwll be repaid from future trading surplus8S. Llay Miners Welfare Institute Lirnited paid occupational licence fees of £16,00012023.' £16,000) lo Ihe charity. 10. TRUSTEES. EMOLUMENTS AND EXPENSES None of the Trust883 received remunerafjon or were reimt￿tsed for exp8n8es in the year ended 31 &t January 2024. 11. CAPITAL COMMITMENTS There were no r2pitsl commitments as at 311t January 2024. 12. OTHER DISCLOSURE In the year ended 31 January 2019 the charity sold a small piece of land to a developgr. Underlhe terms of the sale the lull proceeds less any associated costs w8r8 paid to the order of the Cool Industry Social Welfare Organisation ICISWO which is a règistered charity number 1015581. Of these funds CISWO ag￿ell to retain £325,000 towards future projectslcapital works at Llay Miners Welfare Institutè and Recreation Grounds with the remainder being applied lo CISWO'S own reserves. In the current year grants of £6.54712023'. £2,040) have been received from CISWO towards such sch8mes. In the event that the retained fund5 are not fully utilised any remainder will be re18in8d by CISWO.