SWANSEA CHILDRENS RELIEF IN NEED
FINANCIAL STATEMENTS AND ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025
REGISTERED CHARITY NUMBER : 701418
SWANSEA CHILDRENS RELIEF IN NEED
ANNUAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31[st] MARCH 2025
The trustees present their report along with the Financial Statements of the charity for the year ended 31[st ] March 2023. The Financial statements have been prepared in accordance with the accounting policies set out on pages 8 to 12 and comply with the charity’s Trust Deed, the Charities Act 2011 and Accounting and Reporting by Charities : Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standards for Smaller Entities (the FRSSE) (effective 1 January 2015).
Objectives and Activities
The purpose of the Chairity is to apply the clear income of the Charity in relieving either generally or individually children resident in the area of benefit who are in condition of need, hardship or distress by making grants of money or providing or paying for items, services or facilities calculated to reduce the need, hardship or distress of such children
Given the nature of the Charities aims and objectives, the trustees must react to individual needs on a case-bycase basis. The long term aims are therefore geared to improving the over financial health of the charity rather for individual projects or schemes
Achievement and Performance
Charitable Activities were under taken by Swansea Councils Social Services on behalf on the Charity, the Charity provided a sum of £3k in support of these activities.
Financial Review
Reserves and Investment Policy
All grant applications are dealt with on their merit, and as such no limit is set in advance for grant payments in any one year. However the trustees are mindful that the fund income is derived from investment interest, and are prudent in conserving the fund levels to safeguard investment income for future years.
The charity does not actively fundraise and relies upon income from investments to fund grant payments.
The actual level of reserves at 31st March 2025 was £913,586,333
The Local Authority, Swansea, subsidise the operation of the charity out of its statutory funds indirectly, by providing professional and administrative services, free of charge.
Professional advise is provided by staff within the Swansea Councils Legal, Social Services and Finance Departments. Staff within the Social Services Commissioning Team provide the day to day administration of grants and the processing and handling of applications prior to consideration of the trustees. The Accountancy functions are provided by staff within the Finance Department.
Councillors from Swansea Council are trustees on the charity's board
The relationship with the CCS enables the charitable funds to be directed effectively.
SWANSEA CHILDRENS RELIEF IN NEED
ANNUAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31[st] MARCH 2025
Financial Review
The charity is reliant on the income from its investments to make grant payments. Income from investments totalled £43,213 in 2024/25.
The Charity's investment portfolio is based in Fixed Term Investments (held in Swansea Councils Treasury Account and was valued at £830,393
The overall financial performance recorded a net gain in funds, reflecting a rise in the value of investments.
The net movement in funds for the year was represented by a gain of £32,253
Grant Making Policy
The charity invites applications for grants through advertising with CCS Social Workers and local Health Visitors. The majority of grants are limited to £300 in order to protect reserves held, although the trustees can agree larger payments.
In making grants, the trustees require that the purpose of the grant falls within the objects of the charity, and that the grant applications is supported by either a Social Worker or a Health Visitor.
Structure, Governance and Management
Swansea Childrens Relief in Need was established by a trust deed in April 1989.
Decision Making & Election of Trustees
The City and County of Swansea is the Corporate Trustee of the Charity
Honorary Treasurer
The role of Honorary Treasurer of Swansea Childrens Relief in Need is undertaken by the Section 151 Officer of
The financial statements and annual report 2024/25 are signed and approved on behalf of the Trustees by Mr Ben Smith, Honorary Treasurer.
SWANSEA CHILDRENS RELIEF IN NEED Chief Finance Officer & Section 151 Officer City & County of Swansea Civic Centre Swansea SA1 3SN
Independent Examiner
Mr Alun W Rees 1 Deepslade Close Southgate Swansea SA3 2DQ
Bankers
Lloyds Bank Plc Oxford Street Swansea SA1 3AF
Reference and administration information
Swansea Childrens Relief in Need is a Registered Charity number 701418
The registered address is:
City & County of Swansea Civic Centre Oystermouth Road Swansea SA1 3SN
For and on behalf of the Trustees
Ben Smith - Director of Finance
02/09/2025
Date
SWANSEA CHILDRENS RELIEF IN NEED
REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEES OF SWANSEA CHILDRENS RELIEF IN NEED FUND
I report on the accounts of the Charity for the year ended 31 March 2025, which are set out on pages 6 to 10.
Respective responsibilities of trustee and auditors
As the Charity’s trustees, you are responsible for the preparation of the accounts following the guidance for Accruals Accounting for the Smaller Charity issued by the Charity Commission. I have been appointed as independent examiner under s43(3) of the Charities Act 2011. Therefore, it is my responsibility to state, on the basis of procedures specified in the General Directions issued by the Charity Commission for Independent Examination, whether particular matters have come to my attention.
Basis of Opinion
I conducted my examination in accordance with the General Direction for Independent Examination issued by the Charity Commission. The examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking of explanations from you as trustees concerning such matters. The procedures undertaken do not provide all the evidence that would be required if a full audit was undertaken in accordance with the Statements of Auditing Standards, and consequently I do not express an audit opinion on the view given by the accounts.
Examiner’s Statement
In connection with my examination, no matter has come to my attention:
-
which gives me reasonable cause to believe that in any material respect the requirements :
-
to keep proper accounting records in accordance with section 41 of the Act
-
to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act, have not been met; or
-
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Name : Alun Wyn Rees Address : 1 Deepslade Close Southgate Swansea SA3 2DQ Date : 21/08/2025
SWANSEA CHILDRENS RELIEF IN NEED
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
| Income and Endowments from : Donations Received Charitable Activities Other Trading Activities Investments 3 Other 3 Total Expenditure On : Raising Funds Charitable Activities 4 Other 4 Total Net Income/(expenditure) Transfers between fund Other recognised gains (losses) : Gains/(losses) on revaluation of fixed assets Actuarial gains (losses) on investment assets Net movement in funds Reconciliation of funds : Total funds brought forward Total funds carried forward 5 Note |
Total Funds Total Funds 31-Mar-25 31-Mar-24 £ £ £ £ £ 0 0 0 0 0 0 43,342 43,342 35,463 1,008 1,008 642 44,350 0 0 44,350 36,105 10,861 0 10,861 3,289 1,106 0 1,106 0 11,967 0 0 11,967 3,289 32,383 0 0 32,383 32,816 32,383 0 0 32,383 32,816 32,383 0 0 32,383 32,816 881,333 0 881,333 848,517 913,716 0 0 913,716 881,333 Unrestricted Funds Restricted Funds Endowment Fund |
|---|---|
SWANSEA CHILDRENS RELIEF IN NEED
BALANCE SHEET AS AT 31 MARCH 2025
| Fixed Assets Intangible Assets Tangible Assets Heritage Assets Investments Total Fixed Assets Current Assets Stocks Debtors 6 Investments 7 Cash at Bank and in hand 8 Total current assets Liabilities Creditors falling due within 1 year 9 Net Current Liabilities Total assets less current liabilities Creditors : Amounts falling due after more than one year Provisions for liabilities The funds of the charity Endowment Funds Restricted Income Funds Unrestricted Funds Total charity funds 5 Note |
Endowment Total Funds Total Funds Funds 31-Mar-25 31-Mar-24 £ £ £ £ £ 0 0 0 0 0 1,234 1,234 1,055 830,393 830,393 830,393 93,200 93,200 49,885 0 924,827 0 924,827 881,333 11,111 11,111 0 0 11,111 0 11,111 0 0 913,716 0 913,716 881,333 0 913,716 0 913,716 881,333 0 913,716 0 913,716 881,333 Unrestricted Funds Restricted Funds |
|---|---|
Notes 3 to 10 for part of these accounts
SWANSEA CHILDRENS RELIEF IN NEED
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025
1. Accounting Policies
(a) Basis of Preparation
The financial statements have been prepared to comply with the charity’s Trust Deed, The Charities Act 2011 and Accounting and Reporting by Charities : Statement of Recommended Practice applicable to charities preparing their accounts I accordance with the Financial Reporting Standards for Smaller Entities (the FRSSE) (effective 1 January 2015).
Restricted Funds – These funds have to be used for the purpose for which they have been given. This purpose is narrower than the Charity’s objects. The donor can require the charity to spend their donation/grant in accordance with their wishes.
(b) Basis of Accounting
The accounts have been prepared using the accruals basis. There was no change in this basis in the year.
(c) Incoming Resources
All incoming resources are recognised once the charity has entitlement to the resources, it is certain the resources will be received and the monetary value of incoming resources can be measured with sufficient reliability.
(d) Resources Expended
Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for on an ongoing accruals basis and has been classified under headings that aggregate all costs related to the category.
Grants payable, are payments to third parties in the furtherance of the charities objectives. The grants are accounted for where either the trustees have agreed to pay the grant without condition and the recipient has a reasonable expectation that they will receive a grant, or any condition attaching to the grant is outside the control of the charity.
(e) Costs of Generating Funds
The costs of generating funds are those costs attributable to generating incoming resources for the charity, other than those incurred in undertaking charitable activities.
Accounting policies continued
(f) Charitable activities
Costs of charitable activities comprise all costs incurred in the pursuit of the charity’s objective. These costs in include grants made.
(g) Governance costs
Accountancy Services are donated by City & County of Swansea .
(h) Support costs and overheads
All support costs are included in other resources expended.
(i) Fixed asset investments
The Charity has no fixed assets.
3. Income on Short Term Deposits
Internal Investments
Swansea Childrens Relief In Need has investments with the City & County of Swansea. These investments operate on fixed term or seven days notice and the interest rate is based on the Money Market’s SONIA (Sterling OverNight Index Average) Rate
| Total The interest rate applied on the seven days notice investment during 2024/25 was 3.89% with the interest received being: The average interest rate applied on the fixed investment during 2024/25 was 5.15% with the interest recevied being: The total interest accrued for the year was: The Trust’s current account, used for operational purposes is with Lloyds Bank. Interest is currently earned on a credit balance, the interest recevied during 2024/25 was |
793 41,315 1,234 1,008 44,350 |
|---|---|
4. Expenditure
| Charitable Activities Grant Funding provided to Swansea Council Other Expenditure Audit Fee 2023/24 Audit Fee 2024/25 Write Off in respect of historic unused vouchers/grant awards Total |
£ 10,861 10,861 250 250 606 1106 11,967 |
|---|---|
5. Analysis of Funds
| Restricted Funds SCRIN |
Balance @ 01/04/24 Receipts Utilised/ Realised Transfer & Losses Unlrealised Gains & Losses Balance @ 31/03/25 881,333 44,350 -11,968 0 0 913,716 881,333 44,350 -11,968 0 0 913,716 |
|---|---|
6. Debtors
==> picture [434 x 237] intentionally omitted <==
----- Start of picture text -----
|||||||
|---|---|---|---|---|---|
|2024/25|
|£|
|Accrued Interest on Investments|1,234|
|TOTAL|1,234|
|7. Investments|
|7DN|Fixed|Total|
|£|£|£|
|Market Value as at 1|[st]|April 2024|20,393|750,000|770,393|
|Additions (MV)|0|60,000|60,000|
|Disposals (MV)|0|0|0|
|Net unrealised investment gains/(losses)|0|0|0|
|Market Value as at 31|[st]|March 2025|20,393|810,000|830,393|
|Book Cost as at 31|[st]|March 2025|20,393|810,000|830,393|
----- End of picture text -----
8. Cash in Bank and In Hand
==> picture [431 x 23] intentionally omitted <==
----- Start of picture text -----
|||
|---|---|
|£|
|As per Bank Statement 31st March 2025|93,200|
----- End of picture text -----
9. Liabilities
==> picture [434 x 83] intentionally omitted <==
----- Start of picture text -----
|||
|---|---|
|£|
|Creditors falling due within 1 year|
|Swansea Council - 2024/25 Expenditure not invoiced in year|10,861|
|Audit Fee 2024/25|250|
|Total|11,111|
----- End of picture text -----