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COMPANY REGISTRATION NUMBER: 04638265
CHARITY REGISTRATION NUMBER: 1105315
Enfys Foundation
Company Limited by Guarantee
Unaudited Financial Statements
31 March 2024
Enfys Foundation
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2024
Page
Trustees' annual report (incorporating the director's report)
1
Independent examiner's report to the trustees
5
Statement of financial activities (including income and expenditure account)
6
Statement of financial position
7
Notes to the financial statements
8
Enfys Foundation
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 March 2024
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2024 .
Reference and administrative details
Registered charity name
Enfys Foundation
Charity registration number
1105315
Company registration number
04638265
Principal office
4 Queen Street
Neath
Wales
SA11 1DL
Registered office
4 Queen Street
Neath
Wales
SA11 1DL
The trustees
Mr R Bettany
Mr E Jones-Evans
Mr A L Walters
(Resigned 25 September 2023)
Mr L Thomas
(Appointed 25 September 2023)
Independent examiner
Carl West
144 Walter Road
Swansea
SA1 5RW
Structure, governance and management
Governing Document
The organisation is a charitable company limited by guarantee, incorporated on 15 January 2003 and commenced activities on 1 July 2003. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In accordance with the Companies Act 2006, the company is exempt from the requirements of the Companies Act 2006 to include "limited" as part of its name.
Recruitment and Appointment of Management Committee
The directors of the company are also charity trustees for the purposes of charity law. Any significant decisions need to be approved at trustees' meetings. Persons may be appointed by the charity by ordinary resolution or by the other directors.
Risk management
The trustees have conducted a review of the major risks to which the charity is exposed. Where appropriate, systems or procedures have been established to mitigate the risk the charity faces. These procedures are periodically reviewed to ensure they continue to meet the needs of the charity. In this period, we introduced a new digital till/Point of Sale system which improves cash controls and reporting.
Objectives and activities
Principal Activities
Enfys Foundation is a charity registered with the Charities Commissioners. The Principal activity of the company in the period under review was that of the relief of financial hardship by the provision of practical assistance, primarily furniture.
The objective is:
The relief of financial hardship in particular, but not exclusively, of people who are homeless, on low income, or in a vulnerable situation, by the provision of practical assistance including low cost or donated furniture
Volunteers
While employing several members of staff the charity also has numerous volunteer helpers who are responsible for the support of many activities. It is not possible to place a monetary value on the contributions made by volunteers nor are figures available that show how many hours of service they provide.
Achievements and performance
The trustees have considered the Commission's Guidance on public benefit when considering the charity's activities for the year.
A new member joined the Enfys Trustee Board in 2023, Lloyd Thomas. Lloyd is a portfolio manager with over a decade of experience in managing investment and pension funds at an institutional level. Lloyd has experience in dealing with investment committees and governance structures, based on his experience he will lead the charity's efforts on improving governance. We fully embrace the new addition to the Enfys of Trustees and look forward to contributing further to the growth of the charity over the next few years.
Under the leadership and dedication of Enfys CEO, Samira Jeffreys, Enfys has now expanded the footprint and opened a brand-new Enfys Re-use shop, in partnership with FCC Environmental on the site of Atlantic Trading Estate in Barry, South Wales. The Enfys Barry Shop had their official launch in February 2024 with the Vale of Glamorgan Council and FCC. To date, the shop has saved over 50 tonnes of waste by selling donated items and thus avoiding reaching landfill. The team has performed well, and the branch has made good progress since opening. Additionally, the CEO, secured grant funding for a new van for the Barry Shop, and this will serve as another level of support for deliveries for the residents of the Vale of Glamorgan.
One of the biggest achievements for Enfys in December 2023 was to win the prestigious award for 'Investing in Volunteers' National Award. This recognition did not come lightly and required huge effort from the CEO and broader team to ensure that Enfys became an open environment to nurture volunteers of all backgrounds. Enfys work with volunteers with physical and mental health needs, and the charity strives to provide a healthy, and safe work environment for our volunteers to flourish. We as a charity are very proud of this achievement, and we are grateful for the recognition of all of our staff's hard work.
Our partnership with Neath Port Talbot Council & FCC Environmental remains strong and the Enfys re-use shop at Briton Ferry performs steadily, providing a good contribution to the charity. We have strengthened our relationships with NPT CVS (Neath Port Talbot Council for Voluntary Service) and Swansea CVS (Council for Voluntary Service) to help families in crisis, and especially displaced local families and Ukrainian refugees that were placed in the Neath Port Talbot area.
The Neath Enfys store is run by an excellent team of volunteers and has become a hub where people come for a coffee and a chat, as well as operating as a shop to service the local community. Since last winter, we offered a 'Warm Hub' for the community. This was especially appreciated by our elderly customers. Given the success of the 'Warm Hub' we aim to repeat this service at our main headquarters once secured. Whilst we continue to provide furniture to people in need, our vision has been refined with the goal of helping people make a home. To that end, we provide other items such as bedding and toys to those in the greatest need in the community.
In this financial period we have gifted over £17,700 worth of furniture, £12,000 worth of household goods such as essential bedding, kitchen utensils, etc, to over 250 individuals and families to help them get their homes and lives in order. Along with our partners (e.g. The Wallich, Tai Tarian, Pobl, Social Services, etc) it has always been our aim to serve the most vulnerable members of the community.
Our exciting plans for 2024-25 include opening a large-scale Community Hub and this will also be our HQ in heart of Neath Town Centre which will offer facilities to other not-for-profit organisations. An example of a project that we aim to on-board a is a repair shop in partnership with a local college. Further to new projects, the new premises will allow us to increase our inventory which in turn will allow
the charity to provide assistance in greater scale and scope than before. Through our current providers, the new Enfys Hub will also serve as a centre to support local community especially the elderly and the youth in providing them a safe and warm space.
Financial review
The accounts have been prepared in accordance with the Statement of Recommended Accounting Practice (SORP FRS102).
The accounts also show income and expenditure split between unrestricted and restricted funds as defined by the SORP. Certain notes to the accounts have been expanded to give information required by the SORP. In addition, the accounts also comply with the general statutory requirements and the governing document of the charity.
The results for the year and the charity's financial position at the end of the year are shown in the attached financial statements.
Going Concern
Having considered budget and cash flow projections for the next twelve months, and other events and conditions, the trustees are confident that the charity will continue to meet its liabilities as they fall due for the foreseeable future and consider that there are no material uncertainties about the charity's ability to continue as a going concern. It is therefore considered appropriate by the trustees to prepare the financial statements on a going concern basis.
Reserves policy
The trustees have examined the level of reserves held at the year end in light of the main risks facing the organisation. A policy has been established to maintain sufficient free reserves equivalent to meet the immediate needs of the charity in the event of a service interruption.
The free reserves of a charity represent the funds that are freely available to spend. In calculating the free reserves the trustees have deducted from the total of unrestricted funds any funds designated at the year end and the net book value of all tangible fixed assets as detailed in the accounts. The policy is reviewed by the trustees on an ongoing basis.
Plans for future periods
Our plans for 2024-25 include finding temporary premises in Neath that will act as our hub, before moving into a renovated chapel in 25/26. The chapel renovation being carried out by NPT Council and funded by Welsh Government. The hub will provide space to run a repair shop in partnership with a local college and be a community space for the people we seek to help. We are in discussions with partner organisations to provide beds for people who are being discharged from hospital and do not have a suitable bed. This has been a growing area of need to the extent that it requires a change in our operations and funding structure to allow us to sustainably meet the demand.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 17 September 2024 and signed on behalf of the board of trustees by:
Mr E Jones-Evans
Trustee
Enfys Foundation
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Enfys Foundation
Year ended 31 March 2024
I report to the trustees on my examination of the financial statements of Enfys Foundation ('the charity') for the year ended 31 March 2024.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examiner's statement
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
2. the financial statements do not accord with those records; or
3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act 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; or
4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
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.
Carl West Independent Examiner
144 Walter Road Swansea SA1 5RW
17 September 2024
Enfys Foundation
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 March 2024
2024
2023
Unrestricted funds
Restricted funds
Total funds
Total funds
Note
£
£
£
£
Income and endowments
Donations and legacies
5
367
62,609
62,976
31,927
Charitable activities
6
209,739
209,739
215,374
---------
--------
---------
---------
Total income
210,106
62,609
272,715
247,301
---------
--------
---------
---------
Expenditure
Expenditure on raising funds:
Costs of raising donations and legacies
7
163,210
59,487
222,697
247,682
Expenditure on charitable activities
8,9
16,618
16,619
11,542
---------
--------
---------
---------
Total expenditure
179,828
59,487
239,316
259,224
---------
--------
---------
---------
---------
--------
---------
---------
Net income/(expenditure) and net movement in funds
30,278
3,122
33,399
( 11,923)
---------
--------
---------
---------
Reconciliation of funds
Total funds brought forward
149,467
850
150,317
162,240
---------
--------
---------
---------
Total funds carried forward
179,745
3,972
183,717
150,315
---------
--------
---------
---------
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Enfys Foundation
Company Limited by Guarantee
Statement of Financial Position
31 March 2024
2024
2023
Note
£
£
Fixed assets
Tangible fixed assets
14
8,360
16,721
Current assets
Debtors
15
11,931
10,208
Cash at bank and in hand
178,272
139,385
---------
---------
190,203
149,593
Creditors: amounts falling due within one year
16
14,847
15,997
---------
---------
Net current assets
175,356
133,596
---------
---------
Total assets less current liabilities
183,716
150,317
---------
---------
Net assets
183,716
150,317
---------
---------
Funds of the charity
Restricted funds
3,972
850
Unrestricted funds
179,745
149,465
---------
---------
Total charity funds
18
183,717
150,315
---------
---------
For the year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 17 September 2024 , and are signed on behalf of the board by:
Mr R Bettany
Trustee
Enfys Foundation
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is 4 Queen Street, Neath, Wales, SA11 1DL.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
Going concern
There are no material uncertainties about the charity's ability to continue.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the disclosure exemption available under paragraph 1.12 of FRS 102 not to prepare or disclose a cash flow statement.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. - income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. - income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: - expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. - other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Motor vehicles
-
25% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which would be subsequently measured at the carrying value plus accrued interest less repayments.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Limited by guarantee
The Charity is a company limited by guarantee and therefore has no share capital.
5. Donations and legacies
Unrestricted Funds
Restricted Funds
Total Funds 2024
£
£
£
Donations
Donations
367
367
Grants
National Lottery
47,660
47,660
Neath Port Talbot CVS
12,500
12,500
WCVA - Third Sector Resilience Grant
Neath Port Talbot Employability
The Community Renewal Fund
NPTCBC
Workways
2,449
2,449
----
--------
--------
367
62,609
62,976
----
--------
--------
Unrestricted Funds
Restricted Funds
Total Funds 2023
£
£
£
Donations
Donations
995
995
Grants
National Lottery
Neath Port Talbot CVS
WCVA - Third Sector Resilience Grant
9,262
9,262
Neath Port Talbot Employability
5,078
5,078
The Community Renewal Fund
15,742
15,742
NPTCBC
850
850
Workways
----
--------
--------
995
30,932
31,927
----
--------
--------
6. Charitable activities
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Product Income
1,822
1,822
Bike Sales
11,446
11,446
20,889
20,889
Bric A Brac
20,288
20,288
10,707
10,707
Delivery Charges
2,376
2,376
2,021
2,021
Electrical Sales
41,844
41,844
46,257
46,257
Furniture Sales
71,995
71,995
106,140
106,140
Gardening
1,013
1,013
Household Sales
60,449
60,449
27,241
27,241
Tools
328
328
297
297
---------
---------
---------
---------
209,739
209,739
215,374
215,374
---------
---------
---------
---------
7. Costs of raising donations and legacies
Unrestricted Funds
Restricted Funds
Total Funds 2024
£
£
£
Costs of raising donations and legacies - Donations
163,210
59,487
222,697
---------
--------
---------
Unrestricted Funds
Restricted Funds
Total Funds 2023
£
£
£
Costs of raising donations and legacies - Donations
195,816
51,867
247,682
---------
--------
---------
8. Expenditure on charitable activities by fund type
Unrestricted Funds
Total Funds 2024
Unrestricted Funds
Total Funds 2023
£
£
£
£
Support costs
16,618
16,619
11,543
11,542
--------
--------
--------
--------
9. Expenditure on charitable activities by activity type
Support costs
Total funds 2024
Total fund 2023
£
£
£
Charitable activities
11,215
11,215
12,394
Governance costs
5,404
5,404
(852)
--------
--------
--------
16,619
16,619
11,542
--------
--------
--------
10. Net income/(expenditure)
Net income/(expenditure) is stated after charging/(crediting):
2024
2023
£
£
Depreciation of tangible fixed assets
8,361
8,360
-------
-------
11. Independent examination fees
2024
2023
£
£
Fees payable to the independent examiner for:
Independent examination of the financial statements
1,550
1,500
-------
-------
12. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
2024
2023
£
£
Wages and salaries
110,791
141,391
Social security costs
7,495
6,147
Employer contributions to pension plans
1,582
2,966
---------
---------
119,868
150,504
---------
---------
The average head count of employees during the year was 7 (2023: 6 ).
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
13. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees during the year ended 31 March 2024.
There were no trustees' expenses paid for the year ended 31 March 2023.
14. Tangible fixed assets
Freehold property
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 Apr 2023
47,477
92,705
66,497
206,679
Disposals
( 47,477)
( 92,705)
( 140,182)
--------
--------
--------
---------
At 31 Mar 2024
66,497
66,497
--------
--------
--------
---------
Depreciation
At 1 Apr 2023
47,477
92,705
49,776
189,958
Charge for the year
8,361
8,361
Disposals
( 47,477)
( 92,705)
( 140,182)
--------
--------
--------
---------
At 31 Mar 2024
58,137
58,137
--------
--------
--------
---------
Carrying amount
At 31 Mar 2024
8,360
8,360
--------
--------
--------
---------
At 31 Mar 2023
16,721
16,721
--------
--------
--------
---------
15. Debtors
2024
2023
£
£
Trade debtors
3,884
724
Other debtors
8,047
9,484
--------
--------
11,931
10,208
--------
--------
16. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
363
3,878
Accruals and deferred income
12,132
9,650
Social security and other taxes
1,935
2,469
Other creditors
417
--------
--------
14,847
15,997
--------
--------
17. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £ 1,582 (2023: £ 2,966 ).
18. Analysis of charitable funds
Unrestricted funds
At 1 Apr 2023
Income
Expenditure
At 31 Mar 2024
£
£
£
£
General funds
149,467
210,106
(179,828)
179,745
---------
---------
---------
---------
At 1 Apr 2022
Income
Expenditure
At 31 Mar 2023
£
£
£
£
General funds
140,455
216,369
(207,359)
149,465
---------
---------
---------
---------
Restricted funds
At 1 Apr 2023
Income
Expenditure
At 31 Mar 2024
£
£
£
£
National Lottery
47,660
(43,688)
3,972
Neath port Talbot CVS
12,500
(12,500)
WCVA - Third Sector Resilience Grant
Swansea University Health Board
Neath Port Talbot Employability
The Community Renewal Fund
NPTCBC
850
(850)
Workways
2,449
(2,449)
----
--------
--------
-------
850
62,609
(59,487)
3,972
----
--------
--------
-------
At 1 Apr 2022
Income
Expenditure
At 31 Mar 2023
£
£
£
£
National Lottery
Neath port Talbot CVS
WCVA - Third Sector Resilience Grant
20,785
9,262
(30,047)
Swansea University Health Board
1,000
(1,000)
Neath Port Talbot Employability
5,078
(5,078)
The Community Renewal Fund
15,742
(15,742)
NPTCBC
850
850
Workways
--------
--------
--------
----
21,785
30,932
(51,867)
850
--------
--------
--------
----
19. Analysis of net assets between funds
Unrestricted Funds
Restricted Funds
Total Funds 2024
£
£
£
Tangible fixed assets
8,360
8,360
Current assets
186,231
3,972
190,203
Creditors less than 1 year
(14,847)
(14,847)
---------
-------
---------
Net assets
179,744
3,972
183,716
---------
-------
---------
Unrestricted Funds
Restricted Funds
Total Funds 2023
£
£
£
Tangible fixed assets
16,721
16,721
Current assets
148,743
850
149,593
Creditors less than 1 year
(15,997)
(15,997)
---------
----
---------
Net assets
149,467
850
150,317
---------
----
---------