FFORESTFACH WELFARE TRUST UNAUDITED FINANCIAL STATEMENTS ST YEAR ENDED 31 DECEMBER 2024 Registered Charity Number- 700825 ROGERS & CO Chartered Certifled Accountants Killay Precinct 414 Gower Road Killay Swansea SA2 7AJ FFORESTFACH WELFARE TRUST INDEX Contents eNo. Officers and Other Infonnation Accountants Report to the Trustees Statement of Financial Activities Balance Sheet Notes to the Financial Statements FFORESTFACH WELFARE TRUST ffieers and Other Informalion Chairnian Councillor C A Hollcy Esq 446 Middle Road Gendros Swansea SA5 8EH Vlce Chairman (passed away 213122) No replacement Secretary 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 Llanelli & Dristrict Credit Union Ltd 5-7 John Street Llanclli SA15 IUH FFORESTFACH WELFARE TRUST ACCOUNTANTS REPORT TO THE TRUSTEES Year Ended 31° December 2024 As d¢sorib¢d on the balance sheet you are r¢sponsible for the preparation of the accounts for Ihc year ¢lld￿ 31. December 2024, set out under pages 3 to 6. You consider that the ckwity is ￿eMpt from an audit under the Charities SORP (FRSI 02) and the Chariti&8 Act 2011. In accordance with your instrnctions we have compiled these unaudited accounts in ord¢r to assist you to fidfil your statutory responsibilities, frorn the accounting records and infonnation and explanations supplied to us. ROGERS & CO CHARTERED CERT[￿ED ACCOUNTANTS Kiuay Preeinet 414 Gower Road Killay Swansea SA2 7AJ 29 April 2026 FFORESTFACH WELFARE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR E.NDED 31. DECE.MBER 2024 2024 2023 TRUST INCOME Rent of Welfare Hall Tenant contributions towards gas Tenant contribution towards insurance Tenant contribution towards water rales Letting of Driveway Llwyn Deri Hall - Renl 6480 6480 2000 1200 1200 3150 3150 Interest & Dividend -Santander Bond interest -scottish Widows Bank inieresi Credit Union Dividend 337 21 29 133 387 142 TOTAL GROSS IIYCOME 1217 12972 ADMINISTRATION EXPENSES Property Reserve - release 15540 26757 15540 28512 Honorarium - Secreiary - Treasurer Rates & Water Heating and Lightin8 Insurances Repairs, renewals and maintenance Postage and slalionary, telephone Accountancy fees General expenses Deprecialion Legal & Professional 1000 342 281 7342 4099 1248 2994 720 93 16107 720 243 16107 21256 104 DONATIONS TO CLUBSIASSOCIATIONS 150 TOTAL GROSS EXPENDITURE 21406 31040 SURPLUS (DEFICIT) OF INCOME FOR THE YEAR The notes on pages five and six forni an inlegrdl part of these financial statements FFORESTFACH WELFARE TRUST BALANCE SItEET AS AT 31ST DECEMBER 2 24 Note 2024 2023 FIXED ASSII TS 685125 701232 CURRENT ASSETS Debtor Prepaid Expenses Santander Bond Balances at Bank:. Scottish Widows Bank Community Account (Current) Llanelli & District Credit Union Cash Tn Hand 1918 3873 33949 33613 I091 1070 6664 552 43652 91 LESS: CURRENT LIABILITIES Sundry Creditors NET CURRENT ASSETS 427 REPRESENTED B Y: SURPLUS ACCOUNT As At I" January 2024 54267 56795 Profit for year As at 31st December 2024 Property Reserve Account 351 59618 66822 2528 54267 683760 Approved By The Trustees on 29 April 2026. Signed......... Signed... - Trustee - Trustee The notes on pages five and six form an integral part of these finaDC121 statements FFORESTFACH WELFARE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 Bgsis of Preparation Basis of Accounting These financial staiements have been prepared under the accruals basis of ac¢ountin8 and include income and expenditure as they are earned or inCur￿d, rather than as cash received or paid, and are prepared in accordance with the Charilies SORP (FRS102) and the Charities Act 2011. 2. Accounting Policies (Yd) Depreciation of Fixed Assets Depreciation 15 provided at rates required to write off ihe assets over their expected useful lives. The annual depreciation rates used for the various classes of assel are as follows: Premis Property Improvement Siraigh¢ Line Straight Line (b) Fixed Assets Fixed Assets are included in the accounis based on their net book value taken over by the TNst on I" August 1991. No valuation of fixed asseis has taken place since the transfer in August 1991. The Community Hall and its Fixtures & Fittings were demolished in August 2017, in order to make way for a new building, Llwyn Deri Hall. Title to ihai building has now been transferred from the charity, The Roots Foundation Wale5. The Land on which it has been built remains in the ownership of Fforestfach Welfare Trust. Fixed Assets Welf*rt H911 Welfare H411 Improv¢meuts Uwyn Deri Hsll Total Value at lit August 1991 & Book Cost sin At l January 2024 Addilions At 31 December 2024 11341 24147 777000 812488 24147 777000 812488 Deprecialion At l January 2024 Charge for year At 31 December 2024 7340 226 7566 10676 341 11017 93240 15540 108780 111256 16107 127363 Net B(bok Valye At 31 December 2024 At 31 December 2023 47 FFORESTFACH WELFARE TRUST NOTES TO THE FIIYANCIAL STATEMEIYTS FOR THE YEAR ENDED 31ST DECEMBER 2024 Credltors Accountancy Fees Insurance Secretary's Honorarium Water 720 112 io Welfare H211- Lease Budokan Karate have occupied the building from March 2015. In recognition of the irnprovem¢nt 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 calendar year. As of l March 2019, this rent has increased to £540.00 per month, £6,480 per calendar year for an a8reed tenn of 3 years. Llwyn Deri Hall The hall was built by virtue of the TV Prograrnme, DIY SOS on behalf of the Charity, The Roots Foundation Wales. That Charity has decided to transfer the ownership of the building to Fforestfach Welfare Trust, even though the Charity itseifhas not ceased. Fforestfach W¢lfare Trust continu¢ to insure the building and receive renlal income from The Roots Foundation Wales of £3000 per annum. Due to the wishes of the Roots Foundation Wales to transfer th¢ ownership of Llwyn Deri Hall to Fforestfach Welfare Trust, an ind¢pendent valuation of th¢ property was carried out, the resulting value was used for the introduction of the asset in to the accounts. Pro Res rve Account This has been created by virtue of the inlroduction of Llwyn Deri Hall at the valuation established by independent valuation. Releases are made from this account to match the depreciation charge for that specific asset on an annual basis.