REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
KPC YOUTH & COMMUNITY |
REGISTERED COMPANY NUMBER: |
REGISTERED CHARITY NUMBER: |
REPORT OF THE TRUSTEES AND |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 |
FOR |
KPC YOUTH & COMMUNITY |
KPC YOUTH & COMMUNITY |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
Page |
Report of the Trustees | 1 | to | 3 |
Independent Examiner's Report | 4 |
Statement of Financial Activities | 5 |
Balance Sheet | 6 | to | 7 |
Notes to the Financial Statements | 8 | to | 20 |
KPC YOUTH & COMMUNITY (REGISTERED NUMBER: 06247822) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2024 |
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: 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) (effective 1 January 2019). |
The trustee report includes the directors' report as required by company law. |
OBJECTIVES AND ACTIVITIES |
Objectives and aims |
KPC Youth was set up in 1998 in answer to the lack of facilities for young people within the socially disadvantaged Cynffig Community of South Wales. |
KPC's objectives are: |
- to help and educate young people through leisure time activities so that they may develop their physical, mental and spiritual capacities, that they may grow to full maturity as individuals and members of society and so that their conditions of life may be improved. |
- to advance the education of young people within the Cynffig and wider area of the Borough of Bridgend and surrounds, in particular but not exclusively, through the provision of training |
- to promote, preserve and protect the health and relieve the needs of young people by the provision of such support as the directors may from time to time determine. |
- the prevention of youth crime, drug and alcohol misuse, within the Cynffig area and wider area of the borough of Bridgend and surrounds, by the provision of a wide range of diversionary activities, advice, information and support for young people. |
- to develop the capacity and skills of the members of the socially and economically disadvantaged community of Cynffig and wider area of the Borough of Bridgend and surrounds, in such a way they are better able to identify, and help meet, their needs and to participate more fully society though training and support. |
Public benefit |
The Trustees are aware that the Charity has a responsibility under the Charities Act to demonstrate that it has charitable aims that meet the public benefit requirement and are therefore charitable. The Trustees confirm that they have had regard to the Charity Commission's guidance on public benefit and comply with s17 Charities Act 2011 in respect of having due regard to public benefit when considering, planning and implementing the activities of the charity. |
FINANCIAL REVIEW |
Financial position |
During the year, KPC suffered a deficit of £24,739 (2023: Surplus £9,502). The trustees and staff are aware of this situation and every attempt will be made to reverse the position in future years through sourcing new income and careful cost control. |
All expenditure has however supported the organisations key objectives. |
Total incoming resources for the year were £69,355 (2023: £107,681). |
As 2024/25 begins, the charity still faces the challenge of sourcing income to enable the continued delivery of open access youth work and to cover overheads. This remains a significant test for the charity. |
Investment policy and objectives |
The Board regards secure investment of the reserves as being of primary importance rather than the level of the income generated from them. No one facility holds more than £85,000 which is within the guaranteed banking secured values. |
KPC YOUTH & COMMUNITY (REGISTERED NUMBER: 06247822) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2024 |
FINANCIAL REVIEW |
Reserves policy |
The investments and net current assets of £157,352 (2023: £184,569) currently cover the running expenses of £94,094 (2023: £98,179) by approximately 19.7 months (2023: 22.6 months). |
With the current level of reserves, it is not anticipated that the charity will breach the charity's reserve policy of holding at least 6 months expenditure in cash or cash equivalents in the short term but income and expenditure will have to be closely monitored. The trustees are addressing the challenges that face the charity and are working to determine the future strategic direction. |
During 2024, 6 months expenditure equates to £47,047. Free Reserves as at 31st March 2024 were £155,296. Cash and cash equivalents as at 31st March 2024 are £25,199. |
FUTURE PLANS |
The landscape of funding has changed considerably, with less funding available and more competition in applications. As the cost-of-living challenge continues, we can see that this continues to impact our fundraising activities. KPC board is continuing to explore options such as the Shared Prosperity Fund and opportunities for better collaboration with other partners or organisations. Once again, the board has another challenging year ahead. |
STRUCTURE, GOVERNANCE AND MANAGEMENT |
Governing document |
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
The company is governed by its memorandum and articles od association dated 13th March 2007 as amended on 14th January 2008 and 2nd December 2014. |
Recruitment and appointment of new trustees |
Three members of the board of directors shall be subject to election or re-election at the Annual General Meeting of the charity. Training is provided to each director as part of an initial induction and, if felt necessary, on an ad hoc basis during their time as directors of the charity. |
Decision making |
The charity is organised and policy implemented through the board of directors who meet, at least, quarterly. The project manager and senior youth workers attend the executive management meetings to represent the employees' views, in relation to the charity's progress, to the board. |
Election of The Board |
Three members of the board of directors shall be subject to election or re-election at the Annual General Meeting of the charity. Training is provided to each director as part of an initial induction and, if felt necessary, on an ad hoc basis during their time as directors of the charity. |
Risk management |
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. |
The charity has designed a series of policies in order to ensure all risks are addressed and operations managed in an efficient manner. There is a rolling programme of review of these policies to ensure that they are all maintained in-line with current operations and regularly reviewed in light of the changing operational and statutory environment. |
Environment |
The board of directors and employees of KPC Youth, endeavour to reduce the impact of the operation upon the environment and policies have been drawn up to achieve this. |
REFERENCE AND ADMINISTRATIVE DETAILS |
Registered Company number |
KPC YOUTH & COMMUNITY (REGISTERED NUMBER: 06247822) |
REPORT OF THE TRUSTEES |
FOR THE YEAR ENDED 31 MARCH 2024 |
Registered Charity number |
Registered office |
Trustees |
Sharon Palmer - Day to day operations manager |
Company Secretary |
Independent Examiner |
RICHARD IAN KNOYLE ACA FCCA |
Baker Knoyle Chartered Accountants |
Orbit Business Centre |
Merthyr Tydfil |
CF48 1DL |
Approved by order of the board of trustees on |
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
KPC YOUTH & COMMUNITY |
Independent examiner's report to the trustees of KPC Youth & Community ('the Company') |
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. |
Responsibilities and basis of report |
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts 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 your 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 |
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 Company as required by Section 386 of the 2006 Act; or |
2. | the accounts do not accord with those records; or |
3. | the accounts 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 accounts 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. |
RICHARD IAN KNOYLE ACA FCCA |
Baker Knoyle Chartered Accountants |
Orbit Business Centre |
Merthyr Tydfil |
CF48 1DL |
19 September 2024 |
KPC YOUTH & COMMUNITY |
STATEMENT OF FINANCIAL ACTIVITIES |
(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) |
FOR THE YEAR ENDED 31 MARCH 2024 |
2024 | 2023 |
Unrestricted | Restricted | Total | Total |
funds | funds | funds | funds |
Notes | £ | £ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies | 2 |
Other trading activities | 3 |
Investment income | 4 |
Other income |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) | ( |
) | ( |
) |
Transfers between funds | 16 | 14,367 | (14,367 | ) | - | - |
Net movement in funds | ( |
) | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward |
TOTAL FUNDS CARRIED FORWARD | 307,252 |
KPC YOUTH & COMMUNITY (REGISTERED NUMBER: 06247822) |
BALANCE SHEET |
31 MARCH 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 10 |
CURRENT ASSETS |
Stocks | 11 |
Debtors | 12 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 13 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
NET ASSETS |
FUNDS | 16 |
Unrestricted funds | 258,496 |
Restricted funds | 48,756 |
TOTAL FUNDS | 307,252 |
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006. |
The trustees acknowledge their responsibilities for |
(a) | ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. |
KPC YOUTH & COMMUNITY (REGISTERED NUMBER: 06247822) |
BALANCE SHEET - continued |
31 MARCH 2024 |
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. |
The financial statements were approved by the Board of Trustees and authorised for issue on |
KPC YOUTH & COMMUNITY |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: 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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. |
Going concern |
There are no material uncertainties about the charity's ability to continue. The trustees have considered the anticipated income and their expected costs for the forthcoming twelve months and are confident they have sufficient cashflow reserves to meet all liabilities as they fall due. |
For this reason, the trustees continue to adopt the going concern basis for preparing the financial |
statements. |
The charitable company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland': |
• | the requirements of Section 7 Statement of Cash Flows. |
Income |
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. |
Expenditure |
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Buildings | - |
Outdoor equipment | - |
Computers, furniture & equipment | - |
Tangible fixed assets are included in the balance sheet at historic cost less accumulated depreciation. Grant receipts which fund fixed asset acquisitions are taken to restricted funds and the appropriate depreciation charge is made against those funds over the expected useful life of the asset. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Taxation |
The charity is exempt from corporation tax on its charitable activities. |
Fund accounting |
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. |
KPC YOUTH & COMMUNITY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
1. | ACCOUNTING POLICIES - continued |
Fund accounting |
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. |
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. |
Pension costs and other post-retirement benefits |
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. |
Legal form |
The organisation is a company, registered in England & Wales, limited by guarantee and a registered charity. |
Debtors and creditors receivable/payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. |
2. | DONATIONS AND LEGACIES |
2024 | 2023 |
£ | £ |
Donations |
Grants |
Grants received, included in the above, are as follows: |
2024 | 2023 |
£ | £ |
Street Games | - | 10,000 |
Bridgend County Borough Council | 4,039 | 22,398 |
Cornelly Community Council | - | 7,023 |
Council for Wales of Voluntary Youth Services | 5,714 | 4,151 |
BAVO | 600 | 1,100 |
Boys & Girls Club | - | 500 |
Moondance Foundation | - | 23,632 |
Neighbourly - Warm Hub | 8,060 | - |
Pyle Community Council | 6,060 | - |
24,473 | 68,804 |
KPC YOUTH & COMMUNITY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
3. | OTHER TRADING ACTIVITIES |
2024 | 2023 |
£ | £ |
Fundraising events |
Café & charity shop income |
Memberships | 6,950 | 6,863 |
4. | INVESTMENT INCOME |
2024 | 2023 |
£ | £ |
Deposit account interest |
5. | SUPPORT COSTS |
Governance |
Finance | Other | costs | Totals |
£ | £ | £ | £ |
Youth & Community Activities | 261 | 5,400 | 4,500 | 10,161 |
Support costs, included in the above, are as follows: |
2024 | 2023 |
Youth & |
Community | Total |
Activities | activities |
£ | £ |
Bank charges | 261 | 273 |
Insurance | 4,976 | 4,119 |
Software and printing costs | 424 | 498 |
Independent examiners fees | 1,500 | 1,300 |
Bookkeeping fees | 3,000 | 1,040 |
10,161 | 7,230 |
6. | NET INCOME/(EXPENDITURE) |
Net income/(expenditure) is stated after charging/(crediting): |
2024 | 2023 |
£ | £ |
Depreciation - owned assets |
Independent examiners fee | 1,500 | 1,300 |
KPC YOUTH & COMMUNITY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
7. | TRUSTEES' REMUNERATION AND BENEFITS |
There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. |
Trustees' expenses |
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. |
8. | STAFF COSTS |
2024 | 2023 |
£ | £ |
Wages and salaries |
Other pension costs |
47,659 | 54,304 |
The average monthly number of employees during the year was as follows: |
2024 | 2023 |
Conducting activities | 7 | 6 |
Support staff | 1 | 1 |
Management & administration | 1 | 1 |
The key management personnel of the charity comprise the Centre Manager, Chair and Company Secretary.The total employee benefits of the key personnel of the charity were £14,516 (2023: £12,494). |
9. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
INCOME AND ENDOWMENTS FROM |
Donations and legacies |
Other trading activities |
Investment income |
Other income |
Total |
EXPENDITURE ON |
Raising funds |
Charitable activities |
Total |
NET INCOME/(EXPENDITURE) | ( |
) |
KPC YOUTH & COMMUNITY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
9. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued |
Unrestricted | Restricted | Total |
funds | funds | funds |
£ | £ | £ |
Transfers between funds | 398 | (398 | ) | - |
Net movement in funds | ( |
) |
RECONCILIATION OF FUNDS |
Total funds brought forward | 279,247 | 18,503 |
TOTAL FUNDS CARRIED FORWARD | 258,496 | 48,756 | 307,252 |
10. | TANGIBLE FIXED ASSETS |
Computers, |
Outdoor | furniture |
Buildings | equipment | & equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2023 |
Additions |
At 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
In addition to the assets disclosed above, KPC Youth own land via a restricted covenant with Bridgend County Borough Council. The covenant requires any proceeds received from the future sale of this land to be paid back to Bridgend County Borough Council or reinvested in a new premises at the discretion of Bridgend County Borough council. This land was purchased at a nominal value of £1. |
11. | STOCKS |
2024 | 2023 |
£ | £ |
Stocks |
KPC YOUTH & COMMUNITY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
12. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
13. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Social security and other taxes |
Net pay creditor | 914 | - |
Pension creditor | - | 51 |
Sundry creditors | 749 | - |
Accruals and deferred income |
14. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
2024 | 2023 |
£ | £ |
Within one year |
Between one and five years |
15. | ANALYSIS OF NET ASSETS BETWEEN FUNDS |
Unrestricted | Restricted | 2024Total | 2023Total |
Funds | Funds | Funds | Funds |
£ | £ | £ | £ |
Fixed Assets | 103,619 | 21,542 | 125,161 | 122,681 |
Net Current Assets | 155,296 | 2,056 | 157,352 | 184,571 |
258,915 | 23,598 | 282,513 | 307,252 |
KPC YOUTH & COMMUNITY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
16. | MOVEMENT IN FUNDS |
Net | Transfers |
movement | between | At |
At 1/4/23 | in funds | funds | 31/3/24 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 149,717 | (13,948 | ) | 19,527 | 155,296 |
Designated Fixed Assets | 108,779 | - | (5,160 | ) | 103,619 |
(13,948 | ) |
Restricted funds |
Winter of Wellbeing | 313 | (313 | ) | - | - |
YSG Day Emotional Wellbeing | 968 | (968 | ) | - | - |
YSG Evening Emotional Wellbeing | 191 | (191 | ) | - | - |
Capital Grant - Play Park | 7,250 | - | (7,250 | ) | - |
Bridgend County Borough Council (Business Finance Support) |
2,500 |
600 |
(3,100 |
) |
- |
Bridgend County Borough Council (Third Sector Support) |
- |
3,439 |
(3,439 |
) |
- |
Restricted Fixed Assets | 13,902 | - | 7,640 | 21,542 |
Moondance Foundation | 23,632 | (21,269 | ) | (2,363 | ) | - |
Neighbourly - Warm Hub Fund | - | 2,862 | (806 | ) | 2,056 |
Voluntary Youth Support Scheme | - | 5,049 | (5,049 | ) | - |
(10,791 | ) | ( |
) |
TOTAL FUNDS | (24,739 | ) | 282,513 |
Net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 52,207 | (66,155 | ) | (13,948 | ) |
Restricted funds |
Winter of Wellbeing | - | (313 | ) | (313 | ) |
YSG Day Emotional Wellbeing | - | (968 | ) | (968 | ) |
YSG Evening Emotional Wellbeing | - | (191 | ) | (191 | ) |
Bridgend County Borough Council (Business Finance Support) |
600 |
- |
600 |
Bridgend County Borough Council (Third Sector Support) |
3,439 |
- |
3,439 |
Moondance Foundation | - | (21,269 | ) | (21,269 | ) |
Neighbourly - Warm Hub Fund | 8,060 | (5,198 | ) | 2,862 |
Voluntary Youth Support Scheme | 5,049 | - | 5,049 |
( |
) | (10,791 | ) |
TOTAL FUNDS | ( |
) | (24,739 | ) |
KPC YOUTH & COMMUNITY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
16. | MOVEMENT IN FUNDS - continued |
Comparatives for movement in funds |
Net | Transfers |
movement | between | At |
At 1/4/22 | in funds | funds | 31/3/23 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 279,247 | (21,149 | ) | (108,381 | ) | 149,717 |
Designated Fixed Assets | - | - | 108,779 | 108,779 |
279,247 | (21,149 | ) | 398 | 258,496 |
Restricted funds |
Winter of Wellbeing | 1,244 | (931 | ) | - | 313 |
YSG Day Emotional Wellbeing | 2,802 | (1,834 | ) | - | 968 |
YSG Evening Emotional Wellbeing | 2,907 | (2,716 | ) | - | 191 |
Capital Grant - Computers & Music | 1,489 | - | (1,489 | ) | - |
Capital Grant - Cafe | 2,811 | - | (2,811 | ) | - |
Capital Grant - Play Park | 7,250 | - | - | 7,250 |
Street Games - Capital Grant (Gym equipment) |
- |
10,000 |
(10,000 |
) |
- |
Bridgend County Borough Council (Business Finance Support) |
- |
2,500 |
- |
2,500 |
Restricted Fixed Assets | - | - | 13,902 | 13,902 |
Moondance Foundation | - | 23,632 | - | 23,632 |
18,503 | 30,651 | (398 | ) | 48,756 |
TOTAL FUNDS | 297,750 | 9,502 | - | 307,252 |
KPC YOUTH & COMMUNITY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
16. | MOVEMENT IN FUNDS - continued |
Comparative net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 38,297 | (59,446 | ) | (21,149 | ) |
Restricted funds |
Winter of Wellbeing | 1 | (932 | ) | (931 | ) |
YSG Day Emotional Wellbeing | 580 | (2,414 | ) | (1,834 | ) |
YSG Evening Emotional Wellbeing | 4,321 | (7,037 | ) | (2,716 | ) |
Street Games - Capital Grant (Gym equipment) |
10,000 |
- |
10,000 |
Bridgend County Borough Council (Service Support) |
6,400 |
(6,400 |
) |
- |
Bridgend County Borough Council (Business Finance Support) |
11,028 |
(8,528 |
) |
2,500 |
Bridgend County Borough Council (Third Sector Support) |
3,000 |
(3,000 |
) |
- |
Summer of Fun (CYWVS) | 4,151 | (4,151 | ) | - |
Summer of Fun (BCBC) | 1,970 | (1,970 | ) | - |
Summer of Fun (Cornelly Community Council) |
2,701 |
(2,701 |
) |
- |
BAVO - Site trip fund | 600 | (600 | ) | - |
BAVO - Football Event Fund | 500 | (500 | ) | - |
Warm Bank Fund | 500 | (500 | ) | - |
Moondance Foundation | 23,632 | - | 23,632 |
69,384 | (38,733 | ) | 30,651 |
TOTAL FUNDS | 107,681 | (98,179 | ) | 9,502 |
KPC YOUTH & COMMUNITY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
16. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined position is as follows: |
Net | Transfers |
movement | between | At |
At 1/4/22 | in funds | funds | 31/3/24 |
£ | £ | £ | £ |
Unrestricted funds |
General fund | 279,247 | (35,097 | ) | (88,854 | ) | 155,296 |
Designated Fixed Assets | - | - | 103,619 | 103,619 |
279,247 | (35,097 | ) | 14,765 | 258,915 |
Restricted funds |
Winter of Wellbeing | 1,244 | (1,244 | ) | - | - |
YSG Day Emotional Wellbeing | 2,802 | (2,802 | ) | - | - |
YSG Evening Emotional Wellbeing | 2,907 | (2,907 | ) | - | - |
Capital Grant - Computers & Music | 1,489 | - | (1,489 | ) | - |
Capital Grant - Cafe | 2,811 | - | (2,811 | ) | - |
Capital Grant - Play Park | 7,250 | - | (7,250 | ) | - |
Street Games - Capital Grant (Gym equipment) |
- |
10,000 |
(10,000 |
) |
- |
Bridgend County Borough Council (Business Finance Support) |
- |
3,100 |
(3,100 |
) |
- |
Bridgend County Borough Council (Third Sector Support) |
- |
3,439 |
(3,439 |
) |
- |
Restricted Fixed Assets | - | - | 21,542 | 21,542 |
Moondance Foundation | - | 2,363 | (2,363 | ) | - |
Neighbourly - Warm Hub Fund | - | 2,862 | (806 | ) | 2,056 |
Voluntary Youth Support Scheme | - | 5,049 | (5,049 | ) | - |
18,503 | 19,860 | (14,765 | ) | 23,598 |
TOTAL FUNDS | 297,750 | (15,237 | ) | - | 282,513 |
KPC YOUTH & COMMUNITY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
16. | MOVEMENT IN FUNDS - continued |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |
Incoming | Resources | Movement |
resources | expended | in funds |
£ | £ | £ |
Unrestricted funds |
General fund | 90,504 | (125,601 | ) | (35,097 | ) |
Restricted funds |
Winter of Wellbeing | 1 | (1,245 | ) | (1,244 | ) |
YSG Day Emotional Wellbeing | 580 | (3,382 | ) | (2,802 | ) |
YSG Evening Emotional Wellbeing | 4,321 | (7,228 | ) | (2,907 | ) |
Street Games - Capital Grant (Gym equipment) |
10,000 |
- |
10,000 |
Bridgend County Borough Council (Service Support) |
6,400 |
(6,400 |
) |
- |
Bridgend County Borough Council (Business Finance Support) |
11,628 |
(8,528 |
) |
3,100 |
Bridgend County Borough Council (Third Sector Support) |
6,439 |
(3,000 |
) |
3,439 |
Summer of Fun (CYWVS) | 4,151 | (4,151 | ) | - |
Summer of Fun (BCBC) | 1,970 | (1,970 | ) | - |
Summer of Fun (Cornelly Community Council) |
2,701 |
(2,701 |
) |
- |
BAVO - Site trip fund | 600 | (600 | ) | - |
BAVO - Football Event Fund | 500 | (500 | ) | - |
Warm Bank Fund | 500 | (500 | ) | - |
Moondance Foundation | 23,632 | (21,269 | ) | 2,363 |
Neighbourly - Warm Hub Fund | 8,060 | (5,198 | ) | 2,862 |
Voluntary Youth Support Scheme | 5,049 | - | 5,049 |
86,532 | (66,672 | ) | 19,860 |
TOTAL FUNDS | 177,036 | (192,273 | ) | (15,237 | ) |
Restricted funds |
Restricted funds represent balances held to fund future projects where the resources have been received and are required by the donors to fund a specific project. |
Transfers between funds |
Transfers between funds arise where unrestricted funds have been used to fund shortfalls in restricted projects. The free reserves are available to provide funds to cashflow projects funded on a retrospective basis and are available with the approval of the trustees to fund any expenditure on projects or expenses which fall within the organisations general aims and objectives. They are accumulated in accordance with the reserve policy as stated in the Trustee Report. |
Activities undertaken within each major restricted fund |
The restricted funds of the charity have been applied during the year or are held for future expenditure in the following area: |
Winter of Wellbeing |
Support of wellbeing/mental health of young people. |
YSG Day Emotional Wellbeing |
Support of wellbeing/mental health of young people. |
KPC YOUTH & COMMUNITY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
16. | MOVEMENT IN FUNDS - continued |
YSG Evening Emotional Wellbeing |
Support of wellbeing/mental health of young people. |
Capital Grant - Play Park |
Improving facilities at KPC Youth & community centre. |
Bridgend County Borough Council (Business Finance Support) |
This was covid support funding to help support the costs of the centre through the pandemic. |
Bridgend County Borough Council (Third Sector Grant) |
Support of wellbeing/mental health of young people. |
Moondance Foundation |
This was to fund a senior and youth worker salary cost. |
Neighbourly - Warm Hub Fund |
This is part of the National Grids Community Matters Fund, and was to fund warm packs for distribution in the community. |
Voluntary Youth Support Scheme |
This was to contribute to the core costs of the organisation to enable the continued provision of youth work opportunities. |
17. | RELATED PARTY DISCLOSURES |
18. | ULTIMATE CONTROLLING PARTY |
The ultimate controlling party is the Board of Trustees. |
The liability of the members is limited to £1 during membership, or within one year after resignation, as may be required on the occasion of a winding up of the company. There were 4 members at 31st March 2024 (2023: 4 members). |
19. | GIFTS IN KIND |
Volunteer time |
The value of volunteer time is not quantified in terms of money but the time contributed by volunteers is an invaluable resource in terms of the outstanding contribution made by them. The number of hours contributed by volunteers in the year was 1,132 (2023:1,300). |
KPC YOUTH & COMMUNITY |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MARCH 2024 |
20. | ANALYSIS OF DESIGNATED FUNDS |
Designated funds represents the amounts set aside to write down the remaining net book value of fixed assets held against unrestricted funds. |
2024 | 2023 |
£ | £ |
Designated funds - unamortised fixed assets | 103,619 | 108,779 |