FFORESTFACH WELFARE TRUST UNAUDITED FINANCIAL STATEMENTS ST YEAR ENDED 31 DECEMBER 2021 Registered Charity Number- 700825 ROGERS & CO Chartered Certified Accountants Killay Precinct 414 Gower Road Killay Swansea SA2 7AJ FFORESTFACH WELFARE TRUST INDEX Contents eNo. Officers and Other Inforniation Accountants Report to the Trustees Statement of Financial ActÉvities Balance Sheet Notes to the Financial Statements FFORESTFACH WELFARE TRUST oirieers and Other Information Chairman Councillor C A Holley Esq 446 Middle Road Gendros Swansea SA5 8EH Vice Chairman Mr B Ashford 5 Bryn Road Fforestfach Swansea SA5 8HT Se¢retYdry R Holley Miss 446 Middle Road Gendros Swansea SA5 8EH Treasurer R Holley Miss 446 Middle Road Gendros Swansea SA5 8EH Reporting Accountants Rogers & Co. Killay Precinct 414 Gower Road Swansea SA2 7AJ Bankers Barclays Bank pl 872 Carniarthen Road Fforestfach Swansea SA2 OFN FFORESTFACH WELFARE TRUST ACCOUNTANTS REPORT TO THE TRUSTEES Year Ended 31. December 2021 As described on the balance sheet you are r¢sponsible for the preparation ol. thL accounts for the year ended 31$¢ Decemb¢r 2021, set out under pages 3 to 6. Yi)iJ consider that the charity is exempt from an audit under the Charities SORP (FRS102) and the Charities Act 2011. In accordance with your instructions w¢ have compiled these unaudited accounts in order to assist you to fulfil your statutory r¢sponsibilities, from the accountino records and infonnation and explanations supplied to us. ROGERS & CO CHARTERED CERTIFIED ACCOUNTANTS Killay Precinct 414 Gower Road Killay Swansea SA2 7AJ FFORESTFACH WELFARE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2021 2021 2020 TRUST INCOME Rent of Welfare Hall Tenant contributions towards gas Tenant contribution towards insurance Tenant contribution towards water rates Letting of Driveway Llwyn Deri Hall - Rent 5940 1200 3312 3000 Interest-. -Santander Bond -S¢ottish Widows Bank 32 165 33 166 TOTAL GROSS INCOME 10985 10804 ADMINISTRATION EXPENSES Property Reserve - release 15540 26525 26344 Honorarium- Secretary - Treasurer Rates & Water Heating and Lighting Insurances Repairs, ￿newa1$ and maintenance Postage and stationary, telephone Accountancy fees General expenses Dep￿Ciall0n Legal Professional Fees 1000 1000 205 1765 3035 1212 10 768 129 1659 2667 2382 600 16107 16107 24102 24545 DONATIONS TO CLUBSIASSOCIATIONS 500 TOTAL GROSS EXPENDITURE 246 24545 EXCESS OF INCOME FOR THE YEAR The notes on pages five and six form an integral part of these financial statements FFORESTFACH WELFARE TRUST ST BALANCE SHEET AS AT 31 DECEMBER 2021 Note 2021 2020 FIXED ASSETS 733446 74915) CURRENT ASSETS Debtor Prepaid Expenses Santander Bond Balances at Bank:. Scottish Widows Bank Community Account (Current) Cash In Hand 3331 33348 33316 1060 5583 30 43352 1059 6570 40945 LESS: CURRENT LIABILITIES Sundry Crediiors NET CURREIYT ASSETS 421 39678 REPRESENTED BY: SURPLUS ACCOUNT As ai I, January 2021 58851 Surplus for year As at 31 December 2021 Property Reserve Account 1923 60774 714840 1799 5X%! 7i038IJ Approved By The Trustees on Signed.............. Signed....................... Trustee Trustee The note5 on pages five and six forni an integral part of these financial statements FFORESTFACH WELFARE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021 Basis of Pr¢paration Basis of Accouttting These financial statements have been prepared under the accrua15 basis of accounting and include income and expenditure as they are earned or incurred, rather than as cash received or paid, and are prepared in accordance with the Charities SORP (FRS102) and the Charities Act 2011. 2. Accounting Policies (a) Depreciation of Fixed Assets Depreciation is provided at rates required 10 write off the asset5 over their expected useful lives. The annual depreciation rates used for the various classes of asset are as follows.. Premises Property Improvement Straight Line Siraight Lin¢ (b) Fixed Assets Fixed Assets are included in the accounts based on their net book value taken over by Ihe Trust ()n I" August 1991. No valuation of fixed assets has taken place since the transfer in August 1991 . The Community Hall and its Fixtures & Fittings were demolished in August 2017, in order lo make way for a new building, Llwyn Deri Hall. Tille to thai building has now been transferred from the charity. The Roots Foundation Wales. The Land on which it has been built remains in th¢ ownership of Fforestfach Welfare Trusi. Fixed Assets WelfAre Hall Weiffire Hall Improvements Llwyn D¢rl HAII V4lue 4t ill August 1991 & Book Cost since Ai l January 2021 Additions Ai 31 December 2021 11341 24147 777000 812488 1341 24147 777000 81?4X8 Depreciation Ai l January 2021 Charge for year At 31 December 2021 6662 226 6888 9653 341 9994 46620 15540 2160 Ib1117 Net Book Value At 31 December 2021 At 31 December 2020 £7.31 J, £21Q2&Q L749.5 $2 44 FFORESTFACH WELFARE TRUST NOTES TO THE FINANCIAL STATEMENTS ST FOR THE YEAR ENDED 31 DECEMBER 2020 Creditors Accountancy Fees Insurance Secretary's Honorarium Light & Heat Water 600 250 274 60 Welfare Hall- Lease Budokan Karate have occupied the building from March 2015. In recognition of the improvement work undertaken by the tenant, it was agreed that rent would become payable from April 2015 at a reduced rate of £500.00 per month, £6.000 per ¢alendar "eai.. As of l March 2019, this rent has increased to £540.00 per month. £6,480 per calend&. y" for an agreed temi of 3 years. Deri Hall The hall was built by virtue of the TV Programme, DIY SOS on behalf of the Chari:y, The Roots Foundation W Ales. That Charity has decided to transfer the ownership of the iuil,ding to Fforestfach Welfare Trust, even though the Charity itself has not Ceased. Fforesifach Welfare Trust continue to insure the building and receive rental income from The Roois Foundation Wales of £3000 per annum. Due to the wishes of the Roots Foundation W'¢&l,:' to transfer the ownership of Llwyn Deri Hall lo Fforestfach Welfare Trust, an indeFrndent valuation of the property was carried out, the resulting value was used for the introduclic.r of the asset in to the accounts. Pro er Reserve Account This has been created by virtue of the introduction of Llwyn Deri Hall at the valuation established by independent valuation. Releases are made from this account to match tho 4¢. depreciation charge for that specific asset on an annual basis.